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FINQA4000 | Please answer the given financial question based on the context.
Context: mill in the fourth quarter of 2008 . this compares with 635000 tons of total downtime in 2008 of which 305000 tons were lack-of-order downtime . printing papers in millions 2009 2008 2007 .
|in millions|2009|2008|2007|
|sales|$ 5680|$ 6810|$ 6530|
|operating profit|1091|474|839|
north american printing papers net sales in 2009 were $ 2.8 billion compared with $ 3.4 billion in 2008 and $ 3.5 billion in 2007 . operating earnings in 2009 were $ 746 million ( $ 307 million excluding alter- native fuel mixture credits and plant closure costs ) compared with $ 405 million ( $ 435 million excluding shutdown costs for a paper machine ) in 2008 and $ 415 million in 2007 . sales volumes decreased sig- nificantly in 2009 compared with 2008 reflecting weak customer demand and reduced production capacity resulting from the shutdown of a paper machine at the franklin mill in december 2008 and the conversion of the bastrop mill to pulp production in june 2008 . average sales price realizations were lower reflecting slight declines for uncoated freesheet paper in domestic markets and significant declines in export markets . margins were also unfavorably affected by a higher proportion of shipments to lower-margin export markets . input costs , however , were favorable due to lower wood and chemical costs and sig- nificantly lower energy costs . freight costs were also lower . planned maintenance downtime costs in 2009 were comparable with 2008 . operating costs were favorable , reflecting cost control efforts and strong machine performance . lack-of-order downtime increased to 525000 tons in 2009 , including 120000 tons related to the shutdown of a paper machine at our franklin mill in the 2008 fourth quarter , from 135000 tons in 2008 . operating earnings in 2009 included $ 671 million of alternative fuel mixture cred- its , $ 223 million of costs associated with the shutdown of our franklin mill and $ 9 million of other shutdown costs , while operating earnings in 2008 included $ 30 million of costs for the shutdown of a paper machine at our franklin mill . looking ahead to 2010 , first-quarter sales volumes are expected to increase slightly from fourth-quarter 2009 levels . average sales price realizations should be higher , reflecting the full-quarter impact of sales price increases announced in the fourth quarter for converting and envelope grades of uncoated free- sheet paper and an increase in prices to export markets . however , input costs for wood , energy and chemicals are expected to continue to increase . planned maintenance downtime costs should be lower and operating costs should be favorable . brazil ian papers net sales for 2009 of $ 960 mil- lion increased from $ 950 million in 2008 and $ 850 million in 2007 . operating profits for 2009 were $ 112 million compared with $ 186 million in 2008 and $ 174 million in 2007 . sales volumes increased in 2009 compared with 2008 for both paper and pulp reflect- ing higher export shipments . average sales price realizations were lower due to strong competitive pressures in the brazilian domestic market in the second half of the year , lower export prices and unfavorable foreign exchange rates . margins were unfavorably affected by a higher proportion of lower margin export sales . input costs for wood and chem- icals were favorable , but these benefits were partially offset by higher energy costs . planned maintenance downtime costs were lower , and operating costs were also favorable . earnings in 2009 were adversely impacted by unfavorable foreign exchange effects . entering 2010 , sales volumes are expected to be seasonally lower compared with the fourth quarter of 2009 . profit margins are expected to be slightly higher reflecting a more favorable geographic sales mix and improving sales price realizations in export markets , partially offset by higher planned main- tenance outage costs . european papers net sales in 2009 were $ 1.3 bil- lion compared with $ 1.7 billion in 2008 and $ 1.5 bil- lion in 2007 . operating profits in 2009 of $ 92 million ( $ 115 million excluding expenses associated with the closure of the inverurie mill ) compared with $ 39 mil- lion ( $ 146 million excluding a charge to reduce the carrying value of the fixed assets at the inverurie , scotland mill to their estimated realizable value ) in 2008 and $ 171 million in 2007 . sales volumes in 2009 were lower than in 2008 primarily due to reduced sales of uncoated freesheet paper following the closure of the inverurie mill in 2009 . average sales price realizations decreased significantly in 2009 across most of western europe , but margins increased in poland and russia reflecting the effect of local currency devaluations . input costs were favorable as lower wood costs , particularly in russia , were only partially offset by higher energy costs in poland and higher chemical costs . planned main- tenance downtime costs were higher in 2009 than in 2008 , while manufacturing operating costs were lower . operating profits in 2009 also reflect favorable foreign exchange impacts . looking ahead to 2010 , sales volumes are expected to decline from strong 2009 fourth-quarter levels despite solid customer demand . average sales price realizations are expected to increase over the quar- ter , primarily in eastern europe , as price increases .
Question: north american printing papers net sales where what percent of total printing paper sales in 2008?
Answer: | 0.49927 |
FINQA4001 | 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: how is cash flow of system energy affected by the change in balance of money pool from 2007 to 2008?
Answer: | 10705.0 |
FINQA4002 | Please answer the given financial question based on the context.
Context: edwards lifesciences corporation notes to consolidated financial statements 2014 ( continued ) future minimum lease payments ( including interest ) under noncancelable operating leases and aggregate debt maturities at december 31 , 2004 were as follows ( in millions ) : aggregate operating debt leases maturities 2005*************************************************************** $ 13.1 $ 2014 2006*************************************************************** 11.5 2014 2007*************************************************************** 8.9 2014 2008*************************************************************** 8.0 2014 2009*************************************************************** 7.2 2014 thereafter ********************************************************** 1.1 267.1 total obligations and commitments************************************** $ 49.8 $ 267.1 included in debt at december 31 , 2004 and 2003 were unsecured notes denominated in japanese yen of a57.0 billion ( us$ 67.1 million ) and a56.0 billion ( us$ 55.8 million ) , respectively . certain facilities and equipment are leased under operating leases expiring at various dates . most of the operating leases contain renewal options . total expense for all operating leases was $ 14.0 million , $ 12.3 million , and $ 6.8 million for the years 2004 , 2003 and 2002 , respectively . 11 . financial instruments and risk management fair values of financial instruments the consolidated financial statements include financial instruments whereby the fair market value of such instruments may differ from amounts reflected on a historical basis . financial instruments of the company consist of cash deposits , accounts and other receivables , investments in unconsolidated affiliates , accounts payable , certain accrued liabilities and debt . the fair values of certain investments in unconsolidated affiliates are estimated based on quoted market prices . for other investments , various methods are used to estimate fair value , including external valuations and discounted cash flows . the carrying amount of the company 2019s long-term debt approximates fair market value based on prevailing market rates . the company 2019s other financial instruments generally approximate their fair values based on the short-term nature of these instruments. .
||operating leases|aggregate debt maturities|
|2005|$ 13.1|$ 2014|
|2006|11.5|2014|
|2007|8.9|2014|
|2008|8.0|2014|
|2009|7.2|2014|
|thereafter|1.1|267.1|
|total obligations and commitments|$ 49.8|$ 267.1|
edwards lifesciences corporation notes to consolidated financial statements 2014 ( continued ) future minimum lease payments ( including interest ) under noncancelable operating leases and aggregate debt maturities at december 31 , 2004 were as follows ( in millions ) : aggregate operating debt leases maturities 2005*************************************************************** $ 13.1 $ 2014 2006*************************************************************** 11.5 2014 2007*************************************************************** 8.9 2014 2008*************************************************************** 8.0 2014 2009*************************************************************** 7.2 2014 thereafter ********************************************************** 1.1 267.1 total obligations and commitments************************************** $ 49.8 $ 267.1 included in debt at december 31 , 2004 and 2003 were unsecured notes denominated in japanese yen of a57.0 billion ( us$ 67.1 million ) and a56.0 billion ( us$ 55.8 million ) , respectively . certain facilities and equipment are leased under operating leases expiring at various dates . most of the operating leases contain renewal options . total expense for all operating leases was $ 14.0 million , $ 12.3 million , and $ 6.8 million for the years 2004 , 2003 and 2002 , respectively . 11 . financial instruments and risk management fair values of financial instruments the consolidated financial statements include financial instruments whereby the fair market value of such instruments may differ from amounts reflected on a historical basis . financial instruments of the company consist of cash deposits , accounts and other receivables , investments in unconsolidated affiliates , accounts payable , certain accrued liabilities and debt . the fair values of certain investments in unconsolidated affiliates are estimated based on quoted market prices . for other investments , various methods are used to estimate fair value , including external valuations and discounted cash flows . the carrying amount of the company 2019s long-term debt approximates fair market value based on prevailing market rates . the company 2019s other financial instruments generally approximate their fair values based on the short-term nature of these instruments. .
Question: what was the percentage change in total expense for all operating leases between 2002 and 2003?
Answer: | 0.80882 |
FINQA4003 | Please answer the given financial question based on the context.
Context: page 20 of 100 segment sales were $ 100.7 million lower in 2009 than in 2008 , primarily as a result of the impact of lower aluminum prices partially offset by an increase in sales volumes . the higher sales volumes in 2009 were the result of incremental volumes from the four plants purchased from ab inbev , partially offset by certain plant closures and lower sales volumes in the existing business . segment earnings in 2010 were $ 122.3 million higher than in 2009 primarily due to a net $ 85 million impact related to the higher sales volumes and $ 45 million of product mix and improved manufacturing performance associated with higher production . also adding to the 2010 improvement was the effect of a $ 7 million out-of-period inventory charge in 2009 . the details of the out-of-period adjustment are included in note 7 to the consolidated financial statements included within item 8 of this report . segment earnings in 2009 were higher than in 2008 due to $ 12 million of earnings contribution from the four acquired plants and approximately $ 21 million of savings associated with plant closures . partially offsetting these favorable impacts were lower carbonated soft drink and beer can sales volumes ( excluding the newly acquired plants ) and approximately $ 25 million related to higher cost inventories in the first half of 2009 . metal beverage packaging , europe .
|( $ in millions )|2010|2009|2008|
|net sales|$ 1697.6|$ 1739.5|$ 1868.7|
|segment earnings|$ 212.9|$ 214.8|$ 230.9|
|business consolidation costs ( a )|-3.2 ( 3.2 )|2212|2212|
|total segment earnings|$ 209.7|$ 214.8|$ 230.9|
( a ) further details of these items are included in note 5 to the consolidated financial statements within item 8 of this report . the metal beverage packaging , europe , segment includes metal beverage packaging products manufactured in europe . ball packaging europe has manufacturing plants located in germany , the united kingdom , france , the netherlands , poland and serbia , and is the second largest metal beverage container business in europe . segment sales in 2010 decreased $ 41.9 million compared to 2009 , primarily due to unfavorable foreign exchange effects of $ 93 million and price and mix changes , partially offset by higher sales volumes . segment sales in 2009 as compared to 2008 were $ 129.2 million lower due to $ 110 million of unfavorable foreign exchange effects , partially offset by better commercial terms . sales volumes in 2009 were essentially flat compared to those in the prior year . segment earnings in 2010 decreased $ 1.9 million compared to 2009 , primarily the result of a $ 28 million increase related to higher sales volumes , offset by $ 18 million of negative effects from foreign currency translation and $ 12 million of higher inventory and other costs . while 2009 sales volumes were consistent with the prior year , the adverse effects of foreign currency translation , both within europe and on the conversion of the euro to the u.s . dollar , reduced segment earnings by $ 8 million . also contributing to lower segment earnings were higher cost inventory carried into 2009 and a change in sales mix , partially offset by better commercial terms in some of our contracts . on january 18 , 2011 , ball acquired aerocan s.a.s . ( aerocan ) , a leading european supplier of aluminum aerosol cans and bottles , for 20ac222.4 million ( approximately $ 300 million ) in cash and assumed debt . aerocan manufactures extruded aluminum aerosol cans and bottles , and the aluminum slugs used to make them , for customers in the personal care , pharmaceutical , beverage and food industries . it operates three aerosol can manufacturing plants 2013 one each in the czech republic , france and the united kingdom 2013 and is a 51 percent owner of a joint venture aluminum slug plant in france . the four plants employ approximately 560 people . the acquisition of aerocan will allow ball to enter a growing part of the metal packaging industry and to broaden the company 2019s market development efforts into a new customer base. .
Question: what was the percentage change in net sales metal beverage packaging , europe between 2008 to 2009?
Answer: | -0.06914 |
FINQA4004 | Please answer the given financial question based on the context.
Context: leveraged performance units during fiscal 2015 , certain executives were granted performance units that we refer to as leveraged performance units , or lpus . lpus contain a market condition based on our relative stock price growth over a three-year performance period . the lpus contain a minimum threshold performance which , if not met , would result in no payout . the lpus also contain a maximum award opportunity set as a fixed dollar and fixed number of shares . after the three-year performance period , one-third of any earned units converts to unrestricted common stock . the remaining two-thirds convert to restricted stock that will vest in equal installments on each of the first two anniversaries of the conversion date . we recognize share-based compensation expense based on the grant date fair value of the lpus , as determined by use of a monte carlo model , on a straight-line basis over the requisite service period for each separately vesting portion of the lpu award . total shareholder return units before fiscal 2015 , certain of our executives were granted total shareholder return ( 201ctsr 201d ) units , which are performance-based restricted stock units that are earned based on our total shareholder return over a three-year performance period compared to companies in the s&p 500 . once the performance results are certified , tsr units convert into unrestricted common stock . depending on our performance , the grantee may earn up to 200% ( 200 % ) of the target number of shares . the target number of tsr units for each executive is set by the compensation committee . we recognize share-based compensation expense based on the grant date fair value of the tsr units , as determined by use of a monte carlo model , on a straight-line basis over the vesting period . the following table summarizes the changes in unvested share-based awards for the years ended may 31 , 2016 and 2015 ( shares in thousands ) : shares weighted-average grant-date fair value .
||shares|weighted-averagegrant-datefair value|
|unvested at may 31 2014|1754|$ 22.72|
|granted|954|36.21|
|vested|-648 ( 648 )|23.17|
|forfeited|-212 ( 212 )|27.03|
|unvested at may 31 2015|1848|28.97|
|granted|461|57.04|
|vested|-633 ( 633 )|27.55|
|forfeited|-70 ( 70 )|34.69|
|unvested at may 31 2016|1606|$ 37.25|
including the restricted stock , performance units and tsr units described above , the total fair value of share- based awards vested during the years ended may 31 , 2016 , 2015 and 2014 was $ 17.4 million , $ 15.0 million and $ 28.7 million , respectively . for these share-based awards , we recognized compensation expense of $ 28.8 million , $ 19.8 million and $ 28.2 million in the years ended may 31 , 2016 , 2015 and 2014 , respectively . as of may 31 , 2016 , there was $ 42.6 million of unrecognized compensation expense related to unvested share-based awards that we expect to recognize over a weighted-average period of 1.9 years . our share-based award plans provide for accelerated vesting under certain conditions . employee stock purchase plan we have an employee stock purchase plan under which the sale of 4.8 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 our common stock . the price for shares purchased under the plan is 85% ( 85 % ) of the market value on 84 2013 global payments inc . | 2016 form 10-k annual report .
Question: what was the average unrecognized compensation expense related to unvested share-based per year?
Answer: | 22.42105 |
FINQA4005 | Please answer the given financial question based on the context.
Context: the weighted average grant date fair value of performance-based restricted stock units granted during the years 2008 and 2007 was $ 84.33 and $ 71.72 , respectively . the total fair value of performance-based restricted stock units vested during 2009 , 2008 and 2007 was $ 33712 , $ 49387 and $ 9181 , respectively . at september 30 , 2009 , the weighted average remaining vesting term of performance-based restricted stock units is 1.28 years . time-vested restricted stock units time-vested restricted stock units generally cliff vest three years after the date of grant , except for certain key executives of the company , including the executive officers , for which such units generally vest one year following the employee 2019s retirement . the related share-based compensation expense is recorded over the requisite service period , which is the vesting period or in the case of certain key executives is based on retirement eligibility . the fair value of all time-vested restricted stock units is based on the market value of the company 2019s stock on the date of grant . a summary of time-vested restricted stock units outstanding as of september 30 , 2009 , and changes during the year then ended is as follows : weighted average grant date fair value .
||stock units|weighted average grant date fair value|
|balance at october 1|1570329|$ 69.35|
|granted|618679|62.96|
|distributed|-316839 ( 316839 )|60.32|
|forfeited or canceled|-165211 ( 165211 )|62.58|
|balance at september 30|1706958|$ 69.36|
|expected to vest at september 30|1536262|$ 69.36|
the weighted average grant date fair value of time-vested restricted stock units granted during the years 2008 and 2007 was $ 84.42 and $ 72.20 , respectively . the total fair value of time-vested restricted stock units vested during 2009 , 2008 and 2007 was $ 29535 , $ 26674 and $ 3392 , respectively . at september 30 , 2009 , the weighted average remaining vesting term of the time-vested restricted stock units is 1.71 years . the amount of unrecognized compensation expense for all non-vested share-based awards as of september 30 , 2009 , is approximately $ 97034 , which is expected to be recognized over a weighted-average remaining life of approximately 2.02 years . at september 30 , 2009 , 4295402 shares were authorized for future grants under the 2004 plan . the company has a policy of satisfying share-based payments through either open market purchases or shares held in treasury . at september 30 , 2009 , the company has sufficient shares held in treasury to satisfy these payments in 2010 . other stock plans the company has a stock award plan , which allows for grants of common shares to certain key employees . distribution of 25% ( 25 % ) or more of each award is deferred until after retirement or involuntary termination , upon which the deferred portion of the award is distributable in five equal annual installments . the balance of the award is distributable over five years from the grant date , subject to certain conditions . in february 2004 , this plan was terminated with respect to future grants upon the adoption of the 2004 plan . at september 30 , 2009 and 2008 , awards for 114197 and 161145 shares , respectively , were outstanding . becton , dickinson and company notes to consolidated financial statements 2014 ( continued ) .
Question: in 2009 what was the ratio of the 3 granted to the sum of the distributed and forfeited or canceled shares
Answer: | 1.28343 |
FINQA4006 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2014 ( continued ) owns the remaining 44% ( 44 % ) . we purchased our share of gpap philippines for $ 10.9 million . the purpose of this acquisition was to expand our presence in the asia-pacific market . this business acquisition was not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to this acquisition . the following table summarizes the preliminary purchase price allocation ( in thousands ) : .
|goodwill|$ 6286|
|customer-related intangible assets|3248|
|contract-based intangible assets|952|
|trademark|224|
|property and equipment|300|
|total assets acquired|11010|
|minority interest in equity of subsidiary ( at historical cost )|-132 ( 132 )|
|net assets acquired|$ 10878|
all of the goodwill associated with the acquisition is non-deductible for tax purposes . the customer-related intangible assets have amortization periods of 11 years . the contract-based intangible assets have amortization periods of 7 years . the trademark has an amortization period of 5 years . money transfer branch locations during 2009 , we completed the second and final series of money transfer branch location acquisitions in the united states as part of an assignment and asset purchase agreement with a privately held company . the purpose of this acquisition was to increase the market presence of our dolex-branded money transfer offering . the purchase price of these acquisitions was $ 787 thousand with $ 739 thousand allocated to goodwill and $ 48 thousand allocated to intangibles . pursuant to our annual impairment test in fiscal 2009 , goodwill and other intangibles related to our money transfer business were deemed impaired . please see note 3 2014impairment charges for further information . this business acquisition was not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to this acquisition . fiscal 2008 discover during the year ended may 31 , 2008 , we acquired a portfolio of merchants that process discover transactions and the rights to process discover transactions for our existing and new merchants for $ 6.0 million . the purchase of the portfolio was structured to occur in tranches . during fiscal 2009 , additional tranches were purchased for $ 1.4 million . as a result of this acquisition , we now process discover transactions similarly to how we currently process visa and mastercard transactions . the purpose of this acquisition was to offer merchants a single point of contact for discover , visa and mastercard card processing . the operating results of the acquired portfolio have been included in our consolidated financial statements from the dates of acquisition . the customer-related intangible assets have amortization periods of 10 years . these business acquisitions were not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to these acquisitions. .
Question: what percent of the assets , purchased in the acquisition , are tangible?
Answer: | 11310.0 |
FINQA4007 | Please answer the given financial question based on the context.
Context: performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's compensation survey group and the s&p 500 index . the graph assumes the investment of $ 100 as of december 31 , 2010 , in pmi common stock ( at prices quoted on the new york stock exchange ) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis . date pmi pmi compensation survey group ( 12 ) s&p 500 index .
|date|pmi|pmi compensation survey group ( 12 )|s&p 500 index|
|december 31 2010|$ 100.00|$ 100.00|$ 100.00|
|december 31 2011|$ 139.80|$ 114.10|$ 102.10|
|december 31 2012|$ 154.60|$ 128.00|$ 118.50|
|december 31 2013|$ 167.70|$ 163.60|$ 156.80|
|december 31 2014|$ 164.20|$ 170.10|$ 178.30|
|december 31 2015|$ 186.20|$ 179.20|$ 180.80|
( 1 ) the pmi compensation survey group consists of the following companies with substantial global sales that are direct competitors ; or have similar market capitalization ; or are primarily focused on consumer products ( excluding high technology and financial services ) ; and are companies for which comparative executive compensation data are readily available : bayer ag , british american tobacco p.l.c. , the coca-cola company , diageo plc , glaxosmithkline , heineken n.v. , imperial brands plc ( formerly , imperial tobacco group plc ) , johnson & johnson , mcdonald's corp. , international , inc. , nestl e9 s.a. , novartis ag , pepsico , inc. , pfizer inc. , roche holding ag , unilever nv and plc and vodafone group plc . ( 2 ) on october 1 , 2012 , international , inc . ( nasdaq : mdlz ) , formerly kraft foods inc. , announced that it had completed the spin-off of its north american grocery business , kraft foods group , inc . ( nasdaq : krft ) . international , inc . was retained in the pmi compensation survey group index because of its global footprint . the pmi compensation survey group index total cumulative return calculation weights international , inc.'s total shareholder return at 65% ( 65 % ) of historical kraft foods inc.'s market capitalization on december 31 , 2010 , based on international , inc.'s initial market capitalization relative to the combined market capitalization of international , inc . and kraft foods group , inc . on october 2 , 2012 . note : figures are rounded to the nearest $ 0.10. .
Question: what was the percentage cumulative total shareholder return on pmi's common stock for the five years ended december 31 , 2015?
Answer: | 0.862 |
FINQA4008 | Please answer the given financial question based on the context.
Context: considered to be the primary beneficiary of either entity and have therefore deconsolidated both entities . at december 31 , 2010 , we held a 36% ( 36 % ) interest in juniperus which is accounted for using the equity method of accounting . our potential loss at december 31 , 2010 is limited to our investment of $ 73 million in juniperus , which is recorded in investments in the consolidated statements of financial position . we have not provided any financing to juniperus other than previously contractually required amounts . juniperus and jchl had combined assets and liabilities of $ 121 million and $ 22 million , respectively , at december 31 , 2008 . for the year ended december 31 , 2009 , we recognized $ 36 million of pretax income from juniperus and jchl . we recognized $ 16 million of after-tax income , after allocating the appropriate share of net income to the non-controlling interests . we previously owned an 85% ( 85 % ) economic equity interest in globe re limited ( 2018 2018globe re 2019 2019 ) , a vie , which provided reinsurance coverage for a defined portfolio of property catastrophe reinsurance contracts underwritten by a third party for a limited period which ended june 1 , 2009 . we consolidated globe re as we were deemed to be the primary beneficiary . in connection with the winding up of its operations , globe re repaid its $ 100 million of short-term debt and our equity investment from available cash in 2009 . we recognized $ 2 million of after-tax income from globe re in 2009 , taking into account the share of net income attributable to non-controlling interests . globe re was fully liquidated in the third quarter of 2009 . review by segment general we serve clients through the following segments : 2022 risk solutions ( formerly risk and insurance brokerage services ) acts as an advisor and insurance and reinsurance broker , helping clients manage their risks , via consultation , as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network . 2022 hr solutions ( formerly consulting ) partners with organizations to solve their most complex benefits , talent and related financial challenges , and improve business performance by designing , implementing , communicating and administering a wide range of human capital , retirement , investment management , health care , compensation and talent management strategies . risk solutions .
|years ended december 31,|2010|2009|2008|
|revenue|$ 6423|$ 6305|$ 6197|
|operating income|1194|900|846|
|operating margin|18.6% ( 18.6 % )|14.3% ( 14.3 % )|13.7% ( 13.7 % )|
the demand for property and casualty insurance generally rises as the overall level of economic activity increases and generally falls as such activity decreases , affecting both the commissions and fees generated by our brokerage business . the economic activity that impacts property and casualty insurance is described as exposure units , and is most closely correlated with employment levels , corporate revenue and asset values . during 2010 we continued to see a 2018 2018soft market 2019 2019 , which began in 2007 , in our retail brokerage product line . in a soft market , premium rates flatten or decrease , along with commission revenues , due to increased competition for market share among insurance carriers or increased underwriting capacity . changes in premiums have a direct and potentially material impact on the insurance brokerage industry , as commission revenues are generally based on a percentage of the .
Question: what was the average revenues from 2008 to 2010 in millions
Answer: | 6308.33333 |
FINQA4009 | Please answer the given financial question based on the context.
Context: 14 2018 annual report performance graph the following chart presents a comparison for the five-year period ended june 30 , 2018 , of the market performance of the company 2019s common stock with the s&p 500 index and an index of peer companies selected by the company . historic stock price performance is not necessarily indicative of future stock price performance . comparison of 5 year cumulative total return among jack henry & associates , inc. , the s&p 500 index , and a peer group the following information depicts a line graph with the following values: .
||2013|2014|2015|2016|2017|2018|
|jkhy|100.00|128.02|141.48|193.46|233.19|296.19|
|peer group|100.00|137.07|171.80|198.44|231.11|297.44|
|s&p 500|100.00|124.61|133.86|139.20|164.11|187.70|
this comparison assumes $ 100 was invested on june 30 , 2013 , and assumes reinvestments of dividends . total returns are calculated according to market capitalization of peer group members at the beginning of each period . peer companies selected are in the business of providing specialized computer software , hardware and related services to financial institutions and other businesses . companies in the peer group are aci worldwide , inc. ; bottomline technology , inc. ; broadridge financial solutions ; cardtronics , inc. ; convergys corp. ; corelogic , inc. ; euronet worldwide , inc. ; fair isaac corp. ; fidelity national information services , inc. ; fiserv , inc. ; global payments , inc. ; moneygram international , inc. ; ss&c technologies holdings , inc. ; total systems services , inc. ; tyler technologies , inc. ; verifone systems , inc. ; and wex , inc . dst systems , inc. , which had previously been part of the peer group , was acquired in 2018 and is no longer a public company . as a result , dst systems , inc . has been removed from the peer group and stock performance graph . the stock performance graph shall not be deemed 201cfiled 201d for purposes of section 18 of the exchange act , or incorporated by reference into any filing of the company under the securities act of 1933 , as amended , or the exchange act , except as shall be expressly set forth by specific reference in such filing. .
Question: what was the cumulative total return for the peer group over the five years?
Answer: | 197.44 |
FINQA4010 | Please answer the given financial question based on the context.
Context: administrative fees , which increased $ 5.8 million to $ 353.9 million , are generally offset by related operating expenses that are incurred to provide services to the funds and their investors . our largest expense , compensation and related costs , increased $ 18.4 million or 2.3% ( 2.3 % ) from 2007 . this increase includes $ 37.2 million in salaries resulting from an 8.4% ( 8.4 % ) increase in our average staff count and an increase of our associates 2019 base salaries at the beginning of the year . at december 31 , 2008 , we employed 5385 associates , up 6.0% ( 6.0 % ) from the end of 2007 , primarily to add capabilities and support increased volume-related activities and other growth over the past few years . over the course of 2008 , we slowed the growth of our associate base from earlier plans and the prior year . we also reduced our annual bonuses $ 27.6 million versus the 2007 year in response to unfavorable financial market conditions that negatively impacted our operating results . the balance of the increase is attributable to higher employee benefits and employment-related expenses , including an increase of $ 5.7 million in stock-based compensation . after higher spending during the first quarter of 2008 versus 2007 , investor sentiment in the uncertain and volatile market environment caused us to reduce advertising and promotion spending , which for the year was down $ 3.8 million from 2007 . occupancy and facility costs together with depreciation expense increased $ 18 million , or 12% ( 12 % ) compared to 2007 . we expanded and renovated our facilities in 2008 to accommodate the growth in our associates to meet business demands . other operating expenses were up $ 3.3 million from 2007 . we increased our spending $ 9.8 million , primarily for professional fees and information and other third-party services . reductions in travel and charitable contributions partially offset these increases . our non-operating investment activity resulted in a net loss of $ 52.3 million in 2008 as compared to a net gain of $ 80.4 million in 2007 . this change of $ 132.7 million is primarily attributable to losses recognized in 2008 on our investments in sponsored mutual funds , which resulted from declines in financial market values during the year. .
||2007|2008|change|
|capital gain distributions received|$ 22.1|$ 5.6|$ -16.5 ( 16.5 )|
|other than temporary impairments recognized|-.3 ( .3 )|-91.3 ( 91.3 )|-91.0 ( 91.0 )|
|net gains ( losses ) realized onfund dispositions|5.5|-4.5 ( 4.5 )|-10.0 ( 10.0 )|
|net gain ( loss ) recognized on fund holdings|$ 27.3|$ -90.2 ( 90.2 )|$ -117.5 ( 117.5 )|
we recognized other than temporary impairments of our investments in sponsored mutual funds because of declines in fair value below cost for an extended period . the significant declines in fair value below cost that occurred in 2008 were generally attributable to adverse market conditions . in addition , income from money market and bond fund holdings was $ 19.3 million lower than in 2007 due to the significantly lower interest rate environment of 2008 . lower interest rates also led to substantial capital appreciation on our $ 40 million holding of u.s . treasury notes that we sold in december 2008 at a $ 2.6 million gain . the 2008 provision for income taxes as a percentage of pretax income is 38.4% ( 38.4 % ) , up from 37.7% ( 37.7 % ) in 2007 , primarily to reflect changes in state income tax rates and regulations and certain adjustments made prospectively based on our annual income tax return filings for 2007 . c a p i t a l r e s o u r c e s a n d l i q u i d i t y . during 2009 , stockholders 2019 equity increased from $ 2.5 billion to $ 2.9 billion . we repurchased nearly 2.3 million common shares for $ 67 million in 2009 . tangible book value is $ 2.2 billion at december 31 , 2009 , and our cash and cash equivalents and our mutual fund investment holdings total $ 1.4 billion . given the availability of these financial resources , we do not maintain an available external source of liquidity . on january 20 , 2010 , we purchased a 26% ( 26 % ) equity interest in uti asset management company and an affiliate for $ 142.4 million . we funded the acquisition from our cash holdings . in addition to the pending uti acquisition , we had outstanding commitments to fund other investments totaling $ 35.4 million at december 31 , 2009 . we presently anticipate funding 2010 property and equipment expenditures of about $ 150 million from our cash balances and operating cash inflows . 22 t . rowe price group annual report 2009 .
Question: what were the total occupancy and facility costs in 2007 , in millions of dollars?
Answer: | 150.0 |
FINQA4011 | Please answer the given financial question based on the context.
Context: entergy mississippi , inc . management 2019s financial discussion and analysis the net wholesale revenue variance is primarily due to entergy mississippi 2019s exit from the system agreement in november 2015 . the reserve equalization revenue variance is primarily due to the absence of reserve equalization revenue as compared to the same period in 2015 resulting from entergy mississippi 2019s exit from the system agreement in november 2015 compared to 2014 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2015 to 2014 . amount ( in millions ) .
||amount ( in millions )|
|2014 net revenue|$ 701.2|
|volume/weather|8.9|
|retail electric price|7.3|
|net wholesale revenue|-2.7 ( 2.7 )|
|transmission equalization|-5.4 ( 5.4 )|
|reserve equalization|-5.5 ( 5.5 )|
|other|-7.5 ( 7.5 )|
|2015 net revenue|$ 696.3|
the volume/weather variance is primarily due to an increase of 86 gwh , or 1% ( 1 % ) , in billed electricity usage , including the effect of more favorable weather on residential and commercial sales . the retail electric price variance is primarily due to a $ 16 million net annual increase in revenues , effective february 2015 , as a result of the mpsc order in the june 2014 rate case and an increase in revenues collected through the energy efficiency rider , partially offset by a decrease in revenues collected through the storm damage rider . the rate case included the realignment of certain costs from collection in riders to base rates . see note 2 to the financial statements for a discussion of the rate case , the energy efficiency rider , and the storm damage rider . the net wholesale revenue variance is primarily due to a wholesale customer contract termination in october transmission equalization revenue represents amounts received by entergy mississippi from certain other entergy utility operating companies , in accordance with the system agreement , to allocate the costs of collectively planning , constructing , and operating entergy 2019s bulk transmission facilities . the transmission equalization variance is primarily attributable to the realignment , effective february 2015 , of these revenues from the determination of base rates to inclusion in a rider . such revenues had a favorable effect on net revenue in 2014 , but minimal effect in 2015 . entergy mississippi exited the system agreement in november 2015 . see note 2 to the financial statements for a discussion of the system agreement . reserve equalization revenue represents amounts received by entergy mississippi from certain other entergy utility operating companies , in accordance with the system agreement , to allocate the costs of collectively maintaining adequate electric generating capacity across the entergy system . the reserve equalization variance is primarily attributable to the realignment , effective february 2015 , of these revenues from the determination of base rates to inclusion in a rider . such revenues had a favorable effect on net revenue in 2014 , but minimal effect in 2015 . entergy .
Question: did the volume/weather adjustment have a greater impact on 2015 net revenue than the retail electric price adjustment?
Answer: | yes |
FINQA4012 | Please answer the given financial question based on the context.
Context: at december 31 , 2013 , total future minimum commitments under existing non-cancelable operating leases and purchase obligations were as follows: .
|in millions|2014|2015|2016|2017|2018|thereafter|
|lease obligations|$ 171|$ 133|$ 97|$ 74|$ 59|$ 162|
|purchase obligations ( a )|3170|770|642|529|453|2404|
|total|$ 3341|$ 903|$ 739|$ 603|$ 512|$ 2566|
( a ) includes $ 3.3 billion relating to fiber supply agreements entered into at the time of the company 2019s 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business . rent expense was $ 215 million , $ 231 million and $ 205 million for 2013 , 2012 and 2011 , respectively . guarantees in connection with sales of businesses , property , equipment , forestlands and other assets , international paper commonly makes representations and warranties relating to such businesses or assets , and may agree to indemnify buyers with respect to tax and environmental liabilities , breaches of representations and warranties , and other matters . where liabilities for such matters are determined to be probable and subject to reasonable estimation , accrued liabilities are recorded at the time of sale as a cost of the transaction . environmental proceedings international paper has been named as a potentially responsible party in environmental remediation actions under various federal and state laws , including the comprehensive environmental response , compensation and liability act ( cercla ) . many of these proceedings involve the cleanup of hazardous substances at large commercial landfills that received waste from many different sources . while joint and several liability is authorized under cercla and equivalent state laws , as a practical matter , liability for cercla cleanups is typically allocated among the many potential responsible parties . remedial costs are recorded in the consolidated financial statements when they become probable and reasonably estimable . international paper has estimated the probable liability associated with these matters to be approximately $ 94 million in the aggregate at december 31 , 2013 . cass lake : one of the matters referenced above is a closed wood treating facility located in cass lake , minnesota . during 2009 , in connection with an environmental site remediation action under cercla , international paper submitted to the epa a site remediation feasibility study . in june 2011 , the epa selected and published a proposed soil remedy at the site with an estimated cost of $ 46 million . the overall remediation reserve for the site is currently $ 51 million to address this selection of an alternative for the soil remediation component of the overall site remedy . in october 2011 , the epa released a public statement indicating that the final soil remedy decision would be delayed . in the unlikely event that the epa changes its proposed soil remedy and approves instead a more expensive clean-up alternative , the remediation costs could be material , and significantly higher than amounts currently recorded . in october 2012 , the natural resource trustees for this site provided notice to international paper and other potentially responsible parties of their intent to perform a natural resource damage assessment . it is premature to predict the outcome of the assessment or to estimate a loss or range of loss , if any , which may be incurred . other : in addition to the above matters , other remediation costs typically associated with the cleanup of hazardous substances at the company 2019s current , closed or formerly-owned facilities , and recorded as liabilities in the balance sheet , totaled approximately $ 42 million at december 31 , 2013 . other than as described above , completion of required remedial actions is not expected to have a material effect on our consolidated financial statements . kalamazoo river : the company is a potentially responsible party with respect to the allied paper , inc./ portage creek/kalamazoo river superfund site ( kalamazoo river superfund site ) in michigan . the epa asserts that the site is contaminated primarily by pcbs as a result of discharges from various paper mills located along the kalamazoo river , including a paper mill formerly owned by st . regis paper company ( st . regis ) . the company is a successor in interest to st . regis . the company has not received any orders from the epa with respect to the site and continues to collect information from the epa and other parties relative to the site to evaluate the extent of its liability , if any , with respect to the site . accordingly , it is premature to estimate a loss or range of loss with respect to this site . also in connection with the kalamazoo river superfund site , the company was named as a defendant by georgia-pacific consumer products lp , fort james corporation and georgia pacific llc in a contribution and cost recovery action for alleged pollution at the site . the suit seeks contribution under cercla for $ 79 million in costs purportedly expended by plaintiffs as of the filing of the complaint and for future remediation costs . the suit alleges that a mill , during the time it was allegedly owned and operated by st . regis , discharged pcb contaminated solids and paper residuals resulting from paper de-inking and recycling . also named as defendants in the suit are ncr corporation and weyerhaeuser company . in mid-2011 , the suit was transferred from the district court for the eastern district of wisconsin to the district court for the western .
Question: in 2014 what percentage of at december 31 , 2013 , total future minimum commitments under existing non-cancelable operating leases and purchase obligations is due to purchase obligations?
Answer: | 0.94882 |
FINQA4013 | Please answer the given financial question based on the context.
Context: we cannot assure you that the gener restructuring will be completed or that the terms thereof will not be changed materially . in addition , gener is in the process of restructuring the debt of its subsidiaries , termoandes s.a . ( 2018 2018termoandes 2019 2019 ) and interandes , s.a . ( 2018 2018interandes 2019 2019 ) , and expects that the maturities of these obligations will be extended . under-performing businesses during 2003 we sold or discontinued under-performing businesses and construction projects that did not meet our investment criteria or did not provide reasonable opportunities to restructure . it is anticipated that there will be less ongoing activity related to write-offs of development or construction projects and impairment charges in the future . the businesses , which were affected in 2003 , are listed below . impairment project name project type date location ( in millions ) .
|project name|project type|date|location|impairment ( in millions )|
|ede este ( 1 )|operating|december 2003|dominican republic|$ 60|
|wolf hollow|operating|december 2003|united states|$ 120|
|granite ridge|operating|december 2003|united states|$ 201|
|colombia i|operating|november 2003|colombia|$ 19|
|zeg|construction|december 2003|poland|$ 23|
|bujagali|construction|august 2003|uganda|$ 76|
|el faro|construction|april 2003|honduras|$ 20|
( 1 ) see note 4 2014discontinued operations . improving credit quality our de-leveraging efforts reduced parent level debt by $ 1.2 billion in 2003 ( including the secured equity-linked loan previously issued by aes new york funding l.l.c. ) . we refinanced and paid down near-term maturities by $ 3.5 billion and enhanced our year-end liquidity to over $ 1 billion . our average debt maturity was extended from 2009 to 2012 . at the subsidiary level we continue to pursue limited recourse financing to reduce parent credit risk . these factors resulted in an overall reduced cost of capital , improved credit statistics and expanded access to credit at both aes and our subsidiaries . liquidity at the aes parent level is an important factor for the rating agencies in determining whether the company 2019s credit quality should improve . currency and political risk tend to be biggest variables to sustaining predictable cash flow . the nature of our large contractual and concession-based cash flow from these businesses serves to mitigate these variables . in 2003 , over 81% ( 81 % ) of cash distributions to the parent company were from u.s . large utilities and worldwide contract generation . on february 4 , 2004 , we called for redemption of $ 155049000 aggregate principal amount of outstanding 8% ( 8 % ) senior notes due 2008 , which represents the entire outstanding principal amount of the 8% ( 8 % ) senior notes due 2008 , and $ 34174000 aggregate principal amount of outstanding 10% ( 10 % ) secured senior notes due 2005 . the 8% ( 8 % ) senior notes due 2008 and the 10% ( 10 % ) secured senior notes due 2005 were redeemed on march 8 , 2004 at a redemption price equal to 100% ( 100 % ) of the principal amount plus accrued and unpaid interest to the redemption date . the mandatory redemption of the 10% ( 10 % ) secured senior notes due 2005 was being made with a portion of our 2018 2018adjusted free cash flow 2019 2019 ( as defined in the indenture pursuant to which the notes were issued ) for the fiscal year ended december 31 , 2003 as required by the indenture and was made on a pro rata basis . on february 13 , 2004 we issued $ 500 million of unsecured senior notes . the unsecured senior notes mature on march 1 , 2014 and are callable at our option at any time at a redemption price equal to 100% ( 100 % ) of the principal amount of the unsecured senior notes plus a make-whole premium . the unsecured senior notes were issued at a price of 98.288% ( 98.288 % ) and pay interest semi-annually at an annual .
