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FINQA4300 | Please answer the given financial question based on the context.
Context: z i m m e r h o l d i n g s , i n c . a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k contractual obligations the company has entered into contracts with various third parties in the normal course of business which will require future payments . the following table illustrates the company 2019s contractual obligations : than 1 - 3 4 - 5 after contractual obligations total 1 year years years 5 years .
|contractual obligations|total|less than 1 year|1 - 3 years|4 - 5 years|after 5 years|
|long-term debt|$ 1103.0|$ 100.0|$ 655.3|$ 347.7|$ 2013|
|capital leases|6.1|1.3|3.7|1.1|2013|
|operating leases|77.2|23.0|32.3|9.2|12.7|
|purchase obligations|13.3|13.3|2013|2013|2013|
|other long-term liabilities|352.6|2013|139.9|42.0|170.7|
|total contractual obligations|$ 1552.2|$ 137.6|$ 831.2|$ 400.0|$ 183.4|
critical accounting estimates the financial results of the company are affected by the income taxes 2013 the company estimates income selection and application of accounting policies and methods . tax expense and income tax liabilities and assets by taxable significant accounting policies which require management 2019s jurisdiction . realization of deferred tax assets in each taxable judgment are discussed below . jurisdiction is dependent on the company 2019s ability to generate future taxable income sufficient to realize the excess inventory and instruments 2013 the company benefits . the company evaluates deferred tax assets on must determine as of each balance sheet date how much , if an ongoing basis and provides valuation allowances if it is any , of its inventory may ultimately prove to be unsaleable or determined to be 2018 2018more likely than not 2019 2019 that the deferred unsaleable at its carrying cost . similarly , the company must tax benefit will not be realized . federal income taxes are also determine if instruments on hand will be put to provided on the portion of the income of foreign subsidiaries productive use or remain undeployed as a result of excess that is expected to be remitted to the u.s . the company supply . reserves are established to effectively adjust operates within numerous taxing jurisdictions . the company inventory and instruments to net realizable value . to is subject to regulatory review or audit in virtually all of determine the appropriate level of reserves , the company those jurisdictions and those reviews and audits may require evaluates current stock levels in relation to historical and extended periods of time to resolve . the company makes use expected patterns of demand for all of its products and of all available information and makes reasoned judgments instrument systems and components . the basis for the regarding matters requiring interpretation in establishing determination is generally the same for all inventory and tax expense , liabilities and reserves . the company believes instrument items and categories except for work-in-progress adequate provisions exist for income taxes for all periods inventory , which is recorded at cost . obsolete or and jurisdictions subject to review or audit . discontinued items are generally destroyed and completely written off . management evaluates the need for changes to commitments and contingencies 2013 accruals for valuation reserves based on market conditions , competitive product liability and other claims are established with offerings and other factors on a regular basis . centerpulse internal and external counsel based on current information historically applied a similar conceptual framework in and historical settlement information for claims , related fees estimating market value of excess inventory and instruments and for claims incurred but not reported . an actuarial model under international financial reporting standards and is used by the company to assist management in determining u.s . generally accepted accounting principles . within that an appropriate level of accruals for product liability claims . framework , zimmer and centerpulse differed however , in historical patterns of claim loss development over time are certain respects , to their approaches to such estimation . statistically analyzed to arrive at factors which are then following the acquisition , the company determined that a applied to loss estimates in the actuarial model . the amounts consistent approach is necessary to maintaining effective established represent management 2019s best estimate of the control over financial reporting . consideration was given to ultimate costs that it will incur under the various both approaches and the company established a common contingencies . estimation technique taking both prior approaches into account . this change in estimate resulted in a charge to earnings of $ 3.0 million after tax in the fourth quarter . such change is not considered material to the company 2019s financial position , results of operations or cash flows. .
Question: what percent of contractual obligations is long term debt?
Answer: | 0.7106 |
FINQA4301 | Please answer the given financial question based on the context.
Context: is&gs 2019 operating profit decreased $ 60 million , or 8% ( 8 % ) , for 2014 compared to 2013 . the decrease was primarily attributable to the activities mentioned above for sales , lower risk retirements and reserves recorded on an international program , partially offset by severance recoveries related to the restructuring announced in november 2013 of approximately $ 20 million for 2014 . adjustments not related to volume , including net profit booking rate adjustments , were approximately $ 30 million lower for 2014 compared to 2013 . 2013 compared to 2012 is&gs 2019 net sales decreased $ 479 million , or 5% ( 5 % ) , for 2013 compared to 2012 . the decrease was attributable to lower net sales of about $ 495 million due to decreased volume on various programs ( command and control programs for classified customers , ngi and eram programs ) ; and approximately $ 320 million due to the completion of certain programs ( such as total information processing support services , the transportation worker identification credential and the outsourcing desktop initiative for nasa ) . the decrease was partially offset by higher net sales of about $ 340 million due to the start-up of certain programs ( such as the disa gsm-o and the national science foundation antarctic support ) . is&gs 2019 operating profit decreased $ 49 million , or 6% ( 6 % ) , for 2013 compared to 2012 . the decrease was primarily attributable to lower operating profit of about $ 55 million due to certain programs nearing the end of their life cycles , partially offset by higher operating profit of approximately $ 15 million due to the start-up of certain programs . adjustments not related to volume , including net profit booking rate adjustments and other matters , were comparable for 2013 compared to 2012 . backlog backlog increased in 2014 compared to 2013 primarily due to several multi-year international awards and various u.s . multi-year extensions . this increase was partially offset by declining activities on various direct warfighter support and command and control programs impacted by defense budget reductions . backlog decreased in 2013 compared to 2012 primarily due to lower orders on several programs ( such as eram and ngi ) , higher sales on certain programs ( the national science foundation antarctic support and the disa gsm-o ) and declining activities on several smaller programs primarily due to the continued downturn in federal information technology budgets . trends we expect is&gs 2019 net sales to decline in 2015 in the low to mid single digit percentage range as compared to 2014 , primarily driven by the continued downturn in federal information technology budgets , an increasingly competitive environment , including the disaggregation of existing contracts , and new contract award delays , partially offset by increased sales resulting from acquisitions that occurred during the year . operating profit is expected to decline in the low double digit percentage range in 2015 primarily driven by volume and an increase in intangible amortization from 2014 acquisition activity , resulting in 2015 margins that are lower than 2014 results . missiles and fire control our mfc business segment provides air and missile defense systems ; tactical missiles and air-to-ground precision strike weapon systems ; logistics and other technical services ; fire control systems ; mission operations support , readiness , engineering support and integration services ; and manned and unmanned ground vehicles . mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system , hellfire , jassm , javelin , apache , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) and sof clss . mfc 2019s operating results included the following ( in millions ) : .
||2014|2013|2012|
|net sales|$ 7680|$ 7757|$ 7457|
|operating profit|1358|1431|1256|
|operating margins|17.7% ( 17.7 % )|18.4% ( 18.4 % )|16.8% ( 16.8 % )|
|backlog at year-end|$ 13600|$ 15000|$ 14700|
2014 compared to 2013 mfc 2019s net sales for 2014 decreased $ 77 million , or 1% ( 1 % ) , compared to 2013 . the decrease was primarily attributable to lower net sales of approximately $ 385 million for technical services programs due to decreased volume reflecting market pressures ; and about $ 115 million for tactical missile programs due to fewer deliveries ( primarily high mobility artillery .
Question: what is the growth rate in operating profit for mfc in 2014?
Answer: | -0.05101 |
FINQA4302 | Please answer the given financial question based on the context.
Context: to the two-class method . the provisions of this guidance were required for fiscal years beginning after december 15 , 2008 . the company has adopted this guidance for current period computations of earnings per share , and has updated prior period computations of earnings per share . the adoption of this guidance in the first quarter of 2009 did not have a material impact on the company 2019s computation of earnings per share . refer to note 11 for further discussion . in june 2008 , the fasb issued accounting guidance addressing the determination of whether provisions that introduce adjustment features ( including contingent adjustment features ) would prevent treating a derivative contract or an embedded derivative on a company 2019s own stock as indexed solely to the company 2019s stock . this guidance was effective for fiscal years beginning after december 15 , 2008 . the adoption of this guidance in the first quarter of 2009 did not have any impact on the company 2019s consolidated financial statements . in march 2008 , the fasb issued accounting guidance intended to improve financial reporting about derivative instruments and hedging activities by requiring enhanced disclosures to enable investors to better understand their effects on an entity 2019s financial position , financial performance , and cash flows . this guidance was effective for the fiscal years and interim periods beginning after november 15 , 2008 . the adoption of this guidance in the first quarter of 2009 did not have any impact on the company 2019s consolidated financial statements . in december 2007 , the fasb issued replacement guidance that requires the acquirer of a business to recognize and measure the identifiable assets acquired , the liabilities assumed , and any non-controlling interest in the acquired entity at fair value . this replacement guidance also requires transaction costs related to the business combination to be expensed as incurred . it was effective for business combinations for which the acquisition date was on or after the start of the fiscal year beginning after december 15 , 2008 . the adoption of this guidance in the first quarter of 2009 did not have any impact on the company 2019s consolidated financial statements . in december 2007 , the fasb issued accounting guidance that establishes accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary . this guidance was effective for fiscal years beginning after december 15 , 2008 . the adoption of this guidance in the first quarter of 2009 did not have any impact on the company 2019s consolidated financial statements . in september 2006 , the fasb issued accounting guidance which defines fair value , establishes a framework for measuring fair value in accordance with generally accepted accounting principles and expands disclosures about fair value measurements . this guidance was effective for fiscal years beginning after november 15 , 2007 , however the fasb delayed the effective date to fiscal years beginning after november 15 , 2008 for nonfinancial assets and nonfinancial liabilities , except those items recognized or disclosed at fair value on an annual or more frequent basis . the adoption of this guidance for nonfinancial assets and liabilities in the first quarter of 2009 did not have any impact on the company 2019s consolidated financial statements . 3 . inventories inventories consisted of the following: .
|( in thousands )|december 31 , 2009|december 31 , 2008|
|finished goods|$ 155596|$ 187072|
|raw materials|785|731|
|work-in-process|71|6|
|subtotal inventories|156452|187809|
|inventories reserve|-7964 ( 7964 )|-5577 ( 5577 )|
|total inventories|$ 148488|$ 182232|
.
Question: what was the percent of the change in the inventory reserve from 2008 to 2009
Answer: | 0.42801 |
FINQA4303 | Please answer the given financial question based on the context.
Context: a valuation allowance totaling $ 45.4 million , $ 43.9 million and $ 40.4 million as of 2013 , 2012 and 2011 year end , respectively , has been established for deferred income tax assets primarily related to certain subsidiary loss carryforwards that may not be realized . realization of the net deferred income tax assets is dependent on generating sufficient taxable income prior to their expiration . although realization is not assured , management believes it is more- likely-than-not that the net deferred income tax assets will be realized . the amount of the net deferred income tax assets considered realizable , however , could change in the near term if estimates of future taxable income during the carryforward period fluctuate . the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for 2013 , 2012 and ( amounts in millions ) 2013 2012 2011 .
|( amounts in millions )|2013|2012|2011|
|unrecognized tax benefits at beginning of year|$ 6.8|$ 11.0|$ 11.1|
|gross increases 2013 tax positions in prior periods|1.5|0.7|0.5|
|gross decreases 2013 tax positions in prior periods|-1.6 ( 1.6 )|-4.9 ( 4.9 )|-0.4 ( 0.4 )|
|gross increases 2013 tax positions in the current period|0.5|1.2|2.8|
|settlements with taxing authorities|-2.1 ( 2.1 )|2013|-1.2 ( 1.2 )|
|lapsing of statutes of limitations|-0.5 ( 0.5 )|-1.2 ( 1.2 )|-1.8 ( 1.8 )|
|unrecognized tax benefits at end of year|$ 4.6|$ 6.8|$ 11.0|
of the $ 4.6 million , $ 6.8 million and $ 11.0 million of unrecognized tax benefits as of 2013 , 2012 and 2011 year end , respectively , approximately $ 4.6 million , $ 4.1 million and $ 9.1 million , respectively , would impact the effective income tax rate if recognized . interest and penalties related to unrecognized tax benefits are recorded in income tax expense . during 2013 and 2012 , the company reversed a net $ 0.6 million and $ 0.5 million , respectively , of interest and penalties to income associated with unrecognized tax benefits . as of 2013 , 2012 and 2011 year end , the company has provided for $ 0.9 million , $ 1.6 million and $ 1.6 million , respectively , of accrued interest and penalties related to unrecognized tax benefits . the unrecognized tax benefits and related accrued interest and penalties are included in 201cother long-term liabilities 201d on the accompanying consolidated balance sheets . snap-on and its subsidiaries file income tax returns in the united states and in various state , local and foreign jurisdictions . it is reasonably possible that certain unrecognized tax benefits may either be settled with taxing authorities or the statutes of limitations for such items may lapse within the next 12 months , causing snap-on 2019s gross unrecognized tax benefits to decrease by a range of zero to $ 1.1 million . over the next 12 months , snap-on anticipates taking certain tax positions on various tax returns for which the related tax benefit does not meet the recognition threshold . accordingly , snap-on 2019s gross unrecognized tax benefits may increase by a range of zero to $ 0.8 million over the next 12 months for uncertain tax positions expected to be taken in future tax filings . with few exceptions , snap-on is no longer subject to u.s . federal and state/local income tax examinations by tax authorities for years prior to 2008 , and snap-on is no longer subject to non-u.s . income tax examinations by tax authorities for years prior to 2006 . the undistributed earnings of all non-u.s . subsidiaries totaled $ 556.0 million , $ 492.2 million and $ 416.4 million as of 2013 , 2012 and 2011 year end , respectively . snap-on has not provided any deferred taxes on these undistributed earnings as it considers the undistributed earnings to be permanently invested . determination of the amount of unrecognized deferred income tax liability related to these earnings is not practicable . 2013 annual report 83 .
Question: in 2013 what was the percent of the unrecognized income tax benefit that could impact effective income tax rate if recognized
Answer: | 0.8913 |
FINQA4304 | Please answer the given financial question based on the context.
Context: page 59 of 94 notes to consolidated financial statements ball corporation and subsidiaries 13 . debt and interest costs ( continued ) long-term debt obligations outstanding at december 31 , 2007 , have maturities of $ 127.1 million , $ 160 million , $ 388.4 million , $ 625.1 million and $ 550.3 million for the years ending december 31 , 2008 through 2012 , respectively , and $ 456.1 million thereafter . ball provides letters of credit in the ordinary course of business to secure liabilities recorded in connection with industrial development revenue bonds and certain self-insurance arrangements . letters of credit outstanding at december 31 , 2007 and 2006 , were $ 41 million and $ 52.4 million , respectively . the notes payable and senior credit facilities are guaranteed on a full , unconditional and joint and several basis by certain of the company 2019s domestic wholly owned subsidiaries . certain foreign denominated tranches of the senior credit facilities are similarly guaranteed by certain of the company 2019s wholly owned foreign subsidiaries . note 22 contains further details as well as condensed , consolidating financial information for the company , segregating the guarantor subsidiaries and non-guarantor subsidiaries . the company was not in default of any loan agreement at december 31 , 2007 , and has met all debt payment obligations . the u.s . note agreements , bank credit agreement and industrial development revenue bond agreements contain certain restrictions relating to dividend payments , share repurchases , investments , financial ratios , guarantees and the incurrence of additional indebtedness . on march 27 , 2006 , ball expanded its senior secured credit facilities with the addition of a $ 500 million term d loan facility due in installments through october 2011 . also on march 27 , 2006 , ball issued at a price of 99.799 percent $ 450 million of 6.625% ( 6.625 % ) senior notes ( effective yield to maturity of 6.65 percent ) due in march 2018 . the proceeds from these financings were used to refinance existing u.s . can debt with ball corporation debt at lower interest rates , acquire certain north american plastic container net assets from alcan and reduce seasonal working capital debt . ( see note 3 for further details of the acquisitions. ) on october 13 , 2005 , ball refinanced its senior secured credit facilities to extend debt maturities at lower interest rate spreads and provide the company with additional borrowing capacity for future growth . during the third and fourth quarters of 2005 , ball redeemed its 7.75% ( 7.75 % ) senior notes due in august 2006 . the refinancing and senior note redemptions resulted in a debt refinancing charge of $ 19.3 million ( $ 12.3 million after tax ) for the related call premium and unamortized debt issuance costs . a summary of total interest cost paid and accrued follows: .
|( $ in millions )|2007|2006|2005|
|interest costs before refinancing costs|$ 155.8|$ 142.5|$ 102.4|
|debt refinancing costs|2013|2013|19.3|
|total interest costs|155.8|142.5|121.7|
|amounts capitalized|-6.4 ( 6.4 )|-8.1 ( 8.1 )|-5.3 ( 5.3 )|
|interest expense|$ 149.4|$ 134.4|$ 116.4|
|interest paid during the year ( a )|$ 153.9|$ 125.4|$ 138.5|
( a ) includes $ 6.6 million paid in 2005 in connection with the redemption of the company 2019s senior and senior subordinated notes. .
Question: what is the percentage change in interest expense from 2006 to 2007?
Answer: | 0.11161 |
FINQA4305 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis of financial conditionand results of operations d u k e r e a l t y c o r p o r a t i o n 1 1 2 0 0 2 a n n u a l r e p o r t 2022 interest expense on the company 2019s secured debt decreased from $ 30.8 million in 2001 to $ 22.9 million in 2002 as the company paid off $ 13.5 million of secured debt throughout 2002 and experienced lower borrowings on its secured line of credit during 2002 compared to 2001 . additionally , the company paid off approximately $ 128.5 million of secured debt throughout 2001 . 2022 interest expense on the company 2019s $ 500 million unsecured line of credit decreased by approximately $ 1.1 million in 2002 compared to 2001 as the company maintained lower balances on the line throughout most of 2002 . as a result of the above-mentioned items , earnings from rental operations decreased $ 35.0 million from $ 254.1 million for the year ended december 31 , 2001 , to $ 219.1 million for the year ended december 31 , 2002 . service operations service operations primarily consist of leasing , management , construction and development services for joint venture properties and properties owned by third parties . service operations revenues decreased from $ 80.5 million for the year ended december 31 , 2001 , to $ 68.6 million for the year ended december 31 , 2002 . the prolonged effect of the slow economy has been the primary factor in the overall decrease in revenues . the company experienced a decrease of $ 12.7 million in net general contractor revenues because of a decrease in the volume of construction in 2002 , compared to 2001 , as well as slightly lower profit margins . property management , maintenance and leasing fee revenues decreased from $ 22.8 million in 2001 to $ 14.3 million in 2002 primarily because of a decrease in landscaping maintenance revenue resulting from the sale of the landscaping operations in the third quarter of 2001 . construction management and development activity income represents construction and development fees earned on projects where the company acts as the construction manager along with profits from the company 2019s held for sale program whereby the company develops a property for sale upon completion . the increase in revenues of $ 10.3 million in 2002 is primarily due to an increase in volume of the sale of properties from the held for sale program . service operations expenses decreased from $ 45.3 million in 2001 to $ 38.3 million in 2002 . the decrease is attributable to the decrease in construction and development activity and the reduced overhead costs as a result of the sale of the landscape business in 2001 . as a result of the above , earnings from service operations decreased from $ 35.1 million for the year ended december 31 , 2001 , to $ 30.3 million for the year ended december 31 , 2002 . general and administrative expense general and administrative expense increased from $ 15.6 million in 2001 to $ 25.4 million for the year ended december 31 , 2002 . the company has been successful reducing total operating and administration costs ; however , reduced construction and development activities have resulted in a greater amount of overhead being charged to general and administrative expense instead of being capitalized into development projects or charged to service operations . other income and expenses gain on sale of land and depreciable property dispositions , net of impairment adjustment , is comprised of the following amounts in 2002 and 2001 : gain on sales of depreciable properties represent sales of previously held for investment rental properties . beginning in 2000 and continuing into 2001 , the company pursued favorable opportunities to dispose of real estate assets that no longer met long-term investment objectives . in 2002 , the company significantly reduced this property sales program until the business climate improves and provides better investment opportunities for the sale proceeds . gain on land sales represents sales of undeveloped land owned by the company . the company pursues opportunities to dispose of land in markets with a high concentration of undeveloped land and those markets where the land no longer meets strategic development plans of the company . the company recorded a $ 9.4 million adjustment in 2002 associated with six properties determined to have an impairment of book value . the company has analyzed each of its in-service properties and has determined that there are no additional valuation adjustments that need to be made as of december 31 , 2002 . the company recorded an adjustment of $ 4.8 million in 2001 for one property that the company had contracted to sell for a price less than its book value . other revenue for the year ended december 31 , 2002 , includes $ 1.4 million of gain related to an interest rate swap that did not qualify for hedge accounting. .
||2002|2001|
|gain on sales of depreciable properties|$ 4491|$ 45428|
|gain on land sales|4478|5080|
|impairment adjustment|-9379 ( 9379 )|-4800 ( 4800 )|
|total|$ -410 ( 410 )|$ 45708|
.
Question: what is the percent change in gain on land sales from 2001 to 2002?
Answer: | -11.85039 |
FINQA4306 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis expected replacement of london interbank offered rate central banks around the world , including the federal reserve , have commissioned working groups of market participants and others with the goal of finding suitable replacements for libor based on observable market transac- tions . it is expected that a transition away from the wide- spread use of libor to alternative rates will occur over the course of the next few years . effects of inflation and changes in interest and foreign exchange rates to the extent that an increased inflation outlook results in rising interest rates or has negative impacts on the valuation of financial instruments that exceed the impact on the value of our liabilities , it may adversely affect our financial position and profitability . rising inflation may also result in increases in our non-interest expenses that may not be readily recover- able in higher prices of services offered . other changes in the interest rate environment and related volatility , as well as expectations about the level of future interest rates , could also impact our results of operations . a significant portion of our business is conducted in curren- cies other than the u.s . dollar , and changes in foreign exchange rates relative to the u.s . dollar , therefore , can affect the value of non-u.s . dollar net assets , revenues and expenses . potential exposures as a result of these fluctuations in currencies are closely monitored , and , where cost-justified , strategies are adopted that are designed to reduce the impact of these fluctuations on our financial performance . these strategies may include the financing of non-u.s . dollar assets with direct or swap-based borrowings in the same currency and the use of currency forward contracts or the spot market in various hedging transactions related to net assets , revenues , expenses or cash flows . for information about cumulative foreign currency translation adjustments , see note 15 to the financial statements . off-balance sheet arrangements and contractual obligations off-balance sheet arrangements we enter into various off-balance sheet arrangements , including through unconsolidated spes and lending-related financial instruments ( e.g. , guarantees and commitments ) , primarily in connection with the institutional securities and investment management business segments . we utilize spes primarily in connection with securitization activities . for information on our securitization activities , see note 13 to the financial statements . for information on our commitments , obligations under certain guarantee arrangements and indemnities , see note 12 to the financial statements . for further information on our lending commitments , see 201cquantitative and qualitative disclosures about market risk 2014risk management 2014credit risk 2014lending activities . 201d contractual obligations in the normal course of business , we enter into various contractual obligations that may require future cash payments . contractual obligations include certain borrow- ings , other secured financings , contractual interest payments , contractual payments on time deposits , operating leases and purchase obligations . contractual obligations at december 31 , 2017 payments due in : $ in millions 2018 2019-2020 2021-2022 thereafter total borrowings1 $ 23870 $ 45963 $ 36649 $ 84581 $ 191063 other secured financings1 4992 3142 153 398 8685 contractual interest payments2 4903 7930 5680 17031 35544 time deposits3 12300 2481 108 129 15018 operating leases 2014premises4 664 1183 938 2639 5424 purchase obligations 598 607 217 197 1619 total5 $ 47327 $ 61306 $ 43745 $ 104975 $ 257353 1 . for further information on borrowings and other secured financings , see note 11 to the financial statements . amounts presented for borrowings and other secured financings are financings with original maturities greater than one year . 2 . amounts represent estimated future contractual interest payments related to unse- cured borrowings with original maturities greater than one year based on applicable interest rates at december 31 , 2017 . 3 . amounts represent contractual principal and interest payments related to time deposits primarily held at our u.s . bank subsidiaries . 4 . for further information on operating leases covering premises and equipment , see note 12 to the financial statements . 5 . amounts exclude unrecognized tax benefits , as the timing and amount of future cash payments are not determinable at this time ( see note 20 to the financial state- ments for further information ) . purchase obligations for goods and services include payments for , among other things , consulting , outsourcing , computer and telecommunications maintenance agreements , and certain transmission , transportation and storage contracts related to the commodities business . purchase obligations at december 31 , 2017 reflect the minimum contractual obliga- tion under legally enforceable contracts with contract terms that are both fixed and determinable . these amounts exclude obligations for goods and services that already have been incurred and are reflected in the balance sheets . december 2017 form 10-k 70 .
|$ in millions|at december 31 2017 payments due in : 2018|at december 31 2017 payments due in : 2019-2020|at december 31 2017 payments due in : 2021-2022|at december 31 2017 payments due in : thereafter|at december 31 2017 payments due in : total|
|borrowings1|$ 23870|$ 45963|$ 36649|$ 84581|$ 191063|
|other securedfinancings1|4992|3142|153|398|8685|
|contractual interest payments2|4903|7930|5680|17031|35544|
|timedeposits3|12300|2481|108|129|15018|
|operating leases 2014premises4|664|1183|938|2639|5424|
|purchase obligations|598|607|217|197|1619|
|total5|$ 47327|$ 61306|$ 43745|$ 104975|$ 257353|
management 2019s discussion and analysis expected replacement of london interbank offered rate central banks around the world , including the federal reserve , have commissioned working groups of market participants and others with the goal of finding suitable replacements for libor based on observable market transac- tions . it is expected that a transition away from the wide- spread use of libor to alternative rates will occur over the course of the next few years . effects of inflation and changes in interest and foreign exchange rates to the extent that an increased inflation outlook results in rising interest rates or has negative impacts on the valuation of financial instruments that exceed the impact on the value of our liabilities , it may adversely affect our financial position and profitability . rising inflation may also result in increases in our non-interest expenses that may not be readily recover- able in higher prices of services offered . other changes in the interest rate environment and related volatility , as well as expectations about the level of future interest rates , could also impact our results of operations . a significant portion of our business is conducted in curren- cies other than the u.s . dollar , and changes in foreign exchange rates relative to the u.s . dollar , therefore , can affect the value of non-u.s . dollar net assets , revenues and expenses . potential exposures as a result of these fluctuations in currencies are closely monitored , and , where cost-justified , strategies are adopted that are designed to reduce the impact of these fluctuations on our financial performance . these strategies may include the financing of non-u.s . dollar assets with direct or swap-based borrowings in the same currency and the use of currency forward contracts or the spot market in various hedging transactions related to net assets , revenues , expenses or cash flows . for information about cumulative foreign currency translation adjustments , see note 15 to the financial statements . off-balance sheet arrangements and contractual obligations off-balance sheet arrangements we enter into various off-balance sheet arrangements , including through unconsolidated spes and lending-related financial instruments ( e.g. , guarantees and commitments ) , primarily in connection with the institutional securities and investment management business segments . we utilize spes primarily in connection with securitization activities . for information on our securitization activities , see note 13 to the financial statements . for information on our commitments , obligations under certain guarantee arrangements and indemnities , see note 12 to the financial statements . for further information on our lending commitments , see 201cquantitative and qualitative disclosures about market risk 2014risk management 2014credit risk 2014lending activities . 201d contractual obligations in the normal course of business , we enter into various contractual obligations that may require future cash payments . contractual obligations include certain borrow- ings , other secured financings , contractual interest payments , contractual payments on time deposits , operating leases and purchase obligations . contractual obligations at december 31 , 2017 payments due in : $ in millions 2018 2019-2020 2021-2022 thereafter total borrowings1 $ 23870 $ 45963 $ 36649 $ 84581 $ 191063 other secured financings1 4992 3142 153 398 8685 contractual interest payments2 4903 7930 5680 17031 35544 time deposits3 12300 2481 108 129 15018 operating leases 2014premises4 664 1183 938 2639 5424 purchase obligations 598 607 217 197 1619 total5 $ 47327 $ 61306 $ 43745 $ 104975 $ 257353 1 . for further information on borrowings and other secured financings , see note 11 to the financial statements . amounts presented for borrowings and other secured financings are financings with original maturities greater than one year . 2 . amounts represent estimated future contractual interest payments related to unse- cured borrowings with original maturities greater than one year based on applicable interest rates at december 31 , 2017 . 3 . amounts represent contractual principal and interest payments related to time deposits primarily held at our u.s . bank subsidiaries . 4 . for further information on operating leases covering premises and equipment , see note 12 to the financial statements . 5 . amounts exclude unrecognized tax benefits , as the timing and amount of future cash payments are not determinable at this time ( see note 20 to the financial state- ments for further information ) . purchase obligations for goods and services include payments for , among other things , consulting , outsourcing , computer and telecommunications maintenance agreements , and certain transmission , transportation and storage contracts related to the commodities business . purchase obligations at december 31 , 2017 reflect the minimum contractual obliga- tion under legally enforceable contracts with contract terms that are both fixed and determinable . these amounts exclude obligations for goods and services that already have been incurred and are reflected in the balance sheets . december 2017 form 10-k 70 .
Question: what percentage of total payments due in 2018 are time deposits?
Answer: | 0.25989 |
FINQA4307 | Please answer the given financial question based on the context.
Context: measurement point december 31 booking holdings nasdaq composite index s&p 500 rdg internet composite .
|measurement pointdecember 31|booking holdings inc .|nasdaqcomposite index|s&p 500index|rdg internetcomposite|
|2012|100.00|100.00|100.00|100.00|
|2013|187.37|141.63|132.39|163.02|
|2014|183.79|162.09|150.51|158.81|
|2015|205.51|173.33|152.59|224.05|
|2016|236.31|187.19|170.84|235.33|
|2017|280.10|242.29|208.14|338.52|
sales of unregistered securities between october 1 , 2017 and december 31 , 2017 , we issued 103343 shares of our common stock in connection with the conversion of $ 196.1 million principal amount of our 1.0% ( 1.0 % ) convertible senior notes due 2018 . the conversions were effected in accordance with the indenture , which provides that the principal amount of converted notes be paid in cash and the conversion premium be paid in cash and/or shares of common stock at our election . in each case , we chose to pay the conversion premium in shares of common stock ( fractional shares are paid in cash ) . the issuances of the shares were not registered under the securities act of 1933 , as amended ( the "act" ) pursuant to section 3 ( a ) ( 9 ) of the act. .
Question: at the measurement point december 312016 what was the ratio of the booking holdings inc . to the nasdaqcomposite index
Answer: | 1.26241 |
FINQA4308 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements loss on retirement of long-term obligations 2014loss on retirement of long-term obligations primarily includes cash paid to retire debt in excess of its carrying value , cash paid to holders of convertible notes in connection with note conversions and non-cash charges related to the write-off of deferred financing fees . loss on retirement of long-term obligations also includes gains from repurchasing or refinancing certain of the company 2019s debt obligations . earnings per common share 2014basic and diluted 2014basic income from continuing operations per common share for the years ended december 31 , 2012 , 2011 and 2010 represents income from continuing operations attributable to american tower corporation divided by the weighted average number of common shares outstanding during the period . diluted income from continuing operations per common share for the years ended december 31 , 2012 , 2011 and 2010 represents income from continuing operations attributable to american tower corporation divided by the weighted average number of common shares outstanding during the period and any dilutive common share equivalents , including unvested restricted stock , shares issuable upon exercise of stock options and warrants as determined under the treasury stock method and upon conversion of the company 2019s convertible notes , as determined under the if-converted method . retirement plan 2014the company has a 401 ( k ) plan covering substantially all employees who meet certain age and employment requirements . the company 2019s matching contribution for the years ended december 31 , 2012 , 2011 and 2010 is 50% ( 50 % ) up to a maximum 6% ( 6 % ) of a participant 2019s contributions . for the years ended december 31 , 2012 , 2011 and 2010 , the company contributed approximately $ 4.4 million , $ 2.9 million and $ 1.9 million to the plan , respectively . 2 . prepaid and other current assets prepaid and other current assets consist of the following as of december 31 , ( in thousands ) : .
||2012|2011 ( 1 )|
|prepaid income tax|$ 57665|$ 31384|
|prepaid operating ground leases|56916|49585|
|value added tax and other consumption tax receivables|22443|81276|
|prepaid assets|19037|28031|
|other miscellaneous current assets|66790|59997|
|balance as of december 31,|$ 222851|$ 250273|
( 1 ) december 31 , 2011 balances have been revised to reflect purchase accounting measurement period adjustments. .
Question: what was the average company contribution to the retirement plan from 2010 to 2012
Answer: | 1.13908 |
FINQA4309 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis 122 jpmorgan chase & co./2015 annual report wholesale credit portfolio the firm 2019s wholesale businesses are exposed to credit risk through underwriting , lending , market-making , and hedging activities with and for clients and counterparties , as well as through various operating services such as cash management and clearing activities . a portion of the loans originated or acquired by the firm 2019s wholesale businesses is generally retained on the balance sheet . the firm distributes a significant percentage of the loans it originates into the market as part of its syndicated loan business and to manage portfolio concentrations and credit risk . the wholesale credit portfolio , excluding oil & gas , continued to be generally stable throughout 2015 , characterized by low levels of criticized exposure , nonaccrual loans and charge-offs . growth in loans retained was driven by increased client activity , notably in commercial real estate . discipline in underwriting across all areas of lending continues to remain a key point of focus . the wholesale portfolio is actively managed , in part by conducting ongoing , in-depth reviews of client credit quality and transaction structure , inclusive of collateral where applicable ; and of industry , product and client concentrations . wholesale credit portfolio december 31 , credit exposure nonperforming ( c ) .
|december 31 , ( in millions )|december 31 , 2015|december 31 , 2014|2015|2014|
|loans retained|$ 357050|$ 324502|$ 988|$ 599|
|loans held-for-sale|1104|3801|3|4|
|loans at fair value|2861|2611|25|21|
|loans 2013 reported|361015|330914|1016|624|
|derivative receivables|59677|78975|204|275|
|receivables from customers and other ( a )|13372|28972|2014|2014|
|total wholesale credit-related assets|434064|438861|1220|899|
|lending-related commitments|366399|366881|193|103|
|total wholesale credit exposure|$ 800463|$ 805742|$ 1413|$ 1002|
|credit derivatives usedin credit portfolio management activities ( b )|$ -20681 ( 20681 )|$ -26703 ( 26703 )|$ -9 ( 9 )|$ 2014|
|liquid securities and other cash collateral held against derivatives|-16580 ( 16580 )|-19604 ( 19604 )|na|na|
receivables from customers and other ( a ) 13372 28972 2014 2014 total wholesale credit- related assets 434064 438861 1220 899 lending-related commitments 366399 366881 193 103 total wholesale credit exposure $ 800463 $ 805742 $ 1413 $ 1002 credit derivatives used in credit portfolio management activities ( b ) $ ( 20681 ) $ ( 26703 ) $ ( 9 ) $ 2014 liquid securities and other cash collateral held against derivatives ( 16580 ) ( 19604 ) na na ( a ) receivables from customers and other include $ 13.3 billion and $ 28.8 billion of margin loans at december 31 , 2015 and 2014 , respectively , to prime and retail brokerage customers ; these are classified in accrued interest and accounts receivable on the consolidated balance sheets . ( b ) represents the net notional amount of protection purchased and sold through credit derivatives used to manage both performing and nonperforming wholesale credit exposures ; these derivatives do not qualify for hedge accounting under u.s . gaap . for additional information , see credit derivatives on page 129 , and note 6 . ( c ) excludes assets acquired in loan satisfactions. .
Question: what was the percentage change in loans retained from 2014 to 2015?
Answer: | 0.1003 |
FINQA4310 | Please answer the given financial question based on the context.
Context: page 59 of 94 notes to consolidated financial statements ball corporation and subsidiaries 13 . debt and interest costs ( continued ) long-term debt obligations outstanding at december 31 , 2007 , have maturities of $ 127.1 million , $ 160 million , $ 388.4 million , $ 625.1 million and $ 550.3 million for the years ending december 31 , 2008 through 2012 , respectively , and $ 456.1 million thereafter . ball provides letters of credit in the ordinary course of business to secure liabilities recorded in connection with industrial development revenue bonds and certain self-insurance arrangements . letters of credit outstanding at december 31 , 2007 and 2006 , were $ 41 million and $ 52.4 million , respectively . the notes payable and senior credit facilities are guaranteed on a full , unconditional and joint and several basis by certain of the company 2019s domestic wholly owned subsidiaries . certain foreign denominated tranches of the senior credit facilities are similarly guaranteed by certain of the company 2019s wholly owned foreign subsidiaries . note 22 contains further details as well as condensed , consolidating financial information for the company , segregating the guarantor subsidiaries and non-guarantor subsidiaries . the company was not in default of any loan agreement at december 31 , 2007 , and has met all debt payment obligations . the u.s . note agreements , bank credit agreement and industrial development revenue bond agreements contain certain restrictions relating to dividend payments , share repurchases , investments , financial ratios , guarantees and the incurrence of additional indebtedness . on march 27 , 2006 , ball expanded its senior secured credit facilities with the addition of a $ 500 million term d loan facility due in installments through october 2011 . also on march 27 , 2006 , ball issued at a price of 99.799 percent $ 450 million of 6.625% ( 6.625 % ) senior notes ( effective yield to maturity of 6.65 percent ) due in march 2018 . the proceeds from these financings were used to refinance existing u.s . can debt with ball corporation debt at lower interest rates , acquire certain north american plastic container net assets from alcan and reduce seasonal working capital debt . ( see note 3 for further details of the acquisitions. ) on october 13 , 2005 , ball refinanced its senior secured credit facilities to extend debt maturities at lower interest rate spreads and provide the company with additional borrowing capacity for future growth . during the third and fourth quarters of 2005 , ball redeemed its 7.75% ( 7.75 % ) senior notes due in august 2006 . the refinancing and senior note redemptions resulted in a debt refinancing charge of $ 19.3 million ( $ 12.3 million after tax ) for the related call premium and unamortized debt issuance costs . a summary of total interest cost paid and accrued follows: .
|( $ in millions )|2007|2006|2005|
|interest costs before refinancing costs|$ 155.8|$ 142.5|$ 102.4|
|debt refinancing costs|2013|2013|19.3|
|total interest costs|155.8|142.5|121.7|
|amounts capitalized|-6.4 ( 6.4 )|-8.1 ( 8.1 )|-5.3 ( 5.3 )|
|interest expense|$ 149.4|$ 134.4|$ 116.4|
|interest paid during the year ( a )|$ 153.9|$ 125.4|$ 138.5|
( a ) includes $ 6.6 million paid in 2005 in connection with the redemption of the company 2019s senior and senior subordinated notes. .
Question: what is the average balance of letters of credit outstanding as of december 31 , 2007 and 2006 , in millions?
Answer: | 46.7 |
FINQA4311 | Please answer the given financial question based on the context.
