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FINQA4500 | Please answer the given financial question based on the context.
Context: 2018 annual report 23 five-year stock performance graph the graph below illustrates the cumulative total shareholder return on snap-on common stock since december 31 , 2013 , of a $ 100 investment , assuming that dividends were reinvested quarterly . the graph compares snap-on 2019s performance to that of the standard & poor 2019s 500 industrials index ( 201cs&p 500 industrials 201d ) and standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) . fiscal year ended ( 1 ) snap-on incorporated s&p 500 industrials s&p 500 .
|fiscal year ended ( 1 )|snap-onincorporated|s&p 500industrials|s&p 500|
|december 31 2013|$ 100.00|$ 100.00|$ 100.00|
|december 31 2014|126.77|109.83|113.69|
|december 31 2015|161.15|107.04|115.26|
|december 31 2016|163.63|127.23|129.05|
|december 31 2017|169.61|153.99|157.22|
|december 31 2018|144.41|133.53|150.33|
( 1 ) the company 2019s fiscal year ends on the saturday that is on or nearest to december 31 of each year ; for ease of calculation , the fiscal year end is assumed to be december 31. .
Question: what is the average annual growth rate for snap from 2016 to 2018?
Answer: | -12.58173 |
FINQA4501 | 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 earnings for non-utility nuclear in 2004 compare to 2003?
Answer: | -0.18551 |
FINQA4502 | Please answer the given financial question based on the context.
Context: entergy new orleans , inc . 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 . following is an analysis of the change in net revenue comparing 2007 to 2006 . amount ( in millions ) .
||amount ( in millions )|
|2006 net revenue|$ 192.2|
|fuel recovery|42.6|
|volume/weather|25.6|
|rider revenue|8.5|
|net wholesale revenue|-41.2 ( 41.2 )|
|other|3.3|
|2007 net revenue|$ 231.0|
the fuel recovery variance is due to the inclusion of grand gulf costs in fuel recoveries effective july 1 , 2006 . in june 2006 , the city council approved the recovery of grand gulf costs through the fuel adjustment clause , without a corresponding change in base rates ( a significant portion of grand gulf costs was previously recovered through base rates ) . the volume/weather variance is due to an increase in electricity usage in the service territory in 2007 compared to the same period in 2006 . the first quarter 2006 was affected by customer losses following hurricane katrina . entergy new orleans estimates that approximately 132000 electric customers and 86000 gas customers have returned and are taking service as of december 31 , 2007 , compared to approximately 95000 electric customers and 65000 gas customers as of december 31 , 2006 . billed retail electricity usage increased a total of 540 gwh compared to the same period in 2006 , an increase of 14% ( 14 % ) . the rider revenue variance is due primarily to a storm reserve rider effective march 2007 as a result of the city council's approval of a settlement agreement in october 2006 . the approved storm reserve has been set to collect $ 75 million over a ten-year period through the rider and the funds will be held in a restricted escrow account . the settlement agreement is discussed in note 2 to the financial statements . the net wholesale revenue variance is due to more energy available for resale in 2006 due to the decrease in retail usage caused by customer losses following hurricane katrina . in addition , 2006 revenue includes the sales into the wholesale market of entergy new orleans' share of the output of grand gulf , pursuant to city council approval of measures proposed by entergy new orleans to address the reduction in entergy new orleans' retail customer usage caused by hurricane katrina and to provide revenue support for the costs of entergy new orleans' share of grand other income statement variances 2008 compared to 2007 other operation and maintenance expenses decreased primarily due to : a provision for storm-related bad debts of $ 11 million recorded in 2007 ; a decrease of $ 6.2 million in legal and professional fees ; a decrease of $ 3.4 million in employee benefit expenses ; and a decrease of $ 1.9 million in gas operations spending due to higher labor and material costs for reliability work in 2007. .
Question: what is the percentage change in the number of electric consumers from 2006 to 2007 for entergy new orleans?
Answer: | 0.38947 |
FINQA4503 | Please answer the given financial question based on the context.
Context: state street bank issuances : state street bank currently has authority to issue up to an aggregate of $ 1 billion of subordinated fixed-rate , floating-rate or zero-coupon bank notes with a maturity of five to fifteen years . with respect to the 5.25% ( 5.25 % ) subordinated bank notes due 2018 , state street bank is required to make semi-annual interest payments on the outstanding principal balance of the notes on april 15 and october 15 of each year , and the notes qualify as tier 2 capital under regulatory capital guidelines . with respect to the 5.30% ( 5.30 % ) subordinated notes due 2016 and the floating-rate subordinated notes due 2015 , state street bank is required to make semi-annual interest payments on the outstanding principal balance of the 5.30% ( 5.30 % ) notes on january 15 and july 15 of each year beginning in july 2006 , and quarterly interest payments on the outstanding principal balance of the floating-rate notes on march 8 , june 8 , september 8 and december 8 of each year beginning in march 2006 . the notes qualify as tier 2 capital under regulatory capital guidelines . note 10 . commitments and contingencies off-balance sheet commitments and contingencies : credit-related financial instruments include indemnified securities financing , unfunded commitments to extend credit or purchase assets and standby letters of credit . the total potential loss on unfunded commitments , standby and commercial letters of credit and securities finance indemnifications is equal to the total contractual amount , which does not consider the value of any collateral . the following is a summary of the contractual amount of credit-related , off-balance sheet financial instruments at december 31 . amounts reported do not reflect participations to unrelated third parties. .
|( in millions )|2006|2005|
|indemnified securities financing|$ 506032|$ 372863|
|liquidity asset purchase agreements|30251|24412|
|unfunded commitments to extend credit|16354|14403|
|standby letters of credit|4926|5027|
on behalf of our customers , we lend their securities to creditworthy brokers and other institutions . in certain circumstances , we may indemnify our customers for the fair market value of those securities against a failure of the borrower to return such securities . collateral funds received in connection with our securities finance services are held by us as agent and are not recorded in our consolidated statement of condition . we require the borrowers to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the fair market value of the securities borrowed . the borrowed securities are revalued daily to determine if additional collateral is necessary . we held , as agent , cash and u.s . government securities totaling $ 527.37 billion and $ 387.22 billion as collateral for indemnified securities on loan at december 31 , 2006 and 2005 , respectively . approximately 81% ( 81 % ) of the unfunded commitments to extend credit and liquidity asset purchase agreements expire within one year from the date of issue . since many of the commitments are expected to expire or renew without being drawn upon , the total commitment amounts do not necessarily represent future cash requirements . in the normal course of business , we provide liquidity and credit enhancements to asset-backed commercial paper programs , or 201cconduits . 201d these conduits are more fully described in note 11 . the commercial paper issuances and commitments of the conduits to provide funding are supported by liquidity asset purchase agreements and backup liquidity lines of credit , the majority of which are provided by us . in addition , we provide direct credit support to the conduits in the form of standby letters of credit . our commitments under liquidity asset purchase agreements and backup lines of credit totaled $ 23.99 billion at december 31 , 2006 , and are included in the preceding table . our commitments under seq 83 copyarea : 38 . x 54 . trimsize : 8.25 x 10.75 typeset state street corporation serverprocess c:\\fc\\delivery_1024177\\2771-1-dm_p.pdf chksum : 0 cycle 1merrill corporation 07-2771-1 thu mar 01 17:10:46 2007 ( v 2.247w--stp1pae18 ) .
Question: what is the percentage change in the balance of indemnified securities financing from 2005 to 2006?
Answer: | 0.35715 |
FINQA4504 | Please answer the given financial question based on the context.
Context: during 2009 , the company extended the contractual life of 4 million fully vested share options held by 6 employees . as a result of that modification , the company recognized additional compensation expense of $ 1 million for the year ended december 31 , 2009 . restricted stock units ( 201crsus 201d ) performance-based rsus . the company grants performance-based rsus to the company 2019s executive officers and certain employees once per year . the company may also grant performance-based rsus to certain new employees or to employees who assume positions of increasing responsibility at the time those events occur . the number of performance-based rsus that ultimately vest is dependent on one or both of the following as per the terms of the specific award agreement : the achievement of 1 ) internal profitability targets ( performance condition ) and 2 ) market performance targets measured by the comparison of the company 2019s stock performance versus a defined peer group ( market condition ) . the performance-based rsus generally cliff-vest during the company 2019s quarter-end september 30 black-out period three years from the date of grant . the ultimate number of shares of the company 2019s series a common stock issued will range from zero to stretch , with stretch defined individually under each award , net of personal income taxes withheld . the market condition is factored into the estimated fair value per unit and compensation expense for each award will be based on the probability of achieving internal profitability targets , as applicable , and recognized on a straight-line basis over the term of the respective grant , less estimated forfeitures . for performance-based rsus granted without a performance condition , compensation expense is based on the fair value per unit recognized on a straight-line basis over the term of the grant , less estimated forfeitures . in april 2007 , the company granted performance-based rsus to certain employees that vest annually in equal tranches beginning october 1 , 2008 through october 1 , 2011 and include a market condition . the performance- based rsus awarded include a catch-up provision that provides for an additional year of vesting of previously unvested amounts , subject to certain maximums . compensation expense is based on the fair value per unit recognized on a straight-line basis over the term of the grant , less estimated forfeitures . a summary of changes in performance-based rsus outstanding is as follows : number of weighted average fair value ( in thousands ) ( in $ ) .
||number of units ( in thousands )|weighted average fair value ( in $ )|
|nonvested at december 31 2008|1188|19.65|
|granted|420|38.16|
|vested|-79 ( 79 )|21.30|
|forfeited|-114 ( 114 )|17.28|
|nonvested at december 31 2009|1415|25.24|
the fair value of shares vested for performance-based rsus during the years ended december 31 , 2009 and 2008 was $ 2 million and $ 3 million , respectively . there were no vestings that occurred during the year ended december 31 , 2007 . fair value for the company 2019s performance-based rsus was estimated at the grant date using a monte carlo simulation approach . monte carlo simulation was utilized to randomly generate future stock returns for the company and each company in the defined peer group for each grant based on company-specific dividend yields , volatilities and stock return correlations . these returns were used to calculate future performance-based rsu vesting percentages and the simulated values of the vested performance-based rsus were then discounted to present value using a risk-free rate , yielding the expected value of these performance-based rsus . %%transmsg*** transmitting job : d70731 pcn : 119000000 ***%%pcmsg|119 |00016|yes|no|02/10/2010 16:17|0|0|page is valid , no graphics -- color : n| .
Question: what is the net change in the balance of non vested units during 2009?
Answer: | 227.0 |
FINQA4505 | 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 , 2012 in the standard & poor 2019s 500 index , the dow jones transportation average and our class b common stock. .
||12/31/2012|12/31/2013|12/31/2014|12/31/2015|12/31/2016|12/31/2017|
|united parcel service inc .|$ 100.00|$ 146.54|$ 159.23|$ 148.89|$ 182.70|$ 195.75|
|standard & poor 2019s 500 index|$ 100.00|$ 132.38|$ 150.49|$ 152.55|$ 170.79|$ 208.06|
|dow jones transportation average|$ 100.00|$ 141.38|$ 176.83|$ 147.19|$ 179.37|$ 213.49|
.
Question: what is the difference in percentage cumulative total shareowners return for united parcel service inc . versus the dow jones transportation average for the five years ended 12/31/2017?
Answer: | -0.1774 |
FINQA4506 | Please answer the given financial question based on the context.
Context: 2009 vs . 2008 revenues , net of interest expense increased 11% ( 11 % ) or $ 2.7 billion , as markets began to recover in the early part of 2009 , bringing back higher levels of volume activity and higher levels of liquidity , which began to decline again in the third quarter of 2009 . the growth in revenue in the early part of the year was mainly due to a $ 7.1 billion increase in fixed income markets , reflecting strong trading opportunities across all asset classes in the first half of 2009 , and a $ 1.5 billion increase in investment banking revenue primarily from increases in debt and equity underwriting activities reflecting higher transaction volumes from depressed 2008 levels . these increases were offset by a $ 6.4 billion decrease in lending revenue primarily from losses on credit default swap hedges . excluding the 2009 and 2008 cva impact , as indicated in the table below , revenues increased 23% ( 23 % ) or $ 5.5 billion . operating expenses decreased 17% ( 17 % ) , or $ 2.7 billion . excluding the 2008 repositioning and restructuring charges and the 2009 litigation reserve release , operating expenses declined 11% ( 11 % ) or $ 1.6 billion , mainly as a result of headcount reductions and benefits from expense management . provisions for loan losses and for benefits and claims decreased 7% ( 7 % ) or $ 129 million , to $ 1.7 billion , mainly due to lower credit reserve builds and net credit losses , due to an improved credit environment , particularly in the latter part of the year . 2008 vs . 2007 revenues , net of interest expense decreased 2% ( 2 % ) or $ 0.4 billion reflecting the overall difficult market conditions . excluding the 2008 and 2007 cva impact , revenues decreased 3% ( 3 % ) or $ 0.6 billion . the reduction in revenue was primarily due to a decrease in investment banking revenue of $ 2.3 billion to $ 3.2 billion , mainly in debt and equity underwriting , reflecting lower volumes , and a decrease in equity markets revenue of $ 2.3 billion to $ 2.9 billion due to extremely high volatility and reduced levels of activity . these reductions were offset by an increase in fixed income markets of $ 2.9 billion to $ 14.4 billion due to strong performance in interest rates and currencies , and an increase in lending revenue of $ 2.4 billion to $ 4.2 billion mainly from gains on credit default swap hedges . operating expenses decreased by 2% ( 2 % ) or $ 0.4 billion . excluding the 2008 and 2007 repositioning and restructuring charges and the 2007 litigation reserve reversal , operating expenses decreased by 7% ( 7 % ) or $ 1.1 billion driven by headcount reduction and lower performance-based incentives . provisions for credit losses and for benefits and claims increased $ 1.3 billion to $ 1.8 billion mainly from higher credit reserve builds and net credit losses offset by a lower provision for unfunded lending commitments due to deterioration in the credit environment . certain revenues impacting securities and banking items that impacted s&b revenues during 2009 and 2008 are set forth in the table below. .
|in millions of dollars|pretax revenue 2009|pretax revenue 2008|
|private equity and equity investments|$ 201|$ -377 ( 377 )|
|alt-a mortgages ( 1 ) ( 2 )|321|-737 ( 737 )|
|commercial real estate ( cre ) positions ( 1 ) ( 3 )|68|270|
|cva on citi debt liabilities under fair value option|-3974 ( 3974 )|4325|
|cva on derivatives positions excluding monoline insurers|2204|-3292 ( 3292 )|
|total significant revenue items|$ -1180 ( 1180 )|$ 189|
( 1 ) net of hedges . ( 2 ) for these purposes , alt-a mortgage securities are non-agency residential mortgage-backed securities ( rmbs ) where ( i ) the underlying collateral has weighted average fico scores between 680 and 720 or ( ii ) for instances where fico scores are greater than 720 , rmbs have 30% ( 30 % ) or less of the underlying collateral composed of full documentation loans . see 201cmanaging global risk 2014credit risk 2014u.s . consumer mortgage lending . 201d ( 3 ) s&b 2019s commercial real estate exposure is split into three categories of assets : held at fair value ; held- to-maturity/held-for-investment ; and equity . see 201cmanaging global risk 2014credit risk 2014exposure to commercial real estate 201d section for a further discussion . in the table above , 2009 includes a $ 330 million pretax adjustment to the cva balance , which reduced pretax revenues for the year , reflecting a correction of an error related to prior periods . see 201csignificant accounting policies and significant estimates 201d below and notes 1 and 34 to the consolidated financial statements for a further discussion of this adjustment . 2010 outlook the 2010 outlook for s&b will depend on the level of client activity and on macroeconomic conditions , market valuations and volatility , interest rates and other market factors . management of s&b currently expects to maintain client activity throughout 2010 and to operate in market conditions that offer moderate volatility and increased liquidity . operating expenses will benefit from continued re-engineering and expense management initiatives , but will be offset by investments in talent and infrastructure to support growth. .
Question: what was the change in millions of private equity and equity investments pretax revenue from 2008 to 2009?
Answer: | 578.0 |
FINQA4507 | Please answer the given financial question based on the context.
Context: dish network corporation notes to consolidated financial statements - continued capital lease obligations anik f3 . anik f3 , an fss satellite , was launched and commenced commercial operation during april 2007 . this satellite is accounted for as a capital lease and depreciated over the term of the satellite service agreement . we have leased 100% ( 100 % ) of the ku-band capacity on anik f3 for a period of 15 years . ciel ii . ciel ii , a canadian dbs satellite , was launched in december 2008 and commenced commercial operation during february 2009 . this satellite is accounted for as a capital lease and depreciated over the term of the satellite service agreement . we have leased 100% ( 100 % ) of the capacity on ciel ii for an initial 10 year term . as of december 31 , 2014 and 2013 , we had $ 500 million capitalized for the estimated fair value of satellites acquired under capital leases included in 201cproperty and equipment , net , 201d with related accumulated depreciation of $ 279 million and $ 236 million , respectively . in our consolidated statements of operations and comprehensive income ( loss ) , we recognized $ 43 million , $ 43 million and $ 43 million in depreciation expense on satellites acquired under capital lease agreements during the years ended december 31 , 2014 , 2013 and 2012 , respectively . future minimum lease payments under the capital lease obligations , together with the present value of the net minimum lease payments as of december 31 , 2014 are as follows ( in thousands ) : for the years ended december 31 .
|2015|$ 77089|
|2016|76809|
|2017|76007|
|2018|75982|
|2019|50331|
|thereafter|112000|
|total minimum lease payments|468218|
|less : amount representing lease of the orbital location and estimated executory costs ( primarily insurance and maintenance ) including profit thereon included in total minimum lease payments|-220883 ( 220883 )|
|net minimum lease payments|247335|
|less : amount representing interest|-52421 ( 52421 )|
|present value of net minimum lease payments|194914|
|less : current portion|-28378 ( 28378 )|
|long-term portion of capital lease obligations|$ 166536|
the summary of future maturities of our outstanding long-term debt as of december 31 , 2014 is included in the commitments table in note 16 . 12 . income taxes and accounting for uncertainty in income taxes income taxes our income tax policy is to record the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported on our consolidated balance sheets , as well as probable operating loss , tax credit and other carryforwards . deferred tax assets are offset by valuation allowances when we believe it is more likely than not that net deferred tax assets will not be realized . we periodically evaluate our need for a valuation allowance . determining necessary valuation allowances requires us to make assessments about historical financial information as well as the timing of future events , including the probability of expected future taxable income and available tax planning opportunities . we file consolidated tax returns in the u.s . the income taxes of domestic and foreign subsidiaries not included in the u.s . tax group are presented in our consolidated financial statements based on a separate return basis for each tax paying entity. .
Question: what percentage of future minimum lease payments under the capital lease obligations is due after 2019?
Answer: | 0.2392 |
FINQA4508 | Please answer the given financial question based on the context.
Context: the grand gulf recovery variance is primarily due to increased recovery of higher costs resulting from the grand gulf uprate . the volume/weather variance is primarily due to the effects of more favorable weather on residential sales and an increase in industrial sales primarily due to growth in the refining segment . the fuel recovery variance is primarily due to : 2022 the deferral of increased capacity costs that will be recovered through fuel adjustment clauses ; 2022 the expiration of the evangeline gas contract on january 1 , 2013 ; and 2022 an adjustment to deferred fuel costs recorded in the third quarter 2012 in accordance with a rate order from the puct issued in september 2012 . see note 2 to the financial statements for further discussion of this puct order issued in entergy texas's 2011 rate case . the miso deferral variance is primarily due to the deferral in april 2013 , as approved by the apsc , of costs incurred since march 2010 related to the transition and implementation of joining the miso rto . the decommissioning trusts variance is primarily due to lower regulatory credits resulting from higher realized income on decommissioning trust fund investments . there is no effect on net income as the credits are offset by interest and investment income . entergy wholesale commodities following is an analysis of the change in net revenue comparing 2013 to 2012 . amount ( in millions ) .
||amount ( in millions )|
|2012 net revenue|$ 1854|
|mark-to-market|-58 ( 58 )|
|nuclear volume|-24 ( 24 )|
|nuclear fuel expenses|-20 ( 20 )|
|nuclear realized price changes|58|
|other|-8 ( 8 )|
|2013 net revenue|$ 1802|
as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 52 million in 2013 primarily due to : 2022 the effect of rising forward power prices on electricity derivative instruments that are not designated as hedges , including additional financial power sales conducted in the fourth quarter 2013 to offset the planned exercise of in-the-money protective call options and to lock in margins . these additional sales did not qualify for hedge accounting treatment , and increases in forward prices after those sales were made accounted for the majority of the negative mark-to-market variance . it is expected that the underlying transactions will result in earnings in first quarter 2014 as these positions settle . see note 16 to the financial statements for discussion of derivative instruments ; 2022 the decrease in net revenue compared to prior year resulting from the exercise of resupply options provided for in purchase power agreements where entergy wholesale commodities may elect to supply power from another source when the plant is not running . amounts related to the exercise of resupply options are included in the gwh billed in the table below ; and entergy corporation and subsidiaries management's financial discussion and analysis .
Question: what is the mark-to-market as a percentage of the decrease in net revenue from 2012 to 2013?
Answer: | 1.11538 |
FINQA4509 | 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: rent charged to operating expense in millions totaled how much for 2014 and 2013?
Answer: | 633.0 |
FINQA4510 | Please answer the given financial question based on the context.
Context: concentration of credit risk credit risk represents the accounting loss that would be recognized at the reporting date if counterparties failed to perform as contracted . the company believes the likelihood of incurring material losses due to concentration of credit risk is remote . the principal financial instruments subject to credit risk are as follows : cash and cash equivalents - the company maintains cash deposits with major banks , which from time to time may exceed insured limits . the possibility of loss related to financial condition of major banks has been deemed minimal . additionally , the company 2019s investment policy limits exposure to concentrations of credit risk and changes in market conditions . accounts receivable - a large number of customers in diverse industries and geographies , as well as the practice of establishing reasonable credit lines , limits credit risk . based on historical trends and experiences , the allowance for doubtful accounts is adequate to cover potential credit risk losses . foreign currency and interest rate contracts and derivatives - exposure to credit risk is limited by internal policies and active monitoring of counterparty risks . in addition , the company uses a diversified group of major international banks and financial institutions as counterparties . the company does not anticipate nonperformance by any of these counterparties . cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased . accounts receivable and allowance for doubtful accounts accounts receivable are carried at their face amounts less an allowance for doubtful accounts . accounts receivable are recorded at the invoiced amount and generally do not bear interest . the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates . the company 2019s estimates include separately providing for customer balances based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible . account balances are charged off against the allowance when it is determined the receivable will not be recovered . the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 15 million as of december 31 , 2015 and 2014 and $ 14 million as of december 31 , 2013 . returns and credit activity is recorded directly to sales . the following table summarizes the activity in the allowance for doubtful accounts: .
|( millions )|2015|2014|2013|
|beginning balance|$ 77|$ 81|$ 73|
|bad debt expense|26|23|28|
|write-offs|-22 ( 22 )|-20 ( 20 )|-21 ( 21 )|
|other ( a )|-6 ( 6 )|-7 ( 7 )|1|
|ending balance|$ 75|$ 77|$ 81|
( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits . inventory valuations inventories are valued at the lower of cost or market . certain u.s . inventory costs are determined on a last-in , first-out ( lifo ) basis . lifo inventories represented 39% ( 39 % ) and 37% ( 37 % ) of consolidated inventories as of december 31 , 2015 and 2014 , respectively . lifo inventories include certain legacy nalco u.s . inventory acquired at fair value as part of the nalco merger . all other inventory costs are determined using either the average cost or first-in , first-out ( fifo ) methods . inventory values at fifo , as shown in note 5 , approximate replacement during the fourth quarter of 2015 , the company improved estimates related to its inventory reserves and product costing , resulting in a net pre-tax charge of approximately $ 6 million . separately , the actions resulted in charge of $ 20.6 million related to inventory reserve calculations , partially offset by a gain of $ 14.5 million related to the capitalization of certain cost components into inventory . both of these items are reflected in note 3. .
Question: what is the growth rate in the balance of allowance for doubtful accounts from 2014 to 2015?
Answer: | 75.0 |
FINQA4511 | Please answer the given financial question based on the context.
Context: republic services , inc . notes to consolidated financial statements 2014 ( continued ) credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits . concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas . we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico . we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables . we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information . accounts receivable , net accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services . our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash . the carrying value of our receivables , net of the allowance for doubtful accounts and customer credits , represents their estimated net realizable value . provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions . we also review outstanding balances on an account-specific basis . in general , reserves are provided for accounts receivable in excess of 90 days outstanding . past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due . the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31: .
||2014|2013|2012|
|balance at beginning of year|$ 38.3|$ 45.3|$ 48.1|
|additions charged to expense|22.6|16.1|29.7|
|accounts written-off|-22.0 ( 22.0 )|-23.1 ( 23.1 )|-32.5 ( 32.5 )|
|balance at end of year|$ 38.9|$ 38.3|$ 45.3|
restricted cash and marketable securities as of december 31 , 2014 , we had $ 115.6 million of restricted cash and marketable securities . we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers . the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance . as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets . in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance . at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts . property and equipment we record property and equipment at cost . expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred . when property is retired or otherwise disposed , the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of income. .
Question: as of december 31 , 2014 what was the ratio of the restricted cash and marketable securities to the balance in allowance for doubtful accounts
Answer: | 2.97172 |
FINQA4512 | 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 securities and exchange commission , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing . the following graph shows a five-year comparison of cumulative total shareowners 2019 returns for our class b common stock , the s&p 500 index , and the dow jones transportation average . the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2002 in the s&p 500 index , the dow jones transportation average , and the class b common stock of united parcel service , inc . comparison of five year cumulative total return $ 40.00 $ 60.00 $ 80.00 $ 100.00 $ 120.00 $ 140.00 $ 160.00 $ 180.00 $ 200.00 $ 220.00 2002 20072006200520042003 s&p 500 ups dj transport .
||12/31/02|12/31/03|12/31/04|12/31/05|12/31/06|12/31/07|
|united parcel service inc .|$ 100.00|$ 119.89|$ 139.55|$ 124.88|$ 127.08|$ 122.64|
|s&p 500 index|$ 100.00|$ 128.68|$ 142.68|$ 149.69|$ 173.33|$ 182.85|
|dow jones transportation average|$ 100.00|$ 131.84|$ 168.39|$ 188.00|$ 206.46|$ 209.40|
securities authorized for issuance under equity compensation plans the following table provides information as of december 31 , 2007 regarding compensation plans under which our class a common stock is authorized for issuance . these plans do not authorize the issuance of our class b common stock. .
Question: what was the difference in percentage five year cumulative total return for united parcel service inc . versus the s&p 500 index for the period ended 12/31/07?
Answer: | -0.6021 |
FINQA4513 | Please answer the given financial question based on the context.
Context: contracts and customer purchase orders are generally used to determine the existence of an arrangement . shipping documents are used to verify delivery . the company assesses whether the selling price is fixed or determinable based upon the payment terms associated with the transaction and whether the sales price is subject to refund or adjustment . the company assesses collectibility based primarily on the creditworthiness of the customer as determined by credit checks and analysis , as well as the customer 2019s payment history . accruals for customer returns for defective product are based on historical experience with similar types of sales . accruals for rebates and incentives are based on pricing agreements and are generally tied to sales volume . changes in such accruals may be required if future returns differ from historical experience or if actual sales volume differ from estimated sales volume . rebates and incentives are recognized as a reduction of sales . compensated absences . in the fourth quarter of 2001 , the company changed its vacation policy for certain employees so that vacation pay is earned ratably throughout the year and must be used by year-end . the accrual for compensated absences was reduced by $ 1.6 million in 2001 to eliminate vacation pay no longer required to be accrued under the current policy . advertising . advertising costs are charged to operations as incurred and amounted to $ 18.4 , $ 16.2 and $ 8.8 million during 2003 , 2002 and 2001 respectively . research and development . research and development costs are charged to operations as incurred and amounted to $ 34.6 , $ 30.4 and $ 27.6 million during 2003 , 2002 and 2001 , respectively . product warranty . the company 2019s products carry warranties that generally range from one to six years and are based on terms that are generally accepted in the market place . the company records a liability for the expected cost of warranty-related claims at the time of sale . the allocation of our warranty liability between current and long-term is based on expected warranty claims to be paid in the next year as determined by historical product failure rates . 1 . organization and significant accounting policies ( continued ) the following table presents the company 2019s product warranty liability activity in 2003 and 2002 : note to table : environmental costs . the company accrues for losses associated with environmental obligations when such losses are probable and reasonably estimable . costs of estimated future expenditures are not discounted to their present value . recoveries of environmental costs from other parties are recorded as assets when their receipt is considered probable . the accruals are adjusted as facts and circumstances change . stock based compensation . the company has one stock-based employee compensation plan ( see note 11 ) . sfas no . 123 , 201caccounting for stock-based compensation , 201d encourages , but does not require companies to record compensation cost for stock-based employee compensation plans at fair value . the company has chosen to continue applying accounting principles board opinion no . 25 , 201caccounting for stock issued to employees , 201d and related interpretations , in accounting for its stock option plans . accordingly , because the number of shares is fixed and the exercise price of the stock options equals the market price of the underlying stock on the date of grant , no compensation expense has been recognized . had compensation cost been determined based upon the fair value at the grant date for awards under the plans based on the provisions of sfas no . 123 , the company 2019s pro forma earnings and earnings per share would have been as follows: .
|years ended december 31 ( dollars in millions )|2003|2002|
|balance at beginning of year|$ 63.2|$ 69.6|
|expense|29.1|29.9|
|claims settled|-30.2 ( 30.2 )|-29.1 ( 29.1 )|
|customer warranty waiver ( 1 )|--|-7.2 ( 7.2 )|
|balance at end of year|$ 62.1|$ 63.2|
( 1 ) in exchange for other concessions , the customer has agreed to accept responsibility for units they have purchased from the company which become defective . the amount of the warranty reserve applicable to the estimated number of units previously sold to this customer that may become defective has been reclassified from the product warranty liability to a deferred revenue account. .
Question: what was the percentage change in research and development costs between 2002 and 2003?
Answer: | 0.13816 |
FINQA4514 | Please answer the given financial question based on the context.
Context: unallocated corporate items for fiscal 2018 , 2017 and 2016 included: .
|in millions|fiscal year 2018|fiscal year 2017|fiscal year 2016|
|net gain ( loss ) onmark-to-marketvaluation of commodity positions|$ 14.3|$ -22.0 ( 22.0 )|$ -69.1 ( 69.1 )|
|net loss on commodity positions reclassified from unallocated corporate items to segmentoperating profit|11.3|32.0|127.9|
|netmark-to-marketrevaluation of certain grain inventories|6.5|3.9|4.0|
|netmark-to-marketvaluation of certain commodity positions recognized in unallocated corporate items|$ 32.1|$ 13.9|$ 62.8|
net mark-to-market valuation of certain commodity positions recognized in unallocated corporate items $ 32.1 $ 13.9 $ 62.8 as of may 27 , 2018 , the net notional value of commodity derivatives was $ 238.8 million , of which $ 147.9 million related to agricultural inputs and $ 90.9 million related to energy inputs . these contracts relate to inputs that generally will be utilized within the next 12 months . interest rate risk we are exposed to interest rate volatility with regard to future issuances of fixed-rate debt , and existing and future issuances of floating-rate debt . primary exposures include u.s . treasury rates , libor , euribor , and commercial paper rates in the united states and europe . we use interest rate swaps , forward-starting interest rate swaps , and treasury locks to hedge our exposure to interest rate changes , to reduce the volatility of our financing costs , and to achieve a desired proportion of fixed rate versus floating-rate debt , based on current and projected market conditions . generally under these swaps , we agree with a counterparty to exchange the difference between fixed-rate and floating-rate interest amounts based on an agreed upon notional principal amount . floating interest rate exposures 2014 floating-to-fixed interest rate swaps are accounted for as cash flow hedges , as are all hedges of forecasted issuances of debt . effectiveness is assessed based on either the perfectly effective hypothetical derivative method or changes in the present value of interest payments on the underlying debt . effective gains and losses deferred to aoci are reclassified into earnings over the life of the associated debt . ineffective gains and losses are recorded as net interest . the amount of hedge ineffectiveness was a $ 2.6 million loss in fiscal 2018 , and less than $ 1 million in fiscal 2017 and 2016 . fixed interest rate exposures 2014 fixed-to-floating interest rate swaps are accounted for as fair value hedges with effectiveness assessed based on changes in the fair value of the underlying debt and derivatives , using incremental borrowing rates currently available on loans with similar terms and maturities . ineffective gains and losses on these derivatives and the underlying hedged items are recorded as net interest . the amount of hedge ineffectiveness was a $ 3.4 million loss in fiscal 2018 , a $ 4.3 million gain in fiscal 2017 , and less than $ 1 million in fiscal 2016 . in advance of planned debt financing related to the acquisition of blue buffalo , we entered into $ 3800.0 million of treasury locks due april 19 , 2018 , with an average fixed rate of 2.9 percent , of which $ 2300.0 million were entered into in the third quarter of fiscal 2018 and $ 1500.0 million were entered into in the fourth quarter of fiscal 2018 . all of these treasury locks were cash settled for $ 43.9 million during the fourth quarter of fiscal 2018 , concurrent with the issuance of our $ 850.0 million 5.5-year fixed-rate notes , $ 800.0 million 7-year fixed- rate notes , $ 1400.0 million 10-year fixed-rate notes , $ 500.0 million 20-year fixed-rate notes , and $ 650.0 million 30-year fixed-rate notes . in advance of planned debt financing , in fiscal 2018 , we entered into $ 500.0 million of treasury locks due october 15 , 2017 with an average fixed rate of 1.8 percent . all of these treasury locks were cash settled for $ 3.7 million during the second quarter of fiscal 2018 , concurrent with the issuance of our $ 500.0 million 5-year fixed-rate notes. .
Question: what is the net change of netmark-to-marketvaluation of certain commodity positions from 2017 to 2018?
Answer: | 18.2 |
FINQA4515 | Please answer the given financial question based on the context.
Context: remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 90.8 million ( 201cresidual value guarantee 201d ) . in august 1999 , we entered into a five-year lease agreement for our other two office buildings that currently serve as our corporate headquarters in san jose , california . under the agreement , we have the option to purchase the buildings at any time during the lease term for the lease balance , which is approximately $ 142.5 million . the lease is subject to standard covenants including liquidity , leverage and profitability ratios that are reported to the lessor quarterly . as of november 28 , 2003 , we were in compliance with all covenants . in the case of a default , the lessor may demand we purchase the buildings for an amount equal to the lease balance , or require that we remarket or relinquish the buildings . the agreement qualifies for operating lease accounting treatment under sfas 13 and , as such , the buildings and the related obligation are not included on our balance sheet . we utilized this type of financing because it allows us to access bank-provided funding at the most favorable rates and allows us to maintain our cash balances for other corporate purposes . at the end of the lease term , we can purchase the buildings for the lease balance , remarket or relinquish the buildings . if we choose to remarket or are required to do so upon relinquishing the buildings , we are bound to arrange the sale of the buildings to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 132.6 million ( 201cresidual value guarantee 201d ) . there were no changes in the agreement or level of obligations from the end of fiscal 2002 . we are in the process of evaluating alternative financing methods at expiration of the lease in fiscal 2004 and believe that several suitable financing options will be available to us . as of november 28 , 2003 , future minimum lease payments under noncancelable operating leases and future minimum sublease income under noncancelable subleases are as follows : fiscal year future minimum lease payments future minimum sublease income .
|fiscal year|future minimum lease payments|future minimum sublease income|
|2004|$ 29454|$ 5859|
|2005|20746|5798|
|2006|16796|5839|
|2007|12188|3819|
|2008|9596|1678|
|thereafter|20900|2811|
|total|$ 109680|$ 25804|
royalties we have certain royalty commitments associated with the shipment and licensing of certain products . royalty expense is generally based on a dollar amount per unit shipped or a percentage of the underlying revenue . royalty expense , which was recorded under our cost of products revenue on our consolidated statements of income , was approximately $ 14.5 million , $ 14.4 million and $ 14.1 million in fiscal 2003 , 2002 and 2001 , respectively . guarantees we adopted fin 45 at the beginning of our fiscal year 2003 . see 201cguarantees 201d and 201crecent accounting pronouncements 201d in note 1 of our notes to consolidated financial statements for further information regarding fin 45 . legal actions in early 2002 , international typeface corporation ( 201citc 201d ) and agfa monotype corporation ( 201camt 201d ) , companies which have common ownership and management , each charged , by way of informal letters to adobe , that adobe's distribution of font software , which generates itc and amt typefaces , breaches its contracts with itc and amt , respectively , pursuant to which adobe licensed certain rights with respect to itc and amt typefaces . amt and itc further charged that adobe violated the digital millennium copyright act ( 201cdmca 201d ) with respect to , or induced or contributed to , the infringement of copyrights in , itc 2019s and amt's truetype font software. .
