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FINQA2900 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis jpmorgan chase & co . / 2008 annual report 39 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co . ( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 stock index and the s&p financial index . the s&p 500 index is a commonly referenced u.s . equity benchmark consisting of leading companies from different economic sectors . the s&p financial index is an index of 81 financial companies , all of which are within the s&p 500 . the firm is a component of both industry indices . the following table and graph assumes simultaneous investments of $ 100 on december 31 , 2003 , in jpmorgan chase common stock and in each of the above s&p indices . the comparison assumes that all dividends are reinvested . this section of the jpmorgan chase 2019s annual report for the year ended december 31 , 2008 ( 201cannual report 201d ) provides manage- ment 2019s discussion and analysis of the financial condition and results of operations ( 201cmd&a 201d ) of jpmorgan chase . see the glossary of terms on pages 230 2013233 for definitions of terms used throughout this annual report . the md&a included in this annual report con- tains statements that are forward-looking within the meaning of the private securities litigation reform act of 1995 . such statements are based upon the current beliefs and expectations of jpmorgan december 31 .
|( in dollars )|2003|2004|2005|2006|2007|2008|
|jpmorgan chase|$ 100.00|$ 109.92|$ 116.02|$ 145.36|$ 134.91|$ 100.54|
|s&p financial index|100.00|110.89|118.07|140.73|114.51|51.17|
|s&p500|100.00|110.88|116.33|134.70|142.10|89.53|
december 31 , ( in dollars ) 2003 2004 2005 2006 2007 2008 s&p financial s&p 500jpmorgan chase chase 2019s management and are subject to significant risks and uncer- tainties . these risks and uncertainties could cause jpmorgan chase 2019s results to differ materially from those set forth in such forward-look- ing statements . certain of such risks and uncertainties are described herein ( see forward-looking statements on page 127 of this annual report ) and in the jpmorgan chase annual report on form 10-k for the year ended december 31 , 2008 ( 201c2008 form 10-k 201d ) , in part i , item 1a : risk factors , to which reference is hereby made . introduction jpmorgan chase & co. , a financial holding company incorporated under delaware law in 1968 , is a leading global financial services firm and one of the largest banking institutions in the united states of america ( 201cu.s . 201d ) , with $ 2.2 trillion in assets , $ 166.9 billion in stockholders 2019 equity and operations in more than 60 countries as of december 31 , 2008 . the firm is a leader in investment banking , financial services for consumers and businesses , financial transaction processing and asset management . under the j.p . morgan and chase brands , the firm serves millions of customers in the u.s . and many of the world 2019s most prominent corporate , institutional and government clients . jpmorgan chase 2019s principal bank subsidiaries are jpmorgan chase bank , national association ( 201cjpmorgan chase bank , n.a . 201d ) , a nation- al banking association with branches in 23 states in the u.s. ; and chase bank usa , national association ( 201cchase bank usa , n.a . 201d ) , a national bank that is the firm 2019s credit card issuing bank . jpmorgan chase 2019s principal nonbank subsidiary is j.p . morgan securities inc. , the firm 2019s u.s . investment banking firm . jpmorgan chase 2019s activities are organized , for management reporting purposes , into six business segments , as well as corporate/private equity . the firm 2019s wholesale businesses comprise the investment bank , commercial banking , treasury & securities services and asset management segments . the firm 2019s consumer businesses comprise the retail financial services and card services segments . a description of the firm 2019s business segments , and the products and services they pro- vide to their respective client bases , follows . investment bank j.p . morgan is one of the world 2019s leading investment banks , with deep client relationships and broad product capabilities . the investment bank 2019s clients are corporations , financial institutions , governments and institutional investors . the firm offers a full range of investment banking products and services in all major capital markets , including advising on corporate strategy and structure , cap- ital raising in equity and debt markets , sophisticated risk manage- ment , market-making in cash securities and derivative instruments , prime brokerage and research . the investment bank ( 201cib 201d ) also selectively commits the firm 2019s own capital to principal investing and trading activities . retail financial services retail financial services ( 201crfs 201d ) , which includes the retail banking and consumer lending reporting segments , serves consumers and businesses through personal service at bank branches and through atms , online banking and telephone banking as well as through auto dealerships and school financial aid offices . customers can use more than 5400 bank branches ( third-largest nationally ) and 14500 atms ( second-largest nationally ) as well as online and mobile bank- ing around the clock . more than 21400 branch salespeople assist .
Question: in the retail segment , what is the average number of salespeople in each branch?
Answer: | 3.96296 |
FINQA2901 | Please answer the given financial question based on the context.
Context: 38 2015 ppg annual report and form 10-k notes to the consolidated financial statements 1 . summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc . ( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s . and non-u.s. , that it controls . ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls . for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests . investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting . as a result , ppg 2019s share of the earnings or losses of such equity affiliates is included in the accompanying consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in 201cinvestments 201d in the accompanying consolidated balance sheet . transactions between ppg and its subsidiaries are eliminated in consolidation . use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s . generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period . such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated . actual outcomes could differ from those estimates . revenue recognition the company recognizes revenue when the earnings process is complete . revenue from sales is recognized by all operating segments when goods are shipped and title to inventory and risk of loss passes to the customer or when services have been rendered . shipping and handling costs amounts billed to customers for shipping and handling are reported in 201cnet sales 201d in the accompanying consolidated statement of income . shipping and handling costs incurred by the company for the delivery of goods to customers are included in 201ccost of sales , exclusive of depreciation and amortization 201d in the accompanying consolidated statement of income . selling , general and administrative costs amounts presented as 201cselling , general and administrative 201d in the accompanying consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate- wide functional support in such areas as finance , law , human resources and planning . distribution costs pertain to the movement and storage of finished goods inventory at company- owned and leased warehouses , terminals and other distribution facilities . advertising costs advertising costs are expensed as incurred and totaled $ 324 million , $ 297 million and $ 235 million in 2015 , 2014 and 2013 , respectively . research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. .
|( $ in millions )|2015|2014|2013|
|research and development 2013 total|$ 505|$ 509|$ 479|
|less depreciation on research facilities|19|17|16|
|research and development net|$ 486|$ 492|$ 463|
legal costs legal costs , primarily include costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes , are charged to expense as incurred . foreign currency translation the functional currency of most significant non-u.s . operations is their local currency . assets and liabilities of those operations are translated into u.s . dollars using year-end exchange rates ; income and expenses are translated using the average exchange rates for the reporting period . unrealized foreign currency translation adjustments are deferred in accumulated other comprehensive loss , a separate component of shareholders 2019 equity . cash equivalents cash equivalents are highly liquid investments ( valued at cost , which approximates fair value ) acquired with an original maturity of three months or less . short-term investments short-term investments are highly liquid , high credit quality investments ( valued at cost plus accrued interest ) that have stated maturities of greater than three months to one year . the purchases and sales of these investments are classified as investing activities in the consolidated statement of cash flows . marketable equity securities the company 2019s investment in marketable equity securities is recorded at fair market value and reported in 201cother current assets 201d and 201cinvestments 201d in the accompanying consolidated balance sheet with changes in fair market value recorded in income for those securities designated as trading securities and in other comprehensive income , net of tax , for those designated as available for sale securities. .
Question: did 2015 r&d costs exceed advertising costs?
Answer: | yes |
FINQA2902 | Please answer the given financial question based on the context.
Context: operating profit for the segment increased by 15% ( 15 % ) in 2005 compared to 2004 . operating profit increased by $ 80 million at m&fc mainly due to improved performance on fire control and air defense programs . performance on surface systems programs contributed to an increase in operating profit of $ 50 million at ms2 . pt&ts operating profit increased $ 10 million primarily due to improved performance on simulation and training programs . the increase in backlog during 2006 over 2005 resulted primarily from increased orders on certain platform integration programs in pt&ts . space systems space systems 2019 operating results included the following : ( in millions ) 2006 2005 2004 .
|( in millions )|2006|2005|2004|
|net sales|$ 7923|$ 6820|$ 6359|
|operating profit|746|609|489|
|backlog at year-end|18768|15925|16112|
net sales for space systems increased by 16% ( 16 % ) in 2006 compared to 2005 . during the year , sales growth in satellites and strategic & defensive missile systems ( s&dms ) offset declines in space transportation . the $ 1.1 billion growth in satellites sales was mainly due to higher volume on both government and commercial satellite programs . there were five commercial satellite deliveries in 2006 compared to no deliveries in 2005 . higher volume in both fleet ballistic missile and missile defense programs accounted for the $ 114 million sales increase at s&dms . in space transportation , sales declined $ 102 million primarily due to lower volume in government space transportation activities on the titan and external tank programs . increased sales on the atlas evolved expendable launch vehicle launch capabilities ( elc ) contract partially offset the lower government space transportation sales . net sales for space systems increased by 7% ( 7 % ) in 2005 compared to 2004 . during the year , sales growth in satellites and s&dms offset declines in space transportation . the $ 410 million increase in satellites sales was due to higher volume on government satellite programs that more than offset declines in commercial satellite activities . there were no commercial satellite deliveries in 2005 , compared to four in 2004 . increased sales of $ 235 million in s&dms were attributable to the fleet ballistic missile and missile defense programs . the $ 180 million decrease in space transportation 2019s sales was mainly due to having three atlas launches in 2005 compared to six in 2004 . operating profit for the segment increased 22% ( 22 % ) in 2006 compared to 2005 . operating profit increased in satellites , space transportation and s&dms . the $ 72 million growth in satellites operating profit was primarily driven by the volume and performance on government satellite programs and commercial satellite deliveries . in space transportation , the $ 39 million growth in operating profit was attributable to improved performance on the atlas program resulting from risk reduction activities , including the first quarter definitization of the elc contract . in s&dms , the $ 26 million increase in operating profit was due to higher volume and improved performance on both the fleet ballistic missile and missile defense programs . operating profit for the segment increased 25% ( 25 % ) in 2005 compared to 2004 . operating profit increased in space transportation , s&dms and satellites . in space transportation , the $ 60 million increase in operating profit was primarily attributable to improved performance on the atlas vehicle program . satellites 2019 operating profit increased $ 35 million due to the higher volume and improved performance on government satellite programs , which more than offset the decreased operating profit due to the decline in commercial satellite deliveries . the $ 20 million increase in s&dms was attributable to higher volume on fleet ballistic missile and missile defense programs . in december 2006 , we completed a transaction with boeing to form ula , a joint venture which combines the production , engineering , test and launch operations associated with u.s . government launches of our atlas launch vehicles and boeing 2019s delta launch vehicles ( see related discussion on our 201cspace business 201d under 201cindustry considerations 201d ) . we are accounting for our investment in ula under the equity method of accounting . as a result , our share of the net earnings or losses of ula are included in other income and expenses , and we will no longer recognize sales related to launch vehicle services provided to the u.s . government . in 2006 , we recorded sales to the u.s . government for atlas launch services totaling approximately $ 600 million . we have retained the right to market commercial atlas launch services . we contributed assets to ula , and ula assumed liabilities related to our atlas business in exchange for our 50% ( 50 % ) ownership interest . the net book value of the assets contributed and liabilities assumed was approximately $ 200 million at .
Question: what was the profit margin in 2004
Answer: | 0.0769 |
FINQA2903 | Please answer the given financial question based on the context.
Context: we have experienced disputes with customers and suppliers 2014such disputes may lead to increased tensions , damaged relationships or litigation which may result in the loss of a key customer or supplier . we have experienced certain conflicts or disputes with some of our customers and service providers . most of these disputes relate to the interpretation of terms in our contracts . while we seek to resolve such conflicts amicably and have generally resolved customer and supplier disputes on commercially reasonable terms , such disputes may lead to increased tensions and damaged relationships between ourselves and these entities , some of whom are key customers or suppliers of ours . in addition , if we are unable to resolve these differences amicably , we may be forced to litigate these disputes in order to enforce or defend our rights . there can be no assurances as to the outcome of these disputes . damaged relationships or litigation with our key customers or suppliers may lead to decreased revenues ( including as a result of losing a customer ) or increased costs , which could have a material adverse effect on us . our operations in australia expose us to changes in foreign currency exchange rates 2014we may suffer losses as a result of changes in such currency exchange rates . we conduct business in the u.s . and australia , which exposes us to fluctuations in foreign currency exchange rates . for the year ended december 31 , 2004 , approximately 7.5% ( 7.5 % ) of our consolidated revenues originated outside the u.s. , all of which were denominated in currencies other than u.s . dollars , principally australian dollars . we have not historically engaged in significant hedging activities relating to our non-u.s . dollar operations , and we may suffer future losses as a result of changes in currency exchange rates . internet access to reports we maintain an internet website at www.crowncastle.com . our annual reports on form 10-k , quarterly reports on form 10-q , and current reports on form 8-k ( and any amendments to those reports filed or furnished pursuant to section 13 ( a ) or 15 ( d ) of the securities exchange act of 1934 ) are made available , free of charge , through the investor relations section of our internet website at http://investor.crowncastle.com/edgar.cfm as soon as reasonably practicable after we electronically file such material with , or furnish it to , the securities and exchange commission . in addition , our corporate governance guidelines , business practices and ethics policy and the charters of our audit committee , compensation committee and nominating & corporate governance committees are available through the investor relations section of our internet website at http://investor.crowncastle.com/edgar.cfm , and such information is also available in print to any shareholder who requests it . item 2 . properties our principal corporate offices are located in houston , texas ; canonsburg , pennsylvania ; and sydney , australia . location property interest ( sq . ft. ) use .
|location|property interest|size ( sq . ft. )|use|
|canonsburg pa|owned|124000|corporate office|
|houston tx|leased|24300|corporate office|
|sydney australia|leased|15527|corporate office|
in the u.s. , we also lease and maintain five additional regional offices ( called 201carea offices 201d ) located in ( 1 ) albany , new york , ( 2 ) alpharetta , georgia , ( 3 ) charlotte , north carolina , ( 4 ) louisville , kentucky and ( 5 ) phoenix , arizona . the principal responsibilities of these offices are to manage the leasing of tower space on a local basis , maintain the towers already located in the region and service our customers in the area . as of december 31 , 2004 , 8816 of the sites on which our u.s . towers are located , or approximately 83% ( 83 % ) of our u.s . portfolio , were leased , subleased or licensed , while 1796 or approximately 17% ( 17 % ) were owned in fee or through .
Question: about how many towers were leased or subleased in 2004?
Answer: | 7317.28 |
FINQA2904 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements jpmorgan chase & co./2009 annual report 204 on the amount of interest income recognized in the firm 2019s consolidated statements of income since that date . ( b ) other changes in expected cash flows include the net impact of changes in esti- mated prepayments and reclassifications to the nonaccretable difference . on a quarterly basis , the firm updates the amount of loan principal and interest cash flows expected to be collected , incorporating assumptions regarding default rates , loss severities , the amounts and timing of prepayments and other factors that are reflective of current market conditions . probable decreases in expected loan principal cash flows trigger the recognition of impairment , which is then measured as the present value of the expected principal loss plus any related foregone interest cash flows discounted at the pool 2019s effective interest rate . impairments that occur after the acquisition date are recognized through the provision and allow- ance for loan losses . probable and significant increases in expected principal cash flows would first reverse any previously recorded allowance for loan losses ; any remaining increases are recognized prospectively as interest income . the impacts of ( i ) prepayments , ( ii ) changes in variable interest rates , and ( iii ) any other changes in the timing of expected cash flows are recognized prospectively as adjustments to interest income . disposals of loans , which may include sales of loans , receipt of payments in full by the borrower , or foreclosure , result in removal of the loan from the purchased credit-impaired portfolio . if the timing and/or amounts of expected cash flows on these purchased credit-impaired loans were determined not to be rea- sonably estimable , no interest would be accreted and the loans would be reported as nonperforming loans ; however , since the timing and amounts of expected cash flows for these purchased credit-impaired loans are reasonably estimable , interest is being accreted and the loans are being reported as performing loans . charge-offs are not recorded on purchased credit-impaired loans until actual losses exceed the estimated losses that were recorded as purchase accounting adjustments at acquisition date . to date , no charge-offs have been recorded for these loans . purchased credit-impaired loans acquired in the washington mu- tual transaction are reported in loans on the firm 2019s consolidated balance sheets . in 2009 , an allowance for loan losses of $ 1.6 billion was recorded for the prime mortgage and option arm pools of loans . the net aggregate carrying amount of the pools that have an allowance for loan losses was $ 47.2 billion at december 31 , 2009 . this allowance for loan losses is reported as a reduction of the carrying amount of the loans in the table below . the table below provides additional information about these pur- chased credit-impaired consumer loans. .
|december 31 ( in millions )|2009|2008|
|outstanding balance ( a )|$ 103369|$ 118180|
|carrying amount|79664|88813|
( a ) represents the sum of contractual principal , interest and fees earned at the reporting date . purchased credit-impaired loans are also being modified under the mha programs and the firm 2019s other loss mitigation programs . for these loans , the impact of the modification is incorporated into the firm 2019s quarterly assessment of whether a probable and/or signifi- cant change in estimated future cash flows has occurred , and the loans continue to be accounted for as and reported as purchased credit-impaired loans . foreclosed property the firm acquires property from borrowers through loan restructur- ings , workouts , and foreclosures , which is recorded in other assets on the consolidated balance sheets . property acquired may include real property ( e.g. , land , buildings , and fixtures ) and commercial and personal property ( e.g. , aircraft , railcars , and ships ) . acquired property is valued at fair value less costs to sell at acquisition . each quarter the fair value of the acquired property is reviewed and adjusted , if necessary . any adjustments to fair value in the first 90 days are charged to the allowance for loan losses and thereafter adjustments are charged/credited to noninterest revenue 2013other . operating expense , such as real estate taxes and maintenance , are charged to other expense . note 14 2013 allowance for credit losses the allowance for loan losses includes an asset-specific component , a formula-based component and a component related to purchased credit-impaired loans . the asset-specific component relates to loans considered to be impaired , which includes any loans that have been modified in a troubled debt restructuring as well as risk-rated loans that have been placed on nonaccrual status . an asset-specific allowance for impaired loans is established when the loan 2019s discounted cash flows ( or , when available , the loan 2019s observable market price ) is lower than the recorded investment in the loan . to compute the asset-specific component of the allowance , larger loans are evaluated individually , while smaller loans are evaluated as pools using historical loss experience for the respective class of assets . risk-rated loans ( primarily wholesale loans ) are pooled by risk rating , while scored loans ( i.e. , consumer loans ) are pooled by product type . the firm generally measures the asset-specific allowance as the difference between the recorded investment in the loan and the present value of the cash flows expected to be collected , dis- counted at the loan 2019s original effective interest rate . subsequent changes in measured impairment due to the impact of discounting are reported as an adjustment to the provision for loan losses , not as an adjustment to interest income . an asset-specific allowance for an impaired loan with an observable market price is measured as the difference between the recorded investment in the loan and the loan 2019s fair value . certain impaired loans that are determined to be collateral- dependent are charged-off to the fair value of the collateral less costs to sell . when collateral-dependent commercial real-estate loans are determined to be impaired , updated appraisals are typi- cally obtained and updated every six to twelve months . the firm also considers both borrower- and market-specific factors , which .
Question: what was the percent of the pur- chased credit-impaired consumer loans carrying amount to the outstanding balance
Answer: | 0.77068 |
FINQA2905 | Please answer the given financial question based on the context.
Context: royal caribbean cruises ltd . 15 from two to 17 nights throughout south america , the caribbean and europe . additionally , we announced that majesty of the seas will be redeployed from royal caribbean international to pullmantur in 2016 . pullmantur serves the contemporary segment of the spanish , portuguese and latin american cruise mar- kets . pullmantur 2019s strategy is to attract cruise guests from these target markets by providing a variety of cruising options and onboard activities directed at couples and families traveling with children . over the last few years , pullmantur has systematically increased its focus on latin america and has expanded its pres- ence in that market . in order to facilitate pullmantur 2019s ability to focus on its core cruise business , on march 31 , 2014 , pullmantur sold the majority of its interest in its non-core busi- nesses . these non-core businesses included pullmantur 2019s land-based tour operations , travel agency and 49% ( 49 % ) interest in its air business . in connection with the sale agreement , we retained a 19% ( 19 % ) interest in each of the non-core businesses as well as 100% ( 100 % ) ownership of the aircraft which are being dry leased to pullmantur air . see note 1 . general and note 6 . other assets to our consolidated financial statements under item 8 . financial statements and supplementary data for further details . cdf croisi e8res de france we currently operate two ships with an aggregate capacity of approximately 2800 berths under our cdf croisi e8res de france brand . cdf croisi e8res de france offers seasonal itineraries to the mediterranean , europe and caribbean . during the winter season , zenith is deployed to the pullmantur brand for sailings in south america . cdf croisi e8res de france is designed to serve the contemporary segment of the french cruise market by providing a brand tailored for french cruise guests . tui cruises tui cruises is a joint venture owned 50% ( 50 % ) by us and 50% ( 50 % ) by tui ag , a german tourism and shipping com- pany , and is designed to serve the contemporary and premium segments of the german cruise market by offering a product tailored for german guests . all onboard activities , services , shore excursions and menu offerings are designed to suit the preferences of this target market . tui cruises operates three ships , mein schiff 1 , mein schiff 2 and mein schiff 3 , with an aggregate capacity of approximately 6300 berths . in addition , tui cruises currently has three newbuild ships on order at the finnish meyer turku yard with an aggregate capacity of approximately 7500 berths : mein schiff 4 , scheduled for delivery in the second quarter of 2015 , mein schiff 5 , scheduled for delivery in the third quarter of 2016 and mein schiff 6 , scheduled for delivery in the second quarter of 2017 . in november 2014 , we formed a strategic partnership with ctrip.com international ltd . ( 201cctrip 201d ) , a chinese travel service provider , to operate a new cruise brand known as skysea cruises . skysea cruises will offer a custom-tailored product for chinese cruise guests operating the ship purchased from celebrity cruises . the new cruise line will begin service in the second quarter of 2015 . we and ctrip each own 35% ( 35 % ) of the new company , skysea holding , with the balance being owned by skysea holding management and a private equity fund . industry cruising is considered a well-established vacation sector in the north american market , a growing sec- tor over the long term in the european market and a developing but promising sector in several other emerging markets . industry data indicates that market penetration rates are still low and that a significant portion of cruise guests carried are first-time cruisers . we believe this presents an opportunity for long-term growth and a potential for increased profitability . the following table details market penetration rates for north america and europe computed based on the number of annual cruise guests as a percentage of the total population : america ( 1 ) europe ( 2 ) .
|year|north america ( 1 )|europe ( 2 )|
|2010|3.1% ( 3.1 % )|1.1% ( 1.1 % )|
|2011|3.4% ( 3.4 % )|1.1% ( 1.1 % )|
|2012|3.3% ( 3.3 % )|1.2% ( 1.2 % )|
|2013|3.4% ( 3.4 % )|1.2% ( 1.2 % )|
|2014|3.5% ( 3.5 % )|1.3% ( 1.3 % )|
( 1 ) source : our estimates are based on a combination of data obtained from publicly available sources including the interna- tional monetary fund and cruise lines international association ( 201cclia 201d ) . rates are based on cruise guests carried for at least two consecutive nights . includes the united states of america and canada . ( 2 ) source : our estimates are based on a combination of data obtained from publicly available sources including the interna- tional monetary fund and clia europe , formerly european cruise council . we estimate that the global cruise fleet was served by approximately 457000 berths on approximately 283 ships at the end of 2014 . there are approximately 33 ships with an estimated 98650 berths that are expected to be placed in service in the global cruise market between 2015 and 2019 , although it is also possible that ships could be ordered or taken out of service during these periods . we estimate that the global cruise industry carried 22.0 million cruise guests in 2014 compared to 21.3 million cruise guests carried in 2013 and 20.9 million cruise guests carried in 2012 . part i .
Question: how many berths per ship , to the nearest whole number , should be expected in global cruise market between 2015-2019 , assuming each ship has the same amount?
Answer: | 2989.39394 |
FINQA2906 | Please answer the given financial question based on the context.
Context: hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) the aggregate purchase price for suros of approximately $ 248000 ( subject to adjustment ) consisted of 2300 shares of hologic common stock valued at $ 106500 , cash paid of $ 139000 , and approximately $ 2600 for acquisition related fees and expenses . the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no . 99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination . the components and allocation of the purchase price , consists of the following approximate amounts: .
|net tangible assets acquired as of july 27 2006|$ 12000|
|in-process research and development|4900|
|developed technology and know how|46000|
|customer relationship|17900|
|trade name|5800|
|deferred income taxes|-21300 ( 21300 )|
|goodwill|182800|
|estimated purchase price|$ 248100|
the acquisition also provides for a two-year earn out . the earn-out will be payable in two annual cash installments equal to the incremental revenue growth in suros 2019 business in the two years following the closing . the company has considered the provision of eitf issue no . 95-8 , accounting for contingent consideration paid to the shareholders of and acquired enterprise in a purchase business combination , and concluded that this contingent consideration represents additional purchase price . as a result , goodwill will be increased by the amount of the additional consideration , if any , when it becomes due and payable . as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued . it was determined that only customer lists , trademarks and developed technology had separately identifiable values . customer relationships represents suros large installed base that are expected to purchase disposable products on a regular basis . trademarks represent the suros product names that the company intends to continue to use . developed technology represents currently marketable purchased products that the company continues to resell as well as utilize to enhance and incorporate into the company 2019s existing products . the estimated $ 4900 of purchase price allocated to in-process research and development projects primarily related to suros 2019 disposable products . the projects are of various stages of completion and include next generation handpiece and site marker technologies . the company expects that these projects will be completed during fiscal 2007 . the deferred income tax liability relates to the tax effect of acquired identifiable intangible assets , and fair value adjustments to acquired inventory as such amounts are not deductible for tax purposes , partially offset by acquired net operating loss carry forwards that the company believes are realizable . for all of the acquisitions discussed above , goodwill represents the excess of the purchase price over the net identifiable tangible and intangible assets acquired . the company determined that the acquisition of each aeg , r2 and suros resulted in the recognition of goodwill primarily because of synergies unique to the company and the strength of its acquired workforce . supplemental pro-forma information the following unaudited pro forma information presents the consolidated results of operations of the company , r2 and suros as if the acquisitions had occurred at the beginning of each of fiscal 2006 and 2005 .
Question: what percentage of the estimated purchase price is due to developed technology and know how?
Answer: | 0.18541 |
FINQA2907 | Please answer the given financial question based on the context.
Context: the following table summarizes the changes in the total amounts of unrealized tax benefits for fiscal 2009 through fiscal 2011. .
|balance november 1 2008|$ 13750|
|additions for tax positions of 2009|4411|
|balance october 31 2009|18161|
|additions for tax positions of 2010|286|
|balance october 30 2010|$ 18447|
|additions for tax positions related to prior years|9265|
|reductions for tax positions related to prior years|-17677 ( 17677 )|
|settlements with taxing authorities|-370 ( 370 )|
|balance october 29 2011|$ 9665|
fiscal years 2004 and 2005 irs examination during the fourth quarter of fiscal 2007 , the internal revenue service ( irs ) completed its field examination of the company 2019s fiscal years 2004 and 2005 . on january 2 , 2008 , the irs issued its report for fiscal 2004 and 2005 , which included four proposed adjustments related to these two fiscal years that the company protested to the irs appeals office . two of the unresolved matters were one-time issues that pertain to section 965 of the internal revenue code related to the beneficial tax treatment of dividends paid from foreign owned companies under the american jobs creation act . the other matters pertained to the computation of the research and development ( r&d ) tax credit and certain profits earned from manufacturing activities carried on outside the united states . the company recorded a tax liability for a portion of the proposed r&d tax credit adjustment . these four items had an additional potential tax liability of $ 46 million . the company concluded , based on discussions with its tax advisors , that these items were not likely to result in any additional tax liability . therefore , the company did not record a tax liability for these items . during the second quarter of fiscal 2011 , the company reached settlement with the irs appeals office on three of the four items under protest . the remaining unresolved matter is a one-time issue pertaining to section 965 of the internal revenue code related to the beneficial tax treatment of dividends from foreign owned companies under the american jobs creation act . the company will file a petition with the tax court with respect to this open matter . the potential liability for this adjustment is $ 36.5 million . the company has concluded , based on discussions with its tax advisors , that this item is not likely to result in any additional tax liability . therefore , the company has not recorded any additional tax liability for this issue . fiscal years 2006 and 2007 irs examination during the third quarter of fiscal 2009 , the irs completed its field examination of the company 2019s fiscal years 2006 and 2007 . the irs and the company agreed on the treatment of a number of issues that have been included in an issue resolutions agreement related to the 2006 and 2007 tax returns . however , no agreement was reached on the tax treatment of a number of issues for the fiscal 2006 and fiscal 2007 years , including the same r&d tax credit and foreign manufacturing issues mentioned above related to fiscal 2004 and 2005 , the pricing of intercompany sales ( transfer pricing ) and the deductibility of certain stock option compensation expenses . the company recorded taxes related to a portion of the proposed r&d tax credit adjustment . these four items had an additional potential total tax liability of $ 195 million . the company concluded , based on discussions with its tax advisors that these items were not likely to result in any additional tax liability . therefore , the company did not record any additional tax liability for these items and appealed these proposed adjustments through the normal processes for the resolution of differences between the irs and taxpayers . during the second quarter of fiscal 2011 , the company reached an agreement with the irs appeals office on three of the four protested items , two of which were the same issues settled relating to the 2004 and 2005 fiscal years . transfer pricing remained as the only item under protest with the irs appeals office related to the fiscal analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what is the net change in unrealized tax benefits from 2008 to 2011?
Answer: | -4085.0 |
FINQA2908 | Please answer the given financial question based on the context.
Context: part i item 1 entergy corporation , utility operating companies , and system energy including the continued effectiveness of the clean energy standards/zero emissions credit program ( ces/zec ) , the establishment of certain long-term agreements on acceptable terms with the energy research and development authority of the state of new york in connection with the ces/zec program , and nypsc approval of the transaction on acceptable terms , entergy refueled the fitzpatrick plant in january and february 2017 . in october 2015 , entergy determined that it would close the pilgrim plant . the decision came after management 2019s extensive analysis of the economics and operating life of the plant following the nrc 2019s decision in september 2015 to place the plant in its 201cmultiple/repetitive degraded cornerstone column 201d ( column 4 ) of its reactor oversight process action matrix . the pilgrim plant is expected to cease operations on may 31 , 2019 , after refueling in the spring of 2017 and operating through the end of that fuel cycle . in december 2015 , entergy wholesale commodities closed on the sale of its 583 mw rhode island state energy center ( risec ) , in johnston , rhode island . the base sales price , excluding adjustments , was approximately $ 490 million . entergy wholesale commodities purchased risec for $ 346 million in december 2011 . in december 2016 , entergy announced that it reached an agreement with consumers energy to terminate the ppa for the palisades plant on may 31 , 2018 . pursuant to the ppa termination agreement , consumers energy will pay entergy $ 172 million for the early termination of the ppa . the ppa termination agreement is subject to regulatory approvals . separately , and assuming regulatory approvals are obtained for the ppa termination agreement , entergy intends to shut down the palisades nuclear power plant permanently on october 1 , 2018 , after refueling in the spring of 2017 and operating through the end of that fuel cycle . entergy expects to enter into a new ppa with consumers energy under which the plant would continue to operate through october 1 , 2018 . in january 2017 , entergy announced that it reached a settlement with new york state to shut down indian point 2 by april 30 , 2020 and indian point 3 by april 30 , 2021 , and resolve all new york state-initiated legal challenges to indian point 2019s operating license renewal . as part of the settlement , new york state has agreed to issue indian point 2019s water quality certification and coastal zone management act consistency certification and to withdraw its objection to license renewal before the nrc . new york state also has agreed to issue a water discharge permit , which is required regardless of whether the plant is seeking a renewed nrc license . the shutdowns are conditioned , among other things , upon such actions being taken by new york state . even without opposition , the nrc license renewal process is expected to continue at least into 2018 . with the settlement concerning indian point , entergy now has announced plans for the disposition of all of the entergy wholesale commodities nuclear power plants , including the sales of vermont yankee and fitzpatrick , and the earlier than previously expected shutdowns of pilgrim , palisades , indian point 2 , and indian point 3 . see 201centergy wholesale commodities exit from the merchant power business 201d for further discussion . property nuclear generating stations entergy wholesale commodities includes the ownership of the following nuclear power plants : power plant market service year acquired location capacity - reactor type license expiration .
|power plant|market|in service year|acquired|location|capacity - reactor type|license expiration date|
|pilgrim ( a )|is0-ne|1972|july 1999|plymouth ma|688 mw - boiling water|2032 ( a )|
|fitzpatrick ( b )|nyiso|1975|nov . 2000|oswego ny|838 mw - boiling water|2034 ( b )|
|indian point 3 ( c )|nyiso|1976|nov . 2000|buchanan ny|1041 mw - pressurized water|2015 ( c )|
|indian point 2 ( c )|nyiso|1974|sept . 2001|buchanan ny|1028 mw - pressurized water|2013 ( c )|
|vermont yankee ( d )|is0-ne|1972|july 2002|vernon vt|605 mw - boiling water|2032 ( d )|
|palisades ( e )|miso|1971|apr . 2007|covert mi|811 mw - pressurized water|2031 ( e )|
.
Question: how many years did it take to close the pilgrim plant after after its last refueling?
Answer: | 2.0 |
FINQA2909 | Please answer the given financial question based on the context.
Context: the target awards for the other named executive officers were set as follows : joseph f . domino , ceo - entergy texas ( 50% ( 50 % ) ) ; hugh t . mcdonald , ceo - entergy arkansas ( 50% ( 50 % ) ) ; haley fisackerly , ceo - entergy mississippi ( 40% ( 40 % ) ) ; william m . mohl ( 60% ( 60 % ) ) , ceo - entergy gulf states and entergy louisiana ; charles l . rice , jr . ( 40% ( 40 % ) ) , ceo - entergy new orleans and theodore h . bunting , jr . - principal accounting officer - the subsidiaries ( 60% ( 60 % ) ) . the target awards for the named executive officers ( other than entergy named executive officers ) were set by their respective supervisors ( subject to ultimate approval of entergy 2019s chief executive officer ) who allocated a potential incentive pool established by the personnel committee among various of their direct and indirect reports . in setting the target awards , the supervisor took into account considerations similar to those used by the personnel committee in setting the target awards for entergy 2019s named executive officers . target awards are set based on an executive officer 2019s current position and executive management level within the entergy organization . executive management levels at entergy range from level 1 thorough level 4 . mr . denault and mr . taylor hold positions in level 2 whereas mr . bunting and mr . mohl hold positions in level 3 and mr . domino , mr . fisackerly , mr . mcdonald and mr . rice hold positions in level 4 . accordingly , their respective incentive targets differ one from another based on the external market data developed by the committee 2019s independent compensation consultant and the other factors noted above . in december 2010 , the committee determined the executive incentive plan targets to be used for purposes of establishing annual bonuses for 2011 . the committee 2019s determination of the target levels was made after full board review of management 2019s 2011 financial plan for entergy corporation , upon recommendation of the finance committee , and after the committee 2019s determination that the established targets aligned with entergy corporation 2019s anticipated 2011 financial performance as reflected in the financial plan . the targets established to measure management performance against as reported results were: .
||minimum|target|maximum|
|earnings per share ( $ )|$ 6.10|$ 6.60|$ 7.10|
|operating cash flow ( $ in billions )|$ 2.97|$ 3.35|$ 3.70|
operating cash flow ( $ in billions ) in january 2012 , after reviewing earnings per share and operating cash flow results against the performance objectives in the above table , the committee determined that entergy corporation had exceeded as reported earnings per share target of $ 6.60 by $ 0.95 in 2011 while falling short of the operating cash flow goal of $ 3.35 billion by $ 221 million in 2011 . in accordance with the terms of the annual incentive plan , in january 2012 , the personnel committee certified the 2012 entergy achievement multiplier at 128% ( 128 % ) of target . under the terms of the management effectiveness program , the entergy achievement multiplier is automatically increased by 25 percent for the members of the office of the chief executive if the pre- established underlying performance goals established by the personnel committee are satisfied at the end of the performance period , subject to the personnel committee's discretion to adjust the automatic multiplier downward or eliminate it altogether . in accordance with section 162 ( m ) of the internal revenue code , the multiplier which entergy refers to as the management effectiveness factor is intended to provide the committee a mechanism to take into consideration specific achievement factors relating to the overall performance of entergy corporation . in january 2012 , the committee eliminated the management effectiveness factor with respect to the 2011 incentive awards , reflecting the personnel committee's determination that the entergy achievement multiplier , in and of itself without the management effectiveness factor , was consistent with the performance levels achieved by management . the annual incentive awards for the named executive officers ( other than mr . leonard , mr . denault and mr . taylor ) are awarded from an incentive pool approved by the committee . from this pool , each named executive officer 2019s supervisor determines the annual incentive payment based on the entergy achievement multiplier . the supervisor has the discretion to increase or decrease the multiple used to determine an incentive award based on individual and business unit performance . the incentive awards are subject to the ultimate approval of entergy 2019s chief executive officer. .
Question: what is actual earnings per share reported for 2011?
Answer: | 7.55 |
FINQA2910 | Please answer the given financial question based on the context.
Context: the table below summarizes activity of rsus with performance conditions for the year ended december 31 , shares ( in thousands ) weighted average grant date fair value ( per share ) .
||shares ( in thousands )|weightedaverage grantdate fair value ( per share )|
|non-vested total as of december 31 2016|309|$ 55.94|
|granted|186|63.10|
|vested|-204 ( 204 )|46.10|
|forfeited|-10 ( 10 )|70.50|
|non-vested total as of december 31 2017|281|$ 67.33|
as of december 31 , 2017 , $ 6 million of total unrecognized compensation cost related to the nonvested rsus , with and without performance conditions , is expected to be recognized over the weighted-average remaining life of 1.5 years . the total fair value of rsus , with and without performance conditions , vested was $ 16 million , $ 14 million and $ 12 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . if dividends are paid with respect to shares of the company 2019s common stock before the rsus are distributed , the company credits a liability for the value of the dividends that would have been paid if the rsus were shares of company common stock . when the rsus are distributed , the company pays the participant a lump sum cash payment equal to the value of the dividend equivalents accrued . the company accrued dividend equivalents totaling less than $ 1 million , $ 1 million and $ 1 million to accumulated deficit in the accompanying consolidated statements of changes in stockholders 2019 equity for the years ended december 31 , 2017 , 2016 and 2015 , respectively . employee stock purchase plan the company maintains a nonqualified employee stock purchase plan ( the 201cespp 201d ) through which employee participants may use payroll deductions to acquire company common stock at the lesser of 90% ( 90 % ) of the fair market value of the common stock at either the beginning or the end of a three-month purchase period . on february 15 , 2017 , the board adopted the american water works company , inc . and its designated subsidiaries 2017 nonqualified employee stock purchase plan , which was approved by stockholders on may 12 , 2017 and took effect on august 5 , 2017 . the prior plan was terminated as to new purchases of company stock effective august 31 , 2017 . as of december 31 , 2017 , there were 2.0 million shares of common stock reserved for issuance under the espp . the espp is considered compensatory . during the years ended december 31 , 2017 , 2016 and 2015 , the company issued 93 thousand , 93 thousand and 98 thousand shares , respectively , under the espp. .
