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MehdiHosseiniMoghadam

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[ "management 2019s discussion and analysis we believe our credit ratings are primarily based on the credit rating agencies 2019 assessment of : 2030 our liquidity , market , credit and operational risk management practices ; 2030 the level and variability of our earnings ; 2030 our capital base ; 2030 our franchise , reputation and management ; 2030 our corporate governance ; and 2030 the external operating environment , including the assumed level of government support .", "certain of the firm 2019s derivatives have been transacted under bilateral agreements with counterparties who may require us to post collateral or terminate the transactions based on changes in our credit ratings .", "we assess the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies .", "a downgrade by any one rating agency , depending on the agency 2019s relative ratings of the firm at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies .", "we allocate a portion of our gce to ensure we would be able to make the additional collateral or termination payments that may be required in the event of a two-notch reduction in our long-term credit ratings , as well as collateral that has not been called by counterparties , but is available to them .", "the table below presents the additional collateral or termination payments that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in our credit ratings. ." ]

[ "in millions 2012 2011 additional collateral or termination payments for a one-notch downgrade $ 1534 $ 1303 additional collateral or termination payments for a two-notch downgrade 2500 2183 cash flows as a global financial institution , our cash flows are complex and bear little relation to our net earnings and net assets .", "consequently , we believe that traditional cash flow analysis is less meaningful in evaluating our liquidity position than the excess liquidity and asset-liability management policies described above .", "cash flow analysis may , however , be helpful in highlighting certain macro trends and strategic initiatives in our businesses .", "year ended december 2012 .", "our cash and cash equivalents increased by $ 16.66 billion to $ 72.67 billion at the end of 2012 .", "we generated $ 9.14 billion in net cash from operating and investing activities .", "we generated $ 7.52 billion in net cash from financing activities from an increase in bank deposits , partially offset by net repayments of unsecured and secured long-term borrowings .", "year ended december 2011 .", "our cash and cash equivalents increased by $ 16.22 billion to $ 56.01 billion at the end of 2011 .", "we generated $ 23.13 billion in net cash from operating and investing activities .", "we used net cash of $ 6.91 billion for financing activities , primarily for repurchases of our series g preferred stock and common stock , partially offset by an increase in bank deposits .", "year ended december 2010 .", "our cash and cash equivalents increased by $ 1.50 billion to $ 39.79 billion at the end of 2010 .", "we generated $ 7.84 billion in net cash from financing activities primarily from net proceeds from issuances of short-term secured financings .", "we used net cash of $ 6.34 billion for operating and investing activities , primarily to fund an increase in securities purchased under agreements to resell and an increase in cash and securities segregated for regulatory and other purposes , partially offset by cash generated from a decrease in securities borrowed .", "goldman sachs 2012 annual report 87 ." ]

[ [ "", "As of December" ], [ "<i>in millions</i>", "2012", "2011" ], [ "Additional collateral or termination payments for a one-notch downgrade", "$1,534", "$1,303" ], [ "Additional collateral or termination payments for a two-notch downgrade", "2,500", "2,183" ] ]

[ [ "in millions", "as of december 2012", "as of december 2011" ], [ "additional collateral or termination payments for a one-notch downgrade", "$ 1534", "$ 1303" ], [ "additional collateral or termination payments for a two-notch downgrade", "2500", "2183" ] ]

[ { "arg1": "2500", "arg2": "1534", "op": "minus1-1", "res": "966" }, { "arg1": "#0", "arg2": "1534", "op": "divide1-2", "res": "63%" } ]

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

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

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

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

[ { "arg1": "4.5", "arg2": "1", "op": "minus2-1", "res": "3.5" }, { "arg1": "1", "arg2": "#0", "op": "divide2-2", "res": "28.6%" } ]

[ "table of contents company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the s&p computer hardware index , and the dow jones u.s .", "technology supersector index .", "the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p computer hardware index , and the dow jones u.s .", "technology supersector index as of the market close on september 30 , 2008 .", "data points on the graph are annual .", "note that historic stock price performance is not necessarily indicative of future stock price performance .", "fiscal year ending september 30 .", "copyright 2013 s&p , a division of the mcgraw-hill companies inc .", "all rights reserved .", "copyright 2013 dow jones & co .", "all rights reserved .", "*$ 100 invested on 9/30/08 in stock or index , including reinvestment of dividends .", "september 30 , september 30 , september 30 , september 30 , september 30 , september 30 ." ]

[ "." ]

[ [ "", "September 30, 2008", "September 30, 2009", "September 30, 2010", "September 30, 2011", "September 30, 2012", "September 30, 2013" ], [ "Apple Inc.", "$100", "$163", "$250", "$335", "$589", "$431" ], [ "S&P 500 Index", "$100", "$ 93", "$103", "$104", "$135", "$161" ], [ "S&P Computer Hardware Index", "$100", "$118", "$140", "$159", "$255", "$197" ], [ "Dow Jones US Technology Supersector Index", "$100", "$111", "$124", "$128", "$166", "$175" ] ]

[ [ "", "september 30 2008", "september 30 2009", "september 30 2010", "september 30 2011", "september 30 2012", "september 30 2013" ], [ "apple inc .", "$ 100", "$ 163", "$ 250", "$ 335", "$ 589", "$ 431" ], [ "s&p 500 index", "$ 100", "$ 93", "$ 103", "$ 104", "$ 135", "$ 161" ], [ "s&p computer hardware index", "$ 100", "$ 118", "$ 140", "$ 159", "$ 255", "$ 197" ], [ "dow jones us technology supersector index", "$ 100", "$ 111", "$ 124", "$ 128", "$ 166", "$ 175" ] ]

[ { "arg1": "431", "arg2": "100", "op": "minus1-1", "res": "331" }, { "arg1": "#0", "arg2": "100", "op": "divide1-2", "res": "331%" } ]

[ "areas exceeding 14.1 million acres ( 5.7 million hectares ) .", "products and brand designations appearing in italics are trademarks of international paper or a related company .", "industry segment results industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods production , as well as with demand for processed foods , poultry , meat and agricultural products .", "in addition to prices and volumes , major factors affecting the profitability of industrial packaging are raw material and energy costs , freight costs , manufacturing efficiency and product mix .", "industrial packaging net sales and operating profits include the results of the temple-inland packaging operations from the date of acquisition in february 2012 and the results of the brazil packaging business from the date of acquisition in january 2013 .", "in addition , due to the acquisition of a majority share of olmuksa international paper sabanci ambalaj sanayi ve ticaret a.s. , ( now called olmuksan international paper or olmuksan ) net sales for our corrugated packaging business in turkey are included in the business segment totals beginning in the first quarter of 2013 and the operating profits reflect a higher ownership percentage than in previous years .", "net sales for 2013 increased 12% ( 12 % ) to $ 14.8 billion compared with $ 13.3 billion in 2012 , and 42% ( 42 % ) compared with $ 10.4 billion in 2011 .", "operating profits were 69% ( 69 % ) higher in 2013 than in 2012 and 57% ( 57 % ) higher than in 2011 .", "excluding costs associated with the acquisition and integration of temple-inland , the divestiture of three containerboard mills and other special items , operating profits in 2013 were 36% ( 36 % ) higher than in 2012 and 59% ( 59 % ) higher than in 2011 .", "benefits from the net impact of higher average sales price realizations and an unfavorable mix ( $ 749 million ) were offset by lower sales volumes ( $ 73 million ) , higher operating costs ( $ 64 million ) , higher maintenance outage costs ( $ 16 million ) and higher input costs ( $ 102 million ) .", "additionally , operating profits in 2013 include costs of $ 62 million associated with the integration of temple-inland , a gain of $ 13 million related to a bargain purchase adjustment on the acquisition of a majority share of our operations in turkey , and a net gain of $ 1 million for other items , while operating profits in 2012 included costs of $ 184 million associated with the acquisition and integration of temple-inland , mill divestiture costs of $ 91 million , costs associated with the restructuring of our european packaging business of $ 17 million and a $ 3 million gain for other items .", "industrial packaging ." ]

[ "north american industrial packaging net sales were $ 12.5 billion in 2013 compared with $ 11.6 billion in 2012 and $ 8.6 billion in 2011 .", "operating profits in 2013 were $ 1.8 billion ( both including and excluding costs associated with the integration of temple-inland and other special items ) compared with $ 1.0 billion ( $ 1.3 billion excluding costs associated with the acquisition and integration of temple-inland and mill divestiture costs ) in 2012 and $ 1.1 billion ( both including and excluding costs associated with signing an agreement to acquire temple-inland ) in 2011 .", "sales volumes decreased in 2013 compared with 2012 reflecting flat demand for boxes and the impact of commercial decisions .", "average sales price realizations were significantly higher mainly due to the realization of price increases for domestic containerboard and boxes .", "input costs were higher for wood , energy and recycled fiber .", "freight costs also increased .", "planned maintenance downtime costs were higher than in 2012 .", "manufacturing operating costs decreased , but were offset by inflation and higher overhead and distribution costs .", "the business took about 850000 tons of total downtime in 2013 of which about 450000 were market- related and 400000 were maintenance downtime .", "in 2012 , the business took about 945000 tons of total downtime of which about 580000 were market-related and about 365000 were maintenance downtime .", "operating profits in 2013 included $ 62 million of costs associated with the integration of temple-inland .", "operating profits in 2012 included $ 184 million of costs associated with the acquisition and integration of temple-inland and $ 91 million of costs associated with the divestiture of three containerboard mills .", "looking ahead to 2014 , compared with the fourth quarter of 2013 , sales volumes in the first quarter are expected to increase for boxes due to a higher number of shipping days offset by the impact from the severe winter weather events impacting much of the u.s .", "input costs are expected to be higher for energy , recycled fiber , wood and starch .", "planned maintenance downtime spending is expected to be about $ 51 million higher with outages scheduled at six mills compared with four mills in the 2013 fourth quarter .", "manufacturing operating costs are expected to be lower .", "however , operating profits will be negatively impacted by the adverse winter weather in the first quarter of 2014 .", "emea industrial packaging net sales in 2013 include the sales of our packaging operations in turkey which are now fully consolidated .", "net sales were $ 1.3 billion in 2013 compared with $ 1.0 billion in 2012 and $ 1.1 billion in 2011 .", "operating profits in 2013 were $ 43 million ( $ 32 ." ]

[ [ "In millions", "2013", "2012", "2011" ], [ "Sales", "$14,810", "$13,280", "$10,430" ], [ "Operating Profit", "1,801", "1,066", "1,147" ] ]

[ [ "in millions", "2013", "2012", "2011" ], [ "sales", "$ 14810", "$ 13280", "$ 10430" ], [ "operating profit", "1801", "1066", "1147" ] ]

[ { "arg1": "12.5", "arg2": "const_1000", "op": "multiply1-1", "res": "12500" }, { "arg1": "#0", "arg2": "14810", "op": "divide1-2", "res": "84%" } ]

[ "performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citi 2019s common stock , which is listed on the nyse under the ticker symbol 201cc 201d and held by 77787 common stockholders of record as of january 31 , 2017 , with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period through december 31 , 2016 .", "the graph and table assume that $ 100 was invested on december 31 , 2011 in citi 2019s common stock , the s&p 500 index and the s&p financial index , and that all dividends were reinvested .", "comparison of five-year cumulative total return for the years ended date citi s&p 500 financials ." ]

[ "." ]

[ [ "DATE", "CITI", "S&P 500", "S&P FINANCIALS" ], [ "31-Dec-2011", "100.0", "100.0", "100.0" ], [ "31-Dec-2012", "150.6", "116.0", "128.8" ], [ "31-Dec-2013", "198.5", "153.6", "174.7" ], [ "31-Dec-2014", "206.3", "174.6", "201.3" ], [ "31-Dec-2015", "197.8", "177.0", "198.2" ], [ "31-Dec-2016", "229.3", "198.2", "243.4" ] ]

[ [ "date", "citi", "s&p 500", "s&p financials" ], [ "31-dec-2011", "100.0", "100.0", "100.0" ], [ "31-dec-2012", "150.6", "116.0", "128.8" ], [ "31-dec-2013", "198.5", "153.6", "174.7" ], [ "31-dec-2014", "206.3", "174.6", "201.3" ], [ "31-dec-2015", "197.8", "177.0", "198.2" ], [ "31-dec-2016", "229.3", "198.2", "243.4" ] ]

[ { "arg1": "229.3", "arg2": "const_100", "op": "minus1-1", "res": "129.3" }, { "arg1": "198.2", "arg2": "const_100", "op": "minus1-2", "res": "98.2" }, { "arg1": "#0", "arg2": "#1", "op": "divide1-3", "res": "1.32" } ]

[ "2022 asset utilization 2013 in response to economic conditions and lower revenue in 2009 , we implemented productivity initiatives to improve efficiency and reduce costs , in addition to adjusting our resources to reflect lower demand .", "although varying throughout the year , our resource reductions included removing from service approximately 26% ( 26 % ) of our road locomotives and 18% ( 18 % ) of our freight car inventory by year end .", "we also reduced shift levels at most rail facilities and closed or significantly reduced operations in 30 of our 114 principal rail yards .", "these demand-driven resource adjustments and our productivity initiatives combined to reduce our workforce by 10% ( 10 % ) .", "2022 fuel prices 2013 as the economy worsened during the third and fourth quarters of 2008 , fuel prices dropped dramatically , reaching $ 33.87 per barrel in december 2008 , a near five-year low .", "throughout 2009 , crude oil prices generally increased , ending the year around $ 80 per barrel .", "overall , our average fuel price decreased by 44% ( 44 % ) in 2009 , reducing operating expenses by $ 1.3 billion compared to 2008 .", "we also reduced our consumption rate by 4% ( 4 % ) during the year , saving approximately 40 million gallons of fuel .", "the use of newer , more fuel efficient locomotives ; increased use of distributed locomotive power ; fuel conservation programs ; and improved network operations and asset utilization all contributed to this improvement .", "2022 free cash flow 2013 cash generated by operating activities totaled $ 3.2 billion , yielding free cash flow of $ 515 million in 2009 .", "free cash flow is defined as cash provided by operating activities , less cash used in investing activities and dividends paid .", "free cash flow is not considered a financial measure under accounting principles generally accepted in the united states ( gaap ) by sec regulation g and item 10 of sec regulation s-k .", "we believe free cash flow is important in evaluating our financial performance and measures our ability to 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 of dollars 2009 2008 2007 ." ]

[ "2010 outlook 2022 safety 2013 operating a safe railroad benefits our employees , our customers , our shareholders , and the public .", "we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , and training , and by engaging our employees .", "we will continue implementing total safety culture ( tsc ) throughout our operations .", "tsc is designed to establish , maintain , reinforce , and promote safe practices among co-workers .", "this process allows us to identify and implement best practices for employee and operational safety .", "reducing grade-crossing incidents is a critical aspect of our safety programs , and we will continue our efforts to maintain , upgrade , and close crossings ; install video cameras on locomotives ; and educate the public about crossing safety through our own programs , various industry programs , and other activities .", "2022 transportation plan 2013 to build upon our success in recent years , we will continue evaluating traffic flows and network logistic patterns , which can be quite dynamic from year-to-year , to identify additional opportunities to simplify operations , remove network variability and improve network efficiency and asset utilization .", "we plan to adjust manpower and our locomotive and rail car fleets to ." ]

[ [ "<i>Millions of Dollars</i>", "<i>2009</i>", "2008", "2007" ], [ "Cash provided by operating activities", "$3,234", "$4,070", "$3,277" ], [ "Cash used in investing activities", "(2,175)", "(2,764)", "(2,426)" ], [ "Dividends paid", "(544)", "(481)", "(364)" ], [ "Free cash flow", "$515", "$825", "$487" ] ]

[ [ "millions of dollars", "2009", "2008", "2007" ], [ "cash provided by operating activities", "$ 3234", "$ 4070", "$ 3277" ], [ "cash used in investing activities", "-2175 ( 2175 )", "-2764 ( 2764 )", "-2426 ( 2426 )" ], [ "dividends paid", "-544 ( 544 )", "-481 ( 481 )", "-364 ( 364 )" ], [ "free cash flow", "$ 515", "$ 825", "$ 487" ] ]

[ { "arg1": "515", "arg2": "825", "op": "minus2-1", "res": "-310" }, { "arg1": "#0", "arg2": "825", "op": "divide2-2", "res": "-38%" } ]

[ "fortron industries llc .", "fortron is a leading global producer of pps , sold under the fortron ae brand , which is used in a wide variety of automotive and other applications , especially those requiring heat and/or chemical resistance .", "fortron's facility is located in wilmington , north carolina .", "this venture combines the sales , marketing , distribution , compounding and manufacturing expertise of celanese with the pps polymer technology expertise of kureha america inc .", "cellulose derivatives strategic ventures .", "our cellulose derivatives ventures generally fund their operations using operating cash flow and pay dividends based on each ventures' performance in the preceding year .", "in 2014 , 2013 and 2012 , we received cash dividends of $ 115 million , $ 92 million and $ 83 million , respectively .", "although our ownership interest in each of our cellulose derivatives ventures exceeds 20% ( 20 % ) , we account for these investments using the cost method of accounting because we determined that we cannot exercise significant influence over these entities due to local government investment in and influence over these entities , limitations on our involvement in the day-to-day operations and the present inability of the entities to provide timely financial information prepared in accordance with generally accepted accounting principles in the united states of america ( \"us gaap\" ) .", "2022 other equity method investments infraservs .", "we hold indirect ownership interests in several german infraserv groups that own and develop industrial parks and provide on-site general and administrative support to tenants .", "our ownership interest in the equity investments in infraserv affiliates are as follows : as of december 31 , 2014 ( in percentages ) ." ]

[ "research and development our businesses are innovation-oriented and conduct research and development activities to develop new , and optimize existing , production technologies , as well as to develop commercially viable new products and applications .", "research and development expense was $ 86 million , $ 85 million and $ 104 million for the years ended december 31 , 2014 , 2013 and 2012 , respectively .", "we consider the amounts spent during each of the last three fiscal years on research and development activities to be sufficient to execute our current strategic initiatives .", "intellectual property we attach importance to protecting our intellectual property , including safeguarding our confidential information and through our patents , trademarks and copyrights , in order to preserve our investment in research and development , manufacturing and marketing .", "patents may cover processes , equipment , products , intermediate products and product uses .", "we also seek to register trademarks as a means of protecting the brand names of our company and products .", "patents .", "in most industrial countries , patent protection exists for new substances and formulations , as well as for certain unique applications and production processes .", "however , we do business in regions of the world where intellectual property protection may be limited and difficult to enforce .", "confidential information .", "we maintain stringent information security policies and procedures wherever we do business .", "such information security policies and procedures include data encryption , controls over the disclosure and safekeeping of confidential information and trade secrets , as well as employee awareness training .", "trademarks .", "aoplus ae , aoplus ae2 , aoplus ae3 , ateva ae , avicor ae , britecoat ae , celanese ae , celanex ae , celcon ae , celfx 2122 , celstran ae , celvolit ae , clarifoil ae , duroset ae , ecovae ae , factor ae , fortron ae , gur ae , hostaform ae , impet ae , mowilith ae , nutrinova ae , qorus 2122 , riteflex ae , sunett ae , tcx 2122 , thermx ae , tufcor ae , vantage ae , vantageplus 2122 , vantage ae2 , vectra ae , vinamul ae , vitaldose ae , zenite ae and certain other branded products and services named in this document are registered or reserved trademarks or service marks owned or licensed by celanese .", "the foregoing is not intended to be an exhaustive or comprehensive list of all registered or reserved trademarks and service marks owned or licensed by celanese .", "fortron ae is a registered trademark of fortron industries llc. ." ]

[ [ "", "As of December 31, 2014 (In percentages)" ], [ "InfraServ GmbH & Co. Gendorf KG", "39" ], [ "InfraServ GmbH & Co. Hoechst KG", "32" ], [ "InfraServ GmbH & Co. Knapsack KG", "27" ] ]

[ [ "", "as of december 31 2014 ( in percentages )" ], [ "infraserv gmbh & co . gendorf kg", "39" ], [ "infraserv gmbh & co . hoechst kg", "32" ], [ "infraserv gmbh & co . knapsack kg", "27" ] ]

[ { "arg1": "86", "arg2": "85", "op": "minus1-1", "res": "1" }, { "arg1": "#0", "arg2": "85", "op": "divide1-2", "res": "1.2%" } ]

[ "2022 integration of new projects .", "during 2010 , the following projects were acquired or commenced commercial operations : project location fuel aes equity interest ( percent , rounded ) ." ]

[ "damlapinar ( 4 ) .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "turkey hydro 16 51% ( 51 % ) ( 1 ) jianghe rural electrification development co .", "ltd .", "( 201cjhrh 201d ) and aes china hydropower investment co .", "ltd .", "entered into an agreement to acquire a 49% ( 49 % ) interest in this joint venture in june 2010 .", "acquisition of 35% ( 35 % ) ownership was completed in june 2010 and the transfer of the remaining 14% ( 14 % ) ownership , which is subject to approval by the chinese government , is expected to be completed in may 2011 .", "( 2 ) guacolda is an equity method investment indirectly held by aes through gener .", "the aes equity interest reflects the 29% ( 29 % ) noncontrolling interests in gener .", "( 3 ) joint venture with guohua energy investment co .", "ltd .", "( 4 ) joint venture with i.c .", "energy .", "key trends and uncertainties our operations continue to face many risks as discussed in item 1a . 2014risk factors of this form 10-k .", "some of these challenges are also described above in key drivers of results in 2010 .", "we continue to monitor our operations and address challenges as they arise .", "development .", "during the past year , the company has successfully acquired and completed construction of a number of projects , totaling approximately 2404 mw , including the acquisition of ballylumford in the united kingdom and completion of construction of a number of projects in europe , chile and china .", "however , as discussed in item 1a . 2014risk factors 2014our business is subject to substantial development uncertainties of this form 10-k , our development projects are subject to uncertainties .", "certain delays have occurred at the 670 mw maritza coal-fired project in bulgaria , and the project has not yet begun commercial operations .", "as noted in note 10 2014debt included in item 8 of this form 10-k , as a result of these delays the project debt is in default and the company is working with its lenders to resolve the default .", "in addition , as noted in item 3 . 2014legal proceedings , the company is in litigation with the contractor regarding the cause of delays .", "at this time , we believe that maritza will commence commercial operations for at least some of the project 2019s capacity by the second half of 2011 .", "however , commencement of commercial operations could be delayed beyond this time frame .", "there can be no assurance that maritza will achieve commercial operations , in whole or in part , by the second half of 2011 , resolve the default with the lenders or prevail in the litigation referenced above , which could result in the loss of some or all of our investment or require additional funding for the project .", "any of these events could have a material adverse effect on the company 2019s operating results or financial position .", "global economic conditions .", "during the past few years , economic conditions in some countries where our subsidiaries conduct business have deteriorated .", "although the economic conditions in several of these countries have improved in recent months , our businesses could be impacted in the event these recent trends do not continue. ." ]

[ [ "Project", "Location", "Fuel", "Gross MW", "AES Equity Interest (Percent, Rounded)" ], [ "Ballylumford", "United Kingdom", "Gas", "1,246", "100%" ], [ "JHRH⁽¹⁾", "China", "Hydro", "379", "35%" ], [ "Nueva Ventanas", "Chile", "Coal", "272", "71%" ], [ "St. Nikola", "Bulgaria", "Wind", "156", "89%" ], [ "Guacolda 4⁽²⁾", "Chile", "Coal", "152", "35%" ], [ "Dong Qi⁽³⁾", "China", "Wind", "49", "49%" ], [ "Huanghua II⁽³⁾", "China", "Wind", "49", "49%" ], [ "St. Patrick", "France", "Wind", "35", "100%" ], [ "North Rhins", "Scotland", "Wind", "22", "100%" ], [ "Kepezkaya", "Turkey", "Hydro", "28", "51%" ], [ "Damlapinar⁽⁴⁾", "Turkey", "Hydro", "16", "51%" ] ]

[ [ "project", "location", "fuel", "gross mw", "aes equity interest ( percent rounded )" ], [ "ballylumford", "united kingdom", "gas", "1246", "100% ( 100 % )" ], [ "jhrh ( 1 )", "china", "hydro", "379", "35% ( 35 % )" ], [ "nueva ventanas", "chile", "coal", "272", "71% ( 71 % )" ], [ "st . nikola", "bulgaria", "wind", "156", "89% ( 89 % )" ], [ "guacolda 4 ( 2 )", "chile", "coal", "152", "35% ( 35 % )" ], [ "dong qi ( 3 )", "china", "wind", "49", "49% ( 49 % )" ], [ "huanghua ii ( 3 )", "china", "wind", "49", "49% ( 49 % )" ], [ "st . patrick", "france", "wind", "35", "100% ( 100 % )" ], [ "north rhins", "scotland", "wind", "22", "100% ( 100 % )" ], [ "kepezkaya", "turkey", "hydro", "28", "51% ( 51 % )" ], [ "damlapinar ( 4 )", "turkey", "hydro", "16", "51% ( 51 % )" ] ]

[]

[ "recourse and repurchase obligations as discussed in note 3 loans sale and servicing activities and variable interest entities , pnc has sold commercial mortgage and residential mortgage loans directly or indirectly in securitizations and whole-loan sale transactions with continuing involvement .", "one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets in these transactions .", "commercial mortgage loan recourse obligations we originate , close and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s dus program .", "we participated in a similar program with the fhlmc .", "under these programs , we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement .", "at december 31 , 2011 and december 31 , 2010 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 13.0 billion and $ 13.2 billion , respectively .", "the potential maximum exposure under the loss share arrangements was $ 4.0 billion at both december 31 , 2011 and december 31 , 2010 .", "we maintain a reserve for estimated losses based upon our exposure .", "the reserve for losses under these programs totaled $ 47 million and $ 54 million as of december 31 , 2011 and december 31 , 2010 , respectively , and is included in other liabilities on our consolidated balance sheet .", "if payment is required under these programs , we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred , although the value of the collateral is taken into account in determining our share of such losses .", "our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment .", "analysis of commercial mortgage recourse obligations ." ]

[ "residential mortgage loan and home equity repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors .", "these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements .", "residential mortgage loans covered by these loan repurchase obligations include first and second-lien mortgage loans we have sold through agency securitizations , non-agency securitizations , and whole-loan sale transactions .", "as discussed in note 3 in this report , agency securitizations consist of mortgage loans sale transactions with fnma , fhlmc , and gnma , while non-agency securitizations and whole-loan sale transactions consist of mortgage loans sale transactions with private investors .", "our historical exposure and activity associated with agency securitization repurchase obligations has primarily been related to transactions with fnma and fhlmc , as indemnification and repurchase losses associated with fha and va-insured and uninsured loans pooled in gnma securitizations historically have been minimal .", "repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment .", "pnc 2019s repurchase obligations also include certain brokered home equity loans/lines that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition .", "pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of whole-loans sold in these transactions .", "repurchase activity associated with brokered home equity loans/lines is reported in the non-strategic assets portfolio segment .", "loan covenants and representations and warranties are established through loan sale agreements with various investors to provide assurance that pnc has sold loans to investors of sufficient investment quality .", "key aspects of such covenants and representations and warranties include the loan 2019s compliance with any applicable loan criteria established by the investor , including underwriting standards , delivery of all required loan documents to the investor or its designated party , sufficient collateral valuation , and the validity of the lien securing the loan .", "as a result of alleged breaches of these contractual obligations , investors may request pnc to indemnify them against losses on certain loans or to repurchase loans .", "these investor indemnification or repurchase claims are typically settled on an individual loan basis through make- whole payments or loan repurchases ; however , on occasion we may negotiate pooled settlements with investors .", "indemnifications for loss or loan repurchases typically occur when , after review of the claim , we agree insufficient evidence exists to dispute the investor 2019s claim that a breach of a loan covenant and representation and warranty has occurred , such breach has not been cured , and the effect of such breach is deemed to have had a material and adverse effect on the value of the transferred loan .", "depending on the sale agreement and upon proper notice from the investor , we typically respond to such indemnification and repurchase requests within 60 days , although final resolution of the claim may take a longer period of time .", "with the exception of the sales the pnc financial services group , inc .", "2013 form 10-k 199 ." ]

[ [ "In millions", "2011", "2010" ], [ "January 1", "$54", "$71" ], [ "Reserve adjustments, net", "1", "9" ], [ "Losses – loan repurchases and settlements", "(8)", "(2)" ], [ "Loan sales", "", "(24)" ], [ "December 31", "$47", "$54" ] ]

[ [ "in millions", "2011", "2010" ], [ "january 1", "$ 54", "$ 71" ], [ "reserve adjustments net", "1", "9" ], [ "losses 2013 loan repurchases and settlements", "-8 ( 8 )", "-2 ( 2 )" ], [ "loan sales", "", "-24 ( 24 )" ], [ "december 31", "$ 47", "$ 54" ] ]

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[ "a wholly-owned subsidiary of the company is a registered life insurance company that maintains separate account assets , representing segregated funds held for purposes of funding individual and group pension contracts , and equal and offsetting separate account liabilities .", "at decem - ber 31 , 2008 and 2007 , the level 3 separate account assets were approximately $ 4 and $ 12 , respectively .", "the changes in level 3 assets primarily relate to purchases , sales and gains/ ( losses ) .", "the net investment income and net gains and losses attributable to separate account assets accrue directly to the contract owner and are not reported as non-operating income ( expense ) on the consolidated statements of income .", "level 3 assets , which includes equity method investments or consolidated investments of real estate funds , private equity funds and funds of private equity funds are valued based upon valuations received from internal as well as third party fund managers .", "fair valuations at the underlying funds are based on a combination of methods which may include third-party independent appraisals and discounted cash flow techniques .", "direct investments in private equity companies held by funds of private equity funds are valued based on an assessment of each under - lying investment , incorporating evaluation of additional significant third party financing , changes in valuations of comparable peer companies and the business environment of the companies , among other factors .", "see note 2 for further detail on the fair value policies by the underlying funds .", "changes in level 3 assets measured at fair value on a recurring basis for the year ended december 31 , 2008 ." ]

[ "total net ( losses ) for the period included in earnings attributable to the change in unrealized gains or ( losses ) relating to assets still held at the reporting date $ ( 366 ) $ ( 17 ) realized and unrealized gains and losses recorded for level 3 assets are reported in non-operating income ( expense ) on the consolidated statements of income .", "non-controlling interest expense is recorded for consoli- dated investments to reflect the portion of gains and losses not attributable to the company .", "the company transfers assets in and/or out of level 3 as significant inputs , including performance attributes , used for the fair value measurement become observable .", "6 .", "variable interest entities in the normal course of business , the company is the manager of various types of sponsored investment vehicles , including collateralized debt obligations and sponsored investment funds , that may be considered vies .", "the company receives management fees or other incen- tive related fees for its services and may from time to time own equity or debt securities or enter into derivatives with the vehicles , each of which are considered variable inter- ests .", "the company engages in these variable interests principally to address client needs through the launch of such investment vehicles .", "the vies are primarily financed via capital contributed by equity and debt holders .", "the company 2019s involvement in financing the operations of the vies is limited to its equity interests , unfunded capital commitments for certain sponsored investment funds and its capital support agreements for two enhanced cash funds .", "the primary beneficiary of a vie is the party that absorbs a majority of the entity 2019s expected losses , receives a major - ity of the entity 2019s expected residual returns or both as a result of holding variable interests .", "in order to determine whether the company is the primary beneficiary of a vie , management must make significant estimates and assumptions of probable future cash flows and assign probabilities to different cash flow scenarios .", "assumptions made in such analyses include , but are not limited to , market prices of securities , market interest rates , poten- tial credit defaults on individual securities or default rates on a portfolio of securities , gain realization , liquidity or marketability of certain securities , discount rates and the probability of certain other outcomes .", "vies in which blackrock is the primary beneficiary at december 31 , 2008 , the company was the primary beneficiary of three vies , which resulted in consolidation of three sponsored investment funds ( including two cash management funds and one private equity fund of funds ) .", "creditors of the vies do not have recourse to the credit of the company .", "during 2008 , the company determined it became the primary beneficiary of two enhanced cash management funds as a result of concluding that under various cash 177528_txt_59_96:layout 1 3/26/09 10:32 pm page 73 ." ]

[ [ "", "Investments", "Other Assets" ], [ "December 31, 2007", "$1,240", "$—" ], [ "Realized and unrealized gains / (losses), net", "(409)", "(16)" ], [ "Purchases, sales, other settlements and issuances, net", "11", "2" ], [ "Net transfers in and/or out of Level 3", "(29)", "78" ], [ "December 31, 2008", "$813", "$64" ], [ "Total net (losses) for the period included in earnings attributable to the change in unrealized gains or (losses) relating to assets stillheld at the reporting date", "$(366)", "$(17)" ] ]

[ [ "", "investments", "other assets" ], [ "december 31 2007", "$ 1240", "$ 2014" ], [ "realized and unrealized gains / ( losses ) net", "-409 ( 409 )", "-16 ( 16 )" ], [ "purchases sales other settlements and issuances net", "11", "2" ], [ "net transfers in and/or out of level 3", "-29 ( 29 )", "78" ], [ "december 31 2008", "$ 813", "$ 64" ], [ "total net ( losses ) for the period included in earnings attributable to the change in unrealized gains or ( losses ) relating to assets stillheld at the reporting date", "$ -366 ( 366 )", "$ -17 ( 17 )" ] ]

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[ "management 2019s discussion and analysis of financial condition and results of operations ( continued ) detail with respect to our investment portfolio as of december 31 , 2014 and 2013 is provided in note 3 to the consolidated financial statements included under item 8 of this form 10-k .", "loans and leases averaged $ 15.91 billion for the year ended 2014 , up from $ 13.78 billion in 2013 .", "the increase was mainly related to mutual fund lending and our continued investment in senior secured bank loans .", "mutual fund lending and senior secured bank loans averaged approximately $ 9.12 billion and $ 1.40 billion , respectively , for the year ended december 31 , 2014 compared to $ 8.16 billion and $ 170 million for the year ended december 31 , 2013 , respectively .", "average loans and leases also include short- duration advances .", "table 13 : u.s .", "and non-u.s .", "short-duration advances years ended december 31 ." ]

[ "average u.s .", "short-duration advances $ 2355 $ 2356 $ 1972 average non-u.s .", "short-duration advances 1512 1393 1393 average total short-duration advances $ 3867 $ 3749 $ 3365 average short-durance advances to average loans and leases 24% ( 24 % ) 27% ( 27 % ) 29% ( 29 % ) the decline in proportion of the average daily short-duration advances to average loans and leases is primarily due to growth in the other segments of the loan and lease portfolio .", "short-duration advances provide liquidity to clients in support of their investment activities .", "although average short-duration advances for the year ended december 31 , 2014 increased compared to the year ended december 31 , 2013 , 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 $ 15.94 billion for the year ended december 31 , 2014 from $ 11.16 billion for the year ended december 31 , 2013 .", "the increased levels were primarily the result of higher levels of cash collateral provided in connection with our enhanced custody business .", "aggregate average interest-bearing deposits increased to $ 130.30 billion for the year ended december 31 , 2014 from $ 109.25 billion for year ended 2013 .", "the higher levels were primarily the result of increases in both u.s .", "and non-u.s .", "transaction accounts and time deposits .", "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 increased to $ 4.18 billion for the year ended december 31 , 2014 from $ 3.79 billion for the year ended 2013 .", "the increase was the result of a higher level of client demand for our commercial paper .", "the decline in rates paid from 1.6% ( 1.6 % ) in 2013 to 0.1% ( 0.1 % ) in 2014 resulted from a reclassification of certain derivative contracts that hedge our interest-rate risk on certain assets and liabilities , which reduced interest revenue and interest expense .", "average long-term debt increased to $ 9.31 billion for the year ended december 31 , 2014 from $ 8.42 billion for the year ended december 31 , 2013 .", "the increase primarily reflected the issuance of $ 1.5 billion of senior and subordinated debt in may 2013 , $ 1.0 billion of senior debt issued in november 2013 , and $ 1.0 billion of senior debt issued in december 2014 .", "this is partially offset by the maturities of $ 500 million of senior debt in may 2014 and $ 250 million of senior debt in march 2014 .", "average other interest-bearing liabilities increased to $ 7.35 billion for the year ended december 31 , 2014 from $ 6.46 billion for the year ended december 31 , 2013 , primarily the result of higher levels of cash collateral received from clients in connection with our enhanced custody business .", "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 , municipal 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 influence what effect our reinvestment program will have on future levels of our net interest revenue and net interest margin. ." ]

[ [ "(In millions)", "2014", "2013", "2012" ], [ "Average U.S. short-duration advances", "$2,355", "$2,356", "$1,972" ], [ "Average non-U.S. short-duration advances", "1,512", "1,393", "1,393" ], [ "Average total short-duration advances", "$3,867", "$3,749", "$3,365" ], [ "Average short-durance advances to average loans and leases", "24%", "27%", "29%" ] ]

[ [ "( in millions )", "2014", "2013", "2012" ], [ "average u.s . short-duration advances", "$ 2355", "$ 2356", "$ 1972" ], [ "average non-u.s . short-duration advances", "1512", "1393", "1393" ], [ "average total short-duration advances", "$ 3867", "$ 3749", "$ 3365" ], [ "average short-durance advances to average loans and leases", "24% ( 24 % )", "27% ( 27 % )", "29% ( 29 % )" ] ]

