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FINQA3600 | Please answer the given financial question based on the context.
Context: note 8 2013 debt our long-term debt consisted of the following ( in millions ) : .
||2012|2011|
|notes with rates from 2.13% ( 2.13 % ) to 6.15% ( 6.15 % ) due 2016 to 2042|$ 5642|$ 5308|
|notes with rates from 7.00% ( 7.00 % ) to 7.75% ( 7.75 % ) due 2013 to 2036|1080|1239|
|other debt|478|19|
|total long-term debt|7200|6966|
|less : unamortized discounts|-892 ( 892 )|-506 ( 506 )|
|total long-term debt net of unamortized discounts|6308|6460|
|less : current maturities of long-term debt|-150 ( 150 )|2014|
|total long-term debt net|$ 6158|$ 6460|
in december 2012 , we issued notes totaling $ 1.3 billion with a fixed interest rate of 4.07% ( 4.07 % ) maturing in december 2042 ( the new notes ) in exchange for outstanding notes totaling $ 1.2 billion with interest rates ranging from 5.50% ( 5.50 % ) to 8.50% ( 8.50 % ) maturing in 2023 to 2040 ( the old notes ) . in connection with the exchange , we paid a premium of $ 393 million , of which $ 225 million was paid in cash and $ 168 million was in the form of new notes . this premium , in addition to $ 194 million in remaining unamortized discounts related to the old notes , will be amortized as additional interest expense over the term of the new notes using the effective interest method . we may , at our option , redeem some or all of the new notes at any time by paying the principal amount of notes being redeemed plus a make-whole premium and accrued and unpaid interest . interest on the new notes is payable on june 15 and december 15 of each year , beginning on june 15 , 2013 . the new notes are unsecured senior obligations and rank equally in right of payment with all of our existing and future unsecured and unsubordinated indebtedness . on september 9 , 2011 , we issued $ 2.0 billion of long-term notes in a registered public offering consisting of $ 500 million maturing in 2016 with a fixed interest rate of 2.13% ( 2.13 % ) , $ 900 million maturing in 2021 with a fixed interest rate of 3.35% ( 3.35 % ) , and $ 600 million maturing in 2041 with a fixed interest rate of 4.85% ( 4.85 % ) . we may , at our option , redeem some or all of the notes at any time by paying the principal amount of notes being redeemed plus a make-whole premium and accrued and unpaid interest . interest on the notes is payable on march 15 and september 15 of each year , beginning on march 15 , 2012 . in october 2011 , we used a portion of the proceeds to redeem all of our $ 500 million long-term notes maturing in 2013 . in 2011 , we repurchased $ 84 million of our long-term notes through open-market purchases . we paid premiums of $ 48 million in connection with the early extinguishments of debt , which were recognized in other non-operating income ( expense ) , net . in august 2011 , we entered into a $ 1.5 billion revolving credit facility with a group of banks and terminated our existing $ 1.5 billion revolving credit facility that was to expire in june 2012 . the credit facility expires august 2016 , and we may request and the banks may grant , at their discretion , an increase to the credit facility by an additional amount up to $ 500 million . there were no borrowings outstanding under either facility through december 31 , 2012 . borrowings under the 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 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 , 2012 , 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 banking institutions to provide for the issuance of commercial paper . there were no commercial paper borrowings outstanding during 2012 or 2011 . if we were to issue commercial paper , the borrowings would be supported by the credit facility . during the next five years , we have scheduled long-term debt maturities of $ 150 million due in 2013 and $ 952 million due in 2016 . interest payments were $ 378 million in 2012 , $ 326 million in 2011 , and $ 337 million in 2010. .
Question: what was the percent change of the total long-term debt from 2011 to 2012
Answer: | 0.03359 |
FINQA3601 | Please answer the given financial question based on the context.
Context: republic services , inc . notes to consolidated financial statements 2014 ( continued ) in december 2008 , the board of directors amended and restated the republic services , inc . 2006 incentive stock plan ( formerly known as the allied waste industries , inc . 2006 incentive stock plan ( the 2006 plan ) ) . allied 2019s stockholders approved the 2006 plan in may 2006 . the 2006 plan was amended and restated in december 2008 to reflect that republic services , inc . is the new sponsor of the plan , that any references to shares of common stock is to shares of common stock of republic services , inc. , and to adjust outstanding awards and the number of shares available under the plan to reflect the acquisition . the 2006 plan , as amended and restated , provides for the grant of non-qualified stock options , incentive stock options , shares of restricted stock , shares of phantom stock , stock bonuses , restricted stock units , stock appreciation rights , performance awards , dividend equivalents , cash awards , or other stock-based awards . awards granted under the 2006 plan prior to december 5 , 2008 became fully vested and nonforfeitable upon the closing of the acquisition . awards may be granted under the 2006 plan , as amended and restated , after december 5 , 2008 only to employees and consultants of allied waste industries , inc . and its subsidiaries who were not employed by republic services , inc . prior to such date . at december 31 , 2012 , there were approximately 15.5 million shares of common stock reserved for future grants under the 2006 plan . stock options we use a binomial option-pricing model to value our stock option grants . we recognize compensation expense on a straight-line basis over the requisite service period for each separately vesting portion of the award , or to the employee 2019s retirement eligible date , if earlier . expected volatility is based on the weighted average of the most recent one year volatility and a historical rolling average volatility of our stock over the expected life of the option . the risk-free interest rate is based on federal reserve rates in effect for bonds with maturity dates equal to the expected term of the option . we use historical data to estimate future option exercises , forfeitures ( at 3.0% ( 3.0 % ) for each of the period presented ) and expected life of the options . when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes . the weighted-average estimated fair values of stock options granted during the years ended december 31 , 2012 , 2011 and 2010 were $ 4.77 , $ 5.35 and $ 5.28 per option , respectively , which were calculated using the following weighted-average assumptions: .
||2012|2011|2010|
|expected volatility|27.8% ( 27.8 % )|27.3% ( 27.3 % )|28.6% ( 28.6 % )|
|risk-free interest rate|0.8% ( 0.8 % )|1.7% ( 1.7 % )|2.4% ( 2.4 % )|
|dividend yield|3.2% ( 3.2 % )|2.7% ( 2.7 % )|2.9% ( 2.9 % )|
|expected life ( in years )|4.5|4.4|4.3|
|contractual life ( in years )|7.0|7.0|7.0|
.
Question: what was the percent of the change in the dividend yield from 2011 to 2012
Answer: | 0.18519 |
FINQA3602 | Please answer the given financial question based on the context.
Context: incentive compensation cost the following table shows components of compensation expense , relating to certain of the incentive compensation programs described above : in a0millions a0of a0dollars 2018 2017 2016 charges for estimated awards to retirement-eligible employees $ 669 $ 659 $ 555 amortization of deferred cash awards , deferred cash stock units and performance stock units 202 354 336 immediately vested stock award expense ( 1 ) 75 70 73 amortization of restricted and deferred stock awards ( 2 ) 435 474 509 .
|in millions of dollars|2018|2017|2016|
|charges for estimated awards to retirement-eligible employees|$ 669|$ 659|$ 555|
|amortization of deferred cash awards deferred cash stock units and performance stock units|202|354|336|
|immediately vested stock award expense ( 1 )|75|70|73|
|amortization of restricted and deferred stock awards ( 2 )|435|474|509|
|other variable incentive compensation|640|694|710|
|total|$ 2021|$ 2251|$ 2183|
( 1 ) represents expense for immediately vested stock awards that generally were stock payments in lieu of cash compensation . the expense is generally accrued as cash incentive compensation in the year prior to grant . ( 2 ) all periods include amortization expense for all unvested awards to non-retirement-eligible employees. .
Question: what percentage of total compensation expense in 2018 is composed of other variable incentive compensation?
Answer: | 0.31667 |
FINQA3603 | Please answer the given financial question based on the context.
Context: table of contents the foreign provision for income taxes is based on foreign pre-tax earnings of $ 33.6 billion , $ 30.5 billion and $ 36.8 billion in 2014 , 2013 and 2012 , respectively . the company 2019s consolidated financial statements provide for any related tax liability on undistributed earnings that the company does not intend to be indefinitely reinvested outside the u.s . substantially all of the company 2019s undistributed international earnings intended to be indefinitely reinvested in operations outside the u.s . were generated by subsidiaries organized in ireland , which has a statutory tax rate of 12.5% ( 12.5 % ) . as of september 27 , 2014 , u.s . income taxes have not been provided on a cumulative total of $ 69.7 billion of such earnings . the amount of unrecognized deferred tax liability related to these temporary differences is estimated to be approximately $ 23.3 billion . as of september 27 , 2014 and september 28 , 2013 , $ 137.1 billion and $ 111.3 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s . dollar-denominated holdings . amounts held by foreign subsidiaries are generally subject to u.s . income taxation on repatriation to the u.s . a reconciliation of the provision for income taxes , with the amount computed by applying the statutory federal income tax rate ( 35% ( 35 % ) in 2014 , 2013 and 2012 ) to income before provision for income taxes for 2014 , 2013 and 2012 , is as follows ( dollars in millions ) : the company 2019s income taxes payable have been reduced by the tax benefits from employee stock plan awards . for stock options , the company receives an income tax benefit calculated as the tax effect of the difference between the fair market value of the stock issued at the time of the exercise and the exercise price . for rsus , the company receives an income tax benefit upon the award 2019s vesting equal to the tax effect of the underlying stock 2019s fair market value . the company had net excess tax benefits from equity awards of $ 706 million , $ 643 million and $ 1.4 billion in 2014 , 2013 and 2012 , respectively , which were reflected as increases to common stock . apple inc . | 2014 form 10-k | 64 .
||2014|2013|2012|
|computed expected tax|$ 18719|$ 17554|$ 19517|
|state taxes net of federal effect|469|508|677|
|indefinitely invested earnings of foreign subsidiaries|-4744 ( 4744 )|-4614 ( 4614 )|-5895 ( 5895 )|
|research and development credit net|-88 ( 88 )|-287 ( 287 )|-103 ( 103 )|
|domestic production activities deduction|-495 ( 495 )|-308 ( 308 )|-328 ( 328 )|
|other|112|265|162|
|provision for income taxes|$ 13973|$ 13118|$ 14030|
|effective tax rate|26.1% ( 26.1 % )|26.2% ( 26.2 % )|25.2% ( 25.2 % )|
.
Question: what was the change between september 27 , 2014 and september 28 , 2013 of the company 2019s cash , cash equivalents and marketable securities held by foreign subsidiaries based in u.s . dollar-denominated holdings , in billions?
Answer: | 25.8 |
FINQA3604 | Please answer the given financial question based on the context.
Context: notes receivable in 2014 , we entered into a $ 3.0 million promissory note with a privately held company which was recorded at cost . the interest rate on the promissory note is 8.0% ( 8.0 % ) per annum and is payable quarterly . all unpaid principal and accrued interest on the promissory note is due and payable on the earlier of august 26 , 2017 , or upon default . 5 . commitments and contingencies operating leases we lease various operating spaces in north america , europe , asia and australia under non-cancelable operating lease arrangements that expire on various dates through 2024 . these arrangements require us to pay certain operating expenses , such as taxes , repairs , and insurance and contain renewal and escalation clauses . we recognize rent expense under these arrangements on a straight-line basis over the term of the lease . as of december 31 , 2015 , the aggregate future minimum payments under non-cancelable operating leases consist of the following ( in thousands ) : years ending december 31 .
|2016|$ 6306|
|2017|6678|
|2018|6260|
|2019|5809|
|2020|5580|
|thereafter|21450|
|total minimum future lease payments|$ 52083|
rent expense for all operating leases amounted to $ 6.7 million , $ 3.3 million and $ 3.6 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively . financing obligation 2014build-to-suit lease in august 2012 , we executed a lease for a building then under construction in santa clara , california to serve as our headquarters . the lease term is 120 months and commenced in august 2013 . based on the terms of the lease agreement and due to our involvement in certain aspects of the construction such as our financial involvement in structural elements of asset construction , making decisions related to tenant improvement costs and purchasing insurance not reimbursable by the buyer-lessor ( the landlord ) , we were deemed the owner of the building ( for accounting purposes only ) during the construction period . we continue to maintain involvement in the property post construction completion and lack transferability of the risks and rewards of ownership , due to our required maintenance of a $ 4.0 million letter of credit , in addition to our ability and option to sublease our portion of the leased building for fees substantially higher than our base rate . due to our continued involvement in the property and lack of transferability of related risks and rewards of ownership to the landlord post construction , we account for the building and related improvements as a lease financing obligation . accordingly , as of december 31 , 2015 and 2014 , we have recorded assets of $ 53.4 million , representing the total costs of the building and improvements incurred , including the costs paid by the lessor ( the legal owner of the building ) and additional improvement costs paid by us , and a corresponding financing obligation of $ 42.5 million and $ 43.6 million , respectively . as of december 31 , 2015 , $ 1.3 million and $ 41.2 million were recorded as short-term and long-term financing obligations , respectively . land lease expense under our lease financing obligation included in rent expense above , amounted to $ 1.3 million and $ 1.2 million for the years ended december 31 , 2015 and 2014 , respectively . there was no land lease expense for the year ended december 31 , 2013. .
Question: what is the growth rate in the rent expense for operating leases in 2015?
Answer: | 1.0303 |
FINQA3605 | 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: what was average percentage for lifo inventories of consolidated inventories for december 31 , 2017 and 2016?
Answer: | 39.5 |
FINQA3606 | Please answer the given financial question based on the context.
Context: remitted to the u.s . due to foreign tax credits and exclusions that may become available at the time of remittance . at december 31 , 2010 , aon had domestic federal operating loss carryforwards of $ 56 million that will expire at various dates from 2011 to 2024 , state operating loss carryforwards of $ 610 million that will expire at various dates from 2011 to 2031 , and foreign operating and capital loss carryforwards of $ 720 million and $ 251 million , respectively , nearly all of which are subject to indefinite carryforward . unrecognized tax provisions the following is a reconciliation of the company 2019s beginning and ending amount of unrecognized tax benefits ( in millions ) : .
||2010|2009|
|balance at january 1|$ 77|$ 86|
|additions based on tax positions related to the current year|7|2|
|additions for tax positions of prior years|4|5|
|reductions for tax positions of prior years|-7 ( 7 )|-11 ( 11 )|
|settlements|-1 ( 1 )|-10 ( 10 )|
|lapse of statute of limitations|-5 ( 5 )|-3 ( 3 )|
|acquisitions|26|6|
|foreign currency translation|-1 ( 1 )|2|
|balance at december 31|$ 100|$ 77|
as of december 31 , 2010 , $ 85 million of unrecognized tax benefits would impact the effective tax rate if recognized . aon does not expect the unrecognized tax positions to change significantly over the next twelve months , except for a potential reduction of unrecognized tax benefits in the range of $ 10-$ 15 million relating to anticipated audit settlements . the company recognizes penalties and interest related to unrecognized income tax benefits in its provision for income taxes . aon accrued potential penalties of less than $ 1 million during each of 2010 , 2009 and 2008 . aon accrued interest of less than $ 1 million in 2010 , $ 2 million during 2009 and less than $ 1 million in 2008 . aon has recorded a liability for penalties of $ 5 million and for interest of $ 18 million for both december 31 , 2010 and 2009 . aon and its subsidiaries file income tax returns in the u.s . federal jurisdiction as well as various state and international jurisdictions . aon has substantially concluded all u.s . federal income tax matters for years through 2006 . material u.s . state and local income tax jurisdiction examinations have been concluded for years through 2002 . aon has concluded income tax examinations in its primary international jurisdictions through 2004. .
Question: what is the net change in unrecognized tax in 2010?
Answer: | 23.0 |
FINQA3607 | Please answer the given financial question based on the context.
Context: the second largest closed-end fund manager and a top- ten manager by aum and 2013 net flows of long-term open-end mutual funds1 . in 2013 , we were also the leading manager by net flows for long-dated fixed income mutual funds1 . 2022 we have fully integrated our legacy retail and ishares retail distribution teams to create a unified client-facing presence . as retail clients increasingly use blackrock 2019s capabilities in combination 2014 active , alternative and passive 2014 it is a strategic priority for blackrock to coherently deliver these capabilities through one integrated team . 2022 international retail long-term net inflows of $ 17.5 billion , representing 15% ( 15 % ) organic growth , were positive across major regions and diversified across asset classes . equity net inflows of $ 6.4 billion were driven by strong demand for our top-performing european equities franchise as investor risk appetite for the sector improved . multi-asset class and fixed income products each generated net inflows of $ 4.8 billion , as investors looked to manage duration and volatility in their portfolios . in 2013 , we were ranked as the third largest cross border fund provider2 . in the united kingdom , we ranked among the five largest fund managers2 . ishares .
|( in millions )|component changes in aum 2014 ishares 12/31/2012|component changes in aum 2014 ishares net new business|component changes in aum 2014 ishares acquisition ( 1 )|component changes in aum 2014 ishares market / fx|component changes in aum 2014 ishares 12/31/2013|
|equity|$ 534648|$ 74119|$ 13021|$ 96347|$ 718135|
|fixed income|192852|-7450 ( 7450 )|1294|-7861 ( 7861 )|178835|
|multi-asset class|869|355|2014|86|1310|
|alternatives ( 2 )|24337|-3053 ( 3053 )|1645|-6837 ( 6837 )|16092|
|total ishares|$ 752706|$ 63971|$ 15960|$ 81735|$ 914372|
alternatives ( 2 ) 24337 ( 3053 ) 1645 ( 6837 ) 16092 total ishares $ 752706 $ 63971 $ 15960 $ 81735 $ 914372 ( 1 ) amounts represent $ 16.0 billion of aum acquired in the credit suisse etf acquisition in july 2013 . ( 2 ) amounts include commodity ishares . ishares is the leading etf provider in the world , with $ 914.4 billion of aum at december 31 , 2013 , and was the top asset gatherer globally in 20133 with $ 64.0 billion of net inflows for an organic growth rate of 8% ( 8 % ) . equity net inflows of $ 74.1 billion were driven by flows into funds with broad developed market exposures , partially offset by outflows from emerging markets products . ishares fixed income experienced net outflows of $ 7.5 billion , as the continued low interest rate environment led many liquidity-oriented investors to sell long-duration assets , which made up the majority of the ishares fixed income suite . in 2013 , we launched several funds to meet demand from clients seeking protection in a rising interest rate environment by offering an expanded product set that includes four new u.s . funds , including short-duration versions of our flagship high yield and investment grade credit products , and short maturity and liquidity income funds . ishares alternatives had $ 3.1 billion of net outflows predominantly out of commodities . ishares represented 23% ( 23 % ) of long-term aum at december 31 , 2013 and 35% ( 35 % ) of long-term base fees for ishares offers the most diverse product set in the industry with 703 etfs at year-end 2013 , and serves the broadest client base , covering more than 25 countries on five continents . during 2013 , ishares continued its dual commitment to innovation and responsible product structuring by introducing 42 new etfs , acquiring credit suisse 2019s 58 etfs in europe and entering into a critical new strategic alliance with fidelity investments to deliver fidelity 2019s more than 10 million clients increased access to ishares products , tools and support . our alliance with fidelity investments and a successful full first year for the core series have deeply expanded our presence and offerings among buy-and-hold investors . our broad product range offers investors a precise , transparent and low-cost way to tap market returns and gain access to a full range of asset classes and global markets that have been difficult or expensive for many investors to access until now , as well as the liquidity required to make adjustments to their exposures quickly and cost-efficiently . 2022 u.s . ishares aum ended at $ 655.6 billion with $ 41.4 billion of net inflows driven by strong demand for developed markets equities and short-duration fixed income . during the fourth quarter of 2012 , we debuted the core series in the united states , designed to provide the essential building blocks for buy-and-hold investors to use in constructing the core of their portfolio . the core series demonstrated solid results in its first full year , raising $ 20.0 billion in net inflows , primarily in u.s . equities . in the united states , ishares maintained its position as the largest etf provider , with 39% ( 39 % ) share of aum3 . 2022 international ishares aum ended at $ 258.8 billion with robust net new business of $ 22.6 billion led by demand for european and japanese equities , as well as a diverse range of fixed income products . at year-end 2013 , ishares was the largest european etf provider with 48% ( 48 % ) of aum3 . 1 simfund 2 lipper feri 3 blackrock ; bloomberg .
Question: what percent did the net inflows increase ishares aum?
Answer: | 0.0674 |
FINQA3608 | Please answer the given financial question based on the context.
Context: future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending december 31 , 2015 , and thereafter in the aggregate , are as follows ( in millions ) : .
|2011|$ 65.1|
|2012|47.6|
|2013|35.7|
|2014|27.8|
|2015|24.3|
|thereafter|78.1|
|total|$ 278.6|
in addition , the company has operating lease commitments relating to office equipment and computer hardware with annual lease payments of approximately $ 16.3 million per year which renew on a short-term basis . rent expense incurred under all operating leases during the years ended december 31 , 2010 , 2009 and 2008 was $ 116.1 million , $ 100.2 million and $ 117.0 million , respectively . included in discontinued operations in the consolidated statements of earnings was rent expense of $ 2.0 million , $ 1.8 million and $ 17.0 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively . data processing and maintenance services agreements . the company has agreements with various vendors , which expire between 2011 and 2017 , for portions of its computer data processing operations and related functions . the company 2019s estimated aggregate contractual obligation remaining under these agreements was approximately $ 554.3 million as of december 31 , 2010 . however , this amount could be more or less depending on various factors such as the inflation rate , foreign exchange rates , the introduction of significant new technologies , or changes in the company 2019s data processing needs . ( 16 ) employee benefit plans stock purchase plan fis employees participate in an employee stock purchase plan ( espp ) . eligible employees may voluntarily purchase , at current market prices , shares of fis 2019 common stock through payroll deductions . pursuant to the espp , employees may contribute an amount between 3% ( 3 % ) and 15% ( 15 % ) of their base salary and certain commissions . shares purchased are allocated to employees based upon their contributions . the company contributes varying matching amounts as specified in the espp . the company recorded an expense of $ 14.3 million , $ 12.4 million and $ 14.3 million , respectively , for the years ended december 31 , 2010 , 2009 and 2008 , relating to the participation of fis employees in the espp . included in discontinued operations in the consolidated statements of earnings was expense of $ 0.1 million and $ 3.0 million for the years ended december 31 , 2009 and 2008 , respectively . 401 ( k ) profit sharing plan the company 2019s employees are covered by a qualified 401 ( k ) plan . eligible employees may contribute up to 40% ( 40 % ) of their pretax annual compensation , up to the amount allowed pursuant to the internal revenue code . the company generally matches 50% ( 50 % ) of each dollar of employee contribution up to 6% ( 6 % ) of the employee 2019s total eligible compensation . the company recorded expense of $ 23.1 million , $ 16.6 million and $ 18.5 million , respectively , for the years ended december 31 , 2010 , 2009 and 2008 , relating to the participation of fis employees in the 401 ( k ) plan . included in discontinued operations in the consolidated statements of earnings was expense of $ 0.1 million and $ 3.9 million for the years ended december 31 , 2009 and 2008 , respectively . fidelity national information services , inc . and subsidiaries notes to consolidated financial statements 2014 ( continued ) %%transmsg*** transmitting job : g26369 pcn : 083000000 ***%%pcmsg|83 |00006|yes|no|03/28/2011 17:32|0|0|page is valid , no graphics -- color : n| .
Question: what percentage of future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending december 31 , 2015 , and thereafter are due in 2013?
Answer: | 0.12814 |
FINQA3609 | Please answer the given financial question based on the context.
Context: cgmhi has committed long-term financing facilities with unaffiliated banks . at december 31 , 2010 , cgmhi had drawn down the full $ 900 million available under these facilities , of which $ 150 million is guaranteed by citigroup . generally , a bank can terminate these facilities by giving cgmhi one-year prior notice . 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 , 2010 , the company 2019s overall weighted average interest rate for long-term debt was 3.53% ( 3.53 % ) on a contractual basis and 2.78% ( 2.78 % ) 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 : long-term debt at december 31 , 2010 and december 31 , 2009 includes $ 18131 million and $ 19345 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. .
|in millions of dollars|2011|2012|2013|2014|2015|thereafter|
|bank|$ 35066|$ 38280|$ 8013|$ 7620|$ 6380|$ 17875|
|non-bank|15213|25950|7858|5187|3416|18381|
|parent company|21194|30004|21348|19096|12131|88171|
|total|$ 71473|$ 94234|$ 37219|$ 31903|$ 21927|$ 124427|
.
Question: in 2012 what percentage of total subsidiary trusts obligations are due to bank subsidiary?
Answer: | 0.40622 |
FINQA3610 | 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 , 2018 . the graph assumes an investment of $ 100 in each of our common stock , the s&p 500 , and the peer group on december 31 , 2013 , and that dividends were reinvested when paid. .
||12/31/2013|12/31/2014|12/31/2015|12/31/2016|12/31/2017|12/31/2018|
|hum|$ 100|$ 140|$ 176|$ 202|$ 247|$ 287|
|s&p 500|$ 100|$ 114|$ 115|$ 129|$ 157|$ 150|
|peer group|$ 100|$ 128|$ 135|$ 137|$ 173|$ 191|
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .
Question: what was the percent of the of the growth for stock total return performance for hum from 2016 to 2017
Answer: | 0.22277 |
FINQA3611 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis 132 jpmorgan chase & co./2010 annual report unpaid principal balance due to negative amortization of option arms was $ 24 million and $ 78 million at december 31 , 2010 and 2009 , respectively . the firm estimates the following balances of option arm loans will experience a recast that results in a payment increase : $ 72 million in 2011 , $ 241 million in 2012 and $ 784 million in 2013 . the firm did not originate option arms and new originations of option arms were discontinued by washington mutual prior to the date of jpmorgan chase 2019s acquisition of its banking operations . subprime mortgages at december 31 , 2010 were $ 11.3 billion , compared with $ 12.5 billion at december 31 , 2009 . the decrease was due to paydowns and charge-offs on delinquent loans , partially offset by the addition of loans as a result of the adoption of the accounting guidance related to vies . late-stage delinquencies remained elevated but continued to improve , albeit at a slower rate during the second half of the year , while early-stage delinquencies stabilized at an elevated level during this period . nonaccrual loans improved largely as a result of the improvement in late-stage delinquencies . charge-offs reflected modest improvement . auto : auto loans at december 31 , 2010 , were $ 48.4 billion , compared with $ 46.0 billion at december 31 , 2009 . delinquent and nonaccrual loans have decreased . in addition , net charge-offs have declined 52% ( 52 % ) from the prior year . provision expense de- creased due to favorable loss severity as a result of a strong used- car market nationwide and reduced loss frequency due to the tightening of underwriting criteria in earlier periods . the auto loan portfolio reflected a high concentration of prime quality credits . business banking : business banking loans at december 31 , 2010 , were $ 16.8 billion , compared with $ 17.0 billion at december 31 , 2009 . the decrease was primarily a result of run-off of the washington mutual portfolio and charge-offs on delinquent loans . these loans primarily include loans which are highly collateralized , often with personal loan guarantees . nonaccrual loans continued to remain elevated . after having increased during the first half of 2010 , nonaccrual loans as of december 31 , 2010 , declined to year-end 2009 levels . student and other : student and other loans at december 31 , 2010 , including loans held-for-sale , were $ 15.3 billion , compared with $ 16.4 billion at december 31 , 2009 . other loans primarily include other secured and unsecured consumer loans . delinquencies reflected some stabilization in the second half of 2010 , but remained elevated . charge-offs during 2010 remained relatively flat with 2009 levels reflecting the impact of elevated unemployment levels . purchased credit-impaired loans : pci loans at december 31 , 2010 , were $ 72.8 billion compared with $ 81.2 billion at december 31 , 2009 . this portfolio represents loans acquired in the washing- ton mutual transaction that were recorded at fair value at the time of acquisition . that fair value included an estimate of credit losses expected to be realized over the remaining lives of the loans , and therefore no allowance for loan losses was recorded for these loans as of the acquisition date . the firm regularly updates the amount of principal and interest cash flows expected to be collected for these loans . probable decreases in expected loan principal cash flows would trigger the recognition of impairment through the provision for loan losses . probable and significant increases in expected cash flows ( e.g. , decreased principal credit losses , the net benefit of modifications ) would first reverse any previously recorded allowance for loan losses , with any remaining increase in the expected cash flows recognized prospectively in interest income over the remaining estimated lives of the underlying loans . during 2010 , management concluded as part of the firm 2019s regular assessment of the pci pools that it was probable that higher expected principal credit losses would result in a decrease in expected cash flows . accordingly , the firm recognized an aggregate $ 3.4 billion impairment related to the home equity , prime mortgage , option arm and subprime mortgage pci portfolios . as a result of this impairment , the firm 2019s allowance for loan losses for the home equity , prime mortgage , option arm and subprime mortgage pci portfolios was $ 1.6 billion , $ 1.8 billion , $ 1.5 billion and $ 98 million , respectively , at december 31 , 2010 , compared with an allowance for loan losses of $ 1.1 billion and $ 491 million for the prime mortgage and option arm pci portfolios , respectively , at december 31 , 2009 . approximately 39% ( 39 % ) of the option arm borrowers were delinquent , 5% ( 5 % ) were making interest-only or negatively amortizing payments , and 56% ( 56 % ) were making amortizing payments . approximately 50% ( 50 % ) of current borrowers are subject to risk of payment shock due to future payment recast ; substantially all of the remaining loans have been modified to a fixed rate fully amortizing loan . the cumulative amount of unpaid interest added to the unpaid principal balance of the option arm pci pool was $ 1.4 billion and $ 1.9 billion at de- cember 31 , 2010 and 2009 , respectively . the firm estimates the following balances of option arm pci loans will experience a recast that results in a payment increase : $ 1.2 billion in 2011 , $ 2.7 billion in 2012 and $ 508 million in 2013 . the following table provides a summary of lifetime loss estimates included in both the nonaccretable difference and the allowance for loan losses . principal charge-offs will not be recorded on these pools until the nonaccretable difference has been fully depleted . lifetime loss estimates ( a ) ltd liquidation losses ( b ) .
|december 31 ( in millions )|lifetime loss estimates ( a ) 2010|lifetime loss estimates ( a ) 2009|lifetime loss estimates ( a ) 2010|2009|
|option arms|$ 11588|$ 10650|$ 4860|$ 1744|
|home equity|14698|13138|8810|6060|
|prime mortgage|4870|4240|1495|794|
|subprime mortgage|3732|3842|1250|796|
|total|$ 34888|$ 31870|$ 16415|$ 9394|
( a ) includes the original nonaccretable difference established in purchase accounting of $ 30.5 billion for principal losses only . the remaining nonaccretable difference for principal losses only was $ 14.1 billion and $ 21.1 billion at december 31 , 2010 and 2009 , respectively . all probable increases in principal losses and foregone interest subsequent to the purchase date are reflected in the allowance for loan losses . ( b ) life-to-date ( 201cltd 201d ) liquidation losses represent realization of loss upon loan resolution. .
Question: what was the ratio of the business banking loans at december 31 , 2010 compared with $ 17.0 billion at december 31 , 2009 .
Answer: | 0.98824 |
FINQA3612 | Please answer the given financial question based on the context.
Context: eastman notes to the audited consolidated financial statements stock option awards option awards are granted to non-employee directors on an annual basis and to employees who meet certain eligibility requirements . a single annual option grant is usually awarded to eligible employees in the fourth quarter of each year , if and when granted by the compensation and management development committee of the board of directors , and occasional individual grants are awarded to eligible employees throughout the year . option awards have an exercise price equal to the closing price of the company's stock on the date of grant . the term of options is ten years with vesting periods that vary up to three years . vesting usually occurs ratably or at the end of the vesting period . sfas no . 123 ( r ) requires that stock option awards be valued at fair value determined by market price , if actively traded in a public market or , if not , calculated using an option pricing financial model . the fair value of the company's options cannot be determined by market value as they are not traded in an open market . accordingly , a financial pricing model is utilized to determine fair value . the company utilizes the black scholes merton ( "bsm" ) model which relies on certain assumptions to estimate an option's fair value . the weighted average assumptions used in the determination of fair value for stock options awarded in 2006 , 2005 and 2004 are provided in the table below: .
|assumptions|2006|2005|2004|
|expected volatility rate|21.40% ( 21.40 % )|22.90% ( 22.90 % )|28.00% ( 28.00 % )|
|expected dividend yield|3.24% ( 3.24 % )|3.29% ( 3.29 % )|3.80% ( 3.80 % )|
|average risk-free interest rate|4.62% ( 4.62 % )|4.48% ( 4.48 % )|3.46% ( 3.46 % )|
|expected forfeiture rate|0.75% ( 0.75 % )|actual|actual|
|expected term years|4.40|5.00|6.00|
prior to adoption of sfas no . 123 ( r ) , the company calculated the expected term of stock options of six years . effective with the fourth quarter 2005 annual option award , the company analyzed historical annual grant transactions over a ten year period comprising exercises , post-vesting cancellations and expirations to determine the expected term . the company expects to execute this analysis each year preceding the annual option grant to ensure that all assumptions based upon internal data reflect the most reasonable expectations for fair value determination . the weighted average expected term of 4.4 years for 2006 reflects the impact of this annual analysis and the weighting of option swap and reload grants which may have much shorter expected terms than new option grants . the volatility rate of grants is derived from historical company common stock volatility over the same time period as the expected term . the company uses a weekly high closing stock price based upon daily closing prices in the week . the volatility rate is derived by mathematical formula utilizing the weekly high closing price data . for the periods presented above , the expected dividend yield is derived by mathematical formula which uses the expected company annual dividend amount over the expected term divided by the fair market value of the company's common stock at the grant date . the average risk-free interest rate is derived from united states department of treasury published interest rates of daily yield curves for the same time period as the expected term . prior to adoption of sfas no . 123 ( r ) , the company did not estimate forfeitures and recognized them as they occurred for proforma disclosure of share-based compensation expense . with adoption of sfas no . 123 ( r ) , estimated forfeitures must be considered in recording share-based compensation expense . estimated forfeiture rates vary with each type of award affected by several factors , one of which is the varying composition and characteristics of the award participants . estimated forfeitures for the company's share-based awards historically range from 0.75 percent to 10.0 percent with the estimated forfeitures for options at 0.75 percent. .
Question: what is the percent change in expected dividend yield between 2005 and 2006?
Answer: | -0.0152 |
FINQA3613 | Please answer the given financial question based on the context.
Context: the pension plan investments are held in a master trust , with the northern trust company . investments in the master trust are valued at fair value , which has been determined based on fair value of the underlying investments of the master trust . investments in securities traded on public security exchanges are valued at their closing market prices on the valuation date ; where no sale was made on the valuation date , the security is generally valued at its most recent bid price . certain short-term investments are carried at cost , which approximates fair value . investments in registered investment companies and common trust funds , which primarily invest in stocks , bonds , and commodity futures , are valued using publicly available market prices for the underlying investments held by these entities . the majority of pension plan assets are invested in equity securities , because equity portfolios have historically provided higher returns than debt and other asset classes over extended time horizons , and are expected to do so in the future . correspondingly , equity investments also entail greater risks than other investments . equity risks are balanced by investing a significant portion of the plan 2019s assets in high quality debt securities . the average quality rating of the debt portfolio exceeded aa as of december 31 , 2008 and 2007 . the debt portfolio is also broadly diversified and invested primarily in u.s . treasury , mortgage , and corporate securities with an intermediate average maturity . the weighted-average maturity of the debt portfolio was 5 years at both december 31 , 2008 and 2007 , respectively . the investment of pension plan assets in securities issued by union pacific is specifically prohibited for both the equity and debt portfolios , other than through index fund holdings . other retirement programs thrift plan 2013 we provide a defined contribution plan ( thrift plan ) to eligible non-union employees and make matching contributions to the thrift plan . we match 50 cents for each dollar contributed by employees up to the first six percent of compensation contributed . our thrift plan contributions were $ 14 million in 2008 , $ 14 million in 2007 , and $ 13 million in 2006 . railroad retirement system 2013 all railroad employees are covered by the railroad retirement system ( the system ) . contributions made to the system are expensed as incurred and amounted to approximately $ 620 million in 2008 , $ 616 million in 2007 , and $ 615 million in 2006 . collective bargaining agreements 2013 under collective bargaining agreements , we provide certain postretirement healthcare and life insurance benefits for eligible union employees . premiums under the plans are expensed as incurred and amounted to $ 49 million in 2008 and $ 40 million in both 2007 and 5 . other income other income included the following for the years ended december 31 : millions of dollars 2008 2007 2006 .
|millions of dollars|2008|2007|2006|
|rental income|$ 87|$ 68|$ 83|
|net gain on non-operating asset dispositions|41|52|72|
|interest income|21|50|29|
|sale of receivables fees|-23 ( 23 )|-35 ( 35 )|-33 ( 33 )|
|non-operating environmental costs and other|-34 ( 34 )|-19 ( 19 )|-33 ( 33 )|
|total|$ 92|$ 116|$ 118|
.
Question: what was the average thrift plan contribution from 2006 to 2008 in millions
Answer: | 13.66667 |
FINQA3614 | Please answer the given financial question based on the context.
Context: comparison of five-year cumulative total return the following graph compares the cumulative total return on citigroup 2019s common stock with the s&p 500 index and the s&p financial index over the five-year period extending through december 31 , 2009 . the graph assumes that $ 100 was invested on december 31 , 2004 in citigroup 2019s common stock , the s&p 500 index and the s&p financial index and that all dividends were reinvested . citigroup s&p 500 index s&p financial index 2005 2006 2007 2008 2009 comparison of five-year cumulative total return for the years ended .
|december 31|citigroup|s&p 500 index|s&p financial index|
|2005|104.38|104.83|106.30|
|2006|124.02|121.20|126.41|
|2007|70.36|127.85|103.47|
|2008|18.71|81.12|47.36|
|2009|9.26|102.15|55.27|
.
Question: what was the difference in percent cumulative total return on citigroup's common stock compared to the s&p 500 index for five year period ended 2009?
