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american tower corporation and subsidiaries notes to consolidated financial statements mexico litigation 2014one of the company 2019s subsidiaries , spectrasite communications , inc .( 201csci 201d ) , is involved in a lawsuit brought in mexico against a former mexican subsidiary of sci ( the subsidiary of sci was sold in 2002 , prior to the company 2019s merger with sci 2019s parent in 2005 ) .the lawsuit concerns a terminated tower construction contract and related agreements with a wireless carrier in mexico .the primary issue for the company is whether sci itself can be found liable to the mexican carrier .the trial and lower appellate courts initially found that sci had no such liability in part because mexican courts do not have the necessary jurisdiction over sci .following several decisions by mexican appellate courts , including the supreme court of mexico , and related appeals by both parties , an intermediate appellate court issued a new decision that would , if enforceable , reimpose liability on sci in september 2010 .in its decision , the intermediate appellate court identified potential damages of approximately $ 6.7 million , and on october 14 , 2010 , the company filed a new constitutional appeal to again dispute the decision .as a result , at this stage of the proceeding , the company is unable to determine whether the liability imposed on sci by the september 2010 decision will survive or to estimate its share , if any , of that potential liability if the decision survives the pending appeal .xcel litigation 2014on june 3 , 2010 , horse-shoe capital ( 201chorse-shoe 201d ) , a company formed under the laws of the republic of mauritius , filed a complaint in the supreme court of the state of new york , new york county , with respect to horse-shoe 2019s sale of xcel to american tower mauritius ( 201catmauritius 201d ) , the company 2019s wholly-owned subsidiary formed under the laws of the republic of mauritius .the complaint names atmauritius , ati and the company as defendants , and the dispute concerns the timing and amount of distributions to be made by atmauritius to horse-shoe from a $ 7.5 million holdback escrow account and a $ 15.7 million tax escrow account , each established by the transaction agreements at closing .the complaint seeks release of the entire holdback escrow account , plus an additional $ 2.8 million , as well as the release of approximately $ 12.0 million of the tax escrow account .the complaint also seeks punitive damages in excess of $ 69.0 million .the company filed an answer to the complaint in august 2010 , disputing both the amounts alleged to be owed under the escrow agreements as well as the timing of the escrow distributions .the company also asserted in its answer that the demand for punitive damages is meritless .the parties have filed cross-motions for summary judgment concerning the release of the tax escrow account and in january 2011 the court granted the company 2019s motion for summary judgment , finding no obligation for the company to release the disputed portion of the tax escrow until 2013 .other claims are pending .the company is vigorously defending the lawsuit .lease obligations 2014the company leases certain land , office and tower space under operating leases that expire over various terms .many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option .escalation clauses present in operating leases , excluding those tied to cpi or other inflation-based indices , are recognized on a straight-line basis over the non-cancellable term of the lease .future minimum rental payments under non-cancellable operating leases include payments for certain renewal periods at the company 2019s option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases , thereby making it reasonably assured that the company will renew the lease .such payments in effect at december 31 , 2010 are as follows ( in thousands ) : year ending december 31 .
[['2011', '$ 257971'], ['2012', '254575'], ['2013', '251268'], ['2014', '246392'], ['2015', '238035'], ['thereafter', '2584332'], ['total', '$ 3832573']]
.
|
what portion of the total future minimum rental payments is due in the next 24 months?
|
13.4%
|
{
"answer": "13.4%",
"decimal": 0.134,
"type": "percentage"
}
| |
operating expenses operating expenses were $ 2.9 billion , an increase of 8% ( 8 % ) over 2000 .adjusted for the formation of citistreet , operating expenses grew 10% ( 10 % ) .expense growth in 2001 of 10% ( 10 % ) is significantly lower than the comparable 20% ( 20 % ) expense growth for 2000 compared to 1999 .state street successfully reduced the growth rate of expenses as revenue growth slowed during the latter half of 2000 and early 2001 .the expense growth in 2001 reflects higher expenses for salaries and employee benefits , as well as information systems and communications .o p e r a t i n g e x p e n s e s ( dollars in millions ) 2001 2000 1999 change adjusted change 00-01 ( 1 ) .
[['( dollars in millions )', '2001', '2000', '1999', 'change 00-01', 'adjusted change 00-01 ( 1 )'], ['salaries and employee benefits', '$ 1663', '$ 1524', '$ 1313', '9% ( 9 % )', '11% ( 11 % )'], ['information systems and communications', '365', '305', '287', '20', '22'], ['transaction processing services', '247', '268', '237', '-8 ( 8 )', '-7 ( 7 )'], ['occupancy', '229', '201', '188', '15', '16'], ['other', '363', '346', '311', '5', '7'], ['total operating expenses', '$ 2867', '$ 2644', '$ 2336', '8', '10'], ['number of employees', '19753', '17604', '17213', '12', '']]
( 1 ) 2000 results adjusted for the formation of citistreet expenses related to salaries and employee benefits increased $ 139million in 2001 , or $ 163millionwhen adjusted for the formation of citistreet .the adjusted increase reflects more than 2100 additional staff to support the large client wins and new business from existing clients and acquisitions .this expense increase was partially offset by lower incentive-based compensation .information systems and communications expense was $ 365 million in 2001 , up 20% ( 20 % ) from the prior year .adjusted for the formation of citistreet , information systems and communications expense increased 22% ( 22 % ) .this growth reflects both continuing investment in software and hardware , aswell as the technology costs associated with increased staffing levels .expenses related to transaction processing services were $ 247 million , down $ 21 million , or 8% ( 8 % ) .these expenses are volume related and include external contract services , subcustodian fees , brokerage services and fees related to securities settlement .lower mutual fund shareholder activities , and lower subcustodian fees resulting from both the decline in asset values and lower transaction volumes , drove the decline .occupancy expensewas $ 229million , up 15% ( 15 % ) .the increase is due to expenses necessary to support state street 2019s global growth , and expenses incurred for leasehold improvements and other operational costs .other expenses were $ 363 million , up $ 17 million , or 5% ( 5 % ) .these expenses include professional services , advertising and sales promotion , and internal operational expenses .the increase over prior year is due to a $ 21 million increase in the amortization of goodwill , primarily from acquisitions in 2001 .in accordance with recent accounting pronouncements , goodwill amortization expense will be eliminated in 2002 .state street recorded approximately $ 38 million , or $ .08 per share after tax , of goodwill amortization expense in 2001 .state street 2019s cost containment efforts , which reduced discretionary spending , partially offset the increase in other expenses .state street corporation 9 .
|
what was the value , in billions of dollars , of operating expenses in 2000?
|
2.69
|
{
"answer": "2.69",
"decimal": 2.69,
"type": "float"
}
| |
we measure cash flow as net cash provided by operating activities reduced by expenditures for property additions .we use this non-gaap financial measure of cash flow to focus management and investors on the amount of cash available for debt repayment , dividend distributions , acquisition opportunities , and share repurchases .our cash flow metric is reconciled to the most comparable gaap measure , as follows: .
[['( dollars in millions )', '2012', '2011', '2010'], ['net cash provided by operating activities', '$ 1758', '$ 1595', '$ 1008'], ['additions to properties', '-533 ( 533 )', '-594 ( 594 )', '-474 ( 474 )'], ['cash flow', '$ 1225', '$ 1001', '$ 534'], ['year-over-year change', '22.4% ( 22.4 % )', '87.5% ( 87.5 % )', '']]
year-over-year change 22.4 % ( % ) 87.5 % ( % ) year-over-year changes in cash flow ( as defined ) were driven by improved performance in working capital resulting from the benefit derived from the pringles acquisition , as well as changes in the level of capital expenditures during the three-year period .investing activities our net cash used in investing activities for 2012 amounted to $ 3245 million , an increase of $ 2658 million compared with 2011 primarily attributable to the $ 2668 acquisition of pringles in capital spending in 2012 included investments in our supply chain infrastructure , and to support capacity requirements in certain markets , including pringles .in addition , we continued the investment in our information technology infrastructure related to the reimplementation and upgrade of our sap platform .net cash used in investing activities of $ 587 million in 2011 increased by $ 122 million compared with 2010 , reflecting capital projects for our reimplementation and upgrade of our sap platform and investments in our supply chain .cash paid for additions to properties as a percentage of net sales has decreased to 3.8% ( 3.8 % ) in 2012 , from 4.5% ( 4.5 % ) in 2011 , which was an increase from 3.8% ( 3.8 % ) in financing activities in february 2013 , we issued $ 250 million of two-year floating-rate u.s .dollar notes , and $ 400 million of ten-year 2.75% ( 2.75 % ) u.s .dollar notes .the proceeds from these notes will be used for general corporate purposes , including , together with cash on hand , repayment of the $ 750 million aggregate principal amount of our 4.25% ( 4.25 % ) u.s .dollar notes due march 2013 .the floating-rate notes bear interest equal to three-month libor plus 23 basis points , subject to quarterly reset .the notes contain customary covenants that limit the ability of kellogg company and its restricted subsidiaries ( as defined ) to incur certain liens or enter into certain sale and lease-back transactions , as well as a change of control provision .our net cash provided by financing activities was $ 1317 for 2012 , compared to net cash used in financing activities of $ 957 and $ 439 for 2011 and 2010 , respectively .the increase in cash provided from financing activities in 2012 compared to 2011 and 2010 , was primarily due to the issuance of debt related to the acquisition of pringles .total debt was $ 7.9 billion at year-end 2012 and $ 6.0 billion at year-end 2011 .in march 2012 , we entered into interest rate swaps on our $ 500 million five-year 1.875% ( 1.875 % ) fixed rate u.s .dollar notes due 2016 , $ 500 million ten-year 4.15% ( 4.15 % ) fixed rate u.s .dollar notes due 2019 and $ 500 million of our $ 750 million seven-year 4.45% ( 4.45 % ) fixed rate u.s .dollar notes due 2016 .the interest rate swaps effectively converted these notes from their fixed rates to floating rate obligations through maturity .in may 2012 , we issued $ 350 million of three-year 1.125% ( 1.125 % ) u.s .dollar notes , $ 400 million of five-year 1.75% ( 1.75 % ) u.s .dollar notes and $ 700 million of ten-year 3.125% ( 3.125 % ) u.s .dollar notes , resulting in aggregate net proceeds after debt discount of $ 1.442 billion .the proceeds of these notes were used for general corporate purposes , including financing a portion of the acquisition of pringles .in may 2012 , we issued cdn .$ 300 million of two-year 2.10% ( 2.10 % ) fixed rate canadian dollar notes , using the proceeds from these notes for general corporate purposes , which included repayment of intercompany debt .this repayment resulted in cash available to be used for a portion of the acquisition of pringles .in december 2012 , we repaid $ 750 million five-year 5.125% ( 5.125 % ) u.s .dollar notes at maturity with commercial paper .in february 2011 , we entered into interest rate swaps on $ 200 million of our $ 750 million seven-year 4.45% ( 4.45 % ) fixed rate u.s .dollar notes due 2016 .the interest rate swaps effectively converted this portion of the notes from a fixed rate to a floating rate obligation through maturity .in april 2011 , we repaid $ 945 million ten-year 6.60% ( 6.60 % ) u.s .dollar notes at maturity with commercial paper .in may 2011 , we issued $ 400 million of seven-year 3.25% ( 3.25 % ) fixed rate u.s .dollar notes , using the proceeds of $ 397 million for general corporate purposes and repayment of commercial paper .during 2011 , we entered into interest rate swaps with notional amounts totaling $ 400 million , which effectively converted these notes from a fixed rate to a floating rate obligation through maturity .in november 2011 , we issued $ 500 million of five-year 1.875% ( 1.875 % ) fixed rate u .s .dollar notes , using the proceeds of $ 498 million for general corporate purposes and repayment of commercial paper .during 2012 , we entered into interest rate swaps which effectively converted these notes from a fixed rate to a floating rate obligation through maturity .in april 2010 , our board of directors approved a share repurchase program authorizing us to repurchase shares of our common stock amounting to $ 2.5 billion during 2010 through 2012 .this three year authorization replaced previous share buyback programs which had authorized stock repurchases of up to $ 1.1 billion for 2010 and $ 650 million for 2009 .under this program , we repurchased approximately 1 million , 15 million and 21 million shares of common stock for $ 63 million , $ 793 million and $ 1.1 billion during 2012 , 2011 and 2010 , respectively .in december 2012 , our board of directors approved a share repurchase program authorizing us to repurchase shares of our common stock amounting to $ 300 million during 2013 .we paid quarterly dividends to shareholders totaling $ 1.74 per share in 2012 , $ 1.67 per share in 2011 and $ 1.56 per share in 2010 .total cash paid for dividends increased by 3.0% ( 3.0 % ) in 2012 and 3.4% ( 3.4 % ) in 2011 .in march 2011 , we entered into an unsecured four- year credit agreement which allows us to borrow , on a revolving credit basis , up to $ 2.0 billion .our long-term debt agreements contain customary covenants that limit kellogg company and some of its subsidiaries from incurring certain liens or from entering into certain sale and lease-back transactions .some agreements also contain change in control provisions .however , they do not contain acceleration of maturity clauses that are dependent on credit ratings .a change in our credit ratings could limit our access to the u.s .short-term debt market and/or increase the cost of refinancing long-term debt in the future .however , even under these circumstances , we would continue to have access to our four-year credit agreement , which expires in march 2015 .this source of liquidity is unused and available on an unsecured basis , although we do not currently plan to use it .capital and credit markets , including commercial paper markets , continued to experience instability and disruption as the u.s .and global economies underwent a period of extreme uncertainty .throughout this period of uncertainty , we continued to have access to the u.s. , european , and canadian commercial paper markets .our commercial paper and term debt credit ratings were not affected by the changes in the credit environment .we monitor the financial strength of our third-party financial institutions , including those that hold our cash and cash equivalents as well as those who serve as counterparties to our credit facilities , our derivative financial instruments , and other arrangements .we are in compliance with all covenants as of december 29 , 2012 .we continue to believe that we will be able to meet our interest and principal repayment obligations and maintain our debt covenants for the foreseeable future , while still meeting our operational needs , including the pursuit of selected bolt-on acquisitions .this will be accomplished through our strong cash flow , our short- term borrowings , and our maintenance of credit facilities on a global basis. .
|
what percent of net cash from operations is retain as cash flow?
|
69.68%
|
{
"answer": "69.68%",
"decimal": 0.6968000000000001,
"type": "percentage"
}
| |
republic services , inc .notes to consolidated financial statements 2014 ( continued ) 16 .financial instruments fuel hedges we have entered into multiple swap agreements designated as cash flow hedges to mitigate some of our exposure related to changes in diesel fuel prices .these swaps qualified for , and were designated as , effective hedges of changes in the prices of forecasted diesel fuel purchases ( fuel hedges ) .the following table summarizes our outstanding fuel hedges as of december 31 , 2013 : year gallons hedged weighted average contract price per gallon .
[['year', 'gallons hedged', 'weighted average contractprice per gallon'], ['2014', '27000000', '$ 3.81'], ['2015', '18000000', '3.74'], ['2016', '12000000', '3.68']]
if the national u.s .on-highway average price for a gallon of diesel fuel as published by the department of energy exceeds the contract price per gallon , we receive the difference between the average price and the contract price ( multiplied by the notional gallons ) from the counterparty .if the average price is less than the contract price per gallon , we pay the difference to the counterparty .the fair values of our fuel hedges are determined using standard option valuation models with assumptions about commodity prices being based on those observed in underlying markets ( level 2 in the fair value hierarchy ) .the aggregate fair values of our outstanding fuel hedges as of december 31 , 2013 and 2012 were current assets of $ 6.7 million and $ 3.1 million , respectively , and current liabilities of $ 0.1 million and $ 0.4 million , respectively , and have been recorded in other prepaid expenses and other current assets and other accrued liabilities in our consolidated balance sheets , respectively .the ineffective portions of the changes in fair values resulted in ( losses ) gains of less than $ 0.1 million for the years ended december 31 , 2013 , 2012 and 2011 , and have been recorded in other income ( expense ) , net in our consolidated statements of income .total gain ( loss ) recognized in other comprehensive income for fuel hedges ( the effective portion ) was $ 2.4 million , $ 3.4 million and $ ( 1.7 ) million , for the years ended december 31 , 2013 , 2012 and 2011 , respectively .recycling commodity hedges our revenue from sale of recycling commodities is primarily from sales of old corrugated cardboard ( occ ) and old newspaper ( onp ) .we use derivative instruments such as swaps and costless collars designated as cash flow hedges to manage our exposure to changes in prices of these commodities .we have entered into multiple agreements related to the forecasted occ and onp sales .the agreements qualified for , and were designated as , effective hedges of changes in the prices of certain forecasted recycling commodity sales ( commodity hedges ) .we entered into costless collar agreements on forecasted sales of occ and onp .the agreements involve combining a purchased put option giving us the right to sell occ and onp at an established floor strike price with a written call option obligating us to deliver occ and onp at an established cap strike price .the puts and calls have the same settlement dates , are net settled in cash on such dates and have the same terms to expiration .the contemporaneous combination of options resulted in no net premium for us and represent costless collars .under these agreements , we will make or receive no payments as long as the settlement price is between the floor price and cap price ; however , if the settlement price is above the cap , we will pay the counterparty an amount equal to the excess of the settlement price over the cap times the monthly volumes hedged .if the settlement price .
|
what was the growth percent of the total gain ( loss ) recognized in other comprehensive income for fuel hedges from 2012 to 2013
|
-29.4%
|
{
"answer": "-29.4%",
"decimal": -0.294,
"type": "percentage"
}
|
the percent of the decline from 2012 to 2013 was
|
performance of the company 2019s obligations under the senior notes , including any repurchase obligations resulting from a change of control , is unconditionally guaranteed , jointly and severally , on an unsecured basis , by each of hii 2019s existing and future domestic restricted subsidiaries that guarantees debt under the credit facility ( the 201csubsidiary guarantors 201d ) .the guarantees rank equally with all other unsecured and unsubordinated indebtedness of the guarantors .the subsidiary guarantors are each directly or indirectly 100% ( 100 % ) owned by hii .there are no significant restrictions on the ability of hii or any subsidiary guarantor to obtain funds from their respective subsidiaries by dividend or loan .mississippi economic development revenue bonds 2014as of december 31 , 2011 and 2010 , the company had $ 83.7 million outstanding from the issuance of industrial revenue bonds issued by the mississippi business finance corporation .these bonds accrue interest at a fixed rate of 7.81% ( 7.81 % ) per annum ( payable semi-annually ) and mature in 2024 .while repayment of principal and interest is guaranteed by northrop grumman systems corporation , hii has agreed to indemnify northrop grumman systems corporation for any losses related to the guaranty .in accordance with the terms of the bonds , the proceeds have been used to finance the construction , reconstruction , and renovation of the company 2019s interest in certain ship manufacturing and repair facilities , or portions thereof , located in the state of mississippi .gulf opportunity zone industrial development revenue bonds 2014as of december 31 , 2011 and 2010 , the company had $ 21.6 million outstanding from the issuance of gulf opportunity zone industrial development revenue bonds ( 201cgo zone irbs 201d ) issued by the mississippi business finance corporation .the go zone irbs were initially issued in a principal amount of $ 200 million , and in november 2010 , in connection with the anticipated spin-off , hii purchased $ 178 million of the bonds using the proceeds from a $ 178 million intercompany loan from northrop grumman .see note 20 : related party transactions and former parent company equity .the remaining bonds accrue interest at a fixed rate of 4.55% ( 4.55 % ) per annum ( payable semi-annually ) , and mature in 2028 .in accordance with the terms of the bonds , the proceeds have been used to finance the construction , reconstruction , and renovation of the company 2019s interest in certain ship manufacturing and repair facilities , or portions thereof , located in the state of mississippi .the estimated fair value of the company 2019s total long-term debt , including current portions , at december 31 , 2011 and 2010 , was $ 1864 million and $ 128 million , respectively .the fair value of the total long-term debt was calculated based on recent trades for most of the company 2019s debt instruments or based on interest rates prevailing on debt with substantially similar risks , terms and maturities .the aggregate amounts of principal payments due on long-term debt for each of the next five years and thereafter are : ( $ in millions ) .
[['2012', '$ 29'], ['2013', '50'], ['2014', '79'], ['2015', '108'], ['2016', '288'], ['thereafter', '1305'], ['total long-term debt', '$ 1859']]
14 .investigations , claims , and litigation the company is involved in legal proceedings before various courts and administrative agencies , and is periodically subject to government examinations , inquiries and investigations .pursuant to fasb accounting standard codification 450 contingencies , the company has accrued for losses associated with investigations , claims and litigation when , and to the extent that , loss amounts related to the investigations , claims and litigation are probable and can be reasonably estimated .the actual losses that might be incurred to resolve such investigations , claims and litigation may be higher or lower than the amounts accrued .for matters where a material loss is probable or reasonably possible and the amount of loss cannot be reasonably estimated , but the company is able to reasonably estimate a range of possible losses , such estimated range is required to be disclosed in these notes .this estimated range would be based on information currently available to the company and would involve elements of judgment and significant uncertainties .this estimated range of possible loss would not represent the company 2019s maximum possible loss exposure .for matters as to which the company is not able to reasonably estimate a possible loss or range of loss , the company is required to indicate the reasons why it is unable to estimate the possible loss or range of loss .for matters not specifically described in these notes , the company does not believe , based on information currently available to it , that it is reasonably possible that the liabilities , if any , arising from .
|
what is the ratio of the long-term debt after 2016 to the total long term debt
|
0.7
|
{
"answer": "0.7",
"decimal": 0.7,
"type": "float"
}
|
the ratio of the long term debt after 2016 to the total long term debt means that for every $ 1 of the total long term debt is made up of $ 0.70 of long term debt due after 2016
|
mondavi produces , markets and sells premium , super-premium and fine california wines under the woodbridge by robert mondavi , robert mondavi private selection and robert mondavi winery brand names .woodbridge and robert mondavi private selection are the leading premium and super-premium wine brands by volume , respectively , in the united states .the acquisition of robert mondavi supports the company 2019s strategy of strengthening the breadth of its portfolio across price segments to capitalize on the overall growth in the pre- mium , super-premium and fine wine categories .the company believes that the acquired robert mondavi brand names have strong brand recognition globally .the vast majority of robert mondavi 2019s sales are generated in the united states .the company intends to leverage the robert mondavi brands in the united states through its selling , marketing and distribution infrastructure .the company also intends to further expand distribution for the robert mondavi brands in europe through its constellation europe infrastructure .the company and robert mondavi have complementary busi- nesses that share a common growth orientation and operating philosophy .the robert mondavi acquisition provides the company with a greater presence in the fine wine sector within the united states and the ability to capitalize on the broader geographic distribution in strategic international markets .the robert mondavi acquisition supports the company 2019s strategy of growth and breadth across categories and geographies , and strengthens its competitive position in its core markets .in par- ticular , the company believes there are growth opportunities for premium , super-premium and fine wines in the united kingdom , united states and other wine markets .total consid- eration paid in cash to the robert mondavi shareholders was $ 1030.7 million .additionally , the company expects to incur direct acquisition costs of $ 11.2 million .the purchase price was financed with borrowings under the company 2019s 2004 credit agreement ( as defined in note 9 ) .in accordance with the pur- chase method of accounting , the acquired net assets are recorded at fair value at the date of acquisition .the purchase price was based primarily on the estimated future operating results of robert mondavi , including the factors described above , as well as an estimated benefit from operating cost synergies .the results of operations of the robert mondavi business are reported in the constellation wines segment and have been included in the consolidated statement of income since the acquisition date .the following table summarizes the estimated fair values of the assets acquired and liabilities assumed in the robert mondavi acquisition at the date of acquisition .the company is in the process of obtaining third-party valuations of certain assets and liabilities , and refining its restructuring plan which is under development and will be finalized during the company 2019s year ending february 28 , 2006 ( see note19 ) .accordingly , the allocation of the purchase price is subject to refinement .estimated fair values at december 22 , 2004 , are as follows : {in thousands} .
[['current assets', '$ 494788'], ['property plant and equipment', '452902'], ['other assets', '178823'], ['trademarks', '186000'], ['goodwill', '590459'], ['total assets acquired', '1902972'], ['current liabilities', '309051'], ['long-term liabilities', '552060'], ['total liabilities acquired', '861111'], ['net assets acquired', '$ 1041861']]
the trademarks are not subject to amortization .none of the goodwill is expected to be deductible for tax purposes .in connection with the robert mondavi acquisition and robert mondavi 2019s previously disclosed intention to sell certain of its winery properties and related assets , and other vineyard prop- erties , the company has classified certain assets as held for sale as of february 28 , 2005 .the company expects to sell these assets during the year ended february 28 , 2006 , for net pro- ceeds of approximately $ 150 million to $ 175 million .no gain or loss is expected to be recognized upon the sale of these assets .hardy acquisition 2013 on march 27 , 2003 , the company acquired control of brl hardy limited , now known as hardy wine company limited ( 201chardy 201d ) , and on april 9 , 2003 , the company completed its acquisition of all of hardy 2019s outstanding capital stock .as a result of the acquisition of hardy , the company also acquired the remaining 50% ( 50 % ) ownership of pacific wine partners llc ( 201cpwp 201d ) , the joint venture the company established with hardy in july 2001 .the acquisition of hardy along with the remaining interest in pwp is referred to together as the 201chardy acquisition . 201d through this acquisition , the company acquired one of australia 2019s largest wine producers with interests in winer- ies and vineyards in most of australia 2019s major wine regions as well as new zealand and the united states and hardy 2019s market- ing and sales operations in the united kingdom .total consideration paid in cash and class a common stock to the hardy shareholders was $ 1137.4 million .additionally , the company recorded direct acquisition costs of $ 17.2 million .the acquisition date for accounting purposes is march 27 , 2003 .the company has recorded a $ 1.6 million reduction in the purchase price to reflect imputed interest between the accounting acquisition date and the final payment of consider- ation .this charge is included as interest expense in the consolidated statement of income for the year ended february 29 , 2004 .the cash portion of the purchase price paid to the hardy shareholders and optionholders ( $ 1060.2 mil- lion ) was financed with $ 660.2 million of borrowings under the company 2019s then existing credit agreement and $ 400.0 million .
|
what is the current ratio for 2004?
|
1.6
|
{
"answer": "1.6",
"decimal": 1.6,
"type": "float"
}
| |
a reconciliation of the beginning and ending amount of unrecognized tax benefits , for the periods indicated , is as follows: .
[['( dollars in thousands )', '2010', '2009', '2008'], ['balance at january 1', '$ 29010', '$ 34366', '$ 29132'], ['additions based on tax positions related to the current year', '7119', '6997', '5234'], ['additions for tax positions of prior years', '-', '-', '-'], ['reductions for tax positions of prior years', '-', '-', '-'], ['settlements with taxing authorities', '-12356 ( 12356 )', '-12353 ( 12353 )', '-'], ['lapses of applicable statutes of limitations', '-', '-', '-'], ['balance at december 31', '$ 23773', '$ 29010', '$ 34366']]
the entire amount of the unrecognized tax benefits would affect the effective tax rate if recognized .in 2010 , the company favorably settled a 2003 and 2004 irs audit .the company recorded a net overall tax benefit including accrued interest of $ 25920 thousand .in addition , the company was also able to take down a $ 12356 thousand fin 48 reserve that had been established regarding the 2003 and 2004 irs audit .the company is no longer subject to u.s .federal , state and local or foreign income tax examinations by tax authorities for years before 2007 .the company recognizes accrued interest related to net unrecognized tax benefits and penalties in income taxes .during the years ended december 31 , 2010 , 2009 and 2008 , the company accrued and recognized a net expense ( benefit ) of approximately $ ( 9938 ) thousand , $ 1563 thousand and $ 2446 thousand , respectively , in interest and penalties .included within the 2010 net expense ( benefit ) of $ ( 9938 ) thousand is $ ( 10591 ) thousand of accrued interest related to the 2003 and 2004 irs audit .the company is not aware of any positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within twelve months of the reporting date .for u.s .income tax purposes the company has foreign tax credit carryforwards of $ 55026 thousand that begin to expire in 2014 .in addition , for u.s .income tax purposes the company has $ 41693 thousand of alternative minimum tax credits that do not expire .management believes that it is more likely than not that the company will realize the benefits of its net deferred tax assets and , accordingly , no valuation allowance has been recorded for the periods presented .tax benefits of $ 629 thousand and $ 1714 thousand related to share-based compensation deductions for stock options exercised in 2010 and 2009 , respectively , are included within additional paid-in capital of the shareholders 2019 equity section of the consolidated balance sheets. .
|
what was the percent change in net expense in interest and penalties between 2008 and 2009?
|
-36%
|
{
"answer": "-36%",
"decimal": -0.36,
"type": "percentage"
}
| |
liquidity and capital resources we currently expect to fund all of our cash requirements which are reasonably foreseeable for 2018 , including scheduled debt repayments , new investments in the business , share repurchases , dividend payments , possible business acquisitions and pension contributions , with cash from operating activities , and as needed , additional short-term and/or long-term borrowings .we continue to expect our operating cash flow to remain strong .as of december 31 , 2017 , we had $ 211 million of cash and cash equivalents on hand , of which $ 151 million was held outside of the as of december 31 , 2016 , we had $ 327 million of cash and cash equivalents on hand , of which $ 184 million was held outside of the u.s .as of december 31 , 2015 , we had $ 26 million of deferred tax liabilities for pre-acquisition foreign earnings associated with the legacy nalco entities and legacy champion entities that we intended to repatriate .these liabilities were recorded as part of the respective purchase price accounting of each transaction .the remaining foreign earnings were repatriated in 2016 , reducing the deferred tax liabilities to zero at december 31 , 2016 .as of december 31 , 2017 we had a $ 2.0 billion multi-year credit facility , which expires in november 2022 .the credit facility has been established with a diverse syndicate of banks .there were no borrowings under our credit facility as of december 31 , 2017 or 2016 .the credit facility supports our $ 2.0 billion u.s .commercial paper program and $ 2.0 billion european commercial paper program .combined borrowing under these two commercial paper programs may not exceed $ 2.0 billion .at year-end , we had no amount outstanding under the european commercial paper program and no amount outstanding under the u.s .commercial paper program .additionally , we have uncommitted credit lines of $ 660 million with major international banks and financial institutions to support our general global funding needs .most of these lines are used to support global cash pooling structures .approximately $ 643 million of these credit lines were available for use as of year-end 2017 .bank supported letters of credit , surety bonds and guarantees total $ 198 million and represent commercial business transactions .we do not have any other significant unconditional purchase obligations or commercial commitments .as of december 31 , 2017 , our short-term borrowing program was rated a-2 by standard & poor 2019s and p-2 by moody 2019s .as of december 31 , 2017 , standard & poor 2019s and moody 2019s rated our long-term credit at a- ( stable outlook ) and baa1 ( stable outlook ) , respectively .a reduction in our credit ratings could limit or preclude our ability to issue commercial paper under our current programs , or could also adversely affect our ability to renew existing , or negotiate new , credit facilities in the future and could increase the cost of these facilities .should this occur , we could seek additional sources of funding , including issuing additional term notes or bonds .in addition , we have the ability , at our option , to draw upon our $ 2.0 billion of committed credit facility .we are in compliance with our debt covenants and other requirements of our credit agreements and indentures .a schedule of our various obligations as of december 31 , 2017 are summarized in the following table: .
[['( millions )', 'total', 'payments due by period less than 1 year', 'payments due by period 2-3 years', 'payments due by period 4-5 years', 'payments due by period more than 5 years'], ['notes payable', '$ 15', '$ 15', '$ -', '$ -', '$ -'], ['one-time transition tax', '160', '13', '26', '26', '95'], ['long-term debt', '7303', '549', '696', '1513', '4545'], ['capital lease obligations', '5', '1', '1', '1', '2'], ['operating leases', '617', '131', '211', '160', '115'], ['interest*', '2753', '242', '436', '375', '1700'], ['total', '$ 10853', '$ 951', '$ 1370', '$ 2075', '$ 6457']]
* interest on variable rate debt was calculated using the interest rate at year-end 2017 .during the fourth quarter of 2017 , we recorded a one-time transition tax related to enactment of the tax act .the expense is primarily related to the one-time transition tax , which is payable over eight years .as discussed further in note 12 , this balance is a provisional amount and is subject to adjustment during the measurement period of up to one year following the enactment of the tax act , as provided by recent sec guidance .as of december 31 , 2017 , our gross liability for uncertain tax positions was $ 68 million .we are not able to reasonably estimate the amount by which the liability will increase or decrease over an extended period of time or whether a cash settlement of the liability will be required .therefore , these amounts have been excluded from the schedule of contractual obligations. .
|
what percent of operating lease payments are due in less than one year?
|
21.2%
|
{
"answer": "21.2%",
"decimal": 0.212,
"type": "percentage"
}
| |
liquidity and capital resources during the past three years , we had sufficient financial resources to meet our operating requirements , to fund our capital spending , share repurchases and pension plans and to pay increasing dividends to our shareholders .cash from operating activities was $ 1436 million , $ 1310 million , and $ 1345 million in 2011 , 2010 , and 2009 , respectively .higher earnings increased cash from operations in 2011 compared to 2010 , but the increase was reduced by cash used to fund an increase in working capital of $ 212 million driven by our sales growth in 2011 .cash provided by working capital was greater in 2009 than 2010 and that decline was more than offset by the cash from higher 2010 earnings .operating working capital is a subset of total working capital and represents ( 1 ) trade receivables-net of the allowance for doubtful accounts , plus ( 2 ) inventories on a first-in , first-out ( 201cfifo 201d ) basis , less ( 3 ) trade creditors 2019 liabilities .see note 3 , 201cworking capital detail 201d under item 8 of this form 10-k for further information related to the components of the company 2019s operating working capital .we believe operating working capital represents the key components of working capital under the operating control of our businesses .operating working capital at december 31 , 2011 and 2010 was $ 2.7 billion and $ 2.6 billion , respectively .a key metric we use to measure our working capital management is operating working capital as a percentage of sales ( fourth quarter sales annualized ) .( millions ) 2011 2010 operating working capital $ 2739 $ 2595 operating working capital as % ( % ) of sales 19.5% ( 19.5 % ) 19.2% ( 19.2 % ) the change in operating working capital elements , excluding the impact of currency and acquisitions , was an increase of $ 195 million during the year ended december 31 , 2011 .this increase was the net result of an increase in receivables from customers associated with the 2011 increase in sales and an increase in fifo inventory slightly offset by an increase in trade creditors 2019 liabilities .trade receivables from customers , net , as a percentage of fourth quarter sales , annualized , for 2011 was 17.9 percent , down slightly from 18.1 percent for 2010 .days sales outstanding was 66 days in 2011 , level with 2010 .inventories on a fifo basis as a percentage of fourth quarter sales , annualized , for 2011 was 13.1 percent level with 2010 .inventory turnover was 5.0 times in 2011 and 4.6 times in 2010 .total capital spending , including acquisitions , was $ 446 million , $ 341 million and $ 265 million in 2011 , 2010 , and 2009 , respectively .spending related to modernization and productivity improvements , expansion of existing businesses and environmental control projects was $ 390 million , $ 307 million and $ 239 million in 2011 , 2010 , and 2009 , respectively , and is expected to be in the range of $ 450-$ 550 million during 2012 .capital spending , excluding acquisitions , as a percentage of sales was 2.6% ( 2.6 % ) , 2.3% ( 2.3 % ) and 2.0% ( 2.0 % ) in 2011 , 2010 and 2009 , respectively .capital spending related to business acquisitions amounted to $ 56 million , $ 34 million , and $ 26 million in 2011 , 2010 and 2009 , respectively .we continue to evaluate acquisition opportunities and expect to use cash in 2012 to fund small to mid-sized acquisitions , as part of a balanced deployment of our cash to support growth in earnings .in january 2012 , the company closed the previously announced acquisitions of colpisa , a colombian producer of automotive oem and refinish coatings , and dyrup , a european architectural coatings company .the cost of these acquisitions , including assumed debt , was $ 193 million .dividends paid to shareholders totaled $ 355 million , $ 360 million and $ 353 million in 2011 , 2010 and 2009 , respectively .ppg has paid uninterrupted annual dividends since 1899 , and 2011 marked the 40th consecutive year of increased annual dividend payments to shareholders .we did not have a mandatory contribution to our u.s .defined benefit pension plans in 2011 ; however , we made voluntary contributions to these plans in 2011 totaling $ 50 million .in 2010 and 2009 , we made voluntary contributions to our u.s .defined benefit pension plans of $ 250 and $ 360 million ( of which $ 100 million was made in ppg stock ) , respectively .we expect to make voluntary contributions to our u.s .defined benefit pension plans in 2012 of up to $ 60 million .contributions were made to our non-u.s .defined benefit pension plans of $ 71 million , $ 87 million and $ 90 million ( of which approximately $ 20 million was made in ppg stock ) for 2011 , 2010 and 2009 , respectively , some of which were required by local funding requirements .we expect to make mandatory contributions to our non-u.s .plans in 2012 of approximately $ 90 million .the company 2019s share repurchase activity in 2011 , 2010 and 2009 was 10.2 million shares at a cost of $ 858 million , 8.1 million shares at a cost of $ 586 million and 1.5 million shares at a cost of $ 59 million , respectively .we expect to make share repurchases in 2012 as part of our cash deployment focused on earnings growth .the amount of spending will depend on the level of acquisition spending and other uses of cash , but we currently expect to spend in the range of $ 250 million to $ 500 million on share repurchases in 2012 .we can repurchase about 9 million shares under the current authorization from the board of directors .26 2011 ppg annual report and form 10-k .