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[ "sl green realty corp .", "it happens here 2012 annual report 85 | 85 in april a02011 , we purchased sitq immobilier , a subsid- iary of caisse de depot et placement du quebec , or sitq 2019s , 31.5% ( 31.5 % ) economic interest in 1515 a0 broadway , thereby consoli- dating full ownership of the 1750000 a0square foot ( unaudited ) building .", "the transaction valued the consolidated interests at $ 1.23 a0 billion .", "this valuation was based on a negotiated sales agreement and took into consideration such factors as whether this was a distressed sale and whether a minority dis- count was warranted .", "we acquired the interest subject to the $ 458.8 a0million mortgage encumbering the property .", "we rec- ognized a purchase price fair value adjustment of $ 475.1 a0mil- lion upon the closing of this transaction .", "this property , which we initially acquired in may a02002 , was previously accounted for as an investment in unconsolidated joint ventures .", "in january a0 2011 , we purchased city investment fund , or cif 2019s , 49.9% ( 49.9 % ) a0interest in 521 a0fifth avenue , thereby assum- ing full ownership of the 460000 a0 square foot ( unaudited ) building .", "the transaction valued the consolidated interests at approximately $ 245.7 a0 million , excluding $ 4.5 a0 million of cash and other assets acquired .", "we acquired the interest subject to the $ 140.0 a0 million mortgage encumbering the property .", "we recognized a purchase price fair value adjust- ment of $ 13.8 a0million upon the closing of this transaction .", "in april a02011 , we refinanced the property with a new $ 150.0 a0mil- lion 2-year mortgage which carries a floating rate of interest of 200 a0basis points over the 30-day libor .", "in connection with that refinancing , we acquired the fee interest in the property for $ 15.0 a0million .", "the following summarizes our allocation of the purchase price of the assets acquired and liabilities assumed upon the closing of these 2011 acquisitions ( amounts in thousands ) : 51 east 180 110 east 1515 521 fifth 42nd street maiden lane 42nd street broadway avenue land fffd$ 44095 $ 191523 $ 34000 $ 2002 2008462700 $ 110100 ." ]

[ "net consideration funded by us at closing fffd$ 81632 $ 200281835 $ 20022744 $ 2002 2008259228 $ 200270000 equity and/or debt investment held fffd 2014 2014 $ 16000 $ 2002 2002 200840942 $ 200241432 debt assumed fffd$ 2002 2002 2002 2002 2008 2014 $ 2002 2002 2002 2002 2002 2008 2014 $ 65000 $ 2002 2008458767 $ 140000 2010 acquisitions | in january 2010 , we became the sole owner of 100 a0church street , a 1.05 a0million square foot ( unau- dited ) office tower located in downtown manhattan , following the successful foreclosure of the senior mezzanine loan at the property .", "our initial investment totaled $ 40.9 a0million , which was comprised of a 50% ( 50 % ) a0interest in the senior mezzanine loan and two other mezzanine loans at 100 a0 church street , which we acquired from gramercy capital corp .", "( nyse : a0gkk ) , or gramercy , in the summer of a0 2007 .", "at closing of the foreclo- sure , we funded an additional $ 15.0 a0million of capital into the project as part of our agreement with wachovia bank , n.a .", "to extend and restructure the existing financing .", "gramercy declined to fund its share of this capital and instead trans- ferred its interests in the investment to us at closing .", "the restructured $ 139.7 a0million mortgage carries an interest rate of 350 a0basis points over the 30-day libor .", "the restructured mortgage , which was scheduled to mature in january a0 2013 , was repaid in march a02011 .", "in august a0 2010 , we acquired 125 a0 park avenue , a manhattan office tower , for $ 330 a0million .", "in connection with the acquisition , we assumed $ 146.25 a0million of in-place financ- ing .", "the 5.748% ( 5.748 % ) interest-only loan matures in october a02014 .", "in december a02010 , we completed the acquisition of various investments from gramercy .", "this acquisition included ( 1 ) a0the remaining 45% ( 45 % ) a0interest in the leased fee at 885 a0third avenue for approximately $ 39.3 a0 million plus assumed mortgage debt of approximately $ 120.4 a0million , ( 2 ) a0the remaining 45% ( 45 % ) interest in the leased fee at 2 a0 herald square for approxi- mately $ 25.6 a0 million plus assumed mortgage debt of approximately $ 86.1 a0 million and , ( 3 ) a0 the entire leased fee interest in 292 a0madison avenue for approximately $ 19.2 a0mil- lion plus assumed mortgage debt of approximately $ 59.1 a0million .", "these assets are all leased to third a0party operators. ." ]

[ [ "", "51 East 42^nd Street", "180 Maiden Lane", "110 East 42^nd Street", "1515 Broadway", "521 Fifth Avenue" ], [ "Land", "$44,095", "$191,523", "$34,000", "$462,700", "$110,100" ], [ "Building", "33,470", "233,230", "46,411", "707,938", "146,686" ], [ "Above market lease value", "5,616", "7,944", "823", "18,298", "3,318" ], [ "Acquired in-place leases", "4,333", "29,948", "5,396", "98,661", "23,016" ], [ "Other assets, net of other liabilities", "—", "—", "—", "27,127", "—" ], [ "Assets acquired", "87,514", "462,645", "86,630", "1,314,724", "283,120" ], [ "Fair value adjustment to mortgage note payable", "—", "—", "—", "(3,693)", "—" ], [ "Below market lease value", "7,514", "20,320", "2,326", "84,417", "25,977" ], [ "Liabilities assumed", "7,514", "20,320", "2,326", "80,724", "25,977" ], [ "Purchase price allocation", "$80,000", "$442,325", "$84,304", "$1,234,000", "$257,143" ], [ "Net consideration funded by us at closing", "$81,632", "$81,835", "$2,744", "$259,228", "$70,000" ], [ "Equity and/or debt investment held", "—", "—", "$16,000", "$40,942", "$41,432" ], [ "Debt assumed", "$—", "$—", "$65,000", "$458,767", "$140,000" ] ]

[ [ "", "51 east 42nd street", "180 maiden lane", "110 east 42nd street", "1515 broadway", "521 fifth avenue" ], [ "land", "$ 44095", "$ 191523", "$ 34000", "$ 462700", "$ 110100" ], [ "building", "33470", "233230", "46411", "707938", "146686" ], [ "above market lease value", "5616", "7944", "823", "18298", "3318" ], [ "acquired in-place leases", "4333", "29948", "5396", "98661", "23016" ], [ "other assets net of other liabilities", "2014", "2014", "2014", "27127", "2014" ], [ "assets acquired", "87514", "462645", "86630", "1314724", "283120" ], [ "fair value adjustment to mortgage note payable", "2014", "2014", "2014", "-3693 ( 3693 )", "2014" ], [ "below market lease value", "7514", "20320", "2326", "84417", "25977" ], [ "liabilities assumed", "7514", "20320", "2326", "80724", "25977" ], [ "purchase price allocation", "$ 80000", "$ 442325", "$ 84304", "$ 1234000", "$ 257143" ], [ "net consideration funded by us at closing", "$ 81632", "$ 81835", "$ 2744", "$ 259228", "$ 70000" ], [ "equity and/or debt investment held", "2014", "2014", "$ 16000", "$ 40942", "$ 41432" ], [ "debt assumed", "$ 2014", "$ 2014", "$ 65000", "$ 458767", "$ 140000" ] ]

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[ "portion of the death benefits directly from the insurance company and the company receives the remainder of the death benefits .", "it is currently expected that minimal cash payments will be required to fund these policies .", "the net periodic pension cost for these split-dollar life insurance arrangements was $ 5 million for the years ended december 31 , 2013 , 2012 and 2011 .", "the company has recorded a liability representing the actuarial present value of the future death benefits as of the employees 2019 expected retirement date of $ 51 million and $ 58 million as of december 31 , 2013 and december 31 , 2012 , respectively .", "deferred compensation plan the company amended and reinstated its deferred compensation plan ( 201cthe plan 201d ) effective june 1 , 2013 to reopen the plan to certain participants .", "under the plan , participating executives may elect to defer base salary and cash incentive compensation in excess of 401 ( k ) plan limitations .", "participants under the plan may choose to invest their deferred amounts in the same investment alternatives available under the company's 401 ( k ) plan .", "the plan also allows for company matching contributions for the following : ( i ) the first 4% ( 4 % ) of compensation deferred under the plan , subject to a maximum of $ 50000 for board officers , ( ii ) lost matching amounts that would have been made under the 401 ( k ) plan if participants had not participated in the plan , and ( iii ) discretionary amounts as approved by the compensation and leadership committee of the board of directors .", "defined contribution plan the company and certain subsidiaries have various defined contribution plans , in which all eligible employees may participate .", "in the u.s. , the 401 ( k ) plan is a contributory plan .", "matching contributions are based upon the amount of the employees 2019 contributions .", "the company 2019s expenses for material defined contribution plans for the years ended december 31 , 2013 , 2012 and 2011 were $ 44 million , $ 42 million and $ 48 million , respectively .", "beginning january 1 , 2012 , the company may make an additional discretionary 401 ( k ) plan matching contribution to eligible employees .", "for the years ended december 31 , 2013 and 2012 , the company made no discretionary matching contributions .", "8 .", "share-based compensation plans and other incentive plans stock options , stock appreciation rights and employee stock purchase plan the company grants options to acquire shares of common stock to certain employees and to existing option holders of acquired companies in connection with the merging of option plans following an acquisition .", "each option granted and stock appreciation right has an exercise price of no less than 100% ( 100 % ) of the fair market value of the common stock on the date of the grant .", "the awards have a contractual life of five to fifteen years and vest over two to four years .", "stock options and stock appreciation rights assumed or replaced with comparable stock options or stock appreciation rights in conjunction with a change in control of the company only become exercisable if the holder is also involuntarily terminated ( for a reason other than cause ) or quits for good reason within 24 months of a change in control .", "the employee stock purchase plan allows eligible participants to purchase shares of the company 2019s common stock through payroll deductions of up to 20% ( 20 % ) of eligible compensation on an after-tax basis .", "plan participants cannot purchase more than $ 25000 of stock in any calendar year .", "the price an employee pays per share is 85% ( 85 % ) of the lower of the fair market value of the company 2019s stock on the close of the first trading day or last trading day of the purchase period .", "the plan has two purchase periods , the first from october 1 through march 31 and the second from april 1 through september 30 .", "for the years ended december 31 , 2013 , 2012 and 2011 , employees purchased 1.5 million , 1.4 million and 2.2 million shares , respectively , at purchase prices of $ 43.02 and $ 50.47 , $ 34.52 and $ 42.96 , and $ 30.56 and $ 35.61 , respectively .", "the company calculates the value of each employee stock option , estimated on the date of grant , using the black-scholes option pricing model .", "the weighted-average estimated fair value of employee stock options granted during 2013 , 2012 and 2011 was $ 9.52 , $ 9.60 and $ 13.25 , respectively , using the following weighted-average assumptions: ." ]

[ "the company uses the implied volatility for traded options on the company 2019s stock as the expected volatility assumption required in the black-scholes model .", "the selection of the implied volatility approach was based upon the availability of ." ]

[ [ "", "2013", "2012", "2011" ], [ "Expected volatility", "22.1%", "24.0%", "28.8%" ], [ "Risk-free interest rate", "0.9%", "0.8%", "2.1%" ], [ "Dividend yield", "2.4%", "2.2%", "0.0%" ], [ "Expected life (years)", "5.9", "6.1", "6.0" ] ]

[ [ "", "2013", "2012", "2011" ], [ "expected volatility", "22.1% ( 22.1 % )", "24.0% ( 24.0 % )", "28.8% ( 28.8 % )" ], [ "risk-free interest rate", "0.9% ( 0.9 % )", "0.8% ( 0.8 % )", "2.1% ( 2.1 % )" ], [ "dividend yield", "2.4% ( 2.4 % )", "2.2% ( 2.2 % )", "0.0% ( 0.0 % )" ], [ "expected life ( years )", "5.9", "6.1", "6.0" ] ]

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[ "have access to liquidity by issuing bonds to public or private investors based on our assessment of the current condition of the credit markets .", "at december 31 , 2009 , we had a working capital surplus of approximately $ 1.0 billion , which reflects our decision to maintain additional cash reserves to enhance liquidity in response to difficult economic conditions .", "at december 31 , 2008 , we had a working capital deficit of approximately $ 100 million .", "historically , we have had a working capital deficit , which is common in our industry and does not indicate a lack of liquidity .", "we maintain adequate resources and , when necessary , have access to capital to meet any daily and short-term cash requirements , and we have sufficient financial capacity to satisfy our current liabilities .", "cash flows millions of dollars 2009 2008 2007 ." ]

[ "operating activities lower net income in 2009 , a reduction of $ 184 million in the outstanding balance of our accounts receivable securitization program , higher pension contributions of $ 72 million , and changes to working capital combined to decrease cash provided by operating activities compared to 2008 .", "higher net income and changes in working capital combined to increase cash provided by operating activities in 2008 compared to 2007 .", "in addition , accelerated tax deductions enacted in 2008 on certain new operating assets resulted in lower income tax payments in 2008 versus 2007 .", "voluntary pension contributions in 2008 totaling $ 200 million and other pension contributions of $ 8 million partially offset the year-over-year increase versus 2007 .", "investing activities lower capital investments and higher proceeds from asset sales drove the decrease in cash used in investing activities in 2009 versus 2008 .", "increased capital investments and lower proceeds from asset sales drove the increase in cash used in investing activities in 2008 compared to 2007. ." ]

[ [ "<i>Millions of Dollars</i>", "<i>2009</i>", "2008", "2007" ], [ "Cash provided by operating activities", "$3,234", "$4,070", "$3,277" ], [ "Cash used in investing activities", "(2,175)", "(2,764)", "(2,426)" ], [ "Cash used in financing activities", "(458)", "(935)", "(800)" ], [ "Net change in cash and cash equivalents", "$601", "$371", "$51" ] ]

[ [ "millions of dollars", "2009", "2008", "2007" ], [ "cash provided by operating activities", "$ 3234", "$ 4070", "$ 3277" ], [ "cash used in investing activities", "-2175 ( 2175 )", "-2764 ( 2764 )", "-2426 ( 2426 )" ], [ "cash used in financing activities", "-458 ( 458 )", "-935 ( 935 )", "-800 ( 800 )" ], [ "net change in cash and cash equivalents", "$ 601", "$ 371", "$ 51" ] ]

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[ "increased over 4% ( 4 % ) in 2005 , costs for trucking services provided by intermodal carriers remained flat as we substantially reduced expenses associated with network inefficiencies .", "higher diesel fuel prices increased sales and use taxes in 2005 , which resulted in higher state and local taxes .", "other contract expenses for equipment maintenance and other services increased in 2005 .", "the 2005 january west coast storm and hurricanes katrina and rita also contributed to higher expenses in 2005 ( net of insurance settlements received ) .", "partially offsetting these increases was a reduction in relocation expenses as we incurred higher relocation costs associated with moving support personnel to omaha , nebraska during 2004 .", "non-operating items millions of dollars 2006 2005 2004 % ( % ) change 2006 v 2005 % ( % ) change 2005 v 2004 ." ]

[ "other income 2013 lower net gains from non-operating asset sales and higher expenses due to rising interest rates associated with our sale of receivables program resulted in a reduction in other income in 2006 , which was partially offset by higher rental income for the use of our right-of-way ( including 2006 settlements of rate disputes from prior years ) and cash investment returns due to higher interest rates .", "in 2005 , other income increased largely as a result of higher gains from real estate sales partially offset by higher expenses due to rising interest rates associated with our sale of receivables program .", "interest expense 2013 lower interest expense in 2006 and 2005 was primarily due to declining weighted-average debt levels of $ 7.1 billion , $ 7.8 billion , and $ 8.1 billion in 2006 , 2005 , and 2004 , respectively .", "a higher effective interest rate of 6.7% ( 6.7 % ) in 2006 , compared to 6.5% ( 6.5 % ) in both 2005 and 2004 , partially offset the effects of the declining debt level .", "income taxes 2013 income tax expense was $ 509 million higher in 2006 than 2005 .", "higher pre-tax income resulted in additional taxes of $ 414 million and $ 118 million of the increase resulted from the one-time reduction in 2005 described below .", "our effective tax rate was 36.4% ( 36.4 % ) and 28.6% ( 28.6 % ) in 2006 and 2005 , respectively .", "income taxes were greater in 2005 than 2004 due to higher pre-tax income partially offset by a previously reported reduction in income tax expense .", "in our quarterly report on form 10-q for the quarter ended june 30 , 2005 , we reported that the corporation analyzed the impact that final settlements of pre-1995 tax years had on previously recorded estimates of deferred tax assets and liabilities .", "the completed analysis of the final settlements for pre-1995 tax years , along with internal revenue service examination reports for tax years 1995 through 2002 were considered , among other things , in a review and re-evaluation of the corporation 2019s estimated deferred tax assets and liabilities as of september 30 , 2005 , resulting in an income tax expense reduction of $ 118 million in ." ]

[ [ "<i>Millions of Dollars</i>", "2006", "2005", "2004", "% Change 2006 v 2005", "% Change 2005 v 2004" ], [ "Other income", "$118", "$145", "$88", "(19)%", "65%" ], [ "Interest expense", "(477)", "(504)", "(527)", "(5)", "(4)" ], [ "Income taxes", "(919)", "(410)", "(252)", "124", "63" ] ]

[ [ "millions of dollars", "2006", "2005", "2004", "% ( % ) change 2006 v 2005", "% ( % ) change 2005 v 2004" ], [ "other income", "$ 118", "$ 145", "$ 88", "( 19 ) % ( % )", "65% ( 65 % )" ], [ "interest expense", "-477 ( 477 )", "-504 ( 504 )", "-527 ( 527 )", "-5 ( 5 )", "-4 ( 4 )" ], [ "income taxes", "-919 ( 919 )", "-410 ( 410 )", "-252 ( 252 )", "124", "63" ] ]

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[ "morgan stanley notes to consolidated financial statements 2014 ( continued ) lending commitments .", "primary lending commitments are those that are originated by the company whereas secondary lending commitments are purchased from third parties in the market .", "the commitments include lending commitments that are made to investment grade and non-investment grade companies in connection with corporate lending and other business activities .", "commitments for secured lending transactions .", "secured lending commitments are extended by the company to companies and are secured by real estate or other physical assets of the borrower .", "loans made under these arrangements typically are at variable rates and generally provide for over-collateralization based upon the creditworthiness of the borrower .", "forward starting reverse repurchase agreements .", "the company has entered into forward starting securities purchased under agreements to resell ( agreements that have a trade date at or prior to december 31 , 2013 and settle subsequent to period-end ) that are primarily secured by collateral from u.s .", "government agency securities and other sovereign government obligations .", "commercial and residential mortgage-related commitments .", "the company enters into forward purchase contracts involving residential mortgage loans , residential mortgage lending commitments to individuals and residential home equity lines of credit .", "in addition , the company enters into commitments to originate commercial and residential mortgage loans .", "underwriting commitments .", "the company provides underwriting commitments in connection with its capital raising sources to a diverse group of corporate and other institutional clients .", "other lending commitments .", "other commitments generally include commercial lending commitments to small businesses and commitments related to securities-based lending activities in connection with the company 2019s wealth management business segment .", "the company sponsors several non-consolidated investment funds for third-party investors where the company typically acts as general partner of , and investment advisor to , these funds and typically commits to invest a minority of the capital of such funds , with subscribing third-party investors contributing the majority .", "the company 2019s employees , including its senior officers , as well as the company 2019s directors , may participate on the same terms and conditions as other investors in certain of these funds that the company forms primarily for client investment , except that the company may waive or lower applicable fees and charges for its employees .", "the company has contractual capital commitments , guarantees , lending facilities and counterparty arrangements with respect to these investment funds .", "premises and equipment .", "the company has non-cancelable operating leases covering premises and equipment ( excluding commodities operating leases , shown separately ) .", "at december 31 , 2013 , future minimum rental commitments under such leases ( net of subleases , principally on office rentals ) were as follows ( dollars in millions ) : year ended operating premises leases ." ]

[ "." ]

[ [ "Year Ended", "Operating Premises Leases" ], [ "2014", "$672" ], [ "2015", "656" ], [ "2016", "621" ], [ "2017", "554" ], [ "2018", "481" ], [ "Thereafter", "2,712" ] ]

[ [ "year ended", "operating premises leases" ], [ "2014", "$ 672" ], [ "2015", "656" ], [ "2016", "621" ], [ "2017", "554" ], [ "2018", "481" ], [ "thereafter", "2712" ] ]

[]

[ "american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 7 .", "derivative financial instruments under the terms of the credit facility , the company is required to enter into interest rate protection agreements on at least 50% ( 50 % ) of its variable rate debt .", "under these agreements , the company is exposed to credit risk to the extent that a counterparty fails to meet the terms of a contract .", "such exposure is limited to the current value of the contract at the time the counterparty fails to perform .", "the company believes its contracts as of december 31 , 2004 are with credit worthy institutions .", "as of december 31 , 2004 , the company had two interest rate caps outstanding with an aggregate notional amount of $ 350.0 million ( each at an interest rate of 6.0% ( 6.0 % ) ) that expire in 2006 .", "as of december 31 , 2003 , the company had three interest rate caps outstanding with an aggregate notional amount of $ 500.0 million ( each at a rate of 5.0% ( 5.0 % ) ) that expired in 2004 .", "as of december 31 , 2004 and 2003 , there was no fair value associated with any of these interest rate caps .", "during the year ended december 31 , 2003 , the company recorded an unrealized loss of approximately $ 0.3 million ( net of a tax benefit of approximately $ 0.2 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 5.9 million ( net of a tax benefit of approximately $ 3.2 million ) into results of operations .", "during the year ended december 31 , 2002 , the company recorded an unrealized loss of approximately $ 9.1 million ( net of a tax benefit of approximately $ 4.9 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 19.5 million ( net of a tax benefit of approximately $ 10.5 million ) into results of operations .", "hedge ineffectiveness resulted in a gain of approximately $ 1.0 million for the year ended december 31 , 2002 , which is recorded in other expense in the accompanying consolidated statement of operations .", "the company records the changes in fair value of its derivative instruments that are not accounted for as hedges in other expense .", "the company did not reclassify any derivative losses into its statement of operations for the year ended december 31 , 2004 and does not anticipate reclassifying any derivative losses into its statement of operations within the next twelve months , as there are no amounts included in other comprehensive loss as of december 31 , 2004 .", "8 .", "commitments and contingencies lease obligations 2014the company leases certain land , office and tower space under operating leases that expire over various terms .", "many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option .", "escalation clauses present in operating leases , excluding those tied to cpi or other inflation-based indices , are straight-lined over the term of the lease .", "( see note 1. ) future minimum rental payments under non-cancelable operating leases include payments for certain renewal periods at the company 2019s option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases , thereby making it reasonably assured that the company will renew the lease .", "such payments in effect at december 31 , 2004 are as follows ( in thousands ) : year ending december 31 ." ]

[ "aggregate rent expense ( including the effect of straight-line rent expense ) under operating leases for the years ended december 31 , 2004 , 2003 and 2002 approximated $ 118741000 , $ 113956000 , and $ 109644000 , respectively. ." ]

[ [ "2005", "$106,116" ], [ "2006", "106,319" ], [ "2007", "106,095" ], [ "2008", "106,191" ], [ "2009", "106,214" ], [ "Thereafter", "1,570,111" ], [ "Total", "$2,101,046" ] ]

[ [ "2005", "$ 106116" ], [ "2006", "106319" ], [ "2007", "106095" ], [ "2008", "106191" ], [ "2009", "106214" ], [ "thereafter", "1570111" ], [ "total", "$ 2101046" ] ]

[ { "arg1": "113956000", "arg2": "109644000", "op": "minus2-1", "res": "4312000" }, { "arg1": "#0", "arg2": "109644000", "op": "divide2-2", "res": "3.9%" } ]

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

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

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

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

[]

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

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

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

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

[ { "arg1": "51.51", "arg2": "100", "op": "minus1-1", "res": "-48.49" }, { "arg1": "#0", "arg2": "100", "op": "divide1-2", "res": "-48.49%" } ]

[ "input costs for board and resin are expected to be flat and operating costs are expected to decrease .", "european consumer packaging net sales in 2013 were $ 380 million compared with $ 380 million in 2012 and $ 375 million in 2011 .", "operating profits in 2013 were $ 100 million compared with $ 99 million in 2012 and $ 93 million in 2011 .", "sales volumes in 2013 decreased from 2012 in both the european and russian markets .", "average sales price realizations were significantly higher in the russian market , but were lower in europe .", "input costs were flat year-over-year .", "planned maintenance downtime costs were higher in 2013 than in 2012 .", "looking forward to the first quarter of 2014 , sales volumes compared with the fourth quarter of 2013 are expected to be about flat .", "average sales price realizations are expected to be higher in both russia and europe .", "input costs are expected to increase for wood and energy , but decrease for purchased pulp .", "there are no maintenance outages scheduled for the first quarter , however the kwidzyn mill will have additional costs associated with the rebuild of a coated board machine .", "asian consumer packaging net sales were $ 1.1 billion in 2013 compared with $ 830 million in 2012 and $ 855 million in 2011 .", "operating profits in 2013 were a loss of $ 2 million compared with gains of $ 4 million in 2012 and $ 35 million in 2011 .", "sales volumes increased in 2013 compared with 2012 , reflecting the ramp-up of a new coated paperboard machine installed in 2012 .", "however , average sales price realizations were significantly lower , reflecting competitive pressure on sales prices which squeezed margins and created an unfavorable product mix .", "lower input costs were offset by higher freight costs .", "in 2012 , start-up costs for the new coated paperboard machine adversely impacted operating profits .", "in the first quarter of 2014 , sales volumes are expected to increase slightly .", "average sales price realizations are expected to be flat reflecting continuing competitive pressures .", "input costs are expected be higher for pulp , energy and chemicals .", "the business will drive margin improvement through operational excellence and better distribution xpedx , our distribution business , is one of north america 2019s leading business-to-business distributors to manufacturers , facility managers and printers , providing customized solutions that are designed to improve efficiency , reduce costs and deliver results .", "customer demand is generally sensitive to changes in economic conditions and consumer behavior , along with segment specific activity including corporate advertising and promotional spending , government spending and domestic manufacturing activity .", "distribution 2019s margins are relatively stable across an economic cycle .", "providing customers with the best choice for value in both products and supply chain services is a key competitive factor .", "additionally , efficient customer service , cost-effective logistics and focused working capital management are key factors in this segment 2019s profitability .", "distribution ." ]

[ "distribution 2019s 2013 annual sales decreased 6% ( 6 % ) from 2012 , and decreased 15% ( 15 % ) from 2011 .", "operating profits in 2013 were a loss of $ 389 million ( a gain of $ 43 million excluding goodwill impairment charges and reorganization costs ) compared with $ 22 million ( $ 71 million excluding reorganization costs ) in 2012 and $ 34 million ( $ 86 million excluding reorganization costs ) in annual sales of printing papers and graphic arts supplies and equipment totaled $ 3.2 billion in 2013 compared with $ 3.5 billion in 2012 and $ 4.0 billion in 2011 reflecting declining demand and the discontinuation of a distribution agreement with a large manufacturer of graphic supplies .", "trade margins as a percent of sales for printing papers were down from both 2012 and 2011 .", "revenue from packaging products was flat at $ 1.6 billion in 2013 , 2012 and 2011 despite the significant decline of a large high-tech customer's business .", "packaging margins remained flat to the 2012 level , and up from 2011 .", "facility supplies annual revenue was $ 845 million in 2013 , down from $ 944 million in 2012 and $ 981 million in 2011 .", "operating profits in 2013 included a goodwill impairment charge of $ 400 million and reorganization costs for severance , professional services and asset write-downs of $ 32 million .", "operating profits in 2012 and 2011 included reorganization costs of $ 49 million and $ 52 million , respectively .", "looking ahead to the 2014 first quarter , operating profits will be seasonally lower , but will continue to reflect the benefits of strategic and other cost reduction initiatives. ." ]

[ [ "In millions", "2013", "2012", "2011" ], [ "Sales", "$5,650", "$6,040", "$6,630" ], [ "Operating Profit", "(389)", "22", "34" ] ]

[ [ "in millions", "2013", "2012", "2011" ], [ "sales", "$ 5650", "$ 6040", "$ 6630" ], [ "operating profit", "-389 ( 389 )", "22", "34" ] ]

[ { "arg1": "1.1", "arg2": "830", "op": "minus1-1", "res": "270" }, { "arg1": "#0", "arg2": "830", "op": "divide1-2", "res": "32.5%" } ]

[ "shareholder return performance the line graph below compares the annual percentage change in ball corporation fffds cumulative total shareholder return on its common stock with the cumulative total return of the dow jones containers & packaging index and the s&p composite 500 stock index for the five-year period ended december 31 , 2011 .", "it assumes $ 100 was invested on december 31 , 2006 , and that all dividends were reinvested .", "the dow jones containers & packaging index total return has been weighted by market capitalization .", "total return to stockholders ( assumes $ 100 investment on 12/31/06 ) total return analysis ." ]

[ "copyright a9 2012 standard & poor fffds , a division of the mcgraw-hill companies inc .", "all rights reserved .", "( www.researchdatagroup.com/s&p.htm ) copyright a9 2012 dow jones & company .", "all rights reserved. ." ]

[ [ "", "12/31/2006", "12/31/2007", "12/31/2008", "12/31/2009", "12/31/2010", "12/31/2011" ], [ "Ball Corporation", "$100.00", "$104.05", "$97.04", "$121.73", "$161.39", "$170.70" ], [ "DJ US Containers & Packaging", "$100.00", "$106.73", "$66.91", "$93.98", "$110.23", "$110.39" ], [ "S&P 500", "$100.00", "$105.49", "$66.46", "$84.05", "$96.71", "$98.75" ] ]

[ [ "", "12/31/2006", "12/31/2007", "12/31/2008", "12/31/2009", "12/31/2010", "12/31/2011" ], [ "ball corporation", "$ 100.00", "$ 104.05", "$ 97.04", "$ 121.73", "$ 161.39", "$ 170.70" ], [ "dj us containers & packaging", "$ 100.00", "$ 106.73", "$ 66.91", "$ 93.98", "$ 110.23", "$ 110.39" ], [ "s&p 500", "$ 100.00", "$ 105.49", "$ 66.46", "$ 84.05", "$ 96.71", "$ 98.75" ] ]

[]

[ "management 2019s discussion and analysis of financial condition and results of operations ( continued ) the npr is generally consistent with the basel committee 2019s lcr .", "however , it includes certain more stringent requirements , including an accelerated implementation time line and modifications to the definition of high-quality liquid assets and expected outflow assumptions .", "we continue to analyze the proposed rules and analyze their impact as well as develop strategies for compliance .", "the principles of the lcr are consistent with our liquidity management framework ; however , the specific calibrations of various elements within the final lcr rule , such as the eligibility of assets as hqla , operational deposit requirements and net outflow requirements could have a material effect on our liquidity , funding and business activities , including the management and composition of our investment securities portfolio and our ability to extend committed contingent credit facilities to our clients .", "in january 2014 , the basel committee released a revised proposal with respect to the net stable funding ratio , or nsfr , which will establish a one-year liquidity standard representing the proportion of long-term assets funded by long-term stable funding , scheduled for global implementation in 2018 .", "the revised nsfr has made some favorable changes regarding the treatment of operationally linked deposits and a reduction in the funding required for certain securities .", "however , we continue to review the specifics of the basel committee's release and will be evaluating the u.s .", "implementation of this standard to analyze the impact and develop strategies for compliance .", "u.s .", "banking regulators have not yet issued a proposal to implement the nsfr .", "contractual cash obligations and other commitments the following table presents our long-term contractual cash obligations , in total and by period due as of december 31 , 2013 .", "these obligations were recorded in our consolidated statement of condition as of that date , except for operating leases and the interest portions of long-term debt and capital leases .", "contractual cash obligations ." ]

[ "( 1 ) long-term debt excludes capital lease obligations ( presented as a separate line item ) and the effect of interest-rate swaps .", "interest payments were calculated at the stated rate with the exception of floating-rate debt , for which payments were calculated using the indexed rate in effect as of december 31 , 2013 .", "the table above does not include obligations which will be settled in cash , primarily in less than one year , such as client deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings .", "additional information about deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings is provided in notes 8 and 9 to the consolidated financial statements included under item 8 of this form 10-k .", "the table does not include obligations related to derivative instruments because the derivative-related amounts recorded in our consolidated statement of condition as of december 31 , 2013 did not represent the amounts that may ultimately be paid under the contracts upon settlement .", "additional information about our derivative instruments is provided in note 16 to the consolidated financial statements included under item 8 of this form 10-k .", "we have obligations under pension and other post-retirement benefit plans , more fully described in note 19 to the consolidated financial statements included under item 8 of this form 10-k , which are not included in the above table .", "additional information about contractual cash obligations related to long-term debt and operating and capital leases is provided in notes 10 and 20 to the consolidated financial statements included under item 8 of this form 10-k .", "our consolidated statement of cash flows , also included under item 8 of this form 10-k , provides additional liquidity information .", "the following table presents our commitments , other than the contractual cash obligations presented above , in total and by duration as of december 31 , 2013 .", "these commitments were not recorded in our consolidated statement of condition as of that date. ." ]

[ [ "", "PAYMENTS DUE BY PERIOD" ], [ "As of December 31, 2013(In millions)", "Total", "Less than 1year", "1-3years", "4-5years", "Over 5years" ], [ "Long-term debt⁽¹⁾", "$10,630", "$1,015", "$2,979", "$2,260", "$4,376" ], [ "Operating leases", "923", "208", "286", "209", "220" ], [ "Capital lease obligations", "1,051", "99", "185", "169", "598" ], [ "Total contractual cash obligations", "$12,604", "$1,322", "$3,450", "$2,638", "$5,194" ] ]

[ [ "as of december 31 2013 ( in millions )", "payments due by period total", "payments due by period less than 1year", "payments due by period 1-3years", "payments due by period 4-5years", "payments due by period over 5years" ], [ "long-term debt ( 1 )", "$ 10630", "$ 1015", "$ 2979", "$ 2260", "$ 4376" ], [ "operating leases", "923", "208", "286", "209", "220" ], [ "capital lease obligations", "1051", "99", "185", "169", "598" ], [ "total contractual cash obligations", "$ 12604", "$ 1322", "$ 3450", "$ 2638", "$ 5194" ] ]

[ { "arg1": "923", "arg2": "1051", "op": "add2-1", "res": "1974" }, { "arg1": "1051", "arg2": "#0", "op": "divide2-2", "res": "53.2%" } ]

[ "item 1a .", "risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities .", "if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly .", "risks relating to our business fluctuations in the financial markets could result in investment losses .", "prolonged and severe disruptions in the overall public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio .", "although financial markets have significantly improved since 2008 , they could deteriorate in the future .", "there could also be disruption in individual market sectors , such as occurred in the energy sector in recent years .", "such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings .", "our results could be adversely affected by catastrophic events .", "we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism .", "any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations .", "by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of reinsurance , were as follows: ." ]

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

[ [ "Calendar year:", "Pre-tax catastrophe losses" ], [ "(Dollars in millions)", "" ], [ "2017", "$1,472.6" ], [ "2016", "301.2" ], [ "2015", "53.8" ], [ "2014", "56.3" ], [ "2013", "194.0" ] ]

[ [ "calendar year:", "pre-tax catastrophe losses" ], [ "( dollars in millions )", "" ], [ "2017", "$ 1472.6" ], [ "2016", "301.2" ], [ "2015", "53.8" ], [ "2014", "56.3" ], [ "2013", "194.0" ] ]

[ { "arg1": "1472.6", "arg2": "301.2", "op": "add2-1", "res": "1773.8" }, { "arg1": "#0", "arg2": "53.8", "op": "add2-2", "res": "1827.6" } ]

[ "the diluted earnings per share calculation excludes stock options , sars , restricted stock and units and performance units and stock that were anti-dilutive .", "shares underlying the excluded stock options and sars totaled 2.6 million , 10.3 million and 10.2 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .", "for the year ended december 31 , 2016 , 4.5 million shares of restricted stock and restricted stock units and performance units and performance stock were excluded .", "10 .", "supplemental cash flow information net cash paid for interest and income taxes was as follows for the years ended december 31 , 2017 , 2016 and 2015 ( in thousands ) : ." ]

[ "eog's accrued capital expenditures at december 31 , 2017 , 2016 and 2015 were $ 475 million , $ 388 million and $ 416 million , respectively .", "non-cash investing activities for the year ended december 31 , 2017 included non-cash additions of $ 282 million to eog's oil and gas properties as a result of property exchanges .", "non-cash investing activities for the year ended december 31 , 2016 included $ 3834 million in non-cash additions to eog's oil and gas properties related to the yates transaction ( see note 17 ) .", "11 .", "business segment information eog's operations are all crude oil and natural gas exploration and production related .", "the segment reporting topic of the asc establishes standards for reporting information about operating segments in annual financial statements .", "operating segments are defined as components of an enterprise about which separate financial information is available and evaluated regularly by the chief operating decision maker , or decision-making group , in deciding how to allocate resources and in assessing performance .", "eog's chief operating decision-making process is informal and involves the chairman of the board and chief executive officer and other key officers .", "this group routinely reviews and makes operating decisions related to significant issues associated with each of eog's major producing areas in the united states , trinidad , the united kingdom and china .", "for segment reporting purposes , the chief operating decision maker considers the major united states producing areas to be one operating segment. ." ]

[ [ "", "2017", "2016", "2015" ], [ "Interest, Net of Capitalized Interest", "$275,305", "$252,030", "$222,088" ], [ "Income Taxes, Net of Refunds Received", "$188,946", "$(39,293)", "$41,108" ] ]

[ [ "", "2017", "2016", "2015" ], [ "interest net of capitalized interest", "$ 275305", "$ 252030", "$ 222088" ], [ "income taxes net of refunds received", "$ 188946", "$ -39293 ( 39293 )", "$ 41108" ] ]

[ { "arg1": "475", "arg2": "388", "op": "divide2-1", "res": "1.2242" }, { "arg1": "#0", "arg2": "const_1", "op": "minus2-2", "res": "22.42%" } ]

[ "company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s .", "technology index .", "the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s .", "technology index on september 30 , 2006 .", "data points on the graph are annual .", "note that historic stock price performance is not necessarily indicative of future stock price performance .", "comparison of 5 year cumulative total return* among apple inc. , the s&p 500 index , the s&p computer hardware index and the dow jones us technology index sep-10sep-09sep-08sep-07sep-06 sep-11 apple inc .", "s&p 500 s&p computer hardware dow jones us technology *$ 100 invested on 9/30/06 in stock or index , including reinvestment of dividends .", "fiscal year ending september 30 .", "copyright a9 2011 s&p , a division of the mcgraw-hill companies inc .", "all rights reserved .", "copyright a9 2011 dow jones & co .", "all rights reserved .", "september 30 , september 30 , september 30 , september 30 , september 30 , september 30 ." ]

