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FINQA3500 | Please answer the given financial question based on the context.
Context: the changes in the gross amount of unrecognized tax benefits for the year ended december 29 , 2007 are as follows: .
||( in thousands )|
|balance as of december 31 2006|$ 337226|
|gross amount of the decreases in unrecognized tax benefits of tax positions taken during a prior year|-31608 ( 31608 )|
|gross amount of the increases in unrecognized tax benefits as a result of tax positions taken during the current year|7764|
|amount of decreases in unrecognized tax benefits relating to settlements with taxing authorities|-6001 ( 6001 )|
|reductions to unrecognized tax benefits resulting from the lapse of the applicable statute of limitations|-511 ( 511 )|
|balance as of december 29 2007|$ 306870|
as of december 29 , 2007 , $ 228.4 million of unrecognized tax benefits would , if recognized , reduce the effective tax rate , as compared to $ 232.1 million as of december 31 , 2006 , the first day of cadence 2019s fiscal year . the total amounts of interest and penalties recognized in the consolidated income statement for the year ended december 29 , 2007 resulted in net tax benefits of $ 11.1 million and $ 0.4 million , respectively , primarily due to the effective settlement of tax audits during the year . the total amounts of gross accrued interest and penalties recognized in the consolidated balance sheets as of december 29 , 2007 , were $ 47.9 million and $ 9.7 million , respectively as compared to $ 65.8 million and $ 10.1 million , respectively as of december 31 , 2006 . note 9 . acquisitions for each of the acquisitions described below , the results of operations and the estimated fair value of the assets acquired and liabilities assumed have been included in cadence 2019s consolidated financial statements from the date of the acquisition . comparative pro forma financial information for all 2007 , 2006 and 2005 acquisitions have not been presented because the results of operations were not material to cadence 2019s consolidated financial statements . 2007 acquisitions during 2007 , cadence acquired invarium , inc. , a san jose-based developer of advanced lithography-modeling and pattern-synthesis technology , and clear shape technologies , inc. , a san jose-based design for manufacturing technology company specializing in design-side solutions to minimize yield loss for advanced semiconductor integrated circuits . cadence acquired these two companies for an aggregate purchase price of $ 75.5 million , which included the payment of cash , the fair value of assumed options and acquisition costs . the $ 45.7 million of goodwill recorded in connection with these acquisitions is not expected to be deductible for income tax purposes . prior to acquiring clear shape technologies , inc. , cadence had an investment of $ 2.0 million in the company , representing a 12% ( 12 % ) ownership interest , which had been accounted for under the cost method of accounting . in accordance with sfas no . 141 , 201cbusiness combinations , 201d cadence accounted for this acquisition as a step acquisition . subsequent adjustments to the purchase price of these acquired companies are included in the 201cother 201d line of the changes of goodwill table in note 10 below . 2006 acquisition in march 2006 , cadence acquired a company for an aggregate initial purchase price of $ 25.8 million , which included the payment of cash , the fair value of assumed options and acquisition costs . the preliminary allocation of the purchase price was recorded as $ 17.4 million of goodwill , $ 9.4 million of identifiable intangible assets and $ ( 1.0 ) million of net liabilities . the $ 17.4 million of goodwill recorded in connection with this acquisition is not expected to be deductible for income tax purposes . subsequent adjustments to the purchase price of this acquired company are included in the 201cother 201d line of the changes of goodwill table in note 10 below. .
Question: what percentage of the aggregate purchase price for the two companies in 2007 is goodwill?
Answer: | 0.6053 |
FINQA3501 | Please answer the given financial question based on the context.
Context: $ 25.7 million in cash , including $ 4.2 million in taxes and 1373609 of hep 2019s common units having a fair value of $ 53.5 million . roadrunner / beeson pipelines transaction also on december 1 , 2009 , hep acquired our two newly constructed pipelines for $ 46.5 million , consisting of a 65- mile , 16-inch crude oil pipeline ( the 201croadrunner pipeline 201d ) that connects our navajo refinery lovington facility to a terminus of centurion pipeline l.p . 2019s pipeline extending between west texas and cushing , oklahoma and a 37- mile , 8-inch crude oil pipeline that connects hep 2019s new mexico crude oil gathering system to our navajo refinery lovington facility ( the 201cbeeson pipeline 201d ) . tulsa west loading racks transaction on august 1 , 2009 , hep acquired from us , certain truck and rail loading/unloading facilities located at our tulsa west facility for $ 17.5 million . the racks load refined products and lube oils produced at the tulsa west facility onto rail cars and/or tanker trucks . lovington-artesia pipeline transaction on june 1 , 2009 , hep acquired our newly constructed , 16-inch intermediate pipeline for $ 34.2 million that runs 65 miles from our navajo refinery 2019s crude oil distillation and vacuum facilities in lovington , new mexico to its petroleum refinery located in artesia , new mexico . slc pipeline joint venture interest on march 1 , 2009 , hep acquired a 25% ( 25 % ) joint venture interest in the slc pipeline , a new 95-mile intrastate pipeline system jointly owned with plains . the slc pipeline commenced operations effective march 2009 and allows various refineries in the salt lake city area , including our woods cross refinery , to ship crude oil into the salt lake city area from the utah terminus of the frontier pipeline as well as crude oil flowing from wyoming and utah via plains 2019 rocky mountain pipeline . hep 2019s capitalized joint venture contribution was $ 25.5 million . rio grande pipeline sale on december 1 , 2009 , hep sold its 70% ( 70 % ) interest in rio grande pipeline company ( 201crio grande 201d ) to a subsidiary of enterprise products partners lp for $ 35 million . results of operations of rio grande are presented in discontinued operations . in accounting for this sale , hep recorded a gain of $ 14.5 million and a receivable of $ 2.2 million representing its final distribution from rio grande . the recorded net asset balance of rio grande at december 1 , 2009 , was $ 22.7 million , consisting of cash of $ 3.1 million , $ 29.9 million in properties and equipment , net and $ 10.3 million in equity , representing bp , plc 2019s 30% ( 30 % ) noncontrolling interest . the following table provides income statement information related to hep 2019s discontinued operations : year ended december 31 , 2009 ( in thousands ) .
||year ended december 31 2009 ( in thousands )|
|income from discontinued operations before income taxes|$ 5367|
|income tax expense|-942 ( 942 )|
|income from discontinued operations net|4425|
|gain on sale of discontinued operations before income taxes|14479|
|income tax expense|-1978 ( 1978 )|
|gain on sale of discontinued operations net|12501|
|income from discontinued operations net|$ 16926|
transportation agreements hep serves our refineries under long-term pipeline and terminal , tankage and throughput agreements expiring in 2019 through 2026 . under these agreements , we pay hep fees to transport , store and throughput volumes of refined product and crude oil on hep 2019s pipeline and terminal , tankage and loading rack facilities that result in minimum annual payments to hep . under these agreements , the agreed upon tariff rates are subject to annual tariff rate adjustments on july 1 at a rate based upon the percentage change in producer price index ( 201cppi 201d ) or federal energy .
Question: of the recorded net asset balance of rio grande at december 1 , 2009 , what percentage was cash?
Answer: | 0.13656 |
FINQA3502 | Please answer the given financial question based on the context.
Context: contractual obligations by less than more than period as of june 30 , 2011 1 year 1-3 years 3-5 years 5 years total .
|contractual obligations byperiod as of june 30 2011|less than1 year|1-3 years|3-5 years|more than5 years|total|
|operating lease obligations|$ 7185|$ 10511|$ 7004|$ 1487|$ 26187|
|capital lease obligations|3016|-|-|-|3016|
|notes payable includingaccrued interest|23087|45431|82508|-|151026|
|purchase obligations|10700|-|-|-|10700|
|total|$ 43988|$ 55942|$ 89512|$ 1487|$ 190929|
recent accounting pronouncements in october 2009 , the fasb issued accounting standards update ( 201casu 201d ) no . 2009-13 , multiple-deliverable revenue arrangements , which is effective for arrangements beginning or changed during fiscal years starting after june 15 , 2010 . this new standard eliminates the use of the residual method of revenue recognition and requires the allocation of consideration to each deliverable using the relative selling price method . this new guidance did not have a material impact on revenue recognition because nearly all of the company 2019s revenue arrangements are subject to accounting standards codification ( 201casc 201d ) topic 985 . such arrangements are considered out of scope for this asu . in october 2009 , the fasb also issued asu no . 2009-14 , software : certain revenue arrangements that include software elements , which is also effective for arrangements beginning or changed during fiscal years starting after june 15 , 2010 . this revision to software ( topic 985 ) drops from its scope all tangible products containing both software and non-software components that operate together to deliver the product 2019s functions . the majority of the company 2019s software arrangements are not tangible products with software components ; therefore , this update did not materially impact the company . the fasb issued asu no . 2011-04 , fair value measurement in may 2011 , which is effective for the company beginning july 1 , 2012 and is to be applied prospectively . the updated explanatory guidance on measuring fair value will be adopted by the company at that time and is not expected to have a significant impact on our fair value calculations . no additional fair value measurements are required as a result of the update . the fasb also issued asu no . 2011-05 , comprehensive income in june 2011 , which is effective for the company beginning january 1 , 2012 and will be applied retrospectively . the updated guidance requires non-owner changes in stockholders 2019 equity to be reported either in a single continuous statement of comprehensive income or in two separate but consecutive statements , rather than as part of the statement of changes in stockholders 2019 equity . no changes in disclosure will be required as a result of the update . critical accounting policies we prepare our consolidated financial statements in accordance with accounting principles generally accepted in the united states ( 201cu.s . gaap 201d ) . the significant accounting policies are discussed in note 1 to the consolidated financial statements . the preparation of consolidated financial statements in accordance with u.s . gaap requires us to make estimates and judgments that affect the reported amounts of assets , liabilities , revenue and expenses , as well as disclosure of contingent assets and liabilities . we base our estimates and judgments upon historical experience and other factors believed to be reasonable under the circumstances . changes in estimates or assumptions could result in a material adjustment to the consolidated financial statements . we have identified several critical accounting estimates . an accounting estimate is considered critical if both : ( a ) the nature of the estimates or assumptions is material due to the levels of subjectivity and judgment involved , and ( b ) the impact of changes in the estimates and assumptions would have a material effect on the consolidated financial statements. .
Question: what was the percent of the total operating lease obligations that was due in less than 1 year
Answer: | 0.27437 |
FINQA3503 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries management's financial discussion and analysis the purchased power capacity variance is primarily due to higher capacity charges . a portion of the variance is due to the amortization of deferred capacity costs and is offset in base revenues due to base rate increases implemented to recover incremental deferred and ongoing purchased power capacity charges . the volume/weather variance is primarily due to the effect of less favorable weather compared to the same period in 2007 and decreased electricity usage primarily during the unbilled sales period . hurricane gustav and hurricane ike , which hit the utility's service territories in september 2008 , contributed an estimated $ 46 million to the decrease in electricity usage . industrial sales were also depressed by the continuing effects of the hurricanes and , especially in the latter part of the year , because of the overall decline of the economy , leading to lower usage in the latter part of the year affecting both the large customer industrial segment as well as small and mid-sized industrial customers . the decreases in electricity usage were partially offset by an increase in residential and commercial customer electricity usage that occurred during the periods of the year not affected by the hurricanes . the retail electric price variance is primarily due to : an increase in the attala power plant costs recovered through the power management rider by entergy mississippi . the net income effect of this recovery is limited to a portion representing an allowed return on equity with the remainder offset by attala power plant costs in other operation and maintenance expenses , depreciation expenses , and taxes other than income taxes ; a storm damage rider that became effective in october 2007 at entergy mississippi ; and an energy efficiency rider that became effective in november 2007 at entergy arkansas . the establishment of the storm damage rider and the energy efficiency rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense with no impact on net income . the retail electric price variance was partially offset by : the absence of interim storm recoveries through the formula rate plans at entergy louisiana and entergy gulf states louisiana which ceased upon the act 55 financing of storm costs in the third quarter 2008 ; and a credit passed on to customers as a result of the act 55 storm cost financings . refer to "liquidity and capital resources - hurricane katrina and hurricane rita" below and note 2 to the financial statements for a discussion of the interim recovery of storm costs and the act 55 storm cost financings . non-utility nuclear following is an analysis of the change in net revenue comparing 2008 to 2007 . amount ( in millions ) .
||amount ( in millions )|
|2007 net revenue|$ 1839|
|realized price changes|309|
|palisades acquisition|98|
|volume variance ( other than palisades )|73|
|fuel expenses ( other than palisades )|-19 ( 19 )|
|other|34|
|2008 net revenue|$ 2334|
as shown in the table above , net revenue for non-utility nuclear increased by $ 495 million , or 27% ( 27 % ) , in 2008 compared to 2007 primarily due to higher pricing in its contracts to sell power , additional production available from the acquisition of palisades in april 2007 , and fewer outage days . in addition to the refueling outages shown in the .
Question: what portion of the increase in net revenue from non-utility nuclear is attributed to the palisades acquisition?
Answer: | 0.19798 |
FINQA3504 | Please answer the given financial question based on the context.
Context: .
|buildings and improvements|39|
|office furniture and equipment|5|
|manufacturing and engineering equipment|5|
|vehicles|5|
long-lived assets in accordance with sfas no . 144 , accounting for the impairment or disposal of long-lived assets , the company reviews long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be fully recoverable . the carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset . that assessment is based on the carrying amount of the asset at the date it is tested for recoverability . an impairment loss is measured as the amount by which the carrying amount of a long-lived asset exceeds its fair value . sfas no . 142 , goodwill and other intangible assets , requires that goodwill and intangible assets with indefinite useful lives should not be amortized but rather be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that they may be impaired . the company did not recognize any goodwill or intangible asset impairment charges in 2008 , 2007 , or 2006 . the company established reporting units based on its current reporting structure . for purposes of testing goodwill for impairment , goodwill has been allocated to these reporting units to the extent it relates to each reporting unit . sfas no . 142 also requires that intangible assets with definite lives be amortized over their estimated useful lives and reviewed for impairment in accordance with sfas no . 144 . the company is currently amortizing its acquired intangible assets with definite lives over periods ranging from 3 to 10 years . dividends on june 6 , 2008 the board of directors declared a dividend of $ 0.75 per share to be paid on december 15 , 2008 to shareholders of record on december 1 , 2008 . the company paid out a dividend in the amount of $ 150251 . the dividend has been reported as a reduction of retained earnings . on august 1 , 2007 the board of directors declared a dividend of $ 0.75 per share to be paid on september 14 , 2007 to shareholders of record on august 15 , 2007 . the company paid out a dividend in the amount of $ 162531 . the dividend has been reported as a reduction of retained earnings . on april 26 , 2006 the board of directors declared a post-split dividend of $ 0.50 per share to be paid on december 15 , 2006 to shareholders of record on december 1 , 2006 . the company paid out a dividend in the amount of $ 107923 . the dividend has been reported as a reduction of retained earnings . approximately $ 186383 and $ 159210 of retained earnings are indefinitely restricted from distribution to stockholders pursuant to the laws of taiwan at december 27 , 2008 and december 29 , 2007 , respectively . intangible assets at december 27 , 2008 and december 29 , 2007 , the company had patents , license agreements , customer related intangibles and other identifiable finite-lived intangible assets recorded at a cost of $ 152104 and $ 159503 , respectively . the company 2019s excess purchase cost over fair value of net assets acquired ( goodwill ) was $ 127429 at december 27 , 2008 and $ 98494 at december 29 , 2007 . identifiable , finite-lived intangible assets are amortized over their estimated useful lives on a straight-line basis over three to ten years . accumulated amortization was $ 48579 and $ 59967 at december 27 , 2008 and december 29 , 2007 respectively . amortization expense was $ 30874 , $ 26942 , and $ 21147 , for the years ended .
Question: considering the year 2007 , how many shares belonged to the shareholders?
Answer: | 216708.0 |
FINQA3505 | 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: assuming a weighted average fair value per share equal to the average december 31 , 2014 cost , what would be the total expense for issuance of the remaining plan shares at 12/31/14?
Answer: | 50422000.0 |
FINQA3506 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries notes to consolidated financial statements 2030 purchased interests represent senior and subordinated interests , purchased in connection with secondary market-making activities , in securitization entities in which the firm also holds retained interests . 2030 substantially all of the total outstanding principal amount and total retained interests relate to securitizations during 2014 and thereafter as of december 2018 , and relate to securitizations during 2012 and thereafter as of december 2017 . 2030 the fair value of retained interests was $ 3.28 billion as of december 2018 and $ 2.13 billion as of december 2017 . in addition to the interests in the table above , the firm had other continuing involvement in the form of derivative transactions and commitments with certain nonconsolidated vies . the carrying value of these derivatives and commitments was a net asset of $ 75 million as of december 2018 and $ 86 million as of december 2017 , and the notional amount of these derivatives and commitments was $ 1.09 billion as of december 2018 and $ 1.26 billion as of december 2017 . the notional amounts of these derivatives and commitments are included in maximum exposure to loss in the nonconsolidated vie table in note 12 . the table below presents information about the weighted average key economic assumptions used in measuring the fair value of mortgage-backed retained interests. .
|$ in millions|as of december 2018|as of december 2017|
|fair value of retained interests|$ 3151|$ 2071|
|weighted average life ( years )|7.2|6.0|
|constant prepayment rate|11.9% ( 11.9 % )|9.4% ( 9.4 % )|
|impact of 10% ( 10 % ) adverse change|$ -27 ( 27 )|$ -19 ( 19 )|
|impact of 20% ( 20 % ) adverse change|$ -53 ( 53 )|$ -35 ( 35 )|
|discount rate|4.7% ( 4.7 % )|4.2% ( 4.2 % )|
|impact of 10% ( 10 % ) adverse change|$ -75 ( 75 )|$ -35 ( 35 )|
|impact of 20% ( 20 % ) adverse change|$ -147 ( 147 )|$ -70 ( 70 )|
in the table above : 2030 amounts do not reflect the benefit of other financial instruments that are held to mitigate risks inherent in these retained interests . 2030 changes in fair value based on an adverse variation in assumptions generally cannot be extrapolated because the relationship of the change in assumptions to the change in fair value is not usually linear . 2030 the impact of a change in a particular assumption is calculated independently of changes in any other assumption . in practice , simultaneous changes in assumptions might magnify or counteract the sensitivities disclosed above . 2030 the constant prepayment rate is included only for positions for which it is a key assumption in the determination of fair value . 2030 the discount rate for retained interests that relate to u.s . government agency-issued collateralized mortgage obligations does not include any credit loss . expected credit loss assumptions are reflected in the discount rate for the remainder of retained interests . the firm has other retained interests not reflected in the table above with a fair value of $ 133 million and a weighted average life of 4.2 years as of december 2018 , and a fair value of $ 56 million and a weighted average life of 4.5 years as of december 2017 . due to the nature and fair value of certain of these retained interests , the weighted average assumptions for constant prepayment and discount rates and the related sensitivity to adverse changes are not meaningful as of both december 2018 and december 2017 . the firm 2019s maximum exposure to adverse changes in the value of these interests is the carrying value of $ 133 million as of december 2018 and $ 56 million as of december 2017 . note 12 . variable interest entities a variable interest in a vie is an investment ( e.g. , debt or equity ) or other interest ( e.g. , derivatives or loans and lending commitments ) that will absorb portions of the vie 2019s expected losses and/or receive portions of the vie 2019s expected residual returns . the firm 2019s variable interests in vies include senior and subordinated debt ; loans and lending commitments ; limited and general partnership interests ; preferred and common equity ; derivatives that may include foreign currency , equity and/or credit risk ; guarantees ; and certain of the fees the firm receives from investment funds . certain interest rate , foreign currency and credit derivatives the firm enters into with vies are not variable interests because they create , rather than absorb , risk . vies generally finance the purchase of assets by issuing debt and equity securities that are either collateralized by or indexed to the assets held by the vie . the debt and equity securities issued by a vie may include tranches of varying levels of subordination . the firm 2019s involvement with vies includes securitization of financial assets , as described in note 11 , and investments in and loans to other types of vies , as described below . see note 11 for further information about securitization activities , including the definition of beneficial interests . see note 3 for the firm 2019s consolidation policies , including the definition of a vie . goldman sachs 2018 form 10-k 149 .
Question: what is the growth rate in the fair value of retained interests in 2018 compare to 2017?
Answer: | 0.53991 |
FINQA3507 | Please answer the given financial question based on the context.
Context: 3 . discontinued operations during the second quarter of 2012 , the board of directors authorized the sale of our homecare business , which had previously been reported as part of the merchant gases operating segment . this business has been accounted for as a discontinued operation . in the third quarter of 2012 , we sold the majority of our homecare business to the linde group for sale proceeds of 20ac590 million ( $ 777 ) and recognized a gain of $ 207.4 ( $ 150.3 after-tax , or $ .70 per share ) . the sale proceeds included 20ac110 million ( $ 144 ) that was contingent on the outcome of certain retender arrangements . these proceeds were reflected in payables and accrued liabilities on our consolidated balance sheet as of 30 september 2013 . based on the outcome of the retenders , we were contractually required to return proceeds to the linde group . in the fourth quarter of 2014 , we made a payment to settle this liability and recognized a gain of $ 1.5 . during the third quarter of 2012 , an impairment charge of $ 33.5 ( $ 29.5 after-tax , or $ .14 per share ) was recorded to write down the remaining business , which was primarily in the united kingdom and ireland , to its estimated net realizable value . in the fourth quarter of 2013 , an additional charge of $ 18.7 ( $ 13.6 after-tax , or $ .06 per share ) was recorded to update our estimate of the net realizable value . in the first quarter of 2014 , we sold the remaining portion of the homecare business for a36.1 million ( $ 9.8 ) and recorded a gain on sale of $ 2.4 . we entered into an operations guarantee related to the obligations under certain homecare contracts assigned in connection with the transaction . refer to note 16 , commitments and contingencies , for additional information . the results of discontinued operations are summarized below: .
||2014|2013|2012|
|sales|$ 8.5|$ 52.3|$ 258.0|
|income before taxes|$ .7|$ 3.8|$ 68.1|
|income tax provision|2014|.2|20.8|
|income from operations of discontinued operations|.7|3.6|47.3|
|gain ( loss ) on sale of business and impairment/write-down net of tax|3.9|-13.6 ( 13.6 )|120.8|
|income ( loss ) from discontinued operations net of tax|$ 4.6|$ -10.0 ( 10.0 )|$ 168.1|
the assets and liabilities classified as discontinued operations for the homecare business at 30 september 2013 consisted of $ 2.5 in trade receivables , net , and $ 2.4 in payables and accrued liabilities . as of 30 september 2014 , no assets or liabilities were classified as discontinued operations. .
Question: considering the year 2014 , what is the percentage of income from operations of discontinued operations concerning income from discontinued operations net of tax?
Answer: | 0.15217 |
FINQA3508 | Please answer the given financial question based on the context.
Context: analog devices , inc . notes to consolidated financial statements 2014 ( continued ) a summary of the company 2019s restricted stock unit award activity as of october 31 , 2015 and changes during the fiscal year then ended is presented below : restricted stock units outstanding ( in thousands ) weighted- average grant- date fair value per share .
||restrictedstock unitsoutstanding ( in thousands )|weighted-average grant-date fair valueper share|
|restricted stock units outstanding at november 1 2014|3188|$ 43.46|
|units granted|818|$ 52.25|
|restrictions lapsed|-1151 ( 1151 )|$ 39.72|
|forfeited|-157 ( 157 )|$ 45.80|
|restricted stock units outstanding at october 31 2015|2698|$ 47.59|
as of october 31 , 2015 , there was $ 108.8 million of total unrecognized compensation cost related to unvested share- based awards comprised of stock options and restricted stock units . that cost is expected to be recognized over a weighted- average period of 1.3 years . the total grant-date fair value of shares that vested during fiscal 2015 , 2014 and 2013 was approximately $ 65.6 million , $ 57.4 million and $ 63.9 million , respectively . common stock repurchase program the company 2019s common stock repurchase program has been in place since august 2004 . in the aggregate , the board of directors have authorized the company to repurchase $ 5.6 billion of the company 2019s common stock under the program . under the program , the company may repurchase outstanding shares of its common stock from time to time in the open market and through privately negotiated transactions . unless terminated earlier by resolution of the company 2019s board of directors , the repurchase program will expire when the company has repurchased all shares authorized under the program . as of october 31 , 2015 , the company had repurchased a total of approximately 140.7 million shares of its common stock for approximately $ 5.0 billion under this program . an additional $ 544.5 million remains available for repurchase of shares under the current authorized program . the repurchased shares are held as authorized but unissued shares of common stock . the company also , from time to time , repurchases shares in settlement of employee minimum tax withholding obligations due upon the vesting of restricted stock units or the exercise of stock options . the withholding amount is based on the employees minimum statutory withholding requirement . any future common stock repurchases will be dependent upon several factors , including the company's financial performance , outlook , liquidity and the amount of cash the company has available in the united states . preferred stock the company has 471934 authorized shares of $ 1.00 par value preferred stock , none of which is issued or outstanding . the board of directors is authorized to fix designations , relative rights , preferences and limitations on the preferred stock at the time of issuance . 4 . industry , segment and geographic information the company operates and tracks its results in one reportable segment based on the aggregation of six operating segments . the company designs , develops , manufactures and markets a broad range of integrated circuits ( ics ) . the chief executive officer has been identified as the company's chief operating decision maker . the company has determined that all of the company's operating segments share the following similar economic characteristics , and therefore meet the criteria established for operating segments to be aggregated into one reportable segment , namely : 2022 the primary source of revenue for each operating segment is the sale of integrated circuits . 2022 the integrated circuits sold by each of the company's operating segments are manufactured using similar semiconductor manufacturing processes and raw materials in either the company 2019s own production facilities or by third-party wafer fabricators using proprietary processes . 2022 the company sells its products to tens of thousands of customers worldwide . many of these customers use products spanning all operating segments in a wide range of applications . 2022 the integrated circuits marketed by each of the company's operating segments are sold globally through a direct sales force , third-party distributors , independent sales representatives and via our website to the same types of customers . all of the company's operating segments share a similar long-term financial model as they have similar economic characteristics . the causes for variation in operating and financial performance are the same among the company's operating segments and include factors such as ( i ) life cycle and price and cost fluctuations , ( ii ) number of competitors , ( iii ) product .
Question: what is the growth rate in the fair value of the total restricted stock units outstanding in 2015?
Answer: | -0.07328 |
FINQA3509 | Please answer the given financial question based on the context.
Context: 58 2016 annual report note 12 . business acquisition bayside business solutions , inc . effective july 1 , 2015 , the company acquired all of the equity interests of bayside business solutions , an alabama-based company that provides technology solutions and payment processing services primarily for the financial services industry , for $ 10000 paid in cash . this acquisition was funded using existing operating cash . the acquisition of bayside business solutions expanded the company 2019s presence in commercial lending within the industry . management has completed a purchase price allocation of bayside business solutions and its assessment of the fair value of acquired assets and liabilities assumed . the recognized amounts of identifiable assets acquired and liabilities assumed , based upon their fair values as of july 1 , 2015 are set forth below: .
|current assets|$ 1922|
|long-term assets|253|
|identifiable intangible assets|5005|
|total liabilities assumed|-3279 ( 3279 )|
|total identifiable net assets|3901|
|goodwill|6099|
|net assets acquired|$ 10000|
the goodwill of $ 6099 arising from this acquisition consists largely of the growth potential , synergies and economies of scale expected from combining the operations of the company with those of bayside business solutions , together with the value of bayside business solutions 2019 assembled workforce . goodwill from this acquisition has been allocated to our banking systems and services segment . the goodwill is not expected to be deductible for income tax purposes . identifiable intangible assets from this acquisition consist of customer relationships of $ 3402 , $ 659 of computer software and other intangible assets of $ 944 . the weighted average amortization period for acquired customer relationships , acquired computer software , and other intangible assets is 15 years , 5 years , and 20 years , respectively . current assets were inclusive of cash acquired of $ 1725 . the fair value of current assets acquired included accounts receivable of $ 178 . the gross amount of receivables was $ 178 , none of which was expected to be uncollectible . during fiscal year 2016 , the company incurred $ 55 in costs related to the acquisition of bayside business solutions . these costs included fees for legal , valuation and other fees . these costs were included within general and administrative expenses . the results of bayside business solutions 2019 operations included in the company 2019s consolidated statement of income for the twelve months ended june 30 , 2016 included revenue of $ 4273 and after-tax net income of $ 303 . the accompanying consolidated statements of income for the fiscal year ended june 30 , 2016 do not include any revenues and expenses related to this acquisition prior to the acquisition date . the impact of this acquisition was considered immaterial to both the current and prior periods of our consolidated financial statements and pro forma financial information has not been provided . banno , llc effective march 1 , 2014 , the company acquired all of the equity interests of banno , an iowa-based company that provides web and transaction marketing services with a focus on the mobile medium , for $ 27910 paid in cash . this acquisition was funded using existing operating cash . the acquisition of banno expanded the company 2019s presence in online and mobile technologies within the industry . during fiscal year 2014 , the company incurred $ 30 in costs related to the acquisition of banno . these costs included fees for legal , valuation and other fees . these costs were included within general and administrative expenses . the results of banno's operations included in the company's consolidated statements of income for the year ended june 30 , 2016 included revenue of $ 6393 and after-tax net loss of $ 1289 . for the year ended june 30 , 2015 , our consolidated statements of income included revenue of $ 4175 and after-tax net loss of $ 1784 attributable to banno . the results of banno 2019s operations included in the company 2019s consolidated statement of operations from the acquisition date to june 30 , 2014 included revenue of $ 848 and after-tax net loss of $ 1121 . the accompanying consolidated statements of income for the twelve month period ended june 30 , 2016 do not include any revenues and expenses related to this acquisition prior to the acquisition date . the impact of this acquisition was considered immaterial to both the current and prior periods of our consolidated financial statements and pro forma financial information has not been provided. .
Question: what was the percent of the ash in the current assets acquired
Answer: | 0.8975 |
FINQA3510 | Please answer the given financial question based on the context.
Context: 4 . business restructuring and cost reduction plans we recorded charges in 2013 and 2012 for business restructuring and cost reduction plans . these charges are reflected on the consolidated income statements as 201cbusiness restructuring and cost reduction plans . 201d the charges for these plans have been excluded from segment operating income . 2013 plan during the fourth quarter of 2013 , we recorded an expense of $ 231.6 ( $ 157.9 after-tax , or $ .74 per share ) reflecting actions to better align our cost structure with current market conditions . these charges include $ 100.4 for asset actions and $ 58.5 for the final settlement of a long-term take-or-pay silane contract primarily impacting the electronics business due to continued weakness in the photovoltaic ( pv ) and light-emitting diode ( led ) markets . in addition , $ 71.9 was recorded for severance , benefits , and other contractual obligations associated with the elimination of approximately 700 positions and executive changes . these charges primarily impact our merchant gases businesses and corporate functions . the actions are in response to weaker than expected business conditions in europe and asia , reorganization of our operations and functional areas , and previously announced senior executive changes . the planned actions are expected to be completed by the end of fiscal year 2014 . the 2013 charges relate to the businesses at the segment level as follows : $ 61.0 in merchant gases , $ 28.6 in tonnage gases , $ 141.0 in electronics and performance materials , and $ 1.0 in equipment and energy . the following table summarizes the carrying amount of the accrual for the 2013 plan at 30 september 2013 : severance and other benefits actions contract actions/ other total .
||severance and other benefits|asset actions|contract actions/ other|total|
|2013 charge|$ 71.9|$ 100.4|$ 59.3|$ 231.6|
|amount reflected in pension liability|-6.9 ( 6.9 )|2014|2014|-6.9 ( 6.9 )|
|noncash expenses|2014|-100.4 ( 100.4 )|2014|-100.4 ( 100.4 )|
|cash expenditures|-3.0 ( 3.0 )|2014|-58.5 ( 58.5 )|-61.5 ( 61.5 )|
|currency translation adjustment|.4|2014|2014|.4|
|accrued balance|$ 62.4|$ 2014|$ .8|$ 63.2|
2012 plans in 2012 , we recorded an expense of $ 327.4 ( $ 222.4 after-tax , or $ 1.03 per share ) for business restructuring and cost reduction plans in our polyurethane intermediates ( pui ) , electronics , and european merchant businesses . during the second quarter of 2012 , we recorded an expense of $ 86.8 ( $ 60.6 after-tax , or $ .28 per share ) for actions to remove stranded costs resulting from our decision to exit the homecare business , the reorganization of the merchant business , and actions to right-size our european cost structure in light of the challenging economic outlook . the charge related to the businesses at the segment level as follows : $ 77.3 in merchant gases , $ 3.8 in tonnage gases , and $ 5.7 in electronics and performance materials . as of 30 september 2013 , the planned actions were completed . during the fourth quarter of 2012 , we took actions to exit the pui business to improve costs , resulting in a net expense of $ 54.6 ( $ 34.8 after-tax , or $ .16 per share ) . we sold certain assets and the rights to a supply contract for $ 32.7 in cash at closing . in connection with these actions , we recognized an expense of $ 26.6 , for the net book value of assets sold and those committed to be disposed of other than by sale . the remaining charge was primarily related to contract terminations and an environmental liability . our pui production facility in pasadena , texas is currently being dismantled , with completion expected in fiscal year 2014 . the costs to dismantle are expensed as incurred and reflected in continuing operations in the tonnage gases business segment . during the fourth quarter of 2012 , we completed an assessment of our position in the pv market , resulting in $ 186.0 of expense ( $ 127.0 after-tax , or $ .59 per share ) primarily related to the electronics and performance materials segment . air products supplies the pv market with both bulk and on-site supply of gases , including silane . the pv market has not developed as expected , and as a result , the market capacity to produce silane is expected to exceed demand for the foreseeable future . included in the charge was an accrual of $ 93.5 for an offer that we made to terminate a long-term take-or-pay contract to purchase silane . a final settlement was reached with the supplier in the fourth quarter of 2013. .
Question: considering the 2013 charge , what is the percentage of the asset actions on the total charge?
Answer: | 0.43351 |
FINQA3511 | Please answer the given financial question based on the context.
Context: 22 2016 annual report performance graph the following chart presents a comparison for the five-year period ended june 30 , 2016 , of the market performance of the company 2019s common stock with the s&p 500 index and an index of peer companies selected by the company : comparison of 5 year cumulative total return among jack henry & associates , inc. , the s&p 500 index , and a peer group the following information depicts a line graph with the following values: .
||2011|2012|2013|2014|2015|2016|
|jkhy|100.00|116.62|161.33|206.53|228.24|312.11|
|peer group|100.00|107.65|126.89|174.28|219.46|251.24|
|s&p 500|100.00|105.45|127.17|158.46|170.22|177.02|
this comparison assumes $ 100 was invested on june 30 , 2011 , and assumes reinvestments of dividends . total returns are calculated according to market capitalization of peer group members at the beginning of each period . peer companies selected are in the business of providing specialized computer software , hardware and related services to financial institutions and other businesses . companies in the peer group are aci worldwide , inc. , bottomline technology , inc. , broadridge financial solutions , cardtronics , inc. , convergys corp. , corelogic , inc. , dst systems , inc. , euronet worldwide , inc. , fair isaac corp. , fidelity national information services , inc. , fiserv , inc. , global payments , inc. , moneygram international , inc. , ss&c technologies holdings , inc. , total systems services , inc. , tyler technologies , inc. , verifone systems , inc. , and wex , inc. . heartland payment systems , inc . was removed from the peer group as it merged with global payments , inc . in april 2016. .
Question: what was the percentage performance growth in the 5 year cumulative total return of peer group from 2014 to 2016
Answer: | 0.25924 |
FINQA3512 | Please answer the given financial question based on the context.
Context: item 1b . unresolved staff comments item 2 . properties the table below provides a summary of our containerboard mills , the principal products produced and each mill 2019s year-end 2011 annual practical maximum capacity based upon all of our paper machines 2019 production capabilities , as reported to the af&pa : location function capacity ( tons ) counce , tn . . . . . . . . . . . . . . . . . . . . . . . . . kraft linerboard mill 1043000 valdosta , ga . . . . . . . . . . . . . . . . . . . . . . . kraft linerboard mill 556000 tomahawk , wi . . . . . . . . . . . . . . . . . . . . . . semi-chemical medium mill 538000 filer city , mi . . . . . . . . . . . . . . . . . . . . . . . semi-chemical medium mill 438000 .
|location|function kraft linerboard mill kraft linerboard mill semi-chemical medium mill semi-chemical medium mill|capacity ( tons ) 1043000 556000 538000 438000|
|counce tn|valdosta ga|tomahawk wi|
|filer city mi|filer city mi|filer city mi|
|total||2575000|
we currently own our four containerboard mills and 44 of our corrugated manufacturing operations ( 37 corrugated plants and seven sheet plants ) . we also own one warehouse and miscellaneous other property , which includes sales offices and woodlands management offices . these sales offices and woodlands management offices generally have one to four employees and serve as administrative offices . pca leases the space for four corrugated plants , 23 sheet plants , six regional design centers , and numerous other distribution centers , warehouses and facilities . the equipment in these leased facilities is , in virtually all cases , owned by pca , except for forklifts and other rolling stock which are generally leased . we lease the cutting rights to approximately 88000 acres of timberland located near our valdosta mill ( 77000 acres ) and our counce mill ( 11000 acres ) . on average , these cutting rights agreements have terms with approximately 12 years remaining . our corporate headquarters is located in lake forest , illinois . the headquarters facility is leased for the next ten years with provisions for two additional five year lease extensions . item 3 . legal proceedings during september and october 2010 , pca and eight other u.s . and canadian containerboard producers were named as defendants in five purported class action lawsuits filed in the united states district court for the northern district of illinois , alleging violations of the sherman act . the lawsuits have been consolidated in a single complaint under the caption kleen products llc v packaging corp . of america et al . the consolidated complaint alleges that the defendants conspired to limit the supply of containerboard , and that the purpose and effect of the alleged conspiracy was to artificially increase prices of containerboard products during the period from august 2005 to the time of filing of the complaints . the complaint was filed as a purported class action suit on behalf of all purchasers of containerboard products during such period . the complaint seeks treble damages and costs , including attorney 2019s fees . the defendants 2019 motions to dismiss the complaint were denied by the court in april 2011 . pca believes the allegations are without merit and will defend this lawsuit vigorously . however , as the lawsuit is in the early stages of discovery , pca is unable to predict the ultimate outcome or estimate a range of reasonably possible losses . pca is a party to various other legal actions arising in the ordinary course of our business . these legal actions cover a broad variety of claims spanning our entire business . as of the date of this filing , we believe it is not reasonably possible that the resolution of these legal actions will , individually or in the aggregate , have a material adverse effect on our financial condition , results of operations or cash flows. .
Question: for the leased cutting rights to approximately 88000 acres of timberland , is the valdosta mill acreage greater than the counce mill acres?
Answer: | yes |
FINQA3513 | Please answer the given financial question based on the context.
