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MehdiHosseiniMoghadam

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ConvFinQA

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[ "through the certegy merger , the company has an obligation to service $ 200 million ( aggregate principal amount ) of unsecured 4.75% ( 4.75 % ) fixed-rate notes due in 2008 .", "the notes were recorded in purchase accounting at a discount of $ 5.7 million , which is being amortized over the term of the notes .", "the notes accrue interest at a rate of 4.75% ( 4.75 % ) per year , payable semi-annually in arrears on each march 15 and september 15 .", "on april 11 , 2005 , fis entered into interest rate swap agreements which have effectively fixed the interest rate at approximately 5.4% ( 5.4 % ) through april 2008 on $ 350 million of the term loan facilities ( or its replacement debt ) and at approximately 5.2% ( 5.2 % ) through april 2007 on an additional $ 350 million of the term loan .", "the company has designated these interest rate swaps as cash flow hedges in accordance with sfas no .", "133 .", "the estimated fair value of the cash flow hedges results in an asset to the company of $ 4.9 million and $ 5.2 million , as of december 31 , 2006 and december 31 , 2005 , respectively , which is included in the accompanying consolidated balance sheets in other noncurrent assets and as a component of accumulated other comprehensive earnings , net of deferred taxes .", "a portion of the amount included in accumulated other comprehensive earnings is reclassified into interest expense as a yield adjustment as interest payments are made on the term loan facilities .", "the company 2019s existing cash flow hedges are highly effective and there is no current impact on earnings due to hedge ineffectiveness .", "it is the policy of the company to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes .", "principal maturities at december 31 , 2006 ( and at december 31 , 2006 after giving effect to the debt refinancing completed on january 18 , 2007 ) for the next five years and thereafter are as follows ( in thousands ) : december 31 , january 18 , 2007 refinancing ." ]

[ "fidelity national information services , inc .", "and subsidiaries and affiliates consolidated and combined financial statements notes to consolidated and combined financial statements 2014 ( continued ) ." ]

[ [ "", "December 31, 2006", "January 18, 2007 Refinancing" ], [ "2007", "$61,661", "$96,161" ], [ "2008", "257,541", "282,041" ], [ "2009", "68,129", "145,129" ], [ "2010", "33,586", "215,586" ], [ "2011", "941,875", "165,455" ], [ "Thereafter", "1,646,709", "2,105,129" ], [ "Total", "$3,009,501", "$3,009,501" ] ]

[ [ "", "december 31 2006", "january 18 2007 refinancing" ], [ "2007", "$ 61661", "$ 96161" ], [ "2008", "257541", "282041" ], [ "2009", "68129", "145129" ], [ "2010", "33586", "215586" ], [ "2011", "941875", "165455" ], [ "thereafter", "1646709", "2105129" ], [ "total", "$ 3009501", "$ 3009501" ] ]

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[ "zimmer biomet holdings , inc .", "2015 form 10-k annual report through february 25 , 2016 , we repurchased approximately $ 415.0 million of shares of our common stock , which includes the $ 250.0 million of shares that we repurchased from certain selling stockholders on february 10 , 2016 .", "in order to achieve operational synergies , we expect cash outlays related to our integration plans to be approximately $ 290.0 million in 2016 .", "these cash outlays are necessary to achieve our integration goals of net annual pre-tax operating profit synergies of $ 350.0 million by the end of the third year post-closing date .", "also as discussed in note 20 to our consolidated financial statements , as of december 31 , 2015 , a short-term liability of $ 50.0 million and long-term liability of $ 264.6 million related to durom cup product liability claims was recorded on our consolidated balance sheet .", "we expect to continue paying these claims over the next few years .", "we expect to be reimbursed a portion of these payments for product liability claims from insurance carriers .", "as of december 31 , 2015 , we have received a portion of the insurance proceeds we estimate we will recover .", "we have a long-term receivable of $ 95.3 million remaining for future expected reimbursements from our insurance carriers .", "we also had a short-term liability of $ 33.4 million related to biomet metal-on-metal hip implant claims .", "at december 31 , 2015 , we had ten tranches of senior notes outstanding as follows ( dollars in millions ) : principal interest rate maturity date ." ]

[ "we issued $ 7.65 billion of senior notes in march 2015 ( the 201cmerger notes 201d ) , the proceeds of which were used to finance a portion of the cash consideration payable in the biomet merger , pay merger related fees and expenses and pay a portion of biomet 2019s funded debt .", "on june 24 , 2015 , we also borrowed $ 3.0 billion on a u.s .", "term loan ( 201cu.s .", "term loan 201d ) to fund the biomet merger .", "we may , at our option , redeem our senior notes , in whole or in part , at any time upon payment of the principal , any applicable make-whole premium , and accrued and unpaid interest to the date of redemption .", "in addition , the merger notes and the 3.375% ( 3.375 % ) senior notes due 2021 may be redeemed at our option without any make-whole premium at specified dates ranging from one month to six months in advance of the scheduled maturity date .", "we have a $ 4.35 billion credit agreement ( 201ccredit agreement 201d ) that contains : ( i ) a 5-year unsecured u.s .", "term loan facility ( 201cu.s .", "term loan facility 201d ) in the principal amount of $ 3.0 billion , and ( ii ) a 5-year unsecured multicurrency revolving facility ( 201cmulticurrency revolving facility 201d ) in the principal amount of $ 1.35 billion .", "the multicurrency revolving facility will mature in may 2019 , with two one-year extensions available at our option .", "borrowings under the multicurrency revolving facility may be used for general corporate purposes .", "there were no borrowings outstanding under the multicurrency revolving facility as of december 31 , 2015 .", "the u.s .", "term loan facility will mature in june 2020 , with principal payments due beginning september 30 , 2015 , as follows : $ 75.0 million on a quarterly basis during the first three years , $ 112.5 million on a quarterly basis during the fourth year , and $ 412.5 million on a quarterly basis during the fifth year .", "in 2015 , we paid $ 500.0 million in principal under the u.s .", "term loan facility , resulting in $ 2.5 billion in outstanding borrowings as of december 31 , we and certain of our wholly owned foreign subsidiaries are the borrowers under the credit agreement .", "borrowings under the credit agreement bear interest at floating rates based upon indices determined by the currency of the borrowings plus an applicable margin determined by reference to our senior unsecured long-term credit rating , or at an alternate base rate , or , in the case of borrowings under the multicurrency revolving facility only , at a fixed rate determined through a competitive bid process .", "the credit agreement contains customary affirmative and negative covenants and events of default for an unsecured financing arrangement , including , among other things , limitations on consolidations , mergers and sales of assets .", "financial covenants include a consolidated indebtedness to consolidated ebitda ratio of no greater than 5.0 to 1.0 through june 24 , 2016 and no greater than 4.5 to 1.0 thereafter .", "if our credit rating falls below investment grade , additional restrictions would result , including restrictions on investments and payment of dividends .", "we were in compliance with all covenants under the credit agreement as of december 31 , 2015 .", "commitments under the credit agreement are subject to certain fees .", "on the multicurrency revolving facility , we pay a facility fee at a rate determined by reference to our senior unsecured long-term credit rating .", "we have a japan term loan agreement with one of the lenders under the credit agreement for 11.7 billion japanese yen that will mature on may 31 , 2018 .", "borrowings under the japan term loan bear interest at a fixed rate of 0.61 percent per annum until maturity .", "we also have other available uncommitted credit facilities totaling $ 35.8 million .", "we place our cash and cash equivalents in highly-rated financial institutions and limit the amount of credit exposure to any one entity .", "we invest only in high-quality financial instruments in accordance with our internal investment policy .", "as of december 31 , 2015 , we had short-term and long-term investments in debt securities with a fair value of $ 273.1 million .", "these investments are in debt securities of many different issuers and , therefore , we believe we have no significant concentration of risk with a single issuer .", "all of these debt securities remain highly rated and we believe the risk of default by the issuers is low. ." ]

[ [ "Principal", "Interest Rate", "Maturity Date" ], [ "$500.0", "1.450%", "April 1, 2017" ], [ "1,150.0", "2.000", "April 1, 2018" ], [ "500.0", "4.625", "November 30, 2019" ], [ "1,500.0", "2.700", "April 1, 2020" ], [ "300.0", "3.375", "November 30, 2021" ], [ "750.0", "3.150", "April 1, 2022" ], [ "2,000.0", "3.550", "April 1, 2025" ], [ "500.0", "4.250", "August 15, 2035" ], [ "500.0", "5.750", "November 30, 2039" ], [ "1,250.0", "4.450", "August 15, 2045" ] ]

[ [ "principal", "interest rate", "maturity date" ], [ "$ 500.0", "1.450% ( 1.450 % )", "april 1 2017" ], [ "1150.0", "2.000", "april 1 2018" ], [ "500.0", "4.625", "november 30 2019" ], [ "1500.0", "2.700", "april 1 2020" ], [ "300.0", "3.375", "november 30 2021" ], [ "750.0", "3.150", "april 1 2022" ], [ "2000.0", "3.550", "april 1 2025" ], [ "500.0", "4.250", "august 15 2035" ], [ "500.0", "5.750", "november 30 2039" ], [ "1250.0", "4.450", "august 15 2045" ] ]

[ { "arg1": "2.5", "arg2": "const_1000", "op": "multiply2-1", "res": "2500" }, { "arg1": "500.0", "arg2": "#0", "op": "divide2-2", "res": "20%" } ]

[ "notes receivable in 2014 , we entered into a $ 3.0 million promissory note with a privately held company which was recorded at cost .", "the interest rate on the promissory note is 8.0% ( 8.0 % ) per annum and is payable quarterly .", "all unpaid principal and accrued interest on the promissory note is due and payable on the earlier of august 26 , 2017 , or upon default .", "5 .", "commitments and contingencies operating leases we lease various operating spaces in north america , europe , asia and australia under non-cancelable operating lease arrangements that expire on various dates through 2024 .", "these arrangements require us to pay certain operating expenses , such as taxes , repairs , and insurance and contain renewal and escalation clauses .", "we recognize rent expense under these arrangements on a straight-line basis over the term of the lease .", "as of december 31 , 2015 , the aggregate future minimum payments under non-cancelable operating leases consist of the following ( in thousands ) : years ending december 31 ." ]

[ "rent expense for all operating leases amounted to $ 6.7 million , $ 3.3 million and $ 3.6 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively .", "financing obligation 2014build-to-suit lease in august 2012 , we executed a lease for a building then under construction in santa clara , california to serve as our headquarters .", "the lease term is 120 months and commenced in august 2013 .", "based on the terms of the lease agreement and due to our involvement in certain aspects of the construction such as our financial involvement in structural elements of asset construction , making decisions related to tenant improvement costs and purchasing insurance not reimbursable by the buyer-lessor ( the landlord ) , we were deemed the owner of the building ( for accounting purposes only ) during the construction period .", "we continue to maintain involvement in the property post construction completion and lack transferability of the risks and rewards of ownership , due to our required maintenance of a $ 4.0 million letter of credit , in addition to our ability and option to sublease our portion of the leased building for fees substantially higher than our base rate .", "due to our continued involvement in the property and lack of transferability of related risks and rewards of ownership to the landlord post construction , we account for the building and related improvements as a lease financing obligation .", "accordingly , as of december 31 , 2015 and 2014 , we have recorded assets of $ 53.4 million , representing the total costs of the building and improvements incurred , including the costs paid by the lessor ( the legal owner of the building ) and additional improvement costs paid by us , and a corresponding financing obligation of $ 42.5 million and $ 43.6 million , respectively .", "as of december 31 , 2015 , $ 1.3 million and $ 41.2 million were recorded as short-term and long-term financing obligations , respectively .", "land lease expense under our lease financing obligation included in rent expense above , amounted to $ 1.3 million and $ 1.2 million for the years ended december 31 , 2015 and 2014 , respectively .", "there was no land lease expense for the year ended december 31 , 2013. ." ]

[ [ "2016", "$6,306" ], [ "2017", "6,678" ], [ "2018", "6,260" ], [ "2019", "5,809" ], [ "2020", "5,580" ], [ "Thereafter", "21,450" ], [ "Total minimum future lease payments", "$52,083" ] ]

[ [ "2016", "$ 6306" ], [ "2017", "6678" ], [ "2018", "6260" ], [ "2019", "5809" ], [ "2020", "5580" ], [ "thereafter", "21450" ], [ "total minimum future lease payments", "$ 52083" ] ]

[ { "arg1": "6306", "arg2": "const_1000", "op": "divide1-1", "res": "6.3" }, { "arg1": "#0", "arg2": "6.7", "op": "minus1-2", "res": "-0.4" }, { "arg1": "#1", "arg2": "6.7", "op": "divide1-3", "res": "-6.0%" } ]

[ "available information .", "the company 2019s annual reports on form 10-k , quarterly reports on form 10-q , current reports on form 8- k , proxy statements and amendments to those reports are available free of charge through the company 2019s internet website at http://www.everestregroup.com as soon as reasonably practicable after such reports are electronically filed with the securities and exchange commission ( the 201csec 201d ) .", "item 1a .", "risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities .", "if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly .", "risks relating to our business fluctuations in the financial markets could result in investment losses .", "prolonged and severe disruptions in the overall public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio .", "although financial markets have significantly improved since 2008 , they could deteriorate in the future .", "there could also be disruption in individual market sectors , such as occurred in the energy sector during the fourth quarter of 2014 .", "such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings .", "our results could be adversely affected by catastrophic events .", "we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism .", "any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations .", "subsequent to april 1 , 2010 , we define a catastrophe as an event that causes a loss on property exposures before reinsurance of at least $ 10.0 million , before corporate level reinsurance and taxes .", "prior to april 1 , 2010 , we used a threshold of $ 5.0 million .", "by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of contract specific reinsurance but before cessions under corporate reinsurance programs , were as follows: ." ]

[ "our losses from future catastrophic events could exceed our projections .", "we use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic underwriting tool .", "we use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the placement of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area .", "these loss projections are approximations , reliant on a mix of quantitative and qualitative processes , and actual losses may exceed the projections by a material amount , resulting in a material adverse effect on our financial condition and results of operations. ." ]

[ [ "Calendar year:", "Pre-tax catastrophe losses" ], [ "(Dollars in millions)", "" ], [ "2014", "$62.2" ], [ "2013", "195.0" ], [ "2012", "410.0" ], [ "2011", "1,300.4" ], [ "2010", "571.1" ] ]

[ [ "calendar year:", "pre-tax catastrophe losses" ], [ "( dollars in millions )", "" ], [ "2014", "$ 62.2" ], [ "2013", "195.0" ], [ "2012", "410.0" ], [ "2011", "1300.4" ], [ "2010", "571.1" ] ]

[ { "arg1": "571.1", "arg2": "1300.4", "op": "add1-1", "res": "1871.50" }, { "arg1": "#0", "arg2": "410.0", "op": "add1-2", "res": "2281.50" }, { "arg1": "#1", "arg2": "195.0", "op": "add1-3", "res": "2476.50" } ]

[ "million excluding a gain on a bargain purchase price adjustment on the acquisition of a majority share of our operations in turkey and restructuring costs ) compared with $ 53 million ( $ 72 million excluding restructuring costs ) in 2012 and $ 66 million ( $ 61 million excluding a gain for a bargain purchase price adjustment on an acquisition by our then joint venture in turkey and costs associated with the closure of our etienne mill in france in 2009 ) in 2011 .", "sales volumes in 2013 were higher than in 2012 reflecting strong demand for packaging in the agricultural markets in morocco and turkey .", "in europe , sales volumes decreased slightly due to continuing weak demand for packaging in the industrial markets , and lower demand for packaging in the agricultural markets resulting from poor weather conditions .", "average sales margins were significantly lower due to input costs for containerboard rising ahead of box sales price increases .", "other input costs were also higher , primarily for energy .", "operating profits in 2013 and 2012 included net gains of $ 13 million and $ 10 million , respectively , for insurance settlements and italian government grants , partially offset by additional operating costs , related to the earthquakes in northern italy in may 2012 which affected our san felice box plant .", "entering the first quarter of 2014 , sales volumes are expected to increase slightly reflecting higher demand for packaging in the industrial markets .", "average sales margins are expected to gradually improve as a result of slight reductions in material costs and planned box price increases .", "other input costs should be about flat .", "brazilian industrial packaging includes the results of orsa international paper embalagens s.a. , a corrugated packaging producer in which international paper acquired a 75% ( 75 % ) share in january 2013 .", "net sales were $ 335 million in 2013 .", "operating profits in 2013 were a loss of $ 2 million ( a gain of $ 2 million excluding acquisition and integration costs ) .", "looking ahead to the first quarter of 2014 , sales volumes are expected to be seasonally lower than in the fourth quarter of 2013 .", "average sales margins should improve reflecting the partial implementation of an announced sales price increase and a more favorable product mix .", "operating costs and input costs are expected to be lower .", "asian industrial packaging net sales were $ 400 million in 2013 compared with $ 400 million in 2012 and $ 410 million in 2011 .", "operating profits for the packaging operations were a loss of $ 5 million in 2013 ( a loss of $ 1 million excluding restructuring costs ) compared with gains of $ 2 million in 2012 and $ 2 million in 2011 .", "operating profits were favorably impacted in 2013 by higher average sales margins and slightly higher sales volumes compared with 2012 , but these benefits were offset by higher operating costs .", "looking ahead to the first quarter of 2014 , sales volumes and average sales margins are expected to be seasonally soft .", "net sales for the distribution operations were $ 285 million in 2013 compared with $ 260 million in 2012 and $ 285 million in 2011 .", "operating profits were $ 3 million in 2013 , 2012 and 2011 .", "printing papers demand for printing papers products is closely correlated with changes in commercial printing and advertising activity , direct mail volumes and , for uncoated cut-size products , with changes in white- collar employment levels that affect the usage of copy and laser printer paper .", "pulp is further affected by changes in currency rates that can enhance or disadvantage producers in different geographic regions .", "principal cost drivers include manufacturing efficiency , raw material and energy costs and freight costs .", "printing papers net sales for 2013 were about flat with both 2012 and 2011 .", "operating profits in 2013 were 55% ( 55 % ) lower than in 2012 and 69% ( 69 % ) lower than in 2011 .", "excluding facility closure costs and impairment costs , operating profits in 2013 were 15% ( 15 % ) lower than in 2012 and 40% ( 40 % ) lower than in 2011 .", "benefits from lower operating costs ( $ 81 million ) and lower maintenance outage costs ( $ 17 million ) were more than offset by lower average sales price realizations ( $ 38 million ) , lower sales volumes ( $ 14 million ) , higher input costs ( $ 99 million ) and higher other costs ( $ 34 million ) .", "in addition , operating profits in 2013 included costs of $ 118 million associated with the announced closure of our courtland , alabama mill .", "during 2013 , the company accelerated depreciation for certain courtland assets , and diligently evaluated certain other assets for possible alternative uses by one of our other businesses .", "the net book value of these assets at december 31 , 2013 was approximately $ 470 million .", "during 2014 , we have continued our evaluation and expect to conclude as to any uses for these assets during the first quarter of 2014 .", "operating profits also included a $ 123 million impairment charge associated with goodwill and a trade name intangible asset in our india papers business .", "operating profits in 2011 included a $ 24 million gain related to the announced repurposing of our franklin , virginia mill to produce fluff pulp and an $ 11 million impairment charge related to our inverurie , scotland mill that was closed in 2009 .", "printing papers ." ]

[ "north american printing papers net sales were $ 2.6 billion in 2013 , $ 2.7 billion in 2012 and $ 2.8 billion in 2011. ." ]

[ [ "In millions", "2013", "2012", "2011" ], [ "Sales", "$6,205", "$6,230", "$6,215" ], [ "Operating Profit", "271", "599", "872" ] ]

[ [ "in millions", "2013", "2012", "2011" ], [ "sales", "$ 6205", "$ 6230", "$ 6215" ], [ "operating profit", "271", "599", "872" ] ]

[ { "arg1": "2.6", "arg2": "const_1000", "op": "multiply1-1", "res": "2600" }, { "arg1": "#0", "arg2": "6205", "op": "divide1-2", "res": "42%" } ]

[ "notes to the consolidated financial statements competitive environment and general economic and business conditions , among other factors .", "pullmantur is a brand targeted primarily at the spanish , portu- guese and latin american markets and although pullmantur has diversified its passenger sourcing over the past few years , spain still represents pullmantur 2019s largest market .", "as previously disclosed , during 2012 european economies continued to demonstrate insta- bility in light of heightened concerns over sovereign debt issues as well as the impact of proposed auster- ity measures on certain markets .", "the spanish econ- omy was more severely impacted than many other economies and there is significant uncertainty as to when it will recover .", "in addition , the impact of the costa concordia incident has had a more lingering effect than expected and the impact in future years is uncertain .", "these factors were identified in the past as significant risks which could lead to the impairment of pullmantur 2019s goodwill .", "more recently , the spanish economy has progressively worsened and forecasts suggest the challenging operating environment will continue for an extended period of time .", "the unemployment rate in spain reached 26% ( 26 % ) during the fourth quarter of 2012 and is expected to rise further in 2013 .", "the international monetary fund , which had projected gdp growth of 1.8% ( 1.8 % ) a year ago , revised its 2013 gdp projections downward for spain to a contraction of 1.3% ( 1.3 % ) during the fourth quarter of 2012 and further reduced it to a contraction of 1.5% ( 1.5 % ) in january of 2013 .", "during the latter half of 2012 new austerity measures , such as increases to the value added tax , cuts to benefits , the phasing out of exemptions and the suspension of government bonuses , were implemented by the spanish government .", "we believe these austerity measures are having a larger impact on consumer confidence and discretionary spending than previously anticipated .", "as a result , there has been a significant deterioration in bookings from guests sourced from spain during the 2013 wave season .", "the combination of all of these factors has caused us to negatively adjust our cash flow projections , especially our closer-in net yield assumptions and the expectations regarding future capacity growth for the brand .", "based on our updated cash flow projections , we determined the implied fair value of goodwill for the pullmantur reporting unit was $ 145.5 million and rec- ognized an impairment charge of $ 319.2 million .", "this impairment charge was recognized in earnings during the fourth quarter of 2012 and is reported within impairment of pullmantur related assets within our consolidated statements of comprehensive income ( loss ) .", "there have been no goodwill impairment charges related to the pullmantur reporting unit in prior periods .", "see note 13 .", "fair value measurements and derivative instruments for further discussion .", "if the spanish economy weakens further or recovers more slowly than contemplated or if the economies of other markets ( e.g .", "france , brazil , latin america ) perform worse than contemplated in our discounted cash flow model , or if there are material changes to the projected future cash flows used in the impair- ment analyses , especially in net yields , an additional impairment charge of the pullmantur reporting unit 2019s goodwill may be required .", "note 4 .", "intangible assets intangible assets are reported in other assets in our consolidated balance sheets and consist of the follow- ing ( in thousands ) : ." ]

[ "during the fourth quarter of 2012 , we performed the annual impairment review of our trademarks and trade names using a discounted cash flow model and the relief-from-royalty method .", "the royalty rate used is based on comparable royalty agreements in the tourism and hospitality industry .", "these trademarks and trade names relate to pullmantur and we have used a discount rate comparable to the rate used in valuing the pullmantur reporting unit in our goodwill impairment test .", "as described in note 3 .", "goodwill , the continued deterioration of the spanish economy caused us to negatively adjust our cash flow projections for the pullmantur reporting unit , especially our closer-in net yield assumptions and the timing of future capacity growth for the brand .", "based on our updated cash flow projections , we determined that the fair value of pullmantur 2019s trademarks and trade names no longer exceeded their carrying value .", "accordingly , we recog- nized an impairment charge of approximately $ 17.4 million to write down trademarks and trade names to their fair value of $ 204.9 million .", "this impairment charge was recognized in earnings during the fourth quarter of 2012 and is reported within impairment of pullmantur related assets within our consolidated statements of comprehensive income ( loss ) .", "see note 13 .", "fair value measurements and derivative instruments for further discussion .", "if the spanish economy weakens further or recovers more slowly than contemplated or if the economies of other markets ( e.g .", "france , brazil , latin america ) 0494.indd 76 3/27/13 12:53 pm ." ]

[ [ "", "2012", "2011" ], [ "Indefinite-life intangible asset—Pullmantur trademarks and trade names", "$218,883", "$225,679" ], [ "Impairment charge", "(17,356)", "—" ], [ "Foreign currency translation adjustment", "3,339", "(6,796)" ], [ "Total", "$204,866", "$218,883" ] ]

[ [ "", "2012", "2011" ], [ "indefinite-life intangible asset 2014pullmantur trademarks and trade names", "$ 218883", "$ 225679" ], [ "impairment charge", "-17356 ( 17356 )", "2014" ], [ "foreign currency translation adjustment", "3339", "-6796 ( 6796 )" ], [ "total", "$ 204866", "$ 218883" ] ]

[]

[ "westrock company notes to consolidated financial statements 2014 ( continued ) consistent with prior years , we consider a portion of our earnings from certain foreign subsidiaries as subject to repatriation and we provide for taxes accordingly .", "however , we consider the unremitted earnings and all other outside basis differences from all other foreign subsidiaries to be indefinitely reinvested .", "accordingly , we have not provided for any taxes that would be due .", "as of september 30 , 2019 , we estimate our outside basis difference in foreign subsidiaries that are considered indefinitely reinvested to be approximately $ 1.6 billion .", "the components of the outside basis difference are comprised of purchase accounting adjustments , undistributed earnings , and equity components .", "except for the portion of our earnings from certain foreign subsidiaries where we provided for taxes , we have not provided for any taxes that would be due upon the reversal of the outside basis differences .", "however , in the event of a distribution in the form of dividends or dispositions of the subsidiaries , we may be subject to incremental u.s .", "income taxes , subject to an adjustment for foreign tax credits , and withholding taxes or income taxes payable to the foreign jurisdictions .", "as of september 30 , 2019 , the determination of the amount of unrecognized deferred tax liability related to any remaining undistributed foreign earnings not subject to the transition tax and additional outside basis differences is not practicable .", "a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in millions ) : ." ]

[ "( 1 ) amounts in fiscal 2019 relate to the kapstone acquisition .", "amounts in fiscal 2018 and 2017 relate to the mps acquisition .", "( 2 ) additions for tax positions taken in current fiscal year includes primarily positions taken related to foreign subsidiaries .", "( 3 ) amounts in fiscal 2019 relate to the settlements of state and foreign audit examinations .", "amounts in fiscal 2018 relate to the settlement of state audit examinations and federal and state amended returns filed related to affirmative adjustments for which there was a reserve .", "amounts in fiscal 2017 relate to the settlement of federal and state audit examinations with taxing authorities .", "as of september 30 , 2019 and 2018 , the total amount of unrecognized tax benefits was approximately $ 224.3 million and $ 127.1 million , respectively , exclusive of interest and penalties .", "of these balances , as of september 30 , 2019 and 2018 , if we were to prevail on all unrecognized tax benefits recorded , approximately $ 207.5 million and $ 108.7 million , respectively , would benefit the effective tax rate .", "we regularly evaluate , assess and adjust the related liabilities in light of changing facts and circumstances , which could cause the effective tax rate to fluctuate from period to period .", "resolution of the uncertain tax positions could have a material adverse effect on our cash flows or materially benefit our results of operations in future periods depending upon their ultimate resolution .", "see 201cnote 18 .", "commitments and contingencies 2014 brazil tax liability 201d we recognize estimated interest and penalties related to unrecognized tax benefits in income tax expense in the consolidated statements of income .", "as of september 30 , 2019 , we had liabilities of $ 80.0 million related to estimated interest and penalties for unrecognized tax benefits .", "as of september 30 , 2018 , we had liabilities of $ 70.4 million , related to estimated interest and penalties for unrecognized tax benefits .", "our results of operations for the fiscal year ended september 30 , 2019 , 2018 and 2017 include expense of $ 9.7 million , $ 5.8 million and $ 7.4 million , respectively , net of indirect benefits , related to estimated interest and penalties with respect to the liability for unrecognized tax benefits .", "as of september 30 , 2019 , it is reasonably possible that our unrecognized tax benefits will decrease by up to $ 8.7 million in the next twelve months due to expiration of various statues of limitations and settlement of issues. ." ]

[ [ "", "2019", "2018", "2017" ], [ "Balance at beginning of fiscal year", "$127.1", "$148.9", "$166.8" ], [ "Additions related to purchase accounting⁽¹⁾", "1.0", "3.4", "7.7" ], [ "Additions for tax positions taken in current year⁽²⁾", "103.8", "3.1", "5.0" ], [ "Additions for tax positions taken in prior fiscal years", "1.8", "18.0", "15.2" ], [ "Reductions for tax positions taken in prior fiscal years", "( 0.5)", "( 5.3)", "( 25.6)" ], [ "Reductions due to settlement⁽³⁾", "( 4.0)", "( 29.4)", "( 14.1)" ], [ "(Reductions) additions for currency translation adjustments", "(1.7)", "(9.6)", "2.0" ], [ "Reductions as a result of a lapse of the applicable statute oflimitations", "( 3.2)", "( 2.0)", "( 8.1)" ], [ "Balance at end of fiscal year", "$224.3", "$127.1", "$148.9" ] ]

[ [ "", "2019", "2018", "2017" ], [ "balance at beginning of fiscal year", "$ 127.1", "$ 148.9", "$ 166.8" ], [ "additions related to purchase accounting ( 1 )", "1.0", "3.4", "7.7" ], [ "additions for tax positions taken in current year ( 2 )", "103.8", "3.1", "5.0" ], [ "additions for tax positions taken in prior fiscal years", "1.8", "18.0", "15.2" ], [ "reductions for tax positions taken in prior fiscal years", "( 0.5 )", "( 5.3 )", "( 25.6 )" ], [ "reductions due to settlement ( 3 )", "( 4.0 )", "( 29.4 )", "( 14.1 )" ], [ "( reductions ) additions for currency translation adjustments", "-1.7 ( 1.7 )", "-9.6 ( 9.6 )", "2.0" ], [ "reductions as a result of a lapse of the applicable statute oflimitations", "( 3.2 )", "( 2.0 )", "( 8.1 )" ], [ "balance at end of fiscal year", "$ 224.3", "$ 127.1", "$ 148.9" ] ]

[ { "arg1": "127.1", "arg2": "148.9", "op": "minus1-1", "res": "-21.8" }, { "arg1": "#0", "arg2": "148.9", "op": "divide1-2", "res": "-14.6%" } ]

[ "likely than not that some portion or all of the deferred tax assets will not be realized .", "the accruals for deferred tax assets and liabilities are subject to a significant amount of judgment by management and are reviewed and adjusted routinely based on changes in facts and circumstances .", "material changes in these accruals may occur in the future , based on the progress of ongoing tax audits , changes in legislation and resolution of pending tax matters .", "forward-looking estimates we are providing our 2011 forward-looking estimates in this section .", "these estimates were based on our examination of historical operating trends , the information used to prepare our december 31 , 2010 , reserve reports and other data in our possession or available from third parties .", "the forward-looking estimates in this report were prepared assuming demand , curtailment , producibility and general market conditions for our oil , gas and ngls during 2011 will be similar to 2010 , unless otherwise noted .", "we make reference to the 201cdisclosure regarding forward-looking statements 201d at the beginning of this report .", "amounts related to our canadian operations have been converted to u.s .", "dollars using an estimated average 2011 exchange rate of $ 0.95 dollar to $ 1.00 canadian dollar .", "during 2011 , our operations are substantially comprised of our ongoing north america onshore operations .", "we also have international operations in brazil and angola that we are divesting .", "we have entered into agreements to sell our assets in brazil for $ 3.2 billion and our assets in angola for $ 70 million , plus contingent consideration .", "as a result of these divestitures , all revenues , expenses and capital related to our international operations are reported as discontinued operations in our financial statements .", "additionally , all forward-looking estimates in this document exclude amounts related to our international operations , unless otherwise noted .", "north america onshore operating items the following 2011 estimates relate only to our north america onshore assets .", "oil , gas and ngl production set forth below are our estimates of oil , gas and ngl production for 2011 .", "we estimate that our combined oil , gas and ngl production will total approximately 236 to 240 mmboe .", "( mmbbls ) ( mmbbls ) ( mmboe ) ." ]

[ "oil and gas prices we expect our 2011 average prices for the oil and gas production from each of our operating areas to differ from the nymex price as set forth in the following table .", "the expected ranges for prices are exclusive of the anticipated effects of the financial contracts presented in the 201ccommodity price risk management 201d section below .", "the nymex price for oil is determined using the monthly average of settled prices on each trading day for benchmark west texas intermediate crude oil delivered at cushing , oklahoma .", "the nymex price for gas is determined using the first-of-month south louisiana henry hub price index as published monthly in inside ." ]

[ [ "", "Oil (MMBbls)", "Gas (Bcf)", "NGLs (MMBbls)", "Total (MMBoe)" ], [ "U.S. Onshore", "17", "736", "34", "174" ], [ "Canada", "28", "199", "3", "64" ], [ "North America Onshore", "45", "935", "37", "238" ] ]

[ [ "", "oil ( mmbbls )", "gas ( bcf )", "ngls ( mmbbls )", "total ( mmboe )" ], [ "u.s . onshore", "17", "736", "34", "174" ], [ "canada", "28", "199", "3", "64" ], [ "north america onshore", "45", "935", "37", "238" ] ]

[ { "arg1": "736", "arg2": "935", "op": "divide2-1", "res": "0.7872" }, { "arg1": "#0", "arg2": "const_100", "op": "multiply2-2", "res": "78.72" } ]

[ "higher average borrowings .", "additionally , the recapitalization that occurred late in the first quarter of 2005 resulted in a full year of interest in 2006 as compared to approximately ten months in 2005 .", "the increase in interest expense in 2005 as compared to 2004 also resulted from the recapitalization in 2005 .", "income tax expense income tax expense totaled $ 150.2 million , $ 116.1 million and $ 118.3 million for 2006 , 2005 and 2004 , respectively .", "this resulted in an effective tax rate of 37.2% ( 37.2 % ) , 37.2% ( 37.2 % ) and 37.6% ( 37.6 % ) for 2006 , 2005 and 2004 , respectively .", "net earnings net earnings totaled $ 259.1 million , $ 196.6 and $ 189.4 million for 2006 , 2005 and 2004 , respectively , or $ 1.37 , $ 1.53 and $ 1.48 per diluted share , respectively .", "segment results of operations transaction processing services ( in thousands ) ." ]

[ "revenues for the transaction processing services segment are derived from three main revenue channels ; enterprise solutions , integrated financial solutions and international .", "revenues from transaction processing services totaled $ 2458.8 million , $ 1208.4 and $ 892.0 million for 2006 , 2005 and 2004 , respectively .", "the overall segment increase of $ 1250.4 million during 2006 , as compared to 2005 was primarily attributable to the certegy merger which contributed $ 1067.2 million to the overall increase .", "the majority of the remaining 2006 growth is attributable to organic growth within the historically owned integrated financial solutions and international revenue channels , with international including $ 31.9 million related to the newly formed business process outsourcing operation in brazil .", "the overall segment increase of $ 316.4 in 2005 as compared to 2004 results from the inclusion of a full year of results for the 2004 acquisitions of aurum , sanchez , kordoba , and intercept , which contributed $ 301.1 million of the increase .", "cost of revenues for the transaction processing services segment totaled $ 1914.1 million , $ 904.1 million and $ 667.1 million for 2006 , 2005 and 2004 , respectively .", "the overall segment increase of $ 1010.0 million during 2006 as compared to 2005 was primarily attributable to the certegy merger which contributed $ 848.2 million to the increase .", "gross profit as a percentage of revenues ( 201cgross margin 201d ) was 22.2% ( 22.2 % ) , 25.2% ( 25.2 % ) and 25.2% ( 25.2 % ) for 2006 , 2005 and 2004 , respectively .", "the decrease in gross profit in 2006 as compared to 2005 is primarily due to the february 1 , 2006 certegy merger , which businesses typically have lower margins than those of the historically owned fis businesses .", "incremental intangible asset amortization relating to the certegy merger also contributed to the decrease in gross margin .", "included in cost of revenues was depreciation and amortization of $ 272.4 million , $ 139.8 million , and $ 94.6 million for 2006 , 2005 and 2004 , respectively .", "selling , general and administrative expenses totaled $ 171.1 million , $ 94.9 million and $ 99.6 million for 2006 , 2005 and 2004 , respectively .", "the increase in 2006 compared to 2005 is primarily attributable to the certegy merger which contributed $ 73.7 million to the overall increase of $ 76.2 million .", "the decrease of $ 4.7 million in 2005 as compared to 2004 is primarily attributable to the effect of acquisition related costs in 2004 .", "included in selling , general and administrative expenses was depreciation and amortization of $ 11.0 million , $ 9.1 million and $ 2.3 million for 2006 , 2005 and 2004 , respectively. ." ]

[ [ "", "2006", "2005", "2004" ], [ "Processing and services revenues", "$2,458,777", "$1,208,430", "$892,033" ], [ "Cost of revenues", "1,914,148", "904,124", "667,078" ], [ "Gross profit", "544,629", "304,306", "224,955" ], [ "Selling, general and administrative expenses", "171,106", "94,889", "99,581" ], [ "Research and development costs", "70,879", "85,702", "54,038" ], [ "Operating income", "$302,644", "$123,715", "$71,336" ] ]

[ [ "", "2006", "2005", "2004" ], [ "processing and services revenues", "$ 2458777", "$ 1208430", "$ 892033" ], [ "cost of revenues", "1914148", "904124", "667078" ], [ "gross profit", "544629", "304306", "224955" ], [ "selling general and administrative expenses", "171106", "94889", "99581" ], [ "research and development costs", "70879", "85702", "54038" ], [ "operating income", "$ 302644", "$ 123715", "$ 71336" ] ]

[ { "arg1": "302644", "arg2": "123715", "op": "minus2-1", "res": "178929" }, { "arg1": "#0", "arg2": "123715", "op": "divide2-2", "res": "145%" } ]

[ "table of contents part ii price range our common stock commenced trading on the nasdaq national market under the symbol 201cmktx 201d on november 5 , 2004 .", "prior to that date , there was no public market for our common stock .", "on november 4 , 2004 , the registration statement relating to our initial public offering was declared effective by the sec .", "the high and low bid information for our common stock , as reported by nasdaq , was as follows : on march 28 , 2005 , the last reported closing price of our common stock on the nasdaq national market was $ 10.26 .", "holders there were approximately 188 holders of record of our common stock as of march 28 , 2005 .", "dividend policy we have not declared or paid any cash dividends on our capital stock since our inception .", "we intend to retain future earnings to finance the operation and expansion of our business and do not anticipate paying any cash dividends in the foreseeable future .", "in the event we decide to declare dividends on our common stock in the future , such declaration will be subject to the discretion of our board of directors .", "our board may take into account such matters as general business conditions , our financial results , capital requirements , contractual , legal , and regulatory restrictions on the payment of dividends by us to our stockholders or by our subsidiaries to us and any such other factors as our board may deem relevant .", "use of proceeds on november 4 , 2004 , the registration statement relating to our initial public offering ( no .", "333-112718 ) was declared effective .", "we received net proceeds from the sale of the shares of our common stock in the offering of $ 53.9 million , at an initial public offering price of $ 11.00 per share , after deducting underwriting discounts and commissions and estimated offering expenses .", "additionally , prior to the closing of the initial public offering , all outstanding shares of convertible preferred stock were converted into 14484493 shares of common stock and 4266310 shares of non-voting common stock .", "the underwriters for our initial public offering were credit suisse first boston llc , j.p .", "morgan securities inc. , banc of america securities llc , bear , stearns & co .", "inc .", "and ubs securities llc .", "all of the underwriters are affiliates of some of our broker-dealer clients and affiliates of some our institutional investor clients .", "in addition , affiliates of all the underwriters are stockholders of ours .", "except for salaries , and reimbursements for travel expenses and other out-of-pocket costs incurred in the ordinary course of business , none of the proceeds from the offering have been paid by us , directly or indirectly , to any of our directors or officers or any of their associates , or to any persons owning ten percent or more of our outstanding stock or to any of our affiliates .", "as of december 31 , 2004 , we have not used any of the net proceeds from the initial public offering for product development costs , sales and marketing activities and working capital .", "we have invested the proceeds from the offering in cash and cash equivalents and short-term marketable securities pending their use for these or other purposes .", "item 5 .", "market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities november 5 , 2004 december 31 , 2004 ." ]

[ "." ]

[ [ "High", "Low" ], [ "$24.41", "$12.75" ] ]

[ [ "high", "low" ], [ "$ 24.41", "$ 12.75" ] ]

[]

[ "$ 25.7 million in cash , including $ 4.2 million in taxes and 1373609 of hep 2019s common units having a fair value of $ 53.5 million .", "roadrunner / beeson pipelines transaction also on december 1 , 2009 , hep acquired our two newly constructed pipelines for $ 46.5 million , consisting of a 65- mile , 16-inch crude oil pipeline ( the 201croadrunner pipeline 201d ) that connects our navajo refinery lovington facility to a terminus of centurion pipeline l.p . 2019s pipeline extending between west texas and cushing , oklahoma and a 37- mile , 8-inch crude oil pipeline that connects hep 2019s new mexico crude oil gathering system to our navajo refinery lovington facility ( the 201cbeeson pipeline 201d ) .", "tulsa west loading racks transaction on august 1 , 2009 , hep acquired from us , certain truck and rail loading/unloading facilities located at our tulsa west facility for $ 17.5 million .", "the racks load refined products and lube oils produced at the tulsa west facility onto rail cars and/or tanker trucks .", "lovington-artesia pipeline transaction on june 1 , 2009 , hep acquired our newly constructed , 16-inch intermediate pipeline for $ 34.2 million that runs 65 miles from our navajo refinery 2019s crude oil distillation and vacuum facilities in lovington , new mexico to its petroleum refinery located in artesia , new mexico .", "slc pipeline joint venture interest on march 1 , 2009 , hep acquired a 25% ( 25 % ) joint venture interest in the slc pipeline , a new 95-mile intrastate pipeline system jointly owned with plains .", "the slc pipeline commenced operations effective march 2009 and allows various refineries in the salt lake city area , including our woods cross refinery , to ship crude oil into the salt lake city area from the utah terminus of the frontier pipeline as well as crude oil flowing from wyoming and utah via plains 2019 rocky mountain pipeline .", "hep 2019s capitalized joint venture contribution was $ 25.5 million .", "rio grande pipeline sale on december 1 , 2009 , hep sold its 70% ( 70 % ) interest in rio grande pipeline company ( 201crio grande 201d ) to a subsidiary of enterprise products partners lp for $ 35 million .", "results of operations of rio grande are presented in discontinued operations .", "in accounting for this sale , hep recorded a gain of $ 14.5 million and a receivable of $ 2.2 million representing its final distribution from rio grande .", "the recorded net asset balance of rio grande at december 1 , 2009 , was $ 22.7 million , consisting of cash of $ 3.1 million , $ 29.9 million in properties and equipment , net and $ 10.3 million in equity , representing bp , plc 2019s 30% ( 30 % ) noncontrolling interest .", "the following table provides income statement information related to hep 2019s discontinued operations : year ended december 31 , 2009 ( in thousands ) ." ]

