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FINQA3100 | Please answer the given financial question based on the context.
Context: certain mortgage loans citigroup has elected the fair value option for certain purchased and originated prime fixed-rate and conforming adjustable-rate first mortgage loans held-for-sale . these loans are intended for sale or securitization and are hedged with derivative instruments . the company has elected the fair value option to mitigate accounting mismatches in cases where hedge .
|in millions of dollars|december 31 2009|december 31 2008|
|carrying amount reported on the consolidated balance sheet|$ 3338|$ 4273|
|aggregate fair value in excess of unpaid principalbalance|55|138|
|balance of non-accrual loans or loans more than 90 days past due|4|9|
|aggregate unpaid principal balance in excess of fair value for non-accrualloans or loans more than 90 days past due|3|2|
the changes in fair values of these mortgage loans are reported in other revenue in the company 2019s consolidated statement of income . the changes in fair value during the years ended december 31 , 2009 and 2008 due to instrument-specific credit risk resulted in a $ 10 million loss and $ 32 million loss , respectively . related interest income continues to be measured based on the contractual interest rates and reported as such in the consolidated statement of income . mortgage servicing rights the company accounts for mortgage servicing rights ( msrs ) at fair value . fair value for msrs is determined using an option-adjusted spread valuation approach . this approach consists of projecting servicing cash flows under multiple interest-rate scenarios and discounting these cash flows using risk-adjusted rates . the model assumptions used in the valuation of msrs include mortgage prepayment speeds and discount rates . the fair value of msrs is primarily affected by changes in prepayments that result from shifts in mortgage interest rates . in managing this risk , the company hedges a significant portion of the values of its msrs through the use of interest-rate derivative contracts , forward-purchase commitments of mortgage-backed securities , and purchased securities classified as trading . see note 23 to the consolidated financial statements for further discussions regarding the accounting and reporting of msrs . these msrs , which totaled $ 6.5 billion and $ 5.7 billion as of december 31 , 2009 and 2008 , respectively , are classified as mortgage servicing rights on citigroup 2019s consolidated balance sheet . changes in fair value of msrs are recorded in commissions and fees in the company 2019s consolidated statement of income . certain structured liabilities the company has elected the fair value option for certain structured liabilities whose performance is linked to structured interest rates , inflation or currency risks ( 201cstructured liabilities 201d ) . the company elected the fair value option , because these exposures are considered to be trading-related positions and , therefore , are managed on a fair value basis . these positions will continue to be classified as debt , deposits or derivatives ( trading account liabilities ) on the company 2019s consolidated balance sheet according to their legal form . for those structured liabilities classified as long-term debt for which the fair value option has been elected , the aggregate unpaid principal balance exceeded the aggregate fair value by $ 125 million and $ 671 million as of december 31 , 2009 and 2008 , respectively . the change in fair value for these structured liabilities is reported in principal transactions in the company 2019s consolidated statement of income . related interest expense is measured based on the contractual interest rates and reported as such in the consolidated income statement . certain non-structured liabilities the company has elected the fair value option for certain non-structured liabilities with fixed and floating interest rates ( 201cnon-structured liabilities 201d ) . the company has elected the fair value option where the interest-rate risk of such liabilities is economically hedged with derivative contracts or the proceeds are used to purchase financial assets that will also be accounted for at fair value through earnings . the election has been made to mitigate accounting mismatches and to achieve operational simplifications . these positions are reported in short-term borrowings and long-term debt on the company 2019s consolidated balance sheet . for those non-structured liabilities classified as short-term borrowings for which the fair value option has been elected , the aggregate unpaid principal balance exceeded the aggregate fair value of such instruments by $ 220 million as of december 31 , 2008 . for non-structured liabilities classified as long-term debt for which the fair value option has been elected , the aggregate unpaid principal balance exceeded the aggregate fair value by $ 1542 million and $ 856 million as of december 31 , 2009 and 2008 , respectively . the change in fair value for these non-structured liabilities is reported in principal transactions in the company 2019s consolidated statement of income . related interest expense continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement . accounting is complex and to achieve operational simplifications . the fair value option was not elected for loans held-for-investment , as those loans are not hedged with derivative instruments . the following table provides information about certain mortgage loans carried at fair value: .
Question: what was the percent of the 2008 to 2009 unpaid principal balance exceeded the aggregate fair value non-structured liabilities classified as long-term debt for which the fair value option has been elected
Answer: | 0.55512 |
FINQA3101 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2014 ( continued ) note 12 2014related party transactions in the course of settling money transfer transactions , we purchase foreign currency from consultoria internacional casa de cambio ( 201ccisa 201d ) , a mexican company partially owned by certain of our employees . as of march 31 , 2008 , mr . ra fal lim f3n cortes , a 10% ( 10 % ) shareholder of cisa , was no longer an employee , and we no longer considered cisa a related party . we purchased 6.1 billion mexican pesos for $ 560.3 million during the ten months ended march 31 , 2008 and 8.1 billion mexican pesos for $ 736.0 million during fiscal 2007 from cisa . we believe these currency transactions were executed at prevailing market exchange rates . also from time to time , money transfer transactions are settled at destination facilities owned by cisa . we incurred related settlement expenses , included in cost of service in the accompanying consolidated statements of income of $ 0.5 million in the ten months ended march 31 , 2008 . in fiscal 2007 and 2006 , we incurred related settlement expenses , included in cost of service in the accompanying consolidated statements of income of $ 0.7 and $ 0.6 million , respectively . in the normal course of business , we periodically utilize the services of contractors to provide software development services . one of our employees , hired in april 2005 , is also an employee , officer , and part owner of a firm that provides such services . the services provided by this firm primarily relate to software development in connection with our planned next generation front-end processing system in the united states . during fiscal 2008 , we capitalized fees paid to this firm of $ 0.3 million . as of may 31 , 2008 and 2007 , capitalized amounts paid to this firm of $ 4.9 million and $ 4.6 million , respectively , were included in property and equipment in the accompanying consolidated balance sheets . in addition , we expensed amounts paid to this firm of $ 0.3 million , $ 0.1 million and $ 0.5 million in the years ended may 31 , 2008 , 2007 and 2006 , respectively . note 13 2014commitments and contingencies leases we conduct a major part of our operations using leased facilities and equipment . many of these leases have renewal and purchase options and provide that we pay the cost of property taxes , insurance and maintenance . rent expense on all operating leases for fiscal 2008 , 2007 and 2006 was $ 30.4 million , $ 27.1 million , and $ 24.4 million , respectively . future minimum lease payments for all noncancelable leases at may 31 , 2008 were as follows : operating leases .
||operating leases|
|2009|$ 22883|
|2010|16359|
|2011|11746|
|2012|5277|
|2013|3365|
|thereafter|7816|
|total future minimum lease payments|$ 67446|
we are party to a number of other claims and lawsuits incidental to our business . in the opinion of management , the reasonably possible outcome of such matters , individually or in the aggregate , will not have a material adverse impact on our financial position , liquidity or results of operations. .
Question: what is the exchange rate pesos to dollar in 2007?
Answer: | -1.34769 |
FINQA3102 | Please answer the given financial question based on the context.
Context: the internal revenue code . therefore , cash needed to execute our strategy and invest in new properties , as well as to pay our debt at maturity , must come from one or more of the following sources : 2022 cash not distributed to shareholders , 2022 proceeds of property dispositions , or 2022 proceeds derived from the issuance of new debt or equity securities . it is management 2019s intention that we continually have access to the capital resources necessary to expand and develop our business . as a result , we intend to operate with and maintain a conservative capital structure that will allow us to maintain strong debt service coverage and fixed-charge coverage ratios as part of our commitment to investment-grade debt ratings . we may , from time to time , seek to obtain funds by the following means : 2022 additional equity offerings , 2022 unsecured debt financing and/or mortgage financings , and 2022 other debt and equity alternatives , including formation of joint ventures , in a manner consistent with our intention to operate with a conservative debt structure . cash and cash equivalents were $ 30.5 million and $ 35.0 million at december 31 , 2004 and december 31 , 2003 , respectively . summary of cash flows for the year ended december 31 , 2004 ( in thousands ) .
||for the year ended december 31 2004 ( in thousands )|
|cash provided by operating activities|$ 161113|
|cash used in investing activities|-154273 ( 154273 )|
|cash used by financing activities|-11333 ( 11333 )|
|decrease in cash and cash equivalents|-4493 ( 4493 )|
|cash and cash equivalents beginning of period|34968|
|cash and cash equivalents end of period|$ 30475|
the cash provided by operating activities is primarily attributable to the operation of our properties and the change in working capital related to our operations . we used cash of $ 154.3 million during the twelve months ended december 31 , 2004 in investing activities , including the following : 2022 $ 101.7 million for our acquisition of westgate mall , shaw 2019s plaza and several parcels of land , 2022 capital expenditures of $ 59.2 million for development and redevelopment of properties including santana row , 2022 maintenance capital expenditures of approximately $ 36.9 million , 2022 $ 9.4 million capital contribution to a real estate partnership , and 2022 an additional $ 3.2 million net advance under an existing mortgage note receivable ; offset by 2022 $ 41.8 million in net sale proceeds from the sale of properties , and .
Question: what are the percentage of the acquisition of westgate mall , shaw 2019s plaza , and several parcels of land in the investing activities?\\n
Answer: | 0.65911 |
FINQA3103 | 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 . the company 2019s common stock is listed on the new york stock exchange where it trades under the symbol aa . the company 2019s quarterly high and low trading stock prices and dividends per common share for 2015 and 2014 are shown below. .
|quarter|2015 high|2015 low|2015 dividend|2015 high|2015 low|dividend|
|first|$ 17.10|$ 12.65|$ 0.03|$ 12.97|$ 9.82|$ 0.03|
|second|14.29|11.15|0.03|15.18|12.34|0.03|
|third|11.23|7.97|0.03|17.36|14.56|0.03|
|fourth|11.18|7.81|0.03|17.75|13.71|0.03|
|year|17.10|7.81|$ 0.12|17.75|9.82|$ 0.12|
the number of holders of record of common stock was approximately 10101 as of february 11 , 2016. .
Question: what is the decrease observed in the high trading stock prices in the first and second quarters in 2015?
Answer: | 2.81 |
FINQA3104 | Please answer the given financial question based on the context.
Context: entergy texas , inc . and subsidiaries management 2019s financial discussion and analysis in addition to the contractual obligations given above , entergy texas expects to contribute approximately $ 17 million to its qualified pension plans and approximately $ 3.2 million to other postretirement health care and life insurance plans in 2017 , although the 2017 required pension contributions will be known with more certainty when the january 1 , 2017 valuations are completed , which is expected by april 1 , 2017 . see 201ccritical accounting estimates - qualified pension and other postretirement benefits 201d below for a discussion of qualified pension and other postretirement benefits funding . also in addition to the contractual obligations , entergy texas has $ 15.6 million of unrecognized tax benefits and interest net of unused tax attributes and payments for which the timing of payments beyond 12 months cannot be reasonably estimated due to uncertainties in the timing of effective settlement of tax positions . see note 3 to the financial statements for additional information regarding unrecognized tax benefits . in addition to routine capital spending to maintain operations , the planned capital investment estimate for entergy texas includes specific investments such as the montgomery county power station discussed below ; transmission projects to enhance reliability , reduce congestion , and enable economic growth ; distribution spending to enhance reliability and improve service to customers , including initial investment to support advanced metering ; system improvements ; and other investments . estimated capital expenditures are subject to periodic review and modification and may vary based on the ongoing effects of regulatory constraints and requirements , environmental compliance , business opportunities , market volatility , economic trends , business restructuring , changes in project plans , and the ability to access capital . management provides more information on long-term debt in note 5 to the financial statements . as discussed above in 201ccapital structure , 201d entergy texas routinely evaluates its ability to pay dividends to entergy corporation from its earnings . sources of capital entergy texas 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt or preferred stock issuances ; and 2022 bank financing under new or existing facilities . entergy texas may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable . all debt and common and preferred stock issuances by entergy texas require prior regulatory approval . debt issuances are also subject to issuance tests set forth in its bond indenture and other agreements . entergy texas has sufficient capacity under these tests to meet its foreseeable capital needs . entergy texas 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. .
|2016|2015|2014|2013|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 681|( $ 22068 )|$ 306|$ 6287|
see note 4 to the financial statements for a description of the money pool . entergy texas has a credit facility in the amount of $ 150 million scheduled to expire in august 2021 . the credit facility allows entergy texas to issue letters of credit against 50% ( 50 % ) of the borrowing capacity of the facility . as of december 31 , 2016 , there were no cash borrowings and $ 4.7 million of letters of credit outstanding under the credit facility . in addition , entergy texas is a party to an uncommitted letter of credit facility as a means to post collateral .
Question: what is the net change in entergy texas 2019s receivables from the money pool from 2014 to 2015?
Answer: | -22374.0 |
FINQA3105 | Please answer the given financial question based on the context.
Context: page 27 of 100 other liquidity items cash payments required for long-term debt maturities , rental payments under noncancellable operating leases , purchase obligations and other commitments in effect at december 31 , 2010 , are summarized in the following table: .
|( $ in millions )|payments due by period ( a ) total|payments due by period ( a ) less than1 year|payments due by period ( a ) 1-3 years|payments due by period ( a ) 3-5 years|payments due by period ( a ) more than5 years|
|long-term debt including capital leases|$ 2750.1|$ 34.5|$ 188.3|$ 367.1|$ 2160.2|
|interest payments on long-term debt ( b )|1267.5|160.5|316.4|304.2|486.4|
|operating leases|93.2|31.1|37.1|16.6|8.4|
|purchase obligations ( c )|6586.9|2709.5|3779.4|98.0|2212|
|total payments on contractual obligations|$ 10697.7|$ 2935.6|$ 4321.2|$ 785.9|$ 2655.0|
total payments on contractual obligations $ 10697.7 $ 2935.6 $ 4321.2 $ 785.9 $ 2655.0 ( a ) amounts reported in local currencies have been translated at the year-end 2010 exchange rates . ( b ) for variable rate facilities , amounts are based on interest rates in effect at year end and do not contemplate the effects of hedging instruments . ( c ) the company 2019s purchase obligations include contracted amounts for aluminum , steel and other direct materials . also included are commitments for purchases of natural gas and electricity , aerospace and technologies contracts and other less significant items . in cases where variable prices and/or usage are involved , management 2019s best estimates have been used . depending on the circumstances , early termination of the contracts may or may not result in penalties and , therefore , actual payments could vary significantly . the table above does not include $ 60.1 million of uncertain tax positions , the timing of which is uncertain . contributions to the company 2019s defined benefit pension plans , not including the unfunded german plans , are expected to be in the range of $ 30 million in 2011 . this estimate may change based on changes in the pension protection act and actual plan asset performance , among other factors . benefit payments related to these plans are expected to be $ 71.4 million , $ 74.0 million , $ 77.1 million , $ 80.3 million and $ 84.9 million for the years ending december 31 , 2011 through 2015 , respectively , and a total of $ 483.1 million for the years 2016 through 2020 . payments to participants in the unfunded german plans are expected to be between $ 21.8 million ( 20ac16.5 million ) to $ 23.2 million ( 20ac17.5 million ) in each of the years 2011 through 2015 and a total of $ 102.7 million ( 20ac77.5 million ) for the years 2016 through 2020 . for the u.s . pension plans in 2011 , we changed our return on asset assumption to 8.00 percent ( from 8.25 percent in 2010 ) and our discount rate assumption to an average of 5.55 percent ( from 6.00 percent in 2010 ) . based on the changes in assumptions , pension expense in 2011 is anticipated to be relatively flat compared to 2010 . a reduction of the expected return on pension assets assumption by a quarter of a percentage point would result in an estimated $ 2.9 million increase in the 2011 global pension expense , while a quarter of a percentage point reduction in the discount rate applied to the pension liability would result in an estimated $ 3.5 million of additional pension expense in 2011 . additional information regarding the company 2019s pension plans is provided in note 14 accompanying the consolidated financial statements within item 8 of this report . annual cash dividends paid on common stock were 20 cents per share in 2010 , 2009 and 2008 . total dividends paid were $ 35.8 million in 2010 , $ 37.4 million in 2009 and $ 37.5 million in 2008 . on january 26 , 2011 , the company 2019s board of directors approved an increase in the quarterly dividends to 7 cents per share . share repurchases our share repurchases , net of issuances , totaled $ 506.7 million in 2010 , $ 5.1 million in 2009 and $ 299.6 million in 2008 . on november 2 , 2010 , we acquired 2775408 shares of our publicly held common stock in a private transaction for $ 88.8 million . on february 17 , 2010 , we entered into an accelerated share repurchase agreement to buy $ 125.0 million of our common shares using cash on hand and available borrowings . we advanced the $ 125.0 million on february 22 , 2010 , and received 4323598 shares , which represented 90 percent of the total shares as calculated using the previous day 2019s closing price . the agreement was settled on may 20 , 2010 , and the company received an additional 398206 shares . net repurchases in 2008 included a $ 31 million settlement on january 7 , 2008 , of a forward contract entered into in december 2007 for the repurchase of 1350000 shares . from january 1 through february 24 , 2011 , ball repurchased an additional $ 143.3 million of its common stock. .
Question: what percentage of total cash payments required for long-term debt maturities , rental payments under noncancellable operating leases , purchase obligations and other commitments in effect at december 31 , 2010 are comprised of purchase obligations?
Answer: | 0.61573 |
FINQA3106 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries notes to consolidated financial statements commercial lending . the firm 2019s commercial lending commitments are extended to investment-grade and non-investment-grade corporate borrowers . commitments to investment-grade corporate borrowers are principally used for operating liquidity and general corporate purposes . the firm also extends lending commitments in connection with contingent acquisition financing and other types of corporate lending , as well as commercial real estate financing . commitments that are extended for contingent acquisition financing are often intended to be short-term in nature , as borrowers often seek to replace them with other funding sources . sumitomo mitsui financial group , inc . ( smfg ) provides the firm with credit loss protection on certain approved loan commitments ( primarily investment-grade commercial lending commitments ) . the notional amount of such loan commitments was $ 25.70 billion and $ 26.88 billion as of december 2017 and december 2016 , respectively . the credit loss protection on loan commitments provided by smfg is generally limited to 95% ( 95 % ) of the first loss the firm realizes on such commitments , up to a maximum of approximately $ 950 million . in addition , subject to the satisfaction of certain conditions , upon the firm 2019s request , smfg will provide protection for 70% ( 70 % ) of additional losses on such commitments , up to a maximum of $ 1.13 billion , of which $ 550 million and $ 768 million of protection had been provided as of december 2017 and december 2016 , respectively . the firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by smfg . these instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity , or credit default swaps that reference a market index . warehouse financing . the firm provides financing to clients who warehouse financial assets . these arrangements are secured by the warehoused assets , primarily consisting of retail and corporate loans . contingent and forward starting collateralized agreements / forward starting collateralized financings contingent and forward starting collateralized agreements includes resale and securities borrowing agreements , and forward starting collateralized financings includes repurchase and secured lending agreements that settle at a future date , generally within three business days . the firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements . the firm 2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused . letters of credit the firm has commitments under letters of credit issued by various banks which the firm provides to counterparties in lieu of securities or cash to satisfy various collateral and margin deposit requirements . investment commitments investment commitments includes commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages . investment commitments included $ 2.09 billion and $ 2.10 billion as of december 2017 and december 2016 , respectively , related to commitments to invest in funds managed by the firm . if these commitments are called , they would be funded at market value on the date of investment . leases the firm has contractual obligations under long-term noncancelable lease agreements for office space expiring on various dates through 2069 . certain agreements are subject to periodic escalation provisions for increases in real estate taxes and other charges . the table below presents future minimum rental payments , net of minimum sublease rentals . $ in millions december 2017 .
|$ in millions|as of december 2017|
|2018|$ 299|
|2019|282|
|2020|262|
|2021|205|
|2022|145|
|2023 - thereafter|771|
|total|$ 1964|
rent charged to operating expenses was $ 273 million for 2017 , $ 244 million for 2016 and $ 249 million for 2015 . goldman sachs 2017 form 10-k 163 .
Question: rent charged to operating expenses was what percent of future minimum rental payments , net of minimum sublease rentals , for 2017?
Answer: | 0.139 |
FINQA3107 | Please answer the given financial question based on the context.
Context: sacramento container acquisition in october 2017 , pca acquired substantially all of the assets of sacramento container corporation , and 100% ( 100 % ) of the membership interests of northern sheets , llc and central california sheets , llc ( collectively referred to as 201csacramento container 201d ) for a purchase price of $ 274 million , including working capital adjustments . funding for the acquisition came from available cash on hand . assets acquired include full-line corrugated products and sheet feeder operations in both mcclellan , california and kingsburg , california . sacramento container provides packaging solutions to customers serving portions of california 2019s strong agricultural market . sacramento container 2019s financial results are included in the packaging segment from the date of acquisition . the company accounted for the sacramento container acquisition using the acquisition method of accounting in accordance with asc 805 , business combinations . the total purchase price has been allocated to tangible and intangible assets acquired and liabilities assumed based on respective fair values , as follows ( dollars in millions ) : .
||12/31/17 allocation|adjustments|revised allocation|
|goodwill|$ 151.1|$ 5.5|$ 156.6|
|other intangible assets|72.6|-5.5 ( 5.5 )|67.1|
|property plant and equipment|26.7|2014|26.7|
|other net assets|23.4|2014|23.4|
|net assets acquired|$ 273.8|$ 2014|$ 273.8|
during the second quarter ended june 30 , 2018 , we made a $ 5.5 million net adjustment based on the final valuation of the intangible assets . we recorded the adjustment as a decrease to other intangible assets with an offset to goodwill . goodwill is calculated as the excess of the purchase price over the fair value of the net assets acquired . among the factors that contributed to the recognition of goodwill were sacramento container 2019s commitment to continuous improvement and regional synergies , as well as the expected increases in pca 2019s containerboard integration levels . goodwill is deductible for tax purposes . other intangible assets , primarily customer relationships , were assigned an estimated weighted average useful life of 9.6 years . property , plant and equipment were assigned estimated useful lives ranging from one to 13 years. .
Question: for the revised total purchase price allocation , property plant and equipment was what percentage of net assets acquired?
Answer: | 0.09752 |
FINQA3108 | Please answer the given financial question based on the context.
Context: domestic utility companies and system energy notes to respective financial statements protested the disallowance of these deductions to the office of irs appeals . entergy expects to receive a notice of deficiency in 2005 for this item , and plans to vigorously contest this matter . entergy believes that the contingency provision established in its financial statements sufficiently covers the risk associated with this item . mark to market of certain power contracts in 2001 , entergy louisiana changed its method of accounting for tax purposes related to its wholesale electric power contracts . the most significant of these is the contract to purchase power from the vidalia hydroelectric project . the new tax accounting method has provided a cumulative cash flow benefit of approximately $ 790 million as of december 31 , 2004 . the related irs interest exposure is $ 93 million at december 31 , 2004 . this benefit is expected to reverse in the years 2005 through 2031 . the election did not reduce book income tax expense . the timing of the reversal of this benefit depends on several variables , including the price of power . due to the temporary nature of the tax benefit , the potential interest charge represents entergy's net earnings exposure . entergy louisiana's 2001 tax return is currently under examination by the irs , though no adjustments have yet been proposed with respect to the mark to market election . entergy believes that the contingency provision established in its financial statements will sufficiently cover the risk associated with this issue . cashpoint bankruptcy ( entergy arkansas , entergy gulf states , entergy louisiana , entergy mississippi , and entergy new orleans ) in 2003 the domestic utility companies entered an agreement with cashpoint network services ( cashpoint ) under which cashpoint was to manage a network of payment agents through which entergy's utility customers could pay their bills . the payment agent system allows customers to pay their bills at various commercial or governmental locations , rather than sending payments by mail . approximately one-third of entergy's utility customers use payment agents . on april 19 , 2004 , cashpoint failed to pay funds due to the domestic utility companies that had been collected through payment agents . the domestic utility companies then obtained a temporary restraining order from the civil district court for the parish of orleans , state of louisiana , enjoining cashpoint from distributing funds belonging to entergy , except by paying those funds to entergy . on april 22 , 2004 , a petition for involuntary chapter 7 bankruptcy was filed against cashpoint by other creditors in the united states bankruptcy court for the southern district of new york . in response to these events , the domestic utility companies expanded an existing contract with another company to manage all of their payment agents . the domestic utility companies filed proofs of claim in the cashpoint bankruptcy proceeding in september 2004 . although entergy cannot precisely determine at this time the amount that cashpoint owes to the domestic utility companies that may not be repaid , it has accrued an estimate of loss based on current information . if no cash is repaid to the domestic utility companies , an event entergy does not believe is likely , the current estimates of maximum exposure to loss are approximately as follows : amount ( in millions ) .
||amount ( in millions )|
|entergy arkansas|$ 1.8|
|entergy gulf states|$ 7.7|
|entergy louisiana|$ 8.8|
|entergy mississippi|$ 4.3|
|entergy new orleans|$ 2.4|
environmental issues ( entergy gulf states ) entergy gulf states has been designated as a prp for the cleanup of certain hazardous waste disposal sites . as of december 31 , 2004 , entergy gulf states does not expect the remaining clean-up costs to exceed its recorded liability of $ 1.5 million for the remaining sites at which the epa has designated entergy gulf states as a prp. .
Question: what is the recorded liability of remaining clean-up costs as of december 31 , 2004 as a percentage of the current estimates of maximum exposure to loss for entergy gulf states?
Answer: | 0.19481 |
FINQA3109 | Please answer the given financial question based on the context.
Context: the company orders components for its products and builds inventory in advance of product shipments . because the company 2019s markets are volatile and subject to rapid technology and price changes , there is a risk the company will forecast incorrectly and produce or order from third-parties excess or insufficient inventories of particular products or components . the company 2019s operating results and financial condition in the past have been and may in the future be materially adversely affected by the company 2019s ability to manage its inventory levels and outstanding purchase commitments and to respond to short-term shifts in customer demand patterns . gross margin declined in 2004 to 27.3% ( 27.3 % ) of net sales from 27.5% ( 27.5 % ) of net sales in 2003 . the company 2019s gross margin during 2004 declined due to an increase in mix towards lower margin ipod and ibook sales , pricing actions on certain power macintosh g5 models that were transitioned during the beginning of 2004 , higher warranty costs on certain portable macintosh products , and higher freight and duty costs during 2004 . these unfavorable factors were partially offset by an increase in direct sales and a 39% ( 39 % ) year-over-year increase in higher margin software sales . operating expenses operating expenses for each of the last three fiscal years are as follows ( in millions , except for percentages ) : september 24 , september 25 , september 27 , 2005 2004 2003 .
||september 24 2005|september 25 2004|september 27 2003|
|research and development|$ 534|$ 489|$ 471|
|percentage of net sales|4% ( 4 % )|6% ( 6 % )|8% ( 8 % )|
|selling general and administrative expenses|$ 1859|$ 1421|$ 1212|
|percentage of net sales|13% ( 13 % )|17% ( 17 % )|20% ( 20 % )|
|restructuring costs|$ 2014|$ 23|$ 26|
research and development ( r&d ) the company recognizes that focused investments in r&d are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the company 2019s core business strategy . the company has historically relied upon innovation to remain competitive . r&d expense amounted to approximately 4% ( 4 % ) of total net sales during 2005 down from 6% ( 6 % ) and 8% ( 8 % ) of total net sales in 2004 and 2003 , respectively . this decrease is due to the significant increase of 68% ( 68 % ) in total net sales of the company for 2005 . although r&d expense decreased as a percentage of total net sales in 2005 , actual expense for r&d in 2005 increased $ 45 million or 9% ( 9 % ) from 2004 , which follows an $ 18 million or 4% ( 4 % ) increase in 2004 compared to 2003 . the overall increase in r&d expense relates primarily to increased headcount and support for new product development activities and the impact of employee salary increases in 2005 . r&d expense does not include capitalized software development costs of approximately $ 29.7 million related to the development of mac os x tiger during 2005 ; $ 4.5 million related to the development of mac os x tiger and $ 2.3 million related to the development of filemaker pro 7 in 2004 ; and $ 14.7 million related to the development of mac os x panther in 2003 . further information related to the company 2019s capitalization of software development costs may be found in part ii , item 8 of this form 10-k at note 1 of notes to consolidated financial statements . selling , general , and administrative expense ( sg&a ) expenditures for sg&a increased $ 438 million or 31% ( 31 % ) during 2005 compared to 2004 . these increases are due primarily to the company 2019s continued expansion of its retail segment in both domestic and international markets , a current year increase in discretionary spending on marketing and advertising , and higher direct and channel selling expenses resulting from the increase in net sales and employee salary .
Question: research and development were what percent of\\nselling general and administrative expenses in 2005?
Answer: | 0.28725 |
FINQA3110 | Please answer the given financial question based on the context.
Context: fixed-price purchase options available in the leases could potentially provide benefits to us ; however , these benefits are not expected to be significant . we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry . as such , we have no control over activities that could materially impact the fair value of the leased assets . we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies . additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase price options are not considered to be potentially significant to the vie 2019s . the future minimum lease payments associated with the vie leases totaled $ 3.6 billion as of december 31 , 2012 . 16 . leases we lease certain locomotives , freight cars , and other property . the consolidated statements of financial position as of december 31 , 2012 and 2011 included $ 2467 million , net of $ 966 million of accumulated depreciation , and $ 2458 million , net of $ 915 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2012 , were as follows : millions operating leases capital leases .
|millions|operatingleases|capitalleases|
|2013|$ 525|$ 282|
|2014|466|265|
|2015|410|253|
|2016|375|232|
|2017|339|243|
|later years|2126|1166|
|total minimum leasepayments|$ 4241|$ 2441|
|amount representing interest|n/a|-593 ( 593 )|
|present value of minimum leasepayments|n/a|$ 1848|
approximately 94% ( 94 % ) of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 631 million in 2012 , $ 637 million in 2011 , and $ 624 million in 2010 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant . 17 . commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries . we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity ; however , to the extent possible , where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated , we have recorded a liability . we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use an actuarial analysis to measure the expense and liability , including unasserted claims . the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents . under fela , damages .
Question: if vies were consolidated , what would the total minimum lease payments increase to , in millions?
Answer: | 10282.0 |
FINQA3111 | Please answer the given financial question based on the context.
Context: stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , scripps network interactive , inc . ( acquired by the company in march 2018 ) , time warner , inc . ( acquired by at&t inc . in june 2018 ) , twenty-first century fox , inc . class a common stock ( news corporation class a common stock prior to june 2013 ) , viacom , inc . class b common stock and the walt disney company . the graph assumes $ 100 originally invested on december 31 , 2013 in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the years ended december 31 , 2014 , 2015 , 2016 , 2017 and 2018 . two peer companies , scripps networks interactive , inc . and time warner , inc. , were acquired in 2018 . the stock performance chart shows the peer group including scripps networks interactive , inc . and time warner , inc . and excluding both acquired companies for the entire five year period . december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
||december 312013|december 312014|december 312015|december 312016|december 312017|december 312018|
|disca|$ 100.00|$ 74.58|$ 57.76|$ 59.34|$ 48.45|$ 53.56|
|discb|$ 100.00|$ 80.56|$ 58.82|$ 63.44|$ 53.97|$ 72.90|
|disck|$ 100.00|$ 80.42|$ 60.15|$ 63.87|$ 50.49|$ 55.04|
|s&p 500|$ 100.00|$ 111.39|$ 110.58|$ 121.13|$ 144.65|$ 135.63|
|peer group incl . acquired companies|$ 100.00|$ 116.64|$ 114.02|$ 127.96|$ 132.23|$ 105.80|
|peer group ex . acquired companies|$ 100.00|$ 113.23|$ 117.27|$ 120.58|$ 127.90|$ 141.58|
equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2019 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference. .
Question: did the k series 5 year total return outperform the s&p 500?
Answer: | no |
FINQA3112 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2014 ( continued ) the following table summarizes the changes in non-vested restricted stock awards for the year ended may 31 , 2009 ( share awards in thousands ) : share awards weighted average grant-date fair value .
||share awards|weighted average grant-date fair value|
|non-vested at may 31 2007|278|$ 37|
|granted|400|38|
|vested|-136 ( 136 )|30|
|forfeited|-24 ( 24 )|40|
|non-vested at may 31 2008|518|39|
|granted|430|43|
|vested|-159 ( 159 )|39|
|forfeited|-27 ( 27 )|41|
|non-vested at may 31 2009|762|42|
the weighted average grant-date fair value of share awards granted in the years ended may 31 , 2008 and 2007 was $ 38 and $ 45 , respectively . the total fair value of share awards vested during the years ended may 31 , 2009 , 2008 and 2007 was $ 6.2 million , $ 4.1 million and $ 1.7 million , respectively . we recognized compensation expense for restricted stock of $ 9.0 million , $ 5.7 million , and $ 2.7 million in the years ended may 31 , 2009 , 2008 and 2007 . as of may 31 , 2009 , there was $ 23.5 million of total unrecognized compensation cost related to unvested restricted stock awards that is expected to be recognized over a weighted average period of 2.9 years . employee stock purchase plan we have an employee stock purchase plan under which the sale of 2.4 million shares of our common stock has been authorized . employees may designate up to the lesser of $ 25000 or 20% ( 20 % ) of their annual compensation for the purchase of stock . the price for shares purchased under the plan is 85% ( 85 % ) of the market value on the last day of the quarterly purchase period . as of may 31 , 2009 , 0.8 million shares had been issued under this plan , with 1.6 million shares reserved for future issuance . the weighted average grant-date fair value of each designated share purchased under this plan was $ 6 , $ 6 and $ 8 in the years ended may 31 , 2009 , 2008 and 2007 , respectively . these values represent the fair value of the 15% ( 15 % ) discount . note 12 2014segment information general information during fiscal 2009 , we began assessing our operating performance using a new segment structure . we made this change as a result of our june 30 , 2008 acquisition of 51% ( 51 % ) of hsbc merchant services llp in the united kingdom , in addition to anticipated future international expansion . beginning with the quarter ended august 31 , 2008 , the reportable segments are defined as north america merchant services , international merchant services , and money transfer . the following tables reflect these changes and such reportable segments for fiscal years 2009 , 2008 , and 2007. .
Question: what is the total value of non-vested shares as of may 31 , 2008 , ( in millions ) ?
Answer: | 20.202 |
FINQA3113 | Please answer the given financial question based on the context.