Question: what is the net cash outflow related to future lease payments in 2004?
Answer: | 23595.0 |
FINQA4516 | Please answer the given financial question based on the context.
Context: a reconciliation of the beginning and ending amount of unrecognized tax benefits , for the periods indicated , is as follows: .
|( dollars in thousands )|2010|2009|2008|
|balance at january 1|$ 29010|$ 34366|$ 29132|
|additions based on tax positions related to the current year|7119|6997|5234|
|additions for tax positions of prior years|-|-|-|
|reductions for tax positions of prior years|-|-|-|
|settlements with taxing authorities|-12356 ( 12356 )|-12353 ( 12353 )|-|
|lapses of applicable statutes of limitations|-|-|-|
|balance at december 31|$ 23773|$ 29010|$ 34366|
the entire amount of the unrecognized tax benefits would affect the effective tax rate if recognized . in 2010 , the company favorably settled a 2003 and 2004 irs audit . the company recorded a net overall tax benefit including accrued interest of $ 25920 thousand . in addition , the company was also able to take down a $ 12356 thousand fin 48 reserve that had been established regarding the 2003 and 2004 irs audit . the company is no longer subject to u.s . federal , state and local or foreign income tax examinations by tax authorities for years before 2007 . the company recognizes accrued interest related to net unrecognized tax benefits and penalties in income taxes . during the years ended december 31 , 2010 , 2009 and 2008 , the company accrued and recognized a net expense ( benefit ) of approximately $ ( 9938 ) thousand , $ 1563 thousand and $ 2446 thousand , respectively , in interest and penalties . included within the 2010 net expense ( benefit ) of $ ( 9938 ) thousand is $ ( 10591 ) thousand of accrued interest related to the 2003 and 2004 irs audit . the company is not aware of any positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within twelve months of the reporting date . for u.s . income tax purposes the company has foreign tax credit carryforwards of $ 55026 thousand that begin to expire in 2014 . in addition , for u.s . income tax purposes the company has $ 41693 thousand of alternative minimum tax credits that do not expire . management believes that it is more likely than not that the company will realize the benefits of its net deferred tax assets and , accordingly , no valuation allowance has been recorded for the periods presented . tax benefits of $ 629 thousand and $ 1714 thousand related to share-based compensation deductions for stock options exercised in 2010 and 2009 , respectively , are included within additional paid-in capital of the shareholders 2019 equity section of the consolidated balance sheets. .
Question: in 2010 what was the percentage change in the unrecognized tax benefits,
Answer: | -0.18052 |
FINQA4517 | Please answer the given financial question based on the context.
Context: basel iii ( full implementation ) citigroup 2019s capital resources under basel iii ( full implementation ) citi currently estimates that its effective minimum common equity tier 1 capital , tier 1 capital and total capital ratio requirements under the u.s . basel iii rules , on a fully implemented basis and assuming a 3% ( 3 % ) gsib surcharge , may be 10% ( 10 % ) , 11.5% ( 11.5 % ) and 13.5% ( 13.5 % ) , respectively . further , under the u.s . basel iii rules , citi must also comply with a 4% ( 4 % ) minimum tier 1 leverage ratio requirement and an effective 5% ( 5 % ) minimum supplementary leverage ratio requirement . the following tables set forth the capital tiers , total risk-weighted assets , risk-based capital ratios , quarterly adjusted average total assets , total leverage exposure and leverage ratios , assuming full implementation under the u.s . basel iii rules , for citi as of december 31 , 2015 and december 31 , 2014 . citigroup capital components and ratios under basel iii ( full implementation ) december 31 , 2015 december 31 , 2014 ( 1 ) in millions of dollars , except ratios advanced approaches standardized approach advanced approaches standardized approach .
|in millions of dollars except ratios|december 31 2015 advanced approaches|december 31 2015 standardized approach|december 31 2015 advanced approaches|standardized approach|
|common equity tier 1 capital|$ 146865|$ 146865|$ 136597|$ 136597|
|tier 1 capital|164036|164036|148066|148066|
|total capital ( tier 1 capital + tier 2 capital ) ( 2 )|186097|198655|165454|178413|
|total risk-weighted assets|1216277|1162884|1292605|1228488|
|common equity tier 1 capital ratio ( 3 ) ( 4 )|12.07% ( 12.07 % )|12.63% ( 12.63 % )|10.57% ( 10.57 % )|11.12% ( 11.12 % )|
|tier 1 capital ratio ( 3 ) ( 4 )|13.49|14.11|11.45|12.05|
|total capital ratio ( 3 ) ( 4 )|15.30|17.08|12.80|14.52|
common equity tier 1 capital ratio ( 3 ) ( 4 ) 12.07% ( 12.07 % ) 12.63% ( 12.63 % ) 10.57% ( 10.57 % ) 11.12% ( 11.12 % ) tier 1 capital ratio ( 3 ) ( 4 ) 13.49 14.11 11.45 12.05 total capital ratio ( 3 ) ( 4 ) 15.30 17.08 12.80 14.52 in millions of dollars , except ratios december 31 , 2015 december 31 , 2014 ( 1 ) quarterly adjusted average total assets ( 5 ) $ 1724710 $ 1835637 total leverage exposure ( 6 ) 2317849 2492636 tier 1 leverage ratio ( 4 ) 9.51% ( 9.51 % ) 8.07% ( 8.07 % ) supplementary leverage ratio ( 4 ) 7.08 5.94 ( 1 ) restated to reflect the retrospective adoption of asu 2014-01 for lihtc investments , consistent with current period presentation . ( 2 ) under the advanced approaches framework eligible credit reserves that exceed expected credit losses are eligible for inclusion in tier 2 capital to the extent the excess reserves do not exceed 0.6% ( 0.6 % ) of credit risk-weighted assets , which differs from the standardized approach in which the allowance for credit losses is eligible for inclusion in tier 2 capital up to 1.25% ( 1.25 % ) of credit risk-weighted assets , with any excess allowance for credit losses being deducted in arriving at credit risk-weighted assets . ( 3 ) as of december 31 , 2015 and december 31 , 2014 , citi 2019s common equity tier 1 capital , tier 1 capital , and total capital ratios were the lower derived under the basel iii advanced approaches framework . ( 4 ) citi 2019s basel iii capital ratios and related components , on a fully implemented basis , are non-gaap financial measures . citi believes these ratios and the related components provide useful information to investors and others by measuring citi 2019s progress against future regulatory capital standards . ( 5 ) tier 1 leverage ratio denominator . ( 6 ) supplementary leverage ratio denominator. .
Question: what is the difference in the total capital ratio between the advanced approaches and the standardized approach at december 31 , 2015?
Answer: | -1.78 |
FINQA4518 | Please answer the given financial question based on the context.
Context: december 2016 acquisition of camber and higher volumes in fleet support and oil and gas services , partially offset by lower nuclear and environmental volumes due to the resolution in 2016 of outstanding contract changes on a nuclear and environmental commercial contract . segment operating income 2018 - operating income in the technical solutions segment for the year ended december 31 , 2018 , was $ 32 million , compared to operating income of $ 21 million in 2017 . the increase was primarily due to an allowance for accounts receivable in 2017 on a nuclear and environmental commercial contract and higher income from operating investments at our nuclear and environmental joint ventures , partially offset by one time employee bonus payments in 2018 related to the tax act and lower performance in fleet support services . 2017 - operating income in the technical solutions segment for the year ended december 31 , 2017 , was $ 21 million , compared to operating income of $ 8 million in 2016 . the increase was primarily due to improved performance in oil and gas services and higher volume in mdis services following the december 2016 acquisition of camber , partially offset by the establishment of an allowance for accounts receivable on a nuclear and environmental commercial contract in 2017 and the resolution in 2016 of outstanding contract changes on a nuclear and environmental commercial contract . backlog total backlog as of december 31 , 2018 , was approximately $ 23 billion . total backlog includes both funded backlog ( firm orders for which funding is contractually obligated by the customer ) and unfunded backlog ( firm orders for which funding is not currently contractually obligated by the customer ) . backlog excludes unexercised contract options and unfunded idiq orders . for contracts having no stated contract values , backlog includes only the amounts committed by the customer . the following table presents funded and unfunded backlog by segment as of december 31 , 2018 and 2017: .
|( $ in millions )|december 31 2018 funded|december 31 2018 unfunded|december 31 2018 total backlog|december 31 2018 funded|december 31 2018 unfunded|total backlog|
|ingalls|$ 9943|$ 1422|$ 11365|$ 5920|$ 2071|$ 7991|
|newport news|6767|4144|10911|6976|5608|12584|
|technical solutions|339|380|719|478|314|792|
|total backlog|$ 17049|$ 5946|$ 22995|$ 13374|$ 7993|$ 21367|
we expect approximately 30% ( 30 % ) of the $ 23 billion total backlog as of december 31 , 2018 , to be converted into sales in 2019 . u.s . government orders comprised substantially all of the backlog as of december 31 , 2018 and 2017 . awards 2018 - the value of new contract awards during the year ended december 31 , 2018 , was approximately $ 9.8 billion . significant new awards during the period included contracts for the construction of three arleigh burke class ( ddg 51 ) destroyers , for the detail design and construction of richard m . mccool jr . ( lpd 29 ) , for procurement of long-lead-time material for enterprise ( cvn 80 ) , and for the construction of nsc 10 ( unnamed ) and nsc 11 ( unnamed ) . in addition , we received awards in 2019 valued at $ 15.2 billion for detail design and construction of the gerald r . ford class ( cvn 78 ) aircraft carriers enterprise ( cvn 80 ) and cvn 81 ( unnamed ) . 2017 - the value of new contract awards during the year ended december 31 , 2017 , was approximately $ 8.1 billion . significant new awards during this period included the detailed design and construction contract for bougainville ( lha 8 ) and the execution contract for the rcoh of uss george washington ( cvn 73 ) . .
Question: what is the percent of ingalls backlog to the total sum of the backlogs
Answer: | 0.37399 |
FINQA4519 | Please answer the given financial question based on the context.
Context: in february 2008 , we issued $ 300.0 million of 8.375% ( 8.375 % ) series o cumulative redeemable preferred shares . the indentures ( and related supplemental indentures ) governing our outstanding series of notes also require us to comply with financial ratios and other covenants regarding our operations . we were in compliance with all such covenants as of december 31 , 2007 . sale of real estate assets we utilize sales of real estate assets as an additional source of liquidity . we pursue opportunities to sell real estate assets at favorable prices to capture value created by us as well as to improve the overall quality of our portfolio by recycling sale proceeds into new properties with greater value creation opportunities . uses of liquidity our principal uses of liquidity include the following : 2022 property investments ; 2022 recurring leasing/capital costs ; 2022 dividends and distributions to shareholders and unitholders ; 2022 long-term debt maturities ; and 2022 other contractual obligations property investments we evaluate development and acquisition opportunities based upon market outlook , supply and long-term growth potential . recurring expenditures one of our principal uses of our liquidity is to fund the recurring leasing/capital expenditures of our real estate investments . the following is a summary of our recurring capital expenditures for the years ended december 31 , 2007 , 2006 and 2005 , respectively ( in thousands ) : .
||2007|2006|2005|
|recurring tenant improvements|$ 45296|$ 41895|$ 60633|
|recurring leasing costs|32238|32983|33175|
|building improvements|8402|8122|15232|
|totals|$ 85936|$ 83000|$ 109040|
dividends and distributions in order to qualify as a reit for federal income tax purposes , we must currently distribute at least 90% ( 90 % ) of our taxable income to shareholders . we paid dividends per share of $ 1.91 , $ 1.89 and $ 1.87 for the years ended december 31 , 2007 , 2006 and 2005 , respectively . we also paid a one-time special dividend of $ 1.05 per share in 2005 as a result of the significant gain realized from an industrial portfolio sale . we expect to continue to distribute taxable earnings to meet the requirements to maintain our reit status . however , distributions are declared at the discretion of our board of directors and are subject to actual cash available for distribution , our financial condition , capital requirements and such other factors as our board of directors deems relevant . debt maturities debt outstanding at december 31 , 2007 totaled $ 4.3 billion with a weighted average interest rate of 5.74% ( 5.74 % ) maturing at various dates through 2028 . we had $ 3.2 billion of unsecured notes , $ 546.1 million outstanding on our unsecured lines of credit and $ 524.4 million of secured debt outstanding at december 31 , 2007 . scheduled principal amortization and maturities of such debt totaled $ 249.8 million for the year ended december 31 , 2007 and $ 146.4 million of secured debt was transferred to unconsolidated subsidiaries in connection with the contribution of properties in 2007. .
Question: what was the percent of the increase in the dividends paid per share from 2006 to 2007
Answer: | 0.01058 |
FINQA4520 | Please answer the given financial question based on the context.
Context: the pnc financial services group , inc . 2013 form 10-k 29 part ii item 5 2013 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities ( a ) ( 1 ) our common stock is listed on the new york stock exchange and is traded under the symbol 201cpnc . 201d at the close of business on february 15 , 2019 , there were 53986 common shareholders of record . holders of pnc common stock are entitled to receive dividends when declared by our board of directors out of funds legally available for this purpose . our board of directors may not pay or set apart dividends on the common stock until dividends for all past dividend periods on any series of outstanding preferred stock and certain outstanding capital securities issued by the parent company have been paid or declared and set apart for payment . the board of directors presently intends to continue the policy of paying quarterly cash dividends . the amount of any future dividends will depend on economic and market conditions , our financial condition and operating results , and other factors , including contractual restrictions and applicable government regulations and policies ( such as those relating to the ability of bank and non-bank subsidiaries to pay dividends to the parent company and regulatory capital limitations ) . the amount of our dividend is also currently subject to the results of the supervisory assessment of capital adequacy and capital planning processes undertaken by the federal reserve and our primary bank regulators as part of the comprehensive capital analysis and review ( ccar ) process as described in the supervision and regulation section in item 1 of this report . the federal reserve has the power to prohibit us from paying dividends without its approval . for further information concerning dividend restrictions and other factors that could limit our ability to pay dividends , as well as restrictions on loans , dividends or advances from bank subsidiaries to the parent company , see the supervision and regulation section in item 1 , item 1a risk factors , the liquidity and capital management portion of the risk management section in item 7 , and note 10 borrowed funds , note 15 equity and note 18 regulatory matters in the notes to consolidated financial statements in item 8 of this report , which we include here by reference . we include here by reference the information regarding our compensation plans under which pnc equity securities are authorized for issuance as of december 31 , 2018 in the table ( with introductory paragraph and notes ) in item 12 of this report . our stock transfer agent and registrar is : computershare trust company , n.a . 250 royall street canton , ma 02021 800-982-7652 www.computershare.com/pnc registered shareholders may contact computershare regarding dividends and other shareholder services . we include here by reference the information that appears under the common stock performance graph caption at the end of this item 5 . ( a ) ( 2 ) none . ( b ) not applicable . ( c ) details of our repurchases of pnc common stock during the fourth quarter of 2018 are included in the following table : in thousands , except per share data 2018 period total shares purchased ( a ) average price paid per share total shares purchased as part of publicly announced programs ( b ) maximum number of shares that may yet be purchased under the programs ( b ) .
|2018 period|total shares purchased ( a )|average price paid per share|total shares purchased as part of publicly announced programs ( b )|maximum number of shares that may yet be purchased under the programs ( b )|
|october 1 2013 31|1204|$ 128.43|1189|25663|
|november 1 2013 30|1491|$ 133.79|1491|24172|
|december 1 2013 31|3458|$ 119.43|3458|20714|
|total|6153|$ 124.67|||
( a ) includes pnc common stock purchased in connection with our various employee benefit plans generally related to forfeitures of unvested restricted stock awards and shares used to cover employee payroll tax withholding requirements . note 11 employee benefit plans and note 12 stock based compensation plans in the notes to consolidated financial statements in item 8 of this report include additional information regarding our employee benefit and equity compensation plans that use pnc common stock . ( b ) on march 11 , 2015 , we announced that our board of directors approved a stock repurchase program authorization in the amount of 100 million shares of pnc common stock , effective april 1 , 2015 . repurchases are made in open market or privately negotiated transactions and the timing and exact amount of common stock repurchases will depend on a number of factors including , among others , market and general economic conditions , regulatory capital considerations , alternative uses of capital , the potential impact on our credit ratings , and contractual and regulatory limitations , including the results of the supervisory assessment of capital adequacy and capital planning processes undertaken by the federal reserve as part of the ccar process . in june 2018 , we announced share repurchase programs of up to $ 2.0 billion for the four quarter period beginning with the third quarter of 2018 , including repurchases of up to $ 300 million related to stock issuances under employee benefit plans , in accordance with pnc's 2018 capital plan . in november 2018 , we announced an increase to these previously announced programs in the amount of up to $ 900 million in additional common share repurchases . the aggregate repurchase price of shares repurchased during the fourth quarter of 2018 was $ .8 billion . see the liquidity and capital management portion of the risk management section in item 7 of this report for more information on the authorized share repurchase programs for the period july 1 , 2018 through june 30 , 2019 . http://www.computershare.com/pnc .
Question: for the period of october 1 2013 31 , what percent of share purchases were not shares purchased as part of publicly announced programs?
Answer: | 0.01246 |
FINQA4521 | Please answer the given financial question based on the context.
Context: 12 . brokerage receivables and brokerage payables citi has receivables and payables for financial instruments sold to and purchased from brokers , dealers and customers , which arise in the ordinary course of business . citi is exposed to risk of loss from the inability of brokers , dealers or customers to pay for purchases or to deliver the financial instruments sold , in which case citi would have to sell or purchase the financial instruments at prevailing market prices . credit risk is reduced to the extent that an exchange or clearing organization acts as a counterparty to the transaction and replaces the broker , dealer or customer in question . citi seeks to protect itself from the risks associated with customer activities by requiring customers to maintain margin collateral in compliance with regulatory and internal guidelines . margin levels are monitored daily , and customers deposit additional collateral as required . where customers cannot meet collateral requirements , citi may liquidate sufficient underlying financial instruments to bring the customer into compliance with the required margin level . exposure to credit risk is impacted by market volatility , which may impair the ability of clients to satisfy their obligations to citi . credit limits are established and closely monitored for customers and for brokers and dealers engaged in forwards , futures and other transactions deemed to be credit sensitive . brokerage receivables and brokerage payables consisted of the following: .
|in millions of dollars|december 31 , 2017|december 31 , 2016|
|receivables from customers|$ 19215|$ 10374|
|receivables from brokers dealers and clearing organizations|19169|18513|
|total brokerage receivables ( 1 )|$ 38384|$ 28887|
|payables to customers|$ 38741|$ 37237|
|payables to brokers dealers and clearing organizations|22601|19915|
|total brokerage payables ( 1 )|$ 61342|$ 57152|
payables to brokers , dealers and clearing organizations 22601 19915 total brokerage payables ( 1 ) $ 61342 $ 57152 ( 1 ) includes brokerage receivables and payables recorded by citi broker- dealer entities that are accounted for in accordance with the aicpa accounting guide for brokers and dealers in securities as codified in asc 940-320. .
Question: as of december 31 2016 what is the ratio of receivables from brokers dealers and clearing organizations to payables to brokers dealers and clearing organizations?
Answer: | 0.9296 |
FINQA4522 | Please answer the given financial question based on the context.
Context: regulatory balancing accounts accumulate differences between revenues recognized and authorized revenue requirements until they are collected from customers or are refunded . regulatory balancing accounts include low income programs and purchased power and water accounts . debt expense is amortized over the lives of the respective issues . call premiums on the redemption of long- term debt , as well as unamortized debt expense , are deferred and amortized to the extent they will be recovered through future service rates . as a result of american water capital corp . 2019s prepayment of the 5.62% ( 5.62 % ) series c senior notes due december 21 , 2018 ( 201cseries c senior notes 201d ) and 5.77% ( 5.77 % ) series d senior notes due december 21 , 2021 ( 201cseries d senior notes 201d ) and payment of a make-whole premium amount to the holders thereof of $ 34 million , the company recorded a $ 6 million charge resulting from the early extinguishment of debt at the parent company . substantially all of the early debt extinguishment costs allocable to the company 2019s utility subsidiaries were recorded as regulatory assets that the company believes are probable of recovery in future rates . approximately $ 1 million of the early debt extinguishment costs allocable to the company 2019s utility subsidiaries was amortized in 2017 . purchase premium recoverable through rates is primarily the recovery of the acquisition premiums related to an asset acquisition by the company 2019s california utility subsidiary during 2002 , and acquisitions in 2007 by the company 2019s new jersey utility subsidiary . as authorized for recovery by the california and new jersey pucs , these costs are being amortized to depreciation and amortization in the consolidated statements of operations through november 2048 . tank painting costs are generally deferred and amortized to operations and maintenance expense in the consolidated statements of operations on a straight-line basis over periods ranging from two to fifteen years , as authorized by the regulatory authorities in their determination of rates charged for service . other regulatory assets include certain construction costs for treatment facilities , property tax stabilization , employee-related costs , deferred other postretirement benefit expense , business services project expenses , coastal water project costs , rate case expenditures and environmental remediation costs among others . these costs are deferred because the amounts are being recovered in rates or are probable of recovery through rates in future periods . regulatory liabilities regulatory liabilities generally represent amounts that are probable of being credited or refunded to customers through the rate-making process . also , if costs expected to be incurred in the future are currently being recovered through rates , the company records those expected future costs as regulatory liabilities . the following table summarizes the composition of regulatory liabilities as of december 31: .
||2017|2016|
|income taxes recovered through rates|$ 1242|$ 2014|
|removal costs recovered through rates|315|316|
|pension and other postretirement benefit balancing accounts|48|55|
|other|59|32|
|total regulatory liabilities|$ 1664|$ 403|
income taxes recovered through rates relate to deferred taxes that will likely be refunded to the company 2019s customers . on december 22 , 2017 , the tcja was signed into law , which , among other things , enacted significant and complex changes to the internal revenue code of 1986 , including a reduction in the maximum u.s . federal corporate income tax rate from 35% ( 35 % ) to 21% ( 21 % ) as of january 1 , 2018 . the tcja created significant .
Question: in 2017 what was the ratio of the removal costs to the total regulatory costs
Answer: | 5.28254 |
FINQA4523 | Please answer the given financial question based on the context.
Context: 9 . junior subordinated debt securities payable in accordance with the provisions of the junior subordinated debt securities which were issued on march 29 , 2004 , holdings elected to redeem the $ 329897 thousand of 6.2% ( 6.2 % ) junior subordinated debt securities outstanding on may 24 , 2013 . as a result of the early redemption , the company incurred pre-tax expense of $ 7282 thousand related to the immediate amortization of the remaining capitalized issuance costs on the trust preferred securities . interest expense incurred in connection with these junior subordinated debt securities is as follows for the periods indicated: .
|( dollars in thousands )|years ended december 31 , 2014|years ended december 31 , 2013|years ended december 31 , 2012|
|interest expense incurred|$ -|$ 8181|$ 20454|
holdings considered the mechanisms and obligations relating to the trust preferred securities , taken together , constituted a full and unconditional guarantee by holdings of capital trust ii 2019s payment obligations with respect to their trust preferred securities . 10 . reinsurance and trust agreements certain subsidiaries of group have established trust agreements , which effectively use the company 2019s investments as collateral , as security for assumed losses payable to certain non-affiliated ceding companies . at december 31 , 2014 , the total amount on deposit in trust accounts was $ 322285 thousand . on april 24 , 2014 , the company entered into two collateralized reinsurance agreements with kilimanjaro re limited ( 201ckilimanjaro 201d ) , a bermuda based special purpose reinsurer , to provide the company with catastrophe reinsurance coverage . these agreements are multi-year reinsurance contracts which cover specified named storm and earthquake events . the first agreement provides up to $ 250000 thousand of reinsurance coverage from named storms in specified states of the southeastern united states . the second agreement provides up to $ 200000 thousand of reinsurance coverage from named storms in specified states of the southeast , mid-atlantic and northeast regions of the united states and puerto rico as well as reinsurance coverage from earthquakes in specified states of the southeast , mid-atlantic , northeast and west regions of the united states , puerto rico and british columbia . on november 18 , 2014 , the company entered into a collateralized reinsurance agreement with kilimanjaro re to provide the company with catastrophe reinsurance coverage . this agreement is a multi-year reinsurance contract which covers specified earthquake events . the agreement provides up to $ 500000 thousand of reinsurance coverage from earthquakes in the united states , puerto rico and canada . kilimanjaro has financed the various property catastrophe reinsurance coverage by issuing catastrophe bonds to unrelated , external investors . on april 24 , 2014 , kilimanjaro issued $ 450000 thousand of variable rate notes ( 201cseries 2014-1 notes 201d ) . on november 18 , 2014 , kilimanjaro issued $ 500000 thousand of variable rate notes ( 201cseries 2014-2 notes 201d ) . the proceeds from the issuance of the series 2014-1 notes and the series 2014-2 notes are held in reinsurance trust throughout the duration of the applicable reinsurance agreements and invested solely in us government money market funds with a rating of at least 201caaam 201d by standard & poor 2019s. .
Question: what was the ratio of interest incurred in 2013 to 2012
Answer: | 28635.0 |
FINQA4524 | Please answer the given financial question based on the context.
Context: cgmhi has committed long-term financing facilities with unaffiliated banks . at december 31 , 2010 , cgmhi had drawn down the full $ 900 million available under these facilities , of which $ 150 million is guaranteed by citigroup . generally , a bank can terminate these facilities by giving cgmhi one-year prior notice . the company issues both fixed and variable rate debt in a range of currencies . it uses derivative contracts , primarily interest rate swaps , to effectively convert a portion of its fixed rate debt to variable rate debt and variable rate debt to fixed rate debt . the maturity structure of the derivatives generally corresponds to the maturity structure of the debt being hedged . in addition , the company uses other derivative contracts to manage the foreign exchange impact of certain debt issuances . at december 31 , 2010 , the company 2019s overall weighted average interest rate for long-term debt was 3.53% ( 3.53 % ) on a contractual basis and 2.78% ( 2.78 % ) including the effects of derivative contracts . aggregate annual maturities of long-term debt obligations ( based on final maturity dates ) including trust preferred securities are as follows : long-term debt at december 31 , 2010 and december 31 , 2009 includes $ 18131 million and $ 19345 million , respectively , of junior subordinated debt . the company formed statutory business trusts under the laws of the state of delaware . the trusts exist for the exclusive purposes of ( i ) issuing trust securities representing undivided beneficial interests in the assets of the trust ; ( ii ) investing the gross proceeds of the trust securities in junior subordinated deferrable interest debentures ( subordinated debentures ) of its parent ; and ( iii ) engaging in only those activities necessary or incidental thereto . upon approval from the federal reserve , citigroup has the right to redeem these securities . citigroup has contractually agreed not to redeem or purchase ( i ) the 6.50% ( 6.50 % ) enhanced trust preferred securities of citigroup capital xv before september 15 , 2056 , ( ii ) the 6.45% ( 6.45 % ) enhanced trust preferred securities of citigroup capital xvi before december 31 , 2046 , ( iii ) the 6.35% ( 6.35 % ) enhanced trust preferred securities of citigroup capital xvii before march 15 , 2057 , ( iv ) the 6.829% ( 6.829 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xviii before june 28 , 2047 , ( v ) the 7.250% ( 7.250 % ) enhanced trust preferred securities of citigroup capital xix before august 15 , 2047 , ( vi ) the 7.875% ( 7.875 % ) enhanced trust preferred securities of citigroup capital xx before december 15 , 2067 , and ( vii ) the 8.300% ( 8.300 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xxi before december 21 , 2067 , unless certain conditions , described in exhibit 4.03 to citigroup 2019s current report on form 8-k filed on september 18 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on november 28 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on march 8 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on july 2 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on august 17 , 2007 , in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on november 27 , 2007 , and in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on december 21 , 2007 , respectively , are met . these agreements are for the benefit of the holders of citigroup 2019s 6.00% ( 6.00 % ) junior subordinated deferrable interest debentures due 2034 . citigroup owns all of the voting securities of these subsidiary trusts . these subsidiary trusts have no assets , operations , revenues or cash flows other than those related to the issuance , administration , and repayment of the subsidiary trusts and the subsidiary trusts 2019 common securities . these subsidiary trusts 2019 obligations are fully and unconditionally guaranteed by citigroup. .
|in millions of dollars|2011|2012|2013|2014|2015|thereafter|
|bank|$ 35066|$ 38280|$ 8013|$ 7620|$ 6380|$ 17875|
|non-bank|15213|25950|7858|5187|3416|18381|
|parent company|21194|30004|21348|19096|12131|88171|
|total|$ 71473|$ 94234|$ 37219|$ 31903|$ 21927|$ 124427|
.
Question: what was the percentage increase in the bank subsidiary trusts 2019 obligations from 2011 to 2012
Answer: | -31852.0 |
FINQA4525 | Please answer the given financial question based on the context.
Context: corporate & institutional banking corporate & institutional banking earned $ 1.9 billion in 2011 and $ 1.8 billion in 2010 . the increase in earnings was primarily due to an improvement in the provision for credit losses , which was a benefit in 2011 , partially offset by a reduction in the value of commercial mortgage servicing rights and lower net interest income . we continued to focus on adding new clients , increasing cross sales , and remaining committed to strong expense discipline . asset management group asset management group earned $ 141 million for 2011 compared with $ 137 million for 2010 . assets under administration were $ 210 billion at december 31 , 2011 and $ 212 billion at december 31 , 2010 . earnings for 2011 reflected a benefit from the provision for credit losses and growth in noninterest income , partially offset by higher noninterest expense and lower net interest income . for 2011 , the business delivered strong sales production , grew high value clients and benefitted from significant referrals from other pnc lines of business . over time and with stabilized market conditions , the successful execution of these strategies and the accumulation of our strong sales performance are expected to create meaningful growth in assets under management and noninterest income . residential mortgage banking residential mortgage banking earned $ 87 million in 2011 compared with $ 269 million in 2010 . the decline in earnings was driven by an increase in noninterest expense associated with increased costs for residential mortgage foreclosure- related expenses , primarily as a result of ongoing governmental matters , and lower net interest income , partially offset by an increase in loan originations and higher loans sales revenue . blackrock our blackrock business segment earned $ 361 million in 2011 and $ 351 million in 2010 . the higher business segment earnings from blackrock for 2011 compared with 2010 were primarily due to an increase in revenue . non-strategic assets portfolio this business segment ( formerly distressed assets portfolio ) consists primarily of acquired non-strategic assets that fall outside of our core business strategy . non-strategic assets portfolio had earnings of $ 200 million in 2011 compared with a loss of $ 57 million in 2010 . the increase was primarily attributable to a lower provision for credit losses partially offset by lower net interest income . 201cother 201d reported earnings of $ 376 million for 2011 compared with earnings of $ 386 million for 2010 . the decrease in earnings primarily reflected the noncash charge related to the redemption of trust preferred securities in the fourth quarter of 2011 and the gain related to the sale of a portion of pnc 2019s blackrock shares in 2010 partially offset by lower integration costs in 2011 . consolidated income statement review our consolidated income statement is presented in item 8 of this report . net income for 2011 was $ 3.1 billion compared with $ 3.4 billion for 2010 . results for 2011 include the impact of $ 324 million of residential mortgage foreclosure-related expenses primarily as a result of ongoing governmental matters , a $ 198 million noncash charge related to redemption of trust preferred securities and $ 42 million for integration costs . results for 2010 included the $ 328 million after-tax gain on our sale of gis , $ 387 million for integration costs , and $ 71 million of residential mortgage foreclosure-related expenses . for 2010 , net income attributable to common shareholders was also impacted by a noncash reduction of $ 250 million in connection with the redemption of tarp preferred stock . pnc 2019s results for 2011 were driven by good performance in a challenging environment of low interest rates , slow economic growth and new regulations . net interest income and net interest margin year ended december 31 dollars in millions 2011 2010 .
|year ended december 31dollars in millions|2011|2010|
|net interest income|$ 8700|$ 9230|
|net interest margin|3.92% ( 3.92 % )|4.14% ( 4.14 % )|
changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding . see the statistical information ( unaudited ) 2013 analysis of year-to-year changes in net interest income and average consolidated balance sheet and net interest analysis in item 8 and the discussion of purchase accounting accretion in the consolidated balance sheet review in item 7 of this report for additional information . the decreases in net interest income and net interest margin for 2011 compared with 2010 were primarily attributable to a decrease in purchase accounting accretion on purchased impaired loans primarily due to lower excess cash recoveries . a decline in average loan balances and the low interest rate environment , partially offset by lower funding costs , also contributed to the decrease . the pnc financial services group , inc . 2013 form 10-k 35 .
Question: how much more was the residential mortgage foreclosures in 2011 than in 2010?
Answer: | 253.0 |
FINQA4526 | Please answer the given financial question based on the context.
Context: credit rating fall below investment grade , the value of the outstanding undivided interest held by investors would be reduced , and , in certain cases , the investors would have the right to discontinue the facility . the railroad collected approximately $ 20.1 billion and $ 18.8 billion of receivables during the years ended december 31 , 2012 and 2011 , respectively . upri used certain of these proceeds to purchase new receivables under the facility . the costs of the receivables securitization facility include interest , which will vary based on prevailing commercial paper rates , program fees paid to banks , commercial paper issuing costs , and fees for unused commitment availability . the costs of the receivables securitization facility are included in interest expense and were $ 3 million , $ 4 million and $ 6 million for 2012 , 2011 and 2010 , respectively . the investors have no recourse to the railroad 2019s other assets , except for customary warranty and indemnity claims . creditors of the railroad do not have recourse to the assets of upri . in july 2012 , the receivables securitization facility was renewed for an additional 364-day period at comparable terms and conditions . subsequent event 2013 on january 2 , 2013 , we transferred an additional $ 300 million in undivided interest to investors under the receivables securitization facility , increasing the value of the outstanding undivided interest held by investors from $ 100 million to $ 400 million . contractual obligations and commercial commitments as described in the notes to the consolidated financial statements and as referenced in the tables below , we have contractual obligations and commercial commitments that may affect our financial condition . based on our assessment of the underlying provisions and circumstances of our contractual obligations and commercial commitments , including material sources of off-balance sheet and structured finance arrangements , other than the risks that we and other similarly situated companies face with respect to the condition of the capital markets ( as described in item 1a of part ii of this report ) , there is no known trend , demand , commitment , event , or uncertainty that is reasonably likely to occur that would have a material adverse effect on our consolidated results of operations , financial condition , or liquidity . in addition , our commercial obligations , financings , and commitments are customary transactions that are similar to those of other comparable corporations , particularly within the transportation industry . the following tables identify material obligations and commitments as of december 31 , 2012 : payments due by december 31 , contractual obligations after millions total 2013 2014 2015 2016 2017 2017 other .
|contractual obligationsmillions|total|payments due by december 31 2013|payments due by december 31 2014|payments due by december 31 2015|payments due by december 31 2016|payments due by december 31 2017|payments due by december 31 after2017|payments due by december 31 other|
|debt [a]|$ 12637|$ 507|$ 904|$ 632|$ 769|$ 900|$ 8925|$ -|
|operating leases [b]|4241|525|466|410|375|339|2126|-|
|capital lease obligations [c]|2441|282|265|253|232|243|1166|-|
|purchase obligations [d]|5877|3004|1238|372|334|213|684|32|
|other post retirement benefits [e]|452|43|44|45|45|46|229|-|
|income tax contingencies [f]|115|-|-|-|-|-|-|115|
|total contractualobligations|$ 25763|$ 4361|$ 2917|$ 1712|$ 1755|$ 1741|$ 13130|$ 147|
[a] excludes capital lease obligations of $ 1848 million and unamortized discount of $ ( 365 ) million . includes an interest component of $ 5123 million . [b] includes leases for locomotives , freight cars , other equipment , and real estate . [c] represents total obligations , including interest component of $ 593 million . [d] purchase obligations include locomotive maintenance contracts ; purchase commitments for fuel purchases , locomotives , ties , ballast , and rail ; and agreements to purchase other goods and services . for amounts where we cannot reasonably estimate the year of settlement , they are reflected in the other column . [e] includes estimated other post retirement , medical , and life insurance payments , payments made under the unfunded pension plan for the next ten years . [f] future cash flows for income tax contingencies reflect the recorded liabilities and assets for unrecognized tax benefits , including interest and penalties , as of december 31 , 2012 . for amounts where the year of settlement is uncertain , they are reflected in the other column. .
Question: what is the principal portion of total capital lease obligations , in millions?
Answer: | 1848.0 |
FINQA4527 | Please answer the given financial question based on the context.