[ "transportation agreements hep serves our refineries under long-term pipeline and terminal , tankage and throughput agreements expiring in 2019 through 2026 .", "under these agreements , we pay hep fees to transport , store and throughput volumes of refined product and crude oil on hep 2019s pipeline and terminal , tankage and loading rack facilities that result in minimum annual payments to hep .", "under these agreements , the agreed upon tariff rates are subject to annual tariff rate adjustments on july 1 at a rate based upon the percentage change in producer price index ( 201cppi 201d ) or federal energy ." ]

[ [ "", "Year Ended December 31, 2009 (In thousands)" ], [ "Income from discontinued operations before income taxes", "$5,367" ], [ "Income tax expense", "(942)" ], [ "Income from discontinued operations, net", "4,425" ], [ "Gain on sale of discontinued operations before income taxes", "14,479" ], [ "Income tax expense", "(1,978)" ], [ "Gain on sale of discontinued operations, net", "12,501" ], [ "Income from discontinued operations, net", "$16,926" ] ]

[ [ "", "year ended december 31 2009 ( in thousands )" ], [ "income from discontinued operations before income taxes", "$ 5367" ], [ "income tax expense", "-942 ( 942 )" ], [ "income from discontinued operations net", "4425" ], [ "gain on sale of discontinued operations before income taxes", "14479" ], [ "income tax expense", "-1978 ( 1978 )" ], [ "gain on sale of discontinued operations net", "12501" ], [ "income from discontinued operations net", "$ 16926" ] ]

[]

[ "benefits as an increase to earnings of $ 152 million ( $ 0.50 per share ) during the year ended december 31 , 2016 .", "additionally , we recognized additional income tax benefits as an increase to operating cash flows of $ 152 million during the year ended december 31 , 2016 .", "the new accounting standard did not impact any periods prior to january 1 , 2016 , as we applied the changes in the asu on a prospective basis .", "in september 2015 , the fasb issued asu no .", "2015-16 , business combinations ( topic 805 ) , which simplifies the accounting for adjustments made to preliminary amounts recognized in a business combination by eliminating the requirement to retrospectively account for those adjustments .", "instead , adjustments will be recognized in the period in which the adjustments are determined , including the effect on earnings of any amounts that would have been recorded in previous periods if the accounting had been completed at the acquisition date .", "we adopted the asu on january 1 , 2016 and are prospectively applying the asu to business combination adjustments identified after the date of adoption .", "in november 2015 , the fasb issued asu no .", "2015-17 , income taxes ( topic 740 ) , which simplifies the presentation of deferred income taxes and requires that deferred tax assets and liabilities , as well as any related valuation allowance , be classified as noncurrent in our consolidated balance sheets .", "we applied the provisions of the asu retrospectively and reclassified approximately $ 1.6 billion from current to noncurrent assets and approximately $ 140 million from current to noncurrent liabilities in our consolidated balance sheet as of december 31 , 2015 .", "note 2 2013 earnings per share the weighted average number of shares outstanding used to compute earnings per common share were as follows ( in millions ) : ." ]

[ "we compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented .", "our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units and exercise of outstanding stock options based on the treasury stock method .", "there were no anti-dilutive equity awards for the years ended december 31 , 2016 , 2015 and 2014 .", "note 3 2013 acquisitions and divestitures acquisitions acquisition of sikorsky aircraft corporation on november 6 , 2015 , we completed the acquisition of sikorsky aircraft corporation and certain affiliated companies ( collectively 201csikorsky 201d ) from united technologies corporation ( utc ) and certain of utc 2019s subsidiaries .", "the purchase price of the acquisition was $ 9.0 billion , net of cash acquired .", "as a result of the acquisition , sikorsky became a wholly- owned subsidiary of ours .", "sikorsky is a global company primarily engaged in the research , design , development , manufacture and support of military and commercial helicopters .", "sikorsky 2019s products include military helicopters such as the black hawk , seahawk , ch-53k , h-92 ; and commercial helicopters such as the s-76 and s-92 .", "the acquisition enables us to extend our core business into the military and commercial rotary wing markets , allowing us to strengthen our position in the aerospace and defense industry .", "further , this acquisition will expand our presence in commercial and international markets .", "sikorsky has been aligned under our rms business segment .", "to fund the $ 9.0 billion acquisition price , we utilized $ 6.0 billion of proceeds borrowed under a temporary 364-day revolving credit facility ( the 364-day facility ) , $ 2.0 billion of cash on hand and $ 1.0 billion from the issuance of commercial paper .", "in the fourth quarter of 2015 , we repaid all outstanding borrowings under the 364-day facility with the proceeds from the issuance of $ 7.0 billion of fixed interest-rate long-term notes in a public offering ( the november 2015 notes ) .", "in the fourth quarter of 2015 , we also repaid the $ 1.0 billion in commercial paper borrowings ( see 201cnote 10 2013 debt 201d ) . ." ]

[ [ "", "2016", "2015", "2014" ], [ "Weighted average common shares outstanding for basic computations", "299.3", "310.3", "316.8" ], [ "Weighted average dilutive effect of equity awards", "3.8", "4.4", "5.6" ], [ "Weighted average common shares outstanding for dilutedcomputations", "303.1", "314.7", "322.4" ] ]

[ [ "", "2016", "2015", "2014" ], [ "weighted average common shares outstanding for basic computations", "299.3", "310.3", "316.8" ], [ "weighted average dilutive effect of equity awards", "3.8", "4.4", "5.6" ], [ "weighted average common shares outstanding for dilutedcomputations", "303.1", "314.7", "322.4" ] ]

[ { "arg1": "299.3", "arg2": "310.3", "op": "minus1-1", "res": "-11" }, { "arg1": "#0", "arg2": "310.3", "op": "divide1-2", "res": "-3.5%" } ]

[ "management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) corporate and other expenses increased slightly during 2013 by $ 3.5 to $ 140.8 compared to 2012 , primarily due to an increase in salaries and related expenses , mainly attributable to higher base salaries , benefits and temporary help , partially offset by lower severance expenses and a decrease in office and general expenses .", "liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity , capital resources and uses of capital. ." ]

[ "1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets , amortization of restricted stock and other non-cash compensation , non-cash ( gain ) loss related to early extinguishment of debt , and deferred income taxes .", "2 reflects changes in accounts receivable , expenditures billable to clients , other current assets , accounts payable and accrued liabilities .", "operating activities net cash provided by operating activities during 2014 was $ 669.5 , which was an improvement of $ 76.6 as compared to 2013 , primarily as a result of an increase in net income , offset by an increase in working capital usage of $ 121.5 .", "due to the seasonality of our business , we typically generate cash from working capital in the second half of a year and use cash from working capital in the first half of a year , with the largest impacts in the first and fourth quarters .", "our net working capital usage in 2014 was impacted by our media businesses .", "net cash provided by operating activities during 2013 was $ 592.9 , which was an increase of $ 235.7 as compared to 2012 , primarily as a result of an improvement in working capital usage of $ 283.6 , offset by a decrease in net income .", "the improvement in working capital in 2013 was impacted by our media businesses and an ongoing focus on working capital management at our agencies .", "the timing of media buying on behalf of our clients affects our working capital and operating cash flow .", "in most of our businesses , our agencies enter into commitments to pay production and media costs on behalf of clients .", "to the extent possible we pay production and media charges after we have received funds from our clients .", "the amounts involved substantially exceed our revenues and primarily affect the level of accounts receivable , expenditures billable to clients , accounts payable and accrued liabilities .", "our assets include both cash received and accounts receivable from clients for these pass-through arrangements , while our liabilities include amounts owed on behalf of clients to media and production suppliers .", "our accrued liabilities are also affected by the timing of certain other payments .", "for example , while annual cash incentive awards are accrued throughout the year , they are generally paid during the first quarter of the subsequent year .", "investing activities net cash used in investing activities during 2014 primarily related to payments for capital expenditures and acquisitions .", "capital expenditures of $ 148.7 related primarily to computer hardware and software and leasehold improvements .", "we made payments of $ 67.8 related to acquisitions completed during 2014 , net of cash acquired. ." ]

[ [ "", "Years ended December 31," ], [ "Cash Flow Data", "2014", "2013", "2012" ], [ "Net income, adjusted to reconcile net income to net cashprovided by operating activities¹", "$831.2", "$598.4", "$697.2" ], [ "Net cash used in working capital ²", "(131.1)", "(9.6)", "(293.2)" ], [ "Changes in other non-current assets and liabilities using cash", "(30.6)", "4.1", "(46.8)" ], [ "Net cash provided by operating activities", "$669.5", "$592.9", "$357.2" ], [ "Net cash used in investing activities", "(200.8)", "(224.5)", "(210.2)" ], [ "Net cash (used in) provided by financing activities", "(343.9)", "(1,212.3)", "131.3" ] ]

[ [ "cash flow data", "years ended december 31 , 2014", "years ended december 31 , 2013", "years ended december 31 , 2012" ], [ "net income adjusted to reconcile net income to net cashprovided by operating activities1", "$ 831.2", "$ 598.4", "$ 697.2" ], [ "net cash used in working capital b2", "-131.1 ( 131.1 )", "-9.6 ( 9.6 )", "-293.2 ( 293.2 )" ], [ "changes in other non-current assets and liabilities using cash", "-30.6 ( 30.6 )", "4.1", "-46.8 ( 46.8 )" ], [ "net cash provided by operating activities", "$ 669.5", "$ 592.9", "$ 357.2" ], [ "net cash used in investing activities", "-200.8 ( 200.8 )", "-224.5 ( 224.5 )", "-210.2 ( 210.2 )" ], [ "net cash ( used in ) provided by financing activities", "-343.9 ( 343.9 )", "-1212.3 ( 1212.3 )", "131.3" ] ]

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[ "interest expense , net was $ 26.4 million , $ 14.6 million , and $ 5.3 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .", "interest expense includes the amortization of deferred financing costs , bank fees , capital and built-to-suit lease interest and interest expense under the credit and other long term debt facilities .", "amortization of deferred financing costs was $ 1.2 million , $ 0.8 million , and $ 0.6 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .", "the company monitors the financial health and stability of its lenders under the credit and other long term debt facilities , however during any period of significant instability in the credit markets lenders could be negatively impacted in their ability to perform under these facilities .", "6 .", "commitments and contingencies obligations under operating leases the company leases warehouse space , office facilities , space for its brand and factory house stores and certain equipment under non-cancelable operating leases .", "the leases expire at various dates through 2033 , excluding extensions at the company 2019s option , and include provisions for rental adjustments .", "the table below includes executed lease agreements for brand and factory house stores that the company did not yet occupy as of december 31 , 2016 and does not include contingent rent the company may incur at its stores based on future sales above a specified minimum or payments made for maintenance , insurance and real estate taxes .", "the following is a schedule of future minimum lease payments for non-cancelable real property operating leases as of december 31 , 2016 as well as significant operating lease agreements entered into during the period after december 31 , 2016 through the date of this report : ( in thousands ) ." ]

[ "included in selling , general and administrative expense was rent expense of $ 109.0 million , $ 83.0 million and $ 59.0 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , under non-cancelable operating lease agreements .", "included in these amounts was contingent rent expense of $ 13.0 million , $ 11.0 million and $ 11.0 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .", "sports marketing and other commitments within the normal course of business , the company enters into contractual commitments in order to promote the company 2019s brand and products .", "these commitments include sponsorship agreements with teams and athletes on the collegiate and professional levels , official supplier agreements , athletic event sponsorships and other marketing commitments .", "the following is a schedule of the company 2019s future minimum payments under its sponsorship and other marketing agreements as of december 31 ." ]

[ [ "2017", "$114,857" ], [ "2018", "127,504" ], [ "2019", "136,040" ], [ "2020", "133,092" ], [ "2021", "122,753" ], [ "2022 and thereafter", "788,180" ], [ "Total future minimum lease payments", "$1,422,426" ] ]

[ [ "2017", "$ 114857" ], [ "2018", "127504" ], [ "2019", "136040" ], [ "2020", "133092" ], [ "2021", "122753" ], [ "2022 and thereafter", "788180" ], [ "total future minimum lease payments", "$ 1422426" ] ]

[]

[ "17 .", "leases we lease certain locomotives , freight cars , and other property .", "the consolidated statements of financial position as of december 31 , 2017 , and 2016 included $ 1635 million , net of $ 953 million of accumulated depreciation , and $ 1997 million , net of $ 1121 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 , 2017 , were as follows : millions operating leases capital leases ." ]

[ "approximately 97% ( 97 % ) of capital lease payments relate to locomotives .", "rent expense for operating leases with terms exceeding one month was $ 480 million in 2017 , $ 535 million in 2016 , and $ 590 million in 2015 .", "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 .", "18 .", "commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries .", "we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity .", "to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated .", "we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters .", "personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year .", "we use an actuarial analysis to measure the expense and liability , including unasserted claims .", "the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents .", "under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements .", "we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work .", "our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments .", "approximately 95% ( 95 % ) of the recorded liability is related to asserted claims and approximately 5% ( 5 % ) is related to unasserted claims at december 31 , 2017 .", "because of the uncertainty surrounding the ultimate outcome of personal injury claims , it is reasonably possible that future costs to settle these claims may range from approximately $ 285 million to $ 310 million .", "we record an accrual at the low end of the range as no amount of loss within the range is more probable than any other .", "estimates can vary over time due to evolving trends in litigation. ." ]

[ [ "Millions", "OperatingLeases", "CapitalLeases" ], [ "2018", "$398", "$173" ], [ "2019", "359", "156" ], [ "2020", "297", "164" ], [ "2021", "259", "168" ], [ "2022", "221", "147" ], [ "Later years", "1,115", "271" ], [ "Total minimum lease payments", "$2,649", "$1,079" ], [ "Amount representing interest", "N/A", "(187)" ], [ "Present value of minimum lease payments", "N/A", "$892" ] ]

[ [ "millions", "operatingleases", "capitalleases" ], [ "2018", "$ 398", "$ 173" ], [ "2019", "359", "156" ], [ "2020", "297", "164" ], [ "2021", "259", "168" ], [ "2022", "221", "147" ], [ "later years", "1115", "271" ], [ "total minimum lease payments", "$ 2649", "$ 1079" ], [ "amount representing interest", "n/a", "-187 ( 187 )" ], [ "present value of minimum lease payments", "n/a", "$ 892" ] ]

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[ "third-party sales for this segment increased 4% ( 4 % ) in 2014 compared with 2013 , primarily due to higher volumes and the acquisition of firth rixson ( $ 81 2014see above ) .", "the higher volumes were mostly related to the aerospace ( commercial ) and commercial transportation end markets , somewhat offset by lower volumes in the industrial gas turbine end market .", "atoi for the engineered products and solutions segment increased $ 16 in 2015 compared with 2014 , principally the result of net productivity improvements across most businesses , a positive contribution from inorganic growth , and overall higher volumes in this segment 2019s organic businesses .", "these positive impacts were partially offset by unfavorable price/product mix , higher costs related to growth projects , and net unfavorable foreign currency movements , primarily related to a weaker euro .", "atoi for this segment climbed $ 10 in 2014 compared with 2013 , mainly due to net productivity improvements across all businesses and overall higher volumes , partially offset by higher costs , primarily labor , and unfavorable product in 2016 , demand in the commercial aerospace end market is expected to remain strong , driven by significant order backlog .", "also , third-party sales will include a positive impact due to a full year of sales related to the acquisitions of rti and tital .", "additionally , net productivity improvements are anticipated while pricing pressure across all markets is expected .", "transportation and construction solutions ." ]

[ "this segment represents a portion of alcoa 2019s downstream operations and produces products that are used mostly in the nonresidential building and construction and commercial transportation end markets .", "such products include integrated aluminum structural systems , architectural extrusions , and forged aluminum commercial vehicle wheels , which are sold directly to customers and through distributors .", "a small part of this segment also produces aluminum products for the industrial products end market .", "generally , the sales and costs and expenses of this segment are transacted in the local currency of the respective operations , which are mostly the u.s .", "dollar , the euro , and the brazilian real .", "third-party sales for the transportation and construction solutions segment decreased 7% ( 7 % ) in 2015 compared with 2014 , primarily driven by unfavorable foreign currency movements , principally caused by a weaker euro and brazilian real , and lower volume related to the building and construction end market , somewhat offset by higher volume related to the commercial transportation end market .", "third-party sales for this segment increased 4% ( 4 % ) in 2014 compared with 2013 , mostly the result of higher volume related to the commercial transportation and building and construction end markets , somewhat offset by lower volume in the industrial products and market .", "atoi for the transportation and construction solutions segment declined $ 14 in 2015 compared with 2014 , mainly due to higher costs , net unfavorable foreign currency movements , primarily related to a weaker euro and brazilian real , and unfavorable price/product mix .", "these negative impacts were mostly offset by net productivity improvements across all businesses .", "atoi for this segment improved $ 13 in 2014 compared with 2013 , principally attributable to net productivity improvements across all businesses and overall higher volumes , partially offset by unfavorable product mix and higher costs , primarily labor .", "in 2016 , the non-residential building and construction end market is expected to improve through growth in north america but will be slightly offset by overall weakness in europe .", "also , north america build rates in the commercial ." ]

[ [ "", "2015", "2014", "2013" ], [ "Third-party sales", "$1,882", "$2,021", "$1,951" ], [ "ATOI", "$166", "$180", "$167" ] ]

[ [ "", "2015", "2014", "2013" ], [ "third-party sales", "$ 1882", "$ 2021", "$ 1951" ], [ "atoi", "$ 166", "$ 180", "$ 167" ] ]

[]

[ "table of contents the following performance graph is not 201csoliciting material , 201d is not deemed filed with the sec , and is not to be incorporated by reference into any of valero 2019s filings under the securities act of 1933 or the securities exchange act of 1934 , as amended , respectively .", "this performance graph and the related textual information are based on historical data and are not indicative of future performance .", "the following line graph compares the cumulative total return 1 on an investment in our common stock against the cumulative total return of the s&p 500 composite index and an index of peer companies ( that we selected ) for the five-year period commencing december 31 , 2008 and ending december 31 , 2013 .", "our peer group comprises the following 11 companies : alon usa energy , inc. ; bp plc ; cvr energy , inc. ; delek us holdings , inc .", "( dk ) ; hollyfrontier corporation ; marathon petroleum corporation ; pbf energy inc .", "( pbf ) ; phillips 66 ; royal dutch shell plc ; tesoro corporation ; and western refining , inc .", "our peer group previously included hess corporation , but it has exited the refining business , and was replaced in our peer group by dk and pbf who are also engaged in refining operations .", "comparison of 5 year cumulative total return1 among valero energy corporation , the s&p 500 index , old peer group , and new peer group ." ]

[ "____________ 1 assumes that an investment in valero common stock and each index was $ 100 on december 31 , 2008 .", "201ccumulative total return 201d is based on share price appreciation plus reinvestment of dividends from december 31 , 2008 through december 31 , 2013. ." ]

[ [ "", "12/2008", "12/2009", "12/2010", "12/2011", "12/2012", "12/2013" ], [ "Valero Common Stock", "$100.00", "$79.77", "$111.31", "$102.57", "$170.45", "$281.24" ], [ "S&P 500", "100.00", "126.46", "145.51", "148.59", "172.37", "228.19" ], [ "Old Peer Group", "100.00", "126.98", "122.17", "127.90", "138.09", "170.45" ], [ "New Peer Group", "100.00", "127.95", "120.42", "129.69", "136.92", "166.57" ] ]

[ [ "", "12/2008", "12/2009", "12/2010", "12/2011", "12/2012", "12/2013" ], [ "valero common stock", "$ 100.00", "$ 79.77", "$ 111.31", "$ 102.57", "$ 170.45", "$ 281.24" ], [ "s&p 500", "100.00", "126.46", "145.51", "148.59", "172.37", "228.19" ], [ "old peer group", "100.00", "126.98", "122.17", "127.90", "138.09", "170.45" ], [ "new peer group", "100.00", "127.95", "120.42", "129.69", "136.92", "166.57" ] ]

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[ "( 1 ) includes shares repurchased through our publicly announced share repurchase program and shares tendered to pay the exercise price and tax withholding on employee stock options .", "shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the securities and exchange commission , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing .", "the following graph shows a five-year comparison of cumulative total shareowners 2019 returns for our class b common stock , the s&p 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 , 2004 in the s&p 500 index , the dow jones transportation average , and our class b common stock .", "comparison of five year cumulative total return $ 40.00 $ 60.00 $ 80.00 $ 100.00 $ 120.00 $ 140.00 $ 160.00 2004 20092008200720062005 s&p 500 ups dj transport ." ]

[ "." ]

[ [ "", "12/31/04", "12/31/05", "12/31/06", "12/31/07", "12/31/08", "12/31/09" ], [ "United Parcel Service, Inc.", "$100.00", "$89.49", "$91.06", "$87.88", "$70.48", "$75.95" ], [ "S&P 500 Index", "$100.00", "$104.91", "$121.48", "$128.15", "$80.74", "$102.11" ], [ "Dow Jones Transportation Average", "$100.00", "$111.65", "$122.61", "$124.35", "$97.72", "$115.88" ] ]

[ [ "", "12/31/04", "12/31/05", "12/31/06", "12/31/07", "12/31/08", "12/31/09" ], [ "united parcel service inc .", "$ 100.00", "$ 89.49", "$ 91.06", "$ 87.88", "$ 70.48", "$ 75.95" ], [ "s&p 500 index", "$ 100.00", "$ 104.91", "$ 121.48", "$ 128.15", "$ 80.74", "$ 102.11" ], [ "dow jones transportation average", "$ 100.00", "$ 111.65", "$ 122.61", "$ 124.35", "$ 97.72", "$ 115.88" ] ]

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[ "entergy mississippi , inc .", "management 2019s financial discussion and analysis the net wholesale revenue variance is primarily due to entergy mississippi 2019s exit from the system agreement in november 2015 .", "the reserve equalization revenue variance is primarily due to the absence of reserve equalization revenue as compared to the same period in 2015 resulting from entergy mississippi 2019s exit from the system agreement in november 2015 compared to 2014 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .", "following is an analysis of the change in net revenue comparing 2015 to 2014 .", "amount ( in millions ) ." ]

[ "the volume/weather variance is primarily due to an increase of 86 gwh , or 1% ( 1 % ) , in billed electricity usage , including the effect of more favorable weather on residential and commercial sales .", "the retail electric price variance is primarily due to a $ 16 million net annual increase in revenues , effective february 2015 , as a result of the mpsc order in the june 2014 rate case and an increase in revenues collected through the energy efficiency rider , partially offset by a decrease in revenues collected through the storm damage rider .", "the rate case included the realignment of certain costs from collection in riders to base rates .", "see note 2 to the financial statements for a discussion of the rate case , the energy efficiency rider , and the storm damage rider .", "the net wholesale revenue variance is primarily due to a wholesale customer contract termination in october transmission equalization revenue represents amounts received by entergy mississippi from certain other entergy utility operating companies , in accordance with the system agreement , to allocate the costs of collectively planning , constructing , and operating entergy 2019s bulk transmission facilities .", "the transmission equalization variance is primarily attributable to the realignment , effective february 2015 , of these revenues from the determination of base rates to inclusion in a rider .", "such revenues had a favorable effect on net revenue in 2014 , but minimal effect in 2015 .", "entergy mississippi exited the system agreement in november 2015 .", "see note 2 to the financial statements for a discussion of the system agreement .", "reserve equalization revenue represents amounts received by entergy mississippi from certain other entergy utility operating companies , in accordance with the system agreement , to allocate the costs of collectively maintaining adequate electric generating capacity across the entergy system .", "the reserve equalization variance is primarily attributable to the realignment , effective february 2015 , of these revenues from the determination of base rates to inclusion in a rider .", "such revenues had a favorable effect on net revenue in 2014 , but minimal effect in 2015 .", "entergy ." ]

[ [ "", "Amount (In Millions)" ], [ "2014 net revenue", "$701.2" ], [ "Volume/weather", "8.9" ], [ "Retail electric price", "7.3" ], [ "Net wholesale revenue", "(2.7)" ], [ "Transmission equalization", "(5.4)" ], [ "Reserve equalization", "(5.5)" ], [ "Other", "(7.5)" ], [ "2015 net revenue", "$696.3" ] ]

[ [ "", "amount ( in millions )" ], [ "2014 net revenue", "$ 701.2" ], [ "volume/weather", "8.9" ], [ "retail electric price", "7.3" ], [ "net wholesale revenue", "-2.7 ( 2.7 )" ], [ "transmission equalization", "-5.4 ( 5.4 )" ], [ "reserve equalization", "-5.5 ( 5.5 )" ], [ "other", "-7.5 ( 7.5 )" ], [ "2015 net revenue", "$ 696.3" ] ]

[ { "arg1": "696.3", "arg2": "701.2", "op": "minus1-1", "res": "-4.9" }, { "arg1": "#0", "arg2": "701.2", "op": "divide1-2", "res": "-0.7%" } ]

[ "interest expense , net was $ 26.4 million , $ 14.6 million , and $ 5.3 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .", "interest expense includes the amortization of deferred financing costs , bank fees , capital and built-to-suit lease interest and interest expense under the credit and other long term debt facilities .", "amortization of deferred financing costs was $ 1.2 million , $ 0.8 million , and $ 0.6 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .", "the company monitors the financial health and stability of its lenders under the credit and other long term debt facilities , however during any period of significant instability in the credit markets lenders could be negatively impacted in their ability to perform under these facilities .", "6 .", "commitments and contingencies obligations under operating leases the company leases warehouse space , office facilities , space for its brand and factory house stores and certain equipment under non-cancelable operating leases .", "the leases expire at various dates through 2033 , excluding extensions at the company 2019s option , and include provisions for rental adjustments .", "the table below includes executed lease agreements for brand and factory house stores that the company did not yet occupy as of december 31 , 2016 and does not include contingent rent the company may incur at its stores based on future sales above a specified minimum or payments made for maintenance , insurance and real estate taxes .", "the following is a schedule of future minimum lease payments for non-cancelable real property operating leases as of december 31 , 2016 as well as significant operating lease agreements entered into during the period after december 31 , 2016 through the date of this report : ( in thousands ) ." ]

[ "included in selling , general and administrative expense was rent expense of $ 109.0 million , $ 83.0 million and $ 59.0 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , under non-cancelable operating lease agreements .", "included in these amounts was contingent rent expense of $ 13.0 million , $ 11.0 million and $ 11.0 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .", "sports marketing and other commitments within the normal course of business , the company enters into contractual commitments in order to promote the company 2019s brand and products .", "these commitments include sponsorship agreements with teams and athletes on the collegiate and professional levels , official supplier agreements , athletic event sponsorships and other marketing commitments .", "the following is a schedule of the company 2019s future minimum payments under its sponsorship and other marketing agreements as of december 31 ." ]

[ [ "2017", "$114,857" ], [ "2018", "127,504" ], [ "2019", "136,040" ], [ "2020", "133,092" ], [ "2021", "122,753" ], [ "2022 and thereafter", "788,180" ], [ "Total future minimum lease payments", "$1,422,426" ] ]

[ [ "2017", "$ 114857" ], [ "2018", "127504" ], [ "2019", "136040" ], [ "2020", "133092" ], [ "2021", "122753" ], [ "2022 and thereafter", "788180" ], [ "total future minimum lease payments", "$ 1422426" ] ]

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[ "30 2018 ppg annual report and 10-k foreign currency translation partially offset by : cost reclassifications associated with the adoption of the new revenue recognition standard .", "refer to note 2 , \"revenue recognition\" within part 2 of this form 10-k cost management including restructuring cost savings 2017 vs .", "2016 selling , general and administrative expenses decreased $ 1 million primarily due to : lower net periodic pension and other postretirement benefit costs lower selling and advertising costs restructuring cost savings partially offset by : wage and other cost inflation selling , general and administrative expenses from acquired businesses foreign currency translation other charges and other income ." ]

[ "interest expense , net of interest income interest expense , net of interest income increased $ 10 million in 2018 versus 2017 primarily due to the issuance of long- term debt in early 2018 .", "interest expense , net of interest income decreased $ 14 million in 2017 versus 2016 due to lower interest rate debt outstanding in 2017 .", "business restructuring , net a pretax restructuring charge of $ 83 million was recorded in the second quarter of 2018 , offset by certain changes in estimates to complete previously recorded programs of $ 17 million .", "a pretax charge of $ 191 million was recorded in 2016 .", "refer to note 8 , \"business restructuring\" in item 8 of this form 10-k for additional information .", "pension settlement charges during 2017 , ppg made lump-sum payments to certain retirees who had participated in ppg's u.s .", "qualified and non- qualified pension plans totaling approximately $ 127 million .", "as the lump-sum payments were in excess of the expected 2017 service and interest costs for the affected plans , ppg remeasured the periodic benefit obligation of these plans in the period payments were made and recorded settlement charges totaling $ 60 million ( $ 38 million after-tax ) during 2017 .", "during 2016 , ppg permanently transferred approximately $ 1.8 billion of its u.s .", "and canadian pension obligations and assets to several highly rated insurance companies .", "these actions triggered remeasurement and partial settlement of certain of the company 2019s defined benefit pension plans .", "ppg recognized a $ 968 million pre-tax settlement charge in connection with these transactions .", "refer to note 13 , \"employee benefit plans\" in item 8 of this form 10-k for additional information .", "other charges other charges in 2018 and 2016 were higher than 2017 primarily due to environmental remediation charges .", "these charges were principally for environmental remediation at a former chromium manufacturing plant and associated sites in new jersey .", "refer to note 14 , \"commitments and contingent liabilities\" in item 8 of this form 10-k for additional information .", "other income other income was lower in 2018 and 2016 than in 2017 primarily due to the gain from the sale of the mexican plaka business of $ 25 million and income from a legal settlement of $ 18 million in 2017 .", "refer to note 3 , \"acquisitions and divestitures\" in item 8 of this form 10-k for additional information. ." ]

[ [ "", "", "% Change" ], [ "($ in millions, except percentages)", "2018", "2017", "2016", "2018 vs. 2017", "2017 vs. 2016" ], [ "Interest expense, net of Interest income", "$95", "$85", "$99", "11.8%", "(14.1)%" ], [ "Business restructuring, net", "$66", "$—", "$191", "N/A", "(100.0)%" ], [ "Pension settlement charges", "$—", "$60", "$968", "(100.0)%", "(93.8)%" ], [ "Other charges", "$122", "$74", "$242", "64.9%", "(69.4)%" ], [ "Other income", "($114)", "($150)", "($127)", "(24.0)%", "18.1%" ] ]

[ [ "( $ in millions except percentages )", "2018", "% ( % ) change 2017", "% ( % ) change 2016", "% ( % ) change 2018 vs . 2017", "% ( % ) change 2017 vs . 2016" ], [ "interest expense net of interest income", "$ 95", "$ 85", "$ 99", "11.8% ( 11.8 % )", "( 14.1 ) % ( % )" ], [ "business restructuring net", "$ 66", "$ 2014", "$ 191", "n/a", "( 100.0 ) % ( % )" ], [ "pension settlement charges", "$ 2014", "$ 60", "$ 968", "( 100.0 ) % ( % )", "( 93.8 ) % ( % )" ], [ "other charges", "$ 122", "$ 74", "$ 242", "64.9% ( 64.9 % )", "( 69.4 ) % ( % )" ], [ "other income", "( $ 114 )", "( $ 150 )", "( $ 127 )", "( 24.0 ) % ( % )", "18.1% ( 18.1 % )" ] ]

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[ "the company recognizes the effect of income tax positions only if sustaining those positions is more likely than not .", "changes in recognition or measurement are reflected in the period in which a change in judgment occurs .", "the company records penalties and interest related to unrecognized tax benefits in income taxes in the company 2019s consolidated statements of income .", "changes in accounting principles business combinations and noncontrolling interests on january 1 , 2009 , the company adopted revised principles related to business combinations and noncontrolling interests .", "the revised principle on business combinations applies to all transactions or other events in which an entity obtains control over one or more businesses .", "it requires an acquirer to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at the acquisition date , measured at their fair values as of that date .", "business combinations achieved in stages require recognition of the identifiable assets and liabilities , as well as the noncontrolling interest in the acquiree , at the full amounts of their fair values when control is obtained .", "this revision also changes the requirements for recognizing assets acquired and liabilities assumed arising from contingencies , and requires direct acquisition costs to be expensed .", "in addition , it provides certain changes to income tax accounting for business combinations which apply to both new and previously existing business combinations .", "in april 2009 , additional guidance was issued which revised certain business combination guidance related to accounting for contingent liabilities assumed in a business combination .", "the company has adopted this guidance in conjunction with the adoption of the revised principles related to business combinations .", "the adoption of the revised principles related to business combinations has not had a material impact on the consolidated financial statements .", "the revised principle related to noncontrolling interests establishes accounting and reporting standards for the noncontrolling interests in a subsidiary and for the deconsolidation of a subsidiary .", "the revised principle clarifies that a noncontrolling interest in a subsidiary is an ownership interest in the consolidated entity that should be reported as a separate component of equity in the consolidated statements of financial position .", "the revised principle requires retrospective adjustments , for all periods presented , of stockholders 2019 equity and net income for noncontrolling interests .", "in addition to these financial reporting changes , the revised principle provides for significant changes in accounting related to changes in ownership of noncontrolling interests .", "changes in aon 2019s controlling financial interests in consolidated subsidiaries that do not result in a loss of control are accounted for as equity transactions similar to treasury stock transactions .", "if a change in ownership of a consolidated subsidiary results in a loss of control and deconsolidation , any retained ownership interests are remeasured at fair value with the gain or loss reported in net income .", "in previous periods , noncontrolling interests for operating subsidiaries were reported in other general expenses in the consolidated statements of income .", "prior period amounts have been restated to conform to the current year 2019s presentation .", "the principal effect on the prior years 2019 balance sheets related to the adoption of the new guidance related to noncontrolling interests is summarized as follows ( in millions ) : ." ]

[ "the revised principle also requires that net income be adjusted to include the net income attributable to the noncontrolling interests and a new separate caption for net income attributable to aon stockholders be presented in the consolidated statements of income .", "the adoption of this new guidance increased net income by $ 16 million and $ 13 million for 2008 and 2007 , respectively .", "net ." ]

[ [ "As of December 31", "2008", "2007" ], [ "Equity, as previously reported", "$5,310", "$6,221" ], [ "Increase for reclassification of non-controlling interests", "105", "40" ], [ "Equity, as adjusted", "$5,415", "$6,261" ] ]

[ [ "as of december 31", "2008", "2007" ], [ "equity as previously reported", "$ 5310", "$ 6221" ], [ "increase for reclassification of non-controlling interests", "105", "40" ], [ "equity as adjusted", "$ 5415", "$ 6261" ] ]

[ { "arg1": "105", "arg2": "40", "op": "minus1-1", "res": "65" }, { "arg1": "#0", "arg2": "40", "op": "divide1-2", "res": "162.5%" } ]

[ "advance auto parts , inc .", "schedule ii - valuation and qualifying accounts ( in thousands ) allowance for doubtful accounts receivable : balance at beginning of period charges to expenses deductions balance at end of period january 3 , 2015 $ 13295 $ 17182 $ ( 14325 ) ( 1 ) $ 16152 january 2 , 2016 16152 22067 ( 12461 ) ( 1 ) 25758 december 31 , 2016 25758 24597 ( 21191 ) ( 1 ) 29164 ( 1 ) accounts written off during the period .", "these amounts did not impact the company 2019s statement of operations for any year presented .", "note : other valuation and qualifying accounts have not been reported in this schedule because they are either not applicable or because the information has been included elsewhere in this report. ." ]

[ "advance auto parts , inc .", "schedule ii - valuation and qualifying accounts ( in thousands ) allowance for doubtful accounts receivable : balance at beginning of period charges to expenses deductions balance at end of period january 3 , 2015 $ 13295 $ 17182 $ ( 14325 ) ( 1 ) $ 16152 january 2 , 2016 16152 22067 ( 12461 ) ( 1 ) 25758 december 31 , 2016 25758 24597 ( 21191 ) ( 1 ) 29164 ( 1 ) accounts written off during the period .", "these amounts did not impact the company 2019s statement of operations for any year presented .", "note : other valuation and qualifying accounts have not been reported in this schedule because they are either not applicable or because the information has been included elsewhere in this report. ." ]

[ [ "Allowance for doubtful accounts receivable:", "Balance atBeginningof Period", "Charges toExpenses", "Deductions", "", "Balance atEnd ofPeriod" ], [ "January 3, 2015", "$13,295", "$17,182", "$(14,325)", "⁽¹⁾", "$16,152" ], [ "January 2, 2016", "16,152", "22,067", "(12,461)", "⁽¹⁾", "25,758" ], [ "December 31, 2016", "25,758", "24,597", "(21,191)", "⁽¹⁾", "29,164" ] ]

[ [ "allowance for doubtful accounts receivable:", "balance atbeginningof period", "charges toexpenses", "deductions", "", "balance atend ofperiod" ], [ "january 3 2015", "$ 13295", "$ 17182", "$ -14325 ( 14325 )", "-1 ( 1 )", "$ 16152" ], [ "january 2 2016", "16152", "22067", "-12461 ( 12461 )", "-1 ( 1 )", "25758" ], [ "december 31 2016", "25758", "24597", "-21191 ( 21191 )", "-1 ( 1 )", "29164" ] ]

[]

[ "for purposes of determining entergy corporation's relative performance for the 2006-2008 period , the committee used the philadelphia utility index as the peer group .", "based on market data and the recommendation of management , the committee compared entergy corporation's total shareholder return against the total shareholder return of the companies that comprised the philadelphia utility index .", "based on a comparison of entergy corporation's performance relative to the philadelphia utility index as described above , the committee concluded that entergy corporation had exceeded the performance targets for the 2006-2008 performance cycle with entergy finishing in the first quartile which resulted in a payment of 250% ( 250 % ) of target ( the maximum amount payable ) .", "each performance unit was then automatically converted into cash at the rate of $ 83.13 per unit , the closing price of entergy corporation common stock on the last trading day of the performance cycle ( december 31 , 2008 ) , plus dividend equivalents accrued over the three-year performance cycle .", "see the 2008 option exercises and stock vested table for the amount paid to each of the named executive officers for the 2006-2008 performance unit cycle .", "stock options the personnel committee and in the case of the named executive officers ( other than mr .", "leonard , mr .", "denault and mr .", "smith ) , entergy's chief executive officer and the named executive officer's supervisor consider several factors in determining the amount of stock options it will grant under entergy's equity ownership plans to the named executive officers , including : individual performance ; prevailing market practice in stock option grants ; the targeted long-term value created by the use of stock options ; the number of participants eligible for stock options , and the resulting \"burn rate\" ( i.e. , the number of stock options authorized divided by the total number of shares outstanding ) to assess the potential dilutive effect ; and the committee's assessment of other elements of compensation provided to the named executive officer for stock option awards to the named executive officers ( other than mr .", "leonard ) , the committee's assessment of individual performance of each named executive officer done in consultation with entergy corporation's chief executive officer is the most important factor in determining the number of options awarded .", "the following table sets forth the number of stock options granted to each named executive officer in 2008 .", "the exercise price for each option was $ 108.20 , which was the closing fair market value of entergy corporation common stock on the date of grant. ." ]

[ "the option grants awarded to the named executive officers ( other than mr .", "leonard and mr .", "lewis ) ranged in amount between 5000 and 50000 shares .", "mr .", "lewis did not receive any stock option awards in 2008 .", "in the case of mr .", "leonard , who received 175000 stock options , the committee took special note of his performance as entergy corporation's chief executive officer .", "among other things , the committee noted that ." ]

[ [ "Named Exeutive Officer", "Stock Options" ], [ "J. Wayne Leonard", "175,000" ], [ "Leo P. Denault", "50,000" ], [ "Richard J. Smith", "35,000" ], [ "E. Renae Conley", "15,600" ], [ "Hugh T. McDonald", "7,000" ], [ "Haley Fisackerly", "5,000" ], [ "Joseph F. Domino", "7,000" ], [ "Roderick K. West", "8,000" ], [ "Theodore H. Bunting, Jr.", "18,000" ], [ "Carolyn Shanks", "7,000" ] ]

[ [ "named exeutive officer", "stock options" ], [ "j . wayne leonard", "175000" ], [ "leo p . denault", "50000" ], [ "richard j . smith", "35000" ], [ "e . renae conley", "15600" ], [ "hugh t . mcdonald", "7000" ], [ "haley fisackerly", "5000" ], [ "joseph f . domino", "7000" ], [ "roderick k . west", "8000" ], [ "theodore h . bunting jr .", "18000" ], [ "carolyn shanks", "7000" ] ]

[]

[ "devon energy corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) proved undeveloped reserves the following table presents the changes in our total proved undeveloped reserves during 2011 ( in mmboe ) . ." ]

[ "at december 31 , 2011 , devon had 782 mmboe of proved undeveloped reserves .", "this represents a 6% ( 6 % ) decrease as compared to 2010 and represents 26% ( 26 % ) of its total proved reserves .", "drilling activities increased devon 2019s proved undeveloped reserves 148 mmboe and resulted in the conversion of 130 mmboe , or 16% ( 16 % ) , of the 2010 proved undeveloped reserves to proved developed reserves .", "additionally , revisions other than price decreased devon 2019s proved undeveloped reserves 51 mmboe primarily due to its evaluation of certain u.s .", "onshore dry-gas areas , which it does not expect to develop in the next five years .", "the largest revisions relate to the dry-gas areas at carthage in east texas and the barnett shale in north texas .", "a significant amount of devon 2019s proved undeveloped reserves at the end of 2011 largely related to its jackfish operations .", "at december 31 , 2011 and 2010 , devon 2019s jackfish proved undeveloped reserves were 367 mmboe and 396 mmboe , respectively .", "development schedules for the jackfish reserves are primarily controlled by the need to keep the processing plants at their 35000 barrel daily facility capacity .", "processing plant capacity is controlled by factors such as total steam processing capacity , steam-oil ratios and air quality discharge permits .", "as a result , these reserves are classified as proved undeveloped for more than five years .", "currently , the development schedule for these reserves extends though the year 2025 .", "price revisions 2011 2014reserves decreased 21 mmboe due to lower gas prices and higher oil prices .", "the higher oil prices increased devon 2019s canadian royalty burden , which reduced devon 2019s oil reserves .", "2010 2014reserves increased 72 mmboe due to higher gas prices , partially offset by the effect of higher oil prices .", "the higher oil prices increased devon 2019s canadian royalty burden , which reduced devon 2019s oil reserves .", "of the 72 mmboe price revisions , 43 mmboe related to the barnett shale and 22 mmboe related to the rocky mountain area .", "2009 2014reserves increased 177 mmboe due to higher oil prices , partially offset by lower gas prices .", "the increase in oil reserves primarily related to devon 2019s jackfish thermal heavy oil reserves in canada .", "at the end of 2008 , 331 mmboe of reserves related to jackfish were not considered proved .", "however , due to higher prices , these reserves were considered proved as of december 31 , 2009 .", "significantly lower gas prices caused devon 2019s reserves to decrease 116 mmboe , which primarily related to its u.s .", "reserves .", "revisions other than price total revisions other than price for 2011 primarily related to devon 2019s evaluation of certain dry gas regions noted in the proved undeveloped reserves discussion above .", "total revisions other than price for 2010 and 2009 primarily related to devon 2019s drilling and development in the barnett shale. ." ]

