Context
stringlengths 523
16k
| Question
stringlengths 26
367
| Answer
stringlengths 1
335
| Ground_truths
dict | Explanation
stringclasses 898
values |
|---|---|---|---|---|
note 9 2014goodwill and other intangibles , net goodwill the following table outlines the activity in the carrying value of the company 2019s goodwill , which is all assigned to the company 2019s trading and investing segment ( dollars in thousands ) : .
[['', 'trading & investing'], ['balance at december 31 2011', '$ 1934232'], ['activity', '2014'], ['balance at december 31 2012', '1934232'], ['impairment of goodwill', '-142423 ( 142423 )'], ['balance at december 31 2013', '$ 1791809']]
goodwill is evaluated for impairment on an annual basis and when events or changes indicate the carrying value of an asset exceeds its fair value and the loss may not be recoverable .at december 31 , 2013 and 2012 , the company 2019s trading and investing segment had two reporting units ; market making and retail brokerage .at the end of june 2013 , the company decided to exit its market making business .based on this decision in the second quarter of 2013 , the company conducted an interim goodwill impairment test for the market making reporting unit , using the expected sale structure of the market making business .this structure assumed a shorter period of cash flows related to an order flow arrangement , compared to prior estimates of fair value .based on the results of the first step of the goodwill impairment test , the company determined that the carrying value of the market making reporting unit , including goodwill , exceeded the fair value for that reporting unit as of june 30 , 2013 .the company proceeded to the second step of the goodwill impairment test to measure the amount of goodwill impairment .as a result of the evaluation , it was determined that the entire carrying amount of goodwill allocated to the market making reporting unit was impaired , and the company recognized a $ 142.4 million impairment of goodwill during the second quarter of 2013 .for the year ended december 31 , 2013 , the company performed its annual goodwill assessment for the retail brokerage reporting unit , electing to qualitatively assess whether it was more likely than not that the fair value was less than the carrying value .as a result of this assessment , the company determined that the first step of the goodwill impairment test was not necessary , and concluded that goodwill was not impaired at december 31 , 2013 .at december 31 , 2013 , goodwill is net of accumulated impairment losses of $ 142.4 million related to the trading and investing segment and $ 101.2 million in the balance sheet management segment .at december 31 , 2012 , goodwill is net of accumulated impairment losses of $ 101.2 million in the balance sheet management segment. .
|
what was the percentage change in carrying value of the company 2019s goodwill between 2012 and 2013?
|
-7%
|
{
"answer": "-7%",
"decimal": -0.07,
"type": "percentage"
}
| |
notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d .1 .nature of operations operations and segmentation 2013 we are a class i railroad that operates in the united states .we have 32094 route miles , linking pacific coast and gulf coast ports with the midwest and eastern united states gateways and providing several corridors to key mexican gateways .we serve the western two- thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .although revenues are analyzed by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network .the following table provides revenue by commodity group : millions of dollars 2009 2008 2007 .
[['millions of dollars', '2009', '2008', '2007'], ['agricultural', '$ 2666', '$ 3174', '$ 2605'], ['automotive', '854', '1344', '1458'], ['chemicals', '2102', '2494', '2287'], ['energy', '3118', '3810', '3134'], ['industrial products', '2147', '3273', '3077'], ['intermodal', '2486', '3023', '2925'], ['total freight revenues', '$ 13373', '$ 17118', '$ 15486'], ['other revenues', '770', '852', '797'], ['total operating revenues', '$ 14143', '$ 17970', '$ 16283']]
although our revenues are principally derived from customers domiciled in the united states , the ultimate points of origination or destination for some products transported are outside the united states .basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the united states of america ( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .subsequent events evaluation 2013 we evaluated the effects of all subsequent events through february 5 , 2010 , the date of this report , which is concurrent with the date we file this report with the u.s .securities and exchange commission ( sec ) .2 .significant accounting policies change in accounting principle 2013 we have historically accounted for rail grinding costs as a capital asset .beginning in the first quarter of 2010 , we will change our accounting policy for rail grinding costs .
|
for 2009 , what was freight revenue per route mile?
|
416682
|
{
"answer": "416682",
"decimal": 416682,
"type": "float"
}
| |
aggregate notional amounts associated with interest rate caps in place as of december 31 , 2004 and interest rate detail by contractual maturity dates ( in thousands , except percentages ) .
[['interest rate caps', '2005', '2006'], ['notional amount ( d )', '$ 350000', '$ 350000'], ['cap rate ( e )', '6.00% ( 6.00 % )', '6.00% ( 6.00 % )']]
( a ) as of december 31 , 2005 , variable rate debt consists of the new american tower and spectrasite credit facilities ( $ 1493.0 million ) that were refinanced on october 27 , 2005 , which are included above based on their october 27 , 2010 maturity dates .as of december 31 , 2005 , fixed rate debt consists of : the 2.25% ( 2.25 % ) convertible notes due 2009 ( 2.25% ( 2.25 % ) notes ) ( $ 0.1 million ) ; the 7.125% ( 7.125 % ) notes ( $ 500.0 million principal amount due at maturity ; the balance as of december 31 , 2005 is $ 501.9 million ) ; the 5.0% ( 5.0 % ) notes ( $ 275.7 million ) ; the 3.25% ( 3.25 % ) notes ( $ 152.9 million ) ; the 7.50% ( 7.50 % ) notes ( $ 225.0 million ) ; the ati 7.25% ( 7.25 % ) notes ( $ 400.0 million ) ; the ati 12.25% ( 12.25 % ) notes ( $ 227.7 million principal amount due at maturity ; the balance as of december 31 , 2005 is $ 160.3 million accreted value , net of the allocated fair value of the related warrants of $ 7.2 million ) ; the 3.00% ( 3.00 % ) notes ( $ 345.0 million principal amount due at maturity ; the balance as of december 31 , 2005 is $ 344.4 million accreted value ) and other debt of $ 60.4 million .interest on our credit facilities is payable in accordance with the applicable london interbank offering rate ( libor ) agreement or quarterly and accrues at our option either at libor plus margin ( as defined ) or the base rate plus margin ( as defined ) .the weighted average interest rate in effect at december 31 , 2005 for our credit facilities was 4.71% ( 4.71 % ) .for the year ended december 31 , 2005 , the weighted average interest rate under our credit facilities was 5.03% ( 5.03 % ) .as of december 31 , 2004 , variable rate debt consists of our previous credit facility ( $ 698.0 million ) and fixed rate debt consists of : the 2.25% ( 2.25 % ) notes ( $ 0.1 million ) ; the 7.125% ( 7.125 % ) notes ( $ 500.0 million principal amount due at maturity ; the balance as of december 31 , 2004 is $ 501.9 million ) ; the 5.0% ( 5.0 % ) notes ( $ 275.7 million ) ; the 3.25% ( 3.25 % ) notes ( $ 210.0 million ) ; the 7.50% ( 7.50 % ) notes ( $ 225.0 million ) ; the ati 7.25% ( 7.25 % ) notes ( $ 400.0 million ) ; the ati 12.25% ( 12.25 % ) notes ( $ 498.3 million principal amount due at maturity ; the balance as of december 31 , 2004 is $ 303.8 million accreted value , net of the allocated fair value of the related warrants of $ 21.6 million ) ; the 9 3 20448% ( 20448 % ) notes ( $ 274.9 million ) ; the 3.00% ( 3.00 % ) notes ( $ 345.0 million principal amount due at maturity ; the balance as of december 31 , 2004 is $ 344.3 million accreted value ) and other debt of $ 60.0 million .interest on the credit facility was payable in accordance with the applicable london interbank offering rate ( libor ) agreement or quarterly and accrues at our option either at libor plus margin ( as defined ) or the base rate plus margin ( as defined ) .the weighted average interest rate in effect at december 31 , 2004 for the credit facility was 4.35% ( 4.35 % ) .for the year ended december 31 , 2004 , the weighted average interest rate under the credit facility was 3.81% ( 3.81 % ) .( b ) includes notional amount of $ 175000 that expires in february 2006 .( c ) includes notional amount of $ 25000 that expires in september 2007 .( d ) includes notional amounts of $ 250000 and $ 100000 that expire in june and july 2006 , respectively .( e ) represents the weighted-average fixed rate or range of interest based on contractual notional amount as a percentage of total notional amounts in a given year .( f ) includes notional amounts of $ 75000 , $ 75000 and $ 150000 that expire in december 2009 .( g ) includes notional amounts of $ 100000 , $ 50000 , $ 50000 , $ 50000 and $ 50000 that expire in october 2010 .( h ) includes notional amounts of $ 50000 and $ 50000 that expire in october 2010 .( i ) includes notional amount of $ 50000 that expires in october 2010 .our foreign operations include rental and management segment divisions in mexico and brazil .the remeasurement gain for the year ended december 31 , 2005 was $ 396000 , and the remeasurement losses for the years ended december 31 , 2004 , and 2003 approximated $ 146000 , and $ 1142000 , respectively .changes in interest rates can cause interest charges to fluctuate on our variable rate debt , comprised of $ 1493.0 million under our credit facilities as of december 31 , 2005 .a 10% ( 10 % ) increase , or approximately 47 basis points , in current interest rates would have caused an additional pre-tax charge our net loss and an increase in our cash outflows of $ 7.0 million for the year ended december 31 , 2005 .item 8 .financial statements and supplementary data see item 15 ( a ) .item 9 .changes in and disagreements with accountants on accounting and financial disclosure .
|
what is the annual interest expense related to the 7.125% ( 7.125 % ) notes , in millions?
|
35.6
|
{
"answer": "35.6",
"decimal": 35.6,
"type": "float"
}
| |
we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry .as such , we have no control over activities that could materially impact the fair value of the leased assets .we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies .additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase options are not considered to be potentially significant to the vies .the future minimum lease payments associated with the vie leases totaled $ 2.6 billion as of december 31 , 2015 .17 .leases we lease certain locomotives , freight cars , and other property .the consolidated statements of financial position as of december 31 , 2015 and 2014 included $ 2273 million , net of $ 1189 million of accumulated depreciation , and $ 2454 million , net of $ 1210 million of accumulated depreciation , respectively , for properties held under capital leases .a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income .future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2015 , were as follows : millions operating leases capital leases .
[['millions', 'operatingleases', 'capitalleases'], ['2016', '$ 491', '$ 217'], ['2017', '446', '220'], ['2018', '371', '198'], ['2019', '339', '184'], ['2020', '282', '193'], ['later years', '1501', '575'], ['total minimum lease payments', '$ 3430', '$ 1587'], ['amount representing interest', 'n/a', '-319 ( 319 )'], ['present value of minimum lease payments', 'n/a', '$ 1268']]
approximately 95% ( 95 % ) of capital lease payments relate to locomotives .rent expense for operating leases with terms exceeding one month was $ 590 million in 2015 , $ 593 million in 2014 , and $ 618 million in 2013 .when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term .contingent rentals and sub-rentals are not significant .18 .commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries .we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity .to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated .we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters .personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year .we use an actuarial analysis to measure the expense and liability , including unasserted claims .the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents .under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements .we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work .our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments .approximately 94% ( 94 % ) of the recorded liability is related to asserted claims and .
|
as of december 31 , 2015 what was the percent of the total minimum lease payments that was due in 2016
|
14.1%
|
{
"answer": "14.1%",
"decimal": 0.141,
"type": "percentage"
}
| |
entergy arkansas , inc .management's financial discussion and analysis results of operations net income 2004 compared to 2003 net income increased $ 16.2 million due to lower other operation and maintenance expenses , a lower effective income tax rate for 2004 compared to 2003 , and lower interest charges .the increase was partially offset by lower net revenue .2003 compared to 2002 net income decreased $ 9.6 million due to lower net revenue , higher depreciation and amortization expenses , and a higher effective income tax rate for 2003 compared to 2002 .the decrease was substantially offset by lower other operation and maintenance expenses , higher other income , and lower interest charges .net revenue 2004 compared to 2003 net revenue , which is entergy arkansas' measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits .following is an analysis of the change in net revenue comparing 2004 to 2003. .
[['', '( in millions )'], ['2003 net revenue', '$ 998.7'], ['deferred fuel cost revisions', '-16.9 ( 16.9 )'], ['other', '-3.4 ( 3.4 )'], ['2004 net revenue', '$ 978.4']]
deferred fuel cost revisions includes the difference between the estimated deferred fuel expense and the actual calculation of recoverable fuel expense , which occurs on an annual basis .deferred fuel cost revisions decreased net revenue due to a revised estimate of fuel costs filed for recovery at entergy arkansas in the march 2004 energy cost recovery rider , which reduced net revenue by $ 11.5 million .the remainder of the variance is due to the 2002 energy cost recovery true-up , made in the first quarter of 2003 , which increased net revenue in 2003 .gross operating revenues , fuel and purchased power expenses , and other regulatory credits gross operating revenues increased primarily due to : 2022 an increase of $ 20.7 million in fuel cost recovery revenues due to an increase in the energy cost recovery rider effective april 2004 ( fuel cost recovery revenues are discussed in note 2 to the domestic utility companies and system energy financial statements ) ; 2022 an increase of $ 15.5 million in grand gulf revenues due to an increase in the grand gulf rider effective january 2004 ; 2022 an increase of $ 13.9 million in gross wholesale revenue primarily due to increased sales to affiliated systems ; 2022 an increase of $ 9.5 million due to volume/weather primarily resulting from increased usage during the unbilled sales period , partially offset by the effect of milder weather on billed sales in 2004. .
|
what is the net change in net revenue during 2004 for entergy arkansas inc.?
|
-20.3
|
{
"answer": "-20.3",
"decimal": -20.3,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) pro forma disclosure 2014the company has adopted the disclosure-only provisions of sfas no .123 , as amended by sfas no .148 , and has presented such disclosure in note 1 .the 201cfair value 201d of each option grant is estimated on the date of grant using the black-scholes option pricing model .the weighted average fair values of the company 2019s options granted during 2004 , 2003 and 2002 were $ 7.05 , $ 6.32 , and $ 2.23 per share , respectively .key assumptions used to apply this pricing model are as follows: .
[['', '2004', '2003', '2002'], ['approximate risk-free interest rate', '4.23% ( 4.23 % )', '4.00% ( 4.00 % )', '4.53% ( 4.53 % )'], ['expected life of option grants', '4 years', '4 years', '5 years'], ['expected volatility of underlying stock ( the company plan )', '80.6% ( 80.6 % )', '86.6% ( 86.6 % )', '92.3% ( 92.3 % )'], ['expected volatility of underlying stock ( atc mexico and atc south america plans )', 'n/a', 'n/a', 'n/a'], ['expected dividends', 'n/a', 'n/a', 'n/a']]
voluntary option exchanges 2014in february 2004 , the company issued to eligible employees 1032717 options with an exercise price of $ 11.19 per share , the fair market value of the class a common stock on the date of grant .these options were issued in connection with a voluntary option exchange program entered into by the company in august 2003 , where the company accepted for surrender and cancelled options ( having an exercise price of $ 10.25 or greater ) to purchase 1831981 shares of its class a common stock .the program , which was offered to both full and part-time employees , excluding the company 2019s executive officers and its directors , called for the grant ( at least six months and one day from the surrender date to employees still employed on that date ) of new options exercisable for two shares of class a common stock for every three shares of class a common stock issuable upon exercise of a surrendered option .no options were granted to any employees who participated in the exchange offer between the cancellation date and the new grant date .in may 2002 , the company issued to eligible employees 2027612 options with an exercise price of $ 3.84 per share , the fair market value of the class a common stock on the date of grant .these options were issued in connection with a voluntary option exchange program entered into by the company in october 2001 , where the company accepted for surrender and cancelled options to purchase 3471211 shares of its class a common stock .the program , which was offered to both full and part-time employees , excluding most of the company 2019s executive officers , called for the grant ( at least six months and one day from the surrender date to employees still employed on that date ) of new options exercisable for two shares of class a common stock for every three shares of class a common stock issuable upon exercise of a surrendered option .no options were granted to any employees who participated in the exchange offer between the cancellation date and the new grant date .atc mexico holding stock option plan 2014the company maintains a stock option plan in its atc mexico subsidiary ( atc mexico plan ) .the atc mexico plan provides for the issuance of options to officers , employees , directors and consultants of atc mexico .the atc mexico plan limits the number of shares of common stock which may be granted to an aggregate of 360 shares , subject to adjustment based on changes in atc mexico 2019s capital structure .during 2002 , atc mexico granted options to purchase 318 shares of atc mexico common stock to officers and employees .such options were issued at one time with an exercise price of $ 10000 per share .the exercise price per share was at fair market value as determined by the board of directors with the assistance of an independent appraisal performed at the company 2019s request .the fair value of atc mexico plan options granted during 2002 were $ 3611 per share as determined by using the black-scholes option pricing model .as described in note 10 , all outstanding options were exercised in march 2004 .no options under the atc mexico plan were granted in 2004 or 2003 , or exercised or cancelled in 2003 or 2002 , and no options were exercisable as of december 31 , 2003 or 2002 .( see note 10. ) .
|
based on the black-scholes option pricing model what was the percent of the change in approximate risk-free interest rate from 2003 to 2004
|
5.8%
|
{
"answer": "5.8%",
"decimal": 0.057999999999999996,
"type": "percentage"
}
| |
ventas , inc .notes to consolidated financial statements 2014 ( continued ) applicable indenture .the issuers may also redeem the 2015 senior notes , in whole at any time or in part from time to time , on or after june 1 , 2010 at varying redemption prices set forth in the applicable indenture , plus accrued and unpaid interest thereon to the redemption date .in addition , at any time prior to june 1 , 2008 , the issuers may redeem up to 35% ( 35 % ) of the aggregate principal amount of either or both of the 2010 senior notes and 2015 senior notes with the net cash proceeds from certain equity offerings at redemption prices equal to 106.750% ( 106.750 % ) and 107.125% ( 107.125 % ) , respectively , of the principal amount thereof , plus , in each case , accrued and unpaid interest thereon to the redemption date .the issuers may redeem the 2014 senior notes , in whole at any time or in part from time to time , ( i ) prior to october 15 , 2009 at a redemption price equal to 100% ( 100 % ) of the principal amount thereof , plus a make-whole premium as described in the applicable indenture and ( ii ) on or after october 15 , 2009 at varying redemption prices set forth in the applicable indenture , plus , in each case , accrued and unpaid interest thereon to the redemption date .the issuers may redeem the 2009 senior notes and the 2012 senior notes , in whole at any time or in part from time to time , at a redemption price equal to 100% ( 100 % ) of the principal amount thereof , plus accrued and unpaid interest thereon to the redemption date and a make-whole premium as described in the applicable indenture .if we experience certain kinds of changes of control , the issuers must make an offer to repurchase the senior notes , in whole or in part , at a purchase price in cash equal to 101% ( 101 % ) of the principal amount of the senior notes , plus any accrued and unpaid interest to the date of purchase ; provided , however , that in the event moody 2019s and s&p have confirmed their ratings at ba3 or higher and bb- or higher on the senior notes and certain other conditions are met , this repurchase obligation will not apply .mortgages at december 31 , 2007 , we had outstanding 121 mortgage loans totaling $ 1.57 billion that are collateralized by the underlying assets of the properties .outstanding principal balances on these loans ranged from $ 0.4 million to $ 59.4 million as of december 31 , 2007 .the loans generally bear interest at fixed rates ranging from 5.4% ( 5.4 % ) to 8.5% ( 8.5 % ) per annum , except for 15 loans with outstanding principal balances ranging from $ 0.4 million to $ 32.0 million , which bear interest at the lender 2019s variable rates ranging from 3.4% ( 3.4 % ) to 7.3% ( 7.3 % ) per annum as of december 31 , 2007 .at december 31 , 2007 , the weighted average annual rate on fixed rate debt was 6.5% ( 6.5 % ) and the weighted average annual rate on the variable rate debt was 6.1% ( 6.1 % ) .the loans had a weighted average maturity of 7.0 years as of december 31 , 2007 .sunrise 2019s portion of total debt was $ 157.1 million as of december 31 , scheduled maturities of borrowing arrangements and other provisions as of december 31 , 2007 , our indebtedness had the following maturities ( in thousands ) : .
[['2008', '$ 193101'], ['2009', '605762'], ['2010', '282138'], ['2011', '303191'], ['2012', '527221'], ['thereafter', '1436263'], ['total maturities', '3347676'], ['unamortized fair value adjustment', '19669'], ['unamortized commission fees and discounts', '-6846 ( 6846 )'], ['senior notes payable and other debt', '$ 3360499']]
.
|
what was the growth rate of maturities from 2008 to 2009
|
214%
|
{
"answer": "214%",
"decimal": 2.14,
"type": "percentage"
}
|
the percentage change in the maturities from 2008 to 2009 is the rate of the growth of the maturities from that year to th enxt
|
the goldman sachs group , inc .and subsidiaries management 2019s discussion and analysis the risk committee of the board and the risk governance committee ( through delegated authority from the firmwide risk committee ) approve market risk limits and sub-limits at firmwide , business and product levels , consistent with our risk appetite statement .in addition , market risk management ( through delegated authority from the risk governance committee ) sets market risk limits and sub-limits at certain product and desk levels .the purpose of the firmwide limits is to assist senior management in controlling our overall risk profile .sub-limits are set below the approved level of risk limits .sub-limits set the desired maximum amount of exposure that may be managed by any particular business on a day-to-day basis without additional levels of senior management approval , effectively leaving day-to-day decisions to individual desk managers and traders .accordingly , sub-limits are a management tool designed to ensure appropriate escalation rather than to establish maximum risk tolerance .sub-limits also distribute risk among various businesses in a manner that is consistent with their level of activity and client demand , taking into account the relative performance of each area .our market risk limits are monitored daily by market risk management , which is responsible for identifying and escalating , on a timely basis , instances where limits have been exceeded .when a risk limit has been exceeded ( e.g. , due to positional changes or changes in market conditions , such as increased volatilities or changes in correlations ) , it is escalated to senior managers in market risk management and/or the appropriate risk committee .such instances are remediated by an inventory reduction and/or a temporary or permanent increase to the risk limit .model review and validation our var and stress testing models are regularly reviewed by market risk management and enhanced in order to incorporate changes in the composition of positions included in our market risk measures , as well as variations in market conditions .prior to implementing significant changes to our assumptions and/or models , model risk management performs model validations .significant changes to our var and stress testing models are reviewed with our chief risk officer and chief financial officer , and approved by the firmwide risk committee .see 201cmodel risk management 201d for further information about the review and validation of these models .systems we have made a significant investment in technology to monitor market risk including : 2030 an independent calculation of var and stress measures ; 2030 risk measures calculated at individual position levels ; 2030 attribution of risk measures to individual risk factors of each position ; 2030 the ability to report many different views of the risk measures ( e.g. , by desk , business , product type or entity ) ; 2030 the ability to produce ad hoc analyses in a timely manner .metrics we analyze var at the firmwide level and a variety of more detailed levels , including by risk category , business , and region .the tables below present average daily var and period-end var , as well as the high and low var for the period .diversification effect in the tables below represents the difference between total var and the sum of the vars for the four risk categories .this effect arises because the four market risk categories are not perfectly correlated .the table below presents average daily var by risk category. .
[['$ in millions', 'year ended december 2017', 'year ended december 2016', 'year ended december 2015'], ['interest rates', '$ 40', '$ 45', '$ 47'], ['equity prices', '24', '25', '26'], ['currency rates', '12', '21', '30'], ['commodity prices', '13', '17', '20'], ['diversification effect', '-35 ( 35 )', '-45 ( 45 )', '-47 ( 47 )'], ['total', '$ 54', '$ 63', '$ 76']]
our average daily var decreased to $ 54 million in 2017 from $ 63 million in 2016 , due to reductions across all risk categories , partially offset by a decrease in the diversification effect .the overall decrease was primarily due to lower levels of volatility .our average daily var decreased to $ 63 million in 2016 from $ 76 million in 2015 , due to reductions across all risk categories , partially offset by a decrease in the diversification effect .the overall decrease was primarily due to reduced exposures .goldman sachs 2017 form 10-k 91 .
|
what was the percentage change in average daily var in the interest rates risk category between 2016 and 2017?
|
-11%
|
{
"answer": "-11%",
"decimal": -0.11,
"type": "percentage"
}
| |
our refineries processed 944 mbpd of crude oil and 207 mbpd of other charge and blend stocks .the table below sets forth the location and daily crude oil refining capacity of each of our refineries as of december 31 , 2008 .crude oil refining capacity ( thousands of barrels per day ) 2008 .
[['( thousands of barrels per day )', '2008'], ['garyville louisiana', '256'], ['catlettsburg kentucky', '226'], ['robinson illinois', '204'], ['detroit michigan', '102'], ['canton ohio', '78'], ['texas city texas', '76'], ['st . paul park minnesota', '74'], ['total', '1016']]
our refineries include crude oil atmospheric and vacuum distillation , fluid catalytic cracking , catalytic reforming , desulfurization and sulfur recovery units .the refineries process a wide variety of crude oils and produce numerous refined products , ranging from transportation fuels , such as reformulated gasolines , blend- grade gasolines intended for blending with fuel ethanol and ultra-low sulfur diesel fuel , to heavy fuel oil and asphalt .additionally , we manufacture aromatics , cumene , propane , propylene , sulfur and maleic anhydride .our refineries are integrated with each other via pipelines , terminals and barges to maximize operating efficiency .the transportation links that connect our refineries allow the movement of intermediate products between refineries to optimize operations , produce higher margin products and utilize our processing capacity efficiently .our garyville , louisiana , refinery is located along the mississippi river in southeastern louisiana .the garyville refinery processes heavy sour crude oil into products such as gasoline , distillates , sulfur , asphalt , propane , polymer grade propylene , isobutane and coke .in 2006 , we approved an expansion of our garyville refinery by 180 mbpd to 436 mbpd , with a currently projected cost of $ 3.35 billion ( excluding capitalized interest ) .construction commenced in early 2007 and is continuing on schedule .we estimate that , as of december 31 , 2008 , this project is approximately 75 percent complete .we expect to complete the expansion in late 2009 .our catlettsburg , kentucky , refinery is located in northeastern kentucky on the western bank of the big sandy river , near the confluence with the ohio river .the catlettsburg refinery processes sweet and sour crude oils into products such as gasoline , asphalt , diesel , jet fuel , petrochemicals , propane , propylene and sulfur .our robinson , illinois , refinery is located in the southeastern illinois town of robinson .the robinson refinery processes sweet and sour crude oils into products such as multiple grades of gasoline , jet fuel , kerosene , diesel fuel , propane , propylene , sulfur and anode-grade coke .our detroit , michigan , refinery is located near interstate 75 in southwest detroit .the detroit refinery processes light sweet and heavy sour crude oils , including canadian crude oils , into products such as gasoline , diesel , asphalt , slurry , propane , chemical grade propylene and sulfur .in 2007 , we approved a heavy oil upgrading and expansion project at our detroit , michigan , refinery , with a current projected cost of $ 2.2 billion ( excluding capitalized interest ) .this project will enable the refinery to process additional heavy sour crude oils , including canadian bitumen blends , and will increase its crude oil refining capacity by about 15 percent .construction began in the first half of 2008 and is presently expected to be complete in mid-2012 .our canton , ohio , refinery is located approximately 60 miles southeast of cleveland , ohio .the canton refinery processes sweet and sour crude oils into products such as gasoline , diesel fuels , kerosene , propane , sulfur , asphalt , roofing flux , home heating oil and no .6 industrial fuel oil .our texas city , texas , refinery is located on the texas gulf coast approximately 30 miles south of houston , texas .the refinery processes sweet crude oil into products such as gasoline , propane , chemical grade propylene , slurry , sulfur and aromatics .our st .paul park , minnesota , refinery is located in st .paul park , a suburb of minneapolis-st .paul .the st .paul park refinery processes predominantly canadian crude oils into products such as gasoline , diesel , jet fuel , kerosene , asphalt , propane , propylene and sulfur. .
|
what percentage of crude oil refining capacity is located in robinson illinois?
|
20.1%
|
{
"answer": "20.1%",
"decimal": 0.201,
"type": "percentage"
}
| |
92 | 2017 form 10-k finite-lived intangible assets are amortized over their estimated useful lives and tested for impairment if events or changes in circumstances indicate that the asset may be impaired .in 2016 , gross customer relationship intangibles of $ 96 million and related accumulated amortization of $ 27 million as well as gross intellectual property intangibles of $ 111 million and related accumulated amortization of $ 48 million from the resource industries segment were impaired .the fair value of these intangibles was determined to be insignificant based on an income approach using expected cash flows .the fair value determination is categorized as level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs .the total impairment of $ 132 million was a result of restructuring activities and is included in other operating ( income ) expense in statement 1 .see note 25 for information on restructuring costs .amortization expense related to intangible assets was $ 323 million , $ 326 million and $ 337 million for 2017 , 2016 and 2015 , respectively .as of december 31 , 2017 , amortization expense related to intangible assets is expected to be : ( millions of dollars ) .
[['2018', '2019', '2020', '2021', '2022', 'thereafter'], ['$ 322', '$ 316', '$ 305', '$ 287', '$ 268', '$ 613']]
b .goodwill there were no goodwill impairments during 2017 or 2015 .our annual impairment tests completed in the fourth quarter of 2016 indicated the fair value of each reporting unit was substantially above its respective carrying value , including goodwill , with the exception of our surface mining & technology reporting unit .the surface mining & technology reporting unit , which primarily serves the mining industry , is a part of our resource industries segment .the goodwill assigned to this reporting unit is largely from our acquisition of bucyrus international , inc .in 2011 .its product portfolio includes large mining trucks , electric rope shovels , draglines , hydraulic shovels and related parts .in addition to equipment , surface mining & technology also develops and sells technology products and services to provide customer fleet management , equipment management analytics and autonomous machine capabilities .the annual impairment test completed in the fourth quarter of 2016 indicated that the fair value of surface mining & technology was below its carrying value requiring the second step of the goodwill impairment test process .the fair value of surface mining & technology was determined primarily using an income approach based on a discounted ten year cash flow .we assigned the fair value to surface mining & technology 2019s assets and liabilities using various valuation techniques that required assumptions about royalty rates , dealer attrition , technological obsolescence and discount rates .the resulting implied fair value of goodwill was below the carrying value .accordingly , we recognized a goodwill impairment charge of $ 595 million , which resulted in goodwill of $ 629 million remaining for surface mining & technology as of october 1 , 2016 .the fair value determination is categorized as level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs .there was a $ 17 million tax benefit associated with this impairment charge. .
|
what was pre impairment goodwill in millions for surface mining & technology as of october 1 , 2016?
|
1224
|
{
"answer": "1224",
"decimal": 1224,
"type": "float"
}
| |
shares of citigroup common stock .the number of shares to be delivered will equal the cse award value divided by the then fair market value of the common stock .for cses awarded to certain employees whose compensation structure was approved by the special master , 50% ( 50 % ) of the shares to be delivered in april 2010 will be subject to restrictions on sale and transfer until january 20 , 2011 .in lieu of 2010 cap awards , certain retirement-eligible employees were instead awarded cses payable in april 2010 , but any shares that are to be delivered in april 2010 ( subject to stockholder approval ) will be subject to restrictions on sale or transfer that will lapse in four equal annual installments beginning january 20 , 2011 .cse awards have generally been accrued as compensation expenses in the year 2009 and will be recorded as a liability from the january 2010 grant date until the settlement date in april 2010 .if stockholders approve delivery of citigroup stock for the cse awards , cse awards will likely be paid as new issues of common stock as an exception to the company 2019s practice of delivering shares from treasury stock , and the recorded liability will be reclassified as equity at that time .in january 2009 , members of the management executive committee ( except the ceo and cfo ) received 30% ( 30 % ) of their incentive awards for 2008 as performance vesting-equity awards .these awards vest 50% ( 50 % ) if the price of citigroup common stock meets a price target of $ 10.61 , and 50% ( 50 % ) for a price target of $ 17.85 , in each case on or prior to january 14 , 2013 .the price target will be met only if the nyse closing price equals or exceeds the applicable price target for at least 20 nyse trading days within any period of 30 consecutive nyse trading days ending on or before january 14 , 2013 .any shares that have not vested by such date will vest according to a fraction , the numerator of which is the share price on the delivery date and the denominator of which is the price target of the unvested shares .no dividend equivalents are paid on unvested awards .fair value of the awards is recognized as compensation expense ratably over the vesting period .on july 17 , 2007 , the committee approved the management committee long-term incentive plan ( mc ltip ) ( pursuant to the terms of the shareholder-approved 1999 stock incentive plan ) under which participants received an equity award that could be earned based on citigroup 2019s performance against various metrics relative to peer companies and publicly- stated return on equity ( roe ) targets measured at the end of each calendar year beginning with 2007 .the final expense for each of the three consecutive calendar years was adjusted based on the results of the roe tests .no awards were earned for 2009 , 2008 or 2007 and no shares were issued because performance targets were not met .no new awards were made under the mc ltip since the initial award in july 2007 .cap participants in 2008 , 2007 , 2006 and 2005 , and fa cap participants in those years and in 2009 , could elect to receive all or part of their award in stock options .the figures presented in the stock option program tables ( see 201cstock option programs 201d below ) include options granted in lieu of cap and fa cap stock awards in those years .a summary of the status of citigroup 2019s unvested stock awards at december 31 , 2009 and changes during the 12 months ended december 31 , 2009 are presented below : unvested stock awards shares weighted-average grant date fair value .
[['unvested stock awards', 'shares', 'weighted-average grant date fair value'], ['unvested at january 1 2009', '226210859', '$ 36.23'], ['new awards', '162193923', '$ 4.35'], ['cancelled awards', '-51873773 ( 51873773 )', '$ 26.59'], ['deleted awards', '-568377 ( 568377 )', '$ 13.91'], ['vested awards ( 1 )', '-148011884 ( 148011884 )', '$ 25.96'], ['unvested at december 31 2009', '187950748', '$ 19.53']]
( 1 ) the weighted-average market value of the vestings during 2009 was approximately $ 3.64 per share .at december 31 , 2009 , there was $ 1.6 billion of total unrecognized compensation cost related to unvested stock awards net of the forfeiture provision .that cost is expected to be recognized over a weighted-average period of 1.3 years. .
|
what was the approximate fair value of the shares vest in 2009
|
538763257.76
|
{
"answer": "538763257.76",
"decimal": 538763257.76,
"type": "float"
}
|
the approximate fair value of the shares vest in 2009 was 538763257.76
|
2007 annual report 39 corporate snap-on 2019s general corporate expenses totaled $ 53.8 million in 2006 , up from $ 46.4 million in 2005 , primarily due to $ 15.2 million of increased stock-based and performance-based incentive compensation , including $ 6.3 million from the january 1 , 2006 , adoption of sfas no .123 ( r ) .increased expenses in 2006 also included $ 4.2 million of higher insurance and other costs .these expense increases were partially offset by $ 9.5 million of benefits from rci initiatives .see note 13 to the consolidated financial statements for information on the company 2019s adoption of sfas no .123 ( r ) .financial condition snap-on 2019s growth has historically been funded by a combination of cash provided by operating activities and debt financing .snap-on believes that its cash from operations , coupled with its sources of borrowings , are sufficient to fund its anticipated requirements for working capital , capital expenditures , restructuring activities , acquisitions , common stock repurchases and dividend payments .due to snap-on 2019s credit rating over the years , external funds have been available at a reasonable cost .as of the close of business on february 15 , 2008 , snap-on 2019s long-term debt and commercial paper was rated a3 and p-2 by moody 2019s investors service and a- and a-2 by standard & poor 2019s .snap-on believes that the strength of its balance sheet , combined with its cash flows from operating activities , affords the company the financial flexibility to respond to both internal growth opportunities and those available through acquisitions .the following discussion focuses on information included in the accompanying consolidated balance sheets .snap-on has been focused on improving asset utilization by making more effective use of its investment in certain working capital items .the company assesses management 2019s operating performance and effectiveness relative to those components of working capital , particularly accounts receivable and inventories , that are more directly impacted by operational decisions .as of december 29 , 2007 , working capital ( current assets less current liabilities ) of $ 548.2 million was up $ 117.0 million from $ 431.2 million as of december 30 , 2006 .the increase in year-over-year working capital primarily reflects higher levels of 201ccash and cash equivalents 201d of $ 29.6 million , lower 201cnotes payable and current maturities of long-term debt 201d of $ 27.7 million , and $ 27.7 million of increased 201caccounts receivable 2013 net of allowances . 201d the following represents the company 2019s working capital position as of december 29 , 2007 , and december 30 , 2006 .( amounts in millions ) 2007 2006 .
[['( amounts in millions ) ad', '2007', '2006'], ['cash and cash equivalents', '$ 93.0', '$ 63.4'], ['accounts receivable 2013 net of allowances', '586.9', '559.2'], ['inventories', '322.4', '323.0'], ['other current assets', '185.1', '167.6'], ['total current assets', '1187.4', '1113.2'], ['accounts payable', '-171.6 ( 171.6 )', '-178.8 ( 178.8 )'], ['notes payable and current maturities of long-term debt', '-15.9 ( 15.9 )', '-43.6 ( 43.6 )'], ['other current liabilities', '-451.7 ( 451.7 )', '-459.6 ( 459.6 )'], ['total current liabilities', '-639.2 ( 639.2 )', '-682.0 ( 682.0 )'], ['total working capital', '$ 548.2', '$ 431.2']]
accounts receivable at the end of 2007 was $ 586.9 million , up $ 27.7 million from year-end 2006 levels .the year-over- year increase in accounts receivable primarily reflects the impact of higher sales in the fourth quarter of 2007 and $ 25.1 million of currency translation .this increase in accounts receivable was partially offset by lower levels of receivables as a result of an improvement in days sales outstanding from 76 days at year-end 2006 to 73 days at year-end 2007. .
|
what is the percentage change in total current liabilities from 2006 to 2007?
|
-6.3%
|
{
"answer": "-6.3%",
"decimal": -0.063,
"type": "percentage"
}
| |
table of contents marketaxess holdings inc .notes to consolidated financial statements 2014 ( continued ) of this standard had no material effect on the company 2019s consolidated statements of financial condition and consolidated statements of operations .reclassifications certain reclassifications have been made to the prior years 2019 financial statements in order to conform to the current year presentation .such reclassifications had no effect on previously reported net income .on march 5 , 2008 , the company acquired all of the outstanding capital stock of greenline financial technologies , inc .( 201cgreenline 201d ) , an illinois-based provider of integration , testing and management solutions for fix-related products and services designed to optimize electronic trading of fixed-income , equity and other exchange-based products , and approximately ten percent of the outstanding capital stock of tradehelm , inc. , a delaware corporation that was spun-out from greenline immediately prior to the acquisition .the acquisition of greenline broadens the range of technology services that the company offers to institutional financial markets , provides an expansion of the company 2019s client base , including global exchanges and hedge funds , and further diversifies the company 2019s revenues beyond the core electronic credit trading products .the results of operations of greenline are included in the consolidated financial statements from the date of the acquisition .the aggregate consideration for the greenline acquisition was $ 41.1 million , comprised of $ 34.7 million in cash , 725923 shares of common stock valued at $ 5.8 million and $ 0.6 million of acquisition-related costs .in addition , the sellers were eligible to receive up to an aggregate of $ 3.0 million in cash , subject to greenline attaining certain earn- out targets in 2008 and 2009 .a total of $ 1.4 million was paid to the sellers in 2009 based on the 2008 earn-out target , bringing the aggregate consideration to $ 42.4 million .the 2009 earn-out target was not met .a total of $ 2.0 million of the purchase price , which had been deposited into escrow accounts to satisfy potential indemnity claims , was distributed to the sellers in march 2009 .the shares of common stock issued to each selling shareholder of greenline were released in two equal installments on december 20 , 2008 and december 20 , 2009 , respectively .the value ascribed to the shares was discounted from the market value to reflect the non-marketability of such shares during the restriction period .the purchase price allocation is as follows ( in thousands ) : the amortizable intangibles include $ 3.2 million of acquired technology , $ 3.3 million of customer relationships , $ 1.3 million of non-competition agreements and $ 0.5 million of tradenames .useful lives of ten years and five years have been assigned to the customer relationships intangible and all other amortizable intangibles , respectively .the identifiable intangible assets and goodwill are not deductible for tax purposes .the following unaudited pro forma consolidated financial information reflects the results of operations of the company for the years ended december 31 , 2008 and 2007 , as if the acquisition of greenline had occurred as of the beginning of the period presented , after giving effect to certain purchase accounting adjustments .these pro forma results are not necessarily indicative of what the company 2019s operating results would have been had the acquisition actually taken place as of the beginning of the earliest period presented .the pro forma financial information 3 .acquisitions .