[ "." ]

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

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

[ { "arg1": "495", "arg2": "100", "op": "minus1-1", "res": "395" }, { "arg1": "#0", "arg2": "100", "op": "divide1-2", "res": "395%" } ]

[ "notes to consolidated financial statements at december 31 , 2007 , future minimum rental payments required under operating leases for continuing operations that have initial or remaining noncancelable lease terms in excess of one year , net of sublease rental income , most of which pertain to real estate leases , are as follows : ( millions ) ." ]

[ "aon corporation ." ]

[ [ "2008", "$317" ], [ "2009", "275" ], [ "2010", "236" ], [ "2011", "214" ], [ "2012", "191" ], [ "Later years", "597" ], [ "Total minimum payments required", "$1,830" ] ]

[ [ "2008", "$ 317" ], [ "2009", "275" ], [ "2010", "236" ], [ "2011", "214" ], [ "2012", "191" ], [ "later years", "597" ], [ "total minimum payments required", "$ 1830" ] ]

[]

[ "2022 through the u.s .", "attorney 2019s office for the district of maryland , the office of the inspector general ( 201coig 201d ) for the small business administration ( 201csba 201d ) has served a subpoena on pnc requesting documents concerning pnc 2019s relationship with , including sba-guaranteed loans made through , a broker named jade capital investments , llc ( 201cjade 201d ) , as well as information regarding other pnc-originated sba guaranteed loans made to businesses located in the state of maryland , the commonwealth of virginia , and washington , dc .", "certain of the jade loans have been identified in an indictment and subsequent superseding indictment charging persons associated with jade with conspiracy to commit bank fraud , substantive violations of the federal bank fraud statute , and money laundering .", "pnc is cooperating with the u.s .", "attorney 2019s office for the district of maryland .", "our practice is to cooperate fully with regulatory and governmental investigations , audits and other inquiries , including those described in this note 23 .", "in addition to the proceedings or other matters described above , pnc and persons to whom we may have indemnification obligations , in the normal course of business , are subject to various other pending and threatened legal proceedings in which claims for monetary damages and other relief are asserted .", "we do not anticipate , at the present time , that the ultimate aggregate liability , if any , arising out of such other legal proceedings will have a material adverse effect on our financial position .", "however , we cannot now determine whether or not any claims asserted against us or others to whom we may have indemnification obligations , whether in the proceedings or other matters described above or otherwise , will have a material adverse effect on our results of operations in any future reporting period , which will depend on , among other things , the amount of the loss resulting from the claim and the amount of income otherwise reported for the reporting period .", "see note 24 commitments and guarantees for additional information regarding the visa indemnification and our other obligations to provide indemnification , including to current and former officers , directors , employees and agents of pnc and companies we have acquired .", "note 24 commitments and guarantees equity funding and other commitments our unfunded commitments at december 31 , 2013 included private equity investments of $ 164 million .", "standby letters of credit we issue standby letters of credit and have risk participations in standby letters of credit issued by other financial institutions , in each case to support obligations of our customers to third parties , such as insurance requirements and the facilitation of transactions involving capital markets product execution .", "net outstanding standby letters of credit and internal credit ratings were as follows : table 151 : net outstanding standby letters of credit dollars in billions december 31 december 31 net outstanding standby letters of credit ( a ) $ 10.5 $ 11.5 internal credit ratings ( as a percentage of portfolio ) : ." ]

[ "( a ) the amounts above exclude participations in standby letters of credit of $ 3.3 billion and $ 3.2 billion to other financial institutions as of december 31 , 2013 and december 31 , 2012 , respectively .", "the amounts above include $ 6.6 billion and $ 7.5 billion which support remarketing programs at december 31 , 2013 and december 31 , 2012 , respectively .", "( b ) indicates that expected risk of loss is currently low .", "( c ) indicates a higher degree of risk of default .", "if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon a draw by a beneficiary , subject to the terms of the letter of credit , we would be obligated to make payment to them .", "the standby letters of credit outstanding on december 31 , 2013 had terms ranging from less than 1 year to 6 years .", "as of december 31 , 2013 , assets of $ 2.0 billion secured certain specifically identified standby letters of credit .", "in addition , a portion of the remaining standby letters of credit issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us .", "the carrying amount of the liability for our obligations related to standby letters of credit and participations in standby letters of credit was $ 218 million at december 31 , 2013 .", "standby bond purchase agreements and other liquidity facilities we enter into standby bond purchase agreements to support municipal bond obligations .", "at december 31 , 2013 , the aggregate of our commitments under these facilities was $ 1.3 billion .", "we also enter into certain other liquidity facilities to support individual pools of receivables acquired by commercial paper conduits .", "there were no commitments under these facilities at december 31 , 2013 .", "212 the pnc financial services group , inc .", "2013 form 10-k ." ]

[ [ "Dollars in billions", "December 31 2013", "December 312012" ], [ "Net outstanding standby letters of credit (a)", "$10.5", "$11.5" ], [ "Internal credit ratings (as a percentage of portfolio):", "", "" ], [ "Pass (b)", "96%", "95%" ], [ "Below pass (c)", "4%", "5%" ] ]

[ [ "dollars in billions", "december 31 2013", "december 312012" ], [ "net outstanding standby letters of credit ( a )", "$ 10.5", "$ 11.5" ], [ "internal credit ratings ( as a percentage of portfolio ) :", "", "" ], [ "pass ( b )", "96% ( 96 % )", "95% ( 95 % )" ], [ "below pass ( c )", "4% ( 4 % )", "5% ( 5 % )" ] ]

[]

[ "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", "% ( % )" ] ]

[ { "arg1": "90", "arg2": "99", "op": "minus1-1", "res": "-9" }, { "arg1": "#0", "arg2": "99", "op": "divide1-2", "res": "9.1%" } ]

[ "management 2019s discussion and analysis 110 jpmorgan chase & co .", "/ 2008 annual report the allowance for credit losses increased $ 13.7 billion from the prior year to $ 23.8 billion .", "the increase included $ 4.1 billion of allowance related to noncredit-impaired loans acquired in the washington mutual transaction and the related accounting conformity provision .", "excluding held-for-sale loans , loans carried at fair value , and pur- chased credit-impaired consumer loans , the allowance for loan losses represented 3.62% ( 3.62 % ) of loans at december 31 , 2008 , compared with 1.88% ( 1.88 % ) at december 31 , 2007 .", "the consumer allowance for loan losses increased $ 10.5 billion from the prior year as a result of the washington mutual transaction and increased allowance for loan loss in residential real estate and credit card .", "the increase included additions to the allowance for loan losses of $ 4.7 billion driven by higher estimated losses for residential mort- gage and home equity loans as the weak labor market and weak overall economic conditions have resulted in increased delinquencies , while continued weak housing prices have driven a significant increase in loss severity .", "the allowance for loan losses related to credit card increased $ 4.3 billion from the prior year primarily due to the acquired allowance and subsequent conforming provision for loan loss related to the washington mutual bank acquisition and an increase in provision for loan losses of $ 2.3 billion in 2008 over 2007 , as higher estimated net charge-offs are expected in the port- folio resulting from the current economic conditions .", "the wholesale allowance for loan losses increase of $ 3.4 billion from december 31 , 2007 , reflected the effect of a weakening credit envi- ronment and the transfer of $ 4.9 billion of funded and unfunded leveraged lending commitments to retained loans from held-for-sale .", "to provide for the risk of loss inherent in the firm 2019s process of extending credit , an allowance for lending-related commitments is held for both wholesale and consumer , which is reported in other lia- bilities .", "the wholesale component is computed using a methodology similar to that used for the wholesale loan portfolio , modified for expected maturities and probabilities of drawdown and has an asset- specific component and a formula-based component .", "for a further discussion on the allowance for lending-related commitment see note 15 on pages 178 2013180 of this annual report .", "the allowance for lending-related commitments for both wholesale and consumer was $ 659 million and $ 850 million at december 31 , 2008 and 2007 , respectively .", "the decrease reflects the reduction in lending-related commitments at december 31 , 2008 .", "for more information , see page 102 of this annual report .", "the following table presents the allowance for loan losses and net charge-offs ( recoveries ) by business segment at december 31 , 2008 and 2007 .", "net charge-offs ( recoveries ) december 31 , allowance for loan losses year ended ." ]

[ "." ]

[ [ "December 31,", "Allowance for loan losses", "Net charge-offs (recoveries) year ended" ], [ "(in millions)", "2008", "2007", "2008", "2007" ], [ "Investment Bank", "$3,444", "$1,329", "$105", "$36" ], [ "Commercial Banking", "2,826", "1,695", "288", "44" ], [ "Treasury & Securities Services", "74", "18", "(2)", "—" ], [ "Asset Management", "191", "112", "11", "(8)" ], [ "Corporate/Private Equity", "10", "—", "—", "—" ], [ "Total Wholesale", "6,545", "3,154", "402", "72" ], [ "Retail Financial Services", "8,918", "2,668", "4,877", "1,350" ], [ "Card Services", "7,692", "3,407", "4,556", "3,116" ], [ "Corporate/Private Equity", "9", "5", "—", "—" ], [ "Total Consumer – reported", "16,619", "6,080", "9,433", "4,466" ], [ "Credit card – securitized", "—", "—", "3,612", "2,380" ], [ "Total Consumer – managed", "16,619", "6,080", "13,045", "6,846" ], [ "Total", "$23,164", "$9,234", "$13,477", "$6,918" ] ]

[ [ "december 31 , ( in millions )", "december 31 , 2008", "december 31 , 2007", "2008", "2007" ], [ "investment bank", "$ 3444", "$ 1329", "$ 105", "$ 36" ], [ "commercial banking", "2826", "1695", "288", "44" ], [ "treasury & securities services", "74", "18", "-2 ( 2 )", "2014" ], [ "asset management", "191", "112", "11", "-8 ( 8 )" ], [ "corporate/private equity", "10", "2014", "2014", "2014" ], [ "total wholesale", "6545", "3154", "402", "72" ], [ "retail financial services", "8918", "2668", "4877", "1350" ], [ "card services", "7692", "3407", "4556", "3116" ], [ "corporate/private equity", "9", "5", "2014", "2014" ], [ "total consumer 2013 reported", "16619", "6080", "9433", "4466" ], [ "credit card 2013 securitized", "2014", "2014", "3612", "2380" ], [ "total consumer 2013 managed", "16619", "6080", "13045", "6846" ], [ "total", "$ 23164", "$ 9234", "$ 13477", "$ 6918" ] ]

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[ "note 6 2014mergers and acquisitions eldertrust merger on february 5 , 2004 , the company consummated a merger transaction in an all cash transaction valued at $ 184 million ( the 201celdertrust transaction 201d ) .", "the eldertrust transaction adds nine assisted living facilities , one independent living facility , five skilled nursing facilities , two med- ical office buildings and a financial office building ( the 201celdertrust properties 201d ) to the company 2019s portfolio.the eldertrust properties are leased by the company to various operators under leases providing for aggregated , annual cash base rent of approxi- mately $ 16.2 million , subject to escalation as provided in the leases.the leases have remaining terms primarily ranging from four to 11 years.at the closing of the eldertrust transaction , the company also acquired all of the limited partnership units in eldertrust operating limited partnership ( 201cetop 201d ) directly from their owners at $ 12.50 per unit , excluding 31455 class c units in etop ( which will remain outstanding ) .", "etop owns directly or indirectly all of the eldertrust properties .", "the company funded the $ 101 million equity portion of the purchase price with cash on eldertrust 2019s balance sheet , a portion of the $ 85 million in proceeds from its december 2003 sale of ten facilities to kindred and draws on the company 2019s revolving credit facility ( the 201crevolving credit facility 201d ) under its second amended and restated security and guaranty agreement , dated as of april 17 , 2002 ( the 201c2002 credit agreement 201d ) .the company 2019s ownership of the eldertrust properties is subject to approximately $ 83 million of property level debt and other liabilities.at the close of the eldertrust transaction , eldertrust had approximately $ 33.5 million in unrestricted and restricted cash on hand .", "the acquisition was accounted for under the purchase method .", "the following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of acquisition .", "such estimates are subject to refinement as additional valuation information is received .", "operations from this merger will be reflected in the company 2019s consolidated financial state- ments for periods subsequent to the acquisition date of february 5 , 2004.the company is in the process of computing fair values , thus , the allocation of the purchase price is subject to refinement. ." ]

[ "transaction with brookdale on january 29 , 2004 , the company entered into 14 definitive purchase agreements ( each , a 201cbrookdale purchase agreement 201d ) with certain affiliates of brookdale living communities , inc .", "( 201cbrookdale 201d ) to purchase ( each such purchase , a 201cbrookdale acquisition 201d ) a total of 14 independent living or assisted living facilities ( each , a 201cbrookdale facility 201d ) for an aggregate purchase price of $ 115 million.affiliates of brookdale have agreed to lease and operate the brookdale facilities pursuant to one or more triple-net leases.all of the brookdale leases , which have an initial term of 15 years , will be guaranteed by brookdale and provide for aggregated annual base rent of approximately $ 10 million , escalating each year by the greater of ( i ) 1.5% ( 1.5 % ) or ( ii ) 75% ( 75 % ) of the consumer price index .", "the company expects to fund the brookdale acquisitions by assuming an aggregate of approximately $ 41 million of non- recourse property level debt on certain of the brookdale facilities , with the balance to be paid from cash on hand and/or draws on the revolving credit facility.the property level debt encumbers seven of the brookdale facilities .", "on january 29 , 2004 , the company completed the acquisitions of four brookdale facilities for an aggregate purchase price of $ 37 million.the company 2019s acquisition of the remaining ten brookdale facilities is expected to be completed shortly , subject to customary closing conditions .", "however , the consummation of each such brookdale acquisition is not conditioned upon the consummation of any other such brookdale acquisition and there can be no assurance which , if any , of such remaining brookdale acquisitions will be consummated or when they will be consummated .", "transactions with trans healthcare , inc .", "on november 4 , 2002 , the company , through its wholly owned subsidiary ventas realty , completed a $ 120.0 million transaction ( the 201cthi transaction 201d ) with trans healthcare , inc. , a privately owned long-term care and hospital company ( 201cthi 201d ) .the thi transaction was structured as a $ 53.0 million sale leaseback trans- action ( the 201cthi sale leaseback 201d ) and a $ 67.0 million loan ( the 201cthi loan 201d ) , comprised of a first mortgage loan ( the 201cthi senior loan 201d ) and a mezzanine loan ( the 201cthi mezzanine loan 201d ) .", "following a sale of the thi senior loan in december 2002 ( see below ) , the company 2019s investment in thi was $ 70.0 million .", "as part of the thi sale leasebackventas realty purchased 5 properties and is leasing them back to thi under a 201ctriple-net 201d master lease ( the 201cthi master lease 201d ) .the properties subject to the sale leaseback are four skilled nursing facilities and one con- tinuing care retirement community.the thi master lease , which has an initial term of ten years , provides for annual base rent of $ 5.9 million.the thi master lease provides that if thi meets specified revenue parameters , annual base rent will escalate each year by the greater of ( i ) three percent or ( ii ) 50% ( 50 % ) of the consumer price index .", "ventas , inc .", "page 37 annual report 2003 ." ]

[ [ "", "(in millions)" ], [ "Real estate investments", "$162" ], [ "Cash and cash equivalents", "28" ], [ "Other assets", "5" ], [ "Total assets acquired", "$195" ], [ "Notes payable and other debt", "83" ], [ "Accounts payable and other accrued liabilities", "2" ], [ "Total liabilities assumed", "85" ], [ "Net assets acquired", "$110" ] ]

[ [ "", "( in millions )" ], [ "real estate investments", "$ 162" ], [ "cash and cash equivalents", "28" ], [ "other assets", "5" ], [ "total assets acquired", "$ 195" ], [ "notes payable and other debt", "83" ], [ "accounts payable and other accrued liabilities", "2" ], [ "total liabilities assumed", "85" ], [ "net assets acquired", "$ 110" ] ]

[]

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

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

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

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

[ { "arg1": "17176475", "arg2": "68211649", "op": "add2-1", "res": "85388124" }, { "arg1": "68211649", "arg2": "#0", "op": "divide2-2", "res": "79.9%" } ]

[ "do so , cme invests such contributions in assets that mirror the assumed investment choices .", "the balances in these plans are subject to the claims of general creditors of the exchange and totaled $ 38.7 million and $ 31.8 million at december 31 , 2012 and 2011 respectively .", "although the value of the plans is recorded as an asset in marketable securities in the consolidated balance sheets , there is an equal and offsetting liability .", "the investment results of these plans have no impact on net income as the investment results are recorded in equal amounts to both investment income and compensation and benefits expense .", "supplemental savings plan .", "cme maintains a supplemental plan to provide benefits for employees who have been impacted by statutory limits under the provisions of the qualified pension and savings plan .", "employees in this plan are subject to the vesting requirements of the underlying qualified plans .", "deferred compensation plan .", "a deferred compensation plan is maintained by cme , under which eligible officers and members of the board of directors may contribute a percentage of their compensation and defer income taxes thereon until the time of distribution .", "comex members 2019 retirement plan and benefits .", "comex maintains a retirement and benefit plan under the comex members 2019 recognition and retention plan ( mrrp ) .", "this plan provides benefits to certain members of the comex division based on long-term membership , and participation is limited to individuals who were comex division members prior to nymex 2019s acquisition of comex in 1994 .", "no new participants were permitted into the plan after the date of this acquisition .", "under the terms of the mrrp , the company is required to fund the plan with a minimum annual contribution of $ 0.8 million until it is fully funded .", "all benefits to be paid under the mrrp are based on reasonable actuarial assumptions which are based upon the amounts that are available and are expected to be available to pay benefits .", "total contributions to the plan were $ 0.8 million for each of 2010 through 2012 .", "at december 31 , 2012 and 2011 , the obligation for the mrrp totaled $ 22.7 million and $ 21.6 million , respectively .", "assets with a fair value of $ 18.4 million and $ 17.7 million have been allocated to this plan at december 31 , 2012 and 2011 , respectively , and are included in marketable securities and cash and cash equivalents in the consolidated balance sheets .", "the balances in these plans are subject to the claims of general creditors of comex .", "13 .", "commitments operating leases .", "cme group has entered into various non-cancellable operating lease agreements , with the most significant being as follows : 2022 in april 2012 , the company sold two buildings in chicago at 141 w .", "jackson and leased back a portion of the property .", "the operating lease , which has an initial lease term ending on april 30 , 2027 , contains four consecutive renewal options for five years .", "2022 in january 2011 , the company entered into an operating lease for office space in london .", "the initial lease term , which became effective on january 20 , 2011 , terminates on march 24 , 2026 , with an option to terminate without penalty in january 2021 .", "2022 in july 2008 , the company renegotiated the operating lease for its headquarters at 20 south wacker drive in chicago .", "the lease , which has an initial term ending on november 30 , 2022 , contains two consecutive renewal options for seven and ten years and a contraction option which allows the company to reduce its occupied space after november 30 , 2018 .", "in addition , the company may exercise a lease expansion option in december 2017 .", "2022 in august 2006 , the company entered into an operating lease for additional office space in chicago .", "the initial lease term , which became effective on august 10 , 2006 , terminates on november 30 , 2023 .", "the lease contains two 5-year renewal options beginning in 2023 .", "at december 31 , 2012 , future minimum payments under non-cancellable operating leases were payable as follows ( in millions ) : ." ]

[ "." ]

[ [ "2013", "$28.7" ], [ "2014", "29.1" ], [ "2015", "28.9" ], [ "2016", "28.9" ], [ "2017", "29.3" ], [ "Thereafter", "152.9" ], [ "Total", "$297.8" ] ]

[ [ "2013", "$ 28.7" ], [ "2014", "29.1" ], [ "2015", "28.9" ], [ "2016", "28.9" ], [ "2017", "29.3" ], [ "thereafter", "152.9" ], [ "total", "$ 297.8" ] ]

[ { "arg1": "22.7", "arg2": "21.6", "op": "minus2-1", "res": "1.1" }, { "arg1": "#0", "arg2": "21.6", "op": "divide2-2", "res": "5.1%" } ]

[ "pollutants discharged to waters of the united states and remediation of waters affected by such discharge .", "to our knowledge , we are in compliance with all material requirements associated with the various regulations .", "the united states congress is actively considering legislation to reduce emissions of greenhouse gases , including carbon dioxide and methane .", "in addition , state and regional initiatives to regulate greenhouse gas emissions are underway .", "we are monitoring federal and state legislation to assess the potential impact on our operations .", "our most recent calculation of direct greenhouse gas emissions for oneok and oneok partners is estimated to be less than 6 million metric tons of carbon dioxide equivalents on an annual basis .", "we will continue efforts to quantify our direct greenhouse gas emissions and will report such emissions as required by any mandatory reporting rule , including the rules anticipated to be issued by the epa in mid-2009 .", "superfund - the comprehensive environmental response , compensation and liability act , also known as cercla or superfund , imposes liability , without regard to fault or the legality of the original act , on certain classes of persons who contributed to the release of a hazardous substance into the environment .", "these persons include the owner or operator of a facility where the release occurred and companies that disposed or arranged for the disposal of the hazardous substances found at the facility .", "under cercla , these persons may be liable for the costs of cleaning up the hazardous substances released into the environment , damages to natural resources and the costs of certain health studies .", "chemical site security - the united states department of homeland security ( homeland security ) released an interim rule in april 2007 that requires companies to provide reports on sites where certain chemicals , including many hydrocarbon products , are stored .", "we completed the homeland security assessments and our facilities were subsequently assigned to one of four risk-based tiers ranging from high ( tier 1 ) to low ( tier 4 ) risk , or not tiered at all due to low risk .", "a majority of our facilities were not tiered .", "we are waiting for homeland security 2019s analysis to determine if any of the tiered facilities will require site security plans and possible physical security enhancements .", "climate change - our environmental and climate change strategy focuses on taking steps to minimize the impact of our operations on the environment .", "these strategies include : ( i ) developing and maintaining an accurate greenhouse gas emissions inventory , according to rules anticipated to be issued by the epa in mid-2009 ; ( ii ) improving the efficiency of our various pipelines , natural gas processing facilities and natural gas liquids fractionation facilities ; ( iii ) following developing technologies for emission control ; ( iv ) following developing technologies to capture carbon dioxide to keep it from reaching the atmosphere ; and ( v ) analyzing options for future energy investment .", "currently , certain subsidiaries of oneok partners participate in the processing and transmission sectors and ldcs in our distribution segment participate in the distribution sector of the epa 2019s natural gas star program to voluntarily reduce methane emissions .", "a subsidiary in our oneok partners 2019 segment was honored in 2008 as the 201cnatural gas star gathering and processing partner of the year 201d for its efforts to positively address environmental issues through voluntary implementation of emission-reduction opportunities .", "in addition , we continue to focus on maintaining low rates of lost-and- unaccounted-for methane gas through expanded implementation of best practices to limit the release of methane during pipeline and facility maintenance and operations .", "our most recent calculation of our annual lost-and-unaccounted-for natural gas , for all of our business operations , is less than 1 percent of total throughput .", "employees we employed 4742 people at january 31 , 2009 , including 739 people employed by kansas gas service , who were subject to collective bargaining contracts .", "the following table sets forth our contracts with collective bargaining units at january 31 , employees contract expires ." ]

[ "." ]

[ [ "Union", "Employees", "Contract Expires" ], [ "United Steelworkers of America", "414", "June 30, 2009" ], [ "International Union of Operating Engineers", "13", "June 30, 2009" ], [ "International Brotherhood of Electrical Workers", "312", "June 30, 2010" ] ]

[ [ "union", "employees", "contract expires" ], [ "united steelworkers of america", "414", "june 30 2009" ], [ "international union of operating engineers", "13", "june 30 2009" ], [ "international brotherhood of electrical workers", "312", "june 30 2010" ] ]

[]

[ "lockheed martin corporation management 2019s discussion and analysis of financial condition and results of operations december 31 , 2002 space systems space systems 2019 operating results included the following : ( in millions ) 2002 2001 2000 ." ]

[ "net sales for space systems increased by 8% ( 8 % ) in 2002 compared to 2001 .", "the increase in sales for 2002 resulted from higher volume in government space of $ 370 million and commercial space of $ 180 million .", "in government space , increases of $ 470 million in government satellite programs and $ 130 million in ground systems activities more than offset volume declines of $ 175 million on government launch vehi- cles and $ 55 million on strategic missile programs .", "the increase in commercial space sales is primarily attributable to an increase in launch vehicle activities , with nine commercial launches during 2002 compared to six in 2001 .", "net sales for the segment decreased by 7% ( 7 % ) in 2001 com- pared to 2000 .", "the decrease in sales for 2001 resulted from volume declines in commercial space of $ 560 million , which more than offset increases in government space of $ 60 million .", "in commercial space , sales declined due to volume reductions of $ 480 million in commercial launch vehicle activities and $ 80 million in satellite programs .", "there were six launches in 2001 compared to 14 launches in 2000 .", "the increase in gov- ernment space resulted from a combined increase of $ 230 mil- lion related to higher volume on government satellite programs and ground systems activities .", "these increases were partially offset by a $ 110 million decrease related to volume declines in government launch vehicle activity , primarily due to program maturities , and by $ 50 million due to the absence in 2001 of favorable adjustments recorded on the titan iv pro- gram in 2000 .", "operating profit for the segment increased 23% ( 23 % ) in 2002 as compared to 2001 , mainly driven by the commercial space business .", "reduced losses in commercial space during 2002 resulted in increased operating profit of $ 90 million when compared to 2001 .", "commercial satellite manufacturing losses declined $ 100 million in 2002 as operating performance improved and satellite deliveries increased .", "in the first quarter of 2001 , a $ 40 million loss provision was recorded on certain commercial satellite manufacturing contracts .", "due to the industry-wide oversupply and deterioration of pricing in the commercial launch market , financial results on commercial launch vehicles continue to be challenging .", "during 2002 , this trend led to a decline in operating profit of $ 10 million on commercial launch vehicles when compared to 2001 .", "this decrease was primarily due to lower profitability of $ 55 mil- lion on the three additional launches in the current year , addi- tional charges of $ 60 million ( net of a favorable contract adjustment of $ 20 million ) for market and pricing pressures and included the adverse effect of a $ 35 million adjustment for commercial launch vehicle contract settlement costs .", "the 2001 results also included charges for market and pricing pressures , which reduced that year 2019s operating profit by $ 145 million .", "the $ 10 million decrease in government space 2019s operating profit for the year is primarily due to the reduced volume on government launch vehicles and strategic missile programs , which combined to decrease operating profit by $ 80 million , partially offset by increases of $ 40 million in government satellite programs and $ 30 million in ground systems activities .", "operating profit for the segment increased by 4% ( 4 % ) in 2001 compared to 2000 .", "operating profit increased in 2001 due to a $ 35 million increase in government space partially offset by higher year-over-year losses of $ 20 million in commercial space .", "in government space , operating profit increased due to the impact of higher volume and improved performance in ground systems and government satellite programs .", "the year- to-year comparison of operating profit was not affected by the $ 50 million favorable titan iv adjustment recorded in 2000 discussed above , due to a $ 55 million charge related to a more conservative assessment of government launch vehi- cle programs that was recorded in the fourth quarter of 2000 .", "in commercial space , decreased operating profit of $ 15 mil- lion on launch vehicles more than offset lower losses on satel- lite manufacturing activities .", "the commercial launch vehicle operating results included $ 60 million in higher charges for market and pricing pressures when compared to 2000 .", "these negative adjustments were partially offset by $ 50 million of favorable contract adjustments on certain launch vehicle con- tracts .", "commercial satellite manufacturing losses decreased slightly from 2000 and included the adverse impact of a $ 40 million loss provision recorded in the first quarter of 2001 for certain commercial satellite contracts related to schedule and technical issues. ." ]

[ [ "<i>(In millions)</i>", "2002", "2001", "2000" ], [ "Net sales", "$7,384", "$6,836", "$7,339" ], [ "Operating profit", "443", "360", "345" ] ]

[ [ "( in millions )", "2002", "2001", "2000" ], [ "net sales", "$ 7384", "$ 6836", "$ 7339" ], [ "operating profit", "443", "360", "345" ] ]

[ { "arg1": "443", "arg2": "360", "op": "add2-1", "res": "803" }, { "arg1": "#0", "arg2": "345", "op": "add2-2", "res": "1148" }, { "arg1": "#1", "arg2": "const_3", "op": "divide2-3", "res": "382.7" } ]

[ "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", "% ( % )" ] ]

[]

[ "the authorized costs of $ 76 are to be recovered via a surcharge over a twenty-year period beginning october 2012 .", "surcharges collected as of december 31 , 2015 and 2014 were $ 4 and $ 5 , respectively .", "in addition to the authorized costs , the company expects to incur additional costs totaling $ 34 , which will be recovered from contributions made by the california state coastal conservancy .", "contributions collected as of december 31 , 2015 and 2014 were $ 8 and $ 5 , respectively .", "regulatory balancing accounts accumulate differences between revenues recognized and authorized revenue requirements until they are collected from customers or are refunded .", "regulatory balancing accounts include low income programs and purchased power and water accounts .", "debt expense is amortized over the lives of the respective issues .", "call premiums on the redemption of long- term debt , as well as unamortized debt expense , are deferred and amortized to the extent they will be recovered through future service rates .", "purchase premium recoverable through rates is primarily the recovery of the acquisition premiums related to an asset acquisition by the company 2019s california subsidiary during 2002 , and acquisitions in 2007 by the company 2019s new jersey subsidiary .", "as authorized for recovery by the california and new jersey pucs , these costs are being amortized to depreciation and amortization in the consolidated statements of operations through november 2048 .", "tank painting costs are generally deferred and amortized to operations and maintenance expense in the consolidated statements of operations on a straight-line basis over periods ranging from five to fifteen years , as authorized by the regulatory authorities in their determination of rates charged for service .", "other regulatory assets include certain deferred business transformation costs , construction costs for treatment facilities , property tax stabilization , employee-related costs , business services project expenses , coastal water project costs , rate case expenditures and environmental remediation costs among others .", "these costs are deferred because the amounts are being recovered in rates or are probable of recovery through rates in future periods .", "regulatory liabilities the regulatory liabilities generally represent probable future reductions in revenues associated with amounts that are to be credited or refunded to customers through the rate-making process .", "the following table summarizes the composition of regulatory liabilities as of december 31: ." ]

[ "removal costs recovered through rates are estimated costs to retire assets at the end of their expected useful life that are recovered through customer rates over the life of the associated assets .", "in december 2008 , the company 2019s subsidiary in new jersey , at the direction of the new jersey puc , began to depreciate $ 48 of the total balance into depreciation and amortization expense in the consolidated statements of operations via straight line amortization through november 2048 .", "pension and other postretirement benefit balancing accounts represent the difference between costs incurred and costs authorized by the puc 2019s that are expected to be refunded to customers. ." ]

[ [ "", "2015", "2014" ], [ "Removal costs recovered through rates", "$311", "$301" ], [ "Pension and other postretirement benefitbalancing accounts", "59", "54" ], [ "Other", "32", "37" ], [ "Total Regulatory Liabilities", "$402", "$392" ] ]

[ [ "", "2015", "2014" ], [ "removal costs recovered through rates", "$ 311", "$ 301" ], [ "pension and other postretirement benefitbalancing accounts", "59", "54" ], [ "other", "32", "37" ], [ "total regulatory liabilities", "$ 402", "$ 392" ] ]

[ { "arg1": "311", "arg2": "301", "op": "minus1-1", "res": "10" }, { "arg1": "#0", "arg2": "301", "op": "divide1-2", "res": "3.3%" } ]

[ "the goldman sachs group , inc .", "and subsidiaries management 2019s discussion and analysis the risk committee of the board and the risk governance committee ( through delegated authority from the firmwide risk committee ) approve market risk limits and sub-limits at firmwide , business and product levels , consistent with our risk appetite statement .", "in addition , market risk management ( through delegated authority from the risk governance committee ) sets market risk limits and sub-limits at certain product and desk levels .", "the purpose of the firmwide limits is to assist senior management in controlling our overall risk profile .", "sub-limits are set below the approved level of risk limits .", "sub-limits set the desired maximum amount of exposure that may be managed by any particular business on a day-to-day basis without additional levels of senior management approval , effectively leaving day-to-day decisions to individual desk managers and traders .", "accordingly , sub-limits are a management tool designed to ensure appropriate escalation rather than to establish maximum risk tolerance .", "sub-limits also distribute risk among various businesses in a manner that is consistent with their level of activity and client demand , taking into account the relative performance of each area .", "our market risk limits are monitored daily by market risk management , which is responsible for identifying and escalating , on a timely basis , instances where limits have been exceeded .", "when a risk limit has been exceeded ( e.g. , due to positional changes or changes in market conditions , such as increased volatilities or changes in correlations ) , it is escalated to senior managers in market risk management and/or the appropriate risk committee .", "such instances are remediated by an inventory reduction and/or a temporary or permanent increase to the risk limit .", "model review and validation our var and stress testing models are regularly reviewed by market risk management and enhanced in order to incorporate changes in the composition of positions included in our market risk measures , as well as variations in market conditions .", "prior to implementing significant changes to our assumptions and/or models , model risk management performs model validations .", "significant changes to our var and stress testing models are reviewed with our chief risk officer and chief financial officer , and approved by the firmwide risk committee .", "see 201cmodel risk management 201d for further information about the review and validation of these models .", "systems we have made a significant investment in technology to monitor market risk including : 2030 an independent calculation of var and stress measures ; 2030 risk measures calculated at individual position levels ; 2030 attribution of risk measures to individual risk factors of each position ; 2030 the ability to report many different views of the risk measures ( e.g. , by desk , business , product type or entity ) ; 2030 the ability to produce ad hoc analyses in a timely manner .", "metrics we analyze var at the firmwide level and a variety of more detailed levels , including by risk category , business , and region .", "the tables below present average daily var and period-end var , as well as the high and low var for the period .", "diversification effect in the tables below represents the difference between total var and the sum of the vars for the four risk categories .", "this effect arises because the four market risk categories are not perfectly correlated .", "the table below presents average daily var by risk category. ." ]

[ "our average daily var decreased to $ 54 million in 2017 from $ 63 million in 2016 , due to reductions across all risk categories , partially offset by a decrease in the diversification effect .", "the overall decrease was primarily due to lower levels of volatility .", "our average daily var decreased to $ 63 million in 2016 from $ 76 million in 2015 , due to reductions across all risk categories , partially offset by a decrease in the diversification effect .", "the overall decrease was primarily due to reduced exposures .", "goldman sachs 2017 form 10-k 91 ." ]

[ [ "", "Year Ended December" ], [ "<i>$ in millions</i>", "2017", "2016", "2015" ], [ "Interest rates", "$ 40", "$ 45", "$ 47" ], [ "Equity prices", "24", "25", "26" ], [ "Currency rates", "12", "21", "30" ], [ "Commodity prices", "13", "17", "20" ], [ "Diversification effect", "(35)", "(45)", "(47)" ], [ "Total", "$ 54", "$ 63", "$ 76" ] ]

[ [ "$ in millions", "year ended december 2017", "year ended december 2016", "year ended december 2015" ], [ "interest rates", "$ 40", "$ 45", "$ 47" ], [ "equity prices", "24", "25", "26" ], [ "currency rates", "12", "21", "30" ], [ "commodity prices", "13", "17", "20" ], [ "diversification effect", "-35 ( 35 )", "-45 ( 45 )", "-47 ( 47 )" ], [ "total", "$ 54", "$ 63", "$ 76" ] ]

[ { "arg1": "40", "arg2": "45", "op": "minus1-1", "res": "-5" }, { "arg1": "#0", "arg2": "45", "op": "divide1-2", "res": "-11%" } ]

[ "stock performance graph * $ 100 invested on december 31 , 2011 in our stock or in the relevant index , including reinvestment of dividends .", "fiscal year ended december 31 , 2016 .", "( 1 ) delphi automotive plc ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive supplier peer group 2013 russell 3000 auto parts index , including american axle & manufacturing , borgwarner inc. , cooper tire & rubber company , dana inc. , delphi automotive plc , dorman products inc. , federal-mogul corp. , ford motor co. , general motors co. , gentex corp. , gentherm inc. , genuine parts co. , goodyear tire & rubber co. , johnson controls international plc , lear corp. , lkq corp. , meritor inc. , standard motor products inc. , stoneridge inc. , superior industries international , tenneco inc. , tesla motors inc. , tower international inc. , visteon corp. , and wabco holdings inc .", "company index december 31 , december 31 , december 31 , december 31 , december 31 , december 31 ." ]

[ "dividends the company has declared and paid cash dividends of $ 0.25 and $ 0.29 per ordinary share in each quarter of 2015 and 2016 , respectively .", "in addition , in january 2017 , the board of directors declared a regular quarterly cash dividend of $ 0.29 per ordinary share , payable on february 15 , 2017 to shareholders of record at the close of business on february 6 , 2017. ." ]

[ [ "Company Index", "December 31, 2011", "December 31, 2012", "December 31, 2013", "December 31, 2014", "December 31, 2015", "December 31, 2016" ], [ "Delphi Automotive PLC (1)", "$100.00", "$177.58", "$283.02", "$347.40", "$414.58", "$331.43" ], [ "S&P 500 (2)", "100.00", "116.00", "153.58", "174.60", "177.01", "198.18" ], [ "Automotive Supplier Peer Group (3)", "100.00", "127.04", "188.67", "203.06", "198.34", "202.30" ] ]

[ [ "company index", "december 31 2011", "december 31 2012", "december 31 2013", "december 31 2014", "december 31 2015", "december 31 2016" ], [ "delphi automotive plc ( 1 )", "$ 100.00", "$ 177.58", "$ 283.02", "$ 347.40", "$ 414.58", "$ 331.43" ], [ "s&p 500 ( 2 )", "100.00", "116.00", "153.58", "174.60", "177.01", "198.18" ], [ "automotive supplier peer group ( 3 )", "100.00", "127.04", "188.67", "203.06", "198.34", "202.30" ] ]

