id
stringlengths 6
9
| Open-ended Verifiable Question
stringlengths 594
16.3k
| Ground-True Answer
stringlengths 2
16
|
|---|---|---|
FINQA4200 | Please answer the given financial question based on the context.
Context: investment policy , which is described more fully in note 15 employee benefit plans in the notes to consolidated financial statements in item 8 of this report . we calculate the expense associated with the pension plan and the assumptions and methods that we use include a policy of reflecting trust assets at their fair market value . on an annual basis , we review the actuarial assumptions related to the pension plan , including the discount rate , the rate of compensation increase and the expected return on plan assets . the discount rate and compensation increase assumptions do not significantly affect pension expense . however , the expected long-term return on assets assumption does significantly affect pension expense . our expected long- term return on plan assets for determining net periodic pension expense has been 8.25% ( 8.25 % ) for the past three years . the expected return on plan assets is a long-term assumption established by considering historical and anticipated returns of the asset classes invested in by the pension plan and the allocation strategy currently in place among those classes . while this analysis gives appropriate consideration to recent asset performance and historical returns , the assumption represents a long-term prospective return . we review this assumption at each measurement date and adjust it if warranted . for purposes of setting and reviewing this assumption , 201clong- term 201d refers to the period over which the plan 2019s projected benefit obligation will be disbursed . while year-to-year annual returns can vary significantly ( rates of return for the reporting years of 2009 , 2008 , and 2007 were +20.61% ( +20.61 % ) , -32.91% ( -32.91 % ) , and +7.57% ( +7.57 % ) , respectively ) , the assumption represents our estimate of long-term average prospective returns . our selection process references certain historical data and the current environment , but primarily utilizes qualitative judgment regarding future return expectations . recent annual returns may differ but , recognizing the volatility and unpredictability of investment returns , we generally do not change the assumption unless we modify our investment strategy or identify events that would alter our expectations of future returns . to evaluate the continued reasonableness of our assumption , we examine a variety of viewpoints and data . various studies have shown that portfolios comprised primarily of us equity securities have returned approximately 10% ( 10 % ) over long periods of time , while us debt securities have returned approximately 6% ( 6 % ) annually over long periods . application of these historical returns to the plan 2019s allocation of equities and bonds produces a result between 8% ( 8 % ) and 8.5% ( 8.5 % ) and is one point of reference , among many other factors , that is taken into consideration . we also examine the plan 2019s actual historical returns over various periods . recent experience is considered in our evaluation with appropriate consideration that , especially for short time periods , recent returns are not reliable indicators of future returns , and in many cases low returns in recent time periods are followed by higher returns in future periods ( and vice versa ) . acknowledging the potentially wide range for this assumption , we also annually examine the assumption used by other companies with similar pension investment strategies , so that we can ascertain whether our determinations markedly differ from other observers . in all cases , however , this data simply informs our process , which places the greatest emphasis on our qualitative judgment of future investment returns , given the conditions existing at each annual measurement date . the expected long-term return on plan assets for determining net periodic pension cost for 2009 was 8.25% ( 8.25 % ) , unchanged from 2008 . during 2010 , we intend to decrease the midpoint of the plan 2019s target allocation range for equities by approximately five percentage points . as a result of this change and taking into account all other factors described above , pnc will change the expected long-term return on plan assets to 8.00% ( 8.00 % ) for determining net periodic pension cost for 2010 . under current accounting rules , the difference between expected long-term returns and actual returns is accumulated and amortized to pension expense over future periods . each one percentage point difference in actual return compared with our expected return causes expense in subsequent years to change by up to $ 8 million as the impact is amortized into results of operations . the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2010 estimated expense as a baseline . change in assumption ( a ) estimated increase to 2010 pension expense ( in millions ) .
|change in assumption ( a )|estimatedincrease to 2010pensionexpense ( inmillions )|
|.5% ( .5 % ) decrease in discount rate|$ 10|
|.5% ( .5 % ) decrease in expected long-term return on assets|$ 18|
|.5% ( .5 % ) increase in compensation rate|$ 3|
( a ) the impact is the effect of changing the specified assumption while holding all other assumptions constant . we currently estimate a pretax pension expense of $ 41 million in 2010 compared with pretax expense of $ 117 million in 2009 . this year-over-year reduction was primarily due to the amortization impact of the favorable 2009 investment returns as compared with the expected long-term return assumption . our pension plan contribution requirements are not particularly sensitive to actuarial assumptions . investment performance has the most impact on contribution requirements and will drive the amount of permitted contributions in future years . also , current law , including the provisions of the pension protection act of 2006 , sets limits as to both minimum and maximum contributions to the plan . we expect that the minimum required contributions under the law will be zero for 2010 . we maintain other defined benefit plans that have a less significant effect on financial results , including various .
Question: does a .5% ( .5 % ) decrease in discount rate have a greater impact than a .5% ( .5 % ) decrease in expected long-term return on assets?
Answer: | no |
FINQA4201 | Please answer the given financial question based on the context.
Context: additions to property , plant and equipment are our most significant use of cash and cash equivalents . the following table shows capital expenditures related to continuing operations by segment and reconciles to additions to property , plant and equipment as presented in the consolidated statements of cash flows for 2014 , 2013 and 2012: .
|( in millions )|year ended december 31 , 2014|year ended december 31 , 2013|year ended december 31 , 2012|
|north america e&p|$ 4698|$ 3649|$ 3988|
|international e&p|534|456|235|
|oil sands mining|212|286|188|
|corporate|51|58|115|
|total capital expenditures|5495|4449|4526|
|change in capital expenditure accrual|-335 ( 335 )|-6 ( 6 )|-165 ( 165 )|
|additions to property plant and equipment|$ 5160|$ 4443|$ 4361|
as of december 31 , 2014 , we had repurchased a total of 121 million common shares at a cost of $ 4.7 billion , including 29 million shares at a cost of $ 1 billion in the first six months of 2014 and 14 million shares at a cost of $ 500 million in the third quarter of 2013 . see item 8 . financial statements and supplementary data 2013 note 22 to the consolidated financial statements for discussion of purchases of common stock . liquidity and capital resources our main sources of liquidity are cash and cash equivalents , internally generated cash flow from operations , continued access to capital markets , our committed revolving credit facility and sales of non-strategic assets . our working capital requirements are supported by these sources and we may issue commercial paper backed by our $ 2.5 billion revolving credit facility to meet short-term cash requirements . because of the alternatives available to us as discussed above and access to capital markets through the shelf registration discussed below , we believe that our short-term and long-term liquidity is adequate to fund not only our current operations , but also our near-term and long-term funding requirements including our capital spending programs , dividend payments , defined benefit plan contributions , repayment of debt maturities and other amounts that may ultimately be paid in connection with contingencies . at december 31 , 2014 , we had approximately $ 4.9 billion of liquidity consisting of $ 2.4 billion in cash and cash equivalents and $ 2.5 billion availability under our revolving credit facility . as discussed in more detail below in 201coutlook 201d , we are targeting a $ 3.5 billion budget for 2015 . based on our projected 2015 cash outlays for our capital program and dividends , we expect to outspend our cash flows from operations for the year . we will be constantly monitoring our available liquidity during 2015 and we have the flexibility to adjust our budget throughout the year in response to the commodity price environment . we will also continue to drive the fundamentals of expense management , including organizational capacity and operational reliability . capital resources credit arrangements and borrowings in may 2014 , we amended our $ 2.5 billion unsecured revolving credit facility and extended the maturity to may 2019 . see note 16 to the consolidated financial statements for additional terms and rates . at december 31 , 2014 , we had no borrowings against our revolving credit facility and no amounts outstanding under our u.s . commercial paper program that is backed by the revolving credit facility . at december 31 , 2014 , we had $ 6391 million in long-term debt outstanding , and $ 1068 million is due within one year , of which the majority is due in the fourth quarter of 2015 . we do not have any triggers on any of our corporate debt that would cause an event of default in the case of a downgrade of our credit ratings . shelf registration we have a universal shelf registration statement filed with the sec , under which we , as "well-known seasoned issuer" for purposes of sec rules , have the ability to issue and sell an indeterminate amount of various types of debt and equity securities from time to time. .
Question: what was the average three year cash flow , in millions , from oil sands mining?
Answer: | 228.66667 |
FINQA4202 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis j.p . morgan chase & co . 22 j.p . morgan chase & co . / 2003 annual report overview j.p . morgan chase & co . is a leading global finan- cial services firm with assets of $ 771 billion and operations in more than 50 countries . the firm serves more than 30 million consumers nationwide through its retail businesses , and many of the world's most prominent corporate , institutional and government clients through its global whole- sale businesses . total noninterest expense was $ 21.7 billion , down 5% ( 5 % ) from the prior year . in 2002 , the firm recorded $ 1.3 billion of charges , princi- pally for enron-related surety litigation and the establishment of lit- igation reserves ; and $ 1.2 billion for merger and restructuring costs related to programs announced prior to january 1 , 2002 . excluding these costs , expenses rose by 7% ( 7 % ) in 2003 , reflecting higher per- formance-related incentives ; increased costs related to stock-based compensation and pension and other postretirement expenses ; and higher occupancy expenses . the firm began expensing stock options in 2003 . restructuring costs associated with initiatives announced after january 1 , 2002 , were recorded in their relevant expense categories and totaled $ 630 million in 2003 , down 29% ( 29 % ) from 2002 . the 2003 provision for credit losses of $ 1.5 billion was down $ 2.8 billion , or 64% ( 64 % ) , from 2002 . the provision was lower than total net charge-offs of $ 2.3 billion , reflecting significant improvement in the quality of the commercial loan portfolio . commercial nonperforming assets and criticized exposure levels declined 42% ( 42 % ) and 47% ( 47 % ) , respectively , from december 31 , 2002 . consumer credit quality remained stable . earnings per diluted share ( 201ceps 201d ) for the year were $ 3.24 , an increase of 305% ( 305 % ) over the eps of $ 0.80 reported in 2002 . results in 2002 were provided on both a reported basis and an operating basis , which excluded merger and restructuring costs and special items . operating eps in 2002 was $ 1.66 . see page 28 of this annual report for a reconciliation between reported and operating eps . summary of segment results the firm 2019s wholesale businesses are known globally as 201cjpmorgan , 201d and its national consumer and middle market busi- nesses are known as 201cchase . 201d the wholesale businesses com- prise four segments : the investment bank ( 201cib 201d ) , treasury & securities services ( 201ctss 201d ) , investment management & private banking ( 201cimpb 201d ) and jpmorgan partners ( 201cjpmp 201d ) . ib provides a full range of investment banking and commercial banking products and services , including advising on corporate strategy and structure , capital raising , risk management , and market-making in cash securities and derivative instruments in all major capital markets . the three businesses within tss provide debt servicing , securities custody and related functions , and treasury and cash management services to corporations , financial institutions and governments . the impb business provides invest- ment management services to institutional investors , high net worth individuals and retail customers and also provides person- alized advice and solutions to wealthy individuals and families . jpmp , the firm 2019s private equity business , provides equity and mez- zanine capital financing to private companies . the firm 2019s national consumer and middle market businesses , which provide lending and full-service banking to consumers and small and middle mar- ket businesses , comprise chase financial services ( 201ccfs 201d ) . financial performance of jpmorgan chase as of or for the year ended december 31 .
|( in millions except per share and ratio data )|2003|2002|change|
|revenue|$ 33256|$ 29614|12% ( 12 % )|
|noninterest expense|21688|22764|-5 ( 5 )|
|provision for credit losses|1540|4331|-64 ( 64 )|
|net income|6719|1663|304|
|net income per share 2013 diluted|3.24|0.80|305|
|average common equity|42988|41368|4|
|return on average common equity ( 201croce 201d )|16% ( 16 % )|4% ( 4 % )|1200bp|
|tier 1 capital ratio|8.5% ( 8.5 % )|8.2% ( 8.2 % )|30bp|
|total capital ratio|11.8|12.0|-20 ( 20 )|
|tier 1 leverage ratio|5.6|5.1|50|
in 2003 , global growth strengthened relative to the prior two years . the u.s . economy improved significantly , supported by diminishing geopolitical uncertainties , new tax relief , strong profit growth , low interest rates and a rising stock market . productivity at u.s . businesses continued to grow at an extraor- dinary pace , as a result of ongoing investment in information technologies . profit margins rose to levels not seen in a long time . new hiring remained tepid , but signs of an improving job market emerged late in the year . inflation fell to the lowest level in more than 40 years , and the board of governors of the federal reserve system ( the 201cfederal reserve board 201d ) declared that its long-run goal of price stability had been achieved . against this backdrop , j.p . morgan chase & co . ( 201cjpmorgan chase 201d or the 201cfirm 201d ) reported 2003 net income of $ 6.7 bil- lion , compared with net income of $ 1.7 billion in 2002 . all five of the firm 2019s lines of business benefited from the improved eco- nomic conditions , with each reporting increased revenue over 2002 . in particular , the low 2013interest rate environment drove robust fixed income markets and an unprecedented mortgage refinancing boom , resulting in record earnings in the investment bank and chase financial services . total revenue for 2003 was $ 33.3 billion , up 12% ( 12 % ) from 2002 . the investment bank 2019s revenue increased by approximately $ 1.9 billion from 2002 , and chase financial services 2019 revenue was $ 14.6 billion in 2003 , another record year. .
Question: what was non-interest expense as a percentage of revenue in 2003?
Answer: | 0.65215 |
FINQA4203 | Please answer the given financial question based on the context.
Context: advance auto parts , inc . and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income . the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows . in january 2010 , the fasb issued asu no . 2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy . the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value . the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 . the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows . 3 . inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 2011 . under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2011 and prior years . as a result of utilizing lifo , the company recorded an increase to cost of sales of $ 24708 for fiscal 2011 due to an increase in supply chain costs and inflationary pressures affecting certain product categories . the company recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively . prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies . product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( "fifo" ) method . product cores are included as part of the company's merchandise costs and are either passed on to the customer or returned to the vendor . because product cores are not subject to frequent cost changes like the company's other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method . inventory overhead costs purchasing and warehousing costs included in inventory , at fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively . inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .
||december 312011|january 12011|
|inventories at fifo net|$ 1941055|$ 1737059|
|adjustments to state inventories at lifo|102103|126811|
|inventories at lifo net|$ 2043158|$ 1863870|
advance auto parts , inc . and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income . the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows . in january 2010 , the fasb issued asu no . 2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy . the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value . the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 . the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows . 3 . inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 2011 . under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2011 and prior years . as a result of utilizing lifo , the company recorded an increase to cost of sales of $ 24708 for fiscal 2011 due to an increase in supply chain costs and inflationary pressures affecting certain product categories . the company recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively . prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies . product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( "fifo" ) method . product cores are included as part of the company's merchandise costs and are either passed on to the customer or returned to the vendor . because product cores are not subject to frequent cost changes like the company's other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method . inventory overhead costs purchasing and warehousing costs included in inventory , at fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively . inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .
Question: how is the cashflow from operations affected by the change in inventories at fifo net?
Answer: | -203996.0 |
FINQA4204 | Please answer the given financial question based on the context.
Context: there is no goodwill assigned to reporting units within the balance sheet management segment . the following table shows the amount of goodwill allocated to each of the reporting units and the fair value as a percentage of book value for the reporting units in the trading and investing segment ( dollars in millions ) : .
|reporting unit|december 31 2012 goodwill|december 31 2012 % ( % ) of fair value to book value|
|retail brokerage|$ 1791.8|190% ( 190 % )|
|market making|142.4|115% ( 115 % )|
|total goodwill|$ 1934.2||
we also evaluate the remaining useful lives on intangible assets each reporting period to determine whether events and circumstances warrant a revision to the remaining period of amortization . other intangible assets have a weighted average remaining useful life of 13 years . we did not recognize impairment on our other intangible assets in the periods presented . effects if actual results differ if our estimates of fair value for the reporting units change due to changes in our business or other factors , we may determine that an impairment charge is necessary . estimates of fair value are determined based on a complex model using estimated future cash flows and company comparisons . if actual cash flows are less than estimated future cash flows used in the annual assessment , then goodwill would have to be tested for impairment . the estimated fair value of the market making reporting unit as a percentage of book value was approximately 115% ( 115 % ) ; therefore , if actual cash flows are less than our estimated cash flows , goodwill impairment could occur in the market making reporting unit in the future . these cash flows will be monitored closely to determine if a further evaluation of potential impairment is necessary so that impairment could be recognized in a timely manner . in addition , following the review of order handling practices and pricing for order flow between e*trade securities llc and gi execution services , llc , our regulators may initiate investigations into our historical practices which could subject us to monetary penalties and cease-and-desist orders , which could also prompt claims by customers of e*trade securities llc . any of these actions could materially and adversely affect our market making and trade execution businesses , which could impact future cash flows and could result in goodwill impairment . intangible assets are amortized over their estimated useful lives . if changes in the estimated underlying revenue occur , impairment or a change in the remaining life may need to be recognized . estimates of effective tax rates , deferred taxes and valuation allowance description in preparing the consolidated financial statements , we calculate income tax expense ( benefit ) based on our interpretation of the tax laws in the various jurisdictions where we conduct business . this requires us to estimate current tax obligations and the realizability of uncertain tax positions and to assess temporary differences between the financial statement carrying amounts and the tax basis of assets and liabilities . these differences result in deferred tax assets and liabilities , the net amount of which we show as other assets or other liabilities on the consolidated balance sheet . we must also assess the likelihood that each of the deferred tax assets will be realized . to the extent we believe that realization is not more likely than not , we establish a valuation allowance . when we establish a valuation allowance or increase this allowance in a reporting period , we generally record a corresponding tax expense in the consolidated statement of income ( loss ) . conversely , to the extent circumstances indicate that a valuation allowance is no longer necessary , that portion of the valuation allowance is reversed , which generally reduces overall income tax expense . at december 31 , 2012 we had net deferred tax assets of $ 1416.2 million , net of a valuation allowance ( on state , foreign country and charitable contribution deferred tax assets ) of $ 97.8 million. .
Question: as of december 2012 what was the ratio of the retail brokerage to market making goodwill
Answer: | 12.58287 |
FINQA4205 | Please answer the given financial question based on the context.
Context: the net decrease in the 2016 effective tax rate was due , in part , to the 2016 asset impairments in the u.s . and to the current year benefit related to a restructuring of one of our brazilian businesses that increases tax basis in long-term assets . further , the 2015 rate was impacted by the items described below . see note 20 2014asset impairment expense for additional information regarding the 2016 u.s . asset impairments . income tax expense increased $ 101 million , or 27% ( 27 % ) , to $ 472 million in 2015 . the company's effective tax rates were 41% ( 41 % ) and 26% ( 26 % ) for the years ended december 31 , 2015 and 2014 , respectively . the net increase in the 2015 effective tax rate was due , in part , to the nondeductible 2015 impairment of goodwill at our u.s . utility , dp&l and chilean withholding taxes offset by the release of valuation allowance at certain of our businesses in brazil , vietnam and the u.s . further , the 2014 rate was impacted by the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin aes pte ltd. , which owns the company 2019s business interests in the philippines and the 2014 sale of the company 2019s interests in four u.k . wind operating projects . neither of these transactions gave rise to income tax expense . see note 15 2014equity for additional information regarding the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin-aes pte ltd . see note 23 2014dispositions for additional information regarding the sale of the company 2019s interests in four u.k . wind operating projects . our effective tax rate reflects the tax effect of significant operations outside the u.s. , which are generally taxed at rates lower than the u.s . statutory rate of 35% ( 35 % ) . a future proportionate change in the composition of income before income taxes from foreign and domestic tax jurisdictions could impact our periodic effective tax rate . the company also benefits from reduced tax rates in certain countries as a result of satisfying specific commitments regarding employment and capital investment . see note 21 2014income taxes for additional information regarding these reduced rates . foreign currency transaction gains ( losses ) foreign currency transaction gains ( losses ) in millions were as follows: .
|years ended december 31,|2016|2015|2014|
|aes corporation|$ -50 ( 50 )|$ -31 ( 31 )|$ -34 ( 34 )|
|chile|-9 ( 9 )|-18 ( 18 )|-30 ( 30 )|
|colombia|-8 ( 8 )|29|17|
|mexico|-8 ( 8 )|-6 ( 6 )|-14 ( 14 )|
|philippines|12|8|11|
|united kingdom|13|11|12|
|argentina|37|124|66|
|other|-2 ( 2 )|-10 ( 10 )|-17 ( 17 )|
|total ( 1 )|$ -15 ( 15 )|$ 107|$ 11|
total ( 1 ) $ ( 15 ) $ 107 $ 11 _____________________________ ( 1 ) includes gains of $ 17 million , $ 247 million and $ 172 million on foreign currency derivative contracts for the years ended december 31 , 2016 , 2015 and 2014 , respectively . the company recognized a net foreign currency transaction loss of $ 15 million for the year ended december 31 , 2016 primarily due to losses of $ 50 million at the aes corporation mainly due to remeasurement losses on intercompany notes , and losses on swaps and options . this loss was partially offset by gains of $ 37 million in argentina , mainly due to the favorable impact of foreign currency derivatives related to government receivables . the company recognized a net foreign currency transaction gain of $ 107 million for the year ended december 31 , 2015 primarily due to gains of : 2022 $ 124 million in argentina , due to the favorable impact from foreign currency derivatives related to government receivables , partially offset by losses from the devaluation of the argentine peso associated with u.s . dollar denominated debt , and losses at termoandes ( a u.s . dollar functional currency subsidiary ) primarily associated with cash and accounts receivable balances in local currency , 2022 $ 29 million in colombia , mainly due to the depreciation of the colombian peso , positively impacting chivor ( a u.s . dollar functional currency subsidiary ) due to liabilities denominated in colombian pesos , 2022 $ 11 million in the united kingdom , mainly due to the depreciation of the pound sterling , resulting in gains at ballylumford holdings ( a u.s . dollar functional currency subsidiary ) associated with intercompany notes payable denominated in pound sterling , and .
Question: what was the maximum argentina foreign currency gains in millions fofr the three year period?
Answer: | 124.0 |
FINQA4206 | Please answer the given financial question based on the context.
Context: in february 2008 , we issued $ 300.0 million of 8.375% ( 8.375 % ) series o cumulative redeemable preferred shares . the indentures ( and related supplemental indentures ) governing our outstanding series of notes also require us to comply with financial ratios and other covenants regarding our operations . we were in compliance with all such covenants as of december 31 , 2007 . sale of real estate assets we utilize sales of real estate assets as an additional source of liquidity . we pursue opportunities to sell real estate assets at favorable prices to capture value created by us as well as to improve the overall quality of our portfolio by recycling sale proceeds into new properties with greater value creation opportunities . uses of liquidity our principal uses of liquidity include the following : 2022 property investments ; 2022 recurring leasing/capital costs ; 2022 dividends and distributions to shareholders and unitholders ; 2022 long-term debt maturities ; and 2022 other contractual obligations property investments we evaluate development and acquisition opportunities based upon market outlook , supply and long-term growth potential . recurring expenditures one of our principal uses of our liquidity is to fund the recurring leasing/capital expenditures of our real estate investments . the following is a summary of our recurring capital expenditures for the years ended december 31 , 2007 , 2006 and 2005 , respectively ( in thousands ) : .
||2007|2006|2005|
|recurring tenant improvements|$ 45296|$ 41895|$ 60633|
|recurring leasing costs|32238|32983|33175|
|building improvements|8402|8122|15232|
|totals|$ 85936|$ 83000|$ 109040|
dividends and distributions in order to qualify as a reit for federal income tax purposes , we must currently distribute at least 90% ( 90 % ) of our taxable income to shareholders . we paid dividends per share of $ 1.91 , $ 1.89 and $ 1.87 for the years ended december 31 , 2007 , 2006 and 2005 , respectively . we also paid a one-time special dividend of $ 1.05 per share in 2005 as a result of the significant gain realized from an industrial portfolio sale . we expect to continue to distribute taxable earnings to meet the requirements to maintain our reit status . however , distributions are declared at the discretion of our board of directors and are subject to actual cash available for distribution , our financial condition , capital requirements and such other factors as our board of directors deems relevant . debt maturities debt outstanding at december 31 , 2007 totaled $ 4.3 billion with a weighted average interest rate of 5.74% ( 5.74 % ) maturing at various dates through 2028 . we had $ 3.2 billion of unsecured notes , $ 546.1 million outstanding on our unsecured lines of credit and $ 524.4 million of secured debt outstanding at december 31 , 2007 . scheduled principal amortization and maturities of such debt totaled $ 249.8 million for the year ended december 31 , 2007 and $ 146.4 million of secured debt was transferred to unconsolidated subsidiaries in connection with the contribution of properties in 2007. .
Question: in 2007 what was the ratio of the unsecured notes to the outstanding unsecured lines of credit
Answer: | 0.00586 |
FINQA4207 | Please answer the given financial question based on the context.
Context: goodwill is reviewed annually during the fourth quarter for impairment . in addition , the company performs an impairment analysis of other intangible assets based on the occurrence of other factors . such factors include , but are not limited to , significant changes in membership , state funding , medical contracts and provider networks and contracts . an impairment loss is recognized if the carrying value of intangible assets exceeds the implied fair value . medical claims liabilities medical services costs include claims paid , claims reported but not yet paid , or inventory , estimates for claims incurred but not yet received , or ibnr , and estimates for the costs necessary to process unpaid claims . the estimates of medical claims liabilities are developed using standard actuarial methods based upon historical data for payment patterns , cost trends , product mix , sea- sonality , utilization of healthcare services and other rele- vant factors including product changes . these estimates are continually reviewed and adjustments , if necessary , are reflected in the period known . management did not change actuarial methods during the years presented . management believes the amount of medical claims payable is reasonable and adequate to cover the company 2019s liability for unpaid claims as of december 31 , 2006 ; however , actual claim payments may differ from established estimates . revenue recognition the company 2019s medicaid managed care segment gener- ates revenues primarily from premiums received from the states in which it operates health plans . the company receives a fixed premium per member per month pursuant to our state contracts . the company generally receives premium payments during the month it provides services and recognizes premium revenue during the period in which it is obligated to provide services to its members . some states enact premium taxes or similar assessments , collectively premium taxes , and these taxes are recorded as general and administrative expenses . some contracts allow for additional premium related to certain supplemen- tal services provided such as maternity deliveries . revenues are recorded based on membership and eligibility data provided by the states , which may be adjusted by the states for updates to this data . these adjustments have been immaterial in relation to total revenue recorded and are reflected in the period known . the company 2019s specialty services segment generates revenues under contracts with state programs , healthcare organizations and other commercial organizations , as well as from our own subsidiaries on market-based terms . revenues are recognized when the related services are provided or as ratably earned over the covered period of service . premium and services revenues collected in advance are recorded as unearned revenue . for performance-based contracts the company does not recognize revenue subject to refund until data is sufficient to measure performance . premiums and service revenues due to the company are recorded as premium and related receivables and are recorded net of an allowance based on historical trends and management 2019s judgment on the collectibility of these accounts . as the company generally receives payments during the month in which services are provided , the allowance is typically not significant in comparison to total revenues and does not have a material impact on the pres- entation of the financial condition or results of operations . activity in the allowance for uncollectible accounts for the years ended december 31 is summarized below: .
||2006|2005|2004|
|allowances beginning of year|$ 343|$ 462|$ 607|
|amounts charged to expense|512|80|407|
|write-offs of uncollectible receivables|-700 ( 700 )|-199 ( 199 )|-552 ( 552 )|
|allowances end of year|$ 155|$ 343|$ 462|
significant customers centene receives the majority of its revenues under con- tracts or subcontracts with state medicaid managed care programs . the contracts , which expire on various dates between june 30 , 2007 and december 31 , 2011 , are expected to be renewed . contracts with the states of georgia , indiana , kansas , texas and wisconsin each accounted for 15% ( 15 % ) , 15% ( 15 % ) , 10% ( 10 % ) , 17% ( 17 % ) and 16% ( 16 % ) , respectively , of the company 2019s revenues for the year ended december 31 , 2006 . reinsurance centene has purchased reinsurance from third parties to cover eligible healthcare services . the current reinsurance program covers 90% ( 90 % ) of inpatient healthcare expenses in excess of annual deductibles of $ 300 to $ 500 per member , up to an annual maximum of $ 2000 . centene 2019s medicaid managed care subsidiaries are responsible for inpatient charges in excess of an average daily per diem . in addition , bridgeway participates in a risk-sharing program as part of its contract with the state of arizona for the reimbursement of certain contract service costs beyond a monetary threshold . reinsurance recoveries were $ 3674 , $ 4014 , and $ 3730 , in 2006 , 2005 , and 2004 , respectively . reinsurance expenses were approximately $ 4842 , $ 4105 , and $ 6724 in 2006 , 2005 , and 2004 , respectively . reinsurance recoveries , net of expenses , are included in medical costs . other income ( expense ) other income ( expense ) consists principally of investment income and interest expense . investment income is derived from the company 2019s cash , cash equivalents , restricted deposits and investments. .
Question: what was the percentage change in year end allowance for uncollectible accounts between 2004 and 2005?
Answer: | -0.25758 |
FINQA4208 | Please answer the given financial question based on the context.
Context: we are required under the terms of our preferred stock to pay scheduled quarterly dividends , subject to legally available funds . for so long as the preferred stock remains outstanding , ( 1 ) we will not declare , pay or set apart funds for the payment of any dividend or other distribution with respect to any junior stock or parity stock and ( 2 ) neither we , nor any of our subsidiaries , will , subject to certain exceptions , redeem , purchase or otherwise acquire for consideration junior stock or parity stock through a sinking fund or otherwise , in each case unless we have paid or set apart funds for the payment of all accumulated and unpaid dividends with respect to the shares of preferred stock and any parity stock for all preceding dividend periods . pursuant to this policy , we paid quarterly dividends of $ 0.265625 per share on our preferred stock on february 1 , 2009 , may 1 , 2009 , august 3 , 2009 and november 2 , 2009 and similar quarterly dividends during each quarter of 2008 . the annual cash dividend declared and paid during the years ended december 31 , 2009 and 2008 were $ 10 million and $ 10 million , respectively . on january 5 , 2010 , we declared a cash dividend of $ 0.265625 per share on our preferred stock amounting to $ 3 million and a cash dividend of $ 0.04 per share on our series a common stock amounting to $ 6 million . both cash dividends are for the period from november 2 , 2009 to january 31 , 2010 and were paid on february 1 , 2010 to holders of record as of january 15 , 2010 . on february 1 , 2010 , we announced we would elect to redeem all of our outstanding preferred stock on february 22 , 2010 . holders of the preferred stock also have the right to convert their shares at any time prior to 5:00 p.m. , new york city time , on february 19 , 2010 , the business day immediately preceding the february 22 , 2010 redemption date . based on the number of outstanding shares as of december 31 , 2009 and considering the redemption of our preferred stock , cash dividends to be paid in 2010 are expected to result in annual dividend payments less than those paid in 2009 . the amount available to us to pay cash dividends is restricted by our senior credit agreement . any decision to declare and pay dividends in the future will be made at the discretion of our board of directors and will depend on , among other things , our results of operations , cash requirements , financial condition , contractual restrictions and other factors that our board of directors may deem relevant . celanese purchases of its equity securities the table below sets forth information regarding repurchases of our series a common stock during the three months ended december 31 , 2009 : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced program approximate dollar value of shares remaining that may be purchased under the program .
|period|total number of shares purchased ( 1 )|average price paid per share|total number of shares purchased as part of publicly announced program|approximate dollar value of shares remaining that may be purchased under the program|
|october 1-31 2009|24980|$ 24.54|-|$ 122300000.00|
|november 1-30 2009|-|$ -|-|$ 122300000.00|
|december 1-31 2009|334|$ 32.03|-|$ 122300000.00|
( 1 ) relates to shares employees have elected to have withheld to cover their statutory minimum withholding requirements for personal income taxes related to the vesting of restricted stock units . no shares were purchased during the three months ended december 31 , 2009 under our previously announced stock repurchase plan . %%transmsg*** transmitting job : d70731 pcn : 033000000 ***%%pcmsg|33 |00012|yes|no|02/10/2010 05:41|0|0|page is valid , no graphics -- color : n| .
Question: what is the value of the shares purchased between october 1-31 2009
Answer: | 613009.2 |
FINQA4209 | Please answer the given financial question based on the context.
Context: kimco realty corporation and subsidiaries notes to consolidated financial statements , continued during 2012 , the albertsons joint venture distributed $ 50.3 million of which the company received $ 6.9 million , which was recognized as income from cash received in excess of the company 2019s investment , before income tax , and is included in equity in income from other real estate investments , net on the company 2019s consolidated statements of income . in january 2015 , the company invested an additional $ 85.3 million of new equity in the company 2019s albertsons joint venture to facilitate the acquisition of safeway inc . by the cerberus lead consortium . as a result , kimco now holds a 9.8% ( 9.8 % ) ownership interest in the combined company which operates 2230 stores across 34 states . leveraged lease - during june 2002 , the company acquired a 90% ( 90 % ) equity participation interest in an existing leveraged lease of 30 properties . the properties are leased under a long-term bond-type net lease whose primary term expires in 2016 , with the lessee having certain renewal option rights . the company 2019s cash equity investment was $ 4.0 million . this equity investment is reported as a net investment in leveraged lease in accordance with the fasb 2019s lease guidance . as of december 31 , 2014 , 19 of these properties were sold , whereby the proceeds from the sales were used to pay down $ 32.3 million in mortgage debt and the remaining 11 properties remain encumbered by third-party non-recourse debt of $ 11.2 million that is scheduled to fully amortize during the primary term of the lease from a portion of the periodic net rents receivable under the net lease . as an equity participant in the leveraged lease , the company has no recourse obligation for principal or interest payments on the debt , which is collateralized by a first mortgage lien on the properties and collateral assignment of the lease . accordingly , this obligation has been offset against the related net rental receivable under the lease . at december 31 , 2014 and 2013 , the company 2019s net investment in the leveraged lease consisted of the following ( in millions ) : .
||2014|2013|
|remaining net rentals|$ 8.3|$ 15.9|
|estimated unguaranteed residual value|30.3|30.3|
|non-recourse mortgage debt|-10.1 ( 10.1 )|-16.1 ( 16.1 )|
|unearned and deferred income|-12.9 ( 12.9 )|-19.9 ( 19.9 )|
|net investment in leveraged lease|$ 15.6|$ 10.2|
9 . variable interest entities : consolidated ground-up development projects included within the company 2019s ground-up development projects at december 31 , 2014 , is an entity that is a vie , for which the company is the primary beneficiary . this entity was established to develop real estate property to hold as a long-term investment . the company 2019s involvement with this entity is through its majority ownership and management of the property . this entity was deemed a vie primarily based on the fact that the equity investment at risk is not sufficient to permit the entity to finance its activities without additional financial support . the initial equity contributed to this entity was not sufficient to fully finance the real estate construction as development costs are funded by the partners throughout the construction period . the company determined that it was the primary beneficiary of this vie as a result of its controlling financial interest . at december 31 , 2014 , total assets of this ground-up development vie were $ 77.7 million and total liabilities were $ 0.1 million . the classification of these assets is primarily within real estate under development in the company 2019s consolidated balance sheets and the classifications of liabilities are primarily within accounts payable and accrued expenses on the company 2019s consolidated balance sheets . substantially all of the projected development costs to be funded for this ground-up development vie , aggregating $ 32.8 million , will be funded with capital contributions from the company and by the outside partners , when contractually obligated . the company has not provided financial support to this vie that it was not previously contractually required to provide. .
Question: at december 31 , 2014 what was the amount of the equity in millions for the , ground-up development vie in millions .
Answer: | 77.6 |
FINQA4210 | Please answer the given financial question based on the context.
Context: in november 2016 , we issued $ 45 million of fixed rate term notes in two tranches to two insurance companies . principal payments commence in 2023 and 2028 and the notes mature in 2029 and 2034 , respectively . the notes carry interest rates of 2.87 and 3.10 , respectively . we used proceeds of the notes to pay down borrowings under our revolving credit facility . in january 2015 , we issued $ 75 million of fixed rate term notes to an insurance company . principal payments commence in 2020 and the notes mature in 2030 . the notes carry an interest rate of 3.52 percent . we used proceeds of the notes to pay down borrowings under our revolving credit facility . at december 31 , 2016 , we had available borrowing capacity of $ 310.8 million under this facility . we believe that the combination of cash , available borrowing capacity and operating cash flow will provide sufficient funds to finance our existing operations for the foreseeable future . our total debt increased to $ 323.6 million at december 31 , 2016 compared with $ 249.0 million at december 31 , 2015 , as our cash flows generated in the u.s were more than offset by our share repurchase activity and our purchase of aquasana . as a result , our leverage , as measured by the ratio of total debt to total capitalization , was 17.6 percent at the end of 2016 compared with 14.7 percent at the end of 2015 . our u.s . pension plan continues to meet all funding requirements under erisa regulations . we were not required to make a contribution to our pension plan in 2016 but made a voluntary $ 30 million contribution due to escalating pension benefit guaranty corporation insurance premiums . we forecast that we will not be required to make a contribution to the plan in 2017 and we do not plan to make any voluntary contributions in 2017 . for further information on our pension plans , see note 10 of the notes to consolidated financial statements . during 2016 , our board of directors authorized the purchase of an additional 3000000 shares of our common stock . in 2016 , we repurchased 3273109 shares at an average price of $ 41.30 per share and a total cost of $ 135.2 million . a total of 4906403 shares remained on the existing repurchase authorization at december 31 , 2016 . depending on factors such as stock price , working capital requirements and alternative investment opportunities , such as acquisitions , we expect to spend approximately $ 135 million on share repurchase activity in 2017 using a 10b5-1 repurchase plan . in addition , we may opportunistically repurchase an additional $ 65 million of our shares in 2017 . we have paid dividends for 77 consecutive years with payments increasing each of the last 25 years . we paid dividends of $ 0.48 per share in 2016 compared with $ 0.38 per share in 2015 . in january 2017 , we increased our dividend by 17 percent and anticipate paying dividends of $ 0.56 per share in 2017 . aggregate contractual obligations a summary of our contractual obligations as of december 31 , 2016 , is as follows: .
|( dollars in millions ) contractual obligations|( dollars in millions ) total|( dollars in millions ) less than1 year|( dollars in millions ) 1 - 2years|( dollars in millions ) 3 - 5years|more than5 years|
|long-term debt|$ 323.6|$ 7.2|$ 7.2|$ 202.9|$ 106.3|
|fixed rate interest|38.6|4.6|8.1|7.2|18.7|
|operating leases|37.4|19.5|7.9|4.2|5.8|
|purchase obligations|150.8|141.4|5.8|3.6|2014|
|pension and post-retirement obligations|66.0|0.9|9.5|8.6|47.0|
|total|$ 616.4|$ 173.6|$ 38.5|$ 226.5|$ 177.8|
as of december 31 , 2016 , our liability for uncertain income tax positions was $ 4.2 million . due to the high degree of uncertainty regarding timing of potential future cash flows associated with these liabilities , we are unable to make a reasonably reliable estimate of the amount and period in which these liabilities might be paid . we utilize blanket purchase orders to communicate expected annual requirements to many of our suppliers . requirements under blanket purchase orders generally do not become committed until several weeks prior to our scheduled unit production . the purchase obligation amount presented above represents the value of commitments that we consider firm . recent accounting pronouncements refer to recent accounting pronouncements in note 1 of notes to consolidated financial statements. .