Answer: | -0.9289 |
FINQA3615 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) as of december 31 , 2006 , the company held a total of ten interest rate swap agreements to manage exposure to variable rate interest obligations under its amt opco and spectrasite credit facilities and four forward starting interest rate swap agreements to manage exposure to variability in cash flows relating to forecasted interest payments in connection with the securitization which the company designated as cash flow hedges . the eight american tower swaps had an aggregate notional amount of $ 450.0 million and fixed rates ranging between 4.63% ( 4.63 % ) and 4.88% ( 4.88 % ) and the two spectrasite swaps have an aggregate notional amount of $ 100.0 million and a fixed rate of 4.95% ( 4.95 % ) . the four forward starting interest rate swap agreements had an aggregate notional amount of $ 900.0 million , fixed rates ranging between 4.73% ( 4.73 % ) and 5.10% ( 5.10 % ) . as of december 31 , 2006 , the company also held three interest rate swap instruments and one interest rate cap instrument that were acquired in the spectrasite , inc . merger in august 2005 and were not designated as cash flow hedges . the three interest rate swaps , which had a fair value of $ 6.7 million at the date of acquisition , have an aggregate notional amount of $ 300.0 million , a fixed rate of 3.88% ( 3.88 % ) . the interest rate cap had a notional amount of $ 175.0 million , a fixed rate of 7.0% ( 7.0 % ) , and expired in february 2006 . as of december 31 , 2006 , other comprehensive income includes unrealized gains on short term available-for-sale securities of $ 10.4 million and unrealized gains related to the interest rate swap agreements in the table above of $ 5.7 million , net of tax . during the year ended december 31 , 2006 , the company recorded a net unrealized gain of approximately $ 6.5 million ( net of a tax provision of approximately $ 3.5 million ) in other comprehensive loss for the change in fair value of interest rate swaps designated as cash flow hedges and reclassified $ 0.7 million ( net of an income tax benefit of $ 0.2 million ) into results of operations during the year ended december 31 , 2006 . 9 . commitments and contingencies lease obligations 2014the company leases certain land , office and tower space under operating leases that expire over various terms . many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option . escalation clauses present in operating leases , excluding those tied to cpi or other inflation-based indices , are recognized on a straight-line basis over the non-cancelable term of the lease . ( see note 1. ) future minimum rental payments under non-cancelable operating leases include payments for certain renewal periods at the company 2019s option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases , thereby making it reasonably assured that the company will renew the lease . such payments in effect at december 31 , 2007 are as follows ( in thousands ) : year ending december 31 .
|2008|$ 217969|
|2009|215763|
|2010|208548|
|2011|199024|
|2012|190272|
|thereafter|2451496|
|total|$ 3483072|
aggregate rent expense ( including the effect of straight-line rent expense ) under operating leases for the years ended december 31 , 2007 , 2006 and 2005 approximated $ 246.4 million , $ 237.0 million and $ 168.7 million , respectively. .
Question: what is the percentage change in aggregate rent expense from 2005 to 2006?
Answer: | 0.40486 |
FINQA3616 | Please answer the given financial question based on the context.
Context: dividends is subject to the discretion of the board of directors and will depend on various factors , including our net income , financial condition , cash requirements , future prospects , and other relevant factors . we expect to continue the practice of paying regular cash dividends . during 2005 , we repaid $ 589 million in debt , primarily consisting of paydowns of commercial paper , scheduled principal payments on capital lease obligations , and repayments of debt that was previously assumed with the acquisitions of lynx express ltd . and overnite corp . issuances of debt were $ 128 million in 2005 , and consisted primarily of loans related to our investment in certain equity-method real estate partnerships . we consider the overall fixed and floating interest rate mix of our portfolio and the related overall cost of borrowing when planning for future issuances and non-scheduled repayments of debt . sources of credit we maintain two commercial paper programs under which we are authorized to borrow up to $ 7.0 billion in the united states . we had $ 739 million outstanding under these programs as of december 31 , 2005 , with an average interest rate of 4.01% ( 4.01 % ) . the entire balance outstanding has been classified as a current liability in our balance sheet . we also maintain a european commercial paper program under which we are authorized to borrow up to 20ac1.0 billion in a variety of currencies . there were no amounts outstanding under this program as of december 31 , 2005 . we maintain two credit agreements with a consortium of banks . these agreements provide revolving credit facilities of $ 1.0 billion each , with one expiring on april 20 , 2006 and the other on april 21 , 2010 . interest on any amounts we borrow under these facilities would be charged at 90-day libor plus 15 basis points . there were no borrowings under either of these agreements as of december 31 , 2005 . in august 2003 , we filed a $ 2.0 billion shelf registration statement under which we may issue debt securities in the united states . there was approximately $ 126 million issued under this shelf registration statement at december 31 , 2005 , all of which consists of issuances under our ups notes program . our existing debt instruments and credit facilities do not have cross-default or ratings triggers , however these debt instruments and credit facilities do subject us to certain financial covenants . these covenants generally require us to maintain a $ 3.0 billion minimum net worth and limit the amount of secured indebtedness available to the company . these covenants are not considered material to the overall financial condition of the company , and all covenant tests were satisfied as of december 31 , 2005 . commitments we have contractual obligations and commitments in the form of operating leases , capital leases , debt obligations , purchase commitments , and certain other liabilities . we intend to satisfy these obligations through the use of cash flow from operations . the following table summarizes our contractual obligations and commitments as of december 31 , 2005 ( in millions ) : capitalized leases operating leases principal purchase commitments liabilities .
|year|capitalized leases|operating leases|debt principal|purchase commitments|other liabilities|
|2006|$ 64|$ 403|$ 774|$ 1280|$ 48|
|2007|107|348|70|826|68|
|2008|115|248|37|738|69|
|2009|66|176|104|652|65|
|2010|61|126|30|478|62|
|after 2010|1|544|2637|689|285|
|total|$ 414|$ 1845|$ 3652|$ 4663|$ 597|
.
Question: what percentage of total contractual obligations and commitments as of december 31 , 2005 , are total debt principal?
Answer: | 0.32692 |
FINQA3617 | Please answer the given financial question based on the context.
Context: proceeds from the sale of equity securities . from time to time , we raise funds through public offerings of our equity securities . in addition , we receive proceeds from sales of our equity securities pursuant to our stock option and stock purchase plans . for the year ended december 31 , 2004 , we received approximately $ 40.6 million in proceeds from sales of shares of our class a common stock and the common stock of atc mexico pursuant to our stock option and stock purchase plans . financing activities during the year ended december 31 , 2004 , we took several actions to increase our financial flexibility and reduce our interest costs . new credit facility . in may 2004 , we refinanced our previous credit facility with a new $ 1.1 billion senior secured credit facility . at closing , we received $ 685.5 million of net proceeds from the borrowings under the new facility , after deducting related expenses and fees , approximately $ 670.0 million of which we used to repay principal and interest under the previous credit facility . we used the remaining net proceeds of $ 15.5 million for general corporate purposes , including the repurchase of other outstanding debt securities . the new credit facility consists of the following : 2022 $ 400.0 million in undrawn revolving loan commitments , against which approximately $ 19.3 million of undrawn letters of credit were outstanding at december 31 , 2004 , maturing on february 28 , 2011 ; 2022 a $ 300.0 million term loan a , which is fully drawn , maturing on february 28 , 2011 ; and 2022 a $ 398.0 million term loan b , which is fully drawn , maturing on august 31 , 2011 . the new credit facility extends the previous credit facility maturity dates from 2007 to 2011 for a majority of the borrowings outstanding , subject to earlier maturity upon the occurrence of certain events described below , and allows us to use credit facility borrowings and internally generated funds to repurchase other indebtedness without additional lender approval . the new credit facility is guaranteed by us and is secured by a pledge of substantially all of our assets . the maturity date for term loan a and any outstanding revolving loans will be accelerated to august 15 , 2008 , and the maturity date for term loan b will be accelerated to october 31 , 2008 , if ( 1 ) on or prior to august 1 , 2008 , our 93 20448% ( 20448 % ) senior notes have not been ( a ) refinanced with parent company indebtedness having a maturity date of february 28 , 2012 or later or with loans under the new credit facility , or ( b ) repaid , prepaid , redeemed , repurchased or otherwise retired , and ( 2 ) our consolidated leverage ratio ( total parent company debt to annualized operating cash flow ) at june 30 , 2008 is greater than 4.50 to 1.00 . if this were to occur , the payments due in 2008 for term loan a and term loan b would be $ 225.0 million and $ 386.0 million , respectively . note offerings . during 2004 , we raised approximately $ 1.1 billion in net proceeds from the sale of debt securities through institutional private placements as follows ( in millions ) : debt security date of offering principal amount approximate net proceeds .
|debt security|date of offering|principal amount|approximate net proceeds|
|7.50% ( 7.50 % ) senior notes due 2012|february 2004|$ 225.0|$ 221.7|
|3.00% ( 3.00 % ) convertible notes due august 15 2012|august 2004|345.0|335.9|
|7.125% ( 7.125 % ) senior notes due 2012|october 2004|300.0|292.8|
|7.125% ( 7.125 % ) senior notes due 2012|december 2004|200.0|199.8|
|total||$ 1070.0|$ 1050.2|
2022 7.50% ( 7.50 % ) senior notes offering . in february 2004 , we sold $ 225.0 million principal amount of our 7.50% ( 7.50 % ) senior notes due 2012 through an institutional private placement . the 7.50% ( 7.50 % ) senior notes mature on may 1 , 2012 , and interest is payable semiannually in arrears on may 1 and november 1 of each year. .
Question: what was the percent of the fees and cost for the processing of the 7.50% ( 7.50 % ) senior notes due 2012 issued february 2004
Answer: | 0.01488 |
FINQA3618 | Please answer the given financial question based on the context.
Context: eog resources , inc . supplemental information to consolidated financial statements ( continued ) capitalized costs relating to oil and gas producing activities . the following table sets forth the capitalized costs relating to eog's crude oil and natural gas producing activities at december 31 , 2017 and 2016: .
||2017|2016|
|proved properties|$ 48845672|$ 45751965|
|unproved properties|3710069|3840126|
|total|52555741|49592091|
|accumulated depreciation depletion and amortization|-29191247 ( 29191247 )|-26247062 ( 26247062 )|
|net capitalized costs|$ 23364494|$ 23345029|
costs incurred in oil and gas property acquisition , exploration and development activities . the acquisition , exploration and development costs disclosed in the following tables are in accordance with definitions in the extractive industries - oil and a gas topic of the accounting standards codification ( asc ) . acquisition costs include costs incurred to purchase , lease or otherwise acquire property . exploration costs include additions to exploratory wells , including those in progress , and exploration expenses . development costs include additions to production facilities and equipment and additions to development wells , including those in progress. .
Question: considering the year 2016 , what is the percentage of unproved properties among the total properties?
Answer: | 0.07743 |
FINQA3619 | Please answer the given financial question based on the context.
Context: visa inc . notes to consolidated financial statements 2014 ( continued ) september 30 , 2009 ( in millions , except as noted ) to value the shares issued on june 15 , 2007 ( the 201cmeasurement date 201d ) , the company primarily relied upon the analysis of comparable companies with similar industry , business model and financial profiles . this analysis considered a range of metrics including the forward multiples of revenue ; earnings before interest , depreciation and amortization ; and net income of these comparable companies . ultimately , the company determined that the forward net income multiple was the most appropriate measure to value the acquired regions and reflect anticipated changes in the company 2019s financial profile prospectively . this multiple was applied to the corresponding forward net income of the acquired regions to calculate their value . the most comparable company identified was mastercard inc . therefore , the most significant input into this analysis was mastercard 2019s forward net income multiple of 27 times net income at the measurement date . visa inc . common stock issued to visa europe as part of the reorganization , visa europe received 62762788 shares of class c ( series iii and iv ) common stock valued at $ 3.1 billion based on the value of the class c ( series i ) common stock issued to the acquired regions . visa europe also received 27904464 shares of class c ( series ii ) common stock valued at $ 1.104 billion determined by discounting the redemption price of these shares using a risk-free rate of 4.9% ( 4.9 % ) over the period to october 2008 , when these shares were redeemed by the company . prior to the ipo , the company issued visa europe an additional 51844393 class c ( series ii ) common stock at a price of $ 44 per share in exchange for a subscription receivable . the issuance and subscription receivable were recorded as offsetting entries in temporary equity at september 30 , 2008 . completion of the company 2019s ipo triggered the redemption feature of this stock and in march 2008 , the company reclassified all outstanding shares of the class c ( series ii ) common stock at its then fair value of $ 1.125 billion to temporary equity on the consolidated balance sheet with a corresponding reduction in additional paid-in-capital of $ 1.104 billion and accumulated income of $ 21 million . from march 2008 to october 10 , 2008 , the date these shares were redeemed , the company recorded accretion of this stock to its redemption price through accumulated income . fair value of assets acquired and liabilities assumed total purchase consideration has been allocated to the tangible and identifiable intangible assets and liabilities assumed underlying the acquired interests based on their fair value on the reorganization date . the excess of purchase consideration over net assets assumed was recorded as goodwill . the following table summarizes this allocation. .
||in millions|
|tangible assets and liabilities||
|current assets|$ 1733|
|non-current assets|1122|
|current liabilities|-1194 ( 1194 )|
|non-current liabilities|-4426 ( 4426 )|
|intangible assets|10883|
|goodwill|10295|
|net assets acquired|$ 18413|
.
Question: what is the total net assets of the company?
Answer: | 8118.0 |
FINQA3620 | Please answer the given financial question based on the context.
Context: the discount rate used to measure pension obligations is determined by comparing the expected future benefits that will be paid under the plan with yields available on high quality corporate bonds of similar duration . the impact on pension expense of a .5% ( .5 % ) decrease in discount rate in the current environment is an increase of $ 18 million per year . this sensitivity depends on the economic environment and amount of unrecognized actuarial gains or losses on the measurement date . the expected long-term return on assets assumption also has a significant effect on pension expense . the expected return on plan assets is a long-term assumption established by considering historical and anticipated returns of the asset classes invested in by the pension plan and the asset allocation policy currently in place . for purposes of setting and reviewing this assumption , 201clong term 201d refers to the period over which the plan 2019s projected benefit obligations will be disbursed . we review this assumption at each measurement date and adjust it if warranted . our selection process references certain historical data and the current environment , but primarily utilizes qualitative judgment regarding future return expectations . to evaluate the continued reasonableness of our assumption , we examine a variety of viewpoints and data . various studies have shown that portfolios comprised primarily of u.s . equity securities have historically returned approximately 9% ( 9 % ) annually over long periods of time , while u.s . debt securities have returned approximately 6% ( 6 % ) annually over long periods . application of these historical returns to the plan 2019s allocation ranges for equities and bonds produces a result between 6.50% ( 6.50 % ) and 7.25% ( 7.25 % ) and is one point of reference , among many other factors , that is taken into consideration . we also examine the plan 2019s actual historical returns over various periods and consider the current economic environment . recent experience is considered in our evaluation with appropriate consideration that , especially for short time periods , recent returns are not reliable indicators of future returns . while annual returns can vary significantly ( actual returns for 2014 , 2013 and 2012 were +6.50% ( +6.50 % ) , +15.48% ( +15.48 % ) , and +15.29% ( +15.29 % ) , respectively ) , the selected assumption represents our estimated long-term average prospective returns . acknowledging the potentially wide range for this assumption , we also annually examine the assumption used by other companies with similar pension investment strategies , so that we can ascertain whether our determinations markedly differ from others . in all cases , however , this data simply informs our process , which places the greatest emphasis on our qualitative judgment of future investment returns , given the conditions existing at each annual measurement date . taking into consideration all of these factors , the expected long-term return on plan assets for determining net periodic pension cost for 2014 was 7.00% ( 7.00 % ) , down from 7.50% ( 7.50 % ) for 2013 . after considering the views of both internal and external capital market advisors , particularly with regard to the effects of the recent economic environment on long-term prospective fixed income returns , we are reducing our expected long-term return on assets to 6.75% ( 6.75 % ) for determining pension cost for under current accounting rules , the difference between expected long-term returns and actual returns is accumulated and amortized to pension expense over future periods . each one percentage point difference in actual return compared with our expected return can cause expense in subsequent years to increase or decrease by up to $ 9 million as the impact is amortized into results of operations . we currently estimate pretax pension expense of $ 9 million in 2015 compared with pretax income of $ 7 million in 2014 . this year-over-year expected increase in expense reflects the effects of the lower expected return on asset assumption , improved mortality , and the lower discount rate required to be used in 2015 . these factors will be partially offset by the favorable impact of the increase in plan assets at december 31 , 2014 and the assumed return on a $ 200 million voluntary contribution to the plan made in february 2015 . the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2015 estimated expense as a baseline . table 26 : pension expense 2013 sensitivity analysis change in assumption ( a ) estimated increase/ ( decrease ) to 2015 pension expense ( in millions ) .
|change in assumption ( a )|estimatedincrease/ ( decrease ) to 2015pensionexpense ( in millions )|
|.5% ( .5 % ) decrease in discount rate|$ 18|
|.5% ( .5 % ) decrease in expected long-term return on assets|$ 22|
|.5% ( .5 % ) increase in compensation rate|$ 2|
( a ) the impact is the effect of changing the specified assumption while holding all other assumptions constant . our pension plan contribution requirements are not particularly sensitive to actuarial assumptions . investment performance has the most impact on contribution requirements and will drive the amount of required contributions in future years . also , current law , including the provisions of the pension protection act of 2006 , sets limits as to both minimum and maximum contributions to the plan . notwithstanding the voluntary contribution made in february 2015 noted above , we do not expect to be required to make any contributions to the plan during 2015 . 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 13 employee benefit plans in the notes to consolidated financial statements in item 8 of this report . 66 the pnc financial services group , inc . 2013 form 10-k .
Question: what's the percentage increase from the 2014 estimated pretax pension expense with the expense for 2015?
Answer: | 28.57143 |
FINQA3621 | Please answer the given financial question based on the context.
Context: the net decrease in the 2016 effective tax rate was due , in part , to the 2016 asset impairments in the u.s . and to the current year benefit related to a restructuring of one of our brazilian businesses that increases tax basis in long-term assets . further , the 2015 rate was impacted by the items described below . see note 20 2014asset impairment expense for additional information regarding the 2016 u.s . asset impairments . income tax expense increased $ 101 million , or 27% ( 27 % ) , to $ 472 million in 2015 . the company's effective tax rates were 41% ( 41 % ) and 26% ( 26 % ) for the years ended december 31 , 2015 and 2014 , respectively . the net increase in the 2015 effective tax rate was due , in part , to the nondeductible 2015 impairment of goodwill at our u.s . utility , dp&l and chilean withholding taxes offset by the release of valuation allowance at certain of our businesses in brazil , vietnam and the u.s . further , the 2014 rate was impacted by the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin aes pte ltd. , which owns the company 2019s business interests in the philippines and the 2014 sale of the company 2019s interests in four u.k . wind operating projects . neither of these transactions gave rise to income tax expense . see note 15 2014equity for additional information regarding the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin-aes pte ltd . see note 23 2014dispositions for additional information regarding the sale of the company 2019s interests in four u.k . wind operating projects . our effective tax rate reflects the tax effect of significant operations outside the u.s. , which are generally taxed at rates lower than the u.s . statutory rate of 35% ( 35 % ) . a future proportionate change in the composition of income before income taxes from foreign and domestic tax jurisdictions could impact our periodic effective tax rate . the company also benefits from reduced tax rates in certain countries as a result of satisfying specific commitments regarding employment and capital investment . see note 21 2014income taxes for additional information regarding these reduced rates . foreign currency transaction gains ( losses ) foreign currency transaction gains ( losses ) in millions were as follows: .
|years ended december 31,|2016|2015|2014|
|aes corporation|$ -50 ( 50 )|$ -31 ( 31 )|$ -34 ( 34 )|
|chile|-9 ( 9 )|-18 ( 18 )|-30 ( 30 )|
|colombia|-8 ( 8 )|29|17|
|mexico|-8 ( 8 )|-6 ( 6 )|-14 ( 14 )|
|philippines|12|8|11|
|united kingdom|13|11|12|
|argentina|37|124|66|
|other|-2 ( 2 )|-10 ( 10 )|-17 ( 17 )|
|total ( 1 )|$ -15 ( 15 )|$ 107|$ 11|
total ( 1 ) $ ( 15 ) $ 107 $ 11 _____________________________ ( 1 ) includes gains of $ 17 million , $ 247 million and $ 172 million on foreign currency derivative contracts for the years ended december 31 , 2016 , 2015 and 2014 , respectively . the company recognized a net foreign currency transaction loss of $ 15 million for the year ended december 31 , 2016 primarily due to losses of $ 50 million at the aes corporation mainly due to remeasurement losses on intercompany notes , and losses on swaps and options . this loss was partially offset by gains of $ 37 million in argentina , mainly due to the favorable impact of foreign currency derivatives related to government receivables . the company recognized a net foreign currency transaction gain of $ 107 million for the year ended december 31 , 2015 primarily due to gains of : 2022 $ 124 million in argentina , due to the favorable impact from foreign currency derivatives related to government receivables , partially offset by losses from the devaluation of the argentine peso associated with u.s . dollar denominated debt , and losses at termoandes ( a u.s . dollar functional currency subsidiary ) primarily associated with cash and accounts receivable balances in local currency , 2022 $ 29 million in colombia , mainly due to the depreciation of the colombian peso , positively impacting chivor ( a u.s . dollar functional currency subsidiary ) due to liabilities denominated in colombian pesos , 2022 $ 11 million in the united kingdom , mainly due to the depreciation of the pound sterling , resulting in gains at ballylumford holdings ( a u.s . dollar functional currency subsidiary ) associated with intercompany notes payable denominated in pound sterling , and .
Question: what was the change in millions between 2015 and 2016 of foreign currency transaction gains ( losses ) for aes corporation?
Answer: | -19.0 |
FINQA3622 | Please answer the given financial question based on the context.
Context: net revenue utility following is an analysis of the change in net revenue comparing 2013 to 2012 . amount ( in millions ) .
||amount ( in millions )|
|2012 net revenue|$ 4969|
|retail electric price|236|
|louisiana act 55 financing savings obligation|165|
|grand gulf recovery|75|
|volume/weather|40|
|fuel recovery|35|
|miso deferral|12|
|decommissioning trusts|-23 ( 23 )|
|other|15|
|2013 net revenue|$ 5524|
the retail electric price variance is primarily due to : 2022 a formula rate plan increase at entergy louisiana , effective january 2013 , which includes an increase relating to the waterford 3 steam generator replacement project , which was placed in service in december 2012 . the net income effect of the formula rate plan increase is limited to a portion representing an allowed return on equity with the remainder offset by costs included in other operation and maintenance expenses , depreciation expenses , and taxes other than income taxes ; 2022 the recovery of hinds plant costs through the power management rider at entergy mississippi , as approved by the mpsc , effective with the first billing cycle of 2013 . the net income effect of the hinds plant cost recovery is limited to a portion representing an allowed return on equity on the net plant investment with the remainder offset by the hinds plant costs in other operation and maintenance expenses , depreciation expenses , and taxes other than income taxes ; 2022 an increase in the capacity acquisition rider at entergy arkansas , as approved by the apsc , effective with the first billing cycle of december 2012 , relating to the hot spring plant acquisition . the net income effect of the hot spring plant cost recovery is limited to a portion representing an allowed return on equity on the net plant investment with the remainder offset by the hot spring plant costs in other operation and maintenance expenses , depreciation expenses , and taxes other than income taxes ; 2022 increases in the energy efficiency rider , as approved by the apsc , effective july 2013 and july 2012 . energy efficiency revenues are offset by costs included in other operation and maintenance expenses and have no effect on net income ; 2022 an annual base rate increase at entergy texas , effective july 2012 , as a result of the puct 2019s order that was issued in september 2012 in the november 2011 rate case ; and 2022 a formula rate plan increase at entergy mississippi , effective september 2013 . see note 2 to the financial statements for a discussion of rate proceedings . the louisiana act 55 financing savings obligation variance results from a regulatory charge recorded in the second quarter 2012 because entergy gulf states louisiana and entergy louisiana agreed to share with customers the savings from an irs settlement related to the uncertain tax position regarding the hurricane katrina and hurricane rita louisiana act 55 financing . see note 3 to the financial statements for additional discussion of the tax settlement . entergy corporation and subsidiaries management's financial discussion and analysis .
Question: what percentage of the change in net revenue between 2012 and 2013 is due to volume/weather ?
Answer: | 0.07207 |
FINQA3623 | Please answer the given financial question based on the context.
Context: performance share awards the vesting of psas is contingent upon meeting various individual , divisional or company-wide performance conditions , including revenue generation or growth in revenue , pretax income or earnings per share over a one- to five-year period . the performance conditions are not considered in the determination of the grant date fair value for these awards . the fair value of psas is based upon the market price of the aon common stock at the date of grant . compensation expense is recognized over the performance period , and in certain cases an additional vesting period , based on management 2019s estimate of the number of units expected to vest . compensation expense is adjusted to reflect the actual number of shares issued at the end of the programs . the actual issuance of shares may range from 0-200% ( 0-200 % ) of the target number of psas granted , based on the plan . dividend equivalents are not paid on psas . information regarding psas granted during the years ended december 31 , 2011 , 2010 and 2009 follows ( shares in thousands , dollars in millions , except fair value ) : .
||2011|2010|2009|
|target psus granted|1715|1390|3754|
|fair value ( 1 )|$ 50|$ 39|$ 38|
|number of shares that would be issued based on current performance levels|1772|1397|2300|
|unamortized expense based on current performance levels|$ 60|$ 18|$ 4|
( 1 ) represents per share weighted average fair value of award at date of grant . during 2011 , the company issued approximately 1.2 million shares in connection with the 2008 leadership performance plan ( 2018 2018lpp 2019 2019 ) cycle and 0.3 million shares related to a 2006 performance plan . during 2010 , the company issued approximately 1.6 million shares in connection with the completion of the 2007 lpp cycle and 84000 shares related to other performance plans . stock options options to purchase common stock are granted to certain employees at fair value on the date of grant . commencing in 2010 , the company ceased granting new stock options with the exception of historical contractual commitments . generally , employees are required to complete two continuous years of service before the options begin to vest in increments until the completion of a 4-year period of continuous employment , although a number of options were granted that require five continuous years of service before the options are fully vested . options issued under the lpp program vest ratable over 3 years with a six year term . the maximum contractual term on stock options is generally ten years from the date of grant . aon uses a lattice-binomial option-pricing model to value stock options . lattice-based option valuation models use a range of assumptions over the expected term of the options . expected volatilities are based on the average of the historical volatility of aon 2019s stock price and the implied volatility of traded options and aon 2019s stock . the valuation model stratifies employees between those receiving lpp options , special stock plan ( 2018 2018ssp 2019 2019 ) options , and all other option grants . the company believes that this stratification better represents prospective stock option exercise patterns . the expected dividend yield assumption is based on the company 2019s historical and expected future dividend rate . the risk-free rate for periods within the contractual life of the option is based on the u.s . treasury yield curve in effect at the time of grant . the expected life of employee stock options represents the weighted-average period stock options are expected to remain outstanding and is a derived output of the lattice-binomial model. .
Question: what was the change in million in the unamortized expense based on current performance levels from 2010 to 2011
Answer: | 42.0 |
FINQA3624 | Please answer the given financial question based on the context.
Context: our refining and wholesale marketing gross margin is the difference between the prices of refined products sold and the costs of crude oil and other charge and blendstocks refined , including the costs to transport these inputs to our refineries , the costs of purchased products and manufacturing expenses , including depreciation . the crack spread is a measure of the difference between market prices for refined products and crude oil , commonly used by the industry as a proxy for the refining margin . crack spreads can fluctuate significantly , particularly when prices of refined products do not move in the same relationship as the cost of crude oil . as a performance benchmark and a comparison with other industry participants , we calculate midwest ( chicago ) and u.s . gulf coast crack spreads that we feel most closely track our operations and slate of products . posted light louisiana sweet ( 201clls 201d ) prices and a 6-3-2-1 ratio of products ( 6 barrels of crude oil producing 3 barrels of gasoline , 2 barrels of distillate and 1 barrel of residual fuel ) are used for the crack spread calculation . our refineries can process significant amounts of sour crude oil which typically can be purchased at a discount to sweet crude oil . the amount of this discount , the sweet/sour differential , can vary significantly causing our refining and wholesale marketing gross margin to differ from the crack spreads which are based upon sweet crude . in general , a larger sweet/sour differential will enhance our refining and wholesale marketing gross margin . in 2009 , the sweet/sour differential narrowed , due to a variety of worldwide economic and petroleum industry related factors , primarily related to lower hydrocarbon demand . sour crude accounted for 50 percent , 52 percent and 54 percent of our crude oil processed in 2009 , 2008 and 2007 . the following table lists calculated average crack spreads for the midwest ( chicago ) and gulf coast markets and the sweet/sour differential for the past three years . ( dollars per barrel ) 2009 2008 2007 .
|( dollars per barrel )|2009|2008|2007|
|chicago lls 6-3-2-1|$ 3.52|$ 3.27|$ 8.87|
|u.s . gulf coast lls 6-3-2-1|$ 2.54|$ 2.45|$ 6.42|
|sweet/sour differential ( a )|$ 5.82|$ 11.99|$ 11.59|
sweet/sour differential ( a ) $ 5.82 $ 11.99 $ 11.59 ( a ) calculated using the following mix of crude types as compared to lls. : 15% ( 15 % ) arab light , 20% ( 20 % ) kuwait , 10% ( 10 % ) maya , 15% ( 15 % ) western canadian select , 40% ( 40 % ) mars . in addition to the market changes indicated by the crack spreads and sweet/sour differential , our refining and wholesale marketing gross margin is impacted by factors such as : 2022 the types of crude oil and other charge and blendstocks processed , 2022 the selling prices realized for refined products , 2022 the impact of commodity derivative instruments used to manage price risk , 2022 the cost of products purchased for resale , and 2022 changes in manufacturing costs , which include depreciation . manufacturing costs are primarily driven by the cost of energy used by our refineries and the level of maintenance costs . planned turnaround and major maintenance activities were completed at our catlettsburg , garyville , and robinson refineries in 2009 . we performed turnaround and major maintenance activities at our robinson , catlettsburg , garyville and canton refineries in 2008 and at our catlettsburg , robinson and st . paul park refineries in 2007 . our retail marketing gross margin for gasoline and distillates , which is the difference between the ultimate price paid by consumers and the cost of refined products , including secondary transportation and consumer excise taxes , also impacts rm&t segment profitability . there are numerous factors including local competition , seasonal demand fluctuations , the available wholesale supply , the level of economic activity in our marketing areas and weather conditions that impact gasoline and distillate demand throughout the year . refined product demand increased for several years until 2008 when it decreased due to the combination of significant increases in retail petroleum prices , a broad slowdown in general economic activity , and the impact of increased ethanol blending into gasoline . in 2009 refined product demand continued to decline . for our marketing area , we estimate a gasoline demand decline of about one percent and a distillate demand decline of about 12 percent from 2008 levels . market demand declines for gasoline and distillates generally reduce the product margin we can realize . we also estimate gasoline and distillate demand in our marketing area decreased about three percent in 2008 compared to 2007 levels . the gross margin on merchandise sold at retail outlets has been historically less volatile. .
Question: sour crude percentage of our crude oil processed increased by how much between 2009 and 2008?
Answer: | 2.0 |
FINQA3625 | Please answer the given financial question based on the context.
Context: japanese yen ( approximately $ 63 million and $ 188 million , respectively , based on applicable exchange rates at that time ) . the cash paid of approximately $ 63 million during the quarter ended march 31 , 2010 as a result of the purchase of sumitomo 3m shares from sei is classified as 201cother financing activities 201d in the consolidated statement of cash flows . the remainder of the purchase financed by the note payable to sei is considered non-cash financing activity in the first quarter of 2010 . as discussed in note 2 , during the second quarter of 2010 , 3m recorded a financed liability of 1.7 billion japanese yen ( approximately $ 18 million based on applicable exchange rates at that time ) related to the a-one acquisition , which is also considered a non-cash financing activity . off-balance sheet arrangements and contractual obligations : as of december 31 , 2012 , the company has not utilized special purpose entities to facilitate off-balance sheet financing arrangements . refer to the section entitled 201cwarranties/guarantees 201d in note 13 for discussion of accrued product warranty liabilities and guarantees . in addition to guarantees , 3m , in the normal course of business , periodically enters into agreements that require the company to indemnify either major customers or suppliers for specific risks , such as claims for injury or property damage arising out of the use of 3m products or the negligence of 3m personnel , or claims alleging that 3m products infringe third- party patents or other intellectual property . while 3m 2019s maximum exposure under these indemnification provisions cannot be estimated , these indemnifications are not expected to have a material impact on the company 2019s consolidated results of operations or financial condition . a summary of the company 2019s significant contractual obligations as of december 31 , 2012 , follows : contractual obligations .
|( millions )|total|payments due by year 2013|payments due by year 2014|payments due by year 2015|payments due by year 2016|payments due by year 2017|payments due by year after 2017|
|long-term debt including current portion ( note 9 )|$ 5902|$ 986|$ 1481|$ 107|$ 994|$ 648|$ 1686|
|interest on long-term debt|1721|189|152|97|96|79|1108|
|operating leases ( note 13 )|735|194|158|119|77|68|119|
|capital leases ( note 13 )|96|22|21|8|7|4|34|
|unconditional purchase obligations and other|1489|1060|209|111|48|33|28|
|total contractual cash obligations|$ 9943|$ 2451|$ 2021|$ 442|$ 1222|$ 832|$ 2975|
long-term debt payments due in 2013 and 2014 include floating rate notes totaling $ 132 million ( classified as current portion of long-term debt ) and $ 97 million , respectively , as a result of put provisions associated with these debt instruments . unconditional purchase obligations are defined as an agreement to purchase goods or services that is enforceable and legally binding on the company . included in the unconditional purchase obligations category above are certain obligations related to take or pay contracts , capital commitments , service agreements and utilities . these estimates include both unconditional purchase obligations with terms in excess of one year and normal ongoing purchase obligations with terms of less than one year . many of these commitments relate to take or pay contracts , in which 3m guarantees payment to ensure availability of products or services that are sold to customers . the company expects to receive consideration ( products or services ) for these unconditional purchase obligations . contractual capital commitments are included in the preceding table , but these commitments represent a small part of the company 2019s expected capital spending in 2013 and beyond . the purchase obligation amounts do not represent the entire anticipated purchases in the future , but represent only those items for which the company is contractually obligated . the majority of 3m 2019s products and services are purchased as needed , with no unconditional commitment . for this reason , these amounts will not provide a reliable indicator of the company 2019s expected future cash outflows on a stand-alone basis . other obligations , included in the preceding table within the caption entitled 201cunconditional purchase obligations and other , 201d include the current portion of the liability for uncertain tax positions under asc 740 , which is expected to be paid out in cash in the next 12 months . the company is not able to reasonably estimate the timing of the long-term payments or the amount by which the liability will increase or decrease over time ; therefore , the long-term portion of the net tax liability of $ 170 million is excluded from the preceding table . refer to note 7 for further details. .
Question: based on the summary of the company 2019s significant contractual obligations as of december 31 , 2012 what is the percent of the long-term debt including current portion to the total contractual cash obligations
Answer: | 0.59358 |
FINQA3626 | Please answer the given financial question based on the context.
Context: income was due primarily to the adoption of statement of position 03-1 , 201caccounting and reporting by insurance enterprises for certain nontraditional long-duration contracts and for separate accounts 201d ( 201csop 03-1 201d ) , which resulted in $ 1.6 billion of net investment income . 2003 compared to 2002 2014 revenues for the year ended december 31 , 2003 increased $ 2.3 billion over the comparable 2002 period . revenues increased due to earned premium growth within the business insurance , specialty commercial and personal lines segments , primarily as a result of earned pricing increases , higher earned premiums and net investment income in the retail products segment and net realized capital gains in 2003 as compared to net realized capital losses in 2002 . total benefits , claims and expenses increased $ 3.9 billion for the year ended december 31 , 2003 over the comparable prior year period primarily due to the company 2019s $ 2.6 billion asbestos reserve strengthening during the first quarter of 2003 and due to increases in the retail products segment associated with the growth in the individual annuity and institutional investments businesses . the net loss for the year ended december 31 , 2003 was primarily due to the company 2019s first quarter 2003 asbestos reserve strengthening of $ 1.7 billion , after-tax . included in net loss for the year ended december 31 , 2003 are $ 40 of after-tax expense related to the settlement of litigation with bancorp services , llc ( 201cbancorp 201d ) and $ 27 of severance charges , after-tax , in property & casualty . included in net income for the year ended december 31 , 2002 are the $ 8 after-tax benefit recognized by hartford life , inc . ( 201chli 201d ) related to the reduction of hli 2019s reserves associated with september 11 and $ 11 of after-tax expense related to litigation with bancorp . net realized capital gains and losses see 201cinvestment results 201d in the investments section . income taxes the effective tax rate for 2004 , 2003 and 2002 was 15% ( 15 % ) , 83% ( 83 % ) and 6% ( 6 % ) , respectively . the principal causes of the difference between the effective rates and the u.s . statutory rate of 35% ( 35 % ) were tax-exempt interest earned on invested assets , the dividends-received deduction , the tax benefit associated with the settlement of the 1998-2001 irs audit in 2004 and the tax benefit associated with the settlement of the 1996-1997 irs audit in 2002 . income taxes paid ( received ) in 2004 , 2003 and 2002 were $ 32 , ( $ 107 ) and ( $ 102 ) respectively . for additional information , see note 13 of notes to consolidated financial statements . per common share the following table represents earnings per common share data for the past three years: .
||2004|2003|2002|
|basic earnings ( loss ) per share|$ 7.24|$ -0.33 ( 0.33 )|$ 4.01|
|diluted earnings ( loss ) per share [1]|$ 7.12|$ -0.33 ( 0.33 )|$ 3.97|
|weighted average common shares outstanding ( basic )|292.3|272.4|249.4|
|weighted average common shares outstanding and dilutivepotential common shares ( diluted ) [1]|297.0|272.4|251.8|
[1] as a result of the net loss for the year ended december 31 , 2003 , sfas no . 128 , 201cearnings per share 201d , requires the company to use basic weighted average common shares outstanding in the calculation of the year ended december 31 , 2003 diluted earnings ( loss ) per share , since the inclusion of options of 1.8 would have been antidilutive to the earnings per share calculation . in the absence of the net loss , weighted average common shares outstanding and dilutive potential common shares would have totaled 274.2 . executive overview the company provides investment and retirement products such as variable and fixed annuities , mutual funds and retirement plan services and other institutional products ; individual and corporate owned life insurance ; and , group benefit products , such as group life and group disability insurance . the company derives its revenues principally from : ( a ) fee income , including asset management fees , on separate account and mutual fund assets and mortality and expense fees , as well as cost of insurance charges ; ( b ) net investment income on general account assets ; ( c ) fully insured premiums ; and ( d ) certain other fees . asset management fees and mortality and expense fees are primarily generated from separate account assets , which are deposited with the company through the sale of variable annuity and variable universal life products and from mutual funds . cost of insurance charges are assessed on the net amount at risk for investment-oriented life insurance products . premium revenues are derived primarily from the sale of group life , and group disability and individual term insurance products . the company 2019s expenses essentially consist of interest credited to policyholders on general account liabilities , insurance benefits provided , amortization of the deferred policy acquisition costs , expenses related to the selling and servicing the various products offered by the company , dividends to policyholders , and other general business expenses. .