[ { "arg1": "331.43", "arg2": "const_100", "op": "minus2-1", "res": "231.43" }, { "arg1": "#0", "arg2": "const_100", "op": "divide2-2", "res": "231.43%" } ]

[ "morgan stanley notes to consolidated financial statements 2014 ( continued ) the following table presents a reconciliation of the beginning and ending amount of unrecognized tax benefits for 2013 , 2012 and 2011 ( dollars in millions ) : unrecognized tax benefits ." ]

[ "the company is under continuous examination by the irs and other tax authorities in certain countries , such as japan and the u.k. , and in states in which the company has significant business operations , such as new york .", "the company is currently under review by the irs appeals office for the remaining issues covering tax years 1999 2013 2005 .", "also , the company is currently at various levels of field examination with respect to audits by the irs , as well as new york state and new york city , for tax years 2006 2013 2008 and 2007 2013 2009 , respectively .", "during 2014 , the company expects to reach a conclusion with the u.k .", "tax authorities on substantially all issues through tax year 2010 .", "the company believes that the resolution of tax matters will not have a material effect on the consolidated statements of financial condition of the company , although a resolution could have a material impact on the company 2019s consolidated statements of income for a particular future period and on the company 2019s effective income tax rate for any period in which such resolution occurs .", "the company has established a liability for unrecognized tax benefits that the company believes is adequate in relation to the potential for additional assessments .", "once established , the company adjusts unrecognized tax benefits only when more information is available or when an event occurs necessitating a change .", "the company periodically evaluates the likelihood of assessments in each taxing jurisdiction resulting from the expiration of the applicable statute of limitations or new information regarding the status of current and subsequent years 2019 examinations .", "as part of the company 2019s periodic review , federal and state unrecognized tax benefits were released or remeasured .", "as a result of this remeasurement , the income tax provision included a discrete tax benefit of $ 161 million and $ 299 million in 2013 and 2012 , respectively .", "it is reasonably possible that the gross balance of unrecognized tax benefits of approximately $ 4.1 billion as of december 31 , 2013 may decrease significantly within the next 12 months due to an expected completion of the ." ]

[ [ "Balance at December 31, 2010", "$3,711" ], [ "Increase based on tax positions related to the current period", "412" ], [ "Increase based on tax positions related to prior periods", "70" ], [ "Decreases based on tax positions related to prior periods", "(79)" ], [ "Decreases related to settlements with taxing authorities", "(56)" ], [ "Decreases related to a lapse of applicable statute of limitations", "(13)" ], [ "Balance at December 31, 2011", "$4,045" ], [ "Increase based on tax positions related to the current period", "$299" ], [ "Increase based on tax positions related to prior periods", "127" ], [ "Decreases based on tax positions related to prior periods", "(21)" ], [ "Decreases related to settlements with taxing authorities", "(260)" ], [ "Decreases related to a lapse of applicable statute of limitations", "(125)" ], [ "Balance at December 31, 2012", "$4,065" ], [ "Increase based on tax positions related to the current period", "$51" ], [ "Increase based on tax positions related to prior periods", "267" ], [ "Decreases based on tax positions related to prior periods", "(141)" ], [ "Decreases related to settlements with taxing authorities", "(146)" ], [ "Balance at December 31, 2013", "$4,096" ] ]

[ [ "balance at december 31 2010", "$ 3711" ], [ "increase based on tax positions related to the current period", "412" ], [ "increase based on tax positions related to prior periods", "70" ], [ "decreases based on tax positions related to prior periods", "-79 ( 79 )" ], [ "decreases related to settlements with taxing authorities", "-56 ( 56 )" ], [ "decreases related to a lapse of applicable statute of limitations", "-13 ( 13 )" ], [ "balance at december 31 2011", "$ 4045" ], [ "increase based on tax positions related to the current period", "$ 299" ], [ "increase based on tax positions related to prior periods", "127" ], [ "decreases based on tax positions related to prior periods", "-21 ( 21 )" ], [ "decreases related to settlements with taxing authorities", "-260 ( 260 )" ], [ "decreases related to a lapse of applicable statute of limitations", "-125 ( 125 )" ], [ "balance at december 31 2012", "$ 4065" ], [ "increase based on tax positions related to the current period", "$ 51" ], [ "increase based on tax positions related to prior periods", "267" ], [ "decreases based on tax positions related to prior periods", "-141 ( 141 )" ], [ "decreases related to settlements with taxing authorities", "-146 ( 146 )" ], [ "balance at december 31 2013", "$ 4096" ] ]

[]

[ "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" ] ]

[ { "arg1": "3139", "arg2": "2641", "op": "divide1-1", "res": "1.1885" }, { "arg1": "#0", "arg2": "const_1", "op": "minus1-2", "res": "18.85%" }, { "arg1": "91", "arg2": "77", "op": "divide1-3", "res": "1.1818" }, { "arg1": "#2", "arg2": "const_1", "op": "minus1-4", "res": "18.18%" }, { "arg1": "#1", "arg2": "#3", "op": "minus1-5", "res": "0.67%" } ]

[ "part ii , item 7 until maturity , effectively making this a us dollar denominated debt on which schlumberger will pay interest in us dollars at a rate of 4.74% ( 4.74 % ) .", "the proceeds from these notes were used to repay commercial paper borrowings .", "0160 on april 20 , 2006 , the schlumberger board of directors approved a share repurchase program of up to 40 million shares of common stock to be acquired in the open market before april 2010 , subject to market conditions .", "this program was completed during the second quarter of 2008 .", "on april 17 , 2008 , the schlumberger board of directors approved an $ 8 billion share repurchase program for shares of schlumberger common stock , to be acquired in the open market before december 31 , 2011 , of which $ 1.43 billion had been repurchased as of december 31 , 2009 .", "the following table summarizes the activity under these share repurchase programs during 2009 , 2008 and ( stated in thousands except per share amounts and prices ) total cost of shares purchased total number of shares purchased average price paid per share ." ]

[ "0160 cash flow provided by operations was $ 5.3 billion in 2009 , $ 6.9 billion in 2008 and $ 6.3 billion in 2007 .", "the decline in cash flow from operations in 2009 as compared to 2008 was primarily driven by the decrease in net income experienced in 2009 and the significant pension plan contributions made during 2009 , offset by an improvement in working capital requirements .", "the improvement in 2008 as compared to 2007 was driven by the net income increase experienced in 2008 offset by required investments in working capital .", "the reduction in cash flows experienced by some of schlumberger 2019s customers as a result of global economic conditions could have significant adverse effects on their financial condition .", "this could result in , among other things , delay in , or nonpayment of , amounts that are owed to schlumberger , which could have a material adverse effect on schlumberger 2019s results of operations and cash flows .", "at times in recent quarters , schlumberger has experienced delays in payments from certain of its customers .", "schlumberger operates in approximately 80 countries .", "at december 31 , 2009 , only three of those countries individually accounted for greater than 5% ( 5 % ) of schlumberger 2019s accounts receivable balance of which only one represented greater than 0160 during 2008 and 2007 , schlumberger announced that its board of directors had approved increases in the quarterly dividend of 20% ( 20 % ) and 40% ( 40 % ) , respectively .", "total dividends paid during 2009 , 2008 and 2007 were $ 1.0 billion , $ 964 million and $ 771 million , respectively .", "0160 capital expenditures were $ 2.4 billion in 2009 , $ 3.7 billion in 2008 and $ 2.9 billion in 2007 .", "capital expenditures in 2008 and 2007 reflected the record activity levels experienced in those years .", "the decrease in capital expenditures in 2009 as compared to 2008 is primarily due to the significant activity decline during 2009 .", "oilfield services capital expenditures are expected to approach $ 2.4 billion for the full year 2010 as compared to $ 1.9 billion in 2009 and $ 3.0 billion in 2008 .", "westerngeco capital expenditures are expected to approach $ 0.3 billion for the full year 2010 as compared to $ 0.5 billion in 2009 and $ 0.7 billion in 2008. ." ]

[ [ "", "Total cost of shares purchased", "Total number of shares purchased", "Average price paid per share" ], [ "2009", "$500,097", "7,825.0", "$63.91" ], [ "2008", "$1,818,841", "21,064.7", "$86.35" ], [ "2007", "$1,355,000", "16,336.1", "$82.95" ] ]

[ [ "", "total cost of shares purchased", "total number of shares purchased", "average price paid per share" ], [ "2009", "$ 500097", "7825.0", "$ 63.91" ], [ "2008", "$ 1818841", "21064.7", "$ 86.35" ], [ "2007", "$ 1355000", "16336.1", "$ 82.95" ] ]

[]

[ "customary conditions .", "we will retain a 20% ( 20 % ) equity interest in the joint venture .", "as of december 31 , 2008 , the joint venture has acquired seven properties from us and we received year-to-date net sale proceeds and financing distributions of approximately $ 251.6 million .", "in january 2008 , we sold a tract of land to an unconsolidated joint venture in which we hold a 50% ( 50 % ) equity interest and received a distribution , commensurate to our partner 2019s 50% ( 50 % ) ownership interest , of approximately $ 38.3 million .", "in november 2008 , that unconsolidated joint venture entered a loan agreement with a consortium of banks and distributed a portion of the loan proceeds to us and our partner , with our share of the distribution totaling $ 20.4 million .", "uses of liquidity our principal uses of liquidity include the following : 2022 property investment ; 2022 recurring leasing/capital costs ; 2022 dividends and distributions to shareholders and unitholders ; 2022 long-term debt maturities ; 2022 opportunistic repurchases of outstanding debt ; and 2022 other contractual obligations .", "property investment we evaluate development and acquisition opportunities based upon market outlook , supply and long-term growth potential .", "our ability to make future property investments is dependent upon our continued access to our longer-term sources of liquidity including the issuances of debt or equity securities as well as disposing of selected properties .", "in light of current economic conditions , management continues to evaluate our investment priorities and we are limiting new development expenditures .", "recurring expenditures one of our principal uses of our liquidity is to fund the recurring leasing/capital expenditures of our real estate investments .", "the following is a summary of our recurring capital expenditures for the years ended december 31 , 2008 , 2007 and 2006 , respectively ( in thousands ) : ." ]

[ "dividends and distributions in order to qualify as a reit for federal income tax purposes , we must currently distribute at least 90% ( 90 % ) of our taxable income to shareholders .", "because depreciation is a non-cash expense , cash flow will typically be greater than operating income .", "we paid dividends per share of $ 1.93 , $ 1.91 and $ 1.89 for the years ended december 31 , 2008 , 2007 and 2006 , respectively .", "we expect to continue to distribute taxable earnings to meet the requirements to maintain our reit status .", "however , distributions are declared at the discretion of our board of directors and are subject to actual cash available for distribution , our financial condition , capital requirements and such other factors as our board of directors deems relevant . in january 2009 , our board of directors resolved to decrease our annual dividend from $ 1.94 per share to $ 1.00 per share in order to retain additional cash to help meet our capital needs .", "we anticipate retaining additional cash of approximately $ 145.2 million per year , when compared to an annual dividend of $ 1.94 per share , as the result of this action .", "at december 31 , 2008 we had six series of preferred shares outstanding .", "the annual dividend rates on our preferred shares range between 6.5% ( 6.5 % ) and 8.375% ( 8.375 % ) and are paid in arrears quarterly. ." ]

[ [ "", "2008", "2007", "2006" ], [ "Recurring tenant improvements", "$36,885", "$45,296", "$41,895" ], [ "Recurring leasing costs", "28,205", "32,238", "32,983" ], [ "Building improvements", "9,724", "8,402", "8,122" ], [ "Totals", "$74,814", "$85,936", "$83,000" ] ]

[ [ "", "2008", "2007", "2006" ], [ "recurring tenant improvements", "$ 36885", "$ 45296", "$ 41895" ], [ "recurring leasing costs", "28205", "32238", "32983" ], [ "building improvements", "9724", "8402", "8122" ], [ "totals", "$ 74814", "$ 85936", "$ 83000" ] ]

[]

[ "stock total return performance the following graph compares our total return to stockholders with the returns of the standard & poor 2019s composite 500 index ( 201cs&p 500 201d ) and the dow jones us select health care providers index ( 201cpeer group 201d ) for the five years ended december 31 , 2017 .", "the graph assumes an investment of $ 100 in each of our common stock , the s&p 500 , and the peer group on december 31 , 2012 , and that dividends were reinvested when paid. ." ]

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

[ [ "", "12/31/2012", "12/31/2013", "12/31/2014", "12/31/2015", "12/31/2016", "12/31/2017" ], [ "HUM", "$100", "$152", "$214", "$267", "$307", "$377" ], [ "S&P 500", "$100", "$132", "$150", "$153", "$171", "$208" ], [ "Peer Group", "$100", "$137", "$175", "$186", "$188", "$238" ] ]

[ [ "", "12/31/2012", "12/31/2013", "12/31/2014", "12/31/2015", "12/31/2016", "12/31/2017" ], [ "hum", "$ 100", "$ 152", "$ 214", "$ 267", "$ 307", "$ 377" ], [ "s&p 500", "$ 100", "$ 132", "$ 150", "$ 153", "$ 171", "$ 208" ], [ "peer group", "$ 100", "$ 137", "$ 175", "$ 186", "$ 188", "$ 238" ] ]

[]

[ "management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) 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 , net losses on sales of businesses and deferred income taxes .", "2 reflects changes in accounts receivable , accounts receivable billable to clients , other current assets , accounts payable and accrued liabilities .", "operating activities due to the seasonality of our business , we typically use cash from working capital in the first nine months of a year , with the largest impact in the first quarter , and generate cash from working capital in the fourth quarter , driven by the seasonally strong media spending by our clients .", "quarterly and annual working capital results are impacted by the fluctuating annual media spending budgets of our clients as well as their changing media spending patterns throughout each year across various countries .", "the timing of media buying on behalf of our clients across various countries affects our working capital and operating cash flow and can be volatile .", "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 , which substantially exceed our revenues , primarily affect the level of accounts receivable , accounts payable , accrued liabilities and contract 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 .", "net cash provided by operating activities during 2018 was $ 565.1 , which was a decrease of $ 316.7 as compared to 2017 , primarily as a result of an increase in working capital usage of $ 436.4 .", "working capital in 2018 was impacted by the spending levels of our clients as compared to 2017 .", "the working capital usage in both periods was primarily attributable to our media businesses .", "net cash provided by operating activities during 2017 was $ 881.8 , which was an increase of $ 369.0 as compared to 2016 , primarily as a result of an improvement in working capital usage of $ 415.6 .", "working capital in 2017 benefited from the spending patterns of our clients compared to 2016 .", "investing activities net cash used in investing activities during 2018 consisted of payments for acquisitions of $ 2309.8 , related mostly to the acxiom acquisition , and payments for capital expenditures of $ 177.1 , related mostly to leasehold improvements and computer hardware and software. ." ]

[ [ "", "Years ended December 31," ], [ "Cash Flow Data", "2018", "2017", "2016" ], [ "Net income, adjusted to reconcile to net cash provided by operating activities¹", "$1,013.0", "$852.1", "$1,018.6" ], [ "Net cash (used in) provided by working capital²", "(431.1)", "5.3", "(410.3)" ], [ "Changes in other non-current assets and liabilities", "(16.8)", "24.4", "(95.5)" ], [ "Net cash provided by operating activities", "$565.1", "$881.8", "$512.8" ], [ "Net cash used in investing activities", "(2,491.5)", "(196.2)", "(263.9)" ], [ "Net cash provided by (used in) financing activities", "1,853.2", "(1,004.9)", "(666.4)" ] ]

[ [ "cash flow data", "years ended december 31 , 2018", "years ended december 31 , 2017", "years ended december 31 , 2016" ], [ "net income adjusted to reconcile to net cash provided by operating activities1", "$ 1013.0", "$ 852.1", "$ 1018.6" ], [ "net cash ( used in ) provided by working capital2", "-431.1 ( 431.1 )", "5.3", "-410.3 ( 410.3 )" ], [ "changes in other non-current assets and liabilities", "-16.8 ( 16.8 )", "24.4", "-95.5 ( 95.5 )" ], [ "net cash provided by operating activities", "$ 565.1", "$ 881.8", "$ 512.8" ], [ "net cash used in investing activities", "-2491.5 ( 2491.5 )", "-196.2 ( 196.2 )", "-263.9 ( 263.9 )" ], [ "net cash provided by ( used in ) financing activities", "1853.2", "-1004.9 ( 1004.9 )", "-666.4 ( 666.4 )" ] ]

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[ "14 .", "leases we lease certain locomotives , freight cars , and other property .", "the consolidated statement of financial position as of december 31 , 2008 and 2007 included $ 2024 million , net of $ 869 million of amortization , and $ 2062 million , net of $ 887 million of amortization , respectively , for properties held under capital leases .", "a charge to income resulting from the amortization 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 , 2008 were as follows : millions of dollars operating leases capital leases ." ]

[ "the majority of capital lease payments relate to locomotives .", "rent expense for operating leases with terms exceeding one month was $ 747 million in 2008 , $ 810 million in 2007 , and $ 798 million in 2006 .", "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 .", "15 .", "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 ; however , to the extent possible , where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated , we have recorded a liability .", "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 third-party actuaries to assist us in measuring 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 our personal injury liability is discounted to present value using applicable u.s .", "treasury rates .", "approximately 88% ( 88 % ) of the recorded liability related to asserted claims , and approximately 12% ( 12 % ) related to unasserted claims at december 31 , 2008 .", "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 ." ]

[ [ "<i>Millions of Dollars</i>", "<i>OperatingLeases</i>", "<i>CapitalLeases</i>" ], [ "2009", "$657", "$188" ], [ "2010", "614", "168" ], [ "2011", "580", "178" ], [ "2012", "465", "122" ], [ "2013", "389", "152" ], [ "Later years", "3,204", "1,090" ], [ "Total minimum lease payments", "$5,909", "$1,898" ], [ "Amount representing interest", "N/A", "628" ], [ "Present value of minimum lease payments", "N/A", "$1,270" ] ]

[ [ "millions of dollars", "operatingleases", "capitalleases" ], [ "2009", "$ 657", "$ 188" ], [ "2010", "614", "168" ], [ "2011", "580", "178" ], [ "2012", "465", "122" ], [ "2013", "389", "152" ], [ "later years", "3204", "1090" ], [ "total minimum lease payments", "$ 5909", "$ 1898" ], [ "amount representing interest", "n/a", "628" ], [ "present value of minimum lease payments", "n/a", "$ 1270" ] ]

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[ "table of contents interest expense , net of capitalized interest increased $ 64 million , or 9.8% ( 9.8 % ) , to $ 710 million in 2013 from $ 646 million in 2012 primarily due to special charges of $ 92 million to recognize post-petition interest expense on unsecured obligations pursuant to the plan and penalty interest related to 10.5% ( 10.5 % ) secured notes and 7.50% ( 7.50 % ) senior secured notes .", "other nonoperating expense , net of $ 84 million in 2013 consists principally of net foreign currency losses of $ 55 million and early debt extinguishment charges of $ 48 million .", "other nonoperating income in 2012 consisted principally of a $ 280 million special credit related to the settlement of a commercial dispute partially offset by net foreign currency losses .", "reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases .", "the following table summarizes the components included in reorganization items , net on american 2019s consolidated statements of operations for the years ended december 31 , 2013 and 2012 ( in millions ) : ." ]

[ "( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees .", "each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes .", "the total value of this deemed claim was approximately $ 1.7 billion .", "( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds .", "the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify such financing or facility agreement and the debtors believed that it was probable the motion would be approved , and there was sufficient information to estimate the claim .", "see note 2 to american 2019s consolidated financial statements in part ii , item 8b for further information .", "( 3 ) pursuant to the plan , the debtors agreed to allow certain post-petition unsecured claims on obligations .", "as a result , during the year ended december 31 , 2013 , american recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $ 180 million , allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at jfk , and rejected bonds that financed certain improvements at ord , which are included in the table above .", "( 4 ) the plan allowed unsecured creditors receiving aag series a preferred stock a conversion discount of 3.5% ( 3.5 % ) .", "accordingly , american recorded the fair value of such discount upon the confirmation of the plan by the bankruptcy court. ." ]

[ [ "", "2013", "2012" ], [ "Pension and postretirement benefits", "$—", "$(66)" ], [ "Labor-related deemed claim (1)", "1,733", "—" ], [ "Aircraft and facility financing renegotiations and rejections (2), (3)", "320", "1,951" ], [ "Fair value of conversion discount (4)", "218", "—" ], [ "Professional fees", "199", "227" ], [ "Other", "170", "67" ], [ "Total reorganization items, net", "$2,640", "$2,179" ] ]

[ [ "", "2013", "2012" ], [ "pension and postretirement benefits", "$ 2014", "$ -66 ( 66 )" ], [ "labor-related deemed claim ( 1 )", "1733", "2014" ], [ "aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )", "320", "1951" ], [ "fair value of conversion discount ( 4 )", "218", "2014" ], [ "professional fees", "199", "227" ], [ "other", "170", "67" ], [ "total reorganization items net", "$ 2640", "$ 2179" ] ]

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[ "masco corporation notes to consolidated financial statements ( continued ) o .", "segment information ( continued ) ( 1 ) included in net sales were export sales from the u.s .", "of $ 229 million , $ 241 million and $ 246 million in 2012 , 2011 and 2010 , respectively .", "( 2 ) excluded from net sales were intra-company sales between segments of approximately two percent of net sales in each of 2012 , 2011 and 2010 .", "( 3 ) included in net sales were sales to one customer of $ 2143 million , $ 1984 million and $ 1993 million in 2012 , 2011 and 2010 , respectively .", "such net sales were included in the following segments : cabinets and related products , plumbing products , decorative architectural products and other specialty products .", "( 4 ) net sales from the company 2019s operations in the u.s .", "were $ 5793 million , $ 5394 million and $ 5618 million in 2012 , 2011 and 2010 , respectively .", "( 5 ) net sales , operating ( loss ) profit , property additions and depreciation and amortization expense for 2012 , 2011 and 2010 excluded the results of businesses reported as discontinued operations in 2012 , 2011 and 2010 .", "( 6 ) included in segment operating profit ( loss ) for 2012 was an impairment charge for other intangible assets as follows : other specialty products 2013 $ 42 million .", "included in segment operating ( loss ) profit for 2011 were impairment charges for goodwill and other intangible assets as follows : cabinets and related products 2013 $ 44 million ; plumbing products 2013 $ 1 million ; decorative architectural products 2013 $ 75 million ; and other specialty products 2013 $ 374 million .", "included in segment operating ( loss ) profit for 2010 were impairment charges for goodwill and other intangible assets as follows : plumbing products 2013 $ 1 million ; and installation and other services 2013 $ 697 million .", "( 7 ) general corporate expense , net included those expenses not specifically attributable to the company 2019s segments .", "( 8 ) the charge for litigation settlement , net in 2012 primarily relates to a business in the installation and other services segment and in 2011 relates to business units in the cabinets and related products and the other specialty products segments .", "( 9 ) long-lived assets of the company 2019s operations in the u.s .", "and europe were $ 2795 million and $ 567 million , $ 2964 million and $ 565 million , and $ 3684 million and $ 617 million at december 31 , 2012 , 2011 and 2010 , respectively .", "( 10 ) segment assets for 2012 and 2011 excluded the assets of businesses reported as discontinued operations in the respective years .", "p .", "severance costs as part of the company 2019s continuing review of its operations , actions were taken during 2012 , 2011 and 2010 to respond to market conditions .", "the company recorded charges related to severance and early retirement programs of $ 36 million , $ 17 million and $ 14 million for the years ended december 31 , 2012 , 2011 and 2010 , respectively .", "such charges are principally reflected in the statement of operations in selling , general and administrative expenses and were paid when incurred .", "q .", "other income ( expense ) , net other , net , which is included in other income ( expense ) , net , was as follows , in millions: ." ]

[ "other items , net , included realized foreign currency transaction losses of $ 2 million , $ 5 million and $ 2 million in 2012 , 2011 and 2010 , respectively , as well as other miscellaneous items. ." ]

[ [ "", "2012", "2011", "2010" ], [ "Income from cash and cash investments", "$6", "$8", "$6" ], [ "Other interest income", "1", "1", "1" ], [ "Income from financial investments, net (Note E)", "24", "73", "9" ], [ "Other items, net", "(4)", "(5)", "(9)" ], [ "Total other, net", "$27", "$77", "$7" ] ]

[ [ "", "2012", "2011", "2010" ], [ "income from cash and cash investments", "$ 6", "$ 8", "$ 6" ], [ "other interest income", "1", "1", "1" ], [ "income from financial investments net ( note e )", "24", "73", "9" ], [ "other items net", "-4 ( 4 )", "-5 ( 5 )", "-9 ( 9 )" ], [ "total other net", "$ 27", "$ 77", "$ 7" ] ]

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[ "levels during 2008 , an indication that efforts to improve network operations translated into better customer service .", "2022 fuel prices 2013 crude oil prices increased at a steady rate through the first seven months of 2008 , closing at a record high of $ 145.29 a barrel in early july .", "as the economy worsened during the third and fourth quarters , fuel prices dropped dramatically , hitting $ 33.87 per barrel in december , a near five-year low .", "despite these price declines toward the end of the year , our 2008 average fuel price increased by 39% ( 39 % ) and added $ 1.1 billion of operating expenses compared to 2007 .", "our fuel surcharge programs helped offset the impact of higher fuel prices .", "in addition , we reduced our consumption rate by 4% ( 4 % ) , saving approximately 58 million gallons of fuel during the year .", "the use of newer , more fuel efficient locomotives ; our fuel conservation programs ; improved network operations ; and a shift in commodity mix , primarily due to growth in bulk shipments , contributed to the improvement .", "2022 free cash flow 2013 cash generated by operating activities totaled a record $ 4.1 billion , yielding free cash flow of $ 825 million in 2008 .", "free cash flow is defined as cash provided by operating activities , less cash used in investing activities and dividends paid .", "free cash flow is not considered a financial measure under accounting principles generally accepted in the united states ( gaap ) by sec regulation g and item 10 of sec regulation s-k .", "we believe free cash flow is important in evaluating our financial performance and measures our ability to 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 of dollars 2008 2007 2006 ." ]

[ "2009 outlook 2022 safety 2013 operating a safe railroad benefits our employees , our customers , our shareholders , and the public .", "we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , and training and engaging our employees .", "we plan to continue implementation of total safety culture ( tsc ) throughout our operations .", "tsc , an employee-focused initiative that has helped improve safety , is a process designed to establish , maintain , and promote safety among co-workers .", "with respect to public safety , we will continue our efforts to maintain , upgrade , and close crossings , install video cameras on locomotives , and educate the public about crossing safety through various railroad and industry programs , along with other activities .", "2022 transportation plan 2013 in 2009 , we will continue to evaluate traffic flows and network logistic patterns to identify additional opportunities to simplify operations and improve network efficiency and asset utilization .", "we plan to maintain adequate manpower and locomotives , and improve productivity using industrial engineering techniques .", "2022 fuel prices 2013 on average , we expect fuel prices to decrease substantially from the average price we paid in 2008 .", "however , due to economic uncertainty , other global pressures , and weather incidents , fuel prices again could be volatile during the year .", "to reduce the impact of fuel price on earnings , we ." ]

[ [ "<i>Millions of Dollars</i>", "2008", "2007", "2006" ], [ "Cash provided by operating activities", "$4,070", "$3,277", "$2,880" ], [ "Cash used in investing activities", "(2,764)", "(2,426)", "(2,042)" ], [ "Dividends paid", "(481)", "(364)", "(322)" ], [ "Free cash flow", "$825", "$487", "$516" ] ]

[ [ "millions of dollars", "2008", "2007", "2006" ], [ "cash provided by operating activities", "$ 4070", "$ 3277", "$ 2880" ], [ "cash used in investing activities", "-2764 ( 2764 )", "-2426 ( 2426 )", "-2042 ( 2042 )" ], [ "dividends paid", "-481 ( 481 )", "-364 ( 364 )", "-322 ( 322 )" ], [ "free cash flow", "$ 825", "$ 487", "$ 516" ] ]

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[ "edwards lifesciences corporation notes to consolidated financial statements ( continued ) 2 .", "summary of significant accounting policies ( continued ) in may 2014 , the fasb issued an update to the accounting guidance on revenue recognition .", "the new guidance provides a comprehensive , principles-based approach to revenue recognition , and supersedes most previous revenue recognition guidance .", "the core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services .", "the guidance also requires improved disclosures on the nature , amount , timing , and uncertainty of revenue that is recognized .", "in august 2015 , the fasb issued an update to the guidance to defer the effective date by one year , such that the new standard will be effective for annual reporting periods beginning after december 15 , 2017 and interim periods therein .", "the new guidance can be applied retrospectively to each prior reporting period presented , or retrospectively with the cumulative effect of the change recognized at the date of the initial application .", "the company is assessing all of the potential impacts of the revenue recognition guidance and has not yet selected an adoption method .", "the company will adopt the new guidance effective january 1 , although the company has not yet completed its assessment of the new revenue recognition guidance , the company 2019s analysis of contracts related to the sale of its heart valve therapy products under the new revenue recognition guidance supports the recognition of revenue at a point-in-time , which is consistent with its current revenue recognition model .", "heart valve therapy sales accounted for approximately 80% ( 80 % ) of the company 2019s sales for the year ended december 31 , 2016 .", "the company is currently assessing the potential impact of the guidance on contracts related to the sale of its critical care products , specifically sales outside of the united states .", "3 .", "intellectual property litigation expenses ( income ) , net in may 2014 , the company entered into an agreement with medtronic , inc .", "and its affiliates ( 2018 2018medtronic 2019 2019 ) to settle all outstanding patent litigation between the companies , including all cases related to transcatheter heart valves .", "pursuant to the agreement , all pending cases or appeals in courts and patent offices worldwide have been dismissed , and the parties will not litigate patent disputes with each other in the field of transcatheter valves for the eight-year term of the agreement .", "under the terms of a patent cross-license that is part of the agreement , medtronic made a one-time , upfront payment to the company for past damages in the amount of $ 750.0 million .", "in addition , medtronic will pay the company quarterly license royalty payments through april 2022 .", "for sales in the united states , subject to certain conditions , the royalty payments will be based on a percentage of medtronic 2019s sales of transcatheter aortic valves , with a minimum annual payment of $ 40.0 million and a maximum annual payment of $ 60.0 million .", "a separate royalty payment will be calculated based on sales of medtronic transcatheter aortic valves manufactured in the united states but sold elsewhere .", "the company accounted for the settlement agreement as a multiple-element arrangement and allocated the total consideration to the identifiable elements based upon their relative fair value .", "the consideration assigned to each element was as follows ( in millions ) : ." ]

[ "." ]

[ [ "Past damages", "$754.3" ], [ "License agreement", "238.0" ], [ "Covenant not to sue", "77.7" ], [ "Total", "$1,070.0" ] ]

[ [ "past damages", "$ 754.3" ], [ "license agreement", "238.0" ], [ "covenant not to sue", "77.7" ], [ "total", "$ 1070.0" ] ]

[]

[ "amortization expense , which is included in selling , general and administrative expenses , was $ 13.0 million , $ 13.9 million and $ 8.5 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .", "the following is the estimated amortization expense for the company 2019s intangible assets as of december 31 , 2016 : ( in thousands ) ." ]

[ "at december 31 , 2016 , 2015 and 2014 , the company determined that its goodwill and indefinite- lived intangible assets were not impaired .", "5 .", "credit facility and other long term debt credit facility the company is party to a credit agreement that provides revolving commitments for up to $ 1.25 billion of borrowings , as well as term loan commitments , in each case maturing in january 2021 .", "as of december 31 , 2016 there was no outstanding balance under the revolving credit facility and $ 186.3 million of term loan borrowings remained outstanding .", "at the company 2019s request and the lender 2019s consent , revolving and or term loan borrowings may be increased by up to $ 300.0 million in aggregate , subject to certain conditions as set forth in the credit agreement , as amended .", "incremental borrowings are uncommitted and the availability thereof , will depend on market conditions at the time the company seeks to incur such borrowings .", "the borrowings under the revolving credit facility have maturities of less than one year .", "up to $ 50.0 million of the facility may be used for the issuance of letters of credit .", "there were $ 2.6 million of letters of credit outstanding as of december 31 , 2016 .", "the credit agreement contains negative covenants that , subject to significant exceptions , limit the ability of the company and its subsidiaries to , among other things , incur additional indebtedness , make restricted payments , pledge their assets as security , make investments , loans , advances , guarantees and acquisitions , undergo fundamental changes and enter into transactions with affiliates .", "the company is also required to maintain a ratio of consolidated ebitda , as defined in the credit agreement , to consolidated interest expense of not less than 3.50 to 1.00 and is not permitted to allow the ratio of consolidated total indebtedness to consolidated ebitda to be greater than 3.25 to 1.00 ( 201cconsolidated leverage ratio 201d ) .", "as of december 31 , 2016 , the company was in compliance with these ratios .", "in addition , the credit agreement contains events of default that are customary for a facility of this nature , and includes a cross default provision whereby an event of default under other material indebtedness , as defined in the credit agreement , will be considered an event of default under the credit agreement .", "borrowings under the credit agreement bear interest at a rate per annum equal to , at the company 2019s option , either ( a ) an alternate base rate , or ( b ) a rate based on the rates applicable for deposits in the interbank market for u.s .", "dollars or the applicable currency in which the loans are made ( 201cadjusted libor 201d ) , plus in each case an applicable margin .", "the applicable margin for loans will ." ]

[ [ "2017", "$10,509" ], [ "2018", "9,346" ], [ "2019", "9,240" ], [ "2020", "7,201" ], [ "2021", "5,318" ], [ "2022 and thereafter", "16,756" ], [ "Amortization expense of intangible assets", "$58,370" ] ]

[ [ "2017", "$ 10509" ], [ "2018", "9346" ], [ "2019", "9240" ], [ "2020", "7201" ], [ "2021", "5318" ], [ "2022 and thereafter", "16756" ], [ "amortization expense of intangible assets", "$ 58370" ] ]

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

[ "." ]

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

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

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[ "dish network corporation notes to consolidated financial statements - continued future minimum lease payments under the capital lease obligations , together with the present value of the net minimum lease payments as of december 31 , 2015 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 , 2015 is included in the commitments table in note 15 .", "11 .", "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 on a separate return basis for each tax paying entity .", "as of december 31 , 2015 , we had no net operating loss carryforwards ( 201cnols 201d ) for federal income tax purposes and $ 39 million of nol benefit for state income tax purposes , which are partially offset by a valuation allowance .", "the state nols begin to expire in the year 2017 .", "in addition , there are $ 61 million of tax benefits related to credit carryforwards which are partially offset by a valuation allowance .", "the state credit carryforwards began to expire in ." ]

[ [ "2016", "$76,676" ], [ "2017", "75,874" ], [ "2018", "75,849" ], [ "2019", "50,320" ], [ "2020", "48,000" ], [ "Thereafter", "64,000" ], [ "Total minimum lease payments", "390,719" ], [ "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", "(186,742)" ], [ "Net minimum lease payments", "203,977" ], [ "Less: Amount representing interest", "(37,485)" ], [ "Present value of net minimum lease payments", "166,492" ], [ "Less: Current portion", "(30,849)" ], [ "Long-term portion of capital lease obligations", "$135,643" ] ]

[ [ "2016", "$ 76676" ], [ "2017", "75874" ], [ "2018", "75849" ], [ "2019", "50320" ], [ "2020", "48000" ], [ "thereafter", "64000" ], [ "total minimum lease payments", "390719" ], [ "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", "-186742 ( 186742 )" ], [ "net minimum lease payments", "203977" ], [ "less : amount representing interest", "-37485 ( 37485 )" ], [ "present value of net minimum lease payments", "166492" ], [ "less : current portion", "-30849 ( 30849 )" ], [ "long-term portion of capital lease obligations", "$ 135643" ] ]

[]

[ "cash flows from operations ." ]

[ "in fiscal 2018 , cash provided by operations was $ 2.8 billion compared to $ 2.4 billion in fiscal 2017 .", "the $ 426 million increase was primarily driven by the $ 462 million increase in net earnings and the $ 736 million change in current assets and liabilities , partially offset by a $ 688 million change in deferred income taxes .", "the change in deferred income taxes was primarily related to the $ 638 million provisional benefit from revaluing our net u.s .", "deferred tax liabilities to reflect the new u.s .", "corporate tax rate as a result of the tcja .", "the $ 736 million change in current assets and liabilities was primarily due to changes in accounts payable of $ 476 million related to the extension of payment terms and timing of payments , and $ 264 million of changes in other current liabilities primarily driven by changes in income taxes payable , trade and advertising accruals , and incentive accruals .", "we strive to grow core working capital at or below the rate of growth in our net sales .", "for fiscal 2018 , core working capital decreased 27 percent , compared to a net sales increase of 1 percent .", "in fiscal 2017 , core working capital increased 9 percent , compared to a net sales decline of 6 percent , and in fiscal 2016 , core working capital decreased 41 percent , compared to net sales decline of 6 percent .", "in fiscal 2017 , our operations generated $ 2.4 billion of cash , compared to $ 2.8 billion in fiscal 2016 .", "the $ 349 million decrease was primarily driven by a $ 493 million change in current assets and liabilities .", "the $ 493 million change in current assets and liabilities was primarily due to changes in other current liabilities driven by changes in income taxes payable , a decrease in incentive accruals , and changes in trade and advertising accruals due to reduced spending .", "the change in current assets and liabilities was also impacted by the timing of accounts payable .", "additionally , we recorded a $ 14 million loss on a divestiture during fiscal 2017 , compared to a $ 148 million net gain on divestitures during fiscal 2016 , and classified the related cash flows as investing activities. ." ]