Question: what percentage of total aggregate contractual obligations is due to long term debt?
Answer: | 0.52498 |
FINQA4211 | Please answer the given financial question based on the context.
Context: stock performance graph the following performance graph compares the cumulative total return ( including dividends ) to the holders of our common stock from december 31 , 2002 through december 31 , 2007 , with the cumulative total returns of the nyse composite index , the ftse nareit composite reit index ( the 201call reit index 201d ) , the ftse nareit healthcare equity reit index ( the 201chealthcare reit index 201d ) and the russell 1000 index over the same period . the comparison assumes $ 100 was invested on december 31 , 2002 in our common stock and in each of the foregoing indices and assumes reinvestment of dividends , as applicable . we have included the nyse composite index in the performance graph because our common stock is listed on the nyse . we have included the other indices because we believe that they are either most representative of the industry in which we compete , or otherwise provide a fair basis for comparison with ventas , and are therefore particularly relevant to an assessment of our performance . the figures in the table below are rounded to the nearest dollar. .
||12/31/2002|12/31/2003|12/31/2004|12/31/2005|12/31/2006|12/31/2007|
|ventas|$ 100|$ 206|$ 270|$ 331|$ 457|$ 512|
|nyse composite index|$ 100|$ 132|$ 151|$ 166|$ 200|$ 217|
|all reit index|$ 100|$ 138|$ 181|$ 196|$ 262|$ 215|
|healthcare reit index|$ 100|$ 154|$ 186|$ 189|$ 273|$ 279|
|russell 1000 index|$ 100|$ 130|$ 145|$ 154|$ 178|$ 188|
ventas nyse composite index all reit index healthcare reit index russell 1000 index .
Question: what was the 5 year return on ventas common stock?
Answer: | 4.12 |
FINQA4212 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements acquisition accounting upon closing of the acquisition . based on current estimates , the company expects the value of potential contingent consideration payments required to be made under these agreements to be between zero and $ 4.4 million . during the year ended december 31 , 2014 , the company ( i ) recorded a decrease in fair value of $ 1.7 million in other operating expenses in the accompanying consolidated statements of operations , ( ii ) recorded settlements under these agreements of $ 3.5 million , ( iii ) reduced its contingent consideration liability by $ 0.7 million as a portion of the company 2019s obligations was assumed by the buyer in conjunction with the sale of operations in panama and ( iv ) recorded additional liability of $ 0.1 million . as a result , the company estimates the value of potential contingent consideration payments required under these agreements to be $ 2.3 million using a probability weighted average of the expected outcomes as of december 31 , 2014 . other u.s . 2014in connection with other acquisitions in the united states , the company is required to make additional payments if certain pre-designated tenant leases commence during a specified period of time . during the year ended december 31 , 2014 , the company recorded $ 6.3 million of contingent consideration liability as part of the preliminary acquisition accounting upon closing of certain acquisitions . during the year ended december 31 , 2014 , the company recorded settlements under these agreements of $ 0.4 million . based on current estimates , the company expects the value of potential contingent consideration payments required to be made under these agreements to be between zero and $ 5.9 million and estimates it to be $ 5.9 million using a probability weighted average of the expected outcomes as of december 31 , 2014 . for more information regarding contingent consideration , see note 12 . 7 . accrued expenses accrued expenses consists of the following as of december 31 , ( in thousands ) : .
||2014|2013 ( 1 )|
|accrued property and real estate taxes|$ 61206|$ 54529|
|payroll and related withholdings|57110|50843|
|accrued construction costs|46024|52446|
|accrued rent|34074|28456|
|other accrued expenses|219340|234914|
|balance as of december 31,|$ 417754|$ 421188|
( 1 ) december 31 , 2013 balances have been revised to reflect purchase accounting measurement period adjustments. .
Question: how much of the of contingent consideration for acquisitions was actually settled in 2014?
Answer: | 0.06349 |
FINQA4213 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have guarantees of certain obligations of our subsidiaries relating principally to credit facilities , certain media payables and operating leases of certain subsidiaries . the amount of such parent company guarantees was $ 769.3 and $ 706.7 as of december 31 , 2009 and 2008 , respectively . in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee . as of december 31 , 2009 , there are no material assets pledged as security for such parent company guarantees . contingent acquisition obligations the following table details the estimated future contingent acquisition obligations payable in cash as of december 31 , 2009 . the estimated amounts listed would be paid in the event of exercise at the earliest exercise date . see note 6 for further information relating to the payment structure of our acquisitions . all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress. .
||2010|2011|2012|2013|2014|thereafter|total|
|deferred acquisition payments|$ 20.5|$ 34.8|$ 1.2|$ 1.1|$ 2.1|$ 0.3|$ 60.0|
|redeemable noncontrolling interests and call options with affiliates1|44.4|47.9|40.5|36.3|3.3|2014|172.4|
|total contingent acquisition payments|64.9|82.7|41.7|37.4|5.4|0.3|232.4|
|less : cash compensation expense included above|1.0|1.0|1.0|0.5|2014|2014|3.5|
|total|$ 63.9|$ 81.7|$ 40.7|$ 36.9|$ 5.4|$ 0.3|$ 228.9|
1 we have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions . in such instances , we have included the related estimated contingent acquisition obligation in the period when the earliest related option is exercisable . we have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of december 31 , 2009 . as such , these estimated acquisition payments of $ 20.5 have been included within the total payments expected to be made in 2010 in the table and , if not made in 2010 , will continue to carry forward into 2011 or beyond until they are exercised or expire . redeemable noncontrolling interests are included in the table at current exercise price payable in cash , not at applicable redemption value in accordance with the authoritative guidance for classification and measurement of redeemable securities . legal matters we are involved in legal and administrative proceedings of various types . while any litigation contains an element of uncertainty , we do not believe that the outcome of such proceedings will have a material adverse effect on our financial condition , results of operations or cash flows . note 16 : recent accounting standards in december 2009 , the financial accounting standards board ( 201cfasb 201d ) amended authoritative guidance related to accounting for transfers and servicing of financial assets and extinguishments of liabilities . the guidance will be effective for the company beginning january 1 , 2010 . the guidance eliminates the concept of a qualifying special-purpose entity and changes the criteria for derecognizing financial assets . in addition , the guidance will require additional disclosures related to a company 2019s continued involvement with financial assets that have been transferred . we do not expect the adoption of this amended guidance to have a significant impact on our consolidated financial statements . in december 2009 , the fasb amended authoritative guidance for consolidating variable interest entities . the guidance will be effective for the company beginning january 1 , 2010 . specifically , the guidance revises factors that should be considered by a reporting entity when determining whether an entity that is insufficiently capitalized or is not controlled through voting ( or similar rights ) should be consolidated . this guidance also includes revised financial statement disclosures regarding the reporting entity 2019s involvement , including significant risk exposures as a result of that involvement , and the impact the relationship has on the reporting entity 2019s financial statements . we are currently evaluating the potential impact of the amended guidance on our consolidated financial statements. .
Question: what was the total amount , from 2008-2009 of guarantees of certain obligations of our subsidiaries relating principally to credit facilities , certain media payables and operating leases of certain subsidiaries , in millions?
Answer: | 1476.0 |
FINQA4214 | Please answer the given financial question based on the context.
Context: weighted average fair values and valuation assumptions used to value performance unit and performance stock grants during the years ended december 31 , 2016 , 2015 and 2014 were as follows: .
||2016|2015|2014|
|weighted average fair value of grants|$ 119.10|$ 80.64|$ 119.27|
|expected volatility|32.48% ( 32.48 % )|29.35% ( 29.35 % )|32.18% ( 32.18 % )|
|risk-free interest rate|1.15% ( 1.15 % )|1.07% ( 1.07 % )|1.18% ( 1.18 % )|
expected volatility is based on the term-matched historical volatility over the simulated term , which is calculated as the time between the grant date and the end of the performance period . the risk-free interest rate is based on a 3.25 year zero-coupon risk-free interest rate derived from the treasury constant maturities yield curve on the grant date . at december 31 , 2016 , unrecognized compensation expense related to performance units totaled $ 10 million . such unrecognized expense will be amortized on a straight-line basis over a weighted average period of 3.0 years . pension plans . eog has a defined contribution pension plan in place for most of its employees in the united states . eog's contributions to the pension plan are based on various percentages of compensation and , in some instances , are based upon the amount of the employees' contributions . eog's total costs recognized for the plan were $ 34 million , $ 36 million and $ 41 million for 2016 , 2015 and 2014 , respectively . in addition , eog's trinidadian subsidiary maintains a contributory defined benefit pension plan and a matched savings plan . eog's united kingdom subsidiary maintains a pension plan which includes a non-contributory defined contribution pension plan and a matched defined contribution savings plan . these pension plans are available to most employees of the trinidadian and united kingdom subsidiaries . eog's combined contributions to these plans were $ 1 million , $ 1 million and $ 5 million for 2016 , 2015 and 2014 , respectively . for the trinidadian defined benefit pension plan , the benefit obligation , fair value of plan assets and accrued benefit cost totaled $ 8 million , $ 7 million and $ 0.3 million , respectively , at december 31 , 2016 , and $ 9 million , $ 7 million and $ 0.2 million , respectively , at december 31 , 2015 . in connection with the divestiture of substantially all of its canadian assets in the fourth quarter of 2014 , eog has elected to terminate the canadian non-contributory defined benefit pension plan . postretirement health care . eog has postretirement medical and dental benefits in place for eligible united states and trinidad employees and their eligible dependents , the costs of which are not material . 8 . commitments and contingencies letters of credit and guarantees . at december 31 , 2016 and 2015 , respectively , eog had standby letters of credit and guarantees outstanding totaling approximately $ 226 million and $ 272 million , primarily representing guarantees of payment or performance obligations on behalf of subsidiaries . as of february 20 , 2017 , there were no demands for payment under these guarantees. .
Question: considering the years 2014-2016 , what is the average expected volatility?
Answer: | 0.31337 |
FINQA4215 | Please answer the given financial question based on the context.
Context: entergy mississippi , inc . management 2019s financial discussion and analysis entergy mississippi 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. .
|2016|2015|2014|2013|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 10595|$ 25930|$ 644|( $ 3536 )|
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 2017 . no borrowings were outstanding under the credit facilities as of december 31 , 2016 . in addition , entergy mississippi is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations under miso . as of december 31 , 2016 , a $ 7.1 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 2017 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 . 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 june 2014 , entergy mississippi filed its first general rate case before the mpsc in almost 12 years . the rate filing laid out entergy mississippi 2019s plans for improving reliability , modernizing the grid , maintaining its workforce , stabilizing rates , utilizing new technologies , and attracting new industry to its service territory . entergy mississippi requested a net increase in revenue of $ 49 million for bills rendered during calendar year 2015 , including $ 30 million resulting from new depreciation rates to update the estimated service life of assets . in addition , the filing proposed , among other things : 1 ) realigning cost recovery of the attala and hinds power plant acquisitions from the power management rider to base rates ; 2 ) including certain miso-related revenues and expenses in the power management rider ; 3 ) power management rider changes that reflect the changes in costs and revenues that will accompany entergy mississippi 2019s withdrawal from participation in the system agreement ; and 4 ) a formula rate plan forward test year to allow for known changes in expenses and revenues for the rate effective period . entergy mississippi proposed maintaining the current authorized return on common equity of 10.59% ( 10.59 % ) . in october 2014 , entergy mississippi and the mississippi public utilities staff entered into and filed joint stipulations that addressed the majority of issues in the proceeding . the stipulations provided for : 2022 an approximate $ 16 million net increase in revenues , which reflected an agreed upon 10.07% ( 10.07 % ) return on common equity ; 2022 revision of entergy mississippi 2019s formula rate plan by providing entergy mississippi with the ability to reflect known and measurable changes to historical rate base and certain expense amounts ; resolving uncertainty around and obviating the need for an additional rate filing in connection with entergy mississippi 2019s withdrawal from participation in the system agreement ; updating depreciation rates ; and moving costs associated with the attala and hinds generating plants from the power management rider to base rates; .
Question: the company has four separate credit facilities expiring in may 2017 . what was the average amount in millions of those four facilties?
Answer: | 25.625 |
FINQA4216 | Please answer the given financial question based on the context.
Context: eog resources , inc . supplemental information to consolidated financial statements ( continued ) net proved undeveloped reserves . the following table presents the changes in eog's total proved undeveloped reserves during 2017 , 2016 and 2015 ( in mboe ) : .
||2017|2016|2015|
|balance at january 1|1053027|1045640|1149309|
|extensions and discoveries|237378|138101|205152|
|revisions|33127|64413|-241973 ( 241973 )|
|acquisition of reserves|2014|2014|54458|
|sale of reserves|-8253 ( 8253 )|-45917 ( 45917 )|2014|
|conversion to proved developed reserves|-152644 ( 152644 )|-149210 ( 149210 )|-121306 ( 121306 )|
|balance at december 31|1162635|1053027|1045640|
for the twelve-month period ended december 31 , 2017 , total puds increased by 110 mmboe to 1163 mmboe . eog added approximately 38 mmboe of puds through drilling activities where the wells were drilled but significant expenditures remained for completion . based on the technology employed by eog to identify and record puds ( see discussion of technology employed on pages f-38 and f-39 of this annual report on form 10-k ) , eog added 199 mmboe . the pud additions were primarily in the permian basin and , to a lesser extent , the eagle ford and the rocky mountain area , and 74% ( 74 % ) of the additions were crude oil and condensate and ngls . during 2017 , eog drilled and transferred 153 mmboe of puds to proved developed reserves at a total capital cost of $ 1440 million . revisions of puds totaled positive 33 mmboe , primarily due to updated type curves resulting from improved performance of offsetting wells in the permian basin , the impact of increases in the average crude oil and natural gas prices used in the december 31 , 2017 , reserves estimation as compared to the prices used in the prior year estimate , and lower costs . during 2017 , eog sold or exchanged 8 mmboe of puds primarily in the permian basin . all puds , including drilled but uncompleted wells ( ducs ) , are scheduled for completion within five years of the original reserve booking . for the twelve-month period ended december 31 , 2016 , total puds increased by 7 mmboe to 1053 mmboe . eog added approximately 21 mmboe of puds through drilling activities where the wells were drilled but significant expenditures remained for completion . based on the technology employed by eog to identify and record puds , eog added 117 mmboe . the pud additions were primarily in the permian basin and , to a lesser extent , the rocky mountain area , and 82% ( 82 % ) of the additions were crude oil and condensate and ngls . during 2016 , eog drilled and transferred 149 mmboe of puds to proved developed reserves at a total capital cost of $ 1230 million . revisions of puds totaled positive 64 mmboe , primarily due to improved well performance , primarily in the delaware basin , and lower production costs , partially offset by the impact of decreases in the average crude oil and natural gas prices used in the december 31 , 2016 , reserves estimation as compared to the prices used in the prior year estimate . during 2016 , eog sold 46 mmboe of puds primarily in the haynesville play . all puds for drilled but uncompleted wells ( ducs ) are scheduled for completion within five years of the original reserve booking . for the twelve-month period ended december 31 , 2015 , total puds decreased by 104 mmboe to 1046 mmboe . eog added approximately 52 mmboe of puds through drilling activities where the wells were drilled but significant expenditures remained for completion . based on the technology employed by eog to identify and record puds , eog added 153 mmboe . the pud additions were primarily in the permian basin and , to a lesser extent , the eagle ford and the rocky mountain area , and 80% ( 80 % ) of the additions were crude oil and condensate and ngls . during 2015 , eog drilled and transferred 121 mmboe of puds to proved developed reserves at a total capital cost of $ 2349 million . revisions of puds totaled negative 242 mmboe , primarily due to decreases in the average crude oil and natural gas prices used in the december 31 , 2015 , reserves estimation as compared to the prices used in the prior year estimate . during 2015 , eog did not sell any puds and acquired 54 mmboe of puds. .
Question: considering the twelve months ended december 31 , 2017 , what was the percentual increase observed in total puds?
Answer: | 9.57273 |
FINQA4217 | Please answer the given financial question based on the context.
Context: concentration of credit risk credit risk represents the accounting loss that would be recognized at the reporting date if counterparties failed to perform as contracted . the company believes the likelihood of incurring material losses due to concentration of credit risk is remote . the principal financial instruments subject to credit risk are as follows : cash and cash equivalents - the company maintains cash deposits with major banks , which from time to time may exceed insured limits . the possibility of loss related to financial condition of major banks has been deemed minimal . additionally , the company 2019s investment policy limits exposure to concentrations of credit risk and changes in market conditions . accounts receivable - a large number of customers in diverse industries and geographies , as well as the practice of establishing reasonable credit lines , limits credit risk . based on historical trends and experiences , the allowance for doubtful accounts is adequate to cover potential credit risk losses . foreign currency and interest rate contracts and derivatives - exposure to credit risk is limited by internal policies and active monitoring of counterparty risks . in addition , the company uses a diversified group of major international banks and financial institutions as counterparties . the company does not anticipate nonperformance by any of these counterparties . cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased . accounts receivable and allowance for doubtful accounts accounts receivable are carried at their face amounts less an allowance for doubtful accounts . accounts receivable are recorded at the invoiced amount and generally do not bear interest . the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates . the company 2019s estimates include separately providing for customer balances based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible . account balances are charged off against the allowance when it is determined the receivable will not be recovered . the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 15 million as of december 31 , 2015 and 2014 and $ 14 million as of december 31 , 2013 . returns and credit activity is recorded directly to sales . the following table summarizes the activity in the allowance for doubtful accounts: .
|( millions )|2015|2014|2013|
|beginning balance|$ 77|$ 81|$ 73|
|bad debt expense|26|23|28|
|write-offs|-22 ( 22 )|-20 ( 20 )|-21 ( 21 )|
|other ( a )|-6 ( 6 )|-7 ( 7 )|1|
|ending balance|$ 75|$ 77|$ 81|
( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits . inventory valuations inventories are valued at the lower of cost or market . certain u.s . inventory costs are determined on a last-in , first-out ( lifo ) basis . lifo inventories represented 39% ( 39 % ) and 37% ( 37 % ) of consolidated inventories as of december 31 , 2015 and 2014 , respectively . lifo inventories include certain legacy nalco u.s . inventory acquired at fair value as part of the nalco merger . all other inventory costs are determined using either the average cost or first-in , first-out ( fifo ) methods . inventory values at fifo , as shown in note 5 , approximate replacement during the fourth quarter of 2015 , the company improved estimates related to its inventory reserves and product costing , resulting in a net pre-tax charge of approximately $ 6 million . separately , the actions resulted in charge of $ 20.6 million related to inventory reserve calculations , partially offset by a gain of $ 14.5 million related to the capitalization of certain cost components into inventory . both of these items are reflected in note 3. .
Question: what is the net change in the balance of allowance for doubtful accounts during 2015?
Answer: | -2.0 |
FINQA4218 | Please answer the given financial question based on the context.
Context: stock performance graph : the graph below shows the cumulative total shareholder return assuming the investment of $ 100 , on december 31 , 2012 , and the reinvestment of dividends thereafter , if any , in the company 2019s common stock versus the standard and poor 2019s s&p 500 retail index ( 201cs&p 500 retail index 201d ) and the standard and poor 2019s s&p 500 index ( 201cs&p 500 201d ) . .
|company/index|december 31 , 2012|december 31 , 2013|december 31 , 2014|december 31 , 2015|december 31 , 2016|december 31 , 2017|
|o 2019reilly automotive inc .|$ 100|$ 144|$ 215|$ 283|$ 311|$ 269|
|s&p 500 retail index|100|144|158|197|206|265|
|s&p 500|$ 100|$ 130|$ 144|$ 143|$ 157|$ 187|
.
Question: what is the roi of an investment in s&p500 from 2016 to 2017?
Answer: | 0.19108 |
FINQA4219 | Please answer the given financial question based on the context.
Context: entergy texas , inc . management's financial discussion and analysis dividends or other distributions on its common stock . currently , all of entergy texas' retained earnings are available for distribution . sources of capital entergy texas' sources to meet its capital requirements include : internally generated funds ; cash on hand ; debt or preferred stock issuances ; and bank financing under new or existing facilities . entergy texas may refinance or redeem debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable . all debt and common and preferred stock issuances by entergy texas require prior regulatory approval . preferred stock and debt issuances are also subject to issuance tests set forth in its corporate charter , bond indentures , and other agreements . entergy texas has sufficient capacity under these tests to meet its foreseeable capital needs . entergy gulf states , inc . filed with the ferc an application , on behalf of entergy texas , for authority to issue up to $ 200 million of short-term debt , up to $ 300 million of tax-exempt bonds , and up to $ 1.3 billion of other long- term securities , including common and preferred or preference stock and long-term debt . on november 8 , 2007 , the ferc issued orders granting the requested authority for a two-year period ending november 8 , 2009 . entergy texas' receivables from or ( payables to ) 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 )|
|( $ 50794 )|$ 154176|$ 97277|$ 136545|
see note 4 to the financial statements for a description of the money pool . entergy texas has a credit facility in the amount of $ 100 million scheduled to expire in august 2012 . as of december 31 , 2008 , $ 100 million was outstanding on the credit facility . in february 2009 , entergy texas repaid its credit facility with the proceeds from the bond issuance discussed below . on june 2 , 2008 and december 8 , 2008 , under the terms of the debt assumption agreement between entergy texas and entergy gulf states louisiana that is discussed in note 5 to the financial statements , entergy texas paid at maturity $ 148.8 million and $ 160.3 million , respectively , of entergy gulf states louisiana first mortgage bonds , which results in a corresponding decrease in entergy texas' debt assumption liability . in december 2008 , entergy texas borrowed $ 160 million from its parent company , entergy corporation , under a $ 300 million revolving credit facility pursuant to an inter-company credit agreement between entergy corporation and entergy texas . this borrowing would have matured on december 3 , 2013 . entergy texas used these borrowings , together with other available corporate funds , to pay at maturity the portion of the $ 350 million floating rate series of first mortgage bonds due december 2008 that had been assumed by entergy texas , and that bond series is no longer outstanding . in january 2009 , entergy texas repaid its $ 160 million note payable to entergy corporation with the proceeds from the bond issuance discussed below . in january 2009 , entergy texas issued $ 500 million of 7.125% ( 7.125 % ) series mortgage bonds due february 2019 . entergy texas used a portion of the proceeds to repay its $ 160 million note payable to entergy corporation , to repay the $ 100 million outstanding on its credit facility , and to repay short-term borrowings under the entergy system money pool . entergy texas intends to use the remaining proceeds to repay on or prior to maturity approximately $ 70 million of obligations that had been assumed by entergy texas under the debt assumption agreement with entergy gulf states louisiana and for other general corporate purposes. .
Question: how much of entergy gulf states louisiana first mortgage bonds , in millions of dollars , were paid by entergy texas in total?
Answer: | 309.1 |
FINQA4220 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries notes to financial statements in november 2000 , entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction . entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing . these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) . in accordance with the purchase agreement with nypa , the purchase of indian point 2 in 2001 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 . this liability was recorded upon the purchase of indian point 2 in september 2001 , and is included in the note payable to nypa balance above . in july 2003 , a payment of $ 102 million was made prior to maturity on the note payable to nypa . under a provision in a letter of credit supporting these notes , if certain of the utility operating companies or system energy were to default on other indebtedness , entergy could be required to post collateral to support the letter of credit . covenants in the entergy corporation notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization . if entergy's debt ratio exceeds this limit , or if entergy corporation or certain of the utility operating companies default on other indebtedness or are in bankruptcy or insolvency proceedings , an acceleration of the notes' maturity dates may occur . entergy gulf states louisiana , entergy louisiana , entergy mississippi , entergy texas , and system energy have received ferc long-term financing orders authorizing long-term securities issuances . entergy arkansas has received an apsc long-term financing order authorizing long-term securities issuances . the long-term securities issuances of entergy new orleans are limited to amounts authorized by the city council , and the current authorization extends through august 2010 . capital funds agreement pursuant to an agreement with certain creditors , entergy corporation has agreed to supply system energy with sufficient capital to : maintain system energy's equity capital at a minimum of 35% ( 35 % ) of its total capitalization ( excluding short- term debt ) ; permit the continued commercial operation of grand gulf ; pay in full all system energy indebtedness for borrowed money when due ; and enable system energy to make payments on specific system energy debt , under supplements to the agreement assigning system energy's rights in the agreement as security for the specific debt . entergy texas securitization bonds - hurricane rita in april 2007 , the puct issued a financing order authorizing the issuance of securitization bonds to recover $ 353 million of entergy texas' hurricane rita reconstruction costs and up to $ 6 million of transaction costs , offset by $ 32 million of related deferred income tax benefits . in june 2007 , entergy gulf states reconstruction funding i , llc , a company wholly-owned and consolidated by entergy texas , issued $ 329.5 million of senior secured transition bonds ( securitization bonds ) , as follows : amount ( in thousands ) .
||amount ( in thousands )|
|senior secured transition bonds series a:||
|tranche a-1 ( 5.51% ( 5.51 % ) ) due october 2013|$ 93500|
|tranche a-2 ( 5.79% ( 5.79 % ) ) due october 2018|121600|
|tranche a-3 ( 5.93% ( 5.93 % ) ) due june 2022|114400|
|total senior secured transition bonds|$ 329500|
.
Question: what was the sum of the notes issued by entergy to nypa
Answer: | 143.0 |
FINQA4221 | Please answer the given financial question based on the context.
Context: 18 . allowance for credit losses .
|in millions of dollars|2009|2008 ( 1 )|2007 ( 1 )|
|allowance for loan losses at beginning of year|$ 29616|$ 16117|$ 8940|
|gross credit losses|-32784 ( 32784 )|-20760 ( 20760 )|-11864 ( 11864 )|
|gross recoveries|2043|1749|1938|
|net credit ( losses ) recoveries ( ncls )|$ -30741 ( 30741 )|$ -19011 ( 19011 )|$ -9926 ( 9926 )|
|ncls|$ 30741|$ 19011|$ 9926|
|net reserve builds ( releases )|5741|11297|6550|
|net specific reserve builds ( releases )|2278|3366|356|
|total provision for credit losses|$ 38760|$ 33674|$ 16832|
|other net ( 2 )|-1602 ( 1602 )|-1164 ( 1164 )|271|
|allowance for loan losses at end of year|$ 36033|$ 29616|$ 16117|
|allowance for credit losses on unfunded lending commitments at beginning of year ( 3 )|$ 887|$ 1250|$ 1100|
|provision for unfunded lending commitments|244|-363 ( 363 )|150|
|allowance for credit losses on unfunded lending commitments at end of year ( 3 )|$ 1157|$ 887|$ 1250|
|total allowance for loans leases and unfunded lending commitments|$ 37190|$ 30503|$ 17367|
( 1 ) reclassified to conform to the current period 2019s presentation . ( 2 ) 2009 primarily includes reductions to the loan loss reserve of approximately $ 543 million related to securitizations , approximately $ 402 million related to the sale or transfers to held-for-sale of u.s . real estate lending loans , and $ 562 million related to the transfer of the u.k . cards portfolio to held-for-sale . 2008 primarily includes reductions to the loan loss reserve of approximately $ 800 million related to fx translation , $ 102 million related to securitizations , $ 244 million for the sale of the german retail banking operation , $ 156 million for the sale of citicapital , partially offset by additions of $ 106 million related to the cuscatl e1n and bank of overseas chinese acquisitions . 2007 primarily includes reductions to the loan loss reserve of $ 475 million related to securitizations and transfers to loans held-for-sale , and reductions of $ 83 million related to the transfer of the u.k . citifinancial portfolio to held-for-sale , offset by additions of $ 610 million related to the acquisitions of egg , nikko cordial , grupo cuscatl e1n and grupo financiero uno . ( 3 ) represents additional credit loss reserves for unfunded corporate lending commitments and letters of credit recorded in other liabilities on the consolidated balance sheet. .
Question: what was the percentage change in the allowance for loan losses from 2007 to 2008?
Answer: | 0.8028 |
FINQA4222 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis investing & lending investing & lending includes our investing activities and the origination of loans to provide financing to clients . these investments and loans are typically longer-term in nature . we make investments , some of which are consolidated , directly and indirectly through funds and separate accounts that we manage , in debt securities and loans , public and private equity securities , and real estate entities . the table below presents the operating results of our investing & lending segment. .
|$ in millions|year ended december 2015|year ended december 2014|year ended december 2013|
|equity securities|$ 3781|$ 4579|$ 4974|
|debt securities and loans|1655|2246|2044|
|total net revenues1|5436|6825|7018|
|operating expenses|2402|2819|2686|
|pre-tax earnings|$ 3034|$ 4006|$ 4332|
1 . net revenues related to our consolidated investments , previously reported in other net revenues within investing & lending , are now reported in equity securities and debt securities and loans , as results from these activities ( $ 391 million for 2015 ) are no longer significant principally due to the sale of metro in the fourth quarter of 2014 . reclassifications have been made to previously reported amounts to conform to the current presentation . 2015 versus 2014 . net revenues in investing & lending were $ 5.44 billion for 2015 , 20% ( 20 % ) lower than 2014 . this decrease was primarily due to lower net revenues from investments in equities , principally reflecting the sale of metro in the fourth quarter of 2014 and lower net gains from investments in private equities , driven by corporate performance . in addition , net revenues in debt securities and loans were significantly lower , reflecting lower net gains from investments . although net revenues in investing & lending for 2015 benefited from favorable company-specific events , including sales , initial public offerings and financings , a decline in global equity prices and widening high-yield credit spreads during the second half of the year impacted results . concern about the outlook for the global economy continues to be a meaningful consideration for the global marketplace . if equity markets continue to decline or credit spreads widen further , net revenues in investing & lending would likely continue to be negatively impacted . operating expenses were $ 2.40 billion for 2015 , 15% ( 15 % ) lower than 2014 , due to lower depreciation and amortization expenses , primarily reflecting lower impairment charges related to consolidated investments , and a reduction in expenses related to the sale of metro in the fourth quarter of 2014 . pre-tax earnings were $ 3.03 billion in 2015 , 24% ( 24 % ) lower than 2014 . 2014 versus 2013 . net revenues in investing & lending were $ 6.83 billion for 2014 , 3% ( 3 % ) lower than 2013 . net revenues from investments in equity securities were lower due to a significant decrease in net gains from investments in public equities , as movements in global equity prices during 2014 were less favorable compared with 2013 , as well as significantly lower net revenues related to our consolidated investments , reflecting a decrease in operating revenues from commodities-related consolidated investments . these decreases were partially offset by an increase in net gains from investments in private equities , primarily driven by company-specific events . net revenues from debt securities and loans were higher than 2013 , reflecting a significant increase in net interest income , primarily driven by increased lending , and a slight increase in net gains , primarily due to sales of certain investments during 2014 . during 2014 , net revenues in investing & lending generally reflected favorable company-specific events , including initial public offerings and financings , and strong corporate performance , as well as net gains from sales of certain investments . operating expenses were $ 2.82 billion for 2014 , 5% ( 5 % ) higher than 2013 , reflecting higher compensation and benefits expenses , partially offset by lower expenses related to consolidated investments . pre-tax earnings were $ 4.01 billion in 2014 , 8% ( 8 % ) lower than 2013 . 64 goldman sachs 2015 form 10-k .
Question: what percentage of total net revenues in the investing & lending segment is attributable to equity securities in 2015?
Answer: | 0.69555 |
FINQA4223 | Please answer the given financial question based on the context.
Context: altria group , inc . and subsidiaries notes to consolidated financial statements _________________________ may not be obtainable in all cases . this risk has been substantially reduced given that 47 states and puerto rico limit the dollar amount of bonds or require no bond at all . as discussed below , however , tobacco litigation plaintiffs have challenged the constitutionality of florida 2019s bond cap statute in several cases and plaintiffs may challenge state bond cap statutes in other jurisdictions as well . such challenges may include the applicability of state bond caps in federal court . states , including florida , may also seek to repeal or alter bond cap statutes through legislation . although altria group , inc . cannot predict the outcome of such challenges , it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome of one or more such challenges . altria group , inc . and its subsidiaries record provisions in the consolidated financial statements for pending litigation when they determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated . at the present time , while it is reasonably possible that an unfavorable outcome in a case may occur , except to the extent discussed elsewhere in this note 19 . contingencies : ( i ) management has concluded that it is not probable that a loss has been incurred in any of the pending tobacco-related cases ; ( ii ) management is unable to estimate the possible loss or range of loss that could result from an unfavorable outcome in any of the pending tobacco-related cases ; and ( iii ) accordingly , management has not provided any amounts in the consolidated financial statements for unfavorable outcomes , if any . litigation defense costs are expensed as incurred . altria group , inc . and its subsidiaries have achieved substantial success in managing litigation . nevertheless , litigation is subject to uncertainty and significant challenges remain . it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation . altria group , inc . and each of its subsidiaries named as a defendant believe , and each has been so advised by counsel handling the respective cases , that it has valid defenses to the litigation pending against it , as well as valid bases for appeal of adverse verdicts . each of the companies has defended , and will continue to defend , vigorously against litigation challenges . however , altria group , inc . and its subsidiaries may enter into settlement discussions in particular cases if they believe it is in the best interests of altria group , inc . to do so . overview of altria group , inc . and/or pm usa tobacco- related litigation types and number of cases : claims related to tobacco products generally fall within the following categories : ( i ) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs ; ( ii ) smoking and health cases primarily alleging personal injury or seeking court-supervised programs for ongoing medical monitoring and purporting to be brought on behalf of a class of individual plaintiffs , including cases in which the aggregated claims of a number of individual plaintiffs are to be tried in a single proceeding ; ( iii ) health care cost recovery cases brought by governmental ( both domestic and foreign ) plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits ; ( iv ) class action suits alleging that the uses of the terms 201clights 201d and 201cultra lights 201d constitute deceptive and unfair trade practices , common law or statutory fraud , unjust enrichment , breach of warranty or violations of the racketeer influenced and corrupt organizations act ( 201crico 201d ) ; and ( v ) other tobacco-related litigation described below . plaintiffs 2019 theories of recovery and the defenses raised in pending smoking and health , health care cost recovery and 201clights/ultra lights 201d cases are discussed below . the table below lists the number of certain tobacco-related cases pending in the united states against pm usa ( 1 ) and , in some instances , altria group , inc . as of december 31 , 2016 , 2015 and 2014: .
||2016|2015|2014|
|individual smoking and health cases ( 2 )|70|65|67|
|smoking and health class actions and aggregated claims litigation ( 3 )|5|5|5|
|health care cost recovery actions ( 4 )|1|1|1|
|201clights/ultra lights 201d class actions|8|11|12|
( 1 ) does not include 25 cases filed on the asbestos docket in the circuit court for baltimore city , maryland , which seek to join pm usa and other cigarette- manufacturing defendants in complaints previously filed against asbestos companies . ( 2 ) does not include 2485 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke ( 201cets 201d ) . the flight attendants allege that they are members of an ets smoking and health class action in florida , which was settled in 1997 ( broin ) . the terms of the court-approved settlement in that case allowed class members to file individual lawsuits seeking compensatory damages , but prohibited them from seeking punitive damages . also , does not include individual smoking and health cases brought by or on behalf of plaintiffs in florida state and federal courts following the decertification of the engle case ( discussed below in smoking and health litigation - engle class action ) . ( 3 ) includes as one case the 600 civil actions ( of which 344 were actions against pm usa ) that were to be tried in a single proceeding in west virginia ( in re : tobacco litigation ) . the west virginia supreme court of appeals ruled that the united states constitution did not preclude a trial in two phases in this case . issues related to defendants 2019 conduct and whether punitive damages are permissible were tried in the first phase . trial in the first phase of this case began in april 2013 . in may 2013 , the jury returned a verdict in favor of defendants on the claims for design defect , negligence , failure to warn , breach of warranty , and concealment and declined to find that the defendants 2019 conduct warranted punitive damages . plaintiffs prevailed on their claim that ventilated filter cigarettes should have included use instructions for the period 1964 - 1969 . the second phase will consist of trials to determine liability and compensatory damages . in november 2014 , the west virginia supreme court of appeals affirmed the final judgment . in july 2015 , the trial court entered an order that will result in the entry of final judgment in favor of defendants and against all but 30 plaintiffs who potentially have a claim against one or more defendants that may be pursued in a second phase of trial . the court intends to try the claims of these 30 plaintiffs in six consolidated trials , each with a group of five plaintiffs . the first trial is currently scheduled to begin may 1 , 2018 . dates for the five remaining consolidated trials have not been scheduled . ( 4 ) see health care cost recovery litigation - federal government 2019s lawsuit below. .