Question: what was the total impairment relating to us assets?
Answer: | 321000000.0 |
FINQA4014 | Please answer the given financial question based on the context.
Context: 58 2018 ppg annual report and 10-k the crown group on october 2 , 2017 , ppg acquired the crown group ( 201ccrown 201d ) , a u.s.-based coatings application services business , which is reported as part of ppg's industrial coatings reportable segment . crown is one of the leading component and product finishers in north america . crown applies coatings to customers 2019 manufactured parts and assembled products at 11 u.s . sites . most of crown 2019s facilities , which also provide assembly , warehousing and sequencing services , are located at customer facilities or positioned near customer manufacturing sites . the company serves manufacturers in the automotive , agriculture , construction , heavy truck and alternative energy industries . the pro-forma impact on ppg's sales and results of operations , including the pro forma effect of events that are directly attributable to the acquisition , was not significant . the results of this business since the date of acquisition have been reported within the industrial coatings business within the industrial coatings reportable segment . taiwan chlorine industries taiwan chlorine industries ( 201ctci 201d ) was established in 1986 as a joint venture between ppg and china petrochemical development corporation ( 201ccpdc 201d ) to produce chlorine-based products in taiwan , at which time ppg owned 60 percent of the venture . in conjunction with the 2013 separation of its commodity chemicals business , ppg conveyed to axiall corporation ( "axiall" ) its 60% ( 60 % ) ownership interest in tci . under ppg 2019s agreement with cpdc , if certain post-closing conditions were not met following the three year anniversary of the separation , cpdc had the option to sell its 40% ( 40 % ) ownership interest in tci to axiall for $ 100 million . in turn , axiall had a right to designate ppg as its designee to purchase the 40% ( 40 % ) ownership interest of cpdc . in april 2016 , axiall announced that cpdc had decided to sell its ownership interest in tci to axiall . in june 2016 , axiall formally designated ppg to purchase the 40% ( 40 % ) ownership interest in tci . in august 2016 , westlake chemical corporation acquired axiall , which became a wholly-owned subsidiary of westlake . in april 2017 , ppg finalized its purchase of cpdc 2019s 40% ( 40 % ) ownership interest in tci . the difference between the acquisition date fair value and the purchase price of ppg 2019s 40% ( 40 % ) ownership interest in tci has been recorded as a loss in discontinued operations during the year-ended december 31 , 2017 . ppg 2019s ownership in tci is accounted for as an equity method investment and the related equity earnings are reported within other income in the consolidated statement of income and in legacy in note 20 , 201creportable business segment information . 201d metokote corporation in july 2016 , ppg completed the acquisition of metokote corporation ( "metokote" ) , a u.s.-based coatings application services business . metokote applies coatings to customers' manufactured parts and assembled products . it operates on- site coatings services within several customer manufacturing locations , as well as at regional service centers , located throughout the u.s. , canada , mexico , the united kingdom , germany , hungary and the czech republic . customers ship parts to metokote ae service centers where they are treated to enhance paint adhesion and painted with electrocoat , powder or liquid coatings technologies . coated parts are then shipped to the customer 2019s next stage of assembly . metokote coats an average of more than 1.5 million parts per day . the following table summarizes the estimated fair value of assets acquired and liabilities assumed as reflected in the final purchase price allocation for metokote . ( $ in millions ) .
|current assets|$ 38|
|property plant and equipment|73|
|identifiable intangible assets with finite lives|86|
|goodwill|166|
|deferred income taxes ( a )|-12 ( 12 )|
|total assets|$ 351|
|current liabilities|-23 ( 23 )|
|other long-term liabilities|-22 ( 22 )|
|total liabilities|( $ 45 )|
|total purchase price net of cash acquired|$ 306|
( a ) the net deferred income tax liability is included in assets due to the company's tax jurisdictional netting . the pro-forma impact on ppg's sales and results of operations , including the pro forma effect of events that are directly attributable to the acquisition , was not significant . while calculating this impact , no cost savings or operating synergies that may result from the acquisition were included . the results of this business since the date of acquisition have been reported within the industrial coatings business within the industrial coatings reportable segment . notes to the consolidated financial statements .
Question: for metokote , what percentage of purchase price was intangible assets?
Answer: | 0.82353 |
FINQA4015 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries management's financial discussion and analysis the expenses related to the voluntary severance program offered to employees . approximately 200 employees from the non-utility nuclear business and 150 employees in the utility business accepted the voluntary severance program offers . net revenue utility following is an analysis of the change in net revenue comparing 2008 to 2007 . amount ( in millions ) .
||amount ( in millions )|
|2007 net revenue|$ 4618|
|purchased power capacity|-25 ( 25 )|
|volume/weather|-14 ( 14 )|
|retail electric price|9|
|other|1|
|2008 net revenue|$ 4589|
the purchased power capacity variance is primarily due to higher capacity charges . a portion of the variance is due to the amortization of deferred capacity costs and is offset in base revenues due to base rate increases implemented to recover incremental deferred and ongoing purchased power capacity charges . the volume/weather variance is primarily due to the effect of less favorable weather compared to the same period in 2007 and decreased electricity usage primarily during the unbilled sales period . hurricane gustav and hurricane ike , which hit the utility's service territories in september 2008 , contributed an estimated $ 46 million to the decrease in electricity usage . industrial sales were also depressed by the continuing effects of the hurricanes and , especially in the latter part of the year , because of the overall decline of the economy , leading to lower usage in the latter part of the year affecting both the large customer industrial segment as well as small and mid-sized industrial customers . the decreases in electricity usage were partially offset by an increase in residential and commercial customer electricity usage that occurred during the periods of the year not affected by the hurricanes . the retail electric price variance is primarily due to : an increase in the attala power plant costs recovered through the power management rider by entergy mississippi . the net income effect of this recovery is limited to a portion representing an allowed return on equity with the remainder offset by attala power plant costs in other operation and maintenance expenses , depreciation expenses , and taxes other than income taxes ; a storm damage rider that became effective in october 2007 at entergy mississippi ; and an energy efficiency rider that became effective in november 2007 at entergy arkansas . the establishment of the storm damage rider and the energy efficiency rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense with no impact on net income . the retail electric price variance was partially offset by : the absence of interim storm recoveries through the formula rate plans at entergy louisiana and entergy gulf states louisiana which ceased upon the act 55 financing of storm costs in the third quarter 2008 ; and a credit passed on to customers as a result of the act 55 storm cost financings . refer to "liquidity and capital resources - hurricane katrina and hurricane rita" below and note 2 to the financial statements for a discussion of the interim recovery of storm costs and the act 55 storm cost financings. .
Question: what was the percent of net revenue utility change in net revenue
Answer: | -0.00628 |
FINQA4016 | Please answer the given financial question based on the context.
Context: the pnc financial services group , inc . 2013 form 10-k 65 liquidity and capital management liquidity risk has two fundamental components . the first is potential loss assuming we were unable to meet our funding requirements at a reasonable cost . the second is the potential inability to operate our businesses because adequate contingent liquidity is not available . we manage liquidity risk at the consolidated company level ( bank , parent company and nonbank subsidiaries combined ) to help ensure that we can obtain cost-effective funding to meet current and future obligations under both normal 201cbusiness as usual 201d and stressful circumstances , and to help ensure that we maintain an appropriate level of contingent liquidity . management monitors liquidity through a series of early warning indicators that may indicate a potential market , or pnc-specific , liquidity stress event . in addition , management performs a set of liquidity stress tests over multiple time horizons with varying levels of severity and maintains a contingency funding plan to address a potential liquidity stress event . in the most severe liquidity stress simulation , we assume that our liquidity position is under pressure , while the market in general is under systemic pressure . the simulation considers , among other things , the impact of restricted access to both secured and unsecured external sources of funding , accelerated run-off of customer deposits , valuation pressure on assets and heavy demand to fund committed obligations . parent company liquidity guidelines are designed to help ensure that sufficient liquidity is available to meet our parent company obligations over the succeeding 24-month period . liquidity-related risk limits are established within our enterprise liquidity management policy and supporting policies . management committees , including the asset and liability committee , and the board of directors and its risk committee regularly review compliance with key established limits . in addition to these liquidity monitoring measures and tools described above , we also monitor our liquidity by reference to the liquidity coverage ratio ( lcr ) which is further described in the supervision and regulation section in item 1 of this report . pnc and pnc bank calculate the lcr on a daily basis and as of december 31 , 2018 , the lcr for pnc and pnc bank exceeded the fully phased-in requirement of 100% ( 100 % ) . we provide additional information regarding regulatory liquidity requirements and their potential impact on us in the supervision and regulation section of item 1 business and item 1a risk factors of this report . sources of liquidity our largest source of liquidity on a consolidated basis is the customer deposit base generated by our banking businesses . these deposits provide relatively stable and low-cost funding . total deposits increased to $ 267.8 billion at december 31 , 2018 from $ 265.1 billion at december 31 , 2017 driven by growth in interest-bearing deposits partially offset by a decrease in noninterest-bearing deposits . see the funding sources section of the consolidated balance sheet review in this report for additional information related to our deposits . additionally , certain assets determined by us to be liquid as well as unused borrowing capacity from a number of sources are also available to manage our liquidity position . at december 31 , 2018 , our liquid assets consisted of short-term investments ( federal funds sold , resale agreements , trading securities and interest-earning deposits with banks ) totaling $ 22.1 billion and securities available for sale totaling $ 63.4 billion . the level of liquid assets fluctuates over time based on many factors , including market conditions , loan and deposit growth and balance sheet management activities . our liquid assets included $ 2.7 billion of securities available for sale and trading securities pledged as collateral to secure public and trust deposits , repurchase agreements and for other purposes . in addition , $ 4.9 billion of securities held to maturity were also pledged as collateral for these purposes . we also obtain liquidity through various forms of funding , including long-term debt ( senior notes , subordinated debt and fhlb borrowings ) and short-term borrowings ( securities sold under repurchase agreements , commercial paper and other short-term borrowings ) . see note 10 borrowed funds and the funding sources section of the consolidated balance sheet review in this report for additional information related to our borrowings . total senior and subordinated debt , on a consolidated basis , decreased due to the following activity : table 24 : senior and subordinated debt .
|in billions|2018|
|january 1|$ 33.3|
|issuances|4.5|
|calls and maturities|-6.8 ( 6.8 )|
|other|-.1 ( .1 )|
|december 31|$ 30.9|
.
Question: at december 31 , 2018 , were securities available for sale greater than total senior and subordinated debt?
Answer: | yes |
FINQA4017 | Please answer the given financial question based on the context.
Context: period . the discount reflects our incremental borrowing rate , which matches the lifetime of the liability . significant changes in the discount rate selected or the estimations of sublease income in the case of leases could impact the amounts recorded . other associated costs with restructuring activities we recognize other costs associated with restructuring activities as they are incurred , including moving costs and consulting and legal fees . pensions we sponsor defined benefit pension plans throughout the world . our most significant plans are located in the u.s. , the u.k. , the netherlands and canada . our significant u.s. , u.k . and canadian pension plans are closed to new entrants . we have ceased crediting future benefits relating to salary and service for our u.s. , u.k . and canadian plans . recognition of gains and losses and prior service certain changes in the value of the obligation and in the value of plan assets , which may occur due to various factors such as changes in the discount rate and actuarial assumptions , actual demographic experience and/or plan asset performance are not immediately recognized in net income . such changes are recognized in other comprehensive income and are amortized into net income as part of the net periodic benefit cost . unrecognized gains and losses that have been deferred in other comprehensive income , as previously described , are amortized into compensation and benefits expense as a component of periodic pension expense based on the average expected future service of active employees for our plans in the netherlands and canada , or the average life expectancy of the u.s . and u.k . plan members . after the effective date of the plan amendments to cease crediting future benefits relating to service , unrecognized gains and losses are also be based on the average life expectancy of members in the canadian plans . we amortize any prior service expense or credits that arise as a result of plan changes over a period consistent with the amortization of gains and losses . as of december 31 , 2013 , our pension plans have deferred losses that have not yet been recognized through income in the consolidated financial statements . we amortize unrecognized actuarial losses outside of a corridor , which is defined as 10% ( 10 % ) of the greater of market-related value of plan assets or projected benefit obligation . to the extent not offset by future gains , incremental amortization as calculated above will continue to affect future pension expense similarly until fully amortized . the following table discloses our combined experience loss , the number of years over which we are amortizing the experience loss , and the estimated 2014 amortization of loss by country ( amounts in millions ) : .
||u.k .|u.s .|other|
|combined experience loss|$ 2012|$ 1219|$ 402|
|amortization period ( in years )|29|26|11 - 23|
|estimated 2014 amortization of loss|$ 53|$ 44|$ 10|
the unrecognized prior service cost at december 31 , 2013 was $ 27 million in the u.k . and other plans . for the u.s . pension plans we use a market-related valuation of assets approach to determine the expected return on assets , which is a component of net periodic benefit cost recognized in the consolidated statements of income . this approach recognizes 20% ( 20 % ) of any gains or losses in the current year's value of market-related assets , with the remaining 80% ( 80 % ) spread over the next four years . as this approach recognizes gains or losses over a five-year period , the future value of assets and therefore , our net periodic benefit cost will be impacted as previously deferred gains or losses are recorded . as of december 31 , 2013 , the market-related value of assets was $ 1.8 billion . we do not use the market-related valuation approach to determine the funded status of the u.s . plans recorded in the consolidated statements of financial position . instead , we record and present the funded status in the consolidated statements of financial position based on the fair value of the plan assets . as of december 31 , 2013 , the fair value of plan assets was $ 1.9 billion . our non-u.s . plans use fair value to determine expected return on assets. .
Question: as of december 31 , 2013 , what was the ratio of the fair value of plan assets to the the market-related value of assets was $ 1.9 billion .
Answer: | 1.05556 |
FINQA4018 | Please answer the given financial question based on the context.
Context: contractual obligations we summarize our enforceable and legally binding contractual obligations at september 30 , 2018 , and the effect these obligations are expected to have on our liquidity and cash flow in future periods in the following table . certain amounts in this table are based on management fffds estimates and assumptions about these obligations , including their duration , the possibility of renewal , anticipated actions by third parties and other factors , including estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans . because these estimates and assumptions are subjective , the enforceable and legally binding obligations we actually pay in future periods may vary from those presented in the table. .
|( in millions )|payments due by period total|payments due by period fiscal 2019|payments due by period fiscal 2020and 2021|payments due by period fiscal 2022and 2023|payments due by period thereafter|
|long-term debt including current portionexcluding capital lease obligations ( 1 )|$ 6039.0|$ 726.6|$ 824.8|$ 1351.0|$ 3136.6|
|operating lease obligations ( 2 )|615.8|132.1|199.9|118.4|165.4|
|capital lease obligations ( 3 )|152.5|5.0|6.7|2.7|138.1|
|purchase obligations and other ( 4 ) ( 5 ) ( 6 )|2210.5|1676.6|224.1|114.9|194.9|
|total|$ 9017.8|$ 2540.3|$ 1255.5|$ 1587.0|$ 3635.0|
( 1 ) includes only principal payments owed on our debt assuming that all of our long-term debt will be held to maturity , excluding scheduled payments . we have excluded $ 205.2 million of fair value of debt step-up , deferred financing costs and unamortized bond discounts from the table to arrive at actual debt obligations . see fffdnote 13 . debt fffd fffd of the notes to consolidated financial statements for information on the interest rates that apply to our various debt instruments . ( 2 ) see fffdnote 14 . operating leases fffd of the notes to consolidated financial statements for additional information . ( 3 ) the fair value step-up of $ 18.5 million is excluded . see fffdnote 13 . debt fffd fffd capital lease and other indebtednesstt fffd of the notes to consolidated financial statements for additional information . ( 4 ) purchase obligations include agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum or variable price provision ; and the approximate timing of the transaction . purchase obligations exclude agreements that are cancelable without penalty . ( 5 ) we have included in the table future estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans . our estimates are based on factors , such as discount rates and expected returns on plan assets . future contributions are subject to changes in our underfunded status based on factors such as investment performance , discount rates , returns on plan assets and changes in legislation . it is possible that our assumptions may change , actual market performance may vary or we may decide to contribute different amounts . we have excluded $ 247.8 million of multiemployer pension plan withdrawal liabilities recorded as of september 30 , 2018 due to lack of definite payout terms for certain of the obligations . see fffdnote 4 . retirement plans fffd multiemployer plans fffd of the notes to consolidated financial statements for additional information . ( 6 ) we have not included the following items in the table : fffd an item labeled fffdother long-term liabilities fffd reflected on our consolidated balance sheet because these liabilities do not have a definite pay-out scheme . fffd $ 158.4 million from the line item fffdpurchase obligations and other fffd for certain provisions of the financial accounting standards board fffds ( fffdfasb fffd ) accounting standards codification ( fffdasc fffd ) 740 , fffdincome taxes fffd associated with liabilities for uncertain tax positions due to the uncertainty as to the amount and timing of payment , if any . in addition to the enforceable and legally binding obligations presented in the table above , we have other obligations for goods and services and raw materials entered into in the normal course of business . these contracts , however , are subject to change based on our business decisions . expenditures for environmental compliance see item 1 . fffdbusiness fffd fffd governmental regulation fffd environmental and other matters fffd , fffdbusiness fffd fffd governmental regulation fffd cercla and other remediation costs fffd , and fffd fffdbusiness fffd fffd governmental regulation fffd climate change fffd for a discussion of our expenditures for environmental compliance. .
Question: what would be the total amount of long-term debt if they were to include fair value of debt step-up?
Answer: | 12283.2 |
FINQA4019 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis 120 jpmorgan chase & co./2012 annual report $ 12.0 billion , and jpmorgan clearing 2019s net capital was $ 6.6 billion , exceeding the minimum requirement by $ 5.0 billion . in addition to its minimum net capital requirement , jpmorgan securities is required to hold tentative net capital in excess of $ 1.0 billion and is also required to notify the sec in the event that tentative net capital is less than $ 5.0 billion , in accordance with the market and credit risk standards of appendix e of the net capital rule . as of december 31 , 2012 , jpmorgan securities had tentative net capital in excess of the minimum and notification requirements . j.p . morgan securities plc ( formerly j.p . morgan securities ltd. ) is a wholly-owned subsidiary of jpmorgan chase bank , n.a . and is the firm 2019s principal operating subsidiary in the u.k . it has authority to engage in banking , investment banking and broker-dealer activities . j.p . morgan securities plc is regulated by the u.k . financial services authority ( 201cfsa 201d ) . at december 31 , 2012 , it had total capital of $ 20.8 billion , or a total capital ratio of 15.5% ( 15.5 % ) which exceeded the 8% ( 8 % ) well-capitalized standard applicable to it under basel 2.5 . economic risk capital jpmorgan chase assesses its capital adequacy relative to the risks underlying its business activities using internal risk-assessment methodologies . the firm measures economic capital primarily based on four risk factors : credit , market , operational and private equity risk. .
|year ended december 31 ( in billions )|yearly average 2012|yearly average 2011|yearly average 2010|
|credit risk|$ 46.6|$ 48.2|$ 49.7|
|market risk|17.5|14.5|15.1|
|operational risk|15.9|8.5|7.4|
|private equity risk|6.0|6.9|6.2|
|economic risk capital|86.0|78.1|78.4|
|goodwill|48.2|48.6|48.6|
|other ( a )|50.2|46.6|34.5|
|total common stockholders 2019equity|$ 184.4|$ 173.3|$ 161.5|
( a ) reflects additional capital required , in the firm 2019s view , to meet its regulatory and debt rating objectives . credit risk capital credit risk capital is estimated separately for the wholesale businesses ( cib , cb and am ) and consumer business ( ccb ) . credit risk capital for the wholesale credit portfolio is defined in terms of unexpected credit losses , both from defaults and from declines in the value of the portfolio due to credit deterioration , measured over a one-year period at a confidence level consistent with an 201caa 201d credit rating standard . unexpected losses are losses in excess of those for which the allowance for credit losses is maintained . the capital methodology is based on several principal drivers of credit risk : exposure at default ( or loan-equivalent amount ) , default likelihood , credit spreads , loss severity and portfolio correlation . credit risk capital for the consumer portfolio is based on product and other relevant risk segmentation . actual segment-level default and severity experience are used to estimate unexpected losses for a one-year horizon at a confidence level consistent with an 201caa 201d credit rating standard . the decrease in credit risk capital in 2012 was driven by consumer portfolio runoff and continued model enhancements to better estimate future stress credit losses in the consumer portfolio . see credit risk management on pages 134 2013135 of this annual report for more information about these credit risk measures . market risk capital the firm calculates market risk capital guided by the principle that capital should reflect the risk of loss in the value of the portfolios and financial instruments caused by adverse movements in market variables , such as interest and foreign exchange rates , credit spreads , and securities and commodities prices , taking into account the liquidity of the financial instruments . results from daily var , weekly stress tests , issuer credit spreads and default risk calculations , as well as other factors , are used to determine appropriate capital levels . market risk capital is allocated to each business segment based on its risk assessment . the increase in market risk capital in 2012 was driven by increased risk in the synthetic credit portfolio . see market risk management on pages 163 2013169 of this annual report for more information about these market risk measures . operational risk capital operational risk is the risk of loss resulting from inadequate or failed processes or systems , human factors or external events . the operational risk capital model is based on actual losses and potential scenario-based losses , with adjustments to the capital calculation to reflect changes in the quality of the control environment . the increase in operational risk capital in 2012 was primarily due to continued model enhancements to better capture large historical loss events , including mortgage-related litigation costs . the increases that occurred during 2012 will be fully reflected in average operational risk capital in 2013 . see operational risk management on pages 175 2013176 of this annual report for more information about operational risk . private equity risk capital capital is allocated to privately- and publicly-held securities , third-party fund investments , and commitments in the private equity portfolio , within the corporate/private equity segment , to cover the potential loss associated with a decline in equity markets and related asset devaluations . in addition to negative market fluctuations , potential losses in private equity investment portfolios can be magnified by liquidity risk. .
Question: how much more operational risk , in billions , did the firm take on in 2010 and 2011 combined than in 2012?
Answer: | 0.0 |
FINQA4020 | Please answer the given financial question based on the context.
Context: republic services , inc . notes to consolidated financial statements 2014 ( continued ) high quality financial institutions . such balances may be in excess of fdic insured limits . to manage the related credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits . concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas . we provide services to small-container commercial , large-container industrial , municipal and residential customers in the united states and puerto rico . we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables . we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information . accounts receivable , net accounts receivable represent receivables from customers for collection , transfer , recycling , disposal , energy services and other services . our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash . the carrying value of our receivables , net of the allowance for doubtful accounts and customer credits , represents their estimated net realizable value . provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions . we also review outstanding balances on an account-specific basis . in general , reserves are provided for accounts receivable in excess of 90 days outstanding . past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due . the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31: .
||2016|2015|2014|
|balance at beginning of year|$ 46.7|$ 38.9|$ 38.3|
|additions charged to expense|20.4|22.7|22.6|
|accounts written-off|-23.1 ( 23.1 )|-14.9 ( 14.9 )|-22.0 ( 22.0 )|
|balance at end of year|$ 44.0|$ 46.7|$ 38.9|
restricted cash and marketable securities as of december 31 , 2016 , we had $ 90.5 million of restricted cash and marketable securities of which $ 62.6 million supports our insurance programs for workers 2019 compensation , commercial general liability , and commercial auto liability . additionally , we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers . the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance . as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets . in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance . at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts . property and equipment we record property and equipment at cost . expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred . when property is retired or .
Question: what was the percentage change in the allowance for doubtful accounts in 2016
Answer: | -0.05782 |
FINQA4021 | Please answer the given financial question based on the context.
Context: fhlb advances and other borrowings fhlb advances 2014the company had $ 0.7 billion in floating-rate and $ 0.2 billion in fixed-rate fhlb advances at both december 31 , 2013 and 2012 . the floating-rate advances adjust quarterly based on the libor . during the year ended december 31 , 2012 , $ 650.0 million of fixed-rate fhlb advances were converted to floating-rate for a total cost of approximately $ 128 million which was capitalized and will be amortized over the remaining maturities using the effective interest method . in addition , during the year ended december 31 , 2012 , the company paid down in advance of maturity $ 1.0 billion of its fhlb advances and recorded $ 69.1 million in losses on the early extinguishment . this loss was recorded in the gains ( losses ) on early extinguishment of debt line item in the consolidated statement of income ( loss ) . the company did not have any similar transactions for the years ended december 31 , 2013 and 2011 . as a condition of its membership in the fhlb atlanta , the company is required to maintain a fhlb stock investment currently equal to the lesser of : a percentage of 0.12% ( 0.12 % ) of total bank assets ; or a dollar cap amount of $ 20 million . additionally , the bank must maintain an activity based stock investment which is currently equal to 4.5% ( 4.5 % ) of the bank 2019s outstanding advances at the time of borrowing . the company had an investment in fhlb stock of $ 61.4 million and $ 67.4 million at december 31 , 2013 and 2012 , respectively . the company must also maintain qualified collateral as a percent of its advances , which varies based on the collateral type , and is further adjusted by the outcome of the most recent annual collateral audit and by fhlb 2019s internal ranking of the bank 2019s creditworthiness . these advances are secured by a pool of mortgage loans and mortgage-backed securities . at december 31 , 2013 and 2012 , the company pledged loans with a lendable value of $ 3.9 billion and $ 4.8 billion , respectively , of the one- to four-family and home equity loans as collateral in support of both its advances and unused borrowing lines . other borrowings 2014prior to 2008 , etbh raised capital through the formation of trusts , which sold trust preferred securities in the capital markets . the capital securities must be redeemed in whole at the due date , which is generally 30 years after issuance . each trust issued floating rate cumulative preferred securities ( 201ctrust preferred securities 201d ) , at par with a liquidation amount of $ 1000 per capital security . the trusts used the proceeds from the sale of issuances to purchase floating rate junior subordinated debentures ( 201csubordinated debentures 201d ) issued by etbh , which guarantees the trust obligations and contributed proceeds from the sale of its subordinated debentures to e*trade bank in the form of a capital contribution . the most recent issuance of trust preferred securities occurred in 2007 . the face values of outstanding trusts at december 31 , 2013 are shown below ( dollars in thousands ) : trusts face value maturity date annual interest rate .
|trusts|face value|maturity date|annual interest rate|
|etbh capital trust ii|$ 5000|2031|10.25% ( 10.25 % )|
|etbh capital trust i|20000|2031|3.75% ( 3.75 % ) above 6-month libor|
|etbh capital trust v vi viii|51000|2032|3.25%-3.65% ( 3.25%-3.65 % ) above 3-month libor|
|etbh capital trust vii ix 2014xii|65000|2033|3.00%-3.30% ( 3.00%-3.30 % ) above 3-month libor|
|etbh capital trust xiii 2014xviii xx|77000|2034|2.45%-2.90% ( 2.45%-2.90 % ) above 3-month libor|
|etbh capital trust xix xxi xxii|60000|2035|2.20%-2.40% ( 2.20%-2.40 % ) above 3-month libor|
|etbh capital trust xxiii 2014xxiv|45000|2036|2.10% ( 2.10 % ) above 3-month libor|
|etbh capital trust xxv 2014xxx|110000|2037|1.90%-2.00% ( 1.90%-2.00 % ) above 3-month libor|
|total|$ 433000|||
.
Question: at december 31 , 2013 what was the ratio of the face values of outstanding trusts 2037 maturities to the 2036
Answer: | 2.44444 |
FINQA4022 | Please answer the given financial question based on the context.
Context: in emerging markets , such as ghana , india , nigeria and uganda , wireless networks tend to be significantly less advanced than those in the united states , and initial voice networks continue to be deployed in underdeveloped areas . a majority of consumers in these markets still utilize basic wireless services , predominantly on feature phones , while advanced device penetration remains low . in more developed urban locations within these markets , early-stage data network deployments are underway . carriers are focused on completing voice network build-outs while also investing in initial data networks as wireless data usage and smartphone penetration within their customer bases begin to accelerate . in markets with rapidly evolving network technology , such as south africa and most of the countries in latin america where we do business , initial voice networks , for the most part , have already been built out , and carriers are focused on 3g and 4g network build outs . consumers in these regions are increasingly adopting smartphones and other advanced devices , and , as a result , the usage of bandwidth-intensive mobile applications is growing materially . recent spectrum auctions in these rapidly evolving markets have allowed incumbent carriers to accelerate their data network deployments and have also enabled new entrants to begin initial investments in data networks . smartphone penetration and wireless data usage in these markets are growing rapidly , which typically requires that carriers continue to invest in their networks in order to maintain and augment their quality of service . finally , in markets with more mature network technology , such as germany and france , carriers are focused on deploying 4g data networks to account for rapidly increasing wireless data usage among their customer base . with higher smartphone and advanced device penetration and significantly higher per capita data usage , carrier investment in networks is focused on 4g coverage and capacity . we believe that the network technology migration we have seen in the united states , which has led to significantly denser networks and meaningful new business commencements for us over a number of years , will ultimately be replicated in our less advanced international markets . as a result , we expect to be able to leverage our extensive international portfolio of approximately 104470 communications sites and the relationships we have built with our carrier customers to drive sustainable , long-term growth . we have master lease agreements with certain of our tenants that provide for consistent , long-term revenue and reduce the likelihood of churn . our master lease agreements build and augment strong strategic partnerships with our tenants and have significantly reduced colocation cycle times , thereby providing our tenants with the ability to rapidly and efficiently deploy equipment on our sites . property operations new site revenue growth . during the year ended december 31 , 2016 , we grew our portfolio of communications real estate through the acquisition and construction of approximately 45310 sites . in a majority of our asia , emea and latin america markets , the revenue generated from newly acquired or constructed sites resulted in increases in both tenant and pass-through revenues ( such as ground rent or power and fuel costs ) and expenses . we continue to evaluate opportunities to acquire communications real estate portfolios , both domestically and internationally , to determine whether they meet our risk-adjusted hurdle rates and whether we believe we can effectively integrate them into our existing portfolio. .
|new sites ( acquired or constructed )|2016|2015|2014|
|u.s .|65|11595|900|
|asia|43865|2330|1560|
|emea|665|4910|190|
|latin america|715|6535|5800|
property operations expenses . direct operating expenses incurred by our property segments include direct site level expenses and consist primarily of ground rent and power and fuel costs , some or all of which may be passed through to our tenants , as well as property taxes , repairs and maintenance . these segment direct operating expenses exclude all segment and corporate selling , general , administrative and development expenses , which are aggregated into one line item entitled selling , general , administrative and development expense in our consolidated statements of operations . in general , our property segments 2019 selling , general , administrative and development expenses do not significantly increase as a result of adding incremental tenants to our sites and typically increase only modestly year-over-year . as a result , leasing additional space to new tenants on our sites provides significant incremental cash flow . we may , however , incur additional segment selling , general , administrative and development expenses as we increase our presence in our existing markets or expand into new markets . our profit margin growth is therefore positively impacted by the addition of new tenants to our sites but can be temporarily diluted by our development activities. .
Question: what is the total number of new sites acquired and constructed during 2016?
Answer: | 45310.0 |
FINQA4023 | Please answer the given financial question based on the context.
Context: building . the construction of the building was completed in december 2003 . due to lower than expected financing and construction costs , the final lease balance was lowered to $ 103.0 million . as part of the agreement , we entered into a five-year lease that began upon the completion of the building . at the end of the lease term , we can purchase the building for the lease balance , remarket or relinquish the building . if we choose to remarket or are required to do so upon relinquishing the building , we are bound to arrange the sale of the building to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 90.8 million ( 201cresidual value guarantee 201d ) . see note 14 in our notes to consolidated financial statements for further information . in august 1999 , we entered into a five-year lease agreement for our other two office buildings that currently serve as our corporate headquarters in san jose , california . under the agreement , we have the option to purchase the buildings at any time during the lease term for the lease balance , which is approximately $ 142.5 million . we are in the process of evaluating alternative financing methods at expiration of the lease in fiscal 2004 and believe that several suitable financing options will be available to us . at the end of the lease term , we can purchase the buildings for the lease balance , remarket or relinquish the buildings . if we choose to remarket or are required to do so upon relinquishing the buildings , we are bound to arrange the sale of the buildings to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 132.6 million ( 201cresidual value guarantee 201d ) . for further information , see note 14 in our notes to consolidated financial statements . the two lease agreements discussed above are subject to standard financial covenants . the agreements limit the amount of indebtedness we can incur . a leverage covenant requires us to keep our debt to ebitda ratio less than 2.5:1.0 . as of november 28 , 2003 , our debt to ebitda ratio was 0.53:1.0 , well within the limit . we also have a liquidity covenant which requires us to maintain a quick ratio equal to or greater than 1.0 . as of november 28 , 2003 , our quick ratio was 2.2 , well above the minimum . we expect to remain within compliance in the next 12 months . we are comfortable with these limitations and believe they will not impact our cash or credit in the coming year or restrict our ability to execute our business plan . the following table summarizes our contractual commitments as of november 28 , 2003 : less than over total 1 year 1 2013 3 years 3-5 years 5 years non-cancelable operating leases , net of sublease income ................ . $ 83.9 $ 23.6 $ 25.9 $ 16.3 $ 18.1 indemnifications in the normal course of business , we provide indemnifications of varying scope to customers against claims of intellectual property infringement made by third parties arising from the use of our products . historically , costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations . we have commitments to make certain milestone and/or retention payments typically entered into in conjunction with various acquisitions , for which we have made accruals in our consolidated financial statements . in connection with our purchases of technology assets during fiscal 2003 , we entered into employee retention agreements totaling $ 2.2 million . we are required to make payments upon satisfaction of certain conditions in the agreements . as permitted under delaware law , we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is , or was serving , at our request in such capacity . the indemnification period covers all pertinent events and occurrences during the officer 2019s or director 2019s lifetime . the maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited ; however , we have director and officer insurance coverage that limits our exposure and enables us to recover a portion of any future amounts paid . we believe the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. .
||total|less than 1 year|1-3 years|3-5 years|over 5 years|
|non-cancelable operating leases net of sublease income|$ 83.9|$ 23.6|$ 25.9|$ 16.3|$ 18.1|
building . the construction of the building was completed in december 2003 . due to lower than expected financing and construction costs , the final lease balance was lowered to $ 103.0 million . as part of the agreement , we entered into a five-year lease that began upon the completion of the building . at the end of the lease term , we can purchase the building for the lease balance , remarket or relinquish the building . if we choose to remarket or are required to do so upon relinquishing the building , we are bound to arrange the sale of the building to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 90.8 million ( 201cresidual value guarantee 201d ) . see note 14 in our notes to consolidated financial statements for further information . in august 1999 , we entered into a five-year lease agreement for our other two office buildings that currently serve as our corporate headquarters in san jose , california . under the agreement , we have the option to purchase the buildings at any time during the lease term for the lease balance , which is approximately $ 142.5 million . we are in the process of evaluating alternative financing methods at expiration of the lease in fiscal 2004 and believe that several suitable financing options will be available to us . at the end of the lease term , we can purchase the buildings for the lease balance , remarket or relinquish the buildings . if we choose to remarket or are required to do so upon relinquishing the buildings , we are bound to arrange the sale of the buildings to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 132.6 million ( 201cresidual value guarantee 201d ) . for further information , see note 14 in our notes to consolidated financial statements . the two lease agreements discussed above are subject to standard financial covenants . the agreements limit the amount of indebtedness we can incur . a leverage covenant requires us to keep our debt to ebitda ratio less than 2.5:1.0 . as of november 28 , 2003 , our debt to ebitda ratio was 0.53:1.0 , well within the limit . we also have a liquidity covenant which requires us to maintain a quick ratio equal to or greater than 1.0 . as of november 28 , 2003 , our quick ratio was 2.2 , well above the minimum . we expect to remain within compliance in the next 12 months . we are comfortable with these limitations and believe they will not impact our cash or credit in the coming year or restrict our ability to execute our business plan . the following table summarizes our contractual commitments as of november 28 , 2003 : less than over total 1 year 1 2013 3 years 3-5 years 5 years non-cancelable operating leases , net of sublease income ................ . $ 83.9 $ 23.6 $ 25.9 $ 16.3 $ 18.1 indemnifications in the normal course of business , we provide indemnifications of varying scope to customers against claims of intellectual property infringement made by third parties arising from the use of our products . historically , costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations . we have commitments to make certain milestone and/or retention payments typically entered into in conjunction with various acquisitions , for which we have made accruals in our consolidated financial statements . in connection with our purchases of technology assets during fiscal 2003 , we entered into employee retention agreements totaling $ 2.2 million . we are required to make payments upon satisfaction of certain conditions in the agreements . as permitted under delaware law , we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is , or was serving , at our request in such capacity . the indemnification period covers all pertinent events and occurrences during the officer 2019s or director 2019s lifetime . the maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited ; however , we have director and officer insurance coverage that limits our exposure and enables us to recover a portion of any future amounts paid . we believe the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. .
Question: what portion of the non-cancelable operating leases net of sublease income is due within the next 12 months?
Answer: | 0.28129 |
FINQA4024 | Please answer the given financial question based on the context.
Context: no . 159 requires that unrealized gains and losses on items for which the fair value option has been elected be reported in earnings at each reporting date . sfas no . 159 is effective for fiscal years beginning after november 15 , 2007 and is required to be adopted by the company beginning in the first quarter of fiscal 2009 . although the company will continue to evaluate the application of sfas no . 159 , management does not currently believe adoption will have a material impact on the company 2019s financial condition or operating results . in september 2006 , the fasb issued sfas no . 157 , fair value measurements , which defines fair value , provides a framework for measuring fair value , and expands the disclosures required for fair value measurements . sfas no . 157 applies to other accounting pronouncements that require fair value measurements ; it does not require any new fair value measurements . sfas no . 157 is effective for fiscal years beginning after november 15 , 2007 and is required to be adopted by the company beginning in the first quarter of fiscal 2009 . although the company will continue to evaluate the application of sfas no . 157 , management does not currently believe adoption will have a material impact on the company 2019s financial condition or operating results . in june 2006 , the fasb issued fasb interpretation no . ( 2018 2018fin 2019 2019 ) 48 , accounting for uncertainty in income taxes-an interpretation of fasb statement no . 109 . fin 48 clarifies the accounting for uncertainty in income taxes by creating a framework for how companies should recognize , measure , present , and disclose in their financial statements uncertain tax positions that they have taken or expect to take in a tax return . fin 48 is effective for fiscal years beginning after december 15 , 2006 and is required to be adopted by the company beginning in the first quarter of fiscal 2008 . although the company will continue to evaluate the application of fin 48 , management does not currently believe adoption will have a material impact on the company 2019s financial condition or operating results . liquidity and capital resources the following table presents selected financial information and statistics for each of the last three fiscal years ( dollars in millions ) : september 29 , september 30 , september 24 , 2007 2006 2005 .
||september 29 2007|september 30 2006|september 24 2005|
|cash cash equivalents and short-term investments|$ 15386|$ 10110|$ 8261|
|accounts receivable net|$ 1637|$ 1252|$ 895|
|inventory|$ 346|$ 270|$ 165|
|working capital|$ 12657|$ 8066|$ 6813|
|annual operating cash flow|$ 5470|$ 2220|$ 2535|
as of september 29 , 2007 , the company had $ 15.4 billion in cash , cash equivalents , and short-term investments , an increase of $ 5.3 billion over the same balance at the end of september 30 , 2006 . the principal components of this net increase were cash generated by operating activities of $ 5.5 billion , proceeds from the issuance of common stock under stock plans of $ 365 million and excess tax benefits from stock-based compensation of $ 377 million . these increases were partially offset by payments for acquisitions of property , plant , and equipment of $ 735 million and payments for acquisitions of intangible assets of $ 251 million . the company 2019s short-term investment portfolio is primarily invested in highly rated , liquid investments . as of september 29 , 2007 and september 30 , 2006 , $ 6.5 billion and $ 4.1 billion , respectively , of the company 2019s cash , cash equivalents , and short-term investments were held by foreign subsidiaries and are generally based in u.s . dollar-denominated holdings . the company believes its existing balances of cash , cash equivalents , and short-term investments will be sufficient to satisfy its working capital needs , capital expenditures , outstanding commitments , and other liquidity requirements associated with its existing operations over the next 12 months. .
Question: what was the highest amount of inventory in the three year period , in millions?
Answer: | 346.0 |
FINQA4025 | Please answer the given financial question based on the context.