Question: based on the weighted average grant date fair value ( per share ) , what was the total granted rsu cost during 2017?
Answer: | 11736600.0 |
FINQA2911 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements six-month offering period . the weighted average fair value per share of espp share purchase options during the year ended december 31 , 2014 , 2013 and 2012 was $ 14.83 , $ 13.42 and $ 13.64 , respectively . at december 31 , 2014 , 3.4 million shares remain reserved for future issuance under the plan . key assumptions used to apply the black-scholes pricing model for shares purchased through the espp for the years ended december 31 , are as follows: .
||2014|2013|2012|
|range of risk-free interest rate|0.06% ( 0.06 % ) 2013 0.11% ( 0.11 % )|0.07% ( 0.07 % ) 2013 0.13% ( 0.13 % )|0.05% ( 0.05 % ) 2013 0.12% ( 0.12 % )|
|weighted average risk-free interest rate|0.09% ( 0.09 % )|0.10% ( 0.10 % )|0.08% ( 0.08 % )|
|expected life of shares|6 months|6 months|6 months|
|range of expected volatility of underlying stock price over the option period|11.29% ( 11.29 % ) 2013 16.59% ( 16.59 % )|12.21% ( 12.21 % ) 2013 13.57% ( 13.57 % )|33.16% ( 33.16 % ) 2013 33.86% ( 33.86 % )|
|weighted average expected volatility of underlying stock price|14.14% ( 14.14 % )|12.88% ( 12.88 % )|33.54% ( 33.54 % )|
|expected annual dividend yield|1.50% ( 1.50 % )|1.50% ( 1.50 % )|1.50% ( 1.50 % )|
16 . equity mandatory convertible preferred stock offering 2014on may 12 , 2014 , the company completed a registered public offering of 6000000 shares of its 5.25% ( 5.25 % ) mandatory convertible preferred stock , series a , par value $ 0.01 per share ( the 201cmandatory convertible preferred stock 201d ) . the net proceeds of the offering were $ 582.9 million after deducting commissions and estimated expenses . the company used the net proceeds from this offering to fund acquisitions , including the acquisition from richland , initially funded by indebtedness incurred under the 2013 credit facility . unless converted earlier , each share of the mandatory convertible preferred stock will automatically convert on may 15 , 2017 , into between 0.9174 and 1.1468 shares of common stock , depending on the applicable market value of the common stock and subject to anti-dilution adjustments . subject to certain restrictions , at any time prior to may 15 , 2017 , holders of the mandatory convertible preferred stock may elect to convert all or a portion of their shares into common stock at the minimum conversion rate then in effect . dividends on shares of mandatory convertible preferred stock are payable on a cumulative basis when , as and if declared by the company 2019s board of directors ( or an authorized committee thereof ) at an annual rate of 5.25% ( 5.25 % ) on the liquidation preference of $ 100.00 per share , on february 15 , may 15 , august 15 and november 15 of each year , commencing on august 15 , 2014 to , and including , may 15 , 2017 . the company may pay dividends in cash or , subject to certain limitations , in shares of common stock or any combination of cash and shares of common stock . the terms of the mandatory convertible preferred stock provide that , unless full cumulative dividends have been paid or set aside for payment on all outstanding mandatory convertible preferred stock for all prior dividend periods , no dividends may be declared or paid on common stock . stock repurchase program 2014in march 2011 , the board of directors approved a stock repurchase program , pursuant to which the company is authorized to purchase up to $ 1.5 billion of common stock ( 201c2011 buyback 201d ) . in september 2013 , the company temporarily suspended repurchases in connection with its acquisition of mipt . under the 2011 buyback , the company is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices in accordance with securities laws and other legal requirements , and subject to market conditions and other factors . to facilitate repurchases , the company .
Question: what is the growth rate in the weighted average fair value per share of espp share purchase options from 2013 to 2014?
Answer: | 0.10507 |
FINQA2912 | Please answer the given financial question based on the context.
Context: 14 . accounting for certain long-lived assets eog reviews its proved oil and gas properties for impairment purposes by comparing the expected undiscounted future cash flows at a depreciation , depletion and amortization group level to the unamortized capitalized cost of the asset . the carrying rr values for assets determined to be impaired were adjusted to estimated fair value using the income approach described in the fair value measurement topic of the asc . in certain instances , eog utilizes accepted offers from third-party purchasers as the basis for determining fair value . during 2017 , proved oil and gas properties with a carrying amount of $ 370 million were written down to their fair value of $ 146 million , resulting in pretax impairment charges of $ 224 million . during 2016 , proved oil and gas properties with a carrying rr amount of $ 643 million were written down to their fair value of $ 527 million , resulting in pretax impairment charges of $ 116 million . impairments in 2017 , 2016 and 2015 included domestic legacy natural gas assets . amortization and impairments of unproved oil and gas property costs , including amortization of capitalized interest , were $ 211 million , $ 291 million and $ 288 million during 2017 , 2016 and 2015 , respectively . 15 . asset retirement obligations the following table presents the reconciliation of the beginning and ending aggregate carrying amounts of short-term and long-term legal obligations associated with the retirement of property , plant and equipment for the years ended december 31 , 2017 and 2016 ( in thousands ) : .
||2017|2016|
|carrying amount at beginning of period|$ 912926|$ 811554|
|liabilities incurred ( 1 )|54764|212739|
|liabilities settled ( 2 )|-61871 ( 61871 )|-94800 ( 94800 )|
|accretion|34708|32306|
|revisions|-9818 ( 9818 )|-38286 ( 38286 )|
|foreign currency translations|16139|-10587 ( 10587 )|
|carrying amount at end of period|$ 946848|$ 912926|
|current portion|$ 19259|$ 18516|
|noncurrent portion|$ 927589|$ 894410|
( 1 ) includes $ 164 million in 2016 related to yates transaction ( see note 17 ) . ( 2 ) includes settlements related to asset sales . the current and noncurrent portions of eog's asset retirement obligations are included in current liabilities - other and other liabilities , respectively , on the consolidated balance sheets. .
Question: considering the years 2016 and 2017 , what is the average current portion?
Answer: | 18887.5 |
FINQA2913 | Please answer the given financial question based on the context.
Context: 2 0 0 8 a n n u a l r e p o r t stock performance graph the following graph sets forth the performance of our series a common , series b common stock , and series c common stock for the period september 18 , 2008 through december 31 , 2008 as compared with the performance of the standard and poor 2019s 500 index and a peer group index which consists of the walt disney company , time warner inc. , cbs corporation class b common stock , viacom , inc . class b common stock , news corporation class a common stock , and scripps network interactive , inc . the graph assumes $ 100 originally invested on september 18 , 2006 and that all subsequent dividends were reinvested in additional shares . september 18 , september 30 , december 31 , 2008 2008 2008 .
||september 18 2008|september 30 2008|december 31 2008|
|disca|$ 100.00|$ 103.19|$ 102.53|
|discb|$ 100.00|$ 105.54|$ 78.53|
|disck|$ 100.00|$ 88.50|$ 83.69|
|s&p 500|$ 100.00|$ 96.54|$ 74.86|
|peer group|$ 100.00|$ 92.67|$ 68.79|
s&p 500 peer group .
Question: how much did the s&p 500 index decline in the fourth quarter?
Answer: | 0.28961 |
FINQA2914 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2014 ( continued ) merchant acquiring business in the united kingdom to the partnership . in addition , hsbc uk entered into a ten-year marketing alliance with the partnership in which hsbc uk will refer customers to the partnership for payment processing services in the united kingdom . on june 23 , 2008 , we entered into a new five year , $ 200 million term loan to fund a portion of the acquisition . we funded the remaining purchase price with excess cash and our existing credit facilities . the term loan bears interest , at our election , at the prime rate or london interbank offered rate plus a margin based on our leverage position . as of july 1 , 2008 , the interest rate on the term loan was 3.605% ( 3.605 % ) . the term loan calls for quarterly principal payments of $ 5 million beginning with the quarter ending august 31 , 2008 and increasing to $ 10 million beginning with the quarter ending august 31 , 2010 and $ 15 million beginning with the quarter ending august 31 , 2011 . the partnership agreement includes provisions pursuant to which hsbc uk may compel us to purchase , at fair value , additional membership units from hsbc uk ( the 201cput option 201d ) . hsbc uk may exercise the put option on the fifth anniversary of the closing of the acquisition and on each anniversary thereafter . by exercising the put option , hsbc uk can require us to purchase , on an annual basis , up to 15% ( 15 % ) of the total membership units . additionally , on the tenth anniversary of closing and each tenth anniversary thereafter , hsbc uk may compel us to purchase all of their membership units at fair value . while not redeemable until june 2013 , we estimate the maximum total redemption amount of the minority interest under the put option would be $ 421.4 million , as of may 31 , 2008 . the purpose of this acquisition was to establish a presence in the united kingdom . the key factors that contributed to the decision to make this acquisition include historical and prospective financial statement analysis and hsbc uk 2019s market share and retail presence in the united kingdom . the purchase price was determined by analyzing the historical and prospective financial statements and applying relevant purchase price multiples . the purchase price totaled $ 441.1 million , consisting of $ 438.6 million cash consideration plus $ 2.5 million of direct out of pocket costs . the acquisition has been recorded using the purchase method of accounting , and , accordingly , the purchase price has been allocated to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition . the following table summarizes the preliminary purchase price allocation: .
||total|
|goodwill|$ 294741|
|customer-related intangible assets|116920|
|contract-based intangible assets|13437|
|trademark|2204|
|property and equipment|26955|
|other current assets|100|
|total assets acquired|454357|
|minority interest in equity of subsidiary ( at historical cost )|-13257 ( 13257 )|
|net assets acquired|$ 441100|
due to the recent timing of the transaction , the allocation of the purchase price is preliminary . all of the goodwill associated with the acquisition is expected to be deductible for tax purposes . the customer-related intangible assets have amortization periods of up to 13 years . the contract-based intangible assets have amortization periods of 7 years . the trademark has an amortization period of 5 years. .
Question: what is the total amount of principle payment paid from 2008 to 2011?
Answer: | 30.0 |
FINQA2915 | Please answer the given financial question based on the context.
Context: vertex pharmaceuticals incorporated notes to consolidated financial statements ( continued ) o . significant revenue arrangements ( continued ) $ 7 million of development and commercialization milestone payments . additionally , kissei agreed to reimburse the company for certain development costs , including a portion of costs for phase 2 trials of vx-702 . research funding ended under this program in june 2000 , and the company has received the full amount of research funding specified under the agreement . kissei has exclusive rights to develop and commercialize vx-702 in japan and certain far east countries and co-exclusive rights in china , taiwan and south korea . the company retains exclusive marketing rights outside the far east and co-exclusive rights in china , taiwan and south korea . in addition , the company will have the right to supply bulk drug material to kissei for sale in its territory and will receive royalties or drug supply payments on future product sales , if any . in 2006 , 2005 and 2004 , approximately $ 6.4 million , $ 7.3 million and $ 3.5 million , respectively , was recognized as revenue under this agreement . the $ 7.3 million of revenue recognized in 2005 includes a $ 2.5 million milestone paid upon kissei 2019s completion of regulatory filings in preparation for phase 1 clinical development of vx-702 in japan . p . employee benefits the company has a 401 ( k ) retirement plan ( the 201cvertex 401 ( k ) plan 201d ) in which substantially all of its permanent employees are eligible to participate . participants may contribute up to 60% ( 60 % ) of their annual compensation to the vertex 401 ( k ) plan , subject to statutory limitations . the company may declare discretionary matching contributions to the vertex 401 ( k ) plan that are payable in the form of vertex common stock . the match is paid in the form of fully vested interests in a vertex common stock fund . employees have the ability to transfer funds from the company stock fund as they choose . the company declared matching contributions to the vertex 401 ( k ) plan as follows ( in thousands ) : q . related party transactions as of december 31 , 2006 , 2005 and 2004 , the company had a loan outstanding to a former officer of the company in the amount of $ 36000 , $ 36000 , $ 97000 , respectively , which was initially advanced in april 2002 . the loan balance is included in other assets on the consolidated balance sheets . in 2001 , the company entered into a four year consulting agreement with a director of the company for the provision of part-time consulting services over a period of four years , at the rate of $ 80000 per year commencing in january 2002 . the consulting agreement terminated in january 2006 . r . contingencies the company has certain contingent liabilities that arise in the ordinary course of its business activities . the company accrues a reserve for contingent liabilities when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. .
||2006|2005|2004|
|discretionary matching contributions during the year ended december 31,|$ 3341|$ 2894|$ 2492|
|shares issued during the year ended december 31,|91|215|239|
|shares issuable as of the year ended december 31,|28|19|57|
discretionary matching contributions during the year ended december 31 , $ 3341 $ 2894 $ 2492 shares issued during the year ended december 31 , 91 215 239 shares issuable as of the year ended december 31 , 28 19 57 .
Question: what is the percent change in share issuable between the end of 2006 and the end of 2005?
Answer: | 0.47368 |
FINQA2916 | Please answer the given financial question based on the context.
Context: part i berths at the end of 2011 . there are approximately 10 ships with an estimated 34000 berths that are expected to be placed in service in the north american cruise market between 2012 and 2016 . europe in europe , cruising represents a smaller but growing sector of the vacation industry . it has experienced a compound annual growth rate in cruise guests of approximately 9.6% ( 9.6 % ) from 2007 to 2011 and we believe this market has significant continued growth poten- tial . we estimate that europe was served by 104 ships with approximately 100000 berths at the beginning of 2007 and by 121 ships with approximately 155000 berths at the end of 2011 . there are approximately 10 ships with an estimated 28000 berths that are expected to be placed in service in the european cruise market between 2012 and 2016 . the following table details the growth in the global , north american and european cruise markets in terms of cruise guests and estimated weighted-average berths over the past five years : global cruise guests ( 1 ) weighted-average supply of berths marketed globally ( 1 ) north american cruise guests ( 2 ) weighted-average supply of berths marketed in north america ( 1 ) european cruise guests ( 3 ) weighted-average supply of berths marketed in europe ( 1 ) .
|year|global cruiseguests ( 1 )|weighted-averagesupplyofberthsmarketedglobally ( 1 )|northamericancruiseguests ( 2 )|weighted-average supply ofberths marketedin northamerica ( 1 )|europeancruiseguests|weighted-averagesupply ofberthsmarketed ineurope ( 1 )|
|2007|16586000|327000|10247000|212000|4080000|105000|
|2008|17184000|347000|10093000|219000|4500000|120000|
|2009|17340000|363000|10198000|222000|5000000|131000|
|2010|18800000|391000|10781000|232000|5540000|143000|
|2011|20227000|412000|11625000|245000|5894000|149000|
( 1 ) source : our estimates of the number of global cruise guests , and the weighted-average supply of berths marketed globally , in north america and europe are based on a combination of data that we obtain from various publicly available cruise industry trade information sources including seatrade insider and cruise line international association . in addition , our estimates incorporate our own statistical analysis utilizing the same publicly available cruise industry data as a base . ( 2 ) source : cruise line international association based on cruise guests carried for at least two consecutive nights for years 2007 through 2010 . year 2011 amounts represent our estimates ( see number 1 above ) . ( 3 ) source : european cruise council for years 2007 through 2010 . year 2011 amounts represent our estimates ( see number 1 above ) . other markets in addition to expected industry growth in north america and europe as discussed above , we expect the asia/pacific region to demonstrate an even higher growth rate in the near term , although it will continue to represent a relatively small sector compared to north america and europe . we compete with a number of cruise lines ; however , our principal competitors are carnival corporation & plc , which owns , among others , aida cruises , carnival cruise lines , costa cruises , cunard line , holland america line , iberocruceros , p&o cruises and princess cruises ; disney cruise line ; msc cruises ; norwegian cruise line and oceania cruises . cruise lines compete with other vacation alternatives such as land-based resort hotels and sightseeing destinations for consum- ers 2019 leisure time . demand for such activities is influ- enced by political and general economic conditions . companies within the vacation market are dependent on consumer discretionary spending . operating strategies our principal operating strategies are to : and employees and protect the environment in which our vessels and organization operate , to better serve our global guest base and grow our business , order to enhance our revenues while continuing to expand and diversify our guest mix through interna- tional guest sourcing , and ensure adequate cash and liquidity , with the overall goal of maximizing our return on invested capital and long-term shareholder value , our brands throughout the world , revitalization of existing ships and the transfer of key innovations across each brand , while expanding our fleet with the new state-of-the-art cruise ships recently delivered and on order , by deploying them into those markets and itineraries that provide opportunities to optimize returns , while continuing our focus on existing key markets , support ongoing operations and initiatives , and the principal industry distribution channel , while enhancing our consumer outreach programs. .
Question: what is the annual average of berths per ship , from 2012-2016 , that are expected to be placed in service in the north american cruise market?
Answer: | 850.0 |
FINQA2917 | Please answer the given financial question based on the context.
Context: allows us to repurchase shares at times when we may otherwise be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods . subject to applicable regulations , we may elect to amend or cancel this repurchase program or the share repurchase parameters at our discretion . as of december 31 , 2018 , we have repurchased an aggregate of 4510000 shares of common stock under this program . credit facilities and short-term debt we have an unsecured revolving credit facility of $ 2.25 billion that expires in june 2023 . in march 2018 , awcc and its lenders amended and restated the credit agreement with respect to awcc 2019s revolving credit facility to increase the maximum commitments under the facility from $ 1.75 billion to $ 2.25 billion , and to extend the expiration date of the facility from june 2020 to march 2023 . all other terms , conditions and covenants with respect to the existing facility remained unchanged . subject to satisfying certain conditions , the credit agreement also permits awcc to increase the maximum commitment under the facility by up to an aggregate of $ 500 million , and to request extensions of its expiration date for up to two , one-year periods . interest rates on advances under the facility are based on a credit spread to the libor rate or base rate in accordance with moody investors service 2019s and standard & poor 2019s financial services 2019 then applicable credit rating on awcc 2019s senior unsecured , non-credit enhanced debt . the facility is used principally to support awcc 2019s commercial paper program and to provide up to $ 150 million in letters of credit . indebtedness under the facility is considered 201cdebt 201d for purposes of a support agreement between the company and awcc , which serves as a functional equivalent of a guarantee by the company of awcc 2019s payment obligations under the credit facility . awcc also has an outstanding commercial paper program that is backed by the revolving credit facility , the maximum aggregate outstanding amount of which was increased in march 2018 , from $ 1.60 billion to $ 2.10 billion . the following table provides the aggregate credit facility commitments , letter of credit sub-limit under the revolving credit facility and commercial paper limit , as well as the available capacity for each as of december 31 , 2018 and 2017 : credit facility commitment available credit facility capacity letter of credit sublimit available letter of credit capacity commercial paper limit available commercial capacity ( in millions ) december 31 , 2018 . . . . . . . . $ 2262 $ 2177 $ 150 $ 69 $ 2100 $ 1146 december 31 , 2017 . . . . . . . . 1762 1673 150 66 1600 695 the weighted average interest rate on awcc short-term borrowings for the years ended december 31 , 2018 and 2017 was approximately 2.28% ( 2.28 % ) and 1.24% ( 1.24 % ) , respectively . capital structure the following table provides the percentage of our capitalization represented by the components of our capital structure as of december 31: .
||2018|2017|2016|
|total common shareholders' equity|40.4% ( 40.4 % )|41.0% ( 41.0 % )|42.1% ( 42.1 % )|
|long-term debt and redeemable preferred stock at redemption value|52.4% ( 52.4 % )|49.6% ( 49.6 % )|46.4% ( 46.4 % )|
|short-term debt and current portion of long-term debt|7.2% ( 7.2 % )|9.4% ( 9.4 % )|11.5% ( 11.5 % )|
|total|100% ( 100 % )|100% ( 100 % )|100% ( 100 % )|
.
Question: for the awcc commercial paper program that is backed by the revolving credit facility , what was the change in billions of the maximum aggregate outstanding amount from march 2018 , to december 2018?
Answer: | 0.5 |
FINQA2918 | Please answer the given financial question based on the context.
Context: tax benefits recognized for stock-based compensation during the years ended december 31 , 2011 , 2010 and 2009 , were $ 16 million , $ 6 million and $ 5 million , respectively . the amount of northrop grumman shares issued before the spin-off to satisfy stock-based compensation awards are recorded by northrop grumman and , accordingly , are not reflected in hii 2019s consolidated financial statements . the company realized tax benefits during the year ended december 31 , 2011 , of $ 2 million from the exercise of stock options and $ 10 million from the issuance of stock in settlement of rpsrs and rsrs . unrecognized compensation expense at december 31 , 2011 there was $ 1 million of unrecognized compensation expense related to unvested stock option awards , which will be recognized over a weighted average period of 1.1 years . in addition , at december 31 , 2011 , there was $ 19 million of unrecognized compensation expense associated with the 2011 rsrs , which will be recognized over a period of 2.2 years ; $ 10 million of unrecognized compensation expense associated with the rpsrs converted as part of the spin-off , which will be recognized over a weighted average period of one year ; and $ 18 million of unrecognized compensation expense associated with the 2011 rpsrs which will be recognized over a period of 2.0 years . stock options the compensation expense for the outstanding converted stock options was determined at the time of grant by northrop grumman . there were no additional options granted during the year ended december 31 , 2011 . the fair value of the stock option awards is expensed on a straight-line basis over the vesting period of the options . the fair value of each of the stock option award was estimated on the date of grant using a black-scholes option pricing model based on the following assumptions : dividend yield 2014the dividend yield was based on northrop grumman 2019s historical dividend yield level . volatility 2014expected volatility was based on the average of the implied volatility from traded options and the historical volatility of northrop grumman 2019s stock . risk-free interest rate 2014the risk-free rate for periods within the contractual life of the stock option award was based on the yield curve of a zero-coupon u.s . treasury bond on the date the award was granted with a maturity equal to the expected term of the award . expected term 2014the expected term of awards granted was derived from historical experience and represents the period of time that awards granted are expected to be outstanding . a stratification of expected terms based on employee populations ( executive and non-executive ) was considered in the analysis . the following significant weighted-average assumptions were used to value stock options granted during the years ended december 31 , 2010 and 2009: .
||2010|2009|
|dividend yield|2.9% ( 2.9 % )|3.6% ( 3.6 % )|
|volatility rate|25% ( 25 % )|25% ( 25 % )|
|risk-free interest rate|2.3% ( 2.3 % )|1.7% ( 1.7 % )|
|expected option life ( years )|6|5 & 6|
the weighted-average grant date fair value of stock options granted during the years ended december 31 , 2010 and 2009 , was $ 11 and $ 7 , per share , respectively. .
Question: what is the growth rate in the weighted-average grant date fair value of stock options from 2009 to 2010?
Answer: | 0.57143 |
FINQA2919 | Please answer the given financial question based on the context.
Context: approximately $ 32 million of federal tax payments were deferred and paid in 2009 as a result of the allied acquisition . the following table summarizes the activity in our gross unrecognized tax benefits for the years ended december 31: .
||2010|2009|2008|
|balance at beginning of year|$ 242.2|$ 611.9|$ 23.2|
|additions due to the allied acquisition|-|13.3|582.9|
|additions based on tax positions related to current year|2.8|3.9|10.6|
|reductions for tax positions related to the current year|-|-|-5.1 ( 5.1 )|
|additions for tax positions of prior years|7.5|5.6|2.0|
|reductions for tax positions of prior years|-7.4 ( 7.4 )|-24.1 ( 24.1 )|-1.3 ( 1.3 )|
|reductions for tax positions resulting from lapse of statute of limitations|-10.4 ( 10.4 )|-0.5 ( 0.5 )|-0.4 ( 0.4 )|
|settlements|-11.9 ( 11.9 )|-367.9 ( 367.9 )|-|
|balance at end of year|$ 222.8|$ 242.2|$ 611.9|
new accounting guidance for business combinations became effective for our 2009 financial statements . this new guidance changed the treatment of acquired uncertain tax liabilities . under previous guidance , changes in acquired uncertain tax liabilities were recognized through goodwill . under the new guidance , subsequent changes in acquired unrecognized tax liabilities are recognized through the income tax provision . as of december 31 , 2010 , $ 206.5 million of the $ 222.8 million of unrecognized tax benefits related to tax positions taken by allied prior to the 2008 acquisition . included in the balance at december 31 , 2010 and 2009 are approximately $ 209.1 million and $ 217.6 million of unrecognized tax benefits ( net of the federal benefit on state issues ) that , if recognized , would affect the effective income tax rate in future periods . during 2010 , the irs concluded its examination of our 2005 and 2007 tax years . the conclusion of this examination reduced our gross unrecognized tax benefits by approximately $ 1.9 million . we also resolved various state matters during 2010 that , in the aggregate , reduced our gross unrecognized tax benefits by approximately $ 10.0 million . during 2009 , we settled our outstanding tax dispute related to allied 2019s risk management companies ( see 2013 risk management companies ) with both the department of justice ( doj ) and the internal revenue service ( irs ) . this settlement reduced our gross unrecognized tax benefits by approximately $ 299.6 million . during 2009 , we also settled with the irs , through an accounting method change , our outstanding tax dispute related to intercompany insurance premiums paid to allied 2019s captive insurance company . this settlement reduced our gross unrecognized tax benefits by approximately $ 62.6 million . in addition to these federal matters , we also resolved various state matters that , in the aggregate , reduced our gross unrecognized tax benefits during 2009 by approximately $ 5.8 million . we recognize interest and penalties as incurred within the provision for income taxes in our consolidated statements of income . related to the unrecognized tax benefits previously noted , we accrued interest of $ 19.2 million during 2010 and , in total as of december 31 , 2010 , have recognized a liability for penalties of $ 1.2 million and interest of $ 99.9 million . during 2009 , we accrued interest of $ 24.5 million and , in total at december 31 , 2009 , had recognized a liability for penalties of $ 1.5 million and interest of $ 92.3 million . during 2008 , we accrued penalties of $ 0.2 million and interest of $ 5.2 million and , in total at december 31 , 2008 , had recognized a liability for penalties of $ 88.1 million and interest of $ 180.0 million . republic services , inc . notes to consolidated financial statements , continued .
Question: what was the percent of the decline in the gross unrecognized tax benefits from 2009 to 2010
Answer: | -0.0801 |
FINQA2920 | Please answer the given financial question based on the context.
Context: 56 / 57 management 2019s discussion and analysis of financial condition and results of operations junior subordinate deferrable interest debentures in june 2005 , we issued $ 100.0 a0million of trust preferred securities , which are reflected on the balance sheet as junior subordinate deferrable interest debentures . the proceeds were used to repay our revolving credit facility . the $ 100.0 a0million of junior subordi- nate deferrable interest debentures have a 30-year term ending july 2035 . they bear interest at a fixed rate of 5.61% ( 5.61 % ) for the first 10 years ending july 2015 . thereafter , the rate will float at three month libor plus 1.25% ( 1.25 % ) . the securities are redeemable at par . restrictive covenants the terms of the 2011 revolving credit facility and certain of our senior unsecured notes include certain restrictions and covenants which may limit , among other things , our ability to pay dividends ( as discussed below ) , make certain types of investments , incur additional indebtedness , incur liens and enter into negative pledge agreements and the disposition of assets , and which require compliance with financial ratios including our minimum tangible net worth , a maximum ratio of total indebtedness to total asset value , a minimum ratio of ebitda to fixed charges and a maximum ratio of unsecured indebtedness to unencumbered asset value . the dividend restriction referred to above provides that we will not during any time when we are in default , make distributions with respect to common stock or other equity interests , except to enable us to continue to qualify as a reit for federal income tax purposes . as of december a031 , 2011 and 2010 , we were in compli- ance with all such covenants . market rate risk we are exposed to changes in interest rates primarily from our floating rate borrowing arrangements . we use interest rate deriv- ative instruments to manage exposure to interest rate changes . a a0hypothetical 100 a0basis point increase in interest rates along the entire interest rate curve for 2011 and 2010 , would increase our annual interest cost by approximately $ 12.3 a0million and $ 11.0 a0mil- lion and would increase our share of joint venture annual interest cost by approximately $ 4.8 a0million and $ 6.7 a0million , respectively . we recognize all derivatives on the balance sheet at fair value . derivatives that are not hedges must be adjusted to fair value through income . if a derivative is a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earnings , or recognized in other comprehensive income until the hedged item is recognized in earnings . the ineffective portion of a derivative 2019s change in fair value is recognized immediately in earnings . approximately $ 4.8 a0billion of our long- term debt bore interest a0at fixed rates , and therefore the fair value of these instru- ments is affected by changes in the market interest rates . the interest rate on our variable rate debt and joint venture debt as of december a031 , 2011 ranged from libor plus 150 a0basis points to libor plus 350 a0basis points . contractual obligations combined aggregate principal maturities of mortgages and other loans payable , our 2011 revolving credit facility , senior unsecured notes ( net of discount ) , trust preferred securities , our share of joint venture debt , including as- of-right extension options , estimated interest expense ( based on weighted average interest rates for the quarter ) , and our obligations under our capital lease and ground leases , as of december a031 , 2011 are as follows ( in thousands ) : .
||2012|2013|2014|2015|2016|thereafter|total|
|property mortgages|$ 52443|$ 568649|$ 647776|$ 270382|$ 556400|$ 2278190|$ 4373840|
|revolving credit facility|2014|2014|2014|2014|350000|2014|350000|
|trust preferred securities|2014|2014|2014|2014|2014|100000|100000|
|senior unsecured notes|119423|2014|98578|657|274804|777194|1270656|
|capital lease|1555|1555|1555|1592|1707|42351|50315|
|ground leases|33429|33429|33429|33429|33533|615450|782699|
|estimated interest expense|312672|309280|269286|244709|212328|470359|1818634|
|joint venture debt|176457|93683|123983|102476|527814|800102|1824515|
|total|$ 695979|$ 1006596|$ 1174607|$ 653245|$ 1956586|$ 5083646|$ 10570659|
.
Question: what was the change in ground leases between 2012 and 2013 in millions?
Answer: | 0.0 |
FINQA2921 | Please answer the given financial question based on the context.
Context: part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our ordinary shares have been publicly traded since november 17 , 2011 when our ordinary shares were listed and began trading on the new york stock exchange ( 201cnyse 201d ) under the symbol 201cdlph . 201d on december 4 , 2017 , following the spin-off of delphi technologies , the company changed its name to aptiv plc and its nyse symbol to 201captv . 201d as of january 25 , 2019 , there were 2 shareholders of record of our ordinary shares . the following graph reflects the comparative changes in the value from december 31 , 2013 through december 31 , 2018 , assuming an initial investment of $ 100 and the reinvestment of dividends , if any in ( 1 ) our ordinary shares , ( 2 ) the s&p 500 index and ( 3 ) the automotive peer group . historical share prices of our ordinary shares have been adjusted to reflect the separation . historical performance may not be indicative of future shareholder returns . stock performance graph * $ 100 invested on december 31 , 2013 in our stock or in the relevant index , including reinvestment of dividends . fiscal year ended december 31 , 2018 . ( 1 ) aptiv plc , adjusted for the distribution of delphi technologies on december 4 , 2017 ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive peer group 2013 adient plc , american axle & manufacturing holdings inc , aptiv plc , borgwarner inc , cooper tire & rubber co , cooper- standard holdings inc , dana inc , dorman products inc , ford motor co , garrett motion inc. , general motors co , gentex corp , gentherm inc , genuine parts co , goodyear tire & rubber co , lear corp , lkq corp , meritor inc , motorcar parts of america inc , standard motor products inc , stoneridge inc , superior industries international inc , tenneco inc , tesla inc , tower international inc , visteon corp , wabco holdings inc company index december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
|company index|december 31 2013|december 31 2014|december 31 2015|december 31 2016|december 31 2017|december 31 2018|
|aptiv plc ( 1 )|$ 100.00|$ 122.75|$ 146.49|$ 117.11|$ 178.46|$ 130.80|
|s&p 500 ( 2 )|100.00|113.69|115.26|129.05|157.22|150.33|
|automotive peer group ( 3 )|100.00|107.96|108.05|107.72|134.04|106.89|
.
Question: what is the difference in percentage performance for aptiv plc versus the automotive peer group for the five year period ending december 31 2018?
Answer: | 0.2391 |
FINQA2922 | Please answer the given financial question based on the context.
Context: jpmorgan chase & co . / 2008 annual report 211 jpmorgan chase is subject to ongoing tax examinations by the tax authorities of the various jurisdictions in which it operates , including u.s . federal and state and non-u.s . jurisdictions . the firm 2019s consoli- dated federal income tax returns are presently under examination by the internal revenue service ( 201cirs 201d ) for the years 2003 , 2004 and 2005 . the consolidated federal income tax returns of bank one corporation , which merged with and into jpmorgan chase on july 1 , 2004 , are under examination for the years 2000 through 2003 , and for the period january 1 , 2004 , through july 1 , 2004 . the consolidat- ed federal income tax returns of bear stearns for the years ended november 30 , 2003 , 2004 and 2005 , are also under examination . all three examinations are expected to conclude in 2009 . the irs audits of the consolidated federal income tax returns of jpmorgan chase for the years 2006 and 2007 , and for bear stearns for the years ended november 30 , 2006 and 2007 , are expected to commence in 2009 . administrative appeals are pending with the irs relating to prior examination periods . for 2002 and prior years , refund claims relating to income and credit adjustments , and to tax attribute carry- backs , for jpmorgan chase and its predecessor entities , including bank one , have been filed . amended returns to reflect refund claims primarily attributable to net operating losses and tax credit carry- backs will be filed for the final bear stearns federal consolidated tax return for the period december 1 , 2007 , through may 30 , 2008 , and for prior years . the following table presents the u.s . and non-u.s . components of income from continuing operations before income tax expense ( benefit ) . .
|year ended december 31 ( in millions )|2008|2007|2006|
|u.s .|$ -2094 ( 2094 )|$ 13720|$ 12934|
|non-u.s. ( a )|4867|9085|6952|
|income from continuing operationsbefore income taxexpense ( benefit )|$ 2773|$ 22805|$ 19886|
non-u.s. ( a ) 4867 9085 6952 income from continuing operations before income tax expense ( benefit ) $ 2773 $ 22805 $ 19886 ( a ) for purposes of this table , non-u.s . income is defined as income generated from operations located outside the u.s . note 29 2013 restrictions on cash and intercom- pany funds transfers the business of jpmorgan chase bank , national association ( 201cjpmorgan chase bank , n.a . 201d ) is subject to examination and regula- tion by the office of the comptroller of the currency ( 201cocc 201d ) . the bank is a member of the u.s . federal reserve system , and its deposits are insured by the fdic as discussed in note 20 on page 202 of this annual report . the board of governors of the federal reserve system ( the 201cfederal reserve 201d ) requires depository institutions to maintain cash reserves with a federal reserve bank . the average amount of reserve bal- ances deposited by the firm 2019s bank subsidiaries with various federal reserve banks was approximately $ 1.6 billion in 2008 and 2007 . restrictions imposed by u.s . federal law prohibit jpmorgan chase and certain of its affiliates from borrowing from banking subsidiaries unless the loans are secured in specified amounts . such secured loans to the firm or to other affiliates are generally limited to 10% ( 10 % ) of the banking subsidiary 2019s total capital , as determined by the risk- based capital guidelines ; the aggregate amount of all such loans is limited to 20% ( 20 % ) of the banking subsidiary 2019s total capital . the principal sources of jpmorgan chase 2019s income ( on a parent com- pany 2013only basis ) are dividends and interest from jpmorgan chase bank , n.a. , and the other banking and nonbanking subsidiaries of jpmorgan chase . in addition to dividend restrictions set forth in statutes and regulations , the federal reserve , the occ and the fdic have authority under the financial institutions supervisory act to pro- hibit or to limit the payment of dividends by the banking organizations they supervise , including jpmorgan chase and its subsidiaries that are banks or bank holding companies , if , in the banking regulator 2019s opin- ion , payment of a dividend would constitute an unsafe or unsound practice in light of the financial condition of the banking organization . at january 1 , 2009 and 2008 , jpmorgan chase 2019s banking sub- sidiaries could pay , in the aggregate , $ 17.0 billion and $ 16.2 billion , respectively , in dividends to their respective bank holding companies without the prior approval of their relevant banking regulators . the capacity to pay dividends in 2009 will be supplemented by the bank- ing subsidiaries 2019 earnings during the year . in compliance with rules and regulations established by u.s . and non-u.s . regulators , as of december 31 , 2008 and 2007 , cash in the amount of $ 20.8 billion and $ 16.0 billion , respectively , and securities with a fair value of $ 12.1 billion and $ 3.4 billion , respectively , were segregated in special bank accounts for the benefit of securities and futures brokerage customers. .
Question: in 2007 what was the percent of the income from continuing operations that was from the us
Answer: | 0.60162 |
FINQA2923 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries notes to financial statements ferc audit report , system energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis , resulting in a zero net balance for the regulatory asset at the end of the lease term . the amount was a net regulatory asset ( liability ) of ( $ 2.0 ) million and $ 60.6 million as of december 31 , 2011 and 2010 , respectively . as of december 31 , 2011 , system energy had future minimum lease payments ( reflecting an implicit rate of 5.13% ( 5.13 % ) ) , which are recorded as long-term debt as follows : amount ( in thousands ) .
||amount ( in thousands )|
|2012|$ 49959|
|2013|50546|
|2014|51637|
|2015|52253|
|2016|-|
|years thereafter|-|
|total|204395|
|less : amount representing interest|25611|
|present value of net minimum lease payments|$ 178784|
.