Question: how many total cases are pending as of 12/31/16?
Answer: | 84.0 |
FINQA4224 | Please answer the given financial question based on the context.
Context: issuer purchases of equity securities the following table provides information about purchases by us during the three months ended december 31 , 2013 of equity securities that are registered by us pursuant to section 12 of the exchange act : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs ( 1 ) ( 2 ) dollar value of shares that may yet be purchased under the plans or programs ( 1 ) .
|period|total number of shares purchased ( 1 )|average price paid per share|total number of shares purchased as part of publicly announcedplans or programs ( 1 ) ( 2 )|dollar value of shares that may yet be purchased under the plans orprograms ( 1 )|
|october 2013|0|$ 0|0|$ 781118739|
|november 2013|1191867|98.18|1191867|664123417|
|december 2013|802930|104.10|802930|580555202|
|total|1994797|$ 100.56|1994797||
( 1 ) as announced on may 1 , 2013 , in april 2013 , the board of directors replaced its previously approved share repurchase authorization of up to $ 1 billion with a current authorization for repurchases of up to $ 1 billion of our common shares exclusive of shares repurchased in connection with employee stock plans , expiring on june 30 , 2015 . under the current share repurchase authorization , shares may be purchased from time to time at prevailing prices in the open market , by block purchases , or in privately-negotiated transactions , subject to certain regulatory restrictions on volume , pricing , and timing . as of february 1 , 2014 , the remaining authorized amount under the current authorization totaled approximately $ 580 million . ( 2 ) excludes 0.1 million shares repurchased in connection with employee stock plans. .
Question: what was the percent of the total number of shares purchased ( 1 ) in november 2013 to the total
Answer: | 0.59749 |
FINQA4225 | Please answer the given financial question based on the context.
Context: royal caribbean cruises ltd . 15 from two to 17 nights throughout south america , the caribbean and europe . additionally , we announced that majesty of the seas will be redeployed from royal caribbean international to pullmantur in 2016 . pullmantur serves the contemporary segment of the spanish , portuguese and latin american cruise mar- kets . pullmantur 2019s strategy is to attract cruise guests from these target markets by providing a variety of cruising options and onboard activities directed at couples and families traveling with children . over the last few years , pullmantur has systematically increased its focus on latin america and has expanded its pres- ence in that market . in order to facilitate pullmantur 2019s ability to focus on its core cruise business , on march 31 , 2014 , pullmantur sold the majority of its interest in its non-core busi- nesses . these non-core businesses included pullmantur 2019s land-based tour operations , travel agency and 49% ( 49 % ) interest in its air business . in connection with the sale agreement , we retained a 19% ( 19 % ) interest in each of the non-core businesses as well as 100% ( 100 % ) ownership of the aircraft which are being dry leased to pullmantur air . see note 1 . general and note 6 . other assets to our consolidated financial statements under item 8 . financial statements and supplementary data for further details . cdf croisi e8res de france we currently operate two ships with an aggregate capacity of approximately 2800 berths under our cdf croisi e8res de france brand . cdf croisi e8res de france offers seasonal itineraries to the mediterranean , europe and caribbean . during the winter season , zenith is deployed to the pullmantur brand for sailings in south america . cdf croisi e8res de france is designed to serve the contemporary segment of the french cruise market by providing a brand tailored for french cruise guests . tui cruises tui cruises is a joint venture owned 50% ( 50 % ) by us and 50% ( 50 % ) by tui ag , a german tourism and shipping com- pany , and is designed to serve the contemporary and premium segments of the german cruise market by offering a product tailored for german guests . all onboard activities , services , shore excursions and menu offerings are designed to suit the preferences of this target market . tui cruises operates three ships , mein schiff 1 , mein schiff 2 and mein schiff 3 , with an aggregate capacity of approximately 6300 berths . in addition , tui cruises currently has three newbuild ships on order at the finnish meyer turku yard with an aggregate capacity of approximately 7500 berths : mein schiff 4 , scheduled for delivery in the second quarter of 2015 , mein schiff 5 , scheduled for delivery in the third quarter of 2016 and mein schiff 6 , scheduled for delivery in the second quarter of 2017 . in november 2014 , we formed a strategic partnership with ctrip.com international ltd . ( 201cctrip 201d ) , a chinese travel service provider , to operate a new cruise brand known as skysea cruises . skysea cruises will offer a custom-tailored product for chinese cruise guests operating the ship purchased from celebrity cruises . the new cruise line will begin service in the second quarter of 2015 . we and ctrip each own 35% ( 35 % ) of the new company , skysea holding , with the balance being owned by skysea holding management and a private equity fund . industry cruising is considered a well-established vacation sector in the north american market , a growing sec- tor over the long term in the european market and a developing but promising sector in several other emerging markets . industry data indicates that market penetration rates are still low and that a significant portion of cruise guests carried are first-time cruisers . we believe this presents an opportunity for long-term growth and a potential for increased profitability . the following table details market penetration rates for north america and europe computed based on the number of annual cruise guests as a percentage of the total population : america ( 1 ) europe ( 2 ) .
|year|north america ( 1 )|europe ( 2 )|
|2010|3.1% ( 3.1 % )|1.1% ( 1.1 % )|
|2011|3.4% ( 3.4 % )|1.1% ( 1.1 % )|
|2012|3.3% ( 3.3 % )|1.2% ( 1.2 % )|
|2013|3.4% ( 3.4 % )|1.2% ( 1.2 % )|
|2014|3.5% ( 3.5 % )|1.3% ( 1.3 % )|
( 1 ) source : our estimates are based on a combination of data obtained from publicly available sources including the interna- tional monetary fund and cruise lines international association ( 201cclia 201d ) . rates are based on cruise guests carried for at least two consecutive nights . includes the united states of america and canada . ( 2 ) source : our estimates are based on a combination of data obtained from publicly available sources including the interna- tional monetary fund and clia europe , formerly european cruise council . we estimate that the global cruise fleet was served by approximately 457000 berths on approximately 283 ships at the end of 2014 . there are approximately 33 ships with an estimated 98650 berths that are expected to be placed in service in the global cruise market between 2015 and 2019 , although it is also possible that ships could be ordered or taken out of service during these periods . we estimate that the global cruise industry carried 22.0 million cruise guests in 2014 compared to 21.3 million cruise guests carried in 2013 and 20.9 million cruise guests carried in 2012 . part i .
Question: what was the percentage increase in the cruise guests from 2013 to 2014
Answer: | 0.03286 |
FINQA4226 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries notes to financial statements ( a ) consists of pollution control revenue bonds and environmental revenue bonds , some of which are secured by collateral first mortgage bonds . ( b ) these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) . ( c ) pursuant to the nuclear waste policy act of 1982 , entergy 2019s nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service . the contracts include a one-time fee for generation prior to april 7 , 1983 . entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee , plus accrued interest , in long-term debt . ( d ) see note 10 to the financial statements for further discussion of the waterford 3 lease obligation and entergy louisiana 2019s acquisition of the equity participant 2019s beneficial interest in the waterford 3 leased assets and for further discussion of the grand gulf lease obligation . ( e ) this note does not have a stated interest rate , but has an implicit interest rate of 7.458% ( 7.458 % ) . ( f ) the fair value excludes lease obligations of $ 57 million at entergy louisiana and $ 34 million at system energy , and long-term doe obligations of $ 182 million at entergy arkansas , and includes debt due within one year . fair values are classified as level 2 in the fair value hierarchy discussed in note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades . the annual long-term debt maturities ( excluding lease obligations and long-term doe obligations ) for debt outstanding as of december 31 , 2016 , for the next five years are as follows : amount ( in thousands ) .
||amount ( in thousands )|
|2017|$ 307403|
|2018|$ 828084|
|2019|$ 724899|
|2020|$ 795000|
|2021|$ 1674548|
in november 2000 , entergy 2019s non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction . as part of the purchase agreement with nypa , entergy recorded a liability representing the net present value of the payments entergy would be liable to nypa for each year that the fitzpatrick and indian point 3 power plants would run beyond their respective original nrc license expiration date . in october 2015 , entergy announced a planned shutdown of fitzpatrick at the end of its fuel cycle . as a result of the announcement , entergy reduced this liability by $ 26.4 million pursuant to the terms of the purchase agreement . in august 2016 , entergy entered into a trust transfer agreement with nypa to transfer the decommissioning trust funds and decommissioning liabilities for the indian point 3 and fitzpatrick plants to entergy . as part of the trust transfer agreement , the original decommissioning agreements were amended , and the entergy subsidiaries 2019 obligation to make additional license extension payments to nypa was eliminated . in the third quarter 2016 , entergy removed the note payable of $ 35.1 million from the consolidated balance sheet . entergy louisiana , entergy mississippi , entergy texas , and system energy have obtained long-term financing authorizations from the ferc that extend through october 2017 . entergy arkansas has obtained long-term financing authorization from the apsc that extends through december 2018 . entergy new orleans has obtained long-term financing authorization from the city council that extends through june 2018 . capital funds agreement pursuant to an agreement with certain creditors , entergy corporation has agreed to supply system energy with sufficient capital to : 2022 maintain system energy 2019s equity capital at a minimum of 35% ( 35 % ) of its total capitalization ( excluding short- term debt ) ; .
Question: what amount of long-term debt is due in the next 36 months for entergy corporation as of december 31 , 2016 , in millions?
Answer: | 1860.386 |
FINQA4227 | Please answer the given financial question based on the context.
Context: 2018 emerson annual report | 51 as of september 30 , 2018 , 1874750 shares awarded primarily in 2016 were outstanding , contingent on the company achieving its performance objectives through 2018 . the objectives for these shares were met at the 97 percent level at the end of 2018 and 1818508 shares will be distributed in early 2019 . additionally , the rights to receive a maximum of 2261700 and 2375313 common shares were awarded in 2018 and 2017 , respectively , under the new performance shares program , and are outstanding and contingent upon the company achieving its performance objectives through 2020 and 2019 , respectively . incentive shares plans also include restricted stock awards which involve distribution of common stock to key management employees subject to cliff vesting at the end of service periods ranging from three to ten years . the fair value of restricted stock awards is determined based on the average of the high and low market prices of the company 2019s common stock on the date of grant , with compensation expense recognized ratably over the applicable service period . in 2018 , 310000 shares of restricted stock vested as a result of participants fulfilling the applicable service requirements . consequently , 167837 shares were issued while 142163 shares were withheld for income taxes in accordance with minimum withholding requirements . as of september 30 , 2018 , there were 1276200 shares of unvested restricted stock outstanding . the total fair value of shares distributed under incentive shares plans was $ 20 , $ 245 and $ 11 , respectively , in 2018 , 2017 and 2016 , of which $ 9 , $ 101 and $ 4 was paid in cash , primarily for tax withholding . as of september 30 , 2018 , 10.3 million shares remained available for award under incentive shares plans . changes in shares outstanding but not yet earned under incentive shares plans during the year ended september 30 , 2018 follow ( shares in thousands ; assumes 100 percent payout of unvested awards ) : average grant date shares fair value per share .
||shares|average grant datefair value per share|
|beginning of year|4999|$ 50.33|
|granted|2295|$ 63.79|
|earned/vested|-310 ( 310 )|$ 51.27|
|canceled|-86 ( 86 )|$ 56.53|
|end of year|6898|$ 54.69|
total compensation expense for stock options and incentive shares was $ 216 , $ 115 and $ 159 for 2018 , 2017 and 2016 , respectively , of which $ 5 and $ 14 was included in discontinued operations for 2017 and 2016 , respectively . the increase in expense for 2018 reflects an increase in the company 2019s stock price and progress toward achieving its performance objectives . the decrease in expense for 2017 reflects the impact of changes in the stock price . income tax benefits recognized in the income statement for these compensation arrangements during 2018 , 2017 and 2016 were $ 42 , $ 33 and $ 45 , respectively . as of september 30 , 2018 , total unrecognized compensation expense related to unvested shares awarded under these plans was $ 182 , which is expected to be recognized over a weighted-average period of 1.1 years . in addition to the employee stock option and incentive shares plans , in 2018 the company awarded 12228 shares of restricted stock and 2038 restricted stock units under the restricted stock plan for non-management directors . as of september 30 , 2018 , 159965 shares were available for issuance under this plan . ( 16 ) common and preferred stock at september 30 , 2018 , 37.0 million shares of common stock were reserved for issuance under the company 2019s stock-based compensation plans . during 2018 , 15.1 million common shares were purchased and 2.6 million treasury shares were reissued . in 2017 , 6.6 million common shares were purchased and 5.5 million treasury shares were reissued . at september 30 , 2018 and 2017 , the company had 5.4 million shares of $ 2.50 par value preferred stock authorized , with none issued. .
Question: what was the percent change in average grant datefair value per share from the beginning of the year to the end of the year?
Answer: | 0.08663 |
FINQA4228 | Please answer the given financial question based on the context.
Context: the following is a schedule of future minimum rental payments required under long-term operating leases at october 29 , 2011 : fiscal years operating leases .
|fiscal years|operating leases|
|2012|$ 17590|
|2013|12724|
|2014|6951|
|2015|5649|
|2016|3669|
|later years|19472|
|total|$ 66055|
12 . commitments and contingencies from time to time in the ordinary course of the company 2019s business , various claims , charges and litigation are asserted or commenced against the company arising from , or related to , contractual matters , patents , trademarks , personal injury , environmental matters , product liability , insurance coverage and personnel and employment disputes . as to such claims and litigation , the company can give no assurance that it will prevail . the company does not believe that any current legal matters will have a material adverse effect on the company 2019s financial position , results of operations or cash flows . 13 . retirement plans the company and its subsidiaries have various savings and retirement plans covering substantially all employees . the company maintains a defined contribution plan for the benefit of its eligible u.s . employees . this plan provides for company contributions of up to 5% ( 5 % ) of each participant 2019s total eligible compensation . in addition , the company contributes an amount equal to each participant 2019s pre-tax contribution , if any , up to a maximum of 3% ( 3 % ) of each participant 2019s total eligible compensation . the total expense related to the defined contribution plan for u.s . employees was $ 21.9 million in fiscal 2011 , $ 20.5 million in fiscal 2010 and $ 21.5 million in fiscal 2009 . the company also has various defined benefit pension and other retirement plans for certain non-u.s . employees that are consistent with local statutory requirements and practices . the total expense related to the various defined benefit pension and other retirement plans for certain non-u.s . employees was $ 21.4 million in fiscal 2011 , $ 11.7 million in fiscal 2010 and $ 10.9 million in fiscal 2009 . non-u.s . plan disclosures the company 2019s funding policy for its foreign defined benefit pension plans is consistent with the local requirements of each country . the plans 2019 assets consist primarily of u.s . and non-u.s . equity securities , bonds , property and cash . the benefit obligations and related assets under these plans have been measured at october 29 , 2011 and october 30 , 2010 . analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what is the growth rate in the total expense related to the defined contribution plan for non-u.s.employees in 2011?
Answer: | 0.82906 |
FINQA4229 | Please answer the given financial question based on the context.
Context: note 12 derivative instruments and fair value measurements the company is exposed to certain market risks such as changes in interest rates , foreign currency exchange rates , and commodity prices , which exist as a part of its ongoing business operations . management uses derivative financial and commodity instruments , including futures , options , and swaps , where appropriate , to manage these risks . instruments used as hedges must be effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the contract . the company designates derivatives as cash flow hedges , fair value hedges , net investment hedges , and uses other contracts to reduce volatility in interest rates , foreign currency and commodities . as a matter of policy , the company does not engage in trading or speculative hedging transactions . total notional amounts of the company 2019s derivative instruments as of december 29 , 2012 and december 31 , 2011 were as follows: .
|( millions )|2012|2011|
|foreign currency exchange contracts|$ 570|$ 1265|
|interest rate contracts|2150|600|
|commodity contracts|136|175|
|total|$ 2856|$ 2040|
following is a description of each category in the fair value hierarchy and the financial assets and liabilities of the company that were included in each category at december 29 , 2012 and december 31 , 2011 , measured on a recurring basis . level 1 2014 financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market . for the company , level 1 financial assets and liabilities consist primarily of commodity derivative contracts . level 2 2014 financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability . for the company , level 2 financial assets and liabilities consist of interest rate swaps and over-the-counter commodity and currency contracts . the company 2019s calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve . over-the-counter commodity derivatives are valued using an income approach based on the commodity index prices less the contract rate multiplied by the notional amount . foreign currency contracts are valued using an income approach based on forward rates less the contract rate multiplied by the notional amount . the company 2019s calculation of the fair value of level 2 financial assets and liabilities takes into consideration the risk of nonperformance , including counterparty credit risk . level 3 2014 financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement . these inputs reflect management 2019s own assumptions about the assumptions a market participant would use in pricing the asset or liability . the company did not have any level 3 financial assets or liabilities as of december 29 , 2012 or december 31 , 2011 . the following table presents assets and liabilities that were measured at fair value in the consolidated balance sheet on a recurring basis as of december 29 , 2012 and december 31 , 2011 : derivatives designated as hedging instruments : 2012 2011 ( millions ) level 1 level 2 total level 1 level 2 total assets : foreign currency exchange contracts : other current assets $ 2014 $ 4 $ 4 $ 2014 $ 11 $ 11 interest rate contracts ( a ) : other assets 2014 64 64 2014 23 23 commodity contracts : other current assets 2014 2014 2014 2 2014 2 total assets $ 2014 $ 68 $ 68 $ 2 $ 34 $ 36 liabilities : foreign currency exchange contracts : other current liabilities $ 2014 $ ( 3 ) $ ( 3 ) $ 2014 $ ( 18 ) $ ( 18 ) commodity contracts : other current liabilities 2014 ( 11 ) ( 11 ) ( 4 ) ( 12 ) ( 16 ) other liabilities 2014 ( 27 ) ( 27 ) 2014 ( 34 ) ( 34 ) total liabilities $ 2014 $ ( 41 ) $ ( 41 ) $ ( 4 ) $ ( 64 ) $ ( 68 ) ( a ) the fair value of the related hedged portion of the company 2019s long-term debt , a level 2 liability , was $ 2.3 billion as of december 29 , 2012 and $ 626 million as of december 31 , derivatives not designated as hedging instruments : 2012 2011 ( millions ) level 1 level 2 total level 1 level 2 total assets : commodity contracts : other current assets $ 5 $ 2014 $ 5 $ 2014 $ 2014 $ 2014 total assets $ 5 $ 2014 $ 5 $ 2014 $ 2014 $ 2014 liabilities : commodity contracts : other current liabilities $ ( 3 ) $ 2014 $ ( 3 ) $ 2014 $ 2014 $ 2014 total liabilities $ ( 3 ) $ 2014 $ ( 3 ) $ 2014 $ 2014 $ 2014 .
Question: in 2012 , what percent of the total notional amount is from foreign currency exchange contracts?
Answer: | 0.19958 |
FINQA4230 | 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 , securities borrowed were what percent of securities loaned?
Answer: | 5.04694 |
FINQA4231 | Please answer the given financial question based on the context.
Context: the performance units granted to certain executives in fiscal 2014 were based on a one-year performance period . after the compensation committee certified the performance results , 25% ( 25 % ) of the performance units converted to unrestricted shares . the remaining 75% ( 75 % ) converted to restricted shares that vest in equal installments on each of the first three anniversaries of the conversion date . the performance units granted to certain executives during fiscal 2015 were based on a three-year performance period . after the compensation committee certifies the performance results for the three-year period , performance units earned will convert into unrestricted common stock . the compensation committee may set a range of possible performance-based outcomes for performance units . depending on the achievement of the performance measures , the grantee may earn up to 200% ( 200 % ) of the target number of shares . for awards with only performance conditions , we recognize compensation expense over the performance period using the grant date fair value of the award , which is based on the number of shares expected to be earned according to the level of achievement of performance goals . if the number of shares expected to be earned were to change at any time during the performance period , we would make a cumulative adjustment to share-based compensation expense based on the revised number of shares expected to be earned . 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 , 2015 and 2014 ( shares in thousands ) : shares weighted-average grant-date fair value .
||shares|weighted-averagegrant-datefair value|
|unvested at may 31 2013|1096|$ 44|
|granted|544|47|
|vested|-643 ( 643 )|45|
|forfeited|-120 ( 120 )|45|
|unvested at may 31 2014|877|45|
|granted|477|72|
|vested|-324 ( 324 )|46|
|forfeited|-106 ( 106 )|53|
|unvested at may 31 2015|924|$ 58|
global payments inc . | 2015 form 10-k annual report 2013 81 .
Question: what is the total value of the granted shares in 2014 , ( in thousands )
Answer: | 25568.0 |
FINQA4232 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements the valuation allowance increased from $ 47.8 million as of december 31 , 2009 to $ 48.2 million as of december 31 , 2010 . the increase was primarily due to valuation allowances on foreign loss carryforwards . at december 31 , 2010 , the company has provided a valuation allowance of approximately $ 48.2 million which primarily relates to state net operating loss carryforwards , equity investments and foreign items . the company has not provided a valuation allowance for the remaining deferred tax assets , primarily its federal net operating loss carryforwards , as management believes the company will have sufficient taxable income to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period . valuation allowances may be reversed if related deferred tax assets are deemed realizable based on changes in facts and circumstances relevant to the assets 2019 recoverability . the recoverability of the company 2019s remaining net deferred tax asset has been assessed utilizing projections based on its current operations . the projections show a significant decrease in depreciation in the later years of the carryforward period as a result of a significant portion of its assets being fully depreciated during the first fifteen years of the carryforward period . accordingly , the recoverability of the net deferred tax asset is not dependent on material improvements to operations , material asset sales or other non-routine transactions . based on its current outlook of future taxable income during the carryforward period , management believes that the net deferred tax asset will be realized . the company 2019s deferred tax assets as of december 31 , 2010 and 2009 in the table above do not include $ 122.1 million and $ 113.9 million , respectively , of excess tax benefits from the exercises of employee stock options that are a component of net operating losses . total stockholders 2019 equity as of december 31 , 2010 will be increased by $ 122.1 million if and when any such excess tax benefits are ultimately realized . at december 31 , 2010 , the company had net federal and state operating loss carryforwards available to reduce future federal and state taxable income of approximately $ 1.2 billion , including losses related to employee stock options of $ 0.3 billion . if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : .
|years ended december 31,|federal|state|foreign|
|2011 to 2015|$ 2014|$ 2014|$ 503|
|2016 to 2020|2014|331315|5509|
|2021 to 2025|774209|576780|2014|
|2026 to 2030|423398|279908|92412|
|total|$ 1197607|$ 1188003|$ 98424|
in addition , the company has mexican tax credits of $ 5.2 million which if not utilized would expire in 2017. .
Question: at december 31 , 2010 what was the percent of the total net operating loss carry forwards set to expire between 2021 and 2025
Answer: | 0.64646 |
FINQA4233 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) the estimated future benefit payments expected to be paid are presented below . domestic pension plan foreign pension plans domestic postretirement benefit plan .
|years|domesticpension plan|foreignpension plans|domestic postretirementbenefit plan|
|2019|$ 14.5|$ 21.7|$ 3.0|
|2020|8.8|18.7|2.8|
|2021|8.0|19.8|2.6|
|2022|8.3|20.9|2.4|
|2023|7.8|21.8|2.2|
|2024 - 2028|36.7|117.2|9.8|
the estimated future payments for our domestic postretirement benefit plan are net of any estimated u.s . federal subsidies expected to be received under the medicare prescription drug , improvement and modernization act of 2003 , which total no more than $ 0.3 in any individual year . savings plans we sponsor defined contribution plans ( the 201csavings plans 201d ) that cover substantially all domestic employees . the savings plans permit participants to make contributions on a pre-tax and/or after-tax basis and allow participants to choose among various investment alternatives . we match a portion of participant contributions based upon their years of service . amounts expensed for the savings plans for 2018 , 2017 and 2016 were $ 52.6 , $ 47.2 and $ 47.0 , respectively . expenses include a discretionary company contribution of $ 6.7 , $ 3.6 and $ 6.1 offset by participant forfeitures of $ 5.8 , $ 4.6 and $ 4.4 in 2018 , 2017 and 2016 , respectively . in addition , we maintain defined contribution plans in various foreign countries and contributed $ 51.3 , $ 47.4 and $ 44.5 to these plans in 2018 , 2017 and 2016 , respectively . deferred compensation and benefit arrangements we have deferred compensation and benefit arrangements which ( i ) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation or ( ii ) require us to contribute an amount to the participant 2019s account . these arrangements may provide participants with the amounts deferred plus interest upon attaining certain conditions , such as completing a certain number of years of service , attaining a certain age or upon retirement or termination . as of december 31 , 2018 and 2017 , the deferred compensation and deferred benefit liability balance was $ 196.2 and $ 213.2 , respectively . amounts expensed for deferred compensation and benefit arrangements in 2018 , 2017 and 2016 were $ 10.0 , $ 18.5 and $ 18.5 , respectively . we have purchased life insurance policies on participants 2019 lives to assist in the funding of the related deferred compensation and deferred benefit liabilities . as of december 31 , 2018 and 2017 , the cash surrender value of these policies was $ 177.3 and $ 177.4 , respectively . long-term disability plan we have a long-term disability plan which provides income replacement benefits to eligible participants who are unable to perform their job duties or any job related to his or her education , training or experience . as all income replacement benefits are fully insured , no related obligation is required as of december 31 , 2018 and 2017 . in addition to income replacement benefits , plan participants may remain covered for certain health and life insurance benefits up to normal retirement age , and accordingly , we have recorded an obligation of $ 5.9 and $ 8.4 as of december 31 , 2018 and 2017 , respectively. .
Question: which five year span , 2019-2023 or 2024-2028 , has a larger combined domestic pension plan?
Answer: | 10.7 |
FINQA4234 | Please answer the given financial question based on the context.
Context: in 2017 , the company granted 440076 shares of restricted class a common stock and 7568 shares of restricted stock units . restricted common stock and restricted stock units generally have a vesting period of two to four years . the fair value related to these grants was $ 58.7 million , which is recognized as compensation expense on an accelerated basis over the vesting period . dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests . in 2017 , the company also granted 203298 performance shares . the fair value related to these grants was $ 25.3 million , which is recognized as compensation expense on an accelerated and straight-lined basis over the vesting period . the vesting of these shares is contingent on meeting stated performance or market conditions . the following table summarizes restricted stock , restricted stock units , and performance shares activity for 2017 : number of shares weighted average grant date fair value .
||number of shares|weightedaveragegrant datefair value|
|outstanding at december 31 2016|1820578|$ 98|
|granted|650942|129|
|vested|-510590 ( 510590 )|87|
|cancelled|-401699 ( 401699 )|95|
|outstanding at december 31 2017|1559231|116|
the total fair value of restricted stock , restricted stock units , and performance shares that vested during 2017 , 2016 and 2015 was $ 66.0 million , $ 59.8 million and $ 43.3 million , respectively . under the espp , eligible employees may acquire shares of class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration . shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq global select market . compensation expense is recognized on the dates of purchase for the discount from the closing price . in 2017 , 2016 and 2015 , a total of 19936 , 19858 and 19756 shares , respectively , of class a common stock were issued to participating employees . these shares are subject to a six-month holding period . annual expense of $ 0.3 million for the purchase discount was recognized in 2017 , and $ 0.2 million was recognized in both 2016 and 2015 . non-executive directors receive an annual award of class a common stock with a value equal to $ 100000 . non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 60000 , in shares of stock based on the closing price at the date of distribution . as a result , 19736 shares , 26439 shares and 25853 shares of class a common stock were issued to non-executive directors during 2017 , 2016 and 2015 , respectively . these shares are not subject to any vesting restrictions . expense of $ 2.5 million , $ 2.4 million and $ 2.5 million related to these stock-based payments was recognized for the years ended december 31 , 2017 , 2016 and 2015 , respectively. .
Question: considering the class a common stocks , what is the percentage's increase of the number issued to participating employees in relation non-executive directors amidst 2016 and 2017?
Answer: | 0.3449 |
FINQA4235 | Please answer the given financial question based on the context.
Context: page 30 of 94 are included in capital spending amounts . another example is the company 2019s decision in 2007 to contribute an additional $ 44.5 million ( $ 27.3 million ) to its pension plans as part of its overall debt reduction plan . based on this , our consolidated free cash flow is summarized as follows: .
|( $ in millions )|2007|2006|2005|
|cash flows from operating activities|$ 673.0|$ 401.4|$ 558.8|
|incremental pension funding net of tax|27.3|2013|2013|
|capital spending|-308.5 ( 308.5 )|-279.6 ( 279.6 )|-291.7 ( 291.7 )|
|proceeds for replacement of fire-damaged assets|48.6|61.3|2013|
|free cash flow|$ 440.4|$ 183.1|$ 267.1|
based on information currently available , we estimate cash flows from operating activities for 2008 to be approximately $ 650 million , capital spending to be approximately $ 350 million and free cash flow to be in the $ 300 million range . capital spending of $ 259.9 million ( net of $ 48.6 million in insurance recoveries ) in 2007 was below depreciation and amortization expense of $ 281 million . we continue to invest capital in our best performing operations , including projects to increase custom can capabilities , improve beverage can and end making productivity and add more beverage can capacity in europe , as well as expenditures in the aerospace and technologies segment . of the $ 350 million of planned capital spending for 2008 , approximately $ 180 million will be spent on top-line sales growth projects . debt facilities and refinancing interest-bearing debt at december 31 , 2007 , decreased $ 93.1 million to $ 2358.6 million from $ 2451.7 million at december 31 , 2006 . the 2007 debt decrease from 2006 was primarily attributed to debt payments offset by higher foreign exchange rates . at december 31 , 2007 , $ 705 million was available under the company 2019s multi-currency revolving credit facilities . the company also had $ 345 million of short-term uncommitted credit facilities available at the end of the year , of which $ 49.7 million was outstanding . on october 13 , 2005 , ball refinanced its senior secured credit facilities and during the third and fourth quarters of 2005 , ball redeemed its 7.75% ( 7.75 % ) senior notes due august 2006 primarily through the drawdown of funds under the new credit facilities . the refinancing and redemption resulted in a pretax debt refinancing charge of $ 19.3 million ( $ 12.3 million after tax ) to reflect the call premium associated with the senior notes and the write off of unamortized debt issuance costs . the company has a receivables sales agreement that provides for the ongoing , revolving sale of a designated pool of trade accounts receivable of ball 2019s north american packaging operations , up to $ 250 million . the agreement qualifies as off-balance sheet financing under the provisions of statement of financial accounting standards ( sfas ) no . 140 , as amended by sfas no . 156 . net funds received from the sale of the accounts receivable totaled $ 170 million and $ 201.3 million at december 31 , 2007 and 2006 , respectively , and are reflected as a reduction of accounts receivable in the consolidated balance sheets . the company was not in default of any loan agreement at december 31 , 2007 , and has met all payment obligations . the u.s . note agreements , bank credit agreement and industrial development revenue bond agreements contain certain restrictions relating to dividends , investments , financial ratios , guarantees and the incurrence of additional indebtedness . additional details about the company 2019s receivables sales agreement and debt are available in notes 7 and 13 , respectively , accompanying the consolidated financial statements within item 8 of this report. .
Question: how much of the 2008 planned capital spending will impact top line revenue?
Answer: | 0.51429 |
FINQA4236 | Please answer the given financial question based on the context.
Context: recourse and repurchase obligations as discussed in note 3 loan sale and servicing activities and variable interest entities , pnc has sold commercial mortgage , residential mortgage and home equity loans directly or indirectly through securitization and loan sale transactions in which we have continuing involvement . one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets . commercial mortgage loan recourse obligations we originate , close and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s delegated underwriting and servicing ( dus ) program . we participated in a similar program with the fhlmc . under these programs , we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement . at december 31 , 2013 and december 31 , 2012 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 11.7 billion and $ 12.8 billion , respectively . the potential maximum exposure under the loss share arrangements was $ 3.6 billion at december 31 , 2013 and $ 3.9 billion at december 31 , 2012 . we maintain a reserve for estimated losses based upon our exposure . the reserve for losses under these programs totaled $ 33 million and $ 43 million as of december 31 , 2013 and december 31 , 2012 , respectively , and is included in other liabilities on our consolidated balance sheet . if payment is required under these programs , we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred , although the value of the collateral is taken into account in determining our share of such losses . our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment . table 152 : analysis of commercial mortgage recourse obligations .
|in millions|2013|2012|
|january 1|$ 43|$ 47|
|reserve adjustments net|-9 ( 9 )|4|
|losses 2013 loan repurchases and settlements|-1 ( 1 )|-8 ( 8 )|
|december 31|$ 33|$ 43|
residential mortgage loan and home equity repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors . these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements . for additional information on loan sales see note 3 loan sale and servicing activities and variable interest entities . our historical exposure and activity associated with agency securitization repurchase obligations has primarily been related to transactions with fnma and fhlmc , as indemnification and repurchase losses associated with fha and va-insured and uninsured loans pooled in gnma securitizations historically have been minimal . repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment . in the fourth quarter of 2013 , pnc reached agreements with both fnma and fhlmc to resolve their repurchase claims with respect to loans sold between 2000 and 2008 . pnc paid a total of $ 191 million related to these settlements . pnc 2019s repurchase obligations also include certain brokered home equity loans/lines of credit that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition of national city . pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of loans sold in these transactions . repurchase activity associated with brokered home equity loans/lines of credit is reported in the non-strategic assets portfolio segment . indemnification and repurchase liabilities are initially recognized when loans are sold to investors and are subsequently evaluated by management . initial recognition and subsequent adjustments to the indemnification and repurchase liability for the sold residential mortgage portfolio are recognized in residential mortgage revenue on the consolidated income statement . since pnc is no longer engaged in the brokered home equity lending business , only subsequent adjustments are recognized to the home equity loans/lines indemnification and repurchase liability . these adjustments are recognized in other noninterest income on the consolidated income statement . 214 the pnc financial services group , inc . 2013 form 10-k .
Question: what was the average potential maximum exposure under the loss share arrangements in december 31 , 2013 and december 31 , 2012 in billions?
Answer: | 3.75 |
FINQA4237 | 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: in 2017 what was the percent of the total non-cancelable future lease commitments are for operating leases that was due in 2018
Answer: | 0.23727 |
FINQA4238 | Please answer the given financial question based on the context.
Context: for intangible assets subject to amortization , the estimated aggregate amortization expense for each of the five succeeding fiscal years is as follows : 2009 - $ 41.1 million , 2010 - $ 27.3 million , 2011 - $ 20.9 million , 2012 - $ 17.0 million , and 2013 - $ 12.0 million . fees and expenses related to the merger totaled $ 102.6 million , principally consisting of investment banking fees , legal fees and stock compensation ( $ 39.4 million as further discussed in note 10 ) , and are reflected in the 2007 results of operations . capitalized debt issuance costs as of the merger date of $ 87.4 million for merger-related financing were reflected in other long- term assets in the consolidated balance sheet . the following represents the unaudited pro forma results of the company 2019s consolidated operations as if the merger had occurred on february 3 , 2007 and february 4 , 2006 , respectively , after giving effect to certain adjustments , including the depreciation and amortization of the assets acquired based on their estimated fair values and changes in interest expense resulting from changes in consolidated debt ( in thousands ) : ( in thousands ) year ended february 1 , year ended february 2 .
|( in thousands )|year endedfebruary 12008|year endedfebruary 22007|
|revenue|$ 9495246|$ 9169822|
|net loss|-57939 ( 57939 )|( 156188 )|
the pro forma information does not purport to be indicative of what the company 2019s results of operations would have been if the acquisition had in fact occurred at the beginning of the periods presented , and is not intended to be a projection of the company 2019s future results of operations . subsequent to the announcement of the merger agreement , the company and its directors , along with other parties , were named in seven putative class actions filed in tennessee state courts alleging claims for breach of fiduciary duty arising out of the proposed merger , all as described more fully under 201clegal proceedings 201d in note 8 below . 3 . strategic initiatives during 2006 , the company began implementing certain strategic initiatives related to its historical inventory management and real estate strategies , as more fully described below . inventory management in november 2006 , the company undertook an initiative to discontinue its historical inventory packaway model for virtually all merchandise by the end of fiscal 2007 . under the packaway model , certain unsold inventory items ( primarily seasonal merchandise ) were stored on-site and returned to the sales floor until the items were eventually sold , damaged or discarded . through end-of-season and other markdowns , this initiative resulted in the elimination of seasonal , home products and basic clothing packaway merchandise to allow for increased levels of newer , current-season merchandise . in connection with this strategic change , in the third quarter of 2006 the company recorded a reserve for lower of cost or market inventory .
Question: what is the growth rate of revenue from 2007 to 2008?
Answer: | 0.03549 |
FINQA4239 | Please answer the given financial question based on the context.
Context: system energy resources , inc . management 2019s financial discussion and analysis sources of capital system energy 2019s sources to meet its capital requirements include : internally generated funds ; cash on hand ; debt issuances ; and bank financing under new or existing facilities . system energy may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable . all debt and common 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 . in february 2012 , system energy vie issued $ 50 million of 4.02% ( 4.02 % ) series h notes due february 2017 . system energy used the proceeds to purchase additional nuclear fuel . system energy has obtained a short-term borrowing authorization from the ferc under which it may borrow , through october 2013 , 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 2019s 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 july 2013 . system energy 2019s receivables from the money pool were as follows as of december 31 for each of the following years: .
|2011|2010|2009|2008|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 120424|$ 97948|$ 90507|$ 42915|
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 . after the nuclear incident in japan resulting from the march 2011 earthquake and tsunami , the nrc established a task force to conduct a review of processes and regulations relating to nuclear facilities in the united states . the task force issued a near term ( 90-day ) report in july 2011 that has made recommendations , which are currently being evaluated by the nrc . it is anticipated that the nrc will issue certain orders and requests for information to nuclear plant licensees by the end of the first quarter 2012 that will begin to implement the task force 2019s recommendations . these orders may require u.s . nuclear operators , including entergy , to undertake plant modifications or perform additional analyses that could , among other things , result in increased costs and capital requirements associated with operating entergy 2019s nuclear plants. .