Context: jpmorgan chase & co . / 2007 annual report 117 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 statement of income for the year ended december 31 , 2007 , related to financial instruments held at december 31 , 2007 . year ended december 31 , 2007 ( in millions ) 2007 .
|year ended december 31 2007 ( in millions )|2007|
|loans|$ -720 ( 720 )|
|other assets|-161 ( 161 )|
|accounts payable accrued expense and other liabilities|2|
|total nonrecurring fair value gains ( losses )|$ -879 ( 879 )|
in the above table , loans principally include changes in fair value for loans carried on the balance sheet at the lower of cost or fair value ; and accounts payable , accrued expense and other liabilities principally includes the change in fair value for unfunded lending-related commitments within the leveraged lending portfolio . level 3 assets analysis level 3 assets ( including assets measured at the lower of cost or fair value ) were 5% ( 5 % ) of total firm assets at december 31 , 2007 . these assets increased during 2007 principally during the second half of the year , when liquidity in mortgages and other credit products fell dra- matically . the increase was primarily due to an increase in leveraged loan balances within level 3 as the ability of the firm to syndicate this risk to third parties became limited by the credit environment . in addi- tion , there were transfers from level 2 to level 3 during 2007 . these transfers were principally for instruments within the mortgage market where inputs which are significant to their valuation became unob- servable during the year . subprime and alt-a whole loans , subprime home equity securities , commercial mortgage-backed mezzanine loans and credit default swaps referenced to asset-backed securities consti- tuted the majority of the affected instruments , reflecting a significant decline in liquidity in these instruments in the third and fourth quarters of 2007 , as new issue activity was nonexistent and independent pric- ing information was no longer available for these assets . transition in connection with the initial adoption of sfas 157 , the firm recorded the following on january 1 , 2007 : 2022 a cumulative effect increase to retained earnings of $ 287 million , primarily related to the release of profit previously deferred in accordance with eitf 02-3 ; 2022 an increase to pretax income of $ 166 million ( $ 103 million after-tax ) related to the incorporation of the firm 2019s creditworthiness in the valuation of liabilities recorded at fair value ; and 2022 an increase to pretax income of $ 464 million ( $ 288 million after-tax ) related to valuations of nonpublic private equity investments . prior to the adoption of sfas 157 , the firm applied the provisions of eitf 02-3 to its derivative portfolio . eitf 02-3 precluded the recogni- tion of initial trading profit in the absence of : ( a ) quoted market prices , ( b ) observable prices of other current market transactions or ( c ) other observable data supporting a valuation technique . in accor- dance with eitf 02-3 , the firm recognized the deferred profit in principal transactions revenue on a systematic basis ( typically straight- line amortization over the life of the instruments ) and when observ- able market data became available . prior to the adoption of sfas 157 the firm did not incorporate an adjustment into the valuation of liabilities carried at fair value on the consolidated balance sheet . commencing january 1 , 2007 , in accor- dance with the requirements of sfas 157 , an adjustment was made to the valuation of liabilities measured at fair value to reflect the credit quality of the firm . prior to the adoption of sfas 157 , privately held investments were initially valued based upon cost . the carrying values of privately held investments were adjusted from cost to reflect both positive and neg- ative changes evidenced by financing events with third-party capital providers . the investments were also subject to ongoing impairment reviews by private equity senior investment professionals . the increase in pretax income related to nonpublic private equity investments in connection with the adoption of sfas 157 was due to there being sufficient market evidence to support an increase in fair values using the sfas 157 methodology , although there had not been an actual third-party market transaction related to such investments . financial disclosures required by sfas 107 sfas 107 requires disclosure of the estimated fair value of certain financial instruments and the methods and significant assumptions used to estimate their fair values . many but not all of the financial instruments held by the firm are recorded at fair value on the consolidated balance sheets . financial instruments within the scope of sfas 107 that are not carried at fair value on the consolidated balance sheets are discussed below . additionally , certain financial instruments and all nonfinancial instruments are excluded from the scope of sfas 107 . accordingly , the fair value disclosures required by sfas 107 provide only a partial estimate of the fair value of jpmorgan chase . for example , the firm has developed long-term relationships with its customers through its deposit base and credit card accounts , commonly referred to as core deposit intangibles and credit card relationships . in the opinion of management , these items , in the aggregate , add significant value to jpmorgan chase , but their fair value is not disclosed in this note . financial instruments for which fair value approximates carrying value certain financial instruments that are not carried at fair value on the consolidated balance sheets are carried at amounts that approxi- mate fair value due to their short-term nature and generally negligi- ble credit risk . these instruments include cash and due from banks , deposits with banks , federal funds sold , securities purchased under resale agreements with short-dated maturities , securities borrowed , short-term receivables and accrued interest receivable , commercial paper , federal funds purchased , securities sold under repurchase agreements with short-dated maturities , other borrowed funds , accounts payable and accrued liabilities . in addition , sfas 107 requires that the fair value for deposit liabilities with no stated matu- rity ( i.e. , demand , savings and certain money market deposits ) be equal to their carrying value . sfas 107 does not allow for the recog- nition of the inherent funding value of these instruments. .
Question: for 2007 , what was the net income effect ( in millions ) of the sfas 157 transition adjustments?
Answer: | 630.0 |
FINQA4528 | 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: at december 31 , 2003 , what was the ratio of the company net federal operating loss carry forwards to the state
Answer: | 0.6 |
FINQA4529 | Please answer the given financial question based on the context.
Context: holding other assumptions constant , the following table reflects what a one hundred basis point increase and decrease in our estimated long-term rate of return on plan assets would have on our estimated 2011 pension expense ( in millions ) : change in long-term rate of return on plan assets .
|increase ( decrease ) in expense|change in long-term rateof return on plan assets increase|change in long-term rateof return on plan assets decrease|
|u.s . plans|$ -14 ( 14 )|$ 14|
|u.k . plans|-35 ( 35 )|35|
|the netherlands plan|-5 ( 5 )|5|
|canada plans|-2 ( 2 )|2|
estimated future contributions we estimate contributions of approximately $ 403 million in 2011 as compared with $ 288 million in goodwill and other intangible assets goodwill represents the excess of cost over the fair market value of the net assets acquired . we classify our intangible assets acquired as either trademarks , customer relationships , technology , non-compete agreements , or other purchased intangibles . our goodwill and other intangible balances at december 31 , 2010 increased to $ 8.6 billion and $ 3.6 billion , respectively , compared to $ 6.1 billion and $ 791 million , respectively , at december 31 , 2009 , primarily as a result of the hewitt acquisition . although goodwill is not amortized , we test it for impairment at least annually in the fourth quarter . in the fourth quarter , we also test acquired trademarks ( which also are not amortized ) for impairment . we test more frequently if there are indicators of impairment or whenever business circumstances suggest that the carrying value of goodwill or trademarks may not be recoverable . these indicators may include a sustained significant decline in our share price and market capitalization , a decline in our expected future cash flows , or a significant adverse change in legal factors or in the business climate , among others . no events occurred during 2010 or 2009 that indicate the existence of an impairment with respect to our reported goodwill or trademarks . we perform impairment reviews at the reporting unit level . a reporting unit is an operating segment or one level below an operating segment ( referred to as a 2018 2018component 2019 2019 ) . a component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component . an operating segment shall be deemed to be a reporting unit if all of its components are similar , if none of its components is a reporting unit , or if the segment comprises only a single component . the goodwill impairment test is a two step analysis . step one requires the fair value of each reporting unit to be compared to its book value . management must apply judgment in determining the estimated fair value of the reporting units . if the fair value of a reporting unit is determined to be greater than the carrying value of the reporting unit , goodwill and trademarks are deemed not to be impaired and no further testing is necessary . if the fair value of a reporting unit is less than the carrying value , we perform step two . step two uses the calculated fair value of the reporting unit to perform a hypothetical purchase price allocation to the fair value of the assets and liabilities of the reporting unit . the difference between the fair value of the reporting unit calculated in step one and the fair value of the underlying assets and liabilities of the reporting unit is the implied fair value of the reporting unit 2019s goodwill . a charge is recorded in the financial statements if the carrying value of the reporting unit 2019s goodwill is greater than its implied fair value. .
Question: what is the percentage change in goodwill from 2009 to 2010?
Answer: | 0.40984 |
FINQA4530 | Please answer the given financial question based on the context.
Context: note 17 . accumulated other comprehensive losses : pmi's accumulated other comprehensive losses , net of taxes , consisted of the following: .
|( losses ) earnings ( in millions )|( losses ) earnings 2017|( losses ) earnings 2016|2015|
|currency translation adjustments|$ -5761 ( 5761 )|$ -6091 ( 6091 )|$ -6129 ( 6129 )|
|pension and other benefits|-2816 ( 2816 )|-3565 ( 3565 )|-3332 ( 3332 )|
|derivatives accounted for as hedges|42|97|59|
|total accumulated other comprehensive losses|$ -8535 ( 8535 )|$ -9559 ( 9559 )|$ -9402 ( 9402 )|
reclassifications from other comprehensive earnings the movements in accumulated other comprehensive losses and the related tax impact , for each of the components above , that are due to current period activity and reclassifications to the income statement are shown on the consolidated statements of comprehensive earnings for the years ended december 31 , 2017 , 2016 , and 2015 . for the years ended december 31 , 2017 , 2016 , and 2015 , $ 2 million , $ ( 5 ) million and $ 1 million of net currency translation adjustment gains/ ( losses ) were transferred from other comprehensive earnings to marketing , administration and research costs in the consolidated statements of earnings , respectively , upon liquidation of subsidiaries . for additional information , see note 13 . benefit plans and note 15 . financial instruments for disclosures related to pmi's pension and other benefits and derivative financial instruments . note 18 . contingencies : tobacco-related litigation legal proceedings covering a wide range of matters are pending or threatened against us , and/or our subsidiaries , and/or our indemnitees in various jurisdictions . our indemnitees include distributors , licensees and others that have been named as parties in certain cases and that we have agreed to defend , as well as to pay costs and some or all of judgments , if any , that may be entered against them . pursuant to the terms of the distribution agreement between altria group , inc . ( "altria" ) and pmi , pmi will indemnify altria and philip morris usa inc . ( "pm usa" ) , a u.s . tobacco subsidiary of altria , for tobacco product claims based in substantial part on products manufactured by pmi or contract manufactured for pmi by pm usa , and pm usa will indemnify pmi for tobacco product claims based in substantial part on products manufactured by pm usa , excluding tobacco products contract manufactured for pmi . it is possible that there could be adverse developments in pending cases against us and our subsidiaries . an unfavorable outcome or settlement of pending tobacco-related litigation could encourage the commencement of additional litigation . damages claimed in some of the tobacco-related litigation are significant and , in certain cases in brazil , canada and nigeria , range into the billions of u.s . dollars . the variability in pleadings in multiple jurisdictions , together with the actual experience of management in litigating claims , demonstrate that the monetary relief that may be specified in a lawsuit bears little relevance to the ultimate outcome . much of the tobacco-related litigation is in its early stages , and litigation is subject to uncertainty . however , as discussed below , we have to date been largely successful in defending tobacco-related litigation . we and our subsidiaries record provisions in the consolidated financial statements for pending litigation when we determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated . at the present time , while it is reasonably possible that an unfavorable outcome in a case may occur , after assessing the information available to it ( i ) management has not concluded that it is probable that a loss has been incurred in any of the pending tobacco-related cases ; ( ii ) management is unable to estimate the possible loss or range of loss for any of the pending tobacco-related cases ; and ( iii ) accordingly , no estimated loss has been accrued in the consolidated financial statements for unfavorable outcomes in these cases , if any . legal defense costs are expensed as incurred. .
Question: what is the percentage change in currency translation adjustments from 2016 to 2017?
Answer: | -0.05418 |
FINQA4531 | Please answer the given financial question based on the context.
Context: on october 21 , 2004 , the hartford declared a dividend on its common stock of $ 0.29 per share payable on january 3 , 2005 to shareholders of record as of december 1 , 2004 . the hartford declared $ 331 and paid $ 325 in dividends to shareholders in 2004 , declared $ 300 and paid $ 291 in dividends to shareholders in 2003 , declared $ 262 and paid $ 257 in 2002 . aoci - aoci increased by $ 179 as of december 31 , 2004 compared with december 31 , 2003 . the increase in aoci is primarily the result of life 2019s adoption of sop 03-1 , which resulted in a $ 292 cumulative effect for unrealized gains on securities in the first quarter of 2004 related to the reclassification of investments from separate account assets to general account assets , partially offset by net unrealized losses on cash-flow hedging instruments . the funded status of the company 2019s pension and postretirement plans is dependent upon many factors , including returns on invested assets and the level of market interest rates . declines in the value of securities traded in equity markets coupled with declines in long- term interest rates have had a negative impact on the funded status of the plans . as a result , the company recorded a minimum pension liability as of december 31 , 2004 , and 2003 , which resulted in an after-tax reduction of stockholders 2019 equity of $ 480 and $ 375 respectively . this minimum pension liability did not affect the company 2019s results of operations . for additional information on stockholders 2019 equity and aoci see notes 15 and 16 , respectively , of notes to consolidated financial statements . cash flow 2004 2003 2002 .
|cash flow|2004|2003|2002|
|net cash provided by operating activities|$ 2634|$ 3896|$ 2577|
|net cash used for investing activities|$ -2401 ( 2401 )|$ -8387 ( 8387 )|$ -6600 ( 6600 )|
|net cash provided by financing activities|$ 477|$ 4608|$ 4037|
|cash 2014 end of year|$ 1148|$ 462|$ 377|
2004 compared to 2003 2014 cash from operating activities primarily reflects premium cash flows in excess of claim payments . the decrease in cash provided by operating activities was due primarily to the $ 1.15 billion settlement of the macarthur litigation in 2004 . cash provided by financing activities decreased primarily due to lower proceeds from investment and universal life-type contracts as a result of the adoption of sop 03-1 , decreased capital raising activities , repayment of commercial paper and early retirement of junior subordinated debentures in 2004 . the decrease in cash from financing activities and operating cash flows invested long-term accounted for the majority of the change in cash used for investing activities . 2003 compared to 2002 2014 the increase in cash provided by operating activities was primarily the result of strong premium cash flows . financing activities increased primarily due to capital raising activities related to the 2003 asbestos reserve addition and decreased due to repayments on long-term debt and lower proceeds from investment and universal life-type contracts . the increase in cash from financing activities accounted for the majority of the change in cash used for investing activities . operating cash flows in each of the last three years have been adequate to meet liquidity requirements . equity markets for a discussion of the potential impact of the equity markets on capital and liquidity , see the capital markets risk management section under 201cmarket risk 201d . ratings ratings are an important factor in establishing the competitive position in the insurance and financial services marketplace . there can be no assurance that the company's ratings will continue for any given period of time or that they will not be changed . in the event the company's ratings are downgraded , the level of revenues or the persistency of the company's business may be adversely impacted . on august 4 , 2004 , moody 2019s affirmed the company 2019s and hartford life , inc . 2019s a3 senior debt ratings as well as the aa3 insurance financial strength ratings of both its property-casualty and life insurance operating subsidiaries . in addition , moody 2019s changed the outlook for all of these ratings from negative to stable . since the announcement of the suit filed by the new york attorney general 2019s office against marsh & mclennan companies , inc. , and marsh , inc . on october 14 , 2004 , the major independent ratings agencies have indicated that they continue to monitor developments relating to the suit . on october 22 , 2004 , standard & poor 2019s revised its outlook on the u.s . property/casualty commercial lines sector to negative from stable . on november 23 , 2004 , standard & poor 2019s revised its outlook on the financial strength and credit ratings of the property-casualty insurance subsidiaries to negative from stable . the outlook on the life insurance subsidiaries and corporate debt was unaffected. .
Question: what is the net chance in cash in 2004?
Answer: | 686.0 |
FINQA4532 | 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 2010?
Answer: | 16.965 |
FINQA4533 | Please answer the given financial question based on the context.
Context: 2015 compared to 2014 when compared to 2014 , costs of revenue in 2015 increased $ 41 million . this increase included a constant currency increase in expenses of approximately $ 238 million , or 8.9% ( 8.9 % ) , partially offset by a positive impact of approximately $ 197 million from the effects of foreign currency fluctuations . the constant currency growth was comprised of a $ 71 million increase in commercial solutions , which included the impact from the encore acquisition which closed in july 2014 , a $ 146 million increase in research & development solutions , which included the incremental impact from the businesses that quest contributed to q2 solutions , and a $ 21 million increase in integrated engagement services . the decrease in costs of revenue as a percent of revenues for 2015 was primarily as a result of an improvement in constant currency profit margin in the commercial solutions , research & development solutions and integrated engagement services segments ( as more fully described in the segment discussion later in this section ) . for 2015 , this constant currency profit margin expansion was partially offset by the effect from a higher proportion of consolidated revenues being contributed by our lower margin integrated engagement services segment when compared to 2014 as well as a negative impact from foreign currency fluctuations . selling , general and administrative expenses , exclusive of depreciation and amortization .
|( dollars in millions )|year ended december 31 , 2016|year ended december 31 , 2015|year ended december 31 , 2014|
|selling general and administrative expenses|$ 1011|$ 815|$ 781|
|% ( % ) of revenues|18.8% ( 18.8 % )|18.8% ( 18.8 % )|18.8% ( 18.8 % )|
2016 compared to 2015 the $ 196 million increase in selling , general and administrative expenses in 2016 included a constant currency increase of $ 215 million , or 26.4% ( 26.4 % ) , partially offset by a positive impact of approximately $ 19 million from the effects of foreign currency fluctuations . the constant currency growth was comprised of a $ 151 million increase in commercial solutions , which includes $ 158 million from the merger with ims health , partially offset by a decline in the legacy service offerings , a $ 32 million increase in research & development solutions , which includes the incremental impact from the businesses that quest contributed to q2 solutions , a $ 3 million increase in integrated engagement services , and a $ 29 million increase in general corporate and unallocated expenses , which includes $ 37 million from the merger with ims health . the constant currency increase in general corporate and unallocated expenses in 2016 was primarily due to higher stock-based compensation expense . 2015 compared to 2014 the $ 34 million increase in selling , general and administrative expenses in 2015 included a constant currency increase of $ 74 million , or 9.5% ( 9.5 % ) , partially offset by a positive impact of approximately $ 42 million from the effects of foreign currency fluctuations . the constant currency growth was comprised of a $ 14 million increase in commercial solutions , which included the impact from the encore acquisition which closed in july 2014 , a $ 40 million increase in research & development solutions , which included the incremental impact from the businesses that quest contributed to q2 solutions , a $ 4 million increase in integrated engagement services , and a $ 14 million increase in general corporate and unallocated expenses . the constant currency increase in general corporate and unallocated expenses in 2015 was primarily due to higher stock-based compensation expense and costs associated with the q2 solutions transaction. .
Question: what is the percent increase in selling and administrative expenses from 2015 to 2016?
Answer: | 0.24049 |
FINQA4534 | Please answer the given financial question based on the context.
Context: entergy corporation and subsidiaries notes to financial statements ouachita in september 2008 , entergy arkansas purchased the ouachita plant , a 789 mw three-train gas-fired combined cycle generating turbine ( ccgt ) electric power plant located 20 miles south of the arkansas state line near sterlington , louisiana , for approximately $ 210 million from a subsidiary of cogentrix energy , inc . entergy arkansas received the plant , materials and supplies , and related real estate in the transaction . the ferc and the apsc approved the acquisition . the apsc also approved the recovery of the acquisition and ownership costs through a rate rider and the planned sale of one-third of the capacity and energy to entergy gulf states louisiana . the lpsc also approved the purchase of one-third of the capacity and energy by entergy gulf states louisiana , subject to certain conditions , including a study to determine the costs and benefits of entergy gulf states louisiana exercising an option to purchase one-third of the plant ( unit 3 ) from entergy arkansas . entergy gulf states louisiana is scheduled to report the results of that study by march 30 , 2009 . palisades in april 2007 , entergy's non-utility nuclear business purchased the 798 mw palisades nuclear energy plant located near south haven , michigan from consumers energy company for a net cash payment of $ 336 million . entergy received the plant , nuclear fuel , inventories , and other assets . the liability to decommission the plant , as well as related decommissioning trust funds , was also transferred to entergy's non-utility nuclear business . entergy's non-utility nuclear business executed a unit-contingent , 15-year purchased power agreement ( ppa ) with consumers energy for 100% ( 100 % ) of the plant's output , excluding any future uprates . prices under the ppa range from $ 43.50/mwh in 2007 to $ 61.50/mwh in 2022 , and the average price under the ppa is $ 51/mwh . in the first quarter 2007 , the nrc renewed palisades' operating license until 2031 . as part of the transaction , entergy's non- utility nuclear business assumed responsibility for spent fuel at the decommissioned big rock point nuclear plant , which is located near charlevoix , michigan . palisades' financial results since april 2007 are included in entergy's non-utility nuclear business segment . the following table summarizes the assets acquired and liabilities assumed at the date of acquisition . amount ( in millions ) .
||amount ( in millions )|
|plant ( including nuclear fuel )|$ 727|
|decommissioning trust funds|252|
|other assets|41|
|total assets acquired|1020|
|purchased power agreement ( below market )|420|
|decommissioning liability|220|
|other liabilities|44|
|total liabilities assumed|684|
|net assets acquired|$ 336|
subsequent to the closing , entergy received approximately $ 6 million from consumers energy company as part of the post-closing adjustment defined in the asset sale agreement . the post-closing adjustment amount resulted in an approximately $ 6 million reduction in plant and a corresponding reduction in other liabilities . for the ppa , which was at below-market prices at the time of the acquisition , non-utility nuclear will amortize a liability to revenue over the life of the agreement . the amount that will be amortized each period is based upon the difference between the present value calculated at the date of acquisition of each year's difference between revenue under the agreement and revenue based on estimated market prices . amounts amortized to revenue were $ 76 .
Question: what is the assumed debt to acquired asset ratio?
Answer: | 0.67059 |
FINQA4535 | Please answer the given financial question based on the context.
Context: from time to time , we may elect to use foreign currency forward contracts to reduce the risk from exchange rate fluctuations on intercompany transactions and projected inventory purchases for our european and canadian subsidiaries . in addition , we may elect to enter into foreign currency forward contracts to reduce the risk associated with foreign currency exchange rate fluctuations on pound sterling denominated balance sheet items . we do not enter into derivative financial instruments for speculative or trading purposes . based on the foreign currency forward contracts outstanding as of december 31 , 2011 , we receive u.s . dollars in exchange for canadian dollars at a weighted average contractual forward foreign currency exchange rate of 1.03 cad per $ 1.00 , u.s . dollars in exchange for euros at a weighted average contractual foreign currency exchange rate of 20ac0.77 per $ 1.00 and euros in exchange for pounds sterling at a weighted average contractual foreign currency exchange rate of a30.84 per 20ac1.00 . as of december 31 , 2011 , the notional value of our outstanding foreign currency forward contracts for our canadian subsidiary was $ 51.1 million with contract maturities of 1 month or less , and the notional value of our outstanding foreign currency forward contracts for our european subsidiary was $ 50.0 million with contract maturities of 1 month . as of december 31 , 2011 , the notional value of our outstanding foreign currency forward contract used to mitigate the foreign currency exchange rate fluctuations on pound sterling denominated balance sheet items was 20ac10.5 million , or $ 13.6 million , with a contract maturity of 1 month . the foreign currency forward contracts are not designated as cash flow hedges , and accordingly , changes in their fair value are recorded in other expense , net on the consolidated statements of income . the fair values of our foreign currency forward contracts were liabilities of $ 0.7 million and $ 0.6 million as of december 31 , 2011 and 2010 , respectively , and were included in accrued expenses on the consolidated balance sheet . refer to note 10 to the consolidated financial statements for a discussion of the fair value measurements . included in other expense , net were the following amounts related to changes in foreign currency exchange rates and derivative foreign currency forward contracts: .
|year ended december 31 , ( in thousands )|year ended december 31 , 2011|year ended december 31 , 2010|2009|
|unrealized foreign currency exchange rate gains ( losses )|$ -4027 ( 4027 )|$ -1280 ( 1280 )|$ 5222|
|realized foreign currency exchange rate gains ( losses )|298|-2638 ( 2638 )|-261 ( 261 )|
|unrealized derivative losses|-31 ( 31 )|-809 ( 809 )|-1060 ( 1060 )|
|realized derivative gains ( losses )|1696|3549|-4412 ( 4412 )|
we enter into foreign currency forward contracts with major financial institutions with investment grade credit ratings and are exposed to credit losses in the event of non-performance by these financial institutions . this credit risk is generally limited to the unrealized gains in the foreign currency forward contracts . however , we monitor the credit quality of these financial institutions and consider the risk of counterparty default to be minimal . although we have entered into foreign currency forward contracts to minimize some of the impact of foreign currency exchange rate fluctuations on future cash flows , we cannot be assured that foreign currency exchange rate fluctuations will not have a material adverse impact on our financial condition and results of operations . inflation inflationary factors such as increases in the cost of our product and overhead costs may adversely affect our operating results . although we do not believe that inflation has had a material impact on our financial position or results of operations to date , a high rate of inflation in the future may have an adverse effect on our ability to maintain current levels of gross margin and selling , general and administrative expenses as a percentage of net revenues if the selling prices of our products do not increase with these increased costs. .
Question: what was the percent of the increase in the fair values of our foreign currency forward contracts liability from 2010 to 2011
Answer: | 0.16667 |
FINQA4536 | Please answer the given financial question based on the context.
Context: o 2019 r e i l l y a u t o m o t i v e 2 0 0 6 a n n u a l r e p o r t p a g e 38 $ 11080000 , in the years ended december 31 , 2006 , 2005 and 2004 , respectively . the remaining unrecognized compensation cost related to unvested awards at december 31 , 2006 , was $ 7702000 and the weighted-average period of time over which this cost will be recognized is 3.3 years . employee stock purchase plan the company 2019s employee stock purchase plan permits all eligible employees to purchase shares of the company 2019s common stock at 85% ( 85 % ) of the fair market value . participants may authorize the company to withhold up to 5% ( 5 % ) of their annual salary to participate in the plan . the stock purchase plan authorizes up to 2600000 shares to be granted . during the year ended december 31 , 2006 , the company issued 165306 shares under the purchase plan at a weighted average price of $ 27.36 per share . during the year ended december 31 , 2005 , the company issued 161903 shares under the purchase plan at a weighted average price of $ 27.57 per share . during the year ended december 31 , 2004 , the company issued 187754 shares under the purchase plan at a weighted average price of $ 20.85 per share . sfas no . 123r requires compensation expense to be recognized based on the discount between the grant date fair value and the employee purchase price for shares sold to employees . during the year ended december 31 , 2006 , the company recorded $ 799000 of compensation cost related to employee share purchases and a corresponding income tax benefit of $ 295000 . at december 31 , 2006 , approximately 400000 shares were reserved for future issuance . other employee benefit plans the company sponsors a contributory profit sharing and savings plan that covers substantially all employees who are at least 21 years of age and have at least six months of service . the company has agreed to make matching contributions equal to 50% ( 50 % ) of the first 2% ( 2 % ) of each employee 2019s wages that are contributed and 25% ( 25 % ) of the next 4% ( 4 % ) of each employee 2019s wages that are contributed . the company also makes additional discretionary profit sharing contributions to the plan on an annual basis as determined by the board of directors . the company 2019s matching and profit sharing contributions under this plan are funded in the form of shares of the company 2019s common stock . a total of 4200000 shares of common stock have been authorized for issuance under this plan . during the year ended december 31 , 2006 , the company recorded $ 6429000 of compensation cost for contributions to this plan and a corresponding income tax benefit of $ 2372000 . during the year ended december 31 , 2005 , the company recorded $ 6606000 of compensation cost for contributions to this plan and a corresponding income tax benefit of $ 2444000 . during the year ended december 31 , 2004 , the company recorded $ 5278000 of compensation cost for contributions to this plan and a corresponding income tax benefit of $ 1969000 . the compensation cost recorded in 2006 includes matching contributions made in 2006 and profit sharing contributions accrued in 2006 to be funded with issuance of shares of common stock in 2007 . the company issued 204000 shares in 2006 to fund profit sharing and matching contributions at an average grant date fair value of $ 34.34 . the company issued 210461 shares in 2005 to fund profit sharing and matching contributions at an average grant date fair value of $ 25.79 . the company issued 238828 shares in 2004 to fund profit sharing and matching contributions at an average grant date fair value of $ 19.36 . a portion of these shares related to profit sharing contributions accrued in prior periods . at december 31 , 2006 , approximately 1061000 shares were reserved for future issuance under this plan . the company has in effect a performance incentive plan for the company 2019s senior management under which the company awards shares of restricted stock that vest equally over a three-year period and are held in escrow until such vesting has occurred . shares are forfeited when an employee ceases employment . a total of 800000 shares of common stock have been authorized for issuance under this plan . shares awarded under this plan are valued based on the market price of the company 2019s common stock on the date of grant and compensation cost is recorded over the vesting period . the company recorded $ 416000 of compensation cost for this plan for the year ended december 31 , 2006 and recognized a corresponding income tax benefit of $ 154000 . the company recorded $ 289000 of compensation cost for this plan for the year ended december 31 , 2005 and recognized a corresponding income tax benefit of $ 107000 . the company recorded $ 248000 of compensation cost for this plan for the year ended december 31 , 2004 and recognized a corresponding income tax benefit of $ 93000 . the total fair value of shares vested ( at vest date ) for the years ended december 31 , 2006 , 2005 and 2004 were $ 503000 , $ 524000 and $ 335000 , respectively . the remaining unrecognized compensation cost related to unvested awards at december 31 , 2006 was $ 536000 . the company awarded 18698 shares under this plan in 2006 with an average grant date fair value of $ 33.12 . the company awarded 14986 shares under this plan in 2005 with an average grant date fair value of $ 25.41 . the company awarded 15834 shares under this plan in 2004 with an average grant date fair value of $ 19.05 . compensation cost for shares awarded in 2006 will be recognized over the three-year vesting period . changes in the company 2019s restricted stock for the year ended december 31 , 2006 were as follows : weighted- average grant date shares fair value .
||shares|weighted-average grant date fair value|
|non-vested at december 31 2005|15052|$ 22.68|
|granted during the period|18698|33.12|
|vested during the period|-15685 ( 15685 )|26.49|
|forfeited during the period|-1774 ( 1774 )|27.94|
|non-vested at december 31 2006|16291|$ 30.80|
at december 31 , 2006 , approximately 659000 shares were reserved for future issuance under this plan . n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( cont inued ) .
Question: what was the total value of the shares awarded under this plan in 2006 based on grant date value?
Answer: | 619277.76 |
FINQA4537 | Please answer the given financial question based on the context.
Context: increased by $ 105.6 million , or 3.4% ( 3.4 % ) , from 2006 to 2007 . the following table reflects the components of our revenue growth for the years ended december 31 , 2008 , 2007 and 2006: .
||2008|2007|2006|
|core price|4.0% ( 4.0 % )|4.2% ( 4.2 % )|3.4% ( 3.4 % )|
|fuel surcharges|1.8|.2|1.1|
|environmental fees|.4|.2|.4|
|recycling commodities|.1|.9|-.1 ( .1 )|
|total price|6.3|5.5|4.8|
|core volume ( 1 )|-3.9 ( 3.9 )|-1.5 ( 1.5 )|2.4|
|non-core volume|.1|-.1 ( .1 )|2014|
|total volume|-3.8 ( 3.8 )|-1.6 ( 1.6 )|2.4|
|total internal growth|2.5|3.9|7.2|
|acquisitions net of divestitures ( 2 )|13.4|-.5 ( .5 )|-.1 ( .1 )|
|taxes ( 3 )|.1|2014|.1|
|total revenue growth|16.0% ( 16.0 % )|3.4% ( 3.4 % )|7.2% ( 7.2 % )|
( 1 ) core volume growth for the year ended december 31 , 2006 includes .8% ( .8 % ) associated with hauling waste from the city of toronto to one of our landfills in michigan . this hauling service is provided to the city at a rate that approximates our cost . ( 2 ) includes the impact of the acquisition of allied in december 2008 . ( 3 ) represents new taxes levied on landfill volumes in certain states that are passed on to customers . 25aa 2008 : during the year ended december 31 , 2008 , our core revenue growth continued to benefit from a broad-based pricing initiative . in addition , 14.7% ( 14.7 % ) of our revenue growth is due to our acquisition of allied in december 2008 . revenue growth also benefited from higher fuel surcharges and environmental fees . however , during 2008 we experienced lower prices for commodities . we also experienced a decrease in core volumes primarily due to lower commercial and industrial collection volumes and lower landfill volumes resulting from the slowdown in the economy . we expect to continue to experience lower volumes until economic conditions improve . 25aa 2007 : during the year ended december 31 , 2007 , our revenue growth from core pricing continued to benefit from a broad-based pricing initiative . our revenue growth also benefited from higher prices for commodities . however , we experienced a decrease in core volume growth primarily due to lower industrial collection and landfill volumes resulting from the slowdown in residential construction . 25aa 2006 : during the year ended december 31 , 2006 , our revenue growth continued to benefit from our broad-based pricing initiative . we experienced core volume growth in our collection and landfill lines of business . this core volume growth was partially offset by hurricane clean-up efforts that took place during the fourth quarter of 2005 . 25aa 2009 outlook : we anticipate internal revenue from core operations to decrease approximately 4.0% ( 4.0 % ) during 2009 . this decrease is the expected net of growth in core pricing of approximately 4.0% ( 4.0 % ) and an expected decrease in volume of approximately 8.0% ( 8.0 % ) . our projections assume no deterioration or improvement in the overall economy from that experienced during the fourth quarter of 2008 . however , our internal growth may remain flat or may decline in 2009 depending on economic conditions and our success in implementing pricing initiatives . cost of operations . cost of operations was $ 2.4 billion , $ 2.0 billion and $ 1.9 billion , or , as a percentage of revenue , 65.6% ( 65.6 % ) , 63.1% ( 63.1 % ) and 62.7% ( 62.7 % ) , for the years ended december 31 , 2008 , 2007 and 2006 , respectively . the increase in cost of operations in aggregate dollars for the year ended december 31 , 2008 versus the comparable 2007 period is primarily a result of our acquisition of allied in december 2008 . the remaining increase in cost of operations in aggregate dollars and the increase as a percentage of revenue is primarily due to charges we recorded during 2008 of $ 98.0 million related to estimated costs to comply with f&os issued by the oepa and the aoc issued by the epa in response to environmental conditions at our countywide facility in ohio , $ 21.9 million related to environmental conditions at our closed disposal facility %%transmsg*** transmitting job : p14076 pcn : 048000000 ***%%pcmsg|46 |00044|yes|no|02/28/2009 17:08|0|0|page is valid , no graphics -- color : d| .
Question: what was the average cost of operations from 2006 to 2008 in millions
Answer: | 2.1 |
FINQA4538 | Please answer the given financial question based on the context.
Context: item 12 . security ownership of certain beneficial owners and management and related stockholder matters . the information required by item 12 is included under the heading 201csecurity ownership of management and certain beneficial owners 201d in the 2017 proxy statement , and that information is incorporated by reference in this form 10-k . equity compensation plan information the following table provides information about our equity compensation plans that authorize the issuance of shares of lockheed martin common stock to employees and directors . the information is provided as of december 31 , 2016 . plan category number of securities to be issued exercise of outstanding options , warrants and rights weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) 5802673 $ 85.82 6216471 equity compensation plans not approved by security holders ( 2 ) 1082347 2014 2481032 .
|plan category|number of securities to beissued upon exercise of outstanding options warrants and rights ( a )|weighted-average exercise price of outstanding options warrants and rights ( b )|number of securities remaining availablefor future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )|
|equity compensation plans approved by securityholders ( 1 )|5802673|$ 85.82|6216471|
|equity compensation plans not approved bysecurity holders ( 2 )|1082347|2014|2481032|
|total|6885020|$ 85.82|8697503|
( 1 ) column ( a ) includes , as of december 31 , 2016 : 1747151 shares that have been granted as restricted stock units ( rsus ) , 936308 shares that could be earned pursuant to grants of performance stock units ( psus ) ( assuming the maximum number of psus are earned and payable at the end of the three-year performance period ) and 2967046 shares granted as options under the lockheed martin corporation 2011 incentive performance award plan ( 2011 ipa plan ) or predecessor plans prior to january 1 , 2013 and 23346 shares granted as options and 128822 stock units payable in stock or cash under the lockheed martin corporation 2009 directors equity plan ( directors equity plan ) or predecessor plans for members ( or former members ) of the board of directors . column ( c ) includes , as of december 31 , 2016 , 5751655 shares available for future issuance under the 2011 ipa plan as options , stock appreciation rights ( sars ) , restricted stock awards ( rsas ) , rsus or psus and 464816 shares available for future issuance under the directors equity plan as stock options and stock units . of the 5751655 shares available for grant under the 2011 ipa plan on december 31 , 2016 , 516653 and 236654 shares are issuable pursuant to grants made on january 26 , 2017 , of rsus and psus ( assuming the maximum number of psus are earned and payable at the end of the three-year performance period ) , respectively . the weighted average price does not take into account shares issued pursuant to rsus or psus . ( 2 ) the shares represent annual incentive bonuses and long-term incentive performance ( ltip ) payments earned and voluntarily deferred by employees . the deferred amounts are payable under the deferred management incentive compensation plan ( dmicp ) . deferred amounts are credited as phantom stock units at the closing price of our stock on the date the deferral is effective . amounts equal to our dividend are credited as stock units at the time we pay a dividend . following termination of employment , a number of shares of stock equal to the number of stock units credited to the employee 2019s dmicp account are distributed to the employee . there is no discount or value transfer on the stock distributed . distributions may be made from newly issued shares or shares purchased on the open market . historically , all distributions have come from shares held in a separate trust and , therefore , do not further dilute our common shares outstanding . as a result , these shares also were not considered in calculating the total weighted average exercise price in the table . because the dmicp shares are outstanding , they should be included in the denominator ( and not the numerator ) of a dilution calculation . item 13 . certain relationships and related transactions and director independence . the information required by this item 13 is included under the captions 201ccorporate governance 2013 related person transaction policy , 201d 201ccorporate governance 2013 certain relationships and related person transactions of directors , executive officers , and 5 percent stockholders , 201d and 201ccorporate governance 2013 director independence 201d in the 2017 proxy statement , and that information is incorporated by reference in this form 10-k . item 14 . principal accountant fees and services . the information required by this item 14 is included under the caption 201cproposal 2 2013 ratification of appointment of independent auditors 201d in the 2017 proxy statement , and that information is incorporated by reference in this form 10-k. .