[['cash', '$ 6406'], ['accounts receivable', '2139'], ['amortizable intangibles', '8330'], ['goodwill', '29405'], ['deferred tax assets net', '3410'], ['other assets including investment in tradehelm', '1429'], ['accounts payable accrued expenses and deferred revenue', '-8701 ( 8701 )'], ['total purchase price', '$ 42418']]
.
|
what percentage of the purchase price makes up other assets including investment in tradehelm?
|
3.4%
|
{
"answer": "3.4%",
"decimal": 0.034,
"type": "percentage"
}
| |
operating profit for the segment increased by 15% ( 15 % ) in 2005 compared to 2004 .operating profit increased by $ 80 million at m&fc mainly due to improved performance on fire control and air defense programs .performance on surface systems programs contributed to an increase in operating profit of $ 50 million at ms2 .pt&ts operating profit increased $ 10 million primarily due to improved performance on simulation and training programs .the increase in backlog during 2006 over 2005 resulted primarily from increased orders on certain platform integration programs in pt&ts .space systems space systems 2019 operating results included the following : ( in millions ) 2006 2005 2004 .
[['( in millions )', '2006', '2005', '2004'], ['net sales', '$ 7923', '$ 6820', '$ 6359'], ['operating profit', '746', '609', '489'], ['backlog at year-end', '18768', '15925', '16112']]
net sales for space systems increased by 16% ( 16 % ) in 2006 compared to 2005 .during the year , sales growth in satellites and strategic & defensive missile systems ( s&dms ) offset declines in space transportation .the $ 1.1 billion growth in satellites sales was mainly due to higher volume on both government and commercial satellite programs .there were five commercial satellite deliveries in 2006 compared to no deliveries in 2005 .higher volume in both fleet ballistic missile and missile defense programs accounted for the $ 114 million sales increase at s&dms .in space transportation , sales declined $ 102 million primarily due to lower volume in government space transportation activities on the titan and external tank programs .increased sales on the atlas evolved expendable launch vehicle launch capabilities ( elc ) contract partially offset the lower government space transportation sales .net sales for space systems increased by 7% ( 7 % ) in 2005 compared to 2004 .during the year , sales growth in satellites and s&dms offset declines in space transportation .the $ 410 million increase in satellites sales was due to higher volume on government satellite programs that more than offset declines in commercial satellite activities .there were no commercial satellite deliveries in 2005 , compared to four in 2004 .increased sales of $ 235 million in s&dms were attributable to the fleet ballistic missile and missile defense programs .the $ 180 million decrease in space transportation 2019s sales was mainly due to having three atlas launches in 2005 compared to six in 2004 .operating profit for the segment increased 22% ( 22 % ) in 2006 compared to 2005 .operating profit increased in satellites , space transportation and s&dms .the $ 72 million growth in satellites operating profit was primarily driven by the volume and performance on government satellite programs and commercial satellite deliveries .in space transportation , the $ 39 million growth in operating profit was attributable to improved performance on the atlas program resulting from risk reduction activities , including the first quarter definitization of the elc contract .in s&dms , the $ 26 million increase in operating profit was due to higher volume and improved performance on both the fleet ballistic missile and missile defense programs .operating profit for the segment increased 25% ( 25 % ) in 2005 compared to 2004 .operating profit increased in space transportation , s&dms and satellites .in space transportation , the $ 60 million increase in operating profit was primarily attributable to improved performance on the atlas vehicle program .satellites 2019 operating profit increased $ 35 million due to the higher volume and improved performance on government satellite programs , which more than offset the decreased operating profit due to the decline in commercial satellite deliveries .the $ 20 million increase in s&dms was attributable to higher volume on fleet ballistic missile and missile defense programs .in december 2006 , we completed a transaction with boeing to form ula , a joint venture which combines the production , engineering , test and launch operations associated with u.s .government launches of our atlas launch vehicles and boeing 2019s delta launch vehicles ( see related discussion on our 201cspace business 201d under 201cindustry considerations 201d ) .we are accounting for our investment in ula under the equity method of accounting .as a result , our share of the net earnings or losses of ula are included in other income and expenses , and we will no longer recognize sales related to launch vehicle services provided to the u.s .government .in 2006 , we recorded sales to the u.s .government for atlas launch services totaling approximately $ 600 million .we have retained the right to market commercial atlas launch services .we contributed assets to ula , and ula assumed liabilities related to our atlas business in exchange for our 50% ( 50 % ) ownership interest .the net book value of the assets contributed and liabilities assumed was approximately $ 200 million at .
|
what were average operating profitfor space systems from 2004 to 2006 , in millions?
|
615
|
{
"answer": "615",
"decimal": 615,
"type": "float"
}
| |
table of contents marketaxess holdings inc .notes to consolidated financial statements 2014 ( continued ) of this standard had no material effect on the company 2019s consolidated statements of financial condition and consolidated statements of operations .reclassifications certain reclassifications have been made to the prior years 2019 financial statements in order to conform to the current year presentation .such reclassifications had no effect on previously reported net income .on march 5 , 2008 , the company acquired all of the outstanding capital stock of greenline financial technologies , inc .( 201cgreenline 201d ) , an illinois-based provider of integration , testing and management solutions for fix-related products and services designed to optimize electronic trading of fixed-income , equity and other exchange-based products , and approximately ten percent of the outstanding capital stock of tradehelm , inc. , a delaware corporation that was spun-out from greenline immediately prior to the acquisition .the acquisition of greenline broadens the range of technology services that the company offers to institutional financial markets , provides an expansion of the company 2019s client base , including global exchanges and hedge funds , and further diversifies the company 2019s revenues beyond the core electronic credit trading products .the results of operations of greenline are included in the consolidated financial statements from the date of the acquisition .the aggregate consideration for the greenline acquisition was $ 41.1 million , comprised of $ 34.7 million in cash , 725923 shares of common stock valued at $ 5.8 million and $ 0.6 million of acquisition-related costs .in addition , the sellers were eligible to receive up to an aggregate of $ 3.0 million in cash , subject to greenline attaining certain earn- out targets in 2008 and 2009 .a total of $ 1.4 million was paid to the sellers in 2009 based on the 2008 earn-out target , bringing the aggregate consideration to $ 42.4 million .the 2009 earn-out target was not met .a total of $ 2.0 million of the purchase price , which had been deposited into escrow accounts to satisfy potential indemnity claims , was distributed to the sellers in march 2009 .the shares of common stock issued to each selling shareholder of greenline were released in two equal installments on december 20 , 2008 and december 20 , 2009 , respectively .the value ascribed to the shares was discounted from the market value to reflect the non-marketability of such shares during the restriction period .the purchase price allocation is as follows ( in thousands ) : the amortizable intangibles include $ 3.2 million of acquired technology , $ 3.3 million of customer relationships , $ 1.3 million of non-competition agreements and $ 0.5 million of tradenames .useful lives of ten years and five years have been assigned to the customer relationships intangible and all other amortizable intangibles , respectively .the identifiable intangible assets and goodwill are not deductible for tax purposes .the following unaudited pro forma consolidated financial information reflects the results of operations of the company for the years ended december 31 , 2008 and 2007 , as if the acquisition of greenline had occurred as of the beginning of the period presented , after giving effect to certain purchase accounting adjustments .these pro forma results are not necessarily indicative of what the company 2019s operating results would have been had the acquisition actually taken place as of the beginning of the earliest period presented .the pro forma financial information 3 .acquisitions .
[['cash', '$ 6406'], ['accounts receivable', '2139'], ['amortizable intangibles', '8330'], ['goodwill', '29405'], ['deferred tax assets net', '3410'], ['other assets including investment in tradehelm', '1429'], ['accounts payable accrued expenses and deferred revenue', '-8701 ( 8701 )'], ['total purchase price', '$ 42418']]
.
|
what percentage of the purchase price makes up goodwill?
|
69.3%
|
{
"answer": "69.3%",
"decimal": 0.693,
"type": "percentage"
}
| |
mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) upon termination of employment , excluding retirement , all of a participant 2019s unvested awards are forfeited .however , when a participant terminates employment due to retirement , the participant generally retains all of their awards without providing additional service to the company .eligible retirement is dependent upon age and years of service , as follows : age 55 with ten years of service , age 60 with five years of service and age 65 with two years of service .compensation expense is recognized over the shorter of the vesting periods stated in the ltip , or the date the individual becomes eligible to retire .there are 11550 shares of class a common stock reserved for equity awards under the ltip .although the ltip permits the issuance of shares of class b common stock , no such shares have been reserved for issuance .shares issued as a result of option exercises and the conversions of rsus are expected to be funded with the issuance of new shares of class a common stock .stock options the fair value of each option is estimated on the date of grant using a black-scholes option pricing model .the following table presents the weighted-average assumptions used in the valuation and the resulting weighted- average fair value per option granted for the years ended december 31: .
[['', '2009', '2008', '2007'], ['risk-free rate of return', '2.5% ( 2.5 % )', '3.2% ( 3.2 % )', '4.4% ( 4.4 % )'], ['expected term ( in years )', '6.17', '6.25', '6.25'], ['expected volatility', '41.7% ( 41.7 % )', '37.9% ( 37.9 % )', '30.9% ( 30.9 % )'], ['expected dividend yield', '0.4% ( 0.4 % )', '0.3% ( 0.3 % )', '0.6% ( 0.6 % )'], ['weighted-average fair value per option granted', '$ 71.03', '$ 78.54', '$ 41.03']]
the risk-free rate of return was based on the u.s .treasury yield curve in effect on the date of grant .the company utilizes the simplified method for calculating the expected term of the option based on the vesting terms and the contractual life of the option .the expected volatility for options granted during 2009 was based on the average of the implied volatility of mastercard and a blend of the historical volatility of mastercard and the historical volatility of a group of companies that management believes is generally comparable to mastercard .the expected volatility for options granted during 2008 was based on the average of the implied volatility of mastercard and the historical volatility of a group of companies that management believes is generally comparable to mastercard .as the company did not have sufficient publicly traded stock data historically , the expected volatility for options granted during 2007 was primarily based on the average of the historical and implied volatility of a group of companies that management believed was generally comparable to mastercard .the expected dividend yields were based on the company 2019s expected annual dividend rate on the date of grant. .
|
what was the percent of the change in the risk-free rate of return from 2008 to 2009
|
21.9%
|
{
"answer": "21.9%",
"decimal": 0.21899999999999997,
"type": "percentage"
}
| |
fhlb advances and other borrowings fhlb advances 2014the company had $ 0.7 billion in floating-rate and $ 0.2 billion in fixed-rate fhlb advances at both december 31 , 2013 and 2012 .the floating-rate advances adjust quarterly based on the libor .during the year ended december 31 , 2012 , $ 650.0 million of fixed-rate fhlb advances were converted to floating-rate for a total cost of approximately $ 128 million which was capitalized and will be amortized over the remaining maturities using the effective interest method .in addition , during the year ended december 31 , 2012 , the company paid down in advance of maturity $ 1.0 billion of its fhlb advances and recorded $ 69.1 million in losses on the early extinguishment .this loss was recorded in the gains ( losses ) on early extinguishment of debt line item in the consolidated statement of income ( loss ) .the company did not have any similar transactions for the years ended december 31 , 2013 and 2011 .as a condition of its membership in the fhlb atlanta , the company is required to maintain a fhlb stock investment currently equal to the lesser of : a percentage of 0.12% ( 0.12 % ) of total bank assets ; or a dollar cap amount of $ 20 million .additionally , the bank must maintain an activity based stock investment which is currently equal to 4.5% ( 4.5 % ) of the bank 2019s outstanding advances at the time of borrowing .the company had an investment in fhlb stock of $ 61.4 million and $ 67.4 million at december 31 , 2013 and 2012 , respectively .the company must also maintain qualified collateral as a percent of its advances , which varies based on the collateral type , and is further adjusted by the outcome of the most recent annual collateral audit and by fhlb 2019s internal ranking of the bank 2019s creditworthiness .these advances are secured by a pool of mortgage loans and mortgage-backed securities .at december 31 , 2013 and 2012 , the company pledged loans with a lendable value of $ 3.9 billion and $ 4.8 billion , respectively , of the one- to four-family and home equity loans as collateral in support of both its advances and unused borrowing lines .other borrowings 2014prior to 2008 , etbh raised capital through the formation of trusts , which sold trust preferred securities in the capital markets .the capital securities must be redeemed in whole at the due date , which is generally 30 years after issuance .each trust issued floating rate cumulative preferred securities ( 201ctrust preferred securities 201d ) , at par with a liquidation amount of $ 1000 per capital security .the trusts used the proceeds from the sale of issuances to purchase floating rate junior subordinated debentures ( 201csubordinated debentures 201d ) issued by etbh , which guarantees the trust obligations and contributed proceeds from the sale of its subordinated debentures to e*trade bank in the form of a capital contribution .the most recent issuance of trust preferred securities occurred in 2007 .the face values of outstanding trusts at december 31 , 2013 are shown below ( dollars in thousands ) : trusts face value maturity date annual interest rate .
[['trusts', 'face value', 'maturity date', 'annual interest rate'], ['etbh capital trust ii', '$ 5000', '2031', '10.25% ( 10.25 % )'], ['etbh capital trust i', '20000', '2031', '3.75% ( 3.75 % ) above 6-month libor'], ['etbh capital trust v vi viii', '51000', '2032', '3.25%-3.65% ( 3.25%-3.65 % ) above 3-month libor'], ['etbh capital trust vii ix 2014xii', '65000', '2033', '3.00%-3.30% ( 3.00%-3.30 % ) above 3-month libor'], ['etbh capital trust xiii 2014xviii xx', '77000', '2034', '2.45%-2.90% ( 2.45%-2.90 % ) above 3-month libor'], ['etbh capital trust xix xxi xxii', '60000', '2035', '2.20%-2.40% ( 2.20%-2.40 % ) above 3-month libor'], ['etbh capital trust xxiii 2014xxiv', '45000', '2036', '2.10% ( 2.10 % ) above 3-month libor'], ['etbh capital trust xxv 2014xxx', '110000', '2037', '1.90%-2.00% ( 1.90%-2.00 % ) above 3-month libor'], ['total', '$ 433000', '', '']]
.
|
what was the ratio of the company investment in fhlb stock of for 2013 to 2012
|
0.91
|
{
"answer": "0.91",
"decimal": 0.91,
"type": "float"
}
|
in 2013 the company investment $ 0.91 in fhlb stock for each $ 1 in 2012
|
management 2019s discussion and analysis 110 jpmorgan chase & co./2013 annual report 2012 compared with 2011 net loss was $ 2.0 billion , compared with a net income of $ 919 million in the prior year .private equity reported net income of $ 292 million , compared with net income of $ 391 million in the prior year .net revenue was $ 601 million , compared with $ 836 million in the prior year , due to lower unrealized and realized gains on private investments , partially offset by higher unrealized gains on public securities .noninterest expense was $ 145 million , down from $ 238 million in the prior year .treasury and cio reported a net loss of $ 2.1 billion , compared with net income of $ 1.3 billion in the prior year .net revenue was a loss of $ 3.1 billion , compared with net revenue of $ 3.2 billion in the prior year .the current year loss reflected $ 5.8 billion of losses incurred by cio from the synthetic credit portfolio for the six months ended june 30 , 2012 , and $ 449 million of losses from the retained index credit derivative positions for the three months ended september 30 , 2012 .these losses were partially offset by securities gains of $ 2.0 billion .the current year revenue reflected $ 888 million of extinguishment gains related to the redemption of trust preferred securities , which are included in all other income in the above table .the extinguishment gains were related to adjustments applied to the cost basis of the trust preferred securities during the period they were in a qualified hedge accounting relationship .net interest income was negative $ 683 million , compared with $ 1.4 billion in the prior year , primarily reflecting the impact of lower portfolio yields and higher deposit balances across the firm .other corporate reported a net loss of $ 221 million , compared with a net loss of $ 821 million in the prior year .noninterest revenue of $ 1.8 billion was driven by a $ 1.1 billion benefit for the washington mutual bankruptcy settlement , which is included in all other income in the above table , and a $ 665 million gain from the recovery on a bear stearns-related subordinated loan .noninterest expense of $ 3.8 billion was up $ 1.0 billion compared with the prior year .the current year included expense of $ 3.7 billion for additional litigation reserves , largely for mortgage-related matters .the prior year included expense of $ 3.2 billion for additional litigation reserves .treasury and cio overview treasury and cio are predominantly responsible for measuring , monitoring , reporting and managing the firm 2019s liquidity , funding and structural interest rate and foreign exchange risks , as well as executing the firm 2019s capital plan .the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases , which generate both on- and off-balance sheet assets and liabilities .cio achieves the firm 2019s asset-liability management objectives generally by investing in high-quality securities that are managed for the longer-term as part of the firm 2019s afs and htm investment securities portfolios ( the 201cinvestment securities portfolio 201d ) .cio also uses derivatives , as well as securities that are not classified as afs or htm , to meet the firm 2019s asset-liability management objectives .for further information on derivatives , see note 6 on pages 220 2013233 of this annual report .for further information about securities not classified within the afs or htm portfolio , see note 3 on pages 195 2013215 of this annual report .the treasury and cio investment securities portfolio primarily consists of u.s .and non-u.s .government securities , agency and non-agency mortgage-backed securities , other asset-backed securities , corporate debt securities and obligations of u.s .states and municipalities .at december 31 , 2013 , the total treasury and cio investment securities portfolio was $ 347.6 billion ; the average credit rating of the securities comprising the treasury and cio investment securities portfolio was aa+ ( based upon external ratings where available and where not available , based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s ) .see note 12 on pages 249 2013254 of this annual report for further information on the details of the firm 2019s investment securities portfolio .for further information on liquidity and funding risk , see liquidity risk management on pages 168 2013173 of this annual report .for information on interest rate , foreign exchange and other risks , treasury and cio value-at-risk ( 201cvar 201d ) and the firm 2019s structural interest rate-sensitive revenue at risk , see market risk management on pages 142 2013148 of this annual report .selected income statement and balance sheet data as of or for the year ended december 31 , ( in millions ) 2013 2012 2011 .
[['as of or for the year ended december 31 ( in millions )', '2013', '2012', '2011'], ['securities gains', '$ 659', '$ 2028', '$ 1385'], ['investment securities portfolio ( average )', '353712', '358029', '330885'], ['investment securities portfolio ( period 2013end ) ( a )', '347562', '365421', '355605'], ['mortgage loans ( average )', '5145', '10241', '13006'], ['mortgage loans ( period-end )', '3779', '7037', '13375']]
( a ) period-end investment securities included held-to-maturity balance of $ 24.0 billion at december 31 , 2013 .held-to-maturity balances for the other periods were not material. .
|
in 2013 , what was the balance in the investment securities portfolio without htm securities , in us$ b?
|
323.6
|
{
"answer": "323.6",
"decimal": 323.6,
"type": "float"
}
| |
57 annual report 2009 duke realty corporation | | use of estimates the preparation of the financial statements requires management to make a number of estimates and assumptions that affect the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period .the most significant estimates , as discussed within our summary of significant accounting policies , pertain to the critical assumptions utilized in testing real estate assets for impairment as well as in estimating the fair value of real estate assets when an impairment event has taken place .actual results could differ from those estimates .( 3 ) significant acquisitions and dispositions consolidation of retail joint ventures through march 31 , 2009 , we were a member in two retail real estate joint ventures with a retail developer .both entities were jointly controlled by us and our partner , through equal voting interests , and were accounted for as unconsolidated subsidiaries under the equity method .as of april 1 , 2009 , we had made combined equity contributions of $ 37.9 million to the two entities and we also had combined outstanding principal and accrued interest of $ 173.0 million on advances to the two entities .we advanced $ 2.0 million to the two entities , who then distributed the $ 2.0 million to our partner in exchange for the redemption of our partner 2019s membership interests , effective april 1 , 2009 , at which time we obtained 100% ( 100 % ) control of the voting interests of both entities .we entered these transactions to gain control of these two entities because it will allow us to operate or dispose of the entities in a manner that best serves our capital needs .in conjunction with the redemption of our partner 2019s membership interests , we entered a profits interest agreement that entitles our former partner to additional payments should the combined sale of the two acquired entities , as well as the sale of another retail real estate joint venture that we and our partner still jointly control , result in an aggregate profit .aggregate profit on the sale of these three projects will be calculated by using a formula defined in the profits interest agreement .we have estimated that the fair value of the potential additional payment to our partner is insignificant .a summary of the fair value of amounts recognized for each major class of assets and liabilities acquired is as follows ( in thousands ) : .
[['operating rental properties', '$ 176038'], ['undeveloped land', '6500'], ['total real estate investments', '182538'], ['other assets', '3987'], ['lease related intangible assets', '24350'], ['total assets acquired', '210875'], ['liabilities assumed', '-4023 ( 4023 )'], ['net recognized value of acquired assets and liabilities', '$ 206852']]
the fair values recognized from the real estate and related assets acquired were primarily determined using the income approach .the most significant assumptions in the fair value estimates were the discount rates and the exit capitalization rates .the estimates of fair value were determined to have primarily relied upon level 3 inputs. .
|
of the total real estate investments what was the percent of operating rental properties
|
96.4%
|
{
"answer": "96.4%",
"decimal": 0.9640000000000001,
"type": "percentage"
}
|
96.4% of the total real estate investments was operating rental properties
|
$ 43.3 million in 2011 compared to $ 34.1 million in 2010 .the retail segment represented 13% ( 13 % ) and 15% ( 15 % ) of the company 2019s total net sales in 2011 and 2010 , respectively .the retail segment 2019s operating income was $ 4.7 billion , $ 3.2 billion , and $ 2.3 billion during 2012 , 2011 , and 2010 respectively .these year-over-year increases in retail operating income were primarily attributable to higher overall net sales that resulted in significantly higher average revenue per store during the respective years .gross margin gross margin for 2012 , 2011 and 2010 are as follows ( in millions , except gross margin percentages ) : .
[['', '2012', '2011', '2010'], ['net sales', '$ 156508', '$ 108249', '$ 65225'], ['cost of sales', '87846', '64431', '39541'], ['gross margin', '$ 68662', '$ 43818', '$ 25684'], ['gross margin percentage', '43.9% ( 43.9 % )', '40.5% ( 40.5 % )', '39.4% ( 39.4 % )']]
the gross margin percentage in 2012 was 43.9% ( 43.9 % ) , compared to 40.5% ( 40.5 % ) in 2011 .this year-over-year increase in gross margin was largely driven by lower commodity and other product costs , a higher mix of iphone sales , and improved leverage on fixed costs from higher net sales .the increase in gross margin was partially offset by the impact of a stronger u.s .dollar .the gross margin percentage during the first half of 2012 was 45.9% ( 45.9 % ) compared to 41.4% ( 41.4 % ) during the second half of 2012 .the primary drivers of higher gross margin in the first half of 2012 compared to the second half are a higher mix of iphone sales and improved leverage on fixed costs from higher net sales .additionally , gross margin in the second half of 2012 was also affected by the introduction of new products with flat pricing that have higher cost structures and deliver greater value to customers , price reductions on certain existing products , higher transition costs associated with product launches , and continued strengthening of the u.s .dollar ; partially offset by lower commodity costs .the gross margin percentage in 2011 was 40.5% ( 40.5 % ) , compared to 39.4% ( 39.4 % ) in 2010 .this year-over-year increase in gross margin was largely driven by lower commodity and other product costs .the company expects to experience decreases in its gross margin percentage in future periods , as compared to levels achieved during 2012 , and the company anticipates gross margin of about 36% ( 36 % ) during the first quarter of 2013 .expected future declines in gross margin are largely due to a higher mix of new and innovative products with flat or reduced pricing that have higher cost structures and deliver greater value to customers and anticipated component cost and other cost increases .future strengthening of the u.s .dollar could further negatively impact gross margin .the foregoing statements regarding the company 2019s expected gross margin percentage in future periods , including the first quarter of 2013 , are forward-looking and could differ from actual results because of several factors including , but not limited to those set forth above in part i , item 1a of this form 10-k under the heading 201crisk factors 201d and those described in this paragraph .in general , gross margins and margins on individual products will remain under downward pressure due to a variety of factors , including continued industry wide global product pricing pressures , increased competition , compressed product life cycles , product transitions and potential increases in the cost of components , as well as potential increases in the costs of outside manufacturing services and a potential shift in the company 2019s sales mix towards products with lower gross margins .in response to competitive pressures , the company expects it will continue to take product pricing actions , which would adversely affect gross margins .gross margins could also be affected by the company 2019s ability to manage product quality and warranty costs effectively and to stimulate demand for certain of its products .due to the company 2019s significant international operations , financial results can be significantly affected in the short-term by fluctuations in exchange rates. .
|
what was the increase in gross margin percentage between 2012 compared to 2011?
|
3.4
|
{
"answer": "3.4",
"decimal": 3.4,
"type": "float"
}
| |
in february 2007 , the fasb issued sfas no .159 201cthe fair value option for financial assets and liabilities 2014including an amendment of fasb statement no .115 201d ( sfas no .159 ) .this statement provides companies with an option to report selected financial assets and liabilities at fair value and establishes presentation and disclosure requirements designed to facilitate comparisons between companies that choose different measurement attributes for similar types of assets and liabilities .sfas no .159 is effective for us as of january 1 , 2008 .we are in the process of evaluating the impact that sfas no .159 will have on our consolidated financial statements .information presented pursuant to the indentures of our 7.50% ( 7.50 % ) notes , 7.125% ( 7.125 % ) notes and ati 7.25% ( 7.25 % ) the following table sets forth information that is presented solely to address certain tower cash flow reporting requirements contained in the indentures for our 7.50% ( 7.50 % ) notes , 7.125% ( 7.125 % ) notes and ati 7.25% ( 7.25 % ) notes ( collectively , the notes ) .the information contained in note 20 to our consolidated financial statements is also presented to address certain reporting requirements contained in the indenture for our ati 7.25% ( 7.25 % ) notes .the indentures governing the notes contain restrictive covenants with which we and certain subsidiaries under these indentures must comply .these include restrictions on our ability to incur additional debt , guarantee debt , pay dividends and make other distributions and make certain investments .any failure to comply with these covenants would constitute a default , which could result in the acceleration of the principal amount and accrued and unpaid interest on all the outstanding notes .in order for the holders of the notes to assess our compliance with certain of these covenants , the indentures require us to disclose in the periodic reports we file with the sec our tower cash flow , adjusted consolidated cash flow and non-tower cash flow ( each as defined in the indentures ) .under the indentures , our ability to make certain types of restricted payments is limited by the amount of adjusted consolidated cash flow that we generate , which is determined based on our tower cash flow and non-tower cash flow .in addition , the indentures for the notes restrict us from incurring additional debt or issuing certain types of preferred stock if on a pro forma basis the issuance of such debt and preferred stock would cause our consolidated debt to be greater than 7.5 times our adjusted consolidated cash flow .as of december 31 , 2006 , the ratio of our consolidated debt to adjusted consolidated cash flow was approximately 4.6 .for more information about the restrictions under our notes indentures , see note 7 to our consolidated financial statements included in this annual report and the section entitled 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity . 201d tower cash flow , adjusted consolidated cash flow and non-tower cash flow are considered non-gaap financial measures .we are required to provide these financial metrics by the indentures for the notes , and we have included them below because we consider the indentures for the notes to be material agreements , the covenants related to tower cash flow , adjusted consolidated cash flow and non-tower cash flow to be material terms of the indentures , and information about compliance with such covenants to be material to an investor 2019s understanding of our financial results and the impact of those results on our liquidity .these financial metrics do not include the results of spectrasite or its subsidiaries because such entities are unrestricted subsidiaries under the indentures for the notes .the following table presents tower cash flow , adjusted consolidated cash flow and non-tower cash flow for the company and its restricted subsidiaries , as defined in the indentures for the applicable notes ( in thousands ) : .
[['tower cash flow for the three months ended december 31 2006', '$ 157311'], ['consolidated cash flow for the twelve months ended december 31 2006', '$ 591 050'], ['less : tower cash flow for the twelve months ended december 31 2006', '-612366 ( 612366 )'], ['plus : four times tower cash flow for the three months ended december 31 2006', '629244'], ['adjusted consolidated cash flow for the twelve months ended december 31 2006', '$ 607928'], ['non-tower cash flow for the twelve months ended december 31 2006', '$ -22614 ( 22614 )']]
.
|
what portion of the adjusted consolidated cash flow for the twelve months ended december 31 , 2006 is related to non-tower cash flow?
|
-3.7%
|
{
"answer": "-3.7%",
"decimal": -0.037000000000000005,
"type": "percentage"
}
| |
the following table sets forth the components of foreign currency translation adjustments for fiscal 2011 , 2010 and 2009 ( in thousands ) : beginning balance foreign currency translation adjustments income tax effect relating to translation adjustments for undistributed foreign earnings ending balance $ 7632 ( 2208 ) $ 10580 $ 10640 ( 4144 ) $ 7632 $ ( 431 ) 17343 ( 6272 ) $ 10640 stock repurchase program to facilitate our stock repurchase program , designed to return value to our stockholders and minimize dilution from stock issuances , we repurchase shares in the open market and also enter into structured repurchase agreements with third-parties .authorization to repurchase shares to cover on-going dilution was not subject to expiration .however , this repurchase program was limited to covering net dilution from stock issuances and was subject to business conditions and cash flow requirements as determined by our board of directors from time to time .during the third quarter of fiscal 2010 , our board of directors approved an amendment to our stock repurchase program authorized in april 2007 from a non-expiring share-based authority to a time-constrained dollar-based authority .as part of this amendment , the board of directors granted authority to repurchase up to $ 1.6 billion in common stock through the end of fiscal 2012 .this amended program did not affect the $ 250.0 million structured stock repurchase agreement entered into during march 2010 .as of december 3 , 2010 , no prepayments remain under that agreement .during fiscal 2011 , 2010 and 2009 , we entered into several structured repurchase agreements with large financial institutions , whereupon we provided the financial institutions with prepayments totaling $ 695.0 million , $ 850.0 million and $ 350.0 million , respectively .of the $ 850.0 million of prepayments during fiscal 2010 , $ 250.0 million was under the stock repurchase program prior to the program amendment and the remaining $ 600.0 million was under the amended $ 1.6 billion time-constrained dollar- based authority .we enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the volume weighted average price ( 201cvwap 201d ) of our common stock over a specified period of time .we only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions .there were no explicit commissions or fees on these structured repurchases .under the terms of the agreements , there is no requirement for the financial institutions to return any portion of the prepayment to us .the financial institutions agree to deliver shares to us at monthly intervals during the contract term .the parameters used to calculate the number of shares deliverable are : the total notional amount of the contract , the number of trading days in the contract , the number of trading days in the interval and the average vwap of our stock during the interval less the agreed upon discount .during fiscal 2011 , we repurchased approximately 21.8 million shares at an average price of $ 31.81 through structured repurchase agreements entered into during fiscal 2011 .during fiscal 2010 , we repurchased approximately 31.2 million shares at an average price of $ 29.19 through structured repurchase agreements entered into during fiscal 2009 and fiscal 2010 .during fiscal 2009 , we repurchased approximately 15.2 million shares at an average price per share of $ 27.89 through structured repurchase agreements entered into during fiscal 2008 and fiscal 2009 .for fiscal 2011 , 2010 and 2009 , the prepayments were classified as treasury stock on our consolidated balance sheets at the payment date , though only shares physically delivered to us by december 2 , 2011 , december 3 , 2010 and november 27 , 2009 were excluded from the computation of earnings per share .as of december 2 , 2011 and december 3 , 2010 , no prepayments remained under these agreements .as of november 27 , 2009 , approximately $ 59.9 million of prepayments remained under these agreements .subsequent to december 2 , 2011 , as part of our $ 1.6 billion stock repurchase program , we entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $ 80.0 million .this amount will be classified as treasury stock on our consolidated balance sheets .upon completion of the $ 80.0 million stock table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) jarcamo typewritten text .
[['', '2011', '2010', '2009'], ['beginning balance', '$ 7632', '$ 10640', '$ -431 ( 431 )'], ['foreign currency translation adjustments', '5156', '-4144 ( 4144 )', '17343'], ['income tax effect relating to translation adjustments forundistributed foreign earnings', '-2208 ( 2208 )', '1136', '-6272 ( 6272 )'], ['ending balance', '$ 10580', '$ 7632', '$ 10640']]
the following table sets forth the components of foreign currency translation adjustments for fiscal 2011 , 2010 and 2009 ( in thousands ) : beginning balance foreign currency translation adjustments income tax effect relating to translation adjustments for undistributed foreign earnings ending balance $ 7632 ( 2208 ) $ 10580 $ 10640 ( 4144 ) $ 7632 $ ( 431 ) 17343 ( 6272 ) $ 10640 stock repurchase program to facilitate our stock repurchase program , designed to return value to our stockholders and minimize dilution from stock issuances , we repurchase shares in the open market and also enter into structured repurchase agreements with third-parties .authorization to repurchase shares to cover on-going dilution was not subject to expiration .however , this repurchase program was limited to covering net dilution from stock issuances and was subject to business conditions and cash flow requirements as determined by our board of directors from time to time .during the third quarter of fiscal 2010 , our board of directors approved an amendment to our stock repurchase program authorized in april 2007 from a non-expiring share-based authority to a time-constrained dollar-based authority .as part of this amendment , the board of directors granted authority to repurchase up to $ 1.6 billion in common stock through the end of fiscal 2012 .this amended program did not affect the $ 250.0 million structured stock repurchase agreement entered into during march 2010 .as of december 3 , 2010 , no prepayments remain under that agreement .during fiscal 2011 , 2010 and 2009 , we entered into several structured repurchase agreements with large financial institutions , whereupon we provided the financial institutions with prepayments totaling $ 695.0 million , $ 850.0 million and $ 350.0 million , respectively .of the $ 850.0 million of prepayments during fiscal 2010 , $ 250.0 million was under the stock repurchase program prior to the program amendment and the remaining $ 600.0 million was under the amended $ 1.6 billion time-constrained dollar- based authority .we enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the volume weighted average price ( 201cvwap 201d ) of our common stock over a specified period of time .we only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions .there were no explicit commissions or fees on these structured repurchases .under the terms of the agreements , there is no requirement for the financial institutions to return any portion of the prepayment to us .the financial institutions agree to deliver shares to us at monthly intervals during the contract term .the parameters used to calculate the number of shares deliverable are : the total notional amount of the contract , the number of trading days in the contract , the number of trading days in the interval and the average vwap of our stock during the interval less the agreed upon discount .during fiscal 2011 , we repurchased approximately 21.8 million shares at an average price of $ 31.81 through structured repurchase agreements entered into during fiscal 2011 .during fiscal 2010 , we repurchased approximately 31.2 million shares at an average price of $ 29.19 through structured repurchase agreements entered into during fiscal 2009 and fiscal 2010 .during fiscal 2009 , we repurchased approximately 15.2 million shares at an average price per share of $ 27.89 through structured repurchase agreements entered into during fiscal 2008 and fiscal 2009 .for fiscal 2011 , 2010 and 2009 , the prepayments were classified as treasury stock on our consolidated balance sheets at the payment date , though only shares physically delivered to us by december 2 , 2011 , december 3 , 2010 and november 27 , 2009 were excluded from the computation of earnings per share .as of december 2 , 2011 and december 3 , 2010 , no prepayments remained under these agreements .as of november 27 , 2009 , approximately $ 59.9 million of prepayments remained under these agreements .subsequent to december 2 , 2011 , as part of our $ 1.6 billion stock repurchase program , we entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $ 80.0 million .this amount will be classified as treasury stock on our consolidated balance sheets .upon completion of the $ 80.0 million stock table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) jarcamo typewritten text .
|
for 2011 , was the impact of foreign currency translation adjustments greater than the income tax effect relating to translation adjustments for undistributed foreign earnings?
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements the allocation of the purchase price was finalized during the year ended december 31 , 2012 .the following table summarizes the allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : purchase price allocation .
[['', 'final purchase price allocation'], ['non-current assets', '$ 2'], ['property and equipment', '3590'], ['intangible assets ( 1 )', '1062'], ['other non-current liabilities', '-91 ( 91 )'], ['fair value of net assets acquired', '$ 4563'], ['goodwill ( 2 )', '89']]
( 1 ) consists of customer-related intangibles of approximately $ 0.4 million and network location intangibles of approximately $ 0.7 million .the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .( 2 ) the company expects that the goodwill recorded will be deductible for tax purposes .the goodwill was allocated to the company 2019s international rental and management segment .colombia 2014colombia movil acquisition 2014on july 17 , 2011 , the company entered into a definitive agreement with colombia movil s.a .e.s.p .( 201ccolombia movil 201d ) , whereby atc sitios infraco , s.a.s. , a colombian subsidiary of the company ( 201catc infraco 201d ) , would purchase up to 2126 communications sites from colombia movil for an aggregate purchase price of approximately $ 182.0 million .from december 21 , 2011 through the year ended december 31 , 2012 , atc infraco completed the purchase of 1526 communications sites for an aggregate purchase price of $ 136.2 million ( including contingent consideration of $ 17.3 million ) , subject to post-closing adjustments .through a subsidiary , millicom international cellular s.a .( 201cmillicom 201d ) exercised its option to acquire an indirect , substantial non-controlling interest in atc infraco .under the terms of the agreement , the company is required to make additional payments upon the conversion of certain barter agreements with other wireless carriers to cash paying lease agreements .based on the company 2019s current estimates , the value of potential contingent consideration payments required to be made under the amended agreement is expected to be between zero and $ 32.8 million and is estimated to be $ 17.3 million using a probability weighted average of the expected outcomes at december 31 , 2012 .during the year ended december 31 , 2012 , the company recorded a reduction in fair value of $ 1.2 million , which is included in other operating expenses in the consolidated statements of operations. .
|
what was the cost per tower in the colombia movil acquisition?
|
856067
|
{
"answer": "856067",
"decimal": 856067,
"type": "float"
}
| |
jpmorgan chase & co./2014 annual report 291 therefore , are not recorded on the consolidated balance sheets until settlement date .the unsettled reverse repurchase agreements and securities borrowing agreements predominantly consist of agreements with regular-way settlement periods .loan sales- and securitization-related indemnifications mortgage repurchase liability in connection with the firm 2019s mortgage loan sale and securitization activities with the gses , as described in note 16 , the firm has made representations and warranties that the loans sold meet certain requirements .the firm has been , and may be , required to repurchase loans and/or indemnify the gses ( e.g. , with 201cmake-whole 201d payments to reimburse the gses for their realized losses on liquidated loans ) .to the extent that repurchase demands that are received relate to loans that the firm purchased from third parties that remain viable , the firm typically will have the right to seek a recovery of related repurchase losses from the third party .generally , the maximum amount of future payments the firm would be required to make for breaches of these representations and warranties would be equal to the unpaid principal balance of such loans that are deemed to have defects that were sold to purchasers ( including securitization-related spes ) plus , in certain circumstances , accrued interest on such loans and certain expense .the following table summarizes the change in the mortgage repurchase liability for each of the periods presented .summary of changes in mortgage repurchase liability ( a ) year ended december 31 , ( in millions ) 2014 2013 2012 repurchase liability at beginning of period $ 681 $ 2811 $ 3557 net realized gains/ ( losses ) ( b ) 53 ( 1561 ) ( 1158 ) .