Context: application of specific accounting literature . for the nonconsolidated proprietary tob trusts and qspe tob trusts , the company recognizes only its residual investment on its balance sheet at fair value and the third-party financing raised by the trusts is off-balance sheet . the following table summarizes selected cash flow information related to municipal bond securitizations for the years 2008 , 2007 and 2006 : in billions of dollars 2008 2007 2006 .
|in billions of dollars|2008|2007|2006|
|proceeds from new securitizations|$ 1.2|$ 10.5|2014|
|cash flows received on retained interests and other net cash flows|0.5|2014|2014|
cash flows received on retained interests and other net cash flows 0.5 2014 2014 municipal investments municipal investment transactions represent partnerships that finance the construction and rehabilitation of low-income affordable rental housing . the company generally invests in these partnerships as a limited partner and earns a return primarily through the receipt of tax credits earned from the affordable housing investments made by the partnership . client intermediation client intermediation transactions represent a range of transactions designed to provide investors with specified returns based on the returns of an underlying security , referenced asset or index . these transactions include credit-linked notes and equity-linked notes . in these transactions , the spe typically obtains exposure to the underlying security , referenced asset or index through a derivative instrument , such as a total-return swap or a credit-default swap . in turn the spe issues notes to investors that pay a return based on the specified underlying security , referenced asset or index . the spe invests the proceeds in a financial asset or a guaranteed insurance contract ( gic ) that serves as collateral for the derivative contract over the term of the transaction . the company 2019s involvement in these transactions includes being the counterparty to the spe 2019s derivative instruments and investing in a portion of the notes issued by the spe . in certain transactions , the investor 2019s maximum risk of loss is limited and the company absorbs risk of loss above a specified level . the company 2019s maximum risk of loss in these transactions is defined as the amount invested in notes issued by the spe and the notional amount of any risk of loss absorbed by the company through a separate instrument issued by the spe . the derivative instrument held by the company may generate a receivable from the spe ( for example , where the company purchases credit protection from the spe in connection with the spe 2019s issuance of a credit-linked note ) , which is collateralized by the assets owned by the spe . these derivative instruments are not considered variable interests under fin 46 ( r ) and any associated receivables are not included in the calculation of maximum exposure to the spe . structured investment vehicles structured investment vehicles ( sivs ) are spes that issue junior notes and senior debt ( medium-term notes and short-term commercial paper ) to fund the purchase of high quality assets . the junior notes are subject to the 201cfirst loss 201d risk of the sivs . the sivs provide a variable return to the junior note investors based on the net spread between the cost to issue the senior debt and the return realized by the high quality assets . the company acts as manager for the sivs and , prior to december 13 , 2007 , was not contractually obligated to provide liquidity facilities or guarantees to the sivs . in response to the ratings review of the outstanding senior debt of the sivs for a possible downgrade announced by two ratings agencies and the continued reduction of liquidity in the siv-related asset-backed commercial paper and medium-term note markets , on december 13 , 2007 , citigroup announced its commitment to provide support facilities that would support the sivs 2019 senior debt ratings . as a result of this commitment , citigroup became the sivs 2019 primary beneficiary and began consolidating these entities . on february 12 , 2008 , citigroup finalized the terms of the support facilities , which took the form of a commitment to provide $ 3.5 billion of mezzanine capital to the sivs in the event the market value of their junior notes approaches zero . the mezzanine capital facility was increased by $ 1 billion to $ 4.5 billion , with the additional commitment funded during the fourth quarter of 2008 . the facilities rank senior to the junior notes but junior to the commercial paper and medium-term notes . the facilities were at arm 2019s-length terms . interest was paid on the drawn amount of the facilities and a per annum fee was paid on the unused portion . during the period to november 18 , 2008 , the company wrote down $ 3.3 billion on siv assets . in order to complete the wind-down of the sivs , the company , in a nearly cashless transaction , purchased the remaining assets of the sivs at fair value , with a trade date of november 18 , 2008 . the company funded the purchase of the siv assets by assuming the obligation to pay amounts due under the medium-term notes issued by the sivs , as the medium-term notes mature . the net funding provided by the company to fund the purchase of the siv assets was $ 0.3 billion . as of december 31 , 2008 , the carrying amount of the purchased siv assets was $ 16.6 billion , of which $ 16.5 billion is classified as htm assets . investment funds the company is the investment manager for certain investment funds that invest in various asset classes including private equity , hedge funds , real estate , fixed income and infrastructure . the company earns a management fee , which is a percentage of capital under management , and may earn performance fees . in addition , for some of these funds the company has an ownership interest in the investment funds . the company has also established a number of investment funds as opportunities for qualified employees to invest in private equity investments . the company acts as investment manager to these funds and may provide employees with financing on both a recourse and non-recourse basis for a portion of the employees 2019 investment commitments. .
Question: what was the percentage change in proceeds from new securitizations from 2007 to 2008?
Answer: | -0.88571 |
FINQA4026 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries notes to consolidated financial statements the table below presents a summary of level 3 financial assets. .
|$ in millions|as of december 2018|as of december 2017|
|cash instruments|$ 17227|$ 15395|
|derivatives|4948|3802|
|other financial assets|6|4|
|total|$ 22181|$ 19201|
level 3 financial assets as of december 2018 increased compared with december 2017 , primarily reflecting an increase in level 3 cash instruments . see notes 6 through 8 for further information about level 3 financial assets ( including information about unrealized gains and losses related to level 3 financial assets and financial liabilities , and transfers in and out of level 3 ) . note 6 . cash instruments cash instruments include u.s . government and agency obligations , non-u.s . government and agency obligations , mortgage-backed loans and securities , corporate debt instruments , equity securities , investments in funds at nav , and other non-derivative financial instruments owned and financial instruments sold , but not yet purchased . see below for the types of cash instruments included in each level of the fair value hierarchy and the valuation techniques and significant inputs used to determine their fair values . see note 5 for an overview of the firm 2019s fair value measurement policies . level 1 cash instruments level 1 cash instruments include certain money market instruments , u.s . government obligations , most non-u.s . government obligations , certain government agency obligations , certain corporate debt instruments and actively traded listed equities . these instruments are valued using quoted prices for identical unrestricted instruments in active markets . the firm defines active markets for equity instruments based on the average daily trading volume both in absolute terms and relative to the market capitalization for the instrument . the firm defines active markets for debt instruments based on both the average daily trading volume and the number of days with trading activity . level 2 cash instruments level 2 cash instruments include most money market instruments , most government agency obligations , certain non-u.s . government obligations , most mortgage-backed loans and securities , most corporate debt instruments , most state and municipal obligations , most other debt obligations , restricted or less liquid listed equities , commodities and certain lending commitments . valuations of level 2 cash instruments can be verified to quoted prices , recent trading activity for identical or similar instruments , broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency . consideration is given to the nature of the quotations ( e.g. , indicative or firm ) and the relationship of recent market activity to the prices provided from alternative pricing sources . valuation adjustments are typically made to level 2 cash instruments ( i ) if the cash instrument is subject to transfer restrictions and/or ( ii ) for other premiums and liquidity discounts that a market participant would require to arrive at fair value . valuation adjustments are generally based on market evidence . level 3 cash instruments level 3 cash instruments have one or more significant valuation inputs that are not observable . absent evidence to the contrary , level 3 cash instruments are initially valued at transaction price , which is considered to be the best initial estimate of fair value . subsequently , the firm uses other methodologies to determine fair value , which vary based on the type of instrument . valuation inputs and assumptions are changed when corroborated by substantive observable evidence , including values realized on sales . valuation techniques and significant inputs of level 3 cash instruments valuation techniques of level 3 cash instruments vary by instrument , but are generally based on discounted cash flow techniques . the valuation techniques and the nature of significant inputs used to determine the fair values of each type of level 3 cash instrument are described below : loans and securities backed by commercial real estate . loans and securities backed by commercial real estate are directly or indirectly collateralized by a single commercial real estate property or a portfolio of properties , and may include tranches of varying levels of subordination . significant inputs are generally determined based on relative value analyses and include : 2030 market yields implied by transactions of similar or related assets and/or current levels and changes in market indices such as the cmbx ( an index that tracks the performance of commercial mortgage bonds ) ; 118 goldman sachs 2018 form 10-k .
Question: what is the percentage change in total financial assets from 2017 to 2018?
Answer: | 0.1552 |
FINQA4027 | Please answer the given financial question based on the context.
Context: in 2016 , alumina production will be approximately 2500 kmt lower , mostly due to the curtailment of the point comfort and suralco refineries . also , the continued shift towards alumina index and spot pricing is expected to average 85% ( 85 % ) of third-party smelter-grade alumina shipments . additionally , net productivity improvements are anticipated . primary metals .
||2015|2014|2013|
|aluminum production ( kmt )|2811|3125|3550|
|third-party aluminum shipments ( kmt )|2478|2534|2801|
|alcoa 2019s average realized price per metric ton of aluminum*|$ 2069|$ 2405|$ 2243|
|alcoa 2019s average cost per metric ton of aluminum**|$ 2064|$ 2252|$ 2201|
|third-party sales|$ 5591|$ 6800|$ 6596|
|intersegment sales|2170|2931|2621|
|total sales|$ 7761|$ 9731|$ 9217|
|atoi|$ 155|$ 594|$ -20 ( 20 )|
* average realized price per metric ton of aluminum includes three elements : a ) the underlying base metal component , based on quoted prices from the lme ; b ) the regional premium , which represents the incremental price over the base lme component that is associated with the physical delivery of metal to a particular region ( e.g. , the midwest premium for metal sold in the united states ) ; and c ) the product premium , which represents the incremental price for receiving physical metal in a particular shape ( e.g. , billet , slab , rod , etc. ) or alloy . **includes all production-related costs , including raw materials consumed ; conversion costs , such as labor , materials , and utilities ; depreciation and amortization ; and plant administrative expenses . this segment represents a portion of alcoa 2019s upstream operations and consists of the company 2019s worldwide smelting system . primary metals purchases alumina , mostly from the alumina segment ( see alumina above ) , from which primary aluminum is produced and then sold directly to external customers and traders , as well as to alcoa 2019s midstream operations and , to a lesser extent , downstream operations . results from the sale of aluminum powder , scrap , and excess energy are also included in this segment , as well as the results of aluminum derivative contracts and buy/ resell activity . primary aluminum produced by alcoa and used internally is transferred to other segments at prevailing market prices . the sale of primary aluminum represents approximately 90% ( 90 % ) of this segment 2019s third-party sales . buy/ resell activity occurs when this segment purchases metal and resells such metal to external customers or the midstream and downstream operations in order to maximize smelting system efficiency and to meet customer requirements . generally , the sales of this segment are transacted in u.s . dollars while costs and expenses of this segment are transacted in the local currency of the respective operations , which are the u.s . dollar , the euro , the norwegian kroner , icelandic krona , the canadian dollar , the brazilian real , and the australian dollar . in november 2014 , alcoa completed the sale of an aluminum rod plant located in b e9cancour , qu e9bec , canada to sural laminated products . this facility takes molten aluminum and shapes it into the form of a rod , which is used by customers primarily for the transportation of electricity . while owned by alcoa , the operating results and assets and liabilities of this plant were included in the primary metals segment . in conjunction with this transaction , alcoa entered into a multi-year agreement with sural laminated products to supply molten aluminum for the rod plant . the aluminum rod plant generated sales of approximately $ 200 in 2013 and , at the time of divestiture , had approximately 60 employees . see restructuring and other charges in results of operations above . in december 2014 , alcoa completed the sale of its 50.33% ( 50.33 % ) ownership stake in the mt . holly smelter located in goose creek , south carolina to century aluminum company . while owned by alcoa , 50.33% ( 50.33 % ) of both the operating results and assets and liabilities related to the smelter were included in the primary metals segment . as it relates to alcoa 2019s previous 50.33% ( 50.33 % ) ownership stake , the smelter ( alcoa 2019s share of the capacity was 115 kmt-per-year ) generated sales of approximately $ 280 in 2013 and , at the time of divestiture , had approximately 250 employees . see restructuring and other charges in results of operations above . at december 31 , 2015 , alcoa had 778 kmt of idle capacity on a base capacity of 3401 kmt . in 2015 , idle capacity increased 113 kmt compared to 2014 , mostly due to the curtailment of 217 kmt combined at a smelter in each the .
Question: what was the decrease in the number of dollars obtained with the sale of primary aluminum during 2013 and 2014?
Answer: | 183.6 |
FINQA4028 | Please answer the given financial question based on the context.
Context: 2016 compared to 2015 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) . following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) .
||amount ( in millions )|
|2015 net revenue|$ 696.3|
|retail electric price|12.9|
|volume/weather|4.7|
|net wholesale revenue|-2.4 ( 2.4 )|
|reserve equalization|-2.8 ( 2.8 )|
|other|-3.3 ( 3.3 )|
|2016 net revenue|$ 705.4|
the retail electric price variance is primarily due to a $ 19.4 million net annual increase in revenues , as approved by the mpsc , effective with the first billing cycle of july 2016 , and an increase in revenues collected through the storm damage rider . a0 see note 2 to the financial statements for more discussion of the formula rate plan and the storm damage rider . the volume/weather variance is primarily due to an increase of 153 gwh , or 1% ( 1 % ) , in billed electricity usage , including an increase in industrial usage , partially offset by the effect of less favorable weather on residential and commercial sales . the increase in industrial usage is primarily due to expansion projects in the pulp and paper industry , increased demand for existing customers , primarily in the metals industry , and new customers in the wood products industry . the net wholesale revenue variance is primarily due to entergy mississippi 2019s exit from the system agreement in november 2015 . the reserve equalization revenue variance is primarily due to the absence of reserve equalization revenue as compared to the same period in 2015 resulting from entergy mississippi 2019s exit from the system agreement in november other income statement variances 2017 compared to 2016 other operation and maintenance expenses decreased primarily due to : 2022 a decrease of $ 12 million in fossil-fueled generation expenses primarily due to lower long-term service agreement costs and a lower scope of work done during plant outages in 2017 as compared to the same period in 2016 ; and 2022 a decrease of $ 3.6 million in storm damage provisions . see note 2 to the financial statements for a discussion on storm cost recovery . the decrease was partially offset by an increase of $ 4.8 million in energy efficiency costs and an increase of $ 2.7 million in compensation and benefits costs primarily due to higher incentive-based compensation accruals in 2017 as compared to the prior year . entergy mississippi , inc . management 2019s financial discussion and analysis .
Question: in 2016 what was the percentage change in net revenue
Answer: | 0.01307 |
FINQA4029 | Please answer the given financial question based on the context.
Context: measurement point december 31 booking holdings nasdaq composite index s&p 500 rdg internet composite .
|measurement pointdecember 31|booking holdings inc .|nasdaqcomposite index|s&p 500index|rdg internetcomposite|
|2013|100.00|100.00|100.00|100.00|
|2014|98.09|114.62|113.69|96.39|
|2015|109.68|122.81|115.26|133.20|
|2016|126.12|133.19|129.05|140.23|
|2017|149.50|172.11|157.22|202.15|
|2018|148.18|165.84|150.33|201.16|
.
Question: what was the percentage change in booking holding inc . for the five years ended 2018?
Answer: | 0.4818 |
FINQA4030 | Please answer the given financial question based on the context.
Context: echostar communications corporation notes to consolidated financial statements - continued closing price of the class a common stock on the last business day of each calendar quarter in which such shares of class a common stock are deemed sold to an employee under the espp . the espp shall terminate upon the first to occur of ( i ) october 1 , 2007 or ( ii ) the date on which the espp is terminated by the board of directors . during 2000 , 2001 and 2002 employees purchased approximately 58000 ; 80000 and 108000 shares of class a common stock through the espp , respectively . 401 ( k ) employee savings plan echostar sponsors a 401 ( k ) employee savings plan ( the 201c401 ( k ) plan 201d ) for eligible employees . voluntary employee contributions to the 401 ( k ) plan may be matched 50% ( 50 % ) by echostar , subject to a maximum annual contribution by echostar of $ 1000 per employee . matching 401 ( k ) contributions totaled approximately $ 1.6 million , $ 2.1 million and $ 2.4 million during the years ended december 31 , 2000 , 2001 and 2002 , respectively . echostar also may make an annual discretionary contribution to the plan with approval by echostar 2019s board of directors , subject to the maximum deductible limit provided by the internal revenue code of 1986 , as amended . these contributions may be made in cash or in echostar stock . forfeitures of unvested participant balances which are retained by the 401 ( k ) plan may be used to fund matching and discretionary contributions . expense recognized relating to discretionary contributions was approximately $ 7 million , $ 225 thousand and $ 17 million during the years ended december 31 , 2000 , 2001 and 2002 , respectively . 9 . commitments and contingencies leases future minimum lease payments under noncancelable operating leases as of december 31 , 2002 , are as follows ( in thousands ) : year ending december 31 .
|2003|$ 17274|
|2004|14424|
|2005|11285|
|2006|7698|
|2007|3668|
|thereafter|1650|
|total minimum lease payments|55999|
total rent expense for operating leases approximated $ 9 million , $ 14 million and $ 16 million in 2000 , 2001 and 2002 , respectively . purchase commitments as of december 31 , 2002 , echostar 2019s purchase commitments totaled approximately $ 359 million . the majority of these commitments relate to echostar receiver systems and related components . all of the purchases related to these commitments are expected to be made during 2003 . echostar expects to finance these purchases from existing unrestricted cash balances and future cash flows generated from operations . patents and intellectual property many entities , including some of echostar 2019s competitors , now have and may in the future obtain patents and other intellectual property rights that cover or affect products or services directly or indirectly related to those that echostar offers . echostar may not be aware of all patents and other intellectual property rights that its products may potentially infringe . damages in patent infringement cases can include a tripling of actual damages in certain cases . further , echostar cannot estimate the extent to which it may be required in the future to obtain licenses with respect to .
Question: during 2000 , 2001 and 2002 , what were total employee purchases through the espp?
Answer: | 246000.0 |
FINQA4031 | Please answer the given financial question based on the context.
Context: in september 2006 , the fasb issued sfas 158 , 201cemployers 2019 accounting for defined benefit pension and other postretirement plans , an amendment of fasb statements no . 87 , 88 , 106 , and 132 ( r ) . 201d sfas 158 requires companies to recognize the over-funded and under-funded status of defined benefit pension and other postretire- ment plans as assets or liabilities on their balance sheets . in addition , changes in the funded status must be recognized through other comprehensive income in shareholders 2019 equity in the year in which the changes occur . we adopted sfas 158 on september 28 , 2007 . in accordance with the transition rules in sfas 158 , this standard is being adopted on a prospective basis . the adoption of sfas 158 resulted in an immaterial adjustment to our balance sheet , and had no impact on our net earnings or cash flows . comprehensive income ( loss ) the company accounts for comprehensive income ( loss ) in accordance with the provisions of sfas no . 130 , 201creporting comprehensive income 201d ( 201csfas no . 130 201d ) . sfas no . 130 is a financial statement presentation standard that requires the company to disclose non-owner changes included in equity but not included in net income or loss . accumulated comprehensive loss presented in the financial statements consists of adjustments to the company 2019s minimum pension liability as follows ( in thousands ) : pension adjustments accumulated comprehensive .
||pension adjustments|accumulated other comprehensive loss|
|balance as of september 30 2005|-1137 ( 1137 )|-1137 ( 1137 )|
|change in period|538|538|
|balance as of september 29 2006|$ -599 ( 599 )|$ -599 ( 599 )|
|pension adjustment|159|159|
|adjustment to initially apply sfas 158|226|226|
|balance as of september 28 2007|$ -214 ( 214 )|$ -214 ( 214 )|
recently issued accounting pronouncements fin 48 in july 2006 , the fasb issued fasb interpretation no . 48 , 201caccounting for uncertainty in income taxes 2014 an interpretation of fasb statement no . 109 201d ( fin 48 ) , which clarifies the accounting and disclosure for uncertainty in tax positions , as defined . fin 48 seeks to reduce the diversity in practice associated with certain aspects of the recognition and measurement related to accounting for income taxes . this interpretation is effective for fiscal years beginning after december 15 , 2006 , and is therefore effective for the company in fiscal year 2008 . we are currently evaluating the impact that adopting fin 48 will have on the company 2019s financial position and results of operations , however at this time the company does not expect the impact to materially affect its results from operations or financial position . sfas 157 in september 2006 , the fasb issued sfas no . 157 , 201cfair value measurements 201d ( 201csfas 157 201d ) which defines fair value , establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements . sfas 157 is effective for financial statements issued for fiscal years beginning after november 15 , 2007 and interim periods within those fiscal years . the company has not yet determined the impact that sfas 157 will have on its results from operations or financial position . sab 108 in september 2006 , the securities and exchange commission issued staff accounting bulletin no . 108 , 201cconsidering the effects of prior year misstatements when quantifying misstatements in current year financial statements 201d ( 201csab 108 201d ) , which provides interpretive guidance on how the effects of the carryover or reversal of skyworks solutions , inc . 2007 annual report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . notes to consolidated financial statements 2014 ( continued ) .
Question: what is the net change in pension liability balance from september 2006 to september 2007?
Answer: | 385.0 |
FINQA4032 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis 102 jpmorgan chase & co./2016 annual report derivative contracts in the normal course of business , the firm uses derivative instruments predominantly for market-making activities . derivatives enable customers to manage exposures to fluctuations in interest rates , currencies and other markets . the firm also uses derivative instruments to manage its own credit and other market risk exposure . the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed . for otc derivatives the firm is exposed to the credit risk of the derivative counterparty . for exchange- traded derivatives ( 201cetd 201d ) , such as futures and options and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp . where possible , the firm seeks to mitigate its credit risk exposures arising from derivative transactions through the use of legally enforceable master netting arrangements and collateral agreements . for further discussion of derivative contracts , counterparties and settlement types , see note 6 . the following table summarizes the net derivative receivables for the periods presented . derivative receivables .
|december 31 ( in millions )|2016|2015|
|interest rate|$ 28302|$ 26363|
|credit derivatives|1294|1423|
|foreign exchange|23271|17177|
|equity|4939|5529|
|commodity|6272|9185|
|total net of cash collateral|64078|59677|
|liquid securities and other cash collateral held against derivative receivables ( a )|-22705 ( 22705 )|-16580 ( 16580 )|
|total net of all collateral|$ 41373|$ 43097|
( a ) includes collateral related to derivative instruments where an appropriate legal opinion has not been either sought or obtained . derivative receivables reported on the consolidated balance sheets were $ 64.1 billion and $ 59.7 billion at december 31 , 2016 and 2015 , respectively . these amounts represent the fair value of the derivative contracts after giving effect to legally enforceable master netting agreements and cash collateral held by the firm . however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s . government and agency securities and other group of seven nations ( 201cg7 201d ) government bonds ) and other cash collateral held by the firm aggregating $ 22.7 billion and $ 16.6 billion at december 31 , 2016 and 2015 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor . the change in derivative receivables was predominantly related to client-driven market-making activities in cib . the increase in derivative receivables reflected the impact of market movements , which increased foreign exchange receivables , partially offset by reduced commodity derivative receivables . in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily cash , g7 government securities , other liquid government-agency and guaranteed securities , and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date . although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative transactions move in the firm 2019s favor . the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit . for additional information on the firm 2019s use of collateral agreements , see note 6 . while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure . to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) . these measures all incorporate netting and collateral benefits , where applicable . peak represents a conservative measure of potential exposure to a counterparty calculated in a manner that is broadly equivalent to a 97.5% ( 97.5 % ) confidence level over the life of the transaction . peak is the primary measure used by the firm for setting of credit limits for derivative transactions , senior management reporting and derivatives exposure management . dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be equivalent to the risk of loan exposures . dre is a less extreme measure of potential credit loss than peak and is used for aggregating derivative credit risk exposures with loans and other credit risk . finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral . avg exposure over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit capital and the cva , as further described below . the three year avg exposure was $ 31.1 billion and $ 32.4 billion at december 31 , 2016 and 2015 , respectively , compared with derivative receivables , net of all collateral , of $ 41.4 billion and $ 43.1 billion at december 31 , 2016 and 2015 , respectively . the fair value of the firm 2019s derivative receivables incorporates an adjustment , the cva , to reflect the credit quality of counterparties . the cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market . the primary components of changes in cva are credit spreads , new deal activity or unwinds , and changes in the underlying market environment . the firm believes that active risk management is essential to controlling the dynamic credit .
Question: what was the ratio of the avg exposure compared with derivative receivables , net of all collateral in 2016
Answer: | 0.75121 |
FINQA4033 | Please answer the given financial question based on the context.
Context: other purchases or sales of equity securities the following chart discloses information regarding shares of snap-on 2019s common stock that were sold by citibank , n.a . ( 201ccitibank 201d ) during the fourth quarter of 2013 pursuant to a prepaid equity forward transaction agreement ( the 201cagreement 201d ) with citibank that is intended to reduce the impact of market risk associated with the stock-based portion of the company 2019s deferred compensation plans . the company 2019s stock-based deferred compensation liabilities , which are impacted by changes in the company 2019s stock price , increase as the company 2019s stock price rises and decrease as the company 2019s stock price declines . pursuant to the agreement , citibank may purchase or sell shares of the company 2019s common stock ( for citibank 2019s account ) in the market or in privately negotiated transactions . the agreement has no stated expiration date , but the parties expect that each transaction under the agreement will have a term of approximately one year . the agreement does not provide for snap-on to purchase or repurchase shares . the following chart discloses information regarding citibank 2019s sales of snap-on common stock during the fourth quarter of 2013 pursuant to the agreement : period shares sold average per share .
|period|shares sold|averagepriceper share|
|09/29/13 to 10/26/13|2013|2013|
|10/27/13 to 11/23/13|2013|2013|
|11/24/13 to 12/28/13|5000|$ 106.32|
|total/average|5000|$ 106.32|
2013 annual report 23 .
Question: what is the total cash received from the sales of common stock during the 4th quarter of 2013?
Answer: | 531600.0 |
FINQA4034 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries management's financial discussion and analysis the retail electric price variance resulted from rate increases primarily at entergy louisiana effective september 2006 for the 2005 formula rate plan filing to recover lpsc-approved incremental deferred and ongoing purchased power capacity costs . the formula rate plan filing is discussed in note 2 to the financial statements . the volume/weather variance resulted primarily from increased electricity usage in the residential and commercial sectors , including increased usage during the unbilled sales period . billed retail electricity usage increased by a total of 1591 gwh , an increase of 1.6% ( 1.6 % ) . see "critical accounting estimates" herein and note 1 to the financial statements for a discussion of the accounting for unbilled revenues . the fuel recovery variance is primarily due to the inclusion of grand gulf costs in entergy new orleans' fuel recoveries effective july 1 , 2006 . in june 2006 , the city council approved the recovery of grand gulf costs through the fuel adjustment clause , without a corresponding change in base rates ( a significant portion of grand gulf costs was previously recovered through base rates ) . the increase is also due to purchased power costs deferred at entergy louisiana and entergy new orleans as a result of the re-pricing , retroactive to 2003 , of purchased power agreements among entergy system companies as directed by the ferc . the transmission revenue variance is due to higher rates and the addition of new transmission customers in late-2006 . the purchased power capacity variance is due to higher capacity charges and new purchased power contracts that began in mid-2006 . a portion of the variance is due to the amortization of deferred capacity costs and is offset in base revenues due to base rate increases implemented to recover incremental deferred and ongoing purchased power capacity charges at entergy louisiana , as discussed above . the net wholesale revenue variance is due primarily to 1 ) more energy available for resale at entergy new orleans in 2006 due to the decrease in retail usage caused by customer losses following hurricane katrina and 2 ) the inclusion in 2006 revenue of sales into the wholesale market of entergy new orleans' share of the output of grand gulf , pursuant to city council approval of measures proposed by entergy new orleans to address the reduction in entergy new orleans' retail customer usage caused by hurricane katrina and to provide revenue support for the costs of entergy new orleans' share of grand gulf . the net wholesale revenue variance is partially offset by the effect of lower wholesale revenues in the third quarter 2006 due to an october 2006 ferc order requiring entergy arkansas to make a refund to a coal plant co-owner resulting from a contract dispute . non-utility nuclear following is an analysis of the change in net revenue comparing 2007 to 2006 . amount ( in millions ) .
||amount ( in millions )|
|2006 net revenue|$ 1388|
|realized price changes|264|
|palisades acquisition|209|
|volume variance ( other than palisades )|-56 ( 56 )|
|other|34|
|2007 net revenue|$ 1839|
as shown in the table above , net revenue increased for non-utility nuclear by $ 451 million , or 33% ( 33 % ) , for 2007 compared to 2006 primarily due to higher pricing in its contracts to sell power and additional production available resulting from the acquisition of the palisades plant in april 2007 . included in the palisades net revenue is $ 50 million of amortization of the palisades purchased power agreement in 2007 , which is non-cash revenue and is discussed in note 15 to the financial statements . the increase was partially offset by the effect on revenues of four .
Question: what percent of 2017 net revenue did realized price changes account for?
Answer: | 0.14356 |
FINQA4035 | Please answer the given financial question based on the context.
Context: customer demand . this compared with 555000 tons of total downtime in 2006 of which 150000 tons related to lack-of-orders . printing papers in millions 2007 2006 2005 .
|in millions|2007|2006|2005|
|sales|$ 6530|$ 6700|$ 6980|
|operating profit|$ 1101|$ 636|$ 434|
north american printing papers net sales in 2007 were $ 3.5 billion compared with $ 4.4 billion in 2006 ( $ 3.5 billion excluding the coated and super- calendered papers business ) and $ 4.8 billion in 2005 ( $ 3.2 billion excluding the coated and super- calendered papers business ) . sales volumes decreased in 2007 versus 2006 partially due to reduced production capacity resulting from the conversion of the paper machine at the pensacola mill to the production of lightweight linerboard for our industrial packaging segment . average sales price realizations increased significantly , reflecting benefits from price increases announced throughout 2007 . lack-of-order downtime declined to 27000 tons in 2007 from 40000 tons in 2006 . operating earnings of $ 537 million in 2007 increased from $ 482 million in 2006 ( $ 407 million excluding the coated and supercalendered papers business ) and $ 175 million in 2005 ( $ 74 million excluding the coated and supercalendered papers business ) . the benefits from improved average sales price realizations more than offset the effects of higher input costs for wood , energy , and freight . mill operations were favorable compared with the prior year due to current-year improvements in machine performance and energy conservation efforts . sales volumes for the first quarter of 2008 are expected to increase slightly , and the mix of prod- ucts sold to improve . demand for printing papers in north america was steady as the quarter began . price increases for cut-size paper and roll stock have been announced that are expected to be effective principally late in the first quarter . planned mill maintenance outage costs should be about the same as in the fourth quarter ; however , raw material costs are expected to continue to increase , primarily for wood and energy . brazil ian papers net sales for 2007 of $ 850 mil- lion were higher than the $ 495 million in 2006 and the $ 465 million in 2005 . compared with 2006 , aver- age sales price realizations improved reflecting price increases for uncoated freesheet paper realized dur- ing the second half of 2006 and the first half of 2007 . excluding the impact of the luiz antonio acquisition , sales volumes increased primarily for cut size and offset paper . operating profits for 2007 of $ 246 mil- lion were up from $ 122 million in 2006 and $ 134 mil- lion in 2005 as the benefits from higher sales prices and favorable manufacturing costs were only parti- ally offset by higher input costs . contributions from the luiz antonio acquisition increased net sales by approximately $ 350 million and earnings by approx- imately $ 80 million in 2007 . entering 2008 , sales volumes for uncoated freesheet paper and pulp should be seasonally lower . average price realizations should be essentially flat , but mar- gins are expected to reflect a less favorable product mix . energy costs , primarily for hydroelectric power , are expected to increase significantly reflecting a lack of rainfall in brazil in the latter part of 2007 . european papers net sales in 2007 were $ 1.5 bil- lion compared with $ 1.3 billion in 2006 and $ 1.2 bil- lion in 2005 . sales volumes in 2007 were higher than in 2006 at our eastern european mills reflecting stronger market demand and improved efficiencies , but lower in western europe reflecting the closure of the marasquel mill in 2006 . average sales price real- izations increased significantly in 2007 in both east- ern and western european markets . operating profits of $ 214 million in 2007 increased from a loss of $ 16 million in 2006 and earnings of $ 88 million in 2005 . the loss in 2006 reflects the impact of a $ 128 million impairment charge to reduce the carrying value of the fixed assets at the saillat , france mill . excluding this charge , the improvement in 2007 compared with 2006 reflects the contribution from higher net sales , partially offset by higher input costs for wood , energy and freight . looking ahead to the first quarter of 2008 , sales volumes are expected to be stable in western europe , but seasonally weaker in eastern europe and russia . average price realizations are expected to remain about flat . wood costs are expected to increase , especially in russia due to strong demand ahead of tariff increases , and energy costs are anticipated to be seasonally higher . asian printing papers net sales were approx- imately $ 20 million in 2007 , compared with $ 15 mil- lion in 2006 and $ 10 million in 2005 . operating earnings increased slightly in 2007 , but were close to breakeven in all periods . u.s . market pulp sales in 2007 totaled $ 655 mil- lion compared with $ 510 million and $ 525 million in 2006 and 2005 , respectively . sales volumes in 2007 were up from 2006 levels , primarily for paper and .
Question: what percent of printing papers sales in 2007 was from north american printing papers net sales?
Answer: | 0.53599 |
FINQA4036 | Please answer the given financial question based on the context.
Context: zimmer holdings , inc . 2013 form 10-k annual report notes to consolidated financial statements ( continued ) fees paid to collaborative partners . where contingent milestone payments are due to third parties under research and development arrangements , the milestone payment obligations are expensed when the milestone results are achieved . litigation 2013 we record a liability for contingent losses , including future legal costs , settlements and judgments , when we consider it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated . special items 2013 we recognize expenses resulting directly from our business combinations , employee termination benefits , certain r&d agreements , certain contract terminations , consulting and professional fees and asset impairment or loss on disposal charges connected with global restructuring , operational and quality excellence initiatives , and other items as 201cspecial items 201d in our consolidated statement of earnings . 201cspecial items 201d included ( in millions ) : .
|for the years ended december 31,|2013|2012|2011|
|impairment/loss on disposal of assets|$ 10.9|$ 14.6|$ 8.4|
|consulting and professional fees|99.1|90.1|26.0|
|employee severance and retention including share-based compensation acceleration|14.2|8.2|23.1|
|dedicated project personnel|34.0|15.1|3.2|
|certain r&d agreements|0.8|2013|2013|
|relocated facilities|3.6|1.8|2013|
|distributor acquisitions|0.4|0.8|2.0|
|certain litigation matters|26.9|13.7|0.1|
|contract terminations|3.9|6.6|6.3|
|contingent consideration adjustments|9.0|-2.8 ( 2.8 )|2013|
|accelerated software amortization|6.0|4.5|2013|
|other|7.9|2.8|6.1|
|special items|$ 216.7|$ 155.4|$ 75.2|
impairment/ loss on disposal of assets relates to impairment of intangible assets that were acquired in business combinations or impairment of or a loss on the disposal of other assets . consulting and professional fees relate to third-party consulting , professional fees and contract labor related to our quality and operational excellence initiatives , third-party consulting fees related to certain information system implementations , third-party integration consulting performed in a variety of areas such as tax , compliance , logistics and human resources for our business combinations , third-party fees related to severance and termination benefits matters and legal fees related to certain product liability matters . our quality and operational excellence initiatives are company- wide and include improvements in quality , distribution , sourcing , manufacturing and information technology , among other areas . in 2013 , 2012 and 2011 , we eliminated positions as we reduced management layers , restructured certain areas , announced closures of certain facilities , and commenced initiatives to focus on business opportunities that best support our strategic priorities . in 2013 , 2012 and 2011 , approximately 170 , 400 and 500 positions , respectively , from across the globe were affected by these actions . as a result of these changes in our work force and headcount reductions in connection with acquisitions , we incurred expenses related to severance benefits , redundant salaries as we worked through transition periods , share-based compensation acceleration and other employee termination-related costs . the majority of these termination benefits were provided in accordance with our existing or local government policies and are considered ongoing benefits . these costs were accrued when they became probable and estimable and were recorded as part of other current liabilities . the majority of these costs were paid during the year they were incurred . dedicated project personnel expenses include the salary , benefits , travel expenses and other costs directly associated with employees who are 100 percent dedicated to our operational and quality excellence initiatives or integration of acquired businesses . certain r&d agreements relate to agreements with upfront payments to obtain intellectual property to be used in r&d projects that have no alternative future use in other projects . relocated facilities expenses are the moving costs and the lease expenses incurred during the relocation period in connection with relocating certain facilities . over the past few years we have acquired a number of u.s . and foreign-based distributors . we have incurred various costs related to the consummation and integration of those businesses . certain litigation matters relate to costs and adjustments recognized during the year for the estimated or actual settlement of various legal matters , including royalty disputes , patent litigation matters , commercial litigation matters and matters arising from our acquisitions of certain competitive distributorships in prior years . contract termination costs relate to terminated agreements in connection with the integration of acquired companies and changes to our distribution model as part of business restructuring and operational excellence initiatives . the terminated contracts primarily relate to sales agents and distribution agreements . contingent consideration adjustments represent the changes in the fair value of contingent consideration obligations to be paid to the prior owners of acquired businesses . accelerated software amortization is the incremental amortization resulting from a reduction in the estimated life of certain software . in 2012 , we approved a plan to replace certain software . as a result , the estimated economic useful life of the existing software was decreased to represent the period of time expected to implement replacement software . as a result , the amortization from the shortened life of this software is substantially higher than the previous amortization being recognized . cash and cash equivalents 2013 we consider all highly liquid investments with an original maturity of three months or less to be cash equivalents . the carrying amounts reported in the balance sheet for cash and cash equivalents are valued at cost , which approximates their fair value. .
Question: what is the percent change in accelerated software amortization from 2012 to 2013?
Answer: | 0.33333 |
FINQA4037 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis of financial condition and results of operations state street corporation | 89 $ 65.35 billion and $ 87.20 billion as of december 31 , 2017 and december 31 , 2016 , respectively . table 29 : components of average hqla by type of ( in millions ) december 31 , december 31 .
|( in millions )|december 31 2017|december 31 2016|
|excess central bank balances|$ 33584|$ 48407|
|u.s . treasuries|10278|17770|
|other investment securities|13422|15442|
|foreign government|8064|5585|
|total|$ 65348|$ 87204|
with respect to highly liquid short-term investments presented in the preceding table , due to the continued elevated level of client deposits as of december 31 , 2017 , we maintained cash balances in excess of regulatory requirements governing deposits with the federal reserve of approximately $ 33.58 billion at the federal reserve , the ecb and other non-u.s . central banks , compared to $ 48.40 billion as of december 31 , 2016 . the lower levels of deposits with central banks as of december 31 , 2017 compared to december 31 , 2016 was due to normal deposit volatility . liquid securities carried in our asset liquidity include securities pledged without corresponding advances from the frbb , the fhlb , and other non- u.s . central banks . state street bank is a member of the fhlb . this membership allows for advances of liquidity in varying terms against high-quality collateral , which helps facilitate asset-and-liability management . access to primary , intra-day and contingent liquidity provided by these utilities is an important source of contingent liquidity with utilization subject to underlying conditions . as of december 31 , 2017 and december 31 , 2016 , we had no outstanding primary credit borrowings from the frbb discount window or any other central bank facility , and as of the same dates , no fhlb advances were outstanding . in addition to the securities included in our asset liquidity , we have significant amounts of other unencumbered investment securities . the aggregate fair value of those securities was $ 66.10 billion as of december 31 , 2017 , compared to $ 54.40 billion as of december 31 , 2016 . these securities are available sources of liquidity , although not as rapidly deployed as those included in our asset liquidity . measures of liquidity include lcr , nsfr and tlac which are described in "supervision and regulation" included under item 1 , business , of this form 10-k . uses of liquidity significant uses of our liquidity could result from the following : withdrawals of client deposits ; draw- downs of unfunded commitments to extend credit or to purchase securities , generally provided through lines of credit ; and short-duration advance facilities . such circumstances would generally arise under stress conditions including deterioration in credit ratings . a recurring significant use of our liquidity involves our deployment of hqla from our investment portfolio to post collateral to financial institutions and participants in our agency lending program serving as sources of securities under our enhanced custody program . we had unfunded commitments to extend credit with gross contractual amounts totaling $ 26.49 billion and $ 26.99 billion as of december 31 , 2017 and december 31 , 2016 , respectively . these amounts do not reflect the value of any collateral . as of december 31 , 2017 , approximately 72% ( 72 % ) of our unfunded commitments to extend credit expire within one year . since many of our commitments are expected to expire or renew without being drawn upon , the gross contractual amounts do not necessarily represent our future cash requirements . information about our resolution planning and the impact actions under our resolution plans could have on our liquidity is provided in "supervision and regulation" included under item 1 . business , of this form 10-k . funding deposits we provide products and services including custody , accounting , administration , daily pricing , foreign exchange services , cash management , financial asset management , securities finance and investment advisory services . as a provider of these products and services , we generate client deposits , which have generally provided a stable , low-cost source of funds . as a global custodian , clients place deposits with state street entities in various currencies . as of december 31 , 2017 and december 31 , 2016 , approximately 60% ( 60 % ) of our average client deposit balances were denominated in u.s . dollars , approximately 20% ( 20 % ) in eur , 10% ( 10 % ) in gbp and 10% ( 10 % ) in all other currencies . for the past several years , we have frequently experienced higher client deposit inflows toward the end of each fiscal quarter or the end of the fiscal year . as a result , we believe average client deposit balances are more reflective of ongoing funding than period-end balances. .