Question: what portion of the future minimum lease payments is expected to be paid within the next 12 months?
Answer: | 0.24442 |
FINQA2924 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries notes to consolidated financial statements 2030 purchased interests represent senior and subordinated interests , purchased in connection with secondary market-making activities , in securitization entities in which the firm also holds retained interests . 2030 substantially all of the total outstanding principal amount and total retained interests relate to securitizations during 2014 and thereafter as of december 2018 , and relate to securitizations during 2012 and thereafter as of december 2017 . 2030 the fair value of retained interests was $ 3.28 billion as of december 2018 and $ 2.13 billion as of december 2017 . in addition to the interests in the table above , the firm had other continuing involvement in the form of derivative transactions and commitments with certain nonconsolidated vies . the carrying value of these derivatives and commitments was a net asset of $ 75 million as of december 2018 and $ 86 million as of december 2017 , and the notional amount of these derivatives and commitments was $ 1.09 billion as of december 2018 and $ 1.26 billion as of december 2017 . the notional amounts of these derivatives and commitments are included in maximum exposure to loss in the nonconsolidated vie table in note 12 . the table below presents information about the weighted average key economic assumptions used in measuring the fair value of mortgage-backed retained interests. .
|$ in millions|as of december 2018|as of december 2017|
|fair value of retained interests|$ 3151|$ 2071|
|weighted average life ( years )|7.2|6.0|
|constant prepayment rate|11.9% ( 11.9 % )|9.4% ( 9.4 % )|
|impact of 10% ( 10 % ) adverse change|$ -27 ( 27 )|$ -19 ( 19 )|
|impact of 20% ( 20 % ) adverse change|$ -53 ( 53 )|$ -35 ( 35 )|
|discount rate|4.7% ( 4.7 % )|4.2% ( 4.2 % )|
|impact of 10% ( 10 % ) adverse change|$ -75 ( 75 )|$ -35 ( 35 )|
|impact of 20% ( 20 % ) adverse change|$ -147 ( 147 )|$ -70 ( 70 )|
in the table above : 2030 amounts do not reflect the benefit of other financial instruments that are held to mitigate risks inherent in these retained interests . 2030 changes in fair value based on an adverse variation in assumptions generally cannot be extrapolated because the relationship of the change in assumptions to the change in fair value is not usually linear . 2030 the impact of a change in a particular assumption is calculated independently of changes in any other assumption . in practice , simultaneous changes in assumptions might magnify or counteract the sensitivities disclosed above . 2030 the constant prepayment rate is included only for positions for which it is a key assumption in the determination of fair value . 2030 the discount rate for retained interests that relate to u.s . government agency-issued collateralized mortgage obligations does not include any credit loss . expected credit loss assumptions are reflected in the discount rate for the remainder of retained interests . the firm has other retained interests not reflected in the table above with a fair value of $ 133 million and a weighted average life of 4.2 years as of december 2018 , and a fair value of $ 56 million and a weighted average life of 4.5 years as of december 2017 . due to the nature and fair value of certain of these retained interests , the weighted average assumptions for constant prepayment and discount rates and the related sensitivity to adverse changes are not meaningful as of both december 2018 and december 2017 . the firm 2019s maximum exposure to adverse changes in the value of these interests is the carrying value of $ 133 million as of december 2018 and $ 56 million as of december 2017 . note 12 . variable interest entities a variable interest in a vie is an investment ( e.g. , debt or equity ) or other interest ( e.g. , derivatives or loans and lending commitments ) that will absorb portions of the vie 2019s expected losses and/or receive portions of the vie 2019s expected residual returns . the firm 2019s variable interests in vies include senior and subordinated debt ; loans and lending commitments ; limited and general partnership interests ; preferred and common equity ; derivatives that may include foreign currency , equity and/or credit risk ; guarantees ; and certain of the fees the firm receives from investment funds . certain interest rate , foreign currency and credit derivatives the firm enters into with vies are not variable interests because they create , rather than absorb , risk . vies generally finance the purchase of assets by issuing debt and equity securities that are either collateralized by or indexed to the assets held by the vie . the debt and equity securities issued by a vie may include tranches of varying levels of subordination . the firm 2019s involvement with vies includes securitization of financial assets , as described in note 11 , and investments in and loans to other types of vies , as described below . see note 11 for further information about securitization activities , including the definition of beneficial interests . see note 3 for the firm 2019s consolidation policies , including the definition of a vie . goldman sachs 2018 form 10-k 149 .
Question: what was the change in fair value of retained interests in billions as of december 2018 and december 2017?
Answer: | 1.15 |
FINQA2925 | Please answer the given financial question based on the context.
Context: performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's peer group and the s&p 500 index . the graph assumes the investment of $ 100 as of december 31 , 2012 , in pmi common stock ( at prices quoted on the new york stock exchange ) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis . date pmi pmi peer group ( 1 ) s&p 500 index .
|date|pmi|pmi peer group ( 1 )|s&p 500 index|
|december 31 2012|$ 100.00|$ 100.00|$ 100.00|
|december 31 2013|$ 108.50|$ 122.80|$ 132.40|
|december 31 2014|$ 106.20|$ 132.50|$ 150.50|
|december 31 2015|$ 120.40|$ 143.50|$ 152.60|
|december 31 2016|$ 130.80|$ 145.60|$ 170.80|
|december 31 2017|$ 156.80|$ 172.70|$ 208.10|
( 1 ) the pmi peer group presented in this graph is the same as that used in the prior year , except reynolds american inc . was removed following the completion of its acquisition by british american tobacco p.l.c . on july 25 , 2017 . the pmi peer group was established based on a review of four characteristics : global presence ; a focus on consumer products ; and net revenues and a market capitalization of a similar size to those of pmi . the review also considered the primary international tobacco companies . as a result of this review , the following companies constitute the pmi peer group : altria group , inc. , anheuser-busch inbev sa/nv , british american tobacco p.l.c. , the coca-cola company , colgate-palmolive co. , diageo plc , heineken n.v. , imperial brands plc , japan tobacco inc. , johnson & johnson , kimberly-clark corporation , the kraft-heinz company , mcdonald's corp. , mondel z international , inc. , nestl e9 s.a. , pepsico , inc. , the procter & gamble company , roche holding ag , and unilever nv and plc . note : figures are rounded to the nearest $ 0.10. .
Question: what is the growth rate in pmi's share price from 2014 to 2015?
Answer: | 0.13371 |
FINQA2926 | Please answer the given financial question based on the context.
Context: part i item 1 . business our company founded in 1886 , american water works company , inc . ( the 201ccompany 201d or 201camerican water 201d ) is a holding company incorporated in delaware . american water is the largest and most geographically diverse investor owned publicly-traded united states water and wastewater utility company , as measured by both operating revenues and population served . we employ approximately 6700 professionals who provide drinking water , wastewater and other related services to an estimated 15 million people in 47 states , the district of columbia and ontario , canada . operating segments we conduct our business primarily through our regulated businesses segment . we also operate several market-based businesses that provide a broad range of related and complementary water and wastewater services , which include four operating segments that individually do not meet the criteria of a reportable segment in accordance with generally accepted accounting principles in the united states ( 201cgaap 201d ) . these four non- reportable operating segments are collectively presented as our 201cmarket-based businesses , 201d which is consistent with how management assesses the results of these businesses . additional information can be found in item 7 2014management 2019s discussion and analysis of financial condition and results of operations and note 19 2014segment information in the notes to consolidated financial statements . regulated businesses our primary business involves the ownership of subsidiaries that provide water and wastewater utility services to residential , commercial , industrial and other customers , including sale for resale and public authority customers . our subsidiaries that provide these services operate in approximately 1600 communities in 16 states in the united states and are generally subject to regulation by certain state commissions or other entities engaged in utility regulation , referred to as public utility commissions or ( 201cpucs 201d ) . the federal and state governments also regulate environmental , health and safety , and water quality matters . we report the results of the services provided by our utilities in our regulated businesses segment . our regulated businesses segment 2019s operating revenues were $ 2743 million for 2015 , $ 2674 million for 2014 and $ 2594 million for 2013 , accounting for 86.8% ( 86.8 % ) , 88.8% ( 88.8 % ) and 90.1% ( 90.1 % ) , respectively , of total operating revenues for the same periods . the following table summarizes our regulated businesses 2019 operating revenues , number of customers and estimated population served by state , each as of december 31 , 2015 : operating revenues ( in millions ) % ( % ) of total number of customers % ( % ) of total estimated population served ( in millions ) % ( % ) of total .
|new jersey|operatingrevenues ( in millions ) $ 704|% ( % ) of total 25.7% ( 25.7 % )|number ofcustomers 660580|% ( % ) of total 20.3% ( 20.3 % )|estimatedpopulationserved ( in millions ) 2.7|% ( % ) of total 22.3% ( 22.3 % )|
|pennsylvania|614|22.4% ( 22.4 % )|672407|20.7% ( 20.7 % )|2.3|19.0% ( 19.0 % )|
|illinois ( a )|270|9.8% ( 9.8 % )|313058|9.6% ( 9.6 % )|1.3|10.7% ( 10.7 % )|
|missouri|269|9.8% ( 9.8 % )|473245|14.5% ( 14.5 % )|1.5|12.4% ( 12.4 % )|
|indiana|206|7.5% ( 7.5 % )|295994|9.1% ( 9.1 % )|1.3|10.7% ( 10.7 % )|
|california|198|7.2% ( 7.2 % )|174942|5.4% ( 5.4 % )|0.6|5.0% ( 5.0 % )|
|west virginia ( b )|129|4.7% ( 4.7 % )|169037|5.2% ( 5.2 % )|0.6|5.0% ( 5.0 % )|
|subtotal ( top seven states )|2390|87.1% ( 87.1 % )|2759263|84.8% ( 84.8 % )|10.3|85.1% ( 85.1 % )|
|other ( c )|353|12.9% ( 12.9 % )|493428|15.2% ( 15.2 % )|1.8|14.9% ( 14.9 % )|
|total regulated businesses|$ 2743|100.0% ( 100.0 % )|3252691|100.0% ( 100.0 % )|12.1|100.0% ( 100.0 % )|
( a ) includes illinois-american water company and american lake water company . ( b ) includes west virginia-american water company and its subsidiary bluefield valley water works company . ( c ) includes data from our utilities in the following states : georgia , hawaii , iowa , kentucky , maryland , michigan , new york , tennessee and virginia. .
Question: what is the current customer penetration in the missouri market area?
Answer: | 0.3155 |
FINQA2927 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis scenario analyses . we conduct various scenario analyses including as part of the comprehensive capital analysis and review ( ccar ) and dodd-frank act stress tests ( dfast ) , as well as our resolution and recovery planning . see 201cequity capital management and regulatory capital 2014 equity capital management 201d below for further information . these scenarios cover short-term and long- term time horizons using various macroeconomic and firm- specific assumptions , based on a range of economic scenarios . we use these analyses to assist us in developing our longer-term balance sheet management strategy , including the level and composition of assets , funding and equity capital . additionally , these analyses help us develop approaches for maintaining appropriate funding , liquidity and capital across a variety of situations , including a severely stressed environment . balance sheet allocation in addition to preparing our consolidated statements of financial condition in accordance with u.s . gaap , we prepare a balance sheet that generally allocates assets to our businesses , which is a non-gaap presentation and may not be comparable to similar non-gaap presentations used by other companies . we believe that presenting our assets on this basis is meaningful because it is consistent with the way management views and manages risks associated with the firm 2019s assets and better enables investors to assess the liquidity of the firm 2019s assets . the table below presents our balance sheet allocation. .
|$ in millions|as of december 2015|as of december 2014|
|global core liquid assets ( gcla )|$ 199120|$ 182947|
|other cash|9180|7805|
|gcla and cash|208300|190752|
|secured client financing|221325|210641|
|inventory|208836|230667|
|secured financing agreements|63495|74767|
|receivables|39976|47317|
|institutional client services|312307|352751|
|public equity|3991|4041|
|private equity|16985|17979|
|debt1|23216|24768|
|loans receivable2|45407|28938|
|other|4646|3771|
|investing & lending|94245|79497|
|total inventory and related assets|406552|432248|
|other assets|25218|22201|
|total assets|$ 861395|$ 855842|
1 . includes $ 17.29 billion and $ 18.24 billion as of december 2015 and december 2014 , respectively , of direct loans primarily extended to corporate and private wealth management clients that are accounted for at fair value . 2 . see note 9 to the consolidated financial statements for further information about loans receivable . the following is a description of the captions in the table above : 2030 global core liquid assets and cash . we maintain liquidity to meet a broad range of potential cash outflows and collateral needs in a stressed environment . see 201cliquidity risk management 201d below for details on the composition and sizing of our 201cglobal core liquid assets 201d ( gcla ) . in addition to our gcla , we maintain other operating cash balances , primarily for use in specific currencies , entities , or jurisdictions where we do not have immediate access to parent company liquidity . 2030 secured client financing . we provide collateralized financing for client positions , including margin loans secured by client collateral , securities borrowed , and resale agreements primarily collateralized by government obligations . as a result of client activities , we are required to segregate cash and securities to satisfy regulatory requirements . our secured client financing arrangements , which are generally short-term , are accounted for at fair value or at amounts that approximate fair value , and include daily margin requirements to mitigate counterparty credit risk . 2030 institutional client services . in institutional client services , we maintain inventory positions to facilitate market making in fixed income , equity , currency and commodity products . additionally , as part of market- making activities , we enter into resale or securities borrowing arrangements to obtain securities which we can use to cover transactions in which we or our clients have sold securities that have not yet been purchased . the receivables in institutional client services primarily relate to securities transactions . 2030 investing & lending . in investing & lending , we make investments and originate loans to provide financing to clients . these investments and loans are typically longer- term in nature . we make investments , directly and indirectly through funds and separate accounts that we manage , in debt securities , loans , public and private equity securities , real estate entities and other investments . 2030 other assets . other assets are generally less liquid , non- financial assets , including property , leasehold improvements and equipment , goodwill and identifiable intangible assets , income tax-related receivables , equity- method investments , assets classified as held for sale and miscellaneous receivables . 68 goldman sachs 2015 form 10-k .
Question: how is cash flow from operating activities affected by the change in inventory from 2014 to 2015?
Answer: | 21831.0 |
FINQA2928 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis 84 jpmorgan chase & co . / 2008 annual report tier 1 capital was $ 136.1 billion at december 31 , 2008 , compared with $ 88.7 billion at december 31 , 2007 , an increase of $ 47.4 billion . the following table presents the changes in tier 1 capital for the year ended december 31 , 2008. .
|tier 1capital december 31 2007 ( in millions )|$ 88746|
|net income|5605|
|issuance of cumulative perpetual preferred stock tou.s . treasury|23750|
|warrant issued to u.s . treasury in connection withissuance of preferred stock|1250|
|issuance of noncumulative perpetual preferred stock|7800|
|issuance of preferred stock 2013 conversion of bear stearnspreferred stock|352|
|net issuance of common stock|11485|
|net issuance of common stock under employee stock-basedcompensation plans|3317|
|net issuance of common stock in connection with thebear stearns merger|1198|
|dividends declared|-6307 ( 6307 )|
|net issuance of qualifying trust preferred capital debtsecurities|2619|
|dva on structured debt and derivative liabilities|-1475 ( 1475 )|
|goodwill and other nonqualifying intangibles ( net ofdeferred tax liabilities )|-1357 ( 1357 )|
|other|-879 ( 879 )|
|increase in tier 1 capital|47358|
|tier 1 capital december 31 2008|$ 136104|
additional information regarding the firm 2019s capital ratios and the federal regulatory capital standards to which it is subject , and the capital ratios for the firm 2019s significant banking subsidiaries at december 31 , 2008 and 2007 , are presented in note 30 on pages 212 2013213 of this annual report . capital purchase program pursuant to the capital purchase program , on october 28 , 2008 , the firm issued to the u.s . treasury , for total proceeds of $ 25.0 billion , ( i ) 2.5 million shares of series k preferred stock , and ( ii ) a warrant to pur- chase up to 88401697 shares of the firm 2019s common stock , at an exer- cise price of $ 42.42 per share , subject to certain antidilution and other adjustments . the series k preferred stock qualifies as tier 1 capital . the series k preferred stock bears cumulative dividends at a rate of 5% ( 5 % ) per year for the first five years and 9% ( 9 % ) per year thereafter . the series k preferred stock ranks equally with the firm 2019s existing 6.15% ( 6.15 % ) cumulative preferred stock , series e ; 5.72% ( 5.72 % ) cumulative preferred stock , series f ; 5.49% ( 5.49 % ) cumulative preferred stock , series g ; fixed- to-floating rate noncumulative perpetual preferred stock , series i ; and 8.63% ( 8.63 % ) noncumulative perpetual preferred stock , series j , in terms of dividend payments and upon liquidation of the firm . any accrued and unpaid dividends on the series k preferred stock must be fully paid before dividends may be declared or paid on stock ranking junior or equally with the series k preferred stock . pursuant to the capital purchase program , until october 28 , 2011 , the u.s . treasury 2019s consent is required for any increase in dividends on the firm 2019s common stock from the amount of the last quarterly stock div- idend declared by the firm prior to october 14 , 2008 , unless the series k preferred stock is redeemed in whole before then , or the u.s . treasury has transferred all of the series k preferred stock it owns to third parties . the firm may not repurchase or redeem any common stock or other equity securities of the firm , or any trust preferred securities issued by the firm or any of its affiliates , without the prior consent of the u.s . treasury ( other than ( i ) repurchases of the series k preferred stock and ( ii ) repurchases of junior preferred shares or common stock in connection with any employee benefit plan in the ordinary course of business consistent with past practice ) . basel ii the minimum risk-based capital requirements adopted by the u.s . federal banking agencies follow the capital accord of the basel committee on banking supervision . in 2004 , the basel committee published a revision to the accord ( 201cbasel ii 201d ) . the goal of the new basel ii framework is to provide more risk-sensitive regulatory capital calculations and promote enhanced risk management practices among large , internationally active banking organizations . u.s . bank- ing regulators published a final basel ii rule in december 2007 , which will require jpmorgan chase to implement basel ii at the holding company level , as well as at certain of its key u.s . bank subsidiaries . prior to full implementation of the new basel ii framework , jpmorgan chase will be required to complete a qualification period of four consecutive quarters during which it will need to demonstrate that it meets the requirements of the new rule to the satisfaction of its primary u.s . banking regulators . the u.s . implementation timetable consists of the qualification period , starting any time between april 1 , 2008 , and april 1 , 2010 , followed by a minimum transition period of three years . during the transition period , basel ii risk-based capital requirements cannot fall below certain floors based on current ( 201cbasel l 201d ) regulations . jpmorgan chase expects to be in compliance with all relevant basel ii rules within the estab- lished timelines . in addition , the firm has adopted , and will continue to adopt , based upon various established timelines , basel ii in certain non-u.s . jurisdictions , as required . broker-dealer regulatory capital jpmorgan chase 2019s principal u.s . broker-dealer subsidiaries are j.p . morgan securities inc . ( 201cjpmorgan securities 201d ) and j.p . morgan clearing corp . ( formerly known as bear stearns securities corp. ) . jpmorgan securities and j.p . morgan clearing corp . are each subject to rule 15c3-1 under the securities exchange act of 1934 ( 201cnet capital rule 201d ) . jpmorgan securities and j.p . morgan clearing corp . are also registered as futures commission merchants and subject to rule 1.17 under the commodity futures trading commission ( 201ccftc 201d ) . jpmorgan securities and j.p . morgan clearing corp . have elected to compute their minimum net capital requirements in accordance with the 201calternative net capital requirement 201d of the net capital rule . at december 31 , 2008 , jpmorgan securities 2019 net capital , as defined by the net capital rule , of $ 7.2 billion exceeded the minimum require- ment by $ 6.6 billion . in addition to its net capital requirements , jpmorgan securities is required to hold tentative net capital in excess jpmorgan chase & co . / 2008 annual report84 .
Question: what percentage of the increase in tier 1 capital was due to net income?
Answer: | 0.11835 |
FINQA2929 | Please answer the given financial question based on the context.
Context: affiliated company . the loss recorded on the sale was approximately $ 14 million and is recorded as a loss on sale of assets and asset impairment expenses in the accompanying consolidated statements of operations . in the second quarter of 2002 , the company recorded an impairment charge of approximately $ 40 million , after income taxes , on an equity method investment in a telecommunications company in latin america held by edc . the impairment charge resulted from sustained poor operating performance coupled with recent funding problems at the invested company . during 2001 , the company lost operational control of central electricity supply corporation ( 2018 2018cesco 2019 2019 ) , a distribution company located in the state of orissa , india . cesco is accounted for as a cost method investment . in may 2000 , the company completed the acquisition of 100% ( 100 % ) of tractebel power ltd ( 2018 2018tpl 2019 2019 ) for approximately $ 67 million and assumed liabilities of approximately $ 200 million . tpl owned 46% ( 46 % ) of nigen . the company also acquired an additional 6% ( 6 % ) interest in nigen from minority stockholders during the year ended december 31 , 2000 through the issuance of approximately 99000 common shares of aes stock valued at approximately $ 4.9 million . with the completion of these transactions , the company owns approximately 98% ( 98 % ) of nigen 2019s common stock and began consolidating its financial results beginning may 12 , 2000 . approximately $ 100 million of the purchase price was allocated to excess of costs over net assets acquired and was amortized through january 1 , 2002 at which time the company adopted sfas no . 142 and ceased amortization of goodwill . in august 2000 , a subsidiary of the company acquired a 49% ( 49 % ) interest in songas limited ( 2018 2018songas 2019 2019 ) for approximately $ 40 million . the company acquired an additional 16.79% ( 16.79 % ) of songas for approximately $ 12.5 million , and the company began consolidating this entity in 2002 . songas owns the songo songo gas-to-electricity project in tanzania . in december 2002 , the company signed a sales purchase agreement to sell songas . the sale is expected to close in early 2003 . see note 4 for further discussion of the transaction . the following table presents summarized comparative financial information ( in millions ) for the company 2019s investments in 50% ( 50 % ) or less owned investments accounted for using the equity method. .
|as of and for the years ended december 31,|2002|2001|2000|
|revenues|$ 2832|$ 6147|$ 6241|
|operating income|695|1717|1989|
|net income|229|650|859|
|current assets|1097|3700|2423|
|noncurrent assets|6751|14942|13080|
|current liabilities|1418|3510|3370|
|noncurrent liabilities|3349|8297|5927|
|stockholder's equity|3081|6835|6206|
in 2002 , 2001 and 2000 , the results of operations and the financial position of cemig were negatively impacted by the devaluation of the brazilian real and the impairment charge recorded in 2002 . the brazilian real devalued 32% ( 32 % ) , 19% ( 19 % ) and 8% ( 8 % ) for the years ended december 31 , 2002 , 2001 and 2000 , respectively . the company recorded $ 83 million , $ 210 million , and $ 64 million of pre-tax non-cash foreign currency transaction losses on its investments in brazilian equity method affiliates during 2002 , 2001 and 2000 , respectively. .
Question: what was 2002 return on stockholder's equity for the less than 50% ( 50 % ) owned investments , based on net income?
Answer: | 0.07433 |
FINQA2930 | Please answer the given financial question based on the context.
Context: 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 .
|( 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 % )|
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. .
Question: how is the cash flow statement from financing activities affected by the change in the balance of the long-term debt during 2014 , in millions?
Answer: | 890.0 |
FINQA2931 | Please answer the given financial question based on the context.
Context: table of contents capital deployment program will be subject to market and economic conditions , applicable legal requirements and other relevant factors . our capital deployment program does not obligate us to continue a dividend for any fixed period , and payment of dividends may be suspended at any time at our discretion . stock performance graph the following stock performance graph and related information shall not be deemed 201csoliciting material 201d or 201cfiled 201d with the securities and exchange commission , nor shall such information be incorporated by reference into any future filings under the securities act of 1933 or the exchange act , each as amended , except to the extent that we specifically incorporate it by reference into such filing . the following stock performance graph compares our cumulative total stockholder return on an annual basis on our common stock with the cumulative total return on the standard and poor 2019s 500 stock index and the amex airline index from december 9 , 2013 ( the first trading day of aag common stock ) through december 31 , 2015 . the comparison assumes $ 100 was invested on december 9 , 2013 in aag common stock and in each of the foregoing indices and assumes reinvestment of dividends . the stock performance shown on the graph below represents historical stock performance and is not necessarily indicative of future stock price performance. .
||12/9/2013|12/31/2013|12/31/2014|12/31/2015|
|american airlines group inc .|$ 100|$ 103|$ 219|$ 175|
|amex airline index|100|102|152|127|
|s&p 500|100|102|114|113|
purchases of equity securities by the issuer and affiliated purchasers since july 2014 , our board of directors has approved several share repurchase programs aggregating $ 7.0 billion of authority of which , as of december 31 , 2015 , $ 2.4 billion remained unused under repurchase programs .
Question: what was the 4 year return of american airlines group inc . common stock?
Answer: | 0.75 |
FINQA2932 | Please answer the given financial question based on the context.
Context: notes to five year summary ( a ) includes the effects of items not considered in the assessment of the operating performance of our business segments ( see the section , 201cresults of operations 2013 unallocated corporate ( expense ) income , net 201d in management 2019s discussion and analysis of financial condition and results of operations ( md&a ) ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 214 million , $ 139 million after tax ( $ 0.31 per share ) . also includes a reduction in income tax expense of $ 62 million ( $ 0.14 per share ) resulting from a tax benefit related to claims we filed for additional extraterritorial income exclusion ( eti ) tax benefits . these items increased earnings by $ 201 million after tax ( $ 0.45 per share ) . ( b ) includes the effects of items not considered in the assessment of the operating performance of our business segments ( see the section , 201cresults of operations 2013 unallocated corporate ( expense ) income , net 201d in md&a ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) . ( c ) includes the effects of items not considered in the assessment of the operating performance of our business segments ( see the section , 201cresults of operations 2013 unallocated corporate ( expense ) income , net 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 215 million , $ 154 million after tax ( $ 0.34 per share ) . also includes a reduction in income tax expense resulting from the closure of an internal revenue service examination of $ 144 million ( $ 0.32 per share ) . these items reduced earnings by $ 10 million after tax ( $ 0.02 per share ) . ( d ) includes the effects of items not considered in the assessment of the operating performance of our business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 153 million , $ 102 million after tax ( $ 0.22 per share ) . ( e ) includes the effects of items not considered in the assessment of the operating performance of our business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 1112 million , $ 632 million after tax ( $ 1.40 per share ) . ( f ) we define return on invested capital ( roic ) as net earnings plus after-tax interest expense divided by average invested capital ( stockholders 2019 equity plus debt ) , after adjusting stockholders 2019 equity by adding back adjustments related to postretirement benefit plans . we believe that reporting roic provides investors with greater visibility into how effectively we use the capital invested in our operations . we use roic to evaluate multi-year investment decisions and as a long-term performance measure , and also use it as a factor in evaluating management performance under certain of our incentive compensation plans . roic is not a measure of financial performance under gaap , and may not be defined and calculated by other companies in the same manner . roic should not be considered in isolation or as an alternative to net earnings as an indicator of performance . we calculate roic as follows : ( in millions ) 2006 2005 2004 2003 2002 .
|( in millions )|2006|2005|2004|2003|2002|
|net earnings|$ 2529|$ 1825|$ 1266|$ 1053|$ 500|
|interest expense ( multiplied by 65% ( 65 % ) ) 1|235|241|276|317|378|
|return|$ 2764|$ 2066|$ 1542|$ 1370|$ 878|
|average debt2 5|$ 4727|$ 5077|$ 5932|$ 6612|$ 7491|
|average equity3 5|7686|7590|7015|6170|6853|
|average benefit plan adjustments3 45|2006|1545|1296|1504|341|
|average invested capital|$ 14419|$ 14212|$ 14243|$ 14286|$ 14685|
|return on invested capital|19.2% ( 19.2 % )|14.5% ( 14.5 % )|10.8% ( 10.8 % )|9.6% ( 9.6 % )|6.0% ( 6.0 % )|
1 represents after-tax interest expense utilizing the federal statutory rate of 35% ( 35 % ) . 2 debt consists of long-term debt , including current maturities , and short-term borrowings ( if any ) . 3 equity includes non-cash adjustments , primarily for the additional minimum pension liability in all years and the adoption of fas 158 in 2006 . 4 average benefit plan adjustments reflect the cumulative value of entries identified in our statement of stockholders equity under the captions 201cadjustment for adoption of fas 158 201d and 201cminimum pension liability . 201d the annual benefit plan adjustments to equity were : 2006 = ( $ 1883 ) million ; 2005 = ( $ 105 ) million ; 2004 = ( $ 285 ) million ; 2003 = $ 331 million ; and 2002 = ( $ 1537 ) million . as these entries are recorded in the fourth quarter , the value added back to our average equity in a given year is the cumulative impact of all prior year entries plus 20% ( 20 % ) of the current year entry value . 5 yearly averages are calculated using balances at the start of the year and at the end of each quarter. .
Question: what was the average net earnings in millions from 2002 to 2006?
Answer: | 1434.6 |
FINQA2933 | Please answer the given financial question based on the context.
Context: for the years ended december a031 , 2018 , 2017 and 2016 , the amounts recognized in principal transactions in the consolidated statement of income related to derivatives not designated in a qualifying hedging relationship , as well as the underlying non-derivative instruments , are presented in note a06 to the consolidated financial statements . citigroup presents this disclosure by showing derivative gains and losses related to its trading activities together with gains and losses related to non-derivative instruments within the same trading portfolios , as this represents how these portfolios are risk managed . the amounts recognized in other revenue in the consolidated statement of income related to derivatives not designated in a qualifying hedging relationship are shown below . the table below does not include any offsetting gains ( losses ) on the economically hedged items to the extent that such amounts are also recorded in other revenue . gains ( losses ) included in other revenue year ended december 31 .
|in millions of dollars|gains ( losses ) included inother revenue year ended december 31 , 2018|gains ( losses ) included inother revenue year ended december 31 , 2017|gains ( losses ) included inother revenue year ended december 31 , 2016|
|interest rate contracts|$ -25 ( 25 )|$ -73 ( 73 )|$ 51|
|foreign exchange|-197 ( 197 )|2062|-847 ( 847 )|
|credit derivatives|-155 ( 155 )|-538 ( 538 )|-1174 ( 1174 )|
|total|$ -377 ( 377 )|$ 1451|$ -1970 ( 1970 )|
accounting for derivative hedging citigroup accounts for its hedging activities in accordance with asc 815 , derivatives and hedging . as a general rule , hedge accounting is permitted where the company is exposed to a particular risk , such as interest rate or foreign exchange risk , that causes changes in the fair value of an asset or liability or variability in the expected future cash flows of an existing asset , liability or a forecasted transaction that may affect earnings . derivative contracts hedging the risks associated with changes in fair value are referred to as fair value hedges , while contracts hedging the variability of expected future cash flows are cash flow hedges . hedges that utilize derivatives or debt instruments to manage the foreign exchange risk associated with equity investments in non-u.s.-dollar-functional- currency foreign subsidiaries ( net investment in a foreign operation ) are net investment hedges . to qualify as an accounting hedge under the hedge accounting rules ( versus an economic hedge where hedge accounting is not applied ) , a hedging relationship must be highly effective in offsetting the risk designated as being hedged . the hedging relationship must be formally documented at inception , detailing the particular risk management objective and strategy for the hedge . this includes the item and risk ( s ) being hedged , the hedging instrument being used and how effectiveness will be assessed . the effectiveness of these hedging relationships is evaluated at hedge inception and on an ongoing basis both on a retrospective and prospective basis , typically using quantitative measures of correlation , with hedge ineffectiveness measured and recorded in current earnings . hedge effectiveness assessment methodologies are performed in a similar manner for similar hedges , and are used consistently throughout the hedging relationships . the assessment of effectiveness may exclude changes in the value of the hedged item that are unrelated to the risks being hedged and the changes in fair value of the derivative associated with time value . prior to january 1 , 2018 , these excluded items were recognized in current earnings for the hedging derivative , while changes in the value of a hedged item that were not related to the hedged risk were not recorded . upon adoption of asc 2017-12 , citi excludes changes in the cross currency basis associated with cross currency swaps from the assessment of hedge effectiveness and records it in other comprehensive income . discontinued hedge accounting a hedging instrument must be highly effective in accomplishing the hedge objective of offsetting either changes in the fair value or cash flows of the hedged item for the risk being hedged . management may voluntarily de-designate an accounting hedge at any time , but if a hedging relationship is not highly effective , it no longer qualifies for hedge accounting and must be de-designated . subsequent changes in the fair value of the derivative are recognized in other revenue or principal transactions , similar to trading derivatives , with no offset recorded related to the hedged item . for fair value hedges , any changes in the fair value of the hedged item remain as part of the basis of the asset or liability and are ultimately realized as an element of the yield on the item . for cash flow hedges , changes in fair value of the end-user derivative remain in accumulated other comprehensive income ( loss ) ( aoci ) and are included in the earnings of future periods when the forecasted hedged cash flows impact earnings . however , if it becomes probable that some or all of the hedged forecasted transactions will not occur , any amounts that remain in aoci related to these transactions must be immediately reflected in other revenue . the foregoing criteria are applied on a decentralized basis , consistent with the level at which market risk is managed , but are subject to various limits and controls . the underlying asset , liability or forecasted transaction may be an individual item or a portfolio of similar items. .
Question: what was the change in millions in total gains ( losses ) included in other revenue between the year ended december 31 , 2016 and 2017?
Answer: | 3421.0 |
FINQA2934 | Please answer the given financial question based on the context.
Context: .
||2008|2007|2006|
|weighted average fair value of options granted|$ 18.47|$ 33.81|$ 20.01|
|expected volatility|0.3845|0.3677|0.3534|
|dividend yield|3.75% ( 3.75 % )|0.76% ( 0.76 % )|1.00% ( 1.00 % )|
|expected life of options in years|6.0|6.0|6.3|
|risk-free interest rate|2% ( 2 % )|4% ( 4 % )|5% ( 5 % )|
the black-scholes option valuation model was developed for use in estimating the fair value of traded options which have no vesting restrictions and are fully transferable . in addition , option valuation models require the input of highly subjective assumptions , including the expected stock price volatility . because the company 2019s employee stock options have characteristics significantly different from those of traded options , and because changes in the subjective input assumptions can materially affect the fair value estimate , in management 2019s opinion , the existing models do not necessarily provide a reliable single measure of the fair value of its employee stock options . the fair value of the rsus was determined based on the market value at the date of grant . the total fair value of awards vested during 2008 , 2007 , and 2006 was $ 35384 , $ 17840 , and $ 9413 , respectively . the total stock based compensation expense calculated using the black-scholes option valuation model in 2008 , 2007 , and 2006 was $ 38872 , $ 22164 , and $ 11913 , respectively.the aggregate intrinsic values of options outstanding and exercisable at december 27 , 2008 were $ 8.2 million and $ 8.2 million , respectively . the aggregate intrinsic value of options exercised during the year ended december 27 , 2008 was $ 0.6 million . aggregate intrinsic value represents the positive difference between the company 2019s closing stock price on the last trading day of the fiscal period , which was $ 19.39 on december 27 , 2008 , and the exercise price multiplied by the number of options exercised . as of december 27 , 2008 , there was $ 141.7 million of total unrecognized compensation cost related to unvested share-based compensation awards granted to employees under the stock compensation plans . that cost is expected to be recognized over a period of five years . employee stock purchase plan the shareholders also adopted an employee stock purchase plan ( espp ) . up to 2000000 shares of common stock have been reserved for the espp . shares will be offered to employees at a price equal to the lesser of 85% ( 85 % ) of the fair market value of the stock on the date of purchase or 85% ( 85 % ) of the fair market value on the enrollment date . the espp is intended to qualify as an 201cemployee stock purchase plan 201d under section 423 of the internal revenue code . during 2008 , 2007 , and 2006 , 362902 , 120230 , and 124693 shares , respectively were purchased under the plan for a total purchase price of $ 8782 , $ 5730 , and $ 3569 , respectively . at december 27 , 2008 , approximately 663679 shares were available for future issuance . 10 . earnings per share the following table sets forth the computation of basic and diluted net income per share: .
Question: considering the fair value of options granted in 2008 , what is going to be its estimated future value when the expected life ends?
Answer: | 23.03539 |
FINQA2935 | Please answer the given financial question based on the context.