Question: what is the net income reported in 2004 , ( in millions ) ?
Answer: | 2116.252 |
FINQA3627 | Please answer the given financial question based on the context.
Context: consist of first and second liens , the charge-off amounts for the pool are proportionate to the composition of first and second liens in the pool . our experience has been that the ratio of first to second lien loans has been consistent over time and is appropriately represented in our pools used for roll-rate calculations . generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20 year amortization term . during the draw period , we have home equity lines of credit where borrowers pay interest only and home equity lines of credit where borrowers pay principal and interest . based upon outstanding balances at december 31 , 2012 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end . table 39 : home equity lines of credit 2013 draw period end in millions interest product principal interest product .
|in millions|interestonlyproduct|principalandinterestproduct|
|2013|$ 1338|$ 221|
|2014|2048|475|
|2015|2024|654|
|2016|1571|504|
|2017|3075|697|
|2018 and thereafter|5497|4825|
|total ( a )|$ 15553|$ 7376|
( a ) includes approximately $ 166 million , $ 208 million , $ 213 million , $ 61 million , $ 70 million and $ 526 million of home equity lines of credit with balloon payments with draw periods scheduled to end in 2013 , 2014 , 2015 , 2016 , 2017 and 2018 and thereafter , respectively . we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments . based upon outstanding balances , and excluding purchased impaired loans , at december 31 , 2012 , for home equity lines of credit for which the borrower can no longer draw ( e.g. , draw period has ended or borrowing privileges have been terminated ) , approximately 3.86% ( 3.86 % ) were 30-89 days past due and approximately 5.96% ( 5.96 % ) were greater than or equal to 90 days past due . generally , when a borrower becomes 60 days past due , we terminate borrowing privileges , and those privileges are not subsequently reinstated . at that point , we continue our collection/recovery processes , which may include a loss mitigation loan modification resulting in a loan that is classified as a tdr . see note 5 asset quality in the notes to consolidated financial statements in item 8 of this report for additional information . loan modifications and troubled debt restructurings consumer loan modifications we modify loans under government and pnc-developed programs based upon our commitment to help eligible homeowners and borrowers avoid foreclosure , where appropriate . initially , a borrower is evaluated for a modification under a government program . if a borrower does not qualify under a government program , the borrower is then evaluated under a pnc program . our programs utilize both temporary and permanent modifications and typically reduce the interest rate , extend the term and/or defer principal . temporary and permanent modifications under programs involving a change to loan terms are generally classified as tdrs . further , certain payment plans and trial payment arrangements which do not include a contractual change to loan terms may be classified as tdrs . additional detail on tdrs is discussed below as well as in note 5 asset quality in the notes to consolidated financial statements in item 8 of this report . a temporary modification , with a term between three and 60 months , involves a change in original loan terms for a period of time and reverts to a calculated exit rate for the remaining term of the loan as of a specific date . a permanent modification , with a term greater than 60 months , is a modification in which the terms of the original loan are changed . permanent modifications primarily include the government-created home affordable modification program ( hamp ) or pnc-developed hamp-like modification programs . for consumer loan programs , such as residential mortgages and home equity loans and lines , we will enter into a temporary modification when the borrower has indicated a temporary hardship and a willingness to bring current the delinquent loan balance . examples of this situation often include delinquency due to illness or death in the family , or a loss of employment . permanent modifications are entered into when it is confirmed that the borrower does not possess the income necessary to continue making loan payments at the current amount , but our expectation is that payments at lower amounts can be made . residential mortgage and home equity loans and lines have been modified with changes in terms for up to 60 months , although the majority involve periods of three to 24 months . we also monitor the success rates and delinquency status of our loan modification programs to assess their effectiveness in serving our customers 2019 needs while mitigating credit losses . the following tables provide the number of accounts and unpaid principal balance of modified consumer real estate related loans as well as the number of accounts and unpaid principal balance of modified loans that were 60 days or more past due as of six months , nine months , twelve months and fifteen months after the modification date . the pnc financial services group , inc . 2013 form 10-k 91 .
Question: what is the average , in millions , of interest only product in 2013 , 2014 and 2015?
Answer: | 1803.33333 |
FINQA3628 | Please answer the given financial question based on the context.
Context: in april 2009 , the fasb issued additional guidance under asc 820 which provides guidance on estimat- ing the fair value of an asset or liability ( financial or nonfinancial ) when the volume and level of activity for the asset or liability have significantly decreased , and on identifying transactions that are not orderly . the application of the requirements of this guidance did not have a material effect on the accompanying consolidated financial statements . in august 2009 , the fasb issued asu 2009-05 , 201cmeasuring liabilities at fair value , 201d which further amends asc 820 by providing clarification for cir- cumstances in which a quoted price in an active market for the identical liability is not available . the company included the disclosures required by this guidance in the accompanying consolidated financial statements . accounting for uncertainty in income taxes in june 2006 , the fasb issued guidance under asc 740 , 201cincome taxes 201d ( formerly fin 48 ) . this guid- ance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in tax returns . specifically , the financial statement effects of a tax position may be recognized only when it is determined that it is 201cmore likely than not 201d that , based on its technical merits , the tax position will be sustained upon examination by the relevant tax authority . the amount recognized shall be measured as the largest amount of tax benefits that exceed a 50% ( 50 % ) probability of being recognized . this guidance also expands income tax disclosure requirements . international paper applied the provisions of this guidance begin- ning in the first quarter of 2007 . the adoption of this guidance resulted in a charge to the beginning bal- ance of retained earnings of $ 94 million at the date of adoption . note 3 industry segment information financial information by industry segment and geo- graphic area for 2009 , 2008 and 2007 is presented on pages 47 and 48 . effective january 1 , 2008 , the company changed its method of allocating corpo- rate overhead expenses to its business segments to increase the expense amounts allocated to these businesses in reports reviewed by its chief executive officer to facilitate performance comparisons with other companies . accordingly , the company has revised its presentation of industry segment operat- ing profit to reflect this change in allocation method , and has adjusted all comparative prior period information on this basis . note 4 earnings per share attributable to international paper company common shareholders basic earnings per common share from continuing operations are computed by dividing earnings from continuing operations by the weighted average number of common shares outstanding . diluted earnings per common share from continuing oper- ations are computed assuming that all potentially dilutive securities , including 201cin-the-money 201d stock options , were converted into common shares at the beginning of each year . in addition , the computation of diluted earnings per share reflects the inclusion of contingently convertible securities in periods when dilutive . a reconciliation of the amounts included in the computation of basic earnings per common share from continuing operations , and diluted earnings per common share from continuing operations is as fol- in millions except per share amounts 2009 2008 2007 .
|in millions except per share amounts|2009|2008|2007|
|earnings ( loss ) from continuing operations|$ 663|$ -1269 ( 1269 )|$ 1215|
|effect of dilutive securities ( a )|2013|2013|2013|
|earnings ( loss ) from continuing operations 2013 assumingdilution|$ 663|$ -1269 ( 1269 )|$ 1215|
|average common shares outstanding|425.3|421.0|428.9|
|effect of dilutive securities restricted performance share plan ( a )|2.7|2013|3.7|
|stock options ( b )|2013|2013|0.4|
|average common shares outstanding 2013 assuming dilution|428.0|421.0|433.0|
|basic earnings ( loss ) per common share from continuing operations|$ 1.56|$ -3.02 ( 3.02 )|$ 2.83|
|diluted earnings ( loss ) per common share from continuing operations|$ 1.55|$ -3.02 ( 3.02 )|$ 2.81|
average common shares outstanding 2013 assuming dilution 428.0 421.0 433.0 basic earnings ( loss ) per common share from continuing operations $ 1.56 $ ( 3.02 ) $ 2.83 diluted earnings ( loss ) per common share from continuing operations $ 1.55 $ ( 3.02 ) $ 2.81 ( a ) securities are not included in the table in periods when anti- dilutive . ( b ) options to purchase 22.2 million , 25.1 million and 17.5 million shares for the years ended december 31 , 2009 , 2008 and 2007 , respectively , were not included in the computation of diluted common shares outstanding because their exercise price exceeded the average market price of the company 2019s common stock for each respective reporting date . note 5 restructuring and other charges this footnote discusses restructuring and other charges recorded for each of the three years included in the period ended december 31 , 2009 . it .
Question: what was the net change in diluted earnings ( loss ) per common share from continuing operations between 2007 and 2008?
Answer: | -5.83 |
FINQA3629 | Please answer the given financial question based on the context.
Context: outlook commodity prices are the most significant factor impacting our revenues , profitability , operating cash flows and the amount of capital available to reinvest into our business . commodity prices began declining in the second half of 2014 and continued through 2015 and into 2016 . we believe we can manage in this lower commodity price cycle through operational execution , efficiency improvements , cost reductions , capital discipline and portfolio optimization , while continuing to focus on balance sheet protection . capital program our board of directors approved a capital program of $ 1.4 billion for 2016 . we intend to be flexible with respect to our capital allocation decisions in light of this challenged commodity pricing environment . with that in mind , we have engaged in an active program to divest of non-core assets , which together with our anticipated cash flows from operations , plus the savings embedded from the cost reductions we have put in place , should allow us to meet our current capital program , operating costs , debt service and dividends . the discipline undertaken as part of a real-time evaluation of our revenues , expenditures , and asset dispositions should allow us to live within our means . our capital program is broken down by reportable segment in the table below : ( in millions ) 2016 capital program percent of .
|( in millions )|2016 capital program|percent of total|
|north america e&p|$ 1166|81% ( 81 % )|
|international e&p|185|13% ( 13 % )|
|oil sands mining|41|3% ( 3 % )|
|segment total|1392|97% ( 97 % )|
|corporate and other|40|3% ( 3 % )|
|total capital program|$ 1432|100% ( 100 % )|
north america e&p 2013 approximately $ 1.2 billion of our capital program is allocated to our three core u.s . resource plays . eagle ford - approximately $ 600 million is planned , we expect to average five rigs and bring 124-132 gross-operated wells to sales . included in eagle ford spending is approximately $ 520 million for drilling and completions . the 2016 drilling program will continue to focus on the co-development of the lower and upper eagle ford horizons as well as austin chalk in the core of the play . oklahoma resource basins - spending of approximately $ 200 million is targeted , we expect to average two rigs which will focus primarily on lease retention in the stack and delineation of the meramec , and bring 20-22 gross-operated wells to sales . spending includes approximately $ 195 million for drilling and completions , including $ 55 million for outside-operated activity . we expect to be approximately 70% ( 70 % ) held by production in the stack by year end , with scoop already 90% ( 90 % ) held by production . bakken - we plan to spend just under $ 200 million in north dakota . drilling activity will average one rig for half of 2016 and bring online 13-15 gross-operated wells . bakken spending includes approximately $ 150 million for drilling and completions , including $ 75 million for outside-operated activity . facilities and infrastructure spending will be significantly lower than 2015 with the next phase of the water-gathering system scheduled to be complete in the second half of 2016 . international e&p 2013 approximately $ 170 million of our capital program is dedicated to our international assets , primarily in e.g . and the kurdistan region of iraq . the alba field compression project in e.g . remains on schedule to start up by mid- year , and will extend plateau production by two years as well as the asset 2019s life by up to eight years . approximately $ 30 million of our capital program will be spent on a targeted exploration program impacting both the north america e&p and the international e&p segments . activity in 2016 is limited to fulfilling existing commitments in the gulf of mexico and gabon , with no operated exploration wells planned . oil sands mining 2013 we expect to spend $ 40 million of the capital program for sustaining capital projects . the remainder of our capital program consists of corporate and other and is expected to total approximately $ 40 million . for information about expected exploration and development activities more specific to individual assets , see item 1 . business . production volumes we forecast 2016 production available for sale from the combined north america e&p and international e&p segments , excluding libya , to average 335 to 355 net mboed and the osm segment to average 40 to 50 net mbbld of synthetic crude oil. .
Question: was 2016 spending greater for international e&p than for oil sands mining?
Answer: | yes |
FINQA3630 | Please answer the given financial question based on the context.
Context: liabilities and related insurance receivables where applicable , or make such estimates for matters previously not susceptible of reasonable estimates , such as a significant judicial ruling or judgment , significant settlement , significant regulatory development or changes in applicable law . a future adverse ruling , settlement or unfavorable development could result in future charges that could have a material adverse effect on the company 2019s results of operations or cash flows in any particular period . a specific factor that could increase the company 2019s estimate of its future asbestos-related liabilities is the pending congressional consideration of legislation to reform asbestos- related litigation and pertinent information derived from that process . for a more detailed discussion of the legal proceedings involving the company and associated accounting estimates , see the discussion in note 11 to the consolidated financial statements of this annual report on form 10-k . item 1b . unresolved staff comments . item 2 . properties . 3m 2019s general offices , corporate research laboratories , and certain division laboratories are located in st . paul , minnesota . in the united states , 3m has 15 sales offices in 12 states and operates 59 manufacturing facilities in 23 states . internationally , 3m has 173 sales offices . the company operates 80 manufacturing and converting facilities in 29 countries outside the united states . 3m owns substantially all of its physical properties . 3m 2019s physical facilities are highly suitable for the purposes for which they were designed . because 3m is a global enterprise characterized by substantial intersegment cooperation , properties are often used by multiple business segments . item 3 . legal proceedings . discussion of legal matters is incorporated by reference from part ii , item 8 , note 11 , 201ccommitments and contingencies 201d , of this document , and should be considered an integral part of part i , item 3 , 201clegal proceedings 201d . item 4 . submission of matters to a vote of security holders . none in the quarter ended december 31 , 2005 . part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities . equity compensation plans 2019 information is incorporated by reference from part iii , item 12 , security ownership of certain beneficial owners and management , of this document , and should be considered an integral part of item 5 . at january 31 , 2006 , there were approximately 125823 shareholders of record . 3m 2019s stock is listed on the new york stock exchange , inc . ( nyse ) , pacific exchange , inc. , chicago stock exchange , inc. , and the swx swiss exchange . cash dividends declared and paid totaled $ .42 per share for each quarter of 2005 , and $ .36 per share for each quarter of 2004 . stock price comparisons follow : stock price comparisons ( nyse composite transactions ) ( per share amounts ) quarter second quarter quarter fourth quarter year .
|( per share amounts )|first quarter|second quarter|third quarter|fourth quarter|year|
|2005 high|$ 87.45|$ 86.21|$ 76.74|$ 79.84|$ 87.45|
|2005 low|80.73|$ 72.25|70.41|69.71|69.71|
|2004 high|$ 86.20|$ 90.29|$ 90.11|$ 83.03|$ 90.29|
|2004 low|74.35|80.90|77.20|73.31|73.31|
.
Question: in 2005 what was the quarterly dividend expense
Answer: | 52845.66 |
FINQA3631 | Please answer the given financial question based on the context.
Context: part iii item 10 . directors and executive officers of the registrant . pursuant to section 406 of the sarbanes-oxley act of 2002 , we have adopted a code of ethics for senior financial officers that applies to our principal executive officer and principal financial officer , principal accounting officer and controller , and other persons performing similar functions . our code of ethics for senior financial officers is publicly available on our website at www.hologic.com.we intend to satisfy the disclosure requirement under item 5.05 of current report on form 8-k regarding an amendment to , or waiver from , a provision of this code by posting such information on our website , at the address specified above . the additional information required by this item is incorporated by reference to our definitive proxy statement for our annual meeting of stockholders to be filed with the securities and exchange commission within 120 days after the close of our fiscal year . item 11 . executive compensation . the information required by this item is incorporated by reference to our definitive proxy statement for our annual meeting of stockholders to be filed with the securities and exchange commission within 120 days after the close of our fiscal year . item 12 . security ownership of certain beneficial owners and management and related stockholder matters . we maintain a number of equity compensation plans for employees , officers , directors and others whose efforts contribute to our success . the table below sets forth certain information as our fiscal year ended september 25 , 2004 regarding the shares of our common stock available for grant or granted under stock option plans that ( i ) were approved by our stockholders , and ( ii ) were not approved by our stockholders . equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2560530 $ 11.71 523390 equity compensation plans not approved by security holders ( 2 ) . . . . . . . . . . . . . . . . . . . . . . 865212 $ 9.06 321436 .
|plan category|number of securities to be issued upon exerciseof outstanding options warrants and rights ( a )|weighted-average exercise price of outstanding options warrants and rights ( b )|number of securities remaining available for future issuance under equitycompensation plans ( excluding securities reflected in column ( a ) ) ( c )|
|equity compensation plans approved by security holders ( 1 )|2560530|$ 11.71|523390|
|equity compensation plans not approved by security holders ( 2 )|865212|$ 9.06|321436|
|total|3425742|$ 11.04|844826|
( 1 ) includes the following plans : 1986 combination stock option plan ; amended and restated 1990 non-employee director stock option plan ; 1995 combination stock option plan ; amended and restated 1999 equity incentive plan ; and 2000 employee stock purchase plan . also includes the following plans which we assumed in connection with our acquisition of fluoroscan imaging systems in 1996 : fluoroscan imaging systems , inc . 1994 amended and restated stock incentive plan and fluoroscan imaging systems , inc . 1995 stock incentive plan . for a description of these plans , please refer to footnote 5 contained in our consolidated financial statements. .
Question: what would the total cash impact be if all outstanding options warrants and rights were exercised?
Answer: | 37820191.68 |
FINQA3632 | Please answer the given financial question based on the context.
Context: fidelity national information services , inc . and subsidiaries notes to consolidated financial statements - ( continued ) ( a ) intrinsic value is based on a closing stock price as of december 31 , 2016 of $ 75.64 . the weighted average fair value of options granted during the years ended december 31 , 2016 , 2015 and 2014 was estimated to be $ 9.35 , $ 10.67 and $ 9.15 , respectively , using the black-scholes option pricing model with the assumptions below: .
||2016|2015|2014|
|risk free interest rate|1.2% ( 1.2 % )|1.4% ( 1.4 % )|1.4% ( 1.4 % )|
|volatility|20.4% ( 20.4 % )|21.7% ( 21.7 % )|21.2% ( 21.2 % )|
|dividend yield|1.6% ( 1.6 % )|1.6% ( 1.6 % )|1.6% ( 1.6 % )|
|weighted average expected life ( years )|4.2|4.2|4.2|
the company estimates future forfeitures at the time of grant and revises those estimates in subsequent periods if actual forfeitures differ from those estimates . the company bases the risk-free interest rate that is used in the stock option valuation model on u.s . n treasury securities issued with maturities similar to the expected term of the options . the expected stock volatility factor is determined using historical daily price changes of the company's common stock over the most recent period commensurate with the expected term of the option and the impact of any expected trends . the dividend yield assumption is based on the current dividend yield at the grant tt date or management's forecasted expectations . the expected life assumption is determined by calculating the average term from the tt company's historical stock option activity and considering the impact of expected future trends . the company granted a total of 1 million restricted stock shares at prices ranging from $ 56.44 to $ 79.41 on various dates in 2016 . the company granted a total of 1 million restricted stock shares at prices ranging from $ 61.33 to $ 69.33 on various dates in 20t 15 . the company granted a total of 1 million restricted stock shares at prices ranging from $ 52.85 to $ 64.04 on various dates in 2014 . these shares were granted at the closing market price on the date of grant and vest annually over three years . as of december 31 , 2016 and 2015 , we have approximately 3 million and 4 million unvested restricted shares remaining . the december 31 , 2016 balance includes those rsu's converted in connection with the sungard acquisition as noted above . the company has provided for total stock compensation expense of $ 137 million , $ 98 million and $ 56 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , which is included in selling , general , and administrative expense in the consolidated statements of earnings , unless the expense is attributable to a discontinued operation . of the total stock compensation expense , $ 2 million for 2014 relates to liability based awards that will not be credited to additional paid in capital until issued . total d compensation expense for 2016 and 2015 did not include amounts relating to liability based awards . as of december 31 , 2016 and 2015 , the total unrecognized compensation cost related to non-vested stock awards is $ 141 million and $ 206 million , respectively , which is expected to be recognized in pre-tax income over a weighted average period of 1.4 years and 1.6 years , respectively . german pension plans our german operations have unfunded , defined benefit plan obligations . these obligations relate to benefits to be paid to germanaa employees upon retirement . the accumulated benefit obligation as of december 31 , 2016 and 2015 , was $ 49 million and $ 48 million , respectively , and the projected benefit obligation was $ 50 million and $ 49 million , respectively . the plan remains unfunded as of december 31 , 2016 . ( 15 ) divestitures and discontinued operations on december 7 , 2016 , the company entered into a definitive agreement to sell the sungard public sector and education ( "ps&e" ) businesses for $ 850 million . the transaction included all ps&e solutions , which provide a comprehensive set of technology solutions to address public safety and public administration needs of government entities as well asn the needs of k-12 school districts . the divestiture is consistent with our strategy to serve the financial services markets . we received cash proceeds , net of taxes and transaction-related expenses of approximately $ 500 million . net cash proceeds are expected to be used to reduce outstanding debt ( see note 10 ) . the ps&e businesses are included in the corporate and other segment . the transaction closed on february 1 , 2017 , resulting in an expected pre-tax gain ranging from $ 85 million to $ 90 million that will .
Question: what was the difference in millions of the accumulated benefit obligation as of december 31 , 2016 versus the projected benefit obligation?
Answer: | -1.0 |
FINQA3633 | Please answer the given financial question based on the context.
Context: operating cash flow from continuing operations for 2017 was $ 2.7 billion , a $ 191 million , or 8 percent increase compared with 2016 , reflecting higher earnings and favorable changes in working capital . operating cash flow from continuing operations of $ 2.5 billion in 2016 was a 23 percent increase compared to $ 2.0 billion in 2015 , as comparisons benefited from income taxes of $ 424 million paid on the gains from divestitures in 2015 . at september 30 , 2017 , operating working capital as a percent of sales increased to 6.6 percent due to higher levels of working capital in the acquired valves & controls business , compared with 5.2 percent and 7.2 percent in 2016 and 2015 , respectively . operating cash flow from continuing operations funded capital expenditures of $ 476 million , dividends of $ 1239 million , common stock purchases of $ 400 million , and was also used to partially pay down debt in 2017 . proceeds of $ 5.1 billion from the sales of the network power systems and power generation , motors and drives businesses funded acquisitions of $ 2990 million , cash used for discontinued operations of $ 778 million and repayments of short-term borrowings and long-term debt of approximately $ 1.3 billion . contributions to pension plans were $ 45 million in 2017 , $ 66 million in 2016 and $ 53 million in 2015 . capital expenditures related to continuing operations were $ 476 million , $ 447 million and $ 588 million in 2017 , 2016 and 2015 , respectively . free cash flow from continuing operations ( operating cash flow less capital expenditures ) was $ 2.2 billion in 2017 , up 8 percent . free cash flow was $ 2.1 billion in 2016 , compared with $ 1.5 billion in 2015 . the company is targeting capital spending of approximately $ 550 million in 2018 . net cash paid in connection with acquisitions was $ 2990 million , $ 132 million and $ 324 million in 2017 , 2016 and 2015 , respectively . proceeds from divestitures not classified as discontinued operations were $ 39 million in 2017 and $ 1812 million in 2015 . dividends were $ 1239 million ( $ 1.92 per share ) in 2017 , compared with $ 1227 million ( $ 1.90 per share ) in 2016 and $ 1269 million ( $ 1.88 per share ) in 2015 . in november 2017 , the board of directors voted to increase the quarterly cash dividend 1 percent , to an annualized rate of $ 1.94 per share . purchases of emerson common stock totaled $ 400 million , $ 601 million and $ 2487 million in 2017 , 2016 and 2015 , respectively , at average per share prices of $ 60.51 , $ 48.11 and $ 57.68 . the board of directors authorized the purchase of up to 70 million common shares in november 2015 , and 56.9 million shares remain available for purchase under this authorization . the company purchased 6.6 million shares in 2017 under the november 2015 authorization . in 2016 , the company purchased 12.5 million shares under a combination of the november 2015 authorization and the remainder of the may 2013 authorization . a total of 43.1 million shares were purchased in 2015 under the may 2013 authorization . leverage/capitalization ( dollars in millions ) 2015 2016 2017 .
|( dollars in millions )|2015|2016|2017|
|total assets|$ 22088|21732|19589|
|long-term debt|$ 4289|4051|3794|
|common stockholders' equity|$ 8081|7568|8718|
|total debt-to-total capital ratio|45.8% ( 45.8 % )|46.7% ( 46.7 % )|34.8% ( 34.8 % )|
|net debt-to-net capital ratio|31.3% ( 31.3 % )|31.3% ( 31.3 % )|15.4% ( 15.4 % )|
|operating cash flow-to-debt ratio|29.8% ( 29.8 % )|37.7% ( 37.7 % )|57.8% ( 57.8 % )|
|interest coverage ratio|20.2x|11.8x|12.6x|
total debt , which includes long-term debt , current maturities of long-term debt , commercial paper and other short-term borrowings , was $ 4.7 billion , $ 6.6 billion and $ 6.8 billion for 2017 , 2016 and 2015 , respectively . during the year , the company repaid $ 250 million of 5.125% ( 5.125 % ) notes that matured in december 2016 . in 2015 , the company issued $ 500 million of 2.625% ( 2.625 % ) notes due december 2021 and $ 500 million of 3.150% ( 3.150 % ) notes due june 2025 , and repaid $ 250 million of 5.0% ( 5.0 % ) notes that matured in december 2014 and $ 250 million of 4.125% ( 4.125 % ) notes that matured in april 2015 . the total debt-to-capital ratio and the net debt-to-net capital ratio ( less cash and short-term investments ) decreased in 2017 due to lower total debt outstanding and higher common stockholders 2019 equity from changes in other comprehensive income . the total debt-to-capital ratio and the net debt-to-net capital ratio ( less cash and short-term investments ) increased in 2016 due to lower common stockholders 2019 equity from share repurchases and changes in other comprehensive income . the operating cash flow from continuing operations-to-debt ratio increased in 2017 primarily due to lower debt in the current year . the operating cash flow from continuing operations-to- debt ratio increased in 2016 primarily due to taxes paid in 2015 on the divestiture gains and lower debt in 2016 . the interest coverage ratio is computed as earnings from continuing operations before income taxes plus interest expense , divided by interest expense . the increase in interest coverage in 2017 reflects lower interest expense in the current year . the decrease in interest coverage in 2016 reflects lower pretax earnings , largely due to the divestiture gains of $ 1039 million in 2015 , and slightly higher interest expense . in april 2014 , the company entered into a $ 3.5 billion five- year revolving backup credit facility with various banks , which replaced the december 2010 $ 2.75 billion facility . the credit facility is maintained to support general corporate purposes , including commercial paper borrowing . the company has not incurred any borrowings under this or previous facilities . the credit facility contains no financial covenants and is not subject to termination based on a change of credit rating or material adverse changes . the facility is unsecured and may be accessed under various interest rate and currency denomination alternatives at the company 2019s option . fees to maintain the facility are immaterial . the company also maintains a universal shelf registration statement on file with the sec under which .
Question: what percentage of total debt was long-term debt in 2016?
Answer: | 0.61379 |
FINQA3634 | Please answer the given financial question based on the context.
Context: our consolidated net cash flows used for investing activities were $ 4.2 billion in 2010 , compared with $ 3.2 billion in 2009 . net investing activities for the indicated periods were related primarily to net purchases of fixed maturities and for 2010 included the acquisitions of rain and hail and jerneh insurance berhad . our consolidated net cash flows from financing activities were $ 732 million in 2010 , compared with net cash flows used for financing activities of $ 321 million in 2009 . net cash flows from/used for financing activities in 2010 and 2009 , included dividends paid on our common shares of $ 435 million and $ 388 million , respectively . net cash flows from financing activ- ities in 2010 , included net proceeds of $ 699 million from the issuance of long-term debt , $ 1 billion in reverse repurchase agreements , and $ 300 million in credit facility borrowings . this was partially offset by repayment of $ 659 million in debt and share repurchases settled in 2010 of $ 235 million . for 2009 , net cash flows used for financing activities included net pro- ceeds from the issuance of $ 500 million in long-term debt and the net repayment of debt and reverse repurchase agreements of $ 466 million . both internal and external forces influence our financial condition , results of operations , and cash flows . claim settle- ments , premium levels , and investment returns may be impacted by changing rates of inflation and other economic conditions . in many cases , significant periods of time , ranging up to several years or more , may lapse between the occurrence of an insured loss , the reporting of the loss to us , and the settlement of the liability for that loss . from time to time , we utilize reverse repurchase agreements as a low-cost alternative for short-term funding needs . we use these instruments on a limited basis to address short-term cash timing differences without disrupting our investment portfolio holdings and settle the transactions with future operating cash flows . at december 31 , 2010 , there were $ 1 billion in reverse repurchase agreements outstanding ( refer to short-term debt ) . in addition to cash from operations , routine sales of investments , and financing arrangements , we have agreements with a bank provider which implemented two international multi-currency notional cash pooling programs to enhance cash management efficiency during periods of short-term timing mismatches between expected inflows and outflows of cash by currency . in each program , participating ace entities establish deposit accounts in different currencies with the bank provider and each day the credit or debit balances in every account are notionally translated into a single currency ( u.s . dollars ) and then notionally pooled . the bank extends overdraft credit to any participating ace entity as needed , provided that the overall notionally-pooled balance of all accounts in each pool at the end of each day is at least zero . actual cash balances are not physically converted and are not co-mingled between legal entities . ace entities may incur overdraft balances as a means to address short-term timing mismatches , and any overdraft balances incurred under this program by an ace entity would be guaranteed by ace limited ( up to $ 150 million in the aggregate ) . our revolving credit facility allows for same day drawings to fund a net pool overdraft should participating ace entities withdraw contributed funds from the pool . capital resources capital resources consist of funds deployed or available to be deployed to support our business operations . the following table summarizes the components of our capital resources at december 31 , 2010 , and 2009. .
|( in millions of u.s . dollars except for percentages )|2010|2009|
|short-term debt|$ 1300|$ 161|
|long-term debt|3358|3158|
|total debt|4658|3319|
|trust preferred securities|309|309|
|total shareholders 2019 equity|22974|19667|
|total capitalization|$ 27941|$ 23295|
|ratio of debt to total capitalization|16.7% ( 16.7 % )|14.2% ( 14.2 % )|
|ratio of debt plus trust preferred securities to total capitalization|17.8% ( 17.8 % )|15.6% ( 15.6 % )|
our ratios of debt to total capitalization and debt plus trust preferred securities to total capitalization have increased temporarily due to the increase in short-term debt , as discussed below . we expect that these ratios will decline over the next six to nine months as we repay the short-term debt . we believe our financial strength provides us with the flexibility and capacity to obtain available funds externally through debt or equity financing on both a short-term and long-term basis . our ability to access the capital markets is dependent on , among other things , market conditions and our perceived financial strength . we have accessed both the debt and equity markets from time to time. .
Question: in 2010 what was the ratio of the total debt to the shareholders equity
Answer: | 0.20275 |
FINQA3635 | Please answer the given financial question based on the context.
Context: 4 . business restructuring and cost reduction actions the charges we record for business restructuring and cost reduction actions have been excluded from segment operating income and are reflected on the consolidated income statements as 201cbusiness restructuring and cost reduction actions . 201d 2014 charge on 18 september 2014 , we announced plans to reorganize the company , including realignment of our businesses in new reporting segments and organizational changes , effective as of 1 october 2014 . refer to note 25 , business segment and geographic information , for additional details . as a result of this initiative , we will incur ongoing severance and other charges . during the fourth quarter of 2014 , an expense of $ 12.7 ( $ 8.2 after-tax , or $ .04 per share ) was incurred relating to the elimination of approximately 50 positions . the 2014 charge related to the businesses at the segment level as follows : $ 4.4 in merchant gases , $ 4.1 in tonnage gases , $ 2.4 in electronics and performance materials , and $ 1.8 in equipment and energy . 2013 plan during the fourth quarter of 2013 , we recorded an expense of $ 231.6 ( $ 157.9 after-tax , or $ .74 per share ) reflecting actions to better align our cost structure with current market conditions . the asset and contract actions primarily impacted the electronics business due to continued weakness in the photovoltaic ( pv ) and light-emitting diode ( led ) markets . the severance and other contractual benefits primarily impacted our merchant gases business and corporate functions in response to weaker than expected business conditions in europe and asia , reorganization of our operations and functional areas , and previously announced senior executive changes . the remaining planned actions associated with severance were completed in the first quarter of 2015 . the 2013 charges relate to the businesses at the segment level as follows : $ 61.0 in merchant gases , $ 28.6 in tonnage gases , $ 141.0 in electronics and performance materials , and $ 1.0 in equipment and energy . the following table summarizes the carrying amount of the accrual for the 2013 plan at 30 september 2014 : severance and other benefits actions contract actions/other total .
||severance and other benefits|asset actions|contract actions/other|total|
|2013 charge|$ 71.9|$ 100.4|$ 59.3|$ 231.6|
|amount reflected in pension liability|-6.9 ( 6.9 )|2014|2014|-6.9 ( 6.9 )|
|noncash expenses|2014|-100.4 ( 100.4 )|2014|-100.4 ( 100.4 )|
|cash expenditures|-3.0 ( 3.0 )|2014|-58.5 ( 58.5 )|-61.5 ( 61.5 )|
|currency translation adjustment|.4|2014|2014|.4|
|30 september 2013|$ 62.4|$ 2014|$ .8|$ 63.2|
|cash expenditures|-51.7 ( 51.7 )|2014|-.8 ( .8 )|-52.5 ( 52.5 )|
|currency translation adjustment|-.6 ( .6 )|2014|2014|-.6 ( .6 )|
|30 september 2014|$ 10.1|$ 2014|$ 2014|$ 10.1|
.
Question: taking into account the 2014 charge related to the businesses for a segment , what is the percentage of the merchant gases segment concerning all of them?
Answer: | 0.34646 |
FINQA3636 | Please answer the given financial question based on the context.
Context: subscription cost of subscription revenue consists of third-party royalties and expenses related to operating our network infrastructure , including depreciation expenses and operating lease payments associated with computer equipment , data center costs , salaries and related expenses of network operations , implementation , account management and technical support personnel , amortization of intangible assets and allocated overhead . we enter into contracts with third-parties for the use of their data center facilities and our data center costs largely consist of the amounts we pay to these third parties for rack space , power and similar items . cost of subscription revenue increased due to the following : % ( % ) change 2014-2013 % ( % ) change 2013-2012 .
||% ( % ) change2014-2013|% ( % ) change2013-2012|
|data center cost|10% ( 10 % )|11% ( 11 % )|
|compensation cost and related benefits associated with headcount|4|5|
|depreciation expense|3|3|
|royalty cost|3|4|
|amortization of purchased intangibles|2014|4|
|various individually insignificant items|1|2014|
|total change|21% ( 21 % )|27% ( 27 % )|
cost of subscription revenue increased during fiscal 2014 as compared to fiscal 2013 primarily due to data center costs , compensation cost and related benefits , deprecation expense , and royalty cost . data center costs increased as compared with the year-ago period primarily due to higher transaction volumes in our adobe marketing cloud and creative cloud services . compensation cost and related benefits increased as compared to the year-ago period primarily due to additional headcount in fiscal 2014 , including from our acquisition of neolane in the third quarter of fiscal 2013 . depreciation expense increased as compared to the year-ago period primarily due to higher capital expenditures in recent periods as we continue to invest in our network and data center infrastructure to support the growth of our business . royalty cost increased primarily due to increases in subscriptions and downloads of our saas offerings . cost of subscription revenue increased during fiscal 2013 as compared to fiscal 2012 primarily due to increased hosted server costs and amortization of purchased intangibles . hosted server costs increased primarily due to increases in data center costs related to higher transaction volumes in our adobe marketing cloud and creative cloud services , depreciation expense from higher capital expenditures in prior years and compensation and related benefits driven by additional headcount . amortization of purchased intangibles increased primarily due to increased amortization of intangible assets purchased associated with our acquisitions of behance and neolane in fiscal 2013 . services and support cost of services and support revenue is primarily comprised of employee-related costs and associated costs incurred to provide consulting services , training and product support . cost of services and support revenue increased during fiscal 2014 as compared to fiscal 2013 primarily due to increases in compensation and related benefits driven by additional headcount and third-party fees related to training and consulting services provided to our customers . cost of services and support revenue increased during fiscal 2013 as compared to fiscal 2012 primarily due to increases in third-party fees related to training and consulting services provided to our customers and compensation and related benefits driven by additional headcount , including headcount from our acquisition of neolane in fiscal 2013. .
Question: from the years 2014-2013 to 2013-2012 , what was the change in percentage points of depreciation expense?
Answer: | 0.0 |
FINQA3637 | Please answer the given financial question based on the context.