[['( millions )', '2011', '2010', ''], ['operating working capital', '$ 2739', '$ 2595', ''], ['operating working capital as % ( % ) of sales', '19.5% ( 19.5 % )', '19.2', '% ( % )']]
liquidity and capital resources during the past three years , we had sufficient financial resources to meet our operating requirements , to fund our capital spending , share repurchases and pension plans and to pay increasing dividends to our shareholders .cash from operating activities was $ 1436 million , $ 1310 million , and $ 1345 million in 2011 , 2010 , and 2009 , respectively .higher earnings increased cash from operations in 2011 compared to 2010 , but the increase was reduced by cash used to fund an increase in working capital of $ 212 million driven by our sales growth in 2011 .cash provided by working capital was greater in 2009 than 2010 and that decline was more than offset by the cash from higher 2010 earnings .operating working capital is a subset of total working capital and represents ( 1 ) trade receivables-net of the allowance for doubtful accounts , plus ( 2 ) inventories on a first-in , first-out ( 201cfifo 201d ) basis , less ( 3 ) trade creditors 2019 liabilities .see note 3 , 201cworking capital detail 201d under item 8 of this form 10-k for further information related to the components of the company 2019s operating working capital .we believe operating working capital represents the key components of working capital under the operating control of our businesses .operating working capital at december 31 , 2011 and 2010 was $ 2.7 billion and $ 2.6 billion , respectively .a key metric we use to measure our working capital management is operating working capital as a percentage of sales ( fourth quarter sales annualized ) .( millions ) 2011 2010 operating working capital $ 2739 $ 2595 operating working capital as % ( % ) of sales 19.5% ( 19.5 % ) 19.2% ( 19.2 % ) the change in operating working capital elements , excluding the impact of currency and acquisitions , was an increase of $ 195 million during the year ended december 31 , 2011 .this increase was the net result of an increase in receivables from customers associated with the 2011 increase in sales and an increase in fifo inventory slightly offset by an increase in trade creditors 2019 liabilities .trade receivables from customers , net , as a percentage of fourth quarter sales , annualized , for 2011 was 17.9 percent , down slightly from 18.1 percent for 2010 .days sales outstanding was 66 days in 2011 , level with 2010 .inventories on a fifo basis as a percentage of fourth quarter sales , annualized , for 2011 was 13.1 percent level with 2010 .inventory turnover was 5.0 times in 2011 and 4.6 times in 2010 .total capital spending , including acquisitions , was $ 446 million , $ 341 million and $ 265 million in 2011 , 2010 , and 2009 , respectively .spending related to modernization and productivity improvements , expansion of existing businesses and environmental control projects was $ 390 million , $ 307 million and $ 239 million in 2011 , 2010 , and 2009 , respectively , and is expected to be in the range of $ 450-$ 550 million during 2012 .capital spending , excluding acquisitions , as a percentage of sales was 2.6% ( 2.6 % ) , 2.3% ( 2.3 % ) and 2.0% ( 2.0 % ) in 2011 , 2010 and 2009 , respectively .capital spending related to business acquisitions amounted to $ 56 million , $ 34 million , and $ 26 million in 2011 , 2010 and 2009 , respectively .we continue to evaluate acquisition opportunities and expect to use cash in 2012 to fund small to mid-sized acquisitions , as part of a balanced deployment of our cash to support growth in earnings .in january 2012 , the company closed the previously announced acquisitions of colpisa , a colombian producer of automotive oem and refinish coatings , and dyrup , a european architectural coatings company .the cost of these acquisitions , including assumed debt , was $ 193 million .dividends paid to shareholders totaled $ 355 million , $ 360 million and $ 353 million in 2011 , 2010 and 2009 , respectively .ppg has paid uninterrupted annual dividends since 1899 , and 2011 marked the 40th consecutive year of increased annual dividend payments to shareholders .we did not have a mandatory contribution to our u.s .defined benefit pension plans in 2011 ; however , we made voluntary contributions to these plans in 2011 totaling $ 50 million .in 2010 and 2009 , we made voluntary contributions to our u.s .defined benefit pension plans of $ 250 and $ 360 million ( of which $ 100 million was made in ppg stock ) , respectively .we expect to make voluntary contributions to our u.s .defined benefit pension plans in 2012 of up to $ 60 million .contributions were made to our non-u.s .defined benefit pension plans of $ 71 million , $ 87 million and $ 90 million ( of which approximately $ 20 million was made in ppg stock ) for 2011 , 2010 and 2009 , respectively , some of which were required by local funding requirements .we expect to make mandatory contributions to our non-u.s .plans in 2012 of approximately $ 90 million .the company 2019s share repurchase activity in 2011 , 2010 and 2009 was 10.2 million shares at a cost of $ 858 million , 8.1 million shares at a cost of $ 586 million and 1.5 million shares at a cost of $ 59 million , respectively .we expect to make share repurchases in 2012 as part of our cash deployment focused on earnings growth .the amount of spending will depend on the level of acquisition spending and other uses of cash , but we currently expect to spend in the range of $ 250 million to $ 500 million on share repurchases in 2012 .we can repurchase about 9 million shares under the current authorization from the board of directors .26 2011 ppg annual report and form 10-k .
|
based on the cost per share of the repurchase activity in 2011 , how much would it cost to repurchase the remaining shares under the current authorization from the board of directors?
|
757000000
|
{
"answer": "757000000",
"decimal": 757000000,
"type": "float"
}
| |
entergy corporation and subsidiaries notes to financial statements ( a ) consists of pollution control revenue bonds and environmental revenue bonds .( b ) the bonds are secured by a series of collateral first mortgage bonds .( c ) in december 2005 , entergy corporation sold 10 million equity units with a stated amount of $ 50 each .an equity unit consisted of ( 1 ) a note , initially due february 2011 and initially bearing interest at an annual rate of 5.75% ( 5.75 % ) , and ( 2 ) a purchase contract that obligated the holder of the equity unit to purchase for $ 50 between 0.5705 and 0.7074 shares of entergy corporation common stock on or before february 17 , 2009 .entergy paid the holders quarterly contract adjustment payments of 1.875% ( 1.875 % ) per year on the stated amount of $ 50 per equity unit .under the terms of the purchase contracts , entergy attempted to remarket the notes in february 2009 but was unsuccessful , the note holders put the notes to entergy , entergy retired the notes , and entergy issued 6598000 shares of common stock in the settlement of the purchase contracts .( d ) pursuant to the nuclear waste policy act of 1982 , entergy's nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service .the contracts include a one-time fee for generation prior to april 7 , 1983 .entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee , plus accrued interest , in long-term ( e ) the fair value excludes lease obligations , long-term doe obligations , and the note payable to nypa , and includes debt due within one year .it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms .( f ) entergy gulf states louisiana remains primarily liable for all of the long-term debt issued by entergy gulf states , inc .that was outstanding on december 31 , 2008 and 2007 .under a debt assumption agreement with entergy gulf states louisiana , entergy texas assumed approximately 46% ( 46 % ) of this long-term debt .the annual long-term debt maturities ( excluding lease obligations ) for debt outstanding as of december 31 , 2008 , for the next five years are as follows : amount ( in thousands ) .
[['', 'amount ( in thousands )'], ['2009', '$ 516019'], ['2010', '$ 763036'], ['2011', '$ 897367'], ['2012', '$ 3625459'], ['2013', '$ 579461']]
in november 2000 , entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction .entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing .these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .in accordance with the purchase agreement with nypa , the purchase of indian point 2 in 2001 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 .this liability was recorded upon the purchase of indian point 2 in september 2001 , and is included in the note payable to nypa balance above .in july 2003 , a payment of $ 102 million was made prior to maturity on the note payable to nypa .under a provision in a letter of credit supporting these notes , if certain of the utility operating companies or system energy were to default on other indebtedness , entergy could be required to post collateral to support the letter of credit .covenants in the entergy corporation notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization .if entergy's debt ratio exceeds this limit , or if entergy or certain of the utility operating companies default on other indebtedness or are in bankruptcy or insolvency proceedings , an acceleration of the notes' maturity dates may occur .entergy gulf states louisiana , entergy louisiana , entergy mississippi , entergy texas , and system energy have received ferc long-term financing orders authorizing long-term securities issuances .entergy arkansas has .
|
what was the sum of the notes entergy issued to nypa with eight and seven annual installment payments
|
916
|
{
"answer": "916",
"decimal": 916,
"type": "float"
}
| |
in asset positions , which totaled $ 41.2 million at june 30 , 2009 .to manage this risk , we have established strict counterparty credit guidelines that are continually monitored and reported to management .accordingly , management believes risk of loss under these hedging contracts is remote .certain of our derivative fi nancial instruments contain credit-risk-related contingent features .as of june 30 , 2009 , we were in compliance with such features and there were no derivative financial instruments with credit-risk-related contingent features that were in a net liability position .the est{e lauder companies inc .111 market risk we use a value-at-risk model to assess the market risk of our derivative fi nancial instruments .value-at-risk rep resents the potential losses for an instrument or portfolio from adverse changes in market factors for a specifi ed time period and confi dence level .we estimate value- at-risk across all of our derivative fi nancial instruments using a model with historical volatilities and correlations calculated over the past 250-day period .the high , low and average measured value-at-risk for the twelve months ended june 30 , 2009 and 2008 related to our foreign exchange and interest rate contracts are as follows: .
[['( in millions )', 'june 30 2009 high', 'june 30 2009 low', 'june 30 2009 average', 'june 30 2009 high', 'june 30 2009 low', 'average'], ['foreign exchange contracts', '$ 28.4', '$ 14.2', '$ 21.6', '$ 18.8', '$ 5.3', '$ 11.3'], ['interest rate contracts', '34.3', '23.0', '29.5', '28.8', '12.6', '20.0']]
the change in the value-at-risk measures from the prior year related to our foreign exchange contracts refl ected an increase in foreign exchange volatilities and a different portfolio mix .the change in the value-at-risk measures from the prior year related to our interest rate contracts refl ected higher interest rate volatilities .the model esti- mates were made assuming normal market conditions and a 95 percent confi dence level .we used a statistical simulation model that valued our derivative fi nancial instruments against one thousand randomly generated market price paths .our calculated value-at-risk exposure represents an esti mate of reasonably possible net losses that would be recognized on our portfolio of derivative fi nancial instru- ments assuming hypothetical movements in future market rates and is not necessarily indicative of actual results , which may or may not occur .it does not represent the maximum possible loss or any expected loss that may occur , since actual future gains and losses will differ from those estimated , based upon actual fl uctuations in market rates , operating exposures , and the timing thereof , and changes in our portfolio of derivative fi nancial instruments during the year .we believe , however , that any such loss incurred would be offset by the effects of market rate movements on the respective underlying transactions for which the deriva- tive fi nancial instrument was intended .off-balance sheet arrangements we do not maintain any off-balance sheet arrangements , transactions , obligations or other relationships with unconsolidated entities that would be expected to have a material current or future effect upon our fi nancial condi- tion or results of operations .recently adopted accounting standards in may 2009 , the financial accounting standards board ( 201cfasb 201d ) issued statement of financial accounting standards ( 201csfas 201d ) no .165 , 201csubsequent events 201d ( 201csfas no .165 201d ) .sfas no .165 requires the disclosure of the date through which an entity has evaluated subsequent events for potential recognition or disclosure in the fi nan- cial statements and whether that date represents the date the fi nancial statements were issued or were available to be issued .this standard also provides clarifi cation about circumstances under which an entity should recognize events or transactions occurring after the balance sheet date in its fi nancial statements and the disclosures that an entity should make about events or transactions that occurred after the balance sheet date .this standard is effective for interim and annual periods beginning with our fi scal year ended june 30 , 2009 .the adoption of this standard did not have a material impact on our consoli- dated fi nancial statements .in march 2008 , the fasb issued sfas no .161 , 201cdisclosures about derivative instruments and hedging activities 2014 an amendment of fasb statement no .133 201d ( 201csfas no .161 201d ) .sfas no .161 requires companies to provide qualitative disclosures about their objectives and strategies for using derivative instruments , quantitative disclosures of the fair values of , and gains and losses on , these derivative instruments in a tabular format , as well as more information about liquidity by requiring disclosure of a derivative contract 2019s credit-risk-related contingent .
|
considering the year 2008 , what is the variation between the high of foreign exchange contracts and the high of the interest rate contracts?
|
5.9
|
{
"answer": "5.9",
"decimal": 5.9,
"type": "float"
}
|
it is the difference between these values.\\n
|
( 1 ) adjusted other income ( expense ) excludes pension settlement charges of $ 37 million , $ 128 million , and $ 220 million , for the years ended 2018 , 2017 , and 2016 , respectively .( 2 ) adjusted items are generally taxed at the estimated annual effective tax rate , except for the applicable tax impact associated with estimated restructuring plan expenses , legacy litigation , accelerated tradename amortization , impairment charges and non-cash pension settlement charges , which are adjusted at the related jurisdictional rates .in addition , tax expense excludes the tax impacts from the sale of certain assets and liabilities previously classified as held for sale as well as the tax adjustments recorded to finalize the 2017 accounting for the enactment date impact of the tax reform act recorded pursuant torr sab 118 .( 3 ) adjusted net income from discontinued operations excludes the gain on sale of discontinued operations of $ 82 million , $ 779 million , and $ 0 million for the years ended 2018 , 2017 , and 2016 , respectively .adjusted net income from discontinued operations excludes intangible asset amortization of $ 0 million , $ 11rr million , and $ 120 million for the twelve months ended december 31 , 2018 , 2017 , and 2016 , respectively .the effective tax rate was further adjusted for the applicable tax impact associated with the gain on sale and intangible asset amortization , as applicable .free cash flow we use free cash flow , defined as cash flow provided by operations minus capital expenditures , as a non-gaap measure of our core operating performance and cash generating capabilities of our business operations .this supplemental information related to free cash flow represents a measure not in accordance with u.s .gaap and should be viewed in addition to , not instead of , our financial statements .the use of this non-gaap measure does not imply or represent the residual cash flow for discretionary expenditures .a reconciliation of this non-gaap measure to cash flow provided by operations is as follows ( in millions ) : .
[['years ended december 31', '2018', '2017', '2016'], ['cash provided by continuing operating activities', '$ 1686', '$ 669', '$ 1829'], ['capital expenditures used for continuing operations', '-240 ( 240 )', '-183 ( 183 )', '-156 ( 156 )'], ['free cash flow provided by continuing operations', '$ 1446', '$ 486', '$ 1673']]
impact of foreign currency exchange rate fluctuations we conduct business in more than 120 countries and sovereignties and , because of this , foreign currency exchange rate fluctuations have a significant impact on our business .foreign currency exchange rate movements may be significant and may distort true period-to-period comparisons of changes in revenue or pretax income .therefore , to give financial statement users meaningful information about our operations , we have provided an illustration of the impact of foreign currency exchange rate fluctuations on our financial results .the methodology used to calculate this impact isolates the impact of the change in currencies between periods by translating the prior year 2019s revenue , expenses , and net income using the current year 2019s foreign currency exchange rates .translating prior year results at current year foreign currency exchange rates , currency fluctuations had a $ 0.08 favorable impact on net income per diluted share during the year ended december 31 , 2018 .currency fluctuations had a $ 0.12 favorable impact on net income per diluted share during the year ended december 31 , 2017 , when 2016 results were translated at 2017 rates .currency fluctuations had no impact on net income per diluted share during the year ended december 31 , 2016 , when 2015 results were translated at 2016 rates .translating prior year results at current year foreign currency exchange rates , currency fluctuations had a $ 0.09 favorable impact on adjusted net income per diluted share during the year ended december 31 , 2018 .currency fluctuations had a $ 0.08 favorable impact on adjusted net income per diluted share during the year ended december 31 , 2017 , when 2016 results were translated at 2017 rates .currency fluctuations had a $ 0.04 unfavorable impact on adjusted net income per diluted share during the year ended december 31 , 2016 , when 2015 results were translated at 2016 rates .these translations are performed for comparative purposes only and do not impact the accounting policies or practices for amounts included in the financial statements .competition and markets authority the u.k . 2019s competition regulator , the competition and markets authority ( the 201ccma 201d ) , conducted a market investigation into the supply and acquisition of investment consulting and fiduciary management services , including those offered by aon and its competitors in the u.k. , to assess whether any feature or combination of features in the target market prevents , restricts , or distorts competition .the cma issued a final report on december 12 , 2018 .the cma will draft a series of orders that will set out the detailed remedies , expected in first quarter of 2019 , when they will be subject to further public consultation .we do not anticipate the remedies to have a significant impact on the company 2019s consolidated financial position or business .financial conduct authority the fca is conducting a market study to assess how effectively competition is working in the wholesale insurance broker sector in the u.k .in which aon , through its subsidiaries , participates .the fca has indicated that the purpose of a market study is to assess the extent to which the market is working well in the interests of customers and to identify features of the market that may impact competition .depending on the study 2019s findings , the fca may require remedies in order to correct any features found .
|
what was the average free cash flow provided by continuing operations from 2016 to 2018 in millions
|
1201
|
{
"answer": "1201",
"decimal": 1201,
"type": "float"
}
|
the average free cash flow provided by continuing operations from 2016 to 2018 was $ 1201.2
|
at the end of 2015 , the company changed the approach used to measure service and interest costs for its u.s .and material international pension and other postretirement benefits .for 2016 , the company elected to measure service and interest costs by applying the specific spot rates along that yield curve to the plans 2019 liability cash flows .the company believes this approach provides a more precise measurement of service and interest costs by aligning the timing of the plans 2019 liability cash flows to the corresponding spot rates on the yield curve .for 2015 , the company measured service and interest costs utilizing a single weighted-average discount rate derived from the yield curve used to measure the plan obligations .the change in approach did not affect the measurement of the company 2019s plan obligations or the funded status .the company has accounted for this change as a change in accounting estimate and , accordingly , has accounted for it on a prospective basis .the expected long-term rate of return used for the u.s .plans is based on the pension plan 2019s asset mix .the company considers expected long-term real returns on asset categories , expectations for inflation , and estimates of the impact of active management of the assets in coming to the final rate to use .the company also considers actual historical returns .the expected long-term rate of return used for the company 2019s international plans is determined in each local jurisdiction and is based on the assets held in that jurisdiction , the expected rate of returns for the type of assets held and any guaranteed rate of return provided by the investment .the other assumptions used to measure the international pension obligations , including discount rate , vary by country based on specific local requirements and information .as previously noted , the measurement date for these plans is november 30 .the company uses most recently available mortality tables as of the respective u.s .and international measurement dates .for postretirement benefit measurement purposes as of december 31 , 2016 , the annual rates of increase in the per capita cost of covered health care were assumed to be 6.75% ( 6.75 % ) for pre-65 costs and 7.25% ( 7.25 % ) for post-65 costs .the rates are assumed to decrease each year until they reach 5% ( 5 % ) in 2023 and remain at those levels thereafter .health care costs for certain employees which are eligible for subsidy by the company are limited by a cap on the subsidy .during the third quarter of 2016 , the compensation committee of the company 2019s board of directors approved moving the u.s .postretirement healthcare plans to a retiree exchange approach , rather than the employee group waiver plan plus wrap program , for post-65 retiree medical coverage beginning in 2018 , and the company informed all eligible legacy ecolab and legacy nalco retirees of the change .as a result of the approval and communication to the beneficiaries , the ecolab and nalco plans were re-measured , resulting in a $ 50 million reduction of postretirement benefit obligations , with a corresponding impact to aoci of $ 31 million , net of tax .the remeasurement was completed using discount rates of 3.29% ( 3.29 % ) and 3.60% ( 3.60 % ) , respectively .additionally , at the time of this remeasurement , the nalco u.s .postretirement health care plan was merged with the ecolab u.s .postretirement health care plan .as a result of these actions , the company 2019s u.s .postretirement health care costs decreased by $ 5 million in 2016 .assumed health care cost trend rates have an effect on the amounts reported for the company 2019s u.s .postretirement health care benefits plan .a one-percentage point change in the assumed health care cost trend rates would have the following effects: .
[['( millions )', '1-percentage point increase', '1-percentage point decrease'], ['effect on total of service and interest cost components', '$ -', '$ -'], ['effect on postretirement benefit obligation', '0.7', '-0.7 ( 0.7 )']]
plan asset management the company 2019s u.s .investment strategy and policies are designed to maximize the possibility of having sufficient funds to meet the long-term liabilities of the pension fund , while achieving a balance between the goals of asset growth of the plan and keeping risk at a reasonable level .current income is not a key goal of the policy .the asset allocation position reflects the company 2019s ability and willingness to accept relatively more short-term variability in the performance of the pension plan portfolio in exchange for the expectation of better long-term returns , lower pension costs and better funded status in the long run .the pension fund is diversified across a number of asset classes and securities .selected individual portfolios within the asset classes may be undiversified while maintaining the diversified nature of total plan assets .the company has no significant concentration of risk in its u.s .plan assets .assets of funded retirement plans outside the u.s .are managed in each local jurisdiction and asset allocation strategy is set in accordance with local rules , regulations and practice .therefore , no overall target asset allocation is presented .although non-u.s .equity securities are all considered international for the company , some equity securities are considered domestic for the local plan .the funds are invested in a variety of equities , bonds and real estate investments and , in some cases , the assets are managed by insurance companies which may offer a guaranteed rate of return .the company has no significant concentration of risk in its international plan assets .the fair value hierarchy is used to categorize investments measured at fair value in one of three levels in the fair value hierarchy .this categorization is based on the observability of the inputs used in valuing the investments .see note 7 for definitions of these levels. .
|
for the ecolab and nalco plan remeasurement , what percentage in the reduction of postretirement benefit obligations created a corresponding impact to aoci?
|
62%
|
{
"answer": "62%",
"decimal": 0.62,
"type": "percentage"
}
| |
table of contents the notional amounts for outstanding derivative instruments provide one measure of the transaction volume outstanding and do not represent the amount of the company 2019s exposure to credit or market loss .the credit risk amounts represent the company 2019s gross exposure to potential accounting loss on derivative instruments that are outstanding or unsettled if all counterparties failed to perform according to the terms of the contract , based on then-current currency or interest rates at each respective date .the company 2019s exposure to credit loss and market risk will vary over time as currency and interest rates change .although the table above reflects the notional and credit risk amounts of the company 2019s derivative instruments , it does not reflect the gains or losses associated with the exposures and transactions that the instruments are intended to hedge .the amounts ultimately realized upon settlement of these financial instruments , together with the gains and losses on the underlying exposures , will depend on actual market conditions during the remaining life of the instruments .the company generally enters into master netting arrangements , which are designed to reduce credit risk by permitting net settlement of transactions with the same counterparty .to further limit credit risk , the company generally enters into collateral security arrangements that provide for collateral to be received or posted when the net fair value of certain financial instruments fluctuates from contractually established thresholds .the company presents its derivative assets and derivative liabilities at their gross fair values in its consolidated balance sheets .the net cash collateral received by the company related to derivative instruments under its collateral security arrangements was $ 1.0 billion as of september 26 , 2015 and $ 2.1 billion as of september 27 , 2014 .under master netting arrangements with the respective counterparties to the company 2019s derivative contracts , the company is allowed to net settle transactions with a single net amount payable by one party to the other .as of september 26 , 2015 and september 27 , 2014 , the potential effects of these rights of set-off associated with the company 2019s derivative contracts , including the effects of collateral , would be a reduction to both derivative assets and derivative liabilities of $ 2.2 billion and $ 1.6 billion , respectively , resulting in net derivative liabilities of $ 78 million and $ 549 million , respectively .accounts receivable receivables the company has considerable trade receivables outstanding with its third-party cellular network carriers , wholesalers , retailers , value-added resellers , small and mid-sized businesses and education , enterprise and government customers .the company generally does not require collateral from its customers ; however , the company will require collateral in certain instances to limit credit risk .in addition , when possible , the company attempts to limit credit risk on trade receivables with credit insurance for certain customers or by requiring third-party financing , loans or leases to support credit exposure .these credit-financing arrangements are directly between the third-party financing company and the end customer .as such , the company generally does not assume any recourse or credit risk sharing related to any of these arrangements .as of september 26 , 2015 , the company had one customer that represented 10% ( 10 % ) or more of total trade receivables , which accounted for 12% ( 12 % ) .as of september 27 , 2014 , the company had two customers that represented 10% ( 10 % ) or more of total trade receivables , one of which accounted for 16% ( 16 % ) and the other 13% ( 13 % ) .the company 2019s cellular network carriers accounted for 71% ( 71 % ) and 72% ( 72 % ) of trade receivables as of september 26 , 2015 and september 27 , 2014 , respectively .vendor non-trade receivables the company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of components to these vendors who manufacture sub-assemblies or assemble final products for the company .the company purchases these components directly from suppliers .vendor non-trade receivables from three of the company 2019s vendors accounted for 38% ( 38 % ) , 18% ( 18 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 26 , 2015 and three of the company 2019s vendors accounted for 51% ( 51 % ) , 16% ( 16 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 27 , 2014 .note 3 2013 consolidated financial statement details the following tables show the company 2019s consolidated financial statement details as of september 26 , 2015 and september 27 , 2014 ( in millions ) : property , plant and equipment , net .
[['', '2015', '2014'], ['land and buildings', '$ 6956', '$ 4863'], ['machinery equipment and internal-use software', '37038', '29639'], ['leasehold improvements', '5263', '4513'], ['gross property plant and equipment', '49257', '39015'], ['accumulated depreciation and amortization', '-26786 ( 26786 )', '-18391 ( 18391 )'], ['total property plant and equipment net', '$ 22471', '$ 20624']]
apple inc .| 2015 form 10-k | 53 .
|
what was the change in leasehold improvements between 2014 and 2015 , in millions?
|
750
|
{
"answer": "750",
"decimal": 750,
"type": "float"
}
| |
five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 .the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2010 and that all dividends were reinvested .the information below is historical in nature and is not necessarily indicative of future performance .purchases of equity securities 2013 during 2015 , we repurchased 36921641 shares of our common stock at an average price of $ 99.16 .the following table presents common stock repurchases during each month for the fourth quarter of 2015 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares remaining under the plan or program [b] .
[['period', 'total number of shares purchased [a]', 'average price paid per share', 'total number of shares purchased as part of a publicly announcedplan or program [b]', 'maximum number of shares remaining under the plan or program [b]'], ['oct . 1 through oct . 31', '3247731', '$ 92.98', '3221153', '56078192'], ['nov . 1 through nov . 30', '2325865', '86.61', '2322992', '53755200'], ['dec . 1 through dec . 31', '1105389', '77.63', '1102754', '52652446'], ['total', '6678985', '$ 88.22', '6646899', 'n/a']]
[a] total number of shares purchased during the quarter includes approximately 32086 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares .[b] effective january 1 , 2014 , our board of directors authorized the repurchase of up to 120 million shares of our common stock by december 31 , 2017 .these repurchases may be made on the open market or through other transactions .our management has sole discretion with respect to determining the timing and amount of these transactions. .
|
for the fourth quarter ended december 31 , 2015 what was the percent of the total number of shares purchased in november
|
34.83%
|
{
"answer": "34.83%",
"decimal": 0.3483,
"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 net fair value of derivatives , in millions?
|
46335
|
{
"answer": "46335",
"decimal": 46335,
"type": "float"
}
| |
entergy corporation and subsidiaries notes to financial statements amount ( in millions ) .
[['', 'amount ( in millions )'], ['plant ( including nuclear fuel )', '$ 727'], ['decommissioning trust funds', '252'], ['other assets', '41'], ['total assets acquired', '1020'], ['purchased power agreement ( below market )', '420'], ['decommissioning liability', '220'], ['other liabilities', '44'], ['total liabilities assumed', '684'], ['net assets acquired', '$ 336']]
subsequent to the closing , entergy received approximately $ 6 million from consumers energy company as part of the post-closing adjustment defined in the asset sale agreement .the post-closing adjustment amount resulted in an approximately $ 6 million reduction in plant and a corresponding reduction in other liabilities .for the ppa , which was at below-market prices at the time of the acquisition , non-utility nuclear will amortize a liability to revenue over the life of the agreement .the amount that will be amortized each period is based upon the difference between the present value calculated at the date of acquisition of each year's difference between revenue under the agreement and revenue based on estimated market prices .amounts amortized to revenue were $ 53 million in 2009 , $ 76 million in 2008 , and $ 50 million in 2007 .the amounts to be amortized to revenue for the next five years will be $ 46 million for 2010 , $ 43 million for 2011 , $ 17 million in 2012 , $ 18 million for 2013 , and $ 16 million for 2014 .nypa value sharing agreements non-utility nuclear's purchase of the fitzpatrick and indian point 3 plants from nypa included value sharing agreements with nypa .in october 2007 , non-utility nuclear and nypa amended and restated the value sharing agreements to clarify and amend certain provisions of the original terms .under the amended value sharing agreements , non-utility nuclear will make annual payments to nypa based on the generation output of the indian point 3 and fitzpatrick plants from january 2007 through december 2014 .non-utility nuclear will pay nypa $ 6.59 per mwh for power sold from indian point 3 , up to an annual cap of $ 48 million , and $ 3.91 per mwh for power sold from fitzpatrick , up to an annual cap of $ 24 million .the annual payment for each year's output is due by january 15 of the following year .non-utility nuclear will record its liability for payments to nypa as power is generated and sold by indian point 3 and fitzpatrick .an amount equal to the liability will be recorded to the plant asset account as contingent purchase price consideration for the plants .in 2009 , 2008 , and 2007 , non-utility nuclear recorded $ 72 million as plant for generation during each of those years .this amount will be depreciated over the expected remaining useful life of the plants .in august 2008 , non-utility nuclear entered into a resolution of a dispute with nypa over the applicability of the value sharing agreements to its fitzpatrick and indian point 3 nuclear power plants after the planned spin-off of the non-utility nuclear business .under the resolution , non-utility nuclear agreed not to treat the separation as a "cessation event" that would terminate its obligation to make the payments under the value sharing agreements .as a result , after the spin-off transaction , enexus will continue to be obligated to make payments to nypa under the amended and restated value sharing agreements. .
|
what percentage of total acquired assets is related to plant acquisition?
|
71.3%
|
{
"answer": "71.3%",
"decimal": 0.713,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 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 .the term of the economic rights agreement is seventy years ; however , tv azteca has the right to purchase , at fair market value , the economic rights from the company at any time during the last fifty years of the agreement .should tv azteca elect to purchase the economic rights ( in whole or in part ) , it would also be obligated to repay a proportional amount of the loan discussed above at the time of such election .the company 2019s obligation to pay tv azteca $ 1.5 million annually would also be reduced proportionally .the company has accounted for the annual payment of $ 1.5 million as a capital lease ( initially recording an asset and a corresponding liability of approximately $ 18.6 million ) .the capital lease asset and the discount on the note , which aggregate approximately $ 30.2 million , represent the cost to acquire the economic rights and are being amortized over the seventy-year life of the economic rights agreement .on a quarterly basis , the company assesses the recoverability of its note receivable from tv azteca .as of december 31 , 2007 and 2006 , the company has assessed the recoverability of the note receivable from tv azteca and concluded that no adjustment to its carrying value is required .a former executive officer and former director of the company served as a director of tv azteca from december 1999 to february 2006 .as of december 31 , 2007 and 2006 , the company also had other long-term notes receivable outstanding of approximately $ 4.3 million and $ 11.0 million , respectively .8 .derivative financial instruments the company enters into interest rate protection agreements to manage exposure on the variable rate debt under its credit facilities and to manage variability in cash flows relating to forecasted interest payments .under these agreements , the company is exposed to credit risk to the extent that a counterparty fails to meet the terms of a contract .such exposure was limited to the current value of the contract at the time the counterparty fails to perform .the company believes its contracts as of december 31 , 2007 and 2006 are with credit worthy institutions .as of december 31 , 2007 and 2006 , the carrying amounts of the company 2019s derivative financial instruments , along with the estimated fair values of the related assets reflected in notes receivable and other long-term assets and ( liabilities ) reflected in other long-term liabilities in the accompanying consolidated balance sheet , are as follows ( in thousands except percentages ) : as of december 31 , 2007 notional amount interest rate term carrying amount and fair value .
[['as of december 31 2007', 'notional amount', 'interest rate', 'term', 'carrying amount and fair value'], ['interest rate swap agreement', '$ 150000', '3.95% ( 3.95 % )', 'expiring in 2009', '$ -369 ( 369 )'], ['interest rate swap agreement', '100000', '4.08% ( 4.08 % )', 'expiring in 2010', '-571 ( 571 )'], ['total', '$ 250000', '', '', '$ -940 ( 940 )']]
.
|
how is cash flow affected by the change in the balance of other long-term notes receivable during 2007?
|
-6.7
|
{
"answer": "-6.7",
"decimal": -6.7,
"type": "float"
}
| |
z i m m e r h o l d i n g s , i n c .a n d s u b s i d i a r i e s 2 0 0 4 f o r m 1 0 - k contractual obligations the company has entered into contracts with various third parties in the normal course of business which will require future payments .the following table illustrates the company 2019s contractual obligations : 2006 2008 2010 and and and contractual obligations total 2005 2007 2009 thereafter .