Context: fhlb advances and other borrowings fhlb advances 2014the company had $ 0.7 billion and $ 0.5 billion in floating-rate and $ 0.2 billion and $ 1.8 billion in fixed-rate fhlb advances at december 31 , 2012 and 2011 , respectively . the floating-rate advances adjust quarterly based on the libor . during the year ended december 31 , 2012 , $ 650.0 million of fixed-rate fhlb advances were converted to floating-rate for a total cost of approximately $ 128 million which was capitalized and will be amortized over the remaining maturities using the effective interest method . in addition , during the year ended december 31 , 2012 , the company paid down in advance of maturity $ 1.0 billion of its fhlb advances and recorded $ 69.1 million in losses on the early extinguishment . this loss was recorded in the gains ( losses ) on early extinguishment of debt line item in the consolidated statement of income ( loss ) . the company did not have any similar transactions for the years ended december 31 , 2011 and 2010 . as a condition of its membership in the fhlb atlanta , the company is required to maintain a fhlb stock investment currently equal to the lesser of : a percentage of 0.2% ( 0.2 % ) of total bank assets ; or a dollar cap amount of $ 26 million . additionally , the bank must maintain an activity based stock investment which is currently equal to 4.5% ( 4.5 % ) of the bank 2019s outstanding advances at the time of borrowing . on a quarterly basis , the fhlb atlanta evaluates excess activity based stock holdings for its members and makes a determination regarding quarterly redemption of any excess activity based stock positions . the company had an investment in fhlb stock of $ 67.4 million and $ 140.2 million at december 31 , 2012 and 2011 , respectively . the company must also maintain qualified collateral as a percent of its advances , which varies based on the collateral type , and is further adjusted by the outcome of the most recent annual collateral audit and by fhlb 2019s internal ranking of the bank 2019s creditworthiness . these advances are secured by a pool of mortgage loans and mortgage-backed securities . at december 31 , 2012 and 2011 , the company pledged loans with a lendable value of $ 4.8 billion and $ 5.0 billion , respectively , of the one- to four-family and home equity loans as collateral in support of both its advances and unused borrowing lines . other borrowings 2014prior to 2008 , etbh raised capital through the formation of trusts , which sold trust preferred securities in the capital markets . the capital securities must be redeemed in whole at the due date , which is generally 30 years after issuance . each trust issued floating rate cumulative preferred securities ( 201ctrust preferred securities 201d ) , at par with a liquidation amount of $ 1000 per capital security . the trusts used the proceeds from the sale of issuances to purchase floating rate junior subordinated debentures ( 201csubordinated debentures 201d ) issued by etbh , which guarantees the trust obligations and contributed proceeds from the sale of its subordinated debentures to e*trade bank in the form of a capital contribution . the most recent issuance of trust preferred securities occurred in 2007 . the face values of outstanding trusts at december 31 , 2012 are shown below ( dollars in thousands ) : trusts face value maturity date annual interest rate .
|trusts|face value|maturity date|annual interest rate|
|etbh capital trust ii|$ 5000|2031|10.25% ( 10.25 % )|
|etbh capital trust i|20000|2031|3.75% ( 3.75 % ) above 6-month libor|
|etbh capital trust v vi viii|51000|2032|3.25%-3.65% ( 3.25%-3.65 % ) above 3-month libor|
|etbh capital trust vii ix 2014xii|65000|2033|3.00%-3.30% ( 3.00%-3.30 % ) above 3-month libor|
|etbh capital trust xiii 2014xviii xx|77000|2034|2.45%-2.90% ( 2.45%-2.90 % ) above 3-month libor|
|etbh capital trust xix xxi xxii|60000|2035|2.20%-2.40% ( 2.20%-2.40 % ) above 3-month libor|
|etbh capital trust xxiii 2014xxiv|45000|2036|2.10% ( 2.10 % ) above 3-month libor|
|etbh capital trust xxv 2014xxx|110000|2037|1.90%-2.00% ( 1.90%-2.00 % ) above 3-month libor|
|total|$ 433000|||
as of december 31 , 2011 , other borrowings also included $ 2.3 million of collateral pledged to the bank by its derivatives counterparties to reduce credit exposure to changes in market value . the company did not have any similar borrowings for the year ended december 31 , 2012. .
Question: at december 31 , 2012 what was the ratio of the face values of outstanding trusts with a maturity in 2037 to 2033
Answer: | 1.69231 |
FINQA2936 | Please answer the given financial question based on the context.
Context: table of contents extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness , including cash interest charges and non-cash write offs of unamortized debt issuance costs . as a result of the 2013 refinancing activities and the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes in 2014 , we recognized $ 100 million less interest expense in 2014 as compared to the 2013 period . other nonoperating expense , net in 2014 consisted principally of net foreign currency losses of $ 114 million and early debt extinguishment charges of $ 56 million . other nonoperating expense , net in 2013 consisted principally of net foreign currency losses of $ 56 million and early debt extinguishment charges of $ 29 million . other nonoperating expense , net increased $ 64 million , or 73.1% ( 73.1 % ) , during 2014 primarily due to special charges recognized as a result of early debt extinguishment and an increase in foreign currency losses driven by the strengthening of the u.s . dollar in foreign currency transactions , principally in latin american markets . we recorded a $ 43 million special charge for venezuelan foreign currency losses in 2014 . see part ii , item 7a . quantitative and qualitative disclosures about market risk for further discussion of our cash held in venezuelan bolivars . in addition , our 2014 nonoperating special items included $ 56 million primarily related to the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes and other indebtedness . 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 aag 2019s consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : .
||2013|
|labor-related deemed claim ( 1 )|$ 1733|
|aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )|325|
|fair value of conversion discount ( 4 )|218|
|professional fees|199|
|other|180|
|total reorganization items net|$ 2655|
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , we 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 aag 2019s consolidated financial statements in part ii , item 8a 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 , we 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. .
Question: what percentage of total reorganization items net were labor-related deemed claims in 2013?
Answer: | 0.65273 |
FINQA2937 | Please answer the given financial question based on the context.
Context: equity compensation plan information the following table summarizes the equity compensation plan information as of december 31 , 2011 . information is included for equity compensation plans approved by the stockholders and equity compensation plans not approved by the stockholders . number of securities to be issued upon exercise of outstanding options weighted average exercise number of securities remaining available for future issuance ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) 9683058 $ 78.07 7269562 equity compensation plans not approved by security holders ( 2 ) 776360 $ 42.82 .
|plan|number of securities tobe issued upon exerciseof outstanding options ( a )|weightedaverageexerciseprice ( b )|number of securitiesremaining available forfuture issuance ( excludingsecurities reflected incolumn ( a ) ) ( c )|
|equity compensation plansapproved by security holders ( 1 )|9683058|$ 78.07|7269562|
|equity compensation plans notapproved by security holders ( 2 )|776360|$ 42.82|-|
|total|10459418|$ 75.46|7269562|
( 1 ) includes the equity ownership plan , which was approved by the shareholders on may 15 , 1998 , the 2007 equity ownership plan and the 2011 equity ownership plan . the 2007 equity ownership plan was approved by entergy corporation shareholders on may 12 , 2006 , and 7000000 shares of entergy corporation common stock can be issued , with no more than 2000000 shares available for non-option grants . the 2011 equity ownership plan was approved by entergy corporation shareholders on may 6 , 2011 , and 5500000 shares of entergy corporation common stock can be issued from the 2011 equity ownership plan , with no more than 2000000 shares available for incentive stock option grants . the equity ownership plan , the 2007 equity ownership plan and the 2011 equity ownership plan ( the 201cplans 201d ) are administered by the personnel committee of the board of directors ( other than with respect to awards granted to non-employee directors , which awards are administered by the entire board of directors ) . eligibility under the plans is limited to the non-employee directors and to the officers and employees of an entergy system employer and any corporation 80% ( 80 % ) or more of whose stock ( based on voting power ) or value is owned , directly or indirectly , by entergy corporation . the plans provide for the issuance of stock options , restricted shares , equity awards ( units whose value is related to the value of shares of the common stock but do not represent actual shares of common stock ) , performance awards ( performance shares or units valued by reference to shares of common stock or performance units valued by reference to financial measures or property other than common stock ) and other stock-based awards . ( 2 ) entergy has a board-approved stock-based compensation plan . however , effective may 9 , 2003 , the board has directed that no further awards be issued under that plan . item 13 . certain relationships and related transactions and director independence for information regarding certain relationships , related transactions and director independence of entergy corporation , see the proxy statement under the headings 201ccorporate governance - director independence 201d and 201ctransactions with related persons , 201d which information is incorporated herein by reference . since december 31 , 2010 , none of the subsidiaries or any of their affiliates has participated in any transaction involving an amount in excess of $ 120000 in which any director or executive officer of any of the subsidiaries , any nominee for director , or any immediate family member of the foregoing had a material interest as contemplated by item 404 ( a ) of regulation s-k ( 201crelated party transactions 201d ) . entergy corporation 2019s board of directors has adopted written policies and procedures for the review , approval or ratification of related party transactions . under these policies and procedures , the corporate governance committee , or a subcommittee of the board of directors of entergy corporation composed of .
Question: in 2011 what was the outstanding shares of the equity compensation plans approved by security holders to the shares not approved
Answer: | 12.47238 |
FINQA2938 | Please answer the given financial question based on the context.
Context: 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 , 2009 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock. .
||12/31/2009|12/31/2010|12/31/2011|12/31/2012|12/31/2013|12/31/2014|
|united parcel service inc .|$ 100.00|$ 130.29|$ 135.35|$ 140.54|$ 205.95|$ 223.79|
|standard & poor 2019s 500 index|$ 100.00|$ 115.06|$ 117.48|$ 136.26|$ 180.38|$ 205.05|
|dow jones transportation average|$ 100.00|$ 126.74|$ 126.75|$ 136.24|$ 192.61|$ 240.91|
.
Question: what is the roi of an investment in s&p500 from 2010 to 2012?
Answer: | 0.18425 |
FINQA2939 | Please answer the given financial question based on the context.
Context: packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2005 9 . shareholders 2019 equity ( continued ) stockholder received proceeds , net of the underwriting discount , of $ 20.69 per share . the company did not sell any shares in , or receive any proceeds from , the secondary offering . concurrent with the closing of the secondary offering on december 21 , 2005 , the company entered into a common stock repurchase agreement with pca holdings llc . pursuant to the repurchase agreement , the company purchased 4500000 shares of common stock directly from pca holdings llc at the initial price to the public net of the underwriting discount or $ 20.69 per share , the same net price per share received by pca holdings llc in the secondary offering . these shares were retired on december 21 , 2005 . 10 . commitments and contingencies capital commitments the company had authorized capital expenditures of approximately $ 33.1 million and $ 55.2 million as of december 31 , 2005 and 2004 , respectively , in connection with the expansion and replacement of existing facilities and equipment . operating leases pca leases space for certain of its facilities and cutting rights to approximately 108000 acres of timberland under long-term leases . the company also leases equipment , primarily vehicles and rolling stock , and other assets under long-term leases of a duration generally of three years . the minimum lease payments under non-cancelable operating leases with lease terms in excess of one year are as follows : ( in thousands ) .
|2006|$ 24569|
|2007|21086|
|2008|14716|
|2009|9801|
|2010|6670|
|thereafter|37130|
|total|$ 113972|
capital lease obligations were not significant to the accompanying financial statements . total lease expense , including base rent on all leases and executory costs , such as insurance , taxes , and maintenance , for the years ended december 31 , 2005 , 2004 and 2003 was $ 35.8 million , $ 33.0 million and $ 31.6 million , respectively . these costs are included in cost of goods sold and selling and administrative expenses. .
Question: pursuant to the repurchase agreement , what was the total purchase price of the 4500000 shares of common stock directly from pca holdings llc?
Answer: | 93105000.0 |
FINQA2940 | Please answer the given financial question based on the context.
Context: jpmorgan chase & co./2012 annual report 249 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agreements 201d ) primarily to finance the firm 2019s inventory positions , acquire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations . securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets . resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest . securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received . where appropriate under applicable accounting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis . fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense , respectively . the firm has elected the fair value option for certain securities financing agreements . for further information regarding the fair value option , see note 4 on pages 214 2013 216 of this annual report . the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated balance sheets . generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue . however , for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue . the following table details the firm 2019s securities financing agreements , all of which are accounted for as collateralized financings during the periods presented . december 31 , ( in millions ) 2012 2011 securities purchased under resale agreements ( a ) $ 295413 $ 235000 securities borrowed ( b ) 119017 142462 securities sold under repurchase agreements ( c ) $ 215560 $ 197789 securities loaned ( d ) 23582 14214 ( a ) at december 31 , 2012 and 2011 , included resale agreements of $ 24.3 billion and $ 22.2 billion , respectively , accounted for at fair value . ( b ) at december 31 , 2012 and 2011 , included securities borrowed of $ 10.2 billion and $ 15.3 billion , respectively , accounted for at fair value . ( c ) at december 31 , 2012 and 2011 , included repurchase agreements of $ 3.9 billion and $ 6.8 billion , respectively , accounted for at fair value . ( d ) at december 31 , 2012 , included securities loaned of $ 457 million accounted for at fair value . there were no securities loaned accounted for at fair value at december 31 , 2011 . the amounts reported in the table above were reduced by $ 96.9 billion and $ 115.7 billion at december 31 , 2012 and 2011 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance . jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securities borrowed . the firm monitors the value of the underlying securities ( primarily g7 government securities , u.s . agency securities and agency mbs , and equities ) that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities . margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default . jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default . as a result of the firm 2019s credit risk mitigation practices with respect to resale and securities borrowed agreements as described above , the firm did not hold any reserves for credit impairment with respect to these agreements as of december 31 , 2012 and for further information regarding assets pledged and collateral received in securities financing agreements , see note 30 on pages 315 2013316 of this annual report. .
|december 31 ( in millions )|2012|2011|
|securities purchased under resale agreements ( a )|$ 295413|$ 235000|
|securities borrowed ( b )|119017|142462|
|securities sold under repurchase agreements ( c )|$ 215560|$ 197789|
|securities loaned ( d )|23582|14214|
jpmorgan chase & co./2012 annual report 249 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agreements 201d ) primarily to finance the firm 2019s inventory positions , acquire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations . securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets . resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest . securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received . where appropriate under applicable accounting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis . fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense , respectively . the firm has elected the fair value option for certain securities financing agreements . for further information regarding the fair value option , see note 4 on pages 214 2013 216 of this annual report . the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated balance sheets . generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue . however , for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue . the following table details the firm 2019s securities financing agreements , all of which are accounted for as collateralized financings during the periods presented . december 31 , ( in millions ) 2012 2011 securities purchased under resale agreements ( a ) $ 295413 $ 235000 securities borrowed ( b ) 119017 142462 securities sold under repurchase agreements ( c ) $ 215560 $ 197789 securities loaned ( d ) 23582 14214 ( a ) at december 31 , 2012 and 2011 , included resale agreements of $ 24.3 billion and $ 22.2 billion , respectively , accounted for at fair value . ( b ) at december 31 , 2012 and 2011 , included securities borrowed of $ 10.2 billion and $ 15.3 billion , respectively , accounted for at fair value . ( c ) at december 31 , 2012 and 2011 , included repurchase agreements of $ 3.9 billion and $ 6.8 billion , respectively , accounted for at fair value . ( d ) at december 31 , 2012 , included securities loaned of $ 457 million accounted for at fair value . there were no securities loaned accounted for at fair value at december 31 , 2011 . the amounts reported in the table above were reduced by $ 96.9 billion and $ 115.7 billion at december 31 , 2012 and 2011 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance . jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securities borrowed . the firm monitors the value of the underlying securities ( primarily g7 government securities , u.s . agency securities and agency mbs , and equities ) that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities . margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default . jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default . as a result of the firm 2019s credit risk mitigation practices with respect to resale and securities borrowed agreements as described above , the firm did not hold any reserves for credit impairment with respect to these agreements as of december 31 , 2012 and for further information regarding assets pledged and collateral received in securities financing agreements , see note 30 on pages 315 2013316 of this annual report. .
Question: in 2012 what was the percent of the securities loaned included in the accounted for at fair value
Answer: | 0.01938 |
FINQA2941 | Please answer the given financial question based on the context.
Context: the total intrinsic value of options exercised ( i.e . the difference between the market price at exercise and the price paid by the employee to exercise the options ) during fiscal 2011 , 2010 and 2009 was $ 96.5 million , $ 29.6 million and $ 4.7 million , respectively . the total amount of proceeds received by the company from exercise of these options during fiscal 2011 , 2010 and 2009 was $ 217.4 million , $ 240.4 million and $ 15.1 million , respectively . proceeds from stock option exercises pursuant to employee stock plans in the company 2019s statement of cash flows of $ 217.2 million , $ 216.1 million and $ 12.4 million for fiscal 2011 , 2010 and 2009 , respectively , are net of the value of shares surrendered by employees in certain limited circumstances to satisfy the exercise price of options , and to satisfy employee tax obligations upon vesting of restricted stock or restricted stock units and in connection with the exercise of stock options granted to the company 2019s employees under the company 2019s equity compensation plans . the withholding amount is based on the company 2019s minimum statutory withholding requirement . a summary of the company 2019s restricted stock unit award activity as of october 29 , 2011 and changes during the year then ended is presented below : restricted outstanding weighted- average grant- date fair value per share .
||restricted stock units outstanding|weighted- average grant- date fair value per share|
|restricted stock units outstanding at october 30 2010|1265|$ 28.21|
|units granted|898|$ 34.93|
|restrictions lapsed|-33 ( 33 )|$ 24.28|
|units forfeited|-42 ( 42 )|$ 31.39|
|restricted stock units outstanding at october 29 2011|2088|$ 31.10|
as of october 29 , 2011 , there was $ 88.6 million of total unrecognized compensation cost related to unvested share-based awards comprised of stock options and restricted stock units . that cost is expected to be recognized over a weighted-average period of 1.3 years . the total grant-date fair value of shares that vested during fiscal 2011 , 2010 and 2009 was approximately $ 49.6 million , $ 67.7 million and $ 74.4 million , respectively . common stock repurchase program the company 2019s common stock repurchase program has been in place since august 2004 . in the aggregate , the board of directors has authorized the company to repurchase $ 5 billion of the company 2019s common stock under the program . under the program , the company may repurchase outstanding shares of its common stock from time to time in the open market and through privately negotiated transactions . unless terminated earlier by resolution of the company 2019s board of directors , the repurchase program will expire when the company has repurchased all shares authorized under the program . as of october 29 , 2011 , the company had repurchased a total of approximately 125.0 million shares of its common stock for approximately $ 4278.5 million under this program . an additional $ 721.5 million remains available for repurchase of shares under the current authorized program . the repurchased shares are held as authorized but unissued shares of common stock . any future common stock repurchases will be dependent upon several factors , including the amount of cash available to the company in the united states and the company 2019s financial performance , outlook and liquidity . the company also from time to time repurchases shares in settlement of employee tax withholding obligations due upon the vesting of restricted stock units , or in certain limited circumstances to satisfy the exercise price of options granted to the company 2019s employees under the company 2019s equity compensation plans . analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what is the growth rate in total total amount of proceeds received by the company from exercise of options in 2011?
Answer: | 0.00602 |
FINQA2942 | Please answer the given financial question based on the context.
Context: our tax returns are currently under examination in various foreign jurisdictions . the major foreign tax jurisdictions under examination include germany , italy and switzerland . it is reasonably possible that such audits will be resolved in the next twelve months , but we do not anticipate that the resolution of these audits would result in any material impact on our results of operations or financial position . 12 . capital stock and earnings per share we have 2 million shares of series a participating cumulative preferred stock authorized for issuance , none of which were outstanding as of december 31 , 2007 . the numerator for both basic and diluted earnings per share is net earnings available to common stockholders . the denominator for basic earnings per share is the weighted average number of common shares outstanding during the period . the denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive stock options and other equity awards . the following is a reconciliation of weighted average shares for the basic and diluted share computations for the years ending december 31 ( in millions ) : .
||2007|2006|2005|
|weighted average shares outstanding for basic net earnings per share|235.5|243.0|247.1|
|effect of dilutive stock options and other equity awards|2.0|2.4|2.7|
|weighted average shares outstanding for diluted net earnings per share|237.5|245.4|249.8|
weighted average shares outstanding for basic net earnings per share 235.5 243.0 247.1 effect of dilutive stock options and other equity awards 2.0 2.4 2.7 weighted average shares outstanding for diluted net earnings per share 237.5 245.4 249.8 for the year ended december 31 , 2007 , an average of 3.1 million options to purchase shares of common stock were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of the common stock . for the years ended december 31 , 2006 and 2005 , an average of 7.6 million and 2.9 million options , respectively , were not included . in december 2005 , our board of directors authorized a stock repurchase program of up to $ 1 billion through december 31 , 2007 . in december 2006 , our board of directors authorized an additional stock repurchase program of up to $ 1 billion through december 31 , 2008 . as of december 31 , 2007 we had acquired approximately 19345200 shares at a cost of $ 1378.9 million , before commissions . 13 . segment data we design , develop , manufacture and market reconstructive orthopaedic implants , including joint and dental , spinal implants , trauma products and related orthopaedic surgical products which include surgical supplies and instruments designed to aid in orthopaedic surgical procedures and post-operation rehabilitation . we also provide other healthcare related services . revenue related to these services currently represents less than 1 percent of our total net sales . we manage operations through three major geographic segments 2013 the americas , which is comprised principally of the united states and includes other north , central and south american markets ; europe , which is comprised principally of europe and includes the middle east and africa ; and asia pacific , which is comprised primarily of japan and includes other asian and pacific markets . this structure is the basis for our reportable segment information discussed below . management evaluates operating segment performance based upon segment operating profit exclusive of operating expenses pertaining to global operations and corporate expenses , share-based compensation expense , settlement , acquisition , integration and other expenses , inventory step-up , in-process research and development write- offs and intangible asset amortization expense . global operations include research , development engineering , medical education , brand management , corporate legal , finance , and human resource functions , and u.s . and puerto rico based manufacturing operations and logistics . intercompany transactions have been eliminated from segment operating profit . management reviews accounts receivable , inventory , property , plant and equipment , goodwill and intangible assets by reportable segment exclusive of u.s and puerto rico based manufacturing operations and logistics and corporate assets . z i m m e r h o l d i n g s , i n c . 2 0 0 7 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) .
Question: what is the change in weighted average shares outstanding for diluted net earnings per share between 2006 and 2007 , in millions?
Answer: | -7.9 |
FINQA2943 | Please answer the given financial question based on the context.
Context: equity method investment earnings we include our share of the earnings of certain affiliates based on our economic ownership interest in the affiliates . significant affiliates include the ardent mills joint venture and affiliates that produce and market potato products for retail and foodservice customers . our share of earnings from our equity method investments was $ 122.1 million ( $ 119.1 million in the commercial foods segment and $ 3.0 million in the consumer foods segment ) and $ 32.5 million ( $ 29.7 million in the commercial foods segment and $ 2.8 million in the consumer foods segment ) in fiscal 2015 and 2014 , respectively . the increase in fiscal 2015 compared to fiscal 2014 reflects the earnings from the ardent mills joint venture as well as higher profits for an international potato joint venture . the earnings from the ardent mills joint venture reflect results for 11 months of operations , as we recognize earnings on a one-month lag , due to differences in fiscal year periods . in fiscal 2014 , earnings also reflected a $ 3.4 million charge reflecting the year-end write-off of actuarial losses in excess of 10% ( 10 % ) of the pension liability for an international potato venture . results of discontinued operations our discontinued operations generated after-tax income of $ 366.6 million and $ 141.4 million in fiscal 2015 and 2014 , respectively . the results of discontinued operations for fiscal 2015 include a pre-tax gain of $ 625.6 million ( $ 379.6 million after-tax ) recognized on the formation of the ardent mills joint venture . the results for fiscal 2014 reflect a pre-tax gain of $ 90.0 million ( $ 55.7 million after-tax ) related to the disposition of three flour milling facilities as part of the ardent mills formation . in fiscal 2014 , we also completed the sale of a small snack business , medallion foods , for $ 32.0 million in cash . we recognized an after-tax loss of $ 3.5 million on the sale of this business in fiscal 2014 . in fiscal 2014 , we recognized an impairment charge related to allocated amounts of goodwill and intangible assets , totaling $ 15.2 million after-tax , in anticipation of this divestiture . we also completed the sale of the assets of the lightlife ae business for $ 54.7 million in cash . we recognized an after-tax gain of $ 19.8 million on the sale of this business in fiscal 2014 . earnings ( loss ) per share diluted loss per share in fiscal 2015 was $ 0.60 , including a loss of $ 1.46 per diluted share from continuing operations and earnings of $ 0.86 per diluted share from discontinued operations . diluted earnings per share in fiscal 2014 were $ 0.70 , including $ 0.37 per diluted share from continuing operations and $ 0.33 per diluted share from discontinued operations . see 201citems impacting comparability 201d above as several significant items affected the comparability of year-over-year results of operations . fiscal 2014 compared to fiscal 2013 net sales ( $ in millions ) reporting segment fiscal 2014 net sales fiscal 2013 net sales .
|( $ in millions ) reporting segment|fiscal 2014 net sales|fiscal 2013 net sales|% ( % ) inc ( dec )|
|consumer foods|7315.7|7551.4|( 3 ) % ( % )|
|commercial foods|4332.2|4109.7|5% ( 5 % )|
|private brands|4195.7|1808.2|132% ( 132 % )|
|total|$ 15843.6|$ 13469.3|18% ( 18 % )|
overall , our net sales increased $ 2.37 billion to $ 15.84 billion in fiscal 2014 compared to fiscal 2013 , primarily related to the acquisition of ralcorp . consumer foods net sales for fiscal 2014 were $ 7.32 billion , a decrease of $ 235.7 million , or 3% ( 3 % ) , compared to fiscal 2013 . results reflected a 3% ( 3 % ) decrease in volume performance and a 1% ( 1 % ) decrease due to the impact of foreign exchange rates , partially offset by a 1% ( 1 % ) increase in price/mix . volume performance from our base businesses for fiscal 2014 was impacted negatively by competitor promotional activity . significant slotting and promotion investments related to new product launches , particularly in the first quarter , also weighed heavily on net sales in fiscal 2014 . in addition , certain shipments planned for the fourth quarter of fiscal 2014 were shifted to the first quarter of fiscal 2015 as a result of change in timing of retailer promotions and this negatively impacted volume performance. .
Question: what percent of net sales in fiscal 2014 where due to private brands?
Answer: | 0.26482 |
FINQA2944 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries notes to financial statements this difference as a regulatory asset or liability on an ongoing basis , resulting in a zero net balance for the regulatory asset at the end of the lease term . the amount was a net regulatory liability of $ 61.6 million and $ 27.8 million as of december 31 , 2013 and 2012 , respectively . as of december 31 , 2013 , system energy had future minimum lease payments ( reflecting an implicit rate of 5.13% ( 5.13 % ) ) , which are recorded as long-term debt , as follows : amount ( in thousands ) .
||amount ( in thousands )|
|2014|$ 51637|
|2015|52253|
|2016|13750|
|2017|13750|
|2018|13750|
|years thereafter|247500|
|total|392640|
|less : amount representing interest|295226|
|present value of net minimum lease payments|$ 97414|
.
Question: what portion of the total future minimum lease payments for system energy is due in the next 12 months?
Answer: | 0.13151 |
FINQA2945 | Please answer the given financial question based on the context.
Context: these simulations assume that as assets and liabilities mature , they are replaced or repriced at then current market rates . we also consider forward projections of purchase accounting accretion when forecasting net interest income . the following graph presents the libor/swap yield curves for the base rate scenario and each of the alternate scenarios one year forward . table 51 : alternate interest rate scenarios : one year forward base rates pnc economist market forward slope flattening 2y 3y 5y 10y the fourth quarter 2014 interest sensitivity analyses indicate that our consolidated balance sheet is positioned to benefit from an increase in interest rates and an upward sloping interest rate yield curve . we believe that we have the deposit funding base and balance sheet flexibility to adjust , where appropriate and permissible , to changing interest rates and market conditions . market risk management 2013 customer-related trading we engage in fixed income securities , derivatives and foreign exchange transactions to support our customers 2019 investing and hedging activities . these transactions , related hedges and the credit valuation adjustment ( cva ) related to our customer derivatives portfolio are marked-to-market daily and reported as customer-related trading activities . we do not engage in proprietary trading of these products . we use value-at-risk ( var ) as the primary means to measure and monitor market risk in customer-related trading activities . we calculate a diversified var at a 95% ( 95 % ) confidence interval . var is used to estimate the probability of portfolio losses based on the statistical analysis of historical market risk factors . a diversified var reflects empirical correlations across different asset classes . during 2014 , our 95% ( 95 % ) var ranged between $ .8 million and $ 3.9 million , averaging $ 2.1 million . during 2013 , our 95% ( 95 % ) var ranged between $ 1.7 million and $ 5.5 million , averaging $ 3.5 million . to help ensure the integrity of the models used to calculate var for each portfolio and enterprise-wide , we use a process known as backtesting . the backtesting process consists of comparing actual observations of gains or losses against the var levels that were calculated at the close of the prior day . this assumes that market exposures remain constant throughout the day and that recent historical market variability is a good predictor of future variability . our customer-related trading activity includes customer revenue and intraday hedging which helps to reduce losses , and may reduce the number of instances of actual losses exceeding the prior day var measure . there were two instances during 2014 under our diversified var measure where actual losses exceeded the prior day var measure . in comparison , there was one such instance during 2013 . we use a 500 day look back period for backtesting and include customer-related trading revenue . the following graph shows a comparison of enterprise-wide gains and losses against prior day diversified var for the period indicated . table 52 : enterprise 2013 wide gains/losses versus value-at- total customer-related trading revenue was as follows : table 53 : customer-related trading revenue ( a ) year ended december 31 in millions 2014 2013 .
|year ended december 31in millions|2014|2013|
|net interest income|$ 31|$ 30|
|noninterest income|147|234|
|total customer-related trading revenue|$ 178|$ 264|
|securities trading ( b )|$ 33|$ 21|
|foreign exchange|96|98|
|financial derivatives and other|49|145|
|total customer-related trading revenue|$ 178|$ 264|
( a ) customer-related trading revenues exclude underwriting fees for both periods presented . ( b ) includes changes in fair value for certain loans accounted for at fair value . customer-related trading revenues for 2014 decreased $ 86 million compared with 2013 . the decrease was primarily due to market interest rate changes impacting credit valuations for customer-related derivatives activities and reduced derivatives client sales revenues , which were partially offset by improved securities and foreign exchange client sales results . 92 the pnc financial services group , inc . 2013 form 10-k .
Question: between 2014 and 2013 , average 95% ( 95 % ) var decreased by how much in millions?\\n\\n
Answer: | 1.4 |
FINQA2946 | Please answer the given financial question based on the context.
Context: proved reserves can be added as expansions are permitted , funding is approved and certain stipulations of the joint venture agreement are satisfied . the following table sets forth changes in estimated quantities of net proved bitumen reserves for the year 2008 . estimated quantities of proved bitumen reserves ( millions of barrels ) 2008 .
|( millions of barrels )|2008|
|beginning of year|421|
|revisions ( a )|-30 ( 30 )|
|extensions discoveries and additions|6|
|production|-9 ( 9 )|
|end of year|388|
( a ) revisions were driven primarily by price and the impact of the new royalty regime discussed below . the above estimated quantity of net proved bitumen reserves is a forward-looking statement and is based on a number of assumptions , including ( among others ) commodity prices , volumes in-place , presently known physical data , recoverability of bitumen , industry economic conditions , levels of cash flow from operations , and other operating considerations . to the extent these assumptions prove inaccurate , actual recoveries could be different than current estimates . for a discussion of the proved bitumen reserves estimation process , see item 7 . management 2019s discussion and analysis of financial condition and results of operations 2013 critical accounting estimates 2013 estimated net recoverable reserve quantities 2013 proved bitumen reserves . operations at the aosp are not within the scope of statement of financial accounting standards ( 201csfas 201d ) no . 25 , 201csuspension of certain accounting requirements for oil and gas producing companies ( an amendment of financial accounting standards board ( 201cfasb 201d ) statement no . 19 ) , 201d sfas no . 69 , 201cdisclosures about oil and gas producing activities ( an amendment of fasb statements 19 , 25 , 33 and 39 ) , 201d and securities and exchange commission ( 201csec 201d ) rule 4-10 of regulation s-x ; therefore , bitumen production and reserves are not included in our supplementary information on oil and gas producing activities . the sec has recently issued a release amending these disclosure requirements effective for annual reports on form 10-k for fiscal years ending on or after december 31 , 2009 , see item 7 . management 2019s discussion and analysis of financial condition and results of operations 2013 accounting standards not yet adopted for additional information . prior to our acquisition of western , the first fully-integrated expansion of the existing aosp facilities was approved in 2006 . expansion 1 , which includes construction of mining and extraction facilities at the jackpine mine , expansion of treatment facilities at the existing muskeg river mine , expansion of the scotford upgrader and development of related infrastructure , is anticipated to begin operations in late 2010 or 2011 . when expansion 1 is complete , we will have more than 50000 bpd of net production and upgrading capacity in the canadian oil sands . the timing and scope of future expansions and debottlenecking opportunities on existing operations remain under review . during 2008 , the alberta government accepted the project 2019s application to have a portion of the expansion 1 capital costs form part of the muskeg river mine 2019s allowable cost recovery pool . due to commodity price declines in the year , royalties for 2008 were one percent of the gross mine revenue . commencing january 1 , 2009 , the alberta royalty regime has been amended such that royalty rates will be based on the canadian dollar ( 201ccad 201d ) equivalent monthly average west texas intermediate ( 201cwti 201d ) price . royalty rates will rise from a minimum of one percent to a maximum of nine percent under the gross revenue method and from a minimum of 25 percent to a maximum of 40 percent under the net revenue method . under both methods , the minimum royalty is based on a wti price of $ 55.00 cad per barrel and below while the maximum royalty is reached at a wti price of $ 120.00 cad per barrel and above , with a linear increase in royalty between the aforementioned prices . the above discussion of the oil sands mining segment includes forward-looking statements concerning the anticipated completion of aosp expansion 1 . factors which could affect the expansion project include transportation logistics , availability of materials and labor , unforeseen hazards such as weather conditions , delays in obtaining or conditions imposed by necessary government and third-party approvals and other risks customarily associated with construction projects . refining , marketing and transportation refining we own and operate seven refineries in the gulf coast , midwest and upper great plains regions of the united states with an aggregate refining capacity of 1.016 million barrels per day ( 201cmmbpd 201d ) of crude oil . during 2008 .
Question: in ( millions of barrels ) , what was the average of beginning and end of year reserves?
Answer: | 404.5 |
FINQA2947 | Please answer the given financial question based on the context.
Context: equity compensation plan information the following table summarizes the equity compensation plan information as of december 31 , 2011 . information is included for equity compensation plans approved by the stockholders and equity compensation plans not approved by the stockholders . number of securities to be issued upon exercise of outstanding options weighted average exercise number of securities remaining available for future issuance ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) 9683058 $ 78.07 7269562 equity compensation plans not approved by security holders ( 2 ) 776360 $ 42.82 .
|plan|number of securities tobe issued upon exerciseof outstanding options ( a )|weightedaverageexerciseprice ( b )|number of securitiesremaining available forfuture issuance ( excludingsecurities reflected incolumn ( a ) ) ( c )|
|equity compensation plansapproved by security holders ( 1 )|9683058|$ 78.07|7269562|
|equity compensation plans notapproved by security holders ( 2 )|776360|$ 42.82|-|
|total|10459418|$ 75.46|7269562|
( 1 ) includes the equity ownership plan , which was approved by the shareholders on may 15 , 1998 , the 2007 equity ownership plan and the 2011 equity ownership plan . the 2007 equity ownership plan was approved by entergy corporation shareholders on may 12 , 2006 , and 7000000 shares of entergy corporation common stock can be issued , with no more than 2000000 shares available for non-option grants . the 2011 equity ownership plan was approved by entergy corporation shareholders on may 6 , 2011 , and 5500000 shares of entergy corporation common stock can be issued from the 2011 equity ownership plan , with no more than 2000000 shares available for incentive stock option grants . the equity ownership plan , the 2007 equity ownership plan and the 2011 equity ownership plan ( the 201cplans 201d ) are administered by the personnel committee of the board of directors ( other than with respect to awards granted to non-employee directors , which awards are administered by the entire board of directors ) . eligibility under the plans is limited to the non-employee directors and to the officers and employees of an entergy system employer and any corporation 80% ( 80 % ) or more of whose stock ( based on voting power ) or value is owned , directly or indirectly , by entergy corporation . the plans provide for the issuance of stock options , restricted shares , equity awards ( units whose value is related to the value of shares of the common stock but do not represent actual shares of common stock ) , performance awards ( performance shares or units valued by reference to shares of common stock or performance units valued by reference to financial measures or property other than common stock ) and other stock-based awards . ( 2 ) entergy has a board-approved stock-based compensation plan . however , effective may 9 , 2003 , the board has directed that no further awards be issued under that plan . item 13 . certain relationships and related transactions and director independence for information regarding certain relationships , related transactions and director independence of entergy corporation , see the proxy statement under the headings 201ccorporate governance - director independence 201d and 201ctransactions with related persons , 201d which information is incorporated herein by reference . since december 31 , 2010 , none of the subsidiaries or any of their affiliates has participated in any transaction involving an amount in excess of $ 120000 in which any director or executive officer of any of the subsidiaries , any nominee for director , or any immediate family member of the foregoing had a material interest as contemplated by item 404 ( a ) of regulation s-k ( 201crelated party transactions 201d ) . entergy corporation 2019s board of directors has adopted written policies and procedures for the review , approval or ratification of related party transactions . under these policies and procedures , the corporate governance committee , or a subcommittee of the board of directors of entergy corporation composed of .
Question: in 2011 what as the percent of the number of securities to be issued upon exercise of outstanding options authorized by the shareholders
Answer: | 0.92577 |
FINQA2948 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis of financial condition and results of operations ( continued ) the following results drove changes in ccg operating income by approximately the amounts indicated: .
|( in millions )|operating income reconciliation|
|$ 10646|2016 ccg operating income|
|1250|lower ccg platform unit cost|
|905|lower ccg operating expense|
|625|higher gross margin from ccg platform revenue1|
|-645 ( 645 )|higher factory start-up costs primarily driven by the ramp of our 10nm process technology|
|345|other|
|$ 8166|2015 ccg operating income|
|-2060 ( 2060 )|higher ccg platform unit costs|
|-1565 ( 1565 )|lower gross margin from ccg platform revenue2|
|435|lower factory start-up costs primarily driven by the ramp of our 14nm process technology|
|430|lower production costs primarily on our 14nm products treated as period charges in 2014|
|375|lower operating expense|
|224|other|
|$ 10327|2014 ccg operating income|
1 higher gross margin from higher ccg platform revenue was driven by higher average selling prices on notebook and desktop platforms , offset by lower desktop and notebook platform unit sales . 2 lower gross margin from lower ccg platform revenue was driven by lower desktop and notebook platform unit sales , partially offset by higher average selling prices on desktop , notebook , and tablet platforms . data center group segment product overview the dcg operating segment offers platforms designed to provide leading energy-efficient performance for all server , network , and storage applications . in addition , dcg focuses on lowering the total cost of ownership on other specific workload- optimizations for the enterprise , cloud service providers , and communications service provider market segments . in 2016 , we launched the following platforms with an array of functionalities and advancements : 2022 intel ae xeon ae processor e5 v4 family , the foundation for high performing clouds and delivers energy-efficient performance for server , network , and storage workloads . 2022 intel xeon processor e7 v4 family , targeted at platforms requiring four or more cpus ; this processor family delivers high performance and is optimized for real-time analytics and in-memory computing , along with industry-leading reliability , availability , and serviceability . 2022 intel ae xeon phi 2122 product family , formerly code-named knights landing , with up to 72 high-performance intel processor cores , integrated memory and fabric , and a common software programming model with intel xeon processors . the intel xeon phi product family is designed for highly parallel compute and memory bandwidth-intensive workloads . intel xeon phi processors are positioned to increase the performance of supercomputers , enabling trillions of calculations per second , and to address emerging data analytics and artificial intelligence solutions . in 2017 , we expect to release our next generation of intel xeon processors for compute , storage , and network ; a next-generation intel xeon phi processor optimized for deep learning ; and a suite of single-socket products , including next-generation intel xeon e3 processors , next-generation intel atom processors , and next-generation intel xeon-d processors for dense solutions. .