Question: what is the percent change excess central bank balances from 2016 to 2017?
Answer: | 0.30622 |
FINQA4038 | Please answer the given financial question based on the context.
Context: incentive compensation expense ( $ 8.2 million ) and related fringe benefit costs ( $ 1.4 million ) , and higher warehousing costs due to customer requirements ( $ 2.0 million ) . corporate overhead for the year ended december 31 , 2006 , increased $ 3.1 million , or 6.5% ( 6.5 % ) , from the year ended december 31 , 2005 . the increase was primarily attributable to higher incentive compensation expense ( $ 2.6 million ) and other increased costs which were not individually significant . other expense , net , decreased $ 2.1 million , or 20.1% ( 20.1 % ) for the year ended december 31 , 2006 compared to the year ended december 31 , 2005 . the decrease was primarily due to a $ 3.1 million decrease in expenses related to the disposals of property , plant and equipment as part of planned disposals in connection with capital projects . partially offsetting the decrease in fixed asset disposal expense was higher legal expenses ( $ 0.5 million ) and increased losses on disposals of storeroom items ( $ 0.4 million ) . interest expense , net and income taxes interest expense , net of interest income , increased by $ 3.1 million , or 11.1% ( 11.1 % ) , for the year ended december 31 , 2006 compared to the full year 2005 , primarily as a result of higher interest expense on our variable rate debt due to higher interest rates . pca 2019s effective tax rate was 35.8% ( 35.8 % ) for the year ended december 31 , 2006 and 40.2% ( 40.2 % ) for the year ended december 31 , 2005 . the lower tax rate in 2006 is primarily due to a larger domestic manufacturer 2019s deduction and a reduction in the texas state tax rate . for both years 2006 and 2005 , tax rates were higher than the federal statutory rate of 35.0% ( 35.0 % ) due to state income taxes . year ended december 31 , 2005 compared to year ended december 31 , 2004 the historical results of operations of pca for the years ended december 31 , 2005 and 2004 are set forth below : for the year ended december 31 , ( in millions ) 2005 2004 change .
|( in millions )|for the year ended december 31 , 2005|for the year ended december 31 , 2004|change|
|net sales|$ 1993.7|$ 1890.1|$ 103.6|
|income from operations|$ 116.1|$ 140.5|$ -24.4 ( 24.4 )|
|interest expense net|-28.1 ( 28.1 )|-29.6 ( 29.6 )|1.5|
|income before taxes|88.0|110.9|-22.9 ( 22.9 )|
|provision for income taxes|-35.4 ( 35.4 )|-42.2 ( 42.2 )|6.8|
|net income|$ 52.6|$ 68.7|$ -16.1 ( 16.1 )|
net sales net sales increased by $ 103.6 million , or 5.5% ( 5.5 % ) , for the year ended december 31 , 2005 from the year ended december 31 , 2004 . net sales increased primarily due to increased sales prices and volumes of corrugated products compared to 2004 . total corrugated products volume sold increased 4.2% ( 4.2 % ) to 31.2 billion square feet in 2005 compared to 29.9 billion square feet in 2004 . on a comparable shipment-per-workday basis , corrugated products sales volume increased 4.6% ( 4.6 % ) in 2005 from 2004 . excluding pca 2019s acquisition of midland container in april 2005 , corrugated products volume was 3.0% ( 3.0 % ) higher in 2005 than 2004 and up 3.4% ( 3.4 % ) compared to 2004 on a shipment-per-workday basis . shipments-per-workday is calculated by dividing our total corrugated products volume during the year by the number of workdays within the year . the larger percentage increase was due to the fact that 2005 had one less workday ( 250 days ) , those days not falling on a weekend or holiday , than 2004 ( 251 days ) . containerboard sales volume to external domestic and export customers decreased 12.2% ( 12.2 % ) to 417000 tons for the year ended december 31 , 2005 from 475000 tons in 2004. .
Question: pca 2019s effective tax rate decreased by how many percentage points for the year ended december 31 , 2006 compared to the year ended december 31 , 2005?
Answer: | 4.4 |
FINQA4039 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) stock-based compensation 2014the company complies with the provisions of sfas no . 148 , 201caccounting for stock-based compensation 2014transition and disclosure 2014an amendment of sfas no . 123 , 201d which provides optional transition guidance for those companies electing to voluntarily adopt the accounting provisions of sfas no . 123 . the company continues to use accounting principles board opinion no . 25 ( apb no . 25 ) , 201caccounting for stock issued to employees , 201d to account for equity grants and awards to employees , officers and directors and has adopted the disclosure-only provisions of sfas no . 148 . in accordance with apb no . 25 , the company recognizes compensation expense based on the excess , if any , of the quoted stock price at the grant date of the award or other measurement date over the amount an employee must pay to acquire the stock . the company 2019s stock option plans are more fully described in note 13 . in december 2004 , the fasb issued sfas no . 123r , 201cshare-based payment 201d ( sfas no . 123r ) , described below . the following table illustrates the effect on net loss and net loss per share if the company had applied the fair value recognition provisions of sfas no . 123 ( as amended ) to stock-based compensation . the estimated fair value of each option is calculated using the black-scholes option-pricing model ( in thousands , except per share amounts ) : .
||2004|2003|2002|
|net loss as reported|$ -247587 ( 247587 )|$ -325321 ( 325321 )|$ -1163540 ( 1163540 )|
|add : stock-based employee compensation expense associated with modifications net of related tax effect included in net loss asreported|2297|2077||
|less : total stock-based employee compensation expense determined under fair value based method for all awards net of related taxeffect|-23906 ( 23906 )|-31156 ( 31156 )|-38126 ( 38126 )|
|pro-forma net loss|$ -269196 ( 269196 )|$ -354400 ( 354400 )|$ -1201666 ( 1201666 )|
|basic and diluted net loss per share 2014as reported|$ -1.10 ( 1.10 )|$ -1.56 ( 1.56 )|$ -5.95 ( 5.95 )|
|basic and diluted net loss per share pro-forma|$ -1.20 ( 1.20 )|$ -1.70 ( 1.70 )|$ -6.15 ( 6.15 )|
during the year ended december 31 , 2004 and 2003 , the company modified certain option awards to accelerate vesting and recorded charges of $ 3.0 million and $ 2.3 million , respectively , and corresponding increases to additional paid in capital in the accompanying consolidated financial statements . fair value of financial instruments 2014the carrying values of the company 2019s financial instruments , with the exception of long-term obligations , including current portion , reasonably approximate the related fair values as of december 31 , 2004 and 2003 . as of december 31 , 2004 , the carrying amount and fair value of long-term obligations , including current portion , were $ 3.3 billion and $ 3.6 billion , respectively . as of december 31 , 2003 , the carrying amount and fair value of long-term obligations , including current portion , were $ 3.4 billion and $ 3.6 billion , respectively . fair values are based primarily on quoted market prices for those or similar instruments . retirement plan 2014the company has a 401 ( k ) plan covering substantially all employees who meet certain age and employment requirements . under the plan , the company matching contribution for periods prior to june 30 , 2004 was 35% ( 35 % ) up to a maximum 5% ( 5 % ) of a participant 2019s contributions . effective july 1 , 2004 , the plan was amended to increase the company match to 50% ( 50 % ) up to a maximum 6% ( 6 % ) of a participant 2019s contributions . the company contributed approximately $ 533000 , $ 825000 and $ 979000 to the plan for the years ended december 31 , 2004 , 2003 and 2002 , respectively . recent accounting pronouncements 2014in december 2004 , the fasb issued sfas no . 123r , which is a revision of sfas no . 123 , 201caccounting for stock-based compensation , 201d and supersedes apb no . 25 , accounting for .
Question: what was the percentage increase in the employee contribution from 2002 to 2003
Answer: | -0.1573 |
FINQA4040 | Please answer the given financial question based on the context.
Context: remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 90.8 million ( 201cresidual value guarantee 201d ) . in august 1999 , we entered into a five-year lease agreement for our other two office buildings that currently serve as our corporate headquarters in san jose , california . under the agreement , we have the option to purchase the buildings at any time during the lease term for the lease balance , which is approximately $ 142.5 million . the lease is subject to standard covenants including liquidity , leverage and profitability ratios that are reported to the lessor quarterly . as of november 28 , 2003 , we were in compliance with all covenants . in the case of a default , the lessor may demand we purchase the buildings for an amount equal to the lease balance , or require that we remarket or relinquish the buildings . the agreement qualifies for operating lease accounting treatment under sfas 13 and , as such , the buildings and the related obligation are not included on our balance sheet . we utilized this type of financing because it allows us to access bank-provided funding at the most favorable rates and allows us to maintain our cash balances for other corporate purposes . at the end of the lease term , we can purchase the buildings for the lease balance , remarket or relinquish the buildings . if we choose to remarket or are required to do so upon relinquishing the buildings , we are bound to arrange the sale of the buildings to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 132.6 million ( 201cresidual value guarantee 201d ) . there were no changes in the agreement or level of obligations from the end of fiscal 2002 . we are in the process of evaluating alternative financing methods at expiration of the lease in fiscal 2004 and believe that several suitable financing options will be available to us . as of november 28 , 2003 , future minimum lease payments under noncancelable operating leases and future minimum sublease income under noncancelable subleases are as follows : fiscal year future minimum lease payments future minimum sublease income .
|fiscal year|future minimum lease payments|future minimum sublease income|
|2004|$ 29454|$ 5859|
|2005|20746|5798|
|2006|16796|5839|
|2007|12188|3819|
|2008|9596|1678|
|thereafter|20900|2811|
|total|$ 109680|$ 25804|
royalties we have certain royalty commitments associated with the shipment and licensing of certain products . royalty expense is generally based on a dollar amount per unit shipped or a percentage of the underlying revenue . royalty expense , which was recorded under our cost of products revenue on our consolidated statements of income , was approximately $ 14.5 million , $ 14.4 million and $ 14.1 million in fiscal 2003 , 2002 and 2001 , respectively . guarantees we adopted fin 45 at the beginning of our fiscal year 2003 . see 201cguarantees 201d and 201crecent accounting pronouncements 201d in note 1 of our notes to consolidated financial statements for further information regarding fin 45 . legal actions in early 2002 , international typeface corporation ( 201citc 201d ) and agfa monotype corporation ( 201camt 201d ) , companies which have common ownership and management , each charged , by way of informal letters to adobe , that adobe's distribution of font software , which generates itc and amt typefaces , breaches its contracts with itc and amt , respectively , pursuant to which adobe licensed certain rights with respect to itc and amt typefaces . amt and itc further charged that adobe violated the digital millennium copyright act ( 201cdmca 201d ) with respect to , or induced or contributed to , the infringement of copyrights in , itc 2019s and amt's truetype font software. .
Question: for fiscal year 2004 , what was the difference between future minimum lease payments and future minimum sublease income , in millions?
Answer: | 23595.0 |
FINQA4041 | Please answer the given financial question based on the context.
Context: synopsys , inc . notes to consolidated financial statements 2014 ( continued ) and other electronic applications markets . the company believes the acquisition will expand its technology portfolio , channel reach and total addressable market by adding complementary products and expertise for fpga solutions and rapid asic prototyping . purchase price . synopsys paid $ 8.00 per share for all outstanding shares including certain vested options of synplicity for an aggregate cash payment of $ 223.3 million . additionally , synopsys assumed certain employee stock options and restricted stock units , collectively called 201cstock awards . 201d the total purchase consideration consisted of: .
||( in thousands )|
|cash paid net of cash acquired|$ 180618|
|fair value of assumed vested or earned stock awards|4169|
|acquisition related costs|8016|
|total purchase price consideration|$ 192803|
acquisition related costs consist primarily of professional services , severance and employee related costs and facilities closure costs of which $ 6.8 million have been paid as of october 31 , 2009 . fair value of stock awards assumed . an aggregate of 4.7 million shares of synplicity stock options and restricted stock units were exchanged for synopsys stock options and restricted stock units at an exchange ratio of 0.3392 per share . the fair value of stock options assumed was determined using a black-scholes valuation model . the fair value of stock awards vested or earned of $ 4.2 million was included as part of the purchase price . the fair value of unvested awards of $ 5.0 million will be recorded as operating expense over the remaining service periods on a straight-line basis . purchase price allocation . the company allocated $ 80.0 million of the purchase price to identifiable intangible assets to be amortized over two to seven years . in-process research and development expense related to these acquisitions was $ 4.8 million . goodwill , representing the excess of the purchase price over the fair value of tangible and identifiable intangible assets acquired , was $ 120.3 million and will not be amortized . goodwill primarily resulted from the company 2019s expectation of cost synergies and sales growth from the integration of synplicity 2019s technology with the company 2019s technology and operations to provide an expansion of products and market reach . fiscal 2007 acquisitions during fiscal year 2007 , the company completed certain purchase acquisitions for cash . the company allocated the total purchase considerations of $ 54.8 million ( which included acquisition related costs of $ 1.4 million ) to the assets and liabilities acquired , including identifiable intangible assets , based on their respective fair values at the acquisition dates , resulting in aggregate goodwill of $ 36.6 million . acquired identifiable intangible assets of $ 14.3 million are being amortized over two to nine years . in-process research and development expense related to these acquisitions was $ 3.2 million. .
Question: what percentage of total purchase price consideration was allocated to identifiable intangible assets?
Answer: | 0.41493 |
FINQA4042 | Please answer the given financial question based on the context.
Context: part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities . our series a common stock , series b common stock and series c common stock are listed and traded on the nasdaq global select market ( 201cnasdaq 201d ) under the symbols 201cdisca , 201d 201cdiscb 201d and 201cdisck , 201d respectively . the following table sets forth , for the periods indicated , the range of high and low sales prices per share of our series a common stock , series b common stock and series c common stock as reported on yahoo! finance ( finance.yahoo.com ) . series a common stock series b common stock series c common stock high low high low high low fourth quarter $ 23.73 $ 16.28 $ 26.80 $ 20.00 $ 22.47 $ 15.27 third quarter $ 27.18 $ 20.80 $ 27.90 $ 22.00 $ 26.21 $ 19.62 second quarter $ 29.40 $ 25.11 $ 29.55 $ 25.45 $ 28.90 $ 24.39 first quarter $ 29.62 $ 26.34 $ 29.65 $ 27.55 $ 28.87 $ 25.76 fourth quarter $ 29.55 $ 25.01 $ 30.50 $ 26.00 $ 28.66 $ 24.20 third quarter $ 26.97 $ 24.27 $ 28.00 $ 25.21 $ 26.31 $ 23.44 second quarter $ 29.31 $ 23.73 $ 29.34 $ 24.15 $ 28.48 $ 22.54 first quarter $ 29.42 $ 24.33 $ 29.34 $ 24.30 $ 28.00 $ 23.81 as of february 21 , 2018 , there were approximately 1308 , 75 and 1414 record holders of our series a common stock , series b common stock and series c common stock , respectively . these amounts do not include the number of shareholders whose shares are held of record by banks , brokerage houses or other institutions , but include each such institution as one shareholder . we have not paid any cash dividends on our series a common stock , series b common stock or series c common stock , and we have no present intention to do so . payment of cash dividends , if any , will be determined by our board of directors after consideration of our earnings , financial condition and other relevant factors such as our credit facility's restrictions on our ability to declare dividends in certain situations . purchases of equity securities the following table presents information about our repurchases of common stock that were made through open market transactions during the three months ended december 31 , 2017 ( in millions , except per share amounts ) . period total number of series c shares purchased average paid per share : series c ( a ) total number of shares purchased as part of publicly announced plans or programs ( b ) ( c ) approximate dollar value of shares that may yet be purchased under the plans or programs ( a ) ( b ) october 1 , 2017 - october 31 , 2017 2014 $ 2014 2014 $ 2014 november 1 , 2017 - november 30 , 2017 2014 $ 2014 2014 $ 2014 december 1 , 2017 - december 31 , 2017 2014 $ 2014 2014 $ 2014 total 2014 2014 $ 2014 ( a ) the amounts do not give effect to any fees , commissions or other costs associated with repurchases of shares . ( b ) under the stock repurchase program , management was authorized to purchase shares of the company's common stock from time to time through open market purchases or privately negotiated transactions at prevailing prices or pursuant to one or more accelerated stock repurchase agreements or other derivative arrangements as permitted by securities laws and other legal requirements , and subject to stock price , business and market conditions and other factors . the company's authorization under the program expired on october 8 , 2017 and we have not repurchased any shares of common stock since then . we historically have funded and in the future may fund stock repurchases through a combination of cash on hand and cash generated by operations and the issuance of debt . in the future , if further authorization is provided , we may also choose to fund stock repurchases through borrowings under our revolving credit facility or future financing transactions . there were no repurchases of our series a and b common stock during 2017 and no repurchases of series c common stock during the three months ended december 31 , 2017 . the company first announced its stock repurchase program on august 3 , 2010 . ( c ) we entered into an agreement with advance/newhouse to repurchase , on a quarterly basis , a number of shares of series c-1 convertible preferred stock convertible into a number of shares of series c common stock . we did not convert any any shares of series c-1 convertible preferred stock during the three months ended december 31 , 2017 . there are no planned repurchases of series c-1 convertible preferred stock for the first quarter of 2018 as there were no repurchases of series a or series c common stock during the three months ended december 31 , 2017 . stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , scripps network interactive , inc. , time warner , inc. , twenty-first century fox , inc . class a common stock ( news corporation class a common stock prior to june 2013 ) , viacom , inc . class b common stock and the walt disney company . the graph assumes $ 100 originally invested on december 31 , 2012 in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the years ended december 31 , 2013 , 2014 , 2015 , 2016 and 2017 . december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
||december 312012|december 312013|december 312014|december 312015|december 312016|december 312017|
|disca|$ 100.00|$ 139.42|$ 106.23|$ 82.27|$ 84.53|$ 69.01|
|discb|$ 100.00|$ 144.61|$ 116.45|$ 85.03|$ 91.70|$ 78.01|
|disck|$ 100.00|$ 143.35|$ 115.28|$ 86.22|$ 91.56|$ 72.38|
|s&p 500|$ 100.00|$ 129.60|$ 144.36|$ 143.31|$ 156.98|$ 187.47|
|peer group|$ 100.00|$ 163.16|$ 186.87|$ 180.10|$ 200.65|$ 208.79|
.
Question: did the 5 year c series return outperform the s&p 500?
Answer: | no |
FINQA4043 | Please answer the given financial question based on the context.
Context: included in other non-current liabilities , because the company believes that the ultimate payment or settlement of these liabilities will not occur within the next twelve months . prior to the adoption of these provisions , these amounts were included in current income tax payable . the company includes interest and penalties related to unrecognized tax benefits within the provision for taxes in the condensed consolidated statements of income , and as a result , no change in classification was made upon adopting these provisions . the condensed consolidated statements of income for fiscal year 2009 and fiscal year 2008 include $ 1.7 million and $ 1.3 million , respectively , of interest and penalties related to these uncertain tax positions . due to the complexity associated with its tax uncertainties , the company cannot make a reasonably reliable estimate as to the period in which it expects to settle the liabilities associated with these uncertain tax positions . the following table summarizes the changes in the total amounts of uncertain tax positions for fiscal 2008 and fiscal 2009. .
|balance november 3 2007|$ 9889|
|additions for tax positions of current year|3861|
|balance november 1 2008|13750|
|additions for tax positions of current year|4411|
|balance october 31 2009|$ 18161|
fiscal year 2004 and 2005 irs examination during the fourth quarter of fiscal 2007 , the irs completed its field examination of the company 2019s fiscal years 2004 and 2005 . on january 2 , 2008 , the irs issued its report for fiscal 2004 and 2005 , which included proposed adjustments related to these two fiscal years . the company has recorded taxes and penalties related to certain of these proposed adjustments . there are four items with an additional potential total tax liability of $ 46 million . the company has concluded , based on discussions with its tax advisors , that these four items are not likely to result in any additional tax liability . therefore , the company has not recorded any additional tax liability for these items and is appealing these proposed adjustments through the normal processes for the resolution of differences between the irs and taxpayers . the company 2019s initial meetings with the appellate division of the irs were held during fiscal year 2009 . two of the unresolved matters are one-time issues and pertain to section 965 of the internal revenue code related to the beneficial tax treatment of dividends from foreign owned companies under the american jobs creation act . the other matters pertain to the computation of research and development ( r&d ) tax credits and the profits earned from manufacturing activities carried on outside the united states . these latter two matters could impact taxes payable for fiscal 2004 and 2005 as well as for subsequent years . fiscal year 2006 and 2007 irs examination during the third quarter of fiscal 2009 , the irs completed its field examination of the company 2019s fiscal years 2006 and 2007 . the irs and the company have agreed on the treatment of a number of issues that have been included in an issue resolutions agreement related to the 2006 and 2007 tax returns . however , no agreement was reached on the tax treatment of a number of issues , including the same r&d credit and foreign manufacturing issues mentioned above related to fiscal 2004 and 2005 , the pricing of intercompany sales ( transfer pricing ) , and the deductibility of certain stock option compensation expenses . during the third quarter of fiscal 2009 , the irs issued its report for fiscal 2006 and fiscal 2007 , which included proposed adjustments related to these two fiscal years . the company has recorded taxes and penalties related to certain of these proposed adjustments . there are four items with an additional potential total tax liability of $ 195 million . the company concluded , based on discussions with its tax advisors , that these four items are not likely to result in any additional tax liability . therefore , the company has not recorded any additional tax liability for these items and is appealing these proposed adjustments through the normal processes for the resolution of differences between the irs and taxpayers . with the exception of the analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what is the net change in the balance of total amounts of uncertain tax positions from 2007 to 2009?
Answer: | 8272.0 |
FINQA4044 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) the effect of foreign exchange rate changes on cash , cash equivalents and restricted cash included in the consolidated statements of cash flows resulted in an increase of $ 11.6 in 2016 , primarily a result of the brazilian real strengthening against the u.s . dollar as of december 31 , 2016 compared to december 31 , 2015. .
|balance sheet data|december 31 , 2017|december 31 , 2016|
|cash cash equivalents and marketable securities|$ 791.0|$ 1100.6|
|short-term borrowings|$ 84.9|$ 85.7|
|current portion of long-term debt|2.0|323.9|
|long-term debt|1285.6|1280.7|
|total debt|$ 1372.5|$ 1690.3|
liquidity outlook we expect our cash flow from operations and existing cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months . we also have a committed corporate credit facility , uncommitted lines of credit and a commercial paper program available to support our operating needs . we continue to maintain a disciplined approach to managing liquidity , with flexibility over significant uses of cash , including our capital expenditures , cash used for new acquisitions , our common stock repurchase program and our common stock dividends . from time to time , we evaluate market conditions and financing alternatives for opportunities to raise additional funds or otherwise improve our liquidity profile , enhance our financial flexibility and manage market risk . our ability to access the capital markets depends on a number of factors , which include those specific to us , such as our credit ratings , and those related to the financial markets , such as the amount or terms of available credit . there can be no guarantee that we would be able to access new sources of liquidity , or continue to access existing sources of liquidity , on commercially reasonable terms , or at all . funding requirements our most significant funding requirements include our operations , non-cancelable operating lease obligations , capital expenditures , acquisitions , common stock dividends , taxes and debt service . additionally , we may be required to make payments to minority shareholders in certain subsidiaries if they exercise their options to sell us their equity interests . notable funding requirements include : 2022 debt service 2013 as of december 31 , 2017 , we had outstanding short-term borrowings of $ 84.9 from our uncommitted lines of credit used primarily to fund seasonal working capital needs . the remainder of our debt is primarily long-term , with maturities scheduled through 2024 . see the table below for the maturity schedule of our long-term debt . 2022 acquisitions 2013 we paid cash of $ 29.7 , net of cash acquired of $ 7.1 , for acquisitions completed in 2017 . we also paid $ 0.9 in up-front payments and $ 100.8 in deferred payments for prior-year acquisitions as well as ownership increases in our consolidated subsidiaries . in addition to potential cash expenditures for new acquisitions , we expect to pay approximately $ 42.0 in 2018 related to prior acquisitions . we may also be required to pay approximately $ 33.0 in 2018 related to put options held by minority shareholders if exercised . we will continue to evaluate strategic opportunities to grow and continue to strengthen our market position , particularly in our digital and marketing services offerings , and to expand our presence in high-growth and key strategic world markets . 2022 dividends 2013 during 2017 , we paid four quarterly cash dividends of $ 0.18 per share on our common stock , which corresponded to aggregate dividend payments of $ 280.3 . on february 14 , 2018 , we announced that our board of directors ( the 201cboard 201d ) had declared a common stock cash dividend of $ 0.21 per share , payable on march 15 , 2018 to holders of record as of the close of business on march 1 , 2018 . assuming we pay a quarterly dividend of $ 0.21 per share and there is no significant change in the number of outstanding shares as of december 31 , 2017 , we would expect to pay approximately $ 320.0 over the next twelve months. .
Question: what is the percentage decrease in cash equivalent and marketable securities from 2016-2017?
Answer: | 28.13011 |
FINQA4045 | Please answer the given financial question based on the context.
Context: interest and penalties with respect to unrecognized tax benefits were $ 3 million as of each of december 31 , 2015 and 2014 . during 2013 , the company recorded a reduction of $ 14 million to its liability for uncertain tax positions related to a change approved by the irs for the allocation of interest costs to long term construction contracts at ingalls . this change was made on a prospective basis only and did not impact the tax returns filed for years prior to 2013 . the following table summarizes the tax years that are either currently under examination or remain open under the applicable statute of limitations and subject to examination by the major tax jurisdictions in which the company operates: .
|jurisdiction united states|jurisdiction 2007|jurisdiction -|2014|
|california|2010|-|2014|
|louisiana|2012|-|2014|
|mississippi|2012|-|2014|
|virginia|2012|-|2014|
although the company believes it has adequately provided for all uncertain tax positions , amounts asserted by taxing authorities could be greater than the company's accrued position . accordingly , additional provisions for federal and state income tax related matters could be recorded in the future as revised estimates are made or the underlying matters are effectively settled or otherwise resolved . conversely , the company could settle positions with the tax authorities for amounts lower than have been accrued . the company believes that it is reasonably possible that during the next 12 months the company's liability for uncertain tax positions may decrease by approximately $ 2 million due to statute of limitation expirations . the company recognizes accrued interest and penalties related to uncertain tax positions in income tax expense . the irs is currently conducting an examination of northrop grumman's consolidated tax returns , of which hii was part , for the years 2007 through the spin-off . during 2013 the company entered into the pre-compliance assurance process with the irs for years 2011 and 2012 . the company is part of the irs compliance assurance process program for the 2014 , 2015 , and 2016 tax years . open tax years related to state jurisdictions remain subject to examination . as of march 31 , 2011 , the date of the spin-off , the company's liability for uncertain tax positions was approximately $ 4 million , net of federal benefit , which related solely to state income tax positions . under the terms of the separation agreement , northrop grumman is obligated to reimburse hii for any settlement liabilities paid by hii to any government authority for tax periods prior to the spin-off , which include state income taxes . as a result , the company recorded in other assets a reimbursement receivable of approximately $ 4 million , net of federal benefit , related to uncertain tax positions for state income taxes as of the date of the spin-off . in 2014 , the statute of limitations expired for the $ 4 million liability related to state uncertain tax positions as of the spin-off date . accordingly , the $ 4 million liability and the associated reimbursement receivable were written off . on september 13 , 2013 , the treasury department and the internal revenue service issued final regulations regarding the deduction and capitalization of amounts paid to acquire , produce , improve , or dispose of tangible personal property . these regulations are generally effective for tax years beginning on or after january 1 , 2014 . the application of these regulations did not have a material impact on the company's consolidated financial statements . deferred income taxes - deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and for income tax purposes . such amounts are classified in the consolidated statements of financial position as current or non-current assets or liabilities based upon the classification of the related assets and liabilities. .
Question: what is the current tax examination period in virginia , in years?
Answer: | 2.0 |
FINQA4046 | Please answer the given financial question based on the context.
Context: result of the effects of the costa concordia incident and the continued instability in the european eco- nomic landscape . however , we continue to believe in the long term growth potential of this market . we estimate that europe was served by 102 ships with approximately 108000 berths at the beginning of 2008 and by 117 ships with approximately 156000 berths at the end of 2012 . there are approximately 9 ships with an estimated 25000 berths that are expected to be placed in service in the european cruise market between 2013 and 2017 . the following table details the growth in the global , north american and european cruise markets in terms of cruise guests and estimated weighted-average berths over the past five years : global cruise guests ( 1 ) weighted-average supply of berths marketed globally ( 1 ) north american cruise guests ( 2 ) weighted-average supply of berths marketed in north america ( 1 ) european cruise guests weighted-average supply of berths marketed in europe ( 1 ) .
|year|global cruise guests ( 1 )|weighted-average supply of berths marketed globally ( 1 )|north american cruise guests ( 2 )|weighted-average supply of berths marketed in north america ( 1 )|european cruise guests|weighted-average supply of berths marketed in europe ( 1 )|
|2008|17184000|347000|10093000|219000|4500000|120000|
|2009|17340000|363000|10198000|222000|5000000|131000|
|2010|18800000|391000|10781000|232000|5540000|143000|
|2011|20227000|412000|11625000|245000|5894000|149000|
|2012|20823000|425000|12044000|254000|6040000|152000|
( 1 ) source : our estimates of the number of global cruise guests , and the weighted-average supply of berths marketed globally , in north america and europe are based on a combination of data that we obtain from various publicly available cruise industry trade information sources including seatrade insider and cruise line international association ( 201cclia 201d ) . in addition , our estimates incorporate our own statistical analysis utilizing the same publicly available cruise industry data as a base . ( 2 ) source : cruise line international association based on cruise guests carried for at least two consecutive nights for years 2008 through 2011 . year 2012 amounts represent our estimates ( see number 1 above ) . ( 3 ) source : clia europe , formerly european cruise council , for years 2008 through 2011 . year 2012 amounts represent our estimates ( see number 1 above ) . other markets in addition to expected industry growth in north america and europe as discussed above , we expect the asia/pacific region to demonstrate an even higher growth rate in the near term , although it will continue to represent a relatively small sector compared to north america and europe . competition we compete with a number of cruise lines . our princi- pal competitors are carnival corporation & plc , which owns , among others , aida cruises , carnival cruise lines , costa cruises , cunard line , holland america line , iberocruceros , p&o cruises and princess cruises ; disney cruise line ; msc cruises ; norwegian cruise line and oceania cruises . cruise lines compete with other vacation alternatives such as land-based resort hotels and sightseeing destinations for consumers 2019 leisure time . demand for such activities is influenced by political and general economic conditions . com- panies within the vacation market are dependent on consumer discretionary spending . operating strategies our principal operating strategies are to : 2022 protect the health , safety and security of our guests and employees and protect the environment in which our vessels and organization operate , 2022 strengthen and support our human capital in order to better serve our global guest base and grow our business , 2022 further strengthen our consumer engagement in order to enhance our revenues , 2022 increase the awareness and market penetration of our brands globally , 2022 focus on cost efficiency , manage our operating expenditures and ensure adequate cash and liquid- ity , with the overall goal of maximizing our return on invested capital and long-term shareholder value , 2022 strategically invest in our fleet through the revit ad alization of existing ships and the transfer of key innovations across each brand , while prudently expanding our fleet with the new state-of-the-art cruise ships recently delivered and on order , 2022 capitalize on the portability and flexibility of our ships by deploying them into those markets and itineraries that provide opportunities to optimize returns , while continuing our focus on existing key markets , 2022 further enhance our technological capabilities to service customer preferences and expectations in an innovative manner , while supporting our strategic focus on profitability , and part i 0494.indd 13 3/27/13 12:52 pm .
Question: what was the percentage increase of the global cruise guests from 2008 to 2012
Answer: | 0.21177 |
FINQA4047 | Please answer the given financial question based on the context.
Context: able to reasonably estimate the timing of future cash flows beyond 12 months due to uncertainties in the timing of tax audit outcomes . the remaining amount of our unrecognized tax liability was classified in other liabilities . we report accrued interest and penalties related to unrecognized tax benefit liabilities in income tax expense . for fiscal 2017 , we recognized a net benefit of $ 5.6 million of tax-related net interest and penalties , and had $ 23.1 million of accrued interest and penalties as of may 28 , 2017 . for fiscal 2016 , we recognized a net benefit of $ 2.7 million of tax-related net interest and penalties , and had $ 32.1 million of accrued interest and penalties as of may 29 , 2016 . note 15 . leases , other commitments , and contingencies the company 2019s leases are generally for warehouse space and equipment . rent expense under all operating leases from continuing operations was $ 188.1 million in fiscal 2017 , $ 189.1 million in fiscal 2016 , and $ 193.5 million in fiscal 2015 . some operating leases require payment of property taxes , insurance , and maintenance costs in addition to the rent payments . contingent and escalation rent in excess of minimum rent payments and sublease income netted in rent expense were insignificant . noncancelable future lease commitments are : operating capital in millions leases leases .
|in millions|operating leases|capital leases|
|fiscal 2018|$ 118.8|$ 0.4|
|fiscal 2019|101.7|0.4|
|fiscal 2020|80.7|0.2|
|fiscal 2021|60.7|0.1|
|fiscal 2022|49.7|2014|
|after fiscal 2022|89.1|0.1|
|total noncancelable future lease commitments|$ 500.7|$ 1.2|
|less : interest||-0.1 ( 0.1 )|
|present value of obligations under capital leases||$ 1.1|
depreciation on capital leases is recorded as deprecia- tion expense in our results of operations . as of may 28 , 2017 , we have issued guarantees and comfort letters of $ 504.7 million for the debt and other obligations of consolidated subsidiaries , and guarantees and comfort letters of $ 165.3 million for the debt and other obligations of non-consolidated affiliates , mainly cpw . in addition , off-balance sheet arrangements are generally limited to the future payments under non-cancelable operating leases , which totaled $ 500.7 million as of may 28 , 2017 . note 16 . business segment and geographic information we operate in the consumer foods industry . in the third quarter of fiscal 2017 , we announced a new global orga- nization structure to streamline our leadership , enhance global scale , and drive improved operational agility to maximize our growth capabilities . as a result of this global reorganization , beginning in the third quarter of fiscal 2017 , we reported results for our four operating segments as follows : north america retail , 65.3 percent of our fiscal 2017 consolidated net sales ; convenience stores & foodservice , 12.0 percent of our fiscal 2017 consolidated net sales ; europe & australia , 11.7 percent of our fiscal 2017 consolidated net sales ; and asia & latin america , 11.0 percent of our fiscal 2017 consoli- dated net sales . we have restated our net sales by seg- ment and segment operating profit amounts to reflect our new operating segments . these segment changes had no effect on previously reported consolidated net sales , operating profit , net earnings attributable to general mills , or earnings per share . our north america retail operating segment consists of our former u.s . retail operating units and our canada region . within our north america retail operating seg- ment , our former u.s . meals operating unit and u.s . baking operating unit have been combined into one operating unit : u.s . meals & baking . our convenience stores & foodservice operating segment is unchanged . our europe & australia operating segment consists of our former europe region . our asia & latin america operating segment consists of our former asia/pacific and latin america regions . under our new organization structure , our chief operating decision maker assesses performance and makes decisions about resources to be allocated to our segments at the north america retail , convenience stores & foodservice , europe & australia , and asia & latin america operating segment level . our north america retail operating segment reflects business with a wide variety of grocery stores , mass merchandisers , membership stores , natural food chains , drug , dollar and discount chains , and e-commerce gro- cery providers . our product categories in this business 84 general mills .
Question: what will be the percentage decrease in operating leases from 2017 to 2018?
Answer: | -0.36842 |
FINQA4048 | Please answer the given financial question based on the context.
Context: item 2 . properties as of december 31 , 2014 , we owned or leased 129 major manufacturing sites and 15 major technical centers in 33 countries . a manufacturing site may include multiple plants and may be wholly or partially owned or leased . we also have many smaller manufacturing sites , sales offices , warehouses , engineering centers , joint ventures and other investments strategically located throughout the world . the following table shows the regional distribution of our major manufacturing sites by the operating segment that uses such facilities : north america europe , middle east & africa asia pacific south america total .
||north america|europemiddle east& africa|asia pacific|south america|total|
|electrical/electronic architecture|29|23|20|7|79|
|powertrain systems|4|10|6|2|22|
|electronics and safety|3|9|3|1|16|
|thermal systems|3|3|5|1|12|
|total|39|45|34|11|129|
in addition to these manufacturing sites , we had 15 major technical centers : five in north america ; five in europe , middle east and africa ; four in asia pacific ; and one in south america . of our 129 major manufacturing sites and 15 major technical centers , which include facilities owned or leased by our consolidated subsidiaries , 83 are primarily owned and 61 are primarily leased . we frequently review our real estate portfolio and develop footprint strategies to support our customers 2019 global plans , while at the same time supporting our technical needs and controlling operating expenses . we believe our evolving portfolio will meet current and anticipated future needs . item 3 . legal proceedings we are from time to time subject to various actions , claims , suits , government investigations , and other proceedings incidental to our business , including those arising out of alleged defects , breach of contracts , competition and antitrust matters , product warranties , intellectual property matters , personal injury claims and employment-related matters . it is our opinion that the outcome of such matters will not have a material adverse impact on our consolidated financial position , results of operations , or cash flows . with respect to warranty matters , although we cannot ensure that the future costs of warranty claims by customers will not be material , we believe our established reserves are adequate to cover potential warranty settlements . however , the final amounts required to resolve these matters could differ materially from our recorded estimates . gm ignition switch recall in the first quarter of 2014 , gm , delphi 2019s largest customer , initiated a product recall related to ignition switches . delphi has received requests for information from , and is cooperating with , various government agencies related to this ignition switch recall . in addition , delphi has been named as a co-defendant along with gm ( and in certain cases other parties ) in product liability and class action lawsuits related to this matter . during the second quarter of 2014 , all of the class action cases were transferred to the united states district court for the southern district of new york ( the 201cdistrict court 201d ) for coordinated pretrial proceedings . two consolidated amended class action complaints were filed in the district court on october 14 , 2014 . delphi was not named as a defendant in either complaint . delphi believes the allegations contained in the product liability cases are without merit , and intends to vigorously defend against them . although no assurances can be made as to the ultimate outcome of these or any other future claims , delphi does not believe a loss is probable and , accordingly , no reserve has been made as of december 31 , 2014 . unsecured creditors litigation under the terms of the fourth amended and restated limited liability partnership agreement of delphi automotive llp ( the 201cfourth llp agreement 201d ) , if cumulative distributions to the members of delphi automotive llp under certain provisions of the fourth llp agreement exceed $ 7.2 billion , delphi , as disbursing agent on behalf of dphh , is required to pay to the holders of allowed general unsecured claims against old delphi , $ 32.50 for every $ 67.50 in excess of $ 7.2 billion distributed to the members , up to a maximum amount of $ 300 million . in december 2014 , a complaint was filed in the bankruptcy court alleging that the redemption by delphi automotive llp of the membership interests of gm and the pbgc , and the repurchase of shares and payment of dividends by delphi automotive plc , constituted distributions under the terms of the fourth llp agreement approximating $ 7.2 billion . delphi considers cumulative distributions through december 31 , 2014 to be substantially below the $ 7.2 billion threshold , and intends to vigorously contest the allegations set forth in the complaint . accordingly , no accrual for this matter has been recorded as of december 31 , 2014. .
Question: what percentage of major manufacturing sites are in asia pacific?
Answer: | 0.26357 |
FINQA4049 | Please answer the given financial question based on the context.
Context: dish network corporation notes to consolidated financial statements - continued future minimum lease payments under the capital lease obligations , together with the present value of the net minimum lease payments as of december 31 , 2015 are as follows ( in thousands ) : for the years ended december 31 .
|2016|$ 76676|
|2017|75874|
|2018|75849|
|2019|50320|
|2020|48000|
|thereafter|64000|
|total minimum lease payments|390719|
|less : amount representing lease of the orbital location and estimated executory costs ( primarily insurance and maintenance ) including profit thereon included in total minimum lease payments|-186742 ( 186742 )|
|net minimum lease payments|203977|
|less : amount representing interest|-37485 ( 37485 )|
|present value of net minimum lease payments|166492|
|less : current portion|-30849 ( 30849 )|
|long-term portion of capital lease obligations|$ 135643|
the summary of future maturities of our outstanding long-term debt as of december 31 , 2015 is included in the commitments table in note 15 . 11 . income taxes and accounting for uncertainty in income taxes income taxes our income tax policy is to record the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported on our consolidated balance sheets , as well as probable operating loss , tax credit and other carryforwards . deferred tax assets are offset by valuation allowances when we believe it is more likely than not that net deferred tax assets will not be realized . we periodically evaluate our need for a valuation allowance . determining necessary valuation allowances requires us to make assessments about historical financial information as well as the timing of future events , including the probability of expected future taxable income and available tax planning opportunities . we file consolidated tax returns in the u.s . the income taxes of domestic and foreign subsidiaries not included in the u.s . tax group are presented in our consolidated financial statements on a separate return basis for each tax paying entity . as of december 31 , 2015 , we had no net operating loss carryforwards ( 201cnols 201d ) for federal income tax purposes and $ 39 million of nol benefit for state income tax purposes , which are partially offset by a valuation allowance . the state nols begin to expire in the year 2017 . in addition , there are $ 61 million of tax benefits related to credit carryforwards which are partially offset by a valuation allowance . the state credit carryforwards began to expire in .
