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FINQA3200 | 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 was the percent of the derivative receivables total exposure net of all collateral that was a+/a1 to a-/a3
Answer: | 0.19843 |
FINQA3201 | Please answer the given financial question based on the context.
Context: until the hedged transaction is recognized in earnings . changes in the fair value of the derivatives that are attributable to the ineffective portion of the hedges , or of derivatives that are not considered to be highly effective hedges , if any , are immediately recognized in earnings . the aggregate notional amount of our outstanding foreign currency hedges at december 31 , 2012 and 2011 was $ 1.3 billion and $ 1.7 billion . the aggregate notional amount of our outstanding interest rate swaps at december 31 , 2012 and 2011 was $ 503 million and $ 450 million . derivative instruments did not have a material impact on net earnings and comprehensive income during 2012 , 2011 , and 2010 . substantially all of our derivatives are designated for hedge accounting . see note 15 for more information on the fair value measurements related to our derivative instruments . stock-based compensation 2013 compensation cost related to all share-based payments including stock options and restricted stock units is measured at the grant date based on the estimated fair value of the award . we generally recognize the compensation cost ratably over a three-year vesting period . income taxes 2013 we periodically assess our tax filing exposures related to periods that are open to examination . based on the latest available information , we evaluate our tax positions to determine whether the position will more likely than not be sustained upon examination by the internal revenue service ( irs ) . if we cannot reach a more-likely-than-not determination , no benefit is recorded . if we determine that the tax position is more likely than not to be sustained , we record the largest amount of benefit that is more likely than not to be realized when the tax position is settled . we record interest and penalties related to income taxes as a component of income tax expense on our statements of earnings . interest and penalties are not material . accumulated other comprehensive loss 2013 changes in the balance of accumulated other comprehensive loss , net of income taxes , consisted of the following ( in millions ) : postretirement benefit plan adjustments other , net accumulated comprehensive .
||postretirement benefit plan adjustments|other net|accumulated other comprehensive loss|
|balance at january 1 2010|$ -8564 ( 8564 )|$ -31 ( 31 )|$ -8595 ( 8595 )|
|other comprehensive ( loss ) income|-430 ( 430 )|15|-415 ( 415 )|
|balance at december 31 2010|-8994 ( 8994 )|-16 ( 16 )|-9010 ( 9010 )|
|other comprehensive loss|-2192 ( 2192 )|-55 ( 55 )|-2247 ( 2247 )|
|balance at december 31 2011|-11186 ( 11186 )|-71 ( 71 )|-11257 ( 11257 )|
|other comprehensive ( loss ) income|-2346 ( 2346 )|110|-2236 ( 2236 )|
|balance at december 31 2012|$ -13532 ( 13532 )|$ 39|$ -13493 ( 13493 )|
the postretirement benefit plan adjustments are shown net of tax benefits at december 31 , 2012 , 2011 , and 2010 of $ 7.4 billion , $ 6.1 billion , and $ 4.9 billion . these tax benefits include amounts recognized on our income tax returns as current deductions and deferred income taxes , which will be recognized on our tax returns in future years . see note 7 and note 9 for more information on our income taxes and postretirement plans . recent accounting pronouncements 2013 effective january 1 , 2012 , we retrospectively adopted new guidance issued by the financial accounting standards board by presenting total comprehensive income and the components of net income and other comprehensive loss in two separate but consecutive statements . the adoption of this guidance resulted only in a change in how we present other comprehensive loss in our consolidated financial statements and did not have any impact on our results of operations , financial position , or cash flows. .
Question: what is the percentage change in aggregate notional amount of outstanding interest rate swaps from 2011 to 2012?
Answer: | 0.11778 |
FINQA3202 | 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: | 19.0 |
FINQA3203 | Please answer the given financial question based on the context.
Context: the following table illustrates the effect that a 10% ( 10 % ) unfavorable or favorable movement in foreign currency exchange rates , relative to the u.s . dollar , would have on the fair value of our forward exchange contracts as of october 30 , 2010 and october 31 , 2009: .
||october 30 2010|october 31 2009|
|fair value of forward exchange contracts asset|$ 7256|$ 8367|
|fair value of forward exchange contracts after a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates asset|$ 22062|$ 20132|
|fair value of forward exchange contracts after a 10% ( 10 % ) favorable movement in foreign currency exchange rates liability|$ -7396 ( 7396 )|$ -6781 ( 6781 )|
fair value of forward exchange contracts after a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates asset . . . . . . . . . . . . . . . . . $ 22062 $ 20132 fair value of forward exchange contracts after a 10% ( 10 % ) favorable movement in foreign currency exchange rates liability . . . . . . . . . . . . . . . . . . . . . . . $ ( 7396 ) $ ( 6781 ) the calculation assumes that each exchange rate would change in the same direction relative to the u.s . dollar . in addition to the direct effects of changes in exchange rates , such changes typically affect the volume of sales or the foreign currency sales price as competitors 2019 products become more or less attractive . our sensitivity analysis of the effects of changes in foreign currency exchange rates does not factor in a potential change in sales levels or local currency selling prices. .
Question: what is the growth rate in the fair value of forward exchange contracts after a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates asset from 2009 to 2010?
Answer: | 0.09587 |
FINQA3204 | Please answer the given financial question based on the context.
Context: federal realty investment trust schedule iii summary of real estate and accumulated depreciation - continued three years ended december 31 , 2011 reconciliation of accumulated depreciation and amortization ( in thousands ) balance , december 31 , 2008................................................................................................................................... . additions during period 2014depreciation and amortization expense .................................................................... . deductions during period 2014disposition and retirements of property ................................................................. . balance , december 31 , 2009................................................................................................................................... . additions during period 2014depreciation and amortization expense .................................................................... . deductions during period 2014disposition and retirements of property ................................................................. . balance , december 31 , 2010................................................................................................................................... . additions during period 2014depreciation and amortization expense .................................................................... . deductions during period 2014disposition and retirements of property ................................................................. . balance , december 31 , 2011................................................................................................................................... . $ 846258 103698 ( 11869 ) 938087 108261 ( 11144 ) 1035204 114180 ( 21796 ) $ 1127588 .
|balance december 31 2008|$ 846258|
|additions during period 2014depreciation and amortization expense|103698|
|deductions during period 2014disposition and retirements of property|-11869 ( 11869 )|
|balance december 31 2009|938087|
|additions during period 2014depreciation and amortization expense|108261|
|deductions during period 2014disposition and retirements of property|-11144 ( 11144 )|
|balance december 31 2010|1035204|
|additions during period 2014depreciation and amortization expense|114180|
|deductions during period 2014disposition and retirements of property|-21796 ( 21796 )|
|balance december 31 2011|$ 1127588|
federal realty investment trust schedule iii summary of real estate and accumulated depreciation - continued three years ended december 31 , 2011 reconciliation of accumulated depreciation and amortization ( in thousands ) balance , december 31 , 2008................................................................................................................................... . additions during period 2014depreciation and amortization expense .................................................................... . deductions during period 2014disposition and retirements of property ................................................................. . balance , december 31 , 2009................................................................................................................................... . additions during period 2014depreciation and amortization expense .................................................................... . deductions during period 2014disposition and retirements of property ................................................................. . balance , december 31 , 2010................................................................................................................................... . additions during period 2014depreciation and amortization expense .................................................................... . deductions during period 2014disposition and retirements of property ................................................................. . balance , december 31 , 2011................................................................................................................................... . $ 846258 103698 ( 11869 ) 938087 108261 ( 11144 ) 1035204 114180 ( 21796 ) $ 1127588 .
Question: what is the percentual growth of the depreciation and amortization expenses during 2008 and 2009?
Answer: | 0.044 |
FINQA3205 | Please answer the given financial question based on the context.
Context: as of december 31 , 2006 , the company also leased an office and laboratory facility in connecticut , additional office , distribution and storage facilities in san diego , and four foreign facilities located in japan , singapore , china and the netherlands under non-cancelable operating leases that expire at various times through june 2011 . these leases contain renewal options ranging from one to five years . as of december 31 , 2006 , annual future minimum payments under these operating leases were as follows ( in thousands ) : .
|2007|5320|
|2008|5335|
|2009|5075|
|2010|4659|
|2011|4712|
|2012 and thereafter|12798|
|total|$ 37899|
rent expense , net of amortization of the deferred gain on sale of property , was $ 4723041 , $ 4737218 , and $ 1794234 for the years ended december 31 , 2006 , january 1 , 2006 and january 2 , 2005 , respectively . 6 . stockholders 2019 equity common stock as of december 31 , 2006 , the company had 46857512 shares of common stock outstanding , of which 4814744 shares were sold to employees and consultants subject to restricted stock agreements . the restricted common shares vest in accordance with the provisions of the agreements , generally over five years . all unvested shares are subject to repurchase by the company at the original purchase price . as of december 31 , 2006 , 36000 shares of common stock were subject to repurchase . in addition , the company also issued 12000 shares for a restricted stock award to an employee under the company 2019s new 2005 stock and incentive plan based on service performance . these shares vest monthly over a three-year period . stock options 2005 stock and incentive plan in june 2005 , the stockholders of the company approved the 2005 stock and incentive plan ( the 2005 stock plan ) . upon adoption of the 2005 stock plan , issuance of options under the company 2019s existing 2000 stock plan ceased . the 2005 stock plan provides that an aggregate of up to 11542358 shares of the company 2019s common stock be reserved and available to be issued . in addition , the 2005 stock plan provides for an automatic annual increase in the shares reserved for issuance by the lesser of 5% ( 5 % ) of outstanding shares of the company 2019s common stock on the last day of the immediately preceding fiscal year , 1200000 shares or such lesser amount as determined by the company 2019s board of directors . illumina , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what percentage of annual future minimum payments under operating leases are due in 2007?
Answer: | 0.14037 |
FINQA3206 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries notes to financial statements the ferc proceedings that resulted from rate filings made in 2007 , 2008 , and 2009 have been resolved by various orders issued by the ferc and appellate courts . see below for a discussion of rate filings since 2009 and the comprehensive recalculation filing directed by the ferc in the proceeding related to the 2010 rate filing . 2010 rate filing based on calendar year 2009 production costs in may 2010 , entergy filed with the ferc the 2010 rates in accordance with the ferc 2019s orders in the system agreement proceeding , and supplemented the filing in september 2010 . several parties intervened in the proceeding at the ferc , including the lpsc and the city council , which also filed protests . in july 2010 the ferc accepted entergy 2019s proposed rates for filing , effective june 1 , 2010 , subject to refund , and set the proceeding for hearing and settlement procedures . settlement procedures have been terminated , and the alj scheduled hearings to begin in march 2011 . subsequently , in january 2011 the alj issued an order directing the parties and ferc staff to show cause why this proceeding should not be stayed pending the issuance of ferc decisions in the prior production cost proceedings currently before the ferc on review . in march 2011 the alj issued an order placing this proceeding in abeyance . in october 2013 the ferc issued an order granting clarification and denying rehearing with respect to its october 2011 rehearing order in this proceeding . the ferc clarified that in a bandwidth proceeding parties can challenge erroneous inputs , implementation errors , or prudence of cost inputs , but challenges to the bandwidth formula itself must be raised in a federal power act section 206 complaint or section 205 filing . subsequently in october 2013 the presiding alj lifted the stay order holding in abeyance the hearing previously ordered by the ferc and directing that the remaining issues proceed to a hearing on the merits . the hearing was held in march 2014 and the presiding alj issued an initial decision in september 2014 . briefs on exception were filed in october 2014 . in december 2015 the ferc issued an order affirming the initial decision in part and rejecting the initial decision in part . among other things , the december 2015 order directs entergy services to submit a compliance filing , the results of which may affect the rough production cost equalization filings made for the june - december 2005 , 2006 , 2007 , and 2008 test periods . in january 2016 the lpsc , the apsc , and entergy services filed requests for rehearing of the ferc 2019s december 2015 order . in february 2016 , entergy services submitted the compliance filing ordered in the december 2015 order . the result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the utility operating companies : payments ( receipts ) ( in millions ) .
||payments ( receipts ) ( in millions )|
|entergy arkansas|$ 2|
|entergy louisiana|$ 6|
|entergy mississippi|( $ 4 )|
|entergy new orleans|( $ 1 )|
|entergy texas|( $ 3 )|
2011 rate filing based on calendar year 2010 production costs in may 2011 , entergy filed with the ferc the 2011 rates in accordance with the ferc 2019s orders in the system agreement proceeding . several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest . in july 2011 the ferc accepted entergy 2019s proposed rates for filing , effective june 1 , 2011 , subject to refund , set the proceeding for hearing procedures , and then held those procedures in abeyance pending ferc decisions in the prior production cost proceedings currently before the ferc on review . in january 2014 the lpsc filed a petition for a writ of mandamus at the united states court of appeals for the fifth circuit . in its petition , the lpsc requested that the fifth circuit issue an order compelling the ferc to issue a final order in several proceedings related to the system agreement , including the 2011 rate filing based on calendar year 2010 production costs and the 2012 and 2013 rate filings discussed below . in march 2014 the fifth circuit rejected the lpsc 2019s petition for a writ of mandamus . in december 2014 the ferc rescinded its earlier abeyance order and consolidated the 2011 rate filing with the 2012 , 2013 .
Question: what is the difference in payments between entergy louisiana and entergy mississippi , in millions?
Answer: | 10.0 |
FINQA3207 | Please answer the given financial question based on the context.
Context: the following table provides a summary of our historical capital expenditures related to the upgrading of our infrastructure and systems: .
|( in millions )|for the years ended december 31 , 2018|for the years ended december 31 , 2017|for the years ended december 31 , 2016|
|transmission and distribution|$ 572|$ 551|$ 568|
|treatment and pumping|231|171|151|
|services meter and fire hydrants|303|281|297|
|general structure and equipment|371|281|202|
|sources of supply|26|54|59|
|wastewater|83|96|34|
|total capital expenditures|$ 1586|$ 1434|$ 1311|
in 2018 , our capital expenditures increased $ 152 million , or 10.6% ( 10.6 % ) , primarily due to investment across the majority of our infrastructure categories . in 2017 , our capital expenditures increased $ 123 million , or 9.4% ( 9.4 % ) , primarily due to investment in our general structure and equipment and wastewater categories . we also grow our business primarily through acquisitions of water and wastewater systems , as well as other water-related services . these acquisitions are complementary to our existing business and support continued geographical diversification and growth of our operations . generally , acquisitions are funded initially with short- term debt , and later refinanced with the proceeds from long-term debt . the following is a summary of the acquisitions and dispositions affecting our cash flows from investing activities : 2022 the majority of cash paid for acquisitions pertained to the $ 365 million purchase of pivotal within our homeowner services group . 2022 paid $ 33 million for 15 water and wastewater systems , representing approximately 14000 customers . 2022 received $ 35 million for the sale of assets , including $ 27 million for the sale of the majority of the o&m contracts in our contract services group during the third quarter of 2018 . 2022 the majority of cash paid for acquisitions pertained to the $ 159 million purchase of the wastewater collection and treatment system assets of the municipal authority of the city of mckeesport , pennsylvania ( the 201cmckeesport system 201d ) , excluding a $ 5 million non-escrowed deposit made in 2016 . 2022 paid $ 18 million for 16 water and wastewater systems , excluding the mckeesport system and shorelands ( a stock-for-stock transaction ) , representing approximately 7000 customers . 2022 received $ 15 million for the sale of assets . 2022 paid $ 199 million for 15 water and wastewater systems , representing approximately 42000 customers . 2022 made a non-escrowed deposit of $ 5 million related to the mckeesport system acquisition . 2022 received $ 9 million for the sale of assets . as previously noted , we expect to invest between $ 8.0 billion to $ 8.6 billion from 2019 to 2023 , with $ 7.3 billion of this range for infrastructure improvements in our regulated businesses . in 2019 , we expect to .
Question: what percentage of total capital expenditures were related to transmission and distribution in 2018?
Answer: | 0.36066 |
FINQA3208 | Please answer the given financial question based on the context.
Context: contractual cash flows following is a summary of our contractual payment obligations related to our consolidated debt , contingent consideration , operating leases , other commitments and long-term liabilities at september 30 , 2011 ( see notes 9 and 13 to the consolidated financial statements contained this annual report ) , ( in thousands ) : .
|obligation|payments due by period total|payments due by period less than 1year|payments due by period 1-3 years|payments due by period 3-5 years|payments due by period thereafter|
|short-term debt obligations|$ 26677|$ 26677|$ 2014|$ 2014|$ 2014|
|cash premium on convertible notes due march 2012 ( 1 )|23558|23558|2014|2014|2014|
|other commitments ( 2 )|5170|3398|1772|2014|2014|
|operating lease obligations|37788|8247|13819|9780|5942|
|contingent consideration for business combinations ( 3 )|59400|58400|1000|2014|2014|
|other long-term liabilities ( 4 )|34199|2683|769|146|30601|
|total ( 5 )|$ 186792|$ 122963|$ 17360|$ 9926|$ 36543|
( 1 ) cash premiums related to the 201cif converted 201d value of the 2007 convertible notes that exceed aggregate principal balance using the closing stock price of $ 17.96 on september 30 , 2011 . the actual amount of the cash premium will be calculated based on the 20 day average stock price prior to maturity . a $ 1.00 change in our stock price would change the 201cif converted 201d value of the cash premium of the total aggregate principle amount of the remaining convertible notes by approximately $ 2.8 million . ( 2 ) other commitments consist of contractual license and royalty payments , and other purchase obligations . ( 3 ) contingent consideration related to business combinations is recorded at fair value and actual results could differ . ( 4 ) other long-term liabilities includes our gross unrecognized tax benefits , as well as executive deferred compensation which are both classified as beyond five years due to the uncertain nature of the commitment . ( 5 ) amounts do not include potential cash payments for the pending acquisition of aati . critical accounting estimates the discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements , which have been prepared in accordance with gaap . the preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets , liabilities , revenues and expenses , and related disclosure of contingent assets and liabilities . the sec has defined critical accounting policies as those that are both most important to the portrayal of our financial condition and results and which require our most difficult , complex or subjective judgments or estimates . based on this definition , we believe our critical accounting policies include the policies of revenue recognition , allowance for doubtful accounts , inventory valuation , business combinations , valuation of long-lived assets , share-based compensation , income taxes , goodwill and intangibles , and loss contingencies . on an ongoing basis , we evaluate the judgments and estimates underlying all of our accounting policies . these estimates and the underlying assumptions affect the amounts of assets and liabilities reported , disclosures , and reported amounts of revenues and expenses . these estimates and assumptions are based on our best judgments . we evaluate our estimates and assumptions using historical experience and other factors , including the current economic environment , which we believe to be reasonable under the circumstances . we adjust such estimates and assumptions when facts and circumstances dictate . as future events and their effects cannot be determined with precision , actual results could differ significantly from these estimates . page 80 skyworks / annual report 2011 .
Question: what portion of total liabilities is due in less than 1 year?
Answer: | 0.65829 |
FINQA3209 | Please answer the given financial question based on the context.
Context: stock performance graph this performance graph shall not be deemed 201cfiled 201d for purposes of section 18 of the exchange act , or incorporated by reference into any filing of quintiles ims holdings , inc . under the exchange act or under the securities act , except as shall be expressly set forth by specific reference in such filing . the following graph shows a comparison from may 9 , 2013 ( the date our common stock commenced trading on the nyse ) through december 31 , 2016 of the cumulative total return for our common stock , the standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) and a select peer group . the peer group consists of cerner corporation , charles river laboratories , inc. , dun & bradstreet corporation , equifax inc. , icon plc , ihs markit ltd. , inc research holdings , laboratory corporation of america holdings , nielsen n.v. , parexel international corporation , inc. , pra health sciences , inc. , thomson reuters corporation and verisk analytics , inc . the companies in our peer group are publicly traded information services , information technology or contract research companies , and thus share similar business model characteristics to quintilesims , or provide services to similar customers as quintilesims . many of these companies are also used by our compensation committee for purposes of compensation benchmarking . the graph assumes that $ 100 was invested in quintilesims , the s&p 500 and the peer group as of the close of market on may 9 , 2013 , assumes the reinvestments of dividends , if any . the s&p 500 and our peer group are included for comparative purposes only . they do not necessarily reflect management 2019s opinion that the s&p 500 and our peer group are an appropriate measure of the relative performance of the stock involved , and they are not intended to forecast or be indicative of possible future performance of our common stock . s&p 500 quintilesims peer group .
||5/9/2013|12/31/2013|12/31/2014|12/31/2015|12/31/2016|
|q|$ 100|$ 110|$ 140|$ 163|$ 181|
|peer group|$ 100|$ 116|$ 143|$ 151|$ 143|
|s&p 500|$ 100|$ 114|$ 127|$ 126|$ 138|
item 6 . selected financial data we have derived the following consolidated statements of income data for 2016 , 2015 and 2014 and consolidated balance sheet data as of december 31 , 2016 and 2015 from our audited consolidated financial .
Question: what is the return on investment for q if the investment is sold at the end of year 2014?
Answer: | 0.4 |
FINQA3210 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis j.p . morgan chase & co . 26 j.p . morgan chase & co . / 2003 annual report $ 41.7 billion . nii was reduced by a lower volume of commercial loans and lower spreads on investment securities . as a compo- nent of nii , trading-related net interest income of $ 2.1 billion was up 13% ( 13 % ) from 2002 due to a change in the composition of , and growth in , trading assets . the firm 2019s total average interest-earning assets in 2003 were $ 590 billion , up 6% ( 6 % ) from the prior year . the net interest yield on these assets , on a fully taxable-equivalent basis , was 2.10% ( 2.10 % ) , compared with 2.09% ( 2.09 % ) in the prior year . noninterest expense year ended december 31 .
|( in millions )|2003|2002|change|
|compensation expense|$ 11695|$ 10983|6% ( 6 % )|
|occupancy expense|1912|1606|19|
|technology and communications expense|2844|2554|11|
|other expense|5137|5111|1|
|surety settlement and litigation reserve|100|1300|-92 ( 92 )|
|merger and restructuring costs|2014|1210|nm|
|total noninterest expense|$ 21688|$ 22764|( 5 ) % ( % )|
technology and communications expense in 2003 , technology and communications expense was 11% ( 11 % ) above the prior-year level . the increase was primarily due to a shift in expenses : costs that were previously associated with compensation and other expenses shifted , upon the commence- ment of the ibm outsourcing agreement , to technology and communications expense . also contributing to the increase were higher costs related to software amortization . for a further dis- cussion of the ibm outsourcing agreement , see support units and corporate on page 44 of this annual report . other expense other expense in 2003 rose slightly from the prior year , reflecting higher outside services . for a table showing the components of other expense , see note 8 on page 96 of this annual report . surety settlement and litigation reserve the firm added $ 100 million to the enron-related litigation reserve in 2003 to supplement a $ 900 million reserve initially recorded in 2002 . the 2002 reserve was established to cover enron-related matters , as well as certain other material litigation , proceedings and investigations in which the firm is involved . in addition , in 2002 the firm recorded a charge of $ 400 million for the settlement of enron-related surety litigation . merger and restructuring costs merger and restructuring costs related to business restructurings announced after january 1 , 2002 , were recorded in their relevant expense categories . in 2002 , merger and restructuring costs of $ 1.2 billion , for programs announced prior to january 1 , 2002 , were viewed by management as nonoperating expenses or 201cspecial items . 201d refer to note 8 on pages 95 201396 of this annual report for a further discussion of merger and restructuring costs and for a summary , by expense category and business segment , of costs incurred in 2003 and 2002 for programs announced after january 1 , 2002 . provision for credit losses the 2003 provision for credit losses was $ 2.8 billion lower than in 2002 , primarily reflecting continued improvement in the quality of the commercial loan portfolio and a higher volume of credit card securitizations . for further information about the provision for credit losses and the firm 2019s management of credit risk , see the dis- cussions of net charge-offs associated with the commercial and consumer loan portfolios and the allowance for credit losses , on pages 63 201365 of this annual report . income tax expense income tax expense was $ 3.3 billion in 2003 , compared with $ 856 million in 2002 . the effective tax rate in 2003 was 33% ( 33 % ) , compared with 34% ( 34 % ) in 2002 . the tax rate decline was principally attributable to changes in the proportion of income subject to state and local taxes . compensation expense compensation expense in 2003 was 6% ( 6 % ) higher than in the prior year . the increase principally reflected higher performance-related incentives , and higher pension and other postretirement benefit costs , primarily as a result of changes in actuarial assumptions . for a detailed discussion of pension and other postretirement benefit costs , see note 6 on pages 89 201393 of this annual report . the increase pertaining to incentives included $ 266 million as a result of adopting sfas 123 , and $ 120 million from the reversal in 2002 of previously accrued expenses for certain forfeitable key employ- ee stock awards , as discussed in note 7 on pages 93 201395 of this annual report . total compensation expense declined as a result of the transfer , beginning april 1 , 2003 , of 2800 employees to ibm in connection with a technology outsourcing agreement . the total number of full-time equivalent employees at december 31 , 2003 was 93453 compared with 94335 at the prior year-end . occupancy expense occupancy expense of $ 1.9 billion rose 19% ( 19 % ) from 2002 . the increase reflected costs of additional leased space in midtown manhattan and in the south and southwest regions of the united states ; higher real estate taxes in new york city ; and the cost of enhanced safety measures . also contributing to the increase were charges for unoccupied excess real estate of $ 270 million ; this compared with $ 120 million in 2002 , mostly in the third quarter of that year. .
Question: what was the value of the firms interest earning assets in 2002 in millions
Answer: | 983333.33333 |
FINQA3211 | Please answer the given financial question based on the context.
Context: entergy arkansas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 92.9 million primarily due to higher net revenue and lower other operation and maintenance expenses , partially offset by a higher effective income tax rate and higher depreciation and amortization expenses . 2015 compared to 2014 net income decreased $ 47.1 million primarily due to higher other operation and maintenance expenses , partially offset by higher net revenue . net revenue 2016 compared to 2015 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) . following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) .
||amount ( in millions )|
|2015 net revenue|$ 1362.2|
|retail electric price|161.5|
|other|-3.2 ( 3.2 )|
|2016 net revenue|$ 1520.5|
the retail electric price variance is primarily due to an increase in base rates , as approved by the apsc . the new base rates were effective february 24 , 2016 and began billing with the first billing cycle of april 2016 . the increase includes an interim base rate adjustment surcharge , effective with the first billing cycle of april 2016 , to recover the incremental revenue requirement for the period february 24 , 2016 through march 31 , 2016 . a significant portion of the increase is related to the purchase of power block 2 of the union power station . see note 2 to the financial statements for further discussion of the rate case . see note 14 to the financial statements for further discussion of the union power station purchase. .
Question: what was the average trailing two year net revenue amount in 2015?
Answer: | 1441.35 |
FINQA3212 | Please answer the given financial question based on the context.
Context: pre-construction costs , interim dam safety measures and environmental costs and construction costs . the authorized costs were being recovered via a surcharge over a twenty-year period which began in october 2012 . the unrecovered balance of project costs incurred , including cost of capital , net of surcharges totaled $ 85 million and $ 89 million as of december 31 , 2018 and 2017 , respectively . surcharges collected were $ 8 million and $ 7 million for the years ended december 31 , 2018 and 2017 , respectively . pursuant to the general rate case approved in december 2018 , approval was granted to reset the twenty-year amortization period to begin january 1 , 2018 and to establish an annual revenue requirement of $ 8 million to be recovered through base rates . debt expense is amortized over the lives of the respective issues . call premiums on the redemption of long- term debt , as well as unamortized debt expense , are deferred and amortized to the extent they will be recovered through future service rates . purchase premium recoverable through rates is primarily the recovery of the acquisition premiums related to an asset acquisition by the company 2019s utility subsidiary in california during 2002 , and acquisitions in 2007 by the company 2019s utility subsidiary in new jersey . as authorized for recovery by the california and new jersey pucs , these costs are being amortized to depreciation and amortization on the consolidated statements of operations through november 2048 . tank painting costs are generally deferred and amortized to operations and maintenance expense on the consolidated statements of operations on a straight-line basis over periods ranging from five to fifteen years , as authorized by the regulatory authorities in their determination of rates charged for service . as a result of the prepayment by american water capital corp. , the company 2019s wholly owned finance subsidiary ( 201cawcc 201d ) , of the 5.62% ( 5.62 % ) series c senior notes due upon maturity on december 21 , 2018 ( the 201cseries c notes 201d ) , 5.62% ( 5.62 % ) series e senior notes due march 29 , 2019 ( the 201cseries e notes 201d ) and 5.77% ( 5.77 % ) series f senior notes due december 21 , 2022 ( the 201cseries f notes , 201d and together with the series e notes , the 201cseries notes 201d ) , a make-whole premium of $ 10 million was paid to the holders of the series notes on september 11 , 2018 . substantially all of these early debt extinguishment costs were allocable to the company 2019s utility subsidiaries and recorded as regulatory assets , as the company believes they are probable of recovery in future rates . other regulatory assets include certain construction costs for treatment facilities , property tax stabilization , employee-related costs , deferred other postretirement benefit expense , business services project expenses , coastal water project costs , rate case expenditures and environmental remediation costs among others . these costs are deferred because the amounts are being recovered in rates or are probable of recovery through rates in future periods . regulatory liabilities regulatory liabilities generally represent amounts that are probable of being credited or refunded to customers through the rate-making process . also , if costs expected to be incurred in the future are currently being recovered through rates , the company records those expected future costs as regulatory liabilities . the following table provides the composition of regulatory liabilities as of december 31: .
||2018|2017|
|income taxes recovered through rates|$ 1279|$ 1242|
|removal costs recovered through rates|309|315|
|postretirement benefit liability|209|33|
|pension and other postretirement benefit balancing accounts|46|48|
|tcja reserve on revenue|36|2014|
|other|28|26|
|total regulatory liabilities|$ 1907|$ 1664|
.
Question: what were total removal costs recovered through rates in milliions?
Answer: | 624.0 |
FINQA3213 | Please answer the given financial question based on the context.
Context: host hotels & resorts , inc. , host hotels & resorts , l.p. , and subsidiaries notes to consolidated financial statements 1 . summary of significant accounting policies description of business host hotels & resorts , inc . operates as a self-managed and self-administered real estate investment trust , or reit , with its operations conducted solely through host hotels & resorts , l.p . host hotels & resorts , l.p. , a delaware limited partnership , operates through an umbrella partnership structure , with host hotels & resorts , inc. , a maryland corporation , as its sole general partner . in the notes to the consolidated financial statements , we use the terms 201cwe 201d or 201cour 201d to refer to host hotels & resorts , inc . and host hotels & resorts , l.p . together , unless the context indicates otherwise . we also use the term 201chost inc . 201d to refer specifically to host hotels & resorts , inc . and the term 201chost l.p . 201d to refer specifically to host hotels & resorts , l.p . in cases where it is important to distinguish between host inc . and host l.p . host inc . holds approximately 99% ( 99 % ) of host l.p . 2019s partnership interests , or op units . consolidated portfolio as of december 31 , 2018 , the hotels in our consolidated portfolio are in the following countries: .
||hotels|
|united states|88|
|brazil|3|
|canada|2|
|total|93|
basis of presentation and principles of consolidation the accompanying consolidated financial statements include the consolidated accounts of host inc. , host l.p . and their subsidiaries and controlled affiliates , including joint ventures and partnerships . we consolidate subsidiaries when we have the ability to control them . for the majority of our hotel and real estate investments , we consider those control rights to be ( i ) approval or amendment of developments plans , ( ii ) financing decisions , ( iii ) approval or amendments of operating budgets , and ( iv ) investment strategy decisions . we also evaluate our subsidiaries to determine if they are variable interest entities ( 201cvies 201d ) . if a subsidiary is a vie , it is subject to the consolidation framework specifically for vies . typically , the entity that has the power to direct the activities that most significantly impact economic performance consolidates the vie . we consider an entity to be a vie if equity investors own an interest therein that does not have the characteristics of a controlling financial interest or if such investors do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support . we review our subsidiaries and affiliates at least annually to determine if ( i ) they should be considered vies , and ( ii ) whether we should change our consolidation determination based on changes in the characteristics thereof . three partnerships are considered vie 2019s , as the general partner maintains control over the decisions that most significantly impact the partnerships . the first vie is the operating partnership , host l.p. , which is consolidated by host inc. , of which host inc . is the general partner and holds 99% ( 99 % ) of the limited partner interests . host inc . 2019s sole significant asset is its investment in host l.p . and substantially all of host inc . 2019s assets and liabilities represent assets and liabilities of host l.p . all of host inc . 2019s debt is an obligation of host l.p . and may be settled only with assets of host l.p . the consolidated partnership that owns the houston airport marriott at george bush intercontinental , of which we are the general partner and hold 85% ( 85 % ) of the partnership interests , also is a vie . the total assets of this vie at december 31 , 2018 are $ 48 million and consist primarily of cash and .
Question: what percentage of hotel properties are in the united states?
Answer: | 0.94624 |
FINQA3214 | Please answer the given financial question based on the context.
Context: issuer purchases of equity securities period total number of shares ( or units ) purchased average price paid per share ( or unit ) total number of shares ( or units ) purchased as part of publicly announced plans or programs maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs ( in millions ) month #1 ( october 1 , 2014 october 31 , 2005 ) . . . . . . . . . . . . . . 1119600 $ 34.52 1119600 $ 285.3 month #2 ( november 1 , 2014 november 30 , 2005 ) . . . . . . . . . . . . . 738200 36.03 738200 258.7 month #3 ( december 1 , 2014 december 31 , 2005 ) . . . . . . . . . . . . . 1147700 37.06 1147700 216.2 .
|period|( a ) total number of shares ( or units ) purchased|( b ) average price paid per share ( or unit )|( c ) total number of shares ( or units ) purchased as part of publicly announced plans or programs|( d ) maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs ( in millions )|
|month #1 ( october 1 2014 october 31 2005 )|1119600|$ 34.52|1119600|$ 285.3|
|month #2 ( november 1 2014 november 30 2005 )|738200|36.03|738200|258.7|
|month #3 ( december 1 2014 december 31 2005 )|1147700|37.06|1147700|216.2|
|total|3005500|$ 35.86|3005500|$ 216.2|
the share purchases reflected in the table above were made pursuant to our $ 500.0 million repurchase program approved by our board of directors in april 2005 . this share repurchase program does not have an expiration date . no share repurchase program approved by our board of directors has ever expired nor do we expect to terminate any program prior to completion . we intend to make additional share purchases under our existing repurchase program up to an aggregate of $ 216.2 million and under the additional $ 275.0 million program authorized by our board of directors in january 2006. .
Question: what was the percent of the period month #1 ( october 1 2014 october 31 2005 ) as part of the total of total number of shares ( or units ) purchased
Answer: | 0.37252 |
FINQA3215 | Please answer the given financial question based on the context.
Context: 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 16 , 2017 , there were 60763 common shareholders of record . holders of pnc common stock are entitled to receive dividends when declared by the 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 capital and liquidity 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 additional information relating to pnc common stock under the common stock prices/ dividends declared section in the statistical information ( unaudited ) section of item 8 of this report . we include here by reference the information regarding our compensation plans under which pnc equity securities are authorized for issuance as of december 31 , 2016 in the table ( with introductory paragraph and notes ) that appears 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 registered shareholders may contact this phone number 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 2016 are included in the following table : in thousands , except per share data 2016 period total shares purchased ( a ) average paid per total shares purchased as part of publicly announced programs ( b ) maximum number of shares that may yet be purchased under the programs ( b ) .
|2016 period|total sharespurchased ( a )|averagepricepaid pershare|total sharespurchased aspartofpubliclyannouncedprograms ( b )|maximumnumber ofshares thatmay yet bepurchasedundertheprograms ( b )|
|october 1 2013 31|2277|$ 91.15|2245|61962|
|november 1 2013 30|1243|$ 103.50|1243|60719|
|december 1 2013 31|1449|$ 115.65|1449|59270|
|total|4969|$ 101.39|||
( 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 the establishment of 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 2016 , we announced share repurchase programs of up to $ 2.0 billion for the four quarter period beginning with the third quarter of 2016 , including repurchases of up to $ 200 million related to employee benefit plans . in january 2017 , we announced a $ 300 million increase in our share repurchase programs for this period . in the fourth quarter of 2016 , we repurchased 4.9 million shares of common stock on the open market , with an average price of $ 101.47 per share and an aggregate repurchase price of $ .5 billion . see the liquidity and capital management portion of the risk management section in item 7 of this report for more information on the share repurchase programs under the share repurchase authorization for the period july 1 , 2016 through june 30 , 2017 included in the 2016 capital plan accepted by the federal reserve . 28 the pnc financial services group , inc . 2013 form 10-k .
Question: for the period october 1 2013 31 , total shares purchased as part of publicly announced programs were what percent of total shares purchased?
Answer: | 0.98595 |
FINQA3216 | Please answer the given financial question based on the context.
Context: notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d . 1 . nature of operations and significant accounting policies operations and segmentation 2013 we are a class i railroad that operates in the united states . we have 32012 route miles , linking pacific coast and gulf coast ports with the midwest and eastern united states gateways and providing several corridors to key mexican gateways . we serve the western two- thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico . export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders . the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment . although revenues are analyzed by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network . the following table provides revenue by commodity group : millions of dollars 2008 2007 2006 .
|millions of dollars|2008|2007|2006|
|agricultural|$ 3174|$ 2605|$ 2385|
|automotive|1344|1458|1427|
|chemicals|2494|2287|2084|
|energy|3810|3134|2949|
|industrial products|3273|3077|3135|
|intermodal|3023|2925|2811|
|total freight revenues|$ 17118|$ 15486|$ 14791|
|other revenues|852|797|787|
|total operating revenues|$ 17970|$ 16283|$ 15578|
basis of presentation 2013 certain prior year amounts have been reclassified to conform to the current period financial statement presentation . the reclassifications include reporting freight revenues instead of commodity revenues . the amounts reclassified from freight revenues to other revenues totaled $ 30 million and $ 71 million for the years ended december 31 , 2007 , and december 31 , 2006 , respectively . in addition , we modified our operating expense categories to report fuel used in railroad operations as a stand-alone category , to combine purchased services and materials into one line , and to reclassify certain other expenses among operating expense categories . these reclassifications had no impact on previously reported operating revenues , total operating expenses , operating income or net income . significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries . investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting . all significant intercompany transactions are eliminated . the corporation evaluates its less than majority-owned investments for consolidation .