Question: what is the total system energy 2019s receivables from the money pool in the last three years?
Answer: | 308879.0 |
FINQA4240 | Please answer the given financial question based on the context.
Context: agreements associated with the agency securitizations , most sale agreements do not provide for penalties or other remedies if we do not respond timely to investor indemnification or repurchase requests . origination and sale of residential mortgages is an ongoing business activity and , accordingly , management continually assesses the need to recognize indemnification and repurchase liabilities pursuant to the associated investor sale agreements . we establish indemnification and repurchase liabilities for estimated losses on sold first and second-lien mortgages and home equity loans/lines for which indemnification is expected to be provided or for loans that are expected to be repurchased . for the first and second-lien mortgage sold portfolio , we have established an indemnification and repurchase liability pursuant to investor sale agreements based on claims made and our estimate of future claims on a loan by loan basis . these relate primarily to loans originated during 2006-2008 . for the home equity loans/lines sold portfolio , we have established indemnification and repurchase liabilities based upon this same methodology for loans sold during 2005-2007 . indemnification and repurchase liabilities are initially recognized when loans are sold to investors and are subsequently evaluated by management . initial recognition and subsequent adjustments to the indemnification and repurchase liability for the sold residential mortgage portfolio are recognized in residential mortgage revenue on the consolidated income statement . since pnc is no longer engaged in the brokered home equity lending business , only subsequent adjustments are recognized to the home equity loans/lines indemnification and repurchase liability . these adjustments are recognized in other noninterest income on the consolidated income statement . management 2019s subsequent evaluation of these indemnification and repurchase liabilities is based upon trends in indemnification and repurchase requests , actual loss experience , risks in the underlying serviced loan portfolios , and current economic conditions . as part of its evaluation , management considers estimated loss projections over the life of the subject loan portfolio . at december 31 , 2011 and december 31 , 2010 , the total indemnification and repurchase liability for estimated losses on indemnification and repurchase claims totaled $ 130 million and $ 294 million , respectively , and was included in other liabilities on the consolidated balance sheet . an analysis of the changes in this liability during 2011 and 2010 follows : analysis of indemnification and repurchase liability for asserted claims and unasserted claims .
|in millions|2011 residential mortgages ( a )|2011 home equity loans/lines ( b )|2011 total|2011 residential mortgages ( a )|2011 home equity loans/lines ( b )|total|
|january 1|$ 144|$ 150|$ 294|$ 229|$ 41|$ 270|
|reserve adjustments net|102|4|106|120|144|264|
|losses 2013 loan repurchases and settlements|-163 ( 163 )|-107 ( 107 )|-270 ( 270 )|-205 ( 205 )|-35 ( 35 )|-240 ( 240 )|
|december 31|$ 83|$ 47|$ 130|$ 144|$ 150|$ 294|
( a ) repurchase obligation associated with sold loan portfolios of $ 121.4 billion and $ 139.8 billion at december 31 , 2011 and december 31 , 2010 , respectively . ( b ) repurchase obligation associated with sold loan portfolios of $ 4.5 billion and $ 6.5 billion at december 31 , 2011 and december 31 , 2010 , respectively . pnc is no longer engaged in the brokered home equity lending business , which was acquired with national city . management believes our indemnification and repurchase liabilities appropriately reflect the estimated probable losses on investor indemnification and repurchase claims at december 31 , 2011 and 2010 . while management seeks to obtain all relevant information in estimating the indemnification and repurchase liability , the estimation process is inherently uncertain and imprecise and , accordingly , it is reasonably possible that future indemnification and repurchase losses could be more or less than our established liability . factors that could affect our estimate include the volume of valid claims driven by investor strategies and behavior , our ability to successfully negotiate claims with investors , housing prices , and other economic conditions . at december 31 , 2011 , we estimate that it is reasonably possible that we could incur additional losses in excess of our indemnification and repurchase liability of up to $ 85 million . this estimate of potential additional losses in excess of our liability is based on assumed higher investor demands , lower claim rescissions , and lower home prices than our current assumptions . reinsurance agreements we have two wholly-owned captive insurance subsidiaries which provide reinsurance to third-party insurers related to insurance sold to our customers . these subsidiaries enter into various types of reinsurance agreements with third-party insurers where the subsidiary assumes the risk of loss through either an excess of loss or quota share agreement up to 100% ( 100 % ) reinsurance . in excess of loss agreements , these subsidiaries assume the risk of loss for an excess layer of coverage up to specified limits , once a defined first loss percentage is met . in quota share agreements , the subsidiaries and third-party insurers share the responsibility for payment of all claims . these subsidiaries provide reinsurance for accidental death & dismemberment , credit life , accident & health , lender placed 200 the pnc financial services group , inc . 2013 form 10-k .
Question: what is the difference in millions between residential mortgages as of jan 1 , 2011 and dec 31 , 2011?
Answer: | 61.0 |
FINQA4241 | Please answer the given financial question based on the context.
Context: o . segment information 2013 ( concluded ) ( 1 ) included in net sales were export sales from the u.s . of $ 246 million , $ 277 million and $ 275 million in 2010 , 2009 and 2008 , respectively . ( 2 ) intra-company sales between segments represented approximately two percent of net sales in 2010 , three percent of net sales in 2009 and one percent of net sales in 2008 . ( 3 ) included in net sales were sales to one customer of $ 1993 million , $ 2053 million and $ 2058 million in 2010 , 2009 and 2008 , respectively . such net sales were included in the following segments : cabinets and related products , plumbing products , decorative architectural products and other specialty products . ( 4 ) net sales from the company 2019s operations in the u.s . were $ 5618 million , $ 5952 million and $ 7150 million in 2010 , 2009 and 2008 , respectively . ( 5 ) net sales , operating ( loss ) profit , property additions and depreciation and amortization expense for 2010 , 2009 and 2008 excluded the results of businesses reported as discontinued operations in 2010 , 2009 and 2008 . ( 6 ) included in segment operating ( loss ) profit for 2010 were impairment charges for goodwill and other intangible assets as follows : plumbing products 2013 $ 1 million ; and installation and other services 2013 $ 720 million . included in segment operating profit ( loss ) for 2009 were impairment charges for goodwill as follows : plumbing products 2013 $ 39 million ; other specialty products 2013 $ 223 million . included in segment operating profit ( loss ) for 2008 were impairment charges for goodwill and other intangible assets as follows : cabinets and related products 2013 $ 59 million ; plumbing products 2013 $ 203 million ; installation and other services 2013 $ 52 million ; and other specialty products 2013 $ 153 million . ( 7 ) general corporate expense , net included those expenses not specifically attributable to the company 2019s segments . ( 8 ) during 2009 , the company recognized a curtailment loss related to the plan to freeze all future benefit accruals beginning january 1 , 2010 under substantially all of the company 2019s domestic qualified and non-qualified defined-benefit pension plans . see note m to the consolidated financial statements . ( 9 ) the charge for litigation settlement in 2009 relates to a business unit in the cabinets and related products segment . the charge for litigation settlement in 2008 relates to a business unit in the installation and other services segment . ( 10 ) see note l to the consolidated financial statements . ( 11 ) long-lived assets of the company 2019s operations in the u.s . and europe were $ 3684 million and $ 617 million , $ 4628 million and $ 690 million , and $ 4887 million and $ 770 million at december 31 , 2010 , 2009 and 2008 , respectively . ( 12 ) segment assets for 2009 and 2008 excluded the assets of businesses reported as discontinued operations . p . other income ( expense ) , net other , net , which is included in other income ( expense ) , net , was as follows , in millions: .
||2010|2009|2008|
|income from cash and cash investments|$ 6|$ 7|$ 22|
|other interest income|1|2|2|
|income from financial investments net ( note e )|9|3|1|
|other items net|-9 ( 9 )|17|-22 ( 22 )|
|total other net|$ 7|$ 29|$ 3|
masco corporation notes to consolidated financial statements 2014 ( continued ) .
Question: what was the increase observed in the export sales among net sales during 2008 and 2009?
Answer: | 0.00727 |
FINQA4242 | Please answer the given financial question based on the context.
Context: 2016 non-qualified deferred compensation as of december 31 , 2016 , mr . may had a deferred account balance under a frozen defined contribution restoration plan . the amount is deemed invested , as chosen by the participant , in certain t . rowe price investment funds that are also available to the participant under the savings plan . mr . may has elected to receive the deferred account balance after he retires . the defined contribution restoration plan , until it was frozen in 2005 , credited eligible employees 2019 deferral accounts with employer contributions to the extent contributions under the qualified savings plan in which the employee participated were subject to limitations imposed by the code . defined contribution restoration plan executive contributions in registrant contributions in aggregate earnings in 2016 ( 1 ) aggregate withdrawals/ distributions aggregate balance at december 31 , ( a ) ( b ) ( c ) ( d ) ( e ) ( f ) .
|name|executive contributions in 2016 ( b )|registrant contributions in 2016 ( c )|aggregate earnings in 2016 ( 1 ) ( d )|aggregate withdrawals/distributions ( e )|aggregate balance at december 31 2016 ( a ) ( f )|
|phillip r . may jr .|$ 2014|$ 2014|$ 177|$ 2014|$ 1751|
( 1 ) amounts in this column are not included in the summary compensation table . 2016 potential payments upon termination or change in control entergy corporation has plans and other arrangements that provide compensation to a named executive officer if his or her employment terminates under specified conditions , including following a change in control of entergy corporation . in addition , in 2006 entergy corporation entered into a retention agreement with mr . denault that provides possibility of additional service credit under the system executive retirement plan upon certain terminations of employment . there are no plans or agreements that would provide for payments to any of the named executive officers solely upon a change in control . the tables below reflect the amount of compensation each of the named executive officers would have received if his or her employment with their entergy employer had been terminated under various scenarios as of december 31 , 2016 . for purposes of these tables , a stock price of $ 73.47 was used , which was the closing market price on december 30 , 2016 , the last trading day of the year. .
Question: what was mr . may's 12/31/15 plan balance?
Answer: | 1928.0 |
FINQA4243 | Please answer the given financial question based on the context.
Context: adobe systems incorporated notes to consolidated financial statements ( continued ) accounting for uncertainty in income taxes during fiscal 2013 and 2012 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : .
||2013|2012|
|beginning balance|$ 160468|$ 163607|
|gross increases in unrecognized tax benefits 2013 prior year tax positions|20244|1038|
|gross increases in unrecognized tax benefits 2013 current year tax positions|16777|23771|
|settlements with taxing authorities|-55851 ( 55851 )|-1754 ( 1754 )|
|lapse of statute of limitations|-4066 ( 4066 )|-25387 ( 25387 )|
|foreign exchange gains and losses|-1474 ( 1474 )|-807 ( 807 )|
|ending balance|$ 136098|$ 160468|
as of november 29 , 2013 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 11.4 million . we file income tax returns in the u.s . on a federal basis and in many u.s . state and foreign jurisdictions . we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities . our major tax jurisdictions are the u.s. , ireland and california . for california , ireland and the u.s. , the earliest fiscal years open for examination are 2005 , 2006 and 2010 , respectively . we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examinations . we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position . in july 2013 , a u.s . income tax examination covering our fiscal years 2008 and 2009 was completed . our accrued tax and interest related to these years was $ 48.4 million and was previously reported in long-term income taxes payable . we settled the tax obligation resulting from this examination with cash and income tax assets totaling $ 41.2 million , and the resulting $ 7.2 million income tax benefit was recorded in the third quarter of fiscal 2013 . the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process . these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities . we believe that within the next 12 months , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both . given the uncertainties described above , we can only determine a range of estimated potential decreases in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 5 million . note 10 . restructuring fiscal 2011 restructuring plan in the fourth quarter of fiscal 2011 , we initiated a restructuring plan consisting of reductions in workforce and the consolidation of facilities in order to better align our resources around our digital media and digital marketing strategies . during fiscal 2013 , we continued to implement restructuring activities under this plan . total costs incurred to date and expected to be incurred for closing redundant facilities are $ 12.2 million as all facilities under this plan have been exited as of november 29 , 2013 . other restructuring plans other restructuring plans include other adobe plans and other plans associated with certain of our acquisitions that are substantially complete . we continue to make cash outlays to settle obligations under these plans , however the current impact to our consolidated financial statements is not significant . our other restructuring plans primarily consist of the 2009 restructuring plan , which was implemented in the fourth quarter of fiscal 2009 , in order to appropriately align our costs in connection with our fiscal 2010 operating plan. .
Question: what is the percentage change in total gross amount of unrecognized tax benefits from 2012 to 2013?
Answer: | -0.15187 |
FINQA4244 | Please answer the given financial question based on the context.
Context: amounts due from related parties at december a031 , 2010 and 2009 con- sisted of the following ( in thousands ) : .
||2010|2009|
|due from joint ventures|$ 1062|$ 228|
|officers and employees|2014|153|
|other|5233|8189|
|related party receivables|$ 6295|$ 8570|
gramercy capital corp . see note a0 6 , 201cinvestment in unconsolidated joint ventures 2014gramercy capital corp. , 201d for disclosure on related party transactions between gramercy and the company . 13 2002equit y common stock our authorized capital stock consists of 260000000 shares , $ .01 par value , of which we have authorized the issuance of up to 160000000 shares of common stock , $ .01 par value per share , 75000000 shares of excess stock , $ .01 par value per share , and 25000000 shares of preferred stock , $ .01 par value per share . as of december a031 , 2010 , 78306702 shares of common stock and no shares of excess stock were issued and outstanding . in may 2009 , we sold 19550000 shares of our common stock at a gross price of $ 20.75 per share . the net proceeds from this offer- ing ( approximately $ 387.1 a0 million ) were primarily used to repurchase unsecured debt . perpetual preferred stock in january 2010 , we sold 5400000 shares of our series a0c preferred stock in an underwritten public offering . as a result of this offering , we have 11700000 shares of the series a0 c preferred stock outstanding . the shares of series a0c preferred stock have a liquidation preference of $ 25.00 per share and are redeemable at par , plus accrued and unpaid dividends , at any time at our option . the shares were priced at $ 23.53 per share including accrued dividends equating to a yield of 8.101% ( 8.101 % ) . we used the net offering proceeds of approximately $ 122.0 a0million for gen- eral corporate and/or working capital purposes , including purchases of the indebtedness of our subsidiaries and investment opportunities . in december 2003 , we sold 6300000 shares of our 7.625% ( 7.625 % ) series a0 c preferred stock , ( including the underwriters 2019 over-allotment option of 700000 shares ) with a mandatory liquidation preference of $ 25.00 per share . net proceeds from this offering ( approximately $ 152.0 a0 million ) were used principally to repay amounts outstanding under our secured and unsecured revolving credit facilities . the series a0c preferred stockholders receive annual dividends of $ 1.90625 per share paid on a quarterly basis and dividends are cumulative , subject to cer- tain provisions . since december a0 12 , 2008 , we have been entitled to redeem the series a0c preferred stock at par for cash at our option . the series a0c preferred stock was recorded net of underwriters discount and issuance costs . 12 2002related part y transactions cleaning/securit y/messenger and restoration services through al l iance bui lding services , or al l iance , first qual i t y maintenance , a0l.p. , or first quality , provides cleaning , extermination and related services , classic security a0llc provides security services , bright star couriers a0llc provides messenger services , and onyx restoration works provides restoration services with respect to certain proper- ties owned by us . alliance is partially owned by gary green , a son of stephen a0l . green , the chairman of our board of directors . in addition , first quality has the non-exclusive opportunity to provide cleaning and related services to individual tenants at our properties on a basis sepa- rately negotiated with any tenant seeking such additional services . the service corp . has entered into an arrangement with alliance whereby it will receive a profit participation above a certain threshold for services provided by alliance to certain tenants at certain buildings above the base services specified in their lease agreements . alliance paid the service corporation approximately $ 2.2 a0million , $ 1.8 a0million and $ 1.4 a0million for the years ended december a031 , 2010 , 2009 and 2008 , respectively . we paid alliance approximately $ 14.2 a0million , $ 14.9 a0million and $ 15.1 a0million for three years ended december a031 , 2010 , respectively , for these ser- vices ( excluding services provided directly to tenants ) . leases nancy peck and company leases 1003 square feet of space at 420 lexington avenue under a lease that ends in august 2015 . nancy peck and company is owned by nancy peck , the wife of stephen a0l . green . the rent due pursuant to the lease is $ 35516 per annum for year one increas- ing to $ 40000 in year seven . from february 2007 through december 2008 , nancy peck and company leased 507 square feet of space at 420 a0 lexington avenue pursuant to a lease which provided for annual rental payments of approximately $ 15210 . brokerage services cushman a0 & wakefield sonnenblick-goldman , a0 llc , or sonnenblick , a nationally recognized real estate investment banking firm , provided mortgage brokerage services to us . mr . a0 morton holliday , the father of mr . a0 marc holliday , was a managing director of sonnenblick at the time of the financings . in 2009 , we paid approximately $ 428000 to sonnenblick in connection with the purchase of a sub-leasehold interest and the refinancing of 420 lexington avenue . management fees s.l . green management corp. , a consolidated entity , receives property management fees from an entity in which stephen a0l . green owns an inter- est . the aggregate amount of fees paid to s.l . green management corp . from such entity was approximately $ 390700 in 2010 , $ 351700 in 2009 and $ 353500 in 2008 . notes to consolidated financial statements .
Question: how much per square foot per month does nancy peck and company charge for its 420 lexington avenue property?
Answer: | 2959.66667 |
FINQA4245 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 7 . derivative financial instruments under the terms of the credit facility , the company is required to enter into interest rate protection agreements on at least 50% ( 50 % ) of its variable rate debt . under these agreements , the company is exposed to credit risk to the extent that a counterparty fails to meet the terms of a contract . such exposure is limited to the current value of the contract at the time the counterparty fails to perform . the company believes its contracts as of december 31 , 2004 are with credit worthy institutions . as of december 31 , 2004 , the company had two interest rate caps outstanding with an aggregate notional amount of $ 350.0 million ( each at an interest rate of 6.0% ( 6.0 % ) ) that expire in 2006 . as of december 31 , 2003 , the company had three interest rate caps outstanding with an aggregate notional amount of $ 500.0 million ( each at a rate of 5.0% ( 5.0 % ) ) that expired in 2004 . as of december 31 , 2004 and 2003 , there was no fair value associated with any of these interest rate caps . during the year ended december 31 , 2003 , the company recorded an unrealized loss of approximately $ 0.3 million ( net of a tax benefit of approximately $ 0.2 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 5.9 million ( net of a tax benefit of approximately $ 3.2 million ) into results of operations . during the year ended december 31 , 2002 , the company recorded an unrealized loss of approximately $ 9.1 million ( net of a tax benefit of approximately $ 4.9 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 19.5 million ( net of a tax benefit of approximately $ 10.5 million ) into results of operations . hedge ineffectiveness resulted in a gain of approximately $ 1.0 million for the year ended december 31 , 2002 , which is recorded in other expense in the accompanying consolidated statement of operations . the company records the changes in fair value of its derivative instruments that are not accounted for as hedges in other expense . the company did not reclassify any derivative losses into its statement of operations for the year ended december 31 , 2004 and does not anticipate reclassifying any derivative losses into its statement of operations within the next twelve months , as there are no amounts included in other comprehensive loss as of december 31 , 2004 . 8 . commitments and contingencies lease obligations 2014the company leases certain land , office and tower space under operating leases that expire over various terms . many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option . escalation clauses present in operating leases , excluding those tied to cpi or other inflation-based indices , are straight-lined over the term of the lease . ( see note 1. ) future minimum rental payments under non-cancelable operating leases include payments for certain renewal periods at the company 2019s option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases , thereby making it reasonably assured that the company will renew the lease . such payments in effect at december 31 , 2004 are as follows ( in thousands ) : year ending december 31 .
|2005|$ 106116|
|2006|106319|
|2007|106095|
|2008|106191|
|2009|106214|
|thereafter|1570111|
|total|$ 2101046|
aggregate rent expense ( including the effect of straight-line rent expense ) under operating leases for the years ended december 31 , 2004 , 2003 and 2002 approximated $ 118741000 , $ 113956000 , and $ 109644000 , respectively. .
Question: what is the percentage change in aggregate rent expense from 2003 to 2004?
Answer: | 0.04199 |
FINQA4246 | Please answer the given financial question based on the context.
Context: ( $ 66 million net-of-tax ) as a result of customer credits to be realized by electric customers of entergy louisiana , consistent with the terms of the stipulated settlement in the business combination proceeding . see note 2 to the financial statements for further discussion of the business combination and customer credits . results of operations for 2015 also include the sale in december 2015 of the 583 mw rhode island state energy center for a realized gain of $ 154 million ( $ 100 million net-of-tax ) on the sale and the $ 77 million ( $ 47 million net-of-tax ) write-off and regulatory charges to recognize that a portion of the assets associated with the waterford 3 replacement steam generator project is no longer probable of recovery . see note 14 to the financial statements for further discussion of the rhode island state energy center sale . see note 2 to the financial statements for further discussion of the waterford 3 replacement steam generator prudence review proceeding . net revenue utility following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) .
||amount ( in millions )|
|2015 net revenue|$ 5829|
|retail electric price|289|
|louisiana business combination customer credits|107|
|volume/weather|14|
|louisiana act 55 financing savings obligation|-17 ( 17 )|
|other|-43 ( 43 )|
|2016 net revenue|$ 6179|
the retail electric price variance is primarily due to : 2022 an increase in base rates at entergy arkansas , as approved by the apsc . the new rates were effective february 24 , 2016 and began billing with the first billing cycle of april 2016 . the increase included an interim base rate adjustment surcharge , effective with the first billing cycle of april 2016 , to recover the incremental revenue requirement for the period february 24 , 2016 through march 31 , 2016 . a significant portion of the increase was related to the purchase of power block 2 of the union power station ; 2022 an increase in the purchased power and capacity acquisition cost recovery rider for entergy new orleans , as approved by the city council , effective with the first billing cycle of march 2016 , primarily related to the purchase of power block 1 of the union power station ; 2022 an increase in formula rate plan revenues for entergy louisiana , implemented with the first billing cycle of march 2016 , to collect the estimated first-year revenue requirement related to the purchase of power blocks 3 and 4 of the union power station ; and 2022 an increase in revenues at entergy mississippi , 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 . see note 2 to the financial statements for further discussion of the rate proceedings . see note 14 to the financial statements for discussion of the union power station purchase . the louisiana business combination customer credits variance is due to a regulatory liability of $ 107 million recorded by entergy in october 2015 as a result of the entergy gulf states louisiana and entergy louisiana business combination . consistent with the terms of the stipulated settlement in the business combination proceeding , electric customers of entergy louisiana will realize customer credits associated with the business combination ; accordingly , in october 2015 , entergy recorded a regulatory liability of $ 107 million ( $ 66 million net-of-tax ) . these costs are being entergy corporation and subsidiaries management 2019s financial discussion and analysis .
Question: what is the growth rate in net revenue in 2016?
Answer: | 0.06004 |
FINQA4247 | Please answer the given financial question based on the context.
Context: 31mar201122064257 positions which were required to be capitalized . there are no positions which we anticipate could change materially within the next twelve months . liquidity and capital resources .
|( dollars in thousands )|fiscal years ended october 1 2010|fiscal years ended october 2 2009|fiscal years ended october 3 2008|
|cash and cash equivalents at beginning of period|$ 364221|$ 225104|$ 241577|
|net cash provided by operating activities|222962|218805|182673|
|net cash used in investing activities|-95329 ( 95329 )|-49528 ( 49528 )|-94959 ( 94959 )|
|net cash used in financing activities|-38597 ( 38597 )|-30160 ( 30160 )|-104187 ( 104187 )|
|cash and cash equivalents at end of period ( 1 )|$ 453257|$ 364221|$ 225104|
( 1 ) does not include restricted cash balances cash flow from operating activities : cash provided from operating activities is net income adjusted for certain non-cash items and changes in certain assets and liabilities . for fiscal year 2010 we generated $ 223.0 million in cash flow from operations , an increase of $ 4.2 million when compared to the $ 218.8 million generated in fiscal year 2009 . during fiscal year 2010 , net income increased by $ 42.3 million to $ 137.3 million when compared to fiscal year 2009 . despite the increase in net income , net cash provided by operating activities remained relatively consistent . this was primarily due to : 2022 fiscal year 2010 net income included a deferred tax expense of $ 38.5 million compared to a $ 24.9 million deferred tax benefit included in 2009 net income due to the release of the tax valuation allowance in fiscal year 2009 . 2022 during fiscal year 2010 , the company invested in working capital as result of higher business activity . compared to fiscal year 2009 , accounts receivable , inventory and accounts payable increased by $ 60.9 million , $ 38.8 million and $ 42.9 million , respectively . cash flow from investing activities : cash flow from investing activities consists primarily of capital expenditures and acquisitions . we had net cash outflows of $ 95.3 million in fiscal year 2010 , compared to $ 49.5 million in fiscal year 2009 . the increase is primarily due to an increase of $ 49.8 million in capital expenditures . we anticipate our capital spending to be consistent in fiscal year 2011 to maintain our projected growth rate . cash flow from financing activities : cash flows from financing activities consist primarily of cash transactions related to debt and equity . during fiscal year 2010 , we had net cash outflows of $ 38.6 million , compared to $ 30.2 million in fiscal year 2009 . during the year we had the following significant transactions : 2022 we retired $ 53.0 million in aggregate principal amount ( carrying value of $ 51.1 million ) of 2007 convertible notes for $ 80.7 million , which included a $ 29.6 million premium paid for the equity component of the instrument . 2022 we received net proceeds from employee stock option exercises of $ 40.5 million in fiscal year 2010 , compared to $ 38.7 million in fiscal year 2009 . skyworks / 2010 annual report 103 .
Question: what is the percent increase in cash and cash equivalents from year 2009 to 2010?
Answer: | 0.24446 |
FINQA4248 | Please answer the given financial question based on the context.
Context: all highly liquid securities with a maturity of three months or less at the date of purchase are considered to be cash equivalents . securities with maturities greater than three months are classified as available-for-sale and are considered to be short-term investments . the carrying value of our interest-bearing instruments approximated fair value as of december 29 , 2012 . interest rates under our revolving credit facility are variable , so interest expense for periods when the credit facility is utilized could be adversely affected by changes in interest rates . interest rates under our revolving credit facility can fluctuate based on changes in market interest rates and in an interest rate margin that varies based on our consolidated leverage ratio . as of december 29 , 2012 , we had no outstanding balance on the credit facility . see note 3 in the notes to consolidated financial statements for an additional description of our credit facility . equity price risk convertible notes our 2015 notes and 2013 notes include conversion and settlement provisions that are based on the price of our common stock at conversion or at maturity of the notes . in addition , the hedges and warrants associated with these convertible notes also include settlement provisions that are based on the price of our common stock . the amount of cash we may be required to pay , or the number of shares we may be required to provide to note holders at conversion or maturity of these notes , is determined by the price of our common stock . the amount of cash or number of shares that we may receive from hedge counterparties in connection with the related hedges and the number of shares that we may be required to provide warrant counterparties in connection with the related warrants are also determined by the price of our common stock . upon the expiration of our 2015 warrants , cadence will issue shares of common stock to the purchasers of the warrants to the extent our stock price exceeds the warrant strike price of $ 10.78 at that time . the following table shows the number of shares that cadence would issue to 2015 warrant counterparties at expiration of the warrants , assuming various cadence closing stock prices on the dates of warrant expiration : shares ( in millions ) .
||shares ( in millions )|
|$ 11.00|0.9|
|$ 12.00|4.7|
|$ 13.00|7.9|
|$ 14.00|10.7|
|$ 15.00|13.0|
|$ 16.00|15.1|
|$ 17.00|17.0|
|$ 18.00|18.6|
|$ 19.00|20.1|
|$ 20.00|21.4|
prior to the expiration of the 2015 warrants , for purposes of calculating diluted earnings per share , our diluted weighted-average shares outstanding will increase when our average closing stock price for a quarter exceeds $ 10.78 . for an additional description of our 2015 notes and 2013 notes , see note 3 in the notes to consolidated financial statements and 201cliquidity and capital resources 2014 other factors affecting liquidity and capital resources , 201d under item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations . 201d .
Question: what is the percentage difference in the number of shares to be issued if the stock price closes at $ 16 compared to if it closes at $ 20?
Answer: | 0.41722 |
FINQA4249 | Please answer the given financial question based on the context.
Context: be adjusted by reference to a grid ( the 201cpricing grid 201d ) based on the consolidated leverage ratio and ranges between 1.00% ( 1.00 % ) to 1.25% ( 1.25 % ) for adjusted libor loans and 0.00% ( 0.00 % ) to 0.25% ( 0.25 % ) for alternate base rate loans . the weighted average interest rate under the outstanding term loans and revolving credit facility borrowings was 1.6% ( 1.6 % ) and 1.3% ( 1.3 % ) during the years ended december 31 , 2016 and 2015 , respectively . the company pays a commitment fee on the average daily unused amount of the revolving credit facility and certain fees with respect to letters of credit . as of december 31 , 2016 , the commitment fee was 15.0 basis points . since inception , the company incurred and deferred $ 3.9 million in financing costs in connection with the credit agreement . 3.250% ( 3.250 % ) senior notes in june 2016 , the company issued $ 600.0 million aggregate principal amount of 3.250% ( 3.250 % ) senior unsecured notes due june 15 , 2026 ( the 201cnotes 201d ) . the proceeds were used to pay down amounts outstanding under the revolving credit facility . interest is payable semi-annually on june 15 and december 15 beginning december 15 , 2016 . prior to march 15 , 2026 ( three months prior to the maturity date of the notes ) , the company may redeem some or all of the notes at any time or from time to time at a redemption price equal to the greater of 100% ( 100 % ) of the principal amount of the notes to be redeemed or a 201cmake-whole 201d amount applicable to such notes as described in the indenture governing the notes , plus accrued and unpaid interest to , but excluding , the redemption date . on or after march 15 , 2026 ( three months prior to the maturity date of the notes ) , the company may redeem some or all of the notes at any time or from time to time at a redemption price equal to 100% ( 100 % ) of the principal amount of the notes to be redeemed , plus accrued and unpaid interest to , but excluding , the redemption date . the indenture governing the notes contains covenants , including limitations that restrict the company 2019s ability and the ability of certain of its subsidiaries to create or incur secured indebtedness and enter into sale and leaseback transactions and the company 2019s ability to consolidate , merge or transfer all or substantially all of its properties or assets to another person , in each case subject to material exceptions described in the indenture . the company incurred and deferred $ 5.3 million in financing costs in connection with the notes . other long term debt in december 2012 , the company entered into a $ 50.0 million recourse loan collateralized by the land , buildings and tenant improvements comprising the company 2019s corporate headquarters . the loan has a seven year term and maturity date of december 2019 . the loan bears interest at one month libor plus a margin of 1.50% ( 1.50 % ) , and allows for prepayment without penalty . the loan includes covenants and events of default substantially consistent with the company 2019s credit agreement discussed above . the loan also requires prior approval of the lender for certain matters related to the property , including transfers of any interest in the property . as of december 31 , 2016 and 2015 , the outstanding balance on the loan was $ 42.0 million and $ 44.0 million , respectively . the weighted average interest rate on the loan was 2.0% ( 2.0 % ) and 1.7% ( 1.7 % ) for the years ended december 31 , 2016 and 2015 , respectively . the following are the scheduled maturities of long term debt as of december 31 , 2016 : ( in thousands ) .
|2017|$ 27000|
|2018|27000|
|2019|63000|
|2020|25000|
|2021|86250|
|2022 and thereafter|600000|
|total scheduled maturities of long term debt|$ 828250|
|current maturities of long term debt|$ 27000|
.
Question: what percentage of total scheduled maturities of long term debt are due in 2020?
Answer: | 0.03018 |
FINQA4250 | Please answer the given financial question based on the context.
Context: dollar general corporation and subsidiaries notes to consolidated financial statements ( continued ) 3 . merger ( continued ) merger as a subsidiary of buck . the company 2019s results of operations after july 6 , 2007 include the effects of the merger . the aggregate purchase price was approximately $ 7.1 billion , including direct costs of the merger , and was funded primarily through debt financings as described more fully below in note 7 and cash equity contributions from kkr , gs capital partners vi fund , l.p . and affiliated funds ( affiliates of goldman , sachs & co. ) , and other equity co-investors ( collectively , the 2018 2018investors 2019 2019 of approximately $ 2.8 billion ( 316.2 million shares of new common stock , $ 0.875 par value per share , valued at $ 8.75 per share ) . also in connection with the merger , certain of the company 2019s management employees invested in and were issued new shares , representing less than 1% ( 1 % ) of the outstanding shares , in the company . pursuant to the terms of the merger agreement , the former holders of the predecessor 2019s common stock , par value $ 0.50 per share , received $ 22.00 per share , or approximately $ 6.9 billion , and all such shares were acquired as a result of the merger . as discussed in note 1 , the merger was accounted for as a reverse acquisition in accordance with applicable purchase accounting provisions . because of this accounting treatment , the company 2019s assets and liabilities have properly been accounted for at their estimated fair values as of the merger date . the aggregate purchase price has been allocated to the tangible and intangible assets acquired and liabilities assumed based upon an assessment of their relative fair values as of the merger date . the allocation of the purchase price is as follows ( in thousands ) : .
|cash and cash equivalents|$ 349615|
|short-term investments|30906|
|merchandise inventories|1368130|
|income taxes receivable|40199|
|deferred income taxes|57176|
|prepaid expenses and other current assets|63204|
|property and equipment net|1301119|
|goodwill|4338589|
|intangible assets|1396612|
|other assets net|66537|
|current portion of long-term obligations|-7088 ( 7088 )|
|accounts payable|-585518 ( 585518 )|
|accrued expenses and other|-306394 ( 306394 )|
|income taxes payable|-84 ( 84 )|
|long-term obligations|-267927 ( 267927 )|
|deferred income taxes|-540675 ( 540675 )|
|other liabilities|-208710 ( 208710 )|
|total purchase price assigned|$ 7095691|
the purchase price allocation included approximately $ 4.34 billion of goodwill , none of which is expected to be deductible for tax purposes . the goodwill balance at january 30 , 2009 decreased $ 6.3 million from the balance at february 1 , 2008 due to an adjustment to income tax contingencies as further discussed in note 6. .
Question: how much of the purchase price was allocated to intangibles?
Answer: | 5735201.0 |
FINQA4251 | 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 is the roi of an investment in s&p 500 in 2010 and liquidated in 2011?
Answer: | 0.021 |
FINQA4252 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis of financial condition and results of operations ( continued ) funding deposits : we provide products and services including custody , accounting , administration , daily pricing , foreign exchange services , cash management , financial asset management , securities finance and investment advisory services . as a provider of these products and services , we generate client deposits , which have generally provided a stable , low-cost source of funds . as a global custodian , clients place deposits with state street entities in various currencies . we invest these client deposits in a combination of investment securities and short- duration financial instruments whose mix is determined by the characteristics of the deposits . for the past several years , we have experienced higher client deposit inflows toward the end of the quarter or the end of the year . as a result , we believe average client deposit balances are more reflective of ongoing funding than period-end balances . table 33 : client deposits average balance december 31 , year ended december 31 .
|( in millions )|december 31 , 2014|december 31 , 2013|december 31 , 2014|2013|
|client deposits ( 1 )|$ 195276|$ 182268|$ 167470|$ 143043|
client deposits ( 1 ) $ 195276 $ 182268 $ 167470 $ 143043 ( 1 ) balance as of december 31 , 2014 excluded term wholesale certificates of deposit , or cds , of $ 13.76 billion ; average balances for the year ended december 31 , 2014 and 2013 excluded average cds of $ 6.87 billion and $ 2.50 billion , respectively . short-term funding : our corporate commercial paper program , under which we can issue up to $ 3.0 billion of commercial paper with original maturities of up to 270 days from the date of issuance , had $ 2.48 billion and $ 1.82 billion of commercial paper outstanding as of december 31 , 2014 and 2013 , respectively . our on-balance sheet liquid assets are also an integral component of our liquidity management strategy . these assets provide liquidity through maturities of the assets , but more importantly , they provide us with the ability to raise funds by pledging the securities as collateral for borrowings or through outright sales . in addition , our access to the global capital markets gives us the ability to source incremental funding at reasonable rates of interest from wholesale investors . as discussed earlier under 201casset liquidity , 201d state street bank's membership in the fhlb allows for advances of liquidity with varying terms against high-quality collateral . short-term secured funding also comes in the form of securities lent or sold under agreements to repurchase . these transactions are short-term in nature , generally overnight , and are collateralized by high-quality investment securities . these balances were $ 8.93 billion and $ 7.95 billion as of december 31 , 2014 and 2013 , respectively . state street bank currently maintains a line of credit with a financial institution of cad $ 800 million , or approximately $ 690 million as of december 31 , 2014 , to support its canadian securities processing operations . the line of credit has no stated termination date and is cancelable by either party with prior notice . as of december 31 , 2014 , there was no balance outstanding on this line of credit . long-term funding : as of december 31 , 2014 , state street bank had board authority to issue unsecured senior debt securities from time to time , provided that the aggregate principal amount of such unsecured senior debt outstanding at any one time does not exceed $ 5 billion . as of december 31 , 2014 , $ 4.1 billion was available for issuance pursuant to this authority . as of december 31 , 2014 , state street bank also had board authority to issue an additional $ 500 million of subordinated debt . we maintain an effective universal shelf registration that allows for the public offering and sale of debt securities , capital securities , common stock , depositary shares and preferred stock , and warrants to purchase such securities , including any shares into which the preferred stock and depositary shares may be convertible , or any combination thereof . we have issued in the past , and we may issue in the future , securities pursuant to our shelf registration . the issuance of debt or equity securities will depend on future market conditions , funding needs and other factors . agency credit ratings our ability to maintain consistent access to liquidity is fostered by the maintenance of high investment-grade ratings as measured by the major independent credit rating agencies . factors essential to maintaining high credit ratings include diverse and stable core earnings ; relative market position ; strong risk management ; strong capital ratios ; diverse liquidity sources , including the global capital markets and client deposits ; strong liquidity monitoring procedures ; and preparedness for current or future regulatory developments . high ratings limit borrowing costs and enhance our liquidity by providing assurance for unsecured funding and depositors , increasing the potential market for our debt and improving our ability to offer products , serve markets , and engage in transactions in which clients value high credit ratings . a downgrade or reduction of our credit ratings could have a material adverse effect on our liquidity by restricting our ability to access the capital .