[['year ended december 31 ( in millions )', '2014', '2013', '2012'], ['repurchase liability at beginning of period', '$ 681', '$ 2811', '$ 3557'], ['net realized gains/ ( losses ) ( b )', '53', '-1561 ( 1561 )', '-1158 ( 1158 )'], ['reclassification to litigation reserve', '2014', '-179 ( 179 )', '2014'], ['( benefit ) /provision for repurchase ( c )', '-459 ( 459 )', '-390 ( 390 )', '412'], ['repurchase liability at end of period', '$ 275', '$ 681', '$ 2811']]
( benefit ) /provision for repurchase ( c ) ( 459 ) ( 390 ) 412 repurchase liability at end of period $ 275 $ 681 $ 2811 ( a ) on october 25 , 2013 , the firm announced that it had reached a $ 1.1 billion agreement with the fhfa to resolve , other than certain limited types of exposures , outstanding and future mortgage repurchase demands associated with loans sold to the gses from 2000 to 2008 .( b ) presented net of third-party recoveries and included principal losses and accrued interest on repurchased loans , 201cmake-whole 201d settlements , settlements with claimants , and certain related expense .make-whole settlements were $ 11 million , $ 414 million and $ 524 million , for the years ended december 31 , 2014 , 2013 and 2012 , respectively .( c ) included a provision related to new loan sales of $ 4 million , $ 20 million and $ 112 million , for the years ended december 31 , 2014 , 2013 and 2012 , respectively .private label securitizations the liability related to repurchase demands associated with private label securitizations is separately evaluated by the firm in establishing its litigation reserves .on november 15 , 2013 , the firm announced that it had reached a $ 4.5 billion agreement with 21 major institutional investors to make a binding offer to the trustees of 330 residential mortgage-backed securities trusts issued by j.p.morgan , chase , and bear stearns ( 201crmbs trust settlement 201d ) to resolve all representation and warranty claims , as well as all servicing claims , on all trusts issued by j.p .morgan , chase , and bear stearns between 2005 and 2008 .the seven trustees ( or separate and successor trustees ) for this group of 330 trusts have accepted the rmbs trust settlement for 319 trusts in whole or in part and excluded from the settlement 16 trusts in whole or in part .the trustees 2019 acceptance is subject to a judicial approval proceeding initiated by the trustees , which is pending in new york state court .in addition , from 2005 to 2008 , washington mutual made certain loan level representations and warranties in connection with approximately $ 165 billion of residential mortgage loans that were originally sold or deposited into private-label securitizations by washington mutual .of the $ 165 billion , approximately $ 78 billion has been repaid .in addition , approximately $ 49 billion of the principal amount of such loans has liquidated with an average loss severity of 59% ( 59 % ) .accordingly , the remaining outstanding principal balance of these loans as of december 31 , 2014 , was approximately $ 38 billion , of which $ 8 billion was 60 days or more past due .the firm believes that any repurchase obligations related to these loans remain with the fdic receivership .for additional information regarding litigation , see note 31 .loans sold with recourse the firm provides servicing for mortgages and certain commercial lending products on both a recourse and nonrecourse basis .in nonrecourse servicing , the principal credit risk to the firm is the cost of temporary servicing advances of funds ( i.e. , normal servicing advances ) .in recourse servicing , the servicer agrees to share credit risk with the owner of the mortgage loans , such as fannie mae or freddie mac or a private investor , insurer or guarantor .losses on recourse servicing predominantly occur when foreclosure sales proceeds of the property underlying a defaulted loan are less than the sum of the outstanding principal balance , plus accrued interest on the loan and the cost of holding and disposing of the underlying property .the firm 2019s securitizations are predominantly nonrecourse , thereby effectively transferring the risk of future credit losses to the purchaser of the mortgage-backed securities issued by the trust .at december 31 , 2014 and 2013 , the unpaid principal balance of loans sold with recourse totaled $ 6.1 billion and $ 7.7 billion , respectively .the carrying value of the related liability that the firm has recorded , which is representative of the firm 2019s view of the likelihood it .
|
in 2013 , without the reclassification to litigation reserve , what would the ending balance of repurchase liability bein millions?
|
860
|
{
"answer": "860",
"decimal": 860,
"type": "float"
}
| |
course of business , we actively manage our exposure to these market risks by entering into various hedging transactions , authorized under established policies that place clear controls on these activities .the counterparties in these transactions are generally highly rated institutions .we establish credit limits for each counterparty .our hedging transactions include but are not limited to a variety of derivative financial instruments .for information on interest rate , foreign exchange , commodity price , and equity instrument risk , please see note 7 to the consolidated financial statements in item 8 of this report .value at risk the estimates in the table below are intended to measure the maximum potential fair value we could lose in one day from adverse changes in market interest rates , foreign exchange rates , commodity prices , and equity prices under normal market conditions .a monte carlo value-at-risk ( var ) methodology was used to quantify the market risk for our exposures .the models assumed normal market conditions and used a 95 percent confidence level .the var calculation used historical interest and foreign exchange rates , and commodity and equity prices from the past year to estimate the potential volatility and correlation of these rates in the future .the market data were drawn from the riskmetrics 2122 data set .the calculations are not intended to represent actual losses in fair value that we expect to incur .further , since the hedging instrument ( the derivative ) inversely correlates with the underlying exposure , we would expect that any loss or gain in the fair value of our derivatives would be generally offset by an increase or decrease in the fair value of the underlying exposure .the positions included in the calculations were : debt ; investments ; interest rate swaps ; foreign exchange forwards ; commodity swaps , futures , and options ; and equity instruments .the calculations do not include the underlying foreign exchange and commodities or equity-related positions that are offset by these market-risk-sensitive instruments .the table below presents the estimated maximum potential var arising from a one-day loss in fair value for our interest rate , foreign currency , commodity , and equity market-risk-sensitive instruments outstanding as of may 27 , 2018 and may 28 , 2017 , and the average fair value impact during the year ended may 27 , 2018. .
[['in millions', 'fair value impact may 27 2018', 'fair value impact averageduringfiscal 2018', 'fair value impact may 282017'], ['interest rate instruments', '$ 33.2', '$ 27.5', '$ 25.1'], ['foreign currency instruments', '21.3', '23.1', '24.6'], ['commodity instruments', '1.9', '2.1', '3.2'], ['equity instruments', '2.0', '1.4', '1.3']]
.
|
what is the net change in interest rate instruments from 2017 to 2018?
|
8.1
|
{
"answer": "8.1",
"decimal": 8.1,
"type": "float"
}
| |
note 9 2014 benefit plans the company has defined benefit pension plans covering certain employees in the united states and certain international locations .postretirement healthcare and life insurance benefits provided to qualifying domestic retirees as well as other postretirement benefit plans in international countries are not material .the measurement date used for the company 2019s employee benefit plans is september 30 .effective january 1 , 2018 , the legacy u.s .pension plan was frozen to limit the participation of employees who are hired or re-hired by the company , or who transfer employment to the company , on or after january 1 , net pension cost for the years ended september 30 included the following components: .
[['( millions of dollars )', 'pension plans 2019', 'pension plans 2018', 'pension plans 2017'], ['service cost', '$ 134', '$ 136', '$ 110'], ['interest cost', '107', '90', '61'], ['expected return on plan assets', '( 180 )', '( 154 )', '( 112 )'], ['amortization of prior service credit', '( 13 )', '( 13 )', '( 14 )'], ['amortization of loss', '78', '78', '92'], ['settlements', '10', '2', '2014'], ['net pension cost', '$ 135', '$ 137', '$ 138'], ['net pension cost included in the preceding table that is attributable to international plans', '$ 32', '$ 34', '$ 43']]
net pension cost included in the preceding table that is attributable to international plans $ 32 $ 34 $ 43 the amounts provided above for amortization of prior service credit and amortization of loss represent the reclassifications of prior service credits and net actuarial losses that were recognized in accumulated other comprehensive income ( loss ) in prior periods .the settlement losses recorded in 2019 and 2018 primarily included lump sum benefit payments associated with the company 2019s u.s .supplemental pension plan .the company recognizes pension settlements when payments from the supplemental plan exceed the sum of service and interest cost components of net periodic pension cost associated with this plan for the fiscal year .as further discussed in note 2 , upon adopting an accounting standard update on october 1 , 2018 , all components of the company 2019s net periodic pension and postretirement benefit costs , aside from service cost , are recorded to other income ( expense ) , net on its consolidated statements of income , for all periods presented .notes to consolidated financial statements 2014 ( continued ) becton , dickinson and company .
|
what was the average net pension cost from 2017 to 2019 in millions
|
136.7
|
{
"answer": "136.7",
"decimal": 136.7,
"type": "float"
}
| |
reinsurance commissions , fees and other revenue increased 1% ( 1 % ) driven by a favorable foreign currency translation of 2% ( 2 % ) and was partially offset by a 1% ( 1 % ) decline in dispositions , net of acquisitions and other .organic revenue was flat primarily resulting from strong growth in the capital market transactions and advisory business , partially offset by declines in global facultative placements .operating income operating income increased $ 120 million , or 10% ( 10 % ) , from 2010 to $ 1.3 billion in 2011 .in 2011 , operating income margins in this segment were 19.3% ( 19.3 % ) , up 70 basis points from 18.6% ( 18.6 % ) in 2010 .operating margin improvement was primarily driven by revenue growth , reduced costs of restructuring initiatives and realization of the benefits of those restructuring plans , which was partially offset by the negative impact of expense increases related to investment in the business , lease termination costs , legacy receivables write-off , and foreign currency exchange rates .hr solutions .
[['years ended december 31,', '2011', '2010', '2009'], ['revenue', '$ 4501', '$ 2111', '$ 1267'], ['operating income', '448', '234', '203'], ['operating margin', '10.0% ( 10.0 % )', '11.1% ( 11.1 % )', '16.0% ( 16.0 % )']]
in october 2010 , we completed the acquisition of hewitt , one of the world 2019s leading human resource consulting and outsourcing companies .hewitt operates globally together with aon 2019s existing consulting and outsourcing operations under the newly created aon hewitt brand .hewitt 2019s operating results are included in aon 2019s results of operations beginning october 1 , 2010 .our hr solutions segment generated approximately 40% ( 40 % ) of our consolidated total revenues in 2011 and provides a broad range of human capital services , as follows : 2022 health and benefits advises clients about how to structure , fund , and administer employee benefit programs that attract , retain , and motivate employees .benefits consulting includes health and welfare , executive benefits , workforce strategies and productivity , absence management , benefits administration , data-driven health , compliance , employee commitment , investment advisory and elective benefits services .effective january 1 , 2012 , this line of business will be included in the results of the risk solutions segment .2022 retirement specializes in global actuarial services , defined contribution consulting , investment consulting , tax and erisa consulting , and pension administration .2022 compensation focuses on compensatory advisory/counsel including : compensation planning design , executive reward strategies , salary survey and benchmarking , market share studies and sales force effectiveness , with special expertise in the financial services and technology industries .2022 strategic human capital delivers advice to complex global organizations on talent , change and organizational effectiveness issues , including talent strategy and acquisition , executive on-boarding , performance management , leadership assessment and development , communication strategy , workforce training and change management .2022 benefits administration applies our hr expertise primarily through defined benefit ( pension ) , defined contribution ( 401 ( k ) ) , and health and welfare administrative services .our model replaces the resource-intensive processes once required to administer benefit plans with more efficient , effective , and less costly solutions .2022 human resource business processing outsourcing ( 2018 2018hr bpo 2019 2019 ) provides market-leading solutions to manage employee data ; administer benefits , payroll and other human resources processes ; and .
|
what is the highest revenue observed in this period?
|
4501
|
{
"answer": "4501",
"decimal": 4501,
"type": "float"
}
|
it is the maximum value .
|
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. .
|
what was the total reinsurance coverage secured in 2014 in thousands
|
450000
|
{
"answer": "450000",
"decimal": 450000,
"type": "float"
}
| |
2022 through the u.s .attorney 2019s office for the district of maryland , the office of the inspector general ( 201coig 201d ) for the small business administration ( 201csba 201d ) has served a subpoena on pnc requesting documents concerning pnc 2019s relationship with , including sba-guaranteed loans made through , a broker named jade capital investments , llc ( 201cjade 201d ) , as well as information regarding other pnc-originated sba guaranteed loans made to businesses located in the state of maryland , the commonwealth of virginia , and washington , dc .certain of the jade loans have been identified in an indictment and subsequent superseding indictment charging persons associated with jade with conspiracy to commit bank fraud , substantive violations of the federal bank fraud statute , and money laundering .pnc is cooperating with the u.s .attorney 2019s office for the district of maryland .our practice is to cooperate fully with regulatory and governmental investigations , audits and other inquiries , including those described in this note 23 .in addition to the proceedings or other matters described above , pnc and persons to whom we may have indemnification obligations , in the normal course of business , are subject to various other pending and threatened legal proceedings in which claims for monetary damages and other relief are asserted .we do not anticipate , at the present time , that the ultimate aggregate liability , if any , arising out of such other legal proceedings will have a material adverse effect on our financial position .however , we cannot now determine 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 24 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 .note 24 commitments and guarantees equity funding and other commitments our unfunded commitments at december 31 , 2013 included private equity investments of $ 164 million .standby letters of credit we issue standby letters of credit and have risk participations in standby letters of credit issued by other financial institutions , in each case to support obligations of our customers to third parties , such as insurance requirements and the facilitation of transactions involving capital markets product execution .net outstanding standby letters of credit and internal credit ratings were as follows : table 151 : net outstanding standby letters of credit dollars in billions december 31 december 31 net outstanding standby letters of credit ( a ) $ 10.5 $ 11.5 internal credit ratings ( as a percentage of portfolio ) : .
[['dollars in billions', 'december 31 2013', 'december 312012'], ['net outstanding standby letters of credit ( a )', '$ 10.5', '$ 11.5'], ['internal credit ratings ( as a percentage of portfolio ) :', '', ''], ['pass ( b )', '96% ( 96 % )', '95% ( 95 % )'], ['below pass ( c )', '4% ( 4 % )', '5% ( 5 % )']]
( a ) the amounts above exclude participations in standby letters of credit of $ 3.3 billion and $ 3.2 billion to other financial institutions as of december 31 , 2013 and december 31 , 2012 , respectively .the amounts above include $ 6.6 billion and $ 7.5 billion which support remarketing programs at december 31 , 2013 and december 31 , 2012 , respectively .( b ) indicates that expected risk of loss is currently low .( c ) 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 a draw by a beneficiary , subject to the terms of the letter of credit , we would be obligated to make payment to them .the standby letters of credit outstanding on december 31 , 2013 had terms ranging from less than 1 year to 6 years .as of december 31 , 2013 , assets of $ 2.0 billion secured certain specifically identified standby letters of credit .in addition , a portion of the remaining standby letters of credit 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 participations in standby letters of credit was $ 218 million at december 31 , 2013 .standby bond purchase agreements and other liquidity facilities we enter into standby bond purchase agreements to support municipal bond obligations .at december 31 , 2013 , the aggregate of our commitments under these facilities was $ 1.3 billion .we also enter into certain other liquidity facilities to support individual pools of receivables acquired by commercial paper conduits .there were no commitments under these facilities at december 31 , 2013 .212 the pnc financial services group , inc .2013 form 10-k .
|
what was the change in billions in remarketing programs between december 31 , 2013 and december 31 , 2012?
|
0.9
|
{
"answer": "0.9",
"decimal": 0.9,
"type": "float"
}
| |
performance based restricted stock awards is generally recognized using the accelerated amortization method with each vesting tranche valued as a separate award , with a separate vesting date , consistent with the estimated value of the award at each period end .additionally , compensation expense is adjusted for actual forfeitures for all awards in the period that the award was forfeited .compensation expense for stock options is generally recognized on a straight-line basis over the requisite service period .maa presents stock compensation expense in the consolidated statements of operations in "general and administrative expenses" .effective january 1 , 2017 , the company adopted asu 2016-09 , improvements to employee share- based payment accounting , which allows employers to make a policy election to account for forfeitures as they occur .the company elected this option using the modified retrospective transition method , with a cumulative effect adjustment to retained earnings , and there was no material effect on the consolidated financial position or results of operations taken as a whole resulting from the reversal of previously estimated forfeitures .total compensation expense under the stock plan was approximately $ 10.8 million , $ 12.2 million and $ 6.9 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .of these amounts , total compensation expense capitalized was approximately $ 0.2 million , $ 0.7 million and $ 0.7 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .as of december 31 , 2017 , the total unrecognized compensation expense was approximately $ 14.1 million .this cost is expected to be recognized over the remaining weighted average period of 1.2 years .total cash paid for the settlement of plan shares totaled $ 4.8 million , $ 2.0 million and $ 1.0 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .information concerning grants under the stock plan is listed below .restricted stock in general , restricted stock is earned based on either a service condition , performance condition , or market condition , or a combination thereof , and generally vests ratably over a period from 1 year to 5 years .service based awards are earned when the employee remains employed over the requisite service period and are valued on the grant date based upon the market price of maa common stock on the date of grant .market based awards are earned when maa reaches a specified stock price or specified return on the stock price ( price appreciation plus dividends ) and are valued on the grant date using a monte carlo simulation .performance based awards are earned when maa reaches certain operational goals such as funds from operations , or ffo , targets and are valued based upon the market price of maa common stock on the date of grant as well as the probability of reaching the stated targets .maa remeasures the fair value of the performance based awards each balance sheet date with adjustments made on a cumulative basis until the award is settled and the final compensation is known .the weighted average grant date fair value per share of restricted stock awards granted during the years ended december 31 , 2017 , 2016 and 2015 , was $ 84.53 , $ 73.20 and $ 68.35 , respectively .the following is a summary of the key assumptions used in the valuation calculations for market based awards granted during the years ended december 31 , 2017 , 2016 and 2015: .
[['', '2017', '2016', '2015'], ['risk free rate', '0.65% ( 0.65 % ) - 1.57% ( 1.57 % )', '0.49% ( 0.49 % ) - 1.27% ( 1.27 % )', '0.10% ( 0.10 % ) - 1.05% ( 1.05 % )'], ['dividend yield', '3.573% ( 3.573 % )', '3.634% ( 3.634 % )', '3.932% ( 3.932 % )'], ['volatility', '20.43% ( 20.43 % ) - 21.85% ( 21.85 % )', '18.41% ( 18.41 % ) - 19.45% ( 19.45 % )', '15.41% ( 15.41 % ) - 16.04% ( 16.04 % )'], ['requisite service period', '3 years', '3 years', '3 years']]
the risk free rate was based on a zero coupon risk-free rate .the minimum risk free rate was based on a period of 0.25 years for the years ended december 31 , 2017 , 2016 and 2015 .the maximum risk free rate was based on a period of 3 years for the years ended december 31 , 2017 , 2016 and 2015 .the dividend yield was based on the closing stock price of maa stock on the date of grant .volatility for maa was obtained by using a blend of both historical and implied volatility calculations .historical volatility was based on the standard deviation of daily total continuous returns , and implied volatility was based on the trailing month average of daily implied volatilities interpolating between the volatilities implied by stock call option contracts that were closest to the terms shown and closest to the money .the minimum volatility was based on a period of 3 years , 2 years and 1 year for the years ended december 31 , 2017 , 2016 and 2015 , respectively .the maximum volatility was based on a period of 1 year , 1 year and 2 years for the years ended december 31 , 2017 , 2016 and 2015 , respectively .the requisite service period is based on the criteria for the separate programs according to the vesting schedule. .
|
considering the years 2015 and 2016 , what is the percentual increase observed in the total compensation expense under the stock plan?
|
76.81%
|
{
"answer": "76.81%",
"decimal": 0.7681,
"type": "percentage"
}
|
it is the compensation expense under the stock plan in 2016 divided by the 2015's , then turned into a percentage to represent the increase .
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 7 .financing arrangements outstanding amounts under the company 2019s long-term financing arrangements consisted of the following as of december 31 , ( in thousands ) : .
[['', '2006', '2005'], ['american tower credit facility', '$ 1000000', '$ 793000'], ['spectrasite credit facility', '725000', '700000'], ['senior subordinated notes', '325075', '400000'], ['senior subordinated discount notes net of discount and warrant valuation', '', '160252'], ['senior notes net of discount and premium', '728507', '726754'], ['convertible notes net of discount', '704596', '773058'], ['notes payable and capital leases', '59838', '60365'], ['total', '3543016', '3613429'], ['less current portion of other long-term obligations', '-253907 ( 253907 )', '-162153 ( 162153 )'], ['long-term obligations', '$ 3289109', '$ 3451276']]
credit facilities 2014in october 2005 , the company refinanced the two existing credit facilities of its principal operating subsidiaries .the company replaced the existing american tower $ 1.1 billion senior secured credit facility with a new $ 1.3 billion senior secured credit facility and replaced the existing spectrasite $ 900.0 million senior secured credit facility with a new $ 1.15 billion senior secured credit facility .in february 2007 , the company secured an additional $ 550.0 million under its credit facilities and drew down $ 250.0 million of the existing revolving loans under the american tower credit facility .( see note 19. ) during the year ended december 31 , 2006 , the company drew down the remaining amount available under the delayed draw term loan component of the american tower credit facility and drew down $ 25.0 million of the delayed draw term loan component of the spectrasite credit facility to finance debt redemptions and repurchases .in addition , on october 27 , 2006 , the remaining $ 175.0 million undrawn portion of the delayed draw term loan component of the spectrasite facility was canceled pursuant to its terms .as of december 31 , 2006 , the american tower credit facility consists of the following : 2022 a $ 300.0 million revolving credit facility , against which approximately $ 17.8 million of undrawn letters of credit are outstanding at december 31 , 2006 , maturing on october 27 , 2010 ; 2022 a $ 750.0 million term loan a , which is fully drawn , maturing on october 27 , 2010 ; and 2022 a $ 250.0 million delayed draw term loan , which is fully drawn , maturing on october 27 , 2010 .the borrowers under the american tower credit facility include ati , american tower , l.p. , american tower international , inc .and american tower llc .the company and the borrowers 2019 restricted subsidiaries ( as defined in the loan agreement ) have guaranteed all of the loans under the credit facility .these loans are secured by liens on and security interests in substantially all assets of the borrowers and the restricted subsidiaries , with a carrying value aggregating approximately $ 4.5 billion at december 31 , 2006 .as of december 31 , 2006 , the spectrasite credit facility consists of the following : 2022 a $ 250.0 million revolving credit facility , against which approximately $ 4.6 million of undrawn letters of credit were outstanding at december 31 , 2006 , maturing on october 27 , 2010; .
|
what percentage of outstanding amounts under the company 2019s long-term financing arrangements is current as of december 31 , 2006?
|
7%
|
{
"answer": "7%",
"decimal": 0.07,
"type": "percentage"
}
| |
in november 2016 , we issued $ 45 million of fixed rate term notes in two tranches to two insurance companies .principal payments commence in 2023 and 2028 and the notes mature in 2029 and 2034 , respectively .the notes carry interest rates of 2.87 and 3.10 , respectively .we used proceeds of the notes to pay down borrowings under our revolving credit facility .in january 2015 , we issued $ 75 million of fixed rate term notes to an insurance company .principal payments commence in 2020 and the notes mature in 2030 .the notes carry an interest rate of 3.52 percent .we used proceeds of the notes to pay down borrowings under our revolving credit facility .at december 31 , 2016 , we had available borrowing capacity of $ 310.8 million under this facility .we believe that the combination of cash , available borrowing capacity and operating cash flow will provide sufficient funds to finance our existing operations for the foreseeable future .our total debt increased to $ 323.6 million at december 31 , 2016 compared with $ 249.0 million at december 31 , 2015 , as our cash flows generated in the u.s were more than offset by our share repurchase activity and our purchase of aquasana .as a result , our leverage , as measured by the ratio of total debt to total capitalization , was 17.6 percent at the end of 2016 compared with 14.7 percent at the end of 2015 .our u.s .pension plan continues to meet all funding requirements under erisa regulations .we were not required to make a contribution to our pension plan in 2016 but made a voluntary $ 30 million contribution due to escalating pension benefit guaranty corporation insurance premiums .we forecast that we will not be required to make a contribution to the plan in 2017 and we do not plan to make any voluntary contributions in 2017 .for further information on our pension plans , see note 10 of the notes to consolidated financial statements .during 2016 , our board of directors authorized the purchase of an additional 3000000 shares of our common stock .in 2016 , we repurchased 3273109 shares at an average price of $ 41.30 per share and a total cost of $ 135.2 million .a total of 4906403 shares remained on the existing repurchase authorization at december 31 , 2016 .depending on factors such as stock price , working capital requirements and alternative investment opportunities , such as acquisitions , we expect to spend approximately $ 135 million on share repurchase activity in 2017 using a 10b5-1 repurchase plan .in addition , we may opportunistically repurchase an additional $ 65 million of our shares in 2017 .we have paid dividends for 77 consecutive years with payments increasing each of the last 25 years .we paid dividends of $ 0.48 per share in 2016 compared with $ 0.38 per share in 2015 .in january 2017 , we increased our dividend by 17 percent and anticipate paying dividends of $ 0.56 per share in 2017 .aggregate contractual obligations a summary of our contractual obligations as of december 31 , 2016 , is as follows: .
[['( dollars in millions ) contractual obligations', '( dollars in millions ) total', '( dollars in millions ) less than1 year', '( dollars in millions ) 1 - 2years', '( dollars in millions ) 3 - 5years', 'more than5 years'], ['long-term debt', '$ 323.6', '$ 7.2', '$ 7.2', '$ 202.9', '$ 106.3'], ['fixed rate interest', '38.6', '4.6', '8.1', '7.2', '18.7'], ['operating leases', '37.4', '19.5', '7.9', '4.2', '5.8'], ['purchase obligations', '150.8', '141.4', '5.8', '3.6', '2014'], ['pension and post-retirement obligations', '66.0', '0.9', '9.5', '8.6', '47.0'], ['total', '$ 616.4', '$ 173.6', '$ 38.5', '$ 226.5', '$ 177.8']]
as of december 31 , 2016 , our liability for uncertain income tax positions was $ 4.2 million .due to the high degree of uncertainty regarding timing of potential future cash flows associated with these liabilities , we are unable to make a reasonably reliable estimate of the amount and period in which these liabilities might be paid .we utilize blanket purchase orders to communicate expected annual requirements to many of our suppliers .requirements under blanket purchase orders generally do not become committed until several weeks prior to our scheduled unit production .the purchase obligation amount presented above represents the value of commitments that we consider firm .recent accounting pronouncements refer to recent accounting pronouncements in note 1 of notes to consolidated financial statements. .
|
what percentage of total aggregate contractual obligations is due to pension and post-retirement obligations?
|
11%
|
{
"answer": "11%",
"decimal": 0.11,
"type": "percentage"
}
| |
2022 level and volatility of interest or capitalization rates or capital market conditions ; 2022 loss of hedge accounting treatment for interest rate swaps ; 2022 the continuation of the good credit of our interest rate swap providers ; 2022 price volatility , dislocations and liquidity disruptions in the financial markets and the resulting impact on financing ; 2022 the effect of any rating agency actions on the cost and availability of new debt financing ; 2022 significant decline in market value of real estate serving as collateral for mortgage obligations ; 2022 significant change in the mortgage financing market that would cause single-family housing , either as an owned or rental product , to become a more significant competitive product ; 2022 our ability to continue to satisfy complex rules in order to maintain our status as a reit for federal income tax purposes , the ability of the operating partnership to satisfy the rules to maintain its status as a partnership for federal income tax purposes , the ability of our taxable reit subsidiaries to maintain their status as such for federal income tax purposes , and our ability and the ability of our subsidiaries to operate effectively within the limitations imposed by these rules ; 2022 inability to attract and retain qualified personnel ; 2022 cyber liability or potential liability for breaches of our privacy or information security systems ; 2022 potential liability for environmental contamination ; 2022 adverse legislative or regulatory tax changes ; 2022 legal proceedings relating to various issues , which , among other things , could result in a class action lawsuit ; 2022 compliance costs associated with laws requiring access for disabled persons ; and 2022 other risks identified in this annual report on form 10-k including under the caption "item 1a .risk factors" and , from time to time , in other reports we file with the securities and exchange commission , or the sec , or in other documents that we publicly disseminate .new factors may also emerge from time to time that could have a material adverse effect on our business .except as required by law , we undertake no obligation to publicly update or revise forward-looking statements contained in this annual report on form 10-k to reflect events , circumstances or changes in expectations after the date on which this annual report on form 10-k is filed .item 1 .business .overview maa is a multifamily focused , self-administered and self-managed real estate investment trust , or reit .we own , operate , acquire and selectively develop apartment communities located in the southeast , southwest and mid-atlantic regions of the united states .as of december 31 , 2018 , we maintained full or partial ownership of apartment communities and commercial properties across 17 states and the district of columbia , summarized as follows: .
[['multifamily', 'communities', 'units'], ['consolidated', '303', '100595'], ['unconsolidated', '1', '269'], ['total', '304', '100864'], ['commercial', 'properties', 'sq . ft. ( 1 )'], ['consolidated', '4', '260000']]
( 1 ) excludes commercial space located at our multifamily apartment communities , which totals approximately 615000 square feet of gross leasable space .our business is conducted principally through the operating partnership .maa is the sole general partner of the operating partnership , holding 113844267 op units , comprising a 96.5% ( 96.5 % ) partnership interest in the operating partnership as of december 31 , 2018 .maa and maalp were formed in tennessee in 1993 .as of december 31 , 2018 , we had 2508 full- time employees and 44 part-time employees. .
|
what is the percentage of unconsolidated units among the total units?
|
0.27%
|
{
"answer": "0.27%",
"decimal": 0.0027,
"type": "percentage"
}
|
it is the number of unconsolidated units divided by the total units , then turned into a percentage .
|
contingencies we are exposed to certain known contingencies that are material to our investors .the facts and circumstances surrounding these contingencies and a discussion of their effect on us are in note 12 to our audited consolidated financial statements included elsewhere in this annual report on form 10-k .these contingencies may have a material effect on our liquidity , capital resources or results of operations .in addition , even where our reserves are adequate , the incurrence of any of these liabilities may have a material effect on our liquidity and the amount of cash available to us for other purposes .we believe that we have made appropriate arrangements in respect of the future effect on us of these known contingencies .we also believe that the amount of cash available to us from our operations , together with cash from financing , will be sufficient for us to pay any known contingencies as they become due without materially affecting our ability to conduct our operations and invest in the growth of our business .off-balance sheet arrangements we do not have any off-balance sheet arrangements except for operating leases entered into in the normal course of business .contractual obligations and commitments below is a summary of our future payment commitments by year under contractual obligations as of december 31 , 2018: .
[['( in millions )', '2019', '2020 - 2021', '2022 - 2023', 'thereafter', 'total'], ['long-term debt including interest ( 1 )', '$ 508', '$ 1287', '$ 3257', '$ 8167', '$ 13219'], ['operating leases', '167', '244', '159', '119', '689'], ['data acquisition', '289', '467', '135', '4', '895'], ['purchase obligations ( 2 )', '17', '22', '15', '8', '62'], ['commitments to unconsolidated affiliates ( 3 )', '2014', '2014', '2014', '2014', '2014'], ['benefit obligations ( 4 )', '25', '27', '29', '81', '162'], ['uncertain income tax positions ( 5 )', '17', '2014', '2014', '2014', '17'], ['total', '$ 1023', '$ 2047', '$ 3595', '$ 8379', '$ 15044']]
( 1 ) interest payments on our debt are based on the interest rates in effect on december 31 , 2018 .( 2 ) purchase obligations are defined as agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms , including fixed or minimum quantities to be purchased , fixed , minimum or variable pricing provisions and the approximate timing of the transactions .( 3 ) we are currently committed to invest $ 120 million in private equity funds .as of december 31 , 2018 , we have funded approximately $ 78 million of these commitments and we have approximately $ 42 million remaining to be funded which has not been included in the above table as we are unable to predict when these commitments will be paid .( 4 ) amounts represent expected future benefit payments for our pension and postretirement benefit plans , as well as expected contributions for 2019 for our funded pension benefit plans .we made cash contributions totaling approximately $ 31 million to our defined benefit plans in 2018 , and we estimate that we will make contributions totaling approximately $ 25 million to our defined benefit plans in 2019 .due to the potential impact of future plan investment performance , changes in interest rates , changes in other economic and demographic assumptions and changes in legislation in foreign jurisdictions , we are not able to reasonably estimate the timing and amount of contributions that may be required to fund our defined benefit plans for periods beyond 2019 .( 5 ) as of december 31 , 2018 , our liability related to uncertain income tax positions was approximately $ 106 million , $ 89 million of which has not been included in the above table as we are unable to predict when these liabilities will be paid due to the uncertainties in the timing of the settlement of the income tax positions. .
|
based on the summary of total future payment commitments of long-term debt including interest due that was the percent of the in 2019
|
3.84%
|
{
"answer": "3.84%",
"decimal": 0.0384,
"type": "percentage"
}
| |
stock total return performance the following graph compares our total return to stockholders with the returns of the standard & poor 2019s composite 500 index ( 201cs&p 500 201d ) and the dow jones us select health care providers index ( 201cpeer group 201d ) for the five years ended december 31 , 2017 .the graph assumes an investment of $ 100 in each of our common stock , the s&p 500 , and the peer group on december 31 , 2012 , and that dividends were reinvested when paid. .
[['', '12/31/2012', '12/31/2013', '12/31/2014', '12/31/2015', '12/31/2016', '12/31/2017'], ['hum', '$ 100', '$ 152', '$ 214', '$ 267', '$ 307', '$ 377'], ['s&p 500', '$ 100', '$ 132', '$ 150', '$ 153', '$ 171', '$ 208'], ['peer group', '$ 100', '$ 137', '$ 175', '$ 186', '$ 188', '$ 238']]
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .
|
what is the increase observed in the return of the second year of the investment for peer group?
|
27.73%
|
{
"answer": "27.73%",
"decimal": 0.2773,
"type": "percentage"
}
|
it is the value of the investment in the second year divided by the first year's , then turned into a percentage .
|
fis gaming business on june 1 , 2015 , we acquired certain assets of certegy check services , inc. , a wholly-owned subsidiary of fidelity national information services , inc .( 201cfis 201d ) .under the purchase arrangement , we acquired substantially all of the assets of its gaming business related to licensed gaming operators ( the 201cfis gaming business 201d ) , including relationships with gaming clients in approximately 260 locations as of the acquisition date , for $ 237.5 million , funded from borrowings on our revolving credit facility and cash on hand .we acquired the fis gaming business to expand our direct distribution and service offerings in the gaming market .the estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed , including a reconciliation to the total purchase consideration , were as follows ( in thousands ) : .
[['customer-related intangible assets', '$ 143400'], ['liabilities', '-150 ( 150 )'], ['total identifiable net assets', '143250'], ['goodwill', '94250'], ['total purchase consideration', '$ 237500']]
goodwill arising from the acquisition , included in the north america segment , was attributable to an expected growth opportunities , including cross-selling opportunities at existing and acquired gaming client locations and operating synergies in the gaming business , and an assembled workforce .goodwill associated with this acquisition is deductible for income tax purposes .the customer-related intangible assets have an estimated amortization period of 15 years .valuation of identified intangible assets for the acquisitions discussed above , the estimated fair values of customer-related intangible assets were determined using the income approach , which was based on projected cash flows discounted to their present value using discount rates that consider the timing and risk of the forecasted cash flows .the discount rates used represented the average estimated value of a market participant 2019s cost of capital and debt , derived using customary market metrics .acquired technologies were valued using the replacement cost method , which required us to estimate the costs to construct an asset of equivalent utility at prices available at the time of the valuation analysis , with adjustments in value for physical deterioration and functional and economic obsolescence .trademarks and trade names were valued using the 201crelief-from-royalty 201d approach .this method assumes that trademarks and trade names have value to the extent that their owner is relieved of the obligation to pay royalties for the benefits received from them .this method required us to estimate the future revenues for the related brands , the appropriate royalty rate and the weighted-average cost of capital .the discount rates used represented the average estimated value of a market participant 2019s cost of capital and debt , derived using customary market metrics .note 3 2014 revenues we are a leading worldwide provider of payment technology and software solutions delivering innovative services to our customers globally .our technologies , services and employee expertise enable us to provide a broad range of solutions that allow our customers to accept various payment types and operate their businesses more efficiently .we distribute our services across a variety of channels to customers .the disclosures in this note are applicable for the year ended december 31 , 2018 .global payments inc .| 2018 form 10-k annual report 2013 79 .
|
what portion of the total purchase consideration is goodwill?
|
39.7%
|
{
"answer": "39.7%",
"decimal": 0.397,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) the company has selected december 1 as the date to perform its annual impairment test .in performing its 2005 and 2004 testing , the company completed an internal appraisal and estimated the fair value of the rental and management reporting unit that contains goodwill utilizing future discounted cash flows and market information .based on the appraisals performed , the company determined that goodwill in its rental and management segment was not impaired .the company 2019s other intangible assets subject to amortization consist of the following as of december 31 , ( in thousands ) : .
[['', '2005', '2004'], ['acquired customer base and network location intangibles', '$ 2606546', '$ 1369607'], ['deferred financing costs', '65623', '89736'], ['acquired licenses and other intangibles', '51703', '43404'], ['total', '2723872', '1502747'], ['less accumulated amortization', '-646560 ( 646560 )', '-517444 ( 517444 )'], ['other intangible assets net', '$ 2077312', '$ 985303']]
the company amortizes its intangible assets over periods ranging from three to fifteen years .amortization of intangible assets for the years ended december 31 , 2005 and 2004 aggregated approximately $ 136.0 million and $ 97.8 million , respectively ( excluding amortization of deferred financing costs , which is included in interest expense ) .the company expects to record amortization expense of approximately $ 183.6 million , $ 178.3 million , $ 174.4 million , $ 172.7 million and $ 170.3 million , for the years ended december 31 , 2006 , 2007 , 2008 , 2009 and 2010 , respectively .these amounts are subject to changes in estimates until the preliminary allocation of the spectrasite purchase price is finalized .6 .notes receivable in 2000 , the company loaned tv azteca , s.a .de c.v .( tv azteca ) , the owner of a major national television network in mexico , $ 119.8 million .the loan , which initially bore interest at 12.87% ( 12.87 % ) , payable quarterly , was discounted by the company , as the fair value interest rate at the date of the loan was determined to be 14.25% ( 14.25 % ) .the loan was amended effective january 1 , 2003 to increase the original interest rate to 13.11% ( 13.11 % ) .as of december 31 , 2005 and 2004 , approximately $ 119.8 million undiscounted ( $ 108.2 million discounted ) under the loan was outstanding and included in notes receivable and other long-term assets in the accompanying consolidated balance sheets .the term of the loan is seventy years ; however , the loan may be prepaid by tv azteca without penalty during the last fifty years of the agreement .the discount on the loan is being amortized to interest income 2014tv azteca , net , using the effective interest method over the seventy-year term of the loan .simultaneous with the signing of the loan agreement , the company also entered into a seventy year economic rights agreement with tv azteca regarding space not used by tv azteca on approximately 190 of its broadcast towers .in exchange for the issuance of the below market interest rate loan discussed above and the annual payment of $ 1.5 million to tv azteca ( under the economic rights agreement ) , the company has the right to market and lease the unused tower space on the broadcast towers ( the economic rights ) .tv azteca retains title to these towers and is responsible for their operation and maintenance .the company is entitled to 100% ( 100 % ) of the revenues generated from leases with tenants on the unused space and is responsible for any incremental operating expenses associated with those tenants. .
|
assuming that intangible asset will be sold , what will be the accumulated deprecation at the end of 2006 , in millions?
|
830.2
|
{
"answer": "830.2",
"decimal": 830.2,
"type": "float"
}
| |
investment advisory revenues earned on the other investment portfolios that we manage decreased $ 3.6 million to $ 522.2 million .average assets in these portfolios were $ 142.1 billion during 2008 , up slightly from $ 141.4 billion in 2007 .these minor changes , each less than 1% ( 1 % ) , are attributable to the timing of declining equity market valuations and cash flows among our separate account and sub-advised portfolios .net inflows , primarily from institutional investors , were $ 13.2 billion during 2008 , including the $ 1.3 billion transferred from the retirement funds to target-date trusts .decreases in market valuations , net of income , lowered our assets under management in these portfolios by $ 55.3 billion during 2008 .administrative fees increased $ 5.8 million to $ 353.9 million , primarily from increased costs of servicing activities for the mutual funds and their investors .changes in administrative fees are generally offset by similar changes in related operating expenses that are incurred to provide services to the funds and their investors .our largest expense , compensation and related costs , increased $ 18.4 million or 2.3% ( 2.3 % ) from 2007 .this increase includes $ 37.2 million in salaries resulting from an 8.4% ( 8.4 % ) increase in our average staff count and an increase of our associates 2019 base salaries at the beginning of the year .at december 31 , 2008 , we employed 5385 associates , up 6.0% ( 6.0 % ) from the end of 2007 , primarily to add capabilities and support increased volume-related activities and other growth over the past few years .over the course of 2008 , we slowed the growth of our associate base from earlier plans and the prior year .we do not expect the number of our associates to increase in 2009 .we also reduced our annual bonuses $ 27.6 million versus the 2007 year in response to recent and ongoing unfavorable financial market conditions that negatively impacted our operating results .the balance of the increase is attributable to higher employee benefits and employment- related expenses , including an increase of $ 5.7 million in stock-based compensation .entering 2009 , we did not increase the salaries of our highest paid associates .after higher spending during the first quarter of 2008 versus 2007 , investor sentiment in the uncertain and volatile market environment caused us to reduce advertising and promotion spending , which for the year was down $ 3.8 million from 2007 .we expect to reduce these expenditures for 2009 versus 2008 , and estimate that spending in the first quarter of 2009 will be down about $ 5 million from the fourth quarter of 2008 .we vary our level of spending based on market conditions and investor demand as well as our efforts to expand our investor base in the united states and abroad .occupancy and facility costs together with depreciation expense increased $ 18 million , or 12% ( 12 % ) compared to 2007 .we have been expanding and renovating our facilities to accommodate the growth in our associates to meet business demands .other operating expenses were up $ 3.3 million from 2007 .we increased our spending $ 9.8 million , primarily for professional fees and information and other third-party services .reductions in travel and charitable contributions partially offset these increases .our non-operating investment activity resulted in a net loss of $ 52.3 million in 2008 as compared to a net gain of $ 80.4 million in 2007 .this change of $ 132.7 million is primarily attributable to losses recognized in 2008 on our investments in sponsored mutual funds , which resulted from declines in financial market values during the year. .