Context: loss on the contract may be recorded , if necessary , and any remaining deferred implementation revenues would typically be recognized over the remaining service period through the termination date . in connection with our long-term outsourcing service agreements , highly customized implementation efforts are often necessary to set up clients and their human resource or benefit programs on our systems and operating processes . for outsourcing services sold separately or accounted for as a separate unit of accounting , specific , incremental and direct costs of implementation incurred prior to the services commencing are generally deferred and amortized over the period that the related ongoing services revenue is recognized . deferred costs are assessed for recoverability on a periodic basis to the extent the deferred cost exceeds related deferred revenue . pensions we sponsor defined benefit pension plans throughout the world . our most significant plans are located in the u.s. , the u.k. , the netherlands and canada . our significant u.s. , u.k. , netherlands and canadian pension plans are closed to new entrants . we have ceased crediting future benefits relating to salary and service for our u.s. , u.k. , netherlands and canadian plans to the extent statutorily permitted . in 2016 , we estimate pension and post-retirement net periodic benefit cost for major plans to increase by $ 15 million to a benefit of approximately $ 54 million . the increase in the benefit is primarily due to a change in our approach to measuring service and interest cost . effective december 31 , 2015 and for 2016 expense , we have elected to utilize a full yield curve approach in the estimation of the service and interest cost components of net periodic pension and post-retirement benefit cost for our major pension and other post-retirement benefit plans by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows . in 2015 and prior years , we estimated these components of net periodic pension and post-retirement benefit cost by applying a single weighted-average discount rate , derived from the yield curve used to measure the benefit obligation at the beginning of the period . we have made this change to improve the correlation between projected benefit cash flows and the corresponding yield curve spot rates and to provide a more precise measurement of service and interest costs . this change does not affect the measurement of the projected benefit obligation as the change in the service cost and interest cost is completely offset in the actuarial ( gain ) loss recorded in other comprehensive income . we accounted for this change as a change in estimate and , accordingly , will account for it prospectively . recognition of gains and losses and prior service certain changes in the value of the obligation and in the value of plan assets , which may occur due to various factors such as changes in the discount rate and actuarial assumptions , actual demographic experience and/or plan asset performance are not immediately recognized in net income . such changes are recognized in other comprehensive income and are amortized into net income as part of the net periodic benefit cost . unrecognized gains and losses that have been deferred in other comprehensive income , as previously described , are amortized into compensation and benefits expense as a component of periodic pension expense based on the average life expectancy of the u.s. , the netherlands , canada , and u.k . plan members . we amortize any prior service expense or credits that arise as a result of plan changes over a period consistent with the amortization of gains and losses . as of december 31 , 2015 , our pension plans have deferred losses that have not yet been recognized through income in the consolidated financial statements . we amortize unrecognized actuarial losses outside of a corridor , which is defined as 10% ( 10 % ) of the greater of market-related value of plan assets or projected benefit obligation . to the extent not offset by future gains , incremental amortization as calculated above will continue to affect future pension expense similarly until fully amortized . the following table discloses our unrecognized actuarial gains and losses , the number of years over which we are amortizing the experience loss , and the estimated 2016 amortization of loss by country ( amounts in millions ) : .
||u.k .|u.s .|other|
|unrecognized actuarial gains and losses|$ 1511|$ 1732|$ 382|
|amortization period ( in years )|10 - 32|7 - 28|15 - 41|
|estimated 2016 amortization of loss|$ 37|$ 52|$ 10|
the unrecognized prior service cost ( income ) at december 31 , 2015 was $ 9 million , $ 46 million , and $ ( 7 ) million in the u.s. , u.k . and other plans , respectively . for the u.s . pension plans we use a market-related valuation of assets approach to determine the expected return on assets , which is a component of net periodic benefit cost recognized in the consolidated statements of income . this approach .
Question: what was the ratio of the uk unrecognized actuarial gains and losses to the us in 2016
Answer: | 0.8724 |
FINQA3638 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) operating income increased during 2017 when compared to 2016 , comprised of a decrease in revenue of $ 42.1 , as discussed above , a decrease in salaries and related expenses of $ 28.0 and a decrease in office and general expenses of $ 16.9 . the decrease in salaries and related expenses was primarily due to lower discretionary bonuses and incentive expense as well as a decrease in base salaries , benefits and tax . the decrease in office and general expenses was primarily due to decreases in adjustments to contingent acquisition obligations , as compared to the prior year . operating income increased during 2016 when compared to 2015 due to an increase in revenue of $ 58.8 , as discussed above , and a decrease in office and general expenses of $ 3.7 , partially offset by an increase in salaries and related expenses of $ 38.8 . the increase in salaries and related expenses was attributable to an increase in base salaries , benefits and tax primarily due to increases in our workforce to support business growth over the last twelve months . the decrease in office and general expenses was primarily due to lower production expenses related to pass-through costs , which are also reflected in revenue , for certain projects in which we acted as principal that decreased in size or did not recur during the current year . corporate and other certain corporate and other charges are reported as a separate line item within total segment operating income and include corporate office expenses , as well as shared service center and certain other centrally managed expenses that are not fully allocated to operating divisions . salaries and related expenses include salaries , long-term incentives , annual bonuses and other miscellaneous benefits for corporate office employees . office and general expenses primarily include professional fees related to internal control compliance , financial statement audits and legal , information technology and other consulting services that are engaged and managed through the corporate office . office and general expenses also include rental expense and depreciation of leasehold improvements for properties occupied by corporate office employees . a portion of centrally managed expenses are allocated to operating divisions based on a formula that uses the planned revenues of each of the operating units . amounts allocated also include specific charges for information technology-related projects , which are allocated based on utilization . corporate and other expenses decreased during 2017 by $ 20.6 to $ 126.6 compared to 2016 , primarily due to lower annual incentive expense . corporate and other expenses increased during 2016 by $ 5.4 to $ 147.2 compared to 2015 . liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity , capital resources and uses of capital. .
|cash flow data|years ended december 31 , 2017|years ended december 31 , 2016|years ended december 31 , 2015|
|net income adjusted to reconcile to net cash provided by operating activities1|$ 887.3|$ 1023.2|$ 848.8|
|net cash used in working capital2|-29.9 ( 29.9 )|-414.9 ( 414.9 )|-99.9 ( 99.9 )|
|changes in other non-current assets and liabilities|24.4|-95.5 ( 95.5 )|-60.4 ( 60.4 )|
|net cash provided by operating activities|$ 881.8|$ 512.8|$ 688.5|
|net cash used in investing activities|-196.2 ( 196.2 )|-263.9 ( 263.9 )|-199.7 ( 199.7 )|
|net cash used in financing activities|-1004.9 ( 1004.9 )|-666.4 ( 666.4 )|-490.9 ( 490.9 )|
1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets , amortization of restricted stock and other non-cash compensation , net losses on sales of businesses and deferred income taxes . 2 reflects changes in accounts receivable , expenditures billable to clients , other current assets , accounts payable and accrued liabilities . operating activities due to the seasonality of our business , we typically use cash from working capital in the first nine months of a year , with the largest impact in the first quarter , and generate cash from working capital in the fourth quarter , driven by the seasonally strong media spending by our clients . quarterly and annual working capital results are impacted by the fluctuating annual media spending budgets of our clients as well as their changing media spending patterns throughout each year across various countries. .
Question: what is the net change in cash for 2017?
Answer: | -319.3 |
FINQA3639 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2014 ( continued ) the following table summarizes the changes in non-vested restricted stock awards for the year ended may 31 , 2009 ( share awards in thousands ) : share awards weighted average grant-date fair value .
||share awards|weighted average grant-date fair value|
|non-vested at may 31 2007|278|$ 37|
|granted|400|38|
|vested|-136 ( 136 )|30|
|forfeited|-24 ( 24 )|40|
|non-vested at may 31 2008|518|39|
|granted|430|43|
|vested|-159 ( 159 )|39|
|forfeited|-27 ( 27 )|41|
|non-vested at may 31 2009|762|42|
the weighted average grant-date fair value of share awards granted in the years ended may 31 , 2008 and 2007 was $ 38 and $ 45 , respectively . the total fair value of share awards vested during the years ended may 31 , 2009 , 2008 and 2007 was $ 6.2 million , $ 4.1 million and $ 1.7 million , respectively . we recognized compensation expense for restricted stock of $ 9.0 million , $ 5.7 million , and $ 2.7 million in the years ended may 31 , 2009 , 2008 and 2007 . as of may 31 , 2009 , there was $ 23.5 million of total unrecognized compensation cost related to unvested restricted stock awards that is expected to be recognized over a weighted average period of 2.9 years . employee stock purchase plan we have an employee stock purchase plan under which the sale of 2.4 million shares of our common stock has been authorized . employees may designate up to the lesser of $ 25000 or 20% ( 20 % ) of their annual compensation for the purchase of stock . the price for shares purchased under the plan is 85% ( 85 % ) of the market value on the last day of the quarterly purchase period . as of may 31 , 2009 , 0.8 million shares had been issued under this plan , with 1.6 million shares reserved for future issuance . the weighted average grant-date fair value of each designated share purchased under this plan was $ 6 , $ 6 and $ 8 in the years ended may 31 , 2009 , 2008 and 2007 , respectively . these values represent the fair value of the 15% ( 15 % ) discount . note 12 2014segment information general information during fiscal 2009 , we began assessing our operating performance using a new segment structure . we made this change as a result of our june 30 , 2008 acquisition of 51% ( 51 % ) of hsbc merchant services llp in the united kingdom , in addition to anticipated future international expansion . beginning with the quarter ended august 31 , 2008 , the reportable segments are defined as north america merchant services , international merchant services , and money transfer . the following tables reflect these changes and such reportable segments for fiscal years 2009 , 2008 , and 2007. .
Question: what was the percentage increase of total fair value of share awards vested from 2007 to 2009?
Answer: | 2.64706 |
FINQA3640 | Please answer the given financial question based on the context.
Context: liquidity and capital resources .
|cash cash equivalents and short-term investments|1999 $ 498.7|change 83% ( 83 % )|1998 $ 272.5|change ( 46 ) % ( % )|1997 $ 503.0|
|working capital|$ 355.4|73% ( 73 % )|$ 205.0|( 55 ) % ( % )|$ 454.3|
|stockholders' equity|$ 512.2|( 0.8 ) % ( % )|$ 516.4|( 28 ) % ( % )|$ 715.4|
our cash , cash equivalents , and short-term investments consist principally of money market mutual funds , municipal bonds , and united states government agency securities . all of our cash equivalents and short-term investments are classified as available-for-sale under the provisions of sfas 115 , 2018 2018accounting for certain investments in debt and equity securities . 2019 2019 the securities are carried at fair value with the unrealized gains and losses , net of tax , included in accumulated other comprehensive income , which is reflected as a separate component of stockholders 2019 equity . our cash , cash equivalents , and short-term investments increased $ 226.2 million , or 83% ( 83 % ) , in fiscal 1999 , primarily due to cash generated from operations of $ 334.2 million , proceeds from the issuance of treasury stock related to the exercise of stock options under our stock option plans and sale of stock under the employee stock purchase plan of $ 142.9 million , and the release of restricted funds totaling $ 130.3 million associated with the refinancing of our corporate headquarters lease agreement . other sources of cash include the proceeds from the sale of equity securities and the sale of a building in the amount of $ 63.9 million and $ 40.6 million , respectively . in addition , short-term investments increased due to a reclassification of $ 46.7 million of investments classified as long-term to short-term as well as mark-to-market adjustments totaling $ 81.2 million . these factors were partially offset by the purchase of treasury stock in the amount of $ 479.2 million , capital expenditures of $ 42.2 million , the purchase of other assets for $ 43.5 million , the purchase of the assets of golive systems and attitude software for $ 36.9 million , and the payment of dividends totaling $ 12.2 million . we expect to continue our investing activities , including expenditures for computer systems for research and development , sales and marketing , product support , and administrative staff . furthermore , cash reserves may be used to purchase treasury stock and acquire software companies , products , or technologies that are complementary to our business . in september 1997 , adobe 2019s board of directors authorized , subject to certain business and market conditions , the purchase of up to 30.0 million shares of our common stock over a two-year period . we repurchased approximately 1.7 million shares in the first quarter of fiscal 1999 , 20.3 million shares in fiscal 1998 , and 8.0 million shares in fiscal 1997 , at a cost of $ 30.5 million , $ 362.4 million , and $ 188.6 million , respectively . this program was completed during the first quarter of fiscal 1999 . in april 1999 , adobe 2019s board of directors authorized , subject to certain business and market conditions , the purchase of up to an additional 5.0 million shares of our common stock over a two-year period . this new stock repurchase program was in addition to an existing program whereby we have been authorized to repurchase shares to offset issuances under employee stock option and stock purchase plans . no purchases have been made under the 5.0 million share repurchase program . under our existing plan to repurchase shares to offset issuances under employee stock plans , we repurchased approximately 11.2 million , 0.7 million , and 4.6 million shares in fiscal 1999 , 1998 , and 1997 , respectively , at a cost of $ 448.7 million , $ 16.8 million , and $ 87.0 million , respectively . we have paid cash dividends on our common stock each quarter since the second quarter of 1988 . adobe 2019s board of directors declared a cash dividend on our common stock of $ 0.025 per common share for each of the four quarters in fiscal 1999 , 1998 , and 1997 . on december 1 , 1997 , we dividended one share of siebel common stock for each 600 shares of adobe common stock held by stockholders of record on october 31 , 1997 . an equivalent cash dividend was paid for holdings of less than 15000 adobe shares and .
Question: of the increase in short-term investments , how much was due to a reclassification of investments classified as long-term to short-term as well as mark-to-market adjustments ?
Answer: | 127.9 |
FINQA3641 | Please answer the given financial question based on the context.
Context: page 31 of 98 additional details about the company 2019s receivables sales agreement and debt are available in notes 6 and 12 , respectively , accompanying the consolidated financial statements within item 8 of this report . other liquidity items cash payments required for long-term debt maturities , rental payments under noncancellable operating leases and purchase obligations in effect at december 31 , 2006 , are summarized in the following table: .
|( $ in millions )|payments due by period ( a ) total|payments due by period ( a ) less than1 year|payments due by period ( a ) 1-3 years|payments due by period ( a ) 3-5 years|payments due by period ( a ) more than 5 years|
|long-term debt|$ 2301.6|$ 38.5|$ 278.4|$ 972.9|$ 1011.8|
|capital lease obligations|7.6|2.7|2.4|0.4|2.1|
|interest payments on long-term debt ( b )|826.5|138.8|259.4|204.8|223.5|
|operating leases|185.9|45.0|58.5|38.7|43.7|
|purchase obligations ( c )|7450.4|2682.5|3169.4|1524.6|73.9|
|total payments on contractual obligations|$ 10772.0|$ 2907.5|$ 3768.1|$ 2741.4|$ 1355.0|
total payments on contractual obligations $ 10772.0 $ 2907.5 $ 3768.1 $ 2741.4 $ 1355.0 ( a ) amounts reported in local currencies have been translated at the year-end exchange rates . ( b ) for variable rate facilities , amounts are based on interest rates in effect at year end . ( c ) the company 2019s purchase obligations include contracted amounts for aluminum , steel , plastic resin and other direct materials . also included are commitments for purchases of natural gas and electricity , aerospace and technologies contracts and other less significant items . in cases where variable prices and/or usage are involved , management 2019s best estimates have been used . depending on the circumstances , early termination of the contracts may not result in penalties and , therefore , actual payments could vary significantly . contributions to the company 2019s defined benefit pension plans , not including the unfunded german plans , are expected to be $ 69.1 million in 2007 . this estimate may change based on plan asset performance . benefit payments related to these plans are expected to be $ 62.6 million , $ 65.1 million , $ 68.9 million , $ 73.9 million and $ 75.1 million for the years ending december 31 , 2007 through 2011 , respectively , and $ 436.7 million combined for 2012 through 2016 . payments to participants in the unfunded german plans are expected to be $ 24.6 million , $ 25.1 million , $ 25.5 million , $ 25.9 million and $ 26.1 million in the years 2007 through 2011 , respectively , and a total of $ 136.6 million thereafter . we reduced our share repurchase program in 2006 to $ 45.7 million , net of issuances , compared to $ 358.1 million net repurchases in 2005 and $ 50 million in 2004 . the net repurchases in 2006 did not include a forward contract entered into in december 2006 for the repurchase of 1200000 shares . the contract was settled on january 5 , 2007 , for $ 51.9 million in cash . in 2007 we expect to repurchase approximately $ 175 million , net of issuances , and to reduce debt levels by more than $ 125 million . annual cash dividends paid on common stock were 40 cents per share in 2006 and 2005 and 35 cents per share in 2004 . total dividends paid were $ 41 million in 2006 , $ 42.5 million in 2005 and $ 38.9 million in 2004. .
Question: what is the percentage reduction in the spending on the share repurchase program in 2006 compared to 2005?\\n
Answer: | 0.87238 |
FINQA3642 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis net revenues in equities were $ 8.21 billion for 2012 , essentially unchanged compared with 2011 . net revenues in securities services were significantly higher compared with 2011 , reflecting a gain of $ 494 million on the sale of our hedge fund administration business . in addition , equities client execution net revenues were higher than 2011 , primarily reflecting significantly higher results in cash products , principally due to increased levels of client activity . these increases were offset by lower commissions and fees , reflecting declines in the united states , europe and asia . our average daily volumes during 2012 were lower in each of these regions compared with 2011 , consistent with listed cash equity market volumes . during 2012 , equities operated in an environment generally characterized by an increase in global equity prices and lower volatility levels . the net loss attributable to the impact of changes in our own credit spreads on borrowings for which the fair value option was elected was $ 714 million ( $ 433 million and $ 281 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2012 , compared with a net gain of $ 596 million ( $ 399 million and $ 197 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2011 . during 2012 , institutional client services operated in an environment generally characterized by continued broad market concerns and uncertainties , although positive developments helped to improve market conditions . these developments included certain central bank actions to ease monetary policy and address funding risks for european financial institutions . in addition , the u.s . economy posted stable to improving economic data , including favorable developments in unemployment and housing . these improvements resulted in tighter credit spreads , higher global equity prices and lower levels of volatility . however , concerns about the outlook for the global economy and continued political uncertainty , particularly the political debate in the united states surrounding the fiscal cliff , generally resulted in client risk aversion and lower activity levels . also , uncertainty over financial regulatory reform persisted . operating expenses were $ 12.48 billion for 2012 , 3% ( 3 % ) lower than 2011 , primarily due to lower brokerage , clearing , exchange and distribution fees , and lower impairment charges , partially offset by higher net provisions for litigation and regulatory proceedings . pre- tax earnings were $ 5.64 billion in 2012 , 27% ( 27 % ) higher than 2011 . investing & lending investing & lending includes our investing activities and the origination of loans to provide financing to clients . these investments , some of which are consolidated , and loans are typically longer-term in nature . we make investments , directly and indirectly through funds that we manage , in debt securities and loans , public and private equity securities , and real estate entities . the table below presents the operating results of our investing & lending segment. .
|in millions|year ended december 2013|year ended december 2012|year ended december 2011|
|equity securities|$ 3930|$ 2800|$ 603|
|debt securities and loans|1947|1850|96|
|other|1141|1241|1443|
|total net revenues|7018|5891|2142|
|operating expenses|2684|2666|2673|
|pre-tax earnings/ ( loss )|$ 4334|$ 3225|$ -531 ( 531 )|
2013 versus 2012 . net revenues in investing & lending were $ 7.02 billion for 2013 , 19% ( 19 % ) higher than 2012 , reflecting a significant increase in net gains from investments in equity securities , driven by company-specific events and stronger corporate performance , as well as significantly higher global equity prices . in addition , net gains and net interest income from debt securities and loans were slightly higher , while other net revenues , related to our consolidated investments , were lower compared with 2012 . if equity markets decline or credit spreads widen , net revenues in investing & lending would likely be negatively impacted . operating expenses were $ 2.68 billion for 2013 , essentially unchanged compared with 2012 . operating expenses during 2013 included lower impairment charges and lower operating expenses related to consolidated investments , partially offset by increased compensation and benefits expenses due to higher net revenues compared with 2012 . pre-tax earnings were $ 4.33 billion in 2013 , 34% ( 34 % ) higher than 2012 . 52 goldman sachs 2013 annual report .
Question: what percentage of total net revenues investing & lending segment were attributable to equity securities in 2012?
Answer: | 0.4753 |
FINQA3643 | Please answer the given financial question based on the context.
Context: packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2006 4 . stock-based compensation ( continued ) same period was $ 1988000 lower , than if it had continued to account for share-based compensation under apb no . 25 . basic and diluted earnings per share for the year ended december 31 , 2006 were both $ 0.02 lower than if the company had continued to account for share-based compensation under apb no . 25 . prior to the adoption of sfas no . 123 ( r ) , the company presented all tax benefits of deductions resulting from share-based payment arrangements as operating cash flows in the statements of cash flows . sfas no . 123 ( r ) requires the cash flows resulting from the tax benefits from tax deductions in excess of the compensation cost recognized for those share awards ( excess tax benefits ) to be classified as financing cash flows . the excess tax benefit of $ 2885000 classified as a financing cash inflow for the year ended december 31 , 2006 would have been classified as an operating cash inflow if the company had not adopted sfas no . 123 ( r ) . as a result of adopting sfas no 123 ( r ) , unearned compensation previously recorded in stockholders 2019 equity was reclassified against additional paid in capital on january 1 , 2006 . all stock-based compensation expense not recognized as of december 31 , 2005 and compensation expense related to post 2005 grants of stock options and amortization of restricted stock will be recorded directly to additional paid in capital . compensation expense for stock options and restricted stock recognized in the statements of income for the year ended december 31 , 2006 , 2005 and 2004 was as follows : year ended december 31 , ( in thousands ) 2006 2005 2004 .
|( in thousands )|year ended december 31 , 2006|year ended december 31 , 2005|year ended december 31 , 2004|
|stock options|$ -3273 ( 3273 )|$ 2014|$ 2014|
|restricted stock|-2789 ( 2789 )|-1677 ( 1677 )|-663 ( 663 )|
|impact on income before income taxes|-6062 ( 6062 )|-1677 ( 1677 )|-663 ( 663 )|
|income tax benefit|2382|661|260|
|impact on net income|$ -3680 ( 3680 )|$ -1016 ( 1016 )|$ -403 ( 403 )|
.
Question: for 2006 , was stock options expense greater than restricted stock expense?
Answer: | yes |
FINQA3644 | Please answer the given financial question based on the context.
Context: alexion pharmaceuticals , inc . notes to consolidated financial statements 2014 ( continued ) for the years ended december 31 , 2007 and 2006 , five month period ended december 31 , 2005 , and year ended july 31 , 2005 ( amounts in thousands , except share and per share amounts ) in 2006 , we completed a final phase iii trial of pexelizumab . after reviewing results from that trial , we along with p&g , determined not to pursue further development of pexelizumab . effective march 30 , 2007 , we and p&g mutually agreed to terminate the collaboration agreement . as the relevant agreement has been terminated in march 2007 , the remaining portion of the $ 10000 non-refundable up-front license fee , or $ 5343 , was recognized as revenue in the year ended december 31 , 2007 and is included in contract research revenues . license and research and development agreements we have entered into a number of license , research and development and manufacturing development agreements since our inception . these agreements have been made with various research institutions , universities , contractors , collaborators , and government agencies in order to advance and obtain technologies and services related to our business . license agreements generally provide for an initial fee followed by annual minimum royalty payments . additionally , certain agreements call for future payments upon the attainment of agreed upon milestones , such as , but not limited to , investigational new drug , or ind , application or approval of biologics license application . these agreements require minimum royalty payments based on sales of products developed from the applicable technologies , if any . clinical and manufacturing development agreements generally provide for us to fund manufacturing development and on-going clinical trials . clinical trial and development agreements include contract services and outside contractor services including contracted clinical site services related to patient enrolment for our clinical trials . manufacturing development agreements include clinical manufacturing and manufacturing development and scale-up . we have executed a large-scale product supply agreement with lonza sales ag for the long-term commercial manufacture of soliris ( see note 9 ) . in order to maintain our rights under these agreements , we may be required to provide a minimum level of funding or support . we may elect to terminate these arrangements . accordingly , we recognize the expense and related obligation related to these arrangements over the period of performance . the minimum fixed payments ( assuming non-termination of the above agreements ) as of december 31 , 2007 , for each of the next five years are as follows : years ending december 31 , license agreements clinical and manufacturing development agreements .
|years ending december 31,|license agreements|clinical and manufacturing development agreements|
|2008|$ 707|$ 2860|
|2009|552|3750|
|2010|322|7500|
|2011|300|7500|
|2012|300|7500|
.
Question: what is the percent change in minimum fixed payments of license agreements between 2008 and 2009?
Answer: | -0.21924 |
FINQA3645 | Please answer the given financial question based on the context.
Context: for the estimates of our oil sands mining reserves has 33 years of experience in petroleum engineering and has conducted surface mineable oil sands evaluations since 1986 . he is a member of spe , having served as regional director from 1998 through 2001 and is a registered practicing professional engineer in the province of alberta . audits of estimates third-party consultants are engaged to provide independent estimates for fields that comprise 80 percent of our total proved reserves over a rolling four-year period for the purpose of auditing the in-house reserve estimates . we met this goal for the four-year period ended december 31 , 2011 . we established a tolerance level of 10 percent such that initial estimates by the third-party consultants are accepted if they are within 10 percent of our internal estimates . should the third-party consultants 2019 initial analysis fail to reach our tolerance level , both our team and the consultants re-examine the information provided , request additional data and refine their analysis if appropriate . this resolution process is continued until both estimates are within 10 percent . this process did not result in significant changes to our reserve estimates in 2011 or 2009 . there were no third-party audits performed in 2010 . during 2011 , netherland , sewell & associates , inc . ( 201cnsai 201d ) prepared a certification of december 31 , 2010 reserves for the alba field in equatorial guinea . the nsai summary report is filed as an exhibit to this annual report on form 10-k . the senior members of the nsai team have over 50 years of industry experience between them , having worked for large , international oil and gas companies before joining nsai . the team lead has a master of science in mechanical engineering and is a member of spe . the senior technical advisor has a bachelor of science degree in geophysics and is a member of the society of exploration geophysicists , the american association of petroleum geologists and the european association of geoscientists and engineers . both are licensed in the state of texas . ryder scott company ( 201cryder scott 201d ) performed audits of several of our fields in 2011 and 2009 . their summary report on audits performed in 2011 is filed as an exhibit to this annual report on form 10-k . the team lead for ryder scott has over 20 years of industry experience , having worked for a major international oil and gas company before joining ryder scott . he has a bachelor of science degree in mechanical engineering , is a member of spe and is a registered professional engineer in the state of texas . the corporate reserves group also performs separate , detailed technical reviews of reserve estimates for significant fields that were acquired recently or for properties with other indicators such as excessively short or long lives , performance above or below expectations or changes in economic or operating conditions . changes in proved undeveloped reserves as of december 31 , 2011 , 395 mmboe of proved undeveloped reserves were reported , a decrease of 10 mmboe from december 31 , 2010 . the following table shows changes in total proved undeveloped reserves for 2011: .
|beginning of year|405|
|revisions of previous estimates|15|
|improved recovery|1|
|purchases of reserves in place|91|
|extensions discoveries and other additions|49|
|transfer to proved developed|-166 ( 166 )|
|end of year|395|
significant additions to proved undeveloped reserves during 2011 include 91 mmboe due to acreage acquisition in the eagle ford shale , 26 mmboe related to anadarko woodford shale development , 10 mmboe for development drilling in the bakken shale play and 8 mmboe for additional drilling in norway . additionally , 139 mmboe were transferred from proved undeveloped to proved developed reserves due to startup of the jackpine upgrader expansion in canada . costs incurred in 2011 , 2010 and 2009 relating to the development of proved undeveloped reserves , were $ 1107 million , $ 1463 million and $ 792 million . projects can remain in proved undeveloped reserves for extended periods in certain situations such as behind-pipe zones where reserves will not be accessed until the primary producing zone depletes , large development projects which take more than five years to complete , and the timing of when additional gas compression is needed . of the 395 mmboe of proved undeveloped reserves at year end 2011 , 34 percent of the volume is associated with projects that have been included in proved reserves for more than five years . the majority of this volume is related to a compression project in equatorial guinea that was sanctioned by our board of directors in 2004 and is expected to be completed by 2016 . performance of this field has exceeded expectations , and estimates of initial dry gas in place increased by roughly 10 percent between 2004 and 2010 . production is not expected to experience a natural decline from facility-limited plateau production until 2014 , or possibly 2015 . the timing of the installation of compression is being driven by the reservoir performance. .
Question: what was the total in mmboe of reserves due to revisions of previous estimates and improved recovery?
Answer: | 16.0 |
FINQA3646 | Please answer the given financial question based on the context.
Context: gain on business divestitures and impairments , net we strive to have a number one or number two market position in each of the markets we serve , or have a clear path on how we will achieve a leading market position over time . where we cannot establish a leading market position , or where operations are not generating acceptable returns , we may decide to divest certain assets and reallocate resources to other markets . asset or business divestitures could result in gains , losses or asset impairment charges that may be material to our results of operations in a given period . during 2018 , we recorded a net gain on business divestitures , net of asset impairments of $ 44.9 million . during 2017 , we recorded a net gain on business divestitures , net of asset impairments of $ 27.1 million . we also recorded a gain on business divestitures of $ 6.8 million due to the transfer of ownership of the landfill gas collection and control system and the remaining post-closure and environmental liabilities associated with one of our divested landfills . during 2016 , we recorded a charge to earnings of $ 4.6 million primarily related to environmental costs associated with one of our divested landfills . during 2016 , we also recorded a net gain related to a business divestiture of $ 4.7 million . restructuring charges in january 2018 , we eliminated certain positions following the consolidation of select back-office functions , including but not limited to the integration of our national accounts support functions into our existing corporate support functions . these changes include a reduction in administrative staffing and the closure of certain office locations . during 2018 , we incurred restructuring charges of $ 26.4 million that primarily consisted of severance and other employee termination benefits , the closure of offices with non-cancelable lease agreements , and the redesign of our back-office functions and upgrades to certain of our software systems . we paid $ 24.7 million during 2018 related to these restructuring efforts . in january 2016 , we realigned our field support functions by combining our three regions into two field groups , consolidating our areas and streamlining select operational support roles at our phoenix headquarters . additionally , in the second quarter of 2016 , we began the redesign of our back-office functions as well as the consolidation of over 100 customer service locations into three customer resource centers . the redesign of our back-office functions and upgrades to certain of our software systems continued into 2018 . during the years ended december 31 , 2017 and 2016 , we incurred $ 17.6 million and $ 40.7 million of restructuring charges , respectively , that primarily consisted of severance and other employee termination benefits , transition costs , relocation benefits , and the closure of offices with lease agreements with non-cancelable terms . the savings realized from these restructuring efforts have been reinvested in our customer-focused programs and initiatives . interest expense the following table provides the components of interest expense , including accretion of debt discounts and accretion of discounts primarily associated with environmental and risk insurance liabilities assumed in acquisitions ( in millions of dollars ) : .
||2018|2017|2016|
|interest expense on debt and capital lease obligations|$ 349.4|$ 324.8|$ 324.1|
|non-cash interest|41.2|43.6|53.4|
|less : capitalized interest|-6.8 ( 6.8 )|-6.5 ( 6.5 )|-6.2 ( 6.2 )|
|total interest expense|$ 383.8|$ 361.9|$ 371.3|
total interest expense for 2018 increased compared to 2017 primarily due to the increase in debt outstanding during the period and higher interest rates on floating rate debt . total interest expense for 2017 decreased .
Question: what is the percentage of the restructuring charges paid to those incurred in 2018
Answer: | 0.93561 |
FINQA3647 | 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 percent of notes payable including accrued interest is due in less than one year?
Answer: | 0.15287 |
FINQA3648 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries notes to financial statements this difference as a regulatory asset or liability on an ongoing basis , resulting in a zero net balance for the regulatory asset at the end of the lease term . the amount was a net regulatory liability of $ 61.6 million and $ 27.8 million as of december 31 , 2013 and 2012 , respectively . as of december 31 , 2013 , system energy had future minimum lease payments ( reflecting an implicit rate of 5.13% ( 5.13 % ) ) , which are recorded as long-term debt , as follows : amount ( in thousands ) .
||amount ( in thousands )|
|2014|$ 51637|
|2015|52253|
|2016|13750|
|2017|13750|
|2018|13750|
|years thereafter|247500|
|total|392640|
|less : amount representing interest|295226|
|present value of net minimum lease payments|$ 97414|
.
Question: what portion of the total future minimum lease payments represent the interest for system energy?
Answer: | 0.7519 |
FINQA3649 | Please answer the given financial question based on the context.
Context: reinvested for continued use in foreign operations . if the total undistributed earnings of foreign subsidiaries were remitted , a significant amount of the additional tax would be offset by the allowable foreign tax credits . it is not practical for us to determine the additional tax of remitting these earnings . in september 2007 , we reached a settlement with the united states department of justice to resolve an investigation into financial relationships between major orthopaedic manufacturers and consulting orthopaedic surgeons . under the terms of the settlement , we paid a civil settlement amount of $ 169.5 million and we recorded an expense in that amount . at the time , no tax benefit was recorded related to the settlement expense due to the uncertainty as to the tax treatment . during the third quarter of 2008 , we reached an agreement with the u.s . internal revenue service ( irs ) confirming the deductibility of a portion of the settlement payment . as a result , during 2008 we recorded a current tax benefit of $ 31.7 million . in june 2006 , the financial accounting standards board ( fasb ) issued interpretation no . 48 , accounting for uncertainty in income taxes 2013 an interpretation of fasb statement no . 109 , accounting for income taxes ( fin 48 ) . fin 48 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements . under fin 48 , we may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities , based on the technical merits of the position . the tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement . fin 48 also provides guidance on derecognition , classification , interest and penalties on income taxes , accounting in interim periods and requires increased disclosures . we adopted fin 48 on january 1 , 2007 . prior to the adoption of fin 48 we had a long term tax liability for expected settlement of various federal , state and foreign income tax liabilities that was reflected net of the corollary tax impact of these expected settlements of $ 102.1 million , as well as a separate accrued interest liability of $ 1.7 million . as a result of the adoption of fin 48 , we are required to present the different components of such liability on a gross basis versus the historical net presentation . the adoption resulted in the financial statement liability for unrecognized tax benefits decreasing by $ 6.4 million as of january 1 , 2007 . the adoption resulted in this decrease in the liability as well as a reduction to retained earnings of $ 4.8 million , a reduction in goodwill of $ 61.4 million , the establishment of a tax receivable of $ 58.2 million , which was recorded in other current and non-current assets on our consolidated balance sheet , and an increase in an interest/penalty payable of $ 7.9 million , all as of january 1 , 2007 . therefore , after the adoption of fin 48 , the amount of unrecognized tax benefits is $ 95.7 million as of january 1 , 2007 . as of december 31 , 2008 , the amount of unrecognized tax benefits is $ 129.5 million . of this amount , $ 45.5 million would impact our effective tax rate if recognized . $ 38.2 million of the $ 129.5 million liability for unrecognized tax benefits relate to tax positions of acquired entities taken prior to their acquisition by us . under fas 141 ( r ) , if these liabilities are settled for different amounts , they will affect the income tax expense in the period of reversal or settlement . the following is a tabular reconciliation of the total amounts of unrecognized tax benefits ( in millions ) : .
||2008|2007|
|balance at january 1|$ 135.2|$ 95.7|
|increases related to prior periods|12.1|27.4|
|decreases related to prior periods|-32.0 ( 32.0 )|-5.5 ( 5.5 )|
|increases related to current period|15.8|21.9|
|decreases related to settlements with taxing authorities|-1.3 ( 1.3 )|-1.3 ( 1.3 )|
|decreases related to lapse of statue of limitations|-0.3 ( 0.3 )|-3.0 ( 3.0 )|
|balance at december 31|$ 129.5|$ 135.2|
we recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense in the consolidated statements of earnings , which is consistent with the recognition of these items in prior reporting periods . as of december 31 , 2007 , we recorded a liability of $ 19.6 million for accrued interest and penalties , of which $ 14.7 million would impact our effective tax rate , if recognized . the amount of this liability is $ 22.9 million as of december 31 , 2008 . of this amount , $ 17.1 million would impact our effective tax rate , if recognized . we expect that the amount of tax liability for unrecognized tax benefits will change in the next twelve months ; however , we do not expect these changes will have a significant impact on our results of operations or financial position . the u.s . federal statute of limitations remains open for the year 2003 and onward . the u.s . federal returns for years 2003 and 2004 are currently under examination by the irs . on july 15 , 2008 , the irs issued its examination report . we filed a formal protest on august 15 , 2008 and requested a conference with the appeals office regarding disputed issues . although the appeals process could take several years , we do not anticipate resolution of the audit will result in any significant impact on our results of operations , financial position or cash flows . in addition , for the 1999 tax year of centerpulse , which we acquired in october 2003 , one issue remains in dispute . state income tax returns are generally subject to examination for a period of 3 to 5 years after filing of the respective return . the state impact of any federal changes remains subject to examination by various states for a period of up to one year after formal notification to the states . we have various state income tax returns in the process of examination , administrative appeals or litigation . it is z i m m e r h o l d i n g s , i n c . 2 0 0 8 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) %%transmsg*** transmitting job : c48761 pcn : 057000000 ***%%pcmsg|57 |00010|yes|no|02/24/2009 06:10|0|0|page is valid , no graphics -- color : d| .
Question: what is the percentage change in unrecognized tax benefits between 2007 and 2008?
Answer: | -0.04216 |
FINQA3650 | Please answer the given financial question based on the context.
