Datasets:

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MehdiHosseiniMoghadam

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ConvFinQA

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[ "jpmorgan chase & co./2010 annual report 219 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agree- ments 201d ) primarily to finance the firm 2019s inventory positions , ac- quire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations .", "securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets .", "resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest .", "securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received .", "where appropriate under applicable ac- counting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis .", "fees received or paid in connection with securities financing agreements are recorded in interest income or interest expense .", "the firm has elected the fair value option for certain securities financing agreements .", "for a further discussion of the fair value option , see note 4 on pages 187 2013189 of this annual report .", "the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated bal- ance sheets .", "generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue .", "however , for financial instru- ments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue .", "the following table details the firm 2019s securities financing agree- ments , all of which are accounted for as collateralized financings during the periods presented. ." ]

[ "( a ) includes resale agreements of $ 20.3 billion and $ 20.5 billion accounted for at fair value at december 31 , 2010 and 2009 , respectively .", "( b ) includes securities borrowed of $ 14.0 billion and $ 7.0 billion accounted for at fair value at december 31 , 2010 and 2009 , respectively .", "( c ) includes repurchase agreements of $ 4.1 billion and $ 3.4 billion accounted for at fair value at december 31 , 2010 and 2009 , respectively .", "the amounts reported in the table above have been reduced by $ 112.7 billion and $ 121.2 billion at december 31 , 2010 and 2009 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance .", "jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securi- ties borrowed .", "the firm monitors the market value of the un- derlying securities that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities .", "margin levels are established initially based upon the counterparty and type of collateral and moni- tored on an ongoing basis to protect against declines in collat- eral value in the event of default .", "jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities bor- rowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default .", "as a result of the firm 2019s credit risk mitigation practices described above on resale and securities borrowed agreements , the firm did not hold any reserves for credit impairment on these agreements as of december 31 , 2010 and 2009 .", "for a further discussion of assets pledged and collateral received in securities financing agreements see note 31 on pages 280 2013 281 of this annual report. ." ]

[ [ "December 31, (in millions)", "2010", "2009" ], [ "Securities purchased under resale agreements^(a)", "$222,302", "$195,328" ], [ "Securities borrowed^(b)", "123,587", "119,630" ], [ "Securities sold under repurchase agreements^(c)", "$262,722", "$245,692" ], [ "Securities loaned", "10,592", "7,835" ] ]

[ [ "december 31 ( in millions )", "2010", "2009" ], [ "securities purchased under resale agreements ( a )", "$ 222302", "$ 195328" ], [ "securities borrowed ( b )", "123587", "119630" ], [ "securities sold under repurchase agreements ( c )", "$ 262722", "$ 245692" ], [ "securities loaned", "10592", "7835" ] ]

[ { "arg1": "4.1", "arg2": "3.4", "op": "add2-1", "res": "7.4" }, { "arg1": "#0", "arg2": "const_2", "op": "divide0-0", "res": "3.7" } ]

[ "improvements are amortized using the straight-line method over the lesser of the remaining respective lease term or estimated useful lives ranging from 1 to 15 years .", "goodwill , purchased intangibles and other long-lived assets we review our goodwill for impairment annually , or more frequently , if facts and circumstances warrant a review .", "we completed our annual impairment test in the second quarter of fiscal 2011 and determined that there was no impairment .", "in the fourth quarter of fiscal 2011 , we announced changes to our business strategy which resulted in a reduction of forecasted revenue for certain of our products .", "we performed an update to our goodwill impairment test for the enterprise reporting unit and determined there was no impairment .", "goodwill is assigned to one or more reporting segments on the date of acquisition .", "we evaluate goodwill for impairment by comparing the fair value of each of our reporting segments to its carrying value , including the associated goodwill .", "to determine the fair values , we use the market approach based on comparable publicly traded companies in similar lines of businesses and the income approach based on estimated discounted future cash flows .", "our cash flow assumptions consider historical and forecasted revenue , operating costs and other relevant factors .", "we amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists .", "we continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets , including our intangible assets may not be recoverable .", "when such events or changes in circumstances occur , we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows .", "if the future undiscounted cash flows are less than the carrying amount of these assets , we recognize an impairment loss based on any excess of the carrying amount over the fair value of the assets .", "we did not recognize any intangible asset impairment charges in fiscal 2011 , 2010 or 2009 .", "our intangible assets are amortized over their estimated useful lives of 1 to 13 years .", "amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed .", "the weighted average useful lives of our intangibles assets was as follows: ." ]

[ "weighted average useful life ( years ) software development costs capitalization of software development costs for software to be sold , leased , or otherwise marketed begins upon the establishment of technological feasibility , which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate .", "amortization begins once the software is ready for its intended use , generally based on the pattern in which the economic benefits will be consumed .", "to date , software development costs incurred between completion of a working prototype and general availability of the related product have not been material .", "internal use software we capitalize costs associated with customized internal-use software systems that have reached the application development stage .", "such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related expenses for employees , who are directly associated with the development of the applications .", "capitalization of such costs begins when the preliminary project stage is complete and ceases at the point in which the project is substantially complete and is ready for its intended purpose .", "table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) ." ]

[ [ "", "Weighted AverageUseful Life (years)" ], [ "Purchased technology", "6" ], [ "Customer contracts and relationships", "10" ], [ "Trademarks", "7" ], [ "Acquired rights to use technology", "9" ], [ "Localization", "1" ], [ "Other intangibles", "3" ] ]

[ [ "", "weighted averageuseful life ( years )" ], [ "purchased technology", "6" ], [ "customer contracts and relationships", "10" ], [ "trademarks", "7" ], [ "acquired rights to use technology", "9" ], [ "localization", "1" ], [ "other intangibles", "3" ] ]

[ { "arg1": "10", "arg2": "7", "op": "add2-1", "res": "17.0" }, { "arg1": "#0", "arg2": "const_2", "op": "divide0-0", "res": "8.5" } ]

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

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

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

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

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[ "affiliated company .", "the loss recorded on the sale was approximately $ 14 million and is recorded as a loss on sale of assets and asset impairment expenses in the accompanying consolidated statements of operations .", "in the second quarter of 2002 , the company recorded an impairment charge of approximately $ 40 million , after income taxes , on an equity method investment in a telecommunications company in latin america held by edc .", "the impairment charge resulted from sustained poor operating performance coupled with recent funding problems at the invested company .", "during 2001 , the company lost operational control of central electricity supply corporation ( 2018 2018cesco 2019 2019 ) , a distribution company located in the state of orissa , india .", "cesco is accounted for as a cost method investment .", "in may 2000 , the company completed the acquisition of 100% ( 100 % ) of tractebel power ltd ( 2018 2018tpl 2019 2019 ) for approximately $ 67 million and assumed liabilities of approximately $ 200 million .", "tpl owned 46% ( 46 % ) of nigen .", "the company also acquired an additional 6% ( 6 % ) interest in nigen from minority stockholders during the year ended december 31 , 2000 through the issuance of approximately 99000 common shares of aes stock valued at approximately $ 4.9 million .", "with the completion of these transactions , the company owns approximately 98% ( 98 % ) of nigen 2019s common stock and began consolidating its financial results beginning may 12 , 2000 .", "approximately $ 100 million of the purchase price was allocated to excess of costs over net assets acquired and was amortized through january 1 , 2002 at which time the company adopted sfas no .", "142 and ceased amortization of goodwill .", "in august 2000 , a subsidiary of the company acquired a 49% ( 49 % ) interest in songas limited ( 2018 2018songas 2019 2019 ) for approximately $ 40 million .", "the company acquired an additional 16.79% ( 16.79 % ) of songas for approximately $ 12.5 million , and the company began consolidating this entity in 2002 .", "songas owns the songo songo gas-to-electricity project in tanzania .", "in december 2002 , the company signed a sales purchase agreement to sell songas .", "the sale is expected to close in early 2003 .", "see note 4 for further discussion of the transaction .", "the following table presents summarized comparative financial information ( in millions ) for the company 2019s investments in 50% ( 50 % ) or less owned investments accounted for using the equity method. ." ]

[ "in 2002 , 2001 and 2000 , the results of operations and the financial position of cemig were negatively impacted by the devaluation of the brazilian real and the impairment charge recorded in 2002 .", "the brazilian real devalued 32% ( 32 % ) , 19% ( 19 % ) and 8% ( 8 % ) for the years ended december 31 , 2002 , 2001 and 2000 , respectively .", "the company recorded $ 83 million , $ 210 million , and $ 64 million of pre-tax non-cash foreign currency transaction losses on its investments in brazilian equity method affiliates during 2002 , 2001 and 2000 , respectively. ." ]

[ [ "AS OF AND FOR THE YEARS ENDED DECEMBER 31,", "2002", "2001", "2000" ], [ "Revenues", "$2,832", "$6,147", "$6,241" ], [ "Operating Income", "695", "1,717", "1,989" ], [ "Net Income", "229", "650", "859" ], [ "Current Assets", "1,097", "3,700", "2,423" ], [ "Noncurrent Assets", "6,751", "14,942", "13,080" ], [ "Current Liabilities", "1,418", "3,510", "3,370" ], [ "Noncurrent Liabilities", "3,349", "8,297", "5,927" ], [ "Stockholder's Equity", "3,081", "6,835", "6,206" ] ]

[ [ "as of and for the years ended december 31,", "2002", "2001", "2000" ], [ "revenues", "$ 2832", "$ 6147", "$ 6241" ], [ "operating income", "695", "1717", "1989" ], [ "net income", "229", "650", "859" ], [ "current assets", "1097", "3700", "2423" ], [ "noncurrent assets", "6751", "14942", "13080" ], [ "current liabilities", "1418", "3510", "3370" ], [ "noncurrent liabilities", "3349", "8297", "5927" ], [ "stockholder's equity", "3081", "6835", "6206" ] ]

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[ "cross-border outstandings to countries in which we do business which amounted to at least 1% ( 1 % ) of our consolidated total assets were as follows as of december 31 : 2007 2006 2005 ( in millions ) ." ]

[ "the total cross-border outstandings presented in the table represented 12% ( 12 % ) , 9% ( 9 % ) and 11% ( 11 % ) of our consolidated total assets as of december 31 , 2007 , 2006 and 2005 , respectively .", "there were no cross- border outstandings to countries which totaled between .75% ( .75 % ) and 1% ( 1 % ) of our consolidated total assets as of december 31 , 2007 .", "aggregate cross-border outstandings to countries which totaled between .75% ( .75 % ) and 1% ( 1 % ) of our consolidated total assets at december 31 , 2006 , amounted to $ 1.05 billion ( canada ) and at december 31 , 2005 , amounted to $ 1.86 billion ( belgium and japan ) .", "capital regulatory and economic capital management both use key metrics evaluated by management to ensure that our actual level of capital is commensurate with our risk profile , is in compliance with all regulatory requirements , and is sufficient to provide us with the financial flexibility to undertake future strategic business initiatives .", "regulatory capital our objective with respect to regulatory capital management is to maintain a strong capital base in order to provide financial flexibility for our business needs , including funding corporate growth and supporting customers 2019 cash management needs , and to provide protection against loss to depositors and creditors .", "we strive to maintain an optimal level of capital , commensurate with our risk profile , on which an attractive return to shareholders will be realized over both the short and long term , while protecting our obligations to depositors and creditors and satisfying regulatory requirements .", "our capital management process focuses on our risk exposures , our capital position relative to our peers , regulatory capital requirements and the evaluations of the major independent credit rating agencies that assign ratings to our public debt .", "the capital committee , working in conjunction with the asset and liability committee , referred to as 2018 2018alco , 2019 2019 oversees the management of regulatory capital , and is responsible for ensuring capital adequacy with respect to regulatory requirements , internal targets and the expectations of the major independent credit rating agencies .", "the primary regulator of both state street and state street bank for regulatory capital purposes is the federal reserve board .", "both state street and state street bank are subject to the minimum capital requirements established by the federal reserve board and defined in the federal deposit insurance corporation improvement act of 1991 .", "state street bank must meet the regulatory capital thresholds for 2018 2018well capitalized 2019 2019 in order for the parent company to maintain its status as a financial holding company. ." ]

[ [ "(In millions)", "2007", "2006", "2005" ], [ "United Kingdom", "$5,951", "$5,531", "$2,696" ], [ "Canada", "4,565", "—", "1,463" ], [ "Australia", "3,567", "1,519", "1,441" ], [ "Netherlands", "—", "—", "992" ], [ "Germany", "2,944", "2,696", "4,217" ], [ "Total cross-border outstandings", "$17,027", "$9,746", "$10,809" ] ]

[ [ "( in millions )", "2007", "2006", "2005" ], [ "united kingdom", "$ 5951", "$ 5531", "$ 2696" ], [ "canada", "4565", "2014", "1463" ], [ "australia", "3567", "1519", "1441" ], [ "netherlands", "2014", "2014", "992" ], [ "germany", "2944", "2696", "4217" ], [ "total cross-border outstandings", "$ 17027", "$ 9746", "$ 10809" ] ]

[ { "arg1": "5951", "arg2": "5531", "op": "minus1-1", "res": "420" }, { "arg1": "#0", "arg2": "5531", "op": "divide1-2", "res": "7.5%" } ]

[ "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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[ "there are inherent limitations on the effectiveness of our controls .", "we do not expect that our disclosure controls or our internal control over financial reporting will prevent or detect all errors and all fraud .", "a control system , no matter how well-designed and operated , can provide only reasonable , not absolute , assurance that the control system 2019s objectives will be met .", "the design of a control system must reflect the fact that resource constraints exist , and the benefits of controls must be considered relative to their costs .", "further , because of the inherent limitations in all control systems , no evaluation of controls can provide absolute assurance that misstatements due to error or fraud will not occur or that all control issues and instances of fraud , if any , have been detected .", "the design of any system of controls is based in part on certain assumptions about the likelihood of future events , and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions .", "projections of any evaluation of the effectiveness of controls to future periods are subject to risks .", "over time , controls may become inadequate due to changes in conditions or deterioration in the degree of compliance with policies or procedures .", "if our controls become inadequate , we could fail to meet our financial reporting obligations , our reputation may be adversely affected , our business and operating results could be harmed , and the market price of our stock could decline .", "item 1b .", "unresolved staff comments not applicable .", "item 2 .", "properties as of december 31 , 2016 , our major facilities consisted of : ( square feet in millions ) united states countries total owned facilities1 .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "31.5 19.2 50.7 leased facilities2 .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "2.5 7.1 9.6 ." ]

[ "1 leases and municipal grants on portions of the land used for these facilities expire on varying dates through 2109 .", "2 leases expire on varying dates through 2058 and generally include renewals at our option .", "our principal executive offices are located in the u.s .", "and the majority of our wafer manufacturing activities in 2016 were also located in the u.s .", "one of our arizona wafer fabrication facilities is currently on hold and held in a safe state , and we are reserving the building for additional capacity and future technologies .", "incremental construction and equipment installation are required to ready the facility for its intended use .", "for more information on our wafer fabrication and our assembly and test facilities , see 201cmanufacturing and assembly and test 201d in part i , item 1 of this form 10-k .", "we believe that the facilities described above are suitable and adequate for our present purposes and that the productive capacity in our facilities is substantially being utilized or we have plans to utilize it .", "we do not identify or allocate assets by operating segment .", "for information on net property , plant and equipment by country , see 201cnote 4 : operating segments and geographic information 201d in part ii , item 8 of this form 10-k .", "item 3 .", "legal proceedings for a discussion of legal proceedings , see 201cnote 20 : commitments and contingencies 201d in part ii , item 8 of this form 10-k .", "item 4 .", "mine safety disclosures not applicable. ." ]

[ [ "(Square Feet in Millions)", "UnitedStates", "OtherCountries", "Total" ], [ "Owned facilities¹", "31.5", "19.2", "50.7" ], [ "Leased facilities²", "2.5", "7.1", "9.6" ], [ "Total facilities", "34.0", "26.3", "60.3" ] ]

[ [ "( square feet in millions )", "unitedstates", "othercountries", "total" ], [ "owned facilities1", "31.5", "19.2", "50.7" ], [ "leased facilities2", "2.5", "7.1", "9.6" ], [ "total facilities", "34.0", "26.3", "60.3" ] ]

[]

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

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

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

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

[ { "arg1": "34", "arg2": "20", "op": "minus2-1", "res": "14" }, { "arg1": "#0", "arg2": "20", "op": "divide2-2", "res": "70.0%" } ]

[ "management 2019s discussion and analysis jpmorgan chase & co./2009 annual report 130 the following histogram illustrates the daily market risk 2013related gains and losses for ib and consumer/cio positions for 2009 .", "the chart shows that the firm posted market risk 2013related gains on 227 out of 261 days in this period , with 69 days exceeding $ 160 million .", "the inset graph looks at those days on which the firm experienced losses and depicts the amount by which the 95% ( 95 % ) confidence level var exceeded the actual loss on each of those days .", "losses were sustained on 34 days during 2009 and exceeded the var measure on one day due to high market volatility in the first quarter of 2009 .", "under the 95% ( 95 % ) confidence interval , the firm would expect to incur daily losses greater than that pre- dicted by var estimates about twelve times a year .", "the following table provides information about the gross sensitivity of dva to a one-basis-point increase in jpmorgan chase 2019s credit spreads .", "this sensitivity represents the impact from a one-basis-point parallel shift in jpmorgan chase 2019s entire credit curve .", "as credit curves do not typically move in a parallel fashion , the sensitivity multiplied by the change in spreads at a single maturity point may not be representative of the actual revenue recognized .", "debit valuation adjustment sensitivity 1 basis point increase in ( in millions ) jpmorgan chase credit spread ." ]

[ "loss advisories and drawdowns loss advisories and drawdowns are tools used to highlight to senior management trading losses above certain levels and initiate discus- sion of remedies .", "economic value stress testing while var reflects the risk of loss due to adverse changes in normal markets , stress testing captures the firm 2019s exposure to unlikely but plausible events in abnormal markets .", "the firm conducts economic- value stress tests using multiple scenarios that assume credit spreads widen significantly , equity prices decline and significant changes in interest rates across the major currencies .", "other scenar- ios focus on the risks predominant in individual business segments and include scenarios that focus on the potential for adverse movements in complex portfolios .", "scenarios were updated more frequently in 2009 and , in some cases , redefined to reflect the signifi- cant market volatility which began in late 2008 .", "along with var , stress testing is important in measuring and controlling risk .", "stress testing enhances the understanding of the firm 2019s risk profile and loss potential , and stress losses are monitored against limits .", "stress testing is also utilized in one-off approvals and cross-business risk measurement , as well as an input to economic capital allocation .", "stress-test results , trends and explanations based on current market risk positions are reported to the firm 2019s senior management and to the lines of business to help them better measure and manage risks and to understand event risk 2013sensitive positions. ." ]

[ [ "(in millions)", "1 Basis Point Increase in JPMorgan Chase Credit Spread" ], [ "December 31, 2009", "$39" ], [ "December 31, 2008", "$37" ] ]

[ [ "( in millions )", "1 basis point increase in jpmorgan chase credit spread" ], [ "december 31 2009", "$ 39" ], [ "december 31 2008", "$ 37" ] ]

[ { "arg1": "39", "arg2": "37", "op": "divide2-1", "res": "1.054" }, { "arg1": "#0", "arg2": "const_1", "op": "minus2-2", "res": "0.054" }, { "arg1": "#1", "arg2": "const_100", "op": "multiply2-3", "res": "5.4" } ]

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

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

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

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

[ { "arg1": "136", "arg2": "110", "op": "minus1-1", "res": "26" }, { "arg1": "#0", "arg2": "110", "op": "divide1-2", "res": "0.2364" } ]

[ "impairment of long-lived assets based on the projection of undiscounted cash flows whenever events or changes in circumstances indicate that the carrying amounts of such assets may not be recoverable .", "in the event such cash flows are not expected to be sufficient to recover the recorded value of the assets , the assets are written down to their estimated fair values ( see note 5 ) .", "asset retirement obligations 2014effective january 1 , 2003 , the company adopted statement of financial accounting standards ( 2018 2018sfas 2019 2019 ) no .", "143 , 2018 2018accounting for asset retirement obligations . 2019 2019 sfas no .", "143 requires the company to record the fair value of a legal liability for an asset retirement obligation in the period in which it is incurred .", "when a new liability is recorded the company will capitalize the costs of the liability by increasing the carrying amount of the related long-lived asset .", "the liability is accreted to its present value each period and the capitalized cost is depreciated over the useful life of the related asset .", "upon settlement of the liability , the company settles the obligation for its recorded amount or incurs a gain or loss upon settlement .", "the company 2019s retirement obligations covered by sfas no .", "143 include primarily active ash landfills , water treatment basins and the removal or dismantlement of certain plant and equipment .", "as of december 31 , 2003 and 2002 , the company had recorded liabilities of approximately $ 29 million and $ 15 million , respectively , related to asset retirement obligations .", "there are no assets that are legally restricted for purposes of settling asset retirement obligations .", "upon adoption of sfas no .", "143 , the company recorded an additional liability of approximately $ 13 million , a net asset of approximately $ 9 million , and a cumulative effect of a change in accounting principle of approximately $ 2 million , after income taxes .", "amounts recorded related to asset retirement obligations during the years ended december 31 , 2003 were as follows ( in millions ) : ." ]

[ "proforma net ( loss ) income and ( loss ) earnings per share have not been presented for the years ended december 31 , 2002 and 2001 because the proforma application of sfas no .", "143 to prior periods would result in proforma net ( loss ) income and ( loss ) earnings per share not materially different from the actual amounts reported for those periods in the accompanying consolidated statements of operations .", "had sfas 143 been applied during all periods presented the asset retirement obligation at january 1 , 2001 , december 31 , 2001 and december 31 , 2002 would have been approximately $ 21 million , $ 23 million and $ 28 million , respectively .", "included in other long-term liabilities is the accrual for the non-legal obligations for removal of assets in service at ipalco amounting to $ 361 million and $ 339 million at december 31 , 2003 and 2002 , respectively .", "deferred financing costs 2014financing costs are deferred and amortized over the related financing period using the effective interest method or the straight-line method when it does not differ materially from the effective interest method .", "deferred financing costs are shown net of accumulated amortization of $ 202 million and $ 173 million as of december 31 , 2003 and 2002 , respectively .", "project development costs 2014the company capitalizes the costs of developing new construction projects after achieving certain project-related milestones that indicate the project 2019s completion is probable .", "these costs represent amounts incurred for professional services , permits , options , capitalized interest , and other costs directly related to construction .", "these costs are transferred to construction in progress when significant construction activity commences , or expensed at the time the company determines that development of a particular project is no longer probable ( see note 5 ) . ." ]

[ [ "Balance at December 31, 2002", "$15" ], [ "Additional liability recorded from cumulative effect of accounting change", "13" ], [ "Accretion expense", "2" ], [ "Change in the timing of estimated cash flows", "(1)" ], [ "Balance at December 31, 2003", "$29" ] ]

[ [ "balance at december 31 2002", "$ 15" ], [ "additional liability recorded from cumulative effect of accounting change", "13" ], [ "accretion expense", "2" ], [ "change in the timing of estimated cash flows", "-1 ( 1 )" ], [ "balance at december 31 2003", "$ 29" ] ]

[]

[ "note 2 2013 earnings per share the weighted average number of shares outstanding used to compute earnings per common share were as follows ( in millions ) : ." ]

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

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

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

[ { "arg1": "286.8", "arg2": "290.6", "op": "minus1-1", "res": "-3.8" }, { "arg1": "#0", "arg2": "290.6", "op": "divide1-2", "res": "-1.3%" } ]

[ "cgmhi has committed long-term financing facilities with unaffiliated banks .", "at december 31 , 2010 , cgmhi had drawn down the full $ 900 million available under these facilities , of which $ 150 million is guaranteed by citigroup .", "generally , a bank can terminate these facilities by giving cgmhi one-year prior notice .", "the company issues both fixed and variable rate debt in a range of currencies .", "it uses derivative contracts , primarily interest rate swaps , to effectively convert a portion of its fixed rate debt to variable rate debt and variable rate debt to fixed rate debt .", "the maturity structure of the derivatives generally corresponds to the maturity structure of the debt being hedged .", "in addition , the company uses other derivative contracts to manage the foreign exchange impact of certain debt issuances .", "at december 31 , 2010 , the company 2019s overall weighted average interest rate for long-term debt was 3.53% ( 3.53 % ) on a contractual basis and 2.78% ( 2.78 % ) including the effects of derivative contracts .", "aggregate annual maturities of long-term debt obligations ( based on final maturity dates ) including trust preferred securities are as follows : long-term debt at december 31 , 2010 and december 31 , 2009 includes $ 18131 million and $ 19345 million , respectively , of junior subordinated debt .", "the company formed statutory business trusts under the laws of the state of delaware .", "the trusts exist for the exclusive purposes of ( i ) issuing trust securities representing undivided beneficial interests in the assets of the trust ; ( ii ) investing the gross proceeds of the trust securities in junior subordinated deferrable interest debentures ( subordinated debentures ) of its parent ; and ( iii ) engaging in only those activities necessary or incidental thereto .", "upon approval from the federal reserve , citigroup has the right to redeem these securities .", "citigroup has contractually agreed not to redeem or purchase ( i ) the 6.50% ( 6.50 % ) enhanced trust preferred securities of citigroup capital xv before september 15 , 2056 , ( ii ) the 6.45% ( 6.45 % ) enhanced trust preferred securities of citigroup capital xvi before december 31 , 2046 , ( iii ) the 6.35% ( 6.35 % ) enhanced trust preferred securities of citigroup capital xvii before march 15 , 2057 , ( iv ) the 6.829% ( 6.829 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xviii before june 28 , 2047 , ( v ) the 7.250% ( 7.250 % ) enhanced trust preferred securities of citigroup capital xix before august 15 , 2047 , ( vi ) the 7.875% ( 7.875 % ) enhanced trust preferred securities of citigroup capital xx before december 15 , 2067 , and ( vii ) the 8.300% ( 8.300 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xxi before december 21 , 2067 , unless certain conditions , described in exhibit 4.03 to citigroup 2019s current report on form 8-k filed on september 18 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on november 28 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on march 8 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on july 2 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on august 17 , 2007 , in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on november 27 , 2007 , and in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on december 21 , 2007 , respectively , are met .", "these agreements are for the benefit of the holders of citigroup 2019s 6.00% ( 6.00 % ) junior subordinated deferrable interest debentures due 2034 .", "citigroup owns all of the voting securities of these subsidiary trusts .", "these subsidiary trusts have no assets , operations , revenues or cash flows other than those related to the issuance , administration , and repayment of the subsidiary trusts and the subsidiary trusts 2019 common securities .", "these subsidiary trusts 2019 obligations are fully and unconditionally guaranteed by citigroup. ." ]

[ "." ]

[ [ "In millions of dollars", "2011", "2012", "2013", "2014", "2015", "Thereafter" ], [ "Bank", "$35,066", "$38,280", "$8,013", "$7,620", "$6,380", "$17,875" ], [ "Non-bank", "15,213", "25,950", "7,858", "5,187", "3,416", "18,381" ], [ "Parent company", "21,194", "30,004", "21,348", "19,096", "12,131", "88,171" ], [ "Total", "$71,473", "$94,234", "$37,219", "$31,903", "$21,927", "$124,427" ] ]

[ [ "in millions of dollars", "2011", "2012", "2013", "2014", "2015", "thereafter" ], [ "bank", "$ 35066", "$ 38280", "$ 8013", "$ 7620", "$ 6380", "$ 17875" ], [ "non-bank", "15213", "25950", "7858", "5187", "3416", "18381" ], [ "parent company", "21194", "30004", "21348", "19096", "12131", "88171" ], [ "total", "$ 71473", "$ 94234", "$ 37219", "$ 31903", "$ 21927", "$ 124427" ] ]

[]

[ "17 .", "leases we lease certain locomotives , freight cars , and other property .", "the consolidated statements of financial position as of december 31 , 2016 , and 2015 included $ 1997 million , net of $ 1121 million of accumulated depreciation , and $ 2273 million , net of $ 1189 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 , 2016 , were as follows : millions operating leases capital leases ." ]

[ "approximately 96% ( 96 % ) of capital lease payments relate to locomotives .", "rent expense for operating leases with terms exceeding one month was $ 535 million in 2016 , $ 590 million in 2015 , and $ 593 million in 2014 .", "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 94% ( 94 % ) of the recorded liability is related to asserted claims and approximately 6% ( 6 % ) is related to unasserted claims at december 31 , 2016 .", "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 $ 290 million to $ 317 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" ], [ "2017", "$461", "$221" ], [ "2018", "390", "193" ], [ "2019", "348", "179" ], [ "2020", "285", "187" ], [ "2021", "245", "158" ], [ "Later years", "1,314", "417" ], [ "Total minimum lease payments", "$3,043", "$1,355" ], [ "Amount representing interest", "N/A", "(250)" ], [ "Present value of minimum lease payments", "N/A", "$1,105" ] ]

[ [ "millions", "operatingleases", "capitalleases" ], [ "2017", "$ 461", "$ 221" ], [ "2018", "390", "193" ], [ "2019", "348", "179" ], [ "2020", "285", "187" ], [ "2021", "245", "158" ], [ "later years", "1314", "417" ], [ "total minimum lease payments", "$ 3043", "$ 1355" ], [ "amount representing interest", "n/a", "-250 ( 250 )" ], [ "present value of minimum lease payments", "n/a", "$ 1105" ] ]

[ { "arg1": "3043", "arg2": "1355", "op": "divide2-1", "res": "2.246" }, { "arg1": "#0", "arg2": "const_100", "op": "multiply2-2", "res": "224.6" } ]

[ "worldwide distribution channels the following table presents the number of doors by geographic location , in which ralph lauren-branded products distributed by our wholesale segment were sold to consumers in our primary channels of distribution as of march 31 , 2012 : location number of ." ]

[ "in addition , american living and chaps-branded products distributed by our wholesale segment were sold domestically through approximately 1800 doors as of march 31 , 2012 .", "we have three key wholesale customers that generate significant sales volume .", "for fiscal 2012 , these customers in the aggregate accounted for approximately 40% ( 40 % ) of total wholesale revenues , with macy 2019s , inc .", "representing approximately 20% ( 20 % ) of total wholesale revenues .", "our product brands are sold primarily through our own sales forces .", "our wholesale segment maintains its primary showrooms in new york city .", "in addition , we maintain regional showrooms in chicago , dallas , milan , paris , london , munich , madrid , stockholm and tokyo .", "shop-within-shops .", "as a critical element of our distribution to department stores , we and our licensing partners utilize shop-within-shops to enhance brand recognition , to permit more complete merchandising of our lines by the department stores and to differentiate the presentation of products .", "shop-within- shop fixed assets primarily include items such as customized freestanding fixtures , wall cases and components , decorative items and flooring .", "as of march 31 , 2012 , we had approximately 18000 shop-within-shops dedicated to our ralph lauren-branded wholesale products worldwide .", "the size of our shop-within-shops ranges from approximately 300 to 7400 square feet .", "we normally share in the cost of building-out these shop-within-shops with our wholesale customers .", "basic stock replenishment program .", "basic products such as knit shirts , chino pants , oxford cloth shirts , and selected accessories ( including footwear ) and home products can be ordered at any time through our basic stock replenishment programs .", "we generally ship these products within two-to-five days of order receipt .", "our retail segment as of march 31 , 2012 , our retail segment consisted of 379 stores worldwide , totaling approximately 2.9 million gross square feet , 474 concessions- based shop-within-shops and six e-commerce websites .", "the extension of our direct-to-consumer reach is a primary long-term strategic goal .", "ralph lauren retail stores our ralph lauren retail stores reinforce the luxury image and distinct sensibility of our brands and feature exclusive lines that are not sold in domestic department stores .", "we opened 10 new ralph lauren stores , acquired 3 previously licensed stores , and closed 16 ralph lauren stores in fiscal 2012 .", "our retail stores are primarily situated in major upscale street locations and upscale regional malls , generally in large urban markets. ." ]

[ [ "Location", "Number of Doors" ], [ "The Americas", "6,587" ], [ "Europe", "4,377" ], [ "Asia", "83" ], [ "Total", "11,047" ] ]

[ [ "location", "number of doors" ], [ "the americas", "6587" ], [ "europe", "4377" ], [ "asia", "83" ], [ "total", "11047" ] ]

[]

[ "devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) proved undeveloped reserves the following table presents the changes in devon 2019s total proved undeveloped reserves during 2014 ( in mmboe ) . ." ]

[ "at december 31 , 2014 , devon had 689 mmboe of proved undeveloped reserves .", "this represents a 2 percent decrease as compared to 2013 and represents 25 percent of total proved reserves .", "drilling and development activities increased devon 2019s proved undeveloped reserves 161 mmboe and resulted in the conversion of 89 mmboe , or 13 percent , of the 2013 proved undeveloped reserves to proved developed reserves .", "costs incurred related to the development and conversion of devon 2019s proved undeveloped reserves were approximately $ 1.0 billion for 2014 .", "additionally , revisions other than price decreased devon 2019s proved undeveloped reserves 43 mmboe primarily due to evaluations of certain u.s .", "onshore dry-gas areas , which devon does not expect to develop in the next five years .", "the largest revisions , which were approximately 69 mmboe , relate to the dry-gas areas in the barnett shale in north texas .", "a significant amount of devon 2019s proved undeveloped reserves at the end of 2014 related to its jackfish operations .", "at december 31 , 2014 and 2013 , devon 2019s jackfish proved undeveloped reserves were 384 mmboe and 441 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 and steam-oil ratios .", "furthermore , development of these projects involves the up-front construction of steam injection/distribution and bitumen processing facilities .", "due to the large up-front capital investments and large reserves required to provide economic returns , the project conditions meet the specific circumstances requiring a period greater than 5 years for conversion to developed reserves .", "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 2031 .", "price revisions 2014 2013 reserves increased 9 mmboe primarily due to higher gas prices in the barnett shale and the anadarko basin , partially offset by higher bitumen prices , which result in lower after-royalty volumes , in canada .", "2013 2013 reserves increased 94 mmboe primarily due to higher gas prices .", "of this increase , 43 mmboe related to the barnett shale and 19 mmboe related to the rocky mountain area .", "2012 2013 reserves decreased 171 mmboe primarily due to lower gas prices .", "of this decrease , 100 mmboe related to the barnett shale and 25 mmboe related to the rocky mountain area. ." ]

[ [ "", "U.S.", "Canada", "Total" ], [ "Proved undeveloped reserves as of December 31, 2013", "258", "443", "701" ], [ "Extensions and discoveries", "153", "8", "161" ], [ "Revisions due to prices", "(1)", "(34)", "(35)" ], [ "Revisions other than price", "(61)", "18", "(43)" ], [ "Sale of reserves", "(4)", "(2)", "(6)" ], [ "Conversion to proved developed reserves", "(40)", "(49)", "(89)" ], [ "Proved undeveloped reserves as of December 31, 2014", "305", "384", "689" ] ]

[ [ "", "u.s .", "canada", "total" ], [ "proved undeveloped reserves as of december 31 2013", "258", "443", "701" ], [ "extensions and discoveries", "153", "8", "161" ], [ "revisions due to prices", "-1 ( 1 )", "-34 ( 34 )", "-35 ( 35 )" ], [ "revisions other than price", "-61 ( 61 )", "18", "-43 ( 43 )" ], [ "sale of reserves", "-4 ( 4 )", "-2 ( 2 )", "-6 ( 6 )" ], [ "conversion to proved developed reserves", "-40 ( 40 )", "-49 ( 49 )", "-89 ( 89 )" ], [ "proved undeveloped reserves as of december 31 2014", "305", "384", "689" ] ]

[ { "arg1": "689", "arg2": "701", "op": "minus2-1", "res": "-12" }, { "arg1": "#0", "arg2": "701", "op": "divide2-2", "res": "-1.7%" } ]

[ "for additional information on segment results see page 43 .", "income from equity method investments increased by $ 126 million in 2006 from 2005 and increased by $ 98 million in 2005 from 2004 .", "income from our lpg operations in equatorial guinea increased in both periods due to higher sales volumes as a result of the plant expansions completed in 2005 .", "the increase in 2005 also included higher ptc income as a result of higher distillate gross margins .", "cost of revenues increased $ 4.609 billion in 2006 from 2005 and $ 7.106 billion in 2005 from 2004 .", "in both periods the increases were primarily in the rm&t segment and resulted from increases in acquisition costs of crude oil , refinery charge and blend stocks and purchased refined products .", "the increase in both periods was also impacted by higher manufacturing expenses , primarily the result of higher contract services and labor costs in 2006 and higher purchased energy costs in 2005 .", "purchases related to matching buy/sell transactions decreased $ 6.968 billion in 2006 from 2005 and increased $ 3.314 billion in 2005 from 2004 , mostly in the rm&t segment .", "the decrease in 2006 was primarily related to the change in accounting for matching buy/sell transactions discussed above .", "the increase in 2005 was primarily due to increased crude oil prices .", "depreciation , depletion and amortization increased $ 215 million in 2006 from 2005 and $ 125 million in 2005 from 2004 .", "rm&t segment depreciation expense increased in both years as a result of the increase in asset value recorded for our acquisition of the 38 percent interest in mpc on june 30 , 2005 .", "in addition , the detroit refinery expansion completed in the fourth quarter of 2005 contributed to the rm&t depreciation expense increase in 2006 .", "e&p segment depreciation expense for 2006 included a $ 20 million impairment of capitalized costs related to the camden hills field in the gulf of mexico and the associated canyon express pipeline .", "natural gas production from the camden hills field ended in 2006 as a result of increased water production from the well .", "selling , general and administrative expenses increased $ 73 million in 2006 from 2005 and $ 134 million in 2005 from 2004 .", "the 2006 increase was primarily because personnel and staffing costs increased throughout the year primarily as a result of variable compensation arrangements and increased business activity .", "partially offsetting these increases were reductions in stock-based compensation expense .", "the increase in 2005 was primarily a result of increased stock-based compensation expense , due to the increase in our stock price during that year as well as an increase in equity-based awards , which was partially offset by a decrease in expense as a result of severance and pension plan curtailment charges and start-up costs related to egholdings in 2004 .", "exploration expenses increased $ 148 million in 2006 from 2005 and $ 59 million in 2005 from 2004 .", "exploration expense related to dry wells and other write-offs totaled $ 166 million , $ 111 million and $ 47 million in 2006 , 2005 and 2004 .", "exploration expense in 2006 also included $ 47 million for exiting the cortland and empire leases in nova scotia .", "net interest and other financing costs ( income ) reflected a net $ 37 million of income for 2006 , a favorable change of $ 183 million from the net $ 146 million expense in 2005 .", "net interest and other financing costs decreased $ 16 million in 2005 from 2004 .", "the favorable changes in 2006 included increased interest income due to higher interest rates and average cash balances , foreign currency exchange gains , adjustments to interest on tax issues and greater capitalized interest .", "the decrease in expense for 2005 was primarily a result of increased interest income on higher average cash balances and greater capitalized interest , partially offset by increased interest on potential tax deficiencies and higher foreign exchange losses .", "included in net interest and other financing costs ( income ) are foreign currency gains of $ 16 million , losses of $ 17 million and gains of $ 9 million for 2006 , 2005 and 2004 .", "minority interest in income of mpc decreased $ 148 million in 2005 from 2004 due to our acquisition of the 38 percent interest in mpc on june 30 , 2005 .", "provision for income taxes increased $ 2.308 billion in 2006 from 2005 and $ 979 million in 2005 from 2004 , primarily due to the $ 4.259 billion and $ 2.691 billion increases in income from continuing operations before income taxes .", "the increase in our effective income tax rate in 2006 was primarily a result of the income taxes related to our libyan operations , where the statutory income tax rate is in excess of 90 percent .", "the following is an analysis of the effective income tax rates for continuing operations for 2006 , 2005 and 2004 .", "see note 11 to the consolidated financial statements for further discussion. ." ]