[['', '2007', '2008', 'change'], ['capital gain distributions received', '$ 22.1', '$ 5.6', '$ -16.5 ( 16.5 )'], ['other than temporary impairments recognized', '-.3 ( .3 )', '-91.3 ( 91.3 )', '-91.0 ( 91.0 )'], ['net gains ( losses ) realized on funddispositions', '5.5', '-4.5 ( 4.5 )', '-10.0 ( 10.0 )'], ['net gain ( loss ) recognized on fund holdings', '$ 27.3', '$ -90.2 ( 90.2 )', '$ -117.5 ( 117.5 )']]
we recognized other than temporary impairments of our investments in sponsored mutual funds because of declines in fair value below cost for an extended period .the significant declines in fair value below cost that occurred in 2008 were generally attributable to the adverse and ongoing market conditions discussed in the background section on page 18 of this report .see also the discussion on page 24 of critical accounting policies for other than temporary impairments of available-for-sale securities .in addition , income from money market and bond fund holdings was $ 19.3 million lower than in 2007 due to the significantly lower interest rate environment of 2008 .lower interest rates also led to substantial capital appreciation on our $ 40 million holding of u.s .treasury notes that we sold in december 2008 at a $ 2.6 million gain .management 2019s discussion & analysis 21 .
|
what was the total occupancy and facility costs together with depreciation expense in 2007 , in millions of dollars?
|
150
|
{
"answer": "150",
"decimal": 150,
"type": "float"
}
| |
entergy mississippi , inc .management's financial discussion and analysis the net wholesale revenue variance is primarily due to lower profit on joint account sales and reduced capacity revenue from the municipal energy agency of mississippi .gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased primarily due to an increase of $ 152.5 million in fuel cost recovery revenues due to higher fuel rates , partially offset by a decrease of $ 43 million in gross wholesale revenues due to a decrease in net generation and purchases in excess of decreased net area demand resulting in less energy available for resale sales coupled with a decrease in system agreement remedy receipts .fuel and purchased power expenses increased primarily due to increases in the average market prices of natural gas and purchased power , partially offset by decreased demand and decreased recovery from customers of deferred fuel costs .other regulatory charges increased primarily due to increased recovery through the grand gulf rider of grand gulf capacity costs due to higher rates and increased recovery of costs associated with the power management recovery rider .there is no material effect on net income due to quarterly adjustments to the power management recovery rider .2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .following is an analysis of the change in net revenue comparing 2007 to 2006 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2006 net revenue', '$ 466.1'], ['base revenue', '7.9'], ['volume/weather', '4.5'], ['transmission revenue', '4.1'], ['transmission equalization', '4.0'], ['reserve equalization', '3.8'], ['attala costs', '-10.2 ( 10.2 )'], ['other', '6.7'], ['2007 net revenue', '$ 486.9']]
the base revenue variance is primarily due to a formula rate plan increase effective july 2007 .the formula rate plan filing is discussed further in "state and local rate regulation" below .the volume/weather variance is primarily due to increased electricity usage primarily in the residential and commercial sectors , including the effect of more favorable weather on billed electric sales in 2007 compared to 2006 .billed electricity usage increased 214 gwh .the increase in usage was partially offset by decreased usage in the industrial sector .the transmission revenue variance is due to higher rates and the addition of new transmission customers in late 2006 .the transmission equalization variance is primarily due to a revision made in 2006 of transmission equalization receipts among entergy companies .the reserve equalization variance is primarily due to a revision in 2006 of reserve equalization payments among entergy companies due to a ferc ruling regarding the inclusion of interruptible loads in reserve .
|
what is the net change in net revenue in 2007 compare to 2006?
|
20.8
|
{
"answer": "20.8",
"decimal": 20.8,
"type": "float"
}
| |
the authorized costs of $ 76 are to be recovered via a surcharge over a twenty-year period beginning october 2012 .surcharges collected as of december 31 , 2015 and 2014 were $ 4 and $ 5 , respectively .in addition to the authorized costs , the company expects to incur additional costs totaling $ 34 , which will be recovered from contributions made by the california state coastal conservancy .contributions collected as of december 31 , 2015 and 2014 were $ 8 and $ 5 , respectively .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 .purchase premium recoverable through rates is primarily the recovery of the acquisition premiums related to an asset acquisition by the company 2019s california subsidiary during 2002 , and acquisitions in 2007 by the company 2019s new jersey 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 five to fifteen years , as authorized by the regulatory authorities in their determination of rates charged for service .other regulatory assets include certain deferred business transformation costs , construction costs for treatment facilities , property tax stabilization , employee-related costs , 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 the regulatory liabilities generally represent probable future reductions in revenues associated with amounts that are to be credited or refunded to customers through the rate-making process .the following table summarizes the composition of regulatory liabilities as of december 31: .
[['', '2015', '2014'], ['removal costs recovered through rates', '$ 311', '$ 301'], ['pension and other postretirement benefitbalancing accounts', '59', '54'], ['other', '32', '37'], ['total regulatory liabilities', '$ 402', '$ 392']]
removal costs recovered through rates are estimated costs to retire assets at the end of their expected useful life that are recovered through customer rates over the life of the associated assets .in december 2008 , the company 2019s subsidiary in new jersey , at the direction of the new jersey puc , began to depreciate $ 48 of the total balance into depreciation and amortization expense in the consolidated statements of operations via straight line amortization through november 2048 .pension and other postretirement benefit balancing accounts represent the difference between costs incurred and costs authorized by the puc 2019s that are expected to be refunded to customers. .
|
what were the removal costs as a percent of total regulatory costs in 2015
|
77.4%
|
{
"answer": "77.4%",
"decimal": 0.774,
"type": "percentage"
}
|
77.4% of the total regulatory costs were made of removal costs in 2015
|
2 .new accounting standards effective january 1 , 2003 , marathon adopted statement of financial accounting standards no .143 201caccounting for asset retirement obligations 201d ( 201csfas no .143 201d ) .this statement requires that the fair value of an asset retirement obligation be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made .the present value of the estimated asset retirement cost is capitalized as part of the carrying amount of the long-lived asset .previous accounting standards used the units-of-production method to match estimated future retirement costs with the revenues generated from the producing assets .in contrast , sfas no .143 requires depreciation of the capitalized asset retirement cost and accretion of the asset retirement obligation over time .the depreciation will generally be determined on a units-of-production basis over the life of the field , while the accretion to be recognized will escalate over the life of the producing assets , typically as production declines .for marathon , asset retirement obligations primarily relate to the abandonment of oil and gas producing facilities .while assets such as refineries , crude oil and product pipelines , and marketing assets have retirement obligations covered by sfas no .143 , certain of those obligations are not recognized since the fair value cannot be estimated due to the uncertainty of the settlement date of the obligation .the transition adjustment related to adopting sfas no .143 on january 1 , 2003 , was recognized as a cumulative effect of a change in accounting principle .the cumulative effect on net income of adopting sfas no .143 was a net favorable effect of $ 4 million , net of tax of $ 4 million .at the time of adoption , total assets increased $ 120 million , and total liabilities increased $ 116 million .the amounts recognized upon adoption are based upon numerous estimates and assumptions , including future retirement costs , future recoverable quantities of oil and gas , future inflation rates and the credit-adjusted risk-free interest rate .changes in asset retirement obligations during the year were : ( in millions ) 2003 pro forma 2002 ( a ) .
[['( in millions )', '2003', 'pro forma2002 ( a )'], ['asset retirement obligations as of january 1', '$ 339', '$ 316'], ['liabilities incurred during 2003 ( b )', '32', '2013'], ['liabilities settled during 2003 ( c )', '-42 ( 42 )', '2013'], ['accretion expense ( included in depreciation depletion and amortization )', '20', '23'], ['revisions of previous estimates', '41', '2013'], ['asset retirement obligations as of december 31', '$ 390', '$ 339']]
( a ) pro forma data as if sfas no .143 had been adopted on january 1 , 2002 .if adopted , income before cumulative effect of changes in accounting principles for 2002 would have been increased by $ 1 million and there would have been no impact on earnings per share .( b ) includes $ 12 million related to the acquisition of khanty mansiysk oil corporation in 2003 .( c ) includes $ 25 million associated with assets sold in 2003 .in the second quarter of 2002 , the financial accounting standards board ( 201cfasb 201d ) issued statement of financial accounting standards no .145 201crescission of fasb statements no .4 , 44 , and 64 , amendment of fasb statement no .13 , and technical corrections 201d ( 201csfas no .145 201d ) .effective january 1 , 2003 , marathon adopted the provisions relating to the classification of the effects of early extinguishment of debt in the consolidated statement of income .as a result , losses of $ 53 million from the early extinguishment of debt in 2002 , which were previously reported as an extraordinary item ( net of tax of $ 20 million ) , have been reclassified into income before income taxes .the adoption of sfas no .145 had no impact on net income for 2002 .effective january 1 , 2003 , marathon adopted statement of financial accounting standards no .146 201caccounting for exit or disposal activities 201d ( 201csfas no .146 201d ) .sfas no .146 is effective for exit or disposal activities that are initiated after december 31 , 2002 .there were no impacts upon the initial adoption of sfas no .146 .effective january 1 , 2003 , marathon adopted the fair value recognition provisions of statement of financial accounting standards no .123 201caccounting for stock-based compensation 201d ( 201csfas no .123 201d ) .statement of financial accounting standards no .148 201caccounting for stock-based compensation 2013 transition and disclosure 201d ( 201csfas no .148 201d ) , an amendment of sfas no .123 , provides alternative methods for the transition of the accounting for stock-based compensation from the intrinsic value method to the fair value method .marathon has applied the fair value method to grants made , modified or settled on or after january 1 , 2003 .the impact on marathon 2019s 2003 net income was not materially different than under previous accounting standards .the fasb issued statement of financial accounting standards no .149 201camendment of statement 133 on derivative instruments and hedging activities 201d on april 30 , 2003 .the statement is effective for derivative contracts entered into or modified after june 30 , 2003 and for hedging relationships designated after june 30 , 2003 .the adoption of this statement did not have an effect on marathon 2019s financial position , cash flows or results of operations .the fasb issued statement of financial accounting standards no .150 201caccounting for certain financial instruments with characteristics of both liabilities and equity 201d on may 30 , 2003 .the adoption of this statement , effective july 1 , 2003 , did not have a material effect on marathon 2019s financial position or results of operations .effective january 1 , 2003 , fasb interpretation no .45 , 201cguarantor 2019s accounting and disclosure requirements for guarantees , including indirect guarantees of indebtedness of others 201d ( 201cfin 45 201d ) , requires the fair-value .
|
what are the average asset retirement obligations as of january 1 2002 and 2003 in millions?
|
327.5
|
{
"answer": "327.5",
"decimal": 327.5,
"type": "float"
}
| |
notes to consolidated financial statements 2014 ( continued ) ucs .as of may 31 , 2009 , $ 55.0 million of the purchase price was held in escrow ( the 201cescrow account 201d ) .prior to our acquisition of ucs , the former parent company of ucs pledged the company 2019s stock as collateral for a third party loan ( 201cthe loan 201d ) that matures on september 24 , 2009 .upon repayment of this loan , the stock will be released to us and $ 35.0 million of the purchase price will be released to the seller .the remaining $ 20.0 million will remain in escrow until january 1 , 2013 , to satisfy any liabilities discovered post-closing that existed at the purchase date .the purpose of this acquisition was to establish an acquiring presence in the russian market and a foundation for other direct acquiring opportunities in central and eastern europe .the purchase price was determined by analyzing the historical and prospective financial statements and applying relevant purchase price multiples .this business acquisition was not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to this acquisition .upon acquisition of ucs global payments assumed an indirect guarantee of the loan .in the event of a default by the third-party debtor , we would be required to transfer all of the shares of ucs to the trustee or pay the amount outstanding under the loan .at may 31 , 2009 the maximum potential amount of future payments under the guarantee was $ 44.1 million which represents the total outstanding under the loan , consisting of $ 21.8 million due and paid on june 24 , 2009 and $ 22.3 million due on september 24 , 2009 .should the third-party debtor default on the final payment , global payments would pay the total amount outstanding and seek to be reimbursed for any payments made from the $ 55 million held in the escrow account .we did not record an obligation for this guarantee because we determined that the fair value of the guarantee is de minimis .the following table summarizes the preliminary purchase price allocation ( in thousands ) : .
[['total current assets', '$ 10657'], ['goodwill', '35431'], ['customer-related intangible assets', '16500'], ['trademark', '3100'], ['property and equipment', '19132'], ['other long-term assets', '13101'], ['total assets acquired', '97921'], ['current liabilities', '-7245 ( 7245 )'], ['notes payable', '-8227 ( 8227 )'], ['deferred income taxes and other long-term liabilities', '-7449 ( 7449 )'], ['total liabilities assumed', '-22921 ( 22921 )'], ['net assets acquired', '$ 75000']]
all of the goodwill associated with the acquisition is non-deductible for tax purposes .the customer-related intangible assets have amortization periods of 9 to 15 years .the trademark has an amortization period of 10 years .global payments asia-pacific philippines incorporated on september 4 , 2008 , global payments asia-pacific , limited ( 201cgpap 201d ) , the entity through which we conduct our merchant acquiring business in the asia-pacific region , indirectly acquired global payments asia- pacific philippines incorporated ( 201cgpap philippines 201d ) , a newly formed company into which hsbc asia pacific contributed its merchant acquiring business in the philippines .we own 56% ( 56 % ) of gpap and hsbc asia pacific .
|
what percentage of total assets acquired was related to goodwill?
|
36%
|
{
"answer": "36%",
"decimal": 0.36,
"type": "percentage"
}
| |
jpmorgan chase & co./2009 annual report 181 the following table shows the current credit risk of derivative receivables after netting adjustments , and the current liquidity risk of derivative payables after netting adjustments , as of december 31 , 2009. .
[['december 31 2009 ( in millions )', 'derivative receivables', 'derivative payables'], ['gross derivative fair value', '$ 1565518', '$ 1519183'], ['nettingadjustment 2013 offsetting receivables/payables', '-1419840 ( 1419840 )', '-1419840 ( 1419840 )'], ['nettingadjustment 2013 cash collateral received/paid', '-65468 ( 65468 )', '-39218 ( 39218 )'], ['carrying value on consolidated balance sheets', '$ 80210', '$ 60125']]
in addition to the collateral amounts reflected in the table above , at december 31 , 2009 , the firm had received and posted liquid secu- rities collateral in the amount of $ 15.5 billion and $ 11.7 billion , respectively .the firm also receives and delivers collateral at the initiation of derivative transactions , which is available as security against potential exposure that could arise should the fair value of the transactions move in the firm 2019s or client 2019s favor , respectively .furthermore , the firm and its counterparties hold collateral related to contracts that have a non-daily call frequency for collateral to be posted , and collateral that the firm or a counterparty has agreed to return but has not yet settled as of the reporting date .at december 31 , 2009 , the firm had received $ 16.9 billion and delivered $ 5.8 billion of such additional collateral .these amounts were not netted against the derivative receivables and payables in the table above , because , at an individual counterparty level , the collateral exceeded the fair value exposure at december 31 , 2009 .credit derivatives credit derivatives are financial instruments whose value is derived from the credit risk associated with the debt of a third-party issuer ( the reference entity ) and which allow one party ( the protection purchaser ) to transfer that risk to another party ( the protection seller ) .credit derivatives expose the protection purchaser to the creditworthiness of the protection seller , as the protection seller is required to make payments under the contract when the reference entity experiences a credit event , such as a bankruptcy , a failure to pay its obligation or a restructuring .the seller of credit protection receives a premium for providing protection but has the risk that the underlying instrument referenced in the contract will be subject to a credit event .the firm is both a purchaser and seller of protection in the credit derivatives market and uses these derivatives for two primary purposes .first , in its capacity as a market-maker in the dealer/client business , the firm actively risk manages a portfolio of credit derivatives by purchasing and selling credit protection , pre- dominantly on corporate debt obligations , to meet the needs of customers .as a seller of protection , the firm 2019s exposure to a given reference entity may be offset partially , or entirely , with a contract to purchase protection from another counterparty on the same or similar reference entity .second , the firm uses credit derivatives to mitigate credit risk associated with its overall derivative receivables and traditional commercial credit lending exposures ( loans and unfunded commitments ) as well as to manage its exposure to residential and commercial mortgages .see note 3 on pages 156--- 173 of this annual report for further information on the firm 2019s mortgage-related exposures .in accomplishing the above , the firm uses different types of credit derivatives .following is a summary of various types of credit derivatives .credit default swaps credit derivatives may reference the credit of either a single refer- ence entity ( 201csingle-name 201d ) or a broad-based index , as described further below .the firm purchases and sells protection on both single- name and index-reference obligations .single-name cds and index cds contracts are both otc derivative contracts .single- name cds are used to manage the default risk of a single reference entity , while cds index are used to manage credit risk associated with the broader credit markets or credit market segments .like the s&p 500 and other market indices , a cds index is comprised of a portfolio of cds across many reference entities .new series of cds indices are established approximately every six months with a new underlying portfolio of reference entities to reflect changes in the credit markets .if one of the reference entities in the index experi- ences a credit event , then the reference entity that defaulted is removed from the index .cds can also be referenced against spe- cific portfolios of reference names or against customized exposure levels based on specific client demands : for example , to provide protection against the first $ 1 million of realized credit losses in a $ 10 million portfolio of exposure .such structures are commonly known as tranche cds .for both single-name cds contracts and index cds , upon the occurrence of a credit event , under the terms of a cds contract neither party to the cds contract has recourse to the reference entity .the protection purchaser has recourse to the protection seller for the difference between the face value of the cds contract and the fair value of the reference obligation at the time of settling the credit derivative contract , also known as the recovery value .the protection purchaser does not need to hold the debt instrument of the underlying reference entity in order to receive amounts due under the cds contract when a credit event occurs .credit-linked notes a credit linked note ( 201ccln 201d ) is a funded credit derivative where the issuer of the cln purchases credit protection on a referenced entity from the note investor .under the contract , the investor pays the issuer par value of the note at the inception of the transaction , and in return , the issuer pays periodic payments to the investor , based on the credit risk of the referenced entity .the issuer also repays the investor the par value of the note at maturity unless the reference entity experiences a specified credit event .in that event , the issuer is not obligated to repay the par value of the note , but rather , the issuer pays the investor the difference between the par value of the note .
|
what was the total collateral of all types december 31 , 2009?
|
80968000000
|
{
"answer": "80968000000",
"decimal": 80968000000,
"type": "float"
}
| |
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 the preliminary allocation of the purchase price to the fair value of assets acquired and liabilities assumed is as follows ( in millions ) : .
[['cash', '$ 116'], ['accounts receivable', '278'], ['inventory', '124'], ['other current assets', '41'], ['property plant and equipment', '2549'], ['intangible assets subject to amortization', '166'], ['intangible assets 2014indefinite-lived', '5'], ['regulatory assets', '201'], ['other noncurrent assets', '58'], ['current liabilities', '-401 ( 401 )'], ['non-recourse debt', '-1255 ( 1255 )'], ['deferred taxes', '-558 ( 558 )'], ['regulatory liabilities', '-117 ( 117 )'], ['other noncurrent liabilities', '-195 ( 195 )'], ['redeemable preferred stock', '-18 ( 18 )'], ['net identifiable assets acquired', '994'], ['goodwill', '2489'], ['net assets acquired', '$ 3483']]
at december 31 , 2011 , the assets acquired and liabilities assumed in the acquisition were recorded at provisional amounts based on the preliminary purchase price allocation .the company is in the process of obtaining additional information to identify and measure all assets acquired and liabilities assumed in the acquisition within the measurement period , which could be up to one year from the date of acquisition .such provisional amounts will be retrospectively adjusted to reflect any new information about facts and circumstances that existed at the acquisition date that , if known , would have affected the measurement of these amounts .additionally , key input assumptions and their sensitivity to the valuation of assets acquired and liabilities assumed are currently being reviewed by management .it is likely that the value of the generation business related property , plant and equipment , the intangible asset related to the electric security plan with its regulated customers and long-term coal contracts , the 4.9% ( 4.9 % ) equity ownership interest in the ohio valley electric corporation , and deferred taxes could change as the valuation process is finalized .dpler , dpl 2019s wholly-owned competitive retail electric service ( 201ccres 201d ) provider , will also likely have changes in its initial purchase price allocation for the valuation of its intangible assets for the trade name , and customer relationships and contracts .as noted in the table above , the preliminary purchase price allocation has resulted in the recognition of $ 2.5 billion of goodwill .factors primarily contributing to a price in excess of the fair value of the net tangible and intangible assets include , but are not limited to : the ability to expand the u.s .utility platform in the mid-west market , the ability to capitalize on utility management experience gained from ipl , enhanced ability to negotiate with suppliers of fuel and energy , the ability to capture value associated with aes 2019 u.s .tax position , a well- positioned generating fleet , the ability of dpl to leverage its assembled workforce to take advantage of growth opportunities , etc .our ability to realize the benefit of dpl 2019s goodwill depends on the realization of expected benefits resulting from a successful integration of dpl into aes 2019 existing operations and our ability to respond to the changes in the ohio utility market .for example , utilities in ohio continue to face downward pressure on operating margins due to the evolving regulatory environment , which is moving towards a market-based competitive pricing mechanism .at the same time , the declining energy prices are also reducing operating .
|
what percentage on net assets acquired is due to goodwill?
|
71%
|
{
"answer": "71%",
"decimal": 0.71,
"type": "percentage"
}
| |
25feb201400255845 performance graph the following graph compares the performance of our common stock with that of the s&p 500 index and the s&p 500 healthcare equipment index .the cumulative total return listed below assumes an initial investment of $ 100 on december 31 , 2008 and reinvestment of dividends .comparison of five year cumulative total return 2008 2009 2010 2011 20132012 edwards lifesciences s&p 500 s&p 500 healthcare equipment december 31 .
[['total cumulative return', '2009', '2010', '2011', '2012', '2013'], ['edwards lifesciences', '$ 158.05', '$ 294.23', '$ 257.32', '$ 328.19', '$ 239.34'], ['s&p 500', '126.46', '145.51', '148.59', '172.37', '228.19'], ['s&p 500 healthcare equipment index', '120.83', '117.02', '123.37', '145.84', '186.00']]
.
|
what was the cumulative percentage return for five year period ended 2013?
|
139.34%
|
{
"answer": "139.34%",
"decimal": 1.3934,
"type": "percentage"
}
| |
cgmhi also has substantial borrowing arrangements consisting of facilities that cgmhi has been advised are available , but where no contractual lending obligation exists .these arrangements are reviewed on an ongoing basis to ensure flexibility in meeting cgmhi 2019s short-term requirements .the company issues both fixed and variable rate debt in a range of currencies .it uses derivative contracts , primarily interest rate swaps , to effectively convert a portion of its fixed rate debt to variable rate debt and variable rate debt to fixed rate debt .the maturity structure of the derivatives generally corresponds to the maturity structure of the debt being hedged .in addition , the company uses other derivative contracts to manage the foreign exchange impact of certain debt issuances .at december 31 , 2008 , the company 2019s overall weighted average interest rate for long-term debt was 3.83% ( 3.83 % ) on a contractual basis and 4.19% ( 4.19 % ) including the effects of derivative contracts .aggregate annual maturities of long-term debt obligations ( based on final maturity dates ) including trust preferred securities are as follows : in millions of dollars 2009 2010 2011 2012 2013 thereafter .
[['in millions of dollars', '2009', '2010', '2011', '2012', '2013', 'thereafter'], ['citigroup parent company', '$ 13463', '$ 17500', '$ 19864', '$ 21135', '$ 17525', '$ 102794'], ['other citigroup subsidiaries', '55853', '16198', '18607', '2718', '4248', '11691'], ['citigroup global markets holdings inc .', '1524', '2352', '1487', '2893', '392', '11975'], ['citigroup funding inc .', '17632', '5381', '2154', '1253', '3790', '7164'], ['total', '$ 88472', '$ 41431', '$ 42112', '$ 27999', '$ 25955', '$ 133624']]
long-term debt at december 31 , 2008 and december 31 , 2007 includes $ 24060 million and $ 23756 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. .
|
what was the ratio of the junior subordinated debt . long-term debt of 2007 to 2008
|
0.98
|
{
"answer": "0.98",
"decimal": 0.98,
"type": "float"
}
| |
issuer purchases of equity securities in january 2017 , our board of directors authorized the repurchase of shares of our common stock with a value of up to $ 525 million in the aggregate .as of december 29 , 2018 , $ 175 million remained available under this authorization .in february 2019 , our board of directors authorized the additional repurchase of shares of our common stock with a value of up to $ 500.0 million in the aggregate .the actual timing and amount of repurchases are subject to business and market conditions , corporate and regulatory requirements , stock price , acquisition opportunities and other factors .the following table presents repurchases made under our current authorization and shares surrendered by employees to satisfy income tax withholding obligations during the three months ended december 29 , 2018 : period total number of shares purchased ( 1 ) average price paid per share ( 2 ) total number of shares purchased as part of publicly announced plan or program maximum dollar value of shares authorized for repurchase under publicly announced plan or program ( 1 ) ( in millions ) september 30 , 2018 2013 november 3 , 2018 543900 $ 42.64 495543 $ 254 november 4 , 2018 2013 december 1 , 2018 650048 $ 44.49 623692 $ 226 december 2 , 2018 2013 december 29 , 2018 1327657 $ 42.61 1203690 $ 175 .
[['period', 'total numberof sharespurchased ( 1 )', 'averageprice paidper share ( 2 )', 'total number ofshares purchasedas part ofpublicly announcedplan or program', 'maximum dollarvalue of sharesauthorized for repurchase underpublicly announcedplan or program ( 1 ) ( in millions )'], ['september 30 2018 2013 november 3 2018', '543900', '$ 42.64', '495543', '$ 254'], ['november 4 2018 2013 december 1 2018', '650048', '$ 44.49', '623692', '$ 226'], ['december 2 2018 2013 december 29 2018', '1327657', '$ 42.61', '1203690', '$ 175'], ['total', '2521605', '$ 43.10', '2322925', '']]
( 1 ) shares purchased that were not part of our publicly announced repurchase programs represent employee surrender of shares of restricted stock to satisfy employee income tax withholding obligations due upon vesting , and do not reduce the dollar value that may yet be purchased under our publicly announced repurchase programs .( 2 ) the weighted average price paid per share of common stock does not include the cost of commissions. .
|
what is the total cash outflow for stock repurchase in the last three months of 2018 , ( in millions ) ?
|
108.7
|
{
"answer": "108.7",
"decimal": 108.7,
"type": "float"
}
| |
packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2006 4 .stock-based compensation ( continued ) same period was $ 1988000 lower , than if it had continued to account for share-based compensation under apb no .25 .basic and diluted earnings per share for the year ended december 31 , 2006 were both $ 0.02 lower than if the company had continued to account for share-based compensation under apb no .25 .prior to the adoption of sfas no .123 ( r ) , the company presented all tax benefits of deductions resulting from share-based payment arrangements as operating cash flows in the statements of cash flows .sfas no .123 ( r ) requires the cash flows resulting from the tax benefits from tax deductions in excess of the compensation cost recognized for those share awards ( excess tax benefits ) to be classified as financing cash flows .the excess tax benefit of $ 2885000 classified as a financing cash inflow for the year ended december 31 , 2006 would have been classified as an operating cash inflow if the company had not adopted sfas no .123 ( r ) .as a result of adopting sfas no 123 ( r ) , unearned compensation previously recorded in stockholders 2019 equity was reclassified against additional paid in capital on january 1 , 2006 .all stock-based compensation expense not recognized as of december 31 , 2005 and compensation expense related to post 2005 grants of stock options and amortization of restricted stock will be recorded directly to additional paid in capital .compensation expense for stock options and restricted stock recognized in the statements of income for the year ended december 31 , 2006 , 2005 and 2004 was as follows : year ended december 31 , ( in thousands ) 2006 2005 2004 .
[['( in thousands )', 'year ended december 31 , 2006', 'year ended december 31 , 2005', 'year ended december 31 , 2004'], ['stock options', '$ -3273 ( 3273 )', '$ 2014', '$ 2014'], ['restricted stock', '-2789 ( 2789 )', '-1677 ( 1677 )', '-663 ( 663 )'], ['impact on income before income taxes', '-6062 ( 6062 )', '-1677 ( 1677 )', '-663 ( 663 )'], ['income tax benefit', '2382', '661', '260'], ['impact on net income', '$ -3680 ( 3680 )', '$ -1016 ( 1016 )', '$ -403 ( 403 )']]
.
|
what percent did restricted stock expense increase from 2004 to 2005?
|
39.5%
|
{
"answer": "39.5%",
"decimal": 0.395,
"type": "percentage"
}
| |
consolidated income statement review net income for 2009 was $ 2.4 billion and for 2008 was $ 914 million .amounts for 2009 include operating results of national city and the fourth quarter impact of a $ 687 million after-tax gain related to blackrock 2019s acquisition of bgi .increases in income statement comparisons to 2008 , except as noted , are primarily due to the operating results of national city .our consolidated income statement is presented in item 8 of this report .net interest income and net interest margin year ended december 31 dollars in millions 2009 2008 .
[['year ended december 31 dollars in millions', '2009', '2008'], ['net interest income', '$ 9083', '$ 3854'], ['net interest margin', '3.82% ( 3.82 % )', '3.37% ( 3.37 % )']]
changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding .see statistical information 2013 analysis of year-to-year changes in net interest ( unaudited ) income and average consolidated balance sheet and net interest analysis in item 8 of this report for additional information .higher net interest income for 2009 compared with 2008 reflected the increase in average interest-earning assets due to national city and the improvement in the net interest margin .the net interest margin was 3.82% ( 3.82 % ) for 2009 and 3.37% ( 3.37 % ) for 2008 .the following factors impacted the comparison : 2022 a decrease in the rate accrued on interest-bearing liabilities of 97 basis points .the rate accrued on interest-bearing deposits , the largest component , decreased 107 basis points .2022 these factors were partially offset by a 45 basis point decrease in the yield on interest-earning assets .the yield on loans , which represented the largest portion of our earning assets in 2009 , decreased 30 basis points .2022 in addition , the impact of noninterest-bearing sources of funding decreased 7 basis points .for comparing to the broader market , the average federal funds rate was .16% ( .16 % ) for 2009 compared with 1.94% ( 1.94 % ) for 2008 .we expect our net interest income for 2010 will likely be modestly lower as a result of cash recoveries on purchased impaired loans in 2009 and additional run-off of higher- yielding assets , which could be mitigated by rising interest rates .this assumes our current expectations for interest rates and economic conditions 2013 we include our current economic assumptions underlying our forward-looking statements in the cautionary statement regarding forward-looking information section of this item 7 .noninterest income summary noninterest income was $ 7.1 billion for 2009 and $ 2.4 billion for 2008 .noninterest income for 2009 included the following : 2022 the gain on blackrock/bgi transaction of $ 1.076 billion , 2022 net credit-related other-than-temporary impairments ( otti ) on debt and equity securities of $ 577 million , 2022 net gains on sales of securities of $ 550 million , 2022 gains on hedging of residential mortgage servicing rights of $ 355 million , 2022 valuation and sale income related to our commercial mortgage loans held for sale , net of hedges , of $ 107 million , 2022 gains of $ 103 million related to our blackrock ltip shares adjustment in the first quarter , and net losses on private equity and alternative investments of $ 93 million .noninterest income for 2008 included the following : 2022 net otti on debt and equity securities of $ 312 million , 2022 gains of $ 246 million related to our blackrock ltip shares adjustment , 2022 valuation and sale losses related to our commercial mortgage loans held for sale , net of hedges , of $ 197 million , 2022 impairment and other losses related to private equity and alternative investments of $ 180 million , 2022 income from hilliard lyons totaling $ 164 million , including the first quarter gain of $ 114 million from the sale of this business , 2022 net gains on sales of securities of $ 106 million , and 2022 a gain of $ 95 million related to the redemption of a portion of our visa class b common shares related to visa 2019s march 2008 initial public offering .additional analysis asset management revenue increased $ 172 million to $ 858 million in 2009 , compared with $ 686 million in 2008 .this increase reflected improving equity markets , new business generation and a shift in assets into higher yielding equity investments during the second half of 2009 .assets managed totaled $ 103 billion at both december 31 , 2009 and 2008 , including the impact of national city .the asset management group section of the business segments review section of this item 7 includes further discussion of assets under management .consumer services fees totaled $ 1.290 billion in 2009 compared with $ 623 million in 2008 .service charges on deposits totaled $ 950 million for 2009 and $ 372 million for 2008 .both increases were primarily driven by the impact of the national city acquisition .reduced consumer spending .
|
what was the percentage change in the asset management revenue from 2008 to 2009
|
25.1%
|
{
"answer": "25.1%",
"decimal": 0.251,
"type": "percentage"
}
| |
table of contents interest expense , net of capitalized interest increased $ 64 million , or 9.8% ( 9.8 % ) , to $ 710 million in 2013 from $ 646 million in 2012 primarily due to special charges of $ 92 million to recognize post-petition interest expense on unsecured obligations pursuant to the plan and penalty interest related to 10.5% ( 10.5 % ) secured notes and 7.50% ( 7.50 % ) senior secured notes .other nonoperating expense , net of $ 84 million in 2013 consists principally of net foreign currency losses of $ 55 million and early debt extinguishment charges of $ 48 million .other nonoperating income in 2012 consisted principally of a $ 280 million special credit related to the settlement of a commercial dispute partially offset by net foreign currency losses .reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases .the following table summarizes the components included in reorganization items , net on american 2019s consolidated statements of operations for the years ended december 31 , 2013 and 2012 ( in millions ) : .
[['', '2013', '2012'], ['pension and postretirement benefits', '$ 2014', '$ -66 ( 66 )'], ['labor-related deemed claim ( 1 )', '1733', '2014'], ['aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )', '320', '1951'], ['fair value of conversion discount ( 4 )', '218', '2014'], ['professional fees', '199', '227'], ['other', '170', '67'], ['total reorganization items net', '$ 2640', '$ 2179']]
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees .each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes .the total value of this deemed claim was approximately $ 1.7 billion .( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds .the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify such financing or facility agreement and the debtors believed that it was probable the motion would be approved , and there was sufficient information to estimate the claim .see note 2 to american 2019s consolidated financial statements in part ii , item 8b for further information .( 3 ) pursuant to the plan , the debtors agreed to allow certain post-petition unsecured claims on obligations .as a result , during the year ended december 31 , 2013 , american recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $ 180 million , allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at jfk , and rejected bonds that financed certain improvements at ord , which are included in the table above .( 4 ) the plan allowed unsecured creditors receiving aag series a preferred stock a conversion discount of 3.5% ( 3.5 % ) .accordingly , american recorded the fair value of such discount upon the confirmation of the plan by the bankruptcy court. .
|
by how much did aircraft and facility financing renegotiations and rejections decrease from 2012 to 2013?
|
-83.6%
|
{
"answer": "-83.6%",
"decimal": -0.836,
"type": "percentage"
}
| |
mastercard incorporated notes to consolidated financial statements 2014continued in september 2010 , the company 2019s board of directors authorized a plan for the company to repurchase up to $ 1 billion of its class a common stock in open market transactions .the company did not repurchase any shares under this plan during 2010 .as of february 16 , 2011 , the company had completed the repurchase of approximately 0.3 million shares of its class a common stock at a cost of approximately $ 75 million .note 18 .share based payment and other benefits in may 2006 , the company implemented the mastercard incorporated 2006 long-term incentive plan , which was amended and restated as of october 13 , 2008 ( the 201cltip 201d ) .the ltip is a shareholder-approved omnibus plan that permits the grant of various types of equity awards to employees .the company has granted restricted stock units ( 201crsus 201d ) , non-qualified stock options ( 201coptions 201d ) and performance stock units ( 201cpsus 201d ) under the ltip .the rsus generally vest after three to four years .the options , which expire ten years from the date of grant , generally vest ratably over four years from the date of grant .the psus generally vest after three years .additionally , the company made a one-time grant to all non-executive management employees upon the ipo for a total of approximately 440 thousand rsus ( the 201cfounders 2019 grant 201d ) .the founders 2019 grant rsus vested three years from the date of grant .the company uses the straight-line method of attribution for expensing equity awards .compensation expense is recorded net of estimated forfeitures .estimates are adjusted as appropriate .upon termination of employment , excluding retirement , all of a participant 2019s unvested awards are forfeited .however , when a participant terminates employment due to retirement , the participant generally retains all of their awards without providing additional service to the company .eligible retirement is dependent upon age and years of service , as follows : age 55 with ten years of service , age 60 with five years of service and age 65 with two years of service .compensation expense is recognized over the shorter of the vesting periods stated in the ltip , or the date the individual becomes eligible to retire .there are 11550000 shares of class a common stock reserved for equity awards under the ltip .although the ltip permits the issuance of shares of class b common stock , no such shares have been reserved for issuance .shares issued as a result of option exercises and the conversions of rsus and psus are expected to be funded primarily with the issuance of new shares of class a common stock .stock options the fair value of each option is estimated on the date of grant using a black-scholes option pricing model .the following table presents the weighted-average assumptions used in the valuation and the resulting weighted- average fair value per option granted for the years ended december 31: .
[['', '2010', '2009', '2008'], ['risk-free rate of return', '2.7% ( 2.7 % )', '2.5% ( 2.5 % )', '3.2% ( 3.2 % )'], ['expected term ( in years )', '6.25', '6.17', '6.25'], ['expected volatility', '32.7% ( 32.7 % )', '41.7% ( 41.7 % )', '37.9% ( 37.9 % )'], ['expected dividend yield', '0.3% ( 0.3 % )', '0.4% ( 0.4 % )', '0.3% ( 0.3 % )'], ['weighted-average fair value per option granted', '$ 84.62', '$ 71.03', '$ 78.54']]
the risk-free rate of return was based on the u.s .treasury yield curve in effect on the date of grant .the company utilizes the simplified method for calculating the expected term of the option based on the vesting terms and the contractual life of the option .the expected volatility for options granted during 2010 and 2009 was based on the average of the implied volatility of mastercard and a blend of the historical volatility of mastercard and the historical volatility of a group of companies that management believes is generally comparable to .
|
what was the percentage change in the risk-free rate of return from 2009 to 2010
|
8%
|
{
"answer": "8%",
"decimal": 0.08,
"type": "percentage"
}
|
the risk-free rate of return increased by 8% from 2009 to 2010
|
compared to earlier levels .the pre-tax non-cash impairments of certain mineral rights and real estate discussed above under the caption fffdland and development impairments fffd are not included in segment income .liquidity and capital resources on january 29 , 2018 , we announced that a definitive agreement had been signed for us to acquire all of the outstanding shares of kapstone for $ 35.00 per share and the assumption of approximately $ 1.36 billion in net debt , for a total enterprise value of approximately $ 4.9 billion .in contemplation of the transaction , on march 6 , 2018 , we issued $ 600.0 million aggregate principal amount of 3.75% ( 3.75 % ) senior notes due 2025 and $ 600.0 million aggregate principal amount of 4.0% ( 4.0 % ) senior notes due 2028 in an unregistered offering pursuant to rule 144a and regulation s under the securities act of 1933 , as amended ( the fffdsecurities act fffd ) .in addition , on march 7 , 2018 , we entered into the delayed draw credit facilities ( as hereinafter defined ) that provide for $ 3.8 billion of senior unsecured term loans .on november 2 , 2018 , in connection with the closing of the kapstone acquisition , we drew upon the facility in full .the proceeds of the delayed draw credit facilities ( as hereinafter defined ) and other sources of cash were used to pay the consideration for the kapstone acquisition , to repay certain existing indebtedness of kapstone and to pay fees and expenses incurred in connection with the kapstone acquisition .we fund our working capital requirements , capital expenditures , mergers , acquisitions and investments , restructuring activities , dividends and stock repurchases from net cash provided by operating activities , borrowings under our credit facilities , proceeds from our new a/r sales agreement ( as hereinafter defined ) , proceeds from the sale of property , plant and equipment removed from service and proceeds received in connection with the issuance of debt and equity securities .see fffdnote 13 .debt fffdtt of the notes to consolidated financial statements for additional information .funding for our domestic operations in the foreseeable future is expected to come from sources of liquidity within our domestic operations , including cash and cash equivalents , and available borrowings under our credit facilities .as such , our foreign cash and cash equivalents are not expected to be a key source of liquidity to our domestic operations .at september 30 , 2018 , excluding the delayed draw credit facilities , we had approximately $ 3.2 billion of availability under our committed credit facilities , primarily under our revolving credit facility , the majority of which matures on july 1 , 2022 .this liquidity may be used to provide for ongoing working capital needs and for other general corporate purposes , including acquisitions , dividends and stock repurchases .certain restrictive covenants govern our maximum availability under the credit facilities .we test and report our compliance with these covenants as required and we were in compliance with all of these covenants at september 30 , 2018 .at september 30 , 2018 , we had $ 104.9 million of outstanding letters of credit not drawn cash and cash equivalents were $ 636.8 million at september 30 , 2018 and $ 298.1 million at september 30 , 2017 .we used a significant portion of the cash and cash equivalents on hand at september 30 , 2018 in connection with the closing of the kapstone acquisition .approximately 20% ( 20 % ) of the cash and cash equivalents at september 30 , 2018 were held outside of the u.s .at september 30 , 2018 , total debt was $ 6415.2 million , $ 740.7 million of which was current .at september 30 , 2017 , total debt was $ 6554.8 million , $ 608.7 million of which was current .cash flow activityy .