Context: - the increase in level 3 short-term borrowings and long-term debt of $ 2.8 billion and $ 7.3 billion , respectively , resulted from transfers in of level 2 positions as prices and other valuation inputs became unobservable , plus the additions of new issuances for fair value accounting was elected . items measured at fair value on a nonrecurring basis certain assets and liabilities are measured at fair value on a nonrecurring basis and therefore are not included in the tables above . these include assets measured at cost that have been written down to fair value during the periods as a result of an impairment . in addition , assets such as loans held for sale that are measured at the lower of cost or market ( locom ) that were recognized at fair value below cost at the end of the period . the company recorded goodwill impairment charges of $ 9.6 billion as of december 31 , 2008 , as determined based on level 3 inputs . the primary cause of goodwill impairment was the overall weak industry outlook and continuing operating losses . these factors contributed to the overall decline in the stock price and the related market capitalization of citigroup . see note 19 , 201cgoodwill and intangible assets 201d on page 166 , for additional information on goodwill impairment . the company performed an impairment analysis of intangible assets related to the old lane multi-strategy hedge fund during the first quarter of 2008 . as a result , a pre-tax write-down of $ 202 million , representing the remaining unamortized balance of the intangible assets , was recorded during the first quarter of 2008 . the measurement of fair value was determined using level 3 input factors along with a discounted cash flow approach . during the fourth quarter of 2008 , the company performed an impairment analysis of japan's nikko asset management fund contracts which represent the rights to manage and collect fees on investor assets and are accounted for as indefinite-lived intangible assets . as a result , an impairment loss of $ 937 million pre-tax was recorded . the related fair value was determined using an income approach which relies on key drivers and future expectations of the business that are considered level 3 input factors . the fair value of loans measured on a locom basis is determined where possible using quoted secondary-market prices . such loans are generally classified in level 2 of the fair-value hierarchy given the level of activity in the market and the frequency of available quotes . if no such quoted price exists , the fair value of a loan is determined using quoted prices for a similar asset or assets , adjusted for the specific attributes of that loan . the following table presents all loans held-for-sale that are carried at locom as of december 31 , 2008 and december 31 , 2007 ( in billions ) : .
||aggregate cost|fair value|level 2|level 3|
|december 31 2008|$ 3.1|$ 2.1|$ 0.8|$ 1.3|
|december 31 2007|33.6|31.9|5.1|26.8|
loans held-for-sale that are carried at locom as of december 31 , 2008 significantly declined compared to december 31 , 2007 because most of these loans were either sold or reclassified to held-for-investment category. .
Question: what was the change in billions of loans held-for-sale that are carried at locom in the level 3 category from 2007 to 2008?
Answer: | -25.5 |
FINQA3514 | Please answer the given financial question based on the context.
Context: our overall gross margin percentage decreased to 59.8% ( 59.8 % ) in 2013 from 62.1% ( 62.1 % ) in 2012 . the decrease in the gross margin percentage was primarily due to the gross margin percentage decrease in pccg . we derived most of our overall gross margin dollars in 2013 and 2012 from the sale of platforms in the pccg and dcg operating segments . our net revenue for 2012 , which included 52 weeks , decreased by $ 658 million , or 1% ( 1 % ) , compared to 2011 , which included 53 weeks . the pccg and dcg platform unit sales decreased 1% ( 1 % ) while average selling prices were unchanged . additionally , lower netbook platform unit sales and multi-comm average selling prices , primarily discrete modems , contributed to the decrease . these decreases were partially offset by our mcafee operating segment , which we acquired in the q1 2011 . mcafee contributed $ 469 million of additional revenue in 2012 compared to 2011 . our overall gross margin dollars for 2012 decreased by $ 606 million , or 2% ( 2 % ) , compared to 2011 . the decrease was due in large part to $ 494 million of excess capacity charges , as well as lower revenue from the pccg and dcg platform . to a lesser extent , approximately $ 390 million of higher unit costs on the pccg and dcg platform as well as lower netbook and multi-comm revenue contributed to the decrease . the decrease was partially offset by $ 643 million of lower factory start-up costs as we transition from our 22nm process technology to r&d of our next- generation 14nm process technology , as well as $ 422 million of charges recorded in 2011 to repair and replace materials and systems impacted by a design issue related to our intel ae 6 series express chipset family . the decrease was also partially offset by the two additional months of results from our acquisition of mcafee , which occurred on february 28 , 2011 , contributing approximately $ 334 million of additional gross margin dollars in 2012 compared to 2011 . the amortization of acquisition-related intangibles resulted in a $ 557 million reduction to our overall gross margin dollars in 2012 , compared to $ 482 million in 2011 , primarily due to acquisitions completed in q1 2011 . our overall gross margin percentage in 2012 was flat from 2011 as higher excess capacity charges and higher unit costs on the pccg and dcg platform were offset by lower factory start-up costs and no impact in 2012 for a design issue related to our intel 6 series express chipset family . we derived a substantial majority of our overall gross margin dollars in 2012 and 2011 from the sale of platforms in the pccg and dcg operating segments . pc client group the revenue and operating income for the pccg operating segment for each period were as follows: .
|( in millions )|2013|2012|2011|
|net revenue|$ 33039|$ 34504|$ 35624|
|operating income|$ 11827|$ 13106|$ 14840|
net revenue for the pccg operating segment decreased by $ 1.5 billion , or 4% ( 4 % ) , in 2013 compared to 2012 . pccg platform unit sales were down 3% ( 3 % ) primarily on softness in traditional pc demand during the first nine months of the year . the decrease in revenue was driven by lower notebook and desktop platform unit sales which were down 4% ( 4 % ) and 2% ( 2 % ) , respectively . pccg platform average selling prices were flat , with 6% ( 6 % ) higher desktop platform average selling prices offset by 4% ( 4 % ) lower notebook platform average selling prices . operating income decreased by $ 1.3 billion , or 10% ( 10 % ) , in 2013 compared to 2012 , which was driven by $ 1.5 billion of lower gross margin , partially offset by $ 200 million of lower operating expenses . the decrease in gross margin was driven by $ 1.5 billion of higher factory start-up costs primarily on our next-generation 14nm process technology as well as lower pccg platform revenue . these decreases were partially offset by approximately $ 520 million of lower pccg platform unit costs , $ 260 million of lower excess capacity charges , and higher sell-through of previously non- qualified units . net revenue for the pccg operating segment decreased by $ 1.1 billion , or 3% ( 3 % ) , in 2012 compared to 2011 . pccg revenue was negatively impacted by the growth of tablets as these devices compete with pcs for consumer sales . platform average selling prices and unit sales decreased 2% ( 2 % ) and 1% ( 1 % ) , respectively . the decrease was driven by 6% ( 6 % ) lower notebook platform average selling prices and 5% ( 5 % ) lower desktop platform unit sales . these decreases were partially offset by a 4% ( 4 % ) increase in desktop platform average selling prices and a 2% ( 2 % ) increase in notebook platform unit sales . table of contents management 2019s discussion and analysis of financial condition and results of operations ( continued ) .
Question: what was the operating margin for the pc client group in 2012?
Answer: | 0.37984 |
FINQA3515 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2014 ( continued ) merchant acquiring business in the united kingdom to the partnership . in addition , hsbc uk entered into a ten-year marketing alliance with the partnership in which hsbc uk will refer customers to the partnership for payment processing services in the united kingdom . on june 23 , 2008 , we entered into a new five year , $ 200 million term loan to fund a portion of the acquisition . we funded the remaining purchase price with excess cash and our existing credit facilities . the term loan bears interest , at our election , at the prime rate or london interbank offered rate plus a margin based on our leverage position . as of july 1 , 2008 , the interest rate on the term loan was 3.605% ( 3.605 % ) . the term loan calls for quarterly principal payments of $ 5 million beginning with the quarter ending august 31 , 2008 and increasing to $ 10 million beginning with the quarter ending august 31 , 2010 and $ 15 million beginning with the quarter ending august 31 , 2011 . the partnership agreement includes provisions pursuant to which hsbc uk may compel us to purchase , at fair value , additional membership units from hsbc uk ( the 201cput option 201d ) . hsbc uk may exercise the put option on the fifth anniversary of the closing of the acquisition and on each anniversary thereafter . by exercising the put option , hsbc uk can require us to purchase , on an annual basis , up to 15% ( 15 % ) of the total membership units . additionally , on the tenth anniversary of closing and each tenth anniversary thereafter , hsbc uk may compel us to purchase all of their membership units at fair value . while not redeemable until june 2013 , we estimate the maximum total redemption amount of the minority interest under the put option would be $ 421.4 million , as of may 31 , 2008 . the purpose of this acquisition was to establish a presence in the united kingdom . the key factors that contributed to the decision to make this acquisition include historical and prospective financial statement analysis and hsbc uk 2019s market share and retail presence in the united kingdom . the purchase price was determined by analyzing the historical and prospective financial statements and applying relevant purchase price multiples . the purchase price totaled $ 441.1 million , consisting of $ 438.6 million cash consideration plus $ 2.5 million of direct out of pocket costs . the acquisition has been recorded using the purchase method of accounting , and , accordingly , the purchase price has been allocated to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition . the following table summarizes the preliminary purchase price allocation: .
||total|
|goodwill|$ 294741|
|customer-related intangible assets|116920|
|contract-based intangible assets|13437|
|trademark|2204|
|property and equipment|26955|
|other current assets|100|
|total assets acquired|454357|
|minority interest in equity of subsidiary ( at historical cost )|-13257 ( 13257 )|
|net assets acquired|$ 441100|
due to the recent timing of the transaction , the allocation of the purchase price is preliminary . all of the goodwill associated with the acquisition is expected to be deductible for tax purposes . the customer-related intangible assets have amortization periods of up to 13 years . the contract-based intangible assets have amortization periods of 7 years . the trademark has an amortization period of 5 years. .
Question: what is the interest expense of the loan for the first quarter?
Answer: | 1.8025 |
FINQA3516 | Please answer the given financial question based on the context.
Context: performance graph this graph compares the return on lilly stock with that of the standard & poor 2019s 500 stock index and our peer group for the years 2014 through 2018 . the graph assumes that , on december 31 , 2013 , a person invested $ 100 each in lilly stock , the s&p 500 stock index , and the peer groups' common stock . the graph measures total shareholder return , which takes into account both stock price and dividends . it assumes that dividends paid by a company are reinvested in that company 2019s stock . value of $ 100 invested on last business day of 2013 comparison of five-year cumulative total return among lilly , s&p 500 stock index , peer group ( 1 ) .
||lilly|peer group|s&p 500|
|dec-13|$ 100.00|$ 100.00|$ 100.00|
|dec-14|$ 139.75|$ 114.39|$ 113.69|
|dec-15|$ 175.21|$ 116.56|$ 115.26|
|dec-16|$ 157.03|$ 112.80|$ 129.05|
|dec-17|$ 185.04|$ 128.90|$ 157.22|
|dec-18|$ 259.88|$ 136.56|$ 150.33|
( 1 ) we constructed the peer group as the industry index for this graph . it comprises the companies in the pharmaceutical and biotech industries that we used to benchmark the compensation of our executive officers for 2018 : abbvie inc. ; amgen inc. ; astrazeneca plc ; baxter international inc. ; biogen idec inc. ; bristol-myers squibb company ; celgene corporation ; gilead sciences inc. ; glaxosmithkline plc ; johnson & johnson ; medtronic plc ; merck & co. , inc. ; novartis ag. ; pfizer inc. ; roche holdings ag ; sanofi ; and shire plc. .
Question: what was the difference in percentage return for lilly compared to the s&p 500 for the five years ended dec-18?
Answer: | 1.0955 |
FINQA3517 | Please answer the given financial question based on the context.
Context: l iquidity and capital resources we have historically generated positive cash flow from operations and have generally used funds generated from operations and short-term borrowings on our revolving credit facility to meet capital requirements . we expect this trend to continue in the future . the company's cash and cash equivalents decreased to $ 65565 at june 30 , 2008 from $ 88617 at june 30 , 2007 . the following table summarizes net cash from operating activities in the statement of cash flows : year ended june 30 cash provided by operations increased $ 6754 to $ 181001 for the fiscal year ended june 30 , 2008 as compared to $ 174247 for the fiscal year ended june 30 , 2007 . this increase is primarily attributable to an increase in expenses that do not have a corresponding cash outflow , such as depreciation and amortization , as a percentage of total net income . cash used in investing activities for the fiscal year ended june 2008 was $ 102148 and includes payments for acquisitions of $ 48109 , plus $ 1215 in contingent consideration paid on prior years 2019 acquisitions . during fiscal 2007 , payments for acquisitions totaled $ 34006 , plus $ 5301 paid on earn-outs and other acquisition adjustments . capital expenditures for fiscal 2008 were $ 31105 compared to $ 34202 for fiscal 2007 . cash used for software development in fiscal 2008 was $ 23736 compared to $ 20743 during the prior year . net cash used in financing activities for the current fiscal year was $ 101905 and includes the repurchase of 4200 shares of our common stock for $ 100996 , the payment of dividends of $ 24683 and $ 429 net repayment on our revolving credit facilities . cash used in financing activities was partially offset by proceeds of $ 20394 from the exercise of stock options and the sale of common stock and $ 3809 excess tax benefits from stock option exercises . during fiscal 2007 , net cash used in financing activities included the repurchase of our common stock for $ 98413 and the payment of dividends of $ 21685 . as in the current year , cash used in fiscal 2007 was partially offset by proceeds from the exercise of stock options and the sale of common stock of $ 29212 , $ 4640 excess tax benefits from stock option exercises and $ 19388 net borrowings on revolving credit facilities . at june 30 , 2008 , the company had negative working capital of $ 11418 ; however , the largest component of current liabilities was deferred revenue of $ 212375 . the cash outlay necessary to provide the services related to these deferred revenues is significantly less than this recorded balance . therefore , we do not anticipate any liquidity problems to result from this condition . u.s . financial markets and many of the largest u.s . financial institutions have recently been shaken by negative developments in the home mortgage industry and the mortgage markets , and particularly the markets for subprime mortgage-backed securities . while we believe it is too early to predict what effect , if any , these developments may have , we have not experienced any significant issues with our current collec- tion efforts , and we believe that any future impact to our liquidity would be minimized by our access to available lines of credit . 2008 2007 2006 .
|2007|year ended june 30 2008 2007|year ended june 30 2008 2007|year ended june 30 2008|
|net income|$ 104222|$ 104681|$ 89923|
|non-cash expenses|70420|56348|52788|
|change in receivables|-2913 ( 2913 )|-28853 ( 28853 )|30413|
|change in deferred revenue|5100|24576|10561|
|change in other assets and liabilities|4172|17495|-14247 ( 14247 )|
|net cash from operating activities|$ 181001|$ 174247|$ 169438|
.
Question: during fiscal 2007 , was the net cash used in financing activities included the repurchase of our common stock greater than cash for payment of dividends?
Answer: | yes |
FINQA3518 | Please answer the given financial question based on the context.
Context: note 6 2014mergers and acquisitions eldertrust merger on february 5 , 2004 , the company consummated a merger transaction in an all cash transaction valued at $ 184 million ( the 201celdertrust transaction 201d ) . the eldertrust transaction adds nine assisted living facilities , one independent living facility , five skilled nursing facilities , two med- ical office buildings and a financial office building ( the 201celdertrust properties 201d ) to the company 2019s portfolio.the eldertrust properties are leased by the company to various operators under leases providing for aggregated , annual cash base rent of approxi- mately $ 16.2 million , subject to escalation as provided in the leases.the leases have remaining terms primarily ranging from four to 11 years.at the closing of the eldertrust transaction , the company also acquired all of the limited partnership units in eldertrust operating limited partnership ( 201cetop 201d ) directly from their owners at $ 12.50 per unit , excluding 31455 class c units in etop ( which will remain outstanding ) . etop owns directly or indirectly all of the eldertrust properties . the company funded the $ 101 million equity portion of the purchase price with cash on eldertrust 2019s balance sheet , a portion of the $ 85 million in proceeds from its december 2003 sale of ten facilities to kindred and draws on the company 2019s revolving credit facility ( the 201crevolving credit facility 201d ) under its second amended and restated security and guaranty agreement , dated as of april 17 , 2002 ( the 201c2002 credit agreement 201d ) .the company 2019s ownership of the eldertrust properties is subject to approximately $ 83 million of property level debt and other liabilities.at the close of the eldertrust transaction , eldertrust had approximately $ 33.5 million in unrestricted and restricted cash on hand . the acquisition was accounted for under the purchase method . the following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of acquisition . such estimates are subject to refinement as additional valuation information is received . operations from this merger will be reflected in the company 2019s consolidated financial state- ments for periods subsequent to the acquisition date of february 5 , 2004.the company is in the process of computing fair values , thus , the allocation of the purchase price is subject to refinement. .
||( in millions )|
|real estate investments|$ 162|
|cash and cash equivalents|28|
|other assets|5|
|total assets acquired|$ 195|
|notes payable and other debt|83|
|accounts payable and other accrued liabilities|2|
|total liabilities assumed|85|
|net assets acquired|$ 110|
transaction with brookdale on january 29 , 2004 , the company entered into 14 definitive purchase agreements ( each , a 201cbrookdale purchase agreement 201d ) with certain affiliates of brookdale living communities , inc . ( 201cbrookdale 201d ) to purchase ( each such purchase , a 201cbrookdale acquisition 201d ) a total of 14 independent living or assisted living facilities ( each , a 201cbrookdale facility 201d ) for an aggregate purchase price of $ 115 million.affiliates of brookdale have agreed to lease and operate the brookdale facilities pursuant to one or more triple-net leases.all of the brookdale leases , which have an initial term of 15 years , will be guaranteed by brookdale and provide for aggregated annual base rent of approximately $ 10 million , escalating each year by the greater of ( i ) 1.5% ( 1.5 % ) or ( ii ) 75% ( 75 % ) of the consumer price index . the company expects to fund the brookdale acquisitions by assuming an aggregate of approximately $ 41 million of non- recourse property level debt on certain of the brookdale facilities , with the balance to be paid from cash on hand and/or draws on the revolving credit facility.the property level debt encumbers seven of the brookdale facilities . on january 29 , 2004 , the company completed the acquisitions of four brookdale facilities for an aggregate purchase price of $ 37 million.the company 2019s acquisition of the remaining ten brookdale facilities is expected to be completed shortly , subject to customary closing conditions . however , the consummation of each such brookdale acquisition is not conditioned upon the consummation of any other such brookdale acquisition and there can be no assurance which , if any , of such remaining brookdale acquisitions will be consummated or when they will be consummated . transactions with trans healthcare , inc . on november 4 , 2002 , the company , through its wholly owned subsidiary ventas realty , completed a $ 120.0 million transaction ( the 201cthi transaction 201d ) with trans healthcare , inc. , a privately owned long-term care and hospital company ( 201cthi 201d ) .the thi transaction was structured as a $ 53.0 million sale leaseback trans- action ( the 201cthi sale leaseback 201d ) and a $ 67.0 million loan ( the 201cthi loan 201d ) , comprised of a first mortgage loan ( the 201cthi senior loan 201d ) and a mezzanine loan ( the 201cthi mezzanine loan 201d ) . following a sale of the thi senior loan in december 2002 ( see below ) , the company 2019s investment in thi was $ 70.0 million . as part of the thi sale leasebackventas realty purchased 5 properties and is leasing them back to thi under a 201ctriple-net 201d master lease ( the 201cthi master lease 201d ) .the properties subject to the sale leaseback are four skilled nursing facilities and one con- tinuing care retirement community.the thi master lease , which has an initial term of ten years , provides for annual base rent of $ 5.9 million.the thi master lease provides that if thi meets specified revenue parameters , annual base rent will escalate each year by the greater of ( i ) three percent or ( ii ) 50% ( 50 % ) of the consumer price index . ventas , inc . page 37 annual report 2003 .
Question: what percentage of total assets acquired were real estate investments?
Answer: | 0.83077 |
FINQA3519 | Please answer the given financial question based on the context.
Context: the new york stock exchange ( the 201cseparation 201d ) . the separation was effectuated through a pro-rata dividend distribution on july 2 , 2016 of all of the then-outstanding shares of common stock of fortive corporation to the holders of common stock of danaher as of june 15 , 2016 . in this annual report , the terms 201cfortive 201d or the 201ccompany 201d refer to either fortive corporation or to fortive corporation and its consolidated subsidiaries , as the context requires . reportable segments the table below describes the percentage of sales attributable to each of our two segments over each of the last three years ended december 31 , 2017 . for additional information regarding sales , operating profit and identifiable assets by segment , please refer to note 17 to the consolidated and combined financial statements included in this annual report. .
||2017|2016|2015|
|professional instrumentation|47% ( 47 % )|46% ( 46 % )|48% ( 48 % )|
|industrial technologies|53% ( 53 % )|54% ( 54 % )|52% ( 52 % )|
professional instrumentation our professional instrumentation segment offers essential products , software and services used to create actionable intelligence by measuring and monitoring a wide range of physical parameters in industrial applications , including electrical current , radio frequency signals , distance , pressure , temperature , radiation , and hazardous gases . customers for these products and services include industrial service , installation and maintenance professionals , designers and manufacturers of electronic devices and instruments , medical technicians , safety professionals and other customers for whom precision , reliability and safety are critical in their specific applications . 2017 sales for this segment by geographic destination were : north america , 50% ( 50 % ) ; europe , 18% ( 18 % ) ; asia pacific , 26% ( 26 % ) , and all other regions , 6% ( 6 % ) . our professional instrumentation segment consists of our advanced instrumentation & solutions and sensing technologies businesses . our advanced instrumentation & solutions business was primarily established through the acquisitions of qualitrol in the 1980s , fluke corporation in 1998 , pacific scientific company in 1998 , tektronix in 2007 , invetech in 2007 , keithley instruments in 2010 , emaint in 2016 , industrial scientific in 2017 , landauer in 2017 and numerous bolt-on acquisitions . advanced instrumentation & solutions our advanced instrumentation & solutions business consists of : field solutions our field solutions products include a variety of compact professional test tools , thermal imaging and calibration equipment for electrical , industrial , electronic and calibration applications , online condition-based monitoring equipment ; portable gas detection equipment , consumables , and software as a service ( saas ) offerings including safety/user behavior , asset management , and compliance monitoring ; subscription-based technical , analytical , and compliance services to determine occupational and environmental radiation exposure ; and computerized maintenance management software for critical infrastructure in utility , industrial , energy , construction , public safety , mining , and healthcare applications . these products and associated software solutions measure voltage , current , resistance , power quality , frequency , pressure , temperature , radiation , hazardous gas and air quality , among other parameters . typical users of these products and software include electrical engineers , electricians , electronic technicians , safety professionals , medical technicians , network technicians , first-responders , and industrial service , installation and maintenance professionals . the business also makes and sells instruments , controls and monitoring and maintenance systems used by maintenance departments in utilities and industrial facilities to monitor assets , including transformers , generators , motors and switchgear . products are marketed under a variety of brands , including fluke , fluke biomedical , fluke networks , industrial scientific , landauer and qualitrol . product realization our product realization services and products help developers and engineers across the end-to-end product creation cycle from concepts to finished products . our test , measurement and monitoring products are used in the design , manufacturing and development of electronics , industrial , video and other advanced technologies . typical users of these products and services include research and development engineers who design , de-bug , monitor and validate the function and performance of electronic components , subassemblies and end-products , and video equipment manufacturers , content developers and broadcasters . the business also provides a full range of design , engineering and manufacturing services and highly-engineered , modular components to enable conceptualization , development and launch of products in the medical diagnostics , cell therapy and consumer markets . finally , the business designs , develops , manufactures and markets critical , highly-engineered energetic materials components in specialized vertical applications . products and services are marketed .
Question: what was the change in percentage of sales attributable to industrial technologies from 2016 to 2017?
Answer: | -0.01 |
FINQA3520 | Please answer the given financial question based on the context.
Context: company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s . technology index . the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s . technology index on september 30 , 2006 . data points on the graph are annual . note that historic stock price performance is not necessarily indicative of future stock price performance . comparison of 5 year cumulative total return* among apple inc. , the s&p 500 index , the s&p computer hardware index and the dow jones us technology index sep-10sep-09sep-08sep-07sep-06 sep-11 apple inc . s&p 500 s&p computer hardware dow jones us technology *$ 100 invested on 9/30/06 in stock or index , including reinvestment of dividends . fiscal year ending september 30 . copyright a9 2011 s&p , a division of the mcgraw-hill companies inc . all rights reserved . copyright a9 2011 dow jones & co . all rights reserved . september 30 , september 30 , september 30 , september 30 , september 30 , september 30 .
||september 30 2006|september 30 2007|september 30 2008|september 30 2009|september 30 2010|september 30 2011|
|apple inc .|$ 100|$ 199|$ 148|$ 241|$ 369|$ 495|
|s&p 500|$ 100|$ 116|$ 91|$ 85|$ 93|$ 94|
|s&p computer hardware|$ 100|$ 148|$ 124|$ 147|$ 174|$ 197|
|dow jones us technology|$ 100|$ 123|$ 94|$ 104|$ 117|$ 120|
.
Question: what was the cumulative percentage return for the four years ended september 30 , 2010 for apple inc.?
Answer: | 2.69 |
FINQA3521 | Please answer the given financial question based on the context.
Context: table of contents recoverability of goodwill is measured at the reporting unit level and begins with a qualitative assessment to determine if it is more likely than not that the fair value of each reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test prescribed by gaap . for those reporting units where it is required , the first step compares the carrying amount of the reporting unit to its estimated fair value . if the estimated fair value of a reporting unit exceeds its carrying amount , goodwill of the reporting unit is not impaired and the second step of the impairment test is not necessary . to the extent that the carrying value of the reporting unit exceeds its estimated fair value , a second step is performed , wherein the reporting unit's carrying value of goodwill is compared to the implied fair value of goodwill . to the extent that the carrying value exceeds the implied fair value , impairment exists and must be recognized . the calculation of estimated fair value is based on two valuation techniques , a discounted cash flow model ( income approach ) and a market adjusted multiple of earnings and revenues ( market approach ) , with each method being weighted in the calculation . the implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination . the estimated fair value of the reporting unit is allocated to all of the assets and liabilities of the reporting unit ( including any unrecognized intangible assets ) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit , as determined in the first step of the goodwill impairment test , was the price paid to acquire that reporting unit . recoverability of other intangible assets with indefinite useful lives ( i.e . trademarks ) is determined on a relief from royalty methodology ( income approach ) , which is based on the implied royalty paid , at an appropriate discount rate , to license the use of an asset rather than owning the asset . the present value of the after-tax cost savings ( i.e . royalty relief ) indicates the estimated fair value of the asset . any excess of the carrying value over the estimated fair value is recognized as an impairment loss equal to that excess . intangible assets such as patents , customer-related intangible assets and other intangible assets with finite useful lives are amortized on a straight-line basis over their estimated economic lives . the weighted-average useful lives approximate the following: .
|customer relationships|25|years|
|trademarks|25|years|
|completed technology/patents|10|years|
|other|25|years|
recoverability of intangible assets with finite useful lives is assessed in the same manner as property , plant and equipment as described above . income taxes : for purposes of the company 2019s consolidated financial statements for periods prior to the spin-off , income tax expense has been recorded as if the company filed tax returns on a stand-alone basis separate from ingersoll rand . this separate return methodology applies the accounting guidance for income taxes to the stand-alone financial statements as if the company was a stand-alone enterprise for the periods prior to the spin-off . therefore , cash tax payments and items of current and deferred taxes may not be reflective of the company 2019s actual tax balances prior to or subsequent to the spin-off . cash paid for income taxes for the year ended december 31 , 2015 was $ 80.6 million . the income tax accounts reflected in the consolidated balance sheets as of december 31 , 2015 and 2014 include income taxes payable and deferred taxes allocated to the company at the time of the spin-off . the calculation of the company 2019s income taxes involves considerable judgment and the use of both estimates and allocations . deferred tax assets and liabilities are determined based on temporary differences between financial reporting and tax bases of assets and liabilities , applying enacted tax rates expected to be in effect for the year in which the differences are expected to reverse . the company recognizes future tax benefits , such as net operating losses and tax credits , to the extent that realizing these benefits is considered in its judgment to be more likely than not . the company regularly reviews the recoverability of its deferred tax assets considering its historic profitability , projected future taxable income , timing of the reversals of existing temporary differences and the feasibility of its tax planning strategies . where appropriate , the company records a valuation allowance with respect to a future tax benefit . product warranties : standard product warranty accruals are recorded at the time of sale and are estimated based upon product warranty terms and historical experience . the company assesses the adequacy of its liabilities and will make adjustments as necessary based on known or anticipated warranty claims , or as new information becomes available. .
Question: what is the difference between the weighted average useful lives of trademarks and patents , in number of years?\\n
Answer: | 15.0 |
FINQA3522 | Please answer the given financial question based on the context.
Context: the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline and regional operations for 2018 , 2017 and 2016 ( gallons and aircraft fuel expense in millions ) . year gallons average price per gallon aircraft fuel expense percent of total operating expenses .
|year|gallons|average priceper gallon|aircraft fuelexpense|percent of totaloperating expenses|
|2018|4447|$ 2.23|$ 9896|23.6% ( 23.6 % )|
|2017|4352|1.73|7510|19.6% ( 19.6 % )|
|2016|4347|1.42|6180|17.6% ( 17.6 % )|
as of december 31 , 2018 , we did not have any fuel hedging contracts outstanding to hedge our fuel consumption . as such , and assuming we do not enter into any future transactions to hedge our fuel consumption , we will continue to be fully exposed to fluctuations in fuel prices . our current policy is not to enter into transactions to hedge our fuel consumption , although we review that policy from time to time based on market conditions and other factors . fuel prices have fluctuated substantially over the past several years . we cannot predict the future availability , price volatility or cost of aircraft fuel . natural disasters ( including hurricanes or similar events in the u.s . southeast and on the gulf coast where a significant portion of domestic refining capacity is located ) , political disruptions or wars involving oil-producing countries , economic sanctions imposed against oil-producing countries or specific industry participants , changes in fuel-related governmental policy , the strength of the u.s . dollar against foreign currencies , changes in the cost to transport or store petroleum products , changes in access to petroleum product pipelines and terminals , speculation in the energy futures markets , changes in aircraft fuel production capacity , environmental concerns and other unpredictable events may result in fuel supply shortages , distribution challenges , additional fuel price volatility and cost increases in the future . see part i , item 1a . risk factors 2013 201cour business is very dependent on the price and availability of aircraft fuel . continued periods of high volatility in fuel costs , increased fuel prices or significant disruptions in the supply of aircraft fuel could have a significant negative impact on our operating results and liquidity . 201d seasonality and other factors due to the greater demand for air travel during the summer months , revenues in the airline industry in the second and third quarters of the year tend to be greater than revenues in the first and fourth quarters of the year . general economic conditions , fears of terrorism or war , fare initiatives , fluctuations in fuel prices , labor actions , weather , natural disasters , outbreaks of disease and other factors could impact this seasonal pattern . therefore , our quarterly results of operations are not necessarily indicative of operating results for the entire year , and historical operating results in a quarterly or annual period are not necessarily indicative of future operating results . domestic and global regulatory landscape general airlines are subject to extensive domestic and international regulatory requirements . domestically , the dot and the federal aviation administration ( faa ) exercise significant regulatory authority over air carriers . the dot , among other things , oversees domestic and international codeshare agreements , international route authorities , competition and consumer protection matters such as advertising , denied boarding compensation and baggage liability . the antitrust division of the department of justice ( doj ) , along with the dot in certain instances , have jurisdiction over airline antitrust matters. .
Question: what was the total aircraft fuel expense from 2016 to 2018 in millions
Answer: | 23586.0 |
FINQA3523 | Please answer the given financial question based on the context.
Context: adobe systems incorporated notes to consolidated financial statements ( continued ) accounting for uncertainty in income taxes during fiscal 2014 and 2013 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : .
||2014|2013|
|beginning balance|$ 136098|$ 160468|
|gross increases in unrecognized tax benefits 2013 prior year tax positions|144|20244|
|gross increases in unrecognized tax benefits 2013 current year tax positions|18877|16777|
|settlements with taxing authorities|-995 ( 995 )|-55851 ( 55851 )|
|lapse of statute of limitations|-1630 ( 1630 )|-4066 ( 4066 )|
|foreign exchange gains and losses|-3646 ( 3646 )|-1474 ( 1474 )|
|ending balance|$ 148848|$ 136098|
as of november 28 , 2014 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 14.6 million . we file income tax returns in the u.s . on a federal basis and in many u.s . state and foreign jurisdictions . we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities . our major tax jurisdictions are ireland , california and the u.s . for ireland , california and the u.s. , the earliest fiscal years open for examination are 2008 , 2008 and 2010 , respectively . we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examinations . we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position . in july 2013 , a u.s . income tax examination covering fiscal 2008 and 2009 was completed . our accrued tax and interest related to these years was $ 48.4 million and was previously reported in long-term income taxes payable . we settled the tax obligation resulting from this examination with cash and income tax assets totaling $ 41.2 million , and the resulting $ 7.2 million income tax benefit was recorded in the third quarter of fiscal 2013 . the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process . these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities . we believe that within the next 12 months , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both . given the uncertainties described above , we can only determine a range of estimated potential decreases in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 5 million . note 10 . restructuring fiscal 2014 restructuring plan in the fourth quarter of fiscal 2014 , in order to better align our global resources for digital media and digital marketing , we initiated a restructuring plan to vacate our research and development facility in china and our sales and marketing facility in russia . this plan consisted of reductions of approximately 350 full-time positions and we recorded restructuring charges of approximately $ 18.8 million related to ongoing termination benefits for the positions eliminated . during fiscal 2015 , we intend to vacate both of these facilities . the amount accrued for the fair value of future contractual obligations under these operating leases was insignificant . other restructuring plans during the past several years , we have implemented other restructuring plans consisting of reductions in workforce and the consolidation of facilities to better align our resources around our business strategies . as of november 28 , 2014 , we considered our other restructuring plans to be substantially complete . we continue to make cash outlays to settle obligations under these plans , however the current impact to our consolidated financial statements is not significant. .
Question: for the july 2013 settled tax obligation resulting from the examination , what percent was recorded in the third quarter of fiscal 2013?
Answer: | 0.17476 |
FINQA3524 | Please answer the given financial question based on the context.
Context: nuclear decommissioning costs see 201cnuclear decommissioning costs 201d in the 201ccritical accounting estimates 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for discussion of the estimates inherent in accounting for nuclear decommissioning costs . utility regulatory accounting see 201cutility regulatory accounting 201d in the 201ccritical accounting estimates 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for discussion of accounting for the effects of rate regulation . unbilled revenue see 201cunbilled revenue 201d in the 201ccritical accounting estimates 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for discussion of the estimates associated with the unbilled revenue amounts . impairment of long-lived assets and trust fund investments see 201cimpairment of long-lived assets and trust fund investments 201d in the 201ccritical accounting estimates 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for discussion of the estimates associated with the impairment of long-lived assets and trust fund investments . taxation and uncertain tax positions see 201ctaxation and uncertain tax positions 201d in the 201ccritical accounting estimates 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for further discussion . qualified pension and other postretirement benefits entergy arkansas 2019s qualified pension and other postretirement reported costs , as described in note 11 to the financial statements , are impacted by numerous factors including the provisions of the plans , changing employee demographics , and various actuarial calculations , assumptions , and accounting mechanisms . a0 a0 a0see the 201cqualified pension and other postretirement benefits 201d in the 201ccritical accounting estimates 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for further discussion . a0 a0because of the complexity of these calculations , the long-term nature of these obligations , and the importance of the assumptions utilized , entergy 2019s estimate of these costs is a critical accounting estimate . costs and sensitivities the following chart reflects the sensitivity of qualified pension cost and qualified projected benefit obligation to changes in certain actuarial assumptions ( dollars in thousands ) . actuarial assumption change in assumption impact on 2018 qualified pension cost impact on 2017 qualified projected benefit obligation increase/ ( decrease ) .
|actuarial assumption|change in assumption|impact on 2018 qualified pension cost increase/ ( decrease )|impact on 2017 qualified projected benefit obligation|
|discount rate|( 0.25% ( 0.25 % ) )|$ 3107|$ 47040|
|rate of return on plan assets|( 0.25% ( 0.25 % ) )|$ 2914|$ -|
|rate of increase in compensation|0.25% ( 0.25 % )|$ 1353|$ 6446|
entergy arkansas , inc . and subsidiaries management 2019s financial discussion and analysis .
Question: what was the ratio of the discount rate on the impact on 2017 qualified projected benefit obligation to the impact on 2018 qualified pension cost increase
Answer: | 15.14001 |
FINQA3525 | Please answer the given financial question based on the context.
Context: marketing we are a supplier of gasoline and distillates to resellers and consumers within our market area in the midwest , upper great plains , gulf coast and southeastern regions of the united states . in 2007 , our refined products sales volumes totaled 21.6 billion gallons , or 1.410 mmbpd . the average sales price of our refined products in aggregate was $ 86.53 per barrel for 2007 . the following table sets forth our refined products sales by product group and our average sales price for each of the last three years . refined product sales ( thousands of barrels per day ) 2007 2006 2005 .
|( thousands of barrels per day )|2007|2006|2005|
|gasoline|791|804|836|
|distillates|377|375|385|
|propane|23|23|22|
|feedstocks and special products|103|106|96|
|heavy fuel oil|29|26|29|
|asphalt|87|91|87|
|total ( a )|1410|1425|1455|
|average sales price ( dollars per barrel )|$ 86.53|$ 77.76|$ 66.42|
total ( a ) 1410 1425 1455 average sales price ( dollars per barrel ) $ 86.53 $ 77.76 $ 66.42 ( a ) includes matching buy/sell volumes of 24 mbpd and 77 mbpd in 2006 and 2005 . on april 1 , 2006 , we changed our accounting for matching buy/sell arrangements as a result of a new accounting standard . this change resulted in lower refined products sales volumes for 2007 and the remainder of 2006 than would have been reported under our previous accounting practices . see note 2 to the consolidated financial statements . the wholesale distribution of petroleum products to private brand marketers and to large commercial and industrial consumers and sales in the spot market accounted for 69 percent of our refined products sales volumes in 2007 . we sold 49 percent of our gasoline volumes and 89 percent of our distillates volumes on a wholesale or spot market basis . half of our propane is sold into the home heating market , with the balance being purchased by industrial consumers . propylene , cumene , aromatics , aliphatics and sulfur are domestically marketed to customers in the chemical industry . base lube oils , maleic anhydride , slack wax , extract and pitch are sold throughout the united states and canada , with pitch products also being exported worldwide . we market asphalt through owned and leased terminals throughout the midwest , upper great plains , gulf coast and southeastern regions of the united states . our customer base includes approximately 750 asphalt-paving contractors , government entities ( states , counties , cities and townships ) and asphalt roofing shingle manufacturers . we have blended ethanol with gasoline for over 15 years and increased our blending program in 2007 , in part due to renewable fuel mandates . we blended 41 mbpd of ethanol into gasoline in 2007 and 35 mbpd in both 2006 and 2005 . the future expansion or contraction of our ethanol blending program will be driven by the economics of the ethanol supply and changes in government regulations . we sell reformulated gasoline in parts of our marketing territory , primarily chicago , illinois ; louisville , kentucky ; northern kentucky ; milwaukee , wisconsin and hartford , illinois , and we sell low-vapor-pressure gasoline in nine states . we also sell biodiesel in minnesota , illinois and kentucky . as of december 31 , 2007 , we supplied petroleum products to about 4400 marathon branded-retail outlets located primarily in ohio , michigan , indiana , kentucky and illinois . branded retail outlets are also located in georgia , florida , minnesota , wisconsin , north carolina , tennessee , west virginia , virginia , south carolina , alabama , pennsylvania , and texas . sales to marathon-brand jobbers and dealers accounted for 16 percent of our refined product sales volumes in 2007 . speedway superamerica llc ( 201cssa 201d ) , our wholly-owned subsidiary , sells gasoline and diesel fuel primarily through retail outlets that we operate . sales of refined products through these ssa retail outlets accounted for 15 percent of our refined products sales volumes in 2007 . as of december 31 , 2007 , ssa had 1636 retail outlets in nine states that sold petroleum products and convenience store merchandise and services , primarily under the brand names 201cspeedway 201d and 201csuperamerica . 201d ssa 2019s revenues from the sale of non-petroleum merchandise totaled $ 2.796 billion in 2007 , compared with $ 2.706 billion in 2006 . profit levels from the sale of such merchandise and services tend to be less volatile than profit levels from the retail sale of gasoline and diesel fuel . ssa also operates 59 valvoline instant oil change retail outlets located in michigan and northwest ohio . pilot travel centers llc ( 201cptc 201d ) , our joint venture with pilot corporation ( 201cpilot 201d ) , is the largest operator of travel centers in the united states with 286 locations in 37 states and canada at december 31 , 2007 . the travel centers offer diesel fuel , gasoline and a variety of other services , including on-premises brand-name restaurants at many locations . pilot and marathon each own a 50 percent interest in ptc. .