[ [ "", "U.S. Onshore", "Canada", "North America" ], [ "Proved undeveloped reserves as of December 31, 2010", "411", "420", "831" ], [ "Extensions and discoveries", "118", "30", "148" ], [ "Revisions due to prices", "(2)", "(14)", "(16)" ], [ "Revisions other than price", "(56)", "5", "(51)" ], [ "Conversion to proved developed reserves", "(68)", "(62)", "(130)" ], [ "Proved undeveloped reserves as of December 31, 2011", "403", "379", "782" ] ]

[ [ "", "u.s . onshore", "canada", "north america" ], [ "proved undeveloped reserves as of december 31 2010", "411", "420", "831" ], [ "extensions and discoveries", "118", "30", "148" ], [ "revisions due to prices", "-2 ( 2 )", "-14 ( 14 )", "-16 ( 16 )" ], [ "revisions other than price", "-56 ( 56 )", "5", "-51 ( 51 )" ], [ "conversion to proved developed reserves", "-68 ( 68 )", "-62 ( 62 )", "-130 ( 130 )" ], [ "proved undeveloped reserves as of december 31 2011", "403", "379", "782" ] ]

[ { "arg1": "403", "arg2": "411", "op": "minus2-1", "res": "-8" }, { "arg1": "#0", "arg2": "411", "op": "divide2-2", "res": "-2%" } ]

[ "connection with this matter could have a material adverse impact on our consolidated cash flows and results of operations .", "item 4 .", "submission of matters to a vote of security holders on november 14 , 2008 , our stockholders voted to approve our merger with allied waste industries , inc .", "at a special meeting held for that purpose .", "results of the voting at that meeting are as follows: ." ]

[ "( 1 ) to issue shares of republic common stock and other securities convertible into or exercisable for shares of republic common stock , contemplated by the agreement and plan of merger , dated as of june 22 , 2008 , as amended july 31 , 2008 , among republic , rs merger wedge , inc , a wholly owned subsidiary of republic , formed for the purpose of the merger , and allied waste industries , inc .", ".", ".", "141728743 297976 156165 ( 2 ) to adjourn the special meeting , if necessary , to solicit additional proxies in favor of the foregoing proposal .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "134081897 8068370 32617 %%transmsg*** transmitting job : p14076 pcn : 035000000 ***%%pcmsg|33 |00022|yes|no|02/28/2009 17:08|0|0|page is valid , no graphics -- color : d| ." ]

[ [ "", "Affirmative", "Against", "Abstentions" ], [ "(1) To issue shares of Republic common stock and other securities convertible into or exercisable for shares of Republic common stock, contemplated by the Agreement and Plan of Merger, dated as of June 22, 2008, as amended July 31, 2008, among Republic, RS Merger Wedge, Inc,, a wholly owned subsidiary of Republic, formed for the purpose of the merger, and Allied Waste Industries, Inc.", "141,728,743", "297,976", "156,165" ], [ "(2) To adjourn the Special Meeting, if necessary, to solicit additional proxies in favor of the foregoing proposal", "134,081,897", "8,068,370", "32,617" ] ]

[ [ "", "affirmative", "against", "abstentions" ], [ "( 1 ) to issue shares of republic common stock and other securities convertible into or exercisable for shares of republic common stock contemplated by the agreement and plan of merger dated as of june 22 2008 as amended july 31 2008 among republic rs merger wedge inc a wholly owned subsidiary of republic formed for the purpose of the merger and allied waste industries inc .", "141728743", "297976", "156165" ], [ "( 2 ) to adjourn the special meeting if necessary to solicit additional proxies in favor of the foregoing proposal", "134081897", "8068370", "32617" ] ]

[ { "arg1": "141728743", "arg2": "297976", "op": "add1-1", "res": "142026719" }, { "arg1": "#0", "arg2": "156165", "op": "add1-2", "res": "142182884" } ]

[ "the goldman sachs group , inc .", "and subsidiaries item 9 .", "changes in and disagreements with accountants on accounting and financial disclosure there were no changes in or disagreements with accountants on accounting and financial disclosure during the last two years .", "item 9a .", "controls and procedures as of the end of the period covered by this report , an evaluation was carried out by goldman sachs 2019 management , with the participation of our chief executive officer and chief financial officer , of the effectiveness of our disclosure controls and procedures ( as defined in rule 13a-15 ( e ) under the exchange act ) .", "based upon that evaluation , our chief executive officer and chief financial officer concluded that these disclosure controls and procedures were effective as of the end of the period covered by this report .", "in addition , no change in our internal control over financial reporting ( as defined in rule 13a-15 ( f ) under the exchange act ) occurred during the fourth quarter of our year ended december 31 , 2018 that has materially affected , or is reasonably likely to materially affect , our internal control over financial reporting .", "management 2019s report on internal control over financial reporting and the report of independent registered public accounting firm are set forth in part ii , item 8 of this form 10-k .", "item 9b .", "other information not applicable .", "part iii item 10 .", "directors , executive officers and corporate governance information relating to our executive officers is included on page 20 of this form 10-k .", "information relating to our directors , including our audit committee and audit committee financial experts and the procedures by which shareholders can recommend director nominees , and our executive officers will be in our definitive proxy statement for our 2019 annual meeting of shareholders , which will be filed within 120 days of the end of 2018 ( 2019 proxy statement ) and is incorporated in this form 10-k by reference .", "information relating to our code of business conduct and ethics , which applies to our senior financial officers , is included in 201cbusiness 2014 available information 201d in part i , item 1 of this form 10-k .", "item 11 .", "executive compensation information relating to our executive officer and director compensation and the compensation committee of the board will be in the 2019 proxy statement and is incorporated in this form 10-k by reference .", "item 12 .", "security ownership of certain beneficial owners and management and related stockholder matters information relating to security ownership of certain beneficial owners of our common stock and information relating to the security ownership of our management will be in the 2019 proxy statement and is incorporated in this form 10-k by reference .", "the table below presents information as of december 31 , 2018 regarding securities to be issued pursuant to outstanding restricted stock units ( rsus ) and securities remaining available for issuance under our equity compensation plans that were in effect during 2018 .", "plan category securities to be issued exercise of outstanding options and rights ( a ) weighted average exercise price of outstanding options ( b ) securities available for future issuance under equity compensation plans ( c ) equity compensation plans approved by security holders 17176475 n/a 68211649 equity compensation plans not approved by security holders 2013 2013 2013 ." ]

[ "in the table above : 2030 securities to be issued upon exercise of outstanding options and rights includes 17176475 shares that may be issued pursuant to outstanding rsus .", "these awards are subject to vesting and other conditions to the extent set forth in the respective award agreements , and the underlying shares will be delivered net of any required tax withholding .", "as of december 31 , 2018 , there were no outstanding options .", "2030 shares underlying rsus are deliverable without the payment of any consideration , and therefore these awards have not been taken into account in calculating the weighted average exercise price .", "196 goldman sachs 2018 form 10-k ." ]

[ [ "Plan Category", "Securities to be Issued Upon Exercise of Outstanding Options and Rights (a)", "Weighted Average Exercise Price of Outstanding Options (b)", "Securities Available For Future Issuance Under Equity Compensation Plans (c)" ], [ "Equity compensation plans approved by security holders", "17,176,475", "N/A", "68,211,649" ], [ "Equity compensation plans not approved by securityholders", "–", "–", "–" ], [ "Total", "17,176,475", "", "68,211,649" ] ]

[ [ "plan category", "securities to be issued upon exercise of outstanding options and rights ( a )", "weighted average exercise price of outstanding options ( b )", "securities available for future issuance under equity compensation plans ( c )" ], [ "equity compensation plans approved by security holders", "17176475", "n/a", "68211649" ], [ "equity compensation plans not approved by securityholders", "2013", "2013", "2013" ], [ "total", "17176475", "", "68211649" ] ]

[ { "arg1": "17176475", "arg2": "68211649", "op": "add1-1", "res": "85388124" }, { "arg1": "17176475", "arg2": "#0", "op": "divide1-2", "res": "20.1%" } ]

[ "12 .", "brokerage receivables and brokerage payables the company has receivables and payables for financial instruments sold to and purchased from brokers , dealers and customers , which arise in the ordinary course of business .", "citi is exposed to risk of loss from the inability of brokers , dealers or customers to pay for purchases or to deliver the financial instruments sold , in which case citi would have to sell or purchase the financial instruments at prevailing market prices .", "credit risk is reduced to the extent that an exchange or clearing organization acts as a counterparty to the transaction and replaces the broker , dealer or customer in question .", "citi seeks to protect itself from the risks associated with customer activities by requiring customers to maintain margin collateral in compliance with regulatory and internal guidelines .", "margin levels are monitored daily , and customers deposit additional collateral as required .", "where customers cannot meet collateral requirements , citi may liquidate sufficient underlying financial instruments to bring the customer into compliance with the required margin level .", "exposure to credit risk is impacted by market volatility , which may impair the ability of clients to satisfy their obligations to citi .", "credit limits are established and closely monitored for customers and for brokers and dealers engaged in forwards , futures and other transactions deemed to be credit sensitive .", "brokerage receivables and brokerage payables consisted of the following: ." ]

[ "total brokerage payables ( 1 ) $ 64571 $ 61342 ( 1 ) includes brokerage receivables and payables recorded by citi broker-dealer entities that are accounted for in accordance with the aicpa accounting guide for brokers and dealers in securities as codified in asc 940-320. ." ]

[ [ "", "December 31," ], [ "In millions of dollars", "2018", "2017" ], [ "Receivables from customers", "$14,415", "$19,215" ], [ "Receivables from brokers, dealers and clearing organizations", "21,035", "19,169" ], [ "Total brokerage receivables⁽¹⁾", "$35,450", "$38,384" ], [ "Payables to customers", "$40,273", "$38,741" ], [ "Payables to brokers, dealers and clearing organizations", "24,298", "22,601" ], [ "Total brokerage payables⁽¹⁾", "$64,571", "$61,342" ] ]

[ [ "in millions of dollars", "december 31 , 2018", "december 31 , 2017" ], [ "receivables from customers", "$ 14415", "$ 19215" ], [ "receivables from brokers dealers and clearing organizations", "21035", "19169" ], [ "total brokerage receivables ( 1 )", "$ 35450", "$ 38384" ], [ "payables to customers", "$ 40273", "$ 38741" ], [ "payables to brokers dealers and clearing organizations", "24298", "22601" ], [ "total brokerage payables ( 1 )", "$ 64571", "$ 61342" ] ]

[]

[ "the long term .", "in addition , we have focused on building relationships with large multinational carriers such as airtel , telef f3nica s.a .", "and vodafone group plc .", "we believe that consistent carrier investments in their networks across our international markets position us to generate meaningful organic revenue growth going forward .", "in emerging markets , such as ghana , india , nigeria and uganda , wireless networks tend to be significantly less advanced than those in the united states , and initial voice networks continue to be deployed in underdeveloped areas .", "a majority of consumers in these markets still utilize basic wireless services , predominantly on feature phones , while advanced device penetration remains low .", "in more developed urban locations within these markets , early-stage data network deployments are underway .", "carriers are focused on completing voice network build-outs while also investing in initial data networks as wireless data usage and smartphone penetration within their customer bases begin to accelerate .", "in markets with rapidly evolving network technology , such as south africa and most of the countries in latin america where we do business , initial voice networks , for the most part , have already been built out , and carriers are focused on 3g network build outs , with select investments in 4g technology .", "consumers in these regions are increasingly adopting smartphones and other advanced devices , and as a result , the usage of bandwidth-intensive mobile applications is growing materially .", "recent spectrum auctions in these rapidly evolving markets have allowed incumbent carriers to accelerate their data network deployments and have also enabled new entrants to begin initial investments in data networks .", "smartphone penetration and wireless data usage in these markets are growing rapidly , which typically requires that carriers continue to invest in their networks in order to maintain and augment their quality of service .", "finally , in markets with more mature network technology , such as germany , carriers are focused on deploying 4g data networks to account for rapidly increasing wireless data usage amongst their customer base .", "with higher smartphone and advanced device penetration and significantly higher per capita data usage , carrier investment in networks is focused on 4g coverage and capacity .", "we believe that the network technology migration we have seen in the united states , which has led to significantly denser networks and meaningful new business commencements for us over a number of years , will ultimately be replicated in our less advanced international markets .", "as a result , we expect to be able to leverage our extensive international portfolio of approximately 60190 communications sites and the relationships we have built with our carrier customers to drive sustainable , long-term growth .", "we have holistic master lease agreements with certain of our tenants that provide for consistent , long-term revenue and a reduction in the likelihood of churn .", "our holistic master lease agreements build and augment strong strategic partnerships with our tenants and have significantly reduced collocation cycle times , thereby providing our tenants with the ability to rapidly and efficiently deploy equipment on our sites .", "property operations new site revenue growth .", "during the year ended december 31 , 2015 , we grew our portfolio of communications real estate through the acquisition and construction of approximately 25370 sites .", "in a majority of our asia , emea and latin america markets , the acquisition or construction of new sites resulted in increases in both tenant and pass- through revenues ( such as ground rent or power and fuel costs ) and expenses .", "we continue to evaluate opportunities to acquire communications real estate portfolios , both domestically and internationally , to determine whether they meet our risk-adjusted hurdle rates and whether we believe we can effectively integrate them into our existing portfolio. ." ]

[ "property operations expenses .", "direct operating expenses incurred by our property segments include direct site level expenses and consist primarily of ground rent and power and fuel costs , some or all of which may be passed through to our tenants , as well as property taxes , repairs and maintenance .", "these segment direct operating expenses exclude all segment and corporate selling , general , administrative and development expenses , which are aggregated into one line item entitled selling , general , administrative and development expense in our consolidated statements of operations .", "in general , our property segments 2019 selling , general , administrative and development expenses do not significantly increase as a result of adding incremental tenants to our legacy sites and typically increase only modestly year-over-year .", "as a result , leasing additional space to new tenants on our legacy sites provides significant incremental cash flow .", "we may , however , incur additional segment ." ]

[ [ "New Sites (Acquired or Constructed)", "2015", "2014", "2013" ], [ "U.S.", "11,595", "900", "5,260" ], [ "Asia", "2,330", "1,560", "1,260" ], [ "EMEA", "4,910", "190", "485" ], [ "Latin America", "6,535", "5,800", "6,065" ] ]

[ [ "new sites ( acquired or constructed )", "2015", "2014", "2013" ], [ "u.s .", "11595", "900", "5260" ], [ "asia", "2330", "1560", "1260" ], [ "emea", "4910", "190", "485" ], [ "latin america", "6535", "5800", "6065" ] ]

[ { "arg1": "2330", "arg2": "1560", "op": "minus1-1", "res": "770" }, { "arg1": "#0", "arg2": "1560", "op": "divide1-2", "res": "49.35%" } ]

[ "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 on september 30 , 2006 .", "data points on the graph are annual .", "note that historic stock price performance is not necessarily indicative of future stock price performance .", "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 sep-10sep-09sep-08sep-07sep-06 sep-11 apple inc .", "s&p 500 s&p computer hardware dow jones us technology *$ 100 invested on 9/30/06 in stock or index , including reinvestment of dividends .", "fiscal year ending september 30 .", "copyright a9 2011 s&p , a division of the mcgraw-hill companies inc .", "all rights reserved .", "copyright a9 2011 dow jones & co .", "all rights reserved .", "september 30 , september 30 , september 30 , september 30 , september 30 , september 30 ." ]

[ "." ]

[ [ "", "September 30, 2006", "September 30, 2007", "September 30, 2008", "September 30, 2009", "September 30, 2010", "September 30, 2011" ], [ "Apple Inc.", "$100", "$199", "$148", "$241", "$369", "$495" ], [ "S&P 500", "$100", "$116", "$91", "$85", "$93", "$94" ], [ "S&P Computer Hardware", "$100", "$148", "$124", "$147", "$174", "$197" ], [ "Dow Jones US Technology", "$100", "$123", "$94", "$104", "$117", "$120" ] ]

[ [ "", "september 30 2006", "september 30 2007", "september 30 2008", "september 30 2009", "september 30 2010", "september 30 2011" ], [ "apple inc .", "$ 100", "$ 199", "$ 148", "$ 241", "$ 369", "$ 495" ], [ "s&p 500", "$ 100", "$ 116", "$ 91", "$ 85", "$ 93", "$ 94" ], [ "s&p computer hardware", "$ 100", "$ 148", "$ 124", "$ 147", "$ 174", "$ 197" ], [ "dow jones us technology", "$ 100", "$ 123", "$ 94", "$ 104", "$ 117", "$ 120" ] ]

[]

[ "notes to consolidated financial statements 2014 ( continued ) company 2019s financial statements and establishes guidelines for recognition and measurement of a tax position taken or expected to be taken in a tax return .", "as a result of this adoption , we recorded a $ 1.5 million increase in the liability for unrecognized income tax benefits , which was accounted for as a $ 1.0 million reduction to the june 1 , 2007 balance of retained earnings and a $ 0.5 million reduction to the june 1 , 2007 balance of additional paid-in capital .", "as of the adoption date , other long-term liabilities included liabilities for unrecognized income tax benefits of $ 3.8 million and accrued interest and penalties of $ 0.7 million .", "a reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows ( in thousands ) : ." ]

[ "as of may 31 , 2008 , the total amount of gross unrecognized tax benefits that , if recognized , would affect the effective tax rate is $ 3.7 million .", "we recognize accrued interest related to unrecognized income tax benefits in interest expense and accrued penalty expense related to unrecognized tax benefits in sales , general and administrative expenses .", "during fiscal 2008 , we recorded $ 0.3 million of accrued interest and penalty expense related to the unrecognized income tax benefits .", "we anticipate the total amount of unrecognized income tax benefits will decrease by $ 1.1 million net of interest and penalties from our foreign operations within the next 12 months as a result of the expiration of the statute of limitations .", "we conduct business globally and file income tax returns in the united states federal jurisdiction and various state and foreign jurisdictions .", "in the normal course of business , we are subject to examination by taxing authorities throughout the world , including such major jurisdictions as the united states and canada .", "with few exceptions , we are no longer subject to income tax examinations for years ended may 31 , 2003 and prior .", "we are currently under audit by the internal revenue service of the united states for the 2004 to 2005 tax years .", "we expect that the examination phase of the audit for the years 2004 to 2005 will conclude in fiscal 2009 .", "note 8 2014shareholders 2019 equity on april 5 , 2007 , our board of directors approved a share repurchase program that authorized the purchase of up to $ 100 million of global payments 2019 stock in the open market or as otherwise may be determined by us , subject to market conditions , business opportunities , and other factors .", "under this authorization , we repurchased 2.3 million shares of our common stock during fiscal 2008 at a cost of $ 87.0 million , or an average of $ 37.85 per share , including commissions .", "as of may 31 , 2008 , we had $ 13.0 million remaining under our current share repurchase authorization .", "no amounts were repurchased during fiscal 2007 .", "note 9 2014share-based awards and options as of may 31 , 2008 , we had four share-based employee compensation plans .", "for all share-based awards granted after june 1 , 2006 , compensation expense is recognized on a straight-line basis .", "the fair value of share- based awards granted prior to june 1 , 2006 is amortized as compensation expense on an accelerated basis from the date of the grant .", "there was no share-based compensation capitalized during fiscal 2008 , 2007 , and 2006. ." ]

[ [ "Balance at June 1, 2007", "$3,760" ], [ "Additions based on tax positions related to the current year", "93" ], [ "Additions for tax positions of prior years", "50" ], [ "Reductions for tax positions of prior years", "—" ], [ "Settlements with taxing authorities", "(190)" ], [ "Balance at May 31, 2008", "$3,713" ] ]

[ [ "balance at june 1 2007", "$ 3760" ], [ "additions based on tax positions related to the current year", "93" ], [ "additions for tax positions of prior years", "50" ], [ "reductions for tax positions of prior years", "2014" ], [ "settlements with taxing authorities", "-190 ( 190 )" ], [ "balance at may 31 2008", "$ 3713" ] ]

[]

[ "bhge 2017 form 10-k | 27 the short term .", "we do , however , view the long term economics of the lng industry as positive given our outlook for supply and demand .", "2022 refinery , petrochemical and industrial projects : in refining , we believe large , complex refineries should gain advantage in a more competitive , oversupplied landscape in 2018 as the industry globalizes and refiners position to meet local demand and secure export potential .", "in petrochemicals , we continue to see healthy demand and cost-advantaged supply driving projects forward in 2018 .", "the industrial market continues to grow as outdated infrastructure is replaced , policy changes come into effect and power is decentralized .", "we continue to see growing demand across these markets in 2018 .", "we have other segments in our portfolio that are more correlated with different industrial metrics such as our digital solutions business .", "overall , we believe our portfolio is uniquely positioned to compete across the value chain , and deliver unique solutions for our customers .", "we remain optimistic about the long-term economics of the industry , but are continuing to operate with flexibility given our expectations for volatility and changing assumptions in the near term .", "in 2016 , solar and wind net additions exceeded coal and gas for the first time and it continued throughout 2017 .", "governments may change or may not continue incentives for renewable energy additions .", "in the long term , renewables' cost decline may accelerate to compete with new-built fossil capacity , however , we do not anticipate any significant impacts to our business in the foreseeable future .", "despite the near-term volatility , the long-term outlook for our industry remains strong .", "we believe the world 2019s demand for energy will continue to rise , and the supply of energy will continue to increase in complexity , requiring greater service intensity and more advanced technology from oilfield service companies .", "as such , we remain focused on delivering innovative cost-efficient solutions that deliver step changes in operating and economic performance for our customers .", "business environment the following discussion and analysis summarizes the significant factors affecting our results of operations , financial condition and liquidity position as of and for the year ended december 31 , 2017 , 2016 and 2015 , and should be read in conjunction with the consolidated and combined financial statements and related notes of the company .", "amounts reported in millions in graphs within this report are computed based on the amounts in hundreds .", "as a result , the sum of the components reported in millions may not equal the total amount reported in millions due to rounding .", "we operate in more than 120 countries helping customers find , evaluate , drill , produce , transport and process hydrocarbon resources .", "our revenue is predominately generated from the sale of products and services to major , national , and independent oil and natural gas companies worldwide , and is dependent on spending by our customers for oil and natural gas exploration , field development and production .", "this spending is driven by a number of factors , including our customers' forecasts of future energy demand and supply , their access to resources to develop and produce oil and natural gas , their ability to fund their capital programs , the impact of new government regulations and most importantly , their expectations for oil and natural gas prices as a key driver of their cash flows .", "oil and natural gas prices oil and natural gas prices are summarized in the table below as averages of the daily closing prices during each of the periods indicated. ." ]

[ "brent oil prices ( $ /bbl ) ( 1 ) $ 54.12 $ 43.64 $ 52.32 wti oil prices ( $ /bbl ) ( 2 ) 50.80 43.29 48.66 natural gas prices ( $ /mmbtu ) ( 3 ) 2.99 2.52 2.62 ( 1 ) energy information administration ( eia ) europe brent spot price per barrel ." ]

[ [ "", "2017", "2016", "2015" ], [ "Brent oil prices ($/Bbl)⁽¹⁾", "$54.12", "$43.64", "$52.32" ], [ "WTI oil prices ($/Bbl)⁽²⁾", "50.80", "43.29", "48.66" ], [ "Natural gas prices ($/mmBtu)⁽³⁾", "2.99", "2.52", "2.62" ] ]

[ [ "", "2017", "2016", "2015" ], [ "brent oil prices ( $ /bbl ) ( 1 )", "$ 54.12", "$ 43.64", "$ 52.32" ], [ "wti oil prices ( $ /bbl ) ( 2 )", "50.80", "43.29", "48.66" ], [ "natural gas prices ( $ /mmbtu ) ( 3 )", "2.99", "2.52", "2.62" ] ]

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[ "the following table details the effect on net income and earnings per share had compensation expense for all of our stock-based awards , including stock options , been recorded in the year ended december 31 , 2005 based on the fair value method under fasb statement no .", "123 , accounting for stock-based compensation .", "pro forma stock-based compensation expense millions of dollars , except per share amounts 2005 ." ]

[ "[a] stock options for executives granted in 2003 and 2002 included a reload feature .", "this reload feature allowed executives to exercise their options using shares of union pacific corporation common stock that they already owned and obtain a new grant of options in the amount of the shares used for exercise plus any shares withheld for tax purposes .", "the reload feature of these option grants could only be exercised if the price of our common stock increased at least 20% ( 20 % ) from the price at the time of the reload grant .", "during the year ended december 31 , 2005 , reload option grants represented $ 19 million of the pro forma expense noted above .", "there were no reload option grants during 2007 and 2006 as stock options exercised after january 1 , 2006 are not eligible for the reload feature .", "earnings per share 2013 basic earnings per share are calculated on the weighted-average number of common shares outstanding during each period .", "diluted earnings per share include shares issuable upon exercise of outstanding stock options and stock-based awards where the conversion of such instruments would be dilutive .", "use of estimates 2013 our consolidated financial statements include estimates and assumptions regarding certain assets , liabilities , revenue , and expenses and the disclosure of certain contingent assets and liabilities .", "actual future results may differ from such estimates .", "income taxes 2013 as required under fasb statement no .", "109 , accounting for income taxes , we account for income taxes by recording taxes payable or refundable for the current year and deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in our financial statements or tax returns .", "these expected future tax consequences are measured based on provisions of tax law as currently enacted ; the effects of future changes in tax laws are not anticipated .", "future tax law changes , such as a change in the corporate tax rate , could have a material impact on our financial condition or results of operations .", "when appropriate , we record a valuation allowance against deferred tax assets to offset future tax benefits that may not be realized .", "in determining whether a valuation allowance is appropriate , we consider whether it is more likely than not that all or some portion of our deferred tax assets will not be realized , based on management 2019s judgments regarding the best available evidence about future events .", "when we have claimed tax benefits that may be challenged by a tax authority , these uncertain tax positions are accounted for under fasb interpretation no .", "48 , accounting for uncertainty in income taxes , an interpretation of fasb statement no .", "109 ( fin 48 ) .", "we adopted fin 48 beginning january 1 , 2007 .", "prior to 2007 , income tax contingencies were accounted for under fasb statement no .", "5 , accounting for contingencies .", "under fin 48 , we recognize tax benefits only for tax positions that are more likely than not to be sustained upon examination by tax authorities .", "the amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely to be realized upon settlement .", "a liability for 201cunrecognized tax benefits 201d is ." ]

[ [ "<i>Pro Forma Stock-Based Compensation Expense</i><i>Millions of Dollars, Except Per Share Amounts</i>", "2005" ], [ "Net income, as reported", "$ 1,026" ], [ "Stock-based employee compensation expense, reported in net income, net of tax", "13" ], [ "Total stock-based employee compensation expense determined under fair value–based method for allawards, net of tax [a]", "(50)" ], [ "Pro forma net income", "$ 989" ], [ "Earnings per share – basic, as reported", "$ 3.89" ], [ "Earnings per share – basic, pro forma", "$ 3.75" ], [ "Earnings per share – diluted, as reported", "$ 3.85" ], [ "Earnings per share – diluted, pro forma", "$ 3.71" ] ]

[ [ "pro forma stock-based compensation expensemillions of dollars except per share amounts", "2005" ], [ "net income as reported", "$ 1026" ], [ "stock-based employee compensation expense reported in net income net of tax", "13" ], [ "total stock-based employee compensation expense determined under fair value 2013based method for allawards net of tax [a]", "-50 ( 50 )" ], [ "pro forma net income", "$ 989" ], [ "earnings per share 2013 basic as reported", "$ 3.89" ], [ "earnings per share 2013 basic pro forma", "$ 3.75" ], [ "earnings per share 2013 diluted as reported", "$ 3.85" ], [ "earnings per share 2013 diluted pro forma", "$ 3.71" ] ]

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[ "table of contents 4 .", "acquisitions , dispositions and plant closures acquisitions 2022 so.f.ter .", "s.p.a .", "on december 1 , 2016 , the company acquired 100% ( 100 % ) of the stock of the forli , italy based so.f.ter .", "s.p.a .", "( \"softer\" ) , a leading thermoplastic compounder .", "the acquisition of softer increases the company's global engineered materials product platforms , extends the operational model , technical and industry solutions capabilities and expands project pipelines .", "the acquisition was accounted for as a business combination and the acquired operations are included in the advanced engineered materials segment .", "pro forma financial information since the respective acquisition date has not been provided as the acquisition did not have a material impact on the company's financial information .", "the company allocated the purchase price of the acquisition to identifiable assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date .", "the excess of the purchase price over the aggregate fair values was recorded as goodwill ( note 2 and note 11 ) .", "the company calculated the fair value of the assets acquired using the income , market , or cost approach ( or a combination thereof ) .", "fair values were determined based on level 3 inputs ( note 2 ) including estimated future cash flows , discount rates , royalty rates , growth rates , sales projections , retention rates and terminal values , all of which require significant management judgment and are susceptible to change .", "the purchase price allocation is based upon preliminary information and is subject to change if additional information about the facts and circumstances that existed at the acquisition date becomes available .", "the final fair value of the net assets acquired may result in adjustments to the assets and liabilities , including goodwill .", "however , any subsequent measurement period adjustments are not expected to have a material impact on the company's results of operations .", "the preliminary purchase price allocation for the softer acquisition is as follows : december 1 , 2016 ( in $ millions ) ." ]

[ "______________________________ ( 1 ) goodwill consists of expected revenue and operating synergies resulting from the acquisition .", "none of the goodwill is deductible for income tax purposes .", "( 2 ) includes a $ 23 million indemnity receivable for uncertain tax positions related to the acquisition .", "transaction related costs of $ 3 million were expensed as incurred to selling , general and administrative expenses in the consolidated statements of operations .", "the amount of pro forma net earnings ( loss ) of softer included in the company's consolidated statement of operations was approximately 2% ( 2 % ) ( unaudited ) of its consolidated net earnings ( loss ) had the acquisition occurred as of the beginning of 2016 .", "the amount of softer net earnings ( loss ) consolidated by the company since the acquisition date was not material. ." ]

[ [ "", "As ofDecember 1, 2016 (In $ millions)" ], [ "Cash and cash equivalents", "11" ], [ "Trade receivables - third party and affiliates", "53" ], [ "Inventories", "58" ], [ "Property, plant and equipment, net", "68" ], [ "Intangible assets (Note 11)", "79" ], [ "Goodwill (Note 11)⁽¹⁾", "106" ], [ "Other assets⁽²⁾", "33" ], [ "Total fair value of assets acquired", "408" ], [ "Trade payables - third party and affiliates", "(41)" ], [ "Total debt (Note 14)", "(103)" ], [ "Deferred income taxes", "(30)" ], [ "Other liabilities", "(45)" ], [ "Total fair value of liabilities assumed", "(219)" ], [ "Net assets acquired", "189" ] ]

[ [ "", "as ofdecember 1 2016 ( in $ millions )" ], [ "cash and cash equivalents", "11" ], [ "trade receivables - third party and affiliates", "53" ], [ "inventories", "58" ], [ "property plant and equipment net", "68" ], [ "intangible assets ( note 11 )", "79" ], [ "goodwill ( note 11 ) ( 1 )", "106" ], [ "other assets ( 2 )", "33" ], [ "total fair value of assets acquired", "408" ], [ "trade payables - third party and affiliates", "-41 ( 41 )" ], [ "total debt ( note 14 )", "-103 ( 103 )" ], [ "deferred income taxes", "-30 ( 30 )" ], [ "other liabilities", "-45 ( 45 )" ], [ "total fair value of liabilities assumed", "-219 ( 219 )" ], [ "net assets acquired", "189" ] ]

[]

[ "2012 ppg annual report and form 10-k 45 costs related to these notes , which totaled $ 17 million , will be amortized to interest expense over the respective terms of the notes .", "in august 2010 , ppg entered into a three-year credit agreement with several banks and financial institutions ( the \"2010 credit agreement\" ) which was subsequently terminated in july 2012 .", "the 2010 credit agreement provided for a $ 1.2 billion unsecured revolving credit facility .", "in connection with entering into the 2010 credit agreement , the company terminated its 20ac650 million and its $ 1 billion revolving credit facilities that were each set to expire in 2011 .", "there were no outstanding amounts due under either revolving facility at the times of their termination .", "the 2010 credit agreement was set to terminate on august 5 , 2013 .", "ppg 2019s non-u.s .", "operations have uncommitted lines of credit totaling $ 705 million of which $ 34 million was used as of december 31 , 2012 .", "these uncommitted lines of credit are subject to cancellation at any time and are generally not subject to any commitment fees .", "short-term debt outstanding as of december 31 , 2012 and 2011 , was as follows: ." ]

[ "ppg is in compliance with the restrictive covenants under its various credit agreements , loan agreements and indentures .", "the company 2019s revolving credit agreements include a financial ratio covenant .", "the covenant requires that the amount of total indebtedness not exceed 60% ( 60 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments .", "as of december 31 , 2012 , total indebtedness was 42% ( 42 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments .", "additionally , substantially all of the company 2019s debt agreements contain customary cross- default provisions .", "those provisions generally provide that a default on a debt service payment of $ 10 million or more for longer than the grace period provided ( usually 10 days ) under one agreement may result in an event of default under other agreements .", "none of the company 2019s primary debt obligations are secured or guaranteed by the company 2019s affiliates .", "interest payments in 2012 , 2011 and 2010 totaled $ 219 million , $ 212 million and $ 189 million , respectively .", "in october 2009 , the company entered into an agreement with a counterparty to repurchase up to 1.2 million shares of the company 2019s stock of which 1.1 million shares were purchased in the open market ( 465006 of these shares were purchased as of december 31 , 2009 at a weighted average price of $ 56.66 per share ) .", "the counterparty held the shares until september of 2010 when the company paid $ 65 million and took possession of these shares .", "rental expense for operating leases was $ 233 million , $ 249 million and $ 233 million in 2012 , 2011 and 2010 , respectively .", "the primary leased assets include paint stores , transportation equipment , warehouses and other distribution facilities , and office space , including the company 2019s corporate headquarters located in pittsburgh , pa .", "minimum lease commitments for operating leases that have initial or remaining lease terms in excess of one year as of december 31 , 2012 , are ( in millions ) $ 171 in 2013 , $ 135 in 2014 , $ 107 in 2015 , $ 83 in 2016 , $ 64 in 2017 and $ 135 thereafter .", "the company had outstanding letters of credit and surety bonds of $ 119 million as of december 31 , 2012 .", "the letters of credit secure the company 2019s performance to third parties under certain self-insurance programs and other commitments made in the ordinary course of business .", "as of december 31 , 2012 and 2011 , guarantees outstanding were $ 96 million and $ 90 million , respectively .", "the guarantees relate primarily to debt of certain entities in which ppg has an ownership interest and selected customers of certain of the company 2019s businesses .", "a portion of such debt is secured by the assets of the related entities .", "the carrying values of these guarantees were $ 11 million and $ 13 million as of december 31 , 2012 and 2011 , respectively , and the fair values were $ 11 million and $ 21 million , as of december 31 , 2012 and 2011 , respectively .", "the fair value of each guarantee was estimated by comparing the net present value of two hypothetical cash flow streams , one based on ppg 2019s incremental borrowing rate and the other based on the borrower 2019s incremental borrowing rate , as of the effective date of the guarantee .", "both streams were discounted at a risk free rate of return .", "the company does not believe any loss related to these letters of credit , surety bonds or guarantees is likely .", "9 .", "fair value measurement the accounting guidance on fair value measurements establishes a hierarchy with three levels of inputs used to determine fair value .", "level 1 inputs are quoted prices ( unadjusted ) in active markets for identical assets and liabilities , are considered to be the most reliable evidence of fair value , and should be used whenever available .", "level 2 inputs are observable prices that are not quoted on active exchanges .", "level 3 inputs are unobservable inputs employed for measuring the fair value of assets or liabilities .", "table of contents notes to the consolidated financial statements ." ]

[ [ "(Millions)", "2012", "2011" ], [ "Other, weighted average 2.27% as of Dec. 31, 2012 and 3.72% as of December 31, 2011", "$39", "$33" ], [ "Total", "$39", "$33" ] ]

[ [ "( millions )", "2012", "2011" ], [ "other weighted average 2.27% ( 2.27 % ) as of dec . 31 2012 and 3.72% ( 3.72 % ) as of december 31 2011", "$ 39", "$ 33" ], [ "total", "$ 39", "$ 33" ] ]

[ { "arg1": "249", "arg2": "233", "op": "minus2-1", "res": "16" }, { "arg1": "#0", "arg2": "233", "op": "divide2-2", "res": "7%" } ]

[ "stock performance graph the following line-graph presentation compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 stock index for the past five years .", "the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s information technology index , and the standard & poor 2019s 500 stock index on may 31 , 2003 and assumes reinvestment of all dividends .", "comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index 5/03 5/04 5/05 5/06 5/07 5/08 global payments inc .", "s&p 500 s&p information technology * $ 100 invested on 5/31/03 in stock or index-including reinvestment of dividends .", "fiscal year ending may 31 .", "global payments s&p 500 information technology ." ]

[ "issuer purchases of equity securities in fiscal 2007 , our board of directors approved a share repurchase program that authorized the purchase of up to $ 100 million of global payments 2019 stock in the open market or as otherwise may be determined by us , subject to market conditions , business opportunities , and other factors .", "under this authorization , we have repurchased 2.3 million shares of our common stock .", "this authorization has no expiration date and may be suspended or terminated at any time .", "repurchased shares will be retired but will be available for future issuance. ." ]

[ [ "", "Global Payments", "S&P 500", "S&P Information Technology" ], [ "May 31, 2003", "$100.00", "$100.00", "$100.00" ], [ "May 31, 2004", "137.75", "118.33", "121.98" ], [ "May 31, 2005", "205.20", "128.07", "123.08" ], [ "May 31, 2006", "276.37", "139.14", "123.99" ], [ "May 31, 2007", "238.04", "170.85", "152.54" ], [ "May 31, 2008", "281.27", "159.41", "156.43" ] ]

[ [ "", "global payments", "s&p 500", "s&p information technology" ], [ "may 31 2003", "$ 100.00", "$ 100.00", "$ 100.00" ], [ "may 31 2004", "137.75", "118.33", "121.98" ], [ "may 31 2005", "205.20", "128.07", "123.08" ], [ "may 31 2006", "276.37", "139.14", "123.99" ], [ "may 31 2007", "238.04", "170.85", "152.54" ], [ "may 31 2008", "281.27", "159.41", "156.43" ] ]

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[ "entergy arkansas , inc .", "management's financial discussion and analysis results of operations net income 2008 compared to 2007 net income decreased $ 92.0 million primarily due to higher other operation and maintenance expenses , higher depreciation and amortization expenses , and a higher effective income tax rate , partially offset by higher net revenue .", "the higher other operation and maintenance expenses resulted primarily from the write-off of approximately $ 70.8 million of costs as a result of the december 2008 arkansas court of appeals decision in entergy arkansas' base rate case .", "the base rate case is discussed in more detail in note 2 to the financial statements .", "2007 compared to 2006 net income decreased $ 34.0 million primarily due to higher other operation and maintenance expenses , higher depreciation and amortization expenses , and a higher effective income tax rate .", "the decrease was partially offset by higher net revenue .", "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 credits .", "following is an analysis of the change in net revenue comparing 2008 to 2007 .", "amount ( in millions ) ." ]

[ "the rider revenue variance is primarily due to an energy efficiency rider which became effective in november 2007 .", "the establishment of the rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense with no effect on net income .", "also contributing to the variance was an increase in franchise tax rider revenue as a result of higher retail revenues .", "the corresponding increase is in taxes other than income taxes , resulting in no effect on net income .", "the purchased power capacity variance is primarily due to lower reserve equalization expenses .", "the volume/weather variance is primarily due to the effect of less favorable weather on residential and commercial sales during the billed and unbilled sales periods compared to 2007 and a 2.9% ( 2.9 % ) volume decrease in industrial sales , primarily in the wood industry and the small customer class .", "billed electricity usage decreased 333 gwh in all sectors .", "see \"critical accounting estimates\" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues. ." ]

[ [ "", "Amount (In Millions)" ], [ "2007 net revenue", "$1,110.6" ], [ "Rider revenue", "13.6" ], [ "Purchased power capacity", "4.8" ], [ "Volume/weather", "(14.6)" ], [ "Other", "3.5" ], [ "2008 net revenue", "$1,117.9" ] ]

[ [ "", "amount ( in millions )" ], [ "2007 net revenue", "$ 1110.6" ], [ "rider revenue", "13.6" ], [ "purchased power capacity", "4.8" ], [ "volume/weather", "-14.6 ( 14.6 )" ], [ "other", "3.5" ], [ "2008 net revenue", "$ 1117.9" ] ]

[]

[ "hologic , inc .", "notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) fiscal 2007 acquisition : acquisition of biolucent , inc .", "on september 18 , 2007 the company completed the acquisition of biolucent , inc .", "( 201cbiolucent 201d ) pursuant to a definitive agreement dated june 20 , 2007 .", "the results of operations for biolucent have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography/breast care business segment .", "the company has concluded that the acquisition of biolucent does not represent a material business combination and therefore no pro forma financial information has been provided herein .", "biolucent , previously located in aliso viejo , california , develops , markets and sells mammopad breast cushions to decrease the discomfort associated with mammography .", "prior to the acquisition , biolucent 2019s primary research and development efforts were directed at its brachytherapy business which was focused on breast cancer therapy .", "prior to the acquisition , biolucent spun-off its brachytherapy technology and business to the holders of biolucent 2019s outstanding shares of capital stock .", "as a result , the company only acquired biolucent 2019s mammopad cushion business and related assets .", "the company invested $ 1000 directly in the spun-off brachytherapy business in exchange for shares of preferred stock issued by the new business .", "the aggregate purchase price for biolucent was approximately $ 73200 , consisting of approximately $ 6800 in cash and 2314 shares of hologic common stock valued at approximately $ 63200 , debt assumed and paid off of approximately $ 1600 and approximately $ 1600 for acquisition related fees and expenses .", "the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no .", "99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .", "the acquisition also provides for up to two annual earn-out payments not to exceed $ 15000 in the aggregate based on biolucent 2019s achievement of certain revenue targets .", "the company has considered the provision of eitf issue no .", "95-8 , accounting for contingent consideration paid to the shareholders of an acquired enterprise in a purchase business combination , and concluded that this contingent consideration will represent additional purchase price .", "as a result , goodwill will be increased by the amount of the additional consideration , if any , when it becomes due and payable .", "as of september 27 , 2008 , the company has not recorded any amounts for these potential earn-outs .", "the allocation of the purchase price is based upon estimates of the fair value of assets acquired and liabilities assumed as of september 18 , 2007 .", "the components and allocation of the purchase price consists of the following approximate amounts: ." ]