[['( in millions )', 'year ended september 30 , 2018', 'year ended september 30 , 2017', 'year ended september 30 , 2016'], ['net cash provided by operating activities', '$ 2420.9', '$ 1900.5', '$ 1688.4'], ['net cash used for investing activities', '$ -1298.9 ( 1298.9 )', '$ -1285.8 ( 1285.8 )', '$ -1351.4 ( 1351.4 )'], ['net cash used for financing activities', '$ -755.1 ( 755.1 )', '$ -655.4 ( 655.4 )', '$ -231.0 ( 231.0 )']]
net cash provided by operating activities during fiscal 2018 increased $ 520.4 million from fiscal 2017 primarily due to higher cash earnings and lower cash taxes due to the impact of the tax act .net cash provided by operating activities during fiscal 2017 increased $ 212.1 million from fiscal 2016 primarily due to a $ 111.6 million net increase in cash flow from working capital changes plus higher after-tax cash proceeds from our land and development segment fffds accelerated monetization .the changes in working capital in fiscal 2018 , 2017 and 2016 included a .
|
what percent of the increase in net cash from operations between 2016 and 2017 was due to working capital changes?
|
52.62%
|
{
"answer": "52.62%",
"decimal": 0.5262,
"type": "percentage"
}
| |
shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the sec , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing .the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index and the dow jones transportation average .the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2011 in the standard & poor 2019s 500 index , the dow jones transportation average and our class b common stock. .
[['', '12/31/2011', '12/31/2012', '12/31/2013', '12/31/2014', '12/31/2015', '12/31/2016'], ['united parcel service inc .', '$ 100.00', '$ 103.84', '$ 152.16', '$ 165.35', '$ 154.61', '$ 189.72'], ['standard & poor 2019s 500 index', '$ 100.00', '$ 115.99', '$ 153.54', '$ 174.54', '$ 176.94', '$ 198.09'], ['dow jones transportation average', '$ 100.00', '$ 107.49', '$ 151.97', '$ 190.07', '$ 158.22', '$ 192.80']]
.
|
what was the difference in percentage cumulative total shareowners return for united parcel service inc . versus the standard & poor's 500 index for the five years ended 12/31/2016?
|
-8.37%
|
{
"answer": "-8.37%",
"decimal": -0.0837,
"type": "percentage"
}
| |
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 16 , 2017 , there were 60763 common shareholders of record .holders of pnc common stock are entitled to receive dividends when declared by the 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 capital and liquidity 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 additional information relating to pnc common stock under the common stock prices/ dividends declared section in the statistical information ( unaudited ) section of item 8 of this report .we include here by reference the information regarding our compensation plans under which pnc equity securities are authorized for issuance as of december 31 , 2016 in the table ( with introductory paragraph and notes ) that appears 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 registered shareholders may contact this phone number 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 2016 are included in the following table : in thousands , except per share data 2016 period total shares purchased ( a ) average paid per total shares purchased as part of publicly announced programs ( b ) maximum number of shares that may yet be purchased under the programs ( b ) .
[['2016 period', 'total sharespurchased ( a )', 'averagepricepaid pershare', 'total sharespurchased aspartofpubliclyannouncedprograms ( b )', 'maximumnumber ofshares thatmay yet bepurchasedundertheprograms ( b )'], ['october 1 2013 31', '2277', '$ 91.15', '2245', '61962'], ['november 1 2013 30', '1243', '$ 103.50', '1243', '60719'], ['december 1 2013 31', '1449', '$ 115.65', '1449', '59270'], ['total', '4969', '$ 101.39', '', '']]
( 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 the establishment of 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 2016 , we announced share repurchase programs of up to $ 2.0 billion for the four quarter period beginning with the third quarter of 2016 , including repurchases of up to $ 200 million related to employee benefit plans .in january 2017 , we announced a $ 300 million increase in our share repurchase programs for this period .in the fourth quarter of 2016 , we repurchased 4.9 million shares of common stock on the open market , with an average price of $ 101.47 per share and an aggregate repurchase price of $ .5 billion .see the liquidity and capital management portion of the risk management section in item 7 of this report for more information on the share repurchase programs under the share repurchase authorization for the period july 1 , 2016 through june 30 , 2017 included in the 2016 capital plan accepted by the federal reserve .28 the pnc financial services group , inc .2013 form 10-k .
|
for the fourth quarter of 2016 , what was the total amount spent to repurchase shares ( in thousands ) ?\\n
|
503807
|
{
"answer": "503807",
"decimal": 503807,
"type": "float"
}
| |
management 2019s discussion and analysis jpmorgan chase & co./2009 annual report 130 the following histogram illustrates the daily market risk 2013related gains and losses for ib and consumer/cio positions for 2009 .the chart shows that the firm posted market risk 2013related gains on 227 out of 261 days in this period , with 69 days exceeding $ 160 million .the inset graph looks at those days on which the firm experienced losses and depicts the amount by which the 95% ( 95 % ) confidence level var exceeded the actual loss on each of those days .losses were sustained on 34 days during 2009 and exceeded the var measure on one day due to high market volatility in the first quarter of 2009 .under the 95% ( 95 % ) confidence interval , the firm would expect to incur daily losses greater than that pre- dicted by var estimates about twelve times a year .the following table provides information about the gross sensitivity of dva to a one-basis-point increase in jpmorgan chase 2019s credit spreads .this sensitivity represents the impact from a one-basis-point parallel shift in jpmorgan chase 2019s entire credit curve .as credit curves do not typically move in a parallel fashion , the sensitivity multiplied by the change in spreads at a single maturity point may not be representative of the actual revenue recognized .debit valuation adjustment sensitivity 1 basis point increase in ( in millions ) jpmorgan chase credit spread .
[['( in millions )', '1 basis point increase in jpmorgan chase credit spread'], ['december 31 2009', '$ 39'], ['december 31 2008', '$ 37']]
loss advisories and drawdowns loss advisories and drawdowns are tools used to highlight to senior management trading losses above certain levels and initiate discus- sion of remedies .economic value stress testing while var reflects the risk of loss due to adverse changes in normal markets , stress testing captures the firm 2019s exposure to unlikely but plausible events in abnormal markets .the firm conducts economic- value stress tests using multiple scenarios that assume credit spreads widen significantly , equity prices decline and significant changes in interest rates across the major currencies .other scenar- ios focus on the risks predominant in individual business segments and include scenarios that focus on the potential for adverse movements in complex portfolios .scenarios were updated more frequently in 2009 and , in some cases , redefined to reflect the signifi- cant market volatility which began in late 2008 .along with var , stress testing is important in measuring and controlling risk .stress testing enhances the understanding of the firm 2019s risk profile and loss potential , and stress losses are monitored against limits .stress testing is also utilized in one-off approvals and cross-business risk measurement , as well as an input to economic capital allocation .stress-test results , trends and explanations based on current market risk positions are reported to the firm 2019s senior management and to the lines of business to help them better measure and manage risks and to understand event risk 2013sensitive positions. .
|
by how many trading days did the daily net gains exceed daily net losses?
|
193
|
{
"answer": "193",
"decimal": 193,
"type": "float"
}
| |
notes to consolidated financial statements note 10 .securitization activities the firm securitizes residential and commercial mortgages , corporate bonds , loans and other types of financial assets by selling these assets to securitization vehicles ( e.g. , trusts , corporate entities and limited liability companies ) or through a resecuritization .the firm acts as underwriter of the beneficial interests that are sold to investors .the firm 2019s residential mortgage securitizations are substantially all in connection with government agency securitizations .beneficial interests issued by securitization entities are debt or equity securities that give the investors rights to receive all or portions of specified cash inflows to a securitization vehicle and include senior and subordinated interests in principal , interest and/or other cash inflows .the proceeds from the sale of beneficial interests are used to pay the transferor for the financial assets sold to the securitization vehicle or to purchase securities which serve as collateral .the firm accounts for a securitization as a sale when it has relinquished control over the transferred assets .prior to securitization , the firm accounts for assets pending transfer at fair value and therefore does not typically recognize significant gains or losses upon the transfer of assets .net revenues from underwriting activities are recognized in connection with the sales of the underlying beneficial interests to investors .for transfers of assets that are not accounted for as sales , the assets remain in 201cfinancial instruments owned , at fair value 201d and the transfer is accounted for as a collateralized financing , with the related interest expense recognized over the life of the transaction .see notes 9 and 23 for further information about collateralized financings and interest expense , respectively .the firm generally receives cash in exchange for the transferred assets but may also have continuing involvement with transferred assets , including ownership of beneficial interests in securitized financial assets , primarily in the form of senior or subordinated securities .the firm may also purchase senior or subordinated securities issued by securitization vehicles ( which are typically vies ) in connection with secondary market-making activities .the primary risks included in beneficial interests and other interests from the firm 2019s continuing involvement with securitization vehicles are the performance of the underlying collateral , the position of the firm 2019s investment in the capital structure of the securitization vehicle and the market yield for the security .these interests are accounted for at fair value and are included in 201cfinancial instruments owned , at fair value 201d and are generally classified in level 2 of the fair value hierarchy .see notes 5 through 8 for further information about fair value measurements .the table below presents the amount of financial assets securitized and the cash flows received on retained interests in securitization entities in which the firm had continuing involvement. .
[['in millions', 'year ended december 2013', 'year ended december 2012', 'year ended december 2011'], ['residential mortgages', '$ 29772', '$ 33755', '$ 40131'], ['commercial mortgages', '6086', '300', '2014'], ['other financial assets', '2014', '2014', '269'], ['total', '$ 35858', '$ 34055', '$ 40400'], ['cash flows on retained interests', '$ 249', '$ 389', '$ 569']]
goldman sachs 2013 annual report 165 .
|
in millions for 2013 , 2012 , and 2011 , what was total commercial mortgages?
|
6386
|
{
"answer": "6386",
"decimal": 6386,
"type": "float"
}
| |
item 7 .management 2019s discussion and analysis of financial condition and results of operations the following discussion and analysis is based primarily on the consolidated financial statements of welltower inc .for the periods presented and should be read together with the notes thereto contained in this annual report on form 10-k .other important factors are identified in 201citem 1 2014 business 201d and 201citem 1a 2014 risk factors 201d above .executive summary company overview welltower inc .( nyse : hcn ) , an s&p 500 company headquartered in toledo , ohio , is driving the transformation of health care infrastructure .the company invests with leading seniors housing operators , post- acute providers and health systems to fund the real estate and infrastructure needed to scale innovative care delivery models and improve people 2019s wellness and overall health care experience .welltowertm , a real estate investment trust ( 201creit 201d ) , owns interests in properties concentrated in major , high-growth markets in the united states , canada and the united kingdom , consisting of seniors housing and post-acute communities and outpatient medical properties .our capital programs , when combined with comprehensive planning , development and property management services , make us a single-source solution for acquiring , planning , developing , managing , repositioning and monetizing real estate assets .the following table summarizes our consolidated portfolio for the year ended december 31 , 2016 ( dollars in thousands ) : type of property net operating income ( noi ) ( 1 ) percentage of number of properties .
[['type of property', 'net operating income ( noi ) ( 1 )', 'percentage of noi', 'number of properties'], ['triple-net', '$ 1208860', '50.3% ( 50.3 % )', '631'], ['seniors housing operating', '814114', '33.9% ( 33.9 % )', '420'], ['outpatient medical', '380264', '15.8% ( 15.8 % )', '262'], ['totals', '$ 2403238', '100.0% ( 100.0 % )', '1313']]
( 1 ) excludes our share of investments in unconsolidated entities and non-segment/corporate noi .entities in which we have a joint venture with a minority partner are shown at 100% ( 100 % ) of the joint venture amount .business strategy our primary objectives are to protect stockholder capital and enhance stockholder value .we seek to pay consistent cash dividends to stockholders and create opportunities to increase dividend payments to stockholders as a result of annual increases in net operating income and portfolio growth .to meet these objectives , we invest across the full spectrum of seniors housing and health care real estate and diversify our investment portfolio by property type , relationship and geographic location .substantially all of our revenues are derived from operating lease rentals , resident fees and services , and interest earned on outstanding loans receivable .these items represent our primary sources of liquidity to fund distributions and depend upon the continued ability of our obligors to make contractual rent and interest payments to us and the profitability of our operating properties .to the extent that our customers/partners experience operating difficulties and become unable to generate sufficient cash to make payments to us , there could be a material adverse impact on our consolidated results of operations , liquidity and/or financial condition .to mitigate this risk , we monitor our investments through a variety of methods determined by the type of property .our proactive and comprehensive asset management process for seniors housing properties generally includes review of monthly financial statements and other operating data for each property , review of obligor/ partner creditworthiness , property inspections , and review of covenant compliance relating to licensure , real estate taxes , letters of credit and other collateral .our internal property management division actively manages and monitors the outpatient medical portfolio with a comprehensive process including review of tenant relations , lease expirations , the mix of health service providers , hospital/health system relationships , property performance .
|
what portion of the total properties is related to outpatient medical?
|
20.0%
|
{
"answer": "20.0%",
"decimal": 0.2,
"type": "percentage"
}
| |
during fiscal 2006 , we repurchased 19 million shares of common stock for an aggregate purchase price of $ 892 million , of which $ 7 million settled after the end of our fiscal year .in fiscal 2005 , we repurchased 17 million shares of common stock for an aggregate purchase price of $ 771 million .a total of 146 million shares were held in treasury at may 28 , 2006 .we also used cash from operations to repay $ 189 million in outstanding debt in fiscal 2006 .in fiscal 2005 , we repaid nearly $ 2.2 billion of debt , including the purchase of $ 760 million principal amount of our 6 percent notes due in 2012 .fiscal 2005 debt repurchase costs were $ 137 million , consisting of $ 73 million of noncash interest rate swap losses reclassified from accumulated other comprehen- sive income , $ 59 million of purchase premium and $ 5 million of noncash unamortized cost of issuance expense .capital structure in millions may 28 , may 29 .
[['in millions', 'may 282006', 'may 292005'], ['notes payable', '$ 1503', '$ 299'], ['current portion of long-term debt', '2131', '1638'], ['long-term debt', '2415', '4255'], ['total debt', '6049', '6192'], ['minority interests', '1136', '1133'], ['stockholders 2019 equity', '5772', '5676'], ['total capital', '$ 12957', '$ 13001']]
we have $ 2.1 billion of long-term debt maturing in the next 12 months and classified as current , including $ 131 million that may mature in fiscal 2007 based on the put rights of those note holders .we believe that cash flows from operations , together with available short- and long- term debt financing , will be adequate to meet our liquidity and capital needs for at least the next 12 months .on october 28 , 2005 , we repurchased a significant portion of our zero coupon convertible debentures pursuant to put rights of the holders for an aggregate purchase price of $ 1.33 billion , including $ 77 million of accreted original issue discount .these debentures had an aggregate prin- cipal amount at maturity of $ 1.86 billion .we incurred no gain or loss from this repurchase .as of may 28 , 2006 , there were $ 371 million in aggregate principal amount at matu- rity of the debentures outstanding , or $ 268 million of accreted value .we used proceeds from the issuance of commercial paper to fund the purchase price of the deben- tures .we also have reclassified the remaining zero coupon convertible debentures to long-term debt based on the october 2008 put rights of the holders .on march 23 , 2005 , we commenced a cash tender offer for our outstanding 6 percent notes due in 2012 .the tender offer resulted in the purchase of $ 500 million principal amount of the notes .subsequent to the expiration of the tender offer , we purchased an additional $ 260 million prin- cipal amount of the notes in the open market .the aggregate purchases resulted in the debt repurchase costs as discussed above .our minority interests consist of interests in certain of our subsidiaries that are held by third parties .general mills cereals , llc ( gmc ) , our subsidiary , holds the manufac- turing assets and intellectual property associated with the production and retail sale of big g ready-to-eat cereals , progresso soups and old el paso products .in may 2002 , one of our wholly owned subsidiaries sold 150000 class a preferred membership interests in gmc to an unrelated third-party investor in exchange for $ 150 million , and in october 2004 , another of our wholly owned subsidiaries sold 835000 series b-1 preferred membership interests in gmc in exchange for $ 835 million .all interests in gmc , other than the 150000 class a interests and 835000 series b-1 interests , but including all managing member inter- ests , are held by our wholly owned subsidiaries .in fiscal 2003 , general mills capital , inc .( gm capital ) , a subsidiary formed for the purpose of purchasing and collecting our receivables , sold $ 150 million of its series a preferred stock to an unrelated third-party investor .the class a interests of gmc receive quarterly preferred distributions at a floating rate equal to ( i ) the sum of three- month libor plus 90 basis points , divided by ( ii ) 0.965 .this rate will be adjusted by agreement between the third- party investor holding the class a interests and gmc every five years , beginning in june 2007 .under certain circum- stances , gmc also may be required to be dissolved and liquidated , including , without limitation , the bankruptcy of gmc or its subsidiaries , failure to deliver the preferred distributions , failure to comply with portfolio requirements , breaches of certain covenants , lowering of our senior debt rating below either baa3 by moody 2019s or bbb by standard & poor 2019s , and a failed attempt to remarket the class a inter- ests as a result of a breach of gmc 2019s obligations to assist in such remarketing .in the event of a liquidation of gmc , each member of gmc would receive the amount of its then current capital account balance .the managing member may avoid liquidation in most circumstances by exercising an option to purchase the class a interests .the series b-1 interests of gmc are entitled to receive quarterly preferred distributions at a fixed rate of 4.5 percent per year , which is scheduled to be reset to a new fixed rate through a remarketing in october 2007 .beginning in october 2007 , the managing member of gmc may elect to repurchase the series b-1 interests for an amount equal to the holder 2019s then current capital account balance plus any applicable make-whole amount .gmc is not required to purchase the series b-1 interests nor may these investors put these interests to us .the series b-1 interests will be exchanged for shares of our perpetual preferred stock upon the occurrence of any of the following events : our senior unsecured debt rating falling below either ba3 as rated by moody 2019s or bb- as rated by standard & poor 2019s or fitch , inc. .
|
in 2006 what was the percent of the capital structure of total debt that was current portion of long-term debt
|
35.2%
|
{
"answer": "35.2%",
"decimal": 0.35200000000000004,
"type": "percentage"
}
| |
j.p .morgan chase & co ./ 2003 annual report 33 corporate credit allocation in 2003 , tss was assigned a corporate credit allocation of pre- tax earnings and the associated capital related to certain credit exposures managed within ib 2019s credit portfolio on behalf of clients shared with tss .prior periods have been revised to reflect this allocation .for 2003 , the impact to tss of this change increased pre-tax operating results by $ 36 million and average allocated capital by $ 712 million , and it decreased sva by $ 65 million .pre-tax operating results were $ 46 million lower than in 2002 , reflecting lower loan volumes and higher related expenses , slightly offset by a decrease in credit costs .business outlook tss revenue in 2004 is expected to benefit from improved global equity markets and from two recent acquisitions : the november 2003 acquisition of the bank one corporate trust portfolio , and the january 2004 acquisition of citigroup 2019s electronic funds services business .tss also expects higher costs as it integrates these acquisitions and continues strategic investments to sup- port business expansion .by client segment tss dimensions of 2003 revenue diversification by business revenue by geographic region investor services 36% ( 36 % ) other 1% ( 1 % ) institutional trust services 23% ( 23 % ) treasury services 40% ( 40 % ) large corporations 21% ( 21 % ) middle market 18% ( 18 % ) banks 11% ( 11 % ) nonbank financial institutions 44% ( 44 % ) public sector/governments 6% ( 6 % ) europe , middle east & africa 27% ( 27 % ) asia/pacific 9% ( 9 % ) the americas 64% ( 64 % ) ( a ) includes the elimination of revenue related to shared activities with chase middle market in the amount of $ 347 million .year ended december 31 , operating revenue .
[['year ended december 31 , ( in millions )', 'year ended december 31 , 2003', 'year ended december 31 , 2002', 'change'], ['treasury services', '$ 1927', '$ 1818', '6% ( 6 % )'], ['investor services', '1449', '1513', '-4 ( 4 )'], ['institutional trust services ( a )', '928', '864', '7'], ['other ( a ) ( b )', '-312 ( 312 )', '-303 ( 303 )', '-3 ( 3 )'], ['total treasury & securities services', '$ 3992', '$ 3892', '3% ( 3 % )']]
( a ) includes a portion of the $ 41 million gain on sale of a nonstrategic business in 2003 : $ 1 million in institutional trust services and $ 40 million in other .( b ) includes the elimination of revenues related to shared activities with chase middle market , and a $ 50 million gain on sale of a non-u.s .securities clearing firm in 2002. .
|
in 2003 what was the ratio of the investor services to treasury services revenues
|
0.75
|
{
"answer": "0.75",
"decimal": 0.75,
"type": "float"
}
| |
notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) the estimated future benefit payments expected to be paid are presented below .domestic pension plan foreign pension plans domestic postretirement benefit plan .
[['years', 'domesticpension plan', 'foreignpension plans', 'domestic postretirementbenefit plan'], ['2019', '$ 14.5', '$ 21.7', '$ 3.0'], ['2020', '8.8', '18.7', '2.8'], ['2021', '8.0', '19.8', '2.6'], ['2022', '8.3', '20.9', '2.4'], ['2023', '7.8', '21.8', '2.2'], ['2024 - 2028', '36.7', '117.2', '9.8']]
the estimated future payments for our domestic postretirement benefit plan are net of any estimated u.s .federal subsidies expected to be received under the medicare prescription drug , improvement and modernization act of 2003 , which total no more than $ 0.3 in any individual year .savings plans we sponsor defined contribution plans ( the 201csavings plans 201d ) that cover substantially all domestic employees .the savings plans permit participants to make contributions on a pre-tax and/or after-tax basis and allow participants to choose among various investment alternatives .we match a portion of participant contributions based upon their years of service .amounts expensed for the savings plans for 2018 , 2017 and 2016 were $ 52.6 , $ 47.2 and $ 47.0 , respectively .expenses include a discretionary company contribution of $ 6.7 , $ 3.6 and $ 6.1 offset by participant forfeitures of $ 5.8 , $ 4.6 and $ 4.4 in 2018 , 2017 and 2016 , respectively .in addition , we maintain defined contribution plans in various foreign countries and contributed $ 51.3 , $ 47.4 and $ 44.5 to these plans in 2018 , 2017 and 2016 , respectively .deferred compensation and benefit arrangements we have deferred compensation and benefit arrangements which ( i ) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation or ( ii ) require us to contribute an amount to the participant 2019s account .these arrangements may provide participants with the amounts deferred plus interest upon attaining certain conditions , such as completing a certain number of years of service , attaining a certain age or upon retirement or termination .as of december 31 , 2018 and 2017 , the deferred compensation and deferred benefit liability balance was $ 196.2 and $ 213.2 , respectively .amounts expensed for deferred compensation and benefit arrangements in 2018 , 2017 and 2016 were $ 10.0 , $ 18.5 and $ 18.5 , respectively .we have purchased life insurance policies on participants 2019 lives to assist in the funding of the related deferred compensation and deferred benefit liabilities .as of december 31 , 2018 and 2017 , the cash surrender value of these policies was $ 177.3 and $ 177.4 , respectively .long-term disability plan we have a long-term disability plan which provides income replacement benefits to eligible participants who are unable to perform their job duties or any job related to his or her education , training or experience .as all income replacement benefits are fully insured , no related obligation is required as of december 31 , 2018 and 2017 .in addition to income replacement benefits , plan participants may remain covered for certain health and life insurance benefits up to normal retirement age , and accordingly , we have recorded an obligation of $ 5.9 and $ 8.4 as of december 31 , 2018 and 2017 , respectively. .
|
what is the percentage decrease between the amounts expensed for deferred compensation and deferred benefit liability in 2017 and 2018?
|
7.97%
|
{
"answer": "7.97%",
"decimal": 0.0797,
"type": "percentage"
}
| |
operating profit for the segment increased 10% ( 10 % ) in 2009 compared to 2008 .the growth in operating profit primarily was due to increases in air mobility and other aeronautics programs .the $ 70 million increase in air mobility 2019s operating profit primarily was due to the higher volume on c-130j deliveries and c-130 support programs .in other aeronautics programs , operating profit increased $ 120 million , which mainly was attributable to improved performance in sustainment activities and higher volume on p-3 programs .additionally , the increase in operating profit included the favorable restructuring of a p-3 modification contract in 2009 .combat aircraft 2019s operating profit decreased $ 22 million during the year primarily due to a reduction in the level of favorable performance adjustments on f-16 programs in 2009 compared to 2008 and lower volume on other combat aircraft programs .these decreases more than offset increased operating profit resulting from higher volume and improved performance on the f-35 program and an increase in the level of favorable performance adjustments on the f-22 program in 2009 compared to 2008 .the remaining change in operating profit is attributable to a decrease in other income , net , between the comparable periods .backlog increased in 2010 compared to 2009 mainly due to orders exceeding sales on the c-130j , f-35 and c-5 programs , which partially were offset by higher sales volume compared to new orders on the f-22 program in 2010 .backlog decreased in 2009 compared to 2008 mainly due to sales exceeding orders on the f-22 and f-35 programs , which partially were offset by orders exceeding sales on the c-130j and c-5 programs .we expect aeronautics will have sales growth in the upper single digit percentage range for 2011 as compared to 2010 .this increase primarily is driven by growth on f-35 low rate initial production ( lrip ) contracts , c-130j and c-5 rerp programs that will more than offset a decline on the f-22 program .operating profit is projected to increase at a mid single digit percentage rate above 2010 levels , resulting in a decline in operating margins between the years .similar to the relationship of operating margins from 2009 to 2010 discussed above , the expected operating margin decrease from 2010 to 2011 reflects the trend of aeronautics performing more development and initial production work on the f-35 program and is performing less work on more mature programs such as the f-22 and f-16 , even though sales are expected to increase in 2011 relative to 2010 .electronic systems our electronic systems business segment manages complex programs and designs , develops , produces , and integrates hardware and software solutions to ensure the mission readiness of armed forces and government agencies worldwide .the segment 2019s three lines of business are mission systems & sensors ( ms2 ) , missiles & fire control ( m&fc ) , and global training & logistics ( gt&l ) .with such a broad portfolio of programs to provide products and services , many of its activities involve a combination of both development and production contracts with varying delivery schedules .some of its more significant programs , including the thaad system , the aegis weapon system , and the littoral combat ship program , demonstrate the diverse products and services electronic systems provides .electronic systems 2019 operating results included the following : ( in millions ) 2010 2009 2008 .
[['( in millions )', '2010', '2009', '2008'], ['net sales', '$ 14363', '$ 13532', '$ 12803'], ['operating profit', '1712', '1660', '1583'], ['operating margin', '11.9% ( 11.9 % )', '12.3% ( 12.3 % )', '12.4% ( 12.4 % )'], ['backlog at year-end', '23200', '23100', '23500']]
net sales for electronic systems increased by 6% ( 6 % ) in 2010 compared to 2009 .sales increased in all three lines of business during the year .the $ 421 million increase at gt&l primarily was due to growth on readiness and stability operations , which partially was offset by lower volume on simulation & training programs .the $ 316 million increase at m&fc primarily was due to higher volume on tactical missile and air defense programs , which partially was offset by a decline in volume on fire control systems .the $ 94 million increase at ms2 mainly was due to higher volume on surface naval warfare , ship & aviation systems , and radar systems programs , which partially was offset by lower volume on undersea warfare programs .net sales for electronic systems increased by 6% ( 6 % ) in 2009 compared to 2008 .sales increases in m&fc and gt&l more than offset a decline in ms2 .the $ 429 million increase in sales at m&fc primarily was due to growth on tactical missile programs and fire control systems .the $ 355 million increase at gt&l primarily was due to growth on simulation and training activities and readiness and stability operations .the increase in simulation and training also included sales from the first quarter 2009 acquisition of universal systems and technology , inc .the $ 55 million decrease at ms2 mainly was due to lower volume on ship & aviation systems and undersea warfare programs , which partially were offset by higher volume on radar systems and surface naval warfare programs. .
|
what were average operating profit for electronic systems in millions from 2008 to 2010?
|
1652
|
{
"answer": "1652",
"decimal": 1652,
"type": "float"
}
| |
kimco realty corporation and subsidiaries job title kimco realty ar revision 6 serial date / time tuesday , april 03 , 2007 /10:32 pm job number 142704 type current page no .65 operator pm2 <12345678> at december 31 , 2006 and 2005 , the company 2019s net invest- ment in the leveraged lease consisted of the following ( in mil- lions ) : .
[['', '2006', '2005'], ['remaining net rentals', '$ 62.3', '$ 68.9'], ['estimated unguaranteed residual value', '40.5', '43.8'], ['non-recourse mortgage debt', '-48.4 ( 48.4 )', '-52.8 ( 52.8 )'], ['unearned and deferred income', '-50.7 ( 50.7 )', '-55.9 ( 55.9 )'], ['net investment in leveraged lease', '$ 3.7', '$ 4.0']]
9 .mortgages and other financing receivables : during january 2006 , the company provided approximately $ 16.0 million as its share of a $ 50.0 million junior participation in a $ 700.0 million first mortgage loan , in connection with a private investment firm 2019s acquisition of a retailer .this loan participation bore interest at libor plus 7.75% ( 7.75 % ) per annum and had a two-year term with a one-year extension option and was collateralized by certain real estate interests of the retailer .during june 2006 , the borrower elected to pre-pay the outstanding loan balance of approximately $ 16.0 million in full satisfaction of this loan .additionally , during january 2006 , the company provided approximately $ 5.2 million as its share of an $ 11.5 million term loan to a real estate developer for the acquisition of a 59 acre land parcel located in san antonio , tx .this loan is interest only at a fixed rate of 11.0% ( 11.0 % ) for a term of two years payable monthly and collateralized by a first mortgage on the subject property .as of december 31 , 2006 , the outstanding balance on this loan was approximately $ 5.2 million .during february 2006 , the company committed to provide a one year $ 17.2 million credit facility at a fixed rate of 8.0% ( 8.0 % ) for a term of nine months and 9.0% ( 9.0 % ) for the remaining term to a real estate investor for the recapitalization of a discount and entertain- ment mall that it currently owns .during 2006 , this facility was fully paid and was terminated .during april 2006 , the company provided two separate mortgages aggregating $ 14.5 million on a property owned by a real estate investor .proceeds were used to payoff the existing first mortgage , buyout the existing partner and for redevelopment of the property .the mortgages bear interest at 8.0% ( 8.0 % ) per annum and mature in 2008 and 2013 .these mortgages are collateralized by the subject property .as of december 31 , 2006 , the aggregate outstanding balance on these mortgages was approximately $ 15.0 million , including $ 0.5 million of accrued interest .during may 2006 , the company provided a cad $ 23.5 million collateralized credit facility at a fixed rate of 8.5% ( 8.5 % ) per annum for a term of two years to a real estate company for the execution of its property acquisitions program .the credit facility is guaranteed by the real estate company .the company was issued 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company as a loan origination fee .during august 2006 , the company increased the credit facility to cad $ 45.0 million and received an additional 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company .as of december 31 , 2006 , the outstand- ing balance on this credit facility was approximately cad $ 3.6 million ( approximately usd $ 3.1 million ) .during september 2005 , a newly formed joint venture , in which the company had an 80% ( 80 % ) interest , acquired a 90% ( 90 % ) interest in a $ 48.4 million mortgage receivable for a purchase price of approximately $ 34.2 million .this loan bore interest at a rate of three-month libor plus 2.75% ( 2.75 % ) per annum and was scheduled to mature on january 12 , 2010 .a 626-room hotel located in lake buena vista , fl collateralized the loan .the company had determined that this joint venture entity was a vie and had further determined that the company was the primary benefici- ary of this vie and had therefore consolidated it for financial reporting purposes .during march 2006 , the joint venture acquired the remaining 10% ( 10 % ) of this mortgage receivable for a purchase price of approximately $ 3.8 million .during june 2006 , the joint venture accepted a pre-payment of approximately $ 45.2 million from the borrower as full satisfaction of this loan .during august 2006 , the company provided $ 8.8 million as its share of a $ 13.2 million 12-month term loan to a retailer for general corporate purposes .this loan bears interest at a fixed rate of 12.50% ( 12.50 % ) with interest payable monthly and a balloon payment for the principal balance at maturity .the loan is collateralized by the underlying real estate of the retailer .additionally , the company funded $ 13.3 million as its share of a $ 20.0 million revolving debtor-in-possession facility to this retailer .the facility bears interest at libor plus 3.00% ( 3.00 % ) and has an unused line fee of 0.375% ( 0.375 % ) .this credit facility is collateralized by a first priority lien on all the retailer 2019s assets .as of december 31 , 2006 , the compa- ny 2019s share of the outstanding balance on this loan and credit facility was approximately $ 7.6 million and $ 4.9 million , respec- tively .during september 2006 , the company provided a mxp 57.3 million ( approximately usd $ 5.3 million ) loan to an owner of an operating property in mexico .the loan , which is collateralized by the property , bears interest at 12.0% ( 12.0 % ) per annum and matures in 2016 .the company is entitled to a participation feature of 25% ( 25 % ) of annual cash flows after debt service and 20% ( 20 % ) of the gain on sale of the property .as of december 31 , 2006 , the outstand- ing balance on this loan was approximately mxp 57.8 million ( approximately usd $ 5.3 million ) .during november 2006 , the company committed to provide a mxp 124.8 million ( approximately usd $ 11.5 million ) loan to an owner of a land parcel in acapulco , mexico .the loan , which is collateralized with an operating property owned by the bor- rower , bears interest at 10% ( 10 % ) per annum and matures in 2016 .the company is entitled to a participation feature of 20% ( 20 % ) of excess cash flows and gains on sale of the property .as of decem- ber 31 , 2006 , the outstanding balance on this loan was mxp 12.8 million ( approximately usd $ 1.2 million ) . .
|
what is the yearly interest income generated by the collateralized credit facility provided to the real estate company for the execution of its property acquisitions program , in million cad?
|
2.0
|
{
"answer": "2.0",
"decimal": 2,
"type": "float"
}
| |
notes to the consolidated financial statements related to the change in the unrealized gain ( loss ) on derivatives for the years ended december 31 , 2010 , 2009 and 2008 was $ 1 million , $ ( 16 ) million and $ 30 million , respectively .19 .employee savings plan ppg 2019s employee savings plan ( 201csavings plan 201d ) covers substantially all u.s .employees .the company makes matching contributions to the savings plan based upon participants 2019 savings , subject to certain limitations .for most participants not covered by a collective bargaining agreement , company-matching contributions are established each year at the discretion of the company and are applied to a maximum of 6% ( 6 % ) of eligible participant compensation .for those participants whose employment is covered by a collective bargaining agreement , the level of company- matching contribution , if any , is determined by the collective bargaining agreement .the company-matching contribution was 100% ( 100 % ) for 2008 and for the first two months of 2009 .the company- matching contribution was suspended from march 2009 through june 2010 as a cost savings measure in recognition of the adverse impact of the global recession .effective july 1 , 2010 , the company match was reinstated at 50% ( 50 % ) on the first 6% ( 6 % ) contributed for most employees eligible for the company-matching contribution feature .this would have included the bargained employees in accordance with their collective bargaining agreements .on january 1 , 2011 , the company match was increased to 75% ( 75 % ) on the first 6% ( 6 % ) contributed by these eligible employees .compensation expense and cash contributions related to the company match of participant contributions to the savings plan for 2010 , 2009 and 2008 totaled $ 9 million , $ 7 million and $ 42 million , respectively .a portion of the savings plan qualifies under the internal revenue code as an employee stock ownership plan .as a result , the tax deductible dividends on ppg shares held by the savings plan were $ 24 million , $ 28 million and $ 29 million for 2010 , 2009 and 2008 , respectively .20 .other earnings ( millions ) 2010 2009 2008 .
[['( millions )', '2010', '2009', '2008'], ['interest income', '$ 34', '$ 28', '$ 26'], ['royalty income', '58', '45', '52'], ['share of net earnings ( loss ) of equity affiliates ( see note 6 )', '45', '-5 ( 5 )', '3'], ['gain on sale of assets', '8', '36', '23'], ['other', '69', '74', '61'], ['total', '$ 214', '$ 178', '$ 165']]
total $ 214 $ 178 $ 165 21 .stock-based compensation the company 2019s stock-based compensation includes stock options , restricted stock units ( 201crsus 201d ) and grants of contingent shares that are earned based on achieving targeted levels of total shareholder return .all current grants of stock options , rsus and contingent shares are made under the ppg industries , inc .omnibus incentive plan ( 201cppg omnibus plan 201d ) .shares available for future grants under the ppg omnibus plan were 4.1 million as of december 31 , 2010 .total stock-based compensation cost was $ 52 million , $ 34 million and $ 33 million in 2010 , 2009 and 2008 , respectively .the total income tax benefit recognized in the accompanying consolidated statement of income related to the stock-based compensation was $ 18 million , $ 12 million and $ 12 million in 2010 , 2009 and 2008 , respectively .stock options ppg has outstanding stock option awards that have been granted under two stock option plans : the ppg industries , inc .stock plan ( 201cppg stock plan 201d ) and the ppg omnibus plan .under the ppg omnibus plan and the ppg stock plan , certain employees of the company have been granted options to purchase shares of common stock at prices equal to the fair market value of the shares on the date the options were granted .the options are generally exercisable beginning from six to 48 months after being granted and have a maximum term of 10 years .upon exercise of a stock option , shares of company stock are issued from treasury stock .the ppg stock plan includes a restored option provision for options originally granted prior to january 1 , 2003 that allows an optionee to exercise options and satisfy the option price by certifying ownership of mature shares of ppg common stock with equivalent market value .the fair value of stock options issued to employees is measured on the date of grant and is recognized as expense over the requisite service period .ppg estimates the fair value of stock options using the black-scholes option pricing model .the risk-free interest rate is determined by using the u.s .treasury yield curve at the date of the grant and using a maturity equal to the expected life of the option .the expected life of options is calculated using the average of the vesting term and the maximum term , as prescribed by accounting guidance on the use of the simplified method for determining the expected term of an employee share option .this method is used as the vesting term of stock options was changed to three years in 2004 and , as a result , the historical exercise data does not provide a reasonable basis upon which to estimate the expected life of options .the expected dividend yield and volatility are based on historical stock prices and dividend amounts over past time periods equal in length to the expected life of the options .66 2010 ppg annual report and form 10-k .
|
was interest income greater than stock-based compensation cost in 2010?
|
no
|
{
"answer": "no",
"decimal": null,
"type": "bool"
}
| |
2 .new accounting standards effective january 1 , 2003 , marathon adopted statement of financial accounting standards no .143 201caccounting for asset retirement obligations 201d ( 201csfas no .143 201d ) .this statement requires that the fair value of an asset retirement obligation be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made .the present value of the estimated asset retirement cost is capitalized as part of the carrying amount of the long-lived asset .previous accounting standards used the units-of-production method to match estimated future retirement costs with the revenues generated from the producing assets .in contrast , sfas no .143 requires depreciation of the capitalized asset retirement cost and accretion of the asset retirement obligation over time .the depreciation will generally be determined on a units-of-production basis over the life of the field , while the accretion to be recognized will escalate over the life of the producing assets , typically as production declines .for marathon , asset retirement obligations primarily relate to the abandonment of oil and gas producing facilities .while assets such as refineries , crude oil and product pipelines , and marketing assets have retirement obligations covered by sfas no .143 , certain of those obligations are not recognized since the fair value cannot be estimated due to the uncertainty of the settlement date of the obligation .the transition adjustment related to adopting sfas no .143 on january 1 , 2003 , was recognized as a cumulative effect of a change in accounting principle .the cumulative effect on net income of adopting sfas no .143 was a net favorable effect of $ 4 million , net of tax of $ 4 million .at the time of adoption , total assets increased $ 120 million , and total liabilities increased $ 116 million .the amounts recognized upon adoption are based upon numerous estimates and assumptions , including future retirement costs , future recoverable quantities of oil and gas , future inflation rates and the credit-adjusted risk-free interest rate .changes in asset retirement obligations during the year were : ( in millions ) 2003 pro forma 2002 ( a ) .