Question: in 2006 what was the percent of other revenues re-classed from freight
Answer: | 0.09022 |
FINQA3217 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis we believe our credit ratings are primarily based on the credit rating agencies 2019 assessment of : 2030 our liquidity , market , credit and operational risk management practices ; 2030 the level and variability of our earnings ; 2030 our capital base ; 2030 our franchise , reputation and management ; 2030 our corporate governance ; and 2030 the external operating environment , including , in some cases , the assumed level of government or other systemic support . certain of our derivatives have been transacted under bilateral agreements with counterparties who may require us to post collateral or terminate the transactions based on changes in our credit ratings . we assess the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies . a downgrade by any one rating agency , depending on the agency 2019s relative ratings of us at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies . we allocate a portion of our gcla to ensure we would be able to make the additional collateral or termination payments that may be required in the event of a two-notch reduction in our long-term credit ratings , as well as collateral that has not been called by counterparties , but is available to them . the table below presents the additional collateral or termination payments related to our net derivative liabilities under bilateral agreements that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in our credit ratings. .
|$ in millions|as of december 2014|as of december 2013|
|additional collateral or termination payments for a one-notch downgrade|$ 1072|$ 911|
|additional collateral or termination payments for a two-notch downgrade|2815|2989|
$ in millions 2014 2013 additional collateral or termination payments for a one-notch downgrade $ 1072 $ 911 additional collateral or termination payments for a two-notch downgrade 2815 2989 cash flows as a global financial institution , our cash flows are complex and bear little relation to our net earnings and net assets . consequently , we believe that traditional cash flow analysis is less meaningful in evaluating our liquidity position than the liquidity and asset-liability management policies described above . cash flow analysis may , however , be helpful in highlighting certain macro trends and strategic initiatives in our businesses . year ended december 2014 . our cash and cash equivalents decreased by $ 3.53 billion to $ 57.60 billion at the end of 2014 . we used $ 22.53 billion in net cash for operating and investing activities , which reflects an initiative to reduce our balance sheet , and the funding of loans receivable . we generated $ 19.00 billion in net cash from financing activities from an increase in bank deposits and net proceeds from issuances of unsecured long-term borrowings , partially offset by repurchases of common stock . year ended december 2013 . our cash and cash equivalents decreased by $ 11.54 billion to $ 61.13 billion at the end of 2013 . we generated $ 4.54 billion in net cash from operating activities . we used net cash of $ 16.08 billion for investing and financing activities , primarily to fund loans receivable and repurchases of common stock . year ended december 2012 . our cash and cash equivalents increased by $ 16.66 billion to $ 72.67 billion at the end of 2012 . we generated $ 9.14 billion in net cash from operating and investing activities . we generated $ 7.52 billion in net cash from financing activities from an increase in bank deposits , partially offset by net repayments of unsecured and secured long-term borrowings . 78 goldman sachs 2014 annual report .
Question: what is the difference in the required additional collateral or termination payments for a two-notch downgrade and additional collateral or termination payments for a one-notch downgrade in millions in 2013?
Answer: | 2078.0 |
FINQA3218 | Please answer the given financial question based on the context.
Context: worldwide distribution channels the following table presents the number of doors by geographic location , in which ralph lauren-branded products distributed by our wholesale segment were sold to consumers in our primary channels of distribution as of march 31 , 2012 : location number of .
|location|number of doors|
|the americas|6587|
|europe|4377|
|asia|83|
|total|11047|
in addition , american living and chaps-branded products distributed by our wholesale segment were sold domestically through approximately 1800 doors as of march 31 , 2012 . we have three key wholesale customers that generate significant sales volume . for fiscal 2012 , these customers in the aggregate accounted for approximately 40% ( 40 % ) of total wholesale revenues , with macy 2019s , inc . representing approximately 20% ( 20 % ) of total wholesale revenues . our product brands are sold primarily through our own sales forces . our wholesale segment maintains its primary showrooms in new york city . in addition , we maintain regional showrooms in chicago , dallas , milan , paris , london , munich , madrid , stockholm and tokyo . shop-within-shops . as a critical element of our distribution to department stores , we and our licensing partners utilize shop-within-shops to enhance brand recognition , to permit more complete merchandising of our lines by the department stores and to differentiate the presentation of products . shop-within- shop fixed assets primarily include items such as customized freestanding fixtures , wall cases and components , decorative items and flooring . as of march 31 , 2012 , we had approximately 18000 shop-within-shops dedicated to our ralph lauren-branded wholesale products worldwide . the size of our shop-within-shops ranges from approximately 300 to 7400 square feet . we normally share in the cost of building-out these shop-within-shops with our wholesale customers . basic stock replenishment program . basic products such as knit shirts , chino pants , oxford cloth shirts , and selected accessories ( including footwear ) and home products can be ordered at any time through our basic stock replenishment programs . we generally ship these products within two-to-five days of order receipt . our retail segment as of march 31 , 2012 , our retail segment consisted of 379 stores worldwide , totaling approximately 2.9 million gross square feet , 474 concessions- based shop-within-shops and six e-commerce websites . the extension of our direct-to-consumer reach is a primary long-term strategic goal . ralph lauren retail stores our ralph lauren retail stores reinforce the luxury image and distinct sensibility of our brands and feature exclusive lines that are not sold in domestic department stores . we opened 10 new ralph lauren stores , acquired 3 previously licensed stores , and closed 16 ralph lauren stores in fiscal 2012 . our retail stores are primarily situated in major upscale street locations and upscale regional malls , generally in large urban markets. .
Question: what percentage of worldwide distribution channels doors as of march 31 , 2012 where in europe ?
Answer: | 0.39622 |
FINQA3219 | Please answer the given financial question based on the context.
Context: management anticipates that the effective tax rate in 2017 will be between 32% ( 32 % ) and 35% ( 35 % ) . however , business portfolio actions , changes in the current economic environment , tax legislation or rate changes , currency fluctuations , ability to realize deferred tax assets , movements in stock price impacting tax benefits or deficiencies on stock-based payment awards , and the results of operations in certain taxing jurisdictions may cause this estimated rate to fluctuate . segment information arconic 2019s operations consist of three worldwide reportable segments : global rolled products , engineered products and solutions , and transportation and construction solutions ( see below ) . segment performance under arconic 2019s management reporting system is evaluated based on a number of factors ; however , the primary measure of performance is the after-tax operating income ( atoi ) of each segment . certain items such as the impact of lifo inventory accounting ; metal price lag ( the timing difference created when the average price of metal sold differs from the average cost of the metal when purchased by the respective segment 2014generally when the price of metal increases , metal lag is favorable and when the price of metal decreases , metal lag is unfavorable ) ; interest expense ; noncontrolling interests ; corporate expense ( general administrative and selling expenses of operating the corporate headquarters and other global administrative facilities , along with depreciation and amortization on corporate-owned assets ) ; restructuring and other charges ; and other items , including intersegment profit eliminations , differences between tax rates applicable to the segments and the consolidated effective tax rate , and other nonoperating items such as foreign currency transaction gains/losses and interest income are excluded from segment atoi . atoi for all reportable segments totaled $ 1087 in 2016 , $ 986 in 2015 , and $ 983 in 2014 . the following information provides shipment , sales and atoi data for each reportable segment , as well as certain realized price data , for each of the three years in the period ended december 31 , 2016 . see note o to the consolidated financial statements in part ii item 8 of this form 10-k for additional information . beginning in the first quarter of 2017 , arconic 2019s segment reporting metric will change from atoi to adjusted ebitda . global rolled products ( 1 ) .
||2016|2015|2014|
|third-party aluminum shipments ( kmt )|1339|1375|1598|
|average realized price per metric ton of aluminum ( 2 )|$ 3633|$ 3820|$ 3970|
|third-party sales|$ 4864|$ 5253|$ 6344|
|intersegment sales|118|125|185|
|total sales|$ 4982|$ 5378|$ 6529|
|atoi|$ 269|$ 225|$ 224|
( 1 ) excludes the warrick , in rolling operations and the equity interest in the rolling mill at the joint venture in saudi arabia , both of which were previously part of the global rolled products segment but became part of alcoa corporation effective november 1 , 2016 . ( 2 ) generally , average realized price per metric ton of aluminum includes two elements : a ) the price of metal ( the underlying base metal component based on quoted prices from the lme , plus a regional premium which represents the incremental price over the base lme component that is associated with physical delivery of metal to a particular region ) , and b ) the conversion price , which represents the incremental price over the metal price component that is associated with converting primary aluminum into sheet and plate . in this circumstance , the metal price component is a pass-through to this segment 2019s customers with limited exception ( e.g. , fixed-priced contracts , certain regional premiums ) . the global rolled products segment produces aluminum sheet and plate for a variety of end markets . sheet and plate is sold directly to customers and through distributors related to the aerospace , automotive , commercial transportation , packaging , building and construction , and industrial products ( mainly used in the production of machinery and equipment and consumer durables ) end markets . a small portion of this segment also produces aseptic foil for the packaging end market . while the customer base for flat-rolled products is large , a significant amount of sales of sheet .
Question: what is the percentage of the global rolled products' atoi concerning the total atoi in 2016?
Answer: | 0.24747 |
FINQA3220 | Please answer the given financial question based on the context.
Context: investment strategy the company 2019s global pension and postretirement funds 2019 investment strategy is to invest in a prudent manner for the exclusive purpose of providing benefits to participants . the investment strategies are targeted to produce a total return that , when combined with the company 2019s contributions to the funds , will maintain the funds 2019 ability to meet all required benefit obligations . risk is controlled through diversification of asset types and investments in domestic and international equities , fixed income securities and cash and short-term investments . the target asset allocation in most locations outside the u.s . is primarily in equity and debt securities . these allocations may vary by geographic region and country depending on the nature of applicable obligations and various other regional considerations . the wide variation in the actual range of plan asset allocations for the funded non-u.s . plans is a result of differing local statutory requirements and economic conditions . for example , in certain countries local law requires that all pension plan assets must be invested in fixed income investments , government funds or local-country securities . significant concentrations of risk in plan assets the assets of the company 2019s pension plans are diversified to limit the impact of any individual investment . the u.s . qualified pension plan is diversified across multiple asset classes , with publicly traded fixed income , hedge funds , publicly traded equity and real estate representing the most significant asset allocations . investments in these four asset classes are further diversified across funds , managers , strategies , vintages , sectors and geographies , depending on the specific characteristics of each asset class . the pension assets for the company 2019s non-u.s . significant plans are primarily invested in publicly traded fixed income and publicly traded equity securities . oversight and risk management practices the framework for the company 2019s pension oversight process includes monitoring of retirement plans by plan fiduciaries and/or management at the global , regional or country level , as appropriate . independent risk management contributes to the risk oversight and monitoring for the company 2019s u.s . qualified pension plan and non-u.s . significant pension plans . although the specific components of the oversight process are tailored to the requirements of each region , country and plan , the following elements are common to the company 2019s monitoring and risk management process : 2022 periodic asset/liability management studies and strategic asset allocation reviews ; 2022 periodic monitoring of funding levels and funding ratios ; 2022 periodic monitoring of compliance with asset allocation guidelines ; 2022 periodic monitoring of asset class and/or investment manager performance against benchmarks ; and 2022 periodic risk capital analysis and stress testing . estimated future benefit payments the company expects to pay the following estimated benefit payments in future years: .
|in millions of dollars|pension plans u.s . plans|pension plans non-u.s . plans|pension plans u.s . plans|non-u.s . plans|
|2019|$ 797|$ 435|$ 62|$ 70|
|2020|828|417|62|75|
|2021|847|426|61|80|
|2022|857|448|59|86|
|2023|873|471|57|92|
|2024 20132028|4365|2557|252|547|
.
Question: what are total estimated future benefit payments in millions for 2020?
Answer: | 1382.0 |
FINQA3221 | 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 | 90 table 30 : total deposits average balance december 31 years ended december 31 .
|( in millions )|december 31 2017|december 31 2016|december 31 2017|2016|
|client deposits|$ 180149|$ 176693|$ 158996|$ 156029|
|wholesale cds|4747|10470|4812|14456|
|total deposits|$ 184896|$ 187163|$ 163808|$ 170485|
short-term funding our on-balance sheet liquid assets are also an integral component of our liquidity management strategy . these assets provide liquidity through maturities of the assets , but more importantly , they provide us with the ability to raise funds by pledging the securities as collateral for borrowings or through outright sales . in addition , our access to the global capital markets gives us the ability to source incremental funding at reasonable rates of interest from wholesale investors . as discussed earlier under 201casset liquidity , 201d state street bank's membership in the fhlb allows for advances of liquidity with varying terms against high-quality collateral . short-term secured funding also comes in the form of securities lent or sold under agreements to repurchase . these transactions are short-term in nature , generally overnight , and are collateralized by high-quality investment securities . these balances were $ 2.84 billion and $ 4.40 billion as of december 31 , 2017 and december 31 , 2016 , respectively . state street bank currently maintains a line of credit with a financial institution of cad 1.40 billion , or approximately $ 1.11 billion as of december 31 , 2017 , to support its canadian securities processing operations . the line of credit has no stated termination date and is cancelable by either party with prior notice . as of december 31 , 2017 , there was no balance outstanding on this line of credit . long-term funding we have the ability to issue debt and equity securities under our current universal shelf registration to meet current commitments and business needs , including accommodating the transaction and cash management needs of our clients . in addition , state street bank , a wholly owned subsidiary of the parent company , also has authorization to issue up to $ 5 billion in unsecured senior debt and an additional $ 500 million of subordinated debt . agency credit ratings our ability to maintain consistent access to liquidity is fostered by the maintenance of high investment-grade ratings as measured by the major independent credit rating agencies . factors essential to maintaining high credit ratings include : 2022 diverse and stable core earnings ; 2022 relative market position ; 2022 strong risk management ; 2022 strong capital ratios ; 2022 diverse liquidity sources , including the global capital markets and client deposits ; 2022 strong liquidity monitoring procedures ; and 2022 preparedness for current or future regulatory developments . high ratings limit borrowing costs and enhance our liquidity by : 2022 providing assurance for unsecured funding and depositors ; 2022 increasing the potential market for our debt and improving our ability to offer products ; 2022 serving markets ; and 2022 engaging in transactions in which clients value high credit ratings . a downgrade or reduction of our credit ratings could have a material adverse effect on our liquidity by restricting our ability to access the capital markets , which could increase the related cost of funds . in turn , this could cause the sudden and large-scale withdrawal of unsecured deposits by our clients , which could lead to draw-downs of unfunded commitments to extend credit or trigger requirements under securities purchase commitments ; or require additional collateral or force terminations of certain trading derivative contracts . a majority of our derivative contracts have been entered into under bilateral agreements with counterparties who may require us to post collateral or terminate the transactions based on changes in our credit ratings . we assess the impact of these arrangements by determining the collateral that would be required assuming a downgrade by all rating agencies . the additional collateral or termination payments related to our net derivative liabilities under these arrangements that could have been called by counterparties in the event of a downgrade in our credit ratings below levels specified in the agreements is disclosed in note 10 to the consolidated financial statements included under item 8 , financial statements and supplementary data , of this form 10-k . other funding sources , such as secured financing transactions and other margin requirements , for which there are no explicit triggers , could also be adversely affected. .
Question: what value of cad is equal to $ 1 usd?
Answer: | 1.26126 |
FINQA3222 | Please answer the given financial question based on the context.
Context: entergy new orleans , inc . management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities . results of operations net income 2011 compared to 2010 net income increased $ 4.9 million primarily due to lower other operation and maintenance expenses , lower taxes other than income taxes , a lower effective income tax rate , and lower interest expense , partially offset by lower net revenue . 2010 compared to 2009 net income remained relatively unchanged , increasing $ 0.6 million , primarily due to higher net revenue and lower interest expense , almost entirely offset by higher other operation and maintenance expenses , higher taxes other than income taxes , lower other income , and higher depreciation and amortization expenses . net revenue 2011 compared to 2010 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) . following is an analysis of the change in net revenue comparing 2011 to 2010 . amount ( in millions ) .
||amount ( in millions )|
|2010 net revenue|$ 272.9|
|retail electric price|-16.9 ( 16.9 )|
|net gas revenue|-9.1 ( 9.1 )|
|gas cost recovery asset|-3.0 ( 3.0 )|
|volume/weather|5.4|
|other|-2.3 ( 2.3 )|
|2011 net revenue|$ 247.0|
the retail electric price variance is primarily due to formula rate plan decreases effective october 2010 and october 2011 . see note 2 to the financial statements for a discussion of the formula rate plan filing . the net gas revenue variance is primarily due to milder weather in 2011 compared to 2010 . the gas cost recovery asset variance is primarily due to the recognition in 2010 of a $ 3 million gas operations regulatory asset associated with the settlement of entergy new orleans 2019s electric and gas formula rate plan case and the amortization of that asset . see note 2 to the financial statements for additional discussion of the formula rate plan settlement. .
Question: what is the growth rate in net revenue from 2010 to 2011?
Answer: | -0.09491 |
FINQA3223 | Please answer the given financial question based on the context.
Context: expected durations of less than one year . the company generally offers a twelve-month warranty for its products . the company 2019s warranty policy provides for replacement of defective products . specific accruals are recorded forff known product warranty issues . transaction price : the transaction price reflects the company 2019s expectations about the consideration it will be entitled to receive from the customer and may include fixed or variable amounts . fixed consideration primarily includes sales to direct customers and sales to distributors in which both the sale to the distributor and the sale to the end customer occur within the same reporting period . variable consideration includes sales in which the amount of consideration that the company will receive is unknown as of the end of a reporting period . such consideration primarily includes credits issued to the distributor due to price protection and sales made to distributors under agreements that allow certain rights of return , referred to as stock rotation . price protection represents price discounts granted to certain distributors to allow the distributor to earn an appropriate margin on sales negotiated with certain customers and in the event of a price decrease subsequent to the date the product was shipped and billed to the distributor . stock rotation allows distributors limited levels of returns in order to reduce the amounts of slow-moving , discontinued or obsolete product from their inventory . a liability for distributor credits covering variable consideration is made based on the company's estimate of historical experience rates as well as considering economic conditions and contractual terms . to date , actual distributor claims activity has been materially consistent with the provisions the company has made based on its historical estimates . for the years ended november 2 , 2019 and november 3 , 2018 , sales to distributors were $ 3.4 billion in both periods , net of variable consideration for which the liability balances as of november 2 , 2019 and november 3 , 2018 were $ 227.0 million and $ 144.9 million , respectively . contract balances : accounts receivable represents the company 2019s unconditional right to receive consideration from its customers . payments are typically due within 30 to 45 days of invoicing and do not include a significant financing component . to date , there have been no material impairment losses on accounts receivable . there were no material contract assets or contract liabilities recorded on the consolidated balance sheets in any of the periods presented . the company generally warrants that products will meet their published specifications and that the company will repair or replace defective products for twelve-months from the date title passes to the customer . specific accruals are recorded for known product warranty issues . product warranty expenses during fiscal 2019 , fiscal 2018 and fiscal 2017 were not material . o . accumulated other compcc rehensive ( loss ) income accumulated other comprehensive ( loss ) income ( aoci ) includes certain transactions that have generally been reported in the consolidated statement of shareholders 2019 equity . the components of aoci at november 2 , 2019 and november 3 , 2018 consisted of the following , net of tax : foreign currency translation adjustment unrealized holding gains ( losses ) on available for sale securities unrealized holding ( losses ) on derivatives pension plans total .
||foreign currency translation adjustment|unrealized holding gains ( losses ) on available for sale securities|unrealized holding gains ( losses ) on derivatives|pension plans|total|
|november 3 2018|$ -28711 ( 28711 )|$ -10 ( 10 )|$ -14355 ( 14355 )|$ -15364 ( 15364 )|$ -58440 ( 58440 )|
|other comprehensive ( loss ) income before reclassifications|-1365 ( 1365 )|10|-140728 ( 140728 )|-31082 ( 31082 )|-173165 ( 173165 )|
|amounts reclassified out of other comprehensive loss|2014|2014|9185|1004|10189|
|tax effects|2014|2014|27883|5734|33617|
|other comprehensive ( loss ) income|-1365 ( 1365 )|10|-103660 ( 103660 )|-24344 ( 24344 )|-129359 ( 129359 )|
|november 2 2019|$ -30076 ( 30076 )|$ 2014|$ -118015 ( 118015 )|$ -39708 ( 39708 )|$ -187799 ( 187799 )|
november 2 , 2019 $ ( 30076 ) $ 2014 $ ( 118015 ) $ ( 39708 ) $ ( 187799 ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what is the net change in the liability balance from 2018 to 2019?
Answer: | 82.1 |
FINQA3224 | Please answer the given financial question based on the context.
Context: sales of unregistered securities not applicable . repurchases of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2017 to december 31 , 2017 . total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 .
||total number ofshares ( or units ) purchased1|average price paidper share ( or unit ) 2|total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3|maximum number ( orapproximate dollar value ) of shares ( or units ) that may yet be purchasedunder the plans orprograms3|
|october 1 - 31|1231868|$ 20.74|1230394|$ 214001430|
|november 1 - 30|1723139|$ 18.89|1722246|$ 181474975|
|december 1 - 31|1295639|$ 20.25|1285000|$ 155459545|
|total|4250646|$ 19.84|4237640||
1 included shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) . we repurchased 1474 withheld shares in october 2017 , 893 withheld shares in november 2017 and 10639 withheld shares in december 2017 , for a total of 13006 withheld shares during the three-month period . 2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our share repurchase program , described in note 5 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our share repurchase program . 3 in february 2017 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2017 share repurchase program 201d ) . on february 14 , 2018 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock . the new authorization is in addition to any amounts remaining for repurchase under the 2017 share repurchase program . there is no expiration date associated with the share repurchase programs. .
Question: what is the total cash outflow for the repurchase of shares in the last three months of year , ( in millions ) ?
Answer: | 84.33282 |
FINQA3225 | Please answer the given financial question based on the context.
Context: on-balance sheet securitizations the company engages in on-balance sheet securitizations . these are securitizations that do not qualify for sales treatment ; thus , the assets remain on the company 2019s balance sheet . the following table presents the carrying amounts and classification of consolidated assets and liabilities transferred in transactions from the consumer credit card , student loan , mortgage and auto businesses , accounted for as secured borrowings : in billions of dollars december 31 , december 31 .
|in billions of dollars|december 31 2008|december 31 2007|
|cash|$ 0.3|$ 0.1|
|available-for-sale securities|0.1|0.2|
|loans|7.5|7.4|
|allowance for loan losses|-0.1 ( 0.1 )|-0.1 ( 0.1 )|
|total assets|$ 7.8|$ 7.6|
|long-term debt|$ 6.3|$ 5.8|
|other liabilities|0.3|0.4|
|total liabilities|$ 6.6|$ 6.2|
all assets are restricted from being sold or pledged as collateral . the cash flows from these assets are the only source used to pay down the associated liabilities , which are non-recourse to the company 2019s general assets . citi-administered asset-backed commercial paper conduits the company is active in the asset-backed commercial paper conduit business as administrator of several multi-seller commercial paper conduits , and also as a service provider to single-seller and other commercial paper conduits sponsored by third parties . the multi-seller commercial paper conduits are designed to provide the company 2019s customers access to low-cost funding in the commercial paper markets . the conduits purchase assets from or provide financing facilities to customers and are funded by issuing commercial paper to third-party investors . the conduits generally do not purchase assets originated by the company . the funding of the conduit is facilitated by the liquidity support and credit enhancements provided by the company and by certain third parties . as administrator to the conduits , the company is responsible for selecting and structuring of assets purchased or financed by the conduits , making decisions regarding the funding of the conduits , including determining the tenor and other features of the commercial paper issued , monitoring the quality and performance of the conduits 2019 assets , and facilitating the operations and cash flows of the conduits . in return , the company earns structuring fees from clients for individual transactions and earns an administration fee from the conduit , which is equal to the income from client program and liquidity fees of the conduit after payment of interest costs and other fees . this administration fee is fairly stable , since most risks and rewards of the underlying assets are passed back to the customers and , once the asset pricing is negotiated , most ongoing income , costs and fees are relatively stable as a percentage of the conduit 2019s size . the conduits administered by the company do not generally invest in liquid securities that are formally rated by third parties . the assets are privately negotiated and structured transactions that are designed to be held by the conduit , rather than actively traded and sold . the yield earned by the conduit on each asset is generally tied to the rate on the commercial paper issued by the conduit , thus passing interest rate risk to the client . each asset purchased by the conduit is structured with transaction-specific credit enhancement features provided by the third-party seller , including over- collateralization , cash and excess spread collateral accounts , direct recourse or third-party guarantees . these credit enhancements are sized with the objective of approximating a credit rating of a or above , based on the company 2019s internal risk ratings . substantially all of the funding of the conduits is in the form of short- term commercial paper . as of december 31 , 2008 , the weighted average life of the commercial paper issued was approximately 37 days . in addition , the conduits have issued subordinate loss notes and equity with a notional amount of approximately $ 80 million and varying remaining tenors ranging from six months to seven years . the primary credit enhancement provided to the conduit investors is in the form of transaction-specific credit enhancement described above . in addition , there are two additional forms of credit enhancement that protect the commercial paper investors from defaulting assets . first , the subordinate loss notes issued by each conduit absorb any credit losses up to their full notional amount . it is expected that the subordinate loss notes issued by each conduit are sufficient to absorb a majority of the expected losses from each conduit , thereby making the single investor in the subordinate loss note the primary beneficiary under fin 46 ( r ) . second , each conduit has obtained a letter of credit from the company , which is generally 8-10% ( 8-10 % ) of the conduit 2019s assets . the letters of credit provided by the company total approximately $ 5.8 billion and are included in the company 2019s maximum exposure to loss . the net result across all multi-seller conduits administered by the company is that , in the event of defaulted assets in excess of the transaction-specific credit enhancement described above , any losses in each conduit are allocated in the following order : 2022 subordinate loss note holders 2022 the company 2022 the commercial paper investors the company , along with third parties , also provides the conduits with two forms of liquidity agreements that are used to provide funding to the conduits in the event of a market disruption , among other events . each asset of the conduit is supported by a transaction-specific liquidity facility in the form of an asset purchase agreement ( apa ) . under the apa , the company has agreed to purchase non-defaulted eligible receivables from the conduit at par . any assets purchased under the apa are subject to increased pricing . the apa is not designed to provide credit support to the conduit , as it generally does not permit the purchase of defaulted or impaired assets and generally reprices the assets purchased to consider potential increased credit risk . the apa covers all assets in the conduits and is considered in the company 2019s maximum exposure to loss . in addition , the company provides the conduits with program-wide liquidity in the form of short-term lending commitments . under these commitments , the company has agreed to lend to the conduits in the event of a short-term disruption in the commercial paper market , subject to specified conditions . the total notional exposure under the program-wide liquidity agreement is $ 11.3 billion and is considered in the company 2019s maximum exposure to loss . the company receives fees for providing both types of liquidity agreement and considers these fees to be on fair market terms. .
Question: at december 312008 what was the debt to the equity ratio
Answer: | 1.18182 |
FINQA3226 | Please answer the given financial question based on the context.
Context: cgmhi also has substantial borrowing arrangements consisting of facilities that cgmhi has been advised are available , but where no contractual lending obligation exists . these arrangements are reviewed on an ongoing basis to ensure flexibility in meeting cgmhi 2019s short-term requirements . the company issues both fixed and variable rate debt in a range of currencies . it uses derivative contracts , primarily interest rate swaps , to effectively convert a portion of its fixed rate debt to variable rate debt and variable rate debt to fixed rate debt . the maturity structure of the derivatives generally corresponds to the maturity structure of the debt being hedged . in addition , the company uses other derivative contracts to manage the foreign exchange impact of certain debt issuances . at december 31 , 2008 , the company 2019s overall weighted average interest rate for long-term debt was 3.83% ( 3.83 % ) on a contractual basis and 4.19% ( 4.19 % ) including the effects of derivative contracts . aggregate annual maturities of long-term debt obligations ( based on final maturity dates ) including trust preferred securities are as follows : in millions of dollars 2009 2010 2011 2012 2013 thereafter .
|in millions of dollars|2009|2010|2011|2012|2013|thereafter|
|citigroup parent company|$ 13463|$ 17500|$ 19864|$ 21135|$ 17525|$ 102794|
|other citigroup subsidiaries|55853|16198|18607|2718|4248|11691|
|citigroup global markets holdings inc .|1524|2352|1487|2893|392|11975|
|citigroup funding inc .|17632|5381|2154|1253|3790|7164|
|total|$ 88472|$ 41431|$ 42112|$ 27999|$ 25955|$ 133624|
long-term debt at december 31 , 2008 and december 31 , 2007 includes $ 24060 million and $ 23756 million , respectively , of junior subordinated debt . the company formed statutory business trusts under the laws of the state of delaware . the trusts exist for the exclusive purposes of ( i ) issuing trust securities representing undivided beneficial interests in the assets of the trust ; ( ii ) investing the gross proceeds of the trust securities in junior subordinated deferrable interest debentures ( subordinated debentures ) of its parent ; and ( iii ) engaging in only those activities necessary or incidental thereto . upon approval from the federal reserve , citigroup has the right to redeem these securities . citigroup has contractually agreed not to redeem or purchase ( i ) the 6.50% ( 6.50 % ) enhanced trust preferred securities of citigroup capital xv before september 15 , 2056 , ( ii ) the 6.45% ( 6.45 % ) enhanced trust preferred securities of citigroup capital xvi before december 31 , 2046 , ( iii ) the 6.35% ( 6.35 % ) enhanced trust preferred securities of citigroup capital xvii before march 15 , 2057 , ( iv ) the 6.829% ( 6.829 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xviii before june 28 , 2047 , ( v ) the 7.250% ( 7.250 % ) enhanced trust preferred securities of citigroup capital xix before august 15 , 2047 , ( vi ) the 7.875% ( 7.875 % ) enhanced trust preferred securities of citigroup capital xx before december 15 , 2067 , and ( vii ) the 8.300% ( 8.300 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xxi before december 21 , 2067 unless certain conditions , described in exhibit 4.03 to citigroup 2019s current report on form 8-k filed on september 18 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on november 28 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on march 8 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on july 2 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on august 17 , 2007 , in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on november 27 , 2007 , and in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on december 21 , 2007 , respectively , are met . these agreements are for the benefit of the holders of citigroup 2019s 6.00% ( 6.00 % ) junior subordinated deferrable interest debentures due 2034 . citigroup owns all of the voting securities of these subsidiary trusts . these subsidiary trusts have no assets , operations , revenues or cash flows other than those related to the issuance , administration and repayment of the subsidiary trusts and the subsidiary trusts 2019 common securities . these subsidiary trusts 2019 obligations are fully and unconditionally guaranteed by citigroup. .
Question: what was the percent decrease in the total aggregate annual maturities of long-term debt obligations from 2011 to 2012
Answer: | -0.33513 |
FINQA3227 | Please answer the given financial question based on the context.
Context: table of contents ( e ) other adjustments primarily include certain historical retention costs , unusual , non-recurring litigation matters , secondary-offering-related expenses and expenses related to the consolidation of office locations north of chicago . during the year ended december 31 , 2013 , we recorded ipo- and secondary-offering related expenses of $ 75.0 million . for additional information on the ipo- and secondary-offering related expenses , see note 10 ( stockholder 2019s equity ) to the accompanying consolidated financial statements . ( f ) includes the impact of consolidating five months for the year ended december 31 , 2015 of kelway 2019s financial results . ( 4 ) non-gaap net income excludes , among other things , charges related to the amortization of acquisition-related intangible assets , non-cash equity-based compensation , acquisition and integration expenses , and gains and losses from the extinguishment of long-term debt . non-gaap net income is considered a non-gaap financial measure . generally , a non-gaap financial measure is a numerical measure of a company 2019s performance , financial position or cash flows that either excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with gaap . non-gaap measures used by us may differ from similar measures used by other companies , even when similar terms are used to identify such measures . we believe that non-gaap net income provides meaningful information regarding our operating performance and cash flows including our ability to meet our future debt service , capital expenditures and working capital requirements . the following unaudited table sets forth a reconciliation of net income to non-gaap net income for the periods presented: .
|( in millions )|years ended december 31 , 2015|years ended december 31 , 2014|years ended december 31 , 2013|years ended december 31 , 2012|years ended december 31 , 2011|
|net income|$ 403.1|$ 244.9|$ 132.8|$ 119.0|$ 17.1|
|amortization of intangibles ( a )|173.9|161.2|161.2|163.7|165.7|
|non-cash equity-based compensation|31.2|16.4|8.6|22.1|19.5|
|non-cash equity-based compensation related to equity investment ( b )|20.0|2014|2014|2014|2014|
|net loss on extinguishments of long-term debt|24.3|90.7|64.0|17.2|118.9|
|acquisition and integration expenses ( c )|10.2|2014|2014|2014|2014|
|gain on remeasurement of equity investment ( d )|-98.1 ( 98.1 )|2014|2014|2014|2014|
|other adjustments ( e )|3.7|-0.3 ( 0.3 )|61.2|-3.3 ( 3.3 )|-15.6 ( 15.6 )|
|aggregate adjustment for income taxes ( f )|-64.8 ( 64.8 )|-103.0 ( 103.0 )|-113.5 ( 113.5 )|-71.6 ( 71.6 )|-106.8 ( 106.8 )|
|non-gaap net income ( g )|$ 503.5|$ 409.9|$ 314.3|$ 247.1|$ 198.8|
acquisition and integration expenses ( c ) 10.2 2014 2014 2014 2014 gain on remeasurement of equity investment ( d ) ( 98.1 ) 2014 2014 2014 2014 other adjustments ( e ) 3.7 ( 0.3 ) 61.2 ( 3.3 ) ( 15.6 ) aggregate adjustment for income taxes ( f ) ( 64.8 ) ( 103.0 ) ( 113.5 ) ( 71.6 ) ( 106.8 ) non-gaap net income ( g ) $ 503.5 $ 409.9 $ 314.3 $ 247.1 $ 198.8 ( a ) includes amortization expense for acquisition-related intangible assets , primarily customer relationships , customer contracts and trade names . ( b ) represents our 35% ( 35 % ) share of an expense related to certain equity awards granted by one of the sellers to kelway coworkers in july 2015 prior to our acquisition of kelway . ( c ) primarily includes expenses related to the acquisition of kelway . ( d ) represents the gain resulting from the remeasurement of our previously held 35% ( 35 % ) equity investment to fair value upon the completion of the acquisition of kelway . ( e ) primarily includes expenses related to the consolidation of office locations north of chicago and secondary- offering-related expenses . amount in 2013 primarily relates to ipo- and secondary-offering related expenses . ( f ) based on a normalized effective tax rate of 38.0% ( 38.0 % ) ( 39.0% ( 39.0 % ) prior to the kelway acquisition ) , except for the non- cash equity-based compensation from our equity investment and the gain resulting from the remeasurement of our previously held 35% ( 35 % ) equity investment to fair value upon the completion of the acquisition of kelway , which were tax effected at a rate of 35.4% ( 35.4 % ) . the aggregate adjustment for income taxes also includes a $ 4.0 million deferred tax benefit recorded during the three months and year ended december 31 , 2015 as a result of a tax rate reduction in the united kingdom and additional tax expense during the year ended december 31 , 2015 of $ 3.3 million as a result of recording withholding tax on the unremitted earnings of our canadian subsidiary . additionally , note that certain acquisition costs are non-deductible. .
Question: if stock compensation were not an expense , what would 2015 net income have been?
Answer: | 434300000.0 |
FINQA3228 | 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 ) future debt principal payments under these debt arrangements are approximately as follows: .
|fiscal 2008|$ 1977|
|fiscal 2009|1977|
|fiscal 2010|1977|
|fiscal 2011|1422|
|fiscal 2012|3846|
|thereafter|2014|
|total|$ 11199|
6 . derivative financial instruments and hedging agreements interest rate swaps in connection with the debt assumed from the aeg acquisition ( see notes 3 and 5 ) , the company acquired interest rate swap contracts used to convert the floating interest-rate component of certain debt obligations to fixed rates . these agreements did not qualify for hedge accounting under statements of financial accounting standards no . 133 , accounting for derivative instruments and hedging activities ( 201csfas 133 201d ) and thus were marked to market each reporting period with the change in fair value recorded to other income ( expense ) , net in the accompanying consolidated statements of income . the company terminated all outstanding interest rate swaps in the fourth quarter of fiscal 2007 which resulted in a gain of $ 75 recorded in consolidated statement of income . forward contracts also in connection with the aeg acquisition , the company assumed certain foreign currency forward contracts to hedge , on a net basis , the foreign currency fluctuations associated with a portion of the aeg 2019s assets and liabilities that were denominated in the us dollar , including inter-company accounts . increases or decreases in the company 2019s foreign currency exposures are partially offset by gains and losses on the forward contracts , so as to mitigate foreign currency transaction gains and losses . the terms of these forward contracts are of a short- term nature ( 6 to 12 months ) . the company does not use forward contracts for trading or speculative purposes . the forward contracts are not designated as cash flow or fair value hedges under sfas no . 133 and do not represent effective hedges . all outstanding forward contracts are marked to market at the end of the period and recorded on the balance sheet at fair value in other current assets and other current liabilities . the changes in fair value from these contracts and from the underlying hedged exposures are generally offsetting were recorded in other income , net in the accompanying consolidated statements of income and these amounts were not material . as of september 29 , 2007 , all of the forward exchange contracts assumed in the aeg acquisition had matured and the company had no forward exchange contracts outstanding . 7 . pension and other employee benefits in conjunction with the may 2 , 2006 acquisition of aeg , the company assumed certain defined benefit pension plans covering the employees of the aeg german subsidiary ( pension benefits ) . on september 29 , 2006 , the fasb issued sfas no . 158 , employers 2019 accounting for defined benefit pension and other postretirement plans , an amendment of fasb statements no . 87 , 88 , 106 and 132 ( r ) ( sfas 158 ) . sfas 158 requires an entity to recognize in its statement of financial position an asset for a defined benefit postretirement .
Question: what portion of the total future debt is reported under the current liabilities section of the balance sheet as of the end of fiscal 2007?
Answer: | 0.17653 |
FINQA3229 | Please answer the given financial question based on the context.