[ "as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .", "it was determined that only customer relationship , trade name and developed technology and know-how had separately identifiable values .", "the fair value of these intangible assets was determined through the application of the income approach .", "customer relationship represents a large customer base that is expected to purchase the disposable mammopad product on a regular basis .", "trade name represents the ." ]

[ [ "Net tangible assets acquired as of September 18, 2007", "$2,800" ], [ "Developed technology and know how", "12,300" ], [ "Customer relationship", "17,000" ], [ "Trade name", "2,800" ], [ "Deferred income tax liabilities, net", "(9,500)" ], [ "Goodwill", "47,800" ], [ "Final purchase price", "$73,200" ] ]

[ [ "net tangible assets acquired as of september 18 2007", "$ 2800" ], [ "developed technology and know how", "12300" ], [ "customer relationship", "17000" ], [ "trade name", "2800" ], [ "deferred income tax liabilities net", "-9500 ( 9500 )" ], [ "goodwill", "47800" ], [ "final purchase price", "$ 73200" ] ]

[]

[ "visa inc .", "notes to consolidated financial statements 2014 ( continued ) september 30 , 2013 market condition is based on the company 2019s total shareholder return ranked against that of other companies that are included in the standard & poor 2019s 500 index .", "the fair value of the performance- based shares , incorporating the market condition , is estimated on the grant date using a monte carlo simulation model .", "the grant-date fair value of performance-based shares in fiscal 2013 , 2012 and 2011 was $ 164.14 , $ 97.84 and $ 85.05 per share , respectively .", "earned performance shares granted in fiscal 2013 and 2012 vest approximately three years from the initial grant date .", "earned performance shares granted in fiscal 2011 vest in two equal installments approximately two and three years from their respective grant dates .", "all performance awards are subject to earlier vesting in full under certain conditions .", "compensation cost for performance-based shares is initially estimated based on target performance .", "it is recorded net of estimated forfeitures and adjusted as appropriate throughout the performance period .", "at september 30 , 2013 , there was $ 15 million of total unrecognized compensation cost related to unvested performance-based shares , which is expected to be recognized over a weighted-average period of approximately 1.0 years .", "note 17 2014commitments and contingencies commitments .", "the company leases certain premises and equipment throughout the world with varying expiration dates .", "the company incurred total rent expense of $ 94 million , $ 89 million and $ 76 million in fiscal 2013 , 2012 and 2011 , respectively .", "future minimum payments on leases , and marketing and sponsorship agreements per fiscal year , at september 30 , 2013 , are as follows: ." ]

[ "select sponsorship agreements require the company to spend certain minimum amounts for advertising and marketing promotion over the life of the contract .", "for commitments where the individual years of spend are not specified in the contract , the company has estimated the timing of when these amounts will be spent .", "in addition to the fixed payments stated above , select sponsorship agreements require the company to undertake marketing , promotional or other activities up to stated monetary values to support events which the company is sponsoring .", "the stated monetary value of these activities typically represents the value in the marketplace , which may be significantly in excess of the actual costs incurred by the company .", "client incentives .", "the company has agreements with financial institution clients and other business partners for various programs designed to build payments volume , increase visa-branded card and product acceptance and win merchant routing transactions .", "these agreements , with original terms ranging from one to thirteen years , can provide card issuance and/or conversion support , volume/growth targets and marketing and program support based on specific performance requirements .", "these agreements are designed to encourage client business and to increase overall visa-branded payment and transaction volume , thereby reducing per-unit transaction processing costs and increasing brand awareness for all visa clients .", "payments made that qualify for capitalization , and obligations incurred under these programs are reflected on the consolidated balance sheet .", "client incentives are recognized primarily as a reduction ." ]

[ [ "(in millions)", "2014", "2015", "2016", "2017", "2018", "Thereafter", "Total" ], [ "Operating leases", "$100", "$77", "$43", "$35", "$20", "$82", "$357" ], [ "Marketing and sponsorships", "116", "117", "61", "54", "54", "178", "580" ], [ "Total", "$216", "$194", "$104", "$89", "$74", "$260", "$937" ] ]

[ [ "( in millions )", "2014", "2015", "2016", "2017", "2018", "thereafter", "total" ], [ "operating leases", "$ 100", "$ 77", "$ 43", "$ 35", "$ 20", "$ 82", "$ 357" ], [ "marketing and sponsorships", "116", "117", "61", "54", "54", "178", "580" ], [ "total", "$ 216", "$ 194", "$ 104", "$ 89", "$ 74", "$ 260", "$ 937" ] ]

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[ "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" ] ]

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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" ] ]

[]

[ "table of contents part ii , item 8 schlumberger limited ( schlumberger n.v. , incorporated in the netherlands antilles ) and subsidiary companies shares of common stock issued treasury shares outstanding ." ]

[ "see the notes to consolidated financial statements 39 / slb 2003 form 10-k ." ]

[ [ "", "Issued", "In Treasury", "Shares Outstanding" ], [ "Balance, January 1, 2001", "667,085,793", "(94,361,099)", "572,724,694" ], [ "Employee stock purchase plan", "–", "1,752,833", "1,752,833" ], [ "Shares granted to Directors", "–", "4,800", "4,800" ], [ "Shares sold to optionees", "8,385", "1,399,686", "1,408,071" ], [ "Balance, December 31, 2001", "667,094,178", "(91,203,780)", "575,890,398" ], [ "Employee stock purchase plan", "–", "2,677,842", "2,677,842" ], [ "Shares granted to Directors", "–", "3,500", "3,500" ], [ "Shares sold to optionees", "10,490", "2,243,400", "2,253,890" ], [ "Acquisition of Technoguide", "–", "1,347,485", "1,347,485" ], [ "Balance, December 31, 2002", "667,104,668", "(84,931,553)", "582,173,115" ], [ "Employee stock purchase plan", "–", "2,464,088", "2,464,088" ], [ "Shares granted to Directors", "–", "3,500", "3,500" ], [ "Shares sold to optionees", "1,320", "1,306,305", "1,307,625" ], [ "Balance, December 31, 2003", "667,105,988", "(81,157,660)", "585,948,328" ] ]

[ [ "", "issued", "in treasury", "shares outstanding" ], [ "balance january 1 2001", "667085793", "-94361099 ( 94361099 )", "572724694" ], [ "employee stock purchase plan", "2013", "1752833", "1752833" ], [ "shares granted to directors", "2013", "4800", "4800" ], [ "shares sold to optionees", "8385", "1399686", "1408071" ], [ "balance december 31 2001", "667094178", "-91203780 ( 91203780 )", "575890398" ], [ "employee stock purchase plan", "2013", "2677842", "2677842" ], [ "shares granted to directors", "2013", "3500", "3500" ], [ "shares sold to optionees", "10490", "2243400", "2253890" ], [ "acquisition of technoguide", "2013", "1347485", "1347485" ], [ "balance december 31 2002", "667104668", "-84931553 ( 84931553 )", "582173115" ], [ "employee stock purchase plan", "2013", "2464088", "2464088" ], [ "shares granted to directors", "2013", "3500", "3500" ], [ "shares sold to optionees", "1320", "1306305", "1307625" ], [ "balance december 31 2003", "667105988", "-81157660 ( 81157660 )", "585948328" ] ]

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[ "other off-balance sheet commitments lease commitments the company leases various equipment and facilities , including retail space , under noncancelable operating lease arrangements .", "the company does not currently utilize any other off-balance sheet financing arrangements .", "the major facility leases are typically for terms not exceeding 10 years and generally provide renewal options for terms not exceeding five additional years .", "leases for retail space are for terms ranging from five to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options .", "as of september 29 , 2012 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 4.4 billion , of which $ 3.1 billion related to leases for retail space .", "rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 488 million , $ 338 million and $ 271 million in 2012 , 2011 and 2010 , respectively .", "future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 29 , 2012 , are as follows ( in millions ) : ." ]

[ "other commitments as of september 29 , 2012 , the company had outstanding off-balance sheet third-party manufacturing commitments and component purchase commitments of $ 21.1 billion .", "in addition to the off-balance sheet commitments mentioned above , the company had outstanding obligations of $ 988 million as of september 29 , 2012 , which were comprised mainly of commitments to acquire capital assets , including product tooling and manufacturing process equipment , and commitments related to advertising , research and development , internet and telecommunications services and other obligations .", "contingencies the company is subject to various legal proceedings and claims that have arisen in the ordinary course of business and have not been fully adjudicated , certain of which are discussed in part i , item 3 of this form 10-k under the heading 201clegal proceedings 201d and in part i , item 1a of this form 10-k under the heading 201crisk factors . 201d in the opinion of management , there was not at least a reasonable possibility the company may have incurred a material loss , or a material loss in excess of a recorded accrual , with respect to loss contingencies .", "however , the outcome of litigation is inherently uncertain .", "therefore , although management considers the likelihood of such an outcome to be remote , if one or more of these legal matters were resolved against the company in a reporting period for amounts in excess of management 2019s expectations , the company 2019s consolidated financial statements for that reporting period could be materially adversely affected .", "apple inc .", "vs samsung electronics co. , ltd , et al .", "on august 24 , 2012 , a jury returned a verdict awarding the company $ 1.05 billion in its lawsuit against samsung electronics and affiliated parties in the united states district court , northern district of california , san jose division .", "because the award is subject to entry of final judgment and may be subject to appeal , the company has not recognized the award in its consolidated financial statements for the year ended september 29 , 2012. ." ]

[ [ "2013", "$516" ], [ "2014", "556" ], [ "2015", "542" ], [ "2016", "513" ], [ "2017", "486" ], [ "Thereafter", "1,801" ], [ "Total minimum lease payments", "$4,414" ] ]

[ [ "2013", "$ 516" ], [ "2014", "556" ], [ "2015", "542" ], [ "2016", "513" ], [ "2017", "486" ], [ "thereafter", "1801" ], [ "total minimum lease payments", "$ 4414" ] ]

[ { "arg1": "338", "arg2": "271", "op": "minus2-1", "res": "67" }, { "arg1": "#0", "arg2": "271", "op": "divide2-2", "res": "25%" } ]

[ "notes to the consolidated financial statements 40 2016 ppg annual report and form 10-k 1 .", "summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc .", "( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s .", "and non-u.s. , that it controls .", "ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls .", "for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests .", "investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting .", "as a result , ppg 2019s share of the earnings or losses of such equity affiliates is included in the accompanying consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in 201cinvestments 201d in the accompanying consolidated balance sheet .", "transactions between ppg and its subsidiaries are eliminated in consolidation .", "use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s .", "generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period .", "such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated .", "actual outcomes could differ from those estimates .", "revenue recognition the company recognizes revenue when the earnings process is complete .", "revenue is recognized by all operating segments when goods are shipped and title to inventory and risk of loss passes to the customer or when services have been rendered .", "shipping and handling costs amounts billed to customers for shipping and handling are reported in 201cnet sales 201d in the accompanying consolidated statement of income .", "shipping and handling costs incurred by the company for the delivery of goods to customers are included in 201ccost of sales , exclusive of depreciation and amortization 201d in the accompanying consolidated statement of income .", "selling , general and administrative costs amounts presented as 201cselling , general and administrative 201d in the accompanying consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate- wide functional support in such areas as finance , law , human resources and planning .", "distribution costs pertain to the movement and storage of finished goods inventory at company- owned and leased warehouses and other distribution facilities .", "advertising costs advertising costs are expensed as incurred and totaled $ 322 million , $ 324 million and $ 297 million in 2016 , 2015 and 2014 , respectively .", "research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. ." ]

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

[ [ "($ in millions)", "2016", "2015", "2014" ], [ "Research and development – total", "$487", "$494", "$499" ], [ "Less depreciation on research facilities", "21", "18", "16" ], [ "Research and development, net", "$466", "$476", "$483" ] ]

[ [ "( $ in millions )", "2016", "2015", "2014" ], [ "research and development 2013 total", "$ 487", "$ 494", "$ 499" ], [ "less depreciation on research facilities", "21", "18", "16" ], [ "research and development net", "$ 466", "$ 476", "$ 483" ] ]

[ { "arg1": "466", "arg2": "476", "op": "minus2-1", "res": "-10" }, { "arg1": "#0", "arg2": "476", "op": "divide2-2", "res": "-2%" } ]

[ "humana inc .", "notes to consolidated financial statements 2014 ( continued ) the total intrinsic value of stock options exercised during 2007 was $ 133.9 million , compared with $ 133.7 million during 2006 and $ 57.8 million during 2005 .", "cash received from stock option exercises for the years ended december 31 , 2007 , 2006 , and 2005 totaled $ 62.7 million , $ 49.2 million , and $ 36.4 million , respectively .", "total compensation expense related to nonvested options not yet recognized was $ 23.6 million at december 31 , 2007 .", "we expect to recognize this compensation expense over a weighted average period of approximately 1.6 years .", "restricted stock awards restricted stock awards are granted with a fair value equal to the market price of our common stock on the date of grant .", "compensation expense is recorded straight-line over the vesting period , generally three years from the date of grant .", "the weighted average grant date fair value of our restricted stock awards was $ 63.59 , $ 54.36 , and $ 32.81 for the years ended december 31 , 2007 , 2006 , and 2005 , respectively .", "activity for our restricted stock awards was as follows for the year ended december 31 , 2007 : shares weighted average grant-date fair value ." ]

[ "the fair value of shares vested during the years ended december 31 , 2007 , 2006 , and 2005 was $ 3.4 million , $ 2.3 million , and $ 0.6 million , respectively .", "total compensation expense related to nonvested restricted stock awards not yet recognized was $ 44.7 million at december 31 , 2007 .", "we expect to recognize this compensation expense over a weighted average period of approximately 1.4 years .", "there are no other contractual terms covering restricted stock awards once vested. ." ]

[ [ "", "Shares", "Weighted Average Grant-Date Fair Value" ], [ "Nonvested restricted stock at December 31, 2006", "1,107,455", "$45.86" ], [ "Granted", "852,353", "63.59" ], [ "Vested", "(51,206)", "56.93" ], [ "Forfeited", "(63,624)", "49.65" ], [ "Nonvested restricted stock at December 31, 2007", "1,844,978", "$53.61" ] ]

[ [ "", "shares", "weighted average grant-date fair value" ], [ "nonvested restricted stock at december 31 2006", "1107455", "$ 45.86" ], [ "granted", "852353", "63.59" ], [ "vested", "-51206 ( 51206 )", "56.93" ], [ "forfeited", "-63624 ( 63624 )", "49.65" ], [ "nonvested restricted stock at december 31 2007", "1844978", "$ 53.61" ] ]

[ { "arg1": "63.59", "arg2": "54.36", "op": "divide1-1", "res": "1.1697" }, { "arg1": "#0", "arg2": "const_1", "op": "minus1-2", "res": "16.97%" } ]

[ "course of business , we actively manage our exposure to these market risks by entering into various hedging transactions , authorized under established policies that place clear controls on these activities .", "the counterparties in these transactions are generally highly rated institutions .", "we establish credit limits for each counterparty .", "our hedging transactions include but are not limited to a variety of derivative financial instruments .", "for information on interest rate , foreign exchange , commodity price , and equity instrument risk , please see note 7 to the consolidated financial statements in item 8 of this report .", "value at risk the estimates in the table below are intended to measure the maximum potential fair value we could lose in one day from adverse changes in market interest rates , foreign exchange rates , commodity prices , and equity prices under normal market conditions .", "a monte carlo value-at-risk ( var ) methodology was used to quantify the market risk for our exposures .", "the models assumed normal market conditions and used a 95 percent confidence level .", "the var calculation used historical interest and foreign exchange rates , and commodity and equity prices from the past year to estimate the potential volatility and correlation of these rates in the future .", "the market data were drawn from the riskmetrics 2122 data set .", "the calculations are not intended to represent actual losses in fair value that we expect to incur .", "further , since the hedging instrument ( the derivative ) inversely correlates with the underlying exposure , we would expect that any loss or gain in the fair value of our derivatives would be generally offset by an increase or decrease in the fair value of the underlying exposure .", "the positions included in the calculations were : debt ; investments ; interest rate swaps ; foreign exchange forwards ; commodity swaps , futures , and options ; and equity instruments .", "the calculations do not include the underlying foreign exchange and commodities or equity-related positions that are offset by these market-risk-sensitive instruments .", "the table below presents the estimated maximum potential var arising from a one-day loss in fair value for our interest rate , foreign currency , commodity , and equity market-risk-sensitive instruments outstanding as of may 27 , 2018 and may 28 , 2017 , and the average fair value impact during the year ended may 27 , 2018. ." ]

[ "." ]

[ [ "", "Fair Value Impact" ], [ "In Millions", "May 27, 2018", "Averageduringfiscal 2018", "May 28,2017" ], [ "Interest rate instruments", "$33.2", "$27.5", "$25.1" ], [ "Foreign currency instruments", "21.3", "23.1", "24.6" ], [ "Commodity instruments", "1.9", "2.1", "3.2" ], [ "Equity instruments", "2.0", "1.4", "1.3" ] ]

[ [ "in millions", "fair value impact may 27 2018", "fair value impact averageduringfiscal 2018", "fair value impact may 282017" ], [ "interest rate instruments", "$ 33.2", "$ 27.5", "$ 25.1" ], [ "foreign currency instruments", "21.3", "23.1", "24.6" ], [ "commodity instruments", "1.9", "2.1", "3.2" ], [ "equity instruments", "2.0", "1.4", "1.3" ] ]

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[ "notes to consolidated financial statements 236 jpmorgan chase & co./2010 annual report the table below sets forth the accretable yield activity for the firm 2019s pci consumer loans for the years ended december 31 , 2010 , 2009 and ." ]

[ "( a ) other changes in expected cash flows may vary from period to period as the firm continues to refine its cash flow model and periodically updates model assumptions .", "for the years ended december 31 , 2010 and 2009 , other changes in expected cash flows were principally driven by changes in prepayment assumptions , as well as reclassification to the nonaccretable difference .", "such changes are expected to have an insignificant impact on the accretable yield percentage .", "the factors that most significantly affect estimates of gross cash flows expected to be collected , and accordingly the accretable yield balance , include : ( i ) changes in the benchmark interest rate indices for variable rate products such as option arm and home equity loans ; and ( ii ) changes in prepayment assump- tions .", "to date , the decrease in the accretable yield percentage has been primarily related to a decrease in interest rates on vari- able-rate loans and , to a lesser extent , extended loan liquida- tion periods .", "certain events , such as extended loan liquidation periods , affect the timing of expected cash flows but not the amount of cash expected to be received ( i.e. , the accretable yield balance ) .", "extended loan liquidation periods reduce the accretable yield percentage because the same accretable yield balance is recognized against a higher-than-expected loan balance over a longer-than-expected period of time. ." ]

[ [ "Year ended December 31,", "Total PCI" ], [ "(in millions, except ratios)", "2010", "2009", "2008" ], [ "Balance, January 1", "$25,544", "$32,619", "$—" ], [ "Washington Mutual acquisition", "—", "—", "39,454" ], [ "Accretion into interest income", "(3,232)", "(4,363)", "(1,292)" ], [ "Changes in interest rates on variable rate loans", "(819)", "(4,849)", "(5,543)" ], [ "Other changes in expected cash flows^(a)", "(2,396)", "2,137", "—" ], [ "Balance, December 31", "$19,097", "$25,544", "$32,619" ], [ "Accretable yield percentage", "4.35%", "5.14%", "5.81%" ] ]

[ [ "year ended december 31 , ( in millions except ratios )", "year ended december 31 , 2010", "year ended december 31 , 2009", "2008" ], [ "balance january 1", "$ 25544", "$ 32619", "$ 2014" ], [ "washington mutual acquisition", "2014", "2014", "39454" ], [ "accretion into interest income", "-3232 ( 3232 )", "-4363 ( 4363 )", "-1292 ( 1292 )" ], [ "changes in interest rates on variable rate loans", "-819 ( 819 )", "-4849 ( 4849 )", "-5543 ( 5543 )" ], [ "other changes in expected cash flows ( a )", "-2396 ( 2396 )", "2137", "2014" ], [ "balance december 31", "$ 19097", "$ 25544", "$ 32619" ], [ "accretable yield percentage", "4.35% ( 4.35 % )", "5.14% ( 5.14 % )", "5.81% ( 5.81 % )" ] ]

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[ "edwards lifesciences corporation notes to consolidated financial statements ( continued ) 12 .", "common stock ( continued ) the company also maintains the nonemployee directors stock incentive compensation program ( the 2018 2018nonemployee directors program 2019 2019 ) .", "under the nonemployee directors program , each nonemployee director may receive annually up to 10000 stock options or 4000 restricted stock units of the company 2019s common stock , or a combination thereof , provided that in no event may the total value of the combined annual award exceed $ 0.2 million .", "additionally , each nonemployee director may elect to receive all or a portion of the annual cash retainer to which the director is otherwise entitled through the issuance of stock options or restricted stock units .", "each option and restricted stock unit award granted in 2011 or prior generally vests in three equal annual installments .", "each option and restricted stock unit award granted after 2011 generally vests after one year .", "upon a director 2019s initial election to the board , the director receives an initial grant of restricted stock units equal to a fair market value on grant date of $ 0.2 million , not to exceed 10000 shares .", "these grants vest over three years from the date of grant .", "under the nonemployee directors program , an aggregate of 1.4 million shares of the company 2019s common stock has been authorized for issuance .", "the company has an employee stock purchase plan for united states employees and a plan for international employees ( collectively 2018 2018espp 2019 2019 ) .", "under the espp , eligible employees may purchase shares of the company 2019s common stock at 85% ( 85 % ) of the lower of the fair market value of edwards lifesciences common stock on the effective date of subscription or the date of purchase .", "under the espp , employees can authorize the company to withhold up to 12% ( 12 % ) of their compensation for common stock purchases , subject to certain limitations .", "the espp is available to all active employees of the company paid from the united states payroll and to eligible employees of the company outside the united states to the extent permitted by local law .", "the espp for united states employees is qualified under section 423 of the internal revenue code .", "the number of shares of common stock authorized for issuance under the espp was 6.6 million shares .", "the fair value of each option award and employee stock purchase subscription is estimated on the date of grant using the black-scholes option valuation model that uses the assumptions noted in the following tables .", "the risk-free interest rate is estimated using the u.s .", "treasury yield curve and is based on the expected term of the award .", "expected volatility is estimated based on a blend of the weighted-average of the historical volatility of edwards 2019 stock and the implied volatility from traded options on edwards 2019 stock .", "the expected term of awards granted is estimated from the vesting period of the award , as well as historical exercise behavior , and represents the period of time that awards granted are expected to be outstanding .", "the company uses historical data to estimate forfeitures and has estimated an annual forfeiture rate of 5.1% ( 5.1 % ) .", "the black-scholes option pricing model was used with the following weighted-average assumptions for options granted during the following periods : option awards ." ]

[ "." ]

[ [ "", "2013", "2012", "2011" ], [ "Average risk-free interest rate", "0.8%", "0.7%", "1.7%" ], [ "Expected dividend yield", "None", "None", "None" ], [ "Expected volatility", "31%", "31%", "27%" ], [ "Expected life (years)", "4.6", "4.6", "4.5" ], [ "Fair value, per share", "$19.47", "$23.93", "$22.78" ] ]

[ [ "", "2013", "2012", "2011" ], [ "average risk-free interest rate", "0.8% ( 0.8 % )", "0.7% ( 0.7 % )", "1.7% ( 1.7 % )" ], [ "expected dividend yield", "none", "none", "none" ], [ "expected volatility", "31% ( 31 % )", "31% ( 31 % )", "27% ( 27 % )" ], [ "expected life ( years )", "4.6", "4.6", "4.5" ], [ "fair value per share", "$ 19.47", "$ 23.93", "$ 22.78" ] ]

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[ "performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's compensation survey group and the s&p 500 index .", "the graph assumes the investment of $ 100 as of december 31 , 2010 , in pmi common stock ( at prices quoted on the new york stock exchange ) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis .", "date pmi pmi compensation survey group ( 12 ) s&p 500 index ." ]

[ "( 1 ) the pmi compensation survey group consists of the following companies with substantial global sales that are direct competitors ; or have similar market capitalization ; or are primarily focused on consumer products ( excluding high technology and financial services ) ; and are companies for which comparative executive compensation data are readily available : bayer ag , british american tobacco p.l.c. , the coca-cola company , diageo plc , glaxosmithkline , heineken n.v. , imperial brands plc ( formerly , imperial tobacco group plc ) , johnson & johnson , mcdonald's corp. , international , inc. , nestl e9 s.a. , novartis ag , pepsico , inc. , pfizer inc. , roche holding ag , unilever nv and plc and vodafone group plc .", "( 2 ) on october 1 , 2012 , international , inc .", "( nasdaq : mdlz ) , formerly kraft foods inc. , announced that it had completed the spin-off of its north american grocery business , kraft foods group , inc .", "( nasdaq : krft ) .", "international , inc .", "was retained in the pmi compensation survey group index because of its global footprint .", "the pmi compensation survey group index total cumulative return calculation weights international , inc.'s total shareholder return at 65% ( 65 % ) of historical kraft foods inc.'s market capitalization on december 31 , 2010 , based on international , inc.'s initial market capitalization relative to the combined market capitalization of international , inc .", "and kraft foods group , inc .", "on october 2 , 2012 .", "note : figures are rounded to the nearest $ 0.10. ." ]

[ [ "Date", "PMI", "PMI Compensation Survey Group^(1,2)", "S&P 500 Index" ], [ "December 31, 2010", "$100.00", "$100.00", "$100.00" ], [ "December 31, 2011", "$139.80", "$114.10", "$102.10" ], [ "December 31, 2012", "$154.60", "$128.00", "$118.50" ], [ "December 31, 2013", "$167.70", "$163.60", "$156.80" ], [ "December 31, 2014", "$164.20", "$170.10", "$178.30" ], [ "December 31, 2015", "$186.20", "$179.20", "$180.80" ] ]

[ [ "date", "pmi", "pmi compensation survey group ( 12 )", "s&p 500 index" ], [ "december 31 2010", "$ 100.00", "$ 100.00", "$ 100.00" ], [ "december 31 2011", "$ 139.80", "$ 114.10", "$ 102.10" ], [ "december 31 2012", "$ 154.60", "$ 128.00", "$ 118.50" ], [ "december 31 2013", "$ 167.70", "$ 163.60", "$ 156.80" ], [ "december 31 2014", "$ 164.20", "$ 170.10", "$ 178.30" ], [ "december 31 2015", "$ 186.20", "$ 179.20", "$ 180.80" ] ]

[]

[ "included in other non-current liabilities , because the company believes that the ultimate payment or settlement of these liabilities will not occur within the next twelve months .", "prior to the adoption of these provisions , these amounts were included in current income tax payable .", "the company includes interest and penalties related to unrecognized tax benefits within the provision for taxes in the condensed consolidated statements of income , and as a result , no change in classification was made upon adopting these provisions .", "the condensed consolidated statements of income for fiscal year 2009 and fiscal year 2008 include $ 1.7 million and $ 1.3 million , respectively , of interest and penalties related to these uncertain tax positions .", "due to the complexity associated with its tax uncertainties , the company cannot make a reasonably reliable estimate as to the period in which it expects to settle the liabilities associated with these uncertain tax positions .", "the following table summarizes the changes in the total amounts of uncertain tax positions for fiscal 2008 and fiscal 2009. ." ]

[ "fiscal year 2004 and 2005 irs examination during the fourth quarter of fiscal 2007 , the irs completed its field examination of the company 2019s fiscal years 2004 and 2005 .", "on january 2 , 2008 , the irs issued its report for fiscal 2004 and 2005 , which included proposed adjustments related to these two fiscal years .", "the company has recorded taxes and penalties related to certain of these proposed adjustments .", "there are four items with an additional potential total tax liability of $ 46 million .", "the company has concluded , based on discussions with its tax advisors , that these four items are not likely to result in any additional tax liability .", "therefore , the company has not recorded any additional tax liability for these items and is appealing these proposed adjustments through the normal processes for the resolution of differences between the irs and taxpayers .", "the company 2019s initial meetings with the appellate division of the irs were held during fiscal year 2009 .", "two of the unresolved matters are one-time issues and pertain to section 965 of the internal revenue code related to the beneficial tax treatment of dividends from foreign owned companies under the american jobs creation act .", "the other matters pertain to the computation of research and development ( r&d ) tax credits and the profits earned from manufacturing activities carried on outside the united states .", "these latter two matters could impact taxes payable for fiscal 2004 and 2005 as well as for subsequent years .", "fiscal year 2006 and 2007 irs examination during the third quarter of fiscal 2009 , the irs completed its field examination of the company 2019s fiscal years 2006 and 2007 .", "the irs and the company have agreed on the treatment of a number of issues that have been included in an issue resolutions agreement related to the 2006 and 2007 tax returns .", "however , no agreement was reached on the tax treatment of a number of issues , including the same r&d credit and foreign manufacturing issues mentioned above related to fiscal 2004 and 2005 , the pricing of intercompany sales ( transfer pricing ) , and the deductibility of certain stock option compensation expenses .", "during the third quarter of fiscal 2009 , the irs issued its report for fiscal 2006 and fiscal 2007 , which included proposed adjustments related to these two fiscal years .", "the company has recorded taxes and penalties related to certain of these proposed adjustments .", "there are four items with an additional potential total tax liability of $ 195 million .", "the company concluded , based on discussions with its tax advisors , that these four items are not likely to result in any additional tax liability .", "therefore , the company has not recorded any additional tax liability for these items and is appealing these proposed adjustments through the normal processes for the resolution of differences between the irs and taxpayers .", "with the exception of the analog devices , inc .", "notes to consolidated financial statements 2014 ( continued ) ." ]

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

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

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[ "part i berths at the end of 2011 .", "there are approximately 10 ships with an estimated 34000 berths that are expected to be placed in service in the north american cruise market between 2012 and 2016 .", "europe in europe , cruising represents a smaller but growing sector of the vacation industry .", "it has experienced a compound annual growth rate in cruise guests of approximately 9.6% ( 9.6 % ) from 2007 to 2011 and we believe this market has significant continued growth poten- tial .", "we estimate that europe was served by 104 ships with approximately 100000 berths at the beginning of 2007 and by 121 ships with approximately 155000 berths at the end of 2011 .", "there are approximately 10 ships with an estimated 28000 berths that are expected to be placed in service in the european cruise market between 2012 and 2016 .", "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 ( 3 ) 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 .", "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 2007 through 2010 .", "year 2011 amounts represent our estimates ( see number 1 above ) .", "( 3 ) source : european cruise council for years 2007 through 2010 .", "year 2011 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 .", "we compete with a number of cruise lines ; however , our principal 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 consum- ers 2019 leisure time .", "demand for such activities is influ- enced by political and general economic conditions .", "companies within the vacation market are dependent on consumer discretionary spending .", "operating strategies our principal operating strategies are to : and employees and protect the environment in which our vessels and organization operate , to better serve our global guest base and grow our business , order to enhance our revenues while continuing to expand and diversify our guest mix through interna- tional guest sourcing , and ensure adequate cash and liquidity , with the overall goal of maximizing our return on invested capital and long-term shareholder value , our brands throughout the world , revitalization of existing ships and the transfer of key innovations across each brand , while expanding our fleet with the new state-of-the-art cruise ships recently delivered and on order , by deploying them into those markets and itineraries that provide opportunities to optimize returns , while continuing our focus on existing key markets , support ongoing operations and initiatives , and the principal industry distribution channel , while enhancing our consumer outreach programs. ." ]

[ [ "Year", "Global CruiseGuests⁽¹⁾", "Weighted-AverageSupplyofBerthsMarketedGlobally⁽¹⁾", "NorthAmericanCruiseGuests⁽²⁾", "Weighted-Average Supply ofBerths Marketedin NorthAmerica⁽¹⁾", "EuropeanCruiseGuests", "Weighted-AverageSupply ofBerthsMarketed inEurope⁽¹⁾" ], [ "2007", "16,586,000", "327,000", "10,247,000", "212,000", "4,080,000", "105,000" ], [ "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" ] ]

[ [ "year", "global cruiseguests ( 1 )", "weighted-averagesupplyofberthsmarketedglobally ( 1 )", "northamericancruiseguests ( 2 )", "weighted-average supply ofberths marketedin northamerica ( 1 )", "europeancruiseguests", "weighted-averagesupply ofberthsmarketed ineurope ( 1 )" ], [ "2007", "16586000", "327000", "10247000", "212000", "4080000", "105000" ], [ "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" ] ]

[]

[ "entergy texas , inc .", "and subsidiaries management 2019s financial discussion and analysis gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased primarily due to the base rate increases and the volume/weather effect , as discussed above .", "fuel and purchased power expenses increased primarily due to an increase in demand coupled with an increase in deferred fuel expense as a result of lower fuel refunds in 2011 versus 2010 , partially offset by a decrease in the average market price of natural gas .", "other regulatory charges decreased primarily due to the distribution in the first quarter 2011 of $ 17.4 million to customers of the 2007 rough production cost equalization remedy receipts .", "see note 2 to the financial statements for further discussion of the rough production cost equalization proceedings .", "2010 compared to 2009 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 2010 to 2009 .", "amount ( in millions ) ." ]

[ "the net wholesale revenue variance is primarily due to increased sales to municipal and co-op customers due to the addition of new contracts .", "the volume/weather variance is primarily due to increased electricity usage primarily in the residential and commercial sectors , resulting from a 1.5% ( 1.5 % ) increase in customers , coupled with the effect of more favorable weather on residential sales .", "billed electricity usage increased a total of 777 gwh , or 5% ( 5 % ) .", "the rough production cost equalization variance is due to an additional $ 18.6 million allocation recorded in the second quarter of 2009 for 2007 rough production cost equalization receipts ordered by the puct to texas retail customers over what was originally allocated to entergy texas prior to the jurisdictional separation of entergy gulf states , inc .", "into entergy gulf states louisiana and entergy texas , effective december 2007 , as discussed in note 2 to the financial statements .", "the retail electric price variance is primarily due to rate actions , including an annual base rate increase of $ 59 million beginning august 2010 as a result of the settlement of the december 2009 rate case .", "see note 2 to the financial statements for further discussion of the rate case settlement .", "the securitization transition charge variance is due to the issuance of securitization bonds .", "in november 2009 , entergy texas restoration funding , llc , 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 .", "the securitization transition charge is offset with a corresponding increase in interest on long-term debt with no impact on net income .", "see note 5 to the financial statements for further discussion of the securitization bond issuance. ." ]

[ [ "", "Amount (In Millions)" ], [ "2009 net revenue", "$485.1" ], [ "Net wholesale revenue", "27.7" ], [ "Volume/weather", "27.2" ], [ "Rough production cost equalization", "18.6" ], [ "Retail electric price", "16.3" ], [ "Securitization transition charge", "15.3" ], [ "Purchased power capacity", "(44.3)" ], [ "Other", "(5.7)" ], [ "2010 net revenue", "$540.2" ] ]

[ [ "", "amount ( in millions )" ], [ "2009 net revenue", "$ 485.1" ], [ "net wholesale revenue", "27.7" ], [ "volume/weather", "27.2" ], [ "rough production cost equalization", "18.6" ], [ "retail electric price", "16.3" ], [ "securitization transition charge", "15.3" ], [ "purchased power capacity", "-44.3 ( 44.3 )" ], [ "other", "-5.7 ( 5.7 )" ], [ "2010 net revenue", "$ 540.2" ] ]

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[ "stock options 2005 stock and incentive plan in june 2005 , the stockholders of the company approved the 2005 stock and incentive plan ( the 2005 stock plan ) .", "upon adoption of the 2005 stock plan , issuance of options under the company 2019s existing 2000 stock plan ceased .", "additionally , in connection with the acquisition of solexa , the company assumed stock options granted under the 2005 solexa equity incentive plan ( the 2005 solexa equity plan ) .", "as of december 30 , 2007 , an aggregate of up to 13485619 shares of the company 2019s common stock were reserved for issuance under the 2005 stock plan and the 2005 solexa equity plan .", "the 2005 stock plan provides for an automatic annual increase in the shares reserved for issuance by the lesser of 5% ( 5 % ) of outstanding shares of the company 2019s common stock on the last day of the immediately preceding fiscal year , 1200000 shares or such lesser amount as determined by the company 2019s board of directors .", "as of december 30 , 2007 , options to purchase 1834384 shares remained available for future grant under the 2005 stock plan and 2005 solexa equity plan .", "the company 2019s stock option activity under all stock option plans from january 2 , 2005 through december 30 , 2007 is as follows : options weighted- average exercise price ." ]

[ "illumina , inc .", "notes to consolidated financial statements 2014 ( continued ) ." ]

[ [ "", "Options", "Weighted- Average Exercise Price" ], [ "Outstanding at January 2, 2005", "6,205,020", "$6.99" ], [ "Granted", "2,992,300", "$10.02" ], [ "Exercised", "(869,925)", "$4.66" ], [ "Cancelled", "(1,001,964)", "$11.00" ], [ "Outstanding at January 1, 2006", "7,325,431", "$7.96" ], [ "Granted", "2,621,050", "$27.24" ], [ "Exercised", "(1,273,119)", "$7.28" ], [ "Cancelled", "(314,242)", "$12.44" ], [ "Outstanding at December 31, 2006", "8,359,120", "$13.94" ], [ "Options assumed through business combination", "1,424,332", "$21.37" ], [ "Granted", "3,784,508", "$40.64" ], [ "Exercised", "(2,179,286)", "$12.06" ], [ "Cancelled", "(964,740)", "$22.38" ], [ "Outstanding at December 30, 2007", "10,423,934", "$24.26" ] ]

[ [ "", "options", "weighted- average exercise price" ], [ "outstanding at january 2 2005", "6205020", "$ 6.99" ], [ "granted", "2992300", "$ 10.02" ], [ "exercised", "-869925 ( 869925 )", "$ 4.66" ], [ "cancelled", "-1001964 ( 1001964 )", "$ 11.00" ], [ "outstanding at january 1 2006", "7325431", "$ 7.96" ], [ "granted", "2621050", "$ 27.24" ], [ "exercised", "-1273119 ( 1273119 )", "$ 7.28" ], [ "cancelled", "-314242 ( 314242 )", "$ 12.44" ], [ "outstanding at december 31 2006", "8359120", "$ 13.94" ], [ "options assumed through business combination", "1424332", "$ 21.37" ], [ "granted", "3784508", "$ 40.64" ], [ "exercised", "-2179286 ( 2179286 )", "$ 12.06" ], [ "cancelled", "-964740 ( 964740 )", "$ 22.38" ], [ "outstanding at december 30 2007", "10423934", "$ 24.26" ] ]

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[ "stock performance graph the following performance graph compares the cumulative total return ( including dividends ) to the holders of our common stock from december 31 , 2002 through december 31 , 2007 , with the cumulative total returns of the nyse composite index , the ftse nareit composite reit index ( the 201call reit index 201d ) , the ftse nareit healthcare equity reit index ( the 201chealthcare reit index 201d ) and the russell 1000 index over the same period .", "the comparison assumes $ 100 was invested on december 31 , 2002 in our common stock and in each of the foregoing indices and assumes reinvestment of dividends , as applicable .", "we have included the nyse composite index in the performance graph because our common stock is listed on the nyse .", "we have included the other indices because we believe that they are either most representative of the industry in which we compete , or otherwise provide a fair basis for comparison with ventas , and are therefore particularly relevant to an assessment of our performance .", "the figures in the table below are rounded to the nearest dollar. ." ]

[ "ventas nyse composite index all reit index healthcare reit index russell 1000 index ." ]

[ [ "", "12/31/2002", "12/31/2003", "12/31/2004", "12/31/2005", "12/31/2006", "12/31/2007" ], [ "Ventas", "$100", "$206", "$270", "$331", "$457", "$512" ], [ "NYSE Composite Index", "$100", "$132", "$151", "$166", "$200", "$217" ], [ "All REIT Index", "$100", "$138", "$181", "$196", "$262", "$215" ], [ "Healthcare REIT Index", "$100", "$154", "$186", "$189", "$273", "$279" ], [ "Russell 1000 Index", "$100", "$130", "$145", "$154", "$178", "$188" ] ]

[ [ "", "12/31/2002", "12/31/2003", "12/31/2004", "12/31/2005", "12/31/2006", "12/31/2007" ], [ "ventas", "$ 100", "$ 206", "$ 270", "$ 331", "$ 457", "$ 512" ], [ "nyse composite index", "$ 100", "$ 132", "$ 151", "$ 166", "$ 200", "$ 217" ], [ "all reit index", "$ 100", "$ 138", "$ 181", "$ 196", "$ 262", "$ 215" ], [ "healthcare reit index", "$ 100", "$ 154", "$ 186", "$ 189", "$ 273", "$ 279" ], [ "russell 1000 index", "$ 100", "$ 130", "$ 145", "$ 154", "$ 178", "$ 188" ] ]

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[ "table of contents ( e ) other adjustments primarily include certain historical retention costs , unusual , non-recurring litigation matters , secondary-offering-related expenses and expenses related to the consolidation of office locations north of chicago .", "during the year ended december 31 , 2013 , we recorded ipo- and secondary-offering related expenses of $ 75.0 million .", "for additional information on the ipo- and secondary-offering related expenses , see note 10 ( stockholder 2019s equity ) to the accompanying consolidated financial statements .", "( f ) includes the impact of consolidating five months for the year ended december 31 , 2015 of kelway 2019s financial results .", "( 4 ) non-gaap net income excludes , among other things , charges related to the amortization of acquisition-related intangible assets , non-cash equity-based compensation , acquisition and integration expenses , and gains and losses from the extinguishment of long-term debt .", "non-gaap net income is considered a non-gaap financial measure .", "generally , a non-gaap financial measure is a numerical measure of a company 2019s performance , financial position or cash flows that either excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with gaap .", "non-gaap measures used by us may differ from similar measures used by other companies , even when similar terms are used to identify such measures .", "we believe that non-gaap net income provides meaningful information regarding our operating performance and cash flows including our ability to meet our future debt service , capital expenditures and working capital requirements .", "the following unaudited table sets forth a reconciliation of net income to non-gaap net income for the periods presented: ." ]