[['( in millions )', '2003', 'pro forma2002 ( a )'], ['asset retirement obligations as of january 1', '$ 339', '$ 316'], ['liabilities incurred during 2003 ( b )', '32', '2013'], ['liabilities settled during 2003 ( c )', '-42 ( 42 )', '2013'], ['accretion expense ( included in depreciation depletion and amortization )', '20', '23'], ['revisions of previous estimates', '41', '2013'], ['asset retirement obligations as of december 31', '$ 390', '$ 339']]
( a ) pro forma data as if sfas no .143 had been adopted on january 1 , 2002 .if adopted , income before cumulative effect of changes in accounting principles for 2002 would have been increased by $ 1 million and there would have been no impact on earnings per share .( b ) includes $ 12 million related to the acquisition of khanty mansiysk oil corporation in 2003 .( c ) includes $ 25 million associated with assets sold in 2003 .in the second quarter of 2002 , the financial accounting standards board ( 201cfasb 201d ) issued statement of financial accounting standards no .145 201crescission of fasb statements no .4 , 44 , and 64 , amendment of fasb statement no .13 , and technical corrections 201d ( 201csfas no .145 201d ) .effective january 1 , 2003 , marathon adopted the provisions relating to the classification of the effects of early extinguishment of debt in the consolidated statement of income .as a result , losses of $ 53 million from the early extinguishment of debt in 2002 , which were previously reported as an extraordinary item ( net of tax of $ 20 million ) , have been reclassified into income before income taxes .the adoption of sfas no .145 had no impact on net income for 2002 .effective january 1 , 2003 , marathon adopted statement of financial accounting standards no .146 201caccounting for exit or disposal activities 201d ( 201csfas no .146 201d ) .sfas no .146 is effective for exit or disposal activities that are initiated after december 31 , 2002 .there were no impacts upon the initial adoption of sfas no .146 .effective january 1 , 2003 , marathon adopted the fair value recognition provisions of statement of financial accounting standards no .123 201caccounting for stock-based compensation 201d ( 201csfas no .123 201d ) .statement of financial accounting standards no .148 201caccounting for stock-based compensation 2013 transition and disclosure 201d ( 201csfas no .148 201d ) , an amendment of sfas no .123 , provides alternative methods for the transition of the accounting for stock-based compensation from the intrinsic value method to the fair value method .marathon has applied the fair value method to grants made , modified or settled on or after january 1 , 2003 .the impact on marathon 2019s 2003 net income was not materially different than under previous accounting standards .the fasb issued statement of financial accounting standards no .149 201camendment of statement 133 on derivative instruments and hedging activities 201d on april 30 , 2003 .the statement is effective for derivative contracts entered into or modified after june 30 , 2003 and for hedging relationships designated after june 30 , 2003 .the adoption of this statement did not have an effect on marathon 2019s financial position , cash flows or results of operations .the fasb issued statement of financial accounting standards no .150 201caccounting for certain financial instruments with characteristics of both liabilities and equity 201d on may 30 , 2003 .the adoption of this statement , effective july 1 , 2003 , did not have a material effect on marathon 2019s financial position or results of operations .effective january 1 , 2003 , fasb interpretation no .45 , 201cguarantor 2019s accounting and disclosure requirements for guarantees , including indirect guarantees of indebtedness of others 201d ( 201cfin 45 201d ) , requires the fair-value .
|
what are total asset retirement obligations as of december 31 2002 and 2003 , in millions?
|
729
|
{
"answer": "729",
"decimal": 729,
"type": "float"
}
| |
2 0 0 8 a n n u a l r e p o r t stock performance graph the following graph sets forth the performance of our series a common , series b common stock , and series c common stock for the period september 18 , 2008 through december 31 , 2008 as compared with the performance of the standard and poor 2019s 500 index and a peer group index which consists of the walt disney company , time warner inc. , cbs corporation class b common stock , viacom , inc .class b common stock , news corporation class a common stock , and scripps network interactive , inc .the graph assumes $ 100 originally invested on september 18 , 2006 and that all subsequent dividends were reinvested in additional shares .september 18 , september 30 , december 31 , 2008 2008 2008 .
[['', 'september 18 2008', 'september 30 2008', 'december 31 2008'], ['disca', '$ 100.00', '$ 103.19', '$ 102.53'], ['discb', '$ 100.00', '$ 105.54', '$ 78.53'], ['disck', '$ 100.00', '$ 88.50', '$ 83.69'], ['s&p 500', '$ 100.00', '$ 96.54', '$ 74.86'], ['peer group', '$ 100.00', '$ 92.67', '$ 68.79']]
s&p 500 peer group .
|
was the c series 2008 annual return greater than the s&p 500?
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
part ii on november 1 , 2011 , we entered into a committed credit facility agreement with a syndicate of banks which provides for up to $ 1 billion of borrowings with the option to increase borrowings to $ 1.5 billion with lender approval .following an extension agreement on september 17 , 2013 between the company and the syndicate of banks , the facility matures november 1 , 2017 , with a one-year extension option exercisable through october 31 , 2014 .no amounts were outstanding under this facility as of may 31 , 2014 or 2013 .we currently have long-term debt ratings of aa- and a1 from standard and poor 2019s corporation and moody 2019s investor services , respectively .if our long- term debt rating were to decline , the facility fee and interest rate under our committed credit facility would increase .conversely , if our long-term debt rating were to improve , the facility fee and interest rate would decrease .changes in our long-term debt rating would not trigger acceleration of maturity of any then-outstanding borrowings or any future borrowings under the committed credit facility .under this committed revolving credit facility , we have agreed to various covenants .these covenants include limits on our disposal of fixed assets , the amount of debt secured by liens we may incur , as well as a minimum capitalization ratio .in the event we were to have any borrowings outstanding under this facility and failed to meet any covenant , and were unable to obtain a waiver from a majority of the banks in the syndicate , any borrowings would become immediately due and payable .as of may 31 , 2014 , we were in full compliance with each of these covenants and believe it is unlikely we will fail to meet any of these covenants in the foreseeable future .liquidity is also provided by our $ 1 billion commercial paper program .during the year ended may 31 , 2014 , we did not issue commercial paper , and as of may 31 , 2014 , there were no outstanding borrowings under this program .we may continue to issue commercial paper or other debt securities during fiscal 2015 depending on general corporate needs .we currently have short-term debt ratings of a1+ and p1 from standard and poor 2019s corporation and moody 2019s investor services , respectively .as of may 31 , 2014 , we had cash , cash equivalents , and short-term investments totaling $ 5.1 billion , of which $ 2.5 billion was held by our foreign subsidiaries .cash equivalents and short-term investments consist primarily of deposits held at major banks , money market funds , commercial paper , corporate notes , u.s .treasury obligations , u.s .government sponsored enterprise obligations , and other investment grade fixed income securities .our fixed income investments are exposed to both credit and interest rate risk .all of our investments are investment grade to minimize our credit risk .while individual securities have varying durations , as of may 31 , 2014 the average duration of our short-term investments and cash equivalents portfolio was 126 days .to date we have not experienced difficulty accessing the credit markets or incurred higher interest costs .future volatility in the capital markets , however , may increase costs associated with issuing commercial paper or other debt instruments or affect our ability to access those markets .we believe that existing cash , cash equivalents , short-term investments , and cash generated by operations , together with access to external sources of funds as described above , will be sufficient to meet our domestic and foreign capital needs in the foreseeable future .we utilize a variety of tax planning and financing strategies to manage our worldwide cash and deploy funds to locations where they are needed .we routinely repatriate a portion of our foreign earnings for which u.s .taxes have previously been provided .we also indefinitely reinvest a significant portion of our foreign earnings , and our current plans do not demonstrate a need to repatriate these earnings .should we require additional capital in the united states , we may elect to repatriate indefinitely reinvested foreign funds or raise capital in the united states through debt .if we were to repatriate indefinitely reinvested foreign funds , we would be required to accrue and pay additional u.s .taxes less applicable foreign tax credits .if we elect to raise capital in the united states through debt , we would incur additional interest expense .off-balance sheet arrangements in connection with various contracts and agreements , we routinely provide indemnification relating to the enforceability of intellectual property rights , coverage for legal issues that arise and other items where we are acting as the guarantor .currently , we have several such agreements in place .however , based on our historical experience and the estimated probability of future loss , we have determined that the fair value of such indemnification is not material to our financial position or results of operations .contractual obligations our significant long-term contractual obligations as of may 31 , 2014 and significant endorsement contracts entered into through the date of this report are as follows: .
[['description of commitment ( in millions )', 'description of commitment 2015', 'description of commitment 2016', 'description of commitment 2017', 'description of commitment 2018', 'description of commitment 2019', 'description of commitment thereafter', 'total'], ['operating leases', '$ 427', '$ 399', '$ 366', '$ 311', '$ 251', '$ 1050', '$ 2804'], ['capital leases', '36', '35', '1', '1', '1', '2014', '74'], ['long-term debt ( 1 )', '46', '145', '79', '56', '37', '1488', '1851'], ['endorsement contracts ( 2 )', '991', '787', '672', '524', '349', '1381', '4704'], ['product purchase obligations ( 3 )', '3688', '2014', '2014', '2014', '2014', '2014', '3688'], ['other ( 4 )', '309', '108', '78', '7', '3', '12', '517'], ['total', '$ 5497', '$ 1474', '$ 1196', '$ 899', '$ 641', '$ 3931', '$ 13638']]
( 1 ) the cash payments due for long-term debt include estimated interest payments .estimates of interest payments are based on outstanding principal amounts , applicable fixed interest rates or currently effective interest rates as of may 31 , 2014 ( if variable ) , timing of scheduled payments , and the term of the debt obligations .( 2 ) the amounts listed for endorsement contracts represent approximate amounts of base compensation and minimum guaranteed royalty fees we are obligated to pay athlete and sport team endorsers of our products .actual payments under some contracts may be higher than the amounts listed as these contracts provide for bonuses to be paid to the endorsers based upon athletic achievements and/or royalties on product sales in future periods .actual payments under some contracts may also be lower as these contracts include provisions for reduced payments if athletic performance declines in future periods .in addition to the cash payments , we are obligated to furnish our endorsers with nike product for their use .it is not possible to determine how much we will spend on this product on an annual basis as the contracts generally do not stipulate a specific amount of cash to be spent on the product .the amount of product provided to the endorsers will depend on many factors , including general playing conditions , the number of sporting events in which they participate , and our own decisions regarding product and marketing initiatives .in addition , the costs to design , develop , source , and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers .( 3 ) we generally order product at least four to five months in advance of sale based primarily on futures orders received from customers .the amounts listed for product purchase obligations represent agreements ( including open purchase orders ) to purchase products in the ordinary course of business that are enforceable and legally binding and that specify all significant terms .in some cases , prices are subject to change throughout the production process .the reported amounts exclude product purchase liabilities included in accounts payable on the consolidated balance sheet as of may 31 , 2014 .( 4 ) other amounts primarily include service and marketing commitments made in the ordinary course of business .the amounts represent the minimum payments required by legally binding contracts and agreements that specify all significant terms , including open purchase orders for non-product purchases .the reported amounts exclude those liabilities included in accounts payable or accrued liabilities on the consolidated balance sheet as of may 31 , 2014 .nike , inc .2014 annual report and notice of annual meeting 79 .
|
what percent of the total for all years was made up from contributions in 2017?
|
8%
|
{
"answer": "8%",
"decimal": 0.08,
"type": "percentage"
}
| |
108 / sl green realty corp .2017 annual report espp provides for eligible employees to purchase the common stock at a purchase price equal to 85% ( 85 % ) of the lesser of ( 1 ) a0the market value of the common stock on the first day of the offer- ing period or ( 2 ) a0the market value of the common stock on the last day of the offering period .the espp was approved by our stockholders at our 2008 annual meeting of stockholders .as of december a031 , 2017 , 104597 a0shares of our common stock had been issued under the espp .available for issuance , subject to adjustment upon a merger , reorganization , stock split or other similar corporate change .the company filed a registration statement on form a0s-8 with the sec with respect to the espp .the common stock is offered for purchase through a series of successive offering periods .each offering period will be three months in duration and will begin on the first day of each calendar quarter , with the first a0offering period having commenced on january a01 , 2008 .the 15 .accumulated other comprehensive income the following tables set forth the changes in accumulated other comprehensive income ( loss ) by component as of december a031 , 2017 , 2016 and 2015 ( in thousands ) : sl a0green 2019s share net unrealized of joint venture net unrealized gain on net unrealized gain on derivative gain on derivative marketable instruments ( 1 ) instruments ( 2 ) securities total .
[['', 'net unrealized gain on derivative instruments ( 1 )', 'sl green 2019s share of joint venture net unrealized gain on derivative instruments ( 2 )', 'net unrealized gain on marketable securities', 'total'], ['balance at december 31 2014', '$ -9498 ( 9498 )', '$ -95 ( 95 )', '$ 2613', '$ -6980 ( 6980 )'], ['other comprehensive loss before reclassifications', '-11143 ( 11143 )', '-1714 ( 1714 )', '-610 ( 610 )', '-13467 ( 13467 )'], ['amounts reclassified from accumulated other comprehensive income', '10481', '1217', '2014', '11698'], ['balance at december 31 2015', '-10160 ( 10160 )', '-592 ( 592 )', '2003', '-8749 ( 8749 )'], ['other comprehensive income before reclassifications', '13534', '1160', '3517', '18211'], ['amounts reclassified from accumulated other comprehensive income', '9222', '3453', '2014', '12675'], ['balance at december 31 2016', '12596', '4021', '5520', '22137'], ['other comprehensive ( loss ) income before reclassifications', '-1618 ( 1618 )', '233', '-1348 ( 1348 )', '-2733 ( 2733 )'], ['amounts reclassified from accumulated other comprehensive income', '1564', '766', '-3130 ( 3130 )', '-800 ( 800 )'], ['balance at december 31 2017', '$ 12542', '$ 5020', '$ 1042', '$ 18604']]
( 1 ) amount reclassified from accumulated other comprehensive income ( loss ) is included in interest expense in the respective consolidated statements of operations .as of december a031 , 2017 and 2016 , the deferred net losses from these terminated hedges , which is included in accumulated other comprehensive loss relating to net unrealized loss on derivative instrument , was $ 3.2 a0million and $ 7.1 a0million , respectively .( 2 ) amount reclassified from accumulated other comprehensive income ( loss ) is included in equity in net income from unconsolidated joint ventures in the respective consolidated statements of operations .16 .fair value measurements we are required to disclose fair value information with regard to our financial instruments , whether or not recognized in the consolidated balance sheets , for which it is practical to estimate fair value .the fasb guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date .we measure and/or disclose the estimated fair value of financial assets and liabilities based on a hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity and the reporting entity 2019s own assumptions about market participant assumptions .this hierarchy consists of three broad levels : level a01 2014 quoted prices ( unadjusted ) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date ; level a02 2014 inputs other than quoted prices included within level a01 , that are observable for the asset or liability , either directly or indirectly ; and level a03 2014 unobservable inputs for the asset or liability that are used when little or no market data is available .we follow this hierarchy for our assets and liabilities measured at fair value on a recurring and nonrecurring basis .in instances in which the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy , the level in the fair value hierarchy within which the entire fair value measure- ment falls is based on the lowest level of input that is significant to the fair value measurement in its entirety .our assessment of the significance of the particular input to the fair value mea- surement in its entirety requires judgment and considers factors specific to the asset or liability. .
|
what was the net three year change in the aoci balance for all derivatives and marketable securities?
|
25584
|
{
"answer": "25584",
"decimal": 25584,
"type": "float"
}
| |
citigroup 2019s repurchases are primarily from government sponsored entities .the specific representations and warranties made by the company depend on the nature of the transaction and the requirements of the buyer .market conditions and credit-ratings agency requirements may also affect representations and warranties and the other provisions the company may agree to in loan sales .in the event of a breach of the representations and warranties , the company may be required to either repurchase the mortgage loans ( generally at unpaid principal balance plus accrued interest ) with the identified defects or indemnify ( 201cmake-whole 201d ) the investor or insurer .the company has recorded a repurchase reserve that is included in other liabilities in the consolidated balance sheet .in the case of a repurchase , the company will bear any subsequent credit loss on the mortgage loans .the company 2019s representations and warranties are generally not subject to stated limits in amount or time of coverage .however , contractual liability arises only when the representations and warranties are breached and generally only when a loss results from the breach .in the case of a repurchase , the loan is typically considered a credit- impaired loan and accounted for under sop 03-3 , 201caccounting for certain loans and debt securities , acquired in a transfer 201d ( now incorporated into asc 310-30 , receivables 2014loans and debt securities acquired with deteriorated credit quality ) .these repurchases have not had a material impact on nonperforming loan statistics , because credit-impaired purchased sop 03-3 loans are not included in nonaccrual loans .the company estimates its exposure to losses from its obligation to repurchase previously sold loans based on the probability of repurchase or make-whole and an estimated loss given repurchase or make-whole .this estimate is calculated separately by sales vintage ( i.e. , the year the loans were sold ) based on a combination of historical trends and forecasted repurchases and losses considering the : ( 1 ) trends in requests by investors for loan documentation packages to be reviewed ; ( 2 ) trends in recent repurchases and make-wholes ; ( 3 ) historical percentage of claims made as a percentage of loan documentation package requests ; ( 4 ) success rate in appealing claims ; ( 5 ) inventory of unresolved claims ; and ( 6 ) estimated loss given repurchase or make-whole , including the loss of principal , accrued interest , and foreclosure costs .the company does not change its estimation methodology by counterparty , but the historical experience and trends are considered when evaluating the overall reserve .the request for loan documentation packages is an early indicator of a potential claim .during 2009 , loan documentation package requests and the level of outstanding claims increased .in addition , our loss severity estimates increased during 2009 due to the impact of macroeconomic factors and recent experience .these factors contributed to a $ 493 million change in estimate for this reserve in 2009 .as indicated above , the repurchase reserve is calculated by sales vintage .the majority of the repurchases in 2009 were from the 2006 and 2007 sales vintages , which also represent the vintages with the largest loss- given-repurchase .an insignificant percentage of 2009 repurchases were from vintages prior to 2006 , and this is expected to decrease , because those vintages are later in the credit cycle .although early in the credit cycle , the company has experienced improved repurchase and loss-given-repurchase statistics from the 2008 and 2009 vintages .in the case of a repurchase of a credit-impaired sop 03-3 loan ( now incorporated into asc 310-30 ) , the difference between the loan 2019s fair value and unpaid principal balance at the time of the repurchase is recorded as a utilization of the repurchase reserve .payments to make the investor whole are also treated as utilizations and charged directly against the reserve .the provision for estimated probable losses arising from loan sales is recorded as an adjustment to the gain on sale , which is included in other revenue in the consolidated statement of income .a liability for representations and warranties is estimated when the company sells loans and is updated quarterly .any subsequent adjustment to the provision is recorded in other revenue in the consolidated statement of income .the activity in the repurchase reserve for the years ended december 31 , 2009 and 2008 is as follows: .
[['in millions of dollars', '2009', '2008'], ['balance beginning of the year', '$ 75', '$ 2'], ['additions for new sales', '33', '23'], ['change in estimate', '493', '59'], ['utilizations', '-119 ( 119 )', '-9 ( 9 )'], ['balance end of the year', '$ 482', '$ 75']]
goodwill goodwill represents an acquired company 2019s acquisition cost over the fair value of net tangible and intangible assets acquired .goodwill is subject to annual impairment tests , whereby goodwill is allocated to the company 2019s reporting units and an impairment is deemed to exist if the carrying value of a reporting unit exceeds its estimated fair value .furthermore , on any business dispositions , goodwill is allocated to the business disposed of based on the ratio of the fair value of the business disposed of to the fair value of the reporting unit .intangible assets intangible assets 2014including core deposit intangibles , present value of future profits , purchased credit card relationships , other customer relationships , and other intangible assets , but excluding msrs 2014are amortized over their estimated useful lives .intangible assets deemed to have indefinite useful lives , primarily certain asset management contracts and trade names , are not amortized and are subject to annual impairment tests .an impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value .for other intangible assets subject to amortization , an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the intangible asset .other assets and other liabilities other assets include , among other items , loans held-for-sale , deferred tax assets , equity-method investments , interest and fees receivable , premises and equipment , end-user derivatives in a net receivable position , repossessed assets , and other receivables. .
|
what was the ratio of the change in estimate for 2009 to 2008
|
8.35
|
{
"answer": "8.35",
"decimal": 8.35,
"type": "float"
}
|
the ratio of the the change in estimate reserve was $ 8.35 to $ 1 for 2009 compared to 2008
|
entergy corporation and subsidiaries management 2019s financial discussion and analysis net revenue utility following is an analysis of the change in net revenue comparing 2014 to 2013 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2013 net revenue', '$ 5524'], ['retail electric price', '135'], ['asset retirement obligation', '56'], ['volume/weather', '36'], ['miso deferral', '16'], ['net wholesale revenue', '-29 ( 29 )'], ['other', '-3 ( 3 )'], ['2014 net revenue', '$ 5735']]
the retail electric price variance is primarily due to : 2022 increases in the energy efficiency rider at entergy arkansas , as approved by the apsc , effective july 2013 and july 2014 .energy efficiency revenues are offset by costs included in other operation and maintenance expenses and have minimal effect on net income ; 2022 the effect of the apsc 2019s order in entergy arkansas 2019s 2013 rate case , including an annual base rate increase effective january 2014 offset by a miso rider to provide customers credits in rates for transmission revenue received through miso ; 2022 a formula rate plan increase at entergy mississippi , as approved by the mspc , effective september 2013 ; 2022 an increase in entergy mississippi 2019s storm damage rider , as approved by the mpsc , effective october 2013 .the increase in the storm damage rider is offset by other operation and maintenance expenses and has no effect on net income ; 2022 an annual base rate increase at entergy texas , effective april 2014 , as a result of the puct 2019s order in the september 2013 rate case ; and 2022 a formula rate plan increase at entergy louisiana , as approved by the lpsc , effective december 2014 .see note 2 to the financial statements for a discussion of rate proceedings .the asset retirement obligation affects net revenue because entergy records a regulatory debit or credit for the difference between asset retirement obligation-related expenses and trust earnings plus asset retirement obligation- related costs collected in revenue .the variance is primarily caused by increases in regulatory credits because of decreases in decommissioning trust earnings and increases in depreciation and accretion expenses and increases in regulatory credits to realign the asset retirement obligation regulatory assets with regulatory treatment .the volume/weather variance is primarily due to an increase of 3129 gwh , or 3% ( 3 % ) , in billed electricity usage primarily due to an increase in sales to industrial customers and the effect of more favorable weather on residential sales .the increase in industrial sales was primarily due to expansions , recovery of a major refining customer from an unplanned outage in 2013 , and continued moderate growth in the manufacturing sector .the miso deferral variance is primarily due to the deferral in 2014 of the non-fuel miso-related charges , as approved by the lpsc and the mpsc , partially offset by the deferral in april 2013 , as approved by the apsc , of costs incurred from march 2010 through december 2012 related to the transition and implementation of joining the miso .
|
what was the percent of the change in the net revenue from 2013 to 2014
|
3.8%
|
{
"answer": "3.8%",
"decimal": 0.038,
"type": "percentage"
}
| |
marathon oil corporation notes to consolidated financial statements restricted stock awards the following is a summary of restricted stock award activity .awards weighted-average grant date fair value .
[['', 'awards', 'weighted-averagegrant datefair value'], ['unvested at december 31 2008', '2049255', '$ 47.72'], ['granted', '251335', '24.74'], ['vested', '-762466 ( 762466 )', '46.03'], ['forfeited', '-96625 ( 96625 )', '43.56'], ['unvested at december 31 2009', '1441499', '44.89']]
the vesting date fair value of restricted stock awards which vested during 2009 , 2008 and 2007 was $ 24 million , $ 38 million and $ 29 million .the weighted average grant date fair value of restricted stock awards was $ 44.89 , $ 47.72 , and $ 39.87 for awards unvested at december 31 , 2009 , 2008 and 2007 .as of december 31 , 2009 , there was $ 43 million of unrecognized compensation cost related to restricted stock awards which is expected to be recognized over a weighted average period of 1.6 years .stock-based performance awards all stock-based performance awards have either vested or been forfeited .the vesting date fair value of stock- based performance awards which vested during 2007 was $ 38 .24 .stockholders 2019 equity in each year , 2009 and 2008 , we issued 2 million in common stock upon the redemption of the exchangeable shares described below in addition to treasury shares issued for employee stock-based awards .the board of directors has authorized the repurchase of up to $ 5 billion of marathon common stock .purchases under the program may be in either open market transactions , including block purchases , or in privately negotiated transactions .we will use cash on hand , cash generated from operations , proceeds from potential asset sales or cash from available borrowings to acquire shares .this program may be changed based upon our financial condition or changes in market conditions and is subject to termination prior to completion .the repurchase program does not include specific price targets or timetables .as of december 31 , 2009 , we have acquired 66 million common shares at a cost of $ 2922 million under the program .no shares have been acquired since august 2008 .securities exchangeable into marathon common stock 2013 as discussed in note 6 , we acquired all of the outstanding shares of western on october 18 , 2007 .the western shareholders who were canadian residents received , at their election , cash , marathon common stock , securities exchangeable into marathon common stock ( the 201cexchangeable shares 201d ) or a combination thereof .the western shareholders elected to receive 5 million exchangeable shares as part of the acquisition consideration .the exchangeable shares are shares of an indirect canadian subsidiary of marathon and , at the acquisition date , were exchangeable on a one-for-one basis into marathon common stock .subsequent to the acquisition , the exchange ratio is adjusted to reflect cash dividends , if any , paid on marathon common stock and cash dividends , if any , paid on the exchangeable shares .the exchange ratio at december 31 , 2009 , was 1.06109 common shares for each exchangeable share .the exchangeable shares are exchangeable at the option of the holder at any time and are automatically redeemable on october 18 , 2011 .holders of exchangeable shares are entitled to instruct a trustee to vote ( or obtain a proxy from the trustee to vote directly ) on all matters submitted to the holders of marathon common stock .the number of votes to which each holder is entitled is equal to the whole number of shares of marathon common stock into which such holder 2019s exchangeable shares would be exchangeable based on the exchange ratio in effect on the record date for the vote .the voting right is attached to voting preferred shares of marathon that were issued to a trustee in an amount .
|
based on the weighted average grant date fair value listed above , what was the value of unvested restricted stock awards at december 31 , 2009?
|
$ 64708890.11
|
{
"answer": "$ 64708890.11",
"decimal": 64708890.11,
"type": "money"
}
| |
management 2019s discussion and analysis 118 jpmorgan chase & co./2018 form 10-k equivalent to the risk of loan exposures .dre is a less extreme measure of potential credit loss than peak and is used as an input 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 over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit risk capital and the cva , as further described below .the fair value of the firm 2019s derivative receivables incorporates cva to reflect the credit quality of counterparties .cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market .the firm believes that active risk management is essential to controlling the dynamic credit risk in the derivatives portfolio .in addition , the firm 2019s risk management process takes into consideration the potential 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 contracts , as well as interest rate , foreign exchange , equity and commodity derivative contracts .the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the peak , dre and avg metrics .the three measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio .exposure profile of derivatives measures december 31 , 2018 ( in billions ) the following table summarizes the ratings profile of the firm 2019s derivative receivables , including credit derivatives , net of all collateral , at the dates indicated .the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as assigned by s&p and moody 2019s .ratings profile of derivative receivables .
[['rating equivalent december 31 ( in millions except ratios )', 'rating equivalent exposure net of all collateral', 'rating equivalent % ( % ) of exposure netof all collateral', 'exposure net of all collateral', '% ( % ) of exposure netof all collateral'], ['aaa/aaa to aa-/aa3', '$ 11831', '31% ( 31 % )', '$ 11529', '29% ( 29 % )'], ['a+/a1 to a-/a3', '7428', '19', '6919', '17'], ['bbb+/baa1 to bbb-/baa3', '12536', '32', '13925', '34'], ['bb+/ba1 to b-/b3', '6373', '16', '7397', '18'], ['ccc+/caa1 and below', '723', '2', '645', '2'], ['total', '$ 38891', '100% ( 100 % )', '$ 40415', '100% ( 100 % )']]
as previously noted , the firm uses collateral agreements to mitigate counterparty credit risk .the percentage of the firm 2019s over-the-counter derivative transactions subject to collateral agreements 2014 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity and centrally cleared trades that are settled daily 2014 was approximately 90% ( 90 % ) at both december 31 , 2018 , and december 31 , 2017. .
|
what percentage of the 2017 derivative receivable ratings were ratings equivalent to junk bonds?
|
20
|
{
"answer": "20",
"decimal": 20,
"type": "float"
}
| |
at december 31 , 2009 , aon had domestic federal operating loss carryforwards of $ 7 million that will expire at various dates from 2010 to 2024 , state operating loss carryforwards of $ 513 million that will expire at various dates from 2010 to 2028 , and foreign operating and capital loss carryforwards of $ 453 million and $ 252 million , respectively , nearly all of which are subject to indefinite carryforward .unrecognized tax benefits the following is a reconciliation of the company 2019s beginning and ending amount of unrecognized tax benefits ( in millions ) : .
[['', '2009', '2008'], ['balance at january 1', '$ 86', '$ 70'], ['additions based on tax positions related to the current year', '2', '5'], ['additions for tax positions of prior years', '5', '12'], ['reductions for tax positions of prior years', '-11 ( 11 )', '-11 ( 11 )'], ['settlements', '-10 ( 10 )', '-4 ( 4 )'], ['lapse of statute of limitations', '-3 ( 3 )', '-1 ( 1 )'], ['acquisitions', '6', '21'], ['foreign currency translation', '2', '-6 ( 6 )'], ['balance at december 31', '$ 77', '$ 86']]
as of december 31 , 2009 , $ 61 million of unrecognized tax benefits would impact the effective tax rate if recognized .aon does not expect the unrecognized tax positions to change significantly over the next twelve months .the company recognizes penalties and interest related to unrecognized income tax benefits in its provision for income taxes .aon accrued potential penalties of less than $ 1 million during each of 2009 , 2008 and 2007 .aon accrued interest of $ 2 million during 2009 and less than $ 1 million during both 2008 and 2007 .as of december 31 , 2009 and 2008 , aon has recorded a liability for penalties of $ 5 million and $ 4 million , respectively , and for interest of $ 18 million and $ 14 million , respectively .aon and its subsidiaries file income tax returns in the u.s .federal jurisdiction as well as various state and international jurisdictions .aon has substantially concluded all u.s .federal income tax matters for years through 2006 .material u.s .state and local income tax jurisdiction examinations have been concluded for years through 2002 .aon has concluded income tax examinations in its primary international jurisdictions through 2002. .
|
what was the percent of the change in the unrecognized tax benefits from 2008 to 2009
|
-10.5%
|
{
"answer": "-10.5%",
"decimal": -0.105,
"type": "percentage"
}
| |
notes to consolidated financial statements jpmorgan chase & co .150 jpmorgan chase & co ./ 2007 annual report expected loss modeling in 2006 , the firm restructured four multi-seller conduits that it administers .the restructurings included enhancing the firm 2019s expected loss model .in determining the primary beneficiary of the conduits it administers , the firm uses a monte carlo 2013based model to estimate the expected losses of each of the conduits and considers the rela- tive rights and obligations of each of the variable interest holders .the variability to be considered in the modeling of expected losses is based on the design of the entity .the firm 2019s traditional multi-seller conduits are designed to pass credit risk , not liquidity risk , to its vari- able interest holders , as the assets are intended to be held in the conduit for the longer term .under fin 46r , the firm is required to run the monte carlo-based expected loss model each time a reconsideration event occurs .in applying this guidance to the conduits , the following events are considered to be reconsideration events as they could affect the determination of the primary beneficiary of the conduits : 2022 new deals , including the issuance of new or additional variable interests ( credit support , liquidity facilities , etc ) ; 2022 changes in usage , including the change in the level of outstand- ing variable interests ( credit support , liquidity facilities , etc ) ; 2022 modifications of asset purchase agreements ; and 2022 sales of interests held by the primary beneficiary .from an operational perspective , the firm does not run its monte carlo-based expected loss model every time there is a reconsidera- tion event due to the frequency of their occurrence .instead , the firm runs its expected loss model each quarter and includes a growth assumption for each conduit to ensure that a sufficient amount of elns exists for each conduit at any point during the quarter .as part of its normal quarterly model review , the firm reassesses the underlying assumptions and inputs of the expected loss model .during the second half of 2007 , certain assumptions used in the model were adjusted to reflect the then current market conditions .specifically , risk ratings and loss given default assumptions relating to residential subprime mortgage exposures were modified .for other nonmortgage-related asset classes , the firm determined that the assumptions in the model required little adjustment .as a result of the updates to the model , during the fourth quarter of 2007 the terms of the elns were renegotiated to increase the level of commit- ment and funded amounts to be provided by the eln holders .the total amount of expected loss notes outstanding at december 31 , 2007 and 2006 , were $ 130 million and $ 54 million , respectively .management concluded that the model assumptions used were reflective of market participant 2019s assumptions and appropriately considered the probability of a recurrence of recent market events .qualitative considerations the multi-seller conduits are primarily designed to provide an efficient means for clients to access the commercial paper market .the firm believes the conduits effectively disperse risk among all parties and that the preponderance of economic risk in the firm 2019s multi-seller conduits is not held by jpmorgan chase .the percentage of assets in the multi-seller conduits that the firm views as client-related represent 99% ( 99 % ) and 98% ( 98 % ) of the total conduits 2019 holdings at december 31 , 2007 and 2006 , respectively .consolidated sensitivity analysis on capital it is possible that the firm could be required to consolidate a vie if it were determined that the firm became the primary beneficiary of the vie under the provisions of fin 46r .the factors involved in making the determination of whether or not a vie should be consolidated are dis- cussed above and in note 1 on page 108 of this annual report .the table below shows the impact on the firm 2019s reported assets , liabilities , net income , tier 1 capital ratio and tier 1 leverage ratio if the firm were required to consolidate all of the multi-seller conduits that it administers .as of or for the year ending december 31 , 2007 .
[['( in billions except ratios )', 'reported', 'pro forma'], ['assets', '$ 1562.1', '$ 1623.9'], ['liabilities', '1438.9', '1500.9'], ['net income', '15.4', '15.2'], ['tier 1 capital ratio', '8.4% ( 8.4 % )', '8.4% ( 8.4 % )'], ['tier 1 leverage ratio', '6.0', '5.8']]
the firm could fund purchases of assets from vies should it become necessary .investor intermediation as a financial intermediary , the firm creates certain types of vies and also structures transactions , typically derivative structures , with these vies to meet investor needs .the firm may also provide liquidity and other support .the risks inherent in the derivative instruments or liq- uidity commitments are managed similarly to other credit , market or liquidity risks to which the firm is exposed .the principal types of vies for which the firm is engaged in these structuring activities are municipal bond vehicles , credit-linked note vehicles and collateralized debt obligation vehicles .municipal bond vehicles the firm has created a series of secondary market trusts that provide short-term investors with qualifying tax-exempt investments , and that allow investors in tax-exempt securities to finance their investments at short-term tax-exempt rates .in a typical transaction , the vehicle pur- chases fixed-rate longer-term highly rated municipal bonds and funds the purchase by issuing two types of securities : ( 1 ) putable floating- rate certificates and ( 2 ) inverse floating-rate residual interests ( 201cresid- ual interests 201d ) .the maturity of each of the putable floating-rate certifi- cates and the residual interests is equal to the life of the vehicle , while the maturity of the underlying municipal bonds is longer .holders of the putable floating-rate certificates may 201cput 201d , or tender , the certifi- cates if the remarketing agent cannot successfully remarket the float- ing-rate certificates to another investor .a liquidity facility conditionally obligates the liquidity provider to fund the purchase of the tendered floating-rate certificates .upon termination of the vehicle , if the pro- ceeds from the sale of the underlying municipal bonds are not suffi- cient to repay the liquidity facility , the liquidity provider has recourse either to excess collateralization in the vehicle or the residual interest holders for reimbursement .the third-party holders of the residual interests in these vehicles could experience losses if the face amount of the putable floating-rate cer- tificates exceeds the market value of the municipal bonds upon termi- nation of the vehicle .certain vehicles require a smaller initial invest- ment by the residual interest holders and thus do not result in excess collateralization .for these vehicles there exists a reimbursement obli- .
|
in billions , what is the pro-forma shareholders equity?
|
123
|
{
"answer": "123",
"decimal": 123,
"type": "float"
}
|
assets minus liabilities= se
|
item 5 .market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following graph compares annual total return of our common stock , the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) and our peer group ( 201cloews peer group 201d ) for the five years ended december 31 , 2016 .the graph assumes that the value of the investment in our common stock , the s&p 500 index and the loews peer group was $ 100 on december 31 , 2011 and that all dividends were reinvested. .
[['', '2011', '2012', '2013', '2014', '2015', '2016'], ['loews common stock', '100.0', '108.91', '129.64', '113.59', '104.47', '128.19'], ['s&p 500 index', '100.0', '116.00', '153.57', '174.60', '177.01', '198.18'], ['loews peer group ( a )', '100.0', '113.39', '142.85', '150.44', '142.44', '165.34']]
( a ) the loews peer group consists of the following companies that are industry competitors of our principal operating subsidiaries : chubb limited ( name change from ace limited after it acquired the chubb corporation on january 15 , 2016 ) , w.r .berkley corporation , the chubb corporation ( included through january 15 , 2016 when it was acquired by ace limited ) , energy transfer partners l.p. , ensco plc , the hartford financial services group , inc. , kinder morgan energy partners , l.p .( included through november 26 , 2014 when it was acquired by kinder morgan inc. ) , noble corporation , spectra energy corp , transocean ltd .and the travelers companies , inc .dividend information we have paid quarterly cash dividends in each year since 1967 .regular dividends of $ 0.0625 per share of loews common stock were paid in each calendar quarter of 2016 and 2015. .
|
what was the growth rate of the s&p 500 index from 2011 to 2016
|
98.2%
|
{
"answer": "98.2%",
"decimal": 0.982,
"type": "percentage"
}
|
to find the growth rate you divide the change in the amounts by the earliest amount
|
13 .pension and other postretirement benefit plans the company has defined benefit pension plans covering eligible employees in the united states and in certain of its international subsidiaries .as a result of plan design changes approved in 2011 , beginning on january 1 , 2013 , active participants in merck 2019s primary u.s .defined benefit pension plans are accruing pension benefits using new cash balance formulas based on age , service , pay and interest .however , during a transition period from january 1 , 2013 through december 31 , 2019 , participants will earn the greater of the benefit as calculated under the employee 2019s legacy final average pay formula or their new cash balance formula .for all years of service after december 31 , 2019 , participants will earn future benefits under only the cash balance formula .in addition , the company provides medical benefits , principally to its eligible u.s .retirees and their dependents , through its other postretirement benefit plans .the company uses december 31 as the year-end measurement date for all of its pension plans and other postretirement benefit plans .net periodic benefit cost the net periodic benefit cost for pension and other postretirement benefit plans consisted of the following components: .
[['years ended december 31', 'pension benefits 2013', 'pension benefits 2012', 'pension benefits 2011', 'pension benefits 2013', 'pension benefits 2012', '2011'], ['service cost', '$ 682', '$ 555', '$ 619', '$ 102', '$ 82', '$ 110'], ['interest cost', '665', '661', '718', '107', '121', '141'], ['expected return on plan assets', '-1097 ( 1097 )', '-970 ( 970 )', '-972 ( 972 )', '-126 ( 126 )', '-136 ( 136 )', '-142 ( 142 )'], ['net amortization', '336', '185', '201', '-50 ( 50 )', '-35 ( 35 )', '-17 ( 17 )'], ['termination benefits', '58', '27', '59', '50', '18', '29'], ['curtailments', '-23 ( 23 )', '-10 ( 10 )', '-86 ( 86 )', '-11 ( 11 )', '-7 ( 7 )', '1'], ['settlements', '23', '18', '4', '2014', '2014', '2014'], ['net periodic benefit cost', '$ 644', '$ 466', '$ 543', '$ 72', '$ 43', '$ 122']]
the increase in net periodic benefit cost for pension and other postretirement benefit plans in 2013 as compared with 2012 is largely attributable to a change in the discount rate .the net periodic benefit cost attributable to u.s .pension plans included in the above table was $ 348 million in 2013 , $ 268 million in 2012 and $ 406 million in in connection with restructuring actions ( see note 3 ) , termination charges were recorded in 2013 , 2012 and 2011 on pension and other postretirement benefit plans related to expanded eligibility for certain employees exiting merck .also , in connection with these restructuring activities , curtailments were recorded in 2013 , 2012 and 2011 on pension and other postretirement benefit plans .in addition , settlements were recorded in 2013 , 2012 and 2011 on certain domestic and international pension plans .table of contents .
|
considering the years 2013 and 2012 , what is the variation observed in the expected return on plan assets , in millions?
|
127
|
{
"answer": "127",
"decimal": 127,
"type": "float"
}
|
it is the difference between each year's expected return on plan assets .
|
entergy mississippi , inc .management's financial discussion and analysis results of operations net income 2008 compared to 2007 net income decreased $ 12.4 million primarily due to higher other operation and maintenance expenses , lower other income , and higher depreciation and amortization expenses , partially offset by higher net revenue .2007 compared to 2006 net income increased $ 19.8 million primarily due to higher net revenue , lower other operation and maintenance expenses , higher other income , and lower interest expense , partially offset by higher depreciation and amortization expenses .net revenue 2008 compared to 2007 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 2008 to 2007 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2007 net revenue', '$ 486.9'], ['attala costs', '9.9'], ['rider revenue', '6.0'], ['base revenue', '5.1'], ['reserve equalization', '-2.4 ( 2.4 )'], ['net wholesale revenue', '-4.0 ( 4.0 )'], ['other', '-2.7 ( 2.7 )'], ['2008 net revenue', '$ 498.8']]
the attala costs variance is primarily due to an increase in the attala power plant costs that are recovered through the power management rider .the net income effect of this recovery in limited to a portion representing an allowed return on equity with the remainder offset by attala power plant costs in other operation and maintenance expenses , depreciation expenses , and taxes other than income taxes .the recovery of attala power plant costs is discussed further in "liquidity and capital resources - uses of capital" below .the rider revenue variance is the result of a storm damage rider that became effective in october 2007 .the establishment of this rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense for the storm reserve with no effect on net income .the base revenue variance is primarily due to a formula rate plan increase effective july 2007 .the formula rate plan filing is discussed further in "state and local rate regulation" below .the reserve equalization variance is primarily due to changes in the entergy system generation mix compared to the same period in 2007. .
|
what is the growth rate in net revenue during 2008?
|
2.4%
|
{
"answer": "2.4%",
"decimal": 0.024,
"type": "percentage"
}
| |
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 may require the government to acquire an ownership interest and the current expectation of future losses .our evaluation indicated that the long-lived assets were no longer recoverable and , accordingly , they were written down to their estimated fair value of $ 24 million based on a discounted cash flow analysis .the long-lived assets had a carrying amount of $ 66 million prior to the recognition of asset impairment expense .kelanitissa is a build- operate-transfer ( bot ) generation facility and payments under its ppa are scheduled to decline over the ppa term .it is possible that further impairment charges may be required in the future as kelanitissa gets closer to the bot date .kelanitissa is reported in the asia generation reportable segment .asset impairment expense for the year ended december 31 , 2010 consisted of : ( in millions ) .