[ "." ]

[ [ "", "2006", "2005", "2004" ], [ "Statutory U.S. income tax rate", "35.0%", "35.0%", "35.0%" ], [ "Effects of foreign operations, including foreign tax credits", "9.9", "(0.8)", "0.5" ], [ "State and local income taxes net of federal income tax effects", "1.9", "2.5", "1.6" ], [ "Other tax effects", "(2.0)", "(0.4)", "(0.9)" ], [ "Effective income tax rate for continuing operations", "44.8%", "36.3%", "36.2%" ] ]

[ [ "", "2006", "2005", "2004" ], [ "statutory u.s . income tax rate", "35.0% ( 35.0 % )", "35.0% ( 35.0 % )", "35.0% ( 35.0 % )" ], [ "effects of foreign operations including foreign tax credits", "9.9", "-0.8 ( 0.8 )", "0.5" ], [ "state and local income taxes net of federal income tax effects", "1.9", "2.5", "1.6" ], [ "other tax effects", "-2.0 ( 2.0 )", "-0.4 ( 0.4 )", "-0.9 ( 0.9 )" ], [ "effective income tax rate for continuing operations", "44.8% ( 44.8 % )", "36.3% ( 36.3 % )", "36.2% ( 36.2 % )" ] ]

[ { "arg1": "9.9", "arg2": "0.5", "op": "minus1-1", "res": "9.4" }, { "arg1": "#0", "arg2": "0.5", "op": "divide1-2", "res": "1880%" } ]

[ "management 2019s discussion and analysis of financial condition and results of operations 82 fifth third bancorp to 100 million shares of its outstanding common stock in the open market or in privately negotiated transactions , and to utilize any derivative or similar instrument to affect share repurchase transactions .", "this share repurchase authorization replaced the board 2019s previous authorization .", "on may 21 , 2013 , the bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the bancorp purchased 25035519 shares , or approximately $ 539 million , of its outstanding common stock on may 24 , 2013 .", "the bancorp repurchased the shares of its common stock as part of its 100 million share repurchase program previously announced on march 19 , 2013 .", "at settlement of the forward contract on october 1 , 2013 , the bancorp received an additional 4270250 shares which were recorded as an adjustment to the basis in the treasury shares purchased on the acquisition date .", "on november 13 , 2013 , the bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the bancorp purchased 8538423 shares , or approximately $ 200 million , of its outstanding common stock on november 18 , 2013 .", "the bancorp repurchased the shares of its common stock as part of its board approved 100 million share repurchase program previously announced on march 19 , 2013 .", "the bancorp expects the settlement of the transaction to occur on or before february 28 , 2014 .", "on december 10 , 2013 , the bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the bancorp purchased 19084195 shares , or approximately $ 456 million , of its outstanding common stock on december 13 , 2013 .", "the bancorp repurchased the shares of its common stock as part of its board approved 100 million share repurchase program previously announced on march 19 , 2013 .", "the bancorp expects the settlement of the transaction to occur on or before march 26 , 2014 .", "on january 28 , 2014 , the bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the bancorp purchased 3950705 shares , or approximately $ 99 million , of its outstanding common stock on january 31 , 2014 .", "the bancorp repurchased the shares of its common stock as part of its board approved 100 million share repurchase program previously announced on march 19 , 2013 .", "the bancorp expects the settlement of the transaction to occur on or before march 26 , 2014 .", "table 61 : share repurchases ." ]

[ "( a ) in march 2013 , the bancorp announced that its board of directors had authorized management to purchase 100 million shares of the bancorp 2019s common stock through the open market or in any private transaction .", "the authorization does not include specific price targets or an expiration date .", "this share repurchase authorization replaces the board 2019s previous authorization pursuant to which approximately 54 million shares remained available for repurchase by the bancorp .", "( b ) excludes 1863097 , 2059003 and 1164254 shares repurchased during 2013 , 2012 , and 2011 , respectively , in connection with various employee compensation plans .", "these repurchases are not included in the calculation for average price paid and do not count against the maximum number of shares that may yet be repurchased under the board of directors 2019 authorization .", "stress tests and ccar the frb issued guidelines known as ccar , which provide a common , conservative approach to ensure bhcs , including the bancorp , hold adequate capital to maintain ready access to funding , continue operations and meet their obligations to creditors and counterparties , and continue to serve as credit intermediaries , even in adverse conditions .", "the ccar process requires the submission of a comprehensive capital plan that assumes a minimum planning horizon of nine quarters under various economic scenarios .", "the mandatory elements of the capital plan are an assessment of the expected use and sources of capital over the planning horizon , a description of all planned capital actions over the planning horizon , a discussion of any expected changes to the bancorp 2019s business plan that are likely to have a material impact on its capital adequacy or liquidity , a detailed description of the bancorp 2019s process for assessing capital adequacy and the bancorp 2019s capital policy .", "the capital plan must reflect the revised capital framework that the frb adopted in connection with the implementation of the basel iii accord , including the framework 2019s minimum regulatory capital ratios and transition arrangements .", "the frb 2019s review of the capital plan will assess the comprehensiveness of the capital plan , the reasonableness of the assumptions and the analysis underlying the capital plan .", "additionally , the frb reviews the robustness of the capital adequacy process , the capital policy and the bancorp 2019s ability to maintain capital above the minimum regulatory capital ratios as they transition to basel iii and above a basel i tier 1 common ratio of 5 percent under baseline and stressful conditions throughout a nine- quarter planning horizon .", "the frb issued stress testing rules that implement section 165 ( i ) ( 1 ) and ( i ) ( 2 ) of the dfa .", "large bhcs , including the bancorp , are subject to the final stress testing rules .", "the rules require both supervisory and company-run stress tests , which provide forward- looking information to supervisors to help assess whether institutions have sufficient capital to absorb losses and support operations during adverse economic conditions .", "in march of 2013 , the frb announced it had completed the 2013 ccar .", "for bhcs that proposed capital distributions in their plan , the frb either objected to the plan or provided a non- objection whereby the frb concurred with the proposed 2013 capital distributions .", "the frb indicated to the bancorp that it did not object to the following proposed capital actions for the period beginning april 1 , 2013 and ending march 31 , 2014 : f0b7 increase in the quarterly common stock dividend to $ 0.12 per share ; f0b7 repurchase of up to $ 750 million in trups subject to the determination of a regulatory capital event and replacement with the issuance of a similar amount of tier ii-qualifying subordinated debt ; f0b7 conversion of the $ 398 million in outstanding series g 8.5% ( 8.5 % ) convertible preferred stock into approximately 35.5 million common shares issued to the holders .", "if this conversion were to occur , the bancorp would intend to repurchase common shares equivalent to those issued in the conversion up to $ 550 million in market value , and issue $ 550 million in preferred stock; ." ]

[ [ "For the years ended December 31", "2013", "2012", "2011" ], [ "Shares authorized for repurchase at January 1", "63,046,682", "19,201,518", "19,201,518" ], [ "Additional authorizations<i>^(a)</i>", "45,541,057", "86,269,178", "-" ], [ "Share repurchases<i>^(b)</i>", "(65,516,126)", "(42,424,014)", "-" ], [ "Shares authorized for repurchase at December 31", "43,071,613", "63,046,682", "19,201,518" ], [ "Average price paid per share", "$18.80", "$14.82", "N/A" ] ]

[ [ "for the years ended december 31", "2013", "2012", "2011" ], [ "shares authorized for repurchase at january 1", "63046682", "19201518", "19201518" ], [ "additional authorizations ( a )", "45541057", "86269178", "-" ], [ "share repurchases ( b )", "-65516126 ( 65516126 )", "-42424014 ( 42424014 )", "-" ], [ "shares authorized for repurchase at december 31", "43071613", "63046682", "19201518" ], [ "average price paid per share", "$ 18.80", "$ 14.82", "n/a" ] ]

[ { "arg1": "18.80", "arg2": "14.82", "op": "minus1-1", "res": "3.98" }, { "arg1": "#0", "arg2": "14.82", "op": "divide1-2", "res": "26.9%" } ]

[ "amount of commitment expiration per period other commercial commitments after millions of dollars total 2010 2011 2012 2013 2014 2014 ." ]

[ "[a] none of the credit facility was used as of december 31 , 2009 .", "[b] $ 400 million of the sale of receivables program was utilized at december 31 , 2009 .", "[c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations .", "[d] none of the letters of credit were drawn upon as of december 31 , 2009 .", "off-balance sheet arrangements sale of receivables 2013 the railroad transfers most of its accounts receivable to union pacific receivables , inc .", "( upri ) , a bankruptcy-remote subsidiary , as part of a sale of receivables facility .", "upri sells , without recourse on a 364-day revolving basis , an undivided interest in such accounts receivable to investors .", "the total capacity to sell undivided interests to investors under the facility was $ 600 million and $ 700 million at december 31 , 2009 and 2008 , respectively .", "the value of the outstanding undivided interest held by investors under the facility was $ 400 million and $ 584 million at december 31 , 2009 and 2008 , respectively .", "during 2009 , upri reduced the outstanding undivided interest held by investors due to a decrease in available receivables .", "the value of the undivided interest held by investors is not included in our consolidated financial statements .", "the value of the undivided interest held by investors was supported by $ 817 million and $ 1015 million of accounts receivable held by upri at december 31 , 2009 and 2008 , respectively .", "at december 31 , 2009 and 2008 , the value of the interest retained by upri was $ 417 million and $ 431 million , respectively .", "this retained interest is included in accounts receivable in our consolidated financial statements .", "the interest sold to investors is sold at carrying value , which approximates fair value , and there is no gain or loss recognized from the transaction .", "the value of the outstanding undivided interest held by investors could fluctuate based upon the availability of eligible receivables and is directly affected by changing business volumes and credit risks , including default and dilution .", "if default or dilution ratios increase one percent , the value of the outstanding undivided interest held by investors would not change as of december 31 , 2009 .", "should our credit rating fall below investment grade , the value of the outstanding undivided interest held by investors would be reduced , and , in certain cases , the investors would have the right to discontinue the facility .", "the railroad services the sold receivables ; however , the railroad does not recognize any servicing asset or liability , as the servicing fees adequately compensate us for these responsibilities .", "the railroad collected approximately $ 13.8 billion and $ 17.8 billion during the years ended december 31 , 2009 and 2008 , respectively .", "upri used certain of these proceeds to purchase new receivables under the facility .", "the costs of the sale of receivables program are included in other income and were $ 9 million , $ 23 million , and $ 35 million for 2009 , 2008 , and 2007 , respectively .", "the costs include interest , which will vary based on prevailing commercial paper rates , program fees paid to banks , commercial paper issuing costs , and fees for unused commitment availability .", "the decrease in the 2009 costs was primarily attributable to lower commercial paper rates and a decrease in the outstanding interest held by investors. ." ]

[ [ "", "", "<i>Amount of Commitment Expiration per Period</i>" ], [ "<i>Other Commercial Commitments</i><i>Millions of Dollars</i>", "<i>Total</i>", "<i>2010</i>", "<i>2011</i>", "<i>2012</i>", "<i>2013</i>", "<i>2014</i>", "<i>After 2014</i>" ], [ "Credit facilities [a]", "$1,900", "$-", "$-", "$1,900", "$-", "$-", "$-" ], [ "Sale of receivables [b]", "600", "600", "-", "-", "-", "-", "-" ], [ "Guarantees [c]", "416", "29", "76", "24", "8", "214", "65" ], [ "Standby letters of credit [d]", "22", "22", "-", "-", "-", "-", "-" ], [ "Total commercial commitments", "$2,938", "$651", "$76", "$1,924", "$8", "$214", "$65" ] ]

[ [ "other commercial commitmentsmillions of dollars", "total", "amount of commitment expiration per period 2010", "amount of commitment expiration per period 2011", "amount of commitment expiration per period 2012", "amount of commitment expiration per period 2013", "amount of commitment expiration per period 2014", "amount of commitment expiration per period after 2014" ], [ "credit facilities [a]", "$ 1900", "$ -", "$ -", "$ 1900", "$ -", "$ -", "$ -" ], [ "sale of receivables [b]", "600", "600", "-", "-", "-", "-", "-" ], [ "guarantees [c]", "416", "29", "76", "24", "8", "214", "65" ], [ "standby letters of credit [d]", "22", "22", "-", "-", "-", "-", "-" ], [ "total commercial commitments", "$ 2938", "$ 651", "$ 76", "$ 1924", "$ 8", "$ 214", "$ 65" ] ]

[ { "arg1": "417", "arg2": "817", "op": "add2-1", "res": "1234" }, { "arg1": "13.8", "arg2": "const_1000", "op": "multiply2-2", "res": "13800" }, { "arg1": "#1", "arg2": "#0", "op": "divide2-3", "res": "11.2" } ]

[ "american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) the following table illustrates the effect on net loss and net loss per share if the company had applied the fair value recognition provisions of sfas no .", "123 to stock-based compensation .", "the estimated fair value of each option is calculated using the black-scholes option-pricing model ( in thousands , except per share amounts ) : ." ]

[ "fair value of financial instruments 2014as of december 31 , 2002 , the carrying amounts of the company 2019s 5.0% ( 5.0 % ) convertible notes , the 2.25% ( 2.25 % ) convertible notes , the 6.25% ( 6.25 % ) convertible notes and the senior notes were approximately $ 450.0 million , $ 210.9 million , $ 212.7 million and $ 1.0 billion , respectively , and the fair values of such notes were $ 291.4 million , $ 187.2 million , $ 144.4 million and $ 780.0 million , respectively .", "as of december 31 , 2001 , the carrying amount of the company 2019s 5.0% ( 5.0 % ) convertible notes , the 2.25% ( 2.25 % ) convertible notes , the 6.25% ( 6.25 % ) convertible notes and the senior notes were approximately $ 450.0 million , $ 204.1 million , $ 212.8 million and $ 1.0 billion , respectively , and the fair values of such notes were $ 268.3 million , $ 173.1 million , $ 158.2 million and $ 805.0 million , respectively .", "fair values were determined based on quoted market prices .", "the carrying values of all other financial instruments reasonably approximate the related fair values as of december 31 , 2002 and 2001 .", "retirement plan 2014the company has a 401 ( k ) plan covering substantially all employees who meet certain age and employment requirements .", "under the plan , the company matches 35% ( 35 % ) of participants 2019 contributions up to a maximum 5% ( 5 % ) of a participant 2019s compensation .", "the company contributed approximately $ 979000 , $ 1540000 and $ 1593000 to the plan for the years ended december 31 , 2002 , 2001 and 2000 , respectively .", "recent accounting pronouncements 2014in june 2001 , the fasb issued sfas no .", "143 , 201caccounting for asset retirement obligations . 201d this statement establishes accounting standards for the recognition and measurement of liabilities associated with the retirement of tangible long-lived assets and the related asset retirement costs .", "the requirements of sfas no .", "143 are effective for the company as of january 1 , 2003 .", "the company will adopt this statement in the first quarter of 2003 and does not expect the impact of adopting this statement to have a material impact on its consolidated financial position or results of operations .", "in august 2001 , the fasb issued sfas no .", "144 , 201caccounting for the impairment or disposal of long-lived assets . 201d sfas no .", "144 supersedes sfas no .", "121 , 201caccounting for the impairment of long-lived assets and for long-lived assets to be disposed of , 201d but retains many of its fundamental provisions .", "sfas no .", "144 also clarifies certain measurement and classification issues from sfas no .", "121 .", "in addition , sfas no .", "144 supersedes the accounting and reporting provisions for the disposal of a business segment as found in apb no .", "30 , 201creporting the results of operations 2014reporting the effects of disposal of a segment of a business and extraordinary , unusual and infrequently occurring events and transactions 201d .", "however , sfas no .", "144 retains the requirement in apb no .", "30 to separately report discontinued operations , and broadens the scope of such requirement to include more types of disposal transactions .", "the scope of sfas no .", "144 excludes goodwill and other intangible assets that are not to be amortized , as the accounting for such items is prescribed by sfas no .", "142 .", "the company implemented sfas no .", "144 on january 1 , 2002 .", "accordingly , all relevant impairment assessments and decisions concerning discontinued operations have been made under this standard in 2002. ." ]

[ [ "", "2002", "2001", "2000" ], [ "Net loss as reported", "$(1,141,879)", "$(450,094)", "$(194,628)" ], [ "Less: Total stock-based employee compensation expense determined under fair value basedmethod for all awards, net of related tax effect", "(38,126)", "(50,540)", "(51,186)" ], [ "Pro-forma net loss", "$(1,180,005)", "$(500,634)", "$(245,814)" ], [ "Basic and diluted net loss per share—as reported", "$(5.84)", "$(2.35)", "$(1.15)" ], [ "Basic and diluted net loss per share—pro-forma", "$(6.04)", "$(2.61)", "$(1.46)" ] ]

[ [ "", "2002", "2001", "2000" ], [ "net loss as reported", "$ -1141879 ( 1141879 )", "$ -450094 ( 450094 )", "$ -194628 ( 194628 )" ], [ "less : total stock-based employee compensation expense determined under fair value basedmethod for all awards net of related tax effect", "-38126 ( 38126 )", "-50540 ( 50540 )", "-51186 ( 51186 )" ], [ "pro-forma net loss", "$ -1180005 ( 1180005 )", "$ -500634 ( 500634 )", "$ -245814 ( 245814 )" ], [ "basic and diluted net loss per share 2014as reported", "$ -5.84 ( 5.84 )", "$ -2.35 ( 2.35 )", "$ -1.15 ( 1.15 )" ], [ "basic and diluted net loss per share 2014pro-forma", "$ -6.04 ( 6.04 )", "$ -2.61 ( 2.61 )", "$ -1.46 ( 1.46 )" ] ]

[]

[ "income tax expense ." ]

[ "operating income ( 1 ) $ 5272 $ 4570 $ 4664 $ 5287 $ 4674 $ 4695 total nonoperating income ( expense ) ( 1 ) ( 2 ) ( 32 ) ( 108 ) ( 69 ) ( 32 ) ( 108 ) ( 70 ) income before income taxes ( 2 ) $ 5240 $ 4462 $ 4595 $ 5255 $ 4566 $ 4625 income tax expense ( 3 ) $ 270 $ 1290 $ 1250 $ 1539 $ 1352 $ 1312 effective tax rate ( 3 ) 5.2% ( 5.2 % ) 28.9% ( 28.9 % ) 27.2% ( 27.2 % ) 29.3% ( 29.3 % ) 29.6% ( 29.6 % ) 28.4% ( 28.4 % ) ( 1 ) see non-gaap financial measures for further information on and reconciliation of as adjusted items .", "( 2 ) net of net income ( loss ) attributable to nci .", "( 3 ) gaap income tax expense and effective tax rate for 2017 reflects $ 1.2 billion of a net tax benefit related to the 2017 tax act .", "the company 2019s tax rate is affected by tax rates in foreign jurisdictions and the relative amount of income earned in those jurisdictions , which the company expects to be fairly consistent in the near term .", "the significant foreign jurisdictions that have lower statutory tax rates than the u.s .", "federal statutory rate of 35% ( 35 % ) include the united kingdom , channel islands , ireland and netherlands .", "2017 .", "income tax expense ( gaap ) reflected : 2022 the following amounts related to the 2017 tax act : 2022 $ 106 million tax expense related to the revaluation of certain deferred income tax assets ; 2022 $ 1758 million noncash tax benefit related to the revaluation of certain deferred income tax liabilities ; 2022 $ 477 million tax expense related to the mandatory deemed repatriation of undistributed foreign earnings and profits .", "2022 a noncash expense of $ 16 million , primarily associated with the revaluation of certain deferred income tax liabilities as a result of domestic state and local tax changes ; and 2022 $ 173 million discrete tax benefits , primarily related to stock-based compensation awards , including $ 151 million related to the adoption of new accounting guidance related to stock-based compensation awards .", "see note 2 , significant accounting policies , for further information .", "the as adjusted effective tax rate of 29.3% ( 29.3 % ) for 2017 excluded the noncash deferred tax revaluation benefit of $ 1758 million and noncash expense of $ 16 million mentioned above as it will not have a cash flow impact and to ensure comparability among periods presented .", "in addition , the deemed repatriation tax expense of $ 477 million has been excluded from the as adjusted results due to the one-time nature and to ensure comparability among periods presented .", "2016 .", "income tax expense ( gaap ) reflected : 2022 a net noncash benefit of $ 30 million , primarily associated with the revaluation of certain deferred income tax liabilities ; and 2022 a benefit from $ 65 million of nonrecurring items , including the resolution of certain outstanding tax matters .", "the as adjusted effective tax rate of 29.6% ( 29.6 % ) for 2016 excluded the net noncash benefit of $ 30 million mentioned above as it will not have a cash flow impact and to ensure comparability among periods presented .", "2015 .", "income tax expense ( gaap ) reflected : 2022 a net noncash benefit of $ 54 million , primarily associated with the revaluation of certain deferred income tax liabilities ; and 2022 a benefit from $ 75 million of nonrecurring items , primarily due to the realization of losses from changes in the company 2019s organizational tax structure and the resolution of certain outstanding tax matters .", "the as adjusted effective tax rate of 28.4% ( 28.4 % ) for 2015 excluded the net noncash benefit of $ 54 million mentioned above , as it will not have a cash flow impact and to ensure comparability among periods presented .", "balance sheet overview as adjusted balance sheet the following table presents a reconciliation of the consolidated statement of financial condition presented on a gaap basis to the consolidated statement of financial condition , excluding the impact of separate account assets and separate account collateral held under securities lending agreements ( directly related to lending separate account securities ) and separate account liabilities and separate account collateral liabilities under securities lending agreements and consolidated sponsored investment funds , including consolidated vies .", "the company presents the as adjusted balance sheet as additional information to enable investors to exclude certain assets that have equal and offsetting liabilities or noncontrolling interests that ultimately do not have an impact on stockholders 2019 equity or cash flows .", "management views the as adjusted balance sheet , which contains non-gaap financial measures , as an economic presentation of the company 2019s total assets and liabilities ; however , it does not advocate that investors consider such non-gaap financial measures in isolation from , or as a substitute for , financial information prepared in accordance with gaap .", "separate account assets and liabilities and separate account collateral held under securities lending agreements separate account assets are maintained by blackrock life limited , a wholly owned subsidiary of the company that is a registered life insurance company in the united kingdom , and represent segregated assets held for purposes of funding individual and group pension contracts .", "the ." ]

[ [ "", "GAAP", "As adjusted" ], [ "(in millions)", "2017", "2016", "2015", "2017", "2016", "2015" ], [ "Operating income⁽¹⁾", "$5,272", "$4,570", "$4,664", "$5,287", "$4,674", "$4,695" ], [ "Total nonoperating income (expense)⁽¹⁾⁽²⁾", "(32)", "(108)", "(69)", "(32)", "(108)", "(70)" ], [ "Income before income taxes⁽²⁾", "$5,240", "$4,462", "$4,595", "$5,255", "$4,566", "$4,625" ], [ "Income tax expense⁽³⁾", "$270", "$1,290", "$1,250", "$1,539", "$1,352", "$1,312" ], [ "Effective tax rate⁽³⁾", "5.2%", "28.9%", "27.2%", "29.3%", "29.6%", "28.4%" ] ]

[ [ "( in millions )", "gaap 2017", "gaap 2016", "gaap 2015", "gaap 2017", "gaap 2016", "2015" ], [ "operating income ( 1 )", "$ 5272", "$ 4570", "$ 4664", "$ 5287", "$ 4674", "$ 4695" ], [ "total nonoperating income ( expense ) ( 1 ) ( 2 )", "-32 ( 32 )", "-108 ( 108 )", "-69 ( 69 )", "-32 ( 32 )", "-108 ( 108 )", "-70 ( 70 )" ], [ "income before income taxes ( 2 )", "$ 5240", "$ 4462", "$ 4595", "$ 5255", "$ 4566", "$ 4625" ], [ "income tax expense ( 3 )", "$ 270", "$ 1290", "$ 1250", "$ 1539", "$ 1352", "$ 1312" ], [ "effective tax rate ( 3 )", "5.2% ( 5.2 % )", "28.9% ( 28.9 % )", "27.2% ( 27.2 % )", "29.3% ( 29.3 % )", "29.6% ( 29.6 % )", "28.4% ( 28.4 % )" ] ]

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

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

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

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

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[ "table of contents the following table discloses purchases of shares of our common stock made by us or on our behalf during the fourth quarter of 2016 .", "period total number of shares purchased average price paid per share total number of shares not purchased as part of publicly announced plans or programs ( a ) total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( b ) ." ]

[ "( a ) the shares reported in this column represent purchases settled in the fourth quarter of 2016 relating to ( i ) our purchases of shares in open-market transactions to meet our obligations under stock-based compensation plans , and ( ii ) our purchases of shares from our employees and non-employee directors in connection with the exercise of stock options , the vesting of restricted stock , and other stock compensation transactions in accordance with the terms of our stock-based compensation plans .", "( b ) on july 13 , 2015 , we announced that our board of directors authorized our purchase of up to $ 2.5 billion of our outstanding common stock .", "this authorization has no expiration date .", "as of december 31 , 2016 , the approximate dollar value of shares that may yet be purchased under the 2015 authorization is $ 40 million .", "on september 21 , 2016 , we announced that our board of directors authorized our purchase of up to an additional $ 2.5 billion of our outstanding common stock with no expiration date .", "as of december 31 , 2016 , no purchases have been made under the 2016 authorization. ." ]

[ [ "Period", "Total Numberof SharesPurchased", "AveragePrice Paidper Share", "Total Number ofShares NotPurchased as Part ofPublicly AnnouncedPlans or Programs (a)", "Total Number ofShares Purchased asPart of PubliclyAnnounced Plans orPrograms", "Approximate DollarValue of Shares thatMay Yet Be PurchasedUnder the Plans orPrograms (b)" ], [ "October 2016", "433,272", "$52.69", "50,337", "382,935", "$2.7 billion" ], [ "November 2016", "667,644", "$62.25", "248,349", "419,295", "$2.6 billion" ], [ "December 2016", "1,559,569", "$66.09", "688", "1,558,881", "$2.5 billion" ], [ "Total", "2,660,485", "$62.95", "299,374", "2,361,111", "$2.5 billion" ] ]

[ [ "period", "total numberof sharespurchased", "averageprice paidper share", "total number ofshares notpurchased as part ofpublicly announcedplans or programs ( a )", "total number ofshares purchased aspart of publiclyannounced plans orprograms", "approximate dollarvalue of shares thatmay yet be purchasedunder the plans orprograms ( b )" ], [ "october 2016", "433272", "$ 52.69", "50337", "382935", "$ 2.7 billion" ], [ "november 2016", "667644", "$ 62.25", "248349", "419295", "$ 2.6 billion" ], [ "december 2016", "1559569", "$ 66.09", "688", "1558881", "$ 2.5 billion" ], [ "total", "2660485", "$ 62.95", "299374", "2361111", "$ 2.5 billion" ] ]

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[ "during the years ended december 31 , 2013 , 2012 , and 2011 , we recognized approximately $ 6.5 million , $ 5.1 million and $ 4.7 million of compensation expense , respectively , for these options .", "as of december 31 , 2013 , there was approximately $ 20.3 million of total unrecognized compensation cost related to unvested stock options , which is expected to be recognized over a weighted average period of three years .", "stock-based compensation effective january 1 , 1999 , we implemented a deferred compensation plan , or the deferred plan , covering certain of our employees , including our executives .", "the shares issued under the deferred plan were granted to certain employees , including our executives and vesting will occur annually upon the completion of a service period or our meeting established financial performance criteria .", "annual vesting occurs at rates ranging from 15% ( 15 % ) to 35% ( 35 % ) once performance criteria are reached .", "a summary of our restricted stock as of december 31 , 2013 , 2012 and 2011 and charges during the years then ended are presented below: ." ]

[ "weighted average fair value of restricted stock granted during the year $ 17386949 $ 7023942 $ 21768084 the fair value of restricted stock that vested during the years ended december 31 , 2013 , 2012 and 2011 was $ 1.6 million , $ 22.4 million and $ 4.3 million , respectively .", "as of december 31 , 2013 , there was $ 17.8 million of total unrecognized compensation cost related to unvested restricted stock , which is expected to be recognized over a weighted average period of approximately 2.7 years .", "for the years ended december 31 , 2013 , 2012 and 2011 , approximately $ 4.5 million , $ 4.1 million and $ 3.4 million , respectively , was capitalized to assets associated with compensation expense related to our long-term compensation plans , restricted stock and stock options .", "we granted ltip units , which include bonus , time-based and performance based awards , with a fair value of $ 27.1 million , zero and $ 8.5 million as of 2013 , 2012 and 2011 , respectively .", "the grant date fair value of the ltip unit awards was calculated in accordance with asc 718 .", "a third party consultant determined the fair value of the ltip units to have a discount from sl green's common stock price .", "the discount was calculated by considering the inherent uncertainty that the ltip units will reach parity with other common partnership units and the illiquidity due to transfer restrictions .", "as of december 31 , 2013 , there was $ 5.0 million of total unrecognized compensation expense related to the time-based and performance based awards , which is expected to be recognized over a weighted average period of approximately 1.5 years .", "during the years ended december 31 , 2013 , 2012 and 2011 , we recorded compensation expense related to bonus , time-based and performance based awards of approximately $ 27.3 million , $ 12.6 million and $ 8.5 million , respectively .", "2010 notional unit long-term compensation plan in december 2009 , the compensation committee of the company's board of directors approved the general terms of the sl green realty corp .", "2010 notional unit long-term compensation program , or the 2010 long-term compensation plan .", "the 2010 long-term compensation plan is a long-term incentive compensation plan pursuant to which award recipients could earn , in the aggregate , from approximately $ 15.0 million up to approximately $ 75.0 million of ltip units in the operating partnership based on our stock price appreciation over three years beginning on december 1 , 2009 ; provided that , if maximum performance had been achieved , approximately $ 25.0 million of awards could be earned at any time after the beginning of the second year and an additional approximately $ 25.0 million of awards could be earned at any time after the beginning of the third year .", "in order to achieve maximum performance under the 2010 long-term compensation plan , our aggregate stock price appreciation during the performance period had to equal or exceed 50% ( 50 % ) .", "the compensation committee determined that maximum performance had been achieved at or shortly after the beginning of each of the second and third years of the performance period and for the full performance period and , accordingly , 366815 ltip units , 385583 ltip units and 327416 ltip units were earned under the 2010 long-term compensation plan in december 2010 , 2011 and 2012 , respectively .", "substantially in accordance with the original terms of the program , 50% ( 50 % ) of these ltip units vested on december 17 , 2012 ( accelerated from the original january 1 , 2013 vesting date ) , 25% ( 25 % ) of these ltip units vested on december 11 , 2013 ( accelerated from the original january 1 , 2014 vesting date ) and the remainder is scheduled to vest on january 1 , 2015 based on ." ]

[ [ "", "2013", "2012", "2011" ], [ "Balance at beginning of year", "2,804,901", "2,912,456", "2,728,290" ], [ "Granted", "192,563", "92,729", "185,333" ], [ "Cancelled", "(3,267)", "(200,284)", "(1,167)" ], [ "Balance at end of year", "2,994,197", "2,804,901", "2,912,456" ], [ "Vested during the year", "21,074", "408,800", "66,299" ], [ "Compensation expense recorded", "$6,713,155", "$6,930,381", "$17,365,401" ], [ "Weighted average fair value of restricted stock granted during the year", "$17,386,949", "$7,023,942", "$21,768,084" ] ]

[ [ "", "2013", "2012", "2011" ], [ "balance at beginning of year", "2804901", "2912456", "2728290" ], [ "granted", "192563", "92729", "185333" ], [ "cancelled", "-3267 ( 3267 )", "-200284 ( 200284 )", "-1167 ( 1167 )" ], [ "balance at end of year", "2994197", "2804901", "2912456" ], [ "vested during the year", "21074", "408800", "66299" ], [ "compensation expense recorded", "$ 6713155", "$ 6930381", "$ 17365401" ], [ "weighted average fair value of restricted stock granted during the year", "$ 17386949", "$ 7023942", "$ 21768084" ] ]

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[ "on may 12 , 2017 , the company 2019s stockholders approved the american water works company , inc .", "2017 omnibus equity compensation plan ( the 201c2017 omnibus plan 201d ) .", "a total of 7.2 million shares of common stock may be issued under the 2017 omnibus plan .", "as of december 31 , 2017 , 7.2 million shares were available for grant under the 2017 omnibus plan .", "the 2017 omnibus plan provides that grants of awards may be in any of the following forms : incentive stock options , nonqualified stock options , stock appreciation rights , stock units , stock awards , other stock-based awards and dividend equivalents , which may be granted only on stock units or other stock-based awards .", "following the approval of the 2017 omnibus plan , no additional awards are to be granted under the 2007 plan .", "however , shares will still be issued under the 2007 plan pursuant to the terms of awards previously issued under that plan prior to may 12 , 2017 .", "the cost of services received from employees in exchange for the issuance of stock options and restricted stock awards is measured based on the grant date fair value of the awards issued .", "the value of stock options and rsus awards at the date of the grant is amortized through expense over the three-year service period .", "all awards granted in 2017 , 2016 and 2015 are classified as equity .", "the company recognizes compensation expense for stock awards over the vesting period of the award .", "the company stratified its grant populations and used historic employee turnover rates to estimate employee forfeitures .", "the estimated rate is compared to the actual forfeitures at the end of the reporting period and adjusted as necessary .", "the following table presents stock-based compensation expense recorded in operation and maintenance expense in the accompanying consolidated statements of operations for the years ended december 31: ." ]

[ "there were no significant stock-based compensation costs capitalized during the years ended december 31 , 2017 , 2016 and 2015 .", "the company receives a tax deduction based on the intrinsic value of the award at the exercise date for stock options and the distribution date for rsus .", "for each award , throughout the requisite service period , the company recognizes the tax benefits , which have been included in deferred income tax assets , related to compensation costs .", "the tax deductions in excess of the benefits recorded throughout the requisite service period are recorded to the consolidated statements of operations and are presented in the financing section of the consolidated statements of cash flows .", "stock options there were no grants of stock options to employees in 2017 .", "in 2016 and 2015 , the company granted non-qualified stock options to certain employees under the 2007 plan .", "the stock options vest ratably over the three-year service period beginning on january 1 of the year of the grant and have no performance vesting conditions .", "expense is recognized using the straight-line method and is amortized over the requisite service period. ." ]

[ [ "", "2017", "2016", "2015" ], [ "Stock options", "$1", "$2", "$2" ], [ "RSUs", "9", "8", "8" ], [ "Nonqualified employee stock purchase plan", "1", "1", "1" ], [ "Stock-based compensation", "11", "11", "11" ], [ "Income tax benefit", "(4)", "(4)", "(4)" ], [ "Stock-based compensation expense, net of tax", "$7", "$7", "$7" ] ]

[ [ "", "2017", "2016", "2015" ], [ "stock options", "$ 1", "$ 2", "$ 2" ], [ "rsus", "9", "8", "8" ], [ "nonqualified employee stock purchase plan", "1", "1", "1" ], [ "stock-based compensation", "11", "11", "11" ], [ "income tax benefit", "-4 ( 4 )", "-4 ( 4 )", "-4 ( 4 )" ], [ "stock-based compensation expense net of tax", "$ 7", "$ 7", "$ 7" ] ]

[]

[ "z i m m e r h o l d i n g s , i n c .", "a n d s u b s i d i a r i e s 2 0 0 4 f o r m 1 0 - k notes to consolidated financial statements ( continued ) the company and implex had been operating since 2000 , the following table summarizes the estimated fair values relating to the development and distribution of reconstructive of the assets acquired and liabilities assumed at the date of implant and trauma products incorporating trabecular metal the implex acquisition : ( in millions ) technology .", "as ofthe merger agreement contains provisions for additional april 23 , 2004annual cash earn-out payments that are based on year-over- current assets $ 23.1year sales growth through 2006 of certain products that ." ]