Question: based on the average sales price listed above , what was the refined product sales total for 2007?
Answer: | 122007.3 |
FINQA3526 | Please answer the given financial question based on the context.
Context: 2022 higher 2017 sales volumes , incremental year-over-year cost savings associated with restructuring and productivity improvement initiatives , costs associated with various growth investments made in 2016 and changes in currency exchange rates , partially offset by incremental year-over-year costs associated with various product development and sales and marketing growth investments : 60 basis points year-over-year operating profit margin comparisons were unfavorably impacted by : 2022 the incremental year-over-year net dilutive effect of acquired businesses : 20 basis points 2016 compared to 2015 year-over-year price increases in the segment contributed 0.3% ( 0.3 % ) to sales growth during 2016 as compared to 2015 and are reflected as a component of the change in sales from existing businesses . sales from existing businesses in the segment 2019s transportation technologies businesses grew at a high-single digit rate during 2016 as compared to 2015 , due primarily to strong demand for dispenser , payment and point-of-sale systems , environmental compliance products as well as vehicle and fleet management products , partly offset by weaker year-over-year demand for compressed natural gas products . as expected , beginning in the second half of 2016 , the business began to experience reduced emv-related demand for indoor point-of-sale solutions , as customers had largely upgraded to products that support indoor emv requirements in the prior year in response to the indoor liability shift . however , demand increased on a year-over-year basis for dispensers and payment systems as customers in the united states continued to upgrade equipment driven primarily by the emv deadlines related to outdoor payment systems . geographically , sales from existing businesses continued to increase on a year-over-year basis in the united states and to a lesser extent in asia and western europe . sales from existing businesses in the segment 2019s automation & specialty components business declined at a low-single digit rate during 2016 as compared to 2015 . the businesses experienced sequential year-over-year improvement in demand during the second half of 2016 as compared to the first half of 2016 . during 2016 , year-over-year demand declined for engine retarder products due primarily to weakness in the north american heavy-truck market , partly offset by strong growth in china and europe . in addition , year-over-year demand declined in certain medical and defense related end markets which were partly offset by increased year-over-year demand for industrial automation products particularly in china . geographically , sales from existing businesses in the segment 2019s automation & specialty components businesses declined in north america , partly offset by growth in western europe and china . sales from existing businesses in the segment 2019s franchise distribution business grew at a mid-single digit rate during 2016 , as compared to 2015 , due primarily to continued net increases in franchisees as well as continued growth in demand for professional tool products and tool storage products , primarily in the united states . this growth was partly offset by year- over-year declines in wheel service equipment sales during 2016 . operating profit margins increased 70 basis points during 2016 as compared to 2015 . the following factors favorably impacted year-over-year operating profit margin comparisons : 2022 higher 2016 sales volumes , pricing improvements , incremental year-over-year cost savings associated with restructuring and productivity improvement initiatives and the incrementally favorable impact of the impairment of certain tradenames used in the segment in 2015 and 2016 , net of costs associated with various growth investments , product development and sales and marketing growth investments , higher year-over-year costs associated with restructuring actions and changes in currency exchange rates : 65 basis points 2022 the incremental net accretive effect in 2016 of acquired businesses : 5 basis points cost of sales and gross profit .
|( $ in millions )|for the year ended december 31 2017|for the year ended december 31 2016|for the year ended december 31 2015|
|sales|$ 6656.0|$ 6224.3|$ 6178.8|
|cost of sales|-3357.5 ( 3357.5 )|-3191.5 ( 3191.5 )|-3178.8 ( 3178.8 )|
|gross profit|3298.5|3032.8|3000.0|
|gross profit margin|49.6% ( 49.6 % )|48.7% ( 48.7 % )|48.6% ( 48.6 % )|
the year-over-year increase in cost of sales during 2017 as compared to 2016 is due primarily to the impact of higher year- over-year sales volumes and changes in currency exchange rates partly offset by incremental year-over-year cost savings .
Question: what was the percentage change in sales from 2015 to 2016?
Answer: | 0.00736 |
FINQA3527 | Please answer the given financial question based on the context.
Context: notional amounts and derivative receivables marked to market ( 201cmtm 201d ) notional amounts ( a ) derivative receivables mtm as of december 31 .
|as of december 31 , ( in billions )|as of december 31 , 2005|as of december 31 , 2004|2005|2004|
|interest rate|$ 38493|$ 37022|$ 30|$ 46|
|foreign exchange|2136|1886|3|8|
|equity|458|434|6|6|
|credit derivatives|2241|1071|4|3|
|commodity|265|101|7|3|
|total|$ 43593|$ 40514|50|66|
|collateral held againstderivative receivables|na|na|-6 ( 6 )|-9 ( 9 )|
|exposure net of collateral|na|na|$ 44 ( b )|$ 57 ( c )|
( a ) the notional amounts represent the gross sum of long and short third-party notional derivative contracts , excluding written options and foreign exchange spot contracts , which significantly exceed the possible credit losses that could arise from such transactions . for most derivative transactions , the notional principal amount does not change hands ; it is used simply as a reference to calculate payments . ( b ) the firm held $ 33 billion of collateral against derivative receivables as of december 31 , 2005 , consisting of $ 27 billion in net cash received under credit support annexes to legally enforceable master netting agreements , and $ 6 billion of other liquid securities collateral . the benefit of the $ 27 billion is reflected within the $ 50 billion of derivative receivables mtm . excluded from the $ 33 billion of collateral is $ 10 billion of collateral delivered by clients at the initiation of transactions ; this collateral secures exposure that could arise in the derivatives portfolio should the mtm of the client 2019s transactions move in the firm 2019s favor . also excluded are credit enhancements in the form of letters of credit and surety receivables . ( c ) the firm held $ 41 billion of collateral against derivative receivables as of december 31 , 2004 , consisting of $ 32 billion in net cash received under credit support annexes to legally enforceable master netting agreements , and $ 9 billion of other liquid securities collateral . the benefit of the $ 32 billion is reflected within the $ 66 billion of derivative receivables mtm . excluded from the $ 41 billion of collateral is $ 10 billion of collateral delivered by clients at the initiation of transactions ; this collateral secures exposure that could arise in the derivatives portfolio should the mtm of the client 2019s transactions move in the firm 2019s favor . also excluded are credit enhancements in the form of letters of credit and surety receivables . management 2019s discussion and analysis jpmorgan chase & co . 68 jpmorgan chase & co . / 2005 annual report 1 year 2 years 5 years 10 years mdp avgavgdredre exposure profile of derivatives measures december 31 , 2005 ( in billions ) the following table summarizes the aggregate notional amounts and the reported derivative receivables ( i.e. , the mtm or fair value of the derivative contracts after taking into account the effects of legally enforceable master netting agreements ) at each of the dates indicated : the mtm of derivative receivables contracts represents the cost to replace the contracts at current market rates should the counterparty default . when jpmorgan chase has more than one transaction outstanding with a counter- party , and a legally enforceable master netting agreement exists with that counterparty , the netted mtm exposure , less collateral held , represents , in the firm 2019s view , the appropriate measure of current credit risk . while useful as a current view of credit exposure , the net mtm value of the derivative receivables does not capture the potential future variability of that credit exposure . to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) and average exposure ( 201cavg 201d ) . these measures all incorporate netting and collateral benefits , where applicable . peak exposure to a counterparty is an extreme measure of exposure calculated at a 97.5% ( 97.5 % ) confidence level . however , the total potential future credit risk embedded in the firm 2019s derivatives portfolio is not the simple sum of all peak client credit risks . this is because , at the portfolio level , credit risk is reduced by the fact that when offsetting transactions are done with separate counter- parties , only one of the two trades can generate a credit loss , even if both counterparties were to default simultaneously . the firm refers to this effect as market diversification , and the market-diversified peak ( 201cmdp 201d ) measure is a portfolio aggregation of counterparty peak measures , representing the maximum losses at the 97.5% ( 97.5 % ) confidence level that would occur if all coun- terparties defaulted under any one given market scenario and time frame . derivative risk equivalent ( 201cdre 201d ) exposure is a measure that expresses the riskiness of derivative exposure on a basis intended to be equivalent to the riskiness of loan exposures . the measurement is done by equating the unexpected loss in a derivative counterparty exposure ( which takes into consideration both the loss volatility and the credit rating of the counterparty ) with the unexpected loss in a loan exposure ( which takes into consideration only the credit rating of the counterparty ) . dre is a less extreme measure of potential credit loss than peak and is the primary measure used by the firm for credit approval of derivative transactions . finally , average exposure ( 201cavg 201d ) is a measure of the expected mtm value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral . avg exposure over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit capital and the credit valuation adjustment ( 201ccva 201d ) , as further described below . average exposure was $ 36 billion and $ 38 billion at december 31 , 2005 and 2004 , respectively , compared with derivative receivables mtm net of other highly liquid collateral of $ 44 billion and $ 57 billion at december 31 , 2005 and 2004 , respectively . the graph below shows exposure profiles to derivatives over the next 10 years as calculated by the mdp , dre and avg metrics . all three measures generally show declining exposure after the first year , if no new trades were added to the portfolio. .
Question: based on the notional amounts and derivative receivables marked to market what was percentage change in interest rate
Answer: | 0.03973 |
FINQA3528 | Please answer the given financial question based on the context.
Context: the company entered into agreements with various governmental entities in the states of kentucky , georgia and tennessee to implement tax abatement plans related to its distribution center in franklin , kentucky ( simpson county ) , its distribution center in macon , georgia ( bibb county ) , and its store support center in brentwood , tennessee ( williamson county ) . the tax abatement plans provide for reduction of real property taxes for specified time frames by legally transferring title to its real property in exchange for industrial revenue bonds . this property was then leased back to the company . no cash was exchanged . the lease payments are equal to the amount of the payments on the bonds . the tax abatement period extends through the term of the lease , which coincides with the maturity date of the bonds . at any time , the company has the option to purchase the real property by paying off the bonds , plus $ 1 . the terms and amounts authorized and drawn under each industrial revenue bond agreement are outlined as follows , as of december 30 , 2017 : bond term bond authorized amount ( in millions ) amount drawn ( in millions ) .
||bond term|bond authorized amount ( in millions )|amount drawn ( in millions )|
|franklin kentucky distribution center|30 years|$ 54.0|$ 51.8|
|macon georgia distribution center|15 years|$ 58.0|$ 49.9|
|brentwood tennessee store support center|10 years|$ 78.0|$ 75.3|
due to the form of these transactions , the company has not recorded the bonds or the lease obligation associated with the sale lease-back transaction . the original cost of the company 2019s property and equipment is recorded on the balance sheet and is being depreciated over its estimated useful life . capitalized software costs the company capitalizes certain costs related to the acquisition and development of software and amortizes these costs using the straight-line method over the estimated useful life of the software , which is three to five years . computer software consists of software developed for internal use and third-party software purchased for internal use . a subsequent addition , modification or upgrade to internal-use software is capitalized to the extent that it enhances the software 2019s functionality or extends its useful life . these costs are included in computer software and hardware in the accompanying consolidated balance sheets . certain software costs not meeting the criteria for capitalization are expensed as incurred . store closing costs the company regularly evaluates the performance of its stores and periodically closes those that are under-performing . the company records a liability for costs associated with an exit or disposal activity when the liability is incurred , usually in the period the store closes . store closing costs were not significant to the results of operations for any of the fiscal years presented . leases assets under capital leases are amortized in accordance with the company 2019s normal depreciation policy for owned assets or over the lease term , if shorter , and the related charge to operations is included in depreciation expense in the consolidated statements of income . certain operating leases include rent increases during the lease term . for these leases , the company recognizes the related rental expense on a straight-line basis over the term of the lease ( which includes the pre-opening period of construction , renovation , fixturing and merchandise placement ) and records the difference between the expense charged to operations and amounts paid as a deferred rent liability . the company occasionally receives reimbursements from landlords to be used towards improving the related store to be leased . leasehold improvements are recorded at their gross costs , including items reimbursed by landlords . related reimbursements are deferred and amortized on a straight-line basis as a reduction of rent expense over the applicable lease term . note 2 - share-based compensation : share-based compensation includes stock option and restricted stock unit awards and certain transactions under the company 2019s espp . share-based compensation expense is recognized based on the grant date fair value of all stock option and restricted stock unit awards plus a discount on shares purchased by employees as a part of the espp . the discount under the espp represents the difference between the purchase date market value and the employee 2019s purchase price. .
Question: what was the total amount lost from the bond authorization to the withdrawn?
Answer: | 13.0 |
FINQA3529 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries notes to consolidated financial statements commercial lending . the firm 2019s commercial lending commitments are extended to investment-grade and non-investment-grade corporate borrowers . commitments to investment-grade corporate borrowers are principally used for operating liquidity and general corporate purposes . the firm also extends lending commitments in connection with contingent acquisition financing and other types of corporate lending , as well as commercial real estate financing . commitments that are extended for contingent acquisition financing are often intended to be short-term in nature , as borrowers often seek to replace them with other funding sources . sumitomo mitsui financial group , inc . ( smfg ) provides the firm with credit loss protection on certain approved loan commitments ( primarily investment-grade commercial lending commitments ) . the notional amount of such loan commitments was $ 25.70 billion and $ 26.88 billion as of december 2017 and december 2016 , respectively . the credit loss protection on loan commitments provided by smfg is generally limited to 95% ( 95 % ) of the first loss the firm realizes on such commitments , up to a maximum of approximately $ 950 million . in addition , subject to the satisfaction of certain conditions , upon the firm 2019s request , smfg will provide protection for 70% ( 70 % ) of additional losses on such commitments , up to a maximum of $ 1.13 billion , of which $ 550 million and $ 768 million of protection had been provided as of december 2017 and december 2016 , respectively . the firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by smfg . these instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity , or credit default swaps that reference a market index . warehouse financing . the firm provides financing to clients who warehouse financial assets . these arrangements are secured by the warehoused assets , primarily consisting of retail and corporate loans . contingent and forward starting collateralized agreements / forward starting collateralized financings contingent and forward starting collateralized agreements includes resale and securities borrowing agreements , and forward starting collateralized financings includes repurchase and secured lending agreements that settle at a future date , generally within three business days . the firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements . the firm 2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused . letters of credit the firm has commitments under letters of credit issued by various banks which the firm provides to counterparties in lieu of securities or cash to satisfy various collateral and margin deposit requirements . investment commitments investment commitments includes commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages . investment commitments included $ 2.09 billion and $ 2.10 billion as of december 2017 and december 2016 , respectively , related to commitments to invest in funds managed by the firm . if these commitments are called , they would be funded at market value on the date of investment . leases the firm has contractual obligations under long-term noncancelable lease agreements for office space expiring on various dates through 2069 . certain agreements are subject to periodic escalation provisions for increases in real estate taxes and other charges . the table below presents future minimum rental payments , net of minimum sublease rentals . $ in millions december 2017 .
|$ in millions|as of december 2017|
|2018|$ 299|
|2019|282|
|2020|262|
|2021|205|
|2022|145|
|2023 - thereafter|771|
|total|$ 1964|
rent charged to operating expenses was $ 273 million for 2017 , $ 244 million for 2016 and $ 249 million for 2015 . goldman sachs 2017 form 10-k 163 .
Question: minimum rents due in 2023 - thereafter are what percent of total future minimum rental payments?\\n
Answer: | 0.39257 |
FINQA3530 | Please answer the given financial question based on the context.
Context: part ii , item 7 in 2006 , cash provided by financing activities was $ 291 million which was primarily due to the proceeds from employee stock plans ( $ 442 million ) and an increase in debt of $ 1.5 billion partially offset by the repurchase of 17.99 million shares of schlumberger stock ( $ 1.07 billion ) and the payment of dividends to shareholders ( $ 568 million ) . schlumberger believes that at december 31 , 2006 , cash and short-term investments of $ 3.0 billion and available and unused credit facilities of $ 2.2 billion are sufficient to meet future business requirements for at least the next twelve months . summary of major contractual commitments ( stated in millions ) .
|contractual commitments|total|payment period 2007|payment period 2008 - 2009|payment period 2010 - 2011|payment period after 2011|
|debt1|$ 5986|$ 1322|$ 2055|$ 1961|$ 648|
|operating leases|$ 691|$ 191|$ 205|$ 106|$ 189|
|purchase obligations2|$ 1526|$ 1490|$ 36|$ 2013|$ 2013|
purchase obligations 2 $ 1526 $ 1490 $ 36 $ 2013 $ 2013 1 . excludes future payments for interest . includes amounts relating to the $ 1425 million of convertible debentures which are described in note 11 of the consolidated financial statements . 2 . represents an estimate of contractual obligations in the ordinary course of business . although these contractual obligations are considered enforceable and legally binding , the terms generally allow schlumberger the option to reschedule and adjust their requirements based on business needs prior to the delivery of goods . refer to note 4 of the consolidated financial statements for details regarding potential commitments associated with schlumberger 2019s prior business acquisitions . refer to note 20 of the consolidated financial statements for details regarding schlumberger 2019s pension and other postretirement benefit obligations . schlumberger has outstanding letters of credit/guarantees which relate to business performance bonds , custom/excise tax commitments , facility lease/rental obligations , etc . these were entered into in the ordinary course of business and are customary practices in the various countries where schlumberger operates . critical accounting policies and estimates the preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the united states requires schlumberger to make estimates and assumptions that affect the reported amounts of assets and liabilities , the disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses . the following accounting policies involve 201ccritical accounting estimates 201d because they are particularly dependent on estimates and assumptions made by schlumberger about matters that are inherently uncertain . a summary of all of schlumberger 2019s significant accounting policies is included in note 2 to the consolidated financial statements . schlumberger bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances , the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources . actual results may differ from these estimates under different assumptions or conditions . multiclient seismic data the westerngeco segment capitalizes the costs associated with obtaining multiclient seismic data . the carrying value of the multiclient seismic data library at december 31 , 2006 , 2005 and 2004 was $ 227 million , $ 222 million and $ 347 million , respectively . such costs are charged to cost of goods sold and services based on the percentage of the total costs to the estimated total revenue that schlumberger expects to receive from the sales of such data . however , except as described below under 201cwesterngeco purchase accounting , 201d under no circumstance will an individual survey carry a net book value greater than a 4-year straight-lined amortized value. .
Question: what is the percent of the operating leases in 2007 as part of the total amount?
Answer: | 0.27641 |
FINQA3531 | Please answer the given financial question based on the context.
Context: cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased . accounts receivable and allowance for doubtful accounts accounts receivable are carried at the invoiced amounts , less an allowance for doubtful accounts , and generally do not bear interest . the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates . the company 2019s estimates include separately providing for customer receivables based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible . account balances are written off against the allowance when it is determined the receivable will not be recovered . the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 15 million , $ 14 million and $ 15 million as of december 31 , 2017 , 2016 , and 2015 , respectively . returns and credit activity is recorded directly to sales as a reduction . the following table summarizes the activity in the allowance for doubtful accounts: .
|( millions )|2017|2016|2015|
|beginning balance|$ 67.6|$ 75.3|$ 77.5|
|bad debt expense|17.1|20.1|25.8|
|write-offs|-15.7 ( 15.7 )|-24.6 ( 24.6 )|-21.9 ( 21.9 )|
|other ( a )|2.5|-3.2 ( 3.2 )|-6.1 ( 6.1 )|
|ending balance|$ 71.5|$ 67.6|$ 75.3|
( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits . inventory valuations inventories are valued at the lower of cost or net realizable value . certain u.s . inventory costs are determined on a last-in , first-out ( 201clifo 201d ) basis . lifo inventories represented 39% ( 39 % ) and 40% ( 40 % ) of consolidated inventories as of december 31 , 2017 and 2016 , respectively . all other inventory costs are determined using either the average cost or first-in , first-out ( 201cfifo 201d ) methods . inventory values at fifo , as shown in note 5 , approximate replacement cost . property , plant and equipment property , plant and equipment assets are stated at cost . merchandising and customer equipment consists principally of various dispensing systems for the company 2019s cleaning and sanitizing products , dishwashing machines and process control and monitoring equipment . certain dispensing systems capitalized by the company are accounted for on a mass asset basis , whereby equipment is capitalized and depreciated as a group and written off when fully depreciated . the company capitalizes both internal and external costs of development or purchase of computer software for internal use . costs incurred for data conversion , training and maintenance associated with capitalized software are expensed as incurred . expenditures for major renewals and improvements , which significantly extend the useful lives of existing plant and equipment , are capitalized and depreciated . expenditures for repairs and maintenance are charged to expense as incurred . upon retirement or disposition of plant and equipment , the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in income . depreciation is charged to operations using the straight-line method over the assets 2019 estimated useful lives ranging from 5 to 40 years for buildings and leasehold improvements , 3 to 20 years for machinery and equipment , 3 to 15 years for merchandising and customer equipment and 3 to 7 years for capitalized software . the straight-line method of depreciation reflects an appropriate allocation of the cost of the assets to earnings in proportion to the amount of economic benefits obtained by the company in each reporting period . depreciation expense was $ 586 million , $ 561 million and $ 560 million for 2017 , 2016 and 2015 , respectively. .
Question: the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped . as of december 31 , 2017 , what percentage of the ending balance is this?
Answer: | 0.20979 |
FINQA3532 | Please answer the given financial question based on the context.
Context: employees . as explained below , pursuant to sfas 123 ( r ) , the charge to income for awards made to retirement-eligible employees is accelerated based on the dates the retirement rules are met . cap and certain other awards provide that participants who meet certain age and years of service conditions may continue to vest in all or a portion of the award without remaining employed by the company during the entire vesting period , so long as they do not compete with citigroup during that time . beginning in 2006 , awards to these retirement-eligible employees are recognized in the year prior to the grant in the same manner as cash incentive compensation is accrued . however , awards granted in january 2006 were required to be expensed in their entirety at the date of grant . prior to 2006 , all awards were recognized ratably over the stated vesting period . see note 1 to the consolidated financial statements on page 122 for the impact of adopting sfas 123 ( r ) . from 2003 to 2007 , citigroup granted restricted or deferred shares annually under the citigroup ownership program ( cop ) to eligible employees . this program replaced the wealthbuilder , citibuilder and citigroup ownership stock option programs . under cop , eligible employees received either restricted or deferred shares of citigroup common stock that vest after three years . the last award under this program was in 2007 . unearned compensation expense associated with the stock grants represents the market value of citigroup common stock at the date of grant and is recognized as a charge to income ratably over the vesting period , except for those awards granted to retirement-eligible employees . the charge to income for awards made to retirement-eligible employees is accelerated based on the dates the retirement rules are met . on july 17 , 2007 , the personnel and compensation committee of citigroup 2019s board of directors approved the management committee long- term incentive plan ( mc ltip ) , under the terms of the shareholder- approved 1999 stock incentive plan . the mc ltip provides members of the citigroup management committee , including the ceo , cfo and the named executive officers in the citigroup proxy statement , an opportunity to earn stock awards based on citigroup 2019s performance . each participant received an equity award that will be earned based on citigroup 2019s performance for the period from july 1 , 2007 to december 31 , 2009 . three periods will be measured for performance ( july 1 , 2007 to december 31 , 2007 , full year 2008 and full year 2009 ) . the ultimate value of the award will be based on citigroup 2019s performance in each of these periods with respect to ( 1 ) total shareholder return versus citigroup 2019s current key competitors and ( 2 ) publicly stated return on equity ( roe ) targets measured at the end of each calendar year . if , in any of the three performance periods , citigroup 2019s total shareholder return does not exceed the median performance of the peer group , the participants will not receive award shares for that period . the awards will generally vest after 30 months . in order to receive the shares , a participant generally must be a citigroup employee on january 5 , 2010 . the final expense for each of the three calendar years will be adjusted based on the results of the roe tests . no awards were earned for 2008 or 2007 because performance targets were not met . no new awards were made under the mc ltip since the initial award in july 2007 . on january 22 , 2008 , special retention stock awards were made to key senior executive officers and certain other members of senior management . the awards vest ratably over two- or four-year periods . executives must remain employed through the vesting dates to receive the shares awarded , except in cases of death , disability , or involuntary termination other than for gross misconduct . unlike cap , post-employment vesting is not provided for participants who meet specified age and years of service conditions . shares subject to some of the awards are exempted from the stock ownership commitment . a summary of the status of citigroup 2019s unvested stock awards as of december 31 , 2008 , and changes during the 12 months ended december 31 , 2008 , is presented below : unvested stock awards shares weighted average grant date fair value .
|unvested stock awards|shares|weighted average grant date fair value|
|unvested at january 1 2008|153207132|$ 50.70|
|awards|149140314|$ 26.04|
|cancellations|-20945018 ( 20945018 )|$ 42.92|
|deletions|-1968824 ( 1968824 )|$ 25.94|
|vestings ( 1 )|-53222745 ( 53222745 )|$ 47.06|
|unvested at december 31 2008|226210859|$ 36.23|
( 1 ) the weighted average market value of the vestings during 2008 was approximately $ 22.31 per share . as of december 31 , 2008 , there was $ 3.3 billion of total unrecognized compensation cost related to unvested stock awards net of the forfeiture provision . that cost is expected to be recognized over a weighted-average period of 2.6 years. .
Question: what was the approximate value of the shares that vested during 2008
Answer: | 1187399440.95 |
FINQA3533 | Please answer the given financial question based on the context.
Context: as of september 24 , 2011 , the total amount of gross unrecognized tax benefits was $ 1.4 billion , of which $ 563 million , if recognized , would affect the company 2019s effective tax rate . as of september 25 , 2010 , the total amount of gross unrecognized tax benefits was $ 943 million , of which $ 404 million , if recognized , would affect the company 2019s effective tax rate . the aggregate changes in the balance of gross unrecognized tax benefits , which excludes interest and penalties , for the three years ended september 24 , 2011 , is as follows ( in millions ) : .
||2011|2010|2009|
|beginning balance|$ 943|971|$ 506|
|increases related to tax positions taken during a prior year|49|61|341|
|decreases related to tax positions taken during a prior year|-39 ( 39 )|-224 ( 224 )|-24 ( 24 )|
|increases related to tax positions taken during the current year|425|240|151|
|decreases related to settlements with taxing authorities|0|-102 ( 102 )|0|
|decreases related to expiration of statute of limitations|-3 ( 3 )|-3 ( 3 )|-3 ( 3 )|
|ending balance|$ 1375|$ 943|$ 971|
the company includes interest and penalties related to unrecognized tax benefits within the provision for income taxes . as of september 24 , 2011 and september 25 , 2010 , the total amount of gross interest and penalties accrued was $ 261 million and $ 247 million , respectively , which is classified as non-current liabilities in the consolidated balance sheets . in connection with tax matters , the company recognized interest expense in 2011 and 2009 of $ 14 million and $ 64 million , respectively , and in 2010 the company recognized an interest benefit of $ 43 million . the company is subject to taxation and files income tax returns in the u.s . federal jurisdiction and in many state and foreign jurisdictions . for u.s . federal income tax purposes , all years prior to 2004 are closed . the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments . the company has contested certain of these adjustments through the irs appeals office . the irs is currently examining the years 2007 through 2009 . in addition , the company is also subject to audits by state , local and foreign tax authorities . in major states and major foreign jurisdictions , the years subsequent to 1988 and 2001 , respectively , generally remain open and could be subject to examination by the taxing authorities . management believes that an adequate provision has been made for any adjustments that may result from tax examinations . however , the outcome of tax audits cannot be predicted with certainty . if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income tax in the period such resolution occurs . although timing of the resolution and/or closure of audits is not certain , the company does not believe it is reasonably possible that its unrecognized tax benefits would materially change in the next 12 months . note 6 2013 shareholders 2019 equity and share-based compensation preferred stock the company has five million shares of authorized preferred stock , none of which is issued or outstanding . under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock . comprehensive income comprehensive income consists of two components , net income and other comprehensive income . other comprehensive income refers to revenue , expenses , gains and losses that under gaap are recorded as an element .
Question: what was the net change in millions of the gross unrecognized tax benefits between 2009 and 2010?
Answer: | -28.0 |
FINQA3534 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis liquidity risk management liquidity is of critical importance to financial institutions . most of the recent failures of financial institutions have occurred in large part due to insufficient liquidity . accordingly , the firm has in place a comprehensive and conservative set of liquidity and funding policies to address both firm-specific and broader industry or market liquidity events . our principal objective is to be able to fund the firm and to enable our core businesses to continue to serve clients and generate revenues , even under adverse circumstances . we manage liquidity risk according to the following principles : excess liquidity . we maintain substantial excess liquidity to meet a broad range of potential cash outflows and collateral needs in a stressed environment . asset-liability management . we assess anticipated holding periods for our assets and their expected liquidity in a stressed environment . we manage the maturities and diversity of our funding across markets , products and counterparties , and seek to maintain liabilities of appropriate tenor relative to our asset base . contingency funding plan . we maintain a contingency funding plan to provide a framework for analyzing and responding to a liquidity crisis situation or periods of market stress . this framework sets forth the plan of action to fund normal business activity in emergency and stress situations . these principles are discussed in more detail below . excess liquidity our most important liquidity policy is to pre-fund our estimated potential cash and collateral needs during a liquidity crisis and hold this excess liquidity in the form of unencumbered , highly liquid securities and cash . we believe that the securities held in our global core excess would be readily convertible to cash in a matter of days , through liquidation , by entering into repurchase agreements or from maturities of reverse repurchase agreements , and that this cash would allow us to meet immediate obligations without needing to sell other assets or depend on additional funding from credit-sensitive markets . as of december 2012 and december 2011 , the fair value of the securities and certain overnight cash deposits included in our gce totaled $ 174.62 billion and $ 171.58 billion , respectively . based on the results of our internal liquidity risk model , discussed below , as well as our consideration of other factors including , but not limited to , a qualitative assessment of the condition of the financial markets and the firm , we believe our liquidity position as of december 2012 was appropriate . the table below presents the fair value of the securities and certain overnight cash deposits that are included in our gce . average for the year ended december in millions 2012 2011 .
|in millions|average for theyear ended december 2012|average for theyear ended december 2011|
|u.s . dollar-denominated|$ 125111|$ 125668|
|non-u.s . dollar-denominated|46984|40291|
|total|$ 172095|$ 165959|
the u.s . dollar-denominated excess is composed of ( i ) unencumbered u.s . government and federal agency obligations ( including highly liquid u.s . federal agency mortgage-backed obligations ) , all of which are eligible as collateral in federal reserve open market operations and ( ii ) certain overnight u.s . dollar cash deposits . the non-u.s . dollar-denominated excess is composed of only unencumbered german , french , japanese and united kingdom government obligations and certain overnight cash deposits in highly liquid currencies . we strictly limit our excess liquidity to this narrowly defined list of securities and cash because they are highly liquid , even in a difficult funding environment . we do not include other potential sources of excess liquidity , such as less liquid unencumbered securities or committed credit facilities , in our gce . goldman sachs 2012 annual report 81 .
Question: what was the change as of december 2012 and december 2011 in the fair value of the securities and certain overnight cash deposits in billions?
Answer: | 3.04 |
FINQA3535 | Please answer the given financial question based on the context.
Context: the weighted average grant date fair value of options granted during 2012 , 2011 , and 2010 was $ 13 , $ 19 and $ 20 per share , respectively . the total intrinsic value of options exercised during the years ended december 31 , 2012 , 2011 and 2010 , was $ 19.0 million , $ 4.2 million and $ 15.6 million , respectively . in 2012 , the company granted 931340 shares of restricted class a common stock and 4048 shares of restricted stock units . restricted common stock and restricted stock units generally have a vesting period of 2 to 4 years . the fair value related to these grants was $ 54.5 million , which is recognized as compensation expense on an accelerated basis over the vesting period . beginning with restricted stock grants in september 2010 , dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests . in 2012 , the company also granted 138410 performance shares . the fair value related to these grants was $ 7.7 million , which is recognized as compensation expense on an accelerated and straight-lined basis over the vesting period . the vesting of these shares is contingent on meeting stated performance or market conditions . the following table summarizes restricted stock , restricted stock units , and performance shares activity for 2012 : number of shares weighted average grant date fair value outstanding at december 31 , 2011 . . . . . . . . . . . . . . 1432610 $ 57 .
||number of shares|weightedaveragegrant datefair value|
|outstanding at december 31 2011|1432610|$ 57|
|granted|1073798|54|
|vested|-366388 ( 366388 )|55|
|cancelled|-226493 ( 226493 )|63|
|outstanding at december 31 2012|1913527|54|
outstanding at december 31 , 2012 . . . . . . . . . . . . . . 1913527 54 the total fair value of restricted stock , restricted stock units , and performance shares that vested during the years ended december 31 , 2012 , 2011 and 2010 , was $ 20.9 million , $ 11.6 million and $ 10.3 million , respectively . eligible employees may acquire shares of class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration . shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq global select market . compensation expense is recognized on the dates of purchase for the discount from the closing price . in 2012 , 2011 and 2010 , a total of 27768 , 32085 and 21855 shares , respectively , of class a common stock were issued to participating employees . these shares are subject to a six-month holding period . annual expense of $ 0.1 million , $ 0.2 million and $ 0.1 million for the purchase discount was recognized in 2012 , 2011 and 2010 , respectively . non-executive directors receive an annual award of class a common stock with a value equal to $ 75000 . non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 25000 , in shares of stock based on the closing price at the date of distribution . as a result , 40260 , 40585 and 37350 shares of class a common stock were issued to non-executive directors during 2012 , 2011 and 2010 , respectively . these shares are not subject to any vesting restrictions . expense of $ 2.2 million , $ 2.1 million and $ 2.4 million related to these stock-based payments was recognized for the years ended december 31 , 2012 , 2011 and 2010 , respectively . 19 . fair value measurements in general , the company uses quoted prices in active markets for identical assets to determine the fair value of marketable securities and equity investments . level 1 assets generally include u.s . treasury securities , equity securities listed in active markets , and investments in publicly traded mutual funds with quoted market prices . if quoted prices are not available to determine fair value , the company uses other inputs that are directly observable . assets included in level 2 generally consist of asset- backed securities , municipal bonds , u.s . government agency securities and interest rate swap contracts . asset-backed securities , municipal bonds and u.s . government agency securities were measured at fair value based on matrix pricing using prices of similar securities with similar inputs such as maturity dates , interest rates and credit ratings . the company determined the fair value of its interest rate swap contracts using standard valuation models with market-based observable inputs including forward and spot exchange rates and interest rate curves. .
Question: what was the average number of shares of class a common stock were issued to non-executive between 2010 and 2012
Answer: | 59099.0 |
FINQA3536 | Please answer the given financial question based on the context.
Context: outlook budget our board of directors approved a capital , investment and exploration spending budget of $ 5882 million for 2014 , including budgeted capital expenditures of $ 5777 million . our capital , investment and exploration spending budget is broken down by reportable segment in the table below . ( in millions ) 2014 budget percent of .
|( in millions )|2014 budget|percent of total|
|north america e&p|$ 4241|72% ( 72 % )|
|international e&p|1242|21% ( 21 % )|
|oil sands mining|294|5% ( 5 % )|
|segment total|5777|98% ( 98 % )|
|corporate and other|105|2% ( 2 % )|
|total capital investment and exploration spending budget|$ 5882|100% ( 100 % )|
we continue to focus on growing profitable reserves and production worldwide . in 2014 , we are accelerating drilling activity in our three key u.s . unconventional resource plays : the eagle ford , bakken and oklahoma resource basins , which account for approximately 60 percent of our budget . the majority of spending in our unconventional resource plays is intended for drilling . with an increased number of rigs in each of these areas , we plan to drill more net wells in these areas than in any previous year . we also have dedicated a portion of our capital budget in these areas to facility construction and recompletions . in our conventional assets , we will follow a disciplined spending plan that is intended to provide stable productionwith approximately 23 percent of our budget allocated to the development of these assets worldwide . we also plan to either drill or participate in 8 to 10 exploration wells throughout our portfolio , with 10 percent of our budget allocated to exploration projects . for additional information about expected exploration and development activities see item 1 . business . the above discussion includes forward-looking statements with respect to projected spending and investment in exploration and development activities under the 2014 capital , investment and exploration spending budget , accelerated rig and drilling activity in the eagle ford , bakken , and oklahoma resource basins , and future exploratory and development drilling activity . some factors which could potentially affect these forward-looking statements include pricing , supply and demand for liquid hydrocarbons and natural gas , the amount of capital available for exploration and development , regulatory constraints , timing of commencing production from new wells , drilling rig availability , availability of materials and labor , other risks associated with construction projects , unforeseen hazards such as weather conditions , acts of war or terrorist acts and the governmental or military response , and other geological , operating and economic considerations . these forward-looking statements may be further affected by the inability to obtain or delay in obtaining necessary government and third-party approvals or permits . the development projects could further be affected by presently known data concerning size and character of reservoirs , economic recoverability , future drilling success and production experience . the foregoing factors ( among others ) could cause actual results to differ materially from those set forth in the forward-looking statements . sales volumes we expect to increase our u.s . resource plays' net sales volumes by more than 30 percent in 2014 compared to 2013 , excluding dispositions . in addition , we expect total production growth to be approximately 4 percent in 2014 versus 2013 , excluding dispositions and libya . acquisitions and dispositions excluded from our budget are the impacts of acquisitions and dispositions not previously announced . we continually evaluate ways to optimize our portfolio through acquisitions and divestitures and exceeded our previously stated goal of divesting between $ 1.5 billion and $ 3.0 billion of assets over the period of 2011 through 2013 . for the three-year period ended december 31 , 2013 , we closed or entered agreements for approximately $ 3.5 billion in divestitures , of which $ 2.1 billion is from the sales of our angola assets . the sale of our interest in angola block 31 closed in february 2014 and the sale of our interest in angola block 32 is expected to close in the first quarter of 2014 . in december 2013 , we announced the commencement of efforts to market our assets in the north sea , both in the u.k . and norway , which would simplify and concentrate our portfolio to higher margin growth opportunities and increase our production growth rate . the above discussion includes forward-looking statements with respect to our percentage growth rate of production , production available for sale , the sale of our interest in angola block 32 and the possible sale of our u.k . and norway assets . some factors .
Question: capital expenses were what percent of total capital , investment and exploration spending budget for 2014?
Answer: | 0.98215 |
FINQA3537 | Please answer the given financial question based on the context.