[['contractual obligations', 'total', '2005', '2006 and 2007', '2008 and 2009', '2010 and thereafter'], ['debt obligations', '$ 651.5', '$ 27.5', '$ 449.0', '$ 175.0', '$ 2013'], ['operating leases', '103.0', '23.5', '34.2', '17.7', '27.6'], ['purchase obligations', '16.1', '15.5', '0.6', '2013', '2013'], ['other long-term liabilities', '420.9', '2013', '135.7', '30.5', '254.7'], ['total contractual obligations', '$ 1191.5', '$ 66.5', '$ 619.5', '$ 223.2', '$ 282.3']]
critical accounting estimates the financial results of the company are affected by the adequate provisions exist for income taxes for all periods and selection and application of accounting policies and methods .jurisdictions subject to review or audit .significant accounting policies which require management 2019s commitments and contingencies 2013 accruals for judgment are discussed below .product liability and other claims are established with excess inventory and instruments 2013 the company internal and external legal counsel based on current must determine as of each balance sheet date how much , if information and historical settlement information for claims , any , of its inventory may ultimately prove to be unsaleable or related fees and for claims incurred but not reported .an unsaleable at its carrying cost .similarly , the company must actuarial model is used by the company to assist also determine if instruments on hand will be put to management in determining an appropriate level of accruals productive use or remain undeployed as a result of excess for product liability claims .historical patterns of claim loss supply .reserves are established to effectively adjust development over time are statistically analyzed to arrive at inventory and instruments to net realizable value .to factors which are then applied to loss estimates in the determine the appropriate level of reserves , the company actuarial model .the amounts established represent evaluates current stock levels in relation to historical and management 2019s best estimate of the ultimate costs that it will expected patterns of demand for all of its products and incur under the various contingencies .instrument systems and components .the basis for the goodwill and intangible assets 2013 the company determination is generally the same for all inventory and evaluates the carrying value of goodwill and indefinite life instrument items and categories except for work-in-progress intangible assets annually , or whenever events or inventory , which is recorded at cost .obsolete or circumstances indicate the carrying value may not be discontinued items are generally destroyed and completely recoverable .the company evaluates the carrying value of written off .management evaluates the need for changes to finite life intangible assets whenever events or circumstances valuation reserves based on market conditions , competitive indicate the carrying value may not be recoverable .offerings and other factors on a regular basis .significant assumptions are required to estimate the fair income taxes 2013 the company estimates income tax value of goodwill and intangible assets , most notably expense and income tax liabilities and assets by taxable estimated future cash flows generated by these assets .jurisdiction .realization of deferred tax assets in each taxable changes to these assumptions could result in the company jurisdiction is dependent on the company 2019s ability to being required to record impairment charges on these assets .generate future taxable income sufficient to realize the benefits .the company evaluates deferred tax assets on an recent accounting pronouncements ongoing basis and provides valuation allowances if it is information about recent accounting pronouncements is determined to be 2018 2018more likely than not 2019 2019 that the deferred tax included in note 2 to the consolidated financial statements , benefit will not be realized .federal income taxes are which are included herein under item 8 .provided on the portion of the income of foreign subsidiaries that is expected to be remitted to the u.s .the company operates within numerous taxing jurisdictions .the company is subject to regulatory review or audit in virtually all of those jurisdictions and those reviews and audits may require extended periods of time to resolve .the company makes use of all available information and makes reasoned judgments regarding matters requiring interpretation in establishing tax expense , liabilities and reserves .the company believes .
|
what percent of total contractual obligations is debt obligations?
|
54.68
|
{
"answer": "54.68",
"decimal": 54.68,
"type": "float"
}
| |
our international networks segment also owns and operates the following regional television networks , which reached the following number of subscribers and viewers via pay and fta or broadcast networks , respectively , as of december 31 , 2017 : television service international subscribers/viewers ( millions ) .
[['', 'television service', 'internationalsubscribers/viewers ( millions )'], ['quest', 'fta', '66'], ['dsport', 'fta', '43'], ['nordic broadcast networks ( a )', 'broadcast', '34'], ['quest red', 'fta', '27'], ['giallo', 'fta', '25'], ['frisbee', 'fta', '25'], ['focus', 'fta', '25'], ['k2', 'fta', '25'], ['nove', 'fta', '25'], ['discovery hd world', 'pay', '17'], ['dkiss', 'pay', '15'], ['shed', 'pay', '12'], ['discovery hd theater', 'pay', '11'], ['discovery history', 'pay', '10'], ['discovery civilization', 'pay', '8'], ['discovery world', 'pay', '6'], ['discovery en espanol ( u.s. )', 'pay', '6'], ['discovery familia ( u.s. )', 'pay', '6'], ['discovery historia', 'pay', '6']]
( a ) number of subscribers corresponds to the sum of the subscribers to each of the nordic broadcast networks in sweden , norway , finland and denmark subject to retransmission agreements with pay-tv providers .the nordic broadcast networks include kanal 5 , kanal 9 , and kanal 11 in sweden , tv norge , max , fem and vox in norway , tv 5 , kutonen , and frii in finland , and kanal 4 , kanal 5 , 6'eren , and canal 9 in denmark .similar to u.s .networks , a significant source of revenue for international networks relates to fees charged to operators who distribute our linear networks .such operators primarily include cable and dth satellite service providers , internet protocol television ( "iptv" ) and over-the-top operators ( "ott" ) .international television markets vary in their stages of development .some markets , such as the u.k. , are more advanced digital television markets , while others remain in the analog environment with varying degrees of investment from operators to expand channel capacity or convert to digital technologies .common practice in international markets results in long-term contractual distribution relationships with terms generally shorter than similar customers in the u.s .distribution revenue for our international networks segment is largely dependent on the number of subscribers that receive our networks or content , the rates negotiated in the distributor agreements , and the market demand for the content that we provide .the other significant source of revenue for international networks relates to advertising sold on our television networks and across other distribution platforms , similar to u.s .networks .advertising revenue is dependent upon a number of factors , including the development of pay and fta television markets , the number of subscribers to and viewers of our channels , viewership demographics , the popularity of our programming , and our ability to sell commercial time over all media platforms .in certain markets , our advertising sales business operates with in-house sales teams , while we rely on external sales representation services in other markets .during 2017 , distribution , advertising and other revenues were 57% ( 57 % ) , 41% ( 41 % ) and 2% ( 2 % ) , respectively , of total net revenues for this segment .while the company has traditionally operated cable networks , in recent years an increasing portion of the company's international advertising revenue is generated by fta or broadcast networks , unlike u.s .networks .during 2017 , fta or broadcast networks generated 54% ( 54 % ) of international networks' advertising revenue and pay-tv networks generated 46% ( 46 % ) of international networks' advertising revenue .international networks' largest cost is content expense for localized programming disseminated via more than 400 unique distribution feeds .while our international networks segment maximizes the use of programming from u.s .networks , we also develop local programming that is tailored to individual market preferences and license the rights to air films , television series and sporting events from third parties .international networks amortizes the cost of capitalized content rights based on the proportion of current estimated revenues relative to the estimated remaining total lifetime revenues , which results in either an accelerated method or a straight-line method over the estimated useful lives of the content of up to five years .content acquired from u.s .networks and content developed locally airing on the same network is amortized similarly , as amortization rates vary by network .more than half of international networks' content is amortized using an accelerated amortization method , while the remainder is amortized on a straight-line basis .the costs for multi-year sports programming arrangements are expensed when the event is broadcast based on the estimated relative value of each component of the arrangement .while international networks and u.s .networks have similarities with respect to the nature of operations , the generation of revenue and the categories of expense , international networks have a lower segment margin due to lower economies of scale from being in over 220 markets requiring additional cost for localization to satisfy market variations .international networks also include sports and fta broadcast channels , which drive higher costs from sports rights and production and investment in broad entertainment programming for broadcast networks .on june 23 , 2016 , the u.k .held a referendum in which voters approved an exit from the european union ( 201ce.u . 201d ) , commonly referred to as 201cbrexit . 201d after a preliminary phase of negotiations towards the end of 2017 , the u.k .government and the e.u .will in 2018 negotiate the main principles of the u.k . 2019s future relationship with the e.u. , as well as a transitional period .brexit may have an adverse impact on advertising , subscribers , distributors and employees , as described in item 1a , risk factors , below .we continue to monitor the situation and plan for potential effects to our distribution and licensing agreements , unusual foreign currency exchange rate fluctuations , and changes to the legal and regulatory landscape .education and other education and other generated revenues of $ 158 million during 2017 , which represented 2% ( 2 % ) of our total consolidated revenues .education is comprised of curriculum-based product and service offerings and generates revenues primarily from subscriptions charged to k-12 schools for access to an online suite of curriculum-based vod tools , professional development services , digital textbooks and , to a lesser extent , student assessments and publication of hard copy curriculum-based content .other is comprised of our wholly-owned production studio , which provides services to our u.s .networks and international networks segments at cost .on february 26 , 2018 , the company announced the planned sale of a controlling equity stake in its education business in the first half of 2018 , to francisco partners for cash of $ 120 million .no loss is expected upon sale .the company will retain an equity interest .additionally , the company will have ongoing license agreements which are considered to be at fair value .as of december 31 , 2017 , the company determined that the education business did not meet the held for sale criteria , as defined in gaap as management had not committed to a plan to sell the assets .on april 28 , 2017 , the company sold raw and betty to all3media .all3media is a u.k .based television , film and digital production and distribution company .the company owns 50% ( 50 % ) of all3media and accounts for its investment in all3media under the equity method of accounting .raw and betty were components of the studios operating segment reported with education and other .on november 12 , 2015 , we paid $ 195 million to acquire 5 million shares , or approximately 3% ( 3 % ) , of lions gate entertainment corp .( "lionsgate" ) , an entertainment company involved in the production of movies and television which is accounted for as an available-for-sale ( "afs" ) security .during 2016 , we determined that the decline in value of our investment in lionsgate is other- than-temporary in nature and , as such , the cost basis was adjusted to the fair value of the investment as of september 30 , 2016 .( see note 4 to the accompanying consolidated financial statements. ) content development our content development strategy is designed to increase viewership , maintain innovation and quality leadership , and provide value for our network distributors and advertising customers .our content is sourced from a wide range of third-party producers , which include some of the world 2019s leading nonfiction production companies , as well as independent producers and wholly-owned production studios .our production arrangements fall into three categories : produced , coproduced and licensed .produced content includes content that we engage third parties or wholly owned production studios to develop and produce .we retain editorial control and own most or all of the rights , in exchange for paying all development and production costs .production of digital-first content such as virtual reality and short-form video is typically done through wholly-owned production studios .coproduced content refers to program rights on which we have collaborated with third parties to finance and develop either because at times world-wide rights are not available for acquisition or we save costs by collaborating with third parties .licensed content is comprised of films or .
|
how many combined subscribers and viewers in millions do the top 2 fta distributed television services quest and dsport have?
|
109
|
{
"answer": "109",
"decimal": 109,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) basis step-up from corporate restructuring represents the tax effects of increasing the basis for tax purposes of certain of the company 2019s assets in conjunction with its spin-off from american radio systems corporation , its former parent company .at december 31 , 2006 , the company had net federal and state operating loss carryforwards available to reduce future taxable income of approximately $ 2.1 billion and $ 2.5 billion , respectively .if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : .
[['years ended december 31,', 'federal', 'state'], ['2007 to 2011', '', '$ 438967'], ['2012 to 2016', '', '478502'], ['2017 to 2021', '$ 617039', '1001789'], ['2022 to 2026', '1476644', '629354'], ['total', '$ 2093683', '$ 2548612']]
sfas no .109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2006 , the company has provided a valuation allowance of approximately $ 308.2 million , including approximately $ 153.6 million attributable to spectrasite , primarily related to net operating loss and capital loss carryforwards assumed as of the acquisition date .the balance of the valuation allowance primarily relates to net state deferred tax assets .the company has not provided a valuation allowance for the remaining deferred tax assets , primarily its federal net operating loss carryforwards , as management believes the company will have sufficient time to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period .valuation allowances may be reversed if related deferred tax assets are deemed realizable based on changes in facts and circumstances relevant to the assets 2019 recoverability .approximately $ 148.3 million of the spectrasite valuation allowances as of december 31 , 2006 will be recorded as a reduction to goodwill if the underlying deferred tax assets are utilized .the company intends to recover a portion of its deferred tax asset through its federal income tax refund claims related to the carry back of certain federal net operating losses .in june 2003 and october 2003 , the company filed federal income tax refund claims with the irs relating to the carry back of $ 380.0 million of net operating losses generated prior to 2003 , of which the company initially anticipated receiving approximately $ 90.0 million .based on preliminary discussions with tax authorities , the company revised its estimate of the net realizable value of the federal income tax refund claims during the year ended december 31 , 2005 , and anticipates receiving a refund of approximately $ 65.0 million , plus interest .the company expects settlement of this matter in the first half of 2007 , however , there can be no assurances with respect to the timing of any refund .because of the uncertainty associated with the claim , the company has not recognized any amounts related to interest .the recoverability of the company 2019s remaining net deferred tax asset has been assessed utilizing stable state ( no growth ) projections based on its current operations .the projections show a significant decrease in depreciation in the later years of the carryforward period as a result of a significant portion of its assets being fully depreciated during the first fifteen years of the carryforward period .accordingly , the recoverability of the net deferred tax asset is not dependent on material improvements to operations , material asset sales or other non-routine transactions .based on its current outlook of future taxable income during the carryforward period , management believes that the net deferred tax asset will be realized .the realization of the company 2019s deferred tax assets as of december 31 , 2006 will be dependent upon its ability to generate approximately $ 1.4 billion in taxable income from january 1 , 2007 to december 31 , 2026 .if the company is unable to generate sufficient taxable income in the future , or carry back losses , as described above , it .
|
what portion of state operating loss carryforwards expire between 2007 and 2011?
|
17.2%
|
{
"answer": "17.2%",
"decimal": 0.172,
"type": "percentage"
}
| |
our operating cash flows are significantly impacted by the seasonality of our businesses .we typically generate most of our operating cash flow in the third and fourth quarters of each year .in june 2015 , we issued $ 900 million of senior notes in a registered public offering .the senior notes consist of two tranches : $ 400 million of five-year notes due 2020 with a coupon of 3% ( 3 % ) and $ 500 million of ten-year notes due 2025 with a coupon of 4% ( 4 % ) .we used the proceeds from the senior notes offering to pay down our revolving credit facility and for general corporate purposes .on december 31 , 2017 , the outstanding amount of the senior notes , net of underwriting commissions and price discounts , was $ 892.6 million .cash flows below is a summary of cash flows for the years ended december 31 , 2017 , 2016 and 2015 .( in millions ) 2017 2016 2015 .
[['( in millions )', '2017', '2016', '2015'], ['net cash provided by operating activities', '$ 600.3', '$ 650.5', '$ 429.2'], ['net cash used in investing activities', '-287.7 ( 287.7 )', '-385.1 ( 385.1 )', '-766.6 ( 766.6 )'], ['net cash ( used in ) provided by financing activities', '-250.1 ( 250.1 )', '-250.4 ( 250.4 )', '398.8'], ['effect of foreign exchange rate changes on cash', '9.0', '-2.0 ( 2.0 )', '-14.8 ( 14.8 )'], ['net increase in cash and cash equivalents', '$ 71.5', '$ 13.0', '$ 46.6']]
net cash provided by operating activities was $ 600.3 million in 2017 compared to $ 650.5 million in 2016 and $ 429.2 million in 2015 .the $ 50.2 million decrease in cash provided by operating activities from 2017 to 2016 was primarily due to higher build in working capital , primarily driven by higher inventory purchases in 2017 , partially offset by a higher net income .the $ 221.3 million increase in cash provided by operating activities from 2015 to 2016 was primarily due to a reduction in working capital in 2016 compared to 2015 and higher net income .net cash used in investing activities was $ 287.7 million in 2017 compared to $ 385.1 million in 2016 and $ 766.6 million in 2015 .the decrease of $ 97.4 million from 2016 to 2017 was primarily due lower cost of acquisitions of $ 115.1 million , partially offset by $ 15.7 million of higher capital expenditures .the decrease of $ 381.5 million from 2015 to 2016 was primarily due the decrease in cost of acquisitions of $ 413.1 million , partially offset by $ 20.8 million of higher capital spending .net cash used in financing activities was $ 250.1 million in 2017 compared to net cash used in financing activities of $ 250.4 million in 2016 and net cash provided by in financing activities of $ 398.8 million in 2015 .the change of $ 649.2 million in 2016 compared to 2015 was primarily due to $ 372.8 million of higher share repurchases and lower net borrowings of $ 240.8 million .pension plans subsidiaries of fortune brands sponsor their respective defined benefit pension plans that are funded by a portfolio of investments maintained within our benefit plan trust .in 2017 , 2016 and 2015 , we contributed $ 28.4 million , zero and $ 2.3 million , respectively , to qualified pension plans .in 2018 , we expect to make pension contributions of approximately $ 12.8 million .as of december 31 , 2017 , the fair value of our total pension plan assets was $ 656.6 million , representing funding of 79% ( 79 % ) of the accumulated benefit obligation liability .for the foreseeable future , we believe that we have sufficient liquidity to meet the minimum funding that may be required by the pension protection act of 2006 .foreign exchange we have operations in various foreign countries , principally canada , china , mexico , the united kingdom , france , australia and japan .therefore , changes in the value of the related currencies affect our financial statements when translated into u.s .dollars. .
|
what was the ratio of the net cash provided by operating activities to the net cash used in investing activities in 2017
|
2.09
|
{
"answer": "2.09",
"decimal": 2.09,
"type": "float"
}
|
the company invested $ 1 for every $ 2.09 earned from operations
|
2016 , as well as significant sponsorship and other marketing agreements entered into during the period after december 31 , 2016 through the date of this report : ( in thousands ) .
[['2017', '$ 176138'], ['2018', '166961'], ['2019', '142987'], ['2020', '124856'], ['2021', '118168'], ['2022 and thereafter', '626495'], ['total future minimum sponsorship and other payments', '$ 1355605']]
total future minimum sponsorship and other payments $ 1355605 the amounts listed above are the minimum compensation obligations and guaranteed royalty fees required to be paid under the company 2019s sponsorship and other marketing agreements .the amounts listed above do not include additional performance incentives and product supply obligations provided under certain agreements .it is not possible to determine how much the company will spend on product supply obligations on an annual basis as contracts generally do not stipulate specific cash amounts to be spent on products .the amount of product provided to the sponsorships depends on many factors including general playing conditions , the number of sporting events in which they participate and the company 2019s 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 .in connection with various contracts and agreements , the company has agreed to indemnify counterparties against certain third party claims relating to the infringement of intellectual property rights and other items .generally , such indemnification obligations do not apply in situations in which the counterparties are grossly negligent , engage in willful misconduct , or act in bad faith .based on the company 2019s historical experience and the estimated probability of future loss , the company has determined that the fair value of such indemnifications is not material to its consolidated financial position or results of operations .from time to time , the company is involved in litigation and other proceedings , including matters related to commercial and intellectual property disputes , as well as trade , regulatory and other claims related to its business .other than as described below , the company believes that all current proceedings are routine in nature and incidental to the conduct of its business , and that the ultimate resolution of any such proceedings will not have a material adverse effect on its consolidated financial position , results of operations or cash flows .on february 10 , 2017 , a shareholder filed a securities case in the united states district court for the district of maryland ( the 201ccourt 201d ) against the company , the company 2019s chief executive officer and the company 2019s former chief financial officer ( brian breece v .under armour , inc. ) .on february 16 , 2017 , a second shareholder filed a securities case in the court against the same defendants ( jodie hopkins v .under armour , inc. ) .the plaintiff in each case purports to represent a class of shareholders for the period between april 21 , 2016 and january 30 , 2017 , inclusive .the complaints allege violations of section 10 ( b ) ( and rule 10b-5 ) of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) and section 20 ( a ) control person liability under the exchange act against the officers named in the complaints .in general , the allegations in each case concern disclosures and statements made by .
|
what percentage of total future minimum sponsorship and other payments are scheduled for 2019?
|
11%
|
{
"answer": "11%",
"decimal": 0.11,
"type": "percentage"
}
| |
entergy corporation and subsidiaries notes to financial statements equitable discretion and not require refunds for the 20-month period from september 13 , 2001 - may 2 , 2003 .because the ruling on refunds relied on findings in the interruptible load proceeding , which is discussed in a separate section below , the ferc concluded that the refund ruling will be held in abeyance pending the outcome of the rehearing requests in that proceeding .on the second issue , the ferc reversed its prior decision and ordered that the prospective bandwidth remedy begin on june 1 , 2005 ( the date of its initial order in the proceeding ) rather than january 1 , 2006 , as it had previously ordered .pursuant to the october 2011 order , entergy was required to calculate the additional bandwidth payments for the period june - december 2005 utilizing the bandwidth formula tariff prescribed by the ferc that was filed in a december 2006 compliance filing and accepted by the ferc in an april 2007 order .as is the case with bandwidth remedy payments , these payments and receipts will ultimately be paid by utility operating company customers to other utility operating company customers .in december 2011 , entergy filed with the ferc its compliance filing that provides the payments and receipts among the utility operating companies pursuant to the ferc 2019s october 2011 order .the filing shows the following payments/receipts among the utility operating companies : payments ( receipts ) ( in millions ) .
[['', 'payments ( receipts ) ( in millions )'], ['entergy arkansas', '$ 156'], ['entergy gulf states louisiana', '( $ 75 )'], ['entergy louisiana', '$ 2014'], ['entergy mississippi', '( $ 33 )'], ['entergy new orleans', '( $ 5 )'], ['entergy texas', '( $ 43 )']]
entergy arkansas made its payment in january 2012 .in february 2012 , entergy arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $ 156 million payment be collected from customers over the 22-month period from march 2012 through december 2013 .in march 2012 the apsc issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider , subject to refund .the lpsc and the apsc have requested rehearing of the ferc 2019s october 2011 order .in december 2013 the lpsc filed a petition for a writ of mandamus at the united states court of appeals for the d.c .circuit .in its petition , the lpsc requested that the d.c .circuit issue an order compelling the ferc to issue a final order on pending rehearing requests .in its response to the lpsc petition , the ferc committed to rule on the pending rehearing request before the end of february .in january 2014 the d.c .circuit denied the lpsc's petition .the apsc , the lpsc , the puct , and other parties intervened in the december 2011 compliance filing proceeding , and the apsc and the lpsc also filed protests .calendar year 2013 production costs the liabilities and assets for the preliminary estimate of the payments and receipts required to implement the ferc 2019s remedy based on calendar year 2013 production costs were recorded in december 2013 , based on certain year-to-date information .the preliminary estimate was recorded based on the following estimate of the payments/receipts among the utility operating companies for 2014. .
|
what portion of the entergy arkansas payment goes to entergy mississippi?
|
21.2%
|
{
"answer": "21.2%",
"decimal": 0.212,
"type": "percentage"
}
| |
united parcel service , inc .and subsidiaries management's discussion and analysis of financial condition and results of operations liquidity and capital resources operating activities the following is a summary of the significant sources ( uses ) of cash from operating activities ( amounts in millions ) : .
[['', '2013', '2012', '2011'], ['net income', '$ 4372', '$ 807', '$ 3804'], ['non-cash operating activities ( a )', '3318', '7313', '4578'], ['pension and postretirement plan contributions ( ups-sponsored plans )', '-212 ( 212 )', '-917 ( 917 )', '-1436 ( 1436 )'], ['income tax receivables and payables', '-155 ( 155 )', '280', '236'], ['changes in working capital and other noncurrent assets and liabilities', '121', '-148 ( 148 )', '-12 ( 12 )'], ['other operating activities', '-140 ( 140 )', '-119 ( 119 )', '-97 ( 97 )'], ['net cash from operating activities', '$ 7304', '$ 7216', '$ 7073']]
( a ) represents depreciation and amortization , gains and losses on derivative and foreign exchange transactions , deferred income taxes , provisions for uncollectible accounts , pension and postretirement benefit expense , stock compensation expense , impairment charges and other non-cash items .cash from operating activities remained strong throughout the 2011 to 2013 time period .operating cash flow was favorably impacted in 2013 , compared with 2012 , by lower contributions into our defined benefit pension and postretirement benefit plans ; however , this was partially offset by certain tnt express transaction-related charges , as well as changes in income tax receivables and payables .we paid a termination fee to tnt express of 20ac200 million ( $ 268 million ) under the agreement to terminate the merger protocol in the first quarter of 2013 .additionally , the cash payments for income taxes increased in 2013 compared with 2012 , and were impacted by the timing of current tax deductions .except for discretionary or accelerated fundings of our plans , contributions to our company-sponsored pension plans have largely varied based on whether any minimum funding requirements are present for individual pension plans .2022 in 2013 , we did not have any required , nor make any discretionary , contributions to our primary company-sponsored pension plans in the u.s .2022 in 2012 , we made a $ 355 million required contribution to the ups ibt pension plan .2022 in 2011 , we made a $ 1.2 billion contribution to the ups ibt pension plan , which satisfied our 2011 contribution requirements and also approximately $ 440 million in contributions that would not have been required until after 2011 .2022 the remaining contributions in the 2011 through 2013 period were largely due to contributions to our international pension plans and u.s .postretirement medical benefit plans .as discussed further in the 201ccontractual commitments 201d section , we have minimum funding requirements in the next several years , primarily related to the ups ibt pension , ups retirement and ups pension plans .as of december 31 , 2013 , the total of our worldwide holdings of cash and cash equivalents was $ 4.665 billion .approximately 45%-55% ( 45%-55 % ) of cash and cash equivalents was held by foreign subsidiaries throughout the year .the amount of cash held by our u.s .and foreign subsidiaries fluctuates throughout the year due to a variety of factors , including the timing of cash receipts and disbursements in the normal course of business .cash provided by operating activities in the united states continues to be our primary source of funds to finance domestic operating needs , capital expenditures , share repurchases and dividend payments to shareowners .to the extent that such amounts represent previously untaxed earnings , the cash held by foreign subsidiaries would be subject to tax if such amounts were repatriated in the form of dividends ; however , not all international cash balances would have to be repatriated in the form of a dividend if returned to the u.s .when amounts earned by foreign subsidiaries are expected to be indefinitely reinvested , no accrual for taxes is provided. .
|
what percentage of net cash from operating activities was derived from non-cash operating activities in 2012?
|
101%
|
{
"answer": "101%",
"decimal": 1.01,
"type": "percentage"
}
| |
strategy to provide omni-channel solutions that combine gateway services , payment service provisioning and merchant acquiring across europe .this transaction was accounted for as a business combination .we recorded the assets acquired , liabilities assumed and noncontrolling interest at their estimated fair values as of the acquisition date .in connection with the acquisition of realex , we paid a transaction-related tax of $ 1.2 million .other acquisition costs were not material .the revenue and earnings of realex for the year ended may 31 , 2015 were not material nor were the historical revenue and earnings of realex material for the purpose of presenting pro forma information for the current or prior-year periods .the estimated acquisition date fair values of the assets acquired , liabilities assumed and the noncontrolling interest , including a reconciliation to the total purchase consideration , are as follows ( in thousands ) : .
[['cash', '$ 4082'], ['customer-related intangible assets', '16079'], ['acquired technology', '39820'], ['trade name', '3453'], ['other intangible assets', '399'], ['other assets', '6213'], ['liabilities', '-3479 ( 3479 )'], ['deferred income tax liabilities', '-7216 ( 7216 )'], ['total identifiable net assets', '59351'], ['goodwill', '66809'], ['noncontrolling interest', '-7280 ( 7280 )'], ['total purchase consideration', '$ 118880']]
goodwill of $ 66.8 million arising from the acquisition , included in the europe segment , was attributable to expected growth opportunities in europe , potential synergies from combining our existing business with gateway services and payment service provisioning in certain markets and an assembled workforce to support the newly acquired technology .goodwill associated with this acquisition is not deductible for income tax purposes .the customer-related intangible assets have an estimated amortization period of 16 years .the acquired technology has an estimated amortization period of 10 years .the trade name has an estimated amortization period of 7 years .on october 5 , 2015 , we paid 20ac6.7 million ( $ 7.5 million equivalent as of october 5 , 2015 ) to acquire the remaining shares of realex after which we own 100% ( 100 % ) of the outstanding shares .ezidebit on october 10 , 2014 , we completed the acquisition of 100% ( 100 % ) of the outstanding stock of ezi holdings pty ltd ( 201cezidebit 201d ) for aud302.6 million in cash ( $ 266.0 million equivalent as of the acquisition date ) .this acquisition was funded by a combination of cash on hand and borrowings on our revolving credit facility .ezidebit is a leading integrated payments company focused on recurring payments verticals in australia and new zealand .ezidebit markets its services through a network of integrated software vendors and direct channels to numerous vertical markets .we acquired ezidebit to establish a direct distribution channel in australia and new zealand and to further enhance our existing integrated solutions offerings .this transaction was accounted for as a business combination .we recorded the assets acquired and liabilities assumed at their estimated fair values as of the acquisition date .certain adjustments to estimated fair value were recorded during the year ended may 31 , 2016 based on new information obtained that existed as of the acquisition date .during the measurement period , management determined that deferred income taxes should be reflected for certain nondeductible intangible assets .measurement-period adjustments , which are reflected in the table below , had no material effect on earnings or other comprehensive income for the current or prior periods .the revenue and earnings of ezidebit global payments inc .| 2016 form 10-k annual report 2013 69 .
|
what percentage of the total purchase consideration is comprised of acquired technology?
|
33%
|
{
"answer": "33%",
"decimal": 0.33,
"type": "percentage"
}
| |
notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) assumptions can materially affect the estimate of fair value , and our results of operations could be materially impacted .there were no stock options granted during the years ended december 31 , 2015 and 2014 .the weighted-average grant-date fair value per option during the year ended december 31 , 2013 was $ 4.14 .the fair value of each option grant has been estimated with the following weighted-average assumptions. .
[['', 'year ended december 31 2013'], ['expected volatility1', '40.2% ( 40.2 % )'], ['expected term ( years ) 2', '6.9'], ['risk-free interest rate3', '1.3% ( 1.3 % )'], ['expected dividend yield4', '2.4% ( 2.4 % )']]
expected volatility 1 ...........................40.2% ( 40.2 % ) expected term ( years ) 2 ........................6.9 risk-free interest rate 3 .........................1.3% ( 1.3 % ) expected dividend yield 4 .......................2.4% ( 2.4 % ) 1 the expected volatility used to estimate the fair value of stock options awarded is based on a blend of : ( i ) historical volatility of our common stock for periods equal to the expected term of our stock options and ( ii ) implied volatility of tradable forward put and call options to purchase and sell shares of our common stock .2 the estimate of our expected term is based on the average of : ( i ) an assumption that all outstanding options are exercised upon achieving their full vesting date and ( ii ) an assumption that all outstanding options will be exercised at the midpoint between the current date ( i.e. , the date awards have ratably vested through ) and their full contractual term .in determining the estimate , we considered several factors , including the historical option exercise behavior of our employees and the terms and vesting periods of the options .3 the risk-free interest rate is determined using the implied yield currently available for zero-coupon u.s .government issuers with a remaining term equal to the expected term of the options .4 the expected dividend yield was calculated based on an annualized dividend of $ 0.30 per share in 2013 .stock-based compensation we grant other stock-based compensation awards such as stock-settled awards , cash-settled awards and performance- based awards ( settled in cash or shares ) to certain key employees .the number of shares or units received by an employee for performance-based awards depends on company performance against specific performance targets and could range from 0% ( 0 % ) to 300% ( 300 % ) of the target amount of shares originally granted .incentive awards are subject to certain restrictions and vesting requirements as determined by the compensation committee .the fair value of the shares on the grant date is amortized over the vesting period , which is generally three years .upon completion of the vesting period for cash-settled awards , the grantee is entitled to receive a payment in cash based on the fair market value of the corresponding number of shares of common stock .no monetary consideration is paid by a recipient for any incentive award .the fair value of cash-settled awards is adjusted each quarter based on our share price .the holders of stock-settled awards have absolute ownership interest in the underlying shares of common stock prior to vesting , which includes the right to vote and receive dividends .dividends declared on common stock are accrued during the vesting period and paid when the award vests .the holders of cash-settled and performance-based awards have no ownership interest in the underlying shares of common stock until the awards vest and the shares of common stock are issued. .
|
what is the stock price based on the dividend yield at the time that dividends were declared?
|
12.5
|
{
"answer": "12.5",
"decimal": 12.5,
"type": "float"
}
| |
notes to consolidated financial statements ( continued ) note 3 2014financial instruments ( continued ) accounts receivable trade receivables the company distributes its products through third-party distributors and resellers and directly to certain education , consumer , and commercial customers .the company generally does not require collateral from its customers ; however , the company will require collateral in certain instances to limit credit risk .in addition , when possible , the company does attempt to limit credit risk on trade receivables with credit insurance for certain customers in latin america , europe , asia , and australia and by arranging with third- party financing companies to provide flooring arrangements and other loan and lease programs to the company 2019s direct customers .these credit-financing arrangements are directly between the third-party financing company and the end customer .as such , the company generally does not assume any recourse or credit risk sharing related to any of these arrangements .however , considerable trade receivables that are not covered by collateral , third-party flooring arrangements , or credit insurance are outstanding with the company 2019s distribution and retail channel partners .no customer accounted for more than 10% ( 10 % ) of trade receivables as of september 30 , 2006 or september 24 , 2005 .the following table summarizes the activity in the allowance for doubtful accounts ( in millions ) : september 30 , september 24 , september 25 .
[['', 'september 30 2006', 'september 24 2005', 'september 25 2004'], ['beginning allowance balance', '$ 46', '$ 47', '$ 49'], ['charged to costs and expenses', '17', '8', '3'], ['deductions ( a )', '-11 ( 11 )', '-9 ( 9 )', '-5 ( 5 )'], ['ending allowance balance', '$ 52', '$ 46', '$ 47']]
( a ) represents amounts written off against the allowance , net of recoveries .vendor non-trade receivables the company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of raw material components to these manufacturing vendors who manufacture sub-assemblies or assemble final products for the company .the company purchases these raw material components directly from suppliers .these non-trade receivables , which are included in the consolidated balance sheets in other current assets , totaled $ 1.6 billion and $ 417 million as of september 30 , 2006 and september 24 , 2005 , respectively .the company does not reflect the sale of these components in net sales and does not recognize any profits on these sales until the products are sold through to the end customer at which time the profit is recognized as a reduction of cost of sales .derivative financial instruments the company uses derivatives to partially offset its business exposure to foreign exchange risk .foreign currency forward and option contracts are used to offset the foreign exchange risk on certain existing assets and liabilities and to hedge the foreign exchange risk on expected future cash flows on certain forecasted revenue and cost of sales .from time to time , the company enters into interest rate derivative agreements to modify the interest rate profile of certain investments and debt .the company 2019s accounting policies for these instruments are based on whether the instruments are designated as hedge or non-hedge instruments .the company records all derivatives on the balance sheet at fair value. .
|
by how much did the allowance for doubtful accounts increase from 2005 to 2006?
|
13.0%
|
{
"answer": "13.0%",
"decimal": 0.13,
"type": "percentage"
}
| |
entergy mississippi , inc .management's financial discussion and analysis sources of capital entergy mississippi's sources to meet its capital requirements include : internally generated funds ; cash on hand ; debt or preferred stock issuances ; and bank financing under new or existing facilities .entergy mississippi may refinance or redeem debt and preferred stock prior to maturity , to the extent market conditions and interest and dividend rates are favorable .all debt and common and preferred stock issuances by entergy mississippi require prior regulatory approval .preferred stock and debt issuances are also subject to issuance tests set forth in its corporate charter , bond indenture , and other agreements .entergy mississippi has sufficient capacity under these tests to meet its foreseeable capital needs .entergy mississippi has two separate credit facilities in the aggregate amount of $ 50 million and renewed both facilities through may 2009 .borrowings under the credit facilities may be secured by a security interest in entergy mississippi's accounts receivable .no borrowings were outstanding under either credit facility as of december 31 , 2008 .entergy mississippi has obtained short-term borrowing authorization from the ferc under which it may borrow through march 31 , 2010 , up to the aggregate amount , at any one time outstanding , of $ 175 million .see note 4 to the financial statements for further discussion of entergy mississippi's short-term borrowing limits .entergy mississippi has also obtained an order from the ferc authorizing long-term securities issuances .the current long-term authorization extends through june 30 , 2009 .entergy mississippi's receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .
[['2008', '2007', '2006', '2005'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['( $ 66044 )', '$ 20997', '$ 39573', '( $ 84066 )']]
in may 2007 , $ 6.6 million of entergy mississippi's receivable from the money pool was replaced by a note receivable from entergy new orleans .see note 4 to the financial statements for a description of the money pool .state and local rate regulation the rates that entergy mississippi charges for electricity significantly influence its financial position , results of operations , and liquidity .entergy mississippi is regulated and the rates charged to its customers are determined in regulatory proceedings .a governmental agency , the mpsc , is primarily responsible for approval of the rates charged to customers .formula rate plan in march 2008 , entergy mississippi made its annual scheduled formula rate plan filing for the 2007 test year with the mpsc .the filing showed that a $ 10.1 million increase in annual electric revenues is warranted .in june 2008 , entergy mississippi reached a settlement with the mississippi public utilities staff that would result in a $ 3.8 million rate increase .in january 2009 the mpsc rejected the settlement and left the current rates in effect .entergy mississippi appealed the mpsc's decision to the mississippi supreme court. .
|
how is the cash flow of entergy mississippi affected by the balance in money pool from 2006 to 2007?
|
18576
|
{
"answer": "18576",
"decimal": 18576,
"type": "float"
}
| |
shareholder return performance presentation the graph presented below compares the cumulative total shareholder return on state street's common stock to the cumulative total return of the s&p 500 index and the s&p financial index over a five-year period .the cumulative total shareholder return assumes the investment of $ 100 in state street common stock and in each index on december 31 , 2007 at the closing price on the last trading day of 2007 , and also assumes reinvestment of common stock dividends .the s&p financial index is a publicly available measure of 80 of the standard & poor's 500 companies , representing 26 diversified financial services companies , 22 insurance companies , 17 real estate companies and 15 banking companies .comparison of five-year cumulative total shareholder return .