[ "estimates total earn-out payments , including payments core technology ( 30 year useful life ) 3.6 already made , to be in a range from $ 120 to $ 160 million .", "developed technology ( 30 year useful life ) 103.9 other assets 14.4these earn-out payments represent contingent consideration goodwill 61.0and , in accordance with sfas no .", "141 and eitf 95-8 2018 2018accounting for contingent consideration paid to the total assets acquired 210.5 shareholders of an acquired enterprise in a purchase current liabilities 14.1 deferred taxes 43.3business combination 2019 2019 , are recorded as an additional cost of the transaction upon resolution of the contingency and total liabilities assumed 57.4 therefore increase goodwill .", "net assets acquired $ 153.1the implex acquisition was accounted for under the purchase method of accounting pursuant to sfas no .", "141 .", "4 .", "change in accounting principle accordingly , implex results of operations have been included in the company 2019s consolidated results of operations instruments are hand held devices used by orthopaedic subsequent to april 23 , 2004 , and its respective assets and surgeons during total joint replacement and other surgical liabilities have been recorded at their estimated fair values in procedures .", "effective january 1 , 2003 , instruments are the company 2019s consolidated statement of financial position as recognized as long-lived assets and are included in property , of april 23 , 2004 , with the excess purchase price being plant and equipment .", "undeployed instruments are carried at allocated to goodwill .", "pro forma financial information has not cost , net of allowances for obsolescence .", "instruments in the been included as the acquisition did not have a material field are carried at cost less accumulated depreciation .", "impact upon the company 2019s financial position , results of depreciation is computed using the straight-line method operations or cash flows .", "based on average estimated useful lives , determined the company completed the preliminary purchase price principally in reference to associated product life cycles , allocation in accordance with u.s .", "generally accepted primarily five years .", "in accordance with sfas no .", "144 , the accounting principles .", "the process included interviews with company reviews instruments for impairment whenever management , review of the economic and competitive events or changes in circumstances indicate that the carrying environment and examination of assets including historical value of an asset may not be recoverable .", "an impairment loss performance and future prospects .", "the preliminary purchase would be recognized when estimated future cash flows price allocation was based on information currently available relating to the asset are less than its carrying amount .", "to the company , and expectations and assumptions deemed depreciation of instruments is recognized as selling , general reasonable by the company 2019s management .", "no assurance can and administrative expense , consistent with the classification be given , however , that the underlying assumptions used to of instrument cost in periods prior to january 1 , 2003 .", "estimate expected technology based product revenues , prior to january 1 , 2003 , undeployed instruments were development costs or profitability , or the events associated carried as a prepaid expense at cost , net of allowances for with such technology , will occur as projected .", "the final obsolescence ( $ 54.8 million , net , at december 31 , 2002 ) , and purchase price allocation may vary from the preliminary recognized in selling , general and administrative expense in purchase price allocation .", "the final valuation and associated the year in which the instruments were placed into service .", "purchase price allocation is expected to be completed as the new method of accounting for instruments was adopted soon as possible , but no later than one year from the date of to recognize the cost of these important assets of the acquisition .", "to the extent that the estimates need to be company 2019s business within the consolidated balance sheet adjusted , the company will do so .", "and meaningfully allocate the cost of these assets over the periods benefited , typically five years .", "the effect of the change during the year ended december 31 , 2003 was to increase earnings before cumulative effect of change in accounting principle by $ 26.8 million ( $ 17.8 million net of tax ) , or $ 0.08 per diluted share .", "the cumulative effect adjustment of $ 55.1 million ( net of income taxes of $ 34.0 million ) to retroactively apply the ." ]

[ [ "", "As of April 23, 2004" ], [ "Current assets", "$23.1" ], [ "Property, plant and equipment", "4.5" ], [ "Intangible assets subject to amortization:", "" ], [ "Core technology (30 year useful life)", "3.6" ], [ "Developed technology (30 year useful life)", "103.9" ], [ "Other assets", "14.4" ], [ "Goodwill", "61.0" ], [ "Total assets acquired", "210.5" ], [ "Current liabilities", "14.1" ], [ "Deferred taxes", "43.3" ], [ "Total liabilities assumed", "57.4" ], [ "Net assets acquired", "$153.1" ] ]

[ [ "", "as of april 23 2004" ], [ "current assets", "$ 23.1" ], [ "property plant and equipment", "4.5" ], [ "intangible assets subject to amortization:", "" ], [ "core technology ( 30 year useful life )", "3.6" ], [ "developed technology ( 30 year useful life )", "103.9" ], [ "other assets", "14.4" ], [ "goodwill", "61.0" ], [ "total assets acquired", "210.5" ], [ "current liabilities", "14.1" ], [ "deferred taxes", "43.3" ], [ "total liabilities assumed", "57.4" ], [ "net assets acquired", "$ 153.1" ] ]

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[ "american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) pro forma disclosure 2014the company has adopted the disclosure-only provisions of sfas no .", "123 , as amended by sfas no .", "148 , and has presented such disclosure in note 1 .", "the 201cfair value 201d of each option grant is estimated on the date of grant using the black-scholes option pricing model .", "the weighted average fair values of the company 2019s options granted during 2004 , 2003 and 2002 were $ 7.05 , $ 6.32 , and $ 2.23 per share , respectively .", "key assumptions used to apply this pricing model are as follows: ." ]

[ "voluntary option exchanges 2014in february 2004 , the company issued to eligible employees 1032717 options with an exercise price of $ 11.19 per share , the fair market value of the class a common stock on the date of grant .", "these options were issued in connection with a voluntary option exchange program entered into by the company in august 2003 , where the company accepted for surrender and cancelled options ( having an exercise price of $ 10.25 or greater ) to purchase 1831981 shares of its class a common stock .", "the program , which was offered to both full and part-time employees , excluding the company 2019s executive officers and its directors , called for the grant ( at least six months and one day from the surrender date to employees still employed on that date ) of new options exercisable for two shares of class a common stock for every three shares of class a common stock issuable upon exercise of a surrendered option .", "no options were granted to any employees who participated in the exchange offer between the cancellation date and the new grant date .", "in may 2002 , the company issued to eligible employees 2027612 options with an exercise price of $ 3.84 per share , the fair market value of the class a common stock on the date of grant .", "these options were issued in connection with a voluntary option exchange program entered into by the company in october 2001 , where the company accepted for surrender and cancelled options to purchase 3471211 shares of its class a common stock .", "the program , which was offered to both full and part-time employees , excluding most of the company 2019s executive officers , called for the grant ( at least six months and one day from the surrender date to employees still employed on that date ) of new options exercisable for two shares of class a common stock for every three shares of class a common stock issuable upon exercise of a surrendered option .", "no options were granted to any employees who participated in the exchange offer between the cancellation date and the new grant date .", "atc mexico holding stock option plan 2014the company maintains a stock option plan in its atc mexico subsidiary ( atc mexico plan ) .", "the atc mexico plan provides for the issuance of options to officers , employees , directors and consultants of atc mexico .", "the atc mexico plan limits the number of shares of common stock which may be granted to an aggregate of 360 shares , subject to adjustment based on changes in atc mexico 2019s capital structure .", "during 2002 , atc mexico granted options to purchase 318 shares of atc mexico common stock to officers and employees .", "such options were issued at one time with an exercise price of $ 10000 per share .", "the exercise price per share was at fair market value as determined by the board of directors with the assistance of an independent appraisal performed at the company 2019s request .", "the fair value of atc mexico plan options granted during 2002 were $ 3611 per share as determined by using the black-scholes option pricing model .", "as described in note 10 , all outstanding options were exercised in march 2004 .", "no options under the atc mexico plan were granted in 2004 or 2003 , or exercised or cancelled in 2003 or 2002 , and no options were exercisable as of december 31 , 2003 or 2002 .", "( see note 10. ) ." ]

[ [ "", "2004", "2003", "2002" ], [ "Approximate risk-free interest rate", "4.23%", "4.00%", "4.53%" ], [ "Expected life of option grants", "4 years", "4 years", "5 years" ], [ "Expected volatility of underlying stock (the Company Plan)", "80.6%", "86.6%", "92.3%" ], [ "Expected volatility of underlying stock (ATC Mexico and ATC South America Plans)", "N/A", "N/A", "N/A" ], [ "Expected dividends", "N/A", "N/A", "N/A" ] ]

[ [ "", "2004", "2003", "2002" ], [ "approximate risk-free interest rate", "4.23% ( 4.23 % )", "4.00% ( 4.00 % )", "4.53% ( 4.53 % )" ], [ "expected life of option grants", "4 years", "4 years", "5 years" ], [ "expected volatility of underlying stock ( the company plan )", "80.6% ( 80.6 % )", "86.6% ( 86.6 % )", "92.3% ( 92.3 % )" ], [ "expected volatility of underlying stock ( atc mexico and atc south america plans )", "n/a", "n/a", "n/a" ], [ "expected dividends", "n/a", "n/a", "n/a" ] ]

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

[ "( a ) represents depreciation and amortization , gains and losses on derivative and foreign exchange transactions , deferred income taxes , provisions for uncollectible accounts , pension and postretirement benefit expense , stock compensation expense , impairment charges and other non-cash items .", "cash from operating activities remained strong throughout the 2010 to 2012 time period .", "operating cash flow was favorably impacted in 2012 , compared with 2011 , by lower contributions into our defined benefit pension and postretirement benefit plans ; however , this was partially offset by changes in our working capital position , which was impacted by overall growth in the business .", "the change in the cash flows for income tax receivables and payables in 2011 and 2010 was primarily related to the timing of discretionary pension contributions during 2010 , as discussed further in the following paragraph .", "except for discretionary or accelerated fundings of our plans , contributions to our company-sponsored pension plans have largely varied based on whether any minimum funding requirements are present for individual pension plans .", "2022 in 2012 , we made a $ 355 million required contribution to the ups ibt pension plan .", "2022 in 2011 , we made a $ 1.2 billion contribution to the ups ibt pension plan , which satisfied our 2011 contribution requirements and also approximately $ 440 million in contributions that would not have been required until after 2011 .", "2022 in 2010 , we made $ 2.0 billion in discretionary contributions to our ups retirement and ups pension plans , and $ 980 million in required contributions to our ups ibt pension plan .", "2022 the remaining contributions in the 2010 through 2012 period were largely due to contributions to our international pension plans and u.s .", "postretirement medical benefit plans .", "as discussed further in the 201ccontractual commitments 201d section , we have minimum funding requirements in the next several years , primarily related to the ups ibt pension , ups retirement and ups pension plans .", "as of december 31 , 2012 , the total of our worldwide holdings of cash and cash equivalents was $ 7.327 billion .", "approximately $ 4.211 billion of this amount was held in european subsidiaries with the intended purpose of completing the acquisition of tnt express n.v .", "( see note 16 to the consolidated financial statements ) .", "excluding this portion of cash held outside the u.s .", "for acquisition-related purposes , approximately 50%-60% ( 50%-60 % ) of the remaining cash and cash equivalents are held by foreign subsidiaries throughout the year .", "the amount of cash held by our u.s .", "and foreign subsidiaries fluctuates throughout the year due to a variety of factors , including the timing of cash receipts and disbursements in the normal course of business .", "cash provided by operating activities in the united states continues to be our primary source of funds to finance domestic operating needs , capital expenditures , share repurchases and dividend payments to shareowners .", "to the extent that such amounts represent previously untaxed earnings , the cash held by foreign subsidiaries would be subject to tax if such amounts were repatriated in the form of dividends ; however , not all international cash balances would have to be repatriated in the form of a dividend if returned to the u.s .", "when amounts earned by foreign subsidiaries are expected to be indefinitely reinvested , no accrual for taxes is provided. ." ]

[ [ "", "2012", "2011", "2010" ], [ "Net income", "$807", "$3,804", "$3,338" ], [ "Non-cash operating activities(a)", "7,301", "4,505", "4,398" ], [ "Pension and postretirement plan contributions (UPS-sponsored plans)", "(917)", "(1,436)", "(3,240)" ], [ "Income tax receivables and payables", "280", "236", "(319)" ], [ "Changes in working capital and other noncurrent assets and liabilities", "(148)", "(12)", "(340)" ], [ "Other operating activities", "(107)", "(24)", "(2)" ], [ "Net cash from operating activities", "$7,216", "$7,073", "$3,835" ] ]

[ [ "", "2012", "2011", "2010" ], [ "net income", "$ 807", "$ 3804", "$ 3338" ], [ "non-cash operating activities ( a )", "7301", "4505", "4398" ], [ "pension and postretirement plan contributions ( ups-sponsored plans )", "-917 ( 917 )", "-1436 ( 1436 )", "-3240 ( 3240 )" ], [ "income tax receivables and payables", "280", "236", "-319 ( 319 )" ], [ "changes in working capital and other noncurrent assets and liabilities", "-148 ( 148 )", "-12 ( 12 )", "-340 ( 340 )" ], [ "other operating activities", "-107 ( 107 )", "-24 ( 24 )", "-2 ( 2 )" ], [ "net cash from operating activities", "$ 7216", "$ 7073", "$ 3835" ] ]

[ { "arg1": "7073", "arg2": "3835", "op": "minus1-1", "res": "3238" }, { "arg1": "#0", "arg2": "3835", "op": "divide1-2", "res": "84%" } ]

[ "notes to consolidated financial statements ( continued ) note 3 2014financial instruments ( continued ) accounts receivable trade receivables the company distributes its products through third-party distributors and resellers and directly to certain education , consumer , and commercial 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 does attempt to limit credit risk on trade receivables with credit insurance for certain customers in latin america , europe , asia , and australia and by arranging with third- party financing companies to provide flooring arrangements and other loan and lease programs to the company 2019s direct customers .", "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 .", "however , considerable trade receivables that are not covered by collateral , third-party flooring arrangements , or credit insurance are outstanding with the company 2019s distribution and retail channel partners .", "no customer accounted for more than 10% ( 10 % ) of trade receivables as of september 30 , 2006 or september 24 , 2005 .", "the following table summarizes the activity in the allowance for doubtful accounts ( in millions ) : september 30 , september 24 , september 25 ." ]

[ "( a ) represents amounts written off against the allowance , net of recoveries .", "vendor non-trade receivables the company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of raw material components to these manufacturing vendors who manufacture sub-assemblies or assemble final products for the company .", "the company purchases these raw material components directly from suppliers .", "these non-trade receivables , which are included in the consolidated balance sheets in other current assets , totaled $ 1.6 billion and $ 417 million as of september 30 , 2006 and september 24 , 2005 , respectively .", "the company does not reflect the sale of these components in net sales and does not recognize any profits on these sales until the products are sold through to the end customer at which time the profit is recognized as a reduction of cost of sales .", "derivative financial instruments the company uses derivatives to partially offset its business exposure to foreign exchange risk .", "foreign currency forward and option contracts are used to offset the foreign exchange risk on certain existing assets and liabilities and to hedge the foreign exchange risk on expected future cash flows on certain forecasted revenue and cost of sales .", "from time to time , the company enters into interest rate derivative agreements to modify the interest rate profile of certain investments and debt .", "the company 2019s accounting policies for these instruments are based on whether the instruments are designated as hedge or non-hedge instruments .", "the company records all derivatives on the balance sheet at fair value. ." ]

[ [ "", "September 30, 2006", "September 24, 2005", "September 25, 2004" ], [ "Beginning allowance balance", "$46", "$47", "$49" ], [ "Charged to costs and expenses", "17", "8", "3" ], [ "Deductions(a)", "(11)", "(9)", "(5)" ], [ "Ending allowance balance", "$52", "$46", "$47" ] ]

[ [ "", "september 30 2006", "september 24 2005", "september 25 2004" ], [ "beginning allowance balance", "$ 46", "$ 47", "$ 49" ], [ "charged to costs and expenses", "17", "8", "3" ], [ "deductions ( a )", "-11 ( 11 )", "-9 ( 9 )", "-5 ( 5 )" ], [ "ending allowance balance", "$ 52", "$ 46", "$ 47" ] ]

[ { "arg1": "52", "arg2": "46", "op": "minus1-1", "res": "6" }, { "arg1": "#0", "arg2": "46", "op": "divide1-2", "res": "13.0%" } ]

[ "jpmorgan chase & co./2014 annual report 125 lending-related commitments the firm uses lending-related financial instruments , such as commitments ( including revolving credit facilities ) and guarantees , to meet the financing needs of its customers .", "the contractual amounts of these financial instruments represent the maximum possible credit risk should the counterparties draw down on these commitments or the firm fulfills its obligations under these guarantees , and the counterparties subsequently fail to perform according to the terms of these contracts .", "in the firm 2019s view , the total contractual amount of these wholesale lending-related commitments is not representative of the firm 2019s actual future credit exposure or funding requirements .", "in determining the amount of credit risk exposure the firm has to wholesale lending-related commitments , which is used as the basis for allocating credit risk capital to these commitments , the firm has established a 201cloan-equivalent 201d amount for each commitment ; this amount represents the portion of the unused commitment or other contingent exposure that is expected , based on average portfolio historical experience , to become drawn upon in an event of a default by an obligor .", "the loan-equivalent amount of the firm 2019s lending- related commitments was $ 229.6 billion and $ 218.9 billion as of december 31 , 2014 and 2013 , respectively .", "clearing services the firm provides clearing services for clients entering into securities and derivative transactions .", "through the provision of these services the firm is exposed to the risk of non-performance by its clients and may be required to share in losses incurred by central counterparties ( 201cccps 201d ) .", "where possible , the firm seeks to mitigate its credit risk to its clients through the collection of adequate margin at inception and throughout the life of the transactions and can also cease provision of clearing services if clients do not adhere to their obligations under the clearing agreement .", "for further discussion of clearing services , see note 29 .", "derivative contracts in the normal course of business , the firm uses derivative instruments predominantly for market-making activities .", "derivatives enable customers to manage exposures to fluctuations in interest rates , currencies and other markets .", "the firm also uses derivative instruments to manage its own credit exposure .", "the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed .", "for otc derivatives the firm is exposed to the credit risk of the derivative counterparty .", "for exchange-traded derivatives ( 201cetd 201d ) such as futures and options , and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp .", "where possible , the firm seeks to mitigate its credit risk exposures arising from derivative transactions through the use of legally enforceable master netting arrangements and collateral agreements .", "for further discussion of derivative contracts , counterparties and settlement types , see note 6 .", "the following table summarizes the net derivative receivables for the periods presented .", "derivative receivables ." ]

[ "derivative receivables reported on the consolidated balance sheets were $ 79.0 billion and $ 65.8 billion at december 31 , 2014 and 2013 , respectively .", "these amounts represent the fair value of the derivative contracts , after giving effect to legally enforceable master netting agreements and cash collateral held by the firm .", "however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s .", "government and agency securities and other g7 government bonds ) and other cash collateral held by the firm aggregating $ 19.6 billion and $ 14.4 billion at december 31 , 2014 and 2013 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor .", "in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily : cash ; g7 government securities ; other liquid government-agency and guaranteed securities ; and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date .", "although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative transactions move in the firm 2019s favor .", "as of december 31 , 2014 and 2013 , the firm held $ 48.6 billion and $ 50.8 billion , respectively , of this additional collateral .", "the prior period amount has been revised to conform with the current period presentation .", "the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit .", "for additional information on the firm 2019s use of collateral agreements , see note 6. ." ]

[ [ "December 31, (in millions)", "2014", "2013" ], [ "Interest rate", "$33,725", "$25,782" ], [ "Credit derivatives", "1,838", "1,516" ], [ "Foreign exchange", "21,253", "16,790" ], [ "Equity", "8,177", "12,227" ], [ "Commodity", "13,982", "9,444" ], [ "Total, net of cash collateral", "78,975", "65,759" ], [ "Liquid securities and other cash collateral held against derivative receivables", "(19,604)", "(14,435)" ], [ "Total, net of all collateral", "$59,371", "$51,324" ] ]

[ [ "december 31 ( in millions )", "2014", "2013" ], [ "interest rate", "$ 33725", "$ 25782" ], [ "credit derivatives", "1838", "1516" ], [ "foreign exchange", "21253", "16790" ], [ "equity", "8177", "12227" ], [ "commodity", "13982", "9444" ], [ "total net of cash collateral", "78975", "65759" ], [ "liquid securities and other cash collateral held against derivative receivables", "-19604 ( 19604 )", "-14435 ( 14435 )" ], [ "total net of all collateral", "$ 59371", "$ 51324" ] ]

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[ "item 7 .", "management 2019s discussion and analysis of financial condition and results of operations we are an international energy company with operations in the u.s. , canada , africa , the middle east and europe .", "our operations are organized into three reportable segments : 2022 e&p which explores for , produces and markets liquid hydrocarbons and natural gas on a worldwide basis .", "2022 osm which mines , extracts and transports bitumen from oil sands deposits in alberta , canada , and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil .", "2022 ig which produces and markets products manufactured from natural gas , such as lng and methanol , in e.g .", "certain sections of management 2019s discussion and analysis of financial condition and results of operations include forward- looking statements concerning trends or events potentially affecting our business .", "these statements typically contain words such as \"anticipates\" \"believes\" \"estimates\" \"expects\" \"targets\" \"plans\" \"projects\" \"could\" \"may\" \"should\" \"would\" or similar words indicating that future outcomes are uncertain .", "in accordance with \"safe harbor\" provisions of the private securities litigation reform act of 1995 , these statements are accompanied by cautionary language identifying important factors , though not necessarily all such factors , which could cause future outcomes to differ materially from those set forth in forward-looking statements .", "for additional risk factors affecting our business , see item 1a .", "risk factors in this annual report on form 10-k .", "management 2019s discussion and analysis of financial condition and results of operations should be read in conjunction with the information under item 1 .", "business , item 1a .", "risk factors and item 8 .", "financial statements and supplementary data found in this annual report on form 10-k .", "spin-off downstream business on june 30 , 2011 , the spin-off of marathon 2019s downstream business was completed , creating two independent energy companies : marathon oil and mpc .", "marathon stockholders at the close of business on the record date of june 27 , 2011 received one share of mpc common stock for every two shares of marathon common stock held .", "a private letter tax ruling received in june 2011 from the irs affirmed the tax-free nature of the spin-off .", "activities related to the downstream business have been treated as discontinued operations in 2011 and 2010 ( see item 8 .", "financial statements and supplementary data 2013 note 3 to the consolidated financial statements for additional information ) .", "overview 2013 market conditions exploration and production prevailing prices for the various grades of crude oil and natural gas that we produce significantly impact our revenues and cash flows .", "the following table lists benchmark crude oil and natural gas price annual averages for the past three years. ." ]

[ "henry hub natural gas ( dollars per mmbtu ) ( a ) $ 2.79 $ 4.04 $ 4.39 ( a ) settlement date average .", "liquid hydrocarbon 2013 prices of crude oil have been volatile in recent years , but less so when comparing annual averages for 2012 and 2011 .", "in 2011 , crude prices increased over 2010 levels , with increases in brent averages outstripping those in wti .", "the quality , location and composition of our liquid hydrocarbon production mix will cause our u.s .", "liquid hydrocarbon realizations to differ from the wti benchmark .", "in 2012 , 2011 and 2010 , the percentage of our u.s .", "crude oil and condensate production that was sour averaged 37 percent , 58 percent and 68 percent .", "sour crude contains more sulfur and tends to be heavier than light sweet crude oil so that refining it is more costly and produces lower value products ; therefore , sour crude is considered of lower quality and typically sells at a discount to wti .", "the percentage of our u.s .", "crude and condensate production that is sour has been decreasing as onshore production from the eagle ford and bakken shale plays increases and production from the gulf of mexico declines .", "in recent years , crude oil sold along the u.s .", "gulf coast has been priced at a premium to wti because the louisiana light sweet benchmark has been tracking brent , while production from inland areas farther from large refineries has been at a discount to wti .", "ngls were 10 percent , 7 percent and 6 percent of our u.s .", "liquid hydrocarbon sales in 2012 , 2011 and 2010 .", "in 2012 , our sales of ngls increased due to our development of u.s .", "unconventional liquids-rich plays. ." ]

[ [ "Benchmark", "2012", "2011", "2010" ], [ "WTI crude oil(Dollars per bbl)", "$94.15", "$95.11", "$79.61" ], [ "Brent (Europe) crude oil(Dollars per bbl)", "$111.65", "$111.26", "$79.51" ], [ "Henry Hub natural gas(Dollars per mmbtu)^(a)", "$2.79", "$4.04", "$4.39" ] ]

[ [ "benchmark", "2012", "2011", "2010" ], [ "wti crude oil ( dollars per bbl )", "$ 94.15", "$ 95.11", "$ 79.61" ], [ "brent ( europe ) crude oil ( dollars per bbl )", "$ 111.65", "$ 111.26", "$ 79.51" ], [ "henry hub natural gas ( dollars per mmbtu ) ( a )", "$ 2.79", "$ 4.04", "$ 4.39" ] ]

[]

[ "management 2019s discussion and analysis of financial condition and results of operations ( continued ) the following table presents average u.s .", "and non-u.s .", "short-duration advances for the years ended december 31 : years ended december 31 ." ]

[ "although average short-duration advances for the year ended december 31 , 2013 increased compared to the year ended december 31 , 2012 , such average advances remained low relative to historical levels , mainly the result of clients continuing to hold higher levels of liquidity .", "average other interest-earning assets increased to $ 11.16 billion for the year ended december 31 , 2013 from $ 7.38 billion for the year ended december 31 , 2012 .", "the increased levels were primarily the result of higher levels of cash collateral provided in connection with our participation in principal securities finance transactions .", "aggregate average interest-bearing deposits increased to $ 109.25 billion for the year ended december 31 , 2013 from $ 98.39 billion for the year ended december 31 , 2012 .", "this increase was mainly due to higher levels of non-u.s .", "transaction accounts associated with the growth of new and existing business in assets under custody and administration .", "future transaction account levels will be influenced by the underlying asset servicing business , as well as market conditions , including the general levels of u.s .", "and non-u.s .", "interest rates .", "average other short-term borrowings declined to $ 3.79 billion for the year ended december 31 , 2013 from $ 4.68 billion for the year ended december 31 , 2012 , as higher levels of client deposits provided additional liquidity .", "average long-term debt increased to $ 8.42 billion for the year ended december 31 , 2013 from $ 7.01 billion for the year ended december 31 , 2012 .", "the increase primarily reflected the issuance of $ 1.0 billion of extendible notes by state street bank in december 2012 , the issuance of $ 1.5 billion of senior and subordinated debt in may 2013 , and the issuance of $ 1.0 billion of senior debt in november 2013 .", "this increase was partly offset by maturities of $ 1.75 billion of senior debt in the second quarter of 2012 .", "average other interest-bearing liabilities increased to $ 6.46 billion for the year ended december 31 , 2013 from $ 5.90 billion for the year ended december 31 , 2012 , primarily the result of higher levels of cash collateral received from clients in connection with our participation in principal securities finance transactions .", "several factors could affect future levels of our net interest revenue and margin , including the mix of client liabilities ; actions of various central banks ; changes in u.s .", "and non-u.s .", "interest rates ; changes in the various yield curves around the world ; revised or proposed regulatory capital or liquidity standards , or interpretations of those standards ; the amount of discount accretion generated by the former conduit securities that remain in our investment securities portfolio ; and the yields earned on securities purchased compared to the yields earned on securities sold or matured .", "based on market conditions and other factors , we continue to reinvest the majority of the proceeds from pay- downs and maturities of investment securities in highly-rated securities , such as u.s .", "treasury and agency securities , federal agency mortgage-backed securities and u.s .", "and non-u.s .", "mortgage- and asset-backed securities .", "the pace at which we continue to reinvest and the types of investment securities purchased will depend on the impact of market conditions and other factors over time .", "we expect these factors and the levels of global interest rates to dictate what effect our reinvestment program will have on future levels of our net interest revenue and net interest margin. ." ]

[ [ "(In millions)", "2013", "2012", "2011" ], [ "Average U.S. short-duration advances", "$2,356", "$1,972", "$1,994" ], [ "Average non-U.S. short-duration advances", "1,393", "1,393", "1,585" ], [ "Average total short-duration advances", "$3,749", "$3,365", "$3,579" ] ]

[ [ "( in millions )", "2013", "2012", "2011" ], [ "average u.s . short-duration advances", "$ 2356", "$ 1972", "$ 1994" ], [ "average non-u.s . short-duration advances", "1393", "1393", "1585" ], [ "average total short-duration advances", "$ 3749", "$ 3365", "$ 3579" ] ]

[]

[ "page 59 of 94 notes to consolidated financial statements ball corporation and subsidiaries 13 .", "debt and interest costs ( continued ) long-term debt obligations outstanding at december 31 , 2007 , have maturities of $ 127.1 million , $ 160 million , $ 388.4 million , $ 625.1 million and $ 550.3 million for the years ending december 31 , 2008 through 2012 , respectively , and $ 456.1 million thereafter .", "ball provides letters of credit in the ordinary course of business to secure liabilities recorded in connection with industrial development revenue bonds and certain self-insurance arrangements .", "letters of credit outstanding at december 31 , 2007 and 2006 , were $ 41 million and $ 52.4 million , respectively .", "the notes payable and senior credit facilities are guaranteed on a full , unconditional and joint and several basis by certain of the company 2019s domestic wholly owned subsidiaries .", "certain foreign denominated tranches of the senior credit facilities are similarly guaranteed by certain of the company 2019s wholly owned foreign subsidiaries .", "note 22 contains further details as well as condensed , consolidating financial information for the company , segregating the guarantor subsidiaries and non-guarantor subsidiaries .", "the company was not in default of any loan agreement at december 31 , 2007 , and has met all debt payment obligations .", "the u.s .", "note agreements , bank credit agreement and industrial development revenue bond agreements contain certain restrictions relating to dividend payments , share repurchases , investments , financial ratios , guarantees and the incurrence of additional indebtedness .", "on march 27 , 2006 , ball expanded its senior secured credit facilities with the addition of a $ 500 million term d loan facility due in installments through october 2011 .", "also on march 27 , 2006 , ball issued at a price of 99.799 percent $ 450 million of 6.625% ( 6.625 % ) senior notes ( effective yield to maturity of 6.65 percent ) due in march 2018 .", "the proceeds from these financings were used to refinance existing u.s .", "can debt with ball corporation debt at lower interest rates , acquire certain north american plastic container net assets from alcan and reduce seasonal working capital debt .", "( see note 3 for further details of the acquisitions. ) on october 13 , 2005 , ball refinanced its senior secured credit facilities to extend debt maturities at lower interest rate spreads and provide the company with additional borrowing capacity for future growth .", "during the third and fourth quarters of 2005 , ball redeemed its 7.75% ( 7.75 % ) senior notes due in august 2006 .", "the refinancing and senior note redemptions resulted in a debt refinancing charge of $ 19.3 million ( $ 12.3 million after tax ) for the related call premium and unamortized debt issuance costs .", "a summary of total interest cost paid and accrued follows: ." ]

[ "( a ) includes $ 6.6 million paid in 2005 in connection with the redemption of the company 2019s senior and senior subordinated notes. ." ]

[ [ "($ in millions)", "2007", "2006", "2005" ], [ "Interest costs before refinancing costs", "$155.8", "$142.5", "$102.4" ], [ "Debt refinancing costs", "–", "–", "19.3" ], [ "Total interest costs", "155.8", "142.5", "121.7" ], [ "Amounts capitalized", "(6.4)", "(8.1)", "(5.3)" ], [ "Interest expense", "$149.4", "$134.4", "$116.4" ], [ "Interest paid during the year(a)", "$153.9", "$125.4", "$138.5" ] ]

[ [ "( $ in millions )", "2007", "2006", "2005" ], [ "interest costs before refinancing costs", "$ 155.8", "$ 142.5", "$ 102.4" ], [ "debt refinancing costs", "2013", "2013", "19.3" ], [ "total interest costs", "155.8", "142.5", "121.7" ], [ "amounts capitalized", "-6.4 ( 6.4 )", "-8.1 ( 8.1 )", "-5.3 ( 5.3 )" ], [ "interest expense", "$ 149.4", "$ 134.4", "$ 116.4" ], [ "interest paid during the year ( a )", "$ 153.9", "$ 125.4", "$ 138.5" ] ]

[ { "arg1": "134.4", "arg2": "116.4", "op": "minus2-1", "res": "18.0" }, { "arg1": "#0", "arg2": "116.4", "op": "divide2-2", "res": "15.5%" } ]

[ "kimco realty corporation and subsidiaries notes to consolidated financial statements , continued investment in retail store leases the company has interests in various retail store leases relating to the anchor store premises in neighborhood and community shopping centers .", "these premises have been sublet to retailers who lease the stores pursuant to net lease agreements .", "income from the investment in these retail store leases during the years ended december 31 , 2008 , 2007 and 2006 , was approximately $ 2.7 million , $ 1.2 million and $ 1.3 million , respectively .", "these amounts represent sublease revenues during the years ended december 31 , 2008 , 2007 and 2006 , of approximately $ 7.1 million , $ 7.7 million and $ 8.2 million , respectively , less related expenses of $ 4.4 million , $ 5.1 million and $ 5.7 million , respectively , and an amount which , in management 2019s estimate , reasonably provides for the recovery of the investment over a period representing the expected remaining term of the retail store leases .", "the company 2019s future minimum revenues under the terms of all non-cancelable tenant subleases and future minimum obligations through the remaining terms of its retail store leases , assuming no new or renegotiated leases are executed for such premises , for future years are as follows ( in millions ) : 2009 , $ 5.6 and $ 3.8 ; 2010 , $ 5.4 and $ 3.7 ; 2011 , $ 4.5 and $ 3.1 ; 2012 , $ 2.3 and $ 2.1 ; 2013 , $ 1.0 and $ 1.3 and thereafter , $ 1.4 and $ 0.5 , respectively .", "leveraged lease during june 2002 , the company acquired a 90% ( 90 % ) equity participation interest in an existing leveraged lease of 30 properties .", "the properties are leased under a long-term bond-type net lease whose primary term expires in 2016 , with the lessee having certain renewal option rights .", "the company 2019s cash equity investment was approximately $ 4.0 million .", "this equity investment is reported as a net investment in leveraged lease in accordance with sfas no .", "13 , accounting for leases ( as amended ) .", "from 2002 to 2007 , 18 of these properties were sold , whereby the proceeds from the sales were used to pay down the mortgage debt by approximately $ 31.2 million .", "as of december 31 , 2008 , the remaining 12 properties were encumbered by third-party non-recourse debt of approximately $ 42.8 million that is scheduled to fully amortize during the primary term of the lease from a portion of the periodic net rents receivable under the net lease .", "as an equity participant in the leveraged lease , the company has no recourse obligation for principal or interest payments on the debt , which is collateralized by a first mortgage lien on the properties and collateral assignment of the lease .", "accordingly , this obligation has been offset against the related net rental receivable under the lease .", "at december 31 , 2008 and 2007 , the company 2019s net investment in the leveraged lease consisted of the following ( in millions ) : ." ]

[ "9 .", "mortgages and other financing receivables : the company has various mortgages and other financing receivables which consist of loans acquired and loans originated by the company .", "for a complete listing of the company 2019s mortgages and other financing receivables at december 31 , 2008 , see financial statement schedule iv included on page 141 of this annual report on form 10-k .", "reconciliation of mortgage loans and other financing receivables on real estate: ." ]

[ [ "", "2008", "2007" ], [ "Remaining net rentals", "$53.8", "$55.0" ], [ "Estimated unguaranteed residual value", "31.7", "36.0" ], [ "Non-recourse mortgage debt", "(38.5)", "(43.9)" ], [ "Unearned and deferred income", "(43.0)", "(43.3)" ], [ "Net investment in leveraged lease", "$ 4.0", "$ 3.8" ] ]

[ [ "", "2008", "2007" ], [ "remaining net rentals", "$ 53.8", "$ 55.0" ], [ "estimated unguaranteed residual value", "31.7", "36.0" ], [ "non-recourse mortgage debt", "-38.5 ( 38.5 )", "-43.9 ( 43.9 )" ], [ "unearned and deferred income", "-43.0 ( 43.0 )", "-43.3 ( 43.3 )" ], [ "net investment in leveraged lease", "$ 4.0", "$ 3.8" ] ]

[ { "arg1": "5.6", "arg2": "5.4", "op": "add1-1", "res": "11" }, { "arg1": "#0", "arg2": "4.5", "op": "add1-2", "res": "15.5" } ]

[ "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 , 2002 in the s&p 500 index , the dow jones transportation average , and the class b common stock of united parcel service , inc .", "comparison of five year cumulative total return $ 40.00 $ 60.00 $ 80.00 $ 100.00 $ 120.00 $ 140.00 $ 160.00 $ 180.00 $ 200.00 $ 220.00 2002 20072006200520042003 s&p 500 ups dj transport ." ]

[ "securities authorized for issuance under equity compensation plans the following table provides information as of december 31 , 2007 regarding compensation plans under which our class a common stock is authorized for issuance .", "these plans do not authorize the issuance of our class b common stock. ." ]

[ [ "", "12/31/02", "12/31/03", "12/31/04", "12/31/05", "12/31/06", "12/31/07" ], [ "United Parcel Service, Inc.", "$100.00", "$119.89", "$139.55", "$124.88", "$127.08", "$122.64" ], [ "S&P 500 Index", "$100.00", "$128.68", "$142.68", "$149.69", "$173.33", "$182.85" ], [ "Dow Jones Transportation Average", "$100.00", "$131.84", "$168.39", "$188.00", "$206.46", "$209.40" ] ]

[ [ "", "12/31/02", "12/31/03", "12/31/04", "12/31/05", "12/31/06", "12/31/07" ], [ "united parcel service inc .", "$ 100.00", "$ 119.89", "$ 139.55", "$ 124.88", "$ 127.08", "$ 122.64" ], [ "s&p 500 index", "$ 100.00", "$ 128.68", "$ 142.68", "$ 149.69", "$ 173.33", "$ 182.85" ], [ "dow jones transportation average", "$ 100.00", "$ 131.84", "$ 168.39", "$ 188.00", "$ 206.46", "$ 209.40" ] ]

[ { "arg1": "139.55", "arg2": "119.89", "op": "minus2-1", "res": "19.66" }, { "arg1": "#0", "arg2": "119.89", "op": "divide2-2", "res": "16.4%" } ]

[ "item 1 .", "business loews hotels holding corporation the subsidiaries of loews hotels holding corporation ( 201cloews hotels 201d ) , our wholly owned subsidiary , presently operate the following 18 hotels .", "loews hotels accounted for 2.0% ( 2.0 % ) , 2.9% ( 2.9 % ) and 2.7% ( 2.7 % ) of our consolidated total revenue for the years ended december 31 , 2009 , 2008 and 2007 .", "number of name and location rooms owned , leased or managed loews annapolis hotel 220 owned annapolis , maryland loews coronado bay 440 land lease expiring 2034 san diego , california loews denver hotel 185 owned denver , colorado the don cesar , a loews hotel 347 management contract ( a ) ( b ) st .", "pete beach , florida hard rock hotel , 650 management contract ( c ) at universal orlando orlando , florida loews lake las vegas 493 management contract ( a ) henderson , nevada loews le concorde hotel 405 land lease expiring 2069 quebec city , canada the madison , a loews hotel 353 management contract expiring 2021 ( a ) washington , d.c .", "loews miami beach hotel 790 owned miami beach , florida loews new orleans hotel 285 management contract expiring 2018 ( a ) new orleans , louisiana loews philadelphia hotel 585 owned philadelphia , pennsylvania loews portofino bay hotel , 750 management contract ( c ) at universal orlando orlando , florida loews regency hotel 350 land lease expiring 2013 , with renewal option new york , new york for 47 years loews royal pacific resort 1000 management contract ( c ) at universal orlando orlando , florida loews santa monica beach hotel 340 management contract expiring 2018 , with santa monica , california renewal option for 5 years ( a ) loews vanderbilt hotel 340 owned nashville , tennessee loews ventana canyon 400 management contract expiring 2019 ( a ) tucson , arizona loews hotel vogue 140 owned montreal , canada ( a ) these management contracts are subject to termination rights .", "( b ) a loews hotels subsidiary is a 20% ( 20 % ) owner of the hotel , which is being operated by loews hotels pursuant to a management contract .", "( c ) a loews hotels subsidiary is a 50% ( 50 % ) owner of these hotels located at the universal orlando theme park , through a joint venture with universal studios and the rank group .", "the hotels are on land leased by the joint venture and are operated by loews hotels pursuant to a management contract. ." ]