[['', '2010 ( in millions )'], ['southland ( huntington beach )', '$ 200'], ['tisza ii', '85'], ['deepwater', '79'], ['other', '25'], ['total', '$ 389']]
southland 2014in september 2010 , a new environmental policy on the use of ocean water to cool generation facilities was issued in california that requires generation plants to comply with the policy by december 31 , 2020 and would require significant capital expenditure or plants 2019 shutdown .the company 2019s huntington beach gas-fired generation facility in california , which is part of aes 2019 southland business , was impacted by the new policy .the company performed an asset impairment test and determined the fair value of the asset group using a discounted cash flow analysis .the carrying value of the asset group of $ 288 million exceeded the fair value of $ 88 million resulting in the recognition of asset impairment expense of $ 200 million for the year ended december 31 , 2010 .southland is reported in the north america generation reportable segment .tisza ii 2014during the third quarter of 2010 , the company entered into annual negotiations with the offtaker of tisza ii .as a result of these preliminary negotiations , as well as the further deterioration of the economic environment in hungary , the company determined that an indicator of impairment existed at september 30 , 2010 .thus , the company performed an asset impairment test and determined that based on the undiscounted cash flow analysis , the carrying amount of the tisza ii asset group was not recoverable .the fair value of the asset group was then determined using a discounted cash flow analysis .the carrying value of the tisza ii asset group of $ 160 million exceeded the fair value of $ 75 million resulting in the recognition of asset impairment expense of $ 85 million during the year ended december 31 , 2010 .deepwater 2014in 2010 , deepwater , our 160 mw petcoke-fired merchant power plant located in texas , experienced deteriorating market conditions due to increasing petcoke prices and diminishing power prices .as a result , deepwater incurred operating losses and was shut down from time to time to avoid negative operating margin .in the fourth quarter of 2010 , management concluded that , on an undiscounted cash flow basis , the carrying amount of the asset group was no longer recoverable .the fair value of deepwater was determined using a discounted cash flow analysis and $ 79 million of impairment expense was recognized .deepwater is reported in the north america generation reportable segment. .
|
the deepwater write-down was what percent of total impairments?
|
19.5%
|
{
"answer": "19.5%",
"decimal": 0.195,
"type": "percentage"
}
| |
the hartford financial services group , inc .notes to consolidated financial statements ( continued ) 10 .sales inducements accounting policy the company currently offers enhanced crediting rates or bonus payments to contract holders on certain of its individual and group annuity products .the expense associated with offering a bonus is deferred and amortized over the life of the related contract in a pattern consistent with the amortization of deferred policy acquisition costs .amortization expense associated with expenses previously deferred is recorded over the remaining life of the contract .consistent with the unlock , the company unlocked the amortization of the sales inducement asset .see note 7 for more information concerning the unlock .changes in deferred sales inducement activity were as follows for the years ended december 31: .
[['', '2011', '2010', '2009'], ['balance beginning of year', '$ 459', '$ 438', '$ 553'], ['sales inducements deferred', '20', '31', '59'], ['amortization charged to income', '-17 ( 17 )', '-8 ( 8 )', '-105 ( 105 )'], ['amortization 2014 unlock', '-28 ( 28 )', '-2 ( 2 )', '-69 ( 69 )'], ['balance end of year', '$ 434', '$ 459', '$ 438']]
11 .reserves for future policy benefits and unpaid losses and loss adjustment expenses life insurance products accounting policy liabilities for future policy benefits are calculated by the net level premium method using interest , withdrawal and mortality assumptions appropriate at the time the policies were issued .the methods used in determining the liability for unpaid losses and future policy benefits are standard actuarial methods recognized by the american academy of actuaries .for the tabular reserves , discount rates are based on the company 2019s earned investment yield and the morbidity/mortality tables used are standard industry tables modified to reflect the company 2019s actual experience when appropriate .in particular , for the company 2019s group disability known claim reserves , the morbidity table for the early durations of claim is based exclusively on the company 2019s experience , incorporating factors such as gender , elimination period and diagnosis .these reserves are computed such that they are expected to meet the company 2019s future policy obligations .future policy benefits are computed at amounts that , with additions from estimated premiums to be received and with interest on such reserves compounded annually at certain assumed rates , are expected to be sufficient to meet the company 2019s policy obligations at their maturities or in the event of an insured 2019s death .changes in or deviations from the assumptions used for mortality , morbidity , expected future premiums and interest can significantly affect the company 2019s reserve levels and related future operations and , as such , provisions for adverse deviation are built into the long-tailed liability assumptions .liabilities for the company 2019s group life and disability contracts , as well as its individual term life insurance policies , include amounts for unpaid losses and future policy benefits .liabilities for unpaid losses include estimates of amounts to fully settle known reported claims , as well as claims related to insured events that the company estimates have been incurred but have not yet been reported .these reserve estimates are based on known facts and interpretations of circumstances , and consideration of various internal factors including the hartford 2019s experience with similar cases , historical trends involving claim payment patterns , loss payments , pending levels of unpaid claims , loss control programs and product mix .in addition , the reserve estimates are influenced by consideration of various external factors including court decisions , economic conditions and public attitudes .the effects of inflation are implicitly considered in the reserving process. .
|
what is the net change in the balance of deferred sales in 2010?
|
21
|
{
"answer": "21",
"decimal": 21,
"type": "float"
}
| |
9 .lease commitments the company leases certain land , facilities , equipment and software under various operating leases that expire at various dates through 2057 .the lease agreements frequently include renewal and escalation clauses and require the company to pay taxes , insurance and maintenance costs .total rental expense under operating leases was approximatelya $ 92.3 million in fiscal 2019 , $ 84.9 million in fiscal 2018 and $ 58.8 million in fiscal 2017 .the following is a schedule of futureff minimum rental payments required under long-term operating leases at november 2 , 2019 : operating fiscal years leases .
[['fiscal years', 'operating leases'], ['2020', '$ 79789'], ['2021', '67993'], ['2022', '40338'], ['2023', '37673'], ['2024', '32757'], ['later years', '190171'], ['total', '$ 448721']]
10 .commitments and contingencies from time to time , in the ordinary course of the company 2019s business , various claims , charges and litigation are asserted or commenced against the company arising from , or related to , among other things , contractual matters , patents , trademarks , personal injury , environmental matters , product liability , insurance coverage , employment or employment benefits .as to such claims and litigation , the company can give no assurance that it will prevail .the company does not believe that any current legal matters will have a material adverse effect on the company 2019s financial position , results of operations or cash flows .11 .retirement plans the company and its subsidiaries have various savings and retirement plans covering substantially all employees .defined contribution plans the company maintains a defined contribution plan for the benefit of its eligible u.s .employees .this plan provides for company contributions of up to 5% ( 5 % ) of each participant 2019s total eligible compensation .in addition , the company contributes an amount equal to each participant 2019s pre-tax contribution , if any , up to a maximum of 3% ( 3 % ) of each participant 2019s total eligible compensation .the total expense related to the defined contribution plans for u.s .employees was $ 47.7 million in fiscal 2019 , $ 41.4 million in fiscal 2018 and $ 35.8 million in fiscal 2017 .non-qualified deferred compensation plan the deferred compensation plan ( dcp ) allows certain members of management and other highly-compensated employees and non-employee directors to defer receipt of all or any portion of their compensation .the dcp was established to provide participants with the opportunity to defer receiving all or a portion of their compensation , which includes salary , bonus , commissions and director fees .under the dcp , the company provides all participants ( other than non-employee directors ) with company contributions equal to 8% ( 8 % ) of eligible deferred contributions .the dcp is a non-qualified plan that is maintained in a rabbi trust .the fair value of the investments held in the rabbi trust are presented separately as deferred compensation plan investments , with the current portion of the investment included in prepaid expenses and other current assets in the consolidated balance sheets .see note 2j , fair value , for further information on these investments .the deferred compensation obligation represents dcp participant accumulated deferrals and earnings thereon since the inception of the dcp net of withdrawals .the deferred compensation obligation is presented separately as deferred compensation plan liability , with the current portion of the obligation in accrued liabilities in the consolidated balance sheets .the company 2019s liability under the dcp is an unsecured general obligation of the company .analog devices , inc .notes to consolidated financial statements 2014 ( continued ) .
|
what is the expected percentage change in total rental expense under operating leases in 2020 compare to 2019?
|
-13.5%
|
{
"answer": "-13.5%",
"decimal": -0.135,
"type": "percentage"
}
| |
condition are valued using a monte carlo model .expected volatility is based on historical volatilities of traded common stock of the company and comparative companies using daily stock prices over the past three years .the expected term is three years and the risk-free interest rate is based on the three-year u.s .treasury rate in effect as of the measurement date .the following table provides the weighted average assumptions used in the monte carlo simulation and the weighted average grant date fair values of psus granted for the years ended december 31: .
[['', '2018', '2017', '2016'], ['expected volatility', '17.23% ( 17.23 % )', '17.40% ( 17.40 % )', '15.90% ( 15.90 % )'], ['risk-free interest rate', '2.36% ( 2.36 % )', '1.53% ( 1.53 % )', '0.91% ( 0.91 % )'], ['expected life ( years )', '3.0', '3.0', '3.0'], ['grant date fair value per share', '$ 73.62', '$ 72.81', '$ 77.16']]
the grant date fair value of psus that vest ratably and have market and/or performance conditions are amortized through expense over the requisite service period using the graded-vesting method .if dividends are paid with respect to shares of the company 2019s common stock before the rsus and psus are distributed , the company credits a liability for the value of the dividends that would have been paid if the rsus and psus were shares of company common stock .when the rsus and psus are distributed , the company pays the participant a lump sum cash payment equal to the value of the dividend equivalents accrued .the company accrued dividend equivalents totaling $ 1 million , less than $ 1 million and $ 1 million to accumulated deficit in the accompanying consolidated statements of changes in shareholders 2019 equity for the years ended december 31 , 2018 , 2017 and 2016 , respectively .employee stock purchase plan the company maintains a nonqualified employee stock purchase plan ( the 201cespp 201d ) through which employee participants may use payroll deductions to acquire company common stock at a discount .prior to february 5 , 2019 , the purchase price of common stock acquired under the espp was the lesser of 90% ( 90 % ) of the fair market value of the common stock at either the beginning or the end of a three -month purchase period .on july 27 , 2018 , the espp was amended , effective february 5 , 2019 , to permit employee participants to acquire company common stock at 85% ( 85 % ) of the fair market value of the common stock at the end of the purchase period .as of december 31 , 2018 , there were 1.9 million shares of common stock reserved for issuance under the espp .the espp is considered compensatory .during the years ended december 31 , 2018 , 2017 and 2016 , the company issued 95 thousand , 93 thousand and 93 thousand shares , respectively , under the espp. .
|
by how much did the grant date fair value per share increase from 2017 to 2018?
|
1.1%
|
{
"answer": "1.1%",
"decimal": 0.011000000000000001,
"type": "percentage"
}
| |
notes to consolidated financial statements fifth third bancorp 81 vii held by the trust vii bear a fixed rate of interest of 8.875% ( 8.875 % ) until may 15 , 2058 .thereafter , the notes pay a floating rate at three-month libor plus 500 bp .the bancorp entered into an interest rate swap to convert $ 275 million of the fixed-rate debt into floating .at december 31 , 2008 , the rate paid on the swap was 6.05% ( 6.05 % ) .the jsn vii may be redeemed at the option of the bancorp on or after may 15 , 2013 , or in certain other limited circumstances , at a redemption price of 100% ( 100 % ) of the principal amount plus accrued but unpaid interest .all redemptions are subject to certain conditions and generally require approval by the federal reserve board .subsidiary long-term borrowings the senior fixed-rate bank notes due from 2009 to 2019 are the obligations of a subsidiary bank .the maturities of the face value of the senior fixed-rate bank notes are as follows : $ 36 million in 2009 , $ 800 million in 2010 and $ 275 million in 2019 .the bancorp entered into interest rate swaps to convert $ 1.1 billion of the fixed-rate debt into floating rates .at december 31 , 2008 , the rates paid on these swaps were 2.19% ( 2.19 % ) on $ 800 million and 2.20% ( 2.20 % ) on $ 275 million .in august 2008 , $ 500 million of senior fixed-rate bank notes issued in july of 2003 matured and were paid .these long-term bank notes were issued to third-party investors at a fixed rate of 3.375% ( 3.375 % ) .the senior floating-rate bank notes due in 2013 are the obligations of a subsidiary bank .the notes pay a floating rate at three-month libor plus 11 bp .the senior extendable notes consist of $ 797 million that currently pay interest at three-month libor plus 4 bp and $ 400 million that pay at the federal funds open rate plus 12 bp .the subordinated fixed-rate bank notes due in 2015 are the obligations of a subsidiary bank .the bancorp entered into interest rate swaps to convert the fixed-rate debt into floating rate .at december 31 , 2008 , the weighted-average rate paid on the swaps was 3.29% ( 3.29 % ) .the junior subordinated floating-rate bank notes due in 2032 and 2033 were assumed by a bancorp subsidiary as part of the acquisition of crown in november 2007 .two of the notes pay floating at three-month libor plus 310 and 325 bp .the third note pays floating at six-month libor plus 370 bp .the three-month libor plus 290 bp and the three-month libor plus 279 bp junior subordinated debentures due in 2033 and 2034 , respectively , were assumed by a subsidiary of the bancorp in connection with the acquisition of first national bank .the obligations were issued to fnb statutory trusts i and ii , respectively .the junior subordinated floating-rate bank notes due in 2035 were assumed by a bancorp subsidiary as part of the acquisition of first charter in may 2008 .the obligations were issued to first charter capital trust i and ii , respectively .the notes of first charter capital trust i and ii pay floating at three-month libor plus 169 bp and 142 bp , respectively .the bancorp has fully and unconditionally guaranteed all obligations under the acquired trust preferred securities .at december 31 , 2008 , fhlb advances have rates ranging from 0% ( 0 % ) to 8.34% ( 8.34 % ) , with interest payable monthly .the advances are secured by certain residential mortgage loans and securities totaling $ 8.6 billion .at december 31 , 2008 , $ 2.5 billion of fhlb advances are floating rate .the bancorp has interest rate caps , with a notional of $ 1.5 billion , held against its fhlb advance borrowings .the $ 3.6 billion in advances mature as follows : $ 1.5 billion in 2009 , $ 1 million in 2010 , $ 2 million in 2011 , $ 1 billion in 2012 and $ 1.1 billion in 2013 and thereafter .medium-term senior notes and subordinated bank notes with maturities ranging from one year to 30 years can be issued by two subsidiary banks , of which $ 3.8 billion was outstanding at december 31 , 2008 with $ 16.2 billion available for future issuance .there were no other medium-term senior notes outstanding on either of the two subsidiary banks as of december 31 , 2008 .15 .commitments , contingent liabilities and guarantees the bancorp , in the normal course of business , enters into financial instruments and various agreements to meet the financing needs of its customers .the bancorp also enters into certain transactions and agreements to manage its interest rate and prepayment risks , provide funding , equipment and locations for its operations and invest in its communities .these instruments and agreements involve , to varying degrees , elements of credit risk , counterparty risk and market risk in excess of the amounts recognized in the bancorp 2019s consolidated balance sheets .creditworthiness for all instruments and agreements is evaluated on a case-by-case basis in accordance with the bancorp 2019s credit policies .the bancorp 2019s significant commitments , contingent liabilities and guarantees in excess of the amounts recognized in the consolidated balance sheets are summarized as follows : commitments the bancorp has certain commitments to make future payments under contracts .a summary of significant commitments at december 31: .
[['( $ in millions )', '2008', '2007'], ['commitments to extend credit', '$ 49470', '49788'], ['letters of credit ( including standby letters of credit )', '8951', '8522'], ['forward contracts to sell mortgage loans', '3235', '1511'], ['noncancelable lease obligations', '937', '734'], ['purchase obligations', '81', '52'], ['capital expenditures', '68', '94']]
commitments to extend credit are agreements to lend , typically having fixed expiration dates or other termination clauses that may require payment of a fee .since many of the commitments to extend credit may expire without being drawn upon , the total commitment amounts do not necessarily represent future cash flow requirements .the bancorp is exposed to credit risk in the event of nonperformance for the amount of the contract .fixed-rate commitments are also subject to market risk resulting from fluctuations in interest rates and the bancorp 2019s exposure is limited to the replacement value of those commitments .as of december 31 , 2008 and 2007 , the bancorp had a reserve for unfunded commitments totaling $ 195 million and $ 95 million , respectively , included in other liabilities in the consolidated balance sheets .standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party .at december 31 , 2008 , approximately $ 3.3 billion of letters of credit expire within one year ( including $ 57 million issued on behalf of commercial customers to facilitate trade payments in dollars and foreign currencies ) , $ 5.3 billion expire between one to five years and $ 0.4 billion expire thereafter .standby letters of credit are considered guarantees in accordance with fasb interpretation no .45 , 201cguarantor 2019s accounting and disclosure requirements for guarantees , including indirect guarantees of indebtedness of others 201d ( fin 45 ) .at december 31 , 2008 , the reserve related to these standby letters of credit was $ 3 million .approximately 66% ( 66 % ) and 70% ( 70 % ) of the total standby letters of credit were secured as of december 31 , 2008 and 2007 , respectively .in the event of nonperformance by the customers , the bancorp has rights to the underlying collateral , which can include commercial real estate , physical plant and property , inventory , receivables , cash and marketable securities .the bancorp monitors the credit risk associated with the standby letters of credit using the same dual risk rating system utilized for .
|
what was the average securitization rate of standby letters of credit as of december 2008 and 2007?
|
68%
|
{
"answer": "68%",
"decimal": 0.68,
"type": "percentage"
}
| |
as of december 31 , 2012 and 2011 , the estimated value of the company's uncertain tax positions were liabilities of $ 19 million and $ 6 million , respectively .assuming sustainment of these positions , the reversal of $ 1 million of the amounts accrued would favorably affect the company's effective federal income tax rate in future periods .accrued interest and penalties with respect to unrecognized tax benefits were $ 2 million and $ 3 million as of december 31 , 2012 and 2011 , respectively .during 2011 , the company recorded a reduction of $ 10 million to its liability for uncertain tax positions relating to tax periods prior to the spin-off for which northrop grumman is the primary obligor .during 2010 , northrop grumman reached final settlement with the irs and the u .s .congressional joint committee on taxation on the irs examination of northrop grumman's tax returns for the years 2004 through 2006 .as a result of this settlement , the company recognized tax benefits of $ 8 million as a reduction to the provision for income taxes .in connection with the settlement , the company also recorded a reduction of $ 10 million to its liability for uncertain tax positions , including previously accrued interest , of $ 2 million .the following table summarizes the tax years that are either currently under examination or remain open under the statute of limitations and subject to examination by the major tax jurisdictions in which the company operates: .
[['jurisdiction united states', 'jurisdiction 2007', 'jurisdiction -', '2012'], ['california', '2007', '-', '2012'], ['louisiana', '2007', '-', '2012'], ['mississippi', '2009', '-', '2012'], ['virginia', '2006', '-', '2012']]
although the company believes it has adequately provided for all uncertain tax positions , amounts asserted by taxing authorities could be greater than the company's accrued position .accordingly , additional provisions on federal and state income tax related matters could be recorded in the future as revised estimates are made or the underlying matters are effectively settled or otherwise resolved .conversely , the company could settle positions with the tax authorities for amounts lower than have been accrued .the company believes it is reasonably possible that during the next 12 months the company's liability for uncertain tax positions may decrease by approximately $ 14 million .the company recognizes accrued interest and penalties related to uncertain tax positions in income tax expense .the irs is currently conducting an examination of northrop grumman's consolidated tax returns , of which hii was part , for the years 2007 through 2009 .open tax years related to state jurisdictions remain subject to examination .as of march 31 , 2011 , the date of the spin-off , the company's liability for uncertain tax positions was approximately $ 4 million , net of federal benefit , which related solely to state income tax positions .under the terms of the separation agreement , northrop grumman is obligated to reimburse hii for any settlement liabilities paid by hii to any government authority for tax periods prior to the spin-off , which include state income taxes .accordingly , the company has recorded a reimbursement receivable of approximately $ 4 million , net of federal benefit , in other assets related to uncertain tax positions for state income taxes as of the date of the spin-off .deferred income taxes - deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and income tax purposes .such amounts are classified in the consolidated statements of financial position as current or non-current assets or liabilities based upon the classification of the related assets and liabilities. .
|
how many years of tax examination is the company subject to in mississippi?
|
3
|
{
"answer": "3",
"decimal": 3,
"type": "float"
}
| |
abiomed , inc .and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 15 .commitments and contingencies ( continued ) the company applies the disclosure provisions of fin no .45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no .5 , 57 and 107 and rescission of fasb interpretation no .34 ( fin no .45 ) to its agreements that contain guarantee or indemnification clauses .these disclosure provisions expand those required by sfas no .5 , accounting for contingencies , by requiring that guarantors disclose certain types of guarantees , even if the likelihood of requiring the guarantor 2019s performance is remote .in addition to product warranties , the following is a description of arrangements in which the company is a guarantor .indemnifications 2014in many sales transactions , the company indemnifies customers against possible claims of patent infringement caused by the company 2019s products .the indemnifications contained within sales contracts usually do not include limits on the claims .the company has never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions .under the provisions of fin no .45 , intellectual property indemnifications require disclosure only .the company enters into agreements with other companies in the ordinary course of business , typically with underwriters , contractors , clinical sites and customers that include indemnification provisions .under these provisions the company generally indemnifies and holds harmless the indemnified party for losses suffered or incurred by the indemnified party as a result of its activities .these indemnification provisions generally survive termination of the underlying agreement .the maximum potential amount of future payments the company could be required to make under these indemnification provisions is unlimited .abiomed has never incurred any material costs to defend lawsuits or settle claims related to these indemnification agreements .as a result , the estimated fair value of these agreements is minimal .accordingly , the company has no liabilities recorded for these agreements as of march 31 , 2008 .clinical study agreements 2014in the company 2019s clinical study agreements , abiomed has agreed to indemnify the participating institutions against losses incurred by them for claims related to any personal injury of subjects taking part in the study to the extent they relate to uses of the company 2019s devices in accordance with the clinical study agreement , the protocol for the device and abiomed 2019s instructions .the indemnification provisions contained within the company 2019s clinical study agreements do not generally include limits on the claims .the company has never incurred any material costs related to the indemnification provisions contained in its clinical study agreements .facilities leases 2014as of march 31 , 2008 , the company had entered into leases for its facilities , including its primary operating facility in danvers , massachusetts with terms through fiscal 2010 .the danvers lease may be extended , at the company 2019s option , for two successive additional periods of five years each with monthly rent charges to be determined based on then current fair rental values .the company 2019s lease for its aachen location expires in december 2012 .total rent expense under these leases , included in the accompanying consolidated statements of operations approximated $ 2.2 million , $ 1.6 million , and $ 1.3 million for the fiscal years ended march 31 , 2008 , 2007 and 2006 , respectively .future minimum lease payments under all significant non-cancelable operating leases as of march 31 , 2008 are approximately as follows : fiscal year ending march 31 , operating leases ( in $ 000 2019s ) .
[['fiscal year ending march 31,', 'operating leases ( in $ 000 2019s )'], ['2009', '2544'], ['2010', '2220'], ['2011', '1287'], ['2012', '973'], ['2013', '730'], ['thereafter', '2014'], ['total future minimum lease payments', '$ 7754']]
litigation 2014from time-to-time , the company is involved in legal and administrative proceedings and claims of various types .while any litigation contains an element of uncertainty , management presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , is not expected to have a material adverse effect on the company 2019s financial position , cash flow and results. .
|
the total rent for leases in the fiscal years ended march 31 , 2008 , 2007 and 2006 is what percent of the entire future minimum lease payments?
|
66%
|
{
"answer": "66%",
"decimal": 0.66,
"type": "percentage"
}
| |
the goldman sachs group , inc .and subsidiaries notes to consolidated financial statements commercial lending .the firm 2019s commercial lending commitments are extended to investment-grade and non-investment-grade corporate borrowers .commitments to investment-grade corporate borrowers are principally used for operating liquidity and general corporate purposes .the firm also extends lending commitments in connection with contingent acquisition financing and other types of corporate lending , as well as commercial real estate financing .commitments that are extended for contingent acquisition financing are often intended to be short-term in nature , as borrowers often seek to replace them with other funding sources .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 $ 25.70 billion and $ 26.88 billion as of december 2017 and december 2016 , 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 $ 550 million and $ 768 million of protection had been provided as of december 2017 and december 2016 , 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 retail and corporate loans .contingent and forward starting collateralized agreements / forward starting collateralized financings contingent and forward starting collateralized agreements includes resale and securities borrowing agreements , and forward starting collateralized financings includes repurchase and secured lending agreements that settle at a future date , generally within three business days .the firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements .the firm 2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused .letters of credit the firm has commitments under letters of credit issued by various banks which the firm provides to counterparties in lieu of securities or cash to satisfy various collateral and margin deposit requirements .investment commitments investment commitments includes commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages .investment commitments included $ 2.09 billion and $ 2.10 billion as of december 2017 and december 2016 , respectively , related to commitments to invest in funds managed by the firm .if these commitments are called , they would be funded at market value on the date of investment .leases the firm has contractual obligations under long-term noncancelable lease agreements 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 2017 .
[['$ in millions', 'as of december 2017'], ['2018', '$ 299'], ['2019', '282'], ['2020', '262'], ['2021', '205'], ['2022', '145'], ['2023 - thereafter', '771'], ['total', '$ 1964']]
rent charged to operating expenses was $ 273 million for 2017 , $ 244 million for 2016 and $ 249 million for 2015 .goldman sachs 2017 form 10-k 163 .
|
what percentage of future minimum rental payments are due after 2022?
|
39%
|
{
"answer": "39%",
"decimal": 0.39,
"type": "percentage"
}
| |
note 6 2014mergers and acquisitions eldertrust merger on february 5 , 2004 , the company consummated a merger transaction in an all cash transaction valued at $ 184 million ( the 201celdertrust transaction 201d ) .the eldertrust transaction adds nine assisted living facilities , one independent living facility , five skilled nursing facilities , two med- ical office buildings and a financial office building ( the 201celdertrust properties 201d ) to the company 2019s portfolio.the eldertrust properties are leased by the company to various operators under leases providing for aggregated , annual cash base rent of approxi- mately $ 16.2 million , subject to escalation as provided in the leases.the leases have remaining terms primarily ranging from four to 11 years.at the closing of the eldertrust transaction , the company also acquired all of the limited partnership units in eldertrust operating limited partnership ( 201cetop 201d ) directly from their owners at $ 12.50 per unit , excluding 31455 class c units in etop ( which will remain outstanding ) .etop owns directly or indirectly all of the eldertrust properties .the company funded the $ 101 million equity portion of the purchase price with cash on eldertrust 2019s balance sheet , a portion of the $ 85 million in proceeds from its december 2003 sale of ten facilities to kindred and draws on the company 2019s revolving credit facility ( the 201crevolving credit facility 201d ) under its second amended and restated security and guaranty agreement , dated as of april 17 , 2002 ( the 201c2002 credit agreement 201d ) .the company 2019s ownership of the eldertrust properties is subject to approximately $ 83 million of property level debt and other liabilities.at the close of the eldertrust transaction , eldertrust had approximately $ 33.5 million in unrestricted and restricted cash on hand .the acquisition was accounted for under the purchase method .the following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of acquisition .such estimates are subject to refinement as additional valuation information is received .operations from this merger will be reflected in the company 2019s consolidated financial state- ments for periods subsequent to the acquisition date of february 5 , 2004.the company is in the process of computing fair values , thus , the allocation of the purchase price is subject to refinement. .
[['', '( in millions )'], ['real estate investments', '$ 162'], ['cash and cash equivalents', '28'], ['other assets', '5'], ['total assets acquired', '$ 195'], ['notes payable and other debt', '83'], ['accounts payable and other accrued liabilities', '2'], ['total liabilities assumed', '85'], ['net assets acquired', '$ 110']]
transaction with brookdale on january 29 , 2004 , the company entered into 14 definitive purchase agreements ( each , a 201cbrookdale purchase agreement 201d ) with certain affiliates of brookdale living communities , inc .( 201cbrookdale 201d ) to purchase ( each such purchase , a 201cbrookdale acquisition 201d ) a total of 14 independent living or assisted living facilities ( each , a 201cbrookdale facility 201d ) for an aggregate purchase price of $ 115 million.affiliates of brookdale have agreed to lease and operate the brookdale facilities pursuant to one or more triple-net leases.all of the brookdale leases , which have an initial term of 15 years , will be guaranteed by brookdale and provide for aggregated annual base rent of approximately $ 10 million , escalating each year by the greater of ( i ) 1.5% ( 1.5 % ) or ( ii ) 75% ( 75 % ) of the consumer price index .the company expects to fund the brookdale acquisitions by assuming an aggregate of approximately $ 41 million of non- recourse property level debt on certain of the brookdale facilities , with the balance to be paid from cash on hand and/or draws on the revolving credit facility.the property level debt encumbers seven of the brookdale facilities .on january 29 , 2004 , the company completed the acquisitions of four brookdale facilities for an aggregate purchase price of $ 37 million.the company 2019s acquisition of the remaining ten brookdale facilities is expected to be completed shortly , subject to customary closing conditions .however , the consummation of each such brookdale acquisition is not conditioned upon the consummation of any other such brookdale acquisition and there can be no assurance which , if any , of such remaining brookdale acquisitions will be consummated or when they will be consummated .transactions with trans healthcare , inc .on november 4 , 2002 , the company , through its wholly owned subsidiary ventas realty , completed a $ 120.0 million transaction ( the 201cthi transaction 201d ) with trans healthcare , inc. , a privately owned long-term care and hospital company ( 201cthi 201d ) .the thi transaction was structured as a $ 53.0 million sale leaseback trans- action ( the 201cthi sale leaseback 201d ) and a $ 67.0 million loan ( the 201cthi loan 201d ) , comprised of a first mortgage loan ( the 201cthi senior loan 201d ) and a mezzanine loan ( the 201cthi mezzanine loan 201d ) .following a sale of the thi senior loan in december 2002 ( see below ) , the company 2019s investment in thi was $ 70.0 million .as part of the thi sale leasebackventas realty purchased 5 properties and is leasing them back to thi under a 201ctriple-net 201d master lease ( the 201cthi master lease 201d ) .the properties subject to the sale leaseback are four skilled nursing facilities and one con- tinuing care retirement community.the thi master lease , which has an initial term of ten years , provides for annual base rent of $ 5.9 million.the thi master lease provides that if thi meets specified revenue parameters , annual base rent will escalate each year by the greater of ( i ) three percent or ( ii ) 50% ( 50 % ) of the consumer price index .ventas , inc .page 37 annual report 2003 .
|
what as the leverage of the debt to assets of elder trust at the time of the to the purchase
|
0.436
|
{
"answer": "0.436",
"decimal": 0.436,
"type": "float"
}
|
the ratio of the debt to the assets show how much of each dollar invested in debt produces assets
|
entergy arkansas 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. .
[['2017', '2016', '2015', '2014'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['( $ 166137 )', '( $ 51232 )', '( $ 52742 )', '$ 2218']]
see note 4 to the financial statements for a description of the money pool .entergy arkansas has a credit facility in the amount of $ 150 million scheduled to expire in august 2022 .entergy arkansas also has a $ 20 million credit facility scheduled to expire in april 2018 . a0 a0the $ 150 million credit facility permits the issuance of letters of credit against $ 5 million of the borrowing capacity of the facility .as of december 31 , 2017 , there were no cash borrowings and no letters of credit outstanding under the credit facilities .in addition , entergy arkansas is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations to miso .as of december 31 , 2017 , a $ 1 million letter of credit was outstanding under entergy arkansas 2019s uncommitted letter of credit facility .see note 4 to the financial statements for further discussion of the credit facilities .the entergy arkansas nuclear fuel company variable interest entity has a credit facility in the amount of $ 80 million scheduled to expire in may 2019 . a0 a0as of december 31 , 2017 , $ 50 million in letters of credit to support a like amount of commercial paper issued and $ 24.9 million in loans were outstanding under the entergy arkansas nuclear fuel company variable interest entity credit facility .see note 4 to the financial statements for further discussion of the nuclear fuel company variable interest entity credit facility .entergy arkansas obtained authorizations from the ferc through october 2019 for short-term borrowings not to exceed an aggregate amount of $ 250 million at any time outstanding and borrowings by its nuclear fuel company variable interest entity .see note 4 to the financial statements for further discussion of entergy arkansas 2019s short-term borrowing limits .the long-term securities issuances of entergy arkansas are limited to amounts authorized by the apsc , and the current authorization extends through december 2018 .entergy arkansas , inc .and subsidiaries management 2019s financial discussion and analysis state and local rate regulation and fuel-cost recovery retail rates 2015 base rate filing in april 2015 , entergy arkansas filed with the apsc for a general change in rates , charges , and tariffs .the filing notified the apsc of entergy arkansas 2019s intent to implement a forward test year formula rate plan pursuant to arkansas legislation passed in 2015 , and requested a retail rate increase of $ 268.4 million , with a net increase in revenue of $ 167 million .the filing requested a 10.2% ( 10.2 % ) return on common equity .in september 2015 the apsc staff and intervenors filed direct testimony , with the apsc staff recommending a revenue requirement of $ 217.9 million and a 9.65% ( 9.65 % ) return on common equity .in december 2015 , entergy arkansas , the apsc staff , and certain of the intervenors in the rate case filed with the apsc a joint motion for approval of a settlement of the case that proposed a retail rate increase of approximately $ 225 million with a net increase in revenue of approximately $ 133 million ; an authorized return on common equity of 9.75% ( 9.75 % ) ; and a formula rate plan tariff that provides a +/- 50 basis point band around the 9.75% ( 9.75 % ) allowed return on common equity .a significant portion of the rate increase is related to entergy arkansas 2019s acquisition in march 2016 of union power station power block 2 for a base purchase price of $ 237 million .the settlement agreement also provided for amortization over a 10-year period of $ 7.7 million of previously-incurred costs related to ano post-fukushima compliance and $ 9.9 million of previously-incurred costs related to ano flood barrier compliance .a settlement hearing was held in january 2016 .in february 2016 the apsc approved the settlement with one exception that reduced the retail rate increase proposed in the settlement by $ 5 million .the settling parties agreed to the apsc modifications in february 2016 .the new rates were effective february 24 , 2016 and began billing with the first billing cycle of april 2016 .in march 2016 , entergy arkansas made a compliance filing regarding the .
|
in 2016 as part of the entergy arkansas 2019s intent to implement a forward test year formula rate plan pursuant to arkansas legislation passed in 2015 , what was the ratio of the and requested a retail rate increase to the net increase
|
1.61
|
{
"answer": "1.61",
"decimal": 1.61,
"type": "float"
}
| |
notes to consolidated financial statements under the regulatory framework for prompt corrective action applicable to gs bank usa , in order to meet the quantitative requirements for being a 201cwell-capitalized 201d depository institution , gs bank usa is required to maintain a tier 1 capital ratio of at least 6% ( 6 % ) , a total capital ratio of at least 10% ( 10 % ) and a tier 1 leverage ratio of at least 5% ( 5 % ) .gs bank usa agreed with the federal reserve board to maintain minimum capital ratios in excess of these 201cwell- capitalized 201d levels .accordingly , for a period of time , gs bank usa is expected to maintain a tier 1 capital ratio of at least 8% ( 8 % ) , a total capital ratio of at least 11% ( 11 % ) and a tier 1 leverage ratio of at least 6% ( 6 % ) .as noted in the table below , gs bank usa was in compliance with these minimum capital requirements as of december 2013 and december 2012 .the table below presents information regarding gs bank usa 2019s regulatory capital ratios under basel i , as implemented by the federal reserve board .the information as of december 2013 reflects the revised market risk regulatory capital requirements , which became effective on january 1 , 2013 .these changes resulted in increased regulatory capital requirements for market risk .the information as of december 2012 is prior to the implementation of these revised market risk regulatory capital requirements. .
[['$ in millions', 'as of december 2013', 'as of december 2012'], ['tier 1 capital', '$ 20086', '$ 20704'], ['tier 2 capital', '$ 116', '$ 39'], ['total capital', '$ 20202', '$ 20743'], ['risk-weighted assets', '$ 134935', '$ 109669'], ['tier 1 capital ratio', '14.9% ( 14.9 % )', '18.9% ( 18.9 % )'], ['total capital ratio', '15.0% ( 15.0 % )', '18.9% ( 18.9 % )'], ['tier 1 leverage ratio', '16.9% ( 16.9 % )', '17.6% ( 17.6 % )']]
the revised capital framework described above is also applicable to gs bank usa , which is an advanced approach banking organization under this framework .gs bank usa has also been informed by the federal reserve board that it has completed a satisfactory parallel run , as required of advanced approach banking organizations under the revised capital framework , and therefore changes to its calculations of rwas will take effect beginning with the second quarter of 2014 .under the revised capital framework , as of january 1 , 2014 , gs bank usa became subject to a new minimum cet1 ratio requirement of 4% ( 4 % ) , increasing to 4.5% ( 4.5 % ) in 2015 .in addition , the revised capital framework changes the standards for 201cwell-capitalized 201d status under prompt corrective action regulations beginning january 1 , 2015 by , among other things , introducing a cet1 ratio requirement of 6.5% ( 6.5 % ) and increasing the tier 1 capital ratio requirement from 6% ( 6 % ) to 8% ( 8 % ) .in addition , commencing january 1 , 2018 , advanced approach banking organizations must have a supplementary leverage ratio of 3% ( 3 % ) or greater .the basel committee published its final guidelines for calculating incremental capital requirements for domestic systemically important banking institutions ( d-sibs ) .these guidelines are complementary to the framework outlined above for g-sibs .the impact of these guidelines on the regulatory capital requirements of gs bank usa will depend on how they are implemented by the banking regulators in the united states .the deposits of gs bank usa are insured by the fdic to the extent provided by law .the federal reserve board requires depository institutions to maintain cash reserves with a federal reserve bank .the amount deposited by the firm 2019s depository institution held at the federal reserve bank was approximately $ 50.39 billion and $ 58.67 billion as of december 2013 and december 2012 , respectively , which exceeded required reserve amounts by $ 50.29 billion and $ 58.59 billion as of december 2013 and december 2012 , respectively .transactions between gs bank usa and its subsidiaries and group inc .and its subsidiaries and affiliates ( other than , generally , subsidiaries of gs bank usa ) are regulated by the federal reserve board .these regulations generally limit the types and amounts of transactions ( including credit extensions from gs bank usa ) that may take place and generally require those transactions to be on market terms or better to gs bank usa .the firm 2019s principal non-u.s .bank subsidiary , gsib , is a wholly-owned credit institution , regulated by the prudential regulation authority ( pra ) and the financial conduct authority ( fca ) and is subject to minimum capital requirements .as of december 2013 and december 2012 , gsib was in compliance with all regulatory capital requirements .goldman sachs 2013 annual report 193 .
|
if risk-weighted assets held flat how much in millions would tier 1 capital have to decline for the tier 1 capital ratio to reach 8%?
|
124137
|
{
"answer": "124137",
"decimal": 124137,
"type": "float"
}
| |
net cash flows provided by operating activities of $ 704.4 million for 2016 increased $ 154.7 million from 2015 due primarily to ( 1 ) improved operating performance and ( 2 ) lower supplier payments in 2016 compared to 2015 , partially offset by ( 1 ) the impact of excess tax benefits from stock plans , primarily due to our increased stock price , and ( 2 ) an increase in accounts receivable due to increased sales , primarily in the united states .net cash flows provided by operating activities of $ 549.7 million for 2015 decreased $ 472.6 million from 2014 due primarily to ( 1 ) the $ 750.0 million upfront payment received from medtronic under a litigation settlement agreement , and ( 2 ) a higher bonus payout in 2015 associated with 2014 performance .these decreases were partially offset by ( 1 ) income tax payments of $ 224.5 million made in 2014 related to the medtronic settlement , ( 2 ) improved operating performance in 2015 , and ( 3 ) the $ 50.0 million charitable contribution made in 2014 to the edwards lifesciences foundation .net cash used in investing activities of $ 211.7 million in 2016 consisted primarily of capital expenditures of $ 176.1 million and $ 41.3 million for the acquisition of intangible assets .net cash used in investing activities of $ 316.1 million in 2015 consisted primarily of a $ 320.1 million net payment associated with the acquisition of cardiaq , and capital expenditures of $ 102.7 million , partially offset by net proceeds from investments of $ 119.6 million .net cash used in investing activities of $ 633.0 million in 2014 consisted primarily of net purchases of investments of $ 527.4 million and capital expenditures of $ 82.9 million .net cash used in financing activities of $ 268.5 million in 2016 consisted primarily of purchases of treasury stock of $ 662.3 million , partially offset by ( 1 ) net proceeds from the issuance of debt of $ 222.1 million , ( 2 ) proceeds from stock plans of $ 103.3 million , and ( 3 ) the excess tax benefit from stock plans of $ 64.3 million .net cash used in financing activities of $ 158.6 million in 2015 consisted primarily of purchases of treasury stock of $ 280.1 million , partially offset by ( 1 ) proceeds from stock plans of $ 87.2 million , and ( 2 ) the excess tax benefit from stock plans of $ 41.3 million .net cash used in financing activities of $ 153.0 million in 2014 consisted primarily of purchases of treasury stock of $ 300.9 million , partially offset by ( 1 ) proceeds from stock plans of $ 113.3 million , and ( 2 ) the excess tax benefit from stock plans of $ 49.4 million ( including the realization of previously unrealized excess tax benefits ) .a summary of all of our contractual obligations and commercial commitments as of december 31 , 2016 were as follows ( in millions ) : .