Context: page 71 of 94 notes to consolidated financial statements ball corporation and subsidiaries 16 . shareholders 2019 equity ( continued ) on october 24 , 2007 , ball announced the discontinuance of the company 2019s discount on the reinvestment of dividends associated with the company 2019s dividend reinvestment and voluntary stock purchase plan for non- employee shareholders . the 5 percent discount was discontinued on november 1 , 2007 . accumulated other comprehensive earnings ( loss ) the activity related to accumulated other comprehensive earnings ( loss ) was as follows : ( $ in millions ) foreign currency translation pension and postretirement items , net of tax effective financial derivatives , net of tax accumulated comprehensive earnings ( loss ) .
|( $ in millions )|foreign currency translation|pension and other postretirement items net of tax|effective financial derivatives net of tax|accumulated other comprehensive earnings ( loss )|
|december 31 2004|$ 148.9|$ -126.3 ( 126.3 )|$ 10.6|$ 33.2|
|2005 change|-74.3 ( 74.3 )|-43.6 ( 43.6 )|-16.0 ( 16.0 )|-133.9 ( 133.9 )|
|december 31 2005|74.6|-169.9 ( 169.9 )|-5.4 ( 5.4 )|-100.7 ( 100.7 )|
|2006 change|57.2|55.9|6.0|119.1|
|effect of sfas no . 158 adoption ( a )|2013|-47.9 ( 47.9 )|2013|-47.9 ( 47.9 )|
|december 31 2006|131.8|-161.9 ( 161.9 )|0.6|-29.5 ( 29.5 )|
|2007 change|90.0|57.9|-11.5 ( 11.5 )|136.4|
|december 31 2007|$ 221.8|$ -104.0 ( 104.0 )|$ -10.9 ( 10.9 )|$ 106.9|
( a ) within the company 2019s 2006 annual report , the consolidated statement of changes in shareholders 2019 equity for the year ended december 31 , 2006 , included a transition adjustment of $ 47.9 million , net of tax , related to the adoption of sfas no . 158 , 201cemployers 2019 accounting for defined benefit pension plans and other postretirement plans , an amendment of fasb statements no . 87 , 88 , 106 and 132 ( r ) , 201d as a component of 2006 comprehensive earnings rather than only as an adjustment to accumulated other comprehensive loss . the 2006 amounts have been revised to correct the previous reporting . notwithstanding the 2005 distribution pursuant to the jobs act , management 2019s intention is to indefinitely reinvest foreign earnings . therefore , no taxes have been provided on the foreign currency translation component for any period . the change in the pension and other postretirement items is presented net of related tax expense of $ 31.3 million and $ 2.9 million for 2007 and 2006 , respectively , and a related tax benefit of $ 27.3 million for 2005 . the change in the effective financial derivatives is presented net of related tax benefit of $ 3.2 million for 2007 , related tax expense of $ 5.7 million for 2006 and related tax benefit of $ 10.7 million for 2005 . stock-based compensation programs effective january 1 , 2006 , ball adopted sfas no . 123 ( revised 2004 ) , 201cshare based payment , 201d which is a revision of sfas no . 123 and supersedes apb opinion no . 25 . the new standard establishes accounting standards for transactions in which an entity exchanges its equity instruments for goods or services , including stock option and restricted stock grants . the major differences for ball are that ( 1 ) expense is now recorded in the consolidated statements of earnings for the fair value of new stock option grants and nonvested portions of grants made prior to january 1 , 2006 , and ( 2 ) the company 2019s deposit share program ( discussed below ) is no longer a variable plan that is marked to current market value each month through earnings . upon adoption of sfas no . 123 ( revised 2004 ) , ball has chosen to use the modified prospective transition method and the black-scholes valuation model. .
Question: what was the net tax expense in millions for the three year period ended in 2007 relate to the change in the pension and other postretirement items?
Answer: | 6.9 |
FINQA3114 | Please answer the given financial question based on the context.
Context: customary conditions . we will retain a 20% ( 20 % ) equity interest in the joint venture . as of december 31 , 2008 , the joint venture has acquired seven properties from us and we received year-to-date net sale proceeds and financing distributions of approximately $ 251.6 million . in january 2008 , we sold a tract of land to an unconsolidated joint venture in which we hold a 50% ( 50 % ) equity interest and received a distribution , commensurate to our partner 2019s 50% ( 50 % ) ownership interest , of approximately $ 38.3 million . in november 2008 , that unconsolidated joint venture entered a loan agreement with a consortium of banks and distributed a portion of the loan proceeds to us and our partner , with our share of the distribution totaling $ 20.4 million . uses of liquidity our principal uses of liquidity include the following : 2022 property investment ; 2022 recurring leasing/capital costs ; 2022 dividends and distributions to shareholders and unitholders ; 2022 long-term debt maturities ; 2022 opportunistic repurchases of outstanding debt ; and 2022 other contractual obligations . property investment we evaluate development and acquisition opportunities based upon market outlook , supply and long-term growth potential . our ability to make future property investments is dependent upon our continued access to our longer-term sources of liquidity including the issuances of debt or equity securities as well as disposing of selected properties . in light of current economic conditions , management continues to evaluate our investment priorities and we are limiting new development expenditures . recurring expenditures one of our principal uses of our liquidity is to fund the recurring leasing/capital expenditures of our real estate investments . the following is a summary of our recurring capital expenditures for the years ended december 31 , 2008 , 2007 and 2006 , respectively ( in thousands ) : .
||2008|2007|2006|
|recurring tenant improvements|$ 36885|$ 45296|$ 41895|
|recurring leasing costs|28205|32238|32983|
|building improvements|9724|8402|8122|
|totals|$ 74814|$ 85936|$ 83000|
dividends and distributions in order to qualify as a reit for federal income tax purposes , we must currently distribute at least 90% ( 90 % ) of our taxable income to shareholders . because depreciation is a non-cash expense , cash flow will typically be greater than operating income . we paid dividends per share of $ 1.93 , $ 1.91 and $ 1.89 for the years ended december 31 , 2008 , 2007 and 2006 , respectively . we expect to continue to distribute taxable earnings to meet the requirements to maintain our reit status . however , distributions are declared at the discretion of our board of directors and are subject to actual cash available for distribution , our financial condition , capital requirements and such other factors as our board of directors deems relevant . in january 2009 , our board of directors resolved to decrease our annual dividend from $ 1.94 per share to $ 1.00 per share in order to retain additional cash to help meet our capital needs . we anticipate retaining additional cash of approximately $ 145.2 million per year , when compared to an annual dividend of $ 1.94 per share , as the result of this action . at december 31 , 2008 we had six series of preferred shares outstanding . the annual dividend rates on our preferred shares range between 6.5% ( 6.5 % ) and 8.375% ( 8.375 % ) and are paid in arrears quarterly. .
Question: in 2008 what was the percent of the recurring capital expenditures associated with leasing costs
Answer: | 0.377 |
FINQA3115 | Please answer the given financial question based on the context.
Context: marathon oil corporation notes to consolidated financial statements stock appreciation rights 2013 prior to 2005 , we granted sars under the 2003 plan . no stock appreciation rights have been granted under the 2007 plan . similar to stock options , stock appreciation rights represent the right to receive a payment equal to the excess of the fair market value of shares of common stock on the date the right is exercised over the grant price . under the 2003 plan , certain sars were granted as stock-settled sars and others were granted in tandem with stock options . in general , sars granted under the 2003 plan vest ratably over a three-year period and have a maximum term of ten years from the date they are granted . stock-based performance awards 2013 prior to 2005 , we granted stock-based performance awards under the 2003 plan . no stock-based performance awards have been granted under the 2007 plan . beginning in 2005 , we discontinued granting stock-based performance awards and instead now grant cash-settled performance units to officers . all stock-based performance awards granted under the 2003 plan have either vested or been forfeited . as a result , there are no outstanding stock-based performance awards . restricted stock 2013 we grant restricted stock and restricted stock units under the 2007 plan and previously granted such awards under the 2003 plan . in 2005 , the compensation committee began granting time-based restricted stock to certain u.s.-based officers of marathon and its consolidated subsidiaries as part of their annual long-term incentive package . the restricted stock awards to officers vest three years from the date of grant , contingent on the recipient 2019s continued employment . we also grant restricted stock to certain non-officer employees and restricted stock units to certain international employees ( 201crestricted stock awards 201d ) , based on their performance within certain guidelines and for retention purposes . the restricted stock awards to non-officers generally vest in one-third increments over a three-year period , contingent on the recipient 2019s continued employment , however , certain restricted stock awards granted in 2008 will vest over a four-year period , contingent on the recipient 2019s continued employment . prior to vesting , all restricted stock recipients have the right to vote such stock and receive dividends thereon . the non-vested shares are not transferable and are held by our transfer agent . common stock units 2013 we maintain an equity compensation program for our non-employee directors under the 2007 plan and previously maintained such a program under the 2003 plan . all non-employee directors other than the chairman receive annual grants of common stock units , and they are required to hold those units until they leave the board of directors . when dividends are paid on marathon common stock , directors receive dividend equivalents in the form of additional common stock units . total stock-based compensation expense total employee stock-based compensation expense was $ 43 million , $ 66 million and $ 78 million in 2008 , 2007 and 2006 . the total related income tax benefits were $ 16 million , $ 24 million and $ 29 million . in 2008 and 2007 , cash received upon exercise of stock option awards was $ 9 million and $ 27 million . tax benefits realized for deductions during 2008 and 2007 that were in excess of the stock-based compensation expense recorded for options exercised and other stock-based awards vested during the period totaled $ 7 million and $ 30 million . cash settlements of stock option awards totaled $ 1 million in 2007 . there were no cash settlements in 2008 . stock option awards during 2008 , 2007 and 2006 , we granted stock option awards to both officer and non-officer employees . the weighted average grant date fair value of these awards was based on the following black-scholes assumptions: .
||2008|2007|2006|
|weighted average exercise price per share|$ 51.74|$ 60.94|$ 37.84|
|expected annual dividends per share|$ 0.96|$ 0.96|$ 0.80|
|expected life in years|4.8|5.0|5.1|
|expected volatility|30% ( 30 % )|27% ( 27 % )|28% ( 28 % )|
|risk-free interest rate|3.1% ( 3.1 % )|4.1% ( 4.1 % )|5.0% ( 5.0 % )|
|weighted average grant date fair value of stock option awards granted|$ 13.03|$ 17.24|$ 10.19|
.
Question: by what percentage did the company's weighted average exercise price per share increase from 2006 to 2008?
Answer: | 0.36734 |
FINQA3116 | Please answer the given financial question based on the context.
Context: stock option gains previously deferred by those participants pursuant to the terms of the deferred compensation plan and earnings on those deferred amounts . as a result of certain provisions of the american jobs creation act , participants had the opportunity until december 31 , 2005 to elect to withdraw amounts previously deferred . 11 . lease commitments the company leases certain of its facilities , equipment and software under various operating leases that expire at various dates through 2022 . the lease agreements frequently include renewal and escalation clauses and require the company to pay taxes , insurance and maintenance costs . total rental expense under operating leases was approximately $ 43 million in fiscal 2007 , $ 45 million in fiscal 2006 and $ 44 million in fiscal 2005 . the following is a schedule of future minimum rental payments required under long-term operating leases at november 3 , 2007 : fiscal years operating leases .
|fiscal years|operating leases|
|2008|$ 30774|
|2009|$ 25906|
|2010|$ 13267|
|2011|$ 5430|
|2012|$ 3842|
|later years|$ 12259|
|total|$ 91478|
12 . commitments and contingencies tentative settlement of the sec 2019s previously announced stock option investigation in the company 2019s 2004 form 10-k filing , the company disclosed that the securities and exchange com- mission ( sec ) had initiated an inquiry into its stock option granting practices , focusing on options that were granted shortly before the issuance of favorable financial results . on november 15 , 2005 , the company announced that it had reached a tentative settlement with the sec . at all times since receiving notice of this inquiry , the company has cooperated with the sec . in november 2005 , the company and its president and ceo , mr . jerald g . fishman , made an offer of settlement to the staff of the sec . the settlement has been submitted to the commission for approval . there can be no assurance a final settlement will be so approved . the sec 2019s inquiry focused on two separate issues . the first issue concerned the company 2019s disclosure regarding grants of options to employees and directors prior to the release of favorable financial results . specifically , the issue related to options granted to employees ( including officers ) of the company on november 30 , 1999 and to employees ( including officers ) and directors of the company on november 10 , 2000 . the second issue concerned the grant dates for options granted to employees ( including officers ) in 1998 and 1999 , and the grant date for options granted to employees ( including officers ) and directors in 2001 . specifically , the settlement would conclude that the appropriate grant date for the september 4 , 1998 options should have been september 8th ( which is one trading day later than the date that was used to price the options ) ; the appropriate grant date for the november 30 , 1999 options should have been november 29th ( which is one trading day earlier than the date that was used ) ; and the appropriate grant date for the july 18 , 2001 options should have been july 26th ( which is five trading days after the original date ) . analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what is the growth rate in rental expense under operating leases in 2007?
Answer: | -0.04444 |
FINQA3117 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis institutional client services our institutional client services segment is comprised of : fixed income , currency and commodities client execution . includes client execution activities related to making markets in interest rate products , credit products , mortgages , currencies and commodities . we generate market-making revenues in these activities in three ways : 2030 in large , highly liquid markets ( such as markets for u.s . treasury bills or certain mortgage pass-through certificates ) , we execute a high volume of transactions for our clients for modest spreads and fees . 2030 in less liquid markets ( such as mid-cap corporate bonds , growth market currencies or certain non-agency mortgage-backed securities ) , we execute transactions for our clients for spreads and fees that are generally somewhat larger . 2030 we also structure and execute transactions involving customized or tailor-made products that address our clients 2019 risk exposures , investment objectives or other complex needs ( such as a jet fuel hedge for an airline ) . given the focus on the mortgage market , our mortgage activities are further described below . our activities in mortgages include commercial mortgage- related securities , loans and derivatives , residential mortgage-related securities , loans and derivatives ( including u.s . government agency-issued collateralized mortgage obligations , other prime , subprime and alt-a securities and loans ) , and other asset-backed securities , loans and derivatives . we buy , hold and sell long and short mortgage positions , primarily for market making for our clients . our inventory therefore changes based on client demands and is generally held for short-term periods . see notes 18 and 27 to the consolidated financial statements for information about exposure to mortgage repurchase requests , mortgage rescissions and mortgage-related litigation . equities . includes client execution activities related to making markets in equity products and commissions and fees from executing and clearing institutional client transactions on major stock , options and futures exchanges worldwide , as well as over-the-counter transactions . equities also includes our securities services business , which provides financing , securities lending and other prime brokerage services to institutional clients , including hedge funds , mutual funds , pension funds and foundations , and generates revenues primarily in the form of interest rate spreads or fees . the table below presents the operating results of our institutional client services segment. .
|in millions|year ended december 2013|year ended december 2012|year ended december 2011|
|fixed income currency and commodities client execution|$ 8651|$ 9914|$ 9018|
|equities client execution1|2594|3171|3031|
|commissions and fees|3103|3053|3633|
|securities services|1373|1986|1598|
|total equities|7070|8210|8262|
|total net revenues|15721|18124|17280|
|operating expenses|11782|12480|12837|
|pre-tax earnings|$ 3939|$ 5644|$ 4443|
1 . in april 2013 , we completed the sale of a majority stake in our americas reinsurance business and no longer consolidate this business . net revenues related to the americas reinsurance business were $ 317 million for 2013 , $ 1.08 billion for 2012 and $ 880 million for 2011 . see note 12 to the consolidated financial statements for further information about this sale . 2013 versus 2012 . net revenues in institutional client services were $ 15.72 billion for 2013 , 13% ( 13 % ) lower than 2012 . net revenues in fixed income , currency and commodities client execution were $ 8.65 billion for 2013 , 13% ( 13 % ) lower than 2012 , reflecting significantly lower net revenues in interest rate products compared with a solid 2012 , and significantly lower net revenues in mortgages compared with a strong 2012 . the decrease in interest rate products and mortgages primarily reflected the impact of a more challenging environment and lower activity levels compared with 2012 . in addition , net revenues in currencies were slightly lower , while net revenues in credit products and commodities were essentially unchanged compared with 2012 . in december 2013 , we completed the sale of a majority stake in our european insurance business and recognized a gain of $ 211 million . 50 goldman sachs 2013 annual report .
Question: what percentage of total net revenues institutional client services segment in 2012 were made up of equities client execution?
Answer: | 0.17496 |
FINQA3118 | Please answer the given financial question based on the context.
Context: 2016 non-qualified deferred compensation as of december 31 , 2016 , mr . may had a deferred account balance under a frozen defined contribution restoration plan . the amount is deemed invested , as chosen by the participant , in certain t . rowe price investment funds that are also available to the participant under the savings plan . mr . may has elected to receive the deferred account balance after he retires . the defined contribution restoration plan , until it was frozen in 2005 , credited eligible employees 2019 deferral accounts with employer contributions to the extent contributions under the qualified savings plan in which the employee participated were subject to limitations imposed by the code . defined contribution restoration plan executive contributions in registrant contributions in aggregate earnings in 2016 ( 1 ) aggregate withdrawals/ distributions aggregate balance at december 31 , ( a ) ( b ) ( c ) ( d ) ( e ) ( f ) .
|name|executive contributions in 2016 ( b )|registrant contributions in 2016 ( c )|aggregate earnings in 2016 ( 1 ) ( d )|aggregate withdrawals/distributions ( e )|aggregate balance at december 31 2016 ( a ) ( f )|
|phillip r . may jr .|$ 2014|$ 2014|$ 177|$ 2014|$ 1751|
( 1 ) amounts in this column are not included in the summary compensation table . 2016 potential payments upon termination or change in control entergy corporation has plans and other arrangements that provide compensation to a named executive officer if his or her employment terminates under specified conditions , including following a change in control of entergy corporation . in addition , in 2006 entergy corporation entered into a retention agreement with mr . denault that provides possibility of additional service credit under the system executive retirement plan upon certain terminations of employment . there are no plans or agreements that would provide for payments to any of the named executive officers solely upon a change in control . the tables below reflect the amount of compensation each of the named executive officers would have received if his or her employment with their entergy employer had been terminated under various scenarios as of december 31 , 2016 . for purposes of these tables , a stock price of $ 73.47 was used , which was the closing market price on december 30 , 2016 , the last trading day of the year. .
Question: what is the aggregate balance at december 31 2015 for phillip r . may jr.?
Answer: | 1574.0 |
FINQA3119 | Please answer the given financial question based on the context.
Context: 2022 net derivative losses of $ 13 million . review by segment general we serve clients through the following segments : 2022 risk solutions acts as an advisor and insurance and reinsurance broker , helping clients manage their risks , via consultation , as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network . 2022 hr solutions partners with organizations to solve their most complex benefits , talent and related financial challenges , and improve business performance by designing , implementing , communicating and administering a wide range of human capital , retirement , investment management , health care , compensation and talent management strategies . risk solutions .
|years ended december 31,|2011|2010|2009|
|revenue|$ 6817|$ 6423|$ 6305|
|operating income|1314|1194|900|
|operating margin|19.3% ( 19.3 % )|18.6% ( 18.6 % )|14.3% ( 14.3 % )|
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 closely correlated with employment levels , corporate revenue and asset values . during 2011 we began to see some improvement in pricing ; however , we would still consider this to be a 2018 2018soft market , 2019 2019 which began in 2007 . 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 premiums paid by insureds . in 2011 , pricing showed signs of stabilization and improvement in both our retail and reinsurance brokerage product lines and we expect this trend to slowly continue into 2012 . additionally , beginning in late 2008 and continuing through 2011 , we faced difficult conditions as a result of unprecedented disruptions in the global economy , the repricing of credit risk and the deterioration of the financial markets . weak global economic conditions have reduced our customers 2019 demand for our brokerage products , which have had a negative impact on our operational results . risk solutions generated approximately 60% ( 60 % ) of our consolidated total revenues in 2011 . revenues are generated primarily through fees paid by clients , commissions and fees paid by insurance and reinsurance companies , and investment income on funds held on behalf of clients . our revenues vary from quarter to quarter throughout the year as a result of the timing of our clients 2019 policy renewals , the net effect of new and lost business , the timing of services provided to our clients , and the income we earn on investments , which is heavily influenced by short-term interest rates . we operate in a highly competitive industry and compete with many retail insurance brokerage and agency firms , as well as with individual brokers , agents , and direct writers of insurance coverage . specifically , we address the highly specialized product development and risk management needs of commercial enterprises , professional groups , insurance companies , governments , health care providers , and non-profit groups , among others ; provide affinity products for professional liability , life , disability .
Question: what was the percent of the increase in the operating income from 2010 to 2011
Answer: | 0.1005 |
FINQA3120 | Please answer the given financial question based on the context.
Context: federal realty investment trust schedule iii summary of real estate and accumulated depreciation 2014continued three years ended december 31 , 2009 reconciliation of accumulated depreciation and amortization ( in thousands ) .
|balance december 31 2006|$ 740507|
|additions during period 2014depreciation and amortization expense|96454|
|deductions during period 2014disposition and retirements of property|-80258 ( 80258 )|
|balance december 31 2007|756703|
|additions during period 2014depreciation and amortization expense|101321|
|deductions during period 2014disposition and retirements of property|-11766 ( 11766 )|
|balance december 31 2008|846258|
|additions during period 2014depreciation and amortization expense|103.698|
|deductions during period 2014disposition and retirements of property|-11869 ( 11869 )|
|balance december 31 2009|$ 938087|
.
Question: what is the percentual decline of the deductions during 2007 and 2008?
Answer: | -0.8534 |
FINQA3121 | Please answer the given financial question based on the context.
Context: note 15 financial derivatives we use derivative financial instruments ( derivatives ) primarily to help manage exposure to interest rate , market and credit risk and reduce the effects that changes in interest rates may have on net income , the fair value of assets and liabilities , and cash flows . we also enter into derivatives with customers to facilitate their risk management activities . derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract . derivative transactions are often measured in terms of notional amount , but this amount is generally not exchanged and it is not recorded on the balance sheet . the notional amount is the basis to which the underlying is applied to determine required payments under the derivative contract . the underlying is a referenced interest rate ( commonly libor ) , security price , credit spread or other index . residential and commercial real estate loan commitments associated with loans to be sold also qualify as derivative instruments . the following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by pnc : table 124 : total gross derivatives .
|in millions|december 31 2014 notional/contractamount|december 31 2014 assetfairvalue ( a )|december 31 2014 liabilityfairvalue ( b )|december 31 2014 notional/contractamount|december 31 2014 assetfairvalue ( a )|liabilityfairvalue ( b )|
|derivatives designated as hedging instruments under gaap|$ 49061|$ 1261|$ 186|$ 36197|$ 1189|$ 364|
|derivatives not designated as hedging instruments under gaap|291256|3973|3841|345059|3604|3570|
|total gross derivatives|$ 340317|$ 5234|$ 4027|$ 381256|$ 4793|$ 3934|
( a ) included in other assets on our consolidated balance sheet . ( b ) included in other liabilities on our consolidated balance sheet . all derivatives are carried on our consolidated balance sheet at fair value . derivative balances are presented on the consolidated balance sheet on a net basis taking into consideration the effects of legally enforceable master netting agreements and any related cash collateral exchanged with counterparties . further discussion regarding the rights of setoff associated with these legally enforceable master netting agreements is included in the offsetting , counterparty credit risk , and contingent features section below . our exposure related to risk participations where we sold protection is discussed in the credit derivatives section below . any nonperformance risk , including credit risk , is included in the determination of the estimated net fair value of the derivatives . further discussion on how derivatives are accounted for is included in note 1 accounting policies . derivatives designated as hedging instruments under gaap certain derivatives used to manage interest rate and foreign exchange risk as part of our asset and liability risk management activities are designated as accounting hedges under gaap . derivatives hedging the risks associated with changes in the fair value of assets or liabilities are considered fair value hedges , derivatives hedging the variability of expected future cash flows are considered cash flow hedges , and derivatives hedging a net investment in a foreign subsidiary are considered net investment hedges . designating derivatives as accounting hedges allows for gains and losses on those derivatives , to the extent effective , to be recognized in the income statement in the same period the hedged items affect earnings . the pnc financial services group , inc . 2013 form 10-k 187 .
Question: what percentage of notional contract amount of total gross derivatives at december 31 , 2014 was from derivatives not designated as hedging instruments under gaap?
Answer: | 0.85584 |
FINQA3122 | Please answer the given financial question based on the context.
Context: 57management's discussion and analysis of financial condition and results of operations facility include covenants relating to net interest coverage and total debt-to-book capitalization ratios . the company was in compliance with the terms of the 3-year credit facility at december 31 , 2005 . the company has never borrowed under its domestic revolving credit facilities . utilization of the non-u.s . credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested . contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2005 . payments due by period ( 1 ) ( in millions ) total 2006 2007 2008 2009 2010 thereafter .
|( in millions )|payments due by period ( 1 ) total|payments due by period ( 1 ) 2006|payments due by period ( 1 ) 2007|payments due by period ( 1 ) 2008|payments due by period ( 1 ) 2009|payments due by period ( 1 ) 2010|payments due by period ( 1 ) thereafter|
|long-term debt obligations|$ 4033|$ 119|$ 1222|$ 200|$ 2|$ 529|$ 1961|
|lease obligations|1150|438|190|134|109|84|195|
|purchase obligations|992|418|28|3|2|2|539|
|total contractual obligations|$ 6175|$ 975|$ 1440|$ 337|$ 113|$ 615|$ 2695|
( 1 ) amounts included represent firm , non-cancelable commitments . debt obligations : at december 31 , 2005 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.0 billion , as compared to $ 5.0 billion at december 31 , 2004 . a table of all outstanding long-term debt securities can be found in note 4 , ""debt and credit facilities'' to the company's consolidated financial statements . as previously discussed , the decrease in the long- term debt obligations as compared to december 31 , 2004 , was due to the redemptions and repurchases of $ 1.0 billion principal amount of outstanding securities during 2005 . also , as previously discussed , the remaining $ 118 million of 7.6% ( 7.6 % ) notes due january 1 , 2007 were reclassified to current maturities of long-term debt . lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases . at december 31 , 2005 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 1.2 billion . rental expense , net of sublease income , was $ 254 million in 2005 , $ 217 million in 2004 and $ 223 million in 2003 . purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable . the longest of these agreements extends through 2015 . total payments expected to be made under these agreements total $ 992 million . commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers . most of the agreements extend for periods of one to three years ( three to five years for software ) . however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) . if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders . the company's liability would only arise in the event it terminates the agreements for reasons other than ""cause.'' in 2003 , the company entered into outsourcing contracts for certain corporate functions , such as benefit administration and information technology related services . these contracts generally extend for 10 years and are expected to expire in 2013 . the total payments under these contracts are approximately $ 3 billion over 10 years ; however , these contracts can be terminated . termination would result in a penalty substantially less than the annual contract payments . the company would also be required to find another source for these services , including the possibility of performing them in-house . as is customary in bidding for and completing network infrastructure projects and pursuant to a practice the company has followed for many years , the company has a number of performance/bid bonds and standby letters of credit outstanding , primarily relating to projects of government and enterprise mobility solutions segment and the networks segment . these instruments normally have maturities of up to three years and are standard in the .
Question: what was the percentage change in total contractual obligations from 2006 to 2010?
Answer: | 0.36923 |
FINQA3123 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) sales of businesses and investments 2013 primarily includes realized gains and losses relating to the sales of businesses , cumulative translation adjustment balances from the liquidation of entities and sales of marketable securities and investments in publicly traded and privately held companies in our rabbi trusts . during 2009 , we realized a gain of $ 15.2 related to the sale of an investment in our rabbi trusts , which was partially offset by losses realized from the sale of various businesses . losses in 2007 primarily related to the sale of several businesses within draftfcb for a loss of $ 9.3 and charges at lowe of $ 7.8 as a result of the realization of cumulative translation adjustment balances from the liquidation of several businesses . vendor discounts and credit adjustments 2013 we are in the process of settling our liabilities related to vendor discounts and credits established during the restatement we presented in our 2004 annual report on form 10-k . these adjustments reflect the reversal of certain of these liabilities as a result of settlements with clients or vendors or where the statute of limitations has lapsed . litigation settlement 2013 during may 2008 , the sec concluded its investigation that began in 2002 into our financial reporting practices , resulting in a settlement charge of $ 12.0 . investment impairments 2013 in 2007 we realized an other-than-temporary charge of $ 5.8 relating to a $ 12.5 investment in auction rate securities , representing our total investment in auction rate securities . see note 12 for further information . note 5 : intangible assets goodwill goodwill is the excess purchase price remaining from an acquisition after an allocation of purchase price has been made to identifiable assets acquired and liabilities assumed based on estimated fair values . the changes in the carrying value of goodwill for our segments , integrated agency networks ( 201cian 201d ) and constituency management group ( 201ccmg 201d ) , for the years ended december 31 , 2009 and 2008 are listed below. .
||ian|cmg|total 1|
|balance as of december 31 2007|$ 2789.7|$ 441.9|$ 3231.6|
|current year acquisitions|99.5|1.8|101.3|
|contingent and deferred payments for prior acquisitions|28.9|1.1|30.0|
|other ( primarily foreign currency translation )|-128.1 ( 128.1 )|-13.9 ( 13.9 )|-142.0 ( 142.0 )|
|balance as of december 31 2008|$ 2790.0|$ 430.9|$ 3220.9|
|current year acquisitions2|5.2|2014|5.2|
|contingent and deferred payments for prior acquisitions|14.2|2014|14.2|
|other ( primarily foreign currency translation )|76.2|4.5|80.7|
|balance as of december 31 2009|$ 2885.6|$ 435.4|$ 3321.0|
1 for all periods presented we have not recorded a goodwill impairment charge . 2 for acquisitions completed after january 1 , 2009 , amount includes contingent and deferred payments , which are recorded at fair value on the acquisition date . see note 6 for further information . see note 1 for further information regarding our annual impairment methodology . other intangible assets included in other intangible assets are assets with indefinite lives not subject to amortization and assets with definite lives subject to amortization . other intangible assets primarily include customer lists and trade names . intangible assets with definitive lives subject to amortization are amortized on a straight-line basis with estimated useful lives generally between 7 and 15 years . amortization expense for other intangible assets for the years ended december 31 , 2009 , 2008 and 2007 was $ 19.3 , $ 14.4 and $ 8.5 , respectively . the following table provides a summary of other intangible assets , which are included in other assets on our consolidated balance sheets. .
Question: what was the average amortization expense for other intangible assets for 2007-2009 , in millions?
Answer: | 14.06667 |
FINQA3124 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries management's financial discussion and analysis the purchased power capacity variance is primarily due to higher capacity charges . a portion of the variance is due to the amortization of deferred capacity costs and is offset in base revenues due to base rate increases implemented to recover incremental deferred and ongoing purchased power capacity charges . the volume/weather variance is primarily due to the effect of less favorable weather compared to the same period in 2007 and decreased electricity usage primarily during the unbilled sales period . hurricane gustav and hurricane ike , which hit the utility's service territories in september 2008 , contributed an estimated $ 46 million to the decrease in electricity usage . industrial sales were also depressed by the continuing effects of the hurricanes and , especially in the latter part of the year , because of the overall decline of the economy , leading to lower usage in the latter part of the year affecting both the large customer industrial segment as well as small and mid-sized industrial customers . the decreases in electricity usage were partially offset by an increase in residential and commercial customer electricity usage that occurred during the periods of the year not affected by the hurricanes . the retail electric price variance is primarily due to : an increase in the attala power plant costs recovered through the power management rider by entergy mississippi . the net income effect of this recovery is limited to a portion representing an allowed return on equity with the remainder offset by attala power plant costs in other operation and maintenance expenses , depreciation expenses , and taxes other than income taxes ; a storm damage rider that became effective in october 2007 at entergy mississippi ; and an energy efficiency rider that became effective in november 2007 at entergy arkansas . the establishment of the storm damage rider and the energy efficiency rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense with no impact on net income . the retail electric price variance was partially offset by : the absence of interim storm recoveries through the formula rate plans at entergy louisiana and entergy gulf states louisiana which ceased upon the act 55 financing of storm costs in the third quarter 2008 ; and a credit passed on to customers as a result of the act 55 storm cost financings . refer to "liquidity and capital resources - hurricane katrina and hurricane rita" below and note 2 to the financial statements for a discussion of the interim recovery of storm costs and the act 55 storm cost financings . non-utility nuclear following is an analysis of the change in net revenue comparing 2008 to 2007 . amount ( in millions ) .
||amount ( in millions )|
|2007 net revenue|$ 1839|
|realized price changes|309|
|palisades acquisition|98|
|volume variance ( other than palisades )|73|
|fuel expenses ( other than palisades )|-19 ( 19 )|
|other|34|
|2008 net revenue|$ 2334|
as shown in the table above , net revenue for non-utility nuclear increased by $ 495 million , or 27% ( 27 % ) , in 2008 compared to 2007 primarily due to higher pricing in its contracts to sell power , additional production available from the acquisition of palisades in april 2007 , and fewer outage days . in addition to the refueling outages shown in the .
Question: what was the average net revenue between 2007 and 2008 in millions
Answer: | 2087.5 |
FINQA3125 | Please answer the given financial question based on the context.
Context: overview we finance our operations and capital expenditures through a combination of internally generated cash from operations and from borrowings under our senior secured asset-based revolving credit facility . we believe that our current sources of funds will be sufficient to fund our cash operating requirements for the next year . in addition , we believe that , in spite of the uncertainty of future macroeconomic conditions , we have adequate sources of liquidity and funding available to meet our longer-term needs . however , there are a number of factors that may negatively impact our available sources of funds . the amount of cash generated from operations will be dependent upon factors such as the successful execution of our business plan and general economic conditions . long-term debt activities during the year ended december 31 , 2014 , we had significant debt refinancings . in connection with these refinancings , we recorded a loss on extinguishment of long-term debt of $ 90.7 million in our consolidated statement of operations for the year ended december 31 , 2014 . see note 7 to the accompanying audited consolidated financial statements included elsewhere in this report for additional details . share repurchase program on november 6 , 2014 , we announced that our board of directors approved a $ 500 million share repurchase program effective immediately under which we may repurchase shares of our common stock in the open market or through privately negotiated transactions , depending on share price , market conditions and other factors . the share repurchase program does not obligate us to repurchase any dollar amount or number of shares , and repurchases may be commenced or suspended from time to time without prior notice . as of the date of this filing , no shares have been repurchased under the share repurchase program . dividends a summary of 2014 dividend activity for our common stock is shown below: .
|dividend amount|declaration date|record date|payment date|
|$ 0.0425|february 12 2014|february 25 2014|march 10 2014|
|$ 0.0425|may 8 2014|may 27 2014|june 10 2014|
|$ 0.0425|july 31 2014|august 25 2014|september 10 2014|
|$ 0.0675|november 6 2014|november 25 2014|december 10 2014|
on february 10 , 2015 , we announced that our board of directors declared a quarterly cash dividend on our common stock of $ 0.0675 per share . the dividend will be paid on march 10 , 2015 to all stockholders of record as of the close of business on february 25 , 2015 . the payment of any future dividends will be at the discretion of our board of directors and will depend upon our results of operations , financial condition , business prospects , capital requirements , contractual restrictions , any potential indebtedness we may incur , restrictions imposed by applicable law , tax considerations and other factors that our board of directors deems relevant . in addition , our ability to pay dividends on our common stock will be limited by restrictions on our ability to pay dividends or make distributions to our stockholders and on the ability of our subsidiaries to pay dividends or make distributions to us , in each case , under the terms of our current and any future agreements governing our indebtedness . table of contents .
Question: what was the dividend increase between july 31 2014 and november 6 2014?
Answer: | 0.025 |
FINQA3126 | Please answer the given financial question based on the context.