[ [ "", "Fiscal Year" ], [ "In Millions", "2018", "2017", "2016" ], [ "Net earnings, including earnings attributable to redeemable and noncontrollinginterests", "$2,163.0", "$1,701.1", "$1,736.8" ], [ "Depreciation and amortization", "618.8", "603.6", "608.1" ], [ "After-taxearnings from joint ventures", "(84.7)", "(85.0)", "(88.4)" ], [ "Distributions of earnings from joint ventures", "113.2", "75.6", "75.1" ], [ "Stock-based compensation", "77.0", "95.7", "89.8" ], [ "Deferred income taxes", "(504.3)", "183.9", "120.6" ], [ "Pension and other postretirement benefit plan contributions", "(31.8)", "(45.4)", "(47.8)" ], [ "Pension and other postretirement benefit plan costs", "4.6", "35.7", "118.1" ], [ "Divestitures loss (gain)", "-", "13.5", "(148.2)" ], [ "Restructuring, impairment, and other exit costs", "126.0", "117.0", "107.2" ], [ "Changes in current assets and liabilities, excluding the effects of acquisitions anddivestitures", "542.1", "(194.2)", "298.5" ], [ "Other, net", "(182.9)", "(86.3)", "(105.6)" ], [ "Net cash provided by operating activities", "$2,841.0", "$2,415.2", "$2,764.2" ] ]

[ [ "in millions", "fiscal year 2018", "fiscal year 2017", "fiscal year 2016" ], [ "net earnings including earnings attributable to redeemable and noncontrollinginterests", "$ 2163.0", "$ 1701.1", "$ 1736.8" ], [ "depreciation and amortization", "618.8", "603.6", "608.1" ], [ "after-taxearnings from joint ventures", "-84.7 ( 84.7 )", "-85.0 ( 85.0 )", "-88.4 ( 88.4 )" ], [ "distributions of earnings from joint ventures", "113.2", "75.6", "75.1" ], [ "stock-based compensation", "77.0", "95.7", "89.8" ], [ "deferred income taxes", "-504.3 ( 504.3 )", "183.9", "120.6" ], [ "pension and other postretirement benefit plan contributions", "-31.8 ( 31.8 )", "-45.4 ( 45.4 )", "-47.8 ( 47.8 )" ], [ "pension and other postretirement benefit plan costs", "4.6", "35.7", "118.1" ], [ "divestitures loss ( gain )", "-", "13.5", "-148.2 ( 148.2 )" ], [ "restructuring impairment and other exit costs", "126.0", "117.0", "107.2" ], [ "changes in current assets and liabilities excluding the effects of acquisitions anddivestitures", "542.1", "-194.2 ( 194.2 )", "298.5" ], [ "other net", "-182.9 ( 182.9 )", "-86.3 ( 86.3 )", "-105.6 ( 105.6 )" ], [ "net cash provided by operating activities", "$ 2841.0", "$ 2415.2", "$ 2764.2" ] ]

[]

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

[ "the retail electric price variance is primarily due to the cessation of the interim storm recovery through the formula rate plan upon the act 55 financing of storm costs and a credit passed on to customers as a result of the act 55 storm cost financing , partially offset by increases in the formula rate plan effective october 2007 .", "refer to \"hurricane rita and hurricane katrina\" and \"state and local rate regulation\" below for a discussion of the interim recovery of storm costs , the act 55 storm cost financing , and the formula rate plan filing .", "the purchased power capacity variance is due to the amortization of deferred capacity costs effective september 2007 as a result of the formula rate plan filing in may 2007 .", "purchased power capacity costs are offset in base revenues due to a base rate increase implemented to recover incremental deferred and ongoing purchased power capacity charges .", "see \"state and local rate regulation\" below for a discussion of the formula rate plan filing .", "the net wholesale revenue variance is primarily due to provisions recorded for potential rate refunds related to the treatment of interruptible load in pricing entergy system affiliate sales .", "gross operating revenue and , fuel and purchased power expenses gross operating revenues increased primarily due to an increase of $ 364.7 million in fuel cost recovery revenues due to higher fuel rates offset by decreased usage .", "the increase was partially offset by a decrease of $ 56.8 million in gross wholesale revenue due to a decrease in system agreement rough production cost equalization credits .", "fuel and purchased power expenses increased primarily due to increases in the average market prices of natural gas and purchased power , partially offset by a decrease in the recovery from customers of deferred fuel costs. ." ]

[ [ "", "Amount (In Millions)" ], [ "2007 net revenue", "$991.1" ], [ "Retail electric price", "(17.1)" ], [ "Purchased power capacity", "(12.0)" ], [ "Net wholesale revenue", "(7.4)" ], [ "Other", "4.6" ], [ "2008 net revenue", "$959.2" ] ]

[ [ "", "amount ( in millions )" ], [ "2007 net revenue", "$ 991.1" ], [ "retail electric price", "-17.1 ( 17.1 )" ], [ "purchased power capacity", "-12.0 ( 12.0 )" ], [ "net wholesale revenue", "-7.4 ( 7.4 )" ], [ "other", "4.6" ], [ "2008 net revenue", "$ 959.2" ] ]

[ { "arg1": "959.2", "arg2": "991.1", "op": "minus2-1", "res": "-31.9" }, { "arg1": "#0", "arg2": "991.1", "op": "divide2-2", "res": "-34.3%" } ]

[ "the following table sets forth our refined products sales by product group and our average sales price for each of the last three years .", "refined product sales ( thousands of barrels per day ) 2009 2008 2007 ." ]

[ "we sell gasoline , gasoline blendstocks and no .", "1 and no .", "2 fuel oils ( including kerosene , jet fuel and diesel fuel ) to wholesale marketing customers in the midwest , upper great plains , gulf coast and southeastern regions of the united states .", "we sold 51 percent of our gasoline volumes and 87 percent of our distillates volumes on a wholesale or spot market basis in 2009 .", "the demand for gasoline is seasonal in many of our markets , with demand typically being at its highest levels during the summer months .", "we have blended ethanol into gasoline for over 20 years and began expanding our blending program in 2007 , in part due to federal regulations that require us to use specified volumes of renewable fuels .", "ethanol volumes sold in blended gasoline were 60 mbpd in 2009 , 54 mbpd in 2008 and 40 mbpd in 2007 .", "the future expansion or contraction of our ethanol blending program will be driven by the economics of the ethanol supply and by government regulations .", "we sell reformulated gasoline , which is also blended with ethanol , in parts of our marketing territory , including : chicago , illinois ; louisville , kentucky ; northern kentucky ; milwaukee , wisconsin , and hartford , illinois .", "we also sell biodiesel-blended diesel in minnesota , illinois and kentucky .", "we produce propane at all seven of our refineries .", "propane is primarily used for home heating and cooking , as a feedstock within the petrochemical industry , for grain drying and as a fuel for trucks and other vehicles .", "our propane sales are typically split evenly between the home heating market and industrial consumers .", "we are a producer and marketer of petrochemicals and specialty products .", "product availability varies by refinery and includes benzene , cumene , dilute naphthalene oil , molten maleic anhydride , molten sulfur , propylene , toluene and xylene .", "we market propylene , cumene and sulfur domestically to customers in the chemical industry .", "we sell maleic anhydride throughout the united states and canada .", "we also have the capacity to produce 1400 tons per day of anode grade coke at our robinson refinery , which is used to make carbon anodes for the aluminum smelting industry , and 5500 tons per day of fuel grade coke at the garyville refinery , which is used for power generation and in miscellaneous industrial applications .", "in early 2009 , we discontinued production and sales of petroleum pitch and aliphatic solvents at our catlettsburg refinery .", "we produce and market heavy residual fuel oil or related components at all seven of our refineries .", "another product of crude oil , heavy residual fuel oil , is primarily used in the utility and ship bunkering ( fuel ) industries , though there are other more specialized uses of the product .", "we have refinery based asphalt production capacity of up to 108 mbpd .", "we market asphalt through 33 owned or leased terminals throughout the midwest and southeast .", "we have a broad customer base , including approximately 675 asphalt-paving contractors , government entities ( states , counties , cities and townships ) and asphalt roofing shingle manufacturers .", "we sell asphalt in the wholesale and cargo markets via rail and barge .", "we also produce asphalt cements , polymer modified asphalt , emulsified asphalt and industrial asphalts .", "in 2007 , we acquired a 35 percent interest in an entity which owns and operates a 110-million-gallon-per-year ethanol production facility in clymers , indiana .", "we also own a 50 percent interest in an entity which owns a 110-million-gallon-per-year ethanol production facility in greenville , ohio .", "the greenville plant began production in february 2008 .", "both of these facilities are managed by a co-owner. ." ]

[ [ "<i>(Thousands of barrels per day)</i>", "2009", "2008", "2007" ], [ "Gasoline", "830", "756", "791" ], [ "Distillates", "357", "375", "377" ], [ "Propane", "23", "22", "23" ], [ "Feedstocks and special products", "75", "100", "103" ], [ "Heavy fuel oil", "24", "23", "29" ], [ "Asphalt", "69", "76", "87" ], [ "TOTAL", "1,378", "1,352", "1,410" ], [ "Average sales price (Dollars per barrel)", "$70.86", "$109.49", "$86.53" ] ]

[ [ "( thousands of barrels per day )", "2009", "2008", "2007" ], [ "gasoline", "830", "756", "791" ], [ "distillates", "357", "375", "377" ], [ "propane", "23", "22", "23" ], [ "feedstocks and special products", "75", "100", "103" ], [ "heavy fuel oil", "24", "23", "29" ], [ "asphalt", "69", "76", "87" ], [ "total", "1378", "1352", "1410" ], [ "average sales price ( dollars per barrel )", "$ 70.86", "$ 109.49", "$ 86.53" ] ]

[ { "arg1": "60", "arg2": "54", "op": "add2-1", "res": "114" }, { "arg1": "#0", "arg2": "40", "op": "add2-2", "res": "154" } ]

[ "entergy new orleans , inc .", "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 increased $ 4.9 million primarily due to lower other operation and maintenance expenses , lower taxes other than income taxes , a lower effective income tax rate , and lower interest expense , partially offset by lower net revenue .", "2010 compared to 2009 net income remained relatively unchanged , increasing $ 0.6 million , primarily due to higher net revenue and lower interest expense , almost entirely offset by higher other operation and maintenance expenses , higher taxes other than income taxes , lower other income , and higher depreciation and amortization 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 formula rate plan decreases effective october 2010 and october 2011 .", "see note 2 to the financial statements for a discussion of the formula rate plan filing .", "the net gas revenue variance is primarily due to milder weather in 2011 compared to 2010 .", "the gas cost recovery asset variance is primarily due to the recognition in 2010 of a $ 3 million gas operations regulatory asset associated with the settlement of entergy new orleans 2019s electric and gas formula rate plan case and the amortization of that asset .", "see note 2 to the financial statements for additional discussion of the formula rate plan settlement. ." ]

[ [ "", "Amount (In Millions)" ], [ "2010 net revenue", "$272.9" ], [ "Retail electric price", "(16.9)" ], [ "Net gas revenue", "(9.1)" ], [ "Gas cost recovery asset", "(3.0)" ], [ "Volume/weather", "5.4" ], [ "Other", "(2.3)" ], [ "2011 net revenue", "$247.0" ] ]

[ [ "", "amount ( in millions )" ], [ "2010 net revenue", "$ 272.9" ], [ "retail electric price", "-16.9 ( 16.9 )" ], [ "net gas revenue", "-9.1 ( 9.1 )" ], [ "gas cost recovery asset", "-3.0 ( 3.0 )" ], [ "volume/weather", "5.4" ], [ "other", "-2.3 ( 2.3 )" ], [ "2011 net revenue", "$ 247.0" ] ]

[ { "arg1": "247.0", "arg2": "272.9", "op": "minus2-1", "res": "-25.9" }, { "arg1": "-16.9", "arg2": "#0", "op": "divide2-2", "res": "65.3%" } ]

[ "table of contents notes to consolidated financial statements of american airlines group inc .", "secured financings are collateralized by assets , primarily aircraft , engines , simulators , rotable aircraft parts , airport leasehold rights , route authorities and airport slots .", "at december 31 , 2015 , the company was operating 35 aircraft under capital leases .", "leases can generally be renewed at rates based on fair market value at the end of the lease term for a number of additional years .", "at december 31 , 2015 , the maturities of long-term debt and capital lease obligations are as follows ( in millions ) : ." ]

[ "( a ) 2013 credit facilities on june 27 , 2013 , american and aag entered into a credit and guaranty agreement ( as amended , restated , amended and restated or otherwise modified , the 2013 credit agreement ) with deutsche bank ag new york branch , as administrative agent , and certain lenders that originally provided for a $ 1.9 billion term loan facility scheduled to mature on june 27 , 2019 ( the 2013 term loan facility ) and a $ 1.0 billion revolving credit facility scheduled to mature on june 27 , 2018 ( the 2013 revolving facility ) .", "the maturity of the term loan facility was subsequently extended to june 2020 and the revolving credit facility commitments were subsequently increased to $ 1.4 billion with an extended maturity date of october 10 , 2020 , all of which is further described below .", "on may 21 , 2015 , american amended and restated the 2013 credit agreement pursuant to which it refinanced the 2013 term loan facility ( the $ 1.9 billion 2015 term loan facility and , together with the 2013 revolving facility , the 2013 credit facilities ) to extend the maturity date to june 2020 and reduce the libor margin from 3.00% ( 3.00 % ) to 2.75% ( 2.75 % ) .", "in addition , american entered into certain amendments to reflect the ability for american to make future modifications to the collateral pledged , subject to certain restrictions .", "the $ 1.9 billion 2015 term loan facility is repayable in annual installments , with the first installment in an amount equal to 1.25% ( 1.25 % ) of the principal amount commencing on june 27 , 2016 and installments thereafter , in an amount equal to 1.0% ( 1.0 % ) of the principal amount , with any unpaid balance due on the maturity date .", "as of december 31 , 2015 , $ 1.9 billion of principal was outstanding under the $ 1.9 billion 2015 term loan facility .", "voluntary prepayments may be made by american at any time .", "on october 10 , 2014 , american and aag amended the 2013 credit agreement to extend the maturity date of the 2013 revolving facility to october 10 , 2019 and increased the commitments thereunder to an aggregate principal amount of $ 1.4 billion while reducing the letter of credit commitments thereunder to $ 300 million .", "on october 26 , 2015 , american , aag , us airways group and us airways amended the 2013 credit agreement to extend the maturity date of the 2013 revolving facility to october 10 , 2020 .", "the 2013 revolving facility provides that american may from time to time borrow , repay and reborrow loans thereunder and have letters of credit issued thereunder .", "as of december 31 , 2015 , there were no borrowings or letters of credit outstanding under the 2013 revolving facility .", "the 2013 credit facilities bear interest at an index rate plus an applicable index margin or , at american 2019s option , libor ( subject to a floor of 0.75% ( 0.75 % ) , with respect to the $ 1.9 billion 2015 term loan facility ) plus a libor margin of 3.00% ( 3.00 % ) with respect to the 2013 revolving facility and 2.75% ( 2.75 % ) with respect to the $ 1.9 billion 2015 term loan facility ; provided that american 2019s corporate credit rating is ba3 or higher from moody 2019s and bb- or higher from s&p , the applicable libor margin would be 2.50% ( 2.50 % ) for the $ 1.9 billion 2015 term loan ." ]

[ [ "2016", "$2,266" ], [ "2017", "1,598" ], [ "2018", "2,134" ], [ "2019", "3,378" ], [ "2020", "3,587" ], [ "2021 and thereafter", "7,844" ], [ "Total", "$20,807" ] ]

[ [ "2016", "$ 2266" ], [ "2017", "1598" ], [ "2018", "2134" ], [ "2019", "3378" ], [ "2020", "3587" ], [ "2021 and thereafter", "7844" ], [ "total", "$ 20807" ] ]

[]

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

[ "substantially all of the company 2019s u.s .", "employees are eligible to participate in a defined contribution savings plan ( the 201csavings plan 201d ) sponsored by the company .", "the savings plan allows employees to contribute a portion of their base compensation on a pre-tax and after-tax basis in accordance with specified guidelines .", "the company matches a percentage of employees 2019 contributions up to certain limits .", "in 2007 and prior years , the company could also contribute to the savings plan a discretionary profit sharing component linked to company performance during the prior year .", "beginning in 2008 , the discretionary profit sharing amount related to prior year company performance was paid directly to employees as a short-term cash incentive bonus rather than as a contribution to the savings plan .", "in addition , the company has several defined contribution plans outside of the united states .", "the company 2019s contribution expense related to all of its defined contribution plans was $ 40627 , $ 35341 and $ 26996 for 2009 , 2008 and 2007 , respectively .", "note 13 .", "postemployment and postretirement benefits the company maintains a postretirement plan ( the 201cpostretirement plan 201d ) providing health coverage and life insurance benefits for substantially all of its u.s .", "employees hired before july 1 , 2007 .", "the company amended the life insurance benefits under the postretirement plan effective january 1 , 2007 .", "the impact , net of taxes , of this amendment was an increase of $ 1715 to accumulated other comprehensive income in 2007 .", "in 2009 , the company recorded a $ 3944 benefit expense as a result of enhanced postretirement medical benefits under the postretirement plan provided to employees that chose to participate in a voluntary transition program. ." ]

[ [ "2010", "$18,181" ], [ "2011", "27,090" ], [ "2012", "21,548" ], [ "2013", "25,513" ], [ "2014", "24,002" ], [ "2015-2019", "128,494" ] ]

[ [ "2010", "$ 18181" ], [ "2011", "27090" ], [ "2012", "21548" ], [ "2013", "25513" ], [ "2014", "24002" ], [ "2015-2019", "128494" ] ]

[ { "arg1": "40627", "arg2": "35341", "op": "add2-1", "res": "75968" }, { "arg1": "26996", "arg2": "#0", "op": "add2-2", "res": "102964" }, { "arg1": "#1", "arg2": "const_3", "op": "divide2-3", "res": "34321.3" } ]

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

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

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

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

[ { "arg1": "6179", "arg2": "5829", "op": "minus1-1", "res": "350" }, { "arg1": "#0", "arg2": "5829", "op": "divide1-2", "res": "6.01%" } ]

[ "mill in the fourth quarter of 2008 .", "this compares with 635000 tons of total downtime in 2008 of which 305000 tons were lack-of-order downtime .", "printing papers in millions 2009 2008 2007 ." ]

[ "north american printing papers net sales in 2009 were $ 2.8 billion compared with $ 3.4 billion in 2008 and $ 3.5 billion in 2007 .", "operating earnings in 2009 were $ 746 million ( $ 307 million excluding alter- native fuel mixture credits and plant closure costs ) compared with $ 405 million ( $ 435 million excluding shutdown costs for a paper machine ) in 2008 and $ 415 million in 2007 .", "sales volumes decreased sig- nificantly in 2009 compared with 2008 reflecting weak customer demand and reduced production capacity resulting from the shutdown of a paper machine at the franklin mill in december 2008 and the conversion of the bastrop mill to pulp production in june 2008 .", "average sales price realizations were lower reflecting slight declines for uncoated freesheet paper in domestic markets and significant declines in export markets .", "margins were also unfavorably affected by a higher proportion of shipments to lower-margin export markets .", "input costs , however , were favorable due to lower wood and chemical costs and sig- nificantly lower energy costs .", "freight costs were also lower .", "planned maintenance downtime costs in 2009 were comparable with 2008 .", "operating costs were favorable , reflecting cost control efforts and strong machine performance .", "lack-of-order downtime increased to 525000 tons in 2009 , including 120000 tons related to the shutdown of a paper machine at our franklin mill in the 2008 fourth quarter , from 135000 tons in 2008 .", "operating earnings in 2009 included $ 671 million of alternative fuel mixture cred- its , $ 223 million of costs associated with the shutdown of our franklin mill and $ 9 million of other shutdown costs , while operating earnings in 2008 included $ 30 million of costs for the shutdown of a paper machine at our franklin mill .", "looking ahead to 2010 , first-quarter sales volumes are expected to increase slightly from fourth-quarter 2009 levels .", "average sales price realizations should be higher , reflecting the full-quarter impact of sales price increases announced in the fourth quarter for converting and envelope grades of uncoated free- sheet paper and an increase in prices to export markets .", "however , input costs for wood , energy and chemicals are expected to continue to increase .", "planned maintenance downtime costs should be lower and operating costs should be favorable .", "brazil ian papers net sales for 2009 of $ 960 mil- lion increased from $ 950 million in 2008 and $ 850 million in 2007 .", "operating profits for 2009 were $ 112 million compared with $ 186 million in 2008 and $ 174 million in 2007 .", "sales volumes increased in 2009 compared with 2008 for both paper and pulp reflect- ing higher export shipments .", "average sales price realizations were lower due to strong competitive pressures in the brazilian domestic market in the second half of the year , lower export prices and unfavorable foreign exchange rates .", "margins were unfavorably affected by a higher proportion of lower margin export sales .", "input costs for wood and chem- icals were favorable , but these benefits were partially offset by higher energy costs .", "planned maintenance downtime costs were lower , and operating costs were also favorable .", "earnings in 2009 were adversely impacted by unfavorable foreign exchange effects .", "entering 2010 , sales volumes are expected to be seasonally lower compared with the fourth quarter of 2009 .", "profit margins are expected to be slightly higher reflecting a more favorable geographic sales mix and improving sales price realizations in export markets , partially offset by higher planned main- tenance outage costs .", "european papers net sales in 2009 were $ 1.3 bil- lion compared with $ 1.7 billion in 2008 and $ 1.5 bil- lion in 2007 .", "operating profits in 2009 of $ 92 million ( $ 115 million excluding expenses associated with the closure of the inverurie mill ) compared with $ 39 mil- lion ( $ 146 million excluding a charge to reduce the carrying value of the fixed assets at the inverurie , scotland mill to their estimated realizable value ) in 2008 and $ 171 million in 2007 .", "sales volumes in 2009 were lower than in 2008 primarily due to reduced sales of uncoated freesheet paper following the closure of the inverurie mill in 2009 .", "average sales price realizations decreased significantly in 2009 across most of western europe , but margins increased in poland and russia reflecting the effect of local currency devaluations .", "input costs were favorable as lower wood costs , particularly in russia , were only partially offset by higher energy costs in poland and higher chemical costs .", "planned main- tenance downtime costs were higher in 2009 than in 2008 , while manufacturing operating costs were lower .", "operating profits in 2009 also reflect favorable foreign exchange impacts .", "looking ahead to 2010 , sales volumes are expected to decline from strong 2009 fourth-quarter levels despite solid customer demand .", "average sales price realizations are expected to increase over the quar- ter , primarily in eastern europe , as price increases ." ]

[ [ "<i>In millions</i>", "2009", "2008", "2007" ], [ "Sales", "$5,680", "$6,810", "$6,530" ], [ "Operating Profit", "1,091", "474", "839" ] ]

[ [ "in millions", "2009", "2008", "2007" ], [ "sales", "$ 5680", "$ 6810", "$ 6530" ], [ "operating profit", "1091", "474", "839" ] ]

[ { "arg1": "3.4", "arg2": "const_1000", "op": "multiply2-1", "res": "3400" }, { "arg1": "#0", "arg2": "6810", "op": "divide2-2", "res": "50%" } ]

[ "as of december 31 , 2017 , the aggregate future minimum payments under non-cancelable operating leases consist of the following ( in thousands ) : years ending december 31 ." ]

[ "rent expense for all operating leases amounted to $ 9.4 million , $ 8.1 million and $ 5.4 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .", "financing obligation 2014build-to-suit lease in august 2012 , we executed a lease for a building then under construction in santa clara , california to serve as our headquarters .", "the lease term is 120 months and commenced in august 2013 .", "based on the terms of the lease agreement and due to our involvement in certain aspects of the construction , we were deemed the owner of the building ( for accounting purposes only ) during the construction period .", "upon completion of construction in 2013 , we concluded that we had forms of continued economic involvement in the facility , and therefore did not meet with the provisions for sale-leaseback accounting .", "we continue to maintain involvement in the property post construction and lack transferability of the risks and rewards of ownership , due to our required maintenance of a $ 4.0 million letter of credit , in addition to our ability and option to sublease our portion of the leased building for fees substantially higher than our base rate .", "therefore , the lease is accounted for as a financing obligation and lease payments will be attributed to ( 1 ) a reduction of the principal financing obligation ; ( 2 ) imputed interest expense ; and ( 3 ) land lease expense , representing an imputed cost to lease the underlying land of the building .", "at the conclusion of the initial lease term , we will de-recognize both the net book values of the asset and the remaining financing obligation .", "as of december 31 , 2017 and 2016 , we have recorded assets of $ 53.4 million , representing the total costs of the building and improvements incurred , including the costs paid by the lessor ( the legal owner of the building ) and additional improvement costs paid by us , and a corresponding financing obligation of $ 39.6 million and $ 41.2 million , respectively .", "as of december 31 , 2017 , $ 1.9 million and $ 37.7 million were recorded as short-term and long-term financing obligations , respectively .", "land lease expense under our lease financing obligation amounted to $ 1.3 million for each of the years ended december 31 , 2017 , 2016 and 2015 respectively. ." ]

[ [ "2018", "$9,127" ], [ "2019", "8,336" ], [ "2020", "8,350" ], [ "2021", "7,741" ], [ "2022", "7,577" ], [ "Thereafter", "9,873" ], [ "Total minimum future lease payments", "$51,004" ] ]

[ [ "2018", "$ 9127" ], [ "2019", "8336" ], [ "2020", "8350" ], [ "2021", "7741" ], [ "2022", "7577" ], [ "thereafter", "9873" ], [ "total minimum future lease payments", "$ 51004" ] ]

[ { "arg1": "9.4", "arg2": "8.1", "op": "add2-1", "res": "17.5" }, { "arg1": "#0", "arg2": "5.4", "op": "add2-2", "res": "22.9" } ]

[ "108 / sl green realty corp .", "2017 annual report espp provides for eligible employees to purchase the common stock at a purchase price equal to 85% ( 85 % ) of the lesser of ( 1 ) a0the market value of the common stock on the first day of the offer- ing period or ( 2 ) a0the market value of the common stock on the last day of the offering period .", "the espp was approved by our stockholders at our 2008 annual meeting of stockholders .", "as of december a031 , 2017 , 104597 a0shares of our common stock had been issued under the espp .", "available for issuance , subject to adjustment upon a merger , reorganization , stock split or other similar corporate change .", "the company filed a registration statement on form a0s-8 with the sec with respect to the espp .", "the common stock is offered for purchase through a series of successive offering periods .", "each offering period will be three months in duration and will begin on the first day of each calendar quarter , with the first a0offering period having commenced on january a01 , 2008 .", "the 15 .", "accumulated other comprehensive income the following tables set forth the changes in accumulated other comprehensive income ( loss ) by component as of december a031 , 2017 , 2016 and 2015 ( in thousands ) : sl a0green 2019s share net unrealized of joint venture net unrealized gain on net unrealized gain on derivative gain on derivative marketable instruments ( 1 ) instruments ( 2 ) securities total ." ]

[ "( 1 ) amount reclassified from accumulated other comprehensive income ( loss ) is included in interest expense in the respective consolidated statements of operations .", "as of december a031 , 2017 and 2016 , the deferred net losses from these terminated hedges , which is included in accumulated other comprehensive loss relating to net unrealized loss on derivative instrument , was $ 3.2 a0million and $ 7.1 a0million , respectively .", "( 2 ) amount reclassified from accumulated other comprehensive income ( loss ) is included in equity in net income from unconsolidated joint ventures in the respective consolidated statements of operations .", "16 .", "fair value measurements we are required to disclose fair value information with regard to our financial instruments , whether or not recognized in the consolidated balance sheets , for which it is practical to estimate fair value .", "the fasb guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date .", "we measure and/or disclose the estimated fair value of financial assets and liabilities based on a hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity and the reporting entity 2019s own assumptions about market participant assumptions .", "this hierarchy consists of three broad levels : level a01 2014 quoted prices ( unadjusted ) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date ; level a02 2014 inputs other than quoted prices included within level a01 , that are observable for the asset or liability , either directly or indirectly ; and level a03 2014 unobservable inputs for the asset or liability that are used when little or no market data is available .", "we follow this hierarchy for our assets and liabilities measured at fair value on a recurring and nonrecurring basis .", "in instances in which the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy , the level in the fair value hierarchy within which the entire fair value measure- ment falls is based on the lowest level of input that is significant to the fair value measurement in its entirety .", "our assessment of the significance of the particular input to the fair value mea- surement in its entirety requires judgment and considers factors specific to the asset or liability. ." ]

[ [ "", "Net unrealized gain on derivative instruments⁽¹⁾", "SL Green’s share of joint venture net unrealized gain on derivative instruments⁽²⁾", "Net unrealized gain on marketable securities", "Total" ], [ "Balance at December 31, 2014", "$(9,498)", "$(95)", "$2,613", "$(6,980)" ], [ "Other comprehensive loss before reclassifications", "(11,143)", "(1,714)", "(610)", "(13,467)" ], [ "Amounts reclassified from accumulated other comprehensive income", "10,481", "1,217", "—", "11,698" ], [ "Balance at December 31, 2015", "(10,160)", "(592)", "2,003", "(8,749)" ], [ "Other comprehensive income before reclassifications", "13,534", "1,160", "3,517", "18,211" ], [ "Amounts reclassified from accumulated other comprehensive income", "9,222", "3,453", "—", "12,675" ], [ "Balance at December 31, 2016", "12,596", "4,021", "5,520", "22,137" ], [ "Other comprehensive (loss) income before reclassifications", "(1,618)", "233", "(1,348)", "(2,733)" ], [ "Amounts reclassified from accumulated other comprehensive income", "1,564", "766", "(3,130)", "(800)" ], [ "Balance at December 31, 2017", "$12,542", "$5,020", "$1,042", "$18,604" ] ]

[ [ "", "net unrealized gain on derivative instruments ( 1 )", "sl green 2019s share of joint venture net unrealized gain on derivative instruments ( 2 )", "net unrealized gain on marketable securities", "total" ], [ "balance at december 31 2014", "$ -9498 ( 9498 )", "$ -95 ( 95 )", "$ 2613", "$ -6980 ( 6980 )" ], [ "other comprehensive loss before reclassifications", "-11143 ( 11143 )", "-1714 ( 1714 )", "-610 ( 610 )", "-13467 ( 13467 )" ], [ "amounts reclassified from accumulated other comprehensive income", "10481", "1217", "2014", "11698" ], [ "balance at december 31 2015", "-10160 ( 10160 )", "-592 ( 592 )", "2003", "-8749 ( 8749 )" ], [ "other comprehensive income before reclassifications", "13534", "1160", "3517", "18211" ], [ "amounts reclassified from accumulated other comprehensive income", "9222", "3453", "2014", "12675" ], [ "balance at december 31 2016", "12596", "4021", "5520", "22137" ], [ "other comprehensive ( loss ) income before reclassifications", "-1618 ( 1618 )", "233", "-1348 ( 1348 )", "-2733 ( 2733 )" ], [ "amounts reclassified from accumulated other comprehensive income", "1564", "766", "-3130 ( 3130 )", "-800 ( 800 )" ], [ "balance at december 31 2017", "$ 12542", "$ 5020", "$ 1042", "$ 18604" ] ]

[]

[ "pipeline transportation 2013 we own a system of pipelines through marathon pipe line llc ( 201cmpl 201d ) and ohio river pipe line llc ( 201corpl 201d ) , our wholly-owned subsidiaries .", "our pipeline systems transport crude oil and refined products primarily in the midwest and gulf coast regions to our refineries , our terminals and other pipeline systems .", "our mpl and orpl wholly-owned and undivided interest common carrier systems consist of 1737 miles of crude oil lines and 1825 miles of refined product lines comprising 32 systems located in 11 states .", "the mpl common carrier pipeline network is one of the largest petroleum pipeline systems in the united states , based on total barrels delivered .", "our common carrier pipeline systems are subject to state and federal energy regulatory commission regulations and guidelines , including published tariffs for the transportation of crude oil and refined products .", "third parties generated 13 percent of the crude oil and refined product shipments on our mpl and orpl common carrier pipelines in 2009 .", "our mpl and orpl common carrier pipelines transported the volumes shown in the following table for each of the last three years .", "pipeline barrels handled ( thousands of barrels per day ) 2009 2008 2007 ." ]

[ "we also own 196 miles of private crude oil pipelines and 850 miles of private refined products pipelines , and we lease 217 miles of common carrier refined product pipelines .", "we have partial ownership interests in several pipeline companies that have approximately 780 miles of crude oil pipelines and 3600 miles of refined products pipelines , including about 970 miles operated by mpl .", "in addition , mpl operates most of our private pipelines and 985 miles of crude oil and 160 miles of natural gas pipelines owned by our e&p segment .", "our major refined product pipelines include the owned and operated cardinal products pipeline and the wabash pipeline .", "the cardinal products pipeline delivers refined products from kenova , west virginia , to columbus , ohio .", "the wabash pipeline system delivers product from robinson , illinois , to various terminals in the area of chicago , illinois .", "other significant refined product pipelines owned and operated by mpl extend from : robinson , illinois , to louisville , kentucky ; garyville , louisiana , to zachary , louisiana ; and texas city , texas , to pasadena , texas .", "in addition , as of december 31 , 2009 , we had interests in the following refined product pipelines : 2022 65 percent undivided ownership interest in the louisville-lexington system , a petroleum products pipeline system extending from louisville to lexington , kentucky ; 2022 60 percent interest in muskegon pipeline llc , which owns a refined products pipeline extending from griffith , indiana , to north muskegon , michigan ; 2022 50 percent interest in centennial pipeline llc , which owns a refined products system connecting the gulf coast region with the midwest market ; 2022 17 percent interest in explorer pipeline company , a refined products pipeline system extending from the gulf coast to the midwest ; and 2022 6 percent interest in wolverine pipe line company , a refined products pipeline system extending from chicago , illinois , to toledo , ohio .", "our major owned and operated crude oil lines run from : patoka , illinois , to catlettsburg , kentucky ; patoka , illinois , to robinson , illinois ; patoka , illinois , to lima , ohio ; lima , ohio to canton , ohio ; samaria , michigan , to detroit , michigan ; and st .", "james , louisiana , to garyville , louisiana .", "as of december 31 , 2009 , we had interests in the following crude oil pipelines : 2022 51 percent interest in loop llc , the owner and operator of loop , which is the only u.s .", "deepwater oil port , located 18 miles off the coast of louisiana , and a crude oil pipeline connecting the port facility to storage caverns and tanks at clovelly , louisiana ; 2022 59 percent interest in locap llc , which owns a crude oil pipeline connecting loop and the capline system; ." ]

[ [ "<i>(Thousands of barrels per day)</i>", "2009", "2008", "2007" ], [ "Crude oil trunk lines", "1,279", "1,405", "1,451" ], [ "Refined products trunk lines", "953", "960", "1,049" ], [ "TOTAL", "2,232", "2,365", "2,500" ] ]

[ [ "( thousands of barrels per day )", "2009", "2008", "2007" ], [ "crude oil trunk lines", "1279", "1405", "1451" ], [ "refined products trunk lines", "953", "960", "1049" ], [ "total", "2232", "2365", "2500" ] ]

[ { "arg1": "953", "arg2": "960", "op": "add1-1", "res": "1913" }, { "arg1": "#0", "arg2": "1049", "op": "add1-2", "res": "2962" } ]

[ "nbcuniversal media , llc consolidated statement of comprehensive income ." ]

[ "see accompanying notes to consolidated financial statements .", "147 comcast 2015 annual report on form 10-k ." ]

[ [ "Year ended December 31 (in millions)", "2015", "2014", "2013" ], [ "Net income", "$3,624", "$3,297", "$2,122" ], [ "Deferred gains (losses) on cash flow hedges, net", "(21)", "25", "(5)" ], [ "Employee benefit obligations, net", "60", "(106)", "95" ], [ "Currency translation adjustments, net", "(121)", "(62)", "(41)" ], [ "Comprehensive income", "3,542", "3,154", "2,171" ], [ "Net (income) loss attributable to noncontrolling interests", "(210)", "(182)", "(154)" ], [ "Other comprehensive (income) loss attributable to noncontrolling interests", "29", "—", "—" ], [ "Comprehensive income attributable to NBCUniversal", "$3,361", "$2,972", "$2,017" ] ]

[ [ "year ended december 31 ( in millions )", "2015", "2014", "2013" ], [ "net income", "$ 3624", "$ 3297", "$ 2122" ], [ "deferred gains ( losses ) on cash flow hedges net", "-21 ( 21 )", "25", "-5 ( 5 )" ], [ "employee benefit obligations net", "60", "-106 ( 106 )", "95" ], [ "currency translation adjustments net", "-121 ( 121 )", "-62 ( 62 )", "-41 ( 41 )" ], [ "comprehensive income", "3542", "3154", "2171" ], [ "net ( income ) loss attributable to noncontrolling interests", "-210 ( 210 )", "-182 ( 182 )", "-154 ( 154 )" ], [ "other comprehensive ( income ) loss attributable to noncontrolling interests", "29", "2014", "2014" ], [ "comprehensive income attributable to nbcuniversal", "$ 3361", "$ 2972", "$ 2017" ] ]

[ { "arg1": "2972", "arg2": "2017", "op": "minus1-1", "res": "955" }, { "arg1": "#0", "arg2": "2017", "op": "divide1-2", "res": "47%" } ]

[ "remitted to the u.s .", "due to foreign tax credits and exclusions that may become available at the time of remittance .", "at december 31 , 2010 , aon had domestic federal operating loss carryforwards of $ 56 million that will expire at various dates from 2011 to 2024 , state operating loss carryforwards of $ 610 million that will expire at various dates from 2011 to 2031 , and foreign operating and capital loss carryforwards of $ 720 million and $ 251 million , respectively , nearly all of which are subject to indefinite carryforward .", "unrecognized tax provisions the following is a reconciliation of the company 2019s beginning and ending amount of unrecognized tax benefits ( in millions ) : ." ]

[ "as of december 31 , 2010 , $ 85 million of unrecognized tax benefits would impact the effective tax rate if recognized .", "aon does not expect the unrecognized tax positions to change significantly over the next twelve months , except for a potential reduction of unrecognized tax benefits in the range of $ 10-$ 15 million relating to anticipated audit settlements .", "the company recognizes penalties and interest related to unrecognized income tax benefits in its provision for income taxes .", "aon accrued potential penalties of less than $ 1 million during each of 2010 , 2009 and 2008 .", "aon accrued interest of less than $ 1 million in 2010 , $ 2 million during 2009 and less than $ 1 million in 2008 .", "aon has recorded a liability for penalties of $ 5 million and for interest of $ 18 million for both december 31 , 2010 and 2009 .", "aon and its subsidiaries file income tax returns in the u.s .", "federal jurisdiction as well as various state and international jurisdictions .", "aon has substantially concluded all u.s .", "federal income tax matters for years through 2006 .", "material u.s .", "state and local income tax jurisdiction examinations have been concluded for years through 2002 .", "aon has concluded income tax examinations in its primary international jurisdictions through 2004. ." ]