Context: instruments at fair value and to recognize the effective and ineffective portions of the cash flow hedges . ( 2 ) for the year ended december 31 , 2000 , earnings available to common stockholders includes reductions of $ 2371 of preferred stock dividends and $ 16266 for the redemption of pca 2019s 123 20448% ( 20448 % ) preferred stock . ( 3 ) on october 13 , 2003 , pca announced its intention to begin paying a quarterly cash dividend of $ 0.15 per share , or $ 0.60 per share annually , on its common stock . the first quarterly dividend of $ 0.15 per share was paid on january 15 , 2004 to shareholders of record as of december 15 , 2003 . pca did not declare any dividends on its common stock in 2000 - 2002 . ( 4 ) total long-term obligations include long-term debt , short-term debt and the current maturities of long-term debt . item 7 . management 2019s discussion and analysis of financial condition and results of operations the following discussion of historical results of operations and financial condition should be read in conjunction with the audited financial statements and the notes thereto which appear elsewhere in this report . overview on april 12 , 1999 , pca acquired the containerboard and corrugated products business of pactiv corporation ( the 201cgroup 201d ) , formerly known as tenneco packaging inc. , a wholly owned subsidiary of tenneco , inc . the group operated prior to april 12 , 1999 as a division of pactiv , and not as a separate , stand-alone entity . from its formation in january 1999 and through the closing of the acquisition on april 12 , 1999 , pca did not have any significant operations . the april 12 , 1999 acquisition was accounted for using historical values for the contributed assets . purchase accounting was not applied because , under the applicable accounting guidance , a change of control was deemed not to have occurred as a result of the participating veto rights held by pactiv after the closing of the transactions under the terms of the stockholders agreement entered into in connection with the transactions . results of operations year ended december 31 , 2004 compared to year ended december 31 , 2003 the historical results of operations of pca for the years ended december , 31 2004 and 2003 are set forth the below : for the year ended december 31 , ( in millions ) 2004 2003 change .
|( in millions )|2004|2003|change|
|net sales|$ 1890.1|$ 1735.5|$ 154.6|
|income before interest and taxes|$ 140.5|$ 96.9|$ 43.6|
|interest expense net|-29.6 ( 29.6 )|-121.8 ( 121.8 )|92.2|
|income ( loss ) before taxes|110.9|-24.9 ( 24.9 )|135.8|
|( provision ) benefit for income taxes|-42.2 ( 42.2 )|10.5|-52.7 ( 52.7 )|
|net income ( loss )|$ 68.7|$ -14.4 ( 14.4 )|$ 83.1|
.
Question: was interest expense net in 2004 greater than ( provision ) benefit for income taxes?
Answer: | yes |
FINQA3538 | Please answer the given financial question based on the context.
Context: consolidated income statement review our consolidated income statement is presented in item 8 of this report . net income for 2008 was $ 882 million and for 2007 was $ 1.467 billion . total revenue for 2008 increased 7% ( 7 % ) compared with 2007 . we created positive operating leverage in the year-to-date comparison as total noninterest expense increased 3% ( 3 % ) in the comparison . net interest income and net interest margin year ended december 31 dollars in millions 2008 2007 .
|year ended december 31 dollars in millions|2008|2007|
|net interest income|$ 3823|$ 2915|
|net interest margin|3.37% ( 3.37 % )|3.00% ( 3.00 % )|
changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding . see statistical information 2013 analysis of year-to-year changes in net interest ( unaudited ) income and average consolidated balance sheet and net interest analysis in item 8 of this report for additional information . the 31% ( 31 % ) increase in net interest income for 2008 compared with 2007 was favorably impacted by the $ 16.5 billion , or 17% ( 17 % ) , increase in average interest-earning assets and a decrease in funding costs . the 2008 net interest margin was positively affected by declining rates paid on deposits and borrowings compared with the prior year . the reasons driving the higher interest-earning assets in these comparisons are further discussed in the balance sheet highlights portion of the executive summary section of this item 7 . the net interest margin was 3.37% ( 3.37 % ) for 2008 and 3.00% ( 3.00 % ) for 2007 . the following factors impacted the comparison : 2022 a decrease in the rate paid on interest-bearing liabilities of 140 basis points . the rate paid on interest-bearing deposits , the single largest component , decreased 123 basis points . 2022 these factors were partially offset by a 77 basis point decrease in the yield on interest-earning assets . the yield on loans , the single largest component , decreased 109 basis points . 2022 in addition , the impact of noninterest-bearing sources of funding decreased 26 basis points due to lower interest rates and a lower proportion of noninterest- bearing sources of funding to interest-earning assets . for comparing to the broader market , during 2008 the average federal funds rate was 1.94% ( 1.94 % ) compared with 5.03% ( 5.03 % ) for 2007 . we expect our full-year 2009 net interest income to benefit from the impact of interest accretion of discounts resulting from purchase accounting marks and deposit pricing alignment related to our national city acquisition . we also currently expect our 2009 net interest margin to improve on a year-over-year basis . noninterest income summary noninterest income was $ 3.367 billion for 2008 and $ 3.790 billion for 2007 . noninterest income for 2008 included the following : 2022 gains of $ 246 million related to the mark-to-market adjustment on our blackrock ltip shares obligation , 2022 losses related to our commercial mortgage loans held for sale of $ 197 million , net of hedges , 2022 impairment and other losses related to alternative investments of $ 179 million , 2022 income from hilliard lyons totaling $ 164 million , including the first quarter gain of $ 114 million from the sale of this business , 2022 net securities losses of $ 206 million , 2022 a first quarter gain of $ 95 million related to the redemption of a portion of our visa class b common shares related to visa 2019s march 2008 initial public offering , 2022 a third quarter $ 61 million reversal of a legal contingency reserve established in connection with an acquisition due to a settlement , 2022 trading losses of $ 55 million , 2022 a $ 35 million impairment charge on commercial mortgage servicing rights , and 2022 equity management losses of $ 24 million . noninterest income for 2007 included the following : 2022 the impact of $ 82 million gain recognized in connection with our transfer of blackrock shares to satisfy a portion of pnc 2019s ltip obligation and a $ 209 million net loss on our ltip shares obligation , 2022 income from hilliard lyons totaling $ 227 million , 2022 trading income of $ 104 million , 2022 equity management gains of $ 102 million , and 2022 gains related to our commercial mortgage loans held for sale of $ 3 million , net of hedges . apart from the impact of these items , noninterest income increased $ 16 million in 2008 compared with 2007 . additional analysis fund servicing fees increased $ 69 million in 2008 , to $ 904 million , compared with $ 835 million in 2007 . the impact of the december 2007 acquisition of albridge solutions inc . ( 201calbridge solutions 201d ) and growth in global investment servicing 2019s offshore operations were the primary drivers of this increase . global investment servicing provided fund accounting/ administration services for $ 839 billion of net fund investment assets and provided custody services for $ 379 billion of fund .
Question: between 2008 and 2007 , what was the change in net interest income in millions?
Answer: | 908.0 |
FINQA3539 | Please answer the given financial question based on the context.
Context: additions to property , plant and equipment are our most significant use of cash and cash equivalents . the following table shows capital expenditures related to continuing operations by segment and reconciles to additions to property , plant and equipment as presented in the consolidated statements of cash flows for 2014 , 2013 and 2012: .
|( in millions )|year ended december 31 , 2014|year ended december 31 , 2013|year ended december 31 , 2012|
|north america e&p|$ 4698|$ 3649|$ 3988|
|international e&p|534|456|235|
|oil sands mining|212|286|188|
|corporate|51|58|115|
|total capital expenditures|5495|4449|4526|
|change in capital expenditure accrual|-335 ( 335 )|-6 ( 6 )|-165 ( 165 )|
|additions to property plant and equipment|$ 5160|$ 4443|$ 4361|
as of december 31 , 2014 , we had repurchased a total of 121 million common shares at a cost of $ 4.7 billion , including 29 million shares at a cost of $ 1 billion in the first six months of 2014 and 14 million shares at a cost of $ 500 million in the third quarter of 2013 . see item 8 . financial statements and supplementary data 2013 note 22 to the consolidated financial statements for discussion of purchases of common stock . liquidity and capital resources our main sources of liquidity are cash and cash equivalents , internally generated cash flow from operations , continued access to capital markets , our committed revolving credit facility and sales of non-strategic assets . our working capital requirements are supported by these sources and we may issue commercial paper backed by our $ 2.5 billion revolving credit facility to meet short-term cash requirements . because of the alternatives available to us as discussed above and access to capital markets through the shelf registration discussed below , we believe that our short-term and long-term liquidity is adequate to fund not only our current operations , but also our near-term and long-term funding requirements including our capital spending programs , dividend payments , defined benefit plan contributions , repayment of debt maturities and other amounts that may ultimately be paid in connection with contingencies . at december 31 , 2014 , we had approximately $ 4.9 billion of liquidity consisting of $ 2.4 billion in cash and cash equivalents and $ 2.5 billion availability under our revolving credit facility . as discussed in more detail below in 201coutlook 201d , we are targeting a $ 3.5 billion budget for 2015 . based on our projected 2015 cash outlays for our capital program and dividends , we expect to outspend our cash flows from operations for the year . we will be constantly monitoring our available liquidity during 2015 and we have the flexibility to adjust our budget throughout the year in response to the commodity price environment . we will also continue to drive the fundamentals of expense management , including organizational capacity and operational reliability . capital resources credit arrangements and borrowings in may 2014 , we amended our $ 2.5 billion unsecured revolving credit facility and extended the maturity to may 2019 . see note 16 to the consolidated financial statements for additional terms and rates . at december 31 , 2014 , we had no borrowings against our revolving credit facility and no amounts outstanding under our u.s . commercial paper program that is backed by the revolving credit facility . at december 31 , 2014 , we had $ 6391 million in long-term debt outstanding , and $ 1068 million is due within one year , of which the majority is due in the fourth quarter of 2015 . we do not have any triggers on any of our corporate debt that would cause an event of default in the case of a downgrade of our credit ratings . shelf registration we have a universal shelf registration statement filed with the sec , under which we , as "well-known seasoned issuer" for purposes of sec rules , have the ability to issue and sell an indeterminate amount of various types of debt and equity securities from time to time. .
Question: what percentage of total capital expenditures were attributed to north america e&p in 2014?
Answer: | 0.85496 |
FINQA3540 | Please answer the given financial question based on the context.
Context: the following table details the growth in global weighted average berths and the global , north american , european and asia/pacific cruise guests over the past five years ( in thousands , except berth data ) : weighted- average supply of berths marketed globally ( 1 ) caribbean cruises ltd . total berths ( 2 ) global cruise guests ( 1 ) american cruise guests ( 1 ) ( 3 ) european cruise guests ( 1 ) ( 4 ) asia/pacific cruise guests ( 1 ) ( 5 ) .
|year|weighted-averagesupply ofberthsmarketedglobally ( 1 )|royal caribbean cruises ltd . total berths ( 2 )|globalcruiseguests ( 1 )|north american cruise guests ( 1 ) ( 3 )|european cruise guests ( 1 ) ( 4 )|asia/pacific cruise guests ( 1 ) ( 5 )|
|2012|425000|98650|20813|11641|6225|1474|
|2013|432000|98750|21343|11710|6430|2045|
|2014|448000|105750|22039|12269|6387|2382|
|2015|469000|112700|23000|12004|6587|3129|
|2016|493000|123270|24000|12581|6542|3636|
_______________________________________________________________________________ ( 1 ) source : our estimates of the number of global cruise guests and the weighted-average supply of berths marketed globally are based on a combination of data that we obtain from various publicly available cruise industry trade information sources . we use data obtained from seatrade insider , cruise industry news and company press releases to estimate weighted-average supply of berths and clia and g.p . wild to estimate cruise guest information . in addition , our estimates incorporate our own statistical analysis utilizing the same publicly available cruise industry data as a base . ( 2 ) total berths include our berths related to our global brands and partner brands . ( 3 ) our estimates include the united states and canada . ( 4 ) our estimates include european countries relevant to the industry ( e.g. , nordics , germany , france , italy , spain and the united kingdom ) . ( 5 ) our estimates include the southeast asia ( e.g. , singapore , thailand and the philippines ) , east asia ( e.g. , china and japan ) , south asia ( e.g. , india and pakistan ) and oceanian ( e.g. , australia and fiji islands ) regions . north america the majority of industry cruise guests are sourced from north america , which represented approximately 52% ( 52 % ) of global cruise guests in 2016 . the compound annual growth rate in cruise guests sourced from this market was approximately 2% ( 2 % ) from 2012 to 2016 . europe industry cruise guests sourced from europe represented approximately 27% ( 27 % ) of global cruise guests in 2016 . the compound annual growth rate in cruise guests sourced from this market was approximately 1% ( 1 % ) from 2012 to 2016 . asia/pacific industry cruise guests sourced from the asia/pacific region represented approximately 15% ( 15 % ) of global cruise guests in 2016 . the compound annual growth rate in cruise guests sourced from this market was approximately 25% ( 25 % ) from 2012 to 2016 . the asia/pacific region is experiencing the highest growth rate of the major regions , although it will continue to represent a relatively small sector compared to north america . competition we compete with a number of cruise lines . our principal competitors are carnival corporation & plc , which owns , among others , aida cruises , carnival cruise line , costa cruises , cunard line , holland america line , p&o cruises , princess cruises and seabourn ; disney cruise line ; msc cruises ; and norwegian cruise line holdings ltd , which owns norwegian cruise line , oceania cruises and regent seven seas cruises . cruise lines compete with .
Question: in 2012 what was the percentage of the weighted-average supply of berths marketed globally belonged to the royal caribbean cruises
Answer: | 0.23212 |
FINQA3541 | Please answer the given financial question based on the context.
Context: table of contents hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) location during fiscal 2009 . the company was responsible for a significant portion of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period , in accordance with asc 840 , leases , subsection 40-15-5 . during the year ended september 27 , 2008 , the company recorded an additional $ 4400 in fair market value of the building , which was completed in fiscal 2008 . this is in addition to the $ 3000 fair market value of the land and the $ 7700 fair market value related to the building constructed that cytyc had recorded as of october 22 , 2007 . the company has recorded such fair market value within property and equipment on its consolidated balance sheets . at september 26 , 2009 , the company has recorded $ 1508 in accrued expenses and $ 16329 in other long-term liabilities related to this obligation in the consolidated balance sheet . the term of the lease is for a period of approximately ten years with the option to extend for two consecutive five-year terms . the lease term commenced in may 2008 , at which time the company began transferring the company 2019s costa rican operations to this facility . it is expected that this process will be complete by february 2009 . at the completion of the construction period , the company reviewed the lease for potential sale-leaseback treatment in accordance with asc 840 , subsection 40 , sale-leaseback transactions ( formerly sfas no . 98 ( 201csfas 98 201d ) , accounting for leases : sale-leaseback transactions involving real estate , sales-type leases of real estate , definition of the lease term , and initial direct costs of direct financing leases 2014an amendment of financial accounting standards board ( 201cfasb 201d ) statements no . 13 , 66 , and 91 and a rescission of fasb statement no . 26 and technical bulletin no . 79-11 ) . based on its analysis , the company determined that the lease did not qualify for sale-leaseback treatment . therefore , the building , leasehold improvements and associated liabilities will remain on the company 2019s financial statements throughout the lease term , and the building and leasehold improvements will be depreciated on a straight line basis over their estimated useful lives of 35 years . future minimum lease payments , including principal and interest , under this lease were as follows at september 26 , 2009: .
||amount|
|fiscal 2010|$ 1508|
|fiscal 2011|1561|
|fiscal 2012|1616|
|fiscal 2013|1672|
|fiscal 2014|1731|
|thereafter|7288|
|total minimum payments|15376|
|less-amount representing interest|-6094 ( 6094 )|
|total|$ 9282|
in addition , as a result of the merger with cytyc , the company assumed the obligation to a non-cancelable lease agreement for a building with approximately 146000 square feet located in marlborough , massachusetts , to be principally used as an additional manufacturing facility . in 2011 , the company will have an option to lease an additional 30000 square feet . as part of the lease agreement , the lessor agreed to allow the company to make significant renovations to the facility to prepare the facility for the company 2019s manufacturing needs . the company was responsible for a significant amount of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period in accordance with asc 840-40-15-5 . the $ 13200 fair market value of the facility is included within property and equipment , net on the consolidated balance sheet . at september 26 , 2009 , the company has recorded $ 982 in accrued expenses and source : hologic inc , 10-k , november 24 , 2009 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely . the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law . past financial performance is no guarantee of future results. .
Question: what portion of the total future minimum lease payments is due in the next 12 months?
Answer: | 0.09807 |
FINQA3542 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2014 ( continued ) note 12 2014related party transactions in the course of settling money transfer transactions , we purchase foreign currency from consultoria internacional casa de cambio ( 201ccisa 201d ) , a mexican company partially owned by certain of our employees . as of march 31 , 2008 , mr . ra fal lim f3n cortes , a 10% ( 10 % ) shareholder of cisa , was no longer an employee , and we no longer considered cisa a related party . we purchased 6.1 billion mexican pesos for $ 560.3 million during the ten months ended march 31 , 2008 and 8.1 billion mexican pesos for $ 736.0 million during fiscal 2007 from cisa . we believe these currency transactions were executed at prevailing market exchange rates . also from time to time , money transfer transactions are settled at destination facilities owned by cisa . we incurred related settlement expenses , included in cost of service in the accompanying consolidated statements of income of $ 0.5 million in the ten months ended march 31 , 2008 . in fiscal 2007 and 2006 , we incurred related settlement expenses , included in cost of service in the accompanying consolidated statements of income of $ 0.7 and $ 0.6 million , respectively . in the normal course of business , we periodically utilize the services of contractors to provide software development services . one of our employees , hired in april 2005 , is also an employee , officer , and part owner of a firm that provides such services . the services provided by this firm primarily relate to software development in connection with our planned next generation front-end processing system in the united states . during fiscal 2008 , we capitalized fees paid to this firm of $ 0.3 million . as of may 31 , 2008 and 2007 , capitalized amounts paid to this firm of $ 4.9 million and $ 4.6 million , respectively , were included in property and equipment in the accompanying consolidated balance sheets . in addition , we expensed amounts paid to this firm of $ 0.3 million , $ 0.1 million and $ 0.5 million in the years ended may 31 , 2008 , 2007 and 2006 , respectively . note 13 2014commitments and contingencies leases we conduct a major part of our operations using leased facilities and equipment . many of these leases have renewal and purchase options and provide that we pay the cost of property taxes , insurance and maintenance . rent expense on all operating leases for fiscal 2008 , 2007 and 2006 was $ 30.4 million , $ 27.1 million , and $ 24.4 million , respectively . future minimum lease payments for all noncancelable leases at may 31 , 2008 were as follows : operating leases .
||operating leases|
|2009|$ 22883|
|2010|16359|
|2011|11746|
|2012|5277|
|2013|3365|
|thereafter|7816|
|total future minimum lease payments|$ 67446|
we are party to a number of other claims and lawsuits incidental to our business . in the opinion of management , the reasonably possible outcome of such matters , individually or in the aggregate , will not have a material adverse impact on our financial position , liquidity or results of operations. .
Question: what percentage of the future lease payments is has to be paid in 2009?
Answer: | 0.33928 |
FINQA3543 | Please answer the given financial question based on the context.
Context: we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry . as such , we have no control over activities that could materially impact the fair value of the leased assets . we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies . additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase options are not considered to be potentially significant to the vies . the future minimum lease payments associated with the vie leases totaled $ 2.6 billion as of december 31 , 2015 . 17 . leases we lease certain locomotives , freight cars , and other property . the consolidated statements of financial position as of december 31 , 2015 and 2014 included $ 2273 million , net of $ 1189 million of accumulated depreciation , and $ 2454 million , net of $ 1210 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2015 , were as follows : millions operating leases capital leases .
|millions|operatingleases|capitalleases|
|2016|$ 491|$ 217|
|2017|446|220|
|2018|371|198|
|2019|339|184|
|2020|282|193|
|later years|1501|575|
|total minimum lease payments|$ 3430|$ 1587|
|amount representing interest|n/a|-319 ( 319 )|
|present value of minimum lease payments|n/a|$ 1268|
approximately 95% ( 95 % ) of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 590 million in 2015 , $ 593 million in 2014 , and $ 618 million in 2013 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant . 18 . commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries . we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity . to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated . we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use an actuarial analysis to measure the expense and liability , including unasserted claims . the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents . under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements . we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work . our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments . approximately 94% ( 94 % ) of the recorded liability is related to asserted claims and .
Question: in the consolidated statement of financial position what was the ratio of the properties held under capital leases in 2015 to 2014\\n
Answer: | 0.92624 |
FINQA3544 | Please answer the given financial question based on the context.
Context: individual loan before being modified as a tdr in the discounted cash flow analysis in order to determine that specific loan 2019s expected impairment . specifically , a loan that has a more severe delinquency history prior to modification will have a higher future default rate in the discounted cash flow analysis than a loan that was not as severely delinquent . for both of the one- to four-family and home equity loan portfolio segments , the pre- modification delinquency status , the borrower 2019s current credit score and other credit bureau attributes , in addition to each loan 2019s individual default experience and credit characteristics , are incorporated into the calculation of the specific allowance . a specific allowance is established to the extent that the recorded investment exceeds the discounted cash flows of a tdr with a corresponding charge to provision for loan losses . the specific allowance for these individually impaired loans represents the forecasted losses over the estimated remaining life of the loan , including the economic concession to the borrower . effects if actual results differ historic volatility in the credit markets has substantially increased the complexity and uncertainty involved in estimating the losses inherent in the loan portfolio . in the current market it is difficult to estimate how potential changes in the quantitative and qualitative factors , including the impact of home equity lines of credit converting from interest only to amortizing loans or requiring borrowers to repay the loan in full at the end of the draw period , might impact the allowance for loan losses . if our underlying assumptions and judgments prove to be inaccurate , the allowance for loan losses could be insufficient to cover actual losses . we may be required under such circumstances to further increase the provision for loan losses , which could have an adverse effect on the regulatory capital position and results of operations in future periods . during the normal course of conducting examinations , our banking regulators , the occ and federal reserve , continue to review our business and practices . this process is dynamic and ongoing and we cannot be certain that additional changes or actions will not result from their continuing review . valuation of goodwill and other intangible assets description goodwill and other intangible assets are evaluated for impairment on an annual basis as of november 30 and in interim periods when events or changes indicate the carrying value may not be recoverable , such as a significant deterioration in the operating environment or a decision to sell or dispose of a reporting unit . goodwill and other intangible assets net of amortization were $ 1.8 billion and $ 0.2 billion , respectively , at december 31 , 2013 . judgments goodwill is allocated to reporting units , which are components of the business that are one level below operating segments . reporting units are evaluated for impairment individually during the annual assessment . estimating the fair value of reporting units and the assets , liabilities and intangible assets of a reporting unit is a subjective process that involves the use of estimates and judgments , particularly related to cash flows , the appropriate discount rates and an applicable control premium . management judgment is required to assess whether the carrying value of the reporting unit can be supported by the fair value of the individual reporting unit . there are various valuation methodologies , such as the market approach or discounted cash flow methods , that may be used to estimate the fair value of reporting units . in applying these methodologies , we utilize a number of factors , including actual operating results , future business plans , economic projections , and market data . the following table shows the comparative data for the amount of goodwill allocated to our reporting units ( dollars in millions ) : .
|reporting unit|december 31 , 2013|december 31 , 2012|
|retail brokerage|$ 1791.8|$ 1791.8|
|market making|2014|142.4|
|total goodwill|$ 1791.8|$ 1934.2|
.
Question: as of december 31 , what was the ratio of the retail brokerage goodwill to the market making goodwill
Answer: | 12.58287 |
FINQA3545 | Please answer the given financial question based on the context.
Context: table of contents part ii , item 8 schlumberger limited ( schlumberger n.v. , incorporated in the netherlands antilles ) and subsidiary companies shares of common stock issued treasury shares outstanding .
||issued|in treasury|shares outstanding|
|balance january 1 2001|667085793|-94361099 ( 94361099 )|572724694|
|employee stock purchase plan|2013|1752833|1752833|
|shares granted to directors|2013|4800|4800|
|shares sold to optionees|8385|1399686|1408071|
|balance december 31 2001|667094178|-91203780 ( 91203780 )|575890398|
|employee stock purchase plan|2013|2677842|2677842|
|shares granted to directors|2013|3500|3500|
|shares sold to optionees|10490|2243400|2253890|
|acquisition of technoguide|2013|1347485|1347485|
|balance december 31 2002|667104668|-84931553 ( 84931553 )|582173115|
|employee stock purchase plan|2013|2464088|2464088|
|shares granted to directors|2013|3500|3500|
|shares sold to optionees|1320|1306305|1307625|
|balance december 31 2003|667105988|-81157660 ( 81157660 )|585948328|
see the notes to consolidated financial statements 39 / slb 2003 form 10-k .
Question: what was amount of shares issued to directors during the period?
Answer: | 11800.0 |
FINQA3546 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis 110 jpmorgan chase & co./2013 annual report 2012 compared with 2011 net loss was $ 2.0 billion , compared with a net income of $ 919 million in the prior year . private equity reported net income of $ 292 million , compared with net income of $ 391 million in the prior year . net revenue was $ 601 million , compared with $ 836 million in the prior year , due to lower unrealized and realized gains on private investments , partially offset by higher unrealized gains on public securities . noninterest expense was $ 145 million , down from $ 238 million in the prior year . treasury and cio reported a net loss of $ 2.1 billion , compared with net income of $ 1.3 billion in the prior year . net revenue was a loss of $ 3.1 billion , compared with net revenue of $ 3.2 billion in the prior year . the current year loss reflected $ 5.8 billion of losses incurred by cio from the synthetic credit portfolio for the six months ended june 30 , 2012 , and $ 449 million of losses from the retained index credit derivative positions for the three months ended september 30 , 2012 . these losses were partially offset by securities gains of $ 2.0 billion . the current year revenue reflected $ 888 million of extinguishment gains related to the redemption of trust preferred securities , which are included in all other income in the above table . the extinguishment gains were related to adjustments applied to the cost basis of the trust preferred securities during the period they were in a qualified hedge accounting relationship . net interest income was negative $ 683 million , compared with $ 1.4 billion in the prior year , primarily reflecting the impact of lower portfolio yields and higher deposit balances across the firm . other corporate reported a net loss of $ 221 million , compared with a net loss of $ 821 million in the prior year . noninterest revenue of $ 1.8 billion was driven by a $ 1.1 billion benefit for the washington mutual bankruptcy settlement , which is included in all other income in the above table , and a $ 665 million gain from the recovery on a bear stearns-related subordinated loan . noninterest expense of $ 3.8 billion was up $ 1.0 billion compared with the prior year . the current year included expense of $ 3.7 billion for additional litigation reserves , largely for mortgage-related matters . the prior year included expense of $ 3.2 billion for additional litigation reserves . treasury and cio overview treasury and cio are predominantly responsible for measuring , monitoring , reporting and managing the firm 2019s liquidity , funding and structural interest rate and foreign exchange risks , as well as executing the firm 2019s capital plan . the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases , which generate both on- and off-balance sheet assets and liabilities . cio achieves the firm 2019s asset-liability management objectives generally by investing in high-quality securities that are managed for the longer-term as part of the firm 2019s afs and htm investment securities portfolios ( the 201cinvestment securities portfolio 201d ) . cio also uses derivatives , as well as securities that are not classified as afs or htm , to meet the firm 2019s asset-liability management objectives . for further information on derivatives , see note 6 on pages 220 2013233 of this annual report . for further information about securities not classified within the afs or htm portfolio , see note 3 on pages 195 2013215 of this annual report . the treasury and cio investment securities portfolio primarily consists of u.s . and non-u.s . government securities , agency and non-agency mortgage-backed securities , other asset-backed securities , corporate debt securities and obligations of u.s . states and municipalities . at december 31 , 2013 , the total treasury and cio investment securities portfolio was $ 347.6 billion ; the average credit rating of the securities comprising the treasury and cio investment securities portfolio was aa+ ( based upon external ratings where available and where not available , based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s ) . see note 12 on pages 249 2013254 of this annual report for further information on the details of the firm 2019s investment securities portfolio . for further information on liquidity and funding risk , see liquidity risk management on pages 168 2013173 of this annual report . for information on interest rate , foreign exchange and other risks , treasury and cio value-at-risk ( 201cvar 201d ) and the firm 2019s structural interest rate-sensitive revenue at risk , see market risk management on pages 142 2013148 of this annual report . selected income statement and balance sheet data as of or for the year ended december 31 , ( in millions ) 2013 2012 2011 .
|as of or for the year ended december 31 ( in millions )|2013|2012|2011|
|securities gains|$ 659|$ 2028|$ 1385|
|investment securities portfolio ( average )|353712|358029|330885|
|investment securities portfolio ( period 2013end ) ( a )|347562|365421|355605|
|mortgage loans ( average )|5145|10241|13006|
|mortgage loans ( period-end )|3779|7037|13375|
( a ) period-end investment securities included held-to-maturity balance of $ 24.0 billion at december 31 , 2013 . held-to-maturity balances for the other periods were not material. .
Question: what was the percentage increase in litigation reserves in 2012?
Answer: | 0.15625 |
FINQA3547 | Please answer the given financial question based on the context.
Context: consumer foods net sales decreased $ 94 million for the year to $ 6.5 billion . sales volume declined by 1% ( 1 % ) in fiscal 2006 , principally due to declines in certain shelf stable brands . sales of the company 2019s top thirty brands , which represented approximately 83% ( 83 % ) of total segment sales during fiscal 2006 , were flat as a group , as sales of some of the company 2019s most significant brands , including chef boyardee ae , marie callender 2019s ae , orville redenbacher 2019s ae , slim jim ae , hebrew national ae , kid cuisine ae , reddi-wip ae , vancamp ae , libby 2019s ae , lachoy ae , the max ae , manwich ae , david 2019s ae , ro*tel ae , angela mia ae , and mama rosa ae grew in fiscal 2006 , but were largely offset by sales declines for the year for hunt 2019s ae , wesson ae , act ii ae , snack pack ae , swiss miss ae , pam ae , egg beaters ae , blue bonnet ae , parkay ae , and rosarita ae . food and ingredients net sales increased $ 203 million to $ 3.2 billion , primarily reflecting price increases driven by higher input costs for potato , wheat milling , and dehydrated vegetable operations . net sales were also impacted , to a lesser degree , by a 4% ( 4 % ) increase in potato products volume compared to the prior year . trading and merchandising net sales decreased $ 38 million to $ 1.2 billion . the decrease resulted principally from lower grain and edible bean merchandising volume resulting from the divestment or closure of various locations . international foods net sales increased $ 27 million to $ 603 million . the strengthening of foreign currencies relative to the u.s . dollar accounted for $ 24 million of the increase . overall volume growth was modest as the 10% ( 10 % ) volume growth from the top six international brands ( orville redenbacher 2019s ae , act ii ae , snack pack ae , chef boyardee ae , hunt 2019s ae , and pam ae ) , which account for 55% ( 55 % ) of total segment sales , was offset by sales declines related to the discontinuance of a number of low margin products . gross profit ( net sales less cost of goods sold ) ( $ in millions ) reporting segment fiscal 2006 gross profit fiscal 2005 gross profit % ( % ) increase/ ( decrease ) .
|reporting segment|fiscal 2006 gross profit|fiscal 2005 gross profit|% ( % ) increase/ ( decrease )|
|consumer foods|$ 1842|$ 1890|( 3 ) % ( % )|
|food and ingredients|538|512|5% ( 5 % )|
|trading and merchandising|278|282|( 1 ) % ( % )|
|international foods|165|150|10% ( 10 % )|
|total|$ 2823|$ 2834|2014% ( 2014 % )|
the company 2019s gross profit for fiscal 2006 was $ 2.8 billion , a decrease of $ 11 million from the prior year , as improvements in the foods and ingredients and international foods segments were more than offset by declines in the consumer foods and trading and merchandising segments . gross profit includes $ 20 million of costs associated with the company 2019s restructuring plans in fiscal 2006 , and $ 17 million of costs incurred to implement the company 2019s operational efficiency initiatives in fiscal 2005 . consumer foods gross profit for fiscal 2006 was $ 1.8 billion , a decrease of $ 48 million from fiscal 2005 , driven principally by a 2% ( 2 % ) decline in sales volumes . fiscal 2006 gross profit includes $ 20 million of costs related to the company 2019s restructuring plan , and fiscal 2005 gross profit includes $ 16 million of costs related to implementing the company 2019s operational efficiency initiatives . gross profit was negatively impacted by increased costs of fuel and energy , transportation and warehousing , steel , and other packaging materials in both fiscal 2006 and 2005 . food and ingredients gross profit for fiscal 2006 was $ 538 million , an increase of $ 26 million over the prior year . the gross profit improvement was driven almost entirely by the vegetable processing and dehydration businesses ( including potatoes , garlic , onions , and chili peppers ) as a result of higher volume ( both domestic and export ) , increased value-added sales mix and pricing improvements partially offset by higher raw product and conversion costs. .
Question: what percentage of total gross profit was due to food and ingredients in fiscal 2006?
Answer: | 0.19058 |
FINQA3548 | Please answer the given financial question based on the context.
Context: value , which may be maturity , the company does not consider these investments to be other-than-temporarily impaired as of december 31 , 2005 and 2004 . gross realized gains and losses for 2005 were $ 15000 and $ 75000 , respectively . gross realized gains and losses for 2004 were $ 628000 and $ 205000 , respectively . gross realized gains for 2003 were $ 1249000 . there were no gross realized losses for 2003 . maturities stated are effective maturities . f . restricted cash at december 31 , 2005 and 2004 , the company held $ 41482000 and $ 49847000 , respectively , in restricted cash . at december 31 , 2005 and 2004 the balance was held in deposit with certain banks predominantly to collateralize conditional stand-by letters of credit in the names of the company's landlords pursuant to certain operating lease agreements . g . property and equipment property and equipment consist of the following at december 31 ( in thousands ) : depreciation expense for the years ended december 31 , 2005 , 2004 and 2003 was $ 26307000 , $ 28353000 and $ 27988000 respectively . in 2005 and 2004 , the company wrote off certain assets that were fully depreciated and no longer utilized . there was no effect on the company's net property and equipment . additionally , the company wrote off or sold certain assets that were not fully depreciated . the net loss on disposal of those assets was $ 344000 for 2005 and $ 43000 for 2004 . h . investments in accordance with the company's policy , as outlined in note b , "accounting policies" the company assessed its investment in altus pharmaceuticals , inc . ( "altus" ) , which it accounts for using the cost method , and determined that there had not been any adjustments to the fair values of that investment which would indicate a decrease in its fair value below the carrying value that would require the company to write down the investment basis of the asset , as of december 31 , 2005 and december 31 , 2004 . the company's cost basis carrying value in its outstanding equity and warrants of altus was $ 18863000 at december 31 , 2005 and 2004. .
||2005|2004|
|furniture and equipment|$ 98387|$ 90893|
|leasehold improvements|66318|65294|
|computers|18971|18421|
|software|18683|16411|
|total property and equipment gross|202359|191019|
|less accumulated depreciation and amortization|147826|126794|
|total property and equipment net|$ 54533|$ 64225|
.
Question: what is the percent change in net loss on disposal of assets between 2004 and 2005?
Answer: | 7.0 |
FINQA3549 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements jpmorgan chase & co./2009 annual report 204 on the amount of interest income recognized in the firm 2019s consolidated statements of income since that date . ( b ) other changes in expected cash flows include the net impact of changes in esti- mated prepayments and reclassifications to the nonaccretable difference . on a quarterly basis , the firm updates the amount of loan principal and interest cash flows expected to be collected , incorporating assumptions regarding default rates , loss severities , the amounts and timing of prepayments and other factors that are reflective of current market conditions . probable decreases in expected loan principal cash flows trigger the recognition of impairment , which is then measured as the present value of the expected principal loss plus any related foregone interest cash flows discounted at the pool 2019s effective interest rate . impairments that occur after the acquisition date are recognized through the provision and allow- ance for loan losses . probable and significant increases in expected principal cash flows would first reverse any previously recorded allowance for loan losses ; any remaining increases are recognized prospectively as interest income . the impacts of ( i ) prepayments , ( ii ) changes in variable interest rates , and ( iii ) any other changes in the timing of expected cash flows are recognized prospectively as adjustments to interest income . disposals of loans , which may include sales of loans , receipt of payments in full by the borrower , or foreclosure , result in removal of the loan from the purchased credit-impaired portfolio . if the timing and/or amounts of expected cash flows on these purchased credit-impaired loans were determined not to be rea- sonably estimable , no interest would be accreted and the loans would be reported as nonperforming loans ; however , since the timing and amounts of expected cash flows for these purchased credit-impaired loans are reasonably estimable , interest is being accreted and the loans are being reported as performing loans . charge-offs are not recorded on purchased credit-impaired loans until actual losses exceed the estimated losses that were recorded as purchase accounting adjustments at acquisition date . to date , no charge-offs have been recorded for these loans . purchased credit-impaired loans acquired in the washington mu- tual transaction are reported in loans on the firm 2019s consolidated balance sheets . in 2009 , an allowance for loan losses of $ 1.6 billion was recorded for the prime mortgage and option arm pools of loans . the net aggregate carrying amount of the pools that have an allowance for loan losses was $ 47.2 billion at december 31 , 2009 . this allowance for loan losses is reported as a reduction of the carrying amount of the loans in the table below . the table below provides additional information about these pur- chased credit-impaired consumer loans. .
|december 31 ( in millions )|2009|2008|
|outstanding balance ( a )|$ 103369|$ 118180|
|carrying amount|79664|88813|
( a ) represents the sum of contractual principal , interest and fees earned at the reporting date . purchased credit-impaired loans are also being modified under the mha programs and the firm 2019s other loss mitigation programs . for these loans , the impact of the modification is incorporated into the firm 2019s quarterly assessment of whether a probable and/or signifi- cant change in estimated future cash flows has occurred , and the loans continue to be accounted for as and reported as purchased credit-impaired loans . foreclosed property the firm acquires property from borrowers through loan restructur- ings , workouts , and foreclosures , which is recorded in other assets on the consolidated balance sheets . property acquired may include real property ( e.g. , land , buildings , and fixtures ) and commercial and personal property ( e.g. , aircraft , railcars , and ships ) . acquired property is valued at fair value less costs to sell at acquisition . each quarter the fair value of the acquired property is reviewed and adjusted , if necessary . any adjustments to fair value in the first 90 days are charged to the allowance for loan losses and thereafter adjustments are charged/credited to noninterest revenue 2013other . operating expense , such as real estate taxes and maintenance , are charged to other expense . note 14 2013 allowance for credit losses the allowance for loan losses includes an asset-specific component , a formula-based component and a component related to purchased credit-impaired loans . the asset-specific component relates to loans considered to be impaired , which includes any loans that have been modified in a troubled debt restructuring as well as risk-rated loans that have been placed on nonaccrual status . an asset-specific allowance for impaired loans is established when the loan 2019s discounted cash flows ( or , when available , the loan 2019s observable market price ) is lower than the recorded investment in the loan . to compute the asset-specific component of the allowance , larger loans are evaluated individually , while smaller loans are evaluated as pools using historical loss experience for the respective class of assets . risk-rated loans ( primarily wholesale loans ) are pooled by risk rating , while scored loans ( i.e. , consumer loans ) are pooled by product type . the firm generally measures the asset-specific allowance as the difference between the recorded investment in the loan and the present value of the cash flows expected to be collected , dis- counted at the loan 2019s original effective interest rate . subsequent changes in measured impairment due to the impact of discounting are reported as an adjustment to the provision for loan losses , not as an adjustment to interest income . an asset-specific allowance for an impaired loan with an observable market price is measured as the difference between the recorded investment in the loan and the loan 2019s fair value . certain impaired loans that are determined to be collateral- dependent are charged-off to the fair value of the collateral less costs to sell . when collateral-dependent commercial real-estate loans are determined to be impaired , updated appraisals are typi- cally obtained and updated every six to twelve months . the firm also considers both borrower- and market-specific factors , which .