Context: 26 | 2009 annual report in fiscal 2008 , revenues in the credit union systems and services business segment increased 14% ( 14 % ) from fiscal 2007 . all revenue components within the segment experienced growth during fiscal 2008 . license revenue generated the largest dollar growth in revenue as episys ae , our flagship core processing system aimed at larger credit unions , experienced strong sales throughout the year . support and service revenue , which is the largest component of total revenues for the credit union segment , experienced 34 percent growth in eft support and 10 percent growth in in-house support . gross profit in this business segment increased $ 9344 in fiscal 2008 compared to fiscal 2007 , due primarily to the increase in license revenue , which carries the highest margins . liquidity and capital resources we have historically generated positive cash flow from operations and have generally used funds generated from operations and short-term borrowings on our revolving credit facility to meet capital requirements . we expect this trend to continue in the future . the company 2019s cash and cash equivalents increased to $ 118251 at june 30 , 2009 from $ 65565 at june 30 , 2008 . the following table summarizes net cash from operating activities in the statement of cash flows : 2009 2008 2007 .
|2008|year ended june 30 2009 2008|year ended june 30 2009 2008|year ended june 30 2009|
|net income|$ 103102|$ 104222|$ 104681|
|non-cash expenses|74397|70420|56348|
|change in receivables|21214|-2913 ( 2913 )|-28853 ( 28853 )|
|change in deferred revenue|21943|5100|24576|
|change in other assets and liabilities|-14068 ( 14068 )|4172|17495|
|net cash from operating activities|$ 206588|$ 181001|$ 174247|
year ended june 30 , cash provided by operations increased $ 25587 to $ 206588 for the fiscal year ended june 30 , 2009 as compared to $ 181001 for the fiscal year ended june 30 , 2008 . this increase is primarily attributable to a decrease in receivables compared to the same period a year ago of $ 21214 . this decrease is largely the result of fiscal 2010 annual software maintenance billings being provided to customers earlier than in the prior year , which allowed more cash to be collected before the end of the fiscal year than in previous years . further , we collected more cash overall related to revenues that will be recognized in subsequent periods in the current year than in fiscal 2008 . cash used in investing activities for the fiscal year ended june 2009 was $ 59227 and includes $ 3027 in contingent consideration paid on prior years 2019 acquisitions . cash used in investing activities for the fiscal year ended june 2008 was $ 102148 and includes payments for acquisitions of $ 48109 , plus $ 1215 in contingent consideration paid on prior years 2019 acquisitions . capital expenditures for fiscal 2009 were $ 31562 compared to $ 31105 for fiscal 2008 . cash used for software development in fiscal 2009 was $ 24684 compared to $ 23736 during the prior year . net cash used in financing activities for the current fiscal year was $ 94675 and includes the repurchase of 3106 shares of our common stock for $ 58405 , the payment of dividends of $ 26903 and $ 13489 net repayment on our revolving credit facilities . cash used in financing activities was partially offset by proceeds of $ 3773 from the exercise of stock options and the sale of common stock ( through the employee stock purchase plan ) and $ 348 excess tax benefits from stock option exercises . during fiscal 2008 , net cash used in financing activities for the fiscal year was $ 101905 and includes the repurchase of 4200 shares of our common stock for $ 100996 , the payment of dividends of $ 24683 and $ 429 net repayment on our revolving credit facilities . cash used in financing activities was partially offset by proceeds of $ 20394 from the exercise of stock options and the sale of common stock and $ 3809 excess tax benefits from stock option exercises . beginning during fiscal 2008 , us financial markets and many of the largest us financial institutions have been shaken by negative developments in the home mortgage industry and the mortgage markets , and particularly the markets for subprime mortgage-backed securities . since that time , these and other such developments have resulted in a broad , global economic downturn . while we , as is the case with most companies , have experienced the effects of this downturn , we have not experienced any significant issues with our current collection efforts , and we believe that any future impact to our liquidity will be minimized by cash generated by recurring sources of revenue and due to our access to available lines of credit. .
Question: for the year ended june 30 , cash provided by operations increased by what percent compared to the fiscal year ended june 30 , 2008?
Answer: | 0.14136 |
FINQA4312 | Please answer the given financial question based on the context.
Context: liquidity and capital resources the following table summarizes liquidity data as of the dates indicated ( in thousands ) : december 31 , december 31 .
||december 31 2016|december 31 2015|
|cash and equivalents|$ 227400|$ 87397|
|total debt ( 1 )|3365687|1599695|
|current maturities ( 2 )|68414|57494|
|capacity under credit facilities ( 3 )|2550000|1947000|
|availability under credit facilities ( 3 )|1019112|1337653|
|total liquidity ( cash and equivalents plus availability on credit facilities )|1246512|1425050|
total debt ( 1 ) 3365687 1599695 current maturities ( 2 ) 68414 57494 capacity under credit facilities ( 3 ) 2550000 1947000 availability under credit facilities ( 3 ) 1019112 1337653 total liquidity ( cash and equivalents plus availability on credit facilities ) 1246512 1425050 ( 1 ) debt amounts reflect the gross values to be repaid ( excluding debt issuance costs of $ 23.9 million and $ 15.0 million as of december 31 , 2016 and 2015 , respectively ) . ( 2 ) debt amounts reflect the gross values to be repaid ( excluding debt issuance costs of $ 2.3 million and $ 1.5 million as of december 31 , 2016 and 2015 , respectively ) . ( 3 ) includes our revolving credit facilities , our receivables securitization facility , and letters of credit . we assess our liquidity in terms of our ability to fund our operations and provide for expansion through both internal development and acquisitions . our primary sources of liquidity are cash flows from operations and our credit facilities . we utilize our cash flows from operations to fund working capital and capital expenditures , with the excess amounts going towards funding acquisitions or paying down outstanding debt . as we have pursued acquisitions as part of our growth strategy , our cash flows from operations have not always been sufficient to cover our investing activities . to fund our acquisitions , we have accessed various forms of debt financing , including revolving credit facilities , senior notes , and a receivables securitization facility . as of december 31 , 2016 , we had debt outstanding and additional available sources of financing , as follows : 2022 senior secured credit facilities maturing in january 2021 , composed of term loans totaling $ 750 million ( $ 732.7 million outstanding at december 31 , 2016 ) and $ 2.45 billion in revolving credit ( $ 1.36 billion outstanding at december 31 , 2016 ) , bearing interest at variable rates ( although a portion of this debt is hedged through interest rate swap contracts ) reduced by $ 72.7 million of amounts outstanding under letters of credit 2022 senior notes totaling $ 600 million , maturing in may 2023 and bearing interest at a 4.75% ( 4.75 % ) fixed rate 2022 euro notes totaling $ 526 million ( 20ac500 million ) , maturing in april 2024 and bearing interest at a 3.875% ( 3.875 % ) fixed rate 2022 receivables securitization facility with availability up to $ 100 million ( $ 100 million outstanding as of december 31 , 2016 ) , maturing in november 2019 and bearing interest at variable commercial paper from time to time , we may undertake financing transactions to increase our available liquidity , such as our january 2016 amendment to our senior secured credit facilities , the issuance of 20ac500 million of euro notes in april 2016 , and the november 2016 amendment to our receivables securitization facility . the rhiag acquisition was the catalyst for the april issuance of 20ac500 million of euro notes . given that rhiag is a long term asset , we considered alternative financing options and decided to fund a portion of this acquisition through the issuance of long term notes . additionally , the interest rates on rhiag's acquired debt ranged between 6.45% ( 6.45 % ) and 7.25% ( 7.25 % ) . with the issuance of the 20ac500 million of senior notes at a rate of 3.875% ( 3.875 % ) , we were able to replace rhiag's borrowings with long term financing at favorable rates . this refinancing also provides financial flexibility to execute our long-term growth strategy by freeing up availability under our revolver . if we see an attractive acquisition opportunity , we have the ability to use our revolver to move quickly and have certainty of funding . as of december 31 , 2016 , we had approximately $ 1.02 billion available under our credit facilities . combined with approximately $ 227.4 million of cash and equivalents at december 31 , 2016 , we had approximately $ 1.25 billion in available liquidity , a decrease of $ 178.5 million from our available liquidity as of december 31 , 2015 . we expect to use the proceeds from the sale of pgw's glass manufacturing business to pay down borrowings under our revolving credit facilities , which would increase our available liquidity by approximately $ 310 million when the transaction closes. .
Question: what was the change in total debt from 2015 to 2016?
Answer: | 1765992.0 |
FINQA4313 | Please answer the given financial question based on the context.
Context: table of contents the following discussion of nonoperating income and expense excludes the results of us airways in order to provide a more meaningful year-over-year comparison . interest expense , net of capitalized interest decreased $ 129 million in 2014 from 2013 primarily due to a $ 63 million decrease in special charges recognized year-over-year as further described below , as well as refinancing activities that resulted in $ 65 million less interest expense recognized in 2014 . ( 1 ) in 2014 , american recognized $ 29 million of special charges relating to non-cash interest accretion on bankruptcy settlement obligations . in 2013 , american recognized $ 48 million of special charges relating to post-petition interest expense on unsecured obligations pursuant to the plan and penalty interest related to american 2019s 10.5% ( 10.5 % ) secured notes and 7.50% ( 7.50 % ) senior secured notes . in addition , in 2013 american recorded special charges of $ 44 million for debt extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness , including cash interest charges and non-cash write offs of unamortized debt issuance costs . ( 2 ) as a result of the 2013 refinancing activities and the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes in 2014 , american incurred $ 65 million less interest expense in 2014 as compared to 2013 . other nonoperating expense , net in 2014 consisted of $ 92 million of net foreign currency losses , including a $ 43 million special charge for venezuelan foreign currency losses , and $ 48 million of early debt extinguishment costs related to the prepayment of american 2019s 7.50% ( 7.50 % ) senior secured notes and other indebtedness . the foreign currency losses were driven primarily by the strengthening of the u.s . dollar relative to other currencies during 2014 , principally in the latin american market , including a 48% ( 48 % ) decrease in the value of the venezuelan bolivar and a 14% ( 14 % ) decrease in the value of the brazilian real . other nonoperating expense , net in 2013 consisted principally of net foreign currency losses of $ 55 million and early debt extinguishment charges of $ 29 million . reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases . the following table summarizes the components included in reorganization items , net on american 2019s consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : .
||2013|
|labor-related deemed claim ( 1 )|$ 1733|
|aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )|320|
|fair value of conversion discount ( 4 )|218|
|professional fees|199|
|other|170|
|total reorganization items net|$ 2640|
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees . each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes . the total value of this deemed claim was approximately $ 1.7 billion . ( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue .
Question: what was the ratio of the labor-related deemed claim to professional services in 2013
Answer: | 8.70854 |
FINQA4314 | Please answer the given financial question based on the context.
Context: bhge 2018 form 10-k | 39 outstanding under the commercial paper program . the maximum combined borrowing at any time under both the 2017 credit agreement and the commercial paper program is $ 3 billion . if market conditions were to change and our revenue was reduced significantly or operating costs were to increase , our cash flows and liquidity could be reduced . additionally , it could cause the rating agencies to lower our credit rating . there are no ratings triggers that would accelerate the maturity of any borrowings under our committed credit facility . however , a downgrade in our credit ratings could increase the cost of borrowings under the credit facility and could also limit or preclude our ability to issue commercial paper . should this occur , we could seek alternative sources of funding , including borrowing under the credit facility . during the year ended december 31 , 2018 , we used cash to fund a variety of activities including certain working capital needs and restructuring costs , capital expenditures , the repayment of debt , payment of dividends , distributions to ge and share repurchases . we believe that cash on hand , cash flows generated from operations and the available credit facility will provide sufficient liquidity to manage our global cash needs . cash flows cash flows provided by ( used in ) each type of activity were as follows for the years ended december 31: .
|( in millions )|2018|2017|2016|
|operating activities|$ 1762|$ -799 ( 799 )|$ 262|
|investing activities|-578 ( 578 )|-4123 ( 4123 )|-472 ( 472 )|
|financing activities|-4363 ( 4363 )|10919|-102 ( 102 )|
operating activities our largest source of operating cash is payments from customers , of which the largest component is collecting cash related to product or services sales including advance payments or progress collections for work to be performed . the primary use of operating cash is to pay our suppliers , employees , tax authorities and others for a wide range of material and services . cash flows from operating activities generated cash of $ 1762 million and used cash of $ 799 million for the years ended december 31 , 2018 and 2017 , respectively . cash flows from operating activities increased $ 2561 million in 2018 primarily driven by better operating performance . these cash inflows were supported by strong working capital cash flows , especially in the fourth quarter of 2018 , including approximately $ 300 million for a progress collection payment from a customer . included in our cash flows from operating activities for 2018 and 2017 are payments of $ 473 million and $ 612 million , respectively , made primarily for employee severance as a result of our restructuring activities and merger and related costs . cash flows from operating activities used $ 799 million and generated $ 262 million for the years ended december 31 , 2017 and 2016 , respectively . cash flows from operating activities decreased $ 1061 million in 2017 primarily driven by a $ 1201 million negative impact from ending our receivables monetization program in the fourth quarter , and restructuring related payments throughout the year . these cash outflows were partially offset by strong working capital cash flows , especially in the fourth quarter of 2017 . included in our cash flows from operating activities for 2017 and 2016 are payments of $ 612 million and $ 177 million , respectively , made for employee severance as a result of our restructuring activities and merger and related costs . investing activities cash flows from investing activities used cash of $ 578 million , $ 4123 million and $ 472 million for the years ended december 31 , 2018 , 2017 and 2016 , respectively . our principal recurring investing activity is the funding of capital expenditures to ensure that we have the appropriate levels and types of machinery and equipment in place to generate revenue from operations . expenditures for capital assets totaled $ 995 million , $ 665 million and $ 424 million for 2018 , 2017 and 2016 , respectively , partially offset by cash flows from the sale of property , plant and equipment of $ 458 million , $ 172 million and $ 20 million in 2018 , 2017 and 2016 , respectively . proceeds from the disposal of assets related primarily .
Question: what are the expenditures for capital assets in 2018 as a percentage of cash from operating activities in 2018?
Answer: | 0.5647 |
FINQA4315 | Please answer the given financial question based on the context.
Context: marathon oil corporation notes to consolidated financial statements operating lease rental expense was : ( in millions ) 2008 2007 2006 minimum rental ( a ) $ 245 $ 209 $ 172 .
|( in millions )|2008|2007|2006|
|minimum rental ( a )|$ 245|$ 209|$ 172|
|contingent rental|22|33|28|
|sublease rentals|2013|2013|-7 ( 7 )|
|net rental expense|$ 267|$ 242|$ 193|
( a ) excludes $ 5 million , $ 8 million and $ 9 million paid by united states steel in 2008 , 2007 and 2006 on assumed leases . 27 . contingencies and commitments we are the subject of , or party to , a number of pending or threatened legal actions , contingencies and commitments involving a variety of matters , including laws and regulations relating to the environment . certain of these matters are discussed below . the ultimate resolution of these contingencies could , individually or in the aggregate , be material to our consolidated financial statements . however , management believes that we will remain a viable and competitive enterprise even though it is possible that these contingencies could be resolved unfavorably . environmental matters 2013 we are subject to federal , state , local and foreign laws and regulations relating to the environment . these laws generally provide for control of pollutants released into the environment and require responsible parties to undertake remediation of hazardous waste disposal sites . penalties may be imposed for noncompliance . at december 31 , 2008 and 2007 , accrued liabilities for remediation totaled $ 111 million and $ 108 million . it is not presently possible to estimate the ultimate amount of all remediation costs that might be incurred or the penalties that may be imposed . receivables for recoverable costs from certain states , under programs to assist companies in clean-up efforts related to underground storage tanks at retail marketing outlets , were $ 60 and $ 66 million at december 31 , 2008 and 2007 . we are a defendant , along with other refining companies , in 20 cases arising in three states alleging damages for methyl tertiary-butyl ether ( 201cmtbe 201d ) contamination . we have also received seven toxic substances control act notice letters involving potential claims in two states . such notice letters are often followed by litigation . like the cases that were settled in 2008 , the remaining mtbe cases are consolidated in a multidistrict litigation in the southern district of new york for pretrial proceedings . nineteen of the remaining cases allege damages to water supply wells , similar to the damages claimed in the settled cases . in the other remaining case , the state of new jersey is seeking natural resources damages allegedly resulting from contamination of groundwater by mtbe . this is the only mtbe contamination case in which we are a defendant and natural resources damages are sought . we are vigorously defending these cases . we , along with a number of other defendants , have engaged in settlement discussions related to the majority of the cases in which we are a defendant . we do not expect our share of liability , if any , for the remaining cases to significantly impact our consolidated results of operations , financial position or cash flows . a lawsuit filed in the united states district court for the southern district of west virginia alleges that our catlettsburg , kentucky , refinery distributed contaminated gasoline to wholesalers and retailers for a period prior to august , 2003 , causing permanent damage to storage tanks , dispensers and related equipment , resulting in lost profits , business disruption and personal and real property damages . following the incident , we conducted remediation operations at affected facilities , and we deny that any permanent damages resulted from the incident . class action certification was granted in august 2007 . we have entered into a tentative settlement agreement in this case . notice of the proposed settlement has been sent to the class members . approval by the court after a fairness hearing is required before the settlement can be finalized . the fairness hearing is scheduled in the first quarter of 2009 . the proposed settlement will not significantly impact our consolidated results of operations , financial position or cash flows . guarantees 2013 we have provided certain guarantees , direct and indirect , of the indebtedness of other companies . under the terms of most of these guarantee arrangements , we would be required to perform should the guaranteed party fail to fulfill its obligations under the specified arrangements . in addition to these financial guarantees , we also have various performance guarantees related to specific agreements. .
Question: what was the change in millions for receivables for recoverable costs from certain states , under programs to assist companies in clean-up efforts related to underground storage tanks at retail marketing outlets , between december 31 , 2008 and 2007?
Answer: | -6.0 |
FINQA4316 | Please answer the given financial question based on the context.
Context: average age ( yrs. ) highway revenue equipment owned leased total .
|highway revenue equipment|owned|leased|total|averageage ( yrs. )|
|containers|26629|28306|54935|7.1|
|chassis|15182|25951|41133|8.9|
|total highway revenue equipment|41811|54257|96068|n/a|
capital expenditures our rail network requires significant annual capital investments for replacement , improvement , and expansion . these investments enhance safety , support the transportation needs of our customers , and improve our operational efficiency . additionally , we add new locomotives and freight cars to our fleet to replace older , less efficient equipment , to support growth and customer demand , and to reduce our impact on the environment through the acquisition of more fuel-efficient and low-emission locomotives . 2014 capital program 2013 during 2014 , our capital program totaled $ 4.1 billion . ( see the cash capital expenditures table in management 2019s discussion and analysis of financial condition and results of operations 2013 liquidity and capital resources 2013 financial condition , item 7. ) 2015 capital plan 2013 in 2015 , we expect our capital plan to be approximately $ 4.3 billion , which will include expenditures for ptc of approximately $ 450 million and may include non-cash investments . we may revise our 2015 capital plan if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments . ( see discussion of our 2015 capital plan in management 2019s discussion and analysis of financial condition and results of operations 2013 2015 outlook , item 7. ) equipment encumbrances 2013 equipment with a carrying value of approximately $ 2.8 billion and $ 2.9 billion at december 31 , 2014 , and 2013 , respectively served as collateral for capital leases and other types of equipment obligations in accordance with the secured financing arrangements utilized to acquire or refinance such railroad equipment . as a result of the merger of missouri pacific railroad company ( mprr ) with and into uprr on january 1 , 1997 , and pursuant to the underlying indentures for the mprr mortgage bonds , uprr must maintain the same value of assets after the merger in order to comply with the security requirements of the mortgage bonds . as of the merger date , the value of the mprr assets that secured the mortgage bonds was approximately $ 6.0 billion . in accordance with the terms of the indentures , this collateral value must be maintained during the entire term of the mortgage bonds irrespective of the outstanding balance of such bonds . environmental matters 2013 certain of our properties are subject to federal , state , and local laws and regulations governing the protection of the environment . ( see discussion of environmental issues in business 2013 governmental and environmental regulation , item 1 , and management 2019s discussion and analysis of financial condition and results of operations 2013 critical accounting policies 2013 environmental , item 7. ) item 3 . legal proceedings from time to time , we are involved in legal proceedings , claims , and litigation that occur in connection with our business . we routinely assess our liabilities and contingencies in connection with these matters based upon the latest available information and , when necessary , we seek input from our third-party advisors when making these assessments . consistent with sec rules and requirements , we describe below material pending legal proceedings ( other than ordinary routine litigation incidental to our business ) , material proceedings known to be contemplated by governmental authorities , other proceedings arising under federal , state , or local environmental laws and regulations ( including governmental proceedings involving potential fines , penalties , or other monetary sanctions in excess of $ 100000 ) , and such other pending matters that we may determine to be appropriate. .
Question: what percentage of containers are owned?
Answer: | 0.48474 |
FINQA4317 | Please answer the given financial question based on the context.
Context: devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) debt maturities as of december 31 , 2013 , excluding premiums and discounts , are as follows ( in millions ) : .
|2014|$ 4067|
|2015|2014|
|2016|500|
|2017|750|
|2018|125|
|2019 and thereafter|6600|
|total|$ 12042|
credit lines devon has a $ 3.0 billion syndicated , unsecured revolving line of credit ( the 201csenior credit facility 201d ) that matures on october 24 , 2018 . however , prior to the maturity date , devon has the option to extend the maturity for up to one additional one-year period , subject to the approval of the lenders . amounts borrowed under the senior credit facility may , at the election of devon , bear interest at various fixed rate options for periods of up to twelve months . such rates are generally less than the prime rate . however , devon may elect to borrow at the prime rate . the senior credit facility currently provides for an annual facility fee of $ 3.8 million that is payable quarterly in arrears . as of december 31 , 2013 , there were no borrowings under the senior credit facility . the senior credit facility contains only one material financial covenant . this covenant requires devon 2019s ratio of total funded debt to total capitalization , as defined in the credit agreement , to be no greater than 65 percent . the credit agreement contains definitions of total funded debt and total capitalization that include adjustments to the respective amounts reported in the accompanying financial statements . also , total capitalization is adjusted to add back noncash financial write-downs such as full cost ceiling impairments or goodwill impairments . as of december 31 , 2013 , devon was in compliance with this covenant with a debt-to- capitalization ratio of 25.7 percent . commercial paper devon has access to $ 3.0 billion of short-term credit under its commercial paper program . commercial paper debt generally has a maturity of between 1 and 90 days , although it can have a maturity of up to 365 days , and bears interest at rates agreed to at the time of the borrowing . the interest rate is generally based on a standard index such as the federal funds rate , libor , or the money market rate as found in the commercial paper market . as of december 31 , 2013 , devon 2019s weighted average borrowing rate on its commercial paper borrowings was 0.30 percent . other debentures and notes following are descriptions of the various other debentures and notes outstanding at december 31 , 2013 , as listed in the table presented at the beginning of this note . geosouthern debt in december 2013 , in conjunction with the planned geosouthern acquisition , devon issued $ 2.25 billion aggregate principal amount of fixed and floating rate senior notes resulting in cash proceeds of approximately .
Question: what percentage of total debt maturities are from 2016 and 2017?
Answer: | 10.38034 |
FINQA4318 | 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 as part of publicly announced plans or programs ( 1 ) ( 2 ) in november 2013 to the total
Answer: | 0.59749 |
FINQA4319 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis of financial condition and results of operations ( continued ) the npr is generally consistent with the basel committee 2019s lcr . however , it includes certain more stringent requirements , including an accelerated implementation time line and modifications to the definition of high-quality liquid assets and expected outflow assumptions . we continue to analyze the proposed rules and analyze their impact as well as develop strategies for compliance . the principles of the lcr are consistent with our liquidity management framework ; however , the specific calibrations of various elements within the final lcr rule , such as the eligibility of assets as hqla , operational deposit requirements and net outflow requirements could have a material effect on our liquidity , funding and business activities , including the management and composition of our investment securities portfolio and our ability to extend committed contingent credit facilities to our clients . in january 2014 , the basel committee released a revised proposal with respect to the net stable funding ratio , or nsfr , which will establish a one-year liquidity standard representing the proportion of long-term assets funded by long-term stable funding , scheduled for global implementation in 2018 . the revised nsfr has made some favorable changes regarding the treatment of operationally linked deposits and a reduction in the funding required for certain securities . however , we continue to review the specifics of the basel committee's release and will be evaluating the u.s . implementation of this standard to analyze the impact and develop strategies for compliance . u.s . banking regulators have not yet issued a proposal to implement the nsfr . contractual cash obligations and other commitments the following table presents our long-term contractual cash obligations , in total and by period due as of december 31 , 2013 . these obligations were recorded in our consolidated statement of condition as of that date , except for operating leases and the interest portions of long-term debt and capital leases . contractual cash obligations .
|as of december 31 2013 ( in millions )|payments due by period total|payments due by period less than 1year|payments due by period 1-3years|payments due by period 4-5years|payments due by period over 5years|
|long-term debt ( 1 )|$ 10630|$ 1015|$ 2979|$ 2260|$ 4376|
|operating leases|923|208|286|209|220|
|capital lease obligations|1051|99|185|169|598|
|total contractual cash obligations|$ 12604|$ 1322|$ 3450|$ 2638|$ 5194|
( 1 ) long-term debt excludes capital lease obligations ( presented as a separate line item ) and the effect of interest-rate swaps . interest payments were calculated at the stated rate with the exception of floating-rate debt , for which payments were calculated using the indexed rate in effect as of december 31 , 2013 . the table above does not include obligations which will be settled in cash , primarily in less than one year , such as client deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings . additional information about deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings is provided in notes 8 and 9 to the consolidated financial statements included under item 8 of this form 10-k . the table does not include obligations related to derivative instruments because the derivative-related amounts recorded in our consolidated statement of condition as of december 31 , 2013 did not represent the amounts that may ultimately be paid under the contracts upon settlement . additional information about our derivative instruments is provided in note 16 to the consolidated financial statements included under item 8 of this form 10-k . we have obligations under pension and other post-retirement benefit plans , more fully described in note 19 to the consolidated financial statements included under item 8 of this form 10-k , which are not included in the above table . additional information about contractual cash obligations related to long-term debt and operating and capital leases is provided in notes 10 and 20 to the consolidated financial statements included under item 8 of this form 10-k . our consolidated statement of cash flows , also included under item 8 of this form 10-k , provides additional liquidity information . the following table presents our commitments , other than the contractual cash obligations presented above , in total and by duration as of december 31 , 2013 . these commitments were not recorded in our consolidated statement of condition as of that date. .
Question: what portion of the long-term debt is reported under the current liabilities section as of december 31 , 2013?
Answer: | 0.09548 |
FINQA4320 | Please answer the given financial question based on the context.
Context: issuer purchases of equity securities during the three months ended december 31 , 2010 , we repurchased 1460682 shares of our common stock for an aggregate of $ 74.6 million , including commissions and fees , pursuant to our publicly announced stock repurchase program , as follows : 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 approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .
|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|approximate dollar value of shares that may yet be purchasedunder the plans or programs ( in millions )|
|october 2010|722890|$ 50.76|722890|$ 369.1|
|november 2010|400692|$ 51.81|400692|$ 348.3|
|december 2010|337100|$ 50.89|337100|$ 331.1|
|total fourth quarter|1460682|$ 51.08|1460682|$ 331.1|
( 1 ) repurchases made pursuant to the $ 1.5 billion stock repurchase program approved by our board of directors in february 2008 ( the 201cbuyback 201d ) . under this program , our management is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors . to facilitate repurchases , we make purchases pursuant to trading plans under rule 10b5-1 of the exchange act , which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods . this program may be discontinued at any time . subsequent to december 31 , 2010 , we repurchased 1122481 shares of our common stock for an aggregate of $ 58.0 million , including commissions and fees , pursuant to the buyback . as of february 11 , 2011 , we had repurchased a total of 30.9 million shares of our common stock for an aggregate of $ 1.2 billion , including commissions and fees pursuant to the buyback . we expect to continue to manage the pacing of the remaining $ 273.1 million under the buyback in response to general market conditions and other relevant factors. .
Question: what was the percent of the total number of shares purchased in fourth quarter of 2010 in october
Answer: | 0.4949 |
FINQA4321 | Please answer the given financial question based on the context.
Context: edwards lifesciences corporation notes to consolidated financial statements ( continued ) 13 . common stock ( continued ) the company also maintains the nonemployee directors stock incentive compensation program ( the 2018 2018nonemployee directors program 2019 2019 ) . under the nonemployee directors program , each nonemployee director may receive annually up to 20000 stock options or 8000 restricted stock units of the company 2019s common stock , or a combination thereof , provided that in no event may the total value of the combined annual award exceed $ 0.2 million . each option and restricted stock unit award granted in 2011 or prior generally vests in three equal annual installments . each option and restricted stock unit award granted after 2011 generally vests after one year . additionally , each nonemployee director may elect to receive all or a portion of the annual cash retainer to which the director is otherwise entitled through the issuance of stock options or restricted shares . each option received as a deferral of the cash retainer immediately vests on the grant date , and each restricted share award vests after one year . upon a director 2019s initial election to the board , the director receives an initial grant of stock options equal to a fair market value on grant date of $ 0.2 million , not to exceed 10000 shares . these grants vest over three years from the date of grant . under the nonemployee directors program , an aggregate of 1.4 million shares of the company 2019s common stock has been authorized for issuance . the company has an employee stock purchase plan for united states employees and a plan for international employees ( collectively 2018 2018espp 2019 2019 ) . under the espp , eligible employees may purchase shares of the company 2019s common stock at 85% ( 85 % ) of the lower of the fair market value of edwards lifesciences common stock on the effective date of subscription or the date of purchase . under the espp , employees can authorize the company to withhold up to 12% ( 12 % ) of their compensation for common stock purchases , subject to certain limitations . the espp is available to all active employees of the company paid from the united states payroll and to eligible employees of the company outside the united states , to the extent permitted by local law . the espp for united states employees is qualified under section 423 of the internal revenue code . the number of shares of common stock authorized for issuance under the espp was 6.9 million shares . the fair value of each option award and employee stock purchase subscription is estimated on the date of grant using the black-scholes option valuation model that uses the assumptions noted in the following tables . the risk-free interest rate is estimated using the u.s . treasury yield curve and is based on the expected term of the award . expected volatility is estimated based on a blend of the weighted-average of the historical volatility of edwards lifesciences 2019 stock and the implied volatility from traded options on edwards lifesciences 2019 stock . the expected term of awards granted is estimated from the vesting period of the award , as well as historical exercise behavior , and represents the period of time that awards granted are expected to be outstanding . the company uses historical data to estimate forfeitures and has estimated an annual forfeiture rate of 5.4% ( 5.4 % ) . the black-scholes option pricing model was used with the following weighted-average assumptions for options granted during the following periods : option awards .
||2014|2013|2012|
|average risk-free interest rate|1.5% ( 1.5 % )|0.8% ( 0.8 % )|0.7% ( 0.7 % )|
|expected dividend yield|none|none|none|
|expected volatility|31% ( 31 % )|31% ( 31 % )|31% ( 31 % )|
|expected life ( years )|4.6|4.6|4.6|
|fair value per share|$ 23.50|$ 19.47|$ 23.93|
.
Question: what is the expected change according to the model in the fair value per share between 2012 and 2013?
Answer: | -4.46 |
FINQA4322 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis 114 jpmorgan chase & co./2017 annual report derivative contracts in the normal course of business , the firm uses derivative instruments predominantly for market-making activities . derivatives enable counterparties to manage exposures to fluctuations in interest rates , currencies and other markets . the firm also uses derivative instruments to manage its own credit and other market risk exposure . the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed . for otc derivatives the firm is exposed to the credit risk of the derivative counterparty . for exchange- traded derivatives ( 201cetd 201d ) , such as futures and options , and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp . where possible , the firm seeks to mitigate its credit risk exposures arising from derivative transactions through the use of legally enforceable master netting arrangements and collateral agreements . for further discussion of derivative contracts , counterparties and settlement types , see note 5 . the following table summarizes the net derivative receivables for the periods presented . derivative receivables .
|december 31 ( in millions )|2017|2016|
|interest rate|$ 24673|$ 28302|
|credit derivatives|869|1294|
|foreign exchange|16151|23271|
|equity|7882|4939|
|commodity|6948|6272|
|total net of cash collateral|56523|64078|
|liquid securities and other cash collateral held against derivative receivables ( a )|-16108 ( 16108 )|-22705 ( 22705 )|
|total net of all collateral|$ 40415|$ 41373|
( a ) includes collateral related to derivative instruments where an appropriate legal opinion has not been either sought or obtained . derivative receivables reported on the consolidated balance sheets were $ 56.5 billion and $ 64.1 billion at december 31 , 2017 and 2016 , respectively . derivative receivables decreased predominantly as a result of client- driven market-making activities in cib markets , which reduced foreign exchange and interest rate derivative receivables , and increased equity derivative receivables , driven by market movements . derivative receivables amounts represent the fair value of the derivative contracts after giving effect to legally enforceable master netting agreements and cash collateral held by the firm . however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s . government and agency securities and other group of seven nations ( 201cg7 201d ) government bonds ) and other cash collateral held by the firm aggregating $ 16.1 billion and $ 22.7 billion at december 31 , 2017 and 2016 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor . in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily cash , g7 government securities , other liquid government-agency and guaranteed securities , and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date . although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative transactions move in the firm 2019s favor . the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit . for additional information on the firm 2019s use of collateral agreements , see note 5 . while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure . to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) . these measures all incorporate netting and collateral benefits , where applicable . peak represents a conservative measure of potential exposure to a counterparty calculated in a manner that is broadly equivalent to a 97.5% ( 97.5 % ) confidence level over the life of the transaction . peak is the primary measure used by the firm for setting of credit limits for derivative transactions , senior management reporting and derivatives exposure management . dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be equivalent to the risk of loan exposures . dre is a less extreme measure of potential credit loss than peak and is used for aggregating derivative credit risk exposures with loans and other credit risk . finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral . avg exposure over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit risk capital and the cva , as further described below . the three year avg exposure was $ 29.0 billion and $ 31.1 billion at december 31 , 2017 and 2016 , respectively , compared with derivative receivables , net of all collateral , of $ 40.4 billion and $ 41.4 billion at december 31 , 2017 and 2016 , respectively . the fair value of the firm 2019s derivative receivables incorporates cva to reflect the credit quality of counterparties . cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market . the firm believes that active risk management is essential to controlling the dynamic credit risk in the derivatives portfolio . in addition , the firm 2019s risk management process takes into consideration the potential .
Question: in 2017 what was the percent of the total net of cash collateral that was foreign exchange
Answer: | 0.28574 |
FINQA4323 | Please answer the given financial question based on the context.
Context: mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the company does not make any contributions to its postretirement plan other than funding benefits payments . the following table summarizes expected net benefit payments from the company 2019s general assets through 2019 : benefit payments expected subsidy receipts benefit payments .
||benefit payments|expected subsidy receipts|net benefit payments|
|2010|$ 2714|$ 71|$ 2643|
|2011|3028|91|2937|
|2012|3369|111|3258|
|2013|3660|134|3526|
|2014|4019|151|3868|
|2015 2013 2019|22686|1071|21615|
the company provides limited postemployment benefits to eligible former u.s . employees , primarily severance under a formal severance plan ( the 201cseverance plan 201d ) . the company accounts for severance expense by accruing the expected cost of the severance benefits expected to be provided to former employees after employment over their relevant service periods . the company updates the assumptions in determining the severance accrual by evaluating the actual severance activity and long-term trends underlying the assumptions . as a result of updating the assumptions , the company recorded incremental severance expense ( benefit ) related to the severance plan of $ 3471 , $ 2643 and $ ( 3418 ) , respectively , during the years 2009 , 2008 and 2007 . these amounts were part of total severance expenses of $ 135113 , $ 32997 and $ 21284 in 2009 , 2008 and 2007 , respectively , included in general and administrative expenses in the accompanying consolidated statements of operations . note 14 . debt on april 28 , 2008 , the company extended its committed unsecured revolving credit facility , dated as of april 28 , 2006 ( the 201ccredit facility 201d ) , for an additional year . the new expiration date of the credit facility is april 26 , 2011 . the available funding under the credit facility will remain at $ 2500000 through april 27 , 2010 and then decrease to $ 2000000 during the final year of the credit facility agreement . other terms and conditions in the credit facility remain unchanged . the company 2019s option to request that each lender under the credit facility extend its commitment was provided pursuant to the original terms of the credit facility agreement . borrowings under the facility are available to provide liquidity in the event of one or more settlement failures by mastercard international customers and , subject to a limit of $ 500000 , for general corporate purposes . the facility fee and borrowing cost are contingent upon the company 2019s credit rating . at december 31 , 2009 , the facility fee was 7 basis points on the total commitment , or approximately $ 1774 annually . interest on borrowings under the credit facility would be charged at the london interbank offered rate ( libor ) plus an applicable margin of 28 basis points or an alternative base rate , and a utilization fee of 10 basis points would be charged if outstanding borrowings under the facility exceed 50% ( 50 % ) of commitments . at the inception of the credit facility , the company also agreed to pay upfront fees of $ 1250 and administrative fees of $ 325 , which are being amortized over five years . facility and other fees associated with the credit facility totaled $ 2222 , $ 2353 and $ 2477 for each of the years ended december 31 , 2009 , 2008 and 2007 , respectively . mastercard was in compliance with the covenants of the credit facility and had no borrowings under the credit facility at december 31 , 2009 or december 31 , 2008 . the majority of credit facility lenders are members or affiliates of members of mastercard international . in june 1998 , mastercard international issued ten-year unsecured , subordinated notes ( the 201cnotes 201d ) paying a fixed interest rate of 6.67% ( 6.67 % ) per annum . mastercard repaid the entire principal amount of $ 80000 on june 30 , 2008 pursuant to the terms of the notes . the interest expense on the notes was $ 2668 and $ 5336 for each of the years ended december 31 , 2008 and 2007 , respectively. .
Question: what is the average yearly benefit payment for the years 2015-2019?
Answer: | 4537.2 |
FINQA4324 | Please answer the given financial question based on the context.
Context: as a result of the transaction , we recognized a net gain of approximately $ 1.3 billion , including $ 1.2 billion recognized in 2016 . the net gain represents the $ 2.5 billion fair value of the shares of lockheed martin common stock exchanged and retired as part of the exchange offer , plus the $ 1.8 billion one-time special cash payment , less the net book value of the is&gs business of about $ 3.0 billion at august 16 , 2016 and other adjustments of about $ 100 million . in 2017 , we recognized an additional gain of $ 73 million , which reflects certain post-closing adjustments , including certain tax adjustments and the final determination of net working capital . we classified the operating results of our former is&gs business as discontinued operations in our consolidated financial statements in accordance with u.s . gaap , as the divestiture of this business represented a strategic shift that had a major effect on our operations and financial results . however , the cash flows generated by the is&gs business have not been reclassified in our consolidated statements of cash flows as we retained this cash as part of the transaction . the operating results , prior to the august 16 , 2016 divestiture date , of the is&gs business that have been reflected within net earnings from discontinued operations for the year ended december 31 , 2016 are as follows ( in millions ) : .
|net sales|$ 3410|
|cost of sales|-2953 ( 2953 )|
|severance charges|-19 ( 19 )|
|gross profit|438|
|other income net|16|
|operating profit|454|
|earnings from discontinued operations before income taxes|454|
|income tax expense|-147 ( 147 )|
|net gain on divestiture of discontinued operations|1205|
|net earnings from discontinued operations|$ 1512|
the operating results of the is&gs business reported as discontinued operations are different than the results previously reported for the is&gs business segment . results reported within net earnings from discontinued operations only include costs that were directly attributable to the is&gs business and exclude certain corporate overhead costs that were previously allocated to the is&gs business . as a result , we reclassified $ 82 million in 2016 of corporate overhead costs from the is&gs business to other unallocated , net on our consolidated statement of earnings . additionally , we retained all assets and obligations related to the pension benefits earned by former is&gs business salaried employees through the date of divestiture . therefore , the non-service portion of net pension costs ( e.g. , interest cost , actuarial gains and losses and expected return on plan assets ) for these plans have been reclassified from the operating results of the is&gs business segment and reported as a reduction to the fas/cas pension adjustment . these net pension costs were $ 54 million for the year ended december 31 , 2016 . the service portion of net pension costs related to is&gs business 2019s salaried employees that transferred to leidos were included in the operating results of the is&gs business classified as discontinued operations because such costs are no longer incurred by us . significant severance charges related to the is&gs business were historically recorded at the lockheed martin corporate office . these charges have been reclassified into the operating results of the is&gs business , classified as discontinued operations , and excluded from the operating results of our continuing operations . the amount of severance charges reclassified were $ 19 million in 2016 . financial information related to cash flows generated by the is&gs business , such as depreciation and amortization , capital expenditures , and other non-cash items , included in our consolidated statement of cash flows for the years ended december 31 , 2016 were not significant. .
Question: what is the gross profit margin?
Answer: | 0.12845 |
FINQA4325 | Please answer the given financial question based on the context.