Context: the segment had operating earnings of $ 709 million in 2007 , compared to operating earnings of $ 787 million in 2006 . the decrease in operating earnings was primarily due to a decrease in gross margin , driven by : ( i ) lower net sales of iden infrastructure equipment , and ( ii ) continued competitive pricing pressure in the market for gsm infrastructure equipment , partially offset by : ( i ) increased net sales of digital entertainment devices , and ( ii ) the reversal of reorganization of business accruals recorded in 2006 relating to employee severance which were no longer needed . sg&a expenses increased primarily due to the expenses from recently acquired businesses , partially offset by savings from cost-reduction initiatives . r&d expenditures decreased primarily due to savings from cost- reduction initiatives , partially offset by expenditures by recently acquired businesses and continued investment in digital entertainment devices and wimax . as a percentage of net sales in 2007 as compared to 2006 , gross margin , sg&a expenses , r&d expenditures and operating margin all decreased . in 2007 , sales to the segment 2019s top five customers represented approximately 43% ( 43 % ) of the segment 2019s net sales . the segment 2019s backlog was $ 2.6 billion at december 31 , 2007 , compared to $ 3.2 billion at december 31 , 2006 . in the home business , demand for the segment 2019s products depends primarily on the level of capital spending by broadband operators for constructing , rebuilding or upgrading their communications systems , and for offering advanced services . during the second quarter of 2007 , the segment began shipping digital set-tops that support the federal communications commission ( 201cfcc 201d ) 2014 mandated separable security requirement . fcc regulations mandating the separation of security functionality from set-tops went into effect on july 1 , 2007 . as a result of these regulations , many cable service providers accelerated their purchases of set-tops in the first half of 2007 . additionally , in 2007 , our digital video customers significantly increased their purchases of the segment 2019s products and services , primarily due to increased demand for digital entertainment devices , particularly hd/dvr devices . during 2007 , the segment completed the acquisitions of : ( i ) netopia , inc. , a broadband equipment provider for dsl customers , which allows for phone , tv and fast internet connections , ( ii ) tut systems , inc. , a leading developer of edge routing and video encoders , ( iii ) modulus video , inc. , a provider of mpeg-4 advanced coding compression systems designed for delivery of high-value video content in ip set-top devices for the digital video , broadcast and satellite marketplaces , ( iv ) terayon communication systems , inc. , a provider of real-time digital video networking applications to cable , satellite and telecommunication service providers worldwide , and ( v ) leapstone systems , inc. , a provider of intelligent multimedia service delivery and content management applications to networks operators . these acquisitions enhance our ability to provide complete end-to-end systems for the delivery of advanced video , voice and data services . in december 2007 , motorola completed the sale of ecc to emerson for $ 346 million in cash . enterprise mobility solutions segment the enterprise mobility solutions segment designs , manufactures , sells , installs and services analog and digital two-way radio , voice and data communications products and systems for private networks , wireless broadband systems and end-to-end enterprise mobility solutions to a wide range of enterprise markets , including government and public safety agencies ( which , together with all sales to distributors of two-way communication products , are referred to as the 201cgovernment and public safety market 201d ) , as well as retail , energy and utilities , transportation , manufacturing , healthcare and other commercial customers ( which , collectively , are referred to as the 201ccommercial enterprise market 201d ) . in 2008 , the segment 2019s net sales represented 27% ( 27 % ) of the company 2019s consolidated net sales , compared to 21% ( 21 % ) in 2007 and 13% ( 13 % ) in 2006 . ( dollars in millions ) 2008 2007 2006 2008 20142007 2007 20142006 years ended december 31 percent change .
|( dollars in millions )|years ended december 31 2008|years ended december 31 2007|years ended december 31 2006|years ended december 31 2008 20142007|2007 20142006|
|segment net sales|$ 8093|$ 7729|$ 5400|5% ( 5 % )|43% ( 43 % )|
|operating earnings|1496|1213|958|23% ( 23 % )|27% ( 27 % )|
segment results 20142008 compared to 2007 in 2008 , the segment 2019s net sales increased 5% ( 5 % ) to $ 8.1 billion , compared to $ 7.7 billion in 2007 . the 5% ( 5 % ) increase in net sales reflects an 8% ( 8 % ) increase in net sales to the government and public safety market , partially offset by a 2% ( 2 % ) decrease in net sales to the commercial enterprise market . the increase in net sales to the government and public safety market was primarily driven by : ( i ) increased net sales outside of north america , and ( ii ) the net sales generated by vertex standard co. , ltd. , a business the company acquired a controlling interest of in january 2008 , partially offset by lower net sales in north america . on a geographic basis , the segment 2019s net sales were higher in emea , asia and latin america and lower in north america . 65management 2019s discussion and analysis of financial condition and results of operations %%transmsg*** transmitting job : c49054 pcn : 068000000 ***%%pcmsg|65 |00024|yes|no|02/24/2009 12:31|0|0|page is valid , no graphics -- color : n| .
Question: what was the percentage reduction in the segment 2019s backlog from 2006 to 2007
Answer: | -0.1875 |
FINQA3651 | Please answer the given financial question based on the context.
Context: local consumer lending local consumer lending ( lcl ) , which constituted approximately 65% ( 65 % ) of citi holdings by assets as of december 31 , 2009 , includes a portion of citigroup 2019s north american mortgage business , retail partner cards , western european cards and retail banking , citifinancial north america , primerica , student loan corporation and other local consumer finance businesses globally . at december 31 , 2009 , lcl had $ 358 billion of assets ( $ 317 billion in north america ) . about one-half of the assets in lcl as of december 31 , 2009 consisted of u.s . mortgages in the company 2019s citimortgage and citifinancial operations . the north american assets consist of residential mortgage loans , retail partner card loans , student loans , personal loans , auto loans , commercial real estate , and other consumer loans and assets . in millions of dollars 2009 2008 2007 % ( % ) change 2009 vs . 2008 % ( % ) change 2008 vs . 2007 .
|in millions of dollars|2009|2008|2007|% ( % ) change 2009 vs . 2008|% ( % ) change 2008 vs . 2007|
|net interest revenue|$ 13709|$ 17903|$ 18166|( 23 ) % ( % )|( 1 ) % ( % )|
|non-interest revenue|5473|6550|8584|-16 ( 16 )|-24 ( 24 )|
|total revenues net of interest expense|$ 19182|$ 24453|$ 26750|( 22 ) % ( % )|( 9 ) % ( % )|
|total operating expenses|$ 10431|$ 14973|$ 11457|( 30 ) % ( % )|31% ( 31 % )|
|net credit losses|$ 19237|$ 13151|$ 6794|46% ( 46 % )|94% ( 94 % )|
|credit reserve build/ ( release )|5904|8592|5454|-31 ( 31 )|58|
|provision for benefits and claims|1055|1191|765|-11 ( 11 )|56|
|provision for unfunded lending commitments|3|2014|2014|2014|2014|
|provisions for loan losses and for benefits and claims|$ 26199|$ 22934|$ 13013|14% ( 14 % )|76% ( 76 % )|
|income ( loss ) from continuing operations before taxes|$ -17448 ( 17448 )|$ -13454 ( 13454 )|$ 2280|( 30 ) % ( % )|nm|
|income taxes ( benefits )|-7405 ( 7405 )|-5200 ( 5200 )|568|-42 ( 42 )|nm|
|income ( loss ) from continuing operations|$ -10043 ( 10043 )|$ -8254 ( 8254 )|$ 1712|( 22 ) % ( % )|nm|
|net income attributable to noncontrolling interests|32|12|34|nm|( 65 ) % ( % )|
|net income ( loss )|$ -10075 ( 10075 )|$ -8266 ( 8266 )|$ 1678|( 22 ) % ( % )|nm|
|average assets ( in billions of dollars )|$ 390|$ 461|$ 496|-15 ( 15 )|( 7 ) % ( % )|
|net credit losses as a percentage of average loans|5.91% ( 5.91 % )|3.56% ( 3.56 % )|1.90% ( 1.90 % )|||
nm not meaningful 2009 vs . 2008 revenues , net of interest expense decreased 22% ( 22 % ) versus the prior year , mostly due to lower net interest revenue . net interest revenue was 23% ( 23 % ) lower than the prior year , primarily due to lower balances , de-risking of the portfolio , and spread compression . net interest revenue as a percentage of average loans decreased 63 basis points from the prior year , primarily due to the impact of higher delinquencies , interest write-offs , loan modification programs , higher fdic charges and card act implementation ( in the latter part of 2009 ) , partially offset by retail partner cards pricing actions . lcl results will continue to be impacted by the card act . citi currently estimates that the net impact on lcl revenues for 2010 could be a reduction of approximately $ 50 to $ 150 million . see also 201cnorth america regional consumer banking 201d and 201cmanaging global risk 2014credit risk 201d for additional information on the impact of the card act to citi 2019s credit card businesses . average loans decreased 12% ( 12 % ) , with north america down 11% ( 11 % ) and international down 19% ( 19 % ) . non-interest revenue decreased $ 1.1 billion mostly driven by the impact of higher credit losses flowing through the securitization trusts . operating expenses declined 30% ( 30 % ) from the prior year , due to lower volumes and reductions from expense re-engineering actions , and the impact of goodwill write-offs of $ 3.0 billion in the fourth quarter of 2008 , partially offset by higher other real estate owned and collection costs . provisions for loan losses and for benefits and claims increased 14% ( 14 % ) versus the prior year reflecting an increase in net credit losses of $ 6.1 billion , partially offset by lower reserve builds of $ 2.7 billion . higher net credit losses were primarily driven by higher losses of $ 3.6 billion in residential real estate lending , $ 1.0 billion in retail partner cards , and $ 0.7 billion in international . assets decreased $ 58 billion versus the prior year , primarily driven by lower originations , wind-down of specific businesses , asset sales , divestitures , write-offs and higher loan loss reserve balances . key divestitures in 2009 included the fi credit card business , italy consumer finance , diners europe , portugal cards , norway consumer , and diners club north america . 2008 vs . 2007 revenues , net of interest expense decreased 9% ( 9 % ) versus the prior year , mostly due to lower non-interest revenue . net interest revenue declined 1% ( 1 % ) versus the prior year . average loans increased 3% ( 3 % ) ; however , revenues declined , driven by lower balances , de-risking of the portfolio , and spread compression . non-interest revenue decreased $ 2 billion , primarily due to the impact of securitization in retail partners cards and the mark-to-market on the mortgage servicing rights asset and related hedge in real estate lending . operating expenses increased 31% ( 31 % ) , driven by the impact of goodwill write-offs of $ 3.0 billion in the fourth quarter of 2008 and restructuring costs . excluding one-time expenses , expenses were slightly higher due to increased volumes. .
Question: what percent of total revenues net of interest expense was non-interest revenue in 2008?
Answer: | 0.26786 |
FINQA3652 | Please answer the given financial question based on the context.
Context: 97% ( 97 % ) of its carrying value . the columbia fund is being liquidated with distributions to us occurring and expected to be fully liquidated during calendar 2008 . since december 2007 , we have received disbursements of approximately $ 20.7 million from the columbia fund . our operating activities during the year ended march 31 , 2008 used cash of $ 28.9 million as compared to $ 19.8 million during the same period in the prior year . our fiscal 2008 net loss of $ 40.9 million was the primary cause of our cash use from operations , attributed to increased investments in our global distribution as we continue to drive initiatives to increase recovery awareness as well as our investments in research and development to broaden our circulatory care product portfolio . in addition , our inventories used cash of $ 11.1 million during fiscal 2008 , reflecting our inventory build-up to support anticipated increases in global demand for our products and our accounts receivable also increased as a result of higher sales volume resulting in a use of cash of $ 2.8 million in fiscal 2008 . these decreases in cash were partially offset by an increase in accounts payable and accrued expenses of $ 5.6 million , non-cash adjustments of $ 5.4 million related to stock-based compensation expense , $ 6.1 million of depreciation and amortization and $ 5.0 million for the change in fair value of worldheart note receivable and warrant . our investing activities during the year ended march 31 , 2008 used cash of $ 40.9 million as compared to cash provided by investing activities of $ 15.1 million during the year ended march 31 , 2007 . cash used by investment activities for fiscal 2008 consisted primarily of $ 49.3 million for the recharacterization of the columbia fund to short-term marketable securities , $ 17.1 million for the purchase of short-term marketable securities , $ 3.8 million related to expenditures for property and equipment and $ 5.0 million for note receivable advanced to worldheart . these amounts were offset by $ 34.5 million of proceeds from short-term marketable securities . in june 2008 , we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments in accordance with the may 2005 acquisition of impella . these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement . it is our intent to satisfy this contingent payment through the issuance of shares of our common stock . our financing activities during the year ended march 31 , 2008 provided cash of $ 2.1 million as compared to cash provided by financing activities of $ 66.6 million during the same period in the prior year . cash provided by financing activities for fiscal 2008 is comprised primarily of $ 2.8 million attributable to the exercise of stock options , $ 0.9 million related to the proceeds from the issuance of common stock , $ 0.3 million related to proceeds from the employee stock purchase plan , partially offset by $ 1.9 million related to the repurchase of warrants . the $ 64.5 million decrease compared to the prior year is primarily due to $ 63.6 million raised from the public offering in fiscal 2007 . we disbursed approximately $ 2.2 million of cash for the warrant repurchase and settlement of certain litigation . capital expenditures for fiscal 2009 are estimated to be approximately $ 3.0 to $ 6.0 million . contractual obligations and commercial commitments the following table summarizes our contractual obligations at march 31 , 2008 and the effects such obligations are expected to have on our liquidity and cash flows in future periods . payments due by fiscal year ( in $ 000 2019s ) contractual obligations total than 1 than 5 .
|contractual obligations|payments due by fiscal year ( in $ 000 2019s ) total|payments due by fiscal year ( in $ 000 2019s ) less than 1 year|payments due by fiscal year ( in $ 000 2019s ) 1-3 years|payments due by fiscal year ( in $ 000 2019s ) 3-5 years|payments due by fiscal year ( in $ 000 2019s ) more than 5 years|
|operating lease commitments|$ 7754|$ 2544|$ 3507|$ 1703|$ 2014|
|contractual obligations|9309|7473|1836|2014|2014|
|total obligations|$ 17063|$ 10017|$ 5343|$ 1703|$ 2014|
we have no long-term debt , capital leases or other material commitments , for open purchase orders and clinical trial agreements at march 31 , 2008 other than those shown in the table above . in may 2005 , we acquired all the shares of outstanding capital stock of impella cardiosystems ag , a company headquartered in aachen , germany . the aggregate purchase price excluding a contingent payment in the amount of $ 5.6 million made on january 30 , 2007 in the form of common stock , was approximately $ 45.1 million , which consisted of $ 42.2 million of our common stock , $ 1.6 million of cash paid to certain former shareholders of impella and $ 1.3 million of transaction costs , consisting primarily of fees paid for financial advisory and legal services . we may make additional contingent payments to impella 2019s former shareholders based on additional milestone payments related to fda approvals in the amount of up to $ 11.2 million . in june 2008 we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments . these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement , except that approximately $ 1.8 million of these contingent payments must be made in cash . the payment of any contingent payments will result in an increase to the carrying value of goodwill . we apply the disclosure provisions of fin no . 45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no . 5 , 57 and 107 and rescission of fasb interpretation .
Question: what would be the total purchase price of impella cardiosystems assuming all contingent consideration is earned , in millions?
Answer: | 56.3 |
FINQA3653 | Please answer the given financial question based on the context.
Context: ( i ) intellectual property the company capitalizes as intellectual property costs incurred , excluding costs associated with company personnel , relating to patenting its technology . capitalized costs , the majority of which represent legal costs , reflect the cost of both awarded patents and patents pending . the company amortizes the cost of these patents on a straight-line basis over a period of seven years . if the company elects to stop pursuing a particular patent application or determines that a patent application is not likely to be awarded for a particular patent or elects to discontinue payment of required maintenance fees for a particular patent , the company at that time records as expense the net capitalized amount of such patent application or patent . the company does not capitalize maintenance fees for patents . ( j ) net loss per share basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the fiscal year . diluted net loss per share is computed by dividing net loss by the weighted-average number of dilutive common shares outstanding during the fiscal year . diluted weighted-average shares reflect the dilutive effect , if any , of potential common stock such as options and warrants based on the treasury stock method . no potential common stock is considered dilutive in periods in which a loss is reported , such as the fiscal years ended march 31 , 2001 , 2002 and 2003 , because all such common equivalent shares would be antidilutive . the calculation of diluted weighted-average shares outstanding for the years ended march 31 , 2001 , 2002 and 2003 excludes the options to purchase common stock as shown below . potential dilutive shares year ended march 31 , from exercise of common stock options .
|year ended march 31,|potential dilutive shares from exercise of common stock options|
|2001|1808322|
|2002|1420831|
|2003|58343|
the calculation of diluted weighted-average shares outstanding excludes unissued shares of common stock associated with outstanding stock options that have exercise prices greater than the average market price of abiomed common stock during the period . for the fiscal years ending march 31 , 2001 , 2002 and 2003 , the weighted-average number of these potential shares totaled 61661 , 341495 and 2463715 shares , respectively . the calculation of diluted weighted-average shares outstanding for the years ended march 31 , 2001 , 2002 and 2003 also excludes warrants to purchase 400000 shares of common stock issued in connection with the acquisition of intellectual property ( see note 4 ) . ( k ) cash and cash equivalents the company classifies any marketable security with a maturity date of 90 days or less at the time of purchase as a cash equivalent . ( l ) marketable securities the company classifies any security with a maturity date of greater than 90 days at the time of purchase as marketable securities and classifies marketable securities with a maturity date of greater than one year from the balance sheet date as long-term investments . under statement of financial accounting standards ( sfas ) no . 115 , accounting for certain investments in debt and equity securities , securities that the company has the positive intent and ability to hold to maturity are reported at amortized cost and classified as held-to-maturity securities . the amortized cost and market value of marketable securities were approximately $ 25654000 and $ 25661000 at march 31 , 2002 , and $ 9877000 and $ 9858000 at march 31 , 2003 , respectively . at march 31 , 2003 , these short-term investments consisted primarily of government securities . ( m ) disclosures about fair value of financial instruments as of march 31 , 2002 and 2003 , the company 2019s financial instruments were comprised of cash and cash equivalents , marketable securities , accounts receivable and accounts payable , the carrying amounts of which approximated fair market value . ( n ) comprehensive income sfas no . 130 , reporting comprehensive income , requires disclosure of all components of comprehensive income and loss on an annual and interim basis . comprehensive income and loss is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources . other than the reported net loss , there were no components of comprehensive income or loss which require disclosure for the years ended march 31 , 2001 , 2002 and 2003 . notes to consolidated financial statements ( continued ) march 31 , 2003 page 20 .
Question: what was the decrease in potential dilutive shares from 2002 to 2003 ?
Answer: | 1362488.0 |
FINQA3654 | Please answer the given financial question based on the context.
Context: item 2 . properties a summary of our significant locations at december 31 , 2011 is shown in the following table . all facilities are leased , except for 165000 square feet of our office in alpharetta , georgia . square footage amounts are net of space that has been sublet or part of a facility restructuring. .
|location|approximate square footage|
|alpharetta georgia|260000|
|arlington virginia|119000|
|jersey city new jersey|107000|
|menlo park california|91000|
|sandy utah|66000|
|new york new york|39000|
|chicago illinois|25000|
all of our facilities are used by either our trading and investing or balance sheet management segments , in addition to the corporate/other category . all other leased facilities with space of less than 25000 square feet are not listed by location . in addition to the significant facilities above , we also lease all 28 e*trade branches , ranging in space from approximately 2500 to 7000 square feet . we believe our facilities space is adequate to meet our needs in 2012 . item 3 . legal proceedings on october 27 , 2000 , ajaxo , inc . ( 201cajaxo 201d ) filed a complaint in the superior court for the state of california , county of santa clara . ajaxo sought damages and certain non-monetary relief for the company 2019s alleged breach of a non-disclosure agreement with ajaxo pertaining to certain wireless technology that ajaxo offered the company as well as damages and other relief against the company for their alleged misappropriation of ajaxo 2019s trade secrets . following a jury trial , a judgment was entered in 2003 in favor of ajaxo against the company for $ 1.3 million for breach of the ajaxo non-disclosure agreement . although the jury found in favor of ajaxo on its claim against the company for misappropriation of trade secrets , the trial court subsequently denied ajaxo 2019s requests for additional damages and relief . on december 21 , 2005 , the california court of appeal affirmed the above-described award against the company for breach of the nondisclosure agreement but remanded the case to the trial court for the limited purpose of determining what , if any , additional damages ajaxo may be entitled to as a result of the jury 2019s previous finding in favor of ajaxo on its claim against the company for misappropriation of trade secrets . although the company paid ajaxo the full amount due on the above-described judgment , the case was remanded back to the trial court , and on may 30 , 2008 , a jury returned a verdict in favor of the company denying all claims raised and demands for damages against the company . following the trial court 2019s filing of entry of judgment in favor of the company on september 5 , 2008 , ajaxo filed post-trial motions for vacating this entry of judgment and requesting a new trial . by order dated november 4 , 2008 , the trial court denied these motions . on december 2 , 2008 , ajaxo filed a notice of appeal with the court of appeal of the state of california for the sixth district . oral argument on the appeal was heard on july 15 , 2010 . on august 30 , 2010 , the court of appeal affirmed the trial court 2019s verdict in part and reversed the verdict in part , remanding the case . e*trade petitioned the supreme court of california for review of the court of appeal decision . on december 16 , 2010 , the california supreme court denied the company 2019s petition for review and remanded for further proceedings to the trial court . on september 20 , 2011 , the trial court granted limited discovery at a conference on november 4 , 2011 , and set a motion schedule and trial date . the trial will continue on may 14 , 2012 . the company will continue to defend itself vigorously . on october 2 , 2007 , a class action complaint alleging violations of the federal securities laws was filed in the united states district court for the southern district of new york against the company and its then .
Question: as of december 31 , 2011 what was the percent of space not leased space in alpharetta , georgia .
Answer: | 0.63462 |
FINQA3655 | Please answer the given financial question based on the context.
Context: the railroad collected approximately $ 18.8 billion and $ 16.3 billion of receivables during the years ended december 31 , 2011 and 2010 , respectively . upri used certain of these proceeds to purchase new receivables under the facility . the costs of the receivables securitization facility include interest , which will vary based on prevailing commercial paper rates , program fees paid to banks , commercial paper issuing costs , and fees for unused commitment availability . the costs of the receivables securitization facility are included in interest expense and were $ 4 million and $ 6 million for 2011 and 2010 , respectively . prior to adoption of the new accounting standard , the costs of the receivables securitization facility were included in other income and were $ 9 million for 2009 . the investors have no recourse to the railroad 2019s other assets , except for customary warranty and indemnity claims . creditors of the railroad do not have recourse to the assets of upri . in august 2011 , the receivables securitization facility was renewed for an additional 364-day period at comparable terms and conditions . contractual obligations and commercial commitments as described in the notes to the consolidated financial statements and as referenced in the tables below , we have contractual obligations and commercial commitments that may affect our financial condition . based on our assessment of the underlying provisions and circumstances of our contractual obligations and commercial commitments , including material sources of off-balance sheet and structured finance arrangements , other than the risks that we and other similarly situated companies face with respect to the condition of the capital markets ( as described in item 1a of part ii of this report ) , there is no known trend , demand , commitment , event , or uncertainty that is reasonably likely to occur that would have a material adverse effect on our consolidated results of operations , financial condition , or liquidity . in addition , our commercial obligations , financings , and commitments are customary transactions that are similar to those of other comparable corporations , particularly within the transportation industry . the following tables identify material obligations and commitments as of december 31 , 2011 : payments due by december 31 , contractual obligations after millions total 2012 2013 2014 2015 2016 2016 other .
|contractual obligationsmillions|total|payments due by december 31 2012|payments due by december 31 2013|payments due by december 31 2014|payments due by december 31 2015|payments due by december 31 2016|payments due by december 31 after 2016|payments due by december 31 other|
|debt [a]|$ 12516|$ 538|$ 852|$ 887|$ 615|$ 652|$ 8972|$ -|
|operating leases [b]|4528|525|489|415|372|347|2380|-|
|capital lease obligations [c]|2559|297|269|276|276|262|1179|-|
|purchase obligations [d]|5137|2598|568|560|276|245|858|32|
|other post retirement benefits [e]|249|26|26|26|26|26|119|-|
|income tax contingencies [f]|107|31|-|-|-|-|-|76|
|total contractualobligations|$ 25096|$ 4015|$ 2204|$ 2164|$ 1565|$ 1532|$ 13508|$ 108|
[a] excludes capital lease obligations of $ 1874 million and unamortized discount of $ 364 million . includes an interest component of $ 5120 million . [b] includes leases for locomotives , freight cars , other equipment , and real estate . [c] represents total obligations , including interest component of $ 685 million . [d] purchase obligations include locomotive maintenance contracts ; purchase commitments for fuel purchases , locomotives , ties , ballast , and rail ; and agreements to purchase other goods and services . for amounts where we cannot reasonably estimate the year of settlement , they are reflected in the other column . [e] includes estimated other post retirement , medical , and life insurance payments and payments made under the unfunded pension plan for the next ten years . no amounts are included for funded pension obligations as no contributions are currently required . [f] future cash flows for income tax contingencies reflect the recorded liability for unrecognized tax benefits , including interest and penalties , as of december 31 , 2011 . where we can reasonably estimate the years in which these liabilities may be settled , this is shown in the table . for amounts where we cannot reasonably estimate the year of settlement , they are reflected in the other column. .
Question: assuming a 120 day inventory turn , how of the receivables balance at december 31 , 2010 , was collected in q1 2011 in billions?
Answer: | 5.43333 |
FINQA3656 | Please answer the given financial question based on the context.
Context: ( 1 ) includes shares repurchased through our publicly announced share repurchase program and shares tendered to pay the exercise price and tax withholding on employee stock options . shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the securities and exchange commission , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing . the following graph shows a five-year comparison of cumulative total shareowners 2019 returns for our class b common stock , the s&p 500 index , and the dow jones transportation average . the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2004 in the s&p 500 index , the dow jones transportation average , and our class b common stock . comparison of five year cumulative total return $ 40.00 $ 60.00 $ 80.00 $ 100.00 $ 120.00 $ 140.00 $ 160.00 2004 20092008200720062005 s&p 500 ups dj transport .
||12/31/04|12/31/05|12/31/06|12/31/07|12/31/08|12/31/09|
|united parcel service inc .|$ 100.00|$ 89.49|$ 91.06|$ 87.88|$ 70.48|$ 75.95|
|s&p 500 index|$ 100.00|$ 104.91|$ 121.48|$ 128.15|$ 80.74|$ 102.11|
|dow jones transportation average|$ 100.00|$ 111.65|$ 122.61|$ 124.35|$ 97.72|$ 115.88|
.
Question: what was the percentage cumulative return on investment for united parcel service inc . for the five year period ended 12/31/09?
Answer: | -0.2405 |
FINQA3657 | Please answer the given financial question based on the context.
Context: mastercard incorporated notes to consolidated financial statements 2014continued the municipal bond portfolio is comprised of tax exempt bonds and is diversified across states and sectors . the portfolio has an average credit quality of double-a . the short-term bond funds invest in fixed income securities , including corporate bonds , mortgage-backed securities and asset-backed securities . the company holds investments in ars . interest on these securities is exempt from u.s . federal income tax and the interest rate on the securities typically resets every 35 days . the securities are fully collateralized by student loans with guarantees , ranging from approximately 95% ( 95 % ) to 98% ( 98 % ) of principal and interest , by the u.s . government via the department of education . beginning on february 11 , 2008 , the auction mechanism that normally provided liquidity to the ars investments began to fail . since mid-february 2008 , all investment positions in the company 2019s ars investment portfolio have experienced failed auctions . the securities for which auctions have failed have continued to pay interest in accordance with the contractual terms of such instruments and will continue to accrue interest and be auctioned at each respective reset date until the auction succeeds , the issuer redeems the securities or they mature . during 2008 , ars were reclassified as level 3 from level 2 . as of december 31 , 2010 , the ars market remained illiquid , but issuer call and redemption activity in the ars student loan sector has occurred periodically since the auctions began to fail . during 2010 and 2009 , the company did not sell any ars in the auction market , but there were calls at par . the table below includes a roll-forward of the company 2019s ars investments from january 1 , 2009 to december 31 , 2010 . significant unobservable inputs ( level 3 ) ( in millions ) .
||significant unobservable inputs ( level 3 ) ( in millions )|
|fair value december 31 2008|$ 192|
|calls at par|-28 ( 28 )|
|recovery of unrealized losses due to issuer calls|5|
|increase in fair value|11|
|fair value december 31 2009|180|
|calls at par|-94 ( 94 )|
|recovery of unrealized losses due to issuer calls|13|
|increase in fair value|7|
|fair value december 31 2010|$ 106|
the company evaluated the estimated impairment of its ars portfolio to determine if it was other-than- temporary . the company considered several factors including , but not limited to , the following : ( 1 ) the reasons for the decline in value ( changes in interest rates , credit event , or market fluctuations ) ; ( 2 ) assessments as to whether it is more likely than not that it will hold and not be required to sell the investments for a sufficient period of time to allow for recovery of the cost basis ; ( 3 ) whether the decline is substantial ; and ( 4 ) the historical and anticipated duration of the events causing the decline in value . the evaluation for other-than-temporary impairments is a quantitative and qualitative process , which is subject to various risks and uncertainties . the risks and uncertainties include changes in credit quality , market liquidity , timing and amounts of issuer calls and interest rates . as of december 31 , 2010 , the company believed that the unrealized losses on the ars were not related to credit quality but rather due to the lack of liquidity in the market . the company believes that it is more .
Question: what is the percentual decrease observed in the fair value of ars investments between 2009 and 2008?
Answer: | -0.0625 |
FINQA3658 | Please answer the given financial question based on the context.
Context: 6 . restricted cash sysco is required by its insurers to collateralize a part of the self-insured portion of its workers 2019 compensation and liability claims . sysco has chosen to satisfy these collateral requirements by depositing funds in insurance trusts or by issuing letters of credit . in addition , for certain acquisitions , sysco has placed funds into escrow to be disbursed to the sellers in the event that specified operating results are attained or contingencies are resolved . escrowed funds related to certain acquisitions in the amount of $ 1700000 were released during fiscal 2006 , which included $ 800000 that was disbursed to sellers . a summary of restricted cash balances appears below: .
||july 1 2006|july 2 2005|
|funds deposited in insurance trusts|$ 82653000|$ 80410000|
|escrow funds related to acquisitions|19621000|21321000|
|total|$ 102274000|$ 101731000|
funds deposited in insurance trusts************************************** $ 82653000 $ 80410000 escrow funds related to acquisitions ************************************* 19621000 21321000 total************************************************************* $ 102274000 $ 101731000 7 . derivative financial instruments sysco manages its debt portfolio by targeting an overall desired position of fixed and floating rates and may employ interest rate swaps from time to time to achieve this goal . the company does not use derivative financial instruments for trading or speculative purposes . during fiscal years 2003 , 2004 and 2005 , the company entered into various interest rate swap agreements designated as fair value hedges of the related debt . the terms of these swap agreements and the hedged items were such that the hedges were considered perfectly effective against changes in the fair value of the debt due to changes in the benchmark interest rates over their terms . as a result , the shortcut method provided by sfas no . 133 , 2018 2018accounting for derivative instruments and hedging activities , 2019 2019 was applied and there was no need to periodically reassess the effectiveness of the hedges during the terms of the swaps . interest expense on the debt was adjusted to include payments made or received under the hedge agreements . the fair value of the swaps was carried as an asset or a liability on the consolidated balance sheet and the carrying value of the hedged debt was adjusted accordingly . there were no fair value hedges outstanding as of july 1 , 2006 or july 2 , 2005 . the amount received upon termination of fair value hedge swap agreements was $ 5316000 and $ 1305000 in fiscal years 2005 and 2004 , respectively . there were no terminations of fair value hedge swap agreements in fiscal 2006 . the amount received upon termination of swap agreements is reflected as an increase in the carrying value of the related debt to reflect its fair value at termination . this increase in the carrying value of the debt is amortized as a reduction of interest expense over the remaining term of the debt . in march 2005 , sysco entered into a forward-starting interest rate swap with a notional amount of $ 350000000 . in accordance with sfas no . 133 , the company designated this derivative as a cash flow hedge of the variability in the cash outflows of interest payments on $ 350000000 of the september 2005 forecasted debt issuance due to changes in the benchmark interest rate . the fair value of the swap as of july 2 , 2005 was ( $ 32584000 ) , which is reflected in accrued expenses on the consolidated balance sheet , with the corresponding amount reflected as a loss , net of tax , in other comprehensive income ( loss ) . in september 2005 , in conjunction with the issuance of the 5.375% ( 5.375 % ) senior notes , sysco settled the $ 350000000 notional amount forward-starting interest rate swap . upon settlement , sysco paid cash of $ 21196000 , which represented the fair value of the swap agreement at the time of settlement . this amount is being amortized as interest expense over the 30-year term of the debt , and the unamortized balance is reflected as a loss , net of tax , in other comprehensive income ( loss ) . in the normal course of business , sysco enters into forward purchase agreements for the procurement of fuel , electricity and product commodities related to sysco 2019s business . certain of these agreements meet the definition of a derivative and qualify for the normal purchase and sale exemption under relevant accounting literature . the company has elected to use this exemption for these agreements and thus they are not recorded at fair value . %%transmsg*** transmitting job : h39408 pcn : 046000000 *** %%pcmsg|44 |00010|yes|no|09/06/2006 17:22|0|1|page is valid , no graphics -- color : n| .
Question: what percentage of restricted cash as of july 2 , 2005 was in funds deposited in insurance trusts?
Answer: | 0.79042 |
FINQA3659 | Please answer the given financial question based on the context.
Context: cost amount could have a material adverse effect on our business . these changes may include , for example , an increase or reduction in the number of persons enrolled or eligible to enroll due to the federal government 2019s decision to increase or decrease u.s . military presence around the world . in the event government reimbursements were to decline from projected amounts , our failure to reduce the health care costs associated with these programs could have a material adverse effect on our business . during 2004 , we completed a contractual transition of our tricare business . on july 1 , 2004 , our regions 2 and 5 contract servicing approximately 1.1 million tricare members became part of the new north region , which was awarded to another contractor . on august 1 , 2004 , our regions 3 and 4 contract became part of our new south region contract . on november 1 , 2004 , the region 6 contract with approximately 1 million members became part of the south region contract . the members added with the region 6 contract essentially offset the members lost four months earlier with the expiration of our regions 2 and 5 contract . for the year ended december 31 , 2005 , tricare premium revenues were approximately $ 2.4 billion , or 16.9% ( 16.9 % ) of our total premiums and aso fees . part of the tricare transition during 2004 included the carve out of the tricare senior pharmacy and tricare for life program which we previously administered on as aso basis . on june 1 , 2004 and august 1 , 2004 , administrative services under these programs were transferred to another contractor . for the year ended december 31 , 2005 , tricare administrative services fees totaled $ 50.1 million , or 0.4% ( 0.4 % ) of our total premiums and aso fees . our products marketed to commercial segment employers and members consumer-choice products over the last several years , we have developed and offered various commercial products designed to provide options and choices to employers that are annually facing substantial premium increases driven by double-digit medical cost inflation . these consumer-choice products , which can be offered on either a fully insured or aso basis , provided coverage to approximately 371100 members at december 31 , 2005 , representing approximately 11.7% ( 11.7 % ) of our total commercial medical membership as detailed below . consumer-choice membership other commercial membership commercial medical membership .
||consumer-choice membership|other commercial membership|commercial medical membership|
|fully insured|184000|1815800|1999800|
|administrative services only|187100|983900|1171000|
|total commercial medical|371100|2799700|3170800|
these products are often offered to employer groups as 201cbundles 201d , where the subscribers are offered various hmo and ppo options , with various employer contribution strategies as determined by the employer . paramount to our consumer-choice product strategy , we have developed a group of innovative consumer products , styled as 201csmart 201d products , that we believe will be a long-term solution for employers . we believe this new generation of products provides more ( 1 ) choices for the individual consumer , ( 2 ) transparency of provider costs , and ( 3 ) benefit designs that engage consumers in the costs and effectiveness of health care choices . innovative tools and technology are available to assist consumers with these decisions , including the trade-offs between higher premiums and point-of-service costs at the time consumers choose their plans , and to suggest ways in which the consumers can maximize their individual benefits at the point they use their plans . we believe that when consumers can make informed choices about the cost and effectiveness of their health care , a sustainable long term solution for employers can be realized . smart products , which accounted for approximately 65.1% ( 65.1 % ) of enrollment in all of our consumer-choice plans as of december 31 , 2005 , only are sold to employers who use humana as their sole health insurance carrier. .
Question: as of december 31 2005 what was the approximate number of total commercial medical membership
Answer: | 3171794.87179 |
FINQA3660 | Please answer the given financial question based on the context.
Context: the containerboard group ( a division of tenneco packaging inc. ) notes to combined financial statements ( continued ) april 11 , 1999 14 . leases ( continued ) to the sale transaction on april 12 , 1999 . therefore , the remaining outstanding aggregate minimum rental commitments under noncancelable operating leases are as follows : ( in thousands ) .
|remainder of 1999|$ 7606|
|2000|7583|
|2001|4891|
|2002|3054|
|2003|1415|
|thereafter|1178|
|total|$ 25727|
15 . sale of assets in the second quarter of 1996 , packaging entered into an agreement to form a joint venture with caraustar industries whereby packaging sold its two recycled paperboard mills and a fiber recycling operation and brokerage business to the joint venture in return for cash and a 20% ( 20 % ) equity interest in the joint venture . proceeds from the sale were approximately $ 115 million and the group recognized a $ 50 million pretax gain ( $ 30 million after taxes ) in the second quarter of 1996 . in june , 1998 , packaging sold its remaining 20% ( 20 % ) equity interest in the joint venture to caraustar industries for cash and a note of $ 26000000 . the group recognized a $ 15 million pretax gain on this transaction . at april 11 , 1999 , the balance of the note with accrued interest is $ 27122000 . the note was paid in june , 1999 . 16 . subsequent events on august 25 , 1999 , pca and packaging agreed that the acquisition consideration should be reduced as a result of a postclosing price adjustment by an amount equal to $ 20 million plus interest through the date of payment by packaging . the group recorded $ 11.9 million of this amount as part of the impairment charge on the accompanying financial statements , representing the amount that was previously estimated by packaging . pca intends to record the remaining amount in september , 1999 . in august , 1999 , pca signed purchase and sales agreements with various buyers to sell approximately 405000 acres of timberland . pca has completed the sale of approximately 260000 of these acres and expects to complete the sale of the remaining acres by mid-november , 1999. .
Question: what was the total in thousands in minimum rental payments in 2000 and 2001?
Answer: | 12474.0 |
FINQA3661 | Please answer the given financial question based on the context.