Question: what is the growth rate in ccg operating income in 2015?
Answer: | -0.20926 |
FINQA2949 | Please answer the given financial question based on the context.
Context: other-than-temporary impairments on investment securities . in april 2009 , the fasb revised the authoritative guidance for the recognition and presentation of other-than-temporary impairments . this new guidance amends the recognition guidance for other-than-temporary impairments of debt securities and expands the financial statement disclosures for other-than-temporary impairments on debt and equity securities . for available for sale debt securities that the company has no intent to sell and more likely than not will not be required to sell prior to recovery , only the credit loss component of the impairment would be recognized in earnings , while the rest of the fair value loss would be recognized in accumulated other comprehensive income ( loss ) . the company adopted this guidance effective april 1 , 2009 . upon adoption the company recognized a cumulative-effect adjustment increase in retained earnings ( deficit ) and decrease in accumulated other comprehensive income ( loss ) as follows : ( dollars in thousands ) .
|cumulative-effect adjustment gross|$ 65658|
|tax|-8346 ( 8346 )|
|cumulative-effect adjustment net|$ 57312|
measurement of fair value in inactive markets . in april 2009 , the fasb revised the authoritative guidance for fair value measurements and disclosures , which reaffirms that fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions . it also reaffirms the need to use judgment in determining if a formerly active market has become inactive and in determining fair values when the market has become inactive . there was no impact to the company 2019s financial statements upon adoption . fair value disclosures about pension plan assets . in december 2008 , the fasb revised the authoritative guidance for employers 2019 disclosures about pension plan assets . this new guidance requires additional disclosures about the components of plan assets , investment strategies for plan assets and significant concentrations of risk within plan assets . the company , in conjunction with fair value measurement of plan assets , separated plan assets into the three fair value hierarchy levels and provided a roll forward of the changes in fair value of plan assets classified as level 3 in the 2009 annual consolidated financial statements . these disclosures had no effect on the company 2019s accounting for plan benefits and obligations . revisions to earnings per share calculation . in june 2008 , the fasb revised the authoritative guidance for earnings per share for determining whether instruments granted in share-based payment transactions are participating securities . this new guidance requires unvested share-based payment awards that contain non- forfeitable rights to dividends be considered as a separate class of common stock and included in the earnings per share calculation using the two-class method . the company 2019s restricted share awards meet this definition and are therefore included in the basic earnings per share calculation . additional disclosures for derivative instruments . in march 2008 , the fasb issued authoritative guidance for derivative instruments and hedging activities , which requires enhanced disclosures on derivative instruments and hedged items . on january 1 , 2009 , the company adopted the additional disclosure for the equity index put options . no comparative information for periods prior to the effective date was required . this guidance had no impact on how the company records its derivatives. .
Question: what is the tax rate on the cumulative-effect adjustment?
Answer: | 0.12711 |
FINQA2950 | Please answer the given financial question based on the context.
Context: adobe systems incorporated notes to consolidated financial statements ( continued ) foreign currency translation we translate assets and liabilities of foreign subsidiaries , whose functional currency is their local currency , at exchange rates in effect at the balance sheet date . we translate revenue and expenses at the monthly average exchange rates . we include accumulated net translation adjustments in stockholders 2019 equity as a component of accumulated other comprehensive income . property and equipment we record property and equipment at cost less accumulated depreciation and amortization . property and equipment are depreciated using the straight-line method over their estimated useful lives ranging from 1 to 5 years for computers and equipment , 1 to 6 years for furniture and fixtures and up to 35 years for buildings . leasehold improvements are amortized using the straight-line method over the lesser of the remaining respective lease term or useful lives . goodwill , purchased intangibles and other long-lived assets we review our goodwill for impairment annually , or more frequently , if facts and circumstances warrant a review . we completed our annual impairment test in the second quarter of fiscal 2009 and determined that there was no impairment . goodwill is assigned to one or more reporting segments on the date of acquisition . we evaluate goodwill for impairment by comparing the fair value of each of our reporting segments to its carrying value , including the associated goodwill . to determine the fair values , we use the market approach based on comparable publicly traded companies in similar lines of businesses and the income approach based on estimated discounted future cash flows . our cash flow assumptions consider historical and forecasted revenue , operating costs and other relevant factors . we amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists . we continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets , including our intangible assets may not be recoverable . when such events or changes in circumstances occur , we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows . if the future undiscounted cash flows are less than the carrying amount of these assets , we recognize an impairment loss based on the excess of the carrying amount over the fair value of the assets . we did not recognize any intangible asset impairment charges in fiscal 2009 , 2008 or 2007 . our intangible assets are amortized over their estimated useful lives of 1 to 13 years as shown in the table below . amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed . weighted average useful life ( years ) .
||weighted average useful life ( years )|
|purchased technology|7|
|localization|1|
|trademarks|7|
|customer contracts and relationships|10|
|other intangibles|2|
software development costs capitalization of software development costs for software to be sold , leased , or otherwise marketed begins upon the establishment of technological feasibility , which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate . amortization begins once the software is ready for its intended use , generally based on the pattern in which the economic benefits will be consumed . to date , software development costs incurred between completion of a working prototype and general availability of the related product have not been material . revenue recognition our revenue is derived from the licensing of software products , consulting , hosting services and maintenance and support . primarily , we recognize revenue when persuasive evidence of an arrangement exists , we have delivered the product or performed the service , the fee is fixed or determinable and collection is probable. .
Question: for the weighted average useful life ( years ) of intangibles , was the life of purchased technology greater than localization?
Answer: | yes |
FINQA2951 | Please answer the given financial question based on the context.
Context: 2322 t . r o w e p r i c e g r o u p a n n u a l r e p o r t 2 0 1 1 c o n t r a c t u a l o b l i g at i o n s the following table presents a summary of our future obligations ( in a0millions ) under the terms of existing operating leases and other contractual cash purchase commitments at december 31 , 2011 . other purchase commitments include contractual amounts that will be due for the purchase of goods or services to be used in our operations and may be cancelable at earlier times than those indicated , under certain conditions that may involve termination fees . because these obligations are generally of a normal recurring nature , we expect that we will fund them from future cash flows from operations . the information presented does not include operating expenses or capital expenditures that will be committed in the normal course of operations in 2012 and future years . the information also excludes the $ 4.7 a0million of uncertain tax positions discussed in note 9 to our consolidated financial statements because it is not possible to estimate the time period in which a payment might be made to the tax authorities. .
||total|2012|2013-14|2015-16|later|
|noncancelable operating leases|$ 185|$ 31|$ 63|$ 57|$ 34|
|other purchase commitments|160|112|38|10|-|
|total|$ 345|$ 143|$ 101|$ 67|$ 34|
we also have outstanding commitments to fund additional contributions to investment partnerships in which we have an existing investment totaling $ 42.5 a0million at december 31 , 2011 . c r i t i c a l a c c o u n t i n g p o l i c i e s the preparation of financial statements often requires the selection of specific accounting methods and policies from among several acceptable alternatives . further , significant estimates and judgments may be required in selecting and applying those methods and policies in the recognition of the assets and liabilities in our balance sheet , the revenues and expenses in our statement of income , and the information that is contained in our significant accounting policies and notes to consolidated financial statements . making these estimates and judgments requires the analysis of information concerning events that may not yet be complete and of facts and circumstances that may change over time . accordingly , actual amounts or future results can differ materially from those estimates that we include currently in our consolidated financial statements , significant accounting policies , and notes . we present those significant accounting policies used in the preparation of our consolidated financial statements as an integral part of those statements within this 2011 annual report . in the following discussion , we highlight and explain further certain of those policies that are most critical to the preparation and understanding of our financial statements . other than temporary impairments of available-for-sale securities . we generally classify our investment holdings in sponsored mutual funds and the debt securities held for investment by our savings bank subsidiary as available-for-sale . at the end of each quarter , we mark the carrying amount of each investment holding to fair value and recognize an unrealized gain or loss as a component of comprehensive income within the statement of stockholders 2019 equity . we next review each individual security position that has an unrealized loss or impairment to determine if that impairment is other than temporary . in determining whether a mutual fund holding is other than temporarily impaired , we consider many factors , including the duration of time it has existed , the severity of the impairment , any subsequent changes in value , and our intent and ability to hold the security for a period of time sufficient for an anticipated recovery in fair value . subject to the other considerations noted above , with respect to duration of time , we believe a mutual fund holding with an unrealized loss that has persisted daily throughout the six months between quarter-ends is generally presumed to have an other than temporary impairment . we may also recognize an other than temporary loss of less than six months in our statement of income if the particular circumstances of the underlying investment do not warrant our belief that a near-term recovery is possible . an impaired debt security held by our savings bank subsidiary is considered to have an other than temporary loss that we will recognize in our statement of income if the impairment is caused by a change in credit quality that affects our ability to recover our amortized cost or if we intend to sell the security or believe that it is more likely than not that we will be required to sell the security before recovering cost . minor impairments of 5% ( 5 % ) or less are generally considered temporary . other than temporary impairments of equity method investments . we evaluate our equity method investments , including our investment in uti , for impairment when events or changes in circumstances indicate that the carrying value of the investment exceeds its fair value , and the decline in fair value is other than temporary . goodwill . we internally conduct , manage and report our operations as one investment advisory business . we do not have distinct operating segments or components that separately constitute a business . accordingly , we attribute goodwill to a single reportable business segment and reporting unit 2014our investment advisory business . we evaluate the carrying amount of goodwill in our balance sheet for possible impairment on an annual basis in the third quarter of each year using a fair value approach . goodwill would be considered impaired whenever our historical carrying amount exceeds the fair value of our investment advisory business . our annual testing has demonstrated that the fair value of our investment advisory business ( our market capitalization ) exceeds our carrying amount ( our stockholders 2019 equity ) and , therefore , no impairment exists . should we reach a different conclusion in the future , additional work would be performed to ascertain the amount of the non-cash impairment charge to be recognized . we must also perform impairment testing at other times if an event or circumstance occurs indicating that it is more likely than not that an impairment has been incurred . the maximum future impairment of goodwill that we could incur is the amount recognized in our balance sheet , $ 665.7 a0million . stock options . we recognize stock option-based compensation expense in our consolidated statement of income using a fair value based method . fair value methods use a valuation model for shorter-term , market-traded financial instruments to theoretically value stock option grants even though they are not available for trading and are of longer duration . the black- scholes option-pricing model that we use includes the input of certain variables that are dependent on future expectations , including the expected lives of our options from grant date to exercise date , the volatility of our underlying common shares in the market over that time period , and the rate of dividends that we will pay during that time . our estimates of these variables are made for the purpose of using the valuation model to determine an expense for each reporting period and are not subsequently adjusted . unlike most of our expenses , the resulting charge to earnings using a fair value based method is a non-cash charge that is never measured by , or adjusted based on , a cash outflow . provision for income taxes . after compensation and related costs , our provision for income taxes on our earnings is our largest annual expense . we operate in numerous states and countries through our various subsidiaries , and must allocate our income , expenses , and earnings under the various laws and regulations of each of these taxing jurisdictions . accordingly , our provision for income taxes represents our total estimate of the liability that we have incurred in doing business each year in all of our locations . annually , we file tax returns that represent our filing positions with each jurisdiction and settle our return liabilities . each jurisdiction has the right to audit those returns and may take different positions with respect to income and expense allocations and taxable earnings determinations . from time to time , we may also provide for estimated liabilities associated with uncertain tax return filing positions that are subject to , or in the process of , being audited by various tax authorities . because the determination of our annual provision is subject to judgments and estimates , it is likely that actual results will vary from those recognized in our financial statements . as a result , we recognize additions to , or reductions of , income tax expense during a reporting period that pertain to prior period provisions as our estimated liabilities are revised and actual tax returns and tax audits are settled . we recognize any such prior period adjustment in the discrete quarterly period in which it is determined . n e w ly i s s u e d b u t n o t y e t a d o p t e d a c c o u n t i n g g u i d a n c e in may 2011 , the fasb issued amended guidance clarifying how to measure and disclose fair value . we do not believe the adoption of such amended guidance on january 1 , 2012 , will have a significant effect on our consolidated financial statements . we have also considered all other newly issued accounting guidance that is applicable to our operations and the preparation of our consolidated statements , including that which we have not yet adopted . we do not believe that any such guidance will have a material effect on our financial position or results of operation. .
Question: what percentage of total other purchase commitments is made up of noncancelable operating leases?
Answer: | 0.53623 |
FINQA2952 | Please answer the given financial question based on the context.
Context: aeronautics 2019 operating profit for 2011 increased $ 132 million , or 9% ( 9 % ) , compared to 2010 . the increase primarily was attributable to approximately $ 115 million of higher operating profit on c-130 programs due to increased volume and the retirement of risks ; increased volume and risk retirements on f-16 programs of about $ 50 million and c-5 programs of approximately $ 20 million ; and about $ 70 million due to risk retirements on other aeronautics sustainment activities in 2011 . these increases partially were offset by a decline in operating profit of approximately $ 75 million on the f-22 program and f-35 development contract primarily due to lower volume and about $ 55 million on other programs , including f-35 lrip , primarily due to lower profit rate adjustments in 2011 compared to 2010 . adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 90 million higher in 2011 compared to 2010 . backlog backlog decreased in 2012 compared to 2011 mainly due to lower orders on f-35 contracts and c-130 programs , partially offset by higher orders on f-16 programs . backlog increased in 2011 compared to 2010 mainly due to higher orders on f-35 contracts , which partially were offset by higher sales volume on the c-130 programs . trends we expect aeronautics will experience a mid single digit percentage range decline in net sales for 2013 as compared to 2012 . a decrease in net sales from a decline in f-16 and c-130j aircraft deliveries is expected to be partially offset by an increase in net sales volume on f-35 lrip contracts . operating profit is projected to decrease at a high single digit percentage range from 2012 levels due to the expected decline in net sales as well as changes in aircraft mix , resulting in a slight decline in operating margins between the years . information systems & global solutions our is&gs business segment provides management services , integrated information technology solutions , and advanced technology systems and expertise 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 continuing downturn in the federal information technology budgets and the impact of the continuing resolution that was effective on october 1 , 2012 , the start of the u.s . government 2019s fiscal year . is&gs 2019 operating results included the following ( in millions ) : .
||2012|2011|2010|
|net sales|$ 8846|$ 9381|$ 9921|
|operating profit|808|874|814|
|operating margins|9.1% ( 9.1 % )|9.3% ( 9.3 % )|8.2% ( 8.2 % )|
|backlog at year-end|8700|9300|9700|
2012 compared to 2011 is&gs 2019 net sales for 2012 decreased $ 535 million , or 6% ( 6 % ) , compared to 2011 . the decrease was attributable to lower net sales of approximately $ 485 million due to the substantial completion of various programs during 2011 ( primarily jtrs ; odin ; and u.k . census ) ; and about $ 255 million due to lower volume on numerous other programs ( primarily hanford ; warfighter information network-tactical ( win-t ) ; command , control , battle management and communications ( c2bmc ) ; and transportation worker identification credential ( twic ) ) . partially offsetting the decreases were higher net sales of approximately $ 140 million from qtc , which was acquired early in the fourth quarter of 2011 ; and about $ 65 million from increased activity on numerous other programs , primarily federal cyber security programs and persistent threat detection system ( ptds ) operational support . is&gs 2019 operating profit for 2012 decreased $ 66 million , or 8% ( 8 % ) , compared to 2011 . the decrease was attributable to lower operating profit of approximately $ 50 million due to the favorable impact of the odin contract completion in 2011 ; about $ 25 million due to an increase in reserves for performance issues related to an international airborne surveillance system in 2012 ; and approximately $ 20 million due to lower volume on certain programs ( primarily c2bmc and win-t ) . partially offsetting the decreases was an increase in operating profit due to higher risk retirements of approximately $ 15 million from the twic program ; and about $ 10 million due to increased activity on numerous other programs , primarily federal cyber security programs and ptds operational support . operating profit for the jtrs program was comparable as a decrease in volume was offset by a decrease in reserves . adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 20 million higher for 2012 compared to 2011. .
Question: what is the growth rate in net sales for is&gs in 2011?
Answer: | -0.05443 |
FINQA2953 | Please answer the given financial question based on the context.
Context: annual report on form 10-k 108 fifth third bancorp part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the information required by this item is included in the corporate information found on the inside of the back cover and in the discussion of dividend limitations that the subsidiaries can pay to the bancorp discussed in note 26 of the notes to the consolidated financial statements . additionally , as of december 31 , 2008 , the bancorp had approximately 60025 shareholders of record . issuer purchases of equity securities period shares purchased average paid per shares purchased as part of publicly announced plans or programs maximum shares that may be purchased under the plans or programs .
|period|sharespurchased ( a )|averagepricepaid pershare|sharespurchasedas part ofpubliclyannouncedplans orprograms|maximumshares thatmay bepurchasedunder theplans orprograms|
|october 2008|25394|$ -|-|19201518|
|november 2008|7526|-|-|19201518|
|december 2008|40|-|-|19201518|
|total|32960|$ -|-|19201518|
( a ) the bancorp repurchased 25394 , 7526 and 40 shares during october , november and december of 2008 in connection with various employee compensation plans of the bancorp . these purchases are not included against the maximum number of shares that may yet be purchased under the board of directors authorization. .
Question: what portion of the total purchased shares presented in the table was purchased during october 2008?
Answer: | 0.77045 |
FINQA2954 | Please answer the given financial question based on the context.
Context: eog resources , inc . supplemental information to consolidated financial statements ( continued ) capitalized costs relating to oil and gas producing activities . the following table sets forth the capitalized costs relating to eog's crude oil and natural gas producing activities at december 31 , 2017 and 2016: .
||2017|2016|
|proved properties|$ 48845672|$ 45751965|
|unproved properties|3710069|3840126|
|total|52555741|49592091|
|accumulated depreciation depletion and amortization|-29191247 ( 29191247 )|-26247062 ( 26247062 )|
|net capitalized costs|$ 23364494|$ 23345029|
costs incurred in oil and gas property acquisition , exploration and development activities . the acquisition , exploration and development costs disclosed in the following tables are in accordance with definitions in the extractive industries - oil and a gas topic of the accounting standards codification ( asc ) . acquisition costs include costs incurred to purchase , lease or otherwise acquire property . exploration costs include additions to exploratory wells , including those in progress , and exploration expenses . development costs include additions to production facilities and equipment and additions to development wells , including those in progress. .
Question: what are the average cost of accumulated depreciation depletion and amortization for 2016 and 2017?
Answer: | -27719154.5 |
FINQA2955 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) the effect of foreign exchange rate changes on cash , cash equivalents and restricted cash included in the consolidated statements of cash flows resulted in an increase of $ 11.6 in 2016 , primarily a result of the brazilian real strengthening against the u.s . dollar as of december 31 , 2016 compared to december 31 , 2015. .
|balance sheet data|december 31 , 2017|december 31 , 2016|
|cash cash equivalents and marketable securities|$ 791.0|$ 1100.6|
|short-term borrowings|$ 84.9|$ 85.7|
|current portion of long-term debt|2.0|323.9|
|long-term debt|1285.6|1280.7|
|total debt|$ 1372.5|$ 1690.3|
liquidity outlook we expect our cash flow from operations and existing cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months . we also have a committed corporate credit facility , uncommitted lines of credit and a commercial paper program available to support our operating needs . we continue to maintain a disciplined approach to managing liquidity , with flexibility over significant uses of cash , including our capital expenditures , cash used for new acquisitions , our common stock repurchase program and our common stock dividends . from time to time , we evaluate market conditions and financing alternatives for opportunities to raise additional funds or otherwise improve our liquidity profile , enhance our financial flexibility and manage market risk . our ability to access the capital markets depends on a number of factors , which include those specific to us , such as our credit ratings , and those related to the financial markets , such as the amount or terms of available credit . there can be no guarantee that we would be able to access new sources of liquidity , or continue to access existing sources of liquidity , on commercially reasonable terms , or at all . funding requirements our most significant funding requirements include our operations , non-cancelable operating lease obligations , capital expenditures , acquisitions , common stock dividends , taxes and debt service . additionally , we may be required to make payments to minority shareholders in certain subsidiaries if they exercise their options to sell us their equity interests . notable funding requirements include : 2022 debt service 2013 as of december 31 , 2017 , we had outstanding short-term borrowings of $ 84.9 from our uncommitted lines of credit used primarily to fund seasonal working capital needs . the remainder of our debt is primarily long-term , with maturities scheduled through 2024 . see the table below for the maturity schedule of our long-term debt . 2022 acquisitions 2013 we paid cash of $ 29.7 , net of cash acquired of $ 7.1 , for acquisitions completed in 2017 . we also paid $ 0.9 in up-front payments and $ 100.8 in deferred payments for prior-year acquisitions as well as ownership increases in our consolidated subsidiaries . in addition to potential cash expenditures for new acquisitions , we expect to pay approximately $ 42.0 in 2018 related to prior acquisitions . we may also be required to pay approximately $ 33.0 in 2018 related to put options held by minority shareholders if exercised . we will continue to evaluate strategic opportunities to grow and continue to strengthen our market position , particularly in our digital and marketing services offerings , and to expand our presence in high-growth and key strategic world markets . 2022 dividends 2013 during 2017 , we paid four quarterly cash dividends of $ 0.18 per share on our common stock , which corresponded to aggregate dividend payments of $ 280.3 . on february 14 , 2018 , we announced that our board of directors ( the 201cboard 201d ) had declared a common stock cash dividend of $ 0.21 per share , payable on march 15 , 2018 to holders of record as of the close of business on march 1 , 2018 . assuming we pay a quarterly dividend of $ 0.21 per share and there is no significant change in the number of outstanding shares as of december 31 , 2017 , we would expect to pay approximately $ 320.0 over the next twelve months. .
Question: in 2018 , how many approximate shares would have been held for the entire year to pay the approximate $ 320 in dividends over the 12 months?
Answer: | 380.95238 |
FINQA2956 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis liquidity risk management liquidity is of critical importance to financial institutions . most of the recent failures of financial institutions have occurred in large part due to insufficient liquidity . accordingly , the firm has in place a comprehensive and conservative set of liquidity and funding policies to address both firm-specific and broader industry or market liquidity events . our principal objective is to be able to fund the firm and to enable our core businesses to continue to serve clients and generate revenues , even under adverse circumstances . we manage liquidity risk according to the following principles : excess liquidity . we maintain substantial excess liquidity to meet a broad range of potential cash outflows and collateral needs in a stressed environment . asset-liability management . we assess anticipated holding periods for our assets and their expected liquidity in a stressed environment . we manage the maturities and diversity of our funding across markets , products and counterparties , and seek to maintain liabilities of appropriate tenor relative to our asset base . contingency funding plan . we maintain a contingency funding plan to provide a framework for analyzing and responding to a liquidity crisis situation or periods of market stress . this framework sets forth the plan of action to fund normal business activity in emergency and stress situations . these principles are discussed in more detail below . excess liquidity our most important liquidity policy is to pre-fund our estimated potential cash and collateral needs during a liquidity crisis and hold this excess liquidity in the form of unencumbered , highly liquid securities and cash . we believe that the securities held in our global core excess would be readily convertible to cash in a matter of days , through liquidation , by entering into repurchase agreements or from maturities of reverse repurchase agreements , and that this cash would allow us to meet immediate obligations without needing to sell other assets or depend on additional funding from credit-sensitive markets . as of december 2012 and december 2011 , the fair value of the securities and certain overnight cash deposits included in our gce totaled $ 174.62 billion and $ 171.58 billion , respectively . based on the results of our internal liquidity risk model , discussed below , as well as our consideration of other factors including , but not limited to , a qualitative assessment of the condition of the financial markets and the firm , we believe our liquidity position as of december 2012 was appropriate . the table below presents the fair value of the securities and certain overnight cash deposits that are included in our gce . average for the year ended december in millions 2012 2011 .
|in millions|average for theyear ended december 2012|average for theyear ended december 2011|
|u.s . dollar-denominated|$ 125111|$ 125668|
|non-u.s . dollar-denominated|46984|40291|
|total|$ 172095|$ 165959|
the u.s . dollar-denominated excess is composed of ( i ) unencumbered u.s . government and federal agency obligations ( including highly liquid u.s . federal agency mortgage-backed obligations ) , all of which are eligible as collateral in federal reserve open market operations and ( ii ) certain overnight u.s . dollar cash deposits . the non-u.s . dollar-denominated excess is composed of only unencumbered german , french , japanese and united kingdom government obligations and certain overnight cash deposits in highly liquid currencies . we strictly limit our excess liquidity to this narrowly defined list of securities and cash because they are highly liquid , even in a difficult funding environment . we do not include other potential sources of excess liquidity , such as less liquid unencumbered securities or committed credit facilities , in our gce . goldman sachs 2012 annual report 81 .
Question: what percentage of gce in 2011 is in non-u.s . dollar-denominated assets?
Answer: | 0.24278 |
FINQA2957 | Please answer the given financial question based on the context.
Context: part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities at january 25 , 2019 , we had 26812 holders of record of our common stock , par value $ 1 per share . our common stock is traded on the new york stock exchange ( nyse ) under the symbol lmt . information concerning dividends paid on lockheed martin common stock during the past two years is as follows : common stock - dividends paid per share .
|quarter|dividends paid per share 2018|dividends paid per share 2017|
|first|$ 2.00|$ 1.82|
|second|2.00|1.82|
|third|2.00|1.82|
|fourth|2.20|2.00|
|year|$ 8.20|$ 7.46|
stockholder return performance graph the following graph compares the total return on a cumulative basis of $ 100 invested in lockheed martin common stock on december 31 , 2013 to the standard and poor 2019s ( s&p ) 500 index and the s&p aerospace & defense index . the s&p aerospace & defense index comprises arconic inc. , general dynamics corporation , harris corporation , huntington ingalls industries , l3 technologies , inc. , lockheed martin corporation , northrop grumman corporation , raytheon company , textron inc. , the boeing company , transdigm group inc. , and united technologies corporation . the stockholder return performance indicated on the graph is not a guarantee of future performance. .
Question: what was the percentage increase in the dividends paid per share for the year from 2007 to 2008
Answer: | 0.0992 |
FINQA2958 | Please answer the given financial question based on the context.
Context: selling , general , and administrative expenses selling , general , and administrative expenses increased to $ 65.2 million in 2010 from $ 52.9 million in 2009 due primarily to increases in compensation expense and recruitment costs , principally in connection with higher headcount in 2010 , and an increase in non-cash compensation expense for the reasons described above . cost of goods sold cost of goods sold in 2010 and 2009 was $ 2.1 million and $ 1.7 million , respectively , and consisted primarily of royalties and other period costs related to arcalyst ae commercial supplies . to date , arcalyst ae shipments to our customers have primarily consisted of supplies of inventory manufactured and expensed as research and development costs prior to fda approval in 2008 ; therefore , the costs of these supplies were not included in costs of goods sold . other income and expense investment income decreased to $ 2.1 million in 2010 from $ 4.5 million in 2009 , due primarily to lower yields on , and lower average balances of , cash and marketable securities . interest expense increased to $ 9.1 million in 2010 from $ 2.3 million in 2009 . interest expense is primarily attributable to the imputed interest portion of payments to our landlord , commencing in the third quarter of 2009 , to lease newly constructed laboratory and office facilities in tarrytown , new york . income tax expense ( benefit ) in 2010 , we did not recognize any income tax expense or benefit . in 2009 , we recognized a $ 4.1 million income tax benefit , consisting primarily of ( i ) $ 2.7 million resulting from a provision in the worker , homeownership , and business assistance act of 2009 that allowed us to claim a refund of u.s . federal alternative minimum tax that we paid in 2008 , and ( ii ) $ 0.7 million resulting from a provision in the american recovery and reinvestment act of 2009 that allowed us to claim a refund for a portion of our unused pre-2006 research tax credits . years ended december 31 , 2009 and 2008 net loss regeneron reported a net loss of $ 67.8 million , or $ 0.85 per share ( basic and diluted ) , for the year ended december 31 , 2009 , compared to a net loss of $ 79.1 million , or $ 1.00 per share ( basic and diluted ) for 2008 . the decrease in our net loss in 2009 was principally due to higher collaboration revenue in connection with our antibody collaboration with sanofi-aventis , receipt of a $ 20.0 million substantive performance milestone payment in connection with our vegf trap-eye collaboration with bayer healthcare , and higher arcalyst ae sales , partly offset by higher research and development expenses , as detailed below . revenues revenues in 2009 and 2008 consist of the following: .
|( in millions )|2009|2008|
|collaboration revenue|||
|sanofi-aventis|$ 247.2|$ 154.0|
|bayer healthcare|67.3|31.2|
|total collaboration revenue|314.5|185.2|
|technology licensing revenue|40.0|40.0|
|net product sales|18.4|6.3|
|contract research and other revenue|6.4|7.0|
|total revenue|$ 379.3|$ 238.5|
.
Question: what percentage of total revenue was bayer healthcare in 2008?
Answer: | 0.13082 |
FINQA2959 | Please answer the given financial question based on the context.
Context: edwards lifesciences corporation notes to consolidated financial statements ( continued ) 7 . acquisitions ( continued ) transaction closed on january 23 , 2017 , and the consideration paid included the issuance of approximately 2.8 million shares of the company 2019s common stock ( fair value of $ 266.5 million ) and cash of $ 86.2 million . the company recognized in 201ccontingent consideration liabilities 201d a $ 162.9 million liability for the estimated fair value of the contingent milestone payments . the fair value of the contingent milestone payments will be remeasured each quarter , with changes in the fair value recognized within operating expenses on the consolidated statements of operations . for further information on the fair value of the contingent milestone payments , see note 10 . in connection with the acquisition , the company placed $ 27.6 million of the purchase price into escrow to satisfy any claims for indemnification made in accordance with the merger agreement . any funds remaining 15 months after the acquisition date will be disbursed to valtech 2019s former shareholders . acquisition-related costs of $ 0.6 million and $ 4.1 million were recorded in 201cselling , general , and administrative expenses 201d during the years ended december 31 , 2017 and 2016 , respectively . prior to the close of the transaction , valtech spun off its early- stage transseptal mitral valve replacement technology program . concurrent with the closing , the company entered into an agreement for an exclusive option to acquire that program and its associated intellectual property for approximately $ 200.0 million , subject to certain adjustments , plus an additional $ 50.0 million if a certain european regulatory approval is obtained within 10 years of the acquisition closing date . the option expires two years after the closing date of the transaction , but can be extended by up to one year depending on the results of certain clinical trials . valtech is a developer of a transcatheter mitral and tricuspid valve repair system . the company plans to add this technology to its portfolio of mitral and tricuspid repair products . the acquisition was accounted for as a business combination . tangible and intangible assets acquired were recorded based on their estimated fair values at the acquisition date . the excess of the purchase price over the fair value of net assets acquired was recorded to goodwill . the following table summarizes the fair values of the assets acquired and liabilities assumed ( in millions ) : .
|current assets|$ 22.7|
|property and equipment net|1.2|
|goodwill|316.5|
|developed technology|109.2|
|ipr&d|87.9|
|other assets|0.8|
|current liabilities assumed|-5.1 ( 5.1 )|
|deferred income taxes|-17.6 ( 17.6 )|
|total purchase price|515.6|
|less : cash acquired|-4.3 ( 4.3 )|
|total purchase price net of cash acquired|$ 511.3|
goodwill includes expected synergies and other benefits the company believes will result from the acquisition . goodwill was assigned to the company 2019s rest of world segment and is not deductible for tax purposes . ipr&d has been capitalized at fair value as an intangible asset with an indefinite life and will be assessed for impairment in subsequent periods . the fair value of the ipr&d was determined using the income approach . this approach determines fair value based on cash flow projections which are discounted to present value using a risk-adjusted rate of return . the discount rates used to determine the fair value of the ipr&d ranged from 18.0% ( 18.0 % ) to 20.0% ( 20.0 % ) . completion of successful design developments , bench testing , pre-clinical studies .
Question: what are current assets as a percentage of the total purchase price?
Answer: | 0.04403 |
FINQA2960 | Please answer the given financial question based on the context.
Context: note 17 . accumulated other comprehensive losses : pmi's accumulated other comprehensive losses , net of taxes , consisted of the following: .
|( losses ) earnings ( in millions )|( losses ) earnings 2014|( losses ) earnings 2013|2012|
|currency translation adjustments|$ -3929 ( 3929 )|$ -2207 ( 2207 )|$ -331 ( 331 )|
|pension and other benefits|-3020 ( 3020 )|-2046 ( 2046 )|-3365 ( 3365 )|
|derivatives accounted for as hedges|123|63|92|
|total accumulated other comprehensive losses|$ -6826 ( 6826 )|$ -4190 ( 4190 )|$ -3604 ( 3604 )|
reclassifications from other comprehensive earnings the movements in accumulated other comprehensive losses and the related tax impact , for each of the components above , that are due to current period activity and reclassifications to the income statement are shown on the consolidated statements of comprehensive earnings for the years ended december 31 , 2014 , 2013 , and 2012 . the movement in currency translation adjustments for the year ended december 31 , 2013 , was also impacted by the purchase of the remaining shares of the mexican tobacco business . in addition , $ 5 million and $ 12 million of net currency translation adjustment gains were transferred from other comprehensive earnings to marketing , administration and research costs in the consolidated statements of earnings for the years ended december 31 , 2014 and 2013 , respectively , upon liquidation of a subsidiary . for additional information , see note 13 . benefit plans and note 15 . financial instruments for disclosures related to pmi's pension and other benefits and derivative financial instruments . note 18 . colombian investment and cooperation agreement : on june 19 , 2009 , pmi announced that it had signed an agreement with the republic of colombia , together with the departments of colombia and the capital district of bogota , to promote investment and cooperation with respect to the colombian tobacco market and to fight counterfeit and contraband tobacco products . the investment and cooperation agreement provides $ 200 million in funding to the colombian governments over a 20-year period to address issues of mutual interest , such as combating the illegal cigarette trade , including the threat of counterfeit tobacco products , and increasing the quality and quantity of locally grown tobacco . as a result of the investment and cooperation agreement , pmi recorded a pre-tax charge of $ 135 million in the operating results of the latin america & canada segment during the second quarter of 2009 . at december 31 , 2014 and 2013 , pmi had $ 71 million and $ 74 million , respectively , of discounted liabilities associated with the colombian investment and cooperation agreement . these discounted liabilities are primarily reflected in other long-term liabilities on the consolidated balance sheets and are expected to be paid through 2028 . note 19 . rbh legal settlement : on july 31 , 2008 , rothmans inc . ( "rothmans" ) announced the finalization of a cad 550 million settlement ( or approximately $ 540 million , based on the prevailing exchange rate at that time ) between itself and rothmans , benson & hedges inc . ( "rbh" ) , on the one hand , and the government of canada and all 10 provinces , on the other hand . the settlement resolved the royal canadian mounted police's investigation relating to products exported from canada by rbh during the 1989-1996 period . rothmans' sole holding was a 60% ( 60 % ) interest in rbh . the remaining 40% ( 40 % ) interest in rbh was owned by pmi. .
Question: what was the change in total accumulated other comprehensive losses in millions from 2013 to 2014?
Answer: | -2636.0 |
FINQA2961 | Please answer the given financial question based on the context.
Context: we believe that the presentation of adjusted diluted earnings per share , which excludes withdrawal costs 2013 multiemployer pension funds , restructuring charges , loss on extinguishment of debt , and ( gain ) loss on business dispositions and impairments , net , provides an understanding of operational activities before the financial effect of certain items . we use this measure , and believe investors will find it helpful , in understanding the ongoing performance of our operations separate from items that have a disproportionate effect on our results for a particular period . we have incurred comparable charges and costs in prior periods , and similar types of adjustments can reasonably be expected to be recorded in future periods . our definition of adjusted diluted earnings per share may not be comparable to similarly titled measures presented by other companies . property and equipment , net in 2017 , we anticipate receiving approximately $ 975 million of property and equipment , net of proceeds from sales of property and equipment , as follows: .
|trucks and equipment|$ 350|
|landfill|330|
|containers|160|
|facilities and other|150|
|property and equipment received during 2017|990|
|proceeds from sales of property and equipment|-15 ( 15 )|
|property and equipment received net of proceeds during 2017|$ 975|
results of operations revenue we generate revenue primarily from our solid waste collection operations . our remaining revenue is from other services , including transfer station , landfill disposal , recycling , and energy services . our residential and small- container commercial collection operations in some markets are based on long-term contracts with municipalities . certain of our municipal contracts have annual price escalation clauses that are tied to changes in an underlying base index such as a consumer price index . we generally provide small-container commercial and large-container industrial collection services to customers under contracts with terms up to three years . our transfer stations , landfills and , to a lesser extent , our recycling facilities generate revenue from disposal or tipping fees charged to third parties . in general , we integrate our recycling operations with our collection operations and obtain revenue from the sale of recycled commodities . our revenue from energy services consists mainly of fees we charge for the treatment of liquid and solid waste derived from the production of oil and natural gas . other revenue consists primarily of revenue from national accounts , which represents the portion of revenue generated from nationwide or regional contracts in markets outside our operating areas where the associated waste handling services are subcontracted to local operators . consequently , substantially all of this revenue is offset with related subcontract costs , which are recorded in cost of operations. .
Question: as part of the sales proceeds net what was the ratio of trucks and equipment to the containers
Answer: | 2.1875 |
FINQA2962 | Please answer the given financial question based on the context.