Context: the following table reports the significant movements in our shareholders 2019 equity for the year ended december 31 , 2010. .
|( in millions of u.s . dollars )|2010|
|balance beginning of year|$ 19667|
|net income|3108|
|dividends declared on common shares|-443 ( 443 )|
|change in net unrealized appreciation ( depreciation ) on investments net of tax|742|
|repurchase of shares|-303 ( 303 )|
|other movements net of tax|203|
|balance end of year|$ 22974|
total shareholders 2019 equity increased $ 3.3 billion in 2010 , primarily due to net income of $ 3.1 billion and the change in net unrealized appreciation on investments of $ 742 million . short-term debt at december 31 , 2010 , in connection with the financing of the rain and hail acquisition , short-term debt includes reverse repurchase agreements totaling $ 1 billion . in addition , $ 300 million in borrowings against ace 2019s revolving credit facility were outstanding at december 31 , 2010 . at december 31 , 2009 , short-term debt consisted of a five-year term loan which we repaid in december 2010 . long-term debt our total long-term debt increased by $ 200 million during the year to $ 3.4 billion and is described in detail in note 9 to the consolidated financial statements , under item 8 . in november 2010 , ace ina issued $ 700 million of 2.6 percent senior notes due november 2015 . these senior unsecured notes are guaranteed on a senior basis by the company and they rank equally with all of the company 2019s other senior obligations . in april 2008 , as part of the financing of the combined insurance acquisition , ace ina entered into a $ 450 million float- ing interest rate syndicated term loan agreement due april 2013 . simultaneously , the company entered into a swap transaction that had the economic effect of fixing the interest rate for the term of the loan . in december 2010 , ace repaid this loan and exited the swap . in december 2008 , ace ina entered into a $ 66 million dual tranche floating interest rate term loan agreement . the first tranche , a $ 50 million three-year term loan due december 2011 , had a floating interest rate . simultaneously , the company entered into a swap transaction that had the economic effect of fixing the interest rate for the term of the loan . in december 2010 , ace repaid this loan and exited the swap . the second tranche , a $ 16 million nine-month term loan , was due and repaid in september 2009 . trust preferred securities the securities outstanding consist of $ 300 million of trust preferred securities due 2030 , issued by a special purpose entity ( a trust ) that is wholly owned by us . the sole assets of the special purpose entity are debt instruments issued by one or more of our subsidiaries . the special purpose entity looks to payments on the debt instruments to make payments on the preferred securities . we have guaranteed the payments on these debt instruments . the trustees of the trust include one or more of our officers and at least one independent trustee , such as a trust company . our officers serving as trustees of the trust do not receive any compensation or other remuneration for their services in such capacity . the full $ 309 million of outstanding trust preferred securities ( calculated as $ 300 million as discussed above plus our equity share of the trust ) is shown on our con- solidated balance sheet as a liability . additional information with respect to the trust preferred securities is contained in note 9 d ) to the consolidated financial statements , under item 8 . common shares our common shares had a par value of chf 30.57 each at december 31 , 2010 . at the annual general meeting held in may 2010 , the company 2019s shareholders approved a par value reduction in an aggregate swiss franc amount , pursuant to a formula , equal to $ 1.32 per share , which we refer to as the base annual divi- dend . the base annual dividend is payable in four installments , provided that each of the swiss franc installments will be .
Question: what was the percent of the change in the shareholders 2019 equity in 2010
Answer: | 0.16815 |
FINQA4326 | Please answer the given financial question based on the context.
Context: valuation techniques 2013 cash equivalents are mostly comprised of short-term money-market instruments and are valued at cost , which approximates fair value . u.s . equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year . for u.s . equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker , or investment manager . these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager . commingled equity funds are public investment vehicles valued using the net asset value ( nav ) provided by the fund manager . the nav is the total value of the fund divided by the number of shares outstanding . commingled equity funds are categorized as level 1 if traded at their nav on a nationally recognized securities exchange or categorized as level 2 if the nav is corroborated by observable market data ( e.g. , purchases or sales activity ) . fixed income securities categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g . interest rates and yield curves observable at commonly quoted intervals ) , bids provided by brokers or dealers , or quoted prices of securities with similar characteristics . private equity funds , real estate funds , hedge funds , and fixed income securities categorized as level 3 are valued based on valuation models that include significant unobservable inputs and cannot be corroborated using verifiable observable market data . valuations for private equity funds and real estate funds are determined by the general partners , while hedge funds are valued by independent administrators . depending on the nature of the assets , the general partners or independent administrators use both the income and market approaches in their models . the market approach consists of analyzing market transactions for comparable assets while the income approach uses earnings or the net present value of estimated future cash flows adjusted for liquidity and other risk factors . commodities categorized as level 1 are traded on an active commodity exchange and are valued at their closing prices on the last trading day of the year . commodities categorized as level 2 represent shares in a commingled commodity fund valued using the nav , which is corroborated by observable market data . contributions and expected benefit payments we generally determine funding requirements for our defined benefit pension plans in a manner consistent with cas and internal revenue code rules . in 2012 , we made contributions of $ 3.6 billion related to our qualified defined benefit pension plans . we plan to make contributions of approximately $ 1.5 billion related to the qualified defined benefit pension plans in 2013 . in 2012 , we made contributions of $ 235 million related to our retiree medical and life insurance plans . we expect no required contributions related to the retiree medical and life insurance plans in 2013 . the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2012 ( in millions ) : .
||2013|2014|2015|2016|2017|2018 - 2022|
|qualified defined benefit pension plans|$ 1900|$ 1970|$ 2050|$ 2130|$ 2220|$ 12880|
|retiree medical and life insurance plans|200|210|220|220|220|1080|
defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees . under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents . our contributions were $ 380 million in 2012 , $ 378 million in 2011 , and $ 379 million in 2010 , the majority of which were funded in our common stock . our defined contribution plans held approximately 48.6 million and 52.1 million shares of our common stock as of december 31 , 2012 and 2011. .
Question: what is the ratio of the 2012 contribution to the anticipated employee contributions in 2013
Answer: | 2.4 |
FINQA4327 | Please answer the given financial question based on the context.
Context: cash payments for federal , state , and foreign income taxes were $ 238.3 million , $ 189.5 million , and $ 90.7 million for the years ended december 31 , 2015 , 2014 , and 2013 , respectively . the following table summarizes the changes related to pca 2019s gross unrecognized tax benefits excluding interest and penalties ( dollars in millions ) : .
||2015|2014|2013|
|balance as of january 1|$ -4.4 ( 4.4 )|$ -5.4 ( 5.4 )|$ -111.3 ( 111.3 )|
|increase related to acquisition of boise inc . ( a )|2014|2014|-65.2 ( 65.2 )|
|increases related to prior years 2019 tax positions|-2.8 ( 2.8 )|-1.0 ( 1.0 )|-0.1 ( 0.1 )|
|increases related to current year tax positions|-0.4 ( 0.4 )|-0.3 ( 0.3 )|-1.5 ( 1.5 )|
|decreases related to prior years' tax positions ( b )|2014|0.9|64.8|
|settlements with taxing authorities ( c )|0.7|0.5|106.2|
|expiration of the statute of limitations|1.1|0.9|1.7|
|balance at december 31|$ -5.8 ( 5.8 )|$ -4.4 ( 4.4 )|$ -5.4 ( 5.4 )|
( a ) in 2013 , pca acquired $ 65.2 million of gross unrecognized tax benefits from boise inc . that related primarily to the taxability of the alternative energy tax credits . ( b ) the 2013 amount includes a $ 64.3 million gross decrease related to the taxability of the alternative energy tax credits claimed in 2009 excise tax returns by boise inc . for further discussion regarding these credits , see note 7 , alternative energy tax credits . ( c ) the 2013 amount includes a $ 104.7 million gross decrease related to the conclusion of the internal revenue service audit of pca 2019s alternative energy tax credits . for further discussion regarding these credits , see note 7 , alternative energy tax credits . at december 31 , 2015 , pca had recorded a $ 5.8 million gross reserve for unrecognized tax benefits , excluding interest and penalties . of the total , $ 4.2 million ( net of the federal benefit for state taxes ) would impact the effective tax rate if recognized . pca recognizes interest accrued related to unrecognized tax benefits and penalties as income tax expense . at december 31 , 2015 and 2014 , we had an insignificant amount of interest and penalties recorded for unrecognized tax benefits included in the table above . pca does not expect the unrecognized tax benefits to change significantly over the next 12 months . pca is subject to taxation in the united states and various state and foreign jurisdictions . a federal examination of the tax years 2010 2014 2012 was concluded in february 2015 . a federal examination of the 2013 tax year began in october 2015 . the tax years 2014 2014 2015 remain open to federal examination . the tax years 2011 2014 2015 remain open to state examinations . some foreign tax jurisdictions are open to examination for the 2008 tax year forward . through the boise acquisition , pca recorded net operating losses and credit carryforwards from 2008 through 2011 and 2013 that are subject to examinations and adjustments for at least three years following the year in which utilized . 7 . alternative energy tax credits the company generates black liquor as a by-product of its pulp manufacturing process , which entitled it to certain federal income tax credits . when black liquor is mixed with diesel , it is considered an alternative fuel that was eligible for a $ 0.50 per gallon refundable alternative energy tax credit for gallons produced before december 31 , 2009 . black liquor was also eligible for a $ 1.01 per gallon taxable cellulosic biofuel producer credit for gallons of black liquor produced and used in 2009 . in 2013 , we reversed $ 166.0 million of a reserve for unrecognized tax benefits for alternative energy tax credits as a benefit to income taxes . approximately $ 103.9 million ( $ 102.0 million of tax , net of the federal benefit for state taxes , plus $ 1.9 million of accrued interest ) of the reversal is due to the completion of the irs .
Question: what was the difference in millions of cash payments for federal , state , and foreign income taxes between 2014 and 2015?
Answer: | 48.8 |
FINQA4328 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis 110 jpmorgan chase & co . / 2008 annual report the allowance for credit losses increased $ 13.7 billion from the prior year to $ 23.8 billion . the increase included $ 4.1 billion of allowance related to noncredit-impaired loans acquired in the washington mutual transaction and the related accounting conformity provision . excluding held-for-sale loans , loans carried at fair value , and pur- chased credit-impaired consumer loans , the allowance for loan losses represented 3.62% ( 3.62 % ) of loans at december 31 , 2008 , compared with 1.88% ( 1.88 % ) at december 31 , 2007 . the consumer allowance for loan losses increased $ 10.5 billion from the prior year as a result of the washington mutual transaction and increased allowance for loan loss in residential real estate and credit card . the increase included additions to the allowance for loan losses of $ 4.7 billion driven by higher estimated losses for residential mort- gage and home equity loans as the weak labor market and weak overall economic conditions have resulted in increased delinquencies , while continued weak housing prices have driven a significant increase in loss severity . the allowance for loan losses related to credit card increased $ 4.3 billion from the prior year primarily due to the acquired allowance and subsequent conforming provision for loan loss related to the washington mutual bank acquisition and an increase in provision for loan losses of $ 2.3 billion in 2008 over 2007 , as higher estimated net charge-offs are expected in the port- folio resulting from the current economic conditions . the wholesale allowance for loan losses increase of $ 3.4 billion from december 31 , 2007 , reflected the effect of a weakening credit envi- ronment and the transfer of $ 4.9 billion of funded and unfunded leveraged lending commitments to retained loans from held-for-sale . to provide for the risk of loss inherent in the firm 2019s process of extending credit , an allowance for lending-related commitments is held for both wholesale and consumer , which is reported in other lia- bilities . the wholesale component is computed using a methodology similar to that used for the wholesale loan portfolio , modified for expected maturities and probabilities of drawdown and has an asset- specific component and a formula-based component . for a further discussion on the allowance for lending-related commitment see note 15 on pages 178 2013180 of this annual report . the allowance for lending-related commitments for both wholesale and consumer was $ 659 million and $ 850 million at december 31 , 2008 and 2007 , respectively . the decrease reflects the reduction in lending-related commitments at december 31 , 2008 . for more information , see page 102 of this annual report . the following table presents the allowance for loan losses and net charge-offs ( recoveries ) by business segment at december 31 , 2008 and 2007 . net charge-offs ( recoveries ) december 31 , allowance for loan losses year ended .
|december 31 , ( in millions )|december 31 , 2008|december 31 , 2007|2008|2007|
|investment bank|$ 3444|$ 1329|$ 105|$ 36|
|commercial banking|2826|1695|288|44|
|treasury & securities services|74|18|-2 ( 2 )|2014|
|asset management|191|112|11|-8 ( 8 )|
|corporate/private equity|10|2014|2014|2014|
|total wholesale|6545|3154|402|72|
|retail financial services|8918|2668|4877|1350|
|card services|7692|3407|4556|3116|
|corporate/private equity|9|5|2014|2014|
|total consumer 2013 reported|16619|6080|9433|4466|
|credit card 2013 securitized|2014|2014|3612|2380|
|total consumer 2013 managed|16619|6080|13045|6846|
|total|$ 23164|$ 9234|$ 13477|$ 6918|
.
Question: what was the percentage change in net charge-offs relating to commercial banking between 2007 and 2008?
Answer: | 0.66726 |
FINQA4329 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) basis step-up from corporate restructuring represents the tax effects of increasing the basis for tax purposes of certain of the company 2019s assets in conjunction with its spin-off from american radio systems corporation , its former parent company . at december 31 , 2003 , the company had net federal and state operating loss carryforwards available to reduce future taxable income of approximately $ 0.9 billion and $ 1.5 billion , respectively . if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : .
|years ended december 31,|federal|state|
|2004 to 2008|$ 1451|$ 483578|
|2009 to 2013|12234|66666|
|2014 to 2018|10191|235589|
|2019 to 2023|903010|728139|
|total|$ 926886|$ 1513972|
sfas no . 109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2003 , the company has provided a valuation allowance of approximately $ 156.7 million , primarily related to net state deferred tax assets , capital loss carryforwards and the lost tax benefit and costs associated with our tax refund claims . the company has not provided a valuation allowance for the remaining net deferred tax assets , primarily its tax refund claims and federal net operating loss carryforwards , as management believes the company will be successful with its tax refund claims and have sufficient time to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period . the company intends to recover a portion of its deferred tax asset through its tax refund claims , related to certain federal net operating losses , filed during 2003 as part of a tax planning strategy implemented in 2002 . the recoverability of its remaining net deferred tax asset has been assessed utilizing stable state ( no growth ) projections based on its current operations . the projections show a significant decrease in depreciation and interest expense 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 and debt repayments reducing interest expense . 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 realization of the company 2019s deferred tax assets will be dependent upon its ability to generate approximately $ 1.0 billion in taxable income from january 1 , 2004 to december 31 , 2023 . if the company is unable to generate sufficient taxable income in the future , or carry back losses as described above , it will be required to reduce its net deferred tax asset through a charge to income tax expense , which would result in a corresponding decrease in stockholders 2019 equity . depending on the resolution of the verestar bankruptcy proceedings described in note 2 , the company may be entitled to a worthless stock or bad debt deduction for its investment in verestar . no income tax benefit has been provided for these potential deductions due to the uncertainty surrounding the bankruptcy proceedings . 13 . stockholders 2019 equity preferred stock as of december 31 , 2003 the company was authorized to issue up to 20.0 million shares of $ .01 par value preferred stock . as of december 31 , 2003 and 2002 there were no preferred shares issued or outstanding. .
Question: what portion of the state operating loss carryforwards expires between 2004 and 2008?
Answer: | 0.31941 |
FINQA4330 | Please answer the given financial question based on the context.
Context: an average of 7.1 in 2000 . the top 100 largest clients used an average of 11.3 products in 2001 , up from an average of 11.2 in 2000 . state street benefits significantly from its ability to derive revenue from the transaction flows of clients . this occurs through the management of cash positions , including deposit balances and other short-term investment activities , using state street 2019s balance sheet capacity . significant foreign currency transaction volumes provide potential for foreign exchange trading revenue as well . fee revenue total operating fee revenuewas $ 2.8 billion in 2001 , compared to $ 2.7 billion in 2000 , an increase of 6% ( 6 % ) . adjusted for the formation of citistreet , the growth in fee revenue was 8% ( 8 % ) . growth in servicing fees of $ 199million , or 14% ( 14 % ) , was the primary contributor to the increase in fee revenue . this growth primarily reflects several large client wins installed starting in the latter half of 2000 and continuing throughout 2001 , and strength in fee revenue from securities lending . declines in equity market values worldwide offset some of the growth in servicing fees . management fees were down 5% ( 5 % ) , adjusted for the formation of citistreet , reflecting the decline in theworldwide equitymarkets . foreign exchange trading revenue was down 5% ( 5 % ) , reflecting lower currency volatility , and processing fees and other revenue was up 21% ( 21 % ) , primarily due to gains on the sales of investment securities . servicing and management fees are a function of several factors , including the mix and volume of assets under custody and assets under management , securities positions held , and portfolio transactions , as well as types of products and services used by clients . state street estimates , based on a study conducted in 2000 , that a 10% ( 10 % ) increase or decrease in worldwide equity values would cause a corresponding change in state street 2019s total revenue of approximately 2% ( 2 % ) . if bond values were to increase or decrease by 10% ( 10 % ) , state street would anticipate a corresponding change of approximately 1% ( 1 % ) in its total revenue . securities lending revenue in 2001 increased approximately 40% ( 40 % ) over 2000 . securities lending revenue is reflected in both servicing fees and management fees . securities lending revenue is a function of the volume of securities lent and interest rate spreads . while volumes increased in 2001 , the year-over-year increase is primarily due to wider interest rate spreads resulting from the unusual occurrence of eleven reductions in the u.s . federal funds target rate during 2001 . f e e r e v e n u e ( dollars in millions ) 2001 ( 1 ) 2000 1999 ( 2 ) change adjusted change 00-01 ( 3 ) .
|( dollars in millions )|2001 ( 1 )|2000|1999 ( 2 )|change 00-01|adjusted change 00-01 ( 3 )|
|servicing fees|$ 1624|$ 1425|$ 1170|14% ( 14 % )|14% ( 14 % )|
|management fees|511|581|600|-12 ( 12 )|-5 ( 5 )|
|foreign exchange trading|368|387|306|-5 ( 5 )|-5 ( 5 )|
|processing fees and other|329|272|236|21|21|
|total fee revenue|$ 2832|$ 2665|$ 2312|6|8|
( 1 ) 2001 results exclude the write-off of state street 2019s total investment in bridge of $ 50 million ( 2 ) 1999 results exclude the one-time charge of $ 57 million related to the repositioning of the investment portfolio ( 3 ) 2000 results adjusted for the formation of citistreet 4 state street corporation .
Question: what is the growth rate in total fee revenue in 2001?
Answer: | 0.06266 |
FINQA4331 | Please answer the given financial question based on the context.
Context: marathon oil corporation notes to consolidated financial statements the changes in the carrying amount of goodwill for the years ended december 31 , 2007 , and 2008 , were as follows : ( in millions ) e&p osm rm&t total .
|( in millions )|e&p|osm|rm&t|total|
|balance as of december 31 2006|$ 519|$ 2013|$ 879|$ 1398|
|acquired|71|1437|2013|1508|
|adjusted ( a )|2013|2013|-7 ( 7 )|-7 ( 7 )|
|balance as of december 31 2007|590|1437|872|2899|
|adjusted ( a )|-17 ( 17 )|-25 ( 25 )|7|-35 ( 35 )|
|impaired|2013|-1412 ( 1412 )|2013|-1412 ( 1412 )|
|disposed ( b )|-5 ( 5 )||2013|-5 ( 5 )|
|balance as of december 31 2008|$ 568|$ 2013|$ 879|$ 1447|
( a ) adjustments related to prior period income tax and royalty adjustments . ( b ) goodwill was allocated to the norwegian outside-operated properties sold in 2008 . 17 . fair value measurements as defined in sfas no . 157 , fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date . sfas no . 157 describes three approaches to measuring the fair value of assets and liabilities : the market approach , the income approach and the cost approach , each of which includes multiple valuation techniques . the market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities . the income approach uses valuation techniques to measure fair value by converting future amounts , such as cash flows or earnings , into a single present value amount using current market expectations about those future amounts . the cost approach is based on the amount that would currently be required to replace the service capacity of an asset . this is often referred to as current replacement cost . the cost approach assumes that the fair value would not exceed what it would cost a market participant to acquire or construct a substitute asset of comparable utility , adjusted for obsolescence . sfas no . 157 does not prescribe which valuation technique should be used when measuring fair value and does not prioritize among the techniques . sfas no . 157 establishes a fair value hierarchy that prioritizes the inputs used in applying the various valuation techniques . inputs broadly refer to the assumptions that market participants use to make pricing decisions , including assumptions about risk . level 1 inputs are given the highest priority in the fair value hierarchy while level 3 inputs are given the lowest priority . the three levels of the fair value hierarchy are as follows . 2022 level 1 2013 observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date . active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis . 2022 level 2 2013 observable market-based inputs or unobservable inputs that are corroborated by market data . these are inputs other than quoted prices in active markets included in level 1 , which are either directly or indirectly observable as of the reporting date . 2022 level 3 2013 unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management 2019s best estimate of fair value . we use a market or income approach for recurring fair value measurements and endeavor to use the best information available . accordingly , valuation techniques that maximize the use of observable inputs are favored . financial assets and liabilities are classified in their entirety based on the lowest priority level of input that is significant to the fair value measurement . the assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement of assets and liabilities within the levels of the fair value hierarchy. .
Question: what percentage of end of the year 2008 total goodwill does rm&t consist of?
Answer: | 0.60746 |
FINQA4332 | Please answer the given financial question based on the context.
Context: the company recognizes the effect of income tax positions only if sustaining those positions is more likely than not . changes in recognition or measurement are reflected in the period in which a change in judgment occurs . the company records penalties and interest related to unrecognized tax benefits in income taxes in the company 2019s consolidated statements of income . changes in accounting principles business combinations and noncontrolling interests on january 1 , 2009 , the company adopted revised principles related to business combinations and noncontrolling interests . the revised principle on business combinations applies to all transactions or other events in which an entity obtains control over one or more businesses . it requires an acquirer to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at the acquisition date , measured at their fair values as of that date . business combinations achieved in stages require recognition of the identifiable assets and liabilities , as well as the noncontrolling interest in the acquiree , at the full amounts of their fair values when control is obtained . this revision also changes the requirements for recognizing assets acquired and liabilities assumed arising from contingencies , and requires direct acquisition costs to be expensed . in addition , it provides certain changes to income tax accounting for business combinations which apply to both new and previously existing business combinations . in april 2009 , additional guidance was issued which revised certain business combination guidance related to accounting for contingent liabilities assumed in a business combination . the company has adopted this guidance in conjunction with the adoption of the revised principles related to business combinations . the adoption of the revised principles related to business combinations has not had a material impact on the consolidated financial statements . the revised principle related to noncontrolling interests establishes accounting and reporting standards for the noncontrolling interests in a subsidiary and for the deconsolidation of a subsidiary . the revised principle clarifies that a noncontrolling interest in a subsidiary is an ownership interest in the consolidated entity that should be reported as a separate component of equity in the consolidated statements of financial position . the revised principle requires retrospective adjustments , for all periods presented , of stockholders 2019 equity and net income for noncontrolling interests . in addition to these financial reporting changes , the revised principle provides for significant changes in accounting related to changes in ownership of noncontrolling interests . changes in aon 2019s controlling financial interests in consolidated subsidiaries that do not result in a loss of control are accounted for as equity transactions similar to treasury stock transactions . if a change in ownership of a consolidated subsidiary results in a loss of control and deconsolidation , any retained ownership interests are remeasured at fair value with the gain or loss reported in net income . in previous periods , noncontrolling interests for operating subsidiaries were reported in other general expenses in the consolidated statements of income . prior period amounts have been restated to conform to the current year 2019s presentation . the principal effect on the prior years 2019 balance sheets related to the adoption of the new guidance related to noncontrolling interests is summarized as follows ( in millions ) : .
|as of december 31|2008|2007|
|equity as previously reported|$ 5310|$ 6221|
|increase for reclassification of non-controlling interests|105|40|
|equity as adjusted|$ 5415|$ 6261|
the revised principle also requires that net income be adjusted to include the net income attributable to the noncontrolling interests and a new separate caption for net income attributable to aon stockholders be presented in the consolidated statements of income . the adoption of this new guidance increased net income by $ 16 million and $ 13 million for 2008 and 2007 , respectively . net .
Question: what is the average equity as adjusted?
Answer: | 5838.0 |
FINQA4333 | Please answer the given financial question based on the context.
Context: z i m m e r h o l d i n g s , i n c . a n d s u b s i d i a r i e s 2 0 0 2 f o r m 1 0 - k notes to consolidated financial statements ( continued ) rating as of december 31 , 2002 met such requirement . fair value commitments under the credit facility are subject to certain the carrying value of the company 2019s borrowings approxi- fees , including a facility and a utilization fee . mates fair value due to their short-term maturities and uncommitted credit facilities variable interest rates . the company has a $ 26 million uncommitted unsecured 8 . derivative financial instruments revolving line of credit . the purpose of this credit line is to support the working capital needs , letters of credit and the company is exposed to market risk due to changes overdraft needs for the company . the uncommitted credit in currency exchange rates . as a result , the company utilizes agreement contains customary affirmative and negative cove- foreign exchange forward contracts to offset the effect of nants and events of default , none of which are considered exchange rate fluctuations on anticipated foreign currency restrictive to the operation of the business . in addition , this transactions , primarily intercompany sales and purchases uncommitted credit agreement provides for unconditional expected to occur within the next twelve to twenty-four and irrevocable guarantees by the company . in the event the months . the company does not hold financial instruments company 2019s long-term debt ratings by both standard and for trading or speculative purposes . for derivatives which poor 2019s ratings services and moody 2019s investor 2019s service , inc. , qualify as hedges of future cash flows , the effective portion fall below bb- and ba3 , then the company may be required of changes in fair value is temporarily recorded in other to repay all outstanding and contingent obligations . the comprehensive income , then recognized in earnings when company 2019s credit rating as of december 31 , 2002 met such the hedged item affects earnings . the ineffective portion of requirement . this uncommitted credit line matures on a derivative 2019s change in fair value , if any , is reported in july 31 , 2003 . outstanding borrowings under this uncommit- earnings . the net amount recognized in earnings during the ted line of credit as of december 31 , 2002 were $ 0.5 million years ended december 31 , 2002 and 2001 , due to ineffective- with a weighted average interest rate of 6.35 percent . ness and amounts excluded from the assessment of hedge the company also has a $ 15 million uncommitted effectiveness , was not significant . revolving unsecured line of credit . the purpose of this line of the notional amounts of outstanding foreign exchange credit is to support short-term working capital needs of the forward contracts , principally japanese yen and the euro , company . the agreement for this uncommitted unsecured entered into with third parties , at december 31 , 2002 , was line of credit contains customary covenants , none of which $ 252 million . the fair value of derivative instruments recorded are considered restrictive to the operation of the business . in accrued liabilities at december 31 , 2002 , was $ 13.8 million , this uncommitted line matures on july 31 , 2003 . there were or $ 8.5 million net of taxes , which is deferred in other no borrowings under this uncommitted line of credit as of comprehensive income and is expected to be reclassified to december 31 , 2002 . earnings over the next two years , of which , $ 7.7 million , or the company has a $ 20 million uncommitted revolving $ 4.8 million , net of taxes , is expected to be reclassified to unsecured line of credit . the purpose of this line of credit is earnings over the next twelve months . to support short-term working capital needs of the company . the pricing is based upon money market rates . the agree- 9 . capital stock and earnings per share ment for this uncommitted unsecured line of credit contains as discussed in note 14 , all of the shares of company customary covenants , none of which are considered restrictive common stock were distributed at the distribution by the to the operation of the business . this uncommitted line former parent to its stockholders in the form of a dividend matures on july 31 , 2003 . there were no borrowings under of one share of company common stock , and the associated this uncommitted line of credit as of december 31 , 2002 . preferred stock purchase right , for every ten shares of the company was in compliance with all covenants common stock of the former parent . in july 2001 the board under all three of the uncommitted credit facilities as of of directors of the company adopted a rights agreement december 31 , 2002 . the company had no long-term debt intended to have anti-takeover effects . under this agreement as of december 31 , 2002 . one right attaches to each share of company common stock . outstanding debt as of december 31 , 2002 and 2001 , the rights will not become exercisable until the earlier of : consist of the following ( in millions ) : a ) the company learns that a person or group acquired , or 2002 2001 obtained the right to acquire , beneficial ownership of securi- credit facility $ 156.2 $ 358.2 ties representing more than 20 percent of the shares of uncommitted credit facilities 0.5 5.7 company common stock then outstanding , or b ) such date , if any , as may be designated by the board of directorstotal debt $ 156.7 $ 363.9 following the commencement of , or first public disclosure of the company paid $ 13.0 million and $ 4.6 million in an intention to commence , a tender offer or exchange offer interest charges during 2002 and 2001 , respectively. .
||2002|2001|
|credit facility|$ 156.2|$ 358.2|
|uncommitted credit facilities|0.5|5.7|
|total debt|$ 156.7|$ 363.9|
z i m m e r h o l d i n g s , i n c . a n d s u b s i d i a r i e s 2 0 0 2 f o r m 1 0 - k notes to consolidated financial statements ( continued ) rating as of december 31 , 2002 met such requirement . fair value commitments under the credit facility are subject to certain the carrying value of the company 2019s borrowings approxi- fees , including a facility and a utilization fee . mates fair value due to their short-term maturities and uncommitted credit facilities variable interest rates . the company has a $ 26 million uncommitted unsecured 8 . derivative financial instruments revolving line of credit . the purpose of this credit line is to support the working capital needs , letters of credit and the company is exposed to market risk due to changes overdraft needs for the company . the uncommitted credit in currency exchange rates . as a result , the company utilizes agreement contains customary affirmative and negative cove- foreign exchange forward contracts to offset the effect of nants and events of default , none of which are considered exchange rate fluctuations on anticipated foreign currency restrictive to the operation of the business . in addition , this transactions , primarily intercompany sales and purchases uncommitted credit agreement provides for unconditional expected to occur within the next twelve to twenty-four and irrevocable guarantees by the company . in the event the months . the company does not hold financial instruments company 2019s long-term debt ratings by both standard and for trading or speculative purposes . for derivatives which poor 2019s ratings services and moody 2019s investor 2019s service , inc. , qualify as hedges of future cash flows , the effective portion fall below bb- and ba3 , then the company may be required of changes in fair value is temporarily recorded in other to repay all outstanding and contingent obligations . the comprehensive income , then recognized in earnings when company 2019s credit rating as of december 31 , 2002 met such the hedged item affects earnings . the ineffective portion of requirement . this uncommitted credit line matures on a derivative 2019s change in fair value , if any , is reported in july 31 , 2003 . outstanding borrowings under this uncommit- earnings . the net amount recognized in earnings during the ted line of credit as of december 31 , 2002 were $ 0.5 million years ended december 31 , 2002 and 2001 , due to ineffective- with a weighted average interest rate of 6.35 percent . ness and amounts excluded from the assessment of hedge the company also has a $ 15 million uncommitted effectiveness , was not significant . revolving unsecured line of credit . the purpose of this line of the notional amounts of outstanding foreign exchange credit is to support short-term working capital needs of the forward contracts , principally japanese yen and the euro , company . the agreement for this uncommitted unsecured entered into with third parties , at december 31 , 2002 , was line of credit contains customary covenants , none of which $ 252 million . the fair value of derivative instruments recorded are considered restrictive to the operation of the business . in accrued liabilities at december 31 , 2002 , was $ 13.8 million , this uncommitted line matures on july 31 , 2003 . there were or $ 8.5 million net of taxes , which is deferred in other no borrowings under this uncommitted line of credit as of comprehensive income and is expected to be reclassified to december 31 , 2002 . earnings over the next two years , of which , $ 7.7 million , or the company has a $ 20 million uncommitted revolving $ 4.8 million , net of taxes , is expected to be reclassified to unsecured line of credit . the purpose of this line of credit is earnings over the next twelve months . to support short-term working capital needs of the company . the pricing is based upon money market rates . the agree- 9 . capital stock and earnings per share ment for this uncommitted unsecured line of credit contains as discussed in note 14 , all of the shares of company customary covenants , none of which are considered restrictive common stock were distributed at the distribution by the to the operation of the business . this uncommitted line former parent to its stockholders in the form of a dividend matures on july 31 , 2003 . there were no borrowings under of one share of company common stock , and the associated this uncommitted line of credit as of december 31 , 2002 . preferred stock purchase right , for every ten shares of the company was in compliance with all covenants common stock of the former parent . in july 2001 the board under all three of the uncommitted credit facilities as of of directors of the company adopted a rights agreement december 31 , 2002 . the company had no long-term debt intended to have anti-takeover effects . under this agreement as of december 31 , 2002 . one right attaches to each share of company common stock . outstanding debt as of december 31 , 2002 and 2001 , the rights will not become exercisable until the earlier of : consist of the following ( in millions ) : a ) the company learns that a person or group acquired , or 2002 2001 obtained the right to acquire , beneficial ownership of securi- credit facility $ 156.2 $ 358.2 ties representing more than 20 percent of the shares of uncommitted credit facilities 0.5 5.7 company common stock then outstanding , or b ) such date , if any , as may be designated by the board of directorstotal debt $ 156.7 $ 363.9 following the commencement of , or first public disclosure of the company paid $ 13.0 million and $ 4.6 million in an intention to commence , a tender offer or exchange offer interest charges during 2002 and 2001 , respectively. .
Question: what was the net change in millions of total debt from 2001 to 2002?
Answer: | -207.2 |
FINQA4334 | Please answer the given financial question based on the context.
Context: the relative percentages of operating companies income ( loss ) attributable to each reportable segment and the all other category were as follows: .
||2016|2015|2014|
|smokeable products|86.2% ( 86.2 % )|87.4% ( 87.4 % )|87.2% ( 87.2 % )|
|smokeless products|13.1|12.8|13.4|
|wine|1.8|1.8|1.7|
|all other|-1.1 ( 1.1 )|-2.0 ( 2.0 )|-2.3 ( 2.3 )|
|total|100.0% ( 100.0 % )|100.0% ( 100.0 % )|100.0% ( 100.0 % )|
for items affecting the comparability of the relative percentages of operating companies income ( loss ) attributable to each reportable segment , see note 16 . narrative description of business portions of the information called for by this item are included in operating results by business segment in item 7 . management 2019s discussion and analysis of financial condition and results of operations of this annual report on form 10-k ( 201citem 7 201d ) . tobacco space altria group , inc . 2019s tobacco operating companies include pm usa , usstc and other subsidiaries of ust , middleton , nu mark and nat sherman . altria group distribution company provides sales , distribution and consumer engagement services to altria group , inc . 2019s tobacco operating companies . the products of altria group , inc . 2019s tobacco subsidiaries include smokeable tobacco products , consisting of cigarettes manufactured and sold by pm usa and nat sherman , machine- made large cigars and pipe tobacco manufactured and sold by middleton and premium cigars sold by nat sherman ; smokeless tobacco products manufactured and sold by usstc ; and innovative tobacco products , including e-vapor products manufactured and sold by nu mark . cigarettes : pm usa is the largest cigarette company in the united states , with total cigarette shipment volume in the united states of approximately 122.9 billion units in 2016 , a decrease of 2.5% ( 2.5 % ) from 2015 . marlboro , the principal cigarette brand of pm usa , has been the largest-selling cigarette brand in the united states for over 40 years . nat sherman sells substantially all of its super-premium cigarettes in the united states . cigars : middleton is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco to customers , substantially all of which are located in the united states . middleton sources a portion of its cigars from an importer through a third-party contract manufacturing arrangement . total shipment volume for cigars was approximately 1.4 billion units in 2016 , an increase of 5.9% ( 5.9 % ) from 2015 . black & mild is the principal cigar brand of middleton . nat sherman sources its premium cigars from importers through third-party contract manufacturing arrangements and sells substantially all of its cigars in the united states . smokeless tobacco products : usstc is the leading producer and marketer of moist smokeless tobacco ( 201cmst 201d ) products . the smokeless products segment includes the premium brands , copenhagen and skoal , and value brands , red seal and husky . substantially all of the smokeless tobacco products are manufactured and sold to customers in the united states . total smokeless products shipment volume was 853.5 million units in 2016 , an increase of 4.9% ( 4.9 % ) from 2015 . innovative tobacco products : nu mark participates in the e-vapor category and has developed and commercialized other innovative tobacco products . in addition , nu mark sources the production of its e-vapor products through overseas contract manufacturing arrangements . in 2013 , nu mark introduced markten e-vapor products . in april 2014 , nu mark acquired the e-vapor business of green smoke , inc . and its affiliates ( 201cgreen smoke 201d ) , which began selling e-vapor products in 2009 . for a further discussion of the acquisition of green smoke , see note 3 . acquisition of green smoke to the consolidated financial statements in item 8 ( 201cnote 3 201d ) . in december 2013 , altria group , inc . 2019s subsidiaries entered into a series of agreements with philip morris international inc . ( 201cpmi 201d ) pursuant to which altria group , inc . 2019s subsidiaries provide an exclusive license to pmi to sell nu mark 2019s e-vapor products outside the united states , and pmi 2019s subsidiaries provide an exclusive license to altria group , inc . 2019s subsidiaries to sell two of pmi 2019s heated tobacco product platforms in the united states . further , in july 2015 , altria group , inc . announced the expansion of its strategic framework with pmi to include a joint research , development and technology-sharing agreement . under this agreement , altria group , inc . 2019s subsidiaries and pmi will collaborate to develop e-vapor products for commercialization in the united states by altria group , inc . 2019s subsidiaries and in markets outside the united states by pmi . this agreement also provides for exclusive technology cross licenses , technical information sharing and cooperation on scientific assessment , regulatory engagement and approval related to e-vapor products . in the fourth quarter of 2016 , pmi submitted a modified risk tobacco product ( 201cmrtp 201d ) application for an electronically heated tobacco product with the united states food and drug administration 2019s ( 201cfda 201d ) center for tobacco products and announced that it plans to file its corresponding pre-market tobacco product application during the first quarter of 2017 . the fda must determine whether to accept the applications for substantive review . upon regulatory authorization by the fda , altria group , inc . 2019s subsidiaries will have an exclusive license to sell this heated tobacco product in the united states . distribution , competition and raw materials : altria group , inc . 2019s tobacco subsidiaries sell their tobacco products principally to wholesalers ( including distributors ) , large retail organizations , including chain stores , and the armed services . the market for tobacco products is highly competitive , characterized by brand recognition and loyalty , with product quality , taste , price , product innovation , marketing , packaging and distribution constituting the significant methods of competition . promotional activities include , in certain instances and where .
Question: what would total smokeless products shipment volume be in 2017 with the same growth rate as 2016 , in billions?