Context: table of contents the following discussion of nonoperating income and expense excludes the results of the merger in order to provide a more meaningful year-over-year comparison . interest expense , net of capitalized interest decreased $ 249 million in 2014 from 2013 primarily due to a $ 149 million decrease in special charges recognized year-over-year as further described below , as well as refinancing activities that resulted in $ 100 million less interest expense recognized in 2014 . ( 1 ) in 2014 , we recognized $ 33 million of special charges relating to non-cash interest accretion on bankruptcy settlement obligations . in 2013 , we recognized $ 138 million of special charges relating to post-petition interest expense on unsecured obligations pursuant to the plan and penalty interest related to american 2019s 10.5% ( 10.5 % ) secured notes and 7.50% ( 7.50 % ) senior secured notes . in addition , in 2013 we recorded special charges of $ 44 million for debt extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness , including cash interest charges and non-cash write offs of unamortized debt issuance costs . ( 2 ) as a result of the 2013 refinancing activities and the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes in 2014 , we recognized $ 100 million less interest expense in 2014 as compared to 2013 . other nonoperating expense , net in 2014 consisted of $ 114 million of net foreign currency losses , including a $ 43 million special charge for venezuelan foreign currency losses , and $ 56 million in other nonoperating special charges primarily due to early debt extinguishment costs related to the prepayment of our 7.50% ( 7.50 % ) senior secured notes and other indebtedness . the foreign currency losses were driven primarily by the strengthening of the u.s . dollar relative to other currencies during 2014 , principally in the latin american market , including a 48% ( 48 % ) decrease in the value of the venezuelan bolivar and a 14% ( 14 % ) decrease in the value of the brazilian real . other nonoperating expense , net in 2013 consisted principally of net foreign currency losses of $ 56 million and early debt extinguishment charges of $ 29 million . reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases . the following table summarizes the components included in reorganization items , net on aag 2019s consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : .
||2013|
|labor-related deemed claim ( 1 )|$ 1733|
|aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )|325|
|fair value of conversion discount ( 4 )|218|
|professional fees|199|
|other|180|
|total reorganization items net|$ 2655|
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , we agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees . each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes . the total value of this deemed claim was approximately $ 1.7 billion . ( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds . the debtors recorded an estimated claim associated with the rejection or modification of a financing .
Question: what was the percentage change in the net foreign currency losses , net in 2014 compared to 2013
Answer: | 1.03571 |
FINQA3662 | Please answer the given financial question based on the context.
Context: the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 20 . impairment expense asset impairment asset impairment expense for the year ended december 31 , 2011 consisted of : ( in millions ) .
||2011 ( in millions )|
|wind turbines & deposits|$ 116|
|tisza ii|52|
|kelanitissa|42|
|other|15|
|total|$ 225|
wind turbines & deposits 2014during the third quarter of 2011 , the company evaluated the future use of certain wind turbines held in storage pending their installation . due to reduced wind turbine market pricing and advances in turbine technology , the company determined it was more likely than not that the turbines would be sold significantly before the end of their previously estimated useful lives . in addition , the company has concluded that more likely than not non-refundable deposits it had made in prior years to a turbine manufacturer for the purchase of wind turbines are not recoverable . the company determined it was more likely than not that it would not proceed with the purchase of turbines due to the availability of more advanced and lower cost turbines in the market . these developments were more likely than not as of september 30 , 2011 and as a result were considered impairment indicators and the company determined that an impairment had occurred as of september 30 , 2011 as the aggregate carrying amount of $ 161 million of these assets was not recoverable and was reduced to their estimated fair value of $ 45 million determined under the market approach . this resulted in asset impairment expense of $ 116 million . wind generation is reported in the corporate and other segment . in january 2012 , the company forfeited the deposits for which a full impairment charge was recognized in the third quarter of 2011 , and there is no obligation for further payments under the related turbine supply agreement . additionally , the company sold some of the turbines held in storage during the fourth quarter of 2011 and is continuing to evaluate the future use of the turbines held in storage . the company determined it is more likely than not that they will be sold , however they are not being actively marketed for sale at this time as the company is reconsidering the potential use of the turbines in light of recent development activity at one of its advance stage development projects . it is reasonably possible that the turbines could incur further loss in value due to changing market conditions and advances in technology . tisza ii 2014during the fourth quarter of 2011 , tisza ii , a 900 mw gas and oil-fired generation plant in hungary entered into annual negotiations with its offtaker . as a result of these negotiations , as well as the further deterioration of the economic environment in hungary , the company determined that an indicator of impairment existed at december 31 , 2011 . thus , the company performed an asset impairment test and determined that based on the undiscounted cash flow analysis , the carrying amount of tisza ii asset group was not recoverable . the fair value of the asset group was then determined using a discounted cash flow analysis . the carrying value of the tisza ii asset group of $ 94 million exceeded the fair value of $ 42 million resulting in the recognition of asset impairment expense of $ 52 million during the three months ended december 31 , 2011 . tisza ii is reported in the europe generation reportable segment . kelanitissa 2014in 2011 , the company recognized asset impairment expense of $ 42 million for the long-lived assets of kelanitissa , our diesel-fired generation plant in sri lanka . we have continued to evaluate the recoverability of our long-lived assets at kelanitissa as a result of both the existing government regulation which .
Question: during 2011 , what percentage of the wind turbines & deposits were written down?
Answer: | 0.7205 |
FINQA3663 | Please answer the given financial question based on the context.
Context: "three factor formula" ) . the consolidated financial statements include northrop grumman management and support services allocations totaling $ 32 million for the year ended december 31 , 2011 . shared services and infrastructure costs - this category includes costs for functions such as information technology support , systems maintenance , telecommunications , procurement and other shared services while hii was a subsidiary of northrop grumman . these costs were generally allocated to the company using the three factor formula or based on usage . the consolidated financial statements reflect shared services and infrastructure costs allocations totaling $ 80 million for the year ended december 31 , 2011 . northrop grumman-provided benefits - this category includes costs for group medical , dental and vision insurance , 401 ( k ) savings plan , pension and postretirement benefits , incentive compensation and other benefits . these costs were generally allocated to the company based on specific identification of the benefits provided to company employees participating in these benefit plans . the consolidated financial statements include northrop grumman- provided benefits allocations totaling $ 169 million for the year ended december 31 , 2011 . management believes that the methods of allocating these costs are reasonable , consistent with past practices , and in conformity with cost allocation requirements of cas or the far . related party sales and cost of sales prior to the spin-off , hii purchased and sold certain products and services from and to other northrop grumman entities . purchases of products and services from these affiliated entities , which were recorded at cost , were $ 44 million for the year ended december 31 , 2011 . sales of products and services to these entities were $ 1 million for the year ended december 31 , 2011 . former parent's equity in unit transactions between hii and northrop grumman prior to the spin-off have been included in the consolidated financial statements and were effectively settled for cash at the time the transaction was recorded . the net effect of the settlement of these transactions is reflected as former parent's equity in unit in the consolidated statement of changes in equity . 21 . unaudited selected quarterly data unaudited quarterly financial results for the years ended december 31 , 2013 and 2012 , are set forth in the following tables: .
|( $ in millions except per share amounts )|year ended december 31 2013 1st qtr|year ended december 31 2013 2nd qtr|year ended december 31 2013 3rd qtr|year ended december 31 2013 4th qtr|
|sales and service revenues|$ 1562|$ 1683|$ 1637|$ 1938|
|operating income ( loss )|95|116|127|174|
|earnings ( loss ) before income taxes|65|87|99|143|
|net earnings ( loss )|44|57|69|91|
|dividends declared per share|$ 0.10|$ 0.10|$ 0.10|$ 0.20|
|basic earnings ( loss ) per share|$ 0.88|$ 1.14|$ 1.38|$ 1.86|
|diluted earnings ( loss ) per share|$ 0.87|$ 1.12|$ 1.36|$ 1.82|
.
Question: what is the total dividend per share declared in 2013?
Answer: | 0.5 |
FINQA3664 | Please answer the given financial question based on the context.
Context: adobe systems incorporated notes to consolidated financial statements ( continued ) foreign currency translation we translate assets and liabilities of foreign subsidiaries , whose functional currency is their local currency , at exchange rates in effect at the balance sheet date . we translate revenue and expenses at the monthly average exchange rates . we include accumulated net translation adjustments in stockholders 2019 equity as a component of accumulated other comprehensive income . property and equipment we record property and equipment at cost less accumulated depreciation and amortization . property and equipment are depreciated using the straight-line method over their estimated useful lives ranging from 1 to 5 years for computers and equipment , 1 to 6 years for furniture and fixtures and up to 35 years for buildings . leasehold improvements are amortized using the straight-line method over the lesser of the remaining respective lease term or useful lives . goodwill , purchased intangibles and other long-lived assets we review our goodwill for impairment annually , or more frequently , if facts and circumstances warrant a review . we completed our annual impairment test in the second quarter of fiscal 2009 and determined that there was no impairment . goodwill is assigned to one or more reporting segments on the date of acquisition . we evaluate goodwill for impairment by comparing the fair value of each of our reporting segments to its carrying value , including the associated goodwill . to determine the fair values , we use the market approach based on comparable publicly traded companies in similar lines of businesses and the income approach based on estimated discounted future cash flows . our cash flow assumptions consider historical and forecasted revenue , operating costs and other relevant factors . we amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists . we continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets , including our intangible assets may not be recoverable . when such events or changes in circumstances occur , we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows . if the future undiscounted cash flows are less than the carrying amount of these assets , we recognize an impairment loss based on the excess of the carrying amount over the fair value of the assets . we did not recognize any intangible asset impairment charges in fiscal 2009 , 2008 or 2007 . our intangible assets are amortized over their estimated useful lives of 1 to 13 years as shown in the table below . amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed . weighted average useful life ( years ) .
||weighted average useful life ( years )|
|purchased technology|7|
|localization|1|
|trademarks|7|
|customer contracts and relationships|10|
|other intangibles|2|
software development costs capitalization of software development costs for software to be sold , leased , or otherwise marketed begins upon the establishment of technological feasibility , which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate . amortization begins once the software is ready for its intended use , generally based on the pattern in which the economic benefits will be consumed . to date , software development costs incurred between completion of a working prototype and general availability of the related product have not been material . revenue recognition our revenue is derived from the licensing of software products , consulting , hosting services and maintenance and support . primarily , we recognize revenue when persuasive evidence of an arrangement exists , we have delivered the product or performed the service , the fee is fixed or determinable and collection is probable. .
Question: what is the average weighted average useful life ( years ) for trademarks and customer contracts and relationships?
Answer: | 8.5 |
FINQA3665 | Please answer the given financial question based on the context.
Context: in a new business model such as the retail segment is inherently risky , particularly in light of the significant investment involved , the current economic climate , and the fixed nature of a substantial portion of the retail segment's operating expenses . results for this segment are dependent upon a number of risks and uncertainties , some of which are discussed below under the heading "factors that may affect future results and financial condition." backlog in the company's experience , the actual amount of product backlog at any particular time is not a meaningful indication of its future business prospects . in particular , backlog often increases in anticipation of or immediately following new product introductions because of over- ordering by dealers anticipating shortages . backlog often is reduced once dealers and customers believe they can obtain sufficient supply . because of the foregoing , backlog cannot be considered a reliable indicator of the company's ability to achieve any particular level of revenue or financial performance . further information regarding the company's backlog may be found below under the heading "factors that may affect future results and financial condition." gross margin gross margin for the three fiscal years ended september 28 , 2002 are as follows ( in millions , except gross margin percentages ) : gross margin increased to 28% ( 28 % ) of net sales in 2002 from 23% ( 23 % ) in 2001 . as discussed below , gross margin in 2001 was unusually low resulting from negative gross margin of 2% ( 2 % ) experienced in the first quarter of 2001 . as a percentage of net sales , the company's quarterly gross margins declined during fiscal 2002 from 31% ( 31 % ) in the first quarter down to 26% ( 26 % ) in the fourth quarter . this decline resulted from several factors including a rise in component costs as the year progressed and aggressive pricing by the company across its products lines instituted as a result of continued pricing pressures in the personal computer industry . the company anticipates that its gross margin and the gross margin of the overall personal computer industry will remain under pressure throughout fiscal 2003 in light of weak economic conditions , flat demand for personal computers in general , and the resulting pressure on prices . the foregoing statements regarding anticipated gross margin in 2003 and the general demand for personal computers during 2003 are forward- looking . gross margin could differ from anticipated levels because of several factors , including certain of those set forth below in the subsection entitled "factors that may affect future results and financial condition." there can be no assurance that current gross margins will be maintained , targeted gross margin levels will be achieved , or current margins on existing individual products will be maintained . in general , gross margins and margins on individual products will remain under significant downward pressure due to a variety of factors , including continued industry wide global pricing pressures , increased competition , compressed product life cycles , potential increases in the cost and availability of raw material and outside manufacturing services , and potential changes to the company's product mix , including higher unit sales of consumer products with lower average selling prices and lower gross margins . in response to these downward pressures , the company expects it will continue to take pricing actions with respect to its products . gross margins could also be affected by the company's ability to effectively manage quality problems and warranty costs and to stimulate demand for certain of its products . the company's operating strategy and pricing take into account anticipated changes in foreign currency exchange rates over time ; however , the company's results of operations can be significantly affected in the short-term by fluctuations in exchange rates . the company orders components for its products and builds inventory in advance of product shipments . because the company's markets are volatile and subject to rapid technology and price changes , there is a risk the company will forecast incorrectly and produce or order from third parties excess or insufficient inventories of particular products or components . the company's operating results and financial condition have been in the past and may in the future be materially adversely affected by the company's ability to manage its inventory levels and outstanding purchase commitments and to respond to short-term shifts in customer demand patterns . gross margin declined to 23% ( 23 % ) of net sales in 2001 from 27% ( 27 % ) in 2000 . this decline resulted primarily from gross margin of negative 2% ( 2 % ) experienced during the first quarter of 2001 compared to 26% ( 26 % ) gross margin for the same quarter in 2000 . in addition to lower than normal net .
||2002|2001|2000|
|net sales|$ 5742|$ 5363|$ 7983|
|cost of sales|4139|4128|5817|
|gross margin|$ 1603|$ 1235|$ 2166|
|gross margin percentage|28% ( 28 % )|23% ( 23 % )|27% ( 27 % )|
.
Question: what was the percentage change in net sales from 2001 to 2002?
Answer: | 0.07067 |
FINQA3666 | Please answer the given financial question based on the context.
Context: .
||june 27 2013|december 31 2013|
|cdw corp|$ 100|$ 138|
|s&p midcap 400 index|100|118|
|cdw peers|100|113|
use of proceeds from registered securities on july 2 , 2013 , the company completed an ipo of its common stock in which it issued and sold 23250000 shares of common stock . on july 31 , 2013 , the company completed the sale of an additional 3487500 shares of common stock to the underwriters of the ipo pursuant to the underwriters 2019 july 26 , 2013 exercise in full of the overallotment option granted to them in connection with the ipo . such shares were registered under the securities act of 1933 , as amended , pursuant to the company 2019s registration statement on form s-1 ( file 333-187472 ) , which was declared effective by the sec on june 26 , 2013 . the shares of common stock are listed on the nasdaq global select market under the symbol 201ccdw . 201d the company 2019s shares of common stock were sold to the underwriters at a price of $ 17.00 per share in the ipo and upon the exercise of the overallotment option , which together , generated aggregate net proceeds of $ 424.7 million to the company after deducting $ 29.8 million in underwriting discounts , expenses and transaction costs . using a portion of the net proceeds from the ipo ( exclusive of proceeds from the exercise of the overallotment option ) , the company paid a $ 24.4 million termination fee to affiliates of madison dearborn partners , llc and providence equity partners , l.l.c . in connection with the termination of the management services agreement with such entities that was effective upon completion of the ipo , redeemed $ 175.0 million aggregate principal amount of senior secured notes due 2018 , and redeemed $ 146.0 million aggregate principal amount of senior subordinated notes due 2017 . the redemption price of the senior secured notes due 2018 was 108.0% ( 108.0 % ) of the principal amount redeemed , plus accrued and unpaid interest to the date of redemption . the company used cash on hand to pay such accrued and unpaid interest . the redemption price of the senior subordinated notes due 2017 was 106.268% ( 106.268 % ) of the principal amount redeemed , plus accrued and unpaid interest to the date of redemption . the company used cash on hand to pay such accrued and unpaid interest . on october 18 , 2013 , proceeds from the overallotment option exercise of $ 56.0 million and cash on hand were used to redeem $ 155.0 million aggregate principal amount of senior subordinated notes due 2017 . the redemption price of the senior subordinated notes due 2017 was 104.178% ( 104.178 % ) of the principal amount redeemed , plus accrued and unpaid interest to the date of redemption . the company used cash on hand to pay such redemption premium and accrued and unpaid interest . j.p . morgan securities llc , barclays capital inc . and goldman , sachs & co . acted as joint book-running managers of the ipo and as representatives of the underwriters . deutsche bank securities inc . and morgan stanley & co . llc acted as additional book-running managers in the ipo . robert w . baird & co . incorporated , raymond james & associates , inc. , william blair & company , l.l.c. , needham & company , llc , stifel , nicolaus & company , incorporated , loop capital markets llc and the williams capital group , l.p . acted as managing underwriters in the ipo. .
Question: what was the total number of shares issued in the ipo including the sale of the additional shares of common stock to the underwriters of the ipo pursuant to the underwriters 2019 july 26 , 2013 exercise in full of the overallotment option grant?
Answer: | 26737500.0 |
FINQA3667 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries notes to financial statements ouachita in september 2008 , entergy arkansas purchased the ouachita plant , a 789 mw three-train gas-fired combined cycle generating turbine ( ccgt ) electric power plant located 20 miles south of the arkansas state line near sterlington , louisiana , for approximately $ 210 million from a subsidiary of cogentrix energy , inc . entergy arkansas received the plant , materials and supplies , and related real estate in the transaction . the ferc and the apsc approved the acquisition . the apsc also approved the recovery of the acquisition and ownership costs through a rate rider and the planned sale of one-third of the capacity and energy to entergy gulf states louisiana . the lpsc also approved the purchase of one-third of the capacity and energy by entergy gulf states louisiana , subject to certain conditions , including a study to determine the costs and benefits of entergy gulf states louisiana exercising an option to purchase one-third of the plant ( unit 3 ) from entergy arkansas . entergy gulf states louisiana is scheduled to report the results of that study by march 30 , 2009 . palisades in april 2007 , entergy's non-utility nuclear business purchased the 798 mw palisades nuclear energy plant located near south haven , michigan from consumers energy company for a net cash payment of $ 336 million . entergy received the plant , nuclear fuel , inventories , and other assets . the liability to decommission the plant , as well as related decommissioning trust funds , was also transferred to entergy's non-utility nuclear business . entergy's non-utility nuclear business executed a unit-contingent , 15-year purchased power agreement ( ppa ) with consumers energy for 100% ( 100 % ) of the plant's output , excluding any future uprates . prices under the ppa range from $ 43.50/mwh in 2007 to $ 61.50/mwh in 2022 , and the average price under the ppa is $ 51/mwh . in the first quarter 2007 , the nrc renewed palisades' operating license until 2031 . as part of the transaction , entergy's non- utility nuclear business assumed responsibility for spent fuel at the decommissioned big rock point nuclear plant , which is located near charlevoix , michigan . palisades' financial results since april 2007 are included in entergy's non-utility nuclear business segment . the following table summarizes the assets acquired and liabilities assumed at the date of acquisition . amount ( in millions ) .
||amount ( in millions )|
|plant ( including nuclear fuel )|$ 727|
|decommissioning trust funds|252|
|other assets|41|
|total assets acquired|1020|
|purchased power agreement ( below market )|420|
|decommissioning liability|220|
|other liabilities|44|
|total liabilities assumed|684|
|net assets acquired|$ 336|
subsequent to the closing , entergy received approximately $ 6 million from consumers energy company as part of the post-closing adjustment defined in the asset sale agreement . the post-closing adjustment amount resulted in an approximately $ 6 million reduction in plant and a corresponding reduction in other liabilities . for the ppa , which was at below-market prices at the time of the acquisition , non-utility nuclear will amortize a liability to revenue over the life of the agreement . the amount that will be amortized each period is based upon the difference between the present value calculated at the date of acquisition of each year's difference between revenue under the agreement and revenue based on estimated market prices . amounts amortized to revenue were $ 76 .
Question: what portion of the total acquired asset is composed of decommissioning trust funds?
Answer: | 0.24706 |
FINQA3668 | Please answer the given financial question based on the context.
Context: note 18 . contingencies : tobacco-related litigation legal proceedings covering a wide range of matters are pending or threatened against us , and/or our subsidiaries , and/or our indemnitees in various jurisdictions . our indemnitees include distributors , licensees , and others that have been named as parties in certain cases and that we have agreed to defend , as well as to pay costs and some or all of judgments , if any , that may be entered against them . pursuant to the terms of the distribution agreement between altria group , inc . ( "altria" ) and pmi , pmi will indemnify altria and philip morris usa inc . ( "pm usa" ) , a u.s . tobacco subsidiary of altria , for tobacco product claims based in substantial part on products manufactured by pmi or contract manufactured for pmi by pm usa , and pm usa will indemnify pmi for tobacco product claims based in substantial part on products manufactured by pm usa , excluding tobacco products contract manufactured for pmi . it is possible that there could be adverse developments in pending cases against us and our subsidiaries . an unfavorable outcome or settlement of pending tobacco-related litigation could encourage the commencement of additional litigation . damages claimed in some of the tobacco-related litigation are significant and , in certain cases in brazil , canada , israel and nigeria , range into the billions of u.s . dollars . the variability in pleadings in multiple jurisdictions , together with the actual experience of management in litigating claims , demonstrate that the monetary relief that may be specified in a lawsuit bears little relevance to the ultimate outcome . much of the tobacco-related litigation is in its early stages , and litigation is subject to uncertainty . however , as discussed below , we have to date been largely successful in defending tobacco-related litigation . we and our subsidiaries record provisions in the consolidated financial statements for pending litigation when we determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated . at the present time , while it is reasonably possible that an unfavorable outcome in a case may occur , after assessing the information available to it ( i ) management has not concluded that it is probable that a loss has been incurred in any of the pending tobacco-related cases ; ( ii ) management is unable to estimate the possible loss or range of loss for any of the pending tobacco-related cases ; and ( iii ) accordingly , no estimated loss has been accrued in the consolidated financial statements for unfavorable outcomes in these cases , if any . legal defense costs are expensed as incurred . it is possible that our consolidated results of operations , cash flows or financial position could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation . nevertheless , although litigation is subject to uncertainty , we and each of our subsidiaries named as a defendant believe , and each has been so advised by counsel handling the respective cases , that we have valid defenses to the litigation pending against us , as well as valid bases for appeal of adverse verdicts . all such cases are , and will continue to be , vigorously defended . however , we and our subsidiaries may enter into settlement discussions in particular cases if we believe it is in our best interests to do so . to date , no tobacco-related case has been finally resolved in favor of a plaintiff against us , our subsidiaries or indemnitees . the table below lists the number of tobacco-related cases pertaining to combustible products pending against us and/or our subsidiaries or indemnitees as of february 4 , 2019 , february 9 , 2018 and december 31 , 2016 : type of case number of cases pending as of february 4 , 2019 number of cases pending as of february 9 , 2018 number of cases pending as of december 31 , 2016 .
|type of case|number of cases pending as of february 4 2019|number of cases pending as of february 9 2018|number of cases pending as of december 31 2016|
|individual smoking and health cases|55|57|64|
|smoking and health class actions|10|11|11|
|health care cost recovery actions|16|16|16|
|label-related class actions|1|1|2014|
|individual label-related cases|7|1|3|
|public civil actions|2|2|2|
since 1995 , when the first tobacco-related litigation was filed against a pmi entity , 491 smoking and health , label-related , health care cost recovery , and public civil actions in which we and/or one of our subsidiaries and/or indemnitees were a defendant have been terminated in our favor . thirteen cases have had decisions in favor of plaintiffs . nine of these cases have subsequently reached final resolution in our favor and four remain on appeal. .
Question: what is the net change in the number of individual smoking and health cases pending from 2018 to 2019?
Answer: | -2.0 |
FINQA3669 | Please answer the given financial question based on the context.
Context: properties 33vornado realty trust supermarkets , home improvement stores , discount apparel stores and membership warehouse clubs . tenants typically offer basic consumer necessities such as food , health and beauty aids , moderately priced clothing , building materials and home improvement supplies , and compete primarily on the basis of price and location . regional malls : the green acres mall in long island , new york contains 1.6 million square feet , and is anchored by four major department stores : sears , j.c . penney , federated department stores , doing business as macy 2019s and macy 2019s men 2019s furniture gallery . the complex also includes the plaza at green acres , a 175000 square foot strip shopping center which is anchored by wal-mart and national wholesale liquidators . the company plans to renovate the interior and exterior of the mall and construct 100000 square feet of free-standing retail space and parking decks in the complex , subject to governmental approvals . in addition , the company has entered into a ground lease with b.j . 2019s wholesale club who will construct its own free-standing store in the mall complex . the expansion and renovation are expected to be completed in 2007 . the monmouth mall in eatontown , new jersey , owned 50% ( 50 % ) by the company , contains 1.4 million square feet and is anchored by four department stores ; macy 2019s , lord & taylor , j.c . penney and boscovs , three of which own their stores aggregating 719000 square feet . the joint venture plans to construct 80000 square feet of free-standing retail space in the mall complex , subject to governmental approvals . the expansion is expected to be completed in 2007 . the broadway mall in hicksville , long island , new york , contains 1.2 million square feet and is anchored by macy 2019s , ikea , multiplex cinema and target , which owns its store containing 141000 square feet . the bergen mall in paramus , new jersey , as currently exists , contains 900000 square feet . the company plans to demolish approximately 300000 square feet and construct approximately 580000 square feet of retail space , which will bring the total square footage of the mall to approximately 1360000 , including 180000 square feet to be built by target on land leased from the company . as of december 31 , 2005 , the company has taken 480000 square feet out of service for redevelopment and leased 236000 square feet to century 21 and whole foods . all of the foregoing is subject to governmental approvals . the expansion and renovations , as planned , are expected to be completed in 2008 . the montehiedra mall in san juan , puerto rico , contains 563000 square feet and is anchored by home depot , kmart , and marshalls . the south hills mall in poughkeepsie , new york , contains 668000 square feet and is anchored by kmart and burlington coat factory . the company plans to redevelop and retenant the mall , subject to governmental approvals . the las catalinas mall in san juan , puerto rico , contains 495000 square feet and is anchored by kmart and sears , which owns its 140000 square foot store . occupancy and average annual base rent per square foot : at december 31 , 2005 , the aggregate occupancy rate for the 16169000 square feet of retail properties was 95.6% ( 95.6 % ) . strip shopping centers : average annual rentable base rent as of december 31 , square feet occupancy rate per square foot .
|as of december 31,|rentable square feet|occupancy rate|average annual base rent per square foot|
|2005|10750000|95.5% ( 95.5 % )|$ 12.07|
|2004|9931000|94.5% ( 94.5 % )|12.00|
|2003|8798000|92.3% ( 92.3 % )|11.91|
|2002|9295000|85.7% ( 85.7 % )|11.11|
|2001|9008000|89.0% ( 89.0 % )|10.60|
.
Question: for the the bergen mall in paramus , new jersey , approximately what percentage will be the square feet to be built by target on land leased from the company?
Answer: | 0.13235 |
FINQA3670 | Please answer the given financial question based on the context.
Context: 2022 selling costs increased $ 25.0 million to $ 94.6 million in 2010 from $ 69.6 million in 2009 . this increase was primarily due to higher personnel and other costs incurred for the continued expansion of our direct to consumer distribution channel and higher selling personnel costs , including increased expenses for our performance incentive plan as compared to the prior year . as a percentage of net revenues , selling costs increased to 8.9% ( 8.9 % ) in 2010 from 8.1% ( 8.1 % ) in 2009 primarily due to higher personnel and other costs incurred for the continued expansion of our factory house stores . 2022 product innovation and supply chain costs increased $ 25.0 million to $ 96.8 million in 2010 from $ 71.8 million in 2009 primarily due to higher personnel costs for the design and sourcing of our expanding apparel , footwear and accessories lines and higher distribution facilities operating and personnel costs as compared to the prior year to support our growth in net revenues . in addition , we incurred higher expenses for our performance incentive plan as compared to the prior year . as a percentage of net revenues , product innovation and supply chain costs increased to 9.1% ( 9.1 % ) in 2010 from 8.4% ( 8.4 % ) in 2009 primarily due to the items noted above . 2022 corporate services costs increased $ 24.0 million to $ 98.6 million in 2010 from $ 74.6 million in 2009 . this increase was attributable primarily to higher corporate facility costs , information technology initiatives and corporate personnel costs , including increased expenses for our performance incentive plan as compared to the prior year . as a percentage of net revenues , corporate services costs increased to 9.3% ( 9.3 % ) in 2010 from 8.7% ( 8.7 % ) in 2009 primarily due to the items noted above . income from operations increased $ 27.1 million , or 31.8% ( 31.8 % ) , to $ 112.4 million in 2010 from $ 85.3 million in 2009 . income from operations as a percentage of net revenues increased to 10.6% ( 10.6 % ) in 2010 from 10.0% ( 10.0 % ) in 2009 . this increase was a result of the items discussed above . interest expense , net remained unchanged at $ 2.3 million in 2010 and 2009 . other expense , net increased $ 0.7 million to $ 1.2 million in 2010 from $ 0.5 million in 2009 . the increase in 2010 was due to higher net losses on the combined foreign currency exchange rate changes on transactions denominated in the euro and canadian dollar and our derivative financial instruments as compared to 2009 . provision for income taxes increased $ 4.8 million to $ 40.4 million in 2010 from $ 35.6 million in 2009 . our effective tax rate was 37.1% ( 37.1 % ) in 2010 compared to 43.2% ( 43.2 % ) in 2009 , primarily due to tax planning strategies and federal and state tax credits reducing the effective tax rate , partially offset by a valuation allowance recorded against our foreign net operating loss carryforward . segment results of operations year ended december 31 , 2011 compared to year ended december 31 , 2010 net revenues by geographic region are summarized below: .
|( in thousands )|year ended december 31 , 2011|year ended december 31 , 2010|year ended december 31 , $ change|year ended december 31 , % ( % ) change|
|north america|$ 1383346|$ 997816|$ 385530|38.6% ( 38.6 % )|
|other foreign countries|89338|66111|23227|35.1|
|total net revenues|$ 1472684|$ 1063927|$ 408757|38.4% ( 38.4 % )|
net revenues in our north american operating segment increased $ 385.5 million to $ 1383.3 million in 2011 from $ 997.8 million in 2010 primarily due to the items discussed above in the consolidated results of operations . net revenues in other foreign countries increased by $ 23.2 million to $ 89.3 million in 2011 from $ 66.1 million in 2010 primarily due to footwear shipments to our dome licensee , as well as unit sales growth to our distributors in our latin american operating segment. .
Question: what was the percentage increase in the provision for income taxes from 2009 to 2010
Answer: | 0.13483 |
FINQA3671 | Please answer the given financial question based on the context.
Context: pricing the loans . when available , valuation assumptions included observable inputs based on whole loan sales . adjustments are made to these assumptions to account for situations when uncertainties exist , including market conditions and liquidity . credit risk is included as part of our valuation process for these loans by considering expected rates of return for market participants for similar loans in the marketplace . based on the significance of unobservable inputs , we classify this portfolio as level 3 . equity investments the valuation of direct and indirect private equity investments requires significant management judgment due to the absence of quoted market prices , inherent lack of liquidity and the long-term nature of such investments . the carrying values of direct and affiliated partnership interests reflect the expected exit price and are based on various techniques including publicly traded price , multiples of adjusted earnings of the entity , independent appraisals , anticipated financing and sale transactions with third parties , or the pricing used to value the entity in a recent financing transaction . in september 2009 , the fasb issued asu 2009-12 2013 fair value measurements and disclosures ( topic 820 ) 2013 investments in certain entities that calculate net asset value per share ( or its equivalent ) . based on the guidance , we value indirect investments in private equity funds based on net asset value as provided in the financial statements that we receive from their managers . due to the time lag in our receipt of the financial information and based on a review of investments and valuation techniques applied , adjustments to the manager-provided value are made when available recent portfolio company information or market information indicates a significant change in value from that provided by the manager of the fund . these investments are classified as level 3 . customer resale agreements we account for structured resale agreements , which are economically hedged using free-standing financial derivatives , at fair value . the fair value for structured resale agreements is determined using a model which includes observable market data such as interest rates as inputs . readily observable market inputs to this model can be validated to external sources , including yield curves , implied volatility or other market-related data . these instruments are classified as level 2 . blackrock series c preferred stock effective february 27 , 2009 , we elected to account for the approximately 2.9 million shares of the blackrock series c preferred stock received in a stock exchange with blackrock at fair value . the series c preferred stock economically hedges the blackrock ltip liability that is accounted for as a derivative . the fair value of the series c preferred stock is determined using a third-party modeling approach , which includes both observable and unobservable inputs . this approach considers expectations of a default/liquidation event and the use of liquidity discounts based on our inability to sell the security at a fair , open market price in a timely manner . due to the significance of unobservable inputs , this security is classified as level 3 . level 3 assets and liabilities financial instruments are considered level 3 when their values are determined using pricing models , discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable . level 3 assets and liabilities dollars in millions level 3 assets level 3 liabilities % ( % ) of total assets at fair value % ( % ) of total liabilities at fair value consolidated assets consolidated liabilities .
|dollars in millions|total level 3 assets|total level 3 liabilities|% ( % ) of total assets at fair value|% ( % ) of total liabilities at fair value|% ( % ) of consolidated assets|% ( % ) of consolidated liabilities||
|december 31 2009|$ 14151|$ 295|22% ( 22 % )|6% ( 6 % )|5% ( 5 % )|< 1|% ( % )|
|december 31 2008|7012|22|19% ( 19 % )|< 1% ( 1 % )|2% ( 2 % )|< 1% ( 1 % )||
during 2009 , securities transferred into level 3 from level 2 exceeded securities transferred out by $ 4.4 billion . total securities measured at fair value and classified in level 3 at december 31 , 2009 and december 31 , 2008 included securities available for sale and trading securities consisting primarily of non-agency residential mortgage-backed securities and asset- backed securities where management determined that the volume and level of activity for these assets had significantly decreased . there have been no recent new 201cprivate label 201d issues in the residential mortgage-backed securities market . the lack of relevant market activity for these securities resulted in management modifying its valuation methodology for the instruments transferred in 2009 . other level 3 assets include certain commercial mortgage loans held for sale , certain equity securities , auction rate securities , corporate debt securities , private equity investments , residential mortgage servicing rights and other assets. .
Question: what was the increase in level 3 assets between december 31 2009 and december 31 2008 , in millions?
Answer: | 7139.0 |
FINQA3672 | Please answer the given financial question based on the context.
Context: synopsys , inc . notes to consolidated financial statements 2014continued acquisition of magma design automation , inc . ( magma ) on february 22 , 2012 , the company acquired all outstanding shares of magma , a chip design software provider , at a per-share price of $ 7.35 . additionally , the company assumed unvested restricted stock units ( rsus ) and stock options , collectively called 201cequity awards . 201d the aggregate purchase price was approximately $ 550.2 million . this acquisition enables the company to more rapidly meet the needs of leading-edge semiconductor designers for more sophisticated design tools . as of october 31 , 2012 , the total purchase consideration and the preliminary purchase price allocation were as follows: .
||( in thousands )|
|cash paid|$ 543437|
|fair value of assumed equity awards allocated to purchase consideration|6797|
|total purchase consideration|$ 550234|
|goodwill|316263|
|identifiable intangibles assets acquired|184300|
|cash and other assets acquired|116265|
|debt and liabilities assumed|-66594 ( 66594 )|
|total purchase allocation|$ 550234|
goodwill of $ 316.3 million , which is not deductible for tax purposes , primarily resulted from the company 2019s expectation of sales growth and cost synergies from the integration of magma 2019s technology and operations with the company 2019s technology and operations . identifiable intangible assets , consisting primarily of technology , customer relationships , backlog and trademarks , were valued using the income method , and are being amortized over three to ten years . acquisition-related costs directly attributable to the business combination totaling $ 33.5 million for fiscal 2012 were expensed as incurred in the consolidated statements of operations and consist primarily of employee separation costs , contract terminations , professional services , and facilities closure costs . fair value of equity awards assumed . the company assumed unvested restricted stock units ( rsus ) and stock options with a fair value of $ 22.2 million . the black-scholes option-pricing model was used to determine the fair value of these stock options , whereas the fair value of the rsus was based on the market price on the grant date of the instruments . the black-scholes option-pricing model incorporates various subjective assumptions including expected volatility , expected term and risk-free interest rates . the expected volatility was estimated by a combination of implied and historical stock price volatility of the options . of the total fair value of the equity awards assumed , $ 6.8 million was allocated to the purchase consideration and $ 15.4 million was allocated to future services to be expensed over their remaining service periods on a straight-line basis . supplemental pro forma information ( unaudited ) . the financial information in the table below summarizes the combined results of operations of the company and magma , on a pro forma basis , as though the companies had been combined as of the beginning of fiscal 2011. .
Question: what percentage of the total purchase consideration was for intangible assets?
Answer: | 0.90973 |
FINQA3673 | Please answer the given financial question based on the context.