[ "acquisition and integration expenses ( c ) 10.2 2014 2014 2014 2014 gain on remeasurement of equity investment ( d ) ( 98.1 ) 2014 2014 2014 2014 other adjustments ( e ) 3.7 ( 0.3 ) 61.2 ( 3.3 ) ( 15.6 ) aggregate adjustment for income taxes ( f ) ( 64.8 ) ( 103.0 ) ( 113.5 ) ( 71.6 ) ( 106.8 ) non-gaap net income ( g ) $ 503.5 $ 409.9 $ 314.3 $ 247.1 $ 198.8 ( a ) includes amortization expense for acquisition-related intangible assets , primarily customer relationships , customer contracts and trade names .", "( b ) represents our 35% ( 35 % ) share of an expense related to certain equity awards granted by one of the sellers to kelway coworkers in july 2015 prior to our acquisition of kelway .", "( c ) primarily includes expenses related to the acquisition of kelway .", "( d ) represents the gain resulting from the remeasurement of our previously held 35% ( 35 % ) equity investment to fair value upon the completion of the acquisition of kelway .", "( e ) primarily includes expenses related to the consolidation of office locations north of chicago and secondary- offering-related expenses .", "amount in 2013 primarily relates to ipo- and secondary-offering related expenses .", "( f ) based on a normalized effective tax rate of 38.0% ( 38.0 % ) ( 39.0% ( 39.0 % ) prior to the kelway acquisition ) , except for the non- cash equity-based compensation from our equity investment and the gain resulting from the remeasurement of our previously held 35% ( 35 % ) equity investment to fair value upon the completion of the acquisition of kelway , which were tax effected at a rate of 35.4% ( 35.4 % ) .", "the aggregate adjustment for income taxes also includes a $ 4.0 million deferred tax benefit recorded during the three months and year ended december 31 , 2015 as a result of a tax rate reduction in the united kingdom and additional tax expense during the year ended december 31 , 2015 of $ 3.3 million as a result of recording withholding tax on the unremitted earnings of our canadian subsidiary .", "additionally , note that certain acquisition costs are non-deductible. ." ]

[ [ "", "Years Ended December 31," ], [ "(in millions)", "2015", "2014", "2013", "2012", "2011" ], [ "Net income", "$403.1", "$244.9", "$132.8", "$119.0", "$17.1" ], [ "Amortization of intangibles^(a)", "173.9", "161.2", "161.2", "163.7", "165.7" ], [ "Non-cash equity-based compensation", "31.2", "16.4", "8.6", "22.1", "19.5" ], [ "Non-cash equity-based compensation related to equity investment^(b)", "20.0", "—", "—", "—", "—" ], [ "Net loss on extinguishments of long-term debt", "24.3", "90.7", "64.0", "17.2", "118.9" ], [ "Acquisition and integration expenses^(c)", "10.2", "—", "—", "—", "—" ], [ "Gain on remeasurement of equity investment^(d)", "(98.1)", "—", "—", "—", "—" ], [ "Other adjustments^(e)", "3.7", "(0.3)", "61.2", "(3.3)", "(15.6)" ], [ "Aggregate adjustment for income taxes^(f)", "(64.8)", "(103.0)", "(113.5)", "(71.6)", "(106.8)" ], [ "Non-GAAP net income^(g)", "$503.5", "$409.9", "$314.3", "$247.1", "$198.8" ] ]

[ [ "( in millions )", "years ended december 31 , 2015", "years ended december 31 , 2014", "years ended december 31 , 2013", "years ended december 31 , 2012", "years ended december 31 , 2011" ], [ "net income", "$ 403.1", "$ 244.9", "$ 132.8", "$ 119.0", "$ 17.1" ], [ "amortization of intangibles ( a )", "173.9", "161.2", "161.2", "163.7", "165.7" ], [ "non-cash equity-based compensation", "31.2", "16.4", "8.6", "22.1", "19.5" ], [ "non-cash equity-based compensation related to equity investment ( b )", "20.0", "2014", "2014", "2014", "2014" ], [ "net loss on extinguishments of long-term debt", "24.3", "90.7", "64.0", "17.2", "118.9" ], [ "acquisition and integration expenses ( c )", "10.2", "2014", "2014", "2014", "2014" ], [ "gain on remeasurement of equity investment ( d )", "-98.1 ( 98.1 )", "2014", "2014", "2014", "2014" ], [ "other adjustments ( e )", "3.7", "-0.3 ( 0.3 )", "61.2", "-3.3 ( 3.3 )", "-15.6 ( 15.6 )" ], [ "aggregate adjustment for income taxes ( f )", "-64.8 ( 64.8 )", "-103.0 ( 103.0 )", "-113.5 ( 113.5 )", "-71.6 ( 71.6 )", "-106.8 ( 106.8 )" ], [ "non-gaap net income ( g )", "$ 503.5", "$ 409.9", "$ 314.3", "$ 247.1", "$ 198.8" ] ]

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[ "factors , including the market price of our common stock , general economic and market conditions and applicable legal requirements .", "the repurchase program may be commenced , suspended or discontinued at any time .", "in fiscal 2019 , we repurchased approximately 2.1 million shares of our common stock for an aggregate cost of $ 88.6 million .", "in fiscal 2018 , we repurchased approximately 3.4 million shares of our common stock for an aggregate cost of $ 195.1 million .", "as of september 30 , 2019 , we had approximately 19.1 million shares of common stock available for repurchase under the program .", "we anticipate that we will be able to fund our capital expenditures , interest payments , dividends and stock repurchases , pension payments , working capital needs , note repurchases , restructuring activities , repayments of current portion of long-term debt and other corporate actions for the foreseeable future from cash generated from operations , borrowings under our credit facilities , proceeds from our a/r sales agreement , proceeds from the issuance of debt or equity securities or other additional long-term debt financing , including new or amended facilities .", "in addition , we continually review our capital structure and conditions in the private and public debt markets in order to optimize our mix of indebtedness .", "in connection with these reviews , we may seek to refinance existing indebtedness to extend maturities , reduce borrowing costs or otherwise improve the terms and composition of our indebtedness .", "contractual obligations we summarize our enforceable and legally binding contractual obligations at september 30 , 2019 , and the effect these obligations are expected to have on our liquidity and cash flow in future periods in the following table .", "certain amounts in this table are based on management 2019s estimates and assumptions about these obligations , including their duration , the possibility of renewal , anticipated actions by third parties and other factors , including estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans .", "because these estimates and assumptions are subjective , the enforceable and legally binding obligations we actually pay in future periods may vary from those presented in the table. ." ]

[ "( 1 ) includes only principal payments owed on our debt assuming that all of our long-term debt will be held to maturity , excluding scheduled payments .", "we have excluded $ 163.5 million of fair value of debt step-up , deferred financing costs and unamortized bond discounts from the table to arrive at actual debt obligations .", "see 201cnote 13 .", "debt 201d of the notes to consolidated financial statements for information on the interest rates that apply to our various debt instruments .", "( 2 ) see 201cnote 15 .", "operating leases 201d of the notes to consolidated financial statements for additional information .", "( 3 ) the fair value step-up of $ 16.9 million is excluded .", "see 201cnote 13 .", "debt 2014 capital lease and other indebtedness 201d of the notes to consolidated financial statements for additional information .", "( 4 ) purchase obligations include agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum or variable price provision ; and the approximate timing of the transaction .", "purchase obligations exclude agreements that are cancelable without penalty .", "( 5 ) we have included in the table future estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans .", "our estimates are based on factors , such as discount rates and expected returns on plan assets .", "future contributions are subject to changes in our underfunded status based on factors such as investment performance , discount rates , returns on plan assets and changes in legislation .", "it is possible that our assumptions may change , actual market performance may vary or we may decide to contribute different amounts .", "we have excluded $ 237.2 million of multiemployer pension plan withdrawal liabilities recorded as of september 30 , 2019 , including our estimate of the accumulated funding deficiency , due to lack of ." ]

[ [ "", "Payments Due by Period" ], [ "(In millions)", "Total", "Fiscal 2020", "Fiscal 2021and 2022", "Fiscal 2023and 2024", "Thereafter" ], [ "Long-Term Debt, including current portion,excluding capital lease obligations⁽¹⁾", "$9,714.1", "$550.8", "$939.8", "$2,494.3", "$5,729.2" ], [ "Operating lease obligations⁽²⁾", "930.4", "214.3", "316.4", "193.6", "206.1" ], [ "Capital lease obligations⁽³⁾", "168.9", "6.4", "8.7", "2.9", "150.9" ], [ "Purchase obligations and other^{(4) (5) (6)}", "2,293.5", "1,607.0", "292.5", "206.7", "187.3" ], [ "Total", "$13,106.9", "$2,378.5", "$1,557.4", "$2,897.5", "$6,273.5" ] ]

[ [ "( in millions )", "payments due by period total", "payments due by period fiscal 2020", "payments due by period fiscal 2021and 2022", "payments due by period fiscal 2023and 2024", "payments due by period thereafter" ], [ "long-term debt including current portionexcluding capital lease obligations ( 1 )", "$ 9714.1", "$ 550.8", "$ 939.8", "$ 2494.3", "$ 5729.2" ], [ "operating lease obligations ( 2 )", "930.4", "214.3", "316.4", "193.6", "206.1" ], [ "capital lease obligations ( 3 )", "168.9", "6.4", "8.7", "2.9", "150.9" ], [ "purchase obligations and other ( 4 ) ( 5 ) ( 6 )", "2293.5", "1607.0", "292.5", "206.7", "187.3" ], [ "total", "$ 13106.9", "$ 2378.5", "$ 1557.4", "$ 2897.5", "$ 6273.5" ] ]

[]

[ "human capital management strategic imperative entergy engaged in a strategic imperative intended to optimize the organization through a process known as human capital management .", "in july 2013 management completed a comprehensive review of entergy 2019s organization design and processes .", "this effort resulted in a new internal organization structure , which resulted in the elimination of approximately 800 employee positions .", "entergy incurred approximately $ 110 million in costs in 2013 associated with this phase of human capital management , primarily implementation costs , severance expenses , pension curtailment losses , special termination benefits expense , and corporate property , plant , and equipment impairments .", "in december 2013 , entergy deferred for future recovery approximately $ 45 million of these costs , as approved by the apsc and the lpsc .", "see note 2 to the financial statements for details of the deferrals and note 13 to the financial statements for details of the restructuring charges .", "liquidity and capital resources this section discusses entergy 2019s capital structure , capital spending plans and other uses of capital , sources of capital , and the cash flow activity presented in the cash flow statement .", "capital structure entergy 2019s capitalization is balanced between equity and debt , as shown in the following table. ." ]

[ "( a ) calculation excludes the arkansas , louisiana , and texas securitization bonds , which are non-recourse to entergy arkansas , entergy louisiana , and entergy texas , respectively .", "net debt consists of debt less cash and cash equivalents .", "debt consists of notes payable and commercial paper , capital lease obligations , and long-term debt , including the currently maturing portion .", "capital consists of debt , common shareholders 2019 equity , and subsidiaries 2019 preferred stock without sinking fund .", "net capital consists of capital less cash and cash equivalents .", "entergy uses the debt to capital ratios excluding securitization bonds in analyzing its financial condition and believes they provide useful information to its investors and creditors in evaluating entergy 2019s financial condition because the securitization bonds are non-recourse to entergy , as more fully described in note 5 to the financial statements .", "entergy also uses the net debt to net capital ratio excluding securitization bonds in analyzing its financial condition and believes it provides useful information to its investors and creditors in evaluating entergy 2019s financial condition because net debt indicates entergy 2019s outstanding debt position that could not be readily satisfied by cash and cash equivalents on hand .", "long-term debt , including the currently maturing portion , makes up most of entergy 2019s total debt outstanding .", "following are entergy 2019s long-term debt principal maturities and estimated interest payments as of december 31 , 2013 .", "to estimate future interest payments for variable rate debt , entergy used the rate as of december 31 , 2013 .", "the amounts below include payments on the entergy louisiana and system energy sale-leaseback transactions , which are included in long-term debt on the balance sheet .", "entergy corporation and subsidiaries management's financial discussion and analysis ." ]

[ [ "", "2013", "2012" ], [ "Debt to capital", "57.9%", "58.7%" ], [ "Effect of excluding securitization bonds", "(1.6%)", "(1.8%)" ], [ "Debt to capital, excluding securitization bonds (a)", "56.3%", "56.9%" ], [ "Effect of subtracting cash", "(1.5%)", "(1.1%)" ], [ "Net debt to net capital, excluding securitization bonds (a)", "54.8%", "55.8%" ] ]

[ [ "", "2013", "2012" ], [ "debt to capital", "57.9% ( 57.9 % )", "58.7% ( 58.7 % )" ], [ "effect of excluding securitization bonds", "( 1.6% ( 1.6 % ) )", "( 1.8% ( 1.8 % ) )" ], [ "debt to capital excluding securitization bonds ( a )", "56.3% ( 56.3 % )", "56.9% ( 56.9 % )" ], [ "effect of subtracting cash", "( 1.5% ( 1.5 % ) )", "( 1.1% ( 1.1 % ) )" ], [ "net debt to net capital excluding securitization bonds ( a )", "54.8% ( 54.8 % )", "55.8% ( 55.8 % )" ] ]

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[ "consolidated 2005 results of operations was an estimated reduction of gross profit and a corresponding decrease to inventory , at cost , of $ 5.2 million .", "store pre-opening costs pre-opening costs related to new store openings and the construction periods are expensed as incurred .", "property and equipment property and equipment are recorded at cost .", "the company provides for depreciation and amortization on a straight-line basis over the following estimated useful lives: ." ]

[ "improvements of leased properties are amortized over the shorter of the life of the applicable lease term or the estimated useful life of the asset .", "impairment of long-lived assets when indicators of impairment are present , the company evaluates the carrying value of long-lived assets , other than goodwill , in relation to the operating performance and future cash flows or the appraised values of the underlying assets .", "in accordance with sfas 144 , 201caccounting for the impairment or disposal of long-lived assets , 201d the company reviews for impairment stores open more than two years for which current cash flows from operations are negative .", "impairment results when the carrying value of the assets exceeds the undiscounted future cash flows over the life of the lease .", "the company 2019s estimate of undiscounted future cash flows over the lease term is based upon historical operations of the stores and estimates of future store profitability which encompasses many factors that are subject to variability and difficult to predict .", "if a long-lived asset is found to be impaired , the amount recognized for impairment is equal to the difference between the carrying value and the asset 2019s fair value .", "the fair value is estimated based primarily upon future cash flows ( discounted at the company 2019s credit adjusted risk-free rate ) or other reasonable estimates of fair market value .", "assets to be disposed of are adjusted to the fair value less the cost to sell if less than the book value .", "the company recorded impairment charges , included in sg&a expense , of approximately $ 9.4 million in 2006 , $ 0.6 million in 2005 and $ 0.2 million in 2004 to reduce the carrying value of certain of its stores 2019 assets as deemed necessary due to negative sales trends and cash flows at these locations .", "the majority of the 2006 charges were recorded pursuant to certain strategic initiatives discussed in note 2 .", "other assets other assets consist primarily of long-term investments , qualifying prepaid expenses , debt issuance costs which are amortized over the life of the related obligations , utility and security deposits , life insurance policies and goodwill. ." ]

[ [ "Land improvements", "20" ], [ "Buildings", "39-40" ], [ "Furniture, fixtures and equipment", "3-10" ] ]

[ [ "land improvements", "20" ], [ "buildings", "39-40" ], [ "furniture fixtures and equipment", "3-10" ] ]

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[ "2022 designate subsidiaries as unrestricted subsidiaries ; and 2022 sell certain assets or merge with or into other companies .", "subject to certain exceptions , the indentures governing the senior subordinated notes and the senior discount notes permit the issuers of the notes and their restricted subsidiaries to incur additional indebtedness , including secured indebtedness .", "in addition , the senior credit facilities require bcp crystal to maintain the following financial covenants : a maximum total leverage ratio , a maximum bank debt leverage ratio , a minimum interest coverage ratio and maximum capital expenditures limitation .", "the maximum consolidated net bank debt to adjusted ebitda ratio , as defined , previously required under the senior credit facilities , was eliminated when the company amended the facilities in january 2005 .", "as of december 31 , 2006 , the company was in compliance with all of the financial covenants related to its debt agreements .", "principal payments scheduled to be made on the company 2019s debt , including short term borrowings , is as follows : ( in $ millions ) ." ]

[ "( 1 ) includes $ 2 million purchase accounting adjustment to assumed debt .", "17 .", "benefit obligations pension obligations .", "pension obligations are established for benefits payable in the form of retirement , disability and surviving dependent pensions .", "the benefits offered vary according to the legal , fiscal and economic conditions of each country .", "the commitments result from participation in defined contribution and defined benefit plans , primarily in the u.s .", "benefits are dependent on years of service and the employee 2019s compensation .", "supplemental retirement benefits provided to certain employees are non-qualified for u.s .", "tax purposes .", "separate trusts have been established for some non-qualified plans .", "the company sponsors defined benefit pension plans in north america , europe and asia .", "as of december 31 , 2006 , the company 2019s u.s .", "qualified pension plan represented greater than 84% ( 84 % ) and 76% ( 76 % ) of celanese 2019s pension plan assets and liabilities , respectively .", "independent trusts or insurance companies administer the majority of these plans .", "pension costs under the company 2019s retirement plans are actuarially determined .", "the company sponsors various defined contribution plans in north america , europe , and asia covering certain employees .", "employees may contribute to these plans and the company will match these contributions in varying amounts .", "the company 2019s matching contribution to the defined contribution plans are based on specified percentages of employee contributions and aggregated $ 11 million , $ 12 million , $ 8 million and $ 3 million for the years ended december 31 , 2006 and 2005 , the nine months ended december 31 , 2004 and the three months ended march 31 , 2004 , respectively .", "celanese corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) ." ]

[ [ "", "Total (In $ millions)" ], [ "2007", "309" ], [ "2008", "25" ], [ "2009", "50" ], [ "2010", "39" ], [ "2011", "1,485" ], [ "Thereafter(1)", "1,590" ], [ "Total", "3,498" ] ]

[ [ "", "total ( in $ millions )" ], [ "2007", "309" ], [ "2008", "25" ], [ "2009", "50" ], [ "2010", "39" ], [ "2011", "1485" ], [ "thereafter ( 1 )", "1590" ], [ "total", "3498" ] ]

[]

[ "zimmer biomet holdings , inc .", "2018 form 10-k annual report ( 8 ) we have incurred other various expenses from specific events or projects that we consider highly variable or have a significant impact to our operating results that we have excluded from our non-gaap financial measures .", "this includes legal entity and operational restructuring as well as our costs of complying with our dpa with the u.s .", "government related to certain fcpa matters involving biomet and certain of its subsidiaries .", "under the dpa , which has a three-year term , we are subject to oversight by an independent compliance monitor , which monitorship commenced in july 2017 .", "the excluded costs include the fees paid to the independent compliance monitor and to external legal counsel assisting in the matter .", "( 9 ) represents the tax effects on the previously specified items .", "the tax effect for the u.s .", "jurisdiction is calculated based on an effective rate considering federal and state taxes , as well as permanent items .", "for jurisdictions outside the u.s. , the tax effect is calculated based upon the statutory rates where the items were incurred .", "( 10 ) the 2016 period includes negative effects from finalizing the tax accounts for the biomet merger .", "under the applicable u.s .", "gaap rules , these measurement period adjustments are recognized on a prospective basis in the period of change .", "( 11 ) the 2017 tax act resulted in a net favorable provisional adjustment due to the reduction of deferred tax liabilities for unremitted earnings and revaluation of deferred tax liabilities to a 21 percent rate , which was partially offset by provisional tax charges related to the toll charge provision of the 2017 tax act .", "in 2018 , we finalized our estimates of the effects of the 2017 tax act based upon final guidance issued by u.s .", "tax authorities .", "( 12 ) other certain tax adjustments in 2018 primarily related to changes in tax rates on deferred tax liabilities recorded on intangible assets recognized in acquisition-related accounting and adjustments from internal restructuring transactions that provide us access to offshore funds in a tax efficient manner .", "in 2017 , other certain tax adjustments relate to tax benefits from lower tax rates unrelated to the impact of the 2017 tax act , net favorable resolutions of various tax matters and net favorable adjustments from internal restructuring transactions .", "the 2016 adjustment primarily related to a favorable adjustment to certain deferred tax liabilities recognized as part of acquisition-related accounting and favorable resolution of certain tax matters with taxing authorities offset by internal restructuring transactions that provide us access to offshore funds in a tax efficient manner .", "( 13 ) diluted share count used in adjusted diluted eps : year ended december 31 , 2018 ." ]

[ "liquidity and capital resources cash flows provided by operating activities were $ 1747.4 million in 2018 compared to $ 1582.3 million and $ 1632.2 million in 2017 and 2016 , respectively .", "the increase in operating cash flows in 2018 compared to 2017 was driven by additional cash flows from our sale of accounts receivable in certain countries , lower acquisition and integration expenses and lower quality remediation expenses , as well as certain significant payments made in the 2017 period .", "in the 2017 period , we made payments related to the u.s .", "durom cup settlement program , and we paid $ 30.5 million in settlement payments to resolve previously-disclosed fcpa matters involving biomet and certain of its subsidiaries as discussed in note 19 to our consolidated financial statements included in item 8 of this report .", "the decline in operating cash flows in 2017 compared to 2016 was driven by additional investments in inventory , additional expenses for quality remediation and the significant payments made in the 2017 period as discussed in the previous sentence .", "these unfavorable items were partially offset by $ 174.0 million of incremental cash flows in 2017 from our sale of accounts receivable in certain countries .", "cash flows used in investing activities were $ 416.6 million in 2018 compared to $ 510.8 million and $ 1691.5 million in 2017 and 2016 , respectively .", "instrument and property , plant and equipment additions reflected ongoing investments in our product portfolio and optimization of our manufacturing and logistics network .", "in 2018 , we entered into receive-fixed-rate , pay-fixed-rate cross-currency interest rate swaps .", "our investing cash flows reflect the net cash inflows from the fixed- rate interest rate receipts/payments , as well as the termination of certain of these swaps that were in a gain position in the year .", "the 2016 period included cash outflows for the acquisition of ldr holding corporation ( 201cldr 201d ) and other business acquisitions .", "additionally , the 2016 period reflects the maturity of available-for-sale debt securities .", "as these investments matured , we used the cash to pay off debt and have not reinvested in any additional debt securities .", "cash flows used in financing activities were $ 1302.2 million in 2018 .", "our primary use of available cash in 2018 was for debt repayment .", "we received net proceeds of $ 749.5 million from the issuance of additional senior notes and borrowed $ 400.0 million from our multicurrency revolving facility to repay $ 1150.0 million of senior notes that became due on april 2 , 2018 .", "we subsequently repaid the $ 400.0 million of multicurrency revolving facility borrowings .", "also in 2018 , we borrowed another $ 675.0 million under a new u.s .", "term loan c and used the cash proceeds along with cash generated from operations throughout the year to repay an aggregate of $ 835.0 million on u.s .", "term loan a , $ 450.0 million on u.s .", "term loan b , and we subsequently repaid $ 140.0 million on u.s .", "term loan c .", "overall , we had approximately $ 1150 million of net principal repayments on our senior notes and term loans in 2018 .", "in 2017 , our primary use of available cash was also for debt repayment compared to 2016 when we were not able to repay as much debt due to financing requirements to complete the ldr and other business acquisitions .", "additionally in 2017 , we had net cash inflows of $ 103.5 million on factoring programs that had not been remitted to the third party .", "in 2018 , we had net cash outflows related to these factoring programs as we remitted the $ 103.5 million and collected only $ 66.8 million which had not yet been remitted by the end of the year .", "since our factoring programs started at the end of 2016 , we did not have similar cash flows in that year .", "in january 2019 , we borrowed an additional $ 200.0 million under u.s .", "term loan c and used those proceeds , along with cash on hand , to repay the remaining $ 225.0 million outstanding under u.s .", "term loan b .", "in february , may , august and december 2018 , our board of directors declared cash dividends of $ 0.24 per share .", "we expect to continue paying cash dividends on a quarterly basis ; however , future dividends are subject to approval of the board of directors and may be adjusted as business needs or market conditions change .", "as further discussed in note 11 to our consolidated financial statements , our debt facilities restrict the payment of dividends in certain circumstances. ." ]

[ [ "", "Year endedDecember 31, 2018" ], [ "Diluted shares", "203.5" ], [ "Dilutive shares assuming net earnings", "1.5" ], [ "Adjusted diluted shares", "205.0" ] ]

[ [ "", "year endeddecember 31 2018" ], [ "diluted shares", "203.5" ], [ "dilutive shares assuming net earnings", "1.5" ], [ "adjusted diluted shares", "205.0" ] ]

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[ "american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) from december 1 through may 31 of each year .", "during the 2008 , 2007 and 2006 offering periods employees purchased 55764 , 48886 and 53210 shares , respectively , at weighted average prices per share of $ 30.08 , $ 33.93 and $ 24.98 , respectively .", "the fair value of the espp offerings is estimated on the offering period commencement date using a black-scholes pricing model with the expense recognized over the expected life , which is the six month offering period over which employees accumulate payroll deductions to purchase the company 2019s common stock .", "the weighted average fair value for the espp shares purchased during 2008 , 2007 and 2006 were $ 7.89 , $ 9.09 and $ 6.79 , respectively .", "at december 31 , 2008 , 8.8 million shares remain reserved for future issuance under the plan .", "key assumptions used to apply this pricing model for the years ended december 31 , are as follows: ." ]

[ "13 .", "stockholders 2019 equity warrants 2014in january 2003 , the company issued warrants to purchase approximately 11.4 million shares of its common stock in connection with an offering of 808000 units , each consisting of $ 1000 principal amount at maturity of ati 12.25% ( 12.25 % ) senior subordinated discount notes due 2008 and a warrant to purchase 14.0953 shares of the company 2019s common stock .", "these warrants became exercisable on january 29 , 2006 at an exercise price of $ 0.01 per share .", "as these warrants expired on august 1 , 2008 , none were outstanding as of december 31 , in august 2005 , the company completed its merger with spectrasite , inc .", "and assumed outstanding warrants to purchase shares of spectrasite , inc .", "common stock .", "as of the merger completion date , each warrant was exercisable for two shares of spectrasite , inc .", "common stock at an exercise price of $ 32 per warrant .", "upon completion of the merger , each warrant to purchase shares of spectrasite , inc .", "common stock automatically converted into a warrant to purchase shares of the company 2019s common stock , such that upon exercise of each warrant , the holder has a right to receive 3.575 shares of the company 2019s common stock in lieu of each share of spectrasite , inc .", "common stock that would have been receivable under each assumed warrant prior to the merger .", "upon completion of the company 2019s merger with spectrasite , inc. , these warrants were exercisable for approximately 6.8 million shares of common stock .", "of these warrants , warrants to purchase approximately 1.8 million and 2.0 million shares of common stock remained outstanding as of december 31 , 2008 and 2007 , respectively .", "these warrants will expire on february 10 , 2010 .", "stock repurchase programs 2014during the year ended december 31 , 2008 , the company repurchased an aggregate of approximately 18.3 million shares of its common stock for an aggregate of $ 697.1 million , including commissions and fees , pursuant to its publicly announced stock repurchase programs , as described below. ." ]

[ [ "", "2008", "2007", "2006" ], [ "Range of risk free interest rates", "1.99%—3.28%", "4.98%—5.05%", "5.01%—5.17%" ], [ "Weighted average risk-free interest rate", "2.58%", "5.02%", "5.08%" ], [ "Expected life of the shares", "6 months", "6 months", "6 months" ], [ "Range of expected volatility of underlying stock price", "27.85%—28.51%", "27.53%—28.74%", "29.60%" ], [ "Weighted average expected volatility of underlying stock price", "28.51%", "28.22%", "29.60%" ], [ "Expected annual dividends", "N/A", "N/A", "N/A" ] ]

[ [ "", "2008", "2007", "2006" ], [ "range of risk free interest rates", "1.99% ( 1.99 % ) 20143.28% ( 20143.28 % )", "4.98% ( 4.98 % ) 20145.05% ( 20145.05 % )", "5.01% ( 5.01 % ) 20145.17% ( 20145.17 % )" ], [ "weighted average risk-free interest rate", "2.58% ( 2.58 % )", "5.02% ( 5.02 % )", "5.08% ( 5.08 % )" ], [ "expected life of the shares", "6 months", "6 months", "6 months" ], [ "range of expected volatility of underlying stock price", "27.85% ( 27.85 % ) 201428.51% ( 201428.51 % )", "27.53% ( 27.53 % ) 201428.74% ( 201428.74 % )", "29.60% ( 29.60 % )" ], [ "weighted average expected volatility of underlying stock price", "28.51% ( 28.51 % )", "28.22% ( 28.22 % )", "29.60% ( 29.60 % )" ], [ "expected annual dividends", "n/a", "n/a", "n/a" ] ]

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[ "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 % )" ] ]

[]

[ "entergy corporation and subsidiaries notes to financial statements as of december 31 , 2008 , system energy had future minimum lease payments ( reflecting an implicit rate of 5.13% ( 5.13 % ) ) , which are recorded as long-term debt as follows : amount ( in thousands ) ." ]

[ "." ]

[ [ "", "Amount (In Thousands)" ], [ "2009", "$47,760" ], [ "2010", "48,569" ], [ "2011", "49,437" ], [ "2012", "49,959" ], [ "2013", "50,546" ], [ "Years thereafter", "103,890" ], [ "Total", "350,161" ], [ "Less: Amount representing interest", "54,857" ], [ "Present value of net minimum lease payments", "$295,304" ] ]

[ [ "", "amount ( in thousands )" ], [ "2009", "$ 47760" ], [ "2010", "48569" ], [ "2011", "49437" ], [ "2012", "49959" ], [ "2013", "50546" ], [ "years thereafter", "103890" ], [ "total", "350161" ], [ "less : amount representing interest", "54857" ], [ "present value of net minimum lease payments", "$ 295304" ] ]

[]

[ "the graph below compares expeditors international of washington , inc.'s cumulative 5-year total shareholder return on common stock with the cumulative total returns of the s&p 500 index , the nasdaq transportation index , and the nasdaq industrial transportation index ( nqusb2770t ) as a replacement for the nasdaq transportation index .", "the company is making the modification to reference a specific transportation index and to source that data directly from nasdaq .", "the graph assumes that the value of the investment in our common stock and in each of the indexes ( including reinvestment of dividends ) was $ 100 on 12/31/2012 and tracks it through 12/31/2017 .", "total return assumes reinvestment of dividends in each of the indices indicated .", "comparison of 5-year cumulative total return among expeditors international of washington , inc. , the s&p 500 index , the nasdaq industrial transportation index and the nasdaq transportation index. ." ]

[ "the stock price performance included in this graph is not necessarily indicative of future stock price performance .", "item 6 2014 selected financial data financial highlights in thousands , except per share data 2017 2016 2015 2014 2013 revenues ..................................................................... .", "$ 6920948 6098037 6616632 6564721 6080257 net revenues1 ............................................................... .", "$ 2319189 2164036 2187777 1981427 1882853 net earnings attributable to shareholders ..................... .", "$ 489345 430807 457223 376888 348526 diluted earnings attributable to shareholders per share $ 2.69 2.36 2.40 1.92 1.68 basic earnings attributable to shareholders per share.. .", "$ 2.73 2.38 2.42 1.92 1.69 dividends declared and paid per common share.......... .", "$ 0.84 0.80 0.72 0.64 0.60 cash used for dividends ............................................... .", "$ 150495 145123 135673 124634 123292 cash used for share repurchases ................................. .", "$ 478258 337658 629991 550781 261936 working capital ............................................................. .", "$ 1448333 1288648 1115136 1285188 1526673 total assets .................................................................. .", "$ 3117008 2790871 2565577 2870626 2996416 shareholders 2019 equity ..................................................... .", "$ 1991858 1844638 1691993 1868408 2084783 weighted average diluted shares outstanding .............. .", "181666 182704 190223 196768 206895 weighted average basic shares outstanding ................ .", "179247 181282 188941 196147 205995 _______________________ 1non-gaap measure calculated as revenues less directly related operating expenses attributable to our principal services .", "see management's discussion and analysis for a reconciliation of net revenues to revenues .", "safe harbor for forward-looking statements under private securities litigation reform act of 1995 ; certain cautionary statements this annual report on form 10-k for the fiscal year ended december 31 , 2017 contains 201cforward-looking statements , 201d as defined in section 27a of the securities act of 1933 , as amended , and section 21e of the securities exchange act of 1934 , as amended .", "from time to time , expeditors or its representatives have made or may make forward-looking statements , orally or in writing .", "such forward-looking statements may be included in , but not limited to , press releases , presentations , oral statements made with the approval of an authorized executive officer or in various filings made by expeditors with the securities and exchange commission .", "statements including those preceded by , followed by or that include the words or phrases 201cwill likely result 201d , 201care expected to 201d , \"would expect\" , \"would not expect\" , 201cwill continue 201d , 201cis anticipated 201d , 201cestimate 201d , 201cproject 201d , \"provisional\" , \"plan\" , \"believe\" , \"probable\" , \"reasonably possible\" , \"may\" , \"could\" , \"should\" , \"intends\" , \"foreseeable future\" or similar expressions are intended to identify 201cforward-looking statements 201d within the meaning of the private securities litigation reform act of 1995 .", "such statements are qualified in their entirety by reference to and are accompanied by the discussion in item 1a of certain important factors that could cause actual results to differ materially from such forward-looking statements .", "the risks included in item 1a are not exhaustive .", "furthermore , reference is also made to other sections of this report , which include additional factors that could adversely impact expeditors' business and financial performance .", "moreover , expeditors operates in a very competitive , complex and rapidly changing global environment .", "new risk factors emerge from time to time and it is not possible for management to predict all of such risk factors , nor can it assess the impact of all of such risk factors on expeditors' business or the extent to which any factor , or combination of factors , may cause actual results to differ materially from those contained in any forward-looking statements .", "accordingly , forward-looking statements cannot be relied upon as a guarantee of actual results .", "shareholders should be aware that while expeditors does , from time to time , communicate with securities analysts , it is against expeditors' policy to disclose to such analysts any material non-public information or other confidential commercial information .", "accordingly , shareholders should not assume that expeditors agrees with any statement or report issued by any analyst irrespective of the content of such statement or report .", "furthermore , expeditors has a policy against issuing financial forecasts or projections or confirming the accuracy of forecasts or projections issued by others .", "accordingly , to the extent that reports issued by securities analysts contain any projections , forecasts or opinions , such reports are not the responsibility of expeditors. ." ]

[ [ "", "12/12", "12/13", "12/14", "12/15", "12/16", "12/17" ], [ "Expeditors International of Washington, Inc.", "$100.00", "$113.52", "$116.07", "$119.12", "$142.10", "$176.08" ], [ "Standard and Poor's 500 Index", "100.00", "132.39", "150.51", "152.59", "170.84", "208.14" ], [ "NASDAQ Transportation", "100.00", "133.76", "187.65", "162.30", "193.79", "248.92" ], [ "NASDAQ Industrial Transportation (NQUSB2770T)", "100.00", "141.60", "171.91", "132.47", "171.17", "218.34" ] ]

[ [ "", "12/12", "12/13", "12/14", "12/15", "12/16", "12/17" ], [ "expeditors international of washington inc .", "$ 100.00", "$ 113.52", "$ 116.07", "$ 119.12", "$ 142.10", "$ 176.08" ], [ "standard and poor's 500 index", "100.00", "132.39", "150.51", "152.59", "170.84", "208.14" ], [ "nasdaq transportation", "100.00", "133.76", "187.65", "162.30", "193.79", "248.92" ], [ "nasdaq industrial transportation ( nqusb2770t )", "100.00", "141.60", "171.91", "132.47", "171.17", "218.34" ] ]

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[ "2011 compared to 2010 is&gs 2019 net sales for 2011 decreased $ 540 million , or 5% ( 5 % ) , compared to 2010 .", "the decrease primarily was attributable to lower volume of approximately $ 665 million due to the absence of the dris program that supported the 2010 u.s .", "census and a decline in activities on the jtrs program .", "this decrease partially was offset by increased net sales on numerous programs .", "is&gs 2019 operating profit for 2011 increased $ 60 million , or 7% ( 7 % ) , compared to 2010 .", "operating profit increased approximately $ 180 million due to volume and the retirement of risks in 2011 and the absence of reserves recognized in 2010 on numerous programs ( including among others , odin ( about $ 60 million ) and twic and automated flight service station programs ) .", "the increases in operating profit partially were offset by the absence of the dris program and a decline in activities on the jtrs program of about $ 120 million .", "adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 130 million higher in 2011 compared to 2010 .", "backlog backlog decreased in 2012 compared to 2011 primarily due to the substantial completion of various programs in 2011 ( primarily odin , u.k .", "census , and jtrs ) .", "the decrease in backlog during 2011 compared to 2010 mainly was due to declining activities on the jtrs program and several other smaller programs .", "trends we expect is&gs 2019 net sales to decline in 2013 in the mid single digit percentage range as compared to 2012 primarily due to the continued downturn in federal information technology budgets .", "operating profit is expected to decline in 2013 in the mid single digit percentage range consistent with the expected decline in net sales , resulting in margins that are comparable with 2012 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 ; fire control systems ; mission operations support , readiness , engineering support , and integration services ; logistics and other technical services ; and manned and unmanned ground vehicles .", "mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system ( mlrs ) , hellfire , javelin , joint air-to-surface standoff missile ( jassm ) , apache fire control system ( apache ) , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) , and sof clss .", "mfc 2019s operating results included the following ( in millions ) : ." ]

[ "2012 compared to 2011 mfc 2019s net sales for 2012 were comparable to 2011 .", "net sales decreased approximately $ 130 million due to lower volume and risk retirements on various services programs , and about $ 60 million due to lower volume from fire control systems programs ( primarily sniper ae ; lantirn ae ; and apache ) .", "the decreases largely were offset by higher net sales of approximately $ 95 million due to higher volume from tactical missile programs ( primarily javelin and hellfire ) and approximately $ 80 million for air and missile defense programs ( primarily pac-3 and thaad ) .", "mfc 2019s operating profit for 2012 increased $ 187 million , or 17% ( 17 % ) , compared to 2011 .", "the increase was attributable to higher risk retirements and volume of about $ 95 million from tactical missile programs ( primarily javelin and hellfire ) ; increased risk retirements and volume of approximately $ 60 million for air and missile defense programs ( primarily thaad and pac-3 ) ; and about $ 45 million from a resolution of contractual matters .", "partially offsetting these increases was lower risk retirements and volume on various programs , including $ 25 million for services programs .", "adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 145 million higher for 2012 compared to 2011. ." ]

[ [ "", "2012", "2011", "2010" ], [ "Net sales", "$7,457", "$7,463", "$6,930" ], [ "Operating profit", "1,256", "1,069", "973" ], [ "Operating margins", "16.8%", "14.3%", "14.0%" ], [ "Backlog at year-end", "14,700", "14,400", "12,800" ] ]

[ [ "", "2012", "2011", "2010" ], [ "net sales", "$ 7457", "$ 7463", "$ 6930" ], [ "operating profit", "1256", "1069", "973" ], [ "operating margins", "16.8% ( 16.8 % )", "14.3% ( 14.3 % )", "14.0% ( 14.0 % )" ], [ "backlog at year-end", "14700", "14400", "12800" ] ]

[ { "arg1": "7457", "arg2": "7463", "op": "minus1-1", "res": "-6" }, { "arg1": "#0", "arg2": "7463", "op": "divide1-2", "res": "-0.1%" } ]

[ "performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's compensation survey group and the s&p 500 index .", "the graph assumes the investment of $ 100 as of december 31 , 2010 , in pmi common stock ( at prices quoted on the new york stock exchange ) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis .", "date pmi pmi compensation survey group ( 12 ) s&p 500 index ." ]

[ "( 1 ) the pmi compensation survey group consists of the following companies with substantial global sales that are direct competitors ; or have similar market capitalization ; or are primarily focused on consumer products ( excluding high technology and financial services ) ; and are companies for which comparative executive compensation data are readily available : bayer ag , british american tobacco p.l.c. , the coca-cola company , diageo plc , glaxosmithkline , heineken n.v. , imperial brands plc ( formerly , imperial tobacco group plc ) , johnson & johnson , mcdonald's corp. , international , inc. , nestl e9 s.a. , novartis ag , pepsico , inc. , pfizer inc. , roche holding ag , unilever nv and plc and vodafone group plc .", "( 2 ) on october 1 , 2012 , international , inc .", "( nasdaq : mdlz ) , formerly kraft foods inc. , announced that it had completed the spin-off of its north american grocery business , kraft foods group , inc .", "( nasdaq : krft ) .", "international , inc .", "was retained in the pmi compensation survey group index because of its global footprint .", "the pmi compensation survey group index total cumulative return calculation weights international , inc.'s total shareholder return at 65% ( 65 % ) of historical kraft foods inc.'s market capitalization on december 31 , 2010 , based on international , inc.'s initial market capitalization relative to the combined market capitalization of international , inc .", "and kraft foods group , inc .", "on october 2 , 2012 .", "note : figures are rounded to the nearest $ 0.10. ." ]

[ [ "Date", "PMI", "PMI Compensation Survey Group^(1,2)", "S&P 500 Index" ], [ "December 31, 2010", "$100.00", "$100.00", "$100.00" ], [ "December 31, 2011", "$139.80", "$114.10", "$102.10" ], [ "December 31, 2012", "$154.60", "$128.00", "$118.50" ], [ "December 31, 2013", "$167.70", "$163.60", "$156.80" ], [ "December 31, 2014", "$164.20", "$170.10", "$178.30" ], [ "December 31, 2015", "$186.20", "$179.20", "$180.80" ] ]

[ [ "date", "pmi", "pmi compensation survey group ( 12 )", "s&p 500 index" ], [ "december 31 2010", "$ 100.00", "$ 100.00", "$ 100.00" ], [ "december 31 2011", "$ 139.80", "$ 114.10", "$ 102.10" ], [ "december 31 2012", "$ 154.60", "$ 128.00", "$ 118.50" ], [ "december 31 2013", "$ 167.70", "$ 163.60", "$ 156.80" ], [ "december 31 2014", "$ 164.20", "$ 170.10", "$ 178.30" ], [ "december 31 2015", "$ 186.20", "$ 179.20", "$ 180.80" ] ]

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[ "13 .", "pension and other postretirement benefit plans the company has defined benefit pension plans covering eligible employees in the united states and in certain of its international subsidiaries .", "as a result of plan design changes approved in 2011 , beginning on january 1 , 2013 , active participants in merck 2019s primary u.s .", "defined benefit pension plans are accruing pension benefits using new cash balance formulas based on age , service , pay and interest .", "however , during a transition period from january 1 , 2013 through december 31 , 2019 , participants will earn the greater of the benefit as calculated under the employee 2019s legacy final average pay formula or their new cash balance formula .", "for all years of service after december 31 , 2019 , participants will earn future benefits under only the cash balance formula .", "in addition , the company provides medical benefits , principally to its eligible u.s .", "retirees and their dependents , through its other postretirement benefit plans .", "the company uses december 31 as the year-end measurement date for all of its pension plans and other postretirement benefit plans .", "net periodic benefit cost the net periodic benefit cost for pension and other postretirement benefit plans consisted of the following components: ." ]

[ "the increase in net periodic benefit cost for pension and other postretirement benefit plans in 2013 as compared with 2012 is largely attributable to a change in the discount rate .", "the net periodic benefit cost attributable to u.s .", "pension plans included in the above table was $ 348 million in 2013 , $ 268 million in 2012 and $ 406 million in in connection with restructuring actions ( see note 3 ) , termination charges were recorded in 2013 , 2012 and 2011 on pension and other postretirement benefit plans related to expanded eligibility for certain employees exiting merck .", "also , in connection with these restructuring activities , curtailments were recorded in 2013 , 2012 and 2011 on pension and other postretirement benefit plans .", "in addition , settlements were recorded in 2013 , 2012 and 2011 on certain domestic and international pension plans .", "table of contents ." ]