Context: our existing cash flow hedges are highly effective and there is no current impact on earnings due to hedge ineffectiveness . it is our policy to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes . contractual obligations fis 2019s long-term contractual obligations generally include its long-term debt and operating lease payments on certain of its property and equipment . the following table summarizes fis 2019s significant contractual obligations and commitments as of december 31 , 2007 ( in thousands ) : .
||2008|2009|2010|2011|2012|thereafter|total|
|long-term debt|$ 272014|$ 142850|$ 226000|$ 173500|$ 1945033|$ 1516000|$ 4275397|
|interest|254716|238554|227320|218416|109226|101987|1150219|
|operating leases|83382|63060|35269|21598|14860|30869|249038|
|investment commitments|47514|2014|2014|2014|2014|2014|47514|
|purchase commitments|33264|2014|2014|2014|2014|2014|33264|
|data processing and maintenance commitments|198290|171411|107105|63010|61035|287479|888330|
|total|$ 889180|$ 615875|$ 595694|$ 476524|$ 2130154|$ 1936335|$ 6643762|
off-balance sheet arrangements fis does not have any material off-balance sheet arrangements other than operating leases . escrow arrangements in conducting our title agency , closing and 1031 exchange services operations , we routinely hold customers 2019 assets in escrow , pending completion of real estate transactions . certain of these amounts are maintained in segregated bank accounts and have not been included in the accompanying consolidated balance sheets . we have a contingent liability relating to proper disposition of these balances , which amounted to $ 1926.8 million at december 31 , 2007 . as a result of holding these customers 2019 assets in escrow , we have ongoing programs for realizing economic benefits during the year through favorable borrowing and vendor arrangements with various banks . there were no loans outstanding as of december 31 , 2007 and these balances were invested in short term , high grade investments that minimize the risk to principal . recent accounting pronouncements in december 2007 , the fasb issued sfas no . 141 ( revised 2007 ) , business combinations ( 201csfas 141 ( r ) 201d ) , requiring an acquirer in a business combination to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at their fair values at the acquisition date , with limited exceptions . the costs of the acquisition and any related restructuring costs will be recognized separately . assets and liabilities arising from contingencies in a business combination are to be recognized at their fair value at the acquisition date and adjusted prospectively as new information becomes available . when the fair value of assets acquired exceeds the fair value of consideration transferred plus any noncontrolling interest in the acquiree , the excess will be recognized as a gain . under sfas 141 ( r ) , all business combinations will be accounted for by applying the acquisition method , including combinations among mutual entities and combinations by contract alone . sfas 141 ( r ) applies prospectively to business combinations for which the acquisition date is on or after the first annual reporting period beginning on or after december 15 , 2008 , is effective for periods beginning on or after december 15 , 2008 , and will apply to business combinations occurring after the effective date . management is currently evaluating the impact of this statement on our statements of financial position and operations . in december 2007 , the fasb issued sfas no . 160 , noncontrolling interests in consolidated financial statements 2014 an amendment of arb no . 51 ( 201csfas 160 201d ) , requiring noncontrolling interests ( sometimes called minority interests ) to be presented as a component of equity on the balance sheet . sfas 160 also requires that the amount of net income attributable to the parent and to the noncontrolling interests be clearly identified and presented on the face of the consolidated statement of income . this statement eliminates the need to apply purchase .
Question: what portion of the long-term debt is reported as current liabilities as of december 312007?
Answer: | 0.06362 |
FINQA3230 | 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 following table presents reported quarterly high and low per share sale prices of our class a common stock on the new york stock exchange ( 201cnyse 201d ) for the years 2007 and 2006. .
|2007|high|low|
|quarter ended march 31|$ 41.31|$ 36.63|
|quarter ended june 30|43.84|37.64|
|quarter ended september 30|45.45|36.34|
|quarter ended december 31|46.53|40.08|
|2006|high|low|
|quarter ended march 31|$ 32.68|$ 26.66|
|quarter ended june 30|35.75|27.35|
|quarter ended september 30|36.92|29.98|
|quarter ended december 31|38.74|35.21|
on february 29 , 2008 , the closing price of our class a common stock was $ 38.44 per share as reported on the nyse . as of february 29 , 2008 , we had 395748826 outstanding shares of class a common stock and 528 registered holders . dividends we have never paid a dividend on any class of our common stock . we anticipate that we may retain future earnings , if any , to fund the development and growth of our business . the indentures governing our 7.50% ( 7.50 % ) senior notes due 2012 ( 201c7.50% ( 201c7.50 % ) notes 201d ) and our 7.125% ( 7.125 % ) senior notes due 2012 ( 201c7.125% ( 201c7.125 % ) notes 201d ) may prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants . the loan agreement for our revolving credit facility and the indentures governing the terms of our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes contain covenants that restrict our ability to pay dividends unless certain financial covenants are satisfied . in addition , while spectrasite and its subsidiaries are classified as unrestricted subsidiaries under the indentures for our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes , certain of spectrasite 2019s subsidiaries are subject to restrictions on the amount of cash that they can distribute to us under the loan agreement related to our securitization . for more information about the restrictions under the loan agreement for the revolving credit facility , our notes indentures and the loan agreement related to the securitization , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 3 to our consolidated financial statements included in this annual report. .
Question: what was the fair value of class a stockholders equity at february 29 , 2008?\\n .
Answer: | 15212584871.44 |
FINQA3231 | Please answer the given financial question based on the context.
Context: the following table presents tower cash flow , adjusted consolidated cash flow and non-tower cash flow for the company and its restricted subsidiaries , as defined in the indentures for the applicable notes ( in thousands ) : .
|tower cash flow for the three months ended december 31 2007|$ 177724|
|consolidated cash flow for the twelve months ended december 31 2007|$ 668123|
|less : tower cash flow for the twelve months ended december 31 2007|-683200 ( 683200 )|
|plus : four times tower cash flow for the three months ended december 31 2007|710896|
|adjusted consolidated cash flow for the twelve months ended december 31 2007|$ 695819|
|non-tower cash flow for the twelve months ended december 31 2007|$ -48012 ( 48012 )|
.
Question: what portion of consolidated cashflow for the twelve months ended december 31 , 2007 is related to tower cash flow twelve months?
Answer: | 1.02257 |
FINQA3232 | Please answer the given financial question based on the context.
Context: echostar communications corporation notes to consolidated financial statements - continued closing price of the class a common stock on the last business day of each calendar quarter in which such shares of class a common stock are deemed sold to an employee under the espp . the espp shall terminate upon the first to occur of ( i ) october 1 , 2007 or ( ii ) the date on which the espp is terminated by the board of directors . during 2000 , 2001 and 2002 employees purchased approximately 58000 ; 80000 and 108000 shares of class a common stock through the espp , respectively . 401 ( k ) employee savings plan echostar sponsors a 401 ( k ) employee savings plan ( the 201c401 ( k ) plan 201d ) for eligible employees . voluntary employee contributions to the 401 ( k ) plan may be matched 50% ( 50 % ) by echostar , subject to a maximum annual contribution by echostar of $ 1000 per employee . matching 401 ( k ) contributions totaled approximately $ 1.6 million , $ 2.1 million and $ 2.4 million during the years ended december 31 , 2000 , 2001 and 2002 , respectively . echostar also may make an annual discretionary contribution to the plan with approval by echostar 2019s board of directors , subject to the maximum deductible limit provided by the internal revenue code of 1986 , as amended . these contributions may be made in cash or in echostar stock . forfeitures of unvested participant balances which are retained by the 401 ( k ) plan may be used to fund matching and discretionary contributions . expense recognized relating to discretionary contributions was approximately $ 7 million , $ 225 thousand and $ 17 million during the years ended december 31 , 2000 , 2001 and 2002 , respectively . 9 . commitments and contingencies leases future minimum lease payments under noncancelable operating leases as of december 31 , 2002 , are as follows ( in thousands ) : year ending december 31 .
|2003|$ 17274|
|2004|14424|
|2005|11285|
|2006|7698|
|2007|3668|
|thereafter|1650|
|total minimum lease payments|55999|
total rent expense for operating leases approximated $ 9 million , $ 14 million and $ 16 million in 2000 , 2001 and 2002 , respectively . purchase commitments as of december 31 , 2002 , echostar 2019s purchase commitments totaled approximately $ 359 million . the majority of these commitments relate to echostar receiver systems and related components . all of the purchases related to these commitments are expected to be made during 2003 . echostar expects to finance these purchases from existing unrestricted cash balances and future cash flows generated from operations . patents and intellectual property many entities , including some of echostar 2019s competitors , now have and may in the future obtain patents and other intellectual property rights that cover or affect products or services directly or indirectly related to those that echostar offers . echostar may not be aware of all patents and other intellectual property rights that its products may potentially infringe . damages in patent infringement cases can include a tripling of actual damages in certain cases . further , echostar cannot estimate the extent to which it may be required in the future to obtain licenses with respect to .
Question: what is the percentage change in rent expense for operating leases from 2001 to 2002?
Answer: | 0.14286 |
FINQA3233 | Please answer the given financial question based on the context.
Context: credit agency ratings our long-term debt credit ratings as of february 16 , 2007 were ba3 with negative outlook , b creditwatch negative and b with negative outlook , as reported by moody 2019s investors service , standard & poor 2019s and fitch ratings , respectively . a downgrade in our credit ratings could adversely affect our ability to access capital and could result in more stringent covenants and higher interest rates under the terms of any new indebtedness . contractual obligations the following summarizes our estimated contractual obligations at december 31 , 2006 , and their effect on our liquidity and cash flow in future periods: .
||2007|2008|2009|2010|2011|thereafter|total|
|long-term debt1|$ 2.6|$ 2.8|$ 257.0|$ 240.9|$ 500.0|$ 1247.9|$ 2251.2|
|interest payments|122.0|116.1|107.1|93.6|75.1|74.1|588.0|
|non-cancelable operating lease obligations|292.3|265.2|237.4|207.9|181.9|861.2|2045.9|
|contingent acquisition payments2|47.2|34.2|20.8|2.5|2.0|3.1|109.8|
contingent acquisition payments 2 47.2 34.2 20.8 2.5 2.0 3.1 109.8 1 holders of our $ 400.0 4.50% ( 4.50 % ) notes may require us to repurchase their notes for cash at par in march 2008 . these notes will mature in 2023 if not converted or repurchased . 2 we have structured certain acquisitions with additional contingent purchase price obligations in order to reduce the potential risk associated with negative future performance of the acquired entity . all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress . see note 18 to the consolidated financial statements for further information . we have not included obligations under our pension and postretirement benefit plans in the contractual obligations table . our funding policy regarding our funded pension plan is to contribute amounts necessary to satisfy minimum pension funding requirements plus such additional amounts from time to time as are determined to be appropriate to improve the plans 2019 funded status . the funded status of our pension plans is dependent upon many factors , including returns on invested assets , level of market interest rates and levels of voluntary contributions to the plans . declines in long-term interest rates have had a negative impact on the funded status of the plans . for 2007 , we do not expect to contribute to our domestic pension plans , and expect to contribute $ 20.6 to our foreign pension plans . we have not included our deferred tax obligations in the contractual obligations table as the timing of any future payments in relation to these obligations is uncertain . derivatives and hedging activities we periodically enter into interest rate swap agreements and forward contracts to manage exposure to interest rate fluctuations and to mitigate foreign exchange volatility . in may of 2005 , we terminated all of our long-term interest rate swap agreements covering the $ 350.0 6.25% ( 6.25 % ) senior unsecured notes and $ 150.0 of the $ 500.0 7.25% ( 7.25 % ) senior unsecured notes . in connection with the interest rate swap termination , our net cash receipts were $ 1.1 , which is recorded as an offset to interest expense over the remaining life of the related debt . we have entered into foreign currency transactions in which various foreign currencies are bought or sold forward . these contracts were entered into to meet currency requirements arising from specific transactions . the changes in value of these forward contracts have been recorded in other income or expense . as of december 31 , 2006 and 2005 , we had contracts covering $ 0.2 and $ 6.2 , respectively , of notional amount of currency and the fair value of the forward contracts was negligible . the terms of the 4.50% ( 4.50 % ) notes include two embedded derivative instruments and the terms of our 4.25% ( 4.25 % ) notes and our series b preferred stock each include one embedded derivative instrument . the fair value of these derivatives on december 31 , 2006 was negligible . the interpublic group of companies , inc . and subsidiaries management 2019s discussion and analysis of financial condition and results of operations 2014 ( continued ) ( amounts in millions , except per share amounts ) %%transmsg*** transmitting job : y31000 pcn : 036000000 ***%%pcmsg|36 |00005|yes|no|02/28/2007 01:12|0|0|page is valid , no graphics -- color : d| .
Question: what portion of the total long-term debt should be included in the current liabilities section of the balance sheet as of december 31 , 2006?
Answer: | 0.00115 |
FINQA3234 | Please answer the given financial question based on the context.
Context: technical and research personnel and lab facilities , and significantly expanded the portfolio of patents available to us via license and through a cooperative development program . in addition , we have acquired a 20 percent interest in grt , inc . the gtftm technology is protected by an intellectual property protection program . the u.s . has granted 17 patents for the technology , with another 22 pending . worldwide , there are over 300 patents issued or pending , covering over 100 countries including regional and direct foreign filings . another innovative technology that we are developing focuses on reducing the processing and transportation costs of natural gas by artificially creating natural gas hydrates , which are more easily transportable than natural gas in its gaseous form . much like lng , gas hydrates would then be regasified upon delivery to the receiving market . we have an active pilot program in place to test and further develop a proprietary natural gas hydrates manufacturing system . the above discussion of the integrated gas segment contains forward-looking statements with respect to the possible expansion of the lng production facility . factors that could potentially affect the possible expansion of the lng production facility include partner and government approvals , access to sufficient natural gas volumes through exploration or commercial negotiations with other resource owners and access to sufficient regasification capacity . the foregoing factors ( among others ) could cause actual results to differ materially from those set forth in the forward-looking statements . refining , marketing and transportation we have refining , marketing and transportation operations concentrated primarily in the midwest , upper great plains , gulf coast and southeast regions of the u.s . we rank as the fifth largest crude oil refiner in the u.s . and the largest in the midwest . our operations include a seven-plant refining network and an integrated terminal and transportation system which supplies wholesale and marathon-brand customers as well as our own retail operations . our wholly-owned retail marketing subsidiary speedway superamerica llc ( 201cssa 201d ) is the third largest chain of company-owned and -operated retail gasoline and convenience stores in the u.s . and the largest in the midwest . refining we own and operate seven refineries with an aggregate refining capacity of 1.188 million barrels per day ( 201cmmbpd 201d ) of crude oil as of december 31 , 2009 . during 2009 , our refineries processed 957 mbpd of crude oil and 196 mbpd of other charge and blend stocks . the table below sets forth the location and daily crude oil refining capacity of each of our refineries as of december 31 , 2009 . crude oil refining capacity ( thousands of barrels per day ) 2009 .
|( thousands of barrels per day )|2009|
|garyville louisiana|436|
|catlettsburg kentucky|212|
|robinson illinois|206|
|detroit michigan|106|
|canton ohio|78|
|texas city texas|76|
|st . paul park minnesota|74|
|total|1188|
our refineries include crude oil atmospheric and vacuum distillation , fluid catalytic cracking , catalytic reforming , desulfurization and sulfur recovery units . the refineries process a wide variety of crude oils and produce numerous refined products , ranging from transportation fuels , such as reformulated gasolines , blend- grade gasolines intended for blending with fuel ethanol and ultra-low sulfur diesel fuel , to heavy fuel oil and asphalt . additionally , we manufacture aromatics , cumene , propane , propylene , sulfur and maleic anhydride . our garyville , louisiana , refinery is located along the mississippi river in southeastern louisiana between new orleans and baton rouge . the garyville refinery predominantly processes heavy sour crude oil into products .
Question: during 2009 , refineries a total of how much processed total crude and other charge and blend stocks , in mbpd?
Answer: | 1153.0 |
FINQA3235 | Please answer the given financial question based on the context.
Context: general market conditions affecting trust asset performance , future discount rates based on average yields of high quality corporate bonds and our decisions regarding certain elective provisions of the we currently project that we will make total u.s . and foreign benefit plan contributions in 2014 of approximately $ 57 million . actual 2014 contributions could be different from our current projections , as influenced by our decision to undertake discretionary funding of our benefit trusts versus other competing investment priorities , future changes in government requirements , trust asset performance , renewals of union contracts , or higher-than-expected health care claims cost experience . we measure cash flow as net cash provided by operating activities reduced by expenditures for property additions . we use this non-gaap financial measure of cash flow to focus management and investors on the amount of cash available for debt repayment , dividend distributions , acquisition opportunities , and share repurchases . our cash flow metric is reconciled to the most comparable gaap measure , as follows: .
|( dollars in millions )|2013|2012|2011|
|net cash provided by operating activities|$ 1807|$ 1758|$ 1595|
|additions to properties|-637 ( 637 )|-533 ( 533 )|-594 ( 594 )|
|cash flow|$ 1170|$ 1225|$ 1001|
|year-over-year change|( 4.5 ) % ( % )|22.4% ( 22.4 % )||
year-over-year change ( 4.5 ) % ( % ) 22.4% ( 22.4 % ) the decrease in cash flow ( as defined ) in 2013 compared to 2012 was due primarily to higher capital expenditures . the increase in cash flow in 2012 compared to 2011 was driven by improved performance in working capital resulting from the one-time benefit derived from the pringles acquisition , as well as changes in the level of capital expenditures during the three-year period . investing activities our net cash used in investing activities for 2013 amounted to $ 641 million , a decrease of $ 2604 million compared with 2012 primarily attributable to the $ 2668 million acquisition of pringles in 2012 . capital spending in 2013 included investments in our supply chain infrastructure , and to support capacity requirements in certain markets , including pringles . in addition , we continued the investment in our information technology infrastructure related to the reimplementation and upgrade of our sap platform . net cash used in investing activities of $ 3245 million in 2012 increased by $ 2658 million compared with 2011 , due to the acquisition of pringles in 2012 . cash paid for additions to properties as a percentage of net sales has increased to 4.3% ( 4.3 % ) in 2013 , from 3.8% ( 3.8 % ) in 2012 , which was a decrease from 4.5% ( 4.5 % ) in financing activities our net cash used by financing activities was $ 1141 million for 2013 , compared to net cash provided by financing activities of $ 1317 million for 2012 and net cash used in financing activities of $ 957 million for 2011 . the increase in cash provided from financing activities in 2012 compared to 2013 and 2011 , was primarily due to the issuance of debt related to the acquisition of pringles . total debt was $ 7.4 billion at year-end 2013 and $ 7.9 billion at year-end 2012 . in february 2013 , we issued $ 250 million of two-year floating-rate u.s . dollar notes , and $ 400 million of ten-year 2.75% ( 2.75 % ) u.s . dollar notes , resulting in aggregate net proceeds after debt discount of $ 645 million . the proceeds from these notes were used for general corporate purposes , including , together with cash on hand , repayment of the $ 750 million aggregate principal amount of our 4.25% ( 4.25 % ) u.s . dollar notes due march 2013 . in may 2012 , we issued $ 350 million of three-year 1.125% ( 1.125 % ) u.s . dollar notes , $ 400 million of five-year 1.75% ( 1.75 % ) u.s . dollar notes and $ 700 million of ten-year 3.125% ( 3.125 % ) u.s . dollar notes , resulting in aggregate net proceeds after debt discount of $ 1.442 billion . the proceeds of these notes were used for general corporate purposes , including financing a portion of the acquisition of pringles . in may 2012 , we issued cdn . $ 300 million of two-year 2.10% ( 2.10 % ) fixed rate canadian dollar notes , using the proceeds from these notes for general corporate purposes , which included repayment of intercompany debt . this repayment resulted in cash available to be used for a portion of the acquisition of pringles . in december 2012 , we repaid $ 750 million five-year 5.125% ( 5.125 % ) u.s . dollar notes at maturity with commercial paper . in april 2011 , we repaid $ 945 million ten-year 6.60% ( 6.60 % ) u.s . dollar notes at maturity with commercial paper . in may 2011 , we issued $ 400 million of seven-year 3.25% ( 3.25 % ) fixed rate u.s . dollar notes , using the proceeds of $ 397 million for general corporate purposes and repayment of commercial paper . in november 2011 , we issued $ 500 million of five-year 1.875% ( 1.875 % ) fixed rate u . s . dollar notes , using the proceeds of $ 498 million for general corporate purposes and repayment of commercial paper. .
Question: by what percent did cash provided by operations increase between 2011 and 2013?
Answer: | 0.13292 |
FINQA3236 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements six-month offering period . the weighted average fair value per share of espp share purchase options during the year ended december 31 , 2014 , 2013 and 2012 was $ 14.83 , $ 13.42 and $ 13.64 , respectively . at december 31 , 2014 , 3.4 million shares remain reserved for future issuance under the plan . key assumptions used to apply the black-scholes pricing model for shares purchased through the espp for the years ended december 31 , are as follows: .
||2014|2013|2012|
|range of risk-free interest rate|0.06% ( 0.06 % ) 2013 0.11% ( 0.11 % )|0.07% ( 0.07 % ) 2013 0.13% ( 0.13 % )|0.05% ( 0.05 % ) 2013 0.12% ( 0.12 % )|
|weighted average risk-free interest rate|0.09% ( 0.09 % )|0.10% ( 0.10 % )|0.08% ( 0.08 % )|
|expected life of shares|6 months|6 months|6 months|
|range of expected volatility of underlying stock price over the option period|11.29% ( 11.29 % ) 2013 16.59% ( 16.59 % )|12.21% ( 12.21 % ) 2013 13.57% ( 13.57 % )|33.16% ( 33.16 % ) 2013 33.86% ( 33.86 % )|
|weighted average expected volatility of underlying stock price|14.14% ( 14.14 % )|12.88% ( 12.88 % )|33.54% ( 33.54 % )|
|expected annual dividend yield|1.50% ( 1.50 % )|1.50% ( 1.50 % )|1.50% ( 1.50 % )|
16 . equity mandatory convertible preferred stock offering 2014on may 12 , 2014 , the company completed a registered public offering of 6000000 shares of its 5.25% ( 5.25 % ) mandatory convertible preferred stock , series a , par value $ 0.01 per share ( the 201cmandatory convertible preferred stock 201d ) . the net proceeds of the offering were $ 582.9 million after deducting commissions and estimated expenses . the company used the net proceeds from this offering to fund acquisitions , including the acquisition from richland , initially funded by indebtedness incurred under the 2013 credit facility . unless converted earlier , each share of the mandatory convertible preferred stock will automatically convert on may 15 , 2017 , into between 0.9174 and 1.1468 shares of common stock , depending on the applicable market value of the common stock and subject to anti-dilution adjustments . subject to certain restrictions , at any time prior to may 15 , 2017 , holders of the mandatory convertible preferred stock may elect to convert all or a portion of their shares into common stock at the minimum conversion rate then in effect . dividends on shares of mandatory convertible preferred stock are payable on a cumulative basis when , as and if declared by the company 2019s board of directors ( or an authorized committee thereof ) at an annual rate of 5.25% ( 5.25 % ) on the liquidation preference of $ 100.00 per share , on february 15 , may 15 , august 15 and november 15 of each year , commencing on august 15 , 2014 to , and including , may 15 , 2017 . the company may pay dividends in cash or , subject to certain limitations , in shares of common stock or any combination of cash and shares of common stock . the terms of the mandatory convertible preferred stock provide that , unless full cumulative dividends have been paid or set aside for payment on all outstanding mandatory convertible preferred stock for all prior dividend periods , no dividends may be declared or paid on common stock . stock repurchase program 2014in march 2011 , the board of directors approved a stock repurchase program , pursuant to which the company is authorized to purchase up to $ 1.5 billion of common stock ( 201c2011 buyback 201d ) . in september 2013 , the company temporarily suspended repurchases in connection with its acquisition of mipt . under the 2011 buyback , the company is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices in accordance with securities laws and other legal requirements , and subject to market conditions and other factors . to facilitate repurchases , the company .
Question: what is the growth rate in the weighted average fair value per share of espp share purchase options from 2012 to 2013?
Answer: | -0.01613 |
FINQA3237 | Please answer the given financial question based on the context.
Context: we currently maintain a corporate commercial paper program , unrelated to the conduits 2019 asset-backed commercial paper program , under which we can issue up to $ 3 billion with original maturities of up to 270 days from the date of issue . at december 31 , 2009 , we had $ 2.78 billion of commercial paper outstanding , compared to $ 2.59 billion at december 31 , 2008 . additional information about our corporate commercial paper program is provided in note 8 of the notes to consolidated financial statements included under item 8 . in connection with our participation in the fdic 2019s temporary liquidity guarantee program , or tlgp , in which we elected to participate in december 2008 , the parent company was eligible to issue up to approximately $ 1.67 billion of unsecured senior debt during 2009 , backed by the full faith and credit of the united states . as of december 31 , 2009 , the parent company 2019s outstanding unsecured senior debt issued under the tlgp was $ 1.5 billion . additional information with respect to this outstanding debt is provided in note 9 of the notes to consolidated financial statements included under item 8 . the guarantee of this outstanding debt under the tlgp expires on april 30 , 2012 , the maturity date of the debt . state street bank currently has board authority to issue bank notes up to an aggregate of $ 5 billion , and up to $ 1 billion of subordinated bank notes . in connection with state street bank 2019s participation in the tlgp , in which state street bank elected to participate in december 2008 , state street bank was eligible to issue up to approximately $ 2.48 billion of unsecured senior notes during 2009 , backed by the full faith and credit of the united states . as of december 31 , 2009 , state street bank 2019s outstanding unsecured senior notes issued under the tlgp , and pursuant to the aforementioned board authority , totaled $ 2.45 billion . additional information with respect to these outstanding bank notes is provided in note 9 of the notes to consolidated financial statements included under item 8 . the guarantee of state street bank 2019s outstanding debt under the tlgp expires on the maturity date of each respective debt issuance , as follows 2014$ 1 billion on march 15 , 2011 , and $ 1.45 billion on september 15 , 2011 . state street bank currently maintains a line of credit with a financial institution of cad $ 800 million , or approximately $ 761 million as of december 31 , 2009 , to support its canadian securities processing operations . the line of credit has no stated termination date and is cancelable by either party with prior notice . as of december 31 , 2009 , no balance was outstanding on this line of credit . contractual cash obligations .
|as of december 31 2009 ( in millions )|payments due by period total|payments due by period less than 1 year|payments due by period 1-3 years|payments due by period 4-5 years|payments due by period over 5 years|
|long-term debt ( 1 )|$ 10981|$ 529|$ 4561|$ 797|$ 5094|
|operating leases|1033|229|342|240|222|
|capital lease obligations|1151|74|147|145|785|
|total contractual cash obligations|$ 13165|$ 832|$ 5050|$ 1182|$ 6101|
( 1 ) long-term debt excludes capital lease obligations ( reported as a separate line item ) and the effect of interest- rate swaps . interest payments were calculated at the stated rate with the exception of floating-rate debt , for which payments were calculated using the indexed rate in effect on december 31 , 2009 . the obligations presented in the table above are recorded in our consolidated statement of condition at december 31 , 2009 , except for interest on long-term debt . the table does not include obligations which will be settled in cash , primarily in less than one year , such as deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings . additional information about deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings is provided in notes 7 and 8 of the notes to consolidated financial statements included under item 8 . the table does not include obligations related to derivative instruments , because the amounts included in our consolidated statement of condition at december 31 , 2009 related to derivatives do not represent the amounts that may ultimately be paid under the contracts upon settlement . additional information about derivative contracts is provided in note 16 of the notes to consolidated financial statements included under item 8 . we have obligations under pension and other post-retirement benefit plans , more fully described in note 18 of the notes to consolidated financial statements included under item 8 , which are not included in the above table. .
Question: what percent of the total payments are due to be paid off within the first year?
Answer: | 0.0632 |
FINQA3238 | Please answer the given financial question based on the context.
Context: the regulatory credit resulting from reduction of the federal corporate income tax rate variance is due to the reduction of the vidalia purchased power agreement regulatory liability by $ 30.5 million and the reduction of the louisiana act 55 financing savings obligation regulatory liabilities by $ 25 million as a result of the enactment of the tax cuts and jobs act , in december 2017 , which lowered the federal corporate income tax rate from 35% ( 35 % ) to 21% ( 21 % ) . the effects of the tax cuts and jobs act are discussed further in note 3 to the financial statements . the grand gulf recovery variance is primarily due to increased recovery of higher operating costs . the louisiana act 55 financing savings obligation variance results from a regulatory charge in 2016 for tax savings to be shared with customers per an agreement approved by the lpsc . the tax savings resulted from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike . see note 3 to the financial statements for additional discussion of the settlement and benefit sharing . the volume/weather variance is primarily due to the effect of less favorable weather on residential and commercial sales , partially offset by an increase in industrial usage . the increase in industrial usage is primarily due to new customers in the primary metals industry and expansion projects and an increase in demand for existing customers in the chlor-alkali industry . entergy wholesale commodities following is an analysis of the change in net revenue comparing 2017 to 2016 . amount ( in millions ) .
||amount ( in millions )|
|2016 net revenue|$ 1542|
|fitzpatrick sale|-158 ( 158 )|
|nuclear volume|-89 ( 89 )|
|fitzpatrick reimbursement agreement|57|
|nuclear fuel expenses|108|
|other|9|
|2017 net revenue|$ 1469|
as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 73 million in 2017 primarily due to the absence of net revenue from the fitzpatrick plant after it was sold to exelon in march 2017 and lower volume in the entergy wholesale commodities nuclear fleet resulting from more outage days in 2017 as compared to 2016 . the decrease was partially offset by an increase resulting from the reimbursement agreement with exelon pursuant to which exelon reimbursed entergy for specified out-of-pocket costs associated with preparing for the refueling and operation of fitzpatrick that otherwise would have been avoided had entergy shut down fitzpatrick in january 2017 and a decrease in nuclear fuel expenses primarily related to the impairments of the indian point 2 , indian point 3 , and palisades plants and related assets . revenues received from exelon in 2017 under the reimbursement agreement are offset by other operation and maintenance expenses and taxes other than income taxes and had no effect on net income . see note 14 to the financial statements for discussion of the sale of fitzpatrick , the reimbursement agreement with exelon , and the impairments and related charges . entergy corporation and subsidiaries management 2019s financial discussion and analysis .
Question: what is the growth rate in net revenue in 2017?
Answer: | -0.04734 |
FINQA3239 | Please answer the given financial question based on the context.
Context: the following table reports the significant movements in our shareholders 2019 equity for the year ended december 31 , 2010. .
|( in millions of u.s . dollars )|2010|
|balance beginning of year|$ 19667|
|net income|3108|
|dividends declared on common shares|-443 ( 443 )|
|change in net unrealized appreciation ( depreciation ) on investments net of tax|742|
|repurchase of shares|-303 ( 303 )|
|other movements net of tax|203|
|balance end of year|$ 22974|
total shareholders 2019 equity increased $ 3.3 billion in 2010 , primarily due to net income of $ 3.1 billion and the change in net unrealized appreciation on investments of $ 742 million . short-term debt at december 31 , 2010 , in connection with the financing of the rain and hail acquisition , short-term debt includes reverse repurchase agreements totaling $ 1 billion . in addition , $ 300 million in borrowings against ace 2019s revolving credit facility were outstanding at december 31 , 2010 . at december 31 , 2009 , short-term debt consisted of a five-year term loan which we repaid in december 2010 . long-term debt our total long-term debt increased by $ 200 million during the year to $ 3.4 billion and is described in detail in note 9 to the consolidated financial statements , under item 8 . in november 2010 , ace ina issued $ 700 million of 2.6 percent senior notes due november 2015 . these senior unsecured notes are guaranteed on a senior basis by the company and they rank equally with all of the company 2019s other senior obligations . in april 2008 , as part of the financing of the combined insurance acquisition , ace ina entered into a $ 450 million float- ing interest rate syndicated term loan agreement due april 2013 . simultaneously , the company entered into a swap transaction that had the economic effect of fixing the interest rate for the term of the loan . in december 2010 , ace repaid this loan and exited the swap . in december 2008 , ace ina entered into a $ 66 million dual tranche floating interest rate term loan agreement . the first tranche , a $ 50 million three-year term loan due december 2011 , had a floating interest rate . simultaneously , the company entered into a swap transaction that had the economic effect of fixing the interest rate for the term of the loan . in december 2010 , ace repaid this loan and exited the swap . the second tranche , a $ 16 million nine-month term loan , was due and repaid in september 2009 . trust preferred securities the securities outstanding consist of $ 300 million of trust preferred securities due 2030 , issued by a special purpose entity ( a trust ) that is wholly owned by us . the sole assets of the special purpose entity are debt instruments issued by one or more of our subsidiaries . the special purpose entity looks to payments on the debt instruments to make payments on the preferred securities . we have guaranteed the payments on these debt instruments . the trustees of the trust include one or more of our officers and at least one independent trustee , such as a trust company . our officers serving as trustees of the trust do not receive any compensation or other remuneration for their services in such capacity . the full $ 309 million of outstanding trust preferred securities ( calculated as $ 300 million as discussed above plus our equity share of the trust ) is shown on our con- solidated balance sheet as a liability . additional information with respect to the trust preferred securities is contained in note 9 d ) to the consolidated financial statements , under item 8 . common shares our common shares had a par value of chf 30.57 each at december 31 , 2010 . at the annual general meeting held in may 2010 , the company 2019s shareholders approved a par value reduction in an aggregate swiss franc amount , pursuant to a formula , equal to $ 1.32 per share , which we refer to as the base annual divi- dend . the base annual dividend is payable in four installments , provided that each of the swiss franc installments will be .
Question: in 2010 what was the percent of the increase in the total shareholders 2019 equity primarily due net income
Answer: | 0.93939 |
FINQA3240 | Please answer the given financial question based on the context.
Context: impairment of long-lived assets based on the projection of undiscounted cash flows whenever events or changes in circumstances indicate that the carrying amounts of such assets may not be recoverable . in the event such cash flows are not expected to be sufficient to recover the recorded value of the assets , the assets are written down to their estimated fair values ( see note 5 ) . asset retirement obligations 2014effective january 1 , 2003 , the company adopted statement of financial accounting standards ( 2018 2018sfas 2019 2019 ) no . 143 , 2018 2018accounting for asset retirement obligations . 2019 2019 sfas no . 143 requires the company to record the fair value of a legal liability for an asset retirement obligation in the period in which it is incurred . when a new liability is recorded the company will capitalize the costs of the liability by increasing the carrying amount of the related long-lived asset . the liability is accreted to its present value each period and the capitalized cost is depreciated over the useful life of the related asset . upon settlement of the liability , the company settles the obligation for its recorded amount or incurs a gain or loss upon settlement . the company 2019s retirement obligations covered by sfas no . 143 include primarily active ash landfills , water treatment basins and the removal or dismantlement of certain plant and equipment . as of december 31 , 2003 and 2002 , the company had recorded liabilities of approximately $ 29 million and $ 15 million , respectively , related to asset retirement obligations . there are no assets that are legally restricted for purposes of settling asset retirement obligations . upon adoption of sfas no . 143 , the company recorded an additional liability of approximately $ 13 million , a net asset of approximately $ 9 million , and a cumulative effect of a change in accounting principle of approximately $ 2 million , after income taxes . amounts recorded related to asset retirement obligations during the years ended december 31 , 2003 were as follows ( in millions ) : .
|balance at december 31 2002|$ 15|
|additional liability recorded from cumulative effect of accounting change|13|
|accretion expense|2|
|change in the timing of estimated cash flows|-1 ( 1 )|
|balance at december 31 2003|$ 29|
proforma net ( loss ) income and ( loss ) earnings per share have not been presented for the years ended december 31 , 2002 and 2001 because the proforma application of sfas no . 143 to prior periods would result in proforma net ( loss ) income and ( loss ) earnings per share not materially different from the actual amounts reported for those periods in the accompanying consolidated statements of operations . had sfas 143 been applied during all periods presented the asset retirement obligation at january 1 , 2001 , december 31 , 2001 and december 31 , 2002 would have been approximately $ 21 million , $ 23 million and $ 28 million , respectively . included in other long-term liabilities is the accrual for the non-legal obligations for removal of assets in service at ipalco amounting to $ 361 million and $ 339 million at december 31 , 2003 and 2002 , respectively . deferred financing costs 2014financing costs are deferred and amortized over the related financing period using the effective interest method or the straight-line method when it does not differ materially from the effective interest method . deferred financing costs are shown net of accumulated amortization of $ 202 million and $ 173 million as of december 31 , 2003 and 2002 , respectively . project development costs 2014the company capitalizes the costs of developing new construction projects after achieving certain project-related milestones that indicate the project 2019s completion is probable . these costs represent amounts incurred for professional services , permits , options , capitalized interest , and other costs directly related to construction . these costs are transferred to construction in progress when significant construction activity commences , or expensed at the time the company determines that development of a particular project is no longer probable ( see note 5 ) . .
Question: without the accounting change , what would the aro balance have been ( millions ) at december 31 2003?
Answer: | 16.0 |
FINQA3241 | Please answer the given financial question based on the context.
Context: amortization expense , which is included in selling , general and administrative expenses , was $ 13.0 million , $ 13.9 million and $ 8.5 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively . the following is the estimated amortization expense for the company 2019s intangible assets as of december 31 , 2016 : ( in thousands ) .
|2017|$ 10509|
|2018|9346|
|2019|9240|
|2020|7201|
|2021|5318|
|2022 and thereafter|16756|
|amortization expense of intangible assets|$ 58370|
at december 31 , 2016 , 2015 and 2014 , the company determined that its goodwill and indefinite- lived intangible assets were not impaired . 5 . credit facility and other long term debt credit facility the company is party to a credit agreement that provides revolving commitments for up to $ 1.25 billion of borrowings , as well as term loan commitments , in each case maturing in january 2021 . as of december 31 , 2016 there was no outstanding balance under the revolving credit facility and $ 186.3 million of term loan borrowings remained outstanding . at the company 2019s request and the lender 2019s consent , revolving and or term loan borrowings may be increased by up to $ 300.0 million in aggregate , subject to certain conditions as set forth in the credit agreement , as amended . incremental borrowings are uncommitted and the availability thereof , will depend on market conditions at the time the company seeks to incur such borrowings . the borrowings under the revolving credit facility have maturities of less than one year . up to $ 50.0 million of the facility may be used for the issuance of letters of credit . there were $ 2.6 million of letters of credit outstanding as of december 31 , 2016 . the credit agreement contains negative covenants that , subject to significant exceptions , limit the ability of the company and its subsidiaries to , among other things , incur additional indebtedness , make restricted payments , pledge their assets as security , make investments , loans , advances , guarantees and acquisitions , undergo fundamental changes and enter into transactions with affiliates . the company is also required to maintain a ratio of consolidated ebitda , as defined in the credit agreement , to consolidated interest expense of not less than 3.50 to 1.00 and is not permitted to allow the ratio of consolidated total indebtedness to consolidated ebitda to be greater than 3.25 to 1.00 ( 201cconsolidated leverage ratio 201d ) . as of december 31 , 2016 , the company was in compliance with these ratios . in addition , the credit agreement contains events of default that are customary for a facility of this nature , and includes a cross default provision whereby an event of default under other material indebtedness , as defined in the credit agreement , will be considered an event of default under the credit agreement . borrowings under the credit agreement bear interest at a rate per annum equal to , at the company 2019s option , either ( a ) an alternate base rate , or ( b ) a rate based on the rates applicable for deposits in the interbank market for u.s . dollars or the applicable currency in which the loans are made ( 201cadjusted libor 201d ) , plus in each case an applicable margin . the applicable margin for loans will .
Question: what portion of the estimated amortization expense will be recognized in 2017?
Answer: | 0.18004 |
FINQA3242 | Please answer the given financial question based on the context.