Context: arconic and subsidiaries notes to the consolidated financial statements ( dollars in millions , except per-share amounts ) a . summary of significant accounting policies basis of presentation . the consolidated financial statements of arconic inc . and subsidiaries ( 201carconic 201d or the 201ccompany 201d ) are prepared in conformity with accounting principles generally accepted in the united states of america ( gaap ) and require management to make certain judgments , estimates , and assumptions . these may affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements . they also may affect the reported amounts of revenues and expenses during the reporting period . actual results could differ from those estimates upon subsequent resolution of identified matters . certain prior year amounts have been reclassified to conform to the current year presentation . the separation of alcoa inc . into two standalone , publicly-traded companies , arconic inc . ( the new name for alcoa inc. ) and alcoa corporation , became effective on november 1 , 2016 ( the 201cseparation transaction 201d ) . the financial results of alcoa corporation for all periods prior to the separation transaction have been retrospectively reflected in the statement of consolidated operations as discontinued operations and , as such , have been excluded from continuing operations and segment results for all periods presented prior to the separation transaction . the cash flows and comprehensive income related to alcoa corporation have not been segregated and are included in the statement of consolidated cash flows and statement of consolidated comprehensive ( loss ) income , respectively , for all periods presented . see note c for additional information related to the separation transaction and discontinued operations . principles of consolidation . the consolidated financial statements include the accounts of arconic and companies in which arconic has a controlling interest . intercompany transactions have been eliminated . investments in affiliates in which arconic cannot exercise significant influence are accounted for on the cost method . management also evaluates whether an arconic entity or interest is a variable interest entity and whether arconic is the primary beneficiary . consolidation is required if both of these criteria are met . arconic does not have any variable interest entities requiring consolidation . related party transactions . arconic buys products from and provides services to alcoa corporation following the separation at negotiated prices between the parties . these transactions were not material to the financial position or results of operations of arconic for all periods presented . effective may 2017 , upon disposition of the remaining common stock that arconic held in alcoa corporation , they are no longer deemed a related party . cash equivalents . cash equivalents are highly liquid investments purchased with an original maturity of three months or less . inventory valuation . inventories are carried at the lower of cost and net realizable value , with cost for approximately half of u.s . inventories determined under the last-in , first-out ( lifo ) method . the cost of other inventories is determined under a combination of the first-in , first-out ( fifo ) and average-cost methods . properties , plants , and equipment . properties , plants , and equipment are recorded at cost . depreciation is recorded principally on the straight-line method at rates based on the estimated useful lives of the assets . the following table details the weighted-average useful lives of structures and machinery and equipment by reporting segment ( numbers in years ) : .
|segment|structures|machinery and equipment|
|engineered products and solutions|29|17|
|global rolled products|31|21|
|transportation and construction solutions|27|18|
gains or losses from the sale of assets are generally recorded in other income , net ( see policy below for assets classified as held for sale and discontinued operations ) . repairs and maintenance are charged to expense as incurred . interest related to the construction of qualifying assets is capitalized as part of the construction costs . properties , plants , and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets ( asset group ) may not be recoverable . recoverability of assets is determined by comparing the estimated undiscounted net cash flows of the operations related to the assets ( asset group ) to their carrying amount . an impairment loss would be recognized when the carrying amount of the assets ( asset group ) exceeds the estimated undiscounted net cash flows . the amount of the impairment loss to be recorded is calculated as the excess of the carrying value of the assets .
Question: what is the variation between the useful lives of the structures and machinery and equipment by the global rolled products segment?
Answer: | 10.0 |
FINQA3674 | Please answer the given financial question based on the context.
Context: valuation techniques 2013 cash equivalents are mostly comprised of short-term money-market instruments and are valued at cost , which approximates fair value . u.s . equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year . for u.s . equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker , or investment manager . these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager . commingled equity funds are public investment vehicles valued using the net asset value ( nav ) provided by the fund manager . the nav is the total value of the fund divided by the number of shares outstanding . commingled equity funds are categorized as level 1 if traded at their nav on a nationally recognized securities exchange or categorized as level 2 if the nav is corroborated by observable market data ( e.g. , purchases or sales activity ) . fixed income securities categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g . interest rates and yield curves observable at commonly quoted intervals ) , bids provided by brokers or dealers , or quoted prices of securities with similar characteristics . private equity funds , real estate funds , hedge funds , and fixed income securities categorized as level 3 are valued based on valuation models that include significant unobservable inputs and cannot be corroborated using verifiable observable market data . valuations for private equity funds and real estate funds are determined by the general partners , while hedge funds are valued by independent administrators . depending on the nature of the assets , the general partners or independent administrators use both the income and market approaches in their models . the market approach consists of analyzing market transactions for comparable assets while the income approach uses earnings or the net present value of estimated future cash flows adjusted for liquidity and other risk factors . commodities categorized as level 1 are traded on an active commodity exchange and are valued at their closing prices on the last trading day of the year . commodities categorized as level 2 represent shares in a commingled commodity fund valued using the nav , which is corroborated by observable market data . contributions and expected benefit payments we generally determine funding requirements for our defined benefit pension plans in a manner consistent with cas and internal revenue code rules . in 2012 , we made contributions of $ 3.6 billion related to our qualified defined benefit pension plans . we plan to make contributions of approximately $ 1.5 billion related to the qualified defined benefit pension plans in 2013 . in 2012 , we made contributions of $ 235 million related to our retiree medical and life insurance plans . we expect no required contributions related to the retiree medical and life insurance plans in 2013 . the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2012 ( in millions ) : .
||2013|2014|2015|2016|2017|2018 - 2022|
|qualified defined benefit pension plans|$ 1900|$ 1970|$ 2050|$ 2130|$ 2220|$ 12880|
|retiree medical and life insurance plans|200|210|220|220|220|1080|
defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees . under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents . our contributions were $ 380 million in 2012 , $ 378 million in 2011 , and $ 379 million in 2010 , the majority of which were funded in our common stock . our defined contribution plans held approximately 48.6 million and 52.1 million shares of our common stock as of december 31 , 2012 and 2011. .
Question: what is the expected percentage change in contributions related to qualified defined benefit pension plans in 2013 compare to 2012?
Answer: | -0.58333 |
FINQA3675 | Please answer the given financial question based on the context.
Context: the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2018 , 2017 , and 2016 the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated ( in millions ) : .
||2018|2017|2016|
|balance at january 1|$ 348|$ 352|$ 364|
|additions for current year tax positions|2|2014|2|
|additions for tax positions of prior years|146|2|1|
|reductions for tax positions of prior years|( 26 )|( 5 )|( 1 )|
|settlements|2014|2014|( 13 )|
|lapse of statute of limitations|( 7 )|( 1 )|( 1 )|
|balance at december 31|$ 463|$ 348|$ 352|
the company and certain of its subsidiaries are currently under examination by the relevant taxing authorities for various tax years . the company regularly assesses the potential outcome of these examinations in each of the taxing jurisdictions when determining the adequacy of the amount of unrecognized tax benefit recorded . while it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position , we believe we have appropriately accrued for our uncertain tax benefits . however , audit outcomes and the timing of audit settlements and future events that would impact our previously recorded unrecognized tax benefits and the range of anticipated increases or decreases in unrecognized tax benefits are subject to significant uncertainty . it is possible that the ultimate outcome of current or future examinations may exceed our provision for current unrecognized tax benefits in amounts that could be material , but cannot be estimated as of december 31 , 2018 . our effective tax rate and net income in any given future period could therefore be materially impacted . 22 . discontinued operations due to a portfolio evaluation in the first half of 2016 , management decided to pursue a strategic shift of its distribution companies in brazil , sul and eletropaulo , to reduce the company's exposure to the brazilian distribution market . the disposals of sul and eletropaulo were completed in october 2016 and june 2018 , respectively . eletropaulo 2014 in november 2017 , eletropaulo converted its preferred shares into ordinary shares and transitioned the listing of those shares to the novo mercado , which is a listing segment of the brazilian stock exchange with the highest standards of corporate governance . upon conversion of the preferred shares into ordinary shares , aes no longer controlled eletropaulo , but maintained significant influence over the business . as a result , the company deconsolidated eletropaulo . after deconsolidation , the company's 17% ( 17 % ) ownership interest was reflected as an equity method investment . the company recorded an after-tax loss on deconsolidation of $ 611 million , which primarily consisted of $ 455 million related to cumulative translation losses and $ 243 million related to pension losses reclassified from aocl . in december 2017 , all the remaining criteria were met for eletropaulo to qualify as a discontinued operation . therefore , its results of operations and financial position were reported as such in the consolidated financial statements for all periods presented . in june 2018 , the company completed the sale of its entire 17% ( 17 % ) ownership interest in eletropaulo through a bidding process hosted by the brazilian securities regulator , cvm . gross proceeds of $ 340 million were received at our subsidiary in brazil , subject to the payment of taxes . upon disposal of eletropaulo , the company recorded a pre-tax gain on sale of $ 243 million ( after-tax $ 199 million ) . excluding the gain on sale , eletropaulo's pre-tax loss attributable to aes was immaterial for the year ended december 31 , 2018 . eletropaulo's pre-tax loss attributable to aes , including the loss on deconsolidation , for the years ended december 31 , 2017 and 2016 was $ 633 million and $ 192 million , respectively . prior to its classification as discontinued operations , eletropaulo was reported in the south america sbu reportable segment . sul 2014 the company executed an agreement for the sale of sul , a wholly-owned subsidiary , in june 2016 . the results of operations and financial position of sul are reported as discontinued operations in the consolidated financial statements for all periods presented . upon meeting the held-for-sale criteria , the company recognized an after-tax loss of $ 382 million comprised of a pre-tax impairment charge of $ 783 million , offset by a tax benefit of $ 266 million related to the impairment of the sul long lived assets and a tax benefit of $ 135 million for deferred taxes related to the investment in sul . prior to the impairment charge , the carrying value of the sul asset group of $ 1.6 billion was greater than its approximate fair value less costs to sell . however , the impairment charge was limited to the carrying value of the long lived assets of the sul disposal group. .
Question: what was the implied value as of june 2018 for eletropaulo , in millions?
Answer: | 2000.0 |
FINQA3676 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis operating expenses our operating expenses are primarily influenced by compensation , headcount and levels of business activity . compensation and benefits includes salaries , discretionary compensation , amortization of equity awards and other items such as benefits . discretionary compensation is significantly impacted by , among other factors , the level of net revenues , overall financial performance , prevailing labor markets , business mix , the structure of our share- based compensation programs and the external environment . in addition , see 201cuse of estimates 201d for additional information about expenses that may arise from litigation and regulatory proceedings . the table below presents our operating expenses and total staff ( which includes employees , consultants and temporary staff ) . .
|$ in millions|year ended december 2015|year ended december 2014|year ended december 2013|
|compensation and benefits|$ 12678|$ 12691|$ 12613|
|brokerage clearing exchange anddistribution fees|2576|2501|2341|
|market development|557|549|541|
|communications and technology|806|779|776|
|depreciation and amortization|991|1337|1322|
|occupancy|772|827|839|
|professional fees|963|902|930|
|insurance reserves1|2014|2014|176|
|other expenses2|5699|2585|2931|
|total non-compensation expenses|12364|9480|9856|
|total operating expenses|$ 25042|$ 22171|$ 22469|
|total staff at period-end|36800|34000|32900|
1 . consists of changes in reserves related to our americas reinsurance business , including interest credited to policyholder account balances , and expenses related to property catastrophe reinsurance claims . in april 2013 , we completed the sale of a majority stake in our americas reinsurance business and no longer consolidate this business . 2 . includes provisions of $ 3.37 billion recorded during 2015 for the agreement in principle with the rmbs working group . see note 27 to the consolidated financial statements for further information about this agreement in principle . 2015 versus 2014 . operating expenses on the consolidated statements of earnings were $ 25.04 billion for 2015 , 13% ( 13 % ) higher than 2014 . compensation and benefits expenses on the consolidated statements of earnings were $ 12.68 billion for 2015 , essentially unchanged compared with 2014 . the ratio of compensation and benefits to net revenues for 2015 was 37.5% ( 37.5 % ) compared with 36.8% ( 36.8 % ) for 2014 . total staff increased 8% ( 8 % ) during 2015 , primarily due to activity levels in certain businesses and continued investment in regulatory compliance . non-compensation expenses on the consolidated statements of earnings were $ 12.36 billion for 2015 , 30% ( 30 % ) higher than 2014 , due to significantly higher net provisions for mortgage-related litigation and regulatory matters , which are included in other expenses . this increase was partially offset by lower depreciation and amortization expenses , primarily reflecting lower impairment charges related to consolidated investments , and a reduction in expenses related to the sale of metro in the fourth quarter of 2014 . net provisions for litigation and regulatory proceedings for 2015 were $ 4.01 billion compared with $ 754 million for 2014 ( both primarily comprised of net provisions for mortgage-related matters ) . 2015 included a $ 148 million charitable contribution to goldman sachs gives , our donor-advised fund . compensation was reduced to fund this charitable contribution to goldman sachs gives . the firm asks its participating managing directors to make recommendations regarding potential charitable recipients for this contribution . 2014 versus 2013 . operating expenses on the consolidated statements of earnings were $ 22.17 billion for 2014 , essentially unchanged compared with 2013 . compensation and benefits expenses on the consolidated statements of earnings were $ 12.69 billion for 2014 , essentially unchanged compared with 2013 . the ratio of compensation and benefits to net revenues for 2014 was 36.8% ( 36.8 % ) compared with 36.9% ( 36.9 % ) for 2013 . total staff increased 3% ( 3 % ) during 2014 . non-compensation expenses on the consolidated statements of earnings were $ 9.48 billion for 2014 , 4% ( 4 % ) lower than 2013 . the decrease compared with 2013 included a decrease in other expenses , due to lower net provisions for litigation and regulatory proceedings and lower operating expenses related to consolidated investments , as well as a decline in insurance reserves , reflecting the sale of our americas reinsurance business in 2013 . these decreases were partially offset by an increase in brokerage , clearing , exchange and distribution fees . net provisions for litigation and regulatory proceedings for 2014 were $ 754 million compared with $ 962 million for 2013 ( both primarily comprised of net provisions for mortgage-related matters ) . 2014 included a charitable contribution of $ 137 million to goldman sachs gives , our donor-advised fund . compensation was reduced to fund this charitable contribution to goldman sachs gives . the firm asks its participating managing directors to make recommendations regarding potential charitable recipients for this contribution . 58 goldman sachs 2015 form 10-k .
Question: what portion of the total operating expense is related to compensation and benefits in 2015?
Answer: | 0.50627 |
FINQA3677 | Please answer the given financial question based on the context.
Context: the regulatory credit resulting from reduction of the federal corporate income tax rate variance is due to the reduction of the vidalia purchased power agreement regulatory liability by $ 30.5 million and the reduction of the louisiana act 55 financing savings obligation regulatory liabilities by $ 25 million as a result of the enactment of the tax cuts and jobs act , in december 2017 , which lowered the federal corporate income tax rate from 35% ( 35 % ) to 21% ( 21 % ) . the effects of the tax cuts and jobs act are discussed further in note 3 to the financial statements . the grand gulf recovery variance is primarily due to increased recovery of higher operating costs . the louisiana act 55 financing savings obligation variance results from a regulatory charge in 2016 for tax savings to be shared with customers per an agreement approved by the lpsc . the tax savings resulted from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike . see note 3 to the financial statements for additional discussion of the settlement and benefit sharing . the volume/weather variance is primarily due to the effect of less favorable weather on residential and commercial sales , partially offset by an increase in industrial usage . the increase in industrial usage is primarily due to new customers in the primary metals industry and expansion projects and an increase in demand for existing customers in the chlor-alkali industry . entergy wholesale commodities following is an analysis of the change in net revenue comparing 2017 to 2016 . amount ( in millions ) .
||amount ( in millions )|
|2016 net revenue|$ 1542|
|fitzpatrick sale|-158 ( 158 )|
|nuclear volume|-89 ( 89 )|
|fitzpatrick reimbursement agreement|57|
|nuclear fuel expenses|108|
|other|9|
|2017 net revenue|$ 1469|
as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 73 million in 2017 primarily due to the absence of net revenue from the fitzpatrick plant after it was sold to exelon in march 2017 and lower volume in the entergy wholesale commodities nuclear fleet resulting from more outage days in 2017 as compared to 2016 . the decrease was partially offset by an increase resulting from the reimbursement agreement with exelon pursuant to which exelon reimbursed entergy for specified out-of-pocket costs associated with preparing for the refueling and operation of fitzpatrick that otherwise would have been avoided had entergy shut down fitzpatrick in january 2017 and a decrease in nuclear fuel expenses primarily related to the impairments of the indian point 2 , indian point 3 , and palisades plants and related assets . revenues received from exelon in 2017 under the reimbursement agreement are offset by other operation and maintenance expenses and taxes other than income taxes and had no effect on net income . see note 14 to the financial statements for discussion of the sale of fitzpatrick , the reimbursement agreement with exelon , and the impairments and related charges . entergy corporation and subsidiaries management 2019s financial discussion and analysis .
Question: what is the net change in net revenue during 2017?
Answer: | -73.0 |
FINQA3678 | Please answer the given financial question based on the context.
Context: table of contents performance graph the following performance graph shows the cumulative total return to a holder of the company 2019s common stock , assuming dividend reinvestment , compared with the cumulative total return , assuming dividend reinvestment , of the standard & poor ( "s&p" ) 500 index and the dow jones us financials index during the period from december 31 , 2010 through december 31 , 2015. .
||12/10|12/11|12/12|12/13|12/14|12/15|
|e*trade financial corporation|100.00|49.75|55.94|122.75|151.59|185.25|
|s&p 500 index|100.00|102.11|118.45|156.82|178.29|180.75|
|dow jones us financials index|100.00|87.16|110.56|148.39|170.04|170.19|
.
Question: what was the difference in percentage cumulative total return for e*trade financial corporation and the s&p 500 index for the five years ended 12/15?
Answer: | 0.045 |
FINQA3679 | Please answer the given financial question based on the context.
Context: the breakdown of aes 2019s gross margin for the years ended december 31 , 2000 and 1999 , based on the geographic region in which they were earned , is set forth below. .
|north america|2000 $ 844 million|% ( % ) of revenue 25% ( 25 % )|1999 $ 649 million|% ( % ) of revenue 32% ( 32 % )|% ( % ) change 30% ( 30 % )|
|south america|$ 416 million|36% ( 36 % )|$ 232 million|28% ( 28 % )|79% ( 79 % )|
|caribbean*|$ 226 million|21% ( 21 % )|$ 75 million|24% ( 24 % )|201% ( 201 % )|
|europe/africa|$ 371 million|29% ( 29 % )|$ 124 million|29% ( 29 % )|199% ( 199 % )|
|asia|$ 138 million|22% ( 22 % )|$ 183 million|37% ( 37 % )|( 26% ( 26 % ) )|
* includes venezuela and colombia . selling , general and administrative expenses selling , general and administrative expenses increased $ 11 million , or 15% ( 15 % ) , to $ 82 million in 2000 from $ 71 million in 1999 . selling , general and administrative expenses as a percentage of revenues remained constant at 1% ( 1 % ) in both 2000 and 1999 . the increase is due to an increase in business development activities . interest expense , net net interest expense increased $ 506 million , or 80% ( 80 % ) , to $ 1.1 billion in 2000 from $ 632 million in 1999 . interest expense as a percentage of revenues remained constant at 15% ( 15 % ) in both 2000 and 1999 . interest expense increased primarily due to the interest at new businesses , including drax , tiete , cilcorp and edc , as well as additional corporate interest costs resulting from the senior debt and convertible securities issued within the past two years . other income , net other income increased $ 16 million , or 107% ( 107 % ) , to $ 31 million in 2000 from $ 15 million in 1999 . other income includes foreign currency transaction gains and losses as well as other non-operating income . the increase in other income is due primarily to a favorable legal judgment and the sale of development projects . severance and transaction costs during the fourth quarter of 2000 , the company incurred approximately $ 79 million of transaction and contractual severance costs related to the acquisition of ipalco . gain on sale of assets during 2000 , ipalco sold certain assets ( 2018 2018thermal assets 2019 2019 ) for approximately $ 162 million . the transaction resulted in a gain to the company of approximately $ 31 million . of the net proceeds , $ 88 million was used to retire debt specifically assignable to the thermal assets . during 1999 , the company recorded a $ 29 million gain ( before extraordinary loss ) from the buyout of its long-term power sales agreement at placerita . the company received gross proceeds of $ 110 million which were offset by transaction related costs of $ 19 million and an impairment loss of $ 62 million to reduce the carrying value of the electric generation assets to their estimated fair value after termination of the contract . the estimated fair value was determined by an independent appraisal . concurrent with the buyout of the power sales agreement , the company repaid the related non-recourse debt prior to its scheduled maturity and recorded an extraordinary loss of $ 11 million , net of income taxes. .
Question: what was the gross margin change in basis points for south america?
Answer: | 80.0 |
FINQA3680 | Please answer the given financial question based on the context.
Context: humana inc . notes to consolidated financial statements 2014 ( continued ) 15 . stockholders 2019 equity dividends the following table provides details of dividend payments , excluding dividend equivalent rights , in 2016 , 2017 , and 2018 under our board approved quarterly cash dividend policy : payment amount per share amount ( in millions ) .
|paymentdate|amountper share|totalamount ( in millions )|
|2016|$ 1.16|$ 172|
|2017|$ 1.49|$ 216|
|2018|$ 1.90|$ 262|
on november 2 , 2018 , the board declared a cash dividend of $ 0.50 per share that was paid on january 25 , 2019 to stockholders of record on december 31 , 2018 , for an aggregate amount of $ 68 million . declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change . in february 2019 , the board declared a cash dividend of $ 0.55 per share payable on april 26 , 2019 to stockholders of record on march 29 , 2019 . stock repurchases our board of directors may authorize the purchase of our common shares . under our share repurchase authorization , shares may have been purchased from time to time at prevailing prices in the open market , by block purchases , through plans designed to comply with rule 10b5-1 under the securities exchange act of 1934 , as amended , or in privately-negotiated transactions ( including pursuant to accelerated share repurchase agreements with investment banks ) , subject to certain regulatory restrictions on volume , pricing , and timing . on february 14 , 2017 , our board of directors authorized the repurchase of up to $ 2.25 billion of our common shares expiring on december 31 , 2017 , exclusive of shares repurchased in connection with employee stock plans . on february 16 , 2017 , we entered into an accelerated share repurchase agreement , the february 2017 asr , with goldman , sachs & co . llc , or goldman sachs , to repurchase $ 1.5 billion of our common stock as part of the $ 2.25 billion share repurchase authorized on february 14 , 2017 . on february 22 , 2017 , we made a payment of $ 1.5 billion to goldman sachs from available cash on hand and received an initial delivery of 5.83 million shares of our common stock from goldman sachs based on the then current market price of humana common stock . the payment to goldman sachs was recorded as a reduction to stockholders 2019 equity , consisting of a $ 1.2 billion increase in treasury stock , which reflected the value of the initial 5.83 million shares received upon initial settlement , and a $ 300 million decrease in capital in excess of par value , which reflected the value of stock held back by goldman sachs pending final settlement of the february 2017 asr . upon settlement of the february 2017 asr on august 28 , 2017 , we received an additional 0.84 million shares as determined by the average daily volume weighted-average share price of our common stock during the term of the agreement of $ 224.81 , less a discount and subject to adjustments pursuant to the terms and conditions of the february 2017 asr , bringing the total shares received under this program to 6.67 million . in addition , upon settlement we reclassified the $ 300 million value of stock initially held back by goldman sachs from capital in excess of par value to treasury stock . subsequent to settlement of the february 2017 asr , we repurchased an additional 3.04 million shares in the open market , utilizing the remaining $ 750 million of the $ 2.25 billion authorization prior to expiration . on december 14 , 2017 , our board of directors authorized the repurchase of up to $ 3.0 billion of our common shares expiring on december 31 , 2020 , exclusive of shares repurchased in connection with employee stock plans. .
Question: considering the years 2017-2018 , what is the increase observed in payment amount per share?
Answer: | 0.27517 |
FINQA3681 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis net revenues in equities were $ 8.26 billion for 2011 , 2% ( 2 % ) higher than 2010 . during 2011 , average volatility levels increased and equity prices in europe and asia declined significantly , particularly during the third quarter . the increase in net revenues reflected higher commissions and fees , primarily due to higher market volumes , particularly during the third quarter of 2011 . in addition , net revenues in securities services increased compared with 2010 , reflecting the impact of higher average customer balances . equities client execution net revenues were lower than 2010 , primarily reflecting significantly lower net revenues in shares . the net gain attributable to the impact of changes in our own credit spreads on borrowings for which the fair value option was elected was $ 596 million ( $ 399 million and $ 197 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2011 , compared with a net gain of $ 198 million ( $ 188 million and $ 10 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2010 . institutional client services operated in an environment generally characterized by increased concerns regarding the weakened state of global economies , including heightened european sovereign debt risk , and its impact on the european banking system and global financial institutions . these conditions also impacted expectations for economic prospects in the united states and were reflected in equity and debt markets more broadly . in addition , the downgrade in credit ratings of the u.s . government and federal agencies and many financial institutions during the second half of 2011 contributed to further uncertainty in the markets . these concerns , as well as other broad market concerns , such as uncertainty over financial regulatory reform , continued to have a negative impact on our net revenues during 2011 . operating expenses were $ 12.84 billion for 2011 , 14% ( 14 % ) lower than 2010 , due to decreased compensation and benefits expenses , primarily resulting from lower net revenues , lower net provisions for litigation and regulatory proceedings ( 2010 included $ 550 million related to a settlement with the sec ) , the impact of the u.k . bank payroll tax during 2010 , as well as an impairment of our nyse dmm rights of $ 305 million during 2010 . these decreases were partially offset by higher brokerage , clearing , exchange and distribution fees , principally reflecting higher transaction volumes in equities . pre-tax earnings were $ 4.44 billion in 2011 , 35% ( 35 % ) lower than 2010 . investing & lending investing & lending includes our investing activities and the origination of loans to provide financing to clients . these investments and loans are typically longer-term in nature . we make investments , directly and indirectly through funds that we manage , in debt securities and loans , public and private equity securities , real estate , consolidated investment entities and power generation facilities . the table below presents the operating results of our investing & lending segment. .
|in millions|year ended december 2012|year ended december 2011|year ended december 2010|
|icbc|$ 408|$ -517 ( 517 )|$ 747|
|equity securities ( excluding icbc )|2392|1120|2692|
|debt securities and loans|1850|96|2597|
|other|1241|1443|1505|
|total net revenues|5891|2142|7541|
|operating expenses|2666|2673|3361|
|pre-tax earnings/ ( loss )|$ 3225|$ -531 ( 531 )|$ 4180|
2012 versus 2011 . net revenues in investing & lending were $ 5.89 billion and $ 2.14 billion for 2012 and 2011 , respectively . during 2012 , investing & lending net revenues were positively impacted by tighter credit spreads and an increase in global equity prices . results for 2012 included a gain of $ 408 million from our investment in the ordinary shares of icbc , net gains of $ 2.39 billion from other investments in equities , primarily in private equities , net gains and net interest income of $ 1.85 billion from debt securities and loans , and other net revenues of $ 1.24 billion , principally related to our consolidated investment entities . if equity markets decline or credit spreads widen , net revenues in investing & lending would likely be negatively impacted . operating expenses were $ 2.67 billion for 2012 , essentially unchanged compared with 2011 . pre-tax earnings were $ 3.23 billion in 2012 , compared with a pre-tax loss of $ 531 million in 2011 . goldman sachs 2012 annual report 55 .
Question: between the years ended december 2011 and 2012 , what was the decrease in millions in icbc?
Answer: | 1264.0 |
FINQA3682 | Please answer the given financial question based on the context.
Context: equity compensation plan information the following table presents the equity securities available for issuance under our equity compensation plans as of december 31 , 2014 . equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights ( 2 ) number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1955024 $ 36.06 4078093 equity compensation plans not approved by security holders ( 3 ) 2014 2014 2014 .
|plan category|number of securities to be issued upon exercise of outstanding options warrants and rights ( 1 ) ( a ) ( b )|weighted-average exercise price of outstanding optionswarrants and rights ( 2 )|number of securities remaining available for future issuance under equity compensation plans ( excluding securitiesreflected in column ( a ) ) ( c )|
|equity compensation plans approved by security holders|1955024|$ 36.06|4078093|
|equity compensation plans not approved by security holders ( 3 )|2014|2014|2014|
|total|1955024|$ 36.06|4078093|
( 1 ) includes grants made under the huntington ingalls industries , inc . 2012 long-term incentive stock plan ( the "2012 plan" ) , which was approved by our stockholders on may 2 , 2012 , and the huntington ingalls industries , inc . 2011 long-term incentive stock plan ( the "2011 plan" ) , which was approved by the sole stockholder of hii prior to its spin-off from northrop grumman corporation . of these shares , 644321 were subject to stock options , 539742 were subject to outstanding restricted performance stock rights , and 63022 were stock rights granted under the 2011 plan . in addition , this number includes 33571 stock rights , 11046 restricted stock rights and 663322 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement . ( 2 ) this is the weighted average exercise price of the 644321 outstanding stock options only . ( 3 ) there are no awards made under plans not approved by security holders . item 13 . certain relationships and related transactions , and director independence information as to certain relationships and related transactions and director independence will be incorporated herein by reference to the proxy statement for our 2015 annual meeting of stockholders to be filed within 120 days after the end of the company 2019s fiscal year . item 14 . principal accountant fees and services information as to principal accountant fees and services will be incorporated herein by reference to the proxy statement for our 2015 annual meeting of stockholders to be filed within 120 days after the end of the company 2019s fiscal year . this proof is printed at 96% ( 96 % ) of original size this line represents final trim and will not print .
Question: at the weighted average price given what is the value of the number of securities to be issued
Answer: | 70498165.44 |
FINQA3683 | 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 , how much did refined product sales increase from 2005 to 2007?
Answer: | 25366.2 |
FINQA3684 | Please answer the given financial question based on the context.
Context: currencies of major industrial countries . we may also enter into foreign currency option contracts to hedge anticipated transactions where there is a high probability that anticipated exposures will materialize . the foreign currency forward contracts entered into to hedge antici- pated transactions have been designated as foreign currency cash-flow hedges and have varying maturities through the end of march 2015 . hedge effectiveness of foreign currency forward contracts is based on a hypo- thetical derivative methodology and excludes the portion of fair value attributable to the spot-forward difference which is recorded in current-period earnings . hedge effectiveness of foreign currency option contracts is based on a dollar offset methodology . the ineffective portion of both foreign currency forward and option con- tracts is recorded in current-period earnings . for hedge contracts that are no longer deemed highly effective , hedge accounting is discontinued and gains and losses accumulated in other comprehensive income ( loss ) are reclassified to earnings when the underlying forecasted transaction occurs . if it is probable that the forecasted transaction will no longer occur , then any gains or losses in accumulated other comprehensive income ( loss ) are reclassified to current-period earnings . as of june 30 , 2013 , these foreign currency cash-flow hedges were highly effective in all material respects . at june 30 , 2013 , we had foreign currency forward contracts in the amount of $ 1579.6 million . the foreign currencies included in foreign currency forward contracts ( notional value stated in u.s . dollars ) are principally the british pound ( $ 426.2 million ) , euro ( $ 268.8 million ) , canadian dollar ( $ 198.6 million ) , swiss franc ( $ 111.5 mil- lion ) , australian dollar ( $ 92.1 million ) , thailand baht ( $ 75.5 million ) and hong kong dollar ( $ 58.1 million ) . credit risk as a matter of policy , we only enter into derivative con- tracts with counterparties that have a long-term credit rat- ing of at least a- or higher by at least two nationally recognized rating agencies . the counterparties to these contracts are major financial institutions . exposure to credit risk in the event of nonperformance by any of the counterparties is limited to the gross fair value of con- tracts in asset positions , which totaled $ 21.7 million at june 30 , 2013 . to manage this risk , we have established counterparty credit guidelines that are continually moni- tored . accordingly , management believes risk of loss under these hedging contracts is remote . certain of our derivative financial instruments contain credit-risk-related contingent features . at june 30 , 2013 , we were in a net asset position for certain derivative contracts that contain such features with two counter- parties . the fair value of those contracts as of june 30 , 2013 was approximately $ 4.6 million . as of june 30 , 2013 , we were in compliance with such credit-risk-related contingent features . market risk we use a value-at-risk model to assess the market risk of our derivative financial instruments . value-at-risk repre- sents the potential losses for an instrument or portfolio from adverse changes in market factors for a specified time period and confidence level . we estimate value-at- risk across all of our derivative financial instruments using a model with historical volatilities and correlations calcu- lated over the past 250-day period . the high , low and average measured value-at-risk during fiscal 2013 related to our foreign exchange contracts is as follows: .
|( in millions )|year ended june 30 2013 high|year ended june 30 2013 low|year ended june 30 2013 average|
|foreign exchange contracts|$ 24.5|$ 19.1|$ 21.9|
foreign exchange contracts $ 24.5 $ 19.1 $ 21.9 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 . the est{e lauder companies inc . 135 .
Question: considering the year 2013 , what is the variation between the fair value of the foreign exchange contracts and its high measured value-at-risk?
Answer: | 19.9 |
FINQA3685 | Please answer the given financial question based on the context.
Context: 2022 lower 2008 storage margins related to storage risk management positions and the impact of changes in natural gas prices on these positions ; and 2022 fewer opportunities to optimize storage capacity due to the significant decline in natural gas prices in the second half of 2008 ; o a decrease of $ 9.7 million in physical storage margins due to a lower of cost or market write-down on natural gas inventory ; and o a decrease of $ 2.1 million due to colder than anticipated weather and market conditions that increased the supply cost of managing our peaking and load-following services and provided fewer opportunities to increase margins through optimization activities , primarily in the first quarter of 2008 ; partially offset by o an increase of $ 15.8 million from changes in the unrealized fair value of derivative instruments associated with storage and marketing activities and improved marketing margins , which benefited from price movements and optimization activities . operating costs decreased primarily due to lower employee-related costs and depreciation expense . 2007 vs . 2006 - net margin decreased primarily due to : 2022 a decrease of $ 22.0 million in transportation margins , net of hedging activities , associated with changes in the unrealized fair value of derivative instruments and the impact of a force majeure event on the cheyenne plains gas pipeline , as more fully described below ; 2022 a decrease of $ 5.0 million in retail activities from lower physical margins due to market conditions and increased competition ; 2022 a decrease of $ 4.3 million in financial trading margins that was partially offset by 2022 an increase of $ 4.9 million in storage and marketing margins , net of hedging activities , related to : o an increase in physical storage margins , net of hedging activity , due to higher realized seasonal storage spreads and optimization activities ; partially offset by o a decrease in marketing margins ; and o a net increase in the cost associated with managing our peaking and load following services , slightly offset by higher demand fees collected for these services . in september 2007 , a portion of the volume contracted under our firm transportation agreement with cheyenne plains gas pipeline company was curtailed due to a fire at a cheyenne plains pipeline compressor station . the fire damaged a significant amount of instrumentation and electrical wiring , causing cheyenne plains gas pipeline company to declare a force majeure event on the pipeline . this firm commitment was hedged in accordance with statement 133 . the discontinuance of fair value hedge accounting on the portion of the firm commitment that was impacted by the force majeure event resulted in a loss of approximately $ 5.5 million that was recognized in the third quarter of 2007 , of which $ 2.4 million of insurance proceeds were recovered and recognized in the first quarter of 2008 . cheyenne plains gas pipeline company resumed full operations in november 2007 . operating costs decreased primarily due to decreased legal and employee-related costs , and reduced ad-valorem tax expense . selected operating information - the following table sets forth certain selected operating information for our energy services segment for the periods indicated. .
|operating information|years ended december 31 , 2008|years ended december 31 , 2007|years ended december 31 , 2006|
|natural gas marketed ( bcf )|1160|1191|1132|
|natural gas gross margin ( $ /mcf )|$ 0.07|$ 0.19|$ 0.22|
|physically settled volumes ( bcf )|2359|2370|2288|
our natural gas in storage at december 31 , 2008 , was 81.9 bcf , compared with 66.7 bcf at december 31 , 2007 . at december 31 , 2008 , our total natural gas storage capacity under lease was 91 bcf , compared with 96 bcf at december 31 , natural gas volumes marketed decreased slightly during 2008 , compared with 2007 , due to increased injections in the third quarter of 2008 . in addition , demand for natural gas was impacted by weather-related events in the third quarter of 2008 , including a 15 percent decrease in cooling degree-days and demand disruption caused by hurricane ike. .
Question: what was the percentage change in natural gas gross margin ( $ /mcf ) between 2007 and 2008?
Answer: | -0.63158 |
FINQA3686 | Please answer the given financial question based on the context.
Context: part iii item 10 . directors , executive officers and corporate governance for the information required by this item 10 , other than information with respect to our executive officers contained at the end of item 1 of this report , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection 16 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . the proxy statement for our 2015 annual meeting will be filed within 120 days of the close of our fiscal year . for the information required by this item 10 with respect to our executive officers , see part i of this report on pages 11 - 12 . item 11 . executive compensation for the information required by this item 11 , see 201cexecutive compensation , 201d 201ccompensation committee report on executive compensation 201d and 201ccompensation committee interlocks and insider participation 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . item 12 . security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item 12 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . the following table sets forth certain information as of december 31 , 2014 regarding our equity plans : 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 ) ( b ) ( c ) equity compensation plans approved by security holders 1233672 $ 75.93 4903018 item 13 . certain relationships and related transactions , and director independence for the information required by this item 13 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . item 14 . principal accounting fees and services for the information required by this item 14 , see 201caudit and non-audit fees 201d and 201cpolicy on audit committee pre- approval of audit and non-audit services of independent registered public accounting firm 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference. .
|plan category|number of securitiesto be issued uponexercise ofoutstanding options warrants and rights ( a ) ( b )|weighted-averageexercise price ofoutstanding options warrants and rights|number of securitiesremaining available forfuture issuance underequity compensationplans ( excludingsecurities reflected in column ( a ) ) ( c )|
|equity compensation plans approved by security holders|1233672|$ 75.93|4903018|
part iii item 10 . directors , executive officers and corporate governance for the information required by this item 10 , other than information with respect to our executive officers contained at the end of item 1 of this report , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection 16 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . the proxy statement for our 2015 annual meeting will be filed within 120 days of the close of our fiscal year . for the information required by this item 10 with respect to our executive officers , see part i of this report on pages 11 - 12 . item 11 . executive compensation for the information required by this item 11 , see 201cexecutive compensation , 201d 201ccompensation committee report on executive compensation 201d and 201ccompensation committee interlocks and insider participation 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . item 12 . security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item 12 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . the following table sets forth certain information as of december 31 , 2014 regarding our equity plans : 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 ) ( b ) ( c ) equity compensation plans approved by security holders 1233672 $ 75.93 4903018 item 13 . certain relationships and related transactions , and director independence for the information required by this item 13 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . item 14 . principal accounting fees and services for the information required by this item 14 , see 201caudit and non-audit fees 201d and 201cpolicy on audit committee pre- approval of audit and non-audit services of independent registered public accounting firm 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference. .
Question: what portion of the total number of securities approved by the security holders remains available for future issuance?
Answer: | 0.79897 |
FINQA3687 | Please answer the given financial question based on the context.