Question: what is the growth rate in the deposits of clients from 2012 to 2013?
Answer: | 0.08836 |
FINQA4253 | Please answer the given financial question based on the context.
Context: five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 . the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2012 and that all dividends were reinvested . the information below is historical in nature and is not necessarily indicative of future performance . purchases of equity securities 2013 during 2017 , we repurchased 37122405 shares of our common stock at an average price of $ 110.50 . the following table presents common stock repurchases during each month for the fourth quarter of 2017 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares remaining under the plan or program [b] .
|period|total number of shares purchased [a]|average price paid per share|total number of shares purchased as part of a publicly announcedplan or program [b]|maximum number of shares remaining under the plan or program [b]|
|oct . 1 through oct . 31|3831636|$ 113.61|3800000|89078662|
|nov . 1 through nov . 30|3005225|117.07|2937410|86141252|
|dec . 1 through dec . 31|2718319|130.76|2494100|83647152|
|total|9555180|$ 119.58|9231510|n/a|
[a] total number of shares purchased during the quarter includes approximately 323670 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares . [b] effective january 1 , 2017 , our board of directors authorized the repurchase of up to 120 million shares of our common stock by december 31 , 2020 . these repurchases may be made on the open market or through other transactions . our management has sole discretion with respect to determining the timing and amount of these transactions. .
Question: for the fourth quarter of 2017 what was the percent of the total number of shares purchased in october
Answer: | 0.401 |
FINQA4254 | Please answer the given financial question based on the context.
Context: stockholder return performance graph the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index . the graph assumes that the value of the investment in our common stock and in each index on december 31 , 2011 ( including reinvestment of dividends ) was $ 100 and tracks it each year thereafter on the last day of our fiscal year through december 31 , 2016 and , for each index , on the last day of the calendar year . comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , and s&p 400 information technology cadence design systems , inc . nasdaq composite s&p 400 information technology 12/31/1612/28/13 1/2/1612/31/11 1/3/1512/29/12 *$ 100 invested on 12/31/11 in stock or index , including reinvestment of dividends . indexes calculated on month-end basis . copyright a9 2017 standard & poor 2019s , a division of s&p global . all rights reserved. .
||12/31/2011|12/29/2012|12/28/2013|1/3/2015|1/2/2016|12/31/2016|
|cadence design systems inc .|100.00|129.23|133.94|181.06|200.10|242.50|
|nasdaq composite|100.00|116.41|165.47|188.69|200.32|216.54|
|s&p 400 information technology|100.00|118.41|165.38|170.50|178.74|219.65|
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .
Question: what was the difference in percentage cumulative 5-year total stockholder return on cadence design systems inc . common stock and the s&p 400 information technology for the period ended 12/31/2016?
Answer: | 0.2285 |
FINQA4255 | Please answer the given financial question based on the context.
Context: marathon oil corporation notes to consolidated financial statements been reported as discontinued operations in the consolidated statements of income and the consolidated statements of cash flows for all periods presented . discontinued operations 2014revenues and pretax income associated with our discontinued irish and gabonese operations are shown in the following table : ( in millions ) 2009 2008 2007 .
|( in millions )|2009|2008|2007|
|revenues applicable to discontinued operations|$ 188|$ 439|$ 456|
|pretax income from discontinued operations|$ 80|$ 221|$ 281|
angola disposition 2013 in july 2009 , we entered into an agreement to sell an undivided 20 percent outside- operated interest in the production sharing contract and joint operating agreement in block 32 offshore angola for $ 1.3 billion , excluding any purchase price adjustments at closing , with an effective date of january 1 , 2009 . the sale closed and we received net proceeds of $ 1.3 billion in february 2010 . the pretax gain on the sale will be approximately $ 800 million . we retained a 10 percent outside-operated interest in block 32 . gabon disposition 2013 in december 2009 , we closed the sale of our operated fields offshore gabon , receiving net proceeds of $ 269 million , after closing adjustments . a $ 232 million pretax gain on this disposition was reported in discontinued operations for 2009 . permian basin disposition 2013 in june 2009 , we closed the sale of our operated and a portion of our outside- operated permian basin producing assets in new mexico and west texas for net proceeds after closing adjustments of $ 293 million . a $ 196 million pretax gain on the sale was recorded . ireland dispositions 2013 in april 2009 , we closed the sale of our operated properties in ireland for net proceeds of $ 84 million , after adjusting for cash held by the sold subsidiary . a $ 158 million pretax gain on the sale was recorded . as a result of this sale , we terminated our pension plan in ireland , incurring a charge of $ 18 million . in june 2009 , we entered into an agreement to sell the subsidiary holding our 19 percent outside-operated interest in the corrib natural gas development offshore ireland . total proceeds were estimated to range between $ 235 million and $ 400 million , subject to the timing of first commercial gas at corrib and closing adjustments . at closing on july 30 , 2009 , the initial $ 100 million payment plus closing adjustments was received . the fair value of the proceeds was estimated to be $ 311 million . fair value of anticipated sale proceeds includes ( i ) $ 100 million received at closing , ( ii ) $ 135 million minimum amount due at the earlier of first gas or december 31 , 2012 , and ( iii ) a range of zero to $ 165 million of contingent proceeds subject to the timing of first commercial gas . a $ 154 million impairment of the held for sale asset was recognized in discontinued operations in the second quarter of 2009 ( see note 16 ) since the fair value of the disposal group was less than the net book value . final proceeds will range between $ 135 million ( minimum amount ) to $ 300 million and are due on the earlier of first commercial gas or december 31 , 2012 . the fair value of the expected final proceeds was recorded as an asset at closing . as a result of new public information in the fourth quarter of 2009 , a writeoff was recorded on the contingent portion of the proceeds ( see note 10 ) . existing guarantees of our subsidiaries 2019 performance issued to irish government entities will remain in place after the sales until the purchasers issue similar guarantees to replace them . the guarantees , related to asset retirement obligations and natural gas production levels , have been indemnified by the purchasers . the fair value of these guarantees is not significant . norwegian disposition 2013 on october 31 , 2008 , we closed the sale of our norwegian outside-operated e&p properties and undeveloped offshore acreage in the heimdal area of the norwegian north sea for net proceeds of $ 301 million , with a pretax gain of $ 254 million as of december 31 , 2008 . pilot travel centers disposition 2013 on october 8 , 2008 , we completed the sale of our 50 percent ownership interest in ptc . sale proceeds were $ 625 million , with a pretax gain on the sale of $ 126 million . immediately preceding the sale , we received a $ 75 million partial redemption of our ownership interest from ptc that was accounted for as a return of investment . this was an investment of our rm&t segment. .
Question: what was the lowest yearly revenues applicable to discontinued operations?
Answer: | 188.0 |
FINQA4256 | Please answer the given financial question based on the context.
Context: s c h e d u l e i v ace limited and subsidiaries s u p p l e m e n t a l i n f o r m a t i o n c o n c e r n i n g r e i n s u r a n c e premiums earned for the years ended december 31 , 2010 , 2009 , and 2008 ( in millions of u.s . dollars , except for percentages ) direct amount ceded to companies assumed from other companies net amount percentage of amount assumed to .
|for the years ended december 31 2010 2009 and 2008 ( in millions of u.s . dollars except for percentages )|directamount|ceded to other companies|assumed from other companies|net amount|percentage of amount assumed to net|
|2010|$ 15780|$ 5792|$ 3516|$ 13504|26% ( 26 % )|
|2009|$ 15415|$ 5943|$ 3768|$ 13240|28% ( 28 % )|
|2008|$ 16087|$ 6144|$ 3260|$ 13203|25% ( 25 % )|
.
Question: what is the growth rate in direct amount from 2009 to 2010?
Answer: | 0.02368 |
FINQA4257 | Please answer the given financial question based on the context.
Context: table of contents totaled an absolute notional equivalent of $ 292.3 million and $ 190.5 million , respectively , with the year-over-year increase primarily driven by earnings growth . at this time , we do not hedge these long-term investment exposures . we do not use foreign exchange contracts for speculative trading purposes , nor do we hedge our foreign currency exposure in a manner that entirely offsets the effects of changes in foreign exchange rates . we regularly review our hedging program and assess the need to utilize financial instruments to hedge currency exposures on an ongoing basis . cash flow hedging 2014hedges of forecasted foreign currency revenue we may use foreign exchange purchased options or forward contracts to hedge foreign currency revenue denominated in euros , british pounds and japanese yen . we hedge these cash flow exposures to reduce the risk that our earnings and cash flows will be adversely affected by changes in exchange rates . these foreign exchange contracts , carried at fair value , may have maturities between one and twelve months . we enter into these foreign exchange contracts to hedge forecasted revenue in the normal course of business and accordingly , they are not speculative in nature . we record changes in the intrinsic value of these cash flow hedges in accumulated other comprehensive income ( loss ) until the forecasted transaction occurs . when the forecasted transaction occurs , we reclassify the related gain or loss on the cash flow hedge to revenue . in the event the underlying forecasted transaction does not occur , or it becomes probable that it will not occur , we reclassify the gain or loss on the related cash flow hedge from accumulated other comprehensive income ( loss ) to interest and other income , net on our consolidated statements of income at that time . for the fiscal year ended november 30 , 2018 , there were no net gains or losses recognized in other income relating to hedges of forecasted transactions that did not occur . balance sheet hedging 2014hedging of foreign currency assets and liabilities we hedge exposures related to our net recognized foreign currency assets and liabilities with foreign exchange forward contracts to reduce the risk that our earnings and cash flows will be adversely affected by changes in foreign currency exchange rates . these foreign exchange contracts are carried at fair value with changes in the fair value recorded as interest and other income , net . these foreign exchange contracts do not subject us to material balance sheet risk due to exchange rate movements because gains and losses on these contracts are intended to offset gains and losses on the assets and liabilities being hedged . at november 30 , 2018 , the outstanding balance sheet hedging derivatives had maturities of 180 days or less . see note 5 of our notes to consolidated financial statements for information regarding our hedging activities . interest rate risk short-term investments and fixed income securities at november 30 , 2018 , we had debt securities classified as short-term investments of $ 1.59 billion . changes in interest rates could adversely affect the market value of these investments . the following table separates these investments , based on stated maturities , to show the approximate exposure to interest rates ( in millions ) : .
|due within one year|$ 612.1|
|due between one and two years|564.2|
|due between two and three years|282.2|
|due after three years|127.7|
|total|$ 1586.2|
a sensitivity analysis was performed on our investment portfolio as of november 30 , 2018 . the analysis is based on an estimate of the hypothetical changes in market value of the portfolio that would result from an immediate parallel shift in the yield curve of various magnitudes. .
Question: of the short-term investments and fixed income securities at november 30 , 2018 , what percentage are due after three years?
Answer: | 0.08051 |
FINQA4258 | Please answer the given financial question based on the context.
Context: our refineries processed 944 mbpd of crude oil and 207 mbpd of other charge and blend stocks . the table below sets forth the location and daily crude oil refining capacity of each of our refineries as of december 31 , 2008 . crude oil refining capacity ( thousands of barrels per day ) 2008 .
|( thousands of barrels per day )|2008|
|garyville louisiana|256|
|catlettsburg kentucky|226|
|robinson illinois|204|
|detroit michigan|102|
|canton ohio|78|
|texas city texas|76|
|st . paul park minnesota|74|
|total|1016|
our refineries include crude oil atmospheric and vacuum distillation , fluid catalytic cracking , catalytic reforming , desulfurization and sulfur recovery units . the refineries process a wide variety of crude oils and produce numerous refined products , ranging from transportation fuels , such as reformulated gasolines , blend- grade gasolines intended for blending with fuel ethanol and ultra-low sulfur diesel fuel , to heavy fuel oil and asphalt . additionally , we manufacture aromatics , cumene , propane , propylene , sulfur and maleic anhydride . our refineries are integrated with each other via pipelines , terminals and barges to maximize operating efficiency . the transportation links that connect our refineries allow the movement of intermediate products between refineries to optimize operations , produce higher margin products and utilize our processing capacity efficiently . our garyville , louisiana , refinery is located along the mississippi river in southeastern louisiana . the garyville refinery processes heavy sour crude oil into products such as gasoline , distillates , sulfur , asphalt , propane , polymer grade propylene , isobutane and coke . in 2006 , we approved an expansion of our garyville refinery by 180 mbpd to 436 mbpd , with a currently projected cost of $ 3.35 billion ( excluding capitalized interest ) . construction commenced in early 2007 and is continuing on schedule . we estimate that , as of december 31 , 2008 , this project is approximately 75 percent complete . we expect to complete the expansion in late 2009 . our catlettsburg , kentucky , refinery is located in northeastern kentucky on the western bank of the big sandy river , near the confluence with the ohio river . the catlettsburg refinery processes sweet and sour crude oils into products such as gasoline , asphalt , diesel , jet fuel , petrochemicals , propane , propylene and sulfur . our robinson , illinois , refinery is located in the southeastern illinois town of robinson . the robinson refinery processes sweet and sour crude oils into products such as multiple grades of gasoline , jet fuel , kerosene , diesel fuel , propane , propylene , sulfur and anode-grade coke . our detroit , michigan , refinery is located near interstate 75 in southwest detroit . the detroit refinery processes light sweet and heavy sour crude oils , including canadian crude oils , into products such as gasoline , diesel , asphalt , slurry , propane , chemical grade propylene and sulfur . in 2007 , we approved a heavy oil upgrading and expansion project at our detroit , michigan , refinery , with a current projected cost of $ 2.2 billion ( excluding capitalized interest ) . this project will enable the refinery to process additional heavy sour crude oils , including canadian bitumen blends , and will increase its crude oil refining capacity by about 15 percent . construction began in the first half of 2008 and is presently expected to be complete in mid-2012 . our canton , ohio , refinery is located approximately 60 miles southeast of cleveland , ohio . the canton refinery processes sweet and sour crude oils into products such as gasoline , diesel fuels , kerosene , propane , sulfur , asphalt , roofing flux , home heating oil and no . 6 industrial fuel oil . our texas city , texas , refinery is located on the texas gulf coast approximately 30 miles south of houston , texas . the refinery processes sweet crude oil into products such as gasoline , propane , chemical grade propylene , slurry , sulfur and aromatics . our st . paul park , minnesota , refinery is located in st . paul park , a suburb of minneapolis-st . paul . the st . paul park refinery processes predominantly canadian crude oils into products such as gasoline , diesel , jet fuel , kerosene , asphalt , propane , propylene and sulfur. .
Question: what percentage of crude oil refining capacity is located in detroit michigan?
Answer: | 0.10039 |
FINQA4259 | Please answer the given financial question based on the context.
Context: overview we finance our operations and capital expenditures through a combination of internally generated cash from operations and from borrowings under our senior secured asset-based revolving credit facility . we believe that our current sources of funds will be sufficient to fund our cash operating requirements for the next year . in addition , we believe that , in spite of the uncertainty of future macroeconomic conditions , we have adequate sources of liquidity and funding available to meet our longer-term needs . however , there are a number of factors that may negatively impact our available sources of funds . the amount of cash generated from operations will be dependent upon factors such as the successful execution of our business plan and general economic conditions . long-term debt activities during the year ended december 31 , 2014 , we had significant debt refinancings . in connection with these refinancings , we recorded a loss on extinguishment of long-term debt of $ 90.7 million in our consolidated statement of operations for the year ended december 31 , 2014 . see note 7 to the accompanying audited consolidated financial statements included elsewhere in this report for additional details . share repurchase program on november 6 , 2014 , we announced that our board of directors approved a $ 500 million share repurchase program effective immediately under which we may repurchase shares of our common stock in the open market or through privately negotiated transactions , depending on share price , market conditions and other factors . the share repurchase program does not obligate us to repurchase any dollar amount or number of shares , and repurchases may be commenced or suspended from time to time without prior notice . as of the date of this filing , no shares have been repurchased under the share repurchase program . dividends a summary of 2014 dividend activity for our common stock is shown below: .
|dividend amount|declaration date|record date|payment date|
|$ 0.0425|february 12 2014|february 25 2014|march 10 2014|
|$ 0.0425|may 8 2014|may 27 2014|june 10 2014|
|$ 0.0425|july 31 2014|august 25 2014|september 10 2014|
|$ 0.0675|november 6 2014|november 25 2014|december 10 2014|
on february 10 , 2015 , we announced that our board of directors declared a quarterly cash dividend on our common stock of $ 0.0675 per share . the dividend will be paid on march 10 , 2015 to all stockholders of record as of the close of business on february 25 , 2015 . the payment of any future dividends will be at the discretion of our board of directors and will depend upon our results of operations , financial condition , business prospects , capital requirements , contractual restrictions , any potential indebtedness we may incur , restrictions imposed by applicable law , tax considerations and other factors that our board of directors deems relevant . in addition , our ability to pay dividends on our common stock will be limited by restrictions on our ability to pay dividends or make distributions to our stockholders and on the ability of our subsidiaries to pay dividends or make distributions to us , in each case , under the terms of our current and any future agreements governing our indebtedness . table of contents .
Question: was the dividend declared on february 10 , 2015 greater than the quarterly cash dividend on our common stock declared on february 12 2014?
Answer: | yes |
FINQA4260 | Please answer the given financial question based on the context.
Context: unit shipments increased 49% ( 49 % ) to 217.4 million units in 2006 , compared to 146.0 million units in 2005 . the overall increase was driven by increased unit shipments of products for gsm , cdma and 3g technologies , partially offset by decreased unit shipments of products for iden technology . for the full year 2006 , unit shipments by the segment increased in all regions . due to the segment 2019s increase in unit shipments outpacing overall growth in the worldwide handset market , which grew approximately 20% ( 20 % ) in 2006 , the segment believes that it expanded its global handset market share to an estimated 22% ( 22 % ) for the full year 2006 . in 2006 , asp decreased approximately 11% ( 11 % ) compared to 2005 . the overall decrease in asp was driven primarily by changes in the geographic and product-tier mix of sales . by comparison , asp decreased approximately 10% ( 10 % ) in 2005 and increased approximately 15% ( 15 % ) in 2004 . asp is impacted by numerous factors , including product mix , market conditions and competitive product offerings , and asp trends often vary over time . in 2006 , the largest of the segment 2019s end customers ( including sales through distributors ) were china mobile , verizon , sprint nextel , cingular , and t-mobile . these five largest customers accounted for approximately 39% ( 39 % ) of the segment 2019s net sales in 2006 . besides selling directly to carriers and operators , the segment also sold products through a variety of third-party distributors and retailers , which accounted for approximately 38% ( 38 % ) of the segment 2019s net sales . the largest of these distributors was brightstar corporation . although the u.s . market continued to be the segment 2019s largest individual market , many of our customers , and more than 65% ( 65 % ) of the segment 2019s 2006 net sales , were outside the u.s . the largest of these international markets were china , brazil , the united kingdom and mexico . home and networks mobility segment the home and networks mobility segment designs , manufactures , sells , installs and services : ( i ) digital video , internet protocol ( 201cip 201d ) video and broadcast network interactive set-tops ( 201cdigital entertainment devices 201d ) , end-to- end video delivery solutions , broadband access infrastructure systems , and associated data and voice customer premise equipment ( 201cbroadband gateways 201d ) to cable television and telecom service providers ( collectively , referred to as the 201chome business 201d ) , and ( ii ) wireless access systems ( 201cwireless networks 201d ) , including cellular infrastructure systems and wireless broadband systems , to wireless service providers . in 2007 , the segment 2019s net sales represented 27% ( 27 % ) of the company 2019s consolidated net sales , compared to 21% ( 21 % ) in 2006 and 26% ( 26 % ) in 2005 . ( dollars in millions ) 2007 2006 2005 2007 20142006 2006 20142005 years ended december 31 percent change .
|( dollars in millions )|years ended december 31 2007|years ended december 31 2006|years ended december 31 2005|years ended december 31 2007 20142006|2006 20142005|
|segment net sales|$ 10014|$ 9164|$ 9037|9% ( 9 % )|1% ( 1 % )|
|operating earnings|709|787|1232|( 10 ) % ( % )|( 36 ) % ( % )|
segment results 20142007 compared to 2006 in 2007 , the segment 2019s net sales increased 9% ( 9 % ) to $ 10.0 billion , compared to $ 9.2 billion in 2006 . the 9% ( 9 % ) increase in net sales reflects a 27% ( 27 % ) increase in net sales in the home business , partially offset by a 1% ( 1 % ) decrease in net sales of wireless networks . net sales of digital entertainment devices increased approximately 43% ( 43 % ) , reflecting increased demand for digital set-tops , including hd/dvr set-tops and ip set-tops , partially offset by a decline in asp due to a product mix shift towards all-digital set-tops . unit shipments of digital entertainment devices increased 51% ( 51 % ) to 15.2 million units . net sales of broadband gateways increased approximately 6% ( 6 % ) , primarily due to higher net sales of data modems , driven by net sales from the netopia business acquired in february 2007 . net sales of wireless networks decreased 1% ( 1 % ) , primarily driven by lower net sales of iden and cdma infrastructure equipment , partially offset by higher net sales of gsm infrastructure equipment , despite competitive pricing pressure . on a geographic basis , the 9% ( 9 % ) increase in net sales reflects higher net sales in all geographic regions . the increase in net sales in north america was driven primarily by higher sales of digital entertainment devices , partially offset by lower net sales of iden and cdma infrastructure equipment . the increase in net sales in asia was primarily due to higher net sales of gsm infrastructure equipment , partially offset by lower net sales of cdma infrastructure equipment . the increase in net sales in emea was , primarily due to higher net sales of gsm infrastructure equipment , partially offset by lower demand for iden and cdma infrastructure equipment . net sales in north america continue to comprise a significant portion of the segment 2019s business , accounting for 52% ( 52 % ) of the segment 2019s total net sales in 2007 , compared to 56% ( 56 % ) of the segment 2019s total net sales in 2006 . 60 management 2019s discussion and analysis of financial condition and results of operations .
Question: how much segmented net sales was earned in the north america in 2007?
Answer: | 5207.28 |
FINQA4261 | Please answer the given financial question based on the context.
Context: 2011 compared to 2010 mfc 2019s net sales for 2011 increased $ 533 million , or 8% ( 8 % ) , compared to 2010 . the increase was attributable to higher volume of about $ 420 million on air and missile defense programs ( primarily pac-3 and thaad ) ; and about $ 245 million from fire control systems programs primarily related to the sof clss program , which began late in the third quarter of 2010 . partially offsetting these increases were lower net sales due to decreased volume of approximately $ 75 million primarily from various services programs and approximately $ 20 million from tactical missile programs ( primarily mlrs and jassm ) . mfc 2019s operating profit for 2011 increased $ 96 million , or 10% ( 10 % ) , compared to 2010 . the increase was attributable to higher operating profit of about $ 60 million for air and missile defense programs ( primarily pac-3 and thaad ) as a result of increased volume and retirement of risks ; and approximately $ 25 million for various services programs . adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 35 million higher in 2011 compared to 2010 . backlog backlog increased in 2012 compared to 2011 mainly due to increased orders and lower sales on fire control systems programs ( primarily lantirn ae and sniper ae ) and on various services programs , partially offset by lower orders and higher sales volume on tactical missiles programs . backlog increased in 2011 compared to 2010 primarily due to increased orders on air and missile defense programs ( primarily thaad ) . trends we expect mfc 2019s net sales for 2013 will be comparable with 2012 . we expect low double digit percentage growth in air and missile defense programs , offset by an expected decline in volume on logistics services programs . operating profit and margin are expected to be comparable with 2012 results . mission systems and training our mst business segment provides surface ship and submarine combat systems ; sea and land-based missile defense systems ; radar systems ; mission systems and sensors for rotary and fixed-wing aircraft ; littoral combat ships ; simulation and training services ; unmanned technologies and platforms ; ship systems integration ; and military and commercial training systems . mst 2019s major programs include aegis , mk-41 vertical launching system ( vls ) , tpq-53 radar system , mh-60 , lcs , and ptds . mst 2019s operating results included the following ( in millions ) : .
||2012|2011|2010|
|net sales|$ 7579|$ 7132|$ 7443|
|operating profit|737|645|713|
|operating margins|9.7% ( 9.7 % )|9.0% ( 9.0 % )|9.6% ( 9.6 % )|
|backlog at year-end|10700|10500|10600|
2012 compared to 2011 mst 2019s net sales for 2012 increased $ 447 million , or 6% ( 6 % ) , compared to 2011 . the increase in net sales for 2012 was attributable to higher volume and risk retirements of approximately $ 395 million from ship and aviation system programs ( primarily ptds ; lcs ; vls ; and mh-60 ) ; about $ 115 million for training and logistics solutions programs primarily due to net sales from sim industries , which was acquired in the fourth quarter of 2011 ; and approximately $ 30 million as a result of increased volume on integrated warfare systems and sensors programs ( primarily aegis ) . partially offsetting the increases were lower net sales of approximately $ 70 million from undersea systems programs due to lower volume on an international combat system program and towed array systems ; and about $ 25 million due to lower volume on various other programs . mst 2019s operating profit for 2012 increased $ 92 million , or 14% ( 14 % ) , compared to 2011 . the increase was attributable to higher operating profit of approximately $ 175 million from ship and aviation system programs , which reflects higher volume and risk retirements on certain programs ( primarily vls ; ptds ; mh-60 ; and lcs ) and reserves of about $ 55 million for contract cost matters on ship and aviation system programs recorded in the fourth quarter of 2011 ( including the terminated presidential helicopter program ) . partially offsetting the increase was lower operating profit of approximately $ 40 million from undersea systems programs due to reduced profit booking rates on certain programs and lower volume on an international combat system program and towed array systems ; and about $ 40 million due to lower volume on various other programs . adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 150 million higher for 2012 compared to 2011. .
Question: what was the ratio of the mst 2019 change in net sales compared to msf from 2010 to 2011
Answer: | -0.58349 |
FINQA4262 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis business-specific limits . the firmwide finance committee sets asset and liability limits for each business and aged inventory limits for certain financial instruments as a disincentive to hold inventory over longer periods of time . these limits are set at levels which are close to actual operating levels in order to ensure prompt escalation and discussion among business managers and managers in our independent control and support functions on a routine basis . the firmwide finance committee reviews and approves balance sheet limits on a quarterly basis and may also approve changes in limits on an ad hoc basis in response to changing business needs or market conditions . monitoring of key metrics . we monitor key balance sheet metrics daily both by business and on a consolidated basis , including asset and liability size and composition , aged inventory , limit utilization , risk measures and capital usage . we allocate assets to businesses and review and analyze movements resulting from new business activity as well as market fluctuations . scenario analyses . we conduct scenario analyses to determine how we would manage the size and composition of our balance sheet and maintain appropriate funding , liquidity and capital positions in a variety of situations : 2030 these scenarios cover short-term and long-term time horizons using various macro-economic and firm-specific assumptions . we use these analyses to assist us in developing longer-term funding plans , including the level of unsecured debt issuances , the size of our secured funding program and the amount and composition of our equity capital . we also consider any potential future constraints , such as limits on our ability to grow our asset base in the absence of appropriate funding . 2030 through our internal capital adequacy assessment process ( icaap ) , ccar , the stress tests we are required to conduct under the dodd-frank act , and our resolution and recovery planning , we further analyze how we would manage our balance sheet and risks through the duration of a severe crisis and we develop plans to access funding , generate liquidity , and/or redeploy or issue equity capital , as appropriate . balance sheet allocation in addition to preparing our consolidated statements of financial condition in accordance with u.s . gaap , we prepare a balance sheet that generally allocates assets to our businesses , which is a non-gaap presentation and may not be comparable to similar non-gaap presentations used by other companies . we believe that presenting our assets on this basis is meaningful because it is consistent with the way management views and manages risks associated with the firm 2019s assets and better enables investors to assess the liquidity of the firm 2019s assets . the table below presents a summary of this balance sheet allocation. .
|in millions|as of december 2012|as of december 2011|
|excess liquidity ( global core excess )|$ 174622|$ 171581|
|other cash|6839|7888|
|excess liquidity and cash|181461|179469|
|secured client financing|229442|283707|
|inventory|318323|273640|
|secured financing agreements|76277|71103|
|receivables|36273|35769|
|institutional client services|430873|380512|
|icbc1|2082|4713|
|equity ( excluding icbc )|21267|23041|
|debt|25386|23311|
|receivables and other|8421|5320|
|investing & lending|57156|56385|
|total inventory and related assets|488029|436897|
|otherassets2|39623|23152|
|total assets|$ 938555|$ 923225|
1 . in january 2013 , we sold approximately 45% ( 45 % ) of our ordinary shares of icbc . 2 . includes assets related to our reinsurance business classified as held for sale as of december 2012 . see note 12 to the consolidated financial statements for further information . 62 goldman sachs 2012 annual report .
Question: what is the debt-to-asset ratio in 2011?
Answer: | 0.02525 |
FINQA4263 | Please answer the given financial question based on the context.
Context: entergy new orleans , inc . management's financial discussion and analysis entergy new orleans' receivables from 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 )|
|$ 1413|$ 1783|$ 3500|$ 9208|
money pool activity provided $ 0.4 million of entergy new orleans' operating cash flow in 2004 , provided $ 1.7 million in 2003 , and provided $ 5.7 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 net cash used in investing activities decreased $ 15.5 million in 2004 primarily due to capital expenditures related to a turbine inspection project at a fossil plant in 2003 and decreased customer service spending . net cash used in investing activities increased $ 23.2 million in 2003 compared to 2002 primarily due to the maturity of $ 14.9 million of other temporary investments in 2002 and increased construction expenditures due to increased customer service spending . financing activities net cash used in financing activities increased $ 7.0 million in 2004 primarily due to the costs and expenses related to refinancing $ 75 million of long-term debt in 2004 and an increase of $ 2.2 million in common stock dividends paid . net cash used in financing activities increased $ 1.5 million in 2003 primarily due to additional common stock dividends paid of $ 2.2 million . in july 2003 , entergy new orleans issued $ 30 million of 3.875% ( 3.875 % ) series first mortgage bonds due august 2008 and $ 70 million of 5.25% ( 5.25 % ) series first mortgage bonds due august 2013 . the proceeds from these issuances were used to redeem , prior to maturity , $ 30 million of 7% ( 7 % ) series first mortgage bonds due july 2008 , $ 40 million of 8% ( 8 % ) series bonds due march 2006 , and $ 30 million of 6.65% ( 6.65 % ) series first mortgage bonds due march 2004 . the issuances and redemptions are not shown on the cash flow statement because the proceeds from the issuances were placed in a trust for use in the redemptions and never held as cash by entergy new orleans . see note 5 to the domestic utility companies and system energy financial statements for details on long- term debt . uses of capital entergy new orleans 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 net cash flow from money pool activity for entergy new orleans' operating cash flow in the last three years?
Answer: | 7.8 |
FINQA4264 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries notes to financial statements liability to $ 60 million , and recorded the $ 2.7 million difference as a credit to interest expense . the $ 60 million remaining liability was eliminated upon payment of the cash portion of the purchase price . as of december 31 , 2016 , entergy louisiana , in connection with the waterford 3 lease obligation , had a future minimum lease payment ( reflecting an interest rate of 8.09% ( 8.09 % ) ) of $ 57.5 million , including $ 2.3 million in interest , due january 2017 that is recorded as long-term debt . in february 2017 the leases were terminated and the leased assets were conveyed to entergy louisiana . grand gulf lease obligations in 1988 , in two separate but substantially identical transactions , system energy sold and leased back undivided ownership interests in grand gulf for the aggregate sum of $ 500 million . the initial term of the leases expired in july 2015 . system energy renewed the leases for fair market value with renewal terms expiring in july 2036 . at the end of the new lease renewal terms , system energy has the option to repurchase the leased interests in grand gulf or renew the leases at fair market value . in the event that system energy does not renew or purchase the interests , system energy would surrender such interests and their associated entitlement of grand gulf 2019s capacity and energy . system energy is required to report the sale-leaseback as a financing transaction in its financial statements . for financial reporting purposes , system energy expenses the interest portion of the lease obligation and the plant depreciation . however , operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes . consistent with a recommendation contained in a ferc audit report , system energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis , resulting in a zero net balance for the regulatory asset at the end of the lease term . the amount was a net regulatory liability of $ 55.6 million and $ 55.6 million as of december 31 , 2016 and 2015 , respectively . as of december 31 , 2016 , system energy , in connection with the grand gulf sale and leaseback transactions , had future minimum lease payments ( reflecting an implicit rate of 5.13% ( 5.13 % ) ) that are recorded as long-term debt , as follows : amount ( in thousands ) .
||amount ( in thousands )|
|2017|$ 17188|
|2018|17188|
|2019|17188|
|2020|17188|
|2021|17188|
|years thereafter|257812|
|total|343752|
|less : amount representing interest|309393|
|present value of net minimum lease payments|$ 34359|
.
Question: what portion of the total future minimum lease payment for entergy louisiana will be used for interest payments?
Answer: | 0.04 |
FINQA4265 | Please answer the given financial question based on the context.
Context: part ii , item 7 in 2006 , cash provided by financing activities was $ 291 million which was primarily due to the proceeds from employee stock plans ( $ 442 million ) and an increase in debt of $ 1.5 billion partially offset by the repurchase of 17.99 million shares of schlumberger stock ( $ 1.07 billion ) and the payment of dividends to shareholders ( $ 568 million ) . schlumberger believes that at december 31 , 2006 , cash and short-term investments of $ 3.0 billion and available and unused credit facilities of $ 2.2 billion are sufficient to meet future business requirements for at least the next twelve months . summary of major contractual commitments ( stated in millions ) .
|contractual commitments|total|payment period 2007|payment period 2008 - 2009|payment period 2010 - 2011|payment period after 2011|
|debt1|$ 5986|$ 1322|$ 2055|$ 1961|$ 648|
|operating leases|$ 691|$ 191|$ 205|$ 106|$ 189|
|purchase obligations2|$ 1526|$ 1490|$ 36|$ 2013|$ 2013|
purchase obligations 2 $ 1526 $ 1490 $ 36 $ 2013 $ 2013 1 . excludes future payments for interest . includes amounts relating to the $ 1425 million of convertible debentures which are described in note 11 of the consolidated financial statements . 2 . represents an estimate of contractual obligations in the ordinary course of business . although these contractual obligations are considered enforceable and legally binding , the terms generally allow schlumberger the option to reschedule and adjust their requirements based on business needs prior to the delivery of goods . refer to note 4 of the consolidated financial statements for details regarding potential commitments associated with schlumberger 2019s prior business acquisitions . refer to note 20 of the consolidated financial statements for details regarding schlumberger 2019s pension and other postretirement benefit obligations . schlumberger has outstanding letters of credit/guarantees which relate to business performance bonds , custom/excise tax commitments , facility lease/rental obligations , etc . these were entered into in the ordinary course of business and are customary practices in the various countries where schlumberger operates . critical accounting policies and estimates the preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the united states requires schlumberger to make estimates and assumptions that affect the reported amounts of assets and liabilities , the disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses . the following accounting policies involve 201ccritical accounting estimates 201d because they are particularly dependent on estimates and assumptions made by schlumberger about matters that are inherently uncertain . a summary of all of schlumberger 2019s significant accounting policies is included in note 2 to the consolidated financial statements . schlumberger bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances , the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources . actual results may differ from these estimates under different assumptions or conditions . multiclient seismic data the westerngeco segment capitalizes the costs associated with obtaining multiclient seismic data . the carrying value of the multiclient seismic data library at december 31 , 2006 , 2005 and 2004 was $ 227 million , $ 222 million and $ 347 million , respectively . such costs are charged to cost of goods sold and services based on the percentage of the total costs to the estimated total revenue that schlumberger expects to receive from the sales of such data . however , except as described below under 201cwesterngeco purchase accounting , 201d under no circumstance will an individual survey carry a net book value greater than a 4-year straight-lined amortized value. .
Question: what percentage of debt repayment will take place during 2008-2009?
Answer: | 0.3433 |
FINQA4266 | Please answer the given financial question based on the context.