Answer: | 853.549 |
FINQA4335 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries management's financial discussion and analysis other income ( deductions ) changed from $ 47.6 million in 2002 to ( $ 36.0 million ) in 2003 primarily due to a decrease in "miscellaneous - net" as a result of a $ 107.7 million accrual in the second quarter of 2003 for the loss that would be associated with a final , non-appealable decision disallowing abeyed river bend plant costs . see note 2 to the consolidated financial statements for more details regarding the river bend abeyed plant costs . the decrease was partially offset by an increase in interest and dividend income as a result of the implementation of sfas 143 . interest on long-term debt decreased from $ 462.0 million in 2002 to $ 433.5 million in 2003 primarily due to the redemption and refinancing of long-term debt . non-utility nuclear following are key performance measures for non-utility nuclear: .
||2004|2003|2002|
|net mw in operation at december 31|4058|4001|3955|
|average realized price per mwh|$ 41.26|$ 39.38|$ 40.07|
|generation in gwh for the year|32524|32379|29953|
|capacity factor for the year|92% ( 92 % )|92% ( 92 % )|93% ( 93 % )|
2004 compared to 2003 the decrease in earnings for non-utility nuclear from $ 300.8 million to $ 245.0 million was primarily due to the $ 154.5 million net-of-tax cumulative effect of a change in accounting principle that increased earnings in the first quarter of 2003 upon implementation of sfas 143 . see "critical accounting estimates - sfas 143" below for discussion of the implementation of sfas 143 . earnings before the cumulative effect of accounting change increased by $ 98.7 million primarily due to the following : 2022 lower operation and maintenance expenses , which decreased from $ 681.8 million in 2003 to $ 595.7 million in 2004 , primarily resulting from charges recorded in 2003 in connection with the voluntary severance program ; 2022 higher revenues , which increased from $ 1.275 billion in 2003 to $ 1.342 billion in 2004 , primarily resulting from higher contract pricing . the addition of a support services contract for the cooper nuclear station and increased generation in 2004 due to power uprates completed in 2003 and fewer planned and unplanned outages in 2004 also contributed to the higher revenues ; and 2022 miscellaneous income resulting from a reduction in the decommissioning liability for a plant , as discussed in note 8 to the consolidated financial statements . partially offsetting this increase were the following : 2022 higher income taxes , which increased from $ 88.6 million in 2003 to $ 142.6 million in 2004 ; and 2022 higher depreciation expense , which increased from $ 34.3 million in 2003 to $ 48.9 million in 2004 , due to additions to plant in service . 2003 compared to 2002 the increase in earnings for non-utility nuclear from $ 200.5 million to $ 300.8 million was primarily due to the $ 154.5 million net-of-tax cumulative effect of a change in accounting principle recognized in the first quarter of 2003 upon implementation of sfas 143 . see "critical accounting estimates - sfas 143" below for discussion of the implementation of sfas 143 . income before the cumulative effect of accounting change decreased by $ 54.2 million . the decrease was primarily due to $ 83.0 million ( $ 50.6 million net-of-tax ) of charges recorded in connection with the voluntary severance program . except for the effect of the voluntary severance program , operation and maintenance expenses in 2003 per mwh of generation were in line with 2002 operation and maintenance expenses. .
Question: what is the growth rate in generated gwh per year in 2004 compare to 2003?
Answer: | 0.00448 |
FINQA4336 | Please answer the given financial question based on the context.
Context: equity compensation plan information the following table presents the equity securities available for issuance under our equity compensation plans as of december 31 , 2013 . equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights ( 2 ) number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( a ) ( b ) ( c ) equity compensation plans approved by security holders 2956907 $ 35.01 2786760 equity compensation plans not approved by security holders ( 3 ) 2014 2014 2014 .
|plan category|number of securities to be issued upon exercise of outstanding options warrants and rights ( 1 ) ( a ) ( b )|weighted-average exercise price of outstanding optionswarrants and rights ( 2 )|number of securities remaining available for future issuance under equity compensation plans ( excluding securitiesreflected in column ( a ) ) ( c )|
|equity compensation plans approved by security holders|2956907|$ 35.01|2786760|
|equity compensation plans not approved by security holders ( 3 )|2014|2014|2014|
|total|2956907|$ 35.01|2786760|
( 1 ) includes grants made under the huntington ingalls industries , inc . 2012 long-term incentive stock plan ( the "2012 plan" ) , which was approved by our stockholders on may 2 , 2012 , and the huntington ingalls industries , inc . 2011 long-term incentive stock plan ( the "2011 plan" ) , which was approved by the sole stockholder of hii prior to its spin-off from northrop grumman corporation . of these shares , 818723 were subject to stock options , 1002217 were subject to outstanding restricted performance stock rights , 602400 were restricted stock rights , and 63022 were stock rights granted under the 2011 plan . in addition , this number includes 24428 stock rights and 446117 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement . ( 2 ) this is the weighted average exercise price of the 818723 outstanding stock options only . ( 3 ) there are no awards made under plans not approved by security holders . item 13 . certain relationships and related transactions , and director independence information as to certain relationships and related transactions and director independence will be incorporated herein by reference to the proxy statement for our 2014 annual meeting of stockholders to be filed within 120 days after the end of the company 2019s fiscal year . item 14 . principal accountant fees and services information as to principal accountant fees and services will be incorporated herein by reference to the proxy statement for our 2014 annual meeting of stockholders to be filed within 120 days after the end of the company 2019s fiscal year. .
Question: what is the combined number of equity compensation plans approved by security holders
Answer: | 5743667.0 |
FINQA4337 | Please answer the given financial question based on the context.
Context: dish network corporation notes to consolidated financial statements - continued december 31 , 2008 , we recorded $ 6 million in interest and penalty expense to earnings . accrued interest and penalties was $ 7 million at december 31 , 2008 . 11 . acquisition of sling media , inc . during october 2007 , we acquired all remaining outstanding shares ( 94% ( 94 % ) ) of sling media , inc . ( 201csling media 201d ) for cash consideration of $ 342 million , including direct transaction costs of $ 8 million . we also exchanged sling media employee stock options for our options to purchase approximately 342000 of our common stock valued at approximately $ 16 million . sling media , a leading innovator in the digital- lifestyle space , was acquired to allow us to offer new products and services to our subscribers . on january 1 , 2008 , sling media was distributed to echostar in the spin-off . this transaction was accounted for as a purchase business combination in accordance with statement of financial accounting standards no . 141 , 201cbusiness combinations 201d ( 201csfas 141 201d ) . the purchase consideration was allocated based on the fair values of identifiable tangible and intangible assets and liabilities as follows : purchase price allocation ( in thousands ) .
||final purchase price allocation ( in thousands )|
|tangible assets|$ 28779|
|prepaid compensation costs|11844|
|other noncurrent assets ( 1 )|-9541 ( 9541 )|
|acquisition intangibles|61800|
|in-process research and development|22200|
|goodwill|256917|
|total assets acquired|$ 371999|
|current liabilities|-19233 ( 19233 )|
|long-term liabilities ( 2 )|-10922 ( 10922 )|
|net assets acquired|$ 341844|
( 1 ) represents the elimination of our previously recorded 6% ( 6 % ) non-controlling interest in sling media . ( 2 ) includes $ 9 million deferred tax liability related to the acquisition intangibles . the total $ 62 million of acquired intangible assets resulting from the sling media transaction is comprised of technology-based intangibles and trademarks totaling approximately $ 34 million with estimated weighted-average useful lives of seven years , reseller relationships totaling approximately $ 24 million with estimated weighted-average useful lives of three years and contract-based intangibles totaling approximately $ 4 million with estimated weighted-average useful lives of four years . the in-process research and development costs of $ 22 million were expensed to general and administrative expense upon acquisition in accordance with sfas 141 . the goodwill recorded as a result of the acquisition is not deductible for income tax purposes . the business combination did not have a material impact on our results of operations for the year ended december 31 , 2007 and would not have materially impacted our results of operations for these periods had the business combination occurred on january 1 , 2007 . further , the business combination would not have had a material impact on our results of operations for the comparable period in 2006 had the business combination occurred on january 1 , 2006. .
Question: what percentage of total assets acquired where comprised of goodwill?
Answer: | 0.69064 |
FINQA4338 | Please answer the given financial question based on the context.
Context: stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor 2019s 500 index and the standard & poor 2019s retail index . the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on december 31 , 2011 , and that any dividends have been reinvested . the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock . comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p retail index company/index december 31 , december 29 , december 28 , january 3 , january 2 , december 31 .
|company/index|december 31 2011|december 29 2012|december 28 2013|january 3 2015|january 2 2016|december 31 2016|
|advance auto parts|$ 100.00|$ 102.87|$ 158.46|$ 228.88|$ 217.49|$ 244.64|
|s&p 500 index|100.00|114.07|152.98|174.56|177.01|198.18|
|s&p retail index|100.00|122.23|178.55|196.06|245.31|256.69|
.
Question: what is the rate of return on an investment in advance auto parts from 2015 to 2016?
Answer: | -0.04976 |
FINQA4339 | Please answer the given financial question based on the context.
Context: interest expense 2013 interest expense increased in 2014 versus 2013 due to an increased weighted- average debt level of $ 10.8 billion in 2014 from $ 9.6 billion in 2013 , which more than offset the impact of the lower effective interest rate of 5.3% ( 5.3 % ) in 2014 versus 5.7% ( 5.7 % ) in 2013 . interest expense decreased in 2013 versus 2012 due to a lower effective interest rate of 5.7% ( 5.7 % ) in 2013 versus 6.0% ( 6.0 % ) in 2012 . the increase in the weighted-average debt level to $ 9.6 billion in 2013 from $ 9.1 billion in 2012 partially offset the impact of the lower effective interest rate . income taxes 2013 higher pre-tax income increased income taxes in 2014 compared to 2013 . our effective tax rate for 2014 was 37.9% ( 37.9 % ) compared to 37.7% ( 37.7 % ) in 2013 . higher pre-tax income increased income taxes in 2013 compared to 2012 . our effective tax rate for 2013 was 37.7% ( 37.7 % ) compared to 37.6% ( 37.6 % ) in 2012 . other operating/performance and financial statistics we report a number of key performance measures weekly to the association of american railroads ( aar ) . we provide this data on our website at www.up.com/investor/aar-stb_reports/index.htm . operating/performance statistics railroad performance measures are included in the table below : 2014 2013 2012 % ( % ) change 2014 v 2013 % ( % ) change 2013 v 2012 .
||2014|2013|2012|% ( % ) change 2014 v 2013|% ( % ) change2013 v 2012|
|average train speed ( miles per hour )|24.0|26.0|26.5|( 8 ) % ( % )|( 2 ) % ( % )|
|average terminal dwell time ( hours )|30.3|27.1|26.2|12 % ( % )|3 % ( % )|
|gross ton-miles ( billions )|1014.9|949.1|959.3|7 % ( % )|( 1 ) % ( % )|
|revenue ton-miles ( billions )|549.6|514.3|521.1|7 % ( % )|( 1 ) % ( % )|
|operating ratio|63.5|66.1|67.8|( 2.6 ) pts|( 1.7 ) pts|
|employees ( average )|47201|46445|45928|2 % ( % )|1 % ( % )|
average train speed 2013 average train speed is calculated by dividing train miles by hours operated on our main lines between terminals . average train speed , as reported to the association of american railroads , decreased 8% ( 8 % ) in 2014 versus 2013 . the decline was driven by a 7% ( 7 % ) volume increase , a major infrastructure project in fort worth , texas and inclement weather , including flooding in the midwest in the second quarter and severe weather conditions in the first quarter that impacted all major u.s . and canadian railroads . average train speed decreased 2% ( 2 % ) in 2013 versus 2012 . the decline was driven by severe weather conditions and shifts of traffic to sections of our network with higher utilization . average terminal dwell time 2013 average terminal dwell time is the average time that a rail car spends at our terminals . lower average terminal dwell time improves asset utilization and service . average terminal dwell time increased 12% ( 12 % ) in 2014 compared to 2013 , caused by higher volumes and inclement weather . average terminal dwell time increased 3% ( 3 % ) in 2013 compared to 2012 , primarily due to growth of manifest traffic which requires more time in terminals for switching cars and building trains . gross and revenue ton-miles 2013 gross ton-miles are calculated by multiplying the weight of loaded and empty freight cars by the number of miles hauled . revenue ton-miles are calculated by multiplying the weight of freight by the number of tariff miles . gross ton-miles , revenue ton-miles and carloadings all increased 7% ( 7 % ) in 2014 compared to 2013 . gross ton-miles and revenue ton-miles declined 1% ( 1 % ) in 2013 compared to 2012 and carloads remained relatively flat driven by declines in coal and agricultural products offset by growth in chemical , autos and industrial products . changes in commodity mix drove the year-over-year variances between gross ton- miles , revenue ton-miles and carloads. .
Question: holding weighted- average debt level as the same as 2013what would the interest expense be in 2014 in billions?
Answer: | 0.5088 |
FINQA4340 | Please answer the given financial question based on the context.
Context: off-balance-sheet arrangements we have a number of off-balance-sheet investments , including joint ven- tures and debt and preferred equity investments . these investments all have varying ownership structures . substantially all of our joint venture arrangements are accounted for under the equity method of accounting as we have the ability to exercise significant influence , but not control over the operating and financial decisions of these joint venture arrange- ments . our off-balance-sheet arrangements are discussed in note a0 5 , 201cdebt and preferred equity investments 201d and note a0 6 , 201cinvestments in unconsolidated joint ventures 201d in the accompanying consolidated finan- cial statements . additional information about the debt of our unconsoli- dated joint ventures is included in 201ccontractual obligations 201d below . capital expenditures we estimate that , for the year ending december a031 , 2011 , we will incur approximately $ 120.5 a0 million of capital expenditures , which are net of loan reserves ( including tenant improvements and leasing commis- sions ) , on existing wholly-owned properties , and that our share of capital expenditures at our joint venture properties , net of loan reserves , will be approximately $ 23.4 a0million . we expect to fund these capital expen- ditures with operating cash flow , additional property level mortgage financings and cash on hand . future property acquisitions may require substantial capital investments for refurbishment and leasing costs . we expect that these financing requirements will be met in a similar fashion . we believe that we will have sufficient resources to satisfy our capital needs during the next 12-month period . thereafter , we expect our capital needs will be met through a combination of cash on hand , net cash provided by operations , borrowings , potential asset sales or addi- tional equity or debt issuances . above provides that , except to enable us to continue to qualify as a reit for federal income tax purposes , we will not during any four consecu- tive fiscal quarters make distributions with respect to common stock or other equity interests in an aggregate amount in excess of 95% ( 95 % ) of funds from operations for such period , subject to certain other adjustments . as of december a0 31 , 2010 and 2009 , we were in compliance with all such covenants . market rate risk we are exposed to changes in interest rates primarily from our floating rate borrowing arrangements . we use interest rate derivative instruments to manage exposure to interest rate changes . a hypothetical 100 basis point increase in interest rates along the entire interest rate curve for 2010 and 2009 , would increase our annual interest cost by approximately $ 11.0 a0mil- lion and $ 15.2 a0million and would increase our share of joint venture annual interest cost by approximately $ 6.7 a0million and $ 6.4 a0million , respectively . we recognize all derivatives on the balance sheet at fair value . derivatives that are not hedges must be adjusted to fair value through income . if a derivative is a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earnings , or recognized in other comprehensive income until the hedged item is recognized in earnings . the ineffective portion of a deriva- tive 2019s change in fair value is recognized immediately in earnings . approximately $ 4.1 a0billion of our long-term debt bore interest at fixed rates , and therefore the fair value of these instruments is affected by changes in the market interest rates . the interest rate on our variable rate debt and joint venture debt as of december a031 , 2010 ranged from libor plus 75 basis points to libor plus 400 basis points . contractual obligations combined aggregate principal maturities of mortgages and other loans payable , our 2007 unsecured revolving credit facility , senior unsecured notes ( net of discount ) , trust preferred securities , our share of joint venture debt , including as-of-right extension options , estimated interest expense ( based on weighted average interest rates for the quarter ) , and our obligations under our capital and ground leases , as of december a031 , 2010 , are as follows ( in thousands ) : .
||2011|2012|2013|2014|2015|thereafter|total|
|property mortgages|$ 246615|$ 143646|$ 656863|$ 208025|$ 260433|$ 1884885|$ 3400467|
|revolving credit facility|2014|650000|2014|2014|2014|2014|650000|
|trust preferred securities|2014|2014|2014|2014|2014|100000|100000|
|senior unsecured notes|84823|123171|2014|98578|657|793316|1100545|
|capital lease|1555|1555|1555|1555|1593|44056|51869|
|ground leases|28929|28179|28179|28179|28179|552421|694066|
|estimated interest expense|265242|245545|221161|197128|177565|355143|1461784|
|joint venture debt|207738|61491|41415|339184|96786|857305|1603919|
|total|$ 834902|$ 1253587|$ 949173|$ 872649|$ 565213|$ 4587126|$ 9062650|
48 sl green realty corp . 2010 annual report management 2019s discussion and analysis of financial condition and results of operations .
Question: what was the total liability in millions for capital lease and ground leases?
Answer: | 745935.0 |
FINQA4341 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements ( continued ) note 1 2014summary of significant accounting policies ( continued ) asset retirement obligations the company records obligations associated with the retirement of tangible long-lived assets and the associated asset retirement costs in accordance with sfas no . 143 , accounting for asset retirement obligations . the company reviews legal obligations associated with the retirement of long-lived assets that result from the acquisition , construction , development and/or normal use of the assets . if it is determined that a legal obligation exists , the fair value of the liability for an asset retirement obligation is recognized in the period in which it is incurred if a reasonable estimate of fair value can be made . the fair value of the liability is added to the carrying amount of the associated asset and this additional carrying amount is depreciated over the life of the asset . the difference between the gross expected future cash flow and its present value is accreted over the life of the related lease as an operating expense . all of the company 2019s existing asset retirement obligations are associated with commitments to return property subject to operating leases to original condition upon lease termination . the following table reconciles changes in the company 2019s asset retirement liabilities for fiscal 2004 and 2005 ( in millions ) : .
|asset retirement liability as of september 27 2003|$ 7.2|
|additional asset retirement obligations recognized|0.5|
|accretion recognized|0.5|
|asset retirement liability as of september 25 2004|$ 8.2|
|additional asset retirement obligations recognized|2.8|
|accretion recognized|0.7|
|asset retirement liability as of september 24 2005|$ 11.7|
cumulative effects of accounting changes in 2003 , the company recognized a net favorable cumulative effect type adjustment of approximately $ 1 million from the adoption of sfas no . 150 , accounting for certain financial instruments with characteristic of both liabilities and equity and sfas no . 143 . long-lived assets including goodwill and other acquired intangible assets the company reviews property , plant , and equipment and certain identifiable intangibles , excluding goodwill , for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable . recoverability of these assets is measured by comparison of its carrying amount to future undiscounted cash flows the assets are expected to generate . if property , plant , and equipment and certain identifiable intangibles are considered to be impaired , the impairment to be recognized equals the amount by which the carrying value of the assets exceeds its fair market value . for the three fiscal years ended september 24 , 2005 , the company had no material impairment of its long-lived assets , except for the impairment of certain assets in connection with the restructuring actions described in note 5 of these notes to consolidated financial statements . sfas no . 142 , goodwill and other intangible assets requires that goodwill and intangible assets with indefinite useful lives should not be amortized but rather be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that they may be impaired . the company performs its goodwill impairment tests on or about august 30 of each year . the company did not recognize any goodwill or intangible asset impairment charges in 2005 , 2004 , or 2003 . the company established reporting units based on its current reporting structure . for purposes of testing goodwill for .
Question: excluding 2005 accretion expenses . what would the asset retirement liability equal as of september 24 2005?
Answer: | 11.0 |
FINQA4342 | Please answer the given financial question based on the context.
Context: executive deferred compensation plan for the company 2019s executives and members of the board of directors , the company adopted the illumina , inc . deferred compensation plan ( the plan ) that became effective january 1 , 2008 . eligible participants can contribute up to 80% ( 80 % ) of their base salary and 100% ( 100 % ) of all other forms of compensation into the plan , including bonus , commission and director fees . the company has agreed to credit the participants 2019 contributions with earnings that reflect the performance of certain independent investment funds . on a discretionary basis , the company may also make employer contributions to participant accounts in any amount determined by the company . the vesting schedules of employer contributions are at the sole discretion of the compensation committee . however , all employer contributions shall become 100% ( 100 % ) vested upon the occurrence of the participant 2019s disability , death or retirement or a change in control of the company . the benefits under this plan are unsecured . participants are generally eligible to receive payment of their vested benefit at the end of their elected deferral period or after termination of their employment with the company for any reason or at a later date to comply with the restrictions of section 409a . as of december 28 , 2008 , no employer contributions were made to the plan . in january 2008 , the company also established a rabbi trust for the benefit of its directors and executives under the plan . in accordance with fasb interpretation ( fin ) no . 46 , consolidation of variable interest entities , an interpretation of arb no . 51 , and eitf 97-14 , accounting for deferred compensation arrangements where amounts earned are held in a rabbi trust and invested , the company has included the assets of the rabbi trust in its consolidated balance sheet since the trust 2019s inception . as of december 28 , 2008 , the assets of the trust and liabilities of the company were $ 1.3 million . the assets and liabilities are classified as other assets and accrued liabilities , respectively , on the company 2019s balance sheet as of december 28 , 2008 . changes in the values of the assets held by the rabbi trust accrue to the company . 14 . segment information , geographic data and significant customers during the first quarter of 2008 , the company reorganized its operating structure into a newly created life sciences business unit , which includes all products and services related to the research market , namely the beadarray , beadxpress and sequencing product lines . the company also created a diagnostics business unit to focus on the emerging opportunity in molecular diagnostics . for the year ended december 28 , 2008 , the company had limited activity related to the diagnostics business unit , and operating results were reported on an aggregate basis to the chief operating decision maker of the company , the chief executive officer . in accordance with sfas no . 131 , disclosures about segments of an enterprise and related information , the company operated in one reportable segment for the year ended december 28 , 2008 . the company had revenue in the following regions for the years ended december 28 , 2008 , december 30 , 2007 and december 31 , 2006 ( in thousands ) : year ended december 28 , year ended december 30 , year ended december 31 .
||year ended december 28 2008|year ended december 30 2007|year ended december 31 2006|
|united states|$ 280064|$ 207692|$ 103043|
|united kingdom|67973|34196|22840|
|other european countries|127397|75360|32600|
|asia-pacific|72740|35155|15070|
|other markets|25051|14396|11033|
|total|$ 573225|$ 366799|$ 184586|
net revenues are attributable to geographic areas based on the region of destination . illumina , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: for the year ended december 28 , 2008 what was the percent of the united states revenues to the total
Answer: | 0.48858 |
FINQA4343 | Please answer the given financial question based on the context.
Context: table of contents 2022 rugby is a vertical retail format featuring an aspirational lifestyle collection of apparel and accessories for men and women . the brand is characterized by a youthful , preppy attitude which resonates throughout the line and the store experience . in addition to generating sales of our products , our worldwide full-price stores set , reinforce and capitalize on the image of our brands . our stores range in size from approximately 800 to over 38000 square feet . these full-price stores are situated in major upscale street locations and upscale regional malls , generally in large urban markets . we generally lease our stores for initial periods ranging from 5 to 10 years with renewal options . factory retail stores we extend our reach to additional consumer groups through our 191 polo ralph lauren factory stores worldwide . our factory stores are generally located in outlet centers . we generally lease our stores for initial periods ranging from 5 to 10 years with renewal options . during fiscal 2011 , we added 19 new polo ralph lauren factory stores , net , and assumed 2 factory stores in connection with the south korea licensed operations acquisition ( see 201crecent developments 201d for further discussion ) . we operated the following factory retail stores as of april 2 , 2011 : location ralph lauren .
|location|polo ralph lauren|
|united states|140|
|europe|31|
|asia ( a )|20|
|total|191|
( a ) includes japan , south korea , china , hong kong , indonesia , malaysia , the philippines , singapore , taiwan and thailand . 2022 polo ralph lauren domestic factory stores offer selections of our menswear , womenswear , children 2019s apparel , accessories , home furnishings and fragrances . ranging in size from approximately 2500 to 20000 square feet , with an average of approximately 9500 square feet , these stores are principally located in major outlet centers in 37 states and puerto rico . 2022 europe factory stores offer selections of our menswear , womenswear , children 2019s apparel , accessories , home furnishings and fragrances . ranging in size from approximately 2300 to 10500 square feet , with an average of approximately 6000 square feet , these stores are located in 11 countries , principally in major outlet centers . 2022 asia factory stores offer selections of our menswear , womenswear , children 2019s apparel , accessories and fragrances . ranging in size from approximately 1000 to 12000 square feet , with an average of approximately 5000 square feet , these stores are primarily located throughout japan and in or near other major cities within the asia-pacific region , principally in major outlet centers . factory stores obtain products from our suppliers , our product licensing partners and our retail and e-commerce stores . concessions-based shop-within-shops in asia , the terms of trade for shop-within-shops are largely conducted on a concessions basis , whereby inventory continues to be owned by us ( not the department store ) until ultimate sale to the end consumer and the salespeople involved in the sales transaction are generally our employees . as of april 2 , 2011 , we had 510 concessions-based shop-within-shops at approximately 236 retail locations dedicated to our ralph lauren-branded products , primarily in asia , including 178 concessions-based shop-in-shops related to the south korea licensed operations acquisition . the size of our concessions-based shop-within-shops typically ranges from approximately 180 to 3600 square feet . we share in the cost of these shop-within-shops with our department store partners. .
Question: what percentage of factory retail stores as of april 2 , 2011 is europe?
Answer: | 0.1623 |
FINQA4344 | Please answer the given financial question based on the context.
Context: table of contents the aggregate changes in the balance of gross unrecognized tax benefits , which excludes interest and penalties , for the three years ended september 25 , 2010 , is as follows ( in millions ) : the company includes interest and penalties related to unrecognized tax benefits within the provision for income taxes . as of september 25 , 2010 and september 26 , 2009 , the total amount of gross interest and penalties accrued was $ 247 million and $ 291 million , respectively , which is classified as non-current liabilities in the consolidated balance sheets . in 2010 and 2009 , the company recognized an interest benefit of $ 43 million and interest expense of $ 64 million , respectively , in connection with tax matters . the company is subject to taxation and files income tax returns in the u.s . federal jurisdiction and in many state and foreign jurisdictions . for u.s . federal income tax purposes , all years prior to 2004 are closed . the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments . the company has contested certain of these adjustments through the irs appeals office . the irs is currently examining the years 2007 through 2009 . during the third quarter of 2010 , the company reached a tax settlement with the irs for the years 2002 through 2003 . in connection with the settlement , the company reduced its gross unrecognized tax benefits by $ 100 million and recognized a $ 52 million tax benefit in the third quarter of 2010 . in addition , the company is also subject to audits by state , local and foreign tax authorities . in major states and major foreign jurisdictions , the years subsequent to 1988 and 2001 , respectively , generally remain open and could be subject to examination by the taxing authorities . management believes that an adequate provision has been made for any adjustments that may result from tax examinations . however , the outcome of tax audits cannot be predicted with certainty . if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income tax in the period such resolution occurs . although timing of the resolution and/or closure of audits is not certain , the company does not believe it is reasonably possible that its unrecognized tax benefits would materially change in the next 12 months . note 7 2013 shareholders 2019 equity and stock-based compensation preferred stock the company has five million shares of authorized preferred stock , none of which is issued or outstanding . under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock . comprehensive income comprehensive income consists of two components , net income and other comprehensive income . other comprehensive income refers to revenue , expenses , gains and losses that under gaap are recorded as an element of shareholders 2019 equity but are excluded from net income . the company 2019s other comprehensive income consists .
||2010|2009|2008|
|beginning balance|$ 971|506|$ 475|
|increases related to tax positions taken during a prior year|61|341|27|
|decreases related to tax positions taken during a prior year|-224 ( 224 )|-24 ( 24 )|-70 ( 70 )|
|increases related to tax positions taken during the current year|240|151|85|
|decreases related to settlements with taxing authorities|-102 ( 102 )|0|0|
|decreases related to expiration of statute of limitations|-3 ( 3 )|-3 ( 3 )|-11 ( 11 )|
|ending balance|$ 943|$ 971|$ 506|
.
Question: what was the smallest decrease related to expiration of statute of limitations for the three year period , in millions?
Answer: | -11.0 |
FINQA4345 | Please answer the given financial question based on the context.
Context: utilized . in accordance with sfas no . 144 , accounting for the impairment or disposal of long-lived assets , a non-cash impairment charge of $ 4.1 million was recorded in the second quarter of fiscal 2008 for the excess machinery . this charge is included as a separate line item in the company 2019s consolidated statement of operations . there was no change to useful lives and related depreciation expense of the remaining assets as the company believes these estimates are currently reflective of the period the assets will be used in operations . 7 . warranties the company generally provides a one-year warranty on sequencing , genotyping and gene expression systems . at the time revenue is recognized , the company establishes an accrual for estimated warranty expenses associated with system sales . this expense is recorded as a component of cost of product revenue . estimated warranty expenses associated with extended maintenance contracts are recorded as cost of revenue ratably over the term of the maintenance contract . changes in the company 2019s reserve for product warranties from january 1 , 2006 through december 28 , 2008 are as follows ( in thousands ) : .
|balance as of january 1 2006|$ 751|
|additions charged to cost of revenue|1379|
|repairs and replacements|-1134 ( 1134 )|
|balance as of december 31 2006|996|
|additions charged to cost of revenue|4939|
|repairs and replacements|-2219 ( 2219 )|
|balance as of december 30 2007|3716|
|additions charged to cost of revenue|13044|
|repairs and replacements|-8557 ( 8557 )|
|balance as of december 28 2008|$ 8203|
8 . convertible senior notes on february 16 , 2007 , the company issued $ 400.0 million principal amount of 0.625% ( 0.625 % ) convertible senior notes due 2014 ( the notes ) , which included the exercise of the initial purchasers 2019 option to purchase up to an additional $ 50.0 million aggregate principal amount of notes . the net proceeds from the offering , after deducting the initial purchasers 2019 discount and offering expenses , were $ 390.3 million . the company will pay 0.625% ( 0.625 % ) interest per annum on the principal amount of the notes , payable semi-annually in arrears in cash on february 15 and august 15 of each year . the company made interest payments of $ 1.3 million and $ 1.2 million on february 15 , 2008 and august 15 , 2008 , respectively . the notes mature on february 15 , the notes will be convertible into cash and , if applicable , shares of the company 2019s common stock , $ 0.01 par value per share , based on a conversion rate , subject to adjustment , of 45.8058 shares per $ 1000 principal amount of notes ( which represents a conversion price of $ 21.83 per share ) , only in the following circumstances and to the following extent : ( 1 ) during the five business-day period after any five consecutive trading period ( the measurement period ) in which the trading price per note for each day of such measurement period was less than 97% ( 97 % ) of the product of the last reported sale price of the company 2019s common stock and the conversion rate on each such day ; ( 2 ) during any calendar quarter after the calendar quarter ending march 30 , 2007 , if the last reported sale price of the company 2019s common stock for 20 or more trading days in a period of 30 consecutive trading days ending on the last trading day of the immediately illumina , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what was the percentage change in the reserve for product warranties from december 30 2007 to december 28 2008?
Answer: | 1.20748 |
FINQA4346 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) future minimum rental receipts expected from customers under non-cancelable operating lease agreements in effect at december 31 , 2006 are as follows ( in thousands ) : year ending december 31 .
|2007|$ 1131677|
|2008|1127051|
|2009|1091778|
|2010|959828|
|2011|769028|
|thereafter|2305040|
|total|$ 7384402|
legal and governmental proceedings related to review of stock option granting practices and related accounting 2014on may 18 , 2006 , the company received a letter of informal inquiry from the sec division of enforcement requesting documents related to company stock option grants and stock option practices . the inquiry is focused on stock options granted to senior management and members of the company 2019s board of directors during the period 1997 to the present . the company continues to cooperate with the sec to provide the requested information and documents . on may 19 , 2006 , the company received a subpoena from the united states attorney 2019s office for the eastern district of new york for records and information relating to its stock option granting practices . the subpoena requests materials related to certain stock options granted between 1995 and the present . the company continues to cooperate with the u.s . attorney 2019s office to provide the requested information and documents . on may 26 , 2006 , a securities class action was filed in united states district court for the district of massachusetts against the company and certain of its current officers by john s . greenebaum for monetary relief . specifically , the complaint names the company , james d . taiclet , jr . and bradley e . singer as defendants and alleges that the defendants violated federal securities laws in connection with public statements made relating to the company 2019s stock option practices and related accounting . the complaint asserts claims under sections 10 ( b ) and 20 ( a ) of the securities exchange act of 1934 , as amended ( exchange act ) and sec rule 10b-5 . in december 2006 , the court appointed the steamship trade association-international longshoreman 2019s association pension fund as the lead plaintiff . on may 24 , 2006 and june 14 , 2006 , two shareholder derivative lawsuits were filed in suffolk county superior court in massachusetts by eric johnston and robert l . garber , respectively . the lawsuits were filed against certain of the company 2019s current and former officers and directors for alleged breaches of fiduciary duties and unjust enrichment in connection with the company 2019s stock option granting practices . the lawsuits also name the company as a nominal defendant . the lawsuits seek to recover the damages sustained by the company and disgorgement of all profits received with respect to the alleged backdated stock options . in october 2006 , these two lawsuits were consolidated and transferred to the court 2019s business litigation session . on june 13 , 2006 , june 22 , 2006 and august 23 , 2006 , three shareholder derivative lawsuits were filed in united states district court for the district of massachusetts by new south wales treasury corporation , as trustee for the alpha international managers trust , frank c . kalil and don holland , and leslie cramer , respectively . the lawsuits were filed against certain of the company 2019s current and former officers and directors for alleged breaches of fiduciary duties , waste of corporate assets , gross mismanagement and unjust enrichment in connection with the company 2019s stock option granting practices . the lawsuits also name the company as a nominal defendant . in december 2006 , the court consolidated these three lawsuits and appointed new south wales treasury corporation as the lead plaintiff . on february 9 , 2007 , the plaintiffs filed a consolidated .
Question: what portion of the total future minimum rental receipts is expected to be collected in the next 24 months?
Answer: | 0.0 |
FINQA4347 | Please answer the given financial question based on the context.
Context: masco corporation notes to consolidated financial statements ( continued ) t . other commitments and contingencies litigation . we are subject to claims , charges , litigation and other proceedings in the ordinary course of our business , including those arising from or related to contractual matters , intellectual property , personal injury , environmental matters , product liability , construction defect , insurance coverage , personnel and employment disputes and other matters , including class actions . we believe we have adequate defenses in these matters and that the outcome of these matters is not likely to have a material adverse effect on us . however , there is no assurance that we will prevail in these matters , and we could in the future incur judgments , enter into settlements of claims or revise our expectations regarding the outcome of these matters , which could materially impact our results of operations . in july 2012 , the company reached a settlement agreement related to the columbus drywall litigation . the company and its insulation installation companies named in the suit agreed to pay $ 75 million in return for dismissal with prejudice and full release of all claims . the company and its insulation installation companies continue to deny that the challenged conduct was unlawful and admit no wrongdoing as part of the settlement . a settlement was reached to eliminate the considerable expense and uncertainty of this lawsuit . the company recorded the settlement expense in the second quarter of 2012 and the amount was paid in the fourth quarter of 2012 . warranty . at the time of sale , the company accrues a warranty liability for the estimated cost to provide products , parts or services to repair or replace products in satisfaction of warranty obligations . during the third quarter of 2012 , a business in the other specialty products segment recorded a $ 12 million increase in expected future warranty claims resulting from the completion of an analysis prepared by the company based upon its periodic assessment of recent business unit specific operating trends including , among others , home ownership demographics , sales volumes , manufacturing quality , an analysis of recent warranty claim activity and an estimate of current costs to service anticipated claims . changes in the company 2019s warranty liability were as follows , in millions: .
||2012|2011|
|balance at january 1|$ 102|$ 107|
|accruals for warranties issued during the year|42|28|
|accruals related to pre-existing warranties|16|8|
|settlements made ( in cash or kind ) during the year|-38 ( 38 )|-38 ( 38 )|
|other net ( including currency translation )|-4 ( 4 )|-3 ( 3 )|
|balance at december 31|$ 118|$ 102|
investments . with respect to the company 2019s investments in private equity funds , the company had , at december 31 , 2012 , commitments to contribute up to $ 19 million of additional capital to such funds representing the company 2019s aggregate capital commitment to such funds less capital contributions made to date . the company is contractually obligated to make additional capital contributions to certain of its private equity funds upon receipt of a capital call from the private equity fund . the company has no control over when or if the capital calls will occur . capital calls are funded in cash and generally result in an increase in the carrying value of the company 2019s investment in the private equity fund when paid. .
Question: what was the percentage change in the company's warranty liability from 2011 to 2012?
Answer: | 0.15686 |
FINQA4348 | Please answer the given financial question based on the context.
Context: in the fourth quarter of 2002 , aes lost voting control of one of the holding companies in the cemig ownership structure . this holding company indirectly owns the shares related to the cemig investment and indirectly holds the project financing debt related to cemig . as a result of the loss of voting control , aes stopped consolidating this holding company at december 31 , 2002 . other . during the fourth quarter of 2003 , the company sold its 25% ( 25 % ) ownership interest in medway power limited ( 2018 2018mpl 2019 2019 ) , a 688 mw natural gas-fired combined cycle facility located in the united kingdom , and aes medway operations limited ( 2018 2018aesmo 2019 2019 ) , the operating company for the facility , in an aggregate transaction valued at approximately a347 million ( $ 78 million ) . the sale resulted in a gain of $ 23 million which was recorded in continuing operations . mpl and aesmo were previously reported in the contract generation segment . in the second quarter of 2002 , the company sold its investment in empresa de infovias s.a . ( 2018 2018infovias 2019 2019 ) , a telecommunications company in brazil , for proceeds of $ 31 million to cemig , an affiliated company . the loss recorded on the sale was approximately $ 14 million and is recorded as a loss on sale of assets and asset impairment expenses in the accompanying consolidated statements of operations . in the second quarter of 2002 , the company recorded an impairment charge of approximately $ 40 million , after income taxes , on an equity method investment in a telecommunications company in latin america held by edc . the impairment charge resulted from sustained poor operating performance coupled with recent funding problems at the invested company . during 2001 , the company lost operational control of central electricity supply corporation ( 2018 2018cesco 2019 2019 ) , a distribution company located in the state of orissa , india . the state of orissa appointed an administrator to take operational control of cesco . cesco is accounted for as a cost method investment . aes 2019s investment in cesco is negative . in august 2000 , a subsidiary of the company acquired a 49% ( 49 % ) interest in songas for approximately $ 40 million . the company acquired an additional 16.79% ( 16.79 % ) of songas for approximately $ 12.5 million , and the company began consolidating this entity in 2002 . songas owns the songo songo gas-to-electricity project in tanzania . in december 2002 , the company signed a sales purchase agreement to sell 100% ( 100 % ) of our ownership interest in songas . the sale of songas closed in april 2003 ( see note 4 for further discussion of the transaction ) . the following tables present summarized comparative financial information ( in millions ) of the entities in which the company has the ability to exercise significant influence but does not control and that are accounted for using the equity method. .
|as of and for the years ended december 31,|2003|2002 ( 1 )|2001 ( 1 )|
|revenues|$ 2758|$ 2832|$ 6147|
|operating income|1039|695|1717|
|net income|407|229|650|
|current assets|1347|1097|3700|
|noncurrent assets|7479|6751|14942|
|current liabilities|1434|1418|3510|
|noncurrent liabilities|3795|3349|8297|
|stockholder's equity|3597|3081|6835|
( 1 ) includes information pertaining to eletropaulo and light prior to february 2002 . in 2002 and 2001 , the results of operations and the financial position of cemig were negatively impacted by the devaluation of the brazilian real and the impairment charge recorded in 2002 . the brazilian real devalued 32% ( 32 % ) and 19% ( 19 % ) for the years ended december 31 , 2002 and 2001 , respectively. .
Question: what was the percentage change in operating income for entities in which the company has the ability to exercise significant influence but does not control and that are accounted for using the equity method between 2001 and 2002?