[ "item 1 .", "business loews hotels holding corporation the subsidiaries of loews hotels holding corporation ( 201cloews hotels 201d ) , our wholly owned subsidiary , presently operate the following 18 hotels .", "loews hotels accounted for 2.0% ( 2.0 % ) , 2.9% ( 2.9 % ) and 2.7% ( 2.7 % ) of our consolidated total revenue for the years ended december 31 , 2009 , 2008 and 2007 .", "number of name and location rooms owned , leased or managed loews annapolis hotel 220 owned annapolis , maryland loews coronado bay 440 land lease expiring 2034 san diego , california loews denver hotel 185 owned denver , colorado the don cesar , a loews hotel 347 management contract ( a ) ( b ) st .", "pete beach , florida hard rock hotel , 650 management contract ( c ) at universal orlando orlando , florida loews lake las vegas 493 management contract ( a ) henderson , nevada loews le concorde hotel 405 land lease expiring 2069 quebec city , canada the madison , a loews hotel 353 management contract expiring 2021 ( a ) washington , d.c .", "loews miami beach hotel 790 owned miami beach , florida loews new orleans hotel 285 management contract expiring 2018 ( a ) new orleans , louisiana loews philadelphia hotel 585 owned philadelphia , pennsylvania loews portofino bay hotel , 750 management contract ( c ) at universal orlando orlando , florida loews regency hotel 350 land lease expiring 2013 , with renewal option new york , new york for 47 years loews royal pacific resort 1000 management contract ( c ) at universal orlando orlando , florida loews santa monica beach hotel 340 management contract expiring 2018 , with santa monica , california renewal option for 5 years ( a ) loews vanderbilt hotel 340 owned nashville , tennessee loews ventana canyon 400 management contract expiring 2019 ( a ) tucson , arizona loews hotel vogue 140 owned montreal , canada ( a ) these management contracts are subject to termination rights .", "( b ) a loews hotels subsidiary is a 20% ( 20 % ) owner of the hotel , which is being operated by loews hotels pursuant to a management contract .", "( c ) a loews hotels subsidiary is a 50% ( 50 % ) owner of these hotels located at the universal orlando theme park , through a joint venture with universal studios and the rank group .", "the hotels are on land leased by the joint venture and are operated by loews hotels pursuant to a management contract. ." ]

[ [ "Name and Location", "Number of Rooms", "Owned, Leased or Managed" ], [ "Loews Annapolis Hotel Annapolis, Maryland", "220", "Owned" ], [ "Loews Coronado Bay San Diego, California", "440", "Land lease expiring 2034" ], [ "Loews Denver Hotel Denver, Colorado", "185", "Owned" ], [ "The Don CeSar, a Loews Hotel St. Pete Beach, Florida", "347", "Management contract (a)(b)" ], [ "Hard Rock Hotel, at Universal Orlando Orlando, Florida", "650", "Management contract (c)" ], [ "Loews Lake Las Vegas Henderson, Nevada", "493", "Management contract (a)" ], [ "Loews Le Concorde Hotel Quebec City, Canada", "405", "Land lease expiring 2069" ], [ "The Madison, a Loews Hotel Washington, D.C.", "353", "Management contract expiring 2021 (a)" ], [ "Loews Miami Beach Hotel Miami Beach, Florida", "790", "Owned" ], [ "Loews New Orleans Hotel New Orleans, Louisiana", "285", "Management contract expiring 2018 (a)" ], [ "Loews Philadelphia Hotel Philadelphia, Pennsylvania", "585", "Owned" ], [ "Loews Portofino Bay Hotel, at Universal Orlando Orlando, Florida", "750", "Management contract (c)" ], [ "Loews Regency Hotel New York, New York", "350", "Land lease expiring 2013, with renewal option for 47 years" ], [ "Loews Royal Pacific Resort at Universal Orlando Orlando, Florida", "1,000", "Management contract (c)" ], [ "Loews Santa Monica Beach Hotel Santa Monica, California", "340", "Management contract expiring 2018, with renewal option for5 years (a)" ], [ "Loews Vanderbilt Hotel Nashville, Tennessee", "340", "Owned" ], [ "Loews Ventana Canyon Tucson, Arizona", "400", "Management contract expiring 2019 (a)" ], [ "Loews Hotel Vogue Montreal, Canada", "140", "Owned" ] ]

[ [ "name and location", "number of rooms", "owned leased or managed" ], [ "loews annapolis hotel annapolis maryland", "220", "owned" ], [ "loews coronado bay san diego california", "440", "land lease expiring 2034" ], [ "loews denver hotel denver colorado", "185", "owned" ], [ "the don cesar a loews hotel st . pete beach florida", "347", "management contract ( a ) ( b )" ], [ "hard rock hotel at universal orlando orlando florida", "650", "management contract ( c )" ], [ "loews lake las vegas henderson nevada", "493", "management contract ( a )" ], [ "loews le concorde hotel quebec city canada", "405", "land lease expiring 2069" ], [ "the madison a loews hotel washington d.c .", "353", "management contract expiring 2021 ( a )" ], [ "loews miami beach hotel miami beach florida", "790", "owned" ], [ "loews new orleans hotel new orleans louisiana", "285", "management contract expiring 2018 ( a )" ], [ "loews philadelphia hotel philadelphia pennsylvania", "585", "owned" ], [ "loews portofino bay hotel at universal orlando orlando florida", "750", "management contract ( c )" ], [ "loews regency hotel new york new york", "350", "land lease expiring 2013 with renewal option for 47 years" ], [ "loews royal pacific resort at universal orlando orlando florida", "1000", "management contract ( c )" ], [ "loews santa monica beach hotel santa monica california", "340", "management contract expiring 2018 with renewal option for5 years ( a )" ], [ "loews vanderbilt hotel nashville tennessee", "340", "owned" ], [ "loews ventana canyon tucson arizona", "400", "management contract expiring 2019 ( a )" ], [ "loews hotel vogue montreal canada", "140", "owned" ] ]

[]

[ "dish network corporation notes to consolidated financial statements - continued ciel ii .", "ciel ii , a canadian dbs satellite , was launched in december 2008 and commenced commercial operation during february 2009 .", "this satellite is accounted for as a capital lease and depreciated over the term of the satellite service agreement .", "we have leased 100% ( 100 % ) of the capacity on ciel ii for an initial 10 year term .", "as of december 31 , 2011 and 2010 , we had $ 500 million capitalized for the estimated fair value of satellites acquired under capital leases included in 201cproperty and equipment , net , 201d with related accumulated depreciation of $ 151 million and $ 109 million , respectively .", "in our consolidated statements of operations and comprehensive income ( loss ) , we recognized $ 43 million , $ 43 million and $ 40 million in depreciation expense on satellites acquired under capital lease agreements during the years ended december 31 , 2011 , 2010 and 2009 , respectively .", "future minimum lease payments under the capital lease obligation , together with the present value of the net minimum lease payments as of december 31 , 2011 are as follows ( in thousands ) : for the years ended december 31 ." ]

[ "the summary of future maturities of our outstanding long-term debt as of december 31 , 2011 is included in the commitments table in note 16 .", "12 .", "income taxes and accounting for uncertainty in income taxes income taxes our income tax policy is to record the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported on our consolidated balance sheets , as well as probable operating loss , tax credit and other carryforwards .", "deferred tax assets are offset by valuation allowances when we believe it is more likely than not that net deferred tax assets will not be realized .", "we periodically evaluate our need for a valuation allowance .", "determining necessary valuation allowances requires us to make assessments about historical financial information as well as the timing of future events , including the probability of expected future taxable income and available tax planning opportunities .", "we file consolidated tax returns in the u.s .", "the income taxes of domestic and foreign subsidiaries not included in the u.s .", "tax group are presented in our consolidated financial statements based on a separate return basis for each tax paying entity .", "as of december 31 , 2011 , we had no net operating loss carryforwards ( 201cnols 201d ) for federal income tax purposes and $ 13 million of nol benefit for state income tax purposes .", "the state nols begin to expire in the year 2020 .", "in addition , there are $ 5 million of tax benefits related to credit carryforwards which are partially offset by a valuation allowance and $ 14 million benefit of capital loss carryforwards which are fully offset by a valuation allowance .", "the credit carryforwards begin to expire in the year 2012. ." ]

[ [ "2012", "$84,715" ], [ "2013", "77,893" ], [ "2014", "76,296" ], [ "2015", "75,970" ], [ "2016", "75,970" ], [ "Thereafter", "314,269" ], [ "Total minimum lease payments", "705,113" ], [ "Less: Amount representing lease of the orbital location and estimated executory costs (primarily insurance and maintenance) including profit thereon, included in total minimum lease payments", "(323,382)" ], [ "Net minimum lease payments", "381,731" ], [ "Less: Amount representing interest", "(109,823)" ], [ "Present value of net minimum lease payments", "271,908" ], [ "Less: Current portion", "(29,202)" ], [ "Long-term portion of capital lease obligations", "$242,706" ] ]

[ [ "2012", "$ 84715" ], [ "2013", "77893" ], [ "2014", "76296" ], [ "2015", "75970" ], [ "2016", "75970" ], [ "thereafter", "314269" ], [ "total minimum lease payments", "705113" ], [ "less : amount representing lease of the orbital location and estimated executory costs ( primarily insurance and maintenance ) including profit thereon included in total minimum lease payments", "-323382 ( 323382 )" ], [ "net minimum lease payments", "381731" ], [ "less : amount representing interest", "-109823 ( 109823 )" ], [ "present value of net minimum lease payments", "271908" ], [ "less : current portion", "-29202 ( 29202 )" ], [ "long-term portion of capital lease obligations", "$ 242706" ] ]

[]

[ "management 2019s discussion and analysis net interest income 2012 versus 2011 .", "net interest income on the consolidated statements of earnings was $ 3.88 billion for 2012 , 25% ( 25 % ) lower than 2011 .", "the decrease compared with 2011 was primarily due to lower average yields on financial instruments owned , at fair value , and collateralized agreements .", "2011 versus 2010 .", "net interest income on the consolidated statements of earnings was $ 5.19 billion for 2011 , 6% ( 6 % ) lower than 2010 .", "the decrease compared with 2010 was primarily due to higher interest expense related to our long-term borrowings and higher dividend expense related to financial instruments sold , but not yet purchased , partially offset by an increase in interest income from higher yielding collateralized agreements .", "operating expenses our operating expenses are primarily influenced by compensation , headcount and levels of business activity .", "compensation and benefits includes salaries , discretionary compensation , amortization of equity awards and other items such as benefits .", "discretionary compensation is significantly impacted by , among other factors , the level of net revenues , overall financial performance , prevailing labor markets , business mix , the structure of our share-based compensation programs and the external environment .", "in the context of more difficult economic and financial conditions , the firm launched an initiative during the second quarter of 2011 to identify areas where we can operate more efficiently and reduce our operating expenses .", "during 2012 and 2011 , we announced targeted annual run rate compensation and non-compensation reductions of approximately $ 1.9 billion in aggregate .", "the table below presents our operating expenses and total staff. ." ]

[ "total staff at period-end 2 32400 33300 35700 1 .", "related revenues are included in 201cmarket making 201d on the consolidated statements of earnings .", "2 .", "includes employees , consultants and temporary staff .", "48 goldman sachs 2012 annual report ." ]

[ [ "", "Year Ended December" ], [ "<i>$ in millions</i>", "2012", "2011", "2010" ], [ "Compensation and benefits", "$12,944", "$12,223", "$15,376" ], [ "U.K. bank payrolltax", "—", "—", "465" ], [ "Brokerage, clearing, exchange anddistribution fees", "2,208", "2,463", "2,281" ], [ "Market development", "509", "640", "530" ], [ "Communications and technology", "782", "828", "758" ], [ "Depreciation and amortization", "1,738", "1,865", "1,889" ], [ "Occupancy", "875", "1,030", "1,086" ], [ "Professional fees", "867", "992", "927" ], [ "Insurance reserves¹", "598", "529", "398" ], [ "Other expenses", "2,435", "2,072", "2,559" ], [ "Total non-compensation expenses", "10,012", "10,419", "10,428" ], [ "Total operating expenses", "$22,956", "$22,642", "$26,269" ], [ "Total staff atperiod-end²", "32,400", "33,300", "35,700" ] ]

[ [ "$ in millions", "year ended december 2012", "year ended december 2011", "year ended december 2010" ], [ "compensation and benefits", "$ 12944", "$ 12223", "$ 15376" ], [ "u.k . bank payrolltax", "2014", "2014", "465" ], [ "brokerage clearing exchange anddistribution fees", "2208", "2463", "2281" ], [ "market development", "509", "640", "530" ], [ "communications and technology", "782", "828", "758" ], [ "depreciation and amortization", "1738", "1865", "1889" ], [ "occupancy", "875", "1030", "1086" ], [ "professional fees", "867", "992", "927" ], [ "insurance reserves1", "598", "529", "398" ], [ "other expenses", "2435", "2072", "2559" ], [ "total non-compensation expenses", "10012", "10419", "10428" ], [ "total operating expenses", "$ 22956", "$ 22642", "$ 26269" ], [ "total staff atperiod-end2", "32400", "33300", "35700" ] ]

[ { "arg1": "32400", "arg2": "33300", "op": "minus2-1", "res": "-900" }, { "arg1": "#0", "arg2": "33300", "op": "divide2-2", "res": "-2.7%" } ]

[ "the hartford financial services group , inc .", "notes to consolidated financial statements ( continued ) 10 .", "sales inducements accounting policy the company currently offers enhanced crediting rates or bonus payments to contract holders on certain of its individual and group annuity products .", "the expense associated with offering a bonus is deferred and amortized over the life of the related contract in a pattern consistent with the amortization of deferred policy acquisition costs .", "amortization expense associated with expenses previously deferred is recorded over the remaining life of the contract .", "consistent with the unlock , the company unlocked the amortization of the sales inducement asset .", "see note 7 for more information concerning the unlock .", "changes in deferred sales inducement activity were as follows for the years ended december 31: ." ]

[ "11 .", "reserves for future policy benefits and unpaid losses and loss adjustment expenses life insurance products accounting policy liabilities for future policy benefits are calculated by the net level premium method using interest , withdrawal and mortality assumptions appropriate at the time the policies were issued .", "the methods used in determining the liability for unpaid losses and future policy benefits are standard actuarial methods recognized by the american academy of actuaries .", "for the tabular reserves , discount rates are based on the company 2019s earned investment yield and the morbidity/mortality tables used are standard industry tables modified to reflect the company 2019s actual experience when appropriate .", "in particular , for the company 2019s group disability known claim reserves , the morbidity table for the early durations of claim is based exclusively on the company 2019s experience , incorporating factors such as gender , elimination period and diagnosis .", "these reserves are computed such that they are expected to meet the company 2019s future policy obligations .", "future policy benefits are computed at amounts that , with additions from estimated premiums to be received and with interest on such reserves compounded annually at certain assumed rates , are expected to be sufficient to meet the company 2019s policy obligations at their maturities or in the event of an insured 2019s death .", "changes in or deviations from the assumptions used for mortality , morbidity , expected future premiums and interest can significantly affect the company 2019s reserve levels and related future operations and , as such , provisions for adverse deviation are built into the long-tailed liability assumptions .", "liabilities for the company 2019s group life and disability contracts , as well as its individual term life insurance policies , include amounts for unpaid losses and future policy benefits .", "liabilities for unpaid losses include estimates of amounts to fully settle known reported claims , as well as claims related to insured events that the company estimates have been incurred but have not yet been reported .", "these reserve estimates are based on known facts and interpretations of circumstances , and consideration of various internal factors including the hartford 2019s experience with similar cases , historical trends involving claim payment patterns , loss payments , pending levels of unpaid claims , loss control programs and product mix .", "in addition , the reserve estimates are influenced by consideration of various external factors including court decisions , economic conditions and public attitudes .", "the effects of inflation are implicitly considered in the reserving process. ." ]

[ [ "", "2011", "2010", "2009" ], [ "Balance, beginning of year", "$459", "$438", "$553" ], [ "Sales inducements deferred", "20", "31", "59" ], [ "Amortization charged to income", "(17)", "(8)", "(105)" ], [ "Amortization — Unlock", "(28)", "(2)", "(69)" ], [ "Balance, end of year", "$434", "$459", "$438" ] ]

[ [ "", "2011", "2010", "2009" ], [ "balance beginning of year", "$ 459", "$ 438", "$ 553" ], [ "sales inducements deferred", "20", "31", "59" ], [ "amortization charged to income", "-17 ( 17 )", "-8 ( 8 )", "-105 ( 105 )" ], [ "amortization 2014 unlock", "-28 ( 28 )", "-2 ( 2 )", "-69 ( 69 )" ], [ "balance end of year", "$ 434", "$ 459", "$ 438" ] ]

[ { "arg1": "20", "arg2": "31", "op": "add1-1", "res": "51" }, { "arg1": "59", "arg2": "#0", "op": "add1-2", "res": "110" }, { "arg1": "#1", "arg2": "const_3", "op": "divide1-3", "res": "36.7" } ]

[ "hologic , inc .", "notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) future debt principal payments under these debt arrangements are approximately as follows: ." ]

[ "6 .", "derivative financial instruments and hedging agreements interest rate swaps in connection with the debt assumed from the aeg acquisition ( see notes 3 and 5 ) , the company acquired interest rate swap contracts used to convert the floating interest-rate component of certain debt obligations to fixed rates .", "these agreements did not qualify for hedge accounting under statements of financial accounting standards no .", "133 , accounting for derivative instruments and hedging activities ( 201csfas 133 201d ) and thus were marked to market each reporting period with the change in fair value recorded to other income ( expense ) , net in the accompanying consolidated statements of income .", "the company terminated all outstanding interest rate swaps in the fourth quarter of fiscal 2007 which resulted in a gain of $ 75 recorded in consolidated statement of income .", "forward contracts also in connection with the aeg acquisition , the company assumed certain foreign currency forward contracts to hedge , on a net basis , the foreign currency fluctuations associated with a portion of the aeg 2019s assets and liabilities that were denominated in the us dollar , including inter-company accounts .", "increases or decreases in the company 2019s foreign currency exposures are partially offset by gains and losses on the forward contracts , so as to mitigate foreign currency transaction gains and losses .", "the terms of these forward contracts are of a short- term nature ( 6 to 12 months ) .", "the company does not use forward contracts for trading or speculative purposes .", "the forward contracts are not designated as cash flow or fair value hedges under sfas no .", "133 and do not represent effective hedges .", "all outstanding forward contracts are marked to market at the end of the period and recorded on the balance sheet at fair value in other current assets and other current liabilities .", "the changes in fair value from these contracts and from the underlying hedged exposures are generally offsetting were recorded in other income , net in the accompanying consolidated statements of income and these amounts were not material .", "as of september 29 , 2007 , all of the forward exchange contracts assumed in the aeg acquisition had matured and the company had no forward exchange contracts outstanding .", "7 .", "pension and other employee benefits in conjunction with the may 2 , 2006 acquisition of aeg , the company assumed certain defined benefit pension plans covering the employees of the aeg german subsidiary ( pension benefits ) .", "on september 29 , 2006 , the fasb issued sfas no .", "158 , employers 2019 accounting for defined benefit pension and other postretirement plans , an amendment of fasb statements no .", "87 , 88 , 106 and 132 ( r ) ( sfas 158 ) .", "sfas 158 requires an entity to recognize in its statement of financial position an asset for a defined benefit postretirement ." ]

[ [ "Fiscal 2008", "$1,977" ], [ "Fiscal 2009", "1,977" ], [ "Fiscal 2010", "1,977" ], [ "Fiscal 2011", "1,422" ], [ "Fiscal 2012", "3,846" ], [ "Thereafter", "—" ], [ "Total", "$11,199" ] ]

[ [ "fiscal 2008", "$ 1977" ], [ "fiscal 2009", "1977" ], [ "fiscal 2010", "1977" ], [ "fiscal 2011", "1422" ], [ "fiscal 2012", "3846" ], [ "thereafter", "2014" ], [ "total", "$ 11199" ] ]

[ { "arg1": "1977", "arg2": "1977", "op": "add2-1", "res": "3954" }, { "arg1": "#0", "arg2": "1977", "op": "add2-2", "res": "5931" } ]

[ "pension plan assets pension assets include public equities , government and corporate bonds , cash and cash equivalents , private real estate funds , private partnerships , hedge funds , and other assets .", "plan assets are held in a master trust and overseen by the company's investment committee .", "all assets are externally managed through a combination of active and passive strategies .", "managers may only invest in the asset classes for which they have been appointed .", "the investment committee is responsible for setting the policy that provides the framework for management of the plan assets .", "the investment committee has set the minimum and maximum permitted values for each asset class in the company's pension plan master trust for the year ended december 31 , 2018 , as follows: ." ]

[ "the general objectives of the company's pension asset strategy are to earn a rate of return over time to satisfy the benefit obligations of the plans , meet minimum erisa funding requirements , and maintain sufficient liquidity to pay benefits and address other cash requirements within the master trust .", "specific investment objectives include reducing the volatility of pension assets relative to benefit obligations , achieving a competitive , total investment return , achieving diversification between and within asset classes , and managing other risks .", "investment objectives for each asset class are determined based on specific risks and investment opportunities identified .", "decisions regarding investment policies and asset allocation are made with the understanding of the historical and prospective return and risk characteristics of various asset classes , the effect of asset allocations on funded status , future company contributions , and projected expenditures , including benefits .", "the company updates its asset allocations periodically .", "the company uses various analytics to determine the optimal asset mix and considers plan obligation characteristics , duration , liquidity characteristics , funding requirements , expected rates of return , regular rebalancing , and the distribution of returns .", "actual allocations to each asset class could vary from target allocations due to periodic investment strategy changes , short-term market value fluctuations , the length of time it takes to fully implement investment allocation positions , such as real estate and other alternative investments , and the timing of benefit payments and company contributions .", "taking into account the asset allocation ranges , the company determines the specific allocation of the master trust's investments within various asset classes .", "the master trust utilizes select investment strategies , which are executed through separate account or fund structures with external investment managers who demonstrate experience and expertise in the appropriate asset classes and styles .", "the selection of investment managers is done with careful evaluation of all aspects of performance and risk , demonstrated fiduciary responsibility , investment management experience , and a review of the investment managers' policies and processes .", "investment performance is monitored frequently against appropriate benchmarks and tracked to compliance guidelines with the assistance of third party consultants and performance evaluation tools and metrics .", "plan assets are stated at fair value .", "the company employs a variety of pricing sources to estimate the fair value of its pension plan assets , including independent pricing vendors , dealer or counterparty-supplied valuations , third- party appraisals , and appraisals prepared by the company's investment managers or other experts .", "investments in equity securities , common and preferred , are valued at the last reported sales price when an active market exists .", "securities for which official or last trade pricing on an active exchange is available are classified as level 1 .", "if closing prices are not available , securities are valued at the last trade price , if deemed reasonable , or a broker's quote in a non-active market , and are typically categorized as level 2 .", "investments in fixed-income securities are generally valued by independent pricing services or dealers who make markets in such securities .", "pricing methods are based upon market transactions for comparable securities and various relationships between securities that are generally recognized by institutional traders , and fixed-income securities typically are categorized as level 2. ." ]

[ [ "", "Range" ], [ "U.S. equities", "15", "-", "36%" ], [ "International equities", "10", "-", "29%" ], [ "Fixed income securities", "25", "-", "50%" ], [ "Alternative investments", "10", "-", "25%" ] ]

[ [ "u.s . equities", "range 15", "range -", "range 36% ( 36 % )" ], [ "international equities", "10", "-", "29% ( 29 % )" ], [ "fixed income securities", "25", "-", "50% ( 50 % )" ], [ "alternative investments", "10", "-", "25% ( 25 % )" ] ]

[]

[ "fiscal 2004 acquisitions in february 2004 , the company completed the acquisition of all the outstanding shares of accelerant networks , inc .", "( accelerant ) for total consideration of $ 23.8 million , and the acquisition of the technology assets of analog design automation , inc .", "( ada ) for total consideration of $ 12.2 million .", "the company acquired accelerant in order to enhance the company 2019s standards-based ip solutions .", "the company acquired the assets of ada in order to enhance the company 2019s analog and mixed signal offerings .", "in october 2004 , the company completed the acquisition of cascade semiconductor solutions , inc .", "( cascade ) for total upfront consideration of $ 15.8 million and contingent consideration of up to $ 10.0 million to be paid upon the achievement of certain performance milestones over the three years following the acquisition .", "contingent consideration totaling $ 2.1 million was paid during the fourth quarter of fiscal 2005 and has been allocated to goodwill .", "the company acquired cascade , an ip provider , in order to augment synopsys 2019 offerings of pci express products .", "included in the total consideration for the accelerant and cascade acquisitions are aggregate acquisition costs of $ 4.3 million , consisting primarily of legal and accounting fees and other directly related charges .", "as of october 31 , 2006 the company has paid substantially all the costs related to these acquisitions .", "in fiscal 2004 , the company completed one additional acquisition and two additional asset acquisition transactions for aggregate consideration of $ 12.3 million in upfront payments and acquisition-related costs .", "in process research and development expenses associated with these acquisitions totaled $ 1.6 million for fiscal 2004 .", "these acquisitions are not considered material , individually or in the aggregate , to the company 2019s consolidated balance sheet and results of operations .", "as of october 31 , 2006 , the company has paid substantially all the costs related to these acquisitions .", "the company allocated the total aggregate purchase consideration for these transactions to the assets and liabilities acquired , including identifiable intangible assets , based on their respective fair values at the acquisition dates , resulting in aggregate goodwill of $ 24.5 million .", "aggregate identifiable intangible assets as a result of these acquisitions , consisting primarily of purchased technology and other intangibles , are $ 44.8 million , and are being amortized over three to five years .", "the company includes the amortization of purchased technology in cost of revenue in its statements of operations .", "note 4 .", "goodwill and intangible assets goodwill consists of the following: ." ]

[ "( 1 ) during fiscal year 2005 , additions represent goodwill acquired in acquisitions of ise and nassda of $ 72.9 million and $ 92.4 million , respectively , and contingent consideration earned and paid of $ 1.7 million and $ 2.1 million related to an immaterial acquisition and the acquisition of cascade , respectively .", "( 2 ) during fiscal year 2005 , synopsys reduced goodwill primarily related to tax reserves for avant! no longer probable due to expiration of the federal statute of limitations for claims. ." ]

[ [ "", "(in thousands)" ], [ "Balance at October 31, 2004", "$593,706" ], [ "Additions(1)", "169,142" ], [ "Other adjustments(2)", "(33,869)" ], [ "Balance at October 31, 2005", "$728,979" ], [ "Additions(3)", "27,745" ], [ "Other adjustments(4)", "(21,081)" ], [ "Balance at October 31, 2006", "$735,643" ] ]

[ [ "", "( in thousands )" ], [ "balance at october 31 2004", "$ 593706" ], [ "additions ( 1 )", "169142" ], [ "other adjustments ( 2 )", "-33869 ( 33869 )" ], [ "balance at october 31 2005", "$ 728979" ], [ "additions ( 3 )", "27745" ], [ "other adjustments ( 4 )", "-21081 ( 21081 )" ], [ "balance at october 31 2006", "$ 735643" ] ]

[ { "arg1": "728979", "arg2": "593706", "op": "divide1-1", "res": "1.2278" }, { "arg1": "#0", "arg2": "const_1", "op": "minus1-2", "res": "22.78%" } ]

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

[ "." ]

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

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

[ { "arg1": "688", "arg2": "838", "op": "add2-1", "res": "1526" }, { "arg1": "#0", "arg2": "605", "op": "add2-2", "res": "2131" } ]

[ "individual loan before being modified as a tdr in the discounted cash flow analysis in order to determine that specific loan 2019s expected impairment .", "specifically , a loan that has a more severe delinquency history prior to modification will have a higher future default rate in the discounted cash flow analysis than a loan that was not as severely delinquent .", "for both of the one- to four-family and home equity loan portfolio segments , the pre- modification delinquency status , the borrower 2019s current credit score and other credit bureau attributes , in addition to each loan 2019s individual default experience and credit characteristics , are incorporated into the calculation of the specific allowance .", "a specific allowance is established to the extent that the recorded investment exceeds the discounted cash flows of a tdr with a corresponding charge to provision for loan losses .", "the specific allowance for these individually impaired loans represents the forecasted losses over the estimated remaining life of the loan , including the economic concession to the borrower .", "effects if actual results differ historic volatility in the credit markets has substantially increased the complexity and uncertainty involved in estimating the losses inherent in the loan portfolio .", "in the current market it is difficult to estimate how potential changes in the quantitative and qualitative factors , including the impact of home equity lines of credit converting from interest only to amortizing loans or requiring borrowers to repay the loan in full at the end of the draw period , might impact the allowance for loan losses .", "if our underlying assumptions and judgments prove to be inaccurate , the allowance for loan losses could be insufficient to cover actual losses .", "we may be required under such circumstances to further increase the provision for loan losses , which could have an adverse effect on the regulatory capital position and results of operations in future periods .", "during the normal course of conducting examinations , our banking regulators , the occ and federal reserve , continue to review our business and practices .", "this process is dynamic and ongoing and we cannot be certain that additional changes or actions will not result from their continuing review .", "valuation of goodwill and other intangible assets description goodwill and other intangible assets are evaluated for impairment on an annual basis as of november 30 and in interim periods when events or changes indicate the carrying value may not be recoverable , such as a significant deterioration in the operating environment or a decision to sell or dispose of a reporting unit .", "goodwill and other intangible assets net of amortization were $ 1.8 billion and $ 0.2 billion , respectively , at december 31 , 2013 .", "judgments goodwill is allocated to reporting units , which are components of the business that are one level below operating segments .", "reporting units are evaluated for impairment individually during the annual assessment .", "estimating the fair value of reporting units and the assets , liabilities and intangible assets of a reporting unit is a subjective process that involves the use of estimates and judgments , particularly related to cash flows , the appropriate discount rates and an applicable control premium .", "management judgment is required to assess whether the carrying value of the reporting unit can be supported by the fair value of the individual reporting unit .", "there are various valuation methodologies , such as the market approach or discounted cash flow methods , that may be used to estimate the fair value of reporting units .", "in applying these methodologies , we utilize a number of factors , including actual operating results , future business plans , economic projections , and market data .", "the following table shows the comparative data for the amount of goodwill allocated to our reporting units ( dollars in millions ) : ." ]

[ "." ]

[ [ "", "December 31," ], [ "Reporting Unit", "2013", "2012" ], [ "Retail brokerage", "$1,791.8", "$1,791.8" ], [ "Market making", "—", "142.4" ], [ "Total goodwill", "$1,791.8", "$1,934.2" ] ]

[ [ "reporting unit", "december 31 , 2013", "december 31 , 2012" ], [ "retail brokerage", "$ 1791.8", "$ 1791.8" ], [ "market making", "2014", "142.4" ], [ "total goodwill", "$ 1791.8", "$ 1934.2" ] ]

[]

[ "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" ] ]

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[ "table of contents hologic , inc .", "notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) location during fiscal 2009 .", "the company was responsible for a significant portion of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period , in accordance with asc 840 , leases , subsection 40-15-5 .", "during the year ended september 27 , 2008 , the company recorded an additional $ 4400 in fair market value of the building , which was completed in fiscal 2008 .", "this is in addition to the $ 3000 fair market value of the land and the $ 7700 fair market value related to the building constructed that cytyc had recorded as of october 22 , 2007 .", "the company has recorded such fair market value within property and equipment on its consolidated balance sheets .", "at september 26 , 2009 , the company has recorded $ 1508 in accrued expenses and $ 16329 in other long-term liabilities related to this obligation in the consolidated balance sheet .", "the term of the lease is for a period of approximately ten years with the option to extend for two consecutive five-year terms .", "the lease term commenced in may 2008 , at which time the company began transferring the company 2019s costa rican operations to this facility .", "it is expected that this process will be complete by february 2009 .", "at the completion of the construction period , the company reviewed the lease for potential sale-leaseback treatment in accordance with asc 840 , subsection 40 , sale-leaseback transactions ( formerly sfas no .", "98 ( 201csfas 98 201d ) , accounting for leases : sale-leaseback transactions involving real estate , sales-type leases of real estate , definition of the lease term , and initial direct costs of direct financing leases 2014an amendment of financial accounting standards board ( 201cfasb 201d ) statements no .", "13 , 66 , and 91 and a rescission of fasb statement no .", "26 and technical bulletin no .", "79-11 ) .", "based on its analysis , the company determined that the lease did not qualify for sale-leaseback treatment .", "therefore , the building , leasehold improvements and associated liabilities will remain on the company 2019s financial statements throughout the lease term , and the building and leasehold improvements will be depreciated on a straight line basis over their estimated useful lives of 35 years .", "future minimum lease payments , including principal and interest , under this lease were as follows at september 26 , 2009: ." ]

[ "in addition , as a result of the merger with cytyc , the company assumed the obligation to a non-cancelable lease agreement for a building with approximately 146000 square feet located in marlborough , massachusetts , to be principally used as an additional manufacturing facility .", "in 2011 , the company will have an option to lease an additional 30000 square feet .", "as part of the lease agreement , the lessor agreed to allow the company to make significant renovations to the facility to prepare the facility for the company 2019s manufacturing needs .", "the company was responsible for a significant amount of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period in accordance with asc 840-40-15-5 .", "the $ 13200 fair market value of the facility is included within property and equipment , net on the consolidated balance sheet .", "at september 26 , 2009 , the company has recorded $ 982 in accrued expenses and source : hologic inc , 10-k , november 24 , 2009 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .", "the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .", "past financial performance is no guarantee of future results. ." ]

[ [ "", "Amount" ], [ "Fiscal 2010", "$1,508" ], [ "Fiscal 2011", "1,561" ], [ "Fiscal 2012", "1,616" ], [ "Fiscal 2013", "1,672" ], [ "Fiscal 2014", "1,731" ], [ "Thereafter", "7,288" ], [ "Total minimum payments", "15,376" ], [ "Less-amount representing interest", "(6,094)" ], [ "Total", "$9,282" ] ]

[ [ "", "amount" ], [ "fiscal 2010", "$ 1508" ], [ "fiscal 2011", "1561" ], [ "fiscal 2012", "1616" ], [ "fiscal 2013", "1672" ], [ "fiscal 2014", "1731" ], [ "thereafter", "7288" ], [ "total minimum payments", "15376" ], [ "less-amount representing interest", "-6094 ( 6094 )" ], [ "total", "$ 9282" ] ]

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[ "when the likelihood of clawback is considered mathematically improbable .", "the company records a deferred carried interest liability to the extent it receives cash or capital allocations related to carried interest prior to meeting the revenue recognition criteria .", "at december 31 , 2017 and 2016 , the company had $ 219 million and $ 152 million , respectively , of deferred carried interest recorded in other liabilities/other liabilities of consolidated vies on the consolidated statements of financial condition .", "a portion of the deferred carried interest liability will be paid to certain employees .", "the ultimate timing of the recognition of performance fee revenue , if any , for these products is unknown .", "the following table presents changes in the deferred carried interest liability ( including the portion related to consolidated vies ) for 2017 and 2016: ." ]

[ "for 2017 , 2016 and 2015 , performance fee revenue ( which included recognized carried interest ) totaled $ 594 million , $ 295 million and $ 621 million , respectively .", "fees earned for technology and risk management revenue are recorded as services are performed and are generally determined using the value of positions on the aladdin platform or on a fixed-rate basis .", "for 2017 , 2016 and 2016 , technology and risk management revenue totaled $ 677 million , $ 595 million and $ 528 million , respectively .", "adjustments to revenue arising from initial estimates recorded historically have been immaterial since the majority of blackrock 2019s investment advisory and administration revenue is calculated based on aum and since the company does not record performance fee revenue until performance thresholds have been exceeded and the likelihood of clawback is mathematically improbable .", "accounting developments recent accounting pronouncements not yet adopted .", "revenue from contracts with customers .", "in may 2014 , the financial accounting standards board ( 201cfasb 201d ) issued accounting standards update ( 201casu 201d ) 2014-09 , revenue from contracts with customers ( 201casu 2014-09 201d ) .", "asu 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance , including industry-specific guidance .", "the guidance also changes the accounting for certain contract costs and revises the criteria for determining if an entity is acting as a principal or agent in certain arrangements .", "the key changes in the standard that impact the company 2019s revenue recognition relate to the presentation of certain revenue contracts and associated contract costs .", "the most significant of these changes relates to the presentation of certain distribution costs , which are currently presented net against revenues ( contra-revenue ) and will be presented as an expense on a gross basis .", "the company adopted asu 2014-09 effective january 1 , 2018 on a full retrospective basis , which will require 2016 and 2017 to be restated in future filings .", "the cumulative effect adjustment to the 2016 opening retained earnings was not material .", "the company currently expects the net gross up to revenue to be approximately $ 1 billion with a corresponding gross up to expense for both 2016 and 2017 .", "consequently , the company expects its gaap operating margin to decline upon adoption due to the gross up of revenue .", "however , no material impact is expected on the company 2019s as adjusted operating margin .", "for accounting pronouncements that the company adopted during the year ended december 31 , 2017 and for additional recent accounting pronouncements not yet adopted , see note 2 , significant accounting policies , in the consolidated financial statements contained in part ii , item 8 of this filing .", "item 7a .", "quantitative and qualitative disclosures about market risk aum market price risk .", "blackrock 2019s investment advisory and administration fees are primarily comprised of fees based on a percentage of the value of aum and , in some cases , performance fees expressed as a percentage of the returns realized on aum .", "at december 31 , 2017 , the majority of the company 2019s investment advisory and administration fees were based on average or period end aum of the applicable investment funds or separate accounts .", "movements in equity market prices , interest rates/credit spreads , foreign exchange rates or all three could cause the value of aum to decline , which would result in lower investment advisory and administration fees .", "corporate investments portfolio risks .", "as a leading investment management firm , blackrock devotes significant resources across all of its operations to identifying , measuring , monitoring , managing and analyzing market and operating risks , including the management and oversight of its own investment portfolio .", "the board of directors of the company has adopted guidelines for the review of investments to be made by the company , requiring , among other things , that investments be reviewed by certain senior officers of the company , and that certain investments may be referred to the audit committee or the board of directors , depending on the circumstances , for approval .", "in the normal course of its business , blackrock is exposed to equity market price risk , interest rate/credit spread risk and foreign exchange rate risk associated with its corporate investments .", "blackrock has investments primarily in sponsored investment products that invest in a variety of asset classes , including real assets , private equity and hedge funds .", "investments generally are made for co-investment purposes , to establish a performance track record , to hedge exposure to certain deferred compensation plans or for regulatory purposes .", "currently , the company has a seed capital hedging program in which it enters into swaps to hedge market and interest rate exposure to certain investments .", "at december 31 , 2017 , the company had outstanding total return swaps with an aggregate notional value of approximately $ 587 million .", "at december 31 , 2017 , there were no outstanding interest rate swaps. ." ]