Context: agreements . deferred financing costs amounted to $ 51 million and $ 60 million , net of accumulated amortization , as of december 31 , 2007 and 2006 , respectively . amortization of deferred financing costs totaled $ 13 million , $ 15 million and $ 14 million in 2007 , 2006 and 2005 , respectively , and is included in interest expense on the accompanying statements of operations . amortization of property and equipment under capital leases totaled $ 2 million , $ 2 million and $ 3 million in 2007 , 2006 and 2005 , respectively , and is included in depreciation and amortization on the accompanying consolidated state- ments of operations . 5 stockholders 2019 equity seven hundred fifty million shares of common stock , with a par value of $ 0.01 per share , are authorized , of which 522.6 million and 521.1 million were outstanding as of december 31 , 2007 and 2006 , respectively . fifty million shares of no par value preferred stock are authorized , with 4.0 million shares out- standing as of december 31 , 2007 and 2006 . dividends we are required to distribute at least 90% ( 90 % ) of our annual taxable income , excluding net capital gain , to qualify as a reit . however , our policy on common dividends is generally to distribute 100% ( 100 % ) of our estimated annual taxable income , including net capital gain , unless otherwise contractually restricted . for our preferred dividends , we will generally pay the quarterly dividend , regard- less of the amount of taxable income , unless similarly contractu- ally restricted . the amount of any dividends will be determined by host 2019s board of directors . all dividends declared in 2007 , 2006 and 2005 were determined to be ordinary income . the table below presents the amount of common and preferred dividends declared per share as follows: .
||2007|2006|2005|
|common stock|$ 1.00|$ .76|$ .41|
|class b preferred stock 10% ( 10 % )|2014|2014|.87|
|class c preferred stock 10% ( 10 % )|2014|.625|2.50|
|class e preferred stock 87/8% ( 87/8 % )|2.22|2.22|2.22|
class e preferred stock 8 7/8% ( 7/8 % ) 2.22 2.22 2.22 common stock on april 10 , 2006 , we issued approximately 133.5 million com- mon shares for the acquisition of hotels from starwood hotels & resorts . see note 12 , acquisitions-starwood acquisition . during 2006 , we converted our convertible subordinated debentures into approximately 24 million shares of common stock . the remainder was redeemed for $ 2 million in april 2006 . see note 4 , debt . preferred stock we currently have one class of publicly-traded preferred stock outstanding : 4034400 shares of 8 7/8% ( 7/8 % ) class e preferred stock . holders of the preferred stock are entitled to receive cumulative cash dividends at 8 7/8% ( 7/8 % ) per annum of the $ 25.00 per share liqui- dation preference , which are payable quarterly in arrears . after june 2 , 2009 , we have the option to redeem the class e preferred stock for $ 25.00 per share , plus accrued and unpaid dividends to the date of redemption . the preferred stock ranks senior to the common stock and the authorized series a junior participating preferred stock ( discussed below ) . the preferred stockholders generally have no voting rights . accrued preferred dividends at december 31 , 2007 and 2006 were approximately $ 2 million . during 2006 and 2005 , we redeemed , at par , all of our then outstanding shares of class c and b cumulative preferred stock , respectively . the fair value of the preferred stock ( which was equal to the redemption price ) exceeded the carrying value of the class c and b preferred stock by approximately $ 6 million and $ 4 million , respectively . these amounts represent the origi- nal issuance costs . the original issuance costs for the class c and b preferred stock have been reflected in the determination of net income available to common stockholders for the pur- pose of calculating our basic and diluted earnings per share in the respective years of redemption . stockholders rights plan in 1998 , the board of directors adopted a stockholder rights plan under which a dividend of one preferred stock purchase right was distributed for each outstanding share of our com- mon stock . each right when exercisable entitles the holder to buy 1/1000th of a share of a series a junior participating pre- ferred stock of ours at an exercise price of $ 55 per share , subject to adjustment . the rights are exercisable 10 days after a person or group acquired beneficial ownership of at least 20% ( 20 % ) , or began a tender or exchange offer for at least 20% ( 20 % ) , of our com- mon stock . shares owned by a person or group on november 3 , 1998 and held continuously thereafter are exempt for purposes of determining beneficial ownership under the rights plan . the rights are non-voting and expire on november 22 , 2008 , unless exercised or previously redeemed by us for $ .005 each . if we were involved in a merger or certain other business combina- tions not approved by the board of directors , each right entitles its holder , other than the acquiring person or group , to purchase common stock of either our company or the acquiror having a value of twice the exercise price of the right . stock repurchase plan our board of directors has authorized a program to repur- chase up to $ 500 million of common stock . the common stock may be purchased in the open market or through private trans- actions , dependent upon market conditions . the plan does not obligate us to repurchase any specific number of shares and may be suspended at any time at management 2019s discretion . 6 income taxes we elected to be treated as a reit effective january 1 , 1999 , pursuant to the u.s . internal revenue code of 1986 , as amended . in general , a corporation that elects reit status and meets certain tax law requirements regarding the distribution of its taxable income to its stockholders as prescribed by applicable tax laws and complies with certain other requirements ( relating primarily to the nature of its assets and the sources of its revenues ) is generally not subject to federal and state income taxation on its operating income distributed to its stockholders . in addition to paying federal and state income taxes on any retained income , we are subject to taxes on 201cbuilt-in-gains 201d resulting from sales of certain assets . additionally , our taxable reit subsidiaries are subject to federal , state and foreign 63h o s t h o t e l s & r e s o r t s 2 0 0 7 60629p21-80x4 4/8/08 4:02 pm page 63 .
Question: what was the percent of the increase in the common stock dividend from 2006 to 2007
Answer: | 1.7313 |
FINQA4267 | 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: what was the percentage cumulative total shareholder return on disca common stock for the five year period ended december 31 , 2017?
Answer: | -0.3099 |
FINQA4268 | Please answer the given financial question based on the context.
Context: stock-based compensation 2013 we have several stock-based compensation plans under which employees and non-employee directors receive stock options , nonvested retention shares , and nonvested stock units . we refer to the nonvested shares and stock units collectively as 201cretention awards 201d . we issue treasury shares to cover option exercises and stock unit vestings , while new shares are issued when retention shares vest . we adopted fasb statement no . 123 ( r ) , share-based payment ( fas 123 ( r ) ) , on january 1 , 2006 . fas 123 ( r ) requires us to measure and recognize compensation expense for all stock-based awards made to employees and directors , including stock options . compensation expense is based on the calculated fair value of the awards as measured at the grant date and is expensed ratably over the service period of the awards ( generally the vesting period ) . the fair value of retention awards is the stock price on the date of grant , while the fair value of stock options is determined by using the black-scholes option pricing model . we elected to use the modified prospective transition method as permitted by fas 123 ( r ) and did not restate financial results for prior periods . we did not make an adjustment for the cumulative effect of these estimated forfeitures , as the impact was not material . as a result of the adoption of fas 123 ( r ) , we recognized expense for stock options in 2006 , in addition to retention awards , which were expensed prior to 2006 . stock-based compensation expense for the year ended december 31 , 2006 was $ 22 million , after tax , or $ 0.08 per basic and diluted share . this includes $ 9 million for stock options and $ 13 million for retention awards for 2006 . before taxes , stock-based compensation expense included $ 14 million for stock options and $ 21 million for retention awards for 2006 . we recorded $ 29 million of excess tax benefits as an inflow of financing activities in the consolidated statement of cash flows for the year ended december 31 , 2006 . prior to the adoption of fas 123 ( r ) , we applied the recognition and measurement principles of accounting principles board opinion no . 25 , accounting for stock issued to employees , and related interpretations . no stock- based employee compensation expense related to stock option grants was reflected in net income , as all options granted under those plans had a grant price equal to the market value of our common stock on the date of grant . stock-based compensation expense related to retention shares , stock units , and other incentive plans was reflected in net income . the following table details the effect on net income and earnings per share had compensation expense for all of our stock-based awards , including stock options , been recorded in the years ended december 31 , 2005 and 2004 based on the fair value method under fasb statement no . 123 , accounting for stock-based compensation . pro forma stock-based compensation expense year ended december 31 , millions of dollars , except per share amounts 2005 2004 .
|pro forma stock-based compensation expense|pro forma stock-based compensation expense||
|millions of dollars except per share amounts|2005|2004|
|net income as reported|$ 1026|$ 604|
|stock-based employee compensation expense reported in net income net of tax|13|13|
|total stock-based employee compensation expense determined under fair value 2013based method for allawards net of tax [a]|-50 ( 50 )|-35 ( 35 )|
|pro forma net income|$ 989|$ 582|
|earnings per share 2013 basic as reported|$ 3.89|$ 2.33|
|earnings per share 2013 basic pro forma|$ 3.75|$ 2.25|
|earnings per share 2013 diluted as reported|$ 3.85|$ 2.30|
|earnings per share 2013 diluted pro forma|$ 3.71|$ 2.22|
[a] stock options for executives granted in 2003 and 2002 included a reload feature . this reload feature allowed executives to exercise their options using shares of union pacific corporation common stock that they already owned and obtain a new grant of options in the amount of the shares used for exercise plus any shares withheld for tax purposes . the reload feature of these option grants could only be exercised if the .
Question: what was the percentage of the increase in the basic earnings per share 2013 as reported from 2005 to 2006
Answer: | 0.66953 |
FINQA4269 | Please answer the given financial question based on the context.
Context: table of contents extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness , including cash interest charges and non-cash write offs of unamortized debt issuance costs . as a result of the 2013 refinancing activities and the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes in 2014 , we recognized $ 100 million less interest expense in 2014 as compared to the 2013 period . other nonoperating expense , net in 2014 consisted principally of net foreign currency losses of $ 114 million and early debt extinguishment charges of $ 56 million . other nonoperating expense , net in 2013 consisted principally of net foreign currency losses of $ 56 million and early debt extinguishment charges of $ 29 million . other nonoperating expense , net increased $ 64 million , or 73.1% ( 73.1 % ) , during 2014 primarily due to special charges recognized as a result of early debt extinguishment and an increase in foreign currency losses driven by the strengthening of the u.s . dollar in foreign currency transactions , principally in latin american markets . we recorded a $ 43 million special charge for venezuelan foreign currency losses in 2014 . see part ii , item 7a . quantitative and qualitative disclosures about market risk for further discussion of our cash held in venezuelan bolivars . in addition , our 2014 nonoperating special items included $ 56 million primarily related to the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes and other indebtedness . reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases . the following table summarizes the components included in reorganization items , net on aag 2019s consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : .
||2013|
|labor-related deemed claim ( 1 )|$ 1733|
|aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )|325|
|fair value of conversion discount ( 4 )|218|
|professional fees|199|
|other|180|
|total reorganization items net|$ 2655|
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , we agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees . each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes . the total value of this deemed claim was approximately $ 1.7 billion . ( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds . the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify such financing or facility agreement and the debtors believed that it was probable the motion would be approved , and there was sufficient information to estimate the claim . see note 2 to aag 2019s consolidated financial statements in part ii , item 8a for further information . ( 3 ) pursuant to the plan , the debtors agreed to allow certain post-petition unsecured claims on obligations . as a result , during the year ended december 31 , 2013 , we recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $ 180 million , allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at jfk , and rejected bonds that financed certain improvements at ord , which are included in the table above. .
Question: what was the ratio of the labor-related deemed claim to the professional fees as part of the re-organization
Answer: | 0.87085 |
FINQA4270 | Please answer the given financial question based on the context.
Context: 2022 the failure of our information systems to function as intended or their penetration by outside parties with the intent to corrupt them or our failure to comply with privacy laws and regulations could result in business disruption , litigation and regulatory action , and loss of revenue , assets or personal or other confidential data . we use information systems to help manage business processes , collect and interpret business data and communicate internally and externally with employees , suppliers , customers and others . some of these information systems are managed by third-party service providers . we have backup systems and business continuity plans in place , and we take care to protect our systems and data from unauthorized access . nevertheless , failure of our systems to function as intended , or penetration of our systems by outside parties intent on extracting or corrupting information or otherwise disrupting business processes , could place us at a competitive disadvantage , result in a loss of revenue , assets or personal or other sensitive data , litigation and regulatory action , cause damage to our reputation and that of our brands and result in significant remediation and other costs . failure to protect personal data and respect the rights of data subjects could subject us to substantial fines under regulations such as the eu general data protection regulation . 2022 we may be required to replace third-party contract manufacturers or service providers with our own resources . in certain instances , we contract with third parties to manufacture some of our products or product parts or to provide other services . we may be unable to renew these agreements on satisfactory terms for numerous reasons , including government regulations . accordingly , our costs may increase significantly if we must replace such third parties with our own resources . item 1b . unresolved staff comments . item 2 . properties . at december 31 , 2017 , we operated and owned 46 manufacturing facilities and maintained contract manufacturing relationships with 25 third-party manufacturers across 23 markets . in addition , we work with 38 third-party operators in indonesia who manufacture our hand-rolled cigarettes . pmi-owned manufacturing facilities eema asia america canada total .
||eu ( 1 )|eema|asia|latinamerica&canada|total|
|fully integrated|7|8|9|7|31|
|make-pack|3|2014|1|2|6|
|other|3|1|3|2|9|
|total|13|9|13|11|46|
( 1 ) includes facilities that produced heated tobacco units in 2017 . in 2017 , 23 of our facilities each manufactured over 10 billion cigarettes , of which eight facilities each produced over 30 billion units . our largest factories are in karawang and sukorejo ( indonesia ) , izmir ( turkey ) , krakow ( poland ) , st . petersburg and krasnodar ( russia ) , batangas and marikina ( philippines ) , berlin ( germany ) , kharkiv ( ukraine ) , and kutna hora ( czech republic ) . our smallest factories are mostly in latin america and asia , where due to tariff and other constraints we have established small manufacturing units in individual markets . we will continue to optimize our manufacturing base , taking into consideration the evolution of trade blocks . the plants and properties owned or leased and operated by our subsidiaries are maintained in good condition and are believed to be suitable and adequate for our present needs . we are integrating the production of heated tobacco units into a number of our existing manufacturing facilities and progressing with our plans to build manufacturing capacity for our other rrp platforms. .
Question: what percentage of pmi-owned manufacturing facilities eema asia america canada are in asia?
Answer: | 0.28261 |
FINQA4271 | Please answer the given financial question based on the context.
Context: under this line are primarily used by our european subsidiaries to settle intercompany sales and are denominated in the respective local currencies of its european subsidiaries . the line of credit may be canceled by the bank with 30 days notice . at september 27 , 2003 , there were no outstanding borrowings under this line . in september 2001 we obtained a secured loan from wells fargo foothill , inc . the loan agreement with wells fargo foothill , inc . provides for a term loan of approximately $ 2.4 million , which we borrowed at signing , and a revolving line of credit facility . the maximum amount we can borrow under the loan agreement and amendments is $ 20.0 million . the loan agreement and amendments contain financial and other covenants and the actual amount which we can borrow under the line of credit at any time is based upon a formula tied to the amount of our qualifying accounts receivable . in july 2003 we amended this loan agreement primarily to simplify financial covenants and to reduce the fees related to this facility . the term loan accrues interest at prime plus 1.0% ( 1.0 % ) for five years . the line of credit advances accrue interest at prime plus 0.25% ( 0.25 % ) . the line of credit expires in september 2005 . we were in compliance with all covenants as of september 27 , 2003 . in april 2002 , we began an implementation project for an integrated enterprise wide software application . we began operational use of this software application at the bedford , ma and newark , de facilities on november 24 , 2002 , at the danbury , ct facility on february 24 , 2003 and at the brussels , belgium location on october 2 , 2003 . through september 27 , 2003 we have made payments totaling $ 3.4 million for hardware , software and consulting services representing substantially all of our capital commitments related to this implementation project . most of the cost has been capitalized and we began to amortize these costs over their expected useful lives in december 2002 . in september 2002 , we completed a sale/leaseback transaction for our headquarters and manufacturing facility located in bedford , massachusetts and our lorad manufacturing facility in danbury , connecticut . the transaction resulted in net proceeds to us of $ 31.4 million . the new lease for these facilities , including the associated land , has a term of 20 years , with four five-year year renewal terms , which we may exercise at our option . the basic rent for the facilities is $ 3.2 million per year , which is subject to adjustment for increases in the consumer price index . the aggregate total minimum lease payments during the initial 20-year term are $ 62.9 million . in addition , we are required to maintain the facilities during the term of the lease and to pay all taxes , insurance , utilities and other costs associated with those facilities . under the lease , we make customary representations and warranties and agree to certain financial covenants and indemnities . in the event we default on the lease , the landlord may terminate the lease , accelerate payments and collect liquidated damages . the following table summarizes our contractual obligations and commitments as of september 27 , 2003 : payments due by period ( in thousands ) contractual obligations total less than 1 year years thereafter .
|contractual obligations|payments due by period ( in thousands ) total|payments due by period ( in thousands ) less than 1 year|payments due by period ( in thousands ) 2-3 years|payments due by period ( in thousands ) 4-5 years|payments due by period ( in thousands ) thereafter|
|long term debt|$ 2030|$ 480|$ 1550|$ 2014|$ 2014|
|operating leases|$ 62934|$ 4371|$ 8160|$ 6482|$ 43921|
|total contractual cash obligations|$ 64964|$ 4851|$ 9710|$ 6482|$ 43921|
except as set forth above , we do not have any other significant capital commitments . we are working on several projects , with an emphasis on direct radiography plates . we believe that we have sufficient funds in order to fund our expected operations over the next twelve months . recent accounting pronouncements in december 2002 , sfas no . 148 , accounting for stock-based compensation 2013 transition and disclosure was issued . sfas no . 148 amends sfas no . 123 to provide alternative methods of transition to the fair value method of accounting for stock-based employee compensation . in addition , sfas no . 148 amends the disclosure provisions of sfas no . 123 to require disclosure in the summary of significant accounting policies of the effects .
Question: what percentage of total contractual obligations and commitments as of september 27 , 2003 : payments due is composed of operating leases?
Answer: | 0.96875 |
FINQA4272 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis 128 jpmorgan chase & co./2010 annual report year ended december 31 .
|( in millions )|2010|2009|2008|
|hedges of lending-related commitments ( a )|$ -279 ( 279 )|$ -3258 ( 3258 )|$ 2216|
|cva and hedges of cva ( a )|-403 ( 403 )|1920|-2359 ( 2359 )|
|net gains/ ( losses )|$ -682 ( 682 )|$ -1338 ( 1338 )|$ -143 ( 143 )|
( a ) these hedges do not qualify for hedge accounting under u.s . gaap . lending-related commitments jpmorgan chase uses lending-related financial instruments , such as commitments and guarantees , to meet the financing needs of its customers . the contractual amount of these financial instruments represents the maximum possible credit risk should the counterpar- ties draw down on these commitments or the firm fulfills its obliga- tion under these guarantees , and should the counterparties subsequently fail to perform according to the terms of these con- tracts . wholesale lending-related commitments were $ 346.1 billion at december 31 , 2010 , compared with $ 347.2 billion at december 31 , 2009 . the decrease reflected the january 1 , 2010 , adoption of accounting guidance related to vies . excluding the effect of the accounting guidance , lending-related commitments would have increased by $ 16.6 billion . in the firm 2019s view , the total contractual amount of these wholesale lending-related commitments is not representative of the firm 2019s actual credit risk exposure or funding requirements . in determining the amount of credit risk exposure the firm has to wholesale lend- ing-related commitments , which is used as the basis for allocating credit risk capital to these commitments , the firm has established a 201cloan-equivalent 201d amount for each commitment ; this amount represents the portion of the unused commitment or other contin- gent exposure that is expected , based on average portfolio histori- cal experience , to become drawn upon in an event of a default by an obligor . the loan-equivalent amounts of the firm 2019s lending- related commitments were $ 189.9 billion and $ 179.8 billion as of december 31 , 2010 and 2009 , respectively . country exposure the firm 2019s wholesale portfolio includes country risk exposures to both developed and emerging markets . the firm seeks to diversify its country exposures , including its credit-related lending , trading and investment activities , whether cross-border or locally funded . country exposure under the firm 2019s internal risk management ap- proach is reported based on the country where the assets of the obligor , counterparty or guarantor are located . exposure amounts , including resale agreements , are adjusted for collateral and for credit enhancements ( e.g. , guarantees and letters of credit ) pro- vided by third parties ; outstandings supported by a guarantor located outside the country or backed by collateral held outside the country are assigned to the country of the enhancement provider . in addition , the effect of credit derivative hedges and other short credit or equity trading positions are taken into consideration . total exposure measures include activity with both government and private-sector entities in a country . the firm also reports country exposure for regulatory purposes following ffiec guidelines , which are different from the firm 2019s internal risk management approach for measuring country expo- sure . for additional information on the ffiec exposures , see cross- border outstandings on page 314 of this annual report . several european countries , including greece , portugal , spain , italy and ireland , have been subject to credit deterioration due to weak- nesses in their economic and fiscal situations . the firm is closely monitoring its exposures to these five countries . aggregate net exposures to these five countries as measured under the firm 2019s internal approach was less than $ 15.0 billion at december 31 , 2010 , with no country representing a majority of the exposure . sovereign exposure in all five countries represented less than half the aggregate net exposure . the firm currently believes its exposure to these five countries is modest relative to the firm 2019s overall risk expo- sures and is manageable given the size and types of exposures to each of the countries and the diversification of the aggregate expo- sure . the firm continues to conduct business and support client activity in these countries and , therefore , the firm 2019s aggregate net exposures may vary over time . in addition , the net exposures may be impacted by changes in market conditions , and the effects of interest rates and credit spreads on market valuations . as part of its ongoing country risk management process , the firm monitors exposure to emerging market countries , and utilizes country stress tests to measure and manage the risk of extreme loss associated with a sovereign crisis . there is no common definition of emerging markets , but the firm generally includes in its definition those countries whose sovereign debt ratings are equivalent to 201ca+ 201d or lower . the table below presents the firm 2019s exposure to its top 10 emerging markets countries based on its internal measure- ment approach . the selection of countries is based solely on the firm 2019s largest total exposures by country and does not represent its view of any actual or potentially adverse credit conditions. .
Question: what was the percent of the net gains and losses from cva and hedges of cva ( a )
Answer: | 0.59091 |
FINQA4273 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements ( continued ) note 8 2014commitments and contingencies ( continued ) provide renewal options for terms of 3 to 7 additional years . leases for retail space are for terms of 5 to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options . as of september 29 , 2007 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 1.4 billion , of which $ 1.1 billion related to leases for retail space . rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 151 million , $ 138 million , and $ 140 million in 2007 , 2006 , and 2005 , respectively . future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 29 , 2007 , are as follows ( in millions ) : fiscal years .
|2008|$ 155|
|2009|172|
|2010|173|
|2011|160|
|2012|148|
|thereafter|617|
|total minimum lease payments|$ 1425|
accrued warranty and indemnifications the company offers a basic limited parts and labor warranty on its hardware products . the basic warranty period for hardware products is typically one year from the date of purchase by the end-user . the company also offers a 90-day basic warranty for its service parts used to repair the company 2019s hardware products . the company provides currently for the estimated cost that may be incurred under its basic limited product warranties at the time related revenue is recognized . factors considered in determining appropriate accruals for product warranty obligations include the size of the installed base of products subject to warranty protection , historical and projected warranty claim rates , historical and projected cost-per-claim , and knowledge of specific product failures that are outside of the company 2019s typical experience . the company assesses the adequacy of its preexisting warranty liabilities and adjusts the amounts as necessary based on actual experience and changes in future estimates . for products accounted for under subscription accounting pursuant to sop no . 97-2 , the company recognizes warranty expense as incurred . the company periodically provides updates to its applications and system software to maintain the software 2019s compliance with specifications . the estimated cost to develop such updates is accounted for as warranty costs that are recognized at the time related software revenue is recognized . factors considered in determining appropriate accruals related to such updates include the number of units delivered , the number of updates expected to occur , and the historical cost and estimated future cost of the resources necessary to develop these updates. .
Question: what percentage of future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year are due in 2010?
Answer: | 0.1214 |
FINQA4274 | Please answer the given financial question based on the context.
Context: there were no changes in the company 2019s valuation techniques used to measure fair values on a recurring basis as a result of adopting asc 820 . pca had no assets or liabilities that were measured on a nonrecurring basis . 11 . stockholders 2019 equity on october 17 , 2007 , pca announced that its board of directors authorized a $ 150.0 million common stock repurchase program . there is no expiration date for the common stock repurchase program . through december 31 , 2008 , the company repurchased 3818729 shares of common stock , with 3142600 shares repurchased during 2008 and 676129 shares repurchased during 2007 . all repurchased shares were retired prior to december 31 , 2008 . there were no shares repurchased in 2009 . as of december 31 , 2009 , $ 65.0 million of the $ 150.0 million authorization remained available for repurchase of the company 2019s common stock . 12 . commitments and contingencies capital commitments the company had authorized capital commitments of approximately $ 41.7 million and $ 43.0 million as of december 31 , 2009 and 2008 , respectively , in connection with the expansion and replacement of existing facilities and equipment . in addition , commitments at december 31 , 2009 for the major energy optimization projects at its counce and valdosta mills totaled $ 156.3 million . lease obligations pca leases space for certain of its facilities and cutting rights to approximately 91000 acres of timberland under long-term leases . the company also leases equipment , primarily vehicles and rolling stock , and other assets under long-term leases with a duration of two to seven years . the minimum lease payments under non-cancelable operating leases with lease terms in excess of one year are as follows: .
||( in thousands )|
|2010|$ 28162|
|2011|25181|
|2012|17338|
|2013|11557|
|2014|7742|
|thereafter|18072|
|total|$ 108052|
total lease expense , including base rent on all leases and executory costs , such as insurance , taxes , and maintenance , for the years ended december 31 , 2009 , 2008 and 2007 was $ 41.3 million , $ 41.6 million and $ 39.8 million , respectively . these costs are included in cost of goods sold and selling and administrative expenses . pca was obligated under capital leases covering buildings and machinery and equipment in the amount of $ 23.1 million and $ 23.7 million at december 31 , 2009 and 2008 , respectively . during the fourth quarter of 2008 , the company entered into a capital lease relating to buildings and machinery , totaling $ 23.9 million , payable over 20 years . this capital lease amount is a non-cash transaction and , accordingly , has been excluded packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2009 .
Question: as of december 31 , 2009 , what percentage of the $ 150.0 million authorization remained available for repurchase of the company 2019s common stock?
Answer: | 0.43333 |
FINQA4275 | Please answer the given financial question based on the context.
Context: entergy gulf states louisiana , l.l.c . management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities . results of operations net income 2011 compared to 2010 net income increased $ 12.3 million primarily due to lower interest expense and lower other operation and maintenance expenses , offset by higher depreciation and amortization expenses and a higher effective income tax 2010 compared to 2009 net income increased $ 37.7 million primarily due to higher net revenue , a lower effective income tax rate , and lower interest expense , offset by higher other operation and maintenance expenses , lower other income , and higher taxes other than income taxes . net revenue 2011 compared to 2010 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory credits . following is an analysis of the change in net revenue comparing 2011 to 2010 . amount ( in millions ) .
||amount ( in millions )|
|2010 net revenue|$ 933.6|
|retail electric price|-20.1 ( 20.1 )|
|volume/weather|-5.2 ( 5.2 )|
|fuel recovery|14.8|
|transmission revenue|12.4|
|other|-2.1 ( 2.1 )|
|2011 net revenue|$ 933.4|
the retail electric price variance is primarily due to an increase in credits passed on to customers as a result of the act 55 storm cost financing . see 201cmanagement 2019s financial discussion and analysis 2013 hurricane gustav and hurricane ike 201d and note 2 to the financial statements for a discussion of the act 55 storm cost financing . the volume/weather variance is primarily due to less favorable weather on the residential sector as well as the unbilled sales period . the decrease was partially offset by an increase of 62 gwh , or 0.3% ( 0.3 % ) , in billed electricity usage , primarily due to increased consumption by an industrial customer as a result of the customer 2019s cogeneration outage and the addition of a new production unit by the industrial customer . the fuel recovery variance resulted primarily from an adjustment to deferred fuel costs in 2010 . see note 2 to the financial statements for a discussion of fuel recovery. .
Question: by what percentage point did the net income margin improve in 2010?
Answer: | 0.04038 |
FINQA4276 | Please answer the given financial question based on the context.
Context: table of contents the notional amounts for outstanding derivative instruments provide one measure of the transaction volume outstanding and do not represent the amount of the company 2019s exposure to credit or market loss . the credit risk amounts represent the company 2019s gross exposure to potential accounting loss on derivative instruments that are outstanding or unsettled if all counterparties failed to perform according to the terms of the contract , based on then-current currency or interest rates at each respective date . the company 2019s exposure to credit loss and market risk will vary over time as currency and interest rates change . although the table above reflects the notional and credit risk amounts of the company 2019s derivative instruments , it does not reflect the gains or losses associated with the exposures and transactions that the instruments are intended to hedge . the amounts ultimately realized upon settlement of these financial instruments , together with the gains and losses on the underlying exposures , will depend on actual market conditions during the remaining life of the instruments . the company generally enters into master netting arrangements , which are designed to reduce credit risk by permitting net settlement of transactions with the same counterparty . to further limit credit risk , the company generally enters into collateral security arrangements that provide for collateral to be received or posted when the net fair value of certain financial instruments fluctuates from contractually established thresholds . the company presents its derivative assets and derivative liabilities at their gross fair values in its consolidated balance sheets . the net cash collateral received by the company related to derivative instruments under its collateral security arrangements was $ 1.0 billion as of september 26 , 2015 and $ 2.1 billion as of september 27 , 2014 . under master netting arrangements with the respective counterparties to the company 2019s derivative contracts , the company is allowed to net settle transactions with a single net amount payable by one party to the other . as of september 26 , 2015 and september 27 , 2014 , the potential effects of these rights of set-off associated with the company 2019s derivative contracts , including the effects of collateral , would be a reduction to both derivative assets and derivative liabilities of $ 2.2 billion and $ 1.6 billion , respectively , resulting in net derivative liabilities of $ 78 million and $ 549 million , respectively . accounts receivable receivables the company has considerable trade receivables outstanding with its third-party cellular network carriers , wholesalers , retailers , value-added resellers , small and mid-sized businesses and education , enterprise and government customers . the company generally does not require collateral from its customers ; however , the company will require collateral in certain instances to limit credit risk . in addition , when possible , the company attempts to limit credit risk on trade receivables with credit insurance for certain customers or by requiring third-party financing , loans or leases to support credit exposure . these credit-financing arrangements are directly between the third-party financing company and the end customer . as such , the company generally does not assume any recourse or credit risk sharing related to any of these arrangements . as of september 26 , 2015 , the company had one customer that represented 10% ( 10 % ) or more of total trade receivables , which accounted for 12% ( 12 % ) . as of september 27 , 2014 , the company had two customers that represented 10% ( 10 % ) or more of total trade receivables , one of which accounted for 16% ( 16 % ) and the other 13% ( 13 % ) . the company 2019s cellular network carriers accounted for 71% ( 71 % ) and 72% ( 72 % ) of trade receivables as of september 26 , 2015 and september 27 , 2014 , respectively . vendor non-trade receivables the company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of components to these vendors who manufacture sub-assemblies or assemble final products for the company . the company purchases these components directly from suppliers . vendor non-trade receivables from three of the company 2019s vendors accounted for 38% ( 38 % ) , 18% ( 18 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 26 , 2015 and three of the company 2019s vendors accounted for 51% ( 51 % ) , 16% ( 16 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 27 , 2014 . note 3 2013 consolidated financial statement details the following tables show the company 2019s consolidated financial statement details as of september 26 , 2015 and september 27 , 2014 ( in millions ) : property , plant and equipment , net .
||2015|2014|
|land and buildings|$ 6956|$ 4863|
|machinery equipment and internal-use software|37038|29639|
|leasehold improvements|5263|4513|
|gross property plant and equipment|49257|39015|
|accumulated depreciation and amortization|-26786 ( 26786 )|-18391 ( 18391 )|
|total property plant and equipment net|$ 22471|$ 20624|
apple inc . | 2015 form 10-k | 53 .
Question: what is the net change in total property plant and equipment net from 2014 to 2015 in millions?
Answer: | 1847.0 |
FINQA4277 | Please answer the given financial question based on the context.
Context: notes to the audited consolidated financial statements director stock compensation subplan eastman's 2016 director stock compensation subplan ( "directors' subplan" ) , a component of the 2012 omnibus plan , remains in effect until terminated by the board of directors or the earlier termination of thf e 2012 omnibus plan . the directors' subplan provides for structured awards of restricted shares to non-employee members of the board of directors . restricted shares awarded under the directors' subplan are subject to the same terms and conditions of the 2012 omnibus plan . the directors' subplan does not constitute a separate source of shares for grant of equity awards and all shares awarded are part of the 10 million shares authorized under the 2012 omnibus plan . shares of restricted stock are granted on the first day of a non-f employee director's initial term of service and shares of restricted stock are granted each year to each non-employee director on the date of the annual meeting of stockholders . general the company is authorized by the board of directors under the 2012 omnibus plan tof provide awards to employees and non- employee members of the board of directors . it has been the company's practice to issue new shares rather than treasury shares for equity awards that require settlement by the issuance of common stock and to withhold or accept back shares awarded to cover the related income tax obligations of employee participants . shares of unrestricted common stock owned by non-d employee directors are not eligible to be withheld or acquired to satisfy the withholding obligation related to their income taxes . aa shares of unrestricted common stock owned by specified senior management level employees are accepted by the company to pay the exercise price of stock options in accordance with the terms and conditions of their awards . for 2016 , 2015 , and 2014 , total share-based compensation expense ( before tax ) of approximately $ 36 million , $ 36 million , and $ 28 million , respectively , was recognized in selling , general and administrative exd pense in the consolidated statements of earnings , comprehensive income and retained earnings for all share-based awards of which approximately $ 7 million , $ 7 million , and $ 4 million , respectively , related to stock options . the compensation expense is recognized over the substantive vesting period , which may be a shorter time period than the stated vesting period for qualifying termination eligible employees as defined in the forms of award notice . for 2016 , 2015 , and 2014 , approximately $ 2 million , $ 2 million , and $ 1 million , respectively , of stock option compensation expense was recognized due to qualifying termination eligibility preceding the requisite vesting period . stock option awards options have been granted on an annual basis to non-employee directors under the directors' subplan and predecessor plans and by the compensation and management development committee of the board of directors under the 2012 omnibus plan and predecessor plans to employees . option awards have an exercise price equal to the closing price of the company's stock on the date of grant . the term of options is 10 years with vesting periods thf at vary up to three years . vesting usually occurs ratably over the vesting period or at the end of the vesting period . the company utilizes the black scholes merton option valuation model which relies on certain assumptions to estimate an option's fair value . the weighted average assumptions used in the determination of fair value for stock options awarded in 2016 , 2015 , and 2014 are provided in the table below: .
|assumptions|2016|2015|2014|
|expected volatility rate|23.71% ( 23.71 % )|24.11% ( 24.11 % )|25.82% ( 25.82 % )|
|expected dividend yield|2.31% ( 2.31 % )|1.75% ( 1.75 % )|1.70% ( 1.70 % )|
|average risk-free interest rate|1.23% ( 1.23 % )|1.45% ( 1.45 % )|1.44% ( 1.44 % )|
|expected term years|5.0|4.8|4.7|
.
Question: what is the percent change in total share-based compensation expense between 2014 and 2015?
Answer: | 0.28571 |
FINQA4278 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries notes to consolidated financial statements lending commitments the firm 2019s lending commitments are agreements to lend with fixed termination dates and depend on the satisfaction of all contractual conditions to borrowing . these commitments are presented net of amounts syndicated to third parties . the total commitment amount does not necessarily reflect actual future cash flows because the firm may syndicate all or substantial additional portions of these commitments . in addition , commitments can expire unused or be reduced or cancelled at the counterparty 2019s request . the table below presents information about lending commitments. .
|$ in millions|as of december 2018|as of december 2017|
|held for investment|$ 120997|$ 124504|
|held for sale|8602|9838|
|at fair value|7983|9404|
|total|$ 137582|$ 143746|
in the table above : 2030 held for investment lending commitments are accounted for on an accrual basis . see note 9 for further information about such commitments . 2030 held for sale lending commitments are accounted for at the lower of cost or fair value . 2030 gains or losses related to lending commitments at fair value , if any , are generally recorded , net of any fees in other principal transactions . 2030 substantially all lending commitments relates to the firm 2019s investing & lending segment . commercial lending . the firm 2019s commercial lending commitments were primarily extended to investment-grade corporate borrowers . such commitments included $ 93.99 billion as of december 2018 and $ 85.98 billion as of december 2017 , related to relationship lending activities ( principally used for operating and general corporate purposes ) and $ 27.92 billion as of december 2018 and $ 42.41 billion as of december 2017 , related to other investment banking activities ( generally extended for contingent acquisition financing and are often intended to be short-term in nature , as borrowers often seek to replace them with other funding sources ) . the firm also extends lending commitments in connection with other types of corporate lending , as well as commercial real estate financing . see note 9 for further information about funded loans . sumitomo mitsui financial group , inc . ( smfg ) provides the firm with credit loss protection on certain approved loan commitments ( primarily investment-grade commercial lending commitments ) . the notional amount of such loan commitments was $ 15.52 billion as of december 2018 and $ 25.70 billion as of december 2017 . the credit loss protection on loan commitments provided by smfg is generally limited to 95% ( 95 % ) of the first loss the firm realizes on such commitments , up to a maximum of approximately $ 950 million . in addition , subject to the satisfaction of certain conditions , upon the firm 2019s request , smfg will provide protection for 70% ( 70 % ) of additional losses on such commitments , up to a maximum of $ 1.0 billion , of which $ 550 million of protection had been provided as of both december 2018 and december 2017 . the firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by smfg . these instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity , or credit default swaps that reference a market index . warehouse financing . the firm provides financing to clients who warehouse financial assets . these arrangements are secured by the warehoused assets , primarily consisting of consumer and corporate loans . contingent and forward starting collateralized agreements / forward starting collateralized financings forward starting collateralized agreements includes resale and securities borrowing agreements , and forward starting collateralized financings includes repurchase and secured lending agreements that settle at a future date , generally within three business days . the firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements . the firm 2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused . letters of credit the firm has commitments under letters of credit issued by various banks which the firm provides to counterparties in lieu of securities or cash to satisfy various collateral and margin deposit requirements . investment commitments investment commitments includes commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages . investment commitments included $ 2.42 billion as of december 2018 and $ 2.09 billion as of december 2017 , related to commitments to invest in funds managed by the firm . if these commitments are called , they would be funded at market value on the date of investment . goldman sachs 2018 form 10-k 159 .
Question: what is the growth rate in the balance of total lending commitments in 2018?
Answer: | -0.04288 |
FINQA4279 | Please answer the given financial question based on the context.