Answer: | -0.59522 |
FINQA4349 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 2003 were $ 10.08 , $ 7.05 , and $ 6.32 per share , respectively . key assumptions used to apply this pricing model are as follows : july 1 , 2005 2013 december 31 , 2005 january 1 , 2005 2013 june 30 , 2005 2004 2003 .
||july 1 2005 2013 december 31 2005|january 1 2005 2013 june 30 2005|2004|2003|
|approximate risk-free interest rate|3.22% ( 3.22 % ) - 4.40% ( 4.40 % )|4.17% ( 4.17 % ) - 4.40% ( 4.40 % )|4.23% ( 4.23 % )|4.00% ( 4.00 % )|
|expected life of option grants|6.25 years|4 years|4 years|4 years|
|expected volatility of underlying stock|29.6% ( 29.6 % )|75.3% ( 75.3 % ) - 79.2% ( 79.2 % )|80.6% ( 80.6 % )|86.6% ( 86.6 % )|
|expected volatility of underlying stock ( atc mexico and atc south america plans )|n/a|n/a|n/a|n/a|
|expected dividends|n/a|n/a|n/a|n/a|
voluntary option exchanges 2014in february 2004 , the company issued to eligible employees 1032717 options with an exercise price of $ 11.19 per share , the fair market value of the class a common stock on the date of grant . these options were issued in connection with a voluntary option exchange program entered into by the company in august 2003 , pursuant to which the company accepted for surrender and cancelled options to purchase a total of 1831981 shares of its class a common stock having an exercise price of $ 10.25 or greater . the program , which was offered to both full and part-time employees , excluding the company 2019s executive officers and its directors , provided for the grant ( at least six months and one day from the surrender date to employees still employed on that date ) of new options exercisable for two shares of class a common stock for every three shares of class a common stock issuable upon exercise of a surrendered option . no options were granted to any employees who participated in the exchange offer between the cancellation date and the new grant atc mexico stock option plan 2014the company maintains a stock option plan in its atc mexico subsidiary ( atc mexico plan ) . the atc mexico plan provides for the issuance of options to officers , employees , directors and consultants of atc mexico . the atc mexico plan limits the number of shares of common stock which may be granted to an aggregate of 360 shares , subject to adjustment based on changes in atc mexico 2019s capital structure . during 2002 , atc mexico granted options to purchase 318 shares of atc mexico common stock to officers and employees . such options were issued at one time with an exercise price of $ 10000 per share . the exercise price per share was at fair market value as determined by the board of directors with the assistance of an independent appraisal performed at the company 2019s request . the fair value of atc mexico plan options granted during 2002 were $ 3611 per share as determined by using the black-scholes option pricing model . as described in note 11 , all outstanding options were exercised in march 2004 . no options under the atc mexico plan were outstanding as of december 31 , 2005 . ( see note 11. ) atc south america stock option plan 2014the company maintains a stock option plan in its atc south america subsidiary ( atc south america plan ) . the atc south america plan provides for the issuance of options to officers , employees , directors and consultants of atc south america . the atc south america plan limits the number of shares of common stock which may be granted to an aggregate of 6144 shares , ( an approximate 10.3% ( 10.3 % ) interest on a fully-diluted basis ) , subject to adjustment based on changes in atc south america 2019s capital structure . during 2004 , atc south america granted options to purchase 6024 shares of atc south america common stock to officers and employees , including messrs . gearon and hess , who received options to purchase an approximate 6.7% ( 6.7 % ) and 1.6% ( 1.6 % ) interest , respectively . such options were issued at one time with an exercise price of $ 1349 per share . the exercise price per share was at fair market value on the date of issuance as determined by the board of directors with the assistance of an independent appraisal performed at the company 2019s request . the fair value of atc south america plan options granted during 2004 were $ 79 per share as determined by using the black-scholes option pricing model . options granted vest upon the earlier to occur of ( a ) the exercise by or on behalf of mr . gearon of his right to sell his interest in atc south america to the company , ( b ) the .
Question: what are the total proceeds from the issuance of employee options during february 2004 , in millions?
Answer: | 11.5561 |
FINQA4350 | Please answer the given financial question based on the context.
Context: entergy mississippi , inc . management 2019s financial discussion and analysis the net wholesale revenue variance is primarily due to entergy mississippi 2019s exit from the system agreement in november 2015 . the reserve equalization revenue variance is primarily due to the absence of reserve equalization revenue as compared to the same period in 2015 resulting from entergy mississippi 2019s exit from the system agreement in november 2015 compared to 2014 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2015 to 2014 . amount ( in millions ) .
||amount ( in millions )|
|2014 net revenue|$ 701.2|
|volume/weather|8.9|
|retail electric price|7.3|
|net wholesale revenue|-2.7 ( 2.7 )|
|transmission equalization|-5.4 ( 5.4 )|
|reserve equalization|-5.5 ( 5.5 )|
|other|-7.5 ( 7.5 )|
|2015 net revenue|$ 696.3|
the volume/weather variance is primarily due to an increase of 86 gwh , or 1% ( 1 % ) , in billed electricity usage , including the effect of more favorable weather on residential and commercial sales . the retail electric price variance is primarily due to a $ 16 million net annual increase in revenues , effective february 2015 , as a result of the mpsc order in the june 2014 rate case and an increase in revenues collected through the energy efficiency rider , partially offset by a decrease in revenues collected through the storm damage rider . the rate case included the realignment of certain costs from collection in riders to base rates . see note 2 to the financial statements for a discussion of the rate case , the energy efficiency rider , and the storm damage rider . the net wholesale revenue variance is primarily due to a wholesale customer contract termination in october transmission equalization revenue represents amounts received by entergy mississippi from certain other entergy utility operating companies , in accordance with the system agreement , to allocate the costs of collectively planning , constructing , and operating entergy 2019s bulk transmission facilities . the transmission equalization variance is primarily attributable to the realignment , effective february 2015 , of these revenues from the determination of base rates to inclusion in a rider . such revenues had a favorable effect on net revenue in 2014 , but minimal effect in 2015 . entergy mississippi exited the system agreement in november 2015 . see note 2 to the financial statements for a discussion of the system agreement . reserve equalization revenue represents amounts received by entergy mississippi from certain other entergy utility operating companies , in accordance with the system agreement , to allocate the costs of collectively maintaining adequate electric generating capacity across the entergy system . the reserve equalization variance is primarily attributable to the realignment , effective february 2015 , of these revenues from the determination of base rates to inclusion in a rider . such revenues had a favorable effect on net revenue in 2014 , but minimal effect in 2015 . entergy .
Question: how much cost would be passed on to customers over three years , in millions , due to the june 2014 rate case , the energy efficiency rider , and the storm damage rider?
Answer: | 48.0 |
FINQA4351 | Please answer the given financial question based on the context.
Context: global brand concepts american living american living is the first brand developed under the newglobal brand concepts group . american living is a full lifestyle brand , featuring menswear , womenswear , childrenswear , accessories and home furnishings with a focus on timeless , authentic american classics for every day . american living is available exclusively at jcpenney in the u.s . and online at jcp.com . our wholesale segment our wholesale segment sells our products to leading upscale and certain mid-tier department stores , specialty stores and golf and pro shops , both domestically and internationally . we have focused on elevating our brand and improving productivity by reducing the number of unproductive doors within department stores in which our products are sold , improving in-store product assortment and presentation , and improving full-price sell-throughs to consumers . as of march 29 , 2008 , the end of fiscal 2008 , our products were sold through 10806 doors worldwide , and during fiscal 2008 , we invested approximately $ 49 million in shop-within-shops dedicated to our products primarily in domestic and international department stores . we have also effected selective price increases on basic products and introduced new fashion offerings at higher price points . department stores are our major wholesale customers in north america . in europe , our wholesale sales are a varying mix of sales to both department stores and specialty shops , depending on the country . our collection brands 2014 women 2019s ralph lauren collection and black label and men 2019s purple label collection and black label 2014 are distributed through a limited number of premier fashion retailers . in addition , we sell excess and out- of-season products through secondary distribution channels , including our retail factory stores . in japan , our products are distributed primarily through shop-within-shops at premiere department stores . the mix of business is weighted to polo ralph lauren inmen 2019s andwomen 2019s blue label . the distribution of men 2019s and women 2019s black label is also expanding through shop-within-shop presentations in top tier department stores across japan . worldwide distribution channels the following table presents the approximate number of doors by geographic location , in which products distributed by our wholesale segment were sold to consumers as of march 29 , 2008 : location number of doors ( a ) .
|location|number of doors ( a )|
|united states and canada|8611|
|europe|2075|
|japan|120|
|total|10806|
( a ) in asia/pacific ( excluding japan ) , our products are distributed by our licensing partners . the following department store chains werewholesale customers whose purchases represented more than 10% ( 10 % ) of our worldwide wholesale net sales for the year ended march 29 , 2008 : 2022 macy 2019s , inc . ( formerly known as federated department stores , inc. ) , which represented approximately 24% ( 24 % ) ; and 2022 dillard department stores , inc. , which represented approximately 12% ( 12 % ) . our product brands are sold primarily through their own sales forces . our wholesale segment maintains their primary showrooms in new york city . in addition , we maintain regional showrooms in atlanta , chicago , dallas , los angeles , milan , paris , london , munich , madrid and stockholm. .
Question: what percentage of the wholesale segment as of march 29 , 2008 doors was in the united states and canada geography?
Answer: | 0.79687 |
FINQA4352 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis during periods in which we have significantly more positive net revenue days than net revenue loss days , we expect to have fewer var exceptions because , under normal conditions , our business model generally produces positive net revenues . in periods in which our franchise revenues are adversely affected , we generally have more loss days , resulting in more var exceptions . the daily net revenues for positions included in var used to determine var exceptions reflect the impact of any intraday activity , including bid/offer net revenues , which are more likely than not to be positive by their nature . sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure . other sensitivity measures we use to analyze market risk are described below . 10% ( 10 % ) sensitivity measures . the table below presents market risk by asset category for positions accounted for at fair value , that are not included in var. .
|$ in millions|as of december 2018|as of december 2017|
|equity|$ 1923|$ 2096|
|debt|1890|1606|
|total|$ 3813|$ 3702|
in the table above : 2030 the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the value of these positions . 2030 equity positions relate to private and restricted public equity securities , including interests in funds that invest in corporate equities and real estate and interests in hedge funds . 2030 debt positions include interests in funds that invest in corporate mezzanine and senior debt instruments , loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans . 2030 funded equity and debt positions are included in our consolidated statements of financial condition in financial instruments owned . see note 6 to the consolidated financial statements for further information about cash instruments . 2030 these measures do not reflect the diversification effect across asset categories or across other market risk measures . credit spread sensitivity on derivatives and financial liabilities . var excludes the impact of changes in counterparty and our own credit spreads on derivatives , as well as changes in our own credit spreads ( debt valuation adjustment ) on financial liabilities for which the fair value option was elected . the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a gain of $ 3 million ( including hedges ) as of both december 2018 and december 2017 . in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on financial liabilities for which the fair value option was elected was a gain of $ 41 million as of december 2018 and $ 35 million as of december 2017 . however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those financial liabilities for which the fair value option was elected , as well as the relative performance of any hedges undertaken . interest rate sensitivity . loans receivable were $ 80.59 billion as of december 2018 and $ 65.93 billion as of december 2017 , substantially all of which had floating interest rates . the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 607 million as of december 2018 and $ 527 million as of december 2017 , of additional interest income over a twelve-month period , which does not take into account the potential impact of an increase in costs to fund such loans . see note 9 to the consolidated financial statements for further information about loans receivable . other market risk considerations as of both december 2018 and december 2017 , we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group , inc . see note 18 to the consolidated financial statements for further information about such lending commitments . in addition , we make investments in securities that are accounted for as available-for-sale and included in financial instruments owned in the consolidated statements of financial condition . see note 6 to the consolidated financial statements for further information . we also make investments accounted for under the equity method and we also make direct investments in real estate , both of which are included in other assets . direct investments in real estate are accounted for at cost less accumulated depreciation . see note 13 to the consolidated financial statements for further information about other assets . 92 goldman sachs 2018 form 10-k .
Question: what is the debt-to-equity ratio in 2017?
Answer: | 0.76622 |
FINQA4353 | Please answer the given financial question based on the context.
Context: f0b7 positive train control 2013 in response to a legislative mandate to implement ptc by the end of 2015 , we expect to spend approximately $ 335 million during 2012 on developing and deploying ptc . we currently estimate that ptc in accordance with implementing rules issued by the federal rail administration ( fra ) will cost us approximately $ 2 billion by the end of 2015 . this includes costs for installing the new system along our tracks , upgrading locomotives to work with the new system , and adding digital data communication equipment so all the parts of the system can communicate with each other . during 2012 , we plan to continue testing the technology to evaluate its effectiveness . f0b7 financial expectations 2013 we are cautious about the economic environment but anticipate slow but steady volume growth that will exceed 2011 levels . coupled with price , on-going network improvements and operational productivity initiatives , we expect earnings that exceed 2011 earnings . results of operations operating revenues millions 2011 2010 2009 % ( % ) change 2011 v 2010 % ( % ) change 2010 v 2009 .
|millions|2011|2010|2009|% ( % ) change 2011 v 2010|% ( % ) change 2010 v 2009|
|freight revenues|$ 18508|$ 16069|$ 13373|15% ( 15 % )|20% ( 20 % )|
|other revenues|1049|896|770|17|16|
|total|$ 19557|$ 16965|$ 14143|15% ( 15 % )|20% ( 20 % )|
we generate freight revenues by transporting freight or other materials from our six commodity groups . freight revenues vary with volume ( carloads ) and average revenue per car ( arc ) . changes in price , traffic mix and fuel surcharges drive arc . we provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations , which we record as reductions to freight revenues based on the actual or projected future shipments . we recognize freight revenues as shipments move from origin to destination . we allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them . other revenues include revenues earned by our subsidiaries , revenues from our commuter rail operations , and accessorial revenues , which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage . we recognize other revenues as we perform services or meet contractual obligations . freight revenues for all six commodity groups increased during 2011 compared to 2010 , while volume increased in all except intermodal . increased demand in many market sectors , with particularly strong growth in chemical , industrial products , and automotive shipments for the year , generated the increases . arc increased 12% ( 12 % ) , driven by higher fuel cost recoveries and core pricing gains . fuel cost recoveries include fuel surcharge revenue and the impact of resetting the base fuel price for certain traffic , which is described below in more detail . higher fuel prices , volume growth , and new fuel surcharge provisions in renegotiated contracts all combined to increase revenues from fuel surcharges . freight revenues and volume levels for all six commodity groups increased during 2010 as a result of economic improvement in many market sectors . we experienced particularly strong volume growth in automotive , intermodal , and industrial products shipments . core pricing gains and higher fuel surcharges also increased freight revenues and drove a 6% ( 6 % ) improvement in arc . our fuel surcharge programs ( excluding index-based contract escalators that contain some provision for fuel ) generated freight revenues of $ 2.2 billion , $ 1.2 billion , and $ 605 million in 2011 , 2010 , and 2009 , respectively . higher fuel prices , volume growth , and new fuel surcharge provisions in contracts renegotiated during the year increased fuel surcharge amounts in 2011 and 2010 . furthermore , for certain periods during 2009 , fuel prices dropped below the base at which our mileage-based fuel surcharge begins , which resulted in no fuel surcharge recovery for associated shipments during those periods . additionally , fuel surcharge revenue is not entirely comparable to prior periods as we continue to convert portions of our non-regulated traffic to mileage-based fuel surcharge programs . in 2011 , other revenues increased from 2010 due primarily to higher revenues at our subsidiaries that broker intermodal and automotive services. .
Question: fuel surcharge programs represented what share of revenue in 2011?
Answer: | 0.11249 |
FINQA4354 | Please answer the given financial question based on the context.
Context: an average of 7.1 in 2000 . the top 100 largest clients used an average of 11.3 products in 2001 , up from an average of 11.2 in 2000 . state street benefits significantly from its ability to derive revenue from the transaction flows of clients . this occurs through the management of cash positions , including deposit balances and other short-term investment activities , using state street 2019s balance sheet capacity . significant foreign currency transaction volumes provide potential for foreign exchange trading revenue as well . fee revenue total operating fee revenuewas $ 2.8 billion in 2001 , compared to $ 2.7 billion in 2000 , an increase of 6% ( 6 % ) . adjusted for the formation of citistreet , the growth in fee revenue was 8% ( 8 % ) . growth in servicing fees of $ 199million , or 14% ( 14 % ) , was the primary contributor to the increase in fee revenue . this growth primarily reflects several large client wins installed starting in the latter half of 2000 and continuing throughout 2001 , and strength in fee revenue from securities lending . declines in equity market values worldwide offset some of the growth in servicing fees . management fees were down 5% ( 5 % ) , adjusted for the formation of citistreet , reflecting the decline in theworldwide equitymarkets . foreign exchange trading revenue was down 5% ( 5 % ) , reflecting lower currency volatility , and processing fees and other revenue was up 21% ( 21 % ) , primarily due to gains on the sales of investment securities . servicing and management fees are a function of several factors , including the mix and volume of assets under custody and assets under management , securities positions held , and portfolio transactions , as well as types of products and services used by clients . state street estimates , based on a study conducted in 2000 , that a 10% ( 10 % ) increase or decrease in worldwide equity values would cause a corresponding change in state street 2019s total revenue of approximately 2% ( 2 % ) . if bond values were to increase or decrease by 10% ( 10 % ) , state street would anticipate a corresponding change of approximately 1% ( 1 % ) in its total revenue . securities lending revenue in 2001 increased approximately 40% ( 40 % ) over 2000 . securities lending revenue is reflected in both servicing fees and management fees . securities lending revenue is a function of the volume of securities lent and interest rate spreads . while volumes increased in 2001 , the year-over-year increase is primarily due to wider interest rate spreads resulting from the unusual occurrence of eleven reductions in the u.s . federal funds target rate during 2001 . f e e r e v e n u e ( dollars in millions ) 2001 ( 1 ) 2000 1999 ( 2 ) change adjusted change 00-01 ( 3 ) .
|( dollars in millions )|2001 ( 1 )|2000|1999 ( 2 )|change 00-01|adjusted change 00-01 ( 3 )|
|servicing fees|$ 1624|$ 1425|$ 1170|14% ( 14 % )|14% ( 14 % )|
|management fees|511|581|600|-12 ( 12 )|-5 ( 5 )|
|foreign exchange trading|368|387|306|-5 ( 5 )|-5 ( 5 )|
|processing fees and other|329|272|236|21|21|
|total fee revenue|$ 2832|$ 2665|$ 2312|6|8|
( 1 ) 2001 results exclude the write-off of state street 2019s total investment in bridge of $ 50 million ( 2 ) 1999 results exclude the one-time charge of $ 57 million related to the repositioning of the investment portfolio ( 3 ) 2000 results adjusted for the formation of citistreet 4 state street corporation .
Question: what percent of the total fee revenue in 2001 was from servicing fees?
Answer: | 0.57345 |
FINQA4355 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements jpmorgan chase & co./2009 annual report 168 nonrecurring fair value changes the following table presents the total change in value of financial instruments for which a fair value adjustment has been included in the consolidated statements of income for the years ended december 31 , 2009 , 2008 and 2007 , related to financial instru- ments held at these dates . year ended december 31 .
|( in millions )|2009|2008|2007|
|loans retained|$ -3550 ( 3550 )|$ -1159 ( 1159 )|$ -218 ( 218 )|
|loans held-for-sale|-389 ( 389 )|-2728 ( 2728 )|-502 ( 502 )|
|total loans|-3939 ( 3939 )|-3887 ( 3887 )|-720 ( 720 )|
|other assets|-104 ( 104 )|-685 ( 685 )|-161 ( 161 )|
|accounts payable andother liabilities|31|-285 ( 285 )|2|
|total nonrecurringfairvalue gains/ ( losses )|$ -4012 ( 4012 )|$ -4857 ( 4857 )|$ -879 ( 879 )|
accounts payable and other liabilities 31 ( 285 ) 2 total nonrecurring fair value gains/ ( losses ) $ ( 4012 ) $ ( 4857 ) $ ( 879 ) in the above table , loans predominantly include : ( 1 ) write-downs of delinquent mortgage and home equity loans where impairment is based on the fair value of the underlying collateral ; and ( 2 ) the change in fair value for leveraged lending loans carried on the consolidated balance sheets at the lower of cost or fair value . accounts payable and other liabilities predominantly include the change in fair value for unfunded lending-related commitments within the leveraged lending portfolio . level 3 analysis level 3 assets ( including assets measured at fair value on a nonre- curring basis ) were 6% ( 6 % ) of total firm assets at both december 31 , 2009 and 2008 . level 3 assets were $ 130.4 billion at december 31 , 2009 , reflecting a decrease of $ 7.3 billion in 2009 , due to the following : 2022 a net decrease of $ 6.3 billion in gross derivative receivables , predominantly driven by the tightening of credit spreads . offset- ting a portion of the decrease were net transfers into level 3 dur- ing the year , most notably a transfer into level 3 of $ 41.3 billion of structured credit derivative receivables , and a transfer out of level 3 of $ 17.7 billion of single-name cds on abs . the fair value of the receivables transferred into level 3 during the year was $ 22.1 billion at december 31 , 2009 . the fair value of struc- tured credit derivative payables with a similar underlying risk profile to the previously noted receivables , that are also classified in level 3 , was $ 12.5 billion at december 31 , 2009 . these de- rivatives payables offset the receivables , as they are modeled and valued the same way with the same parameters and inputs as the assets . 2022 a net decrease of $ 3.5 billion in loans , predominantly driven by sales of leveraged loans and transfers of similar loans to level 2 , due to increased price transparency for such assets . leveraged loans are typically classified as held-for-sale and measured at the lower of cost or fair value and , therefore , included in the nonre- curring fair value assets . 2022 a net decrease of $ 6.3 billion in trading assets 2013 debt and equity instruments , primarily in loans and residential- and commercial- mbs , principally driven by sales and markdowns , and by sales and unwinds of structured transactions with hedge funds . the declines were partially offset by a transfer from level 2 to level 3 of certain structured notes reflecting lower liquidity and less pricing ob- servability , and also increases in the fair value of other abs . 2022 a net increase of $ 6.1 billion in msrs , due to increases in the fair value of the asset , related primarily to market interest rate and other changes affecting the firm's estimate of future pre- payments , as well as sales in rfs of originated loans for which servicing rights were retained . these increases were offset par- tially by servicing portfolio runoff . 2022 a net increase of $ 1.9 billion in accrued interest and accounts receivable related to increases in subordinated retained interests from the firm 2019s credit card securitization activities . gains and losses gains and losses included in the tables for 2009 and 2008 included : 2022 $ 11.4 billion of net losses on derivatives , primarily related to the tightening of credit spreads . 2022 net losses on trading 2013debt and equity instruments of $ 671 million , consisting of $ 2.1 billion of losses , primarily related to residential and commercial loans and mbs , principally driven by markdowns and sales , partially offset by gains of $ 1.4 billion , reflecting increases in the fair value of other abs . ( for a further discussion of the gains and losses on mortgage-related expo- sures , inclusive of risk management activities , see the 201cmort- gage-related exposures carried at fair value 201d discussion below. ) 2022 $ 5.8 billion of gains on msrs . 2022 $ 1.4 billion of losses related to structured note liabilities , pre- dominantly due to volatility in the equity markets . 2022 losses on trading-debt and equity instruments of approximately $ 12.8 billion , principally from mortgage-related transactions and auction-rate securities . 2022 losses of $ 6.9 billion on msrs . 2022 losses of approximately $ 3.9 billion on leveraged loans . 2022 net gains of $ 4.6 billion related to derivatives , principally due to changes in credit spreads and rate curves . 2022 gains of $ 4.5 billion related to structured notes , principally due to significant volatility in the fixed income , commodities and eq- uity markets . 2022 private equity losses of $ 638 million . for further information on changes in the fair value of the msrs , see note 17 on pages 223 2013224 of this annual report. .
Question: what was the increase observed in the accounts payable and other liabilities during the years 2008-2009 , in millions?
Answer: | 316.0 |
FINQA4356 | Please answer the given financial question based on the context.
Context: management anticipates that the effective tax rate in 2017 will be between 32% ( 32 % ) and 35% ( 35 % ) . however , business portfolio actions , changes in the current economic environment , tax legislation or rate changes , currency fluctuations , ability to realize deferred tax assets , movements in stock price impacting tax benefits or deficiencies on stock-based payment awards , and the results of operations in certain taxing jurisdictions may cause this estimated rate to fluctuate . segment information arconic 2019s operations consist of three worldwide reportable segments : global rolled products , engineered products and solutions , and transportation and construction solutions ( see below ) . segment performance under arconic 2019s management reporting system is evaluated based on a number of factors ; however , the primary measure of performance is the after-tax operating income ( atoi ) of each segment . certain items such as the impact of lifo inventory accounting ; metal price lag ( the timing difference created when the average price of metal sold differs from the average cost of the metal when purchased by the respective segment 2014generally when the price of metal increases , metal lag is favorable and when the price of metal decreases , metal lag is unfavorable ) ; interest expense ; noncontrolling interests ; corporate expense ( general administrative and selling expenses of operating the corporate headquarters and other global administrative facilities , along with depreciation and amortization on corporate-owned assets ) ; restructuring and other charges ; and other items , including intersegment profit eliminations , differences between tax rates applicable to the segments and the consolidated effective tax rate , and other nonoperating items such as foreign currency transaction gains/losses and interest income are excluded from segment atoi . atoi for all reportable segments totaled $ 1087 in 2016 , $ 986 in 2015 , and $ 983 in 2014 . the following information provides shipment , sales and atoi data for each reportable segment , as well as certain realized price data , for each of the three years in the period ended december 31 , 2016 . see note o to the consolidated financial statements in part ii item 8 of this form 10-k for additional information . beginning in the first quarter of 2017 , arconic 2019s segment reporting metric will change from atoi to adjusted ebitda . global rolled products ( 1 ) .
||2016|2015|2014|
|third-party aluminum shipments ( kmt )|1339|1375|1598|
|average realized price per metric ton of aluminum ( 2 )|$ 3633|$ 3820|$ 3970|
|third-party sales|$ 4864|$ 5253|$ 6344|
|intersegment sales|118|125|185|
|total sales|$ 4982|$ 5378|$ 6529|
|atoi|$ 269|$ 225|$ 224|
( 1 ) excludes the warrick , in rolling operations and the equity interest in the rolling mill at the joint venture in saudi arabia , both of which were previously part of the global rolled products segment but became part of alcoa corporation effective november 1 , 2016 . ( 2 ) generally , average realized price per metric ton of aluminum includes two elements : a ) the price of metal ( the underlying base metal component based on quoted prices from the lme , plus a regional premium which represents the incremental price over the base lme component that is associated with physical delivery of metal to a particular region ) , and b ) the conversion price , which represents the incremental price over the metal price component that is associated with converting primary aluminum into sheet and plate . in this circumstance , the metal price component is a pass-through to this segment 2019s customers with limited exception ( e.g. , fixed-priced contracts , certain regional premiums ) . the global rolled products segment produces aluminum sheet and plate for a variety of end markets . sheet and plate is sold directly to customers and through distributors related to the aerospace , automotive , commercial transportation , packaging , building and construction , and industrial products ( mainly used in the production of machinery and equipment and consumer durables ) end markets . a small portion of this segment also produces aseptic foil for the packaging end market . while the customer base for flat-rolled products is large , a significant amount of sales of sheet .
Question: what is the percentual growth of the global products' atoi concerning the total atoi for all segments during the years 2014-2015?
Answer: | 0.00032 |
FINQA4357 | Please answer the given financial question based on the context.
Context: eastman notes to the audited consolidated financial statements accumulated other comprehensive income ( loss ) ( dollars in millions ) cumulative translation adjustment unfunded additional minimum pension liability unrecognized loss and prior service cost , net of unrealized gains ( losses ) on cash flow hedges unrealized losses on investments accumulated comprehensive income ( loss ) balance at december 31 , 2004 155 ( 248 ) -- ( 8 ) ( 2 ) ( 103 ) .
|( dollars in millions )|cumulative translation adjustment$|unfundedadditionalminimum pension liability$|unrecognized loss and prior service cost net of taxes$|unrealized gains ( losses ) on cash flow hedges$|unrealized losses on investments$|accumulated other comprehensive income ( loss ) $|
|balance at december 31 2004|155|-248 ( 248 )|--|-8 ( 8 )|-2 ( 2 )|-103 ( 103 )|
|period change|-94 ( 94 )|-7 ( 7 )|--|3|1|-97 ( 97 )|
|balance at december 31 2005|61|-255 ( 255 )|--|-5 ( 5 )|-1 ( 1 )|-200 ( 200 )|
|period change|60|48|--|-1 ( 1 )|--|107|
|pre-sfas no . 158 balance at december 31 2006|121|-207 ( 207 )|--|-6 ( 6 )|-1 ( 1 )|-93 ( 93 )|
|adjustments to apply sfas no . 158|--|207|-288 ( 288 )|--|--|-81 ( 81 )|
|balance at december 31 2006|121|--|-288 ( 288 )|-6 ( 6 )|-1 ( 1 )|-174 ( 174 )|
pre-sfas no . 158 balance at december 31 , 2006 121 ( 207 ) -- ( 6 ) ( 1 ) ( 93 ) adjustments to apply sfas no . 158 -- 207 ( 288 ) -- -- ( 81 ) balance at december 31 , 2006 121 -- ( 288 ) ( 6 ) ( 1 ) ( 174 ) except for cumulative translation adjustment , amounts of other comprehensive income ( loss ) are presented net of applicable taxes . because cumulative translation adjustment is considered a component of permanently invested , unremitted earnings of subsidiaries outside the united states , no taxes are provided on such amounts . 15 . share-based compensation plans and awards 2002 omnibus long-term compensation plan eastman's 2002 omnibus long-term compensation plan provides for grants to employees of nonqualified stock options , incentive stock options , tandem and freestanding stock appreciation rights ( 201csar 2019s 201d ) , performance shares and various other stock and stock-based awards . the 2002 omnibus plan provides that options can be granted through may 2 , 2007 , for the purchase of eastman common stock at an option price not less than 100 percent of the per share fair market value on the date of the stock option's grant . there is a maximum of 7.5 million shares of common stock available for option grants and other awards during the term of the 2002 omnibus plan . director long-term compensation plan eastman's 2002 director long-term compensation plan provides for grants of nonqualified stock options and restricted shares to nonemployee members of the board of directors . shares of restricted stock are granted upon the first day of the directors' initial term of service and nonqualified stock options and shares of restricted stock are granted each year following the annual meeting of stockholders . the 2002 director plan provides that options can be granted through the later of may 1 , 2007 , or the date of the annual meeting of stockholders in 2007 for the purchase of eastman common stock at an option price not less than the stock's fair market value on the date of the grant. .
Question: what is the percent change in cumulative translation adjustment between 2005 and 2006?
Answer: | 0.98361 |
FINQA4358 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) pro forma disclosure 2014the company has adopted the disclosure-only provisions of sfas no . 123 , as amended by sfas no . 148 , and has presented such disclosure in note 1 . the 201cfair value 201d of each option grant is estimated on the date of grant using the black-scholes option pricing model . the weighted average fair values of the company 2019s options granted during 2004 , 2003 and 2002 were $ 7.05 , $ 6.32 , and $ 2.23 per share , respectively . key assumptions used to apply this pricing model are as follows: .
||2004|2003|2002|
|approximate risk-free interest rate|4.23% ( 4.23 % )|4.00% ( 4.00 % )|4.53% ( 4.53 % )|
|expected life of option grants|4 years|4 years|5 years|
|expected volatility of underlying stock ( the company plan )|80.6% ( 80.6 % )|86.6% ( 86.6 % )|92.3% ( 92.3 % )|
|expected volatility of underlying stock ( atc mexico and atc south america plans )|n/a|n/a|n/a|
|expected dividends|n/a|n/a|n/a|
voluntary option exchanges 2014in february 2004 , the company issued to eligible employees 1032717 options with an exercise price of $ 11.19 per share , the fair market value of the class a common stock on the date of grant . these options were issued in connection with a voluntary option exchange program entered into by the company in august 2003 , where the company accepted for surrender and cancelled options ( having an exercise price of $ 10.25 or greater ) to purchase 1831981 shares of its class a common stock . the program , which was offered to both full and part-time employees , excluding the company 2019s executive officers and its directors , called for the grant ( at least six months and one day from the surrender date to employees still employed on that date ) of new options exercisable for two shares of class a common stock for every three shares of class a common stock issuable upon exercise of a surrendered option . no options were granted to any employees who participated in the exchange offer between the cancellation date and the new grant date . in may 2002 , the company issued to eligible employees 2027612 options with an exercise price of $ 3.84 per share , the fair market value of the class a common stock on the date of grant . these options were issued in connection with a voluntary option exchange program entered into by the company in october 2001 , where the company accepted for surrender and cancelled options to purchase 3471211 shares of its class a common stock . the program , which was offered to both full and part-time employees , excluding most of the company 2019s executive officers , called for the grant ( at least six months and one day from the surrender date to employees still employed on that date ) of new options exercisable for two shares of class a common stock for every three shares of class a common stock issuable upon exercise of a surrendered option . no options were granted to any employees who participated in the exchange offer between the cancellation date and the new grant date . atc mexico holding stock option plan 2014the company maintains a stock option plan in its atc mexico subsidiary ( atc mexico plan ) . the atc mexico plan provides for the issuance of options to officers , employees , directors and consultants of atc mexico . the atc mexico plan limits the number of shares of common stock which may be granted to an aggregate of 360 shares , subject to adjustment based on changes in atc mexico 2019s capital structure . during 2002 , atc mexico granted options to purchase 318 shares of atc mexico common stock to officers and employees . such options were issued at one time with an exercise price of $ 10000 per share . the exercise price per share was at fair market value as determined by the board of directors with the assistance of an independent appraisal performed at the company 2019s request . the fair value of atc mexico plan options granted during 2002 were $ 3611 per share as determined by using the black-scholes option pricing model . as described in note 10 , all outstanding options were exercised in march 2004 . no options under the atc mexico plan were granted in 2004 or 2003 , or exercised or cancelled in 2003 or 2002 , and no options were exercisable as of december 31 , 2003 or 2002 . ( see note 10. ) .
Question: what is the growth rate in weighted average fair values of the company 2019s options granted from 2002 to 2003?
Answer: | 1.83408 |
FINQA4359 | Please answer the given financial question based on the context.
Context: united parcel service , inc . and subsidiaries notes to consolidated financial statements floating-rate senior notes the floating-rate senior notes with principal amounts totaling $ 1.043 billion , bear interest at either one or three-month libor , less a spread ranging from 30 to 45 basis points . the average interest rate for 2017 and 2016 was 0.74% ( 0.74 % ) and 0.21% ( 0.21 % ) , respectively . these notes are callable at various times after 30 years at a stated percentage of par value , and putable by the note holders at various times after one year at a stated percentage of par value . the notes have maturities ranging from 2049 through 2067 . we classified the floating-rate senior notes that are putable by the note holder as a long-term liability , due to our intent and ability to refinance the debt if the put option is exercised by the note holder . in march and november 2017 , we issued floating-rate senior notes in the principal amounts of $ 147 and $ 64 million , respectively , which are included in the $ 1.043 billion floating-rate senior notes described above . these notes will bear interest at three-month libor less 30 and 35 basis points , respectively and mature in 2067 . the remaining three floating-rate senior notes in the principal amounts of $ 350 , $ 400 and $ 500 million , bear interest at three-month libor , plus a spread ranging from 15 to 45 basis points . the average interest rate for 2017 and 2016 was 0.50% ( 0.50 % ) and 0.0% ( 0.0 % ) , respectively . these notes are not callable . the notes have maturities ranging from 2021 through 2023 . we classified the floating-rate senior notes that are putable by the note holder as a long-term liability , due to our intent and ability to refinance the debt if the put option is exercised by the note holder . capital lease obligations we have certain property , plant and equipment subject to capital leases . some of the obligations associated with these capital leases have been legally defeased . the recorded value of our property , plant and equipment subject to capital leases is as follows as of december 31 ( in millions ) : .
||2017|2016|
|vehicles|$ 70|$ 68|
|aircraft|2291|2291|
|buildings|285|190|
|accumulated amortization|-990 ( 990 )|-896 ( 896 )|
|property plant and equipment subject to capital leases|$ 1656|$ 1653|
these capital lease obligations have principal payments due at various dates from 2018 through 3005 . facility notes and bonds we have entered into agreements with certain municipalities to finance the construction of , or improvements to , facilities that support our u.s . domestic package and supply chain & freight operations in the united states . these facilities are located around airport properties in louisville , kentucky ; dallas , texas ; and philadelphia , pennsylvania . under these arrangements , we enter into a lease or loan agreement that covers the debt service obligations on the bonds issued by the municipalities , as follows : 2022 bonds with a principal balance of $ 149 million issued by the louisville regional airport authority associated with our worldport facility in louisville , kentucky . the bonds , which are due in january 2029 , bear interest at a variable rate , and the average interest rates for 2017 and 2016 were 0.83% ( 0.83 % ) and 0.37% ( 0.37 % ) , respectively . 2022 bonds with a principal balance of $ 42 million and due in november 2036 issued by the louisville regional airport authority associated with our air freight facility in louisville , kentucky . the bonds bear interest at a variable rate , and the average interest rates for 2017 and 2016 were 0.80% ( 0.80 % ) and 0.36% ( 0.36 % ) , respectively . 2022 bonds with a principal balance of $ 29 million issued by the dallas / fort worth international airport facility improvement corporation associated with our dallas , texas airport facilities . the bonds are due in may 2032 and bear interest at a variable rate , however the variable cash flows on the obligation have been swapped to a fixed 5.11% ( 5.11 % ) . 2022 in september 2015 , we entered into an agreement with the delaware county , pennsylvania industrial development authority , associated with our philadelphia , pennsylvania airport facilities , for bonds issued with a principal balance of $ 100 million . these bonds , which are due september 2045 , bear interest at a variable rate . the average interest rate for 2017 and 2016 was 0.78% ( 0.78 % ) and 0.40% ( 0.40 % ) , respectively. .
Question: what was the percentage change in building under capital lease from 2016 to 2017?
Answer: | 0.5 |
FINQA4360 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries notes to consolidated financial statements in connection with the firm 2019s prime brokerage and clearing businesses , the firm agrees to clear and settle on behalf of its clients the transactions entered into by them with other brokerage firms . the firm 2019s obligations in respect of such transactions are secured by the assets in the client 2019s account as well as any proceeds received from the transactions cleared and settled by the firm on behalf of the client . in connection with joint venture investments , the firm may issue loan guarantees under which it may be liable in the event of fraud , misappropriation , environmental liabilities and certain other matters involving the borrower . the firm is unable to develop an estimate of the maximum payout under these guarantees and indemnifications . however , management believes that it is unlikely the firm will have to make any material payments under these arrangements , and no material liabilities related to these guarantees and indemnifications have been recognized in the consolidated statements of financial condition as of december 2016 and december 2015 . other representations , warranties and indemnifications . the firm provides representations and warranties to counterparties in connection with a variety of commercial transactions and occasionally indemnifies them against potential losses caused by the breach of those representations and warranties . the firm may also provide indemnifications protecting against changes in or adverse application of certain u.s . tax laws in connection with ordinary-course transactions such as securities issuances , borrowings or derivatives . in addition , the firm may provide indemnifications to some counterparties to protect them in the event additional taxes are owed or payments are withheld , due either to a change in or an adverse application of certain non-u.s . tax laws . these indemnifications generally are standard contractual terms and are entered into in the ordinary course of business . generally , there are no stated or notional amounts included in these indemnifications , and the contingencies triggering the obligation to indemnify are not expected to occur . the firm is unable to develop an estimate of the maximum payout under these guarantees and indemnifications . however , management believes that it is unlikely the firm will have to make any material payments under these arrangements , and no material liabilities related to these arrangements have been recognized in the consolidated statements of financial condition as of december 2016 and december 2015 . guarantees of subsidiaries . group inc . fully and unconditionally guarantees the securities issued by gs finance corp. , a wholly-owned finance subsidiary of the group inc . has guaranteed the payment obligations of goldman , sachs & co . ( gs&co. ) and gs bank usa , subject to certain exceptions . in addition , group inc . guarantees many of the obligations of its other consolidated subsidiaries on a transaction-by- transaction basis , as negotiated with counterparties . group inc . is unable to develop an estimate of the maximum payout under its subsidiary guarantees ; however , because these guaranteed obligations are also obligations of consolidated subsidiaries , group inc . 2019s liabilities as guarantor are not separately disclosed . note 19 . shareholders 2019 equity common equity dividends declared per common share were $ 2.60 in 2016 , $ 2.55 in 2015 and $ 2.25 in 2014 . on january 17 , 2017 , group inc . declared a dividend of $ 0.65 per common share to be paid on march 30 , 2017 to common shareholders of record on march 2 , 2017 . the firm 2019s share repurchase program is intended to help maintain the appropriate level of common equity . the share repurchase program is effected primarily through regular open-market purchases ( which may include repurchase plans designed to comply with rule 10b5-1 ) , the amounts and timing of which are determined primarily by the firm 2019s current and projected capital position , but which may also be influenced by general market conditions and the prevailing price and trading volumes of the firm 2019s common stock . prior to repurchasing common stock , the firm must receive confirmation that the federal reserve board does not object to such capital actions . the table below presents the amount of common stock repurchased by the firm under the share repurchase program. .
|in millions except per share amounts|year ended december 2016|year ended december 2015|year ended december 2014|
|common share repurchases|36.6|22.1|31.8|
|average cost per share|$ 165.88|$ 189.41|$ 171.79|
|total cost of common share repurchases|$ 6069|$ 4195|$ 5469|
172 goldman sachs 2016 form 10-k .