Context: financial assurance we must provide financial assurance to governmental agencies and a variety of other entities under applicable environmental regulations relating to our landfill operations for capping , closure and post-closure costs , and related to our performance under certain collection , landfill and transfer station contracts . we satisfy these financial assurance requirements by providing surety bonds , letters of credit , or insurance policies ( financial assurance instruments ) , or trust deposits , which are included in restricted cash and marketable securities and other assets in our consolidated balance sheets . the amount of the financial assurance requirements for capping , closure and post-closure costs is determined by applicable state environmental regulations . the financial assurance requirements for capping , closure and post-closure costs may be associated with a portion of the landfill or the entire landfill . generally , states require a third-party engineering specialist to determine the estimated capping , closure and post-closure costs that are used to determine the required amount of financial assurance for a landfill . the amount of financial assurance required can , and generally will , differ from the obligation determined and recorded under u.s . gaap . the amount of the financial assurance requirements related to contract performance varies by contract . additionally , we must provide financial assurance for our insurance program and collateral for certain performance obligations . we do not expect a material increase in financial assurance requirements during 2015 , although the mix of financial assurance instruments may change . these financial assurance instruments are issued in the normal course of business and are not considered indebtedness . because we currently have no liability for the financial assurance instruments , they are not reflected in our consolidated balance sheets ; however , we record capping , closure and post-closure liabilities and insurance liabilities as they are incurred . the underlying obligations of the financial assurance instruments , in excess of those already reflected in our consolidated balance sheets , would be recorded if it is probable that we would be unable to fulfill our related obligations . we do not expect this to occur . off-balance sheet arrangements we have no off-balance sheet debt or similar obligations , other than operating leases and financial assurances , which are not classified as debt . we have no transactions or obligations with related parties that are not disclosed , consolidated into or reflected in our reported financial position or results of operations . we have not guaranteed any third-party debt . free cash flow we define free cash flow , which is not a measure determined in accordance with u.s . gaap , as cash provided by operating activities less purchases of property and equipment , plus proceeds from sales of property and equipment , as presented in our consolidated statements of cash flows . the following table calculates our free cash flow for the years ended december 31 , 2014 , 2013 and 2012 ( in millions of dollars ) : .
||2014|2013|2012|
|cash provided by operating activities|$ 1529.8|$ 1548.2|$ 1513.8|
|purchases of property and equipment|-862.5 ( 862.5 )|-880.8 ( 880.8 )|-903.5 ( 903.5 )|
|proceeds from sales of property and equipment|35.7|23.9|28.7|
|free cash flow|$ 703.0|$ 691.3|$ 639.0|
for a discussion of the changes in the components of free cash flow , you should read our discussion regarding cash flows provided by operating activities and cash flows used in investing activities contained elsewhere in this management 2019s discussion and analysis of financial condition and results of operations. .
Question: in 2014 what was the ratio of the cash provided by operating activities to the free cash flow
Answer: | 2.1761 |
FINQA3243 | Please answer the given financial question based on the context.
Context: constitutes an event of default under our other debt instruments , including our senior notes , and , therefore , our senior notes would also be subject to acceleration of maturity . if such acceleration were to occur , we would not have sufficient liquidity available to repay the indebtedness . we would likely have to seek an amendment under our credit facilities for relief from the financial covenants or repay the debt with proceeds from the issuance of new debt or equity , or asset sales , if necessary . we may be unable to amend our credit facilities or raise sufficient capital to repay such obligations in the event the maturities are accelerated . financial assurance we must provide financial assurance to governmental agencies and a variety of other entities under applicable environmental regulations relating to our landfill operations for capping , closure and post-closure costs , and related to our performance under certain collection , landfill and transfer station contracts . we satisfy these financial assurance requirements by providing surety bonds , letters of credit , or insurance policies ( the financial assurance instruments ) , or trust deposits , which are included in restricted cash and marketable securities and other assets in our consolidated balance sheets . the amount of the financial assurance requirements for capping , closure and post-closure costs is determined by applicable state environmental regulations . the financial assurance requirements for capping , closure and post-closure costs may be associated with a portion of the landfill or the entire landfill . generally , states require a third-party engineering specialist to determine the estimated capping , closure and post-closure costs that are used to determine the required amount of financial assurance for a landfill . the amount of financial assurance required can , and generally will , differ from the obligation determined and recorded under u.s . gaap . the amount of the financial assurance requirements related to contract performance varies by contract . additionally , we must provide financial assurance for our insurance program and collateral for certain performance obligations . we do not expect a material increase in financial assurance requirements during 2014 , although the mix of financial assurance instruments may change . these financial instruments are issued in the normal course of business and are not considered indebtedness . because we currently have no liability for the financial assurance instruments , they are not reflected in our consolidated balance sheets ; however , we record capping , closure and post-closure liabilities and self-insurance liabilities as they are incurred . the underlying obligations of the financial assurance instruments , in excess of those already reflected in our consolidated balance sheets , would be recorded if it is probable that we would be unable to fulfill our related obligations . we do not expect this to occur . off-balance sheet arrangements we have no off-balance sheet debt or similar obligations , other than financial assurance instruments and operating leases , that are not classified as debt . we do not guarantee any third-party debt . free cash flow we define free cash flow , which is not a measure determined in accordance with u.s . gaap , as cash provided by operating activities less purchases of property and equipment , plus proceeds from sales of property and equipment as presented in our consolidated statements of cash flows . our free cash flow for the years ended december 31 , 2013 , 2012 and 2011 is calculated as follows ( in millions of dollars ) : .
||2013|2012|2011|
|cash provided by operating activities|$ 1548.2|$ 1513.8|$ 1766.7|
|purchases of property and equipment|-880.8 ( 880.8 )|-903.5 ( 903.5 )|-936.5 ( 936.5 )|
|proceeds from sales of property and equipment|23.9|28.7|34.6|
|free cash flow|$ 691.3|$ 639.0|$ 864.8|
.
Question: in 2013 what was the ratio of the cash provided by operating activities to the amount spent on purchases of property and the equipment
Answer: | 1.75772 |
FINQA3244 | Please answer the given financial question based on the context.
Context: page 26 of 100 our calculation of adjusted net earnings is summarized below: .
|( $ in millions except per share amounts )|2010|2009|2008|
|net earnings attributable to ball corporation as reported|$ 468.0|$ 387.9|$ 319.5|
|discontinued operations net of tax|74.9|2.2|-4.6 ( 4.6 )|
|business consolidation activities net of tax|-9.3 ( 9.3 )|13.0|27.1|
|gains and equity earnings related to acquisitions net of tax|-105.9 ( 105.9 )|2212|2212|
|gain on dispositions net of tax|2212|-30.7 ( 30.7 )|-4.4 ( 4.4 )|
|debt refinancing costs net of tax|5.3|2212|2212|
|adjusted net earnings|$ 433.0|$ 372.4|$ 337.6|
|per diluted share from continuing operations as reported|$ 2.96|$ 2.05|$ 1.62|
|per diluted share as adjusted|2.36|1.96|1.74|
debt facilities and refinancing interest-bearing debt at december 31 , 2010 , increased $ 216.1 million to $ 2.8 billion from $ 2.6 billion at december 31 , 2009 . in december 2010 , ball replaced its senior credit facilities due october 2011 with new senior credit facilities due december 2015 . the senior credit facilities bear interest at variable rates and include a $ 200 million term a loan denominated in u.s . dollars , a a351 million term b loan denominated in british sterling and a 20ac100 million term c loan denominated in euros . the facilities also include ( 1 ) a multi-currency , long-term revolving credit facility that provides the company with up to approximately $ 850 million and ( 2 ) a french multi-currency revolving facility that provides the company with up to $ 150 million . the revolving credit facilities expire in december 2015 . in november 2010 , ball issued $ 500 million of new 5.75 percent senior notes due in may 2021 . the net proceeds from this offering were used to repay the borrowings under our term d loan facility and for general corporate purposes . in march 2010 , ball issued $ 500 million of new 6.75 percent senior notes due in september 2020 . on that same date , the company issued a notice of redemption to call $ 509 million in 6.875 percent senior notes due december 2012 at a redemption price of 101.146 percent of the outstanding principal amount plus accrued interest . the redemption of the bonds occurred on april 21 , 2010 , and resulted in a charge of $ 8.1 million for the call premium and the write off of unamortized financing costs and unamortized premiums . the charge is included in the 2010 statement of earnings as a component of interest expense . at december 31 , 2010 , approximately $ 976 million was available under the company 2019s committed multi-currency revolving credit facilities . the company 2019s prc operations also had approximately $ 20 million available under a committed credit facility of approximately $ 52 million . in addition to the long-term committed credit facilities , the company had $ 372 million of short-term uncommitted credit facilities available at the end of 2010 , of which $ 76.2 million was outstanding and due on demand , as well as approximately $ 175 million of available borrowings under its accounts receivable securitization program . in october 2010 , the company renewed its receivables sales agreement for a period of one year . the size of the new program will vary between a maximum of $ 125 million for settlement dates in january through april and a maximum of $ 175 million for settlement dates in the remaining months . given our free cash flow projections and unused credit facilities that are available until december 2015 , our liquidity is strong and is expected to meet our ongoing operating cash flow and debt service requirements . while the recent financial and economic conditions have raised concerns about credit risk with counterparties to derivative transactions , the company mitigates its exposure by spreading the risk among various counterparties and limiting exposure to any one party . we also monitor the credit ratings of our suppliers , customers , lenders and counterparties on a regular basis . we were in compliance with all loan agreements at december 31 , 2010 , and all prior years presented , and have met all debt payment obligations . the u.s . note agreements , bank credit agreement and industrial development revenue bond agreements contain certain restrictions relating to dividends , investments , financial ratios , guarantees and the incurrence of additional indebtedness . additional details about our debt and receivables sales agreements are available in notes 12 and 6 , respectively , accompanying the consolidated financial statements within item 8 of this report. .
Question: what was the percentage change in per diluted share earnings as adjusted from 2008 to 2009?
Answer: | 0.12644 |
FINQA3245 | Please answer the given financial question based on the context.
Context: consumer lending asset classes home equity and residential real estate loan classes we use several credit quality indicators , including delinquency information , nonperforming loan information , updated credit scores , originated and updated ltv ratios , and geography , to monitor and manage credit risk within the home equity and residential real estate loan classes . we evaluate mortgage loan performance by source originators and loan servicers . a summary of asset quality indicators follows : delinquency/delinquency rates : we monitor trending of delinquency/delinquency rates for home equity and residential real estate loans . see the asset quality section of this note 3 for additional information . nonperforming loans : we monitor trending of nonperforming loans for home equity and residential real estate loans . see the asset quality section of this note 3 for additional information . credit scores : we use a national third-party provider to update fico credit scores for home equity loans and lines of credit and residential real estate loans at least quarterly . the updated scores are incorporated into a series of credit management reports , which are utilized to monitor the risk in the loan classes . ltv ( inclusive of combined loan-to-value ( cltv ) for first and subordinate lien positions ) : at least annually , we update the property values of real estate collateral and calculate an updated ltv ratio . for open-end credit lines secured by real estate in regions experiencing significant declines in property values , more frequent valuations may occur . we examine ltv migration and stratify ltv into categories to monitor the risk in the loan classes . historically , we used , and we continue to use , a combination of original ltv and updated ltv for internal risk management and reporting purposes ( e.g. , line management , loss mitigation strategies ) . in addition to the fact that estimated property values by their nature are estimates , given certain data limitations it is important to note that updated ltvs may be based upon management 2019s assumptions ( e.g. , if an updated ltv is not provided by the third-party service provider , home price index ( hpi ) changes will be incorporated in arriving at management 2019s estimate of updated ltv ) . geography : geographic concentrations are monitored to evaluate and manage exposures . loan purchase programs are sensitive to , and focused within , certain regions to manage geographic exposures and associated risks . a combination of updated fico scores , originated and updated ltv ratios and geographic location assigned to home equity loans and lines of credit and residential real estate loans is used to monitor the risk in the loan classes . loans with higher fico scores and lower ltvs tend to have a lower level of risk . conversely , loans with lower fico scores , higher ltvs , and in certain geographic locations tend to have a higher level of risk . consumer purchased impaired loan class estimates of the expected cash flows primarily determine the valuation of consumer purchased impaired loans . consumer cash flow estimates are influenced by a number of credit related items , which include , but are not limited to : estimated real estate values , payment patterns , updated fico scores , the current economic environment , updated ltv ratios and the date of origination . these key factors are monitored to help ensure that concentrations of risk are managed and cash flows are maximized . see note 4 purchased loans for additional information . table 63 : home equity and residential real estate balances in millions december 31 december 31 .
|in millions|december 312014|december 31 2013|
|home equity and residential real estate loans 2013 excluding purchased impaired loans ( a )|$ 43348|$ 44376|
|home equity and residential real estate loans 2013 purchased impaired loans ( b )|4541|5548|
|government insured or guaranteed residential real estate mortgages ( a )|1188|1704|
|purchase accounting adjustments 2013 purchased impaired loans|7|-116 ( 116 )|
|total home equity and residential real estate loans ( a )|$ 49084|$ 51512|
( a ) represents recorded investment . ( b ) represents outstanding balance . the pnc financial services group , inc . 2013 form 10-k 133 .
Question: what percentage of the total home equity and real estate loans in 2014 explicitly excluded purchased impaired loans?
Answer: | 0.88314 |
FINQA3246 | Please answer the given financial question based on the context.
Context: credit commitments and lines of credit the table below summarizes citigroup 2019s credit commitments : in millions of dollars u.s . outside of u.s . december 31 , december 31 .
|in millions of dollars|u.s .|outside ofu.s .|december 312018|december 31 2017|
|commercial and similar letters of credit|$ 823|$ 4638|$ 5461|$ 5000|
|one- to four-family residential mortgages|1056|1615|2671|2674|
|revolving open-end loans secured by one- to four-family residential properties|10019|1355|11374|12323|
|commercial real estate construction and land development|9565|1728|11293|11151|
|credit card lines|605857|90150|696007|678300|
|commercial and other consumer loan commitments|185849|102918|288767|272655|
|other commitments and contingencies|2560|761|3321|3071|
|total|$ 815729|$ 203165|$ 1018894|$ 985174|
the majority of unused commitments are contingent upon customers maintaining specific credit standards . commercial commitments generally have floating interest rates and fixed expiration dates and may require payment of fees . such fees ( net of certain direct costs ) are deferred and , upon exercise of the commitment , amortized over the life of the loan or , if exercise is deemed remote , amortized over the commitment period . commercial and similar letters of credit a commercial letter of credit is an instrument by which citigroup substitutes its credit for that of a customer to enable the customer to finance the purchase of goods or to incur other commitments . citigroup issues a letter on behalf of its client to a supplier and agrees to pay the supplier upon presentation of documentary evidence that the supplier has performed in accordance with the terms of the letter of credit . when a letter of credit is drawn , the customer is then required to reimburse citigroup . one- to four-family residential mortgages a one- to four-family residential mortgage commitment is a written confirmation from citigroup to a seller of a property that the bank will advance the specified sums enabling the buyer to complete the purchase . revolving open-end loans secured by one- to four-family residential properties revolving open-end loans secured by one- to four-family residential properties are essentially home equity lines of credit . a home equity line of credit is a loan secured by a primary residence or second home to the extent of the excess of fair market value over the debt outstanding for the first mortgage . commercial real estate , construction and land development commercial real estate , construction and land development include unused portions of commitments to extend credit for the purpose of financing commercial and multifamily residential properties as well as land development projects . both secured-by-real-estate and unsecured commitments are included in this line , as well as undistributed loan proceeds , where there is an obligation to advance for construction progress payments . however , this line only includes those extensions of credit that , once funded , will be classified as total loans , net on the consolidated balance sheet . credit card lines citigroup provides credit to customers by issuing credit cards . the credit card lines are cancelable by providing notice to the cardholder or without such notice as permitted by local law . commercial and other consumer loan commitments commercial and other consumer loan commitments include overdraft and liquidity facilities as well as commercial commitments to make or purchase loans , purchase third-party receivables , provide note issuance or revolving underwriting facilities and invest in the form of equity . other commitments and contingencies other commitments and contingencies include committed or unsettled regular-way reverse repurchase agreements and all other transactions related to commitments and contingencies not reported on the lines above . unsettled reverse repurchase and securities lending agreements and unsettled repurchase and securities borrowing agreements in addition , in the normal course of business , citigroup enters into reverse repurchase and securities borrowing agreements , as well as repurchase and securities lending agreements , which settle at a future date . at december 31 , 2018 , and 2017 , citigroup had $ 36.1 billion and $ 35.0 billion unsettled reverse repurchase and securities borrowing agreements , respectively , and $ 30.7 billion and $ 19.1 billion unsettled repurchase and securities lending agreements , respectively . for a further discussion of securities purchased under agreements to resell and securities borrowed , and securities sold under agreements to repurchase and securities loaned , including the company 2019s policy for offsetting repurchase and reverse repurchase agreements , see note 11 to the consolidated financial statements. .
Question: what percentage of total credit commitments as of december 31 , 2018 are credit card lines?
Answer: | 0.6831 |
FINQA3247 | Please answer the given financial question based on the context.
Context: stock performance graph this performance graph shall not be deemed 201cfiled 201d for purposes of section 18 of the exchange act , or incorporated by reference into any filing of quintiles ims holdings , inc . under the exchange act or under the securities act , except as shall be expressly set forth by specific reference in such filing . the following graph shows a comparison from may 9 , 2013 ( the date our common stock commenced trading on the nyse ) through december 31 , 2016 of the cumulative total return for our common stock , the standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) and a select peer group . the peer group consists of cerner corporation , charles river laboratories , inc. , dun & bradstreet corporation , equifax inc. , icon plc , ihs markit ltd. , inc research holdings , laboratory corporation of america holdings , nielsen n.v. , parexel international corporation , inc. , pra health sciences , inc. , thomson reuters corporation and verisk analytics , inc . the companies in our peer group are publicly traded information services , information technology or contract research companies , and thus share similar business model characteristics to quintilesims , or provide services to similar customers as quintilesims . many of these companies are also used by our compensation committee for purposes of compensation benchmarking . the graph assumes that $ 100 was invested in quintilesims , the s&p 500 and the peer group as of the close of market on may 9 , 2013 , assumes the reinvestments of dividends , if any . the s&p 500 and our peer group are included for comparative purposes only . they do not necessarily reflect management 2019s opinion that the s&p 500 and our peer group are an appropriate measure of the relative performance of the stock involved , and they are not intended to forecast or be indicative of possible future performance of our common stock . s&p 500 quintilesims peer group .
||5/9/2013|12/31/2013|12/31/2014|12/31/2015|12/31/2016|
|q|$ 100|$ 110|$ 140|$ 163|$ 181|
|peer group|$ 100|$ 116|$ 143|$ 151|$ 143|
|s&p 500|$ 100|$ 114|$ 127|$ 126|$ 138|
item 6 . selected financial data we have derived the following consolidated statements of income data for 2016 , 2015 and 2014 and consolidated balance sheet data as of december 31 , 2016 and 2015 from our audited consolidated financial .
Question: in 2013 what was the anticipated percentage growth in the stock performance for the peer group in 2014
Answer: | 0.43 |
FINQA3248 | Please answer the given financial question based on the context.
Context: 12 . brokerage receivables and brokerage payables citi has receivables and payables for financial instruments sold to and purchased from brokers , dealers and customers , which arise in the ordinary course of business . citi is exposed to risk of loss from the inability of brokers , dealers or customers to pay for purchases or to deliver the financial instruments sold , in which case citi would have to sell or purchase the financial instruments at prevailing market prices . credit risk is reduced to the extent that an exchange or clearing organization acts as a counterparty to the transaction and replaces the broker , dealer or customer in question . citi seeks to protect itself from the risks associated with customer activities by requiring customers to maintain margin collateral in compliance with regulatory and internal guidelines . margin levels are monitored daily , and customers deposit additional collateral as required . where customers cannot meet collateral requirements , citi may liquidate sufficient underlying financial instruments to bring the customer into compliance with the required margin level . exposure to credit risk is impacted by market volatility , which may impair the ability of clients to satisfy their obligations to citi . credit limits are established and closely monitored for customers and for brokers and dealers engaged in forwards , futures and other transactions deemed to be credit sensitive . brokerage receivables and brokerage payables consisted of the following: .
|in millions of dollars|december 31 , 2016|december 31 , 2015|
|receivables from customers|$ 10374|$ 10435|
|receivables from brokers dealers and clearing organizations|18513|17248|
|total brokerage receivables ( 1 )|$ 28887|$ 27683|
|payables to customers|$ 37237|$ 35653|
|payables to brokers dealers and clearing organizations|19915|18069|
|total brokerage payables ( 1 )|$ 57152|$ 53722|
payables to brokers , dealers , and clearing organizations 19915 18069 total brokerage payables ( 1 ) $ 57152 $ 53722 ( 1 ) includes brokerage receivables and payables recorded by citi broker- dealer entities that are accounted for in accordance with the aicpa accounting guide for brokers and dealers in securities as codified in asc 940-320. .
Question: as of december 31 , 2015 what was the ratio of receivables from brokers dealers and clearing organizations to payables to brokers dealers and clearing organizations?
Answer: | 0.95456 |
FINQA3249 | Please answer the given financial question based on the context.
Context: table of contents finance lease obligations the company has a non-cancelable lease agreement for a building with approximately 164000 square feet located in alajuela , costa rica , to be used as a manufacturing and office facility . the company was responsible for a significant portion of the construction costs , and in accordance with asc 840 , leases , subsection 40-15-5 , the company was deemed to be the owner of the building during the construction period . the building was completed in fiscal 2008 , and the company has recorded the fair market value of the building and land of $ 15.1 million within property and equipment on its consolidated balance sheets . at september 24 , 2011 , the company has recorded $ 1.6 million in accrued expenses and $ 16.9 million in other long-term liabilities related to this obligation in the consolidated balance sheet . the term of the lease , which commenced in may 2008 , is for a period of approximately ten years with the option to extend for two consecutive 5-year terms . at the completion of the construction period , the company reviewed the lease for potential sale-leaseback treatment in accordance with asc 840 , subsection 40 , sale-leaseback transactions . based on its analysis , the company determined that the lease did not qualify for sale-leaseback treatment . therefore , the building , leasehold improvements and associated liabilities remain on the company 2019s financial statements throughout the lease term , and the building and leasehold improvements are being depreciated on a straight line basis over their estimated useful lives of 35 years . future minimum lease payments , including principal and interest , under this lease were as follows at september 24 , 2011: .
|fiscal 2012|$ 1616|
|fiscal 2013|1672|
|fiscal 2014|1731|
|fiscal 2015|1791|
|fiscal 2016|1854|
|thereafter|3643|
|total minimum payments|12307|
|less-amount representing interest|-4017 ( 4017 )|
|total|$ 8290|
the company also has to a non-cancelable lease agreement for a building with approximately 146000 square feet located in marlborough , massachusetts , to be principally used as an additional manufacturing facility . as part of the lease agreement , the lessor agreed to allow the company to make significant renovations to the facility to prepare the facility for the company 2019s manufacturing needs . the company was responsible for a significant amount of the construction costs and therefore in accordance with asc 840-40-15-5 was deemed to be the owner of the building during the construction period . the $ 13.2 million fair market value of the facility is included within property and equipment on the consolidated balance sheet . at september 24 , 2011 , the company has recorded $ 1.0 million in accrued expenses and $ 15.9 million in other long-term liabilities related to this obligation in the consolidated balance sheet . the term of the lease is for a period of approximately 12 years commencing on november 14 , 2006 with the option to extend for two consecutive 5-year terms . based on its asc 840-40 analysis , the company determined that the lease did not qualify for sale-leaseback treatment . therefore , the improvements and associated liabilities will remain on the company 2019s financial statements throughout the lease term , and the leasehold improvements are being depreciated on a straight line basis over their estimated useful lives of up to 35 years . source : hologic inc , 10-k , november 23 , 2011 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely . the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law . past financial performance is no guarantee of future results. .
Question: what portion of the total future minimum lease payments , including interest is due within the next 12 months?
Answer: | 0.13131 |
FINQA3250 | Please answer the given financial question based on the context.
Context: entergy gulf states , inc . management's financial discussion and analysis .
||( in millions )|
|2003 net revenue|$ 1110.1|
|volume/weather|26.7|
|net wholesale revenue|13.0|
|summer capacity charges|5.5|
|price applied to unbilled sales|4.8|
|fuel recovery revenues|-14.2 ( 14.2 )|
|other|3.9|
|2004 net revenue|$ 1149.8|
the volume/weather variance resulted primarily from an increase of 1179 gwh in electricity usage in the industrial sector . billed usage also increased a total of 291 gwh in the residential , commercial , and governmental sectors . the increase in net wholesale revenue is primarily due to an increase in sales volume to municipal and co-op customers . summer capacity charges variance is due to the amortization in 2003 of deferred capacity charges for the summer of 2001 compared to the absence of the amortization in 2004 . the amortization of these capacity charges began in june 2002 and ended in may 2003 . the price applied to unbilled sales variance resulted primarily from an increase in the fuel price applied to unbilled sales . fuel recovery revenues represent an under-recovery of fuel charges that are recovered in base rates . entergy gulf states recorded $ 22.6 million of provisions in 2004 for potential rate refunds . these provisions are not included in the net revenue table above because they are more than offset by provisions recorded in 2003 . gross operating revenues , fuel and purchased power expenses , and other regulatory credits gross operating revenues increased primarily due to an increase of $ 187.8 million in fuel cost recovery revenues as a result of higher fuel rates in both the louisiana and texas jurisdictions . the increases in volume/weather and wholesale revenue , discussed above , also contributed to the increase . fuel and purchased power expenses increased primarily due to : 2022 increased recovery of deferred fuel costs due to higher fuel rates ; 2022 increases in the market prices of natural gas , coal , and purchased power ; and 2022 an increase in electricity usage , discussed above . other regulatory credits increased primarily due to the amortization in 2003 of deferred capacity charges for the summer of 2001 compared to the absence of amortization in 2004 . the amortization of these charges began in june 2002 and ended in may 2003 . 2003 compared to 2002 net revenue , which is entergy gulf states' 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. .
Question: what is the percent change in net revenue from 2003 to 2004?
Answer: | 0.03576 |
FINQA3251 | Please answer the given financial question based on the context.
Context: abiomed , inc . and subsidiaries notes to consolidated financial statements 2014 ( continued ) evidence of an arrangement exists , ( 2 ) delivery has occurred or services have been rendered , ( 3 ) the seller 2019s price to the buyer is fixed or determinable , and ( 4 ) collectibility is reasonably assured . further , sab 104 requires that both title and the risks and rewards of ownership be transferred to the buyer before revenue can be recognized . in addition to sab 104 , we follow the guidance of eitf 00-21 , revenue arrangements with multiple deliverables . we derive our revenues primarily from product sales , including maintenance service agreements . the great majority of our product revenues are derived from shipments of our ab5000 and bvs 5000 product lines to fulfill customer orders for a specified number of consoles and/or blood pumps for a specified price . we recognize revenues and record costs related to such sales upon product shipment . maintenance and service support contract revenues are recognized ratably over the term of the service contracts based upon the elapsed term of the service contract . government-sponsored research and development contracts and grants generally provide for payment on a cost-plus-fixed-fee basis . revenues from these contracts and grants are recognized as work is performed , provided the government has appropriated sufficient funds for the work . under contracts in which the company elects to spend significantly more on the development project during the term of the contract than the total contract amount , the company prospectively recognizes revenue on such contracts ratably over the term of the contract as it incurs related research and development costs , provided the government has appropriated sufficient funds for the work . ( d ) translation of foreign currencies all assets and liabilities of the company 2019s non-u.s . subsidiaries are translated at year-end exchange rates , and revenues and expenses are translated at average exchange rates for the year in accordance with sfas no . 52 , foreign currency translation . resulting translation adjustments are reflected in the accumulated other comprehensive loss component of shareholders 2019 equity . currency transaction gains and losses are included in the accompanying statement of income and are not material for the three years presented . ( e ) warranties the company routinely accrues for estimated future warranty costs on its product sales at the time of sale . our products are subject to rigorous regulation and quality standards . warranty costs are included in cost of product revenues within the consolidated statements of operations . the following table summarizes the activities in the warranty reserve for the two fiscal years ended march 31 , 2006 ( in thousands ) .
||2005|2006|
|balance at the beginning of the year|$ 245|$ 231|
|accrual for warranties|198|193|
|warranty expense incurred for the year|-212 ( 212 )|-257 ( 257 )|
|balance at the end of the year|$ 231|$ 167|
.
Question: what was the net change in warranty obligations from the end of 2004 to 2006?
Answer: | 78000.0 |
FINQA3252 | Please answer the given financial question based on the context.
Context: jpmorgan chase & co./2009 annual report 181 the following table shows the current credit risk of derivative receivables after netting adjustments , and the current liquidity risk of derivative payables after netting adjustments , as of december 31 , 2009. .
|december 31 2009 ( in millions )|derivative receivables|derivative payables|
|gross derivative fair value|$ 1565518|$ 1519183|
|nettingadjustment 2013 offsetting receivables/payables|-1419840 ( 1419840 )|-1419840 ( 1419840 )|
|nettingadjustment 2013 cash collateral received/paid|-65468 ( 65468 )|-39218 ( 39218 )|
|carrying value on consolidated balance sheets|$ 80210|$ 60125|
in addition to the collateral amounts reflected in the table above , at december 31 , 2009 , the firm had received and posted liquid secu- rities collateral in the amount of $ 15.5 billion and $ 11.7 billion , respectively . the firm also receives and delivers collateral at the initiation of derivative transactions , which is available as security against potential exposure that could arise should the fair value of the transactions move in the firm 2019s or client 2019s favor , respectively . furthermore , the firm and its counterparties hold collateral related to contracts that have a non-daily call frequency for collateral to be posted , and collateral that the firm or a counterparty has agreed to return but has not yet settled as of the reporting date . at december 31 , 2009 , the firm had received $ 16.9 billion and delivered $ 5.8 billion of such additional collateral . these amounts were not netted against the derivative receivables and payables in the table above , because , at an individual counterparty level , the collateral exceeded the fair value exposure at december 31 , 2009 . 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 ) . credit derivatives expose the protection purchaser to the creditworthiness of the protection seller , as the protection seller is required to make payments under the contract when the reference entity experiences a credit event , such as a bankruptcy , a failure to pay its obligation or a restructuring . the seller of credit protection receives a premium for providing protection but has the risk that the underlying instrument referenced in the contract will be subject to a credit event . the firm is both a purchaser and seller of protection in the credit derivatives market and uses these derivatives for two primary purposes . first , in its capacity as a market-maker in the dealer/client business , the firm actively risk manages a portfolio of credit derivatives by purchasing and selling credit protection , pre- dominantly on corporate debt obligations , to meet the needs of customers . as a seller of protection , the firm 2019s exposure to a given reference entity may be offset partially , or entirely , with a contract to purchase protection from another counterparty on the same or similar reference entity . second , the firm uses credit derivatives to mitigate credit risk associated with its overall derivative receivables and traditional commercial credit lending exposures ( loans and unfunded commitments ) as well as to manage its exposure to residential and commercial mortgages . see note 3 on pages 156--- 173 of this annual report for further information on the firm 2019s mortgage-related exposures . in accomplishing the above , the firm uses different types of credit derivatives . following is a summary of various types of credit derivatives . credit default swaps credit derivatives may reference the credit of either a single refer- ence entity ( 201csingle-name 201d ) or a broad-based index , as described further below . the firm purchases and sells protection on both single- name and index-reference obligations . single-name cds and index cds contracts are both otc derivative contracts . single- name cds are used to manage the default risk of a single reference entity , while cds index are used to manage credit risk associated with the broader credit markets or credit market segments . like the s&p 500 and other market indices , a cds index is comprised of a portfolio of cds across many reference entities . new series of cds indices are established approximately every six months with a new underlying portfolio of reference entities to reflect changes in the credit markets . if one of the reference entities in the index experi- ences a credit event , then the reference entity that defaulted is removed from the index . cds can also be referenced against spe- cific portfolios of reference names or against customized exposure levels based on specific client demands : for example , to provide protection against the first $ 1 million of realized credit losses in a $ 10 million portfolio of exposure . such structures are commonly known as tranche cds . for both single-name cds contracts and index cds , upon the occurrence of a credit event , under the terms of a cds contract neither party to the cds contract has recourse to the reference entity . the protection purchaser has recourse to the protection seller for the difference between the face value of the cds contract and the fair value of the reference obligation at the time of settling the credit derivative contract , also known as the recovery value . the protection purchaser does not need to hold the debt instrument of the underlying reference entity in order to receive amounts due under the cds contract when a credit event occurs . credit-linked notes a credit linked note ( 201ccln 201d ) is a funded credit derivative where the issuer of the cln purchases credit protection on a referenced entity from the note investor . under the contract , the investor pays the issuer par value of the note at the inception of the transaction , and in return , the issuer pays periodic payments to the investor , based on the credit risk of the referenced entity . the issuer also repays the investor the par value of the note at maturity unless the reference entity experiences a specified credit event . in that event , the issuer is not obligated to repay the par value of the note , but rather , the issuer pays the investor the difference between the par value of the note .
Question: considering the year 2009 , what is the difference between the carrying value on consolidated balance sheets for derivative receivables and derivative payables , in millions?
Answer: | 20085.0 |
FINQA3253 | Please answer the given financial question based on the context.
Context: and $ 19 million of these expenses in 2011 and 2010 , respectively , with the remaining expense unallocated . the company financed the acquisition with the proceeds from a $ 1.0 billion three-year term loan credit facility , $ 1.5 billion in unsecured notes , and the issuance of 61 million shares of aon common stock . in addition , as part of the consideration , certain outstanding hewitt stock options were converted into options to purchase 4.5 million shares of aon common stock . these items are detailed further in note 8 2018 2018debt 2019 2019 and note 11 2018 2018stockholders 2019 equity 2019 2019 . the transaction has been accounted for using the acquisition method of accounting which requires , among other things , that most assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date . the following table summarizes the amounts recognized for assets acquired and liabilities assumed as of the acquisition date ( in millions ) : amounts recorded as of the acquisition .
||amountsrecorded as ofthe acquisitiondate|
|working capital ( 1 )|$ 348|
|property equipment and capitalized software|297|
|identifiable intangible assets:||
|customer relationships|1800|
|trademarks|890|
|technology|215|
|other noncurrent assets ( 2 )|344|
|long-term debt|346|
|other noncurrent liabilities ( 3 )|360|
|net deferred tax liability ( 4 )|1021|
|net assets acquired|2167|
|goodwill|2765|
|total consideration transferred|$ 4932|
( 1 ) includes cash and cash equivalents , short-term investments , client receivables , other current assets , accounts payable and other current liabilities . ( 2 ) includes primarily deferred contract costs and long-term investments . ( 3 ) includes primarily unfavorable lease obligations and deferred contract revenues . ( 4 ) included in other current assets ( $ 31 million ) , deferred tax assets ( $ 30 million ) , other current liabilities ( $ 7 million ) and deferred tax liabilities ( $ 1.1 billion ) in the company 2019s consolidated statements of financial position . the acquired customer relationships are being amortized over a weighted average life of 12 years . the technology asset is being amortized over 7 years and trademarks have been determined to have indefinite useful lives . goodwill is calculated as the excess of the acquisition cost over the fair value of the net assets acquired and represents the synergies and other benefits that are expected to arise from combining the operations of hewitt with the operations of aon , and the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized . goodwill is not amortized and is not deductible for tax purposes . a single estimate of fair value results from a complex series of the company 2019s judgments about future events and uncertainties and relies heavily on estimates and assumptions . the company 2019s .
Question: what is the total value of identified intangible assets?
Answer: | 2905.0 |
FINQA3254 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 19 . subsequent events 12.25% ( 12.25 % ) senior subordinated discount notes and warrants offering 2014in january 2003 , the company issued 808000 units , each consisting of ( 1 ) $ 1000 principal amount at maturity of the 12.25% ( 12.25 % ) senior subordinated discount notes due 2008 of a wholly owned subsidiary of the company ( ati notes ) and ( 2 ) a warrant to purchase 14.0953 shares of class a common stock of the company , for gross proceeds of $ 420.0 million . the gross offering proceeds were allocated between the ati notes ( $ 367.4 million ) and the fair value of the warrants ( $ 52.6 million ) . net proceeds from the offering aggregated approximately $ 397.0 million and were or will be used for the purposes described below under amended and restated loan agreement . the ati notes accrue no cash interest . instead , the accreted value of each ati note will increase between the date of original issuance and maturity ( august 1 , 2008 ) at a rate of 12.25% ( 12.25 % ) per annum . the 808000 warrants that were issued together with the ati notes each represent the right to purchase 14.0953 shares of class a common stock at $ 0.01 per share . the warrants are exercisable at any time on or after january 29 , 2006 and will expire on august 1 , 2008 . as of the issuance date , the warrants represented approximately 5.5% ( 5.5 % ) of the company 2019s outstanding common stock ( assuming exercise of all warrants ) . the indenture governing the ati notes contains covenants that , among other things , limit the ability of the issuer subsidiary and its guarantors to incur or guarantee additional indebtedness , create liens , pay dividends or make other equity distributions , enter into agreements restricting the restricted subsidiaries 2019 ability to pay dividends , purchase or redeem capital stock , make investments and sell assets or consolidate or merge with or into other companies . the ati notes rank junior in right of payment to all existing and future senior indebtedness , including all indebtedness outstanding under the credit facilities , and are structurally senior in right of payment to all existing and future indebtedness of the company . amended and restated loan agreement 2014on february 21 , 2003 , the company completed an amendment to its credit facilities . the amendment provides for the following : 2022 prepayment of a portion of outstanding term loans . the company agreed to prepay an aggregate of $ 200.0 million of the term loans outstanding under the credit facilities from a portion of the net proceeds of the ati notes offering completed in january 2003 . this prepayment consisted of a $ 125.0 million prepayment of the term loan a and a $ 75.0 million prepayment of the term loan b , each to be applied to reduce future scheduled principal payments . giving effect to the prepayment of $ 200.0 million of term loans under the credit facility and the issuance of the ati notes as discussed above as well as the paydown of debt from net proceeds of the sale of mtn ( $ 24.5 million in february 2003 ) , the company 2019s aggregate principal payments of long- term debt , including capital leases , for the next five years and thereafter are as follows ( in thousands ) : year ending december 31 .
|2003|$ 268496|
|2004|131262|
|2005|195082|
|2006|538479|
|2007|1065437|
|thereafter|1408783|
|total|$ 3607539|
.
Question: what is the total expected payments for principal of long- term debt , including capital leases in the next 36 months?
Answer: | 594840.0 |
FINQA3255 | Please answer the given financial question based on the context.