Context: note 15 financial derivatives we use derivative financial instruments ( derivatives ) primarily to help manage exposure to interest rate , market and credit risk and reduce the effects that changes in interest rates may have on net income , the fair value of assets and liabilities , and cash flows . we also enter into derivatives with customers to facilitate their risk management activities . derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract . derivative transactions are often measured in terms of notional amount , but this amount is generally not exchanged and it is not recorded on the balance sheet . the notional amount is the basis to which the underlying is applied to determine required payments under the derivative contract . the underlying is a referenced interest rate ( commonly libor ) , security price , credit spread or other index . residential and commercial real estate loan commitments associated with loans to be sold also qualify as derivative instruments . the following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by pnc : table 124 : total gross derivatives .
|in millions|december 31 2014 notional/contractamount|december 31 2014 assetfairvalue ( a )|december 31 2014 liabilityfairvalue ( b )|december 31 2014 notional/contractamount|december 31 2014 assetfairvalue ( a )|liabilityfairvalue ( b )|
|derivatives designated as hedging instruments under gaap|$ 49061|$ 1261|$ 186|$ 36197|$ 1189|$ 364|
|derivatives not designated as hedging instruments under gaap|291256|3973|3841|345059|3604|3570|
|total gross derivatives|$ 340317|$ 5234|$ 4027|$ 381256|$ 4793|$ 3934|
( a ) included in other assets on our consolidated balance sheet . ( b ) included in other liabilities on our consolidated balance sheet . all derivatives are carried on our consolidated balance sheet at fair value . derivative balances are presented on the consolidated balance sheet on a net basis taking into consideration the effects of legally enforceable master netting agreements and any related cash collateral exchanged with counterparties . further discussion regarding the rights of setoff associated with these legally enforceable master netting agreements is included in the offsetting , counterparty credit risk , and contingent features section below . our exposure related to risk participations where we sold protection is discussed in the credit derivatives section below . any nonperformance risk , including credit risk , is included in the determination of the estimated net fair value of the derivatives . further discussion on how derivatives are accounted for is included in note 1 accounting policies . derivatives designated as hedging instruments under gaap certain derivatives used to manage interest rate and foreign exchange risk as part of our asset and liability risk management activities are designated as accounting hedges under gaap . derivatives hedging the risks associated with changes in the fair value of assets or liabilities are considered fair value hedges , derivatives hedging the variability of expected future cash flows are considered cash flow hedges , and derivatives hedging a net investment in a foreign subsidiary are considered net investment hedges . designating derivatives as accounting hedges allows for gains and losses on those derivatives , to the extent effective , to be recognized in the income statement in the same period the hedged items affect earnings . the pnc financial services group , inc . 2013 form 10-k 187 .
Question: what percentage of notional contract amount of total gross derivatives at december 31 , 2014 was from derivatives designated as hedging instruments under gaap?
Answer: | 0.14416 |
FINQA3688 | Please answer the given financial question based on the context.
Context: year ended december 31 , 2010 compared to year ended december 31 , 2009 net revenues increased $ 207.5 million , or 24.2% ( 24.2 % ) , to $ 1063.9 million in 2010 from $ 856.4 million in 2009 . net revenues by product category are summarized below: .
|( in thousands )|year ended december 31 , 2010|year ended december 31 , 2009|year ended december 31 , $ change|year ended december 31 , % ( % ) change|
|apparel|$ 853493|$ 651779|$ 201714|30.9% ( 30.9 % )|
|footwear|127175|136224|-9049 ( 9049 )|-6.6 ( 6.6 )|
|accessories|43882|35077|8805|25.1|
|total net sales|1024550|823080|201470|24.5|
|license revenues|39377|33331|6046|18.1|
|total net revenues|$ 1063927|$ 856411|$ 207516|24.2% ( 24.2 % )|
net sales increased $ 201.5 million , or 24.5% ( 24.5 % ) , to $ 1024.6 million in 2010 from $ 823.1 million in 2009 as noted in the table above . the increase in net sales primarily reflects : 2022 $ 88.9 million , or 56.8% ( 56.8 % ) , increase in direct to consumer sales , which includes 19 additional stores in 2010 ; and 2022 unit growth driven by increased distribution and new offerings in multiple product categories , most significantly in our training , base layer , mountain , golf and underwear categories ; partially offset by 2022 $ 9.0 million decrease in footwear sales driven primarily by a decline in running and training footwear sales . license revenues increased $ 6.1 million , or 18.1% ( 18.1 % ) , to $ 39.4 million in 2010 from $ 33.3 million in 2009 . this increase in license revenues was primarily a result of increased sales by our licensees due to increased distribution and continued unit volume growth . we have developed our own headwear and bags , and beginning in 2011 , these products are being sold by us rather than by one of our licensees . gross profit increased $ 120.4 million to $ 530.5 million in 2010 from $ 410.1 million in 2009 . gross profit as a percentage of net revenues , or gross margin , increased 200 basis points to 49.9% ( 49.9 % ) in 2010 compared to 47.9% ( 47.9 % ) in 2009 . the increase in gross margin percentage was primarily driven by the following : 2022 approximate 100 basis point increase driven by increased direct to consumer higher margin sales ; 2022 approximate 50 basis point increase driven by decreased sales markdowns and returns , primarily due to improved sell-through rates at retail ; and 2022 approximate 50 basis point increase driven primarily by liquidation sales and related inventory reserve reversals . the current year period benefited from reversals of inventory reserves established in the prior year relative to certain cleated footwear , sport specific apparel and gloves . these products have historically been more difficult to liquidate at favorable prices . selling , general and administrative expenses increased $ 93.3 million to $ 418.2 million in 2010 from $ 324.9 million in 2009 . as a percentage of net revenues , selling , general and administrative expenses increased to 39.3% ( 39.3 % ) in 2010 from 37.9% ( 37.9 % ) in 2009 . these changes were primarily attributable to the following : 2022 marketing costs increased $ 19.3 million to $ 128.2 million in 2010 from $ 108.9 million in 2009 primarily due to an increase in sponsorship of events and collegiate and professional teams and athletes , increased television and digital campaign costs , including media campaigns for specific customers and additional personnel costs . in addition , we incurred increased expenses for our performance incentive plan as compared to the prior year . as a percentage of net revenues , marketing costs decreased to 12.0% ( 12.0 % ) in 2010 from 12.7% ( 12.7 % ) in 2009 primarily due to decreased marketing costs for specific customers. .
Question: in 2010 what was the percent of the apparel sales as part of the net sales
Answer: | 0.80221 |
FINQA3689 | Please answer the given financial question based on the context.
Context: our consolidated net cash flows used for investing activities were $ 4.2 billion in 2010 , compared with $ 3.2 billion in 2009 . net investing activities for the indicated periods were related primarily to net purchases of fixed maturities and for 2010 included the acquisitions of rain and hail and jerneh insurance berhad . our consolidated net cash flows from financing activities were $ 732 million in 2010 , compared with net cash flows used for financing activities of $ 321 million in 2009 . net cash flows from/used for financing activities in 2010 and 2009 , included dividends paid on our common shares of $ 435 million and $ 388 million , respectively . net cash flows from financing activ- ities in 2010 , included net proceeds of $ 699 million from the issuance of long-term debt , $ 1 billion in reverse repurchase agreements , and $ 300 million in credit facility borrowings . this was partially offset by repayment of $ 659 million in debt and share repurchases settled in 2010 of $ 235 million . for 2009 , net cash flows used for financing activities included net pro- ceeds from the issuance of $ 500 million in long-term debt and the net repayment of debt and reverse repurchase agreements of $ 466 million . both internal and external forces influence our financial condition , results of operations , and cash flows . claim settle- ments , premium levels , and investment returns may be impacted by changing rates of inflation and other economic conditions . in many cases , significant periods of time , ranging up to several years or more , may lapse between the occurrence of an insured loss , the reporting of the loss to us , and the settlement of the liability for that loss . from time to time , we utilize reverse repurchase agreements as a low-cost alternative for short-term funding needs . we use these instruments on a limited basis to address short-term cash timing differences without disrupting our investment portfolio holdings and settle the transactions with future operating cash flows . at december 31 , 2010 , there were $ 1 billion in reverse repurchase agreements outstanding ( refer to short-term debt ) . in addition to cash from operations , routine sales of investments , and financing arrangements , we have agreements with a bank provider which implemented two international multi-currency notional cash pooling programs to enhance cash management efficiency during periods of short-term timing mismatches between expected inflows and outflows of cash by currency . in each program , participating ace entities establish deposit accounts in different currencies with the bank provider and each day the credit or debit balances in every account are notionally translated into a single currency ( u.s . dollars ) and then notionally pooled . the bank extends overdraft credit to any participating ace entity as needed , provided that the overall notionally-pooled balance of all accounts in each pool at the end of each day is at least zero . actual cash balances are not physically converted and are not co-mingled between legal entities . ace entities may incur overdraft balances as a means to address short-term timing mismatches , and any overdraft balances incurred under this program by an ace entity would be guaranteed by ace limited ( up to $ 150 million in the aggregate ) . our revolving credit facility allows for same day drawings to fund a net pool overdraft should participating ace entities withdraw contributed funds from the pool . capital resources capital resources consist of funds deployed or available to be deployed to support our business operations . the following table summarizes the components of our capital resources at december 31 , 2010 , and 2009. .
|( in millions of u.s . dollars except for percentages )|2010|2009|
|short-term debt|$ 1300|$ 161|
|long-term debt|3358|3158|
|total debt|4658|3319|
|trust preferred securities|309|309|
|total shareholders 2019 equity|22974|19667|
|total capitalization|$ 27941|$ 23295|
|ratio of debt to total capitalization|16.7% ( 16.7 % )|14.2% ( 14.2 % )|
|ratio of debt plus trust preferred securities to total capitalization|17.8% ( 17.8 % )|15.6% ( 15.6 % )|
our ratios of debt to total capitalization and debt plus trust preferred securities to total capitalization have increased temporarily due to the increase in short-term debt , as discussed below . we expect that these ratios will decline over the next six to nine months as we repay the short-term debt . we believe our financial strength provides us with the flexibility and capacity to obtain available funds externally through debt or equity financing on both a short-term and long-term basis . our ability to access the capital markets is dependent on , among other things , market conditions and our perceived financial strength . we have accessed both the debt and equity markets from time to time. .
Question: what is the debt-asset ratio for 2010?
Answer: | 0.16857 |
FINQA3690 | Please answer the given financial question based on the context.
Context: the city council 2019s advisors and entergy new orleans . in february 2018 the city council approved the settlement , which deferred cost recovery to the 2018 entergy new orleans rate case , but also stated that an adjustment for 2018-2019 ami costs can be filed in the rate case and that , for all subsequent ami costs , the mechanism to be approved in the 2018 rate case will allow for the timely recovery of such costs . sources of capital entergy new orleans 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt and preferred membership interest issuances ; and 2022 bank financing under new or existing facilities . entergy new orleans may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest rates are favorable . entergy new orleans 2019s receivables from the money pool were as follows as of december 31 for each of the following years. .
|2017|2016|2015|2014|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 12723|$ 14215|$ 15794|$ 442|
see note 4 to the financial statements for a description of the money pool . entergy new orleans has a credit facility in the amount of $ 25 million scheduled to expire in november 2018 . the credit facility allows entergy new orleans to issue letters of credit against $ 10 million of the borrowing capacity of the facility . as of december 31 , 2017 , there were no cash borrowings and a $ 0.8 million letter of credit was outstanding under the facility . in addition , entergy new orleans is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations to miso . a0 as of december 31 , 2017 , a $ 1.4 million letter of credit was outstanding under entergy new orleans 2019s letter of credit a0facility . see note 4 to the financial statements for additional discussion of the credit facilities . entergy new orleans obtained authorization from the ferc through october 2019 for short-term borrowings not to exceed an aggregate amount of $ 150 million at any time outstanding and long-term borrowings and securities issuances . see note 4 to the financial statements for further discussion of entergy new orleans 2019s short-term borrowing limits . the long-term securities issuances of entergy new orleans are limited to amounts authorized not only by the ferc , but also by the city council , and the current city council authorization extends through june 2018 . entergy new orleans , llc and subsidiaries management 2019s financial discussion and analysis state and local rate regulation the rates that entergy new orleans charges for electricity and natural gas significantly influence its financial position , results of operations , and liquidity . entergy new orleans is regulated and the rates charged to its customers are determined in regulatory proceedings . a governmental agency , the city council , is primarily responsible for approval of the rates charged to customers . retail rates see 201calgiers asset transfer 201d below for discussion of the algiers asset transfer . as a provision of the settlement agreement approved by the city council in may 2015 providing for the algiers asset transfer , it was agreed that , with limited exceptions , no action may be taken with respect to entergy new orleans 2019s base rates until rates are implemented .
Question: how much did entergy receive from the money pool between 2014 and 2017 ? ( in thousands $ )
Answer: | 43174.0 |
FINQA3691 | Please answer the given financial question based on the context.
Context: 35% ( 35 % ) due primarily to certain undistributed foreign earnings for which no u.s . taxes are provided because such earnings are intended to be indefinitely reinvested outside the u.s . as of september 29 , 2012 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 4.0 billion , and deferred tax liabilities of $ 14.9 billion . management believes it is more likely than not that forecasted income , including income that may be generated as a result of certain tax planning strategies , together with future reversals of existing taxable temporary differences , will be sufficient to fully recover the deferred tax assets . the company will continue to evaluate the realizability of deferred tax assets quarterly by assessing the need for and amount of a valuation allowance . 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 . all irs audit issues for years prior to 2004 have been resolved . in addition , the company is subject to audits by state , local , and foreign tax authorities . management believes that adequate provisions have 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 taxes in the period such resolution occurs . liquidity and capital resources the following table presents selected financial information and statistics as of and for the years ended september 29 , 2012 , september 24 , 2011 , and september 25 , 2010 ( in millions ) : .
||2012|2011|2010|
|cash cash equivalents and marketable securities|$ 121251|$ 81570|$ 51011|
|accounts receivable net|$ 10930|$ 5369|$ 5510|
|inventories|$ 791|$ 776|$ 1051|
|working capital|$ 19111|$ 17018|$ 20956|
|annual operating cash flow|$ 50856|$ 37529|$ 18595|
as of september 29 , 2012 , the company had $ 121.3 billion in cash , cash equivalents and marketable securities , an increase of $ 39.7 billion or 49% ( 49 % ) from september 24 , 2011 . the principal components of this net increase was the cash generated by operating activities of $ 50.9 billion , which was partially offset by payments for acquisition of property , plant and equipment of $ 8.3 billion , payments for acquisition of intangible assets of $ 1.1 billion and payments of dividends and dividend equivalent rights of $ 2.5 billion . the company 2019s marketable securities investment portfolio is invested primarily in highly-rated securities and its investment policy generally limits the amount of credit exposure to any one issuer . the policy requires investments generally to be investment grade with the objective of minimizing the potential risk of principal loss . as of september 29 , 2012 and september 24 , 2011 , $ 82.6 billion and $ 54.3 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s . dollar-denominated holdings . amounts held by foreign subsidiaries are generally subject to u.s . income taxation on repatriation to the u.s . the company believes its existing balances of cash , cash equivalents and marketable securities will be sufficient to satisfy its working capital needs , capital asset purchases , outstanding commitments , common stock repurchases , dividends on its common stock , and other liquidity requirements associated with its existing operations over the next 12 months . capital assets the company 2019s capital expenditures were $ 10.3 billion during 2012 , consisting of $ 865 million for retail store facilities and $ 9.5 billion for other capital expenditures , including product tooling and manufacturing process .
Question: what was the percentage change in the annual operating cash flow between 2010 and 2011?
Answer: | 1.01823 |
FINQA3692 | 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: if the company lost its contracts with the states of georgia and indiana , what would be the % ( % ) decline in revenue for the year ended december 31 , 2006?
Answer: | 30.0 |
FINQA3693 | Please answer the given financial question based on the context.
Context: system energy resources , inc . management's financial discussion and analysis with syndicated bank letters of credit . in december 2004 , system energy amended these letters of credit and they now expire in may 2009 . system energy may refinance or redeem debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable . all debt and common stock issuances by system energy require prior regulatory approval . debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements . system energy has sufficient capacity under these tests to meet its foreseeable capital needs . system energy has obtained a short-term borrowing authorization from the ferc under which it may borrow , through march 31 , 2010 , up to the aggregate amount , at any one time outstanding , of $ 200 million . see note 4 to the financial statements for further discussion of system energy's short-term borrowing limits . system energy has also obtained an order from the ferc authorizing long-term securities issuances . the current long- term authorization extends through june 2009 . system energy's receivables from the money pool were as follows as of december 31 for each of the following years: .
|2008|2007|2006|2005|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 42915|$ 53620|$ 88231|$ 277287|
in may 2007 , $ 22.5 million of system energy's receivable from the money pool was replaced by a note receivable from entergy new orleans . see note 4 to the financial statements for a description of the money pool . nuclear matters system energy owns and operates grand gulf . system energy is , therefore , subject to the risks related to owning and operating a nuclear plant . these include risks from the use , storage , handling and disposal of high-level and low-level radioactive materials , regulatory requirement changes , including changes resulting from events at other plants , limitations on the amounts and types of insurance commercially available for losses in connection with nuclear operations , and technological and financial uncertainties related to decommissioning nuclear plants at the end of their licensed lives , including the sufficiency of funds in decommissioning trusts . in the event of an unanticipated early shutdown of grand gulf , system energy may be required to provide additional funds or credit support to satisfy regulatory requirements for decommissioning . environmental risks system energy's facilities and operations are subject to regulation by various governmental authorities having jurisdiction over air quality , water quality , control of toxic substances and hazardous and solid wastes , and other environmental matters . management believes that system energy is in substantial compliance with environmental regulations currently applicable to its facilities and operations . because environmental regulations are subject to change , future compliance costs cannot be precisely estimated . critical accounting estimates the preparation of system energy's financial statements in conformity with generally accepted accounting principles requires management to apply appropriate accounting policies and to make estimates and judgments that .
Question: what is the percent change in receivables from the money pool between 2007 and 2008?
Answer: | 0.24945 |
FINQA3694 | Please answer the given financial question based on the context.
Context: operating cash flow from continuing operations for 2017 was $ 2.7 billion , a $ 191 million , or 8 percent increase compared with 2016 , reflecting higher earnings and favorable changes in working capital . operating cash flow from continuing operations of $ 2.5 billion in 2016 was a 23 percent increase compared to $ 2.0 billion in 2015 , as comparisons benefited from income taxes of $ 424 million paid on the gains from divestitures in 2015 . at september 30 , 2017 , operating working capital as a percent of sales increased to 6.6 percent due to higher levels of working capital in the acquired valves & controls business , compared with 5.2 percent and 7.2 percent in 2016 and 2015 , respectively . operating cash flow from continuing operations funded capital expenditures of $ 476 million , dividends of $ 1239 million , common stock purchases of $ 400 million , and was also used to partially pay down debt in 2017 . proceeds of $ 5.1 billion from the sales of the network power systems and power generation , motors and drives businesses funded acquisitions of $ 2990 million , cash used for discontinued operations of $ 778 million and repayments of short-term borrowings and long-term debt of approximately $ 1.3 billion . contributions to pension plans were $ 45 million in 2017 , $ 66 million in 2016 and $ 53 million in 2015 . capital expenditures related to continuing operations were $ 476 million , $ 447 million and $ 588 million in 2017 , 2016 and 2015 , respectively . free cash flow from continuing operations ( operating cash flow less capital expenditures ) was $ 2.2 billion in 2017 , up 8 percent . free cash flow was $ 2.1 billion in 2016 , compared with $ 1.5 billion in 2015 . the company is targeting capital spending of approximately $ 550 million in 2018 . net cash paid in connection with acquisitions was $ 2990 million , $ 132 million and $ 324 million in 2017 , 2016 and 2015 , respectively . proceeds from divestitures not classified as discontinued operations were $ 39 million in 2017 and $ 1812 million in 2015 . dividends were $ 1239 million ( $ 1.92 per share ) in 2017 , compared with $ 1227 million ( $ 1.90 per share ) in 2016 and $ 1269 million ( $ 1.88 per share ) in 2015 . in november 2017 , the board of directors voted to increase the quarterly cash dividend 1 percent , to an annualized rate of $ 1.94 per share . purchases of emerson common stock totaled $ 400 million , $ 601 million and $ 2487 million in 2017 , 2016 and 2015 , respectively , at average per share prices of $ 60.51 , $ 48.11 and $ 57.68 . the board of directors authorized the purchase of up to 70 million common shares in november 2015 , and 56.9 million shares remain available for purchase under this authorization . the company purchased 6.6 million shares in 2017 under the november 2015 authorization . in 2016 , the company purchased 12.5 million shares under a combination of the november 2015 authorization and the remainder of the may 2013 authorization . a total of 43.1 million shares were purchased in 2015 under the may 2013 authorization . leverage/capitalization ( dollars in millions ) 2015 2016 2017 .
|( dollars in millions )|2015|2016|2017|
|total assets|$ 22088|21732|19589|
|long-term debt|$ 4289|4051|3794|
|common stockholders' equity|$ 8081|7568|8718|
|total debt-to-total capital ratio|45.8% ( 45.8 % )|46.7% ( 46.7 % )|34.8% ( 34.8 % )|
|net debt-to-net capital ratio|31.3% ( 31.3 % )|31.3% ( 31.3 % )|15.4% ( 15.4 % )|
|operating cash flow-to-debt ratio|29.8% ( 29.8 % )|37.7% ( 37.7 % )|57.8% ( 57.8 % )|
|interest coverage ratio|20.2x|11.8x|12.6x|
total debt , which includes long-term debt , current maturities of long-term debt , commercial paper and other short-term borrowings , was $ 4.7 billion , $ 6.6 billion and $ 6.8 billion for 2017 , 2016 and 2015 , respectively . during the year , the company repaid $ 250 million of 5.125% ( 5.125 % ) notes that matured in december 2016 . in 2015 , the company issued $ 500 million of 2.625% ( 2.625 % ) notes due december 2021 and $ 500 million of 3.150% ( 3.150 % ) notes due june 2025 , and repaid $ 250 million of 5.0% ( 5.0 % ) notes that matured in december 2014 and $ 250 million of 4.125% ( 4.125 % ) notes that matured in april 2015 . the total debt-to-capital ratio and the net debt-to-net capital ratio ( less cash and short-term investments ) decreased in 2017 due to lower total debt outstanding and higher common stockholders 2019 equity from changes in other comprehensive income . the total debt-to-capital ratio and the net debt-to-net capital ratio ( less cash and short-term investments ) increased in 2016 due to lower common stockholders 2019 equity from share repurchases and changes in other comprehensive income . the operating cash flow from continuing operations-to-debt ratio increased in 2017 primarily due to lower debt in the current year . the operating cash flow from continuing operations-to- debt ratio increased in 2016 primarily due to taxes paid in 2015 on the divestiture gains and lower debt in 2016 . the interest coverage ratio is computed as earnings from continuing operations before income taxes plus interest expense , divided by interest expense . the increase in interest coverage in 2017 reflects lower interest expense in the current year . the decrease in interest coverage in 2016 reflects lower pretax earnings , largely due to the divestiture gains of $ 1039 million in 2015 , and slightly higher interest expense . in april 2014 , the company entered into a $ 3.5 billion five- year revolving backup credit facility with various banks , which replaced the december 2010 $ 2.75 billion facility . the credit facility is maintained to support general corporate purposes , including commercial paper borrowing . the company has not incurred any borrowings under this or previous facilities . the credit facility contains no financial covenants and is not subject to termination based on a change of credit rating or material adverse changes . the facility is unsecured and may be accessed under various interest rate and currency denomination alternatives at the company 2019s option . fees to maintain the facility are immaterial . the company also maintains a universal shelf registration statement on file with the sec under which .
Question: what percentage of total debt was long-term debt in 2017?
Answer: | 0.80723 |
FINQA3695 | Please answer the given financial question based on the context.
Context: cash and cash equivalents - the carrying amounts of cash and cash equivalents approximate fair value due to the short-term nature of these assets , which have original maturity dates of 90 days or less . concentration risk - the company 2019s assets that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents . the company places its cash and cash equivalents with reputable financial institutions and limits the amount of credit exposure with any one of them . the company regularly evaluates the creditworthiness of these financial institutions and minimizes this credit risk by entering into transactions with high- quality counterparties , limiting the exposure to each counterparty , and monitoring the financial condition of its counterparties . in connection with its u.s . government contracts , the company is required to procure certain raw materials , components , and parts from supply sources approved by the u.s . government . only one supplier may exist for certain components and parts required to manufacture the company's products . accounts receivable - accounts receivable include amounts billed and currently due from customers , amounts currently due but unbilled , certain estimated contract change amounts , claims or requests for equitable adjustment in negotiation that are probable of recovery , and amounts retained by the customer pending contract completion . inventoried costs - inventoried costs primarily relate to production costs of contracts in process and company owned raw materials , which are stated at the lower of cost or net realizable value , generally using the average cost method . under the company's u.s . government contracts , the customer asserts title to , or a security interest in , inventories related to such contracts as a result of contract advances , performance-based payments , and progress payments . in accordance with industry practice , inventoried costs are classified as a current asset and include amounts related to contracts having production cycles longer than one year . inventoried costs also include work in process under contracts that recognize revenues using labor dollars as the basis of the percentage-of-completion calculation . these costs represent accumulated contract costs less cost of sales as calculated using the percentage-of-completion method , not in excess of recoverable value . advance payments and billings in excess of revenues - payments received in excess of inventoried costs and revenues are recorded as advance payment liabilities . property , plant , and equipment - depreciable properties owned by the company are recorded at cost and depreciated over the estimated useful lives of individual assets . major improvements are capitalized while expenditures for maintenance , repairs , and minor improvements are expensed . costs incurred for computer software developed or obtained for internal use are capitalized and amortized over the expected useful life of the software , not to exceed nine years . leasehold improvements are amortized over the shorter of their useful lives or the term of the lease . the remaining assets are depreciated using the straight-line method , with the following lives: .
|land improvements|years 2|years -|years 40|
|buildings and improvements|2|-|60|
|capitalized software costs|2|-|9|
|machinery and other equipment|2|-|45|
the company evaluates the recoverability of its property , plant , and equipment when there are changes in economic circumstances or business objectives that indicate the carrying value may not be recoverable . the company's evaluations include estimated future cash flows , profitability , and other factors affecting fair value . as these assumptions and estimates may change over time , it may or may not be necessary to record impairment charges . leases - the company uses its incremental borrowing rate in the assessment of lease classification as capital or operating and defines the initial lease term to include renewal options determined to be reasonably assured . the company conducts operations primarily under operating leases. .
Question: what is the minimum yearly depreciation rate for capitalized software costs?
Answer: | 11.11111 |
FINQA3696 | Please answer the given financial question based on the context.
Context: liquidity monitoring and measurement stress testing liquidity stress testing is performed for each of citi 2019s major entities , operating subsidiaries and/or countries . stress testing and scenario analyses are intended to quantify the potential impact of a liquidity event on the balance sheet and liquidity position , and to identify viable funding alternatives that can be utilized . these scenarios include assumptions about significant changes in key funding sources , market triggers ( such as credit ratings ) , potential uses of funding and political and economic conditions in certain countries . these conditions include expected and stressed market conditions as well as company- specific events . liquidity stress tests are conducted to ascertain potential mismatches between liquidity sources and uses over a variety of time horizons ( overnight , one week , two weeks , one month , three months , one year ) and over a variety of stressed conditions . liquidity limits are set accordingly . to monitor the liquidity of an entity , these stress tests and potential mismatches are calculated with varying frequencies , with several tests performed daily . given the range of potential stresses , citi maintains a series of contingency funding plans on a consolidated basis and for individual entities . these plans specify a wide range of readily available actions for a variety of adverse market conditions or idiosyncratic stresses . short-term liquidity measurement : liquidity coverage ratio ( lcr ) in addition to internal measures that citi has developed for a 30-day stress scenario , citi also monitors its liquidity by reference to the lcr , as calculated pursuant to the u.s . lcr rules . generally , the lcr is designed to ensure that banks maintain an adequate level of hqla to meet liquidity needs under an acute 30-day stress scenario . the lcr is calculated by dividing hqla by estimated net outflows over a stressed 30-day period , with the net outflows determined by applying prescribed outflow factors to various categories of liabilities , such as deposits , unsecured and secured wholesale borrowings , unused lending commitments and derivatives- related exposures , partially offset by inflows from assets maturing within 30 days . banks are required to calculate an add-on to address potential maturity mismatches between contractual cash outflows and inflows within the 30-day period in determining the total amount of net outflows . the minimum lcr requirement is 100% ( 100 % ) , effective january 2017 . in december 2016 , the federal reserve board adopted final rules which require additional disclosures relating to the lcr of large financial institutions , including citi . among other things , the final rules require citi to disclose components of its average hqla , lcr and inflows and outflows each quarter . in addition , the final rules require disclosure of citi 2019s calculation of the maturity mismatch add-on as well as other qualitative disclosures . the effective date for these disclosures is april 1 , 2017 . the table below sets forth the components of citi 2019s lcr calculation and hqla in excess of net outflows for the periods indicated : in billions of dollars dec . 31 , sept . 30 , dec . 31 .
|in billions of dollars|dec . 31 2016|sept . 30 2016|dec . 31 2015|
|hqla|$ 403.7|$ 403.8|$ 389.2|
|net outflows|332.5|335.3|344.4|
|lcr|121% ( 121 % )|120% ( 120 % )|113% ( 113 % )|
|hqla in excess of net outflows|$ 71.3|$ 68.5|$ 44.8|
note : amounts set forth in the table above are presented on an average basis . as set forth in the table above , citi 2019s lcr increased both year-over-year and sequentially . the increase year-over-year was driven by both an increase in hqla and a reduction in net outflows . sequentially , the increase was driven by a slight reduction in net outflows , as hqla remained largely unchanged . long-term liquidity measurement : net stable funding ratio ( nsfr ) in the second quarter of 2016 , the federal reserve board , the fdic and the occ issued a proposed rule to implement the basel iii nsfr requirement . the u.s.-proposed nsfr is largely consistent with the basel committee 2019s final nsfr rules . in general , the nsfr assesses the availability of a bank 2019s stable funding against a required level . a bank 2019s available stable funding would include portions of equity , deposits and long-term debt , while its required stable funding would be based on the liquidity characteristics of its assets , derivatives and commitments . standardized weightings would be required to be applied to the various asset and liabilities classes . the ratio of available stable funding to required stable funding would be required to be greater than 100% ( 100 % ) . while citi believes that it is compliant with the proposed u.s . nsfr rules as of december 31 , 2016 , it will need to evaluate any final version of the rules , which are expected to be released during 2017 . the proposed rules would require full implementation of the u.s . nsfr beginning january 1 , 2018. .
Question: what was the percent of the increase in the high quality liquid assets ( hqla ) for citi from 2015 to 2016
Answer: | 14.5 |
FINQA3697 | Please answer the given financial question based on the context.
Context: the hartford financial services group , inc . notes to consolidated financial statements ( continued ) 5 . investments and derivative instruments ( continued ) collateral arrangements the company enters into various collateral arrangements in connection with its derivative instruments , which require both the pledging and accepting of collateral . as of december 31 , 2011 and 2010 , collateral pledged having a fair value of $ 1.1 billion and $ 790 , respectively , was included in fixed maturities , afs , in the consolidated balance sheets . from time to time , the company enters into secured borrowing arrangements as a means to increase net investment income . the company received cash collateral of $ 33 as of december 31 , 2011 and 2010 . the following table presents the classification and carrying amount of loaned securities and derivative instruments collateral pledged. .
||december 31 2011|december 31 2010|
|fixed maturities afs|$ 1086|$ 823|
|short-term investments|199|2014|
|total collateral pledged|$ 1285|$ 823|
as of december 31 , 2011 and 2010 , the company had accepted collateral with a fair value of $ 2.6 billion and $ 1.5 billion , respectively , of which $ 2.0 billion and $ 1.1 billion , respectively , was cash collateral which was invested and recorded in the consolidated balance sheets in fixed maturities and short-term investments with corresponding amounts recorded in other assets and other liabilities . the company is only permitted by contract to sell or repledge the noncash collateral in the event of a default by the counterparty . as of december 31 , 2011 and 2010 , noncash collateral accepted was held in separate custodial accounts and was not included in the company 2019s consolidated balance sheets . securities on deposit with states the company is required by law to deposit securities with government agencies in states where it conducts business . as of december 31 , 2011 and 2010 , the fair value of securities on deposit was approximately $ 1.6 billion and $ 1.4 billion , respectively. .
Question: what is the change in value of fixed maturities afs from 2010 to 2011 , ( in billions ) ?
Answer: | 263.0 |
FINQA3698 | Please answer the given financial question based on the context.
Context: performance graph the following graph compares the yearly change in the cumulative total stockholder return for our last five full fiscal years , based upon the market price of our common stock , with the cumulative total return on a nasdaq composite index ( u.s . companies ) and a peer group , the nasdaq medical equipment-sic code 3840-3849 index , which is comprised of medical equipment companies , for that period . the performance graph assumes the investment of $ 100 on march 31 , 2006 in our common stock , the nasdaq composite index ( u.s . companies ) and the peer group index , and the reinvestment of any and all dividends. .
||3/31/2006|3/31/2007|3/31/2008|3/31/2009|3/31/2010|3/31/2011|
|abiomed inc|100|105.89|101.86|37.98|80.00|112.64|
|nasdaq composite index|100|103.50|97.41|65.33|102.49|118.86|
|nasdaq medical equipment sic code 3840-3849|100|88.78|84.26|46.12|83.47|91.35|
this graph is not 201csoliciting material 201d under regulation 14a or 14c of the rules promulgated under the securities exchange act of 1934 , is not deemed filed with the securities and exchange commission and is not to be incorporated by reference in any of our filings under the securities act of 1933 , as amended , or the exchange act whether made before or after the date hereof and irrespective of any general incorporation language in any such filing . transfer agent american stock transfer & trust company , 59 maiden lane , new york , ny 10038 , is our stock transfer agent. .
Question: did abiomed inc , outperform the nasdaq medical equipment index?\\n
Answer: | yes |
FINQA3699 | Please answer the given financial question based on the context.
Context: consolidated results of operations year ended december 31 , 2018 compared to year ended december 31 , 2017 net revenues increased $ 203.9 million , or 4.1% ( 4.1 % ) , to $ 5193.2 million in 2018 from $ 4989.2 million in 2017 . net revenues by product category are summarized below: .
|( in thousands )|year ended december 31 , 2018|year ended december 31 , 2017|year ended december 31 , $ change|year ended december 31 , % ( % ) change|
|apparel|$ 3462372|$ 3287121|$ 175251|5.3% ( 5.3 % )|
|footwear|1063175|1037840|25335|2.4|
|accessories|422496|445838|-23342 ( 23342 )|-5.2 ( 5.2 )|
|total net sales|4948043|4770799|177244|3.7|
|license|124785|116575|8210|7.0|
|connected fitness|120357|101870|18487|18.1|
|total net revenues|$ 5193185|$ 4989244|$ 203941|4.1% ( 4.1 % )|
the increase in net sales was driven primarily by : 2022 apparel unit sales growth driven by the train category ; and 2022 footwear unit sales growth , led by the run category . the increase was partially offset by unit sales decline in accessories . license revenues increased $ 8.2 million , or 7.0% ( 7.0 % ) , to $ 124.8 million in 2018 from $ 116.6 million in 2017 . connected fitness revenue increased $ 18.5 million , or 18.1% ( 18.1 % ) , to $ 120.4 million in 2018 from $ 101.9 million in 2017 primarily driven by increased subscribers on our fitness applications . gross profit increased $ 89.1 million to $ 2340.5 million in 2018 from $ 2251.4 million in 2017 . gross profit as a percentage of net revenues , or gross margin , was unchanged at 45.1% ( 45.1 % ) in 2018 compared to 2017 . gross profit percentage was favorably impacted by lower promotional activity , improvements in product cost , lower air freight , higher proportion of international and connected fitness revenue and changes in foreign currency ; these favorable impacts were offset by channel mix including higher sales to our off-price channel and restructuring related charges . with the exception of improvements in product input costs and air freight improvements , we do not expect these trends to have a material impact on the full year 2019 . selling , general and administrative expenses increased $ 82.8 million to $ 2182.3 million in 2018 from $ 2099.5 million in 2017 . as a percentage of net revenues , selling , general and administrative expenses decreased slightly to 42.0% ( 42.0 % ) in 2018 from 42.1% ( 42.1 % ) in 2017 . selling , general and administrative expense was impacted by the following : 2022 marketing costs decreased $ 21.3 million to $ 543.8 million in 2018 from $ 565.1 million in 2017 . this decrease was primarily due to restructuring efforts , resulting in lower compensation and contractual sports marketing . this decrease was partially offset by higher costs in connection with brand marketing campaigns and increased marketing investments with the growth of our international business . as a percentage of net revenues , marketing costs decreased to 10.5% ( 10.5 % ) in 2018 from 11.3% ( 11.3 % ) in 2017 . 2022 other costs increased $ 104.1 million to $ 1638.5 million in 2018 from $ 1534.4 million in 2017 . this increase was primarily due to higher incentive compensation expense and higher costs incurred for the continued expansion of our direct to consumer distribution channel and international business . as a percentage of net revenues , other costs increased to 31.6% ( 31.6 % ) in 2018 from 30.8% ( 30.8 % ) in 2017 . restructuring and impairment charges increased $ 59.1 million to $ 183.1 million from $ 124.0 million in 2017 . refer to the restructuring plans section above for a summary of charges . income ( loss ) from operations decreased $ 52.8 million , or 189.9% ( 189.9 % ) , to a loss of $ 25.0 million in 2018 from income of $ 27.8 million in 2017 . as a percentage of net revenues , income from operations decreased to a loss of 0.4% ( 0.4 % ) in 2018 from income of 0.5% ( 0.5 % ) in 2017 . income from operations for the year ended december 31 , 2018 was negatively impacted by $ 203.9 million of restructuring , impairment and related charges in connection with the 2018 restructuring plan . income from operations for the year ended december 31 , 2017 was negatively impacted by $ 129.1 million of restructuring , impairment and related charges in connection with the 2017 restructuring plan . interest expense , net decreased $ 0.9 million to $ 33.6 million in 2018 from $ 34.5 million in 2017. .
Question: what was connected fitness as a percentage of total net revenue in 2018?
Answer: | 0.02318 |
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