[ [ "", "2010", "2009" ], [ "Balance at January 1", "$77", "$86" ], [ "Additions based on tax positions related to the current year", "7", "2" ], [ "Additions for tax positions of prior years", "4", "5" ], [ "Reductions for tax positions of prior years", "(7)", "(11)" ], [ "Settlements", "(1)", "(10)" ], [ "Lapse of statute of limitations", "(5)", "(3)" ], [ "Acquisitions", "26", "6" ], [ "Foreign currency translation", "(1)", "2" ], [ "Balance at December 31", "$100", "$77" ] ]

[ [ "", "2010", "2009" ], [ "balance at january 1", "$ 77", "$ 86" ], [ "additions based on tax positions related to the current year", "7", "2" ], [ "additions for tax positions of prior years", "4", "5" ], [ "reductions for tax positions of prior years", "-7 ( 7 )", "-11 ( 11 )" ], [ "settlements", "-1 ( 1 )", "-10 ( 10 )" ], [ "lapse of statute of limitations", "-5 ( 5 )", "-3 ( 3 )" ], [ "acquisitions", "26", "6" ], [ "foreign currency translation", "-1 ( 1 )", "2" ], [ "balance at december 31", "$ 100", "$ 77" ] ]

[]

[ "entergy corporation and subsidiaries management 2019s financial discussion and analysis the volume/weather variance is primarily due to an increase of 1402 gwh , or 1% ( 1 % ) , in billed electricity usage , including an increase in industrial usage and the effect of more favorable weather .", "the increase in industrial sales was primarily due to expansion in the chemicals industry and the addition of new customers , partially offset by decreased demand primarily due to extended maintenance outages for existing chemicals customers .", "the waterford 3 replacement steam generator provision is due to a regulatory charge of approximately $ 32 million recorded in 2015 related to the uncertainty associated with the resolution of the waterford 3 replacement steam generator project .", "see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding .", "the miso deferral variance is primarily due to the deferral in 2014 of non-fuel miso-related charges , as approved by the lpsc and the mpsc .", "the deferral of non-fuel miso-related charges is partially offset in other operation and maintenance expenses .", "see note 2 to the financial statements for further discussion of the recovery of non-fuel miso-related charges .", "the louisiana business combination customer credits variance is due to a regulatory liability of $ 107 million recorded by entergy in october 2015 as a result of the entergy gulf states louisiana and entergy louisiana business combination .", "consistent with the terms of the stipulated settlement in the business combination proceeding , electric customers of entergy louisiana will realize customer credits associated with the business combination ; accordingly , in october 2015 , entergy recorded a regulatory liability of $ 107 million ( $ 66 million net-of-tax ) .", "see note 2 to the financial statements for further discussion of the business combination and customer credits .", "entergy wholesale commodities following is an analysis of the change in net revenue comparing 2015 to 2014 .", "amount ( in millions ) ." ]

[ "as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 558 million in 2016 primarily due to : 2022 lower realized wholesale energy prices , primarily due to significantly higher northeast market power prices in 2014 , and lower capacity prices in 2015 ; and 2022 a decrease in net revenue as a result of vermont yankee ceasing power production in december 2014 .", "the decrease was partially offset by higher volume in the entergy wholesale commodities nuclear fleet , excluding vermont yankee , resulting from fewer refueling outage days in 2015 as compared to 2014 , partially offset by more unplanned outage days in 2015 as compared to 2014. ." ]

[ [ "", "Amount (In Millions)" ], [ "2014 net revenue", "$2,224" ], [ "Nuclear realized price changes", "(310)" ], [ "Vermont Yankee shutdown in December 2014", "(305)" ], [ "Nuclear volume, excluding Vermont Yankee effect", "20" ], [ "Other", "37" ], [ "2015 net revenue", "$1,666" ] ]

[ [ "", "amount ( in millions )" ], [ "2014 net revenue", "$ 2224" ], [ "nuclear realized price changes", "-310 ( 310 )" ], [ "vermont yankee shutdown in december 2014", "-305 ( 305 )" ], [ "nuclear volume excluding vermont yankee effect", "20" ], [ "other", "37" ], [ "2015 net revenue", "$ 1666" ] ]

[]

[ "the following is a schedule of future minimum rental payments required under long-term operating leases at october 30 , 2010 : fiscal years operating leases ." ]

[ "12 .", "commitments and contingencies from time to time in the ordinary course of the company 2019s business , various claims , charges and litigation are asserted or commenced against the company arising from , or related to , contractual matters , patents , trademarks , personal injury , environmental matters , product liability , insurance coverage and personnel and employment disputes .", "as to such claims and litigation , the company can give no assurance that it will prevail .", "the company does not believe that any current legal matters will have a material adverse effect on the company 2019s financial position , results of operations or cash flows .", "13 .", "retirement plans the company and its subsidiaries have various savings and retirement plans covering substantially all employees .", "the company maintains a defined contribution plan for the benefit of its eligible u.s .", "employees .", "this plan provides for company contributions of up to 5% ( 5 % ) of each participant 2019s total eligible compensation .", "in addition , the company contributes an amount equal to each participant 2019s pre-tax contribution , if any , up to a maximum of 3% ( 3 % ) of each participant 2019s total eligible compensation .", "the total expense related to the defined contribution plan for u.s .", "employees was $ 20.5 million in fiscal 2010 , $ 21.5 million in fiscal 2009 and $ 22.6 million in fiscal 2008 .", "the company also has various defined benefit pension and other retirement plans for certain non-u.s .", "employees that are consistent with local statutory requirements and practices .", "the total expense related to the various defined benefit pension and other retirement plans for certain non-u.s .", "employees was $ 11.7 million in fiscal 2010 , $ 10.9 million in fiscal 2009 and $ 13.9 million in fiscal 2008 .", "during fiscal 2009 , the measurement date of the plan 2019s funded status was changed from september 30 to the company 2019s fiscal year end .", "non-u.s .", "plan disclosures the company 2019s funding policy for its foreign defined benefit pension plans is consistent with the local requirements of each country .", "the plans 2019 assets consist primarily of u.s .", "and non-u.s .", "equity securities , bonds , property and cash .", "the benefit obligations and related assets under these plans have been measured at october 30 , 2010 and october 31 , 2009 .", "analog devices , inc .", "notes to consolidated financial statements 2014 ( continued ) ." ]

[ [ "Fiscal Years", "Operating Leases" ], [ "2011", "$21,871" ], [ "2012", "12,322" ], [ "2013", "9,078" ], [ "2014", "6,381" ], [ "2015", "5,422" ], [ "Later Years", "30,655" ], [ "Total", "$85,729" ] ]

[ [ "fiscal years", "operating leases" ], [ "2011", "$ 21871" ], [ "2012", "12322" ], [ "2013", "9078" ], [ "2014", "6381" ], [ "2015", "5422" ], [ "later years", "30655" ], [ "total", "$ 85729" ] ]

[ { "arg1": "11.7", "arg2": "10.9", "op": "minus2-1", "res": "0.8" }, { "arg1": "#0", "arg2": "10.9", "op": "divide2-2", "res": "7.3%" } ]

[ "( 2 ) for purposes of calculating the ratio of earnings to fixed charges , earnings consist of earnings before income taxes minus income from equity investees plus fixed charges .", "fixed charges consist of interest expense and the portion of rental expense we believe is representative of the interest component of rental expense .", "( a ) for the years ended december 31 , 2010 and 2009 , earnings available for fixed charges were inadequate to cover fixed charges by $ 37.0 million and $ 461.2 million , respectively .", "( 3 ) ebitda is defined as consolidated net income ( loss ) before interest expense , income tax expense ( benefit ) , depreciation , and amortization .", "adjusted ebitda , which is a measure defined in our credit agreements , is calculated by adjusting ebitda for certain items of income and expense including ( but not limited to ) the following : ( a ) non-cash equity-based compensation ; ( b ) goodwill impairment charges ; ( c ) sponsor fees ; ( d ) certain consulting fees ; ( e ) debt-related legal and accounting costs ; ( f ) equity investment income and losses ; ( g ) certain severance and retention costs ; ( h ) gains and losses from the early extinguishment of debt ; ( i ) gains and losses from asset dispositions outside the ordinary course of business ; and ( j ) non-recurring , extraordinary or unusual gains or losses or expenses .", "we have included a reconciliation of ebitda and adjusted ebitda in the table below .", "both ebitda and adjusted ebitda are considered non-gaap financial measures .", "generally , a non-gaap financial measure is a numerical measure of a company 2019s performance , financial position or cash flows that either excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with gaap .", "non-gaap measures used by the company may differ from similar measures used by other companies , even when similar terms are used to identify such measures .", "we believe that ebitda and adjusted ebitda provide helpful information with respect to our operating performance and cash flows including our ability to meet our future debt service , capital expenditures and working capital requirements .", "adjusted ebitda also provides helpful information as it is the primary measure used in certain financial covenants contained in our credit agreements .", "the following unaudited table sets forth reconciliations of net income ( loss ) to ebitda and ebitda to adjusted ebitda for the periods presented: ." ]

[ "( i ) relates to unusual , non-recurring litigation matters .", "( ii ) includes certain retention costs and equity investment income , certain severance costs in 2009 and a gain related to the sale of the informacast software and equipment in 2009. ." ]

[ [ "", "Years Ended December 31," ], [ "(in millions)", "2013", "2012", "2011", "2010", "2009" ], [ "Net income (loss)", "$132.8", "$119.0", "$17.1", "$(29.2)", "$(373.4)" ], [ "Depreciation and amortization", "208.2", "210.2", "204.9", "209.4", "218.2" ], [ "Income tax expense (benefit)", "62.7", "67.1", "11.2", "(7.8)", "(87.8)" ], [ "Interest expense, net", "250.1", "307.4", "324.2", "391.9", "431.7" ], [ "EBITDA", "653.8", "703.7", "557.4", "564.3", "188.7" ], [ "Non-cash equity-based compensation", "8.6", "22.1", "19.5", "11.5", "15.9" ], [ "Sponsor fees", "2.5", "5.0", "5.0", "5.0", "5.0" ], [ "Consulting and debt-related professional fees", "0.1", "0.6", "5.1", "15.1", "14.1" ], [ "Goodwill impairment", "—", "—", "—", "—", "241.8" ], [ "Net loss (gain) on extinguishments of long-term debt", "64.0", "17.2", "118.9", "(2.0)", "—" ], [ "Litigation, net⁽ⁱ⁾", "(4.1)", "4.3", "—", "—", "—" ], [ "IPO- and secondary-offering related expenses", "75.0", "—", "—", "—", "—" ], [ "Other adjustments⁽ⁱⁱ⁾", "8.6", "13.7", "11.4", "7.9", "(0.1)" ], [ "Adjusted EBITDA", "$808.5", "$766.6", "$717.3", "$601.8", "$465.4" ] ]

[ [ "( in millions )", "years ended december 31 , 2013", "years ended december 31 , 2012", "years ended december 31 , 2011", "years ended december 31 , 2010", "years ended december 31 , 2009" ], [ "net income ( loss )", "$ 132.8", "$ 119.0", "$ 17.1", "$ -29.2 ( 29.2 )", "$ -373.4 ( 373.4 )" ], [ "depreciation and amortization", "208.2", "210.2", "204.9", "209.4", "218.2" ], [ "income tax expense ( benefit )", "62.7", "67.1", "11.2", "-7.8 ( 7.8 )", "-87.8 ( 87.8 )" ], [ "interest expense net", "250.1", "307.4", "324.2", "391.9", "431.7" ], [ "ebitda", "653.8", "703.7", "557.4", "564.3", "188.7" ], [ "non-cash equity-based compensation", "8.6", "22.1", "19.5", "11.5", "15.9" ], [ "sponsor fees", "2.5", "5.0", "5.0", "5.0", "5.0" ], [ "consulting and debt-related professional fees", "0.1", "0.6", "5.1", "15.1", "14.1" ], [ "goodwill impairment", "2014", "2014", "2014", "2014", "241.8" ], [ "net loss ( gain ) on extinguishments of long-term debt", "64.0", "17.2", "118.9", "-2.0 ( 2.0 )", "2014" ], [ "litigation net ( i )", "-4.1 ( 4.1 )", "4.3", "2014", "2014", "2014" ], [ "ipo- and secondary-offering related expenses", "75.0", "2014", "2014", "2014", "2014" ], [ "other adjustments ( ii )", "8.6", "13.7", "11.4", "7.9", "-0.1 ( 0.1 )" ], [ "adjusted ebitda", "$ 808.5", "$ 766.6", "$ 717.3", "$ 601.8", "$ 465.4" ] ]

[ { "arg1": "67.1", "arg2": "119.0", "op": "add2-1", "res": "186.1" }, { "arg1": "67.1", "arg2": "#0", "op": "divide2-2", "res": "36%" } ]

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

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

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

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

[ { "arg1": "196462", "arg2": "116677", "op": "minus1-1", "res": "79785" }, { "arg1": "#0", "arg2": "116677", "op": "divide1-2", "res": "68.4%" } ]

[ "abiomed , inc .", "and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 12 .", "stock award plans and stock based compensation ( continued ) compensation expense recognized related to the company 2019s espp was approximately $ 0.1 million for each of the years ended march 31 , 2009 , 2008 and 2007 respectively .", "the fair value of shares issued under the employee stock purchase plan was estimated on the commencement date of each offering period using the black-scholes option-pricing model with the following assumptions: ." ]

[ "note 13 .", "capital stock in august 2008 , the company issued 2419932 shares of its common stock at a price of $ 17.3788 in a public offering , which resulted in net proceeds to the company of approximately $ 42.0 million , after deducting offering expenses .", "in march 2007 , the company issued 5000000 shares of common stock in a public offering , and in april 2007 , an additional 80068 shares of common stock were issued in connection with the offering upon the partial exercise of the underwriters 2019 over-allotment option .", "the company has authorized 1000000 shares of class b preferred stock , $ 0.01 par value , of which the board of directors can set the designation , rights and privileges .", "no shares of class b preferred stock have been issued or are outstanding .", "note 14 .", "income taxes deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to tax benefit carryforwards and to differences between the financial statement amounts of assets and liabilities and their respective tax basis .", "deferred tax assets and liabilities are measured using enacted tax rates .", "a valuation reserve is established if it is more likely than not that all or a portion of the deferred tax asset will not be realized .", "the tax benefit associated with the stock option compensation deductions will be credited to equity when realized .", "at march 31 , 2009 , the company had federal and state net operating loss carryforwards , or nols , of approximately $ 145.1 million and $ 97.1 million , respectively , which begin to expire in fiscal 2010 .", "additionally , at march 31 , 2009 , the company had federal and state research and development credit carryforwards of approximately $ 8.1 million and $ 4.2 million , respectively , which begin to expire in fiscal 2010 .", "the company acquired impella , a german-based company , in may 2005 .", "impella had pre-acquisition net operating losses of approximately $ 18.2 million at the time of acquisition ( which is denominated in euros and is subject to foreign exchange remeasurement at each balance sheet date presented ) , and has since incurred net operating losses in each fiscal year since the acquisition .", "during fiscal 2008 , the company determined that approximately $ 1.2 million of pre-acquisition operating losses could not be utilized .", "the utilization of pre-acquisition net operating losses of impella in future periods is subject to certain statutory approvals and business requirements .", "due to uncertainties surrounding the company 2019s ability to generate future taxable income to realize these assets , a full valuation allowance has been established to offset the company 2019s net deferred tax assets and liabilities .", "additionally , the future utilization of the company 2019s nol and research and development credit carry forwards to offset future taxable income may be subject to a substantial annual limitation under section 382 of the internal revenue code due to ownership changes that have occurred previously or that could occur in the future .", "ownership changes , as defined in section 382 of the internal revenue code , can limit the amount of net operating loss carry forwards and research and development credit carry forwards that a company can use each year to offset future taxable income and taxes payable .", "the company believes that all of its federal and state nol 2019s will be available for carryforward to future tax periods , subject to the statutory maximum carryforward limitation of any annual nol .", "any future potential limitation to all or a portion of the nol or research and development credit carry forwards , before they can be utilized , would reduce the company 2019s gross deferred tax assets .", "the company will monitor subsequent ownership changes , which could impose limitations in the future. ." ]

[ [ "", "2009", "2008", "2007" ], [ "Risk-free interest rate", "1.01%", "4.61%", "4.84%" ], [ "Expected life (years)", "0.5", "0.5", "0.5" ], [ "Expected volatility", "67.2%", "45.2%", "39.8%" ] ]

[ [ "", "2009", "2008", "2007" ], [ "risk-free interest rate", "1.01% ( 1.01 % )", "4.61% ( 4.61 % )", "4.84% ( 4.84 % )" ], [ "expected life ( years )", "0.5", "0.5", "0.5" ], [ "expected volatility", "67.2% ( 67.2 % )", "45.2% ( 45.2 % )", "39.8% ( 39.8 % )" ] ]

[ { "arg1": "4.61", "arg2": "4.84", "op": "minus2-1", "res": "-0.23" }, { "arg1": "#0", "arg2": "4.84", "op": "divide2-2", "res": "-4.8%" } ]

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

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

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

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

[ { "arg1": "16152", "arg2": "13295", "op": "minus2-1", "res": "2857" }, { "arg1": "#0", "arg2": "13295", "op": "divide2-2", "res": "21.5%" } ]

[ "as described above , the borrowings are extended on a non-recourse basis .", "as such , there is no credit or market risk exposure to us on the assets , and as a result the terms of the amlf permit exclusion of the assets from regulatory leverage and risk-based capital calculations .", "the interest rate on the borrowings is set by the federal reserve bank , and we earn net interest revenue by earning a spread on the difference between the yield we earn on the assets and the rate we pay on the borrowings .", "for 2008 , we earned net interest revenue associated with this facility of approximately $ 68 million .", "separately , we currently maintain a commercial paper program under which we can issue up to $ 3 billion with original maturities of up to 270 days from the date of issue .", "at december 31 , 2008 and 2007 , $ 2.59 billion and $ 2.36 billion , respectively , of commercial paper were outstanding .", "in addition , state street bank currently has board authority to issue bank notes up to an aggregate of $ 5 billion , including up to $ 2.48 billion of senior notes under the fdic 2019s temporary liquidity guarantee program , instituted by the fdic in october 2008 for qualified senior debt issued through june 30 , 2009 , and up to $ 1 billion of subordinated bank notes ( see note 10 ) .", "at december 31 , 2008 and 2007 , no notes payable were outstanding , and at december 31 , 2008 , all $ 5 billion was available for issuance .", "state street bank currently maintains a line of credit of cad $ 800 million , or approximately $ 657 million , to support its canadian securities processing operations .", "the line of credit has no stated termination date and is cancelable by either party with prior notice .", "at december 31 , 2008 , no balance was due on this line of credit .", "note 9 .", "restructuring charges in december 2008 , we implemented a plan to reduce our expenses from operations and support our long- term growth .", "in connection with this plan , we recorded aggregate restructuring charges of $ 306 million in our consolidated statement of income .", "the primary component of the plan was an involuntary reduction of approximately 7% ( 7 % ) of our global workforce , which reduction we expect to be substantially completed by the end of the first quarter of 2009 .", "other components of the plan included costs related to lease and software license terminations , restructuring of agreements with technology providers and other costs .", "of the aggregate restructuring charges of $ 306 million , $ 243 million related to severance , a portion of which will be paid in a lump sum or over a defined period , and a portion of which will provide related benefits and outplacement services for approximately 2100 employees identified for involuntary termination in connection with the plan ; $ 49 million related to future lease obligations and write-offs of capitalized assets , including $ 23 million for impairment of other intangible assets ; $ 10 million of costs associated with information technology and $ 4 million of other restructuring costs .", "the severance component included $ 47 million related to accelerated vesting of equity-based compensation .", "in december 2008 , approximately 620 employees were involuntarily terminated and left state street .", "the following table presents the activity in the related balance sheet reserve for 2008 .", "( in millions ) severance lease and write-offs information technology other total ." ]

[ "." ]

[ [ "(In millions)", "Severance", "Lease and Asset Write-Offs", "Information Technology", "Other", "Total" ], [ "Initial accrual", "$250", "$42", "$10", "$4", "$306" ], [ "Payments and adjustments", "(20)", "(25)", "(10)", "(1)", "(56)" ], [ "Balance at December 31, 2008", "$230", "$17", "—", "$3", "$250" ] ]

[ [ "( in millions )", "severance", "lease and asset write-offs", "information technology", "other", "total" ], [ "initial accrual", "$ 250", "$ 42", "$ 10", "$ 4", "$ 306" ], [ "payments and adjustments", "-20 ( 20 )", "-25 ( 25 )", "-10 ( 10 )", "-1 ( 1 )", "-56 ( 56 )" ], [ "balance at december 31 2008", "$ 230", "$ 17", "2014", "$ 3", "$ 250" ] ]

[ { "arg1": "2.59", "arg2": "2.36", "op": "minus1-1", "res": "0.23" }, { "arg1": "#0", "arg2": "2.36", "op": "divide1-2", "res": "9.7%" } ]

[ "entergy corporation and subsidiaries notes to financial statements equitable discretion and not require refunds for the 20-month period from september 13 , 2001 - may 2 , 2003 .", "because the ruling on refunds relied on findings in the interruptible load proceeding , which is discussed in a separate section below , the ferc concluded that the refund ruling will be held in abeyance pending the outcome of the rehearing requests in that proceeding .", "on the second issue , the ferc reversed its prior decision and ordered that the prospective bandwidth remedy begin on june 1 , 2005 ( the date of its initial order in the proceeding ) rather than january 1 , 2006 , as it had previously ordered .", "pursuant to the october 2011 order , entergy was required to calculate the additional bandwidth payments for the period june - december 2005 utilizing the bandwidth formula tariff prescribed by the ferc that was filed in a december 2006 compliance filing and accepted by the ferc in an april 2007 order .", "as is the case with bandwidth remedy payments , these payments and receipts will ultimately be paid by utility operating company customers to other utility operating company customers .", "in december 2011 , entergy filed with the ferc its compliance filing that provides the payments and receipts among the utility operating companies pursuant to the ferc 2019s october 2011 order .", "the filing shows the following payments/receipts among the utility operating companies : payments ( receipts ) ( in millions ) ." ]

[ "entergy arkansas made its payment in january 2012 .", "in february 2012 , entergy arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $ 156 million payment be collected from customers over the 22-month period from march 2012 through december 2013 .", "in march 2012 the apsc issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider , subject to refund .", "the lpsc and the apsc have requested rehearing of the ferc 2019s october 2011 order .", "in december 2013 the lpsc filed a petition for a writ of mandamus at the united states court of appeals for the d.c .", "circuit .", "in its petition , the lpsc requested that the d.c .", "circuit issue an order compelling the ferc to issue a final order on pending rehearing requests .", "in its response to the lpsc petition , the ferc committed to rule on the pending rehearing request before the end of february .", "in january 2014 the d.c .", "circuit denied the lpsc's petition .", "the apsc , the lpsc , the puct , and other parties intervened in the december 2011 compliance filing proceeding , and the apsc and the lpsc also filed protests .", "calendar year 2013 production costs the liabilities and assets for the preliminary estimate of the payments and receipts required to implement the ferc 2019s remedy based on calendar year 2013 production costs were recorded in december 2013 , based on certain year-to-date information .", "the preliminary estimate was recorded based on the following estimate of the payments/receipts among the utility operating companies for 2014. ." ]

[ [ "", "Payments(Receipts) (In Millions)" ], [ "Entergy Arkansas", "$156" ], [ "Entergy Gulf States Louisiana", "($75)" ], [ "Entergy Louisiana", "$—" ], [ "Entergy Mississippi", "($33)" ], [ "Entergy New Orleans", "($5)" ], [ "Entergy Texas", "($43)" ] ]

[ [ "", "payments ( receipts ) ( in millions )" ], [ "entergy arkansas", "$ 156" ], [ "entergy gulf states louisiana", "( $ 75 )" ], [ "entergy louisiana", "$ 2014" ], [ "entergy mississippi", "( $ 33 )" ], [ "entergy new orleans", "( $ 5 )" ], [ "entergy texas", "( $ 43 )" ] ]

[]

[ "entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis in industrial usage is primarily due to increased demand from new customers and expansion projects , primarily in the chemicals industry .", "the louisiana act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the lpsc .", "the tax savings resulted from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike .", "see note 3 to the financial statements for additional discussion of the settlement and benefit sharing .", "included in other is a provision of $ 23 million recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding , offset by a provision of $ 32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the waterford 3 replacement steam generator prudence review proceeding .", "see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding .", "2015 compared to 2014 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .", "following is an analysis of the change in net revenue comparing 2015 to 2014 .", "amount ( in millions ) ." ]

[ "the retail electric price variance is primarily due to formula rate plan increases , as approved by the lpsc , effective december 2014 and january 2015 .", "entergy louisiana 2019s formula rate plan increases are discussed in note 2 to the financial statements .", "the volume/weather variance is primarily due to an increase of 841 gwh , or 2% ( 2 % ) , in billed electricity usage , as a result of increased industrial usage primarily due to increased demand for existing large refinery customers , new customers , and expansion projects primarily in the chemicals industry , partially offset by a decrease in demand in the chemicals industry as a result of a seasonal outage for an existing customer .", "the waterford 3 replacement steam generator provision is due to a regulatory charge of approximately $ 32 million recorded in 2015 related to the uncertainty associated with the resolution of the waterford 3 replacement steam generator project .", "see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding .", "the miso deferral variance is due to the deferral in 2014 of non-fuel miso-related charges , as approved by the lpsc .", "the deferral of non-fuel miso-related charges is partially offset in other operation and maintenance expenses .", "see note 2 to the financial statements for further discussion of the recovery of non-fuel miso-related charges. ." ]

[ [ "", "Amount (In Millions)" ], [ "2014 net revenue", "$2,246.1" ], [ "Retail electric price", "180.0" ], [ "Volume/weather", "39.5" ], [ "Waterford 3 replacement steam generator provision", "(32.0)" ], [ "MISO deferral", "(32.0)" ], [ "Other", "7.2" ], [ "2015 net revenue", "$2,408.8" ] ]

[ [ "", "amount ( in millions )" ], [ "2014 net revenue", "$ 2246.1" ], [ "retail electric price", "180.0" ], [ "volume/weather", "39.5" ], [ "waterford 3 replacement steam generator provision", "-32.0 ( 32.0 )" ], [ "miso deferral", "-32.0 ( 32.0 )" ], [ "other", "7.2" ], [ "2015 net revenue", "$ 2408.8" ] ]

[ { "arg1": "180.0", "arg2": "39.5", "op": "add1-1", "res": "219.5" }, { "arg1": "2408.8", "arg2": "#0", "op": "minus1-2", "res": "2189.3" } ]

[ "management 2019s discussion and analysis of increased volumes in our performance and applied coatings , optical and specialty materials and glass reportable business segments was offset by volume declines in the commodity chemicals reportable business segment .", "the volume decline in the commodity chemicals reportable business segment was due in part to lost sales resulting from the impact of hurricane rita , as discussed below .", "cost of sales as a percentage of sales increased to 63.5% ( 63.5 % ) as compared to 63.1% ( 63.1 % ) in 2004 .", "inflation , including higher coatings raw material costs and higher energy costs in our commodity chemicals and glass reportable business segments increased our cost of sales .", "selling , general and administrative expense declined slightly as a percentage of sales to 17.4% ( 17.4 % ) despite increasing by $ 56 million in 2005 .", "these costs increased primarily due to increased advertising in our optical products operating segment and higher expenses due to store expansions in our architectural coatings operating segment .", "interest expense declined $ 9 million in 2005 , reflecting the year over year reduction in the outstanding debt balance of $ 80 million .", "other charges increased $ 284 million in 2005 primarily due to pretax charges of $ 132 million related to the marvin legal settlement , net of $ 18 million in insurance recoveries , $ 61 million for the federal glass class action antitrust legal settlement , $ 34 million of direct costs related to the impact of hurricanes rita and katrina , $ 27 million for an asset impairment charge in our fine chemicals operating segment , $ 19 million for debt refinancing costs and an increase of $ 12 million for environmental remediation costs .", "net income and earnings per share 2013 assuming dilution for 2005 were $ 596 million and $ 3.49 respectively , compared to $ 683 million and $ 3.95 , respectively , for 2004 .", "net income in 2005 included aftertax charges of $ 117 million , or 68 cents a share , for legal settlements net of insurance ; $ 21 million , or 12 cents a share for direct costs related to the impact of hurricanes katrina and rita ; $ 17 million , or 10 cents a share related to an asset impairment charge related to our fine chemicals business ; and $ 12 million , or 7 cents a share , for debt refinancing costs .", "the legal settlements net of insurance include aftertax charges of $ 80 million for the marvin legal settlement , net of insurance recoveries , and $ 37 million for the impact of the federal glass class action antitrust legal settlement .", "net income for 2005 and 2004 included an aftertax charge of $ 13 million , or 8 cents a share , and $ 19 million , or 11 cents a share , respectively , to reflect the net increase in the current value of the company 2019s obligation relating to asbestos claims under the ppg settlement arrangement .", "results of reportable business segments net sales segment income ( millions ) 2005 2004 2005 2004 industrial coatings $ 2921 $ 2818 $ 284 $ 338 performance and applied coatings 2668 2478 464 451 optical and specialty materials 867 805 158 186 ." ]

[ "sales of industrial coatings increased $ 103 million or 4% ( 4 % ) in 2005 .", "sales increased 2% ( 2 % ) due to higher selling prices in our industrial and packaging coatings businesses and 2% ( 2 % ) due to the positive effects of foreign currency translation .", "volume was flat year over year as increased volume in automotive coatings was offset by lower volume in industrial and packaging coatings .", "segment income decreased $ 54 million in 2005 .", "the decrease in segment income was due to the adverse impact of inflation , including raw materials costs increases of about $ 170 million , which more than offset the benefits of higher selling prices , improved sales margin mix , formula cost reductions , lower manufacturing costs and higher other income .", "performance and applied coatings sales increased $ 190 million or 8% ( 8 % ) in 2005 .", "sales increased 4% ( 4 % ) due to higher selling prices in all three operating segments , 3% ( 3 % ) due to increased volumes as increases in our aerospace and architectural coatings businesses exceeded volume declines in automotive refinish , and 1% ( 1 % ) due to the positive effects of foreign currency translation .", "performance and applied coatings segment income increased $ 13 million in 2005 .", "segment income increased due to the impact of increased sales volumes described above and higher other income , which combined to offset the negative impacts of higher overhead costs to support the growth in these businesses , particularly in the architectural coatings business , and higher manufacturing costs .", "the impact of higher selling prices fully offset the adverse impact of inflation , including raw materials cost increases of about $ 75 million .", "optical and specialty materials sales increased $ 62 million or 8% ( 8 % ) .", "sales increased 8% ( 8 % ) due to higher sales volumes in our optical products and silica businesses , which offset lower sales volumes in our fine chemicals business .", "sales increased 1% ( 1 % ) due to an acquisition in our optical products business and decreased 1% ( 1 % ) due to lower pricing .", "segment income decreased $ 28 million .", "the primary factor decreasing segment income was the $ 27 million impairment charge related to our fine chemicals business .", "the impact of higher sales volumes described above was offset by higher inflation , including increased energy costs ; lower selling prices ; increased overhead costs in our optical products business to support growth 24 2006 ppg annual report and form 10-k 4282_txt ." ]

[ [ "", "<i>Net sales</i>", "<i>Segment income</i>" ], [ "<i>(Millions)</i>", "2005", "2004", "2005", "2004" ], [ "Industrial Coatings", "$2,921", "$2,818", "$284", "$338" ], [ "Performance and Applied Coatings", "2,668", "2,478", "464", "451" ], [ "Optical and Specialty Materials", "867", "805", "158", "186" ], [ "Commodity Chemicals", "1,531", "1,229", "313", "113" ], [ "Glass", "2,214", "2,183", "123", "166" ] ]

[ [ "( millions )", "net sales 2005", "net sales 2004", "net sales 2005", "2004" ], [ "industrial coatings", "$ 2921", "$ 2818", "$ 284", "$ 338" ], [ "performance and applied coatings", "2668", "2478", "464", "451" ], [ "optical and specialty materials", "867", "805", "158", "186" ], [ "commodity chemicals", "1531", "1229", "313", "113" ], [ "glass", "2214", "2183", "123", "166" ] ]

[]

[ "part iii item 10 .", "directors , and executive officers and corporate governance .", "pursuant to section 406 of the sarbanes-oxley act of 2002 , we have adopted a code of ethics for senior financial officers that applies to our principal executive officer and principal financial officer , principal accounting officer and controller , and other persons performing similar functions .", "our code of ethics for senior financial officers is publicly available on our website at www.hologic.com .", "we intend to satisfy the disclosure requirement under item 5.05 of current report on form 8-k regarding an amendment to , or waiver from , a provision of this code by posting such information on our website , at the address specified above .", "the additional information required by this item is incorporated by reference to our definitive proxy statement for our annual meeting of stockholders to be filed with the securities and exchange commission within 120 days after the close of our fiscal year .", "item 11 .", "executive compensation .", "the information required by this item is incorporated by reference to our definitive proxy statement for our annual meeting of stockholders to be filed with the securities and exchange commission within 120 days after the close of our fiscal year .", "item 12 .", "security ownership of certain beneficial owners and management and related stockholder matters .", "we maintain a number of equity compensation plans for employees , officers , directors and others whose efforts contribute to our success .", "the table below sets forth certain information as of the end of our fiscal year ended september 27 , 2008 regarding the shares of our common stock available for grant or granted under stock option plans and equity incentives that ( i ) were approved by our stockholders , and ( ii ) were not approved by our stockholders .", "the number of securities and the exercise price of the outstanding securities have been adjusted to reflect our two-for-one stock splits effected on november 30 , 2005 and april 2 , 2008 .", "equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "15370814 $ 16.10 19977099 equity compensation plans not approved by security holders ( 1 ) .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "582881 $ 3.79 2014 ." ]

[ "( 1 ) includes the following plans : 1997 employee equity incentive plan and 2000 acquisition equity incentive plan .", "a description of each of these plans is as follows : 1997 employee equity incentive plan .", "the purposes of the 1997 employee equity incentive plan ( the 201c1997 plan 201d ) , adopted by the board of directors in may 1997 , are to attract and retain key employees , consultants and advisors , to provide an incentive for them to assist us in achieving long-range performance goals , and to enable such person to participate in our long-term growth .", "in general , under the 1997 plan , all employees ." ]

[ [ "Plan Category", "Number of securities to be issued upon exercise of outstanding options, warrants and rights (a)", "Weighted-average exercise price of outstanding options, warrants and rights (b)", "Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c)" ], [ "Equity compensation plans approved by security holders", "15,370,814", "$16.10", "19,977,099" ], [ "Equity compensation plans not approved by security holders (1)", "582,881", "$3.79", "—" ], [ "Total", "15,953,695", "$15.65", "19,977,099" ] ]

[ [ "plan category", "number of securities to be issued upon exercise of outstanding options warrants and rights ( a )", "weighted-average exercise price of outstanding options warrants and rights ( b )", "number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )" ], [ "equity compensation plans approved by security holders", "15370814", "$ 16.10", "19977099" ], [ "equity compensation plans not approved by security holders ( 1 )", "582881", "$ 3.79", "2014" ], [ "total", "15953695", "$ 15.65", "19977099" ] ]

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[ "2007 annual report 39 corporate snap-on 2019s general corporate expenses totaled $ 53.8 million in 2006 , up from $ 46.4 million in 2005 , primarily due to $ 15.2 million of increased stock-based and performance-based incentive compensation , including $ 6.3 million from the january 1 , 2006 , adoption of sfas no .", "123 ( r ) .", "increased expenses in 2006 also included $ 4.2 million of higher insurance and other costs .", "these expense increases were partially offset by $ 9.5 million of benefits from rci initiatives .", "see note 13 to the consolidated financial statements for information on the company 2019s adoption of sfas no .", "123 ( r ) .", "financial condition snap-on 2019s growth has historically been funded by a combination of cash provided by operating activities and debt financing .", "snap-on believes that its cash from operations , coupled with its sources of borrowings , are sufficient to fund its anticipated requirements for working capital , capital expenditures , restructuring activities , acquisitions , common stock repurchases and dividend payments .", "due to snap-on 2019s credit rating over the years , external funds have been available at a reasonable cost .", "as of the close of business on february 15 , 2008 , snap-on 2019s long-term debt and commercial paper was rated a3 and p-2 by moody 2019s investors service and a- and a-2 by standard & poor 2019s .", "snap-on believes that the strength of its balance sheet , combined with its cash flows from operating activities , affords the company the financial flexibility to respond to both internal growth opportunities and those available through acquisitions .", "the following discussion focuses on information included in the accompanying consolidated balance sheets .", "snap-on has been focused on improving asset utilization by making more effective use of its investment in certain working capital items .", "the company assesses management 2019s operating performance and effectiveness relative to those components of working capital , particularly accounts receivable and inventories , that are more directly impacted by operational decisions .", "as of december 29 , 2007 , working capital ( current assets less current liabilities ) of $ 548.2 million was up $ 117.0 million from $ 431.2 million as of december 30 , 2006 .", "the increase in year-over-year working capital primarily reflects higher levels of 201ccash and cash equivalents 201d of $ 29.6 million , lower 201cnotes payable and current maturities of long-term debt 201d of $ 27.7 million , and $ 27.7 million of increased 201caccounts receivable 2013 net of allowances . 201d the following represents the company 2019s working capital position as of december 29 , 2007 , and december 30 , 2006 .", "( amounts in millions ) 2007 2006 ." ]