Question: what percentage of future minimum lease payments under the capital lease obligations is due after 2020?
Answer: | 0.1638 |
FINQA4050 | Please answer the given financial question based on the context.
Context: shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the sec , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing . the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index and the dow jones transportation average . the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2011 in the standard & poor 2019s 500 index , the dow jones transportation average and our class b common stock. .
||12/31/2011|12/31/2012|12/31/2013|12/31/2014|12/31/2015|12/31/2016|
|united parcel service inc .|$ 100.00|$ 103.84|$ 152.16|$ 165.35|$ 154.61|$ 189.72|
|standard & poor 2019s 500 index|$ 100.00|$ 115.99|$ 153.54|$ 174.54|$ 176.94|$ 198.09|
|dow jones transportation average|$ 100.00|$ 107.49|$ 151.97|$ 190.07|$ 158.22|$ 192.80|
.
Question: for the five year period ending 12/31/2016 what was the difference in total performance between united parcel service inc . and the standard & poor 2019s 500 index?
Answer: | -0.0837 |
FINQA4051 | Please answer the given financial question based on the context.
Context: 10-k altria ar release tuesday , february 27 , 2018 10:00pm andra design llc the relative percentages of operating companies income ( loss ) attributable to each reportable segment and the all other category were as follows: .
||2017|2016|2015|
|smokeable products|85.8% ( 85.8 % )|86.2% ( 86.2 % )|87.4% ( 87.4 % )|
|smokeless products|13.2|13.1|12.8|
|wine|1.5|1.8|1.8|
|all other|-0.5 ( 0.5 )|-1.1 ( 1.1 )|-2.0 ( 2.0 )|
|total|100.0% ( 100.0 % )|100.0% ( 100.0 % )|100.0% ( 100.0 % )|
for items affecting the comparability of the relative percentages of operating companies income ( loss ) attributable to each reportable segment , see note 15 . narrative description of business portions of the information called for by this item are included in operating results by business segment in item 7 . management 2019s discussion and analysis of financial condition and results of operations of this annual report on form 10-k ( 201citem 7 201d ) . tobacco space altria group , inc . 2019s tobacco operating companies include pm usa , usstc and other subsidiaries of ust , middleton , nu mark and nat sherman . altria group distribution company provides sales and distribution services to altria group , inc . 2019s tobacco operating companies . the products of altria group , inc . 2019s tobacco subsidiaries include smokeable tobacco products , consisting of cigarettes manufactured and sold by pm usa and nat sherman , machine- made large cigars and pipe tobacco manufactured and sold by middleton and premium cigars sold by nat sherman ; smokeless tobacco products manufactured and sold by usstc ; and innovative tobacco products , including e-vapor products manufactured and sold by nu mark . cigarettes : pm usa is the largest cigarette company in the united states . marlboro , the principal cigarette brand of pm usa , has been the largest-selling cigarette brand in the united states for over 40 years . nat sherman sells substantially all of its super premium cigarettes in the united states . total smokeable products segment 2019s cigarettes shipment volume in the united states was 116.6 billion units in 2017 , a decrease of 5.1% ( 5.1 % ) from cigars : middleton is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco . middleton contracts with a third-party importer to supply a majority of its cigars and sells substantially all of its cigars to customers in the united states . black & mild is the principal cigar brand of middleton . nat sherman sources all of its cigars from third-party suppliers and sells substantially all of its cigars to customers in the united states . total smokeable products segment 2019s cigars shipment volume was approximately 1.5 billion units in 2017 , an increase of 9.9% ( 9.9 % ) from 2016 . smokeless tobacco products : usstc is the leading producer and marketer of moist smokeless tobacco ( 201cmst 201d ) products . the smokeless products segment includes the premium brands , copenhagen and skoal , and value brands , red seal and husky . substantially all of the smokeless tobacco products are manufactured and sold to customers in the united states . total smokeless products segment 2019s shipment volume was 841.3 million units in 2017 , a decrease of 1.4% ( 1.4 % ) from 2016 . innovative tobacco products : nu mark participates in the e-vapor category and has developed and commercialized other innovative tobacco products . in addition , nu mark sources the production of its e-vapor products through overseas contract manufacturing arrangements . in 2013 , nu mark introduced markten e-vapor products . in april 2014 , nu mark acquired the e-vapor business of green smoke , inc . and its affiliates ( 201cgreen smoke 201d ) , which began selling e-vapor products in 2009 . in 2017 , altria group , inc . 2019s subsidiaries purchased certain intellectual property related to innovative tobacco products . in december 2013 , altria group , inc . 2019s subsidiaries entered into a series of agreements with philip morris international inc . ( 201cpmi 201d ) pursuant to which altria group , inc . 2019s subsidiaries provide an exclusive license to pmi to sell nu mark 2019s e-vapor products outside the united states , and pmi 2019s subsidiaries provide an exclusive license to altria group , inc . 2019s subsidiaries to sell two of pmi 2019s heated tobacco product platforms in the united states . further , in july 2015 , altria group , inc . announced the expansion of its strategic framework with pmi to include a joint research , development and technology-sharing agreement . under this agreement , altria group , inc . 2019s subsidiaries and pmi will collaborate to develop e-vapor products for commercialization in the united states by altria group , inc . 2019s subsidiaries and in markets outside the united states by pmi . this agreement also provides for exclusive technology cross licenses , technical information sharing and cooperation on scientific assessment , regulatory engagement and approval related to e-vapor products . in the fourth quarter of 2016 , pmi submitted a modified risk tobacco product ( 201cmrtp 201d ) application for an electronically heated tobacco product with the united states food and drug administration 2019s ( 201cfda 201d ) center for tobacco products and filed its corresponding pre-market tobacco product application in the first quarter of 2017 . upon regulatory authorization by the fda , altria group , inc . 2019s subsidiaries will have an exclusive license to sell this heated tobacco product in the united states . distribution , competition and raw materials : altria group , inc . 2019s tobacco subsidiaries sell their tobacco products principally to wholesalers ( including distributors ) , large retail organizations , including chain stores , and the armed services . the market for tobacco products is highly competitive , characterized by brand recognition and loyalty , with product quality , taste , price , product innovation , marketing , packaging and distribution constituting the significant methods of competition . promotional activities include , in certain instances and where permitted by law , allowances , the distribution of incentive items , price promotions , product promotions , coupons and other discounts. .
Question: what is the percent change in relative percentages of operating companies income ( loss ) attributable to smokeless products from 2015 to 2016?
Answer: | 0.3 |
FINQA4052 | Please answer the given financial question based on the context.
Context: purchased scrap metal from third-parties ) that were either divested or permanently closed in december 2014 ( see global rolled products below ) . intersegment sales for this segment improved 12% ( 12 % ) in 2014 compared with 2013 , principally due to an increase in average realized price , driven by higher regional premiums , and higher demand from the midstream and downstream businesses . atoi for the primary metals segment decreased $ 439 in 2015 compared with 2014 , primarily caused by both the previously mentioned lower average realized aluminum price and lower energy sales , higher energy costs ( mostly in spain as the 2014 interruptibility rights were more favorable than the 2015 structure ) , and an unfavorable impact related to the curtailment of the s e3o lu eds smelter . these negative impacts were somewhat offset by net favorable foreign currency movements due to a stronger u.s . dollar against most major currencies , net productivity improvements , the absence of a write-off of inventory related to the permanent closure of the portovesme , point henry , and massena east smelters ( $ 44 ) , and a lower equity loss related to the joint venture in saudi arabia , including the absence of restart costs for one of the potlines that was previously shut down due to a period of instability . atoi for this segment climbed $ 614 in 2014 compared with 2013 , principally related to a higher average realized aluminum price ; the previously mentioned energy sales in brazil ; net productivity improvements ; net favorable foreign currency movements due to a stronger u.s . dollar against all major currencies ; lower costs for carbon and alumina ; and the absence of costs related to a planned maintenance outage in 2013 at a power plant in australia . these positive impacts were slightly offset by an unfavorable impact associated with the 2013 and 2014 capacity reductions described above , including a write-off of inventory related to the permanent closure of the portovesme , point henry , and massena east smelters ( $ 44 ) , and higher energy costs ( particularly in spain ) , labor , and maintenance . in 2016 , aluminum production will be approximately 450 kmt lower and third-party sales will reflect the absence of approximately $ 400 both as a result of the 2015 curtailment and closure actions . also , energy sales in brazil will be negatively impacted by a decline in energy prices , while net productivity improvements are anticipated . global rolled products .
||2015|2014|2013|
|third-party aluminum shipments ( kmt )|1775|1964|1905|
|alcoa 2019s average realized price per metric ton of aluminum*|$ 3514|$ 3743|$ 3730|
|third-party sales|$ 6238|$ 7351|$ 7106|
|intersegment sales|125|185|178|
|total sales|$ 6363|$ 7536|$ 7284|
|atoi|$ 244|$ 245|$ 292|
* generally , average realized price per metric ton of aluminum includes two elements : a ) the price of metal ( the underlying base metal component plus a regional premium 2013 see the footnote to the table in primary metals above for a description of these two components ) , and b ) the conversion price , which represents the incremental price over the metal price component that is associated with converting primary aluminum into sheet and plate . in this circumstance , the metal price component is a pass- through to this segment 2019s customers with limited exception ( e.g. , fixed-priced contracts , certain regional premiums ) . this segment represents alcoa 2019s midstream operations and produces aluminum sheet and plate for a variety of end markets . approximately one-half of the third-party shipments in this segment consist of sheet sold directly to customers in the packaging end market for the production of aluminum cans ( beverage , food , and pet food ) . seasonal increases in can sheet sales are generally experienced in the second and third quarters of the year . this segment also includes sheet and plate sold directly to customers and through distributors related to the aerospace , automotive , commercial transportation , building and construction , and industrial products ( mainly used in the production of machinery and equipment and consumer durables ) end markets . a small portion of this segment also produces aseptic foil for the packaging end market . while the customer base for flat-rolled products is large , a significant amount of sales of sheet and plate is to a relatively small number of customers . in this circumstance , the sales and costs and expenses of this segment are transacted in the local currency of the respective operations , which are mostly the u.s . dollar , the euro , the russian ruble , the brazilian real , and the british pound. .
Question: what was the percentual decrease observed in alcoa 2019s average realized price per metric ton of aluminum during 2014 and 2015?
Answer: | 6.51679 |
FINQA4053 | Please answer the given financial question based on the context.
Context: part ii , item 8 fourth quarter of 2007 : 0160 schlumberger sold certain workover rigs for $ 32 million , resulting in a pretax gain of $ 24 million ( $ 17 million after-tax ) which is classified in interest and other income , net in the consolidated statement of income . 4 . acquisitions acquisition of eastern echo holding plc on december 10 , 2007 , schlumberger completed the acquisition of eastern echo holding plc ( 201ceastern echo 201d ) for $ 838 million in cash . eastern echo was a dubai-based marine seismic company that did not have any operations at the time of acquisition , but had signed contracts for the construction of six seismic vessels . the purchase price has been allocated to the net assets acquired based upon their estimated fair values as follows : ( stated in millions ) .
|cash and short-term investments|$ 266|
|other current assets|23|
|fixed income investments held to maturity|54|
|vessels under construction|694|
|accounts payable and accrued liabilities|-17 ( 17 )|
|long-term debt|-182 ( 182 )|
|total purchase price|$ 838|
other acquisitions schlumberger has made other acquisitions and minority interest investments , none of which were significant on an individual basis , for cash payments , net of cash acquired , of $ 514 million during 2009 , $ 345 million during 2008 , and $ 281 million during 2007 . pro forma results pertaining to the above acquisitions are not presented as the impact was not significant . 5 . drilling fluids joint venture the mi-swaco drilling fluids joint venture is owned 40% ( 40 % ) by schlumberger and 60% ( 60 % ) by smith international , inc . schlumberger records income relating to this venture using the equity method of accounting . the carrying value of schlumberger 2019s investment in the joint venture on december 31 , 2009 and 2008 was $ 1.4 billion and $ 1.3 billion , respectively , and is included within investments in affiliated companies on the consolidated balance sheet . schlumberger 2019s equity income from this joint venture was $ 131 million in 2009 , $ 210 million in 2008 and $ 178 million in 2007 . schlumberger received cash distributions from the joint venture of $ 106 million in 2009 , $ 57 million in 2008 and $ 46 million in 2007 . the joint venture agreement contains a provision under which either party to the joint venture may offer to sell its entire interest in the venture to the other party at a cash purchase price per percentage interest specified in an offer notice . if the offer to sell is not accepted , the offering party will be obligated to purchase the entire interest of the other party at the same price per percentage interest as the prices specified in the offer notice. .
Question: what was the debt to asset ratio in the eastern echo holding plc acquisition
Answer: | 0.1919 |
FINQA4054 | Please answer the given financial question based on the context.
Context: jpmorgan chase & co./2012 annual report 249 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agreements 201d ) primarily to finance the firm 2019s inventory positions , acquire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations . securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets . resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest . securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received . where appropriate under applicable accounting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis . fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense , respectively . the firm has elected the fair value option for certain securities financing agreements . for further information regarding the fair value option , see note 4 on pages 214 2013 216 of this annual report . the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated balance sheets . generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue . however , for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue . the following table details the firm 2019s securities financing agreements , all of which are accounted for as collateralized financings during the periods presented . december 31 , ( in millions ) 2012 2011 securities purchased under resale agreements ( a ) $ 295413 $ 235000 securities borrowed ( b ) 119017 142462 securities sold under repurchase agreements ( c ) $ 215560 $ 197789 securities loaned ( d ) 23582 14214 ( a ) at december 31 , 2012 and 2011 , included resale agreements of $ 24.3 billion and $ 22.2 billion , respectively , accounted for at fair value . ( b ) at december 31 , 2012 and 2011 , included securities borrowed of $ 10.2 billion and $ 15.3 billion , respectively , accounted for at fair value . ( c ) at december 31 , 2012 and 2011 , included repurchase agreements of $ 3.9 billion and $ 6.8 billion , respectively , accounted for at fair value . ( d ) at december 31 , 2012 , included securities loaned of $ 457 million accounted for at fair value . there were no securities loaned accounted for at fair value at december 31 , 2011 . the amounts reported in the table above were reduced by $ 96.9 billion and $ 115.7 billion at december 31 , 2012 and 2011 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance . jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securities borrowed . the firm monitors the value of the underlying securities ( primarily g7 government securities , u.s . agency securities and agency mbs , and equities ) that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities . margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default . jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default . as a result of the firm 2019s credit risk mitigation practices with respect to resale and securities borrowed agreements as described above , the firm did not hold any reserves for credit impairment with respect to these agreements as of december 31 , 2012 and for further information regarding assets pledged and collateral received in securities financing agreements , see note 30 on pages 315 2013316 of this annual report. .
|december 31 ( in millions )|2012|2011|
|securities purchased under resale agreements ( a )|$ 295413|$ 235000|
|securities borrowed ( b )|119017|142462|
|securities sold under repurchase agreements ( c )|$ 215560|$ 197789|
|securities loaned ( d )|23582|14214|
jpmorgan chase & co./2012 annual report 249 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agreements 201d ) primarily to finance the firm 2019s inventory positions , acquire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations . securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets . resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest . securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received . where appropriate under applicable accounting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis . fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense , respectively . the firm has elected the fair value option for certain securities financing agreements . for further information regarding the fair value option , see note 4 on pages 214 2013 216 of this annual report . the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated balance sheets . generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue . however , for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue . the following table details the firm 2019s securities financing agreements , all of which are accounted for as collateralized financings during the periods presented . december 31 , ( in millions ) 2012 2011 securities purchased under resale agreements ( a ) $ 295413 $ 235000 securities borrowed ( b ) 119017 142462 securities sold under repurchase agreements ( c ) $ 215560 $ 197789 securities loaned ( d ) 23582 14214 ( a ) at december 31 , 2012 and 2011 , included resale agreements of $ 24.3 billion and $ 22.2 billion , respectively , accounted for at fair value . ( b ) at december 31 , 2012 and 2011 , included securities borrowed of $ 10.2 billion and $ 15.3 billion , respectively , accounted for at fair value . ( c ) at december 31 , 2012 and 2011 , included repurchase agreements of $ 3.9 billion and $ 6.8 billion , respectively , accounted for at fair value . ( d ) at december 31 , 2012 , included securities loaned of $ 457 million accounted for at fair value . there were no securities loaned accounted for at fair value at december 31 , 2011 . the amounts reported in the table above were reduced by $ 96.9 billion and $ 115.7 billion at december 31 , 2012 and 2011 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance . jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securities borrowed . the firm monitors the value of the underlying securities ( primarily g7 government securities , u.s . agency securities and agency mbs , and equities ) that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities . margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default . jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default . as a result of the firm 2019s credit risk mitigation practices with respect to resale and securities borrowed agreements as described above , the firm did not hold any reserves for credit impairment with respect to these agreements as of december 31 , 2012 and for further information regarding assets pledged and collateral received in securities financing agreements , see note 30 on pages 315 2013316 of this annual report. .
Question: in 2012 what was the ratio of the securities borrowed to the securities loaned
Answer: | 5.04694 |
FINQA4055 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements regulatory tax examinations the firm is subject to examination by the u.s . internal revenue service ( irs ) and other taxing authorities in jurisdictions where the firm has significant business operations , such as the united kingdom , japan , hong kong , korea and various states , such as new york . the tax years under examination vary by jurisdiction . the firm believes that during 2013 , certain audits have a reasonable possibility of being completed . the firm does not expect completion of these audits to have a material impact on the firm 2019s financial condition but it may be material to operating results for a particular period , depending , in part , on the operating results for that period . the table below presents the earliest tax years that remain subject to examination by major jurisdiction . jurisdiction december 2012 u.s . federal 1 2005 new york state and city 2 2004 .
|jurisdiction|as of december 2012|
|u.s . federal1|2005|
|new york state and city2|2004|
|united kingdom|2007|
|japan3|2008|
|hong kong|2005|
|korea|2008|
1 . irs examination of fiscal 2008 through calendar 2010 began during 2011 . irs examination of fiscal 2005 , 2006 and 2007 began during 2008 . irs examination of fiscal 2003 and 2004 has been completed , but the liabilities for those years are not yet final . the firm anticipates that the audits of fiscal 2005 through calendar 2010 should be completed during 2013 , and the audits of 2011 through 2012 should begin in 2013 . 2 . new york state and city examination of fiscal 2004 , 2005 and 2006 began in 2008 . 3 . japan national tax agency examination of fiscal 2005 through 2009 began in 2010 . the examinations have been completed , but the liabilities for 2008 and 2009 are not yet final . all years subsequent to the above remain open to examination by the taxing authorities . the firm believes that the liability for unrecognized tax benefits it has established is adequate in relation to the potential for additional assessments . in january 2013 , the firm was accepted into the compliance assurance process program by the irs . this program will allow the firm to work with the irs to identify and resolve potential u.s . federal tax issues before the filing of tax returns . the 2013 tax year will be the first year examined under the program . note 25 . business segments the firm reports its activities in the following four business segments : investment banking , institutional client services , investing & lending and investment management . basis of presentation in reporting segments , certain of the firm 2019s business lines have been aggregated where they have similar economic characteristics and are similar in each of the following areas : ( i ) the nature of the services they provide , ( ii ) their methods of distribution , ( iii ) the types of clients they serve and ( iv ) the regulatory environments in which they operate . the cost drivers of the firm taken as a whole 2014 compensation , headcount and levels of business activity 2014 are broadly similar in each of the firm 2019s business segments . compensation and benefits expenses in the firm 2019s segments reflect , among other factors , the overall performance of the firm as well as the performance of individual businesses . consequently , pre-tax margins in one segment of the firm 2019s business may be significantly affected by the performance of the firm 2019s other business segments . the firm allocates assets ( including allocations of excess liquidity and cash , secured client financing and other assets ) , revenues and expenses among the four reportable business segments . due to the integrated nature of these segments , estimates and judgments are made in allocating certain assets , revenues and expenses . transactions between segments are based on specific criteria or approximate third-party rates . total operating expenses include corporate items that have not been allocated to individual business segments . the allocation process is based on the manner in which management currently views the performance of the segments . goldman sachs 2012 annual report 195 .
Question: as of december 2012 , in years , was the hong kong exam opened earlier than the korea exam?
Answer: | no |
FINQA4056 | Please answer the given financial question based on the context.
Context: the pnc financial services group , inc . 2013 form 10-k 65 liquidity and capital management liquidity risk has two fundamental components . the first is potential loss assuming we were unable to meet our funding requirements at a reasonable cost . the second is the potential inability to operate our businesses because adequate contingent liquidity is not available . we manage liquidity risk at the consolidated company level ( bank , parent company and nonbank subsidiaries combined ) to help ensure that we can obtain cost-effective funding to meet current and future obligations under both normal 201cbusiness as usual 201d and stressful circumstances , and to help ensure that we maintain an appropriate level of contingent liquidity . management monitors liquidity through a series of early warning indicators that may indicate a potential market , or pnc-specific , liquidity stress event . in addition , management performs a set of liquidity stress tests over multiple time horizons with varying levels of severity and maintains a contingency funding plan to address a potential liquidity stress event . in the most severe liquidity stress simulation , we assume that our liquidity position is under pressure , while the market in general is under systemic pressure . the simulation considers , among other things , the impact of restricted access to both secured and unsecured external sources of funding , accelerated run-off of customer deposits , valuation pressure on assets and heavy demand to fund committed obligations . parent company liquidity guidelines are designed to help ensure that sufficient liquidity is available to meet our parent company obligations over the succeeding 24-month period . liquidity-related risk limits are established within our enterprise liquidity management policy and supporting policies . management committees , including the asset and liability committee , and the board of directors and its risk committee regularly review compliance with key established limits . in addition to these liquidity monitoring measures and tools described above , we also monitor our liquidity by reference to the liquidity coverage ratio ( lcr ) which is further described in the supervision and regulation section in item 1 of this report . pnc and pnc bank calculate the lcr on a daily basis and as of december 31 , 2018 , the lcr for pnc and pnc bank exceeded the fully phased-in requirement of 100% ( 100 % ) . we provide additional information regarding regulatory liquidity requirements and their potential impact on us in the supervision and regulation section of item 1 business and item 1a risk factors of this report . sources of liquidity our largest source of liquidity on a consolidated basis is the customer deposit base generated by our banking businesses . these deposits provide relatively stable and low-cost funding . total deposits increased to $ 267.8 billion at december 31 , 2018 from $ 265.1 billion at december 31 , 2017 driven by growth in interest-bearing deposits partially offset by a decrease in noninterest-bearing deposits . see the funding sources section of the consolidated balance sheet review in this report for additional information related to our deposits . additionally , certain assets determined by us to be liquid as well as unused borrowing capacity from a number of sources are also available to manage our liquidity position . at december 31 , 2018 , our liquid assets consisted of short-term investments ( federal funds sold , resale agreements , trading securities and interest-earning deposits with banks ) totaling $ 22.1 billion and securities available for sale totaling $ 63.4 billion . the level of liquid assets fluctuates over time based on many factors , including market conditions , loan and deposit growth and balance sheet management activities . our liquid assets included $ 2.7 billion of securities available for sale and trading securities pledged as collateral to secure public and trust deposits , repurchase agreements and for other purposes . in addition , $ 4.9 billion of securities held to maturity were also pledged as collateral for these purposes . we also obtain liquidity through various forms of funding , including long-term debt ( senior notes , subordinated debt and fhlb borrowings ) and short-term borrowings ( securities sold under repurchase agreements , commercial paper and other short-term borrowings ) . see note 10 borrowed funds and the funding sources section of the consolidated balance sheet review in this report for additional information related to our borrowings . total senior and subordinated debt , on a consolidated basis , decreased due to the following activity : table 24 : senior and subordinated debt .
|in billions|2018|
|january 1|$ 33.3|
|issuances|4.5|
|calls and maturities|-6.8 ( 6.8 )|
|other|-.1 ( .1 )|
|december 31|$ 30.9|
.
Question: what was the total percentage increase in total deposits from dec 31 , 2017 to dec 31 , 2018?
Answer: | 0.01018 |
FINQA4057 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements note 20 . regulation and capital adequacy the federal reserve board is the primary regulator of group inc. , a bank holding company under the bank holding company act of 1956 ( bhc act ) and a financial holding company under amendments to the bhc act effected by the u.s . gramm-leach-bliley act of 1999 . as a bank holding company , the firm is subject to consolidated regulatory capital requirements that are computed in accordance with the federal reserve board 2019s risk-based capital requirements ( which are based on the 2018basel 1 2019 capital accord of the basel committee ) . these capital requirements are expressed as capital ratios that compare measures of capital to risk-weighted assets ( rwas ) . the firm 2019s u.s . bank depository institution subsidiaries , including gs bank usa , are subject to similar capital requirements . under the federal reserve board 2019s capital adequacy requirements and the regulatory framework for prompt corrective action that is applicable to gs bank usa , the firm and its u.s . bank depository institution subsidiaries must meet specific capital requirements that involve quantitative measures of assets , liabilities and certain off- balance-sheet items as calculated under regulatory reporting practices . the firm and its u.s . bank depository institution subsidiaries 2019 capital amounts , as well as gs bank usa 2019s prompt corrective action classification , are also subject to qualitative judgments by the regulators about components , risk weightings and other factors . many of the firm 2019s subsidiaries , including gs&co . and the firm 2019s other broker-dealer subsidiaries , are subject to separate regulation and capital requirements as described below . group inc . federal reserve board regulations require bank holding companies to maintain a minimum tier 1 capital ratio of 4% ( 4 % ) and a minimum total capital ratio of 8% ( 8 % ) . the required minimum tier 1 capital ratio and total capital ratio in order to be considered a 201cwell-capitalized 201d bank holding company under the federal reserve board guidelines are 6% ( 6 % ) and 10% ( 10 % ) , respectively . bank holding companies may be expected to maintain ratios well above the minimum levels , depending on their particular condition , risk profile and growth plans . the minimum tier 1 leverage ratio is 3% ( 3 % ) for bank holding companies that have received the highest supervisory rating under federal reserve board guidelines or that have implemented the federal reserve board 2019s risk-based capital measure for market risk . other bank holding companies must have a minimum tier 1 leverage ratio of 4% ( 4 % ) . the table below presents information regarding group inc . 2019s regulatory capital ratios. .
|$ in millions|as of december 2012|as of december 2011|
|tier 1 capital|$ 66977|$ 63262|
|tier 2 capital|$ 13429|$ 13881|
|total capital|$ 80406|$ 77143|
|risk-weighted assets|$ 399928|$ 457027|
|tier 1 capital ratio|16.7% ( 16.7 % )|13.8% ( 13.8 % )|
|total capital ratio|20.1% ( 20.1 % )|16.9% ( 16.9 % )|
|tier 1 leverage ratio|7.3% ( 7.3 % )|7.0% ( 7.0 % )|
rwas under the federal reserve board 2019s risk-based capital requirements are calculated based on the amount of market risk and credit risk . rwas for market risk are determined by reference to the firm 2019s value-at-risk ( var ) model , supplemented by other measures to capture risks not reflected in the firm 2019s var model . credit risk for on- balance sheet assets is based on the balance sheet value . for off-balance sheet exposures , including otc derivatives and commitments , a credit equivalent amount is calculated based on the notional amount of each trade . all such assets and exposures are then assigned a risk weight depending on , among other things , whether the counterparty is a sovereign , bank or a qualifying securities firm or other entity ( or if collateral is held , depending on the nature of the collateral ) . tier 1 leverage ratio is defined as tier 1 capital under basel 1 divided by average adjusted total assets ( which includes adjustments for disallowed goodwill and intangible assets , and the carrying value of equity investments in non-financial companies that are subject to deductions from tier 1 capital ) . 184 goldman sachs 2012 annual report .
Question: what was the change in tier 1 capital in millions between 2011 and 2012?
Answer: | 3715.0 |
FINQA4058 | Please answer the given financial question based on the context.
Context: the company endeavors to actively engage with every insured account posing significant potential asbestos exposure to mt . mckinley . such engagement can take the form of pursuing a final settlement , negotiation , litigation , or the monitoring of claim activity under settlement in place ( 201csip 201d ) agreements . sip agreements generally condition an insurer 2019s payment upon the actual claim experience of the insured and may have annual payment caps or other measures to control the insurer 2019s payments . the company 2019s mt . mckinley operation is currently managing four sip agreements , one of which was executed prior to the acquisition of mt . mckinley in 2000 . the company 2019s preference with respect to coverage settlements is to execute settlements that call for a fixed schedule of payments , because such settlements eliminate future uncertainty . the company has significantly enhanced its classification of insureds by exposure characteristics over time , as well as its analysis by insured for those it considers to be more exposed or active . those insureds identified as relatively less exposed or active are subject to less rigorous , but still active management , with an emphasis on monitoring those characteristics , which may indicate an increasing exposure or levels of activity . the company continually focuses on further enhancement of the detailed estimation processes used to evaluate potential exposure of policyholders . everest re 2019s book of assumed a&e reinsurance is relatively concentrated within a limited number of contracts and for a limited period , from 1974 to 1984 . because the book of business is relatively concentrated and the company has been managing the a&e exposures for many years , its claim staff is familiar with the ceding companies that have generated most of these liabilities in the past and which are therefore most likely to generate future liabilities . the company 2019s claim staff has developed familiarity both with the nature of the business written by its ceding companies and the claims handling and reserving practices of those companies . this level of familiarity enhances the quality of the company 2019s analysis of its exposure through those companies . as a result , the company believes that it can identify those claims on which it has unusual exposure , such as non-products asbestos claims , for concentrated attention . however , in setting reserves for its reinsurance liabilities , the company relies on claims data supplied , both formally and informally by its ceding companies and brokers . this furnished information is not always timely or accurate and can impact the accuracy and timeliness of the company 2019s ultimate loss projections . the following table summarizes the composition of the company 2019s total reserves for a&e losses , gross and net of reinsurance , for the periods indicated: .
|( dollars in millions )|years ended december 31 , 2012|years ended december 31 , 2011|years ended december 31 , 2010|
|case reserves reported by ceding companies|$ 138.4|$ 145.6|$ 135.4|
|additional case reserves established by the company ( assumed reinsurance ) ( 1 )|90.6|102.9|116.1|
|case reserves established by the company ( direct insurance )|36.7|40.6|38.9|
|incurred but not reported reserves|177.1|210.9|264.4|
|gross reserves|442.8|499.9|554.8|
|reinsurance receivable|-17.1 ( 17.1 )|-19.8 ( 19.8 )|-21.9 ( 21.9 )|
|net reserves|$ 425.7|$ 480.2|$ 532.9|
( 1 ) additional reserves are case specific reserves established by the company in excess of those reported by the ceding company , based on the company 2019s assessment of the covered loss . ( some amounts may not reconcile due to rounding. ) additional losses , including those relating to latent injuries and other exposures , which are as yet unrecognized , the type or magnitude of which cannot be foreseen by either the company or the industry , may emerge in the future . such future emergence could have material adverse effects on the company 2019s future financial condition , results of operations and cash flows. .
Question: what is the percentage change in net reserves from 2011 to 2012?
Answer: | -0.11349 |
FINQA4059 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries notes to financial statements 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 $ 53 million in 2009 , $ 76 million in 2008 , and $ 50 million in 2007 . the amounts to be amortized to revenue for the next five years will be $ 46 million for 2010 , $ 43 million for 2011 , $ 17 million in 2012 , $ 18 million for 2013 , and $ 16 million for 2014 . nypa value sharing agreements non-utility nuclear's purchase of the fitzpatrick and indian point 3 plants from nypa included value sharing agreements with nypa . in october 2007 , non-utility nuclear and nypa amended and restated the value sharing agreements to clarify and amend certain provisions of the original terms . under the amended value sharing agreements , non-utility nuclear will make annual payments to nypa based on the generation output of the indian point 3 and fitzpatrick plants from january 2007 through december 2014 . non-utility nuclear will pay nypa $ 6.59 per mwh for power sold from indian point 3 , up to an annual cap of $ 48 million , and $ 3.91 per mwh for power sold from fitzpatrick , up to an annual cap of $ 24 million . the annual payment for each year's output is due by january 15 of the following year . non-utility nuclear will record its liability for payments to nypa as power is generated and sold by indian point 3 and fitzpatrick . an amount equal to the liability will be recorded to the plant asset account as contingent purchase price consideration for the plants . in 2009 , 2008 , and 2007 , non-utility nuclear recorded $ 72 million as plant for generation during each of those years . this amount will be depreciated over the expected remaining useful life of the plants . in august 2008 , non-utility nuclear entered into a resolution of a dispute with nypa over the applicability of the value sharing agreements to its fitzpatrick and indian point 3 nuclear power plants after the planned spin-off of the non-utility nuclear business . under the resolution , non-utility nuclear agreed not to treat the separation as a "cessation event" that would terminate its obligation to make the payments under the value sharing agreements . as a result , after the spin-off transaction , enexus will continue to be obligated to make payments to nypa under the amended and restated value sharing agreements. .
Question: what was the average amounts amortized to revenue from 2010to 2014
Answer: | 74.0 |
FINQA4060 | Please answer the given financial question based on the context.
Context: at december 31 , 2012 , the gross reserves for a&e losses were comprised of $ 138449 thousand representing case reserves reported by ceding companies , $ 90637 thousand representing additional case reserves established by the company on assumed reinsurance claims , $ 36667 thousand representing case reserves established by the company on direct excess insurance claims , including mt . mckinley , and $ 177068 thousand representing ibnr reserves . with respect to asbestos only , at december 31 , 2012 , the company had gross asbestos loss reserves of $ 422849 thousand , or 95.5% ( 95.5 % ) , of total a&e reserves , of which $ 339654 thousand was for assumed business and $ 83195 thousand was for direct business . future policy benefit reserve . activity in the reserve for future policy benefits is summarized for the periods indicated: .
|( dollars in thousands )|at december 31 , 2012|at december 31 , 2011|at december 31 , 2010|
|balance at beginning of year|$ 67187|$ 63002|$ 64536|
|liabilities assumed|126|176|172|
|adjustments to reserves|2365|8449|2944|
|benefits paid in the current year|-3571 ( 3571 )|-4440 ( 4440 )|-4650 ( 4650 )|
|balance at end of year|$ 66107|$ 67187|$ 63002|
4 . fair value the company 2019s fixed maturity and equity securities are primarily managed by third party investment asset managers . the investment asset managers obtain prices from nationally recognized pricing services . these services seek to utilize market data and observations in their evaluation process . they use pricing applications that vary by asset class and incorporate available market information and when fixed maturity securities do not trade on a daily basis the services will apply available information through processes such as benchmark curves , benchmarking of like securities , sector groupings and matrix pricing . in addition , they use model processes , such as the option adjusted spread model to develop prepayment and interest rate scenarios for securities that have prepayment features . in limited instances where prices are not provided by pricing services or in rare instances when a manager may not agree with the pricing service , price quotes on a non-binding basis are obtained from investment brokers . the investment asset managers do not make any changes to prices received from either the pricing services or the investment brokers . in addition , the investment asset managers have procedures in place to review the reasonableness of the prices from the service providers and may request verification of the prices . in addition , the company continually performs analytical reviews of price changes and tests the prices on a random basis to an independent pricing source . no material variances were noted during these price validation procedures . in limited situations , where financial markets are inactive or illiquid , the company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value . the company made no such adjustments at december 31 , 2012 and 2011 . the company internally manages a small public equity portfolio which had a fair value at december 31 , 2012 of $ 117602 thousand and all prices were obtained from publically published sources . equity securities in u.s . denominated currency are categorized as level 1 , quoted prices in active markets for identical assets , since the securities are actively traded on an exchange and prices are based on quoted prices from the exchange . equity securities traded on foreign exchanges are categorized as level 2 due to potential foreign exchange adjustments to fair or market value . fixed maturity securities are generally categorized as level 2 , significant other observable inputs , since a particular security may not have traded but the pricing services are able to use valuation models with observable market inputs such as interest rate yield curves and prices for similar fixed maturity securities in terms of issuer , maturity and seniority . valuations that are derived from techniques in which one or more of the significant inputs are unobservable ( including assumptions about risk ) are categorized as level 3 .
Question: what is the net change in reserve for future policy benefits during 2012?
Answer: | -1080.0 |
FINQA4061 | Please answer the given financial question based on the context.
Context: jpmorgan chase & co./2012 annual report 167 the chart shows that for year ended december 31 , 2012 , the firm posted market risk related gains on 220 of the 261 days in this period , with gains on eight days exceeding $ 200 million . the chart includes year to date losses incurred in the synthetic credit portfolio . cib and credit portfolio posted market risk-related gains on 254 days in the period . the inset graph looks at those days on which the firm experienced losses and depicts the amount by which var exceeded the actual loss on each of those days . of the losses that were sustained on the 41 days of the 261 days in the trading period , the firm sustained losses that exceeded the var measure on three of those days . these losses in excess of the var all occurred in the second quarter of 2012 and were due to the adverse effect of market movements on risk positions in the synthetic credit portfolio held by cio . during the year ended december 31 , 2012 , cib and credit portfolio experienced seven loss days ; none of the losses on those days exceeded their respective var measures . other risk measures debit valuation adjustment sensitivity the following table provides information about the gross sensitivity of dva to a one-basis-point increase in jpmorgan chase 2019s credit spreads . this sensitivity represents the impact from a one-basis-point parallel shift in jpmorgan chase 2019s entire credit curve . however , the sensitivity at a single point in time multiplied by the change in credit spread at a single maturity point may not be representative of the actual dva gain or loss realized within a period . the actual results reflect the movement in credit spreads across various maturities , which typically do not move in a parallel fashion , and is the product of a constantly changing exposure profile , among other factors . debit valuation adjustment sensitivity ( in millions ) one basis-point increase in jpmorgan chase 2019s credit spread .
|( in millions )|one basis-point increase injpmorgan chase 2019s credit spread|
|december 31 2012|$ 34|
|december 31 2011|35|
economic-value stress testing along with var , stress testing is important in measuring and controlling risk . while var reflects the risk of loss due to adverse changes in markets using recent historical market behavior as an indicator of losses , stress testing captures the firm 2019s exposure to unlikely but plausible events in abnormal markets . the firm runs weekly stress tests on market-related risks across the lines of business using multiple scenarios that assume significant changes in risk factors such as credit spreads , equity prices , interest rates , currency rates or commodity prices . the framework uses a grid-based approach , which calculates multiple magnitudes of stress for both market rallies and market sell-offs for .
Question: how often did the firm sustain losses that exceeded the var measure?
Answer: | 0.01149 |
FINQA4062 | Please answer the given financial question based on the context.