Question: what was total shareholders 2019 equity common equity dividends declared per common share in 2016 , 2015 and 2014?
Answer: | 7.4 |
FINQA4361 | Please answer the given financial question based on the context.
Context: mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the following table summarizes expected benefit payments through 2019 for the pension plans , including those payments expected to be paid from the company 2019s general assets . since the majority of the benefit payments are made in the form of lump-sum distributions , actual benefit payments may differ from expected benefit payments. .
|2010|$ 18181|
|2011|27090|
|2012|21548|
|2013|25513|
|2014|24002|
|2015-2019|128494|
substantially all of the company 2019s u.s . employees are eligible to participate in a defined contribution savings plan ( the 201csavings plan 201d ) sponsored by the company . the savings plan allows employees to contribute a portion of their base compensation on a pre-tax and after-tax basis in accordance with specified guidelines . the company matches a percentage of employees 2019 contributions up to certain limits . in 2007 and prior years , the company could also contribute to the savings plan a discretionary profit sharing component linked to company performance during the prior year . beginning in 2008 , the discretionary profit sharing amount related to prior year company performance was paid directly to employees as a short-term cash incentive bonus rather than as a contribution to the savings plan . in addition , the company has several defined contribution plans outside of the united states . the company 2019s contribution expense related to all of its defined contribution plans was $ 40627 , $ 35341 and $ 26996 for 2009 , 2008 and 2007 , respectively . note 13 . postemployment and postretirement benefits the company maintains a postretirement plan ( the 201cpostretirement plan 201d ) providing health coverage and life insurance benefits for substantially all of its u.s . employees hired before july 1 , 2007 . the company amended the life insurance benefits under the postretirement plan effective january 1 , 2007 . the impact , net of taxes , of this amendment was an increase of $ 1715 to accumulated other comprehensive income in 2007 . in 2009 , the company recorded a $ 3944 benefit expense as a result of enhanced postretirement medical benefits under the postretirement plan provided to employees that chose to participate in a voluntary transition program. .
Question: what is the average contribution expense related to all of its defined contribution plans for the years 2007-2009?
Answer: | 34321.33333 |
FINQA4362 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries notes to financial statements amount ( in millions ) .
||amount ( in millions )|
|plant ( including nuclear fuel )|$ 727|
|decommissioning trust funds|252|
|other assets|41|
|total assets acquired|1020|
|purchased power agreement ( below market )|420|
|decommissioning liability|220|
|other liabilities|44|
|total liabilities assumed|684|
|net assets acquired|$ 336|
subsequent to the closing , entergy received approximately $ 6 million from consumers energy company as part of the post-closing adjustment defined in the asset sale agreement . the post-closing adjustment amount resulted in an approximately $ 6 million reduction in plant and a corresponding reduction in other liabilities . for the ppa , which was at below-market prices at the time of the acquisition , non-utility nuclear will amortize a liability to revenue over the life of the agreement . the amount that will be amortized each period is based upon the difference between the present value calculated at the date of acquisition of each year's difference between revenue under the agreement and revenue based on estimated market prices . amounts amortized to revenue were $ 53 million in 2009 , $ 76 million in 2008 , and $ 50 million in 2007 . the amounts to be amortized to revenue for the next five years will be $ 46 million for 2010 , $ 43 million for 2011 , $ 17 million in 2012 , $ 18 million for 2013 , and $ 16 million for 2014 . nypa value sharing agreements non-utility nuclear's purchase of the fitzpatrick and indian point 3 plants from nypa included value sharing agreements with nypa . in october 2007 , non-utility nuclear and nypa amended and restated the value sharing agreements to clarify and amend certain provisions of the original terms . under the amended value sharing agreements , non-utility nuclear will make annual payments to nypa based on the generation output of the indian point 3 and fitzpatrick plants from january 2007 through december 2014 . non-utility nuclear will pay nypa $ 6.59 per mwh for power sold from indian point 3 , up to an annual cap of $ 48 million , and $ 3.91 per mwh for power sold from fitzpatrick , up to an annual cap of $ 24 million . the annual payment for each year's output is due by january 15 of the following year . non-utility nuclear will record its liability for payments to nypa as power is generated and sold by indian point 3 and fitzpatrick . an amount equal to the liability will be recorded to the plant asset account as contingent purchase price consideration for the plants . in 2009 , 2008 , and 2007 , non-utility nuclear recorded $ 72 million as plant for generation during each of those years . this amount will be depreciated over the expected remaining useful life of the plants . in august 2008 , non-utility nuclear entered into a resolution of a dispute with nypa over the applicability of the value sharing agreements to its fitzpatrick and indian point 3 nuclear power plants after the planned spin-off of the non-utility nuclear business . under the resolution , non-utility nuclear agreed not to treat the separation as a "cessation event" that would terminate its obligation to make the payments under the value sharing agreements . as a result , after the spin-off transaction , enexus will continue to be obligated to make payments to nypa under the amended and restated value sharing agreements. .
Question: what was the total debt to the assets of the items acquired
Answer: | 0.67059 |
FINQA4363 | Please answer the given financial question based on the context.
Context: at december 31 , 2009 , aon had domestic federal operating loss carryforwards of $ 7 million that will expire at various dates from 2010 to 2024 , state operating loss carryforwards of $ 513 million that will expire at various dates from 2010 to 2028 , and foreign operating and capital loss carryforwards of $ 453 million and $ 252 million , respectively , nearly all of which are subject to indefinite carryforward . unrecognized tax benefits the following is a reconciliation of the company 2019s beginning and ending amount of unrecognized tax benefits ( in millions ) : .
||2009|2008|
|balance at january 1|$ 86|$ 70|
|additions based on tax positions related to the current year|2|5|
|additions for tax positions of prior years|5|12|
|reductions for tax positions of prior years|-11 ( 11 )|-11 ( 11 )|
|settlements|-10 ( 10 )|-4 ( 4 )|
|lapse of statute of limitations|-3 ( 3 )|-1 ( 1 )|
|acquisitions|6|21|
|foreign currency translation|2|-6 ( 6 )|
|balance at december 31|$ 77|$ 86|
as of december 31 , 2009 , $ 61 million of unrecognized tax benefits would impact the effective tax rate if recognized . aon does not expect the unrecognized tax positions to change significantly over the next twelve months . the company recognizes penalties and interest related to unrecognized income tax benefits in its provision for income taxes . aon accrued potential penalties of less than $ 1 million during each of 2009 , 2008 and 2007 . aon accrued interest of $ 2 million during 2009 and less than $ 1 million during both 2008 and 2007 . as of december 31 , 2009 and 2008 , aon has recorded a liability for penalties of $ 5 million and $ 4 million , respectively , and for interest of $ 18 million and $ 14 million , respectively . aon and its subsidiaries file income tax returns in the u.s . federal jurisdiction as well as various state and international jurisdictions . aon has substantially concluded all u.s . federal income tax matters for years through 2006 . material u.s . state and local income tax jurisdiction examinations have been concluded for years through 2002 . aon has concluded income tax examinations in its primary international jurisdictions through 2002. .
Question: considering the years 2008 and 2009 , what is the variation observed in the foreign currency translation , in millions?
Answer: | 8.0 |
FINQA4364 | Please answer the given financial question based on the context.
Context: item 7a . quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items . from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks . derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes . interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations . the majority of our debt ( approximately 93% ( 93 % ) and 91% ( 91 % ) as of december 31 , 2012 and 2011 , respectively ) bears interest at fixed rates . we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows . the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below . increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .
|as of december 31,|increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates|increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates|
|2012|$ -27.5 ( 27.5 )|$ 28.4|
|2011|-7.4 ( 7.4 )|7.7|
we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates . during 2012 , we entered into and exited forward-starting interest rate swap agreements to effectively lock in the benchmark rate related to our 3.75% ( 3.75 % ) senior notes due 2023 , which we issued in november 2012 . we do not have any interest rate swaps outstanding as of december 31 , 2012 . we had $ 2590.8 of cash , cash equivalents and marketable securities as of december 31 , 2012 that we generally invest in conservative , short-term investment-grade securities . the interest income generated from these investments is subject to both domestic and foreign interest rate movements . during 2012 and 2011 , we had interest income of $ 29.5 and $ 37.8 , respectively . based on our 2012 results , a 100 basis point increase or decrease in interest rates would affect our interest income by approximately $ 26.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2012 levels . foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates . since we report revenues and expenses in u.s . dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s . dollars ) from foreign operations . the primary foreign currencies that impacted our results during 2012 were the brazilian real , euro , indian rupee and the south african rand . based on 2012 exchange rates and operating results , if the u.s . dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase between 3% ( 3 % ) and 5% ( 5 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2012 levels . the functional currency of our foreign operations is generally their respective local currency . assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented . the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets . our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk . however , certain subsidiaries may enter into transactions in currencies other than their functional currency . assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement . currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses . we have not entered into a material amount of foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates. .
Question: what was the ratio of the 10% ( 10 % ) increase/ ( decrease ) in interest rates to the in fair market value as of december 312012
Answer: | -1.03273 |
FINQA4365 | Please answer the given financial question based on the context.
Context: 39 annual report 2010 duke realty corporation | | related party transactions we provide property and asset management , leasing , construction and other tenant related services to unconsolidated companies in which we have equity interests . for the years ended december 31 , 2010 , 2009 and 2008 , respectively , we earned management fees of $ 7.6 million , $ 8.4 million and $ 7.8 million , leasing fees of $ 2.7 million , $ 4.2 million and $ 2.8 million and construction and development fees of $ 10.3 million , $ 10.2 million and $ 12.7 million from these companies . we recorded these fees based on contractual terms that approximate market rates for these types of services , and we have eliminated our ownership percentages of these fees in the consolidated financial statements . commitments and contingencies we have guaranteed the repayment of $ 95.4 million of economic development bonds issued by various municipalities in connection with certain commercial developments . we will be required to make payments under our guarantees to the extent that incremental taxes from specified developments are not sufficient to pay the bond debt service . management does not believe that it is probable that we will be required to make any significant payments in satisfaction of these guarantees . we also have guaranteed the repayment of secured and unsecured loans of six of our unconsolidated subsidiaries . at december 31 , 2010 , the maximum guarantee exposure for these loans was approximately $ 245.4 million . with the exception of the guarantee of the debt of 3630 peachtree joint venture , for which we recorded a contingent liability in 2009 of $ 36.3 million , management believes it probable that we will not be required to satisfy these guarantees . we lease certain land positions with terms extending to december 2080 , with a total obligation of $ 103.6 million . no payments on these ground leases are material in any individual year . we are subject to various legal proceedings and claims that arise in the ordinary course of business . in the opinion of management , the amount of any ultimate liability with respect to these actions will not materially affect our consolidated financial statements or results of operations . contractual obligations at december 31 , 2010 , we were subject to certain contractual payment obligations as described in the table below: .
|contractual obligations|payments due by period ( in thousands ) total|payments due by period ( in thousands ) 2011|payments due by period ( in thousands ) 2012|payments due by period ( in thousands ) 2013|payments due by period ( in thousands ) 2014|payments due by period ( in thousands ) 2015|payments due by period ( in thousands ) thereafter|
|long-term debt ( 1 )|$ 5413606|$ 629781|$ 548966|$ 725060|$ 498912|$ 473417|$ 2537470|
|lines of credit ( 2 )|214225|28046|9604|176575|-|-|-|
|share of debt of unconsolidated joint ventures ( 3 )|447573|87602|27169|93663|34854|65847|138438|
|ground leases|103563|2199|2198|2169|2192|2202|92603|
|operating leases|2704|840|419|395|380|370|300|
|development and construction backlog costs ( 4 )|521041|476314|44727|-|-|-|-|
|other|1967|1015|398|229|90|54|181|
|total contractual obligations|$ 6704679|$ 1225797|$ 633481|$ 998091|$ 536428|$ 541890|$ 2768992|
( 1 ) our long-term debt consists of both secured and unsecured debt and includes both principal and interest . interest expense for variable rate debt was calculated using the interest rates as of december 31 , 2010 . ( 2 ) our unsecured lines of credit consist of an operating line of credit that matures february 2013 and the line of credit of a consolidated subsidiary that matures july 2011 . interest expense for our unsecured lines of credit was calculated using the most recent stated interest rates that were in effect . ( 3 ) our share of unconsolidated joint venture debt includes both principal and interest . interest expense for variable rate debt was calculated using the interest rate at december 31 , 2010 . ( 4 ) represents estimated remaining costs on the completion of owned development projects and third-party construction projects. .
Question: what is the total long-term debt as a percentage of total contractual obligations?
Answer: | 80.7437 |
FINQA4366 | Please answer the given financial question based on the context.
Context: the diluted earnings per share calculation excludes stock options , sars , restricted stock and units and performance units and stock that were anti-dilutive . shares underlying the excluded stock options and sars totaled 2.6 million , 10.3 million and 10.2 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . for the year ended december 31 , 2016 , 4.5 million shares of restricted stock and restricted stock units and performance units and performance stock were excluded . 10 . supplemental cash flow information net cash paid for interest and income taxes was as follows for the years ended december 31 , 2017 , 2016 and 2015 ( in thousands ) : .
||2017|2016|2015|
|interest net of capitalized interest|$ 275305|$ 252030|$ 222088|
|income taxes net of refunds received|$ 188946|$ -39293 ( 39293 )|$ 41108|
eog's accrued capital expenditures at december 31 , 2017 , 2016 and 2015 were $ 475 million , $ 388 million and $ 416 million , respectively . non-cash investing activities for the year ended december 31 , 2017 included non-cash additions of $ 282 million to eog's oil and gas properties as a result of property exchanges . non-cash investing activities for the year ended december 31 , 2016 included $ 3834 million in non-cash additions to eog's oil and gas properties related to the yates transaction ( see note 17 ) . 11 . business segment information eog's operations are all crude oil and natural gas exploration and production related . the segment reporting topic of the asc establishes standards for reporting information about operating segments in annual financial statements . operating segments are defined as components of an enterprise about which separate financial information is available and evaluated regularly by the chief operating decision maker , or decision-making group , in deciding how to allocate resources and in assessing performance . eog's chief operating decision-making process is informal and involves the chairman of the board and chief executive officer and other key officers . this group routinely reviews and makes operating decisions related to significant issues associated with each of eog's major producing areas in the united states , trinidad , the united kingdom and china . for segment reporting purposes , the chief operating decision maker considers the major united states producing areas to be one operating segment. .
Question: what is the increase observed in accrued capital expenditures during 2016 and 2017?
Answer: | 0.22423 |
FINQA4367 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 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 $ 27.51 billion and $ 29.24 billion as of december 2014 and december 2013 , respectively . the credit loss protection on loan commitments provided by smfg is generally limited to 95% ( 95 % ) of the first loss the firm realizes on such commitments , up to a maximum of approximately $ 950 million . in addition , subject to the satisfaction of certain conditions , upon the firm 2019s request , smfg will provide protection for 70% ( 70 % ) of additional losses on such commitments , up to a maximum of $ 1.13 billion , of which $ 768 million and $ 870 million of protection had been provided as of december 2014 and december 2013 , respectively . the firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by smfg . these instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity , or credit default swaps that reference a market index . warehouse financing . the firm provides financing to clients who warehouse financial assets . these arrangements are secured by the warehoused assets , primarily consisting of corporate loans and commercial mortgage loans . contingent and forward starting resale and securities borrowing agreements/forward starting repurchase and secured lending agreements the firm enters into resale and securities borrowing agreements and 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 the firm 2019s investment commitments of $ 5.16 billion and $ 7.12 billion as of december 2014 and december 2013 , respectively , include commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages . of these amounts , $ 2.87 billion and $ 5.48 billion as of december 2014 and december 2013 , respectively , relate to commitments to invest in funds managed by the firm . if these commitments are called , they would be funded at market value on the date of investment . leases the firm has contractual obligations under long-term noncancelable lease agreements , principally for office space , expiring on various dates through 2069 . certain agreements are subject to periodic escalation provisions for increases in real estate taxes and other charges . the table below presents future minimum rental payments , net of minimum sublease rentals . $ in millions december 2014 .
|$ in millions|as of december 2014|
|2015|$ 321|
|2016|292|
|2017|274|
|2018|226|
|2019|190|
|2020 - thereafter|870|
|total|$ 2173|
rent charged to operating expense was $ 309 million for 2014 , $ 324 million for 2013 and $ 374 million for 2012 . operating leases include office space held in excess of current requirements . rent expense relating to space held for growth is included in 201coccupancy . 201d the firm records a liability , based on the fair value of the remaining lease rentals reduced by any potential or existing sublease rentals , for leases where the firm has ceased using the space and management has concluded that the firm will not derive any future economic benefits . costs to terminate a lease before the end of its term are recognized and measured at fair value on termination . goldman sachs 2014 annual report 165 .
Question: what percentage of future minimum rental payments is due after 2019?
Answer: | 0.40037 |
FINQA4368 | Please answer the given financial question based on the context.
Context: performance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 25 , 2009 through october 26 , 2014 . this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period . the comparison assumes $ 100 was invested on october 25 , 2009 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any . dollar amounts in the graph are rounded to the nearest whole dollar . the performance shown in the graph represents past performance and should not be considered an indication of future performance . comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index 201cs&p 201d is a registered trademark of standard & poor 2019s financial services llc , a subsidiary of the mcgraw-hill companies , inc. .
||10/25/2009|10/31/2010|10/30/2011|10/28/2012|10/27/2013|10/26/2014|
|applied materials|100.00|97.43|101.85|88.54|151.43|183.29|
|s&p 500 index|100.00|116.52|125.94|145.09|184.52|216.39|
|rdg semiconductor composite index|100.00|121.00|132.42|124.95|163.20|207.93|
dividends during fiscal 2014 , applied 2019s board of directors declared four quarterly cash dividends of $ 0.10 per share each . during fiscal 2013 , applied 2019s board of directors declared three quarterly cash dividends of $ 0.10 per share each and one quarterly cash dividend of $ 0.09 per share . during fiscal 2012 , applied 2019s board of directors declared three quarterly cash dividends of $ 0.09 per share each and one quarterly cash dividend of $ 0.08 . dividends declared during fiscal 2014 , 2013 and 2012 totaled $ 487 million , $ 469 million and $ 438 million , respectively . applied currently anticipates that it will continue to pay cash dividends on a quarterly basis in the future , although the declaration and amount of any future cash dividends are at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination that cash dividends are in the best interests of applied 2019s stockholders . $ 100 invested on 10/25/09 in stock or 10/31/09 in index , including reinvestment of dividends . indexes calculated on month-end basis . and the rdg semiconductor composite index 183145 97 102 121 132 10/25/09 10/31/10 10/30/11 10/28/12 10/27/13 10/26/14 applied materials , inc . s&p 500 rdg semiconductor composite .
Question: how much more return was given for investing in the overall market rather than applied materials from 2009 to 2014 ? ( in a percentage )
Answer: | 33.1 |
FINQA4369 | Please answer the given financial question based on the context.
Context: intel corporation notes to consolidated financial statements ( continued ) the aggregate fair value of awards that vested in 2015 was $ 1.5 billion ( $ 1.1 billion in 2014 and $ 1.0 billion in 2013 ) , which represents the market value of our common stock on the date that the rsus vested . the grant-date fair value of awards that vested in 2015 was $ 1.1 billion ( $ 949 million in 2014 and $ 899 million in 2013 ) . the number of rsus vested includes shares of common stock that we withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements . rsus that are expected to vest are net of estimated future forfeitures . as of december 26 , 2015 , there was $ 1.8 billion in unrecognized compensation costs related to rsus granted under our equity incentive plans . we expect to recognize those costs over a weighted average period of 1.2 years . stock option awards as of december 26 , 2015 , options outstanding that have vested and are expected to vest were as follows : number of options ( in millions ) weighted average exercise weighted average remaining contractual ( in years ) aggregate intrinsic ( in millions ) .
||number ofoptions ( in millions )|weightedaverageexerciseprice|weightedaverageremainingcontractualterm ( in years )|aggregateintrinsicvalue ( in millions )|
|vested|43.8|$ 21.07|1.8|$ 609|
|expected to vest|9.6|$ 24.07|4.1|$ 104|
|total|53.4|$ 21.61|2.2|$ 713|
aggregate intrinsic value represents the difference between the exercise price and $ 34.98 , the closing price of our common stock on december 24 , 2015 , as reported on the nasdaq global select market , for all in-the-money options outstanding . options outstanding that are expected to vest are net of estimated future option forfeitures . options with a fair value of $ 42 million completed vesting in 2015 ( $ 68 million in 2014 and $ 186 million in 2013 ) . as of december 26 , 2015 , there was $ 13 million in unrecognized compensation costs related to stock options granted under our equity incentive plans . we expect to recognize those costs over a weighted average period of approximately eight months. .
Question: as of december 26 , 2015 , what was the expected unrecognized compensation costs to be recognized per year in billions
Answer: | 1.5 |
FINQA4370 | Please answer the given financial question based on the context.
Context: in 2017 , cash flows provided by operations increased $ 160 million , primarily due to an increase in net income after non-cash adjustments , including the impact of the enactment of the tcja , and an increase in cash flows from working capital . the main factors contributing to the net income increase are described in the 201cconsolidated results of operations 201d section and include higher operating revenues , partially offset by higher income taxes due to a $ 125 million re-measurement charge resulting from the impact of the change in the federal tax rate on the company 2019s deferred income taxes from the enactment of the tcja . the increase in non-cash activities was mainly attributable to the increase in deferred income taxes , as mentioned above , and an increase in depreciation and amortization due to additional utility plant placed in service . the change in working capital was principally due to ( i ) the timing of accounts payable and accrued liabilities , including the accrual recorded during 2016 for the binding global agreement in principle to settle claims associated with the freedom industries chemical spill in west virginia , ( ii ) a decrease in unbilled revenues as a result of our military services group achieving significant capital project milestones during 2016 , and ( iii ) a change in other current assets and liabilities , including the decrease in other current assets associated with the termination of our four forward starting swap agreements and timing of payments clearing our cash accounts . the company expects to make pension contributions to the plan trusts of up to $ 31 million in 2019 . in addition , we estimate that contributions will amount to $ 32 million , $ 29 million , $ 29 million and $ 29 million in 2020 , 2021 , 2022 and 2023 , respectively . actual amounts contributed could change materially from these estimates as a result of changes in assumptions and actual investment returns , among other factors . cash flows used in investing activities the following table provides a summary of the major items affecting our cash flows used in investing activities: .
|( in millions )|for the years ended december 31 , 2018|for the years ended december 31 , 2017|for the years ended december 31 , 2016|
|net capital expenditures|$ -1586 ( 1586 )|$ -1434 ( 1434 )|$ -1311 ( 1311 )|
|acquisitions|-398 ( 398 )|-177 ( 177 )|-204 ( 204 )|
|other investing activities net ( a )|-52 ( 52 )|-61 ( 61 )|-75 ( 75 )|
|net cash flows used in investing activities|$ -2036 ( 2036 )|$ -1672 ( 1672 )|$ -1590 ( 1590 )|
( a ) includes removal costs from property , plant and equipment retirements and proceeds from sale of assets . in 2018 and 2017 , cash flows used in investing activities increased primarily due to an increase in our regulated capital expenditures , principally from incremental investments associated with the replacement and renewal of our transmission and distribution infrastructure in our regulated businesses , as well as acquisitions in both our regulated businesses and market-based businesses , as discussed below . our infrastructure investment plan consists of both infrastructure renewal programs , where we replace infrastructure , as needed , and major capital investment projects , where we construct new water and wastewater treatment and delivery facilities to meet new customer growth and water quality regulations . our projected capital expenditures and other investments are subject to periodic review and revision to reflect changes in economic conditions and other factors. .
Question: what were total net capital expenditures in millions for the three year period\\n?
Answer: | -4331.0 |
FINQA4371 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis of financial condition and results of operations 82 fifth third bancorp to 100 million shares of its outstanding common stock in the open market or in privately negotiated transactions , and to utilize any derivative or similar instrument to affect share repurchase transactions . this share repurchase authorization replaced the board 2019s previous authorization . on may 21 , 2013 , the bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the bancorp purchased 25035519 shares , or approximately $ 539 million , of its outstanding common stock on may 24 , 2013 . the bancorp repurchased the shares of its common stock as part of its 100 million share repurchase program previously announced on march 19 , 2013 . at settlement of the forward contract on october 1 , 2013 , the bancorp received an additional 4270250 shares which were recorded as an adjustment to the basis in the treasury shares purchased on the acquisition date . on november 13 , 2013 , the bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the bancorp purchased 8538423 shares , or approximately $ 200 million , of its outstanding common stock on november 18 , 2013 . the bancorp repurchased the shares of its common stock as part of its board approved 100 million share repurchase program previously announced on march 19 , 2013 . the bancorp expects the settlement of the transaction to occur on or before february 28 , 2014 . on december 10 , 2013 , the bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the bancorp purchased 19084195 shares , or approximately $ 456 million , of its outstanding common stock on december 13 , 2013 . the bancorp repurchased the shares of its common stock as part of its board approved 100 million share repurchase program previously announced on march 19 , 2013 . the bancorp expects the settlement of the transaction to occur on or before march 26 , 2014 . on january 28 , 2014 , the bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the bancorp purchased 3950705 shares , or approximately $ 99 million , of its outstanding common stock on january 31 , 2014 . the bancorp repurchased the shares of its common stock as part of its board approved 100 million share repurchase program previously announced on march 19 , 2013 . the bancorp expects the settlement of the transaction to occur on or before march 26 , 2014 . table 61 : share repurchases .
|for the years ended december 31|2013|2012|2011|
|shares authorized for repurchase at january 1|63046682|19201518|19201518|
|additional authorizations ( a )|45541057|86269178|-|
|share repurchases ( b )|-65516126 ( 65516126 )|-42424014 ( 42424014 )|-|
|shares authorized for repurchase at december 31|43071613|63046682|19201518|
|average price paid per share|$ 18.80|$ 14.82|n/a|
( a ) in march 2013 , the bancorp announced that its board of directors had authorized management to purchase 100 million shares of the bancorp 2019s common stock through the open market or in any private transaction . the authorization does not include specific price targets or an expiration date . this share repurchase authorization replaces the board 2019s previous authorization pursuant to which approximately 54 million shares remained available for repurchase by the bancorp . ( b ) excludes 1863097 , 2059003 and 1164254 shares repurchased during 2013 , 2012 , and 2011 , respectively , in connection with various employee compensation plans . these repurchases are not included in the calculation for average price paid and do not count against the maximum number of shares that may yet be repurchased under the board of directors 2019 authorization . stress tests and ccar the frb issued guidelines known as ccar , which provide a common , conservative approach to ensure bhcs , including the bancorp , hold adequate capital to maintain ready access to funding , continue operations and meet their obligations to creditors and counterparties , and continue to serve as credit intermediaries , even in adverse conditions . the ccar process requires the submission of a comprehensive capital plan that assumes a minimum planning horizon of nine quarters under various economic scenarios . the mandatory elements of the capital plan are an assessment of the expected use and sources of capital over the planning horizon , a description of all planned capital actions over the planning horizon , a discussion of any expected changes to the bancorp 2019s business plan that are likely to have a material impact on its capital adequacy or liquidity , a detailed description of the bancorp 2019s process for assessing capital adequacy and the bancorp 2019s capital policy . the capital plan must reflect the revised capital framework that the frb adopted in connection with the implementation of the basel iii accord , including the framework 2019s minimum regulatory capital ratios and transition arrangements . the frb 2019s review of the capital plan will assess the comprehensiveness of the capital plan , the reasonableness of the assumptions and the analysis underlying the capital plan . additionally , the frb reviews the robustness of the capital adequacy process , the capital policy and the bancorp 2019s ability to maintain capital above the minimum regulatory capital ratios as they transition to basel iii and above a basel i tier 1 common ratio of 5 percent under baseline and stressful conditions throughout a nine- quarter planning horizon . the frb issued stress testing rules that implement section 165 ( i ) ( 1 ) and ( i ) ( 2 ) of the dfa . large bhcs , including the bancorp , are subject to the final stress testing rules . the rules require both supervisory and company-run stress tests , which provide forward- looking information to supervisors to help assess whether institutions have sufficient capital to absorb losses and support operations during adverse economic conditions . in march of 2013 , the frb announced it had completed the 2013 ccar . for bhcs that proposed capital distributions in their plan , the frb either objected to the plan or provided a non- objection whereby the frb concurred with the proposed 2013 capital distributions . the frb indicated to the bancorp that it did not object to the following proposed capital actions for the period beginning april 1 , 2013 and ending march 31 , 2014 : f0b7 increase in the quarterly common stock dividend to $ 0.12 per share ; f0b7 repurchase of up to $ 750 million in trups subject to the determination of a regulatory capital event and replacement with the issuance of a similar amount of tier ii-qualifying subordinated debt ; f0b7 conversion of the $ 398 million in outstanding series g 8.5% ( 8.5 % ) convertible preferred stock into approximately 35.5 million common shares issued to the holders . if this conversion were to occur , the bancorp would intend to repurchase common shares equivalent to those issued in the conversion up to $ 550 million in market value , and issue $ 550 million in preferred stock; .
Question: what is the growth rate in the average price paid per share from 2012 to 2013?
Answer: | 0.26856 |
FINQA4372 | Please answer the given financial question based on the context.
Context: westrock company notes to consolidated financial statements fffd ( continued ) at september 30 , 2018 and september 30 , 2017 , gross net operating losses for foreign reporting purposes of approximately $ 698.4 million and $ 673.7 million , respectively , were available for carryforward . a majority of these loss carryforwards generally expire between fiscal 2020 and 2038 , while a portion have an indefinite carryforward . the tax effected values of these net operating losses are $ 185.8 million and $ 182.6 million at september 30 , 2018 and 2017 , respectively , exclusive of valuation allowances of $ 161.5 million and $ 149.6 million at september 30 , 2018 and 2017 , respectively . at september 30 , 2018 and 2017 , we had state tax credit carryforwards of $ 64.8 million and $ 54.4 million , respectively . these state tax credit carryforwards generally expire within 5 to 10 years ; however , certain state credits can be carried forward indefinitely . valuation allowances of $ 56.1 million and $ 47.3 million at september 30 , 2018 and 2017 , respectively , have been provided on these assets . these valuation allowances have been recorded due to uncertainty regarding our ability to generate sufficient taxable income in the appropriate taxing jurisdiction . the following table represents a summary of the valuation allowances against deferred tax assets for fiscal 2018 , 2017 and 2016 ( in millions ) : .
||2018|2017|2016|
|balance at beginning of fiscal year|$ 219.1|$ 177.2|$ 100.2|
|increases|50.8|54.3|24.8|
|allowances related to purchase accounting ( 1 )|0.1|12.4|63.0|
|reductions|-40.6 ( 40.6 )|-24.8 ( 24.8 )|-10.8 ( 10.8 )|
|balance at end of fiscal year|$ 229.4|$ 219.1|$ 177.2|
( 1 ) amounts in fiscal 2018 and 2017 relate to the mps acquisition . adjustments in fiscal 2016 relate to the combination and the sp fiber acquisition . consistent with prior years , we consider a portion of our earnings from certain foreign subsidiaries as subject to repatriation and we provide for taxes accordingly . however , we consider the unremitted earnings and all other outside basis differences from all other foreign subsidiaries to be indefinitely reinvested . accordingly , we have not provided for any taxes that would be due . as of september 30 , 2018 , we estimate our outside basis difference in foreign subsidiaries that are considered indefinitely reinvested to be approximately $ 1.5 billion . the components of the outside basis difference are comprised of purchase accounting adjustments , undistributed earnings , and equity components . except for the portion of our earnings from certain foreign subsidiaries where we provided for taxes , we have not provided for any taxes that would be due upon the reversal of the outside basis differences . however , in the event of a distribution in the form of dividends or dispositions of the subsidiaries , we may be subject to incremental u.s . income taxes , subject to an adjustment for foreign tax credits , and withholding taxes or income taxes payable to the foreign jurisdictions . as of september 30 , 2018 , the determination of the amount of unrecognized deferred tax liability related to any remaining undistributed foreign earnings not subject to the transition tax and additional outside basis differences is not practicable. .
Question: how much has the balance increased in a percentage from 2016 to 2018?
Answer: | 0.29458 |
FINQA4373 | Please answer the given financial question based on the context.
Context: higher in the first half of the year , but declined dur- ing the second half of the year reflecting the pass- through to customers of lower resin input costs . however , average margins benefitted from a more favorable mix of products sold . raw material costs were lower , primarily for resins . freight costs were also favorable , while operating costs increased . shorewood sales volumes in 2009 declined from 2008 levels reflecting weaker demand in the home entertainment segment and a decrease in tobacco segment orders as customers have shifted pro- duction outside of the united states , partially offset by higher shipments in the consumer products segment . average sales margins improved reflecting a more favorable mix of products sold . raw material costs were higher , but were partially offset by lower freight costs . operating costs were favorable , reflect- ing benefits from business reorganization and cost reduction actions taken in 2008 and 2009 . charges to restructure operations totaled $ 7 million in 2009 and $ 30 million in 2008 . entering 2010 , coated paperboard sales volumes are expected to increase , while average sales price real- izations should be comparable to 2009 fourth-quarter levels . raw material costs are expected to be sig- nificantly higher for wood , energy and chemicals , but planned maintenance downtime costs will decrease . foodservice sales volumes are expected to remain about flat , but average sales price realizations should improve slightly . input costs for resins should be higher , but will be partially offset by lower costs for bleached board . shorewood sales volumes are expected to decline reflecting seasonal decreases in home entertainment segment shipments . operating costs are expected to be favorable reflecting the benefits of business reorganization efforts . european consumer packaging net sales in 2009 were $ 315 million compared with $ 300 million in 2008 and $ 280 million in 2007 . operating earnings in 2009 of $ 66 million increased from $ 22 million in 2008 and $ 30 million in 2007 . sales volumes in 2009 were higher than in 2008 reflecting increased ship- ments to export markets . average sales margins declined due to increased shipments to lower- margin export markets and lower average sales prices in western europe . entering 2010 , sales volumes for the first quarter are expected to remain strong . average margins should improve reflecting increased sales price realizations and a more favorable geographic mix of products sold . input costs are expected to be higher due to increased wood prices in poland and annual energy tariff increases in russia . asian consumer packaging net sales were $ 545 million in 2009 compared with $ 390 million in 2008 and $ 330 million in 2007 . operating earnings in 2009 were $ 24 million compared with a loss of $ 13 million in 2008 and earnings of $ 12 million in 2007 . the improved operating earnings in 2009 reflect increased sales volumes , higher average sales mar- gins and lower input costs , primarily for chemicals . the loss in 2008 was primarily due to a $ 12 million charge to revalue pulp inventories at our shandong international paper and sun coated paperboard co. , ltd . joint venture and start-up costs associated with the joint venture 2019s new folding box board paper machine . distribution xpedx , our distribution business , markets a diverse array of products and supply chain services to cus- tomers in many business segments . customer demand is generally sensitive to changes in general economic conditions , although the commercial printing segment is also dependent on consumer advertising and promotional spending . distribution 2019s margins are relatively stable across an economic cycle . providing customers with the best choice and value in both products and supply chain services is a key competitive factor . additionally , efficient customer service , cost-effective logistics and focused working capital management are key factors in this segment 2019s profitability . distribution in millions 2009 2008 2007 .
|in millions|2009|2008|2007|
|sales|$ 6525|$ 7970|$ 7320|
|operating profit|50|103|108|
distribution 2019s 2009 annual sales decreased 18% ( 18 % ) from 2008 and 11% ( 11 % ) from 2007 while operating profits in 2009 decreased 51% ( 51 % ) compared with 2008 and 54% ( 54 % ) compared with 2007 . annual sales of printing papers and graphic arts supplies and equipment totaled $ 4.1 billion in 2009 compared with $ 5.2 billion in 2008 and $ 4.7 billion in 2007 , reflecting weak economic conditions in 2009 . trade margins as a percent of sales for printing papers increased from 2008 but decreased from 2007 due to a higher mix of lower margin direct ship- ments from manufacturers . revenue from packaging products was $ 1.3 billion in 2009 compared with $ 1.7 billion in 2008 and $ 1.5 billion in 2007 . trade margins as a percent of sales for packaging products were higher than in the past two years reflecting an improved product and service mix . facility supplies annual revenue was $ 1.1 billion in 2009 , essentially .
Question: what was the percentage increase in annual sales of printing papers and graphic arts supplies and equipment from 2007 to 2008?
Answer: | 0.10638 |
FINQA4374 | Please answer the given financial question based on the context.
Context: contractual obligations the following table includes aggregated information about citigroup 2019s contractual obligations that impact its short- and long-term liquidity and capital needs . the table includes information about payments due under specified contractual obligations , aggregated by type of contractual obligation . it includes the maturity profile of the company 2019s consolidated long-term debt , operating leases and other long-term liabilities . the company 2019s capital lease obligations are included in purchase obligations in the table . citigroup 2019s contractual obligations include purchase obligations that are enforceable and legally binding for the company . for the purposes of the table below , purchase obligations are included through the termination date of the respective agreements , even if the contract is renewable . many of the purchase agreements for goods or services include clauses that would allow the company to cancel the agreement with specified notice ; however , that impact is not included in the table ( unless citigroup has already notified the counterparty of its intention to terminate the agreement ) . other liabilities reflected on the company 2019s consolidated balance sheet include obligations for goods and services that have already been received , litigation settlements , uncertain tax positions , as well as other long-term liabilities that have been incurred and will ultimately be paid in cash . excluded from the following table are obligations that are generally short term in nature , including deposit liabilities and securities sold under agreements to repurchase . the table also excludes certain insurance and investment contracts subject to mortality and morbidity risks or without defined maturities , such that the timing of payments and withdrawals is uncertain . the liabilities related to these insurance and investment contracts are included on the consolidated balance sheet as insurance policy and claims reserves , contractholder funds , and separate and variable accounts . citigroup 2019s funding policy for pension plans is generally to fund to the minimum amounts required by the applicable laws and regulations . at december 31 , 2008 , there were no minimum required contributions , and no contributions are currently planned for the u.s . pension plans . accordingly , no amounts have been included in the table below for future contributions to the u.s . pension plans . for the non-u.s . plans , discretionary contributions in 2009 are anticipated to be approximately $ 167 million and this amount has been included in purchase obligations in the table below . the estimated pension plan contributions are subject to change , since contribution decisions are affected by various factors , such as market performance , regulatory and legal requirements , and management 2019s ability to change funding policy . for additional information regarding the company 2019s retirement benefit obligations , see note 9 to the consolidated financial statements on page 144. .
|in millions of dollars at year end|contractual obligations by year 2009|contractual obligations by year 2010|contractual obligations by year 2011|contractual obligations by year 2012|contractual obligations by year 2013|contractual obligations by year thereafter|
|long-term debt obligations ( 1 )|$ 88472|$ 41431|$ 42112|$ 27999|$ 25955|$ 133624|
|operating lease obligations|1470|1328|1134|1010|922|3415|
|purchase obligations|2214|750|700|444|395|1316|
|other liabilities reflected on the company 2019s consolidated balance sheet ( 2 )|38221|792|35|36|38|3193|
|total|$ 130377|$ 44301|$ 43981|$ 29489|$ 27310|$ 141548|
( 1 ) for additional information about long-term debt and trust preferred securities , see note 20 to the consolidated financial statements on page 169 . ( 2 ) relates primarily to accounts payable and accrued expenses included in other liabilities in the company 2019s consolidated balance sheet . also included are various litigation settlements. .