[['', '2007', '2008', '2009', '2010', '2011', '2012'], ['state street corporation', '$ 100', '$ 49', '$ 55', '$ 58', '$ 52', '$ 61'], ['s&p 500 index', '100', '63', '80', '92', '94', '109'], ['s&p financial index', '100', '45', '52', '59', '49', '63']]
.
|
what is the percent change in state street corporation's cumulative total shareholder return on common stock between 2008 and 2009?
|
-11%
|
{
"answer": "-11%",
"decimal": -0.11,
"type": "percentage"
}
| |
table of contents the foreign provision for income taxes is based on foreign pre-tax earnings of $ 33.6 billion , $ 30.5 billion and $ 36.8 billion in 2014 , 2013 and 2012 , respectively .the company 2019s consolidated financial statements provide for any related tax liability on undistributed earnings that the company does not intend to be indefinitely reinvested outside the u.s .substantially all of the company 2019s undistributed international earnings intended to be indefinitely reinvested in operations outside the u.s .were generated by subsidiaries organized in ireland , which has a statutory tax rate of 12.5% ( 12.5 % ) .as of september 27 , 2014 , u.s .income taxes have not been provided on a cumulative total of $ 69.7 billion of such earnings .the amount of unrecognized deferred tax liability related to these temporary differences is estimated to be approximately $ 23.3 billion .as of september 27 , 2014 and september 28 , 2013 , $ 137.1 billion and $ 111.3 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s .dollar-denominated holdings .amounts held by foreign subsidiaries are generally subject to u.s .income taxation on repatriation to the u.s .a reconciliation of the provision for income taxes , with the amount computed by applying the statutory federal income tax rate ( 35% ( 35 % ) in 2014 , 2013 and 2012 ) to income before provision for income taxes for 2014 , 2013 and 2012 , is as follows ( dollars in millions ) : the company 2019s income taxes payable have been reduced by the tax benefits from employee stock plan awards .for stock options , the company receives an income tax benefit calculated as the tax effect of the difference between the fair market value of the stock issued at the time of the exercise and the exercise price .for rsus , the company receives an income tax benefit upon the award 2019s vesting equal to the tax effect of the underlying stock 2019s fair market value .the company had net excess tax benefits from equity awards of $ 706 million , $ 643 million and $ 1.4 billion in 2014 , 2013 and 2012 , respectively , which were reflected as increases to common stock .apple inc .| 2014 form 10-k | 64 .
[['', '2014', '2013', '2012'], ['computed expected tax', '$ 18719', '$ 17554', '$ 19517'], ['state taxes net of federal effect', '469', '508', '677'], ['indefinitely invested earnings of foreign subsidiaries', '-4744 ( 4744 )', '-4614 ( 4614 )', '-5895 ( 5895 )'], ['research and development credit net', '-88 ( 88 )', '-287 ( 287 )', '-103 ( 103 )'], ['domestic production activities deduction', '-495 ( 495 )', '-308 ( 308 )', '-328 ( 328 )'], ['other', '112', '265', '162'], ['provision for income taxes', '$ 13973', '$ 13118', '$ 14030'], ['effective tax rate', '26.1% ( 26.1 % )', '26.2% ( 26.2 % )', '25.2% ( 25.2 % )']]
.
|
what was the highest effective tax rate , as a percentage?
|
26.2
|
{
"answer": "26.2",
"decimal": 26.2,
"type": "float"
}
| |
remitted to the u.s .due to foreign tax credits and exclusions that may become available at the time of remittance .at december 31 , 2010 , aon had domestic federal operating loss carryforwards of $ 56 million that will expire at various dates from 2011 to 2024 , state operating loss carryforwards of $ 610 million that will expire at various dates from 2011 to 2031 , and foreign operating and capital loss carryforwards of $ 720 million and $ 251 million , respectively , nearly all of which are subject to indefinite carryforward .unrecognized tax provisions the following is a reconciliation of the company 2019s beginning and ending amount of unrecognized tax benefits ( in millions ) : .
[['', '2010', '2009'], ['balance at january 1', '$ 77', '$ 86'], ['additions based on tax positions related to the current year', '7', '2'], ['additions for tax positions of prior years', '4', '5'], ['reductions for tax positions of prior years', '-7 ( 7 )', '-11 ( 11 )'], ['settlements', '-1 ( 1 )', '-10 ( 10 )'], ['lapse of statute of limitations', '-5 ( 5 )', '-3 ( 3 )'], ['acquisitions', '26', '6'], ['foreign currency translation', '-1 ( 1 )', '2'], ['balance at december 31', '$ 100', '$ 77']]
as of december 31 , 2010 , $ 85 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 , except for a potential reduction of unrecognized tax benefits in the range of $ 10-$ 15 million relating to anticipated audit settlements .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 2010 , 2009 and 2008 .aon accrued interest of less than $ 1 million in 2010 , $ 2 million during 2009 and less than $ 1 million in 2008 .aon has recorded a liability for penalties of $ 5 million and for interest of $ 18 million for both december 31 , 2010 and 2009 .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 2004. .
|
what was the average accrued interest by aon from 2009 to 2010 in millions
|
1.5
|
{
"answer": "1.5",
"decimal": 1.5,
"type": "float"
}
| |
2009 vs .2008 revenues , net of interest expense increased 11% ( 11 % ) or $ 2.7 billion , as markets began to recover in the early part of 2009 , bringing back higher levels of volume activity and higher levels of liquidity , which began to decline again in the third quarter of 2009 .the growth in revenue in the early part of the year was mainly due to a $ 7.1 billion increase in fixed income markets , reflecting strong trading opportunities across all asset classes in the first half of 2009 , and a $ 1.5 billion increase in investment banking revenue primarily from increases in debt and equity underwriting activities reflecting higher transaction volumes from depressed 2008 levels .these increases were offset by a $ 6.4 billion decrease in lending revenue primarily from losses on credit default swap hedges .excluding the 2009 and 2008 cva impact , as indicated in the table below , revenues increased 23% ( 23 % ) or $ 5.5 billion .operating expenses decreased 17% ( 17 % ) , or $ 2.7 billion .excluding the 2008 repositioning and restructuring charges and the 2009 litigation reserve release , operating expenses declined 11% ( 11 % ) or $ 1.6 billion , mainly as a result of headcount reductions and benefits from expense management .provisions for loan losses and for benefits and claims decreased 7% ( 7 % ) or $ 129 million , to $ 1.7 billion , mainly due to lower credit reserve builds and net credit losses , due to an improved credit environment , particularly in the latter part of the year .2008 vs .2007 revenues , net of interest expense decreased 2% ( 2 % ) or $ 0.4 billion reflecting the overall difficult market conditions .excluding the 2008 and 2007 cva impact , revenues decreased 3% ( 3 % ) or $ 0.6 billion .the reduction in revenue was primarily due to a decrease in investment banking revenue of $ 2.3 billion to $ 3.2 billion , mainly in debt and equity underwriting , reflecting lower volumes , and a decrease in equity markets revenue of $ 2.3 billion to $ 2.9 billion due to extremely high volatility and reduced levels of activity .these reductions were offset by an increase in fixed income markets of $ 2.9 billion to $ 14.4 billion due to strong performance in interest rates and currencies , and an increase in lending revenue of $ 2.4 billion to $ 4.2 billion mainly from gains on credit default swap hedges .operating expenses decreased by 2% ( 2 % ) or $ 0.4 billion .excluding the 2008 and 2007 repositioning and restructuring charges and the 2007 litigation reserve reversal , operating expenses decreased by 7% ( 7 % ) or $ 1.1 billion driven by headcount reduction and lower performance-based incentives .provisions for credit losses and for benefits and claims increased $ 1.3 billion to $ 1.8 billion mainly from higher credit reserve builds and net credit losses offset by a lower provision for unfunded lending commitments due to deterioration in the credit environment .certain revenues impacting securities and banking items that impacted s&b revenues during 2009 and 2008 are set forth in the table below. .
[['in millions of dollars', 'pretax revenue 2009', 'pretax revenue 2008'], ['private equity and equity investments', '$ 201', '$ -377 ( 377 )'], ['alt-a mortgages ( 1 ) ( 2 )', '321', '-737 ( 737 )'], ['commercial real estate ( cre ) positions ( 1 ) ( 3 )', '68', '270'], ['cva on citi debt liabilities under fair value option', '-3974 ( 3974 )', '4325'], ['cva on derivatives positions excluding monoline insurers', '2204', '-3292 ( 3292 )'], ['total significant revenue items', '$ -1180 ( 1180 )', '$ 189']]
( 1 ) net of hedges .( 2 ) for these purposes , alt-a mortgage securities are non-agency residential mortgage-backed securities ( rmbs ) where ( i ) the underlying collateral has weighted average fico scores between 680 and 720 or ( ii ) for instances where fico scores are greater than 720 , rmbs have 30% ( 30 % ) or less of the underlying collateral composed of full documentation loans .see 201cmanaging global risk 2014credit risk 2014u.s .consumer mortgage lending . 201d ( 3 ) s&b 2019s commercial real estate exposure is split into three categories of assets : held at fair value ; held- to-maturity/held-for-investment ; and equity .see 201cmanaging global risk 2014credit risk 2014exposure to commercial real estate 201d section for a further discussion .in the table above , 2009 includes a $ 330 million pretax adjustment to the cva balance , which reduced pretax revenues for the year , reflecting a correction of an error related to prior periods .see 201csignificant accounting policies and significant estimates 201d below and notes 1 and 34 to the consolidated financial statements for a further discussion of this adjustment .2010 outlook the 2010 outlook for s&b will depend on the level of client activity and on macroeconomic conditions , market valuations and volatility , interest rates and other market factors .management of s&b currently expects to maintain client activity throughout 2010 and to operate in market conditions that offer moderate volatility and increased liquidity .operating expenses will benefit from continued re-engineering and expense management initiatives , but will be offset by investments in talent and infrastructure to support growth. .
|
what was the change in millions of alt-a mortgages pretax revenue from 2008 to 2009?
|
1058
|
{
"answer": "1058",
"decimal": 1058,
"type": "float"
}
| |
pre-construction costs , interim dam safety measures and environmental costs and construction costs .the authorized costs were being recovered via a surcharge over a twenty-year period which began in october 2012 .the unrecovered balance of project costs incurred , including cost of capital , net of surcharges totaled $ 85 million and $ 89 million as of december 31 , 2018 and 2017 , respectively .surcharges collected were $ 8 million and $ 7 million for the years ended december 31 , 2018 and 2017 , respectively .pursuant to the general rate case approved in december 2018 , approval was granted to reset the twenty-year amortization period to begin january 1 , 2018 and to establish an annual revenue requirement of $ 8 million to be recovered through base rates .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 utility subsidiary in california during 2002 , and acquisitions in 2007 by the company 2019s utility subsidiary in new jersey .as authorized for recovery by the california and new jersey pucs , these costs are being amortized to depreciation and amortization on the consolidated statements of operations through november 2048 .tank painting costs are generally deferred and amortized to operations and maintenance expense on 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 .as a result of the prepayment by american water capital corp. , the company 2019s wholly owned finance subsidiary ( 201cawcc 201d ) , of the 5.62% ( 5.62 % ) series c senior notes due upon maturity on december 21 , 2018 ( the 201cseries c notes 201d ) , 5.62% ( 5.62 % ) series e senior notes due march 29 , 2019 ( the 201cseries e notes 201d ) and 5.77% ( 5.77 % ) series f senior notes due december 21 , 2022 ( the 201cseries f notes , 201d and together with the series e notes , the 201cseries notes 201d ) , a make-whole premium of $ 10 million was paid to the holders of the series notes on september 11 , 2018 .substantially all of these early debt extinguishment costs were allocable to the company 2019s utility subsidiaries and recorded as regulatory assets , as the company believes they are probable of recovery in future rates .other regulatory assets include certain construction costs for treatment facilities , property tax stabilization , employee-related costs , deferred other postretirement benefit expense , business services project expenses , coastal water project costs , rate case expenditures and environmental remediation costs among others .these costs are deferred because the amounts are being recovered in rates or are probable of recovery through rates in future periods .regulatory liabilities regulatory liabilities generally represent amounts that are probable of being credited or refunded to customers through the rate-making process .also , if costs expected to be incurred in the future are currently being recovered through rates , the company records those expected future costs as regulatory liabilities .the following table provides the composition of regulatory liabilities as of december 31: .
[['', '2018', '2017'], ['income taxes recovered through rates', '$ 1279', '$ 1242'], ['removal costs recovered through rates', '309', '315'], ['postretirement benefit liability', '209', '33'], ['pension and other postretirement benefit balancing accounts', '46', '48'], ['tcja reserve on revenue', '36', '2014'], ['other', '28', '26'], ['total regulatory liabilities', '$ 1907', '$ 1664']]
.
|
what was the change in postretirement benefit liability in millions?
|
176
|
{
"answer": "176",
"decimal": 176,
"type": "float"
}
| |
long-term product offerings include active and index strategies .our active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile .we offer two types of active strategies : those that rely primarily on fundamental research and those that utilize primarily quantitative models to drive portfolio construction .in contrast , index strategies seek to closely track the returns of a corresponding index , generally by investing in substantially the same underlying securities within the index or in a subset of those securities selected to approximate a similar risk and return profile of the index .index strategies include both our non-etf index products and ishares etfs .although many clients use both active and index strategies , the application of these strategies may differ .for example , clients may use index products to gain exposure to a market or asset class , or may use a combination of index strategies to target active returns .in addition , institutional non-etf index assignments tend to be very large ( multi-billion dollars ) and typically reflect low fee rates .this has the potential to exaggerate the significance of net flows in institutional index products on blackrock 2019s revenues and earnings .equity year-end 2016 equity aum totaled $ 2.657 trillion , reflecting net inflows of $ 51.4 billion .net inflows included $ 74.9 billion into ishares , driven by net inflows into the core ranges and broad developed and emerging market equities .ishares net inflows were partially offset by active and non-etf index net outflows of $ 20.2 billion and $ 3.3 billion , respectively .blackrock 2019s effective fee rates fluctuate due to changes in aum mix .approximately half of blackrock 2019s equity aum is tied to international markets , including emerging markets , which tend to have higher fee rates than u.s .equity strategies .accordingly , fluctuations in international equity markets , which may not consistently move in tandem with u.s .markets , have a greater impact on blackrock 2019s effective equity fee rates and revenues .fixed income fixed income aum ended 2016 at $ 1.572 trillion , reflecting net inflows of $ 120.0 billion .in 2016 , active net inflows of $ 16.6 billion were diversified across fixed income offerings , and included strong inflows from insurance clients .fixed income ishares net inflows of $ 59.9 billion were led by flows into the core ranges , emerging market , high yield and corporate bond funds .non-etf index net inflows of $ 43.4 billion were driven by demand for liability-driven investment solutions .multi-asset blackrock 2019s multi-asset team manages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities , bonds , currencies and commodities , and our extensive risk management capabilities .investment solutions might include a combination of long-only portfolios and alternative investments as well as tactical asset allocation overlays .component changes in multi-asset aum for 2016 are presented below .( in millions ) december 31 , net inflows ( outflows ) market change impact december 31 .
[['( in millions )', 'december 312015', 'net inflows ( outflows )', 'marketchange', 'fx impact', 'december 312016'], ['asset allocation and balanced', '$ 185836', '$ -10332 ( 10332 )', '$ 6705', '$ -5534 ( 5534 )', '$ 176675'], ['target date/risk', '125664', '13500', '10189', '79', '149432'], ['fiduciary', '64433', '998', '5585', '-2621 ( 2621 )', '68395'], ['futureadvisor ( 1 )', '403', '61', '41', '2014', '505'], ['total', '$ 376336', '$ 4227', '$ 22520', '$ -8076 ( 8076 )', '$ 395007']]
( 1 ) the futureadvisor amount does not include aum that was held in ishares holdings .multi-asset net inflows reflected ongoing institutional demand for our solutions-based advice with $ 13.2 billion of net inflows coming from institutional clients .defined contribution plans of institutional clients remained a significant driver of flows , and contributed $ 11.3 billion to institutional multi-asset net inflows in 2016 , primarily into target date and target risk product offerings .retail net outflows of $ 9.4 billion were primarily due to outflows from world allocation strategies .the company 2019s multi-asset strategies include the following : 2022 asset allocation and balanced products represented 45% ( 45 % ) of multi-asset aum at year-end .these strategies combine equity , fixed income and alternative components for investors seeking a tailored solution relative to a specific benchmark and within a risk budget .in certain cases , these strategies seek to minimize downside risk through diversification , derivatives strategies and tactical asset allocation decisions .flagship products in this category include our global allocation and multi-asset income fund families .2022 target date and target risk products grew 11% ( 11 % ) organically in 2016 , with net inflows of $ 13.5 billion .institutional investors represented 94% ( 94 % ) of target date and target risk aum , with defined contribution plans accounting for 88% ( 88 % ) of aum .flows were driven by defined contribution investments in our lifepath and lifepath retirement income ae offerings .lifepath products utilize a proprietary asset allocation model that seeks to balance risk and return over an investment horizon based on the investor 2019s expected retirement timing .2022 fiduciary management services are complex mandates in which pension plan sponsors or endowments and foundations retain blackrock to assume responsibility for some or all aspects of plan management .these customized services require strong partnership with the clients 2019 investment staff and trustees in order to tailor investment strategies to meet client-specific risk budgets and return objectives. .
|
what is the asset allocation and balanced as a percentage of the total component changes in multi-asset aum in 2015?
|
49.4%
|
{
"answer": "49.4%",
"decimal": 0.494,
"type": "percentage"
}
| |
tax returns for 2001 and beyond are open for examination under statute .currently , unrecognized tax benefits are not expected to change significantly over the next 12 months .19 .stock-based and other management compensation plans in april 2009 , the company approved a global incentive plan which replaces the company 2019s 2004 stock incentive plan .the 2009 global incentive plan ( 201cgip 201d ) enables the compensation committee of the board of directors to award incentive and nonqualified stock options , stock appreciation rights , shares of series a common stock , restricted stock , restricted stock units ( 201crsus 201d ) and incentive bonuses ( which may be paid in cash or stock or a combination thereof ) , any of which may be performance-based , with vesting and other award provisions that provide effective incentive to company employees ( including officers ) , non-management directors and other service providers .under the 2009 gip , the company no longer can grant rsus with the right to participate in dividends or dividend equivalents .the maximum number of shares that may be issued under the 2009 gip is equal to 5350000 shares plus ( a ) any shares of series a common stock that remain available for issuance under the 2004 stock incentive plan ( 201csip 201d ) ( not including any shares of series a common stock that are subject to outstanding awards under the 2004 sip or any shares of series a common stock that were issued pursuant to awards under the 2004 sip ) and ( b ) any awards under the 2004 stock incentive plan that remain outstanding that cease for any reason to be subject to such awards ( other than by reason of exercise or settlement of the award to the extent that such award is exercised for or settled in vested and non-forfeitable shares ) .as of december 31 , 2010 , total shares available for awards and total shares subject to outstanding awards are as follows : shares available for awards shares subject to outstanding awards .
[['', 'shares available for awards', 'shares subject to outstanding awards'], ['2009 global incentive plan', '2322450', '2530454'], ['2004 stock incentive plan', '-', '5923147']]
upon the termination of a participant 2019s employment with the company by reason of death or disability or by the company without cause ( as defined in the respective award agreements ) , an award in amount equal to ( i ) the value of the award granted multiplied by ( ii ) a fraction , ( x ) the numerator of which is the number of full months between grant date and the date of such termination , and ( y ) the denominator of which is the term of the award , such product to be rounded down to the nearest whole number , and reduced by ( iii ) the value of any award that previously vested , shall immediately vest and become payable to the participant .upon the termination of a participant 2019s employment with the company for any other reason , any unvested portion of the award shall be forfeited and cancelled without consideration .there was $ 19 million and $ 0 million of tax benefit realized from stock option exercises and vesting of rsus during the years ended december 31 , 2010 and 2009 , respectively .during the year ended december 31 , 2008 the company reversed $ 8 million of the $ 19 million tax benefit that was realized during the year ended december 31 , 2007 .deferred compensation in april 2007 , certain participants in the company 2019s 2004 deferred compensation plan elected to participate in a revised program , which includes both cash awards and restricted stock units ( see restricted stock units below ) .based on participation in the revised program , the company expensed $ 9 million , $ 10 million and $ 8 million during the years ended december 31 , 2010 , 2009 and 2008 , respectively , related to the revised program and made payments of $ 4 million during the year ended december 31 , 2010 to participants who left the company and $ 28 million to active employees during december 2010 .as of december 31 , 2010 , $ 1 million remains to be paid during 2011 under the revised program .as of december 31 , 2009 , there was no deferred compensation payable remaining associated with the 2004 deferred compensation plan .the company recorded expense related to participants continuing in the 2004 deferred %%transmsg*** transmitting job : d77691 pcn : 132000000 ***%%pcmsg|132 |00011|yes|no|02/09/2011 18:22|0|0|page is valid , no graphics -- color : n| .
|
in the 2009 global incentive plan what is the percent of the shares available to the shares subject to a outstanding awards
|
47.9%
|
{
"answer": "47.9%",
"decimal": 0.479,
"type": "percentage"
}
|
the percent is the amount in question divide by the total
|
entergy gulf states , inc .management's financial discussion and analysis .
[['', '( in millions )'], ['2002 net revenue', '$ 1130.7'], ['volume/weather', '17.8'], ['fuel write-offs in 2002', '15.3'], ['net wholesale revenue', '10.2'], ['base rate decreases', '-23.3 ( 23.3 )'], ['nisco gain recognized in 2002', '-15.2 ( 15.2 )'], ['rate refund provisions', '-11.3 ( 11.3 )'], ['other', '-14.1 ( 14.1 )'], ['2003 net revenue', '$ 1110.1']]
the volume/weather variance was due to higher electric sales volume in the service territory .billed usage increased a total of 517 gwh in the residential and commercial sectors .the increase was partially offset by a decrease in industrial usage of 470 gwh due to the loss of two large industrial customers to cogeneration .the customers accounted for approximately 1% ( 1 % ) of entergy gulf states' net revenue in 2002 .in 2002 , deferred fuel costs of $ 8.9 million related to a texas fuel reconciliation case were written off and $ 6.5 million in expense resulted from an adjustment in the deregulated asset plan percentage as the result of a power uprate at river bend .the increase in net wholesale revenue was primarily due to an increase in sales volume to municipal and co- op customers and also to affiliated systems related to entergy's generation resource planning .the base rate decreases were effective june 2002 and january 2003 , both in the louisiana jurisdiction .the january 2003 base rate decrease of $ 22.1 million had a minimal impact on net income due to a corresponding reduction in nuclear depreciation and decommissioning expenses associated with the change in accounting to reflect an assumed extension of river bend's useful life .in 2002 , a gain of $ 15.2 million was recognized for the louisiana portion of the 1988 nelson units 1 and 2 sale .entergy gulf states received approval from the lpsc to discontinue applying amortization of the gain against recoverable fuel , resulting in the recognition of the deferred gain in income .rate refund provisions caused a decrease in net revenue due to additional provisions recorded in 2003 compared to 2002 for potential rate actions and refunds .gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to an increase of $ 440.2 million in fuel cost recovery revenues as a result of higher fuel rates in both the louisiana and texas jurisdictions .fuel and purchased power expenses increased $ 471.1 million due to an increase in the market prices of natural gas and purchased power .other income statement variances 2004 compared to 2003 other operation and maintenance expenses decreased primarily due to : 2022 voluntary severance program accruals of $ 22.5 million in 2003 ; and 2022 a decrease of $ 4.3 million in nuclear material and labor costs due to reduced staff in 2004. .
|
what were are the deferred fuel costs as a percentage of the total fuel write-offs in 2002?
|
58.2%
|
{
"answer": "58.2%",
"decimal": 0.5820000000000001,
"type": "percentage"
}
| |
notes to consolidated financial statements at december 31 , 2007 , future minimum rental payments required under operating leases for continuing operations that have initial or remaining noncancelable lease terms in excess of one year , net of sublease rental income , most of which pertain to real estate leases , are as follows : ( millions ) .
[['2008', '$ 317'], ['2009', '275'], ['2010', '236'], ['2011', '214'], ['2012', '191'], ['later years', '597'], ['total minimum payments required', '$ 1830']]
aon corporation .
|
assuming that actual net rent expense will be the same as presented in the table , what would be the growth rate in the net rent expense from 2008 to 2009?
|
-13.2%
|
{
"answer": "-13.2%",
"decimal": -0.132,
"type": "percentage"
}
| |
each clearing firm is required to deposit and maintain balances in the form of cash , u.s .government securities , certain foreign government securities , bank letters of credit or other approved investments to satisfy performance bond and guaranty fund requirements .all non-cash deposits are marked-to-market and haircut on a daily basis .securities deposited by the clearing firms are not reflected in the consolidated financial statements and the clearing house does not earn any interest on these deposits .these balances may fluctuate significantly over time due to investment choices available to clearing firms and changes in the amount of contributions required .in addition , the rules and regulations of cbot require that collateral be provided for delivery of physical commodities , maintenance of capital requirements and deposits on pending arbitration matters .to satisfy these requirements , clearing firms that have accounts that trade certain cbot products have deposited cash , u.s .treasury securities or letters of credit .the clearing house marks-to-market open positions at least once a day ( twice a day for futures and options contracts ) , and require payment from clearing firms whose positions have lost value and make payments to clearing firms whose positions have gained value .the clearing house has the capability to mark-to-market more frequently as market conditions warrant .under the extremely unlikely scenario of simultaneous default by every clearing firm who has open positions with unrealized losses , the maximum exposure related to positions other than credit default and interest rate swap contracts would be one half day of changes in fair value of all open positions , before considering the clearing houses 2019 ability to access defaulting clearing firms 2019 collateral deposits .for cleared credit default swap and interest rate swap contracts , the maximum exposure related to cme 2019s guarantee would be one full day of changes in fair value of all open positions , before considering cme 2019s ability to access defaulting clearing firms 2019 collateral .during 2017 , the clearing house transferred an average of approximately $ 2.4 billion a day through the clearing system for settlement from clearing firms whose positions had lost value to clearing firms whose positions had gained value .the clearing house reduces the guarantee exposure through initial and maintenance performance bond requirements and mandatory guaranty fund contributions .the company believes that the guarantee liability is immaterial and therefore has not recorded any liability at december 31 , 2017 .at december 31 , 2016 , performance bond and guaranty fund contribution assets on the consolidated balance sheets included cash as well as u.s .treasury and u.s .government agency securities with maturity dates of 90 days or less .the u.s .treasury and u.s .government agency securities were purchased by cme , at its discretion , using cash collateral .the benefits , including interest earned , and risks of ownership accrue to cme .interest earned is included in investment income on the consolidated statements of income .there were no u.s .treasury and u.s .government agency securities held at december 31 , 2017 .the amortized cost and fair value of these securities at december 31 , 2016 were as follows : ( in millions ) amortized .
[['( in millions )', '2016 amortizedcost', '2016 fairvalue'], ['u.s . treasury securities', '$ 5548.9', '$ 5549.0'], ['u.s . government agency securities', '1228.3', '1228.3']]
cme has been designated as a systemically important financial market utility by the financial stability oversight council and maintains a cash account at the federal reserve bank of chicago .at december 31 , 2017 and december 31 , 2016 , cme maintained $ 34.2 billion and $ 6.2 billion , respectively , within the cash account at the federal reserve bank of chicago .clearing firms , at their option , may instruct cme to deposit the cash held by cme into one of the ief programs .the total principal in the ief programs was $ 1.1 billion at december 31 , 2017 and $ 6.8 billion at december 31 .
|
hat was total amount of cash held by the federal reserve bank of chicago on behalf of the cme , including cash accounts and ief programs on december 31st , 2017?
|
35.3
|
{
"answer": "35.3",
"decimal": 35.3,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements mexico litigation 2014one of the company 2019s subsidiaries , spectrasite communications , inc .( 201csci 201d ) , is involved in a lawsuit brought in mexico against a former mexican subsidiary of sci ( the subsidiary of sci was sold in 2002 , prior to the company 2019s merger with sci 2019s parent in 2005 ) .the lawsuit concerns a terminated tower construction contract and related agreements with a wireless carrier in mexico .the primary issue for the company is whether sci itself can be found liable to the mexican carrier .the trial and lower appellate courts initially found that sci had no such liability in part because mexican courts do not have the necessary jurisdiction over sci .following several decisions by mexican appellate courts , including the supreme court of mexico , and related appeals by both parties , an intermediate appellate court issued a new decision that would , if enforceable , reimpose liability on sci in september 2010 .in its decision , the intermediate appellate court identified potential damages of approximately $ 6.7 million , and on october 14 , 2010 , the company filed a new constitutional appeal to again dispute the decision .as a result , at this stage of the proceeding , the company is unable to determine whether the liability imposed on sci by the september 2010 decision will survive or to estimate its share , if any , of that potential liability if the decision survives the pending appeal .xcel litigation 2014on june 3 , 2010 , horse-shoe capital ( 201chorse-shoe 201d ) , a company formed under the laws of the republic of mauritius , filed a complaint in the supreme court of the state of new york , new york county , with respect to horse-shoe 2019s sale of xcel to american tower mauritius ( 201catmauritius 201d ) , the company 2019s wholly-owned subsidiary formed under the laws of the republic of mauritius .the complaint names atmauritius , ati and the company as defendants , and the dispute concerns the timing and amount of distributions to be made by atmauritius to horse-shoe from a $ 7.5 million holdback escrow account and a $ 15.7 million tax escrow account , each established by the transaction agreements at closing .the complaint seeks release of the entire holdback escrow account , plus an additional $ 2.8 million , as well as the release of approximately $ 12.0 million of the tax escrow account .the complaint also seeks punitive damages in excess of $ 69.0 million .the company filed an answer to the complaint in august 2010 , disputing both the amounts alleged to be owed under the escrow agreements as well as the timing of the escrow distributions .the company also asserted in its answer that the demand for punitive damages is meritless .the parties have filed cross-motions for summary judgment concerning the release of the tax escrow account and in january 2011 the court granted the company 2019s motion for summary judgment , finding no obligation for the company to release the disputed portion of the tax escrow until 2013 .other claims are pending .the company is vigorously defending the lawsuit .lease obligations 2014the company leases certain land , office and tower space under operating leases that expire over various terms .many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option .escalation clauses present in operating leases , excluding those tied to cpi or other inflation-based indices , are recognized on a straight-line basis over the non-cancellable term of the lease .future minimum rental payments under non-cancellable operating leases include payments for certain renewal periods at the company 2019s option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases , thereby making it reasonably assured that the company will renew the lease .such payments in effect at december 31 , 2010 are as follows ( in thousands ) : year ending december 31 .
[['2011', '$ 257971'], ['2012', '254575'], ['2013', '251268'], ['2014', '246392'], ['2015', '238035'], ['thereafter', '2584332'], ['total', '$ 3832573']]
.
|
what portion of the total future minimum rental payments is due in the next 12 months?
|
6.7%
|
{
"answer": "6.7%",
"decimal": 0.067,
"type": "percentage"
}
| |
stockholders 2019 equity derivative instruments activity , net of tax , included in non-owner changes to equity within the consolidated statements of stockholders 2019 equity for the years ended december 31 , 2008 , 2007 and 2006 is as follows: .
[['', '2008', '2007', '2006'], ['balance at january 1', '$ 2014', '$ 16', '$ 2'], ['increase ( decrease ) in fair value', '-9 ( 9 )', '-6 ( 6 )', '75'], ['reclassifications to earnings', '2', '-10 ( 10 )', '-61 ( 61 )'], ['balance at december 31', '$ -7 ( 7 )', '$ 2014', '$ 16']]
net investment in foreign operations hedge at december 31 , 2008 and 2007 , the company did not have any hedges of foreign currency exposure of net investments in foreign operations .investments hedge during the first quarter of 2006 , the company entered into a zero-cost collar derivative ( the 201csprint nextel derivative 201d ) to protect itself economically against price fluctuations in its 37.6 million shares of sprint nextel corporation ( 201csprint nextel 201d ) non-voting common stock .during the second quarter of 2006 , as a result of sprint nextel 2019s spin-off of embarq corporation through a dividend to sprint nextel shareholders , the company received approximately 1.9 million shares of embarq corporation .the floor and ceiling prices of the sprint nextel derivative were adjusted accordingly .the sprint nextel derivative was not designated as a hedge under the provisions of sfas no .133 , 201caccounting for derivative instruments and hedging activities . 201d accordingly , to reflect the change in fair value of the sprint nextel derivative , the company recorded a net gain of $ 99 million for the year ended december 31 , 2006 , included in other income ( expense ) in the company 2019s consolidated statements of operations .in december 2006 , the sprint nextel derivative was terminated and settled in cash and the 37.6 million shares of sprint nextel were converted to common shares and sold .the company received aggregate cash proceeds of approximately $ 820 million from the settlement of the sprint nextel derivative and the subsequent sale of the 37.6 million sprint nextel shares .the company recognized a loss of $ 126 million in connection with the sale of the remaining shares of sprint nextel common stock .as described above , the company recorded a net gain of $ 99 million in connection with the sprint nextel derivative .fair value of financial instruments the company 2019s financial instruments include cash equivalents , sigma fund investments , short-term investments , accounts receivable , long-term receivables , accounts payable , accrued liabilities , derivatives and other financing commitments .the company 2019s sigma fund , available-for-sale investment portfolios and derivatives are recorded in the company 2019s consolidated balance sheets at fair value .all other financial instruments , with the exception of long-term debt , are carried at cost , which is not materially different than the instruments 2019 fair values .using quoted market prices and market interest rates , the company determined that the fair value of long- term debt at december 31 , 2008 was $ 2.8 billion , compared to a carrying value of $ 4.1 billion .since considerable judgment is required in interpreting market information , the fair value of the long-term debt is not necessarily indicative of the amount which could be realized in a current market exchange .equity price market risk at december 31 , 2008 , the company 2019s available-for-sale equity securities portfolio had an approximate fair market value of $ 128 million , which represented a cost basis of $ 125 million and a net unrealized loss of $ 3 million .these equity securities are held for purposes other than trading .%%transmsg*** transmitting job : c49054 pcn : 105000000 ***%%pcmsg|102 |00022|yes|no|02/23/2009 19:17|0|0|page is valid , no graphics -- color : n| .
|
what is the percent change in total balance of stockholder equity between january 2006 and 2007?
|
700%
|
{
"answer": "700%",
"decimal": 7,
"type": "percentage"
}
| |
liquidity and capital resources the following table presents selected financial information and statistics for each of the last three fiscal years ( dollars in millions ) : .