Context: item 1 . business loews hotels holding corporation the subsidiaries of loews hotels holding corporation ( 201cloews hotels 201d ) , our wholly owned subsidiary , presently operate the following 18 hotels . loews hotels accounted for 2.0% ( 2.0 % ) , 2.9% ( 2.9 % ) and 2.7% ( 2.7 % ) of our consolidated total revenue for the years ended december 31 , 2009 , 2008 and 2007 . number of name and location rooms owned , leased or managed loews annapolis hotel 220 owned annapolis , maryland loews coronado bay 440 land lease expiring 2034 san diego , california loews denver hotel 185 owned denver , colorado the don cesar , a loews hotel 347 management contract ( a ) ( b ) st . pete beach , florida hard rock hotel , 650 management contract ( c ) at universal orlando orlando , florida loews lake las vegas 493 management contract ( a ) henderson , nevada loews le concorde hotel 405 land lease expiring 2069 quebec city , canada the madison , a loews hotel 353 management contract expiring 2021 ( a ) washington , d.c . loews miami beach hotel 790 owned miami beach , florida loews new orleans hotel 285 management contract expiring 2018 ( a ) new orleans , louisiana loews philadelphia hotel 585 owned philadelphia , pennsylvania loews portofino bay hotel , 750 management contract ( c ) at universal orlando orlando , florida loews regency hotel 350 land lease expiring 2013 , with renewal option new york , new york for 47 years loews royal pacific resort 1000 management contract ( c ) at universal orlando orlando , florida loews santa monica beach hotel 340 management contract expiring 2018 , with santa monica , california renewal option for 5 years ( a ) loews vanderbilt hotel 340 owned nashville , tennessee loews ventana canyon 400 management contract expiring 2019 ( a ) tucson , arizona loews hotel vogue 140 owned montreal , canada ( a ) these management contracts are subject to termination rights . ( b ) a loews hotels subsidiary is a 20% ( 20 % ) owner of the hotel , which is being operated by loews hotels pursuant to a management contract . ( c ) a loews hotels subsidiary is a 50% ( 50 % ) owner of these hotels located at the universal orlando theme park , through a joint venture with universal studios and the rank group . the hotels are on land leased by the joint venture and are operated by loews hotels pursuant to a management contract. .
|name and location|number of rooms|owned leased or managed|
|loews annapolis hotel annapolis maryland|220|owned|
|loews coronado bay san diego california|440|land lease expiring 2034|
|loews denver hotel denver colorado|185|owned|
|the don cesar a loews hotel st . pete beach florida|347|management contract ( a ) ( b )|
|hard rock hotel at universal orlando orlando florida|650|management contract ( c )|
|loews lake las vegas henderson nevada|493|management contract ( a )|
|loews le concorde hotel quebec city canada|405|land lease expiring 2069|
|the madison a loews hotel washington d.c .|353|management contract expiring 2021 ( a )|
|loews miami beach hotel miami beach florida|790|owned|
|loews new orleans hotel new orleans louisiana|285|management contract expiring 2018 ( a )|
|loews philadelphia hotel philadelphia pennsylvania|585|owned|
|loews portofino bay hotel at universal orlando orlando florida|750|management contract ( c )|
|loews regency hotel new york new york|350|land lease expiring 2013 with renewal option for 47 years|
|loews royal pacific resort at universal orlando orlando florida|1000|management contract ( c )|
|loews santa monica beach hotel santa monica california|340|management contract expiring 2018 with renewal option for5 years ( a )|
|loews vanderbilt hotel nashville tennessee|340|owned|
|loews ventana canyon tucson arizona|400|management contract expiring 2019 ( a )|
|loews hotel vogue montreal canada|140|owned|
item 1 . business loews hotels holding corporation the subsidiaries of loews hotels holding corporation ( 201cloews hotels 201d ) , our wholly owned subsidiary , presently operate the following 18 hotels . loews hotels accounted for 2.0% ( 2.0 % ) , 2.9% ( 2.9 % ) and 2.7% ( 2.7 % ) of our consolidated total revenue for the years ended december 31 , 2009 , 2008 and 2007 . number of name and location rooms owned , leased or managed loews annapolis hotel 220 owned annapolis , maryland loews coronado bay 440 land lease expiring 2034 san diego , california loews denver hotel 185 owned denver , colorado the don cesar , a loews hotel 347 management contract ( a ) ( b ) st . pete beach , florida hard rock hotel , 650 management contract ( c ) at universal orlando orlando , florida loews lake las vegas 493 management contract ( a ) henderson , nevada loews le concorde hotel 405 land lease expiring 2069 quebec city , canada the madison , a loews hotel 353 management contract expiring 2021 ( a ) washington , d.c . loews miami beach hotel 790 owned miami beach , florida loews new orleans hotel 285 management contract expiring 2018 ( a ) new orleans , louisiana loews philadelphia hotel 585 owned philadelphia , pennsylvania loews portofino bay hotel , 750 management contract ( c ) at universal orlando orlando , florida loews regency hotel 350 land lease expiring 2013 , with renewal option new york , new york for 47 years loews royal pacific resort 1000 management contract ( c ) at universal orlando orlando , florida loews santa monica beach hotel 340 management contract expiring 2018 , with santa monica , california renewal option for 5 years ( a ) loews vanderbilt hotel 340 owned nashville , tennessee loews ventana canyon 400 management contract expiring 2019 ( a ) tucson , arizona loews hotel vogue 140 owned montreal , canada ( a ) these management contracts are subject to termination rights . ( b ) a loews hotels subsidiary is a 20% ( 20 % ) owner of the hotel , which is being operated by loews hotels pursuant to a management contract . ( c ) a loews hotels subsidiary is a 50% ( 50 % ) owner of these hotels located at the universal orlando theme park , through a joint venture with universal studios and the rank group . the hotels are on land leased by the joint venture and are operated by loews hotels pursuant to a management contract. .
Question: how many rooms does loews hotel have outside the us?
Answer: | 545.0 |
FINQA4063 | Please answer the given financial question based on the context.
Context: shareholder return performance presentation the graph presented below compares the cumulative total shareholder return on state street's common stock to the cumulative total return of the s&p 500 index and the s&p financial index over a five-year period . the cumulative total shareholder return assumes the investment of $ 100 in state street common stock and in each index on december 31 , 2007 at the closing price on the last trading day of 2007 , and also assumes reinvestment of common stock dividends . the s&p financial index is a publicly available measure of 80 of the standard & poor's 500 companies , representing 26 diversified financial services companies , 22 insurance companies , 17 real estate companies and 15 banking companies . comparison of five-year cumulative total shareholder return .
||2007|2008|2009|2010|2011|2012|
|state street corporation|$ 100|$ 49|$ 55|$ 58|$ 52|$ 61|
|s&p 500 index|100|63|80|92|94|109|
|s&p financial index|100|45|52|59|49|63|
.
Question: what is the roi of an investment in s&p500 index from 2007 to 2009?
Answer: | -0.2 |
FINQA4064 | Please answer the given financial question based on the context.
Context: consolidated income statement review our consolidated income statement is presented in item 8 of this report . net income for 2008 was $ 882 million and for 2007 was $ 1.467 billion . total revenue for 2008 increased 7% ( 7 % ) compared with 2007 . we created positive operating leverage in the year-to-date comparison as total noninterest expense increased 3% ( 3 % ) in the comparison . net interest income and net interest margin year ended december 31 dollars in millions 2008 2007 .
|year ended december 31 dollars in millions|2008|2007|
|net interest income|$ 3823|$ 2915|
|net interest margin|3.37% ( 3.37 % )|3.00% ( 3.00 % )|
changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding . see statistical information 2013 analysis of year-to-year changes in net interest ( unaudited ) income and average consolidated balance sheet and net interest analysis in item 8 of this report for additional information . the 31% ( 31 % ) increase in net interest income for 2008 compared with 2007 was favorably impacted by the $ 16.5 billion , or 17% ( 17 % ) , increase in average interest-earning assets and a decrease in funding costs . the 2008 net interest margin was positively affected by declining rates paid on deposits and borrowings compared with the prior year . the reasons driving the higher interest-earning assets in these comparisons are further discussed in the balance sheet highlights portion of the executive summary section of this item 7 . the net interest margin was 3.37% ( 3.37 % ) for 2008 and 3.00% ( 3.00 % ) for 2007 . the following factors impacted the comparison : 2022 a decrease in the rate paid on interest-bearing liabilities of 140 basis points . the rate paid on interest-bearing deposits , the single largest component , decreased 123 basis points . 2022 these factors were partially offset by a 77 basis point decrease in the yield on interest-earning assets . the yield on loans , the single largest component , decreased 109 basis points . 2022 in addition , the impact of noninterest-bearing sources of funding decreased 26 basis points due to lower interest rates and a lower proportion of noninterest- bearing sources of funding to interest-earning assets . for comparing to the broader market , during 2008 the average federal funds rate was 1.94% ( 1.94 % ) compared with 5.03% ( 5.03 % ) for 2007 . we expect our full-year 2009 net interest income to benefit from the impact of interest accretion of discounts resulting from purchase accounting marks and deposit pricing alignment related to our national city acquisition . we also currently expect our 2009 net interest margin to improve on a year-over-year basis . noninterest income summary noninterest income was $ 3.367 billion for 2008 and $ 3.790 billion for 2007 . noninterest income for 2008 included the following : 2022 gains of $ 246 million related to the mark-to-market adjustment on our blackrock ltip shares obligation , 2022 losses related to our commercial mortgage loans held for sale of $ 197 million , net of hedges , 2022 impairment and other losses related to alternative investments of $ 179 million , 2022 income from hilliard lyons totaling $ 164 million , including the first quarter gain of $ 114 million from the sale of this business , 2022 net securities losses of $ 206 million , 2022 a first quarter gain of $ 95 million related to the redemption of a portion of our visa class b common shares related to visa 2019s march 2008 initial public offering , 2022 a third quarter $ 61 million reversal of a legal contingency reserve established in connection with an acquisition due to a settlement , 2022 trading losses of $ 55 million , 2022 a $ 35 million impairment charge on commercial mortgage servicing rights , and 2022 equity management losses of $ 24 million . noninterest income for 2007 included the following : 2022 the impact of $ 82 million gain recognized in connection with our transfer of blackrock shares to satisfy a portion of pnc 2019s ltip obligation and a $ 209 million net loss on our ltip shares obligation , 2022 income from hilliard lyons totaling $ 227 million , 2022 trading income of $ 104 million , 2022 equity management gains of $ 102 million , and 2022 gains related to our commercial mortgage loans held for sale of $ 3 million , net of hedges . apart from the impact of these items , noninterest income increased $ 16 million in 2008 compared with 2007 . additional analysis fund servicing fees increased $ 69 million in 2008 , to $ 904 million , compared with $ 835 million in 2007 . the impact of the december 2007 acquisition of albridge solutions inc . ( 201calbridge solutions 201d ) and growth in global investment servicing 2019s offshore operations were the primary drivers of this increase . global investment servicing provided fund accounting/ administration services for $ 839 billion of net fund investment assets and provided custody services for $ 379 billion of fund .
Question: what was the average net interest margin for 2008 and for 2007?
Answer: | 3.185 |
FINQA4065 | Please answer the given financial question based on the context.
Context: shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the sec , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing . the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index , and the dow jones transportation average . the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2008 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock. .
||12/31/2008|12/31/2009|12/31/2010|12/31/2011|12/31/2012|12/31/2013|
|united parcel service inc .|$ 100.00|$ 107.75|$ 140.39|$ 145.84|$ 151.44|$ 221.91|
|standard & poor 2019s 500 index|$ 100.00|$ 126.45|$ 145.49|$ 148.55|$ 172.30|$ 228.09|
|dow jones transportation average|$ 100.00|$ 118.59|$ 150.30|$ 150.31|$ 161.56|$ 228.42|
.
Question: what was the percentage total cumulative return on investment for united parcel service inc . for the five years ended 12/31/2013?
Answer: | 1.2191 |
FINQA4066 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries management's financial discussion and analysis the purchased power capacity variance is primarily due to higher capacity charges . a portion of the variance is due to the amortization of deferred capacity costs and is offset in base revenues due to base rate increases implemented to recover incremental deferred and ongoing purchased power capacity charges . the volume/weather variance is primarily due to the effect of less favorable weather compared to the same period in 2007 and decreased electricity usage primarily during the unbilled sales period . hurricane gustav and hurricane ike , which hit the utility's service territories in september 2008 , contributed an estimated $ 46 million to the decrease in electricity usage . industrial sales were also depressed by the continuing effects of the hurricanes and , especially in the latter part of the year , because of the overall decline of the economy , leading to lower usage in the latter part of the year affecting both the large customer industrial segment as well as small and mid-sized industrial customers . the decreases in electricity usage were partially offset by an increase in residential and commercial customer electricity usage that occurred during the periods of the year not affected by the hurricanes . the retail electric price variance is primarily due to : an increase in the attala power plant costs recovered through the power management rider by entergy mississippi . the net income effect of this recovery is limited to a portion representing an allowed return on equity with the remainder offset by attala power plant costs in other operation and maintenance expenses , depreciation expenses , and taxes other than income taxes ; a storm damage rider that became effective in october 2007 at entergy mississippi ; and an energy efficiency rider that became effective in november 2007 at entergy arkansas . the establishment of the storm damage rider and the energy efficiency rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense with no impact on net income . the retail electric price variance was partially offset by : the absence of interim storm recoveries through the formula rate plans at entergy louisiana and entergy gulf states louisiana which ceased upon the act 55 financing of storm costs in the third quarter 2008 ; and a credit passed on to customers as a result of the act 55 storm cost financings . refer to "liquidity and capital resources - hurricane katrina and hurricane rita" below and note 2 to the financial statements for a discussion of the interim recovery of storm costs and the act 55 storm cost financings . non-utility nuclear following is an analysis of the change in net revenue comparing 2008 to 2007 . amount ( in millions ) .
||amount ( in millions )|
|2007 net revenue|$ 1839|
|realized price changes|309|
|palisades acquisition|98|
|volume variance ( other than palisades )|73|
|fuel expenses ( other than palisades )|-19 ( 19 )|
|other|34|
|2008 net revenue|$ 2334|
as shown in the table above , net revenue for non-utility nuclear increased by $ 495 million , or 27% ( 27 % ) , in 2008 compared to 2007 primarily due to higher pricing in its contracts to sell power , additional production available from the acquisition of palisades in april 2007 , and fewer outage days . in addition to the refueling outages shown in the .
Question: in the analysis of the change in the net revenue between 2007 and 2008 what was the ratio of the revenues from realized price changes to the palisades acquisition
Answer: | 3.15306 |
FINQA4067 | Please answer the given financial question based on the context.
Context: 6 . debt the following is a summary of outstanding debt ( in millions ) : .
|as of december 31|2015|2014|
|5.00% ( 5.00 % ) senior notes due september 2020|599|599|
|4.75% ( 4.75 % ) senior notes due 2045|598|2014|
|3.50% ( 3.50 % ) senior notes due june 2024|597|597|
|4.60% ( 4.60 % ) senior notes due june 2044|549|549|
|2.875% ( 2.875 % ) senior notes due may 2026 ( eur 500m )|545|605|
|8.205% ( 8.205 % ) junior subordinated notes due january 2027|521|521|
|3.125% ( 3.125 % ) senior notes due may 2016|500|500|
|2.80% ( 2.80 % ) senior notes due 2021|399|2014|
|4.00% ( 4.00 % ) senior notes due november 2023|349|349|
|6.25% ( 6.25 % ) senior notes due september 2040|298|298|
|4.76% ( 4.76 % ) senior notes due march 2018 ( cad 375m )|271|322|
|4.45% ( 4.45 % ) senior notes due may 2043|249|248|
|4.25% ( 4.25 % ) senior notes due december 2042|196|196|
|3.50% ( 3.50 % ) senior notes due september 2015|2014|599|
|commercial paper|50|168|
|other|16|31|
|total debt|5737|5582|
|less short-term and current portion of long-term debt|562|783|
|total long-term debt|$ 5175|$ 4799|
revolving credit facilities as of december 31 , 2015 , aon plc had two committed credit facilities outstanding : its $ 400 million u.s . credit facility expiring in march 2017 ( the "2017 facility" ) and $ 900 million multi-currency u.s . credit facility expiring in february 2020 ( the "2020 facility" ) . the 2020 facility was entered into on february 2 , 2015 and replaced the previous 20ac650 million european credit facility . effective february 2 , 2016 , the 2020 facility terms were extended for 1 year and will expire in february 2021 . each of these facilities included customary representations , warranties and covenants , including financial covenants that require aon plc to maintain specified ratios of adjusted consolidated ebitda to consolidated interest expense and consolidated debt to adjusted consolidated ebitda , in each case , tested quarterly . at december 31 , 2015 , aon plc did not have borrowings under either the 2017 facility or the 2020 facility , and was in compliance with these financial covenants and all other covenants contained therein during the twelve months ended december 31 , 2015 . on november 13 , 2015 , aon plc issued $ 400 million of 2.80% ( 2.80 % ) senior notes due march 2021 . we used the proceeds of the issuance for general corporate purposes . on september 30 , 2015 , $ 600 million of 3.50% ( 3.50 % ) senior notes issued by aon corporation matured and were repaid . on may 20 , 2015 , the aon plc issued $ 600 million of 4.750% ( 4.750 % ) senior notes due may 2045 . the company used the proceeds of the issuance for general corporate purposes . on august 12 , 2014 , aon plc issued $ 350 million of 3.50% ( 3.50 % ) senior notes due june 2024 . the 3.50% ( 3.50 % ) notes due 2024 constitute a further issuance of , and were consolidated to form a single series of debt securities with , the $ 250 million of 3.50% ( 3.50 % ) notes due june 2024 that was issued by aon plc on may 20 , 2014 concurrently with aon plc's issuance of $ 550 million of 4.60% ( 4.60 % ) notes due june 2044 . aon plc used the proceeds from these issuances for working capital and general corporate purposes. .
Question: what portion of the total debt is reported under current liabilities section as of december 31 , 2015?
Answer: | 0.09796 |
FINQA4068 | Please answer the given financial question based on the context.
Context: item 7 . management 2019s discussion and analysis of financial condition and results of operations the following discussion of historical results of operations and financial condition should be read in conjunction with the audited financial statements and the notes thereto which appear elsewhere in this report . overview on april 12 , 1999 , pca acquired the containerboard and corrugated products business of pactiv corporation ( the 201cgroup 201d ) , formerly known as tenneco packaging inc. , a wholly owned subsidiary of tenneco , inc . the group operated prior to april 12 , 1999 as a division of pactiv , and not as a separate , stand-alone entity . from its formation in january 1999 and through the closing of the acquisition on april 12 , 1999 , pca did not have any significant operations . the april 12 , 1999 acquisition was accounted for using historical values for the contributed assets . purchase accounting was not applied because , under the applicable accounting guidance , a change of control was deemed not to have occurred as a result of the participating veto rights held by pactiv after the closing of the transactions under the terms of the stockholders agreement entered into in connection with the transactions . results of operations year ended december 31 , 2005 compared to year ended december 31 , 2004 the historical results of operations of pca for the years ended december , 31 2005 and 2004 are set forth the below : for the year ended december 31 , ( in millions ) 2005 2004 change .
|( in millions )|for the year ended december 31 , 2005|for the year ended december 31 , 2004|change|
|net sales|$ 1993.7|$ 1890.1|$ 103.6|
|income before interest and taxes|$ 116.1|$ 140.5|$ -24.4 ( 24.4 )|
|interest expense net|-28.1 ( 28.1 )|-29.6 ( 29.6 )|1.5|
|income before taxes|88.0|110.9|-22.9 ( 22.9 )|
|provision for income taxes|-35.4 ( 35.4 )|-42.2 ( 42.2 )|6.8|
|net income|$ 52.6|$ 68.7|$ -16.1 ( 16.1 )|
net sales net sales increased by $ 103.6 million , or 5.5% ( 5.5 % ) , for the year ended december 31 , 2005 from the year ended december 31 , 2004 . net sales increased primarily due to increased sales prices and volumes of corrugated products compared to 2004 . total corrugated products volume sold increased 4.2% ( 4.2 % ) to 31.2 billion square feet in 2005 compared to 29.9 billion square feet in 2004 . on a comparable shipment-per-workday basis , corrugated products sales volume increased 4.6% ( 4.6 % ) in 2005 from 2004 . excluding pca 2019s acquisition of midland container in april 2005 , corrugated products volume was 3.0% ( 3.0 % ) higher in 2005 than 2004 and up 3.4% ( 3.4 % ) compared to 2004 on a shipment-per-workday basis . shipments-per-workday is calculated by dividing our total corrugated products volume during the year by the number of workdays within the year . the larger percentage increase was due to the fact that 2005 had one less workday ( 250 days ) , those days not falling on a weekend or holiday , than 2004 ( 251 days ) . containerboard sales volume to external domestic and export customers decreased 12.2% ( 12.2 % ) to 417000 tons for the year ended december 31 , 2005 from 475000 tons in 2004. .
Question: what was the effective tax rate for pca in 2005?
Answer: | 0.40227 |
FINQA4069 | Please answer the given financial question based on the context.
Context: entergy mississippi may refinance , redeem , or otherwise retire debt and preferred stock prior to maturity , to the extent market conditions and interest and dividend rates are favorable . all debt and common and preferred stock issuances by entergy mississippi require prior regulatory approval . a0 a0preferred stock and debt issuances are also subject to issuance tests set forth in its corporate charter , bond indenture , and other agreements . a0 a0entergy mississippi has sufficient capacity under these tests to meet its foreseeable capital needs . entergy mississippi 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 )|
|$ 1633|$ 10595|$ 25930|$ 644|
see note 4 to the financial statements for a description of the money pool . entergy mississippi has four separate credit facilities in the aggregate amount of $ 102.5 million scheduled to expire may 2018 . no borrowings were outstanding under the credit facilities as of december a031 , 2017 . a0 a0in addition , entergy mississippi is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations to miso . as of december a031 , 2017 , a $ 15.3 million letter of credit was outstanding under entergy mississippi 2019s uncommitted letter of credit facility . see note 4 to the financial statements for additional discussion of the credit facilities . entergy mississippi obtained authorizations from the ferc through october 2019 for short-term borrowings not to exceed an aggregate amount of $ 175 million at any time outstanding and long-term borrowings and security issuances . see note 4 to the financial statements for further discussion of entergy mississippi 2019s short-term borrowing limits . entergy mississippi , inc . management 2019s financial discussion and analysis state and local rate regulation and fuel-cost recovery the rates that entergy mississippi charges for electricity significantly influence its financial position , results of operations , and liquidity . entergy mississippi is regulated and the rates charged to its customers are determined in regulatory proceedings . a governmental agency , the mpsc , is primarily responsible for approval of the rates charged to customers . formula rate plan in march 2016 , entergy mississippi submitted its formula rate plan 2016 test year filing showing entergy mississippi 2019s projected earned return for the 2016 calendar year to be below the formula rate plan bandwidth . the filing showed a $ 32.6 million rate increase was necessary to reset entergy mississippi 2019s earned return on common equity to the specified point of adjustment of 9.96% ( 9.96 % ) , within the formula rate plan bandwidth . in june 2016 the mpsc approved entergy mississippi 2019s joint stipulation with the mississippi public utilities staff . the joint stipulation provided for a total revenue increase of $ 23.7 million . the revenue increase includes a $ 19.4 million increase through the formula rate plan , resulting in a return on common equity point of adjustment of 10.07% ( 10.07 % ) . the revenue increase also includes $ 4.3 million in incremental ad valorem tax expenses to be collected through an updated ad valorem tax adjustment rider . the revenue increase and ad valorem tax adjustment rider were effective with the july 2016 bills . in march 2017 , entergy mississippi submitted its formula rate plan 2017 test year filing and 2016 look-back filing showing entergy mississippi 2019s earned return for the historical 2016 calendar year and projected earned return for the 2017 calendar year to be within the formula rate plan bandwidth , resulting in no change in rates . in june 2017 , entergy mississippi and the mississippi public utilities staff entered into a stipulation that confirmed that entergy .
Question: what percent of the 2016 money pool receivables was the 2017 receivables?
Answer: | 0.15413 |
FINQA4070 | Please answer the given financial question based on the context.
Context: notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201ccompany 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d . 1 . nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s . our network includes 32122 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s . gateways and providing several corridors to key mexican gateways . we own 26042 miles and operate on the remainder pursuant to trackage rights or leases . we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico . export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders . the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment . although we provide and analyze revenue by commodity group , we treat the financial results of the railroad as one segment due to the integrated nature of our rail network . the following table provides freight revenue by commodity group: .
|millions|2017|2016|2015|
|agricultural products|$ 3685|$ 3625|$ 3581|
|automotive|1998|2000|2154|
|chemicals|3596|3474|3543|
|coal|2645|2440|3237|
|industrial products|4078|3348|3808|
|intermodal|3835|3714|4074|
|total freight revenues|$ 19837|$ 18601|$ 20397|
|other revenues|1403|1340|1416|
|total operating revenues|$ 21240|$ 19941|$ 21813|
although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products we transport are outside the u.s . each of our commodity groups includes revenue from shipments to and from mexico . included in the above table are freight revenues from our mexico business which amounted to $ 2.3 billion in 2017 , $ 2.2 billion in 2016 , and $ 2.2 billion in 2015 . basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s . ( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) . 2 . significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries . investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting . all intercompany transactions are eliminated . we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements . cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less . accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts . the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions . receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .
Question: in 2017 what was the percent of the total operating revenues that was attributable to industrial products
Answer: | 0.192 |
FINQA4071 | Please answer the given financial question based on the context.
Context: during 2005 , we amended our $ 1.0 billion unsecured revolving credit facility to extend its maturity date from march 27 , 2008 to march 27 , 2010 , and reduce the effective interest rate to libor plus 1.0% ( 1.0 % ) and the commitment fee to 0.2% ( 0.2 % ) of the undrawn portion of the facility at december 31 , 2005 . in addition , in 2005 , we entered into two $ 100.0 million unsecured term loans , due 2010 , at an effective interest rate of libor plus 0.8% ( 0.8 % ) at december 31 , 2005 . during 2004 , we entered into an eight-year , $ 225.0 million unse- cured term loan , at libor plus 1.75% ( 1.75 % ) , which was amended in 2005 to reduce the effective interest rate to libor plus 1.0% ( 1.0 % ) at december 31 , 2005 . the liquid yield option 2122 notes and the zero coupon convertible notes are unsecured zero coupon bonds with yields to maturity of 4.875% ( 4.875 % ) and 4.75% ( 4.75 % ) , respectively , due 2021 . each liquid yield option 2122 note and zero coupon convertible note was issued at a price of $ 381.63 and $ 391.06 , respectively , and will have a principal amount at maturity of $ 1000 . each liquid yield option 2122 note and zero coupon convertible note is convertible at the option of the holder into 11.7152 and 15.6675 shares of common stock , respec- tively , if the market price of our common stock reaches certain lev- els . these conditions were met at december 31 , 2005 and 2004 for the zero coupon convertible notes and at december 31 , 2004 for the liquid yield option 2122 notes . since february 2 , 2005 , we have the right to redeem the liquid yield option 2122 notes and commencing on may 18 , 2006 , we will have the right to redeem the zero coupon con- vertible notes at their accreted values for cash as a whole at any time , or from time to time in part . holders may require us to pur- chase any outstanding liquid yield option 2122 notes at their accreted value on february 2 , 2011 and any outstanding zero coupon con- vertible notes at their accreted value on may 18 , 2009 and may 18 , 2014 . we may choose to pay the purchase price in cash or common stock or a combination thereof . during 2005 , holders of our liquid yield option 2122 notes and zero coupon convertible notes converted approximately $ 10.4 million and $ 285.0 million , respectively , of the accreted value of these notes into approximately 0.3 million and 9.4 million shares , respec- tively , of our common stock and cash for fractional shares . in addi- tion , we called for redemption $ 182.3 million of the accreted bal- ance of outstanding liquid yield option 2122 notes . most holders of the liquid yield option 2122 notes elected to convert into shares of our common stock , rather than redeem for cash , resulting in the issuance of approximately 4.5 million shares . during 2005 , we prepaid a total of $ 297.0 million on a term loan secured by a certain celebrity ship and on a variable rate unsecured term loan . in 1996 , we entered into a $ 264.0 million capital lease to finance splendour of the seas and in 1995 we entered into a $ 260.0 million capital lease to finance legend of the seas . during 2005 , we paid $ 335.8 million in connection with the exercise of purchase options on these capital lease obligations . under certain of our agreements , the contractual interest rate and commitment fee vary with our debt rating . the unsecured senior notes and senior debentures are not redeemable prior to maturity . our debt agreements contain covenants that require us , among other things , to maintain minimum net worth and fixed charge cov- erage ratio and limit our debt to capital ratio . we are in compliance with all covenants as of december 31 , 2005 . following is a schedule of annual maturities on long-term debt as of december 31 , 2005 for each of the next five years ( in thousands ) : .
|2006|$ 600883|
|2007|329493|
|2008|245257|
|2009 ( 1 )|361449|
|2010|687376|
1 the $ 137.9 million accreted value of the zero coupon convertible notes at december 31 , 2005 is included in year 2009 . the holders of our zero coupon convertible notes may require us to purchase any notes outstanding at an accreted value of $ 161.7 mil- lion on may 18 , 2009 . this accreted value was calculated based on the number of notes outstanding at december 31 , 2005 . we may choose to pay any amounts in cash or common stock or a combination thereof . note 6 . shareholders 2019 equity on september 25 , 2005 , we announced that we and an investment bank had finalized a forward sale agreement relating to an asr transaction . as part of the asr transaction , we purchased 5.5 million shares of our common stock from the investment bank at an initial price of $ 45.40 per share . total consideration paid to repurchase such shares , including commissions and other fees , was approxi- mately $ 249.1 million and was recorded in shareholders 2019 equity as a component of treasury stock . the forward sale contract matured in february 2006 . during the term of the forward sale contract , the investment bank purchased shares of our common stock in the open market to settle its obliga- tion related to the shares borrowed from third parties and sold to us . upon settlement of the contract , we received 218089 additional shares of our common stock . these incremental shares will be recorded in shareholders 2019 equity as a component of treasury stock in the first quarter of 2006 . our employee stock purchase plan ( 201cespp 201d ) , which has been in effect since january 1 , 1994 , facilitates the purchase by employees of up to 800000 shares of common stock . offerings to employees are made on a quarterly basis . subject to certain limitations , the pur- chase price for each share of common stock is equal to 90% ( 90 % ) of the average of the market prices of the common stock as reported on the new york stock exchange on the first business day of the pur- chase period and the last business day of each month of the pur- chase period . shares of common stock of 14476 , 13281 and 21280 38 royal caribbean cruises ltd . notes to the consolidated financial statements ( continued ) .
Question: what percentage of debt maturity was there in 2010 , relative to 2006?
Answer: | 114.39432 |
FINQA4072 | Please answer the given financial question based on the context.
Context: westrock company notes to consolidated financial statements 2014 ( continued ) consistent with prior years , we consider a portion of our earnings from certain foreign subsidiaries as subject to repatriation and we provide for taxes accordingly . however , we consider the unremitted earnings and all other outside basis differences from all other foreign subsidiaries to be indefinitely reinvested . accordingly , we have not provided for any taxes that would be due . as of september 30 , 2019 , we estimate our outside basis difference in foreign subsidiaries that are considered indefinitely reinvested to be approximately $ 1.6 billion . the components of the outside basis difference are comprised of purchase accounting adjustments , undistributed earnings , and equity components . except for the portion of our earnings from certain foreign subsidiaries where we provided for taxes , we have not provided for any taxes that would be due upon the reversal of the outside basis differences . however , in the event of a distribution in the form of dividends or dispositions of the subsidiaries , we may be subject to incremental u.s . income taxes , subject to an adjustment for foreign tax credits , and withholding taxes or income taxes payable to the foreign jurisdictions . as of september 30 , 2019 , the determination of the amount of unrecognized deferred tax liability related to any remaining undistributed foreign earnings not subject to the transition tax and additional outside basis differences is not practicable . a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in millions ) : .
||2019|2018|2017|
|balance at beginning of fiscal year|$ 127.1|$ 148.9|$ 166.8|
|additions related to purchase accounting ( 1 )|1.0|3.4|7.7|
|additions for tax positions taken in current year ( 2 )|103.8|3.1|5.0|
|additions for tax positions taken in prior fiscal years|1.8|18.0|15.2|
|reductions for tax positions taken in prior fiscal years|( 0.5 )|( 5.3 )|( 25.6 )|
|reductions due to settlement ( 3 )|( 4.0 )|( 29.4 )|( 14.1 )|
|( reductions ) additions for currency translation adjustments|-1.7 ( 1.7 )|-9.6 ( 9.6 )|2.0|
|reductions as a result of a lapse of the applicable statute oflimitations|( 3.2 )|( 2.0 )|( 8.1 )|
|balance at end of fiscal year|$ 224.3|$ 127.1|$ 148.9|
( 1 ) amounts in fiscal 2019 relate to the kapstone acquisition . amounts in fiscal 2018 and 2017 relate to the mps acquisition . ( 2 ) additions for tax positions taken in current fiscal year includes primarily positions taken related to foreign subsidiaries . ( 3 ) amounts in fiscal 2019 relate to the settlements of state and foreign audit examinations . amounts in fiscal 2018 relate to the settlement of state audit examinations and federal and state amended returns filed related to affirmative adjustments for which there was a reserve . amounts in fiscal 2017 relate to the settlement of federal and state audit examinations with taxing authorities . as of september 30 , 2019 and 2018 , the total amount of unrecognized tax benefits was approximately $ 224.3 million and $ 127.1 million , respectively , exclusive of interest and penalties . of these balances , as of september 30 , 2019 and 2018 , if we were to prevail on all unrecognized tax benefits recorded , approximately $ 207.5 million and $ 108.7 million , respectively , would benefit the effective tax rate . we regularly evaluate , assess and adjust the related liabilities in light of changing facts and circumstances , which could cause the effective tax rate to fluctuate from period to period . resolution of the uncertain tax positions could have a material adverse effect on our cash flows or materially benefit our results of operations in future periods depending upon their ultimate resolution . see 201cnote 18 . commitments and contingencies 2014 brazil tax liability 201d we recognize estimated interest and penalties related to unrecognized tax benefits in income tax expense in the consolidated statements of income . as of september 30 , 2019 , we had liabilities of $ 80.0 million related to estimated interest and penalties for unrecognized tax benefits . as of september 30 , 2018 , we had liabilities of $ 70.4 million , related to estimated interest and penalties for unrecognized tax benefits . our results of operations for the fiscal year ended september 30 , 2019 , 2018 and 2017 include expense of $ 9.7 million , $ 5.8 million and $ 7.4 million , respectively , net of indirect benefits , related to estimated interest and penalties with respect to the liability for unrecognized tax benefits . as of september 30 , 2019 , it is reasonably possible that our unrecognized tax benefits will decrease by up to $ 8.7 million in the next twelve months due to expiration of various statues of limitations and settlement of issues. .
Question: what was the percentage change in the gross unrecognized tax benefits from 2017 to 2018 $ 127.1
Answer: | -0.14641 |
FINQA4073 | Please answer the given financial question based on the context.
Context: 12 . brokerage receivables and brokerage payables the company has receivables and payables for financial instruments sold to and purchased from brokers , dealers and customers , which arise in the ordinary course of business . citi is exposed to risk of loss from the inability of brokers , dealers or customers to pay for purchases or to deliver the financial instruments sold , in which case citi would have to sell or purchase the financial instruments at prevailing market prices . credit risk is reduced to the extent that an exchange or clearing organization acts as a counterparty to the transaction and replaces the broker , dealer or customer in question . citi seeks to protect itself from the risks associated with customer activities by requiring customers to maintain margin collateral in compliance with regulatory and internal guidelines . margin levels are monitored daily , and customers deposit additional collateral as required . where customers cannot meet collateral requirements , citi may liquidate sufficient underlying financial instruments to bring the customer into compliance with the required margin level . exposure to credit risk is impacted by market volatility , which may impair the ability of clients to satisfy their obligations to citi . credit limits are established and closely monitored for customers and for brokers and dealers engaged in forwards , futures and other transactions deemed to be credit sensitive . brokerage receivables and brokerage payables consisted of the following: .
|in millions of dollars|december 31 , 2018|december 31 , 2017|
|receivables from customers|$ 14415|$ 19215|
|receivables from brokers dealers and clearing organizations|21035|19169|
|total brokerage receivables ( 1 )|$ 35450|$ 38384|
|payables to customers|$ 40273|$ 38741|
|payables to brokers dealers and clearing organizations|24298|22601|
|total brokerage payables ( 1 )|$ 64571|$ 61342|
total brokerage payables ( 1 ) $ 64571 $ 61342 ( 1 ) includes brokerage receivables and payables recorded by citi broker-dealer entities that are accounted for in accordance with the aicpa accounting guide for brokers and dealers in securities as codified in asc 940-320. .
Question: what percentage of total brokerage payables at december 31 , 2018 where receivables from customers?
Answer: | 0.22324 |
FINQA4074 | Please answer the given financial question based on the context.
Context: development of prior year incurred losses was $ 135.6 million unfavorable in 2006 , $ 26.4 million favorable in 2005 and $ 249.4 million unfavorable in 2004 . such losses were the result of the reserve development noted above , as well as inher- ent uncertainty in establishing loss and lae reserves . reserves for asbestos and environmental losses and loss adjustment expenses as of year end 2006 , 7.4% ( 7.4 % ) of reserves reflect an estimate for the company 2019s ultimate liability for a&e claims for which ulti- mate value cannot be estimated using traditional reserving techniques . the company 2019s a&e liabilities stem from mt . mckinley 2019s direct insurance business and everest re 2019s assumed reinsurance business . there are significant uncertainties in estimating the amount of the company 2019s potential losses from a&e claims . see item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014asbestos and environmental exposures 201d and note 3 of notes to consolidated financial statements . mt . mckinley 2019s book of direct a&e exposed insurance is relatively small and homogenous . it also arises from a limited period , effective 1978 to 1984 . the book is based principally on excess liability policies , thereby limiting exposure analysis to a lim- ited number of policies and forms . as a result of this focused structure , the company believes that it is able to comprehen- sively analyze its exposures , allowing it to identify , analyze and actively monitor those claims which have unusual exposure , including policies in which it may be exposed to pay expenses in addition to policy limits or non-products asbestos claims . the company endeavors to be actively engaged with every insured account posing significant potential asbestos exposure to mt . mckinley . such engagement can take the form of pursuing a final settlement , negotiation , litigation , or the monitoring of claim activity under settlement in place ( 201csip 201d ) agreements . sip agreements generally condition an insurer 2019s payment upon the actual claim experience of the insured and may have annual payment caps or other measures to control the insurer 2019s payments . the company 2019s mt . mckinley operation is currently managing eight sip agreements , three of which were executed prior to the acquisition of mt . mckinley in 2000 . the company 2019s preference with respect to coverage settlements is to exe- cute settlements that call for a fixed schedule of payments , because such settlements eliminate future uncertainty . the company has significantly enhanced its classification of insureds by exposure characteristics over time , as well as its analysis by insured for those it considers to be more exposed or active . those insureds identified as relatively less exposed or active are subject to less rigorous , but still active management , with an emphasis on monitoring those characteristics , which may indicate an increasing exposure or levels of activity . the company continually focuses on further enhancement of the detailed estimation processes used to evaluate potential exposure of policyholders , including those that may not have reported significant a&e losses . everest re 2019s book of assumed reinsurance is relatively concentrated within a modest number of a&e exposed relationships . it also arises from a limited period , effectively 1977 to 1984 . because the book of business is relatively concentrated and the company has been managing the a&e exposures for many years , its claim staff is familiar with the ceding companies that have generated most of these liabilities in the past and which are therefore most likely to generate future liabilities . the company 2019s claim staff has developed familiarity both with the nature of the business written by its ceding companies and the claims handling and reserving practices of those companies . this level of familiarity enhances the quality of the company 2019s analysis of its exposure through those companies . as a result , the company believes that it can identify those claims on which it has unusual exposure , such as non-products asbestos claims , for concentrated attention . however , in setting reserves for its reinsurance liabilities , the company relies on claims data supplied , both formally and informally by its ceding companies and brokers . this furnished information is not always timely or accurate and can impact the accuracy and timeli- ness of the company 2019s ultimate loss projections . the following table summarizes the composition of the company 2019s total reserves for a&e losses , gross and net of reinsurance , for the years ended december 31: .
|( dollars in millions )|2006|2005|2004|
|case reserves reported by ceding companies|$ 135.6|$ 125.2|$ 148.5|
|additional case reserves established by the company ( assumed reinsurance ) ( 1 )|152.1|157.6|151.3|
|case reserves established by the company ( direct insurance )|213.7|243.5|272.1|
|incurred but not reported reserves|148.7|123.3|156.4|
|gross reserves|650.1|649.6|728.3|
|reinsurance receivable|-138.7 ( 138.7 )|-199.1 ( 199.1 )|-221.6 ( 221.6 )|
|net reserves|$ 511.4|$ 450.5|$ 506.7|
( 1 ) additional reserves are case specific reserves determined by the company to be needed over and above those reported by the ceding company . 81790fin_a 4/13/07 11:08 am page 15 .
Question: what is the growth rate in net reserves in 2006?
Answer: | 0.13518 |
FINQA4075 | Please answer the given financial question based on the context.