Question: what portion of the total number of issues securities is approved by the security holders?
Answer: | 0.8428 |
FINQA4539 | Please answer the given financial question based on the context.
Context: 35% ( 35 % ) due primarily to certain undistributed foreign earnings for which no u.s . taxes are provided because such earnings are intended to be indefinitely reinvested outside the u.s . as of september 24 , 2011 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 3.2 billion , and deferred tax liabilities of $ 9.2 billion . management believes it is more likely than not that forecasted income , including income that may be generated as a result of certain tax planning strategies , together with future reversals of existing taxable temporary differences , will be sufficient to fully recover the deferred tax assets . the company will continue to evaluate the realizability of deferred tax assets quarterly by assessing the need for and amount of a valuation allowance . the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments . the company has contested certain of these adjustments through the irs appeals office . the irs is currently examining the years 2007 through 2009 . all irs audit issues for years prior to 2004 have been resolved . in addition , the company is subject to audits by state , local , and foreign tax authorities . management believes that adequate provisions have been made for any adjustments that may result from tax examinations . however , the outcome of tax audits cannot be predicted with certainty . if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income taxes in the period such resolution occurs . liquidity and capital resources the following table presents selected financial information and statistics as of and for the three years ended september 24 , 2011 ( in millions ) : .
||2011|2010|2009|
|cash cash equivalents and marketable securities|$ 81570|$ 51011|$ 33992|
|accounts receivable net|$ 5369|$ 5510|$ 3361|
|inventories|$ 776|$ 1051|$ 455|
|working capital|$ 17018|$ 20956|$ 20049|
|annual operating cash flow|$ 37529|$ 18595|$ 10159|
cash , cash equivalents and marketable securities increased $ 30.6 billion or 60% ( 60 % ) during 2011 . the principal components of this net increase was the cash generated by operating activities of $ 37.5 billion , which was partially offset by payments for acquisition of property , plant and equipment of $ 4.3 billion , payments for acquisition of intangible assets of $ 3.2 billion and payments made in connection with business acquisitions , net of cash acquired , of $ 244 million . the company believes its existing balances of cash , cash equivalents and marketable securities will be sufficient to satisfy its working capital needs , capital asset purchases , outstanding commitments and other liquidity requirements associated with its existing operations over the next 12 months . the company 2019s marketable securities investment portfolio is invested primarily in highly rated securities and its policy generally limits the amount of credit exposure to any one issuer . the company 2019s investment policy requires investments to generally be investment grade with the objective of minimizing the potential risk of principal loss . as of september 24 , 2011 and september 25 , 2010 , $ 54.3 billion and $ 30.8 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s . dollar-denominated holdings . amounts held by foreign subsidiaries are generally subject to u.s . income taxation on repatriation to the u.s . capital assets the company 2019s capital expenditures were $ 4.6 billion during 2011 , consisting of approximately $ 614 million for retail store facilities and $ 4.0 billion for other capital expenditures , including product tooling and manufacturing .
Question: what is the percentage change in annual operating cash flow from 2009 to 2010?
Answer: | 0.8304 |
FINQA4540 | Please answer the given financial question based on the context.
Context: supplementary information on oil and gas producing activities ( unaudited ) c o n t i n u e d summary of changes in standardized measure of discounted future net cash flows relating to proved oil and gas reserves ( in millions ) 2006 2005 2004 sales and transfers of oil and gas produced , net of production , transportation and administrative costs $ ( 5312 ) $ ( 3754 ) $ ( 2689 ) net changes in prices and production , transportation and administrative costs related to future production ( 1342 ) 6648 771 .
|( in millions )|2006|2005|2004|
|sales and transfers of oil and gas produced net of production transportation and administrative costs|$ -5312 ( 5312 )|$ -3754 ( 3754 )|$ -2689 ( 2689 )|
|net changes in prices and production transportation and administrative costs related to future production|-1342 ( 1342 )|6648|771|
|extensions discoveries and improved recovery less related costs|1290|700|1349|
|development costs incurred during the period|1251|1030|609|
|changes in estimated future development costs|-527 ( 527 )|-552 ( 552 )|-628 ( 628 )|
|revisions of previous quantity estimates|1319|820|948|
|net changes in purchases and sales of minerals in place|30|4557|33|
|accretion of discount|1882|1124|757|
|net change in income taxes|-660 ( 660 )|-6694 ( 6694 )|-627 ( 627 )|
|timing and other|-14 ( 14 )|307|97|
|net change for the year|-2083 ( 2083 )|4186|620|
|beginning of year|10601|6415|5795|
|end of year|$ 8518|$ 10601|$ 6415|
|net change for the year from discontinued operations|$ -216 ( 216 )|$ 162|$ -152 ( 152 )|
.
Question: what was the average upward revisions of cash flow of previous quantity estimates during the three year period , in millions?
Answer: | 1029.0 |
FINQA4541 | Please answer the given financial question based on the context.
Context: discount rate 2014the assumed discount rate is used to determine the current retirement related benefit plan expense and obligations , and represents the interest rate that is used to determine the present value of future cash flows currently expected to be required to effectively settle a plan 2019s benefit obligations . the discount rate assumption is determined for each plan by constructing a portfolio of high quality bonds with cash flows that match the estimated outflows for future benefit payments to determine a single equivalent discount rate . benefit payments are not only contingent on the terms of a plan , but also on the underlying participant demographics , including current age , and assumed mortality . we use only bonds that are denominated in u.s . dollars , rated aa or better by two of three nationally recognized statistical rating agencies , have a minimum outstanding issue of $ 50 million as of the measurement date , and are not callable , convertible , or index linked . since bond yields are generally unavailable beyond 30 years , we assume those rates will remain constant beyond that point . taking into consideration the factors noted above , our weighted average discount rate for pensions was 5.23% ( 5.23 % ) and 5.84% ( 5.84 % ) , as of december 31 , 2011 and 2010 , respectively . our weighted average discount rate for other postretirement benefits was 4.94% ( 4.94 % ) and 5.58% ( 5.58 % ) as of december 31 , 2011 and 2010 , respectively . expected long-term rate of return 2014the expected long-term rate of return on assets is used to calculate net periodic expense , and is based on such factors as historical returns , targeted asset allocations , investment policy , duration , expected future long-term performance of individual asset classes , inflation trends , portfolio volatility , and risk management strategies . while studies are helpful in understanding current trends and performance , the assumption is based more on longer term and prospective views . in order to reflect expected lower future market returns , we have reduced the expected long-term rate of return assumption from 8.50% ( 8.50 % ) , used to record 2011 expense , to 8.00% ( 8.00 % ) for 2012 . the decrease in the expected return on assets assumption is primarily related to lower bond yields and updated return assumptions for equities . unless plan assets and benefit obligations are subject to remeasurement during the year , the expected return on pension assets is based on the fair value of plan assets at the beginning of the year . an increase or decrease of 25 basis points in the discount rate and the expected long-term rate of return assumptions would have had the following approximate impacts on pensions : ( $ in millions ) increase ( decrease ) in 2012 expense increase ( decrease ) in december 31 , 2011 obligations .
|( $ in millions )|increase ( decrease ) in 2012 expense|increase ( decrease ) in december 31 2011 obligations|
|25 basis point decrease in discount rate|$ 18|$ 146|
|25 basis point increase in discount rate|-17 ( 17 )|-154 ( 154 )|
|25 basis point decrease in expected return on assets|8|n.a .|
|25 basis point increase in expected return on assets|-8 ( 8 )|n.a .|
differences arising from actual experience or changes in assumptions might materially affect retirement related benefit plan obligations and the funded status . actuarial gains and losses arising from differences from actual experience or changes in assumptions are deferred in accumulated other comprehensive income . this unrecognized amount is amortized to the extent it exceeds 10% ( 10 % ) of the greater of the plan 2019s benefit obligation or plan assets . the amortization period for actuarial gains and losses is the estimated average remaining service life of the plan participants , which is approximately 10 years . cas expense 2014in addition to providing the methodology for calculating retirement related benefit plan costs , cas also prescribes the method for assigning those costs to specific periods . while the ultimate liability for such costs under fas and cas is similar , the pattern of cost recognition is different . the key drivers of cas pension expense include the funded status and the method used to calculate cas reimbursement for each of our plans as well as our expected long-term rate of return on assets assumption . unlike fas , cas requires the discount rate to be consistent with the expected long-term rate of return on assets assumption , which changes infrequently given its long-term nature . as a result , changes in bond or other interest rates generally do not impact cas . in addition , unlike under fas , we can only allocate pension costs for a plan under cas until such plan is fully funded as determined under erisa requirements . other fas and cas considerations 2014we update our estimates of future fas and cas costs at least annually based on factors such as calendar year actual plan asset returns , final census data from the end of the prior year , and other actual and projected experience . a key driver of the difference between fas and cas expense ( and consequently , the fas/cas adjustment ) is the pattern of earnings and expense recognition for gains and losses that arise when our asset and liability experiences differ from our assumptions under each set of requirements . under fas , our net gains and losses exceeding the 10% ( 10 % ) corridor are amortized .
Question: what was the ratio of the 25 basis point decrease in discount rate to the expected return on assets expense in 2012
Answer: | 2.25 |
FINQA4542 | Please answer the given financial question based on the context.
Context: discount rate 2014the assumed discount rate is used to determine the current retirement related benefit plan expense and obligations , and represents the interest rate that is used to determine the present value of future cash flows currently expected to be required to effectively settle a plan 2019s benefit obligations . the discount rate assumption is determined for each plan by constructing a portfolio of high quality bonds with cash flows that match the estimated outflows for future benefit payments to determine a single equivalent discount rate . benefit payments are not only contingent on the terms of a plan , but also on the underlying participant demographics , including current age , and assumed mortality . we use only bonds that are denominated in u.s . dollars , rated aa or better by two of three nationally recognized statistical rating agencies , have a minimum outstanding issue of $ 50 million as of the measurement date , and are not callable , convertible , or index linked . since bond yields are generally unavailable beyond 30 years , we assume those rates will remain constant beyond that point . taking into consideration the factors noted above , our weighted average discount rate for pensions was 5.23% ( 5.23 % ) and 5.84% ( 5.84 % ) , as of december 31 , 2011 and 2010 , respectively . our weighted average discount rate for other postretirement benefits was 4.94% ( 4.94 % ) and 5.58% ( 5.58 % ) as of december 31 , 2011 and 2010 , respectively . expected long-term rate of return 2014the expected long-term rate of return on assets is used to calculate net periodic expense , and is based on such factors as historical returns , targeted asset allocations , investment policy , duration , expected future long-term performance of individual asset classes , inflation trends , portfolio volatility , and risk management strategies . while studies are helpful in understanding current trends and performance , the assumption is based more on longer term and prospective views . in order to reflect expected lower future market returns , we have reduced the expected long-term rate of return assumption from 8.50% ( 8.50 % ) , used to record 2011 expense , to 8.00% ( 8.00 % ) for 2012 . the decrease in the expected return on assets assumption is primarily related to lower bond yields and updated return assumptions for equities . unless plan assets and benefit obligations are subject to remeasurement during the year , the expected return on pension assets is based on the fair value of plan assets at the beginning of the year . an increase or decrease of 25 basis points in the discount rate and the expected long-term rate of return assumptions would have had the following approximate impacts on pensions : ( $ in millions ) increase ( decrease ) in 2012 expense increase ( decrease ) in december 31 , 2011 obligations .
|( $ in millions )|increase ( decrease ) in 2012 expense|increase ( decrease ) in december 31 2011 obligations|
|25 basis point decrease in discount rate|$ 18|$ 146|
|25 basis point increase in discount rate|-17 ( 17 )|-154 ( 154 )|
|25 basis point decrease in expected return on assets|8|n.a .|
|25 basis point increase in expected return on assets|-8 ( 8 )|n.a .|
differences arising from actual experience or changes in assumptions might materially affect retirement related benefit plan obligations and the funded status . actuarial gains and losses arising from differences from actual experience or changes in assumptions are deferred in accumulated other comprehensive income . this unrecognized amount is amortized to the extent it exceeds 10% ( 10 % ) of the greater of the plan 2019s benefit obligation or plan assets . the amortization period for actuarial gains and losses is the estimated average remaining service life of the plan participants , which is approximately 10 years . cas expense 2014in addition to providing the methodology for calculating retirement related benefit plan costs , cas also prescribes the method for assigning those costs to specific periods . while the ultimate liability for such costs under fas and cas is similar , the pattern of cost recognition is different . the key drivers of cas pension expense include the funded status and the method used to calculate cas reimbursement for each of our plans as well as our expected long-term rate of return on assets assumption . unlike fas , cas requires the discount rate to be consistent with the expected long-term rate of return on assets assumption , which changes infrequently given its long-term nature . as a result , changes in bond or other interest rates generally do not impact cas . in addition , unlike under fas , we can only allocate pension costs for a plan under cas until such plan is fully funded as determined under erisa requirements . other fas and cas considerations 2014we update our estimates of future fas and cas costs at least annually based on factors such as calendar year actual plan asset returns , final census data from the end of the prior year , and other actual and projected experience . a key driver of the difference between fas and cas expense ( and consequently , the fas/cas adjustment ) is the pattern of earnings and expense recognition for gains and losses that arise when our asset and liability experiences differ from our assumptions under each set of requirements . under fas , our net gains and losses exceeding the 10% ( 10 % ) corridor are amortized .
Question: what was the net change in the 25 basis point decrease and increase in discount rate in 2012 in millions
Answer: | 1.0 |
FINQA4543 | Please answer the given financial question based on the context.
Context: gain or loss on ownership change in map results from contributions to map of certain environmental capital expenditures and leased property acquisitions funded by marathon and ashland . in accordance with map 2019s limited liability company agreement , in certain instances , environmental capital expenditures and acquisitions of leased properties are funded by the original contributor of the assets , but no change in ownership interest may result from these contributions . an excess of ashland funded improvements over marathon funded improvements results in a net gain and an excess of marathon funded improvements over ashland funded improvements results in a net loss . cost of revenues increased by $ 5.822 billion in 2004 from 2003 and by $ 6.040 billion in 2003 from 2002 . the increases are primarily in the rm&t segment and result from higher acquisition costs for crude oil , refined products , refinery charge and blend feedstocks and increased manufacturing expenses . selling , general and administrative expenses increased by $ 105 million in 2004 from 2003 and by $ 97 million in 2003 from 2002 . the increase in 2004 was primarily due to increased stock-based compensation and higher costs associated with business transformation and outsourcing . our 2004 results were also impacted by start-up costs associated with the lng project in equatorial guinea and the increased cost of complying with governmental regulations . the increase in 2003 was primarily due to increased employee benefit expenses ( caused by increased pension expense resulting from changes in actuarial assumptions and a decrease in realized returns on plan assets ) and other employee related costs . additionally , during 2003 , we recorded a charge of $ 24 million related to organizational and business process changes . inventory market valuation reserve ( 2018 2018imv 2019 2019 ) is established to reduce the cost basis of inventories to current market value . generally , we will establish an imv reserve when crude oil prices fall below $ 22 per barrel . the 2002 results of operations include credits to income from operations of $ 71 million , reversing the imv reserve at december 31 , 2001 . net interest and other financial costs decreased by $ 25 million in 2004 from 2003 and by $ 82 million in 2003 from 2002 . the decrease in 2004 is primarily due to an increase in interest income . the decrease in 2003 is primarily due to an increase in capitalized interest related to increased long-term construction projects , the favorable effect of interest rate swaps , the favorable effect of a reduction in interest on tax deficiencies and increased interest income on investments . additionally , included in net interest and other financing costs are foreign currency gains of $ 9 million , $ 13 million and $ 8 million for 2004 , 2003 and 2002 . loss from early extinguishment of debt in 2002 was attributable to the retirement of $ 337 million aggregate principal amount of debt , resulting in a loss of $ 53 million . minority interest in income of map , which represents ashland 2019s 38 percent ownership interest , increased by $ 230 million in 2004 from 2003 and by $ 129 million in 2003 from 2002 . map income was higher in 2004 compared to 2003 and in 2003 compared to 2002 as discussed below in the rm&t segment . minority interest in loss of equatorial guinea lng holdings limited , which represents gepetrol 2019s 25 percent ownership interest , was $ 7 million in 2004 , primarily resulting from gepetrol 2019s share of start-up costs associated with the lng project in equatorial guinea . provision for income taxes increased by $ 143 million in 2004 from 2003 and by $ 215 million in 2003 from 2002 , primarily due to $ 388 million and $ 720 million increases in income before income taxes . the effective tax rate for 2004 was 36.6 percent compared to 36.6 percent and 42.1 percent for 2003 and 2002 . the higher rate in 2002 was due to the united kingdom enactment of a supplementary 10 percent tax on profits from the north sea oil and gas production , retroactively effective to april 17 , 2002 . in 2002 , we recognized a one-time noncash deferred tax adjustment of $ 61 million as a result of the rate increase . the following is an analysis of the effective tax rate for the periods presented: .
||2004|2003|2002|
|statutory tax rate|35.0% ( 35.0 % )|35.0% ( 35.0 % )|35.0% ( 35.0 % )|
|effects of foreign operations ( a )|1.3|-0.4 ( 0.4 )|5.6|
|state and local income taxes after federal income tax effects|1.6|2.2|3.9|
|other federal tax effects|-1.3 ( 1.3 )|-0.2 ( 0.2 )|-2.4 ( 2.4 )|
|effective tax rate|36.6% ( 36.6 % )|36.6% ( 36.6 % )|42.1% ( 42.1 % )|
( a ) the deferred tax effect related to the enactment of a supplemental tax in the u.k . increased the effective tax rate 7.0 percent in .
Question: for the three year period , what were average state and local income taxes after federal income tax effects , in millions?
Answer: | 2.56667 |
FINQA4544 | Please answer the given financial question based on the context.
Context: cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased . accounts receivable and allowance for doubtful accounts accounts receivable are carried at the invoiced amounts , less an allowance for doubtful accounts , and generally do not bear interest . the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates . the company 2019s estimates include separately providing for customer receivables based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible . account balances are charged off against the allowance when it is determined the receivable will not be recovered . the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 14 million , $ 15 million and $ 14 million as of december 31 , 2016 , 2015 , and 2014 , respectively . returns and credit activity is recorded directly to sales as a reduction . the following table summarizes the activity in the allowance for doubtful accounts: .
|( millions )|2016|2015|2014|
|beginning balance|$ 75|$ 77|$ 81|
|bad debt expense|20|26|23|
|write-offs|-25 ( 25 )|-22 ( 22 )|-20 ( 20 )|
|other ( a )|-2 ( 2 )|-6 ( 6 )|-7 ( 7 )|
|ending balance|$ 68|$ 75|$ 77|
( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits . inventory valuations inventories are valued at the lower of cost or market . certain u.s . inventory costs are determined on a last-in , first-out ( 201clifo 201d ) basis . lifo inventories represented 40% ( 40 % ) and 39% ( 39 % ) of consolidated inventories as of december 31 , 2016 and 2015 , respectively . lifo inventories include certain legacy nalco u.s . inventory acquired at fair value as part of the nalco merger . all other inventory costs are determined using either the average cost or first-in , first-out ( 201cfifo 201d ) methods . inventory values at fifo , as shown in note 5 , approximate replacement cost . during 2015 , the company improved and standardized estimates related to its inventory reserves and product costing , resulting in a net pre-tax charge of approximately $ 6 million . separately , the actions resulted in a charge of $ 20.6 million related to inventory reserve calculations , partially offset by a gain of $ 14.5 million related to the capitalization of certain cost components into inventory . during 2016 , the company took additional actions to improve and standardize estimates related to the capitalization of certain cost components into inventory , which resulted in a gain of $ 6.2 million . these items are reflected within special ( gains ) and charges , as discussed in note 3 . property , plant and equipment property , plant and equipment assets are stated at cost . merchandising and customer equipment consists principally of various dispensing systems for the company 2019s cleaning and sanitizing products , dishwashing machines and process control and monitoring equipment . certain dispensing systems capitalized by the company are accounted for on a mass asset basis , whereby equipment is capitalized and depreciated as a group and written off when fully depreciated . the company capitalizes both internal and external costs of development or purchase of computer software for internal use . costs incurred for data conversion , training and maintenance associated with capitalized software are expensed as incurred . expenditures for major renewals and improvements , which significantly extend the useful lives of existing plant and equipment , are capitalized and depreciated . expenditures for repairs and maintenance are charged to expense as incurred . upon retirement or disposition of plant and equipment , the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in income . depreciation is charged to operations using the straight-line method over the assets 2019 estimated useful lives ranging from 5 to 40 years for buildings and leasehold improvements , 3 to 20 years for machinery and equipment , 3 to 15 years for merchandising and customer equipment and 3 to 7 years for capitalized software . the straight-line method of depreciation reflects an appropriate allocation of the cost of the assets to earnings in proportion to the amount of economic benefits obtained by the company in each reporting period . depreciation expense was $ 561 million , $ 560 million and $ 558 million for 2016 , 2015 and 2014 , respectively. .
Question: what is the net change in the balance of allowance for doubtful accounts during 2015?
Answer: | -2.0 |
FINQA4545 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries notes to consolidated financial statements long-term debt instruments the aggregate contractual principal amount of long-term other secured financings for which the fair value option was elected exceeded the related fair value by $ 361 million and $ 362 million as of december 2016 and december 2015 , respectively . the aggregate contractual principal amount of unsecured long-term borrowings for which the fair value option was elected exceeded the related fair value by $ 1.56 billion and $ 1.12 billion as of december 2016 and december 2015 , respectively . the amounts above include both principal- and non-principal-protected long-term borrowings . impact of credit spreads on loans and lending commitments the estimated net gain attributable to changes in instrument-specific credit spreads on loans and lending commitments for which the fair value option was elected was $ 281 million for 2016 , $ 751 million for 2015 and $ 1.83 billion for 2014 , respectively . the firm generally calculates the fair value of loans and lending commitments for which the fair value option is elected by discounting future cash flows at a rate which incorporates the instrument-specific credit spreads . for floating-rate loans and lending commitments , substantially all changes in fair value are attributable to changes in instrument-specific credit spreads , whereas for fixed-rate loans and lending commitments , changes in fair value are also attributable to changes in interest rates . debt valuation adjustment the firm calculates the fair value of financial liabilities for which the fair value option is elected by discounting future cash flows at a rate which incorporates the firm 2019s credit spreads . the net dva on such financial liabilities was a loss of $ 844 million ( $ 544 million , net of tax ) for 2016 and was included in 201cdebt valuation adjustment 201d in the consolidated statements of comprehensive income . the gains/ ( losses ) reclassified to earnings from accumulated other comprehensive loss upon extinguishment of such financial liabilities were not material for 2016 . note 9 . loans receivable loans receivable is comprised of loans held for investment that are accounted for at amortized cost net of allowance for loan losses . interest on loans receivable is recognized over the life of the loan and is recorded on an accrual basis . the table below presents details about loans receivable. .
|$ in millions|as of december 2016|as of december 2015|
|corporate loans|$ 24837|$ 20740|
|loans to private wealth management clients|13828|13961|
|loans backed by commercial real estate|4761|5271|
|loans backed by residential real estate|3865|2316|
|other loans|2890|3533|
|total loans receivable gross|50181|45821|
|allowance for loan losses|-509 ( 509 )|-414 ( 414 )|
|total loans receivable|$ 49672|$ 45407|
as of december 2016 and december 2015 , the fair value of loans receivable was $ 49.80 billion and $ 45.19 billion , respectively . as of december 2016 , had these loans been carried at fair value and included in the fair value hierarchy , $ 28.40 billion and $ 21.40 billion would have been classified in level 2 and level 3 , respectively . as of december 2015 , had these loans been carried at fair value and included in the fair value hierarchy , $ 23.91 billion and $ 21.28 billion would have been classified in level 2 and level 3 , respectively . the firm also extends lending commitments that are held for investment and accounted for on an accrual basis . as of december 2016 and december 2015 , such lending commitments were $ 98.05 billion and $ 93.92 billion , respectively . substantially all of these commitments were extended to corporate borrowers and were primarily related to the firm 2019s relationship lending activities . the carrying value and the estimated fair value of such lending commitments were liabilities of $ 327 million and $ 2.55 billion , respectively , as of december 2016 , and $ 291 million and $ 3.32 billion , respectively , as of december 2015 . as of december 2016 , had these lending commitments been carried at fair value and included in the fair value hierarchy , $ 1.10 billion and $ 1.45 billion would have been classified in level 2 and level 3 , respectively . as of december 2015 , had these lending commitments been carried at fair value and included in the fair value hierarchy , $ 1.35 billion and $ 1.97 billion would have been classified in level 2 and level 3 , respectively . goldman sachs 2016 form 10-k 147 .
Question: for december 2016 and december 2015 , what was total fair value of loans receivable in billions?
Answer: | 94.99 |
FINQA4546 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis institutional client services our institutional client services segment is comprised of : fixed income , currency and commodities client execution . includes client execution activities related to making markets in interest rate products , credit products , mortgages , currencies and commodities . we generate market-making revenues in these activities in three ways : 2030 in large , highly liquid markets ( such as markets for u.s . treasury bills or certain mortgage pass-through certificates ) , we execute a high volume of transactions for our clients for modest spreads and fees . 2030 in less liquid markets ( such as mid-cap corporate bonds , growth market currencies or certain non-agency mortgage-backed securities ) , we execute transactions for our clients for spreads and fees that are generally somewhat larger . 2030 we also structure and execute transactions involving customized or tailor-made products that address our clients 2019 risk exposures , investment objectives or other complex needs ( such as a jet fuel hedge for an airline ) . given the focus on the mortgage market , our mortgage activities are further described below . our activities in mortgages include commercial mortgage- related securities , loans and derivatives , residential mortgage-related securities , loans and derivatives ( including u.s . government agency-issued collateralized mortgage obligations , other prime , subprime and alt-a securities and loans ) , and other asset-backed securities , loans and derivatives . we buy , hold and sell long and short mortgage positions , primarily for market making for our clients . our inventory therefore changes based on client demands and is generally held for short-term periods . see notes 18 and 27 to the consolidated financial statements for information about exposure to mortgage repurchase requests , mortgage rescissions and mortgage-related litigation . equities . includes client execution activities related to making markets in equity products and commissions and fees from executing and clearing institutional client transactions on major stock , options and futures exchanges worldwide , as well as over-the-counter transactions . equities also includes our securities services business , which provides financing , securities lending and other prime brokerage services to institutional clients , including hedge funds , mutual funds , pension funds and foundations , and generates revenues primarily in the form of interest rate spreads or fees . the table below presents the operating results of our institutional client services segment. .
|in millions|year ended december 2013|year ended december 2012|year ended december 2011|
|fixed income currency and commodities client execution|$ 8651|$ 9914|$ 9018|
|equities client execution1|2594|3171|3031|
|commissions and fees|3103|3053|3633|
|securities services|1373|1986|1598|
|total equities|7070|8210|8262|
|total net revenues|15721|18124|17280|
|operating expenses|11782|12480|12837|
|pre-tax earnings|$ 3939|$ 5644|$ 4443|
1 . in april 2013 , we completed the sale of a majority stake in our americas reinsurance business and no longer consolidate this business . net revenues related to the americas reinsurance business were $ 317 million for 2013 , $ 1.08 billion for 2012 and $ 880 million for 2011 . see note 12 to the consolidated financial statements for further information about this sale . 2013 versus 2012 . net revenues in institutional client services were $ 15.72 billion for 2013 , 13% ( 13 % ) lower than 2012 . net revenues in fixed income , currency and commodities client execution were $ 8.65 billion for 2013 , 13% ( 13 % ) lower than 2012 , reflecting significantly lower net revenues in interest rate products compared with a solid 2012 , and significantly lower net revenues in mortgages compared with a strong 2012 . the decrease in interest rate products and mortgages primarily reflected the impact of a more challenging environment and lower activity levels compared with 2012 . in addition , net revenues in currencies were slightly lower , while net revenues in credit products and commodities were essentially unchanged compared with 2012 . in december 2013 , we completed the sale of a majority stake in our european insurance business and recognized a gain of $ 211 million . 50 goldman sachs 2013 annual report .
Question: for 2013 , operating expenses were what percent of pre-tax earnings?
Answer: | 2.99111 |
FINQA4547 | Please answer the given financial question based on the context.
Context: from those currently anticipated and expressed in such forward-looking statements as a result of a number of factors , including those we discuss under 201crisk factors 201d and elsewhere in this form 10-k . you should read 201crisk factors 201d and 201cforward-looking statements . 201d executive overview general american water works company , inc . ( herein referred to as 201camerican water 201d or the 201ccompany 201d ) is the largest investor-owned united states water and wastewater utility company , as measured both by operating revenues and population served . our approximately 6400 employees provide drinking water , wastewater and other water related services to an estimated 15 million people in 47 states and in one canadian province . our primary business involves the ownership of water and wastewater utilities that provide water and wastewater services to residential , commercial , industrial and other customers . our regulated businesses that provide these services are generally subject to economic regulation by state regulatory agencies in the states in which they operate . the federal government and the states also regulate environmental , health and safety and water quality matters . our regulated businesses provide services in 16 states and serve approximately 3.2 million customers based on the number of active service connections to our water and wastewater networks . we report the results of these businesses in our regulated businesses segment . we also provide services that are not subject to economic regulation by state regulatory agencies . we report the results of these businesses in our market-based operations segment . in 2014 , we continued the execution of our strategic goals . our commitment to growth through investment in our regulated infrastructure and expansion of our regulated customer base and our market-based operations , combined with operational excellence led to continued improvement in regulated operating efficiency , improved performance of our market-based operations , and enabled us to provide increased value to our customers and investors . during the year , we focused on growth , addressed regulatory lag , made more efficient use of capital and improved our regulated operation and maintenance ( 201co&m 201d ) efficiency ratio . 2014 financial results for the year ended december 31 , 2014 , we continued to increase net income , while making significant capital investment in our infrastructure and implementing operational efficiency improvements to keep customer rates affordable . highlights of our 2014 operating results compared to 2013 and 2012 include: .
||2014|2013|2012|
|income from continuing operations|$ 2.39|$ 2.07|$ 2.10|
|income ( loss ) from discontinued operations net of tax|$ -0.04 ( 0.04 )|$ -0.01 ( 0.01 )|$ -0.09 ( 0.09 )|
|diluted earnings per share|$ 2.35|$ 2.06|$ 2.01|
continuing operations income from continuing operations included 4 cents per diluted share of costs resulting from the freedom industries chemical spill in west virginia in 2014 and included 14 cents per diluted share in 2013 related to a tender offer . earnings from continuing operations , adjusted for these two items , increased 10% ( 10 % ) , or 22 cents per share , mainly due to favorable operating results from our regulated businesses segment due to higher revenues and lower operating expenses , partially offset by higher depreciation expenses . also contributing to the overall increase in income from continuing operations was lower interest expense in 2014 compared to the same period in 2013. .
Question: by how much did income from continuing operations increase from 2012 to 2014?
Answer: | 0.1381 |
FINQA4548 | 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 , 2015 . 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 1424356 $ 33.90 4281952 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|1424356|$ 33.90|4281952|
|equity compensation plans not approved by security holders ( 3 )|2014|2014|2014|
|total|1424356|$ 33.90|4281952|
( 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 , 533397 were subject to stock options and 54191 were stock rights granted under the 2011 plan . in addition , this number includes 35553 stock rights , 10279 restricted stock rights , and 790936 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement . ( 2 ) this is the weighted average exercise price of the 533397 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 2016 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 2016 annual meeting of stockholders , to be filed within 120 days after the end of the company 2019s fiscal year. .
Question: what portion of the equity compensation plans approved by security holders remains available for future issuance?
Answer: | 0.75039 |
FINQA4549 | Please answer the given financial question based on the context.
Context: currencies of major industrial countries . we may also enter into foreign currency option contracts to hedge anticipated transactions where there is a high probability that anticipated exposures will materialize . the foreign currency forward contracts entered into to hedge antici- pated transactions have been designated as foreign currency cash-flow hedges and have varying maturities through the end of march 2015 . hedge effectiveness of foreign currency forward contracts is based on a hypo- thetical derivative methodology and excludes the portion of fair value attributable to the spot-forward difference which is recorded in current-period earnings . hedge effectiveness of foreign currency option contracts is based on a dollar offset methodology . the ineffective portion of both foreign currency forward and option con- tracts is recorded in current-period earnings . for hedge contracts that are no longer deemed highly effective , hedge accounting is discontinued and gains and losses accumulated in other comprehensive income ( loss ) are reclassified to earnings when the underlying forecasted transaction occurs . if it is probable that the forecasted transaction will no longer occur , then any gains or losses in accumulated other comprehensive income ( loss ) are reclassified to current-period earnings . as of june 30 , 2013 , these foreign currency cash-flow hedges were highly effective in all material respects . at june 30 , 2013 , we had foreign currency forward contracts in the amount of $ 1579.6 million . the foreign currencies included in foreign currency forward contracts ( notional value stated in u.s . dollars ) are principally the british pound ( $ 426.2 million ) , euro ( $ 268.8 million ) , canadian dollar ( $ 198.6 million ) , swiss franc ( $ 111.5 mil- lion ) , australian dollar ( $ 92.1 million ) , thailand baht ( $ 75.5 million ) and hong kong dollar ( $ 58.1 million ) . credit risk as a matter of policy , we only enter into derivative con- tracts with counterparties that have a long-term credit rat- ing of at least a- or higher by at least two nationally recognized rating agencies . the counterparties to these contracts are major financial institutions . exposure to credit risk in the event of nonperformance by any of the counterparties is limited to the gross fair value of con- tracts in asset positions , which totaled $ 21.7 million at june 30 , 2013 . to manage this risk , we have established counterparty credit guidelines that are continually moni- tored . accordingly , management believes risk of loss under these hedging contracts is remote . certain of our derivative financial instruments contain credit-risk-related contingent features . at june 30 , 2013 , we were in a net asset position for certain derivative contracts that contain such features with two counter- parties . the fair value of those contracts as of june 30 , 2013 was approximately $ 4.6 million . as of june 30 , 2013 , we were in compliance with such credit-risk-related contingent features . market risk we use a value-at-risk model to assess the market risk of our derivative financial instruments . value-at-risk repre- sents the potential losses for an instrument or portfolio from adverse changes in market factors for a specified time period and confidence level . we estimate value-at- risk across all of our derivative financial instruments using a model with historical volatilities and correlations calcu- lated over the past 250-day period . the high , low and average measured value-at-risk during fiscal 2013 related to our foreign exchange contracts is as follows: .
|( in millions )|year ended june 30 2013 high|year ended june 30 2013 low|year ended june 30 2013 average|
|foreign exchange contracts|$ 24.5|$ 19.1|$ 21.9|
foreign exchange contracts $ 24.5 $ 19.1 $ 21.9 the model estimates were made assuming normal market conditions and a 95 percent confidence level . we used a statistical simulation model that valued our derivative financial instruments against one thousand randomly gen- erated market price paths . our calculated value-at-risk exposure represents an estimate of reasonably possible net losses that would be recognized on our portfolio of derivative financial instruments assuming hypothetical movements in future market rates and is not necessarily indicative of actual results , which may or may not occur . it does not represent the maximum possible loss or any expected loss that may occur , since actual future gains and losses will differ from those estimated , based upon actual fluctuations in market rates , operating exposures , and the timing thereof , and changes in our portfolio of derivative financial instruments during the year . we believe , however , that any such loss incurred would be offset by the effects of market rate movements on the respective underlying transactions for which the deriva- tive financial instrument was intended . off-balance sheet arrangements we do not maintain any off-balance sheet arrangements , transactions , obligations or other relationships with unconsolidated entities , other than operating leases , that would be expected to have a material current or future effect upon our financial condition or results of operations . the est{e lauder companies inc . 135 .