Context: ( 1 ) the cumulative total return assumes reinvestment of dividends . ( 2 ) the total return is weighted according to market capitalization of each company at the beginning of each year . ( f ) purchases of equity securities by the issuer and affiliated purchasers we have not repurchased any of our common stock since the company filed its initial registration statement on march 16 , ( g ) securities authorized for issuance under equity compensation plans a description of securities authorized for issuance under our equity compensation plans will be incorporated herein by reference to the proxy statement for the 2012 annual meeting of stockholders to be filed within 120 days after the end of the company 2019s fiscal year . item 6 . selected financial data .
|( $ in millions except per share amounts )|year ended december 31 2011|year ended december 31 2010|year ended december 31 2009|year ended december 31 2008|year ended december 31 2007|
|sales and service revenues|$ 6575|$ 6723|$ 6292|$ 6189|$ 5692|
|goodwill impairment|290|0|0|2490|0|
|operating income ( loss )|110|248|211|-2354 ( 2354 )|447|
|net earnings ( loss )|-94 ( 94 )|135|124|-2420 ( 2420 )|276|
|total assets|6001|5203|5036|4760|7658|
|long-term debt ( 1 )|1830|105|283|283|283|
|total long-term obligations|3757|1559|1645|1761|1790|
|free cash flow ( 2 )|331|168|-269 ( 269 )|121|364|
|basic earnings ( loss ) per share|$ -1.93 ( 1.93 )|$ 2.77|$ 2.54|$ -49.61 ( 49.61 )|$ 5.65|
|diluted earnings ( loss ) per share|$ -1.93 ( 1.93 )|$ 2.77|$ 2.54|$ -49.61 ( 49.61 )|$ 5.65|
( 1 ) long-term debt does not include amounts payable to our former parent as of and before december 31 , 2010 , as these amounts were due upon demand and included in current liabilities . ( 2 ) free cash flow is a non-gaap financial measure and represents cash from operating activities less capital expenditures . see liquidity and capital resources in item 7 for more information on this measure. .
Question: what would 2011 operating income have been without non-cash charges?
Answer: | 400000000.0 |
FINQA3127 | Please answer the given financial question based on the context.
Context: during fiscal 2013 , we entered into an asr with a financial institution to repurchase an aggregate of $ 125 million of our common stock . in exchange for an up-front payment of $ 125 million , the financial institution committed to deliver a number of shares during the asr 2019s purchase period , which ended on march 30 , 2013 . the total number of shares delivered under this asr was 2.5 million at an average price of $ 49.13 per share . during fiscal 2013 , in addition to shares repurchased under the asr , we repurchased and retired 1.1 million shares of our common stock at a cost of $ 50.3 million , or an average of $ 44.55 per share , including commissions . note 10 2014share-based awards and options non-qualified stock options and restricted stock have been granted to officers , key employees and directors under the global payments inc . 2000 long-term incentive plan , as amended and restated ( the 201c2000 plan 201d ) , the global payments inc . amended and restated 2005 incentive plan ( the 201c2005 plan 201d ) , the amended and restated 2000 non-employee director stock option plan ( the 201cdirector stock option plan 201d ) , and the global payments inc . 2011 incentive plan ( the 201c2011 plan 201d ) ( collectively , the 201cplans 201d ) . there were no further grants made under the 2000 plan after the 2005 plan was effective , and the director stock option plan expired by its terms on february 1 , 2011 . there will be no future grants under the 2000 plan , the 2005 plan or the director stock option the 2011 plan permits grants of equity to employees , officers , directors and consultants . a total of 7.0 million shares of our common stock was reserved and made available for issuance pursuant to awards granted under the 2011 plan . the following table summarizes share-based compensation expense and the related income tax benefit recognized for stock options , restricted stock , performance units , tsr units , and shares issued under our employee stock purchase plan ( each as described below ) . 2015 2014 2013 ( in millions ) .
||2015|2014 ( in millions )|2013|
|share-based compensation expense|$ 21.1|$ 29.8|$ 18.4|
|income tax benefit|$ -6.9 ( 6.9 )|$ -7.1 ( 7.1 )|$ -5.6 ( 5.6 )|
we grant various share-based awards pursuant to the plans under what we refer to as our 201clong-term incentive plan . 201d the awards are held in escrow and released upon the grantee 2019s satisfaction of conditions of the award certificate . restricted stock and restricted stock units we grant restricted stock and restricted stock units . restricted stock awards vest over a period of time , provided , however , that if the grantee is not employed by us on the vesting date , the shares are forfeited . restricted shares cannot be sold or transferred until they have vested . restricted stock granted before fiscal 2015 vests in equal installments on each of the first four anniversaries of the grant date . restricted stock granted during fiscal 2015 will either vest in equal installments on each of the first three anniversaries of the grant date or cliff vest at the end of a three-year service period . the grant date fair value of restricted stock , which is based on the quoted market value of our common stock at the closing of the award date , is recognized as share-based compensation expense on a straight-line basis over the vesting period . performance units certain of our executives have been granted up to three types of performance units under our long-term incentive plan . performance units are performance-based restricted stock units that , after a performance period , convert into common shares , which may be restricted . the number of shares is dependent upon the achievement of certain performance measures during the performance period . the target number of performance units and any market-based performance measures ( 201cat threshold , 201d 201ctarget , 201d and 201cmaximum 201d ) are set by the compensation committee of our board of directors . performance units are converted only after the compensation committee certifies performance based on pre-established goals . 80 2013 global payments inc . | 2015 form 10-k annual report .
Question: what is the growth rate in the share-based compensation expense from 2014 to 2015?
Answer: | -0.29195 |
FINQA3128 | Please answer the given financial question based on the context.
Context: the hartford financial services group , inc . notes to consolidated financial statements ( continued ) 10 . sales inducements accounting policy the company currently offers enhanced crediting rates or bonus payments to contract holders on certain of its individual and group annuity products . the expense associated with offering a bonus is deferred and amortized over the life of the related contract in a pattern consistent with the amortization of deferred policy acquisition costs . amortization expense associated with expenses previously deferred is recorded over the remaining life of the contract . consistent with the unlock , the company unlocked the amortization of the sales inducement asset . see note 7 for more information concerning the unlock . changes in deferred sales inducement activity were as follows for the years ended december 31: .
||2011|2010|2009|
|balance beginning of year|$ 459|$ 438|$ 553|
|sales inducements deferred|20|31|59|
|amortization charged to income|-17 ( 17 )|-8 ( 8 )|-105 ( 105 )|
|amortization 2014 unlock|-28 ( 28 )|-2 ( 2 )|-69 ( 69 )|
|balance end of year|$ 434|$ 459|$ 438|
11 . reserves for future policy benefits and unpaid losses and loss adjustment expenses life insurance products accounting policy liabilities for future policy benefits are calculated by the net level premium method using interest , withdrawal and mortality assumptions appropriate at the time the policies were issued . the methods used in determining the liability for unpaid losses and future policy benefits are standard actuarial methods recognized by the american academy of actuaries . for the tabular reserves , discount rates are based on the company 2019s earned investment yield and the morbidity/mortality tables used are standard industry tables modified to reflect the company 2019s actual experience when appropriate . in particular , for the company 2019s group disability known claim reserves , the morbidity table for the early durations of claim is based exclusively on the company 2019s experience , incorporating factors such as gender , elimination period and diagnosis . these reserves are computed such that they are expected to meet the company 2019s future policy obligations . future policy benefits are computed at amounts that , with additions from estimated premiums to be received and with interest on such reserves compounded annually at certain assumed rates , are expected to be sufficient to meet the company 2019s policy obligations at their maturities or in the event of an insured 2019s death . changes in or deviations from the assumptions used for mortality , morbidity , expected future premiums and interest can significantly affect the company 2019s reserve levels and related future operations and , as such , provisions for adverse deviation are built into the long-tailed liability assumptions . liabilities for the company 2019s group life and disability contracts , as well as its individual term life insurance policies , include amounts for unpaid losses and future policy benefits . liabilities for unpaid losses include estimates of amounts to fully settle known reported claims , as well as claims related to insured events that the company estimates have been incurred but have not yet been reported . these reserve estimates are based on known facts and interpretations of circumstances , and consideration of various internal factors including the hartford 2019s experience with similar cases , historical trends involving claim payment patterns , loss payments , pending levels of unpaid claims , loss control programs and product mix . in addition , the reserve estimates are influenced by consideration of various external factors including court decisions , economic conditions and public attitudes . the effects of inflation are implicitly considered in the reserving process. .
Question: what is the net change in the balance of deferred sales in 2011?
Answer: | -25.0 |
FINQA3129 | Please answer the given financial question based on the context.
Context: each clearing firm is required to deposit and maintain balances in the form of cash , u.s . government securities , certain foreign government securities , bank letters of credit or other approved investments to satisfy performance bond and guaranty fund requirements . all non-cash deposits are marked-to-market and haircut on a daily basis . securities deposited by the clearing firms are not reflected in the consolidated financial statements and the clearing house does not earn any interest on these deposits . these balances may fluctuate significantly over time due to investment choices available to clearing firms and changes in the amount of contributions required . in addition , the rules and regulations of cbot require that collateral be provided for delivery of physical commodities , maintenance of capital requirements and deposits on pending arbitration matters . to satisfy these requirements , clearing firms that have accounts that trade certain cbot products have deposited cash , u.s . treasury securities or letters of credit . the clearing house marks-to-market open positions at least once a day ( twice a day for futures and options contracts ) , and require payment from clearing firms whose positions have lost value and make payments to clearing firms whose positions have gained value . the clearing house has the capability to mark-to-market more frequently as market conditions warrant . under the extremely unlikely scenario of simultaneous default by every clearing firm who has open positions with unrealized losses , the maximum exposure related to positions other than credit default and interest rate swap contracts would be one half day of changes in fair value of all open positions , before considering the clearing houses 2019 ability to access defaulting clearing firms 2019 collateral deposits . for cleared credit default swap and interest rate swap contracts , the maximum exposure related to cme 2019s guarantee would be one full day of changes in fair value of all open positions , before considering cme 2019s ability to access defaulting clearing firms 2019 collateral . during 2017 , the clearing house transferred an average of approximately $ 2.4 billion a day through the clearing system for settlement from clearing firms whose positions had lost value to clearing firms whose positions had gained value . the clearing house reduces the guarantee exposure through initial and maintenance performance bond requirements and mandatory guaranty fund contributions . the company believes that the guarantee liability is immaterial and therefore has not recorded any liability at december 31 , 2017 . at december 31 , 2016 , performance bond and guaranty fund contribution assets on the consolidated balance sheets included cash as well as u.s . treasury and u.s . government agency securities with maturity dates of 90 days or less . the u.s . treasury and u.s . government agency securities were purchased by cme , at its discretion , using cash collateral . the benefits , including interest earned , and risks of ownership accrue to cme . interest earned is included in investment income on the consolidated statements of income . there were no u.s . treasury and u.s . government agency securities held at december 31 , 2017 . the amortized cost and fair value of these securities at december 31 , 2016 were as follows : ( in millions ) amortized .
|( in millions )|2016 amortizedcost|2016 fairvalue|
|u.s . treasury securities|$ 5548.9|$ 5549.0|
|u.s . government agency securities|1228.3|1228.3|
cme has been designated as a systemically important financial market utility by the financial stability oversight council and maintains a cash account at the federal reserve bank of chicago . at december 31 , 2017 and december 31 , 2016 , cme maintained $ 34.2 billion and $ 6.2 billion , respectively , within the cash account at the federal reserve bank of chicago . clearing firms , at their option , may instruct cme to deposit the cash held by cme into one of the ief programs . the total principal in the ief programs was $ 1.1 billion at december 31 , 2017 and $ 6.8 billion at december 31 .
Question: what was the ratio of the cme cash account at the federal reserve bank of chicago in 2017 compared to 2016
Answer: | 5.51613 |
FINQA3130 | Please answer the given financial question based on the context.
Context: stock performance graph the following performance graph compares the cumulative total return ( including dividends ) to the holders of our common stock from december 31 , 2002 through december 31 , 2007 , with the cumulative total returns of the nyse composite index , the ftse nareit composite reit index ( the 201call reit index 201d ) , the ftse nareit healthcare equity reit index ( the 201chealthcare reit index 201d ) and the russell 1000 index over the same period . the comparison assumes $ 100 was invested on december 31 , 2002 in our common stock and in each of the foregoing indices and assumes reinvestment of dividends , as applicable . we have included the nyse composite index in the performance graph because our common stock is listed on the nyse . we have included the other indices because we believe that they are either most representative of the industry in which we compete , or otherwise provide a fair basis for comparison with ventas , and are therefore particularly relevant to an assessment of our performance . the figures in the table below are rounded to the nearest dollar. .
||12/31/2002|12/31/2003|12/31/2004|12/31/2005|12/31/2006|12/31/2007|
|ventas|$ 100|$ 206|$ 270|$ 331|$ 457|$ 512|
|nyse composite index|$ 100|$ 132|$ 151|$ 166|$ 200|$ 217|
|all reit index|$ 100|$ 138|$ 181|$ 196|$ 262|$ 215|
|healthcare reit index|$ 100|$ 154|$ 186|$ 189|$ 273|$ 279|
|russell 1000 index|$ 100|$ 130|$ 145|$ 154|$ 178|$ 188|
ventas nyse composite index all reit index healthcare reit index russell 1000 index .
Question: what was the growth rate of the ventas stock as of 12/31/2003
Answer: | 1.06 |
FINQA3131 | Please answer the given financial question based on the context.
Context: the following details the impairment charge resulting from our review ( in thousands ) : .
||year ended may 31 2009|
|goodwill|$ 136800|
|trademark|10000|
|other long-lived assets|864|
|total|$ 147664|
net income attributable to noncontrolling interests , net of tax noncontrolling interest , net of tax increased $ 28.9 million from $ 8.1 million fiscal 2008 . the increase was primarily related to our acquisition of a 51% ( 51 % ) majority interest in hsbc merchant services , llp on june 30 , net income attributable to global payments and diluted earnings per share during fiscal 2009 we reported net income of $ 37.2 million ( $ 0.46 diluted earnings per share ) . liquidity and capital resources a significant portion of our liquidity comes from operating cash flows , which are generally sufficient to fund operations , planned capital expenditures , debt service and various strategic investments in our business . cash flow from operations is used to make planned capital investments in our business , to pursue acquisitions that meet our corporate objectives , to pay dividends , and to pay off debt and repurchase our shares at the discretion of our board of directors . accumulated cash balances are invested in high-quality and marketable short term instruments . our capital plan objectives are to support the company 2019s operational needs and strategic plan for long term growth while maintaining a low cost of capital . lines of credit are used in certain of our markets to fund settlement and as a source of working capital and , along with other bank financing , to fund acquisitions . we regularly evaluate our liquidity and capital position relative to cash requirements , and we may elect to raise additional funds in the future , either through the issuance of debt , equity or otherwise . at may 31 , 2010 , we had cash and cash equivalents totaling $ 769.9 million . of this amount , we consider $ 268.1 million to be available cash , which generally excludes settlement related and merchant reserve cash balances . settlement related cash balances represent surplus funds that we hold on behalf of our member sponsors when the incoming amount from the card networks precedes the member sponsors 2019 funding obligation to the merchant . merchant reserve cash balances represent funds collected from our merchants that serve as collateral ( 201cmerchant reserves 201d ) to minimize contingent liabilities associated with any losses that may occur under the merchant agreement . at may 31 , 2010 , our cash and cash equivalents included $ 199.4 million related to merchant reserves . while this cash is not restricted in its use , we believe that designating this cash to collateralize merchant reserves strengthens our fiduciary standing with our member sponsors and is in accordance with the guidelines set by the card networks . see cash and cash equivalents and settlement processing assets and obligations under note 1 in the notes to the consolidated financial statements for additional details . net cash provided by operating activities increased $ 82.8 million to $ 465.8 million for fiscal 2010 from the prior year . income from continuing operations increased $ 16.0 million and we had cash provided by changes in working capital of $ 60.2 million . the working capital change was primarily due to the change in net settlement processing assets and obligations of $ 80.3 million and the change in accounts receivable of $ 13.4 million , partially offset by the change .
Question: what was the percentage that net income attributable to noncontrolling interests , net of tax noncontrolling interest , net of tax increased from 2008 to 2009?
Answer: | 2.5679 |
FINQA3132 | Please answer the given financial question based on the context.
Context: s c h e d u l e i v ace limited and subsidiaries s u p p l e m e n t a l i n f o r m a t i o n c o n c e r n i n g r e i n s u r a n c e premiums earned for the years ended december 31 , 2009 , 2008 , and 2007 ( in millions of u.s . dollars , except for percentages ) direct amount ceded to companies assumed from other companies net amount percentage of amount assumed to .
|for the years ended december 31 2009 2008 and 2007 ( in millions of u.s . dollars except for percentages )|direct amount|ceded to other companies|assumed from other companies|net amount|percentage of amount assumed to net|
|2009|$ 15415|$ 5943|$ 3768|$ 13240|28% ( 28 % )|
|2008|$ 16087|$ 6144|$ 3260|$ 13203|25% ( 25 % )|
|2007|$ 14673|$ 5834|$ 3458|$ 12297|28% ( 28 % )|
.
Question: what percent of the direct amount is assumed from other companies in 2009 , ( in millions ) ?
Answer: | 0.24444 |
FINQA3133 | Please answer the given financial question based on the context.
Context: ireland . holdings ireland , everest dublin holdings , ireland re and ireland insurance conduct business in ireland and are subject to taxation in ireland . aavailable information . the company 2019s annual reports on form 10-k , quarterly reports on form 10-q , current reports on form 8-k , proxy statements and amendments to those reports are available free of charge through the company 2019s internet website at http://www.everestre.com as soon as reasonably practicable after such reports are electronically filed with the securities and exchange commission ( the 201csec 201d ) . item 1a . risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities . if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly . risks relating to our business fluctuations in the financial markets could result in investment losses . prolonged and severe disruptions in the overall public and private debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio . although financial markets have significantly improved since 2008 , they could deteriorate in the future . there could also be disruption in individual market sectors , such as occurred in the energy sector in recent years . such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings . our results could be adversely affected by catastrophic events . we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism . any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations . by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of reinsurance , were as follows: .
|calendar year:|pre-tax catastrophe losses|
|( dollars in millions )||
|2018|$ 1800.2|
|2017|1472.6|
|2016|301.2|
|2015|53.8|
|2014|56.3|
our losses from future catastrophic events could exceed our projections . we use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic underwriting tool . we use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the placement of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area . these loss projections are approximations , reliant on a mix of quantitative and qualitative processes , and actual losses may exceed the projections by a material amount , resulting in a material adverse effect on our financial condition and results of operations. .
Question: what is the total pre-tax catastrophe losses from 2014 to 2018 in miilions
Answer: | 3684.1 |
FINQA3134 | 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 our net revenues by line item in the consolidated statements of earnings. .
|$ in millions|year ended december 2017|year ended december 2016|year ended december 2015|
|investment banking|$ 7371|$ 6273|$ 7027|
|investment management|5803|5407|5868|
|commissions and fees|3051|3208|3320|
|market making|7660|9933|9523|
|other principal transactions|5256|3200|5018|
|totalnon-interestrevenues|29141|28021|30756|
|interest income|13113|9691|8452|
|interest expense|10181|7104|5388|
|net interest income|2932|2587|3064|
|total net revenues|$ 32073|$ 30608|$ 33820|
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 . operating environment . 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 , particularly in fixed income , currency and commodity products . the price of natural gas decreased significantly during 2017 , while the price of oil increased compared with the end of 2016 . if the trend of low volatility continues over the long term and market-making activity levels remain low , or if investment banking activity levels , asset prices or assets under supervision decline , net revenues would likely be negatively impacted . see 201csegment operating results 201d below for further information about the operating environment and material trends and uncertainties that may impact our results of operations . the first half of 2016 included challenging trends in the operating environment for our business activities including concerns and uncertainties about global economic growth , central bank activity and the political uncertainty and economic implications surrounding the potential exit of the u.k . from the e.u . during the second half of 2016 , the operating environment improved , as global equity markets steadily increased and investment grade and high-yield credit spreads tightened . these trends provided a more favorable backdrop for our business activities . 2017 versus 2016 net revenues in the consolidated statements of earnings were $ 32.07 billion for 2017 , 5% ( 5 % ) higher than 2016 , due to significantly higher other principal transactions revenues , and higher investment banking revenues , investment management revenues and net interest income . these increases were partially offset by significantly lower market making revenues and lower commissions and fees . non-interest revenues . investment banking revenues in the consolidated statements of earnings were $ 7.37 billion for 2017 , 18% ( 18 % ) higher than 2016 . revenues in financial advisory were higher compared with 2016 , reflecting an increase in completed mergers and acquisitions transactions . revenues in underwriting were significantly higher compared with 2016 , due to significantly higher revenues in both debt underwriting , primarily reflecting an increase in industry-wide leveraged finance activity , and equity underwriting , reflecting an increase in industry-wide secondary offerings . 52 goldman sachs 2017 form 10-k .
Question: what is the growth rate in net revenues in 2016?
Answer: | -0.09497 |
FINQA3135 | Please answer the given financial question based on the context.
Context: stock performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the securities and exchange commission , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or the securities exchange act of 1934 , each as amended , except to the extent that sysco specifically incorporates such information by reference into such filing . the following stock performance graph compares the performance of sysco 2019s common stock to the s&p 500 index and to the s&p 500 food/ staple retail index for sysco 2019s last five fiscal years . the graph assumes that the value of the investment in our common stock , the s&p 500 index , and the s&p 500 food/staple index was $ 100 on the last trading day of fiscal 2006 , and that all dividends were reinvested . performance data for sysco , the s&p 500 index and the s&p 500 food/ staple retail index is provided as of the last trading day of each of our last five fiscal years . comparison of 5 year cumulative total return assumes initial investment of $ 100 .
||7/1/06|6/30/07|6/28/08|6/27/09|7/3/10|7/2/11|
|sysco corporation|$ 100|$ 110|$ 97|$ 82|$ 105|$ 120|
|s&p 500|100|120|105|77|88|117|
|s&p 500 food/staple retail index|100|107|111|92|93|120|
.
Question: what was the difference in percentage return of sysco corporation and the s&p 500 for the five years ended 7/2/11?
Answer: | 0.03 |
FINQA3136 | Please answer the given financial question based on the context.
Context: equity equity at december 31 , 2014 was $ 6.6 billion , a decrease of $ 1.6 billion from december 31 , 2013 . the decrease resulted primarily due to share repurchases of $ 2.3 billion , $ 273 million of dividends to shareholders , and an increase in accumulated other comprehensive loss of $ 760 million , partially offset by net income of $ 1.4 billion . the $ 760 million increase in accumulated other comprehensive loss from december 31 , 2013 , primarily reflects the following : 2022 negative net foreign currency translation adjustments of $ 504 million , which are attributable to the strengthening of the u.s . dollar against certain foreign currencies , 2022 an increase of $ 260 million in net post-retirement benefit obligations , 2022 net derivative gains of $ 5 million , and 2022 net investment losses of $ 1 million . review by segment general we serve clients through the following segments : 2022 risk solutions acts as an advisor and insurance and reinsurance broker , helping clients manage their risks , via consultation , as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network . 2022 hr solutions partners with organizations to solve their most complex benefits , talent and related financial challenges , and improve business performance by designing , implementing , communicating and administering a wide range of human capital , retirement , investment management , health care , compensation and talent management strategies . risk solutions .
|years ended december 31 ( millions except percentage data )|2014|2013|2012|
|revenue|$ 7834|$ 7789|$ 7632|
|operating income|1648|1540|1493|
|operating margin|21.0% ( 21.0 % )|19.8% ( 19.8 % )|19.6% ( 19.6 % )|
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 2014 , pricing was flat on average globally , and we would still consider this to be a "soft market." 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 premiums paid by insureds . additionally , continuing through 2014 , we faced difficult conditions as a result of continued weakness in the global economy , the repricing of credit risk and the deterioration of the financial markets . weak economic conditions in many markets around the globe have reduced our customers' demand for our retail brokerage and reinsurance brokerage products , which have had a negative impact on our operational results . risk solutions generated approximately 65% ( 65 % ) of our consolidated total revenues in 2014 . revenues are generated primarily through fees paid by clients , commissions and fees paid by insurance and reinsurance companies , and investment income on funds held on behalf of clients . our revenues vary from quarter to quarter throughout the year as a result of the timing of our clients' policy renewals , the net effect of new and lost business , the timing of services provided to our clients , and the income we earn on investments , which is heavily influenced by short-term interest rates . we operate in a highly competitive industry and compete with many retail insurance brokerage and agency firms , as well as with individual brokers , agents , and direct writers of insurance coverage . specifically , we address the highly specialized .
Question: what is the fluctuation between the lowest and average operating margin?
Answer: | 0.00533 |
FINQA3137 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis of financial condition and results of operations state street corporation | 89 $ 65.35 billion and $ 87.20 billion as of december 31 , 2017 and december 31 , 2016 , respectively . table 29 : components of average hqla by type of ( in millions ) december 31 , december 31 .
|( in millions )|december 31 2017|december 31 2016|
|excess central bank balances|$ 33584|$ 48407|
|u.s . treasuries|10278|17770|
|other investment securities|13422|15442|
|foreign government|8064|5585|
|total|$ 65348|$ 87204|
with respect to highly liquid short-term investments presented in the preceding table , due to the continued elevated level of client deposits as of december 31 , 2017 , we maintained cash balances in excess of regulatory requirements governing deposits with the federal reserve of approximately $ 33.58 billion at the federal reserve , the ecb and other non-u.s . central banks , compared to $ 48.40 billion as of december 31 , 2016 . the lower levels of deposits with central banks as of december 31 , 2017 compared to december 31 , 2016 was due to normal deposit volatility . liquid securities carried in our asset liquidity include securities pledged without corresponding advances from the frbb , the fhlb , and other non- u.s . central banks . state street bank is a member of the fhlb . this membership allows for advances of liquidity in varying terms against high-quality collateral , which helps facilitate asset-and-liability management . access to primary , intra-day and contingent liquidity provided by these utilities is an important source of contingent liquidity with utilization subject to underlying conditions . as of december 31 , 2017 and december 31 , 2016 , we had no outstanding primary credit borrowings from the frbb discount window or any other central bank facility , and as of the same dates , no fhlb advances were outstanding . in addition to the securities included in our asset liquidity , we have significant amounts of other unencumbered investment securities . the aggregate fair value of those securities was $ 66.10 billion as of december 31 , 2017 , compared to $ 54.40 billion as of december 31 , 2016 . these securities are available sources of liquidity , although not as rapidly deployed as those included in our asset liquidity . measures of liquidity include lcr , nsfr and tlac which are described in "supervision and regulation" included under item 1 , business , of this form 10-k . uses of liquidity significant uses of our liquidity could result from the following : withdrawals of client deposits ; draw- downs of unfunded commitments to extend credit or to purchase securities , generally provided through lines of credit ; and short-duration advance facilities . such circumstances would generally arise under stress conditions including deterioration in credit ratings . a recurring significant use of our liquidity involves our deployment of hqla from our investment portfolio to post collateral to financial institutions and participants in our agency lending program serving as sources of securities under our enhanced custody program . we had unfunded commitments to extend credit with gross contractual amounts totaling $ 26.49 billion and $ 26.99 billion as of december 31 , 2017 and december 31 , 2016 , respectively . these amounts do not reflect the value of any collateral . as of december 31 , 2017 , approximately 72% ( 72 % ) of our unfunded commitments to extend credit expire within one year . since many of our commitments are expected to expire or renew without being drawn upon , the gross contractual amounts do not necessarily represent our future cash requirements . information about our resolution planning and the impact actions under our resolution plans could have on our liquidity is provided in "supervision and regulation" included under item 1 . business , of this form 10-k . funding deposits we provide products and services including custody , accounting , administration , daily pricing , foreign exchange services , cash management , financial asset management , securities finance and investment advisory services . as a provider of these products and services , we generate client deposits , which have generally provided a stable , low-cost source of funds . as a global custodian , clients place deposits with state street entities in various currencies . as of december 31 , 2017 and december 31 , 2016 , approximately 60% ( 60 % ) of our average client deposit balances were denominated in u.s . dollars , approximately 20% ( 20 % ) in eur , 10% ( 10 % ) in gbp and 10% ( 10 % ) in all other currencies . for the past several years , we have frequently experienced higher client deposit inflows toward the end of each fiscal quarter or the end of the fiscal year . as a result , we believe average client deposit balances are more reflective of ongoing funding than period-end balances. .
Question: what portion of the total investments is held by foreign government of december 31 , 2017?
Answer: | 0.1234 |
FINQA3138 | Please answer the given financial question based on the context.
Context: kimco realty corporation and subsidiaries job title kimco realty ar revision 6 serial date / time tuesday , april 03 , 2007 /10:32 pm job number 142704 type current page no . 65 operator pm2 <12345678> at december 31 , 2006 and 2005 , the company 2019s net invest- ment in the leveraged lease consisted of the following ( in mil- lions ) : .
||2006|2005|
|remaining net rentals|$ 62.3|$ 68.9|
|estimated unguaranteed residual value|40.5|43.8|
|non-recourse mortgage debt|-48.4 ( 48.4 )|-52.8 ( 52.8 )|
|unearned and deferred income|-50.7 ( 50.7 )|-55.9 ( 55.9 )|
|net investment in leveraged lease|$ 3.7|$ 4.0|
9 . mortgages and other financing receivables : during january 2006 , the company provided approximately $ 16.0 million as its share of a $ 50.0 million junior participation in a $ 700.0 million first mortgage loan , in connection with a private investment firm 2019s acquisition of a retailer . this loan participation bore interest at libor plus 7.75% ( 7.75 % ) per annum and had a two-year term with a one-year extension option and was collateralized by certain real estate interests of the retailer . during june 2006 , the borrower elected to pre-pay the outstanding loan balance of approximately $ 16.0 million in full satisfaction of this loan . additionally , during january 2006 , the company provided approximately $ 5.2 million as its share of an $ 11.5 million term loan to a real estate developer for the acquisition of a 59 acre land parcel located in san antonio , tx . this loan is interest only at a fixed rate of 11.0% ( 11.0 % ) for a term of two years payable monthly and collateralized by a first mortgage on the subject property . as of december 31 , 2006 , the outstanding balance on this loan was approximately $ 5.2 million . during february 2006 , the company committed to provide a one year $ 17.2 million credit facility at a fixed rate of 8.0% ( 8.0 % ) for a term of nine months and 9.0% ( 9.0 % ) for the remaining term to a real estate investor for the recapitalization of a discount and entertain- ment mall that it currently owns . during 2006 , this facility was fully paid and was terminated . during april 2006 , the company provided two separate mortgages aggregating $ 14.5 million on a property owned by a real estate investor . proceeds were used to payoff the existing first mortgage , buyout the existing partner and for redevelopment of the property . the mortgages bear interest at 8.0% ( 8.0 % ) per annum and mature in 2008 and 2013 . these mortgages are collateralized by the subject property . as of december 31 , 2006 , the aggregate outstanding balance on these mortgages was approximately $ 15.0 million , including $ 0.5 million of accrued interest . during may 2006 , the company provided a cad $ 23.5 million collateralized credit facility at a fixed rate of 8.5% ( 8.5 % ) per annum for a term of two years to a real estate company for the execution of its property acquisitions program . the credit facility is guaranteed by the real estate company . the company was issued 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company as a loan origination fee . during august 2006 , the company increased the credit facility to cad $ 45.0 million and received an additional 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company . as of december 31 , 2006 , the outstand- ing balance on this credit facility was approximately cad $ 3.6 million ( approximately usd $ 3.1 million ) . during september 2005 , a newly formed joint venture , in which the company had an 80% ( 80 % ) interest , acquired a 90% ( 90 % ) interest in a $ 48.4 million mortgage receivable for a purchase price of approximately $ 34.2 million . this loan bore interest at a rate of three-month libor plus 2.75% ( 2.75 % ) per annum and was scheduled to mature on january 12 , 2010 . a 626-room hotel located in lake buena vista , fl collateralized the loan . the company had determined that this joint venture entity was a vie and had further determined that the company was the primary benefici- ary of this vie and had therefore consolidated it for financial reporting purposes . during march 2006 , the joint venture acquired the remaining 10% ( 10 % ) of this mortgage receivable for a purchase price of approximately $ 3.8 million . during june 2006 , the joint venture accepted a pre-payment of approximately $ 45.2 million from the borrower as full satisfaction of this loan . during august 2006 , the company provided $ 8.8 million as its share of a $ 13.2 million 12-month term loan to a retailer for general corporate purposes . this loan bears interest at a fixed rate of 12.50% ( 12.50 % ) with interest payable monthly and a balloon payment for the principal balance at maturity . the loan is collateralized by the underlying real estate of the retailer . additionally , the company funded $ 13.3 million as its share of a $ 20.0 million revolving debtor-in-possession facility to this retailer . the facility bears interest at libor plus 3.00% ( 3.00 % ) and has an unused line fee of 0.375% ( 0.375 % ) . this credit facility is collateralized by a first priority lien on all the retailer 2019s assets . as of december 31 , 2006 , the compa- ny 2019s share of the outstanding balance on this loan and credit facility was approximately $ 7.6 million and $ 4.9 million , respec- tively . during september 2006 , the company provided a mxp 57.3 million ( approximately usd $ 5.3 million ) loan to an owner of an operating property in mexico . the loan , which is collateralized by the property , bears interest at 12.0% ( 12.0 % ) per annum and matures in 2016 . the company is entitled to a participation feature of 25% ( 25 % ) of annual cash flows after debt service and 20% ( 20 % ) of the gain on sale of the property . as of december 31 , 2006 , the outstand- ing balance on this loan was approximately mxp 57.8 million ( approximately usd $ 5.3 million ) . during november 2006 , the company committed to provide a mxp 124.8 million ( approximately usd $ 11.5 million ) loan to an owner of a land parcel in acapulco , mexico . the loan , which is collateralized with an operating property owned by the bor- rower , bears interest at 10% ( 10 % ) per annum and matures in 2016 . the company is entitled to a participation feature of 20% ( 20 % ) of excess cash flows and gains on sale of the property . as of decem- ber 31 , 2006 , the outstanding balance on this loan was mxp 12.8 million ( approximately usd $ 1.2 million ) . .
Question: what is the currency exchange rate cad to usd used to convert the value of the outstanding credit facility as of december 31 , 3006?
Answer: | 1.16129 |
FINQA3139 | Please answer the given financial question based on the context.