Context: zimmer biomet holdings , inc . and subsidiaries 2018 form 10-k annual report notes to consolidated financial statements ( continued ) default for unsecured financing arrangements , including , among other things , limitations on consolidations , mergers and sales of assets . financial covenants under the 2018 , 2016 and 2014 credit agreements include a consolidated indebtedness to consolidated ebitda ratio of no greater than 5.0 to 1.0 through june 30 , 2017 , and no greater than 4.5 to 1.0 thereafter . if our credit rating falls below investment grade , additional restrictions would result , including restrictions on investments and payment of dividends . we were in compliance with all covenants under the 2018 , 2016 and 2014 credit agreements as of december 31 , 2018 . as of december 31 , 2018 , there were no borrowings outstanding under the multicurrency revolving facility . we may , at our option , redeem our senior notes , in whole or in part , at any time upon payment of the principal , any applicable make-whole premium , and accrued and unpaid interest to the date of redemption , except that the floating rate notes due 2021 may not be redeemed until on or after march 20 , 2019 and such notes do not have any applicable make-whole premium . in addition , we may redeem , at our option , the 2.700% ( 2.700 % ) senior notes due 2020 , the 3.375% ( 3.375 % ) senior notes due 2021 , the 3.150% ( 3.150 % ) senior notes due 2022 , the 3.700% ( 3.700 % ) senior notes due 2023 , the 3.550% ( 3.550 % ) senior notes due 2025 , the 4.250% ( 4.250 % ) senior notes due 2035 and the 4.450% ( 4.450 % ) senior notes due 2045 without any make-whole premium at specified dates ranging from one month to six months in advance of the scheduled maturity date . the estimated fair value of our senior notes as of december 31 , 2018 , based on quoted prices for the specific securities from transactions in over-the-counter markets ( level 2 ) , was $ 7798.9 million . the estimated fair value of japan term loan a and japan term loan b , in the aggregate , as of december 31 , 2018 , based upon publicly available market yield curves and the terms of the debt ( level 2 ) , was $ 294.7 million . the carrying values of u.s . term loan b and u.s . term loan c approximate fair value as they bear interest at short-term variable market rates . we entered into interest rate swap agreements which we designated as fair value hedges of underlying fixed-rate obligations on our senior notes due 2019 and 2021 . these fair value hedges were settled in 2016 . in 2016 , we entered into various variable-to-fixed interest rate swap agreements that were accounted for as cash flow hedges of u.s . term loan b . in 2018 , we entered into cross-currency interest rate swaps that we designated as net investment hedges . the excluded component of these net investment hedges is recorded in interest expense , net . see note 13 for additional information regarding our interest rate swap agreements . we also have available uncommitted credit facilities totaling $ 55.0 million . at december 31 , 2018 and 2017 , the weighted average interest rate for our borrowings was 3.1 percent and 2.9 percent , respectively . we paid $ 282.8 million , $ 317.5 million , and $ 363.1 million in interest during 2018 , 2017 , and 2016 , respectively . 12 . accumulated other comprehensive ( loss ) income aoci refers to certain gains and losses that under gaap are included in comprehensive income but are excluded from net earnings as these amounts are initially recorded as an adjustment to stockholders 2019 equity . amounts in aoci may be reclassified to net earnings upon the occurrence of certain events . our aoci is comprised of foreign currency translation adjustments , including unrealized gains and losses on net investment hedges , unrealized gains and losses on cash flow hedges , and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions on our defined benefit plans . foreign currency translation adjustments are reclassified to net earnings upon sale or upon a complete or substantially complete liquidation of an investment in a foreign entity . unrealized gains and losses on cash flow hedges are reclassified to net earnings when the hedged item affects net earnings . amounts related to defined benefit plans that are in aoci are reclassified over the service periods of employees in the plan . see note 14 for more information on our defined benefit plans . the following table shows the changes in the components of aoci , net of tax ( in millions ) : foreign currency translation hedges defined benefit plan items .
||foreign currency translation|cash flow hedges|defined benefit plan items|total aoci|
|balance december 31 2017|$ 121.5|$ -66.5 ( 66.5 )|$ -138.2 ( 138.2 )|$ -83.2 ( 83.2 )|
|aoci before reclassifications|-135.4 ( 135.4 )|68.2|-29.7 ( 29.7 )|-96.9 ( 96.9 )|
|reclassifications to retained earnings ( note 2 )|-17.4 ( 17.4 )|-4.4 ( 4.4 )|-21.1 ( 21.1 )|-42.9 ( 42.9 )|
|reclassifications|-|23.6|12.0|35.6|
|balance december 31 2018|$ -31.3 ( 31.3 )|$ 20.9|$ -177.0 ( 177.0 )|$ -187.4 ( 187.4 )|
.
Question: what percentage of aoci at december 31 , 2018 is attributed to defined benefit plan items?
Answer: | 0.9445 |
FINQA4076 | Please answer the given financial question based on the context.
Context: corporate/other corporate/other includes global staff functions ( includes finance , risk , human resources , legal and compliance ) and other corporate expense , global operations and technology ( o&t ) , residual corporate treasury and corporate items . at december 31 , 2009 , this segment had approximately $ 230 billion of assets , consisting primarily of the company 2019s liquidity portfolio , including $ 110 billion of cash and cash equivalents. .
|in millions of dollars|2009|2008|2007|
|net interest revenue|$ -1663 ( 1663 )|$ -2680 ( 2680 )|$ -2008 ( 2008 )|
|non-interest revenue|-8893 ( 8893 )|422|-302 ( 302 )|
|total revenues net of interest expense|$ -10556 ( 10556 )|$ -2258 ( 2258 )|$ -2310 ( 2310 )|
|total operating expenses|$ 1420|$ 510|$ 1813|
|provisions for loan losses and for benefits and claims|-1 ( 1 )|1|-3 ( 3 )|
|( loss ) from continuing operations before taxes|$ -11975 ( 11975 )|$ -2769 ( 2769 )|$ -4120 ( 4120 )|
|income taxes ( benefits )|-4369 ( 4369 )|-587 ( 587 )|-1446 ( 1446 )|
|( loss ) from continuing operations|$ -7606 ( 7606 )|$ -2182 ( 2182 )|$ -2674 ( 2674 )|
|income ( loss ) from discontinued operations net of taxes|-445 ( 445 )|4002|708|
|net income ( loss ) before attribution of noncontrolling interests|$ -8051 ( 8051 )|$ 1820|$ -1966 ( 1966 )|
|net income attributable to noncontrolling interests|2014|2014|2|
|net income ( loss )|$ -8051 ( 8051 )|$ 1820|$ -1968 ( 1968 )|
2009 vs . 2008 revenues , net of interest expense declined , primarily due to the pretax loss on debt extinguishment related to the repayment of the $ 20 billion of tarp trust preferred securities and the pretax loss in connection with the exit from the loss-sharing agreement with the u.s . government . revenues also declined , due to the absence of the 2008 sale of citigroup global services limited recorded in o&t . this was partially offset by a pretax gain related to the exchange offers , revenues and higher intersegment eliminations . operating expenses increased , primarily due to intersegment eliminations and increases in compensation , partially offset by lower repositioning reserves . 2008 vs . 2007 revenues , net of interest expense increased primarily due to the gain in 2007 on the sale of certain corporate-owned assets and higher intersegment eliminations , partially offset by improved treasury hedging activities . operating expenses declined , primarily due to lower restructuring charges in 2008 as well as reductions in incentive compensation and benefits expense. .
Question: what was the percentage change in total operating expenses between 2007 and 2008?
Answer: | -0.7187 |
FINQA4077 | Please answer the given financial question based on the context.
Context: entergy louisiana , inc . management's financial discussion and analysis setting any of entergy louisiana's rates . therefore , to the extent entergy louisiana's use of the proceeds would ordinarily have reduced its rate base , no change in rate base shall be reflected for ratemaking purposes . the sec approval for additional return of equity capital is now expired . entergy louisiana's receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .
|2004|2003|2002|2001|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 40549|( $ 41317 )|$ 18854|$ 3812|
money pool activity used $ 81.9 million of entergy louisiana's operating cash flow in 2004 , provided $ 60.2 million in 2003 , and used $ 15.0 million in 2002 . see note 4 to the domestic utility companies and system energy financial statements for a description of the money pool . investing activities the decrease of $ 25.1 million in net cash used by investing activities in 2004 was primarily due to decreased spending on customer service projects , partially offset by increases in spending on transmission projects and fossil plant projects . the increase of $ 56.0 million in net cash used by investing activities in 2003 was primarily due to increased spending on customer service , transmission , and nuclear projects . financing activities the decrease of $ 404.4 million in net cash used by financing activities in 2004 was primarily due to : 2022 the net issuance of $ 98.0 million of long-term debt in 2004 compared to the retirement of $ 261.0 million in 2022 a principal payment of $ 14.8 million in 2004 for the waterford lease obligation compared to a principal payment of $ 35.4 million in 2003 ; and 2022 a decrease of $ 29.0 million in common stock dividends paid . the decrease of $ 105.5 million in net cash used by financing activities in 2003 was primarily due to : 2022 a decrease of $ 125.9 million in common stock dividends paid ; and 2022 the repurchase of $ 120 million of common stock from entergy corporation in 2002 . the decrease in net cash used in 2003 was partially offset by the following : 2022 the retirement in 2003 of $ 150 million of 8.5% ( 8.5 % ) series first mortgage bonds compared to the net retirement of $ 134.6 million of first mortgage bonds in 2002 ; and 2022 principal payments of $ 35.4 million in 2003 for the waterford 3 lease obligation compared to principal payments of $ 15.9 million in 2002 . see note 5 to the domestic utility companies and system energy financial statements for details of long-term debt . uses of capital entergy louisiana requires capital resources for : 2022 construction and other capital investments ; 2022 debt and preferred stock maturities ; 2022 working capital purposes , including the financing of fuel and purchased power costs ; and 2022 dividend and interest payments. .
Question: what is the difference of the payment for waterford lease obligation between 2003 and 2004?
Answer: | 20.6 |
FINQA4078 | Please answer the given financial question based on the context.
Context: a valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized . changes to our valuation allowance during the year ended december 31 , 2017 , the 2016 fiscal transition period and the years ended may 31 , 2016 and 2015 are summarized below ( in thousands ) : .
|balance at may 31 2014|$ -7199 ( 7199 )|
|utilization of foreign net operating loss carryforwards|3387|
|other|-11 ( 11 )|
|balance at may 31 2015|-3823 ( 3823 )|
|allowance for foreign income tax credit carryforward|-7140 ( 7140 )|
|allowance for domestic net operating loss carryforwards|-4474 ( 4474 )|
|allowance for domestic net unrealized capital loss|-1526 ( 1526 )|
|release of allowance of domestic capital loss carryforward|1746|
|other|98|
|balance at may 31 2016|-15119 ( 15119 )|
|allowance for domestic net operating loss carryforwards|-1504 ( 1504 )|
|release of allowance of domestic net unrealized capital loss|12|
|balance at december 31 2016|-16611 ( 16611 )|
|allowance for foreign net operating loss carryforwards|-6469 ( 6469 )|
|allowance for domestic net operating loss carryforwards|-3793 ( 3793 )|
|allowance for state credit carryforwards|-685 ( 685 )|
|rate change on domestic net operating loss and capital loss carryforwards|3868|
|utilization of foreign income tax credit carryforward|7140|
|balance at december 31 2017|$ -16550 ( 16550 )|
the increase in the valuation allowance related to net operating loss carryforwards of $ 10.3 million for the year ended december 31 , 2017 relates primarily to carryforward assets recorded as part of the acquisition of active network . the increase in the valuation allowance related to domestic net operating loss carryforwards of $ 1.5 million and $ 4.5 million for the 2016 fiscal transition period and the year ended may 31 , 2016 , respectively , relates to acquired carryforwards from the merger with heartland . foreign net operating loss carryforwards of $ 43.2 million and domestic net operating loss carryforwards of $ 28.9 million at december 31 , 2017 will expire between december 31 , 2026 and december 31 , 2037 if not utilized . we conduct business globally and file income tax returns in the domestic federal jurisdiction and various state and foreign jurisdictions . in the normal course of business , we are subject to examination by taxing authorities around the world . we are no longer subjected to state income tax examinations for years ended on or before may 31 , 2008 , u.s . federal income tax examinations for years ended on or before december 31 , 2013 and u.k . federal income tax examinations for years ended on or before may 31 , 2014 . 88 2013 global payments inc . | 2017 form 10-k annual report .
Question: what was the net change in the valuation allowance in thousands between 2016 and 2017?
Answer: | 61.0 |
FINQA4079 | Please answer the given financial question based on the context.
Context: shareholder return performance the line graph below compares the annual percentage change in ball corporation fffds cumulative total shareholder return on its common stock with the cumulative total return of the dow jones containers & packaging index and the s&p composite 500 stock index for the five-year period ended december 31 , 2011 . it assumes $ 100 was invested on december 31 , 2006 , and that all dividends were reinvested . the dow jones containers & packaging index total return has been weighted by market capitalization . total return to stockholders ( assumes $ 100 investment on 12/31/06 ) total return analysis .
||12/31/2006|12/31/2007|12/31/2008|12/31/2009|12/31/2010|12/31/2011|
|ball corporation|$ 100.00|$ 104.05|$ 97.04|$ 121.73|$ 161.39|$ 170.70|
|dj us containers & packaging|$ 100.00|$ 106.73|$ 66.91|$ 93.98|$ 110.23|$ 110.39|
|s&p 500|$ 100.00|$ 105.49|$ 66.46|$ 84.05|$ 96.71|$ 98.75|
copyright a9 2012 standard & poor fffds , a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) copyright a9 2012 dow jones & company . all rights reserved. .
Question: what was the five year return on ball corporation stock , in dollars per share?
Answer: | 70.7 |
FINQA4080 | Please answer the given financial question based on the context.
Context: pro forma financial information the following pro forma consolidated condensed financial results of operations are presented as if the acquisition of the valves & controls business occurred on october 1 , 2015 . the pro forma information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved had the acquisition occurred as of that time. .
||2016|2017|
|net sales|$ 16201|16112|
|net earnings from continuing operations common stockholders|$ 1482|1692|
|diluted earnings per share from continuing operations|$ 2.28|2.62|
the pro forma results for 2016 were adjusted to include first year acquisition accounting charges related to inventory and backlog of $ 122 in 2017 . the pro forma 2016 results also include acquisition costs of $ 52 , while the 2017 pro forma results were adjusted to exclude these charges . on october 2 , 2017 , the company sold its residential storage business for $ 200 in cash , subject to post-closing adjustments , and expects to recognize a loss of approximately $ 40 in 2018 due to income taxes resulting from nondeductible goodwill . the company expects to realize approximately $ 140 in after-tax cash proceeds from the sale . this business , with sales of $ 298 and pretax earnings of $ 15 in 2017 , is a leader in home organization and storage systems , and was reported within the tools & home products segment . assets and liabilities were classified as held-for-sale as of september 30 , 2017 . the company acquired six businesses in 2016 , four in automation solutions and two in climate technologies . total cash paid for these businesses was $ 132 , net of cash acquired . annualized sales for these businesses were approximately $ 51 in 2016 . the company recognized goodwill of $ 83 ( $ 27 of which is expected to be tax deductible ) and other identifiable intangible assets of $ 50 , primarily customer relationships and intellectual property with a weighted-average life of approximately nine years . the company completed eight acquisitions in 2015 , seven in automation solutions and one in tools & home products , which had combined annualized sales of approximately $ 115 . total cash paid for all businesses was $ 324 , net of cash acquired . the company recognized goodwill of $ 178 ( $ 42 of which is expected to be tax deductible ) and other intangible assets of $ 128 , primarily customer relationships and intellectual property with a weighted-average life of approximately ten years . in january 2015 , the company completed the sale of its mechanical power transmission solutions business for $ 1.4 billion , and recognized a pretax gain from the transaction of $ 939 ( $ 532 after-tax , $ 0.78 per share ) . assets and liabilities sold were as follows : current assets , $ 182 ( accounts receivable , inventories , other current assets ) ; other assets , $ 374 ( property , plant and equipment , goodwill , other noncurrent assets ) ; accrued expenses , $ 56 ( accounts payable , other current liabilities ) ; and other liabilities , $ 41 . proceeds from the divestiture were used for share repurchase . this business was previously reported in the former industrial automation segment , and had partial year sales in 2015 of $ 189 and related pretax earnings of $ 21 . power transmission solutions designs and manufactures market-leading couplings , bearings , conveying components and gearing and drive components , and provides supporting services and solutions . on september 30 , 2015 , the company sold its intermetro commercial storage business for $ 411 in cash and recognized a pretax gain from the transaction of $ 100 ( $ 79 after-tax , $ 0.12 per share ) . this business had annual sales of $ 288 and pretax earnings of $ 42 in 2015 and was reported in the former commercial & residential solutions segment . assets and liabilities sold were as follows : current assets , $ 62 ( accounts receivable , inventories , other current assets ) ; other assets , $ 292 ( property , plant and equipment , goodwill , other noncurrent assets ) ; current liabilities , $ 34 ( accounts payable , other current liabilities ) ; and other liabilities , $ 9 . intermetro is a leading manufacturer and supplier of storage and transport products in the food service , commercial products and health care industries . the results of operations of the acquired businesses discussed above have been included in the company 2019s consolidated results of operations since the respective dates of acquisition . ( 4 ) discontinued operations in 2017 , the company completed the previously announced strategic actions to streamline its portfolio and drive growth in its core businesses . on november 30 , 2016 , the company completed the sale of its network power systems business for $ 4.0 billion in cash and retained a subordinated interest in distributions , contingent upon the equity holders first receiving a threshold return on their initial investment . this business comprised the former network power segment . additionally , on january 31 , 2017 , the company completed the sale of its power generation , motors and drives business for approximately $ 1.2 billion , subject to post-closing .
Question: what was the percentage change on pro forma basis of the diluted earnings per share from continuing operations between 2016 and 2017?
Answer: | 0.14912 |
FINQA4081 | Please answer the given financial question based on the context.
Context: issuer purchases of equity securities the following table provides information regarding purchases of our common stock that were made by us during the fourth quarter of 2011 . period total number of shares purchased ( 2 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs ( 1 ) maximum dollar value of shares that may yet be purchased under the plans or programs ( 1 ) ( in millions ) .
|period|total number of shares purchased ( 2 )|average price paid per share|total number of shares purchased as part ofpublicly announced plans or programs ( 1 )|maximum dollar value of shares that may yetbe purchased under the plans or programs ( 1 ) ( in millions )|
|october 1 2013 october 31|3228557|$ 58.52|3227800|$ 108|
|november 1 2013 november 30|1813994|$ 66.38|1618110|$ 2014|
|december 1 2013 december 31|475685|$ 64.68|2014|$ 2014|
|total|5518236|$ 61.64|4845910||
( 1 ) in may 2010 , our board of directors approved a $ 3.5 billion share repurchase program . we completed this program in the fourth quarter of 2011 . in total , we repurchased 49.2 million common shares for $ 3.5 billion , or $ 71.18 per share , under this program . ( 2 ) during the fourth quarter of 2011 , we repurchased 672326 shares from company employees for the payment of personal income tax withholdings resulting from restricted stock vesting and stock option exercises . such repurchases are in addition to the $ 3.5 billion repurchase program . under the devon energy corporation incentive savings plan ( the 201cplan 201d ) , eligible employees may purchase shares of our common stock through an investment in the devon stock fund ( the 201cstock fund 201d ) , which is administered by an independent trustee , fidelity management trust company . eligible employees purchased approximately 45000 shares of our common stock in 2011 , at then-prevailing stock prices , that they held through their ownership in the stock fund . we acquired the shares of our common stock sold under the plan through open-market purchases . we filed a registration statement on form s-8 on january 26 , 2012 registering any offers and sales of interests in the plan or the stock fund and of the underlying shares of our common stock purchased by plan participants after that date . similarly , under the devon canada corporation savings plan ( the 201ccanadian plan 201d ) , eligible canadian employees may purchase shares of our common stock through an investment in the canadian plan , which is administered by an independent trustee , sun life assurance company of canada . eligible canadian employees purchased approximately 9000 shares of our common stock in 2011 , at then-prevailing stock prices , that they held through their ownership in the canadian plan . we acquired the shares sold under the canadian plan through open-market purchases . these shares and any interest in the canadian plan were offered and sold in reliance on the exemptions for offers and sales of securities made outside of the u.s. , including under regulation s for offers and sales of securities to employees pursuant to an employee benefit plan established and administered in accordance with the law of a country other than the u.s. .
Question: what was the average change in the share price from october to november
Answer: | 0.13431 |
FINQA4082 | Please answer the given financial question based on the context.
Context: average securities purchased under resale agreements increased to $ 4.69 billion for the year ended december 31 , 2011 from $ 2.96 billion for the year ended december 31 , 2010 . average trading account assets increased to $ 2.01 billion for the year ended december 31 , 2011 from $ 376 million for 2010 . averages benefited largely from an increase in client demand associated with our trading activities . in connection with these activities , we traded in highly liquid fixed-income securities as principal with our custody clients and other third- parties that trade in these securities . our average investment securities portfolio increased to $ 103.08 billion for the year ended december 31 , 2011 from $ 96.12 billion for 2010 . the increase was generally the result of ongoing purchases of securities , partly offset by maturities and sales . in december 2010 , we repositioned our portfolio by selling approximately $ 11 billion of mortgage- and asset-backed securities and re-investing approximately $ 7 billion of the proceeds , primarily in agency mortgage-backed securities . the repositioning was undertaken to enhance our regulatory capital ratios under evolving regulatory capital standards , increase our balance sheet flexibility in deploying our capital , and reduce our exposure to certain asset classes . during 2011 , we purchased $ 54 billion of highly rated u.s . treasury securities , federal agency mortgage-backed securities and u.s . and non-u.s . asset-backed securities . as of december 31 , 2011 , securities rated 201caaa 201d and 201caa 201d comprised approximately 89% ( 89 % ) of our portfolio , compared to 90% ( 90 % ) rated 201caaa 201d and 201caa 201d as of december 31 , 2010 . loans and leases averaged $ 12.18 billion for the year ended december 31 , 2011 , compared to $ 12.09 billion for 2010 . the increases primarily resulted from higher client demand for short-duration liquidity , offset in part by a decrease in leases and the purchased receivables added in connection with the conduit consolidation , mainly from maturities and pay-downs . for 2011 and 2010 , approximately 29% ( 29 % ) and 27% ( 27 % ) , respectively , of our average loan and lease portfolio was composed of short-duration advances that provided liquidity to clients in support of their investment activities related to securities settlement . the following table presents average u.s . and non-u.s . short-duration advances for the years indicated: .
|( in millions )|years ended december 31 , 2011|years ended december 31 , 2010|years ended december 31 , 2009|
|average u.s . short-duration advances|$ 1994|$ 1924|$ 2213|
|average non-u.s . short-duration advances|1585|1366|761|
|total average short-duration advances|$ 3579|$ 3290|$ 2974|
for the year ended december 31 , 2011 , the increase in average non-u.s . short-duration advances compared to the prior-year period was mainly due to activity associated with clients added in connection with the acquired intesa securities services business . average other interest-earning assets increased to $ 5.46 billion for the year ended december 31 , 2011 from $ 1.16 billion for 2010 . the increase was primarily the result of higher levels of cash collateral provided in connection with our role as principal in certain securities borrowing activities . average interest-bearing deposits increased to $ 88.06 billion for the year ended december 31 , 2011 from $ 76.96 billion for 2010 . the increase reflected client deposits added in connection with the may 2010 acquisition of the intesa securities services business , and higher levels of non-u.s . transaction accounts associated with new and existing business in assets under custody and administration . average other short-term borrowings declined to $ 5.13 billion for the year ended december 31 , 2011 from $ 13.59 billion for 2010 , as the higher levels of client deposits provided additional liquidity . average long-term debt increased to $ 8.97 billion for the year ended december 31 , 2011 from $ 8.68 billion for the same period in 2010 . the increase primarily reflected the issuance of an aggregate of $ 2 billion of senior notes by us in march 2011 , partly offset by the maturities of $ 1 billion of senior notes in february 2011 and $ 1.45 billion of senior notes in september 2011 , both previously issued by state street bank under the fdic 2019s temporary liquidity guarantee program . additional information about our long-term debt is provided in note 9 to the consolidated financial statements included under item 8. .
Question: what is the net change in loans and leases in 2011 , ( in billions ) ?
Answer: | 0.09 |
FINQA4083 | Please answer the given financial question based on the context.
Context: marathon oil corporation notes to consolidated financial statements operating lease rental expense was : ( in millions ) 2008 2007 2006 minimum rental ( a ) $ 245 $ 209 $ 172 .
|( in millions )|2008|2007|2006|
|minimum rental ( a )|$ 245|$ 209|$ 172|
|contingent rental|22|33|28|
|sublease rentals|2013|2013|-7 ( 7 )|
|net rental expense|$ 267|$ 242|$ 193|
( a ) excludes $ 5 million , $ 8 million and $ 9 million paid by united states steel in 2008 , 2007 and 2006 on assumed leases . 27 . contingencies and commitments we are the subject of , or party to , a number of pending or threatened legal actions , contingencies and commitments involving a variety of matters , including laws and regulations relating to the environment . certain of these matters are discussed below . the ultimate resolution of these contingencies could , individually or in the aggregate , be material to our consolidated financial statements . however , management believes that we will remain a viable and competitive enterprise even though it is possible that these contingencies could be resolved unfavorably . environmental matters 2013 we are subject to federal , state , local and foreign laws and regulations relating to the environment . these laws generally provide for control of pollutants released into the environment and require responsible parties to undertake remediation of hazardous waste disposal sites . penalties may be imposed for noncompliance . at december 31 , 2008 and 2007 , accrued liabilities for remediation totaled $ 111 million and $ 108 million . it is not presently possible to estimate the ultimate amount of all remediation costs that might be incurred or the penalties that may be imposed . receivables for recoverable costs from certain states , under programs to assist companies in clean-up efforts related to underground storage tanks at retail marketing outlets , were $ 60 and $ 66 million at december 31 , 2008 and 2007 . we are a defendant , along with other refining companies , in 20 cases arising in three states alleging damages for methyl tertiary-butyl ether ( 201cmtbe 201d ) contamination . we have also received seven toxic substances control act notice letters involving potential claims in two states . such notice letters are often followed by litigation . like the cases that were settled in 2008 , the remaining mtbe cases are consolidated in a multidistrict litigation in the southern district of new york for pretrial proceedings . nineteen of the remaining cases allege damages to water supply wells , similar to the damages claimed in the settled cases . in the other remaining case , the state of new jersey is seeking natural resources damages allegedly resulting from contamination of groundwater by mtbe . this is the only mtbe contamination case in which we are a defendant and natural resources damages are sought . we are vigorously defending these cases . we , along with a number of other defendants , have engaged in settlement discussions related to the majority of the cases in which we are a defendant . we do not expect our share of liability , if any , for the remaining cases to significantly impact our consolidated results of operations , financial position or cash flows . a lawsuit filed in the united states district court for the southern district of west virginia alleges that our catlettsburg , kentucky , refinery distributed contaminated gasoline to wholesalers and retailers for a period prior to august , 2003 , causing permanent damage to storage tanks , dispensers and related equipment , resulting in lost profits , business disruption and personal and real property damages . following the incident , we conducted remediation operations at affected facilities , and we deny that any permanent damages resulted from the incident . class action certification was granted in august 2007 . we have entered into a tentative settlement agreement in this case . notice of the proposed settlement has been sent to the class members . approval by the court after a fairness hearing is required before the settlement can be finalized . the fairness hearing is scheduled in the first quarter of 2009 . the proposed settlement will not significantly impact our consolidated results of operations , financial position or cash flows . guarantees 2013 we have provided certain guarantees , direct and indirect , of the indebtedness of other companies . under the terms of most of these guarantee arrangements , we would be required to perform should the guaranteed party fail to fulfill its obligations under the specified arrangements . in addition to these financial guarantees , we also have various performance guarantees related to specific agreements. .
Question: by how much did net rental expense increase from 2006 to 2008?
Answer: | 0.38342 |
FINQA4084 | Please answer the given financial question based on the context.
Context: 36 duke realty corporation annual report 2013 leasing/capital costs tenant improvements and lease-related costs pertaining to our initial leasing of newly completed space , or vacant space in acquired properties , are referred to as first generation expenditures . such first generation expenditures for tenant improvements are included within "development of real estate investments" in our consolidated statements of cash flows , while such expenditures for lease-related costs are included within "other deferred leasing costs." cash expenditures related to the construction of a building's shell , as well as the associated site improvements , are also included within "development of real estate investments" in our consolidated statements of cash flows . tenant improvements and leasing costs to re-let rental space that we previously leased to tenants are referred to as second generation expenditures . building improvements that are not specific to any tenant but serve to improve integral components of our real estate properties are also second generation expenditures . one of our principal uses of our liquidity is to fund the second generation leasing/capital expenditures of our real estate investments . the following table summarizes our second generation capital expenditures by type of expenditure ( in thousands ) : .
||2013|2012|2011|
|second generation tenant improvements|$ 39892|$ 26643|$ 50079|
|second generation leasing costs|38617|31059|38130|
|building improvements|13289|6182|11055|
|total second generation capital expenditures|$ 91798|$ 63884|$ 99264|
|development of real estate investments|$ 427355|$ 264755|$ 162070|
|other deferred leasing costs|$ 35376|$ 27772|$ 26311|
second generation tenant improvements and leasing costs increased due to a shift in industrial leasing volume from renewal leases to second generation leases ( see data in the key performance indicators section of management's discussion and analysis of financial condition and results of operations ) , which are generally more capital intensive . additionally , although the overall renewal volume was lower , renewals for office leases , which are generally more capital intensive than industrial leases , increased from 2012 . during 2013 , we increased our investment across all product types in non-tenant specific building improvements . the increase in capital expenditures for the development of real estate investments was the result of our increased focus on wholly owned development projects . we had wholly owned properties under development with an expected cost of $ 572.6 million at december 31 , 2013 , compared to projects with an expected cost of $ 468.8 million and $ 124.2 million at december 31 , 2012 and 2011 , respectively . cash outflows for real estate development investments were $ 427.4 million , $ 264.8 million and $ 162.1 million for december 31 , 2013 , 2012 and 2011 , respectively . we capitalized $ 31.3 million , $ 30.4 million and $ 25.3 million of overhead costs related to leasing activities , including both first and second generation leases , during the years ended december 31 , 2013 , 2012 and 2011 , respectively . we capitalized $ 27.1 million , $ 20.0 million and $ 10.4 million of overhead costs related to development activities , including construction , development and tenant improvement projects on first and second generation space , during the years ended december 31 , 2013 , 2012 and 2011 , respectively . combined overhead costs capitalized to leasing and development totaled 35.7% ( 35.7 % ) , 31.1% ( 31.1 % ) and 20.6% ( 20.6 % ) of our overall pool of overhead costs at december 31 , 2013 , 2012 and 2011 , respectively . further discussion of the capitalization of overhead costs can be found herein , in the discussion of general and administrative expenses in the comparison sections of management's discussion and analysis of financial condition and results of operations. .
Question: what was the average cash outflows for real estate development investments from 2011 to 2013
Answer: | 428.65 |
FINQA4085 | Please answer the given financial question based on the context.
Context: jpmorgan chase & co . / 2008 annual report 175jpmorgan chase & co . / 2008 annual report 175jpmorgan chase & co . / 2008 annual report 175jpmorgan chase & co . / 2008 annual report 175jpmorgan chase & co . / 2008 annual report 175 securities borrowed and securities lent are recorded at the amount of cash collateral advanced or received . securities borrowed consist primarily of government and equity securities . jpmorgan chase moni- tors the market value of the securities borrowed and lent on a daily basis and calls for additional collateral when appropriate . fees received or paid in connection with securities borrowed and lent are recorded in interest income or interest expense . the following table details the components of collateralized financings. .
|december 31 ( in millions )|2008|2007|
|securities purchased under resale agreements ( a )|$ 200265|$ 169305|
|securities borrowed ( b )|124000|84184|
|securities sold under repurchase agreements ( c )|$ 174456|$ 126098|
|securities loaned|6077|10922|
( a ) includes resale agreements of $ 20.8 billion and $ 19.1 billion accounted for at fair value at december 31 , 2008 and 2007 , respectively . ( b ) includes securities borrowed of $ 3.4 billion accounted for at fair value at december 31 , 2008 . ( c ) includes repurchase agreements of $ 3.0 billion and $ 5.8 billion accounted for at fair value at december 31 , 2008 and 2007 , respectively . jpmorgan chase pledges certain financial instruments it owns to col- lateralize repurchase agreements and other securities financings . pledged securities that can be sold or repledged by the secured party are identified as financial instruments owned ( pledged to various parties ) on the consolidated balance sheets . at december 31 , 2008 , the firm received securities as collateral that could be repledged , delivered or otherwise used with a fair value of approximately $ 511.9 billion . this collateral was generally obtained under resale or securities borrowing agreements . of these securities , approximately $ 456.6 billion were repledged , delivered or otherwise used , generally as collateral under repurchase agreements , securities lending agreements or to cover short sales . note 14 2013 loans the accounting for a loan may differ based upon whether it is origi- nated or purchased and as to whether the loan is used in an invest- ing or trading strategy . for purchased loans held-for-investment , the accounting also differs depending on whether a loan is credit- impaired at the date of acquisition . purchased loans with evidence of credit deterioration since the origination date and for which it is probable , at acquisition , that all contractually required payments receivable will not be collected are considered to be credit-impaired . the measurement framework for loans in the consolidated financial statements is one of the following : 2022 at the principal amount outstanding , net of the allowance for loan losses , unearned income and any net deferred loan fees or costs , for loans held for investment ( other than purchased credit- impaired loans ) ; 2022 at the lower of cost or fair value , with valuation changes record- ed in noninterest revenue , for loans that are classified as held- for-sale ; or 2022 at fair value , with changes in fair value recorded in noninterest revenue , for loans classified as trading assets or risk managed on a fair value basis ; 2022 purchased credit-impaired loans held for investment are account- ed for under sop 03-3 and initially measured at fair value , which includes estimated future credit losses . accordingly , an allowance for loan losses related to these loans is not recorded at the acquisition date . see note 5 on pages 156 2013158 of this annual report for further information on the firm 2019s elections of fair value accounting under sfas 159 . see note 6 on pages 158 2013160 of this annual report for further information on loans carried at fair value and classified as trading assets . for loans held for investment , other than purchased credit-impaired loans , interest income is recognized using the interest method or on a basis approximating a level rate of return over the term of the loan . loans within the held-for-investment portfolio that management decides to sell are transferred to the held-for-sale portfolio . transfers to held-for-sale are recorded at the lower of cost or fair value on the date of transfer . credit-related losses are charged off to the allowance for loan losses and losses due to changes in interest rates , or exchange rates , are recognized in noninterest revenue . loans within the held-for-sale portfolio that management decides to retain are transferred to the held-for-investment portfolio at the lower of cost or fair value . these loans are subsequently assessed for impairment based on the firm 2019s allowance methodology . for a fur- ther discussion of the methodologies used in establishing the firm 2019s allowance for loan losses , see note 15 on pages 178 2013180 of this annual report . nonaccrual loans are those on which the accrual of interest is dis- continued . loans ( other than certain consumer and purchased credit- impaired loans discussed below ) are placed on nonaccrual status immediately if , in the opinion of management , full payment of princi- pal or interest is in doubt , or when principal or interest is 90 days or more past due and collateral , if any , is insufficient to cover principal and interest . loans are charged off to the allowance for loan losses when it is highly certain that a loss has been realized . interest accrued but not collected at the date a loan is placed on nonaccrual status is reversed against interest income . in addition , the amortiza- tion of net deferred loan fees is suspended . interest income on nonaccrual loans is recognized only to the extent it is received in cash . however , where there is doubt regarding the ultimate col- lectibility of loan principal , all cash thereafter received is applied to reduce the carrying value of such loans ( i.e. , the cost recovery method ) . loans are restored to accrual status only when future pay- ments of interest and principal are reasonably assured . consumer loans , other than purchased credit-impaired loans , are generally charged to the allowance for loan losses upon reaching specified stages of delinquency , in accordance with the federal financial institutions examination council policy . for example , credit card loans are charged off by the end of the month in which the account becomes 180 days past due or within 60 days from receiv- ing notification of the filing of bankruptcy , whichever is earlier . residential mortgage products are generally charged off to net real- izable value at no later than 180 days past due . other consumer .
Question: what was the ratio of the securities purchased under resale agreements to the of the resale agreements accounted for at fair value
Answer: | 9628.125 |
FINQA4086 | Please answer the given financial question based on the context.
Context: adobe systems incorporated notes to consolidated financial statements ( continued ) in the first quarter of fiscal 2013 , the executive compensation committee certified the actual performance achievement of participants in the 2012 performance share program ( the 201c2012 program 201d ) . based upon the achievement of specific and/or market- based performance goals outlined in the 2012 program , participants had the ability to receive up to 150% ( 150 % ) of the target number of shares originally granted . actual performance resulted in participants achieving 116% ( 116 % ) of target or approximately 1.3 million shares for the 2012 program . one third of the shares under the 2012 program vested in the first quarter of fiscal 2013 and the remaining two thirds vest evenly on the following two anniversaries of the grant , contingent upon the recipient's continued service to adobe . in the first quarter of fiscal 2012 , the executive compensation committee certified the actual performance achievement of participants in the 2011 performance share program ( the 201c2011 program 201d ) . based upon the achievement of goals outlined in the 2011 program , participants had the ability to receive up to 150% ( 150 % ) of the target number of shares originally granted . actual performance resulted in participants achieving 130% ( 130 % ) of target or approximately 0.5 million shares for the 2011 program . one third of the shares under the 2011 program vested in the first quarter of fiscal 2012 and the remaining two thirds vest evenly on the following two annual anniversary dates of the grant , contingent upon the recipient's continued service to adobe . in the first quarter of fiscal 2011 , the executive compensation committee certified the actual performance achievement of participants in the 2010 performance share program ( the 201c2010 program 201d ) . based upon the achievement of goals outlined in the 2010 program , participants had the ability to receive up to 150% ( 150 % ) of the target number of shares originally granted . actual performance resulted in participants achieving 135% ( 135 % ) of target or approximately 0.3 million shares for the 2010 program . one third of the shares under the 2011 program vested in the first quarter of fiscal 2012 and the remaining two thirds vest evenly on the following two annual anniversary dates of the grant , contingent upon the recipient's continued service to adobe . the following table sets forth the summary of performance share activity under our 2010 , 2011 and 2012 programs , based upon share awards actually achieved , for the fiscal years ended november 29 , 2013 , november 30 , 2012 and december 2 , 2011 ( in thousands ) : .
||2013|2012|2011|
|beginning outstanding balance|388|405|557|
|achieved|1279|492|337|
|released|-665 ( 665 )|-464 ( 464 )|-436 ( 436 )|
|forfeited|-141 ( 141 )|-45 ( 45 )|-53 ( 53 )|
|ending outstanding balance|861|388|405|
the total fair value of performance awards vested during fiscal 2013 , 2012 and 2011 was $ 25.4 million , $ 14.4 million and $ 14.8 million , respectively. .
Question: what is the net increase in the balance of outstanding shares during 2012?
Answer: | -17.0 |
FINQA4087 | Please answer the given financial question based on the context.
Context: allowance for doubtful accounts is as follows: .
||2010|2009|2008|
|balance at beginning of year|$ 160|$ 133|$ 86|
|provision|38|54|65|
|amounts written off|-13 ( 13 )|-27 ( 27 )|-18 ( 18 )|
|balance at end of year|$ 185|$ 160|$ 133|
discontinued operations during the fourth quarter of 2009 , schlumberger recorded a net $ 22 million charge related to the resolution of a customs assessment pertaining to its former offshore contract drilling business , as well as the resolution of certain contingencies associated with other previously disposed of businesses . this amount is included in income ( loss ) from discontinued operations in the consolidated statement of income . during the first quarter of 2008 , schlumberger recorded a gain of $ 38 million related to the resolution of a contingency associated with a previously disposed of business . this gain is included in income ( loss ) from discon- tinued operations in the consolidated statement of income . part ii , item 8 .
Question: in 2010 , what was the provision for doubtful accounts as a percentage of total allowance for doubtful accounts?
Answer: | 0.2375 |
FINQA4088 | Please answer the given financial question based on the context.
Context: the following table summarizes the changes in the total amounts of unrealized tax benefits for fiscal 2009 through fiscal 2011. .
|balance november 1 2008|$ 13750|
|additions for tax positions of 2009|4411|
|balance october 31 2009|18161|
|additions for tax positions of 2010|286|
|balance october 30 2010|$ 18447|
|additions for tax positions related to prior years|9265|
|reductions for tax positions related to prior years|-17677 ( 17677 )|
|settlements with taxing authorities|-370 ( 370 )|
|balance october 29 2011|$ 9665|
fiscal years 2004 and 2005 irs examination during the fourth quarter of fiscal 2007 , the internal revenue service ( irs ) completed its field examination of the company 2019s fiscal years 2004 and 2005 . on january 2 , 2008 , the irs issued its report for fiscal 2004 and 2005 , which included four proposed adjustments related to these two fiscal years that the company protested to the irs appeals office . two of the unresolved matters were one-time issues that pertain to section 965 of the internal revenue code related to the beneficial tax treatment of dividends paid from foreign owned companies under the american jobs creation act . the other matters pertained to the computation of the research and development ( r&d ) tax credit and certain profits earned from manufacturing activities carried on outside the united states . the company recorded a tax liability for a portion of the proposed r&d tax credit adjustment . these four items had an additional potential tax liability of $ 46 million . the company concluded , based on discussions with its tax advisors , that these items were not likely to result in any additional tax liability . therefore , the company did not record a tax liability for these items . during the second quarter of fiscal 2011 , the company reached settlement with the irs appeals office on three of the four items under protest . the remaining unresolved matter is a one-time issue pertaining to section 965 of the internal revenue code related to the beneficial tax treatment of dividends from foreign owned companies under the american jobs creation act . the company will file a petition with the tax court with respect to this open matter . the potential liability for this adjustment is $ 36.5 million . the company has concluded , based on discussions with its tax advisors , that this item is not likely to result in any additional tax liability . therefore , the company has not recorded any additional tax liability for this issue . fiscal years 2006 and 2007 irs examination during the third quarter of fiscal 2009 , the irs completed its field examination of the company 2019s fiscal years 2006 and 2007 . the irs and the company agreed on the treatment of a number of issues that have been included in an issue resolutions agreement related to the 2006 and 2007 tax returns . however , no agreement was reached on the tax treatment of a number of issues for the fiscal 2006 and fiscal 2007 years , including the same r&d tax credit and foreign manufacturing issues mentioned above related to fiscal 2004 and 2005 , the pricing of intercompany sales ( transfer pricing ) and the deductibility of certain stock option compensation expenses . the company recorded taxes related to a portion of the proposed r&d tax credit adjustment . these four items had an additional potential total tax liability of $ 195 million . the company concluded , based on discussions with its tax advisors that these items were not likely to result in any additional tax liability . therefore , the company did not record any additional tax liability for these items and appealed these proposed adjustments through the normal processes for the resolution of differences between the irs and taxpayers . during the second quarter of fiscal 2011 , the company reached an agreement with the irs appeals office on three of the four protested items , two of which were the same issues settled relating to the 2004 and 2005 fiscal years . transfer pricing remained as the only item under protest with the irs appeals office related to the fiscal analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what is the net change in unrealized tax benefits during 2010?