[ "accounts receivable at the end of 2007 was $ 586.9 million , up $ 27.7 million from year-end 2006 levels .", "the year-over- year increase in accounts receivable primarily reflects the impact of higher sales in the fourth quarter of 2007 and $ 25.1 million of currency translation .", "this increase in accounts receivable was partially offset by lower levels of receivables as a result of an improvement in days sales outstanding from 76 days at year-end 2006 to 73 days at year-end 2007. ." ]

[ [ "<i>(Amounts in millions)­</i>", "2007", "2006" ], [ "Cash and cash equivalents", "$93.0", "$63.4" ], [ "Accounts receivable – net of allowances", "586.9", "559.2" ], [ "Inventories", "322.4", "323.0" ], [ "Other current assets", "185.1", "167.6" ], [ "Total current assets", "1,187.4", "1,113.2" ], [ "Accounts payable", "(171.6)", "(178.8)" ], [ "Notes payable and current maturities of long-term debt", "(15.9)", "(43.6)" ], [ "Other current liabilities", "(451.7)", "(459.6)" ], [ "Total current liabilities", "(639.2)", "(682.0)" ], [ "Total working capital", "$548.2", "$431.2" ] ]

[ [ "( amounts in millions ) ad", "2007", "2006" ], [ "cash and cash equivalents", "$ 93.0", "$ 63.4" ], [ "accounts receivable 2013 net of allowances", "586.9", "559.2" ], [ "inventories", "322.4", "323.0" ], [ "other current assets", "185.1", "167.6" ], [ "total current assets", "1187.4", "1113.2" ], [ "accounts payable", "-171.6 ( 171.6 )", "-178.8 ( 178.8 )" ], [ "notes payable and current maturities of long-term debt", "-15.9 ( 15.9 )", "-43.6 ( 43.6 )" ], [ "other current liabilities", "-451.7 ( 451.7 )", "-459.6 ( 459.6 )" ], [ "total current liabilities", "-639.2 ( 639.2 )", "-682.0 ( 682.0 )" ], [ "total working capital", "$ 548.2", "$ 431.2" ] ]

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

[ "holdings considered the mechanisms and obligations relating to the trust preferred securities , taken together , constituted a full and unconditional guarantee by holdings of capital trust ii 2019s payment obligations with respect to their trust preferred securities .", "10 .", "reinsurance and trust agreements certain subsidiaries of group have established trust agreements , which effectively use the company 2019s investments as collateral , as security for assumed losses payable to certain non-affiliated ceding companies .", "at december 31 , 2014 , the total amount on deposit in trust accounts was $ 322285 thousand .", "on april 24 , 2014 , the company entered into two collateralized reinsurance agreements with kilimanjaro re limited ( 201ckilimanjaro 201d ) , a bermuda based special purpose reinsurer , to provide the company with catastrophe reinsurance coverage .", "these agreements are multi-year reinsurance contracts which cover specified named storm and earthquake events .", "the first agreement provides up to $ 250000 thousand of reinsurance coverage from named storms in specified states of the southeastern united states .", "the second agreement provides up to $ 200000 thousand of reinsurance coverage from named storms in specified states of the southeast , mid-atlantic and northeast regions of the united states and puerto rico as well as reinsurance coverage from earthquakes in specified states of the southeast , mid-atlantic , northeast and west regions of the united states , puerto rico and british columbia .", "on november 18 , 2014 , the company entered into a collateralized reinsurance agreement with kilimanjaro re to provide the company with catastrophe reinsurance coverage .", "this agreement is a multi-year reinsurance contract which covers specified earthquake events .", "the agreement provides up to $ 500000 thousand of reinsurance coverage from earthquakes in the united states , puerto rico and canada .", "kilimanjaro has financed the various property catastrophe reinsurance coverage by issuing catastrophe bonds to unrelated , external investors .", "on april 24 , 2014 , kilimanjaro issued $ 450000 thousand of variable rate notes ( 201cseries 2014-1 notes 201d ) .", "on november 18 , 2014 , kilimanjaro issued $ 500000 thousand of variable rate notes ( 201cseries 2014-2 notes 201d ) .", "the proceeds from the issuance of the series 2014-1 notes and the series 2014-2 notes are held in reinsurance trust throughout the duration of the applicable reinsurance agreements and invested solely in us government money market funds with a rating of at least 201caaam 201d by standard & poor 2019s. ." ]

[ [ "", "Years Ended December 31," ], [ "(Dollars in thousands)", "2014", "2013", "2012" ], [ "Interest expense incurred", "$-", "$8,181", "$20,454" ] ]

[ [ "( dollars in thousands )", "years ended december 31 , 2014", "years ended december 31 , 2013", "years ended december 31 , 2012" ], [ "interest expense incurred", "$ -", "$ 8181", "$ 20454" ] ]

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[ "long-term product offerings include active and index strategies .", "our active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile .", "we offer two types of active strategies : those that rely primarily on fundamental research and those that utilize primarily quantitative models to drive portfolio construction .", "in contrast , index strategies seek to closely track the returns of a corresponding index , generally by investing in substantially the same underlying securities within the index or in a subset of those securities selected to approximate a similar risk and return profile of the index .", "index strategies include both our non-etf index products and ishares etfs .", "althoughmany clients use both active and index strategies , the application of these strategies may differ .", "for example , clients may use index products to gain exposure to a market or asset class .", "in addition , institutional non-etf index assignments tend to be very large ( multi-billion dollars ) and typically reflect low fee rates .", "this has the potential to exaggerate the significance of net flows in institutional index products on blackrock 2019s revenues and earnings .", "equity year-end 2015 equity aum totaled $ 2.424 trillion , reflecting net inflows of $ 52.8 billion .", "net inflows included $ 78.4 billion and $ 4.2 billion into ishares and active products , respectively .", "ishares net inflows were driven by the core series and flows into broad developed market equity exposures , and active net inflows reflected demand for international equities .", "ishares and active net inflows were partially offset by non-etf index net outflows of $ 29.8 billion .", "blackrock 2019s effective fee rates fluctuate due to changes in aummix .", "approximately half of blackrock 2019s equity aum is tied to international markets , including emerging markets , which tend to have higher fee rates than u.s .", "equity strategies .", "accordingly , fluctuations in international equity markets , which do not consistently move in tandemwith u.s .", "markets , may have a greater impact on blackrock 2019s effective equity fee rates and revenues .", "fixed income fixed income aum ended 2015 at $ 1.422 trillion , increasing $ 28.7 billion , or 2% ( 2 % ) , from december 31 , 2014 .", "the increase in aum reflected $ 76.9 billion in net inflows , partially offset by $ 48.2 billion in net market depreciation and foreign exchange movements .", "in 2015 , active net inflows of $ 35.9 billion were diversified across fixed income offerings , with strong flows into our unconstrained , total return and high yield strategies .", "flagship funds in these product areas include our unconstrained strategic income opportunities and fixed income strategies funds , with net inflows of $ 7.0 billion and $ 3.7 billion , respectively ; our total return fund with net inflows of $ 2.7 billion ; and our high yield bond fund with net inflows of $ 3.5 billion .", "fixed income ishares net inflows of $ 50.3 billion were led by flows into core , corporate and high yield bond funds .", "active and ishares net inflows were partially offset by non-etf index net outflows of $ 9.3 billion .", "multi-asset class blackrock 2019s multi-asset class teammanages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities , bonds , currencies and commodities , and our extensive risk management capabilities .", "investment solutions might include a combination of long-only portfolios and alternative investments as well as tactical asset allocation overlays .", "component changes in multi-asset class aum for 2015 are presented below .", "( in millions ) december 31 , 2014 net inflows ( outflows ) acquisition ( 1 ) market change fx impact december 31 , 2015 asset allocation and balanced $ 183032 $ 12926 $ 2014 $ ( 6731 ) $ ( 3391 ) $ 185836 ." ]

[ "( 1 ) amounts represent $ 366 million of aum acquired in the futureadvisor acquisition in october 2015 .", "the futureadvisor acquisition amount does not include aum that was held in ishares holdings .", "multi-asset class net inflows reflected ongoing institutional demand for our solutions-based advice with $ 17.4 billion of net inflows coming from institutional clients .", "defined contribution plans of institutional clients remained a significant driver of flows , and contributed $ 7.3 billion to institutional multi-asset class net new business in 2015 , primarily into target date and target risk product offerings .", "retail net outflows of $ 1.3 billion were primarily due to a large single-client transition out of mutual funds into a series of ishares across asset classes .", "notwithstanding this transition , retail flows reflected demand for our multi-asset income fund family , which raised $ 4.6 billion in 2015 .", "the company 2019s multi-asset class strategies include the following : 2022 asset allocation and balanced products represented 49% ( 49 % ) of multi-asset class aum at year-end , with growth in aum driven by net new business of $ 12.9 billion .", "these strategies combine equity , fixed income and alternative components for investors seeking a tailored solution relative to a specific benchmark and within a risk budget .", "in certain cases , these strategies seek to minimize downside risk through diversification , derivatives strategies and tactical asset allocation decisions .", "flagship products in this category include our global allocation andmulti-asset income suites. ." ]

[ [ "(in millions)", "December 31,2014", "Net Inflows(Outflows)", "Acquisition⁽¹⁾", "Market Change", "FX Impact", "December 31,2015" ], [ "Asset allocation and balanced", "$183,032", "$12,926", "$—", "$(6,731)", "$(3,391)", "$185,836" ], [ "Target date/risk", "128,611", "218", "—", "(1,308)", "(1,857)", "125,664" ], [ "Fiduciary", "66,194", "3,985", "—", "627", "(6,373)", "64,433" ], [ "FutureAdvisor", "—", "38", "366", "(1)", "—", "403" ], [ "Multi-asset", "$377,837", "$17,167", "$366", "$(7,413)", "$(11,621)", "$376,336" ] ]

[ [ "( in millions )", "december 312014", "net inflows ( outflows )", "acquisition ( 1 )", "market change", "fx impact", "december 312015" ], [ "asset allocation and balanced", "$ 183032", "$ 12926", "$ 2014", "$ -6731 ( 6731 )", "$ -3391 ( 3391 )", "$ 185836" ], [ "target date/risk", "128611", "218", "2014", "-1308 ( 1308 )", "-1857 ( 1857 )", "125664" ], [ "fiduciary", "66194", "3985", "2014", "627", "-6373 ( 6373 )", "64433" ], [ "futureadvisor", "2014", "38", "366", "-1 ( 1 )", "2014", "403" ], [ "multi-asset", "$ 377837", "$ 17167", "$ 366", "$ -7413 ( 7413 )", "$ -11621 ( 11621 )", "$ 376336" ] ]

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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 2006 and 2005. ." ]

[ "on february 22 , 2007 , the closing price of our class a common stock was $ 40.38 per share as reported on the nyse .", "as of february 22 , 2007 , we had 419988395 outstanding shares of class a common stock and 623 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 .", "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 .", "in august 2005 , we amended and restated our charter to , among other things , eliminate our class b common stock and class c common stock .", "dividends we have never paid a dividend on any class of our 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 7.50% ( 7.50 % ) senior notes due 2012 ( 7.50% ( 7.50 % ) notes ) and our 7.125% ( 7.125 % ) senior notes due 2012 ( 7.125% ( 7.125 % ) notes ) may prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants .", "our credit facilities and the indentures governing the terms of our debt securities contain covenants that may restrict the ability of our subsidiaries 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 .", "under our credit facilities , the borrower subsidiaries may pay cash dividends or make other distributions to us in accordance with the applicable credit facility only if no default exists or would be created thereby .", "the indenture governing the terms of the ati 7.25% ( 7.25 % ) notes 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 financial covenants are satisfied .", "the indentures governing the terms of our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes also contain certain restrictive covenants , which prohibit the restricted subsidiaries under these indentures from paying dividends and making other payments or distributions to us unless certain financial covenants are satisfied .", "for more information about the restrictions under our credit facilities and our notes indentures , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 7 to our consolidated financial statements included in this annual report. ." ]

[ [ "2006", "High", "Low" ], [ "Quarter ended March 31", "$32.68", "$26.66" ], [ "Quarter ended June 30", "35.75", "27.35" ], [ "Quarter ended September 30", "36.92", "29.98" ], [ "Quarter ended December 31", "38.74", "35.21" ], [ "2005", "High", "Low" ], [ "Quarter ended March 31", "$19.28", "$17.30" ], [ "Quarter ended June 30", "21.16", "16.28" ], [ "Quarter ended September 30", "25.20", "20.70" ], [ "Quarter ended December 31", "28.33", "22.73" ] ]

[ [ "2006", "high", "low" ], [ "quarter ended march 31", "$ 32.68", "$ 26.66" ], [ "quarter ended june 30", "35.75", "27.35" ], [ "quarter ended september 30", "36.92", "29.98" ], [ "quarter ended december 31", "38.74", "35.21" ], [ "2005", "high", "low" ], [ "quarter ended march 31", "$ 19.28", "$ 17.30" ], [ "quarter ended june 30", "21.16", "16.28" ], [ "quarter ended september 30", "25.20", "20.70" ], [ "quarter ended december 31", "28.33", "22.73" ] ]

[ { "arg1": "40.38", "arg2": "38.74", "op": "minus1-1", "res": "1.64" }, { "arg1": "#0", "arg2": "38.74", "op": "divide1-2", "res": "4.2%" } ]

[ "notes to consolidated financial statements ( continued ) note 8 2014commitments and contingencies ( continued ) provide renewal options for terms of 3 to 7 additional years .", "leases for retail space are for terms of 5 to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options .", "as of september 29 , 2007 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 1.4 billion , of which $ 1.1 billion related to leases for retail space .", "rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 151 million , $ 138 million , and $ 140 million in 2007 , 2006 , and 2005 , respectively .", "future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 29 , 2007 , are as follows ( in millions ) : fiscal years ." ]

[ "accrued warranty and indemnifications the company offers a basic limited parts and labor warranty on its hardware products .", "the basic warranty period for hardware products is typically one year from the date of purchase by the end-user .", "the company also offers a 90-day basic warranty for its service parts used to repair the company 2019s hardware products .", "the company provides currently for the estimated cost that may be incurred under its basic limited product warranties at the time related revenue is recognized .", "factors considered in determining appropriate accruals for product warranty obligations include the size of the installed base of products subject to warranty protection , historical and projected warranty claim rates , historical and projected cost-per-claim , and knowledge of specific product failures that are outside of the company 2019s typical experience .", "the company assesses the adequacy of its preexisting warranty liabilities and adjusts the amounts as necessary based on actual experience and changes in future estimates .", "for products accounted for under subscription accounting pursuant to sop no .", "97-2 , the company recognizes warranty expense as incurred .", "the company periodically provides updates to its applications and system software to maintain the software 2019s compliance with specifications .", "the estimated cost to develop such updates is accounted for as warranty costs that are recognized at the time related software revenue is recognized .", "factors considered in determining appropriate accruals related to such updates include the number of units delivered , the number of updates expected to occur , and the historical cost and estimated future cost of the resources necessary to develop these updates. ." ]

[ [ "2008", "$155" ], [ "2009", "172" ], [ "2010", "173" ], [ "2011", "160" ], [ "2012", "148" ], [ "Thereafter", "617" ], [ "Total minimum lease payments", "$1,425" ] ]

[ [ "2008", "$ 155" ], [ "2009", "172" ], [ "2010", "173" ], [ "2011", "160" ], [ "2012", "148" ], [ "thereafter", "617" ], [ "total minimum lease payments", "$ 1425" ] ]

[]

[ "aeronautics business segment 2019s results of operations discussion .", "the increase in our consolidated net adjustments for 2011 as compared to 2010 primarily was due to an increase in profit booking rate adjustments at our is&gs and aeronautics business segments .", "aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support , and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles , and related technologies .", "aeronautics 2019 major programs include the f-35 lightning ii joint strike fighter , f-22 raptor , f-16 fighting falcon , c-130 hercules , and the c-5m super galaxy .", "aeronautics 2019 operating results included the following ( in millions ) : ." ]

[ "2012 compared to 2011 aeronautics 2019 net sales for 2012 increased $ 591 million , or 4% ( 4 % ) , compared to 2011 .", "the increase was attributable to higher net sales of approximately $ 745 million from f-35 lrip contracts principally due to increased production volume ; about $ 285 million from f-16 programs primarily due to higher aircraft deliveries ( 37 f-16 aircraft delivered in 2012 compared to 22 in 2011 ) partially offset by lower volume on sustainment activities due to the completion of modification programs for certain international customers ; and approximately $ 140 million from c-5 programs due to higher aircraft deliveries ( four c-5m aircraft delivered in 2012 compared to two in 2011 ) .", "partially offsetting the increases were lower net sales of approximately $ 365 million from decreased production volume and lower risk retirements on the f-22 program as final aircraft deliveries were completed in the second quarter of 2012 ; approximately $ 110 million from the f-35 development contract primarily due to the inception-to-date effect of reducing the profit booking rate in the second quarter of 2012 and to a lesser extent lower volume ; and about $ 95 million from a decrease in volume on other sustainment activities partially offset by various other aeronautics programs due to higher volume .", "net sales for c-130 programs were comparable to 2011 as a decline in sustainment activities largely was offset by increased aircraft deliveries .", "aeronautics 2019 operating profit for 2012 increased $ 69 million , or 4% ( 4 % ) , compared to 2011 .", "the increase was attributable to higher operating profit of approximately $ 105 million from c-130 programs due to an increase in risk retirements ; about $ 50 million from f-16 programs due to higher aircraft deliveries partially offset by a decline in risk retirements ; approximately $ 50 million from f-35 lrip contracts due to increased production volume and risk retirements ; and about $ 50 million from the completion of purchased intangible asset amortization on certain f-16 contracts .", "partially offsetting the increases was lower operating profit of about $ 90 million from the f-35 development contract primarily due to the inception- to-date effect of reducing the profit booking rate in the second quarter of 2012 ; approximately $ 50 million from decreased production volume and risk retirements on the f-22 program partially offset by a resolution of a contractual matter in the second quarter of 2012 ; and approximately $ 45 million primarily due to a decrease in risk retirements on other sustainment activities partially offset by various other aeronautics programs due to increased risk retirements and volume .", "operating profit for c-5 programs was comparable to 2011 .", "adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 30 million lower for 2012 compared to 2011 .", "2011 compared to 2010 aeronautics 2019 net sales for 2011 increased $ 1.3 billion , or 10% ( 10 % ) , compared to 2010 .", "the growth in net sales primarily was due to higher volume of about $ 850 million for work performed on the f-35 lrip contracts as production increased ; higher volume of about $ 745 million for c-130 programs due to an increase in deliveries ( 33 c-130j aircraft delivered in 2011 compared to 25 during 2010 ) and support activities ; about $ 425 million for f-16 support activities and an increase in aircraft deliveries ( 22 f-16 aircraft delivered in 2011 compared to 20 during 2010 ) ; and approximately $ 90 million for higher volume on c-5 programs ( two c-5m aircraft delivered in 2011 compared to one during 2010 ) .", "these increases partially were offset by a decline in net sales of approximately $ 675 million due to lower volume on the f-22 program and lower net sales of about $ 155 million for the f-35 development contract as development work decreased. ." ]

[ [ "", "2012", "2011", "2010" ], [ "Net sales", "$14,953", "$14,362", "$13,109" ], [ "Operating profit", "1,699", "1,630", "1,498" ], [ "Operating margins", "11.4%", "11.3%", "11.4%" ], [ "Backlog at year-end", "30,100", "30,500", "27,500" ] ]

[ [ "", "2012", "2011", "2010" ], [ "net sales", "$ 14953", "$ 14362", "$ 13109" ], [ "operating profit", "1699", "1630", "1498" ], [ "operating margins", "11.4% ( 11.4 % )", "11.3% ( 11.3 % )", "11.4% ( 11.4 % )" ], [ "backlog at year-end", "30100", "30500", "27500" ] ]

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[ "a reconciliation of the beginning and ending amount of unrecognized tax benefits , for the periods indicated , is as follows: ." ]

[ "the entire amount of the unrecognized tax benefits would affect the effective tax rate if recognized .", "in 2010 , the company favorably settled a 2003 and 2004 irs audit .", "the company recorded a net overall tax benefit including accrued interest of $ 25920 thousand .", "in addition , the company was also able to take down a $ 12356 thousand fin 48 reserve that had been established regarding the 2003 and 2004 irs audit .", "the company is no longer subject to u.s .", "federal , state and local or foreign income tax examinations by tax authorities for years before 2007 .", "the company recognizes accrued interest related to net unrecognized tax benefits and penalties in income taxes .", "during the years ended december 31 , 2010 , 2009 and 2008 , the company accrued and recognized a net expense ( benefit ) of approximately $ ( 9938 ) thousand , $ 1563 thousand and $ 2446 thousand , respectively , in interest and penalties .", "included within the 2010 net expense ( benefit ) of $ ( 9938 ) thousand is $ ( 10591 ) thousand of accrued interest related to the 2003 and 2004 irs audit .", "the company is not aware of any positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within twelve months of the reporting date .", "for u.s .", "income tax purposes the company has foreign tax credit carryforwards of $ 55026 thousand that begin to expire in 2014 .", "in addition , for u.s .", "income tax purposes the company has $ 41693 thousand of alternative minimum tax credits that do not expire .", "management believes that it is more likely than not that the company will realize the benefits of its net deferred tax assets and , accordingly , no valuation allowance has been recorded for the periods presented .", "tax benefits of $ 629 thousand and $ 1714 thousand related to share-based compensation deductions for stock options exercised in 2010 and 2009 , respectively , are included within additional paid-in capital of the shareholders 2019 equity section of the consolidated balance sheets. ." ]

[ [ "(Dollars in thousands)", "2010", "2009", "2008" ], [ "Balance at January 1", "$29,010", "$34,366", "$29,132" ], [ "Additions based on tax positions related to the current year", "7,119", "6,997", "5,234" ], [ "Additions for tax positions of prior years", "-", "-", "-" ], [ "Reductions for tax positions of prior years", "-", "-", "-" ], [ "Settlements with taxing authorities", "(12,356)", "(12,353)", "-" ], [ "Lapses of applicable statutes of limitations", "-", "-", "-" ], [ "Balance at December 31", "$23,773", "$29,010", "$34,366" ] ]

[ [ "( dollars in thousands )", "2010", "2009", "2008" ], [ "balance at january 1", "$ 29010", "$ 34366", "$ 29132" ], [ "additions based on tax positions related to the current year", "7119", "6997", "5234" ], [ "additions for tax positions of prior years", "-", "-", "-" ], [ "reductions for tax positions of prior years", "-", "-", "-" ], [ "settlements with taxing authorities", "-12356 ( 12356 )", "-12353 ( 12353 )", "-" ], [ "lapses of applicable statutes of limitations", "-", "-", "-" ], [ "balance at december 31", "$ 23773", "$ 29010", "$ 34366" ] ]

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

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

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

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

[]

[ "notes to consolidated financial statements sumitomo mitsui financial group , inc .", "( smfg ) provides the firm with credit loss protection on certain approved loan commitments ( primarily investment-grade commercial lending commitments ) .", "the notional amount of such loan commitments was $ 32.41 billion and $ 31.94 billion as of december 2012 and december 2011 , respectively .", "the credit loss protection on loan commitments provided by smfg is generally limited to 95% ( 95 % ) of the first loss the firm realizes on such commitments , up to a maximum of approximately $ 950 million .", "in addition , subject to the satisfaction of certain conditions , upon the firm 2019s request , smfg will provide protection for 70% ( 70 % ) of additional losses on such commitments , up to a maximum of $ 1.13 billion , of which $ 300 million of protection had been provided as of both december 2012 and december 2011 .", "the firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by smfg .", "these instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity or credit default swaps that reference a market index .", "warehouse financing .", "the firm provides financing to clients who warehouse financial assets .", "these arrangements are secured by the warehoused assets , primarily consisting of commercial mortgage loans .", "contingent and forward starting resale and securities borrowing agreements/forward starting repurchase and secured lending agreements the firm enters into resale and securities borrowing agreements and repurchase and secured lending agreements that settle at a future date .", "the firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements .", "the firm 2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused .", "investment commitments the firm 2019s investment commitments consist of commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages .", "these commitments include $ 872 million and $ 1.62 billion as of december 2012 and december 2011 , respectively , related to real estate private investments and $ 6.47 billion and $ 7.50 billion as of december 2012 and december 2011 , respectively , related to corporate and other private investments .", "of these amounts , $ 6.21 billion and $ 8.38 billion as of december 2012 and december 2011 , respectively , relate to commitments to invest in funds managed by the firm , which will be funded at market value on the date of investment .", "leases the firm has contractual obligations under long-term noncancelable lease agreements , principally for office space , expiring on various dates through 2069 .", "certain agreements are subject to periodic escalation provisions for increases in real estate taxes and other charges .", "the table below presents future minimum rental payments , net of minimum sublease rentals .", "in millions december 2012 ." ]

[ "rent charged to operating expense for the years ended december 2012 , december 2011 and december 2010 was $ 374 million , $ 475 million and $ 508 million , respectively .", "operating leases include office space held in excess of current requirements .", "rent expense relating to space held for growth is included in 201coccupancy . 201d the firm records a liability , based on the fair value of the remaining lease rentals reduced by any potential or existing sublease rentals , for leases where the firm has ceased using the space and management has concluded that the firm will not derive any future economic benefits .", "costs to terminate a lease before the end of its term are recognized and measured at fair value on termination .", "goldman sachs 2012 annual report 175 ." ]

[ [ "<i>in millions</i>", "As of December 2012" ], [ "2013", "$ 439" ], [ "2014", "407" ], [ "2015", "345" ], [ "2016", "317" ], [ "2017", "306" ], [ "2018 - thereafter", "1,375" ], [ "Total", "$3,189" ] ]

[ [ "in millions", "as of december 2012" ], [ "2013", "$ 439" ], [ "2014", "407" ], [ "2015", "345" ], [ "2016", "317" ], [ "2017", "306" ], [ "2018 - thereafter", "1375" ], [ "total", "$ 3189" ] ]

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[ "printing papers demand for printing papers products is closely corre- lated with changes in commercial printing and advertising activity , direct mail volumes and , for uncoated cut-size products , with changes in white- collar employment levels that affect the usage of copy and laser printer paper .", "pulp is further affected by changes in currency rates that can enhance or disadvantage producers in different geographic regions .", "principal cost drivers include manufacturing efficiency , raw material and energy costs and freight costs .", "pr int ing papers net sales for 2012 were about flat with 2011 and increased 5% ( 5 % ) from 2010 .", "operat- ing profits in 2012 were 31% ( 31 % ) lower than in 2011 , but 25% ( 25 % ) higher than in 2010 .", "excluding facility closure costs and impairment costs , operating profits in 2012 were 30% ( 30 % ) lower than in 2011 and 25% ( 25 % ) lower than in 2010 .", "benefits from higher sales volumes ( $ 58 mil- lion ) were more than offset by lower sales price real- izations and an unfavorable product mix ( $ 233 million ) , higher operating costs ( $ 30 million ) , higher maintenance outage costs ( $ 17 million ) , higher input costs ( $ 32 million ) and other items ( $ 6 million ) .", "in addition , operating profits in 2011 included a $ 24 million gain related to the announced repurposing of our franklin , virginia mill to produce fluff pulp and an $ 11 million impairment charge related to our inverurie , scotland mill that was closed in 2009 .", "printing papers ." ]

[ "north american pr int ing papers net sales were $ 2.7 billion in 2012 , $ 2.8 billion in 2011 and $ 2.8 billion in 2010 .", "operating profits in 2012 were $ 331 million compared with $ 423 million ( $ 399 million excluding a $ 24 million gain associated with the repurposing of our franklin , virginia mill ) in 2011 and $ 18 million ( $ 333 million excluding facility clo- sure costs ) in 2010 .", "sales volumes in 2012 were flat with 2011 .", "average sales margins were lower primarily due to lower export sales prices and higher export sales volume .", "input costs were higher for wood and chemicals , but were partially offset by lower purchased pulp costs .", "freight costs increased due to higher oil prices .", "manufacturing operating costs were favorable reflecting strong mill performance .", "planned main- tenance downtime costs were slightly higher in 2012 .", "no market-related downtime was taken in either 2012 or 2011 .", "entering the first quarter of 2013 , sales volumes are expected to increase compared with the fourth quar- ter of 2012 reflecting seasonally stronger demand .", "average sales price realizations are expected to be relatively flat as sales price realizations for domestic and export uncoated freesheet roll and cutsize paper should be stable .", "input costs should increase for energy , chemicals and wood .", "planned maintenance downtime costs are expected to be about $ 19 million lower with an outage scheduled at our georgetown mill versus outages at our courtland and eastover mills in the fourth quarter of 2012 .", "braz i l ian papers net sales for 2012 were $ 1.1 bil- lion compared with $ 1.2 billion in 2011 and $ 1.1 bil- lion in 2010 .", "operating profits for 2012 were $ 163 million compared with $ 169 million in 2011 and $ 159 million in 2010 .", "sales volumes in 2012 were higher than in 2011 as international paper improved its segment position in the brazilian market despite weaker year-over-year conditions in most markets .", "average sales price realizations improved for domestic uncoated freesheet paper , but the benefit was more than offset by declining prices for exported paper .", "margins were favorably affected by an increased proportion of sales to the higher- margin domestic market .", "raw material costs increased for wood and chemicals , but costs for purchased pulp decreased .", "operating costs and planned maintenance downtime costs were lower than in 2011 .", "looking ahead to 2013 , sales volumes in the first quarter are expected to be lower than in the fourth quarter of 2012 due to seasonally weaker customer demand for uncoated freesheet paper .", "average sales price realizations are expected to increase in the brazilian domestic market due to the realization of an announced sales price increase for uncoated free- sheet paper , but the benefit should be partially offset by pricing pressures in export markets .", "average sales margins are expected to be negatively impacted by a less favorable geographic mix .", "input costs are expected to be about flat due to lower energy costs being offset by higher costs for wood , purchased pulp , chemicals and utilities .", "planned maintenance outage costs should be $ 4 million lower with no outages scheduled in the first quarter .", "operating costs should be favorably impacted by the savings generated by the start-up of a new biomass boiler at the mogi guacu mill .", "european papers net sales in 2012 were $ 1.4 bil- lion compared with $ 1.4 billion in 2011 and $ 1.3 bil- lion in 2010 .", "operating profits in 2012 were $ 179 million compared with $ 196 million ( $ 207 million excluding asset impairment charges related to our inverurie , scotland mill which was closed in 2009 ) in 2011 and $ 197 million ( $ 199 million excluding an asset impairment charge ) in 2010 .", "sales volumes in 2012 compared with 2011 were higher for uncoated freesheet paper in both europe and russia , while sales volumes for pulp were lower in both regions .", "average sales price realizations for uncoated ." ]

[ [ "In millions", "2012", "2011", "2010" ], [ "Sales", "$6,230", "$6,215", "$5,940" ], [ "Operating Profit", "599", "872", "481" ] ]

[ [ "in millions", "2012", "2011", "2010" ], [ "sales", "$ 6230", "$ 6215", "$ 5940" ], [ "operating profit", "599", "872", "481" ] ]

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[ "american tower corporation and subsidiaries notes to consolidated financial statements as of december 31 , 2010 , total unrecognized compensation expense related to unvested restricted stock units granted under the 2007 plan was $ 57.5 million and is expected to be recognized over a weighted average period of approximately two years .", "employee stock purchase plan 2014the company maintains an employee stock purchase plan ( 201cespp 201d ) for all eligible employees .", "under the espp , shares of the company 2019s common stock may be purchased during bi-annual offering periods at 85% ( 85 % ) of the lower of the fair market value on the first or the last day of each offering period .", "employees may purchase shares having a value not exceeding 15% ( 15 % ) of their gross compensation during an offering period and may not purchase more than $ 25000 worth of stock in a calendar year ( based on market values at the beginning of each offering period ) .", "the offering periods run from june 1 through november 30 and from december 1 through may 31 of each year .", "during the 2010 , 2009 and 2008 offering periods employees purchased 75354 , 77509 and 55764 shares , respectively , at weighted average prices per share of $ 34.16 , $ 23.91 and $ 30.08 , respectively .", "the fair value of the espp offerings is estimated on the offering period commencement date using a black-scholes pricing model with the expense recognized over the expected life , which is the six month offering period over which employees accumulate payroll deductions to purchase the company 2019s common stock .", "the weighted average fair value for the espp shares purchased during 2010 , 2009 and 2008 was $ 9.43 , $ 6.65 and $ 7.89 , respectively .", "at december 31 , 2010 , 8.7 million shares remain reserved for future issuance under the plan .", "key assumptions used to apply this pricing model for the years ended december 31 , are as follows: ." ]

[ "13 .", "stockholders 2019 equity warrants 2014in august 2005 , the company completed its merger with spectrasite , inc .", "and assumed outstanding warrants to purchase shares of spectrasite , inc .", "common stock .", "as of the merger completion date , each warrant was exercisable for two shares of spectrasite , inc .", "common stock at an exercise price of $ 32 per warrant .", "upon completion of the merger , each warrant to purchase shares of spectrasite , inc .", "common stock automatically converted into a warrant to purchase shares of the company 2019s common stock , such that upon exercise of each warrant , the holder has a right to receive 3.575 shares of the company 2019s common stock in lieu of each share of spectrasite , inc .", "common stock that would have been receivable under each assumed warrant prior to the merger .", "upon completion of the company 2019s merger with spectrasite , inc. , these warrants were exercisable for approximately 6.8 million shares of common stock .", "of these warrants , warrants to purchase approximately none and 1.7 million shares of common stock remained outstanding as of december 31 , 2010 and 2009 , respectively .", "these warrants expired on february 10 , 2010 .", "stock repurchase program 2014during the year ended december 31 , 2010 , the company repurchased an aggregate of approximately 9.3 million shares of its common stock for an aggregate of $ 420.8 million , including commissions and fees , of which $ 418.6 million was paid in cash prior to december 31 , 2010 and $ 2.2 million was included in accounts payable and accrued expenses in the accompanying consolidated balance sheet as of december 31 , 2010 , pursuant to its publicly announced stock repurchase program , as described below. ." ]

[ [ "", "2010", "2009", "2008" ], [ "Range of risk-free interest rate", "0.22% - 0.23%", "0.29% - 0.44%", "1.99% - 3.28%" ], [ "Weighted average risk-free interest rate", "0.22%", "0.38%", "2.58%" ], [ "Expected life of shares", "6 months", "6 months", "6 months" ], [ "Range of expected volatility of underlying stock price", "35.26% - 35.27%", "35.31% - 36.63%", "27.85% - 28.51%" ], [ "Weighted average expected volatility of underlying stock price", "35.26%", "35.83%", "28.51%" ], [ "Expected annual dividends", "N/A", "N/A", "N/A" ] ]

[ [ "", "2010", "2009", "2008" ], [ "range of risk-free interest rate", "0.22% ( 0.22 % ) - 0.23% ( 0.23 % )", "0.29% ( 0.29 % ) - 0.44% ( 0.44 % )", "1.99% ( 1.99 % ) - 3.28% ( 3.28 % )" ], [ "weighted average risk-free interest rate", "0.22% ( 0.22 % )", "0.38% ( 0.38 % )", "2.58% ( 2.58 % )" ], [ "expected life of shares", "6 months", "6 months", "6 months" ], [ "range of expected volatility of underlying stock price", "35.26% ( 35.26 % ) - 35.27% ( 35.27 % )", "35.31% ( 35.31 % ) - 36.63% ( 36.63 % )", "27.85% ( 27.85 % ) - 28.51% ( 28.51 % )" ], [ "weighted average expected volatility of underlying stock price", "35.26% ( 35.26 % )", "35.83% ( 35.83 % )", "28.51% ( 28.51 % )" ], [ "expected annual dividends", "n/a", "n/a", "n/a" ] ]

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[ "billion at december 31 , 2008 and december 31 , 2007 , respectively .", "securities and other marketable assets held as collateral amounted to $ 27 billion and $ 54 billion , the majority of which collateral is held to reimburse losses realized under securities lending indemnifications .", "the decrease from the prior year is in line with the decrease in the notional amount of these indemnifications , which are collateralized .", "additionally , letters of credit in favor of the company held as collateral amounted to $ 503 million and $ 370 million at december 31 , 2008 and december 31 , 2007 , respectively .", "other property may also be available to the company to cover losses under certain guarantees and indemnifications ; however , the value of such property has not been determined .", "performance risk citigroup evaluates the performance risk of its guarantees based on the assigned referenced counterparty internal or external ratings .", "where external ratings are used , investment-grade ratings are considered to be baa/bbb and above , while anything below is considered non-investment grade .", "the citigroup internal ratings are in line with the related external rating system .", "on certain underlying referenced credits or entities , ratings are not available .", "such referenced credits are included in the 201cnot-rated 201d category .", "the maximum potential amount of the future payments related to guarantees and credit derivatives sold is determined to be the notional amount of these contracts , which is the par amount of the assets guaranteed .", "presented in the table below is the maximum potential amount of future payments classified based upon internal and external credit ratings as of december 31 , 2008 .", "as previously mentioned , the determination of the maximum potential future payments is based on the notional amount of the guarantees without consideration of possible recoveries under recourse provisions or from collateral held or pledged .", "such amounts bear no relationship to the anticipated losses , if any , on these guarantees. ." ]