Question: what was the firm's average sum of contractual principal , interest and fees in 2008 and 2009?
Answer: | 110774.5 |
FINQA3550 | Please answer the given financial question based on the context.
Context: table of contents hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) location during fiscal 2009 . the company was responsible for a significant portion of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period , in accordance with asc 840 , leases , subsection 40-15-5 . during the year ended september 27 , 2008 , the company recorded an additional $ 4400 in fair market value of the building , which was completed in fiscal 2008 . this is in addition to the $ 3000 fair market value of the land and the $ 7700 fair market value related to the building constructed that cytyc had recorded as of october 22 , 2007 . the company has recorded such fair market value within property and equipment on its consolidated balance sheets . at september 26 , 2009 , the company has recorded $ 1508 in accrued expenses and $ 16329 in other long-term liabilities related to this obligation in the consolidated balance sheet . the term of the lease is for a period of approximately ten years with the option to extend for two consecutive five-year terms . the lease term commenced in may 2008 , at which time the company began transferring the company 2019s costa rican operations to this facility . it is expected that this process will be complete by february 2009 . at the completion of the construction period , the company reviewed the lease for potential sale-leaseback treatment in accordance with asc 840 , subsection 40 , sale-leaseback transactions ( formerly sfas no . 98 ( 201csfas 98 201d ) , accounting for leases : sale-leaseback transactions involving real estate , sales-type leases of real estate , definition of the lease term , and initial direct costs of direct financing leases 2014an amendment of financial accounting standards board ( 201cfasb 201d ) statements no . 13 , 66 , and 91 and a rescission of fasb statement no . 26 and technical bulletin no . 79-11 ) . based on its analysis , the company determined that the lease did not qualify for sale-leaseback treatment . therefore , the building , leasehold improvements and associated liabilities will remain on the company 2019s financial statements throughout the lease term , and the building and leasehold improvements will be depreciated on a straight line basis over their estimated useful lives of 35 years . future minimum lease payments , including principal and interest , under this lease were as follows at september 26 , 2009: .
||amount|
|fiscal 2010|$ 1508|
|fiscal 2011|1561|
|fiscal 2012|1616|
|fiscal 2013|1672|
|fiscal 2014|1731|
|thereafter|7288|
|total minimum payments|15376|
|less-amount representing interest|-6094 ( 6094 )|
|total|$ 9282|
in addition , as a result of the merger with cytyc , the company assumed the obligation to a non-cancelable lease agreement for a building with approximately 146000 square feet located in marlborough , massachusetts , to be principally used as an additional manufacturing facility . in 2011 , the company will have an option to lease an additional 30000 square feet . as part of the lease agreement , the lessor agreed to allow the company to make significant renovations to the facility to prepare the facility for the company 2019s manufacturing needs . the company was responsible for a significant amount of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period in accordance with asc 840-40-15-5 . the $ 13200 fair market value of the facility is included within property and equipment , net on the consolidated balance sheet . at september 26 , 2009 , the company has recorded $ 982 in accrued expenses and source : hologic inc , 10-k , november 24 , 2009 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely . the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law . past financial performance is no guarantee of future results. .
Question: what portion of the total minimum payment is related to interest?
Answer: | 0.39633 |
FINQA3551 | Please answer the given financial question based on the context.
Context: as of december 31 , 2014 and 2013 , our liabilities associated with unrecognized tax benefits are not material . we and our subsidiaries file income tax returns in the u.s . federal jurisdiction and various foreign jurisdictions . with few exceptions , the statute of limitations is no longer open for u.s . federal or non-u.s . income tax examinations for the years before 2011 , other than with respect to refunds . u.s . income taxes and foreign withholding taxes have not been provided on earnings of $ 291 million , $ 222 million and $ 211 million that have not been distributed by our non-u.s . companies as of december 31 , 2014 , 2013 and 2012 . our intention is to permanently reinvest these earnings , thereby indefinitely postponing their remittance to the u.s . if these earnings had been remitted , we estimate that the additional income taxes after foreign tax credits would have been approximately $ 55 million in 2014 , $ 50 million in 2013 and $ 45 million in 2012 . our federal and foreign income tax payments , net of refunds received , were $ 1.5 billion in 2014 , $ 787 million in 2013 and $ 890 million in 2012 . our 2014 and 2013 net payments reflect a $ 200 million and $ 550 million refund from the irs primarily attributable to our tax-deductible discretionary pension contributions during the fourth quarters of 2013 and 2012 , and our 2012 net payments reflect a $ 153 million refund from the irs related to a 2011 capital loss carryback . note 8 2013 debt our long-term debt consisted of the following ( in millions ) : .
||2014|2013|
|notes with rates from 2.13% ( 2.13 % ) to 6.15% ( 6.15 % ) due 2016 to 2042|$ 5642|$ 5642|
|notes with rates from 7.00% ( 7.00 % ) to 7.75% ( 7.75 % ) due 2016 to 2036|916|916|
|other debt|483|476|
|total long-term debt|7041|7034|
|less : unamortized discounts|-872 ( 872 )|-882 ( 882 )|
|total long-term debt net|$ 6169|$ 6152|
in august 2014 , we entered into a new $ 1.5 billion revolving credit facility with a syndicate of banks and concurrently terminated our existing $ 1.5 billion revolving credit facility which was scheduled to expire in august 2016 . the new credit facility expires august 2019 and we may request and the banks may grant , at their discretion , an increase to the new credit facility of up to an additional $ 500 million . the credit facility also includes a sublimit of up to $ 300 million available for the issuance of letters of credit . there were no borrowings outstanding under the new facility through december 31 , 2014 . borrowings under the new credit facility would be unsecured and bear interest at rates based , at our option , on a eurodollar rate or a base rate , as defined in the new credit facility . each bank 2019s obligation to make loans under the credit facility is subject to , among other things , our compliance with various representations , warranties and covenants , including covenants limiting our ability and certain of our subsidiaries 2019 ability to encumber assets and a covenant not to exceed a maximum leverage ratio , as defined in the credit facility . the leverage ratio covenant excludes the adjustments recognized in stockholders 2019 equity related to postretirement benefit plans . as of december 31 , 2014 , we were in compliance with all covenants contained in the credit facility , as well as in our debt agreements . we have agreements in place with financial institutions to provide for the issuance of commercial paper . there were no commercial paper borrowings outstanding during 2014 or 2013 . if we were to issue commercial paper , the borrowings would be supported by the credit facility . in april 2013 , we repaid $ 150 million of long-term notes with a fixed interest rate of 7.38% ( 7.38 % ) due to their scheduled maturities . during the next five years , we have scheduled long-term debt maturities of $ 952 million due in 2016 and $ 900 million due in 2019 . interest payments were $ 326 million in 2014 , $ 340 million in 2013 and $ 378 million in 2012 . all of our existing unsecured and unsubordinated indebtedness rank equally in right of payment . note 9 2013 postretirement plans defined benefit pension plans and retiree medical and life insurance plans many of our employees are covered by qualified defined benefit pension plans and we provide certain health care and life insurance benefits to eligible retirees ( collectively , postretirement benefit plans ) . we also sponsor nonqualified defined benefit pension plans to provide for benefits in excess of qualified plan limits . non-union represented employees hired after december 2005 do not participate in our qualified defined benefit pension plans , but are eligible to participate in a qualified .
Question: what was the percentage change in total long-term debt net between 2013 and 2014?
Answer: | 0.00276 |
FINQA3552 | Please answer the given financial question based on the context.
Context: assets measured and recorded at fair value on a non-recurring basis our non-marketable equity securities , equity method investments , and certain non-financial assets , such as intangible assets and property , plant and equipment , are recorded at fair value only if an impairment or observable price adjustment is recognized in the current period . if an impairment or observable price adjustment is recognized on our non-marketable equity securities during the period , we classify these assets as level 3 within the fair value hierarchy based on the nature of the fair value inputs . we classified non-marketable equity securities and non-marketable equity method investments as level 3 . impairments recognized on these investments held as of december 29 , 2018 were $ 416 million ( $ 537 million held as of december 30 , 2017 and $ 153 million held as of december 31 , 2016 ) . financial instruments not recorded at fair value on a recurring basis financial instruments not recorded at fair value on a recurring basis include non-marketable equity securities and equity method investments that have not been remeasured or impaired in the current period , grants receivable , loans receivable , reverse repurchase agreements , and our short-term and long-term debt . prior to the adoption of the new financial instrument standard , our non-marketable cost method investments were disclosed at fair value on a recurring basis . the carrying amount and fair value of our non-marketable cost method investments as of december 30 , 2017 were $ 2.6 billion and $ 3.6 billion , respectively . these measures are classified as level 3 within the fair value hierarchy based on the nature of the fair value inputs . as of december 29 , 2018 , the aggregate carrying value of grants receivable , loans receivable , and reverse repurchase agreements was $ 833 million ( the aggregate carrying amount as of december 30 , 2017 was $ 935 million ) . the estimated fair value of these financial instruments approximates their carrying value and is categorized as level 2 within the fair value hierarchy based on the nature of the fair value inputs . for information related to the fair value of our short-term and long-term debt , see 201cnote 15 : borrowings . 201d note 17 : other comprehensive income ( loss ) the changes in accumulated other comprehensive income ( loss ) by component and related tax effects for each period were as follows : ( in millions ) unrealized holding ( losses ) on available-for -sale equity investments unrealized holding ( losses ) on derivatives actuarial valuation and other pension expenses translation adjustments and other total .
|( in millions )|unrealized holding gains ( losses ) on available-for-sale equity investments|unrealized holding gains ( losses ) on derivatives|actuarial valuation and other pension expenses|translation adjustments and other|total|
|december 31 2016|$ 2179|$ -259 ( 259 )|$ -1280 ( 1280 )|$ -534 ( 534 )|$ 106|
|other comprehensive income ( loss ) before reclassifications|2765|605|275|-2 ( 2 )|3643|
|amounts reclassified out of accumulated other comprehensive income ( loss )|-3433 ( 3433 )|-69 ( 69 )|103|509|-2890 ( 2890 )|
|tax effects|234|-171 ( 171 )|-61 ( 61 )|1|3|
|other comprehensive income ( loss )|-434 ( 434 )|365|317|508|756|
|december 30 2017|1745|106|-963 ( 963 )|-26 ( 26 )|862|
|impact of change in accounting standards|-1745 ( 1745 )|24|-65 ( 65 )|-4 ( 4 )|-1790 ( 1790 )|
|opening balance as of december 31 2017|2014|130|-1028 ( 1028 )|-30 ( 30 )|-928 ( 928 )|
|other comprehensive income ( loss ) before reclassifications|2014|-310 ( 310 )|157|-16 ( 16 )|-169 ( 169 )|
|amounts reclassified out of accumulated other comprehensive income ( loss )|2014|9|109|8|126|
|tax effects|2014|48|-56 ( 56 )|5|-3 ( 3 )|
|other comprehensive income ( loss )|2014|-253 ( 253 )|210|-3 ( 3 )|-46 ( 46 )|
|december 29 2018|$ 2014|$ -123 ( 123 )|$ -818 ( 818 )|$ -33 ( 33 )|$ -974 ( 974 )|
financial statements notes to financial statements 97 .
Question: what is the net change in the accumulated other comprehensive income during 2017?
Answer: | 756.0 |
FINQA3553 | Please answer the given financial question based on the context.
Context: masco corporation notes to consolidated financial statements ( continued ) o . segment information ( continued ) ( 1 ) included in net sales were export sales from the u.s . of $ 229 million , $ 241 million and $ 246 million in 2012 , 2011 and 2010 , respectively . ( 2 ) excluded from net sales were intra-company sales between segments of approximately two percent of net sales in each of 2012 , 2011 and 2010 . ( 3 ) included in net sales were sales to one customer of $ 2143 million , $ 1984 million and $ 1993 million in 2012 , 2011 and 2010 , respectively . such net sales were included in the following segments : cabinets and related products , plumbing products , decorative architectural products and other specialty products . ( 4 ) net sales from the company 2019s operations in the u.s . were $ 5793 million , $ 5394 million and $ 5618 million in 2012 , 2011 and 2010 , respectively . ( 5 ) net sales , operating ( loss ) profit , property additions and depreciation and amortization expense for 2012 , 2011 and 2010 excluded the results of businesses reported as discontinued operations in 2012 , 2011 and 2010 . ( 6 ) included in segment operating profit ( loss ) for 2012 was an impairment charge for other intangible assets as follows : other specialty products 2013 $ 42 million . included in segment operating ( loss ) profit for 2011 were impairment charges for goodwill and other intangible assets as follows : cabinets and related products 2013 $ 44 million ; plumbing products 2013 $ 1 million ; decorative architectural products 2013 $ 75 million ; and other specialty products 2013 $ 374 million . included in segment operating ( loss ) profit for 2010 were impairment charges for goodwill and other intangible assets as follows : plumbing products 2013 $ 1 million ; and installation and other services 2013 $ 697 million . ( 7 ) general corporate expense , net included those expenses not specifically attributable to the company 2019s segments . ( 8 ) the charge for litigation settlement , net in 2012 primarily relates to a business in the installation and other services segment and in 2011 relates to business units in the cabinets and related products and the other specialty products segments . ( 9 ) long-lived assets of the company 2019s operations in the u.s . and europe were $ 2795 million and $ 567 million , $ 2964 million and $ 565 million , and $ 3684 million and $ 617 million at december 31 , 2012 , 2011 and 2010 , respectively . ( 10 ) segment assets for 2012 and 2011 excluded the assets of businesses reported as discontinued operations in the respective years . p . severance costs as part of the company 2019s continuing review of its operations , actions were taken during 2012 , 2011 and 2010 to respond to market conditions . the company recorded charges related to severance and early retirement programs of $ 36 million , $ 17 million and $ 14 million for the years ended december 31 , 2012 , 2011 and 2010 , respectively . such charges are principally reflected in the statement of operations in selling , general and administrative expenses and were paid when incurred . q . other income ( expense ) , net other , net , which is included in other income ( expense ) , net , was as follows , in millions: .
||2012|2011|2010|
|income from cash and cash investments|$ 6|$ 8|$ 6|
|other interest income|1|1|1|
|income from financial investments net ( note e )|24|73|9|
|other items net|-4 ( 4 )|-5 ( 5 )|-9 ( 9 )|
|total other net|$ 27|$ 77|$ 7|
other items , net , included realized foreign currency transaction losses of $ 2 million , $ 5 million and $ 2 million in 2012 , 2011 and 2010 , respectively , as well as other miscellaneous items. .
Question: what was the percent of the increase in the company recorded charges related to severance and early retirement programs from 2011 to 2012
Answer: | 1.11765 |
FINQA3554 | Please answer the given financial question based on the context.
Context: as of december a031 , 2017 , system energy , in connection with the grand gulf sale and leaseback transactions , had future minimum lease payments ( reflecting an implicit rate of 5.13% ( 5.13 % ) ) that are recorded as long-term debt , as follows : amount ( in thousands ) .
||amount ( in thousands )|
|2018|$ 17188|
|2019|17188|
|2020|17188|
|2021|17188|
|2022|17188|
|years thereafter|240625|
|total|326565|
|less : amount representing interest|292209|
|present value of net minimum lease payments|$ 34356|
entergy corporation and subsidiaries notes to financial statements note 11 . a0 retirement , other postretirement benefits , and defined contribution plans a0 a0 ( entergy corporation , entergy arkansas , entergy louisiana , entergy mississippi , entergy new orleans , entergy texas , and system energy ) qualified pension plans entergy has eight qualified pension plans covering substantially all employees . the entergy corporation retirement plan for non-bargaining employees ( non-bargaining plan i ) , the entergy corporation retirement plan for bargaining employees ( bargaining plan i ) , the entergy corporation retirement plan ii for non-bargaining employees ( non-bargaining plan ii ) , the entergy corporation retirement plan ii for bargaining employees , the entergy corporation retirement plan iii , and the entergy corporation retirement plan iv for bargaining employees a0are non-contributory final average pay plans and provide pension benefits that are based on employees 2019 credited service and compensation during employment . effective as of the close of business on december 31 , 2016 , the entergy corporation retirement plan iv for non-bargaining employees ( non-bargaining plan iv ) was merged with and into non-bargaining plan ii . at the close of business on december 31 , 2016 , the liabilities for the accrued benefits and the assets attributable to such liabilities of all participants in non-bargaining plan iv were assumed by and transferred to non-bargaining plan ii . there was no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger . non-bargaining employees whose most recent date of hire is after june 30 , 2014 participate in the entergy corporation cash balance plan for non-bargaining employees ( non-bargaining cash balance plan ) . certain bargaining employees hired or rehired after june 30 , 2014 , or such later date provided for in their applicable collective bargaining agreements , participate in the entergy corporation cash balance plan for bargaining employees ( bargaining cash balance plan ) . the registrant subsidiaries participate in these four plans : non-bargaining plan i , bargaining plan i , non-bargaining cash balance plan , and bargaining cash balance plan . the assets of the six final average pay qualified pension plans are held in a master trust established by entergy , and the assets of the two cash balance pension plans are held in a second master trust established by entergy . a0 a0each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee . a0 a0use of the master trusts permits the commingling of the trust assets of the pension plans of entergy corporation and its registrant subsidiaries for investment and administrative purposes . a0 a0although assets in the master trusts are commingled , the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings ( loss ) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust . a0 a0the fair value of the trusts 2019 assets is determined by the trustee and certain investment managers . a0 a0for each trust , the trustee calculates a daily earnings factor , including realized and .
Question: what is the present value of net minimum lease payments as a percentage of the total future minimum lease payments ?
Answer: | 0.1052 |
FINQA3555 | 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 contractual cash obligations are from long term debt?
Answer: | 0.83411 |
FINQA3556 | Please answer the given financial question based on the context.
Context: sources of liquidity primary sources of liquidity for citigroup and its principal subsidiaries include : 2022 deposits ; 2022 collateralized financing transactions ; 2022 senior and subordinated debt ; 2022 commercial paper ; 2022 trust preferred and preferred securities ; and 2022 purchased/wholesale funds . citigroup 2019s funding sources are diversified across funding types and geography , a benefit of its global franchise . funding for citigroup and its major operating subsidiaries includes a geographically diverse retail and corporate deposit base of $ 774.2 billion . these deposits are diversified across products and regions , with approximately two-thirds of them outside of the u.s . this diversification provides the company with an important , stable and low-cost source of funding . a significant portion of these deposits has been , and is expected to be , long-term and stable , and are considered to be core . there are qualitative as well as quantitative assessments that determine the company 2019s calculation of core deposits . the first step in this process is a qualitative assessment of the deposits . for example , as a result of the company 2019s qualitative analysis certain deposits with wholesale funding characteristics are excluded from consideration as core . deposits that qualify under the company 2019s qualitative assessments are then subjected to quantitative analysis . excluding the impact of changes in foreign exchange rates and the sale of our retail banking operations in germany during the year ending december 31 , 2008 , the company 2019s deposit base remained stable . on a volume basis , deposit increases were noted in transaction services , u.s . retail banking and smith barney . this was partially offset by the company 2019s decision to reduce deposits considered wholesale funding , consistent with the company 2019s de-leveraging efforts , and declines in international consumer banking and the private bank . citigroup and its subsidiaries have historically had a significant presence in the global capital markets . the company 2019s capital markets funding activities have been primarily undertaken by two legal entities : ( i ) citigroup inc. , which issues long-term debt , medium-term notes , trust preferred securities , and preferred and common stock ; and ( ii ) citigroup funding inc . ( cfi ) , a first-tier subsidiary of citigroup , which issues commercial paper , medium-term notes and structured equity-linked and credit-linked notes , all of which are guaranteed by citigroup . other significant elements of long- term debt on the consolidated balance sheet include collateralized advances from the federal home loan bank system , long-term debt related to the consolidation of icg 2019s structured investment vehicles , asset-backed outstandings , and certain borrowings of foreign subsidiaries . each of citigroup 2019s major operating subsidiaries finances its operations on a basis consistent with its capitalization , regulatory structure and the environment in which it operates . particular attention is paid to those businesses that for tax , sovereign risk , or regulatory reasons cannot be freely and readily funded in the international markets . citigroup 2019s borrowings have historically been diversified by geography , investor , instrument and currency . decisions regarding the ultimate currency and interest rate profile of liquidity generated through these borrowings can be separated from the actual issuance through the use of derivative instruments . citigroup is a provider of liquidity facilities to the commercial paper programs of the two primary credit card securitization trusts with which it transacts . citigroup may also provide other types of support to the trusts . as a result of the recent economic downturn , its impact on the cashflows of the trusts , and in response to credit rating agency reviews of the trusts , the company increased the credit enhancement in the omni trust , and plans to provide additional enhancement to the master trust ( see note 23 to consolidated financial statements on page 175 for a further discussion ) . this support preserves investor sponsorship of our card securitization franchise , an important source of liquidity . banking subsidiaries there are various legal limitations on the ability of citigroup 2019s subsidiary depository institutions to extend credit , pay dividends or otherwise supply funds to citigroup and its non-bank subsidiaries . the approval of the office of the comptroller of the currency , in the case of national banks , or the office of thrift supervision , in the case of federal savings banks , is required if total dividends declared in any calendar year exceed amounts specified by the applicable agency 2019s regulations . state-chartered depository institutions are subject to dividend limitations imposed by applicable state law . in determining the declaration of dividends , each depository institution must also consider its effect on applicable risk-based capital and leverage ratio requirements , as well as policy statements of the federal regulatory agencies that indicate that banking organizations should generally pay dividends out of current operating earnings . non-banking subsidiaries citigroup also receives dividends from its non-bank subsidiaries . these non-bank subsidiaries are generally not subject to regulatory restrictions on dividends . however , as discussed in 201ccapital resources and liquidity 201d on page 94 , the ability of cgmhi to declare dividends can be restricted by capital considerations of its broker-dealer subsidiaries . cgmhi 2019s consolidated balance sheet is liquid , with the vast majority of its assets consisting of marketable securities and collateralized short-term financing agreements arising from securities transactions . cgmhi monitors and evaluates the adequacy of its capital and borrowing base on a daily basis to maintain liquidity and to ensure that its capital base supports the regulatory capital requirements of its subsidiaries . some of citigroup 2019s non-bank subsidiaries , including cgmhi , have credit facilities with citigroup 2019s subsidiary depository institutions , including citibank , n.a . borrowings under these facilities must be secured in accordance with section 23a of the federal reserve act . there are various legal restrictions on the extent to which a bank holding company and certain of its non-bank subsidiaries can borrow or obtain credit from citigroup 2019s subsidiary depository institutions or engage in certain other transactions with them . in general , these restrictions require that transactions be on arm 2019s length terms and be secured by designated amounts of specified collateral . see note 20 to the consolidated financial statements on page 169 . at december 31 , 2008 , long-term debt and commercial paper outstanding for citigroup , cgmhi , cfi and citigroup 2019s subsidiaries were as follows : in billions of dollars citigroup parent company cgmhi ( 2 ) citigroup funding inc . ( 2 ) citigroup subsidiaries long-term debt $ 192.3 $ 20.6 $ 37.4 $ 109.3 ( 1 ) .
|in billions of dollars|citigroup parent company|cgmhi ( 2 )|citigroup funding inc. ( 2 )|other citigroup subsidiaries||
|long-term debt|$ 192.3|$ 20.6|$ 37.4|$ 109.3|-1 ( 1 )|
|commercial paper|$ 2014|$ 2014|$ 28.6|$ 0.5||
( 1 ) at december 31 , 2008 , approximately $ 67.4 billion relates to collateralized advances from the federal home loan bank . ( 2 ) citigroup inc . guarantees all of cfi 2019s debt and cgmhi 2019s publicly issued securities. .
Question: in 2008 what was the ratio of the citigroup parent company to the other citigroup subsidiaries long-term debt
Answer: | 1.75938 |
FINQA3557 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements ( continued ) note 2 2014financial instruments ( continued ) are not covered by collateral , third-party flooring arrangements , or credit insurance are outstanding with the company 2019s distribution and retail channel partners . no customer accounted for more than 10% ( 10 % ) of trade receivables as of september 24 , 2005 or september 25 , 2004 . the following table summarizes the activity in the allowance for doubtful accounts ( in millions ) : september 24 , september 25 , september 27 .
||september 24 2005|september 25 2004|september 27 2003|
|beginning allowance balance|$ 47|$ 49|$ 51|
|charged to costs and expenses|8|3|4|
|deductions ( a )|-9 ( 9 )|-5 ( 5 )|-6 ( 6 )|
|ending allowance balance|$ 46|$ 47|$ 49|
( a ) represents amounts written off against the allowance , net of recoveries . vendor non-trade receivables the company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of raw material components to these manufacturing vendors who manufacture sub-assemblies or assemble final products for the company . the company purchases these raw material components directly from suppliers . these non-trade receivables , which are included in the consolidated balance sheets in other current assets , totaled $ 417 million and $ 276 million as of september 24 , 2005 and september 25 , 2004 , respectively . the company does not reflect the sale of these components in net sales and does not recognize any profits on these sales until the products are sold through to the end customer at which time the profit is recognized as a reduction of cost of sales . derivative financial instruments the company uses derivatives to partially offset its business exposure to foreign exchange and interest rate risk . foreign currency forward and option contracts are used to offset the foreign exchange risk on certain existing assets and liabilities and to hedge the foreign exchange risk on expected future cash flows on certain forecasted revenue and cost of sales . from time to time , the company enters into interest rate derivative agreements to modify the interest rate profile of certain investments and debt . the company 2019s accounting policies for these instruments are based on whether the instruments are designated as hedge or non-hedge instruments . the company records all derivatives on the balance sheet at fair value. .
Question: what was the highest ending allowance balance , in millions?
Answer: | 49.0 |
FINQA3558 | Please answer the given financial question based on the context.
Context: additionally , the latin american soft alloy extrusions business previously included in corporate was moved into the new transportation and construction solutions segment . the remaining engineered products and solutions segment consists of the alcoa fastening systems and rings ( renamed to include portions of the firth rixson business acquired in november 2014 ) , alcoa power and propulsion ( includes the tital business acquired in march 2015 ) , alcoa forgings and extrusions ( includes the other portions of firth rixson ) , and alcoa titanium and engineered products ( a new business unit that consists solely of the rti international metals business acquired in july 2015 ) business units . segment information for all prior periods presented was updated to reflect the new segment structure . atoi for all reportable segments totaled $ 1906 in 2015 , $ 1968 in 2014 , and $ 1267 in 2013 . the following information provides shipments , sales , and atoi data for each reportable segment , as well as certain production , realized price , and average cost data , for each of the three years in the period ended december 31 , 2015 . see note q to the consolidated financial statements in part ii item 8 of this form 10-k for additional information . alumina .
||2015|2014|2013|
|alumina production ( kmt )|15720|16606|16618|
|third-party alumina shipments ( kmt )|10755|10652|9966|
|alcoa 2019s average realized price per metric ton of alumina|$ 317|$ 324|$ 328|
|alcoa 2019s average cost per metric ton of alumina*|$ 237|$ 282|$ 295|
|third-party sales|$ 3455|$ 3509|$ 3326|
|intersegment sales|1687|1941|2235|
|total sales|$ 5142|$ 5450|$ 5561|
|atoi|$ 746|$ 370|$ 259|
* includes all production-related costs , including raw materials consumed ; conversion costs , such as labor , materials , and utilities ; depreciation , depletion , and amortization ; and plant administrative expenses . this segment represents a portion of alcoa 2019s upstream operations and consists of the company 2019s worldwide refining system . alumina mines bauxite , from which alumina is produced and then sold directly to external smelter customers , as well as to the primary metals segment ( see primary metals below ) , or to customers who process it into industrial chemical products . more than half of alumina 2019s production is sold under supply contracts to third parties worldwide , while the remainder is used internally by the primary metals segment . alumina produced by this segment and used internally is transferred to the primary metals segment at prevailing market prices . a portion of this segment 2019s third- party sales are completed through the use of agents , alumina traders , and distributors . generally , the sales of this segment are transacted in u.s . dollars while costs and expenses of this segment are transacted in the local currency of the respective operations , which are the australian dollar , the brazilian real , the u.s . dollar , and the euro . awac is an unincorporated global joint venture between alcoa and alumina limited and consists of a number of affiliated operating entities , which own , or have an interest in , or operate the bauxite mines and alumina refineries within the alumina segment ( except for the poc 0327os de caldas refinery in brazil and a portion of the sa 0303o lul 0301s refinery in brazil ) . alcoa owns 60% ( 60 % ) and alumina limited owns 40% ( 40 % ) of these individual entities , which are consolidated by the company for financial reporting purposes . as such , the results and analysis presented for the alumina segment are inclusive of alumina limited 2019s 40% ( 40 % ) interest . in december 2014 , awac completed the sale of its ownership stake in jamalco , a bauxite mine and alumina refinery joint venture in jamaica , to noble group ltd . jamalco was 55% ( 55 % ) owned by a subsidiary of awac , and , while owned by awac , 55% ( 55 % ) of both the operating results and assets and liabilities of this joint venture were included in the alumina segment . as it relates to awac 2019s previous 55% ( 55 % ) ownership stake , the refinery ( awac 2019s share of the capacity was 779 kmt-per-year ) generated sales ( third-party and intersegment ) of approximately $ 200 in 2013 , and the refinery and mine combined , at the time of divestiture , had approximately 500 employees . see restructuring and other charges in results of operations above. .
Question: what is the decrease in the alumina production during 2014 and 2015 , in kmt?
Answer: | 886.0 |
FINQA3559 | Please answer the given financial question based on the context.
Context: mondavi produces , markets and sells premium , super-premium and fine california wines under the woodbridge by robert mondavi , robert mondavi private selection and robert mondavi winery brand names . woodbridge and robert mondavi private selection are the leading premium and super-premium wine brands by volume , respectively , in the united states . the acquisition of robert mondavi supports the company 2019s strategy of strengthening the breadth of its portfolio across price segments to capitalize on the overall growth in the pre- mium , super-premium and fine wine categories . the company believes that the acquired robert mondavi brand names have strong brand recognition globally . the vast majority of robert mondavi 2019s sales are generated in the united states . the company intends to leverage the robert mondavi brands in the united states through its selling , marketing and distribution infrastructure . the company also intends to further expand distribution for the robert mondavi brands in europe through its constellation europe infrastructure . the company and robert mondavi have complementary busi- nesses that share a common growth orientation and operating philosophy . the robert mondavi acquisition provides the company with a greater presence in the fine wine sector within the united states and the ability to capitalize on the broader geographic distribution in strategic international markets . the robert mondavi acquisition supports the company 2019s strategy of growth and breadth across categories and geographies , and strengthens its competitive position in its core markets . in par- ticular , the company believes there are growth opportunities for premium , super-premium and fine wines in the united kingdom , united states and other wine markets . total consid- eration paid in cash to the robert mondavi shareholders was $ 1030.7 million . additionally , the company expects to incur direct acquisition costs of $ 11.2 million . the purchase price was financed with borrowings under the company 2019s 2004 credit agreement ( as defined in note 9 ) . in accordance with the pur- chase method of accounting , the acquired net assets are recorded at fair value at the date of acquisition . the purchase price was based primarily on the estimated future operating results of robert mondavi , including the factors described above , as well as an estimated benefit from operating cost synergies . the results of operations of the robert mondavi business are reported in the constellation wines segment and have been included in the consolidated statement of income since the acquisition date . the following table summarizes the estimated fair values of the assets acquired and liabilities assumed in the robert mondavi acquisition at the date of acquisition . the company is in the process of obtaining third-party valuations of certain assets and liabilities , and refining its restructuring plan which is under development and will be finalized during the company 2019s year ending february 28 , 2006 ( see note19 ) . accordingly , the allocation of the purchase price is subject to refinement . estimated fair values at december 22 , 2004 , are as follows : {in thousands} .
|current assets|$ 494788|
|property plant and equipment|452902|
|other assets|178823|
|trademarks|186000|
|goodwill|590459|
|total assets acquired|1902972|
|current liabilities|309051|
|long-term liabilities|552060|
|total liabilities acquired|861111|
|net assets acquired|$ 1041861|
the trademarks are not subject to amortization . none of the goodwill is expected to be deductible for tax purposes . in connection with the robert mondavi acquisition and robert mondavi 2019s previously disclosed intention to sell certain of its winery properties and related assets , and other vineyard prop- erties , the company has classified certain assets as held for sale as of february 28 , 2005 . the company expects to sell these assets during the year ended february 28 , 2006 , for net pro- ceeds of approximately $ 150 million to $ 175 million . no gain or loss is expected to be recognized upon the sale of these assets . hardy acquisition 2013 on march 27 , 2003 , the company acquired control of brl hardy limited , now known as hardy wine company limited ( 201chardy 201d ) , and on april 9 , 2003 , the company completed its acquisition of all of hardy 2019s outstanding capital stock . as a result of the acquisition of hardy , the company also acquired the remaining 50% ( 50 % ) ownership of pacific wine partners llc ( 201cpwp 201d ) , the joint venture the company established with hardy in july 2001 . the acquisition of hardy along with the remaining interest in pwp is referred to together as the 201chardy acquisition . 201d through this acquisition , the company acquired one of australia 2019s largest wine producers with interests in winer- ies and vineyards in most of australia 2019s major wine regions as well as new zealand and the united states and hardy 2019s market- ing and sales operations in the united kingdom . total consideration paid in cash and class a common stock to the hardy shareholders was $ 1137.4 million . additionally , the company recorded direct acquisition costs of $ 17.2 million . the acquisition date for accounting purposes is march 27 , 2003 . the company has recorded a $ 1.6 million reduction in the purchase price to reflect imputed interest between the accounting acquisition date and the final payment of consider- ation . this charge is included as interest expense in the consolidated statement of income for the year ended february 29 , 2004 . the cash portion of the purchase price paid to the hardy shareholders and optionholders ( $ 1060.2 mil- lion ) was financed with $ 660.2 million of borrowings under the company 2019s then existing credit agreement and $ 400.0 million .
Question: of the two acquisitions , was the purchase price of the hardy acquisition greater than the mondavi acquisition?
Answer: | yes |
FINQA3560 | Please answer the given financial question based on the context.
Context: 2016 vs . 2015 sales of $ 498.8 increased $ 212.1 , or 74% ( 74 % ) . the increase in sales was driven by the jazan project which more than offset the decrease in small equipment and other air separation unit sales . in 2016 , we recognized approximately $ 300 of sales related to the jazan project . operating loss of $ 21.3 decreased 59% ( 59 % ) , or $ 30.3 , primarily from income on the jazan project and benefits from cost reduction actions , partially offset by lower other sale of equipment project activity and a gain associated with the cancellation of a sale of equipment contract that was recorded in fiscal year 2015 . corporate and other the corporate and other segment includes two ongoing global businesses ( our lng equipment business and our liquid helium and liquid hydrogen transport and storage container businesses ) , and corporate support functions that benefit all the segments . corporate and other also includes income and expense that is not directly associated with the business segments , including foreign exchange gains and losses and stranded costs . stranded costs result from functional support previously provided to the two divisions comprising the former materials technologies segment . the majority of these costs are reimbursed to air products pursuant to short-term transition services agreements under which air products provides transition services to versum for emd and to evonik for pmd . the reimbursement for costs in support of the transition services has been reflected on the consolidated income statements within "other income ( expense ) , net." .
||2017|2016|2015|
|sales|$ 82.6|$ 236.0|$ 315.4|
|operating loss|-170.6 ( 170.6 )|-87.6 ( 87.6 )|-86.5 ( 86.5 )|
|adjusted ebitda|-158.4 ( 158.4 )|-68.1 ( 68.1 )|-66.2 ( 66.2 )|
2017 vs . 2016 sales of $ 82.6 decreased $ 153.4 , primarily due to lower lng project activity . we expect continued weakness in new lng project orders due to continued oversupply of lng in the market . operating loss of $ 170.6 increased $ 83.0 due to lower lng activity , partially offset by productivity improvements and income from transition service agreements with versum and evonik . 2016 vs . 2015 sales of $ 236.0 decreased $ 79.4 , or 25% ( 25 % ) , primarily due to lower lng sale of equipment activity . operating loss of $ 87.6 increased 1% ( 1 % ) , or $ 1.1 , due to lower lng activity , mostly offset by benefits from our recent cost reduction actions and lower foreign exchange losses . reconciliation of non-gaap financial measures ( millions of dollars unless otherwise indicated , except for per share data ) the company has presented certain financial measures on a non-gaap ( 201cadjusted 201d ) basis and has provided a reconciliation to the most directly comparable financial measure calculated in accordance with gaap . these financial measures are not meant to be considered in isolation or as a substitute for the most directly comparable financial measure calculated in accordance with gaap . the company believes these non-gaap measures provide investors , potential investors , securities analysts , and others with useful supplemental information to evaluate the performance of the business because such measures , when viewed together with our financial results computed in accordance with gaap , provide a more complete understanding of the factors and trends affecting our historical financial performance and projected future results . in many cases , our non-gaap measures are determined by adjusting the most directly comparable gaap financial measure to exclude certain disclosed items ( 201cnon-gaap adjustments 201d ) that we believe are not representative of the underlying business performance . for example , air products has executed its strategic plan to restructure the company to focus on its core industrial gases business . this resulted in significant cost reduction and asset actions that we believe are important for investors to understand separately from the performance of the underlying business . the reader should be aware that we may incur similar expenses in the future . the tax impact of our non- gaap adjustments reflects the expected current and deferred income tax expense impact of the transactions and is impacted primarily by the statutory tax rate of the various relevant jurisdictions and the taxability of the adjustments in those jurisdictions . investors should also consider the limitations associated with these non-gaap measures , including the potential lack of comparability of these measures from one company to another. .
Question: considering the years 2015-2017 , what is the highest adjusted ebitda observed?
Answer: | -66.2 |
FINQA3561 | 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: what was the percent of the change in the 8 total brokerage payable from 2015 to 2016
Answer: | 0.06385 |
FINQA3562 | Please answer the given financial question based on the context.
Context: united kingdom . bermuda re 2019s uk branch conducts business in the uk and is subject to taxation in the uk . bermuda re believes that it has operated and will continue to operate its bermuda operation in a manner which will not cause them to be subject to uk taxation . if bermuda re 2019s bermuda operations were to become subject to uk income tax , there could be a material adverse impact on the company 2019s financial condition , results of operations and cash flow . ireland . holdings ireland and ireland re conduct business in ireland and are subject to taxation in ireland . available information . the company 2019s annual reports on form 10-k , quarterly reports on form 10-q , current reports on form 8- k , proxy statements and amendments to those reports are available free of charge through the company 2019s internet website at http://www.everestre.com as soon as reasonably practicable after such reports are electronically filed with the securities and exchange commission ( the 201csec 201d ) . item 1a . risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities . if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly . risks relating to our business fluctuations in the financial markets could result in investment losses . prolonged and severe disruptions in the public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio . for the year ended december 31 , 2008 , we incurred $ 695.8 million of realized investment gains and $ 310.4 million of unrealized investment losses . although financial markets significantly improved during 2009 and 2010 , they could deteriorate in the future and again result in substantial realized and unrealized losses , which could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings . our results could be adversely affected by catastrophic events . we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism . any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations . subsequent to april 1 , 2010 , we define a catastrophe as an event that causes a loss on property exposures before reinsurance of at least $ 10.0 million , before corporate level reinsurance and taxes . prior to april 1 , 2010 , we used a threshold of $ 5.0 million . by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of contract specific reinsurance but before cessions under corporate reinsurance programs , were as follows: .
|calendar year:|pre-tax catastrophe losses|
|( dollars in millions )||
|2010|$ 571.1|
|2009|67.4|
|2008|364.3|
|2007|160.0|
|2006|287.9|
.