Context: and machine tooling to enhance manufacturing operations , and ongoing replacements of manufacturing and distribution equipment . capital spending in all three years also included spending for the replacement and enhancement of the company 2019s global enterprise resource planning ( erp ) management information systems , as well as spending to enhance the company 2019s corporate headquarters and research and development facilities in kenosha , wisconsin . snap-on believes that its cash generated from operations , as well as its available cash on hand and funds available from its credit facilities will be sufficient to fund the company 2019s capital expenditure requirements in 2013 . in 2010 , snap-on acquired the remaining 40% ( 40 % ) interest in snap-on asia manufacturing ( zhejiang ) co. , ltd. , the company 2019s tool manufacturing operation in xiaoshan , china , for a purchase price of $ 7.7 million and $ 0.1 million of transaction costs ; snap-on acquired the initial 60% ( 60 % ) interest in 2008 . see note 2 to the consolidated financial statements for additional information . financing activities net cash used by financing activities was $ 127.0 million in 2012 . net cash used by financing activities of $ 293.7 million in 2011 included the august 2011 repayment of $ 200 million of unsecured 6.25% ( 6.25 % ) notes upon maturity with available cash . in december 2010 , snap-on sold $ 250 million of unsecured 4.25% ( 4.25 % ) long-term notes at a discount ; snap-on is using , and has used , the $ 247.7 million of proceeds from the sale of these notes , net of $ 1.6 million of transaction costs , for general corporate purposes , which included working capital , capital expenditures , repayment of all or a portion of the company 2019s $ 200 million , 6.25% ( 6.25 % ) unsecured notes that matured in august 2011 , and the financing of finance and contract receivables , primarily related to soc . in january 2010 , snap-on repaid $ 150 million of unsecured floating rate debt upon maturity with available cash . proceeds from stock purchase and option plan exercises totaled $ 46.8 million in 2012 , $ 25.7 million in 2011 and $ 23.7 million in 2010 . snap-on has undertaken stock repurchases from time to time to offset dilution created by shares issued for employee and franchisee stock purchase plans , stock options and other corporate purposes . in 2012 , snap-on repurchased 1180000 shares of its common stock for $ 78.1 million under its previously announced share repurchase programs . as of 2012 year end , snap-on had remaining availability to repurchase up to an additional $ 180.9 million in common stock pursuant to its board of directors 2019 ( the 201cboard 201d ) authorizations . the purchase of snap-on common stock is at the company 2019s discretion , subject to prevailing financial and market conditions . snap-on repurchased 628000 shares of its common stock for $ 37.4 million in 2011 ; snap-on repurchased 152000 shares of its common stock for $ 8.7 million in 2010 . snap-on believes that its cash generated from operations , available cash on hand , and funds available from its credit facilities , will be sufficient to fund the company 2019s share repurchases , if any , in 2013 . snap-on has paid consecutive quarterly cash dividends , without interruption or reduction , since 1939 . cash dividends paid in 2012 , 2011 and 2010 totaled $ 81.5 million , $ 76.7 million and $ 71.3 million , respectively . on november 1 , 2012 , the company announced that its board increased the quarterly cash dividend by 11.8% ( 11.8 % ) to $ 0.38 per share ( $ 1.52 per share per year ) . quarterly dividends declared in 2012 were $ 0.38 per share in the fourth quarter and $ 0.34 per share in the first three quarters ( $ 1.40 per share for the year ) . quarterly dividends in 2011 were $ 0.34 per share in the fourth quarter and $ 0.32 per share in the first three quarters ( $ 1.30 per share for the year ) . quarterly dividends in 2010 were $ 0.32 per share in the fourth quarter and $ 0.30 per share in the first three quarters ( $ 1.22 per share for the year ) . .
||2012|2011|2010|
|cash dividends paid per common share|$ 1.40|$ 1.30|$ 1.22|
|cash dividends paid as a percent of prior-year retained earnings|4.4% ( 4.4 % )|4.7% ( 4.7 % )|4.7% ( 4.7 % )|
cash dividends paid as a percent of prior-year retained earnings 4.4% ( 4.4 % ) 4.7% ( 4.7 % ) snap-on believes that its cash generated from operations , available cash on hand and funds available from its credit facilities will be sufficient to pay dividends in 2013 . off-balance-sheet arrangements except as included below in the section labeled 201ccontractual obligations and commitments 201d and note 15 to the consolidated financial statements , the company had no off-balance-sheet arrangements as of 2012 year end . 2012 annual report 47 .
Question: what was the ratio of the snap-on share repurchase in 2011 compared to 2010
Answer: | 4.13158 |
FINQA3140 | Please answer the given financial question based on the context.
Context: table of content part ii item 5 . market for the registrant's common equity , related stockholder matters and issuer purchases of equity securities our common stock is traded on the new york stock exchange under the trading symbol 201chfc . 201d in september 2018 , our board of directors approved a $ 1 billion share repurchase program , which replaced all existing share repurchase programs , authorizing us to repurchase common stock in the open market or through privately negotiated transactions . the timing and amount of stock repurchases will depend on market conditions and corporate , regulatory and other relevant considerations . this program may be discontinued at any time by the board of directors . the following table includes repurchases made under this program during the fourth quarter of 2018 . period total number of shares purchased average price paid per share total number of shares purchased as part of publicly announced plans or programs maximum dollar value of shares that may yet be purchased under the plans or programs .
|period|total number ofshares purchased|average pricepaid per share|total number ofshares purchasedas part of publicly announced plans or programs|maximum dollarvalue of sharesthat may yet bepurchased under the plans or programs|
|october 2018|1360987|$ 66.34|1360987|$ 859039458|
|november 2018|450000|$ 61.36|450000|$ 831427985|
|december 2018|912360|$ 53.93|810000|$ 787613605|
|total for october to december 2018|2723347||2620987||
during the quarter ended december 31 , 2018 , 102360 shares were withheld from certain executives and employees under the terms of our share-based compensation agreements to provide funds for the payment of payroll and income taxes due at vesting of restricted stock awards . as of february 13 , 2019 , we had approximately 97419 stockholders , including beneficial owners holding shares in street name . we intend to consider the declaration of a dividend on a quarterly basis , although there is no assurance as to future dividends since they are dependent upon future earnings , capital requirements , our financial condition and other factors. .
Question: for the quarter ended december 312018 what was the percentage of shares acquired in december
Answer: | 0.33501 |
FINQA3141 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries management's financial discussion and analysis methodology of computing massachusetts state income taxes resulting from legislation passed in the third quarter 2008 , which resulted in an income tax benefit of approximately $ 18.8 million . these factors were partially offset by : income taxes recorded by entergy power generation , llc , prior to its liquidation , resulting from the redemption payments it received in connection with its investment in entergy nuclear power marketing , llc during the third quarter 2008 , which resulted in an income tax expense of approximately $ 16.1 million ; book and tax differences for utility plant items and state income taxes at the utility operating companies , including the flow-through treatment of the entergy arkansas write-offs discussed above . the effective income tax rate for 2007 was 30.7% ( 30.7 % ) . the reduction in the effective income tax rate versus the federal statutory rate of 35% ( 35 % ) in 2007 is primarily due to : a reduction in income tax expense due to a step-up in the tax basis on the indian point 2 non-qualified decommissioning trust fund resulting from restructuring of the trusts , which reduced deferred taxes on the trust fund and reduced current tax expense ; the resolution of tax audit issues involving the 2002-2003 audit cycle ; an adjustment to state income taxes for non-utility nuclear to reflect the effect of a change in the methodology of computing new york state income taxes as required by that state's taxing authority ; book and tax differences related to the allowance for equity funds used during construction ; and the amortization of investment tax credits . these factors were partially offset by book and tax differences for utility plant items and state income taxes at the utility operating companies . see note 3 to the financial statements for a reconciliation of the federal statutory rate of 35.0% ( 35.0 % ) to the effective income tax rates , and for additional discussion regarding income taxes . liquidity and capital resources this section discusses entergy's capital structure , capital spending plans and other uses of capital , sources of capital , and the cash flow activity presented in the cash flow statement . capital structure entergy's capitalization is balanced between equity and debt , as shown in the following table . the decrease in the debt to capital percentage from 2008 to 2009 is primarily the result of an increase in shareholders' equity primarily due to an increase in retained earnings , partially offset by repurchases of common stock , along with a decrease in borrowings under entergy corporation's revolving credit facility . the increase in the debt to capital percentage from 2007 to 2008 is primarily the result of additional borrowings under entergy corporation's revolving credit facility. .
||2009|2008|2007|
|net debt to net capital at the end of the year|53.5% ( 53.5 % )|55.6% ( 55.6 % )|54.7% ( 54.7 % )|
|effect of subtracting cash from debt|3.8% ( 3.8 % )|4.1% ( 4.1 % )|2.9% ( 2.9 % )|
|debt to capital at the end of the year|57.3% ( 57.3 % )|59.7% ( 59.7 % )|57.6% ( 57.6 % )|
.
Question: what is the growth rate of net debt to net capital ratio from 2008 to 2009?
Answer: | -0.03777 |
FINQA3142 | Please answer the given financial question based on the context.
Context: depreciation and amortization included in operating segment profit for the years ended december 31 , 2008 , 2007 and 2006 was as follows ( in millions ) : .
||2008|2007|2006|
|americas|$ 78.5|$ 66.9|$ 56.7|
|europe|57.0|60.7|46.5|
|asia pacific|25.6|22.7|18.7|
|global operations and corporate functions|114.0|79.7|75.5|
|total|$ 275.1|$ 230.0|$ 197.4|
15 . leases future minimum rental commitments under non- cancelable operating leases in effect as of december 31 , 2008 were $ 38.2 million for 2009 , $ 30.1 million for 2010 , $ 20.9 million for 2011 , $ 15.9 million for 2012 , $ 14.3 million for 2013 and $ 29.9 million thereafter . total rent expense for the years ended december 31 , 2008 , 2007 and 2006 aggregated $ 41.4 million , $ 37.1 million and $ 31.1 million , respectively . 16 . commitments and contingencies intellectual property and product liability-related litigation in july 2008 , we temporarily suspended marketing and distribution of the durom bb acetabular component ( durom cup ) in the u.s . to allow us to update product labeling to provide more detailed surgical technique instructions to surgeons and implement a surgical training program in the u.s . following our announcement , product liability lawsuits and other claims have been asserted against us , some of which we have settled . there are a number of claims still pending and we expect additional claims will be submitted . we recorded a provision of $ 47.5 million in the third quarter of 2008 , representing management 2019s estimate of these durom cup-related claims . we increased that provision by $ 21.5 million in the fourth quarter of 2008 . the provision is limited to revisions within two years of an original surgery that occurred prior to july 2008 . these parameters are consistent with our data which indicates that cup loosenings associated with surgical technique are most likely to occur within that time period . any claims received outside of these defined parameters will be managed in the normal course and reflected in our standard product liability accruals . on february 15 , 2005 , howmedica osteonics corp . filed an action against us and an unrelated party in the united states district court for the district of new jersey alleging infringement of u.s . patent nos . 6174934 ; 6372814 ; 6664308 ; and 6818020 . on june 13 , 2007 , the court granted our motion for summary judgment on the invalidity of the asserted claims of u.s . patent nos . 6174934 ; 6372814 ; and 6664308 by ruling that all of the asserted claims are invalid for indefiniteness . on august 19 , 2008 , the court granted our motion for summary judgment of non- infringement of certain claims of u.s . patent no . 6818020 , reducing the number of claims at issue in the suit to five . we continue to believe that our defenses against infringement of the remaining claims are valid and meritorious , and we intend to defend this lawsuit vigorously . in addition to certain claims related to the durom cup discussed above , we are also subject to product liability and other claims and lawsuits arising in the ordinary course of business , for which we maintain insurance , subject to self- insured retention limits . we establish accruals for product liability and other claims in conjunction with outside counsel based on current information and historical settlement information for open claims , related fees and claims incurred but not reported . while it is not possible to predict with certainty the outcome of these cases , it is the opinion of management that , upon ultimate resolution , liabilities from these cases in excess of those recorded , if any , will not have a material adverse effect on our consolidated financial position , results of operations or cash flows . government investigations in march 2005 , the u.s . department of justice through the u.s . attorney 2019s office in newark , new jersey commenced an investigation of us and four other orthopaedic companies pertaining to consulting contracts , professional service agreements and other agreements by which remuneration is provided to orthopaedic surgeons . on september 27 , 2007 , we reached a settlement with the government to resolve all claims related to this investigation . as part of the settlement , we entered into a settlement agreement with the u.s . through the u.s . department of justice and the office of inspector general of the department of health and human services ( the 201coig-hhs 201d ) . in addition , we entered into a deferred prosecution agreement ( the 201cdpa 201d ) with the u.s . attorney 2019s office for the district of new jersey ( the 201cu.s . attorney 201d ) and a corporate integrity agreement ( the 201ccia 201d ) with the oig- hhs . we did not admit any wrongdoing , plead guilty to any criminal charges or pay any criminal fines as part of the settlement . we settled all civil and administrative claims related to the federal investigation by making a settlement payment to the u.s . government of $ 169.5 million . under the terms of the dpa , the u.s . attorney filed a criminal complaint in the u.s . district court for the district of new jersey charging us with conspiracy to commit violations of the anti-kickback statute ( 42 u.s.c . a7 1320a-7b ) during the years 2002 through 2006 . the court deferred prosecution of the criminal complaint during the 18-month term of the dpa . the u.s . attorney will seek dismissal of the criminal complaint after the 18-month period if we comply with the provisions of the dpa . the dpa provides for oversight by a federally-appointed monitor . under the cia , which has a term of five years , we agreed , among other provisions , to continue the operation of our enhanced corporate compliance program , designed to promote compliance with federal healthcare program z i m m e r h o l d i n g s , i n c . 2 0 0 8 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) %%transmsg*** transmitting job : c48761 pcn : 060000000 ***%%pcmsg|60 |00012|yes|no|02/24/2009 06:10|0|0|page is valid , no graphics -- color : d| .
Question: what percent does total depreciation & amortization expenses increase between 2006 and 2008?
Answer: | 0.39362 |
FINQA3143 | Please answer the given financial question based on the context.
Context: taxing authorities could challenge our historical and future tax positions . our future effective tax rates could be affected by changes in the mix of earnings in countries with differing statutory rates and changes in tax laws or their interpretation including changes related to tax holidays or tax incentives . our taxes could increase if certain tax holidays or incentives are not renewed upon expiration , or if tax rates or regimes applicable to us in such jurisdictions are otherwise increased . the amount of tax we pay is subject to our interpretation of applicable tax laws in the jurisdictions in which we file . we have taken and will continue to take tax positions based on our interpretation of such tax laws . in particular , we will seek to organize and operate ourselves in such a way that we are and remain tax resident in the united kingdom . additionally , in determining the adequacy of our provision for income taxes , we regularly assess the likelihood of adverse outcomes resulting from tax examinations . while it is often difficult to predict the final outcome or the timing of the resolution of a tax examination , our reserves for uncertain tax benefits reflect the outcome of tax positions that are more likely than not to occur . while we believe that we have complied with all applicable tax laws , there can be no assurance that a taxing authority will not have a different interpretation of the law and assess us with additional taxes . should additional taxes be assessed , this may result in a material adverse effect on our results of operations and financial condition . item 1b . unresolved staff comments we have no unresolved sec staff comments to report . item 2 . properties as of december 31 , 2016 , we owned or leased 126 major manufacturing sites and 15 major technical centers . a manufacturing site may include multiple plants and may be wholly or partially owned or leased . we also have many smaller manufacturing sites , sales offices , warehouses , engineering centers , joint ventures and other investments strategically located throughout the world . we have a presence in 46 countries . the following table shows the regional distribution of our major manufacturing sites by the operating segment that uses such facilities : north america europe , middle east & africa asia pacific south america total .
||north america|europemiddle east& africa|asia pacific|south america|total|
|electrical/electronic architecture|32|34|25|5|96|
|powertrain systems|4|8|5|1|18|
|electronics and safety|3|6|3|2014|12|
|total|39|48|33|6|126|
in addition to these manufacturing sites , we had 15 major technical centers : five in north america ; five in europe , middle east and africa ; four in asia pacific ; and one in south america . of our 126 major manufacturing sites and 15 major technical centers , which include facilities owned or leased by our consolidated subsidiaries , 75 are primarily owned and 66 are primarily leased . we frequently review our real estate portfolio and develop footprint strategies to support our customers 2019 global plans , while at the same time supporting our technical needs and controlling operating expenses . we believe our evolving portfolio will meet current and anticipated future needs . item 3 . legal proceedings we are from time to time subject to various actions , claims , suits , government investigations , and other proceedings incidental to our business , including those arising out of alleged defects , breach of contracts , competition and antitrust matters , product warranties , intellectual property matters , personal injury claims and employment-related matters . it is our opinion that the outcome of such matters will not have a material adverse impact on our consolidated financial position , results of operations , or cash flows . with respect to warranty matters , although we cannot ensure that the future costs of warranty claims by customers will not be material , we believe our established reserves are adequate to cover potential warranty settlements . however , the final amounts required to resolve these matters could differ materially from our recorded estimates. .
Question: what percentage of major manufacturing sites are in asia pacific?
Answer: | 0.2619 |
FINQA3144 | Please answer the given financial question based on the context.
Context: lkq corporation and subsidiaries notes to consolidated financial statements ( continued ) note 5 . long-term obligations ( continued ) as part of the consideration for business acquisitions completed during 2007 , 2006 and 2005 , we issued promissory notes totaling approximately $ 1.7 million , $ 7.2 million and $ 6.4 million , respectively . the notes bear interest at annual rates of 3.0% ( 3.0 % ) to 6.0% ( 6.0 % ) , and interest is payable at maturity or in monthly installments . we also assumed certain liabilities in connection with a business acquisition during the second quarter of 2005 , including a promissory note with a remaining principle balance of approximately $ 0.2 million . the annual interest rate on the note , which was retired during 2006 , was note 6 . commitments and contingencies operating leases we are obligated under noncancelable operating leases for corporate office space , warehouse and distribution facilities , trucks and certain equipment . the future minimum lease commitments under these leases at december 31 , 2007 are as follows ( in thousands ) : years ending december 31: .
|2008|$ 42335|
|2009|33249|
|2010|25149|
|2011|17425|
|2012|11750|
|thereafter|28581|
|future minimum lease payments|$ 158489|
rental expense for operating leases was approximately $ 27.4 million , $ 18.6 million and $ 12.2 million during the years ended december 31 , 2007 , 2006 and 2005 , respectively . we guaranty the residual values of the majority of our truck and equipment operating leases . the residual values decline over the lease terms to a defined percentage of original cost . in the event the lessor does not realize the residual value when a piece of equipment is sold , we would be responsible for a portion of the shortfall . similarly , if the lessor realizes more than the residual value when a piece of equipment is sold , we would be paid the amount realized over the residual value . had we terminated all of our operating leases subject to these guaranties at december 31 , 2007 , the guarantied residual value would have totaled approximately $ 24.0 million . litigation and related contingencies on december 2 , 2005 , ford global technologies , llc ( 2018 2018ford 2019 2019 ) filed a complaint with the united states international trade commission ( 2018 2018usitc 2019 2019 ) against keystone and five other named respondents , including four taiwan-based manufacturers . on december 12 , 2005 , ford filed an amended complaint . both the complaint and the amended complaint contended that keystone and the other respondents infringed 14 design patents that ford alleges cover eight parts on the 2004-2005 .
Question: what was the percentage change in rental expense from 2005 to 2006?
Answer: | 0.52459 |
FINQA3145 | Please answer the given financial question based on the context.
Context: visa inc . notes to consolidated financial statements 2014 ( continued ) september 30 , 2013 market condition is based on the company 2019s total shareholder return ranked against that of other companies that are included in the standard & poor 2019s 500 index . the fair value of the performance- based shares , incorporating the market condition , is estimated on the grant date using a monte carlo simulation model . the grant-date fair value of performance-based shares in fiscal 2013 , 2012 and 2011 was $ 164.14 , $ 97.84 and $ 85.05 per share , respectively . earned performance shares granted in fiscal 2013 and 2012 vest approximately three years from the initial grant date . earned performance shares granted in fiscal 2011 vest in two equal installments approximately two and three years from their respective grant dates . all performance awards are subject to earlier vesting in full under certain conditions . compensation cost for performance-based shares is initially estimated based on target performance . it is recorded net of estimated forfeitures and adjusted as appropriate throughout the performance period . at september 30 , 2013 , there was $ 15 million of total unrecognized compensation cost related to unvested performance-based shares , which is expected to be recognized over a weighted-average period of approximately 1.0 years . note 17 2014commitments and contingencies commitments . the company leases certain premises and equipment throughout the world with varying expiration dates . the company incurred total rent expense of $ 94 million , $ 89 million and $ 76 million in fiscal 2013 , 2012 and 2011 , respectively . future minimum payments on leases , and marketing and sponsorship agreements per fiscal year , at september 30 , 2013 , are as follows: .
|( in millions )|2014|2015|2016|2017|2018|thereafter|total|
|operating leases|$ 100|$ 77|$ 43|$ 35|$ 20|$ 82|$ 357|
|marketing and sponsorships|116|117|61|54|54|178|580|
|total|$ 216|$ 194|$ 104|$ 89|$ 74|$ 260|$ 937|
select sponsorship agreements require the company to spend certain minimum amounts for advertising and marketing promotion over the life of the contract . for commitments where the individual years of spend are not specified in the contract , the company has estimated the timing of when these amounts will be spent . in addition to the fixed payments stated above , select sponsorship agreements require the company to undertake marketing , promotional or other activities up to stated monetary values to support events which the company is sponsoring . the stated monetary value of these activities typically represents the value in the marketplace , which may be significantly in excess of the actual costs incurred by the company . client incentives . the company has agreements with financial institution clients and other business partners for various programs designed to build payments volume , increase visa-branded card and product acceptance and win merchant routing transactions . these agreements , with original terms ranging from one to thirteen years , can provide card issuance and/or conversion support , volume/growth targets and marketing and program support based on specific performance requirements . these agreements are designed to encourage client business and to increase overall visa-branded payment and transaction volume , thereby reducing per-unit transaction processing costs and increasing brand awareness for all visa clients . payments made that qualify for capitalization , and obligations incurred under these programs are reflected on the consolidated balance sheet . client incentives are recognized primarily as a reduction .
Question: in 2013 what was the percent of the future minimum payments on leases , and marketing and sponsorship for operating leases that was due in
Answer: | 0.09804 |
FINQA3146 | Please answer the given financial question based on the context.
Context: page 73 of 98 notes to consolidated financial statements ball corporation and subsidiaries 15 . shareholders 2019 equity at december 31 , 2006 , the company had 550 million shares of common stock and 15 million shares of preferred stock authorized , both without par value . preferred stock includes 120000 authorized but unissued shares designated as series a junior participating preferred stock . under the company 2019s shareholder rights agreement dated july 26 , 2006 , one preferred stock purchase right ( right ) is attached to each outstanding share of ball corporation common stock . subject to adjustment , each right entitles the registered holder to purchase from the company one one-thousandth of a share of series a junior participating preferred stock at an exercise price of $ 185 per right . if a person or group acquires 10 percent or more of the company 2019s outstanding common stock ( or upon occurrence of certain other events ) , the rights ( other than those held by the acquiring person ) become exercisable and generally entitle the holder to purchase shares of ball corporation common stock at a 50 percent discount . the rights , which expire in 2016 , are redeemable by the company at a redemption price of $ 0.001 per right and trade with the common stock . exercise of such rights would cause substantial dilution to a person or group attempting to acquire control of the company without the approval of ball 2019s board of directors . the rights would not interfere with any merger or other business combinations approved by the board of directors . the company reduced its share repurchase program in 2006 to $ 45.7 million , net of issuances , compared to $ 358.1 million net repurchases in 2005 and $ 50 million in 2004 . the net repurchases in 2006 did not include a forward contract entered into in december 2006 for the repurchase of 1200000 shares . the contract was settled on january 5 , 2007 , for $ 51.9 million in cash . in connection with the employee stock purchase plan , the company contributes 20 percent of up to $ 500 of each participating employee 2019s monthly payroll deduction toward the purchase of ball corporation common stock . company contributions for this plan were $ 3.2 million in 2006 , $ 3.2 million in 2005 and $ 2.7 million in 2004 . accumulated other comprehensive earnings ( loss ) the activity related to accumulated other comprehensive earnings ( loss ) was as follows : ( $ in millions ) foreign currency translation pension and postretirement items , net of tax effective financial derivatives , net of tax accumulated comprehensive earnings ( loss ) .
|( $ in millions )|foreign currency translation|pension and other postretirement items net of tax|effective financial derivatives net of tax|accumulated other comprehensive earnings ( loss )|
|december 31 2003|$ 80.7|$ -93.1 ( 93.1 )|$ 11.0|$ -1.4 ( 1.4 )|
|2004 change|68.2|-33.2 ( 33.2 )|-0.4 ( 0.4 )|34.6|
|december 31 2004|148.9|-126.3 ( 126.3 )|10.6|33.2|
|2005 change|-74.3 ( 74.3 )|-43.6 ( 43.6 )|-16.0 ( 16.0 )|-133.9 ( 133.9 )|
|december 31 2005|74.6|-169.9 ( 169.9 )|-5.4 ( 5.4 )|-100.7 ( 100.7 )|
|2006 change|57.2|8.0|6.0|71.2|
|december 31 2006|$ 131.8|$ -161.9 ( 161.9 )|$ 0.6|$ -29.5 ( 29.5 )|
notwithstanding the 2005 distribution pursuant to the jobs act , management 2019s intention is to indefinitely reinvest foreign earnings . therefore , no taxes have been provided on the foreign currency translation component for any period . the change in the minimum pension liability is presented net of related tax expense of $ 2.9 million for 2006 and related tax benefits of $ 27.3 million and $ 20.8 million for 2005 and 2004 , respectively . the change in the effective financial derivatives is presented net of related tax expense of $ 5.7 million for 2006 , related tax benefit of $ 10.7 million for 2005 and related tax benefit of $ 0.2 million for 2004. .
Question: what was the percentage reduction in the share repurchase program , from 2005 to 2006?
Answer: | 0.87238 |
FINQA3147 | Please answer the given financial question based on the context.
Context: potentially responsible parties , and existing technology , laws , and regulations . the ultimate liability for remediation is difficult to determine because of the number of potentially responsible parties involved , site- specific cost sharing arrangements with other potentially responsible parties , the degree of contamination by various wastes , the scarcity and quality of volumetric data related to many of the sites , and the speculative nature of remediation costs . current obligations are not expected to have a material adverse effect on our consolidated results of operations , financial condition , or liquidity . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use third-party actuaries to assist us with measuring the expense and liability , including unasserted claims . the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents . under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements . we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work . annual expenses for personal injury-related events were $ 240 million in 2006 , $ 247 million in 2005 , and $ 288 million in 2004 . as of december 31 , 2006 and 2005 , we had accrued liabilities of $ 631 million and $ 619 million for future personal injury costs , respectively , of which $ 233 million and $ 274 million was recorded in current liabilities as accrued casualty costs , respectively . our personal injury liability is discounted to present value using applicable u.s . treasury rates . approximately 87% ( 87 % ) of the recorded liability related to asserted claims , and approximately 13% ( 13 % ) related to unasserted claims . estimates can vary over time due to evolving trends in litigation . our personal injury claims activity was as follows : claims activity 2006 2005 2004 .
|claims activity|2006|2005|2004|
|open claims beginning balance|4197|4028|4085|
|new claims|4190|4584|4366|
|settled or dismissed claims|-4261 ( 4261 )|-4415 ( 4415 )|-4423 ( 4423 )|
|open claims ending balance at december 31|4126|4197|4028|
depreciation 2013 the railroad industry is capital intensive . properties are carried at cost . provisions for depreciation are computed principally on the straight-line method based on estimated service lives of depreciable property . the lives are calculated using a separate composite annual percentage rate for each depreciable property group , based on the results of internal depreciation studies . we are required to submit a report on depreciation studies and proposed depreciation rates to the stb for review and approval every three years for equipment property and every six years for road property . the cost ( net of salvage ) of depreciable railroad property retired or replaced in the ordinary course of business is charged to accumulated depreciation , and no gain or loss is recognized . a gain or loss is recognized in other income for all other property upon disposition because the gain or loss is not part of rail operations . the cost of internally developed software is capitalized and amortized over a five-year period . significant capital spending in recent years increased the total value of our depreciable assets . cash capital spending totaled $ 2.2 billion for the year ended december 31 , 2006 . for the year ended december 31 , 2006 , depreciation expense was $ 1.2 billion . we use various methods to estimate useful lives for each group of depreciable property . due to the capital intensive nature of the business and the large base of depreciable assets , variances to those estimates could have a material effect on our consolidated financial statements . if the estimated useful lives of all depreciable assets were increased by one year , annual depreciation expense would decrease by approximately $ 43 million . if the estimated useful lives of all assets to be depreciated were decreased by one year , annual depreciation expense would increase by approximately $ 45 million . income taxes 2013 as required under fasb statement no . 109 , accounting for income taxes , we account for income taxes by recording taxes payable or refundable for the current year and deferred tax assets and liabilities for the future tax consequences of events that have been recognized in our financial statements or tax returns . these .
Question: what was the percentage increase in the open claims ending balance at december 312005 from 2004
Answer: | 0.04196 |
FINQA3148 | Please answer the given financial question based on the context.
Context: on december 19 , 2011 , we redeemed the remaining $ 175 million of our 6.5% ( 6.5 % ) notes due april 15 , 2012 , and all $ 300 million of our outstanding 6.125% ( 6.125 % ) notes due january 15 , 2012 . the redemptions resulted in an early extinguishment charge of $ 5 million in the fourth quarter of 2011 . receivables securitization facility 2013 as of december 31 , 2013 and 2012 , we recorded $ 0 and $ 100 million , respectively , as secured debt under our receivables securitization facility . ( see further discussion of our receivables securitization facility in note 10 ) . 15 . variable interest entities we have entered into various lease transactions in which the structure of the leases contain variable interest entities ( vies ) . these vies were created solely for the purpose of doing lease transactions ( principally involving railroad equipment and facilities , including our headquarters building ) and have no other activities , assets or liabilities outside of the lease transactions . within these lease arrangements , we have the right to purchase some or all of the assets at fixed prices . depending on market conditions , fixed-price purchase options available in the leases could potentially provide benefits to us ; however , these benefits are not expected to be significant . we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry . as such , we have no control over activities that could materially impact the fair value of the leased assets . we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies . additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase price options are not considered to be potentially significant to the vies . the future minimum lease payments associated with the vie leases totaled $ 3.3 billion as of december 31 , 2013 . 16 . leases we lease certain locomotives , freight cars , and other property . the consolidated statements of financial position as of december 31 , 2013 and 2012 included $ 2486 million , net of $ 1092 million of accumulated depreciation , and $ 2467 million , net of $ 966 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2013 , were as follows : millions operating leases capital leases .
|millions|operatingleases|capitalleases|
|2014|$ 512|$ 272|
|2015|477|260|
|2016|438|239|
|2017|400|247|
|2018|332|225|
|later years|1907|957|
|total minimum leasepayments|$ 4066|$ 2200|
|amount representing interest|n/a|-498 ( 498 )|
|present value of minimum leasepayments|n/a|$ 1702|
approximately 94% ( 94 % ) of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 618 million in 2013 , $ 631 million in 2012 , and $ 637 million in 2011 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant. .
Question: as of december 31 , 2013 what was the percent of the total operating non-cancelable lease terms in excess of one year due in 2015
Answer: | 0.11731 |
FINQA3149 | Please answer the given financial question based on the context.
Context: performance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 28 , 2007 through october 28 , 2012 . this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period . the comparison assumes $ 100 was invested on october 28 , 2007 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any . dollar amounts in the graph are rounded to the nearest whole dollar . the performance shown in the graph represents past performance and should not be considered an indication of future performance . comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index and the rdg semiconductor composite index * $ 100 invested on 10/28/07 in stock or 10/31/07 in index , including reinvestment of dividends . indexes calculated on month-end basis . copyright a9 2012 s&p , a division of the mcgraw-hill companies inc . all rights reserved. .
||10/28/2007|10/26/2008|10/25/2009|10/31/2010|10/30/2011|10/28/2012|
|applied materials|100.00|61.22|71.06|69.23|72.37|62.92|
|s&p 500 index|100.00|63.90|70.17|81.76|88.37|101.81|
|rdg semiconductor composite index|100.00|54.74|68.59|84.46|91.33|82.37|
dividends during fiscal 2012 , applied 2019s board of directors declared three quarterly cash dividends in the amount of $ 0.09 per share each and one quarterly cash dividend in the amount of $ 0.08 per share . during fiscal 2011 , applied 2019s board of directors declared three quarterly cash dividends in the amount of $ 0.08 per share each and one quarterly cash dividend in the amount of $ 0.07 per share . during fiscal 2010 , applied 2019s board of directors declared three quarterly cash dividends in the amount of $ 0.07 per share each and one quarterly cash dividend in the amount of $ 0.06 . dividends declared during fiscal 2012 , 2011 and 2010 amounted to $ 438 million , $ 408 million and $ 361 million , respectively . applied currently anticipates that it will continue to pay cash dividends on a quarterly basis in the future , although the declaration and amount of any future cash dividends are at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination that cash dividends are in the best interests of applied 2019s stockholders . 10/28/07 10/26/08 10/25/09 10/31/10 10/30/11 10/28/12 applied materials , inc . s&p 500 rdg semiconductor composite .
Question: how much did the quarterly dividend yield change from 2010 to 2012 for applied materials?
Answer: | 0.00042 |
FINQA3150 | Please answer the given financial question based on the context.
Context: loss on the contract may be recorded , if necessary , and any remaining deferred implementation revenues would typically be recognized over the remaining service period through the termination date . in connection with our long-term outsourcing service agreements , highly customized implementation efforts are often necessary to set up clients and their human resource or benefit programs on our systems and operating processes . for outsourcing services sold separately or accounted for as a separate unit of accounting , specific , incremental and direct costs of implementation incurred prior to the services commencing are generally deferred and amortized over the period that the related ongoing services revenue is recognized . deferred costs are assessed for recoverability on a periodic basis to the extent the deferred cost exceeds related deferred revenue . 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. , netherlands 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. , netherlands and canadian plans to the extent statutorily permitted . in 2016 , we estimate pension and post-retirement net periodic benefit cost for major plans to increase by $ 15 million to a benefit of approximately $ 54 million . the increase in the benefit is primarily due to a change in our approach to measuring service and interest cost . effective december 31 , 2015 and for 2016 expense , we have elected to utilize a full yield curve approach in the estimation of the service and interest cost components of net periodic pension and post-retirement benefit cost for our major pension and other post-retirement benefit plans by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows . in 2015 and prior years , we estimated these components of net periodic pension and post-retirement benefit cost by applying a single weighted-average discount rate , derived from the yield curve used to measure the benefit obligation at the beginning of the period . we have made this change to improve the correlation between projected benefit cash flows and the corresponding yield curve spot rates and to provide a more precise measurement of service and interest costs . this change does not affect the measurement of the projected benefit obligation as the change in the service cost and interest cost is completely offset in the actuarial ( gain ) loss recorded in other comprehensive income . we accounted for this change as a change in estimate and , accordingly , will account for it prospectively . 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 life expectancy of the u.s. , the netherlands , canada , and u.k . plan members . 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 , 2015 , 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 unrecognized actuarial gains and losses , the number of years over which we are amortizing the experience loss , and the estimated 2016 amortization of loss by country ( amounts in millions ) : .
||u.k .|u.s .|other|
|unrecognized actuarial gains and losses|$ 1511|$ 1732|$ 382|
|amortization period ( in years )|10 - 32|7 - 28|15 - 41|
|estimated 2016 amortization of loss|$ 37|$ 52|$ 10|
the unrecognized prior service cost ( income ) at december 31 , 2015 was $ 9 million , $ 46 million , and $ ( 7 ) million in the u.s. , u.k . and other plans , respectively . 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 .
Question: what is the total estimated amortization loss for 2016?
Answer: | 99.0 |
FINQA3151 | Please answer the given financial question based on the context.