Question: what is the percentage of the british pound among the total foreign currency forward contracts?
Answer: | 0.26982 |
FINQA4550 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements ( continued ) | 72 snap-on incorporated following is a reconciliation of the beginning and ending amount of unrecognized tax benefits : ( amounts in millions ) amount .
|( amounts in millions )|amount|
|unrecognized tax benefits as of december 31 2006|$ 21.3|
|gross increases 2013 tax positions in prior periods|0.5|
|gross decreases 2013 tax positions in prior periods|-0.4 ( 0.4 )|
|gross increases 2013 tax positions in the current period|0.5|
|settlements with taxing authorities|-3.0 ( 3.0 )|
|lapsing of statutes of limitations|-0.2 ( 0.2 )|
|unrecognized tax benefits as of december 29 2007|$ 18.7|
of the $ 18.7 million of unrecognized tax benefits at the end of 2007 , approximately $ 16.2 million would impact the effective income tax rate if recognized . interest and penalties related to unrecognized tax benefits are recorded in income tax expense . during the years ended december 29 , 2007 , december 30 , 2006 , and december 31 , 2005 , the company recognized approximately $ 1.2 million , $ 0.5 million and ( $ 0.5 ) million in net interest expense ( benefit ) , respectively . the company has provided for approximately $ 3.4 million , $ 2.2 million , and $ 1.7 million of accrued interest related to unrecognized tax benefits at the end of fiscal year 2007 , 2006 and 2005 , respectively . during the next 12 months , the company does not anticipate any significant changes to the total amount of unrecognized tax benefits , other than the accrual of additional interest expense in an amount similar to the prior year 2019s expense . 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 2003 , and snap-on is no longer subject to non-u.s . income tax examinations by tax authorities for years prior to 2001 . the undistributed earnings of all non-u.s . subsidiaries totaled $ 338.5 million , $ 247.4 million and $ 173.6 million at the end of fiscal 2007 , 2006 and 2005 , 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 . the american jobs creation act of 2004 ( the 201cajca 201d ) created a one-time tax incentive for u.s . corporations to repatriate accumulated foreign earnings by providing a tax deduction of 85% ( 85 % ) of qualifying dividends received from foreign affiliates . under the provisions of the ajca , snap-on repatriated approximately $ 93 million of qualifying dividends in 2005 that resulted in additional income tax expense of $ 3.3 million for the year . note 9 : short-term and long-term debt notes payable and long-term debt as of december 29 , 2007 , was $ 517.9 million ; no commercial paper was outstanding at december 29 , 2007 . as of december 30 , 2006 , notes payable and long-term debt was $ 549.2 million , including $ 314.9 million of commercial paper . snap-on presented $ 300 million of the december 30 , 2006 , outstanding commercial paper as 201clong-term debt 201d on the accompanying december 30 , 2006 , consolidated balance sheet . on january 12 , 2007 , snap-on sold $ 300 million of unsecured notes consisting of $ 150 million of floating rate notes that mature on january 12 , 2010 , and $ 150 million of fixed rate notes that mature on january 15 , 2017 . interest on the floating rate notes accrues at a rate equal to the three-month london interbank offer rate plus 0.13% ( 0.13 % ) per year and is payable quarterly . interest on the fixed rate notes accrues at a rate of 5.50% ( 5.50 % ) per year and is payable semi-annually . snap-on used the proceeds from the sale of the notes , net of $ 1.5 million of transaction costs , to repay commercial paper obligations issued to finance the acquisition of business solutions . on january 12 , 2007 , the company also terminated a $ 250 million bridge credit agreement that snap-on established prior to its acquisition of business solutions. .
Question: in 2007 what was the change in the unrecognized tax benefits in millions
Answer: | -0.12207 |
FINQA4551 | 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: of the current assets ( inclusive of cash acquired of $ 1725 ) , what percentage was accounts receivable?
Answer: | 0.10319 |
FINQA4552 | Please answer the given financial question based on the context.
Context: 2014 , 2013 and 2012 . the decrease in our consolidated net adjustments for 2014 compared to 2013 was primarily due to a decrease in profit booking rate adjustments at our aeronautics , mfc and mst business segments . the increase in our consolidated net adjustments for 2013 as compared to 2012 was primarily due to an increase in profit booking rate adjustments at our mst and mfc business segments and , to a lesser extent , the increase in the favorable resolution of contractual matters for the corporation . the consolidated net adjustments for 2014 are inclusive of approximately $ 650 million in unfavorable items , which include reserves recorded on certain training and logistics solutions programs at mst and net warranty reserve adjustments for various programs ( including jassm and gmlrs ) at mfc as described in the respective business segment 2019s results of operations below . the consolidated net adjustments for 2013 and 2012 are inclusive of approximately $ 600 million and $ 500 million in unfavorable items , which include a significant profit reduction on the f-35 development contract in both years , as well as a significant profit reduction on the c-5 program in 2013 , each as described in our aeronautics business segment 2019s results of operations discussion below . aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles and related technologies . aeronautics 2019 major programs include the f-35 lightning ii joint strike fighter , c-130 hercules , f-16 fighting falcon , f-22 raptor and the c-5m super galaxy . aeronautics 2019 operating results included the following ( in millions ) : .
||2014|2013|2012|
|net sales|$ 14920|$ 14123|$ 14953|
|operating profit|1649|1612|1699|
|operating margins|11.1% ( 11.1 % )|11.4% ( 11.4 % )|11.4% ( 11.4 % )|
|backlog at year-end|$ 27600|$ 28000|$ 30100|
2014 compared to 2013 aeronautics 2019 net sales for 2014 increased $ 797 million , or 6% ( 6 % ) , compared to 2013 . the increase was primarily attributable to higher net sales of approximately $ 790 million for f-35 production contracts due to increased volume and sustainment activities ; about $ 55 million for the f-16 program due to increased deliveries ( 17 aircraft delivered in 2014 compared to 13 delivered in 2013 ) partially offset by contract mix ; and approximately $ 45 million for the f-22 program due to increased risk retirements . the increases were partially offset by lower net sales of approximately $ 55 million for the f-35 development contract due to decreased volume , partially offset by the absence in 2014 of the downward revision to the profit booking rate that occurred in 2013 ; and about $ 40 million for the c-130 program due to fewer deliveries ( 24 aircraft delivered in 2014 compared to 25 delivered in 2013 ) and decreased sustainment activities , partially offset by contract mix . aeronautics 2019 operating profit for 2014 increased $ 37 million , or 2% ( 2 % ) , compared to 2013 . the increase was primarily attributable to higher operating profit of approximately $ 85 million for the f-35 development contract due to the absence in 2014 of the downward revision to the profit booking rate that occurred in 2013 ; about $ 75 million for the f-22 program due to increased risk retirements ; approximately $ 50 million for the c-130 program due to increased risk retirements and contract mix , partially offset by fewer deliveries ; and about $ 25 million for the c-5 program due to the absence in 2014 of the downward revisions to the profit booking rate that occurred in 2013 . the increases were partially offset by lower operating profit of approximately $ 130 million for the f-16 program due to decreased risk retirements , partially offset by increased deliveries ; and about $ 70 million for sustainment activities due to decreased risk retirements and volume . operating profit was comparable for f-35 production contracts as higher volume was offset by lower risk retirements . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 105 million lower for 2014 compared to 2013 . 2013 compared to 2012 aeronautics 2019 net sales for 2013 decreased $ 830 million , or 6% ( 6 % ) , compared to 2012 . the decrease was primarily attributable to lower net sales of approximately $ 530 million for the f-16 program due to fewer aircraft deliveries ( 13 aircraft delivered in 2013 compared to 37 delivered in 2012 ) partially offset by aircraft configuration mix ; about $ 385 million for the c-130 program due to fewer aircraft deliveries ( 25 aircraft delivered in 2013 compared to 34 in 2012 ) partially offset by increased sustainment activities ; approximately $ 255 million for the f-22 program , which includes about $ 205 million due to .
Question: what was the percent of the change in the operating profit from 2013 to 2014
Answer: | 0.00063 |
FINQA4553 | Please answer the given financial question based on the context.
Context: part iii item 10 . directors , executive officers and corporate governance the information required by this item is incorporated by reference to the 201celection of directors 201d section , the 201cdirector selection process 201d section , the 201ccode of conduct 201d section , the 201cprincipal committees of the board of directors 201d section , the 201caudit committee 201d section and the 201csection 16 ( a ) beneficial ownership reporting compliance 201d section of the proxy statement for the annual meeting of stockholders to be held on may 27 , 2010 ( the 201cproxy statement 201d ) , except for the description of our executive officers , which appears in part i of this report on form 10-k under the heading 201cexecutive officers of ipg . 201d new york stock exchange certification in 2009 , our ceo provided the annual ceo certification to the new york stock exchange , as required under section 303a.12 ( a ) of the new york stock exchange listed company manual . item 11 . executive compensation the information required by this item is incorporated by reference to the 201ccompensation of executive officers 201d section , the 201cnon-management director compensation 201d section , the 201ccompensation discussion and analysis 201d section and the 201ccompensation committee report 201d section of the proxy statement . item 12 . security ownership of certain beneficial owners and management and related stockholder matters the information required by this item is incorporated by reference to the 201coutstanding shares 201d section of the proxy statement , except for information regarding the shares of common stock to be issued or which may be issued under our equity compensation plans as of december 31 , 2009 , which is provided in the following table . equity compensation plan information plan category number of shares of common stock to be issued upon exercise of outstanding options , warrants and rights ( a ) 12 weighted-average exercise price of outstanding stock options ( b ) number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column a ) ( c ) 3 equity compensation plans approved by security holders . . . . . . . . . 34317386 $ 16.11 52359299 equity compensation plans not approved by security holders 4 . . . . . 612500 $ 27.53 2014 .
|plan category|number of shares of common stock to be issued upon exercise of outstandingoptions warrants and rights ( a ) 12|weighted-average exercise price of outstanding stock options ( b )|number of securities remaining available for futureissuance under equity compensation plans ( excluding securities reflected in column a ) ( c ) 3|
|equity compensation plans approved by security holders|34317386|$ 16.11|52359299|
|equity compensation plans not approved by security holders4|612500|$ 27.53|2014|
|total|34929886|$ 16.31|52359299|
1 includes a total of 6058967 performance-based share awards made under the 2004 , 2006 and 2009 performance incentive plan representing the target number of shares to be issued to employees following the completion of the 2007-2009 performance period ( the 201c2009 ltip share awards 201d ) , the 2008- 2010 performance period ( the 201c2010 ltip share awards 201d ) and the 2009-2011 performance period ( the 201c2011 ltip share awards 201d ) respectively . the computation of the weighted-average exercise price in column ( b ) of this table does not take the 2009 ltip share awards , the 2010 ltip share awards or the 2011 ltip share awards into account . 2 includes a total of 3914804 restricted share unit and performance-based awards ( 201cshare unit awards 201d ) which may be settled in shares or cash . the computation of the weighted-average exercise price in column ( b ) of this table does not take the share unit awards into account . each share unit award actually settled in cash will increase the number of shares of common stock available for issuance shown in column ( c ) . 3 includes ( i ) 37885502 shares of common stock available for issuance under the 2009 performance incentive plan , ( ii ) 13660306 shares of common stock available for issuance under the employee stock purchase plan ( 2006 ) and ( iii ) 813491 shares of common stock available for issuance under the 2009 non-management directors 2019 stock incentive plan . 4 consists of special stock option grants awarded to certain true north executives following our acquisition of true north ( the 201ctrue north options 201d ) . the true north options have an exercise price equal to the fair market value of interpublic 2019s common stock on the date of the grant . the terms and conditions of these stock option awards are governed by interpublic 2019s 1997 performance incentive plan . generally , the options become exercisable between two and five years after the date of the grant and expire ten years from the grant date. .
Question: what was the total cost of all shares of common stock upon the exercise of outstanding stock options that were approved by security holders?
Answer: | 552853088.46 |
FINQA4554 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements recognizing customer revenue , the company must assess the collectability of both the amounts billed and the portion recognized on a straight-line basis . this assessment takes customer credit risk and business and industry conditions into consideration to ultimately determine the collectability of the amounts billed . to the extent the amounts , based on management 2019s estimates , may not be collectible , recognition is deferred until such point as the uncertainty is resolved . any amounts which were previously recognized as revenue and subsequently determined to be uncollectible are charged to bad debt expense . accounts receivable are reported net of allowances for doubtful accounts related to estimated losses resulting from a customer 2019s inability to make required payments and reserves for amounts invoiced whose collectability is not reasonably assured . these allowances are generally estimated based on payment patterns , days past due and collection history , and incorporate changes in economic conditions that may not be reflected in historical trends , such as customers in bankruptcy , liquidation or reorganization . receivables are written-off against the allowances when they are determined uncollectible . such determination includes analysis and consideration of the particular conditions of the account . changes in the allowances were as follows for the years ended december 31 , ( in thousands ) : .
||2010|2009|2008|
|balance as of january 1,|$ 28520|$ 11482|$ 8850|
|current year increases|16219|26771|12059|
|recoveries and other|-22234 ( 22234 )|-9733 ( 9733 )|-9427 ( 9427 )|
|balance as of december 31,|$ 22505|$ 28520|$ 11482|
the company 2019s largest international customer is iusacell , which is the brand name under which a group of companies controlled by grupo iusacell , s.a . de c.v . ( 201cgrupo iusacell 201d ) operates . iusacell represented approximately 4% ( 4 % ) of the company 2019s total revenue for the year ended december 31 , 2010 . grupo iusacell has been engaged in a refinancing of a majority of its u.s . dollar denominated debt , and in connection with this process , two of the legal entities of the group , including grupo iusacell , voluntarily filed for a pre-packaged concurso mercantil ( a process substantially equivalent to chapter 11 of u.s . bankruptcy law ) with the backing of a majority of their financial creditors in december 2010 . as of december 31 , 2010 , iusacell notes receivable , net , and related assets ( which include financing lease commitments and a deferred rent asset that are primarily long-term in nature ) were $ 19.7 million and $ 51.2 million , respectively . functional currency 2014as a result of changes to the organizational structure of the company 2019s subsidiaries in latin america in 2010 , the company determined that effective january 1 , 2010 , the functional currency of its foreign subsidiary in brazil is the brazilian real . from that point forward , all assets and liabilities held by the subsidiary in brazil are translated into u.s . dollars at the exchange rate in effect at the end of the applicable reporting period . revenues and expenses are translated at the average monthly exchange rates and the cumulative translation effect is included in stockholders 2019 equity . the change in functional currency from u.s . dollars to brazilian real gave rise to an increase in the net value of certain non-monetary assets and liabilities . the aggregate impact on such assets and liabilities was $ 39.8 million with an offsetting increase in accumulated other comprehensive income ( loss ) . as a result of the renegotiation of the company 2019s agreements with its largest international customer , iusacell , which included , among other changes , converting all of iusacell 2019s contractual obligations to the company from u.s . dollars to mexican pesos , the company has determined that effective april 1 , 2010 , the functional currency of certain of its foreign subsidiaries in mexico is the mexican peso . from that point forward , all assets and liabilities held by those subsidiaries in mexico are translated into u.s . dollars at the exchange rate in effect at the end of the applicable reporting period . revenues and expenses are translated at the average monthly exchange rates and the cumulative translation effect is included in stockholders 2019 equity . the change in functional .
Question: what is the percentage change in the balance of allowances from 2008 to 2009?
Answer: | 1.48389 |
FINQA4555 | Please answer the given financial question based on the context.
Context: domestic utility companies and system energy notes to respective financial statements protested the disallowance of these deductions to the office of irs appeals . entergy expects to receive a notice of deficiency in 2005 for this item , and plans to vigorously contest this matter . entergy believes that the contingency provision established in its financial statements sufficiently covers the risk associated with this item . mark to market of certain power contracts in 2001 , entergy louisiana changed its method of accounting for tax purposes related to its wholesale electric power contracts . the most significant of these is the contract to purchase power from the vidalia hydroelectric project . the new tax accounting method has provided a cumulative cash flow benefit of approximately $ 790 million as of december 31 , 2004 . the related irs interest exposure is $ 93 million at december 31 , 2004 . this benefit is expected to reverse in the years 2005 through 2031 . the election did not reduce book income tax expense . the timing of the reversal of this benefit depends on several variables , including the price of power . due to the temporary nature of the tax benefit , the potential interest charge represents entergy's net earnings exposure . entergy louisiana's 2001 tax return is currently under examination by the irs , though no adjustments have yet been proposed with respect to the mark to market election . entergy believes that the contingency provision established in its financial statements will sufficiently cover the risk associated with this issue . cashpoint bankruptcy ( entergy arkansas , entergy gulf states , entergy louisiana , entergy mississippi , and entergy new orleans ) in 2003 the domestic utility companies entered an agreement with cashpoint network services ( cashpoint ) under which cashpoint was to manage a network of payment agents through which entergy's utility customers could pay their bills . the payment agent system allows customers to pay their bills at various commercial or governmental locations , rather than sending payments by mail . approximately one-third of entergy's utility customers use payment agents . on april 19 , 2004 , cashpoint failed to pay funds due to the domestic utility companies that had been collected through payment agents . the domestic utility companies then obtained a temporary restraining order from the civil district court for the parish of orleans , state of louisiana , enjoining cashpoint from distributing funds belonging to entergy , except by paying those funds to entergy . on april 22 , 2004 , a petition for involuntary chapter 7 bankruptcy was filed against cashpoint by other creditors in the united states bankruptcy court for the southern district of new york . in response to these events , the domestic utility companies expanded an existing contract with another company to manage all of their payment agents . the domestic utility companies filed proofs of claim in the cashpoint bankruptcy proceeding in september 2004 . although entergy cannot precisely determine at this time the amount that cashpoint owes to the domestic utility companies that may not be repaid , it has accrued an estimate of loss based on current information . if no cash is repaid to the domestic utility companies , an event entergy does not believe is likely , the current estimates of maximum exposure to loss are approximately as follows : amount ( in millions ) .
||amount ( in millions )|
|entergy arkansas|$ 1.8|
|entergy gulf states|$ 7.7|
|entergy louisiana|$ 8.8|
|entergy mississippi|$ 4.3|
|entergy new orleans|$ 2.4|
environmental issues ( entergy gulf states ) entergy gulf states has been designated as a prp for the cleanup of certain hazardous waste disposal sites . as of december 31 , 2004 , entergy gulf states does not expect the remaining clean-up costs to exceed its recorded liability of $ 1.5 million for the remaining sites at which the epa has designated entergy gulf states as a prp. .
Question: what are the current estimates of maximum exposure to loss for entergy louisiana as a percentage of the cumulative cash flow benefit?
Answer: | 0.01114 |
FINQA4556 | Please answer the given financial question based on the context.
Context: table 46 : allowance for loan and lease losses .
|dollars in millions|2013|2012|
|january 1|$ 4036|$ 4347|
|total net charge-offs|-1077 ( 1077 )|-1289 ( 1289 )|
|provision for credit losses|643|987|
|net change in allowance for unfunded loan commitments and letters of credit|8|-10 ( 10 )|
|other|-1 ( 1 )|1|
|december 31|$ 3609|$ 4036|
|net charge-offs to average loans ( for the year ended ) ( a )|.57% ( .57 % )|.73% ( .73 % )|
|allowance for loan and lease losses to total loans|1.84|2.17|
|commercial lending net charge-offs|$ -249 ( 249 )|$ -359 ( 359 )|
|consumer lending net charge-offs|-828 ( 828 )|-930 ( 930 )|
|total net charge-offs|$ -1077 ( 1077 )|$ -1289 ( 1289 )|
|net charge-offs to average loans ( for the year ended )|||
|commercial lending|.22% ( .22 % )|.35% ( .35 % )|
|consumer lending ( a )|1.07|1.24|
( a ) includes charge-offs of $ 134 million taken pursuant to alignment with interagency guidance on practices for loans and lines of credit related to consumer lending in the first quarter of 2013 . the provision for credit losses totaled $ 643 million for 2013 compared to $ 987 million for 2012 . the primary driver of the decrease to the provision was improved overall credit quality , including improved commercial loan risk factors , lower consumer loan delinquencies and improvements in expected cash flows for our purchased impaired loans . for 2013 , the provision for commercial lending credit losses decreased by $ 102 million , or 74% ( 74 % ) , from 2012 . the provision for consumer lending credit losses decreased $ 242 million , or 29% ( 29 % ) , from 2012 . at december 31 , 2013 , total alll to total nonperforming loans was 117% ( 117 % ) . the comparable amount for december 31 , 2012 was 124% ( 124 % ) . these ratios are 72% ( 72 % ) and 79% ( 79 % ) , respectively , when excluding the $ 1.4 billion and $ 1.5 billion , respectively , of alll at december 31 , 2013 and december 31 , 2012 allocated to consumer loans and lines of credit not secured by residential real estate and purchased impaired loans . we have excluded consumer loans and lines of credit not secured by real estate as they are charged off after 120 to 180 days past due and not placed on nonperforming status . additionally , we have excluded purchased impaired loans as they are considered performing regardless of their delinquency status as interest is accreted based on our estimate of expected cash flows and additional allowance is recorded when these cash flows are below recorded investment . see table 35 within this credit risk management section for additional information . the alll balance increases or decreases across periods in relation to fluctuating risk factors , including asset quality trends , charge-offs and changes in aggregate portfolio balances . during 2013 , improving asset quality trends , including , but not limited to , delinquency status and improving economic conditions , realization of previously estimated losses through charge-offs , including the impact of alignment with interagency guidance and overall portfolio growth , combined to result in the alll balance declining $ .4 billion , or 11% ( 11 % ) to $ 3.6 billion as of december 31 , 2013 compared to december 31 , 2012 . see note 7 allowances for loan and lease losses and unfunded loan commitments and letters of credit and note 6 purchased loans in the notes to consolidated financial statements in item 8 of this report regarding changes in the alll and in the allowance for unfunded loan commitments and letters of credit . operational risk management operational risk is the risk of loss resulting from inadequate or failed internal processes or systems , human factors , or external events . this includes losses that may arise as a result of non- compliance with laws or regulations , failure to fulfill fiduciary responsibilities , as well as litigation or other legal actions . operational risk may occur in any of our business activities and manifests itself in various ways , including but not limited to : 2022 transaction processing errors , 2022 unauthorized transactions and fraud by employees or third parties , 2022 material disruption in business activities , 2022 system breaches and misuse of sensitive information , 2022 regulatory or governmental actions , fines or penalties , and 2022 significant legal expenses , judgments or settlements . pnc 2019s operational risk management is inclusive of technology risk management , compliance and business continuity risk . operational risk management focuses on balancing business needs , regulatory expectations and risk management priorities through an adaptive and proactive program that is designed to provide a strong governance model , sound and consistent risk management processes and transparent operational risk reporting across the enterprise . the pnc board determines the strategic approach to operational risk via establishment of the operational risk appetite and appropriate risk management structure . this includes establishment of risk metrics and limits and a reporting structure to identify , understand and manage operational risks . executive management has responsibility for operational risk management . the executive management team is responsible for monitoring significant risks , key controls and related issues through management reporting and a governance structure of risk committees and sub-committees . within risk management , operational risk management functions are responsible for developing and maintaining the 84 the pnc financial services group , inc . 2013 form 10-k .
Question: what was the percentage change in the provision for credit losses from 2012 to 2013
Answer: | -0.34853 |
FINQA4557 | Please answer the given financial question based on the context.
Context: company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s . technology index . the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s . technology index on september 30 , 2006 . data points on the graph are annual . note that historic stock price performance is not necessarily indicative of future stock price performance . comparison of 5 year cumulative total return* among apple inc. , the s&p 500 index , the s&p computer hardware index and the dow jones us technology index sep-10sep-09sep-08sep-07sep-06 sep-11 apple inc . s&p 500 s&p computer hardware dow jones us technology *$ 100 invested on 9/30/06 in stock or index , including reinvestment of dividends . fiscal year ending september 30 . copyright a9 2011 s&p , a division of the mcgraw-hill companies inc . all rights reserved . copyright a9 2011 dow jones & co . all rights reserved . september 30 , september 30 , september 30 , september 30 , september 30 , september 30 .
||september 30 2006|september 30 2007|september 30 2008|september 30 2009|september 30 2010|september 30 2011|
|apple inc .|$ 100|$ 199|$ 148|$ 241|$ 369|$ 495|
|s&p 500|$ 100|$ 116|$ 91|$ 85|$ 93|$ 94|
|s&p computer hardware|$ 100|$ 148|$ 124|$ 147|$ 174|$ 197|
|dow jones us technology|$ 100|$ 123|$ 94|$ 104|$ 117|$ 120|
.
Question: did apple achieve a greater return in the year ended sept . 30 2009 than the s&p 500?
Answer: | yes |
FINQA4558 | Please answer the given financial question based on the context.
Context: gain on land sales are derived from sales of undeveloped land owned by us . we pursue opportunities to dispose of land in markets with a high concentration of undeveloped land and in those markets where the land no longer meets our strategic development plans . the increase was partially attributable to a land sale to a current corporate tenant for potential future expansion . we recorded $ 424000 and $ 560000 of impairment charges associated with contracts to sell land parcels for the years ended december 31 , 2004 and 2003 , respectively . as of december 31 , 2004 , only one parcel on which we recorded impairment charges is still owned by us . we anticipate selling this parcel in the first quarter of 2005 . discontinued operations we have classified operations of 86 buildings as discontinued operations as of december 31 , 2004 . these 86 buildings consist of 69 industrial , 12 office and five retail properties . as a result , we classified net income from operations , net of minority interest , of $ 1.6 million , $ 6.3 million and $ 10.7 million as net income from discontinued operations for the years ended december 31 , 2004 , 2003 and 2002 , respectively . in addition , 41 of the properties classified in discontinued operations were sold during 2004 , 42 properties were sold during 2003 , two properties were sold during 2002 and one operating property is classified as held-for-sale at december 31 , 2004 . the gains on disposal of these properties , net of impairment adjustment and minority interest , of $ 23.9 million and $ 11.8 million for the years ended december 31 , 2004 and 2003 , respectively , are also reported in discontinued operations . for the year ended december 31 , 2002 , a $ 4.5 million loss on disposal of properties , net of impairment adjustments and minority interest , is reported in discontinued operations due to impairment charges of $ 7.7 million recorded on three properties in 2002 that were later sold in 2003 and 2004 . comparison of year ended december 31 , 2003 to year ended december 31 , 2002 rental income from continuing operations rental income from continuing operations increased from $ 652.8 million in 2002 to $ 689.3 million in 2003 . the following table reconciles rental income by reportable segment to our total reported rental income from continuing operations for the years ended december 31 , 2003 and 2002 ( in thousands ) : .
||2003|2002|
|office|$ 419962|$ 393810|
|industrial|259762|250391|
|retail|5863|4733|
|other|3756|3893|
|total|$ 689343|$ 652827|
although our three reportable segments comprising rental operations ( office , industrial and retail ) are all within the real estate industry , they are not necessarily affected by the same economic and industry conditions . for example , our retail segment experienced high occupancies and strong overall performance during 2003 , while our office and industrial segments reflected the weaker economic environment for those property types . the primary causes of the increase in rental income from continuing operations , with specific references to a particular segment when applicable , are summarized below : 25cf during 2003 , in-service occupancy improved from 87.1% ( 87.1 % ) at the end of 2002 to 89.3% ( 89.3 % ) at the end of 2003 . the second half of 2003 was highlighted by a significant increase in the industrial portfolio occupancy of 2.1% ( 2.1 % ) along with a slight increase in office portfolio occupancy of 0.9% ( 0.9 % ) . 25cf lease termination fees totaled $ 27.4 million in 2002 compared to $ 16.2 million in 2003 . most of this decrease was attributable to the office segment , which recognized $ 21.1 million of termination fees in 2002 as compared to $ 11.8 million in 2003 . lease termination fees relate to specific tenants that pay a fee to terminate their lease obligations before the end of the contractual lease term . the high volume of termination fees in 2002 was reflective of the contraction of the business of large office users during that year and their desire to downsize their use of office space . the decrease in termination fees for 2003 was indicative of an improving economy and a more stable financial position of our tenants . 25cf during the year ended 2003 , we acquired $ 232 million of properties totaling 2.1 million square feet . the acquisitions were primarily class a office buildings in existing markets with overall occupancy near 90% ( 90 % ) . revenues associated with these acquisitions totaled $ 11.9 million in 2003 . in addition , revenues from 2002 acquisitions totaled $ 15.8 million in 2003 compared to $ 4.8 million in 2002 . this significant increase is primarily due to a large office acquisition that closed at the end of december 2002 . 25cf developments placed in-service in 2003 provided revenues of $ 6.6 million , while revenues associated with developments placed in-service in 2002 totaled $ 13.7 million in 2003 compared to $ 4.7 million in 25cf proceeds from dispositions of held for rental properties totaled $ 126.1 million in 2003 , compared to $ 40.9 million in 2002 . these properties generated revenue of $ 12.5 million in 2003 versus $ 19.6 million in 2002 . equity in earnings of unconsolidated companies equity in earnings represents our ownership share of net income from investments in unconsolidated companies . these joint ventures generally own and operate rental properties and hold land for development . these earnings decreased from $ 27.2 million in 2002 to $ 23.7 million in 2003 . this decrease is a result of the following significant activity: .
Question: what are the lease termination fees as a percentage of rental income from continuing operations in 2003?
Answer: | 2.35021 |
FINQA4559 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis of financial condition and results of operations comcast corporation and subsidiaries28 comcast corporation and subsidiaries the exchangeable notes varies based upon the fair market value of the security to which it is indexed . the exchangeable notes are collateralized by our investments in cablevision , microsoft and vodafone , respectively . the comcast exchangeable notes are collateralized by our class a special common stock held in treasury . we have settled and intend in the future to settle all of the comcast exchangeable notes using cash . during 2004 and 2003 , we settled an aggregate of $ 847 million face amount and $ 638 million face amount , respectively , of our obligations relating to our notes exchangeable into comcast stock by delivering cash to the counterparty upon maturity of the instruments , and the equity collar agreements related to the underlying shares expired or were settled . during 2004 and 2003 , we settled $ 2.359 billion face amount and $ 1.213 billion face amount , respectively , of our obligations relating to our exchangeable notes by delivering the underlying shares of common stock to the counterparty upon maturity of the investments . as of december 31 , 2004 , our debt includes an aggregate of $ 1.699 billion of exchangeable notes , including $ 1.645 billion within current portion of long-term debt . as of december 31 , 2004 , the securities we hold collateralizing the exchangeable notes were sufficient to substantially satisfy the debt obligations associated with the outstanding exchangeable notes . stock repurchases . during 2004 , under our board-authorized , $ 2 billion share repurchase program , we repurchased 46.9 million shares of our class a special common stock for $ 1.328 billion . we expect such repurchases to continue from time to time in the open market or in private transactions , subject to market conditions . refer to notes 8 and 10 to our consolidated financial statements for a discussion of our financing activities . investing activities net cash used in investing activities from continuing operations was $ 4.512 billion for the year ended december 31 , 2004 , and consists primarily of capital expenditures of $ 3.660 billion , additions to intangible and other noncurrent assets of $ 628 million and the acquisition of techtv for approximately $ 300 million . capital expenditures . our most significant recurring investing activity has been and is expected to continue to be capital expendi- tures . the following table illustrates the capital expenditures we incurred in our cable segment during 2004 and expect to incur in 2005 ( dollars in millions ) : .
||2004|2005|
|deployment of cable modems digital converters and new service offerings|$ 2106|$ 2300|
|upgrading of cable systems|902|200|
|recurring capital projects|614|500|
|total cable segment capital expenditures|$ 3622|$ 3000|
the amount of our capital expenditures for 2005 and for subsequent years will depend on numerous factors , some of which are beyond our control , including competition , changes in technology and the timing and rate of deployment of new services . additions to intangibles . additions to intangibles during 2004 primarily relate to our investment in a $ 250 million long-term strategic license agreement with gemstar , multiple dwelling unit contracts of approximately $ 133 million and other licenses and software intangibles of approximately $ 168 million . investments . proceeds from sales , settlements and restructurings of investments totaled $ 228 million during 2004 , related to the sales of our non-strategic investments , including our 20% ( 20 % ) interest in dhc ventures , llc ( discovery health channel ) for approximately $ 149 million . we consider investments that we determine to be non-strategic , highly-valued , or both to be a source of liquidity . we consider our investment in $ 1.5 billion in time warner common-equivalent preferred stock to be an anticipated source of liquidity . we do not have any significant contractual funding commitments with respect to any of our investments . refer to notes 6 and 7 to our consolidated financial statements for a discussion of our investments and our intangible assets , respectively . off-balance sheet arrangements we do not have any significant off-balance sheet arrangements that are reasonably likely to have a current or future effect on our financial condition , results of operations , liquidity , capital expenditures or capital resources. .
Question: what percentage of total cable segment capital expenditures in 2005 where due to upgrading of cable systems?
Answer: | 0.06667 |
FINQA4560 | Please answer the given financial question based on the context.
Context: of exercise for stock options exercised or at period end for outstanding stock options , less the applicable exercise price . the company issued new shares to satisfy exercised stock options . compensation expense the company recorded $ 43 million , $ 34 million , and $ 44 million of expense related to stock awards for the years ended december 31 , 2015 , 2014 , and 2013 , respectively . the company recorded $ 17 million , $ 13 million , and $ 17 million as a tax benefit related to stock awards and stock options for the years ended december 31 , 2015 , 2014 , and 2013 , respectively . the company recognized tax benefits for the years ended december 31 , 2015 , 2014 , and 2013 , of $ 41 million , $ 53 million , and $ 32 million , respectively , from the issuance of stock in settlement of stock awards , and $ 4 million , $ 5 million , and $ 4 million for the years ended december 31 , 2015 , 2014 , and 2013 , respectively , from the exercise of stock options . unrecognized compensation expense as of december 31 , 2015 , the company had less than $ 1 million of unrecognized compensation expense associated with rsrs granted in 2015 and 2014 , which will be recognized over a weighted average period of 1.0 year , and $ 25 million of unrecognized expense associated with rpsrs granted in 2015 , 2014 , and 2013 , which will be recognized over a weighted average period of 0.6 years . as of december 31 , 2015 , the company had no unrecognized compensation expense related to stock options . compensation expense for stock options was fully recognized as of december 31 , 2013 . 20 . unaudited selected quarterly data unaudited quarterly financial results for the years ended december 31 , 2015 and 2014 , are set forth in the following tables: .
|( $ in millions except per share amounts )|year ended december 31 2015 1st qtr|year ended december 31 2015 2nd qtr ( 1 )|year ended december 31 2015 3rd qtr|year ended december 31 2015 4th qtr ( 2 )|
|sales and service revenues|$ 1570|$ 1745|$ 1800|$ 1905|
|operating income ( loss )|156|269|200|144|
|earnings ( loss ) before income taxes|133|244|175|80|
|net earnings ( loss )|87|156|111|50|
|dividends declared per share|$ 0.40|$ 0.40|$ 0.40|$ 0.50|
|basic earnings ( loss ) per share|$ 1.80|$ 3.22|$ 2.31|$ 1.07|
|diluted earnings ( loss ) per share|$ 1.79|$ 3.20|$ 2.29|$ 1.06|
( 1 ) in the second quarter of 2015 , the company recorded a $ 59 million goodwill impairment charge . during the same period , the company recorded $ 136 million of operating income as a result of the aon settlement . ( 2 ) in the fourth quarter of 2015 , the company recorded $ 16 million goodwill impairment and $ 27 million intangible asset impairment charges. .
Question: what was the total sales revenue in 2015 in millions
Answer: | 5115.0 |
FINQA4561 | Please answer the given financial question based on the context.