[ [ "(in millions)", "2017", "2016" ], [ "Beginning balance", "$152", "$143" ], [ "Net increase (decrease) in unrealized allocations", "75", "37" ], [ "Performance fee revenue recognized", "(21)", "(28)" ], [ "Acquisition", "13", "—" ], [ "Ending balance", "$219", "$152" ] ]

[ [ "( in millions )", "2017", "2016" ], [ "beginning balance", "$ 152", "$ 143" ], [ "net increase ( decrease ) in unrealized allocations", "75", "37" ], [ "performance fee revenue recognized", "-21 ( 21 )", "-28 ( 28 )" ], [ "acquisition", "13", "2014" ], [ "ending balance", "$ 219", "$ 152" ] ]

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[ "united parcel service , inc .", "and subsidiaries notes to consolidated financial statements floating-rate senior notes the floating-rate senior notes with principal amounts totaling $ 1.043 billion , bear interest at either one or three-month libor , less a spread ranging from 30 to 45 basis points .", "the average interest rate for 2017 and 2016 was 0.74% ( 0.74 % ) and 0.21% ( 0.21 % ) , respectively .", "these notes are callable at various times after 30 years at a stated percentage of par value , and putable by the note holders at various times after one year at a stated percentage of par value .", "the notes have maturities ranging from 2049 through 2067 .", "we classified the floating-rate senior notes that are putable by the note holder as a long-term liability , due to our intent and ability to refinance the debt if the put option is exercised by the note holder .", "in march and november 2017 , we issued floating-rate senior notes in the principal amounts of $ 147 and $ 64 million , respectively , which are included in the $ 1.043 billion floating-rate senior notes described above .", "these notes will bear interest at three-month libor less 30 and 35 basis points , respectively and mature in 2067 .", "the remaining three floating-rate senior notes in the principal amounts of $ 350 , $ 400 and $ 500 million , bear interest at three-month libor , plus a spread ranging from 15 to 45 basis points .", "the average interest rate for 2017 and 2016 was 0.50% ( 0.50 % ) and 0.0% ( 0.0 % ) , respectively .", "these notes are not callable .", "the notes have maturities ranging from 2021 through 2023 .", "we classified the floating-rate senior notes that are putable by the note holder as a long-term liability , due to our intent and ability to refinance the debt if the put option is exercised by the note holder .", "capital lease obligations we have certain property , plant and equipment subject to capital leases .", "some of the obligations associated with these capital leases have been legally defeased .", "the recorded value of our property , plant and equipment subject to capital leases is as follows as of december 31 ( in millions ) : ." ]

[ "these capital lease obligations have principal payments due at various dates from 2018 through 3005 .", "facility notes and bonds we have entered into agreements with certain municipalities to finance the construction of , or improvements to , facilities that support our u.s .", "domestic package and supply chain & freight operations in the united states .", "these facilities are located around airport properties in louisville , kentucky ; dallas , texas ; and philadelphia , pennsylvania .", "under these arrangements , we enter into a lease or loan agreement that covers the debt service obligations on the bonds issued by the municipalities , as follows : 2022 bonds with a principal balance of $ 149 million issued by the louisville regional airport authority associated with our worldport facility in louisville , kentucky .", "the bonds , which are due in january 2029 , bear interest at a variable rate , and the average interest rates for 2017 and 2016 were 0.83% ( 0.83 % ) and 0.37% ( 0.37 % ) , respectively .", "2022 bonds with a principal balance of $ 42 million and due in november 2036 issued by the louisville regional airport authority associated with our air freight facility in louisville , kentucky .", "the bonds bear interest at a variable rate , and the average interest rates for 2017 and 2016 were 0.80% ( 0.80 % ) and 0.36% ( 0.36 % ) , respectively .", "2022 bonds with a principal balance of $ 29 million issued by the dallas / fort worth international airport facility improvement corporation associated with our dallas , texas airport facilities .", "the bonds are due in may 2032 and bear interest at a variable rate , however the variable cash flows on the obligation have been swapped to a fixed 5.11% ( 5.11 % ) .", "2022 in september 2015 , we entered into an agreement with the delaware county , pennsylvania industrial development authority , associated with our philadelphia , pennsylvania airport facilities , for bonds issued with a principal balance of $ 100 million .", "these bonds , which are due september 2045 , bear interest at a variable rate .", "the average interest rate for 2017 and 2016 was 0.78% ( 0.78 % ) and 0.40% ( 0.40 % ) , respectively. ." ]

[ [ "", "2017", "2016" ], [ "Vehicles", "$70", "$68" ], [ "Aircraft", "2,291", "2,291" ], [ "Buildings", "285", "190" ], [ "Accumulated amortization", "(990)", "(896)" ], [ "Property, plant and equipment subject to capital leases", "$1,656", "$1,653" ] ]

[ [ "", "2017", "2016" ], [ "vehicles", "$ 70", "$ 68" ], [ "aircraft", "2291", "2291" ], [ "buildings", "285", "190" ], [ "accumulated amortization", "-990 ( 990 )", "-896 ( 896 )" ], [ "property plant and equipment subject to capital leases", "$ 1656", "$ 1653" ] ]

[ { "arg1": "285", "arg2": "190", "op": "minus1-1", "res": "95" }, { "arg1": "#0", "arg2": "190", "op": "divide1-2", "res": "50%" } ]

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

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

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

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

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[ "results of operations for 2016 include : 1 ) $ 2836 million ( $ 1829 million net-of-tax ) of impairment and related charges primarily to write down the carrying values of the entergy wholesale commodities 2019 palisades , indian point 2 , and indian point 3 plants and related assets to their fair values ; 2 ) a reduction of income tax expense , net of unrecognized tax benefits , of $ 238 million as a result of a change in the tax classification of a legal entity that owned one of the entergy wholesale commodities nuclear power plants ; income tax benefits as a result of the settlement of the 2010-2011 irs audit , including a $ 75 million tax benefit recognized by entergy louisiana related to the treatment of the vidalia purchased power agreement and a $ 54 million net benefit recognized by entergy louisiana related to the treatment of proceeds received in 2010 for the financing of hurricane gustav and hurricane ike storm costs pursuant to louisiana act 55 ; and 3 ) a reduction in expenses of $ 100 million ( $ 64 million net-of-tax ) due to the effects of recording in 2016 the final court decisions in several lawsuits against the doe related to spent nuclear fuel storage costs .", "see note 14 to the financial statements for further discussion of the impairment and related charges , see note 3 to the financial statements for additional discussion of the income tax items , and see note 8 to the financial statements for discussion of the spent nuclear fuel litigation .", "net revenue utility following is an analysis of the change in net revenue comparing 2017 to 2016 .", "amount ( in millions ) ." ]

[ "the retail electric price variance is primarily due to : 2022 the implementation of formula rate plan rates effective with the first billing cycle of january 2017 at entergy arkansas and an increase in base rates effective february 24 , 2016 , each as approved by the apsc .", "a significant portion of the base rate increase was related to the purchase of power block 2 of the union power station in march 2016 ; 2022 a provision recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding ; 2022 the implementation of the transmission cost recovery factor rider at entergy texas , effective september 2016 , and an increase in the transmission cost recovery factor rider rate , effective march 2017 , as approved by the puct ; and 2022 an increase in rates at entergy mississippi , as approved by the mpsc , effective with the first billing cycle of july 2016 .", "see note 2 to the financial statements for further discussion of the rate proceedings and the waterford 3 replacement steam generator prudence review proceeding .", "see note 14 to the financial statements for discussion of the union power station purchase .", "entergy corporation and subsidiaries management 2019s financial discussion and analysis ." ]

[ [ "", "Amount (In Millions)" ], [ "2016 net revenue", "$6,179" ], [ "Retail electric price", "91" ], [ "Regulatory credit resulting from reduction of thefederal corporate income tax rate", "56" ], [ "Grand Gulf recovery", "27" ], [ "Louisiana Act 55 financing savings obligation", "17" ], [ "Volume/weather", "(61)" ], [ "Other", "9" ], [ "2017 net revenue", "$6,318" ] ]

[ [ "", "amount ( in millions )" ], [ "2016 net revenue", "$ 6179" ], [ "retail electric price", "91" ], [ "regulatory credit resulting from reduction of thefederal corporate income tax rate", "56" ], [ "grand gulf recovery", "27" ], [ "louisiana act 55 financing savings obligation", "17" ], [ "volume/weather", "-61 ( 61 )" ], [ "other", "9" ], [ "2017 net revenue", "$ 6318" ] ]

[ { "arg1": "6318", "arg2": "6179", "op": "minus1-1", "res": "139" }, { "arg1": "#0", "arg2": "6179", "op": "divide1-2", "res": "2.3%" } ]

[ "results of operations for 2016 include : 1 ) $ 2836 million ( $ 1829 million net-of-tax ) of impairment and related charges primarily to write down the carrying values of the entergy wholesale commodities 2019 palisades , indian point 2 , and indian point 3 plants and related assets to their fair values ; 2 ) a reduction of income tax expense , net of unrecognized tax benefits , of $ 238 million as a result of a change in the tax classification of a legal entity that owned one of the entergy wholesale commodities nuclear power plants ; income tax benefits as a result of the settlement of the 2010-2011 irs audit , including a $ 75 million tax benefit recognized by entergy louisiana related to the treatment of the vidalia purchased power agreement and a $ 54 million net benefit recognized by entergy louisiana related to the treatment of proceeds received in 2010 for the financing of hurricane gustav and hurricane ike storm costs pursuant to louisiana act 55 ; and 3 ) a reduction in expenses of $ 100 million ( $ 64 million net-of-tax ) due to the effects of recording in 2016 the final court decisions in several lawsuits against the doe related to spent nuclear fuel storage costs .", "see note 14 to the financial statements for further discussion of the impairment and related charges , see note 3 to the financial statements for additional discussion of the income tax items , and see note 8 to the financial statements for discussion of the spent nuclear fuel litigation .", "net revenue utility following is an analysis of the change in net revenue comparing 2017 to 2016 .", "amount ( in millions ) ." ]

[ "the retail electric price variance is primarily due to : 2022 the implementation of formula rate plan rates effective with the first billing cycle of january 2017 at entergy arkansas and an increase in base rates effective february 24 , 2016 , each as approved by the apsc .", "a significant portion of the base rate increase was related to the purchase of power block 2 of the union power station in march 2016 ; 2022 a provision recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding ; 2022 the implementation of the transmission cost recovery factor rider at entergy texas , effective september 2016 , and an increase in the transmission cost recovery factor rider rate , effective march 2017 , as approved by the puct ; and 2022 an increase in rates at entergy mississippi , as approved by the mpsc , effective with the first billing cycle of july 2016 .", "see note 2 to the financial statements for further discussion of the rate proceedings and the waterford 3 replacement steam generator prudence review proceeding .", "see note 14 to the financial statements for discussion of the union power station purchase .", "entergy corporation and subsidiaries management 2019s financial discussion and analysis ." ]

[ [ "", "Amount (In Millions)" ], [ "2016 net revenue", "$6,179" ], [ "Retail electric price", "91" ], [ "Regulatory credit resulting from reduction of thefederal corporate income tax rate", "56" ], [ "Grand Gulf recovery", "27" ], [ "Louisiana Act 55 financing savings obligation", "17" ], [ "Volume/weather", "(61)" ], [ "Other", "9" ], [ "2017 net revenue", "$6,318" ] ]

[ [ "", "amount ( in millions )" ], [ "2016 net revenue", "$ 6179" ], [ "retail electric price", "91" ], [ "regulatory credit resulting from reduction of thefederal corporate income tax rate", "56" ], [ "grand gulf recovery", "27" ], [ "louisiana act 55 financing savings obligation", "17" ], [ "volume/weather", "-61 ( 61 )" ], [ "other", "9" ], [ "2017 net revenue", "$ 6318" ] ]

[]

[ "entergy corporation and subsidiaries notes to financial statements ( a ) consists of pollution control revenue bonds and environmental revenue bonds , some of which are secured by collateral first mortgage bonds .", "( b ) these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .", "( c ) pursuant to the nuclear waste policy act of 1982 , entergy 2019s nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service .", "the contracts include a one-time fee for generation prior to april 7 , 1983 .", "entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee , plus accrued interest , in long-term debt .", "( d ) see note 10 to the financial statements for further discussion of the waterford 3 lease obligation and entergy louisiana 2019s acquisition of the equity participant 2019s beneficial interest in the waterford 3 leased assets and for further discussion of the grand gulf lease obligation .", "( e ) this note does not have a stated interest rate , but has an implicit interest rate of 7.458% ( 7.458 % ) .", "( f ) the fair value excludes lease obligations of $ 57 million at entergy louisiana and $ 34 million at system energy , and long-term doe obligations of $ 182 million at entergy arkansas , and includes debt due within one year .", "fair values are classified as level 2 in the fair value hierarchy discussed in note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades .", "the annual long-term debt maturities ( excluding lease obligations and long-term doe obligations ) for debt outstanding as of december 31 , 2016 , for the next five years are as follows : amount ( in thousands ) ." ]

[ "in november 2000 , entergy 2019s non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction .", "as part of the purchase agreement with nypa , entergy recorded a liability representing the net present value of the payments entergy would be liable to nypa for each year that the fitzpatrick and indian point 3 power plants would run beyond their respective original nrc license expiration date .", "in october 2015 , entergy announced a planned shutdown of fitzpatrick at the end of its fuel cycle .", "as a result of the announcement , entergy reduced this liability by $ 26.4 million pursuant to the terms of the purchase agreement .", "in august 2016 , entergy entered into a trust transfer agreement with nypa to transfer the decommissioning trust funds and decommissioning liabilities for the indian point 3 and fitzpatrick plants to entergy .", "as part of the trust transfer agreement , the original decommissioning agreements were amended , and the entergy subsidiaries 2019 obligation to make additional license extension payments to nypa was eliminated .", "in the third quarter 2016 , entergy removed the note payable of $ 35.1 million from the consolidated balance sheet .", "entergy louisiana , entergy mississippi , entergy texas , and system energy have obtained long-term financing authorizations from the ferc that extend through october 2017 .", "entergy arkansas has obtained long-term financing authorization from the apsc that extends through december 2018 .", "entergy new orleans has obtained long-term financing authorization from the city council that extends through june 2018 .", "capital funds agreement pursuant to an agreement with certain creditors , entergy corporation has agreed to supply system energy with sufficient capital to : 2022 maintain system energy 2019s equity capital at a minimum of 35% ( 35 % ) of its total capitalization ( excluding short- term debt ) ; ." ]

[ [ "", "Amount (In Thousands)" ], [ "2017", "$307,403" ], [ "2018", "$828,084" ], [ "2019", "$724,899" ], [ "2020", "$795,000" ], [ "2021", "$1,674,548" ] ]

[ [ "", "amount ( in thousands )" ], [ "2017", "$ 307403" ], [ "2018", "$ 828084" ], [ "2019", "$ 724899" ], [ "2020", "$ 795000" ], [ "2021", "$ 1674548" ] ]

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

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

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

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

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[ "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 , 2002 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 5/02 5/03 5/04 5/05 5/06 5/07 global payments inc .", "s&p 500 s&p information technology * $ 100 invested on 5/31/02 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 on april 5 , 2007 , our board of directors authorized repurchases of our common stock in an amount up to $ 100 million .", "the board has authorized us to purchase shares from time to time as market conditions permit .", "there is no expiration date with respect to this authorization .", "no amounts have been repurchased during the fiscal year ended may 31 , 2007. ." ]

[ [ "", "Global Payments", "S&P 500", "S&P Information Technology" ], [ "May 31, 2002", "$100.00", "$100.00", "$100.00" ], [ "May 31, 2003", "94.20", "91.94", "94.48" ], [ "May 31, 2004", "129.77", "108.79", "115.24" ], [ "May 31, 2005", "193.30", "117.75", "116.29" ], [ "May 31, 2006", "260.35", "127.92", "117.14" ], [ "May 31, 2007", "224.24", "157.08", "144.11" ] ]

[ [ "", "global payments", "s&p 500", "s&p information technology" ], [ "may 31 2002", "$ 100.00", "$ 100.00", "$ 100.00" ], [ "may 31 2003", "94.20", "91.94", "94.48" ], [ "may 31 2004", "129.77", "108.79", "115.24" ], [ "may 31 2005", "193.30", "117.75", "116.29" ], [ "may 31 2006", "260.35", "127.92", "117.14" ], [ "may 31 2007", "224.24", "157.08", "144.11" ] ]

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[ "the fair value of performance awards is calculated using the market value of a share of snap-on 2019s common stock on the date of grant .", "the weighted-average grant date fair value of performance awards granted during 2013 , 2012 and 2011 was $ 77.33 , $ 60.00 and $ 55.97 , respectively .", "vested performance share units approximated 148000 shares as of 2013 year end , 213000 shares as of 2012 year end and 54208 shares as of 2011 year end .", "performance share units of 213459 shares were paid out in 2013 and 53990 shares were paid out in 2012 ; no performance share units were paid out in 2011 .", "earned performance share units are generally paid out following the conclusion of the applicable performance period upon approval by the organization and executive compensation committee of the company 2019s board of directors ( the 201cboard 201d ) .", "based on the company 2019s 2013 performance , 84413 rsus granted in 2013 were earned ; assuming continued employment , these rsus will vest at the end of fiscal 2015 .", "based on the company 2019s 2012 performance , 95047 rsus granted in 2012 were earned ; assuming continued employment , these rsus will vest at the end of fiscal 2014 .", "based on the company 2019s 2011 performance , 159970 rsus granted in 2011 were earned ; these rsus vested as of fiscal 2013 year end and were paid out shortly thereafter .", "as a result of employee retirements , a total of 1614 of the rsus earned in 2012 and 2011 vested pursuant to the terms of the related award agreements and the underlying shares were paid out in the third quarter of 2013 .", "the changes to the company 2019s non-vested performance awards in 2013 are as follows : shares ( in thousands ) fair value price per share* ." ]

[ "* weighted-average as of 2013 year end there was approximately $ 12.9 million of unrecognized compensation cost related to non-vested performance awards that is expected to be recognized as a charge to earnings over a weighted-average period of 1.6 years .", "stock appreciation rights ( 201csars 201d ) the company also issues cash-settled and stock-settled sars to certain key non-u.s .", "employees .", "sars have a contractual term of ten years and vest ratably on the first , second and third anniversaries of the date of grant .", "sars are granted with an exercise price equal to the market value of a share of snap-on 2019s common stock on the date of grant .", "cash-settled sars provide for the cash payment of the excess of the fair market value of snap-on 2019s common stock price on the date of exercise over the grant price .", "cash-settled sars have no effect on dilutive shares or shares outstanding as any appreciation of snap-on 2019s common stock value over the grant price is paid in cash and not in common stock .", "in 2013 , the company began issuing stock-settled sars that are accounted for as equity instruments and provide for the issuance of snap-on common stock equal to the amount by which the company 2019s stock has appreciated over the exercise price .", "stock-settled sars have an effect on dilutive shares and shares outstanding as any appreciation of snap-on 2019s common stock value over the exercise price will be settled in shares of common stock .", "2013 annual report 101 ." ]

[ [ "", "Shares<i>(in thousands)</i>", "Fair ValuePrice perShare*" ], [ "Non-vested performance awards at beginning of year", "509", "$59.36" ], [ "Granted", "180", "77.33" ], [ "Vested", "(306)", "58.94" ], [ "Cancellations", "(2)", "69.23" ], [ "Non-vested performance awards at end of year", "381", "68.13" ] ]

[ [ "", "shares ( in thousands )", "fair valueprice pershare*" ], [ "non-vested performance awards at beginning of year", "509", "$ 59.36" ], [ "granted", "180", "77.33" ], [ "vested", "-306 ( 306 )", "58.94" ], [ "cancellations", "-2 ( 2 )", "69.23" ], [ "non-vested performance awards at end of year", "381", "68.13" ] ]

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[ "during 2012 , the company granted selected employees an aggregate of 139 thousand rsus with internal performance measures and , separately , certain market thresholds .", "these awards vested in january 2015 .", "the terms of the grants specified that to the extent certain performance goals , comprised of internal measures and , separately , market thresholds were achieved , the rsus would vest ; if performance goals were surpassed , up to 175% ( 175 % ) of the target awards would be distributed ; and if performance goals were not met , the awards would be forfeited .", "in january 2015 , an additional 93 thousand rsus were granted and distributed because performance thresholds were exceeded .", "in 2015 , 2014 and 2013 , the company granted rsus , both with and without performance conditions , to certain employees under the 2007 plan .", "the rsus without performance conditions vest ratably over the three- year service period beginning january 1 of the year of the grant and the rsus with performance conditions vest ratably over the three-year performance period beginning january 1 of the year of the grant ( the 201cperformance period 201d ) .", "distribution of the performance shares is contingent upon the achievement of internal performance measures and , separately , certain market thresholds over the performance period .", "during 2015 , 2014 and 2013 , the company granted rsus to non-employee directors under the 2007 plan .", "the rsus vested on the date of grant ; however , distribution of the shares will be made within 30 days of the earlier of : ( i ) 15 months after grant date , subject to any deferral election by the director ; or ( ii ) the participant 2019s separation from service .", "because these rsus vested on the grant date , the total grant date fair value was recorded in operation and maintenance expense included in the expense table above on the grant date .", "rsus generally vest over periods ranging from one to three years .", "rsus granted with service-only conditions and those with internal performance measures are valued at the market value of the closing price of the company 2019s common stock on the date of grant .", "rsus granted with market conditions are valued using a monte carlo model .", "expected volatility is based on historical volatilities of traded common stock of the company and comparative companies using daily stock prices over the past three years .", "the expected term is three years and the risk-free interest rate is based on the three-year u.s .", "treasury rate in effect as of the measurement date .", "the following table presents the weighted-average assumptions used in the monte carlo simulation and the weighted-average grant date fair values of rsus granted for the years ended december 31: ." ]

[ "the grant date fair value of restricted stock awards that vest ratably and have market and/or performance and service conditions are amortized through expense over the requisite service period using the graded-vesting method .", "rsus that have no performance conditions are amortized through expense over the requisite service period using the straight-line method and are included in operations expense in the accompanying consolidated statements of operations .", "as of december 31 , 2015 , $ 4 of total unrecognized compensation cost related to the nonvested restricted stock units is expected to be recognized over the weighted-average remaining life of 1.4 years .", "the total grant date fair value of rsus vested was $ 12 , $ 11 and $ 9 for the years ended december 31 , 2015 , 2014 and 2013. ." ]

[ [ "", "2015", "2014", "2013" ], [ "Expected volatility", "14.93%", "17.78%", "19.37%" ], [ "Risk-free interest rate", "1.07%", "0.75%", "0.40%" ], [ "Expected life (years)", "3.0", "3.0", "3.0" ], [ "Grant date fair value per share", "$62.10", "$45.45", "$40.13" ] ]

[ [ "", "2015", "2014", "2013" ], [ "expected volatility", "14.93% ( 14.93 % )", "17.78% ( 17.78 % )", "19.37% ( 19.37 % )" ], [ "risk-free interest rate", "1.07% ( 1.07 % )", "0.75% ( 0.75 % )", "0.40% ( 0.40 % )" ], [ "expected life ( years )", "3.0", "3.0", "3.0" ], [ "grant date fair value per share", "$ 62.10", "$ 45.45", "$ 40.13" ] ]

[]

[ "investment advisory revenues earned on the other investment portfolios that we manage decreased $ 3.6 million to $ 522.2 million .", "average assets in these portfolios were $ 142.1 billion during 2008 , up slightly from $ 141.4 billion in 2007 .", "these minor changes , each less than 1% ( 1 % ) , are attributable to the timing of declining equity market valuations and cash flows among our separate account and sub-advised portfolios .", "net inflows , primarily from institutional investors , were $ 13.2 billion during 2008 , including the $ 1.3 billion transferred from the retirement funds to target-date trusts .", "decreases in market valuations , net of income , lowered our assets under management in these portfolios by $ 55.3 billion during 2008 .", "administrative fees increased $ 5.8 million to $ 353.9 million , primarily from increased costs of servicing activities for the mutual funds and their investors .", "changes in administrative fees are generally offset by similar changes in related operating expenses that are incurred to provide services to the funds and their investors .", "our largest expense , compensation and related costs , increased $ 18.4 million or 2.3% ( 2.3 % ) from 2007 .", "this increase includes $ 37.2 million in salaries resulting from an 8.4% ( 8.4 % ) increase in our average staff count and an increase of our associates 2019 base salaries at the beginning of the year .", "at december 31 , 2008 , we employed 5385 associates , up 6.0% ( 6.0 % ) from the end of 2007 , primarily to add capabilities and support increased volume-related activities and other growth over the past few years .", "over the course of 2008 , we slowed the growth of our associate base from earlier plans and the prior year .", "we do not expect the number of our associates to increase in 2009 .", "we also reduced our annual bonuses $ 27.6 million versus the 2007 year in response to recent and ongoing unfavorable financial market conditions that negatively impacted our operating results .", "the balance of the increase is attributable to higher employee benefits and employment- related expenses , including an increase of $ 5.7 million in stock-based compensation .", "entering 2009 , we did not increase the salaries of our highest paid associates .", "after higher spending during the first quarter of 2008 versus 2007 , investor sentiment in the uncertain and volatile market environment caused us to reduce advertising and promotion spending , which for the year was down $ 3.8 million from 2007 .", "we expect to reduce these expenditures for 2009 versus 2008 , and estimate that spending in the first quarter of 2009 will be down about $ 5 million from the fourth quarter of 2008 .", "we vary our level of spending based on market conditions and investor demand as well as our efforts to expand our investor base in the united states and abroad .", "occupancy and facility costs together with depreciation expense increased $ 18 million , or 12% ( 12 % ) compared to 2007 .", "we have been expanding and renovating our facilities to accommodate the growth in our associates to meet business demands .", "other operating expenses were up $ 3.3 million from 2007 .", "we increased our spending $ 9.8 million , primarily for professional fees and information and other third-party services .", "reductions in travel and charitable contributions partially offset these increases .", "our non-operating investment activity resulted in a net loss of $ 52.3 million in 2008 as compared to a net gain of $ 80.4 million in 2007 .", "this change of $ 132.7 million is primarily attributable to losses recognized in 2008 on our investments in sponsored mutual funds , which resulted from declines in financial market values during the year. ." ]

[ "we recognized other than temporary impairments of our investments in sponsored mutual funds because of declines in fair value below cost for an extended period .", "the significant declines in fair value below cost that occurred in 2008 were generally attributable to the adverse and ongoing market conditions discussed in the background section on page 18 of this report .", "see also the discussion on page 24 of critical accounting policies for other than temporary impairments of available-for-sale securities .", "in addition , income from money market and bond fund holdings was $ 19.3 million lower than in 2007 due to the significantly lower interest rate environment of 2008 .", "lower interest rates also led to substantial capital appreciation on our $ 40 million holding of u.s .", "treasury notes that we sold in december 2008 at a $ 2.6 million gain .", "management 2019s discussion & analysis 21 ." ]

[ [ "", "2007", "2008", "Change" ], [ "Capital gain distributions received", "$22.1", "$5.6", "$(16.5)" ], [ "Other than temporary impairments recognized", "(.3)", "(91.3)", "(91.0)" ], [ "Net gains (losses) realized on funddispositions", "5.5", "(4.5)", "(10.0)" ], [ "Net gain (loss) recognized on fund holdings", "$27.3", "$(90.2)", "$(117.5)" ] ]

[ [ "", "2007", "2008", "change" ], [ "capital gain distributions received", "$ 22.1", "$ 5.6", "$ -16.5 ( 16.5 )" ], [ "other than temporary impairments recognized", "-.3 ( .3 )", "-91.3 ( 91.3 )", "-91.0 ( 91.0 )" ], [ "net gains ( losses ) realized on funddispositions", "5.5", "-4.5 ( 4.5 )", "-10.0 ( 10.0 )" ], [ "net gain ( loss ) recognized on fund holdings", "$ 27.3", "$ -90.2 ( 90.2 )", "$ -117.5 ( 117.5 )" ] ]

[]

[ "entergy arkansas , inc .", "and subsidiaries management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities .", "results of operations net income 2011 compared to 2010 net income decreased $ 7.7 million primarily due to a higher effective income tax rate , lower other income , and higher other operation and maintenance expenses , substantially offset by higher net revenue , lower depreciation and amortization expenses , and lower interest expense .", "2010 compared to 2009 net income increased $ 105.7 million primarily due to higher net revenue , a lower effective income tax rate , higher other income , and lower depreciation and amortization expenses , partially offset by higher other operation and maintenance expenses .", "net revenue 2011 compared to 2010 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 2011 to 2010 .", "amount ( in millions ) ." ]

[ "the retail electric price variance is primarily due to a base rate increase effective july 2010 .", "see note 2 to the financial statements for more discussion of the rate case settlement .", "the ano decommissioning trust variance is primarily related to the deferral of investment gains from the ano 1 and 2 decommissioning trust in 2010 in accordance with regulatory treatment .", "the gains resulted in an increase in 2010 in interest and investment income and a corresponding increase in regulatory charges with no effect on net income. ." ]

[ [ "", "Amount (In Millions)" ], [ "2010 net revenue", "$1,216.7" ], [ "Retail electric price", "31.0" ], [ "ANO decommissioning trust", "26.4" ], [ "Transmission revenue", "13.1" ], [ "Volume/weather", "(15.9)" ], [ "Net wholesale revenue", "(11.9)" ], [ "Capacity acquisition recovery", "(10.3)" ], [ "Other", "3.2" ], [ "2011 net revenue", "$1,252.3" ] ]

[ [ "", "amount ( in millions )" ], [ "2010 net revenue", "$ 1216.7" ], [ "retail electric price", "31.0" ], [ "ano decommissioning trust", "26.4" ], [ "transmission revenue", "13.1" ], [ "volume/weather", "-15.9 ( 15.9 )" ], [ "net wholesale revenue", "-11.9 ( 11.9 )" ], [ "capacity acquisition recovery", "-10.3 ( 10.3 )" ], [ "other", "3.2" ], [ "2011 net revenue", "$ 1252.3" ] ]

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[ "affiliated company .", "the loss recorded on the sale was approximately $ 14 million and is recorded as a loss on sale of assets and asset impairment expenses in the accompanying consolidated statements of operations .", "in the second quarter of 2002 , the company recorded an impairment charge of approximately $ 40 million , after income taxes , on an equity method investment in a telecommunications company in latin america held by edc .", "the impairment charge resulted from sustained poor operating performance coupled with recent funding problems at the invested company .", "during 2001 , the company lost operational control of central electricity supply corporation ( 2018 2018cesco 2019 2019 ) , a distribution company located in the state of orissa , india .", "cesco is accounted for as a cost method investment .", "in may 2000 , the company completed the acquisition of 100% ( 100 % ) of tractebel power ltd ( 2018 2018tpl 2019 2019 ) for approximately $ 67 million and assumed liabilities of approximately $ 200 million .", "tpl owned 46% ( 46 % ) of nigen .", "the company also acquired an additional 6% ( 6 % ) interest in nigen from minority stockholders during the year ended december 31 , 2000 through the issuance of approximately 99000 common shares of aes stock valued at approximately $ 4.9 million .", "with the completion of these transactions , the company owns approximately 98% ( 98 % ) of nigen 2019s common stock and began consolidating its financial results beginning may 12 , 2000 .", "approximately $ 100 million of the purchase price was allocated to excess of costs over net assets acquired and was amortized through january 1 , 2002 at which time the company adopted sfas no .", "142 and ceased amortization of goodwill .", "in august 2000 , a subsidiary of the company acquired a 49% ( 49 % ) interest in songas limited ( 2018 2018songas 2019 2019 ) for approximately $ 40 million .", "the company acquired an additional 16.79% ( 16.79 % ) of songas for approximately $ 12.5 million , and the company began consolidating this entity in 2002 .", "songas owns the songo songo gas-to-electricity project in tanzania .", "in december 2002 , the company signed a sales purchase agreement to sell songas .", "the sale is expected to close in early 2003 .", "see note 4 for further discussion of the transaction .", "the following table presents summarized comparative financial information ( in millions ) for the company 2019s investments in 50% ( 50 % ) or less owned investments accounted for using the equity method. ." ]

[ "in 2002 , 2001 and 2000 , the results of operations and the financial position of cemig were negatively impacted by the devaluation of the brazilian real and the impairment charge recorded in 2002 .", "the brazilian real devalued 32% ( 32 % ) , 19% ( 19 % ) and 8% ( 8 % ) for the years ended december 31 , 2002 , 2001 and 2000 , respectively .", "the company recorded $ 83 million , $ 210 million , and $ 64 million of pre-tax non-cash foreign currency transaction losses on its investments in brazilian equity method affiliates during 2002 , 2001 and 2000 , respectively. ." ]

[ [ "AS OF AND FOR THE YEARS ENDED DECEMBER 31,", "2002", "2001", "2000" ], [ "Revenues", "$2,832", "$6,147", "$6,241" ], [ "Operating Income", "695", "1,717", "1,989" ], [ "Net Income", "229", "650", "859" ], [ "Current Assets", "1,097", "3,700", "2,423" ], [ "Noncurrent Assets", "6,751", "14,942", "13,080" ], [ "Current Liabilities", "1,418", "3,510", "3,370" ], [ "Noncurrent Liabilities", "3,349", "8,297", "5,927" ], [ "Stockholder's Equity", "3,081", "6,835", "6,206" ] ]

[ [ "as of and for the years ended december 31,", "2002", "2001", "2000" ], [ "revenues", "$ 2832", "$ 6147", "$ 6241" ], [ "operating income", "695", "1717", "1989" ], [ "net income", "229", "650", "859" ], [ "current assets", "1097", "3700", "2423" ], [ "noncurrent assets", "6751", "14942", "13080" ], [ "current liabilities", "1418", "3510", "3370" ], [ "noncurrent liabilities", "3349", "8297", "5927" ], [ "stockholder's equity", "3081", "6835", "6206" ] ]

[ { "arg1": "2832", "arg2": "6147", "op": "minus1-1", "res": "-3315" }, { "arg1": "#0", "arg2": "6147", "op": "divide1-2", "res": "-54%" } ]

[ "\"distribution date\" ) .", "until the distribution date ( or earlier redemption or expiration of the rights ) , the rights will be traded with , and only with , the common stock .", "until a right is exercised , the right will not entitle the holder thereof to any rights as a stockholder .", "if any person or group becomes an acquiring person , each holder of a right , other than rights beneficially owned by the acquiring person , will thereafter have the right to receive upon exercise and payment of the purchase price that number of shares of common stock having a market value of two times the purchase price and , if the company is acquired in a business combination transaction or 50% ( 50 % ) or more of its assets are sold , each holder of a right will thereafter have the right to receive upon exercise and payment of the purchase price that number of shares of common stock of the acquiring company which at the time of the transaction will have a market value of two times the purchase price .", "at any time after any person becomes an acquiring person and prior to the acquisition by such person or group of 50% ( 50 % ) or more of the outstanding common stock , the board of directors of the company may cause the rights ( other than rights owned by such person or group ) to be exchanged , in whole or in part , for common stock or junior preferred shares , at an exchange rate of one share of common stock per right or one half of one-hundredth of a junior preferred share per right .", "at any time prior to the acquisition by a person or group of beneficial ownership of 15% ( 15 % ) or more of the outstanding common stock , the board of directors of the company may redeem the rights at a price of $ 0.01 per right .", "the rights have certain anti-takeover effects , in that they will cause substantial dilution to a person or group that attempts to acquire a significant interest in vertex on terms not approved by the board of directors .", "common stock reserved for future issuance at december 31 , 2005 , the company has reserved shares of common stock for future issuance under all equity compensation plans as follows ( shares in thousands ) : o .", "significant revenue arrangements the company has formed strategic collaborations with pharmaceutical companies and other organizations in the areas of drug discovery , development , and commercialization .", "research , development and commercialization agreements provide the company with financial support and other valuable resources for its research programs and for the development of clinical drug candidates , and the marketing and sales of products .", "collaborative research , development and commercialization agreements in the company's collaborative research , development and commercialization programs the company seeks to discover , develop and commercialize pharmaceutical products in conjunction with and supported by the company's collaborators .", "collaborative research and development arrangements may provide research funding over an initial contract period with renewal and termination options that ." ]

[ "." ]

[ [ "Common stock under stock and option plans", "17,739" ], [ "Common stock under the Vertex Purchase Plan", "842" ], [ "Common stock under the Vertex 401(k) Plan", "270" ], [ "Total", "18,851" ] ]

[ [ "common stock under stock and option plans", "17739" ], [ "common stock under the vertex purchase plan", "842" ], [ "common stock under the vertex 401 ( k ) plan", "270" ], [ "total", "18851" ] ]

[]

[ "american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) the company has selected december 1 as the date to perform its annual impairment test .", "in performing its 2005 and 2004 testing , the company completed an internal appraisal and estimated the fair value of the rental and management reporting unit that contains goodwill utilizing future discounted cash flows and market information .", "based on the appraisals performed , the company determined that goodwill in its rental and management segment was not impaired .", "the company 2019s other intangible assets subject to amortization consist of the following as of december 31 , ( in thousands ) : ." ]