[ [ "", "Pension Benefits", "Other Postretirement Benefits" ], [ "Years Ended December 31", "2013", "2012", "2011", "2013", "2012", "2011" ], [ "Service cost", "$682", "$555", "$619", "$102", "$82", "$110" ], [ "Interest cost", "665", "661", "718", "107", "121", "141" ], [ "Expected return on plan assets", "(1,097)", "(970)", "(972)", "(126)", "(136)", "(142)" ], [ "Net amortization", "336", "185", "201", "(50)", "(35)", "(17)" ], [ "Termination benefits", "58", "27", "59", "50", "18", "29" ], [ "Curtailments", "(23)", "(10)", "(86)", "(11)", "(7)", "1" ], [ "Settlements", "23", "18", "4", "—", "—", "—" ], [ "Net periodic benefit cost", "$644", "$466", "$543", "$72", "$43", "$122" ] ]

[ [ "years ended december 31", "pension benefits 2013", "pension benefits 2012", "pension benefits 2011", "pension benefits 2013", "pension benefits 2012", "2011" ], [ "service cost", "$ 682", "$ 555", "$ 619", "$ 102", "$ 82", "$ 110" ], [ "interest cost", "665", "661", "718", "107", "121", "141" ], [ "expected return on plan assets", "-1097 ( 1097 )", "-970 ( 970 )", "-972 ( 972 )", "-126 ( 126 )", "-136 ( 136 )", "-142 ( 142 )" ], [ "net amortization", "336", "185", "201", "-50 ( 50 )", "-35 ( 35 )", "-17 ( 17 )" ], [ "termination benefits", "58", "27", "59", "50", "18", "29" ], [ "curtailments", "-23 ( 23 )", "-10 ( 10 )", "-86 ( 86 )", "-11 ( 11 )", "-7 ( 7 )", "1" ], [ "settlements", "23", "18", "4", "2014", "2014", "2014" ], [ "net periodic benefit cost", "$ 644", "$ 466", "$ 543", "$ 72", "$ 43", "$ 122" ] ]

[ { "arg1": "682", "arg2": "555", "op": "divide1-1", "res": "1.2288" }, { "arg1": "#0", "arg2": "const_1", "op": "minus1-2", "res": "22.88%" } ]

[ "korea engineering plastics co. , ltd .", "founded in 1987 , kepco is the leading producer of pom in south korea .", "kepco is a venture between celanese's ticona business ( 50% ( 50 % ) ) , mitsubishi gas chemical company , inc .", "( 40% ( 40 % ) ) and mitsubishi corporation ( 10% ( 10 % ) ) .", "kepco has polyacetal production facilities in ulsan , south korea , compounding facilities for pbt and nylon in pyongtaek , south korea , and participates with polyplastics and mitsubishi gas chemical company , inc .", "in a world-scale pom facility in nantong , china .", "polyplastics co. , ltd .", "polyplastics is a leading supplier of engineered plastics in the asia-pacific region and is a venture between daicel chemical industries ltd. , japan ( 55% ( 55 % ) ) , and celanese's ticona business ( 45% ( 45 % ) ) .", "established in 1964 , polyplastics is a producer and marketer of pom and lcp in the asia-pacific region , with principal production facilities located in japan , taiwan , malaysia and china .", "fortron industries llc .", "fortron is a leading global producer of polyphenylene sulfide ( 201cpps 201d ) , sold under the fortron ae brand , which is used in a wide variety of automotive and other applications , especially those requiring heat and/or chemical resistance .", "established in 1992 , fortron is a limited liability company whose members are ticona fortron inc .", "( 50% ( 50 % ) ownership and a wholly-owned subsidiary of cna holdings , llc ) and kureha corporation ( 50% ( 50 % ) ownership and a wholly-owned subsidiary of kureha chemical industry co. , ltd .", "of japan ) .", "fortron's facility is located in wilmington , north carolina .", "this venture combines the sales , marketing , distribution , compounding and manufacturing expertise of celanese with the pps polymer technology expertise of kureha .", "china acetate strategic ventures .", "we hold an approximate 30% ( 30 % ) ownership interest in three separate acetate production ventures in china .", "these include the nantong cellulose fibers co .", "ltd. , kunming cellulose fibers co .", "ltd .", "and zhuhai cellulose fibers co .", "ltd .", "the china national tobacco corporation , the chinese state-owned tobacco entity , controls the remaining ownership interest in each of these ventures .", "with an estimated 30% ( 30 % ) share of the world's cigarette production and consumption , china is the world's largest and fastest growing area for acetate tow products according to the 2009 stanford research institute international chemical economics handbook .", "combined , these ventures are a leader in chinese domestic acetate production and are well positioned to supply chinese cigarette producers .", "in december 2009 , we announced plans with china national tobacco to expand our acetate flake and tow capacity at our venture's nantong facility and we received formal approval for the expansions , each by 30000 tons , during 2010 .", "since their inception in 1986 , the china acetate ventures have completed 12 expansions , leading to earnings growth and increased dividends .", "our chinese acetate ventures fund their operations using operating cash flow .", "during 2011 , we made contributions of $ 8 million related to the capacity expansions in nantong and have committed contributions of $ 9 million in 2012 .", "in 2010 , we made contributions of $ 12 million .", "our chinese acetate ventures pay a dividend in the second quarter of each fiscal year , based on the ventures' performance for the preceding year .", "in 2011 , 2010 and 2009 , we received cash dividends of $ 78 million , $ 71 million and $ 56 million , respectively .", "although our ownership interest in each of our china acetate ventures exceeds 20% ( 20 % ) , we account for these investments using the cost method of accounting because we determined that we cannot exercise significant influence over these entities due to local government investment in and influence over these entities , limitations on our involvement in the day-to-day operations and the present inability of the entities to provide timely financial information prepared in accordance with generally accepted accounting principles in the united states ( 201cus gaap 201d ) .", "2022 other equity method investments infraservs .", "we hold indirect ownership interests in several infraserv groups in germany that own and develop industrial parks and provide on-site general and administrative support to tenants .", "the table below represents our equity investments in infraserv ventures as of december 31 , 2011: ." ]

[ "." ]

[ [ "", "Ownership %" ], [ "InfraServ GmbH & Co. Gendorf KG", "39" ], [ "InfraServ GmbH & Co. Knapsack KG", "27" ], [ "InfraServ GmbH & Co. Hoechst KG", "32" ] ]

[ [ "", "ownership % ( % )" ], [ "infraserv gmbh & co . gendorf kg", "39" ], [ "infraserv gmbh & co . knapsack kg", "27" ], [ "infraserv gmbh & co . hoechst kg", "32" ] ]

[ { "arg1": "78", "arg2": "71", "op": "minus1-1", "res": "7" }, { "arg1": "#0", "arg2": "71", "op": "divide1-2", "res": "9.9%" } ]

[ "management 2019s discussion and analysis fully phased-in capital ratios the table below presents our estimated ratio of cet1 to rwas calculated under the basel iii advanced rules and the standardized capital rules on a fully phased-in basis. ." ]

[ "although the fully phased-in capital ratios are not applicable until 2019 , we believe that the estimated ratios in the table above are meaningful because they are measures that we , our regulators and investors use to assess our ability to meet future regulatory capital requirements .", "the estimated fully phased-in basel iii advanced and standardized cet1 ratios are non-gaap measures as of both december 2014 and december 2013 and may not be comparable to similar non-gaap measures used by other companies ( as of those dates ) .", "these estimated ratios are based on our current interpretation , expectations and understanding of the revised capital framework and may evolve as we discuss its interpretation and application with our regulators .", "see note 20 to the consolidated financial statements for information about our transitional capital ratios , which represent our binding ratios as of december 2014 .", "in the table above : 2030 the deduction for goodwill and identifiable intangible assets , net of deferred tax liabilities , represents goodwill of $ 3.65 billion and $ 3.71 billion as of december 2014 and december 2013 , respectively , and identifiable intangible assets of $ 515 million and $ 671 million as of december 2014 and december 2013 , respectively , net of associated deferred tax liabilities of $ 964 million and $ 908 million as of december 2014 and december 2013 , respectively .", "2030 the deduction for investments in nonconsolidated financial institutions represents the amount by which our investments in the capital of nonconsolidated financial institutions exceed certain prescribed thresholds .", "the decrease from december 2013 to december 2014 primarily reflects reductions in our fund investments .", "2030 other adjustments primarily include the overfunded portion of our defined benefit pension plan obligation , net of associated deferred tax liabilities , and disallowed deferred tax assets , credit valuation adjustments on derivative liabilities and debt valuation adjustments , as well as other required credit risk-based deductions .", "supplementary leverage ratio the revised capital framework introduces a new supplementary leverage ratio for advanced approach banking organizations .", "under amendments to the revised capital framework , the u.s .", "federal bank regulatory agencies approved a final rule that implements the supplementary leverage ratio aligned with the definition of leverage established by the basel committee .", "the supplementary leverage ratio compares tier 1 capital to a measure of leverage exposure , defined as the sum of our quarterly average assets less certain deductions plus certain off-balance-sheet exposures , including a measure of derivatives exposures and commitments .", "the revised capital framework requires a minimum supplementary leverage ratio of 5.0% ( 5.0 % ) ( comprised of the minimum requirement of 3.0% ( 3.0 % ) and a 2.0% ( 2.0 % ) buffer ) for u.s .", "banks deemed to be g-sibs , effective on january 1 , 2018 .", "certain disclosures regarding the supplementary leverage ratio are required beginning in the first quarter of 2015 .", "as of december 2014 , our estimated supplementary leverage ratio was 5.0% ( 5.0 % ) , including tier 1 capital on a fully phased-in basis of $ 73.17 billion ( cet1 of $ 64.26 billion plus perpetual non-cumulative preferred stock of $ 9.20 billion less other adjustments of $ 290 million ) divided by total leverage exposure of $ 1.45 trillion ( total quarterly average assets of $ 873 billion plus adjustments of $ 579 billion , primarily comprised of off-balance-sheet exposure related to derivatives and commitments ) .", "we believe that the estimated supplementary leverage ratio is meaningful because it is a measure that we , our regulators and investors use to assess our ability to meet future regulatory capital requirements .", "the supplementary leverage ratio is a non-gaap measure and may not be comparable to similar non-gaap measures used by other companies .", "this estimated supplementary leverage ratio is based on our current interpretation and understanding of the u.s .", "federal bank regulatory agencies 2019 final rule and may evolve as we discuss its interpretation and application with our regulators .", "60 goldman sachs 2014 annual report ." ]

[ [ "", "As of December" ], [ "<i>$ in millions</i>", "2014", "2013" ], [ "Common shareholders’ equity", "$ 73,597", "$ 71,267" ], [ "Deductions for goodwill and identifiable intangible assets, net of deferred tax liabilities", "(3,196)", "(3,468)" ], [ "Deductions for investments in nonconsolidated financial institutions", "(4,928)", "(9,091)" ], [ "Other adjustments", "(1,213)", "(489)" ], [ "CET1", "$ 64,260", "$ 58,219" ], [ "Basel III Advanced RWAs", "$577,869", "$594,662" ], [ "Basel III Advanced CET1 ratio", "11.1%", "9.8%" ], [ "Standardized RWAs", "$627,444", "$635,092" ], [ "Standardized CET1 ratio", "10.2%", "9.2%" ] ]

[ [ "$ in millions", "as of december 2014", "as of december 2013" ], [ "common shareholders 2019 equity", "$ 73597", "$ 71267" ], [ "deductions for goodwill and identifiable intangible assets net of deferred tax liabilities", "-3196 ( 3196 )", "-3468 ( 3468 )" ], [ "deductions for investments in nonconsolidated financial institutions", "-4928 ( 4928 )", "-9091 ( 9091 )" ], [ "other adjustments", "-1213 ( 1213 )", "-489 ( 489 )" ], [ "cet1", "$ 64260", "$ 58219" ], [ "basel iii advanced rwas", "$ 577869", "$ 594662" ], [ "basel iii advanced cet1 ratio", "11.1% ( 11.1 % )", "9.8% ( 9.8 % )" ], [ "standardized rwas", "$ 627444", "$ 635092" ], [ "standardized cet1 ratio", "10.2% ( 10.2 % )", "9.2% ( 9.2 % )" ] ]

[]

[ "performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's peer group and the s&p 500 index .", "the graph assumes the investment of $ 100 as of december 31 , 2012 , in pmi common stock ( at prices quoted on the new york stock exchange ) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis .", "date pmi pmi peer group ( 1 ) s&p 500 index ." ]

[ "( 1 ) the pmi peer group presented in this graph is the same as that used in the prior year , except reynolds american inc .", "was removed following the completion of its acquisition by british american tobacco p.l.c .", "on july 25 , 2017 .", "the pmi peer group was established based on a review of four characteristics : global presence ; a focus on consumer products ; and net revenues and a market capitalization of a similar size to those of pmi .", "the review also considered the primary international tobacco companies .", "as a result of this review , the following companies constitute the pmi peer group : altria group , inc. , anheuser-busch inbev sa/nv , british american tobacco p.l.c. , the coca-cola company , colgate-palmolive co. , diageo plc , heineken n.v. , imperial brands plc , japan tobacco inc. , johnson & johnson , kimberly-clark corporation , the kraft-heinz company , mcdonald's corp. , mondel z international , inc. , nestl e9 s.a. , pepsico , inc. , the procter & gamble company , roche holding ag , and unilever nv and plc .", "note : figures are rounded to the nearest $ 0.10. ." ]

[ [ "Date", "PMI", "PMI Peer Group⁽¹⁾", "S&P 500 Index" ], [ "December 31, 2012", "$100.00", "$100.00", "$100.00" ], [ "December 31, 2013", "$108.50", "$122.80", "$132.40" ], [ "December 31, 2014", "$106.20", "$132.50", "$150.50" ], [ "December 31, 2015", "$120.40", "$143.50", "$152.60" ], [ "December 31, 2016", "$130.80", "$145.60", "$170.80" ], [ "December 31, 2017", "$156.80", "$172.70", "$208.10" ] ]

[ [ "date", "pmi", "pmi peer group ( 1 )", "s&p 500 index" ], [ "december 31 2012", "$ 100.00", "$ 100.00", "$ 100.00" ], [ "december 31 2013", "$ 108.50", "$ 122.80", "$ 132.40" ], [ "december 31 2014", "$ 106.20", "$ 132.50", "$ 150.50" ], [ "december 31 2015", "$ 120.40", "$ 143.50", "$ 152.60" ], [ "december 31 2016", "$ 130.80", "$ 145.60", "$ 170.80" ], [ "december 31 2017", "$ 156.80", "$ 172.70", "$ 208.10" ] ]

[ { "arg1": "156.80", "arg2": "const_100", "op": "minus1-1", "res": "56.80" }, { "arg1": "#0", "arg2": "const_100", "op": "divide1-2", "res": "56.80%" } ]

[ "item 7a quantitative and qualitative disclosures about market risk we are exposed to market risk stemming from changes in interest rates , foreign exchange rates , commodity prices and equity prices .", "changes in these factors could cause fluctuations in our earnings and cash flows .", "in the normal course of business , we actively manage our exposure to these market risks by entering into various hedging trans- actions , authorized under our policies that place clear controls on these activities .", "the counterparties in these transactions are generally highly rated institutions .", "we establish credit limits for each counterparty .", "our hedging transactions include but are not limited to a variety of deriv- ative financial instruments .", "interest rates we manage our debt structure and our interest rate risk through the use of fixed- and floating-rate debt and derivatives .", "we use interest rate swaps and forward-starting interest rate swaps to hedge our exposure to interest rate changes and to reduce volatility of our financing costs .", "generally under these swaps , we agree with a counterparty to exchange the difference between fixed- rate and floating-rate interest amounts based on an agreed notional principal amount .", "our primary exposure is to u.s .", "interest rates .", "as of may 28 , 2006 , we had $ 7.0 billion of aggregate notional principal amount ( the principal amount on which the fixed or floating interest rate is calculated ) outstanding .", "this includes notional amounts of offsetting swaps that neutralize our exposure to interest rates on other interest rate swaps .", "see note six to the consolidated finan- cial statements on pages 40 through 42 in item eight of this report .", "foreign currency rates foreign currency fluctuations can affect our net investments and earnings denominated in foreign currencies .", "we primarily use foreign currency forward contracts and option contracts to selectively hedge our cash flow exposure to changes in exchange rates .", "these contracts function as hedges , since they change in value inversely to the change created in the underlying exposure as foreign exchange rates fluctuate .", "our primary u.s .", "dollar exchange rate exposures are with the canadian dollar , the euro , the australian dollar , the mexican peso and the british pound .", "commodities many commodities we use in the produc- tion and distribution of our products are exposed to market price risks .", "we manage this market risk through an inte- grated set of financial instruments , including purchase orders , noncancelable contracts , futures contracts , options and swaps .", "our primary commodity price exposures are to cereal grains , sugar , dairy products , vegetables , fruits , meats , vegetable oils , and other agricultural products , as well as paper and plastic packaging materials , operating supplies and energy .", "equity instruments equity price movements affect our compensation expense as certain investments owned by our employees are revalued .", "we use equity swaps to manage this market risk .", "value at risk these estimates are intended to measure the maximum potential fair value we could lose in one day from adverse changes in market interest rates , foreign exchange rates , commodity prices , or equity prices under normal market conditions .", "a monte carlo ( var ) method- ology was used to quantify the market risk for our exposures .", "the models assumed normal market conditions and used a 95 percent confidence level .", "the var calculation used historical interest rates , foreign exchange rates and commodity and equity prices from the past year to estimate the potential volatility and correlation of these rates in the future .", "the market data were drawn from the riskmetricstm data set .", "the calculations are not intended to represent actual losses in fair value that we expect to incur .", "further , since the hedging instrument ( the derivative ) inversely correlates with the underlying expo- sure , we would expect that any loss or gain in the fair value of our derivatives would be generally offset by an increase or decrease in the fair value of the underlying exposures .", "the positions included in the calculations were : debt ; invest- ments ; interest rate swaps ; foreign exchange forwards ; commodity swaps , futures and options ; and equity instru- ments .", "the calculations do not include the underlying foreign exchange and commodities-related positions that are hedged by these market-risk-sensitive instruments .", "the table below presents the estimated maximum poten- tial one-day loss in fair value for our interest rate , foreign currency , commodity and equity market-risk-sensitive instruments outstanding on may 28 , 2006 and may 29 , 2005 , and the average amount outstanding during the year ended may 28 , 2006 .", "the amounts were calculated using the var methodology described above. ." ]

[ "." ]

[ [ "", "Fair Value Impact" ], [ "In Millions", "May 28,2006", "Averageduring2006", "May 29,2005" ], [ "Interest rate instruments", "$8", "$10", "$18" ], [ "Foreign currency instruments", "2", "1", "1" ], [ "Commodity instruments", "2", "2", "1" ], [ "Equity instruments", "1", "1", "–" ] ]

[ [ "in millions", "fair value impact may 282006", "fair value impact averageduring2006", "fair value impact may 292005" ], [ "interest rate instruments", "$ 8", "$ 10", "$ 18" ], [ "foreign currency instruments", "2", "1", "1" ], [ "commodity instruments", "2", "2", "1" ], [ "equity instruments", "1", "1", "2013" ] ]

[ { "arg1": "8", "arg2": "2", "op": "add1-1", "res": "10" }, { "arg1": "#0", "arg2": "2", "op": "add1-2", "res": "12" }, { "arg1": "#1", "arg2": "1", "op": "add1-3", "res": "13" } ]

[ "equity compensation plan information the plan documents for the plans described in the footnotes below are included as exhibits to this form 10-k , and are incorporated herein by reference in their entirety .", "the following table provides information as of dec .", "31 , 2006 regarding the number of shares of ppg common stock that may be issued under ppg 2019s equity compensation plans .", "plan category securities exercise of outstanding options , warrants and rights weighted- average exercise price of outstanding warrants and rights number of securities remaining available for future issuance under equity compensation ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) 9413216 $ 58.35 10265556 equity compensation plans not approved by security holders ( 2 ) , ( 3 ) 2089300 $ 70.00 2014 ." ]

[ "( 1 ) equity compensation plans approved by security holders include the ppg industries , inc .", "stock plan , the ppg omnibus plan , the ppg industries , inc .", "executive officers 2019 long term incentive plan , and the ppg industries inc .", "long term incentive plan .", "( 2 ) equity compensation plans not approved by security holders include the ppg industries , inc .", "challenge 2000 stock plan .", "this plan is a broad- based stock option plan under which the company granted to substantially all active employees of the company and its majority owned subsidiaries on july 1 , 1998 , the option to purchase 100 shares of the company 2019s common stock at its then fair market value of $ 70.00 per share .", "options became exercisable on july 1 , 2003 , and expire on june 30 , 2008 .", "there were 2089300 shares issuable upon exercise of options outstanding under this plan as of dec .", "31 , 2006 .", "( 3 ) excluded from the information presented here are common stock equivalents held under the ppg industries , inc .", "deferred compensation plan , the ppg industries , inc .", "deferred compensation plan for directors and the ppg industries , inc .", "directors 2019 common stock plan , none of which are equity compensation plans .", "as supplemental information , there were 491168 common stock equivalents held under such plans as of dec .", "31 , 2006 .", "item 6 .", "selected financial data the information required by item 6 regarding the selected financial data for the five years ended dec .", "31 , 2006 is included in exhibit 99.2 filed with this form 10-k and is incorporated herein by reference .", "this information is also reported in the eleven-year digest on page 72 of the annual report under the captions net sales , income ( loss ) before accounting changes , cumulative effect of accounting changes , net income ( loss ) , earnings ( loss ) per common share before accounting changes , cumulative effect of accounting changes on earnings ( loss ) per common share , earnings ( loss ) per common share , earnings ( loss ) per common share 2013 assuming dilution , dividends per share , total assets and long-term debt for the years 2002 through 2006 .", "item 7 .", "management 2019s discussion and analysis of financial condition and results of operations performance in 2006 compared with 2005 performance overview our sales increased 8% ( 8 % ) to $ 11.0 billion in 2006 compared to $ 10.2 billion in 2005 .", "sales increased 4% ( 4 % ) due to the impact of acquisitions , 2% ( 2 % ) due to increased volumes , and 2% ( 2 % ) due to increased selling prices .", "cost of sales as a percentage of sales increased slightly to 63.7% ( 63.7 % ) compared to 63.5% ( 63.5 % ) in 2005 .", "selling , general and administrative expense increased slightly as a percentage of sales to 17.9% ( 17.9 % ) compared to 17.4% ( 17.4 % ) in 2005 .", "these costs increased primarily due to higher expenses related to store expansions in our architectural coatings operating segment and increased advertising to promote growth in our optical products operating segment .", "other charges decreased $ 81 million in 2006 .", "other charges in 2006 included pretax charges of $ 185 million for estimated environmental remediation costs at sites in new jersey and $ 42 million for legal settlements offset in part by pretax earnings of $ 44 million for insurance recoveries related to the marvin legal settlement and to hurricane rita .", "other charges in 2005 included pretax charges of $ 132 million related to the marvin legal settlement net of related insurance recoveries of $ 18 million , $ 61 million for the federal glass class action antitrust legal settlement , $ 34 million of direct costs related to the impact of hurricanes rita and katrina , $ 27 million for an asset impairment charge in our fine chemicals operating segment and $ 19 million for debt refinancing costs .", "other earnings increased $ 30 million in 2006 due to higher equity earnings , primarily from our asian fiber glass joint ventures , and higher royalty income .", "net income and earnings per share 2013 assuming dilution for 2006 were $ 711 million and $ 4.27 , respectively , compared to $ 596 million and $ 3.49 , respectively , for 2005 .", "net income in 2006 included aftertax charges of $ 106 million , or 64 cents a share , for estimated environmental remediation costs at sites in new jersey and louisiana in the third quarter ; $ 26 million , or 15 cents a share , for legal settlements ; $ 23 million , or 14 cents a share for business restructuring ; $ 17 million , or 10 cents a share , to reflect the net increase in the current value of the company 2019s obligation relating to asbestos claims under the ppg settlement arrangement ; and aftertax earnings of $ 24 million , or 14 cents a share for insurance recoveries .", "net income in 2005 included aftertax charges of $ 117 million , or 68 cents a share for legal settlements net of insurance ; $ 21 million , or 12 cents a share for direct costs related to the impact of hurricanes katrina and rita ; $ 17 million , or 10 cents a share , related to an asset impairment charge related to our fine chemicals operating segment ; $ 12 million , or 7 cents a share , for debt refinancing cost ; and $ 13 million , or 8 cents a share , to reflect the net increase in the current 2006 ppg annual report and form 10-k 19 4282_txt to be issued options , number of ." ]

[ [ "<i>Plan category</i>", "<i>Numberof securities to be issued upon exercise of outstanding options, warrants and rights</i> <i></i> <i></i> ( <i></i> a <i></i> ) <i></i>", "<i></i> Weighted- average exercise price of outstanding options, warrants and rights <i></i> <i>(b)</i>", "<i>Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))</i> <i></i> <i></i> (c) <i></i>" ], [ "Equity compensation plans approved by security holders⁽¹⁾", "9,413,216", "$58.35", "10,265,556" ], [ "Equity compensation plans not approved by security holders^{(2), (3)}", "2,089,300", "$70.00", "—" ], [ "Total", "11,502,516", "$60.57", "10,265,556" ] ]

[ [ "plan category", "numberof securities to be issued upon exercise of outstanding options warrants and rights ( a )", "weighted- average exercise price of outstanding options warrants and rights ( b )", "number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )" ], [ "equity compensation plans approved by security holders ( 1 )", "9413216", "$ 58.35", "10265556" ], [ "equity compensation plans not approved by security holders ( 2 ) ( 3 )", "2089300", "$ 70.00", "2014" ], [ "total", "11502516", "$ 60.57", "10265556" ] ]

[ { "arg1": "4.27", "arg2": "3.49", "op": "minus1-1", "res": ".78" }, { "arg1": "#0", "arg2": "3.49", "op": "divide1-2", "res": "22%" } ]

[ "the company recorded equity earnings , net of taxes , related to ilim of $ 290 million in 2018 , compared with earnings of $ 183 million in 2017 , and $ 199 million in 2016 .", "operating results recorded in 2018 included an after-tax non-cash foreign exchange loss of $ 82 million , compared with an after-tax foreign exchange gain of $ 15 million in 2017 and an after-tax foreign exchange gain of $ 25 million in 2016 , primarily on the remeasurement of ilim's u.s .", "dollar denominated net debt .", "ilim delivered outstanding performance in 2018 , driven largely by higher price realization and strong demand .", "sales volumes for the joint venture increased year over year for shipments to china of softwood pulp and linerboard , but were offset by decreased sales of hardwood pulp to china .", "sales volumes in the russian market increased for softwood pulp and hardwood pulp , but decreased for linerboard .", "average sales price realizations were significantly higher in 2018 for sales of softwood pulp , hardwood pulp and linerboard to china and other export markets .", "average sales price realizations in russian markets increased year over year for all products .", "input costs were higher in 2018 , primarily for wood , fuel and chemicals .", "distribution costs were negatively impacted by tariffs and inflation .", "the company received cash dividends from the joint venture of $ 128 million in 2018 , $ 133 million in 2017 and $ 58 million in entering the first quarter of 2019 , sales volumes are expected to be lower than in the fourth quarter of 2018 , due to the seasonal slowdown in china and fewer trading days .", "based on pricing to date in the current quarter , average sales prices are expected to decrease for hardwood pulp , softwood pulp and linerboard to china .", "input costs are projected to be relatively flat , while distribution costs are expected to increase .", "equity earnings - gpip international paper recorded equity earnings of $ 46 million on its 20.5% ( 20.5 % ) ownership position in gpip in 2018 .", "the company received cash dividends from the investment of $ 25 million in 2018 .", "liquidity and capital resources overview a major factor in international paper 2019s liquidity and capital resource planning is its generation of operating cash flow , which is highly sensitive to changes in the pricing and demand for our major products .", "while changes in key cash operating costs , such as energy , raw material , mill outage and transportation costs , do have an effect on operating cash generation , we believe that our focus on pricing and cost controls has improved our cash flow generation over an operating cycle .", "cash uses during 2018 were primarily focused on working capital requirements , capital spending , debt reductions and returning cash to shareholders through dividends and share repurchases under the company's share repurchase program .", "cash provided by operating activities cash provided by operations , including discontinued operations , totaled $ 3.2 billion in 2018 , compared with $ 1.8 billion for 2017 , and $ 2.5 billion for 2016 .", "cash used by working capital components ( accounts receivable , contract assets and inventory less accounts payable and accrued liabilities , interest payable and other ) totaled $ 439 million in 2018 , compared with cash used by working capital components of $ 402 million in 2017 , and cash provided by working capital components of $ 71 million in 2016 .", "investment activities including discontinued operations , investment activities in 2018 increased from 2017 , as 2018 included higher capital spending .", "in 2016 , investment activity included the purchase of weyerhaeuser's pulp business for $ 2.2 billion in cash , the purchase of the holmen business for $ 57 million in cash , net of cash acquired , and proceeds from the sale of the asia packaging business of $ 108 million , net of cash divested .", "the company maintains an average capital spending target around depreciation and amortization levels , or modestly above , due to strategic plans over the course of an economic cycle .", "capital spending was $ 1.6 billion in 2018 , or 118% ( 118 % ) of depreciation and amortization , compared with $ 1.4 billion in 2017 , or 98% ( 98 % ) of depreciation and amortization , and $ 1.3 billion , or 110% ( 110 % ) of depreciation and amortization in 2016 .", "across our segments , capital spending as a percentage of depreciation and amortization ranged from 69.8% ( 69.8 % ) to 132.1% ( 132.1 % ) in 2018 .", "the following table shows capital spending for operations by business segment for the years ended december 31 , 2018 , 2017 and 2016 , excluding amounts related to discontinued operations of $ 111 million in 2017 and $ 107 million in 2016. ." ]

[ "capital expenditures in 2019 are currently expected to be about $ 1.4 billion , or 104% ( 104 % ) of depreciation and amortization , including approximately $ 400 million of strategic investments. ." ]

[ [ "In millions", "2018", "2017", "2016" ], [ "Industrial Packaging", "$1,061", "$836", "$832" ], [ "Global Cellulose Fibers", "183", "188", "174" ], [ "Printing Papers", "303", "235", "215" ], [ "Subtotal", "1,547", "1,259", "1,221" ], [ "Corporate and other", "25", "21", "20" ], [ "Capital Spending", "$1,572", "$1,280", "$1,241" ] ]

[ [ "in millions", "2018", "2017", "2016" ], [ "industrial packaging", "$ 1061", "$ 836", "$ 832" ], [ "global cellulose fibers", "183", "188", "174" ], [ "printing papers", "303", "235", "215" ], [ "subtotal", "1547", "1259", "1221" ], [ "corporate and other", "25", "21", "20" ], [ "capital spending", "$ 1572", "$ 1280", "$ 1241" ] ]

[ { "arg1": "1061", "arg2": "836", "op": "minus2-1", "res": "225" }, { "arg1": "#0", "arg2": "836", "op": "divide2-2", "res": "27%" } ]

[ "we cannot assure you that the gener restructuring will be completed or that the terms thereof will not be changed materially .", "in addition , gener is in the process of restructuring the debt of its subsidiaries , termoandes s.a .", "( 2018 2018termoandes 2019 2019 ) and interandes , s.a .", "( 2018 2018interandes 2019 2019 ) , and expects that the maturities of these obligations will be extended .", "under-performing businesses during 2003 we sold or discontinued under-performing businesses and construction projects that did not meet our investment criteria or did not provide reasonable opportunities to restructure .", "it is anticipated that there will be less ongoing activity related to write-offs of development or construction projects and impairment charges in the future .", "the businesses , which were affected in 2003 , are listed below .", "impairment project name project type date location ( in millions ) ." ]

[ "( 1 ) see note 4 2014discontinued operations .", "improving credit quality our de-leveraging efforts reduced parent level debt by $ 1.2 billion in 2003 ( including the secured equity-linked loan previously issued by aes new york funding l.l.c. ) .", "we refinanced and paid down near-term maturities by $ 3.5 billion and enhanced our year-end liquidity to over $ 1 billion .", "our average debt maturity was extended from 2009 to 2012 .", "at the subsidiary level we continue to pursue limited recourse financing to reduce parent credit risk .", "these factors resulted in an overall reduced cost of capital , improved credit statistics and expanded access to credit at both aes and our subsidiaries .", "liquidity at the aes parent level is an important factor for the rating agencies in determining whether the company 2019s credit quality should improve .", "currency and political risk tend to be biggest variables to sustaining predictable cash flow .", "the nature of our large contractual and concession-based cash flow from these businesses serves to mitigate these variables .", "in 2003 , over 81% ( 81 % ) of cash distributions to the parent company were from u.s .", "large utilities and worldwide contract generation .", "on february 4 , 2004 , we called for redemption of $ 155049000 aggregate principal amount of outstanding 8% ( 8 % ) senior notes due 2008 , which represents the entire outstanding principal amount of the 8% ( 8 % ) senior notes due 2008 , and $ 34174000 aggregate principal amount of outstanding 10% ( 10 % ) secured senior notes due 2005 .", "the 8% ( 8 % ) senior notes due 2008 and the 10% ( 10 % ) secured senior notes due 2005 were redeemed on march 8 , 2004 at a redemption price equal to 100% ( 100 % ) of the principal amount plus accrued and unpaid interest to the redemption date .", "the mandatory redemption of the 10% ( 10 % ) secured senior notes due 2005 was being made with a portion of our 2018 2018adjusted free cash flow 2019 2019 ( as defined in the indenture pursuant to which the notes were issued ) for the fiscal year ended december 31 , 2003 as required by the indenture and was made on a pro rata basis .", "on february 13 , 2004 we issued $ 500 million of unsecured senior notes .", "the unsecured senior notes mature on march 1 , 2014 and are callable at our option at any time at a redemption price equal to 100% ( 100 % ) of the principal amount of the unsecured senior notes plus a make-whole premium .", "the unsecured senior notes were issued at a price of 98.288% ( 98.288 % ) and pay interest semi-annually at an annual ." ]

[ [ "Project Name", "Project Type", "Date", "Location", "Impairment (in millions)" ], [ "Ede Este (1)", "Operating", "December 2003", "Dominican Republic", "$60" ], [ "Wolf Hollow", "Operating", "December 2003", "United States", "$120" ], [ "Granite Ridge", "Operating", "December 2003", "United States", "$201" ], [ "Colombia I", "Operating", "November 2003", "Colombia", "$19" ], [ "Zeg", "Construction", "December 2003", "Poland", "$23" ], [ "Bujagali", "Construction", "August 2003", "Uganda", "$76" ], [ "El Faro", "Construction", "April 2003", "Honduras", "$20" ] ]

[ [ "project name", "project type", "date", "location", "impairment ( in millions )" ], [ "ede este ( 1 )", "operating", "december 2003", "dominican republic", "$ 60" ], [ "wolf hollow", "operating", "december 2003", "united states", "$ 120" ], [ "granite ridge", "operating", "december 2003", "united states", "$ 201" ], [ "colombia i", "operating", "november 2003", "colombia", "$ 19" ], [ "zeg", "construction", "december 2003", "poland", "$ 23" ], [ "bujagali", "construction", "august 2003", "uganda", "$ 76" ], [ "el faro", "construction", "april 2003", "honduras", "$ 20" ] ]

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[ "system energy resources , inc .", "management's financial discussion and analysis with syndicated bank letters of credit .", "in december 2004 , system energy amended these letters of credit and they now expire in may 2009 .", "system energy may refinance or redeem debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .", "all debt and common stock issuances by system energy require prior regulatory approval .", "debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements .", "system energy has sufficient capacity under these tests to meet its foreseeable capital needs .", "system energy has obtained a short-term borrowing authorization from the ferc under which it may borrow , through march 31 , 2010 , up to the aggregate amount , at any one time outstanding , of $ 200 million .", "see note 4 to the financial statements for further discussion of system energy's short-term borrowing limits .", "system energy has also obtained an order from the ferc authorizing long-term securities issuances .", "the current long- term authorization extends through june 2009 .", "system energy's receivables from the money pool were as follows as of december 31 for each of the following years: ." ]

[ "in may 2007 , $ 22.5 million of system energy's receivable from the money pool was replaced by a note receivable from entergy new orleans .", "see note 4 to the financial statements for a description of the money pool .", "nuclear matters system energy owns and operates grand gulf .", "system energy is , therefore , subject to the risks related to owning and operating a nuclear plant .", "these include risks from the use , storage , handling and disposal of high-level and low-level radioactive materials , regulatory requirement changes , including changes resulting from events at other plants , limitations on the amounts and types of insurance commercially available for losses in connection with nuclear operations , and technological and financial uncertainties related to decommissioning nuclear plants at the end of their licensed lives , including the sufficiency of funds in decommissioning trusts .", "in the event of an unanticipated early shutdown of grand gulf , system energy may be required to provide additional funds or credit support to satisfy regulatory requirements for decommissioning .", "environmental risks system energy's facilities and operations are subject to regulation by various governmental authorities having jurisdiction over air quality , water quality , control of toxic substances and hazardous and solid wastes , and other environmental matters .", "management believes that system energy is in substantial compliance with environmental regulations currently applicable to its facilities and operations .", "because environmental regulations are subject to change , future compliance costs cannot be precisely estimated .", "critical accounting estimates the preparation of system energy's financial statements in conformity with generally accepted accounting principles requires management to apply appropriate accounting policies and to make estimates and judgments that ." ]

[ [ "2008", "2007", "2006", "2005" ], [ "(In Thousands)" ], [ "$42,915", "$53,620", "$88,231", "$277,287" ] ]

[ [ "2008", "2007", "2006", "2005" ], [ "( in thousands )", "( in thousands )", "( in thousands )", "( in thousands )" ], [ "$ 42915", "$ 53620", "$ 88231", "$ 277287" ] ]

[ { "arg1": "53620", "arg2": "42915", "op": "minus2-1", "res": "-10705" }, { "arg1": "#0", "arg2": "42915", "op": "divide2-2", "res": "-19.9%" } ]

[ "net unfunded credit commitments ." ]

[ "commitments to extend credit represent arrangements to lend funds subject to specified contractual conditions .", "at december 31 , 2007 , commercial commitments are reported net of $ 8.9 billion of participations , assignments and syndications , primarily to financial services companies .", "the comparable amount at december 31 , 2006 was $ 8.3 billion .", "commitments generally have fixed expiration dates , may require payment of a fee , and contain termination clauses in the event the customer 2019s credit quality deteriorates .", "based on our historical experience , most commitments expire unfunded , and therefore cash requirements are substantially less than the total commitment .", "consumer home equity lines of credit accounted for 80% ( 80 % ) of consumer unfunded credit commitments .", "unfunded credit commitments related to market street totaled $ 8.8 billion at december 31 , 2007 and $ 5.6 billion at december 31 , 2006 and are included in the preceding table primarily within the 201ccommercial 201d and 201cconsumer 201d categories .", "note 24 commitments and guarantees includes information regarding standby letters of credit and bankers 2019 acceptances .", "at december 31 , 2007 , the largest industry concentration was for general medical and surgical hospitals , which accounted for approximately 5% ( 5 % ) of the total letters of credit and bankers 2019 acceptances .", "at december 31 , 2007 , we pledged $ 1.6 billion of loans to the federal reserve bank ( 201cfrb 201d ) and $ 33.5 billion of loans to the federal home loan bank ( 201cfhlb 201d ) as collateral for the contingent ability to borrow , if necessary .", "certain directors and executive officers of pnc and its subsidiaries , as well as certain affiliated companies of these directors and officers , were customers of and had loans with subsidiary banks in the ordinary course of business .", "all such loans were on substantially the same terms , including interest rates and collateral , as those prevailing at the time for comparable transactions with other customers and did not involve more than a normal risk of collectibility or present other unfavorable features .", "the aggregate principal amounts of these loans were $ 13 million at december 31 , 2007 and $ 18 million at december 31 , 2006 .", "during 2007 , new loans of $ 48 million were funded and repayments totaled $ 53 million. ." ]

[ [ "December 31 - in millions", "2007", "2006" ], [ "Commercial", "$39,171", "$31,009" ], [ "Consumer", "10,875", "10,495" ], [ "Commercial real estate", "2,734", "2,752" ], [ "Other", "567", "579" ], [ "Total", "$53,347", "$44,835" ] ]

[ [ "december 31 - in millions", "2007", "2006" ], [ "commercial", "$ 39171", "$ 31009" ], [ "consumer", "10875", "10495" ], [ "commercial real estate", "2734", "2752" ], [ "other", "567", "579" ], [ "total", "$ 53347", "$ 44835" ] ]

[]

[ "notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have guaranteed certain obligations of our subsidiaries relating principally to operating leases and uncommitted lines of credit of certain subsidiaries .", "as of december 31 , 2018 and 2017 , the amount of parent company guarantees on lease obligations was $ 824.5 and $ 829.2 , respectively , the amount of parent company guarantees primarily relating to uncommitted lines of credit was $ 349.1 and $ 308.8 , respectively , and the amount of parent company guarantees related to daylight overdrafts , primarily utilized to manage intra-day overdrafts due to timing of transactions under cash pooling arrangements without resulting in incremental borrowings , was $ 207.8 and $ 182.2 , respectively .", "in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee .", "as of december 31 , 2018 , there were no material assets pledged as security for such parent company guarantees .", "contingent acquisition obligations the following table details the estimated future contingent acquisition obligations payable in cash as of december 31 ." ]

[ "1 we have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions .", "the estimated amounts listed would be paid in the event of exercise at the earliest exercise date .", "we have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of december 31 , 2018 .", "these estimated payments of $ 24.9 are included within the total payments expected to be made in 2019 , and will continue to be carried forward into 2020 or beyond until exercised or expired .", "redeemable noncontrolling interests are included in the table at current exercise price payable in cash , not at applicable redemption value , in accordance with the authoritative guidance for classification and measurement of redeemable securities .", "the majority of these payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revision in accordance with the terms of the respective agreements .", "see note 5 for further information relating to the payment structure of our acquisitions .", "legal matters we are involved in various legal proceedings , and subject to investigations , inspections , audits , inquiries and similar actions by governmental authorities arising in the normal course of business .", "the types of allegations that arise in connection with such legal proceedings vary in nature , but can include claims related to contract , employment , tax and intellectual property matters .", "we evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount , or potential range , of loss can be reasonably estimated .", "in certain cases , we cannot reasonably estimate the potential loss because , for example , the litigation is in its early stages .", "while any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty , management believes that the outcome of these matters , individually and in the aggregate , will not have a material adverse effect on our financial condition , results of operations or cash flows .", "as previously disclosed , on april 10 , 2015 , a federal judge in brazil authorized the search of the records of an agency 2019s offices in s e3o paulo and brasilia , in connection with an ongoing investigation by brazilian authorities involving payments potentially connected to local government contracts .", "the company had previously investigated the matter and taken a number of remedial and disciplinary actions .", "the company has been in the process of concluding a settlement related to these matters with government agencies , and that settlement was fully executed in april 2018 .", "the company has previously provided for such settlement in its consolidated financial statements. ." ]