Context: packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2005 9 . shareholders 2019 equity ( continued ) stockholder received proceeds , net of the underwriting discount , of $ 20.69 per share . the company did not sell any shares in , or receive any proceeds from , the secondary offering . concurrent with the closing of the secondary offering on december 21 , 2005 , the company entered into a common stock repurchase agreement with pca holdings llc . pursuant to the repurchase agreement , the company purchased 4500000 shares of common stock directly from pca holdings llc at the initial price to the public net of the underwriting discount or $ 20.69 per share , the same net price per share received by pca holdings llc in the secondary offering . these shares were retired on december 21 , 2005 . 10 . commitments and contingencies capital commitments the company had authorized capital expenditures of approximately $ 33.1 million and $ 55.2 million as of december 31 , 2005 and 2004 , respectively , in connection with the expansion and replacement of existing facilities and equipment . operating leases pca leases space for certain of its facilities and cutting rights to approximately 108000 acres of timberland under long-term leases . the company also leases equipment , primarily vehicles and rolling stock , and other assets under long-term leases of a duration generally of three years . the minimum lease payments under non-cancelable operating leases with lease terms in excess of one year are as follows : ( in thousands ) .
|2006|$ 24569|
|2007|21086|
|2008|14716|
|2009|9801|
|2010|6670|
|thereafter|37130|
|total|$ 113972|
capital lease obligations were not significant to the accompanying financial statements . total lease expense , including base rent on all leases and executory costs , such as insurance , taxes , and maintenance , for the years ended december 31 , 2005 , 2004 and 2003 was $ 35.8 million , $ 33.0 million and $ 31.6 million , respectively . these costs are included in cost of goods sold and selling and administrative expenses. .
Question: what was the percentage change in total lease expense , including base rent on all leases and executory costs , such as insurance , taxes , and maintenance from 2003 to 2004?
Answer: | 0.0443 |
FINQA3256 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 161 fifth third bancorp as of december 31 , 2012 ( $ in millions ) significant unobservable ranges of financial instrument fair value valuation technique inputs inputs weighted-average commercial loans held for sale $ 9 appraised value appraised value nm nm cost to sell nm 10.0% ( 10.0 % ) commercial and industrial loans 83 appraised value default rates 100% ( 100 % ) nm collateral value nm nm commercial mortgage loans 46 appraised value default rates 100% ( 100 % ) nm collateral value nm nm commercial construction loans 4 appraised value default rates 100% ( 100 % ) nm collateral value nm nm msrs 697 discounted cash flow prepayment speed 0 - 100% ( 100 % ) ( fixed ) 16.1% ( 16.1 % ) ( adjustable ) 26.9% ( 26.9 % ) discount rates 9.4 - 18.0% ( 18.0 % ) ( fixed ) 10.5% ( 10.5 % ) ( adjustable ) 11.7% ( 11.7 % ) .
|financial instrument|fair value|valuation technique|significant unobservableinputs|ranges ofinputs|weighted-average|
|commercial loans held for sale|$ 9|appraised value|appraised valuecost to sell|nmnm|nm10.0% ( nm10.0 % )|
|commercial and industrial loans|83|appraised value|default ratescollateral value|100%nm|nmnm|
|commercial mortgage loans|46|appraised value|default ratescollateral value|100%nm|nmnm|
|commercial construction loans|4|appraised value|default ratescollateral value|100%nm|nmnm|
|msrs|697|discounted cash flow|prepayment speeddiscount rates|0 - 100%9.4 - 18.0% ( 18.0 % )|( fixed ) 16.1% ( 16.1 % ) ( adjustable ) 26.9% ( 26.9 % ) ( fixed ) 10.5% ( 10.5 % ) ( adjustable ) 11.7% ( 11.7 % )|
|oreo|165|appraised value|appraised value|nm|nm|
commercial loans held for sale during 2013 and 2012 , the bancorp transferred $ 5 million and $ 16 million , respectively , of commercial loans from the portfolio to loans held for sale that upon transfer were measured at fair value using significant unobservable inputs . these loans had fair value adjustments in 2013 and 2012 totaling $ 4 million and $ 1 million , respectively , and were generally based on appraisals of the underlying collateral and were therefore , classified within level 3 of the valuation hierarchy . additionally , during 2013 and 2012 there were fair value adjustments on existing commercial loans held for sale of $ 3 million and $ 12 million , respectively . the fair value adjustments were also based on appraisals of the underlying collateral and were therefore classified within level 3 of the valuation hierarchy . an adverse change in the fair value of the underlying collateral would result in a decrease in the fair value measurement . the accounting department determines the procedures for valuation of commercial hfs loans which may include a comparison to recently executed transactions of similar type loans . a monthly review of the portfolio is performed for reasonableness . quarterly , appraisals approaching a year old are updated and the real estate valuation group , which reports to the chief risk and credit officer , in conjunction with the commercial line of business review the third party appraisals for reasonableness . additionally , the commercial line of business finance department , which reports to the bancorp chief financial officer , in conjunction with accounting review all loan appraisal values , carrying values and vintages . commercial loans held for investment during 2013 and 2012 , the bancorp recorded nonrecurring impairment adjustments to certain commercial and industrial , commercial mortgage and commercial construction loans held for investment . larger commercial loans included within aggregate borrower relationship balances exceeding $ 1 million that exhibit probable or observed credit weaknesses are subject to individual review for impairment . the bancorp considers the current value of collateral , credit quality of any guarantees , the guarantor 2019s liquidity and willingness to cooperate , the loan structure and other factors when evaluating whether an individual loan is impaired . when the loan is collateral dependent , the fair value of the loan is generally based on the fair value of the underlying collateral supporting the loan and therefore these loans were classified within level 3 of the valuation hierarchy . in cases where the carrying value exceeds the fair value , an impairment loss is recognized . an adverse change in the fair value of the underlying collateral would result in a decrease in the fair value measurement . the fair values and recognized impairment losses are reflected in the previous table . commercial credit risk , which reports to the chief risk and credit officer , is responsible for preparing and reviewing the fair value estimates for commercial loans held for investment . mortgage interest rates increased during the year ended december 31 , 2013 and the bancorp recognized a recovery of temporary impairment on servicing rights . the bancorp recognized temporary impairments in certain classes of the msr portfolio during the year ended december 31 , 2012 and the carrying value was adjusted to the fair value . msrs do not trade in an active , open market with readily observable prices . while sales of msrs do occur , the precise terms and conditions typically are not readily available . accordingly , the bancorp estimates the fair value of msrs using internal discounted cash flow models with certain unobservable inputs , primarily prepayment speed assumptions , discount rates and weighted average lives , resulting in a classification within level 3 of the valuation hierarchy . refer to note 11 for further information on the assumptions used in the valuation of the bancorp 2019s msrs . the secondary marketing department and treasury department are responsible for determining the valuation methodology for msrs . representatives from secondary marketing , treasury , accounting and risk management are responsible for reviewing key assumptions used in the internal discounted cash flow model . two external valuations of the msr portfolio are obtained from third parties that use valuation models in order to assess the reasonableness of the internal discounted cash flow model . additionally , the bancorp participates in peer surveys that provide additional confirmation of the reasonableness of key assumptions utilized in the msr valuation process and the resulting msr prices . during 2013 and 2012 , the bancorp recorded nonrecurring adjustments to certain commercial and residential real estate properties classified as oreo and measured at the lower of carrying amount or fair value . these nonrecurring losses are primarily due to declines in real estate values of the properties recorded in oreo . for the years ended december 31 , 2013 and 2012 , these losses include $ 19 million and $ 17 million , respectively , recorded as charge-offs , on new oreo properties transferred from loans during the respective periods and $ 26 million and $ 57 million , respectively , recorded as negative fair value adjustments on oreo in other noninterest income subsequent to their transfer from loans . as discussed in the following paragraphs , the fair value amounts are generally based on appraisals of the property values , resulting in a .
Question: during 2013 , what were total losses in millions for charge-offs on new oreo properties and negative fair value adjustments on existing oreo properties?
Answer: | 45.0 |
FINQA3257 | Please answer the given financial question based on the context.
Context: securities have historically returned approximately 10% ( 10 % ) annually over long periods of time , while u.s . debt securities have returned approximately 6% ( 6 % ) annually over long periods . application of these historical returns to the plan 2019s allocation ranges for equities and bonds produces a result between 7.25% ( 7.25 % ) and 8.75% ( 8.75 % ) and is one point of reference , among many other factors , that is taken into consideration . we also examine the plan 2019s actual historical returns over various periods and consider the current economic environment . recent experience is considered in our evaluation with appropriate consideration that , especially for short time periods , recent returns are not reliable indicators of future returns . while annual returns can vary significantly ( actual returns for 2012 , 2011 , and 2010 were +15.29% ( +15.29 % ) , +.11% ( +.11 % ) , and +14.87% ( +14.87 % ) , respectively ) , the selected assumption represents our estimated long-term average prospective returns . acknowledging the potentially wide range for this assumption , we also annually examine the assumption used by other companies with similar pension investment strategies , so that we can ascertain whether our determinations markedly differ from others . in all cases , however , this data simply informs our process , which places the greatest emphasis on our qualitative judgment of future investment returns , given the conditions existing at each annual measurement date . taking into consideration all of these factors , the expected long-term return on plan assets for determining net periodic pension cost for 2012 was 7.75% ( 7.75 % ) , the same as it was for 2011 . after considering the views of both internal and external capital market advisors , particularly with regard to the effects of the recent economic environment on long-term prospective fixed income returns , we are reducing our expected long-term return on assets to 7.50% ( 7.50 % ) for determining pension cost for under current accounting rules , the difference between expected long-term returns and actual returns is accumulated and amortized to pension expense over future periods . each one percentage point difference in actual return compared with our expected return causes expense in subsequent years to increase or decrease by up to $ 8 million as the impact is amortized into results of operations . we currently estimate a pretax pension expense of $ 73 million in 2013 compared with pretax expense of $ 89 million in 2012 . this year-over-year expected decrease reflects the impact of favorable returns on plan assets experienced in 2012 as well as the effects of the lower discount rate required to be used in the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2013 estimated expense as a baseline . table 27 : pension expense - sensitivity analysis change in assumption ( a ) estimated increase to 2013 pension expense ( in millions ) .
|change in assumption ( a )|estimatedincrease to 2013pensionexpense ( in millions )|
|.5% ( .5 % ) decrease in discount rate|$ 21|
|.5% ( .5 % ) decrease in expected long-term return on assets|$ 19|
|.5% ( .5 % ) increase in compensation rate|$ 2|
( a ) the impact is the effect of changing the specified assumption while holding all other assumptions constant . our pension plan contribution requirements are not particularly sensitive to actuarial assumptions . investment performance has the most impact on contribution requirements and will drive the amount of required contributions in future years . also , current law , including the provisions of the pension protection act of 2006 , sets limits as to both minimum and maximum contributions to the plan . we do not expect to be required by law to make any contributions to the plan during 2013 . we maintain other defined benefit plans that have a less significant effect on financial results , including various nonqualified supplemental retirement plans for certain employees , which are described more fully in note 15 employee benefit plans in the notes to consolidated financial statements in item 8 of this report . the pnc financial services group , inc . 2013 form 10-k 77 .
Question: for 2013 , did a .5% ( .5 % ) decrease in discount rate have a greater effect than a .5% ( .5 % ) decrease in expected long-term return on assets?
Answer: | yes |
FINQA3258 | Please answer the given financial question based on the context.
Context: amount of commitment expiration per period other commercial commitments after millions of dollars total 2010 2011 2012 2013 2014 2014 .
|other commercial commitmentsmillions of dollars|total|amount of commitment expiration per period 2010|amount of commitment expiration per period 2011|amount of commitment expiration per period 2012|amount of commitment expiration per period 2013|amount of commitment expiration per period 2014|amount of commitment expiration per period after 2014|
|credit facilities [a]|$ 1900|$ -|$ -|$ 1900|$ -|$ -|$ -|
|sale of receivables [b]|600|600|-|-|-|-|-|
|guarantees [c]|416|29|76|24|8|214|65|
|standby letters of credit [d]|22|22|-|-|-|-|-|
|total commercial commitments|$ 2938|$ 651|$ 76|$ 1924|$ 8|$ 214|$ 65|
[a] none of the credit facility was used as of december 31 , 2009 . [b] $ 400 million of the sale of receivables program was utilized at december 31 , 2009 . [c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . [d] none of the letters of credit were drawn upon as of december 31 , 2009 . off-balance sheet arrangements sale of receivables 2013 the railroad transfers most of its accounts receivable to union pacific receivables , inc . ( upri ) , a bankruptcy-remote subsidiary , as part of a sale of receivables facility . upri sells , without recourse on a 364-day revolving basis , an undivided interest in such accounts receivable to investors . the total capacity to sell undivided interests to investors under the facility was $ 600 million and $ 700 million at december 31 , 2009 and 2008 , respectively . the value of the outstanding undivided interest held by investors under the facility was $ 400 million and $ 584 million at december 31 , 2009 and 2008 , respectively . during 2009 , upri reduced the outstanding undivided interest held by investors due to a decrease in available receivables . the value of the undivided interest held by investors is not included in our consolidated financial statements . the value of the undivided interest held by investors was supported by $ 817 million and $ 1015 million of accounts receivable held by upri at december 31 , 2009 and 2008 , respectively . at december 31 , 2009 and 2008 , the value of the interest retained by upri was $ 417 million and $ 431 million , respectively . this retained interest is included in accounts receivable in our consolidated financial statements . the interest sold to investors is sold at carrying value , which approximates fair value , and there is no gain or loss recognized from the transaction . the value of the outstanding undivided interest held by investors could fluctuate based upon the availability of eligible receivables and is directly affected by changing business volumes and credit risks , including default and dilution . if default or dilution ratios increase one percent , the value of the outstanding undivided interest held by investors would not change as of december 31 , 2009 . should our credit rating fall below investment grade , the value of the outstanding undivided interest held by investors would be reduced , and , in certain cases , the investors would have the right to discontinue the facility . the railroad services the sold receivables ; however , the railroad does not recognize any servicing asset or liability , as the servicing fees adequately compensate us for these responsibilities . the railroad collected approximately $ 13.8 billion and $ 17.8 billion during the years ended december 31 , 2009 and 2008 , respectively . upri used certain of these proceeds to purchase new receivables under the facility . the costs of the sale of receivables program are included in other income and were $ 9 million , $ 23 million , and $ 35 million for 2009 , 2008 , and 2007 , respectively . the costs include interest , which will vary based on prevailing commercial paper rates , program fees paid to banks , commercial paper issuing costs , and fees for unused commitment availability . the decrease in the 2009 costs was primarily attributable to lower commercial paper rates and a decrease in the outstanding interest held by investors. .
Question: using the value of the undivided interest held by investors and retained by upri at december 31 , 2009 as a proxy for ar balance , what was the average receivable turnover in 2009?\\n\\n[14] : at december 31 , 2009 and 2008 , the value of the interest retained by upri was $ 417 million and $ 431 million , respectively .
Answer: | 11.18314 |
FINQA3259 | Please answer the given financial question based on the context.
Context: page 31 of 98 additional details about the company 2019s receivables sales agreement and debt are available in notes 6 and 12 , respectively , accompanying the consolidated financial statements within item 8 of this report . other liquidity items cash payments required for long-term debt maturities , rental payments under noncancellable operating leases and purchase obligations in effect at december 31 , 2006 , 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 than 5 years|
|long-term debt|$ 2301.6|$ 38.5|$ 278.4|$ 972.9|$ 1011.8|
|capital lease obligations|7.6|2.7|2.4|0.4|2.1|
|interest payments on long-term debt ( b )|826.5|138.8|259.4|204.8|223.5|
|operating leases|185.9|45.0|58.5|38.7|43.7|
|purchase obligations ( c )|7450.4|2682.5|3169.4|1524.6|73.9|
|total payments on contractual obligations|$ 10772.0|$ 2907.5|$ 3768.1|$ 2741.4|$ 1355.0|
total payments on contractual obligations $ 10772.0 $ 2907.5 $ 3768.1 $ 2741.4 $ 1355.0 ( a ) amounts reported in local currencies have been translated at the year-end exchange rates . ( b ) for variable rate facilities , amounts are based on interest rates in effect at year end . ( c ) the company 2019s purchase obligations include contracted amounts for aluminum , steel , plastic resin 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 not result in penalties and , therefore , actual payments could vary significantly . contributions to the company 2019s defined benefit pension plans , not including the unfunded german plans , are expected to be $ 69.1 million in 2007 . this estimate may change based on plan asset performance . benefit payments related to these plans are expected to be $ 62.6 million , $ 65.1 million , $ 68.9 million , $ 73.9 million and $ 75.1 million for the years ending december 31 , 2007 through 2011 , respectively , and $ 436.7 million combined for 2012 through 2016 . payments to participants in the unfunded german plans are expected to be $ 24.6 million , $ 25.1 million , $ 25.5 million , $ 25.9 million and $ 26.1 million in the years 2007 through 2011 , respectively , and a total of $ 136.6 million thereafter . we reduced our 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 2007 we expect to repurchase approximately $ 175 million , net of issuances , and to reduce debt levels by more than $ 125 million . annual cash dividends paid on common stock were 40 cents per share in 2006 and 2005 and 35 cents per share in 2004 . total dividends paid were $ 41 million in 2006 , $ 42.5 million in 2005 and $ 38.9 million in 2004. .
Question: what percentage of total payments on contractual obligations are due to long-term debt at december 301 , 2006?
Answer: | 0.21367 |
FINQA3260 | Please answer the given financial question based on the context.
Context: 112 / sl green realty corp . 2017 annual report 20 . commitments and contingencies legal proceedings as of december a031 , 2017 , the company and the operating partnership were not involved in any material litigation nor , to management 2019s knowledge , was any material litigation threat- ened against us or our portfolio which if adversely determined could have a material adverse impact on us . environmental matters our management believes that the properties are in compliance in all material respects with applicable federal , state and local ordinances and regulations regarding environmental issues . management is not aware of any environmental liability that it believes would have a materially adverse impact on our financial position , results of operations or cash flows . management is unaware of any instances in which it would incur significant envi- ronmental cost if any of our properties were sold . employment agreements we have entered into employment agreements with certain exec- utives , which expire between december a02018 and february a02020 . the minimum cash-based compensation , including base sal- ary and guaranteed bonus payments , associated with these employment agreements total $ 5.4 a0million for 2018 . in addition these employment agreements provide for deferred compen- sation awards based on our stock price and which were valued at $ 1.6 a0million on the grant date . the value of these awards may change based on fluctuations in our stock price . insurance we maintain 201call-risk 201d property and rental value coverage ( includ- ing coverage regarding the perils of flood , earthquake and terrorism , excluding nuclear , biological , chemical , and radiological terrorism ( 201cnbcr 201d ) ) , within three property insurance programs and liability insurance . separate property and liability coverage may be purchased on a stand-alone basis for certain assets , such as the development of one vanderbilt . additionally , our captive insurance company , belmont insurance company , or belmont , pro- vides coverage for nbcr terrorist acts above a specified trigger , although if belmont is required to pay a claim under our insur- ance policies , we would ultimately record the loss to the extent of belmont 2019s required payment . however , there is no assurance that in the future we will be able to procure coverage at a reasonable cost . further , if we experience losses that are uninsured or that exceed policy limits , we could lose the capital invested in the damaged properties as well as the anticipated future cash flows from those plan trustees adopted a rehabilitation plan consistent with this requirement . no surcharges have been paid to the pension plan as of december a031 , 2017 . for the pension plan years ended june a030 , 2017 , 2016 , and 2015 , the plan received contributions from employers totaling $ 257.8 a0million , $ 249.5 a0million , and $ 221.9 a0million . our contributions to the pension plan represent less than 5.0% ( 5.0 % ) of total contributions to the plan . the health plan was established under the terms of collective bargaining agreements between the union , the realty advisory board on labor relations , inc . and certain other employees . the health plan provides health and other benefits to eligible participants employed in the building service industry who are covered under collective bargaining agreements , or other writ- ten agreements , with the union . the health plan is administered by a board of trustees with equal representation by the employ- ers and the union and operates under employer identification number a013-2928869 . the health plan receives contributions in accordance with collective bargaining agreements or participa- tion agreements . generally , these agreements provide that the employers contribute to the health plan at a fixed rate on behalf of each covered employee . for the health plan years ended , june a030 , 2017 , 2016 , and 2015 , the plan received contributions from employers totaling $ 1.3 a0billion , $ 1.2 a0billion and $ 1.1 a0billion , respectively . our contributions to the health plan represent less than 5.0% ( 5.0 % ) of total contributions to the plan . contributions we made to the multi-employer plans for the years ended december a031 , 2017 , 2016 and 2015 are included in the table below ( in thousands ) : .
|benefit plan|2017|2016|2015|
|pension plan|$ 3856|$ 3979|$ 2732|
|health plan|11426|11530|8736|
|other plans|1463|1583|5716|
|total plan contributions|$ 16745|$ 17092|$ 17184|
401 ( k ) plan in august a01997 , we implemented a 401 ( k ) a0savings/retirement plan , or the 401 ( k ) a0plan , to cover eligible employees of ours , and any designated affiliate . the 401 ( k ) a0plan permits eligible employees to defer up to 15% ( 15 % ) of their annual compensation , subject to certain limitations imposed by the code . the employees 2019 elective deferrals are immediately vested and non-forfeitable upon contribution to the 401 ( k ) a0plan . during a02003 , we amended our 401 ( k ) a0plan to pro- vide for discretionary matching contributions only . for 2017 , 2016 and 2015 , a matching contribution equal to 50% ( 50 % ) of the first 6% ( 6 % ) of annual compensation was made . for the year ended december a031 , 2017 , we made a matching contribution of $ 728782 . for the years ended december a031 , 2016 and 2015 , we made matching contribu- tions of $ 566000 and $ 550000 , respectively. .
Question: what was the percentage increase in the pension plan contributions from 2015 to 2016
Answer: | 0.12438 |
FINQA3261 | Please answer the given financial question based on the context.
Context: note 11 . commitments and contingencies commitments leases the company fffds corporate headquarters is located in danvers , massachusetts . this facility encompasses most of the company fffds u.s . operations , including research and development , manufacturing , sales and marketing and general and administrative departments . in october 2017 , the acquired its corporate headquarters for approximately $ 16.5 million and terminated its existing lease arrangement ( see note 6 ) . future minimum lease payments under non-cancelable leases as of march 31 , 2018 are approximately as follows : fiscal years ending march 31 , operating leases ( in $ 000s ) .
|fiscal years ending march 31,|operating leases ( in $ 000s )|
|2019|$ 2078|
|2020|1888|
|2021|1901|
|2022|1408|
|2023|891|
|thereafter|1923|
|total minimum lease payments|$ 10089|
in february 2017 , the company entered into a lease agreement for an additional 21603 square feet of office space in danvers , massachusetts which expires on july 31 , 2022 . in december 2017 , the company entered into an amendment to this lease to extend the term through august 31 , 2025 and to add an additional 6607 square feet of space in which rent would begin around june 1 , 2018 . the amendment also allows the company a right of first offer to purchase the property from january 1 , 2018 through august 31 , 2035 , if the lessor decides to sell the building or receives an offer to purchase the building from a third-party buyer . in march 2018 , the company entered into an amendment to the lease to add an additional 11269 square feet of space for which rent will begin on or around june 1 , 2018 through august 31 , 2025 . the annual rent expense for this lease agreement is estimated to be $ 0.4 million . in september 2016 , the company entered into a lease agreement in berlin , germany which commenced in may 2017 and expires in may 2024 . the annual rent expense for the lease is estimated to be $ 0.3 million . in october 2016 , the company entered into a lease agreement for an office in tokyokk japan and expires in september 2021 . the office houses administrative , regulatory , and training personnel in connection with the company fffds commercial launch in japan . the annual rent expense for the lease is estimated to be $ 0.9 million . license agreements in april 2014 , the company entered into an exclusive license agreement for the rights to certain optical sensor technologies in the field of cardio-circulatory assist devices . pursuant to the terms of the license agreement , the company agreed to make potential payments of $ 6.0 million . through march 31 , 2018 , the company has made $ 3.5 million in milestones payments which included a $ 1.5 million upfront payment upon the execution of the agreement . any potential future milestone payment amounts have not been included in the contractual obligations table above due to the uncertainty related to the successful achievement of these milestones . contingencies from time to time , the company is involved in legal and administrative proceedings and claims of various types . in some actions , the claimants seek damages , as well as other relief , which , if granted , would require significant expenditures . the company records a liability in its consolidated financial statements for these matters when a loss is known or considered probable and the amount can be reasonably estimated . the company reviews these estimates each accounting period as additional information is known and adjusts the loss provision when appropriate . if a matter is both probable to result in liability and the amount of loss can be reasonably estimated , the company estimates and discloses the possible loss or range of loss . if the loss is not probable or cannot be reasonably estimated , a liability is not recorded in its consolidated financial statements. .
Question: what percent of non-cancelable future minimum lease payments are due after 5 years?\\n\\n
Answer: | 0.1906 |
FINQA3262 | Please answer the given financial question based on the context.
Context: hlikk has four revolving credit facilities in support of operations . two of the credit facilities have no amounts drawn as of december 31 , 2013 with borrowing limits of approximately a55 billion , or $ 48 each , and individually have expiration dates of january 5 , 2015 and september 30 , 2014 . in december 2013 , hlikk entered into two new revolving credit facility agreements with two japanese banks in order to finance certain withholding taxes on mutual fund gains , that are subsequently credited when hlikk files its 2019 income tax returns . at december 31 , 2013 , hlikk had drawn the total borrowing limits of a55 billion , or $ 48 , and a520 billion , or $ 190 on these credit facilities . the a55 billion credit facility accrues interest at a variable rate based on the one month tokyo interbank offering rate ( tibor ) plus 3 bps , which as of december 31 , 2013 the interest rate was 15 bps , and the a520 billion credit facility accrues interest at a variable rate based on tibor plus 3 bps , or the actual cost of funding , which as of december 31 , 2013 the interest rate was 20 bps . both of the credit facilities expire on september 30 , 2014 . derivative commitments certain of the company 2019s derivative agreements contain provisions that are tied to the financial strength ratings of the individual legal entity that entered into the derivative agreement as set by nationally recognized statistical rating agencies . if the legal entity 2019s financial strength were to fall below certain ratings , the counterparties to the derivative agreements could demand immediate and ongoing full collateralization and in certain instances demand immediate settlement of all outstanding derivative positions traded under each impacted bilateral agreement . the settlement amount is determined by netting the derivative positions transacted under each agreement . if the termination rights were to be exercised by the counterparties , it could impact the legal entity 2019s ability to conduct hedging activities by increasing the associated costs and decreasing the willingness of counterparties to transact with the legal entity . the aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a net liability position as of december 31 , 2013 was $ 1.2 billion . of this $ 1.2 billion the legal entities have posted collateral of $ 1.4 billion in the normal course of business . in addition , the company has posted collateral of $ 44 associated with a customized gmwb derivative . based on derivative market values as of december 31 , 2013 , a downgrade of one level below the current financial strength ratings by either moody 2019s or s&p could require approximately an additional $ 12 to be posted as collateral . based on derivative market values as of december 31 , 2013 , a downgrade by either moody 2019s or s&p of two levels below the legal entities 2019 current financial strength ratings could require approximately an additional $ 33 of assets to be posted as collateral . these collateral amounts could change as derivative market values change , as a result of changes in our hedging activities or to the extent changes in contractual terms are negotiated . the nature of the collateral that we would post , if required , would be primarily in the form of u.s . treasury bills , u.s . treasury notes and government agency securities . as of december 31 , 2013 , the aggregate notional amount and fair value of derivative relationships that could be subject to immediate termination in the event of rating agency downgrades to either bbb+ or baa1 was $ 536 and $ ( 17 ) , respectively . insurance operations current and expected patterns of claim frequency and severity or surrenders may change from period to period but continue to be within historical norms and , therefore , the company 2019s insurance operations 2019 current liquidity position is considered to be sufficient to meet anticipated demands over the next twelve months , including any obligations related to the company 2019s restructuring activities . for a discussion and tabular presentation of the company 2019s current contractual obligations by period , refer to off-balance sheet arrangements and aggregate contractual obligations within the capital resources and liquidity section of the md&a . the principal sources of operating funds are premiums , fees earned from assets under management and investment income , while investing cash flows originate from maturities and sales of invested assets . the primary uses of funds are to pay claims , claim adjustment expenses , commissions and other underwriting expenses , to purchase new investments and to make dividend payments to the hfsg holding company . the company 2019s insurance operations consist of property and casualty insurance products ( collectively referred to as 201cproperty & casualty operations 201d ) and life insurance and legacy annuity products ( collectively referred to as 201clife operations 201d ) . property & casualty operations property & casualty operations holds fixed maturity securities including a significant short-term investment position ( securities with maturities of one year or less at the time of purchase ) to meet liquidity needs . as of december 31 , 2013 , property & casualty operations 2019 fixed maturities , short-term investments , and cash are summarized as follows: .
|fixed maturities|$ 24704|
|short-term investments|984|
|cash|189|
|less : derivative collateral|241|
|total|$ 25636|
.
Question: what percent of total amount is held as cash?
Answer: | 0.00737 |
FINQA3263 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis of financial condition and results of operations in 2008 , asp was flat compared to 2007 . by comparison , asp decreased approximately 9% ( 9 % ) in 2007 and decreased approximately 11% ( 11 % ) in 2006 . the segment has several large customers located throughout the world . in 2008 , aggregate net sales to the segment 2019s five largest customers accounted for approximately 41% ( 41 % ) of the segment 2019s net sales . besides selling directly to carriers and operators , the segment also sells products through a variety of third-party distributors and retailers , which accounted for approximately 24% ( 24 % ) of the segment 2019s net sales in 2008 . although the u.s . market continued to be the segment 2019s largest individual market , many of our customers , and 56% ( 56 % ) of the segment 2019s 2008 net sales , were outside the u.s . in 2008 , the largest of these international markets were brazil , china and mexico . as the segment 2019s revenue transactions are largely denominated in local currencies , we are impacted by the weakening in the value of these local currencies against the u.s . dollar . a number of our more significant international markets , particularly in latin america , were impacted by this trend in late 2008 . home and networks mobility segment the home and networks mobility segment designs , manufactures , sells , installs and services : ( i ) digital video , internet protocol video and broadcast network interactive set-tops , end-to-end video distribution systems , broadband access infrastructure platforms , and associated data and voice customer premise equipment to cable television and telecom service providers ( collectively , referred to as the 2018 2018home business 2019 2019 ) , and ( ii ) wireless access systems , including cellular infrastructure systems and wireless broadband systems , to wireless service providers ( collectively , referred to as the 2018 2018network business 2019 2019 ) . in 2009 , the segment 2019s net sales represented 36% ( 36 % ) of the company 2019s consolidated net sales , compared to 33% ( 33 % ) in 2008 and 27% ( 27 % ) in 2007 . years ended december 31 percent change ( dollars in millions ) 2009 2008 2007 2009 20142008 2008 20142007 .
|( dollars in millions )|years ended december 31 2009|years ended december 31 2008|years ended december 31 2007|years ended december 31 2009 20142008|2008 20142007|
|segment net sales|$ 7963|$ 10086|$ 10014|( 21 ) % ( % )|1% ( 1 % )|
|operating earnings|558|918|709|( 39 ) % ( % )|29% ( 29 % )|
segment results 20142009 compared to 2008 in 2009 , the segment 2019s net sales were $ 8.0 billion , a decrease of 21% ( 21 % ) compared to net sales of $ 10.1 billion in 2008 . the 21% ( 21 % ) decrease in net sales reflects a 22% ( 22 % ) decrease in net sales in the networks business and a 21% ( 21 % ) decrease in net sales in the home business . the 22% ( 22 % ) decrease in net sales in the networks business was primarily driven by lower net sales of gsm , cdma , umts and iden infrastructure equipment , partially offset by higher net sales of wimax products . the 21% ( 21 % ) decrease in net sales in the home business was primarily driven by a 24% ( 24 % ) decrease in net sales of digital entertainment devices , reflecting : ( i ) an 18% ( 18 % ) decrease in shipments of digital entertainment devices , primarily due to lower shipments to large cable and telecommunications operators in north america as a result of macroeconomic conditions , and ( ii ) a lower asp due to an unfavorable shift in product mix . the segment shipped 14.7 million digital entertainment devices in 2009 , compared to 18.0 million shipped in 2008 . on a geographic basis , the 21% ( 21 % ) decrease in net sales was driven by lower net sales in all regions . the decrease in net sales in north america was primarily due to : ( i ) lower net sales in the home business , and ( ii ) lower net sales of cdma and iden infrastructure equipment , partially offset by higher net sales of wimax products . the decrease in net sales in emea was primarily due to lower net sales of gsm infrastructure equipment , partially offset by higher net sales of wimax products and higher net sales in the home business . the decrease in net sales in asia was primarily driven by lower net sales of gsm , umts and cdma infrastructure equipment , partially offset by higher net sales in the home business . the decrease in net sales in latin america was primarily due to : ( i ) lower net sales in the home business , and ( ii ) lower net sales of iden infrastructure equipment , partially offset by higher net sales of wimax products . net sales in north america accounted for approximately 51% ( 51 % ) of the segment 2019s total net sales in 2009 , compared to approximately 50% ( 50 % ) of the segment 2019s total net sales in 2008. .
Question: did consolidated net sales grow from 2007 to 2009 , and what was the growth , in a percentage , from 2007 to 2009?
Answer: | 162.9 |
FINQA3264 | Please answer the given financial question based on the context.
Context: investment advisory revenues earned on the other investment portfolios that we manage decreased $ 3.6 million to $ 522.2 million . average assets in these portfolios were $ 142.1 billion during 2008 , up slightly from $ 141.4 billion in 2007 . these minor changes , each less than 1% ( 1 % ) , are attributable to the timing of declining equity market valuations and cash flows among our separate account and sub-advised portfolios . net inflows , primarily from institutional investors , were $ 13.2 billion during 2008 , including the $ 1.3 billion transferred from the retirement funds to target-date trusts . decreases in market valuations , net of income , lowered our assets under management in these portfolios by $ 55.3 billion during 2008 . administrative fees increased $ 5.8 million to $ 353.9 million , primarily from increased costs of servicing activities for the mutual funds and their investors . changes in administrative fees are generally offset by similar changes in related operating expenses that are incurred to provide services to the funds and their investors . our largest expense , compensation and related costs , increased $ 18.4 million or 2.3% ( 2.3 % ) from 2007 . this increase includes $ 37.2 million in salaries resulting from an 8.4% ( 8.4 % ) increase in our average staff count and an increase of our associates 2019 base salaries at the beginning of the year . at december 31 , 2008 , we employed 5385 associates , up 6.0% ( 6.0 % ) from the end of 2007 , primarily to add capabilities and support increased volume-related activities and other growth over the past few years . over the course of 2008 , we slowed the growth of our associate base from earlier plans and the prior year . we do not expect the number of our associates to increase in 2009 . we also reduced our annual bonuses $ 27.6 million versus the 2007 year in response to recent and ongoing unfavorable financial market conditions that negatively impacted our operating results . the balance of the increase is attributable to higher employee benefits and employment- related expenses , including an increase of $ 5.7 million in stock-based compensation . entering 2009 , we did not increase the salaries of our highest paid associates . after higher spending during the first quarter of 2008 versus 2007 , investor sentiment in the uncertain and volatile market environment caused us to reduce advertising and promotion spending , which for the year was down $ 3.8 million from 2007 . we expect to reduce these expenditures for 2009 versus 2008 , and estimate that spending in the first quarter of 2009 will be down about $ 5 million from the fourth quarter of 2008 . we vary our level of spending based on market conditions and investor demand as well as our efforts to expand our investor base in the united states and abroad . occupancy and facility costs together with depreciation expense increased $ 18 million , or 12% ( 12 % ) compared to 2007 . we have been expanding and renovating our facilities to accommodate the growth in our associates to meet business demands . other operating expenses were up $ 3.3 million from 2007 . we increased our spending $ 9.8 million , primarily for professional fees and information and other third-party services . reductions in travel and charitable contributions partially offset these increases . our non-operating investment activity resulted in a net loss of $ 52.3 million in 2008 as compared to a net gain of $ 80.4 million in 2007 . this change of $ 132.7 million is primarily attributable to losses recognized in 2008 on our investments in sponsored mutual funds , which resulted from declines in financial market values during the year. .
||2007|2008|change|
|capital gain distributions received|$ 22.1|$ 5.6|$ -16.5 ( 16.5 )|
|other than temporary impairments recognized|-.3 ( .3 )|-91.3 ( 91.3 )|-91.0 ( 91.0 )|
|net gains ( losses ) realized on funddispositions|5.5|-4.5 ( 4.5 )|-10.0 ( 10.0 )|
|net gain ( loss ) recognized on fund holdings|$ 27.3|$ -90.2 ( 90.2 )|$ -117.5 ( 117.5 )|
we recognized other than temporary impairments of our investments in sponsored mutual funds because of declines in fair value below cost for an extended period . the significant declines in fair value below cost that occurred in 2008 were generally attributable to the adverse and ongoing market conditions discussed in the background section on page 18 of this report . see also the discussion on page 24 of critical accounting policies for other than temporary impairments of available-for-sale securities . in addition , income from money market and bond fund holdings was $ 19.3 million lower than in 2007 due to the significantly lower interest rate environment of 2008 . lower interest rates also led to substantial capital appreciation on our $ 40 million holding of u.s . treasury notes that we sold in december 2008 at a $ 2.6 million gain . management 2019s discussion & analysis 21 .
Question: what was the percentage change in capital gain distributions received between 2007 and 2008?
Answer: | -0.74661 |
FINQA3265 | Please answer the given financial question based on the context.