Context: on the underlying exposure . for derivative contracts that are designated and qualify as cash fl ow hedges , the effective portion of gains and losses on these contracts is reported as a component of other comprehensive income and reclassifi ed into earnings in the same period the hedged transaction affects earnings . hedge ineffectiveness is immediately recognized in earnings . derivative contracts that are not designated as hedging instruments are recorded at fair value with the gain or loss recognized in current earnings during the period of change . we may enter into foreign currency forward and option contracts to reduce the effect of fl uctuating currency exchange rates ( principally the euro , the british pound , and the japanese yen ) . foreign currency derivatives used for hedging are put in place using the same or like currencies and duration as the underlying exposures . forward contracts are principally used to manage exposures arising from subsidiary trade and loan payables and receivables denominated in foreign currencies . these contracts are recorded at fair value with the gain or loss recognized in other 2014net . the purchased option contracts are used to hedge anticipated foreign currency transactions , primarily intercompany inventory activities expected to occur within the next year . these contracts are designated as cash fl ow hedges of those future transactions and the impact on earnings is included in cost of sales . we may enter into foreign currency forward contracts and currency swaps as fair value hedges of fi rm commitments . forward and option contracts generally have maturities not exceeding 12 months . in the normal course of business , our operations are exposed to fl uctuations in interest rates . these fl uctuations can vary the costs of fi nancing , investing , and operating . we address a portion of these risks through a controlled program of risk management that includes the use of derivative fi nancial instruments . the objective of controlling these risks is to limit the impact of fl uctuations in interest rates on earnings . our primary interest rate risk exposure results from changes in short-term u.s . dollar interest rates . in an effort to manage interest rate exposures , we strive to achieve an acceptable balance between fi xed and fl oating rate debt and investment positions and may enter into interest rate swaps or collars to help maintain that balance . interest rate swaps or collars that convert our fi xed- rate debt or investments to a fl oating rate are designated as fair value hedges of the underlying instruments . interest rate swaps or collars that convert fl oating rate debt or investments to a fi xed rate are designated as cash fl ow hedg- es . interest expense on the debt is adjusted to include the payments made or received under the swap agreements . goodwill and other intangibles : goodwill is not amortized . all other intangibles arising from acquisitions and research alliances have fi nite lives and are amortized over their estimated useful lives , ranging from 5 to 20 years , using the straight-line method . the weighted-average amortization period for developed product technology is approximately 12 years . amortization expense for 2008 , 2007 , and 2006 was $ 193.4 million , $ 172.8 million , and $ 7.6 million before tax , respectively . the estimated amortization expense for each of the fi ve succeeding years approximates $ 280 million before tax , per year . substantially all of the amortization expense is included in cost of sales . see note 3 for further discussion of goodwill and other intangibles acquired in 2008 and 2007 . goodwill and other intangible assets at december 31 were as follows: .
||2008|2007|
|goodwill|$ 1167.5|$ 745.7|
|developed product technology 2014 gross|3035.4|1767.5|
|less accumulated amortization|-346.6 ( 346.6 )|-162.6 ( 162.6 )|
|developed product technology 2014 net|2688.8|1604.9|
|other intangibles 2014 gross|243.2|142.8|
|less accumulated amortization|-45.4 ( 45.4 )|-38.0 ( 38.0 )|
|other intangibles 2014 net|197.8|104.8|
|total intangibles 2014 net|$ 4054.1|$ 2455.4|
goodwill and net other intangibles are reviewed to assess recoverability at least annually and when certain impairment indicators are present . no signifi cant impairments occurred with respect to the carrying value of our goodwill or other intangible assets in 2008 , 2007 , or 2006 . property and equipment : property and equipment is stated on the basis of cost . provisions for depreciation of buildings and equipment are computed generally by the straight-line method at rates based on their estimated useful lives ( 12 to 50 years for buildings and 3 to 18 years for equipment ) . we review the carrying value of long-lived assets for potential impairment on a periodic basis and whenever events or changes in circumstances indicate the .
Question: what was the percent of increase in the amortization expense from 2007 to 2008
Answer: | 0.11921 |
FINQA2963 | Please answer the given financial question based on the context.
Context: december 18 , 2007 , we issued an additional 23182197 shares of common stock to citadel . the issuances were exempt from registration pursuant to section 4 ( 2 ) of the securities act of 1933 , and each purchaser has represented to us that it is an 201caccredited investor 201d as defined in regulation d promulgated under the securities act of 1933 , and that the common stock was being acquired for investment . we did not engage in a general solicitation or advertising with regard to the issuances of the common stock and have not offered securities to the public in connection with the issuances . see item 1 . business 2014citadel investment . performance graph the following performance graph shows the cumulative total return to a holder of the company 2019s common stock , assuming dividend reinvestment , compared with the cumulative total return , assuming dividend reinvestment , of the standard & poor 2019s ( 201cs&p 201d ) 500 and the s&p super cap diversified financials during the period from december 31 , 2002 through december 31 , 2007. .
||12/02|12/03|12/04|12/05|12/06|12/07|
|e*trade financial corporation|100.00|260.29|307.61|429.22|461.32|73.05|
|s&p 500|100.00|128.68|142.69|149.70|173.34|182.87|
|s&p super cap diversified financials|100.00|139.29|156.28|170.89|211.13|176.62|
2022 $ 100 invested on 12/31/02 in stock or index-including reinvestment of dividends . fiscal year ending december 31 . 2022 copyright a9 2008 , standard & poor 2019s , a division of the mcgraw-hill companies , inc . all rights reserved . www.researchdatagroup.com/s&p.htm .
Question: as of december 2007 what was the ratio of the ratio of the cumulative total return for s&p 500 to the e*trade financial corporation
Answer: | 2.50335 |
FINQA2964 | Please answer the given financial question based on the context.
Context: notes to the consolidated financial statements on march 18 , 2008 , ppg completed a public offering of $ 600 million in aggregate principal amount of its 5.75% ( 5.75 % ) notes due 2013 ( the 201c2013 notes 201d ) , $ 700 million in aggregate principal amount of its 6.65% ( 6.65 % ) notes due 2018 ( the 201c2018 notes 201d ) and $ 250 million in aggregate principal amount of its 7.70% ( 7.70 % ) notes due 2038 ( the 201c2038 notes 201d and , together with the 2013 notes and the 2018 notes , the 201cnotes 201d ) . the notes were offered by the company pursuant to its existing shelf registration . the proceeds of this offering of $ 1538 million ( net of discount and issuance costs ) and additional borrowings of $ 195 million under the 20ac650 million revolving credit facility were used to repay existing debt , including certain short-term debt and the amounts outstanding under the 20ac1 billion bridge loan . no further amounts can be borrowed under the 20ac1 billion bridge loan . the discount and issuance costs related to the notes , which totaled $ 12 million , will be amortized to interest expense over the respective lives of the notes . short-term debt outstanding as of december 31 , 2008 and 2007 , was as follows : ( millions ) 2008 2007 .
|( millions )|2008|2007|
|20ac1 billion bridge loan agreement 5.2% ( 5.2 % )|$ 2014|$ 1047|
|u.s . commercial paper 5.3% ( 5.3 % ) as of dec . 31 2008|222|617|
|20ac650 million revolving credit facility weighted average 2.9% ( 2.9 % ) as of dec . 31 2008 ( 1 )|200|2014|
|other weighted average 4.0% ( 4.0 % ) as of dec . 31 2008|362|154|
|total|$ 784|$ 1818|
total $ 784 $ 1818 ( 1 ) borrowings under this facility have a term of 30 days and can be rolled over monthly until the facility expires in 2010 . ppg is in compliance with the restrictive covenants under its various credit agreements , loan agreements and indentures . the company 2019s revolving credit agreements include a financial ratio covenant . the covenant requires that the amount of total indebtedness not exceed 60% ( 60 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments . as of december 31 , 2008 , total indebtedness was 45% ( 45 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments . additionally , substantially all of the company 2019s debt agreements contain customary cross- default provisions . those provisions generally provide that a default on a debt service payment of $ 10 million or more for longer than the grace period provided ( usually 10 days ) under one agreement may result in an event of default under other agreements . none of the company 2019s primary debt obligations are secured or guaranteed by the company 2019s affiliates . interest payments in 2008 , 2007 and 2006 totaled $ 228 million , $ 102 million and $ 90 million , respectively . rental expense for operating leases was $ 267 million , $ 188 million and $ 161 million in 2008 , 2007 and 2006 , respectively . the primary leased assets include paint stores , transportation equipment , warehouses and other distribution facilities , and office space , including the company 2019s corporate headquarters located in pittsburgh , pa . minimum lease commitments for operating leases that have initial or remaining lease terms in excess of one year as of december 31 , 2008 , are ( in millions ) $ 126 in 2009 , $ 107 in 2010 , $ 82 in 2011 , $ 65 in 2012 , $ 51 in 2013 and $ 202 thereafter . the company had outstanding letters of credit of $ 82 million as of december 31 , 2008 . the letters of credit secure the company 2019s performance to third parties under certain self-insurance programs and other commitments made in the ordinary course of business . as of december 31 , 2008 and 2007 guarantees outstanding were $ 70 million . the guarantees relate primarily to debt of certain entities in which ppg has an ownership interest and selected customers of certain of the company 2019s businesses . a portion of such debt is secured by the assets of the related entities . the carrying values of these guarantees were $ 9 million and $ 3 million as of december 31 , 2008 and 2007 , respectively , and the fair values were $ 40 million and $ 17 million , as of december 31 , 2008 and 2007 , respectively . the company does not believe any loss related to these letters of credit or guarantees is likely . 10 . financial instruments , excluding derivative financial instruments included in ppg 2019s financial instrument portfolio are cash and cash equivalents , cash held in escrow , marketable equity securities , company-owned life insurance and short- and long-term debt instruments . the fair values of the financial instruments approximated their carrying values , in the aggregate , except for long-term long-term debt ( excluding capital lease obligations ) , had carrying and fair values totaling $ 3122 million and $ 3035 million , respectively , as of december 31 , 2008 . the corresponding amounts as of december 31 , 2007 , were $ 1201 million and $ 1226 million , respectively . the fair values of the debt instruments were based on discounted cash flows and interest rates currently available to the company for instruments of the same remaining maturities . 2008 ppg annual report and form 10-k 45 .
Question: as of december 31 , 2008 , what would be the cash flow impact if the guarantees and letters of credit were called , in millions?
Answer: | 152.0 |
FINQA2965 | Please answer the given financial question based on the context.
Context: item 7 . management 2019s discussion and analysis of financial condition and results of operations the following discussion and analysis is based primarily on the consolidated financial statements of welltower inc . presented in conformity with u.s . generally accepted accounting principles ( 201cu.s . gaap 201d ) for the periods presented and should be read together with the notes thereto contained in this annual report on form 10-k . other important factors are identified in 201citem 1 2014 business 201d and 201citem 1a 2014 risk factors 201d above . executive summary company overview welltower inc . ( nyse:well ) , an s&p 500 company headquartered in toledo , ohio , is driving the transformation of health care infrastructure . the company invests with leading seniors housing operators , post- acute providers and health systems to fund the real estate and infrastructure needed to scale innovative care delivery models and improve people 2019s wellness and overall health care experience . welltowertm , a real estate investment trust ( 201creit 201d ) , owns interests in properties concentrated in major , high-growth markets in the united states ( 201cu.s . 201d ) , canada and the united kingdom ( 201cu.k . 201d ) , consisting of seniors housing and post-acute communities and outpatient medical properties . our capital programs , when combined with comprehensive planning , development and property management services , make us a single-source solution for acquiring , planning , developing , managing , repositioning and monetizing real estate assets . the following table summarizes our consolidated portfolio for the year ended december 31 , 2017 ( dollars in thousands ) : type of property noi ( 1 ) percentage of number of properties .
|type of property|noi ( 1 )|percentage of noi|number of properties|
|triple-net|$ 967084|43.3% ( 43.3 % )|573|
|seniors housing operating|880026|39.5% ( 39.5 % )|443|
|outpatient medical|384068|17.2% ( 17.2 % )|270|
|totals|$ 2231178|100.0% ( 100.0 % )|1286|
( 1 ) represents consolidated noi and excludes our share of investments in unconsolidated entities . entities in which we have a joint venture with a minority partner are shown at 100% ( 100 % ) of the joint venture amount . see non-gaap financial measures for additional information and reconciliation . business strategy our primary objectives are to protect stockholder capital and enhance stockholder value . we seek to pay consistent cash dividends to stockholders and create opportunities to increase dividend payments to stockholders as a result of annual increases in net operating income and portfolio growth . to meet these objectives , we invest across the full spectrum of seniors housing and health care real estate and diversify our investment portfolio by property type , relationship and geographic location . substantially all of our revenues are derived from operating lease rentals , resident fees/services , and interest earned on outstanding loans receivable . these items represent our primary sources of liquidity to fund distributions and depend upon the continued ability of our obligors to make contractual rent and interest payments to us and the profitability of our operating properties . to the extent that our obligors/partners experience operating difficulties and become unable to generate sufficient cash to make payments or operating distributions to us , there could be a material adverse impact on our consolidated results of operations , liquidity and/or financial condition . to mitigate this risk , we monitor our investments through a variety of methods determined by the type of property . our asset management process for seniors housing properties generally includes review of monthly financial statements and other operating data for each property , review of obligor/ partner creditworthiness , property inspections , and review of covenant compliance relating to licensure , real estate taxes , letters of credit and other collateral . our internal property management division manages and monitors the outpatient medical portfolio with a comprehensive process including review of tenant relations .
Question: what portion of the total number of properties is related to triple-net?
Answer: | 0.44557 |
FINQA2966 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2014 ( continued ) company 2019s financial statements and establishes guidelines for recognition and measurement of a tax position taken or expected to be taken in a tax return . as a result of this adoption , we recorded a $ 1.5 million increase in the liability for unrecognized income tax benefits , which was accounted for as a $ 1.0 million reduction to the june 1 , 2007 balance of retained earnings and a $ 0.5 million reduction to the june 1 , 2007 balance of additional paid-in capital . as of the adoption date , other long-term liabilities included liabilities for unrecognized income tax benefits of $ 3.8 million and accrued interest and penalties of $ 0.7 million . a reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows ( in thousands ) : .
|balance at june 1 2007|$ 3760|
|additions based on tax positions related to the current year|93|
|additions for tax positions of prior years|50|
|reductions for tax positions of prior years|2014|
|settlements with taxing authorities|-190 ( 190 )|
|balance at may 31 2008|$ 3713|
as of may 31 , 2008 , the total amount of gross unrecognized tax benefits that , if recognized , would affect the effective tax rate is $ 3.7 million . we recognize accrued interest related to unrecognized income tax benefits in interest expense and accrued penalty expense related to unrecognized tax benefits in sales , general and administrative expenses . during fiscal 2008 , we recorded $ 0.3 million of accrued interest and penalty expense related to the unrecognized income tax benefits . we anticipate the total amount of unrecognized income tax benefits will decrease by $ 1.1 million net of interest and penalties from our foreign operations within the next 12 months as a result of the expiration of the statute of limitations . we conduct business globally and file income tax returns in the united states federal jurisdiction and various state and foreign jurisdictions . in the normal course of business , we are subject to examination by taxing authorities throughout the world , including such major jurisdictions as the united states and canada . with few exceptions , we are no longer subject to income tax examinations for years ended may 31 , 2003 and prior . we are currently under audit by the internal revenue service of the united states for the 2004 to 2005 tax years . we expect that the examination phase of the audit for the years 2004 to 2005 will conclude in fiscal 2009 . note 8 2014shareholders 2019 equity on april 5 , 2007 , our board of directors approved a share repurchase program that authorized the purchase of up to $ 100 million of global payments 2019 stock in the open market or as otherwise may be determined by us , subject to market conditions , business opportunities , and other factors . under this authorization , we repurchased 2.3 million shares of our common stock during fiscal 2008 at a cost of $ 87.0 million , or an average of $ 37.85 per share , including commissions . as of may 31 , 2008 , we had $ 13.0 million remaining under our current share repurchase authorization . no amounts were repurchased during fiscal 2007 . note 9 2014share-based awards and options as of may 31 , 2008 , we had four share-based employee compensation plans . for all share-based awards granted after june 1 , 2006 , compensation expense is recognized on a straight-line basis . the fair value of share- based awards granted prior to june 1 , 2006 is amortized as compensation expense on an accelerated basis from the date of the grant . there was no share-based compensation capitalized during fiscal 2008 , 2007 , and 2006. .
Question: what is the number of remaining shares under the repurchase authorization , assuming an average share price of $ 37.85?
Answer: | 343461.03038 |
FINQA2967 | Please answer the given financial question based on the context.
Context: 12 . brokerage receivables and brokerage payables citi has receivables and payables for financial instruments sold to and purchased from brokers , dealers and customers , which arise in the ordinary course of business . citi is exposed to risk of loss from the inability of brokers , dealers or customers to pay for purchases or to deliver the financial instruments sold , in which case citi would have to sell or purchase the financial instruments at prevailing market prices . credit risk is reduced to the extent that an exchange or clearing organization acts as a counterparty to the transaction and replaces the broker , dealer or customer in question . citi seeks to protect itself from the risks associated with customer activities by requiring customers to maintain margin collateral in compliance with regulatory and internal guidelines . margin levels are monitored daily , and customers deposit additional collateral as required . where customers cannot meet collateral requirements , citi may liquidate sufficient underlying financial instruments to bring the customer into compliance with the required margin level . exposure to credit risk is impacted by market volatility , which may impair the ability of clients to satisfy their obligations to citi . credit limits are established and closely monitored for customers and for brokers and dealers engaged in forwards , futures and other transactions deemed to be credit sensitive . brokerage receivables and brokerage payables consisted of the following: .
|in millions of dollars|december 31 , 2016|december 31 , 2015|
|receivables from customers|$ 10374|$ 10435|
|receivables from brokers dealers and clearing organizations|18513|17248|
|total brokerage receivables ( 1 )|$ 28887|$ 27683|
|payables to customers|$ 37237|$ 35653|
|payables to brokers dealers and clearing organizations|19915|18069|
|total brokerage payables ( 1 )|$ 57152|$ 53722|
payables to brokers , dealers , and clearing organizations 19915 18069 total brokerage payables ( 1 ) $ 57152 $ 53722 ( 1 ) includes brokerage receivables and payables recorded by citi broker- dealer entities that are accounted for in accordance with the aicpa accounting guide for brokers and dealers in securities as codified in asc 940-320. .
Question: as of december 31 , 2016 what was the ratio of receivables from brokers dealers and clearing organizations to payables to brokers dealers and clearing organizations?
Answer: | 0.9296 |
FINQA2968 | Please answer the given financial question based on the context.
Context: 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|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|
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. .
Question: what is the growth rate in operating profit for aeronautics in 2012?
Answer: | 0.04233 |
FINQA2969 | Please answer the given financial question based on the context.
Context: note 4 - goodwill and other intangible assets : goodwill the company had approximately $ 93.2 million and $ 94.4 million of goodwill at december 30 , 2017 and december 31 , 2016 , respectively . the changes in the carrying amount of goodwill for the years ended december 30 , 2017 and december 31 , 2016 are as follows ( in thousands ) : .
||2017|2016|
|balance beginning of year|$ 94417|$ 10258|
|goodwill acquired as part of acquisition|2014|84159|
|working capital settlement|-1225 ( 1225 )|2014|
|impairment loss|2014|2014|
|balance end of year|$ 93192|$ 94417|
goodwill is allocated to each identified reporting unit , which is defined as an operating segment or one level below the operating segment . goodwill is not amortized , but is evaluated for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable . the company completes its impairment evaluation by performing valuation analyses and considering other publicly available market information , as appropriate . the test used to identify the potential for goodwill impairment compares the fair value of a reporting unit with its carrying value . an impairment charge would be recorded to the company 2019s operations for the amount , if any , in which the carrying value exceeds the fair value . in the fourth quarter of fiscal 2017 , the company completed its annual impairment testing of goodwill and no impairment was identified . the company determined that the fair value of each reporting unit ( including goodwill ) was in excess of the carrying value of the respective reporting unit . in reaching this conclusion , the fair value of each reporting unit was determined based on either a market or an income approach . under the market approach , the fair value is based on observed market data . other intangible assets the company had approximately $ 31.3 million of intangible assets other than goodwill at december 30 , 2017 and december 31 , 2016 . the intangible asset balance represents the estimated fair value of the petsense tradename , which is not subject to amortization as it has an indefinite useful life on the basis that it is expected to contribute cash flows beyond the foreseeable horizon . with respect to intangible assets , we evaluate for impairment annually and whenever events or changes in circumstances indicate that the carrying value may not be recoverable . we recognize an impairment loss only if the carrying amount is not recoverable through its discounted cash flows and measure the impairment loss based on the difference between the carrying value and fair value . in the fourth quarter of fiscal 2017 , the company completed its annual impairment testing of intangible assets and no impairment was identified. .
Question: how much is the goodwill worth in 2016 if the intangible assets are worth $ 31.1 million?
Answer: | 63.1 |
FINQA2970 | Please answer the given financial question based on the context.
Context: considered to be the primary beneficiary of either entity and have therefore deconsolidated both entities . at december 31 , 2010 , we held a 36% ( 36 % ) interest in juniperus which is accounted for using the equity method of accounting . our potential loss at december 31 , 2010 is limited to our investment of $ 73 million in juniperus , which is recorded in investments in the consolidated statements of financial position . we have not provided any financing to juniperus other than previously contractually required amounts . juniperus and jchl had combined assets and liabilities of $ 121 million and $ 22 million , respectively , at december 31 , 2008 . for the year ended december 31 , 2009 , we recognized $ 36 million of pretax income from juniperus and jchl . we recognized $ 16 million of after-tax income , after allocating the appropriate share of net income to the non-controlling interests . we previously owned an 85% ( 85 % ) economic equity interest in globe re limited ( 2018 2018globe re 2019 2019 ) , a vie , which provided reinsurance coverage for a defined portfolio of property catastrophe reinsurance contracts underwritten by a third party for a limited period which ended june 1 , 2009 . we consolidated globe re as we were deemed to be the primary beneficiary . in connection with the winding up of its operations , globe re repaid its $ 100 million of short-term debt and our equity investment from available cash in 2009 . we recognized $ 2 million of after-tax income from globe re in 2009 , taking into account the share of net income attributable to non-controlling interests . globe re was fully liquidated in the third quarter of 2009 . review by segment general we serve clients through the following segments : 2022 risk solutions ( formerly risk and insurance brokerage services ) acts as an advisor and insurance and reinsurance broker , helping clients manage their risks , via consultation , as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network . 2022 hr solutions ( formerly consulting ) partners with organizations to solve their most complex benefits , talent and related financial challenges , and improve business performance by designing , implementing , communicating and administering a wide range of human capital , retirement , investment management , health care , compensation and talent management strategies . risk solutions .
|years ended december 31,|2010|2009|2008|
|revenue|$ 6423|$ 6305|$ 6197|
|operating income|1194|900|846|
|operating margin|18.6% ( 18.6 % )|14.3% ( 14.3 % )|13.7% ( 13.7 % )|
the demand for property and casualty insurance generally rises as the overall level of economic activity increases and generally falls as such activity decreases , affecting both the commissions and fees generated by our brokerage business . the economic activity that impacts property and casualty insurance is described as exposure units , and is most closely correlated with employment levels , corporate revenue and asset values . during 2010 we continued to see a 2018 2018soft market 2019 2019 , which began in 2007 , in our retail brokerage product line . in a soft market , premium rates flatten or decrease , along with commission revenues , due to increased competition for market share among insurance carriers or increased underwriting capacity . changes in premiums have a direct and potentially material impact on the insurance brokerage industry , as commission revenues are generally based on a percentage of the .
Question: what are the total operating expenses for 2015?
Answer: | 5229.0 |
FINQA2971 | Please answer the given financial question based on the context.
Context: affiliated company . the loss recorded on the sale was approximately $ 14 million and is recorded as a loss on sale of assets and asset impairment expenses in the accompanying consolidated statements of operations . in the second quarter of 2002 , the company recorded an impairment charge of approximately $ 40 million , after income taxes , on an equity method investment in a telecommunications company in latin america held by edc . the impairment charge resulted from sustained poor operating performance coupled with recent funding problems at the invested company . during 2001 , the company lost operational control of central electricity supply corporation ( 2018 2018cesco 2019 2019 ) , a distribution company located in the state of orissa , india . cesco is accounted for as a cost method investment . in may 2000 , the company completed the acquisition of 100% ( 100 % ) of tractebel power ltd ( 2018 2018tpl 2019 2019 ) for approximately $ 67 million and assumed liabilities of approximately $ 200 million . tpl owned 46% ( 46 % ) of nigen . the company also acquired an additional 6% ( 6 % ) interest in nigen from minority stockholders during the year ended december 31 , 2000 through the issuance of approximately 99000 common shares of aes stock valued at approximately $ 4.9 million . with the completion of these transactions , the company owns approximately 98% ( 98 % ) of nigen 2019s common stock and began consolidating its financial results beginning may 12 , 2000 . approximately $ 100 million of the purchase price was allocated to excess of costs over net assets acquired and was amortized through january 1 , 2002 at which time the company adopted sfas no . 142 and ceased amortization of goodwill . in august 2000 , a subsidiary of the company acquired a 49% ( 49 % ) interest in songas limited ( 2018 2018songas 2019 2019 ) for approximately $ 40 million . the company acquired an additional 16.79% ( 16.79 % ) of songas for approximately $ 12.5 million , and the company began consolidating this entity in 2002 . songas owns the songo songo gas-to-electricity project in tanzania . in december 2002 , the company signed a sales purchase agreement to sell songas . the sale is expected to close in early 2003 . see note 4 for further discussion of the transaction . the following table presents summarized comparative financial information ( in millions ) for the company 2019s investments in 50% ( 50 % ) or less owned investments accounted for using the equity method. .
|as of and for the years ended december 31,|2002|2001|2000|
|revenues|$ 2832|$ 6147|$ 6241|
|operating income|695|1717|1989|
|net income|229|650|859|
|current assets|1097|3700|2423|
|noncurrent assets|6751|14942|13080|
|current liabilities|1418|3510|3370|
|noncurrent liabilities|3349|8297|5927|
|stockholder's equity|3081|6835|6206|
in 2002 , 2001 and 2000 , the results of operations and the financial position of cemig were negatively impacted by the devaluation of the brazilian real and the impairment charge recorded in 2002 . the brazilian real devalued 32% ( 32 % ) , 19% ( 19 % ) and 8% ( 8 % ) for the years ended december 31 , 2002 , 2001 and 2000 , respectively . the company recorded $ 83 million , $ 210 million , and $ 64 million of pre-tax non-cash foreign currency transaction losses on its investments in brazilian equity method affiliates during 2002 , 2001 and 2000 , respectively. .
Question: what was the percentage change in revenues for investments in 50% ( 50 % ) or less owned investments accounted for using the equity method between 2000 and 2001?
Answer: | -0.01506 |
FINQA2972 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements ( dollars in millions , except per share amounts ) long-term debt maturing over the next five years and thereafter is as follows: .
|2004|$ 244.5|
|2005|$ 523.8|
|2006|$ 338.5|
|2007|$ 0.9|
|2008|$ 0.9|
|2009 and thereafter|$ 1327.6|
on march 7 , 2003 , standard & poor's ratings services downgraded the company's senior secured credit rating to bb+ with negative outlook from bbb- . on may 14 , 2003 , fitch ratings downgraded the company's senior unsecured credit rating to bb+ with negative outlook from bbb- . on may 9 , 2003 , moody's investor services , inc . ( "moody's" ) placed the company's senior unsecured and subordinated credit ratings on review for possible downgrade from baa3 and ba1 , respectively . as of march 12 , 2004 , the company's credit ratings continued to be on review for a possible downgrade . since july 2001 , the company has not repurchased its common stock in the open market . in october 2003 , the company received a federal tax refund of approximately $ 90 as a result of its carryback of its 2002 loss for us federal income tax purposes and certain capital losses , to earlier periods . through december 2002 , the company had paid cash dividends quarterly with the most recent quarterly dividend paid in december 2002 at a rate of $ 0.095 per share . on a quarterly basis , the company's board of directors makes determinations regarding the payment of dividends . as previously discussed , the company's ability to declare or pay dividends is currently restricted by the terms of its revolving credit facilities . the company did not declare or pay any dividends in 2003 . however , in 2004 , the company expects to pay any dividends accruing on the series a mandatory convertible preferred stock in cash , which is expressly permitted by the revolving credit facilities . see note 14 for discussion of fair market value of the company's long-term debt . note 9 : equity offering on december 16 , 2003 , the company sold 25.8 million shares of common stock and issued 7.5 million shares of 3- year series a mandatory convertible preferred stock ( the "preferred stock" ) . the total net proceeds received from the concurrent offerings was approximately $ 693 . the preferred stock carries a dividend yield of 5.375% ( 5.375 % ) . on maturity , each share of the preferred stock will convert , subject to adjustment , to between 3.0358 and 3.7037 shares of common stock , depending on the then-current market price of the company's common stock , representing a conversion premium of approximately 22% ( 22 % ) over the stock offering price of $ 13.50 per share . under certain circumstances , the preferred stock may be converted prior to maturity at the option of the holders or the company . the common and preferred stock were issued under the company's existing shelf registration statement . in january 2004 , the company used approximately $ 246 of the net proceeds from the offerings to redeem the 1.80% ( 1.80 % ) convertible subordinated notes due 2004 . the remaining proceeds will be used for general corporate purposes and to further strengthen the company's balance sheet and financial condition . the company will pay annual dividends on each share of the series a mandatory convertible preferred stock in the amount of $ 2.6875 . dividends will be cumulative from the date of issuance and will be payable on each payment date to the extent that dividends are not restricted under the company's credit facilities and assets are legally available to pay dividends . the first dividend payment , which was declared on february 24 , 2004 , will be made on march 15 , 2004. .
Question: how much percentage has long-term debt gone down from 2004 to 2008?
Answer: | 0.99632 |
FINQA2973 | Please answer the given financial question based on the context.
Context: in july 2006 , the fasb issued fin 48 which clarifies the accounting for income taxes by prescribing the minimum recognition threshold a tax position is required to meet before being recognized in the financial statements . fin 48 also provides guidance on derecognition , measurement , classification , interest and penalties , accounting in interim periods and transition , and required expanded disclosure with respect to the uncertainty in income taxes . we adopted the provisions of fin 48 effective january 1 , 2007 . a reconciliation of the beginning and ending amount of gross unrecognized tax benefits for the years ended december 31 is as follows ( in millions ) : .
||2008|2007|
|balance at beginning of year|$ 23.2|$ 56.4|
|additions due to acquisition of allied|582.9|2014|
|additions based on tax positions related to current year|10.6|16.3|
|reductions for tax positions related to the current year|-5.1 ( 5.1 )|-17.2 ( 17.2 )|
|additions for tax positions of prior years|2.0|2.0|
|reductions for tax positions of prior years|-1.3 ( 1.3 )|-12.3 ( 12.3 )|
|reductions for tax positions resulting from lapse of statute of limitations|-.4 ( .4 )|-.4 ( .4 )|
|settlements|2014|-21.6 ( 21.6 )|
|balance at end of year|$ 611.9|$ 23.2|
included in the balance at december 31 , 2008 and 2007 are approximately $ 461.0 million and $ 7.7 million , respectively , of unrecognized tax benefits ( net of the federal benefit on state issues ) that , if recognized , would affect the effective income tax rate in future periods . sfas 141 ( r ) is effective for financial statements issued for fiscal years beginning after december 15 , 2008 . sfas 141 ( r ) significantly changes the treatment of acquired uncertain tax liabilities . under sfas 141 , changes in acquired uncertain tax liabilities were recognized through goodwill . under sfas 141 ( r ) , changes in acquired unrecognized tax liabilities are recognized through the income tax provision . as of december 31 , 2008 , $ 582.9 million of the $ 611.9 million of unrecognized tax benefits related to tax positions allied had taken prior to the merger . of the $ 582.9 million of acquired unrecognized benefits , $ 449.6 million , if recognized in the income tax provision , would affect our effective tax rate . we recognize interest and penalties as incurred within the provision for income taxes in the consolidated statements of income . related to the unrecognized tax benefits noted above , we accrued penalties of $ .2 million and interest of $ 5.2 million during 2008 , and , in total as of december 31 , 2008 , have recognized a liability for penalties of $ 88.1 million and interest of $ 180.0 million . during 2007 , we accrued interest of $ .9 million and , in total as of december 31 , 2007 , had recognized a liability for penalties and interest of $ 5.5 million . gross unrecognized tax benefits that we expect to settle in the following twelve months are in the range of $ 10.0 million to $ 20.0 million . it is reasonably possible that the amount of unrecognized tax benefits will increase or decrease in the next twelve months . we and our subsidiaries are subject to income tax in the u.s . and puerto rico , as well as income tax in multiple state jurisdictions . we have acquired allied 2019s open tax periods as part of the acquisition . allied is currently under examination or administrative review by various state and federal taxing authorities for certain tax years , including federal income tax audits for calendar years 2000 through 2006 . we are also engaged in tax litigation related to our risk management companies which are subsidiaries of allied . these matters are further discussed below . we are subject to various federal , foreign , state and local tax rules and regulations . our compliance with such rules and regulations is periodically audited by tax authorities . these authorities may challenge the republic services , inc . and subsidiaries notes to consolidated financial statements %%transmsg*** transmitting job : p14076 pcn : 123000000 ***%%pcmsg|121 |00050|yes|no|03/01/2009 18:23|0|0|page is valid , no graphics -- color : d| .
Question: in 2008 what was the change in the gross unrecognized tax benefits in millions
Answer: | 588.7 |
FINQA2974 | Please answer the given financial question based on the context.
Context: republic services , inc . notes to consolidated financial statements 2014 ( continued ) charges or other amounts due that are probable at settlement . the aggregate cash surrender value of these life insurance policies was $ 90.5 million and $ 77.1 million as of december 31 , 2015 and 2014 , respectively , and is classified in other assets in our consolidated balance sheets . the dcp liability was $ 83.3 million and $ 76.3 million as of december 31 , 2015 and 2014 , respectively , and is classified in other long-term liabilities in our consolidated balance sheets . employee stock purchase plan republic employees are eligible to participate in an employee stock purchase plan . the plan allows participants to purchase our common stock for 95% ( 95 % ) of its quoted market price on the last day of each calendar quarter . for the years ended december 31 , 2015 , 2014 and 2013 , issuances under this plan totaled 141055 shares , 139941 shares and 142217 shares , respectively . as of december 31 , 2015 , shares reserved for issuance to employees under this plan totaled 0.6 million and republic held employee contributions of approximately $ 1.4 million for the purchase of common stock . 12 . stock repurchases and dividends stock repurchases stock repurchase activity during the years ended december 31 , 2015 and 2014 follows ( in millions except per share amounts ) : .
||2015|2014|
|number of shares repurchased|9.8|11.1|
|amount paid|$ 404.7|$ 400.4|
|weighted average cost per share|$ 41.39|$ 35.92|
as of december 31 , 2015 , 0.1 million repurchased shares were pending settlement and $ 3.7 million were unpaid and included within our accrued liabilities . in october 2015 , our board of directors added $ 900.0 million to the existing share repurchase authorization , which now extends through december 31 , 2017 . share repurchases under the program may be made through open market purchases or privately negotiated transactions in accordance with applicable federal securities laws . while the board of directors has approved the program , the timing of any purchases , the prices and the number of shares of common stock to be purchased will be determined by our management , at its discretion , and will depend upon market conditions and other factors . the share repurchase program may be extended , suspended or discontinued at any time . as of december 31 , 2015 , the october 2015 repurchase program had remaining authorized purchase capacity of $ 855.5 million . in december 2015 , our board of directors changed the status of 71272964 treasury shares to authorized and unissued . in doing so , the number of our issued shares was reduced by the stated amount . our accounting policy is to deduct the par value from common stock and to reflect the excess of cost over par value as a deduction from additional paid-in capital . the change in unissued shares resulted in a reduction of $ 2295.3 million in treasury stock , $ 0.6 million in common stock , and $ 2294.7 million in additional paid-in capital . there was no effect on our total stockholders 2019 equity position as a result of the change . dividends in october 2015 , our board of directors approved a quarterly dividend of $ 0.30 per share . cash dividends declared were $ 404.3 million , $ 383.6 million and $ 357.3 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively . as of december 31 , 2015 , we recorded a quarterly dividend payable of $ 103.7 million to shareholders of record at the close of business on january 4 , 2016. .
Question: what was the percent of the remaining purchase capacity of the october 2015 compared to the authorized
Answer: | 0.95056 |
FINQA2975 | Please answer the given financial question based on the context.
Context: in connection with our assessment of impairment we recorded gross other-than-temporary impairment of $ 1.15 billion for 2009 , compared to $ 122 million for 2008 . of the total recorded , $ 227 million related to credit and was recognized in our consolidated statement of income . the remaining $ 928 million related to factors other than credit , more fully discussed below , and was recognized , net of related taxes , in oci in our consolidated statement of condition . the $ 227 million was composed of $ 151 million associated with expected credit losses , $ 54 million related to management 2019s decision to sell the impaired securities prior to their recovery in value , and $ 22 million related to adverse changes in the timing of expected future cash flows from the securities . the majority of the impairment losses related to non-agency securities collateralized by mortgages , for which management concluded had experienced credit losses based on the present value of the securities 2019 expected future cash flows . these securities are classified as asset-backed securities in the foregoing investment securities tables . as described in note 1 , management periodically reviews the fair values of investment securities to determine if other-than-temporary impairment has occurred . this review encompasses all investment securities and includes such quantitative factors as current and expected future interest rates and the length of time that a security 2019s cost basis has exceeded its fair value , and includes investment securities for which we have issuer- specific concerns regardless of quantitative factors . gains and losses related to investment securities were as follows for the years ended december 31: .
|( in millions )|2009|2008|2007|
|gross gains from sales of available-for-sale securities|$ 418|$ 100|$ 24|
|gross losses from sales of available-for-sale securities|-50 ( 50 )|-32 ( 32 )|-17 ( 17 )|
|gross losses from other-than-temporary impairment|-1155 ( 1155 )|-122 ( 122 )|-34 ( 34 )|
|losses not related to credit ( 1 )|928|2014|2014|
|net impairment losses|-227 ( 227 )|-122 ( 122 )|-34 ( 34 )|
|gains ( losses ) related to investment securities net|$ 141|$ -54 ( 54 )|$ -27 ( 27 )|
( 1 ) these losses were recognized as a component of oci ; see note 12 . we conduct periodic reviews to evaluate each security that is impaired . impairment exists when the current fair value of an individual security is below its amortized cost basis . for debt securities available for sale and held to maturity , other-than-temporary impairment is recorded in our consolidated statement of income when management intends to sell ( or may be required to sell ) securities before they recover in value , or when management expects the present value of cash flows expected to be collected to be less than the amortized cost of the impaired security ( a credit loss ) . our review of impaired securities generally includes : 2022 the identification and evaluation of securities that have indications of possible other-than-temporary impairment , such as issuer-specific concerns including deteriorating financial condition or bankruptcy ; 2022 the analysis of expected future cash flows of securities , based on quantitative and qualitative factors ; 2022 the analysis of the collectability of those future cash flows , including information about past events , current conditions and reasonable and supportable forecasts ; 2022 the analysis of individual impaired securities , including consideration of the length of time the security has been in an unrealized loss position and the anticipated recovery period ; 2022 the discussion of evidential matter , including an evaluation of factors or triggers that could cause individual securities to be deemed other-than-temporarily impaired and those that would not support other-than-temporary impairment ; and 2022 documentation of the results of these analyses . factors considered in determining whether impairment is other than temporary include : 2022 the length of time the security has been impaired; .