Context: the pnc financial services group , inc . 2013 form 10-k 29 part ii item 5 2013 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities ( a ) ( 1 ) our common stock is listed on the new york stock exchange and is traded under the symbol 201cpnc . 201d at the close of business on february 15 , 2019 , there were 53986 common shareholders of record . holders of pnc common stock are entitled to receive dividends when declared by our board of directors out of funds legally available for this purpose . our board of directors may not pay or set apart dividends on the common stock until dividends for all past dividend periods on any series of outstanding preferred stock and certain outstanding capital securities issued by the parent company have been paid or declared and set apart for payment . the board of directors presently intends to continue the policy of paying quarterly cash dividends . the amount of any future dividends will depend on economic and market conditions , our financial condition and operating results , and other factors , including contractual restrictions and applicable government regulations and policies ( such as those relating to the ability of bank and non-bank subsidiaries to pay dividends to the parent company and regulatory capital limitations ) . the amount of our dividend is also currently subject to the results of the supervisory assessment of capital adequacy and capital planning processes undertaken by the federal reserve and our primary bank regulators as part of the comprehensive capital analysis and review ( ccar ) process as described in the supervision and regulation section in item 1 of this report . the federal reserve has the power to prohibit us from paying dividends without its approval . for further information concerning dividend restrictions and other factors that could limit our ability to pay dividends , as well as restrictions on loans , dividends or advances from bank subsidiaries to the parent company , see the supervision and regulation section in item 1 , item 1a risk factors , the liquidity and capital management portion of the risk management section in item 7 , and note 10 borrowed funds , note 15 equity and note 18 regulatory matters in the notes to consolidated financial statements in item 8 of this report , which we include here by reference . we include here by reference the information regarding our compensation plans under which pnc equity securities are authorized for issuance as of december 31 , 2018 in the table ( with introductory paragraph and notes ) in item 12 of this report . our stock transfer agent and registrar is : computershare trust company , n.a . 250 royall street canton , ma 02021 800-982-7652 www.computershare.com/pnc registered shareholders may contact computershare regarding dividends and other shareholder services . we include here by reference the information that appears under the common stock performance graph caption at the end of this item 5 . ( a ) ( 2 ) none . ( b ) not applicable . ( c ) details of our repurchases of pnc common stock during the fourth quarter of 2018 are included in the following table : in thousands , except per share data 2018 period total shares purchased ( a ) average price paid per share total shares purchased as part of publicly announced programs ( b ) maximum number of shares that may yet be purchased under the programs ( b ) .
|2018 period|total shares purchased ( a )|average price paid per share|total shares purchased as part of publicly announced programs ( b )|maximum number of shares that may yet be purchased under the programs ( b )|
|october 1 2013 31|1204|$ 128.43|1189|25663|
|november 1 2013 30|1491|$ 133.79|1491|24172|
|december 1 2013 31|3458|$ 119.43|3458|20714|
|total|6153|$ 124.67|||
( a ) includes pnc common stock purchased in connection with our various employee benefit plans generally related to forfeitures of unvested restricted stock awards and shares used to cover employee payroll tax withholding requirements . note 11 employee benefit plans and note 12 stock based compensation plans in the notes to consolidated financial statements in item 8 of this report include additional information regarding our employee benefit and equity compensation plans that use pnc common stock . ( b ) on march 11 , 2015 , we announced that our board of directors approved a stock repurchase program authorization in the amount of 100 million shares of pnc common stock , effective april 1 , 2015 . repurchases are made in open market or privately negotiated transactions and the timing and exact amount of common stock repurchases will depend on a number of factors including , among others , market and general economic conditions , regulatory capital considerations , alternative uses of capital , the potential impact on our credit ratings , and contractual and regulatory limitations , including the results of the supervisory assessment of capital adequacy and capital planning processes undertaken by the federal reserve as part of the ccar process . in june 2018 , we announced share repurchase programs of up to $ 2.0 billion for the four quarter period beginning with the third quarter of 2018 , including repurchases of up to $ 300 million related to stock issuances under employee benefit plans , in accordance with pnc's 2018 capital plan . in november 2018 , we announced an increase to these previously announced programs in the amount of up to $ 900 million in additional common share repurchases . the aggregate repurchase price of shares repurchased during the fourth quarter of 2018 was $ .8 billion . see the liquidity and capital management portion of the risk management section in item 7 of this report for more information on the authorized share repurchase programs for the period july 1 , 2018 through june 30 , 2019 . http://www.computershare.com/pnc .
Question: in october , 2018 , what was the total amount spent on purchased shares?
Answer: | 154629.72 |
FINQA3152 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis as of december 2017 , total staff increased 6% ( 6 % ) compared with december 2016 , reflecting investments in technology and marcus , and support of our regulatory efforts . 2016 versus 2015 . operating expenses in the consolidated statements of earnings were $ 20.30 billion for 2016 , 19% ( 19 % ) lower than 2015 . compensation and benefits expenses in the consolidated statements of earnings were $ 11.65 billion for 2016 , 8% ( 8 % ) lower than 2015 , reflecting a decrease in net revenues and the impact of expense savings initiatives . the ratio of compensation and benefits to net revenues for 2016 was 38.1% ( 38.1 % ) compared with 37.5% ( 37.5 % ) for 2015 . non-compensation expenses in the consolidated statements of earnings were $ 8.66 billion for 2016 , 30% ( 30 % ) lower than 2015 , primarily due to significantly lower net provisions for mortgage-related litigation and regulatory matters , which are included in other expenses . in addition , market development expenses and professional fees were lower compared with 2015 , reflecting expense savings initiatives . net provisions for litigation and regulatory proceedings for 2016 were $ 396 million compared with $ 4.01 billion for 2015 ( 2015 primarily related to net provisions for mortgage-related matters ) . 2016 included a $ 114 million charitable contribution to goldman sachs gives . compensation was reduced to fund this charitable contribution to goldman sachs gives . we ask our participating managing directors to make recommendations regarding potential charitable recipients for this contribution . as of december 2016 , total staff decreased 7% ( 7 % ) compared with december 2015 , due to expense savings initiatives . provision for taxes the effective income tax rate for 2017 was 61.5% ( 61.5 % ) , up from 28.2% ( 28.2 % ) for 2016 . the increase compared with 2016 reflected the estimated impact of tax legislation , which was enacted on december 22 , 2017 and , among other things , lowers u.s . corporate income tax rates as of january 1 , 2018 , implements a territorial tax system and imposes a repatriation tax on deemed repatriated earnings of foreign subsidiaries . the estimated impact of tax legislation was an increase in income tax expense of $ 4.40 billion , of which $ 3.32 billion was due to the repatriation tax and $ 1.08 billion was due to the effects of the implementation of the territorial tax system and the remeasurement of u.s . deferred tax assets at lower enacted corporate tax rates . the impact of tax legislation may differ from this estimate , possibly materially , due to , among other things , ( i ) refinement of our calculations based on updated information , ( ii ) changes in interpretations and assumptions , ( iii ) guidance that may be issued and ( iv ) actions we may take as a result of tax legislation . excluding the estimated impact of tax legislation , the effective income tax rate for 2017 was 22.0% ( 22.0 % ) , down from 28.2% ( 28.2 % ) for 2016 . this decrease was primarily due to tax benefits on the settlement of employee share-based awards in accordance with asu no . 2016-09 . the impact of these settlements in 2017 was a reduction to our provision for taxes of $ 719 million and a reduction in our effective income tax rate of 6.4 percentage points . see note 3 to the consolidated financial statements for further information about this asu . the effective income tax rate , excluding the estimated impact of tax legislation , is a non-gaap measure and may not be comparable to similar non-gaap measures used by other companies . we believe that presenting our effective income tax rate , excluding the estimated impact of tax legislation is meaningful , as excluding this item increases the comparability of period-to-period results . the table below presents the calculation of the effective income tax rate , excluding the estimated impact of tax legislation. .
|$ in millions|year ended december 2017 pre-tax earnings|year ended december 2017 provision for taxes|year ended december 2017 effective income tax rate|
|as reported|$ 11132|$ 6846|61.5% ( 61.5 % )|
|estimated impact of tax legislation|2013|4400|2013|
|excluding the estimated impact of taxlegislation|$ 11132|$ 2446|22.0% ( 22.0 % )|
excluding the estimated impact of tax legislation $ 11132 $ 2446 22.0% ( 22.0 % ) the effective income tax rate for 2016 was 28.2% ( 28.2 % ) , down from 30.7% ( 30.7 % ) for 2015 . the decline compared with 2015 was primarily due to the impact of non-deductible provisions for mortgage-related litigation and regulatory matters in 2015 , partially offset by the impact of changes in tax law on deferred tax assets , the mix of earnings and an increase related to higher enacted tax rates impacting certain of our u.k . subsidiaries in 2016 . effective january 1 , 2018 , tax legislation reduced the u.s . corporate tax rate to 21 percent , eliminated tax deductions for certain expenses and enacted two new taxes , base erosion and anti-abuse tax ( beat ) and global intangible low taxed income ( gilti ) . beat is an alternative minimum tax that applies to banks that pay more than 2 percent of total deductible expenses to certain foreign subsidiaries . gilti is a 10.5 percent tax , before allowable credits for foreign taxes paid , on the annual earnings and profits of certain foreign subsidiaries . based on our current understanding of these rules , the impact of beat and gilti is not expected to be material to our effective income tax rate . goldman sachs 2017 form 10-k 55 .
Question: for 2017 , the estimated impact of tax legislation was what percent of the total as reported income tax provisions?
Answer: | 0.64271 |
FINQA3153 | Please answer the given financial question based on the context.
Context: application of specific accounting literature . for the nonconsolidated proprietary tob trusts and qspe tob trusts , the company recognizes only its residual investment on its balance sheet at fair value and the third-party financing raised by the trusts is off-balance sheet . the following table summarizes selected cash flow information related to municipal bond securitizations for the years 2008 , 2007 and 2006 : in billions of dollars 2008 2007 2006 .
|in billions of dollars|2008|2007|2006|
|proceeds from new securitizations|$ 1.2|$ 10.5|2014|
|cash flows received on retained interests and other net cash flows|0.5|2014|2014|
cash flows received on retained interests and other net cash flows 0.5 2014 2014 municipal investments municipal investment transactions represent partnerships that finance the construction and rehabilitation of low-income affordable rental housing . the company generally invests in these partnerships as a limited partner and earns a return primarily through the receipt of tax credits earned from the affordable housing investments made by the partnership . client intermediation client intermediation transactions represent a range of transactions designed to provide investors with specified returns based on the returns of an underlying security , referenced asset or index . these transactions include credit-linked notes and equity-linked notes . in these transactions , the spe typically obtains exposure to the underlying security , referenced asset or index through a derivative instrument , such as a total-return swap or a credit-default swap . in turn the spe issues notes to investors that pay a return based on the specified underlying security , referenced asset or index . the spe invests the proceeds in a financial asset or a guaranteed insurance contract ( gic ) that serves as collateral for the derivative contract over the term of the transaction . the company 2019s involvement in these transactions includes being the counterparty to the spe 2019s derivative instruments and investing in a portion of the notes issued by the spe . in certain transactions , the investor 2019s maximum risk of loss is limited and the company absorbs risk of loss above a specified level . the company 2019s maximum risk of loss in these transactions is defined as the amount invested in notes issued by the spe and the notional amount of any risk of loss absorbed by the company through a separate instrument issued by the spe . the derivative instrument held by the company may generate a receivable from the spe ( for example , where the company purchases credit protection from the spe in connection with the spe 2019s issuance of a credit-linked note ) , which is collateralized by the assets owned by the spe . these derivative instruments are not considered variable interests under fin 46 ( r ) and any associated receivables are not included in the calculation of maximum exposure to the spe . structured investment vehicles structured investment vehicles ( sivs ) are spes that issue junior notes and senior debt ( medium-term notes and short-term commercial paper ) to fund the purchase of high quality assets . the junior notes are subject to the 201cfirst loss 201d risk of the sivs . the sivs provide a variable return to the junior note investors based on the net spread between the cost to issue the senior debt and the return realized by the high quality assets . the company acts as manager for the sivs and , prior to december 13 , 2007 , was not contractually obligated to provide liquidity facilities or guarantees to the sivs . in response to the ratings review of the outstanding senior debt of the sivs for a possible downgrade announced by two ratings agencies and the continued reduction of liquidity in the siv-related asset-backed commercial paper and medium-term note markets , on december 13 , 2007 , citigroup announced its commitment to provide support facilities that would support the sivs 2019 senior debt ratings . as a result of this commitment , citigroup became the sivs 2019 primary beneficiary and began consolidating these entities . on february 12 , 2008 , citigroup finalized the terms of the support facilities , which took the form of a commitment to provide $ 3.5 billion of mezzanine capital to the sivs in the event the market value of their junior notes approaches zero . the mezzanine capital facility was increased by $ 1 billion to $ 4.5 billion , with the additional commitment funded during the fourth quarter of 2008 . the facilities rank senior to the junior notes but junior to the commercial paper and medium-term notes . the facilities were at arm 2019s-length terms . interest was paid on the drawn amount of the facilities and a per annum fee was paid on the unused portion . during the period to november 18 , 2008 , the company wrote down $ 3.3 billion on siv assets . in order to complete the wind-down of the sivs , the company , in a nearly cashless transaction , purchased the remaining assets of the sivs at fair value , with a trade date of november 18 , 2008 . the company funded the purchase of the siv assets by assuming the obligation to pay amounts due under the medium-term notes issued by the sivs , as the medium-term notes mature . the net funding provided by the company to fund the purchase of the siv assets was $ 0.3 billion . as of december 31 , 2008 , the carrying amount of the purchased siv assets was $ 16.6 billion , of which $ 16.5 billion is classified as htm assets . investment funds the company is the investment manager for certain investment funds that invest in various asset classes including private equity , hedge funds , real estate , fixed income and infrastructure . the company earns a management fee , which is a percentage of capital under management , and may earn performance fees . in addition , for some of these funds the company has an ownership interest in the investment funds . the company has also established a number of investment funds as opportunities for qualified employees to invest in private equity investments . the company acts as investment manager to these funds and may provide employees with financing on both a recourse and non-recourse basis for a portion of the employees 2019 investment commitments. .
Question: in 2008 what was the percentage increased in the mezzanine capital facility
Answer: | 0.28571 |
FINQA3154 | Please answer the given financial question based on the context.
Context: supplementary information on oil and gas producing activities ( unaudited ) 2018 proved reserves decreased by 168 mmboe primarily due to the following : 2022 revisions of previous estimates : increased by 84 mmboe including an increase of 108 mmboe associated with the acceleration of higher economic wells in the u.s . resource plays into the 5-year plan and an increase of 15 mmboe associated with wells to sales that were additions to the plan , partially offset by a decrease of 39 mmboe due to technical revisions across the business . 2022 extensions , discoveries , and other additions : increased by 102 mmboe primarily in the u.s . resource plays due to an increase of 69 mmboe associated with the expansion of proved areas and an increase of 33 mmboe associated with wells to sales from unproved categories . 2022 production : decreased by 153 mmboe . 2022 sales of reserves in place : decreased by 201 mmboe including 196 mmboe associated with the sale of our subsidiary in libya , 4 mmboe associated with divestitures of certain conventional assets in new mexico and michigan , and 1 mmboe associated with the sale of the sarsang block in kurdistan . 2017 proved reserves decreased by 647 mmboe primarily due to the following : 2022 revisions of previous estimates : increased by 49 mmboe primarily due to the acceleration of higher economic wells in the bakken into the 5-year plan resulting in an increase of 44 mmboe , with the remainder being due to revisions across the business . 2022 extensions , discoveries , and other additions : increased by 116 mmboe primarily due to an increase of 97 mmboe associated with the expansion of proved areas and wells to sales from unproved categories in oklahoma . 2022 purchases of reserves in place : increased by 28 mmboe from acquisitions of assets in the northern delaware basin in new mexico . 2022 production : decreased by 145 mmboe . 2022 sales of reserves in place : decreased by 695 mmboe including 685 mmboe associated with the sale of our canadian business and 10 mmboe associated with divestitures of certain conventional assets in oklahoma and colorado . see item 8 . financial statements and supplementary data - note 5 to the consolidated financial statements for information regarding these dispositions . 2016 proved reserves decreased by 67 mmboe primarily due to the following : 2022 revisions of previous estimates : increased by 63 mmboe primarily due to an increase of 151 mmboe associated with the acceleration of higher economic wells in the u.s . resource plays into the 5-year plan and a decrease of 64 mmboe due to u.s . technical revisions . 2022 extensions , discoveries , and other additions : increased by 60 mmboe primarily associated with the expansion of proved areas and new wells to sales from unproven categories in oklahoma . 2022 purchases of reserves in place : increased by 34 mmboe from acquisition of stack assets in oklahoma . 2022 production : decreased by 144 mmboe . 2022 sales of reserves in place : decreased by 84 mmboe associated with the divestitures of certain wyoming and gulf of mexico assets . changes in proved undeveloped reserves as of december 31 , 2018 , 529 mmboe of proved undeveloped reserves were reported , a decrease of 17 mmboe from december 31 , 2017 . the following table shows changes in proved undeveloped reserves for 2018 : ( mmboe ) .
|beginning of year|546|
|revisions of previous estimates|47|
|extensions discoveries and other additions|61|
|dispositions|-19 ( 19 )|
|transfers to proved developed|-106 ( 106 )|
|end of year|529|
.
Question: what percentage decrease of proved undeveloped reserves occurred during 2018?
Answer: | 0.03114 |
FINQA3155 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements ( continued ) note 1 2014summary of significant accounting policies ( continued ) present value is accreted over the life of the related lease as an operating expense . all of the company 2019s existing asset retirement obligations are associated with commitments to return property subject to operating leases to original condition upon lease termination . the following table reconciles changes in the company 2019s asset retirement liabilities for fiscal 2006 and 2005 ( in millions ) : .
|asset retirement liability as of september 25 2004|$ 8.2|
|additional asset retirement obligations recognized|2.8|
|accretion recognized|0.7|
|asset retirement liability as of september 24 2005|$ 11.7|
|additional asset retirement obligations recognized|2.5|
|accretion recognized|0.5|
|asset retirement liability as of september 30 2006|$ 14.7|
long-lived assets including goodwill and other acquired intangible assets the company reviews property , plant , and equipment and certain identifiable intangibles , excluding goodwill , for impairment in accordance with sfas no . 144 , accounting for the impairment of long-lived assets and for long-lived assets to be disposed of . long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable . recoverability of these assets is measured by comparison of its carrying amount to future undiscounted cash flows the assets are expected to generate . if property , plant , and equipment and certain identifiable intangibles are considered to be impaired , the impairment to be recognized equals the amount by which the carrying value of the assets exceeds its fair market value . for the three fiscal years ended september 30 , 2006 , the company had no material impairment of its long-lived assets , except for the impairment of certain assets in connection with the restructuring actions described in note 6 of these notes to consolidated financial statements . sfas no . 142 , goodwill and other intangible assets requires that goodwill and intangible assets with indefinite useful lives should not be amortized but rather be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that they may be impaired . the company performs its goodwill impairment tests on or about august 30 of each year . the company did not recognize any goodwill or intangible asset impairment charges in 2006 , 2005 , or 2004 . the company established reporting units based on its current reporting structure . for purposes of testing goodwill for impairment , goodwill has been allocated to these reporting units to the extent it relates to each reporting sfas no . 142 also requires that intangible assets with definite lives be amortized over their estimated useful lives and reviewed for impairment in accordance with sfas no . 144 . the company is currently amortizing its acquired intangible assets with definite lives over periods ranging from 3 to 10 years . foreign currency translation the company translates the assets and liabilities of its international non-u.s . functional currency subsidiaries into u.s . dollars using exchange rates in effect at the end of each period . revenue and expenses for these subsidiaries are translated using rates that approximate those in effect during the period . gains and losses from these translations are credited or charged to foreign currency translation .
Question: what was the net change in millions in asset retirement liability between september 24 2005 and september 30 2006?
Answer: | 3.0 |
FINQA3156 | Please answer the given financial question based on the context.
Context: entergy arkansas , inc . management's financial discussion and analysis fuel and purchased power expenses increased primarily due to increased recovery of deferred fuel and purchased power costs primarily due to an increase in april 2004 in the energy cost recovery rider and the true-ups to the 2003 and 2002 energy cost recovery rider filings . other regulatory credits decreased primarily due to the over-recovery of grand gulf costs due to an increase in the grand gulf rider effective january 2004 . 2003 compared to 2002 net revenue , which is entergy arkansas' measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits . following is an analysis of the change in net revenue comparing 2003 to 2002. .
||( in millions )|
|2002 net revenue|$ 1095.9|
|march 2002 settlement agreement|-154.0 ( 154.0 )|
|volume/weather|-7.7 ( 7.7 )|
|asset retirement obligation|30.1|
|net wholesale revenue|16.6|
|deferred fuel cost revisions|10.2|
|other|7.6|
|2003 net revenue|$ 998.7|
the march 2002 settlement agreement resolved a request for recovery of ice storm costs incurred in december 2000 with an offset of those costs for funds contributed to pay for future stranded costs . a 1997 settlement provided for the collection of earnings in excess of an 11% ( 11 % ) return on equity in a transition cost account ( tca ) to offset stranded costs if retail open access were implemented . in mid- and late december 2000 , two separate ice storms left 226000 and 212500 entergy arkansas customers , respectively , without electric power in its service area . entergy arkansas filed a proposal to recover costs plus carrying charges associated with power restoration caused by the ice storms . entergy arkansas' final storm damage cost determination reflected costs of approximately $ 195 million . the apsc approved a settlement agreement submitted in march 2002 by entergy arkansas , the apsc staff , and the arkansas attorney general . in the march 2002 settlement , the parties agreed that $ 153 million of the ice storm costs would be classified as incremental ice storm expenses that can be offset against the tca on a rate class basis , and any excess of ice storm costs over the amount available in the tca would be deferred and amortized over 30 years , although such excess costs were not allowed to be included as a separate component of rate base . the allocated ice storm expenses exceeded the available tca funds by $ 15.8 million which was recorded as a regulatory asset in june 2002 . in accordance with the settlement agreement and following the apsc's approval of the 2001 earnings review related to the tca , entergy arkansas filed to return $ 18.1 million of the tca to certain large general service class customers that paid more into the tca than their allocation of storm costs . the apsc approved the return of funds to the large general service customer class in the form of refund checks in august 2002 . as part of the implementation of the march 2002 settlement agreement provisions , the tca procedure ceased with the 2001 earnings evaluation . of the remaining ice storm costs , $ 32.2 million was addressed through established ratemaking procedures , including $ 22.2 million classified as capital additions , while $ 3.8 million of the ice storm costs was not recovered through rates . the effect on net income of the march 2002 settlement agreement and 2001 earnings review was a $ 2.2 million increase in 2003 , because the decrease in net revenue was offset by the decrease in operation and maintenance expenses discussed below. .
Question: what is the percent change in net revenue from 2002 to 2003?
Answer: | 0.09733 |
FINQA3157 | Please answer the given financial question based on the context.
Context: item 2 : properties information concerning applied 2019s properties is set forth below: .
|( square feet in thousands )|united states|other countries|total|
|owned|4530|2417|6947|
|leased|1037|1341|2378|
|total|5567|3758|9325|
because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country . the company 2019s headquarters offices are in santa clara , california . products in semiconductor systems are manufactured in santa clara , california ; austin , texas ; gloucester , massachusetts ; kalispell , montana ; rehovot , israel ; and singapore . remanufactured equipment products in the applied global services segment are produced primarily in austin , texas . products in the display and adjacent markets segment are manufactured in alzenau , germany and tainan , taiwan . other products are manufactured in treviso , italy . applied also owns and leases offices , plants and warehouse locations in many locations throughout the world , including in europe , japan , north america ( principally the united states ) , israel , china , india , korea , southeast asia and taiwan . these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and customer support . applied also owns a total of approximately 269 acres of buildable land in montana , texas , california , israel and italy that could accommodate additional building space . applied considers the properties that it owns or leases as adequate to meet its current and future requirements . applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
Question: what percentage of buildings are owned in the united states by the company?
Answer: | 0.81372 |
FINQA3158 | Please answer the given financial question based on the context.
Context: item 12 . security ownership of certain beneficial owners and management and related stockholder matters information as to the number of shares of our equity securities beneficially owned by each of our directors and nominees for director , our named executive officers , our directors and executive officers as a group , and certain beneficial owners is set forth in the security ownership of certain beneficial owners and management segment of the proxy statement and is incorporated herein by reference . the following table summarizes the equity compensation plans under which union pacific corporation common stock may be issued as of december 31 , 2008 . 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 ) ) plan category ( a ) ( b ) ( c ) equity compensation plans approved by security holders 13477830 [1] $ 40.81 [2] 36961123 .
|plan category|number of securitiesto be issued uponexercise ofoutstanding optionswarrantsand rights ( a )|weighted-averageexercise price ofoutstanding optionswarrants and rights ( b )|number ofsecuritiesremaining available forfuture issuance underequity compensationplans ( excludingsecurities reflected incolumn ( a ) ) ( c )|
|equity compensation plans approved by security holders|13477830 [1]|$ 40.81 [2]|36961123|
|total|13477830|$ 40.81|36961123|
[1] includes 1494925 retention units that do not have an exercise price . does not include 1419554 retention shares that are actually issued and outstanding . [2] does not include the retention units or retention shares described above in footnote [1] . item 13 . certain relationships and related transactions and director independence information on related transactions is set forth in the certain relationships and related transactions and compensation committee interlocks and insider participation segments of the proxy statement and is incorporated herein by reference . we do not have any relationship with any outside third party that would enable such a party to negotiate terms of a material transaction that may not be available to , or available from , other parties on an arm 2019s-length basis . information regarding the independence of our directors is set forth in the director independence segment of the proxy statement and is incorporated herein by reference . item 14 . principal accountant fees and services information concerning the fees billed by our independent registered public accounting firm and the nature of services comprising the fees for each of the two most recent fiscal years in each of the following categories : ( i ) audit fees , ( ii ) audit-related fees , ( iii ) tax fees , and ( iv ) all other fees , is set forth in the independent registered public accounting firm 2019s fees and services segment of the proxy statement and is incorporated herein by reference . information concerning our audit committee 2019s policies and procedures pertaining to pre-approval of audit and non-audit services rendered by our independent registered public accounting firm is set forth in the audit committee segment of the proxy statement and is incorporated herein by reference. .
Question: as of december 31 , 2008 what was the percent of the number of securities to be issued upon exercise of outstanding options warrants and rights that did not have an exercise price
Answer: | 0.11092 |
FINQA3159 | Please answer the given financial question based on the context.
Context: 492010 annual report consolidation 2013 effective february 28 , 2010 , the company adopted the fasb amended guidance for con- solidation . this guidance clarifies that the scope of the decrease in ownership provisions applies to the follow- ing : ( i ) a subsidiary or group of assets that is a business or nonprofit activity ; ( ii ) a subsidiary that is a business or nonprofit activity that is transferred to an equity method investee or joint venture ; and ( iii ) an exchange of a group of assets that constitutes a business or nonprofit activ- ity for a noncontrolling interest in an entity ( including an equity method investee or joint venture ) . this guidance also expands the disclosures about the deconsolidation of a subsidiary or derecognition of a group of assets within the scope of the guidance . the adoption of this guidance did not have a material impact on the company 2019s consolidated financial statements . 3 . acquisitions : acquisition of bwe 2013 on december 17 , 2007 , the company acquired all of the issued and outstanding capital stock of beam wine estates , inc . ( 201cbwe 201d ) , an indirect wholly-owned subsidiary of fortune brands , inc. , together with bwe 2019s subsidiaries : atlas peak vineyards , inc. , buena vista winery , inc. , clos du bois , inc. , gary farrell wines , inc . and peak wines international , inc . ( the 201cbwe acquisition 201d ) . as a result of the bwe acquisition , the company acquired the u.s . wine portfolio of fortune brands , inc. , including certain wineries , vineyards or inter- ests therein in the state of california , as well as various super-premium and fine california wine brands including clos du bois and wild horse . the bwe acquisition sup- ports the company 2019s strategy of strengthening its portfolio with fast-growing super-premium and above wines . the bwe acquisition strengthens the company 2019s position as the leading wine company in the world and the leading premium wine company in the u.s . total consideration paid in cash was $ 877.3 million . in addition , the company incurred direct acquisition costs of $ 1.4 million . the purchase price was financed with the net proceeds from the company 2019s december 2007 senior notes ( as defined in note 11 ) and revolver borrowings under the company 2019s june 2006 credit agreement , as amended in february 2007 and november 2007 ( as defined in note 11 ) . in accordance with the purchase method of accounting , the acquired net assets are recorded at fair value at the date of acquisition . the purchase price was based primarily on the estimated future operating results of the bwe business , including the factors described above . in june 2008 , the company sold certain businesses consisting of several of the california wineries and wine brands acquired in the bwe acquisition , as well as certain wineries and wine brands from the states of washington and idaho ( collectively , the 201cpacific northwest business 201d ) ( see note 7 ) . the results of operations of the bwe business are reported in the constellation wines segment and are included in the consolidated results of operations of the company from the date of acquisition . the following table summarizes the fair values of the assets acquired and liabilities assumed in the bwe acquisition at the date of acquisition . ( in millions ) current assets $ 288.4 property , plant and equipment 232.8 .
|current assets|$ 288.4|
|property plant and equipment|232.8|
|goodwill|334.6|
|trademarks|97.9|
|other assets|30.2|
|total assets acquired|983.9|
|current liabilities|103.9|
|long-term liabilities|1.3|
|total liabilities assumed|105.2|
|net assets acquired|$ 878.7|
other assets 30.2 total assets acquired 983.9 current liabilities 103.9 long-term liabilities 1.3 total liabilities assumed 105.2 net assets acquired $ 878.7 the trademarks are not subject to amortization . all of the goodwill is expected to be deductible for tax purposes . acquisition of svedka 2013 on march 19 , 2007 , the company acquired the svedka vodka brand ( 201csvedka 201d ) in connection with the acquisition of spirits marque one llc and related business ( the 201csvedka acquisition 201d ) . svedka is a premium swedish vodka . at the time of the acquisition , the svedka acquisition supported the company 2019s strategy of expanding the company 2019s premium spirits business and provided a foundation from which the company looked to leverage its existing and future premium spirits portfolio for growth . in addition , svedka complemented the company 2019s then existing portfolio of super-premium and value vodka brands by adding a premium vodka brand . total consideration paid in cash for the svedka acquisition was $ 385.8 million . in addition , the company incurred direct acquisition costs of $ 1.3 million . the pur- chase price was financed with revolver borrowings under the company 2019s june 2006 credit agreement , as amended in february 2007 . in accordance with the purchase method of accounting , the acquired net assets are recorded at fair value at the date of acquisition . the purchase price was based primarily on the estimated future operating results of the svedka business , including the factors described above . the results of operations of the svedka business are reported in the constellation wines segment and are included in the consolidated results of operations of the company from the date of acquisition. .
Question: what is the current ratio for bwe at the time of the acquisition?
Answer: | 2.77575 |
FINQA3160 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) stock-based compensation 2014the company complies with the provisions of sfas no . 148 , 201caccounting for stock-based compensation 2014transition and disclosure 2014an amendment of sfas no . 123 , 201d which provides optional transition guidance for those companies electing to voluntarily adopt the accounting provisions of sfas no . 123 . the company continues to use accounting principles board opinion no . 25 ( apb no . 25 ) , 201caccounting for stock issued to employees , 201d to account for equity grants and awards to employees , officers and directors and has adopted the disclosure-only provisions of sfas no . 148 . in accordance with apb no . 25 , the company recognizes compensation expense based on the excess , if any , of the quoted stock price at the grant date of the award or other measurement date over the amount an employee must pay to acquire the stock . the company 2019s stock option plans are more fully described in note 13 . in december 2004 , the fasb issued sfas no . 123r , 201cshare-based payment 201d ( sfas no . 123r ) , described below . the following table illustrates the effect on net loss and net loss per share if the company had applied the fair value recognition provisions of sfas no . 123 ( as amended ) to stock-based compensation . the estimated fair value of each option is calculated using the black-scholes option-pricing model ( in thousands , except per share amounts ) : .
||2004|2003|2002|
|net loss as reported|$ -247587 ( 247587 )|$ -325321 ( 325321 )|$ -1163540 ( 1163540 )|
|add : stock-based employee compensation expense associated with modifications net of related tax effect included in net loss asreported|2297|2077||
|less : total stock-based employee compensation expense determined under fair value based method for all awards net of related taxeffect|-23906 ( 23906 )|-31156 ( 31156 )|-38126 ( 38126 )|
|pro-forma net loss|$ -269196 ( 269196 )|$ -354400 ( 354400 )|$ -1201666 ( 1201666 )|
|basic and diluted net loss per share 2014as reported|$ -1.10 ( 1.10 )|$ -1.56 ( 1.56 )|$ -5.95 ( 5.95 )|
|basic and diluted net loss per share pro-forma|$ -1.20 ( 1.20 )|$ -1.70 ( 1.70 )|$ -6.15 ( 6.15 )|
during the year ended december 31 , 2004 and 2003 , the company modified certain option awards to accelerate vesting and recorded charges of $ 3.0 million and $ 2.3 million , respectively , and corresponding increases to additional paid in capital in the accompanying consolidated financial statements . fair value of financial instruments 2014the carrying values of the company 2019s financial instruments , with the exception of long-term obligations , including current portion , reasonably approximate the related fair values as of december 31 , 2004 and 2003 . as of december 31 , 2004 , the carrying amount and fair value of long-term obligations , including current portion , were $ 3.3 billion and $ 3.6 billion , respectively . as of december 31 , 2003 , the carrying amount and fair value of long-term obligations , including current portion , were $ 3.4 billion and $ 3.6 billion , respectively . fair values are based primarily on quoted market prices for those or similar instruments . retirement plan 2014the company has a 401 ( k ) plan covering substantially all employees who meet certain age and employment requirements . under the plan , the company matching contribution for periods prior to june 30 , 2004 was 35% ( 35 % ) up to a maximum 5% ( 5 % ) of a participant 2019s contributions . effective july 1 , 2004 , the plan was amended to increase the company match to 50% ( 50 % ) up to a maximum 6% ( 6 % ) of a participant 2019s contributions . the company contributed approximately $ 533000 , $ 825000 and $ 979000 to the plan for the years ended december 31 , 2004 , 2003 and 2002 , respectively . recent accounting pronouncements 2014in december 2004 , the fasb issued sfas no . 123r , which is a revision of sfas no . 123 , 201caccounting for stock-based compensation , 201d and supersedes apb no . 25 , accounting for .
Question: what is the percentage change in 401 ( k ) contributed amounts from 2003 to 2004?
Answer: | -0.35394 |
FINQA3161 | Please answer the given financial question based on the context.
Context: stock performance graph the following graph provides a comparison of five year cumulative total stockholder returns of teleflex common stock , the standard & poor 2019s ( s&p ) 500 stock index and the s&p 500 healthcare equipment & supply index . the annual changes for the five-year period shown on the graph are based on the assumption that $ 100 had been invested in teleflex common stock and each index on december 31 , 2009 and that all dividends were reinvested . market performance .
|company / index|2009|2010|2011|2012|2013|2014|
|teleflex incorporated|100|102|119|142|190|235|
|s&p 500 index|100|115|117|136|180|205|
|s&p 500 healthcare equipment & supply index|100|97|97|113|144|182|
s&p 500 healthcare equipment & supply index 100 97 97 113 144 182 .
Question: what is the rate of return of an investment in teleflex incorporated from 2009 to 2010?
Answer: | 0.02 |
FINQA3162 | Please answer the given financial question based on the context.