Context: impairment of long-lived assets based on the projection of undiscounted cash flows whenever events or changes in circumstances indicate that the carrying amounts of such assets may not be recoverable . in the event such cash flows are not expected to be sufficient to recover the recorded value of the assets , the assets are written down to their estimated fair values ( see note 5 ) . asset retirement obligations 2014effective january 1 , 2003 , the company adopted statement of financial accounting standards ( 2018 2018sfas 2019 2019 ) no . 143 , 2018 2018accounting for asset retirement obligations . 2019 2019 sfas no . 143 requires the company to record the fair value of a legal liability for an asset retirement obligation in the period in which it is incurred . when a new liability is recorded the company will capitalize the costs of the liability by increasing the carrying amount of the related long-lived asset . the liability is accreted to its present value each period and the capitalized cost is depreciated over the useful life of the related asset . upon settlement of the liability , the company settles the obligation for its recorded amount or incurs a gain or loss upon settlement . the company 2019s retirement obligations covered by sfas no . 143 include primarily active ash landfills , water treatment basins and the removal or dismantlement of certain plant and equipment . as of december 31 , 2003 and 2002 , the company had recorded liabilities of approximately $ 29 million and $ 15 million , respectively , related to asset retirement obligations . there are no assets that are legally restricted for purposes of settling asset retirement obligations . upon adoption of sfas no . 143 , the company recorded an additional liability of approximately $ 13 million , a net asset of approximately $ 9 million , and a cumulative effect of a change in accounting principle of approximately $ 2 million , after income taxes . amounts recorded related to asset retirement obligations during the years ended december 31 , 2003 were as follows ( in millions ) : .
|balance at december 31 2002|$ 15|
|additional liability recorded from cumulative effect of accounting change|13|
|accretion expense|2|
|change in the timing of estimated cash flows|-1 ( 1 )|
|balance at december 31 2003|$ 29|
proforma net ( loss ) income and ( loss ) earnings per share have not been presented for the years ended december 31 , 2002 and 2001 because the proforma application of sfas no . 143 to prior periods would result in proforma net ( loss ) income and ( loss ) earnings per share not materially different from the actual amounts reported for those periods in the accompanying consolidated statements of operations . had sfas 143 been applied during all periods presented the asset retirement obligation at january 1 , 2001 , december 31 , 2001 and december 31 , 2002 would have been approximately $ 21 million , $ 23 million and $ 28 million , respectively . included in other long-term liabilities is the accrual for the non-legal obligations for removal of assets in service at ipalco amounting to $ 361 million and $ 339 million at december 31 , 2003 and 2002 , respectively . deferred financing costs 2014financing costs are deferred and amortized over the related financing period using the effective interest method or the straight-line method when it does not differ materially from the effective interest method . deferred financing costs are shown net of accumulated amortization of $ 202 million and $ 173 million as of december 31 , 2003 and 2002 , respectively . project development costs 2014the company capitalizes the costs of developing new construction projects after achieving certain project-related milestones that indicate the project 2019s completion is probable . these costs represent amounts incurred for professional services , permits , options , capitalized interest , and other costs directly related to construction . these costs are transferred to construction in progress when significant construction activity commences , or expensed at the time the company determines that development of a particular project is no longer probable ( see note 5 ) . .
Question: what was the difference in millions in liabilities related to asset retirement obligations between 2003 and 2003?
Answer: | 14.0 |
FINQA3266 | Please answer the given financial question based on the context.
Context: our refineries processed 944 mbpd of crude oil and 207 mbpd of other charge and blend stocks . the table below sets forth the location and daily crude oil refining capacity of each of our refineries as of december 31 , 2008 . crude oil refining capacity ( thousands of barrels per day ) 2008 .
|( thousands of barrels per day )|2008|
|garyville louisiana|256|
|catlettsburg kentucky|226|
|robinson illinois|204|
|detroit michigan|102|
|canton ohio|78|
|texas city texas|76|
|st . paul park minnesota|74|
|total|1016|
our refineries include crude oil atmospheric and vacuum distillation , fluid catalytic cracking , catalytic reforming , desulfurization and sulfur recovery units . the refineries process a wide variety of crude oils and produce numerous refined products , ranging from transportation fuels , such as reformulated gasolines , blend- grade gasolines intended for blending with fuel ethanol and ultra-low sulfur diesel fuel , to heavy fuel oil and asphalt . additionally , we manufacture aromatics , cumene , propane , propylene , sulfur and maleic anhydride . our refineries are integrated with each other via pipelines , terminals and barges to maximize operating efficiency . the transportation links that connect our refineries allow the movement of intermediate products between refineries to optimize operations , produce higher margin products and utilize our processing capacity efficiently . our garyville , louisiana , refinery is located along the mississippi river in southeastern louisiana . the garyville refinery processes heavy sour crude oil into products such as gasoline , distillates , sulfur , asphalt , propane , polymer grade propylene , isobutane and coke . in 2006 , we approved an expansion of our garyville refinery by 180 mbpd to 436 mbpd , with a currently projected cost of $ 3.35 billion ( excluding capitalized interest ) . construction commenced in early 2007 and is continuing on schedule . we estimate that , as of december 31 , 2008 , this project is approximately 75 percent complete . we expect to complete the expansion in late 2009 . our catlettsburg , kentucky , refinery is located in northeastern kentucky on the western bank of the big sandy river , near the confluence with the ohio river . the catlettsburg refinery processes sweet and sour crude oils into products such as gasoline , asphalt , diesel , jet fuel , petrochemicals , propane , propylene and sulfur . our robinson , illinois , refinery is located in the southeastern illinois town of robinson . the robinson refinery processes sweet and sour crude oils into products such as multiple grades of gasoline , jet fuel , kerosene , diesel fuel , propane , propylene , sulfur and anode-grade coke . our detroit , michigan , refinery is located near interstate 75 in southwest detroit . the detroit refinery processes light sweet and heavy sour crude oils , including canadian crude oils , into products such as gasoline , diesel , asphalt , slurry , propane , chemical grade propylene and sulfur . in 2007 , we approved a heavy oil upgrading and expansion project at our detroit , michigan , refinery , with a current projected cost of $ 2.2 billion ( excluding capitalized interest ) . this project will enable the refinery to process additional heavy sour crude oils , including canadian bitumen blends , and will increase its crude oil refining capacity by about 15 percent . construction began in the first half of 2008 and is presently expected to be complete in mid-2012 . our canton , ohio , refinery is located approximately 60 miles southeast of cleveland , ohio . the canton refinery processes sweet and sour crude oils into products such as gasoline , diesel fuels , kerosene , propane , sulfur , asphalt , roofing flux , home heating oil and no . 6 industrial fuel oil . our texas city , texas , refinery is located on the texas gulf coast approximately 30 miles south of houston , texas . the refinery processes sweet crude oil into products such as gasoline , propane , chemical grade propylene , slurry , sulfur and aromatics . our st . paul park , minnesota , refinery is located in st . paul park , a suburb of minneapolis-st . paul . the st . paul park refinery processes predominantly canadian crude oils into products such as gasoline , diesel , jet fuel , kerosene , asphalt , propane , propylene and sulfur. .
Question: did ohio have larger refining capacity than michigan?
Answer: | no |
FINQA3267 | Please answer the given financial question based on the context.
Context: issuer purchases of equity securities the following table provides information about our repurchases of common stock during the three-month period ended december 31 , 2012 . period total number of shares purchased average price paid per total number of shares purchased as part of publicly announced program ( a ) amount available for future share repurchases the program ( b ) ( in millions ) .
|period|total number of shares purchased|average price paid per share|total number of shares purchased as part of publicly announced program ( a )|amount available for future share repurchases under the program ( b ) ( in millions )|
|october 1 2012 2013 october 28 2012|842445|$ 93.38|842445|$ 2522|
|october 29 2012 2013 november 25 2012|872973|90.86|872973|2443|
|november 26 2012 2013 december 31 2012|1395288|92.02|1395288|2315|
|total|3110706|$ 92.07|3110706|$ 2315|
( a ) we repurchased a total of 3.1 million shares of our common stock for $ 286 million during the quarter ended december 31 , 2012 under a share repurchase program that we announced in october 2010 . ( b ) our board of directors has approved a share repurchase program for the repurchase of our common stock from time-to-time , authorizing an amount available for share repurchases of $ 6.5 billion . under the program , management has discretion to determine the dollar amount of shares to be repurchased and the timing of any repurchases in compliance with applicable law and regulation . the program does not have an expiration date . as of december 31 , 2012 , we had repurchased a total of 54.3 million shares under the program for $ 4.2 billion. .
Question: what is the total value of repurchased shares during october 2012 , in millions?
Answer: | 78.66751 |
FINQA3268 | Please answer the given financial question based on the context.
Context: 24 | 2018 emerson annual report 2017 vs . 2016 2013 commercial & residential solutions sales were $ 5.9 billion in 2017 , an increase of $ 302 million , or 5 percent , reflecting favorable conditions in hvac and refrigeration markets in the u.s. , asia and europe , as well as u.s . and asian construction markets . underlying sales increased 5 percent ( $ 297 million ) on 6 percent higher volume , partially offset by 1 percent lower price . foreign currency translation deducted $ 20 million and acquisitions added $ 25 million . climate technologies sales were $ 4.2 billion in 2017 , an increase of $ 268 million , or 7 percent . global air conditioning sales were solid , led by strength in the u.s . and asia and robust growth in china partially due to easier comparisons , while sales were up modestly in europe and declined moderately in middle east/africa . global refrigeration sales were strong , reflecting robust growth in china on increased adoption of energy- efficient solutions and slight growth in the u.s . sensors and solutions had strong growth , while temperature controls was up modestly . tools & home products sales were $ 1.6 billion in 2017 , up $ 34 million compared to the prior year . professional tools had strong growth on favorable demand from oil and gas customers and in other construction-related markets . wet/dry vacuums sales were up moderately as favorable conditions continued in u.s . construction markets . food waste disposers increased slightly , while the storage business declined moderately . overall , underlying sales increased 3 percent in the u.s. , 4 percent in europe and 17 percent in asia ( china up 27 percent ) . sales increased 3 percent in latin america and 4 percent in canada , while sales decreased 5 percent in middle east/africa . earnings were $ 1.4 billion , an increase of $ 72 million driven by climate technologies , while margin was flat . increased volume and resulting leverage , savings from cost reduction actions , and lower customer accommodation costs of $ 16 million were largely offset by higher materials costs , lower price and unfavorable product mix . financial position , capital resources and liquidity the company continues to generate substantial cash from operations and has the resources available to reinvest for growth in existing businesses , pursue strategic acquisitions and manage its capital structure on a short- and long-term basis . cash flow from continuing operations ( dollars in millions ) 2016 2017 2018 .
|( dollars in millions )|2016|2017|2018|
|operating cash flow|$ 2499|2690|2892|
|percent of sales|17.2% ( 17.2 % )|17.6% ( 17.6 % )|16.6% ( 16.6 % )|
|capital expenditures|$ 447|476|617|
|percent of sales|3.1% ( 3.1 % )|3.1% ( 3.1 % )|3.5% ( 3.5 % )|
|free cash flow ( operating cash flow less capital expenditures )|$ 2052|2214|2275|
|percent of sales|14.1% ( 14.1 % )|14.5% ( 14.5 % )|13.1% ( 13.1 % )|
|operating working capital|$ 755|1007|985|
|percent of sales|5.2% ( 5.2 % )|6.6% ( 6.6 % )|5.7% ( 5.7 % )|
operating cash flow from continuing operations for 2018 was $ 2.9 billion , a $ 202 million , or 8 percent increase compared with 2017 , primarily due to higher earnings , partially offset by an increase in working capital investment to support higher levels of sales activity and income taxes paid on the residential storage divestiture . operating cash flow from continuing operations of $ 2.7 billion in 2017 increased 8 percent compared to $ 2.5 billion in 2016 , reflecting higher earnings and favorable changes in working capital . at september 30 , 2018 , operating working capital as a percent of sales was 5.7 percent compared with 6.6 percent in 2017 and 5.2 percent in 2016 . the increase in 2017 was due to higher levels of working capital in the acquired valves & controls business . operating cash flow from continuing operations funded capital expenditures of $ 617 million , dividends of $ 1.2 billion , and common stock purchases of $ 1.0 billion . in 2018 , the company repatriated $ 1.4 billion of cash held by non-u.s . subsidiaries , which was part of the company 2019s previously announced plans . these funds along with increased short-term borrowings and divestiture proceeds supported acquisitions of $ 2.2 billion . contributions to pension plans were $ 61 million in 2018 , $ 45 million in 2017 and $ 66 million in 2016 . capital expenditures related to continuing operations were $ 617 million , $ 476 million and $ 447 million in 2018 , 2017 and 2016 , respectively . free cash flow from continuing operations ( operating cash flow less capital expenditures ) was $ 2.3 billion in 2018 , up 3 percent . free cash flow was $ 2.2 billion in 2017 , compared with $ 2.1 billion in 2016 . the company is targeting capital spending of approximately $ 650 million in 2019 . net cash paid in connection with acquisitions was $ 2.2 billion , $ 3.0 billion and $ 132 million in 2018 , 2017 and 2016 , respectively . proceeds from divestitures not classified as discontinued operations were $ 201 million and $ 39 million in 2018 and 2017 , respectively . dividends were $ 1.2 billion ( $ 1.94 per share ) in 2018 , compared with $ 1.2 billion ( $ 1.92 per share ) in 2017 and $ 1.2 billion ( $ 1.90 per share ) in 2016 . in november 2018 , the board of directors voted to increase the quarterly cash dividend 1 percent , to an annualized rate of $ 1.96 per share . purchases of emerson common stock totaled $ 1.0 billion , $ 400 million and $ 601 million in 2018 , 2017 and 2016 , respectively , at average per share prices of $ 66.25 , $ 60.51 and $ 48.11 . the board of directors authorized the purchase of up to 70 million common shares in november 2015 , and 41.8 million shares remain available for purchase under this authorization . the company purchased 15.1 million shares in 2018 , 6.6 million shares in 2017 , and 12.5 million shares in 2016 under this authorization and the remainder of the may 2013 authorization. .
Question: what was the change as a percent of sales in operating cash flow between 2016 and 2018?
Answer: | -0.006 |
FINQA3269 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis of financial condition and results of operations ( continued ) 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 . we invest these client deposits in a combination of investment securities and short- duration financial instruments whose mix is determined by the characteristics of the deposits . for the past several years , we have experienced higher client deposit inflows toward the end of the quarter or the end of the year . as a result , we believe average client deposit balances are more reflective of ongoing funding than period-end balances . table 33 : client deposits average balance december 31 , year ended december 31 .
|( in millions )|december 31 , 2014|december 31 , 2013|december 31 , 2014|2013|
|client deposits ( 1 )|$ 195276|$ 182268|$ 167470|$ 143043|
client deposits ( 1 ) $ 195276 $ 182268 $ 167470 $ 143043 ( 1 ) balance as of december 31 , 2014 excluded term wholesale certificates of deposit , or cds , of $ 13.76 billion ; average balances for the year ended december 31 , 2014 and 2013 excluded average cds of $ 6.87 billion and $ 2.50 billion , respectively . short-term funding : our corporate commercial paper program , under which we can issue up to $ 3.0 billion of commercial paper with original maturities of up to 270 days from the date of issuance , had $ 2.48 billion and $ 1.82 billion of commercial paper outstanding as of december 31 , 2014 and 2013 , respectively . our on-balance sheet liquid assets are also an integral component of our liquidity management strategy . these assets provide liquidity through maturities of the assets , but more importantly , they provide us with the ability to raise funds by pledging the securities as collateral for borrowings or through outright sales . in addition , our access to the global capital markets gives us the ability to source incremental funding at reasonable rates of interest from wholesale investors . as discussed earlier under 201casset liquidity , 201d state street bank's membership in the fhlb allows for advances of liquidity with varying terms against high-quality collateral . short-term secured funding also comes in the form of securities lent or sold under agreements to repurchase . these transactions are short-term in nature , generally overnight , and are collateralized by high-quality investment securities . these balances were $ 8.93 billion and $ 7.95 billion as of december 31 , 2014 and 2013 , respectively . state street bank currently maintains a line of credit with a financial institution of cad $ 800 million , or approximately $ 690 million as of december 31 , 2014 , to support its canadian securities processing operations . the line of credit has no stated termination date and is cancelable by either party with prior notice . as of december 31 , 2014 , there was no balance outstanding on this line of credit . long-term funding : as of december 31 , 2014 , state street bank had board authority to issue unsecured senior debt securities from time to time , provided that the aggregate principal amount of such unsecured senior debt outstanding at any one time does not exceed $ 5 billion . as of december 31 , 2014 , $ 4.1 billion was available for issuance pursuant to this authority . as of december 31 , 2014 , state street bank also had board authority to issue an additional $ 500 million of subordinated debt . we maintain an effective universal shelf registration that allows for the public offering and sale of debt securities , capital securities , common stock , depositary shares and preferred stock , and warrants to purchase such securities , including any shares into which the preferred stock and depositary shares may be convertible , or any combination thereof . we have issued in the past , and we may issue in the future , securities pursuant to our shelf registration . the issuance of debt or equity securities will depend on future market conditions , funding needs and other factors . agency credit ratings our ability to maintain consistent access to liquidity is fostered by the maintenance of high investment-grade ratings as measured by the major independent credit rating agencies . factors essential to maintaining high credit ratings include diverse and stable core earnings ; relative market position ; strong risk management ; strong capital ratios ; diverse liquidity sources , including the global capital markets and client deposits ; strong liquidity monitoring procedures ; and preparedness for current or future regulatory developments . high ratings limit borrowing costs and enhance our liquidity by providing assurance for unsecured funding and depositors , increasing the potential market for our debt and improving our ability to offer products , serve markets , and engage in transactions in which clients value high credit ratings . a downgrade or reduction of our credit ratings could have a material adverse effect on our liquidity by restricting our ability to access the capital .
Question: what is the growth rate in the deposits of clients from 2013 to 2014?
Answer: | 0.07137 |
FINQA3270 | Please answer the given financial question based on the context.
Context: issuer purchases of equity securities the following table provides information about our repurchases of common stock during the three-month period ended december 31 , 2012 . period total number of shares purchased average price paid per total number of shares purchased as part of publicly announced program ( a ) amount available for future share repurchases the program ( b ) ( in millions ) .
|period|total number of shares purchased|average price paid per share|total number of shares purchased as part of publicly announced program ( a )|amount available for future share repurchases under the program ( b ) ( in millions )|
|october 1 2012 2013 october 28 2012|842445|$ 93.38|842445|$ 2522|
|october 29 2012 2013 november 25 2012|872973|90.86|872973|2443|
|november 26 2012 2013 december 31 2012|1395288|92.02|1395288|2315|
|total|3110706|$ 92.07|3110706|$ 2315|
( a ) we repurchased a total of 3.1 million shares of our common stock for $ 286 million during the quarter ended december 31 , 2012 under a share repurchase program that we announced in october 2010 . ( b ) our board of directors has approved a share repurchase program for the repurchase of our common stock from time-to-time , authorizing an amount available for share repurchases of $ 6.5 billion . under the program , management has discretion to determine the dollar amount of shares to be repurchased and the timing of any repurchases in compliance with applicable law and regulation . the program does not have an expiration date . as of december 31 , 2012 , we had repurchased a total of 54.3 million shares under the program for $ 4.2 billion. .
Question: what was the percent of the repurchases of common stock during the three-month ended december 312012 that was bought in october
Answer: | 0.27082 |
FINQA3271 | Please answer the given financial question based on the context.
Context: incentive compensation expense ( $ 8.2 million ) and related fringe benefit costs ( $ 1.4 million ) , and higher warehousing costs due to customer requirements ( $ 2.0 million ) . corporate overhead for the year ended december 31 , 2006 , increased $ 3.1 million , or 6.5% ( 6.5 % ) , from the year ended december 31 , 2005 . the increase was primarily attributable to higher incentive compensation expense ( $ 2.6 million ) and other increased costs which were not individually significant . other expense , net , decreased $ 2.1 million , or 20.1% ( 20.1 % ) for the year ended december 31 , 2006 compared to the year ended december 31 , 2005 . the decrease was primarily due to a $ 3.1 million decrease in expenses related to the disposals of property , plant and equipment as part of planned disposals in connection with capital projects . partially offsetting the decrease in fixed asset disposal expense was higher legal expenses ( $ 0.5 million ) and increased losses on disposals of storeroom items ( $ 0.4 million ) . interest expense , net and income taxes interest expense , net of interest income , increased by $ 3.1 million , or 11.1% ( 11.1 % ) , for the year ended december 31 , 2006 compared to the full year 2005 , primarily as a result of higher interest expense on our variable rate debt due to higher interest rates . pca 2019s effective tax rate was 35.8% ( 35.8 % ) for the year ended december 31 , 2006 and 40.2% ( 40.2 % ) for the year ended december 31 , 2005 . the lower tax rate in 2006 is primarily due to a larger domestic manufacturer 2019s deduction and a reduction in the texas state tax rate . for both years 2006 and 2005 , tax rates were higher than the federal statutory rate of 35.0% ( 35.0 % ) due to state income taxes . year ended december 31 , 2005 compared to year ended december 31 , 2004 the historical results of operations of pca for the years ended december 31 , 2005 and 2004 are set forth below : for the year ended december 31 , ( in millions ) 2005 2004 change .
|( in millions )|for the year ended december 31 , 2005|for the year ended december 31 , 2004|change|
|net sales|$ 1993.7|$ 1890.1|$ 103.6|
|income from operations|$ 116.1|$ 140.5|$ -24.4 ( 24.4 )|
|interest expense net|-28.1 ( 28.1 )|-29.6 ( 29.6 )|1.5|
|income before taxes|88.0|110.9|-22.9 ( 22.9 )|
|provision for income taxes|-35.4 ( 35.4 )|-42.2 ( 42.2 )|6.8|
|net income|$ 52.6|$ 68.7|$ -16.1 ( 16.1 )|
net sales net sales increased by $ 103.6 million , or 5.5% ( 5.5 % ) , for the year ended december 31 , 2005 from the year ended december 31 , 2004 . net sales increased primarily due to increased sales prices and volumes of corrugated products compared to 2004 . total corrugated products volume sold increased 4.2% ( 4.2 % ) to 31.2 billion square feet in 2005 compared to 29.9 billion square feet in 2004 . on a comparable shipment-per-workday basis , corrugated products sales volume increased 4.6% ( 4.6 % ) in 2005 from 2004 . excluding pca 2019s acquisition of midland container in april 2005 , corrugated products volume was 3.0% ( 3.0 % ) higher in 2005 than 2004 and up 3.4% ( 3.4 % ) compared to 2004 on a shipment-per-workday basis . shipments-per-workday is calculated by dividing our total corrugated products volume during the year by the number of workdays within the year . the larger percentage increase was due to the fact that 2005 had one less workday ( 250 days ) , those days not falling on a weekend or holiday , than 2004 ( 251 days ) . containerboard sales volume to external domestic and export customers decreased 12.2% ( 12.2 % ) to 417000 tons for the year ended december 31 , 2005 from 475000 tons in 2004. .
Question: what was the operating margin for 2005?
Answer: | 0.05823 |
FINQA3272 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have guaranteed certain obligations of our subsidiaries relating principally to operating leases and credit facilities of certain subsidiaries . the amount of parent company guarantees on lease obligations was $ 410.3 and $ 385.1 as of december 31 , 2012 and 2011 , respectively , and the amount of parent company guarantees primarily relating to credit facilities was $ 283.4 and $ 327.5 as of december 31 , 2012 and 2011 , respectively . in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee . as of december 31 , 2012 , there were no material assets pledged as security for such parent company guarantees . contingent acquisition obligations the following table details the estimated future contingent acquisition obligations payable in cash as of december 31 .
||2013|2014|2015|2016|2017|thereafter|total|
|deferred acquisition payments|$ 26.0|$ 12.4|$ 9.7|$ 46.4|$ 18.9|$ 2.0|$ 115.4|
|redeemable noncontrolling interests and call options with affiliates1|20.5|43.8|32.9|5.7|2.2|10.6|115.7|
|total contingent acquisition payments|46.5|56.2|42.6|52.1|21.1|12.6|231.1|
|less : cash compensation expense included above|-0.7 ( 0.7 )|-0.6 ( 0.6 )|-0.8 ( 0.8 )|-0.2 ( 0.2 )|0.0|0.0|-2.3 ( 2.3 )|
|total|$ 45.8|$ 55.6|$ 41.8|$ 51.9|$ 21.1|$ 12.6|$ 228.8|
1 we have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions . we have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of december 31 , 2012 . these estimated payments of $ 16.4 are included within the total payments expected to be made in 2013 , and will continue to be carried forward into 2014 or beyond until exercised or expired . redeemable noncontrolling interests are included in the table at current exercise price payable in cash , not at applicable redemption value in accordance with the authoritative guidance for classification and measurement of redeemable securities . the estimated amounts listed would be paid in the event of exercise at the earliest exercise date . see note 6 for further information relating to the payment structure of our acquisitions . all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress . legal matters we are involved in various legal proceedings , and subject to investigations , inspections , audits , inquiries and similar actions by governmental authorities , arising in the normal course of business . we evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount , or potential range , of loss can be reasonably estimated . in certain cases , we cannot reasonably estimate the potential loss because , for example , the litigation is in its early stages . while any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty , management believes that the outcome of these matters , individually and in the aggregate , will not have a material adverse effect on our financial condition , results of operations or cash flows . note 15 : recent accounting standards impairment of indefinite-lived intangible assets in july 2012 , the financial accounting standards board ( 201cfasb 201d ) issued amended guidance to simplify impairment testing of indefinite-lived intangible assets other than goodwill . the amended guidance permits an entity to first assess qualitative factors to determine whether it is 201cmore likely than not 201d that the indefinite-lived intangible asset is impaired . if , after assessing qualitative factors , an entity concludes that it is not 201cmore likely than not 201d that the indefinite-lived intangible .
Question: in 2012 what was the ratio of the parent company guarantees on lease obligations to the credit facilities
Answer: | 1.44778 |
FINQA3273 | Please answer the given financial question based on the context.
Context: contractual obligations significant contractual obligations as of december 30 , 2017 were as follows: .
|( in millions )|payments due by period total|payments due by period less than1 year|payments due by period 1 20133 years|payments due by period 3 20135 years|payments due by period more than5 years|
|operating lease obligations|$ 1245|$ 215|$ 348|$ 241|$ 441|
|capital purchase obligations1|12068|9689|2266|113|2014|
|other purchase obligations and commitments2|2692|1577|1040|55|20|
|tax obligations3|6120|490|979|979|3672|
|long-term debt obligations4|42278|1495|5377|8489|26917|
|other long-term liabilities5|1544|799|422|190|133|
|total6|$ 65947|$ 14265|$ 10432|$ 10067|$ 31183|
capital purchase obligations1 12068 9689 2266 113 2014 other purchase obligations and commitments2 2692 1577 1040 55 20 tax obligations3 6120 490 979 979 3672 long-term debt obligations4 42278 1495 5377 8489 26917 other long-term liabilities5 1544 799 422 190 133 total6 $ 65947 $ 14265 $ 10432 $ 10067 $ 31183 1 capital purchase obligations represent commitments for the construction or purchase of property , plant and equipment . they were not recorded as liabilities on our consolidated balance sheets as of december 30 , 2017 , as we had not yet received the related goods nor taken title to the property . 2 other purchase obligations and commitments include payments due under various types of licenses and agreements to purchase goods or services , as well as payments due under non-contingent funding obligations . 3 tax obligations represent the future cash payments related to tax reform enacted in 2017 for the one-time provisional transition tax on our previously untaxed foreign earnings . for further information , see 201cnote 8 : income taxes 201d within the consolidated financial statements . 4 amounts represent principal and interest cash payments over the life of the debt obligations , including anticipated interest payments that are not recorded on our consolidated balance sheets . debt obligations are classified based on their stated maturity date , regardless of their classification on the consolidated balance sheets . any future settlement of convertible debt would impact our cash payments . 5 amounts represent future cash payments to satisfy other long-term liabilities recorded on our consolidated balance sheets , including the short-term portion of these long-term liabilities . derivative instruments are excluded from the preceding table , as they do not represent the amounts that may ultimately be paid . 6 total excludes contractual obligations already recorded on our consolidated balance sheets as current liabilities , except for the short-term portions of long-term debt obligations and other long-term liabilities . the expected timing of payments of the obligations in the preceding table is estimated based on current information . timing of payments and actual amounts paid may be different , depending on the time of receipt of goods or services , or changes to agreed- upon amounts for some obligations . contractual obligations for purchases of goods or services included in 201cother purchase obligations and commitments 201d in the preceding table include agreements that are enforceable and legally binding on intel and that specify all significant terms , including fixed or minimum quantities to be purchased ; fixed , minimum , or variable price provisions ; and the approximate timing of the transaction . for obligations with cancellation provisions , the amounts included in the preceding table were limited to the non-cancelable portion of the agreement terms or the minimum cancellation fee . for the purchase of raw materials , we have entered into certain agreements that specify minimum prices and quantities based on a percentage of the total available market or based on a percentage of our future purchasing requirements . due to the uncertainty of the future market and our future purchasing requirements , as well as the non-binding nature of these agreements , obligations under these agreements have been excluded from the preceding table . our purchase orders for other products are based on our current manufacturing needs and are fulfilled by our vendors within short time horizons . in addition , some of our purchase orders represent authorizations to purchase rather than binding agreements . contractual obligations that are contingent upon the achievement of certain milestones have been excluded from the preceding table . most of our milestone-based contracts are tooling related for the purchase of capital equipment . these arrangements are not considered contractual obligations until the milestone is met by the counterparty . as of december 30 , 2017 , assuming that all future milestones are met , the additional required payments would be approximately $ 2.0 billion . for the majority of restricted stock units ( rsus ) granted , the number of shares of common stock issued on the date the rsus vest is net of the minimum statutory withholding requirements that we pay in cash to the appropriate taxing authorities on behalf of our employees . the obligation to pay the relevant taxing authority is excluded from the preceding table , as the amount is contingent upon continued employment . in addition , the amount of the obligation is unknown , as it is based in part on the market price of our common stock when the awards vest . md&a - results of operations consolidated results and analysis 38 .
Question: as of december 30 , 2017 what was the percent of the capital purchase obligations to the total
Answer: | 0.183 |
FINQA3274 | Please answer the given financial question based on the context.
Context: devon energy corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) proved undeveloped reserves the following table presents the changes in our total proved undeveloped reserves during 2011 ( in mmboe ) . .
||u.s . onshore|canada|north america|
|proved undeveloped reserves as of december 31 2010|411|420|831|
|extensions and discoveries|118|30|148|
|revisions due to prices|-2 ( 2 )|-14 ( 14 )|-16 ( 16 )|
|revisions other than price|-56 ( 56 )|5|-51 ( 51 )|
|conversion to proved developed reserves|-68 ( 68 )|-62 ( 62 )|-130 ( 130 )|
|proved undeveloped reserves as of december 31 2011|403|379|782|
at december 31 , 2011 , devon had 782 mmboe of proved undeveloped reserves . this represents a 6% ( 6 % ) decrease as compared to 2010 and represents 26% ( 26 % ) of its total proved reserves . drilling activities increased devon 2019s proved undeveloped reserves 148 mmboe and resulted in the conversion of 130 mmboe , or 16% ( 16 % ) , of the 2010 proved undeveloped reserves to proved developed reserves . additionally , revisions other than price decreased devon 2019s proved undeveloped reserves 51 mmboe primarily due to its evaluation of certain u.s . onshore dry-gas areas , which it does not expect to develop in the next five years . the largest revisions relate to the dry-gas areas at carthage in east texas and the barnett shale in north texas . a significant amount of devon 2019s proved undeveloped reserves at the end of 2011 largely related to its jackfish operations . at december 31 , 2011 and 2010 , devon 2019s jackfish proved undeveloped reserves were 367 mmboe and 396 mmboe , respectively . development schedules for the jackfish reserves are primarily controlled by the need to keep the processing plants at their 35000 barrel daily facility capacity . processing plant capacity is controlled by factors such as total steam processing capacity , steam-oil ratios and air quality discharge permits . as a result , these reserves are classified as proved undeveloped for more than five years . currently , the development schedule for these reserves extends though the year 2025 . price revisions 2011 2014reserves decreased 21 mmboe due to lower gas prices and higher oil prices . the higher oil prices increased devon 2019s canadian royalty burden , which reduced devon 2019s oil reserves . 2010 2014reserves increased 72 mmboe due to higher gas prices , partially offset by the effect of higher oil prices . the higher oil prices increased devon 2019s canadian royalty burden , which reduced devon 2019s oil reserves . of the 72 mmboe price revisions , 43 mmboe related to the barnett shale and 22 mmboe related to the rocky mountain area . 2009 2014reserves increased 177 mmboe due to higher oil prices , partially offset by lower gas prices . the increase in oil reserves primarily related to devon 2019s jackfish thermal heavy oil reserves in canada . at the end of 2008 , 331 mmboe of reserves related to jackfish were not considered proved . however , due to higher prices , these reserves were considered proved as of december 31 , 2009 . significantly lower gas prices caused devon 2019s reserves to decrease 116 mmboe , which primarily related to its u.s . reserves . revisions other than price total revisions other than price for 2011 primarily related to devon 2019s evaluation of certain dry gas regions noted in the proved undeveloped reserves discussion above . total revisions other than price for 2010 and 2009 primarily related to devon 2019s drilling and development in the barnett shale. .
Question: what was the percentage change in total proved undeveloped reserves for u.s . onshore from 2010 to 2011?
Answer: | -0.01946 |
FINQA3275 | Please answer the given financial question based on the context.
Context: proceeds from the sale of equity securities . from time to time , we raise funds through public offerings of our equity securities . in addition , we receive proceeds from sales of our equity securities pursuant to our stock option and stock purchase plans . for the year ended december 31 , 2004 , we received approximately $ 40.6 million in proceeds from sales of shares of our class a common stock and the common stock of atc mexico pursuant to our stock option and stock purchase plans . financing activities during the year ended december 31 , 2004 , we took several actions to increase our financial flexibility and reduce our interest costs . new credit facility . in may 2004 , we refinanced our previous credit facility with a new $ 1.1 billion senior secured credit facility . at closing , we received $ 685.5 million of net proceeds from the borrowings under the new facility , after deducting related expenses and fees , approximately $ 670.0 million of which we used to repay principal and interest under the previous credit facility . we used the remaining net proceeds of $ 15.5 million for general corporate purposes , including the repurchase of other outstanding debt securities . the new credit facility consists of the following : 2022 $ 400.0 million in undrawn revolving loan commitments , against which approximately $ 19.3 million of undrawn letters of credit were outstanding at december 31 , 2004 , maturing on february 28 , 2011 ; 2022 a $ 300.0 million term loan a , which is fully drawn , maturing on february 28 , 2011 ; and 2022 a $ 398.0 million term loan b , which is fully drawn , maturing on august 31 , 2011 . the new credit facility extends the previous credit facility maturity dates from 2007 to 2011 for a majority of the borrowings outstanding , subject to earlier maturity upon the occurrence of certain events described below , and allows us to use credit facility borrowings and internally generated funds to repurchase other indebtedness without additional lender approval . the new credit facility is guaranteed by us and is secured by a pledge of substantially all of our assets . the maturity date for term loan a and any outstanding revolving loans will be accelerated to august 15 , 2008 , and the maturity date for term loan b will be accelerated to october 31 , 2008 , if ( 1 ) on or prior to august 1 , 2008 , our 93 20448% ( 20448 % ) senior notes have not been ( a ) refinanced with parent company indebtedness having a maturity date of february 28 , 2012 or later or with loans under the new credit facility , or ( b ) repaid , prepaid , redeemed , repurchased or otherwise retired , and ( 2 ) our consolidated leverage ratio ( total parent company debt to annualized operating cash flow ) at june 30 , 2008 is greater than 4.50 to 1.00 . if this were to occur , the payments due in 2008 for term loan a and term loan b would be $ 225.0 million and $ 386.0 million , respectively . note offerings . during 2004 , we raised approximately $ 1.1 billion in net proceeds from the sale of debt securities through institutional private placements as follows ( in millions ) : debt security date of offering principal amount approximate net proceeds .
|debt security|date of offering|principal amount|approximate net proceeds|
|7.50% ( 7.50 % ) senior notes due 2012|february 2004|$ 225.0|$ 221.7|
|3.00% ( 3.00 % ) convertible notes due august 15 2012|august 2004|345.0|335.9|
|7.125% ( 7.125 % ) senior notes due 2012|october 2004|300.0|292.8|
|7.125% ( 7.125 % ) senior notes due 2012|december 2004|200.0|199.8|
|total||$ 1070.0|$ 1050.2|
2022 7.50% ( 7.50 % ) senior notes offering . in february 2004 , we sold $ 225.0 million principal amount of our 7.50% ( 7.50 % ) senior notes due 2012 through an institutional private placement . the 7.50% ( 7.50 % ) senior notes mature on may 1 , 2012 , and interest is payable semiannually in arrears on may 1 and november 1 of each year. .
Question: what is the annual interest expense related to the 7.50% ( 7.50 % ) senior notes due 2012 , in millions?
Answer: | 16.875 |
FINQA3276 | Please answer the given financial question based on the context.
Context: interest expense , net was $ 26.4 million , $ 14.6 million , and $ 5.3 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively . interest expense includes the amortization of deferred financing costs , bank fees , capital and built-to-suit lease interest and interest expense under the credit and other long term debt facilities . amortization of deferred financing costs was $ 1.2 million , $ 0.8 million , and $ 0.6 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively . the company monitors the financial health and stability of its lenders under the credit and other long term debt facilities , however during any period of significant instability in the credit markets lenders could be negatively impacted in their ability to perform under these facilities . 6 . commitments and contingencies obligations under operating leases the company leases warehouse space , office facilities , space for its brand and factory house stores and certain equipment under non-cancelable operating leases . the leases expire at various dates through 2033 , excluding extensions at the company 2019s option , and include provisions for rental adjustments . the table below includes executed lease agreements for brand and factory house stores that the company did not yet occupy as of december 31 , 2016 and does not include contingent rent the company may incur at its stores based on future sales above a specified minimum or payments made for maintenance , insurance and real estate taxes . the following is a schedule of future minimum lease payments for non-cancelable real property operating leases as of december 31 , 2016 as well as significant operating lease agreements entered into during the period after december 31 , 2016 through the date of this report : ( in thousands ) .
|2017|$ 114857|
|2018|127504|
|2019|136040|
|2020|133092|
|2021|122753|
|2022 and thereafter|788180|
|total future minimum lease payments|$ 1422426|
included in selling , general and administrative expense was rent expense of $ 109.0 million , $ 83.0 million and $ 59.0 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , under non-cancelable operating lease agreements . included in these amounts was contingent rent expense of $ 13.0 million , $ 11.0 million and $ 11.0 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively . sports marketing and other commitments within the normal course of business , the company enters into contractual commitments in order to promote the company 2019s brand and products . these commitments include sponsorship agreements with teams and athletes on the collegiate and professional levels , official supplier agreements , athletic event sponsorships and other marketing commitments . the following is a schedule of the company 2019s future minimum payments under its sponsorship and other marketing agreements as of december 31 .
Question: what is the percentage change in interest expense from 2015 to 2016?
Answer: | 0.80822 |
FINQA3277 | Please answer the given financial question based on the context.