[ "credit derivatives a credit derivative is a bilateral contract between a buyer and a seller under which the seller sells protection against the credit risk of a particular entity ( 201creference entity 201d or 201creference credit 201d ) .", "credit derivatives generally require that the seller of credit protection make payments to the buyer upon the occurrence of predefined credit events ( commonly referred to as 201csettlement triggers 201d ) .", "these settlement triggers are defined by the form of the derivative and the reference credit and are generally limited to the market standard of failure to pay on indebtedness and bankruptcy of the reference credit and , in a more limited range of transactions , debt restructuring .", "credit derivative transactions referring to emerging market reference credits will also typically include additional settlement triggers to cover the acceleration of indebtedness and the risk of repudiation or a payment moratorium .", "in certain transactions , protection may be provided on a portfolio of referenced credits or asset-backed securities .", "the seller of such protection may not be required to make payment until a specified amount of losses has occurred with respect to the portfolio and/or may only be required to pay for losses up to a specified amount .", "the company makes markets in and trades a range of credit derivatives , both on behalf of clients as well as for its own account .", "through these contracts , the company either purchases or writes protection on either a single name or a portfolio of reference credits .", "the company uses credit derivatives to help mitigate credit risk in its corporate loan portfolio and other cash positions , to take proprietary trading positions , and to facilitate client transactions .", "the range of credit derivatives sold includes credit default swaps , total return swaps and credit options .", "a credit default swap is a contract in which , for a fee , a protection seller ( guarantor ) agrees to reimburse a protection buyer ( beneficiary ) for any losses that occur due to a credit event on a reference entity .", "if there is no credit default event or settlement trigger , as defined by the specific derivative contract , then the guarantor makes no payments to the beneficiary and receives only the contractually specified fee .", "however , if a credit event occurs and in accordance with the specific derivative contract sold , the guarantor will be required to make a payment to the beneficiary .", "a total return swap transfers the total economic performance of a reference asset , which includes all associated cash flows , as well as capital appreciation or depreciation .", "the protection buyer ( beneficiary ) receives a floating rate of interest and any depreciation on the reference asset from the protection seller ( guarantor ) , and in return the protection seller receives the cash flows associated with the reference asset , plus any appreciation .", "thus , the beneficiary will be obligated to make a payment any time the floating interest rate payment according to the total return swap agreement and any depreciation of the reference asset exceed the cash flows associated with the underlying asset .", "a total return swap may terminate upon a default of the reference asset subject to the provisions in the related total return swap agreement between the protection seller ( guarantor ) and the protection buyer ( beneficiary ) . ." ]

[ [ "", "Maximum potential amount of future payments" ], [ "<i>In billions of dollars</i>", "Investment grade", "Non-investment grade", "Not rated", "Total" ], [ "Financial standby letters of credit", "$49.2", "$28.6", "$16.4", "$94.2" ], [ "Performance guarantees", "5.7", "5.0", "5.6", "16.3" ], [ "Derivative instruments deemed to be guarantees", "—", "—", "67.9", "67.9" ], [ "Guarantees of collection of contractual cash flows", "—", "—", "0.3", "0.3" ], [ "Loans sold with recourse", "—", "—", "0.3", "0.3" ], [ "Securities lending indemnifications", "—", "—", "47.6", "47.6" ], [ "Credit card merchant processing", "—", "—", "56.7", "56.7" ], [ "Custody indemnifications and other", "18.5", "3.1", "—", "21.6" ], [ "Total", "$73.4", "$36.7", "$194.8", "$304.9" ] ]

[ [ "in billions of dollars", "maximum potential amount of future payments investment grade", "maximum potential amount of future payments non-investment grade", "maximum potential amount of future payments not rated", "maximum potential amount of future payments total" ], [ "financial standby letters of credit", "$ 49.2", "$ 28.6", "$ 16.4", "$ 94.2" ], [ "performance guarantees", "5.7", "5.0", "5.6", "16.3" ], [ "derivative instruments deemed to be guarantees", "2014", "2014", "67.9", "67.9" ], [ "guarantees of collection of contractual cash flows", "2014", "2014", "0.3", "0.3" ], [ "loans sold with recourse", "2014", "2014", "0.3", "0.3" ], [ "securities lending indemnifications", "2014", "2014", "47.6", "47.6" ], [ "credit card merchant processing", "2014", "2014", "56.7", "56.7" ], [ "custody indemnifications and other", "18.5", "3.1", "2014", "21.6" ], [ "total", "$ 73.4", "$ 36.7", "$ 194.8", "$ 304.9" ] ]

[]

[ "the company has also encountered various quality issues on its aircraft carrier construction and overhaul programs and its virginia-class submarine construction program at its newport news location .", "these primarily involve matters related to filler metal used in pipe welds identified in 2007 , and issues associated with non-nuclear weld inspection and the installation of weapons handling equipment on certain submarines , and certain purchased material quality issues identified in 2009 .", "the company does not believe that resolution of these issues will have a material effect upon its consolidated financial position , results of operations or cash flows .", "environmental matters 2014the estimated cost to complete environmental remediation has been accrued where it is probable that the company will incur such costs in the future to address environmental conditions at currently or formerly owned or leased operating facilities , or at sites where it has been named a potentially responsible party ( 201cprp 201d ) by the environmental protection agency , or similarly designated by another environmental agency , and these costs can be estimated by management .", "these accruals do not include any litigation costs related to environmental matters , nor do they include amounts recorded as asset retirement obligations .", "to assess the potential impact on the company 2019s consolidated financial statements , management estimates the range of reasonably possible remediation costs that could be incurred by the company , taking into account currently available facts on each site as well as the current state of technology and prior experience in remediating contaminated sites .", "these estimates are reviewed periodically and adjusted to reflect changes in facts and technical and legal circumstances .", "management estimates that as of december 31 , 2011 , the probable future costs for environmental remediation is $ 3 million , which is accrued in other current liabilities .", "factors that could result in changes to the company 2019s estimates include : modification of planned remedial actions , increases or decreases in the estimated time required to remediate , changes to the determination of legally responsible parties , discovery of more extensive contamination than anticipated , changes in laws and regulations affecting remediation requirements , and improvements in remediation technology .", "should other prps not pay their allocable share of remediation costs , the company may have to incur costs exceeding those already estimated and accrued .", "in addition , there are certain potential remediation sites where the costs of remediation cannot be reasonably estimated .", "although management cannot predict whether new information gained as projects progress will materially affect the estimated liability accrued , management does not believe that future remediation expenditures will have a material effect on the company 2019s consolidated financial position , results of operations or cash flows .", "financial arrangements 2014in the ordinary course of business , hii uses standby letters of credit issued by commercial banks and surety bonds issued by insurance companies principally to support the company 2019s self-insured workers 2019 compensation plans .", "at december 31 , 2011 , there were $ 121 million of standby letters of credit issued but undrawn and $ 297 million of surety bonds outstanding related to hii .", "u.s .", "government claims 2014from time to time , the u.s .", "government advises the company of claims and penalties concerning certain potential disallowed costs .", "when such findings are presented , the company and u.s .", "government representatives engage in discussions to enable hii to evaluate the merits of these claims as well as to assess the amounts being claimed .", "the company does not believe that the outcome of any such matters will have a material effect on its consolidated financial position , results of operations or cash flows .", "collective bargaining agreements 2014the company believes that it maintains good relations with its approximately 38000 employees of which approximately 50% ( 50 % ) are covered by a total of 10 collective bargaining agreements .", "the company expects to renegotiate renewals of each of its collective bargaining agreements between 2013 and 2015 as they approach expiration .", "collective bargaining agreements generally expire after three to five years and are subject to renegotiation at that time .", "it is not expected that the results of these negotiations , either individually or in the aggregate , will have a material effect on the company 2019s consolidated results of operations .", "operating leases 2014rental expense for operating leases was $ 44 million in 2011 , $ 44 million in 2010 , and $ 48 million in 2009 .", "these amounts are net of immaterial amounts of sublease rental income .", "minimum rental commitments under long- term non-cancellable operating leases for the next five years and thereafter are : ( $ in millions ) ." ]

[ "." ]

[ [ "2012", "$21" ], [ "2013", "17" ], [ "2014", "15" ], [ "2015", "13" ], [ "2016", "10" ], [ "Thereafter", "48" ], [ "Total", "$124" ] ]

[ [ "2012", "$ 21" ], [ "2013", "17" ], [ "2014", "15" ], [ "2015", "13" ], [ "2016", "10" ], [ "thereafter", "48" ], [ "total", "$ 124" ] ]

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[ "american tower corporation and subsidiaries notes to consolidated financial statements mexico litigation 2014one of the company 2019s subsidiaries , spectrasite communications , inc .", "( 201csci 201d ) , is involved in a lawsuit brought in mexico against a former mexican subsidiary of sci ( the subsidiary of sci was sold in 2002 , prior to the company 2019s merger with sci 2019s parent in 2005 ) .", "the lawsuit concerns a terminated tower construction contract and related agreements with a wireless carrier in mexico .", "the primary issue for the company is whether sci itself can be found liable to the mexican carrier .", "the trial and lower appellate courts initially found that sci had no such liability in part because mexican courts do not have the necessary jurisdiction over sci .", "following several decisions by mexican appellate courts , including the supreme court of mexico , and related appeals by both parties , an intermediate appellate court issued a new decision that would , if enforceable , reimpose liability on sci in september 2010 .", "in its decision , the intermediate appellate court identified potential damages of approximately $ 6.7 million , and on october 14 , 2010 , the company filed a new constitutional appeal to again dispute the decision .", "as a result , at this stage of the proceeding , the company is unable to determine whether the liability imposed on sci by the september 2010 decision will survive or to estimate its share , if any , of that potential liability if the decision survives the pending appeal .", "xcel litigation 2014on june 3 , 2010 , horse-shoe capital ( 201chorse-shoe 201d ) , a company formed under the laws of the republic of mauritius , filed a complaint in the supreme court of the state of new york , new york county , with respect to horse-shoe 2019s sale of xcel to american tower mauritius ( 201catmauritius 201d ) , the company 2019s wholly-owned subsidiary formed under the laws of the republic of mauritius .", "the complaint names atmauritius , ati and the company as defendants , and the dispute concerns the timing and amount of distributions to be made by atmauritius to horse-shoe from a $ 7.5 million holdback escrow account and a $ 15.7 million tax escrow account , each established by the transaction agreements at closing .", "the complaint seeks release of the entire holdback escrow account , plus an additional $ 2.8 million , as well as the release of approximately $ 12.0 million of the tax escrow account .", "the complaint also seeks punitive damages in excess of $ 69.0 million .", "the company filed an answer to the complaint in august 2010 , disputing both the amounts alleged to be owed under the escrow agreements as well as the timing of the escrow distributions .", "the company also asserted in its answer that the demand for punitive damages is meritless .", "the parties have filed cross-motions for summary judgment concerning the release of the tax escrow account and in january 2011 the court granted the company 2019s motion for summary judgment , finding no obligation for the company to release the disputed portion of the tax escrow until 2013 .", "other claims are pending .", "the company is vigorously defending the lawsuit .", "lease obligations 2014the company leases certain land , office and tower space under operating leases that expire over various terms .", "many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option .", "escalation clauses present in operating leases , excluding those tied to cpi or other inflation-based indices , are recognized on a straight-line basis over the non-cancellable term of the lease .", "future minimum rental payments under non-cancellable operating leases include payments for certain renewal periods at the company 2019s option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases , thereby making it reasonably assured that the company will renew the lease .", "such payments in effect at december 31 , 2010 are as follows ( in thousands ) : year ending december 31 ." ]

[ "." ]

[ [ "2011", "$257,971" ], [ "2012", "254,575" ], [ "2013", "251,268" ], [ "2014", "246,392" ], [ "2015", "238,035" ], [ "Thereafter", "2,584,332" ], [ "Total", "$3,832,573" ] ]

[ [ "2011", "$ 257971" ], [ "2012", "254575" ], [ "2013", "251268" ], [ "2014", "246392" ], [ "2015", "238035" ], [ "thereafter", "2584332" ], [ "total", "$ 3832573" ] ]

[]

[ "in a new business model such as the retail segment is inherently risky , particularly in light of the significant investment involved , the current economic climate , and the fixed nature of a substantial portion of the retail segment's operating expenses .", "results for this segment are dependent upon a number of risks and uncertainties , some of which are discussed below under the heading \"factors that may affect future results and financial condition.\" backlog in the company's experience , the actual amount of product backlog at any particular time is not a meaningful indication of its future business prospects .", "in particular , backlog often increases in anticipation of or immediately following new product introductions because of over- ordering by dealers anticipating shortages .", "backlog often is reduced once dealers and customers believe they can obtain sufficient supply .", "because of the foregoing , backlog cannot be considered a reliable indicator of the company's ability to achieve any particular level of revenue or financial performance .", "further information regarding the company's backlog may be found below under the heading \"factors that may affect future results and financial condition.\" gross margin gross margin for the three fiscal years ended september 28 , 2002 are as follows ( in millions , except gross margin percentages ) : gross margin increased to 28% ( 28 % ) of net sales in 2002 from 23% ( 23 % ) in 2001 .", "as discussed below , gross margin in 2001 was unusually low resulting from negative gross margin of 2% ( 2 % ) experienced in the first quarter of 2001 .", "as a percentage of net sales , the company's quarterly gross margins declined during fiscal 2002 from 31% ( 31 % ) in the first quarter down to 26% ( 26 % ) in the fourth quarter .", "this decline resulted from several factors including a rise in component costs as the year progressed and aggressive pricing by the company across its products lines instituted as a result of continued pricing pressures in the personal computer industry .", "the company anticipates that its gross margin and the gross margin of the overall personal computer industry will remain under pressure throughout fiscal 2003 in light of weak economic conditions , flat demand for personal computers in general , and the resulting pressure on prices .", "the foregoing statements regarding anticipated gross margin in 2003 and the general demand for personal computers during 2003 are forward- looking .", "gross margin could differ from anticipated levels because of several factors , including certain of those set forth below in the subsection entitled \"factors that may affect future results and financial condition.\" there can be no assurance that current gross margins will be maintained , targeted gross margin levels will be achieved , or current margins on existing individual products will be maintained .", "in general , gross margins and margins on individual products will remain under significant downward pressure due to a variety of factors , including continued industry wide global pricing pressures , increased competition , compressed product life cycles , potential increases in the cost and availability of raw material and outside manufacturing services , and potential changes to the company's product mix , including higher unit sales of consumer products with lower average selling prices and lower gross margins .", "in response to these downward pressures , the company expects it will continue to take pricing actions with respect to its products .", "gross margins could also be affected by the company's ability to effectively manage quality problems and warranty costs and to stimulate demand for certain of its products .", "the company's operating strategy and pricing take into account anticipated changes in foreign currency exchange rates over time ; however , the company's results of operations can be significantly affected in the short-term by fluctuations in exchange rates .", "the company orders components for its products and builds inventory in advance of product shipments .", "because the company's markets are volatile and subject to rapid technology and price changes , there is a risk the company will forecast incorrectly and produce or order from third parties excess or insufficient inventories of particular products or components .", "the company's operating results and financial condition have been in the past and may in the future be materially adversely affected by the company's ability to manage its inventory levels and outstanding purchase commitments and to respond to short-term shifts in customer demand patterns .", "gross margin declined to 23% ( 23 % ) of net sales in 2001 from 27% ( 27 % ) in 2000 .", "this decline resulted primarily from gross margin of negative 2% ( 2 % ) experienced during the first quarter of 2001 compared to 26% ( 26 % ) gross margin for the same quarter in 2000 .", "in addition to lower than normal net ." ]

[ "." ]

[ [ "", "2002", "2001", "2000" ], [ "Net sales", "$5,742", "$5,363", "$7,983" ], [ "Cost of sales", "4,139", "4,128", "5,817" ], [ "Gross margin", "$1,603", "$1,235", "$2,166" ], [ "Gross margin percentage", "28%", "23%", "27%" ] ]

[ [ "", "2002", "2001", "2000" ], [ "net sales", "$ 5742", "$ 5363", "$ 7983" ], [ "cost of sales", "4139", "4128", "5817" ], [ "gross margin", "$ 1603", "$ 1235", "$ 2166" ], [ "gross margin percentage", "28% ( 28 % )", "23% ( 23 % )", "27% ( 27 % )" ] ]

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[ "( a ) excludes discontinued operations .", "( b ) earnings before interest expense and taxes as a percent of average total assets .", "( c ) total debt as a percent of the sum of total debt , shareholders 2019 equity and non-current deferred income tax liabilities .", "the results above include the impact of the specified items detailed below .", "additional discussion regarding the specified items in fiscal years 2017 , 2016 and 2015 are provided in item 7 .", "management 2019s discussion and analysis of financial condition and results of operations. ." ]

[ "item 7 .", "management 2019s discussion and analysis of financial condition and results of operations the following commentary should be read in conjunction with the consolidated financial statements and accompanying notes .", "within the tables presented throughout this discussion , certain columns may not add due to the use of rounded numbers for disclosure purposes .", "percentages and earnings per share amounts presented are calculated from the underlying amounts .", "references to years throughout this discussion relate to our fiscal years , which end on september 30 .", "company overview description of the company and business segments becton , dickinson and company ( 201cbd 201d ) is a global medical technology company engaged in the development , manufacture and sale of a broad range of medical supplies , devices , laboratory equipment and diagnostic products used by healthcare institutions , life science researchers , clinical laboratories , the pharmaceutical industry and the general public .", "the company's organizational structure is based upon two principal business segments , bd medical ( 201cmedical 201d ) and bd life sciences ( 201clife sciences 201d ) .", "bd 2019s products are manufactured and sold worldwide .", "our products are marketed in the united states and internationally through independent distribution channels and directly to end-users by bd and independent sales representatives .", "we organize our operations outside the united states as follows : europe ; ema ( which includes the commonwealth of independent states , the middle east and africa ) ; greater asia ( which includes japan and asia pacific ) ; latin america ( which includes mexico , central america , the caribbean , and south america ) ; and canada .", "we continue to pursue growth opportunities in emerging markets , which include the following geographic regions : eastern europe , the middle east , africa , latin america and certain countries within asia pacific .", "we are primarily focused on certain countries whose healthcare systems are expanding , in particular , china and india .", "strategic objectives bd remains focused on delivering sustainable growth and shareholder value , while making appropriate investments for the future .", "bd management operates the business consistent with the following core strategies : 2022 to increase revenue growth by focusing on our core products , services and solutions that deliver greater benefits to patients , healthcare workers and researchers; ." ]

[ [ "", "Years Ended September 30" ], [ "Millions of dollars, except per share amounts", "2017", "2016", "2015", "2014", "2013" ], [ "Total specified items", "$1,466", "$1,261", "$1,186", "$153", "$442" ], [ "After-tax impact of specified items", "$971", "$892", "$786", "$101", "$279" ], [ "Impact of specified items on diluted earnings per share", "$(4.34)", "$(4.10)", "$(3.79)", "$(0.51)", "$(1.40)" ], [ "Impact of dilution from share issuances", "$(0.54)", "$—", "$(0.02)", "$—", "$—" ] ]

[ [ "millions of dollars except per share amounts", "years ended september 30 2017", "years ended september 30 2016", "years ended september 30 2015", "years ended september 30 2014", "years ended september 30 2013" ], [ "total specified items", "$ 1466", "$ 1261", "$ 1186", "$ 153", "$ 442" ], [ "after-tax impact of specified items", "$ 971", "$ 892", "$ 786", "$ 101", "$ 279" ], [ "impact of specified items on diluted earnings per share", "$ -4.34 ( 4.34 )", "$ -4.10 ( 4.10 )", "$ -3.79 ( 3.79 )", "$ -0.51 ( 0.51 )", "$ -1.40 ( 1.40 )" ], [ "impact of dilution from share issuances", "$ -0.54 ( 0.54 )", "$ 2014", "$ -0.02 ( 0.02 )", "$ 2014", "$ 2014" ] ]

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[ "notes to consolidated financial statements 2014 ( continued ) fiscal years ended may 27 , 2007 , may 28 , 2006 , and may 29 , 2005 columnar amounts in millions except per share amounts due to the purchase price of the cattle feeding business being entirely financed by the company , the legal divestiture of the cattle feeding operation was not recognized as a divestiture for accounting purposes , and the assets , liabilities and results of operations of the cattle feeding business were reflected in continuing operations in the company 2019s financial statements prior to october 15 , 2004 .", "on september 24 , 2004 , the company reached an agreement with affiliates of swift foods by which the company took control and ownership of approximately $ 300 million of the net assets of the cattle feeding business , including feedlots and live cattle .", "on october 15 , 2004 , the company sold the feedlots to smithfield foods for approximately $ 70 million .", "these transactions resulted in a gain of approximately $ 19 million ( net of taxes of $ 11.6 million ) .", "the company retained live cattle inventory and related derivative instruments and liquidated those assets in an orderly manner over the succeeding several months .", "beginning september 24 , 2004 , the assets , liabilities and results of operations , including the gain on sale , of the cattle feeding business are classified as discontinued operations .", "culturelle business during the first quarter of fiscal 2007 , the company completed its divestiture of its nutritional supplement business for proceeds of approximately $ 8.2 million , resulting in a pre-tax gain of approximately $ 6.2 million ( $ 3.5 million after tax ) .", "the company reflects this gain within discontinued operations .", "the results of the aforementioned businesses which have been divested are included within discontinued operations .", "the summary comparative financial results of discontinued operations were as follows: ." ]

[ "the effective tax rate for discontinued operations is significantly higher than the statutory rate due to the nondeductibility of certain goodwill of divested businesses .", "other assets held for sale during the third quarter of fiscal 2006 , the company initiated a plan to dispose of a refrigerated pizza business with annual revenues of less than $ 70 million .", "during the second quarter of fiscal 2007 , the company disposed of this business for proceeds of approximately $ 22.0 million , resulting in no significant gain or loss .", "due to the company 2019s expected significant continuing cash flows associated with this business , the results of operations of this business are included in continuing operations for all periods presented .", "the assets and liabilities of this business are classified as assets and liabilities held for sale in the consolidated balance sheets for all periods prior to the sale .", "during the second quarter of fiscal 2007 , the company completed the disposal of an oat milling business for proceeds of approximately $ 35.8 million , after final working capital adjustments made during the third quarter ." ]

[ [ "", "2007", "2006", "2005" ], [ "Net sales", "$727.6", "$2,690.0", "$4,131.7" ], [ "Long-lived asset impairment charge", "(21.1)", "(240.9)", "(59.4)" ], [ "Income from operations of discontinued operations before income taxes", "92.5", "179.7", "157.7" ], [ "Net gain from disposal of businesses", "64.3", "115.5", "26.3" ], [ "Income before income taxes", "135.7", "54.3", "124.6" ], [ "Income tax expense", "(54.9)", "(109.8)", "(41.8)" ], [ "Income (loss) from discontinued operations, net of tax", "$80.8", "$(55.5)", "$82.8" ] ]

[ [ "", "2007", "2006", "2005" ], [ "net sales", "$ 727.6", "$ 2690.0", "$ 4131.7" ], [ "long-lived asset impairment charge", "-21.1 ( 21.1 )", "-240.9 ( 240.9 )", "-59.4 ( 59.4 )" ], [ "income from operations of discontinued operations before income taxes", "92.5", "179.7", "157.7" ], [ "net gain from disposal of businesses", "64.3", "115.5", "26.3" ], [ "income before income taxes", "135.7", "54.3", "124.6" ], [ "income tax expense", "-54.9 ( 54.9 )", "-109.8 ( 109.8 )", "-41.8 ( 41.8 )" ], [ "income ( loss ) from discontinued operations net of tax", "$ 80.8", "$ -55.5 ( 55.5 )", "$ 82.8" ] ]

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[ "table of contents company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the s&p computer hardware index , and the dow jones u.s .", "technology supersector index .", "the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p computer hardware index , and the dow jones u.s .", "technology supersector index as of the market close on september 30 , 2008 .", "data points on the graph are annual .", "note that historic stock price performance is not necessarily indicative of future stock price performance .", "fiscal year ending september 30 .", "copyright 2013 s&p , a division of the mcgraw-hill companies inc .", "all rights reserved .", "copyright 2013 dow jones & co .", "all rights reserved .", "*$ 100 invested on 9/30/08 in stock or index , including reinvestment of dividends .", "september 30 , september 30 , september 30 , september 30 , september 30 , september 30 ." ]

[ "." ]

[ [ "", "September 30, 2008", "September 30, 2009", "September 30, 2010", "September 30, 2011", "September 30, 2012", "September 30, 2013" ], [ "Apple Inc.", "$100", "$163", "$250", "$335", "$589", "$431" ], [ "S&P 500 Index", "$100", "$ 93", "$103", "$104", "$135", "$161" ], [ "S&P Computer Hardware Index", "$100", "$118", "$140", "$159", "$255", "$197" ], [ "Dow Jones US Technology Supersector Index", "$100", "$111", "$124", "$128", "$166", "$175" ] ]

[ [ "", "september 30 2008", "september 30 2009", "september 30 2010", "september 30 2011", "september 30 2012", "september 30 2013" ], [ "apple inc .", "$ 100", "$ 163", "$ 250", "$ 335", "$ 589", "$ 431" ], [ "s&p 500 index", "$ 100", "$ 93", "$ 103", "$ 104", "$ 135", "$ 161" ], [ "s&p computer hardware index", "$ 100", "$ 118", "$ 140", "$ 159", "$ 255", "$ 197" ], [ "dow jones us technology supersector index", "$ 100", "$ 111", "$ 124", "$ 128", "$ 166", "$ 175" ] ]

[]

[ "the company files income tax returns in the u.s .", "federal jurisdiction , and various states and foreign jurisdictions .", "with few exceptions , the company is no longer subject to u.s .", "federal , state and local , or non-u.s .", "income tax examinations by tax authorities for years before 1999 .", "it is anticipated that its examination for the company 2019s u.s .", "income tax returns for the years 2002 through 2004 will be completed by the end of first quarter 2008 .", "as of december 31 , 2007 , the irs has proposed adjustments to the company 2019s tax positions for which the company is fully reserved .", "payments relating to any proposed assessments arising from the 2002 through 2004 audit may not be made until a final agreement is reached between the company and the irs on such assessments or upon a final resolution resulting from the administrative appeals process or judicial action .", "in addition to the u.s .", "federal examination , there is also limited audit activity in several u.s .", "state and foreign jurisdictions .", "currently , the company expects the liability for unrecognized tax benefits to change by an insignificant amount during the next 12 months .", "the company adopted the provisions of fasb interpretation no .", "48 , 201caccounting for uncertainty in income taxes , 201d on january 1 , 2007 .", "as a result of the implementation of interpretation 48 , the company recognized an immaterial increase in the liability for unrecognized tax benefits , which was accounted for as a reduction to the january 1 , 2007 , balance of retained earnings .", "a reconciliation of the beginning and ending amount of gross unrecognized tax benefits ( 201cutb 201d ) is as follows : ( millions ) federal , state , and foreign tax ." ]

[ "the total amount of unrecognized tax benefits that , if recognized , would affect the effective tax rate as of january 1 , 2007 and december 31 , 2007 , respectively , are $ 261 million and $ 334 million .", "the ending net utb results from adjusting the gross balance at december 31 , 2007 for items such as federal , state , and non-u.s .", "deferred items , interest and penalties , and deductible taxes .", "the net utb is included as components of accrued income taxes and other liabilities within the consolidated balance sheet .", "the company recognizes interest and penalties accrued related to unrecognized tax benefits in tax expense .", "at january 1 , 2007 and december 31 , 2007 , accrued interest and penalties on a gross basis were $ 65 million and $ 69 million , respectively .", "included in these interest and penalty amounts is interest and penalties related to tax positions for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility .", "because of the impact of deferred tax accounting , other than interest and penalties , the disallowance of the shorter deductibility period would not affect the annual effective tax rate but would accelerate the payment of cash to the taxing authority to an earlier period .", "in 2007 , the company completed the preparation and filing of its 2006 u.s .", "federal and state income tax returns , which did not result in any material changes to the company 2019s financial position .", "in 2006 , an audit of the company 2019s u.s .", "tax returns for years through 2001 was completed .", "the company and the internal revenue service reached a final settlement for these years , including an agreement on the amount of a refund claim to be filed by the company .", "the company also substantially resolved audits in certain european countries .", "in addition , the company completed the preparation and filing of its 2005 u.s .", "federal income tax return and the corresponding 2005 state income tax returns .", "the adjustments from amounts previously estimated in the u.s .", "federal and state income tax returns ( both positive and negative ) included lower u.s .", "taxes on dividends received from the company's foreign subsidiaries .", "the company also made quarterly adjustments ( both positive and negative ) to its reserves for tax contingencies .", "considering the developments noted above and other factors , including the impact on open audit years of the recent resolution of issues in various audits , these reassessments resulted in a reduction of the reserves in 2006 by $ 149 million , inclusive of the expected amount of certain refund claims .", "in 2005 , the company announced its intent to reinvest $ 1.7 billion of foreign earnings in the united states pursuant to the provisions of the american jobs creation act of 2004 .", "this act provided the company the opportunity to tax- ." ]

[ [ "(Millions)", "Federal, State, and Foreign Tax" ], [ "Gross UTB Balance at January 1, 2007", "$691" ], [ "Additions based on tax positions related to the current year", "79" ], [ "Additions for tax positions of prior years", "143" ], [ "Reductions for tax positions of prior years", "(189)" ], [ "Settlements", "(24)" ], [ "Reductions due to lapse of applicable statute of limitations", "(20)" ], [ "Gross UTB Balance at December 31, 2007", "$680" ], [ "Net UTB impacting the effective tax rate at December 31, 2007", "$334" ] ]

[ [ "( millions )", "federal state and foreign tax" ], [ "gross utb balance at january 1 2007", "$ 691" ], [ "additions based on tax positions related to the current year", "79" ], [ "additions for tax positions of prior years", "143" ], [ "reductions for tax positions of prior years", "-189 ( 189 )" ], [ "settlements", "-24 ( 24 )" ], [ "reductions due to lapse of applicable statute of limitations", "-20 ( 20 )" ], [ "gross utb balance at december 31 2007", "$ 680" ], [ "net utb impacting the effective tax rate at december 31 2007", "$ 334" ] ]

[ { "arg1": "65", "arg2": "69", "op": "add2-1", "res": "134" }, { "arg1": "#0", "arg2": "691", "op": "divide2-2", "res": "19.4%" } ]

[ "note 12 derivative instruments and fair value measurements the company is exposed to certain market risks such as changes in interest rates , foreign currency exchange rates , and commodity prices , which exist as a part of its ongoing business operations .", "management uses derivative financial and commodity instruments , including futures , options , and swaps , where appropriate , to manage these risks .", "instruments used as hedges must be effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the contract .", "the company designates derivatives as cash flow hedges , fair value hedges , net investment hedges , and uses other contracts to reduce volatility in interest rates , foreign currency and commodities .", "as a matter of policy , the company does not engage in trading or speculative hedging transactions .", "total notional amounts of the company 2019s derivative instruments as of december 29 , 2012 and december 31 , 2011 were as follows: ." ]

[ "following is a description of each category in the fair value hierarchy and the financial assets and liabilities of the company that were included in each category at december 29 , 2012 and december 31 , 2011 , measured on a recurring basis .", "level 1 2014 financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market .", "for the company , level 1 financial assets and liabilities consist primarily of commodity derivative contracts .", "level 2 2014 financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability .", "for the company , level 2 financial assets and liabilities consist of interest rate swaps and over-the-counter commodity and currency contracts .", "the company 2019s calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve .", "over-the-counter commodity derivatives are valued using an income approach based on the commodity index prices less the contract rate multiplied by the notional amount .", "foreign currency contracts are valued using an income approach based on forward rates less the contract rate multiplied by the notional amount .", "the company 2019s calculation of the fair value of level 2 financial assets and liabilities takes into consideration the risk of nonperformance , including counterparty credit risk .", "level 3 2014 financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement .", "these inputs reflect management 2019s own assumptions about the assumptions a market participant would use in pricing the asset or liability .", "the company did not have any level 3 financial assets or liabilities as of december 29 , 2012 or december 31 , 2011 .", "the following table presents assets and liabilities that were measured at fair value in the consolidated balance sheet on a recurring basis as of december 29 , 2012 and december 31 , 2011 : derivatives designated as hedging instruments : 2012 2011 ( millions ) level 1 level 2 total level 1 level 2 total assets : foreign currency exchange contracts : other current assets $ 2014 $ 4 $ 4 $ 2014 $ 11 $ 11 interest rate contracts ( a ) : other assets 2014 64 64 2014 23 23 commodity contracts : other current assets 2014 2014 2014 2 2014 2 total assets $ 2014 $ 68 $ 68 $ 2 $ 34 $ 36 liabilities : foreign currency exchange contracts : other current liabilities $ 2014 $ ( 3 ) $ ( 3 ) $ 2014 $ ( 18 ) $ ( 18 ) commodity contracts : other current liabilities 2014 ( 11 ) ( 11 ) ( 4 ) ( 12 ) ( 16 ) other liabilities 2014 ( 27 ) ( 27 ) 2014 ( 34 ) ( 34 ) total liabilities $ 2014 $ ( 41 ) $ ( 41 ) $ ( 4 ) $ ( 64 ) $ ( 68 ) ( a ) the fair value of the related hedged portion of the company 2019s long-term debt , a level 2 liability , was $ 2.3 billion as of december 29 , 2012 and $ 626 million as of december 31 , derivatives not designated as hedging instruments : 2012 2011 ( millions ) level 1 level 2 total level 1 level 2 total assets : commodity contracts : other current assets $ 5 $ 2014 $ 5 $ 2014 $ 2014 $ 2014 total assets $ 5 $ 2014 $ 5 $ 2014 $ 2014 $ 2014 liabilities : commodity contracts : other current liabilities $ ( 3 ) $ 2014 $ ( 3 ) $ 2014 $ 2014 $ 2014 total liabilities $ ( 3 ) $ 2014 $ ( 3 ) $ 2014 $ 2014 $ 2014 ." ]

[ [ "(millions)", "2012", "2011" ], [ "Foreign currency exchange contracts", "$570", "$1,265" ], [ "Interest rate contracts", "2,150", "600" ], [ "Commodity contracts", "136", "175" ], [ "Total", "$2,856", "$2,040" ] ]

[ [ "( millions )", "2012", "2011" ], [ "foreign currency exchange contracts", "$ 570", "$ 1265" ], [ "interest rate contracts", "2150", "600" ], [ "commodity contracts", "136", "175" ], [ "total", "$ 2856", "$ 2040" ] ]

[]

[ "notes to the audited consolidated financial statements director stock compensation subplan eastman's 2016 director stock compensation subplan ( \"directors' subplan\" ) , a component of the 2012 omnibus plan , remains in effect until terminated by the board of directors or the earlier termination of thf e 2012 omnibus plan .", "the directors' subplan provides for structured awards of restricted shares to non-employee members of the board of directors .", "restricted shares awarded under the directors' subplan are subject to the same terms and conditions of the 2012 omnibus plan .", "the directors' subplan does not constitute a separate source of shares for grant of equity awards and all shares awarded are part of the 10 million shares authorized under the 2012 omnibus plan .", "shares of restricted stock are granted on the first day of a non-f employee director's initial term of service and shares of restricted stock are granted each year to each non-employee director on the date of the annual meeting of stockholders .", "general the company is authorized by the board of directors under the 2012 omnibus plan tof provide awards to employees and non- employee members of the board of directors .", "it has been the company's practice to issue new shares rather than treasury shares for equity awards that require settlement by the issuance of common stock and to withhold or accept back shares awarded to cover the related income tax obligations of employee participants .", "shares of unrestricted common stock owned by non-d employee directors are not eligible to be withheld or acquired to satisfy the withholding obligation related to their income taxes .", "aa shares of unrestricted common stock owned by specified senior management level employees are accepted by the company to pay the exercise price of stock options in accordance with the terms and conditions of their awards .", "for 2016 , 2015 , and 2014 , total share-based compensation expense ( before tax ) of approximately $ 36 million , $ 36 million , and $ 28 million , respectively , was recognized in selling , general and administrative exd pense in the consolidated statements of earnings , comprehensive income and retained earnings for all share-based awards of which approximately $ 7 million , $ 7 million , and $ 4 million , respectively , related to stock options .", "the compensation expense is recognized over the substantive vesting period , which may be a shorter time period than the stated vesting period for qualifying termination eligible employees as defined in the forms of award notice .", "for 2016 , 2015 , and 2014 , approximately $ 2 million , $ 2 million , and $ 1 million , respectively , of stock option compensation expense was recognized due to qualifying termination eligibility preceding the requisite vesting period .", "stock option awards options have been granted on an annual basis to non-employee directors under the directors' subplan and predecessor plans and by the compensation and management development committee of the board of directors under the 2012 omnibus plan and predecessor plans to employees .", "option awards have an exercise price equal to the closing price of the company's stock on the date of grant .", "the term of options is 10 years with vesting periods thf at vary up to three years .", "vesting usually occurs ratably over the vesting period or at the end of the vesting period .", "the company utilizes the black scholes merton option valuation model which relies on certain assumptions to estimate an option's fair value .", "the weighted average assumptions used in the determination of fair value for stock options awarded in 2016 , 2015 , and 2014 are provided in the table below: ." ]

[ "." ]

[ [ "Assumptions", "2016", "2015", "2014" ], [ "Expected volatility rate", "23.71%", "24.11%", "25.82%" ], [ "Expected dividend yield", "2.31%", "1.75%", "1.70%" ], [ "Average risk-free interest rate", "1.23%", "1.45%", "1.44%" ], [ "Expected term years", "5.0", "4.8", "4.7" ] ]

[ [ "assumptions", "2016", "2015", "2014" ], [ "expected volatility rate", "23.71% ( 23.71 % )", "24.11% ( 24.11 % )", "25.82% ( 25.82 % )" ], [ "expected dividend yield", "2.31% ( 2.31 % )", "1.75% ( 1.75 % )", "1.70% ( 1.70 % )" ], [ "average risk-free interest rate", "1.23% ( 1.23 % )", "1.45% ( 1.45 % )", "1.44% ( 1.44 % )" ], [ "expected term years", "5.0", "4.8", "4.7" ] ]

[ { "arg1": "36", "arg2": "28", "op": "minus1-1", "res": "8" }, { "arg1": "#0", "arg2": "28", "op": "divide1-2", "res": "28.5%" } ]

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

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

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

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

[ { "arg1": "186.20", "arg2": "const_100", "op": "minus1-1", "res": "86.20" }, { "arg1": "#0", "arg2": "const_100", "op": "divide1-2", "res": "86.20%" } ]

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

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

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

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

[ { "arg1": "900", "arg2": "1560", "op": "add2-1", "res": "2460" }, { "arg1": "#0", "arg2": "190", "op": "add2-2", "res": "2650" }, { "arg1": "#1", "arg2": "5800", "op": "add2-3", "res": "8450" } ]

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

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

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

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

[]