Question: what is the percent change in pre tax catastrophe losses between 2007 and 2008?
Answer: | 1.27687 |
FINQA3563 | Please answer the given financial question based on the context.
Context: stock total return performance the following graph compares our total return to stockholders with the returns of the standard & poor 2019s composite 500 index ( 201cs&p 500 201d ) and the dow jones us select health care providers index ( 201cpeer group 201d ) for the five years ended december 31 , 2017 . the graph assumes an investment of $ 100 in each of our common stock , the s&p 500 , and the peer group on december 31 , 2012 , and that dividends were reinvested when paid. .
||12/31/2012|12/31/2013|12/31/2014|12/31/2015|12/31/2016|12/31/2017|
|hum|$ 100|$ 152|$ 214|$ 267|$ 307|$ 377|
|s&p 500|$ 100|$ 132|$ 150|$ 153|$ 171|$ 208|
|peer group|$ 100|$ 137|$ 175|$ 186|$ 188|$ 238|
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .
Question: what is the highest return for the second year of the investment?
Answer: | 114.0 |
FINQA3564 | Please answer the given financial question based on the context.
Context: item 5 . market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following graph compares annual total return of our common stock , the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) and our peer group ( 201cloews peer group 201d ) for the five years ended december 31 , 2016 . the graph assumes that the value of the investment in our common stock , the s&p 500 index and the loews peer group was $ 100 on december 31 , 2011 and that all dividends were reinvested. .
||2011|2012|2013|2014|2015|2016|
|loews common stock|100.0|108.91|129.64|113.59|104.47|128.19|
|s&p 500 index|100.0|116.00|153.57|174.60|177.01|198.18|
|loews peer group ( a )|100.0|113.39|142.85|150.44|142.44|165.34|
( a ) the loews peer group consists of the following companies that are industry competitors of our principal operating subsidiaries : chubb limited ( name change from ace limited after it acquired the chubb corporation on january 15 , 2016 ) , w.r . berkley corporation , the chubb corporation ( included through january 15 , 2016 when it was acquired by ace limited ) , energy transfer partners l.p. , ensco plc , the hartford financial services group , inc. , kinder morgan energy partners , l.p . ( included through november 26 , 2014 when it was acquired by kinder morgan inc. ) , noble corporation , spectra energy corp , transocean ltd . and the travelers companies , inc . dividend information we have paid quarterly cash dividends in each year since 1967 . regular dividends of $ 0.0625 per share of loews common stock were paid in each calendar quarter of 2016 and 2015. .
Question: what is the roi of an investment in s&p500 index from 2011 to 2012?
Answer: | 0.16 |
FINQA3565 | Please answer the given financial question based on the context.
Context: 2015 compared to 2014 mfc 2019s net sales in 2015 decreased $ 322 million , or 5% ( 5 % ) , compared to the same period in 2014 . the decrease was attributable to lower net sales of approximately $ 345 million for air and missile defense programs due to fewer deliveries ( primarily pac-3 ) and lower volume ( primarily thaad ) ; and approximately $ 85 million for tactical missile programs due to fewer deliveries ( primarily guided multiple launch rocket system ( gmlrs ) ) and joint air-to-surface standoff missile , partially offset by increased deliveries for hellfire . these decreases were partially offset by higher net sales of approximately $ 55 million for energy solutions programs due to increased volume . mfc 2019s operating profit in 2015 decreased $ 62 million , or 5% ( 5 % ) , compared to 2014 . the decrease was attributable to lower operating profit of approximately $ 100 million for fire control programs due primarily to lower risk retirements ( primarily lantirn and sniper ) ; and approximately $ 65 million for tactical missile programs due to lower risk retirements ( primarily hellfire and gmlrs ) and fewer deliveries . these decreases were partially offset by higher operating profit of approximately $ 75 million for air and missile defense programs due to increased risk retirements ( primarily thaad ) . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 60 million lower in 2015 compared to 2014 . backlog backlog decreased in 2016 compared to 2015 primarily due to lower orders on pac-3 , hellfire , and jassm . backlog increased in 2015 compared to 2014 primarily due to higher orders on pac-3 , lantirn/sniper and certain tactical missile programs , partially offset by lower orders on thaad . trends we expect mfc 2019s net sales to increase in the mid-single digit percentage range in 2017 as compared to 2016 driven primarily by our air and missile defense programs . operating profit is expected to be flat or increase slightly . accordingly , operating profit margin is expected to decline from 2016 levels as a result of contract mix and fewer risk retirements in 2017 compared to 2016 . rotary and mission systems as previously described , on november 6 , 2015 , we acquired sikorsky and aligned the sikorsky business under our rms business segment . the 2015 results of the acquired sikorsky business have been included in our financial results from the november 6 , 2015 acquisition date through december 31 , 2015 . as a result , our consolidated operating results and rms business segment operating results for the year ended december 31 , 2015 do not reflect a full year of sikorsky operations . our rms business segment provides design , manufacture , service and support for a variety of military and civil helicopters , ship and submarine mission and combat systems ; mission systems and sensors for rotary and fixed-wing aircraft ; sea and land-based missile defense systems ; radar systems ; the littoral combat ship ( lcs ) ; simulation and training services ; and unmanned systems and technologies . in addition , rms supports the needs of government customers in cybersecurity and delivers communication and command and control capabilities through complex mission solutions for defense applications . rms 2019 major programs include black hawk and seahawk helicopters , aegis combat system ( aegis ) , lcs , space fence , advanced hawkeye radar system , tpq-53 radar system , ch-53k development helicopter , and vh-92a helicopter program . rms 2019 operating results included the following ( in millions ) : .
||2016|2015|2014|
|net sales|$ 13462|$ 9091|$ 8732|
|operating profit|906|844|936|
|operating margin|6.7% ( 6.7 % )|9.3% ( 9.3 % )|10.7% ( 10.7 % )|
|backlog atyear-end|$ 28400|$ 30100|$ 13300|
2016 compared to 2015 rms 2019 net sales in 2016 increased $ 4.4 billion , or 48% ( 48 % ) , compared to 2015 . the increase was primarily attributable to higher net sales of approximately $ 4.6 billion from sikorsky , which was acquired on november 6 , 2015 . net sales for 2015 include sikorsky 2019s results subsequent to the acquisition date , net of certain revenue adjustments required to account for the acquisition of this business . this increase was partially offset by lower net sales of approximately $ 70 million for training .
Question: what were average operating profit for rms in millions between 2014 and 2016?
Answer: | 895.33333 |
FINQA3566 | Please answer the given financial question based on the context.
Context: item 12 2014security ownership of certain beneficial owners and management and related stockholder matters we incorporate by reference in this item 12 the information relating to ownership of our common stock by certain persons contained under the headings 201ccommon stock ownership of management 201d and 201ccommon stock ownership by certain other persons 201d from our proxy statement to be delivered in connection with our 2009 annual meeting of shareholders to be held on september 30 , 2009 . we have four compensation plans under which our equity securities are authorized for issuance . the global payments inc . amended and restated 2000 long-term incentive plan , global payments inc . amended and restated 2005 incentive plan , the non-employee director stock option plan , and employee stock purchase plan have been approved by security holders . the information in the table below is as of may 31 , 2009 . for more information on these plans , see note 11 to notes to consolidated financial statements . plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted- average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4292668 $ 28 6570132 ( 1 ) equity compensation plans not approved by security holders: . . . . . . . . . . . . . . . . . . . . . . . . 2014 2014 2014 .
|plan category|number of securities to be issued upon exercise of outstanding options warrants and rights ( a )|weighted- average exercise price of outstanding options warrants andrights ( b )|number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )||
|equity compensation plans approved by security holders:|4292668|$ 28|6570132|-1 ( 1 )|
|equity compensation plans not approved by security holders:|2014|2014|2014||
|total|4292668|$ 28|6570132|-1 ( 1 )|
( 1 ) also includes shares of common stock available for issuance other than upon the exercise of an option , warrant or right under the global payments inc . 2000 long-term incentive plan , as amended and restated , the global payments inc . amended and restated 2005 incentive plan and an amended and restated 2000 non-employee director stock option plan . item 13 2014certain relationships and related transactions , and director independence we incorporate by reference in this item 13 the information regarding certain relationships and related transactions between us and some of our affiliates and the independence of our board of directors contained under the headings 201ccertain relationships and related transactions 201d and 201cother information about the board and its committees 2014director independence 201d from our proxy statement to be delivered in connection with our 2009 annual meeting of shareholders to be held on september 30 , 2009 . item 14 2014principal accounting fees and services we incorporate by reference in this item 14 the information regarding principal accounting fees and services contained under the heading 201cauditor information 201d from our proxy statement to be delivered in connection with our 2009 annual meeting of shareholders to be held on september 30 , 2009. .
Question: what is the total value of securities approved by security holders that remain to be issued in the future , ( in millions ) ?
Answer: | 183.9637 |
FINQA3567 | Please answer the given financial question based on the context.
Context: guarantees to third parties . we have , however , issued guar- antees and comfort letters of $ 171 million for the debt and other obligations of unconsolidated affiliates , primarily for cpw . in addition , off-balance sheet arrangements are gener- ally limited to the future payments under noncancelable operating leases , which totaled $ 408 million at may 28 , at may 28 , 2006 , we had invested in four variable interest entities ( vies ) . we are the primary beneficiary ( pb ) of general mills capital , inc . ( gm capital ) , a subsidiary that we consolidate as set forth in note eight to the consoli- dated financial statements appearing on pages 43 and 44 in item eight of this report . we also have an interest in a contract manufacturer at our former facility in geneva , illi- nois . even though we are the pb , we have not consolidated this entity because it is not material to our results of oper- ations , financial condition , or liquidity at may 28 , 2006 . this entity had property and equipment of $ 50 million and long-term debt of $ 50 million at may 28 , 2006 . we are not the pb of the remaining two vies . our maximum exposure to loss from these vies is limited to the $ 150 million minority interest in gm capital , the contract manufactur- er 2019s debt and our $ 6 million of equity investments in the two remaining vies . the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period . the majority of the purchase obligations represent commitments for raw mate- rial and packaging to be utilized in the normal course of business and for consumer-directed marketing commit- ments that support our brands . the net fair value of our interest rate and equity swaps was $ 159 million at may 28 , 2006 , based on market values as of that date . future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future . other long-term obligations primarily consist of income taxes , accrued compensation and benefits , and miscella- neous liabilities . we are unable to estimate the timing of the payments for these items . we do not have significant statutory or contractual funding requirements for our defined-benefit retirement and other postretirement benefit plans . further information on these plans , including our expected contributions for fiscal 2007 , is set forth in note thirteen to the consolidated financial statements appearing on pages 47 through 50 in item eight of this report . in millions , payments due by fiscal year total 2007 2008-09 2010-11 2012 and thereafter .
|in millionspayments dueby fiscal year|total|2007|2008-09|2010-11|2012 andthereafter|
|long-term debt|$ 4546|$ 2131|$ 971|$ 55|$ 1389|
|accrued interest|152|152|2013|2013|2013|
|operating leases|408|92|142|89|85|
|purchaseobligations|2351|2068|144|75|64|
|total|$ 7457|$ 4443|$ 1257|$ 219|$ 1538|
significant accounting estimates for a complete description of our significant accounting policies , please see note one to the consolidated financial statements appearing on pages 35 through 37 in item eight of this report . our significant accounting estimates are those that have meaningful impact on the reporting of our financial condition and results of operations . these poli- cies include our accounting for trade and consumer promotion activities ; goodwill and other intangible asset impairments ; income taxes ; and pension and other postretirement benefits . trade and consumer promotion activities we report sales net of certain coupon and trade promotion costs . the consumer coupon costs recorded as a reduction of sales are based on the estimated redemption value of those coupons , as determined by historical patterns of coupon redemption and consideration of current market conditions such as competitive activity in those product categories . the trade promotion costs include payments to customers to perform merchandising activities on our behalf , such as advertising or in-store displays , discounts to our list prices to lower retail shelf prices , and payments to gain distribution of new products . the cost of these activi- ties is recognized as the related revenue is recorded , which generally precedes the actual cash expenditure . the recog- nition of these costs requires estimation of customer participation and performance levels . these estimates are made based on the quantity of customer sales , the timing and forecasted costs of promotional activities , and other factors . differences between estimated expenses and actual costs are normally insignificant and are recognized as a change in management estimate in a subsequent period . our accrued trade and consumer promotion liability was $ 339 million as of may 28 , 2006 , and $ 283 million as of may 29 , 2005 . our unit volume in the last week of each quarter is consis- tently higher than the average for the preceding weeks of the quarter . in comparison to the average daily shipments in the first 12 weeks of a quarter , the final week of each quarter has approximately two to four days 2019 worth of incre- mental shipments ( based on a five-day week ) , reflecting increased promotional activity at the end of the quarter . this increased activity includes promotions to assure that our customers have sufficient inventory on hand to support major marketing events or increased seasonal demand early in the next quarter , as well as promotions intended to help achieve interim unit volume targets . if , due to quarter-end promotions or other reasons , our customers purchase more product in any reporting period than end-consumer demand will require in future periods , our sales level in future reporting periods could be adversely affected. .
Question: what portion of the total obligations are due by fiscal year 2007?
Answer: | 0.59582 |
FINQA3568 | Please answer the given financial question based on the context.
Context: 14 . capital stock and earnings per share we are authorized to issue 250 million shares of preferred stock , none of which were issued or outstanding as of december 31 , 2009 . the numerator for both basic and diluted earnings per share is net earnings available to common stockholders . the denominator for basic earnings per share is the weighted average number of common shares outstanding during the period . the denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive stock options and other equity awards . the following is a reconciliation of weighted average shares for the basic and diluted share computations for the years ending december 31 ( in millions ) : .
||2009|2008|2007|
|weighted average shares outstanding for basic net earnings per share|215.0|227.3|235.5|
|effect of dilutive stock options and other equity awards|0.8|1.0|2.0|
|weighted average shares outstanding for diluted net earnings per share|215.8|228.3|237.5|
weighted average shares outstanding for basic net earnings per share 215.0 227.3 235.5 effect of dilutive stock options and other equity awards 0.8 1.0 2.0 weighted average shares outstanding for diluted net earnings per share 215.8 228.3 237.5 for the year ended december 31 , 2009 , an average of 14.3 million options to purchase shares of common stock were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of the common stock . for the years ended december 31 , 2008 and 2007 , an average of 11.2 million and 3.1 million options , respectively , were not included . during 2009 , we repurchased approximately 19.8 million shares of our common stock at an average price of $ 46.56 per share for a total cash outlay of $ 923.7 million , including commissions . in april 2008 , we announced that our board of directors authorized a $ 1.25 billion share repurchase program which was originally set to expire on december 31 , 2009 . in september 2009 , the board of directors extended this program to december 31 , 2010 . approximately $ 211.1 million remains authorized for future repurchases under this plan . 15 . segment data we design , develop , manufacture and market orthopaedic reconstructive implants , dental implants , spinal implants , trauma products and related surgical products which include surgical supplies and instruments designed to aid in surgical procedures and post-operation rehabilitation . we also provide other healthcare-related services . revenue related to these services currently represents less than 1 percent of our total net sales . we manage operations through three major geographic segments 2013 the americas , which is comprised principally of the united states and includes other north , central and south american markets ; europe , which is comprised principally of europe and includes the middle east and africa ; and asia pacific , which is comprised primarily of japan and includes other asian and pacific markets . this structure is the basis for our reportable segment information discussed below . management evaluates reportable segment performance based upon segment operating profit exclusive of operating expenses pertaining to global operations and corporate expenses , share-based compensation expense , settlement , certain claims , acquisition , integration , realignment and other expenses , net curtailment and settlement , inventory step-up , in-process research and development write-offs and intangible asset amortization expense . global operations include research , development engineering , medical education , brand management , corporate legal , finance , and human resource functions and u.s . and puerto rico-based manufacturing operations and logistics . intercompany transactions have been eliminated from segment operating profit . management reviews accounts receivable , inventory , property , plant and equipment , goodwill and intangible assets by reportable segment exclusive of u.s . and puerto rico-based manufacturing operations and logistics and corporate assets . z i m m e r h o l d i n g s , i n c . 2 0 0 9 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) %%transmsg*** transmitting job : c55340 pcn : 060000000 ***%%pcmsg|60 |00007|yes|no|02/24/2010 01:32|0|0|page is valid , no graphics -- color : d| .
Question: what is the percent change in weighted average shares outstanding for basic net earnings per share between 2007 and 2009?
Answer: | -0.08705 |
FINQA3569 | Please answer the given financial question based on the context.
Context: the following table sets forth the components of foreign currency translation adjustments for fiscal 2011 , 2010 and 2009 ( in thousands ) : beginning balance foreign currency translation adjustments income tax effect relating to translation adjustments for undistributed foreign earnings ending balance $ 7632 ( 2208 ) $ 10580 $ 10640 ( 4144 ) $ 7632 $ ( 431 ) 17343 ( 6272 ) $ 10640 stock repurchase program to facilitate our stock repurchase program , designed to return value to our stockholders and minimize dilution from stock issuances , we repurchase shares in the open market and also enter into structured repurchase agreements with third-parties . authorization to repurchase shares to cover on-going dilution was not subject to expiration . however , this repurchase program was limited to covering net dilution from stock issuances and was subject to business conditions and cash flow requirements as determined by our board of directors from time to time . during the third quarter of fiscal 2010 , our board of directors approved an amendment to our stock repurchase program authorized in april 2007 from a non-expiring share-based authority to a time-constrained dollar-based authority . as part of this amendment , the board of directors granted authority to repurchase up to $ 1.6 billion in common stock through the end of fiscal 2012 . this amended program did not affect the $ 250.0 million structured stock repurchase agreement entered into during march 2010 . as of december 3 , 2010 , no prepayments remain under that agreement . during fiscal 2011 , 2010 and 2009 , we entered into several structured repurchase agreements with large financial institutions , whereupon we provided the financial institutions with prepayments totaling $ 695.0 million , $ 850.0 million and $ 350.0 million , respectively . of the $ 850.0 million of prepayments during fiscal 2010 , $ 250.0 million was under the stock repurchase program prior to the program amendment and the remaining $ 600.0 million was under the amended $ 1.6 billion time-constrained dollar- based authority . we enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the volume weighted average price ( 201cvwap 201d ) of our common stock over a specified period of time . we only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions . there were no explicit commissions or fees on these structured repurchases . under the terms of the agreements , there is no requirement for the financial institutions to return any portion of the prepayment to us . the financial institutions agree to deliver shares to us at monthly intervals during the contract term . the parameters used to calculate the number of shares deliverable are : the total notional amount of the contract , the number of trading days in the contract , the number of trading days in the interval and the average vwap of our stock during the interval less the agreed upon discount . during fiscal 2011 , we repurchased approximately 21.8 million shares at an average price of $ 31.81 through structured repurchase agreements entered into during fiscal 2011 . during fiscal 2010 , we repurchased approximately 31.2 million shares at an average price of $ 29.19 through structured repurchase agreements entered into during fiscal 2009 and fiscal 2010 . during fiscal 2009 , we repurchased approximately 15.2 million shares at an average price per share of $ 27.89 through structured repurchase agreements entered into during fiscal 2008 and fiscal 2009 . for fiscal 2011 , 2010 and 2009 , the prepayments were classified as treasury stock on our consolidated balance sheets at the payment date , though only shares physically delivered to us by december 2 , 2011 , december 3 , 2010 and november 27 , 2009 were excluded from the computation of earnings per share . as of december 2 , 2011 and december 3 , 2010 , no prepayments remained under these agreements . as of november 27 , 2009 , approximately $ 59.9 million of prepayments remained under these agreements . subsequent to december 2 , 2011 , as part of our $ 1.6 billion stock repurchase program , we entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $ 80.0 million . this amount will be classified as treasury stock on our consolidated balance sheets . upon completion of the $ 80.0 million stock table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) jarcamo typewritten text .
||2011|2010|2009|
|beginning balance|$ 7632|$ 10640|$ -431 ( 431 )|
|foreign currency translation adjustments|5156|-4144 ( 4144 )|17343|
|income tax effect relating to translation adjustments forundistributed foreign earnings|-2208 ( 2208 )|1136|-6272 ( 6272 )|
|ending balance|$ 10580|$ 7632|$ 10640|
the following table sets forth the components of foreign currency translation adjustments for fiscal 2011 , 2010 and 2009 ( in thousands ) : beginning balance foreign currency translation adjustments income tax effect relating to translation adjustments for undistributed foreign earnings ending balance $ 7632 ( 2208 ) $ 10580 $ 10640 ( 4144 ) $ 7632 $ ( 431 ) 17343 ( 6272 ) $ 10640 stock repurchase program to facilitate our stock repurchase program , designed to return value to our stockholders and minimize dilution from stock issuances , we repurchase shares in the open market and also enter into structured repurchase agreements with third-parties . authorization to repurchase shares to cover on-going dilution was not subject to expiration . however , this repurchase program was limited to covering net dilution from stock issuances and was subject to business conditions and cash flow requirements as determined by our board of directors from time to time . during the third quarter of fiscal 2010 , our board of directors approved an amendment to our stock repurchase program authorized in april 2007 from a non-expiring share-based authority to a time-constrained dollar-based authority . as part of this amendment , the board of directors granted authority to repurchase up to $ 1.6 billion in common stock through the end of fiscal 2012 . this amended program did not affect the $ 250.0 million structured stock repurchase agreement entered into during march 2010 . as of december 3 , 2010 , no prepayments remain under that agreement . during fiscal 2011 , 2010 and 2009 , we entered into several structured repurchase agreements with large financial institutions , whereupon we provided the financial institutions with prepayments totaling $ 695.0 million , $ 850.0 million and $ 350.0 million , respectively . of the $ 850.0 million of prepayments during fiscal 2010 , $ 250.0 million was under the stock repurchase program prior to the program amendment and the remaining $ 600.0 million was under the amended $ 1.6 billion time-constrained dollar- based authority . we enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the volume weighted average price ( 201cvwap 201d ) of our common stock over a specified period of time . we only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions . there were no explicit commissions or fees on these structured repurchases . under the terms of the agreements , there is no requirement for the financial institutions to return any portion of the prepayment to us . the financial institutions agree to deliver shares to us at monthly intervals during the contract term . the parameters used to calculate the number of shares deliverable are : the total notional amount of the contract , the number of trading days in the contract , the number of trading days in the interval and the average vwap of our stock during the interval less the agreed upon discount . during fiscal 2011 , we repurchased approximately 21.8 million shares at an average price of $ 31.81 through structured repurchase agreements entered into during fiscal 2011 . during fiscal 2010 , we repurchased approximately 31.2 million shares at an average price of $ 29.19 through structured repurchase agreements entered into during fiscal 2009 and fiscal 2010 . during fiscal 2009 , we repurchased approximately 15.2 million shares at an average price per share of $ 27.89 through structured repurchase agreements entered into during fiscal 2008 and fiscal 2009 . for fiscal 2011 , 2010 and 2009 , the prepayments were classified as treasury stock on our consolidated balance sheets at the payment date , though only shares physically delivered to us by december 2 , 2011 , december 3 , 2010 and november 27 , 2009 were excluded from the computation of earnings per share . as of december 2 , 2011 and december 3 , 2010 , no prepayments remained under these agreements . as of november 27 , 2009 , approximately $ 59.9 million of prepayments remained under these agreements . subsequent to december 2 , 2011 , as part of our $ 1.6 billion stock repurchase program , we entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $ 80.0 million . this amount will be classified as treasury stock on our consolidated balance sheets . upon completion of the $ 80.0 million stock table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) jarcamo typewritten text .
Question: what is the growth rate in the average price of repurchased shares from 2010 to 2011?
Answer: | 0.08976 |
FINQA3570 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis 118 jpmorgan chase & co./2018 form 10-k equivalent to the risk of loan exposures . dre is a less extreme measure of potential credit loss than peak and is used as an input for aggregating derivative credit risk exposures with loans and other credit risk . finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral . avg over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit risk capital and the cva , as further described below . the fair value of the firm 2019s derivative receivables incorporates cva to reflect the credit quality of counterparties . cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market . the firm believes that active risk management is essential to controlling the dynamic credit risk in the derivatives portfolio . in addition , the firm 2019s risk management process takes into consideration the potential impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality . many factors may influence the nature and magnitude of these correlations over time . to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg . the firm risk manages exposure to changes in cva by entering into credit derivative contracts , as well as interest rate , foreign exchange , equity and commodity derivative contracts . the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the peak , dre and avg metrics . the three measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio . exposure profile of derivatives measures december 31 , 2018 ( in billions ) the following table summarizes the ratings profile of the firm 2019s derivative receivables , including credit derivatives , net of all collateral , at the dates indicated . the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as assigned by s&p and moody 2019s . ratings profile of derivative receivables .
|rating equivalent december 31 ( in millions except ratios )|rating equivalent exposure net of all collateral|rating equivalent % ( % ) of exposure netof all collateral|exposure net of all collateral|% ( % ) of exposure netof all collateral|
|aaa/aaa to aa-/aa3|$ 11831|31% ( 31 % )|$ 11529|29% ( 29 % )|
|a+/a1 to a-/a3|7428|19|6919|17|
|bbb+/baa1 to bbb-/baa3|12536|32|13925|34|
|bb+/ba1 to b-/b3|6373|16|7397|18|
|ccc+/caa1 and below|723|2|645|2|
|total|$ 38891|100% ( 100 % )|$ 40415|100% ( 100 % )|
as previously noted , the firm uses collateral agreements to mitigate counterparty credit risk . the percentage of the firm 2019s over-the-counter derivative transactions subject to collateral agreements 2014 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity and centrally cleared trades that are settled daily 2014 was approximately 90% ( 90 % ) at both december 31 , 2018 , and december 31 , 2017. .
Question: what percentage of the 2018 derivative receivable ratings were ratings equivalent to junk bonds?
Answer: | 18.0 |
FINQA3571 | Please answer the given financial question based on the context.
Context: have access to liquidity by issuing bonds to public or private investors based on our assessment of the current condition of the credit markets . at december 31 , 2009 , we had a working capital surplus of approximately $ 1.0 billion , which reflects our decision to maintain additional cash reserves to enhance liquidity in response to difficult economic conditions . at december 31 , 2008 , we had a working capital deficit of approximately $ 100 million . historically , we have had a working capital deficit , which is common in our industry and does not indicate a lack of liquidity . we maintain adequate resources and , when necessary , have access to capital to meet any daily and short-term cash requirements , and we have sufficient financial capacity to satisfy our current liabilities . cash flows millions of dollars 2009 2008 2007 .
|millions of dollars|2009|2008|2007|
|cash provided by operating activities|$ 3234|$ 4070|$ 3277|
|cash used in investing activities|-2175 ( 2175 )|-2764 ( 2764 )|-2426 ( 2426 )|
|cash used in financing activities|-458 ( 458 )|-935 ( 935 )|-800 ( 800 )|
|net change in cash and cash equivalents|$ 601|$ 371|$ 51|
operating activities lower net income in 2009 , a reduction of $ 184 million in the outstanding balance of our accounts receivable securitization program , higher pension contributions of $ 72 million , and changes to working capital combined to decrease cash provided by operating activities compared to 2008 . higher net income and changes in working capital combined to increase cash provided by operating activities in 2008 compared to 2007 . in addition , accelerated tax deductions enacted in 2008 on certain new operating assets resulted in lower income tax payments in 2008 versus 2007 . voluntary pension contributions in 2008 totaling $ 200 million and other pension contributions of $ 8 million partially offset the year-over-year increase versus 2007 . investing activities lower capital investments and higher proceeds from asset sales drove the decrease in cash used in investing activities in 2009 versus 2008 . increased capital investments and lower proceeds from asset sales drove the increase in cash used in investing activities in 2008 compared to 2007. .
Question: what was the net working capital surplus for 2008 and 2009 , in millions?
Answer: | 900.0 |
FINQA3572 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 2003 were $ 10.08 , $ 7.05 , and $ 6.32 per share , respectively . key assumptions used to apply this pricing model are as follows : july 1 , 2005 2013 december 31 , 2005 january 1 , 2005 2013 june 30 , 2005 2004 2003 .
||july 1 2005 2013 december 31 2005|january 1 2005 2013 june 30 2005|2004|2003|
|approximate risk-free interest rate|3.22% ( 3.22 % ) - 4.40% ( 4.40 % )|4.17% ( 4.17 % ) - 4.40% ( 4.40 % )|4.23% ( 4.23 % )|4.00% ( 4.00 % )|
|expected life of option grants|6.25 years|4 years|4 years|4 years|
|expected volatility of underlying stock|29.6% ( 29.6 % )|75.3% ( 75.3 % ) - 79.2% ( 79.2 % )|80.6% ( 80.6 % )|86.6% ( 86.6 % )|
|expected volatility of underlying stock ( atc mexico and atc south america plans )|n/a|n/a|n/a|n/a|
|expected dividends|n/a|n/a|n/a|n/a|
voluntary option exchanges 2014in february 2004 , the company issued to eligible employees 1032717 options with an exercise price of $ 11.19 per share , the fair market value of the class a common stock on the date of grant . these options were issued in connection with a voluntary option exchange program entered into by the company in august 2003 , pursuant to which the company accepted for surrender and cancelled options to purchase a total of 1831981 shares of its class a common stock having an exercise price of $ 10.25 or greater . the program , which was offered to both full and part-time employees , excluding the company 2019s executive officers and its directors , provided for the grant ( at least six months and one day from the surrender date to employees still employed on that date ) of new options exercisable for two shares of class a common stock for every three shares of class a common stock issuable upon exercise of a surrendered option . no options were granted to any employees who participated in the exchange offer between the cancellation date and the new grant atc mexico stock option plan 2014the company maintains a stock option plan in its atc mexico subsidiary ( atc mexico plan ) . the atc mexico plan provides for the issuance of options to officers , employees , directors and consultants of atc mexico . the atc mexico plan limits the number of shares of common stock which may be granted to an aggregate of 360 shares , subject to adjustment based on changes in atc mexico 2019s capital structure . during 2002 , atc mexico granted options to purchase 318 shares of atc mexico common stock to officers and employees . such options were issued at one time with an exercise price of $ 10000 per share . the exercise price per share was at fair market value as determined by the board of directors with the assistance of an independent appraisal performed at the company 2019s request . the fair value of atc mexico plan options granted during 2002 were $ 3611 per share as determined by using the black-scholes option pricing model . as described in note 11 , all outstanding options were exercised in march 2004 . no options under the atc mexico plan were outstanding as of december 31 , 2005 . ( see note 11. ) atc south america stock option plan 2014the company maintains a stock option plan in its atc south america subsidiary ( atc south america plan ) . the atc south america plan provides for the issuance of options to officers , employees , directors and consultants of atc south america . the atc south america plan limits the number of shares of common stock which may be granted to an aggregate of 6144 shares , ( an approximate 10.3% ( 10.3 % ) interest on a fully-diluted basis ) , subject to adjustment based on changes in atc south america 2019s capital structure . during 2004 , atc south america granted options to purchase 6024 shares of atc south america common stock to officers and employees , including messrs . gearon and hess , who received options to purchase an approximate 6.7% ( 6.7 % ) and 1.6% ( 1.6 % ) interest , respectively . such options were issued at one time with an exercise price of $ 1349 per share . the exercise price per share was at fair market value on the date of issuance as determined by the board of directors with the assistance of an independent appraisal performed at the company 2019s request . the fair value of atc south america plan options granted during 2004 were $ 79 per share as determined by using the black-scholes option pricing model . options granted vest upon the earlier to occur of ( a ) the exercise by or on behalf of mr . gearon of his right to sell his interest in atc south america to the company , ( b ) the .
Question: what was the percentage change in the stock volatility from 2003 to 2004
Answer: | -0.06928 |
FINQA3573 | Please answer the given financial question based on the context.
Context: containerboard , kraft papers and saturating kraft . kapstone also owns victory packaging , a packaging solutions distribution company with facilities in the u.s. , canada and mexico . we have included the financial results of kapstone in our corrugated packaging segment since the date of the acquisition . on september 4 , 2018 , we completed the acquisition ( the 201cschl fcter acquisition 201d ) of schl fcter print pharma packaging ( 201cschl fcter 201d ) . schl fcter is a leading provider of differentiated paper and packaging solutions and a german-based supplier of a full range of leaflets and booklets . the schl fcter acquisition allowed us to further enhance our pharmaceutical and automotive platform and expand our geographical footprint in europe to better serve our customers . we have included the financial results of the acquired operations in our consumer packaging segment since the date of the acquisition . on january 5 , 2018 , we completed the acquisition ( the 201cplymouth packaging acquisition 201d ) of substantially all of the assets of plymouth packaging , inc . ( 201cplymouth 201d ) . the assets we acquired included plymouth 2019s 201cbox on demand 201d systems , which are manufactured by panotec , an italian manufacturer of packaging machines . the addition of the box on demand systems enhanced our platform , differentiation and innovation . these systems , which are located on customers 2019 sites under multi-year exclusive agreements , use fanfold corrugated to produce custom , on-demand corrugated packaging that is accurately sized for any product type according to the customer 2019s specifications . fanfold corrugated is continuous corrugated board , folded periodically to form an accordion-like stack of corrugated material . as part of the transaction , westrock acquired plymouth 2019s equity interest in panotec and plymouth 2019s exclusive right from panotec to distribute panotec 2019s equipment in the u.s . and canada . we have fully integrated the approximately 60000 tons of containerboard used by plymouth annually . we have included the financial results of plymouth in our corrugated packaging segment since the date of the acquisition . see 201cnote 3 . acquisitions and investment 201d of the notes to consolidated financial statements for additional information . see also item 1a . 201crisk factors 2014 we may be unsuccessful in making and integrating mergers , acquisitions and investments , and completing divestitures 201d . business .
|( in millions )|year ended september 30 , 2019|year ended september 30 , 2018|
|net sales|$ 18289.0|$ 16285.1|
|segment income|$ 1790.2|$ 1707.6|
in fiscal 2019 , we continued to pursue our strategy of offering differentiated paper and packaging solutions that help our customers win . we successfully executed this strategy in fiscal 2019 in a rapidly changing cost and price environment . net sales of $ 18289.0 million for fiscal 2019 increased $ 2003.9 million , or 12.3% ( 12.3 % ) , compared to fiscal 2018 . the increase was primarily due to the kapstone acquisition and higher selling price/mix in our corrugated packaging and consumer packaging segments . these increases were partially offset by the absence of recycling net sales in fiscal 2019 as a result of conducting the operations primarily as a procurement function beginning in the first quarter of fiscal 2019 , lower volumes , unfavorable foreign currency impacts across our segments compared to the prior year and decreased land and development net sales . segment income increased $ 82.6 million in fiscal 2019 compared to fiscal 2018 , primarily due to increased corrugated packaging segment income that was partially offset by lower consumer packaging and land and development segment income . the impact of the contribution from the acquired kapstone operations , higher selling price/mix across our segments and productivity improvements was largely offset by lower volumes across our segments , economic downtime , cost inflation , increased maintenance and scheduled strategic outage expense ( including projects at our mahrt , al and covington , va mills ) and lower land and development segment income due to the wind-down of sales . with respect to segment income , we experienced higher levels of cost inflation in both our corrugated packaging and consumer packaging segments during fiscal 2019 as compared to fiscal 2018 that were partially offset by recovered fiber deflation . the primary inflationary items were virgin fiber , freight , energy and wage and other costs . we generated $ 2310.2 million of net cash provided by operating activities in fiscal 2019 , compared to $ 1931.2 million in fiscal 2018 . we remained committed to our disciplined capital allocation strategy during fiscal .
Question: what percent did net sales increase between 2018 and 2019?
Answer: | 2003.9 |
FINQA3574 | Please answer the given financial question based on the context.
Context: changes in the benchmark index component of the 10-year treasury yield . the company def signated these derivatives as cash flow hedges . on october 13 , 2015 , in conjunction with the pricing of the $ 4.5 billion senior notes , the companyr terminated these treasury lock contracts for a cash settlement payment of $ 16 million , which was recorded as a component of other comprehensive earnings and will be reclassified as an adjustment to interest expense over the ten years during which the related interest payments that were hedged will be recognized in income . foreign currency risk we are exposed to foreign currency risks that arise from normal business operations . these risks include the translation of local currency balances of foreign subsidiaries , transaction gains and losses associated with intercompany loans with foreign subsidiaries and transactions denominated in currencies other than a location's functional currency . we manage the exposure to these risks through a combination of normal operating activities and the use of foreign currency forward contracts . contracts are denominated in currtt encies of major industrial countries . our exposure to foreign currency exchange risks generally arises from our non-u.s . operations , to the extent they are conducted ind local currency . changes in foreign currency exchange rates affect translations of revenues denominated in currencies other than the u.s . dollar . during the years ended december 31 , 2016 , 2015 and 2014 , we generated approximately $ 1909 million , $ 1336 million and $ 1229 million , respectively , in revenues denominated in currencies other than the u.s . dollar . the major currencies to which our revenues are exposed are the brazilian real , the euro , the british pound sterling and the indian rupee . a 10% ( 10 % ) move in average exchange rates for these currencies ( assuming a simultaneous and immediate 10% ( 10 % ) change in all of such rates for the relevant period ) would have resulted in the following increase or ( decrease ) in our reported revenues for the years ended december 31 , 2016 , 2015 and 2014 ( in millions ) : .
|currency|2016|2015|2014|
|pound sterling|$ 47|$ 34|$ 31|
|euro|38|33|30|
|real|32|29|38|
|indian rupee|12|10|8|
|total impact|$ 129|$ 106|$ 107|
while our results of operations have been impacted by the effects of currency fluctuations , our international operations' revenues and expenses are generally denominated in local currency , which reduces our economic exposure to foreign exchange risk in those jurisdictions . revenues included $ 100 million and $ 243 million and net earnings included $ 10 million , anrr d $ 31 million , respectively , of unfavorable foreign currency impact during 2016 and 2015 resulting from a stronger u.s . dollar during these years compared to thet preceding year . in 2017 , we expect continued unfavorable foreign currency impact on our operating income resulting from the continued strengthening of the u.s . dollar vs . other currencies . our foreign exchange risk management policy permits the use of derivative instruments , such as forward contracts and options , to reduce volatility in our results of operations and/or cash flows resulting from foreign exchange rate fluctuations . we do not enter into foreign currency derivative instruments for trading purposes or to engage in speculative activitr y . we do periodically enter inttt o foreign currency forward exchange contracts to hedge foreign currency exposure to intercompany loans . as of december 31 , 2016 , the notional amount of these derivatives was approximately $ 143 million and the fair value was nominal . these derivatives are intended to hedge the foreign exchange risks related to intercompany loans but have not been designated as hedges for accounting purposes . we also use currency forward contracts to manage our exposure to fluctuations in costs caused by variations in indian rupee ( "inr" ) exchange rates . as of december 31 , 2016 , the notional amount of these derivatives was approximately $ 7 million and the fair value was ll less than $ 1 million . these inr forward contracts are designated as cash flow hedges . the fair value of these currency forward contracts is determined using currency exchange market rates , obtained from reliable , independent , third m party banks , at the balance sheet date . the fair value of forward contracts is subject to changes in currency exchange rates . the company has no ineffectiveness related to its use of currency forward contracts in connection with inr cash flow hedges . in conjunction with entering into the definitive agreement to acquire clear2pay in september 2014 , we initiated a foreign currency forward contract to purchase euros and sell u.s . dollars to manage the risk arising from fluctuations in exchange rates until the closing because the purchase price was stated in euros . as this derivative did not qualify for hedge accounting , we recorded a charge of $ 16 million in other income ( expense ) , net during the third quarter of 2014 . this forward contract was settled on october 1 , 2014. .