Context: table of contents interest expense , net of capitalized interest increased $ 64 million , or 9.8% ( 9.8 % ) , to $ 710 million in 2013 from $ 646 million in 2012 primarily due to special charges of $ 92 million to recognize post-petition interest expense on unsecured obligations pursuant to the plan and penalty interest related to 10.5% ( 10.5 % ) secured notes and 7.50% ( 7.50 % ) senior secured notes . other nonoperating expense , net of $ 84 million in 2013 consists principally of net foreign currency losses of $ 55 million and early debt extinguishment charges of $ 48 million . other nonoperating income in 2012 consisted principally of a $ 280 million special credit related to the settlement of a commercial dispute partially offset by net foreign currency losses . reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases . the following table summarizes the components included in reorganization items , net on american 2019s consolidated statements of operations for the years ended december 31 , 2013 and 2012 ( in millions ) : .
||2013|2012|
|pension and postretirement benefits|$ 2014|$ -66 ( 66 )|
|labor-related deemed claim ( 1 )|1733|2014|
|aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )|320|1951|
|fair value of conversion discount ( 4 )|218|2014|
|professional fees|199|227|
|other|170|67|
|total reorganization items net|$ 2640|$ 2179|
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees . each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes . the total value of this deemed claim was approximately $ 1.7 billion . ( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds . the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify such financing or facility agreement and the debtors believed that it was probable the motion would be approved , and there was sufficient information to estimate the claim . see note 2 to american 2019s consolidated financial statements in part ii , item 8b for further information . ( 3 ) pursuant to the plan , the debtors agreed to allow certain post-petition unsecured claims on obligations . as a result , during the year ended december 31 , 2013 , american recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $ 180 million , allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at jfk , and rejected bonds that financed certain improvements at ord , which are included in the table above . ( 4 ) the plan allowed unsecured creditors receiving aag series a preferred stock a conversion discount of 3.5% ( 3.5 % ) . accordingly , american recorded the fair value of such discount upon the confirmation of the plan by the bankruptcy court. .
Question: what was the percentage growth in the total re-organization costs from 2012 to 2013
Answer: | 0.21156 |
FINQA3278 | Please answer the given financial question based on the context.
Context: ilim holding s.a . shareholder 2019s agreement in october 2007 , in connection with the formation of the ilim holding s.a . joint venture , international paper entered into a shareholder 2019s agreement that includes provisions relating to the reconciliation of disputes among the partners . this agreement provides that at any time , either the company or its partners may commence procedures specified under the deadlock agreement . if these or any other deadlock procedures under the shareholder's agreement are commenced , although it is not obligated to do so , the company may in certain situations choose to purchase its partners' 50% ( 50 % ) interest in ilim . any such transaction would be subject to review and approval by russian and other relevant anti-trust authorities . based on the provisions of the agreement , the company estimates that the current purchase price for its partners' 50% ( 50 % ) interests would be approximately $ 1.5 billion , which could be satisfied by payment of cash or international paper common stock , or some combination of the two , at the company's option . the purchase by the company of its partners 2019 50% ( 50 % ) interest in ilim would result in the consolidation of ilim's financial position and results of operations in all subsequent periods . the parties have informed each other that they have no current intention to commence procedures specified under the deadlock provisions of the shareholder 2019s agreement . critical accounting policies and significant accounting estimates the preparation of financial statements in conformity with accounting principles generally accepted in the united states requires international paper to establish accounting policies and to make estimates that affect both the amounts and timing of the recording of assets , liabilities , revenues and expenses . some of these estimates require judgments about matters that are inherently uncertain . accounting policies whose application may have a significant effect on the reported results of operations and financial position of international paper , and that can require judgments by management that affect their application , include the accounting for contingencies , impairment or disposal of long-lived assets and goodwill , pensions and postretirement benefit obligations , stock options and income taxes . the company has discussed the selection of critical accounting policies and the effect of significant estimates with the audit and finance committee of the company 2019s board of directors . contingent liabilities accruals for contingent liabilities , including legal and environmental matters , are recorded when it is probable that a liability has been incurred or an asset impaired and the amount of the loss can be reasonably estimated . liabilities accrued for legal matters require judgments regarding projected outcomes and range of loss based on historical experience and recommendations of legal counsel . liabilities for environmental matters require evaluations of relevant environmental regulations and estimates of future remediation alternatives and costs . impairment of long-lived assets and goodwill an impairment of a long-lived asset exists when the asset 2019s carrying amount exceeds its fair value , and is recorded when the carrying amount is not recoverable through cash flows from future operations . a goodwill impairment exists when the carrying amount of goodwill exceeds its fair value . assessments of possible impairments of long-lived assets and goodwill are made when events or changes in circumstances indicate that the carrying value of the asset may not be recoverable through future operations . additionally , testing for possible impairment of goodwill and intangible asset balances is required annually . the amount and timing of any impairment charges based on these assessments require the estimation of future cash flows and the fair market value of the related assets based on management 2019s best estimates of certain key factors , including future selling prices and volumes , operating , raw material , energy and freight costs , and various other projected operating economic factors . as these key factors change in future periods , the company will update its impairment analyses to reflect its latest estimates and projections . under the provisions of accounting standards codification ( asc ) 350 , 201cintangibles 2013 goodwill and other , 201d the testing of goodwill for possible impairment is a two-step process . in the first step , the fair value of the company 2019s reporting units is compared with their carrying value , including goodwill . if fair value exceeds the carrying value , goodwill is not considered to be impaired . if the fair value of a reporting unit is below the carrying value , then step two is performed to measure the amount of the goodwill impairment loss for the reporting unit . this analysis requires the determination of the fair value of all of the individual assets and liabilities of the reporting unit , including any currently unrecognized intangible assets , as if the reporting unit had been purchased on the analysis date . once these fair values have been determined , the implied fair value of the unit 2019s goodwill is calculated as the excess , if any , of the fair value of the reporting unit determined in step one over the fair value of the net assets determined in step two . the carrying value of goodwill is then reduced to this implied value , or to zero if the fair value of the assets exceeds the fair value of the reporting unit , through a goodwill impairment charge . the impairment analysis requires a number of judgments by management . in calculating the estimated fair value of its reporting units in step one , a total debt-to-capital ratio of less than 60% ( 60 % ) . net worth is defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock plus any cumulative goodwill impairment charges . the calculation also excludes accumulated other comprehensive income/loss and nonrecourse financial liabilities of special purpose entities . the total debt-to-capital ratio is defined as total debt divided by the sum of total debt plus net worth . the company was in compliance with all its debt covenants at december 31 , 2016 and was well below the thresholds stipulated under the covenants as defined in the credit agreements . the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows . funding decisions will be guided by our capital structure planning objectives . the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense . the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors . maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy . at december 31 , 2016 , the company held long-term credit ratings of bbb ( stable outlook ) and baa2 ( stable outlook ) by s&p and moody 2019s , respectively . contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2016 , were as follows: .
|in millions|2017|2018|2019|2020|2021|thereafter|
|maturities of long-term debt ( a )|$ 239|$ 690|$ 433|$ 179|$ 612|$ 9161|
|lease obligations|119|91|69|51|38|125|
|purchase obligations ( b )|3165|635|525|495|460|2332|
|total ( c )|$ 3523|$ 1416|$ 1027|$ 725|$ 1110|$ 11618|
( a ) total debt includes scheduled principal payments only . ( b ) includes $ 2 billion relating to fiber supply agreements entered into at the time of the 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business . also includes $ 1.1 billion relating to fiber supply agreements assumed in conjunction with the 2016 acquisition of weyerhaeuser's pulp business . ( c ) not included in the above table due to the uncertainty as to the amount and timing of the payment are unrecognized tax benefits of approximately $ 77 million . we consider the undistributed earnings of our foreign subsidiaries as of december 31 , 2016 , to be indefinitely reinvested and , accordingly , no u.s . income taxes have been provided thereon . as of december 31 , 2016 , the amount of cash associated with indefinitely reinvested foreign earnings was approximately $ 620 million . we do not anticipate the need to repatriate funds to the united states to satisfy domestic liquidity needs arising in the ordinary course of business , including liquidity needs associated with our domestic debt service requirements . pension obligations and funding at december 31 , 2016 , the projected benefit obligation for the company 2019s u.s . defined benefit plans determined under u.s . gaap was approximately $ 3.4 billion higher than the fair value of plan assets . approximately $ 3.0 billion of this amount relates to plans that are subject to minimum funding requirements . under current irs funding rules , the calculation of minimum funding requirements differs from the calculation of the present value of plan benefits ( the projected benefit obligation ) for accounting purposes . in december 2008 , the worker , retiree and employer recovery act of 2008 ( wera ) was passed by the u.s . congress which provided for pension funding relief and technical corrections . funding contributions depend on the funding method selected by the company , and the timing of its implementation , as well as on actual demographic data and the targeted funding level . the company continually reassesses the amount and timing of any discretionary contributions and elected to make contributions totaling $ 750 million for both years ended december 31 , 2016 and 2015 . at this time , we do not expect to have any required contributions to our plans in 2017 , although the company may elect to make future voluntary contributions . the timing and amount of future contributions , which could be material , will depend on a number of factors , including the actual earnings and changes in values of plan assets and changes in interest rates . international paper announced a voluntary , limited-time opportunity for former employees who are participants in the retirement plan of international paper company ( the pension plan ) to request early payment of their entire pension plan benefit in the form of a single lump sum payment . the amount of total payments under this program was approximately $ 1.2 billion , and were made from plan trust assets on june 30 , 2016 . based on the level of payments made , settlement accounting rules applied and resulted in a plan remeasurement as of the june 30 , 2016 payment date . as a result of settlement accounting , the company recognized a pro-rata portion of the unamortized net actuarial loss , after remeasurement , resulting in a $ 439 million non-cash charge to the company's earnings in the second quarter of 2016 . additional payments of $ 8 million and $ 9 million were made during the third and fourth quarters , respectively , due to mandatory cash payouts and a small lump sum payout , and the pension plan was subsequently remeasured at september 30 , 2016 and december 31 , 2016 . as a result of settlement accounting , the company recognized non-cash settlement charges of $ 3 million in both the third and fourth quarters of 2016. .
Question: in 2018 what percentage of contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2016 is due to maturities of long-term debt?
Answer: | 0.48729 |
FINQA3279 | Please answer the given financial question based on the context.
Context: notes to the consolidated financial statements on march 18 , 2008 , ppg completed a public offering of $ 600 million in aggregate principal amount of its 5.75% ( 5.75 % ) notes due 2013 ( the 201c2013 notes 201d ) , $ 700 million in aggregate principal amount of its 6.65% ( 6.65 % ) notes due 2018 ( the 201c2018 notes 201d ) and $ 250 million in aggregate principal amount of its 7.70% ( 7.70 % ) notes due 2038 ( the 201c2038 notes 201d and , together with the 2013 notes and the 2018 notes , the 201cnotes 201d ) . the notes were offered by the company pursuant to its existing shelf registration . the proceeds of this offering of $ 1538 million ( net of discount and issuance costs ) and additional borrowings of $ 195 million under the 20ac650 million revolving credit facility were used to repay existing debt , including certain short-term debt and the amounts outstanding under the 20ac1 billion bridge loan . no further amounts can be borrowed under the 20ac1 billion bridge loan . the discount and issuance costs related to the notes , which totaled $ 12 million , will be amortized to interest expense over the respective lives of the notes . short-term debt outstanding as of december 31 , 2008 and 2007 , was as follows : ( millions ) 2008 2007 .
|( millions )|2008|2007|
|20ac1 billion bridge loan agreement 5.2% ( 5.2 % )|$ 2014|$ 1047|
|u.s . commercial paper 5.3% ( 5.3 % ) as of dec . 31 2008|222|617|
|20ac650 million revolving credit facility weighted average 2.9% ( 2.9 % ) as of dec . 31 2008 ( 1 )|200|2014|
|other weighted average 4.0% ( 4.0 % ) as of dec . 31 2008|362|154|
|total|$ 784|$ 1818|
total $ 784 $ 1818 ( 1 ) borrowings under this facility have a term of 30 days and can be rolled over monthly until the facility expires in 2010 . ppg is in compliance with the restrictive covenants under its various credit agreements , loan agreements and indentures . the company 2019s revolving credit agreements include a financial ratio covenant . the covenant requires that the amount of total indebtedness not exceed 60% ( 60 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments . as of december 31 , 2008 , total indebtedness was 45% ( 45 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments . additionally , substantially all of the company 2019s debt agreements contain customary cross- default provisions . those provisions generally provide that a default on a debt service payment of $ 10 million or more for longer than the grace period provided ( usually 10 days ) under one agreement may result in an event of default under other agreements . none of the company 2019s primary debt obligations are secured or guaranteed by the company 2019s affiliates . interest payments in 2008 , 2007 and 2006 totaled $ 228 million , $ 102 million and $ 90 million , respectively . rental expense for operating leases was $ 267 million , $ 188 million and $ 161 million in 2008 , 2007 and 2006 , respectively . the primary leased assets include paint stores , transportation equipment , warehouses and other distribution facilities , and office space , including the company 2019s corporate headquarters located in pittsburgh , pa . minimum lease commitments for operating leases that have initial or remaining lease terms in excess of one year as of december 31 , 2008 , are ( in millions ) $ 126 in 2009 , $ 107 in 2010 , $ 82 in 2011 , $ 65 in 2012 , $ 51 in 2013 and $ 202 thereafter . the company had outstanding letters of credit of $ 82 million as of december 31 , 2008 . the letters of credit secure the company 2019s performance to third parties under certain self-insurance programs and other commitments made in the ordinary course of business . as of december 31 , 2008 and 2007 guarantees outstanding were $ 70 million . the guarantees relate primarily to debt of certain entities in which ppg has an ownership interest and selected customers of certain of the company 2019s businesses . a portion of such debt is secured by the assets of the related entities . the carrying values of these guarantees were $ 9 million and $ 3 million as of december 31 , 2008 and 2007 , respectively , and the fair values were $ 40 million and $ 17 million , as of december 31 , 2008 and 2007 , respectively . the company does not believe any loss related to these letters of credit or guarantees is likely . 10 . financial instruments , excluding derivative financial instruments included in ppg 2019s financial instrument portfolio are cash and cash equivalents , cash held in escrow , marketable equity securities , company-owned life insurance and short- and long-term debt instruments . the fair values of the financial instruments approximated their carrying values , in the aggregate , except for long-term long-term debt ( excluding capital lease obligations ) , had carrying and fair values totaling $ 3122 million and $ 3035 million , respectively , as of december 31 , 2008 . the corresponding amounts as of december 31 , 2007 , were $ 1201 million and $ 1226 million , respectively . the fair values of the debt instruments were based on discounted cash flows and interest rates currently available to the company for instruments of the same remaining maturities . 2008 ppg annual report and form 10-k 45 .
Question: what would rental expense for operating leases be in millions in 2009 with the same percentage increase in leases as in 2008?
Answer: | 379.19681 |
FINQA3280 | Please answer the given financial question based on the context.
Context: table of contents the following discussion of nonoperating income and expense excludes the results of us airways in order to provide a more meaningful year-over-year comparison . interest expense , net of capitalized interest decreased $ 129 million in 2014 from 2013 primarily due to a $ 63 million decrease in special charges recognized year-over-year as further described below , as well as refinancing activities that resulted in $ 65 million less interest expense recognized in 2014 . ( 1 ) in 2014 , american recognized $ 29 million of special charges relating to non-cash interest accretion on bankruptcy settlement obligations . in 2013 , american recognized $ 48 million of special charges relating to post-petition interest expense on unsecured obligations pursuant to the plan and penalty interest related to american 2019s 10.5% ( 10.5 % ) secured notes and 7.50% ( 7.50 % ) senior secured notes . in addition , in 2013 american recorded special charges of $ 44 million for debt extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness , including cash interest charges and non-cash write offs of unamortized debt issuance costs . ( 2 ) as a result of the 2013 refinancing activities and the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes in 2014 , american incurred $ 65 million less interest expense in 2014 as compared to 2013 . other nonoperating expense , net in 2014 consisted of $ 92 million of net foreign currency losses , including a $ 43 million special charge for venezuelan foreign currency losses , and $ 48 million of early debt extinguishment costs related to the prepayment of american 2019s 7.50% ( 7.50 % ) senior secured notes and other indebtedness . the foreign currency losses were driven primarily by the strengthening of the u.s . dollar relative to other currencies during 2014 , principally in the latin american market , including a 48% ( 48 % ) decrease in the value of the venezuelan bolivar and a 14% ( 14 % ) decrease in the value of the brazilian real . other nonoperating expense , net in 2013 consisted principally of net foreign currency losses of $ 55 million and early debt extinguishment charges of $ 29 million . reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases . the following table summarizes the components included in reorganization items , net on american 2019s consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : .
||2013|
|labor-related deemed claim ( 1 )|$ 1733|
|aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )|320|
|fair value of conversion discount ( 4 )|218|
|professional fees|199|
|other|170|
|total reorganization items net|$ 2640|
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees . each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes . the total value of this deemed claim was approximately $ 1.7 billion . ( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue .
Question: what percentage of total 2013 reorganization items consisted of fair value of conversion discount?
Answer: | 0.08258 |
FINQA3281 | Please answer the given financial question based on the context.
Context: other expense , net : the company's other expense consists of the following: .
|( in thousands )|year ended december 31 , 2013|year ended december 31 , 2012|
|foreign currency losses net|$ -1115 ( 1115 )|$ -1401 ( 1401 )|
|other income ( expense ) net|69|-4 ( 4 )|
|total other expense net|$ -1046 ( 1046 )|$ -1405 ( 1405 )|
income tax provision : the company recorded income tax expense of $ 77.2 million and had income before income taxes of $ 322.5 million for the year ended december 31 , 2013 , representing an effective tax rate of 23.9% ( 23.9 % ) . during the year ended december 31 , 2012 , the company recorded income tax expense of $ 90.1 million and had income before income taxes of $ 293.5 million , representing an effective tax rate of 30.7% ( 30.7 % ) . in december 2013 , the company received notice from the irs that the joint committee on taxation took no exception to the company's tax returns that were filed for 2009 and 2010 . an $ 11.0 million tax benefit was recognized in the company's 2013 financial results as the company had effectively settled uncertainty regarding the realization of refund claims filed in connection with the 2009 and 2010 returns . in the u.s. , which is the largest jurisdiction where the company receives such a tax credit , the availability of the research and development credit expired at the end of the 2011 tax year . in january 2013 , the u.s . congress passed legislation that reinstated the research and development credit retroactive to 2012 . the income tax provision for the year ended december 31 , 2013 includes approximately $ 2.3 million related to the reinstated research and development credit for 2012 activity . the decrease in the effective tax rate from the prior year is primarily due to the release of an uncertain tax position mentioned above , the reinstatement of the u.s . research and development credit mentioned above , and cash repatriation activities . when compared to the federal and state combined statutory rate , the effective tax rates for the years ended december 31 , 2013 and 2012 were favorably impacted by lower statutory tax rates in many of the company 2019s foreign jurisdictions , the domestic manufacturing deduction and tax benefits associated with the merger of the company 2019s japan subsidiaries in 2010 . net income : the company 2019s net income for the year ended december 31 , 2013 was $ 245.3 million as compared to net income of $ 203.5 million for the year ended december 31 , 2012 . diluted earnings per share was $ 2.58 for the year ended december 31 , 2013 and $ 2.14 for the year ended december 31 , 2012 . the weighted average shares used in computing diluted earnings per share were 95.1 million and 95.0 million for the years ended december 31 , 2013 and 2012 , respectively . table of contents .
Question: what was the percentage change in the company 2019s net income from 2012 to 2013 .
Answer: | 0.20541 |
FINQA3282 | Please answer the given financial question based on the context.
Context: table 32 : change in nonperforming assets .
|in millions|2014|2013|
|january 1|$ 3457|$ 3794|
|new nonperforming assets ( a )|2127|3343|
|charge-offs and valuation adjustments ( b )|-585 ( 585 )|-1002 ( 1002 )|
|principal activity including paydowns and payoffs|-1001 ( 1001 )|-1016 ( 1016 )|
|asset sales and transfers to loans held for sale|-570 ( 570 )|-492 ( 492 )|
|returned to performing status|-548 ( 548 )|-1170 ( 1170 )|
|december 31|$ 2880|$ 3457|
( a ) new nonperforming assets in the 2013 period include $ 560 million of loans added in the first quarter of 2013 due to the alignment with interagency supervisory guidance on practices for loans and lines of credit related to consumer lending . ( b ) charge-offs and valuation adjustments in the 2013 period include $ 134 million of charge-offs due to the alignment with interagency supervisory guidance discussed in footnote ( a ) above . the table above presents nonperforming asset activity during 2014 and 2013 , respectively . nonperforming assets decreased $ 577 million from $ 3.5 billion at december 31 , 2013 to $ 2.9 billion at december 31 , 2014 , as a result of improvements in both consumer and commercial lending . consumer lending nonperforming loans decreased $ 224 million , commercial real estate nonperforming loans declined $ 184 million and commercial nonperforming loans decreased $ 167 million . as of december 31 , 2014 , approximately 90% ( 90 % ) of total nonperforming loans were secured by collateral which lessens reserve requirements and is expected to reduce credit losses in the event of default . as of december 31 , 2014 , commercial lending nonperforming loans were carried at approximately 65% ( 65 % ) of their unpaid principal balance , due to charge-offs recorded to date , before consideration of the alll . see note 3 asset quality in the notes to consolidated financial statements in item 8 of this report for additional information on these loans . purchased impaired loans are considered performing , even if contractually past due ( or if we do not expect to receive payment in full based on the original contractual terms ) , as we accrete interest income over the expected life of the loans . the accretable yield represents the excess of the expected cash flows on the loans at the measurement date over the carrying value . generally decreases , other than interest rate decreases for variable rate notes , in the net present value of expected cash flows of individual commercial or pooled purchased impaired loans would result in an impairment charge to the provision for credit losses in the period in which the change is deemed probable . generally increases in the net present value of expected cash flows of purchased impaired loans would first result in a recovery of previously recorded allowance for loan losses , to the extent applicable , and then an increase to accretable yield for the remaining life of the purchased impaired loans . total nonperforming loans and assets in the tables above are significantly lower than they would have been due to this accounting treatment for purchased impaired loans . this treatment also results in a lower ratio of nonperforming loans to total loans and a higher ratio of alll to nonperforming loans . see note 4 purchased loans in the notes to consolidated financial statements in item 8 of this report for additional information on these loans . loan delinquencies we regularly monitor the level of loan delinquencies and believe these levels may be a key indicator of loan portfolio asset quality . measurement of delinquency status is based on the contractual terms of each loan . loans that are 30 days or more past due in terms of payment are considered delinquent . loan delinquencies exclude loans held for sale and purchased impaired loans , but include government insured or guaranteed loans and loans accounted for under the fair value option . total early stage loan delinquencies ( accruing loans past due 30 to 89 days ) decreased from $ 1.0 billion at december 31 , 2013 to $ 0.8 billion at december 31 , 2014 . the reduction in both consumer and commercial lending early stage delinquencies resulted from improved credit quality . see note 1 accounting policies in the notes to consolidated financial statements of this report for additional information regarding our nonperforming loan and nonaccrual policies . accruing loans past due 90 days or more are referred to as late stage delinquencies . these loans are not included in nonperforming loans and continue to accrue interest because they are well secured by collateral , and/or are in the process of collection , are managed in homogenous portfolios with specified charge-off timeframes adhering to regulatory guidelines , or are certain government insured or guaranteed loans . these loans decreased $ .4 billion , or 26% ( 26 % ) , from $ 1.5 billion at december 31 , 2013 to $ 1.1 billion at december 31 , 2014 , mainly due to a decline in government insured residential real estate loans of $ .3 billion , the majority of which we took possession of and conveyed the real estate , or are in the process of conveyance and claim resolution . the following tables display the delinquency status of our loans at december 31 , 2014 and december 31 , 2013 . additional information regarding accruing loans past due is included in note 3 asset quality in the notes to consolidated financial statements of this report . 74 the pnc financial services group , inc . 2013 form 10-k .
Question: what is the percentage decrease of nonperforming assets from dec 31 2013 to dec 31 2014?
Answer: | 16.69077 |
FINQA3283 | Please answer the given financial question based on the context.
Context: measurement point december 31 booking holdings nasdaq composite index s&p 500 rdg internet composite .
|measurement pointdecember 31|booking holdings inc .|nasdaqcomposite index|s&p 500index|rdg internetcomposite|
|2013|100.00|100.00|100.00|100.00|
|2014|98.09|114.62|113.69|96.39|
|2015|109.68|122.81|115.26|133.20|
|2016|126.12|133.19|129.05|140.23|
|2017|149.50|172.11|157.22|202.15|
|2018|148.18|165.84|150.33|201.16|
.
Question: what was the difference in percentage change in booking holding inc . and nasdaq composite index for the five years ended 2018?
Answer: | -0.1766 |
FINQA3284 | Please answer the given financial question based on the context.
Context: 48 2022 2010 annual report as part of the acquisition of gfsi , we acquired gross net operating loss ( 201cnol 201d ) carry forwards of $ 64431 ; of which , only $ 34592 are expected to be utilized due to the application of irc section 382 . separately , as of june 30 , 2010 , we had state nol carry forwards of $ 838 . these losses have varying expiration dates , ranging from 2012 to 2029 . based on state tax rules which restrict our usage of these losses , we believe it is more likely than not that $ 306 of these losses will expire unutilized . accordingly , a valuation allowance of $ 306 has been recorded against these assets as of june 30 , 2010 . the company paid income taxes of $ 42116 , $ 62965 , and $ 51709 in 2010 , 2009 , and 2008 , respectively . at june 30 , 2009 , the company had $ 5518 of unrecognized tax benefits . at june 30 , 2010 , the company had $ 7187 of unrecognized tax benefits , of which , $ 4989 , if recognized , would affect our effective tax rate . we had accrued interest and penalties of $ 890 and $ 732 related to uncertain tax positions at june 30 , 2010 and 2009 , respectively . a reconciliation of the unrecognized tax benefits for the years ended june 30 , 2010 and 2009 follows : unrecognized tax benefits .
||unrecognized tax benefits|
|balance at july 1 2008|$ 4055|
|additions for current year tax positions|1044|
|additions for prior year tax positions|2052|
|reductions for prior year tax positions|-110 ( 110 )|
|settlements|-936 ( 936 )|
|reductions related to expirations of statute of limitations|-587 ( 587 )|
|balance at june 30 2009|5518|
|additions for current year tax positions|691|
|reductions for current year tax positions|-39 ( 39 )|
|additions for prior year tax positions|2049|
|reductions for prior year tax positions|-298 ( 298 )|
|settlements|-|
|reductions related to expirations of statute of limitations|-734 ( 734 )|
|balance at june 30 2010|$ 7187|
during the fiscal year ended june 30 , 2010 , the internal revenue service commenced an examination of the company 2019s u.s . federal income tax returns for fiscal years ended june 2008 through 2009 . the u.s . federal and state income tax returns for june 30 , 2007 and all subsequent years still remain subject to examination as of june 30 , 2010 under statute of limitations rules . we anticipate potential changes resulting from the expiration of statutes of limitations of up to $ 965 could reduce the unrecognized tax benefits balance within twelve months of june 30 , note 8 : industry and supplier concentrations the company sells its products to banks , credit unions , and financial institutions throughout the united states and generally does not require collateral . all billings to customers are due 30 days from date of billing . reserves ( which are insignificant at june 30 , 2010 , 2009 and 2008 ) are maintained for potential credit losses . in addition , the company purchases most of its computer hardware and related maintenance for resale in relation to installation of jha software systems from two suppliers . there are a limited number of hardware suppliers for these required items . if these relationships were terminated , it could have a significant negative impact on the future operations of the company . note 9 : stock based compensation plans the company previously issued options to employees under the 1996 stock option plan ( 201c1996 sop 201d ) and currently issues options to outside directors under the 2005 non-qualified stock option plan ( 201c2005 nsop 201d ) . 1996 sop the 1996 sop was adopted by the company on october 29 , 1996 , for its employees . terms and vesting periods .
Question: if the companies accounting policy were to include accrued interest and penalties in utp , what would the balance be as of at june 30 2010?
Answer: | 8077.0 |
FINQA3285 | Please answer the given financial question based on the context.
Context: projected payments relating to these liabilities for the next five years ending december 31 , 2012 and the period from 2013 to 2017 are as follows ( in thousands ) : .
|2008|$ 980|
|2009|1185|
|2010|978|
|2011|1022|
|2012|1425|
|2013 - 2017|$ 8147|
( 18 ) concentration of risk the company generates a significant amount of revenue from large customers , however , no customers accounted for more than 10% ( 10 % ) of total revenue or total segment revenue in the years ended december 31 , 2007 , 2006 and 2005 . financial instruments that potentially subject the company to concentrations of credit risk consist primarily of cash equivalents and trade receivables . the company places its cash equivalents with high credit quality financial institutions and , by policy , limits the amount of credit exposure with any one financial institution . concentrations of credit risk with respect to trade receivables are limited because a large number of geographically diverse customers make up the company 2019s customer base , thus spreading the trade receivables credit risk . the company controls credit risk through monitoring procedures . ( 19 ) segment information upon completion of the certegy merger , the company implemented a new organizational structure , which resulted in a new operating segment structure beginning with the reporting of first quarter 2006 results . effective as of february 1 , 2006 , the company 2019s operating segments are tps and lps . this structure reflects how the businesses are operated and managed . the primary components of the tps segment , which includes certegy 2019s card and check services , the financial institution processing component of the former financial institution software and services segment of fis and the operations acquired from efunds , are enterprise solutions , integrated financial solutions and international businesses . the primary components of the lps segment are mortgage information services businesses , which includes the mortgage lender processing component of the former financial institution software and services segment of fis , and the former lender services , default management , and information services segments of fis . fidelity national information services , inc . and subsidiaries and affiliates notes to consolidated and combined financial statements 2014 ( continued ) .
Question: what is the growth rate in projected payments from 2008 to 2009?
Answer: | 0.20918 |
FINQA3286 | Please answer the given financial question based on the context.
Context: our refining and wholesale marketing gross margin is the difference between the prices of refined products sold and the costs of crude oil and other charge and blendstocks refined , including the costs to transport these inputs to our refineries , the costs of purchased products and manufacturing expenses , including depreciation . the crack spread is a measure of the difference between market prices for refined products and crude oil , commonly used by the industry as an indicator of the impact of price on the refining margin . crack spreads can fluctuate significantly , particularly when prices of refined products do not move in the same relationship as the cost of crude oil . as a performance benchmark and a comparison with other industry participants , we calculate midwest ( chicago ) and u.s . gulf coast crack spreads that we feel most closely track our operations and slate of products . posted light louisiana sweet ( 201clls 201d ) prices and a 6-3-2-1 ratio of products ( 6 barrels of crude oil producing 3 barrels of gasoline , 2 barrels of distillate and 1 barrel of residual fuel ) are used for the crack spread calculation . the following table lists calculated average crack spreads by quarter for the midwest ( chicago ) and gulf coast markets in 2008 . crack spreads ( dollars per barrel ) 1st qtr 2nd qtr 3rd qtr 4th qtr 2008 .
|crack spreads ( dollars per barrel )|1st qtr|2nd qtr|3rd qtr|4th qtr|2008|
|chicago lls 6-3-2-1|$ 0.07|$ 2.71|$ 7.81|$ 2.31|$ 3.27|
|us gulf coast lls 6-3-2-1|$ 1.39|$ 1.99|$ 6.32|( $ 0.01 )|$ 2.45|
in addition to the market changes indicated by the crack spreads , our refining and wholesale marketing gross margin is impacted by factors such as the types of crude oil and other charge and blendstocks processed , the selling prices realized for refined products , the impact of commodity derivative instruments used to mitigate price risk and the cost of purchased products for resale . we process significant amounts of sour crude oil which can enhance our profitability compared to certain of our competitors , as sour crude oil typically can be purchased at a discount to sweet crude oil . finally , our refining and wholesale marketing gross margin is impacted by changes in manufacturing costs , which are primarily driven by the level of maintenance activities at the refineries and the price of purchased natural gas used for plant fuel . our 2008 refining and wholesale marketing gross margin was the key driver of the 43 percent decrease in rm&t segment income when compared to 2007 . our average refining and wholesale marketing gross margin per gallon decreased 37 percent , to 11.66 cents in 2008 from 18.48 cents in 2007 , primarily due to the significant and rapid increases in crude oil prices early in 2008 and lagging wholesale price realizations . our retail marketing gross margin for gasoline and distillates , which is the difference between the ultimate price paid by consumers and the cost of refined products , including secondary transportation and consumer excise taxes , also impacts rm&t segment profitability . while on average demand has been increasing for several years , there are numerous factors including local competition , seasonal demand fluctuations , the available wholesale supply , the level of economic activity in our marketing areas and weather conditions that impact gasoline and distillate demand throughout the year . in 2008 , demand began to drop due to the combination of significant increases in retail petroleum prices and a broad slowdown in general activity . the gross margin on merchandise sold at retail outlets has historically been more constant . the profitability of our pipeline transportation operations is primarily dependent on the volumes shipped through our crude oil and refined products pipelines . the volume of crude oil that we transport is directly affected by the supply of , and refiner demand for , crude oil in the markets served directly by our crude oil pipelines . key factors in this supply and demand balance are the production levels of crude oil by producers , the availability and cost of alternative modes of transportation , and refinery and transportation system maintenance levels . the volume of refined products that we transport is directly affected by the production levels of , and user demand for , refined products in the markets served by our refined product pipelines . in most of our markets , demand for gasoline peaks during the summer and declines during the fall and winter months , whereas distillate demand is more ratable throughout the year . as with crude oil , other transportation alternatives and system maintenance levels influence refined product movements . integrated gas our integrated gas strategy is to link stranded natural gas resources with areas where a supply gap is emerging due to declining production and growing demand . our integrated gas operations include marketing and transportation of products manufactured from natural gas , such as lng and methanol , primarily in the u.s. , europe and west africa . our most significant lng investment is our 60 percent ownership in a production facility in equatorial guinea , which sells lng under a long-term contract at prices tied to henry hub natural gas prices . in 2008 , its .
Question: was the average yearly crack spread for chicago lls 6-3-2-1 greater than the spread for us gulf coast lls 6-3-2-1 for 2008?
Answer: | yes |
FINQA3287 | Please answer the given financial question based on the context.
Context: bhge 2018 form 10-k | 31 business environment the following discussion and analysis summarizes the significant factors affecting our results of operations , financial condition and liquidity position as of and for the year ended december 31 , 2018 , 2017 and 2016 , and should be read in conjunction with the consolidated and combined financial statements and related notes of the company . we operate in more than 120 countries helping customers find , evaluate , drill , produce , transport and process hydrocarbon resources . our revenue is predominately generated from the sale of products and services to major , national , and independent oil and natural gas companies worldwide , and is dependent on spending by our customers for oil and natural gas exploration , field development and production . this spending is driven by a number of factors , including our customers' forecasts of future energy demand and supply , their access to resources to develop and produce oil and natural gas , their ability to fund their capital programs , the impact of new government regulations and most importantly , their expectations for oil and natural gas prices as a key driver of their cash flows . oil and natural gas prices oil and natural gas prices are summarized in the table below as averages of the daily closing prices during each of the periods indicated. .
||2018|2017|2016|
|brent oil prices ( $ /bbl ) ( 1 )|$ 71.34|$ 54.12|$ 43.64|
|wti oil prices ( $ /bbl ) ( 2 )|65.23|50.80|43.29|
|natural gas prices ( $ /mmbtu ) ( 3 )|3.15|2.99|2.52|
brent oil prices ( $ /bbl ) ( 1 ) $ 71.34 $ 54.12 $ 43.64 wti oil prices ( $ /bbl ) ( 2 ) 65.23 50.80 43.29 natural gas prices ( $ /mmbtu ) ( 3 ) 3.15 2.99 2.52 ( 1 ) energy information administration ( eia ) europe brent spot price per barrel ( 2 ) eia cushing , ok wti ( west texas intermediate ) spot price ( 3 ) eia henry hub natural gas spot price per million british thermal unit 2018 demonstrated the volatility of the oil and gas market . through the first three quarters of 2018 , we experienced stability in the north american and international markets . however , in the fourth quarter of 2018 commodity prices dropped nearly 40% ( 40 % ) resulting in increased customer uncertainty . from an offshore standpoint , through most of 2018 , we saw multiple large offshore projects reach positive final investment decisions , and the lng market and outlook improved throughout 2018 , driven by increased demand globally . in 2018 , the first large north american lng positive final investment decision was reached . outside of north america , customer spending is highly driven by brent oil prices , which increased on average throughout the year . average brent oil prices increased to $ 71.34/bbl in 2018 from $ 54.12/bbl in 2017 , and ranged from a low of $ 50.57/bbl in december 2018 , to a high of $ 86.07/bbl in october 2018 . for the first three quarters of 2018 , brent oil prices increased sequentially . however , in the fourth quarter , brent oil prices declined 39% ( 39 % ) versus the end of the third quarter , as a result of increased supply from the u.s. , worries of a global economic slowdown , and lower than expected production cuts . in north america , customer spending is highly driven by wti oil prices , which similar to brent oil prices , on average increased throughout the year . average wti oil prices increased to $ 65.23/bbl in 2018 from $ 50.80/bbl in 2017 , and ranged from a low of $ 44.48/bbl in december 2018 , to a high of $ 77.41/bbl in june 2018 . in north america , natural gas prices , as measured by the henry hub natural gas spot price , averaged $ 3.15/ mmbtu in 2018 , representing a 6% ( 6 % ) increase over the prior year . throughout the year , henry hub natural gas spot prices ranged from a high of $ 6.24/mmbtu in january 2018 to a low of $ 2.49/mmbtu in february 2018 . according to the u.s . department of energy ( doe ) , working natural gas in storage at the end of 2018 was 2705 billion cubic feet ( bcf ) , which was 15.6% ( 15.6 % ) , or 421 bcf , below the corresponding week in 2017. .
Question: what is the average percent change in natural gas prices?
Answer: | 0.12001 |
FINQA3288 | Please answer the given financial question based on the context.