Context: see note 10 goodwill and other intangible assets for further discussion of the accounting for goodwill and other intangible assets . the estimated amount of rbc bank ( usa ) revenue and net income ( excluding integration costs ) included in pnc 2019s consolidated income statement for 2012 was $ 1.0 billion and $ 273 million , respectively . upon closing and conversion of the rbc bank ( usa ) transaction , subsequent to march 2 , 2012 , separate records for rbc bank ( usa ) as a stand-alone business have not been maintained as the operations of rbc bank ( usa ) have been fully integrated into pnc . rbc bank ( usa ) revenue and earnings disclosed above reflect management 2019s best estimate , based on information available at the reporting date . the following table presents certain unaudited pro forma information for illustrative purposes only , for 2012 and 2011 as if rbc bank ( usa ) had been acquired on january 1 , 2011 . the unaudited estimated pro forma information combines the historical results of rbc bank ( usa ) with the company 2019s consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods . the pro forma information is not indicative of what would have occurred had the acquisition taken place on january 1 , 2011 . in particular , no adjustments have been made to eliminate the impact of other-than-temporary impairment losses and losses recognized on the sale of securities that may not have been necessary had the investment securities been recorded at fair value as of january 1 , 2011 . the unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value . additionally , the pro forma financial information does not include the impact of possible business model changes and does not reflect pro forma adjustments to conform accounting policies between rbc bank ( usa ) and pnc . additionally , pnc expects to achieve further operating cost savings and other business synergies , including revenue growth , as a result of the acquisition that are not reflected in the pro forma amounts that follow . as a result , actual results will differ from the unaudited pro forma information presented . table 57 : rbc bank ( usa ) and pnc unaudited pro forma results .
|in millions|for the year ended december 31 2012|for the year ended december 31 2011|
|total revenues|$ 15721|$ 15421|
|net income|2989|2911|
in connection with the rbc bank ( usa ) acquisition and other prior acquisitions , pnc recognized $ 267 million of integration charges in 2012 . pnc recognized $ 42 million of integration charges in 2011 in connection with prior acquisitions . the integration charges are included in the table above . sale of smartstreet effective october 26 , 2012 , pnc divested certain deposits and assets of the smartstreet business unit , which was acquired by pnc as part of the rbc bank ( usa ) acquisition , to union bank , n.a . smartstreet is a nationwide business focused on homeowner or community association managers and had approximately $ 1 billion of assets and deposits as of september 30 , 2012 . the gain on sale was immaterial and resulted in a reduction of goodwill and core deposit intangibles of $ 46 million and $ 13 million , respectively . results from operations of smartstreet from march 2 , 2012 through october 26 , 2012 are included in our consolidated income statement . flagstar branch acquisition effective december 9 , 2011 , pnc acquired 27 branches in the northern metropolitan atlanta , georgia area from flagstar bank , fsb , a subsidiary of flagstar bancorp , inc . the fair value of the assets acquired totaled approximately $ 211.8 million , including $ 169.3 million in cash , $ 24.3 million in fixed assets and $ 18.2 million of goodwill and intangible assets . we also assumed approximately $ 210.5 million of deposits associated with these branches . no deposit premium was paid and no loans were acquired in the transaction . our consolidated income statement includes the impact of the branch activity subsequent to our december 9 , 2011 acquisition . bankatlantic branch acquisition effective june 6 , 2011 , we acquired 19 branches in the greater tampa , florida area from bankatlantic , a subsidiary of bankatlantic bancorp , inc . the fair value of the assets acquired totaled $ 324.9 million , including $ 256.9 million in cash , $ 26.0 million in fixed assets and $ 42.0 million of goodwill and intangible assets . we also assumed approximately $ 324.5 million of deposits associated with these branches . a $ 39.0 million deposit premium was paid and no loans were acquired in the transaction . our consolidated income statement includes the impact of the branch activity subsequent to our june 6 , 2011 acquisition . sale of pnc global investment servicing on july 1 , 2010 , we sold pnc global investment servicing inc . ( gis ) , a leading provider of processing , technology and business intelligence services to asset managers , broker- dealers and financial advisors worldwide , for $ 2.3 billion in cash pursuant to a definitive agreement entered into on february 2 , 2010 . this transaction resulted in a pretax gain of $ 639 million , net of transaction costs , in the third quarter of 2010 . this gain and results of operations of gis through june 30 , 2010 are presented as income from discontinued operations , net of income taxes , on our consolidated income statement . as part of the sale agreement , pnc has agreed to provide certain transitional services on behalf of gis until completion of related systems conversion activities . 138 the pnc financial services group , inc . 2013 form 10-k .
Question: what was the profit margin in 2012
Answer: | 0.19013 |
FINQA3163 | Please answer the given financial question based on the context.
Context: while we have remediated the previously-identified material weakness in our internal control over financial reporting , we may identify other material weaknesses in the future . in november 2017 , we restated our consolidated financial statements for the quarters ended april 1 , 2017 and july 1 , 2017 in order to correctly classify cash receipts from the payments on sold receivables ( which are cash receipts on the underlying trade receivables that have already been securitized ) to cash provided by investing activities ( from cash provided by operating activities ) within our condensed consolidated statements of cash flows . in connection with these restatements , management identified a material weakness in our internal control over financial reporting related to the misapplication of accounting standards update 2016-15 . specifically , we did not maintain effective controls over the adoption of new accounting standards , including communication with the appropriate individuals in coming to our conclusions on the application of new accounting standards . as a result of this material weakness , our management concluded that we did not maintain effective internal control over financial reporting as of april 1 , 2017 and july 1 , 2017 . while we have remediated the material weakness and our management has determined that our disclosure controls and procedures were effective as of december 30 , 2017 , there can be no assurance that our controls will remain adequate . the effectiveness of our internal control over financial reporting is subject to various inherent limitations , including judgments used in decision-making , the nature and complexity of the transactions we undertake , assumptions about the likelihood of future events , the soundness of our systems , cost limitations , and other limitations . if other material weaknesses or significant deficiencies in our internal control are discovered or occur in the future or we otherwise must restate our financial statements , it could materially and adversely affect our business and results of operations or financial condition , restrict our ability to access the capital markets , require us to expend significant resources to correct the weaknesses or deficiencies , subject us to fines , penalties , investigations or judgments , harm our reputation , or otherwise cause a decline in investor confidence . item 1b . unresolved staff comments . item 2 . properties . our corporate co-headquarters are located in pittsburgh , pennsylvania and chicago , illinois . our co-headquarters are leased and house certain executive offices , our u.s . business units , and our administrative , finance , legal , and human resource functions . we maintain additional owned and leased offices throughout the regions in which we operate . we manufacture our products in our network of manufacturing and processing facilities located throughout the world . as of december 30 , 2017 , we operated 83 manufacturing and processing facilities . we own 80 and lease three of these facilities . our manufacturing and processing facilities count by segment as of december 30 , 2017 was: .
||owned|leased|
|united states|41|1|
|canada|2|2014|
|europe|11|2014|
|rest of world|26|2|
we maintain all of our manufacturing and processing facilities in good condition and believe they are suitable and are adequate for our present needs . we also enter into co-manufacturing arrangements with third parties if we determine it is advantageous to outsource the production of any of our products . item 3 . legal proceedings . we are routinely involved in legal proceedings , claims , and governmental inquiries , inspections or investigations ( 201clegal matters 201d ) arising in the ordinary course of our business . while we cannot predict with certainty the results of legal matters in which we are currently involved or may in the future be involved , we do not expect that the ultimate costs to resolve any of the legal matters that are currently pending will have a material adverse effect on our financial condition or results of operations . item 4 . mine safety disclosures . not applicable. .
Question: what portion of the total facilities is owned by the company?
Answer: | 0.96386 |
FINQA3164 | Please answer the given financial question based on the context.
Context: stockholder return performance graph the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index . the graph assumes that the value of the investment in our common stock and in each index on december 31 , 2011 ( including reinvestment of dividends ) was $ 100 and tracks it each year thereafter on the last day of our fiscal year through december 31 , 2016 and , for each index , on the last day of the calendar year . comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , and s&p 400 information technology cadence design systems , inc . nasdaq composite s&p 400 information technology 12/31/1612/28/13 1/2/1612/31/11 1/3/1512/29/12 *$ 100 invested on 12/31/11 in stock or index , including reinvestment of dividends . indexes calculated on month-end basis . copyright a9 2017 standard & poor 2019s , a division of s&p global . all rights reserved. .
||12/31/2011|12/29/2012|12/28/2013|1/3/2015|1/2/2016|12/31/2016|
|cadence design systems inc .|100.00|129.23|133.94|181.06|200.10|242.50|
|nasdaq composite|100.00|116.41|165.47|188.69|200.32|216.54|
|s&p 400 information technology|100.00|118.41|165.38|170.50|178.74|219.65|
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .
Question: what is the rate of return of an investment in cadence design systems from the end of the year in 2015 to the end of the year in 2016?
Answer: | 0.10516 |
FINQA3165 | Please answer the given financial question based on the context.
Context: average revenue per car 2008 2007 2006 % ( % ) change 2008 v 2007 % ( % ) change 2007 v 2006 .
|average revenue per car|2008|2007|2006|% ( % ) change 2008 v 2007|% ( % ) change 2007 v 2006|
|agricultural|$ 3352|$ 2888|$ 2584|16 % ( % )|12% ( 12 % )|
|automotive|2017|1766|1710|14|3|
|chemicals|2818|2464|2326|14|6|
|energy|1622|1363|1285|19|6|
|industrial products|2620|2322|2167|13|7|
|intermodal|955|847|813|13|4|
|average|$ 1848|$ 1591|$ 1501|16 % ( % )|6% ( 6 % )|
agricultural products 2013 price improvements , fuel surcharges , and volume growth generated higher agricultural freight revenue in 2008 versus 2007 . strong global demand for grain and a weak dollar drove higher shipments of corn and feed grains and shipments of wheat and food grains for 2008 . shipments of ethanol , a grain product used as an alternative fuel and fuel additive , and its co- products ( primarily livestock feed ) also increased . price increases were the primary drivers of agricultural freight revenue in 2007 versus 2006 , partially offset by a decline in volume levels . shipments of whole grains used in feed declined as barge operators captured more shipments destined for export from the gulf coast due to both favorable barge rates and improved navigation conditions on the mississippi river . conversely , wheat and food grain shipments improved as a strong wheat crop generated record shipments to the gulf coast for export . shipments of ethanol and its co-products also increased substantially . automotive 2013 double-digit declines in shipments of both finished vehicles and auto parts drove freight revenue lower in 2008 compared to 2007 . price improvements and fuel surcharges partially offset these lower volumes . the manufacturers experienced poor sales and reduced vehicle production during 2008 due to the recessionary economy , which in turn reduced shipments of finished vehicles and parts . in addition , a major parts supplier strike reduced volume levels compared to 2007 . shipments of finished vehicles decreased 23% ( 23 % ) in 2008 versus 2007 . in 2007 , price increases drove the growth in automotive revenue , partially offset by lower finished vehicle shipments versus 2006 . a decline in vehicle production levels primarily drove the volume decline . conversely , automotive parts shipments grew due to increased volumes from domestic manufacturers , new business acquired in the middle of 2006 , and our new intermodal train service between mexico and michigan . 2008 agricultural revenue 2008 automotive revenue .
Question: in 2008 what was the ratio of the average revenue per car for the agriculture products to energy
Answer: | 2.06658 |
FINQA3166 | Please answer the given financial question based on the context.
Context: guarantees we adopted fasb interpretation no . 45 ( 201cfin 45 201d ) , 201cguarantor 2019s accounting and disclosure requirements for guarantees , including indirect guarantees of indebtedness of others 201d at the beginning of our fiscal 2003 . see 201crecent accounting pronouncements 201d for further information regarding fin 45 . the lease agreements for our three office buildings in san jose , california provide for residual value guarantees . these lease agreements were in place prior to december 31 , 2002 and are disclosed in note 14 . in the normal course of business , we provide indemnifications of varying scope to customers against claims of intellectual property infringement made by third parties arising from the use of our products . historically , costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations . we have commitments to make certain milestone and/or retention payments typically entered into in conjunction with various acquisitions , for which we have made accruals in our consolidated financial statements . in connection with our purchases of technology assets during fiscal 2003 , we entered into employee retention agreements totaling $ 2.2 million . we are required to make payments upon satisfaction of certain conditions in the agreements . as permitted under delaware law , we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is , or was serving , at our request in such capacity . the indemnification period covers all pertinent events and occurrences during the officer 2019s or director 2019s lifetime . the maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited ; however , we have director and officer insurance coverage that limits our exposure and enables us to recover a portion of any future amounts paid . we believe the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal . as part of our limited partnership interests in adobe ventures , we have provided a general indemnification to granite ventures , an independent venture capital firm and sole general partner of adobe ventures , for certain events or occurrences while granite ventures is , or was serving , at our request in such capacity provided that granite ventures acts in good faith on behalf of the partnerships . we are unable to develop an estimate of the maximum potential amount of future payments that could potentially result from any hypothetical future claim , but believe the risk of having to make any payments under this general indemnification to be remote . we accrue for costs associated with future obligations which include costs for undetected bugs that are discovered only after the product is installed and used by customers . the accrual remaining at the end of fiscal 2003 primarily relates to new releases of our creative suites products during the fourth quarter of fiscal 2003 . the table below summarizes the activity related to the accrual during fiscal 2003 : balance at november 29 , 2002 accruals payments balance at november 28 , 2003 .
|balance at november 29 2002|accruals|payments|balance at november 28 2003|
|$ 2014|$ 5554|$ -2369 ( 2369 )|$ 3185|
advertising expenses we expense all advertising costs as incurred and classify these costs under sales and marketing expense . advertising expenses for fiscal years 2003 , 2002 , and 2001 were $ 24.0 million , $ 26.7 million and $ 30.5 million , respectively . foreign currency and other hedging instruments statement of financial accounting standards no . 133 ( 201csfas no . 133 201d ) , 201caccounting for derivative instruments and hedging activities , 201d establishes accounting and reporting standards for derivative instruments and hedging activities and requires us to recognize these as either assets or liabilities on the balance sheet and measure them at fair value . as described in note 15 , gains and losses resulting from .
Question: what is the growth rate in advertising expense in 2002 relative to 2001?
Answer: | -0.12459 |
FINQA3167 | Please answer the given financial question based on the context.
Context: brokered home equity lines of credit ) . as part of our overall risk analysis and monitoring , we segment the home equity portfolio based upon the loan delinquency , modification status and bankruptcy status , as well as the delinquency , modification status and bankruptcy status of any mortgage loan with the same borrower ( regardless of whether it is a first lien senior to our second lien ) . in establishing our alll for non-impaired loans , we utilize a delinquency roll-rate methodology for pools of loans . the roll-rate methodology estimates transition/roll of loan balances from one delinquency state to the next delinquency state and ultimately to charge-off . the roll through to charge-off is based on our actual loss experience for each type of pool . each of our home equity pools contains both first and second liens . our experience has been that the ratio of first to second lien loans has been consistent over time and the charge-off amounts for the pools , used to establish our allowance , include losses on both first and second lien loans . generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20-year amortization term . during the draw period , we have home equity lines of credit where borrowers pay either interest only or principal and interest . we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments . the risk associated with the borrower 2019s ability to satisfy the loan terms upon the draw period ending is considered in establishing our alll . based upon outstanding balances at december 31 , 2016 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end . table 18 : home equity lines of credit 2013 draw period end in millions interest only product principal and interest product .
|in millions|interest onlyproduct|principal andinterest product|
|2017|$ 1657|$ 434|
|2018|796|636|
|2019|546|483|
|2020|442|434|
|2021 and thereafter|2960|6438|
|total ( a ) ( b )|$ 6401|$ 8425|
( a ) includes all home equity lines of credit that mature in 2017 or later , including those with borrowers where we have terminated borrowing privileges . ( b ) includes home equity lines of credit with balloon payments , including those where we have terminated borrowing privileges , of $ 35 million , $ 27 million , $ 20 million , $ 71 million and $ 416 million with draw periods scheduled to end in 2017 , 2018 , 2019 , 2020 and 2021 and thereafter , respectively . based upon outstanding balances , and excluding purchased impaired loans , at december 31 , 2016 , for home equity lines of credit for which the borrower can no longer draw ( e.g. , draw period has ended or borrowing privileges have been terminated ) , approximately 3% ( 3 % ) were 30-89 days past due and approximately 6% ( 6 % ) were 90 days or more past due , which are accounted for as nonperforming . generally , when a borrower becomes 60 days past due , we terminate borrowing privileges and those privileges are not subsequently reinstated . at that point , we continue our collection/recovery processes , which may include loan modification resulting in a loan that is classified as a tdr . auto loan portfolio the auto loan portfolio totaled $ 12.4 billion as of december 31 , 2016 , or 6% ( 6 % ) of our total loan portfolio . of that total , $ 10.8 billion resides in the indirect auto portfolio , $ 1.3 billion in the direct auto portfolio , and $ .3 billion in acquired or securitized portfolios , which has been declining as no pools have been recently acquired . indirect auto loan applications are generated from franchised automobile dealers . this business is strategically aligned with our core retail business . we have elected not to pursue non-prime auto lending as evidenced by an average new loan origination fico score during 2016 of 760 for indirect auto loans and 775 for direct auto loans . as of december 31 , 2016 , .4% ( .4 % ) of our auto loan portfolio was nonperforming and .5% ( .5 % ) of the portfolio was accruing past due . we offer both new and used automobile financing to customers through our various channels . the portfolio was composed of 57% ( 57 % ) new vehicle loans and 43% ( 43 % ) used vehicle loans at december 31 , 2016 . the auto loan portfolio 2019s performance is measured monthly , including updated collateral values that are obtained monthly and updated fico scores that are obtained at least quarterly . for internal reporting and risk management , we analyze the portfolio by product channel and product type , and regularly evaluate default and delinquency experience . as part of our overall risk analysis and monitoring , we segment the portfolio by loan structure , collateral attributes , and credit metrics which include fico score , loan-to-value and term . energy related loan portfolio our portfolio of loans outstanding in the oil and gas industry totaled $ 2.4 billion as of december 31 , 2016 , or 1% ( 1 % ) of our total loan portfolio and 2% ( 2 % ) of our total commercial lending portfolio . this portfolio comprised approximately $ 1.0 billion in the midstream and downstream sectors , $ .8 billion to oil services companies and $ .6 billion to upstream sectors . of the oil services portfolio , approximately $ .2 billion is not asset- based or investment grade . nonperforming loans in the oil and gas sector as of december 31 , 2016 totaled $ 184 million , or 8% ( 8 % ) of total nonperforming assets . our portfolio of loans outstanding in the coal industry totaled $ .4 billion as of december 31 , 2016 , or less than 1% ( 1 % ) of both our total loan portfolio and our total commercial lending portfolio . nonperforming loans in the coal industry as of december 31 , 2016 totaled $ 61 million , or 3% ( 3 % ) of total nonperforming assets . the pnc financial services group , inc . 2013 form 10-k 57 .
Question: was the interest only product balance for the 2017 draw period greater than the 2018 draw period?\\n\\n
Answer: | yes |
FINQA3168 | Please answer the given financial question based on the context.
Context: 59jackhenry.com note 12 . business acquisition bayside business solutions , inc . effective july 1 , 2015 , the company acquired all of the equity interests of bayside business solutions , an alabama-based company that provides technology solutions and payment processing services primarily for the financial services industry , for $ 10000 paid in cash . this acquisition was funded using existing operating cash . the acquisition of bayside business solutions expanded the company 2019s presence in commercial lending within the industry . management has completed a purchase price allocation of bayside business solutions and its assessment of the fair value of acquired assets and liabilities assumed . the recognized amounts of identifiable assets acquired and liabilities assumed , based upon their fair values as of july 1 , 2015 are set forth below: .
|current assets|$ 1922|
|long-term assets|253|
|identifiable intangible assets|5005|
|total liabilities assumed|-3279 ( 3279 )|
|total identifiable net assets|3901|
|goodwill|6099|
|net assets acquired|$ 10000|
the goodwill of $ 6099 arising from this acquisition consists largely of the growth potential , synergies and economies of scale expected from combining the operations of the company with those of bayside business solutions , together with the value of bayside business solutions 2019 assembled workforce . goodwill from this acquisition has been allocated to our bank systems and services segment . the goodwill is not expected to be deductible for income tax purposes . identifiable intangible assets from this acquisition consist of customer relationships of $ 3402 , $ 659 of computer software and other intangible assets of $ 944 . the weighted average amortization period for acquired customer relationships , acquired computer software , and other intangible assets is 15 years , 5 years , and 20 years , respectively . current assets were inclusive of cash acquired of $ 1725 . the fair value of current assets acquired included accounts receivable of $ 178 . the gross amount of receivables was $ 178 , none of which was expected to be uncollectible . during fiscal year 2016 , the company incurred $ 55 in costs related to the acquisition of bayside business solutions . these costs included fees for legal , valuation and other fees . these costs were included within general and administrative expenses . the results of bayside business solutions 2019 operations included in the company 2019s consolidated statement of income for the twelve months ended june 30 , 2017 included revenue of $ 6536 and after-tax net income of $ 1307 . for the twelve months ended june 30 , 2016 , bayside business solutions 2019 contributed $ 4273 to revenue , and after-tax net income of $ 303 . the accompanying consolidated statements of income do not include any revenues and expenses related to this acquisition prior to the acquisition date . the impact of this acquisition was considered immaterial to both the current and prior periods of our consolidated financial statements and pro forma financial information has not been provided. .
Question: what was the percent of the total assets acquisitions allocated to goodwill
Answer: | 0.6099 |
FINQA3169 | Please answer the given financial question based on the context.
Context: amount of commitment expiration per period other commercial commitments after millions total 2012 2013 2014 2015 2016 2016 .
|other commercial commitmentsmillions|total|amount of commitment expiration per period 2012|amount of commitment expiration per period 2013|amount of commitment expiration per period 2014|amount of commitment expiration per period 2015|amount of commitment expiration per period 2016|amount of commitment expiration per period after 2016|
|credit facilities [a]|$ 1800|$ -|$ -|$ -|$ 1800|$ -|$ -|
|receivables securitization facility [b]|600|600|-|-|-|-|-|
|guarantees [c]|325|18|8|214|12|13|60|
|standby letters of credit [d]|24|24|-|-|-|-|-|
|total commercialcommitments|$ 2749|$ 642|$ 8|$ 214|$ 1812|$ 13|$ 60|
[a] none of the credit facility was used as of december 31 , 2011 . [b] $ 100 million of the receivables securitization facility was utilized at december 31 , 2011 , which is accounted for as debt . the full program matures in august 2012 . [c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . [d] none of the letters of credit were drawn upon as of december 31 , 2011 . off-balance sheet arrangements guarantees 2013 at december 31 , 2011 , we were contingently liable for $ 325 million in guarantees . we have recorded a liability of $ 3 million for the fair value of these obligations as of december 31 , 2011 and 2010 . we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . the final guarantee expires in 2022 . we are not aware of any existing event of default that would require us to satisfy these guarantees . we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity . other matters labor agreements 2013 in january 2010 , the nation 2019s largest freight railroads began the current round of negotiations with the labor unions . generally , contract negotiations with the various unions take place over an extended period of time . this round of negotiations was no exception . in september 2011 , the rail industry reached agreements with the united transportation union . on november 5 , 2011 , a presidential emergency board ( peb ) appointed by president obama issued recommendations to resolve the disputes between the u.s . railroads and 11 unions that had not yet reached agreements . since then , ten unions reached agreements with the railroads , all of them generally patterned on the recommendations of the peb , and the unions subsequently ratified these agreements . the railroad industry reached a tentative agreement with the brotherhood of maintenance of way employees ( bmwe ) on february 2 , 2012 , eliminating the immediate threat of a national rail strike . the bmwe now will commence ratification of this tentative agreement by its members . inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies . as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts . derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices . we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes . derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period . we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness . changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings . we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements. .
Question: using the 2012 expirations as a guide , in how many years will the current commitments expire?
Answer: | 4.28193 |
FINQA3170 | Please answer the given financial question based on the context.
Context: during 2014 , $ 91 million of provision recapture was recorded for purchased impaired loans compared to $ 11 million of provision expense for 2013 . the charge-offs ( which were specifically for commercial loans greater than a defined threshold ) during 2014 were $ 42 million compared to $ 104 million for 2013 . at december 31 , 2014 , the allowance for loan and lease losses was $ .9 billion on $ 4.4 billion of purchased impaired loans while the remaining $ .5 billion of purchased impaired loans required no allowance as the net present value of expected cash flows equaled or exceeded the recorded investment . as of december 31 , 2013 , the allowance for loan and lease losses related to purchased impaired loans was $ 1.0 billion . if any allowance for loan losses is recognized on a purchased impaired pool , which is accounted for as a single asset , the entire balance of that pool would be disclosed as requiring an allowance . subsequent increases in the net present value of cash flows will result in a provision recapture of any previously recorded allowance for loan and lease losses , to the extent applicable , and/or a reclassification from non-accretable difference to accretable yield , which will be recognized prospectively . individual loan transactions where final dispositions have occurred ( as noted above ) result in removal of the loans from their applicable pools for cash flow estimation purposes . the cash flow re-estimation process is completed quarterly to evaluate the appropriateness of the allowance associated with the purchased impaired loans . activity for the accretable yield during 2014 and 2013 follows : table 72 : purchased impaired loans 2013 accretable yield .
|in millions|2014|2013|
|january 1|$ 2055|$ 2166|
|accretion ( including excess cash recoveries )|-587 ( 587 )|-695 ( 695 )|
|net reclassifications to accretable from non-accretable ( a )|208|613|
|disposals|-118 ( 118 )|-29 ( 29 )|
|december 31|$ 1558|$ 2055|
( a ) approximately 93% ( 93 % ) of net reclassifications for the year ended december 31 , 2014 were within the commercial portfolio as compared to 37% ( 37 % ) for year ended december 31 , 2013 . note 5 allowances for loan and lease losses and unfunded loan commitments and letters of credit allowance for loan and lease losses we maintain the alll at levels that we believe to be appropriate to absorb estimated probable credit losses incurred in the portfolios as of the balance sheet date . we use the two main portfolio segments 2013 commercial lending and consumer lending 2013 and develop and document the alll under separate methodologies for each of these segments as discussed in note 1 accounting policies . a rollforward of the alll and associated loan data is presented below . the pnc financial services group , inc . 2013 form 10-k 143 .
Question: what was the dollar amount in millions for net reclassifications for the year ended december 31 , 2014 due to the commercial portfolio?
Answer: | 193.44 |
FINQA3171 | 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 is the growth rate of revenue from 2009 to 2010?
Answer: | 0.01872 |
FINQA3172 | Please answer the given financial question based on the context.
Context: commitments . for a further description of the loan loss reserve and related accounts , see 201cmanaging global risk 201d and notes 1 and 18 to the consolidated financial statements on pages 51 , 122 and 165 , respectively . securitizations the company securitizes a number of different asset classes as a means of strengthening its balance sheet and accessing competitive financing rates in the market . under these securitization programs , assets are sold into a trust and used as collateral by the trust to obtain financing . the cash flows from assets in the trust service the corresponding trust securities . if the structure of the trust meets certain accounting guidelines , trust assets are treated as sold and are no longer reflected as assets of the company . if these guidelines are not met , the assets continue to be recorded as the company 2019s assets , with the financing activity recorded as liabilities on citigroup 2019s balance sheet . citigroup also assists its clients in securitizing their financial assets and packages and securitizes financial assets purchased in the financial markets . the company may also provide administrative , asset management , underwriting , liquidity facilities and/or other services to the resulting securitization entities and may continue to service some of these financial assets . elimination of qspes and changes in the fin 46 ( r ) consolidation model the fasb has issued an exposure draft of a proposed standard that would eliminate qualifying special purpose entities ( qspes ) from the guidance in fasb statement no . 140 , accounting for transfers and servicing of financial assets and extinguishments of liabilities ( sfas 140 ) . while the proposed standard has not been finalized , if it is issued in its current form it will have a significant impact on citigroup 2019s consolidated financial statements as the company will lose sales treatment for certain assets previously sold to a qspe , as well as for certain future sales , and for certain transfers of portions of assets that do not meet the proposed definition of 201cparticipating interests . 201d this proposed revision could become effective on january 1 , 2010 . in connection with the proposed changes to sfas 140 , the fasb has also issued a separate exposure draft of a proposed standard that proposes three key changes to the consolidation model in fasb interpretation no . 46 ( revised december 2003 ) , 201cconsolidation of variable interest entities 201d ( fin 46 ( r ) ) . first , the revised standard would include former qspes in the scope of fin 46 ( r ) . in addition , fin 46 ( r ) would be amended to change the method of analyzing which party to a variable interest entity ( vie ) should consolidate the vie ( such consolidating entity is referred to as the 201cprimary beneficiary 201d ) to a qualitative determination of power combined with benefits or losses instead of the current risks and rewards model . finally , the proposed standard would require that the analysis of primary beneficiaries be re-evaluated whenever circumstances change . the existing standard requires reconsideration only when specified reconsideration events occur . the fasb is currently deliberating these proposed standards , and they are , accordingly , still subject to change . since qspes will likely be eliminated from sfas 140 and thus become subject to fin 46 ( r ) consolidation guidance and because the fin 46 ( r ) method of determining which party must consolidate a vie will likely change should this proposed standard become effective , the company expects to consolidate certain of the currently unconsolidated vies and qspes with which citigroup was involved as of december 31 , 2008 . the company 2019s estimate of the incremental impact of adopting these changes on citigroup 2019s consolidated balance sheets and risk-weighted assets , based on december 31 , 2008 balances , our understanding of the proposed changes to the standards and a proposed january 1 , 2010 effective date , is presented below . the actual impact of adopting the amended standards as of january 1 , 2010 could materially differ . the pro forma impact of the proposed changes on gaap assets and risk- weighted assets , assuming application of existing risk-based capital rules , at january 1 , 2010 ( based on the balances at december 31 , 2008 ) would result in the consolidation of incremental assets as follows: .
|in billions of dollars|incremental gaap assets|incremental risk- weighted assets|
|credit cards|$ 91.9|$ 88.9|
|commercial paper conduits|59.6|2014|
|private label consumer mortgages|4.4|2.1|
|student loans|14.4|3.5|
|muni bonds|6.2|1.9|
|mutual fund deferred sales commission securitization|0.8|0.8|
|investment funds|1.7|1.7|
|total|$ 179.0|$ 98.9|
the table reflects ( i ) the estimated portion of the assets of qspes to which citigroup , acting as principal , has transferred assets and received sales treatment as of december 31 , 2008 ( totaling approximately $ 822.1 billion ) , and ( ii ) the estimated assets of significant unconsolidated vies as of december 31 , 2008 with which citigroup is involved ( totaling approximately $ 288.0 billion ) that would be consolidated under the proposal . due to the variety of transaction structures and level of the company 2019s involvement in individual qspes and vies , only a subset of the qspes and vies with which the company is involved are expected to be consolidated under the proposed change . a complete description of the company 2019s accounting for securitized assets can be found in note 1 to the consolidated financial statements on page 122. .
Question: what percentage of incremental risk-weighted assets are student loans at january 1 , 2010?
Answer: | 0.03539 |
FINQA3173 | Please answer the given financial question based on the context.
Context: stock performance graph : the graph below shows the cumulative total shareholder return assuming the investment of $ 100 , on december 31 , 2011 , and the reinvestment of dividends thereafter , if any , in the company 2019s common stock versus the standard and poor 2019s s&p 500 retail index ( 201cs&p 500 retail index 201d ) and the standard and poor 2019s s&p 500 index ( 201cs&p 500 201d ) . .
|company/index|december 31 , 2011|december 31 , 2012|december 31 , 2013|december 31 , 2014|december 31 , 2015|december 31 , 2016|
|o 2019reilly automotive inc .|$ 100|$ 112|$ 161|$ 241|$ 317|$ 348|
|s&p 500 retail index|100|125|180|197|245|257|
|s&p 500|$ 100|$ 113|$ 147|$ 164|$ 163|$ 178|
.
Question: what was the 2012 return on o 2019reilly automotive inc . stock?\\n
Answer: | 12.0 |
FINQA3174 | Please answer the given financial question based on the context.
Context: humana inc . notes to consolidated financial statements 2014 ( continued ) 3 . acquisitions on december 21 , 2010 , we acquired concentra inc. , or concentra , a health care company based in addison , texas , for cash consideration of $ 804.7 million . through its affiliated clinicians , concentra delivers occupational medicine , urgent care , physical therapy , and wellness services to workers and the general public through its operation of medical centers and worksite medical facilities . the concentra acquisition provides entry into the primary care space on a national scale , offering additional means for achieving health and wellness solutions and providing an expandable platform for growth with a management team experienced in physician asset management and alternate site care . the preliminary fair values of concentra 2019s assets acquired and liabilities assumed at the date of the acquisition are summarized as follows : concentra ( in thousands ) .
||concentra ( in thousands )|
|cash and cash equivalents|$ 21317|
|receivables|108571|
|other current assets|20589|
|property and equipment|131837|
|goodwill|531372|
|other intangible assets|188000|
|other long-term assets|12935|
|total assets acquired|1014621|
|current liabilities|-100091 ( 100091 )|
|other long-term liabilities|-109811 ( 109811 )|
|total liabilities assumed|-209902 ( 209902 )|
|net assets acquired|$ 804719|
the other intangible assets , which primarily consist of customer relationships and trade name , have a weighted average useful life of 13.7 years . approximately $ 57.9 million of the acquired goodwill is deductible for tax purposes . the purchase price allocation is preliminary , subject to completion of valuation analyses , including , for example , refining assumptions used to calculate the fair value of other intangible assets . the purchase agreement contains provisions under which there may be future consideration paid or received related to the subsequent determination of working capital that existed at the acquisition date . any payments or receipts for provisional amounts for working capital will be recorded as an adjustment to goodwill when paid or received . the results of operations and financial condition of concentra have been included in our consolidated statements of income and consolidated balance sheets from the acquisition date . in connection with the acquisition , we recognized approximately $ 14.9 million of acquisition-related costs , primarily banker and other professional fees , in selling , general and administrative expense . the proforma financial information assuming the acquisition had occurred as of january 1 , 2009 was not material to our results of operations . on october 31 , 2008 , we acquired php companies , inc . ( d/b/a cariten healthcare ) , or cariten , for cash consideration of approximately $ 291.0 million , including the payment of $ 34.9 million during 2010 to settle a purchase price contingency . the cariten acquisition increased our commercial fully-insured and aso presence as well as our medicare hmo presence in eastern tennessee . during 2009 , we continued our review of the fair value estimate of certain other intangible and net tangible assets acquired . this review resulted in a decrease of $ 27.1 million in the fair value of other intangible assets , primarily related to the fair value assigned to the customer contracts acquired . there was a corresponding adjustment to goodwill and deferred income taxes . the .
Question: what is the ratio of total assets acquired to total liabilities assumed?
Answer: | 4.83378 |
FINQA3175 | Please answer the given financial question based on the context.