[ [ "", "2019", "2020", "2021", "2022", "2023", "Thereafter", "Total" ], [ "Deferred acquisition payments", "$65.7", "$20.0", "$23.6", "$4.7", "$10.2", "$2.7", "$126.9" ], [ "Redeemable noncontrolling interests and call options with affiliates¹", "30.1", "30.6", "42.9", "5.7", "3.5", "2.5", "115.3" ], [ "Total contingent acquisition payments", "$95.8", "$50.6", "$66.5", "$10.4", "$13.7", "$5.2", "$242.2" ] ]

[ [ "", "2019", "2020", "2021", "2022", "2023", "thereafter", "total" ], [ "deferred acquisition payments", "$ 65.7", "$ 20.0", "$ 23.6", "$ 4.7", "$ 10.2", "$ 2.7", "$ 126.9" ], [ "redeemable noncontrolling interests and call options with affiliates1", "30.1", "30.6", "42.9", "5.7", "3.5", "2.5", "115.3" ], [ "total contingent acquisition payments", "$ 95.8", "$ 50.6", "$ 66.5", "$ 10.4", "$ 13.7", "$ 5.2", "$ 242.2" ] ]

[ { "arg1": "65.7", "arg2": "126.9", "op": "divide1-1", "res": "0.5177" }, { "arg1": "#0", "arg2": "const_100", "op": "multiply1-2", "res": "51.77" } ]

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

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

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

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

[ { "arg1": "13.9", "arg2": "12.2", "op": "minus1-1", "res": "1.7" }, { "arg1": "#0", "arg2": "12.2", "op": "divide1-2", "res": "13.9%" } ]

[ "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" ] ]

[]

[ "part iii item 10 .", "directors , executive officers and corporate governance for the information required by this item 10 , other than information with respect to our executive officers contained at the end of item 1 of this report , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection 16 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference .", "the proxy statement for our 2015 annual meeting will be filed within 120 days of the close of our fiscal year .", "for the information required by this item 10 with respect to our executive officers , see part i of this report on pages 11 - 12 .", "item 11 .", "executive compensation for the information required by this item 11 , see 201cexecutive compensation , 201d 201ccompensation committee report on executive compensation 201d and 201ccompensation committee interlocks and insider participation 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference .", "item 12 .", "security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item 12 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference .", "the following table sets forth certain information as of december 31 , 2014 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1233672 $ 75.93 4903018 item 13 .", "certain relationships and related transactions , and director independence for the information required by this item 13 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference .", "item 14 .", "principal accounting fees and services for the information required by this item 14 , see 201caudit and non-audit fees 201d and 201cpolicy on audit committee pre- approval of audit and non-audit services of independent registered public accounting firm 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference. ." ]

[ "part iii item 10 .", "directors , executive officers and corporate governance for the information required by this item 10 , other than information with respect to our executive officers contained at the end of item 1 of this report , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection 16 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference .", "the proxy statement for our 2015 annual meeting will be filed within 120 days of the close of our fiscal year .", "for the information required by this item 10 with respect to our executive officers , see part i of this report on pages 11 - 12 .", "item 11 .", "executive compensation for the information required by this item 11 , see 201cexecutive compensation , 201d 201ccompensation committee report on executive compensation 201d and 201ccompensation committee interlocks and insider participation 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference .", "item 12 .", "security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item 12 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference .", "the following table sets forth certain information as of december 31 , 2014 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1233672 $ 75.93 4903018 item 13 .", "certain relationships and related transactions , and director independence for the information required by this item 13 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference .", "item 14 .", "principal accounting fees and services for the information required by this item 14 , see 201caudit and non-audit fees 201d and 201cpolicy on audit committee pre- approval of audit and non-audit services of independent registered public accounting firm 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference. ." ]

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[ "determined that it will primarily be subject to the ietu in future periods , and as such it has recorded tax expense of approximately $ 20 million in 2007 for the deferred tax effects of the new ietu system .", "as of december 31 , 2007 , the company had us federal net operating loss carryforwards of approximately $ 206 million which will begin to expire in 2023 .", "of this amount , $ 47 million relates to the pre-acquisition period and is subject to limitation .", "the remaining $ 159 million is subject to limitation as a result of the change in stock ownership in may 2006 .", "this limitation is not expected to have a material impact on utilization of the net operating loss carryforwards .", "the company also had foreign net operating loss carryforwards as of december 31 , 2007 of approximately $ 564 million for canada , germany , mexico and other foreign jurisdictions with various expiration dates .", "net operating losses in canada have various carryforward periods and began expiring in 2007 .", "net operating losses in germany have no expiration date .", "net operating losses in mexico have a ten year carryforward period and begin to expire in 2009 .", "however , these losses are not available for use under the new ietu tax regulations in mexico .", "as the ietu is the primary system upon which the company will be subject to tax in future periods , no deferred tax asset has been reflected in the balance sheet as of december 31 , 2007 for these income tax loss carryforwards .", "the company adopted the provisions of fin 48 effective january 1 , 2007 .", "fin 48 clarifies the accounting for income taxes by prescribing a minimum recognition threshold a tax benefit is required to meet before being recognized in the financial statements .", "fin 48 also provides guidance on derecognition , measurement , classification , interest and penalties , accounting in interim periods , disclosure and transition .", "as a result of the implementation of fin 48 , the company increased retained earnings by $ 14 million and decreased goodwill by $ 2 million .", "in addition , certain tax liabilities for unrecognized tax benefits , as well as related potential penalties and interest , were reclassified from current liabilities to long-term liabilities .", "liabilities for unrecognized tax benefits as of december 31 , 2007 relate to various us and foreign jurisdictions .", "a reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows : year ended december 31 , 2007 ( in $ millions ) ." ]

[ "included in the unrecognized tax benefits of $ 200 million as of december 31 , 2007 is $ 56 million of tax benefits that , if recognized , would reduce the company 2019s effective tax rate .", "the company recognizes interest and penalties related to unrecognized tax benefits in the provision for income taxes .", "as of december 31 , 2007 , the company has recorded a liability of approximately $ 36 million for interest and penalties .", "this amount includes an increase of approximately $ 13 million for the year ended december 31 , 2007 .", "the company operates in the united states ( including multiple state jurisdictions ) , germany and approximately 40 other foreign jurisdictions including canada , china , france , mexico and singapore .", "examinations are ongoing in a number of those jurisdictions including , most significantly , in germany for the years 2001 to 2004 .", "during the quarter ended march 31 , 2007 , the company received final assessments in germany for the prior examination period , 1997 to 2000 .", "the effective settlement of those examinations resulted in a reduction to goodwill of approximately $ 42 million with a net expected cash outlay of $ 29 million .", "the company 2019s celanese corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) %%transmsg*** transmitting job : y48011 pcn : 122000000 ***%%pcmsg|f-49 |00023|yes|no|02/26/2008 22:07|0|0|page is valid , no graphics -- color : d| ." ]

[ [ "", "Year Ended December 31, 2007 (In $ millions)" ], [ "Balance as of January 1, 2007", "193" ], [ "Increases in tax positions for the current year", "2" ], [ "Increases in tax positions for prior years", "28" ], [ "Decreases in tax positions of prior years", "(21)" ], [ "Settlements", "(2)" ], [ "Balance as of December 31, 2007", "200" ] ]

[ [ "", "year ended december 31 2007 ( in $ millions )" ], [ "balance as of january 1 2007", "193" ], [ "increases in tax positions for the current year", "2" ], [ "increases in tax positions for prior years", "28" ], [ "decreases in tax positions of prior years", "-21 ( 21 )" ], [ "settlements", "-2 ( 2 )" ], [ "balance as of december 31 2007", "200" ] ]

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[ "approximately $ 32 million of federal tax payments were deferred and paid in 2009 as a result of the allied acquisition .", "the following table summarizes the activity in our gross unrecognized tax benefits for the years ended december 31: ." ]

[ "new accounting guidance for business combinations became effective for our 2009 financial statements .", "this new guidance changed the treatment of acquired uncertain tax liabilities .", "under previous guidance , changes in acquired uncertain tax liabilities were recognized through goodwill .", "under the new guidance , subsequent changes in acquired unrecognized tax liabilities are recognized through the income tax provision .", "as of december 31 , 2010 , $ 206.5 million of the $ 222.8 million of unrecognized tax benefits related to tax positions taken by allied prior to the 2008 acquisition .", "included in the balance at december 31 , 2010 and 2009 are approximately $ 209.1 million and $ 217.6 million of unrecognized tax benefits ( net of the federal benefit on state issues ) that , if recognized , would affect the effective income tax rate in future periods .", "during 2010 , the irs concluded its examination of our 2005 and 2007 tax years .", "the conclusion of this examination reduced our gross unrecognized tax benefits by approximately $ 1.9 million .", "we also resolved various state matters during 2010 that , in the aggregate , reduced our gross unrecognized tax benefits by approximately $ 10.0 million .", "during 2009 , we settled our outstanding tax dispute related to allied 2019s risk management companies ( see 2013 risk management companies ) with both the department of justice ( doj ) and the internal revenue service ( irs ) .", "this settlement reduced our gross unrecognized tax benefits by approximately $ 299.6 million .", "during 2009 , we also settled with the irs , through an accounting method change , our outstanding tax dispute related to intercompany insurance premiums paid to allied 2019s captive insurance company .", "this settlement reduced our gross unrecognized tax benefits by approximately $ 62.6 million .", "in addition to these federal matters , we also resolved various state matters that , in the aggregate , reduced our gross unrecognized tax benefits during 2009 by approximately $ 5.8 million .", "we recognize interest and penalties as incurred within the provision for income taxes in our consolidated statements of income .", "related to the unrecognized tax benefits previously noted , we accrued interest of $ 19.2 million during 2010 and , in total as of december 31 , 2010 , have recognized a liability for penalties of $ 1.2 million and interest of $ 99.9 million .", "during 2009 , we accrued interest of $ 24.5 million and , in total at december 31 , 2009 , had recognized a liability for penalties of $ 1.5 million and interest of $ 92.3 million .", "during 2008 , we accrued penalties of $ 0.2 million and interest of $ 5.2 million and , in total at december 31 , 2008 , had recognized a liability for penalties of $ 88.1 million and interest of $ 180.0 million .", "republic services , inc .", "notes to consolidated financial statements , continued ." ]

[ [ "", "2010", "2009", "2008" ], [ "Balance at beginning of year", "$242.2", "$611.9", "$23.2" ], [ "Additions due to the Allied acquisition", "-", "13.3", "582.9" ], [ "Additions based on tax positions related to current year", "2.8", "3.9", "10.6" ], [ "Reductions for tax positions related to the current year", "-", "-", "(5.1)" ], [ "Additions for tax positions of prior years", "7.5", "5.6", "2.0" ], [ "Reductions for tax positions of prior years", "(7.4)", "(24.1)", "(1.3)" ], [ "Reductions for tax positions resulting from lapse of statute of limitations", "(10.4)", "(0.5)", "(0.4)" ], [ "Settlements", "(11.9)", "(367.9)", "-" ], [ "Balance at end of year", "$222.8", "$242.2", "$611.9" ] ]

[ [ "", "2010", "2009", "2008" ], [ "balance at beginning of year", "$ 242.2", "$ 611.9", "$ 23.2" ], [ "additions due to the allied acquisition", "-", "13.3", "582.9" ], [ "additions based on tax positions related to current year", "2.8", "3.9", "10.6" ], [ "reductions for tax positions related to the current year", "-", "-", "-5.1 ( 5.1 )" ], [ "additions for tax positions of prior years", "7.5", "5.6", "2.0" ], [ "reductions for tax positions of prior years", "-7.4 ( 7.4 )", "-24.1 ( 24.1 )", "-1.3 ( 1.3 )" ], [ "reductions for tax positions resulting from lapse of statute of limitations", "-10.4 ( 10.4 )", "-0.5 ( 0.5 )", "-0.4 ( 0.4 )" ], [ "settlements", "-11.9 ( 11.9 )", "-367.9 ( 367.9 )", "-" ], [ "balance at end of year", "$ 222.8", "$ 242.2", "$ 611.9" ] ]

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[ "table of contents the company uses some custom components that are not commonly used by its competitors , and new products introduced by the company often utilize custom components available from only one source .", "when a component or product uses new technologies , initial capacity constraints may exist until the suppliers 2019 yields have matured or manufacturing capacity has increased .", "if the company 2019s supply of components for a new or existing product were delayed or constrained , or if an outsourcing partner delayed shipments of completed products to the company , the company 2019s financial condition and operating results could be materially adversely affected .", "the company 2019s business and financial performance could also be materially adversely affected depending on the time required to obtain sufficient quantities from the original source , or to identify and obtain sufficient quantities from an alternative source .", "continued availability of these components at acceptable prices , or at all , may be affected if those suppliers concentrated on the production of common components instead of components customized to meet the company 2019s requirements .", "the company has entered into agreements for the supply of many components ; however , there can be no guarantee that the company will be able to extend or renew these agreements on similar terms , or at all .", "therefore , the company remains subject to significant risks of supply shortages and price increases that could materially adversely affect its financial condition and operating results .", "substantially all of the company 2019s hardware products are manufactured by outsourcing partners that are located primarily in asia .", "a significant concentration of this manufacturing is currently performed by a small number of outsourcing partners , often in single locations .", "certain of these outsourcing partners are the sole- sourced suppliers of components and manufacturers for many of the company 2019s products .", "although the company works closely with its outsourcing partners on manufacturing schedules , the company 2019s operating results could be adversely affected if its outsourcing partners were unable to meet their production commitments .", "the company 2019s purchase commitments typically cover its requirements for periods up to 150 days .", "other off-balance sheet commitments operating leases the company leases various equipment and facilities , including retail space , under noncancelable operating lease arrangements .", "the company does not currently utilize any other off-balance sheet financing arrangements .", "the major facility leases are typically for terms not exceeding 10 years and generally contain multi-year renewal options .", "as of september 26 , 2015 , the company had a total of 463 retail stores .", "leases for retail space are for terms ranging from five to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options .", "as of september 26 , 2015 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 6.3 billion , of which $ 3.6 billion related to leases for retail space .", "rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 794 million , $ 717 million and $ 645 million in 2015 , 2014 and 2013 , respectively .", "future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 26 , 2015 , are as follows ( in millions ) : ." ]

[ "other commitments the company utilizes several outsourcing partners to manufacture sub-assemblies for the company 2019s products and to perform final assembly and testing of finished products .", "these outsourcing partners acquire components and build product based on demand information supplied by the company , which typically covers periods up to 150 days .", "the company also obtains individual components for its products from a wide variety of individual suppliers .", "consistent with industry practice , the company acquires components through a combination of purchase orders , supplier contracts and open orders based on projected demand information .", "where appropriate , the purchases are applied to inventory component prepayments that are outstanding with the respective supplier .", "as of september 26 , 2015 , the company had outstanding off-balance sheet third-party manufacturing commitments and component purchase commitments of $ 29.5 billion .", "apple inc .", "| 2015 form 10-k | 65 ." ]

[ [ "2016", "$772" ], [ "2017", "774" ], [ "2018", "744" ], [ "2019", "715" ], [ "2020", "674" ], [ "Thereafter", "2,592" ], [ "Total", "$6,271" ] ]

[ [ "2016", "$ 772" ], [ "2017", "774" ], [ "2018", "744" ], [ "2019", "715" ], [ "2020", "674" ], [ "thereafter", "2592" ], [ "total", "$ 6271" ] ]

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[ "page 45 of 100 ball corporation and subsidiaries notes to consolidated financial statements 3 .", "acquisitions latapack-ball embalagens ltda .", "( latapack-ball ) in august 2010 , the company paid $ 46.2 million to acquire an additional 10.1 percent economic interest in its brazilian beverage packaging joint venture , latapack-ball , through a transaction with the joint venture partner , latapack s.a .", "this transaction increased the company 2019s overall economic interest in the joint venture to 60.1 percent and expands and strengthens ball 2019s presence in the growing brazilian market .", "as a result of the transaction , latapack-ball became a variable interest entity ( vie ) under consolidation accounting guidelines with ball being identified as the primary beneficiary of the vie and consolidating the joint venture .", "latapack-ball operates metal beverage packaging manufacturing plants in tres rios , jacarei and salvador , brazil and has been included in the metal beverage packaging , americas and asia , reporting segment .", "in connection with the acquisition , the company recorded a gain of $ 81.8 million on its previously held equity investment in latapack-ball as a result of required purchase accounting .", "the following table summarizes the final fair values of the latapack-ball assets acquired , liabilities assumed and non- controlling interest recognized , as well as the related investment in latapack s.a. , as of the acquisition date .", "the valuation was based on market and income approaches. ." ]

[ "noncontrolling interests $ ( 132.9 ) the customer relationships were identified as an intangible asset by the company and assigned an estimated life of 13.4 years .", "the intangible asset is being amortized on a straight-line basis .", "neuman aluminum ( neuman ) in july 2010 , the company acquired neuman for approximately $ 62 million in cash .", "neuman had sales of approximately $ 128 million in 2009 ( unaudited ) and is the leading north american manufacturer of aluminum slugs used to make extruded aerosol cans , beverage bottles , aluminum collapsible tubes and technical impact extrusions .", "neuman operates two plants , one in the united states and one in canada , which employ approximately 180 people .", "the acquisition of neuman is not material to the metal food and household products packaging , americas , segment , in which its results of operations have been included since the acquisition date .", "guangdong jianlibao group co. , ltd ( jianlibao ) in june 2010 , the company acquired jianlibao 2019s 65 percent interest in a joint venture metal beverage can and end plant in sanshui ( foshan ) , prc .", "ball has owned 35 percent of the joint venture plant since 1992 .", "ball acquired the 65 percent interest for $ 86.9 million in cash ( net of cash acquired ) and assumed debt , and also entered into a long-term supply agreement with jianlibao and one of its affiliates .", "the company recorded equity earnings of $ 24.1 million , which was composed of equity earnings and a gain realized on the fair value of ball 2019s previous 35 percent equity investment as a result of required purchase accounting .", "the purchase accounting was completed during the third quarter of 2010 .", "the acquisition of the remaining interest is not material to the metal beverage packaging , americas and asia , segment. ." ]

[ [ "Cash", "$69.3" ], [ "Current assets", "84.7" ], [ "Property, plant and equipment", "265.9" ], [ "Goodwill", "100.2" ], [ "Intangible asset", "52.8" ], [ "Current liabilities", "(53.2)" ], [ "Long-term liabilities", "(174.1)" ], [ "Net assets acquired", "$345.6" ], [ "Noncontrolling interests", "$(132.9)" ] ]

[ [ "cash", "$ 69.3" ], [ "current assets", "84.7" ], [ "property plant and equipment", "265.9" ], [ "goodwill", "100.2" ], [ "intangible asset", "52.8" ], [ "current liabilities", "-53.2 ( 53.2 )" ], [ "long-term liabilities", "-174.1 ( 174.1 )" ], [ "net assets acquired", "$ 345.6" ], [ "noncontrolling interests", "$ -132.9 ( 132.9 )" ] ]

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[ "accounts receivable , net october 31 , 2006 october 31 , 2005 dollar change change ." ]

[ "the increase in accounts receivable was primarily due to the increased billings during the fiscal year ended october 31 , 2006 .", "days sales outstanding ( dso ) was 39 days at october 31 , 2006 and 36 days at october 31 , 2005 .", "our accounts receivable and dso are primarily driven by our billing and collections activities .", "net working capital working capital is comprised of current assets less current liabilities , as shown on our balance sheet .", "as of october 31 , 2006 , our working capital was $ 23.4 million , compared to $ 130.6 million as of october 31 , 2005 .", "the decrease in net working capital of $ 107.2 million was primarily due to ( 1 ) a decrease of $ 73.7 million in cash and cash equivalents ; ( 2 ) a decrease of current deferred tax assets of $ 83.2 million , primarily due to a tax accounting method change ; ( 3 ) a decrease in income taxes receivable of $ 5.8 million ; ( 4 ) an increase in income taxes payable of $ 21.5 million ; ( 5 ) an increase in deferred revenue of $ 29.9 million ; and ( 6 ) a net increase of $ 2.8 million in accounts payable and other liabilities which included a reclassification of debt of $ 7.5 million from long term to short term debt .", "this decrease was partially offset by ( 1 ) an increase in short-term investments of $ 59.9 million ; ( 2 ) an increase in prepaid and other assets of $ 27.4 million , which includes land of $ 23.4 million reclassified from property plant and equipment to asset held for sale within prepaid expense and other assets on our consolidated balance sheet ; and ( 3 ) an increase in accounts receivable of $ 22.4 million .", "other commitments 2014revolving credit facility on october 20 , 2006 , we entered into a five-year , $ 300.0 million senior unsecured revolving credit facility providing for loans to synopsys and certain of its foreign subsidiaries .", "the facility replaces our previous $ 250.0 million senior unsecured credit facility , which was terminated effective october 20 , 2006 .", "the amount of the facility may be increased by up to an additional $ 150.0 million through the fourth year of the facility .", "the facility contains financial covenants requiring us to maintain a minimum leverage ratio and specified levels of cash , as well as other non-financial covenants .", "the facility terminates on october 20 , 2011 .", "borrowings under the facility bear interest at the greater of the administrative agent 2019s prime rate or the federal funds rate plus 0.50% ( 0.50 % ) ; however , we have the option to pay interest based on the outstanding amount at eurodollar rates plus a spread between 0.50% ( 0.50 % ) and 0.70% ( 0.70 % ) based on a pricing grid tied to a financial covenant .", "in addition , commitment fees are payable on the facility at rates between 0.125% ( 0.125 % ) and 0.175% ( 0.175 % ) per year based on a pricing grid tied to a financial covenant .", "as of october 31 , 2006 we had no outstanding borrowings under this credit facility and were in compliance with all the covenants .", "we believe that our current cash , cash equivalents , short-term investments , cash generated from operations , and available credit under our credit facility will satisfy our business requirements for at least the next twelve months. ." ]

[ [ "October 31, 2006", "October 31, 2005", "Dollar Change", "% Change" ], [ "(dollars in millions)", "", "" ], [ "$122.6", "$100.2", "$22.4", "22%" ] ]

[ [ "october 31 2006", "october 31 2005", "dollar change", "% ( % ) change" ], [ "( dollars in millions )", "( dollars in millions )", "", "" ], [ "$ 122.6", "$ 100.2", "$ 22.4", "22% ( 22 % )" ] ]

[]

[ "9 .", "junior subordinated debt securities payable in accordance with the provisions of the junior subordinated debt securities which were issued on march 29 , 2004 , holdings elected to redeem the $ 329897 thousand of 6.2% ( 6.2 % ) junior subordinated debt securities outstanding on may 24 , 2013 .", "as a result of the early redemption , the company incurred pre-tax expense of $ 7282 thousand related to the immediate amortization of the remaining capitalized issuance costs on the trust preferred securities .", "interest expense incurred in connection with these junior subordinated debt securities is as follows for the periods indicated: ." ]

[ "holdings considered the mechanisms and obligations relating to the trust preferred securities , taken together , constituted a full and unconditional guarantee by holdings of capital trust ii 2019s payment obligations with respect to their trust preferred securities .", "10 .", "reinsurance and trust agreements certain subsidiaries of group have established trust agreements , which effectively use the company 2019s investments as collateral , as security for assumed losses payable to certain non-affiliated ceding companies .", "at december 31 , 2015 , the total amount on deposit in trust accounts was $ 454384 thousand .", "on april 24 , 2014 , the company entered into two collateralized reinsurance agreements with kilimanjaro re limited ( 201ckilimanjaro 201d ) , a bermuda based special purpose reinsurer , to provide the company with catastrophe reinsurance coverage .", "these agreements are multi-year reinsurance contracts which cover specified named storm and earthquake events .", "the first agreement provides up to $ 250000 thousand of reinsurance coverage from named storms in specified states of the southeastern united states .", "the second agreement provides up to $ 200000 thousand of reinsurance coverage from named storms in specified states of the southeast , mid-atlantic and northeast regions of the united states and puerto rico as well as reinsurance coverage from earthquakes in specified states of the southeast , mid-atlantic , northeast and west regions of the united states , puerto rico and british columbia .", "on november 18 , 2014 , the company entered into a collateralized reinsurance agreement with kilimanjaro re to provide the company with catastrophe reinsurance coverage .", "this agreement is a multi-year reinsurance contract which covers specified earthquake events .", "the agreement provides up to $ 500000 thousand of reinsurance coverage from earthquakes in the united states , puerto rico and canada .", "on december 1 , 2015 the company entered into two collateralized reinsurance agreements with kilimanjaro re to provide the company with catastrophe reinsurance coverage .", "these agreements are multi-year reinsurance contracts which cover named storm and earthquake events .", "the first agreement provides up to $ 300000 thousand of reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .", "the second agreement provides up to $ 325000 thousand of reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .", "kilimanjaro has financed the various property catastrophe reinsurance coverage by issuing catastrophe bonds to unrelated , external investors .", "on april 24 , 2014 , kilimanjaro issued $ 450000 thousand of notes ( 201cseries 2014-1 notes 201d ) .", "on november 18 , 2014 , kilimanjaro issued $ 500000 thousand of notes ( 201cseries 2014-2 notes 201d ) .", "on december 1 , 2015 , kilimanjaro issued $ 625000 thousand of notes ( 201cseries 2015-1 notes ) .", "the proceeds from the issuance of the series 2014-1 notes , the series 2014-2 notes and the series 2015-1 notes are held in reinsurance trust throughout the duration of the applicable reinsurance agreements and invested solely in us government money market funds with a rating of at least 201caaam 201d by standard & poor 2019s. ." ]

[ [ "", "Years Ended December 31," ], [ "(Dollars in thousands)", "2015", "2014", "2013" ], [ "Interest expense incurred", "$-", "$-", "$8,181" ] ]

[ [ "( dollars in thousands )", "years ended december 31 , 2015", "years ended december 31 , 2014", "years ended december 31 , 2013" ], [ "interest expense incurred", "$ -", "$ -", "$ 8181" ] ]

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[ "liquidity and capital resources during the past three years , we had sufficient financial resources to meet our operating requirements , to fund our capital spending , share repurchases and pension plans and to pay increasing dividends to our shareholders .", "cash from operating activities was $ 1436 million , $ 1310 million , and $ 1345 million in 2011 , 2010 , and 2009 , respectively .", "higher earnings increased cash from operations in 2011 compared to 2010 , but the increase was reduced by cash used to fund an increase in working capital of $ 212 million driven by our sales growth in 2011 .", "cash provided by working capital was greater in 2009 than 2010 and that decline was more than offset by the cash from higher 2010 earnings .", "operating working capital is a subset of total working capital and represents ( 1 ) trade receivables-net of the allowance for doubtful accounts , plus ( 2 ) inventories on a first-in , first-out ( 201cfifo 201d ) basis , less ( 3 ) trade creditors 2019 liabilities .", "see note 3 , 201cworking capital detail 201d under item 8 of this form 10-k for further information related to the components of the company 2019s operating working capital .", "we believe operating working capital represents the key components of working capital under the operating control of our businesses .", "operating working capital at december 31 , 2011 and 2010 was $ 2.7 billion and $ 2.6 billion , respectively .", "a key metric we use to measure our working capital management is operating working capital as a percentage of sales ( fourth quarter sales annualized ) .", "( millions ) 2011 2010 operating working capital $ 2739 $ 2595 operating working capital as % ( % ) of sales 19.5% ( 19.5 % ) 19.2% ( 19.2 % ) the change in operating working capital elements , excluding the impact of currency and acquisitions , was an increase of $ 195 million during the year ended december 31 , 2011 .", "this increase was the net result of an increase in receivables from customers associated with the 2011 increase in sales and an increase in fifo inventory slightly offset by an increase in trade creditors 2019 liabilities .", "trade receivables from customers , net , as a percentage of fourth quarter sales , annualized , for 2011 was 17.9 percent , down slightly from 18.1 percent for 2010 .", "days sales outstanding was 66 days in 2011 , level with 2010 .", "inventories on a fifo basis as a percentage of fourth quarter sales , annualized , for 2011 was 13.1 percent level with 2010 .", "inventory turnover was 5.0 times in 2011 and 4.6 times in 2010 .", "total capital spending , including acquisitions , was $ 446 million , $ 341 million and $ 265 million in 2011 , 2010 , and 2009 , respectively .", "spending related to modernization and productivity improvements , expansion of existing businesses and environmental control projects was $ 390 million , $ 307 million and $ 239 million in 2011 , 2010 , and 2009 , respectively , and is expected to be in the range of $ 450-$ 550 million during 2012 .", "capital spending , excluding acquisitions , as a percentage of sales was 2.6% ( 2.6 % ) , 2.3% ( 2.3 % ) and 2.0% ( 2.0 % ) in 2011 , 2010 and 2009 , respectively .", "capital spending related to business acquisitions amounted to $ 56 million , $ 34 million , and $ 26 million in 2011 , 2010 and 2009 , respectively .", "we continue to evaluate acquisition opportunities and expect to use cash in 2012 to fund small to mid-sized acquisitions , as part of a balanced deployment of our cash to support growth in earnings .", "in january 2012 , the company closed the previously announced acquisitions of colpisa , a colombian producer of automotive oem and refinish coatings , and dyrup , a european architectural coatings company .", "the cost of these acquisitions , including assumed debt , was $ 193 million .", "dividends paid to shareholders totaled $ 355 million , $ 360 million and $ 353 million in 2011 , 2010 and 2009 , respectively .", "ppg has paid uninterrupted annual dividends since 1899 , and 2011 marked the 40th consecutive year of increased annual dividend payments to shareholders .", "we did not have a mandatory contribution to our u.s .", "defined benefit pension plans in 2011 ; however , we made voluntary contributions to these plans in 2011 totaling $ 50 million .", "in 2010 and 2009 , we made voluntary contributions to our u.s .", "defined benefit pension plans of $ 250 and $ 360 million ( of which $ 100 million was made in ppg stock ) , respectively .", "we expect to make voluntary contributions to our u.s .", "defined benefit pension plans in 2012 of up to $ 60 million .", "contributions were made to our non-u.s .", "defined benefit pension plans of $ 71 million , $ 87 million and $ 90 million ( of which approximately $ 20 million was made in ppg stock ) for 2011 , 2010 and 2009 , respectively , some of which were required by local funding requirements .", "we expect to make mandatory contributions to our non-u.s .", "plans in 2012 of approximately $ 90 million .", "the company 2019s share repurchase activity in 2011 , 2010 and 2009 was 10.2 million shares at a cost of $ 858 million , 8.1 million shares at a cost of $ 586 million and 1.5 million shares at a cost of $ 59 million , respectively .", "we expect to make share repurchases in 2012 as part of our cash deployment focused on earnings growth .", "the amount of spending will depend on the level of acquisition spending and other uses of cash , but we currently expect to spend in the range of $ 250 million to $ 500 million on share repurchases in 2012 .", "we can repurchase about 9 million shares under the current authorization from the board of directors .", "26 2011 ppg annual report and form 10-k ." ]

[ "liquidity and capital resources during the past three years , we had sufficient financial resources to meet our operating requirements , to fund our capital spending , share repurchases and pension plans and to pay increasing dividends to our shareholders .", "cash from operating activities was $ 1436 million , $ 1310 million , and $ 1345 million in 2011 , 2010 , and 2009 , respectively .", "higher earnings increased cash from operations in 2011 compared to 2010 , but the increase was reduced by cash used to fund an increase in working capital of $ 212 million driven by our sales growth in 2011 .", "cash provided by working capital was greater in 2009 than 2010 and that decline was more than offset by the cash from higher 2010 earnings .", "operating working capital is a subset of total working capital and represents ( 1 ) trade receivables-net of the allowance for doubtful accounts , plus ( 2 ) inventories on a first-in , first-out ( 201cfifo 201d ) basis , less ( 3 ) trade creditors 2019 liabilities .", "see note 3 , 201cworking capital detail 201d under item 8 of this form 10-k for further information related to the components of the company 2019s operating working capital .", "we believe operating working capital represents the key components of working capital under the operating control of our businesses .", "operating working capital at december 31 , 2011 and 2010 was $ 2.7 billion and $ 2.6 billion , respectively .", "a key metric we use to measure our working capital management is operating working capital as a percentage of sales ( fourth quarter sales annualized ) .", "( millions ) 2011 2010 operating working capital $ 2739 $ 2595 operating working capital as % ( % ) of sales 19.5% ( 19.5 % ) 19.2% ( 19.2 % ) the change in operating working capital elements , excluding the impact of currency and acquisitions , was an increase of $ 195 million during the year ended december 31 , 2011 .", "this increase was the net result of an increase in receivables from customers associated with the 2011 increase in sales and an increase in fifo inventory slightly offset by an increase in trade creditors 2019 liabilities .", "trade receivables from customers , net , as a percentage of fourth quarter sales , annualized , for 2011 was 17.9 percent , down slightly from 18.1 percent for 2010 .", "days sales outstanding was 66 days in 2011 , level with 2010 .", "inventories on a fifo basis as a percentage of fourth quarter sales , annualized , for 2011 was 13.1 percent level with 2010 .", "inventory turnover was 5.0 times in 2011 and 4.6 times in 2010 .", "total capital spending , including acquisitions , was $ 446 million , $ 341 million and $ 265 million in 2011 , 2010 , and 2009 , respectively .", "spending related to modernization and productivity improvements , expansion of existing businesses and environmental control projects was $ 390 million , $ 307 million and $ 239 million in 2011 , 2010 , and 2009 , respectively , and is expected to be in the range of $ 450-$ 550 million during 2012 .", "capital spending , excluding acquisitions , as a percentage of sales was 2.6% ( 2.6 % ) , 2.3% ( 2.3 % ) and 2.0% ( 2.0 % ) in 2011 , 2010 and 2009 , respectively .", "capital spending related to business acquisitions amounted to $ 56 million , $ 34 million , and $ 26 million in 2011 , 2010 and 2009 , respectively .", "we continue to evaluate acquisition opportunities and expect to use cash in 2012 to fund small to mid-sized acquisitions , as part of a balanced deployment of our cash to support growth in earnings .", "in january 2012 , the company closed the previously announced acquisitions of colpisa , a colombian producer of automotive oem and refinish coatings , and dyrup , a european architectural coatings company .", "the cost of these acquisitions , including assumed debt , was $ 193 million .", "dividends paid to shareholders totaled $ 355 million , $ 360 million and $ 353 million in 2011 , 2010 and 2009 , respectively .", "ppg has paid uninterrupted annual dividends since 1899 , and 2011 marked the 40th consecutive year of increased annual dividend payments to shareholders .", "we did not have a mandatory contribution to our u.s .", "defined benefit pension plans in 2011 ; however , we made voluntary contributions to these plans in 2011 totaling $ 50 million .", "in 2010 and 2009 , we made voluntary contributions to our u.s .", "defined benefit pension plans of $ 250 and $ 360 million ( of which $ 100 million was made in ppg stock ) , respectively .", "we expect to make voluntary contributions to our u.s .", "defined benefit pension plans in 2012 of up to $ 60 million .", "contributions were made to our non-u.s .", "defined benefit pension plans of $ 71 million , $ 87 million and $ 90 million ( of which approximately $ 20 million was made in ppg stock ) for 2011 , 2010 and 2009 , respectively , some of which were required by local funding requirements .", "we expect to make mandatory contributions to our non-u.s .", "plans in 2012 of approximately $ 90 million .", "the company 2019s share repurchase activity in 2011 , 2010 and 2009 was 10.2 million shares at a cost of $ 858 million , 8.1 million shares at a cost of $ 586 million and 1.5 million shares at a cost of $ 59 million , respectively .", "we expect to make share repurchases in 2012 as part of our cash deployment focused on earnings growth .", "the amount of spending will depend on the level of acquisition spending and other uses of cash , but we currently expect to spend in the range of $ 250 million to $ 500 million on share repurchases in 2012 .", "we can repurchase about 9 million shares under the current authorization from the board of directors .", "26 2011 ppg annual report and form 10-k ." ]

[ [ "<i>(Millions)</i>", "2011", "<i>2010</i>", "" ], [ "<i>Operating Working Capital</i>", "$2,739", "$2,595", "<i></i>" ], [ "<i>Operating Working Capital as % of Sales</i>", "19.5%", "19.2", "<i>%</i>" ] ]

[ [ "( millions )", "2011", "2010", "" ], [ "operating working capital", "$ 2739", "$ 2595", "" ], [ "operating working capital as % ( % ) of sales", "19.5% ( 19.5 % )", "19.2", "% ( % )" ] ]

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[ "jpmorgan chase & co .", "/ 2007 annual report 117 nonrecurring fair value changes the following table presents the total change in value of financial instruments for which a fair value adjustment has been included in the consolidated statement of income for the year ended december 31 , 2007 , related to financial instruments held at december 31 , 2007 .", "year ended december 31 , 2007 ( in millions ) 2007 ." ]

[ "in the above table , loans principally include changes in fair value for loans carried on the balance sheet at the lower of cost or fair value ; and accounts payable , accrued expense and other liabilities principally includes the change in fair value for unfunded lending-related commitments within the leveraged lending portfolio .", "level 3 assets analysis level 3 assets ( including assets measured at the lower of cost or fair value ) were 5% ( 5 % ) of total firm assets at december 31 , 2007 .", "these assets increased during 2007 principally during the second half of the year , when liquidity in mortgages and other credit products fell dra- matically .", "the increase was primarily due to an increase in leveraged loan balances within level 3 as the ability of the firm to syndicate this risk to third parties became limited by the credit environment .", "in addi- tion , there were transfers from level 2 to level 3 during 2007 .", "these transfers were principally for instruments within the mortgage market where inputs which are significant to their valuation became unob- servable during the year .", "subprime and alt-a whole loans , subprime home equity securities , commercial mortgage-backed mezzanine loans and credit default swaps referenced to asset-backed securities consti- tuted the majority of the affected instruments , reflecting a significant decline in liquidity in these instruments in the third and fourth quarters of 2007 , as new issue activity was nonexistent and independent pric- ing information was no longer available for these assets .", "transition in connection with the initial adoption of sfas 157 , the firm recorded the following on january 1 , 2007 : 2022 a cumulative effect increase to retained earnings of $ 287 million , primarily related to the release of profit previously deferred in accordance with eitf 02-3 ; 2022 an increase to pretax income of $ 166 million ( $ 103 million after-tax ) related to the incorporation of the firm 2019s creditworthiness in the valuation of liabilities recorded at fair value ; and 2022 an increase to pretax income of $ 464 million ( $ 288 million after-tax ) related to valuations of nonpublic private equity investments .", "prior to the adoption of sfas 157 , the firm applied the provisions of eitf 02-3 to its derivative portfolio .", "eitf 02-3 precluded the recogni- tion of initial trading profit in the absence of : ( a ) quoted market prices , ( b ) observable prices of other current market transactions or ( c ) other observable data supporting a valuation technique .", "in accor- dance with eitf 02-3 , the firm recognized the deferred profit in principal transactions revenue on a systematic basis ( typically straight- line amortization over the life of the instruments ) and when observ- able market data became available .", "prior to the adoption of sfas 157 the firm did not incorporate an adjustment into the valuation of liabilities carried at fair value on the consolidated balance sheet .", "commencing january 1 , 2007 , in accor- dance with the requirements of sfas 157 , an adjustment was made to the valuation of liabilities measured at fair value to reflect the credit quality of the firm .", "prior to the adoption of sfas 157 , privately held investments were initially valued based upon cost .", "the carrying values of privately held investments were adjusted from cost to reflect both positive and neg- ative changes evidenced by financing events with third-party capital providers .", "the investments were also subject to ongoing impairment reviews by private equity senior investment professionals .", "the increase in pretax income related to nonpublic private equity investments in connection with the adoption of sfas 157 was due to there being sufficient market evidence to support an increase in fair values using the sfas 157 methodology , although there had not been an actual third-party market transaction related to such investments .", "financial disclosures required by sfas 107 sfas 107 requires disclosure of the estimated fair value of certain financial instruments and the methods and significant assumptions used to estimate their fair values .", "many but not all of the financial instruments held by the firm are recorded at fair value on the consolidated balance sheets .", "financial instruments within the scope of sfas 107 that are not carried at fair value on the consolidated balance sheets are discussed below .", "additionally , certain financial instruments and all nonfinancial instruments are excluded from the scope of sfas 107 .", "accordingly , the fair value disclosures required by sfas 107 provide only a partial estimate of the fair value of jpmorgan chase .", "for example , the firm has developed long-term relationships with its customers through its deposit base and credit card accounts , commonly referred to as core deposit intangibles and credit card relationships .", "in the opinion of management , these items , in the aggregate , add significant value to jpmorgan chase , but their fair value is not disclosed in this note .", "financial instruments for which fair value approximates carrying value certain financial instruments that are not carried at fair value on the consolidated balance sheets are carried at amounts that approxi- mate fair value due to their short-term nature and generally negligi- ble credit risk .", "these instruments include cash and due from banks , deposits with banks , federal funds sold , securities purchased under resale agreements with short-dated maturities , securities borrowed , short-term receivables and accrued interest receivable , commercial paper , federal funds purchased , securities sold under repurchase agreements with short-dated maturities , other borrowed funds , accounts payable and accrued liabilities .", "in addition , sfas 107 requires that the fair value for deposit liabilities with no stated matu- rity ( i.e. , demand , savings and certain money market deposits ) be equal to their carrying value .", "sfas 107 does not allow for the recog- nition of the inherent funding value of these instruments. ." ]

[ [ "Year ended December 31, 2007(in millions)", "2007" ], [ "Loans", "$(720)" ], [ "Other assets", "(161)" ], [ "Accounts payable, accrued expense and other liabilities", "2" ], [ "Total nonrecurring fair value gains (losses)", "$(879)" ] ]

[ [ "year ended december 31 2007 ( in millions )", "2007" ], [ "loans", "$ -720 ( 720 )" ], [ "other assets", "-161 ( 161 )" ], [ "accounts payable accrued expense and other liabilities", "2" ], [ "total nonrecurring fair value gains ( losses )", "$ -879 ( 879 )" ] ]

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[ "table of contents company stock performance the following graph shows a comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the s&p information technology index and the dow jones u.s .", "technology supersector index for the five years ended september 26 , 2015 .", "the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p information technology index and the dow jones u.s .", "technology supersector index as of the market close on september 24 , 2010 .", "note that historic stock price performance is not necessarily indicative of future stock price performance .", "* $ 100 invested on 9/25/10 in stock or index , including reinvestment of dividends .", "data points are the last day of each fiscal year for the company 2019scommon stock and september 30th for indexes .", "copyright a9 2015 s&p , a division of mcgraw hill financial .", "all rights reserved .", "copyright a9 2015 dow jones & co .", "all rights reserved .", "september september september september september september ." ]