Context: secured financing is primarily conducted through citi 2019s broker-dealer subsidiaries to facilitate customer matched-book activity and to efficiently fund a portion of the trading inventory . secured financing appears as a liability on citi 2019s consolidated balance sheet ( 201csecurities loaned or sold under agreements to repurchase 201d ) . as of december 31 , 2010 , secured financing was $ 189.6 billion and averaged approximately $ 207 billion during the quarter ended december 31 , 2010 . secured financing at december 31 , 2010 increased by $ 35 billion from $ 154.3 billion at december 31 , 2009 . during the same period , reverse repos and securities borrowing increased by $ 25 billion . the majority of secured financing is collateralized by highly liquid government , government-backed and government agency securities . this collateral comes primarily from citi 2019s trading assets and its secured lending , and is part of citi 2019s client matched-book activity given that citi both borrows and lends similar asset types on a secured basis . the minority of secured financing is collateralized by less liquid collateral , and supports both citi 2019s trading assets as well as the business of secured lending to customers , which is also part of citi 2019s client matched-book activity . the less liquid secured borrowing is carefully calibrated by asset quality , tenor and counterparty exposure , including those that might be sensitive to ratings stresses , in order to increase the reliability of the funding . citi believes there are several potential mitigants available to it in the event of stress on the secured financing markets for less liquid collateral . citi 2019s significant liquidity resources in its non-bank entities as of december 31 , 2010 , supplemented by collateralized liquidity transfers between entities , provide a cushion . within the matched-book activity , the secured lending positions , which are carefully managed in terms of collateral and tenor , could be unwound to provide additional liquidity under stress . citi also has excess funding capacity for less liquid collateral with existing counterparties that can be accessed during potential dislocation . in addition , citi has the ability to adjust the size of select trading books to provide further mitigation . at december 31 , 2010 , commercial paper outstanding for citigroup 2019s non- bank entities and bank subsidiaries , respectively , was as follows : in billions of dollars non-bank bank ( 1 ) citigroup .
|in billions of dollars|non-bank|bank|-1 ( 1 )|total citigroup|
|commercial paper|$ 9.7|$ 15.0||$ 24.7|
( 1 ) includes $ 15 billion of commercial paper related to vies consolidated effective january 1 , 2010 with the adoption of sfas 166/167 . other short-term borrowings of approximately $ 54 billion ( as set forth in the secured financing and short-term borrowings table above ) include $ 42.4 billion of borrowings from banks and other market participants , which includes borrowings from the federal home loan banks . this represented a decrease of approximately $ 11 billion as compared to year-end 2009 . the average balance of borrowings from banks and other market participants for the quarter ended december 31 , 2010 was approximately $ 43 billion . other short-term borrowings also include $ 11.7 billion of broker borrowings at december 31 , 2010 , which averaged approximately $ 13 billion for the quarter ended december 31 , 2010 . see notes 12 and 19 to the consolidated financial statements for further information on citigroup 2019s and its affiliates 2019 outstanding long-term debt and short-term borrowings . liquidity transfer between entities liquidity is generally transferable within the non-bank , subject to regulatory restrictions ( if any ) and standard legal terms . similarly , the non-bank can generally transfer excess liquidity into citi 2019s bank subsidiaries , such as citibank , n.a . in addition , citigroup 2019s bank subsidiaries , including citibank , n.a. , can lend to the citigroup parent and broker-dealer in accordance with section 23a of the federal reserve act . as of december 31 , 2010 , the amount available for lending under section 23a was approximately $ 26.6 billion , provided the funds are collateralized appropriately. .
Question: what percentage of commercial paper outstanding as of december 31 , 2010 was for non-bank subsidiaries?
Answer: | 0.39271 |
FINQA4562 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis 126 jpmorgan chase & co./2014 annual report 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 exposure to a counterparty is an extreme measure of exposure calculated at a 97.5% ( 97.5 % ) confidence level . 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 . the measurement is done by equating the unexpected loss in a derivative counterparty exposure ( which takes into consideration both the loss volatility and the credit rating of the counterparty ) with the unexpected loss in a loan exposure ( which takes into consideration only the credit rating of the counterparty ) . dre is a less extreme measure of potential credit loss than peak and is the primary measure used by the firm for credit approval of derivative transactions . finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral . avg exposure over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit capital and the cva , as further described below . the three year avg exposure was $ 37.5 billion and $ 35.4 billion at december 31 , 2014 and 2013 , respectively , compared with derivative receivables , net of all collateral , of $ 59.4 billion and $ 51.3 billion at december 31 , 2014 and 2013 , respectively . the fair value of the firm 2019s derivative receivables incorporates an adjustment , the cva , to reflect the credit quality of counterparties . the cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market . the primary components of changes in cva are credit spreads , new deal activity or unwinds , and changes in the underlying market environment . the firm believes that active risk management is essential to controlling the dynamic credit risk in the derivatives portfolio . in addition , the firm 2019s risk management process takes into consideration the potential impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality . many factors may influence the nature and magnitude of these correlations over time . to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg . the firm risk manages exposure to changes in cva by entering into credit derivative transactions , as well as interest rate , foreign exchange , equity and commodity derivative transactions . the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the dre and avg metrics . the two measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio . the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of other liquid securities collateral , for the dates indicated . the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as defined by s&p and moody 2019s . ratings profile of derivative receivables rating equivalent 2014 2013 ( a ) december 31 , ( in millions , except ratios ) exposure net of all collateral % ( % ) of exposure net of all collateral exposure net of all collateral % ( % ) of exposure net of all collateral .
|rating equivalent december 31 ( in millions except ratios )|rating equivalent exposure net of all collateral|rating equivalent % ( % ) of exposure net of all collateral|exposure net of all collateral|% ( % ) of exposure net of all collateral|
|aaa/aaa to aa-/aa3|$ 19202|32% ( 32 % )|$ 12953|25% ( 25 % )|
|a+/a1 to a-/a3|13940|24|12930|25|
|bbb+/baa1 to bbb-/baa3|19008|32|15220|30|
|bb+/ba1 to b-/b3|6384|11|6806|13|
|ccc+/caa1 and below|837|1|3415|7|
|total|$ 59371|100% ( 100 % )|$ 51324|100% ( 100 % )|
( a ) the prior period amounts have been revised to conform with the current period presentation. .
Question: what percent of the ratings profile of derivative receivables were junk rated in 2014?
Answer: | 12.0 |
FINQA4563 | Please answer the given financial question based on the context.
Context: during 2015 , 2014 and 2013 , netherland , sewell & associates , inc . ( "nsai" ) prepared a certification of the prior year's reserves for the alba field in e.g . the nsai summary reports are filed as an exhibit to this annual report on form 10-k . members of the nsai team have multiple years of industry experience , having worked for large , international oil and gas companies before joining nsai . the senior technical advisor has over 35 years of practical experience in petroleum geosciences , with over 15 years experience in the estimation and evaluation of reserves . the second team member has over 10 years of practical experience in petroleum engineering , with over five years experience in the estimation and evaluation of reserves . both are registered professional engineers in the state of texas . ryder scott company ( "ryder scott" ) also performed audits of the prior years' reserves of several of our fields in 2015 , 2014 and 2013 . their summary reports are filed as exhibits to this annual report on form 10-k . the team lead for ryder scott has over 20 years of industry experience , having worked for a major international oil and gas company before joining ryder scott . he is a member of spe , where he served on the oil and gas reserves committee , and is a registered professional engineer in the state of texas . changes in proved undeveloped reserves as of december 31 , 2015 , 603 mmboe of proved undeveloped reserves were reported , a decrease of 125 mmboe from december 31 , 2014 . the following table shows changes in total proved undeveloped reserves for 2015 : ( mmboe ) .
|beginning of year|728|
|revisions of previous estimates|-223 ( 223 )|
|improved recovery|1|
|purchases of reserves in place|1|
|extensions discoveries and other additions|175|
|dispositions|2014|
|transfers to proved developed|-79 ( 79 )|
|end of year|603|
the revisions to previous estimates were largely due to a result of reductions to our capital development program which deferred proved undeveloped reserves beyond the 5-year plan . a total of 139 mmboe was booked as extensions , discoveries or other additions and revisions due to the application of reliable technology . technologies included statistical analysis of production performance , decline curve analysis , pressure and rate transient analysis , reservoir simulation and volumetric analysis . the observed statistical nature of production performance coupled with highly certain reservoir continuity or quality within the reliable technology areas and sufficient proved developed locations establish the reasonable certainty criteria required for booking proved reserves . transfers from proved undeveloped to proved developed reserves included 47 mmboe in the eagle ford , 14 mmboe in the bakken and 5 mmboe in the oklahoma resource basins due to development drilling and completions . costs incurred in 2015 , 2014 and 2013 relating to the development of proved undeveloped reserves were $ 1415 million , $ 3149 million and $ 2536 million . projects can remain in proved undeveloped reserves for extended periods in certain situations such as large development projects which take more than five years to complete , or the timing of when additional gas compression is needed . of the 603 mmboe of proved undeveloped reserves at december 31 , 2015 , 26% ( 26 % ) of the volume is associated with projects that have been included in proved reserves for more than five years . the majority of this volume is related to a compression project in e.g . that was sanctioned by our board of directors in 2004 . during 2012 , the compression project received the approval of the e.g . government , fabrication of the new platform began in 2013 and installation of the platform at the alba field occurred in january 2016 . commissioning is currently underway , with first production expected by mid-2016 . proved undeveloped reserves for the north gialo development , located in the libyan sahara desert , were booked for the first time in 2010 . this development is being executed by the operator and encompasses a multi-year drilling program including the design , fabrication and installation of extensive liquid handling and gas recycling facilities . anecdotal evidence from similar development projects in the region leads to an expected project execution time frame of more than five years from the time the reserves were initially booked . interruptions associated with the civil and political unrest have also extended the project duration . operations were interrupted in mid-2013 as a result of the shutdown of the es sider crude oil terminal , and although temporarily re-opened during the second half of 2014 , production remains shut-in through early 2016 . the operator is committed to the project 2019s completion and continues to assign resources in order to execute the project . our conversion rate for proved undeveloped reserves to proved developed reserves for 2015 was 11% ( 11 % ) . however , excluding the aforementioned long-term projects in e.g . and libya , our 2015 conversion rate would be 15% ( 15 % ) . furthermore , our .
Question: how many of the year end 2015 proved undeveloped reserves were converted to proved developed reserves?
Answer: | 66.33 |
FINQA4564 | Please answer the given financial question based on the context.
Context: result of the effects of the costa concordia incident and the continued instability in the european eco- nomic landscape . however , we continue to believe in the long term growth potential of this market . we estimate that europe was served by 102 ships with approximately 108000 berths at the beginning of 2008 and by 117 ships with approximately 156000 berths at the end of 2012 . there are approximately 9 ships with an estimated 25000 berths that are expected to be placed in service in the european cruise market between 2013 and 2017 . the following table details the growth in the global , north american and european cruise markets in terms of cruise guests and estimated weighted-average berths over the past five years : global cruise guests ( 1 ) weighted-average supply of berths marketed globally ( 1 ) north american cruise guests ( 2 ) weighted-average supply of berths marketed in north america ( 1 ) european cruise guests weighted-average supply of berths marketed in europe ( 1 ) .
|year|global cruise guests ( 1 )|weighted-average supply of berths marketed globally ( 1 )|north american cruise guests ( 2 )|weighted-average supply of berths marketed in north america ( 1 )|european cruise guests|weighted-average supply of berths marketed in europe ( 1 )|
|2008|17184000|347000|10093000|219000|4500000|120000|
|2009|17340000|363000|10198000|222000|5000000|131000|
|2010|18800000|391000|10781000|232000|5540000|143000|
|2011|20227000|412000|11625000|245000|5894000|149000|
|2012|20823000|425000|12044000|254000|6040000|152000|
( 1 ) source : our estimates of the number of global cruise guests , and the weighted-average supply of berths marketed globally , in north america and europe are based on a combination of data that we obtain from various publicly available cruise industry trade information sources including seatrade insider and cruise line international association ( 201cclia 201d ) . in addition , our estimates incorporate our own statistical analysis utilizing the same publicly available cruise industry data as a base . ( 2 ) source : cruise line international association based on cruise guests carried for at least two consecutive nights for years 2008 through 2011 . year 2012 amounts represent our estimates ( see number 1 above ) . ( 3 ) source : clia europe , formerly european cruise council , for years 2008 through 2011 . year 2012 amounts represent our estimates ( see number 1 above ) . other markets in addition to expected industry growth in north america and europe as discussed above , we expect the asia/pacific region to demonstrate an even higher growth rate in the near term , although it will continue to represent a relatively small sector compared to north america and europe . competition we compete with a number of cruise lines . our princi- pal competitors are carnival corporation & plc , which owns , among others , aida cruises , carnival cruise lines , costa cruises , cunard line , holland america line , iberocruceros , p&o cruises and princess cruises ; disney cruise line ; msc cruises ; norwegian cruise line and oceania cruises . cruise lines compete with other vacation alternatives such as land-based resort hotels and sightseeing destinations for consumers 2019 leisure time . demand for such activities is influenced by political and general economic conditions . com- panies within the vacation market are dependent on consumer discretionary spending . operating strategies our principal operating strategies are to : 2022 protect the health , safety and security of our guests and employees and protect the environment in which our vessels and organization operate , 2022 strengthen and support our human capital in order to better serve our global guest base and grow our business , 2022 further strengthen our consumer engagement in order to enhance our revenues , 2022 increase the awareness and market penetration of our brands globally , 2022 focus on cost efficiency , manage our operating expenditures and ensure adequate cash and liquid- ity , with the overall goal of maximizing our return on invested capital and long-term shareholder value , 2022 strategically invest in our fleet through the revit ad alization of existing ships and the transfer of key innovations across each brand , while prudently expanding our fleet with the new state-of-the-art cruise ships recently delivered and on order , 2022 capitalize on the portability and flexibility of our ships by deploying them into those markets and itineraries that provide opportunities to optimize returns , while continuing our focus on existing key markets , 2022 further enhance our technological capabilities to service customer preferences and expectations in an innovative manner , while supporting our strategic focus on profitability , and part i 0494.indd 13 3/27/13 12:52 pm .
Question: what was the approximate increase of berths per ships for 2012 compared to 2008?
Answer: | 274.5098 |
FINQA4565 | Please answer the given financial question based on the context.
Context: entergy arkansas , inc . and subsidiaries management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities . results of operations net income 2011 compared to 2010 net income decreased $ 7.7 million primarily due to a higher effective income tax rate , lower other income , and higher other operation and maintenance expenses , substantially offset by higher net revenue , lower depreciation and amortization expenses , and lower interest expense . 2010 compared to 2009 net income increased $ 105.7 million primarily due to higher net revenue , a lower effective income tax rate , higher other income , and lower depreciation and amortization expenses , partially offset by higher other operation and maintenance expenses . net revenue 2011 compared to 2010 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) . following is an analysis of the change in net revenue comparing 2011 to 2010 . amount ( in millions ) .
||amount ( in millions )|
|2010 net revenue|$ 1216.7|
|retail electric price|31.0|
|ano decommissioning trust|26.4|
|transmission revenue|13.1|
|volume/weather|-15.9 ( 15.9 )|
|net wholesale revenue|-11.9 ( 11.9 )|
|capacity acquisition recovery|-10.3 ( 10.3 )|
|other|3.2|
|2011 net revenue|$ 1252.3|
the retail electric price variance is primarily due to a base rate increase effective july 2010 . see note 2 to the financial statements for more discussion of the rate case settlement . the ano decommissioning trust variance is primarily related to the deferral of investment gains from the ano 1 and 2 decommissioning trust in 2010 in accordance with regulatory treatment . the gains resulted in an increase in 2010 in interest and investment income and a corresponding increase in regulatory charges with no effect on net income. .
Question: what was the ratio of the net income increase in 2010 to the decrease in 2011
Answer: | 13.72727 |
FINQA4566 | Please answer the given financial question based on the context.
Context: whether or not any claims asserted against us or others to whom we may have indemnification obligations , whether in the proceedings or other matters described above or otherwise , will have a material adverse effect on our results of operations in any future reporting period , which will depend on , among other things , the amount of the loss resulting from the claim and the amount of income otherwise reported for the reporting period . see note 23 commitments and guarantees for additional information regarding the visa indemnification and our other obligations to provide indemnification , including to current and former officers , directors , employees and agents of pnc and companies we have acquired , including national city . note 23 commitments and guarantees equity funding and other commitments our unfunded commitments at december 31 , 2011 included private equity investments of $ 247 million , and other investments of $ 3 million . standby letters of credit we issue standby letters of credit and have risk participations in standby letters of credit and bankers 2019 acceptances issued by other financial institutions , in each case to support obligations of our customers to third parties , such as remarketing programs for customers 2019 variable rate demand notes . net outstanding standby letters of credit and internal credit ratings were as follows : net outstanding standby letters of credit dollars in billions december 31 december 31 .
|dollars in billions|december 31 2011|december 312010|
|net outstanding standby letters of credit|$ 10.8|$ 10.1|
|internal credit ratings ( as a percentage of portfolio ) :|||
|pass ( a )|94% ( 94 % )|90% ( 90 % )|
|below pass ( b )|6% ( 6 % )|10% ( 10 % )|
( a ) indicates that expected risk of loss is currently low . ( b ) indicates a higher degree of risk of default . if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon the request of the guaranteed party , we would be obligated to make payment to them . the standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances outstanding on december 31 , 2011 had terms ranging from less than 1 year to 7 years . the aggregate maximum amount of future payments pnc could be required to make under outstanding standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances was $ 14.4 billion at december 31 , 2011 , of which $ 7.4 billion support remarketing programs . as of december 31 , 2011 , assets of $ 2.0 billion secured certain specifically identified standby letters of credit . recourse provisions from third parties of $ 3.6 billion were also available for this purpose as of december 31 , 2011 . in addition , a portion of the remaining standby letters of credit and letter of credit risk participations issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us . the carrying amount of the liability for our obligations related to standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances was $ 247 million at december 31 , 2011 . standby bond purchase agreements and other liquidity facilities we enter into standby bond purchase agreements to support municipal bond obligations . at december 31 , 2011 , the aggregate of our commitments under these facilities was $ 543 million . we also enter into certain other liquidity facilities to support individual pools of receivables acquired by commercial paper conduits . at december 31 , 2011 , our total commitments under these facilities were $ 199 million . indemnifications we are a party to numerous acquisition or divestiture agreements under which we have purchased or sold , or agreed to purchase or sell , various types of assets . these agreements can cover the purchase or sale of : 2022 entire businesses , 2022 loan portfolios , 2022 branch banks , 2022 partial interests in companies , or 2022 other types of assets . these agreements generally include indemnification provisions under which we indemnify the third parties to these agreements against a variety of risks to the indemnified parties as a result of the transaction in question . when pnc is the seller , the indemnification provisions will generally also provide the buyer with protection relating to the quality of the assets we are selling and the extent of any liabilities being assumed by the buyer . due to the nature of these indemnification provisions , we cannot quantify the total potential exposure to us resulting from them . we provide indemnification in connection with securities offering transactions in which we are involved . when we are the issuer of the securities , we provide indemnification to the underwriters or placement agents analogous to the indemnification provided to the purchasers of businesses from us , as described above . when we are an underwriter or placement agent , we provide a limited indemnification to the issuer related to our actions in connection with the offering and , if there are other underwriters , indemnification to the other underwriters intended to result in an appropriate sharing of the risk of participating in the offering . due to the nature of these indemnification provisions , we cannot quantify the total potential exposure to us resulting from them . in the ordinary course of business , we enter into certain types of agreements that include provisions for indemnifying third the pnc financial services group , inc . 2013 form 10-k 197 .
Question: what is the total unfunded commitments at december 31 , 2011 including private equity investments and other investments , in millions?
Answer: | 250.0 |
FINQA4567 | Please answer the given financial question based on the context.
Context: note 8 . acquisitions during fiscal 2017 , cadence completed two business combinations for total cash consideration of $ 142.8 million , after taking into account cash acquired of $ 4.2 million . the total purchase consideration was allocated to the assets acquired and liabilities assumed based on their respective estimated fair values on the acquisition dates . cadence recorded a total of $ 76.4 million of acquired intangible assets ( of which $ 71.5 million represents in-process technology ) , $ 90.2 million of goodwill and $ 19.6 million of net liabilities consisting primarily of deferred tax liabilities . cadence will also make payments to certain employees , subject to continued employment and other performance-based conditions , through the fourth quarter of fiscal 2020 . during fiscal 2016 , cadence completed two business combinations for total cash consideration of $ 42.4 million , after taking into account cash acquired of $ 1.8 million . the total purchase consideration was allocated to the assets acquired and liabilities assumed based on their respective estimated fair values on the acquisition dates . cadence recorded a total of $ 23.6 million of goodwill , $ 23.2 million of acquired intangible assets and $ 2.6 million of net liabilities consisting primarily of deferred revenue . cadence will also make payments to certain employees , subject to continued employment and other conditions , through the second quarter of fiscal a trust for the benefit of the children of lip-bu tan , cadence 2019s chief executive officer ( 201cceo 201d ) and director , owned less than 3% ( 3 % ) of nusemi inc , one of the companies acquired in 2017 , and less than 2% ( 2 % ) of rocketick technologies ltd. , one of the companies acquired in 2016 . mr . tan and his wife serve as co-trustees of the trust and disclaim pecuniary and economic interest in the trust . the board of directors of cadence reviewed the transactions and concluded that it was in the best interests of cadence to proceed with the transactions . mr . tan recused himself from the board of directors 2019 discussion of the valuation of nusemi inc and rocketick technologies ltd . and on whether to proceed with the transactions . acquisition-related transaction costs there were no direct transaction costs associated with acquisitions during fiscal 2018 . transaction costs associated with acquisitions were $ 0.6 million and $ 1.1 million during fiscal 2017 and 2016 , respectively . these costs consist of professional fees and administrative costs and were expensed as incurred in cadence 2019s consolidated income statements . note 9 . goodwill and acquired intangibles goodwill the changes in the carrying amount of goodwill during fiscal 2018 and 2017 were as follows : gross carrying amount ( in thousands ) .
||gross carryingamount ( in thousands )|
|balance as of december 31 2016|$ 572764|
|goodwill resulting from acquisitions|90218|
|effect of foreign currency translation|3027|
|balance as of december 30 2017|666009|
|effect of foreign currency translation|-3737 ( 3737 )|
|balance as of december 29 2018|$ 662272|
cadence completed its annual goodwill impairment test during the third quarter of fiscal 2018 and determined that the fair value of cadence 2019s single reporting unit substantially exceeded the carrying amount of its net assets and that no impairment existed. .
Question: for acquisitions in 2017 what percentage of recorded a total acquired intangible assets was goodwill?
Answer: | 0.84701 |
FINQA4568 | 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 89% ( 89 % ) as of december 31 , 2016 and 2015 , 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|
|2016|$ -26.3 ( 26.3 )|$ 26.9|
|2015|-33.7 ( 33.7 )|34.7|
we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates . we do not have any interest rate swaps outstanding as of december 31 , 2016 . we had $ 1100.6 of cash , cash equivalents and marketable securities as of december 31 , 2016 that we generally invest in conservative , short-term bank deposits or securities . the interest income generated from these investments is subject to both domestic and foreign interest rate movements . during 2016 and 2015 , we had interest income of $ 20.1 and $ 22.8 , respectively . based on our 2016 results , a 100 basis-point increase or decrease in interest rates would affect our interest income by approximately $ 11.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2016 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 foreign currencies that most impacted our results during 2016 included the british pound sterling and , to a lesser extent , the argentine peso , brazilian real and japanese yen . based on 2016 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 approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2016 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 regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures . we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .
Question: what is the statistical interval for 2017's interest income using 2016's interest income as a midpoint?
Answer: | 9.1 |
FINQA4569 | Please answer the given financial question based on the context.
Context: note 10 loan sales and securitizations loan sales we sell residential and commercial mortgage loans in loan securitization transactions sponsored by government national mortgage association ( gnma ) , fnma , and fhlmc and in certain instances to other third-party investors . gnma , fnma , and the fhlmc securitize our transferred loans into mortgage-backed securities for sale into the secondary market . generally , we do not retain any interest in the transferred loans other than mortgage servicing rights . refer to note 9 goodwill and other intangible assets for further discussion on our residential and commercial mortgage servicing rights assets . during 2009 , residential and commercial mortgage loans sold totaled $ 19.8 billion and $ 5.7 billion , respectively . during 2008 , commercial mortgage loans sold totaled $ 3.1 billion . there were no residential mortgage loans sales in 2008 as these activities were obtained through our acquisition of national city . our continuing involvement in these loan sales consists primarily of servicing and limited repurchase obligations for loan and servicer breaches in representations and warranties . generally , we hold a cleanup call repurchase option for loans sold with servicing retained to the other third-party investors . in certain circumstances as servicer , we advance principal and interest payments to the gses and other third-party investors and also may make collateral protection advances . our risk of loss in these servicing advances has historically been minimal . we maintain a liability for estimated losses on loans expected to be repurchased as a result of breaches in loan and servicer representations and warranties . we have also entered into recourse arrangements associated with commercial mortgage loans sold to fnma and fhlmc . refer to note 25 commitments and guarantees for further discussion on our repurchase liability and recourse arrangements . our maximum exposure to loss in our loan sale activities is limited to these repurchase and recourse obligations . in addition , for certain loans transferred in the gnma and fnma transactions , we hold an option to repurchase individual delinquent loans that meet certain criteria . without prior authorization from these gses , this option gives pnc the ability to repurchase the delinquent loan at par . under gaap , once we have the unilateral ability to repurchase the delinquent loan , effective control over the loan has been regained and we are required to recognize the loan and a corresponding repurchase liability on the balance sheet regardless of our intent to repurchase the loan . at december 31 , 2009 and december 31 , 2008 , the balance of our repurchase option asset and liability totaled $ 577 million and $ 476 million , respectively . securitizations in securitizations , loans are typically transferred to a qualifying special purpose entity ( qspe ) that is demonstrably distinct from the transferor to transfer the risk from our consolidated balance sheet . a qspe is a bankruptcy-remote trust allowed to perform only certain passive activities . in addition , these entities are self-liquidating and in certain instances are structured as real estate mortgage investment conduits ( remics ) for tax purposes . the qspes are generally financed by issuing certificates for various levels of senior and subordinated tranches . qspes are exempt from consolidation provided certain conditions are met . our securitization activities were primarily obtained through our acquisition of national city . credit card receivables , automobile , and residential mortgage loans were securitized through qspes sponsored by ncb . these qspes were financed primarily through the issuance and sale of beneficial interests to independent third parties and were not consolidated on our balance sheet at december 31 , 2009 or december 31 , 2008 . however , see note 1 accounting policies regarding accounting guidance that impacts the accounting for these qspes effective january 1 , 2010 . qualitative and quantitative information about the securitization qspes and our retained interests in these transactions follow . the following summarizes the assets and liabilities of the securitization qspes associated with securitization transactions that were outstanding at december 31 , 2009. .
|in millions|december 31 2009 credit card|december 31 2009 mortgage|december 31 2009 credit card|mortgage|
|assets ( a )|$ 2368|$ 232|$ 2129|$ 319|
|liabilities|1622|232|1824|319|
( a ) represents period-end outstanding principal balances of loans transferred to the securitization qspes . credit card loans at december 31 , 2009 , the credit card securitization series 2005-1 , 2006-1 , 2007-1 , and 2008-3 were outstanding . during the fourth quarter of 2009 , the 2008-1 and 2008-2 credit card securitization series matured . our continuing involvement in the securitized credit card receivables consists primarily of servicing and our holding of certain retained interests . servicing fees earned approximate current market rates for servicing fees ; therefore , no servicing asset or liability is recognized . we hold a clean-up call repurchase option to the extent a securitization series extends past its scheduled note principal payoff date . to the extent this occurs , the clean-up call option is triggered when the principal balance of the asset- backed notes of any series reaches 5% ( 5 % ) of the initial principal balance of the asset-backed notes issued at the securitization .
Question: in 2009 what was the percentage of the total loans sold that was from commercial mortagages
Answer: | 0.22353 |
FINQA4570 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have guaranteed certain obligations of our subsidiaries relating principally to operating leases and uncommitted lines of credit of certain subsidiaries . as of december 31 , 2018 and 2017 , the amount of parent company guarantees on lease obligations was $ 824.5 and $ 829.2 , respectively , the amount of parent company guarantees primarily relating to uncommitted lines of credit was $ 349.1 and $ 308.8 , respectively , and the amount of parent company guarantees related to daylight overdrafts , primarily utilized to manage intra-day overdrafts due to timing of transactions under cash pooling arrangements without resulting in incremental borrowings , was $ 207.8 and $ 182.2 , respectively . in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee . as of december 31 , 2018 , there were no material assets pledged as security for such parent company guarantees . contingent acquisition obligations the following table details the estimated future contingent acquisition obligations payable in cash as of december 31 .
||2019|2020|2021|2022|2023|thereafter|total|
|deferred acquisition payments|$ 65.7|$ 20.0|$ 23.6|$ 4.7|$ 10.2|$ 2.7|$ 126.9|
|redeemable noncontrolling interests and call options with affiliates1|30.1|30.6|42.9|5.7|3.5|2.5|115.3|
|total contingent acquisition payments|$ 95.8|$ 50.6|$ 66.5|$ 10.4|$ 13.7|$ 5.2|$ 242.2|
1 we have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions . the estimated amounts listed would be paid in the event of exercise at the earliest exercise date . we have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of december 31 , 2018 . these estimated payments of $ 24.9 are included within the total payments expected to be made in 2019 , and will continue to be carried forward into 2020 or beyond until exercised or expired . redeemable noncontrolling interests are included in the table at current exercise price payable in cash , not at applicable redemption value , in accordance with the authoritative guidance for classification and measurement of redeemable securities . the majority of these payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revision in accordance with the terms of the respective agreements . see note 5 for further information relating to the payment structure of our acquisitions . legal matters we are involved in various legal proceedings , and subject to investigations , inspections , audits , inquiries and similar actions by governmental authorities arising in the normal course of business . the types of allegations that arise in connection with such legal proceedings vary in nature , but can include claims related to contract , employment , tax and intellectual property matters . we evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount , or potential range , of loss can be reasonably estimated . in certain cases , we cannot reasonably estimate the potential loss because , for example , the litigation is in its early stages . while any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty , management believes that the outcome of these matters , individually and in the aggregate , will not have a material adverse effect on our financial condition , results of operations or cash flows . as previously disclosed , on april 10 , 2015 , a federal judge in brazil authorized the search of the records of an agency 2019s offices in s e3o paulo and brasilia , in connection with an ongoing investigation by brazilian authorities involving payments potentially connected to local government contracts . the company had previously investigated the matter and taken a number of remedial and disciplinary actions . the company has been in the process of concluding a settlement related to these matters with government agencies , and that settlement was fully executed in april 2018 . the company has previously provided for such settlement in its consolidated financial statements. .
Question: what percentage of the total deferred acquisition payments were made in 2019?
Answer: | 51.77305 |
FINQA4571 | Please answer the given financial question based on the context.
Context: part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our common stock on the nyse for the years 2015 and 2014. .
|2015|high|low|
|quarter ended march 31|$ 101.88|$ 93.21|
|quarter ended june 30|98.64|91.99|
|quarter ended september 30|101.54|86.83|
|quarter ended december 31|104.12|87.23|
|2014|high|low|
|quarter ended march 31|$ 84.90|$ 78.38|
|quarter ended june 30|90.73|80.10|
|quarter ended september 30|99.90|89.05|
|quarter ended december 31|106.31|90.20|
on february 19 , 2016 , the closing price of our common stock was $ 87.32 per share as reported on the nyse . as of february 19 , 2016 , we had 423897556 outstanding shares of common stock and 159 registered holders . dividends as a reit , we must annually distribute to our stockholders an amount equal to at least 90% ( 90 % ) of our reit taxable income ( determined before the deduction for distributed earnings and excluding any net capital gain ) . generally , we have distributed and expect to continue to distribute all or substantially all of our reit taxable income after taking into consideration our utilization of net operating losses ( 201cnols 201d ) . we have two series of preferred stock outstanding , 5.25% ( 5.25 % ) mandatory convertible preferred stock , series a , issued in may 2014 ( the 201cseries a preferred stock 201d ) , with a dividend rate of 5.25% ( 5.25 % ) , and the 5.50% ( 5.50 % ) mandatory convertible preferred stock , series b ( the 201cseries b preferred stock 201d ) , issued in march 2015 , with a dividend rate of 5.50% ( 5.50 % ) . dividends are payable quarterly in arrears , subject to declaration by our board of directors . the amount , timing and frequency of future distributions will be at the sole discretion of our board of directors and will be dependent upon various factors , a number of which may be beyond our control , including our financial condition and operating cash flows , the amount required to maintain our qualification for taxation as a reit and reduce any income and excise taxes that we otherwise would be required to pay , limitations on distributions in our existing and future debt and preferred equity instruments , our ability to utilize nols to offset our distribution requirements , limitations on our ability to fund distributions using cash generated through our trss and other factors that our board of directors may deem relevant . we have distributed an aggregate of approximately $ 2.3 billion to our common stockholders , including the dividend paid in january 2016 , primarily subject to taxation as ordinary income . during the year ended december 31 , 2015 , we declared the following cash distributions: .
Question: for the= quarter ended march 31 what was the percent of the change in the stock price from the highest to the lowest
Answer: | 0.09302 |
FINQA4572 | Please answer the given financial question based on the context.
Context: table of contents the following performance graph is not 201csoliciting material , 201d is not deemed filed with the sec , and is not to be incorporated by reference into any of valero 2019s filings under the securities act of 1933 or the securities exchange act of 1934 , as amended , respectively . this performance graph and the related textual information are based on historical data and are not indicative of future performance . the following line graph compares the cumulative total return 1 on an investment in our common stock against the cumulative total return of the s&p 500 composite index and an index of peer companies ( that we selected ) for the five-year period commencing december 31 , 2008 and ending december 31 , 2013 . our peer group comprises the following 11 companies : alon usa energy , inc. ; bp plc ; cvr energy , inc. ; delek us holdings , inc . ( dk ) ; hollyfrontier corporation ; marathon petroleum corporation ; pbf energy inc . ( pbf ) ; phillips 66 ; royal dutch shell plc ; tesoro corporation ; and western refining , inc . our peer group previously included hess corporation , but it has exited the refining business , and was replaced in our peer group by dk and pbf who are also engaged in refining operations . comparison of 5 year cumulative total return1 among valero energy corporation , the s&p 500 index , old peer group , and new peer group .
||12/2008|12/2009|12/2010|12/2011|12/2012|12/2013|
|valero common stock|$ 100.00|$ 79.77|$ 111.31|$ 102.57|$ 170.45|$ 281.24|
|s&p 500|100.00|126.46|145.51|148.59|172.37|228.19|
|old peer group|100.00|126.98|122.17|127.90|138.09|170.45|
|new peer group|100.00|127.95|120.42|129.69|136.92|166.57|
____________ 1 assumes that an investment in valero common stock and each index was $ 100 on december 31 , 2008 . 201ccumulative total return 201d is based on share price appreciation plus reinvestment of dividends from december 31 , 2008 through december 31 , 2013. .
Question: what was the percentage growth of the valero common stock from 2009 to 2011
Answer: | 0.39539 |
FINQA4573 | Please answer the given financial question based on the context.
Context: part iii item 10 . directors and executive officers of the registrant . pursuant to section 406 of the sarbanes-oxley act of 2002 , we have adopted a code of ethics for senior financial officers that applies to our principal executive officer and principal financial officer , principal accounting officer and controller , and other persons performing similar functions . our code of ethics for senior financial officers is publicly available on our website at www.hologic.com . we intend to satisfy the disclosure requirement under item 5.05 of current report on form 8-k regarding an amendment to , or waiver from , a provision of this code by posting such information on our website , at the address specified above . the additional information required by this item is incorporated by reference to our definitive proxy statement for our annual meeting of stockholders to be filed with the securities and exchange commission within 120 days after the close of our fiscal year . item 11 . executive compensation . the information required by this item is incorporated by reference to our definitive proxy statement for our annual meeting of stockholders to be filed with the securities and exchange commission within 120 days after the close of our fiscal year . item 12 . security ownership of certain beneficial owners and management and related stockholder matters . we maintain a number of equity compensation plans for employees , officers , directors and others whose efforts contribute to our success . the table below sets forth certain information as our fiscal year ended september 24 , 2005 regarding the shares of our common stock available for grant or granted under stock option plans that ( i ) were approved by our stockholders , and ( ii ) were not approved by our stockholders . the number of securities and the exercise price of the outstanding securities have been adjusted to reflect our two-for-one stock split effected on november 30 , 2005 . equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3841008 $ 7.84 1016520 equity compensation plans not approved by security holders ( 2 ) . . . . . . . . . . . . . . . . . . . . . . 863604 $ 6.44 0 .
|plan category|number of securities to be issued upon exerciseof outstanding options warrants and rights ( a )|weighted-average exercise price of outstanding options warrants and rights ( b )|number of securities remaining available for future issuance under equitycompensation plans ( excluding securities reflected in column ( a ) ) ( c )|
|equity compensation plans approved by security holders ( 1 )|3841008|$ 7.84|1016520|
|equity compensation plans not approved by security holders ( 2 )|863604|$ 6.44|0|
|total|4704612|$ 7.58|1016520|
( 1 ) includes the following plans : 1986 combination stock option plan ; amended and restated 1990 non-employee director stock option plan ; 1995 combination stock option plan ; amended and restated 1999 equity incentive plan ; and 2000 employee stock purchase plan . also includes the following plans which we assumed in connection with our acquisition of fluoroscan imaging systems in 1996 : fluoroscan imaging systems , inc . 1994 amended and restated stock incentive plan and fluoroscan imaging systems , inc . 1995 stock incentive plan . for a description of these plans , please refer to footnote 5 contained in our consolidated financial statements. .