[['', '2004', '2003', '2002'], ['cash cash equivalents and short-term investments', '$ 5464', '$ 4566', '$ 4337'], ['accounts receivable net', '$ 774', '$ 766', '$ 565'], ['inventory', '$ 101', '$ 56', '$ 45'], ['working capital', '$ 4375', '$ 3530', '$ 3730'], ['days sales in accounts receivable ( dso ) ( a )', '30', '41', '36'], ['days of supply in inventory ( b )', '5', '4', '4'], ['days payables outstanding ( dpo ) ( c )', '76', '82', '77'], ['annual operating cash flow', '$ 934', '$ 289', '$ 89']]
( a ) dso is based on ending net trade receivables and most recent quarterly net sales for each period .( b ) days supply of inventory is based on ending inventory and most recent quarterly cost of sales for each period .( c ) dpo is based on ending accounts payable and most recent quarterly cost of sales adjusted for the change in inventory .as of september 25 , 2004 , the company had $ 5.464 billion in cash , cash equivalents , and short-term investments , an increase of $ 898 million over the same balances at the end of fiscal 2003 .the principal components of this increase were cash generated by operating activities of $ 934 million and proceeds of $ 427 million from the issuance of common stock under stock plans , partially offset by cash used to repay the company 2019s outstanding debt of $ 300 million and purchases of property , plant , and equipment of $ 176 million .the company 2019s short-term investment portfolio is primarily invested in high credit quality , liquid investments .approximately $ 3.2 billion of this cash , cash equivalents , and short-term investments are held by the company 2019s foreign subsidiaries and would be subject to u.s .income taxation on repatriation to the u.s .the company is currently assessing the impact of the one-time favorable foreign dividend provisions recently enacted as part of the american jobs creation act of 2004 , and may decide to repatriate earnings from some of its foreign subsidiaries .the company believes its existing balances of cash , cash equivalents , and short-term investments will be sufficient to satisfy its working capital needs , capital expenditures , stock repurchase activity , outstanding commitments , and other liquidity requirements associated with its existing operations over the next 12 months .in february 2004 , the company retired $ 300 million of debt outstanding in the form of 6.5% ( 6.5 % ) unsecured notes .the notes were originally issued in 1994 and were sold at 99.9925% ( 99.9925 % ) of par for an effective yield to maturity of 6.51% ( 6.51 % ) .the company currently has no long-term debt obligations .capital expenditures the company 2019s total capital expenditures were $ 176 million during fiscal 2004 , $ 104 million of which were for retail store facilities and equipment related to the company 2019s retail segment and $ 72 million of which were primarily for corporate infrastructure , including information systems enhancements and operating facilities enhancements and expansions .the company currently anticipates it will utilize approximately $ 240 million for capital expenditures during 2005 , approximately $ 125 million of which is expected to be utilized for further expansion of the company 2019s retail segment and the remainder utilized to support normal replacement of existing capital assets and enhancements to general information technology infrastructure. .
|
in february 2004 , the company retired $ 300 million of debt outstanding in the form of 6.5% ( 6.5 % ) unsecured notes . what was the annual interest savings from this retirement?\\n
|
18.6
|
{
"answer": "18.6",
"decimal": 18.6,
"type": "float"
}
| |
worldwide wholesale distribution channels the following table presents the number of doors by geographic location in which products distributed by our wholesale segment were sold to consumers in our primary channels of distribution as of april 2 , 2016: .
[['location', 'number of doors'], ['the americas ( a )', '7741'], ['europe ( b )', '5625'], ['asia ( c )', '136'], ['total', '13502']]
( a ) includes the u.s. , canada , and latin america .( b ) includes the middle east .( c ) includes australia and new zealand .we have three key wholesale customers that generate significant sales volume .during fiscal 2016 , sales to our largest wholesale customer , macy's , inc .( "macy's" ) , accounted for approximately 11% ( 11 % ) and 25% ( 25 % ) of our total net revenues and total wholesale net revenues , respectively .further , during fiscal 2016 , sales to our three largest wholesale customers , including macy's , accounted for approximately 24% ( 24 % ) and 53% ( 53 % ) of our total net revenues and total wholesale net revenues , respectively .our products are sold primarily by our own sales forces .our wholesale segment maintains its primary showrooms in new york city .in addition , we maintain regional showrooms in milan , paris , london , munich , madrid , stockholm , and panama .shop-within-shops .as a critical element of our distribution to department stores , we and our licensing partners utilize shop-within-shops to enhance brand recognition , to permit more complete merchandising of our lines by the department stores , and to differentiate the presentation of our products .as of april 2 , 2016 , we had approximately 25000 shop-within-shops in our primary channels of distribution dedicated to our wholesale products worldwide .the size of our shop-within-shops ranges from approximately 100 to 9200 square feet .shop-within-shop fixed assets primarily include items such as customized freestanding fixtures , wall cases and components , decorative items , and flooring .we normally share in the cost of building out these shop-within-shops with our wholesale customers .basic stock replenishment program .basic products such as knit shirts , chino pants , oxford cloth shirts , select accessories , and home products can be ordered by our wholesale customers at any time through our basic stock replenishment program .we generally ship these products within two to five days of order receipt .our retail segment our retail segment sells directly to customers throughout the world via our 493 retail stores , totaling approximately 3.8 million square feet , and 583 concession-based shop-within-shops , as well as through our various e-commerce sites .the extension of our direct-to-consumer reach is one of our primary long-term strategic goals .we operate our retail business using an omni-channel retailing strategy that seeks to deliver an integrated shopping experience with a consistent message of our brands and products to our customers , regardless of whether they are shopping for our products in one of our physical stores or online .ralph lauren stores our ralph lauren stores feature a broad range of apparel , accessories , watch and jewelry , fragrance , and home product assortments in an atmosphere reflecting the distinctive attitude and image of the ralph lauren , polo , double rl , and denim & supply brands , including exclusive merchandise that is not sold in department stores .during fiscal 2016 , we opened 22 new ralph lauren stores and closed 21 stores .our ralph lauren stores are primarily situated in major upscale street locations and upscale regional malls , generally in large urban markets. .
|
what percentage of doors in the wholesale segment as of april 2 , 2016 where in the asia geography?
|
1%
|
{
"answer": "1%",
"decimal": 0.01,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) of certain of its assets and liabilities under its interest rate swap agreements held as of december 31 , 2006 and entered into during the first half of 2007 .in addition , the company paid $ 8.0 million related to a treasury rate lock agreement entered into and settled during the year ended december 31 , 2008 .the cost of the treasury rate lock is being recognized as additional interest expense over the 10-year term of the 7.00% ( 7.00 % ) notes .during the year ended december 31 , 2007 , the company also received $ 3.1 million in cash upon settlement of the assets and liabilities under ten forward starting interest rate swap agreements with an aggregate notional amount of $ 1.4 billion , which were designated as cash flow hedges to manage exposure to variability in cash flows relating to forecasted interest payments in connection with the certificates issued in the securitization in may 2007 .the settlement is being recognized as a reduction in interest expense over the five-year period for which the interest rate swaps were designated as hedges .the company also received $ 17.0 million in cash upon settlement of the assets and liabilities under thirteen additional interest rate swap agreements with an aggregate notional amount of $ 850.0 million that managed exposure to variability of interest rates under the credit facilities but were not considered cash flow hedges for accounting purposes .this gain is included in other income in the accompanying consolidated statement of operations for the year ended december 31 , 2007 .as of december 31 , 2008 and 2007 , other comprehensive ( loss ) income included the following items related to derivative financial instruments ( in thousands ) : .
[['', '2008', '2007'], ['deferred loss on the settlement of the treasury rate lock net of tax', '$ -4332 ( 4332 )', '$ -4901 ( 4901 )'], ['deferred gain on the settlement of interest rate swap agreements entered into in connection with the securitization net oftax', '1238', '1636'], ['unrealized losses related to interest rate swap agreements net of tax', '-16349 ( 16349 )', '-486 ( 486 )']]
during the years ended december 31 , 2008 and 2007 , the company recorded an aggregate net unrealized loss of approximately $ 15.8 million and $ 3.2 million , respectively ( net of a tax provision of approximately $ 10.2 million and $ 2.0 million , respectively ) in other comprehensive loss for the change in fair value of interest rate swaps designated as cash flow hedges and reclassified an aggregate of $ 0.1 million and $ 6.2 million , respectively ( net of an income tax provision of $ 2.0 million and an income tax benefit of $ 3.3 million , respectively ) into results of operations .9 .fair valuemeasurements the company determines the fair market values of its financial instruments based on the fair value hierarchy established in sfas no .157 , which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value .the standard describes three levels of inputs that may be used to measure fair value .level 1 quoted prices in active markets for identical assets or liabilities that the company has the ability to access at the measurement date .the company 2019s level 1 assets consist of available-for-sale securities traded on active markets as well as certain brazilian treasury securities that are highly liquid and are actively traded in over-the-counter markets .level 2 observable inputs other than level 1 prices , such as quoted prices for similar assets or liabilities ; quoted prices in markets that are not active ; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. .
|
what was the change in the unrealized losses related to interest rate swap agreements net of tax from 2007 to 2008
|
-15863
|
{
"answer": "-15863",
"decimal": -15863,
"type": "float"
}
| |
republic services , inc .notes to consolidated financial statements 2014 ( continued ) changes in the deferred tax valuation allowance for the years ended december 31 , 2012 , 2011 and 2010 are as follows: .
[['', '2012', '2011', '2010'], ['valuation allowance beginning of year', '$ 118.1', '$ 120.1', '$ 126.5'], ['additions charged to income', '1.9', '2.1', '8.3'], ['usage', '-3.2 ( 3.2 )', '-4.3 ( 4.3 )', '-10.4 ( 10.4 )'], ['expirations of state net operating losses', '-0.3 ( 0.3 )', '-0.3 ( 0.3 )', '-0.3 ( 0.3 )'], ['other net', '8.3', '0.5', '-4.0 ( 4.0 )'], ['valuation allowance end of year', '$ 124.8', '$ 118.1', '$ 120.1']]
in assessing the realizability of deferred tax assets , management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized after the initial recognition of the deferred tax asset .we also provide valuation allowances , as needed , to offset portions of deferred tax assets due to uncertainty surrounding the future realization of such deferred tax assets .we adjust the valuation allowance in the period management determines it is more likely than not that deferred tax assets will or will not be realized .we have state net operating loss carryforwards with an estimated tax effect of $ 130.2 million available at december 31 , 2012 .these state net operating loss carryforwards expire at various times between 2013 and 2032 .we believe that it is more likely than not that the benefit from certain state net operating loss carryforwards will not be realized .in recognition of this risk , at december 31 , 2012 , we have provided a valuation allowance of $ 113.5 million for certain state net operating loss carryforwards .at december 31 , 2012 , we also have provided a valuation allowance of $ 11.3 million for certain other deferred tax assets .deferred income taxes have not been provided on the undistributed earnings of our puerto rican subsidiaries of approximately $ 40 million and $ 39 million as of december 31 , 2012 and 2011 , respectively , as such earnings are considered to be permanently invested in those subsidiaries .if such earnings were to be remitted to us as dividends , we would incur approximately $ 14 million of federal income taxes .we made income tax payments ( net of refunds received ) of approximately $ 185 million , $ 173 million and $ 418 million for 2012 , 2011 and 2010 , respectively .income taxes paid in 2012 and 2011 reflect the favorable tax depreciation provisions of the tax relief , unemployment insurance reauthorization , and job creation act of 2010 ( tax relief act ) that was signed into law in december 2010 .the tax relief act included 100% ( 100 % ) bonus depreciation for property placed in service after september 8 , 2010 and through december 31 , 2011 ( and for certain long-term construction projects to be placed in service in 2012 ) and 50% ( 50 % ) bonus depreciation for property placed in service in 2012 ( and for certain long-term construction projects to be placed in service in 2013 ) .income taxes paid in 2010 includes $ 111 million related to the settlement of certain tax liabilities regarding bfi risk management companies .we and our subsidiaries are subject to income tax in the u.s .and puerto rico , as well as income tax in multiple state jurisdictions .our compliance with income tax rules and regulations is periodically audited by tax authorities .these authorities may challenge the positions taken in our tax filings .thus , to provide for certain potential tax exposures , we maintain liabilities for uncertain tax positions for our estimate of the final outcome of the examinations. .
|
what was the average balance of the end of year valuation allowance from 2010-2012
|
121.6
|
{
"answer": "121.6",
"decimal": 121.6,
"type": "float"
}
|
the average balance of the valuation allowance from 2010 to 2012 at year end was 121.6
|
entergy new orleans , inc .management 2019s financial discussion and analysis the volume/weather variance is primarily due to an increase in electricity usage in the residential and commercial sectors due in part to a 4% ( 4 % ) increase in the average number of residential customers and a 3% ( 3 % ) increase in the average number of commercial customers , partially offset by the effect of less favorable weather on residential sales .gross operating revenues gross operating revenues decreased primarily due to : a decrease of $ 16.2 million in electric fuel cost recovery revenues due to lower fuel rates ; a decrease of $ 15.4 million in gross gas revenues primarily due to lower fuel cost recovery revenues as a result of lower fuel rates and the effect of milder weather ; and formula rate plan decreases effective october 2010 and october 2011 , as discussed above .the decrease was partially offset by an increase in gross wholesale revenue due to increased sales to affiliated customers and more favorable volume/weather , as discussed above .2010 compared to 2009 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 2010 to 2009 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2009 net revenue', '$ 243.0'], ['volume/weather', '17.0'], ['net gas revenue', '14.2'], ['effect of 2009 rate case settlement', '-6.6 ( 6.6 )'], ['other', '5.3'], ['2010 net revenue', '$ 272.9']]
the volume/weather variance is primarily due to an increase of 348 gwh , or 7% ( 7 % ) , in billed retail electricity usage primarily due to more favorable weather compared to last year .the net gas revenue variance is primarily due to more favorable weather compared to last year , along with the recognition of a gas regulatory asset associated with the settlement of entergy new orleans 2019s electric and gas formula rate plans .see note 2 to the financial statements for further discussion of the formula rate plan settlement .the effect of 2009 rate case settlement variance results from the april 2009 settlement of entergy new orleans 2019s rate case , and includes the effects of realigning non-fuel costs associated with the operation of grand gulf from the fuel adjustment clause to electric base rates effective june 2009 .see note 2 to the financial statements for further discussion of the rate case settlement .other income statement variances 2011 compared to 2010 other operation and maintenance expenses decreased primarily due to the deferral in 2011 of $ 13.4 million of 2010 michoud plant maintenance costs pursuant to the settlement of entergy new orleans 2019s 2010 test year formula rate plan filing approved by the city council in september 2011 and a decrease of $ 8.0 million in fossil- fueled generation expenses due to higher plant outage costs in 2010 due to a greater scope of work at the michoud plant .see note 2 to the financial statements for more discussion of the 2010 test year formula rate plan filing. .
|
what is the growth rate in net revenue from 2009 to 2010?
|
12.3%
|
{
"answer": "12.3%",
"decimal": 0.12300000000000001,
"type": "percentage"
}
| |
flows of the company 2019s subsidiaries , the receipt of dividends and repayments of indebtedness from the company 2019s subsidiaries , compliance with delaware corporate and other laws , compliance with the contractual provisions of debt and other agreements , and other factors .the company 2019s dividend rate on its common stock is determined by the board of directors on a quarterly basis and takes into consideration , among other factors , current and possible future developments that may affect the company 2019s income and cash flows .when dividends on common stock are declared , they are typically paid in march , june , september and december .historically , dividends have been paid quarterly to holders of record less than 30 days prior to the distribution date .since the dividends on the company 2019s common stock are not cumulative , only declared dividends are paid .during 2018 , 2017 and 2016 , the company paid $ 319 million , $ 289 million and $ 261 million in cash dividends , respectively .the following table provides the per share cash dividends paid for the years ended december 31: .
[['', '2018', '2017', '2016'], ['december', '$ 0.455', '$ 0.415', '$ 0.375'], ['september', '$ 0.455', '$ 0.415', '$ 0.375'], ['june', '$ 0.455', '$ 0.415', '$ 0.375'], ['march', '$ 0.415', '$ 0.375', '$ 0.34']]
on december 7 , 2018 , the company 2019s board of directors declared a quarterly cash dividend payment of $ 0.455 per share payable on march 1 , 2019 , to shareholders of record as of february 7 , 2019 .equity forward transaction see note 4 2014acquisitions and divestitures for information regarding the forward sale agreements entered into by the company on april 11 , 2018 , and the subsequent settlement of these agreements on june 7 , 2018 .regulatory restrictions the issuance of long-term debt or equity securities by the company or american water capital corp .( 201cawcc 201d ) , the company 2019s wholly owned financing subsidiary , does not require authorization of any state puc if no guarantee or pledge of the regulated subsidiaries is utilized .however , state puc authorization is required to issue long-term debt at most of the company 2019s regulated subsidiaries .the company 2019s regulated subsidiaries normally obtain the required approvals on a periodic basis to cover their anticipated financing needs for a period of time or in connection with a specific financing .under applicable law , the company 2019s subsidiaries can pay dividends only from retained , undistributed or current earnings .a significant loss recorded at a subsidiary may limit the dividends that the subsidiary can distribute to american water .furthermore , the ability of the company 2019s subsidiaries to pay upstream dividends or repay indebtedness to american water is subject to compliance with applicable regulatory restrictions and financial obligations , including , for example , debt service and preferred and preference stock dividends , as well as applicable corporate , tax and other laws and regulations , and other agreements or covenants made or entered into by the company and its subsidiaries .note 10 : stock based compensation the company has granted stock options , stock units and dividend equivalents to non-employee directors , officers and other key employees of the company pursuant to the terms of its 2007 omnibus equity compensation plan ( the 201c2007 plan 201d ) .stock units under the 2007 plan generally vest based on ( i ) continued employment with the company ( 201crsus 201d ) , or ( ii ) continued employment with the company where distribution of the shares is subject to the satisfaction in whole or in part of stated performance-based goals ( 201cpsus 201d ) .the total aggregate number of shares of common stock that may be issued under the 2007 plan is 15.5 million .as of .
|
during 2018 , 2017 and 2016 , what did the company pay ( millions ) in cash dividends?
|
866
|
{
"answer": "866",
"decimal": 866,
"type": "float"
}
| |
synopsys , inc .notes to consolidated financial statements 2014continued purchase price allocation .the company allocated the total purchase consideration of $ 316.6 million ( including $ 4.6 million related to stock awards assumed ) to the assets acquired and liabilities assumed based on their respective fair values at the acquisition dates , including acquired identifiable intangible assets of $ 96.7 million and ipr&d of $ 13.2 million , resulting in total goodwill of $ 210.1 million .acquisition-related costs , consisting of professional services , severance costs , contract terminations and facilities closure costs , totaling $ 13.0 million were expensed as incurred in the consolidated statements of operations .goodwill primarily resulted from the company 2019s expectation of sales growth and cost synergies from the integration of virage 2019s technology with the company 2019s technology and operations to provide an expansion of products and market reach .identifiable intangible assets consisted of technology , customer relationships , contract rights and trademarks , were valued using the income method , and are being amortized over two to ten years .fair value of stock awards assumed .the company assumed unvested restricted stock units ( rsus ) and stock appreciation rights ( sars ) with a fair value of $ 21.7 million .of the total consideration , $ 4.6 million was allocated to the purchase consideration and $ 17.1 million was allocated to future services and expensed over their remaining service periods on a straight-line basis .other fiscal 2010 acquisitions during fiscal 2010 , the company completed seven other acquisitions for cash .the company allocated the total purchase consideration of $ 221.7 million to the assets acquired and liabilities assumed based on their respective fair values at the acquisition dates , resulting in total goodwill of $ 110.8 million .acquired identifiable intangible assets totaling $ 92.8 million are being amortized over their respective useful lives ranging from one to ten years .acquisition-related costs totaling $ 10.6 million were expensed as incurred in the consolidated statements of operations .the purchase consideration for one of the acquisitions included contingent consideration up to $ 10.0 million payable upon the achievement of certain technology milestones over three years .the contingent consideration was recorded as a liability at its estimated fair value determined based on the net present value of estimated payments of $ 7.8 million on the acquisition date and is being remeasured at fair value quarterly during the three-year contingency period with changes in its fair value recorded in the company 2019s statements of operations .there is no contingent consideration liability as of the end of fiscal 2012 relating to this acquisition .note 4 .goodwill and intangible assets goodwill consists of the following: .
[['', '( in thousands )'], ['balance at october 31 2010', '$ 1265843'], ['additions', '30717'], ['other adjustments ( 1 )', '-7274 ( 7274 )'], ['balance at october 31 2011', '$ 1289286'], ['additions', '687195'], ['other adjustments ( 1 )', '506'], ['balance at october 31 2012', '$ 1976987']]
( 1 ) adjustments primarily relate to changes in estimates for acquisitions that closed in the prior fiscal year for which the purchase price allocation was still preliminary , and achievement of certain milestones for an acquisition that closed prior to fiscal 2010. .
|
what was the net change in thousands of the goodwill and intangible assets balance from october 31 , 2011 to october 31 , 2012?
|
687701
|
{
"answer": "687701",
"decimal": 687701,
"type": "float"
}
| |
entergy louisiana , inc .management's financial discussion and analysis setting any of entergy louisiana's rates .therefore , to the extent entergy louisiana's use of the proceeds would ordinarily have reduced its rate base , no change in rate base shall be reflected for ratemaking purposes .the sec approval for additional return of equity capital is now expired .entergy louisiana's receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .
[['2004', '2003', '2002', '2001'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['$ 40549', '( $ 41317 )', '$ 18854', '$ 3812']]
money pool activity used $ 81.9 million of entergy louisiana's operating cash flow in 2004 , provided $ 60.2 million in 2003 , and used $ 15.0 million in 2002 .see note 4 to the domestic utility companies and system energy financial statements for a description of the money pool .investing activities the decrease of $ 25.1 million in net cash used by investing activities in 2004 was primarily due to decreased spending on customer service projects , partially offset by increases in spending on transmission projects and fossil plant projects .the increase of $ 56.0 million in net cash used by investing activities in 2003 was primarily due to increased spending on customer service , transmission , and nuclear projects .financing activities the decrease of $ 404.4 million in net cash used by financing activities in 2004 was primarily due to : 2022 the net issuance of $ 98.0 million of long-term debt in 2004 compared to the retirement of $ 261.0 million in 2022 a principal payment of $ 14.8 million in 2004 for the waterford lease obligation compared to a principal payment of $ 35.4 million in 2003 ; and 2022 a decrease of $ 29.0 million in common stock dividends paid .the decrease of $ 105.5 million in net cash used by financing activities in 2003 was primarily due to : 2022 a decrease of $ 125.9 million in common stock dividends paid ; and 2022 the repurchase of $ 120 million of common stock from entergy corporation in 2002 .the decrease in net cash used in 2003 was partially offset by the following : 2022 the retirement in 2003 of $ 150 million of 8.5% ( 8.5 % ) series first mortgage bonds compared to the net retirement of $ 134.6 million of first mortgage bonds in 2002 ; and 2022 principal payments of $ 35.4 million in 2003 for the waterford 3 lease obligation compared to principal payments of $ 15.9 million in 2002 .see note 5 to the domestic utility companies and system energy financial statements for details of long-term debt .uses of capital entergy louisiana requires capital resources for : 2022 construction and other capital investments ; 2022 debt and preferred stock maturities ; 2022 working capital purposes , including the financing of fuel and purchased power costs ; and 2022 dividend and interest payments. .
|
what is the the net issuance of long-term debt as a percentage of the decrease in net cash used by financing activities in 2004?
|
24.2%
|
{
"answer": "24.2%",
"decimal": 0.242,
"type": "percentage"
}
| |
the agencies consider many factors in determining the final rating of an insurance company .one consideration is the relative level of statutory surplus necessary to support the business written .statutory surplus represents the capital of the insurance company reported in accordance with accounting practices prescribed by the applicable state insurance department .see part i , item 1a .risk factors 2014 201cdowngrades in our financial strength or credit ratings , which may make our products less attractive , could increase our cost of capital and inhibit our ability to refinance our debt , which would have a material adverse effect on our business , financial condition , results of operations and liquidity . 201d statutory surplus the table below sets forth statutory surplus for the company 2019s insurance companies as of december 31 , 2014 and 2013: .
[['', '2014', '2013'], ['u.s . life insurance subsidiaries includes domestic captive insurance subsidiaries in 2013', '$ 7157', '$ 6639'], ['property and casualty insurance subsidiaries', '8069', '8022'], ['total', '$ 15226', '$ 14661']]
statutory capital and surplus for the u.s .life insurance subsidiaries , including domestic captive insurance subsidiaries in 2013 , increased by $ 518 , primarily due to variable annuity surplus impacts of $ 788 , net income from non-variable annuity business of $ 187 , increases in unrealized gains from other invested assets carrying values of $ 138 , partially offset by returns of capital of $ 500 , and changes in reserves on account of change in valuation basis of $ 100 .effective april 30 , 2014 the last domestic captive ceased operations .statutory capital and surplus for the property and casualty insurance increased by $ 47 , primarily due to statutory net income of $ 1.1 billion , and unrealized gains on investments of $ 1.4 billion , largely offset by dividends to the hfsg holding company of $ 2.5 billion .the company also held regulatory capital and surplus for its former operations in japan until the sale of those operations on june 30 , 2014 .under the accounting practices and procedures governed by japanese regulatory authorities , the company 2019s statutory capital and surplus was $ 1.2 billion as of december 31 , 2013. .
|
what is the growth rate in balance of u.s . life insurance subsidiaries from 2013 to 2014?
|
7.8%
|
{
"answer": "7.8%",
"decimal": 0.078,
"type": "percentage"
}
| |
amortization expense , which is included in selling , general and administrative expenses , was $ 13.0 million , $ 13.9 million and $ 8.5 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .the following is the estimated amortization expense for the company 2019s intangible assets as of december 31 , 2016 : ( in thousands ) .
[['2017', '$ 10509'], ['2018', '9346'], ['2019', '9240'], ['2020', '7201'], ['2021', '5318'], ['2022 and thereafter', '16756'], ['amortization expense of intangible assets', '$ 58370']]
at december 31 , 2016 , 2015 and 2014 , the company determined that its goodwill and indefinite- lived intangible assets were not impaired .5 .credit facility and other long term debt credit facility the company is party to a credit agreement that provides revolving commitments for up to $ 1.25 billion of borrowings , as well as term loan commitments , in each case maturing in january 2021 .as of december 31 , 2016 there was no outstanding balance under the revolving credit facility and $ 186.3 million of term loan borrowings remained outstanding .at the company 2019s request and the lender 2019s consent , revolving and or term loan borrowings may be increased by up to $ 300.0 million in aggregate , subject to certain conditions as set forth in the credit agreement , as amended .incremental borrowings are uncommitted and the availability thereof , will depend on market conditions at the time the company seeks to incur such borrowings .the borrowings under the revolving credit facility have maturities of less than one year .up to $ 50.0 million of the facility may be used for the issuance of letters of credit .there were $ 2.6 million of letters of credit outstanding as of december 31 , 2016 .the credit agreement contains negative covenants that , subject to significant exceptions , limit the ability of the company and its subsidiaries to , among other things , incur additional indebtedness , make restricted payments , pledge their assets as security , make investments , loans , advances , guarantees and acquisitions , undergo fundamental changes and enter into transactions with affiliates .the company is also required to maintain a ratio of consolidated ebitda , as defined in the credit agreement , to consolidated interest expense of not less than 3.50 to 1.00 and is not permitted to allow the ratio of consolidated total indebtedness to consolidated ebitda to be greater than 3.25 to 1.00 ( 201cconsolidated leverage ratio 201d ) .as of december 31 , 2016 , the company was in compliance with these ratios .in addition , the credit agreement contains events of default that are customary for a facility of this nature , and includes a cross default provision whereby an event of default under other material indebtedness , as defined in the credit agreement , will be considered an event of default under the credit agreement .borrowings under the credit agreement bear interest at a rate per annum equal to , at the company 2019s option , either ( a ) an alternate base rate , or ( b ) a rate based on the rates applicable for deposits in the interbank market for u.s .dollars or the applicable currency in which the loans are made ( 201cadjusted libor 201d ) , plus in each case an applicable margin .the applicable margin for loans will .
|
what is the percentage change in interest expense from 2015 to 2016?
|
6.5%
|
{
"answer": "6.5%",
"decimal": 0.065,
"type": "percentage"
}
| |
an average of 7.1 in 2000 .the top 100 largest clients used an average of 11.3 products in 2001 , up from an average of 11.2 in 2000 .state street benefits significantly from its ability to derive revenue from the transaction flows of clients .this occurs through the management of cash positions , including deposit balances and other short-term investment activities , using state street 2019s balance sheet capacity .significant foreign currency transaction volumes provide potential for foreign exchange trading revenue as well .fee revenue total operating fee revenuewas $ 2.8 billion in 2001 , compared to $ 2.7 billion in 2000 , an increase of 6% ( 6 % ) .adjusted for the formation of citistreet , the growth in fee revenue was 8% ( 8 % ) .growth in servicing fees of $ 199million , or 14% ( 14 % ) , was the primary contributor to the increase in fee revenue .this growth primarily reflects several large client wins installed starting in the latter half of 2000 and continuing throughout 2001 , and strength in fee revenue from securities lending .declines in equity market values worldwide offset some of the growth in servicing fees .management fees were down 5% ( 5 % ) , adjusted for the formation of citistreet , reflecting the decline in theworldwide equitymarkets .foreign exchange trading revenue was down 5% ( 5 % ) , reflecting lower currency volatility , and processing fees and other revenue was up 21% ( 21 % ) , primarily due to gains on the sales of investment securities .servicing and management fees are a function of several factors , including the mix and volume of assets under custody and assets under management , securities positions held , and portfolio transactions , as well as types of products and services used by clients .state street estimates , based on a study conducted in 2000 , that a 10% ( 10 % ) increase or decrease in worldwide equity values would cause a corresponding change in state street 2019s total revenue of approximately 2% ( 2 % ) .if bond values were to increase or decrease by 10% ( 10 % ) , state street would anticipate a corresponding change of approximately 1% ( 1 % ) in its total revenue .securities lending revenue in 2001 increased approximately 40% ( 40 % ) over 2000 .securities lending revenue is reflected in both servicing fees and management fees .securities lending revenue is a function of the volume of securities lent and interest rate spreads .while volumes increased in 2001 , the year-over-year increase is primarily due to wider interest rate spreads resulting from the unusual occurrence of eleven reductions in the u.s .federal funds target rate during 2001 .f e e r e v e n u e ( dollars in millions ) 2001 ( 1 ) 2000 1999 ( 2 ) change adjusted change 00-01 ( 3 ) .
[['( dollars in millions )', '2001 ( 1 )', '2000', '1999 ( 2 )', 'change 00-01', 'adjusted change 00-01 ( 3 )'], ['servicing fees', '$ 1624', '$ 1425', '$ 1170', '14% ( 14 % )', '14% ( 14 % )'], ['management fees', '511', '581', '600', '-12 ( 12 )', '-5 ( 5 )'], ['foreign exchange trading', '368', '387', '306', '-5 ( 5 )', '-5 ( 5 )'], ['processing fees and other', '329', '272', '236', '21', '21'], ['total fee revenue', '$ 2832', '$ 2665', '$ 2312', '6', '8']]
( 1 ) 2001 results exclude the write-off of state street 2019s total investment in bridge of $ 50 million ( 2 ) 1999 results exclude the one-time charge of $ 57 million related to the repositioning of the investment portfolio ( 3 ) 2000 results adjusted for the formation of citistreet 4 state street corporation .
|
what is the growth rate in total fee revenue in 2000?
|
15.3%
|
{
"answer": "15.3%",
"decimal": 0.153,
"type": "percentage"
}
| |
the goldman sachs group , inc .and subsidiaries management 2019s discussion and analysis equities .includes client execution activities related to making markets in equity products and commissions and fees from executing and clearing institutional client transactions on major stock , options and futures exchanges worldwide , as well as otc transactions .equities also includes our securities services business , which provides financing , securities lending and other prime brokerage services to institutional clients , including hedge funds , mutual funds , pension funds and foundations , and generates revenues primarily in the form of interest rate spreads or fees .the table below presents the operating results of our institutional client services segment. .
[['$ in millions', 'year ended december 2015', 'year ended december 2014', 'year ended december 2013'], ['fixed income currency and commodities client execution', '$ 7322', '$ 8461', '$ 8651'], ['equities client execution1', '3028', '2079', '2594'], ['commissions and fees', '3156', '3153', '3103'], ['securities services', '1645', '1504', '1373'], ['total equities', '7829', '6736', '7070'], ['total net revenues', '15151', '15197', '15721'], ['operating expenses', '13938', '10880', '11792'], ['pre-tax earnings', '$ 1213', '$ 4317', '$ 3929']]
1 .net revenues related to the americas reinsurance business were $ 317 million for 2013 .in april 2013 , we completed the sale of a majority stake in our americas reinsurance business and no longer consolidate this business .2015 versus 2014 .net revenues in institutional client services were $ 15.15 billion for 2015 , essentially unchanged compared with 2014 .net revenues in fixed income , currency and commodities client execution were $ 7.32 billion for 2015 , 13% ( 13 % ) lower than 2014 .excluding a gain of $ 168 million in 2014 related to the extinguishment of certain of our junior subordinated debt , net revenues in fixed income , currency and commodities client execution were 12% ( 12 % ) lower than 2014 , reflecting significantly lower net revenues in mortgages , credit products and commodities .the decreases in mortgages and credit products reflected challenging market-making conditions and generally low levels of activity during 2015 .the decline in commodities primarily reflected less favorable market-making conditions compared with 2014 , which included a strong first quarter of 2014 .these decreases were partially offset by significantly higher net revenues in interest rate products and currencies , reflecting higher volatility levels which contributed to higher client activity levels , particularly during the first quarter of 2015 .net revenues in equities were $ 7.83 billion for 2015 , 16% ( 16 % ) higher than 2014 .excluding a gain of $ 121 million ( $ 30 million and $ 91 million included in equities client execution and securities services , respectively ) in 2014 related to the extinguishment of certain of our junior subordinated debt , net revenues in equities were 18% ( 18 % ) higher than 2014 , primarily due to significantly higher net revenues in equities client execution across the major regions , reflecting significantly higher results in both derivatives and cash products , and higher net revenues in securities services , reflecting the impact of higher average customer balances and improved securities lending spreads .commissions and fees were essentially unchanged compared with 2014 .the firm elects the fair value option for certain unsecured borrowings .the fair value net gain attributable to the impact of changes in our credit spreads on these borrowings was $ 255 million ( $ 214 million and $ 41 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2015 , compared with a net gain of $ 144 million ( $ 108 million and $ 36 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2014 .during 2015 , the operating environment for institutional client services was positively impacted by diverging central bank monetary policies in the united states and the euro area in the first quarter , as increased volatility levels contributed to strong client activity levels in currencies , interest rate products and equity products , and market- making conditions improved .however , during the remainder of the year , concerns about global growth and uncertainty about the u.s .federal reserve 2019s interest rate policy , along with lower global equity prices , widening high-yield credit spreads and declining commodity prices , contributed to lower levels of client activity , particularly in mortgages and credit , and more difficult market-making conditions .if macroeconomic concerns continue over the long term and activity levels decline , net revenues in institutional client services would likely be negatively impacted .operating expenses were $ 13.94 billion for 2015 , 28% ( 28 % ) higher than 2014 , due to significantly higher net provisions for mortgage-related litigation and regulatory matters , partially offset by decreased compensation and benefits expenses .pre-tax earnings were $ 1.21 billion in 2015 , 72% ( 72 % ) lower than 2014 .62 goldman sachs 2015 form 10-k .
|
in millions for 2015 , 2014 , and 2013 , what was the lowest amount of commissions and fees?
|
3103
|
{
"answer": "3103",
"decimal": 3103,
"type": "float"
}
| |
divestiture of the information systems & global solutions business on august 16 , 2016 , we completed the previously announced divestiture of the is&gs business , which merged with a subsidiary of leidos , in a reverse morris trust transaction ( the 201ctransaction 201d ) .the transaction was completed in a multi- step process pursuant to which we initially contributed the is&gs business to abacus innovations corporation ( abacus ) , a wholly owned subsidiary of lockheed martin created to facilitate the transaction , and the common stock of abacus was distributed to participating lockheed martin stockholders through an exchange offer .under the terms of the exchange offer , lockheed martin stockholders had the option to exchange shares of lockheed martin common stock for shares of abacus common stock .at the conclusion of the exchange offer , all shares of abacus common stock were exchanged for 9369694 shares of lockheed martin common stock held by lockheed martin stockholders that elected to participate in the exchange .the shares of lockheed martin common stock that were exchanged and accepted were retired , reducing the number of shares of our common stock outstanding by approximately 3% ( 3 % ) .following the exchange offer , abacus merged with a subsidiary of leidos , with abacus continuing as the surviving corporation and a wholly-owned subsidiary of leidos .as part of the merger , each share of abacus common stock was automatically converted into one share of leidos common stock .we did not receive any shares of leidos common stock as part of the transaction and do not hold any shares of leidos or abacus common stock following the transaction .based on an opinion of outside tax counsel , subject to customary qualifications and based on factual representations , the exchange offer and merger will qualify as tax-free transactions to lockheed martin and its stockholders , except to the extent that cash was paid to lockheed martin stockholders in lieu of fractional shares .in connection with the transaction , abacus borrowed an aggregate principal amount of approximately $ 1.84 billion under term loan facilities with third party financial institutions , the proceeds of which were used to make a one-time special cash payment of $ 1.80 billion to lockheed martin and to pay associated borrowing fees and expenses .the entire special cash payment was used to repay debt , pay dividends and repurchase stock during the third and fourth quarters of 2016 .the obligations under the abacus term loan facilities were guaranteed by leidos as part of the transaction .as a result of the transaction , we recognized a net gain of approximately $ 1.2 billion .the net gain represents the $ 2.5 billion fair value of the shares of lockheed martin common stock exchanged and retired as part of the exchange offer , plus the $ 1.8 billion one-time special cash payment , less the net book value of the is&gs business of about $ 3.0 billion at august 16 , 2016 and other adjustments of about $ 100 million .the final gain is subject to certain post-closing adjustments , including final working capital , indemnification , and tax adjustments , which we expect to complete in 2017 .we classified the operating results of our is&gs business as discontinued operations in our consolidated financial statements in accordance with u.s .gaap , as the divestiture of this business represented a strategic shift that had a major effect on our operations and financial results .however , the cash flows generated by the is&gs business have not been reclassified in our consolidated statements of cash flows as we retained this cash as part of the transaction .the carrying amounts of major classes of the is&gs business assets and liabilities that were classified as assets and liabilities of discontinued operations as of december 31 , 2015 are as follows ( in millions ) : .