Context: 2018 emerson annual report | 37 inco me taxes the provision for income taxes is based on pretax income reported in the consolidated statements of earnings and tax rates currently enacted in each jurisdiction . certain income and expense items are recognized in different time periods for financial reporting and income tax filing purposes , and deferred income taxes are provided for the effect of temporary differences . the company also provides for foreign withholding taxes and any applicable u.s . income taxes on earnings intended to be repatriated from non-u.s . locations . no provision has been made for these taxes on approximately $ 3.4 billion of undistributed earnings of non-u.s . subsidiaries as of september 30 , 2018 , as these earnings are considered indefinitely invested or otherwise retained for continuing international operations . recognition of foreign withholding taxes and any applicable u.s . income taxes on undistributed non-u.s . earnings would be triggered by a management decision to repatriate those earnings . determination of the amount of taxes that might be paid on these undistributed earnings if eventually remitted is not practicable . see note 14 . ( 2 ) weighted-average common shares basic earnings per common share consider only the weighted-average of common shares outstanding while diluted earnings per common share also consider the dilutive effects of stock options and incentive shares . an inconsequential number of shares of common stock were excluded from the computation of dilutive earnings per in 2018 as the effect would have been antidilutive , while 4.5 million and 13.3 million shares of common stock were excluded in 2017 and 2016 , respectively . earnings allocated to participating securities were inconsequential for all years presented . reconciliations of weighted-average shares for basic and diluted earnings per common share follow ( shares in millions ) : 2016 2017 2018 .
||2016|2017|2018|
|basic shares outstanding|644.0|642.1|632.0|
|dilutive shares|2.8|1.3|3.3|
|diluted shares outstanding|646.8|643.4|635.3|
( 3 ) acquisitions and divestitures on july 17 , 2018 , the company completed the acquisition of aventics , a global provider of smart pneumatics technologies that power machine and factory automation applications , for $ 622 , net of cash acquired . this business , which has annual sales of approximately $ 425 , is reported in the industrial solutions product offering in the automation solutions segment . the company recognized goodwill of $ 358 ( $ 20 of which is expected to be tax deductible ) , and identifiable intangible assets of $ 278 , primarily intellectual property and customer relationships with a weighted-average useful life of approximately 12 years . on july 2 , 2018 , the company completed the acquisition of textron 2019s tools and test equipment business for $ 810 , net of cash acquired . this business , with annual sales of approximately $ 470 , is a manufacturer of electrical and utility tools , diagnostics , and test and measurement instruments , and is reported in the tools & home products segment . the company recognized goodwill of $ 374 ( $ 17 of which is expected to be tax deductible ) , and identifiable intangible assets of $ 358 , primarily intellectual property and customer relationships with a weighted-average useful life of approximately 14 years . on december 1 , 2017 , the company acquired paradigm , a provider of software solutions for the oil and gas industry , for $ 505 , net of cash acquired . this business had annual sales of approximately $ 140 and is included in the measurement & analytical instrumentation product offering within automation solutions . the company recognized goodwill of $ 328 ( $ 160 of which is expected to be tax deductible ) , and identifiable intangible assets of $ 238 , primarily intellectual property and customer relationships with a weighted-average useful life of approximately 11 years . during 2018 , the company also acquired four smaller businesses , two in the automation solutions segment and two in the climate technologies segment. .
Question: for the aventics acquisition what was the ratio of price paid to annual sales?
Answer: | 1.46353 |
FINQA4280 | Please answer the given financial question based on the context.
Context: the following table sets forth the components of foreign currency translation adjustments for fiscal 2011 , 2010 and 2009 ( in thousands ) : beginning balance foreign currency translation adjustments income tax effect relating to translation adjustments for undistributed foreign earnings ending balance $ 7632 ( 2208 ) $ 10580 $ 10640 ( 4144 ) $ 7632 $ ( 431 ) 17343 ( 6272 ) $ 10640 stock repurchase program to facilitate our stock repurchase program , designed to return value to our stockholders and minimize dilution from stock issuances , we repurchase shares in the open market and also enter into structured repurchase agreements with third-parties . authorization to repurchase shares to cover on-going dilution was not subject to expiration . however , this repurchase program was limited to covering net dilution from stock issuances and was subject to business conditions and cash flow requirements as determined by our board of directors from time to time . during the third quarter of fiscal 2010 , our board of directors approved an amendment to our stock repurchase program authorized in april 2007 from a non-expiring share-based authority to a time-constrained dollar-based authority . as part of this amendment , the board of directors granted authority to repurchase up to $ 1.6 billion in common stock through the end of fiscal 2012 . this amended program did not affect the $ 250.0 million structured stock repurchase agreement entered into during march 2010 . as of december 3 , 2010 , no prepayments remain under that agreement . during fiscal 2011 , 2010 and 2009 , we entered into several structured repurchase agreements with large financial institutions , whereupon we provided the financial institutions with prepayments totaling $ 695.0 million , $ 850.0 million and $ 350.0 million , respectively . of the $ 850.0 million of prepayments during fiscal 2010 , $ 250.0 million was under the stock repurchase program prior to the program amendment and the remaining $ 600.0 million was under the amended $ 1.6 billion time-constrained dollar- based authority . we enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the volume weighted average price ( 201cvwap 201d ) of our common stock over a specified period of time . we only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions . there were no explicit commissions or fees on these structured repurchases . under the terms of the agreements , there is no requirement for the financial institutions to return any portion of the prepayment to us . the financial institutions agree to deliver shares to us at monthly intervals during the contract term . the parameters used to calculate the number of shares deliverable are : the total notional amount of the contract , the number of trading days in the contract , the number of trading days in the interval and the average vwap of our stock during the interval less the agreed upon discount . during fiscal 2011 , we repurchased approximately 21.8 million shares at an average price of $ 31.81 through structured repurchase agreements entered into during fiscal 2011 . during fiscal 2010 , we repurchased approximately 31.2 million shares at an average price of $ 29.19 through structured repurchase agreements entered into during fiscal 2009 and fiscal 2010 . during fiscal 2009 , we repurchased approximately 15.2 million shares at an average price per share of $ 27.89 through structured repurchase agreements entered into during fiscal 2008 and fiscal 2009 . for fiscal 2011 , 2010 and 2009 , the prepayments were classified as treasury stock on our consolidated balance sheets at the payment date , though only shares physically delivered to us by december 2 , 2011 , december 3 , 2010 and november 27 , 2009 were excluded from the computation of earnings per share . as of december 2 , 2011 and december 3 , 2010 , no prepayments remained under these agreements . as of november 27 , 2009 , approximately $ 59.9 million of prepayments remained under these agreements . subsequent to december 2 , 2011 , as part of our $ 1.6 billion stock repurchase program , we entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $ 80.0 million . this amount will be classified as treasury stock on our consolidated balance sheets . upon completion of the $ 80.0 million stock table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) jarcamo typewritten text .
||2011|2010|2009|
|beginning balance|$ 7632|$ 10640|$ -431 ( 431 )|
|foreign currency translation adjustments|5156|-4144 ( 4144 )|17343|
|income tax effect relating to translation adjustments forundistributed foreign earnings|-2208 ( 2208 )|1136|-6272 ( 6272 )|
|ending balance|$ 10580|$ 7632|$ 10640|
the following table sets forth the components of foreign currency translation adjustments for fiscal 2011 , 2010 and 2009 ( in thousands ) : beginning balance foreign currency translation adjustments income tax effect relating to translation adjustments for undistributed foreign earnings ending balance $ 7632 ( 2208 ) $ 10580 $ 10640 ( 4144 ) $ 7632 $ ( 431 ) 17343 ( 6272 ) $ 10640 stock repurchase program to facilitate our stock repurchase program , designed to return value to our stockholders and minimize dilution from stock issuances , we repurchase shares in the open market and also enter into structured repurchase agreements with third-parties . authorization to repurchase shares to cover on-going dilution was not subject to expiration . however , this repurchase program was limited to covering net dilution from stock issuances and was subject to business conditions and cash flow requirements as determined by our board of directors from time to time . during the third quarter of fiscal 2010 , our board of directors approved an amendment to our stock repurchase program authorized in april 2007 from a non-expiring share-based authority to a time-constrained dollar-based authority . as part of this amendment , the board of directors granted authority to repurchase up to $ 1.6 billion in common stock through the end of fiscal 2012 . this amended program did not affect the $ 250.0 million structured stock repurchase agreement entered into during march 2010 . as of december 3 , 2010 , no prepayments remain under that agreement . during fiscal 2011 , 2010 and 2009 , we entered into several structured repurchase agreements with large financial institutions , whereupon we provided the financial institutions with prepayments totaling $ 695.0 million , $ 850.0 million and $ 350.0 million , respectively . of the $ 850.0 million of prepayments during fiscal 2010 , $ 250.0 million was under the stock repurchase program prior to the program amendment and the remaining $ 600.0 million was under the amended $ 1.6 billion time-constrained dollar- based authority . we enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the volume weighted average price ( 201cvwap 201d ) of our common stock over a specified period of time . we only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions . there were no explicit commissions or fees on these structured repurchases . under the terms of the agreements , there is no requirement for the financial institutions to return any portion of the prepayment to us . the financial institutions agree to deliver shares to us at monthly intervals during the contract term . the parameters used to calculate the number of shares deliverable are : the total notional amount of the contract , the number of trading days in the contract , the number of trading days in the interval and the average vwap of our stock during the interval less the agreed upon discount . during fiscal 2011 , we repurchased approximately 21.8 million shares at an average price of $ 31.81 through structured repurchase agreements entered into during fiscal 2011 . during fiscal 2010 , we repurchased approximately 31.2 million shares at an average price of $ 29.19 through structured repurchase agreements entered into during fiscal 2009 and fiscal 2010 . during fiscal 2009 , we repurchased approximately 15.2 million shares at an average price per share of $ 27.89 through structured repurchase agreements entered into during fiscal 2008 and fiscal 2009 . for fiscal 2011 , 2010 and 2009 , the prepayments were classified as treasury stock on our consolidated balance sheets at the payment date , though only shares physically delivered to us by december 2 , 2011 , december 3 , 2010 and november 27 , 2009 were excluded from the computation of earnings per share . as of december 2 , 2011 and december 3 , 2010 , no prepayments remained under these agreements . as of november 27 , 2009 , approximately $ 59.9 million of prepayments remained under these agreements . subsequent to december 2 , 2011 , as part of our $ 1.6 billion stock repurchase program , we entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $ 80.0 million . this amount will be classified as treasury stock on our consolidated balance sheets . upon completion of the $ 80.0 million stock table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) jarcamo typewritten text .
Question: for the $ 1.6 billion stock repurchase program , what percentage was the structured stock repurchase agreement with a large financial institution?
Answer: | 0.05 |
FINQA4281 | Please answer the given financial question based on the context.
Context: human capital management strategic imperative entergy engaged in a strategic imperative intended to optimize the organization through a process known as human capital management . in july 2013 management completed a comprehensive review of entergy 2019s organization design and processes . this effort resulted in a new internal organization structure , which resulted in the elimination of approximately 800 employee positions . entergy incurred approximately $ 110 million in costs in 2013 associated with this phase of human capital management , primarily implementation costs , severance expenses , pension curtailment losses , special termination benefits expense , and corporate property , plant , and equipment impairments . in december 2013 , entergy deferred for future recovery approximately $ 45 million of these costs , as approved by the apsc and the lpsc . see note 2 to the financial statements for details of the deferrals and note 13 to the financial statements for details of the restructuring charges . liquidity and capital resources this section discusses entergy 2019s capital structure , capital spending plans and other uses of capital , sources of capital , and the cash flow activity presented in the cash flow statement . capital structure entergy 2019s capitalization is balanced between equity and debt , as shown in the following table. .
||2013|2012|
|debt to capital|57.9% ( 57.9 % )|58.7% ( 58.7 % )|
|effect of excluding securitization bonds|( 1.6% ( 1.6 % ) )|( 1.8% ( 1.8 % ) )|
|debt to capital excluding securitization bonds ( a )|56.3% ( 56.3 % )|56.9% ( 56.9 % )|
|effect of subtracting cash|( 1.5% ( 1.5 % ) )|( 1.1% ( 1.1 % ) )|
|net debt to net capital excluding securitization bonds ( a )|54.8% ( 54.8 % )|55.8% ( 55.8 % )|
( a ) calculation excludes the arkansas , louisiana , and texas securitization bonds , which are non-recourse to entergy arkansas , entergy louisiana , and entergy texas , respectively . net debt consists of debt less cash and cash equivalents . debt consists of notes payable and commercial paper , capital lease obligations , and long-term debt , including the currently maturing portion . capital consists of debt , common shareholders 2019 equity , and subsidiaries 2019 preferred stock without sinking fund . net capital consists of capital less cash and cash equivalents . entergy uses the debt to capital ratios excluding securitization bonds in analyzing its financial condition and believes they provide useful information to its investors and creditors in evaluating entergy 2019s financial condition because the securitization bonds are non-recourse to entergy , as more fully described in note 5 to the financial statements . entergy also uses the net debt to net capital ratio excluding securitization bonds in analyzing its financial condition and believes it provides useful information to its investors and creditors in evaluating entergy 2019s financial condition because net debt indicates entergy 2019s outstanding debt position that could not be readily satisfied by cash and cash equivalents on hand . long-term debt , including the currently maturing portion , makes up most of entergy 2019s total debt outstanding . following are entergy 2019s long-term debt principal maturities and estimated interest payments as of december 31 , 2013 . to estimate future interest payments for variable rate debt , entergy used the rate as of december 31 , 2013 . the amounts below include payments on the entergy louisiana and system energy sale-leaseback transactions , which are included in long-term debt on the balance sheet . entergy corporation and subsidiaries management's financial discussion and analysis .
Question: what is the percentage change in net debt to net capital excluding securitization bonds from 2012 to 2013?
Answer: | -0.01792 |
FINQA4282 | Please answer the given financial question based on the context.
Context: m . employee retirement plans 2013 ( continued ) of equities and fixed-income investments , and would be less liquid than financial instruments that trade on public markets . potential events or circumstances that could have a negative effect on estimated fair value include the risks of inadequate diversification and other operating risks . to mitigate these risks , investments are diversified across and within asset classes in support of investment objectives . policies and practices to address operating risks include ongoing manager oversight , plan and asset class investment guidelines and instructions that are communicated to managers , and periodic compliance and audit reviews to ensure adherence to these policies . in addition , the company periodically seeks the input of its independent advisor to ensure the investment policy is appropriate . the company sponsors certain post-retirement benefit plans that provide medical , dental and life insurance coverage for eligible retirees and dependents in the united states based upon age and length of service . the aggregate present value of the unfunded accumulated post-retirement benefit obligation was $ 13 million at both december 31 , 2010 and 2009 . cash flows at december 31 , 2010 , the company expected to contribute approximately $ 30 million to $ 35 million to its qualified defined-benefit pension plans to meet erisa requirements in 2011 . the company also expected to pay benefits of $ 3 million and $ 10 million to participants of its unfunded foreign and non-qualified ( domestic ) defined-benefit pension plans , respectively , in 2011 . at december 31 , 2010 , the benefits expected to be paid in each of the next five years , and in aggregate for the five years thereafter , relating to the company 2019s defined-benefit pension plans , were as follows , in millions : qualified non-qualified .
||qualified plans|non-qualified plans|
|2011|$ 38|$ 10|
|2012|$ 40|$ 11|
|2013|$ 41|$ 11|
|2014|$ 41|$ 12|
|2015|$ 43|$ 12|
|2016-2020|$ 235|$ 59|
n . shareholders 2019 equity in july 2007 , the company 2019s board of directors authorized the repurchase for retirement of up to 50 million shares of the company 2019s common stock in open-market transactions or otherwise . at december 31 , 2010 , the company had remaining authorization to repurchase up to 27 million shares . during 2010 , the company repurchased and retired three million shares of company common stock , for cash aggregating $ 45 million to offset the dilutive impact of the 2010 grant of three million shares of long-term stock awards . the company repurchased and retired two million common shares in 2009 and nine million common shares in 2008 for cash aggregating $ 11 million and $ 160 million in 2009 and 2008 , respectively . on the basis of amounts paid ( declared ) , cash dividends per common share were $ .30 ( $ .30 ) in 2010 , $ .46 ( $ .30 ) in 2009 and $ .925 ( $ .93 ) in 2008 , respectively . in 2009 , the company decreased its quarterly cash dividend to $ .075 per common share from $ .235 per common share . masco corporation notes to consolidated financial statements 2014 ( continued ) .
Question: at december 31 , 2010 what was the percent of the shares remaining authorization to repurchase of the amount authorization by the board in 2007
Answer: | 0.54 |
FINQA4283 | Please answer the given financial question based on the context.
Context: zimmer biomet holdings , inc . 2018 form 10-k annual report ( 8 ) we have incurred other various expenses from specific events or projects that we consider highly variable or have a significant impact to our operating results that we have excluded from our non-gaap financial measures . this includes legal entity and operational restructuring as well as our costs of complying with our dpa with the u.s . government related to certain fcpa matters involving biomet and certain of its subsidiaries . under the dpa , which has a three-year term , we are subject to oversight by an independent compliance monitor , which monitorship commenced in july 2017 . the excluded costs include the fees paid to the independent compliance monitor and to external legal counsel assisting in the matter . ( 9 ) represents the tax effects on the previously specified items . the tax effect for the u.s . jurisdiction is calculated based on an effective rate considering federal and state taxes , as well as permanent items . for jurisdictions outside the u.s. , the tax effect is calculated based upon the statutory rates where the items were incurred . ( 10 ) the 2016 period includes negative effects from finalizing the tax accounts for the biomet merger . under the applicable u.s . gaap rules , these measurement period adjustments are recognized on a prospective basis in the period of change . ( 11 ) the 2017 tax act resulted in a net favorable provisional adjustment due to the reduction of deferred tax liabilities for unremitted earnings and revaluation of deferred tax liabilities to a 21 percent rate , which was partially offset by provisional tax charges related to the toll charge provision of the 2017 tax act . in 2018 , we finalized our estimates of the effects of the 2017 tax act based upon final guidance issued by u.s . tax authorities . ( 12 ) other certain tax adjustments in 2018 primarily related to changes in tax rates on deferred tax liabilities recorded on intangible assets recognized in acquisition-related accounting and adjustments from internal restructuring transactions that provide us access to offshore funds in a tax efficient manner . in 2017 , other certain tax adjustments relate to tax benefits from lower tax rates unrelated to the impact of the 2017 tax act , net favorable resolutions of various tax matters and net favorable adjustments from internal restructuring transactions . the 2016 adjustment primarily related to a favorable adjustment to certain deferred tax liabilities recognized as part of acquisition-related accounting and favorable resolution of certain tax matters with taxing authorities offset by internal restructuring transactions that provide us access to offshore funds in a tax efficient manner . ( 13 ) diluted share count used in adjusted diluted eps : year ended december 31 , 2018 .
||year endeddecember 31 2018|
|diluted shares|203.5|
|dilutive shares assuming net earnings|1.5|
|adjusted diluted shares|205.0|
liquidity and capital resources cash flows provided by operating activities were $ 1747.4 million in 2018 compared to $ 1582.3 million and $ 1632.2 million in 2017 and 2016 , respectively . the increase in operating cash flows in 2018 compared to 2017 was driven by additional cash flows from our sale of accounts receivable in certain countries , lower acquisition and integration expenses and lower quality remediation expenses , as well as certain significant payments made in the 2017 period . in the 2017 period , we made payments related to the u.s . durom cup settlement program , and we paid $ 30.5 million in settlement payments to resolve previously-disclosed fcpa matters involving biomet and certain of its subsidiaries as discussed in note 19 to our consolidated financial statements included in item 8 of this report . the decline in operating cash flows in 2017 compared to 2016 was driven by additional investments in inventory , additional expenses for quality remediation and the significant payments made in the 2017 period as discussed in the previous sentence . these unfavorable items were partially offset by $ 174.0 million of incremental cash flows in 2017 from our sale of accounts receivable in certain countries . cash flows used in investing activities were $ 416.6 million in 2018 compared to $ 510.8 million and $ 1691.5 million in 2017 and 2016 , respectively . instrument and property , plant and equipment additions reflected ongoing investments in our product portfolio and optimization of our manufacturing and logistics network . in 2018 , we entered into receive-fixed-rate , pay-fixed-rate cross-currency interest rate swaps . our investing cash flows reflect the net cash inflows from the fixed- rate interest rate receipts/payments , as well as the termination of certain of these swaps that were in a gain position in the year . the 2016 period included cash outflows for the acquisition of ldr holding corporation ( 201cldr 201d ) and other business acquisitions . additionally , the 2016 period reflects the maturity of available-for-sale debt securities . as these investments matured , we used the cash to pay off debt and have not reinvested in any additional debt securities . cash flows used in financing activities were $ 1302.2 million in 2018 . our primary use of available cash in 2018 was for debt repayment . we received net proceeds of $ 749.5 million from the issuance of additional senior notes and borrowed $ 400.0 million from our multicurrency revolving facility to repay $ 1150.0 million of senior notes that became due on april 2 , 2018 . we subsequently repaid the $ 400.0 million of multicurrency revolving facility borrowings . also in 2018 , we borrowed another $ 675.0 million under a new u.s . term loan c and used the cash proceeds along with cash generated from operations throughout the year to repay an aggregate of $ 835.0 million on u.s . term loan a , $ 450.0 million on u.s . term loan b , and we subsequently repaid $ 140.0 million on u.s . term loan c . overall , we had approximately $ 1150 million of net principal repayments on our senior notes and term loans in 2018 . in 2017 , our primary use of available cash was also for debt repayment compared to 2016 when we were not able to repay as much debt due to financing requirements to complete the ldr and other business acquisitions . additionally in 2017 , we had net cash inflows of $ 103.5 million on factoring programs that had not been remitted to the third party . in 2018 , we had net cash outflows related to these factoring programs as we remitted the $ 103.5 million and collected only $ 66.8 million which had not yet been remitted by the end of the year . since our factoring programs started at the end of 2016 , we did not have similar cash flows in that year . in january 2019 , we borrowed an additional $ 200.0 million under u.s . term loan c and used those proceeds , along with cash on hand , to repay the remaining $ 225.0 million outstanding under u.s . term loan b . in february , may , august and december 2018 , our board of directors declared cash dividends of $ 0.24 per share . we expect to continue paying cash dividends on a quarterly basis ; however , future dividends are subject to approval of the board of directors and may be adjusted as business needs or market conditions change . as further discussed in note 11 to our consolidated financial statements , our debt facilities restrict the payment of dividends in certain circumstances. .
Question: what is the percent change in cash flows provided by operating activities between 2018 and 2017?
Answer: | -0.10434 |
FINQA4284 | Please answer the given financial question based on the context.
Context: 2003 and for hedging relationships designated after june 30 , 2003 . the adoption of sfas 149 did not have a material impact on our consolidated financial position , results of operations or cash flows . in may 2003 , the fasb issued statement of financial accounting standards no . 150 ( 201csfas 150 201d ) , 201caccounting for certain financial instruments with characteristics of both liabilities and equity . 201d sfas 150 requires that certain financial instruments , which under previous guidance were accounted for as equity , must now be accounted for as liabilities . the financial instruments affected include mandatory redeemable stock , certain financial instruments that require or may require the issuer to buy back some of its shares in exchange for cash or other assets and certain obligations that can be settled with shares of stock . sfas 150 is effective for all financial instruments entered into or modified after may 31 , 2003 , and otherwise is effective at the beginning of the first interim period beginning after june 15 , 2003 . the adoption of sfas 150 did not have a material impact on our consolidated financial position , results of operations or cash flows . note 2 . acquisitions on may 19 , 2003 , we purchased the technology assets of syntrillium , a privately held company , for $ 16.5 million cash . syntrillium developed , published and marketed digital audio tools including its recording application , cool edit pro ( renamed adobe audition ) , all of which have been added to our existing line of professional digital imaging and video products . by adding adobe audition and the other tools to our existing line of products , we have improved the adobe video workflow and expanded the products and tools available to videographers , dvd authors and independent filmmakers . in connection with the purchase , we allocated $ 13.7 million to goodwill , $ 2.7 million to purchased technology and $ 0.1 million to tangible assets . we also accrued $ 0.1 million in acquisition-related legal and accounting fees . goodwill has been allocated to our digital imaging and video segment . purchased technology is being amortized to cost of product revenue over its estimated useful life of three years . the consolidated financial statements include the operating results of the purchased technology assets from the date of purchase . pro forma results of operations have not been presented because the effect of this acquisition was not material . in april 2002 , we acquired all of the outstanding common stock of accelio . accelio was a provider of web-enabled solutions that helped customers manage business processes driven by electronic forms . the acquisition of accelio broadened our epaper solution business . at the date of acquisition , the aggregate purchase price was $ 70.2 million , which included the issuance of 1.8 million shares of common stock of adobe , valued at $ 68.4 million , and cash of $ 1.8 million . the following table summarizes the purchase price allocation: .
|cash and cash equivalents|$ 9117|
|accounts receivable net|11906|
|other current assets|4735|
|purchased technology|2710|
|goodwill|77009|
|in-process research and development|410|
|trademarks and other intangible assets|1029|
|total assets acquired|106916|
|current liabilities|-18176 ( 18176 )|
|liabilities recognized in connection with the business combination|-16196 ( 16196 )|
|deferred revenue|-2360 ( 2360 )|
|total liabilities assumed|-36732 ( 36732 )|
|net assets acquired|$ 70184|
we allocated $ 2.7 million to purchased technology and $ 0.4 million to in-process research and development . the amount allocated to purchased technology represented the fair market value of the technology for each of the existing products , as of the date of the acquisition . the purchased technology was assigned a useful life of three years and is being amortized to cost of product revenue . the amount allocated to in-process research and development was expensed at the time of acquisition due to the state of the development of certain products and the uncertainty of the technology . the remaining purchase price was allocated to goodwill and was assigned to our epaper segment ( which was renamed intelligent documents beginning in fiscal 2004 ) . in accordance with sfas no . 142 .
Question: what portion of total liability assumed from accelio was reported as current liabilities?
Answer: | 0.49483 |
FINQA4285 | Please answer the given financial question based on the context.
Context: liquidity monitoring and measurement stress testing liquidity stress testing is performed for each of citi 2019s major entities , operating subsidiaries and/or countries . stress testing and scenario analyses are intended to quantify the potential impact of an adverse liquidity event on the balance sheet and liquidity position , and to identify viable funding alternatives that can be utilized . these scenarios include assumptions about significant changes in key funding sources , market triggers ( such as credit ratings ) , potential uses of funding and geopolitical and macroeconomic conditions . these conditions include expected and stressed market conditions as well as company-specific events . liquidity stress tests are conducted to ascertain potential mismatches between liquidity sources and uses over a variety of time horizons and over different stressed conditions . liquidity limits are set accordingly . to monitor the liquidity of an entity , these stress tests and potential mismatches are calculated with varying frequencies , with several tests performed daily . given the range of potential stresses , citi maintains contingency funding plans on a consolidated basis and for individual entities . these plans specify a wide range of readily available actions for a variety of adverse market conditions or idiosyncratic stresses . short-term liquidity measurement : liquidity coverage ratio ( lcr ) in addition to internal liquidity stress metrics that citi has developed for a 30-day stress scenario , citi also monitors its liquidity by reference to the lcr , as calculated pursuant to the u.s . lcr rules . generally , the lcr is designed to ensure that banks maintain an adequate level of hqla to meet liquidity needs under an acute 30-day stress scenario . the lcr is calculated by dividing hqla by estimated net outflows over a stressed 30-day period , with the net outflows determined by applying prescribed outflow factors to various categories of liabilities , such as deposits , unsecured and secured wholesale borrowings , unused lending commitments and derivatives- related exposures , partially offset by inflows from assets maturing within 30 days . banks are required to calculate an add-on to address potential maturity mismatches between contractual cash outflows and inflows within the 30-day period in determining the total amount of net outflows . the minimum lcr requirement is 100% ( 100 % ) , effective january 2017 . pursuant to the federal reserve board 2019s final rule regarding lcr disclosures , effective april 1 , 2017 , citi began to disclose lcr in the prescribed format . the table below sets forth the components of citi 2019s lcr calculation and hqla in excess of net outflows for the periods indicated : in billions of dollars dec . 31 , sept . 30 , dec . 31 .
|in billions of dollars|dec . 31 2017|sept . 30 2017|dec . 31 2016|
|hqla|$ 446.4|$ 448.6|$ 403.7|
|net outflows|364.3|365.1|332.5|
|lcr|123% ( 123 % )|123% ( 123 % )|121% ( 121 % )|
|hqla in excess of net outflows|$ 82.1|$ 83.5|$ 71.3|
note : amounts set forth in the table above are presented on an average basis . as set forth in the table above , citi 2019s lcr increased year- over-year , as the increase in the hqla ( as discussed above ) more than offset an increase in modeled net outflows . the increase in modeled net outflows was primarily driven by changes in assumptions , including changes in methodology to better align citi 2019s outflow assumptions with those embedded in its resolution planning . sequentially , citi 2019s lcr remained unchanged . long-term liquidity measurement : net stable funding ratio ( nsfr ) in 2016 , the federal reserve board , the fdic and the occ issued a proposed rule to implement the basel iii nsfr requirement . the u.s.-proposed nsfr is largely consistent with the basel committee 2019s final nsfr rules . in general , the nsfr assesses the availability of a bank 2019s stable funding against a required level . a bank 2019s available stable funding would include portions of equity , deposits and long-term debt , while its required stable funding would be based on the liquidity characteristics of its assets , derivatives and commitments . prescribed factors would be required to be applied to the various categories of asset and liabilities classes . the ratio of available stable funding to required stable funding would be required to be greater than 100% ( 100 % ) . while citi believes that it is compliant with the proposed u.s . nsfr rules as of december 31 , 2017 , it will need to evaluate a final version of the rules , which are expected to be released during 2018 . citi expects that the nsfr final rules implementation period will be communicated along with the final version of the rules. .
Question: what was the percentage increase in the net outflows from 2016 to 2017
Answer: | 0.09564 |
FINQA4286 | Please answer the given financial question based on the context.
Context: the analysis of our depreciation studies . changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively . under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized . the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies . the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes . because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate . in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies . any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets . for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies . a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations . when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use . however , many of our assets are self-constructed . a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects . costs that are directly attributable to capital projects ( including overhead costs ) are capitalized . direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment . indirect costs are capitalized if they clearly relate to the construction of the asset . general and administrative expenditures are expensed as incurred . normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized . these costs are allocated using appropriate statistical bases . total expense for repairs and maintenance incurred was $ 2.3 billion for 2013 , $ 2.1 billion for 2012 , and $ 2.2 billion for 2011 . assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease . amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease . 12 . accounts payable and other current liabilities dec . 31 , dec . 31 , millions 2013 2012 .
|millions|dec . 31 2013|dec . 312012|
|accounts payable|$ 803|$ 825|
|income and other taxes payable|491|368|
|accrued wages and vacation|385|376|
|dividends payable|356|318|
|accrued casualty costs|207|213|
|interest payable|169|172|
|equipment rents payable|96|95|
|other|579|556|
|total accounts payable and othercurrent liabilities|$ 3086|$ 2923|
.
Question: what was the average repairs and maintenance incurred from 2011 to 2013 in billions
Answer: | 2.2 |
FINQA4287 | Please answer the given financial question based on the context.
Context: jpmorgan chase & co./2015 annual report 73 in advisory fees was driven by the combined impact of a greater share of fees for completed transactions , and growth in industry-wide fees . the increase in equity underwriting fees was driven by higher industry-wide issuance . the decrease in debt underwriting fees was primarily related to lower bond underwriting fees compared with the prior year , and lower loan syndication fees on lower industry-wide fees . principal transactions revenue increased as the prior year included a $ 1.5 billion loss related to the implementation of the funding valuation adjustment ( 201cfva 201d ) framework for over-the-counter ( 201cotc 201d ) derivatives and structured notes . private equity gains increased as a result of higher net gains on sales . these increases were partially offset by lower fixed income markets revenue in cib , primarily driven by credit-related and rates products , as well as the impact of business simplification initiatives . lending- and deposit-related fees decreased compared with the prior year , reflecting the impact of business simplification initiatives and lower trade finance revenue in cib . asset management , administration and commissions revenue increased compared with the prior year , reflecting higher asset management fees driven by net client inflows and higher market levels in am and ccb . the increase was offset partially by lower commissions and other fee revenue in ccb as a result of the exit of a non-core product in 2013 . securities gains decreased compared with the prior year , reflecting lower repositioning activity related to the firm 2019s investment securities portfolio . mortgage fees and related income decreased compared with the prior year , predominantly due to lower net production revenue driven by lower volumes due to higher mortgage interest rates , and tighter margins . the decline in net production revenue was partially offset by a lower loss on the risk management of mortgage servicing rights ( 201cmsrs 201d ) . card income was relatively flat compared with the prior year , but included higher net interchange income due to growth in credit and debit card sales volume , offset by higher amortization of new account origination costs . other income decreased from the prior year , predominantly from the absence of two significant items recorded in corporate in 2013 : gains of $ 1.3 billion and $ 493 million from sales of visa shares and one chase manhattan plaza , respectively . lower valuations of seed capital investments in am and losses related to the exit of non-core portfolios in card also contributed to the decrease . these items were partially offset by higher auto lease income as a result of growth in auto lease volume , and a benefit from a tax settlement . net interest income increased slightly from the prior year , predominantly reflecting higher yields on investment securities , the impact of lower interest expense from lower rates , and higher average loan balances . the increase was partially offset by lower yields on loans due to the run-off of higher-yielding loans and new originations of lower-yielding loans , and lower average interest-earning trading asset balances . the firm 2019s average interest-earning assets were $ 2.0 trillion , and the net interest yield on these assets , on a fte basis , was 2.18% ( 2.18 % ) , a decrease of 5 basis points from the prior year . provision for credit losses year ended december 31 .
|( in millions )|2015|2014|2013|
|consumer excluding credit card|$ -81 ( 81 )|$ 419|$ -1871 ( 1871 )|
|credit card|3122|3079|2179|
|total consumer|3041|3498|308|
|wholesale|786|-359 ( 359 )|-83 ( 83 )|
|total provision for credit losses|$ 3827|$ 3139|$ 225|
2015 compared with 2014 the provision for credit losses increased from the prior year as a result of an increase in the wholesale provision , largely reflecting the impact of downgrades in the oil & gas portfolio . the increase was partially offset by a decrease in the consumer provision , reflecting lower net charge-offs due to continued discipline in credit underwriting , as well as improvement in the economy driven by increasing home prices and lower unemployment levels . the increase was partially offset by a lower reduction in the allowance for loan losses . for a more detailed discussion of the credit portfolio and the allowance for credit losses , see the segment discussions of ccb on pages 85 201393 , cb on pages 99 2013101 , and the allowance for credit losses on pages 130 2013132 . 2014 compared with 2013 the provision for credit losses increased by $ 2.9 billion from the prior year as result of a lower benefit from reductions in the consumer allowance for loan losses , partially offset by lower net charge-offs . the consumer allowance reduction in 2014 was primarily related to the consumer , excluding credit card , portfolio and reflected the continued improvement in home prices and delinquencies in the residential real estate portfolio . the wholesale provision reflected a continued favorable credit environment. .
Question: in 2015 what was the percent of the credit card as part of the total provision for credit losses
Answer: | 0.81578 |
FINQA4288 | Please answer the given financial question based on the context.
Context: maturity requirements on long-term debt as of december 31 , 2018 by year are as follows ( in thousands ) : years ending december 31 .
|2019|$ 124176|
|2020|159979|
|2021|195848|
|2022|267587|
|2023|3945053|
|2024 and thereafter|475000|
|total|$ 5167643|
credit facility we are party to a credit facility agreement with bank of america , n.a. , as administrative agent , and a syndicate of financial institutions as lenders and other agents ( as amended from time to time , the 201ccredit facility 201d ) . as of december 31 , 2018 , the credit facility provided for secured financing comprised of ( i ) a $ 1.5 billion revolving credit facility ( the 201crevolving credit facility 201d ) ; ( ii ) a $ 1.5 billion term loan ( the 201cterm a loan 201d ) , ( iii ) a $ 1.37 billion term loan ( the 201cterm a-2 loan 201d ) , ( iv ) a $ 1.14 billion term loan facility ( the 201cterm b-2 loan 201d ) and ( v ) a $ 500 million term loan ( the 201cterm b-4 loan 201d ) . substantially all of the assets of our domestic subsidiaries are pledged as collateral under the credit facility . the borrowings outstanding under our credit facility as of december 31 , 2018 reflect amounts borrowed for acquisitions and other activities we completed in 2018 , including a reduction to the interest rate margins applicable to our term a loan , term a-2 loan , term b-2 loan and the revolving credit facility , an extension of the maturity dates of the term a loan , term a-2 loan and the revolving credit facility , and an increase in the total financing capacity under the credit facility to approximately $ 5.5 billion in june 2018 . in october 2018 , we entered into an additional term loan under the credit facility in the amount of $ 500 million ( the 201cterm b-4 loan 201d ) . we used the proceeds from the term b-4 loan to pay down a portion of the balance outstanding under our revolving credit facility . the credit facility provides for an interest rate , at our election , of either libor or a base rate , in each case plus a margin . as of december 31 , 2018 , the interest rates on the term a loan , the term a-2 loan , the term b-2 loan and the term b-4 loan were 4.02% ( 4.02 % ) , 4.01% ( 4.01 % ) , 4.27% ( 4.27 % ) and 4.27% ( 4.27 % ) , respectively , and the interest rate on the revolving credit facility was 3.92% ( 3.92 % ) . in addition , we are required to pay a quarterly commitment fee with respect to the unused portion of the revolving credit facility at an applicable rate per annum ranging from 0.20% ( 0.20 % ) to 0.30% ( 0.30 % ) depending on our leverage ratio . the term a loan and the term a-2 loan mature , and the revolving credit facility expires , on january 20 , 2023 . the term b-2 loan matures on april 22 , 2023 . the term b-4 loan matures on october 18 , 2025 . the term a loan and term a-2 loan principal amounts must each be repaid in quarterly installments in the amount of 0.625% ( 0.625 % ) of principal through june 2019 , increasing to 1.25% ( 1.25 % ) of principal through june 2021 , increasing to 1.875% ( 1.875 % ) of principal through june 2022 and increasing to 2.50% ( 2.50 % ) of principal through december 2022 , with the remaining principal balance due upon maturity in january 2023 . the term b-2 loan principal must be repaid in quarterly installments in the amount of 0.25% ( 0.25 % ) of principal through march 2023 , with the remaining principal balance due upon maturity in april 2023 . the term b-4 loan principal must be repaid in quarterly installments in the amount of 0.25% ( 0.25 % ) of principal through september 2025 , with the remaining principal balance due upon maturity in october 2025 . we may issue standby letters of credit of up to $ 100 million in the aggregate under the revolving credit facility . outstanding letters of credit under the revolving credit facility reduce the amount of borrowings available to us . borrowings available to us under the revolving credit facility are further limited by the covenants described below under 201ccompliance with covenants . 201d the total available commitments under the revolving credit facility at december 31 , 2018 were $ 783.6 million . global payments inc . | 2018 form 10-k annual report 2013 85 .