Question: what portion of the total number of issues securities is not approved by security holders?
Answer: | 0.18357 |
FINQA4574 | Please answer the given financial question based on the context.
Context: aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support , and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles , and related technologies . aeronautics 2019 major programs include the f-35 lightning ii joint strike fighter , c-130 hercules , f-16 fighting falcon , f-22 raptor , and the c-5m super galaxy . aeronautics 2019 operating results included the following ( in millions ) : .
||2013|2012|2011|
|net sales|$ 14123|$ 14953|$ 14362|
|operating profit|1612|1699|1630|
|operating margins|11.4% ( 11.4 % )|11.4% ( 11.4 % )|11.3% ( 11.3 % )|
|backlog at year-end|28000|30100|30500|
2013 compared to 2012 aeronautics 2019 net sales for 2013 decreased $ 830 million , or 6% ( 6 % ) , compared to 2012 . the decrease was primarily attributable to lower net sales of approximately $ 530 million for the f-16 program due to fewer aircraft deliveries ( 13 aircraft delivered in 2013 compared to 37 delivered in 2012 ) partially offset by aircraft configuration mix ; about $ 385 million for the c-130 program due to fewer aircraft deliveries ( 25 aircraft delivered in 2013 compared to 34 in 2012 ) partially offset by increased sustainment activities ; approximately $ 255 million for the f-22 program , which includes about $ 205 million due to decreased production volume as final aircraft deliveries were completed during the second quarter of 2012 and $ 50 million from the favorable resolution of a contractual matter during the second quarter of 2012 ; and about $ 270 million for various other programs ( primarily sustainment activities ) due to decreased volume . the decreases were partially offset by higher net sales of about $ 295 million for f-35 production contracts due to increased production volume and risk retirements ; approximately $ 245 million for the c-5 program due to increased aircraft deliveries ( six aircraft delivered in 2013 compared to four in 2012 ) and other modernization activities ; and about $ 70 million for the f-35 development contract due to increased volume . aeronautics 2019 operating profit for 2013 decreased $ 87 million , or 5% ( 5 % ) , compared to 2012 . the decrease was primarily attributable to lower operating profit of about $ 85 million for the f-22 program , which includes approximately $ 50 million from the favorable resolution of a contractual matter in the second quarter of 2012 and about $ 35 million due to decreased risk retirements and production volume ; approximately $ 70 million for the c-130 program due to lower risk retirements and fewer deliveries partially offset by increased sustainment activities ; about $ 65 million for the c-5 program due to the inception-to-date effect of reducing the profit booking rate in the third quarter of 2013 and lower risk retirements ; approximately $ 35 million for the f-16 program due to fewer aircraft deliveries partially offset by increased sustainment activity and aircraft configuration mix . the decreases were partially offset by higher operating profit of approximately $ 180 million for f-35 production contracts due to increased risk retirements and volume . operating profit was comparable for the f-35 development contract and included adjustments of approximately $ 85 million to reflect the inception-to-date impacts of the downward revisions to the profit booking rate in both 2013 and 2012 . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 75 million lower for 2013 compared to 2012 compared to 2011 aeronautics 2019 net sales for 2012 increased $ 591 million , or 4% ( 4 % ) , compared to 2011 . the increase was attributable to higher net sales of approximately $ 745 million from f-35 production contracts principally due to increased production volume ; about $ 285 million from f-16 programs primarily due to higher aircraft deliveries ( 37 f-16 aircraft delivered in 2012 compared to 22 in 2011 ) partially offset by lower volume on sustainment activities due to the completion of modification programs for certain international customers ; and approximately $ 140 million from c-5 programs due to higher aircraft deliveries ( four c-5m aircraft delivered in 2012 compared to two in 2011 ) . partially offsetting the increases were lower net sales of approximately $ 365 million from decreased production volume and lower risk retirements on the f-22 program as final aircraft deliveries were completed in the second quarter of 2012 ; approximately $ 110 million from the f-35 development contract primarily due to the inception-to-date effect of reducing the profit booking rate in the second quarter of 2012 and to a lesser extent lower volume ; and about $ 95 million from a decrease in volume on other sustainment activities partially offset by various other aeronautics programs due to higher volume . net sales for c-130 programs were comparable to 2011 as a decline in sustainment activities largely was offset by increased aircraft deliveries. .
Question: what was the average net sales in millions for aeronautics from 2001 to 2013?
Answer: | 14479.33333 |
FINQA4575 | 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 was the ratio of the company 2019s contribution expense related to all of its defined contribution plans for 2009 to 2008
Answer: | 1.14957 |
FINQA4576 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) sales of businesses and investments 2013 primarily includes realized gains and losses relating to the sales of businesses , cumulative translation adjustment balances from the liquidation of entities and sales of marketable securities and investments in publicly traded and privately held companies in our rabbi trusts . during 2009 , we realized a gain of $ 15.2 related to the sale of an investment in our rabbi trusts , which was partially offset by losses realized from the sale of various businesses . losses in 2007 primarily related to the sale of several businesses within draftfcb for a loss of $ 9.3 and charges at lowe of $ 7.8 as a result of the realization of cumulative translation adjustment balances from the liquidation of several businesses . vendor discounts and credit adjustments 2013 we are in the process of settling our liabilities related to vendor discounts and credits established during the restatement we presented in our 2004 annual report on form 10-k . these adjustments reflect the reversal of certain of these liabilities as a result of settlements with clients or vendors or where the statute of limitations has lapsed . litigation settlement 2013 during may 2008 , the sec concluded its investigation that began in 2002 into our financial reporting practices , resulting in a settlement charge of $ 12.0 . investment impairments 2013 in 2007 we realized an other-than-temporary charge of $ 5.8 relating to a $ 12.5 investment in auction rate securities , representing our total investment in auction rate securities . see note 12 for further information . note 5 : intangible assets goodwill goodwill is the excess purchase price remaining from an acquisition after an allocation of purchase price has been made to identifiable assets acquired and liabilities assumed based on estimated fair values . the changes in the carrying value of goodwill for our segments , integrated agency networks ( 201cian 201d ) and constituency management group ( 201ccmg 201d ) , for the years ended december 31 , 2009 and 2008 are listed below. .
||ian|cmg|total 1|
|balance as of december 31 2007|$ 2789.7|$ 441.9|$ 3231.6|
|current year acquisitions|99.5|1.8|101.3|
|contingent and deferred payments for prior acquisitions|28.9|1.1|30.0|
|other ( primarily foreign currency translation )|-128.1 ( 128.1 )|-13.9 ( 13.9 )|-142.0 ( 142.0 )|
|balance as of december 31 2008|$ 2790.0|$ 430.9|$ 3220.9|
|current year acquisitions2|5.2|2014|5.2|
|contingent and deferred payments for prior acquisitions|14.2|2014|14.2|
|other ( primarily foreign currency translation )|76.2|4.5|80.7|
|balance as of december 31 2009|$ 2885.6|$ 435.4|$ 3321.0|
1 for all periods presented we have not recorded a goodwill impairment charge . 2 for acquisitions completed after january 1 , 2009 , amount includes contingent and deferred payments , which are recorded at fair value on the acquisition date . see note 6 for further information . see note 1 for further information regarding our annual impairment methodology . other intangible assets included in other intangible assets are assets with indefinite lives not subject to amortization and assets with definite lives subject to amortization . other intangible assets primarily include customer lists and trade names . intangible assets with definitive lives subject to amortization are amortized on a straight-line basis with estimated useful lives generally between 7 and 15 years . amortization expense for other intangible assets for the years ended december 31 , 2009 , 2008 and 2007 was $ 19.3 , $ 14.4 and $ 8.5 , respectively . the following table provides a summary of other intangible assets , which are included in other assets on our consolidated balance sheets. .
Question: what was the percentage change in the carrying value of goodwill for integrated agency networks from 2008 to 2009
Answer: | 0.03427 |
FINQA4577 | Please answer the given financial question based on the context.
Context: echostar communications corporation notes to consolidated financial statements - continued closing price of the class a common stock on the last business day of each calendar quarter in which such shares of class a common stock are deemed sold to an employee under the espp . the espp shall terminate upon the first to occur of ( i ) october 1 , 2007 or ( ii ) the date on which the espp is terminated by the board of directors . during 2000 , 2001 and 2002 employees purchased approximately 58000 ; 80000 and 108000 shares of class a common stock through the espp , respectively . 401 ( k ) employee savings plan echostar sponsors a 401 ( k ) employee savings plan ( the 201c401 ( k ) plan 201d ) for eligible employees . voluntary employee contributions to the 401 ( k ) plan may be matched 50% ( 50 % ) by echostar , subject to a maximum annual contribution by echostar of $ 1000 per employee . matching 401 ( k ) contributions totaled approximately $ 1.6 million , $ 2.1 million and $ 2.4 million during the years ended december 31 , 2000 , 2001 and 2002 , respectively . echostar also may make an annual discretionary contribution to the plan with approval by echostar 2019s board of directors , subject to the maximum deductible limit provided by the internal revenue code of 1986 , as amended . these contributions may be made in cash or in echostar stock . forfeitures of unvested participant balances which are retained by the 401 ( k ) plan may be used to fund matching and discretionary contributions . expense recognized relating to discretionary contributions was approximately $ 7 million , $ 225 thousand and $ 17 million during the years ended december 31 , 2000 , 2001 and 2002 , respectively . 9 . commitments and contingencies leases future minimum lease payments under noncancelable operating leases as of december 31 , 2002 , are as follows ( in thousands ) : year ending december 31 .
|2003|$ 17274|
|2004|14424|
|2005|11285|
|2006|7698|
|2007|3668|
|thereafter|1650|
|total minimum lease payments|55999|
total rent expense for operating leases approximated $ 9 million , $ 14 million and $ 16 million in 2000 , 2001 and 2002 , respectively . purchase commitments as of december 31 , 2002 , echostar 2019s purchase commitments totaled approximately $ 359 million . the majority of these commitments relate to echostar receiver systems and related components . all of the purchases related to these commitments are expected to be made during 2003 . echostar expects to finance these purchases from existing unrestricted cash balances and future cash flows generated from operations . patents and intellectual property many entities , including some of echostar 2019s competitors , now have and may in the future obtain patents and other intellectual property rights that cover or affect products or services directly or indirectly related to those that echostar offers . echostar may not be aware of all patents and other intellectual property rights that its products may potentially infringe . damages in patent infringement cases can include a tripling of actual damages in certain cases . further , echostar cannot estimate the extent to which it may be required in the future to obtain licenses with respect to .
Question: what is the expected growth rate in rent expense for operating leases in 2003?
Answer: | 0.07963 |
FINQA4578 | Please answer the given financial question based on the context.
Context: the hartford financial services group , inc . notes to consolidated financial statements ( continued ) 5 . investments and derivative instruments ( continued ) collateral arrangements the company enters into various collateral arrangements in connection with its derivative instruments , which require both the pledging and accepting of collateral . as of december 31 , 2011 and 2010 , collateral pledged having a fair value of $ 1.1 billion and $ 790 , respectively , was included in fixed maturities , afs , in the consolidated balance sheets . from time to time , the company enters into secured borrowing arrangements as a means to increase net investment income . the company received cash collateral of $ 33 as of december 31 , 2011 and 2010 . the following table presents the classification and carrying amount of loaned securities and derivative instruments collateral pledged. .
||december 31 2011|december 31 2010|
|fixed maturities afs|$ 1086|$ 823|
|short-term investments|199|2014|
|total collateral pledged|$ 1285|$ 823|
as of december 31 , 2011 and 2010 , the company had accepted collateral with a fair value of $ 2.6 billion and $ 1.5 billion , respectively , of which $ 2.0 billion and $ 1.1 billion , respectively , was cash collateral which was invested and recorded in the consolidated balance sheets in fixed maturities and short-term investments with corresponding amounts recorded in other assets and other liabilities . the company is only permitted by contract to sell or repledge the noncash collateral in the event of a default by the counterparty . as of december 31 , 2011 and 2010 , noncash collateral accepted was held in separate custodial accounts and was not included in the company 2019s consolidated balance sheets . securities on deposit with states the company is required by law to deposit securities with government agencies in states where it conducts business . as of december 31 , 2011 and 2010 , the fair value of securities on deposit was approximately $ 1.6 billion and $ 1.4 billion , respectively. .
Question: what was the ratio of the collateral pledged in 2011 to 2010
Answer: | 0.00139 |
FINQA4579 | Please answer the given financial question based on the context.
Context: the impairment tests performed for intangible assets as of july 31 , 2013 , 2012 and 2011 indicated no impairment charges were required . estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows : ( in millions ) .
|year|amount|
|2014|$ 156|
|2015|126|
|2016|91|
|2017|74|
|2018|24|
indefinite-lived acquired management contracts in july 2013 , in connection with the credit suisse etf transaction , the company acquired $ 231 million of indefinite-lived management contracts . in march 2012 , in connection with the claymore transaction , the company acquired $ 163 million of indefinite-lived etp management contracts . finite-lived acquired management contracts in october 2013 , in connection with the mgpa transaction , the company acquired $ 29 million of finite-lived management contracts with a weighted-average estimated useful life of approximately eight years . in september 2012 , in connection with the srpep transaction , the company acquired $ 40 million of finite- lived management contracts with a weighted-average estimated useful life of approximately 10 years . 11 . other assets at march 31 , 2013 , blackrock held an approximately one- third economic equity interest in private national mortgage acceptance company , llc ( 201cpnmac 201d ) , which is accounted for as an equity method investment and is included in other assets on the consolidated statements of financial condition . on may 8 , 2013 , pennymac became the sole managing member of pnmac in connection with an initial public offering of pennymac ( the 201cpennymac ipo 201d ) . as a result of the pennymac ipo , blackrock recorded a noncash , nonoperating pre-tax gain of $ 39 million related to the carrying value of its equity method investment . subsequent to the pennymac ipo , the company contributed 6.1 million units of its investment to a new donor advised fund ( the 201ccharitable contribution 201d ) . the fair value of the charitable contribution was $ 124 million and is included in general and administration expenses on the consolidated statements of income . in connection with the charitable contribution , the company also recorded a noncash , nonoperating pre-tax gain of $ 80 million related to the contributed investment and a tax benefit of approximately $ 48 million . the carrying value and fair value of the company 2019s remaining interest ( approximately 20% ( 20 % ) or 16 million shares and units ) was approximately $ 127 million and $ 273 million , respectively , at december 31 , 2013 . the fair value of the company 2019s interest reflected the pennymac stock price at december 31 , 2013 ( level 1 input ) . 12 . borrowings short-term borrowings the carrying value of short-term borrowings at december 31 , 2012 included $ 100 million under the 2012 revolving credit facility . 2013 revolving credit facility . in march 2011 , the company entered into a five-year $ 3.5 billion unsecured revolving credit facility ( the 201c2011 credit facility 201d ) . in march 2012 , the 2011 credit facility was amended to extend the maturity date by one year to march 2017 and in april 2012 the amount of the aggregate commitment was increased to $ 3.785 billion ( the 201c2012 credit facility 201d ) . in march 2013 , the company 2019s credit facility was amended to extend the maturity date by one year to march 2018 and the amount of the aggregate commitment was increased to $ 3.990 billion ( the 201c2013 credit facility 201d ) . the 2013 credit facility permits the company to request up to an additional $ 1.0 billion of borrowing capacity , subject to lender credit approval , increasing the overall size of the 2013 credit facility to an aggregate principal amount not to exceed $ 4.990 billion . interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread . the 2013 credit facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortization , where net debt equals total debt less unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2013 . the 2013 credit facility provides back- up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities . at december 31 , 2013 , the company had no amount outstanding under the 2013 credit facility . commercial paper program . on october 14 , 2009 , blackrock established a commercial paper program ( the 201ccp program 201d ) under which the company could issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 3.0 billion . on may 13 , 2011 , blackrock increased the maximum aggregate amount that may be borrowed under the cp program to $ 3.5 billion . on may 17 , 2012 , blackrock increased the maximum aggregate amount to $ 3.785 billion . in april 2013 , blackrock increased the maximum aggregate amount for which the company could issue unsecured cp notes on a private-placement basis up to a maximum aggregate amount outstanding at any time of $ 3.990 billion . the commercial paper program is currently supported by the 2013 credit facility . at december 31 , 2013 and 2012 , blackrock had no cp notes outstanding. .
Question: what is the percent change in estimated amortization expense for finite-lived intangible assets from 2014 to 2015?
Answer: | 0.2381 |
FINQA4580 | Please answer the given financial question based on the context.
Context: as of december 31 , 2014 and 2013 , our liabilities associated with unrecognized tax benefits are not material . we and our subsidiaries file income tax returns in the u.s . federal jurisdiction and various foreign jurisdictions . with few exceptions , the statute of limitations is no longer open for u.s . federal or non-u.s . income tax examinations for the years before 2011 , other than with respect to refunds . u.s . income taxes and foreign withholding taxes have not been provided on earnings of $ 291 million , $ 222 million and $ 211 million that have not been distributed by our non-u.s . companies as of december 31 , 2014 , 2013 and 2012 . our intention is to permanently reinvest these earnings , thereby indefinitely postponing their remittance to the u.s . if these earnings had been remitted , we estimate that the additional income taxes after foreign tax credits would have been approximately $ 55 million in 2014 , $ 50 million in 2013 and $ 45 million in 2012 . our federal and foreign income tax payments , net of refunds received , were $ 1.5 billion in 2014 , $ 787 million in 2013 and $ 890 million in 2012 . our 2014 and 2013 net payments reflect a $ 200 million and $ 550 million refund from the irs primarily attributable to our tax-deductible discretionary pension contributions during the fourth quarters of 2013 and 2012 , and our 2012 net payments reflect a $ 153 million refund from the irs related to a 2011 capital loss carryback . note 8 2013 debt our long-term debt consisted of the following ( in millions ) : .
||2014|2013|
|notes with rates from 2.13% ( 2.13 % ) to 6.15% ( 6.15 % ) due 2016 to 2042|$ 5642|$ 5642|
|notes with rates from 7.00% ( 7.00 % ) to 7.75% ( 7.75 % ) due 2016 to 2036|916|916|
|other debt|483|476|
|total long-term debt|7041|7034|
|less : unamortized discounts|-872 ( 872 )|-882 ( 882 )|
|total long-term debt net|$ 6169|$ 6152|
in august 2014 , we entered into a new $ 1.5 billion revolving credit facility with a syndicate of banks and concurrently terminated our existing $ 1.5 billion revolving credit facility which was scheduled to expire in august 2016 . the new credit facility expires august 2019 and we may request and the banks may grant , at their discretion , an increase to the new credit facility of up to an additional $ 500 million . the credit facility also includes a sublimit of up to $ 300 million available for the issuance of letters of credit . there were no borrowings outstanding under the new facility through december 31 , 2014 . borrowings under the new credit facility would be unsecured and bear interest at rates based , at our option , on a eurodollar rate or a base rate , as defined in the new credit facility . each bank 2019s obligation to make loans under the credit facility is subject to , among other things , our compliance with various representations , warranties and covenants , including covenants limiting our ability and certain of our subsidiaries 2019 ability to encumber assets and a covenant not to exceed a maximum leverage ratio , as defined in the credit facility . the leverage ratio covenant excludes the adjustments recognized in stockholders 2019 equity related to postretirement benefit plans . as of december 31 , 2014 , we were in compliance with all covenants contained in the credit facility , as well as in our debt agreements . we have agreements in place with financial institutions to provide for the issuance of commercial paper . there were no commercial paper borrowings outstanding during 2014 or 2013 . if we were to issue commercial paper , the borrowings would be supported by the credit facility . in april 2013 , we repaid $ 150 million of long-term notes with a fixed interest rate of 7.38% ( 7.38 % ) due to their scheduled maturities . during the next five years , we have scheduled long-term debt maturities of $ 952 million due in 2016 and $ 900 million due in 2019 . interest payments were $ 326 million in 2014 , $ 340 million in 2013 and $ 378 million in 2012 . all of our existing unsecured and unsubordinated indebtedness rank equally in right of payment . note 9 2013 postretirement plans defined benefit pension plans and retiree medical and life insurance plans many of our employees are covered by qualified defined benefit pension plans and we provide certain health care and life insurance benefits to eligible retirees ( collectively , postretirement benefit plans ) . we also sponsor nonqualified defined benefit pension plans to provide for benefits in excess of qualified plan limits . non-union represented employees hired after december 2005 do not participate in our qualified defined benefit pension plans , but are eligible to participate in a qualified .
Question: what was the average total long-term debt from 2013 to 2014
Answer: | 8.5 |
FINQA4581 | Please answer the given financial question based on the context.
Context: other long term debt in december 2012 , the company entered into a $ 50.0 million recourse loan collateralized by the land , buildings and tenant improvements comprising the company 2019s corporate headquarters . the loan has a seven year term and maturity date of december 2019 . the loan bears interest at one month libor plus a margin of 1.50% ( 1.50 % ) , and allows for prepayment without penalty . the loan includes covenants and events of default substantially consistent with the company 2019s credit agreement discussed above . the loan also requires prior approval of the lender for certain matters related to the property , including transfers of any interest in the property . as of december 31 , 2017 and 2016 , the outstanding balance on the loan was $ 40.0 million and $ 42.0 million , respectively . the weighted average interest rate on the loan was 2.5% ( 2.5 % ) and 2.0% ( 2.0 % ) for the years ended december 31 , 2017 and 2016 , respectively . the following are the scheduled maturities of long term debt as of december 31 , 2017 : ( in thousands ) .
|2018|$ 27000|
|2019|63000|
|2020|25000|
|2021|86250|
|2022|2014|
|2023 and thereafter|600000|
|total scheduled maturities of long term debt|$ 801250|
|current maturities of long term debt|$ 27000|
interest expense , net was $ 34.5 million , $ 26.4 million , and $ 14.6 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . interest expense includes the amortization of deferred financing costs , bank fees , capital and built-to-suit lease interest and interest expense under the credit and other long term debt facilities . amortization of deferred financing costs was $ 1.3 million , $ 1.2 million , and $ 0.8 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . the company monitors the financial health and stability of its lenders under the credit and other long term debt facilities , however during any period of significant instability in the credit markets lenders could be negatively impacted in their ability to perform under these facilities . 7 . commitments and contingencies obligations under operating leases the company leases warehouse space , office facilities , space for its brand and factory house stores and certain equipment under non-cancelable operating leases . the leases expire at various dates through 2033 , excluding extensions at the company 2019s option , and include provisions for rental adjustments . the table below includes executed lease agreements for brand and factory house stores that the company did not yet occupy as of december 31 , 2017 and does not include contingent rent the company may incur at its stores based on future sales above a specified minimum or payments made for maintenance , insurance and real estate taxes . the following is a schedule of future minimum lease payments for non-cancelable real property operating leases as of december 31 , 2017 as well as .
Question: what is the percentage change in the balance of outstanding loan from 2016 to 2017?
Answer: | 0.05 |
FINQA4582 | Please answer the given financial question based on the context.
Context: of exercise for stock options exercised or at period end for outstanding stock options , less the applicable exercise price . the company issued new shares to satisfy exercised stock options . compensation expense the company recorded $ 43 million , $ 34 million , and $ 44 million of expense related to stock awards for the years ended december 31 , 2015 , 2014 , and 2013 , respectively . the company recorded $ 17 million , $ 13 million , and $ 17 million as a tax benefit related to stock awards and stock options for the years ended december 31 , 2015 , 2014 , and 2013 , respectively . the company recognized tax benefits for the years ended december 31 , 2015 , 2014 , and 2013 , of $ 41 million , $ 53 million , and $ 32 million , respectively , from the issuance of stock in settlement of stock awards , and $ 4 million , $ 5 million , and $ 4 million for the years ended december 31 , 2015 , 2014 , and 2013 , respectively , from the exercise of stock options . unrecognized compensation expense as of december 31 , 2015 , the company had less than $ 1 million of unrecognized compensation expense associated with rsrs granted in 2015 and 2014 , which will be recognized over a weighted average period of 1.0 year , and $ 25 million of unrecognized expense associated with rpsrs granted in 2015 , 2014 , and 2013 , which will be recognized over a weighted average period of 0.6 years . as of december 31 , 2015 , the company had no unrecognized compensation expense related to stock options . compensation expense for stock options was fully recognized as of december 31 , 2013 . 20 . unaudited selected quarterly data unaudited quarterly financial results for the years ended december 31 , 2015 and 2014 , are set forth in the following tables: .
|( $ in millions except per share amounts )|year ended december 31 2015 1st qtr|year ended december 31 2015 2nd qtr ( 1 )|year ended december 31 2015 3rd qtr|year ended december 31 2015 4th qtr ( 2 )|
|sales and service revenues|$ 1570|$ 1745|$ 1800|$ 1905|
|operating income ( loss )|156|269|200|144|
|earnings ( loss ) before income taxes|133|244|175|80|
|net earnings ( loss )|87|156|111|50|
|dividends declared per share|$ 0.40|$ 0.40|$ 0.40|$ 0.50|
|basic earnings ( loss ) per share|$ 1.80|$ 3.22|$ 2.31|$ 1.07|
|diluted earnings ( loss ) per share|$ 1.79|$ 3.20|$ 2.29|$ 1.06|
( 1 ) in the second quarter of 2015 , the company recorded a $ 59 million goodwill impairment charge . during the same period , the company recorded $ 136 million of operating income as a result of the aon settlement . ( 2 ) in the fourth quarter of 2015 , the company recorded $ 16 million goodwill impairment and $ 27 million intangible asset impairment charges. .
Question: what is the total revenue for the fiscal year of 2015?
Answer: | 7020.0 |
FINQA4583 | Please answer the given financial question based on the context.
Context: a valuation allowance totaling $ 43.9 million , $ 40.4 million and $ 40.1 million as of 2012 , 2011 and 2010 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 2012 , 2011 and ( amounts in millions ) 2012 2011 2010 .
|( amounts in millions )|2012|2011|2010|
|unrecognized tax benefits at beginning of year|$ 11.0|$ 11.1|$ 17.5|
|gross increases 2013 tax positions in prior periods|0.7|0.5|0.6|
|gross decreases 2013 tax positions in prior periods|-4.9 ( 4.9 )|-0.4 ( 0.4 )|-0.4 ( 0.4 )|
|gross increases 2013 tax positions in the current period|1.2|2.8|3.1|
|settlements with taxing authorities|2013|-1.2 ( 1.2 )|-9.5 ( 9.5 )|
|increase related to acquired business|2013|2013|0.4|
|lapsing of statutes of limitations|-1.2 ( 1.2 )|-1.8 ( 1.8 )|-0.6 ( 0.6 )|
|unrecognized tax benefits at end of year|$ 6.8|$ 11.0|$ 11.1|
of the $ 6.8 million , $ 11.0 million and $ 11.1 million of unrecognized tax benefits as of 2012 , 2011 and 2010 year end , respectively , approximately $ 4.1 million , $ 9.1 million and $ 11.1 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 2012 and 2011 , the company reversed a net $ 0.5 million and $ 1.4 million , respectively , of interest and penalties to income associated with unrecognized tax benefits . as of 2012 , 2011 and 2010 year end , the company has provided for $ 1.6 million , $ 1.6 million and $ 2.8 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 $ 2.4 million . over the next 12 months , snap-on anticipates taking uncertain 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 $ 1.6 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 $ 492.2 million , $ 416.4 million and $ 386.5 million as of 2012 , 2011 and 2010 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 . 2012 annual report 83 .
Question: what was the average unrecognized tax benefits at end of year from 2010 to 2012
Answer: | 9.63333 |
FINQA4584 | Please answer the given financial question based on the context.
Context: rm&t segment we do not attempt to qualify commodity derivative instruments used in our rm&t operations for hedge accounting . as a result , we recognize all changes in the fair value of derivatives used in our rm&t operations in income , although most of these derivatives have an underlying physical commodity transaction . generally , derivative losses occur when market prices increase , which are offset by gains on the underlying physical commodity transactions . conversely , derivative gains occur when market prices decrease , which are offset by losses on the underlying physical commodity transactions . derivative gains or losses included in rm&t segment income for each of the last three years are summarized in the following table : strategy ( in millions ) 2004 2003 2002 .
|strategy ( in millions )|2004|2003|2002|
|mitigate price risk|$ -106 ( 106 )|$ -112 ( 112 )|$ -95 ( 95 )|
|protect carrying values of excess inventories|-98 ( 98 )|-57 ( 57 )|-41 ( 41 )|
|protect margin on fixed price sales|8|5|11|
|protect crack spread values|-76 ( 76 )|6|1|
|trading activities|8|-4 ( 4 )|2013|
|total net derivative losses|$ -264 ( 264 )|$ -162 ( 162 )|$ -124 ( 124 )|
during 2004 , using derivative instruments map sold crack spreads forward through the fourth quarter 2005 at values higher than the company thought sustainable in the actual months these contracts expire . included in the $ 76 million derivative loss for 2004 noted in the above table for the 2018 2018protect crack spread values 2019 2019 strategy was approximately an $ 8 million gain due to changes in the fair value of crack-spread derivatives that will expire throughout 2005 . in addition , natural gas options are in place to manage the price risk associated with approximately 41 percent of the first quarter 2005 anticipated natural gas purchases for refinery use . ig segment we have used derivative instruments to convert the fixed price of a long-term gas sales contract to market prices . the underlying physical contract is for a specified annual quantity of gas and matures in 2008 . similarly , we will use derivative instruments to convert shorter term ( typically less than a year ) fixed price contracts to market prices in our ongoing purchase for resale activity ; and to hedge purchased gas injected into storage for subsequent resale . derivative gains included in ig segment income were $ 17 million in 2004 , compared to gains of $ 19 million in 2003 and losses of $ 8 million in 2002 . trading activity in the ig segment resulted in losses of $ 2 million in 2004 , compared to losses of $ 7 million in 2003 and gains of $ 4 million in 2002 and have been included in the aforementioned amounts . other commodity risk we are impacted by basis risk , caused by factors that affect the relationship between commodity futures prices reflected in derivative commodity instruments and the cash market price of the underlying commodity . natural gas transaction prices are frequently based on industry reference prices that may vary from prices experienced in local markets . for example , new york mercantile exchange ( 2018 2018nymex 2019 2019 ) contracts for natural gas are priced at louisiana 2019s henry hub , while the underlying quantities of natural gas may be produced and sold in the western united states at prices that do not move in strict correlation with nymex prices . if commodity price changes in one region are not reflected in other regions , derivative commodity instruments may no longer provide the expected hedge , resulting in increased exposure to basis risk . these regional price differences could yield favorable or unfavorable results . otc transactions are being used to manage exposure to a portion of basis risk . we are impacted by liquidity risk , caused by timing delays in liquidating contract positions due to a potential inability to identify a counterparty willing to accept an offsetting position . due to the large number of active participants , liquidity risk exposure is relatively low for exchange-traded transactions. .
Question: what was the change in derivative gains included in ig segment income from 2004 , compared to 2003 , in millions?
Answer: | -2.0 |
FINQA4585 | Please answer the given financial question based on the context.
Context: the table below sets forth information on our share repurchases and dividends paid in 2015 , 2014 and 2013 . ( in billions ) share repurchases and dividends paid dividends paid share repurchases 20142013 2015 contractual obligations .
|as of december 31 2015 ( in millions )|payment due by period total|payment due by period year 1|payment due by period years 2-3|payment due by period years 4-5|payment due by period more than 5|
|debtobligations ( a )|$ 52727|$ 3597|$ 6842|$ 8482|$ 33806|
|capital lease obligations|156|30|47|39|40|
|operating lease obligations|3459|452|782|608|1617|
|purchaseobligations ( b )|53644|10848|10080|8537|24179|
|other long-term liabilities reflected on the balance sheet ( c )|6280|590|1245|2390|2055|
|total ( d ) ( e )|$ 116266|$ 15517|$ 18996|$ 20056|$ 61697|
purchase obligations ( b ) 53644 10848 10080 8537 24179 other long-term liabilities reflected on the balance sheet ( c ) 6280 590 1245 2390 2055 total ( d ) ( e ) $ 116266 $ 15517 $ 18996 $ 20056 $ 61697 refer to note 10 and note 17 to comcast 2019s consolidated financial statements . ( a ) excludes interest payments . ( b ) purchase obligations consist of agreements to purchase goods and services that are legally binding on us and specify all significant terms , including fixed or minimum quantities to be purchased and price provisions . our purchase obligations related to our cable communications segment include programming contracts with cable networks and local broadcast television stations ; contracts with customer premise equipment manufacturers , communications vendors and multichannel video providers for which we provide advertising sales representation ; and other contracts entered into in the normal course of business . cable communications programming contracts in the table above include amounts payable under fixed or minimum guaranteed commitments and do not represent the total fees that are expected to be paid under programming contracts , which we expect to be significantly higher because these contracts are generally based on the number of subscribers receiving the programming . our purchase obligations related to our nbcuniversal segments consist primarily of commitments to acquire film and television programming , including u.s . television rights to future olympic games through 2032 , sunday night football on the nbc network through the 2022-23 season , including the super bowl in 2018 and 2021 , nhl games through the 2020-21 season , spanish-language u.s . television rights to fifa world cup games through 2022 , u.s television rights to english premier league soccer games through the 2021-22 season , certain pga tour and other golf events through 2030 and certain nascar events through 2024 , as well as obligations under various creative talent and employment agreements , including obligations to actors , producers , television personalities and executives , and various other television commitments . purchase obligations do not include contracts with immaterial future commitments . ( c ) other long-term liabilities reflected on the balance sheet consist primarily of subsidiary preferred shares ; deferred compensation obliga- tions ; and pension , postretirement and postemployment benefit obligations . a contractual obligation with a carrying value of $ 1.1 billion is not included in the table above because it is uncertain if the arrangement will be settled . the contractual obligation involves an interest held by a third party in the revenue of certain theme parks . the arrangement provides the counterparty with the right to periodic pay- ments associated with current period revenue and , beginning in 2017 , the option to require nbcuniversal to purchase the interest for cash in an amount based on a contractually specified formula , which amount could be significantly higher than our current carrying value . see note 11 to comcast 2019s consolidated financial statements for additional information related to this arrangement . reserves for uncertain tax positions of $ 1.1 billion are not included in the table above because it is uncertain if and when these reserves will become payable . payments of $ 2.1 billion of participations and residuals are also not included in the table above because we cannot make a reliable esti- mate of the period in which these obligations will be settled . ( d ) our contractual obligations do not include the commitment to invest up to $ 4 billion at any one time as an investor in atairos due to our inability to estimate the timing of this funding . in addition , we do not include any future expenditures related to the construction and development of the proposed universal studios theme park in beijing , china as we are not currently obligated to make such funding . comcast 2015 annual report on form 10-k 66 .
Question: what percent of total payments due in year 1 are due to purchase obligations?
Answer: | 0.6991 |
FINQA4586 | Please answer the given financial question based on the context.