[['contractual obligations', 'payments due by period total', 'payments due by period less than1 year', 'payments due by period 1-3years', 'payments due by period 4-5years', 'payments due by period after 5years'], ['debt', '$ 825.0', '$ 2014', '$ 825.0', '$ 2014', '$ 2014'], ['operating leases', '72.6', '22.3', '24.9', '8.8', '16.6'], ['interest on debt', '30.8', '16.4', '14.4', '2014', '2014'], ['pension obligations ( a )', '6.1', '6.1', '2014', '2014', '2014'], ['capital commitment obligations ( b )', '0.6', '0.3', '0.3', '2014', '2014'], ['purchase and other commitments', '16.4', '13.7', '2.7', '2014', '2014'], ['total contractual cash obligations ( c ) ( d )', '$ 951.5', '$ 58.8', '$ 867.3', '$ 8.8', '$ 16.6']]
( a ) the amount included in 2018 2018less than 1 year 2019 2019 reflects anticipated contributions to our various pension plans .anticipated contributions beyond one year are not determinable .the total accrued benefit liability for our pension plans recognized as of december 31 , 2016 was $ 50.1 million .this amount is impacted .
|
what percentage of total contractual cash obligations is operating leases?
|
8%
|
{
"answer": "8%",
"decimal": 0.08,
"type": "percentage"
}
| |
investment tax credits have been deferred by the regulated utility subsidiaries and are being amortized to income over the average estimated service lives of the related assets .the company recognizes accrued interest and penalties related to tax positions as a component of income tax expense and accounts for sales tax collected from customers and remitted to taxing authorities on a net basis .see note 14 2014income taxes for additional information .allowance for funds used during construction afudc is a non-cash credit to income with a corresponding charge to utility plant that represents the cost of borrowed funds or a return on equity funds devoted to plant under construction .the regulated utility subsidiaries record afudc to the extent permitted by the pucs .the portion of afudc attributable to borrowed funds is shown as a reduction of interest , net on the consolidated statements of operations .any portion of afudc attributable to equity funds would be included in other , net on the consolidated statements of operations .afudc is provided in the following table for the years ended december 31: .
[['', '2018', '2017', '2016'], ['allowance for other funds used during construction', '$ 24', '$ 19', '$ 15'], ['allowance for borrowed funds used during construction', '13', '8', '6']]
environmental costs the company 2019s water and wastewater operations and the operations of its market-based businesses are subject to u.s .federal , state , local and foreign requirements relating to environmental protection , and as such , the company periodically becomes subject to environmental claims in the normal course of business .environmental expenditures that relate to current operations or provide a future benefit are expensed or capitalized as appropriate .remediation costs that relate to an existing condition caused by past operations are accrued , on an undiscounted basis , when it is probable that these costs will be incurred and can be reasonably estimated .a conservation agreement entered into by a subsidiary of the company with the national oceanic and atmospheric administration in 2010 and amended in 2017 required the subsidiary to , among other provisions , implement certain measures to protect the steelhead trout and its habitat in the carmel river watershed in the state of california .the subsidiary agreed to pay $ 1 million annually commencing in 2010 with the final payment being made in 2021 .remediation costs accrued amounted to $ 4 million and $ 6 million as of december 31 , 2018 and 2017 , respectively .derivative financial instruments the company uses derivative financial instruments for purposes of hedging exposures to fluctuations in interest rates .these derivative contracts are entered into for periods consistent with the related underlying exposures and do not constitute positions independent of those exposures .the company does not enter into derivative contracts for speculative purposes and does not use leveraged instruments .all derivatives are recognized on the balance sheet at fair value .on the date the derivative contract is entered into , the company may designate the derivative as a hedge of the fair value of a recognized asset or liability ( fair-value hedge ) or a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability ( cash-flow hedge ) .changes in the fair value of a fair-value hedge , along with the gain or loss on the underlying hedged item , are recorded in current-period earnings .the gains and losses on the effective portion of cash-flow hedges are recorded in other comprehensive income , until earnings are affected by the variability of cash flows .any ineffective portion of designated cash-flow hedges is recognized in current-period earnings. .
|
what was 2018 allowance for borrowed funds used during construction as a percentage of allowance for other funds used during construction?
|
54.2%
|
{
"answer": "54.2%",
"decimal": 0.542,
"type": "percentage"
}
| |
management 2019s discussion and analysis 138 jpmorgan chase & co./2013 annual report the credit derivatives used in credit portfolio management activities do not qualify for hedge accounting under u.s .gaap ; these derivatives are reported at fair value , with gains and losses recognized in principal transactions revenue .in contrast , the loans and lending-related commitments being risk-managed are accounted for on an accrual basis .this asymmetry in accounting treatment , between loans and lending-related commitments and the credit derivatives used in credit portfolio management activities , causes earnings volatility that is not representative , in the firm 2019s view , of the true changes in value of the firm 2019s overall credit exposure .the effectiveness of the firm 2019s credit default swap ( 201ccds 201d ) protection as a hedge of the firm 2019s exposures may vary depending on a number of factors , including the named reference entity ( i.e. , the firm may experience losses on specific exposures that are different than the named reference entities in the purchased cds ) , and the contractual terms of the cds ( which may have a defined credit event that does not align with an actual loss realized by the firm ) and the maturity of the firm 2019s cds protection ( which in some cases may be shorter than the firm 2019s exposures ) .however , the firm generally seeks to purchase credit protection with a maturity date that is the same or similar to the maturity date of the exposure for which the protection was purchased , and remaining differences in maturity are actively monitored and managed by the firm .credit portfolio hedges the following table sets out the fair value related to the firm 2019s credit derivatives used in credit portfolio management activities , the fair value related to the cva ( which reflects the credit quality of derivatives counterparty exposure ) , as well as certain other hedges used in the risk management of cva .these results can vary from period-to- period due to market conditions that affect specific positions in the portfolio .net gains and losses on credit portfolio hedges year ended december 31 , ( in millions ) 2013 2012 2011 hedges of loans and lending- related commitments $ ( 142 ) $ ( 163 ) $ ( 32 ) .
[['year ended december 31 ( in millions )', '2013', '2012', '2011'], ['hedges of loans and lending-related commitments', '$ -142 ( 142 )', '$ -163 ( 163 )', '$ -32 ( 32 )'], ['cva and hedges of cva', '-130 ( 130 )', '127', '-769 ( 769 )'], ['net gains/ ( losses )', '$ -272 ( 272 )', '$ -36 ( 36 )', '$ -801 ( 801 )']]
community reinvestment act exposure the community reinvestment act ( 201ccra 201d ) encourages banks to meet the credit needs of borrowers in all segments of their communities , including neighborhoods with low or moderate incomes .the firm is a national leader in community development by providing loans , investments and community development services in communities across the united states .at december 31 , 2013 and 2012 , the firm 2019s cra loan portfolio was approximately $ 18 billion and $ 16 billion , respectively .at december 31 , 2013 and 2012 , 50% ( 50 % ) and 62% ( 62 % ) , respectively , of the cra portfolio were residential mortgage loans ; 26% ( 26 % ) and 13% ( 13 % ) , respectively , were commercial real estate loans ; 16% ( 16 % ) and 18% ( 18 % ) , respectively , were business banking loans ; and 8% ( 8 % ) and 7% ( 7 % ) , respectively , were other loans .cra nonaccrual loans were 3% ( 3 % ) and 4% ( 4 % ) , respectively , of the firm 2019s total nonaccrual loans .for the years ended december 31 , 2013 and 2012 , net charge-offs in the cra portfolio were 1% ( 1 % ) and 3% ( 3 % ) , respectively , of the firm 2019s net charge-offs in both years. .
|
in 2013 what was the percent of the total hedges of loans and lending- related commitments that was cva and hedges of cva
|
48%
|
{
"answer": "48%",
"decimal": 0.48,
"type": "percentage"
}
| |
the net decrease in the 2016 effective tax rate was due , in part , to the 2016 asset impairments in the u.s .and to the current year benefit related to a restructuring of one of our brazilian businesses that increases tax basis in long-term assets .further , the 2015 rate was impacted by the items described below .see note 20 2014asset impairment expense for additional information regarding the 2016 u.s .asset impairments .income tax expense increased $ 101 million , or 27% ( 27 % ) , to $ 472 million in 2015 .the company's effective tax rates were 41% ( 41 % ) and 26% ( 26 % ) for the years ended december 31 , 2015 and 2014 , respectively .the net increase in the 2015 effective tax rate was due , in part , to the nondeductible 2015 impairment of goodwill at our u.s .utility , dp&l and chilean withholding taxes offset by the release of valuation allowance at certain of our businesses in brazil , vietnam and the u.s .further , the 2014 rate was impacted by the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin aes pte ltd. , which owns the company 2019s business interests in the philippines and the 2014 sale of the company 2019s interests in four u.k .wind operating projects .neither of these transactions gave rise to income tax expense .see note 15 2014equity for additional information regarding the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin-aes pte ltd .see note 23 2014dispositions for additional information regarding the sale of the company 2019s interests in four u.k .wind operating projects .our effective tax rate reflects the tax effect of significant operations outside the u.s. , which are generally taxed at rates lower than the u.s .statutory rate of 35% ( 35 % ) .a future proportionate change in the composition of income before income taxes from foreign and domestic tax jurisdictions could impact our periodic effective tax rate .the company also benefits from reduced tax rates in certain countries as a result of satisfying specific commitments regarding employment and capital investment .see note 21 2014income taxes for additional information regarding these reduced rates .foreign currency transaction gains ( losses ) foreign currency transaction gains ( losses ) in millions were as follows: .
[['years ended december 31,', '2016', '2015', '2014'], ['aes corporation', '$ -50 ( 50 )', '$ -31 ( 31 )', '$ -34 ( 34 )'], ['chile', '-9 ( 9 )', '-18 ( 18 )', '-30 ( 30 )'], ['colombia', '-8 ( 8 )', '29', '17'], ['mexico', '-8 ( 8 )', '-6 ( 6 )', '-14 ( 14 )'], ['philippines', '12', '8', '11'], ['united kingdom', '13', '11', '12'], ['argentina', '37', '124', '66'], ['other', '-2 ( 2 )', '-10 ( 10 )', '-17 ( 17 )'], ['total ( 1 )', '$ -15 ( 15 )', '$ 107', '$ 11']]
total ( 1 ) $ ( 15 ) $ 107 $ 11 _____________________________ ( 1 ) includes gains of $ 17 million , $ 247 million and $ 172 million on foreign currency derivative contracts for the years ended december 31 , 2016 , 2015 and 2014 , respectively .the company recognized a net foreign currency transaction loss of $ 15 million for the year ended december 31 , 2016 primarily due to losses of $ 50 million at the aes corporation mainly due to remeasurement losses on intercompany notes , and losses on swaps and options .this loss was partially offset by gains of $ 37 million in argentina , mainly due to the favorable impact of foreign currency derivatives related to government receivables .the company recognized a net foreign currency transaction gain of $ 107 million for the year ended december 31 , 2015 primarily due to gains of : 2022 $ 124 million in argentina , due to the favorable impact from foreign currency derivatives related to government receivables , partially offset by losses from the devaluation of the argentine peso associated with u.s .dollar denominated debt , and losses at termoandes ( a u.s .dollar functional currency subsidiary ) primarily associated with cash and accounts receivable balances in local currency , 2022 $ 29 million in colombia , mainly due to the depreciation of the colombian peso , positively impacting chivor ( a u.s .dollar functional currency subsidiary ) due to liabilities denominated in colombian pesos , 2022 $ 11 million in the united kingdom , mainly due to the depreciation of the pound sterling , resulting in gains at ballylumford holdings ( a u.s .dollar functional currency subsidiary ) associated with intercompany notes payable denominated in pound sterling , and .
|
what was the change in millions between 2014 and 2015 of foreign currency transaction gains ( losses ) for aes corporation?
|
3
|
{
"answer": "3",
"decimal": 3,
"type": "float"
}
| |
certain options to purchase shares of devon 2019s common stock were excluded from the dilution calculations because the options were antidilutive .these excluded options totaled 2 million , 3 million and 0.2 million in 2007 , 2006 and 2005 , respectively .foreign currency translation adjustments the u.s .dollar is the functional currency for devon 2019s consolidated operations except its canadian subsidiaries , which use the canadian dollar as the functional currency .therefore , the assets and liabilities of devon 2019s canadian subsidiaries are translated into u.s .dollars based on the current exchange rate in effect at the balance sheet dates .canadian income and expenses are translated at average rates for the periods presented .translation adjustments have no effect on net income and are included in accumulated other comprehensive income in stockholders 2019 equity .the following table presents the balances of devon 2019s cumulative translation adjustments included in accumulated other comprehensive income ( in millions ) . .
[['december 31 2004', '$ 1054'], ['december 31 2005', '$ 1216'], ['december 31 2006', '$ 1219'], ['december 31 2007', '$ 2566']]
statements of cash flows for purposes of the consolidated statements of cash flows , devon considers all highly liquid investments with original contractual maturities of three months or less to be cash equivalents .commitments and contingencies liabilities for loss contingencies arising from claims , assessments , litigation or other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated .liabilities for environmental remediation or restoration claims are recorded when it is probable that obligations have been incurred and the amounts can be reasonably estimated .expenditures related to such environmental matters are expensed or capitalized in accordance with devon 2019s accounting policy for property and equipment .reference is made to note 8 for a discussion of amounts recorded for these liabilities .recently issued accounting standards not yet adopted in december 2007 , the financial accounting standards board ( 201cfasb 201d ) issued statement of financial accounting standards no .141 ( r ) , business combinations , which replaces statement no .141 .statement no .141 ( r ) retains the fundamental requirements of statement no .141 that an acquirer be identified and the acquisition method of accounting ( previously called the purchase method ) be used for all business combinations .statement no .141 ( r ) 2019s scope is broader than that of statement no .141 , which applied only to business combinations in which control was obtained by transferring consideration .by applying the acquisition method to all transactions and other events in which one entity obtains control over one or more other businesses , statement no .141 ( r ) improves the comparability of the information about business combinations provided in financial reports .statement no .141 ( r ) establishes principles and requirements for how an acquirer recognizes and measures identifiable assets acquired , liabilities assumed and any noncontrolling interest in the acquiree , as well as any resulting goodwill .statement no .141 ( r ) applies prospectively to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after december 15 , 2008 .devon will evaluate how the new requirements of statement no .141 ( r ) would impact any business combinations completed in 2009 or thereafter .in december 2007 , the fasb also issued statement of financial accounting standards no .160 , noncontrolling interests in consolidated financial statements 2014an amendment of accounting research bulletin no .51 .a noncontrolling interest , sometimes called a minority interest , is the portion of equity in a subsidiary not attributable , directly or indirectly , to a parent .statement no .160 establishes accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary .under statement no .160 , noncontrolling interests in a subsidiary must be reported as a component of consolidated equity separate from the parent 2019s equity .additionally , the amounts of consolidated net income attributable to both the parent and the noncontrolling interest must be reported separately on the face of the income statement .statement no .160 is effective for fiscal years beginning on or after december 15 , 2008 and earlier adoption is prohibited .devon does not expect the adoption of statement no .160 to have a material impact on its financial statements and related disclosures. .
|
what was the ratio of the devon 2019s cumulative translation adjustments included in accumulated other comprehensive income for 2005 to 2004
|
1.2
|
{
"answer": "1.2",
"decimal": 1.2,
"type": "float"
}
|
there was $ 1.2 included in accumulated other comprehensive income of translation adjustments compared to $ 1 in 2004
|
year ended december 31 , 2006 compared to year ended december 31 , 2005 net revenues increased $ 149.6 million , or 53.2% ( 53.2 % ) , to $ 430.7 million in 2006 from $ 281.1 million in 2005 .this increase was the result of increases in both our net sales and license revenues as noted in the product category table below. .
[['( in thousands )', 'year ended december 31 , 2006', 'year ended december 31 , 2005', 'year ended december 31 , $ change', 'year ended december 31 , % ( % ) change'], ['men 2019s', '$ 255681', '$ 189596', '$ 66085', '34.9% ( 34.9 % )'], ['women 2019s', '85695', '53500', '32195', '60.2% ( 60.2 % )'], ['youth', '31845', '18784', '13061', '69.5% ( 69.5 % )'], ['apparel', '373221', '261880', '111341', '42.5% ( 42.5 % )'], ['footwear', '26874', '2014', '26874', '2014'], ['accessories', '14897', '9409', '5488', '58.3% ( 58.3 % )'], ['total net sales', '414992', '271289', '143703', '53.0% ( 53.0 % )'], ['license revenues', '15697', '9764', '5933', '60.8% ( 60.8 % )'], ['total net revenues', '$ 430689', '$ 281053', '$ 149636', '53.2% ( 53.2 % )']]
net sales increased $ 143.7 million , or 53.0% ( 53.0 % ) , to $ 415.0 million for the year ended december 31 , 2006 from $ 271.3 million during the same period in 2005 as noted in the table above .the increase in net sales primarily reflects : 2022 $ 26.9 million of footwear product sales , primarily football cleats introduced in the second quarter of 2006 , and baseball cleats introduced in the fourth quarter of 2006 ; 2022 continued unit volume growth of our existing products , such as coldgear ae compression products , primarily sold to existing retail customers due to additional retail stores and expanded floor space ; 2022 growth in the average selling price of apparel products within all categories ; 2022 increased women 2019s and youth market penetration by leveraging current customer relationships ; and 2022 product introductions subsequent to december 31 , 2005 within all product categories , most significantly in our compression and training products .license revenues increased $ 5.9 million , or 60.8% ( 60.8 % ) , to $ 15.7 million for the year ended december 31 , 2006 from $ 9.8 million during the same period in 2005 .this increase in license revenues was a result of increased sales by our licensees due to increased distribution , continued unit volume growth , new product offerings and new licensing agreements , which included distribution of products to college bookstores and golf pro shops .gross profit increased $ 79.7 million to $ 215.6 million in 2006 from $ 135.9 million in 2005 .gross profit as a percentage of net revenues , or gross margin , increased approximately 180 basis points to 50.1% ( 50.1 % ) in 2006 from 48.3% ( 48.3 % ) in 2005 .this increase in gross margin was primarily driven by the following : 2022 lower product costs as a result of variations in product mix and greater supplier discounts for increased volume and lower cost sourcing arrangements , accounting for an approximate 170 basis point increase ; 2022 decreased close-out sales in the 2006 period compared to the 2005 period , accounting for an approximate 70 basis point increase ; 2022 lower customer incentives as a percentage of net revenues , primarily driven by changes to certain customer agreements which decreased discounts while increasing certain customer marketing expenditures recorded in selling , general and administrative expenses , accounting for an approximate 70 basis point increase; .
|
in 2006 what was the percent of the total net revenues by product category from men
|
59.4%
|
{
"answer": "59.4%",
"decimal": 0.594,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) future minimum rental receipts expected from customers under non-cancelable operating lease agreements in effect at december 31 , 2006 are as follows ( in thousands ) : year ending december 31 .
[['2007', '$ 1131677'], ['2008', '1127051'], ['2009', '1091778'], ['2010', '959828'], ['2011', '769028'], ['thereafter', '2305040'], ['total', '$ 7384402']]
legal and governmental proceedings related to review of stock option granting practices and related accounting 2014on may 18 , 2006 , the company received a letter of informal inquiry from the sec division of enforcement requesting documents related to company stock option grants and stock option practices .the inquiry is focused on stock options granted to senior management and members of the company 2019s board of directors during the period 1997 to the present .the company continues to cooperate with the sec to provide the requested information and documents .on may 19 , 2006 , the company received a subpoena from the united states attorney 2019s office for the eastern district of new york for records and information relating to its stock option granting practices .the subpoena requests materials related to certain stock options granted between 1995 and the present .the company continues to cooperate with the u.s .attorney 2019s office to provide the requested information and documents .on may 26 , 2006 , a securities class action was filed in united states district court for the district of massachusetts against the company and certain of its current officers by john s .greenebaum for monetary relief .specifically , the complaint names the company , james d .taiclet , jr .and bradley e .singer as defendants and alleges that the defendants violated federal securities laws in connection with public statements made relating to the company 2019s stock option practices and related accounting .the complaint asserts claims under sections 10 ( b ) and 20 ( a ) of the securities exchange act of 1934 , as amended ( exchange act ) and sec rule 10b-5 .in december 2006 , the court appointed the steamship trade association-international longshoreman 2019s association pension fund as the lead plaintiff .on may 24 , 2006 and june 14 , 2006 , two shareholder derivative lawsuits were filed in suffolk county superior court in massachusetts by eric johnston and robert l .garber , respectively .the lawsuits were filed against certain of the company 2019s current and former officers and directors for alleged breaches of fiduciary duties and unjust enrichment in connection with the company 2019s stock option granting practices .the lawsuits also name the company as a nominal defendant .the lawsuits seek to recover the damages sustained by the company and disgorgement of all profits received with respect to the alleged backdated stock options .in october 2006 , these two lawsuits were consolidated and transferred to the court 2019s business litigation session .on june 13 , 2006 , june 22 , 2006 and august 23 , 2006 , three shareholder derivative lawsuits were filed in united states district court for the district of massachusetts by new south wales treasury corporation , as trustee for the alpha international managers trust , frank c .kalil and don holland , and leslie cramer , respectively .the lawsuits were filed against certain of the company 2019s current and former officers and directors for alleged breaches of fiduciary duties , waste of corporate assets , gross mismanagement and unjust enrichment in connection with the company 2019s stock option granting practices .the lawsuits also name the company as a nominal defendant .in december 2006 , the court consolidated these three lawsuits and appointed new south wales treasury corporation as the lead plaintiff .on february 9 , 2007 , the plaintiffs filed a consolidated .
|
what portion of the total future minimum rental receipts is expected to be collected in the next 12 months?
|
15.3%
|
{
"answer": "15.3%",
"decimal": 0.153,
"type": "percentage"
}
| |
future minimum lease commitments for office premises and equipment under non-cancelable leases , along with minimum sublease rental income to be received under non-cancelable subleases , are as follows : period rent obligations sublease rental income net rent .
[['period', 'rent obligations', 'sublease rental income', 'net rent'], ['2008', '$ 323.9', '$ -40.9 ( 40.9 )', '$ 283.0'], ['2009', '300.9', '-37.5 ( 37.5 )', '263.4'], ['2010', '267.7', '-31.0 ( 31.0 )', '236.7'], ['2011', '233.7', '-25.7 ( 25.7 )', '208.0'], ['2012', '197.9', '-20.2 ( 20.2 )', '177.7'], ['2013 and thereafter', '871.0', '-33.1 ( 33.1 )', '837.9'], ['total', '$ 2195.1', '$ -188.4 ( 188.4 )', '$ 2006.7']]
guarantees we have certain contingent obligations under guarantees of certain of our subsidiaries ( 201cparent company guarantees 201d ) relating principally to credit facilities , guarantees of certain media payables and operating leases .the amount of such parent company guarantees was $ 327.1 and $ 327.9 as of december 31 , 2007 and 2006 , 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 , 2007 , there are no material assets pledged as security for such parent company guarantees .contingent acquisition obligations we have structured certain acquisitions with additional contingent purchase price obligations in order to reduce the potential risk associated with negative future performance of the acquired entity .in addition , we have entered into agreements that may require us to purchase additional equity interests in certain consolidated and unconsolidated subsidiaries .the amounts relating to these transactions are based on estimates of the future financial performance of the acquired entity , the timing of the exercise of these rights , changes in foreign currency exchange rates and other factors .we have not recorded a liability for these items since the definitive amounts payable are not determinable or distributable .when the contingent acquisition obligations have been met and consideration is determinable and distributable , we record the fair value of this consideration as an additional cost of the acquired entity .however , we recognize deferred payments and purchases of additional interests after the effective date of purchase that are contingent upon the future employment of owners as compensation expense .compensation expense is determined based on the terms and conditions of the respective acquisition agreements and employment terms of the former owners of the acquired businesses .this future expense will not be allocated to the assets and liabilities acquired and is amortized over the required employment terms of the former owners .the following table details the estimated liability with respect to our contingent acquisition obligations and the estimated amount that would be paid under the options , in the event of exercise at the earliest exercise date .all payments are contingent upon achieving projected operating performance targets and satisfying other notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) .
|
what portion of total rent obligations will be paid-off through sublease rental income?
|
8.6%
|
{
"answer": "8.6%",
"decimal": 0.086,
"type": "percentage"
}
| |
14 .stock compensation plans the following table summarizes stock-based compensation expense recognized in continuing operations in the consolidated statements of income in compensation and benefits ( in millions ) : .
[['years ended december 31', '2009', '2008', '2007'], ['rsus', '$ 124', '$ 132', '$ 109'], ['performance plans', '60', '67', '54'], ['stock options', '21', '24', '22'], ['employee stock purchase plans', '4', '3', '3'], ['total stock-based compensation expense', '209', '226', '188'], ['tax benefit', '68', '82', '64'], ['stock-based compensation expense net of tax', '$ 141', '$ 144', '$ 124']]
during 2009 , the company converted its stock administration system to a new service provider .in connection with this conversion , a reconciliation of the methodologies and estimates utilized was performed , which resulted in a $ 12 million reduction of expense for the year ended december 31 , 2009 .stock awards stock awards , in the form of rsus , are granted to certain employees and consist of both performance-based and service-based rsus .service-based awards generally vest between three and ten years from the date of grant .the fair value of service-based awards is based upon the market price of the underlying common stock at the date of grant .with certain limited exceptions , any break in continuous employment will cause the forfeiture of all unvested awards .compensation expense associated with stock awards is recognized over the service period using the straight-line method .dividend equivalents are paid on certain service-based rsus , based on the initial grant amount .at december 31 , 2009 , 2008 and 2007 , the number of shares available for stock awards is included with options available for grant .performance-based rsus have been granted to certain employees .vesting of these awards is contingent upon meeting various individual , divisional or company-wide performance conditions , including revenue generation or growth in revenue , pretax income or earnings per share over a one- to five-year period .the performance conditions are not considered in the determination of the grant date fair value for these awards .the fair value of performance-based awards is based upon the market price of the underlying common stock at the date of grant .compensation expense is recognized over the performance period , and in certain cases an additional vesting period , based on management 2019s estimate of the number of units expected to vest .compensation expense is adjusted to reflect the actual number of shares paid out at the end of the programs .the payout of shares under these performance-based plans may range from 0-200% ( 0-200 % ) of the number of units granted , based on the plan .dividend equivalents are generally not paid on the performance-based rsus .during 2009 , the company granted approximately 2 million shares in connection with the completion of the 2006 leadership performance plan ( 2018 2018lpp 2019 2019 ) cycle .during 2009 , 2008 and 2007 , the company granted approximately 3.7 million , 4.2 million and 4.3 million restricted shares , respectively , in connection with the company 2019s incentive compensation plans. .
|
what is the average tax benefit , in millions?
|
71.33
|
{
"answer": "71.33",
"decimal": 71.33,
"type": "float"
}
|
it is the sum of all tax benefits divided by three .
|
asia-pacific acquisition on july 24 , 2006 , we completed the purchase of a fifty-six percent ownership interest in the merchant acquiring business of the hongkong and shanghai banking corporation limited , or hsbc .this business provides card payment processing services to merchants in the asia-pacific region .the business includes hsbc 2019s payment processing operations in the following ten countries and territories : brunei , china , hong kong , india , macau , malaysia , maldives , singapore , sri lanka and taiwan .under the terms of the agreement , we initially paid hsbc $ 67.2 million in cash to acquire our ownership interest .we paid an additional $ 1.4 million under this agreement during fiscal 2007 , for a total purchase price of $ 68.6 million to acquire our ownership interest .in conjunction with this acquisition , we entered into a transition services agreement with hsbc that may be terminated at any time .under this agreement , we expect hsbc will continue to perform payment processing operations and related support services until we integrate these functions into our own operations , which we expect will be completed in 2010 .the operating results of this acquisition are included in our consolidated statements of income from the date of the acquisition .business description we are a leading payment processing and consumer money transfer company .as a high-volume processor of electronic transactions , we enable merchants , multinational corporations , financial institutions , consumers , government agencies and other profit and non-profit business enterprises to facilitate payments to purchase goods and services or further other economic goals .our role is to serve as an intermediary in the exchange of information and funds that must occur between parties so that a payment transaction or money transfer can be completed .we were incorporated in georgia as global payments inc .in september 2000 , and we spun-off from our former parent company on january 31 , 2001 .including our time as part of our former parent company , we have provided transaction processing services since 1967 .we market our products and services throughout the united states , canada , europe and the asia-pacific region .we operate in two business segments , merchant services and money transfer , and we offer various products through these segments .our merchant services segment targets customers in many vertical industries including financial institutions , gaming , government , health care , professional services , restaurants , retail , universities and utilities .our money transfer segment primarily targets immigrants in the united states and europe .see note 10 in the notes to consolidated financial statements for additional segment information and 201citem 1a 2014risk factors 201d for a discussion of risks involved with our international operations .total revenues from our merchant services and money transfer segments , by geography and sales channel , are as follows ( amounts in thousands ) : .
[['', '2007', '2006', '2005'], ['domestic direct', '$ 558026', '$ 481273', '$ 410047'], ['canada', '224570', '208126', '175190'], ['asia-pacific', '48449', '2014', '2014'], ['central and eastern europe', '51224', '47114', '40598'], ['domestic indirect and other', '46873', '51987', '62033'], ['merchant services', '929142', '788500', '687868'], ['domestic', '115416', '109067', '91448'], ['europe', '16965', '10489', '5015'], ['money transfer', '132381', '119556', '96463'], ['total revenues', '$ 1061523', '$ 908056', '$ 784331']]
.
|
what percent of total revenues was represented by merchant services in 2006?
|
87%
|
{
"answer": "87%",
"decimal": 0.87,
"type": "percentage"
}
| |
abiomed , inc .and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 3 .acquisitions ( continued ) including the revenues of third-party licensees , or ( ii ) the company 2019s sale of ( a ) ecp , ( b ) all or substantially all of ecp 2019s assets , or ( c ) certain of ecp 2019s patent rights , the company will pay to syscore the lesser of ( x ) one-half of the profits earned from such sale described in the foregoing item ( ii ) , after accounting for the costs of acquiring and operating ecp , or ( y ) $ 15.0 million ( less any previous milestone payment ) .ecp 2019s acquisition of ais gmbh aachen innovative solutions in connection with the company 2019s acquisition of ecp , ecp acquired all of the share capital of ais gmbh aachen innovative solutions ( 201cais 201d ) , a limited liability company incorporated in germany , pursuant to a share purchase agreement dated as of june 30 , 2014 , by and among ecp and ais 2019s four individual shareholders .ais , based in aachen , germany , holds certain intellectual property useful to ecp 2019s business , and , prior to being acquired by ecp , had licensed such intellectual property to ecp .the purchase price for the acquisition of ais 2019s share capital was approximately $ 2.8 million in cash , which was provided by the company , and the acquisition closed immediately prior to abiomed europe 2019s acquisition of ecp .the share purchase agreement contains representations , warranties and closing conditions customary for transactions of its size and nature .purchase price allocation the acquisition of ecp and ais was accounted for as a business combination .the purchase price for the acquisition has been allocated to the assets acquired and liabilities assumed based on their estimated fair values .the acquisition-date fair value of the consideration transferred is as follows : acquisition date fair value ( in thousands ) .
[['', 'total acquisition date fair value ( in thousands )'], ['cash consideration', '$ 15750'], ['contingent consideration', '6000'], ['total consideration transferred', '$ 21750']]
.
|
for the ecp and ais transactions , what portion of the total consideration was paid immediately in cash?
|
72.4%
|
{
"answer": "72.4%",
"decimal": 0.7240000000000001,
"type": "percentage"
}
| |
restricted unit awards in 2010 and 2009 , the hartford issued restricted units as part of the hartford 2019s 2005 stock plan .restricted stock unit awards under the plan have historically been settled in shares , but under this award will be settled in cash and are thus referred to as 201crestricted units 201d .the economic value recipients will ultimately realize will be identical to the value that would have been realized if the awards had been settled in shares , i.e. , upon settlement , recipients will receive cash equal to the hartford 2019s share price multiplied by the number of restricted units awarded .because restricted units will be settled in cash , the awards are remeasured at the end of each reporting period until settlement .awards granted in 2009 vested after a three year period .awards granted in 2010 include both graded and cliff vesting restricted units which vest over a three year period .the graded vesting attribution method is used to recognize the expense of the award over the requisite service period .for example , the graded vesting attribution method views one three-year grant with annual graded vesting as three separate sub-grants , each representing one third of the total number of awards granted .the first sub-grant vests over one year , the second sub-grant vests over two years and the third sub-grant vests over three years .there were no restricted units awarded for 2013 or 2012 .as of december 31 , 2013 and 2012 , 27 thousand and 832 thousand restricted units were outstanding , respectively .deferred stock unit plan effective july 31 , 2009 , the compensation and management development committee of the board authorized the hartford deferred stock unit plan ( 201cdeferred stock unit plan 201d ) , and , on october 22 , 2009 , it was amended .the deferred stock unit plan provides for contractual rights to receive cash payments based on the value of a specified number of shares of stock .the deferred stock unit plan provides for two award types , deferred units and restricted units .deferred units are earned ratably over a year , based on the number of regular pay periods occurring during such year .deferred units are credited to the participant's account on a quarterly basis based on the market price of the company 2019s common stock on the date of grant and are fully vested at all times .deferred units credited to employees prior to january 1 , 2010 ( other than senior executive officers hired on or after october 1 , 2009 ) are not paid until after two years from their grant date .deferred units credited on or after january 1 , 2010 ( and any credited to senior executive officers hired on or after october 1 , 2009 ) are paid in three equal installments after the first , second and third anniversaries of their grant date .restricted units are intended to be incentive compensation and , unlike deferred units , vest over time , generally three years , and are subject to forfeiture .the deferred stock unit plan is structured consistent with the limitations and restrictions on employee compensation arrangements imposed by the emergency economic stabilization act of 2008 and the tarp standards for compensation and corporate governance interim final rule issued by the u.s .department of treasury on june 10 , 2009 .there were no deferred stock units awarded in 2013 or 2012 .a summary of the status of the company 2019s non-vested awards under the deferred stock unit plan as of december 31 , 2013 , is presented below : non-vested units restricted units ( in thousands ) weighted-average grant-date fair value .
[['non-vested units', 'restricted units ( in thousands )', 'weighted-average grant-date fair value'], ['non-vested at beginning of year', '309', '25.08'], ['granted', '2014', '2014'], ['vested', '-306 ( 306 )', '25.04'], ['forfeited', '-3 ( 3 )', '28.99'], ['non-vested at end of year', '2014', '$ 2014']]
subsidiary stock plan in 2013 the hartford established a subsidiary stock-based compensation plan similar to the hartford 2010 incentive stock plan except that it awards non-public subsidiary stock as compensation .the company recognized stock-based compensation plans expense of $ 1 in the year ended december 31 , 2013 for the subsidiary stock plan .upon employee vesting of subsidiary stock , the company will recognize a noncontrolling equity interest .employees will be restricted from selling vested subsidiary stock to other than the company and the company will have discretion on the amount of stock to repurchase .therefore the subsidiary stock will be classified as equity because it is not mandatorily redeemable .table of contents the hartford financial services group , inc .notes to consolidated financial statements ( continued ) 19 .stock compensation plans ( continued ) .
|
what is the total value of the forfeited units?
|
86.97
|
{
"answer": "86.97",
"decimal": 86.97,
"type": "float"
}
| |
interest rate derivatives .in connection with the issuance of floating rate debt in august and october 2008 , the company entered into three interest rate swap contracts , designated as cash flow hedges , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate .in december 2010 , the company approved a plan to refinance the term loan in january 2011 resulting in an $ 8.6 million loss on derivative instruments as a result of ineffectiveness on the associated interest rate swap contract .to mitigate counterparty credit risk , the interest rate swap contracts required collateralization by both counterparties for the swaps 2019 aggregate net fair value during their respective terms .collateral was maintained in the form of cash and adjusted on a daily basis .in february 2010 , the company entered into a forward starting interest rate swap contract , designated as a cash flow hedge , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate between the date of the swap and the forecasted issuance of fixed rate debt in march 2010 .the swap was highly effective .foreign currency derivatives .in connection with its purchase of bm&fbovespa stock in february 2008 , cme group purchased a put option to hedge against changes in the fair value of bm&fbovespa stock resulting from foreign currency rate fluctuations between the u.s .dollar and the brazilian real ( brl ) beyond the option 2019s exercise price .lehman brothers special financing inc .( lbsf ) was the sole counterparty to this option contract .on september 15 , 2008 , lehman brothers holdings inc .( lehman ) filed for protection under chapter 11 of the united states bankruptcy code .the bankruptcy filing of lehman was an event of default that gave the company the right to immediately terminate the put option agreement with lbsf .in march 2010 , the company recognized a $ 6.0 million gain on derivative instruments as a result of a settlement from the lehman bankruptcy proceedings .21 .capital stock shares outstanding .the following table presents information regarding capital stock: .
[['( in thousands )', 'december 31 , 2010', 'december 31 , 2009'], ['shares authorized', '1000000', '1000000'], ['class a common stock', '66847', '66511'], ['class b-1 common stock', '0.6', '0.6'], ['class b-2 common stock', '0.8', '0.8'], ['class b-3 common stock', '1.3', '1.3'], ['class b-4 common stock', '0.4', '0.4']]
cme group has no shares of preferred stock issued and outstanding .associated trading rights .members of cme , cbot , nymex and comex own or lease trading rights which entitle them to access the trading floors , discounts on trading fees and the right to vote on certain exchange matters as provided for by the rules of the particular exchange and cme group 2019s or the subsidiaries 2019 organizational documents .each class of cme group class b common stock is associated with a membership in a specific division for trading at cme .a cme trading right is a separate asset that is not part of or evidenced by the associated share of class b common stock of cme group .the class b common stock of cme group is intended only to ensure that the class b shareholders of cme group retain rights with respect to representation on the board of directors and approval rights with respect to the core rights described below .trading rights at cbot are evidenced by class b memberships in cbot , at nymex by class a memberships in nymex and at comex by comex division memberships in comex .members of the cbot , nymex and comex exchanges do not have any rights to elect members of the board of directors and are not entitled to receive dividends or other distributions on their memberships .the company is , however , required to have at least 10 cbot directors ( as defined by its bylaws ) until its 2012 annual meeting. .
|
what is the percentage of class b-3 common stock in relation with the total class b common stocks in 2009?
|
41.9%
|
{
"answer": "41.9%",
"decimal": 0.419,
"type": "percentage"
}
|
considering the sum of all class b common stocks , the percentage is calculated dividing the class b-3 ( 1.3 ) by the total amount .
|
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.