[ "apple inc .", "| 2015 form 10-k | 21 ." ]

[ [ "", "September 2010", "September 2011", "September 2012", "September 2013", "September 2014", "September 2015" ], [ "Apple Inc.", "$100", "$138", "$229", "$170", "$254", "$294" ], [ "S&P 500 Index", "$100", "$101", "$132", "$157", "$188", "$187" ], [ "S&P Information Technology Index", "$100", "$104", "$137", "$147", "$190", "$194" ], [ "Dow Jones U.S. Technology Supersector Index", "$100", "$103", "$134", "$141", "$183", "$183" ] ]

[ [ "", "september 2010", "september 2011", "september 2012", "september 2013", "september 2014", "september 2015" ], [ "apple inc .", "$ 100", "$ 138", "$ 229", "$ 170", "$ 254", "$ 294" ], [ "s&p 500 index", "$ 100", "$ 101", "$ 132", "$ 157", "$ 188", "$ 187" ], [ "s&p information technology index", "$ 100", "$ 104", "$ 137", "$ 147", "$ 190", "$ 194" ], [ "dow jones u.s . technology supersector index", "$ 100", "$ 103", "$ 134", "$ 141", "$ 183", "$ 183" ] ]

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[ "2006 plan prior to december 5 , 2008 became fully vested and nonforfeitable upon the closing of the acquisition .", "awards may be granted under the 2006 plan , as amended and restated , after december 5 , 2008 only to employees and consultants of allied waste industries , inc .", "and its subsidiaries who were not employed by republic services , inc .", "prior to such date .", "at december 31 , 2010 , there were approximately 15.3 million shares of common stock reserved for future grants under the 2006 plan .", "stock options we use a binomial option-pricing model to value our stock option grants .", "we recognize compensation expense on a straight-line basis over the requisite service period for each separately vesting portion of the award , or to the employee 2019s retirement eligible date , if earlier .", "expected volatility is based on the weighted average of the most recent one-year volatility and a historical rolling average volatility of our stock over the expected life of the option .", "the risk-free interest rate is based on federal reserve rates in effect for bonds with maturity dates equal to the expected term of the option .", "we use historical data to estimate future option exercises , forfeitures and expected life of the options .", "when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes .", "the weighted-average estimated fair values of stock options granted during the years ended december 31 , 2010 , 2009 and 2008 were $ 5.28 , $ 3.79 and $ 4.36 per option , respectively , which were calculated using the following weighted-average assumptions: ." ]

[ "republic services , inc .", "notes to consolidated financial statements , continued ." ]

[ [ "", "2010", "2009", "2008" ], [ "Expected volatility", "28.6%", "28.7%", "27.3%" ], [ "Risk-free interest rate", "2.4%", "1.4%", "1.7%" ], [ "Dividend yield", "2.9%", "3.1%", "2.9%" ], [ "Expected life (in years)", "4.3", "4.2", "4.2" ], [ "Contractual life (in years)", "7", "7", "7" ], [ "Expected forfeiture rate", "3.0%", "3.0%", "3.0%" ] ]

[ [ "", "2010", "2009", "2008" ], [ "expected volatility", "28.6% ( 28.6 % )", "28.7% ( 28.7 % )", "27.3% ( 27.3 % )" ], [ "risk-free interest rate", "2.4% ( 2.4 % )", "1.4% ( 1.4 % )", "1.7% ( 1.7 % )" ], [ "dividend yield", "2.9% ( 2.9 % )", "3.1% ( 3.1 % )", "2.9% ( 2.9 % )" ], [ "expected life ( in years )", "4.3", "4.2", "4.2" ], [ "contractual life ( in years )", "7", "7", "7" ], [ "expected forfeiture rate", "3.0% ( 3.0 % )", "3.0% ( 3.0 % )", "3.0% ( 3.0 % )" ] ]

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[ "it can issue debt securities , preferred stock , common stock , warrants , share purchase contracts or share purchase units without a predetermined limit .", "securities can be sold in one or more separate offerings with the size , price and terms to be determined at the time of sale .", "emerson 2019s financial structure provides the flexibility necessary to achieve its strategic objectives .", "the company has been successful in efficiently deploying cash where needed worldwide to fund operations , complete acquisitions and sustain long-term growth .", "at september 30 , 2017 , $ 3.1 billion of the company 2019s cash was held outside the u.s .", "( primarily in europe and asia ) , $ 1.4 billion of which income taxes have been provided for , and was generally available for repatriation to the u.s .", "under current tax law , repatriated cash may be subject to u.s .", "federal income taxes , net of available foreign tax credits .", "the company routinely repatriates a portion of its non-u.s .", "cash from earnings each year , or otherwise when it can be accomplished tax efficiently , and provides for u.s .", "income taxes as appropriate .", "the company has been able to readily meet all its funding requirements and currently believes that sufficient funds will be available to meet the company 2019s needs in the foreseeable future through operating cash flow , existing resources , short- and long-term debt capacity or backup credit lines .", "contractual obligations at september 30 , 2017 , the company 2019s contractual obligations , including estimated payments , are as follows : amounts due by period less more than 1 2013 3 3 2013 5 than ( dollars in millions ) total 1 year years years 5 years long-term debt ( including interest ) $ 5342 428 1434 966 2514 ." ]

[ "purchase obligations consist primarily of inventory purchases made in the normal course of business to meet operational requirements .", "the table above does not include $ 2.0 billion of other noncurrent liabilities recorded in the balance sheet and summarized in note 19 , which consist primarily of pension and postretirement plan liabilities , deferred income taxes and unrecognized tax benefits , because it is not certain when these amounts will become due .", "see notes 11 and 12 for estimated future benefit payments and note 14 for additional information on deferred income taxes .", "financial instruments the company is exposed to market risk related to changes in interest rates , foreign currency exchange rates and commodity prices , and selectively uses derivative financial instruments , including forwards , swaps and purchased options to manage these risks .", "the company does not hold derivatives for trading or speculative purposes .", "the value of derivatives and other financial instruments is subject to change as a result of market movements in rates and prices .", "sensitivity analysis is one technique used to forecast the impact of these movements .", "based on a hypothetical 10 percent increase in interest rates , a 10 percent decrease in commodity prices or a 10 percent weakening in the u.s .", "dollar across all currencies , the potential losses in future earnings , fair value or cash flows are not material .", "sensitivity analysis has limitations ; for example , a weaker u.s .", "dollar would benefit future earnings through favorable translation of non-u.s .", "operating results , and lower commodity prices would benefit future earnings through lower cost of sales .", "see notes 1 , and 8 through 10 .", "critical accounting policies preparation of the company 2019s financial statements requires management to make judgments , assumptions and estimates regarding uncertainties that could affect reported revenue , expenses , assets , liabilities and equity .", "note 1 describes the significant accounting policies used in preparation of the consolidated financial statements .", "the most significant areas where management judgments and estimates impact the primary financial statements are described below .", "actual results in these areas could differ materially from management 2019s estimates under different assumptions or conditions .", "revenue recognition the company recognizes a large majority of its revenue through the sale of manufactured products and records the sale when products are shipped or delivered , title and risk of loss pass to the customer , and collection is reasonably assured .", "in certain circumstances , revenue is recognized using the percentage-of- completion method , as performance occurs , or in accordance with asc 985-605 related to software .", "sales arrangements sometimes involve delivering multiple elements , which requires management judgment that affects the amount and timing of revenue recognized .", "in these instances , the revenue assigned to each element is based on vendor-specific objective evidence , third-party evidence or a management estimate of the relative selling price .", "revenue is recognized for delivered elements if they have value to the customer on a stand-alone basis and performance related to the undelivered items is probable and substantially in the company 2019s control , or the undelivered elements are inconsequential or perfunctory and there are no unsatisfied contingencies related to payment .", "the vast majority of deliverables are tangible products , with a smaller portion attributable to installation , service or maintenance .", "management believes that all relevant criteria and conditions are considered when recognizing revenue. ." ]

[ [ "", "Amounts Due By Period" ], [ "(dollars in millions)", "Total", "Less Than 1 Year", "1 - 3Years", "3 - 5Years", "More Than5 Years" ], [ "Long-term Debt (including Interest)", "$5,342", "428", "1,434", "966", "2,514" ], [ "Operating Leases", "536", "171", "206", "80", "79" ], [ "Purchase Obligations", "746", "655", "71", "14", "6" ], [ "Total", "$6,624", "1,254", "1,711", "1,060", "2,599" ] ]

[ [ "( dollars in millions )", "amounts due by period total", "amounts due by period less than 1 year", "amounts due by period 1 - 3years", "amounts due by period 3 - 5years", "amounts due by period more than5 years" ], [ "long-term debt ( including interest )", "$ 5342", "428", "1434", "966", "2514" ], [ "operating leases", "536", "171", "206", "80", "79" ], [ "purchase obligations", "746", "655", "71", "14", "6" ], [ "total", "$ 6624", "1254", "1711", "1060", "2599" ] ]

[]

[ "table of contents the notional amounts for outstanding derivative instruments provide one measure of the transaction volume outstanding and do not represent the amount of the company 2019s exposure to credit or market loss .", "the credit risk amounts represent the company 2019s gross exposure to potential accounting loss on derivative instruments that are outstanding or unsettled if all counterparties failed to perform according to the terms of the contract , based on then-current currency or interest rates at each respective date .", "the company 2019s exposure to credit loss and market risk will vary over time as currency and interest rates change .", "although the table above reflects the notional and credit risk amounts of the company 2019s derivative instruments , it does not reflect the gains or losses associated with the exposures and transactions that the instruments are intended to hedge .", "the amounts ultimately realized upon settlement of these financial instruments , together with the gains and losses on the underlying exposures , will depend on actual market conditions during the remaining life of the instruments .", "the company generally enters into master netting arrangements , which are designed to reduce credit risk by permitting net settlement of transactions with the same counterparty .", "to further limit credit risk , the company generally enters into collateral security arrangements that provide for collateral to be received or posted when the net fair value of certain financial instruments fluctuates from contractually established thresholds .", "the company presents its derivative assets and derivative liabilities at their gross fair values in its consolidated balance sheets .", "the net cash collateral received by the company related to derivative instruments under its collateral security arrangements was $ 1.0 billion as of september 26 , 2015 and $ 2.1 billion as of september 27 , 2014 .", "under master netting arrangements with the respective counterparties to the company 2019s derivative contracts , the company is allowed to net settle transactions with a single net amount payable by one party to the other .", "as of september 26 , 2015 and september 27 , 2014 , the potential effects of these rights of set-off associated with the company 2019s derivative contracts , including the effects of collateral , would be a reduction to both derivative assets and derivative liabilities of $ 2.2 billion and $ 1.6 billion , respectively , resulting in net derivative liabilities of $ 78 million and $ 549 million , respectively .", "accounts receivable receivables the company has considerable trade receivables outstanding with its third-party cellular network carriers , wholesalers , retailers , value-added resellers , small and mid-sized businesses and education , enterprise and government customers .", "the company generally does not require collateral from its customers ; however , the company will require collateral in certain instances to limit credit risk .", "in addition , when possible , the company attempts to limit credit risk on trade receivables with credit insurance for certain customers or by requiring third-party financing , loans or leases to support credit exposure .", "these credit-financing arrangements are directly between the third-party financing company and the end customer .", "as such , the company generally does not assume any recourse or credit risk sharing related to any of these arrangements .", "as of september 26 , 2015 , the company had one customer that represented 10% ( 10 % ) or more of total trade receivables , which accounted for 12% ( 12 % ) .", "as of september 27 , 2014 , the company had two customers that represented 10% ( 10 % ) or more of total trade receivables , one of which accounted for 16% ( 16 % ) and the other 13% ( 13 % ) .", "the company 2019s cellular network carriers accounted for 71% ( 71 % ) and 72% ( 72 % ) of trade receivables as of september 26 , 2015 and september 27 , 2014 , respectively .", "vendor non-trade receivables the company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of components to these vendors who manufacture sub-assemblies or assemble final products for the company .", "the company purchases these components directly from suppliers .", "vendor non-trade receivables from three of the company 2019s vendors accounted for 38% ( 38 % ) , 18% ( 18 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 26 , 2015 and three of the company 2019s vendors accounted for 51% ( 51 % ) , 16% ( 16 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 27 , 2014 .", "note 3 2013 consolidated financial statement details the following tables show the company 2019s consolidated financial statement details as of september 26 , 2015 and september 27 , 2014 ( in millions ) : property , plant and equipment , net ." ]

[ "apple inc .", "| 2015 form 10-k | 53 ." ]

[ [ "", "2015", "2014" ], [ "Land and buildings", "$6,956", "$4,863" ], [ "Machinery, equipment and internal-use software", "37,038", "29,639" ], [ "Leasehold improvements", "5,263", "4,513" ], [ "Gross property, plant and equipment", "49,257", "39,015" ], [ "Accumulated depreciation and amortization", "(26,786)", "(18,391)" ], [ "Total property, plant and equipment, net", "$22,471", "$20,624" ] ]

[ [ "", "2015", "2014" ], [ "land and buildings", "$ 6956", "$ 4863" ], [ "machinery equipment and internal-use software", "37038", "29639" ], [ "leasehold improvements", "5263", "4513" ], [ "gross property plant and equipment", "49257", "39015" ], [ "accumulated depreciation and amortization", "-26786 ( 26786 )", "-18391 ( 18391 )" ], [ "total property plant and equipment net", "$ 22471", "$ 20624" ] ]

[]

[ "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 , 2003 , the company had net federal and state operating loss carryforwards available to reduce future taxable income of approximately $ 0.9 billion and $ 1.5 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 , 2003 , the company has provided a valuation allowance of approximately $ 156.7 million , primarily related to net state deferred tax assets , capital loss carryforwards and the lost tax benefit and costs associated with our tax refund claims .", "the company has not provided a valuation allowance for the remaining net deferred tax assets , primarily its tax refund claims and federal net operating loss carryforwards , as management believes the company will be successful with its tax refund claims and have sufficient time to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period .", "the company intends to recover a portion of its deferred tax asset through its tax refund claims , related to certain federal net operating losses , filed during 2003 as part of a tax planning strategy implemented in 2002 .", "the recoverability of its 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 and interest expense 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 and debt repayments reducing interest expense .", "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 will be dependent upon its ability to generate approximately $ 1.0 billion in taxable income from january 1 , 2004 to december 31 , 2023 .", "if the company is unable to generate sufficient taxable income in the future , or carry back losses as described above , it will be required to reduce its net deferred tax asset through a charge to income tax expense , which would result in a corresponding decrease in stockholders 2019 equity .", "depending on the resolution of the verestar bankruptcy proceedings described in note 2 , the company may be entitled to a worthless stock or bad debt deduction for its investment in verestar .", "no income tax benefit has been provided for these potential deductions due to the uncertainty surrounding the bankruptcy proceedings .", "13 .", "stockholders 2019 equity preferred stock as of december 31 , 2003 the company was authorized to issue up to 20.0 million shares of $ .01 par value preferred stock .", "as of december 31 , 2003 and 2002 there were no preferred shares issued or outstanding. ." ]

[ [ "Years ended December 31,", "Federal", "State" ], [ "2004 to 2008", "$1,451", "$483,578" ], [ "2009 to 2013", "12,234", "66,666" ], [ "2014 to 2018", "10,191", "235,589" ], [ "2019 to 2023", "903,010", "728,139" ], [ "Total", "$926,886", "$1,513,972" ] ]

[ [ "years ended december 31,", "federal", "state" ], [ "2004 to 2008", "$ 1451", "$ 483578" ], [ "2009 to 2013", "12234", "66666" ], [ "2014 to 2018", "10191", "235589" ], [ "2019 to 2023", "903010", "728139" ], [ "total", "$ 926886", "$ 1513972" ] ]

[]

[ "the redemptions resulted in an early extinguishment charge of $ 5 million .", "on march 22 , 2010 , we redeemed $ 175 million of our 6.5% ( 6.5 % ) notes due april 15 , 2012 .", "the redemption resulted in an early extinguishment charge of $ 16 million in the first quarter of 2010 .", "on november 1 , 2010 , we redeemed all $ 400 million of our outstanding 6.65% ( 6.65 % ) notes due january 15 , 2011 .", "the redemption resulted in a $ 5 million early extinguishment charge .", "receivables securitization facility 2013 as of december 31 , 2011 and 2010 , we have recorded $ 100 million as secured debt under our receivables securitization facility .", "( see further discussion of our receivables securitization facility in note 10 ) .", "15 .", "variable interest entities we have entered into various lease transactions in which the structure of the leases contain variable interest entities ( vies ) .", "these vies were created solely for the purpose of doing lease transactions ( principally involving railroad equipment and facilities , 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 vie 2019s .", "the future minimum lease payments associated with the vie leases totaled $ 3.9 billion as of december 31 , 2011 .", "16 .", "leases we lease certain locomotives , freight cars , and other property .", "the consolidated statement of financial position as of december 31 , 2011 and 2010 included $ 2458 million , net of $ 915 million of accumulated depreciation , and $ 2520 million , net of $ 901 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 , 2011 , were as follows : millions operating leases capital leases ." ]

[ "the majority of capital lease payments relate to locomotives .", "rent expense for operating leases with terms exceeding one month was $ 637 million in 2011 , $ 624 million in 2010 , and $ 686 million in 2009 .", "when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term .", "contingent rentals and sub-rentals are not significant. ." ]

[ [ "<i>Millions</i>", "<i>Operating</i><i>Leases</i>", "<i>Capital</i><i>Leases</i>" ], [ "2012", "$525", "$297" ], [ "2013", "489", "269" ], [ "2014", "415", "276" ], [ "2015", "372", "276" ], [ "2016", "347", "262" ], [ "Later years", "2,380", "1,179" ], [ "Total minimum leasepayments", "$4,528", "$2,559" ], [ "Amount representing interest", "N/A", "(685)" ], [ "Present value of minimum leasepayments", "N/A", "$1,874" ] ]

[ [ "millions", "operatingleases", "capitalleases" ], [ "2012", "$ 525", "$ 297" ], [ "2013", "489", "269" ], [ "2014", "415", "276" ], [ "2015", "372", "276" ], [ "2016", "347", "262" ], [ "later years", "2380", "1179" ], [ "total minimum leasepayments", "$ 4528", "$ 2559" ], [ "amount representing interest", "n/a", "-685 ( 685 )" ], [ "present value of minimum leasepayments", "n/a", "$ 1874" ] ]

[ { "arg1": "175", "arg2": "6.5%", "op": "multiply1-1", "res": "11.375" }, { "arg1": "#0", "arg2": "16", "op": "compare_larger1-2", "res": "no" } ]

[ "13 .", "rentals and leases the company leases sales and administrative office facilities , distribution centers , research and manufacturing facilities , as well as vehicles and other equipment under operating leases .", "total rental expense under the company 2019s operating leases was $ 239 million in 2017 and $ 221 million in both 2016 and 2015 .", "as of december 31 , 2017 , identifiable future minimum payments with non-cancelable terms in excess of one year were : ( millions ) ." ]

[ "the company enters into operating leases for vehicles whose non-cancelable terms are one year or less in duration with month-to-month renewal options .", "these leases have been excluded from the table above .", "the company estimates payments under such leases will approximate $ 62 million in 2018 .", "these vehicle leases have guaranteed residual values that have historically been satisfied by the proceeds on the sale of the vehicles .", "14 .", "research and development expenditures research expenditures that relate to the development of new products and processes , including significant improvements and refinements to existing products , are expensed as incurred .", "such costs were $ 201 million in 2017 , $ 189 million in 2016 and $ 191 million in 2015 .", "the company did not participate in any material customer sponsored research during 2017 , 2016 or 2015 .", "15 .", "commitments and contingencies the company is subject to various claims and contingencies related to , among other things , workers 2019 compensation , general liability ( including product liability ) , automobile claims , health care claims , environmental matters and lawsuits .", "the company is also subject to various claims and contingencies related to income taxes , which are discussed in note 12 .", "the company also has contractual obligations including lease commitments , which are discussed in note 13 .", "the company records liabilities where a contingent loss is probable and can be reasonably estimated .", "if the reasonable estimate of a probable loss is a range , the company records the most probable estimate of the loss or the minimum amount when no amount within the range is a better estimate than any other amount .", "the company discloses a contingent liability even if the liability is not probable or the amount is not estimable , or both , if there is a reasonable possibility that a material loss may have been incurred .", "insurance globally , the company has insurance policies with varying deductibility levels for property and casualty losses .", "the company is insured for losses in excess of these deductibles , subject to policy terms and conditions and has recorded both a liability and an offsetting receivable for amounts in excess of these deductibles .", "the company is self-insured for health care claims for eligible participating employees , subject to certain deductibles and limitations .", "the company determines its liabilities for claims on an actuarial basis .", "litigation and environmental matters the company and certain subsidiaries are party to various lawsuits , claims and environmental actions that have arisen in the ordinary course of business .", "these include from time to time antitrust , commercial , patent infringement , product liability and wage hour lawsuits , as well as possible obligations to investigate and mitigate the effects on the environment of the disposal or release of certain chemical substances at various sites , such as superfund sites and other operating or closed facilities .", "the company has established accruals for certain lawsuits , claims and environmental matters .", "the company currently believes that there is not a reasonably possible risk of material loss in excess of the amounts accrued related to these legal matters .", "because litigation is inherently uncertain , and unfavorable rulings or developments could occur , there can be no certainty that the company may not ultimately incur charges in excess of recorded liabilities .", "a future adverse ruling , settlement or unfavorable development could result in future charges that could have a material adverse effect on the company 2019s results of operations or cash flows in the period in which they are recorded .", "the company currently believes that such future charges related to suits and legal claims , if any , would not have a material adverse effect on the company 2019s consolidated financial position .", "environmental matters the company is currently participating in environmental assessments and remediation at approximately 45 locations , the majority of which are in the u.s. , and environmental liabilities have been accrued reflecting management 2019s best estimate of future costs .", "potential insurance reimbursements are not anticipated in the company 2019s accruals for environmental liabilities. ." ]

[ [ "2018", "$ 131" ], [ "2019", "115" ], [ "2020", "96" ], [ "2021", "86" ], [ "2022", "74" ], [ "Thereafter", "115" ], [ "Total", "$ 617" ] ]

[ [ "2018", "$ 131" ], [ "2019", "115" ], [ "2020", "96" ], [ "2021", "86" ], [ "2022", "74" ], [ "thereafter", "115" ], [ "total", "$ 617" ] ]

[]

[ "decreased production volume as final aircraft deliveries were completed during the second quarter of 2012 and $ 50 million from the favorable resolution of a contractual matter during the second quarter of 2012 ; and about $ 270 million for various other programs ( primarily sustainment activities ) due to decreased volume .", "the decreases were partially offset by higher net sales of about $ 295 million for f-35 production contracts due to increased production volume and risk retirements ; approximately $ 245 million for the c-5 program due to increased aircraft deliveries ( six aircraft delivered in 2013 compared to four in 2012 ) and other modernization activities ; and about $ 70 million for the f-35 development contract due to increased volume .", "aeronautics 2019 operating profit for 2013 decreased $ 87 million , or 5% ( 5 % ) , compared to 2012 .", "the decrease was primarily attributable to lower operating profit of about $ 85 million for the f-22 program , which includes approximately $ 50 million from the favorable resolution of a contractual matter in the second quarter of 2012 and about $ 35 million due to decreased risk retirements and production volume ; approximately $ 70 million for the c-130 program due to lower risk retirements and fewer deliveries partially offset by increased sustainment activities ; about $ 65 million for the c-5 program due to the inception-to-date effect of reducing the profit booking rate in the third quarter of 2013 and lower risk retirements ; approximately $ 35 million for the f-16 program due to fewer aircraft deliveries partially offset by increased sustainment activity and aircraft configuration mix .", "the decreases were partially offset by higher operating profit of approximately $ 180 million for f-35 production contracts due to increased risk retirements and volume .", "operating profit was comparable for the f-35 development contract and included adjustments of approximately $ 85 million to reflect the inception-to-date impacts of the downward revisions to the profit booking rate in both 2013 and 2012 .", "adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 75 million lower for 2013 compared to backlog backlog decreased slightly in 2014 compared to 2013 primarily due to lower orders on f-16 and f-22 programs .", "backlog decreased in 2013 compared to 2012 mainly due to lower orders on f-16 , c-5 and c-130 programs , partially offset by higher orders on the f-35 program .", "trends we expect aeronautics 2019 2015 net sales to be comparable or slightly behind 2014 due to a decline in f-16 deliveries as well as a decline in f-35 development activity , partially offset by an increase in production contracts .", "operating profit is also expected to decrease in the low single digit range , due primarily to contract mix , resulting in a slight decrease in operating margins between years .", "information systems & global solutions our is&gs business segment provides advanced technology systems and expertise , integrated information technology solutions and management services across a broad spectrum of applications for civil , defense , intelligence and other government customers .", "is&gs has a portfolio of many smaller contracts as compared to our other business segments .", "is&gs has been impacted by the continued downturn in certain federal agencies 2019 information technology budgets and increased re-competition on existing contracts coupled with the fragmentation of large contracts into multiple smaller contracts that are awarded primarily on the basis of price .", "is&gs 2019 operating results included the following ( in millions ) : ." ]

[ "2014 compared to 2013 is&gs 2019 net sales decreased $ 579 million , or 7% ( 7 % ) , for 2014 compared to 2013 .", "the decrease was primarily attributable to lower net sales of about $ 645 million for 2014 due to the wind-down or completion of certain programs , driven by reductions in direct warfighter support ( including jieddo and ptds ) and defense budgets tied to command and control programs ; and approximately $ 490 million for 2014 due to a decline in volume for various ongoing programs , which reflects lower funding levels and programs impacted by in-theater force reductions .", "the decreases were partially offset by higher net sales of about $ 550 million for 2014 due to the start-up of new programs , growth in recently awarded programs and integration of recently acquired companies. ." ]

[ [ "", "2014", "2013", "2012" ], [ "Net sales", "$7,788", "$8,367", "$8,846" ], [ "Operating profit", "699", "759", "808" ], [ "Operating margins", "9.0%", "9.1%", "9.1%" ], [ "Backlog at year-end", "$8,700", "$8,300", "$8,700" ] ]

[ [ "", "2014", "2013", "2012" ], [ "net sales", "$ 7788", "$ 8367", "$ 8846" ], [ "operating profit", "699", "759", "808" ], [ "operating margins", "9.0% ( 9.0 % )", "9.1% ( 9.1 % )", "9.1% ( 9.1 % )" ], [ "backlog at year-end", "$ 8700", "$ 8300", "$ 8700" ] ]

[ { "arg1": "699", "arg2": "759", "op": "minus1-1", "res": "-60" }, { "arg1": "#0", "arg2": "759", "op": "divide1-2", "res": "-7.9%" } ]

[ "sources of blackrock 2019s operating cash primarily include investment advisory , administration fees and securities lending revenue , performance fees , revenue from technology and risk management services , advisory and other revenue and distribution fees .", "blackrock uses its cash to pay all operating expense , interest and principal on borrowings , income taxes , dividends on blackrock 2019s capital stock , repurchases of the company 2019s stock , capital expenditures and purchases of co-investments and seed investments .", "for details of the company 2019s gaap cash flows from operating , investing and financing activities , see the consolidated statements of cash flows contained in part ii , item 8 of this filing .", "cash flows from operating activities , excluding the impact of consolidated sponsored investment funds , primarily include the receipt of investment advisory and administration fees , securities lending revenue and performance fees offset by the payment of operating expenses incurred in the normal course of business , including year-end incentive compensation accrued for in the prior year .", "cash outflows from investing activities , excluding the impact of consolidated sponsored investment funds , for 2017 were $ 517 million and primarily reflected $ 497 million of investment purchases , $ 155 million of purchases of property and equipment , $ 73 million related to the first reserve transaction and $ 29 million related to the cachematrix transaction , partially offset by $ 205 million of net proceeds from sales and maturities of certain investments .", "cash outflows from financing activities , excluding the impact of consolidated sponsored investment funds , for 2017 were $ 3094 million , primarily resulting from $ 1.4 billion of share repurchases , including $ 1.1 billion in open market- transactions and $ 321 million of employee tax withholdings related to employee stock transactions , $ 1.7 billion of cash dividend payments and $ 700 million of repayments of long- term borrowings , partially offset by $ 697 million of proceeds from issuance of long-term borrowings .", "the company manages its financial condition and funding to maintain appropriate liquidity for the business .", "liquidity resources at december 31 , 2017 and 2016 were as follows : ( in millions ) december 31 , december 31 , cash and cash equivalents ( 1 ) $ 6894 $ 6091 cash and cash equivalents held by consolidated vres ( 2 ) ( 63 ) ( 53 ) ." ]

[ "total liquidity resources ( 3 ) $ 10831 $ 10038 ( 1 ) the percentage of cash and cash equivalents held by the company 2019s u.s .", "subsidiaries was approximately 40% ( 40 % ) and 50% ( 50 % ) at december 31 , 2017 and 2016 , respectively .", "see net capital requirements herein for more information on net capital requirements in certain regulated subsidiaries .", "( 2 ) the company cannot readily access such cash to use in its operating activities .", "( 3 ) amounts do not reflect a reduction for year-end incentive compensation accruals of approximately $ 1.5 billion and $ 1.3 billion for 2017 and 2016 , respectively , which are paid in the first quarter of the following year .", "total liquidity resources increased $ 793 million during 2017 , primarily reflecting cash flows from operating activities , partially offset by cash payments of 2016 year-end incentive awards , share repurchases of $ 1.4 billion and cash dividend payments of $ 1.7 billion .", "a significant portion of the company 2019s $ 3154 million of total investments , as adjusted , is illiquid in nature and , as such , cannot be readily convertible to cash .", "share repurchases .", "the company repurchased 2.6 million common shares in open market transactions under the share repurchase program for approximately $ 1.1 billion during 2017 .", "at december 31 , 2017 , there were 6.4 million shares still authorized to be repurchased .", "net capital requirements .", "the company is required to maintain net capital in certain regulated subsidiaries within a number of jurisdictions , which is partially maintained by retaining cash and cash equivalent investments in those subsidiaries or jurisdictions .", "as a result , such subsidiaries of the company may be restricted in their ability to transfer cash between different jurisdictions and to their parents .", "additionally , transfers of cash between international jurisdictions may have adverse tax consequences that could discourage such transfers .", "blackrock institutional trust company , n.a .", "( 201cbtc 201d ) is chartered as a national bank that does not accept client deposits and whose powers are limited to trust and other fiduciary activities .", "btc provides investment management services , including investment advisory and securities lending agency services , to institutional clients .", "btc is subject to regulatory capital and liquid asset requirements administered by the office of the comptroller of the currency .", "at december 31 , 2017 and 2016 , the company was required to maintain approximately $ 1.8 billion and $ 1.4 billion , respectively , in net capital in certain regulated subsidiaries , including btc , entities regulated by the financial conduct authority and prudential regulation authority in the united kingdom , and the company 2019s broker-dealers .", "the company was in compliance with all applicable regulatory net capital requirements .", "undistributed earnings of foreign subsidiaries .", "as a result of the 2017 tax act and the one-time mandatory deemed repatriation tax on untaxed accumulated foreign earnings , a provisional amount of u.s .", "income taxes was provided on the undistributed foreign earnings .", "the financial statement basis in excess of tax basis of its foreign subsidiaries remains indefinitely reinvested in foreign operations .", "the company will continue to evaluate its capital management plans throughout 2018 .", "short-term borrowings 2017 revolving credit facility .", "the company 2019s credit facility has an aggregate commitment amount of $ 4.0 billion and was amended in april 2017 to extend the maturity date to april 2022 ( the 201c2017 credit facility 201d ) .", "the 2017 credit facility permits the company to request up to an additional $ 1.0 billion of borrowing capacity , subject to lender credit approval , increasing the overall size of the 2017 credit facility to an aggregate principal amount not to exceed $ 5.0 billion .", "interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread .", "the 2017 credit facility requires the company ." ]

[ [ "(in millions)", "December 31, 2017", "December 31, 2016" ], [ "Cash and cash equivalents⁽¹⁾", "$6,894", "$6,091" ], [ "Cash and cash equivalents held by consolidated VREs⁽²⁾", "(63)", "(53)" ], [ "Subtotal", "6,831", "6,038" ], [ "Credit facility — undrawn", "4,000", "4,000" ], [ "Total liquidity resources⁽³⁾", "$10,831", "$10,038" ] ]

[ [ "( in millions )", "december 31 2017", "december 31 2016" ], [ "cash and cash equivalents ( 1 )", "$ 6894", "$ 6091" ], [ "cash and cash equivalents held by consolidated vres ( 2 )", "-63 ( 63 )", "-53 ( 53 )" ], [ "subtotal", "6831", "6038" ], [ "credit facility 2014 undrawn", "4000", "4000" ], [ "total liquidity resources ( 3 )", "$ 10831", "$ 10038" ] ]

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[ "advance auto parts , inc .", "and subsidiaries notes to consolidated financial statements 2013 ( continued ) december 30 , 2006 , december 31 , 2005 and january 1 , 2005 ( in thousands , except per share data ) 8 .", "inventories , net inventories are stated at the lower of cost or market , cost being determined using the last-in , first-out ( \"lifo\" ) method for approximately 93% ( 93 % ) of inventories at both december 30 , 2006 and december 31 , 2005 .", "under the lifo method , the company 2019s cost of sales reflects the costs of the most currently purchased inventories while the inventory carrying balance represents the costs relating to prices paid in prior years .", "the company 2019s costs to acquire inventory have been generally decreasing in recent years as a result of its significant growth .", "accordingly , the cost to replace inventory is less than the lifo balances carried for similar product .", "as a result of the lifo method and the ability to obtain lower product costs , the company recorded a reduction to cost of sales of $ 9978 for fiscal year ended 2006 , an increase in cost of sales of $ 526 for fiscal year ended 2005 and a reduction to cost of sales of $ 11212 for fiscal year ended 2004 .", "the remaining inventories are comprised of product cores , which consist of the non-consumable portion of certain parts and batteries and are valued under the first-in , first-out ( \"fifo\" ) method .", "core values are included as part of our merchandise costs and are either passed on to the customer or returned to the vendor .", "additionally , these products are not subject to the frequent cost changes like our other merchandise inventory , thus , there is no material difference from applying either the lifo or fifo valuation methods .", "the company capitalizes certain purchasing and warehousing costs into inventory .", "purchasing and warehousing costs included in inventory , at fifo , at december 30 , 2006 and december 31 , 2005 , were $ 95576 and $ 92833 , respectively .", "inventories consist of the following : december 30 , december 31 , 2006 2005 ." ]

[ "replacement cost approximated fifo cost at december 30 , 2006 and december 31 , 2005 .", "inventory quantities are tracked through a perpetual inventory system .", "the company uses a cycle counting program in all distribution centers , parts delivered quickly warehouses , or pdqs , local area warehouses , or laws , and retail stores to ensure the accuracy of the perpetual inventory quantities of both merchandise and core inventory .", "the company establishes reserves for estimated shrink based on historical accuracy and effectiveness of the cycle counting program .", "the company also establishes reserves for potentially excess and obsolete inventories based on current inventory levels and the historical analysis of product sales and current market conditions .", "the nature of the company 2019s inventory is such that the risk of obsolescence is minimal and excess inventory has historically been returned to the company 2019s vendors for credit .", "the company provides reserves when less than full credit is expected from a vendor or when liquidating product will result in retail prices below recorded costs .", "the company 2019s reserves against inventory for these matters were $ 31376 and $ 22825 at december 30 , 2006 and december 31 , 2005 , respectively .", "9 .", "property and equipment : property and equipment are stated at cost , less accumulated depreciation .", "expenditures for maintenance and repairs are charged directly to expense when incurred ; major improvements are capitalized .", "when items are sold or retired , the related cost and accumulated depreciation are removed from the accounts , with any gain or loss reflected in the consolidated statements of operations .", "depreciation of land improvements , buildings , furniture , fixtures and equipment , and vehicles is provided over the estimated useful lives , which range from 2 to 40 years , of the respective assets using the straight-line method. ." ]

[ [ "", "December 30, 2006", "December 31, 2005" ], [ "Inventories at FIFO, net", "$1,380,573", "$1,294,310" ], [ "Adjustments to state inventories at LIFO", "82,767", "72,789" ], [ "Inventories at LIFO, net", "$1,463,340", "$1,367,099" ] ]

[ [ "", "december 30 2006", "december 31 2005" ], [ "inventories at fifo net", "$ 1380573", "$ 1294310" ], [ "adjustments to state inventories at lifo", "82767", "72789" ], [ "inventories at lifo net", "$ 1463340", "$ 1367099" ] ]

[]

[ "apple inc .", "| 2016 form 10-k | 20 company stock performance the following graph shows a comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the s&p information technology index and the dow jones u.s .", "technology supersector index for the five years ended september 24 , 2016 .", "the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p information technology index and the dow jones u.s .", "technology supersector index as of the market close on september 23 , 2011 .", "note that historic stock price performance is not necessarily indicative of future stock price performance .", "* $ 100 invested on 9/23/11 in stock or index , including reinvestment of dividends .", "data points are the last day of each fiscal year for the company 2019s common stock and september 30th for indexes .", "copyright a9 2016 s&p , a division of mcgraw hill financial .", "all rights reserved .", "copyright a9 2016 dow jones & co .", "all rights reserved .", "september september september september september september ." ]

[ "." ]

[ [ "", "September2011", "September2012", "September2013", "September2014", "September2015", "September2016" ], [ "Apple Inc.", "$100", "$166", "$123", "$183", "$212", "$213" ], [ "S&P 500 Index", "$100", "$130", "$155", "$186", "$185", "$213" ], [ "S&P Information Technology Index", "$100", "$132", "$142", "$183", "$187", "$230" ], [ "Dow Jones U.S. Technology Supersector Index", "$100", "$130", "$137", "$178", "$177", "$217" ] ]

[ [ "", "september2011", "september2012", "september2013", "september2014", "september2015", "september2016" ], [ "apple inc .", "$ 100", "$ 166", "$ 123", "$ 183", "$ 212", "$ 213" ], [ "s&p 500 index", "$ 100", "$ 130", "$ 155", "$ 186", "$ 185", "$ 213" ], [ "s&p information technology index", "$ 100", "$ 132", "$ 142", "$ 183", "$ 187", "$ 230" ], [ "dow jones u.s . technology supersector index", "$ 100", "$ 130", "$ 137", "$ 178", "$ 177", "$ 217" ] ]

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[ "n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( continued ) ace limited and subsidiaries share-based compensation expense for stock options and shares issued under the employee stock purchase plan ( espp ) amounted to $ 24 million ( $ 22 million after tax or $ 0.07 per basic and diluted share ) , $ 23 million ( $ 21 million after tax or $ 0.06 per basic and diluted share ) , and $ 20 million ( $ 18 million after tax or $ 0.05 per basic and diluted share ) for the years ended december 31 , 2008 , 2007 , and 2006 , respectively .", "for the years ended december 31 , 2008 , 2007 and 2006 , the expense for the restricted stock was $ 101 million ( $ 71 million after tax ) , $ 77 million ( $ 57 million after tax ) , and $ 65 million ( $ 49 million after tax ) , respectively .", "during 2004 , the company established the ace limited 2004 long-term incentive plan ( the 2004 ltip ) .", "once the 2004 ltip was approved by shareholders , it became effective february 25 , 2004 .", "it will continue in effect until terminated by the board .", "this plan replaced the ace limited 1995 long-term incentive plan , the ace limited 1995 outside directors plan , the ace limited 1998 long-term incentive plan , and the ace limited 1999 replacement long-term incentive plan ( the prior plans ) except as to outstanding awards .", "during the company 2019s 2008 annual general meeting , shareholders voted to increase the number of common shares authorized to be issued under the 2004 ltip from 15000000 common shares to 19000000 common shares .", "accordingly , under the 2004 ltip , a total of 19000000 common shares of the company are authorized to be issued pursuant to awards made as stock options , stock appreciation rights , performance shares , performance units , restricted stock , and restricted stock units .", "the maximum number of shares that may be delivered to participants and their beneficiaries under the 2004 ltip shall be equal to the sum of : ( i ) 19000000 shares ; and ( ii ) any shares that are represented by awards granted under the prior plans that are forfeited , expired , or are canceled after the effective date of the 2004 ltip , without delivery of shares or which result in the forfeiture of the shares back to the company to the extent that such shares would have been added back to the reserve under the terms of the applicable prior plan .", "as of december 31 , 2008 , a total of 10591090 shares remain available for future issuance under this plan .", "under the 2004 ltip , 3000000 common shares are authorized to be issued under the espp .", "as of december 31 , 2008 , a total of 989812 common shares remain available for issuance under the espp .", "stock options the company 2019s 2004 ltip provides for grants of both incentive and non-qualified stock options principally at an option price per share of 100 percent of the fair value of the company 2019s common shares on the date of grant .", "stock options are generally granted with a 3-year vesting period and a 10-year term .", "the stock options vest in equal annual installments over the respective vesting period , which is also the requisite service period .", "included in the company 2019s share-based compensation expense in the year ended december 31 , 2008 , is the cost related to the unvested portion of the 2005-2008 stock option grants .", "the fair value of the stock options was estimated on the date of grant using the black-scholes option-pricing model that uses the assumptions noted in the following table .", "the risk-free inter- est rate is based on the u.s .", "treasury yield curve in effect at the time of grant .", "the expected life ( estimated period of time from grant to exercise date ) was estimated using the historical exercise behavior of employees .", "expected volatility was calculated as a blend of ( a ) historical volatility based on daily closing prices over a period equal to the expected life assumption , ( b ) long- term historical volatility based on daily closing prices over the period from ace 2019s initial public trading date through the most recent quarter , and ( c ) implied volatility derived from ace 2019s publicly traded options .", "the fair value of the options issued is estimated on the date of grant using the black-scholes option-pricing model , with the following weighted-average assumptions used for grants for the years indicated: ." ]

[ "." ]

[ [ "", "2008", "2007", "2006" ], [ "Dividend yield", "1.80%", "1.78%", "1.64%" ], [ "Expected volatility", "32.20%", "27.43%", "31.29%" ], [ "Risk-free interest rate", "3.15%", "4.51%", "4.60%" ], [ "Forfeiture rate", "7.5%", "7.5%", "7.5%" ], [ "Expected life", "5.7 years", "5.6 years", "6 years" ] ]

[ [ "", "2008", "2007", "2006" ], [ "dividend yield", "1.80% ( 1.80 % )", "1.78% ( 1.78 % )", "1.64% ( 1.64 % )" ], [ "expected volatility", "32.20% ( 32.20 % )", "27.43% ( 27.43 % )", "31.29% ( 31.29 % )" ], [ "risk-free interest rate", "3.15% ( 3.15 % )", "4.51% ( 4.51 % )", "4.60% ( 4.60 % )" ], [ "forfeiture rate", "7.5% ( 7.5 % )", "7.5% ( 7.5 % )", "7.5% ( 7.5 % )" ], [ "expected life", "5.7 years", "5.6 years", "6 years" ] ]

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