Question: what was the difference in total impact between 2015 and 2016 , in millions?
Answer: | 23.0 |
FINQA3575 | 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 operations and segmentation 2013 we are a class i railroad operating in the u.s . our network includes 31868 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s . gateways and providing several corridors to key mexican gateways . we own 26020 miles and operate on the remainder pursuant to trackage rights or leases . we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico . export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders . the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment . although we provide and review revenue by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network . the following table provides freight revenue by commodity group : millions 2012 2011 2010 .
|millions|2012|2011|2010|
|agricultural|$ 3280|$ 3324|$ 3018|
|automotive|1807|1510|1271|
|chemicals|3238|2815|2425|
|coal|3912|4084|3489|
|industrial products|3494|3166|2639|
|intermodal|3955|3609|3227|
|total freight revenues|$ 19686|$ 18508|$ 16069|
|other revenues|1240|1049|896|
|total operatingrevenues|$ 20926|$ 19557|$ 16965|
although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s . each of our commodity groups includes revenue from shipments to and from mexico . included in the above table are revenues from our mexico business which amounted to $ 1.9 billion in 2012 , $ 1.8 billion in 2011 , and $ 1.6 billion in 2010 . basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s . ( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) . 2 . significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries . investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting . all intercompany transactions are eliminated . we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements . cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less . accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts . the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions . receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .
Question: did freight revenue in the agricultural group increase at a faster pace in 2012 than in the automotive business?
Answer: | no |
FINQA3576 | Please answer the given financial question based on the context.
Context: fortron industries llc . fortron is a leading global producer of pps , sold under the fortron ae brand , which is used in a wide variety of automotive and other applications , especially those requiring heat and/or chemical resistance . fortron's facility is located in wilmington , north carolina . this venture combines the sales , marketing , distribution , compounding and manufacturing expertise of celanese with the pps polymer technology expertise of kureha america inc . cellulose derivatives strategic ventures . our cellulose derivatives ventures generally fund their operations using operating cash flow and pay dividends based on each ventures' performance in the preceding year . in 2014 , 2013 and 2012 , we received cash dividends of $ 115 million , $ 92 million and $ 83 million , respectively . although our ownership interest in each of our cellulose derivatives ventures exceeds 20% ( 20 % ) , we account for these investments using the cost method of accounting because we determined that we cannot exercise significant influence over these entities due to local government investment in and influence over these entities , limitations on our involvement in the day-to-day operations and the present inability of the entities to provide timely financial information prepared in accordance with generally accepted accounting principles in the united states of america ( "us gaap" ) . 2022 other equity method investments infraservs . we hold indirect ownership interests in several german infraserv groups that own and develop industrial parks and provide on-site general and administrative support to tenants . our ownership interest in the equity investments in infraserv affiliates are as follows : as of december 31 , 2014 ( in percentages ) .
||as of december 31 2014 ( in percentages )|
|infraserv gmbh & co . gendorf kg|39|
|infraserv gmbh & co . hoechst kg|32|
|infraserv gmbh & co . knapsack kg|27|
research and development our businesses are innovation-oriented and conduct research and development activities to develop new , and optimize existing , production technologies , as well as to develop commercially viable new products and applications . research and development expense was $ 86 million , $ 85 million and $ 104 million for the years ended december 31 , 2014 , 2013 and 2012 , respectively . we consider the amounts spent during each of the last three fiscal years on research and development activities to be sufficient to execute our current strategic initiatives . intellectual property we attach importance to protecting our intellectual property , including safeguarding our confidential information and through our patents , trademarks and copyrights , in order to preserve our investment in research and development , manufacturing and marketing . patents may cover processes , equipment , products , intermediate products and product uses . we also seek to register trademarks as a means of protecting the brand names of our company and products . patents . in most industrial countries , patent protection exists for new substances and formulations , as well as for certain unique applications and production processes . however , we do business in regions of the world where intellectual property protection may be limited and difficult to enforce . confidential information . we maintain stringent information security policies and procedures wherever we do business . such information security policies and procedures include data encryption , controls over the disclosure and safekeeping of confidential information and trade secrets , as well as employee awareness training . trademarks . aoplus ae , aoplus ae2 , aoplus ae3 , ateva ae , avicor ae , britecoat ae , celanese ae , celanex ae , celcon ae , celfx 2122 , celstran ae , celvolit ae , clarifoil ae , duroset ae , ecovae ae , factor ae , fortron ae , gur ae , hostaform ae , impet ae , mowilith ae , nutrinova ae , qorus 2122 , riteflex ae , sunett ae , tcx 2122 , thermx ae , tufcor ae , vantage ae , vantageplus 2122 , vantage ae2 , vectra ae , vinamul ae , vitaldose ae , zenite ae and certain other branded products and services named in this document are registered or reserved trademarks or service marks owned or licensed by celanese . the foregoing is not intended to be an exhaustive or comprehensive list of all registered or reserved trademarks and service marks owned or licensed by celanese . fortron ae is a registered trademark of fortron industries llc. .
Question: what is the ratio of the cash dividend to the research and development in 2014
Answer: | 1.33721 |
FINQA3577 | Please answer the given financial question based on the context.
Context: goodwill is reviewed annually during the fourth quarter for impairment . in addition , the company performs an impairment analysis of other intangible assets based on the occurrence of other factors . such factors include , but are not limited to , significant changes in membership , state funding , medical contracts and provider networks and contracts . an impairment loss is recognized if the carrying value of intangible assets exceeds the implied fair value . medical claims liabilities medical services costs include claims paid , claims reported but not yet paid , or inventory , estimates for claims incurred but not yet received , or ibnr , and estimates for the costs necessary to process unpaid claims . the estimates of medical claims liabilities are developed using standard actuarial methods based upon historical data for payment patterns , cost trends , product mix , sea- sonality , utilization of healthcare services and other rele- vant factors including product changes . these estimates are continually reviewed and adjustments , if necessary , are reflected in the period known . management did not change actuarial methods during the years presented . management believes the amount of medical claims payable is reasonable and adequate to cover the company 2019s liability for unpaid claims as of december 31 , 2006 ; however , actual claim payments may differ from established estimates . revenue recognition the company 2019s medicaid managed care segment gener- ates revenues primarily from premiums received from the states in which it operates health plans . the company receives a fixed premium per member per month pursuant to our state contracts . the company generally receives premium payments during the month it provides services and recognizes premium revenue during the period in which it is obligated to provide services to its members . some states enact premium taxes or similar assessments , collectively premium taxes , and these taxes are recorded as general and administrative expenses . some contracts allow for additional premium related to certain supplemen- tal services provided such as maternity deliveries . revenues are recorded based on membership and eligibility data provided by the states , which may be adjusted by the states for updates to this data . these adjustments have been immaterial in relation to total revenue recorded and are reflected in the period known . the company 2019s specialty services segment generates revenues under contracts with state programs , healthcare organizations and other commercial organizations , as well as from our own subsidiaries on market-based terms . revenues are recognized when the related services are provided or as ratably earned over the covered period of service . premium and services revenues collected in advance are recorded as unearned revenue . for performance-based contracts the company does not recognize revenue subject to refund until data is sufficient to measure performance . premiums and service revenues due to the company are recorded as premium and related receivables and are recorded net of an allowance based on historical trends and management 2019s judgment on the collectibility of these accounts . as the company generally receives payments during the month in which services are provided , the allowance is typically not significant in comparison to total revenues and does not have a material impact on the pres- entation of the financial condition or results of operations . activity in the allowance for uncollectible accounts for the years ended december 31 is summarized below: .
||2006|2005|2004|
|allowances beginning of year|$ 343|$ 462|$ 607|
|amounts charged to expense|512|80|407|
|write-offs of uncollectible receivables|-700 ( 700 )|-199 ( 199 )|-552 ( 552 )|
|allowances end of year|$ 155|$ 343|$ 462|
significant customers centene receives the majority of its revenues under con- tracts or subcontracts with state medicaid managed care programs . the contracts , which expire on various dates between june 30 , 2007 and december 31 , 2011 , are expected to be renewed . contracts with the states of georgia , indiana , kansas , texas and wisconsin each accounted for 15% ( 15 % ) , 15% ( 15 % ) , 10% ( 10 % ) , 17% ( 17 % ) and 16% ( 16 % ) , respectively , of the company 2019s revenues for the year ended december 31 , 2006 . reinsurance centene has purchased reinsurance from third parties to cover eligible healthcare services . the current reinsurance program covers 90% ( 90 % ) of inpatient healthcare expenses in excess of annual deductibles of $ 300 to $ 500 per member , up to an annual maximum of $ 2000 . centene 2019s medicaid managed care subsidiaries are responsible for inpatient charges in excess of an average daily per diem . in addition , bridgeway participates in a risk-sharing program as part of its contract with the state of arizona for the reimbursement of certain contract service costs beyond a monetary threshold . reinsurance recoveries were $ 3674 , $ 4014 , and $ 3730 , in 2006 , 2005 , and 2004 , respectively . reinsurance expenses were approximately $ 4842 , $ 4105 , and $ 6724 in 2006 , 2005 , and 2004 , respectively . reinsurance recoveries , net of expenses , are included in medical costs . other income ( expense ) other income ( expense ) consists principally of investment income and interest expense . investment income is derived from the company 2019s cash , cash equivalents , restricted deposits and investments. .
Question: what was the percentage change in year end allowance for uncollectible accounts between 2005 and 2006?
Answer: | -0.5481 |
FINQA3578 | Please answer the given financial question based on the context.
Context: sacramento container acquisition in october 2017 , pca acquired substantially all of the assets of sacramento container corporation , and 100% ( 100 % ) of the membership interests of northern sheets , llc and central california sheets , llc ( collectively referred to as 201csacramento container 201d ) for a purchase price of $ 274 million , including working capital adjustments . funding for the acquisition came from available cash on hand . assets acquired include full-line corrugated products and sheet feeder operations in both mcclellan , california and kingsburg , california . sacramento container provides packaging solutions to customers serving portions of california 2019s strong agricultural market . sacramento container 2019s financial results are included in the packaging segment from the date of acquisition . the company accounted for the sacramento container acquisition using the acquisition method of accounting in accordance with asc 805 , business combinations . the total purchase price has been allocated to tangible and intangible assets acquired and liabilities assumed based on respective fair values , as follows ( dollars in millions ) : .
||12/31/17 allocation|adjustments|revised allocation|
|goodwill|$ 151.1|$ 5.5|$ 156.6|
|other intangible assets|72.6|-5.5 ( 5.5 )|67.1|
|property plant and equipment|26.7|2014|26.7|
|other net assets|23.4|2014|23.4|
|net assets acquired|$ 273.8|$ 2014|$ 273.8|
during the second quarter ended june 30 , 2018 , we made a $ 5.5 million net adjustment based on the final valuation of the intangible assets . we recorded the adjustment as a decrease to other intangible assets with an offset to goodwill . goodwill is calculated as the excess of the purchase price over the fair value of the net assets acquired . among the factors that contributed to the recognition of goodwill were sacramento container 2019s commitment to continuous improvement and regional synergies , as well as the expected increases in pca 2019s containerboard integration levels . goodwill is deductible for tax purposes . other intangible assets , primarily customer relationships , were assigned an estimated weighted average useful life of 9.6 years . property , plant and equipment were assigned estimated useful lives ranging from one to 13 years. .
Question: for the revised total purchase price allocation , goodwill was what percentage of net assets acquired?
Answer: | 0.57195 |
FINQA3579 | Please answer the given financial question based on the context.
Context: a valuation allowance has been established for certain deferred tax assets related to the impairment of investments . accounting for uncertainty in income taxes during fiscal 2011 and 2010 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : beginning balance gross increases in unrecognized tax benefits 2013 prior year tax positions gross decreases in unrecognized tax benefits 2013 prior year tax positions gross increases in unrecognized tax benefits 2013 current year tax positions settlements with taxing authorities lapse of statute of limitations foreign exchange gains and losses ending balance $ 156925 11901 ( 4154 ) 32420 ( 29101 ) ( 3825 ) $ 163607 $ 218040 ( 7104 ) 15108 ( 70484 ) ( 7896 ) $ 156925 as of december 2 , 2011 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 12.3 million . we file income tax returns in the u.s . on a federal basis and in many u.s . state and foreign jurisdictions . we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities . our major tax jurisdictions are the u.s. , ireland and california . for california , ireland and the u.s. , the earliest fiscal years open for examination are 2005 , 2006 and 2008 , respectively . we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examination . we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position . in august 2011 , a canadian income tax examination covering our fiscal years 2005 through 2008 was completed . our accrued tax and interest related to these years was approximately $ 35 million and was previously reported in long-term income taxes payable . we reclassified approximately $ 17 million to short-term income taxes payable and decreased deferred tax assets by approximately $ 18 million in conjunction with the aforementioned resolution . the $ 17 million balance in short-term income taxes payable is partially secured by a letter of credit and is expected to be paid by the first quarter of fiscal 2012 . in october 2010 , a u.s . income tax examination covering our fiscal years 2005 through 2007 was completed . our accrued tax and interest related to these years was $ 59 million and was previously reported in long-term income taxes payable . we paid $ 20 million in conjunction with the aforementioned resolution . a net income statement tax benefit in the fourth quarter of fiscal 2010 of $ 39 million resulted . the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process . these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities . the company believes that before the end of fiscal 2012 , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both . given the uncertainties described above , we can only determine a range of estimated potential decreases in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 40 million . these amounts would decrease income tax expense under current gaap related to income taxes . note 11 . restructuring fiscal 2011 restructuring plan in the fourth quarter of fiscal 2011 , in order to better align our resources around our digital media and digital marketing strategies , we initiated a restructuring plan consisting of reductions of approximately 700 full-time positions worldwide and we recorded restructuring charges of approximately $ 78.6 million related to ongoing termination benefits for the position eliminated . table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .
||2011|2010|
|beginning balance|$ 156925|$ 218040|
|gross increases in unrecognized tax benefits 2013 prior year tax positions|11901|9580|
|gross decreases in unrecognized tax benefits 2013 prior year tax positions|-4154 ( 4154 )|-7104 ( 7104 )|
|gross increases in unrecognized tax benefits 2013 current year tax positions|32420|15108|
|settlements with taxing authorities|-29101 ( 29101 )|-70484 ( 70484 )|
|lapse of statute of limitations|-3825 ( 3825 )|-7896 ( 7896 )|
|foreign exchange gains and losses|-559 ( 559 )|-319 ( 319 )|
|ending balance|$ 163607|$ 156925|
a valuation allowance has been established for certain deferred tax assets related to the impairment of investments . accounting for uncertainty in income taxes during fiscal 2011 and 2010 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : beginning balance gross increases in unrecognized tax benefits 2013 prior year tax positions gross decreases in unrecognized tax benefits 2013 prior year tax positions gross increases in unrecognized tax benefits 2013 current year tax positions settlements with taxing authorities lapse of statute of limitations foreign exchange gains and losses ending balance $ 156925 11901 ( 4154 ) 32420 ( 29101 ) ( 3825 ) $ 163607 $ 218040 ( 7104 ) 15108 ( 70484 ) ( 7896 ) $ 156925 as of december 2 , 2011 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 12.3 million . we file income tax returns in the u.s . on a federal basis and in many u.s . state and foreign jurisdictions . we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities . our major tax jurisdictions are the u.s. , ireland and california . for california , ireland and the u.s. , the earliest fiscal years open for examination are 2005 , 2006 and 2008 , respectively . we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examination . we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position . in august 2011 , a canadian income tax examination covering our fiscal years 2005 through 2008 was completed . our accrued tax and interest related to these years was approximately $ 35 million and was previously reported in long-term income taxes payable . we reclassified approximately $ 17 million to short-term income taxes payable and decreased deferred tax assets by approximately $ 18 million in conjunction with the aforementioned resolution . the $ 17 million balance in short-term income taxes payable is partially secured by a letter of credit and is expected to be paid by the first quarter of fiscal 2012 . in october 2010 , a u.s . income tax examination covering our fiscal years 2005 through 2007 was completed . our accrued tax and interest related to these years was $ 59 million and was previously reported in long-term income taxes payable . we paid $ 20 million in conjunction with the aforementioned resolution . a net income statement tax benefit in the fourth quarter of fiscal 2010 of $ 39 million resulted . the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process . these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities . the company believes that before the end of fiscal 2012 , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both . given the uncertainties described above , we can only determine a range of estimated potential decreases in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 40 million . these amounts would decrease income tax expense under current gaap related to income taxes . note 11 . restructuring fiscal 2011 restructuring plan in the fourth quarter of fiscal 2011 , in order to better align our resources around our digital media and digital marketing strategies , we initiated a restructuring plan consisting of reductions of approximately 700 full-time positions worldwide and we recorded restructuring charges of approximately $ 78.6 million related to ongoing termination benefits for the position eliminated . table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .
Question: what was the average ending balance of allowance for unrecognized tax positions?
Answer: | 160266.0 |
FINQA3580 | Please answer the given financial question based on the context.
Context: $ 25.7 million in cash , including $ 4.2 million in taxes and 1373609 of hep 2019s common units having a fair value of $ 53.5 million . roadrunner / beeson pipelines transaction also on december 1 , 2009 , hep acquired our two newly constructed pipelines for $ 46.5 million , consisting of a 65- mile , 16-inch crude oil pipeline ( the 201croadrunner pipeline 201d ) that connects our navajo refinery lovington facility to a terminus of centurion pipeline l.p . 2019s pipeline extending between west texas and cushing , oklahoma and a 37- mile , 8-inch crude oil pipeline that connects hep 2019s new mexico crude oil gathering system to our navajo refinery lovington facility ( the 201cbeeson pipeline 201d ) . tulsa west loading racks transaction on august 1 , 2009 , hep acquired from us , certain truck and rail loading/unloading facilities located at our tulsa west facility for $ 17.5 million . the racks load refined products and lube oils produced at the tulsa west facility onto rail cars and/or tanker trucks . lovington-artesia pipeline transaction on june 1 , 2009 , hep acquired our newly constructed , 16-inch intermediate pipeline for $ 34.2 million that runs 65 miles from our navajo refinery 2019s crude oil distillation and vacuum facilities in lovington , new mexico to its petroleum refinery located in artesia , new mexico . slc pipeline joint venture interest on march 1 , 2009 , hep acquired a 25% ( 25 % ) joint venture interest in the slc pipeline , a new 95-mile intrastate pipeline system jointly owned with plains . the slc pipeline commenced operations effective march 2009 and allows various refineries in the salt lake city area , including our woods cross refinery , to ship crude oil into the salt lake city area from the utah terminus of the frontier pipeline as well as crude oil flowing from wyoming and utah via plains 2019 rocky mountain pipeline . hep 2019s capitalized joint venture contribution was $ 25.5 million . rio grande pipeline sale on december 1 , 2009 , hep sold its 70% ( 70 % ) interest in rio grande pipeline company ( 201crio grande 201d ) to a subsidiary of enterprise products partners lp for $ 35 million . results of operations of rio grande are presented in discontinued operations . in accounting for this sale , hep recorded a gain of $ 14.5 million and a receivable of $ 2.2 million representing its final distribution from rio grande . the recorded net asset balance of rio grande at december 1 , 2009 , was $ 22.7 million , consisting of cash of $ 3.1 million , $ 29.9 million in properties and equipment , net and $ 10.3 million in equity , representing bp , plc 2019s 30% ( 30 % ) noncontrolling interest . the following table provides income statement information related to hep 2019s discontinued operations : year ended december 31 , 2009 ( in thousands ) .
||year ended december 31 2009 ( in thousands )|
|income from discontinued operations before income taxes|$ 5367|
|income tax expense|-942 ( 942 )|
|income from discontinued operations net|4425|
|gain on sale of discontinued operations before income taxes|14479|
|income tax expense|-1978 ( 1978 )|
|gain on sale of discontinued operations net|12501|
|income from discontinued operations net|$ 16926|
transportation agreements hep serves our refineries under long-term pipeline and terminal , tankage and throughput agreements expiring in 2019 through 2026 . under these agreements , we pay hep fees to transport , store and throughput volumes of refined product and crude oil on hep 2019s pipeline and terminal , tankage and loading rack facilities that result in minimum annual payments to hep . under these agreements , the agreed upon tariff rates are subject to annual tariff rate adjustments on july 1 at a rate based upon the percentage change in producer price index ( 201cppi 201d ) or federal energy .
Question: what was the tax rate on the gain on sale of discontinued operations before income taxes
Answer: | 0.13661 |
FINQA3581 | Please answer the given financial question based on the context.
Context: 2000 non-employee director stock option plan ( the 201cdirector stock option plan 201d ) , and the global payments inc . 2011 incentive plan ( the 201c2011 plan 201d ) ( collectively , the 201cplans 201d ) . we made no further grants under the 2000 plan after the 2005 plan was effective , and the director stock option plan expired by its terms on february 1 , 2011 . we will make no future grants under the 2000 plan , the 2005 plan or the director stock option plan . the 2011 plan permits grants of equity to employees , officers , directors and consultants . a total of 14.0 million shares of our common stock was reserved and made available for issuance pursuant to awards granted under the 2011 plan . the following table summarizes share-based compensation expense and the related income tax benefit recognized for our share-based awards and stock options ( in thousands ) : 2016 2015 2014 ( in thousands ) .
||2016|2015 ( in thousands )|2014|
|share-based compensation expense|$ 30809|$ 21056|$ 29793|
|income tax benefit|$ 9879|$ 6907|$ 7126|
we grant various share-based awards pursuant to the plans under what we refer to as our 201clong-term incentive plan . 201d the awards are held in escrow and released upon the grantee 2019s satisfaction of conditions of the award certificate . restricted stock restricted stock awards vest over a period of time , provided , however , that if the grantee is not employed by us on the vesting date , the shares are forfeited . restricted shares cannot be sold or transferred until they have vested . restricted stock granted before fiscal 2015 vests in equal installments on each of the first four anniversaries of the grant date . restricted stock granted during fiscal 2015 and thereafter either vest in equal installments on each of the first three anniversaries of the grant date or cliff vest at the end of a three-year service period . the grant date fair value of restricted stock , which is based on the quoted market value of our common stock at the closing of the award date , is recognized as share-based compensation expense on a straight-line basis over the vesting period . performance units certain of our executives have been granted performance units under our long-term incentive plan . performance units are performance-based restricted stock units that , after a performance period , convert into common shares , which may be restricted . the number of shares is dependent upon the achievement of certain performance measures during the performance period . the target number of performance units and any market-based performance measures ( 201cat threshold , 201d 201ctarget , 201d and 201cmaximum 201d ) are set by the compensation committee of our board of directors . performance units are converted only after the compensation committee certifies performance based on pre-established goals . the performance units granted to certain executives in fiscal 2014 were based on a one-year performance period . after the compensation committee certified the performance results , 25% ( 25 % ) of the performance units converted to unrestricted shares . the remaining 75% ( 75 % ) converted to restricted shares that vest in equal installments on each of the first three anniversaries of the conversion date . the performance units granted to certain executives during fiscal 2015 and fiscal 2016 were based on a three-year performance period . after the compensation committee certifies the performance results for the three-year period , performance units earned will convert into unrestricted common stock . the compensation committee may set a range of possible performance-based outcomes for performance units . depending on the achievement of the performance measures , the grantee may earn up to 200% ( 200 % ) of the target number of shares . for awards with only performance conditions , we recognize compensation expense on a straight-line basis over the performance period using the grant date fair value of the award , which is based on the number of shares expected to be earned according to the level of achievement of performance goals . if the number of shares expected to be earned were to change at any time during the performance period , we would make a cumulative adjustment to share-based compensation expense based on the revised number of shares expected to be earned . global payments inc . | 2016 form 10-k annual report 2013 83 .
Question: what is the estimated effective tax rate applied for share-based compensation expense in 2015?
Answer: | 0.32803 |
FINQA3582 | Please answer the given financial question based on the context.
Context: stock performance graph the following line-graph presentation compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 stock index for the past five years . the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s information technology index , and the standard & poor 2019s 500 stock index on may 31 , 2002 and assumes reinvestment of all dividends . comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index 5/02 5/03 5/04 5/05 5/06 5/07 global payments inc . s&p 500 s&p information technology * $ 100 invested on 5/31/02 in stock or index-including reinvestment of dividends . fiscal year ending may 31 . global payments s&p 500 information technology .
||global payments|s&p 500|s&p information technology|
|may 31 2002|$ 100.00|$ 100.00|$ 100.00|
|may 31 2003|94.20|91.94|94.48|
|may 31 2004|129.77|108.79|115.24|
|may 31 2005|193.30|117.75|116.29|
|may 31 2006|260.35|127.92|117.14|
|may 31 2007|224.24|157.08|144.11|
issuer purchases of equity securities on april 5 , 2007 , our board of directors authorized repurchases of our common stock in an amount up to $ 100 million . the board has authorized us to purchase shares from time to time as market conditions permit . there is no expiration date with respect to this authorization . no amounts have been repurchased during the fiscal year ended may 31 , 2007. .
Question: in comparison to overall information technology sector , how much percentage would global payments have earned the investor .
Answer: | 80.13 |
FINQA3583 | 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 , 2009 , the company 2019s overall weighted average interest rate for long-term debt was 3.51% ( 3.51 % ) on a contractual basis and 3.91% ( 3.91 % ) 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|2010|2011|2012|2013|2014|thereafter|
|citigroup parent company|$ 18030|$ 20435|$ 29706|$ 17775|$ 18916|$ 92942|
|other citigroup subsidiaries|18710|29316|17214|5177|12202|14675|
|citigroup global markets holdings inc .|1315|1030|1686|388|522|8481|
|citigroup funding inc .|9107|8875|20738|4792|3255|8732|
|total|$ 47162|$ 59656|$ 69344|$ 28132|$ 34895|$ 124830|
long-term debt at december 31 , 2009 and december 31 , 2008 includes $ 19345 million and $ 24060 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 of the long-term debt junior subordinated debt and at december 31 , 2009 compared to december 31 , 2008
Answer: | 0.80403 |
FINQA3584 | Please answer the given financial question based on the context.
Context: stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , scripps network interactive , inc . ( acquired by the company in march 2018 ) , time warner , inc . ( acquired by at&t inc . in june 2018 ) , twenty-first century fox , inc . class a common stock ( news corporation class a common stock prior to june 2013 ) , viacom , inc . class b common stock and the walt disney company . the graph assumes $ 100 originally invested on december 31 , 2013 in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the years ended december 31 , 2014 , 2015 , 2016 , 2017 and 2018 . two peer companies , scripps networks interactive , inc . and time warner , inc. , were acquired in 2018 . the stock performance chart shows the peer group including scripps networks interactive , inc . and time warner , inc . and excluding both acquired companies for the entire five year period . december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
||december 312013|december 312014|december 312015|december 312016|december 312017|december 312018|
|disca|$ 100.00|$ 74.58|$ 57.76|$ 59.34|$ 48.45|$ 53.56|
|discb|$ 100.00|$ 80.56|$ 58.82|$ 63.44|$ 53.97|$ 72.90|
|disck|$ 100.00|$ 80.42|$ 60.15|$ 63.87|$ 50.49|$ 55.04|
|s&p 500|$ 100.00|$ 111.39|$ 110.58|$ 121.13|$ 144.65|$ 135.63|
|peer group incl . acquired companies|$ 100.00|$ 116.64|$ 114.02|$ 127.96|$ 132.23|$ 105.80|
|peer group ex . acquired companies|$ 100.00|$ 113.23|$ 117.27|$ 120.58|$ 127.90|$ 141.58|
equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2019 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference. .
Question: what was the percentage cumulative total shareholder return on discb for the five year period ended december 31 , 2018?
Answer: | -0.271 |
FINQA3585 | Please answer the given financial question based on the context.
Context: 56 / 57 management 2019s discussion and analysis of financial condition and results of operations junior subordinate deferrable interest debentures in june 2005 , we issued $ 100.0 a0million of trust preferred securities , which are reflected on the balance sheet as junior subordinate deferrable interest debentures . the proceeds were used to repay our revolving credit facility . the $ 100.0 a0million of junior subordi- nate deferrable interest debentures have a 30-year term ending july 2035 . they bear interest at a fixed rate of 5.61% ( 5.61 % ) for the first 10 years ending july 2015 . thereafter , the rate will float at three month libor plus 1.25% ( 1.25 % ) . the securities are redeemable at par . restrictive covenants the terms of the 2011 revolving credit facility and certain of our senior unsecured notes include certain restrictions and covenants which may limit , among other things , our ability to pay dividends ( as discussed below ) , make certain types of investments , incur additional indebtedness , incur liens and enter into negative pledge agreements and the disposition of assets , and which require compliance with financial ratios including our minimum tangible net worth , a maximum ratio of total indebtedness to total asset value , a minimum ratio of ebitda to fixed charges and a maximum ratio of unsecured indebtedness to unencumbered asset value . the dividend restriction referred to above provides that we will not during any time when we are in default , make distributions with respect to common stock or other equity interests , except to enable us to continue to qualify as a reit for federal income tax purposes . as of december a031 , 2011 and 2010 , we were in compli- ance with all such covenants . market rate risk we are exposed to changes in interest rates primarily from our floating rate borrowing arrangements . we use interest rate deriv- ative instruments to manage exposure to interest rate changes . a a0hypothetical 100 a0basis point increase in interest rates along the entire interest rate curve for 2011 and 2010 , would increase our annual interest cost by approximately $ 12.3 a0million and $ 11.0 a0mil- lion and would increase our share of joint venture annual interest cost by approximately $ 4.8 a0million and $ 6.7 a0million , respectively . we recognize all derivatives on the balance sheet at fair value . derivatives that are not hedges must be adjusted to fair value through income . if a derivative is a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earnings , or recognized in other comprehensive income until the hedged item is recognized in earnings . the ineffective portion of a derivative 2019s change in fair value is recognized immediately in earnings . approximately $ 4.8 a0billion of our long- term debt bore interest a0at fixed rates , and therefore the fair value of these instru- ments is affected by changes in the market interest rates . the interest rate on our variable rate debt and joint venture debt as of december a031 , 2011 ranged from libor plus 150 a0basis points to libor plus 350 a0basis points . contractual obligations combined aggregate principal maturities of mortgages and other loans payable , our 2011 revolving credit facility , senior unsecured notes ( net of discount ) , trust preferred securities , our share of joint venture debt , including as- of-right extension options , estimated interest expense ( based on weighted average interest rates for the quarter ) , and our obligations under our capital lease and ground leases , as of december a031 , 2011 are as follows ( in thousands ) : .
||2012|2013|2014|2015|2016|thereafter|total|
|property mortgages|$ 52443|$ 568649|$ 647776|$ 270382|$ 556400|$ 2278190|$ 4373840|
|revolving credit facility|2014|2014|2014|2014|350000|2014|350000|
|trust preferred securities|2014|2014|2014|2014|2014|100000|100000|
|senior unsecured notes|119423|2014|98578|657|274804|777194|1270656|
|capital lease|1555|1555|1555|1592|1707|42351|50315|
|ground leases|33429|33429|33429|33429|33533|615450|782699|
|estimated interest expense|312672|309280|269286|244709|212328|470359|1818634|
|joint venture debt|176457|93683|123983|102476|527814|800102|1824515|
|total|$ 695979|$ 1006596|$ 1174607|$ 653245|$ 1956586|$ 5083646|$ 10570659|
.
Question: what percentage of total obligations is the property mortgages and ground leases obligations?
Answer: | 5156539.0 |
FINQA3586 | Please answer the given financial question based on the context.
Context: jpmorgan chase & co./2014 annual report 125 lending-related commitments the firm uses lending-related financial instruments , such as commitments ( including revolving credit facilities ) and guarantees , to meet the financing needs of its customers . the contractual amounts of these financial instruments represent the maximum possible credit risk should the counterparties draw down on these commitments or the firm fulfills its obligations under these guarantees , and the counterparties subsequently fail to perform according to the terms of these contracts . in the firm 2019s view , the total contractual amount of these wholesale lending-related commitments is not representative of the firm 2019s actual future credit exposure or funding requirements . in determining the amount of credit risk exposure the firm has to wholesale lending-related commitments , which is used as the basis for allocating credit risk capital to these commitments , the firm has established a 201cloan-equivalent 201d amount for each commitment ; this amount represents the portion of the unused commitment or other contingent exposure that is expected , based on average portfolio historical experience , to become drawn upon in an event of a default by an obligor . the loan-equivalent amount of the firm 2019s lending- related commitments was $ 229.6 billion and $ 218.9 billion as of december 31 , 2014 and 2013 , respectively . clearing services the firm provides clearing services for clients entering into securities and derivative transactions . through the provision of these services the firm is exposed to the risk of non-performance by its clients and may be required to share in losses incurred by central counterparties ( 201cccps 201d ) . where possible , the firm seeks to mitigate its credit risk to its clients through the collection of adequate margin at inception and throughout the life of the transactions and can also cease provision of clearing services if clients do not adhere to their obligations under the clearing agreement . for further discussion of clearing services , see note 29 . derivative contracts in the normal course of business , the firm uses derivative instruments predominantly for market-making activities . derivatives enable customers to manage exposures to fluctuations in interest rates , currencies and other markets . the firm also uses derivative instruments to manage its own credit exposure . the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed . for otc derivatives the firm is exposed to the credit risk of the derivative counterparty . for exchange-traded derivatives ( 201cetd 201d ) such as futures and options , and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp . where possible , the firm seeks to mitigate its credit risk exposures arising from derivative transactions through the use of legally enforceable master netting arrangements and collateral agreements . for further discussion of derivative contracts , counterparties and settlement types , see note 6 . the following table summarizes the net derivative receivables for the periods presented . derivative receivables .
|december 31 ( in millions )|2014|2013|
|interest rate|$ 33725|$ 25782|
|credit derivatives|1838|1516|
|foreign exchange|21253|16790|
|equity|8177|12227|
|commodity|13982|9444|
|total net of cash collateral|78975|65759|
|liquid securities and other cash collateral held against derivative receivables|-19604 ( 19604 )|-14435 ( 14435 )|
|total net of all collateral|$ 59371|$ 51324|
derivative receivables reported on the consolidated balance sheets were $ 79.0 billion and $ 65.8 billion at december 31 , 2014 and 2013 , respectively . these amounts represent the fair value of the derivative contracts , after giving effect to legally enforceable master netting agreements and cash collateral held by the firm . however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s . government and agency securities and other g7 government bonds ) and other cash collateral held by the firm aggregating $ 19.6 billion and $ 14.4 billion at december 31 , 2014 and 2013 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor . in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily : cash ; g7 government securities ; other liquid government-agency and guaranteed securities ; and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date . although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative transactions move in the firm 2019s favor . as of december 31 , 2014 and 2013 , the firm held $ 48.6 billion and $ 50.8 billion , respectively , of this additional collateral . the prior period amount has been revised to conform with the current period presentation . the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit . for additional information on the firm 2019s use of collateral agreements , see note 6. .