Question: what portion of the total outstanding long-term debt is included in the current liabilities section as of december 31 , 2018?
Answer: | 0.02403 |
FINQA4289 | Please answer the given financial question based on the context.
Context: the new york stock exchange ( the 201cseparation 201d ) . the separation was effectuated through a pro-rata dividend distribution on july 2 , 2016 of all of the then-outstanding shares of common stock of fortive corporation to the holders of common stock of danaher as of june 15 , 2016 . in this annual report , the terms 201cfortive 201d or the 201ccompany 201d refer to either fortive corporation or to fortive corporation and its consolidated subsidiaries , as the context requires . reportable segments the table below describes the percentage of sales attributable to each of our two segments over each of the last three years ended december 31 , 2017 . for additional information regarding sales , operating profit and identifiable assets by segment , please refer to note 17 to the consolidated and combined financial statements included in this annual report. .
||2017|2016|2015|
|professional instrumentation|47% ( 47 % )|46% ( 46 % )|48% ( 48 % )|
|industrial technologies|53% ( 53 % )|54% ( 54 % )|52% ( 52 % )|
professional instrumentation our professional instrumentation segment offers essential products , software and services used to create actionable intelligence by measuring and monitoring a wide range of physical parameters in industrial applications , including electrical current , radio frequency signals , distance , pressure , temperature , radiation , and hazardous gases . customers for these products and services include industrial service , installation and maintenance professionals , designers and manufacturers of electronic devices and instruments , medical technicians , safety professionals and other customers for whom precision , reliability and safety are critical in their specific applications . 2017 sales for this segment by geographic destination were : north america , 50% ( 50 % ) ; europe , 18% ( 18 % ) ; asia pacific , 26% ( 26 % ) , and all other regions , 6% ( 6 % ) . our professional instrumentation segment consists of our advanced instrumentation & solutions and sensing technologies businesses . our advanced instrumentation & solutions business was primarily established through the acquisitions of qualitrol in the 1980s , fluke corporation in 1998 , pacific scientific company in 1998 , tektronix in 2007 , invetech in 2007 , keithley instruments in 2010 , emaint in 2016 , industrial scientific in 2017 , landauer in 2017 and numerous bolt-on acquisitions . advanced instrumentation & solutions our advanced instrumentation & solutions business consists of : field solutions our field solutions products include a variety of compact professional test tools , thermal imaging and calibration equipment for electrical , industrial , electronic and calibration applications , online condition-based monitoring equipment ; portable gas detection equipment , consumables , and software as a service ( saas ) offerings including safety/user behavior , asset management , and compliance monitoring ; subscription-based technical , analytical , and compliance services to determine occupational and environmental radiation exposure ; and computerized maintenance management software for critical infrastructure in utility , industrial , energy , construction , public safety , mining , and healthcare applications . these products and associated software solutions measure voltage , current , resistance , power quality , frequency , pressure , temperature , radiation , hazardous gas and air quality , among other parameters . typical users of these products and software include electrical engineers , electricians , electronic technicians , safety professionals , medical technicians , network technicians , first-responders , and industrial service , installation and maintenance professionals . the business also makes and sells instruments , controls and monitoring and maintenance systems used by maintenance departments in utilities and industrial facilities to monitor assets , including transformers , generators , motors and switchgear . products are marketed under a variety of brands , including fluke , fluke biomedical , fluke networks , industrial scientific , landauer and qualitrol . product realization our product realization services and products help developers and engineers across the end-to-end product creation cycle from concepts to finished products . our test , measurement and monitoring products are used in the design , manufacturing and development of electronics , industrial , video and other advanced technologies . typical users of these products and services include research and development engineers who design , de-bug , monitor and validate the function and performance of electronic components , subassemblies and end-products , and video equipment manufacturers , content developers and broadcasters . the business also provides a full range of design , engineering and manufacturing services and highly-engineered , modular components to enable conceptualization , development and launch of products in the medical diagnostics , cell therapy and consumer markets . finally , the business designs , develops , manufactures and markets critical , highly-engineered energetic materials components in specialized vertical applications . products and services are marketed .
Question: what was the change in percentage of sales attributable to professional instrumentation from 2016 to 2017?
Answer: | 0.01 |
FINQA4290 | Please answer the given financial question based on the context.
Context: factory stores we extend our reach to additional consumer groups through our 259 factory stores worldwide , which are principally located in major outlet centers . during fiscal 2015 , we added 30 new factory stores and closed six factory stores . we operated the following factory stores as of march 28 , 2015: .
|location|factory stores|
|the americas ( a )|165|
|europe|54|
|asia ( b )|40|
|total|259|
( a ) includes the u.s . and canada . ( b ) includes australia . our worldwide factory stores offer selections of our apparel , accessories , and fragrances . in addition to these product offerings , certain of our factory stores in the americas offer home furnishings . our factory stores range in size from approximately 800 to 26700 square feet . factory stores obtain products from our suppliers , our product licensing partners , and our other retail stores and e-commerce operations , and also serve as a secondary distribution channel for our excess and out-of-season products . concession-based shop-within-shops the terms of trade for shop-within-shops are largely conducted on a concession basis , whereby inventory continues to be owned by us ( not the department store ) until ultimate sale to the end consumer . the salespeople involved in the sales transactions are generally our employees and not those of the department store . as of march 28 , 2015 , we had 536 concession-based shop-within-shops at 236 retail locations dedicated to our products , which were located in asia , australia , new zealand , and europe . the size of our concession-based shop-within-shops ranges from approximately 200 to 6000 square feet . we may share in the cost of building out certain of these shop-within-shops with our department store partners . e-commerce websites in addition to our stores , our retail segment sells products online through our e-commerce channel , which includes : 2022 our north american e-commerce sites located at www.ralphlauren.com and www.clubmonaco.com , as well as our club monaco site in canada located at www.clubmonaco.ca ; 2022 our ralph lauren e-commerce sites in europe , including www.ralphlauren.co.uk ( servicing the united kingdom ) , www.ralphlauren.fr ( servicing belgium , france , italy , luxembourg , the netherlands , portugal , and spain ) , and www.ralphlauren.de ( recently expanded to service denmark , estonia , finland , latvia , slovakia , and sweden , in addition to servicing austria and germany ) ; and 2022 our ralph lauren e-commerce sites in asia , including www.ralphlauren.co.jp ( servicing japan ) , www.ralphlauren.co.kr ( servicing south korea ) , www.ralphlauren.asia ( servicing hong kong , macau , malaysia , and singapore ) , and www.ralphlauren.com.au ( servicing australia and new zealand ) . our ralph lauren e-commerce sites in the u.s. , europe , and asia offer our customers access to a broad array of ralph lauren , double rl , polo , and denim & supply apparel , accessories , fragrance , and home products , and reinforce the luxury image of our brands . while investing in e-commerce operations remains a primary focus , it is an extension of our investment in the integrated omni-channel strategy used to operate our overall retail business , in which our e-commerce operations are interdependent with our physical stores . our club monaco e-commerce sites in the u.s . and canada offer our domestic and canadian customers access to our global assortment of club monaco apparel and accessories product lines , as well as select online exclusives. .
Question: what percentage of factory stores as of march 28 , 2015 where located in europe?
Answer: | 0.20849 |
FINQA4291 | 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: for the performance share program , for the years 2013 , 2012 , and 2011 , what was the maximum shares in the beginning outstanding balance in thousands?
Answer: | 557.0 |
FINQA4292 | Please answer the given financial question based on the context.
Context: jpmorgan chase & co./2014 annual report 291 therefore , are not recorded on the consolidated balance sheets until settlement date . the unsettled reverse repurchase agreements and securities borrowing agreements predominantly consist of agreements with regular-way settlement periods . loan sales- and securitization-related indemnifications mortgage repurchase liability in connection with the firm 2019s mortgage loan sale and securitization activities with the gses , as described in note 16 , the firm has made representations and warranties that the loans sold meet certain requirements . the firm has been , and may be , required to repurchase loans and/or indemnify the gses ( e.g. , with 201cmake-whole 201d payments to reimburse the gses for their realized losses on liquidated loans ) . to the extent that repurchase demands that are received relate to loans that the firm purchased from third parties that remain viable , the firm typically will have the right to seek a recovery of related repurchase losses from the third party . generally , the maximum amount of future payments the firm would be required to make for breaches of these representations and warranties would be equal to the unpaid principal balance of such loans that are deemed to have defects that were sold to purchasers ( including securitization-related spes ) plus , in certain circumstances , accrued interest on such loans and certain expense . the following table summarizes the change in the mortgage repurchase liability for each of the periods presented . summary of changes in mortgage repurchase liability ( a ) year ended december 31 , ( in millions ) 2014 2013 2012 repurchase liability at beginning of period $ 681 $ 2811 $ 3557 net realized gains/ ( losses ) ( b ) 53 ( 1561 ) ( 1158 ) .
|year ended december 31 ( in millions )|2014|2013|2012|
|repurchase liability at beginning of period|$ 681|$ 2811|$ 3557|
|net realized gains/ ( losses ) ( b )|53|-1561 ( 1561 )|-1158 ( 1158 )|
|reclassification to litigation reserve|2014|-179 ( 179 )|2014|
|( benefit ) /provision for repurchase ( c )|-459 ( 459 )|-390 ( 390 )|412|
|repurchase liability at end of period|$ 275|$ 681|$ 2811|
( benefit ) /provision for repurchase ( c ) ( 459 ) ( 390 ) 412 repurchase liability at end of period $ 275 $ 681 $ 2811 ( a ) on october 25 , 2013 , the firm announced that it had reached a $ 1.1 billion agreement with the fhfa to resolve , other than certain limited types of exposures , outstanding and future mortgage repurchase demands associated with loans sold to the gses from 2000 to 2008 . ( b ) presented net of third-party recoveries and included principal losses and accrued interest on repurchased loans , 201cmake-whole 201d settlements , settlements with claimants , and certain related expense . make-whole settlements were $ 11 million , $ 414 million and $ 524 million , for the years ended december 31 , 2014 , 2013 and 2012 , respectively . ( c ) included a provision related to new loan sales of $ 4 million , $ 20 million and $ 112 million , for the years ended december 31 , 2014 , 2013 and 2012 , respectively . private label securitizations the liability related to repurchase demands associated with private label securitizations is separately evaluated by the firm in establishing its litigation reserves . on november 15 , 2013 , the firm announced that it had reached a $ 4.5 billion agreement with 21 major institutional investors to make a binding offer to the trustees of 330 residential mortgage-backed securities trusts issued by j.p.morgan , chase , and bear stearns ( 201crmbs trust settlement 201d ) to resolve all representation and warranty claims , as well as all servicing claims , on all trusts issued by j.p . morgan , chase , and bear stearns between 2005 and 2008 . the seven trustees ( or separate and successor trustees ) for this group of 330 trusts have accepted the rmbs trust settlement for 319 trusts in whole or in part and excluded from the settlement 16 trusts in whole or in part . the trustees 2019 acceptance is subject to a judicial approval proceeding initiated by the trustees , which is pending in new york state court . in addition , from 2005 to 2008 , washington mutual made certain loan level representations and warranties in connection with approximately $ 165 billion of residential mortgage loans that were originally sold or deposited into private-label securitizations by washington mutual . of the $ 165 billion , approximately $ 78 billion has been repaid . in addition , approximately $ 49 billion of the principal amount of such loans has liquidated with an average loss severity of 59% ( 59 % ) . accordingly , the remaining outstanding principal balance of these loans as of december 31 , 2014 , was approximately $ 38 billion , of which $ 8 billion was 60 days or more past due . the firm believes that any repurchase obligations related to these loans remain with the fdic receivership . for additional information regarding litigation , see note 31 . loans sold with recourse the firm provides servicing for mortgages and certain commercial lending products on both a recourse and nonrecourse basis . in nonrecourse servicing , the principal credit risk to the firm is the cost of temporary servicing advances of funds ( i.e. , normal servicing advances ) . in recourse servicing , the servicer agrees to share credit risk with the owner of the mortgage loans , such as fannie mae or freddie mac or a private investor , insurer or guarantor . losses on recourse servicing predominantly occur when foreclosure sales proceeds of the property underlying a defaulted loan are less than the sum of the outstanding principal balance , plus accrued interest on the loan and the cost of holding and disposing of the underlying property . the firm 2019s securitizations are predominantly nonrecourse , thereby effectively transferring the risk of future credit losses to the purchaser of the mortgage-backed securities issued by the trust . at december 31 , 2014 and 2013 , the unpaid principal balance of loans sold with recourse totaled $ 6.1 billion and $ 7.7 billion , respectively . the carrying value of the related liability that the firm has recorded , which is representative of the firm 2019s view of the likelihood it .
Question: what was the ratio of the total unpaid principal balance of loans sold with recourse for 2014 to 2013
Answer: | 0.79221 |
FINQA4293 | Please answer the given financial question based on the context.
Context: citigroup 2019s repurchases are primarily from government sponsored entities . the specific representations and warranties made by the company depend on the nature of the transaction and the requirements of the buyer . market conditions and credit-ratings agency requirements may also affect representations and warranties and the other provisions the company may agree to in loan sales . in the event of a breach of the representations and warranties , the company may be required to either repurchase the mortgage loans ( generally at unpaid principal balance plus accrued interest ) with the identified defects or indemnify ( 201cmake-whole 201d ) the investor or insurer . the company has recorded a repurchase reserve that is included in other liabilities in the consolidated balance sheet . in the case of a repurchase , the company will bear any subsequent credit loss on the mortgage loans . the company 2019s representations and warranties are generally not subject to stated limits in amount or time of coverage . however , contractual liability arises only when the representations and warranties are breached and generally only when a loss results from the breach . in the case of a repurchase , the loan is typically considered a credit- impaired loan and accounted for under sop 03-3 , 201caccounting for certain loans and debt securities , acquired in a transfer 201d ( now incorporated into asc 310-30 , receivables 2014loans and debt securities acquired with deteriorated credit quality ) . these repurchases have not had a material impact on nonperforming loan statistics , because credit-impaired purchased sop 03-3 loans are not included in nonaccrual loans . the company estimates its exposure to losses from its obligation to repurchase previously sold loans based on the probability of repurchase or make-whole and an estimated loss given repurchase or make-whole . this estimate is calculated separately by sales vintage ( i.e. , the year the loans were sold ) based on a combination of historical trends and forecasted repurchases and losses considering the : ( 1 ) trends in requests by investors for loan documentation packages to be reviewed ; ( 2 ) trends in recent repurchases and make-wholes ; ( 3 ) historical percentage of claims made as a percentage of loan documentation package requests ; ( 4 ) success rate in appealing claims ; ( 5 ) inventory of unresolved claims ; and ( 6 ) estimated loss given repurchase or make-whole , including the loss of principal , accrued interest , and foreclosure costs . the company does not change its estimation methodology by counterparty , but the historical experience and trends are considered when evaluating the overall reserve . the request for loan documentation packages is an early indicator of a potential claim . during 2009 , loan documentation package requests and the level of outstanding claims increased . in addition , our loss severity estimates increased during 2009 due to the impact of macroeconomic factors and recent experience . these factors contributed to a $ 493 million change in estimate for this reserve in 2009 . as indicated above , the repurchase reserve is calculated by sales vintage . the majority of the repurchases in 2009 were from the 2006 and 2007 sales vintages , which also represent the vintages with the largest loss- given-repurchase . an insignificant percentage of 2009 repurchases were from vintages prior to 2006 , and this is expected to decrease , because those vintages are later in the credit cycle . although early in the credit cycle , the company has experienced improved repurchase and loss-given-repurchase statistics from the 2008 and 2009 vintages . in the case of a repurchase of a credit-impaired sop 03-3 loan ( now incorporated into asc 310-30 ) , the difference between the loan 2019s fair value and unpaid principal balance at the time of the repurchase is recorded as a utilization of the repurchase reserve . payments to make the investor whole are also treated as utilizations and charged directly against the reserve . the provision for estimated probable losses arising from loan sales is recorded as an adjustment to the gain on sale , which is included in other revenue in the consolidated statement of income . a liability for representations and warranties is estimated when the company sells loans and is updated quarterly . any subsequent adjustment to the provision is recorded in other revenue in the consolidated statement of income . the activity in the repurchase reserve for the years ended december 31 , 2009 and 2008 is as follows: .
|in millions of dollars|2009|2008|
|balance beginning of the year|$ 75|$ 2|
|additions for new sales|33|23|
|change in estimate|493|59|
|utilizations|-119 ( 119 )|-9 ( 9 )|
|balance end of the year|$ 482|$ 75|
goodwill goodwill represents an acquired company 2019s acquisition cost over the fair value of net tangible and intangible assets acquired . goodwill is subject to annual impairment tests , whereby goodwill is allocated to the company 2019s reporting units and an impairment is deemed to exist if the carrying value of a reporting unit exceeds its estimated fair value . furthermore , on any business dispositions , goodwill is allocated to the business disposed of based on the ratio of the fair value of the business disposed of to the fair value of the reporting unit . intangible assets intangible assets 2014including core deposit intangibles , present value of future profits , purchased credit card relationships , other customer relationships , and other intangible assets , but excluding msrs 2014are amortized over their estimated useful lives . intangible assets deemed to have indefinite useful lives , primarily certain asset management contracts and trade names , are not amortized and are subject to annual impairment tests . an impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value . for other intangible assets subject to amortization , an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the intangible asset . other assets and other liabilities other assets include , among other items , loans held-for-sale , deferred tax assets , equity-method investments , interest and fees receivable , premises and equipment , end-user derivatives in a net receivable position , repossessed assets , and other receivables. .
Question: what was the percentage change in the repurchase reserve between 2008 and 2009 , in millions?
Answer: | 5.42667 |
FINQA4294 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2014 ( continued ) note 14 2014commitments and contingencies leases we conduct a major part of our operations using leased facilities and equipment . many of these leases have renewal and purchase options and provide that we pay the cost of property taxes , insurance and maintenance . rent expense on all operating leases for fiscal 2010 , 2009 and 2008 was $ 32.8 million , $ 30.2 million , and $ 30.4 million , respectively . future minimum lease payments for all noncancelable leases at may 31 , 2010 were as follows : operating leases .
||operating leases|
|2011|$ 9856|
|2012|3803|
|2013|2538|
|2014|1580|
|2015|928|
|thereafter|1428|
|total future minimum lease payments|$ 20133|
we are party to a number of claims and lawsuits incidental to our business . in the opinion of management , the reasonably possible outcome of such matters , individually or in the aggregate , will not have a material adverse impact on our financial position , liquidity or results of operations . we define operating taxes as tax contingencies that are unrelated to income taxes , such as sales and property taxes . during the course of operations , we must interpret the meaning of various operating tax matters in the united states and in the foreign jurisdictions in which we do business . taxing authorities in those various jurisdictions may arrive at different interpretations of applicable tax laws and regulations as they relate to such operating tax matters , which could result in the payment of additional taxes in those jurisdictions . as of may 31 , 2010 and 2009 we did not have a liability for operating tax items . the amount of the liability is based on management 2019s best estimate given our history with similar matters and interpretations of current laws and regulations . bin/ica agreements in connection with our acquisition of merchant credit card operations of banks , we have entered into sponsorship or depository and processing agreements with certain of the banks . these agreements allow us to use the banks 2019 identification numbers , referred to as bank identification number for visa transactions and interbank card association number for mastercard transactions , to clear credit card transactions through visa and mastercard . certain of such agreements contain financial covenants , and we were in compliance with all such covenants as of may 31 , 2010 . on june 18 , 2010 , cibc provided notice that it will not renew its sponsorship with us for visa in canada after the initial ten year term . as a result , their canadian visa sponsorship will expire in march 2011 . we are .
Question: at december 2010 what was the percent of the total future minimum lease payments for all noncancelable leases that was due in 2012
Answer: | 0.48954 |
FINQA4295 | Please answer the given financial question based on the context.
Context: cgmhi also has substantial borrowing arrangements consisting of facilities that cgmhi has been advised are available , but where no contractual lending obligation exists . these arrangements are reviewed on an ongoing basis to ensure flexibility in meeting cgmhi 2019s short-term requirements . the company issues both fixed and variable rate debt in a range of currencies . it uses derivative contracts , primarily interest rate swaps , to effectively convert a portion of its fixed rate debt to variable rate debt and variable rate debt to fixed rate debt . the maturity structure of the derivatives generally corresponds to the maturity structure of the debt being hedged . in addition , the company uses other derivative contracts to manage the foreign exchange impact of certain debt issuances . at december 31 , 2009 , the company 2019s overall weighted average interest rate for long-term debt was 3.51% ( 3.51 % ) on a contractual basis and 3.91% ( 3.91 % ) including the effects of derivative contracts . aggregate annual maturities of long-term debt obligations ( based on final maturity dates ) including trust preferred securities are as follows: .
|in millions of dollars|2010|2011|2012|2013|2014|thereafter|
|citigroup parent company|$ 18030|$ 20435|$ 29706|$ 17775|$ 18916|$ 92942|
|other citigroup subsidiaries|18710|29316|17214|5177|12202|14675|
|citigroup global markets holdings inc .|1315|1030|1686|388|522|8481|
|citigroup funding inc .|9107|8875|20738|4792|3255|8732|
|total|$ 47162|$ 59656|$ 69344|$ 28132|$ 34895|$ 124830|
long-term debt at december 31 , 2009 and december 31 , 2008 includes $ 19345 million and $ 24060 million , respectively , of junior subordinated debt . the company formed statutory business trusts under the laws of the state of delaware . the trusts exist for the exclusive purposes of ( i ) issuing trust securities representing undivided beneficial interests in the assets of the trust ; ( ii ) investing the gross proceeds of the trust securities in junior subordinated deferrable interest debentures ( subordinated debentures ) of its parent ; and ( iii ) engaging in only those activities necessary or incidental thereto . upon approval from the federal reserve , citigroup has the right to redeem these securities . citigroup has contractually agreed not to redeem or purchase ( i ) the 6.50% ( 6.50 % ) enhanced trust preferred securities of citigroup capital xv before september 15 , 2056 , ( ii ) the 6.45% ( 6.45 % ) enhanced trust preferred securities of citigroup capital xvi before december 31 , 2046 , ( iii ) the 6.35% ( 6.35 % ) enhanced trust preferred securities of citigroup capital xvii before march 15 , 2057 , ( iv ) the 6.829% ( 6.829 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xviii before june 28 , 2047 , ( v ) the 7.250% ( 7.250 % ) enhanced trust preferred securities of citigroup capital xix before august 15 , 2047 , ( vi ) the 7.875% ( 7.875 % ) enhanced trust preferred securities of citigroup capital xx before december 15 , 2067 , and ( vii ) the 8.300% ( 8.300 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xxi before december 21 , 2067 , unless certain conditions , described in exhibit 4.03 to citigroup 2019s current report on form 8-k filed on september 18 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on november 28 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on march 8 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on july 2 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on august 17 , 2007 , in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on november 27 , 2007 , and in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on december 21 , 2007 , respectively , are met . these agreements are for the benefit of the holders of citigroup 2019s 6.00% ( 6.00 % ) junior subordinated deferrable interest debentures due 2034 . citigroup owns all of the voting securities of these subsidiary trusts . these subsidiary trusts have no assets , operations , revenues or cash flows other than those related to the issuance , administration , and repayment of the subsidiary trusts and the subsidiary trusts 2019 common securities . these subsidiary trusts 2019 obligations are fully and unconditionally guaranteed by citigroup. .
Question: what is the total of aggregate annual maturities of long-term debt obligations for citigroup parent company in millions?
Answer: | 197804.0 |
FINQA4296 | Please answer the given financial question based on the context.
Context: jpmorgan chase & co./2016 annual report 103 risk in the derivatives portfolio . in addition , the firm 2019s risk management process takes into consideration the potential impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality . many factors may influence the nature and magnitude of these correlations over time . to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg . the firm risk manages exposure to changes in cva by entering into credit derivative transactions , as well as interest rate , foreign exchange , equity and commodity derivative transactions . the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the peak , dre and avg metrics . the three measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio . exposure profile of derivatives measures december 31 , 2016 ( in billions ) the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of all collateral , at the dates indicated . the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as defined by s&p and moody 2019s . ratings profile of derivative receivables rating equivalent 2016 2015 ( a ) december 31 , ( in millions , except ratios ) exposure net of all collateral % ( % ) of exposure net of all collateral exposure net of all collateral % ( % ) of exposure net of all collateral .
|rating equivalent december 31 ( in millions except ratios )|rating equivalent exposure net of all collateral|rating equivalent % ( % ) of exposure netof all collateral|exposure net of all collateral|% ( % ) of exposure netof all collateral|
|aaa/aaa to aa-/aa3|$ 11449|28% ( 28 % )|$ 10371|24% ( 24 % )|
|a+/a1 to a-/a3|8505|20|10595|25|
|bbb+/baa1 to bbb-/baa3|13127|32|13807|32|
|bb+/ba1 to b-/b3|7308|18|7500|17|
|ccc+/caa1 and below|984|2|824|2|
|total|$ 41373|100% ( 100 % )|$ 43097|100% ( 100 % )|
( a ) prior period amounts have been revised to conform with the current period presentation . as previously noted , the firm uses collateral agreements to mitigate counterparty credit risk . the percentage of the firm 2019s derivatives transactions subject to collateral agreements 2014 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity 2014 was 90% ( 90 % ) as of december 31 , 2016 , largely unchanged compared with 87% ( 87 % ) as of december 31 , 2015 . credit derivatives the firm uses credit derivatives for two primary purposes : first , in its capacity as a market-maker , and second , as an end-user to manage the firm 2019s own credit risk associated with various exposures . for a detailed description of credit derivatives , see credit derivatives in note 6 . credit portfolio management activities included in the firm 2019s end-user activities are credit derivatives used to mitigate the credit risk associated with traditional lending activities ( loans and unfunded commitments ) and derivatives counterparty exposure in the firm 2019s wholesale businesses ( collectively , 201ccredit portfolio management 201d activities ) . information on credit portfolio management activities is provided in the table below . for further information on derivatives used in credit portfolio management activities , see credit derivatives in note 6 . the firm also uses credit derivatives as an end-user to manage other exposures , including credit risk arising from certain securities held in the firm 2019s market-making businesses . these credit derivatives are not included in credit portfolio management activities ; for further information on these credit derivatives as well as credit derivatives used in the firm 2019s capacity as a market-maker in credit derivatives , see credit derivatives in note 6. .
Question: what percentage of the 2016 ratings profile of derivative receivables had a rating equivalent for junk ratings?
Answer: | 20.0 |
FINQA4297 | Please answer the given financial question based on the context.
Context: notes to the audited consolidated financial statements director stock compensation subplan eastman's 2016 director stock compensation subplan ( "directors' subplan" ) , a component of the 2012 omnibus plan , remains in effect until terminated by the board of directors or the earlier termination of thf e 2012 omnibus plan . the directors' subplan provides for structured awards of restricted shares to non-employee members of the board of directors . restricted shares awarded under the directors' subplan are subject to the same terms and conditions of the 2012 omnibus plan . the directors' subplan does not constitute a separate source of shares for grant of equity awards and all shares awarded are part of the 10 million shares authorized under the 2012 omnibus plan . shares of restricted stock are granted on the first day of a non-f employee director's initial term of service and shares of restricted stock are granted each year to each non-employee director on the date of the annual meeting of stockholders . general the company is authorized by the board of directors under the 2012 omnibus plan tof provide awards to employees and non- employee members of the board of directors . it has been the company's practice to issue new shares rather than treasury shares for equity awards that require settlement by the issuance of common stock and to withhold or accept back shares awarded to cover the related income tax obligations of employee participants . shares of unrestricted common stock owned by non-d employee directors are not eligible to be withheld or acquired to satisfy the withholding obligation related to their income taxes . aa shares of unrestricted common stock owned by specified senior management level employees are accepted by the company to pay the exercise price of stock options in accordance with the terms and conditions of their awards . for 2016 , 2015 , and 2014 , total share-based compensation expense ( before tax ) of approximately $ 36 million , $ 36 million , and $ 28 million , respectively , was recognized in selling , general and administrative exd pense in the consolidated statements of earnings , comprehensive income and retained earnings for all share-based awards of which approximately $ 7 million , $ 7 million , and $ 4 million , respectively , related to stock options . the compensation expense is recognized over the substantive vesting period , which may be a shorter time period than the stated vesting period for qualifying termination eligible employees as defined in the forms of award notice . for 2016 , 2015 , and 2014 , approximately $ 2 million , $ 2 million , and $ 1 million , respectively , of stock option compensation expense was recognized due to qualifying termination eligibility preceding the requisite vesting period . stock option awards options have been granted on an annual basis to non-employee directors under the directors' subplan and predecessor plans and by the compensation and management development committee of the board of directors under the 2012 omnibus plan and predecessor plans to employees . option awards have an exercise price equal to the closing price of the company's stock on the date of grant . the term of options is 10 years with vesting periods thf at vary up to three years . vesting usually occurs ratably over the vesting period or at the end of the vesting period . the company utilizes the black scholes merton option valuation model which relies on certain assumptions to estimate an option's fair value . the weighted average assumptions used in the determination of fair value for stock options awarded in 2016 , 2015 , and 2014 are provided in the table below: .
|assumptions|2016|2015|2014|
|expected volatility rate|23.71% ( 23.71 % )|24.11% ( 24.11 % )|25.82% ( 25.82 % )|
|expected dividend yield|2.31% ( 2.31 % )|1.75% ( 1.75 % )|1.70% ( 1.70 % )|
|average risk-free interest rate|1.23% ( 1.23 % )|1.45% ( 1.45 % )|1.44% ( 1.44 % )|
|expected term years|5.0|4.8|4.7|
.
Question: what percent of the total share-based compensation expense in 2016 was related to stock options?
Answer: | 0.19444 |
FINQA4298 | Please answer the given financial question based on the context.
Context: we define past-due loans as loans on which contractual principal or interest payments are over 90 days delinquent , but for which interest continues to be accrued . no institutional loans were 90 days or more contractually past due as of december 31 , 2011 , 2010 , 2009 , 2008 or 2007 . although a portion of the cre loans was 90 days or more contractually past due as of december 31 , 2011 , 2010 , 2009 and 2008 , we do not report them as past-due loans , because in accordance with gaap , the interest earned on these loans is based on an accretable yield resulting from management 2019s expectations with respect to the future cash flows for each loan relative to both the timing and collection of principal and interest as of the reporting date , not the loans 2019 contractual payment terms . these cash flow estimates are updated quarterly to reflect changes in management 2019s expectations , which consider market conditions . we generally place loans on non-accrual status once principal or interest payments are 60 days past due , or earlier if management determines that full collection is not probable . loans 60 days past due , but considered both well-secured and in the process of collection , may be excluded from non-accrual status . for loans placed on non-accrual status , revenue recognition is suspended . as of december 31 , 2011 and 2010 , approximately $ 5 million and $ 158 million , respectively , of the aforementioned cre loans had been placed by management on non-accrual status , as the yield associated with these loans , determined when the loans were acquired , was deemed to be non-accretable . this determination was based on management 2019s expectations of the future collection of principal and interest from the loans . the decline in loans on non-accrual status at december 31 , 2011 compared to december 31 , 2010 resulted mainly from the transfer of certain cre loans to other real estate owned in 2011 in connection with foreclosure or similar transactions . these transactions had no impact on our 2011 consolidated statement of income . the following table presents contractual maturities for loan and lease balances as of december 31 , 2011 : ( in millions ) total under 1 year 1 to 5 years over 5 years institutional : investment funds : u.s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5592 $ 5261 $ 331 non-u.s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 796 796 2014 commercial and financial : u.s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 563 533 30 non-u.s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 453 440 13 purchased receivables : u.s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 563 2014 49 $ 514 non-u.s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 372 2014 372 2014 lease financing : u.s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 397 9 39 349 non-u.s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 857 100 217 540 total institutional . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9593 7139 1051 1403 commercial real estate : u.s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 460 41 21 398 total loans and leases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 10053 $ 7180 $ 1072 $ 1801 the following table presents the classification of loan and lease balances due after one year according to sensitivity to changes in interest rates as of december 31 , 2011 : ( in millions ) .
|loans and leases with predetermined interest rates|$ 1145|
|loans and leases with floating or adjustable interest rates|1728|
|total|$ 2873|
.
Question: what was the percent of the classification of loan and lease balances due after one year that was loans and leases with predetermined interest rates
Answer: | 0.39854 |
FINQA4299 | Please answer the given financial question based on the context.
Context: foreign currency exchange rate risk many of our non-u.s . companies maintain both assets and liabilities in local currencies . therefore , foreign exchange rate risk is generally limited to net assets denominated in those foreign currencies . foreign exchange rate risk is reviewed as part of our risk management process . locally required capital levels are invested in home currencies in order to satisfy regulatory require- ments and to support local insurance operations regardless of currency fluctuations . the principal currencies creating foreign exchange risk for us are the british pound sterling , the euro , and the canadian dollar . the following table provides more information on our exposure to foreign exchange rate risk at december 31 , 2008 and 2007. .
|( in millions of u.s . dollars )|2008|2007|
|fair value of net assets denominated in foreign currencies|$ 1127|$ 1651|
|percentage of fair value of total net assets|7.8% ( 7.8 % )|9.9% ( 9.9 % )|
|pre-tax impact on equity of hypothetical 10 percent strengthening of the u.s . dollar|$ 84|$ 150|
reinsurance of gmdb and gmib guarantees our net income is directly impacted by changes in the reserves calculated in connection with the reinsurance of variable annuity guarantees , primarily gmdb and gmib . these reserves are calculated in accordance with sop 03-1 ( sop reserves ) and changes in these reserves are reflected as life and annuity benefit expense , which is included in life underwriting income . in addition , our net income is directly impacted by the change in the fair value of the gmib liability ( fvl ) , which is classified as a derivative according to fas 133 . the fair value liability established for a gmib reinsurance contract represents the differ- ence between the fair value of the contract and the sop 03-1 reserves . changes in the fair value of the gmib liability , net of associated changes in the calculated sop 03-1 reserve , are reflected as realized gains or losses . ace views our variable annuity reinsurance business as having a similar risk profile to that of catastrophe reinsurance , with the probability of long-term economic loss relatively small at the time of pricing . adverse changes in market factors and policyholder behavior will have an impact on both life underwriting income and net income . when evaluating these risks , we expect to be compensated for taking both the risk of a cumulative long-term economic net loss , as well as the short-term accounting variations caused by these market movements . therefore , we evaluate this business in terms of its long-term eco- nomic risk and reward . the ultimate risk to the variable annuity guaranty reinsurance business is a long-term underperformance of investment returns , which can be exacerbated by a long-term reduction in interest rates . following a market downturn , continued market underperformance over a period of five to seven years would eventually result in a higher level of paid claims as policyholders accessed their guarantees through death or annuitization . however , if market conditions improved following a downturn , sop 03-1 reserves and fair value liability would fall reflecting a decreased likelihood of future claims , which would result in an increase in both life underwriting income and net income . as of december 31 , 2008 , management established the sop 03-1 reserve based on the benefit ratio calculated using actual market values at december 31 , 2008 . management exercises judgment in determining the extent to which short-term market movements impact the sop 03-1 reserve . the sop 03-1 reserve is based on the calculation of a long-term benefit ratio ( or loss ratio ) for the variable annuity guarantee reinsurance . despite the long-term nature of the risk the benefit ratio calculation is impacted by short-term market movements that may be judged by management to be temporary or transient . management will , in keeping with the language in sop 03-1 , regularly examine both quantitative and qualitative analysis and management will determine if , in its judgment , the change in the calculated benefit ratio is of sufficient magnitude and has persisted for a sufficient duration to warrant a change in the benefit ratio used to establish the sop 03-1 reserve . this has no impact on either premium received or claims paid nor does it impact the long-term profit or loss of the variable annuity guaran- tee reinsurance . the sop 03-1 reserve and fair value liability calculations are directly affected by market factors , including equity levels , interest rate levels , credit risk and implied volatilities , as well as policyholder behaviors , such as annuitization and lapse rates . the table below shows the sensitivity , as of december 31 , 2008 , of the sop 03-1 reserves and fair value liability associated with the variable annuity guarantee reinsurance portfolio . in addition , the tables below show the sensitivity of the fair value of specific derivative instruments held ( hedge value ) , which includes instruments purchased in january 2009 , to partially offset the risk in the variable annuity guarantee reinsurance portfolio . although these derivatives do not receive hedge accounting treatment , some portion of the change in value may be used to offset changes in the sop 03-1 reserve. .
Question: what was the ratio of the pre-tax impact on equity of hypothetical 10 percent strengthening of the u.s . dollar in 2007 to 2008
Answer: | 1.78571 |
Subsets and Splits
No saved queries yet
Save your SQL queries to embed, download, and access them later. Queries will appear here once saved.