[['receivables net', '$ 807'], ['inventories net', '143'], ['other current assets', '19'], ['property plant and equipment net', '101'], ['goodwill', '2881'], ['intangible assets', '125'], ['other noncurrent assets', '54'], ['total assets of the disposal group', '$ 4130'], ['accounts payable', '$ -229 ( 229 )'], ['customer advances and amounts in excess of costs incurred', '-285 ( 285 )'], ['salaries benefits and payroll taxes', '-209 ( 209 )'], ['other current liabilities', '-225 ( 225 )'], ['deferred income taxes', '-145 ( 145 )'], ['other noncurrent liabilities', '-60 ( 60 )'], ['total liabilities of the disposal group', '$ -1153 ( 1153 )']]
.
|
what percentage of the total assets of the disposal group were attributable to receivables net?
|
20%
|
{
"answer": "20%",
"decimal": 0.2,
"type": "percentage"
}
| |
lockheed martin corporation management 2019s discussion and analysis of financial condition and results of operations december 31 , 2002 space systems space systems 2019 operating results included the following : ( in millions ) 2002 2001 2000 .
[['( in millions )', '2002', '2001', '2000'], ['net sales', '$ 7384', '$ 6836', '$ 7339'], ['operating profit', '443', '360', '345']]
net sales for space systems increased by 8% ( 8 % ) in 2002 compared to 2001 .the increase in sales for 2002 resulted from higher volume in government space of $ 370 million and commercial space of $ 180 million .in government space , increases of $ 470 million in government satellite programs and $ 130 million in ground systems activities more than offset volume declines of $ 175 million on government launch vehi- cles and $ 55 million on strategic missile programs .the increase in commercial space sales is primarily attributable to an increase in launch vehicle activities , with nine commercial launches during 2002 compared to six in 2001 .net sales for the segment decreased by 7% ( 7 % ) in 2001 com- pared to 2000 .the decrease in sales for 2001 resulted from volume declines in commercial space of $ 560 million , which more than offset increases in government space of $ 60 million .in commercial space , sales declined due to volume reductions of $ 480 million in commercial launch vehicle activities and $ 80 million in satellite programs .there were six launches in 2001 compared to 14 launches in 2000 .the increase in gov- ernment space resulted from a combined increase of $ 230 mil- lion related to higher volume on government satellite programs and ground systems activities .these increases were partially offset by a $ 110 million decrease related to volume declines in government launch vehicle activity , primarily due to program maturities , and by $ 50 million due to the absence in 2001 of favorable adjustments recorded on the titan iv pro- gram in 2000 .operating profit for the segment increased 23% ( 23 % ) in 2002 as compared to 2001 , mainly driven by the commercial space business .reduced losses in commercial space during 2002 resulted in increased operating profit of $ 90 million when compared to 2001 .commercial satellite manufacturing losses declined $ 100 million in 2002 as operating performance improved and satellite deliveries increased .in the first quarter of 2001 , a $ 40 million loss provision was recorded on certain commercial satellite manufacturing contracts .due to the industry-wide oversupply and deterioration of pricing in the commercial launch market , financial results on commercial launch vehicles continue to be challenging .during 2002 , this trend led to a decline in operating profit of $ 10 million on commercial launch vehicles when compared to 2001 .this decrease was primarily due to lower profitability of $ 55 mil- lion on the three additional launches in the current year , addi- tional charges of $ 60 million ( net of a favorable contract adjustment of $ 20 million ) for market and pricing pressures and included the adverse effect of a $ 35 million adjustment for commercial launch vehicle contract settlement costs .the 2001 results also included charges for market and pricing pressures , which reduced that year 2019s operating profit by $ 145 million .the $ 10 million decrease in government space 2019s operating profit for the year is primarily due to the reduced volume on government launch vehicles and strategic missile programs , which combined to decrease operating profit by $ 80 million , partially offset by increases of $ 40 million in government satellite programs and $ 30 million in ground systems activities .operating profit for the segment increased by 4% ( 4 % ) in 2001 compared to 2000 .operating profit increased in 2001 due to a $ 35 million increase in government space partially offset by higher year-over-year losses of $ 20 million in commercial space .in government space , operating profit increased due to the impact of higher volume and improved performance in ground systems and government satellite programs .the year- to-year comparison of operating profit was not affected by the $ 50 million favorable titan iv adjustment recorded in 2000 discussed above , due to a $ 55 million charge related to a more conservative assessment of government launch vehi- cle programs that was recorded in the fourth quarter of 2000 .in commercial space , decreased operating profit of $ 15 mil- lion on launch vehicles more than offset lower losses on satel- lite manufacturing activities .the commercial launch vehicle operating results included $ 60 million in higher charges for market and pricing pressures when compared to 2000 .these negative adjustments were partially offset by $ 50 million of favorable contract adjustments on certain launch vehicle con- tracts .commercial satellite manufacturing losses decreased slightly from 2000 and included the adverse impact of a $ 40 million loss provision recorded in the first quarter of 2001 for certain commercial satellite contracts related to schedule and technical issues. .
|
what was the operating margin for space systems in 2001?
|
5.2%
|
{
"answer": "5.2%",
"decimal": 0.052000000000000005,
"type": "percentage"
}
| |
our tax returns are currently under examination in various foreign jurisdictions .the major foreign tax jurisdictions under examination include germany , italy and switzerland .it is reasonably possible that such audits will be resolved in the next twelve months , but we do not anticipate that the resolution of these audits would result in any material impact on our results of operations or financial position .12 .capital stock and earnings per share we have 2 million shares of series a participating cumulative preferred stock authorized for issuance , none of which were outstanding as of december 31 , 2007 .the numerator for both basic and diluted earnings per share is net earnings available to common stockholders .the denominator for basic earnings per share is the weighted average number of common shares outstanding during the period .the denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive stock options and other equity awards .the following is a reconciliation of weighted average shares for the basic and diluted share computations for the years ending december 31 ( in millions ) : .
[['', '2007', '2006', '2005'], ['weighted average shares outstanding for basic net earnings per share', '235.5', '243.0', '247.1'], ['effect of dilutive stock options and other equity awards', '2.0', '2.4', '2.7'], ['weighted average shares outstanding for diluted net earnings per share', '237.5', '245.4', '249.8']]
weighted average shares outstanding for basic net earnings per share 235.5 243.0 247.1 effect of dilutive stock options and other equity awards 2.0 2.4 2.7 weighted average shares outstanding for diluted net earnings per share 237.5 245.4 249.8 for the year ended december 31 , 2007 , an average of 3.1 million options to purchase shares of common stock were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of the common stock .for the years ended december 31 , 2006 and 2005 , an average of 7.6 million and 2.9 million options , respectively , were not included .in december 2005 , our board of directors authorized a stock repurchase program of up to $ 1 billion through december 31 , 2007 .in december 2006 , our board of directors authorized an additional stock repurchase program of up to $ 1 billion through december 31 , 2008 .as of december 31 , 2007 we had acquired approximately 19345200 shares at a cost of $ 1378.9 million , before commissions .13 .segment data we design , develop , manufacture and market reconstructive orthopaedic implants , including joint and dental , spinal implants , trauma products and related orthopaedic surgical products which include surgical supplies and instruments designed to aid in orthopaedic surgical procedures and post-operation rehabilitation .we also provide other healthcare related services .revenue related to these services currently represents less than 1 percent of our total net sales .we manage operations through three major geographic segments 2013 the americas , which is comprised principally of the united states and includes other north , central and south american markets ; europe , which is comprised principally of europe and includes the middle east and africa ; and asia pacific , which is comprised primarily of japan and includes other asian and pacific markets .this structure is the basis for our reportable segment information discussed below .management evaluates operating segment performance based upon segment operating profit exclusive of operating expenses pertaining to global operations and corporate expenses , share-based compensation expense , settlement , acquisition , integration and other expenses , inventory step-up , in-process research and development write- offs and intangible asset amortization expense .global operations include research , development engineering , medical education , brand management , corporate legal , finance , and human resource functions , and u.s .and puerto rico based manufacturing operations and logistics .intercompany transactions have been eliminated from segment operating profit .management reviews accounts receivable , inventory , property , plant and equipment , goodwill and intangible assets by reportable segment exclusive of u.s and puerto rico based manufacturing operations and logistics and corporate assets .z i m m e r h o l d i n g s , i n c .2 0 0 7 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) .
|
what percent did the value of basic weight shares outstanding change from 2005 to 2007?
|
-4.694%
|
{
"answer": "-4.694%",
"decimal": -0.04694,
"type": "percentage"
}
| |
entergy new orleans , inc .management's financial discussion and analysis entergy new orleans' receivables from the money pool were as follows as of december 31 for each of the following years: .
[['2004', '2003', '2002', '2001'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['$ 1413', '$ 1783', '$ 3500', '$ 9208']]
money pool activity provided $ 0.4 million of entergy new orleans' operating cash flow in 2004 , provided $ 1.7 million in 2003 , and provided $ 5.7 million in 2002 .see note 4 to the domestic utility companies and system energy financial statements for a description of the money pool .investing activities net cash used in investing activities decreased $ 15.5 million in 2004 primarily due to capital expenditures related to a turbine inspection project at a fossil plant in 2003 and decreased customer service spending .net cash used in investing activities increased $ 23.2 million in 2003 compared to 2002 primarily due to the maturity of $ 14.9 million of other temporary investments in 2002 and increased construction expenditures due to increased customer service spending .financing activities net cash used in financing activities increased $ 7.0 million in 2004 primarily due to the costs and expenses related to refinancing $ 75 million of long-term debt in 2004 and an increase of $ 2.2 million in common stock dividends paid .net cash used in financing activities increased $ 1.5 million in 2003 primarily due to additional common stock dividends paid of $ 2.2 million .in july 2003 , entergy new orleans issued $ 30 million of 3.875% ( 3.875 % ) series first mortgage bonds due august 2008 and $ 70 million of 5.25% ( 5.25 % ) series first mortgage bonds due august 2013 .the proceeds from these issuances were used to redeem , prior to maturity , $ 30 million of 7% ( 7 % ) series first mortgage bonds due july 2008 , $ 40 million of 8% ( 8 % ) series bonds due march 2006 , and $ 30 million of 6.65% ( 6.65 % ) series first mortgage bonds due march 2004 .the issuances and redemptions are not shown on the cash flow statement because the proceeds from the issuances were placed in a trust for use in the redemptions and never held as cash by entergy new orleans .see note 5 to the domestic utility companies and system energy financial statements for details on long- term debt .uses of capital entergy new orleans requires capital resources for : 2022 construction and other capital investments ; 2022 debt and preferred stock maturities ; 2022 working capital purposes , including the financing of fuel and purchased power costs ; and 2022 dividend and interest payments. .
|
what is the annual interest expense related to the series first mortgage bonds due august 2008 , in millions?
|
1.2
|
{
"answer": "1.2",
"decimal": 1.2,
"type": "float"
}
| |
part ii item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities market price of and dividends on the registrant 2019s common equity and related stockholder matters market information .our class a common stock is quoted on the nasdaq global select market under the symbol 201cdish . 201d the high and low closing sale prices of our class a common stock during 2014 and 2013 on the nasdaq global select market ( as reported by nasdaq ) are set forth below. .
[['2014', 'high', 'low'], ['first quarter', '$ 62.42', '$ 54.10'], ['second quarter', '65.64', '56.23'], ['third quarter', '66.71', '61.87'], ['fourth quarter', '79.41', '57.96'], ['2013', 'high', 'low'], ['first quarter', '$ 38.02', '$ 34.19'], ['second quarter', '42.52', '36.24'], ['third quarter', '48.09', '41.66'], ['fourth quarter', '57.92', '45.68']]
as of february 13 , 2015 , there were approximately 8208 holders of record of our class a common stock , not including stockholders who beneficially own class a common stock held in nominee or street name .as of february 10 , 2015 , 213247004 of the 238435208 outstanding shares of our class b common stock were beneficially held by charles w .ergen , our chairman , and the remaining 25188204 were held in trusts established by mr .ergen for the benefit of his family .there is currently no trading market for our class b common stock .dividends .on december 28 , 2012 , we paid a cash dividend of $ 1.00 per share , or approximately $ 453 million , on our outstanding class a and class b common stock to stockholders of record at the close of business on december 14 , 2012 .while we currently do not intend to declare additional dividends on our common stock , we may elect to do so from time to time .payment of any future dividends will depend upon our earnings and capital requirements , restrictions in our debt facilities , and other factors the board of directors considers appropriate .we currently intend to retain our earnings , if any , to support future growth and expansion , although we may repurchase shares of our common stock from time to time .see further discussion under 201citem 7 .management 2019s discussion and analysis of financial condition and results of operations 2013 liquidity and capital resources 201d in this annual report on form 10-k .securities authorized for issuance under equity compensation plans .see 201citem 12 .security ownership of certain beneficial owners and management and related stockholder matters 201d in this annual report on form 10-k. .
|
what is the grow rate in the price of class a common stock in the fourth quarter of 2014 compare to the same quarter of 2013 , if we take into accounting the highest prices in both periods?
|
37.1%
|
{
"answer": "37.1%",
"decimal": 0.371,
"type": "percentage"
}
| |
jpmorgan chase & co./2010 annual report 187 trading assets and liabilities trading assets include debt and equity instruments held for trading purposes that jpmorgan chase owns ( 201clong 201d positions ) , certain loans managed on a fair value basis and for which the firm has elected the fair value option , and physical commodities inventories that are generally accounted for at the lower of cost or fair value .trading liabilities include debt and equity instruments that the firm has sold to other parties but does not own ( 201cshort 201d positions ) .the firm is obligated to purchase instruments at a future date to cover the short positions .included in trading assets and trading liabilities are the reported receivables ( unrealized gains ) and payables ( unre- alized losses ) related to derivatives .trading assets and liabilities are carried at fair value on the consolidated balance sheets .bal- ances reflect the reduction of securities owned ( long positions ) by the amount of securities sold but not yet purchased ( short posi- tions ) when the long and short positions have identical committee on uniform security identification procedures ( 201ccusips 201d ) .trading assets and liabilities 2013average balances average trading assets and liabilities were as follows for the periods indicated. .
[['year ended december 31 ( in millions )', '2010', '2009', '2008'], ['trading assets 2013 debt and equity instruments ( a )', '$ 354441', '$ 318063', '$ 384102'], ['trading assets 2013 derivative receivables', '84676', '110457', '121417'], ['trading liabilities 2013 debt and equity instruments ( a ) ( b )', '78159', '60224', '78841'], ['trading liabilities 2013 derivative payables', '65714', '77901', '93200']]
( a ) balances reflect the reduction of securities owned ( long positions ) by the amount of securities sold , but not yet purchased ( short positions ) when the long and short positions have identical cusips .( b ) primarily represent securities sold , not yet purchased .note 4 2013 fair value option the fair value option provides an option to elect fair value as an alternative measurement for selected financial assets , financial liabilities , unrecognized firm commitments , and written loan com- mitments not previously carried at fair value .elections elections were made by the firm to : 2022 mitigate income statement volatility caused by the differences in the measurement basis of elected instruments ( for example , cer- tain instruments elected were previously accounted for on an accrual basis ) while the associated risk management arrange- ments are accounted for on a fair value basis ; 2022 eliminate the complexities of applying certain accounting models ( e.g. , hedge accounting or bifurcation accounting for hybrid in- struments ) ; and 2022 better reflect those instruments that are managed on a fair value basis .elections include the following : 2022 loans purchased or originated as part of securitization ware- housing activity , subject to bifurcation accounting , or man- aged on a fair value basis .2022 securities financing arrangements with an embedded deriva- tive and/or a maturity of greater than one year .2022 owned beneficial interests in securitized financial assets that contain embedded credit derivatives , which would otherwise be required to be separately accounted for as a derivative in- strument .2022 certain tax credits and other equity investments acquired as part of the washington mutual transaction .2022 structured notes issued as part of ib 2019s client-driven activities .( structured notes are financial instruments that contain em- bedded derivatives. ) 2022 long-term beneficial interests issued by ib 2019s consolidated securitization trusts where the underlying assets are carried at fair value. .
|
what is the 2020 net derivative balance in billions?
|
18962
|
{
"answer": "18962",
"decimal": 18962,
"type": "float"
}
| |
united parcel service , inc .and subsidiaries notes to consolidated financial statements 2014 ( continued ) the following table summarizes the activity related to our unrecognized tax benefits ( in millions ) : .
[['balance at january 1 2007', '$ 373'], ['additions for tax positions of the current year', '13'], ['additions for tax positions of prior years', '34'], ['reductions for tax positions of prior years for:', ''], ['changes in judgment or facts', '-12 ( 12 )'], ['settlements during the period', '-49 ( 49 )'], ['lapses of applicable statute of limitations', '-4 ( 4 )'], ['balance at december 31 2007', '$ 355']]
as of december 31 , 2007 , the total amount of gross unrecognized tax benefits that , if recognized , would affect the effective tax rate was $ 134 million .we also had gross recognized tax benefits of $ 567 million recorded as of december 31 , 2007 associated with outstanding refund claims for prior tax years .therefore , we had a net receivable recorded with respect to prior year income tax matters in the accompanying balance sheets .our continuing practice is to recognize interest and penalties associated with income tax matters as a component of income tax expense .related to the uncertain tax benefits noted above , we accrued penalties of $ 5 million and interest of $ 36 million during 2007 .as of december 31 , 2007 , we have recognized a liability for penalties of $ 6 million and interest of $ 75 million .additionally , we have recognized a receivable for interest of $ 116 million for the recognized tax benefits associated with outstanding refund claims .we file income tax returns in the u.s .federal jurisdiction , most u.s .state and local jurisdictions , and many non-u.s .jurisdictions .as of december 31 , 2007 , we had substantially resolved all u.s .federal income tax matters for tax years prior to 1999 .in the third quarter of 2007 , we entered into a joint stipulation to dismiss the case with the department of justice , effectively withdrawing our refund claim related to the 1994 disposition of a subsidiary in france .the write-off of previously recognized tax receivable balances associated with the 1994 french matter resulted in a $ 37 million increase in income tax expense for the quarter .however , this increase was offset by the impact of favorable developments with various other u.s .federal , u.s .state , and non-u.s .contingency matters .in february 2008 , the irs completed its audit of the tax years 1999 through 2002 with only a limited number of issues that will be considered by the irs appeals office by 2009 .the irs is in the final stages of completing its audit of the tax years 2003 through 2004 .we anticipate that the irs will conclude its audit of the 2003 and 2004 tax years by 2009 .with few exceptions , we are no longer subject to u.s .state and local and non-u.s .income tax examinations by tax authorities for tax years prior to 1999 , but certain u.s .state and local matters are subject to ongoing litigation .a number of years may elapse before an uncertain tax position is audited and ultimately settled .it is difficult to predict the ultimate outcome or the timing of resolution for uncertain tax positions .it is reasonably possible that the amount of unrecognized tax benefits could significantly increase or decrease within the next twelve months .items that may cause changes to unrecognized tax benefits include the timing of interest deductions , the deductibility of acquisition costs , the consideration of filing requirements in various states , the allocation of income and expense between tax jurisdictions and the effects of terminating an election to have a foreign subsidiary join in filing a consolidated return .these changes could result from the settlement of ongoing litigation , the completion of ongoing examinations , the expiration of the statute of limitations , or other unforeseen circumstances .at this time , an estimate of the range of the reasonably possible change cannot be .
|
what is the net change in the balance of unrecognized tax benefits during 2007?
|
-18
|
{
"answer": "-18",
"decimal": -18,
"type": "float"
}
| |
jpmorgan chase & co./2010 annual report 219 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agree- ments 201d ) primarily to finance the firm 2019s inventory positions , ac- quire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations .securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets .resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest .securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received .where appropriate under applicable ac- counting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis .fees received or paid in connection with securities financing agreements are recorded in interest income or interest expense .the firm has elected the fair value option for certain securities financing agreements .for a further discussion of the fair value option , see note 4 on pages 187 2013189 of this annual report .the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated bal- ance sheets .generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue .however , for financial instru- ments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue .the following table details the firm 2019s securities financing agree- ments , all of which are accounted for as collateralized financings during the periods presented. .
[['december 31 ( in millions )', '2010', '2009'], ['securities purchased under resale agreements ( a )', '$ 222302', '$ 195328'], ['securities borrowed ( b )', '123587', '119630'], ['securities sold under repurchase agreements ( c )', '$ 262722', '$ 245692'], ['securities loaned', '10592', '7835']]
( a ) includes resale agreements of $ 20.3 billion and $ 20.5 billion accounted for at fair value at december 31 , 2010 and 2009 , respectively .( b ) includes securities borrowed of $ 14.0 billion and $ 7.0 billion accounted for at fair value at december 31 , 2010 and 2009 , respectively .( c ) includes repurchase agreements of $ 4.1 billion and $ 3.4 billion accounted for at fair value at december 31 , 2010 and 2009 , respectively .the amounts reported in the table above have been reduced by $ 112.7 billion and $ 121.2 billion at december 31 , 2010 and 2009 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance .jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securi- ties borrowed .the firm monitors the market value of the un- derlying securities that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities .margin levels are established initially based upon the counterparty and type of collateral and moni- tored on an ongoing basis to protect against declines in collat- eral value in the event of default .jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities bor- rowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default .as a result of the firm 2019s credit risk mitigation practices described above on resale and securities borrowed agreements , the firm did not hold any reserves for credit impairment on these agreements as of december 31 , 2010 and 2009 .for a further discussion of assets pledged and collateral received in securities financing agreements see note 31 on pages 280 2013 281 of this annual report. .
|
what were average repurchase agreements accounted for at fair value for 2010 and 2009 , in billions?
|
3.7
|
{
"answer": "3.7",
"decimal": 3.7,
"type": "float"
}
| |
korea engineering plastics co. , ltd .founded in 1987 , kepco is the leading producer of pom in south korea .kepco is a venture between celanese's ticona business ( 50% ( 50 % ) ) , mitsubishi gas chemical company , inc .( 40% ( 40 % ) ) and mitsubishi corporation ( 10% ( 10 % ) ) .kepco has polyacetal production facilities in ulsan , south korea , compounding facilities for pbt and nylon in pyongtaek , south korea , and participates with polyplastics and mitsubishi gas chemical company , inc .in a world-scale pom facility in nantong , china .polyplastics co. , ltd .polyplastics is a leading supplier of engineered plastics in the asia-pacific region and is a venture between daicel chemical industries ltd. , japan ( 55% ( 55 % ) ) , and celanese's ticona business ( 45% ( 45 % ) ) .established in 1964 , polyplastics is a producer and marketer of pom and lcp in the asia-pacific region , with principal production facilities located in japan , taiwan , malaysia and china .fortron industries llc .fortron is a leading global producer of polyphenylene sulfide ( 201cpps 201d ) , sold under the fortron ae brand , which is used in a wide variety of automotive and other applications , especially those requiring heat and/or chemical resistance .established in 1992 , fortron is a limited liability company whose members are ticona fortron inc .( 50% ( 50 % ) ownership and a wholly-owned subsidiary of cna holdings , llc ) and kureha corporation ( 50% ( 50 % ) ownership and a wholly-owned subsidiary of kureha chemical industry co. , ltd .of japan ) .fortron's facility is located in wilmington , north carolina .this venture combines the sales , marketing , distribution , compounding and manufacturing expertise of celanese with the pps polymer technology expertise of kureha .china acetate strategic ventures .we hold an approximate 30% ( 30 % ) ownership interest in three separate acetate production ventures in china .these include the nantong cellulose fibers co .ltd. , kunming cellulose fibers co .ltd .and zhuhai cellulose fibers co .ltd .the china national tobacco corporation , the chinese state-owned tobacco entity , controls the remaining ownership interest in each of these ventures .with an estimated 30% ( 30 % ) share of the world's cigarette production and consumption , china is the world's largest and fastest growing area for acetate tow products according to the 2009 stanford research institute international chemical economics handbook .combined , these ventures are a leader in chinese domestic acetate production and are well positioned to supply chinese cigarette producers .in december 2009 , we announced plans with china national tobacco to expand our acetate flake and tow capacity at our venture's nantong facility and we received formal approval for the expansions , each by 30000 tons , during 2010 .since their inception in 1986 , the china acetate ventures have completed 12 expansions , leading to earnings growth and increased dividends .our chinese acetate ventures fund their operations using operating cash flow .during 2011 , we made contributions of $ 8 million related to the capacity expansions in nantong and have committed contributions of $ 9 million in 2012 .in 2010 , we made contributions of $ 12 million .our chinese acetate ventures pay a dividend in the second quarter of each fiscal year , based on the ventures' performance for the preceding year .in 2011 , 2010 and 2009 , we received cash dividends of $ 78 million , $ 71 million and $ 56 million , respectively .although our ownership interest in each of our china acetate ventures exceeds 20% ( 20 % ) , we account for these investments using the cost method of accounting because we determined that we cannot exercise significant influence over these entities due to local government investment in and influence over these entities , limitations on our involvement in the day-to-day operations and the present inability of the entities to provide timely financial information prepared in accordance with generally accepted accounting principles in the united states ( 201cus gaap 201d ) .2022 other equity method investments infraservs .we hold indirect ownership interests in several infraserv groups in germany that own and develop industrial parks and provide on-site general and administrative support to tenants .the table below represents our equity investments in infraserv ventures as of december 31 , 2011: .
[['', 'ownership % ( % )'], ['infraserv gmbh & co . gendorf kg', '39'], ['infraserv gmbh & co . knapsack kg', '27'], ['infraserv gmbh & co . hoechst kg', '32']]
.
|
what is the growth rate in cash dividends received in 2011 compare to 2010?
|
9.9%
|
{
"answer": "9.9%",
"decimal": 0.099,
"type": "percentage"
}
| |
notes to consolidated financial statements ( continued ) note 2 2014financial instruments ( continued ) typically , the company hedges portions of its forecasted foreign currency exposure associated with revenue and inventory purchases over a time horizon of up to 6 months .derivative instruments designated as cash flow hedges must be de-designated as hedges when it is probable the forecasted hedged transaction will not occur in the initially identified time period or within a subsequent 2 month time period .deferred gains and losses in other comprehensive income associated with such derivative instruments are immediately reclassified into earnings in other income and expense .any subsequent changes in fair value of such derivative instruments are also reflected in current earnings unless they are re-designated as hedges of other transactions .the company recognized net gains of approximately $ 672000 and $ 421000 in 2007 and 2006 , respectively , and a net loss of $ 1.6 million in 2005 in other income and expense related to the loss of hedge designation on discontinued cash flow hedges due to changes in the company 2019s forecast of future net sales and cost of sales and due to prevailing market conditions .as of september 29 , 2007 , the company had a net deferred gain associated with cash flow hedges of approximately $ 468000 , net of taxes , substantially all of which is expected to be reclassified to earnings by the end of the second quarter of fiscal 2008 .the net gain or loss on the effective portion of a derivative instrument designated as a net investment hedge is included in the cumulative translation adjustment account of accumulated other comprehensive income within shareholders 2019 equity .for the years ended september 29 , 2007 and september 30 , 2006 , the company had a net loss of $ 2.6 million and a net gain of $ 7.4 million , respectively , included in the cumulative translation adjustment .the company may also enter into foreign currency forward and option contracts to offset the foreign exchange gains and losses generated by the re-measurement of certain assets and liabilities recorded in non-functional currencies .changes in the fair value of these derivatives are recognized in current earnings in other income and expense as offsets to the changes in the fair value of the related assets or liabilities .due to currency market movements , changes in option time value can lead to increased volatility in other income and expense .note 3 2014consolidated financial statement details ( in millions ) other current assets .
[['', '2007', '2006'], ['vendor non-trade receivables', '$ 2392', '$ 1593'], ['nand flash memory prepayments', '417', '208'], ['other current assets', '996', '469'], ['total other current assets', '$ 3805', '$ 2270']]
.
|
what percentage of total other current assets in 2007 was comprised of nand flash memory prepayments?
|
11%
|
{
"answer": "11%",
"decimal": 0.11,
"type": "percentage"
}
| |
as of december 31 , 2006 , we also leased an office and laboratory facility in connecticut , additional office , distribution and storage facilities in san diego , and four foreign facilities located in japan , singapore , china and the netherlands under non-cancelable operating leases that expire at various times through july 2011 .these leases contain renewal options ranging from one to five years .as of december 31 , 2006 , our contractual obligations were ( in thousands ) : contractual obligation total less than 1 year 1 2013 3 years 1 2013 5 years more than 5 years .
[['contractual obligation', 'payments due by period total', 'payments due by period less than 1 year', 'payments due by period 1 2013 3 years', 'payments due by period 1 2013 5 years', 'payments due by period more than 5 years'], ['operating leases', '$ 37899', '$ 5320', '$ 10410', '$ 9371', '$ 12798'], ['total', '$ 37899', '$ 5320', '$ 10410', '$ 9371', '$ 12798']]
the above table does not include orders for goods and services entered into in the normal course of business that are not enforceable or legally binding .item 7a .quantitative and qualitative disclosures about market risk .interest rate sensitivity our exposure to market risk for changes in interest rates relates primarily to our investment portfolio .the fair market value of fixed rate securities may be adversely impacted by fluctuations in interest rates while income earned on floating rate securities may decline as a result of decreases in interest rates .under our current policies , we do not use interest rate derivative instruments to manage exposure to interest rate changes .we attempt to ensure the safety and preservation of our invested principal funds by limiting default risk , market risk and reinvestment risk .we mitigate default risk by investing in investment grade securities .we have historically maintained a relatively short average maturity for our investment portfolio , and we believe a hypothetical 100 basis point adverse move in interest rates along the entire interest rate yield curve would not materially affect the fair value of our interest sensitive financial instruments .foreign currency exchange risk although most of our revenue is realized in u.s .dollars , some portions of our revenue are realized in foreign currencies .as a result , our financial results could be affected by factors such as changes in foreign currency exchange rates or weak economic conditions in foreign markets .the functional currencies of our subsidiaries are their respective local currencies .accordingly , the accounts of these operations are translated from the local currency to the u.s .dollar using the current exchange rate in effect at the balance sheet date for the balance sheet accounts , and using the average exchange rate during the period for revenue and expense accounts .the effects of translation are recorded in accumulated other comprehensive income as a separate component of stockholders 2019 equity. .
|
what percentage of total contractual obligations are due in more than 5 years?
|
34%
|
{
"answer": "34%",
"decimal": 0.34,
"type": "percentage"
}
| |
notes to consolidated financial statements sumitomo mitsui financial group , inc .( smfg ) provides the firm with credit loss protection on certain approved loan commitments ( primarily investment-grade commercial lending commitments ) .the notional amount of such loan commitments was $ 29.24 billion and $ 32.41 billion as of december 2013 and december 2012 , 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 $ 870 million and $ 300 million of protection had been provided as of december 2013 and december 2012 , respectively .the firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by smfg .these instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity , or credit default swaps that reference a market index .warehouse financing .the firm provides financing to clients who warehouse financial assets .these arrangements are secured by the warehoused assets , primarily consisting of corporate loans and commercial mortgage loans .contingent and forward starting resale and securities borrowing agreements/forward starting repurchase and secured lending agreements the firm enters into resale and securities borrowing agreements and repurchase and secured lending agreements that settle at a future date , generally within three business days .the firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements .the firm 2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused .investment commitments the firm 2019s investment commitments consist of commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages .these commitments include $ 659 million and $ 872 million as of december 2013 and december 2012 , respectively , related to real estate private investments and $ 6.46 billion and $ 6.47 billion as of december 2013 and december 2012 , respectively , related to corporate and other private investments .of these amounts , $ 5.48 billion and $ 6.21 billion as of december 2013 and december 2012 , respectively , relate to commitments to invest in funds managed by the firm .if these commitments are called , they would be funded at market value on the date of investment .leases the firm has contractual obligations under long-term noncancelable lease agreements , principally for office space , expiring on various dates through 2069 .certain agreements are subject to periodic escalation provisions for increases in real estate taxes and other charges .the table below presents future minimum rental payments , net of minimum sublease rentals .in millions december 2013 .
[['in millions', 'as of december 2013'], ['2014', '$ 387'], ['2015', '340'], ['2016', '280'], ['2017', '271'], ['2018', '222'], ['2019 - thereafter', '1195'], ['total', '$ 2695']]
rent charged to operating expense was $ 324 million for 2013 , $ 374 million for 2012 and $ 475 million for 2011 .operating leases include office space held in excess of current requirements .rent expense relating to space held for growth is included in 201coccupancy . 201d the firm records a liability , based on the fair value of the remaining lease rentals reduced by any potential or existing sublease rentals , for leases where the firm has ceased using the space and management has concluded that the firm will not derive any future economic benefits .costs to terminate a lease before the end of its term are recognized and measured at fair value on termination .contingencies legal proceedings .see note 27 for information about legal proceedings , including certain mortgage-related matters .certain mortgage-related contingencies .there are multiple areas of focus by regulators , governmental agencies and others within the mortgage market that may impact originators , issuers , servicers and investors .there remains significant uncertainty surrounding the nature and extent of any potential exposure for participants in this market .182 goldman sachs 2013 annual report .
|
what percentage of future minimum rental payments are due in 2015?
|
13%
|
{
"answer": "13%",
"decimal": 0.13,
"type": "percentage"
}
| |
apply as it has no impact on plan obligations .for 2015 , the healthcare trend rate was 7% ( 7 % ) , the ultimate trend rate was 5% ( 5 % ) , and the year the ultimate trend rate is reached was 2019 .projected benefit payments are as follows: .