Answer: | -8782.0 |
FINQA4089 | Please answer the given financial question based on the context.
Context: we are exposed to market risk stemming from changes in interest and foreign exchange rates and commod- ity and equity prices . changes in these factors could cause fl uctuations in our earnings and cash fl ows . in the normal course of business , we actively manage our exposure to these market risks by entering into vari- ous hedging transactions , authorized under established policies that place clear controls on these activities . th e counterparties in these transactions are generally highly rated institutions . we establish credit limits for each counterparty . our hedging transactions include but are not limited to a variety of derivative fi nancial instruments . for information on interest rate , foreign exchange , commodity price , and equity instrument risk , please see note 7 to the consolidated financial statements on page 61 of this report . value at risk th e estimates in the table below are intended to mea- sure the maximum potential fair value we could lose in one day from adverse changes in market interest rates , foreign exchange rates , commodity prices , and equity prices under normal market conditions . a monte carlo value-at-risk ( var ) methodology was used to quantify the market risk for our exposures . th e models assumed normal market conditions and used a 95 percent confi - dence level . th e var calculation used historical interest and for- eign exchange rates , and commodity and equity prices from the past year to estimate the potential volatility and correlation of these rates in the future . th e market data were drawn from the riskmetrics 2122 data set . th e calculations are not intended to represent actual losses in fair value that we expect to incur . further , since the hedging instrument ( the derivative ) inversely cor- relates with the underlying exposure , we would expect that any loss or gain in the fair value of our derivatives would be generally off set by an increase or decrease in the fair value of the underlying exposure . th e positions included in the calculations were : debt ; investments ; interest rate swaps ; foreign exchange forwards ; com- modity swaps , futures and options ; and equity instru- ments . th e calculations do not include the underlying foreign exchange and commodities or equity-related positions that are off set by these market-risk-sensitive instruments . th e table below presents the estimated maximum potential var arising from a one-day loss in fair value for our interest rate , foreign currency , commodity , and equity market-risk-sensitive instruments outstanding as of may 28 , 2017 , and may 29 , 2016 , and the average fair value impact during the year ended may 28 , 2017. .
|in millions|fair value impact may 28 2017|fair value impact averageduringfiscal 2017|fair value impact may 29 2016|
|interest rate instruments|$ 25.1|$ 26.5|$ 33.3|
|foreign currency instruments|24.6|22.9|27.6|
|commodity instruments|3.2|2.5|3.3|
|equity instruments|1.3|1.4|1.7|
quantitative and qualitative disclosures about market risk 44 general mills .
Question: what is the total average fair value impact of all the instruments?
Answer: | 53.3 |
FINQA4090 | Please answer the given financial question based on the context.
Context: vertex pharmaceuticals incorporated notes to consolidated financial statements ( continued ) k . commitments ( continued ) at december 31 , 2006 , future minimum commitments under facility operating leases with non-cancelable terms of more than one year ( including commitments under the kendall square lease ) are as follows ( in thousands ) : rental expense for 2006 was $ 26.7 million , which included $ 9.5 million related to the kendall square facility . rental expense for 2005 was $ 20.4 million , which included $ 4.7 million related to the space in the kendall square facility that the company occupied in 2006 in the kendall square facility . for 2004 , rental expense primarily related to facilities , excluding the kendall square facility , was $ 16.3 million . the company has future contractual commitments in connection with its research and development programs . for 2007 and 2008 the amount committed under these contracts is $ 1.1 million and $ 0.6 million , respectively . l . convertible subordinated notes on february 13 , 2004 , the company issued approximately $ 153.1 million in aggregate principal amount of 5.75% ( 5.75 % ) convertible senior subordinated notes due in february 2011 ( the 201cfebruary 2011 notes 201d ) in exchange for an equal principal amount of its outstanding 5% ( 5 % ) convertible subordinated notes due in september 2007 ( the 201c2007 notes 201d ) . on september 17 , 2004 , the company issued approximately $ 79.3 million in aggregate principal amount of 5.75% ( 5.75 % ) convertible senior subordinated notes due in february 2011 ( the 201cseptember 2011 notes 201d ) in exchange for an equal principal amount of its 2007 notes . the terms of the september 2011 notes are identical to those of the february 2011 notes ( the february 2011 notes and the september 2011 notes are referred to together as the 201c2011 notes 201d ) . the 2011 notes are convertible , at the option of the holder , into common stock at a price equal to $ 14.94 per share , subject to adjustment under certain circumstances . the 2011 notes bear interest at the rate of 5.75% ( 5.75 % ) per annum , and the company is required to make semi-annual interest payments on the outstanding principal balance of the 2011 notes on february 15 and august 15 of each year . on or after february 15 , 2007 , the company may redeem the 2011 notes at a redemption price equal to the principal amount plus accrued and unpaid interest , if any . the deferred issuance costs associated with the issuance of the 2011 notes , which are classified as long-term other assets , were approximately $ 3.0 million for the february 2011 notes and $ 1.9 million for the september 2011 notes . the 2007 notes are convertible , at the option of the holder , into common stock at a price equal to $ 92.26 per share , subject to adjustment under certain circumstances . the 2007 notes bear interest at the rate of 5% ( 5 % ) per annum , and the company is required to make semi-annual interest payments on the outstanding principal balance of the 2007 notes on march 19 and september 19 of each year . the 2007 notes are redeemable by the company at any time at specific redemption prices if the closing price of the kendall square sublease income for kendall square facility other operating leases total operating leases $ 22718 $ ( 8156 ) $ 17290 $ 31852 23621 ( 8156 ) 16638 32103 23683 ( 8156 ) 12345 27872 23748 ( 8156 ) 11307 26899 23816 ( 4466 ) 684 20034 thereafter 171237 ( 1747 ) 246 169736 total minimum lease payments $ 288823 $ ( 38837 ) $ 58510 $ 308496 .
|year|kendall square lease|sublease income for kendall square facility|other operating leases|total operating leases|
|2007|$ 22718|$ -8156 ( 8156 )|$ 17290|$ 31852|
|2008|23621|-8156 ( 8156 )|16638|32103|
|2009|23683|-8156 ( 8156 )|12345|27872|
|2010|23748|-8156 ( 8156 )|11307|26899|
|2011|23816|-4466 ( 4466 )|684|20034|
|thereafter|171237|-1747 ( 1747 )|246|169736|
|total minimum lease payments|$ 288823|$ -38837 ( 38837 )|$ 58510|$ 308496|
vertex pharmaceuticals incorporated notes to consolidated financial statements ( continued ) k . commitments ( continued ) at december 31 , 2006 , future minimum commitments under facility operating leases with non-cancelable terms of more than one year ( including commitments under the kendall square lease ) are as follows ( in thousands ) : rental expense for 2006 was $ 26.7 million , which included $ 9.5 million related to the kendall square facility . rental expense for 2005 was $ 20.4 million , which included $ 4.7 million related to the space in the kendall square facility that the company occupied in 2006 in the kendall square facility . for 2004 , rental expense primarily related to facilities , excluding the kendall square facility , was $ 16.3 million . the company has future contractual commitments in connection with its research and development programs . for 2007 and 2008 the amount committed under these contracts is $ 1.1 million and $ 0.6 million , respectively . l . convertible subordinated notes on february 13 , 2004 , the company issued approximately $ 153.1 million in aggregate principal amount of 5.75% ( 5.75 % ) convertible senior subordinated notes due in february 2011 ( the 201cfebruary 2011 notes 201d ) in exchange for an equal principal amount of its outstanding 5% ( 5 % ) convertible subordinated notes due in september 2007 ( the 201c2007 notes 201d ) . on september 17 , 2004 , the company issued approximately $ 79.3 million in aggregate principal amount of 5.75% ( 5.75 % ) convertible senior subordinated notes due in february 2011 ( the 201cseptember 2011 notes 201d ) in exchange for an equal principal amount of its 2007 notes . the terms of the september 2011 notes are identical to those of the february 2011 notes ( the february 2011 notes and the september 2011 notes are referred to together as the 201c2011 notes 201d ) . the 2011 notes are convertible , at the option of the holder , into common stock at a price equal to $ 14.94 per share , subject to adjustment under certain circumstances . the 2011 notes bear interest at the rate of 5.75% ( 5.75 % ) per annum , and the company is required to make semi-annual interest payments on the outstanding principal balance of the 2011 notes on february 15 and august 15 of each year . on or after february 15 , 2007 , the company may redeem the 2011 notes at a redemption price equal to the principal amount plus accrued and unpaid interest , if any . the deferred issuance costs associated with the issuance of the 2011 notes , which are classified as long-term other assets , were approximately $ 3.0 million for the february 2011 notes and $ 1.9 million for the september 2011 notes . the 2007 notes are convertible , at the option of the holder , into common stock at a price equal to $ 92.26 per share , subject to adjustment under certain circumstances . the 2007 notes bear interest at the rate of 5% ( 5 % ) per annum , and the company is required to make semi-annual interest payments on the outstanding principal balance of the 2007 notes on march 19 and september 19 of each year . the 2007 notes are redeemable by the company at any time at specific redemption prices if the closing price of the kendall square sublease income for kendall square facility other operating leases total operating leases $ 22718 $ ( 8156 ) $ 17290 $ 31852 23621 ( 8156 ) 16638 32103 23683 ( 8156 ) 12345 27872 23748 ( 8156 ) 11307 26899 23816 ( 4466 ) 684 20034 thereafter 171237 ( 1747 ) 246 169736 total minimum lease payments $ 288823 $ ( 38837 ) $ 58510 $ 308496 .
Question: what percent of the total operating leases in 2007 are not related to the kendall square lease?
Answer: | 0.54282 |
FINQA4091 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis net revenues in equities were $ 6.60 billion , 4% ( 4 % ) lower than 2016 , primarily due to lower commissions and fees , reflecting a decline in our listed cash equity volumes in the u.s . market volumes in the u.s . also declined . in addition , net revenues in equities client execution were lower , reflecting lower net revenues in derivatives , partially offset by higher net revenues in cash products . net revenues in securities services were essentially unchanged . operating expenses were $ 9.69 billion for 2017 , essentially unchanged compared with 2016 , due to decreased compensation and benefits expenses , reflecting lower net revenues , largely offset by increased technology expenses , reflecting higher expenses related to cloud-based services and software depreciation , and increased consulting costs . pre-tax earnings were $ 2.21 billion in 2017 , 54% ( 54 % ) lower than 2016 . investing & lending investing & lending includes our investing activities and the origination of loans , including our relationship lending activities , to provide financing to clients . these investments and loans are typically longer-term in nature . we make investments , some of which are consolidated , including through our merchant banking business and our special situations group , in debt securities and loans , public and private equity securities , infrastructure and real estate entities . some of these investments are made indirectly through funds that we manage . we also make unsecured loans through our digital platform , marcus : by goldman sachs and secured loans through our digital platform , goldman sachs private bank select . the table below presents the operating results of our investing & lending segment. .
|$ in millions|year ended december 2018|year ended december 2017|year ended december 2016|
|equity securities|$ 4455|$ 4578|$ 2573|
|debt securities and loans|3795|2660|1689|
|total net revenues|8250|7238|4262|
|provision for credit losses|674|657|182|
|operating expenses|3365|2796|2386|
|pre-taxearnings|$ 4211|$ 3785|$ 1694|
operating environment . during 2018 , our investments in private equities benefited from company-specific events , including sales , and strong corporate performance , while investments in public equities reflected losses , as global equity prices generally decreased . results for our investments in debt securities and loans reflected continued growth in loans receivables , resulting in higher net interest income . if macroeconomic concerns negatively affect corporate performance or the origination of loans , or if global equity prices continue to decline , net revenues in investing & lending would likely be negatively impacted . during 2017 , generally higher global equity prices and tighter credit spreads contributed to a favorable environment for our equity and debt investments . results also reflected net gains from company-specific events , including sales , and corporate performance . 2018 versus 2017 . net revenues in investing & lending were $ 8.25 billion for 2018 , 14% ( 14 % ) higher than 2017 . net revenues in equity securities were $ 4.46 billion , 3% ( 3 % ) lower than 2017 , reflecting net losses from investments in public equities ( 2018 included $ 183 million of net losses ) compared with net gains in the prior year , partially offset by significantly higher net gains from investments in private equities ( 2018 included $ 4.64 billion of net gains ) , driven by company-specific events , including sales , and corporate performance . for 2018 , 60% ( 60 % ) of the net revenues in equity securities were generated from corporate investments and 40% ( 40 % ) were generated from real estate . net revenues in debt securities and loans were $ 3.80 billion , 43% ( 43 % ) higher than 2017 , primarily driven by significantly higher net interest income . 2018 included net interest income of approximately $ 2.70 billion compared with approximately $ 1.80 billion in 2017 . provision for credit losses was $ 674 million for 2018 , compared with $ 657 million for 2017 , as the higher provision for credit losses primarily related to consumer loan growth in 2018 was partially offset by an impairment of approximately $ 130 million on a secured loan in 2017 . operating expenses were $ 3.37 billion for 2018 , 20% ( 20 % ) higher than 2017 , primarily due to increased expenses related to consolidated investments and our digital lending and deposit platform , and increased compensation and benefits expenses , reflecting higher net revenues . pre-tax earnings were $ 4.21 billion in 2018 , 11% ( 11 % ) higher than 2017 versus 2016 . net revenues in investing & lending were $ 7.24 billion for 2017 , 70% ( 70 % ) higher than 2016 . net revenues in equity securities were $ 4.58 billion , 78% ( 78 % ) higher than 2016 , primarily reflecting a significant increase in net gains from private equities ( 2017 included $ 3.82 billion of net gains ) , which were positively impacted by company-specific events and corporate performance . in addition , net gains from public equities ( 2017 included $ 762 million of net gains ) were significantly higher , as global equity prices increased during the year . for 2017 , 64% ( 64 % ) of the net revenues in equity securities were generated from corporate investments and 36% ( 36 % ) were generated from real estate . net revenues in debt securities and loans were $ 2.66 billion , 57% ( 57 % ) higher than 2016 , reflecting significantly higher net interest income ( 2017 included approximately $ 1.80 billion of net interest income ) . 60 goldman sachs 2018 form 10-k .
Question: what is the growth rate in pre-tax earnings in 2018?
Answer: | 0.11255 |
FINQA4092 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements in march 2008 , the fasb issued guidance which requires entities to provide greater transparency about ( a ) how and why an entity uses derivative instruments , ( b ) how derivative instruments and related hedged items are accounted , and ( c ) how derivative instruments and related hedged items affect an entity 2019s financial position , results of operations , and cash flows . this guidance was effective on january 1 , 2009 . the adoption of this guidance did not have a material impact on our consolidated financial statements . in june 2009 , the fasb issued guidance on accounting for transfers of financial assets . this guidance amends various components of the existing guidance governing sale accounting , including the recog- nition of assets obtained and liabilities assumed as a result of a transfer , and considerations of effective control by a transferor over transferred assets . in addition , this guidance removes the exemption for qualifying special purpose entities from the consolidation guidance . this guidance is effective january 1 , 2010 , with early adoption prohibited . while the amended guidance governing sale accounting is applied on a prospec- tive basis , the removal of the qualifying special purpose entity exception will require us to evaluate certain entities for consolidation . while we are evaluating the effect of adoption of this guidance , we currently believe that its adoption will not have a material impact on our consolidated financial statement . in june 2009 , the fasb amended the guidance for determin- ing whether an entity is a variable interest entity , or vie , and requires the performance of a qualitative rather than a quantitative analysis to determine the primary beneficiary of a vie . under this guidance , an entity would be required to consolidate a vie if it has ( i ) the power to direct the activities that most significantly impact the entity 2019s economic performance and ( ii ) the obligation to absorb losses of the vie or the right to receive benefits from the vie that could be significant to the vie . this guidance is effective for the first annual reporting period that begins after november 15 , 2009 , with early adoption prohibited . while we are currently evaluating the effect of adoption of this guidance , we currently believe that its adoption will not have a material impact on our consoli- dated financial statements . note 3 / property acquisitions 2009 acquisitions during 2009 , we acquired the sub-leasehold positions at 420 lexington avenue for an aggregate purchase price of approximately $ 15.9 million . 2008 acquisitions in february 2008 , we , through our joint venture with jeff sutton , acquired the properties located at 182 broadway and 63 nassau street for approximately $ 30.0 million in the aggregate . these properties are located adjacent to 180 broadway which we acquired in august 2007 . as part of the acquisition we also closed on a $ 31.0 million loan which bears interest at 225 basis points over the 30-day libor . the loan has a three-year term and two one-year extensions . we drew down $ 21.1 mil- lion at the closing to pay the balance of the acquisition costs . during the second quarter of 2008 , we , through a joint ven- ture with nysters , acquired various interests in the fee positions at 919 third avenue for approximately $ 32.8 million . as a result , our joint venture controls the entire fee position . 2007 acquisitions in january 2007 , we acquired reckson for approximately $ 6.0 billion , inclusive of transaction costs . simultaneously , we sold approximately $ 2.0 billion of the reckson assets to an asset purchasing venture led by certain of reckson 2019s former executive management . the transaction included the acquisition of 30 properties encompassing approximately 9.2 million square feet , of which five properties encompassing approxi- mately 4.2 million square feet are located in manhattan . the following summarizes our allocation of the purchase price to the assets and liabilities acquired from reckson ( in thousands ) : .
|land|$ 766727|
|building|3724962|
|investment in joint venture|65500|
|structured finance investments|136646|
|acquired above-market leases|24661|
|other assets net of other liabilities|30473|
|acquired in-place leases|175686|
|assets acquired|4924655|
|acquired below-market leases|422177|
|minority interest|401108|
|liabilities acquired|823285|
|net assets acquired|$ 4101370|
.
Question: for the reckson deal , was was the average cost per square foot for the properties acquired?
Answer: | 978.26087 |
FINQA4093 | Please answer the given financial question based on the context.
Context: average securities purchased under resale agreements increased to $ 4.69 billion for the year ended december 31 , 2011 from $ 2.96 billion for the year ended december 31 , 2010 . average trading account assets increased to $ 2.01 billion for the year ended december 31 , 2011 from $ 376 million for 2010 . averages benefited largely from an increase in client demand associated with our trading activities . in connection with these activities , we traded in highly liquid fixed-income securities as principal with our custody clients and other third- parties that trade in these securities . our average investment securities portfolio increased to $ 103.08 billion for the year ended december 31 , 2011 from $ 96.12 billion for 2010 . the increase was generally the result of ongoing purchases of securities , partly offset by maturities and sales . in december 2010 , we repositioned our portfolio by selling approximately $ 11 billion of mortgage- and asset-backed securities and re-investing approximately $ 7 billion of the proceeds , primarily in agency mortgage-backed securities . the repositioning was undertaken to enhance our regulatory capital ratios under evolving regulatory capital standards , increase our balance sheet flexibility in deploying our capital , and reduce our exposure to certain asset classes . during 2011 , we purchased $ 54 billion of highly rated u.s . treasury securities , federal agency mortgage-backed securities and u.s . and non-u.s . asset-backed securities . as of december 31 , 2011 , securities rated 201caaa 201d and 201caa 201d comprised approximately 89% ( 89 % ) of our portfolio , compared to 90% ( 90 % ) rated 201caaa 201d and 201caa 201d as of december 31 , 2010 . loans and leases averaged $ 12.18 billion for the year ended december 31 , 2011 , compared to $ 12.09 billion for 2010 . the increases primarily resulted from higher client demand for short-duration liquidity , offset in part by a decrease in leases and the purchased receivables added in connection with the conduit consolidation , mainly from maturities and pay-downs . for 2011 and 2010 , approximately 29% ( 29 % ) and 27% ( 27 % ) , respectively , of our average loan and lease portfolio was composed of short-duration advances that provided liquidity to clients in support of their investment activities related to securities settlement . the following table presents average u.s . and non-u.s . short-duration advances for the years indicated: .
|( in millions )|years ended december 31 , 2011|years ended december 31 , 2010|years ended december 31 , 2009|
|average u.s . short-duration advances|$ 1994|$ 1924|$ 2213|
|average non-u.s . short-duration advances|1585|1366|761|
|total average short-duration advances|$ 3579|$ 3290|$ 2974|
for the year ended december 31 , 2011 , the increase in average non-u.s . short-duration advances compared to the prior-year period was mainly due to activity associated with clients added in connection with the acquired intesa securities services business . average other interest-earning assets increased to $ 5.46 billion for the year ended december 31 , 2011 from $ 1.16 billion for 2010 . the increase was primarily the result of higher levels of cash collateral provided in connection with our role as principal in certain securities borrowing activities . average interest-bearing deposits increased to $ 88.06 billion for the year ended december 31 , 2011 from $ 76.96 billion for 2010 . the increase reflected client deposits added in connection with the may 2010 acquisition of the intesa securities services business , and higher levels of non-u.s . transaction accounts associated with new and existing business in assets under custody and administration . average other short-term borrowings declined to $ 5.13 billion for the year ended december 31 , 2011 from $ 13.59 billion for 2010 , as the higher levels of client deposits provided additional liquidity . average long-term debt increased to $ 8.97 billion for the year ended december 31 , 2011 from $ 8.68 billion for the same period in 2010 . the increase primarily reflected the issuance of an aggregate of $ 2 billion of senior notes by us in march 2011 , partly offset by the maturities of $ 1 billion of senior notes in february 2011 and $ 1.45 billion of senior notes in september 2011 , both previously issued by state street bank under the fdic 2019s temporary liquidity guarantee program . additional information about our long-term debt is provided in note 9 to the consolidated financial statements included under item 8. .
Question: what portion of the total short-term duration advances are u.s short-term advances?
Answer: | 0.55714 |
FINQA4094 | Please answer the given financial question based on the context.
Context: the redemptions resulted in an early extinguishment charge of $ 5 million . on march 22 , 2010 , we redeemed $ 175 million of our 6.5% ( 6.5 % ) notes due april 15 , 2012 . the redemption resulted in an early extinguishment charge of $ 16 million in the first quarter of 2010 . on november 1 , 2010 , we redeemed all $ 400 million of our outstanding 6.65% ( 6.65 % ) notes due january 15 , 2011 . the redemption resulted in a $ 5 million early extinguishment charge . receivables securitization facility 2013 as of december 31 , 2011 and 2010 , we have recorded $ 100 million as secured debt under our receivables securitization facility . ( see further discussion of our receivables securitization facility in note 10 ) . 15 . variable interest entities we have entered into various lease transactions in which the structure of the leases contain variable interest entities ( vies ) . these vies were created solely for the purpose of doing lease transactions ( principally involving railroad equipment and facilities , including our headquarters building ) and have no other activities , assets or liabilities outside of the lease transactions . within these lease arrangements , we have the right to purchase some or all of the assets at fixed prices . depending on market conditions , fixed-price purchase options available in the leases could potentially provide benefits to us ; however , these benefits are not expected to be significant . we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry . as such , we have no control over activities that could materially impact the fair value of the leased assets . we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies . additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase price options are not considered to be potentially significant to the vie 2019s . the future minimum lease payments associated with the vie leases totaled $ 3.9 billion as of december 31 , 2011 . 16 . leases we lease certain locomotives , freight cars , and other property . the consolidated statement of financial position as of december 31 , 2011 and 2010 included $ 2458 million , net of $ 915 million of accumulated depreciation , and $ 2520 million , net of $ 901 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2011 , were as follows : millions operating leases capital leases .
|millions|operatingleases|capitalleases|
|2012|$ 525|$ 297|
|2013|489|269|
|2014|415|276|
|2015|372|276|
|2016|347|262|
|later years|2380|1179|
|total minimum leasepayments|$ 4528|$ 2559|
|amount representing interest|n/a|-685 ( 685 )|
|present value of minimum leasepayments|n/a|$ 1874|
the majority of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 637 million in 2011 , $ 624 million in 2010 , and $ 686 million in 2009 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant. .
Question: did the annual interest savings on the redemption of the 6.5% ( 6.5 % ) notes exceed the cost of the early extinguishment?
Answer: | no |
FINQA4095 | Please answer the given financial question based on the context.
Context: united parcel service , inc . and subsidiaries notes to consolidated financial statements 2014 ( continued ) the following table summarizes the activity related to our unrecognized tax benefits ( in millions ) : .
|balance at january 1 2007|$ 373|
|additions for tax positions of the current year|13|
|additions for tax positions of prior years|34|
|reductions for tax positions of prior years for:||
|changes in judgment or facts|-12 ( 12 )|
|settlements during the period|-49 ( 49 )|
|lapses of applicable statute of limitations|-4 ( 4 )|
|balance at december 31 2007|$ 355|
as of december 31 , 2007 , the total amount of gross unrecognized tax benefits that , if recognized , would affect the effective tax rate was $ 134 million . we also had gross recognized tax benefits of $ 567 million recorded as of december 31 , 2007 associated with outstanding refund claims for prior tax years . therefore , we had a net receivable recorded with respect to prior year income tax matters in the accompanying balance sheets . our continuing practice is to recognize interest and penalties associated with income tax matters as a component of income tax expense . related to the uncertain tax benefits noted above , we accrued penalties of $ 5 million and interest of $ 36 million during 2007 . as of december 31 , 2007 , we have recognized a liability for penalties of $ 6 million and interest of $ 75 million . additionally , we have recognized a receivable for interest of $ 116 million for the recognized tax benefits associated with outstanding refund claims . we file income tax returns in the u.s . federal jurisdiction , most u.s . state and local jurisdictions , and many non-u.s . jurisdictions . as of december 31 , 2007 , we had substantially resolved all u.s . federal income tax matters for tax years prior to 1999 . in the third quarter of 2007 , we entered into a joint stipulation to dismiss the case with the department of justice , effectively withdrawing our refund claim related to the 1994 disposition of a subsidiary in france . the write-off of previously recognized tax receivable balances associated with the 1994 french matter resulted in a $ 37 million increase in income tax expense for the quarter . however , this increase was offset by the impact of favorable developments with various other u.s . federal , u.s . state , and non-u.s . contingency matters . in february 2008 , the irs completed its audit of the tax years 1999 through 2002 with only a limited number of issues that will be considered by the irs appeals office by 2009 . the irs is in the final stages of completing its audit of the tax years 2003 through 2004 . we anticipate that the irs will conclude its audit of the 2003 and 2004 tax years by 2009 . with few exceptions , we are no longer subject to u.s . state and local and non-u.s . income tax examinations by tax authorities for tax years prior to 1999 , but certain u.s . state and local matters are subject to ongoing litigation . a number of years may elapse before an uncertain tax position is audited and ultimately settled . it is difficult to predict the ultimate outcome or the timing of resolution for uncertain tax positions . it is reasonably possible that the amount of unrecognized tax benefits could significantly increase or decrease within the next twelve months . items that may cause changes to unrecognized tax benefits include the timing of interest deductions , the deductibility of acquisition costs , the consideration of filing requirements in various states , the allocation of income and expense between tax jurisdictions and the effects of terminating an election to have a foreign subsidiary join in filing a consolidated return . these changes could result from the settlement of ongoing litigation , the completion of ongoing examinations , the expiration of the statute of limitations , or other unforeseen circumstances . at this time , an estimate of the range of the reasonably possible change cannot be .
Question: what was the net change in the unrecognized tax benefit from january 1 , 2007 to december 31 , 2007 , in millions?
Answer: | -18.0 |
FINQA4096 | Please answer the given financial question based on the context.
Context: corporate & institutional banking corporate & institutional banking earned $ 1.9 billion in 2011 and $ 1.8 billion in 2010 . the increase in earnings was primarily due to an improvement in the provision for credit losses , which was a benefit in 2011 , partially offset by a reduction in the value of commercial mortgage servicing rights and lower net interest income . we continued to focus on adding new clients , increasing cross sales , and remaining committed to strong expense discipline . asset management group asset management group earned $ 141 million for 2011 compared with $ 137 million for 2010 . assets under administration were $ 210 billion at december 31 , 2011 and $ 212 billion at december 31 , 2010 . earnings for 2011 reflected a benefit from the provision for credit losses and growth in noninterest income , partially offset by higher noninterest expense and lower net interest income . for 2011 , the business delivered strong sales production , grew high value clients and benefitted from significant referrals from other pnc lines of business . over time and with stabilized market conditions , the successful execution of these strategies and the accumulation of our strong sales performance are expected to create meaningful growth in assets under management and noninterest income . residential mortgage banking residential mortgage banking earned $ 87 million in 2011 compared with $ 269 million in 2010 . the decline in earnings was driven by an increase in noninterest expense associated with increased costs for residential mortgage foreclosure- related expenses , primarily as a result of ongoing governmental matters , and lower net interest income , partially offset by an increase in loan originations and higher loans sales revenue . blackrock our blackrock business segment earned $ 361 million in 2011 and $ 351 million in 2010 . the higher business segment earnings from blackrock for 2011 compared with 2010 were primarily due to an increase in revenue . non-strategic assets portfolio this business segment ( formerly distressed assets portfolio ) consists primarily of acquired non-strategic assets that fall outside of our core business strategy . non-strategic assets portfolio had earnings of $ 200 million in 2011 compared with a loss of $ 57 million in 2010 . the increase was primarily attributable to a lower provision for credit losses partially offset by lower net interest income . 201cother 201d reported earnings of $ 376 million for 2011 compared with earnings of $ 386 million for 2010 . the decrease in earnings primarily reflected the noncash charge related to the redemption of trust preferred securities in the fourth quarter of 2011 and the gain related to the sale of a portion of pnc 2019s blackrock shares in 2010 partially offset by lower integration costs in 2011 . consolidated income statement review our consolidated income statement is presented in item 8 of this report . net income for 2011 was $ 3.1 billion compared with $ 3.4 billion for 2010 . results for 2011 include the impact of $ 324 million of residential mortgage foreclosure-related expenses primarily as a result of ongoing governmental matters , a $ 198 million noncash charge related to redemption of trust preferred securities and $ 42 million for integration costs . results for 2010 included the $ 328 million after-tax gain on our sale of gis , $ 387 million for integration costs , and $ 71 million of residential mortgage foreclosure-related expenses . for 2010 , net income attributable to common shareholders was also impacted by a noncash reduction of $ 250 million in connection with the redemption of tarp preferred stock . pnc 2019s results for 2011 were driven by good performance in a challenging environment of low interest rates , slow economic growth and new regulations . net interest income and net interest margin year ended december 31 dollars in millions 2011 2010 .
|year ended december 31dollars in millions|2011|2010|
|net interest income|$ 8700|$ 9230|
|net interest margin|3.92% ( 3.92 % )|4.14% ( 4.14 % )|
changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding . see the statistical information ( unaudited ) 2013 analysis of year-to-year changes in net interest income and average consolidated balance sheet and net interest analysis in item 8 and the discussion of purchase accounting accretion in the consolidated balance sheet review in item 7 of this report for additional information . the decreases in net interest income and net interest margin for 2011 compared with 2010 were primarily attributable to a decrease in purchase accounting accretion on purchased impaired loans primarily due to lower excess cash recoveries . a decline in average loan balances and the low interest rate environment , partially offset by lower funding costs , also contributed to the decrease . the pnc financial services group , inc . 2013 form 10-k 35 .
Question: for 2010 was the noncash expense in connection with the redemption of tarp preferred stock less than total net interest income?
Answer: | no |
FINQA4097 | Please answer the given financial question based on the context.
Context: visa inc . notes to consolidated financial statements 2014 ( continued ) september 30 , 2008 ( in millions , except as noted ) secured notes series b-1995 lease agreement in september 1995 , a real estate partnership owned jointly by visa u.s.a . and visa international issued notes that are secured by certain office properties and facilities in california which are used by the company through a lease financing of net-leased office space ( 201c1995 lease agreement 201d ) . series b of these notes , totaling $ 27 million , were issued with an interest rate of 7.83% ( 7.83 % ) and a stated maturity of september 15 , 2015 , and are payable monthly with interest-only payments for the first ten years and payments of interest and principal for the remainder of the term . series b debt issuance costs of $ 0.3 million and a $ 0.8 million loss on termination of a forward contract are being amortized on a straight- line basis over the life of the notes . the settlement entered into in connection with visa check/ master money antitrust litigation had triggered an event of default under the 1995 lease agreement . accordingly , the related debt was classified as a current liability at september 30 , 2007 . in may 2008 , visa inc. , visa u.s.a . and visa international executed an amendment and waiver to the 1995 lease agreement ( 201camended 1995 lease agreement 201d ) , curing the default and including a guarantee of remaining obligations under the agreement by visa inc . the interest terms remained unchanged . future principal payments future principal payments on the company 2019s outstanding debt are as follows: .
|fiscal|( in millions )|
|2009|52|
|2010|12|
|2011|12|
|2012|13|
|2013|8|
|thereafter|11|
|total|$ 108|
u.s . commercial paper program visa international maintains a u.s . commercial paper program to support its working capital requirements and for general corporate purposes . this program allows the company to issue up to $ 500 million of unsecured debt securities , with maturities up to 270 days from the date of issuance and at interest rates generally extended to companies with comparable credit ratings . at september 30 , 2008 , the company had no outstanding obligations under this program . revolving credit facilities on february 15 , 2008 , visa inc . entered into a $ 3.0 billion five-year revolving credit facility ( the 201cfebruary 2008 agreement 201d ) which replaced visa international 2019s $ 2.25 billion credit facility . the february 2008 agreement matures on february 15 , 2013 and contains covenants and events of defaults customary for facilities of this type . at september 30 , 2008 , the company is in compliance with all covenants with respect to the revolving credit facility. .
Question: in 2008 what was the percent of the total future principal payments on the company 2019s outstanding debt that was due in 2009
Answer: | 0.48148 |
FINQA4098 | Please answer the given financial question based on the context.
Context: air mobility sales declined by $ 535 million primarily due to c-130j deliveries ( 12 in 2006 compared to 15 in 2005 ) and lower volume on the c-5 program . combat aircraft sales increased by $ 292 million mainly due to higher f-35 and f-22 volume , partially offset by reduced volume on f-16 programs . other aeronautics programs sales increased by $ 83 million primarily due to higher volume in sustainment services activities . operating profit for the segment increased 21% ( 21 % ) in 2007 compared to 2006 . operating profit increases in combat aircraft more than offset decreases in other aeronautics programs and air mobility . combat aircraft operating profit increased $ 326 million mainly due to improved performance on f-22 and f-16 programs . air mobility and other aeronautics programs declined $ 77 million due to lower operating profit in support and sustainment activities . operating profit for the segment increased 20% ( 20 % ) in 2006 compared to 2005 . operating profit increased in both combat aircraft and air mobility . combat aircraft increased $ 114 million , mainly due to higher volume on the f-35 and f-22 programs , and improved performance on f-16 programs . the improvement for the year was also attributable in part to the fact that in 2005 , operating profit included a reduction in earnings on the f-35 program . air mobility operating profit increased $ 84 million , mainly due to improved performance on c-130j sustainment activities in 2006 . backlog decreased in 2007 as compared to 2006 primarily as a result of sales volume on the f-35 program . this decrease was offset partially by increased orders on the f-22 and c-130j programs . electronic systems electronic systems 2019 operating results included the following : ( in millions ) 2007 2006 2005 .
|( in millions )|2007|2006|2005|
|net sales|$ 11143|$ 10519|$ 9811|
|operating profit|1410|1264|1078|
|backlog at year-end|21200|19700|18600|
net sales for electronic systems increased by 6% ( 6 % ) in 2007 compared to 2006 . sales increased in missiles & fire control ( m&fc ) , maritime systems & sensors ( ms2 ) , and platform , training & energy ( pt&e ) . m&fc sales increased $ 258 million mainly due to higher volume in fire control systems and air defense programs , which more than offset declines in tactical missile programs . ms2 sales grew $ 254 million due to volume increases in undersea and radar systems activities that were offset partially by decreases in surface systems activities . pt&e sales increased $ 113 million , primarily due to higher volume in platform integration activities , which more than offset declines in distribution technology activities . net sales for electronic systems increased by 7% ( 7 % ) in 2006 compared to 2005 . higher volume in platform integration activities led to increased sales of $ 329 million at pt&e . ms2 sales increased $ 267 million primarily due to surface systems activities . air defense programs contributed to increased sales of $ 118 million at m&fc . operating profit for the segment increased by 12% ( 12 % ) in 2007 compared to 2006 , representing an increase in all three lines of business during the year . operating profit increased $ 70 million at pt&e primarily due to higher volume and improved performance on platform integration activities . ms2 operating profit increased $ 32 million due to higher volume on undersea and tactical systems activities that more than offset lower volume on surface systems activities . at m&fc , operating profit increased $ 32 million due to higher volume in fire control systems and improved performance in tactical missile programs , which partially were offset by performance on certain international air defense programs in 2006 . operating profit for the segment increased by 17% ( 17 % ) in 2006 compared to 2005 . operating profit increased by $ 74 million at ms2 mainly due to higher volume on surface systems and undersea programs . pt&e operating profit increased $ 61 million mainly due to improved performance on distribution technology activities . higher volume on air defense programs contributed to a $ 52 million increase in operating profit at m&fc . the increase in backlog during 2007 over 2006 resulted primarily from increased orders for certain tactical missile programs and fire control systems at m&fc and platform integration programs at pt&e. .
Question: in 2007 what was the ratio of the increase in the combat aircraft sales to the other aeronautics programs sales
Answer: | 3.51807 |
FINQA4099 | Please answer the given financial question based on the context.
Context: interest rate derivatives . in connection with the issuance of floating rate debt in august and october 2008 , the company entered into three interest rate swap contracts , designated as cash flow hedges , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate . in december 2010 , the company approved a plan to refinance the term loan in january 2011 resulting in an $ 8.6 million loss on derivative instruments as a result of ineffectiveness on the associated interest rate swap contract . to mitigate counterparty credit risk , the interest rate swap contracts required collateralization by both counterparties for the swaps 2019 aggregate net fair value during their respective terms . collateral was maintained in the form of cash and adjusted on a daily basis . in february 2010 , the company entered into a forward starting interest rate swap contract , designated as a cash flow hedge , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate between the date of the swap and the forecasted issuance of fixed rate debt in march 2010 . the swap was highly effective . foreign currency derivatives . in connection with its purchase of bm&fbovespa stock in february 2008 , cme group purchased a put option to hedge against changes in the fair value of bm&fbovespa stock resulting from foreign currency rate fluctuations between the u.s . dollar and the brazilian real ( brl ) beyond the option 2019s exercise price . lehman brothers special financing inc . ( lbsf ) was the sole counterparty to this option contract . on september 15 , 2008 , lehman brothers holdings inc . ( lehman ) filed for protection under chapter 11 of the united states bankruptcy code . the bankruptcy filing of lehman was an event of default that gave the company the right to immediately terminate the put option agreement with lbsf . in march 2010 , the company recognized a $ 6.0 million gain on derivative instruments as a result of a settlement from the lehman bankruptcy proceedings . 21 . capital stock shares outstanding . the following table presents information regarding capital stock: .
|( in thousands )|december 31 , 2010|december 31 , 2009|
|shares authorized|1000000|1000000|
|class a common stock|66847|66511|
|class b-1 common stock|0.6|0.6|
|class b-2 common stock|0.8|0.8|
|class b-3 common stock|1.3|1.3|
|class b-4 common stock|0.4|0.4|
cme group has no shares of preferred stock issued and outstanding . associated trading rights . members of cme , cbot , nymex and comex own or lease trading rights which entitle them to access the trading floors , discounts on trading fees and the right to vote on certain exchange matters as provided for by the rules of the particular exchange and cme group 2019s or the subsidiaries 2019 organizational documents . each class of cme group class b common stock is associated with a membership in a specific division for trading at cme . a cme trading right is a separate asset that is not part of or evidenced by the associated share of class b common stock of cme group . the class b common stock of cme group is intended only to ensure that the class b shareholders of cme group retain rights with respect to representation on the board of directors and approval rights with respect to the core rights described below . trading rights at cbot are evidenced by class b memberships in cbot , at nymex by class a memberships in nymex and at comex by comex division memberships in comex . members of the cbot , nymex and comex exchanges do not have any rights to elect members of the board of directors and are not entitled to receive dividends or other distributions on their memberships . the company is , however , required to have at least 10 cbot directors ( as defined by its bylaws ) until its 2012 annual meeting. .
Question: in 2010 what was the percent of the shares authorized that was class-a common stock
Answer: | 0.06685 |
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