Question: what percentage of total contractual obligations due in 2010 are comprised of long-term debt obligations?
Answer: | 0.93522 |
FINQA4375 | Please answer the given financial question based on the context.
Context: key operating and financial activities significant operating and financial activities during 2012 include : 2022 net proved reserve additions for the e&p and osm segments combined of 389 mmboe , for a 226 percent reserve replacement 2022 increased proved liquid hydrocarbon and synthetic crude oil reserves by 316 mmbbls , for a reserve replacement of 268 percent for these commodities 2022 recorded more than 95 percent average operational availability for operated e&p assets 2022 increased e&p net sales volumes , excluding libya , by 8 percent 2022 eagle ford shale average net sales volumes of 65 mboed for december 2012 , a fourfold increase over december 2011 2022 bakken shale average net sales volumes of 29 mboed , a 71 percent increase over last year 2022 resumed sales from libya and reached pre-conflict production levels 2022 international liquid hydrocarbon sales volumes , for which average realizations have exceeded wti , were 62 percent of net e&p liquid hydrocarbon sales 2022 closed $ 1 billion of acquisitions in the core of the eagle ford shale 2022 assumed operatorship of the vilje field located offshore norway 2022 signed agreements for new exploration positions in e.g. , gabon , kenya and ethiopia 2022 issued $ 1 billion of 3-year senior notes at 0.9 percent interest and $ 1 billion of 10-year senior notes at 2.8 percent interest some significant 2013 activities through february 22 , 2013 include : 2022 closed sale of our alaska assets in january 2013 2022 closed sale of our interest in the neptune gas plant in february 2013 consolidated results of operations : 2012 compared to 2011 consolidated income before income taxes was 38 percent higher in 2012 than consolidated income from continuing operations before income taxes were in 2011 , largely due to higher liquid hydrocarbon sales volumes in our e&p segment , partially offset by lower earnings from our osm and ig segments . the 7 percent decrease in income from continuing operations included lower earnings in the u.k . and e.g. , partially offset by higher earnings in libya . also , in 2011 we were not in an excess foreign tax credit position for the entire year as we were in 2012 . the effective income tax rate for continuing operations was 74 percent in 2012 compared to 61 percent in 2011 . revenues are summarized in the following table: .
|( in millions )|2012|2011|
|e&p|$ 14084|$ 13029|
|osm|1552|1588|
|ig|2014|93|
|segment revenues|15636|14710|
|elimination of intersegment revenues|2014|-47 ( 47 )|
|unrealized gain on crude oil derivative instruments|52|2014|
|total revenues|$ 15688|$ 14663|
e&p segment revenues increased $ 1055 million from 2011 to 2012 , primarily due to higher average liquid hydrocarbon sales volumes . e&p segment revenues included a net realized gain on crude oil derivative instruments of $ 15 million in 2012 while the impact of derivatives was not significant in 2011 . see item 8 . financial statements and supplementary data 2013 note 16 to the consolidated financial statement for more information about our crude oil derivative instruments . included in our e&p segment are supply optimization activities which include the purchase of commodities from third parties for resale . see the cost of revenues discussion as revenues from supply optimization approximate the related costs . supply optimization serves to aggregate volumes in order to satisfy transportation commitments and to achieve flexibility within product .
Question: by how much did total revenue increase from 2011 to 2012?
Answer: | 0.0699 |
FINQA4376 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries management 2019s financial discussion and analysis 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 amortized over a nine-year period beginning december 2015 . see note 2 to the financial statements for further discussion of the business combination and customer credits . the volume/weather variance is primarily due to the effect of more favorable weather during the unbilled period and an increase in industrial usage , partially offset by the effect of less favorable weather on residential sales . the increase in industrial usage is primarily due to expansion projects , primarily in the chemicals industry , and increased demand from new customers , primarily in the industrial gases industry . the louisiana act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the lpsc . the tax savings results from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike . see note 3 to the financial statements for additional discussion of the settlement and benefit sharing . included in other is a provision of $ 23 million recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding , offset by a provision of $ 32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the waterford 3 replacement steam generator prudence review proceeding . see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding . entergy wholesale commodities following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) .
||amount ( in millions )|
|2015 net revenue|$ 1666|
|nuclear realized price changes|-149 ( 149 )|
|rhode island state energy center|-44 ( 44 )|
|nuclear volume|-36 ( 36 )|
|fitzpatrick reimbursement agreement|41|
|nuclear fuel expenses|68|
|other|-4 ( 4 )|
|2016 net revenue|$ 1542|
as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 124 million in 2016 primarily due to : 2022 lower realized wholesale energy prices and lower capacity prices , although the average revenue per mwh shown in the table below for the nuclear fleet is slightly higher because it includes revenues from the fitzpatrick reimbursement agreement with exelon , the amortization of the palisades below-market ppa , and vermont yankee capacity revenue . the effect of the amortization of the palisades below-market ppa and vermont yankee capacity revenue on the net revenue variance from 2015 to 2016 is minimal ; 2022 the sale of the rhode island state energy center in december 2015 . see note 14 to the financial statements for further discussion of the rhode island state energy center sale ; and 2022 lower volume in the entergy wholesale commodities nuclear fleet resulting from more refueling outage days in 2016 as compared to 2015 and larger exercise of resupply options in 2016 as compared to 2015 . see 201cnuclear .
Question: what is the growth rate in net revenue in 2016?
Answer: | -0.07443 |
FINQA4377 | Please answer the given financial question based on the context.
Context: united parcel service , inc . and subsidiaries management's discussion and analysis of financial condition and results of operations liquidity and capital resources operating activities the following is a summary of the significant sources ( uses ) of cash from operating activities ( amounts in millions ) : .
||2012|2011|2010|
|net income|$ 807|$ 3804|$ 3338|
|non-cash operating activities ( a )|7301|4505|4398|
|pension and postretirement plan contributions ( ups-sponsored plans )|-917 ( 917 )|-1436 ( 1436 )|-3240 ( 3240 )|
|income tax receivables and payables|280|236|-319 ( 319 )|
|changes in working capital and other noncurrent assets and liabilities|-148 ( 148 )|-12 ( 12 )|-340 ( 340 )|
|other operating activities|-107 ( 107 )|-24 ( 24 )|-2 ( 2 )|
|net cash from operating activities|$ 7216|$ 7073|$ 3835|
( a ) represents depreciation and amortization , gains and losses on derivative and foreign exchange transactions , deferred income taxes , provisions for uncollectible accounts , pension and postretirement benefit expense , stock compensation expense , impairment charges and other non-cash items . cash from operating activities remained strong throughout the 2010 to 2012 time period . operating cash flow was favorably impacted in 2012 , compared with 2011 , by lower contributions into our defined benefit pension and postretirement benefit plans ; however , this was partially offset by changes in our working capital position , which was impacted by overall growth in the business . the change in the cash flows for income tax receivables and payables in 2011 and 2010 was primarily related to the timing of discretionary pension contributions during 2010 , as discussed further in the following paragraph . except for discretionary or accelerated fundings of our plans , contributions to our company-sponsored pension plans have largely varied based on whether any minimum funding requirements are present for individual pension plans . 2022 in 2012 , we made a $ 355 million required contribution to the ups ibt pension plan . 2022 in 2011 , we made a $ 1.2 billion contribution to the ups ibt pension plan , which satisfied our 2011 contribution requirements and also approximately $ 440 million in contributions that would not have been required until after 2011 . 2022 in 2010 , we made $ 2.0 billion in discretionary contributions to our ups retirement and ups pension plans , and $ 980 million in required contributions to our ups ibt pension plan . 2022 the remaining contributions in the 2010 through 2012 period were largely due to contributions to our international pension plans and u.s . postretirement medical benefit plans . as discussed further in the 201ccontractual commitments 201d section , we have minimum funding requirements in the next several years , primarily related to the ups ibt pension , ups retirement and ups pension plans . as of december 31 , 2012 , the total of our worldwide holdings of cash and cash equivalents was $ 7.327 billion . approximately $ 4.211 billion of this amount was held in european subsidiaries with the intended purpose of completing the acquisition of tnt express n.v . ( see note 16 to the consolidated financial statements ) . excluding this portion of cash held outside the u.s . for acquisition-related purposes , approximately 50%-60% ( 50%-60 % ) of the remaining cash and cash equivalents are held by foreign subsidiaries throughout the year . the amount of cash held by our u.s . and foreign subsidiaries fluctuates throughout the year due to a variety of factors , including the timing of cash receipts and disbursements in the normal course of business . cash provided by operating activities in the united states continues to be our primary source of funds to finance domestic operating needs , capital expenditures , share repurchases and dividend payments to shareowners . to the extent that such amounts represent previously untaxed earnings , the cash held by foreign subsidiaries would be subject to tax if such amounts were repatriated in the form of dividends ; however , not all international cash balances would have to be repatriated in the form of a dividend if returned to the u.s . when amounts earned by foreign subsidiaries are expected to be indefinitely reinvested , no accrual for taxes is provided. .
Question: what is the growth rate in the net income from 2011 to 2012?
Answer: | -0.78785 |
FINQA4378 | Please answer the given financial question based on the context.
Context: guarantees to third parties . we have , however , issued guar- antees and comfort letters of $ 171 million for the debt and other obligations of unconsolidated affiliates , primarily for cpw . in addition , off-balance sheet arrangements are gener- ally limited to the future payments under noncancelable operating leases , which totaled $ 408 million at may 28 , at may 28 , 2006 , we had invested in four variable interest entities ( vies ) . we are the primary beneficiary ( pb ) of general mills capital , inc . ( gm capital ) , a subsidiary that we consolidate as set forth in note eight to the consoli- dated financial statements appearing on pages 43 and 44 in item eight of this report . we also have an interest in a contract manufacturer at our former facility in geneva , illi- nois . even though we are the pb , we have not consolidated this entity because it is not material to our results of oper- ations , financial condition , or liquidity at may 28 , 2006 . this entity had property and equipment of $ 50 million and long-term debt of $ 50 million at may 28 , 2006 . we are not the pb of the remaining two vies . our maximum exposure to loss from these vies is limited to the $ 150 million minority interest in gm capital , the contract manufactur- er 2019s debt and our $ 6 million of equity investments in the two remaining vies . the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period . the majority of the purchase obligations represent commitments for raw mate- rial and packaging to be utilized in the normal course of business and for consumer-directed marketing commit- ments that support our brands . the net fair value of our interest rate and equity swaps was $ 159 million at may 28 , 2006 , based on market values as of that date . future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future . other long-term obligations primarily consist of income taxes , accrued compensation and benefits , and miscella- neous liabilities . we are unable to estimate the timing of the payments for these items . we do not have significant statutory or contractual funding requirements for our defined-benefit retirement and other postretirement benefit plans . further information on these plans , including our expected contributions for fiscal 2007 , is set forth in note thirteen to the consolidated financial statements appearing on pages 47 through 50 in item eight of this report . in millions , payments due by fiscal year total 2007 2008-09 2010-11 2012 and thereafter .
|in millionspayments dueby fiscal year|total|2007|2008-09|2010-11|2012 andthereafter|
|long-term debt|$ 4546|$ 2131|$ 971|$ 55|$ 1389|
|accrued interest|152|152|2013|2013|2013|
|operating leases|408|92|142|89|85|
|purchaseobligations|2351|2068|144|75|64|
|total|$ 7457|$ 4443|$ 1257|$ 219|$ 1538|
significant accounting estimates for a complete description of our significant accounting policies , please see note one to the consolidated financial statements appearing on pages 35 through 37 in item eight of this report . our significant accounting estimates are those that have meaningful impact on the reporting of our financial condition and results of operations . these poli- cies include our accounting for trade and consumer promotion activities ; goodwill and other intangible asset impairments ; income taxes ; and pension and other postretirement benefits . trade and consumer promotion activities we report sales net of certain coupon and trade promotion costs . the consumer coupon costs recorded as a reduction of sales are based on the estimated redemption value of those coupons , as determined by historical patterns of coupon redemption and consideration of current market conditions such as competitive activity in those product categories . the trade promotion costs include payments to customers to perform merchandising activities on our behalf , such as advertising or in-store displays , discounts to our list prices to lower retail shelf prices , and payments to gain distribution of new products . the cost of these activi- ties is recognized as the related revenue is recorded , which generally precedes the actual cash expenditure . the recog- nition of these costs requires estimation of customer participation and performance levels . these estimates are made based on the quantity of customer sales , the timing and forecasted costs of promotional activities , and other factors . differences between estimated expenses and actual costs are normally insignificant and are recognized as a change in management estimate in a subsequent period . our accrued trade and consumer promotion liability was $ 339 million as of may 28 , 2006 , and $ 283 million as of may 29 , 2005 . our unit volume in the last week of each quarter is consis- tently higher than the average for the preceding weeks of the quarter . in comparison to the average daily shipments in the first 12 weeks of a quarter , the final week of each quarter has approximately two to four days 2019 worth of incre- mental shipments ( based on a five-day week ) , reflecting increased promotional activity at the end of the quarter . this increased activity includes promotions to assure that our customers have sufficient inventory on hand to support major marketing events or increased seasonal demand early in the next quarter , as well as promotions intended to help achieve interim unit volume targets . if , due to quarter-end promotions or other reasons , our customers purchase more product in any reporting period than end-consumer demand will require in future periods , our sales level in future reporting periods could be adversely affected. .
Question: what was the percent of the total expected contributions for fiscal 2007 that was long-term debt
Answer: | 0.46876 |
FINQA4379 | Please answer the given financial question based on the context.
Context: the company has elected the fair-value option where the interest-rate risk of such liabilities is economically hedged with derivative contracts or the proceeds are used to purchase financial assets that will also be accounted for at fair value through earnings . the election has been made to mitigate accounting mismatches and to achieve operational simplifications . these positions are reported in short-term borrowings and long-term debt on the company 2019s consolidated balance sheet . the majority of these non-structured liabilities are a result of the company 2019s election of the fair-value option for liabilities associated with the citi-advised structured investment vehicles ( sivs ) , which were consolidated during the fourth quarter of 2007 . the change in fair values of the sivs 2019 liabilities reported in earnings was $ 2.6 billion for the year ended december 31 , 2008 . for these non-structured liabilities the aggregate fair value is $ 263 million lower than the aggregate unpaid principal balance as of december 31 , 2008 . for all other non-structured liabilities classified as long-term debt for which the fair-value option has been elected , the aggregate unpaid principal balance exceeds the aggregate fair value of such instruments by $ 97 million as of december 31 , 2008 while the aggregate fair value exceeded the aggregate unpaid principal by $ 112 million as of december 31 , 2007 . the change in fair value of these non-structured liabilities reported a gain of $ 1.2 billion for the year ended december 31 , 2008 . the change in fair value for these non-structured liabilities is reported in principal transactions in the company 2019s consolidated statement of income . related interest expense continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement . certain mortgage loans citigroup has elected the fair-value option for certain purchased and originated prime fixed-rate and conforming adjustable-rate first mortgage loans held-for- sale . these loans are intended for sale or securitization and are hedged with derivative instruments . the company has elected the fair-value option to mitigate accounting mismatches in cases where hedge accounting is complex and to achieve operational simplifications . the fair-value option was not elected for loans held-for-investment , as those loans are not hedged with derivative instruments . this election was effective for applicable instruments originated or purchased on or after september 1 , 2007 . the following table provides information about certain mortgage loans carried at fair value : in millions of dollars december 31 , december 31 , carrying amount reported on the consolidated balance sheet $ 4273 $ 6392 aggregate fair value in excess of unpaid principal balance $ 138 $ 136 balance on non-accrual loans or loans more than 90 days past due $ 9 $ 17 aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due $ 2 $ 2014 the changes in fair values of these mortgage loans is reported in other revenue in the company 2019s consolidated statement of income . the changes in fair value during the year ended december 31 , 2008 due to instrument- specific credit risk resulted in a $ 32 million loss . the change in fair value during 2007 due to instrument-specific credit risk was immaterial . related interest income continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement . items selected for fair-value accounting in accordance with sfas 155 and sfas 156 certain hybrid financial instruments the company has elected to apply fair-value accounting under sfas 155 for certain hybrid financial assets and liabilities whose performance is linked to risks other than interest rate , foreign exchange or inflation ( e.g. , equity , credit or commodity risks ) . in addition , the company has elected fair-value accounting under sfas 155 for residual interests retained from securitizing certain financial assets . the company has elected fair-value accounting for these instruments because these exposures are considered to be trading-related positions and , therefore , are managed on a fair-value basis . in addition , the accounting for these instruments is simplified under a fair-value approach as it eliminates the complicated operational requirements of bifurcating the embedded derivatives from the host contracts and accounting for each separately . the hybrid financial instruments are classified as trading account assets , loans , deposits , trading account liabilities ( for prepaid derivatives ) , short-term borrowings or long-term debt on the company 2019s consolidated balance sheet according to their legal form , while residual interests in certain securitizations are classified as trading account assets . for hybrid financial instruments for which fair-value accounting has been elected under sfas 155 and that are classified as long-term debt , the aggregate unpaid principal exceeds the aggregate fair value by $ 1.9 billion as of december 31 , 2008 , while the aggregate fair value exceeds the aggregate unpaid principal balance by $ 460 million as of december 31 , 2007 . the difference for those instruments classified as loans is immaterial . changes in fair value for hybrid financial instruments , which in most cases includes a component for accrued interest , are recorded in principal transactions in the company 2019s consolidated statement of income . interest accruals for certain hybrid instruments classified as trading assets are recorded separately from the change in fair value as interest revenue in the company 2019s consolidated statement of income . mortgage servicing rights the company accounts for mortgage servicing rights ( msrs ) at fair value in accordance with sfas 156 . fair value for msrs is determined using an option-adjusted spread valuation approach . this approach consists of projecting servicing cash flows under multiple interest-rate scenarios and discounting these cash flows using risk-adjusted rates . the model assumptions used in the valuation of msrs include mortgage prepayment speeds and discount rates . the fair value of msrs is primarily affected by changes in prepayments that result from shifts in mortgage interest rates . in managing this risk , the company hedges a significant portion of the values of its msrs through the use of interest-rate derivative contracts , forward- purchase commitments of mortgage-backed securities , and purchased securities classified as trading . see note 23 on page 175 for further discussions regarding the accounting and reporting of msrs . these msrs , which totaled $ 5.7 billion and $ 8.4 billion as of december 31 , 2008 and december 31 , 2007 , respectively , are classified as mortgage servicing rights on citigroup 2019s consolidated balance sheet . changes in fair value of msrs are recorded in commissions and fees in the company 2019s consolidated statement of income. .
|in millions of dollars|december 31 2008|december 31 2007|
|carrying amount reported on the consolidated balance sheet|$ 4273|$ 6392|
|aggregate fair value in excess of unpaid principal balance|$ 138|$ 136|
|balance on non-accrual loans or loans more than 90 days past due|$ 9|$ 17|
|aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days pastdue|$ 2|$ 2014|
the company has elected the fair-value option where the interest-rate risk of such liabilities is economically hedged with derivative contracts or the proceeds are used to purchase financial assets that will also be accounted for at fair value through earnings . the election has been made to mitigate accounting mismatches and to achieve operational simplifications . these positions are reported in short-term borrowings and long-term debt on the company 2019s consolidated balance sheet . the majority of these non-structured liabilities are a result of the company 2019s election of the fair-value option for liabilities associated with the citi-advised structured investment vehicles ( sivs ) , which were consolidated during the fourth quarter of 2007 . the change in fair values of the sivs 2019 liabilities reported in earnings was $ 2.6 billion for the year ended december 31 , 2008 . for these non-structured liabilities the aggregate fair value is $ 263 million lower than the aggregate unpaid principal balance as of december 31 , 2008 . for all other non-structured liabilities classified as long-term debt for which the fair-value option has been elected , the aggregate unpaid principal balance exceeds the aggregate fair value of such instruments by $ 97 million as of december 31 , 2008 while the aggregate fair value exceeded the aggregate unpaid principal by $ 112 million as of december 31 , 2007 . the change in fair value of these non-structured liabilities reported a gain of $ 1.2 billion for the year ended december 31 , 2008 . the change in fair value for these non-structured liabilities is reported in principal transactions in the company 2019s consolidated statement of income . related interest expense continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement . certain mortgage loans citigroup has elected the fair-value option for certain purchased and originated prime fixed-rate and conforming adjustable-rate first mortgage loans held-for- sale . these loans are intended for sale or securitization and are hedged with derivative instruments . the company has elected the fair-value option to mitigate accounting mismatches in cases where hedge accounting is complex and to achieve operational simplifications . the fair-value option was not elected for loans held-for-investment , as those loans are not hedged with derivative instruments . this election was effective for applicable instruments originated or purchased on or after september 1 , 2007 . the following table provides information about certain mortgage loans carried at fair value : in millions of dollars december 31 , december 31 , carrying amount reported on the consolidated balance sheet $ 4273 $ 6392 aggregate fair value in excess of unpaid principal balance $ 138 $ 136 balance on non-accrual loans or loans more than 90 days past due $ 9 $ 17 aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due $ 2 $ 2014 the changes in fair values of these mortgage loans is reported in other revenue in the company 2019s consolidated statement of income . the changes in fair value during the year ended december 31 , 2008 due to instrument- specific credit risk resulted in a $ 32 million loss . the change in fair value during 2007 due to instrument-specific credit risk was immaterial . related interest income continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement . items selected for fair-value accounting in accordance with sfas 155 and sfas 156 certain hybrid financial instruments the company has elected to apply fair-value accounting under sfas 155 for certain hybrid financial assets and liabilities whose performance is linked to risks other than interest rate , foreign exchange or inflation ( e.g. , equity , credit or commodity risks ) . in addition , the company has elected fair-value accounting under sfas 155 for residual interests retained from securitizing certain financial assets . the company has elected fair-value accounting for these instruments because these exposures are considered to be trading-related positions and , therefore , are managed on a fair-value basis . in addition , the accounting for these instruments is simplified under a fair-value approach as it eliminates the complicated operational requirements of bifurcating the embedded derivatives from the host contracts and accounting for each separately . the hybrid financial instruments are classified as trading account assets , loans , deposits , trading account liabilities ( for prepaid derivatives ) , short-term borrowings or long-term debt on the company 2019s consolidated balance sheet according to their legal form , while residual interests in certain securitizations are classified as trading account assets . for hybrid financial instruments for which fair-value accounting has been elected under sfas 155 and that are classified as long-term debt , the aggregate unpaid principal exceeds the aggregate fair value by $ 1.9 billion as of december 31 , 2008 , while the aggregate fair value exceeds the aggregate unpaid principal balance by $ 460 million as of december 31 , 2007 . the difference for those instruments classified as loans is immaterial . changes in fair value for hybrid financial instruments , which in most cases includes a component for accrued interest , are recorded in principal transactions in the company 2019s consolidated statement of income . interest accruals for certain hybrid instruments classified as trading assets are recorded separately from the change in fair value as interest revenue in the company 2019s consolidated statement of income . mortgage servicing rights the company accounts for mortgage servicing rights ( msrs ) at fair value in accordance with sfas 156 . fair value for msrs is determined using an option-adjusted spread valuation approach . this approach consists of projecting servicing cash flows under multiple interest-rate scenarios and discounting these cash flows using risk-adjusted rates . the model assumptions used in the valuation of msrs include mortgage prepayment speeds and discount rates . the fair value of msrs is primarily affected by changes in prepayments that result from shifts in mortgage interest rates . in managing this risk , the company hedges a significant portion of the values of its msrs through the use of interest-rate derivative contracts , forward- purchase commitments of mortgage-backed securities , and purchased securities classified as trading . see note 23 on page 175 for further discussions regarding the accounting and reporting of msrs . these msrs , which totaled $ 5.7 billion and $ 8.4 billion as of december 31 , 2008 and december 31 , 2007 , respectively , are classified as mortgage servicing rights on citigroup 2019s consolidated balance sheet . changes in fair value of msrs are recorded in commissions and fees in the company 2019s consolidated statement of income. .
Question: what was the percentage change in the carrying amount reported on the consolidated balance sheet from 2007 to 2008?
Answer: | -0.33151 |
FINQA4380 | Please answer the given financial question based on the context.
Context: aeronautics 2019 operating profit for 2011 increased $ 132 million , or 9% ( 9 % ) , compared to 2010 . the increase primarily was attributable to approximately $ 115 million of higher operating profit on c-130 programs due to increased volume and the retirement of risks ; increased volume and risk retirements on f-16 programs of about $ 50 million and c-5 programs of approximately $ 20 million ; and about $ 70 million due to risk retirements on other aeronautics sustainment activities in 2011 . these increases partially were offset by a decline in operating profit of approximately $ 75 million on the f-22 program and f-35 development contract primarily due to lower volume and about $ 55 million on other programs , including f-35 lrip , primarily due to lower profit rate adjustments in 2011 compared to 2010 . adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 90 million higher in 2011 compared to 2010 . backlog backlog decreased in 2012 compared to 2011 mainly due to lower orders on f-35 contracts and c-130 programs , partially offset by higher orders on f-16 programs . backlog increased in 2011 compared to 2010 mainly due to higher orders on f-35 contracts , which partially were offset by higher sales volume on the c-130 programs . trends we expect aeronautics will experience a mid single digit percentage range decline in net sales for 2013 as compared to 2012 . a decrease in net sales from a decline in f-16 and c-130j aircraft deliveries is expected to be partially offset by an increase in net sales volume on f-35 lrip contracts . operating profit is projected to decrease at a high single digit percentage range from 2012 levels due to the expected decline in net sales as well as changes in aircraft mix , resulting in a slight decline in operating margins between the years . information systems & global solutions our is&gs business segment provides management services , integrated information technology solutions , and advanced technology systems and expertise across a broad spectrum of applications for civil , defense , intelligence , and other government customers . is&gs has a portfolio of many smaller contracts as compared to our other business segments . is&gs has been impacted by the continuing downturn in the federal information technology budgets and the impact of the continuing resolution that was effective on october 1 , 2012 , the start of the u.s . government 2019s fiscal year . is&gs 2019 operating results included the following ( in millions ) : .
||2012|2011|2010|
|net sales|$ 8846|$ 9381|$ 9921|
|operating profit|808|874|814|
|operating margins|9.1% ( 9.1 % )|9.3% ( 9.3 % )|8.2% ( 8.2 % )|
|backlog at year-end|8700|9300|9700|
2012 compared to 2011 is&gs 2019 net sales for 2012 decreased $ 535 million , or 6% ( 6 % ) , compared to 2011 . the decrease was attributable to lower net sales of approximately $ 485 million due to the substantial completion of various programs during 2011 ( primarily jtrs ; odin ; and u.k . census ) ; and about $ 255 million due to lower volume on numerous other programs ( primarily hanford ; warfighter information network-tactical ( win-t ) ; command , control , battle management and communications ( c2bmc ) ; and transportation worker identification credential ( twic ) ) . partially offsetting the decreases were higher net sales of approximately $ 140 million from qtc , which was acquired early in the fourth quarter of 2011 ; and about $ 65 million from increased activity on numerous other programs , primarily federal cyber security programs and persistent threat detection system ( ptds ) operational support . is&gs 2019 operating profit for 2012 decreased $ 66 million , or 8% ( 8 % ) , compared to 2011 . the decrease was attributable to lower operating profit of approximately $ 50 million due to the favorable impact of the odin contract completion in 2011 ; about $ 25 million due to an increase in reserves for performance issues related to an international airborne surveillance system in 2012 ; and approximately $ 20 million due to lower volume on certain programs ( primarily c2bmc and win-t ) . partially offsetting the decreases was an increase in operating profit due to higher risk retirements of approximately $ 15 million from the twic program ; and about $ 10 million due to increased activity on numerous other programs , primarily federal cyber security programs and ptds operational support . operating profit for the jtrs program was comparable as a decrease in volume was offset by a decrease in reserves . adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 20 million higher for 2012 compared to 2011. .
Question: what was the percent of the lowered net sales in 2012 attributable to the substantial completion of various programs during 2011 \\n\\n
Answer: | 0.90654 |
FINQA4381 | Please answer the given financial question based on the context.
Context: stock total return performance the following graph compares our total return to stockholders with the returns of the standard & poor 2019s composite 500 index ( 201cs&p 500 201d ) and the dow jones us select health care providers index ( 201cpeer group 201d ) for the five years ended december 31 , 2018 . the graph assumes an investment of $ 100 in each of our common stock , the s&p 500 , and the peer group on december 31 , 2013 , and that dividends were reinvested when paid. .
||12/31/2013|12/31/2014|12/31/2015|12/31/2016|12/31/2017|12/31/2018|
|hum|$ 100|$ 140|$ 176|$ 202|$ 247|$ 287|
|s&p 500|$ 100|$ 114|$ 115|$ 129|$ 157|$ 150|
|peer group|$ 100|$ 128|$ 135|$ 137|$ 173|$ 191|
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .
Question: what was the ratio of the stock total return performance for hum to s&p 500 at 12/31/2016
Answer: | 1.56589 |
FINQA4382 | Please answer the given financial question based on the context.
Context: z i m m e r h o l d i n g s , i n c . a n d s u b s i d i a r i e s 2 0 0 4 f o r m 1 0 - k for the same 2003 period . amortization expense increased togross profit $ 39.1 million , or 1.3 percent of sales , during the year ended gross profit as a percentage of net sales was december 31 , 2004 compared to $ 10.9 million , or less than 73.8 percent in 2004 , compared to 72.8 percent in 2003 and 1 percent of sales , during the year ended december 31 , 2003 . 68.1 percent for the three month period ended december 31 , the increase was primarily due to amortization expense 2003 ( the first quarter of combined zimmer and centerpulse related to centerpulse and implex finite lived intangible operations ) . the following table reconciles the gross margin assets . in addition , during 2004 the company continued to for the year ended december 31 , 2004 and for the three introduce or expand strategic programs and activities . in month period ended december 31 , 2003 . 2004 , the zimmer institute and its satellite locations were well utilized with over 1400 surgeons trained , compared tothree month period ended december 31 , 2003 500 surgeons trained in 2003 . these surgeon training costsgross margin 68.1% ( 68.1 % ) are recognized in sg&a . the company also recognizedinventory step-up charge 4.1 approximately $ 5 million of sarbanes-oxley complianceincreased average selling prices 1.8 expenses , including consultant fees and increased audit fees.operating segment and product category mix 0.2 these increases were partially offset by expense synergiesother ( 0.4 ) realized from the centerpulse acquisition and controlled .
|three month period ended december 31 2003 gross margin|68.1% ( 68.1 % )|
|inventory step-up charge|4.1|
|increased average selling prices|1.8|
|operating segment and product category mix|0.2|
|other|-0.4 ( 0.4 )|
|year ended december 31 2004 gross margin|73.8% ( 73.8 % )|
spending . the company has begun to realize synergies from the centerpulse acquisition and expects to pursue additionaldecreased centerpulse and implex inventory step-up synergy opportunities . the company estimates that over thecharges as a percentage of net sales during 2004 next two years it will be able to reduce annual sg&a as a ( $ 59.4 million , or 2.0 percent of net sales ) compared to the percentage of net sales to 38.9 percent or lower , representingthree month period ended december 31 , 2003 ( $ 42.7 million , a 200 basis point improvement over the fourth quarter ofor 6.1 percent of net sales ) and increases in average selling 2003 ( the first quarter of combined zimmer and centerpulseprices were the primary contributors to improved gross operations ) .margins . in addition , operating segment mix and product acquisition and integration expenses related to thecategory mix both had a positive impact on gross margins acquisitions of centerpulse and implex were $ 81.1 milliondue to higher sales growth in the more profitable americas compared to $ 79.6 million for the same 2003 period andsegment compared to europe and asia pacific , higher sales included $ 24.4 million of sales agent and lease contractgrowth of reconstructive implants and the continued shift to termination expenses , $ 24.2 million of integration consultingpremium products . offsetting these favorable impacts were a expenses , $ 9.4 million of employee severance and retentionvariety of other items , including increased royalty expenses expenses , $ 7.8 million of professional fees , $ 5.2 million ofand higher losses on foreign exchange contracts included in personnel expenses and travel for full-time integration teamcost of products sold , partially offset by reduced members , $ 4.3 million of costs related to integrating themanufacturing costs due to automation , vertical integration company 2019s information technology systems , $ 2.9 million ofand process improvements . costs related to relocation of facilities , and $ 2.9 million of operating expenses other miscellaneous acquisition and integration expenses . r&d as a percentage of net sales was 5.6 percent for operating profit , income taxes and net earnings years ended december 31 , 2004 and 2003 . r&d increased to operating profit for the year ended december 31 , 2004$ 166.7 million from $ 105.8 million reflecting a full year of increased 69 percent to $ 763.2 million from $ 450.7 million incenterpulse research and development expenses and the comparable 2003 period . operating profit growth wasincreased spending on active projects focused on areas of driven by zimmer standalone sales growth , operating profitstrategic significance . the company 2019s pipeline includes 146 contributed by centerpulse , effectively controlled operatingprojects with a total investment equal to or greater than expenses and the absence of in-process research and$ 1 million . of the 146 projects , approximately two-thirds development expense in 2004 compared to $ 11.2 million ininvolve new platforms , mis or other technologies . for 2003 . these favorable items were partially offset byexample , the company 2019s orthobiological research group in centerpulse and implex inventory step-up of $ 59.4 million inaustin , texas is developing innovative solutions for hip 2004 compared to $ 42.7 million in 2003 and intangible assetfracture and cartilage regeneration . during 2004 , the amortization of $ 39.1 million in 2004 versus $ 10.9 million incompany delivered more than 40 major development projects 2003.to market . the company has strategically targeted r&d the effective tax rate on earnings before income taxesspending to be at the high end of what management believes minority interest and cumulative effect of change into be an average of 4-6 percent for the industry . the accounting principle decreased to 25.9 percent for the yearcompany expects over the next few years to invest in ended december 31 , 2004 from 33.6 percent for the sameresearch and development at approximately 5.5 percent to period in 2003 . a major component of the decrease6 percent of sales . ( 4.7 percent , or $ 34.5 million ) was the result of revaluingsg&a as a percentage of net sales was 39.9 percent for deferred taxes of acquired centerpulse operations due to athe year ended december 31 , 2004 compared to 38.8 percent reduction in the ongoing swiss tax rate . the major reasons .
Question: what was the total change in gross margins between december 31 , 2003 and december 312004?
Answer: | 1.0837 |
FINQA4383 | Please answer the given financial question based on the context.
Context: the contractual maturities of held-to-maturity securities as of january 30 , 2009 were in excess of three years and were $ 31.4 million at cost and $ 28.9 million at fair value , respectively . for the successor year ended january 30 , 2009 and period ended february 1 , 2008 , and the predecessor period ended july 6 , 2007 and year ended february 2 , 2007 , gross realized gains and losses on the sales of available-for-sale securities were not material . the cost of securities sold is based upon the specific identification method . merchandise inventories inventories are stated at the lower of cost or market with cost determined using the retail last-in , first-out ( 201clifo 201d ) method . under the company 2019s retail inventory method ( 201crim 201d ) , the calculation of gross profit and the resulting valuation of inventories at cost are computed by applying a calculated cost-to-retail inventory ratio to the retail value of sales at a department level . costs directly associated with warehousing and distribution are capitalized into inventory . the excess of current cost over lifo cost was approximately $ 50.0 million at january 30 , 2009 and $ 6.1 million at february 1 , 2008 . current cost is determined using the retail first-in , first-out method . the company 2019s lifo reserves were adjusted to zero at july 6 , 2007 as a result of the merger . the successor recorded lifo provisions of $ 43.9 million and $ 6.1 million during 2008 and 2007 , respectively . the predecessor recorded a lifo credit of $ 1.5 million in 2006 . in 2008 , the increased commodity cost pressures mainly related to food and pet products which have been driven by fruit and vegetable prices and rising freight costs . increases in petroleum , resin , metals , pulp and other raw material commodity driven costs also resulted in multiple product cost increases . the company intends to address these commodity cost increases through negotiations with its vendors and by increasing retail prices as necessary . on a quarterly basis , the company estimates the annual impact of commodity cost fluctuations based upon the best available information at that point in time . store pre-opening costs pre-opening costs related to new store openings and the construction periods are expensed as incurred . property and equipment property and equipment are recorded at cost . the company provides for depreciation and amortization on a straight-line basis over the following estimated useful lives: .
|land improvements|20|
|buildings|39-40|
|furniture fixtures and equipment|3-10|
improvements of leased properties are amortized over the shorter of the life of the applicable lease term or the estimated useful life of the asset. .
Question: what the difference of the held-to-maturity securities at cost and at fair value as of january 30 , 2009 , in millions?
Answer: | 2.5 |
FINQA4384 | Please answer the given financial question based on the context.
Context: 59jackhenry.com note 12 . business acquisition bayside business solutions , inc . effective july 1 , 2015 , the company acquired all of the equity interests of bayside business solutions , an alabama-based company that provides technology solutions and payment processing services primarily for the financial services industry , for $ 10000 paid in cash . this acquisition was funded using existing operating cash . the acquisition of bayside business solutions expanded the company 2019s presence in commercial lending within the industry . management has completed a purchase price allocation of bayside business solutions and its assessment of the fair value of acquired assets and liabilities assumed . the recognized amounts of identifiable assets acquired and liabilities assumed , based upon their fair values as of july 1 , 2015 are set forth below: .
|current assets|$ 1922|
|long-term assets|253|
|identifiable intangible assets|5005|
|total liabilities assumed|-3279 ( 3279 )|
|total identifiable net assets|3901|
|goodwill|6099|
|net assets acquired|$ 10000|
the goodwill of $ 6099 arising from this acquisition consists largely of the growth potential , synergies and economies of scale expected from combining the operations of the company with those of bayside business solutions , together with the value of bayside business solutions 2019 assembled workforce . goodwill from this acquisition has been allocated to our bank systems and services segment . the goodwill is not expected to be deductible for income tax purposes . identifiable intangible assets from this acquisition consist of customer relationships of $ 3402 , $ 659 of computer software and other intangible assets of $ 944 . the weighted average amortization period for acquired customer relationships , acquired computer software , and other intangible assets is 15 years , 5 years , and 20 years , respectively . current assets were inclusive of cash acquired of $ 1725 . the fair value of current assets acquired included accounts receivable of $ 178 . the gross amount of receivables was $ 178 , none of which was expected to be uncollectible . during fiscal year 2016 , the company incurred $ 55 in costs related to the acquisition of bayside business solutions . these costs included fees for legal , valuation and other fees . these costs were included within general and administrative expenses . the results of bayside business solutions 2019 operations included in the company 2019s consolidated statement of income for the twelve months ended june 30 , 2017 included revenue of $ 6536 and after-tax net income of $ 1307 . for the twelve months ended june 30 , 2016 , bayside business solutions 2019 contributed $ 4273 to revenue , and after-tax net income of $ 303 . the accompanying consolidated statements of income do not include any revenues and expenses related to this acquisition prior to the acquisition date . the impact of this acquisition was considered immaterial to both the current and prior periods of our consolidated financial statements and pro forma financial information has not been provided. .
Question: for the identifiable intangible assets from this acquisition , was the computer software greater than the other intangible assets?
Answer: | no |
FINQA4385 | Please answer the given financial question based on the context.
Context: shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the sec , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing . the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index , and the dow jones transportation average . the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2009 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock. .
||12/31/2009|12/31/2010|12/31/2011|12/31/2012|12/31/2013|12/31/2014|
|united parcel service inc .|$ 100.00|$ 130.29|$ 135.35|$ 140.54|$ 205.95|$ 223.79|
|standard & poor 2019s 500 index|$ 100.00|$ 115.06|$ 117.48|$ 136.26|$ 180.38|$ 205.05|
|dow jones transportation average|$ 100.00|$ 126.74|$ 126.75|$ 136.24|$ 192.61|$ 240.91|
.
Question: what is the roi of an investment in ups from 2010 to 2012?
Answer: | 0.07867 |
FINQA4386 | Please answer the given financial question based on the context.