[['2017', '$ 11.5'], ['2018', '11.0'], ['2019', '10.7'], ['2020', '10.2'], ['2021', '9.7'], ['2022 20132026', '35.3']]
these estimated benefit payments are based on assumptions about future events .actual benefit payments may vary significantly from these estimates .17 .commitments and contingencies litigation we are involved in various legal proceedings , including commercial , competition , environmental , health , safety , product liability , and insurance matters .in september 2010 , the brazilian administrative council for economic defense ( cade ) issued a decision against our brazilian subsidiary , air products brasil ltda. , and several other brazilian industrial gas companies for alleged anticompetitive activities .cade imposed a civil fine of r$ 179.2 million ( approximately $ 55 at 30 september 2016 ) on air products brasil ltda .this fine was based on a recommendation by a unit of the brazilian ministry of justice , whose investigation began in 2003 , alleging violation of competition laws with respect to the sale of industrial and medical gases .the fines are based on a percentage of our total revenue in brazil in 2003 .we have denied the allegations made by the authorities and filed an appeal in october 2010 with the brazilian courts .on 6 may 2014 , our appeal was granted and the fine against air products brasil ltda .was dismissed .cade has appealed that ruling and the matter remains pending .we , with advice of our outside legal counsel , have assessed the status of this matter and have concluded that , although an adverse final judgment after exhausting all appeals is possible , such a judgment is not probable .as a result , no provision has been made in the consolidated financial statements .we estimate the maximum possible loss to be the full amount of the fine of r$ 179.2 million ( approximately $ 55 at 30 september 2016 ) plus interest accrued thereon until final disposition of the proceedings .other than this matter , we do not currently believe there are any legal proceedings , individually or in the aggregate , that are reasonably possible to have a material impact on our financial condition , results of operations , or cash flows .environmental in the normal course of business , we are involved in legal proceedings under the comprehensive environmental response , compensation , and liability act ( cercla : the federal superfund law ) ; resource conservation and recovery act ( rcra ) ; and similar state and foreign environmental laws relating to the designation of certain sites for investigation or remediation .presently , there are approximately 33 sites on which a final settlement has not been reached where we , along with others , have been designated a potentially responsible party by the environmental protection agency or are otherwise engaged in investigation or remediation , including cleanup activity at certain of our current and former manufacturing sites .we continually monitor these sites for which we have environmental exposure .accruals for environmental loss contingencies are recorded when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated .the consolidated balance sheets at 30 september 2016 and 2015 included an accrual of $ 81.4 and $ 80.6 , respectively , primarily as part of other noncurrent liabilities .the environmental liabilities will be paid over a period of up to 30 years .we estimate the exposure for environmental loss contingencies to range from $ 81 to a reasonably possible upper exposure of $ 95 as of 30 september 2016. .
|
considering the years 2019-2020 , what was the decrease observed in the projected benefit payments?
|
4.67%
|
{
"answer": "4.67%",
"decimal": 0.0467,
"type": "percentage"
}
|
it is the 2020 value of the projected benefit payment divided by the 2019's then subtracted 1 and turned into a percentage .
|
as of december 31 , 2006 , the company also leased an office and laboratory facility in connecticut , additional office , distribution and storage facilities in san diego , and four foreign facilities located in japan , singapore , china and the netherlands under non-cancelable operating leases that expire at various times through june 2011 .these leases contain renewal options ranging from one to five years .as of december 31 , 2006 , annual future minimum payments under these operating leases were as follows ( in thousands ) : .
[['2007', '5320'], ['2008', '5335'], ['2009', '5075'], ['2010', '4659'], ['2011', '4712'], ['2012 and thereafter', '12798'], ['total', '$ 37899']]
rent expense , net of amortization of the deferred gain on sale of property , was $ 4723041 , $ 4737218 , and $ 1794234 for the years ended december 31 , 2006 , january 1 , 2006 and january 2 , 2005 , respectively .6 .stockholders 2019 equity common stock as of december 31 , 2006 , the company had 46857512 shares of common stock outstanding , of which 4814744 shares were sold to employees and consultants subject to restricted stock agreements .the restricted common shares vest in accordance with the provisions of the agreements , generally over five years .all unvested shares are subject to repurchase by the company at the original purchase price .as of december 31 , 2006 , 36000 shares of common stock were subject to repurchase .in addition , the company also issued 12000 shares for a restricted stock award to an employee under the company 2019s new 2005 stock and incentive plan based on service performance .these shares vest monthly over a three-year period .stock options 2005 stock and incentive plan in june 2005 , the stockholders of the company approved the 2005 stock and incentive plan ( the 2005 stock plan ) .upon adoption of the 2005 stock plan , issuance of options under the company 2019s existing 2000 stock plan ceased .the 2005 stock plan provides that an aggregate of up to 11542358 shares of the company 2019s common stock be reserved and available to be issued .in addition , the 2005 stock plan provides for an automatic annual increase in the shares reserved for issuance by the lesser of 5% ( 5 % ) of outstanding shares of the company 2019s common stock on the last day of the immediately preceding fiscal year , 1200000 shares or such lesser amount as determined by the company 2019s board of directors .illumina , inc .notes to consolidated financial statements 2014 ( continued ) .
|
as of december 31 , 2006 , annual future minimum payments under these operating leases what was the percent of the amount in 2007
|
14%
|
{
"answer": "14%",
"decimal": 0.14,
"type": "percentage"
}
|
as of december 31 , 2006 , 14% of the annual future minimum payments under these operating leases was due 2007
|
borrowings reflect net proceeds received from the issuance of senior notes in june 2015 .see liquidity and capital resources below for additional information .in november 2015 , we repaid our $ 1 billion 0.90% ( 0.90 % ) senior notes upon maturity .in october 2015 , we announced an adjustment to our quarterly dividend .see capital requirements below for additional information .additions to property , plant and equipment are our most significant use of cash and cash equivalents .the following table shows capital expenditures related to continuing operations by segment and reconciles to additions to property , plant and equipment as presented in the consolidated statements of cash flows for 2015 , 2014 and 2013: .
[['( in millions )', 'year ended december 31 , 2015', 'year ended december 31 , 2014', 'year ended december 31 , 2013'], ['north america e&p', '$ 2553', '$ 4698', '$ 3649'], ['international e&p', '368', '534', '456'], ['oil sands mining ( a )', '-10 ( 10 )', '212', '286'], ['corporate', '25', '51', '58'], ['total capital expenditures', '2936', '5495', '4449'], ['change in capital expenditure accrual', '540', '-335 ( 335 )', '-6 ( 6 )'], ['additions to property plant and equipment', '$ 3476', '$ 5160', '$ 4443']]
( a ) reflects reimbursements earned from the governments of canada and alberta related to funds previously expended for quest ccs capital equipment .quest ccs was successfully completed and commissioned in the fourth quarter of 2015 .during 2014 , we acquired 29 million shares at a cost of $ 1 billion and in 2013 acquired 14 million shares at a cost of $ 500 million .there were no share repurchases in 2015 .see item 8 .financial statements and supplementary data 2013 note 23 to the consolidated financial statements for discussion of purchases of common stock .liquidity and capital resources on june 10 , 2015 , we issued $ 2 billion aggregate principal amount of unsecured senior notes which consist of the following series : 2022 $ 600 million of 2.70% ( 2.70 % ) senior notes due june 1 , 2020 2022 $ 900 million of 3.85% ( 3.85 % ) senior notes due june 1 , 2025 2022 $ 500 million of 5.20% ( 5.20 % ) senior notes due june 1 , 2045 interest on each series of senior notes is payable semi-annually beginning december 1 , 2015 .we used the aggregate net proceeds to repay our $ 1 billion 0.90% ( 0.90 % ) senior notes on november 2 , 2015 , and the remainder for general corporate purposes .in may 2015 , we amended our $ 2.5 billion credit facility to increase the facility size by $ 500 million to a total of $ 3.0 billion and extend the maturity date by an additional year such that the credit facility now matures in may 2020 .the amendment additionally provides us the ability to request two one-year extensions to the maturity date and an option to increase the commitment amount by up to an additional $ 500 million , subject to the consent of any increasing lenders .the sub-facilities for swing-line loans and letters of credit remain unchanged allowing up to an aggregate amount of $ 100 million and $ 500 million , respectively .fees on the unused commitment of each lender , as well as the borrowing options under the credit facility , remain unchanged .our main sources of liquidity are cash and cash equivalents , internally generated cash flow from operations , capital market transactions , our committed revolving credit facility and sales of non-core assets .our working capital requirements are supported by these sources and we may issue either commercial paper backed by our $ 3.0 billion revolving credit facility or draw on our $ 3.0 billion revolving credit facility to meet short-term cash requirements or issue debt or equity securities through the shelf registration statement discussed below as part of our longer-term liquidity and capital management .because of the alternatives available to us as discussed above , we believe that our short-term and long-term liquidity is adequate to fund not only our current operations , but also our near-term and long-term funding requirements including our capital spending programs , dividend payments , defined benefit plan contributions , repayment of debt maturities and other amounts that may ultimately be paid in connection with contingencies .general economic conditions , commodity prices , and financial , business and other factors could affect our operations and our ability to access the capital markets .a downgrade in our credit ratings could negatively impact our cost of capital and our ability to access the capital markets , increase the interest rate and fees we pay on our unsecured revolving credit facility , restrict our access to the commercial paper market , or require us to post letters of credit or other forms of collateral for certain .
|
what percentage of total capital expenditures in 2016 were related to north america e&p?
|
87.0%
|
{
"answer": "87.0%",
"decimal": 0.87,
"type": "percentage"
}
| |
stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , scripps network interactive , inc .( acquired by the company in march 2018 ) , time warner , inc .( acquired by at&t inc .in june 2018 ) , twenty-first century fox , inc .class a common stock ( news corporation class a common stock prior to june 2013 ) , viacom , inc .class b common stock and the walt disney company .the graph assumes $ 100 originally invested on december 31 , 2013 in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the years ended december 31 , 2014 , 2015 , 2016 , 2017 and 2018 .two peer companies , scripps networks interactive , inc .and time warner , inc. , were acquired in 2018 .the stock performance chart shows the peer group including scripps networks interactive , inc .and time warner , inc .and excluding both acquired companies for the entire five year period .december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
[['', 'december 312013', 'december 312014', 'december 312015', 'december 312016', 'december 312017', 'december 312018'], ['disca', '$ 100.00', '$ 74.58', '$ 57.76', '$ 59.34', '$ 48.45', '$ 53.56'], ['discb', '$ 100.00', '$ 80.56', '$ 58.82', '$ 63.44', '$ 53.97', '$ 72.90'], ['disck', '$ 100.00', '$ 80.42', '$ 60.15', '$ 63.87', '$ 50.49', '$ 55.04'], ['s&p 500', '$ 100.00', '$ 111.39', '$ 110.58', '$ 121.13', '$ 144.65', '$ 135.63'], ['peer group incl . acquired companies', '$ 100.00', '$ 116.64', '$ 114.02', '$ 127.96', '$ 132.23', '$ 105.80'], ['peer group ex . acquired companies', '$ 100.00', '$ 113.23', '$ 117.27', '$ 120.58', '$ 127.90', '$ 141.58']]
equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2019 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference. .
|
what was the percentage cumulative total shareholder return on disca for the five year period ended december 31 , 2018?
|
-46.44%
|
{
"answer": "-46.44%",
"decimal": -0.4644,
"type": "percentage"
}
| |
management 2019s discussion and analysis business-specific limits .the firmwide finance committee sets asset and liability limits for each business and aged inventory limits for certain financial instruments as a disincentive to hold inventory over longer periods of time .these limits are set at levels which are close to actual operating levels in order to ensure prompt escalation and discussion among business managers and managers in our independent control and support functions on a routine basis .the firmwide finance committee reviews and approves balance sheet limits on a quarterly basis and may also approve changes in limits on an ad hoc basis in response to changing business needs or market conditions .monitoring of key metrics .we monitor key balance sheet metrics daily both by business and on a consolidated basis , including asset and liability size and composition , aged inventory , limit utilization , risk measures and capital usage .we allocate assets to businesses and review and analyze movements resulting from new business activity as well as market fluctuations .scenario analyses .we conduct scenario analyses to determine how we would manage the size and composition of our balance sheet and maintain appropriate funding , liquidity and capital positions in a variety of situations : 2030 these scenarios cover short-term and long-term time horizons using various macro-economic and firm-specific assumptions .we use these analyses to assist us in developing longer-term funding plans , including the level of unsecured debt issuances , the size of our secured funding program and the amount and composition of our equity capital .we also consider any potential future constraints , such as limits on our ability to grow our asset base in the absence of appropriate funding .2030 through our internal capital adequacy assessment process ( icaap ) , ccar , the stress tests we are required to conduct under the dodd-frank act , and our resolution and recovery planning , we further analyze how we would manage our balance sheet and risks through the duration of a severe crisis and we develop plans to access funding , generate liquidity , and/or redeploy or issue equity capital , as appropriate .balance sheet allocation in addition to preparing our consolidated statements of financial condition in accordance with u.s .gaap , we prepare a balance sheet that generally allocates assets to our businesses , which is a non-gaap presentation and may not be comparable to similar non-gaap presentations used by other companies .we believe that presenting our assets on this basis is meaningful because it is consistent with the way management views and manages risks associated with the firm 2019s assets and better enables investors to assess the liquidity of the firm 2019s assets .the table below presents a summary of this balance sheet allocation. .
[['in millions', 'as of december 2012', 'as of december 2011'], ['excess liquidity ( global core excess )', '$ 174622', '$ 171581'], ['other cash', '6839', '7888'], ['excess liquidity and cash', '181461', '179469'], ['secured client financing', '229442', '283707'], ['inventory', '318323', '273640'], ['secured financing agreements', '76277', '71103'], ['receivables', '36273', '35769'], ['institutional client services', '430873', '380512'], ['icbc1', '2082', '4713'], ['equity ( excluding icbc )', '21267', '23041'], ['debt', '25386', '23311'], ['receivables and other', '8421', '5320'], ['investing & lending', '57156', '56385'], ['total inventory and related assets', '488029', '436897'], ['otherassets2', '39623', '23152'], ['total assets', '$ 938555', '$ 923225']]
1 .in january 2013 , we sold approximately 45% ( 45 % ) of our ordinary shares of icbc .2 .includes assets related to our reinsurance business classified as held for sale as of december 2012 .see note 12 to the consolidated financial statements for further information .62 goldman sachs 2012 annual report .
|
what is the debt-to-asset ratio in 2012?
|
2.7%
|
{
"answer": "2.7%",
"decimal": 0.027000000000000003,
"type": "percentage"
}
| |
the following table provides the weighted average assumptions used in the black-scholes option-pricing model for grants and the resulting weighted average grant date fair value per share of stock options granted for the years ended december 31: .
[['', '2018', '2017', '2016'], ['intrinsic value', '$ 9', '$ 10', '$ 18'], ['exercise proceeds', '7', '11', '15'], ['income tax benefit realized', '2', '3', '6']]
stock units during 2018 , 2017 and 2016 , the company granted rsus to certain employees under the 2007 plan and 2017 omnibus plan , as applicable .rsus generally vest based on continued employment with the company over periods ranging from one to three years. .
|
at what tax rate was exercise proceeds taxed at in 2018?
|
28.6%
|
{
"answer": "28.6%",
"decimal": 0.28600000000000003,
"type": "percentage"
}
| |
z i m m e r h o l d i n g s , i n c .a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k contractual obligations the company has entered into contracts with various third parties in the normal course of business which will require future payments .the following table illustrates the company 2019s contractual obligations : than 1 - 3 4 - 5 after contractual obligations total 1 year years years 5 years .
[['contractual obligations', 'total', 'less than 1 year', '1 - 3 years', '4 - 5 years', 'after 5 years'], ['long-term debt', '$ 1103.0', '$ 100.0', '$ 655.3', '$ 347.7', '$ 2013'], ['capital leases', '6.1', '1.3', '3.7', '1.1', '2013'], ['operating leases', '77.2', '23.0', '32.3', '9.2', '12.7'], ['purchase obligations', '13.3', '13.3', '2013', '2013', '2013'], ['other long-term liabilities', '352.6', '2013', '139.9', '42.0', '170.7'], ['total contractual obligations', '$ 1552.2', '$ 137.6', '$ 831.2', '$ 400.0', '$ 183.4']]
critical accounting estimates the financial results of the company are affected by the income taxes 2013 the company estimates income selection and application of accounting policies and methods .tax expense and income tax liabilities and assets by taxable significant accounting policies which require management 2019s jurisdiction .realization of deferred tax assets in each taxable judgment are discussed below .jurisdiction is dependent on the company 2019s ability to generate future taxable income sufficient to realize the excess inventory and instruments 2013 the company benefits .the company evaluates deferred tax assets on must determine as of each balance sheet date how much , if an ongoing basis and provides valuation allowances if it is any , of its inventory may ultimately prove to be unsaleable or determined to be 2018 2018more likely than not 2019 2019 that the deferred unsaleable at its carrying cost .similarly , the company must tax benefit will not be realized .federal income taxes are also determine if instruments on hand will be put to provided on the portion of the income of foreign subsidiaries productive use or remain undeployed as a result of excess that is expected to be remitted to the u.s .the company supply .reserves are established to effectively adjust operates within numerous taxing jurisdictions .the company inventory and instruments to net realizable value .to is subject to regulatory review or audit in virtually all of determine the appropriate level of reserves , the company those jurisdictions and those reviews and audits may require evaluates current stock levels in relation to historical and extended periods of time to resolve .the company makes use expected patterns of demand for all of its products and of all available information and makes reasoned judgments instrument systems and components .the basis for the regarding matters requiring interpretation in establishing determination is generally the same for all inventory and tax expense , liabilities and reserves .the company believes instrument items and categories except for work-in-progress adequate provisions exist for income taxes for all periods inventory , which is recorded at cost .obsolete or and jurisdictions subject to review or audit .discontinued items are generally destroyed and completely written off .management evaluates the need for changes to commitments and contingencies 2013 accruals for valuation reserves based on market conditions , competitive product liability and other claims are established with offerings and other factors on a regular basis .centerpulse internal and external counsel based on current information historically applied a similar conceptual framework in and historical settlement information for claims , related fees estimating market value of excess inventory and instruments and for claims incurred but not reported .an actuarial model under international financial reporting standards and is used by the company to assist management in determining u.s .generally accepted accounting principles .within that an appropriate level of accruals for product liability claims .framework , zimmer and centerpulse differed however , in historical patterns of claim loss development over time are certain respects , to their approaches to such estimation .statistically analyzed to arrive at factors which are then following the acquisition , the company determined that a applied to loss estimates in the actuarial model .the amounts consistent approach is necessary to maintaining effective established represent management 2019s best estimate of the control over financial reporting .consideration was given to ultimate costs that it will incur under the various both approaches and the company established a common contingencies .estimation technique taking both prior approaches into account .this change in estimate resulted in a charge to earnings of $ 3.0 million after tax in the fourth quarter .such change is not considered material to the company 2019s financial position , results of operations or cash flows. .
|
what percent of total contractual obligations is comprised of long-term debt?
|
71%
|
{
"answer": "71%",
"decimal": 0.71,
"type": "percentage"
}
| |
fair value of financial instruments the carrying amounts shown for the company 2019s cash and cash equivalents , accounts receivable and accounts payable approximate fair value because of the short term maturity of those instruments .the fair value of the long term debt approximates its carrying value based on the variable nature of interest rates and current market rates available to the company .the fair value of foreign currency forward contracts is based on the net difference between the u.s .dollars to be received or paid at the contracts 2019 settlement date and the u.s .dollar value of the foreign currency to be sold or purchased at the current forward exchange rate .recently issued accounting standards in june 2011 , the financial accounting standards board ( 201cfasb 201d ) issued an accounting standards update which eliminates the option to report other comprehensive income and its components in the statement of changes in stockholders 2019 equity .it requires an entity to present total comprehensive income , which includes the components of net income and the components of other comprehensive income , either in a single continuous statement or in two separate but consecutive statements .in december 2011 , the fasb issued an amendment to this pronouncement which defers the specific requirement to present components of reclassifications of other comprehensive income on the face of the income statement .these pronouncements are effective for financial statements issued for fiscal years , and interim periods within those years , beginning after december 15 , 2011 .the company believes the adoption of these pronouncements will not have a material impact on its consolidated financial statements .in may 2011 , the fasb issued an accounting standards update which clarifies requirements for how to measure fair value and for disclosing information about fair value measurements common to accounting principles generally accepted in the united states of america and international financial reporting standards .this guidance is effective for interim and annual periods beginning on or after december 15 , 2011 .the company believes the adoption of this guidance will not have a material impact on its consolidated financial statements .3 .inventories inventories consisted of the following: .
[['( in thousands )', 'december 31 , 2011', 'december 31 , 2010'], ['finished goods', '$ 323606', '$ 214524'], ['raw materials', '803', '831'], ['total inventories', '$ 324409', '$ 215355']]
4 .acquisitions in july 2011 , the company acquired approximately 400.0 thousand square feet of office space comprising its corporate headquarters for $ 60.5 million .the acquisition included land , buildings , tenant improvements and third party lease-related intangible assets .as of the purchase date , 163.6 thousand square feet of the 400.0 thousand square feet acquired was leased to third party tenants .these leases had remaining lease terms ranging from 9 months to 15 years on the purchase date .the company intends to occupy additional space as it becomes available .since the acquisition , the company has invested $ 2.2 million in additional improvements .the acquisition included the assumption of a $ 38.6 million loan secured by the property and the remaining purchase price was paid in cash funded primarily by a $ 25.0 million term loan borrowed in may 2011 .the carrying value of the assumed loan approximated its fair value on the date of the acquisition .refer to note 7 for .
|
what was the percentage change in the inventory of finished goods from 2010 to 2011
|
50.8%
|
{
"answer": "50.8%",
"decimal": 0.508,
"type": "percentage"
}
|
the inventory of finished goods increased by 50.8% from 2010 to 2011
|
management 2019s discussion and analysis of financial condition and results of operations ( continued ) the npr is generally consistent with the basel committee 2019s lcr .however , it includes certain more stringent requirements , including an accelerated implementation time line and modifications to the definition of high-quality liquid assets and expected outflow assumptions .we continue to analyze the proposed rules and analyze their impact as well as develop strategies for compliance .the principles of the lcr are consistent with our liquidity management framework ; however , the specific calibrations of various elements within the final lcr rule , such as the eligibility of assets as hqla , operational deposit requirements and net outflow requirements could have a material effect on our liquidity , funding and business activities , including the management and composition of our investment securities portfolio and our ability to extend committed contingent credit facilities to our clients .in january 2014 , the basel committee released a revised proposal with respect to the net stable funding ratio , or nsfr , which will establish a one-year liquidity standard representing the proportion of long-term assets funded by long-term stable funding , scheduled for global implementation in 2018 .the revised nsfr has made some favorable changes regarding the treatment of operationally linked deposits and a reduction in the funding required for certain securities .however , we continue to review the specifics of the basel committee's release and will be evaluating the u.s .implementation of this standard to analyze the impact and develop strategies for compliance .u.s .banking regulators have not yet issued a proposal to implement the nsfr .contractual cash obligations and other commitments the following table presents our long-term contractual cash obligations , in total and by period due as of december 31 , 2013 .these obligations were recorded in our consolidated statement of condition as of that date , except for operating leases and the interest portions of long-term debt and capital leases .contractual cash obligations .
[['as of december 31 2013 ( in millions )', 'payments due by period total', 'payments due by period less than 1year', 'payments due by period 1-3years', 'payments due by period 4-5years', 'payments due by period over 5years'], ['long-term debt ( 1 )', '$ 10630', '$ 1015', '$ 2979', '$ 2260', '$ 4376'], ['operating leases', '923', '208', '286', '209', '220'], ['capital lease obligations', '1051', '99', '185', '169', '598'], ['total contractual cash obligations', '$ 12604', '$ 1322', '$ 3450', '$ 2638', '$ 5194']]
( 1 ) long-term debt excludes capital lease obligations ( presented as a separate line item ) and the effect of interest-rate swaps .interest payments were calculated at the stated rate with the exception of floating-rate debt , for which payments were calculated using the indexed rate in effect as of december 31 , 2013 .the table above does not include obligations which will be settled in cash , primarily in less than one year , such as client deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings .additional information about deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings is provided in notes 8 and 9 to the consolidated financial statements included under item 8 of this form 10-k .the table does not include obligations related to derivative instruments because the derivative-related amounts recorded in our consolidated statement of condition as of december 31 , 2013 did not represent the amounts that may ultimately be paid under the contracts upon settlement .additional information about our derivative instruments is provided in note 16 to the consolidated financial statements included under item 8 of this form 10-k .we have obligations under pension and other post-retirement benefit plans , more fully described in note 19 to the consolidated financial statements included under item 8 of this form 10-k , which are not included in the above table .additional information about contractual cash obligations related to long-term debt and operating and capital leases is provided in notes 10 and 20 to the consolidated financial statements included under item 8 of this form 10-k .our consolidated statement of cash flows , also included under item 8 of this form 10-k , provides additional liquidity information .the following table presents our commitments , other than the contractual cash obligations presented above , in total and by duration as of december 31 , 2013 .these commitments were not recorded in our consolidated statement of condition as of that date. .
|
what percent of total contractual obligations has been differed over 5 years?
|
41.21
|
{
"answer": "41.21",
"decimal": 41.21,
"type": "float"
}
| |
measurement point december 31 booking holdings nasdaq composite index s&p 500 rdg internet composite .
[['measurement pointdecember 31', 'booking holdings inc .', 'nasdaqcomposite index', 's&p 500index', 'rdg internetcomposite'], ['2012', '100.00', '100.00', '100.00', '100.00'], ['2013', '187.37', '141.63', '132.39', '163.02'], ['2014', '183.79', '162.09', '150.51', '158.81'], ['2015', '205.51', '173.33', '152.59', '224.05'], ['2016', '236.31', '187.19', '170.84', '235.33'], ['2017', '280.10', '242.29', '208.14', '338.52']]
sales of unregistered securities between october 1 , 2017 and december 31 , 2017 , we issued 103343 shares of our common stock in connection with the conversion of $ 196.1 million principal amount of our 1.0% ( 1.0 % ) convertible senior notes due 2018 .the conversions were effected in accordance with the indenture , which provides that the principal amount of converted notes be paid in cash and the conversion premium be paid in cash and/or shares of common stock at our election .in each case , we chose to pay the conversion premium in shares of common stock ( fractional shares are paid in cash ) .the issuances of the shares were not registered under the securities act of 1933 , as amended ( the "act" ) pursuant to section 3 ( a ) ( 9 ) of the act. .
|
what was the percentage difference between booking holdings inc . and the s&p 500 index for the five years ended 2017?
|
71.96%
|
{
"answer": "71.96%",
"decimal": 0.7195999999999999,
"type": "percentage"
}
| |
derivative instruments see quantitative and qualitative disclosures about market risk for a discussion of derivative instruments and associated market risk .dividends to stockholders dividends of $ 0.92 per common share or $ 637 million were paid during 2007 .on january 27 , 2008 , our board of directors declared a dividend of $ 0.24 cents per share on our common stock , payable march 10 , 2008 , to stockholders of record at the close of business on february 20 , 2008 .liquidity and capital resources our main sources of liquidity and capital resources are internally generated cash flow from operations , committed credit facilities and access to both the debt and equity capital markets .our ability to access the debt capital market is supported by our investment grade credit ratings .our senior unsecured debt is currently rated investment grade by standard and poor 2019s corporation , moody 2019s investor services , inc .and fitch ratings with ratings of bbb+ , baa1 , and bbb+ .these ratings were reaffirmed in july 2007 after the western acquisition was announced .because of the alternatives available to us , including internally generated cash flow and potential asset sales , we believe that our short-term and long-term liquidity is adequate to fund operations , including our capital spending programs , stock repurchase program , repayment of debt maturities and any amounts that ultimately may be paid in connection with contingencies .we have a committed $ 3.0 billion revolving credit facility with third-party financial institutions terminating in may 2012 .at december 31 , 2007 , there were no borrowings against this facility and we had no commercial paper outstanding under our u.s .commercial paper program that is backed by this revolving credit facility .on july 26 , 2007 , we filed a universal shelf registration statement with the securities and exchange commission , under which we , as a well-known seasoned issuer , have the ability to issue and sell an indeterminate amount of various types of debt and equity securities .our cash-adjusted debt-to-capital ratio ( total debt-minus-cash to total debt-plus-equity-minus-cash ) was 22 percent at december 31 , 2007 , compared to six percent at year-end 2006 as shown below .this includes $ 498 million of debt that is serviced by united states steel .( dollars in millions ) 2007 2006 .
[['( dollars in millions )', '2007', '2006'], ['long-term debt due within one year', '$ 1131', '$ 471'], ['long-term debt', '6084', '3061'], ['total debt', '$ 7215', '$ 3532'], ['cash', '$ 1199', '$ 2585'], ['trusteed funds from revenue bonds ( a )', '$ 744', '$ 2013'], ['equity', '$ 19223', '$ 14607'], ['calculation:', '', ''], ['total debt', '$ 7215', '$ 3532'], ['minus cash', '1199', '2585'], ['minus trusteed funds from revenue bonds', '744', '2013'], ['total debt minus cash', '5272', '947'], ['total debt', '7215', '3532'], ['plus equity', '19223', '14607'], ['minus cash', '1199', '2585'], ['minus trusteed funds from revenue bonds', '744', '2013'], ['total debt plus equity minus cash', '$ 24495', '$ 15554'], ['cash-adjusted debt-to-capital ratio', '22% ( 22 % )', '6% ( 6 % )']]
( a ) following the issuance of the $ 1.0 billion of revenue bonds by the parish of st .john the baptist , the proceeds were trusteed and will be disbursed to us upon our request for reimbursement of expenditures related to the garyville refinery expansion .the trusteed funds are reflected as other noncurrent assets in the accompanying consolidated balance sheet as of december 31 , 2007. .
|
did the company increase it's quarterly dividend rate from 2007 to 2008?
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
our digital media business consists of our websites and mobile and video-on-demand ( 201cvod 201d ) services .our websites include network branded websites such as discovery.com , tlc.com and animalplanet.com , and other websites such as howstuffworks.com , an online source of explanations of how the world actually works ; treehugger.com , a comprehensive source for 201cgreen 201d news , solutions and product information ; and petfinder.com , a leading pet adoption destination .together , these websites attracted an average of 24 million cumulative unique monthly visitors , according to comscore , inc .in 2011 .international networks our international networks segment principally consists of national and pan-regional television networks .this segment generates revenues primarily from fees charged to operators who distribute our networks , which primarily include cable and dth satellite service providers , and from advertising sold on our television networks and websites .discovery channel , animal planet and tlc lead the international networks 2019 portfolio of television networks , which are distributed in virtually every pay-television market in the world through an infrastructure that includes operational centers in london , singapore and miami .international networks has one of the largest international distribution platforms of networks with one to twelve networks in more than 200 countries and territories around the world .at december 31 , 2011 , international networks operated over 150 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities .our international networks segment owns and operates the following television networks which reached the following number of subscribers as of december 31 , 2011 : education and other our education and other segment primarily includes the sale of curriculum-based product and service offerings and postproduction audio services .this segment generates revenues primarily from subscriptions charged to k-12 schools for access to an online suite of curriculum-based vod tools , professional development services , and to a lesser extent student assessment and publication of hardcopy curriculum-based content .our education business also participates in corporate partnerships , global brand and content licensing business with leading non-profits , foundations and trade associations .other businesses primarily include postproduction audio services that are provided to major motion picture studios , independent producers , broadcast networks , cable channels , advertising agencies , and interactive producers .content development our content development strategy is designed to increase viewership , maintain innovation and quality leadership , and provide value for our network distributors and advertising customers .substantially all content is sourced from a wide range of third-party producers , which includes some of the world 2019s leading nonfiction production companies with which we have developed long-standing relationships , as well as independent producers .our production arrangements fall into three categories : produced , coproduced and licensed .substantially all produced content includes programming which we engage third parties to develop and produce while we retain editorial control and own most or all of the rights in exchange for paying all development and production costs .coproduced content refers to program rights acquired that we have collaborated with third parties to finance and develop .coproduced programs are typically high-cost projects for which neither we nor our coproducers wish to bear the entire cost or productions in which the producer has already taken on an international broadcast partner .licensed content is comprised of films or series that have been previously produced by third parties .global networks international subscribers ( millions ) regional networks international subscribers ( millions ) .
[['global networks discovery channel', 'international subscribers ( millions ) 213', 'regional networks dmax', 'international subscribers ( millions ) 47'], ['animal planet', '166', 'discovery kids', '37'], ['tlc real time and travel & living', '150', 'liv', '29'], ['discovery science', '66', 'quest', '23'], ['discovery home & health', '48', 'discovery history', '13'], ['turbo', '37', 'shed', '12'], ['discovery world', '27', 'discovery en espanol ( u.s. )', '5'], ['investigation discovery', '23', 'discovery famillia ( u.s. )', '4'], ['hd services', '17', '', '']]
.
|
what is the difference in millions of subscribers between discovery channel international subscribers and animal planet international subscribers?
|
47
|
{
"answer": "47",
"decimal": 47,
"type": "float"
}
| |
the containerboard group ( a division of tenneco packaging inc. ) notes to combined financial statements ( continued ) april 11 , 1999 14 .leases ( continued ) to the sale transaction on april 12 , 1999 .therefore , the remaining outstanding aggregate minimum rental commitments under noncancelable operating leases are as follows : ( in thousands ) .
[['remainder of 1999', '$ 7606'], ['2000', '7583'], ['2001', '4891'], ['2002', '3054'], ['2003', '1415'], ['thereafter', '1178'], ['total', '$ 25727']]
15 .sale of assets in the second quarter of 1996 , packaging entered into an agreement to form a joint venture with caraustar industries whereby packaging sold its two recycled paperboard mills and a fiber recycling operation and brokerage business to the joint venture in return for cash and a 20% ( 20 % ) equity interest in the joint venture .proceeds from the sale were approximately $ 115 million and the group recognized a $ 50 million pretax gain ( $ 30 million after taxes ) in the second quarter of 1996 .in june , 1998 , packaging sold its remaining 20% ( 20 % ) equity interest in the joint venture to caraustar industries for cash and a note of $ 26000000 .the group recognized a $ 15 million pretax gain on this transaction .at april 11 , 1999 , the balance of the note with accrued interest is $ 27122000 .the note was paid in june , 1999 .16 .subsequent events on august 25 , 1999 , pca and packaging agreed that the acquisition consideration should be reduced as a result of a postclosing price adjustment by an amount equal to $ 20 million plus interest through the date of payment by packaging .the group recorded $ 11.9 million of this amount as part of the impairment charge on the accompanying financial statements , representing the amount that was previously estimated by packaging .pca intends to record the remaining amount in september , 1999 .in august , 1999 , pca signed purchase and sales agreements with various buyers to sell approximately 405000 acres of timberland .pca has completed the sale of approximately 260000 of these acres and expects to complete the sale of the remaining acres by mid-november , 1999. .
|
what percentage of outstanding aggregate minimum rental commitments under noncancelable operating leases are due in 2001?
|
19%
|
{
"answer": "19%",
"decimal": 0.19,
"type": "percentage"
}
| |
note 2 2013 earnings per share the weighted average number of shares outstanding used to compute earnings per common share were as follows ( in millions ) : .