Question: what was the percent change in gross gains from sales of available-for-sale securities between 2008 and 2009?
Answer: | 3.18 |
FINQA2976 | Please answer the given financial question based on the context.
Context: n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( continued ) ace limited and subsidiaries 20 . statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate . these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities . there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries . the company 2019s u.s . subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators . statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items . the statutory capital and surplus of the u.s . subsidiaries met regulatory requirements for 2009 , 2008 , and 2007 . the amount of dividends available to be paid in 2010 , without prior approval from the state insurance departments , totals $ 733 million . the combined statutory capital and surplus and statutory net income of the bermuda and u.s . subsidiaries as at and for the years ended december 31 , 2009 , 2008 , and 2007 , are as follows: .
|( in millions of u.s . dollars )|bermuda subsidiaries 2009|bermuda subsidiaries 2008|bermuda subsidiaries 2007|bermuda subsidiaries 2009|bermuda subsidiaries 2008|2007|
|statutory capital and surplus|$ 9299|$ 6205|$ 8579|$ 5801|$ 5368|$ 5321|
|statutory net income|$ 2472|$ 2196|$ 1535|$ 870|$ 818|$ 873|
as permitted by the restructuring discussed previously in note 7 , certain of the company 2019s u.s . subsidiaries discount certain a&e liabilities , which increased statutory capital and surplus by approximately $ 215 million , $ 211 million , and $ 140 million at december 31 , 2009 , 2008 , and 2007 , respectively . the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations . some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements . in some countries , the company must obtain licenses issued by governmental authorities to conduct local insurance business . these licenses may be subject to reserves and minimum capital and solvency tests . jurisdictions may impose fines , censure , and/or criminal sanctions for violation of regulatory requirements . 21 . information provided in connection with outstanding debt of subsidiaries the following tables present condensed consolidating financial information at december 31 , 2009 , and december 31 , 2008 , and for the years ended december 31 , 2009 , 2008 , and 2007 , for ace limited ( the parent guarantor ) and its 201csubsidiary issuer 201d , ace ina holdings , inc . the subsidiary issuer is an indirect 100 percent-owned subsidiary of the parent guarantor . investments in subsidiaries are accounted for by the parent guarantor under the equity method for purposes of the supplemental consolidating presentation . earnings of subsidiaries are reflected in the parent guarantor 2019s investment accounts and earnings . the parent guarantor fully and unconditionally guarantees certain of the debt of the subsidiary issuer. .
Question: what is the growth rate in net income for bermuda subsidiaries from 2008 to 2009?
Answer: | 0.12568 |
FINQA2977 | Please answer the given financial question based on the context.
Context: part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities at january 25 , 2019 , we had 26812 holders of record of our common stock , par value $ 1 per share . our common stock is traded on the new york stock exchange ( nyse ) under the symbol lmt . information concerning dividends paid on lockheed martin common stock during the past two years is as follows : common stock - dividends paid per share .
|quarter|dividends paid per share 2018|dividends paid per share 2017|
|first|$ 2.00|$ 1.82|
|second|2.00|1.82|
|third|2.00|1.82|
|fourth|2.20|2.00|
|year|$ 8.20|$ 7.46|
stockholder return performance graph the following graph compares the total return on a cumulative basis of $ 100 invested in lockheed martin common stock on december 31 , 2013 to the standard and poor 2019s ( s&p ) 500 index and the s&p aerospace & defense index . the s&p aerospace & defense index comprises arconic inc. , general dynamics corporation , harris corporation , huntington ingalls industries , l3 technologies , inc. , lockheed martin corporation , northrop grumman corporation , raytheon company , textron inc. , the boeing company , transdigm group inc. , and united technologies corporation . the stockholder return performance indicated on the graph is not a guarantee of future performance. .
Question: what is the net change in total dividends paid per share from 2017 to 2018?
Answer: | 0.74 |
FINQA2978 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements ( continued ) note 8 2014commitments and contingencies ( continued ) the following table reconciles changes in the company 2019s accrued warranties and related costs ( in millions ) : .
||2007|2006|2005|
|beginning accrued warranty and related costs|$ 284|$ 188|$ 105|
|cost of warranty claims|-281 ( 281 )|-267 ( 267 )|-188 ( 188 )|
|accruals for product warranties|227|363|271|
|ending accrued warranty and related costs|$ 230|$ 284|$ 188|
the company generally does not indemnify end-users of its operating system and application software against legal claims that the software infringes third-party intellectual property rights . other agreements entered into by the company sometimes include indemnification provisions under which the company could be subject to costs and/or damages in the event of an infringement claim against the company or an indemnified third-party . however , the company has not been required to make any significant payments resulting from such an infringement claim asserted against itself or an indemnified third-party and , in the opinion of management , does not have a potential liability related to unresolved infringement claims subject to indemnification that would have a material adverse effect on its financial condition or operating results . therefore , the company did not record a liability for infringement costs as of either september 29 , 2007 or september 30 , 2006 . concentrations in the available sources of supply of materials and product certain key components including , but not limited to , microprocessors , enclosures , certain lcds , certain optical drives , and application-specific integrated circuits ( 2018 2018asics 2019 2019 ) are currently obtained by the company from single or limited sources which subjects the company to supply and pricing risks . many of these and other key components that are available from multiple sources including , but not limited to , nand flash memory , dram memory , and certain lcds , are at times subject to industry-wide shortages and significant commodity pricing fluctuations . in addition , the company has entered into certain agreements for the supply of critical components at favorable pricing , and there is no guarantee that the company will be able to extend or renew these agreements when they expire . therefore , the company remains subject to significant risks of supply shortages and/or price increases that can adversely affect gross margins and operating margins . in addition , the company uses some components that are not common to the rest of the global personal computer , consumer electronics and mobile communication industries , and new products introduced by the company often utilize custom components obtained from only one source until the company has evaluated whether there is a need for and subsequently qualifies additional suppliers . if the supply of a key single-sourced component to the company were to be delayed or curtailed , or in the event a key manufacturing vendor delays shipments of completed products to the company , the company 2019s ability to ship related products in desired quantities and in a timely manner could be adversely affected . the company 2019s business and financial performance could also be adversely affected depending on the time required to obtain sufficient quantities from the original source , or to identify and obtain sufficient quantities from an alternative source . continued availability of these components may be affected if producers were to decide to concentrate on the production of common components instead of components customized to meet the company 2019s requirements . finally , significant portions of the company 2019s cpus , ipods , iphones , logic boards , and other assembled products are now manufactured by outsourcing partners , primarily in various parts of asia . a significant concentration of this outsourced manufacturing is currently performed by only a few of the company 2019s outsourcing partners , often in single locations . certain of these outsourcing partners are the sole-sourced supplier of components and manufacturing outsourcing for many of the company 2019s key products , including but not limited to , assembly .
Question: what was the average accruals for product warranties , in millions?
Answer: | 287.0 |
FINQA2979 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 161 fifth third bancorp as of december 31 , 2012 ( $ in millions ) significant unobservable ranges of financial instrument fair value valuation technique inputs inputs weighted-average commercial loans held for sale $ 9 appraised value appraised value nm nm cost to sell nm 10.0% ( 10.0 % ) commercial and industrial loans 83 appraised value default rates 100% ( 100 % ) nm collateral value nm nm commercial mortgage loans 46 appraised value default rates 100% ( 100 % ) nm collateral value nm nm commercial construction loans 4 appraised value default rates 100% ( 100 % ) nm collateral value nm nm msrs 697 discounted cash flow prepayment speed 0 - 100% ( 100 % ) ( fixed ) 16.1% ( 16.1 % ) ( adjustable ) 26.9% ( 26.9 % ) discount rates 9.4 - 18.0% ( 18.0 % ) ( fixed ) 10.5% ( 10.5 % ) ( adjustable ) 11.7% ( 11.7 % ) .
|financial instrument|fair value|valuation technique|significant unobservableinputs|ranges ofinputs|weighted-average|
|commercial loans held for sale|$ 9|appraised value|appraised valuecost to sell|nmnm|nm10.0% ( nm10.0 % )|
|commercial and industrial loans|83|appraised value|default ratescollateral value|100%nm|nmnm|
|commercial mortgage loans|46|appraised value|default ratescollateral value|100%nm|nmnm|
|commercial construction loans|4|appraised value|default ratescollateral value|100%nm|nmnm|
|msrs|697|discounted cash flow|prepayment speeddiscount rates|0 - 100%9.4 - 18.0% ( 18.0 % )|( fixed ) 16.1% ( 16.1 % ) ( adjustable ) 26.9% ( 26.9 % ) ( fixed ) 10.5% ( 10.5 % ) ( adjustable ) 11.7% ( 11.7 % )|
|oreo|165|appraised value|appraised value|nm|nm|
commercial loans held for sale during 2013 and 2012 , the bancorp transferred $ 5 million and $ 16 million , respectively , of commercial loans from the portfolio to loans held for sale that upon transfer were measured at fair value using significant unobservable inputs . these loans had fair value adjustments in 2013 and 2012 totaling $ 4 million and $ 1 million , respectively , and were generally based on appraisals of the underlying collateral and were therefore , classified within level 3 of the valuation hierarchy . additionally , during 2013 and 2012 there were fair value adjustments on existing commercial loans held for sale of $ 3 million and $ 12 million , respectively . the fair value adjustments were also based on appraisals of the underlying collateral and were therefore classified within level 3 of the valuation hierarchy . an adverse change in the fair value of the underlying collateral would result in a decrease in the fair value measurement . the accounting department determines the procedures for valuation of commercial hfs loans which may include a comparison to recently executed transactions of similar type loans . a monthly review of the portfolio is performed for reasonableness . quarterly , appraisals approaching a year old are updated and the real estate valuation group , which reports to the chief risk and credit officer , in conjunction with the commercial line of business review the third party appraisals for reasonableness . additionally , the commercial line of business finance department , which reports to the bancorp chief financial officer , in conjunction with accounting review all loan appraisal values , carrying values and vintages . commercial loans held for investment during 2013 and 2012 , the bancorp recorded nonrecurring impairment adjustments to certain commercial and industrial , commercial mortgage and commercial construction loans held for investment . larger commercial loans included within aggregate borrower relationship balances exceeding $ 1 million that exhibit probable or observed credit weaknesses are subject to individual review for impairment . the bancorp considers the current value of collateral , credit quality of any guarantees , the guarantor 2019s liquidity and willingness to cooperate , the loan structure and other factors when evaluating whether an individual loan is impaired . when the loan is collateral dependent , the fair value of the loan is generally based on the fair value of the underlying collateral supporting the loan and therefore these loans were classified within level 3 of the valuation hierarchy . in cases where the carrying value exceeds the fair value , an impairment loss is recognized . an adverse change in the fair value of the underlying collateral would result in a decrease in the fair value measurement . the fair values and recognized impairment losses are reflected in the previous table . commercial credit risk , which reports to the chief risk and credit officer , is responsible for preparing and reviewing the fair value estimates for commercial loans held for investment . mortgage interest rates increased during the year ended december 31 , 2013 and the bancorp recognized a recovery of temporary impairment on servicing rights . the bancorp recognized temporary impairments in certain classes of the msr portfolio during the year ended december 31 , 2012 and the carrying value was adjusted to the fair value . msrs do not trade in an active , open market with readily observable prices . while sales of msrs do occur , the precise terms and conditions typically are not readily available . accordingly , the bancorp estimates the fair value of msrs using internal discounted cash flow models with certain unobservable inputs , primarily prepayment speed assumptions , discount rates and weighted average lives , resulting in a classification within level 3 of the valuation hierarchy . refer to note 11 for further information on the assumptions used in the valuation of the bancorp 2019s msrs . the secondary marketing department and treasury department are responsible for determining the valuation methodology for msrs . representatives from secondary marketing , treasury , accounting and risk management are responsible for reviewing key assumptions used in the internal discounted cash flow model . two external valuations of the msr portfolio are obtained from third parties that use valuation models in order to assess the reasonableness of the internal discounted cash flow model . additionally , the bancorp participates in peer surveys that provide additional confirmation of the reasonableness of key assumptions utilized in the msr valuation process and the resulting msr prices . during 2013 and 2012 , the bancorp recorded nonrecurring adjustments to certain commercial and residential real estate properties classified as oreo and measured at the lower of carrying amount or fair value . these nonrecurring losses are primarily due to declines in real estate values of the properties recorded in oreo . for the years ended december 31 , 2013 and 2012 , these losses include $ 19 million and $ 17 million , respectively , recorded as charge-offs , on new oreo properties transferred from loans during the respective periods and $ 26 million and $ 57 million , respectively , recorded as negative fair value adjustments on oreo in other noninterest income subsequent to their transfer from loans . as discussed in the following paragraphs , the fair value amounts are generally based on appraisals of the property values , resulting in a .
Question: what is the percentage change in nonrecurring losses from 2012 to 2013?
Answer: | 0.11765 |
FINQA2980 | Please answer the given financial question based on the context.
Context: 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 , c-130 hercules , f-16 fighting falcon , c-5m super galaxy and f-22 raptor . aeronautics 2019 operating results included the following ( in millions ) : .
||2015|2014|2013|
|net sales|$ 15570|$ 14920|$ 14123|
|operating profit|1681|1649|1612|
|operating margins|10.8% ( 10.8 % )|11.1% ( 11.1 % )|11.4% ( 11.4 % )|
|backlog at year-end|$ 31800|$ 27600|$ 28000|
2015 compared to 2014 aeronautics 2019 net sales in 2015 increased $ 650 million , or 4% ( 4 % ) , compared to 2014 . the increase was attributable to higher net sales of approximately $ 1.4 billion for f-35 production contracts due to increased volume on aircraft production and sustainment activities ; and approximately $ 150 million for the c-5 program due to increased deliveries ( nine aircraft delivered in 2015 compared to seven delivered in 2014 ) . the increases were partially offset by lower net sales of approximately $ 350 million for the c-130 program due to fewer aircraft deliveries ( 21 aircraft delivered in 2015 , compared to 24 delivered in 2014 ) , lower sustainment activities and aircraft contract mix ; approximately $ 200 million due to decreased volume and lower risk retirements on various programs ; approximately $ 195 million for the f-16 program due to fewer deliveries ( 11 aircraft delivered in 2015 , compared to 17 delivered in 2014 ) ; and approximately $ 190 million for the f-22 program as a result of decreased sustainment activities . aeronautics 2019 operating profit in 2015 increased $ 32 million , or 2% ( 2 % ) , compared to 2014 . operating profit increased by approximately $ 240 million for f-35 production contracts due to increased volume and risk retirements ; and approximately $ 40 million for the c-5 program due to increased risk retirements . these increases were offset by lower operating profit of approximately $ 90 million for the f-22 program due to lower risk retirements ; approximately $ 70 million for the c-130 program as a result of the reasons stated above for lower net sales ; and approximately $ 80 million due to decreased volume and risk retirements on various programs . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 100 million higher in 2015 compared to 2014 . 2014 compared to 2013 aeronautics 2019 net sales increased $ 797 million , or 6% ( 6 % ) , in 2014 as compared to 2013 . the increase was primarily attributable to higher net sales of approximately $ 790 million for f-35 production contracts due to increased volume and sustainment activities ; about $ 55 million for the f-16 program due to increased deliveries ( 17 aircraft delivered in 2014 compared to 13 delivered in 2013 ) partially offset by contract mix ; and approximately $ 45 million for the f-22 program due to increased risk retirements . the increases were partially offset by lower net sales of approximately $ 55 million for the f-35 development contract due to decreased volume , partially offset by the absence in 2014 of the downward revision to the profit booking rate that occurred in 2013 ; and about $ 40 million for the c-130 program due to fewer deliveries ( 24 aircraft delivered in 2014 compared to 25 delivered in 2013 ) and decreased sustainment activities , partially offset by contract mix . aeronautics 2019 operating profit increased $ 37 million , or 2% ( 2 % ) , in 2014 as compared to 2013 . the increase was primarily attributable to higher operating profit of approximately $ 85 million for the f-35 development contract due to the absence in 2014 of the downward revision to the profit booking rate that occurred in 2013 ; about $ 75 million for the f-22 program due to increased risk retirements ; approximately $ 50 million for the c-130 program due to increased risk retirements and contract mix , partially offset by fewer deliveries ; and about $ 25 million for the c-5 program due to the absence in 2014 of the downward revisions to the profit booking rate that occurred in 2013 . the increases were partially offset by lower operating profit of approximately $ 130 million for the f-16 program due to decreased risk retirements , partially offset by increased deliveries ; and about $ 70 million for sustainment activities due to decreased risk retirements and volume . operating profit was comparable for f-35 production contracts as higher volume was offset by lower risk retirements . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 105 million lower for 2014 compared to 2013. .
Question: what was the ratio of the increase net sales to the increased volume of sales for the f-35 production contracts in 2015\\n\\n
Answer: | 464.28571 |
FINQA2981 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis net revenues the table below presents net revenues by line item. .
|$ in millions|year ended december 2018|year ended december 2017|year ended december 2016|
|investment banking|$ 7862|$ 7371|$ 6273|
|investment management|6514|5803|5407|
|commissions and fees|3199|3051|3208|
|market making|9451|7660|9933|
|other principal transactions|5823|5913|3382|
|totalnon-interestrevenues|32849|29798|28203|
|interest income|19679|13113|9691|
|interest expense|15912|10181|7104|
|net interest income|3767|2932|2587|
|total net revenues|$ 36616|$ 32730|$ 30790|
in the table above : 2030 investment banking consists of revenues ( excluding net interest ) from financial advisory and underwriting assignments , as well as derivative transactions directly related to these assignments . these activities are included in our investment banking segment . 2030 investment management consists of revenues ( excluding net interest ) from providing investment management services to a diverse set of clients , as well as wealth advisory services and certain transaction services to high-net-worth individuals and families . these activities are included in our investment management segment . 2030 commissions and fees consists of revenues from executing and clearing client transactions on major stock , options and futures exchanges worldwide , as well as over-the-counter ( otc ) transactions . these activities are included in our institutional client services and investment management segments . 2030 market making consists of revenues ( excluding net interest ) from client execution activities related to making markets in interest rate products , credit products , mortgages , currencies , commodities and equity products . these activities are included in our institutional client services segment . 2030 other principal transactions consists of revenues ( excluding net interest ) from our investing activities and the origination of loans to provide financing to clients . in addition , other principal transactions includes revenues related to our consolidated investments . these activities are included in our investing & lending segment . provision for credit losses , previously reported in other principal transactions revenues , is now reported as a separate line item in the consolidated statements of earnings . previously reported amounts have been conformed to the current presentation . operating environment . during 2018 , our market- making activities reflected generally higher levels of volatility and improved client activity , compared with a low volatility environment in 2017 . in investment banking , industry-wide mergers and acquisitions volumes increased compared with 2017 , while industry-wide underwriting transactions decreased . our other principal transactions revenues benefited from company-specific events , including sales , and strong corporate performance , while investments in public equities reflected losses , as global equity prices generally decreased in 2018 , particularly towards the end of the year . in investment management , our assets under supervision increased reflecting net inflows in liquidity products , fixed income assets and equity assets , partially offset by depreciation in client assets , primarily in equity assets . if market-making or investment banking activity levels decline , or assets under supervision decline , or asset prices continue to decline , net revenues would likely be negatively impacted . see 201csegment operating results 201d for further information about the operating environment and material trends and uncertainties that may impact our results of operations . during 2017 , generally higher asset prices and tighter credit spreads were supportive of industry-wide underwriting activities , investment management performance and other principal transactions . however , low levels of volatility in equity , fixed income , currency and commodity markets continued to negatively affect our market-making activities . 2018 versus 2017 net revenues in the consolidated statements of earnings were $ 36.62 billion for 2018 , 12% ( 12 % ) higher than 2017 , primarily due to significantly higher market making revenues and net interest income , as well as higher investment management revenues and investment banking revenues . non-interest revenues . investment banking revenues in the consolidated statements of earnings were $ 7.86 billion for 2018 , 7% ( 7 % ) higher than 2017 . revenues in financial advisory were higher , reflecting an increase in industry-wide completed mergers and acquisitions volumes . revenues in underwriting were slightly higher , due to significantly higher revenues in equity underwriting , driven by initial public offerings , partially offset by lower revenues in debt underwriting , reflecting a decline in leveraged finance activity . investment management revenues in the consolidated statements of earnings were $ 6.51 billion for 2018 , 12% ( 12 % ) higher than 2017 , primarily due to significantly higher incentive fees , as a result of harvesting . management and other fees were also higher , reflecting higher average assets under supervision and the impact of the recently adopted revenue recognition standard , partially offset by shifts in the mix of client assets and strategies . see note 3 to the consolidated financial statements for further information about asu no . 2014-09 , 201crevenue from contracts with customers ( topic 606 ) . 201d 52 goldman sachs 2018 form 10-k .
Question: what is the growth rate in net revenues in 2018?
Answer: | 0.11873 |
FINQA2982 | Please answer the given financial question based on the context.
Context: republic services , inc . notes to consolidated financial statements 2014 ( continued ) credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits . concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas . we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico . we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables . we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information . accounts receivable , net accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services . our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash . the carrying value of our receivables , net of the allowance for doubtful accounts and customer credits , represents their estimated net realizable value . provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions . we also review outstanding balances on an account-specific basis . in general , reserves are provided for accounts receivable in excess of 90 days outstanding . past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due . the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31: .
||2014|2013|2012|
|balance at beginning of year|$ 38.3|$ 45.3|$ 48.1|
|additions charged to expense|22.6|16.1|29.7|
|accounts written-off|-22.0 ( 22.0 )|-23.1 ( 23.1 )|-32.5 ( 32.5 )|
|balance at end of year|$ 38.9|$ 38.3|$ 45.3|
restricted cash and marketable securities as of december 31 , 2014 , we had $ 115.6 million of restricted cash and marketable securities . we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers . the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance . as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets . in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance . at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts . property and equipment we record property and equipment at cost . expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred . when property is retired or otherwise disposed , the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of income. .
Question: what was the percentage decline in the allowance for doubtful accounts in 2013
Answer: | -0.15453 |
FINQA2983 | Please answer the given financial question based on the context.
Context: table of contents e*trade | 2016 10-k 24 2022 limits on the persons who may call special meetings of stockholders 2022 the prohibition of stockholder action by written consent 2022 advance notice requirements for nominations to the board or for proposing matters that can be acted on by stockholders at stockholder meetings in addition , certain provisions of our stock incentive plans , management retention and employment agreements ( including severance payments and stock option acceleration ) , our senior secured credit facility , certain provisions of delaware law and certain provisions of the indentures governing certain series of our debt securities that would require us to offer to purchase such securities at a premium in the event of certain changes in our ownership may also discourage , delay or prevent someone from acquiring or merging with us , which could limit the opportunity for our stockholders to receive a premium for their shares of our common stock and could also affect the price that some investors are willing to pay for our common stock . item 1b . unresolved staff comments item 2 . properties a summary of our significant locations at december 31 , 2016 is shown in the following table . square footage amounts are net of space that has been sublet or space that is part of a facility restructuring. .
|location|approximate square footage|
|alpharetta georgia|260000|
|jersey city new jersey|109000|
|arlington virginia|102000|
|sandy utah|85000|
|menlo park california|63000|
|new york new york|52000|
|chicago illinois|37000|
all facilities are leased at december 31 , 2016 . all other leased facilities with space of less than 25000 square feet are not listed by location . in addition to the significant facilities above , we also lease all 30 regional branches , ranging in space from approximately 2500 to 8000 square feet . item 3 . legal proceedings information in response to this item can be found under the heading legal matters in note 21 2014 commitments , contingencies and other regulatory matters in this annual report and is incorporated by reference into this item . item 4 . mine safety disclosures not applicable. .
Question: at december 312016 what was the ratio of the square footage of alpharetta georgia to jersey city new jersey
Answer: | 2.38532 |
FINQA2984 | Please answer the given financial question based on the context.
Context: stock options 2005 stock and incentive plan in june 2005 , the stockholders of the company approved the 2005 stock and incentive plan ( the 2005 stock plan ) . upon adoption of the 2005 stock plan , issuance of options under the company 2019s existing 2000 stock plan ceased . additionally , in connection with the acquisition of solexa , the company assumed stock options granted under the 2005 solexa equity incentive plan ( the 2005 solexa equity plan ) . as of december 30 , 2007 , an aggregate of up to 13485619 shares of the company 2019s common stock were reserved for issuance under the 2005 stock plan and the 2005 solexa equity plan . the 2005 stock plan provides for an automatic annual increase in the shares reserved for issuance by the lesser of 5% ( 5 % ) of outstanding shares of the company 2019s common stock on the last day of the immediately preceding fiscal year , 1200000 shares or such lesser amount as determined by the company 2019s board of directors . as of december 30 , 2007 , options to purchase 1834384 shares remained available for future grant under the 2005 stock plan and 2005 solexa equity plan . the company 2019s stock option activity under all stock option plans from january 2 , 2005 through december 30 , 2007 is as follows : options weighted- average exercise price .
||options|weighted- average exercise price|
|outstanding at january 2 2005|6205020|$ 6.99|
|granted|2992300|$ 10.02|
|exercised|-869925 ( 869925 )|$ 4.66|
|cancelled|-1001964 ( 1001964 )|$ 11.00|
|outstanding at january 1 2006|7325431|$ 7.96|
|granted|2621050|$ 27.24|
|exercised|-1273119 ( 1273119 )|$ 7.28|
|cancelled|-314242 ( 314242 )|$ 12.44|
|outstanding at december 31 2006|8359120|$ 13.94|
|options assumed through business combination|1424332|$ 21.37|
|granted|3784508|$ 40.64|
|exercised|-2179286 ( 2179286 )|$ 12.06|
|cancelled|-964740 ( 964740 )|$ 22.38|
|outstanding at december 30 2007|10423934|$ 24.26|
illumina , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what is the total value of granted options in 2006 , in millions?
Answer: | 71.3974 |
FINQA2985 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements the firm permanently reinvests eligible earnings of certain foreign subsidiaries and , accordingly , does not accrue any u.s . income taxes that would arise if such earnings were repatriated . as of december 2012 and december 2011 , this policy resulted in an unrecognized net deferred tax liability of $ 3.75 billion and $ 3.32 billion , respectively , attributable to reinvested earnings of $ 21.69 billion and $ 20.63 billion , respectively . unrecognized tax benefits the firm recognizes tax positions in the financial statements only when it is more likely than not that the position will be sustained on examination by the relevant taxing authority based on the technical merits of the position . a position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized on settlement . a liability is established for differences between positions taken in a tax return and amounts recognized in the financial statements . as of december 2012 and december 2011 , the accrued liability for interest expense related to income tax matters and income tax penalties was $ 374 million and $ 233 million , respectively . the firm recognized $ 95 million , $ 21 million and $ 28 million of interest and income tax penalties for the years ended december 2012 , december 2011 and december 2010 , respectively . it is reasonably possible that unrecognized tax benefits could change significantly during the twelve months subsequent to december 2012 due to potential audit settlements , however , at this time it is not possible to estimate any potential change . the table below presents the changes in the liability for unrecognized tax benefits . this liability is included in 201cother liabilities and accrued expenses . 201d see note 17 for further information. .
|in millions|as of december 2012|as of december 2011|as of december 2010|
|balance beginning of year|$ 1887|$ 2081|$ 1925|
|increases based on tax positions related to the current year|190|171|171|
|increases based on tax positions related to prior years|336|278|162|
|decreases related to tax positions of prior years|-109 ( 109 )|-41 ( 41 )|-104 ( 104 )|
|decreases related to settlements|-35 ( 35 )|-638 ( 638 )|-128 ( 128 )|
|acquisitions/ ( dispositions )|-47 ( 47 )|47|56|
|exchange rate fluctuations|15|-11 ( 11 )|-1 ( 1 )|
|balance end of year|$ 2237|$ 1887|$ 2081|
|related deferred income tax asset1|685|569|972|
|net unrecognized tax benefit2|$ 1552|$ 1318|$ 1109|
related deferred income tax asset 1 685 569 972 net unrecognized tax benefit 2 $ 1552 $ 1318 $ 1109 1 . included in 201cother assets . 201d see note 12 . 2 . if recognized , the net tax benefit would reduce the firm 2019s effective income tax rate . 194 goldman sachs 2012 annual report .
Question: what is the percentage change in the net unrecognized tax benefit in 2011 compare to 2010?
Answer: | 0.18846 |
FINQA2986 | Please answer the given financial question based on the context.
Context: for the estimates of our oil sands mining reserves has 33 years of experience in petroleum engineering and has conducted surface mineable oil sands evaluations since 1986 . he is a member of spe , having served as regional director from 1998 through 2001 and is a registered practicing professional engineer in the province of alberta . audits of estimates third-party consultants are engaged to provide independent estimates for fields that comprise 80 percent of our total proved reserves over a rolling four-year period for the purpose of auditing the in-house reserve estimates . we met this goal for the four-year period ended december 31 , 2011 . we established a tolerance level of 10 percent such that initial estimates by the third-party consultants are accepted if they are within 10 percent of our internal estimates . should the third-party consultants 2019 initial analysis fail to reach our tolerance level , both our team and the consultants re-examine the information provided , request additional data and refine their analysis if appropriate . this resolution process is continued until both estimates are within 10 percent . this process did not result in significant changes to our reserve estimates in 2011 or 2009 . there were no third-party audits performed in 2010 . during 2011 , netherland , sewell & associates , inc . ( 201cnsai 201d ) prepared a certification of december 31 , 2010 reserves for the alba field in equatorial guinea . the nsai summary report is filed as an exhibit to this annual report on form 10-k . the senior members of the nsai team have over 50 years of industry experience between them , having worked for large , international oil and gas companies before joining nsai . the team lead has a master of science in mechanical engineering and is a member of spe . the senior technical advisor has a bachelor of science degree in geophysics and is a member of the society of exploration geophysicists , the american association of petroleum geologists and the european association of geoscientists and engineers . both are licensed in the state of texas . ryder scott company ( 201cryder scott 201d ) performed audits of several of our fields in 2011 and 2009 . their summary report on audits performed in 2011 is filed as an exhibit to this annual report on form 10-k . the team lead for ryder scott has over 20 years of industry experience , having worked for a major international oil and gas company before joining ryder scott . he has a bachelor of science degree in mechanical engineering , is a member of spe and is a registered professional engineer in the state of texas . the corporate reserves group also performs separate , detailed technical reviews of reserve estimates for significant fields that were acquired recently or for properties with other indicators such as excessively short or long lives , performance above or below expectations or changes in economic or operating conditions . changes in proved undeveloped reserves as of december 31 , 2011 , 395 mmboe of proved undeveloped reserves were reported , a decrease of 10 mmboe from december 31 , 2010 . the following table shows changes in total proved undeveloped reserves for 2011: .
|beginning of year|405|
|revisions of previous estimates|15|
|improved recovery|1|
|purchases of reserves in place|91|
|extensions discoveries and other additions|49|
|transfer to proved developed|-166 ( 166 )|
|end of year|395|
significant additions to proved undeveloped reserves during 2011 include 91 mmboe due to acreage acquisition in the eagle ford shale , 26 mmboe related to anadarko woodford shale development , 10 mmboe for development drilling in the bakken shale play and 8 mmboe for additional drilling in norway . additionally , 139 mmboe were transferred from proved undeveloped to proved developed reserves due to startup of the jackpine upgrader expansion in canada . costs incurred in 2011 , 2010 and 2009 relating to the development of proved undeveloped reserves , were $ 1107 million , $ 1463 million and $ 792 million . projects can remain in proved undeveloped reserves for extended periods in certain situations such as behind-pipe zones where reserves will not be accessed until the primary producing zone depletes , large development projects which take more than five years to complete , and the timing of when additional gas compression is needed . of the 395 mmboe of proved undeveloped reserves at year end 2011 , 34 percent of the volume is associated with projects that have been included in proved reserves for more than five years . the majority of this volume is related to a compression project in equatorial guinea that was sanctioned by our board of directors in 2004 and is expected to be completed by 2016 . performance of this field has exceeded expectations , and estimates of initial dry gas in place increased by roughly 10 percent between 2004 and 2010 . production is not expected to experience a natural decline from facility-limited plateau production until 2014 , or possibly 2015 . the timing of the installation of compression is being driven by the reservoir performance. .
Question: what were total costs incurred in 2011 , 2010 and 2009 relating to the development of proved undeveloped reserves , in millions?
Answer: | 3362.0 |
FINQA2987 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements note 11 . income taxes 2013 ( continued ) the federal income tax return for 2006 is subject to examination by the irs . in addition for 2007 and 2008 , the irs has invited the company to participate in the compliance assurance process ( 201ccap 201d ) , which is a voluntary program for a limited number of large corporations . under cap , the irs conducts a real-time audit and works contemporaneously with the company to resolve any issues prior to the filing of the tax return . the company has agreed to participate . the company believes this approach should reduce tax-related uncertainties , if any . the company and/or its subsidiaries also file income tax returns in various state , local and foreign jurisdictions . these returns , with few exceptions , are no longer subject to examination by the various taxing authorities before as discussed in note 1 , the company adopted the provisions of fin no . 48 , 201caccounting for uncertainty in income taxes , 201d on january 1 , 2007 . as a result of the implementation of fin no . 48 , the company recognized a decrease to beginning retained earnings on january 1 , 2007 of $ 37 million . the total amount of unrecognized tax benefits as of the date of adoption was approximately $ 70 million . included in the balance at january 1 , 2007 , were $ 51 million of tax positions that if recognized would affect the effective tax rate . a reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows : ( in millions ) .
|balance january 1 2007|$ 70|
|additions based on tax positions related to the current year|12|
|additions for tax positions of prior years|3|
|reductions for tax positions related to the current year|-23 ( 23 )|
|settlements|-6 ( 6 )|
|expiration of statute of limitations|-3 ( 3 )|
|balance december 31 2007|$ 53|
the company anticipates that it is reasonably possible that payments of approximately $ 2 million will be made primarily due to the conclusion of state income tax examinations within the next 12 months . additionally , certain state and foreign income tax returns will no longer be subject to examination and as a result , there is a reasonable possibility that the amount of unrecognized tax benefits will decrease by $ 7 million . at december 31 , 2007 , there were $ 42 million of tax benefits that if recognized would affect the effective rate . the company recognizes interest accrued related to : ( 1 ) unrecognized tax benefits in interest expense and ( 2 ) tax refund claims in other revenues on the consolidated statements of income . the company recognizes penalties in income tax expense ( benefit ) on the consolidated statements of income . during 2007 , the company recorded charges of approximately $ 4 million for interest expense and $ 2 million for penalties . provision has been made for the expected u.s . federal income tax liabilities applicable to undistributed earnings of subsidiaries , except for certain subsidiaries for which the company intends to invest the undistributed earnings indefinitely , or recover such undistributed earnings tax-free . at december 31 , 2007 , the company has not provided deferred taxes of $ 126 million , if sold through a taxable sale , on $ 361 million of undistributed earnings related to a domestic affiliate . the determination of the amount of the unrecognized deferred tax liability related to the undistributed earnings of foreign subsidiaries is not practicable . in connection with a non-recurring distribution of $ 850 million to diamond offshore from a foreign subsidiary , a portion of which consisted of earnings of the subsidiary that had not previously been subjected to u.s . federal income tax , diamond offshore recognized $ 59 million of u.s . federal income tax expense as a result of the distribution . it remains diamond offshore 2019s intention to indefinitely reinvest future earnings of the subsidiary to finance foreign activities . total income tax expense for the years ended december 31 , 2007 , 2006 and 2005 , was different than the amounts of $ 1601 million , $ 1557 million and $ 639 million , computed by applying the statutory u.s . federal income tax rate of 35% ( 35 % ) to income before income taxes and minority interest for each of the years. .
Question: what is the ratio of the decrease in the retained earnings to the to the beginning amount of unrecognized tax benefits in 2007
Answer: | 0.52857 |
FINQA2988 | Please answer the given financial question based on the context.