Context: net cash used by investing activities in 2013 also included $ 38.2 million for the may 13 , 2013 acquisition of challenger . see note 2 to the consolidated financial statements for information on the challenger acquisition . capital expenditures in 2013 , 2012 and 2011 totaled $ 70.6 million , $ 79.4 million and $ 61.2 million , respectively . capital expenditures in 2013 included continued investments related to the company 2019s execution of its strategic value creation processes around safety , quality , customer connection , innovation and rci initiatives . capital expenditures in all three years included spending to support the company 2019s strategic growth initiatives . in 2013 , the company continued to invest in new product , efficiency , safety and cost reduction initiatives to expand and improve its manufacturing capabilities worldwide . in 2012 , the company completed the construction of a fourth factory in kunshan , china , following the 2011 construction of a new engineering and research and development facility in kunshan . capital expenditures in all three years also included investments , particularly in the united states , in new product , efficiency , safety and cost reduction initiatives , as well as investments in new production 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 2014 . financing activities net cash used by financing activities was $ 137.8 million in 2013 , $ 127.0 million in 2012 and $ 293.7 million in 2011 . net cash used by financing activities in 2011 reflects the august 2011 repayment of $ 200 million of unsecured 6.25% ( 6.25 % ) notes upon maturity with available cash . proceeds from stock purchase and option plan exercises totaled $ 29.2 million in 2013 , $ 46.8 million in 2012 and $ 25.7 million in 2011 . 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 2013 , snap-on repurchased 926000 shares of its common stock for $ 82.6 million under its previously announced share repurchase programs . as of 2013 year end , snap-on had remaining availability to repurchase up to an additional $ 191.7 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 1180000 shares of its common stock for $ 78.1 million in 2012 ; snap-on repurchased 628000 shares of its common stock for $ 37.4 million in 2011 . 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 2014 . snap-on has paid consecutive quarterly cash dividends , without interruption or reduction , since 1939 . cash dividends paid in 2013 , 2012 and 2011 totaled $ 92.0 million , $ 81.5 million and $ 76.7 million , respectively . on november 8 , 2013 , the company announced that its board increased the quarterly cash dividend by 15.8% ( 15.8 % ) to $ 0.44 per share ( $ 1.76 per share per year ) . quarterly dividends declared in 2013 were $ 0.44 per share in the fourth quarter and $ 0.38 per share in the first three quarters ( $ 1.58 per share for the 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 ) . .
||2013|2012|2011|
|cash dividends paid per common share|$ 1.58|$ 1.40|$ 1.30|
|cash dividends paid as a percent of prior-year retained earnings|4.5% ( 4.5 % )|4.4% ( 4.4 % )|4.7% ( 4.7 % )|
cash dividends paid as a percent of prior-year retained earnings 4.5% ( 4.5 % ) 4.4% ( 4.4 % ) 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 2014 . 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 2013 year end . 2013 annual report 49 .
Question: how many share were outstanding in 2013 based on the amount paid for dividends?
Answer: | 58227848.10127 |
FINQA3289 | Please answer the given financial question based on the context.
Context: natural gas prices on average were lower in 2009 than in 2008 and in 2007 , with prices in 2008 hitting uniquely high levels . a significant portion of our natural gas production in the lower 48 states of the u.s . is sold at bid-week prices or first-of-month indices relative to our specific producing areas . a large portion of natural gas sales in alaska are subject to term contracts . our other major natural gas-producing regions are europe and equatorial guinea , where large portions of our natural gas sales are also subject to term contracts , making realized prices in these areas less volatile . as we sell larger quantities of natural gas from these regions , to the extent that these fixed prices are lower than prevailing prices , our reported average natural gas prices realizations may be less than benchmark natural gas prices . oil sands mining oil sands mining segment revenues correlate with prevailing market prices for the various qualities of synthetic crude oil and vacuum gas oil we produce . roughly two-thirds of the normal output mix will track movements in wti and one-third will track movements in the canadian heavy sour crude oil marker , primarily western canadian select . output mix can be impacted by operational problems or planned unit outages at the mine or the upgrader . the operating cost structure of the oil sands mining operations is predominantly fixed and therefore many of the costs incurred in times of full operation continue during production downtime . per-unit costs are sensitive to production rates . key variable costs are natural gas and diesel fuel , which track commodity markets such as the canadian aeco natural gas sales index and crude prices respectively . the table below shows average benchmark prices that impact both our revenues and variable costs. .
|benchmark|2009|2008|2007|
|wti crude oil ( dollars per barrel )|$ 62.09|$ 99.75|$ 72.41|
|western canadian select ( dollars per barrel ) ( a )|$ 52.13|$ 79.59|$ 49.60|
|aeco natural gas sales index ( dollars per mmbtu ) ( b )|$ 3.49|$ 7.74|$ 6.06|
western canadian select ( dollars per barrel ) ( a ) $ 52.13 $ 79.59 $ 49.60 aeco natural gas sales index ( dollars per mmbtu ) ( b ) $ 3.49 $ 7.74 $ 6.06 ( a ) monthly pricing based upon average wti adjusted for differentials unique to western canada . ( b ) alberta energy company day ahead index . integrated gas our integrated gas strategy is to link stranded natural gas resources with areas where a supply gap is emerging due to declining production and growing demand . our integrated gas operations include marketing and transportation of products manufactured from natural gas , such as lng and methanol , primarily in west africa , the u.s . and europe . our most significant lng investment is our 60 percent ownership in a production facility in equatorial guinea , which sells lng under a long-term contract at prices tied to henry hub natural gas prices . in 2009 , the gross sales from the plant were 3.9 million metric tonnes , while in 2008 , its first full year of operations , the plant sold 3.4 million metric tonnes . industry estimates of 2009 lng trade are approximately 185 million metric tonnes . more lng production facilities and tankers were under construction in 2009 . as a result of the sharp worldwide economic downturn in 2008 , continued weak economies are expected to lower natural gas consumption in various countries ; therefore , affecting near-term demand for lng . long-term lng supply continues to be in demand as markets seek the benefits of clean burning natural gas . market prices for lng are not reported or posted . in general , lng delivered to the u.s . is tied to henry hub prices and will track with changes in u.s . natural gas prices , while lng sold in europe and asia is indexed to crude oil prices and will track the movement of those prices . we own a 45 percent interest in a methanol plant located in equatorial guinea through our investment in ampco . gross sales of methanol from the plant totaled 960374 metric tonnes in 2009 and 792794 metric tonnes in 2008 . methanol demand has a direct impact on ampco 2019s earnings . because global demand for methanol is rather limited , changes in the supply-demand balance can have a significant impact on sales prices . the 2010 chemical markets associates , inc . estimates world demand for methanol in 2009 was 41 million metric tonnes . our plant capacity is 1.1 million , or about 3 percent of total demand . refining , marketing and transportation rm&t segment income depends largely on our refining and wholesale marketing gross margin , refinery throughputs and retail marketing gross margins for gasoline , distillates and merchandise. .
Question: by what percentage did the average price of the wti crude oil benchmark decrease from 2008 to 2009?
Answer: | -0.37754 |
FINQA3290 | Please answer the given financial question based on the context.
Context: the facility is considered 201cdebt 201d for purposes of a support agreement between american water and awcc , which serves as a functional equivalent of a guarantee by american water of awcc 2019s payment obligations under the credit facility . also , the company acquired an additional revolving line of credit as part of its keystone acquisition . the total commitment under this credit facility was $ 16 million of which $ 2 million was outstanding as of december 31 , 2015 . the following table summarizes information regarding the company 2019s aggregate credit facility commitments , letter of credit sub-limits and available funds under those revolving credit facilities , as well as outstanding amounts of commercial paper and outstanding borrowings under the respective facilities as of december 31 , 2015 and 2014 : credit facility commitment available credit facility capacity letter of credit sublimit available letter of credit capacity outstanding commercial ( net of discount ) credit line borrowing ( in millions ) december 31 , 2015 . . . . . $ 1266 $ 1182 $ 150 $ 68 $ 626 $ 2 december 31 , 2014 . . . . . $ 1250 $ 1212 $ 150 $ 112 $ 450 $ 2014 the weighted-average interest rate on awcc short-term borrowings for the years ended december 31 , 2015 and 2014 was approximately 0.49% ( 0.49 % ) and 0.31% ( 0.31 % ) , respectively . interest accrues on the keystone revolving line of credit daily at a rate per annum equal to 2.75% ( 2.75 % ) above the greater of the one month or one day libor . capital structure the following table indicates the percentage of our capitalization represented by the components of our capital structure as of december 31: .
||2015|2014|2013|
|total common stockholders' equity|43.5% ( 43.5 % )|45.2% ( 45.2 % )|44.6% ( 44.6 % )|
|long-term debt and redeemable preferred stock at redemption value|50.6% ( 50.6 % )|50.1% ( 50.1 % )|49.3% ( 49.3 % )|
|short-term debt and current portion of long-term debt|5.9% ( 5.9 % )|4.7% ( 4.7 % )|6.1% ( 6.1 % )|
|total|100% ( 100 % )|100% ( 100 % )|100% ( 100 % )|
the changes in the capital structure between periods were mainly attributable to changes in outstanding commercial paper balances . debt covenants our debt agreements contain financial and non-financial covenants . to the extent that we are not in compliance with these covenants such an event may create an event of default under the debt agreement and we or our subsidiaries may be restricted in our ability to pay dividends , issue new debt or access our revolving credit facility . for two of our smaller operating companies , we have informed our counterparties that we will provide only unaudited financial information at the subsidiary level , which resulted in technical non-compliance with certain of their reporting requirements under debt agreements with respect to $ 8 million of outstanding debt . we do not believe this event will materially impact us . our long-term debt indentures contain a number of covenants that , among other things , limit the company from issuing debt secured by the company 2019s assets , subject to certain exceptions . our failure to comply with any of these covenants could accelerate repayment obligations . certain long-term notes and the revolving credit facility require us to maintain a ratio of consolidated debt to consolidated capitalization ( as defined in the relevant documents ) of not more than 0.70 to 1.00 . on december 31 , 2015 , our ratio was 0.56 to 1.00 and therefore we were in compliance with the covenant. .
Question: by how much did the long-term debt and redeemable preferred stock at redemption value portion of the company's capital structure increase from 2013 to 2015?
Answer: | 0.013 |
FINQA3291 | Please answer the given financial question based on the context.
Context: interest rate derivatives . in connection with the issuance of floating rate debt in august and october 2008 , the company entered into three interest rate swap contracts , designated as cash flow hedges , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate . in december 2010 , the company approved a plan to refinance the term loan in january 2011 resulting in an $ 8.6 million loss on derivative instruments as a result of ineffectiveness on the associated interest rate swap contract . to mitigate counterparty credit risk , the interest rate swap contracts required collateralization by both counterparties for the swaps 2019 aggregate net fair value during their respective terms . collateral was maintained in the form of cash and adjusted on a daily basis . in february 2010 , the company entered into a forward starting interest rate swap contract , designated as a cash flow hedge , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate between the date of the swap and the forecasted issuance of fixed rate debt in march 2010 . the swap was highly effective . foreign currency derivatives . in connection with its purchase of bm&fbovespa stock in february 2008 , cme group purchased a put option to hedge against changes in the fair value of bm&fbovespa stock resulting from foreign currency rate fluctuations between the u.s . dollar and the brazilian real ( brl ) beyond the option 2019s exercise price . lehman brothers special financing inc . ( lbsf ) was the sole counterparty to this option contract . on september 15 , 2008 , lehman brothers holdings inc . ( lehman ) filed for protection under chapter 11 of the united states bankruptcy code . the bankruptcy filing of lehman was an event of default that gave the company the right to immediately terminate the put option agreement with lbsf . in march 2010 , the company recognized a $ 6.0 million gain on derivative instruments as a result of a settlement from the lehman bankruptcy proceedings . 21 . capital stock shares outstanding . the following table presents information regarding capital stock: .
|( in thousands )|december 31 , 2010|december 31 , 2009|
|shares authorized|1000000|1000000|
|class a common stock|66847|66511|
|class b-1 common stock|0.6|0.6|
|class b-2 common stock|0.8|0.8|
|class b-3 common stock|1.3|1.3|
|class b-4 common stock|0.4|0.4|
cme group has no shares of preferred stock issued and outstanding . associated trading rights . members of cme , cbot , nymex and comex own or lease trading rights which entitle them to access the trading floors , discounts on trading fees and the right to vote on certain exchange matters as provided for by the rules of the particular exchange and cme group 2019s or the subsidiaries 2019 organizational documents . each class of cme group class b common stock is associated with a membership in a specific division for trading at cme . a cme trading right is a separate asset that is not part of or evidenced by the associated share of class b common stock of cme group . the class b common stock of cme group is intended only to ensure that the class b shareholders of cme group retain rights with respect to representation on the board of directors and approval rights with respect to the core rights described below . trading rights at cbot are evidenced by class b memberships in cbot , at nymex by class a memberships in nymex and at comex by comex division memberships in comex . members of the cbot , nymex and comex exchanges do not have any rights to elect members of the board of directors and are not entitled to receive dividends or other distributions on their memberships . the company is , however , required to have at least 10 cbot directors ( as defined by its bylaws ) until its 2012 annual meeting. .
Question: in thousands , what was the average number of shares of class a common stock outstanding?
Answer: | 66679.0 |
FINQA3292 | Please answer the given financial question based on the context.
Context: stock-based compensation we did not recognize stock-based employee compensation expense related to stock options granted before 2003 as permitted under accounting principles board opinion no . 25 , 201caccounting for stock issued to employees , 201d ( 201capb 25 201d ) . effective january 1 , 2003 , we adopted the fair value recognition provisions of sfas 123 , 201caccounting for stock- based compensation , 201d as amended by sfas 148 , 201caccounting for stock-based compensation-transition and disclosure , 201d prospectively to all employee awards granted , modified or settled after january 1 , 2003 . we did not restate results for prior years upon our adoption of sfas 123 . since we adopted sfas 123 prospectively , the cost related to stock- based employee compensation included in net income for 2005 was less than what we would have recognized if we had applied the fair value based method to all awards since the original effective date of the standard . in december 2004 , the fasb issued sfas 123r 201cshare- based payment , 201d which replaced sfas 123 and superseded apb 25 . sfas 123r requires compensation cost related to share-based payments to employees to be recognized in the financial statements based on their fair value . we adopted sfas 123r effective january 1 , 2006 , using the modified prospective method of transition , which required the provisions of sfas 123r be applied to new awards and awards modified , repurchased or cancelled after the effective date . it also required changes in the timing of expense recognition for awards granted to retirement-eligible employees and clarified the accounting for the tax effects of stock awards . the adoption of sfas 123r did not have a significant impact on our consolidated financial statements . the following table shows the effect on 2005 net income and earnings per share if we had applied the fair value recognition provisions of sfas 123 , as amended , to all outstanding and unvested awards . pro forma net income and earnings per share ( a ) .
|in millions except for per share data|2005|
|net income|$ 1325|
|add : stock-based employee compensation expense included in reported net income net of related tax effects|54|
|deduct : total stock-based employee compensation expense determined under the fair value method for all awards net of related taxeffects|-60 ( 60 )|
|pro forma net income|$ 1319|
|earnings per share||
|basic-as reported|$ 4.63|
|basic-pro forma|4.60|
|diluted-as reported|$ 4.55|
|diluted-pro forma|4.52|
( a ) there were no differences between the gaap basis and pro forma basis of reporting 2006 net income and related per share amounts . see note 18 stock-based compensation plans for additional information . recent accounting pronouncements in december 2007 , the fasb issued sfas 141 ( r ) , 201cbusiness combinations . 201d this statement will require all businesses acquired to be measured at the fair value of the consideration paid as opposed to the cost-based provisions of sfas 141 . it will require an entity to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at the acquisition date , measured at their fair values as of that date . sfas 141 ( r ) requires the value of consideration paid including any future contingent consideration to be measured at fair value at the closing date of the transaction . also , restructuring costs and acquisition costs are to be expensed rather than included in the cost of the acquisition . this guidance is effective for all acquisitions with closing dates after january 1 , 2009 . in december 2007 , the fasb issued sfas 160 , 201caccounting and reporting of noncontrolling interests in consolidated financial statements , an amendment of arb no . 51 . 201d this statement amends arb no . 51 to establish accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary . it clarifies that a noncontrolling interest should be reported as equity in the consolidated financial statements . this statement requires expanded disclosures that identify and distinguish between the interests of the parent 2019s owners and the interests of the noncontrolling owners of an entity . this guidance is effective january 1 , 2009 . we are currently analyzing the standard but do not expect the adoption to have a material impact on our consolidated financial statements . in november 2007 , the sec issued staff accounting bulletin ( 201csab 201d ) no . 109 , that provides guidance regarding measuring the fair value of recorded written loan commitments . the guidance indicates that the expected future cash flows related to servicing should be included in the fair value measurement of all written loan commitments that are accounted for at fair value through earnings . sab 109 is effective january 1 , 2008 , prospectively to loan commitments issued or modified after that date . the adoption of this guidance is not expected to have a material effect on our results of operations or financial position . in june 2007 , the aicpa issued statement of position 07-1 , 201cclarification of the scope of the audit and accounting guide 201cinvestment companies 201d and accounting by parent companies and equity method investors for investments in investment companies 201d ( 201csop 07-1 201d ) . this statement provides guidance for determining whether an entity is within the scope of the aicpa audit and accounting guide investment companies ( 201cguide 201d ) and whether the specialized industry accounting principles of the guide should be retained in the financial statements of a parent company of an investment company or an equity method investor in an .
Question: in millions , what were total adjustment to arrive at pro forma net income?
Answer: | -6.0 |
FINQA3293 | Please answer the given financial question based on the context.
Context: 2009 vs . 2008 revenues , net of interest expense increased 11% ( 11 % ) or $ 2.7 billion , as markets began to recover in the early part of 2009 , bringing back higher levels of volume activity and higher levels of liquidity , which began to decline again in the third quarter of 2009 . the growth in revenue in the early part of the year was mainly due to a $ 7.1 billion increase in fixed income markets , reflecting strong trading opportunities across all asset classes in the first half of 2009 , and a $ 1.5 billion increase in investment banking revenue primarily from increases in debt and equity underwriting activities reflecting higher transaction volumes from depressed 2008 levels . these increases were offset by a $ 6.4 billion decrease in lending revenue primarily from losses on credit default swap hedges . excluding the 2009 and 2008 cva impact , as indicated in the table below , revenues increased 23% ( 23 % ) or $ 5.5 billion . operating expenses decreased 17% ( 17 % ) , or $ 2.7 billion . excluding the 2008 repositioning and restructuring charges and the 2009 litigation reserve release , operating expenses declined 11% ( 11 % ) or $ 1.6 billion , mainly as a result of headcount reductions and benefits from expense management . provisions for loan losses and for benefits and claims decreased 7% ( 7 % ) or $ 129 million , to $ 1.7 billion , mainly due to lower credit reserve builds and net credit losses , due to an improved credit environment , particularly in the latter part of the year . 2008 vs . 2007 revenues , net of interest expense decreased 2% ( 2 % ) or $ 0.4 billion reflecting the overall difficult market conditions . excluding the 2008 and 2007 cva impact , revenues decreased 3% ( 3 % ) or $ 0.6 billion . the reduction in revenue was primarily due to a decrease in investment banking revenue of $ 2.3 billion to $ 3.2 billion , mainly in debt and equity underwriting , reflecting lower volumes , and a decrease in equity markets revenue of $ 2.3 billion to $ 2.9 billion due to extremely high volatility and reduced levels of activity . these reductions were offset by an increase in fixed income markets of $ 2.9 billion to $ 14.4 billion due to strong performance in interest rates and currencies , and an increase in lending revenue of $ 2.4 billion to $ 4.2 billion mainly from gains on credit default swap hedges . operating expenses decreased by 2% ( 2 % ) or $ 0.4 billion . excluding the 2008 and 2007 repositioning and restructuring charges and the 2007 litigation reserve reversal , operating expenses decreased by 7% ( 7 % ) or $ 1.1 billion driven by headcount reduction and lower performance-based incentives . provisions for credit losses and for benefits and claims increased $ 1.3 billion to $ 1.8 billion mainly from higher credit reserve builds and net credit losses offset by a lower provision for unfunded lending commitments due to deterioration in the credit environment . certain revenues impacting securities and banking items that impacted s&b revenues during 2009 and 2008 are set forth in the table below. .
|in millions of dollars|pretax revenue 2009|pretax revenue 2008|
|private equity and equity investments|$ 201|$ -377 ( 377 )|
|alt-a mortgages ( 1 ) ( 2 )|321|-737 ( 737 )|
|commercial real estate ( cre ) positions ( 1 ) ( 3 )|68|270|
|cva on citi debt liabilities under fair value option|-3974 ( 3974 )|4325|
|cva on derivatives positions excluding monoline insurers|2204|-3292 ( 3292 )|
|total significant revenue items|$ -1180 ( 1180 )|$ 189|
( 1 ) net of hedges . ( 2 ) for these purposes , alt-a mortgage securities are non-agency residential mortgage-backed securities ( rmbs ) where ( i ) the underlying collateral has weighted average fico scores between 680 and 720 or ( ii ) for instances where fico scores are greater than 720 , rmbs have 30% ( 30 % ) or less of the underlying collateral composed of full documentation loans . see 201cmanaging global risk 2014credit risk 2014u.s . consumer mortgage lending . 201d ( 3 ) s&b 2019s commercial real estate exposure is split into three categories of assets : held at fair value ; held- to-maturity/held-for-investment ; and equity . see 201cmanaging global risk 2014credit risk 2014exposure to commercial real estate 201d section for a further discussion . in the table above , 2009 includes a $ 330 million pretax adjustment to the cva balance , which reduced pretax revenues for the year , reflecting a correction of an error related to prior periods . see 201csignificant accounting policies and significant estimates 201d below and notes 1 and 34 to the consolidated financial statements for a further discussion of this adjustment . 2010 outlook the 2010 outlook for s&b will depend on the level of client activity and on macroeconomic conditions , market valuations and volatility , interest rates and other market factors . management of s&b currently expects to maintain client activity throughout 2010 and to operate in market conditions that offer moderate volatility and increased liquidity . operating expenses will benefit from continued re-engineering and expense management initiatives , but will be offset by investments in talent and infrastructure to support growth. .
Question: what was the revenues , net of interest expense in billions in 2008 reflecting the overall difficult market conditions .
Answer: | 19.6 |
FINQA3294 | Please answer the given financial question based on the context.
Context: is expected to begin by late-2018 , after the necessary information technology infrastructure is in place . entergy louisiana proposed to recover the cost of ami through the implementation of a customer charge , net of certain benefits , phased in over the period 2019 through 2022 . the parties reached an uncontested stipulation permitting implementation of entergy louisiana 2019s proposed ami system , with modifications to the proposed customer charge . in july 2017 the lpsc approved the stipulation . entergy louisiana expects to recover the undepreciated balance of its existing meters through a regulatory asset at current depreciation rates . sources of capital entergy louisiana 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt or preferred membership interest issuances ; and 2022 bank financing under new or existing facilities . entergy louisiana may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest rates are favorable . all debt and common and preferred membership interest issuances by entergy louisiana require prior regulatory approval . preferred membership interest and debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements . entergy louisiana has sufficient capacity under these tests to meet its foreseeable capital needs . entergy louisiana 2019s receivables from the money pool were as follows as of december 31 for each of the following years. .
|2017|2016|2015|2014|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 11173|$ 22503|$ 6154|$ 2815|
see note 4 to the financial statements for a description of the money pool . entergy louisiana has a credit facility in the amount of $ 350 million scheduled to expire in august 2022 . the credit facility allows entergy louisiana to issue letters of credit against $ 15 million of the borrowing capacity of the facility . as of december 31 , 2017 , there were no cash borrowings and a $ 9.1 million letter of credit outstanding under the credit facility . in addition , entergy louisiana is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations to miso . a0 as of december 31 , 2017 , a $ 29.7 million letter of credit was outstanding under entergy louisiana 2019s uncommitted letter of credit a0facility . see note 4 to the financial statements for additional discussion of the credit facilities . the entergy louisiana nuclear fuel company variable interest entities have two separate credit facilities , one in the amount of $ 105 million and one in the amount of $ 85 million , both scheduled to expire in may 2019 . as of december 31 , 2017 , $ 65.7 million of loans were outstanding under the credit facility for the entergy louisiana river bend nuclear fuel company variable interest entity . as of december 31 , 2017 , $ 43.5 million in letters of credit to support a like amount of commercial paper issued and $ 36.4 million in loans were outstanding under the entergy louisiana waterford nuclear fuel company variable interest entity credit facility . see note 4 to the financial statements for additional discussion of the nuclear fuel company variable interest entity credit facilities . entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis .
Question: what percent higher yields from the money pool in the years 2016 and 2017 , than the years 2014 and 2015?
Answer: | 2.75471 |
FINQA3295 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements assessments in each of the tax jurisdictions resulting from these examinations . the company believes that adequate provisions have been made for income taxes for all periods through december 31 , 2010 . 12 . stock-based compensation the company recognized stock-based compensation of $ 52.6 million , $ 60.7 million and $ 54.8 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively . stock-based compensation for the year ended december 31 , 2009 included $ 6.9 million related to the modification of the vesting and exercise terms for certain employee 2019s equity awards . the company did not capitalize any stock-based compensation during the years ended december 31 , 2010 and 2009 . summary of stock-based compensation plans 2014the company maintains equity incentive plans that provide for the grant of stock-based awards to its directors , officers and employees . under the 2007 equity incentive plan ( 201c2007 plan 201d ) , which provides for the grant of non-qualified and incentive stock options , as well as restricted stock units , restricted stock and other stock-based awards , exercise prices in the case of non-qualified and incentive stock options are not less than the fair market value of the underlying common stock on the date of grant . equity awards typically vest ratably over various periods , generally four years , and generally expire ten years from the date of grant . stock options 2014as of december 31 , 2010 , the company had the ability to grant stock-based awards with respect to an aggregate of 22.0 million shares of common stock under the 2007 plan . the fair value of each option grant is estimated on the date of grant using the black-scholes option pricing model based on the assumptions noted in the table below . the risk-free treasury rate is based on the u.s . treasury yield in effect at the accounting measurement date . the expected life ( estimated period of time outstanding ) was estimated using the vesting term and historical exercise behavior of company employees . the expected volatility was based on historical volatility for a period equal to the expected life of the stock options . key assumptions used to apply this pricing model are as follows: .
||2010|2009|2008|
|range of risk-free interest rate|1.41% ( 1.41 % ) 2013 2.39% ( 2.39 % )|1.41% ( 1.41 % ) 2013 2.04% ( 2.04 % )|1.44% ( 1.44 % ) 2013 3.05% ( 3.05 % )|
|weighted average risk-free interest rate|2.35% ( 2.35 % )|1.71% ( 1.71 % )|1.89% ( 1.89 % )|
|expected life of option grants|4.60 years|4.00 years|4.00 years|
|range of expected volatility of underlying stock price|37.11% ( 37.11 % ) 2013 37.48% ( 37.48 % )|36.00% ( 36.00 % ) 2013 36.63% ( 36.63 % )|28.51% ( 28.51 % ) 2013 35.30% ( 35.30 % )|
|weighted average expected volatility of underlying stock price|37.14% ( 37.14 % )|36.23% ( 36.23 % )|29.10% ( 29.10 % )|
|expected annual dividends|n/a|n/a|n/a|
the weighted average grant date fair value per share during the years ended december 31 , 2010 , 2009 and 2008 was $ 15.03 , $ 8.90 and $ 9.55 , respectively . the intrinsic value of stock options exercised during the years ended december 31 , 2010 , 2009 and 2008 was $ 62.7 million , $ 40.1 million and $ 99.1 million , respectively . as of december 31 , 2010 , total unrecognized compensation expense related to unvested stock options was approximately $ 27.7 million and is expected to be recognized over a weighted average period of approximately two years . the amount of cash received from the exercise of stock options was approximately $ 129.1 million during the year ended december 31 , 2010 . during the year ended december 31 , 2010 , the company realized approximately $ 0.3 million of state tax benefits from the exercise of stock options. .
Question: what was the percent of the change in the intrinsic value of stock options from 2009 to 2010
Answer: | 0.56359 |
FINQA3296 | Please answer the given financial question based on the context.
Context: projected payments relating to these liabilities for the next five years ending december 31 , 2012 and the period from 2013 to 2017 are as follows ( in thousands ) : .
|2008|$ 980|
|2009|1185|
|2010|978|
|2011|1022|
|2012|1425|
|2013 - 2017|$ 8147|
( 18 ) concentration of risk the company generates a significant amount of revenue from large customers , however , no customers accounted for more than 10% ( 10 % ) of total revenue or total segment revenue in the years ended december 31 , 2007 , 2006 and 2005 . financial instruments that potentially subject the company to concentrations of credit risk consist primarily of cash equivalents and trade receivables . the company places its cash equivalents with high credit quality financial institutions and , by policy , limits the amount of credit exposure with any one financial institution . concentrations of credit risk with respect to trade receivables are limited because a large number of geographically diverse customers make up the company 2019s customer base , thus spreading the trade receivables credit risk . the company controls credit risk through monitoring procedures . ( 19 ) segment information upon completion of the certegy merger , the company implemented a new organizational structure , which resulted in a new operating segment structure beginning with the reporting of first quarter 2006 results . effective as of february 1 , 2006 , the company 2019s operating segments are tps and lps . this structure reflects how the businesses are operated and managed . the primary components of the tps segment , which includes certegy 2019s card and check services , the financial institution processing component of the former financial institution software and services segment of fis and the operations acquired from efunds , are enterprise solutions , integrated financial solutions and international businesses . the primary components of the lps segment are mortgage information services businesses , which includes the mortgage lender processing component of the former financial institution software and services segment of fis , and the former lender services , default management , and information services segments of fis . fidelity national information services , inc . and subsidiaries and affiliates notes to consolidated and combined financial statements 2014 ( continued ) .
Question: what is the growth rate in projected payments from 2009 to 2010?
Answer: | -0.17468 |
FINQA3297 | Please answer the given financial question based on the context.
Context: adjusted net income of $ 4.6 billion translated into adjusted earnings of $ 5.79 per diluted share , a best- ever performance . f0b7 freight revenues 2013 our freight revenues increased 7% ( 7 % ) year-over-year to $ 19.8 billion driven by volume growth of 2% ( 2 % ) , higher fuel surcharge revenue , and core pricing gains . growth in frac sand , coal , and intermodal shipments more than offset declines in grain , crude oil , finished vehicles , and rock shipments . f0b7 fuel prices 2013 our average price of diesel fuel in 2017 was $ 1.81 per gallon , an increase of 22% ( 22 % ) from 2016 , as both crude oil and conversion spreads between crude oil and diesel increased in 2017 . the higher price resulted in increased operating expenses of $ 334 million ( excluding any impact from year- over-year volume growth ) . gross-ton miles increased 5% ( 5 % ) , which also drove higher fuel expense . our fuel consumption rate , computed as gallons of fuel consumed divided by gross ton-miles in thousands , improved 2% ( 2 % ) . f0b7 free cash flow 2013 cash generated by operating activities totaled $ 7.2 billion , yielding free cash flow of $ 2.2 billion after reductions of $ 3.1 billion for cash used in investing activities and $ 2 billion in dividends , which included a 10% ( 10 % ) increase in our quarterly dividend per share from $ 0.605 to $ 0.665 declared and paid in the fourth quarter of 2017 . free cash flow is defined as cash provided by operating activities less cash used in investing activities and dividends paid . free cash flow is not considered a financial measure under gaap by sec regulation g and item 10 of sec regulation s-k and may not be defined and calculated by other companies in the same manner . we believe free cash flow is important to management and investors in evaluating our financial performance and measures our ability to generate cash without additional external financings . free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities . the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : .
|millions|2017|2016|2015|
|cash provided by operating activities|$ 7230|$ 7525|$ 7344|
|cash used in investing activities|-3086 ( 3086 )|-3393 ( 3393 )|-4476 ( 4476 )|
|dividends paid|-1982 ( 1982 )|-1879 ( 1879 )|-2344 ( 2344 )|
|free cash flow|$ 2162|$ 2253|$ 524|
2018 outlook f0b7 safety 2013 operating a safe railroad benefits all our constituents : our employees , customers , shareholders and the communities we serve . we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , training and employee engagement , quality control , and targeted capital investments . we will continue using and expanding the deployment of total safety culture and courage to care throughout our operations , which allows us to identify and implement best practices for employee and operational safety . we will continue our efforts to increase detection of rail defects ; improve or close crossings ; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs ( including risk assessment strategies ) , industry programs and local community activities across our network . f0b7 network operations 2013 in 2018 , we will continue to align resources with customer demand , maintain an efficient network , and ensure surge capability of our assets . f0b7 fuel prices 2013 fuel price projections for crude oil and natural gas continue to fluctuate in the current environment . we again could see volatile fuel prices during the year , as they are sensitive to global and u.s . domestic demand , refining capacity , geopolitical events , weather conditions and other factors . as prices fluctuate , there will be a timing impact on earnings , as our fuel surcharge programs trail increases or decreases in fuel price by approximately two months . lower fuel prices could have a positive impact on the economy by increasing consumer discretionary spending that potentially could increase demand for various consumer products that we transport . alternatively , lower fuel prices could likely have a negative impact on other commodities such as coal and domestic drilling-related shipments. .
Question: what was the percent of the cash generated by operating activities in 2017 that was used for investing activities
Answer: | 0.43056 |
FINQA3298 | Please answer the given financial question based on the context.
Context: note 15 : chipset design issue in january 2011 , as part of our ongoing quality assurance procedures , we identified a design issue with the intel ae 6 series express chipset family . the issue affected chipsets sold in the fourth quarter of 2010 and january 2011 . we subsequently implemented a silicon fix and began shipping the updated version of the affected chipset in february 2011 . the total cost in 2011 to repair and replace affected materials and systems , located with customers and in the market , was $ 422 million . we do not expect to have any significant future adjustments related to this issue . note 16 : borrowings short-term debt as of december 28 , 2013 , short-term debt consisted of drafts payable of $ 257 million and notes payable of $ 24 million ( drafts payable of $ 264 million and notes payable of $ 48 million as of december 29 , 2012 ) . we have an ongoing authorization from our board of directors to borrow up to $ 3.0 billion , including through the issuance of commercial paper . maximum borrowings under our commercial paper program during 2013 were $ 300 million ( $ 500 million during 2012 ) . our commercial paper was rated a-1+ by standard & poor 2019s and p-1 by moody 2019s as of december 28 , 2013 . long-term debt our long-term debt at the end of each period was as follows : ( in millions ) dec 28 , dec 29 .
|( in millions )|dec 282013|dec 292012|
|2012 senior notes due 2017 at 1.35% ( 1.35 % )|$ 2997|$ 2997|
|2012 senior notes due 2022 at 2.70% ( 2.70 % )|1494|1494|
|2012 senior notes due 2032 at 4.00% ( 4.00 % )|744|743|
|2012 senior notes due 2042 at 4.25% ( 4.25 % )|924|924|
|2011 senior notes due 2016 at 1.95% ( 1.95 % )|1499|1498|
|2011 senior notes due 2021 at 3.30% ( 3.30 % )|1996|1996|
|2011 senior notes due 2041 at 4.80% ( 4.80 % )|1490|1489|
|2009 junior subordinated convertible debentures due 2039 at 3.25% ( 3.25 % )|1075|1063|
|2005 junior subordinated convertible debentures due 2035 at 2.95% ( 2.95 % )|946|932|
|total long-term debt|$ 13165|$ 13136|
senior notes in the fourth quarter of 2012 , we issued $ 6.2 billion aggregate principal amount of senior unsecured notes for general corporate purposes and to repurchase shares of our common stock pursuant to our authorized common stock repurchase program . in the third quarter of 2011 , we issued $ 5.0 billion aggregate principal amount of senior unsecured notes , primarily to repurchase shares of our common stock pursuant to our authorized common stock repurchase program , and for general corporate purposes . our senior notes pay a fixed rate of interest semiannually . we may redeem our senior notes , in whole or in part , at any time at our option at specified redemption prices . the senior notes rank equally in right of payment with all of our other existing and future senior unsecured indebtedness and will effectively rank junior to all liabilities of our subsidiaries . table of contents intel corporation notes to consolidated financial statements ( continued ) .
Question: what is the net cash flow from long-term debt during 2013?
Answer: | 29.0 |
FINQA3299 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries notes to financial statements entergy new orleans securitization bonds - hurricane isaac in may 2015 the city council issued a financing order authorizing the issuance of securitization bonds to recover entergy new orleans 2019s hurricane isaac storm restoration costs of $ 31.8 million , including carrying costs , the costs of funding and replenishing the storm recovery reserve in the amount of $ 63.9 million , and approximately $ 3 million of up-front financing costs associated with the securitization . in july 2015 , entergy new orleans storm recovery funding i , l.l.c. , a company wholly owned and consolidated by entergy new orleans , issued $ 98.7 million of storm cost recovery bonds . the bonds have a coupon of 2.67% ( 2.67 % ) and an expected maturity date of june 2024 . although the principal amount is not due until the date given above , entergy new orleans storm recovery funding expects to make principal payments on the bonds over the next five years in the amounts of $ 11.4 million for 2016 , $ 10.6 million for 2017 , $ 11 million for 2018 , $ 11.2 million for 2019 , and $ 11.6 million for 2020 . with the proceeds , entergy new orleans storm recovery funding purchased from entergy new orleans the storm recovery property , which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds . the storm recovery property is reflected as a regulatory asset on the consolidated entergy new orleans balance sheet . the creditors of entergy new orleans do not have recourse to the assets or revenues of entergy new orleans storm recovery funding , including the storm recovery property , and the creditors of entergy new orleans storm recovery funding do not have recourse to the assets or revenues of entergy new orleans . entergy new orleans has no payment obligations to entergy new orleans storm recovery funding except to remit storm recovery charge collections . entergy texas securitization bonds - hurricane rita in april 2007 the puct issued a financing order authorizing the issuance of securitization bonds to recover $ 353 million of entergy texas 2019s hurricane rita reconstruction costs and up to $ 6 million of transaction costs , offset by $ 32 million of related deferred income tax benefits . in june 2007 , entergy gulf states reconstruction funding i , llc , a company that is now wholly-owned and consolidated by entergy texas , issued $ 329.5 million of senior secured transition bonds ( securitization bonds ) as follows : amount ( in thousands ) .
||amount ( in thousands )|
|senior secured transition bonds series a:||
|tranche a-1 ( 5.51% ( 5.51 % ) ) due october 2013|$ 93500|
|tranche a-2 ( 5.79% ( 5.79 % ) ) due october 2018|121600|
|tranche a-3 ( 5.93% ( 5.93 % ) ) due june 2022|114400|
|total senior secured transition bonds|$ 329500|
although the principal amount of each tranche is not due until the dates given above , entergy gulf states reconstruction funding expects to make principal payments on the bonds over the next five years in the amounts of $ 26 million for 2016 , $ 27.6 million for 2017 , $ 29.2 million for 2018 , $ 30.9 million for 2019 , and $ 32.8 million for 2020 . all of the scheduled principal payments for 2016 are for tranche a-2 , $ 23.6 million of the scheduled principal payments for 2017 are for tranche a-2 and $ 4 million of the scheduled principal payments for 2017 are for tranche a-3 . all of the scheduled principal payments for 2018-2020 are for tranche a-3 . with the proceeds , entergy gulf states reconstruction funding purchased from entergy texas the transition property , which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds . the transition property is reflected as a regulatory asset on the consolidated entergy texas balance sheet . the creditors of entergy texas do not have recourse to the assets or revenues of entergy gulf states reconstruction funding , including the transition property , and the creditors of entergy gulf states reconstruction funding do not have recourse to the assets or revenues of entergy texas . entergy texas has no payment obligations to entergy gulf states reconstruction funding except to remit transition charge collections. .
Question: what was the ratio of the scheduled principal payments in 2017 for tranche a-2 to a-3
Answer: | 5.9 |
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