Question: based on the summary of the net derivative receivables what was the percent of of the foreign exchange
Answer: | 0.35797 |
FINQA3587 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements minority partner approves the annual budget , receives a detailed monthly reporting package from us , meets with us on a quarterly basis to review the results of the joint venture , reviews and approves the joint venture 2019s tax return before filing , and approves all leases that cover more than a nominal amount of space relative to the total rentable space at each property we do not consolidate the joint venture as we consider these to be substantive participation rights . our joint venture agreements also contain certain pro- tective rights such as the requirement of partner approval to sell , finance or refinance the property and the payment of capital expenditures and operating expenditures outside of the approved budget or operating plan . the table below provides general information on each joint venture as of december 31 , 2009 ( in thousands ) : property partner ownership interest economic interest square feet acquired acquisition price ( 1 ) 1221 avenue of the americas ( 2 ) rgii 45.00% ( 45.00 % ) 45.00% ( 45.00 % ) 2550 12/03 $ 1000000 1515 broadway ( 3 ) sitq 55.00% ( 55.00 % ) 68.45% ( 68.45 % ) 1750 05/02 $ 483500 .
|property|partner|ownership interest|economic interest|square feet|acquired|acquisition price ( 1 )|
|1221 avenue of the americas ( 2 )|rgii|45.00% ( 45.00 % )|45.00% ( 45.00 % )|2550|12/03|$ 1000000|
|1515 broadway ( 3 )|sitq|55.00% ( 55.00 % )|68.45% ( 68.45 % )|1750|05/02|$ 483500|
|100 park avenue|prudential|49.90% ( 49.90 % )|49.90% ( 49.90 % )|834|02/00|$ 95800|
|379 west broadway|sutton|45.00% ( 45.00 % )|45.00% ( 45.00 % )|62|12/05|$ 19750|
|21 west 34thstreet ( 4 )|sutton|50.00% ( 50.00 % )|50.00% ( 50.00 % )|30|07/05|$ 22400|
|800 third avenue ( 5 )|private investors|42.95% ( 42.95 % )|42.95% ( 42.95 % )|526|12/06|$ 285000|
|521 fifth avenue|cif|50.10% ( 50.10 % )|50.10% ( 50.10 % )|460|12/06|$ 240000|
|one court square|jp morgan|30.00% ( 30.00 % )|30.00% ( 30.00 % )|1402|01/07|$ 533500|
|1604-1610 broadway ( 6 )|onyx/sutton|45.00% ( 45.00 % )|63.00% ( 63.00 % )|30|11/05|$ 4400|
|1745 broadway ( 7 )|witkoff/sitq/lehman bros .|32.26% ( 32.26 % )|32.26% ( 32.26 % )|674|04/07|$ 520000|
|1 and 2 jericho plaza|onyx/credit suisse|20.26% ( 20.26 % )|20.26% ( 20.26 % )|640|04/07|$ 210000|
|2 herald square ( 8 )|gramercy|55.00% ( 55.00 % )|55.00% ( 55.00 % )|354|04/07|$ 225000|
|885 third avenue ( 9 )|gramercy|55.00% ( 55.00 % )|55.00% ( 55.00 % )|607|07/07|$ 317000|
|16 court street|cif|35.00% ( 35.00 % )|35.00% ( 35.00 % )|318|07/07|$ 107500|
|the meadows ( 10 )|onyx|50.00% ( 50.00 % )|50.00% ( 50.00 % )|582|09/07|$ 111500|
|388 and 390 greenwich street ( 11 )|sitq|50.60% ( 50.60 % )|50.60% ( 50.60 % )|2600|12/07|$ 1575000|
|27-29 west 34thstreet ( 12 )|sutton|50.00% ( 50.00 % )|50.00% ( 50.00 % )|41|01/06|$ 30000|
|1551-1555 broadway ( 13 )|sutton|10.00% ( 10.00 % )|10.00% ( 10.00 % )|26|07/05|$ 80100|
|717 fifth avenue ( 14 )|sutton/nakash|32.75% ( 32.75 % )|32.75% ( 32.75 % )|120|09/06|$ 251900|
the meadows ( 10 ) onyx 50.00% ( 50.00 % ) 50.00% ( 50.00 % ) 582 09/07 $ 111500 388 and 390 greenwich street ( 11 ) sitq 50.60% ( 50.60 % ) 50.60% ( 50.60 % ) 2600 12/07 $ 1575000 27 201329 west 34th street ( 12 ) sutton 50.00% ( 50.00 % ) 50.00% ( 50.00 % ) 41 01/06 $ 30000 1551 20131555 broadway ( 13 ) sutton 10.00% ( 10.00 % ) 10.00% ( 10.00 % ) 26 07/05 $ 80100 717 fifth avenue ( 14 ) sutton/nakash 32.75% ( 32.75 % ) 32.75% ( 32.75 % ) 120 09/06 $ 251900 ( 1 ) acquisition price represents the actual or implied purchase price for the joint venture . ( 2 ) we acquired our interest from the mcgraw-hill companies , or mhc . mhc is a tenant at the property and accounted for approximately 14.7% ( 14.7 % ) of the property 2019s annualized rent at december 31 , 2009 . we do not manage this joint venture . ( 3 ) under a tax protection agreement established to protect the limited partners of the partnership that transferred 1515 broadway to the joint venture , the joint venture has agreed not to adversely affect the limited partners 2019 tax positions before december 2011 . one tenant , whose leases primarily ends in 2015 , represents approximately 77.4% ( 77.4 % ) of this joint venture 2019s annualized rent at december 31 , 2009 . ( 4 ) effective november 2006 , we deconsolidated this investment . as a result of the recapitalization of the property , we were no longer the primary beneficiary . both partners had the same amount of equity at risk and neither partner controlled the joint venture . ( 5 ) we invested approximately $ 109.5 million in this asset through the origination of a loan secured by up to 47% ( 47 % ) of the interests in the property 2019s ownership , with an option to convert the loan to an equity interest . certain existing members have the right to re-acquire approximately 4% ( 4 % ) of the property 2019s equity . these interests were re-acquired in december 2008 and reduced our interest to 42.95% ( 42.95 % ) ( 6 ) effective april 2007 , we deconsolidated this investment . as a result of the recapitalization of the property , we were no longer the primary beneficiary . both partners had the same amount of equity at risk and neither partner controlled the joint venture . ( 7 ) we have the ability to syndicate our interest down to 14.79% ( 14.79 % ) . ( 8 ) we , along with gramercy , together as tenants-in-common , acquired a fee interest in 2 herald square . the fee interest is subject to a long-term operating lease . ( 9 ) we , along with gramercy , together as tenants-in-common , acquired a fee and leasehold interest in 885 third avenue . the fee and leasehold interests are subject to a long-term operating lease . ( 10 ) we , along with onyx acquired the remaining 50% ( 50 % ) interest on a pro-rata basis in september 2009 . ( 11 ) the property is subject to a 13-year triple-net lease arrangement with a single tenant . ( 12 ) effective may 2008 , we deconsolidated this investment . as a result of the recapitalization of the property , we were no longer the primary beneficiary . both partners had the same amount of equity at risk and neither partner controlled the joint venture . ( 13 ) effective august 2008 , we deconsolidated this investment . as a result of the sale of 80% ( 80 % ) of our interest , the joint venture was no longer a vie . ( 14 ) effective september 2008 , we deconsolidated this investment . as a result of the recapitalization of the property , we were no longer the primary beneficiary. .
Question: what was the total value of the 1745 broadway property as of april 2007 based on the acquisition price?
Answer: | 1611903285.80285 |
FINQA3588 | Please answer the given financial question based on the context.
Context: item 4 . submission of matters to a vote of security holders no matters were submitted to a vote of security holders during the fourth quarter of 2005 . part ii item 5 . market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities market information our series a common stock has traded on the new york stock exchange under the symbol 2018 2018ce 2019 2019 since january 21 , 2005 . the closing sale price of our series a common stock , as reported by the new york stock exchange , on march 6 , 2006 was $ 20.98 . the following table sets forth the high and low intraday sales prices per share of our common stock , as reported by the new york stock exchange , for the periods indicated. .
|2005|pricerange high|pricerange low|
|quarterended march 312005|$ 18.65|$ 15.10|
|quarter endedjune 302005|$ 18.16|$ 13.54|
|quarter endedseptember 30 2005|$ 20.06|$ 15.88|
|quarter endeddecember 312005|$ 19.76|$ 15.58|
holders no shares of celanese 2019s series b common stock are issued and outstanding . as of march 6 , 2006 , there were 51 holders of record of our series a common stock , and one holder of record of our perpetual preferred stock . by including persons holding shares in broker accounts under street names , however , we estimate our shareholder base to be approximately 6800 as of march 6 , 2006 . dividend policy in july 2005 , our board of directors adopted a policy of declaring , subject to legally available funds , a quarterly cash dividend on each share of our common stock at an annual rate initially equal to approximately 1% ( 1 % ) of the $ 16 price per share in the initial public offering of our series a common stock ( or $ 0.16 per share ) unless our board of directors , in its sole discretion , determines otherwise , commencing the second quarter of 2005 . pursuant to this policy , the company paid the quarterly dividends of $ 0.04 per share on august 11 , 2005 , november 1 , 2005 and february 1 , 2006 . based on the number of outstanding shares of our series a common stock , the anticipated annual cash dividend is approximately $ 25 million . however , there is no assurance that sufficient cash will be available in the future to pay such dividend . further , such dividends payable to holders of our series a common stock cannot be declared or paid nor can any funds be set aside for the payment thereof , unless we have paid or set aside funds for the payment of all accumulated and unpaid dividends with respect to the shares of our preferred stock , as described below . our board of directors may , at any time , modify or revoke our dividend policy on our series a common stock . we are required under the terms of the preferred stock to pay scheduled quarterly dividends , subject to legally available funds . for so long as the preferred stock remains outstanding , ( 1 ) we will not declare , pay or set apart funds for the payment of any dividend or other distribution with respect to any junior stock or parity stock and ( 2 ) neither we , nor any of our subsidiaries , will , subject to certain exceptions , redeem , purchase or otherwise acquire for consideration junior stock or parity stock through a sinking fund or otherwise , in each case unless we have paid or set apart funds for the payment of all accumulated and unpaid dividends with respect to the shares of preferred stock and any parity stock for all preceding dividend periods . pursuant to this policy , the company paid the quarterly dividends of $ 0.265625 on its 4.25% ( 4.25 % ) convertible perpetual preferred stock on august 1 , 2005 , november 1 , 2005 and february 1 , 2006 . the anticipated annual cash dividend is approximately $ 10 million. .
Question: what is the maximum variance during the quarter ended in march 31 , 2005?
Answer: | 3.55 |
FINQA3589 | Please answer the given financial question based on the context.
Context: version 5 2022 9/11/14 2022 last revised by : saul bernstein 68 the est{e lauder companies inc . correlations calculated over the past 250-day period . the high , low and average measured value-at-risk during fiscal 2014 related to our foreign exchange contracts is as follows: .
|( in millions )|year ended june 30 2014 high|year ended june 30 2014 low|year ended june 30 2014 average|
|foreign exchange contracts|$ 27.4|$ 7.4|$ 18.9|
foreign exchange contracts $ 27.4 $ 7.4 $ 18.9 the model estimates were made assuming normal market conditions and a 95 percent confidence level . we used a statistical simulation model that valued our derivative financial instruments against one thousand randomly gen- erated market price paths . our calculated value-at-risk exposure represents an estimate of reasonably possible net losses that would be recognized on our portfolio of derivative financial instruments assuming hypothetical movements in future market rates and is not necessarily indicative of actual results , which may or may not occur . it does not represent the maximum possible loss or any expected loss that may occur , since actual future gains and losses will differ from those estimated , based upon actual fluctuations in market rates , operating exposures , and the timing thereof , and changes in our portfolio of derivative financial instruments during the year . we believe , however , that any such loss incurred would be offset by the effects of market rate movements on the respective underlying transactions for which the deriva- tive financial instrument was intended . off-balance sheet arrangements we do not maintain any off-balance sheet arrangements , transactions , obligations or other relationships with unconsolidated entities , other than operating leases , that would be expected to have a material current or future effect upon our financial condition or results of operations . recently issued accounting standards refer to 201cnote 2 2014 summary of significant accounting policies 201d of notes to consolidated financial statements for discussion regarding the impact of accounting stan- dards that were recently issued but not yet effective , on our consolidated financial statements . forward-looking information we and our representatives from time to time make written or oral forward-looking statements , including statements contained in this and other filings with the securities and exchange commission , in our press releases and in our reports to stockholders . the words and phrases 201cwill likely result , 201d 201cexpect , 201d 201cbelieve , 201d 201cplanned , 201d 201cmay , 201d 201cshould , 201d 201ccould , 201d 201canticipate , 201d 201cestimate , 201d 201cproject , 201d 201cintend , 201d 201cforecast 201d or similar expressions are intended to identify 201cforward-looking statements 201d within the meaning of the private securities litigation reform act of 1995 . these statements include , without limitation , our expectations regarding sales , earn- ings or other future financial performance and liquidity , product introductions , entry into new geographic regions , information systems initiatives , new methods of sale , our long-term strategy , restructuring and other charges and resulting cost savings , and future operations or operating results . although we believe that our expectations are based on reasonable assumptions within the bounds of our knowledge of our business and operations , actual results may differ materially from our expectations . factors that could cause actual results to differ from expectations include , without limitation : ( 1 ) increased competitive activity from companies in the skin care , makeup , fragrance and hair care businesses , some of which have greater resources than we do ; ( 2 ) our ability to develop , produce and market new prod- ucts on which future operating results may depend and to successfully address challenges in our business ; ( 3 ) consolidations , restructurings , bankruptcies and reorganizations in the retail industry causing a decrease in the number of stores that sell our products , an increase in the ownership concentration within the retail industry , ownership of retailers by our competitors or ownership of competitors by our customers that are retailers and our inability to collect receivables ; ( 4 ) destocking and tighter working capital management by retailers ; ( 5 ) the success , or changes in timing or scope , of new product launches and the success , or changes in the tim- ing or the scope , of advertising , sampling and merchan- dising programs ; ( 6 ) shifts in the preferences of consumers as to where and how they shop for the types of products and services we sell ; ( 7 ) social , political and economic risks to our foreign or domestic manufacturing , distribution and retail opera- tions , including changes in foreign investment and trade policies and regulations of the host countries and of the united states ; 77840es_fin.indd 68 9/12/14 5:11 pm .
Question: what is the variation observed in the high and average foreign exchange contracts , in millions of dollars?
Answer: | 8.5 |
FINQA3590 | Please answer the given financial question based on the context.
Context: the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2014 estimated expense as a baseline . table 29 : pension expense 2013 sensitivity analysis change in assumption ( a ) estimated increase/ ( decrease ) to 2014 pension expense ( in millions ) .
|change in assumption ( a )|estimated increase/ ( decrease ) to 2014 pension expense ( in millions )|
|.5% ( .5 % ) decrease in discount rate|$ -2 ( 2 )|
|.5% ( .5 % ) decrease in expected long-term return on assets|$ 21|
|.5% ( .5 % ) increase in compensation rate|$ 1|
( 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 2014 . 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 . recourse and repurchase obligations as discussed in note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements in item 8 of this report , pnc has sold commercial mortgage , residential mortgage and home equity loans directly or indirectly through securitization and loan sale transactions in which we have continuing involvement . one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets . commercial mortgage loan recourse obligations we originate , close and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s delegated underwriting and servicing ( dus ) program . we participated in a similar program with the fhlmc . our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment . for more information regarding our commercial mortgage loan recourse obligations , see the recourse and repurchase obligations section of note 24 commitments and guarantees included in the notes to consolidated financial statements in item 8 of this report . residential mortgage repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors . these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements . residential mortgage loans covered by these loan repurchase obligations include first and second-lien mortgage loans we have sold through agency securitizations , non-agency securitizations , and loan sale transactions . as discussed in note 3 in the notes to consolidated financial statements in item 8 of this report , agency securitizations consist of mortgage loan sale transactions with fnma , fhlmc and the government national mortgage association ( gnma ) , while non-agency securitizations consist of mortgage loan sale transactions with private investors . mortgage loan sale transactions that are not part of a securitization may involve fnma , fhlmc or private investors . our historical exposure and activity associated with agency securitization repurchase obligations has primarily been related to transactions with fnma and fhlmc , as indemnification and repurchase losses associated with fha and va-insured and uninsured loans pooled in gnma securitizations historically have been minimal . repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment . loan covenants and representations and warranties are established through loan sale agreements with various investors to provide assurance that pnc has sold loans that are of sufficient investment quality . key aspects of such covenants and representations and warranties include the loan 2019s compliance with any applicable loan criteria established for the transaction , including underwriting standards , delivery of all required loan documents to the investor or its designated party , sufficient collateral valuation and the validity of the lien securing the loan . as a result of alleged breaches of these contractual obligations , investors may request pnc to indemnify them against losses on certain loans or to repurchase loans . we investigate every investor claim on a loan by loan basis to determine the existence of a legitimate claim and that all other conditions for indemnification or repurchase have been met prior to the settlement with that investor . indemnifications for loss or loan repurchases typically occur when , after review of the claim , we agree insufficient evidence exists to dispute the investor 2019s claim that a breach of a loan covenant and representation and warranty has occurred , such breach has not been cured and the effect of such breach is deemed to have had a material and adverse effect on the value of the transferred loan . depending on the sale agreement and upon proper notice from the investor , we typically respond to such indemnification and repurchase requests within 60 days , although final resolution of the claim may take a longer period of time . with the exception of the sales agreements associated the pnc financial services group , inc . 2013 form 10-k 67 .
Question: for 2014 , is the pension expense impact of a .5% ( .5 % ) decrease in expected long-term return on assets larger than a .5% ( .5 % ) increase in compensation rate?
Answer: | yes |
FINQA3591 | Please answer the given financial question based on the context.
Context: cash payments for federal , state , and foreign income taxes were $ 238.3 million , $ 189.5 million , and $ 90.7 million for the years ended december 31 , 2015 , 2014 , and 2013 , respectively . the following table summarizes the changes related to pca 2019s gross unrecognized tax benefits excluding interest and penalties ( dollars in millions ) : .
||2015|2014|2013|
|balance as of january 1|$ -4.4 ( 4.4 )|$ -5.4 ( 5.4 )|$ -111.3 ( 111.3 )|
|increase related to acquisition of boise inc . ( a )|2014|2014|-65.2 ( 65.2 )|
|increases related to prior years 2019 tax positions|-2.8 ( 2.8 )|-1.0 ( 1.0 )|-0.1 ( 0.1 )|
|increases related to current year tax positions|-0.4 ( 0.4 )|-0.3 ( 0.3 )|-1.5 ( 1.5 )|
|decreases related to prior years' tax positions ( b )|2014|0.9|64.8|
|settlements with taxing authorities ( c )|0.7|0.5|106.2|
|expiration of the statute of limitations|1.1|0.9|1.7|
|balance at december 31|$ -5.8 ( 5.8 )|$ -4.4 ( 4.4 )|$ -5.4 ( 5.4 )|
( a ) in 2013 , pca acquired $ 65.2 million of gross unrecognized tax benefits from boise inc . that related primarily to the taxability of the alternative energy tax credits . ( b ) the 2013 amount includes a $ 64.3 million gross decrease related to the taxability of the alternative energy tax credits claimed in 2009 excise tax returns by boise inc . for further discussion regarding these credits , see note 7 , alternative energy tax credits . ( c ) the 2013 amount includes a $ 104.7 million gross decrease related to the conclusion of the internal revenue service audit of pca 2019s alternative energy tax credits . for further discussion regarding these credits , see note 7 , alternative energy tax credits . at december 31 , 2015 , pca had recorded a $ 5.8 million gross reserve for unrecognized tax benefits , excluding interest and penalties . of the total , $ 4.2 million ( net of the federal benefit for state taxes ) would impact the effective tax rate if recognized . pca recognizes interest accrued related to unrecognized tax benefits and penalties as income tax expense . at december 31 , 2015 and 2014 , we had an insignificant amount of interest and penalties recorded for unrecognized tax benefits included in the table above . pca does not expect the unrecognized tax benefits to change significantly over the next 12 months . pca is subject to taxation in the united states and various state and foreign jurisdictions . a federal examination of the tax years 2010 2014 2012 was concluded in february 2015 . a federal examination of the 2013 tax year began in october 2015 . the tax years 2014 2014 2015 remain open to federal examination . the tax years 2011 2014 2015 remain open to state examinations . some foreign tax jurisdictions are open to examination for the 2008 tax year forward . through the boise acquisition , pca recorded net operating losses and credit carryforwards from 2008 through 2011 and 2013 that are subject to examinations and adjustments for at least three years following the year in which utilized . 7 . alternative energy tax credits the company generates black liquor as a by-product of its pulp manufacturing process , which entitled it to certain federal income tax credits . when black liquor is mixed with diesel , it is considered an alternative fuel that was eligible for a $ 0.50 per gallon refundable alternative energy tax credit for gallons produced before december 31 , 2009 . black liquor was also eligible for a $ 1.01 per gallon taxable cellulosic biofuel producer credit for gallons of black liquor produced and used in 2009 . in 2013 , we reversed $ 166.0 million of a reserve for unrecognized tax benefits for alternative energy tax credits as a benefit to income taxes . approximately $ 103.9 million ( $ 102.0 million of tax , net of the federal benefit for state taxes , plus $ 1.9 million of accrued interest ) of the reversal is due to the completion of the irs .
Question: how many federal examinations were concluded in february 2015?
Answer: | 2.0 |
FINQA3592 | 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 canada from 2010 to 2011?
Answer: | -0.09762 |
FINQA3593 | Please answer the given financial question based on the context.
Context: for additional information on segment results see page 43 . income from equity method investments increased by $ 126 million in 2006 from 2005 and increased by $ 98 million in 2005 from 2004 . income from our lpg operations in equatorial guinea increased in both periods due to higher sales volumes as a result of the plant expansions completed in 2005 . the increase in 2005 also included higher ptc income as a result of higher distillate gross margins . cost of revenues increased $ 4.609 billion in 2006 from 2005 and $ 7.106 billion in 2005 from 2004 . in both periods the increases were primarily in the rm&t segment and resulted from increases in acquisition costs of crude oil , refinery charge and blend stocks and purchased refined products . the increase in both periods was also impacted by higher manufacturing expenses , primarily the result of higher contract services and labor costs in 2006 and higher purchased energy costs in 2005 . purchases related to matching buy/sell transactions decreased $ 6.968 billion in 2006 from 2005 and increased $ 3.314 billion in 2005 from 2004 , mostly in the rm&t segment . the decrease in 2006 was primarily related to the change in accounting for matching buy/sell transactions discussed above . the increase in 2005 was primarily due to increased crude oil prices . depreciation , depletion and amortization increased $ 215 million in 2006 from 2005 and $ 125 million in 2005 from 2004 . rm&t segment depreciation expense increased in both years as a result of the increase in asset value recorded for our acquisition of the 38 percent interest in mpc on june 30 , 2005 . in addition , the detroit refinery expansion completed in the fourth quarter of 2005 contributed to the rm&t depreciation expense increase in 2006 . e&p segment depreciation expense for 2006 included a $ 20 million impairment of capitalized costs related to the camden hills field in the gulf of mexico and the associated canyon express pipeline . natural gas production from the camden hills field ended in 2006 as a result of increased water production from the well . selling , general and administrative expenses increased $ 73 million in 2006 from 2005 and $ 134 million in 2005 from 2004 . the 2006 increase was primarily because personnel and staffing costs increased throughout the year primarily as a result of variable compensation arrangements and increased business activity . partially offsetting these increases were reductions in stock-based compensation expense . the increase in 2005 was primarily a result of increased stock-based compensation expense , due to the increase in our stock price during that year as well as an increase in equity-based awards , which was partially offset by a decrease in expense as a result of severance and pension plan curtailment charges and start-up costs related to egholdings in 2004 . exploration expenses increased $ 148 million in 2006 from 2005 and $ 59 million in 2005 from 2004 . exploration expense related to dry wells and other write-offs totaled $ 166 million , $ 111 million and $ 47 million in 2006 , 2005 and 2004 . exploration expense in 2006 also included $ 47 million for exiting the cortland and empire leases in nova scotia . net interest and other financing costs ( income ) reflected a net $ 37 million of income for 2006 , a favorable change of $ 183 million from the net $ 146 million expense in 2005 . net interest and other financing costs decreased $ 16 million in 2005 from 2004 . the favorable changes in 2006 included increased interest income due to higher interest rates and average cash balances , foreign currency exchange gains , adjustments to interest on tax issues and greater capitalized interest . the decrease in expense for 2005 was primarily a result of increased interest income on higher average cash balances and greater capitalized interest , partially offset by increased interest on potential tax deficiencies and higher foreign exchange losses . included in net interest and other financing costs ( income ) are foreign currency gains of $ 16 million , losses of $ 17 million and gains of $ 9 million for 2006 , 2005 and 2004 . minority interest in income of mpc decreased $ 148 million in 2005 from 2004 due to our acquisition of the 38 percent interest in mpc on june 30 , 2005 . provision for income taxes increased $ 2.308 billion in 2006 from 2005 and $ 979 million in 2005 from 2004 , primarily due to the $ 4.259 billion and $ 2.691 billion increases in income from continuing operations before income taxes . the increase in our effective income tax rate in 2006 was primarily a result of the income taxes related to our libyan operations , where the statutory income tax rate is in excess of 90 percent . the following is an analysis of the effective income tax rates for continuing operations for 2006 , 2005 and 2004 . see note 11 to the consolidated financial statements for further discussion. .
||2006|2005|2004|
|statutory u.s . income tax rate|35.0% ( 35.0 % )|35.0% ( 35.0 % )|35.0% ( 35.0 % )|
|effects of foreign operations including foreign tax credits|9.9|-0.8 ( 0.8 )|0.5|
|state and local income taxes net of federal income tax effects|1.9|2.5|1.6|
|other tax effects|-2.0 ( 2.0 )|-0.4 ( 0.4 )|-0.9 ( 0.9 )|
|effective income tax rate for continuing operations|44.8% ( 44.8 % )|36.3% ( 36.3 % )|36.2% ( 36.2 % )|
.
Question: what was the average percent of foreign operations including foreign tax credits for the three year period?
Answer: | 3.2 |
FINQA3594 | Please answer the given financial question based on the context.
Context: the aeronautics segment generally includes fewer programs that have much larger sales and operating results than programs included in the other segments . due to the large number of comparatively smaller programs in the remaining segments , the discussion of the results of operations of those business segments focuses on lines of business within the segment rather than on specific programs . the following tables of financial information and related discussion of the results of operations of our business segments are consistent with the presentation of segment information in note 5 to the financial statements . we have a number of programs that are classified by the u.s . government and cannot be specifically described . the operating results of these classified programs are included in our consolidated and business segment results , and are subjected to the same oversight and internal controls as our other programs . aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support , and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles , and related technologies . key combat aircraft programs include the f-35 lightning ii , f-16 fighting falcon , and f-22 raptor fighter aircraft . key air mobility programs include the c-130j super hercules and the c-5m super galaxy . aeronautics provides logistics support , sustainment , and upgrade modification services for its aircraft . aeronautics 2019 operating results included the following : ( in millions ) 2010 2009 2008 .
|( in millions )|2010|2009|2008|
|net sales|$ 13235|$ 12201|$ 11473|
|operating profit|1502|1577|1433|
|operating margin|11.3% ( 11.3 % )|12.9% ( 12.9 % )|12.5% ( 12.5 % )|
|backlog at year-end|27500|26700|27200|
net sales for aeronautics increased by 8% ( 8 % ) in 2010 compared to 2009 . sales increased in all three lines of business during the year . the $ 800 million increase in air mobility primarily was attributable to higher volume on c-130 programs , including deliveries and support activities , as well as higher volume on the c-5 reliability enhancement and re-engining program ( rerp ) . there were 25 c-130j deliveries in 2010 compared to 16 in 2009 . the $ 179 million increase in combat aircraft principally was due to higher volume on f-35 production contracts , which partially was offset by lower volume on the f-35 sdd contract and a decline in volume on f-16 , f-22 and other combat aircraft programs . there were 20 f-16 deliveries in 2010 compared to 31 in 2009 . the $ 55 million increase in other aeronautics programs mainly was due to higher volume on p-3 and advanced development programs , which partially were offset by a decline in volume on sustainment activities . net sales for aeronautics increased by 6% ( 6 % ) in 2009 compared to 2008 . during the year , sales increased in all three lines of business . the increase of $ 296 million in air mobility 2019s sales primarily was attributable to higher volume on the c-130 programs , including deliveries and support activities . there were 16 c-130j deliveries in 2009 and 12 in 2008 . combat aircraft sales increased $ 316 million principally due to higher volume on the f-35 program and increases in f-16 deliveries , which partially were offset by lower volume on f-22 and other combat aircraft programs . there were 31 f-16 deliveries in 2009 compared to 28 in 2008 . the $ 116 million increase in other aeronautics programs mainly was due to higher volume on p-3 programs and advanced development programs , which partially were offset by declines in sustainment activities . operating profit for the segment decreased by 5% ( 5 % ) in 2010 compared to 2009 . a decline in operating profit in combat aircraft partially was offset by increases in other aeronautics programs and air mobility . the $ 149 million decrease in combat aircraft 2019s operating profit primarily was due to lower volume and a decrease in the level of favorable performance adjustments on the f-22 program , the f-35 sdd contract and f-16 and other combat aircraft programs in 2010 . these decreases more than offset increased operating profit resulting from higher volume and improved performance on f-35 production contracts in 2010 . the $ 35 million increase in other aeronautics programs mainly was attributable to higher volume and improved performance on p-3 and advanced development programs as well as an increase in the level of favorable performance adjustments on sustainment activities in 2010 . the $ 19 million increase in air mobility operating profit primarily was due to higher volume and improved performance in 2010 on c-130j support activities , which more than offset a decrease in operating profit due to a lower level of favorable performance adjustments on c-130j deliveries in 2010 . the remaining change in operating profit is attributable to an increase in other income , net between the comparable periods . aeronautics 2019 2010 operating margins have decreased when compared to 2009 . the operating margin decrease reflects the life cycles of our significant programs . specifically , aeronautics is performing more development and initial production work on the f-35 program and is performing less work on more mature programs such as the f-22 and f-16 . development and initial production contracts yield lower profits than mature full rate programs . accordingly , while net sales increased in 2010 relative to 2009 , operating profit decreased and consequently operating margins have declined. .
Question: what were average net sales for aeronautics in millions from 2008 to 2010?
Answer: | 12303.0 |
FINQA3595 | Please answer the given financial question based on the context.
Context: table of contents concentrations in the available sources of supply of materials and product although most components essential to the company 2019s business are generally available from multiple sources , a number of components are currently obtained from single or limited sources . in addition , the company competes for various components with other participants in the markets for mobile communication and media devices and personal computers . therefore , many components used by the company , including those that are available from multiple sources , are at times subject to industry-wide shortage and significant pricing fluctuations that could materially adversely affect the company 2019s financial condition and operating results . the company uses some custom components that are not commonly used by its competitors , and new products introduced by the company often utilize custom components available from only one source . when a component or product uses new technologies , initial capacity constraints may exist until the suppliers 2019 yields have matured or manufacturing capacity has increased . if the company 2019s supply of components for a new or existing product were delayed or constrained , or if an outsourcing partner delayed shipments of completed products to the company , the company 2019s financial condition and operating results could be materially adversely affected . the company 2019s business and financial performance could also be materially adversely affected depending on the time required to obtain sufficient quantities from the original source , or to identify and obtain sufficient quantities from an alternative source . continued availability of these components at acceptable prices , or at all , may be affected if those suppliers concentrated on the production of common components instead of components customized to meet the company 2019s requirements . the company has entered into agreements for the supply of many components ; however , there can be no guarantee that the company will be able to extend or renew these agreements on similar terms , or at all . therefore , the company remains subject to significant risks of supply shortages and price increases that could materially adversely affect its financial condition and operating results . substantially all of the company 2019s hardware products are manufactured by outsourcing partners that are located primarily in asia . a significant concentration of this manufacturing is currently performed by a small number of outsourcing partners , often in single locations . certain of these outsourcing partners are the sole-sourced suppliers of components and manufacturers for many of the company 2019s products . although the company works closely with its outsourcing partners on manufacturing schedules , the company 2019s operating results could be adversely affected if its outsourcing partners were unable to meet their production commitments . the company 2019s purchase commitments typically cover its requirements for periods up to 150 days . other off-balance sheet commitments operating leases the company leases various equipment and facilities , including retail space , under noncancelable operating lease arrangements . the company does not currently utilize any other off-balance sheet financing arrangements . the major facility leases are typically for terms not exceeding 10 years and generally contain multi-year renewal options . leases for retail space are for terms ranging from five to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options . as of september 27 , 2014 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 5.0 billion , of which $ 3.6 billion related to leases for retail space . rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 717 million , $ 645 million and $ 488 million in 2014 , 2013 and 2012 , respectively . future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 27 , 2014 , are as follows ( in millions ) : apple inc . | 2014 form 10-k | 75 .
|2015|$ 662|
|2016|676|
|2017|645|
|2018|593|
|2019|534|
|thereafter|1877|
|total|$ 4987|
.
Question: what was the change in rent expense under all operating leases , including both cancelable and noncancelable leases between 2014 and 2012 , in millions?
Answer: | 229.0 |
FINQA3596 | Please answer the given financial question based on the context.
Context: mortgage banking activities the company enters into commitments to originate loans whereby the interest rate on the loan is determined prior to funding . these commitments are referred to as interest rate lock commitments ( 201cirlcs 201d ) . irlcs on loans that the company intends to sell are considered to be derivatives and are , therefore , recorded at fair value with changes in fair value recorded in earnings . for purposes of determining fair value , the company estimates the fair value of an irlc based on the estimated fair value of the underlying mortgage loan and the probability that the mortgage loan will fund within the terms of the irlc . the fair value excludes the market value associated with the anticipated sale of servicing rights related to each loan commitment . the fair value of these irlcs was a $ 0.06 million and a $ 0.02 million liability at december 31 , 2007 and 2006 , respectively . the company also designates fair value relationships of closed loans held-for-sale against a combination of mortgage forwards and short treasury positions . short treasury relationships are economic hedges , rather than fair value or cash flow hedges . short treasury positions are marked-to-market , but do not receive hedge accounting treatment under sfas no . 133 , as amended . the mark-to-market of the mortgage forwards is included in the net change of the irlcs and the related hedging instruments . the fair value of the mark-to-market on closed loans was a $ 1.2 thousand and $ 1.7 million asset at december 31 , 2007 and 2006 , respectively . irlcs , as well as closed loans held-for-sale , expose the company to interest rate risk . the company manages this risk by selling mortgages or mortgage-backed securities on a forward basis referred to as forward sale agreements . changes in the fair value of these derivatives are included as gain ( loss ) on loans and securities , net in the consolidated statement of income ( loss ) . the net change in irlcs , closed loans , mortgage forwards and the short treasury positions generated a net loss of $ 2.4 million in 2007 , a net gain of $ 1.6 million in 2006 and a net loss of $ 0.4 million in 2005 . credit risk credit risk is managed by limiting activity to approved counterparties and setting aggregate exposure limits for each approved counterparty . the credit risk , or maximum exposure , which results from interest rate swaps and purchased interest rate options is represented by the fair value of contracts that have unrealized gains at the reporting date . conversely , we have $ 197.5 million of derivative contracts with unrealized losses at december 31 , 2007 . the company pledged approximately $ 87.4 million of its mortgage-backed securities as collateral of derivative contracts . while the company does not expect that any counterparty will fail to perform , the following table shows the maximum exposure associated with each counterparty to interest rate swaps and purchased interest rate options at december 31 , 2007 ( dollars in thousands ) : counterparty credit .
|counterparty|credit risk|
|bank of america|$ 48161|
|lehman brothers|29136|
|jp morgan|18878|
|union bank of switzerland|15562|
|credit suisse first boston|11047|
|royal bank of scotland|6164|
|morgan stanley|2215|
|salomon brothers|1943|
|total exposure|$ 133106|
.
Question: what was the ratio of the derivative contracts at december 31 , 2007 to mortgage-backed securities as collateral of derivative contracts .
Answer: | 2.25973 |
FINQA3597 | Please answer the given financial question based on the context.
Context: mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the company does not make any contributions to its postretirement plan other than funding benefits payments . the following table summarizes expected net benefit payments from the company 2019s general assets through 2018 : benefit payments expected subsidy receipts benefit payments .
||benefit payments|expected subsidy receipts|net benefit payments|
|2009|$ 2641|$ 77|$ 2564|
|2010|3139|91|3048|
|2011|3561|115|3446|
|2012|3994|140|3854|
|2013|4357|169|4188|
|2014 2013 2018|25807|1269|24538|
the company provides limited postemployment benefits to eligible former u.s . employees , primarily severance under a formal severance plan ( the 201cseverance plan 201d ) . the company accounts for severance expense in accordance with sfas no . 112 , 201cemployers 2019 accounting for postemployment benefits 201d by accruing the expected cost of the severance benefits expected to be provided to former employees after employment over their relevant service periods . the company updates the assumptions in determining the severance accrual by evaluating the actual severance activity and long-term trends underlying the assumptions . as a result of updating the assumptions , the company recorded severance expense ( benefit ) related to the severance plan of $ 2643 , $ ( 3418 ) and $ 8400 , respectively , during the years 2008 , 2007 and 2006 . the company has an accrued liability related to the severance plan and other severance obligations in the amount of $ 63863 and $ 56172 at december 31 , 2008 and 2007 , respectively . note 13 . debt on april 28 , 2008 , the company extended its committed unsecured revolving credit facility , dated as of april 28 , 2006 ( the 201ccredit facility 201d ) , for an additional year . the new expiration date of the credit facility is april 26 , 2011 . the available funding under the credit facility will remain at $ 2500000 through april 27 , 2010 and then decrease to $ 2000000 during the final year of the credit facility agreement . other terms and conditions in the credit facility remain unchanged . the company 2019s option to request that each lender under the credit facility extend its commitment was provided pursuant to the original terms of the credit facility agreement . borrowings under the facility are available to provide liquidity in the event of one or more settlement failures by mastercard international customers and , subject to a limit of $ 500000 , for general corporate purposes . a facility fee of 8 basis points on the total commitment , or approximately $ 2030 , is paid annually . interest on borrowings under the credit facility would be charged at the london interbank offered rate ( libor ) plus an applicable margin of 37 basis points or an alternative base rate , and a utilization fee of 10 basis points would be charged if outstanding borrowings under the facility exceed 50% ( 50 % ) of commitments . the facility fee and borrowing cost are contingent upon the company 2019s credit rating . the company also agreed to pay upfront fees of $ 1250 and administrative fees of $ 325 for the credit facility which are being amortized straight- line over three years . facility and other fees associated with the credit facility or prior facilities totaled $ 2353 , $ 2477 and $ 2717 for each of the years ended december 31 , 2008 , 2007 and 2006 , respectively . mastercard was in compliance with the covenants of the credit facility and had no borrowings under the credit facility at december 31 , 2008 or december 31 , 2007 . the majority of credit facility lenders are customers or affiliates of customers of mastercard international . in june 1998 , mastercard international issued ten-year unsecured , subordinated notes ( the 201cnotes 201d ) paying a fixed interest rate of 6.67% ( 6.67 % ) per annum . mastercard repaid the entire principal amount of $ 80000 on june 30 .
Question: what was the percent of the expected subsidy receipts to the expected benefit payments
Answer: | 0.02916 |
FINQA3598 | Please answer the given financial question based on the context.
Context: the changes in the gross amount of unrecognized tax benefits for the year ended december 29 , 2007 are as follows: .
||( in thousands )|
|balance as of december 31 2006|$ 337226|
|gross amount of the decreases in unrecognized tax benefits of tax positions taken during a prior year|-31608 ( 31608 )|
|gross amount of the increases in unrecognized tax benefits as a result of tax positions taken during the current year|7764|
|amount of decreases in unrecognized tax benefits relating to settlements with taxing authorities|-6001 ( 6001 )|
|reductions to unrecognized tax benefits resulting from the lapse of the applicable statute of limitations|-511 ( 511 )|
|balance as of december 29 2007|$ 306870|
as of december 29 , 2007 , $ 228.4 million of unrecognized tax benefits would , if recognized , reduce the effective tax rate , as compared to $ 232.1 million as of december 31 , 2006 , the first day of cadence 2019s fiscal year . the total amounts of interest and penalties recognized in the consolidated income statement for the year ended december 29 , 2007 resulted in net tax benefits of $ 11.1 million and $ 0.4 million , respectively , primarily due to the effective settlement of tax audits during the year . the total amounts of gross accrued interest and penalties recognized in the consolidated balance sheets as of december 29 , 2007 , were $ 47.9 million and $ 9.7 million , respectively as compared to $ 65.8 million and $ 10.1 million , respectively as of december 31 , 2006 . note 9 . acquisitions for each of the acquisitions described below , the results of operations and the estimated fair value of the assets acquired and liabilities assumed have been included in cadence 2019s consolidated financial statements from the date of the acquisition . comparative pro forma financial information for all 2007 , 2006 and 2005 acquisitions have not been presented because the results of operations were not material to cadence 2019s consolidated financial statements . 2007 acquisitions during 2007 , cadence acquired invarium , inc. , a san jose-based developer of advanced lithography-modeling and pattern-synthesis technology , and clear shape technologies , inc. , a san jose-based design for manufacturing technology company specializing in design-side solutions to minimize yield loss for advanced semiconductor integrated circuits . cadence acquired these two companies for an aggregate purchase price of $ 75.5 million , which included the payment of cash , the fair value of assumed options and acquisition costs . the $ 45.7 million of goodwill recorded in connection with these acquisitions is not expected to be deductible for income tax purposes . prior to acquiring clear shape technologies , inc. , cadence had an investment of $ 2.0 million in the company , representing a 12% ( 12 % ) ownership interest , which had been accounted for under the cost method of accounting . in accordance with sfas no . 141 , 201cbusiness combinations , 201d cadence accounted for this acquisition as a step acquisition . subsequent adjustments to the purchase price of these acquired companies are included in the 201cother 201d line of the changes of goodwill table in note 10 below . 2006 acquisition in march 2006 , cadence acquired a company for an aggregate initial purchase price of $ 25.8 million , which included the payment of cash , the fair value of assumed options and acquisition costs . the preliminary allocation of the purchase price was recorded as $ 17.4 million of goodwill , $ 9.4 million of identifiable intangible assets and $ ( 1.0 ) million of net liabilities . the $ 17.4 million of goodwill recorded in connection with this acquisition is not expected to be deductible for income tax purposes . subsequent adjustments to the purchase price of this acquired company are included in the 201cother 201d line of the changes of goodwill table in note 10 below. .
Question: what percentage of the aggregate purchase price for the company in 2006 is goodwill?
Answer: | 0.67442 |
FINQA3599 | 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 current?
Answer: | 0.20597 |
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