Context: period . the discount reflects our incremental borrowing rate , which matches the lifetime of the liability . significant changes in the discount rate selected or the estimations of sublease income in the case of leases could impact the amounts recorded . other associated costs with restructuring activities we recognize other costs associated with restructuring activities as they are incurred , including moving costs and consulting and legal fees . pensions we sponsor defined benefit pension plans throughout the world . our most significant plans are located in the u.s. , the u.k. , the netherlands and canada . our significant u.s. , u.k . and canadian pension plans are closed to new entrants . we have ceased crediting future benefits relating to salary and service for our u.s. , u.k . and canadian plans . recognition of gains and losses and prior service certain changes in the value of the obligation and in the value of plan assets , which may occur due to various factors such as changes in the discount rate and actuarial assumptions , actual demographic experience and/or plan asset performance are not immediately recognized in net income . such changes are recognized in other comprehensive income and are amortized into net income as part of the net periodic benefit cost . unrecognized gains and losses that have been deferred in other comprehensive income , as previously described , are amortized into compensation and benefits expense as a component of periodic pension expense based on the average expected future service of active employees for our plans in the netherlands and canada , or the average life expectancy of the u.s . and u.k . plan members . after the effective date of the plan amendments to cease crediting future benefits relating to service , unrecognized gains and losses are also be based on the average life expectancy of members in the canadian plans . we amortize any prior service expense or credits that arise as a result of plan changes over a period consistent with the amortization of gains and losses . as of december 31 , 2013 , our pension plans have deferred losses that have not yet been recognized through income in the consolidated financial statements . we amortize unrecognized actuarial losses outside of a corridor , which is defined as 10% ( 10 % ) of the greater of market-related value of plan assets or projected benefit obligation . to the extent not offset by future gains , incremental amortization as calculated above will continue to affect future pension expense similarly until fully amortized . the following table discloses our combined experience loss , the number of years over which we are amortizing the experience loss , and the estimated 2014 amortization of loss by country ( amounts in millions ) : .
||u.k .|u.s .|other|
|combined experience loss|$ 2012|$ 1219|$ 402|
|amortization period ( in years )|29|26|11 - 23|
|estimated 2014 amortization of loss|$ 53|$ 44|$ 10|
the unrecognized prior service cost at december 31 , 2013 was $ 27 million in the u.k . and other plans . for the u.s . pension plans we use a market-related valuation of assets approach to determine the expected return on assets , which is a component of net periodic benefit cost recognized in the consolidated statements of income . this approach recognizes 20% ( 20 % ) of any gains or losses in the current year's value of market-related assets , with the remaining 80% ( 80 % ) spread over the next four years . as this approach recognizes gains or losses over a five-year period , the future value of assets and therefore , our net periodic benefit cost will be impacted as previously deferred gains or losses are recorded . as of december 31 , 2013 , the market-related value of assets was $ 1.8 billion . we do not use the market-related valuation approach to determine the funded status of the u.s . plans recorded in the consolidated statements of financial position . instead , we record and present the funded status in the consolidated statements of financial position based on the fair value of the plan assets . as of december 31 , 2013 , the fair value of plan assets was $ 1.9 billion . our non-u.s . plans use fair value to determine expected return on assets. .
Question: what is the total estimated amortization of loss in 2014 for aon , ( in millions ) ?
Answer: | 107.0 |
FINQA2989 | Please answer the given financial question based on the context.
Context: the committee's assessment of other elements of compensation provided to the named executive officer . the corporate and business unit goals and objectives vary by individual officers and include , among other things , corporate and business unit financial performance , capital expenditures , cost containment , safety , reliability , customer service , business development and regulatory matters . the use of "internal pay equity" in setting merit increases is limited to determining whether a change in an executive officer's role and responsibilities relative to other executive officers requires an adjustment in the officer's salary . the committee has not established any predetermined formula against which the base salary of one named executive officer is measured against another officer or employee . in 2008 , on the basis of the market data and other factors described above , merit-based salary increases for the named executive officers were approved in amounts ranging from 3.2 to 5.2 percent . in general these merit-based increases were consistent with the merit increase percentages approved with respect to named executive officers in the last two years ( excluding adjustments in salaries related to market factors , promotions or other changes in job responsibilities ) . the following table sets forth the 2007 base salaries for the named executive officers , the 2008 percentage increase and the resulting 2008 base salary . except as described below , changes in base salaries were effective in april of each of the years shown . named executive officer 2007 base salary percentage increase 2008 base salary .
|named executive officer|2007 base salary|percentage increase|2008 base salary|
|j . wayne leonard|$ 1230000|5.0% ( 5.0 % )|$ 1291500|
|leo p . denault|$ 600000|5.0% ( 5.0 % )|$ 630000|
|richard j . smith|$ 622400|3.5% ( 3.5 % )|$ 645000|
|e . renae conley|$ 392000|4.0% ( 4.0 % )|$ 407680|
|hugh t . mcdonald|$ 311992|3.2% ( 3.2 % )|$ 322132|
|joseph f . domino|$ 307009|3.5% ( 3.5 % )|$ 317754|
|roderick k . west|$ 276000|13.75% ( 13.75 % )|$ 315000|
|theodore h . bunting jr .|$ 325000|5.2% ( 5.2 % )|$ 341900|
|haley fisackerly|$ 205004|32.9% ( 32.9 % )|$ 275000|
|carolyn shanks|$ 307009|3.3% ( 3.3 % )|$ 317140|
|jay a . lewis|$ 207000|3.24% ( 3.24 % )|$ 213707|
in addition to the market-based and other factors described above , the following factors were considered by the committee with respect to the officers identified below : mr . leonard's salary was increased due to the personnel committee's assessment of , among other things , his strong performance as chief executive officer of entergy corporation , entergy corporation's financial and operational performance in 2007 and comparative market data on base salaries for chief executive officers . in may , 2008 , carolyn shanks resigned as ceo - entergy mississippi and accepted a conditional offer of employment at enexus energy corporation . upon her resignation , mr . fisackerly was promoted to president and ceo of entergy mississippi , and mr . fisackerly's salary was increased to reflect the increased responsibilities of his new position and comparative market and internal data for officers holding similar positions and performing similar responsibilities . in the third quarter of 2008 , mr . bunting took on the role of principal financial officer for the subsidiaries replacing mr . lewis in that position . in the third quarter of 2008 , mr . lewis assumed a position with enexus energy corporation . mr . west's salary was increased to reflect his performance as ceo - entergy new orleans , the strategic challenges facing entergy new orleans and the importance of retaining mr . west to manage these challenges and to retain internal competitiveness of mr . west's salary with officers in the company holding similar positions. .
Question: what is the difference between the highest and the lowest base salary in 2007?
Answer: | 1024996.0 |
FINQA2990 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis interest expense was $ 17 million less in 2004 than in 2003 reflecting the year over year reduction in debt of $ 316 million . other charges declined $ 30 million in 2004 due to a combination of lower environmental remediation , legal and workers compensation expenses and the absence of certain 2003 charges . other earnings were $ 28 million higher in 2004 due primarily to higher earnings from our equity affiliates . the effective tax rate for 2004 was 30.29% ( 30.29 % ) compared to 34.76% ( 34.76 % ) for the full year 2003 . the reduction in the rate for 2004 reflects the benefit of the subsidy offered pursuant to the medicare act not being subject to tax , the continued improvement in the geographical mix of non- u.s . earnings and the favorable resolution during 2004 of matters related to two open u.s . federal income tax years . net income in 2004 totaled $ 683 million , an increase of $ 189 million over 2003 , and earnings per share 2013 diluted increased $ 1.06 to $ 3.95 per share . results of business segments net sales operating income ( millions ) 2004 2003 2004 2003 ( 1 ) coatings $ 5275 $ 4835 $ 777 $ 719 .
|( millions )|net sales 2004|net sales 2003|net sales 2004|2003 ( 1 )|
|coatings|$ 5275|$ 4835|$ 777|$ 719|
|glass|2204|2150|169|71|
|chemicals|2034|1771|291|228|
chemicals 2034 1771 291 228 ( 1 ) operating income by segment for 2003 has been revised to reflect a change in the allocation method for certain pension and other postretirement benefit costs in 2004 ( see note 22 , 201cbusiness segment information 201d , under item 8 of this form 10-k ) . coatings sales increased $ 440 million or 9% ( 9 % ) in 2004 . sales increased 6% ( 6 % ) from improved volumes across all our coatings businesses and 4% ( 4 % ) due to the positive effects of foreign currency translation , primarily from our european operations . sales declined 1% ( 1 % ) due to lower selling prices , principally in our automotive business . operating income increased $ 58 million in 2004 . factors increasing operating income were the higher sales volume ( $ 135 million ) and the favorable effects of currency translation described above and improved manufacturing efficiencies of $ 20 million . factors decreasing operating income were inflationary cost increases of $ 82 million and lower selling prices . glass sales increased $ 54 million or 3% ( 3 % ) in 2004 . sales increased 6% ( 6 % ) from improved volumes primarily from our performance glazings ( flat glass ) , fiber glass , and automotive original equipment businesses net of lower volumes in our automotive replacement glass business . sales also increased 2% ( 2 % ) due to the positive effects of foreign currency translation , primarily from our european fiber glass operations . sales declined 5% ( 5 % ) due to lower selling prices across all our glass businesses . operating income in 2004 increased $ 98 million . factors increasing operating income were improved manufacturing efficiencies of $ 110 million , higher sales volume ( $ 53 million ) described above , higher equity earnings and the gains on the sale/leaseback of precious metals of $ 19 million . the principal factor decreasing operating income was lower selling prices . fiber glass volumes were up 15% ( 15 % ) for the year , although pricing declined . with the shift of electronic printed wiring board production to asia and the volume and pricing gains there , equity earnings from our joint venture serving that region grew in 2004 . these factors combined with focused cost reductions and manufacturing efficiencies to improve the operating performance of this business , as we continue to position it for future growth in profitability . chemicals sales increased $ 263 million or 15% ( 15 % ) in 2004 . sales increased 10% ( 10 % ) from improved volumes in our commodity and specialty businesses and 4% ( 4 % ) due to higher selling prices for our commodity products . sales also increased 1% ( 1 % ) due to the positive effects of foreign currency translation , primarily from our european operations . operating income increased $ 63 million in 2004 . factors increasing operating income were the higher selling prices for our commodity products and the higher sales volume ( $ 73 million ) described above , improved manufacturing efficiencies of $ 25 million and lower environmental expenses . factors decreasing 2004 operating income were inflationary cost increases of $ 40 million and higher energy costs of $ 79 million . other significant factors the company 2019s pension and other postretirement benefit costs for 2004 were $ 45 million lower than in 2003 . this decrease reflects the market driven growth in pension plan assets that occurred in 2003 , the impact of the $ 140 million in cash contributed to the pension plans by the company in 2004 and the benefit of the subsidy offered pursuant to the medicare act , as discussed in note 12 , 201cpension and other postretirement benefits , 201d under item 8 of this form 10-k . commitments and contingent liabilities , including environmental matters ppg is involved in a number of lawsuits and claims , both actual and potential , including some that it has asserted against others , in which substantial monetary damages are sought . see item 3 , 201clegal proceedings 201d of this form 10-k and note 13 , 201ccommitments and contingent liabilities , 201d under item 8 of this form 10-k for a description of certain of these lawsuits , including a description of the proposed ppg settlement arrangement for asbestos claims announced on may 14 , 2002 . as discussed in item 3 and note 13 , although the result of any future litigation of such lawsuits and claims is inherently unpredictable , management believes that , in the aggregate , the outcome of all lawsuits and claims involving ppg , including asbestos-related claims in the event the ppg settlement arrangement described in note 13 does not become effective , will not have a material effect on ppg 2019s consolidated financial position or liquidity ; however , any such outcome may be material to the results of operations of any particular period in which costs , if any , are recognized . the company has been named as a defendant , along with various other co-defendants , in a number of antitrust lawsuits filed in federal and state courts . these suits allege that ppg acted with competitors to fix prices and allocate markets in the flat glass and automotive refinish industries . 22 2005 ppg annual report and form 10-k .
Question: what is operating income return on sales for 2003 in the coatings segment?
Answer: | 0.14871 |
FINQA2991 | Please answer the given financial question based on the context.
Context: 3 . the following exhibits are filed as part of this annual report on form 10-k pursuant to item 601 of sec regulation s-k and item 15 ( b ) of form 10-k : exhibit no . document 3.1 form of restated certificate of incorporation ( incorporated by reference to exhibit 3.1 to amendment no . 2 to the registration statement on form s-4 , sec file no . 333-151586 ( 201camendment no . 2 201d ) ) .
|exhibit no .|document|
|3.1|form of restated certificate of incorporation ( incorporated by reference to exhibit 3.1 to amendment no . 2 to the registration statement on form s-4 sec file no . 333-151586 ( 201camendment no . 2 201d ) )|
|3.2|bylaws ( incorporated by reference to exhibit 3.2 to the 8-k filed on november 16 2009 ( sec file no . 1-34177 ) )|
|4.1|specimen certificate for shares of the registrant 2019s series a common stock par value $ .01 per share ( incorporated by reference to exhibit 4.1 to the registration statement onform s-4 sec file no . 333-151586 ( the 201cregistration statement 201d ) )|
|4.2|specimen certificate for shares of the registrant 2019s series b common stock par value $ .01 per share ( incorporated by reference to exhibit 4.2 to the registration statement )|
|4.3|specimen certificate for shares of the registrant 2019s series c common stock par value $ .01 per share ( incorporated by reference to exhibit 4.3 to the registration statement )|
|4.4|form of registration rights agreement by and between discovery communications inc . and advance/newhouse programming partnership ( incorporated by reference to exhibit 4.4 to theregistration statement )|
|4.5|form of rights agreement by and between discovery communications inc . and computershare trust company n.a . as rights agent ( incorporated by reference to exhibit 4.5 to theregistration statement )|
|4.6|amendment no . 1 to rights agreement between discovery communications inc . and computershare trust company n.a . dated december 10 2008 ( incorporated by reference to exhibit 4.1 tothe 8-k filed on december 11 2008 )|
|4.7|amendment and restatement agreement regarding $ 700000000 senior unsecured notes dated as of november 4 2005 between discovery communications inc . and the holders of noteslisted therein and attached thereto the amended and restated note purchase agreement dated as of november 4 2005 between discovery communications inc . and the holders of notes listed therein as purchasers ( the 201c2001 note purchaseagreement 201d ) ( incorporated by reference to exhibit 4.7 to the registration statement )|
|4.8|first amendment to 2001 note purchase agreement dated as of april 11 2007 between discovery communications inc . and the holders of notes listed therein as noteholders ( incorporated by reference to exhibit 4.8 to the registration statement )|
|4.9|amendment and restatement agreement regarding $ 290000000 senior unsecured notes dated as of november 4 2005 between discovery communications inc . and the holders of noteslisted therein and attached thereto the amended and restated note purchase agreement dated as of november 4 2005 between discovery communications inc . and the holders of notes listed therein as purchasers ( the 201c2002 note purchaseagreement 201d ) ( incorporated by reference to exhibit 4.9 to the registration statement )|
|4.10|first amendment to 2002 note purchase agreement dated as of april 11 2007 between discovery communications inc . and the holders of notes listed therein as noteholders ( incorporated by reference to exhibit 4.10 to the registration statement )|
|4.11|note purchase agreement dated as of december 1 2005 between discovery communications inc . and the holders of notes listed therein as purchasers ( the 201c2005 note purchaseagreement 201d ) ( incorporated by reference to exhibit 4.11 to the registration statement )|
|4.12|first amendment to 2005 note purchase agreement dated as of april 11 2007 between discovery communications inc . and the holders of notes listed therein as noteholders ( incorporated by reference to exhibit 4.12 to the registration statement )|
4.1 specimen certificate for shares of the registrant 2019s series a common stock , par value $ .01 per share ( incorporated by reference to exhibit 4.1 to the registration statement on form s-4 , sec file no . 333-151586 ( the 201cregistration statement 201d ) ) 4.2 specimen certificate for shares of the registrant 2019s series b common stock , par value $ .01 per share ( incorporated by reference to exhibit 4.2 to the registration statement ) 4.3 specimen certificate for shares of the registrant 2019s series c common stock , par value $ .01 per share ( incorporated by reference to exhibit 4.3 to the registration statement ) 4.4 form of registration rights agreement , by and between discovery communications , inc . and advance/newhouse programming partnership ( incorporated by reference to exhibit 4.4 to the registration statement ) 4.5 form of rights agreement , by and between discovery communications , inc . and computershare trust company , n.a. , as rights agent ( incorporated by reference to exhibit 4.5 to the registration statement ) 4.6 amendment no . 1 to rights agreement between discovery communications , inc . and computershare trust company , n.a . dated december 10 , 2008 ( incorporated by reference to exhibit 4.1 to the 8-k filed on december 11 , 2008 ) 4.7 amendment and restatement agreement regarding $ 700000000 senior unsecured notes , dated as of november 4 , 2005 , between discovery communications , inc . and the holders of notes listed therein , and attached thereto , the amended and restated note purchase agreement , dated as of november 4 , 2005 , between discovery communications , inc . and the holders of notes listed therein as purchasers ( the 201c2001 note purchase agreement 201d ) ( incorporated by reference to exhibit 4.7 to the registration statement ) 4.8 first amendment to 2001 note purchase agreement , dated as of april 11 , 2007 , between discovery communications , inc . and the holders of notes listed therein as noteholders ( incorporated by reference to exhibit 4.8 to the registration statement ) 4.9 amendment and restatement agreement regarding $ 290000000 senior unsecured notes , dated as of november 4 , 2005 , between discovery communications , inc . and the holders of notes listed therein , and attached thereto , the amended and restated note purchase agreement dated as of november 4 , 2005 , between discovery communications , inc . and the holders of notes listed therein as purchasers ( the 201c2002 note purchase agreement 201d ) ( incorporated by reference to exhibit 4.9 to the registration statement ) 4.10 first amendment to 2002 note purchase agreement dated as of april 11 , 2007 , between discovery communications , inc . and the holders of notes listed therein as noteholders ( incorporated by reference to exhibit 4.10 to the registration statement ) 4.11 note purchase agreement , dated as of december 1 , 2005 , between discovery communications , inc . and the holders of notes listed therein as purchasers ( the 201c2005 note purchase agreement 201d ) ( incorporated by reference to exhibit 4.11 to the registration statement ) 4.12 first amendment to 2005 note purchase agreement , dated as of april 11 , 2007 , between discovery communications , inc . and the holders of notes listed therein as noteholders ( incorporated by reference to exhibit 4.12 to the registration statement ) .
Question: what is the size difference between the senior unsecured note amounts between those under the 2001 note purchase agreement and those under the 2002 note purchase agreement?
Answer: | 410000000.0 |
FINQA2992 | Please answer the given financial question based on the context.
Context: ( $ 66 million net-of-tax ) as a result of customer credits to be realized by electric customers of entergy louisiana , consistent with the terms of the stipulated settlement in the business combination proceeding . see note 2 to the financial statements for further discussion of the business combination and customer credits . results of operations for 2015 also include the sale in december 2015 of the 583 mw rhode island state energy center for a realized gain of $ 154 million ( $ 100 million net-of-tax ) on the sale and the $ 77 million ( $ 47 million net-of-tax ) write-off and regulatory charges to recognize that a portion of the assets associated with the waterford 3 replacement steam generator project is no longer probable of recovery . see note 14 to the financial statements for further discussion of the rhode island state energy center sale . see note 2 to the financial statements for further discussion of the waterford 3 replacement steam generator prudence review proceeding . net revenue utility following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) .
||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|
the retail electric price variance is primarily due to : 2022 an increase in base rates at entergy arkansas , as approved by the apsc . the new rates were effective february 24 , 2016 and began billing with the first billing cycle of april 2016 . the increase included an interim base rate adjustment surcharge , effective with the first billing cycle of april 2016 , to recover the incremental revenue requirement for the period february 24 , 2016 through march 31 , 2016 . a significant portion of the increase was related to the purchase of power block 2 of the union power station ; 2022 an increase in the purchased power and capacity acquisition cost recovery rider for entergy new orleans , as approved by the city council , effective with the first billing cycle of march 2016 , primarily related to the purchase of power block 1 of the union power station ; 2022 an increase in formula rate plan revenues for entergy louisiana , implemented with the first billing cycle of march 2016 , to collect the estimated first-year revenue requirement related to the purchase of power blocks 3 and 4 of the union power station ; and 2022 an increase in revenues at entergy mississippi , as approved by the mpsc , effective with the first billing cycle of july 2016 , and an increase in revenues collected through the storm damage rider . see note 2 to the financial statements for further discussion of the rate proceedings . see note 14 to the financial statements for discussion of the union power station purchase . the louisiana business combination customer credits variance is due to a regulatory liability of $ 107 million recorded by entergy in october 2015 as a result of the entergy gulf states louisiana and entergy louisiana business combination . consistent with the terms of the stipulated settlement in the business combination proceeding , electric customers of entergy louisiana will realize customer credits associated with the business combination ; accordingly , in october 2015 , entergy recorded a regulatory liability of $ 107 million ( $ 66 million net-of-tax ) . these costs are being entergy corporation and subsidiaries management 2019s financial discussion and analysis .
Question: what is the percent change in net revenue from 2015 to 2016?
Answer: | 0.06004 |
FINQA2993 | Please answer the given financial question based on the context.
Context: supplementary information on oil and gas producing activities ( unaudited ) changes in the standardized measure of discounted future net cash flows .
|( in millions )|2009|2008|2007|
|sales and transfers of oil and gas produced net of production andadministrative costs|$ -4876 ( 4876 )|$ -6863 ( 6863 )|$ -4613 ( 4613 )|
|net changes in prices and production and administrative costs related tofuture production|4840|-18683 ( 18683 )|12344|
|extensions discoveries and improved recovery less related costs|1399|663|1816|
|development costs incurred during the period|2786|1774|1569|
|changes in estimated future development costs|-3641 ( 3641 )|-1436 ( 1436 )|-1706 ( 1706 )|
|revisions of previous quantity estimates|5110|85|166|
|net changes in purchases and sales of minerals in place|-159 ( 159 )|-13 ( 13 )|23|
|accretion of discount|787|2724|1696|
|net change in income taxes|-4441 ( 4441 )|12633|-6647 ( 6647 )|
|timing and other|-149 ( 149 )|184|-31 ( 31 )|
|net change for the year|1656|-8932 ( 8932 )|4617|
|beginning of the year|4035|12967|8350|
|end of year|$ 5691|$ 4035|$ 12967|
|net change for the year from discontinued operations|$ -|$ 284|$ 528|
.
Question: in millions , what was the average net change in discounted future cash flows for the three year period?
Answer: | -886.33333 |
FINQA2994 | Please answer the given financial question based on the context.
Context: item 11 2014executive compensation we incorporate by reference in this item 11 the information relating to executive and director compensation contained under the headings 201cother information about the board and its committees , 201d 201ccompensation and other benefits 201d and 201creport of the compensation committee 201d from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013 . item 12 2014security ownership of certain beneficial owners and management and related stockholder matters we incorporate by reference in this item 12 the information relating to ownership of our common stock by certain persons contained under the headings 201ccommon stock ownership of management 201d and 201ccommon stock ownership by certain other persons 201d from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013 . the following table provides certain information as of may 31 , 2013 concerning the shares of the company 2019s common stock that may be issued under existing equity compensation plans . for more information on these plans , see note 11 to notes to consolidated financial statements . 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 : 1765510 $ 34.92 7927210 ( 1 ) equity compensation plans not approved by security holders : 2014 2014 2014 .
|plan category|number of securities to be issued upon exercise of outstanding options warrants and rights ( a )|weighted-average exerciseprice of outstanding options warrants and rights ( b )|number of securitiesremaining available forfuture issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )||
|equity compensation plans approved by security holders:|1765510|$ 34.92|7927210|-1 ( 1 )|
|equity compensation plans not approved by security holders:|2014|2014|2014||
|total|1765510|$ 34.92|7927210|-1 ( 1 )|
( 1 ) also includes shares of common stock available for issuance other than upon the exercise of an option , warrant or right under the global payments inc . 2000 long-term incentive plan , as amended and restated , the global payments inc . amended and restated 2005 incentive plan , amended and restated 2000 non- employee director stock option plan , global payments employee stock purchase plan and the global payments inc . 2011 incentive plan . item 13 2014certain relationships and related transactions , and director independence we incorporate by reference in this item 13 the information regarding certain relationships and related transactions between us and some of our affiliates and the independence of our board of directors contained under the headings 201ccertain relationships and related transactions 201d and 201cother information about the board and its committees 201d from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013 . item 14 2014principal accounting fees and services we incorporate by reference in this item 14 the information regarding principal accounting fees and services contained under the section ratification of the reappointment of auditors from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013. .
Question: if the company were to buy the remaining securities at the average price of $ 34.92 , what would be the total payments from the company?
Answer: | 276818173.2 |
FINQA2995 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis 2011 versus 2010 . net revenues in investing & lending were $ 2.14 billion and $ 7.54 billion for 2011 and 2010 , respectively . during 2011 , investing & lending results reflected an operating environment characterized by a significant decline in equity markets in europe and asia , and unfavorable credit markets that were negatively impacted by increased concerns regarding the weakened state of global economies , including heightened european sovereign debt risk . results for 2011 included a loss of $ 517 million from our investment in the ordinary shares of icbc and net gains of $ 1.12 billion from other investments in equities , primarily in private equities , partially offset by losses from public equities . in addition , investing & lending included net revenues of $ 96 million from debt securities and loans . this amount includes approximately $ 1 billion of unrealized losses related to relationship lending activities , including the effect of hedges , offset by net interest income and net gains from other debt securities and loans . results for 2011 also included other net revenues of $ 1.44 billion , principally related to our consolidated investment entities . results for 2010 included a gain of $ 747 million from our investment in the ordinary shares of icbc , a net gain of $ 2.69 billion from other investments in equities , a net gain of $ 2.60 billion from debt securities and loans and other net revenues of $ 1.51 billion , principally related to our consolidated investment entities . the net gain from other investments in equities was primarily driven by an increase in global equity markets , which resulted in appreciation of both our public and private equity positions and provided favorable conditions for initial public offerings . the net gains and net interest from debt securities and loans primarily reflected the impact of tighter credit spreads and favorable credit markets during the year , which provided favorable conditions for borrowers to refinance . operating expenses were $ 2.67 billion for 2011 , 20% ( 20 % ) lower than 2010 , due to decreased compensation and benefits expenses , primarily resulting from lower net revenues . this decrease was partially offset by the impact of impairment charges related to consolidated investments during 2011 . pre-tax loss was $ 531 million in 2011 , compared with pre-tax earnings of $ 4.18 billion in 2010 . investment management investment management provides investment management services and offers investment products ( primarily through separately managed accounts and commingled vehicles , such as mutual funds and private investment funds ) across all major asset classes to a diverse set of institutional and individual clients . investment management also offers wealth advisory services , including portfolio management and financial counseling , and brokerage and other transaction services to high-net-worth individuals and families . assets under supervision include assets under management and other client assets . assets under management include client assets where we earn a fee for managing assets on a discretionary basis . this includes net assets in our mutual funds , hedge funds , credit funds and private equity funds ( including real estate funds ) , and separately managed accounts for institutional and individual investors . other client assets include client assets invested with third-party managers , private bank deposits and assets related to advisory relationships where we earn a fee for advisory and other services , but do not have discretion over the assets . assets under supervision do not include the self-directed brokerage accounts of our clients . assets under management and other client assets typically generate fees as a percentage of net asset value , which vary by asset class and are affected by investment performance as well as asset inflows and redemptions . in certain circumstances , we are also entitled to receive incentive fees based on a percentage of a fund 2019s return or when the return exceeds a specified benchmark or other performance targets . incentive fees are recognized only when all material contingencies are resolved . the table below presents the operating results of our investment management segment. .
|in millions|year ended december 2012|year ended december 2011|year ended december 2010|
|management and other fees|$ 4105|$ 4188|$ 3956|
|incentive fees|701|323|527|
|transaction revenues|416|523|531|
|total net revenues|5222|5034|5014|
|operating expenses|4294|4020|4082|
|pre-tax earnings|$ 928|$ 1014|$ 932|
56 goldman sachs 2012 annual report .
Question: what were average incentive fees in millions for the three year period?
Answer: | 517.0 |
FINQA2996 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) maturities 2014as of december 31 , 2003 , aggregate principal payments of long-term debt , including capital leases , for the next five years and thereafter are estimated to be ( in thousands ) : year ending december 31 .
|2004|$ 77622|
|2005|115444|
|2006|365051|
|2007|728153|
|2008|808043|
|thereafter|1650760|
|total cash obligations|3745073|
|accreted value of original issue discount of the ati 12.25% ( 12.25 % ) notes|-339601 ( 339601 )|
|accreted value of the related warrants|-44247 ( 44247 )|
|balance as of december 31 2003|$ 3361225|
the holders of the company 2019s convertible notes have the right to require the company to repurchase their notes on specified dates prior to their maturity dates in 2009 and 2010 , but the company may pay the purchase price by issuing shares of class a common stock , subject to certain conditions . obligations with respect to the right of the holders to put the 6.25% ( 6.25 % ) notes and 5.0% ( 5.0 % ) notes have been included in the table above as if such notes mature on the date of their put rights in 2006 and 2007 , respectively . ( see note 19. ) 8 . derivative financial instruments under the terms of the credit facilities , 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 , 2003 are with credit worthy institutions . as of december 31 , 2003 , the company had three interest rate caps outstanding that include an aggregate notional amount of $ 500.0 million ( each at an interest rate of 5% ( 5 % ) ) and expire in 2004 . as of december 31 , 2003 and 2002 , liabilities related to derivative financial instruments of $ 0.0 million and $ 15.5 million are reflected in other long-term liabilities in the accompanying consolidated balance sheet . 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 and a loss of approximately $ 2.2 million for the years ended december 31 , 2002 and 2001 , respectively , which are recorded in loss on investments and other expense in the accompanying consolidated statements of operations for those periods . the company records the changes in fair value of its derivative instruments that are not accounted for as hedges in loss on investments and other expense . the company 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 , 2003. .
Question: as of december 31 , 2003 , what was the percent of the total cash obligations for aggregate principal payments of long-term debt maturities was due in 2005
Answer: | 0.03435 |
FINQA2997 | Please answer the given financial question based on the context.
Context: 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. .
|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 )|
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. .
Question: what was the percentage reduction of the net cash provided by operating activities from 2017 to 2018
Answer: | 0.35915 |
FINQA2998 | Please answer the given financial question based on the context.
Context: for the years ended december a031 , 2018 , 2017 and 2016 , the amounts recognized in principal transactions in the consolidated statement of income related to derivatives not designated in a qualifying hedging relationship , as well as the underlying non-derivative instruments , are presented in note a06 to the consolidated financial statements . citigroup presents this disclosure by showing derivative gains and losses related to its trading activities together with gains and losses related to non-derivative instruments within the same trading portfolios , as this represents how these portfolios are risk managed . the amounts recognized in other revenue in the consolidated statement of income related to derivatives not designated in a qualifying hedging relationship are shown below . the table below does not include any offsetting gains ( losses ) on the economically hedged items to the extent that such amounts are also recorded in other revenue . gains ( losses ) included in other revenue year ended december 31 .
|in millions of dollars|gains ( losses ) included inother revenue year ended december 31 , 2018|gains ( losses ) included inother revenue year ended december 31 , 2017|gains ( losses ) included inother revenue year ended december 31 , 2016|
|interest rate contracts|$ -25 ( 25 )|$ -73 ( 73 )|$ 51|
|foreign exchange|-197 ( 197 )|2062|-847 ( 847 )|
|credit derivatives|-155 ( 155 )|-538 ( 538 )|-1174 ( 1174 )|
|total|$ -377 ( 377 )|$ 1451|$ -1970 ( 1970 )|
accounting for derivative hedging citigroup accounts for its hedging activities in accordance with asc 815 , derivatives and hedging . as a general rule , hedge accounting is permitted where the company is exposed to a particular risk , such as interest rate or foreign exchange risk , that causes changes in the fair value of an asset or liability or variability in the expected future cash flows of an existing asset , liability or a forecasted transaction that may affect earnings . derivative contracts hedging the risks associated with changes in fair value are referred to as fair value hedges , while contracts hedging the variability of expected future cash flows are cash flow hedges . hedges that utilize derivatives or debt instruments to manage the foreign exchange risk associated with equity investments in non-u.s.-dollar-functional- currency foreign subsidiaries ( net investment in a foreign operation ) are net investment hedges . to qualify as an accounting hedge under the hedge accounting rules ( versus an economic hedge where hedge accounting is not applied ) , a hedging relationship must be highly effective in offsetting the risk designated as being hedged . the hedging relationship must be formally documented at inception , detailing the particular risk management objective and strategy for the hedge . this includes the item and risk ( s ) being hedged , the hedging instrument being used and how effectiveness will be assessed . the effectiveness of these hedging relationships is evaluated at hedge inception and on an ongoing basis both on a retrospective and prospective basis , typically using quantitative measures of correlation , with hedge ineffectiveness measured and recorded in current earnings . hedge effectiveness assessment methodologies are performed in a similar manner for similar hedges , and are used consistently throughout the hedging relationships . the assessment of effectiveness may exclude changes in the value of the hedged item that are unrelated to the risks being hedged and the changes in fair value of the derivative associated with time value . prior to january 1 , 2018 , these excluded items were recognized in current earnings for the hedging derivative , while changes in the value of a hedged item that were not related to the hedged risk were not recorded . upon adoption of asc 2017-12 , citi excludes changes in the cross currency basis associated with cross currency swaps from the assessment of hedge effectiveness and records it in other comprehensive income . discontinued hedge accounting a hedging instrument must be highly effective in accomplishing the hedge objective of offsetting either changes in the fair value or cash flows of the hedged item for the risk being hedged . management may voluntarily de-designate an accounting hedge at any time , but if a hedging relationship is not highly effective , it no longer qualifies for hedge accounting and must be de-designated . subsequent changes in the fair value of the derivative are recognized in other revenue or principal transactions , similar to trading derivatives , with no offset recorded related to the hedged item . for fair value hedges , any changes in the fair value of the hedged item remain as part of the basis of the asset or liability and are ultimately realized as an element of the yield on the item . for cash flow hedges , changes in fair value of the end-user derivative remain in accumulated other comprehensive income ( loss ) ( aoci ) and are included in the earnings of future periods when the forecasted hedged cash flows impact earnings . however , if it becomes probable that some or all of the hedged forecasted transactions will not occur , any amounts that remain in aoci related to these transactions must be immediately reflected in other revenue . the foregoing criteria are applied on a decentralized basis , consistent with the level at which market risk is managed , but are subject to various limits and controls . the underlying asset , liability or forecasted transaction may be an individual item or a portfolio of similar items. .
Question: what was the net change in gains from 2017 to 2018
Answer: | -1828.0 |
FINQA2999 | Please answer the given financial question based on the context.
Context: the following table identifies the company 2019s aggregate contractual obligations due by payment period : payments due by period .
||total|less than 1 year|1-3 years|3-5 years|more than 5 years|
|property and casualty obligations [1]|$ 21885|$ 5777|$ 6150|$ 3016|$ 6942|
|life annuity and disability obligations [2]|281998|18037|37318|40255|186388|
|long-term debt obligations [3]|9093|536|1288|1613|5656|
|operating lease obligations|723|175|285|162|101|
|purchase obligations [4] [5]|1764|1614|120|14|16|
|other long-term liabilities reflected onthe balance sheet [6] [7]|1642|1590|2014|52|2014|
|total|$ 317105|$ 27729|$ 45161|$ 45112|$ 199103|
[1] the following points are significant to understanding the cash flows estimated for obligations under property and casualty contracts : reserves for property & casualty unpaid claim and claim adjustment expenses include case reserves for reported claims and reserves for claims incurred but not reported ( ibnr ) . while payments due on claim reserves are considered contractual obligations because they relate to insurance policies issued by the company , the ultimate amount to be paid to settle both case reserves and ibnr is an estimate , subject to significant uncertainty . the actual amount to be paid is not determined until the company reaches a settlement with the claimant . final claim settlements may vary significantly from the present estimates , particularly since many claims will not be settled until well into the future . in estimating the timing of future payments by year , the company has assumed that its historical payment patterns will continue . however , the actual timing of future payments will likely vary materially from these estimates due to , among other things , changes in claim reporting and payment patterns and large unanticipated settlements . in particular , there is significant uncertainty over the claim payment patterns of asbestos and environmental claims . also , estimated payments in 2005 do not include payments that will be made on claims incurred in 2005 on policies that were in force as of december 31 , 2004 . in addition , the table does not include future cash flows related to the receipt of premiums that will be used , in part , to fund loss payments . under generally accepted accounting principles , the company is only permitted to discount reserves for claim and claim adjustment expenses in cases where the payment pattern and ultimate loss costs are fixed and reliably determinable on an individual claim basis . for the company , these include claim settlements with permanently disabled claimants and certain structured settlement contracts that fund loss runoffs for unrelated parties . as of december 31 , 2004 , the total property and casualty reserves in the above table of $ 21885 are gross of the reserve discount of $ 556 . [2] estimated life , annuity and disability obligations include death and disability claims , policy surrenders , policyholder dividends and trail commissions offset by expected future deposits and premiums on in-force contracts . estimated contractual policyholder obligations are based on mortality , morbidity and lapse assumptions comparable with life 2019s historical experience , modified for recent observed trends . life has also assumed market growth and interest crediting consistent with assumptions used in amortizing deferred acquisition costs . in contrast to this table , the majority of life 2019s obligations are recorded on the balance sheet at the current account value , as described in critical accounting estimates , and do not incorporate an expectation of future market growth , interest crediting , or future deposits . therefore , the estimated contractual policyholder obligations presented in this table significantly exceed the liabilities recorded in reserve for future policy benefits and unpaid claims and claim adjustment expenses , other policyholder funds and benefits payable and separate account liabilities . due to the significance of the assumptions used , the amounts presented could materially differ from actual results . as separate account obligations are legally insulated from general account obligations , the separate account obligations will be fully funded by cash flows from separate account assets . life expects to fully fund the general account obligations from cash flows from general account investments and future deposits and premiums . [3] includes contractual principal and interest payments . payments exclude amounts associated with fair-value hedges of certain of the company 2019s long-term debt . all long-term debt obligations have fixed rates of interest . long-term debt obligations also includes principal and interest payments of $ 700 and $ 2.4 billion , respectively , related to junior subordinated debentures which are callable beginning in 2006 . see note 14 of notes to consolidated financial statements for additional discussion of long-term debt obligations . [4] includes $ 1.4 billion in commitments to purchase investments including $ 330 of limited partnerships and $ 299 of mortgage loans . outstanding commitments under these limited partnerships and mortgage loans are included in payments due in less than 1 year since the timing of funding these commitments cannot be estimated . the remaining $ 759 relates to payables for securities purchased which are reflected on the company 2019s consolidated balance sheet . [5] includes estimated contribution of $ 200 to the company 2019s pension plan in 2005 . [6] as of december 31 , 2004 , the company has accepted cash collateral of $ 1.6 billion in connection with the company 2019s securities lending program and derivative instruments . since the timing of the return of the collateral is uncertain , the return of the collateral has been included in the payments due in less than 1 year . [7] includes $ 52 in collateralized loan obligations ( 201cclos 201d ) issued to third-party investors by a consolidated investment management entity sponsored by the company in connection with synthetic clo transactions . the clo investors have no recourse to the company 2019s assets other than the dedicated assets collateralizing the clos . refer to note 4 of notes to consolidated financial statements for additional discussion of .
Question: what portion of total obligations are due within less than 1 year?
Answer: | 0.08744 |
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