Context: results of operations year ended december 31 , 2006 compared to year ended december 31 , 2005 the historical results of operations of pca for the years ended december 31 , 2006 and 2005 are set forth below : for the year ended december 31 , ( in millions ) 2006 2005 change .
|( in millions )|for the year ended december 31 , 2006|for the year ended december 31 , 2005|change|
|net sales|$ 2187.1|$ 1993.7|$ 193.4|
|income from operations|$ 225.9|$ 116.1|$ 109.8|
|interest expense net|-31.2 ( 31.2 )|-28.1 ( 28.1 )|-3.1 ( 3.1 )|
|income before taxes|194.7|88.0|106.7|
|provision for income taxes|-69.7 ( 69.7 )|-35.4 ( 35.4 )|-34.3 ( 34.3 )|
|net income|$ 125.0|$ 52.6|$ 72.4|
net sales net sales increased by $ 193.4 million , or 9.7% ( 9.7 % ) , for the year ended december 31 , 2006 from the year ended december 31 , 2005 . net sales increased primarily due to increased sales prices and volumes of corrugated products and containerboard compared to 2005 . total corrugated products volume sold increased 0.4% ( 0.4 % ) to 31.3 billion square feet in 2006 compared to 31.2 billion square feet in 2005 . on a comparable shipment-per-workday basis , corrugated products sales volume increased 0.8% ( 0.8 % ) in 2006 from 2005 . shipments-per-workday is calculated by dividing our total corrugated products volume during the year by the number of workdays within the year . the larger percentage increase on a shipment-per-workday basis was due to the fact that 2006 had one less workday ( 249 days ) , those days not falling on a weekend or holiday , than 2005 ( 250 days ) . containerboard sales volume to external domestic and export customers increased 15.6% ( 15.6 % ) to 482000 tons for the year ended december 31 , 2006 from 417000 tons in 2005 . income from operations income from operations increased by $ 109.8 million , or 94.6% ( 94.6 % ) , for the year ended december 31 , 2006 compared to 2005 . included in income from operations for the year ended december 31 , 2005 is income of $ 14.0 million , net of expenses , consisting of two dividends paid to pca by southern timber venture , llc ( stv ) , the timberlands joint venture in which pca owns a 311 20443% ( 20443 % ) ownership interest . excluding the dividends from stv , income from operations increased $ 123.8 million in 2006 compared to 2005 . the $ 123.8 million increase in income from operations was primarily attributable to higher sales prices and volume as well as improved mix of business ( $ 195.6 million ) , partially offset by increased costs related to transportation ( $ 18.9 million ) , energy , primarily purchased fuels and electricity ( $ 18.3 million ) , wage increases for hourly and salaried personnel ( $ 16.9 million ) , medical , pension and other benefit costs ( $ 9.9 million ) , and incentive compensation ( $ 6.5 million ) . gross profit increased $ 137.1 million , or 44.7% ( 44.7 % ) , for the year ended december 31 , 2006 from the year ended december 31 , 2005 . gross profit as a percentage of net sales increased from 15.4% ( 15.4 % ) of net sales in 2005 to 20.3% ( 20.3 % ) of net sales in the current year primarily due to the increased sales prices described previously . selling and administrative expenses increased $ 12.3 million , or 8.4% ( 8.4 % ) , for the year ended december 31 , 2006 from the comparable period in 2005 . the increase was primarily the result of increased salary and .
Question: what was the operating income margin for 2005?
Answer: | 0.05823 |
FINQA4387 | 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 , 2010 , and the reinvestment of dividends thereafter , if any , in the company's common stock versus the standard and poor's s&p 500 retail index ( "s&p 500 retail index" ) and the standard and poor's s&p 500 index ( "s&p 500" ) . .
|company/index|december 31 , 2010|december 31 , 2011|december 31 , 2012|december 31 , 2013|december 31 , 2014|december 31 , 2015|
|o'reilly automotive inc .|$ 100|$ 132|$ 148|$ 213|$ 319|$ 419|
|s&p 500 retail index|100|103|128|185|203|252|
|s&p 500|$ 100|$ 100|$ 113|$ 147|$ 164|$ 163|
.
Question: how much greater was the five year return for the s&p 500 retail index compared to the s&p 500?
Answer: | 89.0 |
FINQA4388 | Please answer the given financial question based on the context.
Context: adequacy of our provision for income taxes , we regularly assess the likelihood of adverse outcomes resulting from tax examinations . while it is often difficult to predict the final outcome or the timing of the resolution of a tax examination , our reserves for uncertain tax benefits reflect the outcome of tax positions that are more likely than not to occur . while we believe that we have complied with all applicable tax laws , there can be no assurance that a taxing authority will not have a different interpretation of the law and assess us with additional taxes . should additional taxes be assessed , this may result in a material adverse effect on our results of operations and financial condition . item 1b . unresolved staff comments we have no unresolved sec staff comments to report . item 2 . properties as of december 31 , 2018 , we owned or leased 126 major manufacturing sites and 15 major technical centers . a manufacturing site may include multiple plants and may be wholly or partially owned or leased . we also have many smaller manufacturing sites , sales offices , warehouses , engineering centers , joint ventures and other investments strategically located throughout the world . we have a presence in 44 countries . the following table shows the regional distribution of our major manufacturing sites by the operating segment that uses such facilities : north america europe , middle east & africa asia pacific south america total .
||north america|europemiddle east& africa|asia pacific|south america|total|
|signal and power solutions|45|33|33|5|116|
|advanced safety and user experience|2|5|3|2014|10|
|total|47|38|36|5|126|
in addition to these manufacturing sites , we had 15 major technical centers : eight in north america ; two in europe , middle east and africa ; and five in asia pacific . of our 126 major manufacturing sites and 15 major technical centers , which include facilities owned or leased by our consolidated subsidiaries , 61 are primarily owned and 80 are primarily leased . we frequently review our real estate portfolio and develop footprint strategies to support our customers 2019 global plans , while at the same time supporting our technical needs and controlling operating expenses . we believe our evolving portfolio will meet current and anticipated future needs . item 3 . legal proceedings we are from time to time subject to various actions , claims , suits , government investigations , and other proceedings incidental to our business , including those arising out of alleged defects , breach of contracts , competition and antitrust matters , product warranties , intellectual property matters , personal injury claims and employment-related matters . it is our opinion that the outcome of such matters will not have a material adverse impact on our consolidated financial position , results of operations , or cash flows . with respect to warranty matters , although we cannot ensure that the future costs of warranty claims by customers will not be material , we believe our established reserves are adequate to cover potential warranty settlements . however , the final amounts required to resolve these matters could differ materially from our recorded estimates . brazil matters aptiv conducts business operations in brazil that are subject to the brazilian federal labor , social security , environmental , tax and customs laws , as well as a variety of state and local laws . while aptiv believes it complies with such laws , they are complex , subject to varying interpretations , and the company is often engaged in litigation with government agencies regarding the application of these laws to particular circumstances . as of december 31 , 2018 , the majority of claims asserted against aptiv in brazil relate to such litigation . the remaining claims in brazil relate to commercial and labor litigation with private parties . as of december 31 , 2018 , claims totaling approximately $ 145 million ( using december 31 , 2018 foreign currency rates ) have been asserted against aptiv in brazil . as of december 31 , 2018 , the company maintains accruals for these asserted claims of $ 30 million ( using december 31 , 2018 foreign currency rates ) . the amounts accrued represent claims that are deemed probable of loss and are reasonably estimable based on the company 2019s analyses and assessment of the asserted claims and prior experience with similar matters . while the company believes its accruals are adequate , the final amounts required to resolve these matters could differ materially from the company 2019s recorded estimates and aptiv 2019s results of .
Question: what percentage of major manufacturing sites are based in asia pacific?
Answer: | 0.28571 |
FINQA4389 | Please answer the given financial question based on the context.
Context: the depreciable lives of production facilities within the merchant gases segment are principally 15 years . customer contracts associated with products produced at these types of facilities typically have a much shorter term . the depreciable lives of production facilities within the electronics and performance materials segment , where there is not an associated long-term supply agreement , range from 10 to 15 years . these depreciable lives have been determined based on historical experience combined with judgment on future assumptions such as technological advances , potential obsolescence , competitors 2019 actions , etc . management monitors its assumptions and may potentially need to adjust depreciable life as circumstances change . a change in the depreciable life by one year for production facilities within the merchant gases and electronics and performance materials segments for which there is not an associated long-term customer supply agreement would impact annual depreciation expense as summarized below : decrease life by 1 year increase life by 1 year .
||decrease lifeby 1 year|increase life by 1 year|
|merchant gases|$ 30|$ -20 ( 20 )|
|electronics and performance materials|$ 16|$ -10 ( 10 )|
impairment of assets plant and equipment plant and equipment held for use is grouped for impairment testing at the lowest level for which there are identifiable cash flows . impairment testing of the asset group occurs whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable . such circumstances would include a significant decrease in the market value of a long-lived asset grouping , a significant adverse change in the manner in which the asset grouping is being used or in its physical condition , a history of operating or cash flow losses associated with the use of the asset grouping , or changes in the expected useful life of the long-lived assets . if such circumstances are determined to exist , an estimate of undiscounted future cash flows produced by that asset group is compared to the carrying value to determine whether impairment exists . if an asset group is determined to be impaired , the loss is measured based on the difference between the asset group 2019s fair value and its carrying value . an estimate of the asset group 2019s fair value is based on the discounted value of its estimated cash flows . assets to be disposed of by sale are reported at the lower of carrying amount or fair value less cost to sell . the assumptions underlying cash flow projections represent management 2019s best estimates at the time of the impairment review . factors that management must estimate include industry and market conditions , sales volume and prices , costs to produce , inflation , etc . changes in key assumptions or actual conditions that differ from estimates could result in an impairment charge . we use reasonable and supportable assumptions when performing impairment reviews and cannot predict the occurrence of future events and circumstances that could result in impairment charges . goodwill the acquisition method of accounting for business combinations currently requires us to make use of estimates and judgments to allocate the purchase price paid for acquisitions to the fair value of the net tangible and identifiable intangible assets . goodwill represents the excess of the aggregate purchase price over the fair value of net assets of an acquired entity . goodwill , including goodwill associated with equity affiliates of $ 126.4 , was $ 1780.2 as of 30 september 2013 . the majority of our goodwill is assigned to reporting units within the merchant gases and electronics and performance materials segments . goodwill increased in 2013 , primarily as a result of the epco and wcg acquisitions in merchant gases during the third quarter . disclosures related to goodwill are included in note 10 , goodwill , to the consolidated financial statements . we perform an impairment test annually in the fourth quarter of the fiscal year . in addition , goodwill would be tested more frequently if changes in circumstances or the occurrence of events indicated that potential impairment exists . the tests are done at the reporting unit level , which is defined as one level below the operating segment for which discrete financial information is available and whose operating results are reviewed by segment managers regularly . currently , we have four business segments and thirteen reporting units . reporting units are primarily based on products and geographic locations within each business segment . as part of the goodwill impairment testing , and as permitted under the accounting guidance , we have the option to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value . if we choose not to complete a qualitative assessment for a given reporting unit , or if the .
Question: what is the depreciation expense with the production facilities within the merchant gases segment accumulated in 15 years?
Answer: | 300.0 |
FINQA4390 | Please answer the given financial question based on the context.
Context: see note 10 goodwill and other intangible assets for further discussion of the accounting for goodwill and other intangible assets . the estimated amount of rbc bank ( usa ) revenue and net income ( excluding integration costs ) included in pnc 2019s consolidated income statement for 2012 was $ 1.0 billion and $ 273 million , respectively . upon closing and conversion of the rbc bank ( usa ) transaction , subsequent to march 2 , 2012 , separate records for rbc bank ( usa ) as a stand-alone business have not been maintained as the operations of rbc bank ( usa ) have been fully integrated into pnc . rbc bank ( usa ) revenue and earnings disclosed above reflect management 2019s best estimate , based on information available at the reporting date . the following table presents certain unaudited pro forma information for illustrative purposes only , for 2012 and 2011 as if rbc bank ( usa ) had been acquired on january 1 , 2011 . the unaudited estimated pro forma information combines the historical results of rbc bank ( usa ) with the company 2019s consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods . the pro forma information is not indicative of what would have occurred had the acquisition taken place on january 1 , 2011 . in particular , no adjustments have been made to eliminate the impact of other-than-temporary impairment losses and losses recognized on the sale of securities that may not have been necessary had the investment securities been recorded at fair value as of january 1 , 2011 . the unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value . additionally , the pro forma financial information does not include the impact of possible business model changes and does not reflect pro forma adjustments to conform accounting policies between rbc bank ( usa ) and pnc . additionally , pnc expects to achieve further operating cost savings and other business synergies , including revenue growth , as a result of the acquisition that are not reflected in the pro forma amounts that follow . as a result , actual results will differ from the unaudited pro forma information presented . table 57 : rbc bank ( usa ) and pnc unaudited pro forma results .
|in millions|for the year ended december 31 2012|for the year ended december 31 2011|
|total revenues|$ 15721|$ 15421|
|net income|2989|2911|
in connection with the rbc bank ( usa ) acquisition and other prior acquisitions , pnc recognized $ 267 million of integration charges in 2012 . pnc recognized $ 42 million of integration charges in 2011 in connection with prior acquisitions . the integration charges are included in the table above . sale of smartstreet effective october 26 , 2012 , pnc divested certain deposits and assets of the smartstreet business unit , which was acquired by pnc as part of the rbc bank ( usa ) acquisition , to union bank , n.a . smartstreet is a nationwide business focused on homeowner or community association managers and had approximately $ 1 billion of assets and deposits as of september 30 , 2012 . the gain on sale was immaterial and resulted in a reduction of goodwill and core deposit intangibles of $ 46 million and $ 13 million , respectively . results from operations of smartstreet from march 2 , 2012 through october 26 , 2012 are included in our consolidated income statement . flagstar branch acquisition effective december 9 , 2011 , pnc acquired 27 branches in the northern metropolitan atlanta , georgia area from flagstar bank , fsb , a subsidiary of flagstar bancorp , inc . the fair value of the assets acquired totaled approximately $ 211.8 million , including $ 169.3 million in cash , $ 24.3 million in fixed assets and $ 18.2 million of goodwill and intangible assets . we also assumed approximately $ 210.5 million of deposits associated with these branches . no deposit premium was paid and no loans were acquired in the transaction . our consolidated income statement includes the impact of the branch activity subsequent to our december 9 , 2011 acquisition . bankatlantic branch acquisition effective june 6 , 2011 , we acquired 19 branches in the greater tampa , florida area from bankatlantic , a subsidiary of bankatlantic bancorp , inc . the fair value of the assets acquired totaled $ 324.9 million , including $ 256.9 million in cash , $ 26.0 million in fixed assets and $ 42.0 million of goodwill and intangible assets . we also assumed approximately $ 324.5 million of deposits associated with these branches . a $ 39.0 million deposit premium was paid and no loans were acquired in the transaction . our consolidated income statement includes the impact of the branch activity subsequent to our june 6 , 2011 acquisition . sale of pnc global investment servicing on july 1 , 2010 , we sold pnc global investment servicing inc . ( gis ) , a leading provider of processing , technology and business intelligence services to asset managers , broker- dealers and financial advisors worldwide , for $ 2.3 billion in cash pursuant to a definitive agreement entered into on february 2 , 2010 . this transaction resulted in a pretax gain of $ 639 million , net of transaction costs , in the third quarter of 2010 . this gain and results of operations of gis through june 30 , 2010 are presented as income from discontinued operations , net of income taxes , on our consolidated income statement . as part of the sale agreement , pnc has agreed to provide certain transitional services on behalf of gis until completion of related systems conversion activities . 138 the pnc financial services group , inc . 2013 form 10-k .
Question: excluding expenses recognized in 2012 in connection with the rbc acquisitions , what would net income be in millions?
Answer: | 3256.0 |
FINQA4391 | Please answer the given financial question based on the context.
Context: entergy new orleans , inc . management 2019s financial discussion and analysis also in addition to the contractual obligations , entergy new orleans has $ 53.7 million of unrecognized tax benefits and interest net of unused tax attributes and payments for which the timing of payments beyond 12 months cannot be reasonably estimated due to uncertainties in the timing of effective settlement of tax positions . see note 3 to the financial statements for additional information regarding unrecognized tax benefits . the planned capital investment estimate for entergy new orleans reflects capital required to support existing business . the estimated capital expenditures are subject to periodic review and modification and may vary based on the ongoing effects of regulatory constraints , environmental compliance , market volatility , economic trends , changes in project plans , and the ability to access capital . management provides more information on long-term debt and preferred stock maturities in notes 5 and 6 and to the financial statements . as an indirect , wholly-owned subsidiary of entergy corporation , entergy new orleans pays dividends from its earnings at a percentage determined monthly . entergy new orleans 2019s long-term debt indentures contain restrictions on the payment of cash dividends or other distributions on its common and preferred stock . sources of capital entergy new orleans 2019s sources to meet its capital requirements include : internally generated funds ; cash on hand ; and debt and preferred stock issuances . entergy new orleans may refinance , redeem , or otherwise retire debt and preferred stock prior to maturity , to the extent market conditions and interest and dividend rates are favorable . entergy new orleans 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 )|
|$ 9074|$ 21820|$ 66149|$ 60093|
see note 4 to the financial statements for a description of the money pool . entergy new orleans has obtained 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 $ 100 million . see note 4 to the financial statements for further discussion of entergy new orleans 2019s short-term borrowing limits . the long-term securities issuances of entergy new orleans are limited to amounts authorized by the city council , and the current authorization extends through july 2012 . entergy louisiana 2019s ninemile point unit 6 self-build project in june 2011 , entergy louisiana filed with the lpsc an application seeking certification that the public necessity and convenience would be served by entergy louisiana 2019s construction of a combined-cycle gas turbine generating facility ( ninemile 6 ) at its existing ninemile point electric generating station . ninemile 6 will be a nominally-sized 550 mw unit that is estimated to cost approximately $ 721 million to construct , excluding interconnection and transmission upgrades . entergy gulf states louisiana joined in the application , seeking certification of its purchase under a life-of-unit power purchase agreement of up to 35% ( 35 % ) of the capacity and energy generated by ninemile 6 . the ninemile 6 capacity and energy is proposed to be allocated 55% ( 55 % ) to entergy louisiana , 25% ( 25 % ) to entergy gulf states louisiana , and 20% ( 20 % ) to entergy new orleans . in february 2012 the city council passed a resolution authorizing entergy new orleans to purchase 20% ( 20 % ) of the ninemile 6 energy and capacity . if approvals are obtained from the lpsc and other permitting agencies , ninemile 6 construction is .
Question: what was the ratio of the ninemile 6 mw to the cost of the construction
Answer: | 1.31091 |
FINQA4392 | Please answer the given financial question based on the context.
Context: realignment and other 201d expenses . acquisition , integration , realignment and other expenses for the years ended december 31 , 2009 , 2008 and 2007 , included ( in millions ) : .
||2009|2008|2007|
|adjustment or impairment of acquired assets and obligations net|$ -1.5 ( 1.5 )|$ -10.4 ( 10.4 )|$ -1.2 ( 1.2 )|
|consulting and professional fees|11.7|13.2|1.0|
|employee severance and retention including share-based compensation acceleration|19.0|0.2|1.6|
|information technology integration|1.1|0.7|2.6|
|in-process research & development|2013|38.5|6.5|
|vacated facilities|1.4|2013|2013|
|facility and employee relocation|5.4|7.5|2013|
|distributor acquisitions|1.1|6.9|4.1|
|certain litigation matters|23.4|2013|2013|
|contract terminations|9.4|5.7|5.4|
|other|4.3|6.2|5.2|
|acquisition integration realignment and other|$ 75.3|$ 68.5|$ 25.2|
adjustment or impairment of acquired assets and obligations relates to impairment on assets that were acquired in business combinations or adjustments to certain liabilities of acquired companies due to changes in circumstances surrounding those liabilities subsequent to the related measurement period . consulting and professional fees relate to third-party integration consulting performed in a variety of areas such as tax , compliance , logistics and human resources and include third-party fees related to severance and termination benefits matters . these fees also include legal fees related to litigation matters involving acquired businesses that existed prior to our acquisition or resulted from our acquisition . during 2009 , we commenced a global realignment initiative to focus on business opportunities that best support our strategic priorities . as part of this realignment , we initiated changes in our work force , eliminating positions in some areas and increasing others . approximately 300 employees from across the globe were affected by these actions . as a result of these changes in our work force and headcount reductions from acquisitions , we recorded expense of $ 19.0 million related to severance and other employee termination-related costs . these termination benefits were provided in accordance with our existing or local government policies and are considered ongoing benefits . these costs were accrued when they became probable and estimable and were recorded as part of other current liabilities . the majority of these costs were paid during 2009 . information technology integration relates to the non- capitalizable costs associated with integrating the information systems of acquired businesses . in-process research and development charges for 2008 relate to the acquisition of abbott spine . in-process research and development charges for 2007 relate to the acquisitions of endius and orthosoft . in 2009 , we ceased using certain leased facilities and , accordingly , recorded expense for the remaining lease payments , less estimated sublease recoveries , and wrote-off any assets being used in those facilities . facility and employee relocation relates to costs associated with relocating certain facilities . most notably , we consolidated our legacy european distribution centers into a new distribution center in eschbach , germany . over the past three years we have acquired a number of u.s . and foreign-based distributors . we have incurred various costs related to the acquisition and integration of those businesses . certain litigation matters relate to costs recognized during the year for the estimated or actual settlement of various legal matters , including patent litigation matters , commercial litigation matters and matters arising from our acquisitions of certain competitive distributorships in prior years . we recognize expense for the potential settlement of a legal matter when we believe it is probable that a loss has been incurred and we can reasonably estimate the loss . in 2009 , we made a concerted effort to settle many of these matters to avoid further litigation costs . contract termination costs relate to terminated agreements in connection with the integration of acquired companies . the terminated contracts primarily relate to sales agents and distribution agreements . cash and cash equivalents 2013 we consider all highly liquid investments with an original maturity of three months or less to be cash equivalents . the carrying amounts reported in the balance sheet for cash and cash equivalents are valued at cost , which approximates their fair value . certificates of deposit 2013 we invest in cash deposits with original maturities greater than three months and classify these investments as certificates of deposit on our consolidated balance sheet . the carrying amounts reported in the balance sheet for certificates of deposit are valued at cost , which approximates their fair value . inventories 2013 inventories , net of allowances for obsolete and slow-moving goods , are stated at the lower of cost or market , with cost determined on a first-in first-out basis . property , plant and equipment 2013 property , plant and equipment is carried at cost less accumulated depreciation . depreciation is computed using the straight-line method based on estimated useful lives of ten to forty years for buildings and improvements and three to eight years for machinery and equipment . maintenance and repairs are expensed as incurred . we review property , plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable . an impairment loss would be recognized when estimated future undiscounted cash flows relating to the asset are less than its carrying amount . an impairment loss is measured as the amount by which the carrying amount of an asset exceeds its fair value . z i m m e r h o l d i n g s , i n c . 2 0 0 9 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) %%transmsg*** transmitting job : c55340 pcn : 043000000 ***%%pcmsg|43 |00008|yes|no|02/24/2010 01:32|0|0|page is valid , no graphics -- color : d| .
Question: what is the percent change in consulting and professional fees from 2008 to 2009?
Answer: | 0.12821 |
FINQA4393 | Please answer the given financial question based on the context.
Context: table of contents performance graph the following performance graph shows the cumulative total return to a holder of the company 2019s common stock , assuming dividend reinvestment , compared with the cumulative total return , assuming dividend reinvestment , of the standard & poor ( "s&p" ) 500 index and the dow jones us financials index during the period from december 31 , 2010 through december 31 , 2015. .
||12/10|12/11|12/12|12/13|12/14|12/15|
|e*trade financial corporation|100.00|49.75|55.94|122.75|151.59|185.25|
|s&p 500 index|100.00|102.11|118.45|156.82|178.29|180.75|
|dow jones us financials index|100.00|87.16|110.56|148.39|170.04|170.19|
.
Question: what was the percentage cumulative total return for e*trade financial corporation for the five years ended 12/15?
Answer: | 0.8525 |
FINQA4394 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) basis step-up from corporate restructuring represents the tax effects of increasing the basis for tax purposes of certain of the company 2019s assets in conjunction with its spin-off from american radio systems corporation , its former parent company . at december 31 , 2006 , the company had net federal and state operating loss carryforwards available to reduce future taxable income of approximately $ 2.1 billion and $ 2.5 billion , respectively . if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : .
|years ended december 31,|federal|state|
|2007 to 2011||$ 438967|
|2012 to 2016||478502|
|2017 to 2021|$ 617039|1001789|
|2022 to 2026|1476644|629354|
|total|$ 2093683|$ 2548612|
sfas no . 109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2006 , the company has provided a valuation allowance of approximately $ 308.2 million , including approximately $ 153.6 million attributable to spectrasite , primarily related to net operating loss and capital loss carryforwards assumed as of the acquisition date . the balance of the valuation allowance primarily relates to net state deferred tax assets . 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 time 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 . approximately $ 148.3 million of the spectrasite valuation allowances as of december 31 , 2006 will be recorded as a reduction to goodwill if the underlying deferred tax assets are utilized . the company intends to recover a portion of its deferred tax asset through its federal income tax refund claims related to the carry back of certain federal net operating losses . in june 2003 and october 2003 , the company filed federal income tax refund claims with the irs relating to the carry back of $ 380.0 million of net operating losses generated prior to 2003 , of which the company initially anticipated receiving approximately $ 90.0 million . based on preliminary discussions with tax authorities , the company revised its estimate of the net realizable value of the federal income tax refund claims during the year ended december 31 , 2005 , and anticipates receiving a refund of approximately $ 65.0 million , plus interest . the company expects settlement of this matter in the first half of 2007 , however , there can be no assurances with respect to the timing of any refund . because of the uncertainty associated with the claim , the company has not recognized any amounts related to interest . the recoverability of the company 2019s remaining net deferred tax asset has been assessed utilizing stable state ( no growth ) 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 realization of the company 2019s deferred tax assets as of december 31 , 2006 will be dependent upon its ability to generate approximately $ 1.4 billion in taxable income from january 1 , 2007 to december 31 , 2026 . if the company is unable to generate sufficient taxable income in the future , or carry back losses , as described above , it .
Question: at december 31 , 2006 what was the percent of the total company nol set to expire between 2017 and 2021
Answer: | 0.29471 |
FINQA4395 | Please answer the given financial question based on the context.
Context: factors , including the market price of our common stock , general economic and market conditions and applicable legal requirements . the repurchase program may be commenced , suspended or discontinued at any time . in fiscal 2019 , we repurchased approximately 2.1 million shares of our common stock for an aggregate cost of $ 88.6 million . in fiscal 2018 , we repurchased approximately 3.4 million shares of our common stock for an aggregate cost of $ 195.1 million . as of september 30 , 2019 , we had approximately 19.1 million shares of common stock available for repurchase under the program . we anticipate that we will be able to fund our capital expenditures , interest payments , dividends and stock repurchases , pension payments , working capital needs , note repurchases , restructuring activities , repayments of current portion of long-term debt and other corporate actions for the foreseeable future from cash generated from operations , borrowings under our credit facilities , proceeds from our a/r sales agreement , proceeds from the issuance of debt or equity securities or other additional long-term debt financing , including new or amended facilities . in addition , we continually review our capital structure and conditions in the private and public debt markets in order to optimize our mix of indebtedness . in connection with these reviews , we may seek to refinance existing indebtedness to extend maturities , reduce borrowing costs or otherwise improve the terms and composition of our indebtedness . contractual obligations we summarize our enforceable and legally binding contractual obligations at september 30 , 2019 , and the effect these obligations are expected to have on our liquidity and cash flow in future periods in the following table . certain amounts in this table are based on management 2019s estimates and assumptions about these obligations , including their duration , the possibility of renewal , anticipated actions by third parties and other factors , including estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans . because these estimates and assumptions are subjective , the enforceable and legally binding obligations we actually pay in future periods may vary from those presented in the table. .
|( in millions )|payments due by period total|payments due by period fiscal 2020|payments due by period fiscal 2021and 2022|payments due by period fiscal 2023and 2024|payments due by period thereafter|
|long-term debt including current portionexcluding capital lease obligations ( 1 )|$ 9714.1|$ 550.8|$ 939.8|$ 2494.3|$ 5729.2|
|operating lease obligations ( 2 )|930.4|214.3|316.4|193.6|206.1|
|capital lease obligations ( 3 )|168.9|6.4|8.7|2.9|150.9|
|purchase obligations and other ( 4 ) ( 5 ) ( 6 )|2293.5|1607.0|292.5|206.7|187.3|
|total|$ 13106.9|$ 2378.5|$ 1557.4|$ 2897.5|$ 6273.5|
( 1 ) includes only principal payments owed on our debt assuming that all of our long-term debt will be held to maturity , excluding scheduled payments . we have excluded $ 163.5 million of fair value of debt step-up , deferred financing costs and unamortized bond discounts from the table to arrive at actual debt obligations . see 201cnote 13 . debt 201d of the notes to consolidated financial statements for information on the interest rates that apply to our various debt instruments . ( 2 ) see 201cnote 15 . operating leases 201d of the notes to consolidated financial statements for additional information . ( 3 ) the fair value step-up of $ 16.9 million is excluded . see 201cnote 13 . debt 2014 capital lease and other indebtedness 201d of the notes to consolidated financial statements for additional information . ( 4 ) purchase obligations include agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum or variable price provision ; and the approximate timing of the transaction . purchase obligations exclude agreements that are cancelable without penalty . ( 5 ) we have included in the table future estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans . our estimates are based on factors , such as discount rates and expected returns on plan assets . future contributions are subject to changes in our underfunded status based on factors such as investment performance , discount rates , returns on plan assets and changes in legislation . it is possible that our assumptions may change , actual market performance may vary or we may decide to contribute different amounts . we have excluded $ 237.2 million of multiemployer pension plan withdrawal liabilities recorded as of september 30 , 2019 , including our estimate of the accumulated funding deficiency , due to lack of .
Question: what was the ratio of the share repurchase in 2019 to 2018
Answer: | 0.61765 |
FINQA4396 | 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 is the yearly interest expense incurred from term a loan , ( in millions ) ?
Answer: | 60.3 |
FINQA4397 | Please answer the given financial question based on the context.
Context: shareholder value award program svas are granted to officers and management and are payable in shares of our common stock . the number of shares actually issued , if any , varies depending on our stock price at the end of the three-year vesting period compared to pre-established target stock prices . we measure the fair value of the sva unit on the grant date using a monte carlo simulation model . the model utilizes multiple input variables that determine the probability of satisfying the market condition stipulated in the award grant and calculates the fair value of the award . expected volatilities utilized in the model are based on implied volatilities from traded options on our stock , historical volatility of our stock price , and other factors . similarly , the dividend yield is based on historical experience and our estimate of future dividend yields . the risk-free interest rate is derived from the u.s . treasury yield curve in effect at the time of grant . the weighted-average fair values of the sva units granted during the years ended december 31 , 2018 , 2017 , and 2016 were $ 48.51 , $ 66.25 , and $ 48.68 , respectively , determined using the following assumptions: .
|( percents )|2018|2017|2016|
|expected dividend yield|2.50% ( 2.50 % )|2.50% ( 2.50 % )|2.00% ( 2.00 % )|
|risk-free interest rate|2.31|1.38|0.92|
|volatility|22.26|22.91|21.68|
pursuant to this program , approximately 0.7 million shares , 1.1 million shares , and 1.0 million shares were issued during the years ended december 31 , 2018 , 2017 , and 2016 , respectively . approximately 1.0 million shares are expected to be issued in 2019 . as of december 31 , 2018 , the total remaining unrecognized compensation cost related to nonvested svas was $ 55.7 million , which will be amortized over the weighted-average remaining requisite service period of 20 months . restricted stock units rsus are granted to certain employees and are payable in shares of our common stock . rsu shares are accounted for at fair value based upon the closing stock price on the date of grant . the corresponding expense is amortized over the vesting period , typically three years . the fair values of rsu awards granted during the years ended december 31 , 2018 , 2017 , and 2016 were $ 70.95 , $ 72.47 , and $ 71.46 , respectively . the number of shares ultimately issued for the rsu program remains constant with the exception of forfeitures . pursuant to this program , 1.3 million , 1.4 million , and 1.3 million shares were granted and approximately 1.0 million , 0.9 million , and 0.6 million shares were issued during the years ended december 31 , 2018 , 2017 , and 2016 , respectively . approximately 0.8 million shares are expected to be issued in 2019 . as of december 31 , 2018 , the total remaining unrecognized compensation cost related to nonvested rsus was $ 112.2 million , which will be amortized over the weighted- average remaining requisite service period of 21 months . note 12 : shareholders' equity during 2018 , 2017 , and 2016 , we repurchased $ 4.15 billion , $ 359.8 million and $ 540.1 million , respectively , of shares associated with our share repurchase programs . a payment of $ 60.0 million was made in 2016 for shares repurchased in 2017 . during 2018 , we repurchased $ 2.05 billion of shares , which completed the $ 5.00 billion share repurchase program announced in october 2013 and our board authorized an $ 8.00 billion share repurchase program . there were $ 2.10 billion repurchased under the $ 8.00 billion program in 2018 . as of december 31 , 2018 , there were $ 5.90 billion of shares remaining under the 2018 program . we have 5.0 million authorized shares of preferred stock . as of december 31 , 2018 and 2017 , no preferred stock was issued . we have an employee benefit trust that held 50.0 million shares of our common stock at both december 31 , 2018 and 2017 , to provide a source of funds to assist us in meeting our obligations under various employee benefit plans . the cost basis of the shares held in the trust was $ 3.01 billion at both december 31 , 2018 and 2017 , and is shown as a reduction of shareholders 2019 equity . any dividend transactions between us and the trust are eliminated . stock held by the trust is not considered outstanding in the computation of eps . the assets of the trust were not used to fund any of our obligations under these employee benefit plans during the years ended december 31 , 2018 , 2017 , and .
Question: what was the percentage change in dollars spent on share repurchase between 2017 and 2018?
Answer: | 10.53419 |
FINQA4398 | Please answer the given financial question based on the context.
Context: page 74 notes to five year summary ( a ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in management 2019s discussion and analysis of financial condition and results of operations ( md&a ) ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) . ( b ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 215 million , $ 154 million after tax ( $ 0.34 per share ) . also includes a reduction in income tax expense resulting from the closure of an internal revenue service examination of $ 144 million ( $ 0.32 per share ) . these items reduced earnings by $ 10 million after tax ( $ 0.02 per share ) . ( c ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 153 million , $ 102 million after tax ( $ 0.22 per share ) . ( d ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 1112 million , $ 632 million after tax ( $ 1.40 per share ) . in 2002 , the corporation adopted fas 142 which prohibits the amortization of goodwill . ( e ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 973 million , $ 651 million after tax ( $ 1.50 per share ) . also includes a gain from the disposal of a business and charges for the corporation 2019s exit from its global telecommunications services business which is included in discontinued operations and which , on a combined basis , increased the net loss by $ 1 billion ( $ 2.38 per share ) . ( f ) the corporation defines return on invested capital ( roic ) as net income plus after-tax interest expense divided by average invested capital ( stockholders 2019 equity plus debt ) , after adjusting stockholders 2019 equity by adding back the minimum pension liability . the adjustment to add back the minimum pension liability is a revision to our calculation in 2005 , which the corporation believes more closely links roic to management performance . further , the corporation believes that reporting roic provides investors with greater visibility into how effectively lockheed martin uses the capital invested in its operations . the corporation uses roic to evaluate multi-year investment decisions and as a long-term performance measure , and also uses roic as a factor in evaluating management performance under certain incentive compensation plans . roic is not a measure of financial performance under gaap , and may not be defined and calculated by other companies in the same manner . roic should not be considered in isola- tion or as an alternative to net earnings as an indicator of performance . the following calculations of roic reflect the revision to the calculation discussed above for all periods presented . ( in millions ) 2005 2004 2003 2002 2001 .
|( in millions )|2005|2004|2003|2002|2001|
|net earnings|$ 1825|$ 1266|$ 1053|$ 500|$ -1046 ( 1046 )|
|interest expense ( multiplied by 65% ( 65 % ) ) 1|241|276|317|378|455|
|return|$ 2066|$ 1542|$ 1370|$ 878|$ -591 ( 591 )|
|average debt2 5|$ 5077|$ 5932|$ 6612|$ 7491|$ 8782|
|average equity3 5|7590|7015|6170|6853|7221|
|average minimum pension liability3 4 5|1545|1296|1504|341|6|
|average invested capital|$ 14212|$ 14243|$ 14286|$ 14685|$ 16009|
|return on invested capital|14.5% ( 14.5 % )|10.8% ( 10.8 % )|9.6% ( 9.6 % )|6.0% ( 6.0 % )|( 3.7 ) % ( % )|
1 represents after-tax interest expense utilizing the federal statutory rate of 35% ( 35 % ) . 2 debt consists of long-term debt , including current maturities , and short-term borrowings ( if any ) . 3 equity includes non-cash adjustments for other comprehensive losses , primarily for the additional minimum pension liability . 4 minimum pension liability values reflect the cumulative value of entries identified in our statement of stockholders equity under the caption 201cminimum pension liability . 201d the annual minimum pension liability adjustments to equity were : 2001 = ( $ 33 million ) ; 2002 = ( $ 1537 million ) ; 2003 = $ 331 million ; 2004 = ( $ 285 million ) ; 2005 = ( $ 105 million ) . as these entries are recorded in the fourth quarter , the value added back to our average equity in a given year is the cumulative impact of all prior year entries plus 20% ( 20 % ) of the cur- rent year entry value . 5 yearly averages are calculated using balances at the start of the year and at the end of each quarter . lockheed martin corporation .
Question: what was the percent of the change in the net earnings from 2004 to 2005
Answer: | 0.44155 |
FINQA4399 | Please answer the given financial question based on the context.
Context: entergy louisiana , llc management's financial discussion and analysis 2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) . following is an analysis of the change in net revenue comparing 2007 to 2006 . amount ( in millions ) .
||amount ( in millions )|
|2006 net revenue|$ 942.1|
|base revenues|78.4|
|volume/weather|37.5|
|transmission revenue|9.2|
|purchased power capacity|-80.0 ( 80.0 )|
|other|3.9|
|2007 net revenue|$ 991.1|
the base revenues variance is primarily due to increases effective september 2006 for the 2005 formula rate plan filing to recover lpsc-approved incremental deferred and ongoing capacity costs . see "state and local rate regulation" below and note 2 to the financial statements for a discussion of the formula rate plan filing . the volume/weather variance is due to increased electricity usage , including electricity sales during the unbilled service period . billed retail electricity usage increased a total of 666 gwh in all sectors compared to 2006 . see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues . the transmission revenue variance is primarily due to higher rates . the purchased power capacity variance is primarily due to higher purchased power capacity charges and the amortization of capacity charges effective september 2006 as a result of the formula rate plan filing in may 2006 . a portion of the purchased power capacity costs is offset in base revenues due to a base rate increase implemented to recover incremental deferred and ongoing purchased power capacity charges , as mentioned above . see "state and local rate regulation" below and note 2 to the financial statements for a discussion of the formula rate plan filing . gross operating revenues , fuel , purchased power expenses , and other regulatory charges ( credits ) gross operating revenues increased primarily due to : an increase of $ 143.1 million in fuel cost recovery revenues due to higher fuel rates and usage ; an increase of $ 78.4 million in base revenues , as discussed above ; and an increase of $ 37.5 million related to volume/weather , as discussed above . fuel and purchased power expenses increased primarily due to an increase in net area demand and an increase in deferred fuel expense as a result of higher fuel rates , as discussed above . other regulatory credits decreased primarily due to the deferral of capacity charges in 2006 in addition to the amortization of these capacity charges in 2007 as a result of the may 2006 formula rate plan filing ( for the 2005 test year ) with the lpsc to recover such costs through base rates effective september 2006 . see note 2 to the financial statements for a discussion of the formula rate plan and storm cost recovery filings with the lpsc. .
Question: what percent of the net change in revenue between 2007 and 2008 was due to volume/weather?
Answer: | 0.76531 |
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