Context: hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) failure of the company to develop new products and product enhancements on a timely basis or within budget could harm the company 2019s results of operations and financial condition . for additional risks that may affect the company 2019s business and prospects following completion of the merger , see 201crisk factors 201d in item 1a of the company 2019s form 10-k for the year ended september 29 , 2007 . goodwill the preliminary purchase price allocation has resulted in goodwill of approximately $ 3895100 . the factors contributing to the recognition of this amount of goodwill are based upon several strategic and synergistic benefits that are expected to be realized from the combination . these benefits include the expectation that the company 2019s complementary products and technologies will create a leading women 2019s healthcare company with an enhanced presence in hospitals , private practices and healthcare organizations . the company also expects to realize substantial synergies through the use of cytyc 2019s ob/gyn and breast surgeon sales channel to cross-sell the company 2019s existing and future products . the merger provides the company broader channel coverage within the united states and expanded geographic reach internationally , as well as increased scale and scope for further expanding operations through product development and complementary strategic transactions . supplemental unaudited pro-forma information the following unaudited pro forma information presents the consolidated results of operations of the company and cytyc as if the acquisitions had occurred at the beginning of fiscal 2007 , with pro forma adjustments to give effect to amortization of intangible assets , an increase in interest expense on acquisition financing and certain other adjustments together with related tax effects: .
|( approximate amounts in thousands except per share data )|2007|
|net revenue|$ 1472400|
|net income|$ 62600|
|net income per share 2014basic|$ 0.52|
|net income per share 2014assuming dilution|$ 0.50|
the $ 368200 charge for acquired in-process research and development that was a direct result of the transaction is excluded from the unaudited pro forma information above . the unaudited pro forma results are not necessarily indicative of the results that the company would have attained had the acquisitions of cytyc occurred at the beginning of the periods presented . prior to the close of the merger the board of directors of both hologic and cytyc approved a modification to certain outstanding equity awards for cytyc employees . the modification provided for the acceleration of vesting upon the close of merger for those awards that did not provide for acceleration upon a change of control as part of the original terms of the award . this modification was made so that the company will not incur stock based compensation charges that it otherwise would have if the awards had continued to vest under their original terms . credit agreement on october 22 , 2007 , company and certain of its domestic subsidiaries , entered into a senior secured credit agreement with goldman sachs credit partners l.p . and certain other lenders , ( collectively , the 201clenders 201d ) . pursuant to the terms and conditions of the credit agreement , the lenders have committed to provide senior secured financing in an aggregate amount of up to $ 2550000 . as of the closing of the cytyc merger , the company borrowed $ 2350000 under the credit facilities. .
Question: what would be the net profit margin in 2007 assuming that acquisitions of the company and cytyc at the beginning of fiscal 2007?
Answer: | 0.04252 |
FINQA4587 | 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 was the percent of the total contractual obligations associated with lines of credit that was due in 2011
Answer: | 0.02288 |
FINQA4588 | Please answer the given financial question based on the context.
Context: jpmorgan chase & co./2017 annual report 53 net interest income excluding cib 2019s markets businesses in addition to reviewing net interest income on a managed basis , management also reviews net interest income excluding net interest income arising from cib 2019s markets businesses to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities . this net interest income is referred to as non-markets related net interest income . cib 2019s markets businesses are fixed income markets and equity markets . management believes that disclosure of non-markets related net interest income provides investors and analysts with another measure by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities . the data presented below are non-gaap financial measures due to the exclusion of markets related net interest income arising from cib . year ended december 31 , ( in millions , except rates ) 2017 2016 2015 net interest income 2013 managed basis ( a ) ( b ) $ 51410 $ 47292 $ 44620 less : cib markets net interest income ( c ) 4630 6334 5298 net interest income excluding cib markets ( a ) $ 46780 $ 40958 $ 39322 average interest-earning assets $ 2180592 $ 2101604 $ 2088242 less : average cib markets interest-earning assets ( c ) 540835 520307 510292 average interest-earning assets excluding cib markets $ 1639757 $ 1581297 $ 1577950 net interest yield on average interest-earning assets 2013 managed basis 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) 2.14% ( 2.14 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.86 1.22 1.04 net interest yield on average interest-earning assets excluding cib markets 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) 2.49% ( 2.49 % ) ( a ) interest includes the effect of related hedges . taxable-equivalent amounts are used where applicable . ( b ) for a reconciliation of net interest income on a reported and managed basis , see reconciliation from the firm 2019s reported u.s . gaap results to managed basis on page 52 . ( c ) the amounts in this table differ from the prior-period presentation to align with cib 2019s markets businesses . for further information on cib 2019s markets businesses , see page 65 . calculation of certain u.s . gaap and non-gaap financial measures certain u.s . gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity .
|year ended december 31 ( in millions except rates )|2017|2016|2015|
|net interest income 2013 managed basis ( a ) ( b )|$ 51410|$ 47292|$ 44620|
|less : cib markets net interest income ( c )|4630|6334|5298|
|net interest income excluding cib markets ( a )|$ 46780|$ 40958|$ 39322|
|average interest-earning assets|$ 2180592|$ 2101604|$ 2088242|
|less : average cib markets interest-earning assets ( c )|540835|520307|510292|
|average interest-earning assets excluding cib markets|$ 1639757|$ 1581297|$ 1577950|
|net interest yield on average interest-earning assets 2013 managed basis|2.36% ( 2.36 % )|2.25% ( 2.25 % )|2.14% ( 2.14 % )|
|net interest yield on average cib markets interest-earning assets ( c )|0.86|1.22|1.04|
|net interest yield on average interest-earning assets excluding cib markets|2.85% ( 2.85 % )|2.59% ( 2.59 % )|2.49% ( 2.49 % )|
jpmorgan chase & co./2017 annual report 53 net interest income excluding cib 2019s markets businesses in addition to reviewing net interest income on a managed basis , management also reviews net interest income excluding net interest income arising from cib 2019s markets businesses to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities . this net interest income is referred to as non-markets related net interest income . cib 2019s markets businesses are fixed income markets and equity markets . management believes that disclosure of non-markets related net interest income provides investors and analysts with another measure by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities . the data presented below are non-gaap financial measures due to the exclusion of markets related net interest income arising from cib . year ended december 31 , ( in millions , except rates ) 2017 2016 2015 net interest income 2013 managed basis ( a ) ( b ) $ 51410 $ 47292 $ 44620 less : cib markets net interest income ( c ) 4630 6334 5298 net interest income excluding cib markets ( a ) $ 46780 $ 40958 $ 39322 average interest-earning assets $ 2180592 $ 2101604 $ 2088242 less : average cib markets interest-earning assets ( c ) 540835 520307 510292 average interest-earning assets excluding cib markets $ 1639757 $ 1581297 $ 1577950 net interest yield on average interest-earning assets 2013 managed basis 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) 2.14% ( 2.14 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.86 1.22 1.04 net interest yield on average interest-earning assets excluding cib markets 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) 2.49% ( 2.49 % ) ( a ) interest includes the effect of related hedges . taxable-equivalent amounts are used where applicable . ( b ) for a reconciliation of net interest income on a reported and managed basis , see reconciliation from the firm 2019s reported u.s . gaap results to managed basis on page 52 . ( c ) the amounts in this table differ from the prior-period presentation to align with cib 2019s markets businesses . for further information on cib 2019s markets businesses , see page 65 . calculation of certain u.s . gaap and non-gaap financial measures certain u.s . gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity .
Question: for 2017 what was net interest income on average managed interest-earning assets in us$ m?
Answer: | 51461.9712 |
FINQA4589 | Please answer the given financial question based on the context.
Context: 12 . brokerage receivables and brokerage payables the company has receivables and payables for financial instruments sold to and purchased from brokers , dealers and customers , which arise in the ordinary course of business . citi is exposed to risk of loss from the inability of brokers , dealers or customers to pay for purchases or to deliver the financial instruments sold , in which case citi would have to sell or purchase the financial instruments at prevailing market prices . credit risk is reduced to the extent that an exchange or clearing organization acts as a counterparty to the transaction and replaces the broker , dealer or customer in question . citi seeks to protect itself from the risks associated with customer activities by requiring customers to maintain margin collateral in compliance with regulatory and internal guidelines . margin levels are monitored daily , and customers deposit additional collateral as required . where customers cannot meet collateral requirements , citi may liquidate sufficient underlying financial instruments to bring the customer into compliance with the required margin level . exposure to credit risk is impacted by market volatility , which may impair the ability of clients to satisfy their obligations to citi . credit limits are established and closely monitored for customers and for brokers and dealers engaged in forwards , futures and other transactions deemed to be credit sensitive . brokerage receivables and brokerage payables consisted of the following: .
|in millions of dollars|december 31 , 2018|december 31 , 2017|
|receivables from customers|$ 14415|$ 19215|
|receivables from brokers dealers and clearing organizations|21035|19169|
|total brokerage receivables ( 1 )|$ 35450|$ 38384|
|payables to customers|$ 40273|$ 38741|
|payables to brokers dealers and clearing organizations|24298|22601|
|total brokerage payables ( 1 )|$ 64571|$ 61342|
total brokerage payables ( 1 ) $ 64571 $ 61342 ( 1 ) includes brokerage receivables and payables recorded by citi broker-dealer entities that are accounted for in accordance with the aicpa accounting guide for brokers and dealers in securities as codified in asc 940-320. .
Question: what percentage of total brokerage payables at december 31 , 2017 where receivables from customers?
Answer: | 0.31324 |
FINQA4590 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis 102 jpmorgan chase & co./2016 annual report derivative contracts in the normal course of business , the firm uses derivative instruments predominantly for market-making activities . derivatives enable customers to manage exposures to fluctuations in interest rates , currencies and other markets . the firm also uses derivative instruments to manage its own credit and other market risk exposure . the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed . for otc derivatives the firm is exposed to the credit risk of the derivative counterparty . for exchange- traded derivatives ( 201cetd 201d ) , such as futures and options and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp . where possible , the firm seeks to mitigate its credit risk exposures arising from derivative transactions through the use of legally enforceable master netting arrangements and collateral agreements . for further discussion of derivative contracts , counterparties and settlement types , see note 6 . the following table summarizes the net derivative receivables for the periods presented . derivative receivables .
|december 31 ( in millions )|2016|2015|
|interest rate|$ 28302|$ 26363|
|credit derivatives|1294|1423|
|foreign exchange|23271|17177|
|equity|4939|5529|
|commodity|6272|9185|
|total net of cash collateral|64078|59677|
|liquid securities and other cash collateral held against derivative receivables ( a )|-22705 ( 22705 )|-16580 ( 16580 )|
|total net of all collateral|$ 41373|$ 43097|
( a ) includes collateral related to derivative instruments where an appropriate legal opinion has not been either sought or obtained . derivative receivables reported on the consolidated balance sheets were $ 64.1 billion and $ 59.7 billion at december 31 , 2016 and 2015 , respectively . these amounts represent the fair value of the derivative contracts after giving effect to legally enforceable master netting agreements and cash collateral held by the firm . however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s . government and agency securities and other group of seven nations ( 201cg7 201d ) government bonds ) and other cash collateral held by the firm aggregating $ 22.7 billion and $ 16.6 billion at december 31 , 2016 and 2015 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor . the change in derivative receivables was predominantly related to client-driven market-making activities in cib . the increase in derivative receivables reflected the impact of market movements , which increased foreign exchange receivables , partially offset by reduced commodity derivative receivables . in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily cash , g7 government securities , other liquid government-agency and guaranteed securities , and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date . although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative transactions move in the firm 2019s favor . the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit . for additional information on the firm 2019s use of collateral agreements , see note 6 . while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure . to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) . these measures all incorporate netting and collateral benefits , where applicable . peak represents a conservative measure of potential exposure to a counterparty calculated in a manner that is broadly equivalent to a 97.5% ( 97.5 % ) confidence level over the life of the transaction . peak is the primary measure used by the firm for setting of credit limits for derivative transactions , senior management reporting and derivatives exposure management . dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be equivalent to the risk of loan exposures . dre is a less extreme measure of potential credit loss than peak and is used for aggregating derivative credit risk exposures with loans and other credit risk . finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral . avg exposure over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit capital and the cva , as further described below . the three year avg exposure was $ 31.1 billion and $ 32.4 billion at december 31 , 2016 and 2015 , respectively , compared with derivative receivables , net of all collateral , of $ 41.4 billion and $ 43.1 billion at december 31 , 2016 and 2015 , respectively . the fair value of the firm 2019s derivative receivables incorporates an adjustment , the cva , to reflect the credit quality of counterparties . the cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market . the primary components of changes in cva are credit spreads , new deal activity or unwinds , and changes in the underlying market environment . the firm believes that active risk management is essential to controlling the dynamic credit .
Question: what was the net three year avg derivative liability exposure , in billions , for 2016?
Answer: | -10.3 |
FINQA4591 | Please answer the given financial question based on the context.
Context: part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our common stock on the nyse for the years 2015 and 2014. .
|2015|high|low|
|quarter ended march 31|$ 101.88|$ 93.21|
|quarter ended june 30|98.64|91.99|
|quarter ended september 30|101.54|86.83|
|quarter ended december 31|104.12|87.23|
|2014|high|low|
|quarter ended march 31|$ 84.90|$ 78.38|
|quarter ended june 30|90.73|80.10|
|quarter ended september 30|99.90|89.05|
|quarter ended december 31|106.31|90.20|
on february 19 , 2016 , the closing price of our common stock was $ 87.32 per share as reported on the nyse . as of february 19 , 2016 , we had 423897556 outstanding shares of common stock and 159 registered holders . dividends as a reit , we must annually distribute to our stockholders an amount equal to at least 90% ( 90 % ) of our reit taxable income ( determined before the deduction for distributed earnings and excluding any net capital gain ) . generally , we have distributed and expect to continue to distribute all or substantially all of our reit taxable income after taking into consideration our utilization of net operating losses ( 201cnols 201d ) . we have two series of preferred stock outstanding , 5.25% ( 5.25 % ) mandatory convertible preferred stock , series a , issued in may 2014 ( the 201cseries a preferred stock 201d ) , with a dividend rate of 5.25% ( 5.25 % ) , and the 5.50% ( 5.50 % ) mandatory convertible preferred stock , series b ( the 201cseries b preferred stock 201d ) , issued in march 2015 , with a dividend rate of 5.50% ( 5.50 % ) . dividends are payable quarterly in arrears , subject to declaration by our board of directors . the amount , timing and frequency of future distributions will be at the sole discretion of our board of directors and will be dependent upon various factors , a number of which may be beyond our control , including our financial condition and operating cash flows , the amount required to maintain our qualification for taxation as a reit and reduce any income and excise taxes that we otherwise would be required to pay , limitations on distributions in our existing and future debt and preferred equity instruments , our ability to utilize nols to offset our distribution requirements , limitations on our ability to fund distributions using cash generated through our trss and other factors that our board of directors may deem relevant . we have distributed an aggregate of approximately $ 2.3 billion to our common stockholders , including the dividend paid in january 2016 , primarily subject to taxation as ordinary income . during the year ended december 31 , 2015 , we declared the following cash distributions: .
Question: as of february 19 , 2016 what was the market capitalization
Answer: | 37014734589.92 |
FINQA4592 | Please answer the given financial question based on the context.
Context: the company further presents total net 201ceconomic 201d investment exposure , net of deferred compensation investments and hedged investments , to reflect another gauge for investors as the economic impact of investments held pursuant to deferred compensation arrangements is substantially offset by a change in compensation expense and the impact of hedged investments is substantially mitigated by total return swap hedges . carried interest capital allocations are excluded as there is no impact to blackrock 2019s stockholders 2019 equity until such amounts are realized as performance fees . finally , the company 2019s regulatory investment in federal reserve bank stock , which is not subject to market or interest rate risk , is excluded from the company 2019s net economic investment exposure . ( dollar amounts in millions ) december 31 , december 31 .
|( dollar amounts in millions )|december 31 2012|december 31 2011|
|total investments gaap|$ 1750|$ 1631|
|investments held by consolidated sponsored investmentfunds ( 1 )|-524 ( 524 )|-587 ( 587 )|
|net exposure to consolidated investment funds|430|475|
|total investments as adjusted|1656|1519|
|federal reserve bank stock ( 2 )|-89 ( 89 )|-328 ( 328 )|
|carried interest|-85 ( 85 )|-21 ( 21 )|
|deferred compensation investments|-62 ( 62 )|-65 ( 65 )|
|hedged investments|-209 ( 209 )|-43 ( 43 )|
|total 201ceconomic 201d investment exposure|$ 1211|$ 1062|
total 201ceconomic 201d investment exposure . . . $ 1211 $ 1062 ( 1 ) at december 31 , 2012 and december 31 , 2011 , approximately $ 524 million and $ 587 million , respectively , of blackrock 2019s total gaap investments were maintained in sponsored investment funds that were deemed to be controlled by blackrock in accordance with gaap , and , therefore , are consolidated even though blackrock may not economically own a majority of such funds . ( 2 ) the decrease of $ 239 million related to a lower holding requirement of federal reserve bank stock held by blackrock institutional trust company , n.a . ( 201cbtc 201d ) . total investments , as adjusted , at december 31 , 2012 increased $ 137 million from december 31 , 2011 , resulting from $ 765 million of purchases/capital contributions , $ 185 million from positive market valuations and earnings from equity method investments , and $ 64 million from net additional carried interest capital allocations , partially offset by $ 742 million of sales/maturities and $ 135 million of distributions representing return of capital and return on investments. .
Question: in 2012 , what net exposure amounted to consolidated investment funds amounted to what percent of the investments held by consolidated sponsored investment funds?
Answer: | 0.82061 |
FINQA4593 | Please answer the given financial question based on the context.
Context: deposits 2014deposits include escrow funds and certain other deposits held in trust . the company includes cash deposits in other current assets . deferred compensation obligations 2014the company 2019s deferred compensation plans allow participants to defer certain cash compensation into notional investment accounts . the company includes such plans in other long-term liabilities . the value of the company 2019s deferred compensation obligations is based on the market value of the participants 2019 notional investment accounts . the notional investments are comprised primarily of mutual funds , which are based on observable market prices . mark-to-market derivative asset and liability 2014the company utilizes fixed-to-floating interest-rate swaps , typically designated as fair-value hedges , to achieve a targeted level of variable-rate debt as a percentage of total debt . the company also employs derivative financial instruments in the form of variable-to-fixed interest rate swaps and forward starting interest rate swaps , classified as economic hedges and cash flow hedges , respectively , in order to fix the interest cost on existing or forecasted debt . the company uses a calculation of future cash inflows and estimated future outflows , which are discounted , to determine the current fair value . additional inputs to the present value calculation include the contract terms , counterparty credit risk , interest rates and market volatility . other investments 2014other investments primarily represent money market funds used for active employee benefits . the company includes other investments in other current assets . note 18 : leases the company has entered into operating leases involving certain facilities and equipment . rental expenses under operating leases were $ 29 million , $ 24 million and $ 21 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . the operating leases for facilities will expire over the next 25 years and the operating leases for equipment will expire over the next 5 years . certain operating leases have renewal options ranging from one to five years . the minimum annual future rental commitment under operating leases that have initial or remaining non-cancelable lease terms over the next 5 years and thereafter are as follows: .
||amount|
|2018|$ 15|
|2019|14|
|2020|12|
|2021|9|
|2022|8|
|thereafter|65|
the company has a series of agreements with various public entities ( the 201cpartners 201d ) to establish certain joint ventures , commonly referred to as 201cpublic-private partnerships . 201d under the public-private partnerships , the company constructed utility plant , financed by the company and the partners constructed utility plant ( connected to the company 2019s property ) , financed by the partners . the company agreed to transfer and convey some of its real and personal property to the partners in exchange for an equal principal amount of industrial development bonds ( 201cidbs 201d ) , issued by the partners under a state industrial development bond and commercial development act . the company leased back the total facilities , including portions funded by both the company and the partners , under leases for a period of 40 years . the leases related to the portion of the facilities funded by the company have required payments from the company to the partners that approximate the payments required by the terms of the idbs from the partners to the company ( as the holder of the idbs ) . as the ownership of the portion of the facilities constructed by the .
Question: what was the change in the rental amount from 2017 to 2018 in millions
Answer: | 14.0 |
FINQA4594 | Please answer the given financial question based on the context.
Context: fidelity national information services , inc . and subsidiaries notes to consolidated financial statements - ( continued ) the following summarizes the aggregate maturities of our debt and capital leases on stated contractual maturities , excluding unamortized non-cash bond premiums and discounts net of $ 30 million as of december 31 , 2017 ( in millions ) : .
||total|
|2018|$ 1045|
|2019|44|
|2020|1157|
|2021|1546|
|2022|705|
|thereafter|4349|
|total principal payments|8846|
|debt issuance costs net of accumulated amortization|-53 ( 53 )|
|total long-term debt|$ 8793|
there are no mandatory principal payments on the revolving loan and any balance outstanding on the revolving loan will be due and payable at its scheduled maturity date , which occurs at august 10 , 2021 . fis may redeem the 2018 notes , 2020 notes , 2021 notes , 2021 euro notes , 2022 notes , 2022 gbp notes , 2023 notes , 2024 notes , 2024 euro notes , 2025 notes , 2026 notes , and 2046 notes at its option in whole or in part , at any time and from time to time , at a redemption price equal to the greater of 100% ( 100 % ) of the principal amount to be redeemed and a make-whole amount calculated as described in the related indenture in each case plus accrued and unpaid interest to , but excluding , the date of redemption , provided no make-whole amount will be paid for redemptions of the 2020 notes , the 2021 notes , the 2021 euro notes and the 2022 gbp notes during the one month prior to their maturity , the 2022 notes during the two months prior to their maturity , the 2023 notes , the 2024 notes , the 2024 euro notes , the 2025 notes , and the 2026 notes during the three months prior to their maturity , and the 2046 notes during the six months prior to their maturity . debt issuance costs of $ 53 million , net of accumulated amortization , remain capitalized as of december 31 , 2017 , related to all of the above outstanding debt . we monitor the financial stability of our counterparties on an ongoing basis . the lender commitments under the undrawn portions of the revolving loan are comprised of a diversified set of financial institutions , both domestic and international . the failure of any single lender to perform its obligations under the revolving loan would not adversely impact our ability to fund operations . the fair value of the company 2019s long-term debt is estimated to be approximately $ 156 million higher than the carrying value as of december 31 , 2017 . this estimate is based on quoted prices of our senior notes and trades of our other debt in close proximity to december 31 , 2017 , which are considered level 2-type measurements . this estimate is subjective in nature and involves uncertainties and significant judgment in the interpretation of current market data . therefore , the values presented are not necessarily indicative of amounts the company could realize or settle currently. .
Question: what is the amount of long-term debt that should be reported in the non-current liabilities section of the balance sheet as of december 31 , 2017?
Answer: | 7748.0 |
FINQA4595 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 161 fifth third bancorp as of december 31 , 2012 ( $ in millions ) significant unobservable ranges of financial instrument fair value valuation technique inputs inputs weighted-average commercial loans held for sale $ 9 appraised value appraised value nm nm cost to sell nm 10.0% ( 10.0 % ) commercial and industrial loans 83 appraised value default rates 100% ( 100 % ) nm collateral value nm nm commercial mortgage loans 46 appraised value default rates 100% ( 100 % ) nm collateral value nm nm commercial construction loans 4 appraised value default rates 100% ( 100 % ) nm collateral value nm nm msrs 697 discounted cash flow prepayment speed 0 - 100% ( 100 % ) ( fixed ) 16.1% ( 16.1 % ) ( adjustable ) 26.9% ( 26.9 % ) discount rates 9.4 - 18.0% ( 18.0 % ) ( fixed ) 10.5% ( 10.5 % ) ( adjustable ) 11.7% ( 11.7 % ) .
|financial instrument|fair value|valuation technique|significant unobservableinputs|ranges ofinputs|weighted-average|
|commercial loans held for sale|$ 9|appraised value|appraised valuecost to sell|nmnm|nm10.0% ( nm10.0 % )|
|commercial and industrial loans|83|appraised value|default ratescollateral value|100%nm|nmnm|
|commercial mortgage loans|46|appraised value|default ratescollateral value|100%nm|nmnm|
|commercial construction loans|4|appraised value|default ratescollateral value|100%nm|nmnm|
|msrs|697|discounted cash flow|prepayment speeddiscount rates|0 - 100%9.4 - 18.0% ( 18.0 % )|( fixed ) 16.1% ( 16.1 % ) ( adjustable ) 26.9% ( 26.9 % ) ( fixed ) 10.5% ( 10.5 % ) ( adjustable ) 11.7% ( 11.7 % )|
|oreo|165|appraised value|appraised value|nm|nm|
commercial loans held for sale during 2013 and 2012 , the bancorp transferred $ 5 million and $ 16 million , respectively , of commercial loans from the portfolio to loans held for sale that upon transfer were measured at fair value using significant unobservable inputs . these loans had fair value adjustments in 2013 and 2012 totaling $ 4 million and $ 1 million , respectively , and were generally based on appraisals of the underlying collateral and were therefore , classified within level 3 of the valuation hierarchy . additionally , during 2013 and 2012 there were fair value adjustments on existing commercial loans held for sale of $ 3 million and $ 12 million , respectively . the fair value adjustments were also based on appraisals of the underlying collateral and were therefore classified within level 3 of the valuation hierarchy . an adverse change in the fair value of the underlying collateral would result in a decrease in the fair value measurement . the accounting department determines the procedures for valuation of commercial hfs loans which may include a comparison to recently executed transactions of similar type loans . a monthly review of the portfolio is performed for reasonableness . quarterly , appraisals approaching a year old are updated and the real estate valuation group , which reports to the chief risk and credit officer , in conjunction with the commercial line of business review the third party appraisals for reasonableness . additionally , the commercial line of business finance department , which reports to the bancorp chief financial officer , in conjunction with accounting review all loan appraisal values , carrying values and vintages . commercial loans held for investment during 2013 and 2012 , the bancorp recorded nonrecurring impairment adjustments to certain commercial and industrial , commercial mortgage and commercial construction loans held for investment . larger commercial loans included within aggregate borrower relationship balances exceeding $ 1 million that exhibit probable or observed credit weaknesses are subject to individual review for impairment . the bancorp considers the current value of collateral , credit quality of any guarantees , the guarantor 2019s liquidity and willingness to cooperate , the loan structure and other factors when evaluating whether an individual loan is impaired . when the loan is collateral dependent , the fair value of the loan is generally based on the fair value of the underlying collateral supporting the loan and therefore these loans were classified within level 3 of the valuation hierarchy . in cases where the carrying value exceeds the fair value , an impairment loss is recognized . an adverse change in the fair value of the underlying collateral would result in a decrease in the fair value measurement . the fair values and recognized impairment losses are reflected in the previous table . commercial credit risk , which reports to the chief risk and credit officer , is responsible for preparing and reviewing the fair value estimates for commercial loans held for investment . mortgage interest rates increased during the year ended december 31 , 2013 and the bancorp recognized a recovery of temporary impairment on servicing rights . the bancorp recognized temporary impairments in certain classes of the msr portfolio during the year ended december 31 , 2012 and the carrying value was adjusted to the fair value . msrs do not trade in an active , open market with readily observable prices . while sales of msrs do occur , the precise terms and conditions typically are not readily available . accordingly , the bancorp estimates the fair value of msrs using internal discounted cash flow models with certain unobservable inputs , primarily prepayment speed assumptions , discount rates and weighted average lives , resulting in a classification within level 3 of the valuation hierarchy . refer to note 11 for further information on the assumptions used in the valuation of the bancorp 2019s msrs . the secondary marketing department and treasury department are responsible for determining the valuation methodology for msrs . representatives from secondary marketing , treasury , accounting and risk management are responsible for reviewing key assumptions used in the internal discounted cash flow model . two external valuations of the msr portfolio are obtained from third parties that use valuation models in order to assess the reasonableness of the internal discounted cash flow model . additionally , the bancorp participates in peer surveys that provide additional confirmation of the reasonableness of key assumptions utilized in the msr valuation process and the resulting msr prices . during 2013 and 2012 , the bancorp recorded nonrecurring adjustments to certain commercial and residential real estate properties classified as oreo and measured at the lower of carrying amount or fair value . these nonrecurring losses are primarily due to declines in real estate values of the properties recorded in oreo . for the years ended december 31 , 2013 and 2012 , these losses include $ 19 million and $ 17 million , respectively , recorded as charge-offs , on new oreo properties transferred from loans during the respective periods and $ 26 million and $ 57 million , respectively , recorded as negative fair value adjustments on oreo in other noninterest income subsequent to their transfer from loans . as discussed in the following paragraphs , the fair value amounts are generally based on appraisals of the property values , resulting in a .
Question: during 2013 , were the fair value adjustments greater for loans transferred to held for sale greater than the adjustments for loans already classified as held for sale?
Answer: | yes |
FINQA4596 | Please answer the given financial question based on the context.
Context: arconic and its subsidiaries file income tax returns in the u.s . federal jurisdiction and various states and foreign jurisdictions . with a few minor exceptions , arconic is no longer subject to income tax examinations by tax authorities for years prior to 2006 . all u.s . tax years prior to 2016 have been audited by the internal revenue service . various state and foreign jurisdiction tax authorities are in the process of examining arconic 2019s income tax returns for various tax years through 2015 . a reconciliation of the beginning and ending amount of unrecognized tax benefits ( excluding interest and penalties ) was as follows: .
|december 31,|2016|2015|2014|
|balance at beginning of year|$ 18|$ 7|$ 8|
|additions for tax positions of the current year|12|-|-|
|additions for tax positions of prior years|-|14|4|
|reductions for tax positions of prior years|-|-2 ( 2 )|-3 ( 3 )|
|settlements with tax authorities|-1 ( 1 )|-|-1 ( 1 )|
|expiration of the statute of limitations|-1 ( 1 )|-1 ( 1 )|-|
|foreign currency translation|-|-|-1 ( 1 )|
|balance at end of year|$ 28|$ 18|$ 7|
for all periods presented , a portion of the balance at end of year pertains to state tax liabilities , which are presented before any offset for federal tax benefits . the effect of unrecognized tax benefits , if recorded , that would impact the annual effective tax rate for 2016 , 2015 , and 2014 would be approximately 6% ( 6 % ) , 7% ( 7 % ) , and 4% ( 4 % ) , respectively , of pretax book income . arconic does not anticipate that changes in its unrecognized tax benefits will have a material impact on the statement of consolidated operations during 2017 ( see tax in note l for a matter for which no reserve has been recognized ) . it is arconic 2019s policy to recognize interest and penalties related to income taxes as a component of the provision for income taxes on the accompanying statement of consolidated operations . in 2016 , 2015 , and 2014 , arconic did not recognize any interest or penalties . due to the expiration of the statute of limitations , settlements with tax authorities , and refunded overpayments , arconic recognized interest income of $ 1 in 2015 but did not recognize any interest income in 2016 or 2014 . as of december 31 , 2016 and 2015 , the amount accrued for the payment of interest and penalties was $ 2 and $ 1 , respectively . s . receivables sale of receivables programs arconic has an arrangement with three financial institutions to sell certain customer receivables without recourse on a revolving basis . the sale of such receivables is completed through the use of a bankruptcy remote special purpose entity , which is a consolidated subsidiary of arconic . this arrangement provides for minimum funding of $ 200 up to a maximum of $ 400 for receivables sold . on march 30 , 2012 , arconic initially sold $ 304 of customer receivables in exchange for $ 50 in cash and $ 254 of deferred purchase price under this arrangement . arconic has received additional net cash funding of $ 300 for receivables sold ( $ 1758 in draws and $ 1458 in repayments ) since the program 2019s inception , including $ 100 ( $ 500 in draws and $ 400 in repayments ) in 2016 . no draws or repayments occurred in 2015 . as of december 31 , 2016 and 2015 , the deferred purchase price receivable was $ 83 and $ 249 , respectively , which was included in other receivables on the accompanying consolidated balance sheet . the deferred purchase price receivable is reduced as collections of the underlying receivables occur ; however , as this is a revolving program , the sale of new receivables will result in an increase in the deferred purchase price receivable . the net change in the deferred purchase price receivable was reflected in the ( increase ) decrease in receivables line item on the accompanying statement of consolidated cash flows . this activity is reflected as an operating cash flow because the related customer receivables are the result of an operating activity with an insignificant , short-term interest rate risk. .
Question: considering the years 2014-2015 , what was the increase in the additions for tax positions of prior years , in dollars?
Answer: | 10.0 |
FINQA4597 | 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 securities and exchange commission , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing . the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the 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 , 2005 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock . comparison of five year cumulative total return $ 40.00 $ 60.00 $ 80.00 $ 100.00 $ 120.00 $ 140.00 $ 160.00 201020092008200720062005 s&p 500 ups dj transport .
||12/31/05|12/31/06|12/31/07|12/31/08|12/31/09|12/31/10|
|united parcel service inc .|$ 100.00|$ 101.76|$ 98.20|$ 78.76|$ 84.87|$ 110.57|
|standard & poor 2019s 500 index|$ 100.00|$ 115.79|$ 122.16|$ 76.96|$ 97.33|$ 111.99|
|dow jones transportation average|$ 100.00|$ 109.82|$ 111.38|$ 87.52|$ 103.79|$ 131.59|
.
Question: what was the percentage cumulative total shareowners 2019 returns for united parcel service inc . for the five years ended 12/31/10?
Answer: | 0.1057 |
FINQA4598 | Please answer the given financial question based on the context.
Context: undistributed earnings of $ 696.9 million from certain foreign subsidiaries are considered to be permanently reinvested abroad and will not be repatriated to the united states in the foreseeable future . because those earnings are considered to be indefinitely reinvested , no domestic federal or state deferred income taxes have been provided thereon . if we were to make a distribution of any portion of those earnings in the form of dividends or otherwise , we would be subject to both u.s . income taxes ( subject to an adjustment for foreign tax credits ) and withholding taxes payable to the various foreign jurisdictions . because of the availability of u.s . foreign tax credit carryforwards , it is not practicable to determine the domestic federal income tax liability that would be payable if such earnings were no longer considered to be reinvested indefinitely . a valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized . changes to our valuation allowance during the years ended may 31 , 2015 and 2014 are summarized below ( in thousands ) : .
|balance at may 31 2013|$ -28464 ( 28464 )|
|utilization of foreign net operating loss carryforwards|2822|
|allowance for foreign tax credit carryforward|18061|
|other|382|
|balance at may 31 2014|-7199 ( 7199 )|
|utilization of foreign net operating loss carryforwards|3387|
|other|-11 ( 11 )|
|balance at may 31 2015|$ -3823 ( 3823 )|
net operating loss carryforwards of foreign subsidiaries totaling $ 12.4 million and u.s . net operating loss carryforwards previously acquired totaling $ 19.8 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2033 if not utilized . capital loss carryforwards of u.s . subsidiaries totaling $ 4.7 million will expire if not utilized by may 31 , 2017 . tax credit carryforwards totaling $ 8.4 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2023 if not utilized . we conduct business globally and file income tax returns in the u.s . federal jurisdiction and various state and foreign jurisdictions . in the normal course of business , we are subject to examination by taxing authorities around the world . as a result of events that occurred in the fourth quarter of the year ended may 31 , 2015 , management concluded that it was more likely than not that the tax positions in a foreign jurisdiction , for which we had recorded estimated liabilities of $ 65.6 million in other noncurrent liabilities on our consolidated balance sheet , would be sustained on their technical merits based on information available as of may 31 , 2015 . therefore , the liability and corresponding deferred tax assets were eliminated as of may 31 , 2015 . the uncertain tax positions have been subject to an ongoing examination in that foreign jurisdiction by the tax authority . discussions and correspondence between the tax authority and us during the fourth quarter indicated that the likelihood of the positions being sustained had increased . subsequent to may 31 , 2015 , we received a final closure notice regarding the examination resulting in no adjustments to taxable income related to this matter for the tax returns filed for the periods ended may 31 , 2010 through may 31 , 2013 . the unrecognized tax benefits were effectively settled with this final closure notice . we are no longer subjected to state income tax examinations for years ended on or before may 31 , 2008 , u.s . federal income tax examinations for fiscal years prior to 2012 and united kingdom federal income tax examinations for years ended on or before may 31 , 2013 . 78 2013 global payments inc . | 2015 form 10-k annual report .
Question: what is the total loss carryforwards?
Answer: | 36.9 |
FINQA4599 | Please answer the given financial question based on the context.
Context: performance graph the following graph compares the cumulative five-year total return provided shareholders on our class a common stock relative to the cumulative total returns of the s&p 500 index and two customized peer groups . the old peer group includes intercontinentalexchange , inc. , nyse euronext and the nasdaq omx group inc . the new peer group is the same as the old peer group with the addition of cboe holdings , inc . which completed its initial public offering in june 2010 . an investment of $ 100 ( with reinvestment of all dividends ) is assumed to have been made in our class a common stock , in the peer groups and the s&p 500 index on december 31 , 2005 and its relative performance is tracked through december 31 , 2010 . comparison of 5 year cumulative total return* among cme group inc. , the s&p 500 index , an old peer group and a new peer group 12/05 12/06 12/07 12/08 12/09 12/10 cme group inc . s&p 500 old peer group *$ 100 invested on 12/31/05 in stock or index , including reinvestment of dividends . fiscal year ending december 31 . copyright a9 2011 s&p , a division of the mcgraw-hill companies inc . all rights reserved . new peer group the stock price performance included in this graph is not necessarily indicative of future stock price performance .
||2006|2007|2008|2009|2010|
|cme group inc .|$ 139.48|$ 188.81|$ 58.66|$ 96.37|$ 93.73|
|s&p 500|115.80|122.16|76.96|97.33|111.99|
|old peer group|155.58|190.78|72.25|76.11|87.61|
|new peer group|155.58|190.78|72.25|76.11|87.61|
.
Question: did the cme group outperform the s&p 500?
Answer: | no |
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