[ "the company amortizes its intangible assets over periods ranging from three to fifteen years .", "amortization of intangible assets for the years ended december 31 , 2005 and 2004 aggregated approximately $ 136.0 million and $ 97.8 million , respectively ( excluding amortization of deferred financing costs , which is included in interest expense ) .", "the company expects to record amortization expense of approximately $ 183.6 million , $ 178.3 million , $ 174.4 million , $ 172.7 million and $ 170.3 million , for the years ended december 31 , 2006 , 2007 , 2008 , 2009 and 2010 , respectively .", "these amounts are subject to changes in estimates until the preliminary allocation of the spectrasite purchase price is finalized .", "6 .", "notes receivable in 2000 , the company loaned tv azteca , s.a .", "de c.v .", "( tv azteca ) , the owner of a major national television network in mexico , $ 119.8 million .", "the loan , which initially bore interest at 12.87% ( 12.87 % ) , payable quarterly , was discounted by the company , as the fair value interest rate at the date of the loan was determined to be 14.25% ( 14.25 % ) .", "the loan was amended effective january 1 , 2003 to increase the original interest rate to 13.11% ( 13.11 % ) .", "as of december 31 , 2005 and 2004 , approximately $ 119.8 million undiscounted ( $ 108.2 million discounted ) under the loan was outstanding and included in notes receivable and other long-term assets in the accompanying consolidated balance sheets .", "the term of the loan is seventy years ; however , the loan may be prepaid by tv azteca without penalty during the last fifty years of the agreement .", "the discount on the loan is being amortized to interest income 2014tv azteca , net , using the effective interest method over the seventy-year term of the loan .", "simultaneous with the signing of the loan agreement , the company also entered into a seventy year economic rights agreement with tv azteca regarding space not used by tv azteca on approximately 190 of its broadcast towers .", "in exchange for the issuance of the below market interest rate loan discussed above and the annual payment of $ 1.5 million to tv azteca ( under the economic rights agreement ) , the company has the right to market and lease the unused tower space on the broadcast towers ( the economic rights ) .", "tv azteca retains title to these towers and is responsible for their operation and maintenance .", "the company is entitled to 100% ( 100 % ) of the revenues generated from leases with tenants on the unused space and is responsible for any incremental operating expenses associated with those tenants. ." ]

[ [ "", "2005", "2004" ], [ "Acquired customer base and network location intangibles", "$2,606,546", "$1,369,607" ], [ "Deferred financing costs", "65,623", "89,736" ], [ "Acquired licenses and other intangibles", "51,703", "43,404" ], [ "Total", "2,723,872", "1,502,747" ], [ "Less accumulated amortization", "(646,560)", "(517,444)" ], [ "Other intangible assets, net", "$2,077,312", "$985,303" ] ]

[ [ "", "2005", "2004" ], [ "acquired customer base and network location intangibles", "$ 2606546", "$ 1369607" ], [ "deferred financing costs", "65623", "89736" ], [ "acquired licenses and other intangibles", "51703", "43404" ], [ "total", "2723872", "1502747" ], [ "less accumulated amortization", "-646560 ( 646560 )", "-517444 ( 517444 )" ], [ "other intangible assets net", "$ 2077312", "$ 985303" ] ]

[ { "arg1": "183.6", "arg2": "178.3", "op": "minus2-1", "res": "5.3" }, { "arg1": "#0", "arg2": "178.3", "op": "divide2-2", "res": "2.97%" } ]

[ "notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have guarantees of certain obligations of our subsidiaries relating principally to credit facilities , certain media payables and operating leases of certain subsidiaries .", "the amount of such parent company guarantees was $ 769.3 and $ 706.7 as of december 31 , 2009 and 2008 , 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 , 2009 , there are 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 , 2009 .", "the estimated amounts listed would be paid in the event of exercise at the earliest exercise date .", "see note 6 for further information relating to the payment structure of our acquisitions .", "all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress. ." ]

[ "1 we have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions .", "in such instances , we have included the related estimated contingent acquisition obligation in the period when the earliest related option is exercisable .", "we have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of december 31 , 2009 .", "as such , these estimated acquisition payments of $ 20.5 have been included within the total payments expected to be made in 2010 in the table and , if not made in 2010 , will continue to carry forward into 2011 or beyond until they are exercised or expire .", "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 .", "legal matters we are involved in legal and administrative proceedings of various types .", "while any litigation contains an element of uncertainty , we do not believe that the outcome of such proceedings will have a material adverse effect on our financial condition , results of operations or cash flows .", "note 16 : recent accounting standards in december 2009 , the financial accounting standards board ( 201cfasb 201d ) amended authoritative guidance related to accounting for transfers and servicing of financial assets and extinguishments of liabilities .", "the guidance will be effective for the company beginning january 1 , 2010 .", "the guidance eliminates the concept of a qualifying special-purpose entity and changes the criteria for derecognizing financial assets .", "in addition , the guidance will require additional disclosures related to a company 2019s continued involvement with financial assets that have been transferred .", "we do not expect the adoption of this amended guidance to have a significant impact on our consolidated financial statements .", "in december 2009 , the fasb amended authoritative guidance for consolidating variable interest entities .", "the guidance will be effective for the company beginning january 1 , 2010 .", "specifically , the guidance revises factors that should be considered by a reporting entity when determining whether an entity that is insufficiently capitalized or is not controlled through voting ( or similar rights ) should be consolidated .", "this guidance also includes revised financial statement disclosures regarding the reporting entity 2019s involvement , including significant risk exposures as a result of that involvement , and the impact the relationship has on the reporting entity 2019s financial statements .", "we are currently evaluating the potential impact of the amended guidance on our consolidated financial statements. ." ]

[ [ "", "2010", "2011", "2012", "2013", "2014", "Thereafter", "Total" ], [ "Deferred acquisition payments", "$20.5", "$34.8", "$1.2", "$1.1", "$2.1", "$0.3", "$60.0" ], [ "Redeemable noncontrolling interests and call options with affiliates¹", "44.4", "47.9", "40.5", "36.3", "3.3", "—", "172.4" ], [ "Total contingent acquisition payments", "64.9", "82.7", "41.7", "37.4", "5.4", "0.3", "232.4" ], [ "Less: cash compensation expense included above", "1.0", "1.0", "1.0", "0.5", "—", "—", "3.5" ], [ "Total", "$63.9", "$81.7", "$40.7", "$36.9", "$5.4", "$0.3", "$228.9" ] ]

[ [ "", "2010", "2011", "2012", "2013", "2014", "thereafter", "total" ], [ "deferred acquisition payments", "$ 20.5", "$ 34.8", "$ 1.2", "$ 1.1", "$ 2.1", "$ 0.3", "$ 60.0" ], [ "redeemable noncontrolling interests and call options with affiliates1", "44.4", "47.9", "40.5", "36.3", "3.3", "2014", "172.4" ], [ "total contingent acquisition payments", "64.9", "82.7", "41.7", "37.4", "5.4", "0.3", "232.4" ], [ "less : cash compensation expense included above", "1.0", "1.0", "1.0", "0.5", "2014", "2014", "3.5" ], [ "total", "$ 63.9", "$ 81.7", "$ 40.7", "$ 36.9", "$ 5.4", "$ 0.3", "$ 228.9" ] ]

[ { "arg1": "34.8", "arg2": "1.2", "op": "minus2-1", "res": "33.6" }, { "arg1": "#0", "arg2": "34.8", "op": "divide2-2", "res": "0.9655" }, { "arg1": "#1", "arg2": "const_100", "op": "multiply2-3", "res": "96.55" } ]

[ "58| | duke realty corporation annual report 2009 we recognized a loss of $ 1.1 million upon acquisition , which represents the difference between the fair value of the recognized assets and the carrying value of our pre-existing equity interest .", "the acquisition date fair value of the net recognized assets as compared to the acquisition date carrying value of our outstanding advances and accrued interest , as well as the acquisition date carrying value of our pre-existing equity interests , is shown as follows ( in thousands ) : ." ]

[ "since april 1 , 2009 , the results of operations for both acquired entities have been included in continuing operations in our consolidated financial statements .", "due to our significant pre-existing ownership and financing positions in the two acquired entities , the inclusion of their results of operations did not have a material effect on our operating income .", "acquisitions we acquired income producing real estate related assets of $ 32.1 million , $ 60.5 million and $ 219.9 million in 2009 , 2008 and 2007 , respectively .", "in december 2007 , in order to further establish our property positions around strategic port locations , we purchased a portfolio of five industrial buildings in seattle , virginia and houston , as well as approximately 161 acres of undeveloped land and a 12-acre container storage facility in houston .", "the total price was $ 89.7 million and was financed in part through assumption of secured debt that had a fair value of $ 34.3 million .", "of the total purchase price , $ 64.1 million was allocated to in-service real estate assets , $ 20.0 million was allocated to undeveloped land and the container storage facility , $ 5.4 million was allocated to lease related intangible assets , and the remaining amount was allocated to acquired working capital related assets and liabilities .", "the results of operations for the acquired properties since the date of acquisition have been included in continuing rental operations in our consolidated financial statements .", "all other acquisitions were not individually material .", "dispositions we disposed of income producing real estate related assets with gross proceeds of $ 267.0 million , $ 426.2 million and $ 590.4 million in 2009 , 2008 and 2007 , respectively .", "we sold five properties in 2009 and seven properties in 2008 to an unconsolidated joint venture .", "the gross proceeds totaled $ 84.3 million and $ 226.2 million for the years ended december 31 , 2009 and 2008 , respectively .", "in march 2007 , as part of our capital recycling program , we sold a portfolio of eight suburban office properties totaling 894000 square feet in the cleveland market .", "the sales price totaled $ 140.4 million , of which we received net proceeds of $ 139.3 million .", "we also sold a portfolio of twelve flex and light industrial properties in july 2007 , totaling 865000 square feet in the st .", "louis market , for a sales price of $ 65.0 million , of which we received net proceeds of $ 64.2 million .", "all other dispositions were not individually material .", "( 4 ) related party transactions we provide property management , leasing , construction and other tenant related services to unconsolidated companies in which we have equity interests .", "for the years ended december 31 , 2009 , 2008 and 2007 , respectively , we earned management fees of $ 8.4 million , $ 7.8 million and $ 7.1 million , leasing fees of $ 4.2 million , $ 2.8 million and $ 4.2 million and construction and development fees of $ 10.2 million , $ 12.7 million and $ 13.1 million from these companies .", "we recorded these fees based on contractual terms that approximate market rates for these types of ." ]

[ [ "Net fair value of acquired assets and liabilities", "$206,852" ], [ "Less advances to acquired entities eliminated upon consolidation", "(173,006)" ], [ "Less acquisition date carrying value of equity in acquired entities", "(34,908)" ], [ "Loss on business combination", "$(1,062)" ] ]

[ [ "net fair value of acquired assets and liabilities", "$ 206852" ], [ "less advances to acquired entities eliminated upon consolidation", "-173006 ( 173006 )" ], [ "less acquisition date carrying value of equity in acquired entities", "-34908 ( 34908 )" ], [ "loss on business combination", "$ -1062 ( 1062 )" ] ]

[]

[ "n o t e s t o t h e 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 20 .", "statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate .", "these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities .", "there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries .", "the company 2019s u.s .", "subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators .", "statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items .", "the statutory capital and surplus of the u.s .", "subsidiaries met regulatory requirements for 2009 , 2008 , and 2007 .", "the amount of dividends available to be paid in 2010 , without prior approval from the state insurance departments , totals $ 733 million .", "the combined statutory capital and surplus and statutory net income of the bermuda and u.s .", "subsidiaries as at and for the years ended december 31 , 2009 , 2008 , and 2007 , are as follows: ." ]

[ "as permitted by the restructuring discussed previously in note 7 , certain of the company 2019s u.s .", "subsidiaries discount certain a&e liabilities , which increased statutory capital and surplus by approximately $ 215 million , $ 211 million , and $ 140 million at december 31 , 2009 , 2008 , and 2007 , respectively .", "the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations .", "some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements .", "in some countries , the company must obtain licenses issued by governmental authorities to conduct local insurance business .", "these licenses may be subject to reserves and minimum capital and solvency tests .", "jurisdictions may impose fines , censure , and/or criminal sanctions for violation of regulatory requirements .", "21 .", "information provided in connection with outstanding debt of subsidiaries the following tables present condensed consolidating financial information at december 31 , 2009 , and december 31 , 2008 , and for the years ended december 31 , 2009 , 2008 , and 2007 , for ace limited ( the parent guarantor ) and its 201csubsidiary issuer 201d , ace ina holdings , inc .", "the subsidiary issuer is an indirect 100 percent-owned subsidiary of the parent guarantor .", "investments in subsidiaries are accounted for by the parent guarantor under the equity method for purposes of the supplemental consolidating presentation .", "earnings of subsidiaries are reflected in the parent guarantor 2019s investment accounts and earnings .", "the parent guarantor fully and unconditionally guarantees certain of the debt of the subsidiary issuer. ." ]

[ [ "", "Bermuda Subsidiaries", "U.S. Subsidiaries" ], [ "(in millions of U.S. dollars)", "2009", "2008", "2007", "2009", "2008", "2007" ], [ "Statutory capital and surplus", "$9,299", "$6,205", "$8,579", "$5,801", "$5,368", "$5,321" ], [ "Statutory net income", "$2,472", "$2,196", "$1,535", "$870", "$818", "$873" ] ]

[ [ "( in millions of u.s . dollars )", "bermuda subsidiaries 2009", "bermuda subsidiaries 2008", "bermuda subsidiaries 2007", "bermuda subsidiaries 2009", "bermuda subsidiaries 2008", "2007" ], [ "statutory capital and surplus", "$ 9299", "$ 6205", "$ 8579", "$ 5801", "$ 5368", "$ 5321" ], [ "statutory net income", "$ 2472", "$ 2196", "$ 1535", "$ 870", "$ 818", "$ 873" ] ]

[ { "arg1": "2472", "arg2": "2196", "op": "minus2-1", "res": "276" }, { "arg1": "#0", "arg2": "2196", "op": "divide2-2", "res": "12.6%" } ]

[ "notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201ccompany 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d .", "1 .", "nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s .", "our network includes 31974 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s .", "gateways and providing several corridors to key mexican gateways .", "we own 26012 miles and operate on the remainder pursuant to trackage rights or leases .", "we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .", "export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .", "the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .", "although we provide and review revenue by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network .", "the following table provides freight revenue by commodity group : millions 2014 2013 2012 ." ]

[ "although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s .", "each of our commodity groups includes revenue from shipments to and from mexico .", "included in the above table are revenues from our mexico business which amounted to $ 2.3 billion in 2014 , $ 2.1 billion in 2013 , and $ 1.9 billion in 2012 .", "basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .", "( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .", "2 .", "significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .", "investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .", "all intercompany transactions are eliminated .", "we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .", "cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less .", "accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts .", "the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions .", "receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. ." ]

[ [ "<i>Millions</i>", "<i>2014</i>", "<i>2013</i>", "<i>2012</i>" ], [ "Agricultural Products", "$3,777", "$3,276", "$3,280" ], [ "Automotive", "2,103", "2,077", "1,807" ], [ "Chemicals", "3,664", "3,501", "3,238" ], [ "Coal", "4,127", "3,978", "3,912" ], [ "Industrial Products", "4,400", "3,822", "3,494" ], [ "Intermodal", "4,489", "4,030", "3,955" ], [ "Total freight revenues", "$22,560", "$20,684", "$19,686" ], [ "Other revenues", "1,428", "1,279", "1,240" ], [ "Total operatingrevenues", "$23,988", "$21,963", "$20,926" ] ]

[ [ "millions", "2014", "2013", "2012" ], [ "agricultural products", "$ 3777", "$ 3276", "$ 3280" ], [ "automotive", "2103", "2077", "1807" ], [ "chemicals", "3664", "3501", "3238" ], [ "coal", "4127", "3978", "3912" ], [ "industrial products", "4400", "3822", "3494" ], [ "intermodal", "4489", "4030", "3955" ], [ "total freight revenues", "$ 22560", "$ 20684", "$ 19686" ], [ "other revenues", "1428", "1279", "1240" ], [ "total operatingrevenues", "$ 23988", "$ 21963", "$ 20926" ] ]

[]

[ "table of contents other areas in which we do business .", "depending on the scope of such regulation , certain of our facilities and operations , or the operations of our suppliers , may be subject to additional operating and other permit requirements , potentially resulting in increased operating costs .", "future regulatory developments future regulatory developments and actions could affect operations and increase operating costs for the airline industry , including our airline subsidiaries .", "see part i , item 1a .", "risk factors 2013 201cif we are unable to obtain and maintain adequate facilities and infrastructure throughout our system and , at some airports , adequate slots , we may be unable to operate our existing flight schedule and to expand or change our route network in the future , which may have a material adverse impact on our operations , 201d 201cour business is subject to extensive government regulation , which may result in increases in our costs , disruptions to our operations , limits on our operating flexibility , reductions in the demand for air travel , and competitive disadvantages 201d and 201cwe are subject to many forms of environmental regulation and may incur substantial costs as a result 201d for additional information .", "employees and labor relations the airline business is labor intensive .", "in 2015 , salaries , wages and benefits were our largest expenses and represented approximately 31% ( 31 % ) of our operating expenses .", "the table below presents our approximate number of active full-time equivalent employees as of december 31 , 2015 .", "mainline operations wholly-owned regional carriers total ." ]

[ "." ]

[ [ "", "Mainline Operations", "Wholly-owned Regional Carriers", "Total" ], [ "Pilots and Flight Crew Training Instructors", "13,100", "3,200", "16,300" ], [ "Flight Attendants", "24,100", "1,900", "26,000" ], [ "Maintenance personnel", "14,400", "1,800", "16,200" ], [ "Fleet Service personnel", "16,100", "3,200", "19,300" ], [ "Passenger Service personnel", "16,500", "7,100", "23,600" ], [ "Administrative and other", "14,700", "2,400", "17,100" ], [ "Total", "98,900", "19,600", "118,500" ] ]

[ [ "", "mainline operations", "wholly-owned regional carriers", "total" ], [ "pilots and flight crew training instructors", "13100", "3200", "16300" ], [ "flight attendants", "24100", "1900", "26000" ], [ "maintenance personnel", "14400", "1800", "16200" ], [ "fleet service personnel", "16100", "3200", "19300" ], [ "passenger service personnel", "16500", "7100", "23600" ], [ "administrative and other", "14700", "2400", "17100" ], [ "total", "98900", "19600", "118500" ] ]

[]

[ "december 31 , 2018 .", "alcoa corporation will supply all required raw materials to arconic and arconic will process the raw materials into finished can sheet coils ready for shipment to the end customer .", "tolling revenue for the two months ended december 31 , 2016 was approximately $ 37 million .", "in 2017 , demand in the automotive end market is expected to continue to grow due to the growing demand for innovative products and aluminum-intensive vehicles .", "demand from the commercial airframe end market is expected to be flat in 2017 as the ramp up of new programs is offset by customer destocking and lower build rates for aluminum intensive wide-body programs .", "sales to the packaging market are expected to decline due to continuing pricing pressure within this market and the ramp-down of the north american packaging operations .", "net productivity improvements are anticipated to continue .", "engineered products and solutions ." ]

[ "the engineered products and solutions segment produces products that are used primarily in the aerospace ( commercial and defense ) , commercial transportation , and power generation end markets .", "such products include fastening systems ( titanium , steel , and nickel superalloys ) and seamless rolled rings ( mostly nickel superalloys ) ; investment castings ( nickel superalloys , titanium , and aluminum ) , including airfoils and forged jet engine components ( e.g. , jet engine disks ) , and extruded , machined and formed aircraft parts ( titanium and aluminum ) , all of which are sold directly to customers and through distributors .", "more than 75% ( 75 % ) of the third-party sales in this segment are from the aerospace end market .", "a small part of this segment also produces various forged , extruded , and machined metal products ( titanium , aluminum and steel ) for the oil and gas , industrial products , automotive , and land and sea defense end markets .", "seasonal decreases in sales are generally experienced in the third quarter of the year due to the european summer slowdown across all end markets .", "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 , british pound and the euro .", "in july 2015 , arconic completed the acquisition of rti , a global supplier of titanium and specialty metal products and services for the commercial aerospace , defense , energy , and medical device end markets .", "the purpose of the acquisition was to expand arconic 2019s range of titanium offerings and add advanced technologies and materials , primarily related to the aerospace end market .", "in 2014 , rti generated net sales of $ 794 and had approximately 2600 employees .", "the operating results and assets and liabilities of rti have been included within the engineered products and solutions segment since the date of acquisition .", "in march 2015 , arconic completed the acquisition of tital , a privately held aerospace castings company with approximately 650 employees based in germany .", "tital produces aluminum and titanium investment casting products for the aerospace and defense end markets .", "in 2014 , tital generated sales of approximately $ 100 .", "the purpose of the acquisition was to capture increasing demand for advanced jet engine components made of titanium , establish titanium- casting capabilities in europe , and expand existing aluminum casting capacity .", "the operating results and assets and liabilities of tital have been included within the engineered products and solutions segment since the date of acquisition .", "in november 2014 , arconic completed the acquisition of firth rixson , a global leader in aerospace jet engine components .", "firth rixson manufactures rings , forgings , and metal products for the aerospace end market , as well as other markets requiring highly-engineered material applications .", "the purpose of the acquisition was to strengthen arconic 2019s aerospace business and position the company to capture additional aerospace growth with a broader range of high-growth , value-add jet engine components .", "firth rixson generated sales of approximately $ 970 in 2014 and had 13 operating facilities in the united states , united kingdom , europe , and asia employing approximately 2400 people combined .", "the operating results and assets and liabilities of firth rixson have been included within the engineered products and solutions segment since the date of acquisition. ." ]

[ [ "", "2016", "2015", "2014" ], [ "Third-party sales", "$5,728", "$5,342", "$4,217" ], [ "ATOI", "$642", "$595", "$579" ] ]

[ [ "", "2016", "2015", "2014" ], [ "third-party sales", "$ 5728", "$ 5342", "$ 4217" ], [ "atoi", "$ 642", "$ 595", "$ 579" ] ]

[]

[ "liquidity and capital resources the major components of changes in cash flows for 2016 , 2015 and 2014 are discussed in the following paragraphs .", "the following table summarizes our cash flow from operating activities , investing activities and financing activities for the years ended december 31 , 2016 , 2015 and 2014 ( in millions of dollars ) : ." ]

[ "cash flows provided by operating activities the most significant items affecting the comparison of our operating cash flows for 2016 and 2015 are summarized below : changes in assets and liabilities , net of effects from business acquisitions and divestitures , decreased our cash flow from operations by $ 205.2 million in 2016 , compared to a decrease of $ 316.7 million in 2015 , primarily as a result of the following : 2022 our accounts receivable , exclusive of the change in allowance for doubtful accounts and customer credits , increased $ 52.3 million during 2016 due to the timing of billings net of collections , compared to a $ 15.7 million increase in 2015 .", "as of december 31 , 2016 and 2015 , our days sales outstanding were 38.1 and 38.3 days , or 26.1 and 25.8 days net of deferred revenue , respectively .", "2022 our accounts payable decreased $ 9.8 million during 2016 compared to an increase of $ 35.6 million during 2015 , due to the timing of payments .", "2022 cash paid for capping , closure and post-closure obligations was $ 11.0 million lower during 2016 compared to 2015 .", "the decrease in cash paid for capping , closure , and post-closure obligations is primarily due to payments in 2015 related to a required capping event at one of our closed landfills .", "2022 cash paid for remediation obligations was $ 13.2 million lower during 2016 compared to 2015 primarily due to the timing of obligations .", "in addition , cash paid for income taxes was approximately $ 265 million and $ 321 million for 2016 and 2015 , respectively .", "income taxes paid in 2016 and 2015 reflect the favorable tax depreciation provisions of the protecting americans from tax hikes act signed into law in december 2015 as well as the realization of certain tax credits .", "cash paid for interest was $ 330.2 million and $ 327.6 million for 2016 and 2015 , respectively .", "the most significant items affecting the comparison of our operating cash flows for 2015 and 2014 are summarized below : changes in assets and liabilities , net of effects of business acquisitions and divestitures , decreased our cash flow from operations by $ 316.7 million in 2015 , compared to a decrease of $ 295.6 million in 2014 , primarily as a result of the following : 2022 our accounts receivable , exclusive of the change in allowance for doubtful accounts and customer credits , increased $ 15.7 million during 2015 due to the timing of billings , net of collections , compared to a $ 54.3 million increase in 2014 .", "as of december 31 , 2015 and 2014 , our days sales outstanding were 38 days , or 26 and 25 days net of deferred revenue , respectively .", "2022 our accounts payable increased $ 35.6 million and $ 3.3 million during 2015 and 2014 , respectively , due to the timing of payments as of december 31 , 2015. ." ]

[ [ "", "2016", "2015", "2014" ], [ "Net cash provided by operating activities", "$1,847.8", "$1,679.7", "$1,529.8" ], [ "Net cash used in investing activities", "(961.2)", "(1,482.8)", "(959.8)" ], [ "Net cash used in financing activities", "(851.2)", "(239.7)", "(708.1)" ] ]

[ [ "", "2016", "2015", "2014" ], [ "net cash provided by operating activities", "$ 1847.8", "$ 1679.7", "$ 1529.8" ], [ "net cash used in investing activities", "-961.2 ( 961.2 )", "-1482.8 ( 1482.8 )", "-959.8 ( 959.8 )" ], [ "net cash used in financing activities", "-851.2 ( 851.2 )", "-239.7 ( 239.7 )", "-708.1 ( 708.1 )" ] ]

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[ "entergy arkansas , inc .", "management's financial discussion and analysis gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to : an increase of $ 114 million in gross wholesale revenue due to an increase in the average price of energy available for resale sales and an increase in sales to affiliated customers ; an increase of $ 106.1 million in production cost allocation rider revenues which became effective in july 2007 as a result of the system agreement proceedings .", "as a result of the system agreement proceedings , entergy arkansas also has a corresponding increase in deferred fuel expense for payments to other entergy system companies such that there is no effect on net income .", "entergy arkansas makes payments over a seven-month period but collections from customers occur over a twelve-month period .", "the production cost allocation rider is discussed in note 2 to the financial statements and the system agreement proceedings are referenced below under \"federal regulation\" ; and an increase of $ 58.9 million in fuel cost recovery revenues due to changes in the energy cost recovery rider effective april 2008 and september 2008 , partially offset by decreased usage .", "the energy cost recovery rider filings are discussed in note 2 to the financial statements .", "the increase was partially offset by a decrease of $ 14.6 million related to volume/weather , as discussed above .", "fuel and purchased power expenses increased primarily due to an increase of $ 106.1 million in deferred system agreement payments , as discussed above and an increase in the average market price of purchased power .", "2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory credits .", "following is an analysis of the change in net revenue comparing 2007 to 2006 .", "amount ( in millions ) ." ]

[ "the net wholesale revenue variance is primarily due to lower wholesale revenues in the third quarter 2006 due to an october 2006 ferc order requiring entergy arkansas to make a refund to a coal plant co-owner resulting from a contract dispute , in addition to re-pricing revisions , retroactive to 2003 , of $ 5.9 million of purchased power agreements among entergy system companies as directed by the ferc .", "the transmission revenue variance is primarily due to higher rates and the addition of new transmission customers in late 2006 .", "the deferred fuel cost revisions variance is primarily due to the 2006 energy cost recovery true-up , made in the first quarter 2007 , which increased net revenue by $ 6.6 million .", "gross operating revenue and fuel and purchased power expenses gross operating revenues decreased primarily due to a decrease of $ 173.1 million in fuel cost recovery revenues due to a decrease in the energy cost recovery rider effective april 2007 .", "the energy cost recovery rider is discussed in note 2 to the financial statements .", "the decrease was partially offset by production cost allocation rider revenues of $ 124.1 million that became effective in july 2007 as a result of the system agreement proceedings .", "as ." ]

[ [ "", "Amount (In Millions)" ], [ "2006 net revenue", "$1,074.5" ], [ "Net wholesale revenue", "13.2" ], [ "Transmission revenue", "11.8" ], [ "Deferred fuel costs revisions", "8.6" ], [ "Other", "2.5" ], [ "2007 net revenue", "$1,110.6" ] ]

[ [ "", "amount ( in millions )" ], [ "2006 net revenue", "$ 1074.5" ], [ "net wholesale revenue", "13.2" ], [ "transmission revenue", "11.8" ], [ "deferred fuel costs revisions", "8.6" ], [ "other", "2.5" ], [ "2007 net revenue", "$ 1110.6" ] ]

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

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

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

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

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[ "$ 43.3 million in 2011 compared to $ 34.1 million in 2010 .", "the retail segment represented 13% ( 13 % ) and 15% ( 15 % ) of the company 2019s total net sales in 2011 and 2010 , respectively .", "the retail segment 2019s operating income was $ 4.7 billion , $ 3.2 billion , and $ 2.3 billion during 2012 , 2011 , and 2010 respectively .", "these year-over-year increases in retail operating income were primarily attributable to higher overall net sales that resulted in significantly higher average revenue per store during the respective years .", "gross margin gross margin for 2012 , 2011 and 2010 are as follows ( in millions , except gross margin percentages ) : ." ]

[ "the gross margin percentage in 2012 was 43.9% ( 43.9 % ) , compared to 40.5% ( 40.5 % ) in 2011 .", "this year-over-year increase in gross margin was largely driven by lower commodity and other product costs , a higher mix of iphone sales , and improved leverage on fixed costs from higher net sales .", "the increase in gross margin was partially offset by the impact of a stronger u.s .", "dollar .", "the gross margin percentage during the first half of 2012 was 45.9% ( 45.9 % ) compared to 41.4% ( 41.4 % ) during the second half of 2012 .", "the primary drivers of higher gross margin in the first half of 2012 compared to the second half are a higher mix of iphone sales and improved leverage on fixed costs from higher net sales .", "additionally , gross margin in the second half of 2012 was also affected by the introduction of new products with flat pricing that have higher cost structures and deliver greater value to customers , price reductions on certain existing products , higher transition costs associated with product launches , and continued strengthening of the u.s .", "dollar ; partially offset by lower commodity costs .", "the gross margin percentage in 2011 was 40.5% ( 40.5 % ) , compared to 39.4% ( 39.4 % ) in 2010 .", "this year-over-year increase in gross margin was largely driven by lower commodity and other product costs .", "the company expects to experience decreases in its gross margin percentage in future periods , as compared to levels achieved during 2012 , and the company anticipates gross margin of about 36% ( 36 % ) during the first quarter of 2013 .", "expected future declines in gross margin are largely due to a higher mix of new and innovative products with flat or reduced pricing that have higher cost structures and deliver greater value to customers and anticipated component cost and other cost increases .", "future strengthening of the u.s .", "dollar could further negatively impact gross margin .", "the foregoing statements regarding the company 2019s expected gross margin percentage in future periods , including the first quarter of 2013 , are forward-looking and could differ from actual results because of several factors including , but not limited to those set forth above in part i , item 1a of this form 10-k under the heading 201crisk factors 201d and those described in this paragraph .", "in general , gross margins and margins on individual products will remain under downward pressure due to a variety of factors , including continued industry wide global product pricing pressures , increased competition , compressed product life cycles , product transitions and potential increases in the cost of components , as well as potential increases in the costs of outside manufacturing services and a potential shift in the company 2019s sales mix towards products with lower gross margins .", "in response to competitive pressures , the company expects it will continue to take product pricing actions , which would adversely affect gross margins .", "gross margins could also be affected by the company 2019s ability to manage product quality and warranty costs effectively and to stimulate demand for certain of its products .", "due to the company 2019s significant international operations , financial results can be significantly affected in the short-term by fluctuations in exchange rates. ." ]

[ [ "", "2012", "2011", "2010" ], [ "Net sales", "$156,508", "$108,249", "$65,225" ], [ "Cost of sales", "87,846", "64,431", "39,541" ], [ "Gross margin", "$68,662", "$43,818", "$25,684" ], [ "Gross margin percentage", "43.9%", "40.5%", "39.4%" ] ]

[ [ "", "2012", "2011", "2010" ], [ "net sales", "$ 156508", "$ 108249", "$ 65225" ], [ "cost of sales", "87846", "64431", "39541" ], [ "gross margin", "$ 68662", "$ 43818", "$ 25684" ], [ "gross margin percentage", "43.9% ( 43.9 % )", "40.5% ( 40.5 % )", "39.4% ( 39.4 % )" ] ]

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

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

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

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

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[ "financial statement impact we believe that our accruals for sales returns , rebates , and discounts are reasonable and appropriate based on current facts and circumstances .", "our global rebate and discount liabilities are included in sales rebates and discounts on our consolidated balance sheet .", "our global sales return liability is included in other current liabilities and other noncurrent liabilities on our consolidated balance sheet .", "as of december 31 , 2018 , a 5 percent change in our global sales return , rebate , and discount liability would have led to an approximate $ 275 million effect on our income before income taxes .", "the portion of our global sales return , rebate , and discount liability resulting from sales of our products in the u.s .", "was approximately 90 percent as of december 31 , 2018 and december 31 , 2017 .", "the following represents a roll-forward of our most significant u.s .", "pharmaceutical sales return , rebate , and discount liability balances , including managed care , medicare , and medicaid: ." ]

[ "( 1 ) adjustments of the estimates for these returns , rebates , and discounts to actual results were approximately 1 percent of consolidated net sales for each of the years presented .", "product litigation liabilities and other contingencies background and uncertainties product litigation liabilities and other contingencies are , by their nature , uncertain and based upon complex judgments and probabilities .", "the factors we consider in developing our product litigation liability reserves and other contingent liability amounts include the merits and jurisdiction of the litigation , the nature and the number of other similar current and past matters , the nature of the product and the current assessment of the science subject to the litigation , and the likelihood of settlement and current state of settlement discussions , if any .", "in addition , we accrue for certain product liability claims incurred , but not filed , to the extent we can formulate a reasonable estimate of their costs based primarily on historical claims experience and data regarding product usage .", "we accrue legal defense costs expected to be incurred in connection with significant product liability contingencies when both probable and reasonably estimable .", "we also consider the insurance coverage we have to diminish the exposure for periods covered by insurance .", "in assessing our insurance coverage , we consider the policy coverage limits and exclusions , the potential for denial of coverage by the insurance company , the financial condition of the insurers , and the possibility of and length of time for collection .", "due to a very restrictive market for product liability insurance , we are self-insured for product liability losses for all our currently marketed products .", "in addition to insurance coverage , we also consider any third-party indemnification to which we are entitled or under which we are obligated .", "with respect to our third-party indemnification rights , these considerations include the nature of the indemnification , the financial condition of the indemnifying party , and the possibility of and length of time for collection .", "the litigation accruals and environmental liabilities and the related estimated insurance recoverables have been reflected on a gross basis as liabilities and assets , respectively , on our consolidated balance sheets .", "impairment of indefinite-lived and long-lived assets background and uncertainties we review the carrying value of long-lived assets ( both intangible and tangible ) for potential impairment on a periodic basis and whenever events or changes in circumstances indicate the carrying value of an asset ( or asset group ) may not be recoverable .", "we identify impairment by comparing the projected undiscounted cash flows to be generated by the asset ( or asset group ) to its carrying value .", "if an impairment is identified , a loss is recorded equal to the excess of the asset 2019s net book value over its fair value , and the cost basis is adjusted .", "goodwill and indefinite-lived intangible assets are reviewed for impairment at least annually and when certain impairment indicators are present .", "when required , a comparison of fair value to the carrying amount of assets is performed to determine the amount of any impairment. ." ]

[ [ "(Dollars in millions)", "2018", "2017" ], [ "Sales return, rebate, and discount liabilities, beginning of year", "$4,172.0", "$3,601.8" ], [ "Reduction of net sales due to sales returns, discounts, and rebates⁽¹⁾", "12,529.6", "10,603.4" ], [ "Cash payments of discounts and rebates", "(12,023.4)", "(10,033.2)" ], [ "Sales return, rebate, and discount liabilities, end of year", "$4,678.2", "$4,172.0" ] ]

[ [ "( dollars in millions )", "2018", "2017" ], [ "sales return rebate and discount liabilities beginning of year", "$ 4172.0", "$ 3601.8" ], [ "reduction of net sales due to sales returns discounts and rebates ( 1 )", "12529.6", "10603.4" ], [ "cash payments of discounts and rebates", "-12023.4 ( 12023.4 )", "-10033.2 ( 10033.2 )" ], [ "sales return rebate and discount liabilities end of year", "$ 4678.2", "$ 4172.0" ] ]

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[ "22 general mills 2014 annual report 23 gross margin declined 1 percent in fiscal 2014 versus fiscal 2013 .", "gross margin as a percent of net sales of 36 percent was relatively flat compared to fiscal 2013 .", "selling , general and administrative ( sg&a ) expenses decreased $ 78 million in fiscal 2014 versus fiscal 2013 .", "the decrease in sg&a expenses was primarily driven by a 3 percent decrease in advertising and media expense , a smaller contribution to the general mills foundation , a decrease in incentive compensation expense and lower pension expense compared to fiscal 2013 .", "in fiscal 2014 , we recorded a $ 39 million charge related to venezuela currency devaluation compared to a $ 9 million charge in fiscal 2013 .", "in addition , we recorded $ 12 million of inte- gration costs in fiscal 2013 related to our acquisition of yoki .", "sg&a expenses as a percent of net sales decreased 1 percent compared to fiscal 2013 .", "restructuring , impairment , and other exit costs totaled $ 4 million in fiscal 2014 .", "the restructuring charge related to a productivity and cost savings plan approved in the fourth quarter of fiscal 2012 .", "these restructuring actions were completed in fiscal 2014 .", "in fiscal 2014 , we paid $ 22 million in cash related to restructuring actions .", "during fiscal 2014 , we recorded a divestiture gain of $ 66 million related to the sale of certain grain elevators in our u.s .", "retail segment .", "there were no divestitures in fiscal 2013 .", "interest , net for fiscal 2014 totaled $ 302 million , $ 15 million lower than fiscal 2013 .", "the average interest rate decreased 41 basis points , including the effect of the mix of debt , generating a $ 31 million decrease in net interest .", "average interest bearing instruments increased $ 367 million , generating a $ 16 million increase in net interest .", "our consolidated effective tax rate for fiscal 2014 was 33.3 percent compared to 29.2 percent in fiscal 2013 .", "the 4.1 percentage point increase was primarily related to the restructuring of our general mills cereals , llc ( gmc ) subsidiary during the first quarter of 2013 which resulted in a $ 63 million decrease to deferred income tax liabilities related to the tax basis of the investment in gmc and certain distributed assets , with a correspond- ing non-cash reduction to income taxes .", "during fiscal 2013 , we also recorded a $ 34 million discrete decrease in income tax expense and an increase in our deferred tax assets related to certain actions taken to restore part of the tax benefits associated with medicare part d subsidies which had previously been reduced in fiscal 2010 with the enactment of the patient protection and affordable care act , as amended by the health care and education reconciliation act of 2010 .", "our fiscal 2013 tax expense also includes a $ 12 million charge associated with the liquidation of a corporate investment .", "after-tax earnings from joint ventures for fiscal 2014 decreased to $ 90 million compared to $ 99 million in fiscal 2013 primarily driven by increased consumer spending at cereal partners worldwide ( cpw ) and unfavorable foreign currency exchange from h e4agen- dazs japan , inc .", "( hdj ) .", "the change in net sales for each joint venture is set forth in the following table : joint venture change in net sales as reported constant currency basis fiscal 2014 fiscal 2014 vs .", "2013 vs .", "2013 cpw ( 1 ) % ( % ) flat ." ]