Context: during the years ended december 31 , 2013 , 2012 , and 2011 , we recognized approximately $ 6.5 million , $ 5.1 million and $ 4.7 million of compensation expense , respectively , for these options . as of december 31 , 2013 , there was approximately $ 20.3 million of total unrecognized compensation cost related to unvested stock options , which is expected to be recognized over a weighted average period of three years . stock-based compensation effective january 1 , 1999 , we implemented a deferred compensation plan , or the deferred plan , covering certain of our employees , including our executives . the shares issued under the deferred plan were granted to certain employees , including our executives and vesting will occur annually upon the completion of a service period or our meeting established financial performance criteria . annual vesting occurs at rates ranging from 15% ( 15 % ) to 35% ( 35 % ) once performance criteria are reached . a summary of our restricted stock as of december 31 , 2013 , 2012 and 2011 and charges during the years then ended are presented below: .
||2013|2012|2011|
|balance at beginning of year|2804901|2912456|2728290|
|granted|192563|92729|185333|
|cancelled|-3267 ( 3267 )|-200284 ( 200284 )|-1167 ( 1167 )|
|balance at end of year|2994197|2804901|2912456|
|vested during the year|21074|408800|66299|
|compensation expense recorded|$ 6713155|$ 6930381|$ 17365401|
|weighted average fair value of restricted stock granted during the year|$ 17386949|$ 7023942|$ 21768084|
weighted average fair value of restricted stock granted during the year $ 17386949 $ 7023942 $ 21768084 the fair value of restricted stock that vested during the years ended december 31 , 2013 , 2012 and 2011 was $ 1.6 million , $ 22.4 million and $ 4.3 million , respectively . as of december 31 , 2013 , there was $ 17.8 million of total unrecognized compensation cost related to unvested restricted stock , which is expected to be recognized over a weighted average period of approximately 2.7 years . for the years ended december 31 , 2013 , 2012 and 2011 , approximately $ 4.5 million , $ 4.1 million and $ 3.4 million , respectively , was capitalized to assets associated with compensation expense related to our long-term compensation plans , restricted stock and stock options . we granted ltip units , which include bonus , time-based and performance based awards , with a fair value of $ 27.1 million , zero and $ 8.5 million as of 2013 , 2012 and 2011 , respectively . the grant date fair value of the ltip unit awards was calculated in accordance with asc 718 . a third party consultant determined the fair value of the ltip units to have a discount from sl green's common stock price . the discount was calculated by considering the inherent uncertainty that the ltip units will reach parity with other common partnership units and the illiquidity due to transfer restrictions . as of december 31 , 2013 , there was $ 5.0 million of total unrecognized compensation expense related to the time-based and performance based awards , which is expected to be recognized over a weighted average period of approximately 1.5 years . during the years ended december 31 , 2013 , 2012 and 2011 , we recorded compensation expense related to bonus , time-based and performance based awards of approximately $ 27.3 million , $ 12.6 million and $ 8.5 million , respectively . 2010 notional unit long-term compensation plan in december 2009 , the compensation committee of the company's board of directors approved the general terms of the sl green realty corp . 2010 notional unit long-term compensation program , or the 2010 long-term compensation plan . the 2010 long-term compensation plan is a long-term incentive compensation plan pursuant to which award recipients could earn , in the aggregate , from approximately $ 15.0 million up to approximately $ 75.0 million of ltip units in the operating partnership based on our stock price appreciation over three years beginning on december 1 , 2009 ; provided that , if maximum performance had been achieved , approximately $ 25.0 million of awards could be earned at any time after the beginning of the second year and an additional approximately $ 25.0 million of awards could be earned at any time after the beginning of the third year . in order to achieve maximum performance under the 2010 long-term compensation plan , our aggregate stock price appreciation during the performance period had to equal or exceed 50% ( 50 % ) . the compensation committee determined that maximum performance had been achieved at or shortly after the beginning of each of the second and third years of the performance period and for the full performance period and , accordingly , 366815 ltip units , 385583 ltip units and 327416 ltip units were earned under the 2010 long-term compensation plan in december 2010 , 2011 and 2012 , respectively . substantially in accordance with the original terms of the program , 50% ( 50 % ) of these ltip units vested on december 17 , 2012 ( accelerated from the original january 1 , 2013 vesting date ) , 25% ( 25 % ) of these ltip units vested on december 11 , 2013 ( accelerated from the original january 1 , 2014 vesting date ) and the remainder is scheduled to vest on january 1 , 2015 based on .
Question: what was the average recorded compensation expense related to bonus , time-based and performance based awards from 2011 to 2013
Answer: | 16.13333 |
FINQA3176 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis 158 jpmorgan chase & co./2012 annual report the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of other liquid securities collateral , for the dates indicated . ratings profile of derivative receivables .
|rating equivalent december 31 ( in millions except ratios )|rating equivalent exposure net of all collateral|rating equivalent % ( % ) of exposure net of all collateral|exposure net of all collateral|% ( % ) of exposure net of all collateral|
|aaa/aaa to aa-/aa3|$ 20040|33% ( 33 % )|$ 25100|35% ( 35 % )|
|a+/a1 to a-/a3|12169|20|22942|32|
|bbb+/baa1 to bbb-/baa3|18197|29|9595|14|
|bb+/ba1 to b-/b3|9636|16|10545|15|
|ccc+/caa1 and below|1283|2|2488|4|
|total|$ 61325|100% ( 100 % )|$ 70670|100% ( 100 % )|
as noted above , the firm uses collateral agreements to mitigate counterparty credit risk . the percentage of the firm 2019s derivatives transactions subject to collateral agreements 2013 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity 2013 was 88% ( 88 % ) as of december 31 , 2012 , unchanged compared with december 31 , 2011 . credit derivatives credit derivatives are financial instruments whose value is derived from the credit risk associated with the debt of a third party issuer ( the reference entity ) and which allow one party ( the protection purchaser ) to transfer that risk to another party ( the protection seller ) when the reference entity suffers a credit event . if no credit event has occurred , the protection seller makes no payments to the protection purchaser . for a more detailed description of credit derivatives , see credit derivatives in note 6 on pages 218 2013227 of this annual report . the firm uses credit derivatives for two primary purposes : first , in its capacity as a market-maker ; and second , as an end-user , to manage the firm 2019s own credit risk associated with various exposures . included in end-user activities are credit derivatives used to mitigate the credit risk associated with traditional lending activities ( loans and unfunded commitments ) and derivatives counterparty exposure in the firm 2019s wholesale businesses ( 201ccredit portfolio management 201d activities ) . information on credit portfolio management activities is provided in the table below . in addition , the firm uses credit derivatives as an end-user to manage other exposures , including credit risk arising from certain afs securities and from certain securities held in the firm 2019s market making businesses . these credit derivatives , as well as the synthetic credit portfolio , are not included in credit portfolio management activities ; for further information on these credit derivatives as well as credit derivatives used in the firm 2019s capacity as a market maker in credit derivatives , see credit derivatives in note 6 on pages 226 2013227 of this annual report. .
Question: what percentage of derivative receivables was junk rated in 2012?
Answer: | 14.0 |
FINQA3177 | Please answer the given financial question based on the context.
Context: z i m m e r h o l d i n g s , i n c . a n d s u b s i d i a r i e s 2 0 0 4 f o r m 1 0 - k contractual obligations the company has entered into contracts with various third parties in the normal course of business which will require future payments . the following table illustrates the company 2019s contractual obligations : 2006 2008 2010 and and and contractual obligations total 2005 2007 2009 thereafter .
|contractual obligations|total|2005|2006 and 2007|2008 and 2009|2010 and thereafter|
|debt obligations|$ 651.5|$ 27.5|$ 449.0|$ 175.0|$ 2013|
|operating leases|103.0|23.5|34.2|17.7|27.6|
|purchase obligations|16.1|15.5|0.6|2013|2013|
|other long-term liabilities|420.9|2013|135.7|30.5|254.7|
|total contractual obligations|$ 1191.5|$ 66.5|$ 619.5|$ 223.2|$ 282.3|
critical accounting estimates the financial results of the company are affected by the adequate provisions exist for income taxes for all periods and selection and application of accounting policies and methods . jurisdictions subject to review or audit . significant accounting policies which require management 2019s commitments and contingencies 2013 accruals for judgment are discussed below . product liability and other claims are established with excess inventory and instruments 2013 the company internal and external legal counsel based on current must determine as of each balance sheet date how much , if information and historical settlement information for claims , any , of its inventory may ultimately prove to be unsaleable or related fees and for claims incurred but not reported . an unsaleable at its carrying cost . similarly , the company must actuarial model is used by the company to assist also determine if instruments on hand will be put to management in determining an appropriate level of accruals productive use or remain undeployed as a result of excess for product liability claims . historical patterns of claim loss supply . reserves are established to effectively adjust development over time are statistically analyzed to arrive at inventory and instruments to net realizable value . to factors which are then applied to loss estimates in the determine the appropriate level of reserves , the company actuarial model . the amounts established represent evaluates current stock levels in relation to historical and management 2019s best estimate of the ultimate costs that it will expected patterns of demand for all of its products and incur under the various contingencies . instrument systems and components . the basis for the goodwill and intangible assets 2013 the company determination is generally the same for all inventory and evaluates the carrying value of goodwill and indefinite life instrument items and categories except for work-in-progress intangible assets annually , or whenever events or inventory , which is recorded at cost . obsolete or circumstances indicate the carrying value may not be discontinued items are generally destroyed and completely recoverable . the company evaluates the carrying value of written off . management evaluates the need for changes to finite life intangible assets whenever events or circumstances valuation reserves based on market conditions , competitive indicate the carrying value may not be recoverable . offerings and other factors on a regular basis . significant assumptions are required to estimate the fair income taxes 2013 the company estimates income tax value of goodwill and intangible assets , most notably expense and income tax liabilities and assets by taxable estimated future cash flows generated by these assets . jurisdiction . realization of deferred tax assets in each taxable changes to these assumptions could result in the company jurisdiction is dependent on the company 2019s ability to being required to record impairment charges on these assets . generate future taxable income sufficient to realize the benefits . the company evaluates deferred tax assets on an recent accounting pronouncements ongoing basis and provides valuation allowances if it is information about recent accounting pronouncements is determined to be 2018 2018more likely than not 2019 2019 that the deferred tax included in note 2 to the consolidated financial statements , benefit will not be realized . federal income taxes are which are included herein under item 8 . provided on the portion of the income of foreign subsidiaries that is expected to be remitted to the u.s . the company operates within numerous taxing jurisdictions . the company is subject to regulatory review or audit in virtually all of those jurisdictions and those reviews and audits may require extended periods of time to resolve . the company makes use of all available information and makes reasoned judgments regarding matters requiring interpretation in establishing tax expense , liabilities and reserves . the company believes .
Question: what percentage of debt obligations are due in 2005?
Answer: | 0.04221 |
FINQA3178 | Please answer the given financial question based on the context.
Context: new accounting pronouncements information regarding new accounting pronouncements is included in note 1 to the consolidated financial statements . financial condition and liquidity the company generates significant ongoing cash flow . increases in long-term debt have been used , in part , to fund share repurchase activities and acquisitions . on november 15 , 2007 , 3m ( safety , security and protection services business ) announced that it had entered into a definitive agreement for 3m 2019s acquisition of 100 percent of the outstanding shares of aearo holding corp . e83a a global leader in the personal protection industry that manufactures and markets personal protection and energy absorbing products e83a for approximately $ 1.2 billion . the sale is expected to close towards the end of the first quarter of 2008 . at december 31 .
|( millions )|2007|2006|2005|
|total debt|$ 4920|$ 3553|$ 2381|
|less : cash cash equivalents and marketable securities|2955|2084|1072|
|net debt|$ 1965|$ 1469|$ 1309|
cash , cash equivalents and marketable securities at december 31 , 2007 totaled approximately $ 3 billion , helped by strong cash flow generation and by the timing of debt issuances . at december 31 , 2006 , cash balances were higher due to the significant pharmaceuticals sales proceeds received in december 2006 . 3m believes its ongoing cash flows provide ample cash to fund expected investments and capital expenditures . the company has sufficient access to capital markets to meet currently anticipated growth and acquisition investment funding needs . the company does not utilize derivative instruments linked to the company 2019s stock . however , the company does have contingently convertible debt that , if conditions for conversion are met , is convertible into shares of 3m common stock ( refer to note 10 in this document ) . the company 2019s financial condition and liquidity are strong . various assets and liabilities , including cash and short-term debt , can fluctuate significantly from month to month depending on short-term liquidity needs . working capital ( defined as current assets minus current liabilities ) totaled $ 4.476 billion at december 31 , 2007 , compared with $ 1.623 billion at december 31 , 2006 . working capital was higher primarily due to increases in cash and cash equivalents , short-term marketable securities , receivables and inventories and decreases in short-term debt and accrued income taxes . the company 2019s liquidity remains strong , with cash , cash equivalents and marketable securities at december 31 , 2007 totaling approximately $ 3 billion . primary short-term liquidity needs are provided through u.s . commercial paper and euro commercial paper issuances . as of december 31 , 2007 , outstanding total commercial paper issued totaled $ 349 million and averaged $ 1.249 billion during 2007 . the company believes it unlikely that its access to the commercial paper market will be restricted . in june 2007 , the company established a medium-term notes program through which up to $ 3 billion of medium-term notes may be offered , with remaining shelf borrowing capacity of $ 2.5 billion as of december 31 , 2007 . on april 30 , 2007 , the company replaced its $ 565-million credit facility with a new $ 1.5-billion five-year credit facility , which has provisions for the company to request an increase of the facility up to $ 2 billion ( at the lenders 2019 discretion ) , and providing for up to $ 150 million in letters of credit . as of december 31 , 2007 , there are $ 110 million in letters of credit drawn against the facility . at december 31 , 2007 , available short-term committed lines of credit internationally totaled approximately $ 67 million , of which $ 13 million was utilized . debt covenants do not restrict the payment of dividends . the company has a "well-known seasoned issuer" shelf registration statement , effective february 24 , 2006 , to register an indeterminate amount of debt or equity securities for future sales . the company intends to use the proceeds from future securities sales off this shelf for general corporate purposes . at december 31 , 2007 , certain debt agreements ( $ 350 million of dealer remarketable securities and $ 87 million of esop debt ) had ratings triggers ( bbb-/baa3 or lower ) that would require repayment of debt . the company has an aa credit rating , with a stable outlook , from standard & poor 2019s and an aa1 credit rating , with a negative outlook , from moody 2019s investors service . in addition , under the $ 1.5-billion five-year credit facility agreement , 3m is required to maintain its ebitda to interest ratio as of the end of each fiscal quarter at not less than 3.0 to 1 . this is calculated ( as defined in the agreement ) as the ratio of consolidated total ebitda for the four consecutive quarters then ended to total interest expense on all funded debt for the same period . at december 31 , 2007 , this ratio was approximately 35 to 1. .
Question: what was the percentage change in the working capital from 2006 to 2007
Answer: | 1.75786 |
FINQA3179 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2014 ( continued ) fiscal years ended may 27 , 2007 , may 28 , 2006 , and may 29 , 2005 columnar amounts in millions except per share amounts 6 . impairment of debt and equity securities during fiscal 2005 , the company determined that the carrying values of its investments in two unrelated equity method investments , a bio-fuels venture and a malt venture , were other-than-temporarily impaired and therefore recognized pre-tax impairment charges totaling $ 71.0 million ( $ 65.6 million after tax ) . during fiscal 2006 , the company recognized additional impairment charges totaling $ 75.8 million ( $ 73.1 million after tax ) of its investments in the malt venture and an unrelated investment in a foreign prepared foods business , due to further declines in the estimated proceeds from the disposition of these investments . the investment in a foreign prepared foods business was disposed of in fiscal 2006 . the extent of the impairments was determined based upon the company 2019s assessment of the recoverability of its investments based primarily upon the expected proceeds of planned dispositions of the investments . during fiscal 2007 , the company completed the disposition of the equity method investment in the malt venture for proceeds of approximately $ 24 million , including notes and other receivables totaling approximately $ 7 million . this transaction resulted in a pre-tax gain of approximately $ 4 million , with a related tax benefit of approximately $ 4 million . these charges and the subsequent gain on disposition are reflected in equity method investment earnings ( loss ) in the consolidated statements of earnings . the company held , at may 28 , 2006 , subordinated notes in the original principal amount of $ 150 million plus accrued interest of $ 50.4 million from swift foods . during the company 2019s fourth quarter of fiscal 2005 , swift foods effected changes in its capital structure . as a result of those changes , the company determined that the fair value of the subordinated notes was impaired . from the date on which the company initially determined that the value of the notes was impaired through the second quarter of fiscal 2006 , the company believed the impairment of this available-for-sale security to be temporary . as such , the company had reduced the carrying value of the note by $ 35.4 million and recorded cumulative after-tax charges of $ 21.9 million in accumulated other comprehensive income as of the end of the second quarter of fiscal 2006 . during the second half of fiscal 2006 , due to the company 2019s consideration of current conditions related to the debtor 2019s business and changes in the company 2019s intended holding period for this investment , the company determined that the impairment was other-than-temporary . accordingly , the company reduced the carrying value of the notes to approximately $ 117 million and recognized impairment charges totaling $ 82.9 million in selling , general and administrative expenses , including the reclassification of the cumulative after-tax charges of $ 21.9 million from accumulated other comprehensive income , in fiscal 2006 . during the second quarter of fiscal 2007 , the company closed on the sale of these notes for approximately $ 117 million , net of transaction expenses , resulting in no additional gain or loss . 7 . inventories the major classes of inventories are as follows: .
||2007|2006|
|raw materials and packaging|$ 1154.2|$ 985.0|
|work in progress|95.2|97.4|
|finished goods|1008.1|923.6|
|supplies and other|91.0|124.6|
|total|$ 2348.5|$ 2130.6|
raw materials and packaging includes grain , fertilizer , crude oil , and other trading and merchandising inventory of $ 691.0 million and $ 542.1 million as of the end of fiscal year 2007 and 2006 , respectively. .
Question: what percent of total inventories was comprised of raw materials and packaging in 2006?
Answer: | 0.46231 |
FINQA3180 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis net revenues in equities were $ 8.26 billion for 2011 , 2% ( 2 % ) higher than 2010 . during 2011 , average volatility levels increased and equity prices in europe and asia declined significantly , particularly during the third quarter . the increase in net revenues reflected higher commissions and fees , primarily due to higher market volumes , particularly during the third quarter of 2011 . in addition , net revenues in securities services increased compared with 2010 , reflecting the impact of higher average customer balances . equities client execution net revenues were lower than 2010 , primarily reflecting significantly lower net revenues in shares . the net gain attributable to the impact of changes in our own credit spreads on borrowings for which the fair value option was elected was $ 596 million ( $ 399 million and $ 197 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2011 , compared with a net gain of $ 198 million ( $ 188 million and $ 10 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2010 . institutional client services operated in an environment generally characterized by increased concerns regarding the weakened state of global economies , including heightened european sovereign debt risk , and its impact on the european banking system and global financial institutions . these conditions also impacted expectations for economic prospects in the united states and were reflected in equity and debt markets more broadly . in addition , the downgrade in credit ratings of the u.s . government and federal agencies and many financial institutions during the second half of 2011 contributed to further uncertainty in the markets . these concerns , as well as other broad market concerns , such as uncertainty over financial regulatory reform , continued to have a negative impact on our net revenues during 2011 . operating expenses were $ 12.84 billion for 2011 , 14% ( 14 % ) lower than 2010 , due to decreased compensation and benefits expenses , primarily resulting from lower net revenues , lower net provisions for litigation and regulatory proceedings ( 2010 included $ 550 million related to a settlement with the sec ) , the impact of the u.k . bank payroll tax during 2010 , as well as an impairment of our nyse dmm rights of $ 305 million during 2010 . these decreases were partially offset by higher brokerage , clearing , exchange and distribution fees , principally reflecting higher transaction volumes in equities . pre-tax earnings were $ 4.44 billion in 2011 , 35% ( 35 % ) lower than 2010 . investing & lending investing & lending includes our investing activities and the origination of loans to provide financing to clients . these investments and loans are typically longer-term in nature . we make investments , directly and indirectly through funds that we manage , in debt securities and loans , public and private equity securities , real estate , consolidated investment entities and power generation facilities . the table below presents the operating results of our investing & lending segment. .
|in millions|year ended december 2012|year ended december 2011|year ended december 2010|
|icbc|$ 408|$ -517 ( 517 )|$ 747|
|equity securities ( excluding icbc )|2392|1120|2692|
|debt securities and loans|1850|96|2597|
|other|1241|1443|1505|
|total net revenues|5891|2142|7541|
|operating expenses|2666|2673|3361|
|pre-tax earnings/ ( loss )|$ 3225|$ -531 ( 531 )|$ 4180|
2012 versus 2011 . net revenues in investing & lending were $ 5.89 billion and $ 2.14 billion for 2012 and 2011 , respectively . during 2012 , investing & lending net revenues were positively impacted by tighter credit spreads and an increase in global equity prices . results for 2012 included a gain of $ 408 million from our investment in the ordinary shares of icbc , net gains of $ 2.39 billion from other investments in equities , primarily in private equities , net gains and net interest income of $ 1.85 billion from debt securities and loans , and other net revenues of $ 1.24 billion , principally related to our consolidated investment entities . if equity markets decline or credit spreads widen , net revenues in investing & lending would likely be negatively impacted . operating expenses were $ 2.67 billion for 2012 , essentially unchanged compared with 2011 . pre-tax earnings were $ 3.23 billion in 2012 , compared with a pre-tax loss of $ 531 million in 2011 . goldman sachs 2012 annual report 55 .
Question: what was the difference in net revenues in investing & lending in billions between 2012 and 2011?
Answer: | 3.75 |
FINQA3181 | Please answer the given financial question based on the context.
Context: determined that it will primarily be subject to the ietu in future periods , and as such it has recorded tax expense of approximately $ 20 million in 2007 for the deferred tax effects of the new ietu system . as of december 31 , 2007 , the company had us federal net operating loss carryforwards of approximately $ 206 million which will begin to expire in 2023 . of this amount , $ 47 million relates to the pre-acquisition period and is subject to limitation . the remaining $ 159 million is subject to limitation as a result of the change in stock ownership in may 2006 . this limitation is not expected to have a material impact on utilization of the net operating loss carryforwards . the company also had foreign net operating loss carryforwards as of december 31 , 2007 of approximately $ 564 million for canada , germany , mexico and other foreign jurisdictions with various expiration dates . net operating losses in canada have various carryforward periods and began expiring in 2007 . net operating losses in germany have no expiration date . net operating losses in mexico have a ten year carryforward period and begin to expire in 2009 . however , these losses are not available for use under the new ietu tax regulations in mexico . as the ietu is the primary system upon which the company will be subject to tax in future periods , no deferred tax asset has been reflected in the balance sheet as of december 31 , 2007 for these income tax loss carryforwards . the company adopted the provisions of fin 48 effective january 1 , 2007 . fin 48 clarifies the accounting for income taxes by prescribing a minimum recognition threshold a tax benefit is required to meet before being recognized in the financial statements . fin 48 also provides guidance on derecognition , measurement , classification , interest and penalties , accounting in interim periods , disclosure and transition . as a result of the implementation of fin 48 , the company increased retained earnings by $ 14 million and decreased goodwill by $ 2 million . in addition , certain tax liabilities for unrecognized tax benefits , as well as related potential penalties and interest , were reclassified from current liabilities to long-term liabilities . liabilities for unrecognized tax benefits as of december 31 , 2007 relate to various us and foreign jurisdictions . a reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows : year ended december 31 , 2007 ( in $ millions ) .
||year ended december 31 2007 ( in $ millions )|
|balance as of january 1 2007|193|
|increases in tax positions for the current year|2|
|increases in tax positions for prior years|28|
|decreases in tax positions of prior years|-21 ( 21 )|
|settlements|-2 ( 2 )|
|balance as of december 31 2007|200|
included in the unrecognized tax benefits of $ 200 million as of december 31 , 2007 is $ 56 million of tax benefits that , if recognized , would reduce the company 2019s effective tax rate . the company recognizes interest and penalties related to unrecognized tax benefits in the provision for income taxes . as of december 31 , 2007 , the company has recorded a liability of approximately $ 36 million for interest and penalties . this amount includes an increase of approximately $ 13 million for the year ended december 31 , 2007 . the company operates in the united states ( including multiple state jurisdictions ) , germany and approximately 40 other foreign jurisdictions including canada , china , france , mexico and singapore . examinations are ongoing in a number of those jurisdictions including , most significantly , in germany for the years 2001 to 2004 . during the quarter ended march 31 , 2007 , the company received final assessments in germany for the prior examination period , 1997 to 2000 . the effective settlement of those examinations resulted in a reduction to goodwill of approximately $ 42 million with a net expected cash outlay of $ 29 million . the company 2019s celanese corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) %%transmsg*** transmitting job : y48011 pcn : 122000000 ***%%pcmsg|f-49 |00023|yes|no|02/26/2008 22:07|0|0|page is valid , no graphics -- color : d| .
Question: in 2007 what was the percentage change in the account balance of unrecognized tax benefits based on the reconciliation at december 31 .
Answer: | 9.36269 |
FINQA3182 | Please answer the given financial question based on the context.
Context: table of contents adobe inc . notes to consolidated financial statements ( continued ) stock options the 2003 plan allows us to grant options to all employees , including executive officers , outside consultants and non- employee directors . this plan will continue until the earlier of ( i ) termination by the board or ( ii ) the date on which all of the shares available for issuance under the plan have been issued and restrictions on issued shares have lapsed . option vesting periods used in the past were generally four years and expire seven years from the effective date of grant . we eliminated the use of stock option grants for all employees and non-employee directors but may choose to issue stock options in the future . performance share programs our 2018 , 2017 and 2016 performance share programs aim to help focus key employees on building stockholder value , provide significant award potential for achieving outstanding company performance and enhance the ability of the company to attract and retain highly talented and competent individuals . the executive compensation committee of our board of directors approves the terms of each of our performance share programs , including the award calculation methodology , under the terms of our 2003 plan . shares may be earned based on the achievement of an objective relative total stockholder return measured over a three-year performance period . performance share awards will be awarded and fully vest upon the later of the executive compensation committee's certification of the level of achievement or the three-year anniversary of each grant . program participants generally have the ability to receive up to 200% ( 200 % ) of the target number of shares originally granted . on january 24 , 2018 , the executive compensation committee approved the 2018 performance share program , the terms of which are similar to prior year performance share programs as discussed above . as of november 30 , 2018 , the shares awarded under our 2018 , 2017 and 2016 performance share programs are yet to be achieved . issuance of shares upon exercise of stock options , vesting of restricted stock units and performance shares , and purchases of shares under the espp , we will issue treasury stock . if treasury stock is not available , common stock will be issued . in order to minimize the impact of on-going dilution from exercises of stock options and vesting of restricted stock units and performance shares , we instituted a stock repurchase program . see note 12 for information regarding our stock repurchase programs . valuation of stock-based compensation stock-based compensation cost is measured at the grant date based on the fair value of the award . our performance share awards are valued using a monte carlo simulation model . the fair value of the awards are fixed at grant date and amortized over the longer of the remaining performance or service period . we use the black-scholes option pricing model to determine the fair value of espp shares . the determination of the fair value of stock-based payment awards on the date of grant using an option pricing model is affected by our stock price as well as assumptions regarding a number of complex and subjective variables . these variables include our expected stock price volatility over the expected term of the awards , actual and projected employee stock option exercise behaviors , a risk-free interest rate and any expected dividends . the expected term of espp shares is the average of the remaining purchase periods under each offering period . the assumptions used to value employee stock purchase rights were as follows: .
||2018|2017|2016|
|expected life ( in years )|0.5 - 2.0|0.5 - 2.0|0.5 - 2.0|
|volatility|26% ( 26 % ) - 29% ( 29 % )|22% ( 22 % ) - 27% ( 27 % )|26 - 29% ( 29 % )|
|risk free interest rate|1.54% ( 1.54 % ) - 2.52% ( 2.52 % )|0.62% ( 0.62 % ) - 1.41% ( 1.41 % )|0.37 - 1.06% ( 1.06 % )|
.
Question: what is the average volatility used to value employee stock purchase rights in 2018?
Answer: | 0.275 |
FINQA3183 | Please answer the given financial question based on the context.
Context: entergy mississippi , inc . management 2019s financial discussion and analysis the net wholesale revenue variance is primarily due to entergy mississippi 2019s exit from the system agreement in november 2015 . the reserve equalization revenue variance is primarily due to the absence of reserve equalization revenue as compared to the same period in 2015 resulting from entergy mississippi 2019s exit from the system agreement in november 2015 compared to 2014 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2015 to 2014 . amount ( in millions ) .
||amount ( in millions )|
|2014 net revenue|$ 701.2|
|volume/weather|8.9|
|retail electric price|7.3|
|net wholesale revenue|-2.7 ( 2.7 )|
|transmission equalization|-5.4 ( 5.4 )|
|reserve equalization|-5.5 ( 5.5 )|
|other|-7.5 ( 7.5 )|
|2015 net revenue|$ 696.3|
the volume/weather variance is primarily due to an increase of 86 gwh , or 1% ( 1 % ) , in billed electricity usage , including the effect of more favorable weather on residential and commercial sales . the retail electric price variance is primarily due to a $ 16 million net annual increase in revenues , effective february 2015 , as a result of the mpsc order in the june 2014 rate case and an increase in revenues collected through the energy efficiency rider , partially offset by a decrease in revenues collected through the storm damage rider . the rate case included the realignment of certain costs from collection in riders to base rates . see note 2 to the financial statements for a discussion of the rate case , the energy efficiency rider , and the storm damage rider . the net wholesale revenue variance is primarily due to a wholesale customer contract termination in october transmission equalization revenue represents amounts received by entergy mississippi from certain other entergy utility operating companies , in accordance with the system agreement , to allocate the costs of collectively planning , constructing , and operating entergy 2019s bulk transmission facilities . the transmission equalization variance is primarily attributable to the realignment , effective february 2015 , of these revenues from the determination of base rates to inclusion in a rider . such revenues had a favorable effect on net revenue in 2014 , but minimal effect in 2015 . entergy mississippi exited the system agreement in november 2015 . see note 2 to the financial statements for a discussion of the system agreement . reserve equalization revenue represents amounts received by entergy mississippi from certain other entergy utility operating companies , in accordance with the system agreement , to allocate the costs of collectively maintaining adequate electric generating capacity across the entergy system . the reserve equalization variance is primarily attributable to the realignment , effective february 2015 , of these revenues from the determination of base rates to inclusion in a rider . such revenues had a favorable effect on net revenue in 2014 , but minimal effect in 2015 . entergy .
Question: what is the growth rate in net revenue in 2015 for entergy mississippi , inc.?
Answer: | -0.00699 |
FINQA3184 | Please answer the given financial question based on the context.
Context: the following table summarizes the total contractual amount of credit-related , off-balance sheet financial instruments at december 31 . amounts reported do not reflect participations to independent third parties. .
|( in millions )|2008|2007|
|indemnified securities financing|$ 324590|$ 558368|
|liquidity asset purchase agreements|28800|35339|
|unfunded commitments to extend credit|20981|17533|
|standby letters of credit|6061|4711|
approximately 81% ( 81 % ) of the unfunded commitments to extend credit expire within one year from the date of issue . since many of the commitments are expected to expire or renew without being drawn upon , the total commitment amounts do not necessarily represent future cash requirements . securities finance : on behalf of our customers , we lend their securities to creditworthy brokers and other institutions . we generally indemnify our customers for the fair market value of those securities against a failure of the borrower to return such securities . collateral funds received in connection with our securities finance services are held by us as agent and are not recorded in our consolidated statement of condition . we require the borrowers to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the fair market value of the securities borrowed . the borrowed securities are revalued daily to determine if additional collateral is necessary . in this regard , we held , as agent , cash and u.s . government securities with an aggregate fair value of $ 333.07 billion and $ 572.93 billion as collateral for indemnified securities on loan at december 31 , 2008 and 2007 , respectively , presented in the table above . the collateral held by us is invested on behalf of our customers . in certain cases , the collateral is invested in third-party repurchase agreements , for which we indemnify the customer against loss of the principal invested . we require the repurchase agreement counterparty to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the amount of the repurchase agreement . the indemnified repurchase agreements and the related collateral are not recorded in our consolidated statement of condition . of the collateral of $ 333.07 billion at december 31 , 2008 and $ 572.93 billion at december 31 , 2007 referenced above , $ 68.37 billion at december 31 , 2008 and $ 106.13 billion at december 31 , 2007 was invested in indemnified repurchase agreements . we held , as agent , cash and securities with an aggregate fair value of $ 71.87 billion and $ 111.02 billion as collateral for indemnified investments in repurchase agreements at december 31 , 2008 and december 31 , 2007 , respectively . asset-backed commercial paper program : in the normal course of our business , we provide liquidity and credit enhancement to an asset-backed commercial paper program sponsored and administered by us , described in note 12 . the commercial paper issuances and commitments of the commercial paper conduits to provide funding are supported by liquidity asset purchase agreements and back-up liquidity lines of credit , the majority of which are provided by us . in addition , we provide direct credit support to the conduits in the form of standby letters of credit . our commitments under liquidity asset purchase agreements and back-up lines of credit totaled $ 23.59 billion at december 31 , 2008 , and are included in the preceding table . our commitments under standby letters of credit totaled $ 1.00 billion at december 31 , 2008 , and are also included in the preceding table . legal proceedings : several customers have filed litigation claims against us , some of which are putative class actions purportedly on behalf of customers invested in certain of state street global advisors 2019 , or ssga 2019s , active fixed-income strategies . these claims related to investment losses in one or more of ssga 2019s strategies that included sub-prime investments . in 2007 , we established a reserve of approximately $ 625 million to address legal exposure associated with the under-performance of certain active fixed-income strategies managed by ssga and customer concerns as to whether the execution of these strategies was consistent with the customers 2019 investment intent . these strategies were adversely impacted by exposure to , and the lack of liquidity in .
Question: between 2007 and 2008 , what percent did the value of standby letters of credit increase?
Answer: | 0.28656 |
FINQA3185 | Please answer the given financial question based on the context.
Context: sources of liquidity primary sources of liquidity for citigroup and its principal subsidiaries include : 2022 deposits ; 2022 collateralized financing transactions ; 2022 senior and subordinated debt ; 2022 commercial paper ; 2022 trust preferred and preferred securities ; and 2022 purchased/wholesale funds . citigroup 2019s funding sources are diversified across funding types and geography , a benefit of its global franchise . funding for citigroup and its major operating subsidiaries includes a geographically diverse retail and corporate deposit base of $ 774.2 billion . these deposits are diversified across products and regions , with approximately two-thirds of them outside of the u.s . this diversification provides the company with an important , stable and low-cost source of funding . a significant portion of these deposits has been , and is expected to be , long-term and stable , and are considered to be core . there are qualitative as well as quantitative assessments that determine the company 2019s calculation of core deposits . the first step in this process is a qualitative assessment of the deposits . for example , as a result of the company 2019s qualitative analysis certain deposits with wholesale funding characteristics are excluded from consideration as core . deposits that qualify under the company 2019s qualitative assessments are then subjected to quantitative analysis . excluding the impact of changes in foreign exchange rates and the sale of our retail banking operations in germany during the year ending december 31 , 2008 , the company 2019s deposit base remained stable . on a volume basis , deposit increases were noted in transaction services , u.s . retail banking and smith barney . this was partially offset by the company 2019s decision to reduce deposits considered wholesale funding , consistent with the company 2019s de-leveraging efforts , and declines in international consumer banking and the private bank . citigroup and its subsidiaries have historically had a significant presence in the global capital markets . the company 2019s capital markets funding activities have been primarily undertaken by two legal entities : ( i ) citigroup inc. , which issues long-term debt , medium-term notes , trust preferred securities , and preferred and common stock ; and ( ii ) citigroup funding inc . ( cfi ) , a first-tier subsidiary of citigroup , which issues commercial paper , medium-term notes and structured equity-linked and credit-linked notes , all of which are guaranteed by citigroup . other significant elements of long- term debt on the consolidated balance sheet include collateralized advances from the federal home loan bank system , long-term debt related to the consolidation of icg 2019s structured investment vehicles , asset-backed outstandings , and certain borrowings of foreign subsidiaries . each of citigroup 2019s major operating subsidiaries finances its operations on a basis consistent with its capitalization , regulatory structure and the environment in which it operates . particular attention is paid to those businesses that for tax , sovereign risk , or regulatory reasons cannot be freely and readily funded in the international markets . citigroup 2019s borrowings have historically been diversified by geography , investor , instrument and currency . decisions regarding the ultimate currency and interest rate profile of liquidity generated through these borrowings can be separated from the actual issuance through the use of derivative instruments . citigroup is a provider of liquidity facilities to the commercial paper programs of the two primary credit card securitization trusts with which it transacts . citigroup may also provide other types of support to the trusts . as a result of the recent economic downturn , its impact on the cashflows of the trusts , and in response to credit rating agency reviews of the trusts , the company increased the credit enhancement in the omni trust , and plans to provide additional enhancement to the master trust ( see note 23 to consolidated financial statements on page 175 for a further discussion ) . this support preserves investor sponsorship of our card securitization franchise , an important source of liquidity . banking subsidiaries there are various legal limitations on the ability of citigroup 2019s subsidiary depository institutions to extend credit , pay dividends or otherwise supply funds to citigroup and its non-bank subsidiaries . the approval of the office of the comptroller of the currency , in the case of national banks , or the office of thrift supervision , in the case of federal savings banks , is required if total dividends declared in any calendar year exceed amounts specified by the applicable agency 2019s regulations . state-chartered depository institutions are subject to dividend limitations imposed by applicable state law . in determining the declaration of dividends , each depository institution must also consider its effect on applicable risk-based capital and leverage ratio requirements , as well as policy statements of the federal regulatory agencies that indicate that banking organizations should generally pay dividends out of current operating earnings . non-banking subsidiaries citigroup also receives dividends from its non-bank subsidiaries . these non-bank subsidiaries are generally not subject to regulatory restrictions on dividends . however , as discussed in 201ccapital resources and liquidity 201d on page 94 , the ability of cgmhi to declare dividends can be restricted by capital considerations of its broker-dealer subsidiaries . cgmhi 2019s consolidated balance sheet is liquid , with the vast majority of its assets consisting of marketable securities and collateralized short-term financing agreements arising from securities transactions . cgmhi monitors and evaluates the adequacy of its capital and borrowing base on a daily basis to maintain liquidity and to ensure that its capital base supports the regulatory capital requirements of its subsidiaries . some of citigroup 2019s non-bank subsidiaries , including cgmhi , have credit facilities with citigroup 2019s subsidiary depository institutions , including citibank , n.a . borrowings under these facilities must be secured in accordance with section 23a of the federal reserve act . there are various legal restrictions on the extent to which a bank holding company and certain of its non-bank subsidiaries can borrow or obtain credit from citigroup 2019s subsidiary depository institutions or engage in certain other transactions with them . in general , these restrictions require that transactions be on arm 2019s length terms and be secured by designated amounts of specified collateral . see note 20 to the consolidated financial statements on page 169 . at december 31 , 2008 , long-term debt and commercial paper outstanding for citigroup , cgmhi , cfi and citigroup 2019s subsidiaries were as follows : in billions of dollars citigroup parent company cgmhi ( 2 ) citigroup funding inc . ( 2 ) citigroup subsidiaries long-term debt $ 192.3 $ 20.6 $ 37.4 $ 109.3 ( 1 ) .
|in billions of dollars|citigroup parent company|cgmhi ( 2 )|citigroup funding inc. ( 2 )|other citigroup subsidiaries||
|long-term debt|$ 192.3|$ 20.6|$ 37.4|$ 109.3|-1 ( 1 )|
|commercial paper|$ 2014|$ 2014|$ 28.6|$ 0.5||
( 1 ) at december 31 , 2008 , approximately $ 67.4 billion relates to collateralized advances from the federal home loan bank . ( 2 ) citigroup inc . guarantees all of cfi 2019s debt and cgmhi 2019s publicly issued securities. .