[ "in fiscal 2014 , cpw net sales declined by 1 percent- age point due to unfavorable foreign currency exchange .", "contribution from volume growth was flat compared to fiscal 2013 .", "in fiscal 2014 , net sales for hdj decreased 8 percentage points from fiscal 2013 as 11 percentage points of contributions from volume growth was offset by 17 percentage points of net sales decline from unfa- vorable foreign currency exchange and 2 percentage points of net sales decline attributable to unfavorable net price realization and mix .", "average diluted shares outstanding decreased by 20 million in fiscal 2014 from fiscal 2013 due primar- ily to the repurchase of 36 million shares , partially offset by the issuance of 7 million shares related to stock compensation plans .", "fiscal 2014 consolidated balance sheet analysis cash and cash equivalents increased $ 126 million from fiscal 2013 .", "receivables increased $ 37 million from fiscal 2013 pri- marily driven by timing of sales .", "inventories increased $ 14 million from fiscal 2013 .", "prepaid expenses and other current assets decreased $ 29 million from fiscal 2013 , mainly due to a decrease in other receivables related to the liquidation of a corporate investment .", "land , buildings , and equipment increased $ 64 million from fiscal 2013 , as $ 664 million of capital expenditures ." ]

[ [ "CPW", "As Reported Fiscal 2014 vs. 2013 (1)%", "Constant Currency Basis Fiscal 2014 vs. 2013 Flat", "" ], [ "HDJ", "(8)", "9", "%" ], [ "Joint Ventures", "(2)%", "2", "%" ] ]

[ [ "cpw", "as reported fiscal 2014 vs . 2013 ( 1 ) % ( % )", "constant currency basis fiscal 2014 vs . 2013 flat", "" ], [ "hdj", "-8 ( 8 )", "9", "% ( % )" ], [ "joint ventures", "( 2 ) % ( % )", "2", "% ( % )" ] ]

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[ "the weighted average fair value of options granted during 2010 , 2009 and 2008 was estimated to be $ 7.84 , $ 7.18 and $ 3.84 , respectively , using the black-scholes option pricing model with the assumptions below: ." ]

[ "at december 31 , 2010 and 2009 , the total unrecognized compensation cost related to non-vested stock awards is $ 129.3 million and $ 93.5 million , respectively , which is expected to be recognized in pre-tax income over a weighted average period of 1.7 years as of both year ends .", "the company granted a total of 1.5 million restricted stock awards at prices ranging from $ 25.76 to $ 28.15 on various dates in 2010 .", "these awards vest annually over three years .", "the company also granted 0.9 million performance restricted stock units during 2010 .", "these performance restricted stock units have been granted at the maximum achievable level and the number of shares that can vest is based on specific revenue and ebitda goals for periods from 2010 through 2012 .", "during 2009 , we granted 0.5 million shares of restricted stock at a price of $ 22.55 that vest annually over 3 years .", "on october 1 , 2009 , the company granted 0.4 million restricted stock units at a price of $ 24.85 per share that vested over six months .", "on march 20 , 2008 , we granted 0.4 million shares of restricted stock at a price of $ 38.75 that were to vest quarterly over 2 years .", "on july 2 , 2008 , 0.2 million of these shares were canceled and assumed by lps .", "the remaining unvested restricted shares were converted by the conversion factor of 1.7952 .", "these awards vested as of october 1 , 2009 , under the change in control provisions due to the metavante acquisition .", "on october 27 , 2008 , we granted 0.8 million shares of restricted stock at a price of $ 14.35 that vest annually over 3 years .", "as of december 31 , 2010 and 2009 , we have approximately 2.2 million and 1.4 million unvested restricted shares remaining .", "as of december 31 , 2010 we also have 0.6 million of restricted stock units that have not vested .", "share repurchase plans on october 25 , 2006 , our board of directors approved a plan authorizing repurchases of up to $ 200.0 million worth of our common stock ( the 201cold plan 201d ) .", "on april 17 , 2008 , our board of directors approved a plan authorizing repurchases of up to an additional $ 250.0 million worth of our common stock ( the 201cnew plan 201d ) .", "under the new plan we repurchased 5.8 million shares of our stock for $ 226.2 million , at an average price of $ 38.97 for the year ended december 31 , 2008 .", "during the year ended december 31 , 2008 , we also repurchased an additional 0.2 million shares of our stock for $ 10.0 million at an average price of $ 40.56 under the old plan .", "during 2007 , the company repurchased 1.6 million shares at an average price of $ 49.15 under the old plan .", "on february 4 , 2010 our board of directors approved a plan authorizing repurchases of up to 15.0 million shares of our common stock in the open market , at prevailing market prices or in privately negotiated transactions , through january 31 , 2013 .", "we repurchased 1.4 million shares of our common stock for $ 32.2 million , at an average price of $ 22.97 through march 31 , 2010 .", "no additional shares were repurchased under this plan during the year ended december 31 , 2010 .", "approximately 13.6 million shares of our common stock remain available to repurchase under this plan as of december 31 , 2010 .", "on may 25 , 2010 , our board of directors authorized a leveraged recapitalization plan to repurchase up to $ 2.5 billion of our common stock at a price range of $ 29.00 2014 $ 31.00 per share of common stock through a modified 201cdutch auction 201d tender offer ( the 201ctender offer 201d ) .", "the tender offer commenced on july 6 , 2010 and expired on august 3 , 2010 .", "the tender offer was oversubscribed at $ 29.00 , resulting in the purchase of 86.2 million shares , including 6.4 million shares underlying previously unexercised stock options .", "the repurchased shares were added to treasury stock .", "fidelity national information services , inc .", "and subsidiaries notes to consolidated financial statements 2014 ( continued ) %%transmsg*** transmitting job : g26369 pcn : 087000000 ***%%pcmsg|87 |00008|yes|no|03/28/2011 17:32|0|0|page is valid , no graphics -- color : n| ." ]

[ [ "", "2010", "2009", "2008" ], [ "Risk free interest rate", "1.1%", "2.3%", "2.8%" ], [ "Volatility", "35.6%", "35.0%", "26.0%" ], [ "Dividend yield", "0.7%", "1.0%", "1.0%" ], [ "Weighted average expected life (years)", "4.4", "5.0", "5.3" ] ]

[ [ "", "2010", "2009", "2008" ], [ "risk free interest rate", "1.1% ( 1.1 % )", "2.3% ( 2.3 % )", "2.8% ( 2.8 % )" ], [ "volatility", "35.6% ( 35.6 % )", "35.0% ( 35.0 % )", "26.0% ( 26.0 % )" ], [ "dividend yield", "0.7% ( 0.7 % )", "1.0% ( 1.0 % )", "1.0% ( 1.0 % )" ], [ "weighted average expected life ( years )", "4.4", "5.0", "5.3" ] ]

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[ "35% ( 35 % ) due primarily to certain undistributed foreign earnings for which no u.s .", "taxes are provided because such earnings are intended to be indefinitely reinvested outside the u.s .", "as of september 24 , 2011 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 3.2 billion , and deferred tax liabilities of $ 9.2 billion .", "management believes it is more likely than not that forecasted income , including income that may be generated as a result of certain tax planning strategies , together with future reversals of existing taxable temporary differences , will be sufficient to fully recover the deferred tax assets .", "the company will continue to evaluate the realizability of deferred tax assets quarterly by assessing the need for and amount of a valuation allowance .", "the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments .", "the company has contested certain of these adjustments through the irs appeals office .", "the irs is currently examining the years 2007 through 2009 .", "all irs audit issues for years prior to 2004 have been resolved .", "in addition , the company is subject to audits by state , local , and foreign tax authorities .", "management believes that adequate provisions have been made for any adjustments that may result from tax examinations .", "however , the outcome of tax audits cannot be predicted with certainty .", "if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income taxes in the period such resolution occurs .", "liquidity and capital resources the following table presents selected financial information and statistics as of and for the three years ended september 24 , 2011 ( in millions ) : ." ]

[ "cash , cash equivalents and marketable securities increased $ 30.6 billion or 60% ( 60 % ) during 2011 .", "the principal components of this net increase was the cash generated by operating activities of $ 37.5 billion , which was partially offset by payments for acquisition of property , plant and equipment of $ 4.3 billion , payments for acquisition of intangible assets of $ 3.2 billion and payments made in connection with business acquisitions , net of cash acquired , of $ 244 million .", "the company believes its existing balances of cash , cash equivalents and marketable securities will be sufficient to satisfy its working capital needs , capital asset purchases , outstanding commitments and other liquidity requirements associated with its existing operations over the next 12 months .", "the company 2019s marketable securities investment portfolio is invested primarily in highly rated securities and its policy generally limits the amount of credit exposure to any one issuer .", "the company 2019s investment policy requires investments to generally be investment grade with the objective of minimizing the potential risk of principal loss .", "as of september 24 , 2011 and september 25 , 2010 , $ 54.3 billion and $ 30.8 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s .", "dollar-denominated holdings .", "amounts held by foreign subsidiaries are generally subject to u.s .", "income taxation on repatriation to the u.s .", "capital assets the company 2019s capital expenditures were $ 4.6 billion during 2011 , consisting of approximately $ 614 million for retail store facilities and $ 4.0 billion for other capital expenditures , including product tooling and manufacturing ." ]

[ [ "", "2011", "2010", "2009" ], [ "Cash, cash equivalents and marketable securities", "$81,570", "$51,011", "$33,992" ], [ "Accounts receivable, net", "$5,369", "$5,510", "$3,361" ], [ "Inventories", "$776", "$1,051", "$455" ], [ "Working capital", "$17,018", "$20,956", "$20,049" ], [ "Annual operating cash flow", "$37,529", "$18,595", "$10,159" ] ]

[ [ "", "2011", "2010", "2009" ], [ "cash cash equivalents and marketable securities", "$ 81570", "$ 51011", "$ 33992" ], [ "accounts receivable net", "$ 5369", "$ 5510", "$ 3361" ], [ "inventories", "$ 776", "$ 1051", "$ 455" ], [ "working capital", "$ 17018", "$ 20956", "$ 20049" ], [ "annual operating cash flow", "$ 37529", "$ 18595", "$ 10159" ] ]

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[ "part ii item 5 .", "market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our class a common stock on the new york stock exchange ( nyse ) for the years 2004 and 2003. ." ]

[ "on march 18 , 2005 , the closing price of our class a common stock was $ 18.79 per share as reported on the as of march 18 , 2005 , we had 230604932 outstanding shares of class a common stock and 743 registered holders .", "in february 2004 , all outstanding shares of our class b common stock were converted into shares of our class a common stock on a one-for-one basis pursuant to the occurrence of the 201cdodge conversion event 201d as defined in our charter .", "our charter prohibits the future issuance of shares of class b common stock .", "also in february 2004 , all outstanding shares of class c common stock were converted into shares of class a common stock on a one-for-one basis .", "our charter permits the issuance of shares of class c common stock in the future .", "the information under 201csecurities authorized for issuance under equity compensation plans 201d from the definitive proxy statement is hereby incorporated by reference into item 12 of this annual report .", "dividends we have never paid a dividend on any class of common stock .", "we anticipate that we may retain future earnings , if any , to fund the development and growth of our business .", "the indentures governing our 93 20448% ( 20448 % ) senior notes due 2009 , our 7.50% ( 7.50 % ) senior notes due 2012 , and our 7.125% ( 7.125 % ) senior notes due 2012 prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants .", "our borrower subsidiaries are generally prohibited under the terms of the credit facility , subject to certain exceptions , from making to us any direct or indirect distribution , dividend or other payment on account of their limited liability company interests , partnership interests , capital stock or other equity interests , except that , if no default exists or would be created thereby under the credit facility , our borrower subsidiaries may pay cash dividends or make other distributions to us in accordance with the credit facility within certain specified amounts and , in addition , may pay cash dividends or make other distributions to us in respect of our outstanding indebtedness and permitted future indebtedness .", "the indentures governing the 12.25% ( 12.25 % ) senior subordinated discount notes due 2008 and the 7.25% ( 7.25 % ) senior subordinated notes due 2011 of american towers , inc .", "( ati ) , our principal operating subsidiary , prohibit ati and certain of our other subsidiaries that have guaranteed those notes ( sister guarantors ) from paying dividends and making other payments or distributions to us unless certain ." ]

[ [ "2004", "High", "Low" ], [ "Quarter ended March 31", "$13.12", "$9.89" ], [ "Quarter ended June 30", "16.00", "11.13" ], [ "Quarter ended September 30", "15.85", "13.10" ], [ "Quarter ended December 31", "18.75", "15.19" ], [ "2003", "High", "Low" ], [ "Quarter ended March 31", "$5.94", "$3.55" ], [ "Quarter ended June 30", "9.90", "5.41" ], [ "Quarter ended September 30", "11.74", "8.73" ], [ "Quarter ended December 31", "12.00", "9.59" ] ]

[ [ "2004", "high", "low" ], [ "quarter ended march 31", "$ 13.12", "$ 9.89" ], [ "quarter ended june 30", "16.00", "11.13" ], [ "quarter ended september 30", "15.85", "13.10" ], [ "quarter ended december 31", "18.75", "15.19" ], [ "2003", "high", "low" ], [ "quarter ended march 31", "$ 5.94", "$ 3.55" ], [ "quarter ended june 30", "9.90", "5.41" ], [ "quarter ended september 30", "11.74", "8.73" ], [ "quarter ended december 31", "12.00", "9.59" ] ]

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[ "corporate/other corporate/other includes global staff functions ( includes finance , risk , human resources , legal and compliance ) and other corporate expense , global operations and technology ( o&t ) , residual corporate treasury and corporate items .", "at december 31 , 2009 , this segment had approximately $ 230 billion of assets , consisting primarily of the company 2019s liquidity portfolio , including $ 110 billion of cash and cash equivalents. ." ]

[ "2009 vs .", "2008 revenues , net of interest expense declined , primarily due to the pretax loss on debt extinguishment related to the repayment of the $ 20 billion of tarp trust preferred securities and the pretax loss in connection with the exit from the loss-sharing agreement with the u.s .", "government .", "revenues also declined , due to the absence of the 2008 sale of citigroup global services limited recorded in o&t .", "this was partially offset by a pretax gain related to the exchange offers , revenues and higher intersegment eliminations .", "operating expenses increased , primarily due to intersegment eliminations and increases in compensation , partially offset by lower repositioning reserves .", "2008 vs .", "2007 revenues , net of interest expense increased primarily due to the gain in 2007 on the sale of certain corporate-owned assets and higher intersegment eliminations , partially offset by improved treasury hedging activities .", "operating expenses declined , primarily due to lower restructuring charges in 2008 as well as reductions in incentive compensation and benefits expense. ." ]

[ [ "In millions of dollars", "2009", "2008", "2007" ], [ "Net interest revenue", "$(1,663)", "$(2,680)", "$(2,008)" ], [ "Non-interest revenue", "(8,893)", "422", "(302)" ], [ "Total revenues, net of interest expense", "$(10,556)", "$(2,258)", "$(2,310)" ], [ "Total operating expenses", "$1,420", "$510", "$1,813" ], [ "Provisions for loan losses and for benefits and claims", "(1)", "1", "(3)" ], [ "(Loss) from continuing operations before taxes", "$(11,975)", "$(2,769)", "$(4,120)" ], [ "Income taxes (benefits)", "(4,369)", "(587)", "(1,446)" ], [ "(Loss) from continuing operations", "$(7,606)", "$(2,182)", "$(2,674)" ], [ "Income (loss) from discontinued operations, net of taxes", "(445)", "4,002", "708" ], [ "Net income (loss) before attribution of noncontrolling interests", "$(8,051)", "$1,820", "$(1,966)" ], [ "Net income attributable to noncontrolling interests", "—", "—", "2" ], [ "Net income (loss)", "$(8,051)", "$1,820", "$(1,968)" ] ]

[ [ "in millions of dollars", "2009", "2008", "2007" ], [ "net interest revenue", "$ -1663 ( 1663 )", "$ -2680 ( 2680 )", "$ -2008 ( 2008 )" ], [ "non-interest revenue", "-8893 ( 8893 )", "422", "-302 ( 302 )" ], [ "total revenues net of interest expense", "$ -10556 ( 10556 )", "$ -2258 ( 2258 )", "$ -2310 ( 2310 )" ], [ "total operating expenses", "$ 1420", "$ 510", "$ 1813" ], [ "provisions for loan losses and for benefits and claims", "-1 ( 1 )", "1", "-3 ( 3 )" ], [ "( loss ) from continuing operations before taxes", "$ -11975 ( 11975 )", "$ -2769 ( 2769 )", "$ -4120 ( 4120 )" ], [ "income taxes ( benefits )", "-4369 ( 4369 )", "-587 ( 587 )", "-1446 ( 1446 )" ], [ "( loss ) from continuing operations", "$ -7606 ( 7606 )", "$ -2182 ( 2182 )", "$ -2674 ( 2674 )" ], [ "income ( loss ) from discontinued operations net of taxes", "-445 ( 445 )", "4002", "708" ], [ "net income ( loss ) before attribution of noncontrolling interests", "$ -8051 ( 8051 )", "$ 1820", "$ -1966 ( 1966 )" ], [ "net income attributable to noncontrolling interests", "2014", "2014", "2" ], [ "net income ( loss )", "$ -8051 ( 8051 )", "$ 1820", "$ -1968 ( 1968 )" ] ]

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[ "risks related to our common stock our stock price is extremely volatile .", "the trading price of our common stock has been extremely volatile and may continue to be volatile in the future .", "many factors could have an impact on our stock price , including fluctuations in our or our competitors 2019 operating results , clinical trial results or adverse events associated with our products , product development by us or our competitors , changes in laws , including healthcare , tax or intellectual property laws , intellectual property developments , changes in reimbursement or drug pricing , the existence or outcome of litigation or government proceedings , including the sec/doj investigation , failure to resolve , delays in resolving or other developments with respect to the issues raised in the warning letter , acquisitions or other strategic transactions , and the perceptions of our investors that we are not performing or meeting expectations .", "the trading price of the common stock of many biopharmaceutical companies , including ours , has experienced extreme price and volume fluctuations , which have at times been unrelated to the operating performance of the companies whose stocks were affected .", "anti-takeover provisions in our charter and bylaws and under delaware law could make a third-party acquisition of us difficult and may frustrate any attempt to remove or replace our current management .", "our corporate charter and by-law provisions may discourage certain types of transactions involving an actual or potential change of control that might be beneficial to us or our stockholders .", "our bylaws provide that special meetings of our stockholders may be called only by the chairman of the board , the president , the secretary , or a majority of the board of directors , or upon the written request of stockholders who together own of record 25% ( 25 % ) of the outstanding stock of all classes entitled to vote at such meeting .", "our bylaws also specify that the authorized number of directors may be changed only by resolution of the board of directors .", "our charter does not include a provision for cumulative voting for directors , which may have enabled a minority stockholder holding a sufficient percentage of a class of shares to elect one or more directors .", "under our charter , our board of directors has the authority , without further action by stockholders , to designate up to 5 shares of preferred stock in one or more series .", "the rights of the holders of common stock will be subject to , and may be adversely affected by , the rights of the holders of any class or series of preferred stock that may be issued in the future .", "because we are a delaware corporation , the anti-takeover provisions of delaware law could make it more difficult for a third party to acquire control of us , even if the change in control would be beneficial to stockholders .", "we are subject to the provisions of section 203 of the delaware general laws , which prohibits a person who owns in excess of 15% ( 15 % ) of our outstanding voting stock from merging or combining with us for a period of three years after the date of the transaction in which the person acquired in excess of 15% ( 15 % ) of our outstanding voting stock , unless the merger or combination is approved in a prescribed manner .", "item 1b .", "unresolved staff comments .", "item 2 .", "properties .", "we conduct our primary operations at the owned and leased facilities described below .", "location operations conducted approximate square feet expiration new haven , connecticut corporate headquarters and executive , sales , research and development offices 514000 2030 dublin , ireland global supply chain , distribution , and administration offices 160000 owned ." ]

[ "we believe that our administrative office space is adequate to meet our needs for the foreseeable future .", "we also believe that our research and development facilities and our manufacturing facilities , together with third party manufacturing facilities , will be adequate for our on-going activities .", "in addition to the locations above , we also lease space in other u.s .", "locations and in foreign countries to support our operations as a global organization. ." ]

[ [ "Location", "Operations Conducted", "ApproximateSquare Feet", "LeaseExpirationDates" ], [ "New Haven, Connecticut", "Corporate headquarters and executive, sales, research and development offices", "514,000", "2030" ], [ "Dublin, Ireland", "Global supply chain, distribution, and administration offices", "160,000", "Owned" ], [ "Athlone, Ireland", "Commercial, research and development manufacturing", "80,000", "Owned" ], [ "Lexington, Massachusetts", "Research and development offices", "81,000", "2019" ], [ "Bogart, Georgia", "Commercial, research and development manufacturing", "70,000", "Owned" ], [ "Smithfield, Rhode Island", "Commercial, research and development manufacturing", "67,000", "Owned" ], [ "Zurich, Switzerland", "Regional executive and sales offices", "69,000", "2025" ] ]

[ [ "location", "operations conducted", "approximatesquare feet", "leaseexpirationdates" ], [ "new haven connecticut", "corporate headquarters and executive sales research and development offices", "514000", "2030" ], [ "dublin ireland", "global supply chain distribution and administration offices", "160000", "owned" ], [ "athlone ireland", "commercial research and development manufacturing", "80000", "owned" ], [ "lexington massachusetts", "research and development offices", "81000", "2019" ], [ "bogart georgia", "commercial research and development manufacturing", "70000", "owned" ], [ "smithfield rhode island", "commercial research and development manufacturing", "67000", "owned" ], [ "zurich switzerland", "regional executive and sales offices", "69000", "2025" ] ]

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[ "item 7 .", "management 2019s discussion and analysis of financial condition and results of operations executive summary international paper 2019s operating results in 2006 bene- fited from strong gains in pricing and sales volumes and lower operating costs .", "our average paper and packaging prices in 2006 increased faster than our costs for the first time in four years .", "the improve- ment in sales volumes reflects increased uncoated papers , corrugated box , coated paperboard and european papers shipments , as well as improved revenues from our xpedx distribution business .", "our manufacturing operations also made solid cost reduction improvements .", "lower interest expense , reflecting debt repayments in 2005 and 2006 , was also a positive factor .", "together , these improvements more than offset the effects of continued high raw material and distribution costs , lower real estate sales , higher net corporate expenses and lower con- tributions from businesses and forestlands divested during 2006 .", "looking forward to 2007 , we expect seasonally higher sales volumes in the first quarter .", "average paper price realizations should continue to improve as we implement previously announced price increases in europe and brazil .", "input costs for energy , fiber and chemicals are expected to be mixed , although slightly higher in the first quarter .", "operating results will benefit from the recently completed international paper/sun paperboard joint ventures in china and the addition of the luiz anto- nio paper mill to our operations in brazil .", "however , primarily as a result of lower real estate sales in the first quarter , we anticipate earnings from continuing operations will be somewhat lower than in the 2006 fourth quarter .", "significant steps were also taken in 2006 in the execution of the company 2019s transformation plan .", "we completed the sales of our u.s .", "and brazilian coated papers businesses and 5.6 million acres of u.s .", "forestlands , and announced definitive sale agreements for our kraft papers , beverage pack- aging and arizona chemical businesses and a majority of our wood products business , all expected to close during 2007 .", "through december 31 , 2006 , we have received approximately $ 9.7 billion of the estimated proceeds from divest- itures announced under this plan of approximately $ 11.3 billion , with the balance to be received as the remaining divestitures are completed in the first half of 2007 .", "we have strengthened our balance sheet by reducing debt by $ 6.2 billion , and returned value to our shareholders by repurchasing 39.7 million shares of our common stock for approximately $ 1.4 billion .", "we made a $ 1.0 billion voluntary contribution to our u.s .", "qualified pension fund .", "we have identified selective reinvestment opportunities totaling approx- imately $ 2.0 billion , including opportunities in china , brazil and russia .", "finally , we remain focused on our three-year $ 1.2 billion target for non-price profit- ability improvements , with $ 330 million realized during 2006 .", "while more remains to be done in 2007 , we have made substantial progress toward achiev- ing the objectives announced at the outset of the plan in july 2005 .", "results of operations industry segment operating profits are used by inter- national paper 2019s management to measure the earn- ings performance of its businesses .", "management believes that this measure allows a better under- standing of trends in costs , operating efficiencies , prices and volumes .", "industry segment operating profits are defined as earnings before taxes and minority interest , interest expense , corporate items and corporate special items .", "industry segment oper- ating profits are defined by the securities and exchange commission as a non-gaap financial measure , and are not gaap alternatives to net income or any other operating measure prescribed by accounting principles generally accepted in the united states .", "international paper operates in six segments : print- ing papers , industrial packaging , consumer pack- aging , distribution , forest products and specialty businesses and other .", "the following table shows the components of net earnings ( loss ) for each of the last three years : in millions 2006 2005 2004 ." ]

[ "* corporate special items include gains on transformation plan forestland sales , goodwill impairment charges , restructuring and other charges , net losses on sales and impairments of businesses , insurance recoveries and reversals of reserves no longer required. ." ]

[ [ "<i>In millions</i>", "2006", "2005", "2004" ], [ "Industry segment operating profits", "$2,074", "$1,622", "$1,703" ], [ "Corporate items, net", "(746)", "(607)", "(477)" ], [ "Corporate special items*", "2,373", "(134)", "(141)" ], [ "Interest expense, net", "(521)", "(595)", "(712)" ], [ "Minority interest", "(9)", "(9)", "(21)" ], [ "Income tax (provision) benefit", "(1,889)", "407", "(114)" ], [ "Discontinued operations", "(232)", "416", "(273)" ], [ "Net earnings (loss)", "$1,050", "$1,100", "$(35)" ] ]

[ [ "in millions", "2006", "2005", "2004" ], [ "industry segment operating profits", "$ 2074", "$ 1622", "$ 1703" ], [ "corporate items net", "-746 ( 746 )", "-607 ( 607 )", "-477 ( 477 )" ], [ "corporate special items*", "2373", "-134 ( 134 )", "-141 ( 141 )" ], [ "interest expense net", "-521 ( 521 )", "-595 ( 595 )", "-712 ( 712 )" ], [ "minority interest", "-9 ( 9 )", "-9 ( 9 )", "-21 ( 21 )" ], [ "income tax ( provision ) benefit", "-1889 ( 1889 )", "407", "-114 ( 114 )" ], [ "discontinued operations", "-232 ( 232 )", "416", "-273 ( 273 )" ], [ "net earnings ( loss )", "$ 1050", "$ 1100", "$ -35 ( 35 )" ] ]

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[ "the goldman sachs group , inc .", "and subsidiaries management 2019s discussion and analysis 2018 versus 2017 .", "provision for credit losses in the consolidated statements of earnings was $ 674 million for 2018 , compared with $ 657 million for 2017 , as the higher provision for credit losses primarily related to consumer loan growth in 2018 was partially offset by an impairment of approximately $ 130 million on a secured loan in 2017 .", "2017 versus 2016 .", "provision for credit losses in the consolidated statements of earnings was $ 657 million for 2017 , compared with $ 182 million for 2016 , reflecting an increase in impairments , which included an impairment of approximately $ 130 million on a secured loan in 2017 , and higher provision for credit losses primarily related to consumer loan growth .", "operating expenses our operating expenses are primarily influenced by compensation , headcount and levels of business activity .", "compensation and benefits includes salaries , discretionary compensation , amortization of equity awards and other items such as benefits .", "discretionary compensation is significantly impacted by , among other factors , the level of net revenues , overall financial performance , prevailing labor markets , business mix , the structure of our share-based compensation programs and the external environment .", "in addition , see 201cuse of estimates 201d for further information about expenses that may arise from litigation and regulatory proceedings .", "the table below presents operating expenses by line item and headcount. ." ]

[ "in the table above , the following reclassifications have been made to previously reported amounts to conform to the current presentation : 2030 regulatory-related fees that are paid to exchanges are now reported in brokerage , clearing , exchange and distribution fees .", "previously such amounts were reported in other expenses .", "2030 headcount consists of our employees , and excludes consultants and temporary staff previously reported as part of total staff .", "as a result , expenses related to these consultants and temporary staff are now reported in professional fees .", "previously such amounts were reported in compensation and benefits expenses .", "2018 versus 2017 .", "operating expenses in the consolidated statements of earnings were $ 23.46 billion for 2018 , 12% ( 12 % ) higher than 2017 .", "our efficiency ratio ( total operating expenses divided by total net revenues ) for 2018 was 64.1% ( 64.1 % ) , compared with 64.0% ( 64.0 % ) for 2017 .", "the increase in operating expenses compared with 2017 was primarily due to higher compensation and benefits expenses , reflecting improved operating performance , and significantly higher net provisions for litigation and regulatory proceedings .", "brokerage , clearing , exchange and distribution fees were also higher , reflecting an increase in activity levels , and technology expenses increased , reflecting higher expenses related to computing services .", "in addition , expenses related to consolidated investments and our digital lending and deposit platform increased , with the increases primarily in depreciation and amortization expenses , market development expenses and other expenses .", "the increase compared with 2017 also included $ 297 million related to the recently adopted revenue recognition standard .", "see note 3 to the consolidated financial statements for further information about asu no .", "2014-09 , 201crevenue from contracts with customers ( topic 606 ) . 201d net provisions for litigation and regulatory proceedings for 2018 were $ 844 million compared with $ 188 million for 2017 .", "2018 included a $ 132 million charitable contribution to goldman sachs gives , our donor-advised fund .", "compensation was reduced to fund this charitable contribution to goldman sachs gives .", "we ask our participating managing directors to make recommendations regarding potential charitable recipients for this contribution .", "as of december 2018 , headcount increased 9% ( 9 % ) compared with december 2017 , reflecting an increase in technology professionals and investments in new business initiatives .", "2017 versus 2016 .", "operating expenses in the consolidated statements of earnings were $ 20.94 billion for 2017 , 3% ( 3 % ) higher than 2016 .", "our efficiency ratio for 2017 was 64.0% ( 64.0 % ) compared with 65.9% ( 65.9 % ) for 2016 .", "the increase in operating expenses compared with 2016 was primarily driven by slightly higher compensation and benefits expenses and our investments to fund growth .", "higher expenses related to consolidated investments and our digital lending and deposit platform were primarily included in depreciation and amortization expenses , market development expenses and other expenses .", "in addition , technology expenses increased , reflecting higher expenses related to cloud-based services and software depreciation , and professional fees increased , primarily related to consulting costs .", "these increases were partially offset by lower net provisions for litigation and regulatory proceedings , and lower occupancy expenses ( primarily related to exit costs in 2016 ) .", "54 goldman sachs 2018 form 10-k ." ]

[ [ "", "Year Ended December" ], [ "<i>$ in millions</i>", "2018", "2017", "2016" ], [ "Compensation and benefits", "$12,328", "$11,653", "$11,448" ], [ "Brokerage, clearing, exchange and distribution fees", "3,200", "2,876", "2,823" ], [ "Market development", "740", "588", "457" ], [ "Communications and technology", "1,023", "897", "809" ], [ "Depreciation and amortization", "1,328", "1,152", "998" ], [ "Occupancy", "809", "733", "788" ], [ "Professional fees", "1,214", "1,165", "1,081" ], [ "Other expenses", "2,819", "1,877", "1,900" ], [ "Total operating expenses", "$23,461", "$20,941", "$20,304" ], [ "Headcount atperiod-end", "36,600", "33,600", "32,400" ] ]

[ [ "$ in millions", "year ended december 2018", "year ended december 2017", "year ended december 2016" ], [ "compensation and benefits", "$ 12328", "$ 11653", "$ 11448" ], [ "brokerage clearing exchange and distribution fees", "3200", "2876", "2823" ], [ "market development", "740", "588", "457" ], [ "communications and technology", "1023", "897", "809" ], [ "depreciation and amortization", "1328", "1152", "998" ], [ "occupancy", "809", "733", "788" ], [ "professional fees", "1214", "1165", "1081" ], [ "other expenses", "2819", "1877", "1900" ], [ "total operating expenses", "$ 23461", "$ 20941", "$ 20304" ], [ "headcount atperiod-end", "36600", "33600", "32400" ] ]

[ { "arg1": "23461", "arg2": "20941", "op": "minus1-1", "res": "2520" }, { "arg1": "#0", "arg2": "20941", "op": "divide1-2", "res": "12.0%" } ]

[ "construction of cvn-79 john f .", "kennedy , construction of the u.s .", "coast guard 2019s fifth national security cutter ( unnamed ) , advance planning efforts for the cvn-72 uss abraham lincoln rcoh , and continued execution of the cvn-71 uss theodore roosevelt rcoh .", "2010 2014the value of new contract awards during the year ended december 31 , 2010 , was approximately $ 3.6 billion .", "significant new awards during this period included $ 480 million for the construction of the u.s .", "coast guard 2019s fourth national security cutter hamilton , $ 480 million for design and long-lead material procurement activities for the cvn-79 john f .", "kennedy aircraft carrier , $ 377 million for cvn-78 gerald r .", "ford , $ 224 million for lha-7 ( unnamed ) , $ 184 million for lpd-26 john p .", "murtha , $ 114 million for ddg-114 ralph johnson and $ 62 million for long-lead material procurement activities for lpd-27 ( unnamed ) .", "liquidity and capital resources we endeavor to ensure the most efficient conversion of operating results into cash for deployment in operating our businesses and maximizing stockholder value .", "we use various financial measures to assist in capital deployment decision making , including net cash provided by operating activities and free cash flow .", "we believe these measures are useful to investors in assessing our financial performance .", "the table below summarizes key components of cash flow provided by ( used in ) operating activities: ." ]

[ "cash flows we discuss below our major operating , investing and financing activities for each of the three years in the period ended december 31 , 2011 , as classified on our consolidated statements of cash flows .", "operating activities 2011 2014cash provided by operating activities was $ 528 million in 2011 compared with $ 359 million in 2010 .", "the increase of $ 169 million was due principally to increased earnings net of impairment charges and lower pension contributions , offset by an increase in trade working capital .", "net cash paid by northrop grumman on our behalf for u.s .", "federal income tax obligations was $ 53 million .", "we expect cash generated from operations for 2012 to be sufficient to service debt , meet contract obligations , and finance capital expenditures .", "although 2012 cash from operations is expected to be sufficient to service these obligations , we may from time to time borrow funds under our credit facility to accommodate timing differences in cash flows .", "2010 2014net cash provided by operating activities was $ 359 million in 2010 compared with cash used of $ 88 million in 2009 .", "the change of $ 447 million was due principally to a decrease in discretionary pension contributions of $ 97 million , a decrease in trade working capital of $ 299 million , and a decrease in deferred income taxes of $ 79 million .", "in 2009 , trade working capital balances included the unfavorable impact of delayed customer billings associated with the negative performance adjustments on the lpd-22 through lpd-25 contract due to projected cost increases at completion .", "see note 7 : contract charges in item 8 .", "the change in deferred taxes was due principally to the timing of contract related deductions .", "u.s .", "federal income tax payments made by northrop grumman on our behalf were $ 89 million in 2010. ." ]

[ [ "", "Year Ended December 31" ], [ "($ in millions)", "2011", "2010", "2009" ], [ "Net earnings (loss)", "$(94)", "$135", "$124" ], [ "Goodwill impairment", "290", "0", "0" ], [ "Deferred income taxes", "27", "(19)", "(98)" ], [ "Depreciation and amortization", "190", "183", "186" ], [ "Stock-based compensation", "42", "0", "0" ], [ "Retiree benefit funding less than (in excess of) expense", "122", "33", "(28)" ], [ "Trade working capital decrease (increase)", "(49)", "27", "(272)" ], [ "Net cash provided by (used in) operating activities", "$528", "$359", "$(88)" ] ]

[ [ "( $ in millions )", "year ended december 31 2011", "year ended december 31 2010", "year ended december 31 2009" ], [ "net earnings ( loss )", "$ -94 ( 94 )", "$ 135", "$ 124" ], [ "goodwill impairment", "290", "0", "0" ], [ "deferred income taxes", "27", "-19 ( 19 )", "-98 ( 98 )" ], [ "depreciation and amortization", "190", "183", "186" ], [ "stock-based compensation", "42", "0", "0" ], [ "retiree benefit funding less than ( in excess of ) expense", "122", "33", "-28 ( 28 )" ], [ "trade working capital decrease ( increase )", "-49 ( 49 )", "27", "-272 ( 272 )" ], [ "net cash provided by ( used in ) operating activities", "$ 528", "$ 359", "$ -88 ( 88 )" ] ]

[ { "arg1": "135", "arg2": "124", "op": "minus2-1", "res": "11" }, { "arg1": "#0", "arg2": "124", "op": "divide2-2", "res": "8.9%" } ]