Question: what was the total long-term debt for citigroup subsidiaries long-term debt at december 312008
Answer: | 359.6 |
FINQA3186 | Please answer the given financial question based on the context.
Context: republic services , inc . notes to consolidated financial statements 2014 ( continued ) 11 . employee benefit plans stock-based compensation in february 2007 , our board of directors approved the 2007 stock incentive plan ( 2007 plan ) , and in may 2007 our shareholders ratified the 2007 plan . in march 2011 , our board of directors approved the amended and restated 2007 stock incentive plan , and in may 2011 our shareholders ratified the amended and restated 2007 stock incentive plan . in march 2013 , our board of directors approved the republic services , inc . amended and restated 2007 stock incentive plan ( the amended and restated plan ) , and in may 2013 our shareholders ratified the amended and restated plan . we currently have approximately 15.6 million shares of common stock reserved for future grants under the amended and restated plan . options granted under the 2007 plan and the amended and restated plan are non-qualified and are granted at a price equal to the fair market value of our common stock at the date of grant . generally , options granted have a term of seven to ten years from the date of grant , and vest in increments of 25% ( 25 % ) per year over a period of four years beginning on the first anniversary date of the grant . options granted to non-employee directors have a term of ten years and are fully vested at the grant date . in december 2008 , the board of directors amended and restated the republic services , inc . 2006 incentive stock plan ( formerly known as the allied waste industries , inc . 2006 incentive stock plan ) ( the 2006 plan ) . allied 2019s shareholders approved the 2006 plan in may 2006 . the 2006 plan was amended and restated in december 2008 to reflect republic as the new sponsor of the plan , to reflect that any references to shares of common stock are to shares of common stock of republic , and to adjust outstanding awards and the number of shares available under the plan to reflect the allied acquisition . the 2006 plan , as amended and restated , provided for the grant of non- qualified stock options , incentive stock options , shares of restricted stock , shares of phantom stock , stock bonuses , restricted stock units , stock appreciation rights , performance awards , dividend equivalents , cash awards , or other stock-based awards . awards granted under the 2006 plan prior to december 5 , 2008 became fully vested and nonforfeitable upon the closing of the allied acquisition . no further awards will be made under the 2006 stock options we use a lattice binomial option-pricing model to value our stock option grants . we recognize compensation expense on a straight-line basis over the requisite service period for each separately vesting portion of the award , or to the employee 2019s retirement eligible date , if earlier . expected volatility is based on the weighted average of the most recent one year volatility and a historical rolling average volatility of our stock over the expected life of the option . the risk-free interest rate is based on federal reserve rates in effect for bonds with maturity dates equal to the expected term of the option . we use historical data to estimate future option exercises , forfeitures ( at 3.0% ( 3.0 % ) for 2014 and 2013 ) and expected life of the options . when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes . we did not grant stock options during the year ended december 31 , 2015 . the weighted-average estimated fair values of stock options granted during the years ended december 31 , 2014 and 2013 were $ 5.74 and $ 5.27 per option , respectively , which were calculated using the following weighted-average assumptions: .
||2014|2013|
|expected volatility|27.5% ( 27.5 % )|28.9% ( 28.9 % )|
|risk-free interest rate|1.4% ( 1.4 % )|0.7% ( 0.7 % )|
|dividend yield|3.2% ( 3.2 % )|3.2% ( 3.2 % )|
|expected life ( in years )|4.6|4.5|
|contractual life ( in years )|7.0|7.0|
.
Question: what was the percentage change in the weighted-average estimated fair values of stock options granted from 2013 and 2014
Answer: | 0.08918 |
FINQA3187 | Please answer the given financial question based on the context.
Context: estimates of synthetic crude oil reserves are prepared by glj petroleum consultants of calgary , canada , third-party consultants . their reports for all years are filed as exhibits to this annual report on form 10-k . the team lead responsible for the estimates of our osm reserves has 34 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 . the second team member has 13 years of experience in petroleum engineering and has conducted surface mineable oil sands evaluations since 2009 . both are registered practicing professional engineers 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 , 2012 . 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 . in the very limited instances where differences outside the 10 percent tolerance cannot be resolved by year end , a plan to resolve the difference is developed and our senior management is informed . this process did not result in significant changes to our reserve estimates in 2012 or 2011 . there were no third-party audits performed in 2010 . during 2012 , netherland , sewell & associates , inc . ( "nsai" ) prepared a certification of december 31 , 2011 reserves for the alba field in e.g . the nsai summary report is filed as an exhibit to this annual report on form 10-k . members of the nsai team have many years of industry experience , having worked for large , international oil and gas companies before joining nsai . the senior technical advisor has a bachelor of science degree in geophysics and over 15 years of experience in the estimation of and evaluation of reserves . the second member has a bachelor of science degree in chemical engineering and master of business administration along with over 3 years of experience in estimation and evaluation of reserves . both are licensed in the state of texas . ryder scott company ( "ryder scott" ) performed audits of several of our fields in 2012 and 2011 . their summary reports on audits performed in 2012 and 2011 are filed as exhibits 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 where he served on the oil and gas reserves committee and is a registered professional engineer in the state of texas . changes in proved undeveloped reserves as of december 31 , 2012 , 571 mmboe of proved undeveloped reserves were reported , an increase of 176 mmboe from december 31 , 2011 . the following table shows changes in total proved undeveloped reserves for 2012 : ( mmboe ) .
|beginning of year|395|
|revisions of previous estimates|-13 ( 13 )|
|improved recovery|2|
|purchases of reserves in place|56|
|extensions discoveries and other additions|201|
|transfer to proved developed|-70 ( 70 )|
|end of year|571|
significant additions to proved undeveloped reserves during 2012 include 56 mmboe due to acquisitions in the eagle ford shale . development drilling added 124 mmboe in the eagle ford , 35 mmboe in the bakken and 15 mmboe in the oklahoma resource basins shale play . a gas sharing agreement signed with the libyan government in 2012 added 19 mmboe . additionally , 30 mmboe were transferred from proved undeveloped to proved developed reserves in the eagle ford and 14 mmboe in the bakken shale plays due to producing wells . costs incurred in 2012 , 2011 and 2010 relating to the development of proved undeveloped reserves , were $ 1995 million $ 1107 million and $ 1463 million . a total of 27 mmboe was booked as a result of reliable technology . technologies included statistical analysis of production performance , decline curve analysis , rate transient analysis , reservoir simulation and volumetric analysis . the statistical nature of production performance coupled with highly certain reservoir continuity or quality within the reliable technology areas and sufficient proved undeveloped locations establish the reasonable certainty criteria required for booking reserves. .
Question: by how much did undeveloped reserves increase during 2012?
Answer: | 0.44557 |
FINQA3188 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements sumitomo mitsui financial group , inc . ( smfg ) provides the firm with credit loss protection on certain approved loan commitments ( primarily investment-grade commercial lending commitments ) . the notional amount of such loan commitments was $ 29.24 billion and $ 32.41 billion as of december 2013 and december 2012 , respectively . the credit loss protection on loan commitments provided by smfg is generally limited to 95% ( 95 % ) of the first loss the firm realizes on such commitments , up to a maximum of approximately $ 950 million . in addition , subject to the satisfaction of certain conditions , upon the firm 2019s request , smfg will provide protection for 70% ( 70 % ) of additional losses on such commitments , up to a maximum of $ 1.13 billion , of which $ 870 million and $ 300 million of protection had been provided as of december 2013 and december 2012 , respectively . the firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by smfg . these instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity , or credit default swaps that reference a market index . warehouse financing . the firm provides financing to clients who warehouse financial assets . these arrangements are secured by the warehoused assets , primarily consisting of corporate loans and commercial mortgage loans . contingent and forward starting resale and securities borrowing agreements/forward starting repurchase and secured lending agreements the firm enters into resale and securities borrowing agreements and repurchase and secured lending agreements that settle at a future date , generally within three business days . the firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements . the firm 2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused . investment commitments the firm 2019s investment commitments consist of commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages . these commitments include $ 659 million and $ 872 million as of december 2013 and december 2012 , respectively , related to real estate private investments and $ 6.46 billion and $ 6.47 billion as of december 2013 and december 2012 , respectively , related to corporate and other private investments . of these amounts , $ 5.48 billion and $ 6.21 billion as of december 2013 and december 2012 , respectively , relate to commitments to invest in funds managed by the firm . if these commitments are called , they would be funded at market value on the date of investment . leases the firm has contractual obligations under long-term noncancelable lease agreements , principally for office space , expiring on various dates through 2069 . certain agreements are subject to periodic escalation provisions for increases in real estate taxes and other charges . the table below presents future minimum rental payments , net of minimum sublease rentals . in millions december 2013 .
|in millions|as of december 2013|
|2014|$ 387|
|2015|340|
|2016|280|
|2017|271|
|2018|222|
|2019 - thereafter|1195|
|total|$ 2695|
rent charged to operating expense was $ 324 million for 2013 , $ 374 million for 2012 and $ 475 million for 2011 . operating leases include office space held in excess of current requirements . rent expense relating to space held for growth is included in 201coccupancy . 201d the firm records a liability , based on the fair value of the remaining lease rentals reduced by any potential or existing sublease rentals , for leases where the firm has ceased using the space and management has concluded that the firm will not derive any future economic benefits . costs to terminate a lease before the end of its term are recognized and measured at fair value on termination . contingencies legal proceedings . see note 27 for information about legal proceedings , including certain mortgage-related matters . certain mortgage-related contingencies . there are multiple areas of focus by regulators , governmental agencies and others within the mortgage market that may impact originators , issuers , servicers and investors . there remains significant uncertainty surrounding the nature and extent of any potential exposure for participants in this market . 182 goldman sachs 2013 annual report .
Question: what was total rent charged to operating expense in millions for 2013 , 2012 and 2011?
Answer: | 1173.0 |
FINQA3189 | 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 portion of the total accumulated other comprehensive losses is incurred by the currency translation adjustments in 2014?
Answer: | 0.57559 |
FINQA3190 | Please answer the given financial question based on the context.
Context: shareholder return performance the line graph below compares the annual percentage change in ball corporation fffds cumulative total shareholder return on its common stock with the cumulative total return of the dow jones containers & packaging index and the s&p composite 500 stock index for the five-year period ended december 31 , 2011 . it assumes $ 100 was invested on december 31 , 2006 , and that all dividends were reinvested . the dow jones containers & packaging index total return has been weighted by market capitalization . total return to stockholders ( assumes $ 100 investment on 12/31/06 ) total return analysis .
||12/31/2006|12/31/2007|12/31/2008|12/31/2009|12/31/2010|12/31/2011|
|ball corporation|$ 100.00|$ 104.05|$ 97.04|$ 121.73|$ 161.39|$ 170.70|
|dj us containers & packaging|$ 100.00|$ 106.73|$ 66.91|$ 93.98|$ 110.23|$ 110.39|
|s&p 500|$ 100.00|$ 105.49|$ 66.46|$ 84.05|$ 96.71|$ 98.75|
copyright a9 2012 standard & poor fffds , a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) copyright a9 2012 dow jones & company . all rights reserved. .
Question: what is the roi of an investment in ball corporation from 2006 to 2008?
Answer: | -0.0296 |
FINQA3191 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis institutional client services our institutional client services segment is comprised of : fixed income , currency and commodities client execution . includes client execution activities related to making markets in interest rate products , credit products , mortgages , currencies and commodities . 2030 interest rate products . government bonds , money market instruments such as commercial paper , treasury bills , repurchase agreements and other highly liquid securities and instruments , as well as interest rate swaps , options and other derivatives . 2030 credit products . investment-grade corporate securities , high-yield securities , credit derivatives , bank and bridge loans , municipal securities , emerging market and distressed debt , and trade claims . 2030 mortgages . commercial mortgage-related securities , loans and derivatives , residential mortgage-related securities , loans and derivatives ( including u.s . government agency-issued collateralized mortgage obligations , other prime , subprime and alt-a securities and loans ) , and other asset-backed securities , loans and derivatives . 2030 currencies . most currencies , including growth-market currencies . 2030 commodities . crude oil and petroleum products , natural gas , base , precious and other metals , electricity , coal , agricultural and other commodity products . equities . includes client execution activities related to making markets in equity products and commissions and fees from executing and clearing institutional client transactions on major stock , options and futures exchanges worldwide , as well as otc transactions . equities also includes our securities services business , which provides financing , securities lending and other prime brokerage services to institutional clients , including hedge funds , mutual funds , pension funds and foundations , and generates revenues primarily in the form of interest rate spreads or fees . the table below presents the operating results of our institutional client services segment. .
|$ in millions|year ended december 2014|year ended december 2013|year ended december 2012|
|fixed income currency and commodities client execution|$ 8461|$ 8651|$ 9914|
|equities client execution1|2079|2594|3171|
|commissions and fees|3153|3103|3053|
|securities services|1504|1373|1986|
|total equities|6736|7070|8210|
|total net revenues|15197|15721|18124|
|operating expenses|10880|11792|12490|
|pre-tax earnings|$ 4317|$ 3929|$ 5634|
1 . net revenues related to the americas reinsurance business were $ 317 million for 2013 and $ 1.08 billion for 2012 . in april 2013 , we completed the sale of a majority stake in our americas reinsurance business and no longer consolidate this business . 42 goldman sachs 2014 annual report .
Question: what was the percentage change in pre-tax earnings for the institutional client services segment between 2012 and 2013?
Answer: | -0.30263 |
FINQA3192 | Please answer the given financial question based on the context.
Context: item 1b . unresolved staff comments . item 2 . properties . 3m 2019s general offices , corporate research laboratories , and certain division laboratories are located in st . paul , minnesota . in the united states , 3m has nine sales offices in eight states and operates 74 manufacturing facilities in 27 states . internationally , 3m has 148 sales offices . the company operates 93 manufacturing and converting facilities in 32 countries outside the united states . 3m owns substantially all of its physical properties . 3m 2019s physical facilities are highly suitable for the purposes for which they were designed . because 3m is a global enterprise characterized by substantial intersegment cooperation , properties are often used by multiple business segments . item 3 . legal proceedings . discussion of legal matters is incorporated by reference from part ii , item 8 , note 13 , 201ccommitments and contingencies , 201d of this document , and should be considered an integral part of part i , item 3 , 201clegal proceedings . 201d item 4 . submission of matters to a vote of security holders . none in the quarter ended december 31 , 2007 . part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities . equity compensation plans 2019 information is incorporated by reference from part iii , item 12 , 201csecurity ownership of certain beneficial owners and management and related stockholder matters , 201d of this document , and should be considered an integral part of item 5 . at january 31 , 2008 , there were approximately 121302 shareholders of record . 3m 2019s stock is listed on the new york stock exchange , inc . ( nyse ) , the chicago stock exchange , inc. , and the swx swiss exchange . cash dividends declared and paid totaled $ .48 per share for each quarter of 2007 , and $ .46 per share for each quarter of 2006 . stock price comparisons follow : stock price comparisons ( nyse composite transactions ) ( per share amounts ) quarter second quarter quarter fourth quarter year .
|( per share amounts )|first quarter|second quarter|third quarter|fourth quarter|year|
|2007 high|$ 79.88|$ 89.03|$ 93.98|$ 97.00|$ 97.00|
|2007 low|72.90|75.91|83.21|78.98|72.90|
|2006 high|$ 79.83|$ 88.35|$ 81.60|$ 81.95|$ 88.35|
|2006 low|70.30|75.76|67.05|73.00|67.05|
issuer purchases of equity securities repurchases of common stock are made to support the company 2019s stock-based employee compensation plans and for other corporate purposes . on february 13 , 2006 , the board of directors authorized the purchase of $ 2.0 billion of the company 2019s common stock between february 13 , 2006 and february 28 , 2007 . in august 2006 , 3m 2019s board of directors authorized the repurchase of an additional $ 1.0 billion in share repurchases , raising the total authorization to $ 3.0 billion for the period from february 13 , 2006 to february 28 , 2007 . in february 2007 , 3m 2019s board of directors authorized a two- year share repurchase of up to $ 7.0 billion for the period from february 12 , 2007 to february 28 , 2009. .
Question: in 2006 what was the total amount authorized by the board of directors authorized for the repurchase of shares in billions
Answer: | 3.0 |
FINQA3193 | 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 ) 3 . business combinations fiscal 2008 acquisitions : acquisition of third wave technologies , inc . on july 24 , 2008 the company completed its acquisition of third wave technologies , inc . ( 201cthird wave 201d ) pursuant to a definitive agreement dated june 8 , 2008 . the company has concluded that the acquisition of third wave does not represent a material business combination and therefore no pro forma financial information has been provided herein . subsequent to the acquisition date , the company 2019s results of operations include the results of third wave , which has been reported as a component of the company 2019s diagnostics reporting segment . third wave , located in madison , wisconsin , develops and markets molecular diagnostic reagents for a wide variety of dna and rna analysis applications based on its proprietary invader chemistry . third wave 2019s current clinical diagnostic offerings consist of products for conditions such as cystic fibrosis , hepatitis c , cardiovascular risk and other diseases . third wave recently submitted to the u.s . food and drug administration ( 201cfda 201d ) pre-market approval ( 201cpma 201d ) applications for two human papillomavirus ( 201chpv 201d ) tests . the company paid $ 11.25 per share of third wave , for an aggregate purchase price of approximately $ 591200 ( subject to adjustment ) consisting of approximately $ 575400 in cash in exchange for stock and warrants ; approximately 668 of fully vested stock options granted to third wave employees in exchange for their vested third wave stock options , with an estimated fair value of approximately $ 8100 ; and approximately $ 7700 for acquisition related fees and expenses . there are no potential contingent consideration arrangements payable to the former shareholders in connection with this transaction . additionally , the company granted approximately 315 unvested stock options in exchange for unvested third wave stock options , with an estimated fair value of approximately $ 5100 , which will be recognized as compensation expense over the vesting period . the company determined the fair value of the options 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 201d ) . the company determined the measurement date to be july 24 , 2008 , the date the transaction was completed , as the number of shares to be issued according to the exchange ratio was not fixed until this date . the company valued the securities based on the average market price for two days before the measurement date and the measurement date itself . the weighted average stock price was determined to be approximately $ 23.54 . the preliminary purchase price is as follows: .
|cash portion of consideration|$ 575400|
|fair value of vested options exchanged|8100|
|direct acquisition costs|7700|
|total estimated purchase price|$ 591200|
.
Question: what portion of the estimated purchase price is paid in cash?
Answer: | 0.97327 |
FINQA3194 | Please answer the given financial question based on the context.
Context: improvements are amortized using the straight-line method over the lesser of the remaining respective lease term or estimated useful lives ranging from 1 to 15 years . goodwill , purchased intangibles and other long-lived assets we review our goodwill for impairment annually , or more frequently , if facts and circumstances warrant a review . we completed our annual impairment test in the second quarter of fiscal 2011 and determined that there was no impairment . in the fourth quarter of fiscal 2011 , we announced changes to our business strategy which resulted in a reduction of forecasted revenue for certain of our products . we performed an update to our goodwill impairment test for the enterprise reporting unit and determined there was no impairment . goodwill is assigned to one or more reporting segments on the date of acquisition . we evaluate goodwill for impairment by comparing the fair value of each of our reporting segments to its carrying value , including the associated goodwill . to determine the fair values , we use the market approach based on comparable publicly traded companies in similar lines of businesses and the income approach based on estimated discounted future cash flows . our cash flow assumptions consider historical and forecasted revenue , operating costs and other relevant factors . we amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists . we continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets , including our intangible assets may not be recoverable . when such events or changes in circumstances occur , we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows . if the future undiscounted cash flows are less than the carrying amount of these assets , we recognize an impairment loss based on any excess of the carrying amount over the fair value of the assets . we did not recognize any intangible asset impairment charges in fiscal 2011 , 2010 or 2009 . our intangible assets are amortized over their estimated useful lives of 1 to 13 years . amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed . the weighted average useful lives of our intangibles assets was as follows: .
||weighted averageuseful life ( years )|
|purchased technology|6|
|customer contracts and relationships|10|
|trademarks|7|
|acquired rights to use technology|9|
|localization|1|
|other intangibles|3|
weighted average useful life ( years ) software development costs capitalization of software development costs for software to be sold , leased , or otherwise marketed begins upon the establishment of technological feasibility , which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate . amortization begins once the software is ready for its intended use , generally based on the pattern in which the economic benefits will be consumed . to date , software development costs incurred between completion of a working prototype and general availability of the related product have not been material . internal use software we capitalize costs associated with customized internal-use software systems that have reached the application development stage . such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related expenses for employees , who are directly associated with the development of the applications . capitalization of such costs begins when the preliminary project stage is complete and ceases at the point in which the project is substantially complete and is ready for its intended purpose . table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .
Question: what is the average yearly amortization rate related to purchased technology?
Answer: | 16.66667 |
FINQA3195 | Please answer the given financial question based on the context.
Context: 4 . business restructuring and cost reduction actions the charges we record for business restructuring and cost reduction actions have been excluded from segment operating income and are reflected on the consolidated income statements as 201cbusiness restructuring and cost reduction actions . 201d 2014 charge on 18 september 2014 , we announced plans to reorganize the company , including realignment of our businesses in new reporting segments and organizational changes , effective as of 1 october 2014 . refer to note 25 , business segment and geographic information , for additional details . as a result of this initiative , we will incur ongoing severance and other charges . during the fourth quarter of 2014 , an expense of $ 12.7 ( $ 8.2 after-tax , or $ .04 per share ) was incurred relating to the elimination of approximately 50 positions . the 2014 charge related to the businesses at the segment level as follows : $ 4.4 in merchant gases , $ 4.1 in tonnage gases , $ 2.4 in electronics and performance materials , and $ 1.8 in equipment and energy . 2013 plan during the fourth quarter of 2013 , we recorded an expense of $ 231.6 ( $ 157.9 after-tax , or $ .74 per share ) reflecting actions to better align our cost structure with current market conditions . the asset and contract actions primarily impacted the electronics business due to continued weakness in the photovoltaic ( pv ) and light-emitting diode ( led ) markets . the severance and other contractual benefits primarily impacted our merchant gases business and corporate functions in response to weaker than expected business conditions in europe and asia , reorganization of our operations and functional areas , and previously announced senior executive changes . the remaining planned actions associated with severance were completed in the first quarter of 2015 . the 2013 charges relate to the businesses at the segment level as follows : $ 61.0 in merchant gases , $ 28.6 in tonnage gases , $ 141.0 in electronics and performance materials , and $ 1.0 in equipment and energy . the following table summarizes the carrying amount of the accrual for the 2013 plan at 30 september 2014 : severance and other benefits actions contract actions/other total .
||severance and other benefits|asset actions|contract actions/other|total|
|2013 charge|$ 71.9|$ 100.4|$ 59.3|$ 231.6|
|amount reflected in pension liability|-6.9 ( 6.9 )|2014|2014|-6.9 ( 6.9 )|
|noncash expenses|2014|-100.4 ( 100.4 )|2014|-100.4 ( 100.4 )|
|cash expenditures|-3.0 ( 3.0 )|2014|-58.5 ( 58.5 )|-61.5 ( 61.5 )|
|currency translation adjustment|.4|2014|2014|.4|
|30 september 2013|$ 62.4|$ 2014|$ .8|$ 63.2|
|cash expenditures|-51.7 ( 51.7 )|2014|-.8 ( .8 )|-52.5 ( 52.5 )|
|currency translation adjustment|-.6 ( .6 )|2014|2014|-.6 ( .6 )|
|30 september 2014|$ 10.1|$ 2014|$ 2014|$ 10.1|
.
Question: considering the expenses of the 2013 charge , what were the impact of the severance and other benefits on the total value?
Answer: | 0.31045 |
FINQA3196 | Please answer the given financial question based on the context.
Context: during 2015 , 2014 and 2013 , netherland , sewell & associates , inc . ( "nsai" ) prepared a certification of the prior year's reserves for the alba field in e.g . the nsai summary reports are filed as an exhibit to this annual report on form 10-k . members of the nsai team have multiple years of industry experience , having worked for large , international oil and gas companies before joining nsai . the senior technical advisor has over 35 years of practical experience in petroleum geosciences , with over 15 years experience in the estimation and evaluation of reserves . the second team member has over 10 years of practical experience in petroleum engineering , with over five years experience in the estimation and evaluation of reserves . both are registered professional engineers in the state of texas . ryder scott company ( "ryder scott" ) also performed audits of the prior years' reserves of several of our fields in 2015 , 2014 and 2013 . their summary reports are filed as exhibits 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 is a member of spe , where he served on the oil and gas reserves committee , and is a registered professional engineer in the state of texas . changes in proved undeveloped reserves as of december 31 , 2015 , 603 mmboe of proved undeveloped reserves were reported , a decrease of 125 mmboe from december 31 , 2014 . the following table shows changes in total proved undeveloped reserves for 2015 : ( mmboe ) .
|beginning of year|728|
|revisions of previous estimates|-223 ( 223 )|
|improved recovery|1|
|purchases of reserves in place|1|
|extensions discoveries and other additions|175|
|dispositions|2014|
|transfers to proved developed|-79 ( 79 )|
|end of year|603|
the revisions to previous estimates were largely due to a result of reductions to our capital development program which deferred proved undeveloped reserves beyond the 5-year plan . a total of 139 mmboe was booked as extensions , discoveries or other additions and revisions due to the application of reliable technology . technologies included statistical analysis of production performance , decline curve analysis , pressure and rate transient analysis , reservoir simulation and volumetric analysis . the observed statistical nature of production performance coupled with highly certain reservoir continuity or quality within the reliable technology areas and sufficient proved developed locations establish the reasonable certainty criteria required for booking proved reserves . transfers from proved undeveloped to proved developed reserves included 47 mmboe in the eagle ford , 14 mmboe in the bakken and 5 mmboe in the oklahoma resource basins due to development drilling and completions . costs incurred in 2015 , 2014 and 2013 relating to the development of proved undeveloped reserves were $ 1415 million , $ 3149 million and $ 2536 million . projects can remain in proved undeveloped reserves for extended periods in certain situations such as large development projects which take more than five years to complete , or the timing of when additional gas compression is needed . of the 603 mmboe of proved undeveloped reserves at december 31 , 2015 , 26% ( 26 % ) 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 e.g . that was sanctioned by our board of directors in 2004 . during 2012 , the compression project received the approval of the e.g . government , fabrication of the new platform began in 2013 and installation of the platform at the alba field occurred in january 2016 . commissioning is currently underway , with first production expected by mid-2016 . proved undeveloped reserves for the north gialo development , located in the libyan sahara desert , were booked for the first time in 2010 . this development is being executed by the operator and encompasses a multi-year drilling program including the design , fabrication and installation of extensive liquid handling and gas recycling facilities . anecdotal evidence from similar development projects in the region leads to an expected project execution time frame of more than five years from the time the reserves were initially booked . interruptions associated with the civil and political unrest have also extended the project duration . operations were interrupted in mid-2013 as a result of the shutdown of the es sider crude oil terminal , and although temporarily re-opened during the second half of 2014 , production remains shut-in through early 2016 . the operator is committed to the project 2019s completion and continues to assign resources in order to execute the project . our conversion rate for proved undeveloped reserves to proved developed reserves for 2015 was 11% ( 11 % ) . however , excluding the aforementioned long-term projects in e.g . and libya , our 2015 conversion rate would be 15% ( 15 % ) . furthermore , our .
Question: what were total costs incurred in 2015 , 2014 and 2013 relating to the development of proved undeveloped reserves , in million?
Answer: | 7100.0 |
FINQA3197 | Please answer the given financial question based on the context.
Context: ireland . holdings ireland , everest dublin holdings , ireland re and ireland insurance conduct business in ireland and are subject to taxation in ireland . aavailable information . the company 2019s annual reports on form 10-k , quarterly reports on form 10-q , current reports on form 8-k , proxy statements and amendments to those reports are available free of charge through the company 2019s internet website at http://www.everestre.com as soon as reasonably practicable after such reports are electronically filed with the securities and exchange commission ( the 201csec 201d ) . item 1a . risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities . if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly . risks relating to our business fluctuations in the financial markets could result in investment losses . prolonged and severe disruptions in the overall public and private debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio . although financial markets have significantly improved since 2008 , they could deteriorate in the future . there could also be disruption in individual market sectors , such as occurred in the energy sector in recent years . such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings . our results could be adversely affected by catastrophic events . we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism . any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations . by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of reinsurance , were as follows: .
|calendar year:|pre-tax catastrophe losses|
|( dollars in millions )||
|2018|$ 1800.2|
|2017|1472.6|
|2016|301.2|
|2015|53.8|
|2014|56.3|
our losses from future catastrophic events could exceed our projections . we use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic underwriting tool . we use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the placement of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area . these loss projections are approximations , reliant on a mix of quantitative and qualitative processes , and actual losses may exceed the projections by a material amount , resulting in a material adverse effect on our financial condition and results of operations. .
Question: what is the percentage change in pre-tax catastrophe losses in 2018 compare to 2017?
Answer: | 0.22246 |
FINQA3198 | Please answer the given financial question based on the context.
Context: stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , news corporation class a common stock , scripps network interactive , inc. , time warner , inc. , viacom , inc . class b common stock and the walt disney company . the graph assumes $ 100 originally invested on september 18 , 2008 , the date upon which our common stock began trading , in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the period september 18 , 2008 through december 31 , 2008 and the years ended december 31 , 2009 , 2010 , 2011 , and 2012 . december 31 , december 31 , december 31 , december 31 , december 31 .
||december 312008|december 312009|december 312010|december 312011|december 312012|
|disca|$ 102.53|$ 222.09|$ 301.96|$ 296.67|$ 459.67|
|discb|$ 78.53|$ 162.82|$ 225.95|$ 217.56|$ 327.11|
|disck|$ 83.69|$ 165.75|$ 229.31|$ 235.63|$ 365.63|
|s&p 500|$ 74.86|$ 92.42|$ 104.24|$ 104.23|$ 118.21|
|peer group|$ 68.79|$ 100.70|$ 121.35|$ 138.19|$ 190.58|
equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2013 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference. .
Question: what was the percentage cumulative total shareholder return on disca common stock from september 18 , 2008 to december 31 , 2012?
Answer: | 3.5967 |
FINQA3199 | Please answer the given financial question based on the context.
Context: intel corporation notes to consolidated financial statements ( continued ) note 16 : other comprehensive income ( loss ) the changes in accumulated other comprehensive income ( loss ) by component and related tax effects for each period were as follows : ( in millions ) unrealized holding ( losses ) on available- for-sale investments deferred tax asset valuation allowance unrealized holding ( losses ) on derivatives service credits ( costs ) actuarial ( losses ) foreign currency translation adjustment total .
|( in millions )|unrealized holding gains ( losses ) on available-for-sale investments|deferred tax asset valuation allowance|unrealized holding gains ( losses ) on derivatives|prior service credits ( costs )|actuarial gains ( losses )|foreign currency translation adjustment|total|
|december 27 2014|$ 2459|$ 26|$ -423 ( 423 )|$ -47 ( 47 )|$ -1004 ( 1004 )|$ -345 ( 345 )|$ 666|
|other comprehensive income ( loss ) before reclassifications|-999 ( 999 )|2014|-298 ( 298 )|-2 ( 2 )|73|-187 ( 187 )|-1413 ( 1413 )|
|amounts reclassified out of accumulated other comprehensive income ( loss )|-93 ( 93 )|2014|522|10|67|2014|506|
|tax effects|382|-18 ( 18 )|-67 ( 67 )|-1 ( 1 )|-12 ( 12 )|17|301|
|other comprehensive income ( loss )|-710 ( 710 )|-18 ( 18 )|157|7|128|-170 ( 170 )|-606 ( 606 )|
|december 26 2015|1749|8|-266 ( 266 )|-40 ( 40 )|-876 ( 876 )|-515 ( 515 )|60|
|other comprehensive income ( loss ) before reclassifications|1170|2014|-26 ( 26 )|2014|-680 ( 680 )|-4 ( 4 )|460|
|amounts reclassified out of accumulated other comprehensive income ( loss )|-530 ( 530 )|2014|38|2014|170|2014|-322 ( 322 )|
|tax effects|-225 ( 225 )|-8 ( 8 )|-5 ( 5 )|2014|146|2014|-92 ( 92 )|
|other comprehensive income ( loss )|415|-8 ( 8 )|7|2014|-364 ( 364 )|-4 ( 4 )|46|
|december 31 2016|$ 2164|$ 2014|$ -259 ( 259 )|$ -40 ( 40 )|$ -1240 ( 1240 )|$ -519 ( 519 )|$ 106|
.
Question: what is the net change in accumulated other comprehensive income during 2016?
Answer: | 46.0 |
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