[ "during fiscal 2013 , we entered into an asr with a financial institution to repurchase an aggregate of $ 125 million of our common stock .", "in exchange for an up-front payment of $ 125 million , the financial institution committed to deliver a number of shares during the asr 2019s purchase period , which ended on march 30 , 2013 .", "the total number of shares delivered under this asr was 2.5 million at an average price of $ 49.13 per share .", "during fiscal 2013 , in addition to shares repurchased under the asr , we repurchased and retired 1.1 million shares of our common stock at a cost of $ 50.3 million , or an average of $ 44.55 per share , including commissions .", "note 10 2014share-based awards and options non-qualified stock options and restricted stock have been granted to officers , key employees and directors under the global payments inc .", "2000 long-term incentive plan , as amended and restated ( the 201c2000 plan 201d ) , the global payments inc .", "amended and restated 2005 incentive plan ( the 201c2005 plan 201d ) , the amended and restated 2000 non-employee director stock option plan ( the 201cdirector stock option plan 201d ) , and the global payments inc .", "2011 incentive plan ( the 201c2011 plan 201d ) ( collectively , the 201cplans 201d ) .", "there were no further grants made under the 2000 plan after the 2005 plan was effective , and the director stock option plan expired by its terms on february 1 , 2011 .", "there will be no future grants under the 2000 plan , the 2005 plan or the director stock option the 2011 plan permits grants of equity to employees , officers , directors and consultants .", "a total of 7.0 million shares of our common stock was reserved and made available for issuance pursuant to awards granted under the 2011 plan .", "the following table summarizes share-based compensation expense and the related income tax benefit recognized for stock options , restricted stock , performance units , tsr units , and shares issued under our employee stock purchase plan ( each as described below ) .", "2015 2014 2013 ( in millions ) ." ]

[ "we grant various share-based awards pursuant to the plans under what we refer to as our 201clong-term incentive plan . 201d the awards are held in escrow and released upon the grantee 2019s satisfaction of conditions of the award certificate .", "restricted stock and restricted stock units we grant restricted stock and restricted stock units .", "restricted stock awards vest over a period of time , provided , however , that if the grantee is not employed by us on the vesting date , the shares are forfeited .", "restricted shares cannot be sold or transferred until they have vested .", "restricted stock granted before fiscal 2015 vests in equal installments on each of the first four anniversaries of the grant date .", "restricted stock granted during fiscal 2015 will either vest in equal installments on each of the first three anniversaries of the grant date or cliff vest at the end of a three-year service period .", "the grant date fair value of restricted stock , which is based on the quoted market value of our common stock at the closing of the award date , is recognized as share-based compensation expense on a straight-line basis over the vesting period .", "performance units certain of our executives have been granted up to three types of performance units under our long-term incentive plan .", "performance units are performance-based restricted stock units that , after a performance period , convert into common shares , which may be restricted .", "the number of shares is dependent upon the achievement of certain performance measures during the performance period .", "the target number of performance units and any market-based performance measures ( 201cat threshold , 201d 201ctarget , 201d and 201cmaximum 201d ) are set by the compensation committee of our board of directors .", "performance units are converted only after the compensation committee certifies performance based on pre-established goals .", "80 2013 global payments inc .", "| 2015 form 10-k annual report ." ]

[ [ "", "2015", "2014 (in millions)", "2013" ], [ "Share-based compensation expense", "$21.1", "$29.8", "$18.4" ], [ "Income tax benefit", "$(6.9)", "$(7.1)", "$(5.6)" ] ]

[ [ "", "2015", "2014 ( in millions )", "2013" ], [ "share-based compensation expense", "$ 21.1", "$ 29.8", "$ 18.4" ], [ "income tax benefit", "$ -6.9 ( 6.9 )", "$ -7.1 ( 7.1 )", "$ -5.6 ( 5.6 )" ] ]

[ { "arg1": "6.9", "arg2": "7.1", "op": "add2-1", "res": "14" }, { "arg1": "5.6", "arg2": "#0", "op": "add2-2", "res": "19.6" } ]

[ "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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[ "mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the company does not make any contributions to its postretirement plan other than funding benefits payments .", "the following table summarizes expected net benefit payments from the company 2019s general assets through 2018 : benefit payments expected subsidy receipts benefit payments ." ]

[ "the company provides limited postemployment benefits to eligible former u.s .", "employees , primarily severance under a formal severance plan ( the 201cseverance plan 201d ) .", "the company accounts for severance expense in accordance with sfas no .", "112 , 201cemployers 2019 accounting for postemployment benefits 201d by accruing the expected cost of the severance benefits expected to be provided to former employees after employment over their relevant service periods .", "the company updates the assumptions in determining the severance accrual by evaluating the actual severance activity and long-term trends underlying the assumptions .", "as a result of updating the assumptions , the company recorded severance expense ( benefit ) related to the severance plan of $ 2643 , $ ( 3418 ) and $ 8400 , respectively , during the years 2008 , 2007 and 2006 .", "the company has an accrued liability related to the severance plan and other severance obligations in the amount of $ 63863 and $ 56172 at december 31 , 2008 and 2007 , respectively .", "note 13 .", "debt on april 28 , 2008 , the company extended its committed unsecured revolving credit facility , dated as of april 28 , 2006 ( the 201ccredit facility 201d ) , for an additional year .", "the new expiration date of the credit facility is april 26 , 2011 .", "the available funding under the credit facility will remain at $ 2500000 through april 27 , 2010 and then decrease to $ 2000000 during the final year of the credit facility agreement .", "other terms and conditions in the credit facility remain unchanged .", "the company 2019s option to request that each lender under the credit facility extend its commitment was provided pursuant to the original terms of the credit facility agreement .", "borrowings under the facility are available to provide liquidity in the event of one or more settlement failures by mastercard international customers and , subject to a limit of $ 500000 , for general corporate purposes .", "a facility fee of 8 basis points on the total commitment , or approximately $ 2030 , is paid annually .", "interest on borrowings under the credit facility would be charged at the london interbank offered rate ( libor ) plus an applicable margin of 37 basis points or an alternative base rate , and a utilization fee of 10 basis points would be charged if outstanding borrowings under the facility exceed 50% ( 50 % ) of commitments .", "the facility fee and borrowing cost are contingent upon the company 2019s credit rating .", "the company also agreed to pay upfront fees of $ 1250 and administrative fees of $ 325 for the credit facility which are being amortized straight- line over three years .", "facility and other fees associated with the credit facility or prior facilities totaled $ 2353 , $ 2477 and $ 2717 for each of the years ended december 31 , 2008 , 2007 and 2006 , respectively .", "mastercard was in compliance with the covenants of the credit facility and had no borrowings under the credit facility at december 31 , 2008 or december 31 , 2007 .", "the majority of credit facility lenders are customers or affiliates of customers of mastercard international .", "in june 1998 , mastercard international issued ten-year unsecured , subordinated notes ( the 201cnotes 201d ) paying a fixed interest rate of 6.67% ( 6.67 % ) per annum .", "mastercard repaid the entire principal amount of $ 80000 on june 30 ." ]

[ [ "", "Benefit Payments", "Expected Subsidy Receipts", "Net Benefit Payments" ], [ "2009", "$2,641", "$77", "$2,564" ], [ "2010", "3,139", "91", "3,048" ], [ "2011", "3,561", "115", "3,446" ], [ "2012", "3,994", "140", "3,854" ], [ "2013", "4,357", "169", "4,188" ], [ "2014 – 2018", "25,807", "1,269", "24,538" ] ]

[ [ "", "benefit payments", "expected subsidy receipts", "net benefit payments" ], [ "2009", "$ 2641", "$ 77", "$ 2564" ], [ "2010", "3139", "91", "3048" ], [ "2011", "3561", "115", "3446" ], [ "2012", "3994", "140", "3854" ], [ "2013", "4357", "169", "4188" ], [ "2014 2013 2018", "25807", "1269", "24538" ] ]

[]

[ "entergy arkansas , inc .", "and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 92.9 million primarily due to higher net revenue and lower other operation and maintenance expenses , partially offset by a higher effective income tax rate and higher depreciation and amortization expenses .", "2015 compared to 2014 net income decreased $ 47.1 million primarily due to higher other operation and maintenance expenses , partially offset by higher net revenue .", "net revenue 2016 compared to 2015 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 2016 to 2015 .", "amount ( in millions ) ." ]

[ "the retail electric price variance is primarily due to an increase in base rates , as approved by the apsc .", "the new base rates were effective february 24 , 2016 and began billing with the first billing cycle of april 2016 .", "the increase includes an interim base rate adjustment surcharge , effective with the first billing cycle of april 2016 , to recover the incremental revenue requirement for the period february 24 , 2016 through march 31 , 2016 .", "a significant portion of the increase is related to the purchase of power block 2 of the union power station .", "see note 2 to the financial statements for further discussion of the rate case .", "see note 14 to the financial statements for further discussion of the union power station purchase. ." ]

[ [ "", "Amount (In Millions)" ], [ "2015 net revenue", "$1,362.2" ], [ "Retail electric price", "161.5" ], [ "Other", "(3.2)" ], [ "2016 net revenue", "$1,520.5" ] ]

[ [ "", "amount ( in millions )" ], [ "2015 net revenue", "$ 1362.2" ], [ "retail electric price", "161.5" ], [ "other", "-3.2 ( 3.2 )" ], [ "2016 net revenue", "$ 1520.5" ] ]

[]

[ "consume significant amounts of energy , and we may in the future incur additional or increased capital , operating and other expenditures from changes due to new or increased climate-related and other environmental regulations .", "we could also incur substantial liabilities , including fines or sanctions , enforcement actions , natural resource damages claims , cleanup and closure costs , and third-party claims for property damage and personal injury under environmental and common laws .", "the foreign corrupt practices act of 1977 and local anti-bribery laws , including those in brazil , china , mexico , india and the united kingdom ( where we maintain operations directly or through a joint venture ) , prohibit companies and their intermediaries from making improper payments to government officials for the purpose of influencing official decisions .", "our internal control policies and procedures , or those of our vendors , may not adequately protect us from reckless or criminal acts committed or alleged to have been committed by our employees , agents or vendors .", "any such violations could lead to civil or criminal monetary and non-monetary penalties and/or could damage our reputation .", "we are subject to a number of labor and employment laws and regulations that could significantly increase our operating costs and reduce our operational flexibility .", "additionally , changing privacy laws in the united states ( including the california consumer privacy act , which will become effective in january 2020 ) , europe ( where the general data protection regulation became effective in 2018 ) and elsewhere have created new individual privacy rights , imposed increased obligations on companies handling personal data and increased potential exposure to fines and penalties .", "item 1b .", "unresolved staff comments there are no unresolved sec staff comments .", "item 2 .", "properties we operate locations in north america , including the majority of u.s .", "states , south america , europe , asia and australia .", "we lease our principal offices in atlanta , ga .", "we believe that our existing production capacity is adequate to serve existing demand for our products and consider our plants and equipment to be in good condition .", "our corporate and operating facilities as of september 30 , 2019 are summarized below: ." ]

[ "the tables that follow show our annual production capacity by mill at september 30 , 2019 in thousands of tons , except for the north charleston , sc mill which reflects our capacity after the previously announced machine closure expected to occur in fiscal 2020 .", "our mill system production levels and operating rates may vary from year to year due to changes in market and other factors , including the impact of hurricanes and other weather-related events .", "our simple average mill system operating rates for the last three years averaged 94% ( 94 % ) .", "we own all of our mills. ." ]

[ [ "", "Number of Facilities" ], [ "Segment", "Owned", "Leased", "Total" ], [ "Corrugated Packaging", "112", "61", "173" ], [ "Consumer Packaging", "84", "55", "139" ], [ "Corporate and significant regional offices", "—", "10", "10" ], [ "Total", "196", "126", "322" ] ]

[ [ "segment", "number of facilities owned", "number of facilities leased", "number of facilities total" ], [ "corrugated packaging", "112", "61", "173" ], [ "consumer packaging", "84", "55", "139" ], [ "corporate and significant regional offices", "2014", "10", "10" ], [ "total", "196", "126", "322" ] ]

[]

[ "shareholder return performance presentation the graph presented below compares the cumulative total shareholder return on state street's common stock to the cumulative total return of the s&p 500 index and the s&p financial index over a five-year period .", "the cumulative total shareholder return assumes the investment of $ 100 in state street common stock and in each index on december 31 , 2007 at the closing price on the last trading day of 2007 , and also assumes reinvestment of common stock dividends .", "the s&p financial index is a publicly available measure of 80 of the standard & poor's 500 companies , representing 26 diversified financial services companies , 22 insurance companies , 17 real estate companies and 15 banking companies .", "comparison of five-year cumulative total shareholder return ." ]

[ "." ]

[ [ "", "2007", "2008", "2009", "2010", "2011", "2012" ], [ "State Street Corporation", "$100", "$49", "$55", "$58", "$52", "$61" ], [ "S&P 500 Index", "100", "63", "80", "92", "94", "109" ], [ "S&P Financial Index", "100", "45", "52", "59", "49", "63" ] ]

[ [ "", "2007", "2008", "2009", "2010", "2011", "2012" ], [ "state street corporation", "$ 100", "$ 49", "$ 55", "$ 58", "$ 52", "$ 61" ], [ "s&p 500 index", "100", "63", "80", "92", "94", "109" ], [ "s&p financial index", "100", "45", "52", "59", "49", "63" ] ]

[ { "arg1": "55", "arg2": "49", "op": "minus1-1", "res": "-6" }, { "arg1": "#0", "arg2": "49", "op": "divide1-2", "res": "-11%" } ]

[ "costs .", "our 2012 results were lower than 2011 when we realized $ 53.1 million in premium-services margins and our storage and marketing margins consisted of $ 96.0 million from realized seasonal price differentials and marketing optimization activities , and $ 87.7 million of storage demand costs .", "in addition , we recognized a loss on the change in fair value of our nonqualifiying economic storage hedges of $ 1.0 million in 2012 compared with a gain of $ 8.5 million in 2011 .", "our premium services were impacted negatively by lower natural gas prices and decreased natural gas price volatility .", "the impact of our hedge strategies and the inability to hedge seasonal price differentials at levels that were available to us in the prior year significantly reduced our storage margins .", "we also experienced reduced opportunities to optimize our storage assets , which negatively impacted our marketing margins .", "we realized a loss in our transportation margins of $ 42.4 million in 2012 compared with a loss of $ 18.8 million in 2011 , due primarily to a $ 29.5 million decrease in transportation hedges .", "our transportation business continues to be impacted by narrow price location differentials and the inability to hedge at levels that were available to us in prior years .", "as a result of significant increases in the supply of natural gas , primarily from shale gas production across north america and new pipeline infrastructure projects , location and seasonal price differentials narrowed significantly beginning in 2010 and continuing through 2012 .", "this market change resulted in our transportation contracts being unprofitable impacting our ability to recover our fixed costs .", "operating costs decreased due primarily to lower employee-related expenses , which includes the impact of fewer employees .", "we also recognized an expense of $ 10.3 million related to the impairment of our goodwill in the first quarter 2012 .", "given the significant decline in natural gas prices and its effect on location and seasonal price differentials , we performed an interim impairment assessment in the first quarter 2012 that reduced our goodwill balance to zero .", "2011 vs .", "2010 - the factors discussed in energy services 2019 201cnarrative description of the business 201d included in item i , business , of this annual report have led to a significant decrease in net margin , including : 2022 a decrease of $ 65.3 million in transportation margins , net of hedging , due primarily to narrower location price differentials and lower hedge settlements in 2011 ; 2022 a decrease of $ 34.3 million in storage and marketing margins , net of hedging activities , due primarily to the following : 2013 lower realized seasonal storage price differentials ; offset partially by 2013 favorable marketing activity and unrealized fair value changes on nonqualifying economic storage hedges ; 2022 a decrease of $ 7.3 million in premium-services margins , associated primarily with the reduction in the value of the fees collected for these services as a result of low commodity prices and reduced natural gas price volatility in the first quarter 2011 compared with the first quarter 2010 ; and 2022 a decrease of $ 4.3 million in financial trading margins , as low natural gas prices and reduced natural gas price volatility limited our financial trading opportunities .", "additionally , our 2011 net margin includes $ 91.1 million in adjustments to natural gas inventory reflecting the lower of cost or market value .", "because of the adjustments to our inventory value , we reclassified $ 91.1 million of deferred gains on associated cash flow hedges into earnings .", "operating costs decreased due primarily to a decrease in ad valorem taxes .", "selected operating information - the following table sets forth certain selected operating information for our energy services segment for the periods indicated: ." ]

[ "natural gas volumes marketed and physically settled volumes decreased in 2012 compared with 2011 due primarily to decreased marketing activities , lower transported volumes and reduced transportation capacity .", "the decrease in 2011 compared with 2010 was due primarily to lower volumes transported and reduced transportation capacity .", "transportation capacity in certain markets was not utilized due to the economics of the location price differentials as a result of increased supply of natural gas , primarily from shale production , and increased pipeline capacity as a result of new pipeline construction. ." ]

[ [ "", "Years Ended December 31," ], [ "Operating Information", "2012", "2011", "2010" ], [ "Natural gas marketed(Bcf)", "709", "845", "919" ], [ "Natural gas gross margin($/Mcf)", "$(0.07)", "$0.06", "$0.18" ], [ "Physically settled volumes(Bcf)", "1,433", "1,724", "1,874" ] ]

[ [ "operating information", "years ended december 31 , 2012", "years ended december 31 , 2011", "years ended december 31 , 2010" ], [ "natural gas marketed ( bcf )", "709", "845", "919" ], [ "natural gas gross margin ( $ /mcf )", "$ -0.07 ( 0.07 )", "$ 0.06", "$ 0.18" ], [ "physically settled volumes ( bcf )", "1433", "1724", "1874" ] ]

[]

[ "item 7a .", "quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items .", "from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks .", "derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes .", "interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations .", "the majority of our debt ( approximately 89% ( 89 % ) and 93% ( 93 % ) as of december 31 , 2013 and 2012 , respectively ) bears interest at fixed rates .", "we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows .", "the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below .", "increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates ." ]

[ "we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates .", "we do not have any interest rate swaps outstanding as of december 31 , 2013 .", "we had $ 1642.1 of cash , cash equivalents and marketable securities as of december 31 , 2013 that we generally invest in conservative , short-term bank deposits or securities .", "the interest income generated from these investments is subject to both domestic and foreign interest rate movements .", "during 2013 and 2012 , we had interest income of $ 24.7 and $ 29.5 , respectively .", "based on our 2013 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 16.4 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2013 levels .", "foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates .", "since we report revenues and expenses in u.s .", "dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s .", "dollars ) from foreign operations .", "the primary foreign currencies that impacted our results during 2013 were the australian dollar , brazilian real , euro , japanese yen and the south african rand .", "based on 2013 exchange rates and operating results , if the u.s .", "dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase between 3% ( 3 % ) and 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2013 levels .", "the functional currency of our foreign operations is generally their respective local currency .", "assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented .", "the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets .", "our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk .", "however , certain subsidiaries may enter into transactions in currencies other than their functional currency .", "assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement .", "currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses .", "we have not entered into a material amount of foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates. ." ]

[ [ "", "Increase/(Decrease)in Fair Market Value" ], [ "As of December 31,", "10% Increasein Interest Rates", "10% Decreasein Interest Rates" ], [ "2013", "$(26.9)", "$27.9" ], [ "2012", "(27.5)", "28.4" ] ]

[ [ "as of december 31,", "increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates", "increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates" ], [ "2013", "$ -26.9 ( 26.9 )", "$ 27.9" ], [ "2012", "-27.5 ( 27.5 )", "28.4" ] ]

[ { "arg1": "24.7", "arg2": "16.4", "op": "add2-1", "res": "41.1" }, { "arg1": "24.7", "arg2": "16.4", "op": "minus2-2", "res": "8.3" } ]

[ "performance graph this graph compares the return on lilly stock with that of the standard & poor 2019s 500 stock index and our peer group for the years 2014 through 2018 .", "the graph assumes that , on december 31 , 2013 , a person invested $ 100 each in lilly stock , the s&p 500 stock index , and the peer groups' common stock .", "the graph measures total shareholder return , which takes into account both stock price and dividends .", "it assumes that dividends paid by a company are reinvested in that company 2019s stock .", "value of $ 100 invested on last business day of 2013 comparison of five-year cumulative total return among lilly , s&p 500 stock index , peer group ( 1 ) ." ]

[ "( 1 ) we constructed the peer group as the industry index for this graph .", "it comprises the companies in the pharmaceutical and biotech industries that we used to benchmark the compensation of our executive officers for 2018 : abbvie inc. ; amgen inc. ; astrazeneca plc ; baxter international inc. ; biogen idec inc. ; bristol-myers squibb company ; celgene corporation ; gilead sciences inc. ; glaxosmithkline plc ; johnson & johnson ; medtronic plc ; merck & co. , inc. ; novartis ag. ; pfizer inc. ; roche holdings ag ; sanofi ; and shire plc. ." ]

[ [ "", "Lilly", "Peer Group", "S&P 500" ], [ "Dec-13", "$100.00", "$100.00", "$100.00" ], [ "Dec-14", "$139.75", "$114.39", "$113.69" ], [ "Dec-15", "$175.21", "$116.56", "$115.26" ], [ "Dec-16", "$157.03", "$112.80", "$129.05" ], [ "Dec-17", "$185.04", "$128.90", "$157.22" ], [ "Dec-18", "$259.88", "$136.56", "$150.33" ] ]

[ [ "", "lilly", "peer group", "s&p 500" ], [ "dec-13", "$ 100.00", "$ 100.00", "$ 100.00" ], [ "dec-14", "$ 139.75", "$ 114.39", "$ 113.69" ], [ "dec-15", "$ 175.21", "$ 116.56", "$ 115.26" ], [ "dec-16", "$ 157.03", "$ 112.80", "$ 129.05" ], [ "dec-17", "$ 185.04", "$ 128.90", "$ 157.22" ], [ "dec-18", "$ 259.88", "$ 136.56", "$ 150.33" ] ]

[ { "arg1": "259.88", "arg2": "const_100", "op": "minus2-1", "res": "159.88" }, { "arg1": "#0", "arg2": "const_100", "op": "divide2-2", "res": "159.88%" }, { "arg1": "150.33", "arg2": "const_100", "op": "minus2-3", "res": "50.33" }, { "arg1": "#2", "arg2": "const_100", "op": "divide2-4", "res": "50.33%" }, { "arg1": "#1", "arg2": "#3", "op": "minus2-5", "res": "109.55%" } ]

[ "american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) maturities 2014as of december 31 , 2007 , aggregate carrying value of long-term debt , including capital leases , for the next five years and thereafter are estimated to be ( in thousands ) : year ending december 31 ." ]

[ "4 .", "acquisitions during the years ended december 31 , 2007 , 2006 and 2005 , the company used cash to acquire a total of ( i ) 293 towers and the assets of a structural analysis firm for approximately $ 44.0 million in cash ( ii ) 84 towers and 6 in-building distributed antenna systems for approximately $ 14.3 million and ( iii ) 30 towers for approximately $ 6.0 million in cash , respectively .", "the tower asset acquisitions were primarily in mexico and brazil under ongoing agreements .", "during the year ended december 31 , 2005 , the company also completed its merger with spectrasite , inc .", "pursuant to which the company acquired approximately 7800 towers and 100 in-building distributed antenna systems .", "under the terms of the merger agreement , in august 2005 , spectrasite , inc .", "merged with a wholly- owned subsidiary of the company , and each share of spectrasite , inc .", "common stock converted into the right to receive 3.575 shares of the company 2019s class a common stock .", "the company issued approximately 169.5 million shares of its class a common stock and reserved for issuance approximately 9.9 million and 6.8 million of class a common stock pursuant to spectrasite , inc .", "options and warrants , respectively , assumed in the merger .", "the final allocation of the $ 3.1 billion purchase price is summarized in the company 2019s annual report on form 10-k for the year ended december 31 , 2006 .", "the acquisitions consummated by the company during 2007 , 2006 and 2005 , have been accounted for under the purchase method of accounting in accordance with sfas no .", "141 201cbusiness combinations 201d ( sfas no .", "141 ) .", "the purchase prices have been allocated to the net assets acquired and the liabilities assumed based on their estimated fair values at the date of acquisition .", "the company primarily acquired its tower assets from third parties in one of two types of transactions : the purchase of a business or the purchase of assets .", "the structure of each transaction affects the way the company allocates purchase price within the consolidated financial statements .", "in the case of tower assets acquired through the purchase of a business , such as the company 2019s merger with spectrasite , inc. , the company allocates the purchase price to the assets acquired and liabilities assumed at their estimated fair values as of the date of acquisition .", "the excess of the purchase price paid by the company over the estimated fair value of net assets acquired has been recorded as goodwill .", "in the case of an asset purchase , the company first allocates the purchase price to property and equipment for the appraised value of the towers and to identifiable intangible assets ( primarily acquired customer base ) .", "the company then records any remaining purchase price within intangible assets as a 201cnetwork location intangible . 201d ." ]

[ [ "2008", "$1,817" ], [ "2009", "1,241" ], [ "2010", "78,828" ], [ "2011", "13,714" ], [ "2012", "1,894,998" ], [ "Thereafter", "2,292,895" ], [ "Total cash obligations", "$4,283,493" ], [ "Accreted value of the discount and premium of 3.00% Notes and 7.125% Notes", "1,791" ], [ "Balance as of December 31, 2007", "$4,285,284" ] ]

[ [ "2008", "$ 1817" ], [ "2009", "1241" ], [ "2010", "78828" ], [ "2011", "13714" ], [ "2012", "1894998" ], [ "thereafter", "2292895" ], [ "total cash obligations", "$ 4283493" ], [ "accreted value of the discount and premium of 3.00% ( 3.00 % ) notes and 7.125% ( 7.125 % ) notes", "1791" ], [ "balance as of december 31 2007", "$ 4285284" ] ]

[ { "arg1": "6.0", "arg2": "const_1000000", "op": "multiply1-1", "res": "6000000" }, { "arg1": "#0", "arg2": "30", "op": "divide1-2", "res": "200000" } ]

[ "celanese purchases of its equity securities information regarding repurchases of our common stock during the three months ended december 31 , 2014 is as follows : period number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced program approximate dollar value of shares remaining that may be purchased under the program ( 2 ) ." ]

[ "___________________________ ( 1 ) includes 27780 and 9537 for october and december 2014 , respectively , related to shares withheld from employees to cover their statutory minimum withholding requirements for personal income taxes related to the vesting of restricted stock units .", "( 2 ) our board of directors has authorized the aggregate repurchase of $ 1.4 billion of our common stock since february 2008 .", "see note 17 - stockholders' equity in the accompanying consolidated financial statements for further information .", "performance graph the following performance graph and related information shall not be deemed \"soliciting material\" or to be \"filed\" 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 we specifically incorporate it by reference into such filing .", "comparison of cumulative total return ." ]

[ [ "Period", "TotalNumberof SharesPurchased⁽¹⁾", "AveragePrice Paidper Share", "Total Numberof SharesPurchased asPart of PubliclyAnnounced Program", "ApproximateDollarValue of SharesRemaining thatmay bePurchased Underthe Program⁽²⁾" ], [ "October 1 - 31, 2014", "192,580", "$58.02", "164,800", "$490,000,000" ], [ "November 1 - 30, 2014", "468,128", "$59.25", "468,128", "$463,000,000" ], [ "December 1 - 31, 2014", "199,796", "$60.78", "190,259", "$451,000,000" ], [ "Total", "860,504", "", "823,187", "" ] ]

[ [ "period", "totalnumberof sharespurchased ( 1 )", "averageprice paidper share", "total numberof sharespurchased aspart of publiclyannounced program", "approximatedollarvalue of sharesremaining thatmay bepurchased underthe program ( 2 )" ], [ "october 1 - 31 2014", "192580", "$ 58.02", "164800", "$ 490000000" ], [ "november 1 - 30 2014", "468128", "$ 59.25", "468128", "$ 463000000" ], [ "december 1 - 31 2014", "199796", "$ 60.78", "190259", "$ 451000000" ], [ "total", "860504", "", "823187", "" ] ]

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[ "abiomed , inc .", "and subsidiaries notes to consolidated financial statements 2014 ( continued ) evidence of an arrangement exists , ( 2 ) delivery has occurred or services have been rendered , ( 3 ) the seller 2019s price to the buyer is fixed or determinable , and ( 4 ) collectibility is reasonably assured .", "further , sab 104 requires that both title and the risks and rewards of ownership be transferred to the buyer before revenue can be recognized .", "in addition to sab 104 , we follow the guidance of eitf 00-21 , revenue arrangements with multiple deliverables .", "we derive our revenues primarily from product sales , including maintenance service agreements .", "the great majority of our product revenues are derived from shipments of our ab5000 and bvs 5000 product lines to fulfill customer orders for a specified number of consoles and/or blood pumps for a specified price .", "we recognize revenues and record costs related to such sales upon product shipment .", "maintenance and service support contract revenues are recognized ratably over the term of the service contracts based upon the elapsed term of the service contract .", "government-sponsored research and development contracts and grants generally provide for payment on a cost-plus-fixed-fee basis .", "revenues from these contracts and grants are recognized as work is performed , provided the government has appropriated sufficient funds for the work .", "under contracts in which the company elects to spend significantly more on the development project during the term of the contract than the total contract amount , the company prospectively recognizes revenue on such contracts ratably over the term of the contract as it incurs related research and development costs , provided the government has appropriated sufficient funds for the work .", "( d ) translation of foreign currencies all assets and liabilities of the company 2019s non-u.s .", "subsidiaries are translated at year-end exchange rates , and revenues and expenses are translated at average exchange rates for the year in accordance with sfas no .", "52 , foreign currency translation .", "resulting translation adjustments are reflected in the accumulated other comprehensive loss component of shareholders 2019 equity .", "currency transaction gains and losses are included in the accompanying statement of income and are not material for the three years presented .", "( e ) warranties the company routinely accrues for estimated future warranty costs on its product sales at the time of sale .", "our products are subject to rigorous regulation and quality standards .", "warranty costs are included in cost of product revenues within the consolidated statements of operations .", "the following table summarizes the activities in the warranty reserve for the two fiscal years ended march 31 , 2006 ( in thousands ) ." ]

[ "." ]

[ [ "", "2005", "2006" ], [ "Balance at the beginning of the year", "$245", "$231" ], [ "Accrual for warranties", "198", "193" ], [ "Warranty expense incurred for the year", "(212)", "(257)" ], [ "Balance at the end of the year", "$231", "$167" ] ]

[ [ "", "2005", "2006" ], [ "balance at the beginning of the year", "$ 245", "$ 231" ], [ "accrual for warranties", "198", "193" ], [ "warranty expense incurred for the year", "-212 ( 212 )", "-257 ( 257 )" ], [ "balance at the end of the year", "$ 231", "$ 167" ] ]

[ { "arg1": "167", "arg2": "231", "op": "minus1-1", "res": "-64" }, { "arg1": "#0", "arg2": "231", "op": "divide1-2", "res": "-28%" } ]

[ "table of contents performance graph the following performance graph shows the cumulative total return to a holder of the company 2019s common stock , assuming dividend reinvestment , compared with the cumulative total return , assuming dividend reinvestment , of the standard & poor ( \"s&p\" ) 500 index and the dow jones us financials index during the period from december 31 , 2010 through december 31 , 2015. ." ]

[ "." ]

[ [ "", "12/10", "12/11", "12/12", "12/13", "12/14", "12/15" ], [ "E*TRADE Financial Corporation", "100.00", "49.75", "55.94", "122.75", "151.59", "185.25" ], [ "S&P 500 Index", "100.00", "102.11", "118.45", "156.82", "178.29", "180.75" ], [ "Dow Jones US Financials Index", "100.00", "87.16", "110.56", "148.39", "170.04", "170.19" ] ]

[ [ "", "12/10", "12/11", "12/12", "12/13", "12/14", "12/15" ], [ "e*trade financial corporation", "100.00", "49.75", "55.94", "122.75", "151.59", "185.25" ], [ "s&p 500 index", "100.00", "102.11", "118.45", "156.82", "178.29", "180.75" ], [ "dow jones us financials index", "100.00", "87.16", "110.56", "148.39", "170.04", "170.19" ] ]

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

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

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

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

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[ "note 12 2013 stock-based compensation during 2013 , 2012 , and 2011 , we recorded non-cash stock-based compensation expense totaling $ 189 million , $ 167 million , and $ 157 million , which is included as a component of other unallocated costs on our statements of earnings .", "the net impact to earnings for the respective years was $ 122 million , $ 108 million , and $ 101 million .", "as of december 31 , 2013 , we had $ 132 million of unrecognized compensation cost related to nonvested awards , which is expected to be recognized over a weighted average period of 1.5 years .", "we received cash from the exercise of stock options totaling $ 827 million , $ 440 million , and $ 116 million during 2013 , 2012 , and 2011 .", "in addition , our income tax liabilities for 2013 , 2012 , and 2011 were reduced by $ 158 million , $ 96 million , and $ 56 million due to recognized tax benefits on stock-based compensation arrangements .", "stock-based compensation plans under plans approved by our stockholders , we are authorized to grant key employees stock-based incentive awards , including options to purchase common stock , stock appreciation rights , restricted stock units ( rsus ) , performance stock units ( psus ) , or other stock units .", "the exercise price of options to purchase common stock may not be less than the fair market value of our stock on the date of grant .", "no award of stock options may become fully vested prior to the third anniversary of the grant , and no portion of a stock option grant may become vested in less than one year .", "the minimum vesting period for restricted stock or stock units payable in stock is three years .", "award agreements may provide for shorter or pro-rated vesting periods or vesting following termination of employment in the case of death , disability , divestiture , retirement , change of control , or layoff .", "the maximum term of a stock option or any other award is 10 years .", "at december 31 , 2013 , inclusive of the shares reserved for outstanding stock options , rsus and psus , we had 20.4 million shares reserved for issuance under the plans .", "at december 31 , 2013 , 4.7 million of the shares reserved for issuance remained available for grant under our stock-based compensation plans .", "we issue new shares upon the exercise of stock options or when restrictions on rsus and psus have been satisfied .", "the following table summarizes activity related to nonvested rsus during 2013 : number of rsus ( in thousands ) weighted average grant-date fair value per share ." ]

[ "rsus are valued based on the fair value of our common stock on the date of grant .", "employees who are granted rsus receive the right to receive shares of stock after completion of the vesting period , however , the shares are not issued , and the employees cannot sell or transfer shares prior to vesting and have no voting rights until the rsus vest , generally three years from the date of the award .", "employees who are granted rsus receive dividend-equivalent cash payments only upon vesting .", "for these rsu awards , the grant-date fair value is equal to the closing market price of our common stock on the date of grant less a discount to reflect the delay in payment of dividend-equivalent cash payments .", "we recognize the grant-date fair value of rsus , less estimated forfeitures , as compensation expense ratably over the requisite service period , which beginning with the rsus granted in 2013 is shorter than the vesting period if the employee is retirement eligible on the date of grant or will become retirement eligible before the end of the vesting period .", "stock options we generally recognize compensation cost for stock options ratably over the three-year vesting period .", "at december 31 , 2013 and 2012 , there were 10.2 million ( weighted average exercise price of $ 83.65 ) and 20.6 million ( weighted average exercise price of $ 83.15 ) stock options outstanding .", "stock options outstanding at december 31 , 2013 have a weighted average remaining contractual life of approximately five years and an aggregate intrinsic value of $ 663 million , and we expect nearly all of these stock options to vest .", "of the stock options outstanding , 7.7 million ( weighted average exercise price of $ 84.37 ) have vested as of december 31 , 2013 and those stock options have a weighted average remaining contractual life of approximately four years and an aggregate intrinsic value of $ 497 million .", "there were 10.1 million ( weighted average exercise price of $ 82.72 ) stock options exercised during 2013 .", "we did not grant stock options to employees during 2013. ." ]

[ [ "", "Number of RSUs (In thousands)", "Weighted Average Grant-Date Fair Value PerShare" ], [ "Nonvested at December 31, 2012", "4,822", "$79.10" ], [ "Granted", "1,356", "89.24" ], [ "Vested", "(2,093)", "79.26" ], [ "Forfeited", "(226)", "81.74" ], [ "Nonvested at December 31, 2013", "3,859", "$82.42" ] ]

[ [ "", "number of rsus ( in thousands )", "weighted average grant-date fair value pershare" ], [ "nonvested at december 31 2012", "4822", "$ 79.10" ], [ "granted", "1356", "89.24" ], [ "vested", "-2093 ( 2093 )", "79.26" ], [ "forfeited", "-226 ( 226 )", "81.74" ], [ "nonvested at december 31 2013", "3859", "$ 82.42" ] ]

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[ "part ii item 5 .", "market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities vornado 2019s common shares are traded on the new york stock exchange under the symbol 201cvno . 201d quarterly high and low sales prices of the common shares and dividends paid per share for the years ended december 31 , 2011 and 2010 were as follows : year ended year ended december 31 , 2011 december 31 , 2010 ." ]

[ "as of february 1 , 2012 , there were 1230 holders of record of our common shares .", "recent sales of unregistered securities during the fourth quarter of 2011 , we issued 20891 common shares upon the redemption of class a units of the operating partnership held by persons who received units , in private placements in earlier periods , in exchange for their interests in limited partnerships that owned real estate .", "the common shares were issued without registration under the securities act of 1933 in reliance on section 4 ( 2 ) of that act .", "information relating to compensation plans under which our equity securities are authorized for issuance is set forth under part iii , item 12 of this annual report on form 10-k and such information is incorporated by reference herein .", "recent purchases of equity securities in december 2011 , we received 410783 vornado common shares at an average price of $ 76.36 per share as payment for the exercise of certain employee options. ." ]

[ [ "", "Year Ended December 31, 2011", "Year Ended December 31, 2010" ], [ "Quarter", "High", "Low", "Dividends", "High", "Low", "Dividends" ], [ "1st", "$93.53", "$82.12", "$0.69", "$78.40", "$61.25", "$0.65" ], [ "2nd", "98.42", "86.85", "0.69", "86.79", "70.06", "0.65" ], [ "3rd", "98.77", "72.85", "0.69", "89.06", "68.59", "0.65" ], [ "4th", "84.30", "68.39", "0.69", "91.67", "78.06", "0.65" ] ]

[ [ "quarter", "year ended december 31 2011 high", "year ended december 31 2011 low", "year ended december 31 2011 dividends", "year ended december 31 2011 high", "year ended december 31 2011 low", "dividends" ], [ "1st", "$ 93.53", "$ 82.12", "$ 0.69", "$ 78.40", "$ 61.25", "$ 0.65" ], [ "2nd", "98.42", "86.85", "0.69", "86.79", "70.06", "0.65" ], [ "3rd", "98.77", "72.85", "0.69", "89.06", "68.59", "0.65" ], [ "4th", "84.30", "68.39", "0.69", "91.67", "78.06", "0.65" ] ]

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