[['', '2018', '2017', '2016'], ['weighted average common shares outstanding for basic computations', '284.5', '287.8', '299.3'], ['weighted average dilutive effect of equity awards', '2.3', '2.8', '3.8'], ['weighted average common shares outstanding for diluted computations', '286.8', '290.6', '303.1']]
we compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented .our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units ( rsus ) , performance stock units ( psus ) and exercise of outstanding stock options based on the treasury stock method .there were no significant anti-dilutive equity awards for the years ended december 31 , 2018 , 2017 and 2016 .note 3 2013 acquisition and divestitures consolidation of awe management limited on august 24 , 2016 , we increased our ownership interest in the awe joint venture , which operates the united kingdom 2019s nuclear deterrent program , from 33% ( 33 % ) to 51% ( 51 % ) .consequently , we began consolidating awe and our operating results include 100% ( 100 % ) of awe 2019s sales and 51% ( 51 % ) of its operating profit .prior to increasing our ownership interest , we accounted for our investment in awe using the equity method of accounting .under the equity method , we recognized only 33% ( 33 % ) of awe 2019s earnings or losses and no sales .accordingly , prior to august 24 , 2016 , the date we obtained control , we recorded 33% ( 33 % ) of awe 2019s net earnings in our operating results and subsequent to august 24 , 2016 , we recognized 100% ( 100 % ) of awe 2019s sales and 51% ( 51 % ) of its operating profit .we accounted for this transaction as a 201cstep acquisition 201d ( as defined by u.s .gaap ) , which requires us to consolidate and record the assets and liabilities of awe at fair value .accordingly , we recorded intangible assets of $ 243 million related to customer relationships , $ 32 million of net liabilities , and noncontrolling interests of $ 107 million .the intangible assets are being amortized over a period of eight years in accordance with the underlying pattern of economic benefit reflected by the future net cash flows .in 2016 , we recognized a non-cash net gain of $ 104 million associated with obtaining a controlling interest in awe , which consisted of a $ 127 million pretax gain recognized in the operating results of our space business segment and $ 23 million of tax-related items at our corporate office .the gain represented the fair value of our 51% ( 51 % ) interest in awe , less the carrying value of our previously held investment in awe and deferred taxes .the gain was recorded in other income , net on our consolidated statements of earnings .the fair value of awe ( including the intangible assets ) , our controlling interest , and the noncontrolling interests were determined using the income approach .divestiture of the information systems & global solutions business on august 16 , 2016 , we divested our former is&gs business , which merged with leidos , in a reverse morris trust transaction ( the 201ctransaction 201d ) .the transaction was completed in a multi-step process pursuant to which we initially contributed the is&gs business to abacus innovations corporation ( abacus ) , a wholly owned subsidiary of lockheed martin created to facilitate the transaction , and the common stock of abacus was distributed to participating lockheed martin stockholders through an exchange offer .under the terms of the exchange offer , lockheed martin stockholders had the option to exchange shares of lockheed martin common stock for shares of abacus common stock .at the conclusion of the exchange offer , all shares of abacus common stock were exchanged for 9369694 shares of lockheed martin common stock held by lockheed martin stockholders that elected to participate in the exchange .the shares of lockheed martin common stock that were exchanged and accepted were retired , reducing the number of shares of our common stock outstanding by approximately 3% ( 3 % ) .following the exchange offer , abacus merged with a subsidiary of leidos , with abacus continuing as the surviving corporation and a wholly-owned subsidiary of leidos .as part of the merger , each share of abacus common stock was automatically converted into one share of leidos common stock .we did not receive any shares of leidos common stock as part of the transaction and do not hold any shares of leidos or abacus common stock following the transaction .based on an opinion of outside tax counsel , subject to customary qualifications and based on factual representations , the exchange offer and merger will qualify as tax-free transactions to lockheed martin and its stockholders , except to the extent that cash was paid to lockheed martin stockholders in lieu of fractional shares .in connection with the transaction , abacus borrowed an aggregate principal amount of approximately $ 1.84 billion under term loan facilities with third party financial institutions , the proceeds of which were used to make a one-time special cash payment of $ 1.80 billion to lockheed martin and to pay associated borrowing fees and expenses .the entire special cash payment was used to repay debt , pay dividends and repurchase stock during the third and fourth quarters of 2016 .the obligations under the abacus term loan facilities were guaranteed by leidos as part of the transaction. .
|
what is the percentage change in weighted average common shares outstanding for basic computations from 2016 to 2017?
|
-3.8%
|
{
"answer": "-3.8%",
"decimal": -0.038,
"type": "percentage"
}
| |
improvements are amortized using the straight-line method over the lesser of the remaining respective lease term or estimated useful lives ranging from 1 to 15 years .goodwill , purchased intangibles and other long-lived assets we review our goodwill for impairment annually , or more frequently , if facts and circumstances warrant a review .we completed our annual impairment test in the second quarter of fiscal 2011 and determined that there was no impairment .in the fourth quarter of fiscal 2011 , we announced changes to our business strategy which resulted in a reduction of forecasted revenue for certain of our products .we performed an update to our goodwill impairment test for the enterprise reporting unit and determined there was no impairment .goodwill is assigned to one or more reporting segments on the date of acquisition .we evaluate goodwill for impairment by comparing the fair value of each of our reporting segments to its carrying value , including the associated goodwill .to determine the fair values , we use the market approach based on comparable publicly traded companies in similar lines of businesses and the income approach based on estimated discounted future cash flows .our cash flow assumptions consider historical and forecasted revenue , operating costs and other relevant factors .we amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists .we continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets , including our intangible assets may not be recoverable .when such events or changes in circumstances occur , we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows .if the future undiscounted cash flows are less than the carrying amount of these assets , we recognize an impairment loss based on any excess of the carrying amount over the fair value of the assets .we did not recognize any intangible asset impairment charges in fiscal 2011 , 2010 or 2009 .our intangible assets are amortized over their estimated useful lives of 1 to 13 years .amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed .the weighted average useful lives of our intangibles assets was as follows: .
[['', 'weighted averageuseful life ( years )'], ['purchased technology', '6'], ['customer contracts and relationships', '10'], ['trademarks', '7'], ['acquired rights to use technology', '9'], ['localization', '1'], ['other intangibles', '3']]
weighted average useful life ( years ) software development costs capitalization of software development costs for software to be sold , leased , or otherwise marketed begins upon the establishment of technological feasibility , which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate .amortization begins once the software is ready for its intended use , generally based on the pattern in which the economic benefits will be consumed .to date , software development costs incurred between completion of a working prototype and general availability of the related product have not been material .internal use software we capitalize costs associated with customized internal-use software systems that have reached the application development stage .such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related expenses for employees , who are directly associated with the development of the applications .capitalization of such costs begins when the preliminary project stage is complete and ceases at the point in which the project is substantially complete and is ready for its intended purpose .table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .
|
was the weighted average useful life ( years ) of purchased technology greater than customer contracts and relationships?
|
no
|
{
"answer": "no",
"decimal": null,
"type": "bool"
}
| |
foreign currency exchange rate risk many of our non-u.s .companies maintain both assets and liabilities in local currencies .therefore , foreign exchange rate risk is generally limited to net assets denominated in those foreign currencies .foreign exchange rate risk is reviewed as part of our risk management process .locally required capital levels are invested in home currencies in order to satisfy regulatory require- ments and to support local insurance operations regardless of currency fluctuations .the principal currencies creating foreign exchange risk for us are the british pound sterling , the euro , and the canadian dollar .the following table provides more information on our exposure to foreign exchange rate risk at december 31 , 2008 and 2007. .
[['( in millions of u.s . dollars )', '2008', '2007'], ['fair value of net assets denominated in foreign currencies', '$ 1127', '$ 1651'], ['percentage of fair value of total net assets', '7.8% ( 7.8 % )', '9.9% ( 9.9 % )'], ['pre-tax impact on equity of hypothetical 10 percent strengthening of the u.s . dollar', '$ 84', '$ 150']]
reinsurance of gmdb and gmib guarantees our net income is directly impacted by changes in the reserves calculated in connection with the reinsurance of variable annuity guarantees , primarily gmdb and gmib .these reserves are calculated in accordance with sop 03-1 ( sop reserves ) and changes in these reserves are reflected as life and annuity benefit expense , which is included in life underwriting income .in addition , our net income is directly impacted by the change in the fair value of the gmib liability ( fvl ) , which is classified as a derivative according to fas 133 .the fair value liability established for a gmib reinsurance contract represents the differ- ence between the fair value of the contract and the sop 03-1 reserves .changes in the fair value of the gmib liability , net of associated changes in the calculated sop 03-1 reserve , are reflected as realized gains or losses .ace views our variable annuity reinsurance business as having a similar risk profile to that of catastrophe reinsurance , with the probability of long-term economic loss relatively small at the time of pricing .adverse changes in market factors and policyholder behavior will have an impact on both life underwriting income and net income .when evaluating these risks , we expect to be compensated for taking both the risk of a cumulative long-term economic net loss , as well as the short-term accounting variations caused by these market movements .therefore , we evaluate this business in terms of its long-term eco- nomic risk and reward .the ultimate risk to the variable annuity guaranty reinsurance business is a long-term underperformance of investment returns , which can be exacerbated by a long-term reduction in interest rates .following a market downturn , continued market underperformance over a period of five to seven years would eventually result in a higher level of paid claims as policyholders accessed their guarantees through death or annuitization .however , if market conditions improved following a downturn , sop 03-1 reserves and fair value liability would fall reflecting a decreased likelihood of future claims , which would result in an increase in both life underwriting income and net income .as of december 31 , 2008 , management established the sop 03-1 reserve based on the benefit ratio calculated using actual market values at december 31 , 2008 .management exercises judgment in determining the extent to which short-term market movements impact the sop 03-1 reserve .the sop 03-1 reserve is based on the calculation of a long-term benefit ratio ( or loss ratio ) for the variable annuity guarantee reinsurance .despite the long-term nature of the risk the benefit ratio calculation is impacted by short-term market movements that may be judged by management to be temporary or transient .management will , in keeping with the language in sop 03-1 , regularly examine both quantitative and qualitative analysis and management will determine if , in its judgment , the change in the calculated benefit ratio is of sufficient magnitude and has persisted for a sufficient duration to warrant a change in the benefit ratio used to establish the sop 03-1 reserve .this has no impact on either premium received or claims paid nor does it impact the long-term profit or loss of the variable annuity guaran- tee reinsurance .the sop 03-1 reserve and fair value liability calculations are directly affected by market factors , including equity levels , interest rate levels , credit risk and implied volatilities , as well as policyholder behaviors , such as annuitization and lapse rates .the table below shows the sensitivity , as of december 31 , 2008 , of the sop 03-1 reserves and fair value liability associated with the variable annuity guarantee reinsurance portfolio .in addition , the tables below show the sensitivity of the fair value of specific derivative instruments held ( hedge value ) , which includes instruments purchased in january 2009 , to partially offset the risk in the variable annuity guarantee reinsurance portfolio .although these derivatives do not receive hedge accounting treatment , some portion of the change in value may be used to offset changes in the sop 03-1 reserve. .
|
what is percentage change in fair value of net assets denominated in foreign currencies from 2007 to 2008?
|
-31.7%
|
{
"answer": "-31.7%",
"decimal": -0.317,
"type": "percentage"
}
| |
deposits 2014deposits include escrow funds and certain other deposits held in trust .the company includes cash deposits in other current assets .deferred compensation obligations 2014the company 2019s deferred compensation plans allow participants to defer certain cash compensation into notional investment accounts .the company includes such plans in other long-term liabilities .the value of the company 2019s deferred compensation obligations is based on the market value of the participants 2019 notional investment accounts .the notional investments are comprised primarily of mutual funds , which are based on observable market prices .mark-to-market derivative asset and liability 2014the company utilizes fixed-to-floating interest-rate swaps , typically designated as fair-value hedges , to achieve a targeted level of variable-rate debt as a percentage of total debt .the company also employs derivative financial instruments in the form of variable-to-fixed interest rate swaps and forward starting interest rate swaps , classified as economic hedges and cash flow hedges , respectively , in order to fix the interest cost on existing or forecasted debt .the company uses a calculation of future cash inflows and estimated future outflows , which are discounted , to determine the current fair value .additional inputs to the present value calculation include the contract terms , counterparty credit risk , interest rates and market volatility .other investments 2014other investments primarily represent money market funds used for active employee benefits .the company includes other investments in other current assets .note 18 : leases the company has entered into operating leases involving certain facilities and equipment .rental expenses under operating leases were $ 29 million , $ 24 million and $ 21 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .the operating leases for facilities will expire over the next 25 years and the operating leases for equipment will expire over the next 5 years .certain operating leases have renewal options ranging from one to five years .the minimum annual future rental commitment under operating leases that have initial or remaining non-cancelable lease terms over the next 5 years and thereafter are as follows: .
[['', 'amount'], ['2018', '$ 15'], ['2019', '14'], ['2020', '12'], ['2021', '9'], ['2022', '8'], ['thereafter', '65']]
the company has a series of agreements with various public entities ( the 201cpartners 201d ) to establish certain joint ventures , commonly referred to as 201cpublic-private partnerships . 201d under the public-private partnerships , the company constructed utility plant , financed by the company and the partners constructed utility plant ( connected to the company 2019s property ) , financed by the partners .the company agreed to transfer and convey some of its real and personal property to the partners in exchange for an equal principal amount of industrial development bonds ( 201cidbs 201d ) , issued by the partners under a state industrial development bond and commercial development act .the company leased back the total facilities , including portions funded by both the company and the partners , under leases for a period of 40 years .the leases related to the portion of the facilities funded by the company have required payments from the company to the partners that approximate the payments required by the terms of the idbs from the partners to the company ( as the holder of the idbs ) .as the ownership of the portion of the facilities constructed by the .
|
what were the average operating rental expenses from 2015 to 2017 in millions
|
24.67
|
{
"answer": "24.67",
"decimal": 24.67,
"type": "float"
}
|
the average is the sum of the periods divided by the count
|
the goldman sachs group , inc .and subsidiaries management 2019s discussion and analysis investing & lending investing & lending includes our investing activities and the origination of loans , including our relationship lending activities , to provide financing to clients .these investments and loans are typically longer-term in nature .we make investments , some of which are consolidated , including through our merchant banking business and our special situations group , in debt securities and loans , public and private equity securities , infrastructure and real estate entities .some of these investments are made indirectly through funds that we manage .we also make unsecured and secured loans to retail clients through our digital platforms , marcus and goldman sachs private bank select ( gs select ) , respectively .the table below presents the operating results of our investing & lending segment. .
[['$ in millions', 'year ended december 2017', 'year ended december 2016', 'year ended december 2015'], ['equity securities', '$ 4578', '$ 2573', '$ 3781'], ['debt securities and loans', '2003', '1507', '1655'], ['total net revenues', '6581', '4080', '5436'], ['operating expenses', '2796', '2386', '2402'], ['pre-taxearnings', '$ 3785', '$ 1694', '$ 3034']]
operating environment .during 2017 , generally higher global equity prices and tighter credit spreads contributed to a favorable environment for our equity and debt investments .results also reflected net gains from company- specific events , including sales , and corporate performance .this environment contrasts with 2016 , where , in the first quarter of 2016 , market conditions were difficult and corporate performance , particularly in the energy sector , was impacted by a challenging macroeconomic environment .however , market conditions improved during the rest of 2016 as macroeconomic concerns moderated .if macroeconomic concerns negatively affect company-specific events or corporate performance , or if global equity markets decline or credit spreads widen , net revenues in investing & lending would likely be negatively impacted .2017 versus 2016 .net revenues in investing & lending were $ 6.58 billion for 2017 , 61% ( 61 % ) higher than 2016 .net revenues in equity securities were $ 4.58 billion , including $ 3.82 billion of net gains from private equities and $ 762 million in net gains from public equities .net revenues in equity securities were 78% ( 78 % ) higher than 2016 , primarily reflecting a significant increase in net gains from private equities , which were positively impacted by company- specific events and corporate performance .in addition , net gains from public equities were significantly higher , as global equity prices increased during the year .of the $ 4.58 billion of net revenues in equity securities , approximately 60% ( 60 % ) was driven by net gains from company-specific events , such as sales , and public equities .net revenues in debt securities and loans were $ 2.00 billion , 33% ( 33 % ) higher than 2016 , reflecting significantly higher net interest income ( 2017 included approximately $ 1.80 billion of net interest income ) .net revenues in debt securities and loans for 2017 also included an impairment of approximately $ 130 million on a secured operating expenses were $ 2.80 billion for 2017 , 17% ( 17 % ) higher than 2016 , due to increased compensation and benefits expenses , reflecting higher net revenues , increased expenses related to consolidated investments , and increased expenses related to marcus .pre-tax earnings were $ 3.79 billion in 2017 compared with $ 1.69 billion in 2016 .2016 versus 2015 .net revenues in investing & lending were $ 4.08 billion for 2016 , 25% ( 25 % ) lower than 2015 .net revenues in equity securities were $ 2.57 billion , including $ 2.17 billion of net gains from private equities and $ 402 million in net gains from public equities .net revenues in equity securities were 32% ( 32 % ) lower than 2015 , primarily reflecting a significant decrease in net gains from private equities , driven by company-specific events and corporate performance .net revenues in debt securities and loans were $ 1.51 billion , 9% ( 9 % ) lower than 2015 , reflecting significantly lower net revenues related to relationship lending activities , due to the impact of changes in credit spreads on economic hedges .losses related to these hedges were $ 596 million in 2016 , compared with gains of $ 329 million in 2015 .this decrease was partially offset by higher net gains from investments in debt instruments and higher net interest income .see note 9 to the consolidated financial statements for further information about economic hedges related to our relationship lending activities .operating expenses were $ 2.39 billion for 2016 , essentially unchanged compared with 2015 .pre-tax earnings were $ 1.69 billion in 2016 , 44% ( 44 % ) lower than 2015 .goldman sachs 2017 form 10-k 61 .
|
in millions for 2017 , 2016 , and 2015 , what was the minimum amount of equity securities?
|
2573
|
{
"answer": "2573",
"decimal": 2573,
"type": "float"
}
| |
notes to consolidated financial statements certain of aon 2019s european subsidiaries have a a650 million ( u.s .$ 942 million ) multi-currency revolving loan credit facility .this facility will mature in october 2010 , unless aon opts to extend the facility .commitment fees of 8.75 basis points are payable on the unused portion of the facility .at december 31 , 2007 , aon has borrowed a376 million and $ 250 million ( $ 795 million ) under this facility .at december 31 , 2006 , a307 million was borrowed .at december 31 , 2007 , $ 250 million of the euro facility is classified as short-term debt in the consolidated statements of financial position .aon has guaranteed the obligations of its subsidiaries with respect to this facility .aon maintains a $ 600 million , 5-year u.s .committed bank credit facility to support commercial paper and other short-term borrowings , which expires in february 2010 .this facility permits the issuance of up to $ 150 million in letters of credit .at december 31 , 2007 and 2006 , aon had $ 20 million in letters of credit outstanding .based on aon 2019s current credit ratings , commitment fees of 10 basis points are payable on the unused portion of the facility .for both the u.s .and euro facilities , aon is required to maintain consolidated net worth , as defined , of at least $ 2.5 billion , a ratio of consolidated ebitda ( earnings before interest , taxes , depreciation and amortization ) to consolidated interest expense of 4 to 1 and a ratio of consolidated debt to ebitda of not greater than 3 to 1 .aon also has other foreign facilities available , which include a a337.5 million ( $ 74 million ) facility , a a25 million ( $ 36 million ) facility , and a a20 million ( $ 29 million ) facility .outstanding debt securities , including aon capital a 2019s , are not redeemable by aon prior to maturity .there are no sinking fund provisions .interest is payable semi-annually on most debt securities .repayments of long-term debt are $ 548 million , $ 382 million and $ 225 million in 2010 , 2011 and 2012 , respectively .other information related to aon 2019s debt is as follows: .
[['years ended december 31', '2007', '2006', '2005'], ['interest paid ( millions )', '$ 147', '$ 130', '$ 130'], ['weighted-average interest rates 2014 short-term borrowings', '5.1% ( 5.1 % )', '4.4% ( 4.4 % )', '3.5% ( 3.5 % )']]
lease commitments aon has noncancelable operating leases for certain office space , equipment and automobiles .these leases expire at various dates and may contain renewal and expansion options .in addition to base rental costs , occupancy lease agreements generally provide for rent escalations resulting from increased assessments for real estate taxes and other charges .approximately 81% ( 81 % ) of aon 2019s lease obligations are for the use of office space .rental expense for operating leases amounted to $ 368 million , $ 350 million and $ 337 million for 2007 , 2006 and 2005 , respectively , after deducting rentals from subleases ( $ 40 million , $ 33 million and $ 29 million for 2007 , 2006 and 2005 , respectively ) .aon corporation .
|
what is the rent expense reported in the financial statement of 2007?
|
408
|
{
"answer": "408",
"decimal": 408,
"type": "float"
}
| |
( c ) includes the effects of items not considered in the assessment of the operating performance of our business segments which increased operating profit by $ 230 million , $ 150 million after tax ( $ 0.34 per share ) .also includes expenses of $ 16 million , $ 11 million after tax ( $ 0.03 per share ) for a debt exchange , and a reduction in income tax expense of $ 62 million ( $ 0.14 per share ) resulting from a tax benefit related to claims we filed for additional extraterritorial income exclusion ( eti ) tax benefits .on a combined basis , these items increased earnings by $ 201 million after tax ( $ 0.45 per share ) .( d ) includes the effects of items not considered in the assessment of the operating performance of our business segments which , on a combined basis , increased operating profit by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) .( e ) includes the effects of items not considered in the assessment of the operating performance of our business segments which decreased operating profit by $ 61 million , $ 54 million after tax ( $ 0.12 per share ) .also includes a charge of $ 154 million , $ 100 million after tax ( $ 0.22 per share ) for the early repayment of debt , and a reduction in income tax expense resulting from the closure of an internal revenue service examination of $ 144 million ( $ 0.32 per share ) .on a combined basis , these items reduced earnings by $ 10 million after tax ( $ 0.02 per share ) .( f ) includes the effects of items not considered in the assessment of the operating performance of our business segments which , on a combined basis , decreased operating profit by $ 7 million , $ 6 million after tax ( $ 0.01 per share ) .also includes a charge of $ 146 million , $ 96 million after tax ( $ 0.21 per share ) for the early repayment of debt .( g ) we define return on invested capital ( roic ) as net earnings plus after-tax interest expense divided by average invested capital ( stockholders 2019 equity plus debt ) , after adjusting stockholders 2019 equity by adding back adjustments related to postretirement benefit plans .we believe that reporting roic provides investors with greater visibility into how effectively we use the capital invested in our operations .we use roic to evaluate multi-year investment decisions and as a long-term performance measure , and also use it as a factor in evaluating management performance under certain of our incentive compensation plans .roic is not a measure of financial performance under generally accepted accounting principles , and may not be defined and calculated by other companies in the same manner .roic should not be considered in isolation or as an alternative to net earnings as an indicator of performance .we calculate roic as follows : ( in millions ) 2007 2006 2005 2004 2003 .
[['( in millions )', '2007', '2006', '2005', '2004', '2003'], ['net earnings', '$ 3033', '$ 2529', '$ 1825', '$ 1266', '$ 1053'], ['interest expense ( multiplied by 65% ( 65 % ) ) 1', '229', '235', '241', '276', '317'], ['return', '$ 3262', '$ 2764', '$ 2066', '$ 1542', '$ 1370'], ['average debt2 5', '$ 4416', '$ 4727', '$ 5077', '$ 5932', '$ 6612'], ['average equity3 5', '7661', '7686', '7590', '7015', '6170'], ['average benefit plan adjustments3 4 5', '3171', '2006', '1545', '1296', '1504'], ['average invested capital', '$ 15248', '$ 14419', '$ 14212', '$ 14243', '$ 14286'], ['return on invested capital', '21.4% ( 21.4 % )', '19.2% ( 19.2 % )', '14.5% ( 14.5 % )', '10.8% ( 10.8 % )', '9.6% ( 9.6 % )']]
1 represents after-tax interest expense utilizing the federal statutory rate of 35% ( 35 % ) .2 debt consists of long-term debt , including current maturities of long-term debt , and short-term borrowings ( if any ) .3 equity includes non-cash adjustments , primarily for unrecognized benefit plan actuarial losses and prior service costs in 2007 and 2006 , the adjustment for the adoption of fas 158 in 2006 , and the additional minimum pension liability in years prior to 2007 .4 average benefit plan adjustments reflect the cumulative value of entries identified in our statement of stockholders equity under the captions 201cpostretirement benefit plans , 201d 201cadjustment for adoption of fas 158 201d and 201cminimum pension liability . 201d the total of annual benefit plan adjustments to equity were : 2007 = $ 1706 million ; 2006 = ( $ 1883 ) million ; 2005 = ( $ 105 ) million ; 2004 = ( $ 285 ) million ; 2003 = $ 331 million ; 2002 = ( $ 1537 million ) ; and 2001 = ( $ 33 million ) .as these entries are recorded in the fourth quarter , the value added back to our average equity in a given year is the cumulative impact of all prior year entries plus 20% ( 20 % ) of the current year entry value .5 yearly averages are calculated using balances at the start of the year and at the end of each quarter. .
|
what was the percentage growth in net earnings from 2003 to 2004
|
20.2%
|
{
"answer": "20.2%",
"decimal": 0.20199999999999999,
"type": "percentage"
}
| |
future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending december 31 , 2015 , and thereafter in the aggregate , are as follows ( in millions ) : .
[['2011', '$ 65.1'], ['2012', '47.6'], ['2013', '35.7'], ['2014', '27.8'], ['2015', '24.3'], ['thereafter', '78.1'], ['total', '$ 278.6']]
in addition , the company has operating lease commitments relating to office equipment and computer hardware with annual lease payments of approximately $ 16.3 million per year which renew on a short-term basis .rent expense incurred under all operating leases during the years ended december 31 , 2010 , 2009 and 2008 was $ 116.1 million , $ 100.2 million and $ 117.0 million , respectively .included in discontinued operations in the consolidated statements of earnings was rent expense of $ 2.0 million , $ 1.8 million and $ 17.0 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively .data processing and maintenance services agreements .the company has agreements with various vendors , which expire between 2011 and 2017 , for portions of its computer data processing operations and related functions .the company 2019s estimated aggregate contractual obligation remaining under these agreements was approximately $ 554.3 million as of december 31 , 2010 .however , this amount could be more or less depending on various factors such as the inflation rate , foreign exchange rates , the introduction of significant new technologies , or changes in the company 2019s data processing needs .( 16 ) employee benefit plans stock purchase plan fis employees participate in an employee stock purchase plan ( espp ) .eligible employees may voluntarily purchase , at current market prices , shares of fis 2019 common stock through payroll deductions .pursuant to the espp , employees may contribute an amount between 3% ( 3 % ) and 15% ( 15 % ) of their base salary and certain commissions .shares purchased are allocated to employees based upon their contributions .the company contributes varying matching amounts as specified in the espp .the company recorded an expense of $ 14.3 million , $ 12.4 million and $ 14.3 million , respectively , for the years ended december 31 , 2010 , 2009 and 2008 , relating to the participation of fis employees in the espp .included in discontinued operations in the consolidated statements of earnings was expense of $ 0.1 million and $ 3.0 million for the years ended december 31 , 2009 and 2008 , respectively .401 ( k ) profit sharing plan the company 2019s employees are covered by a qualified 401 ( k ) plan .eligible employees may contribute up to 40% ( 40 % ) of their pretax annual compensation , up to the amount allowed pursuant to the internal revenue code .the company generally matches 50% ( 50 % ) of each dollar of employee contribution up to 6% ( 6 % ) of the employee 2019s total eligible compensation .the company recorded expense of $ 23.1 million , $ 16.6 million and $ 18.5 million , respectively , for the years ended december 31 , 2010 , 2009 and 2008 , relating to the participation of fis employees in the 401 ( k ) plan .included in discontinued operations in the consolidated statements of earnings was expense of $ 0.1 million and $ 3.9 million for the years ended december 31 , 2009 and 2008 , respectively .fidelity national information services , inc .and subsidiaries notes to consolidated financial statements 2014 ( continued ) %%transmsg*** transmitting job : g26369 pcn : 083000000 ***%%pcmsg|83 |00006|yes|no|03/28/2011 17:32|0|0|page is valid , no graphics -- color : n| .
|
what percentage of future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending december 31 , 2015 , and thereafter are due in 2012?
|
17%
|
{
"answer": "17%",
"decimal": 0.17,
"type": "percentage"
}
| |
westrock company notes to consolidated financial statements 2014 ( continued ) consistent with prior years , we consider a portion of our earnings from certain foreign subsidiaries as subject to repatriation and we provide for taxes accordingly .however , we consider the unremitted earnings and all other outside basis differences from all other foreign subsidiaries to be indefinitely reinvested .accordingly , we have not provided for any taxes that would be due .as of september 30 , 2019 , we estimate our outside basis difference in foreign subsidiaries that are considered indefinitely reinvested to be approximately $ 1.6 billion .the components of the outside basis difference are comprised of purchase accounting adjustments , undistributed earnings , and equity components .except for the portion of our earnings from certain foreign subsidiaries where we provided for taxes , we have not provided for any taxes that would be due upon the reversal of the outside basis differences .however , in the event of a distribution in the form of dividends or dispositions of the subsidiaries , we may be subject to incremental u.s .income taxes , subject to an adjustment for foreign tax credits , and withholding taxes or income taxes payable to the foreign jurisdictions .as of september 30 , 2019 , the determination of the amount of unrecognized deferred tax liability related to any remaining undistributed foreign earnings not subject to the transition tax and additional outside basis differences is not practicable .a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in millions ) : .
[['', '2019', '2018', '2017'], ['balance at beginning of fiscal year', '$ 127.1', '$ 148.9', '$ 166.8'], ['additions related to purchase accounting ( 1 )', '1.0', '3.4', '7.7'], ['additions for tax positions taken in current year ( 2 )', '103.8', '3.1', '5.0'], ['additions for tax positions taken in prior fiscal years', '1.8', '18.0', '15.2'], ['reductions for tax positions taken in prior fiscal years', '( 0.5 )', '( 5.3 )', '( 25.6 )'], ['reductions due to settlement ( 3 )', '( 4.0 )', '( 29.4 )', '( 14.1 )'], ['( reductions ) additions for currency translation adjustments', '-1.7 ( 1.7 )', '-9.6 ( 9.6 )', '2.0'], ['reductions as a result of a lapse of the applicable statute oflimitations', '( 3.2 )', '( 2.0 )', '( 8.1 )'], ['balance at end of fiscal year', '$ 224.3', '$ 127.1', '$ 148.9']]
( 1 ) amounts in fiscal 2019 relate to the kapstone acquisition .amounts in fiscal 2018 and 2017 relate to the mps acquisition .( 2 ) additions for tax positions taken in current fiscal year includes primarily positions taken related to foreign subsidiaries .( 3 ) amounts in fiscal 2019 relate to the settlements of state and foreign audit examinations .amounts in fiscal 2018 relate to the settlement of state audit examinations and federal and state amended returns filed related to affirmative adjustments for which there was a reserve .amounts in fiscal 2017 relate to the settlement of federal and state audit examinations with taxing authorities .as of september 30 , 2019 and 2018 , the total amount of unrecognized tax benefits was approximately $ 224.3 million and $ 127.1 million , respectively , exclusive of interest and penalties .of these balances , as of september 30 , 2019 and 2018 , if we were to prevail on all unrecognized tax benefits recorded , approximately $ 207.5 million and $ 108.7 million , respectively , would benefit the effective tax rate .we regularly evaluate , assess and adjust the related liabilities in light of changing facts and circumstances , which could cause the effective tax rate to fluctuate from period to period .resolution of the uncertain tax positions could have a material adverse effect on our cash flows or materially benefit our results of operations in future periods depending upon their ultimate resolution .see 201cnote 18 .commitments and contingencies 2014 brazil tax liability 201d we recognize estimated interest and penalties related to unrecognized tax benefits in income tax expense in the consolidated statements of income .as of september 30 , 2019 , we had liabilities of $ 80.0 million related to estimated interest and penalties for unrecognized tax benefits .as of september 30 , 2018 , we had liabilities of $ 70.4 million , related to estimated interest and penalties for unrecognized tax benefits .our results of operations for the fiscal year ended september 30 , 2019 , 2018 and 2017 include expense of $ 9.7 million , $ 5.8 million and $ 7.4 million , respectively , net of indirect benefits , related to estimated interest and penalties with respect to the liability for unrecognized tax benefits .as of september 30 , 2019 , it is reasonably possible that our unrecognized tax benefits will decrease by up to $ 8.7 million in the next twelve months due to expiration of various statues of limitations and settlement of issues. .
|
in 2019 , what percent of the total balance did tax positions taken in the current year amount to?
|
46.28%
|
{
"answer": "46.28%",
"decimal": 0.4628,
"type": "percentage"
}
| |
management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) financing activities net cash used in financing activities during 2015 primarily related to the repurchase of our common stock and payment of dividends .we repurchased 13.6 shares of our common stock for an aggregate cost of $ 285.2 , including fees , and made dividend payments of $ 195.5 on our common stock .net cash used in financing activities during 2014 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends .we redeemed all $ 350.0 in aggregate principal amount of our 6.25% ( 6.25 % ) notes , repurchased 14.9 shares of our common stock for an aggregate cost of $ 275.1 , including fees , and made dividend payments of $ 159.0 on our common stock .this was offset by the issuance of $ 500.0 in aggregate principal amount of our 4.20% ( 4.20 % ) notes .foreign exchange rate changes the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 156.1 in 2015 .the decrease was primarily a result of the u.s .dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , canadian dollar , euro and south african rand as of december 31 , 2015 compared to december 31 , 2014 .the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 101.0 in 2014 .the decrease was primarily a result of the u.s .dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , canadian dollar and euro as of december 31 , 2014 compared to december 31 , 2013. .
[['balance sheet data', 'december 31 , 2015', 'december 31 , 2014'], ['cash cash equivalents and marketable securities', '$ 1509.7', '$ 1667.2'], ['short-term borrowings', '$ 150.1', '$ 107.2'], ['current portion of long-term debt', '1.9', '2.1'], ['long-term debt', '1610.3', '1612.9'], ['total debt', '$ 1762.3', '$ 1722.2']]
liquidity outlook we expect our cash flow from operations , cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months .we also have a committed corporate credit facility as well as uncommitted facilities available to support our operating needs .we continue to maintain a disciplined approach to managing liquidity , with flexibility over significant uses of cash , including our capital expenditures , cash used for new acquisitions , our common stock repurchase program and our common stock dividends .from time to time , we evaluate market conditions and financing alternatives for opportunities to raise additional funds or otherwise improve our liquidity profile , enhance our financial flexibility and manage market risk .our ability to access the capital markets depends on a number of factors , which include those specific to us , such as our credit rating , and those related to the financial markets , such as the amount or terms of available credit .there can be no guarantee that we would be able to access new sources of liquidity on commercially reasonable terms , or at all .funding requirements our most significant funding requirements include our operations , non-cancelable operating lease obligations , capital expenditures , acquisitions , common stock dividends , taxes , debt service and contributions to pension and postretirement plans .additionally , we may be required to make payments to minority shareholders in certain subsidiaries if they exercise their options to sell us their equity interests. .
|
if all the balance of cash cash equivalents and marketable securities was used to repay debt , what would be the net debt at the end of 2015?
|
252.6
|
{
"answer": "252.6",
"decimal": 252.6,
"type": "float"
}
| |
the following table sets forth information concerning increases in the total number of our aap stores during the past five years : beginning stores new stores ( 1 ) stores closed ending stores ( 1 ) does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores .our store-based information systems , which are designed to improve the efficiency of our operations and enhance customer service , are comprised of a proprietary pos system and electronic parts catalog , or epc , system .information maintained by our pos system is used to formulate pricing , marketing and merchandising strategies and to replenish inventory accurately and rapidly .our pos system is fully integrated with our epc system and enables our store team members to assist our customers in their parts selection and ordering based on the year , make , model and engine type of their vehicles .our centrally-based epc data management system enables us to reduce the time needed to ( i ) exchange data with our vendors and ( ii ) catalog and deliver updated , accurate parts information .our epc system also contains enhanced search engines and user-friendly navigation tools that enhance our team members' ability to look up any needed parts as well as additional products the customer needs to complete an automotive repair project .if a hard-to-find part or accessory is not available at one of our stores , the epc system can determine whether the part is carried and in-stock through our hub or pdq ae networks or can be ordered directly from one of our vendors .available parts and accessories are then ordered electronically from another store , hub , pdq ae or directly from the vendor with immediate confirmation of price , availability and estimated delivery time .we also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities .our store-level inventory management system provides real-time inventory tracking at the store level .with the store-level system , store team members can check the quantity of on-hand inventory for any sku , adjust stock levels for select items for store specific events , automatically process returns and defective merchandise , designate skus for cycle counts and track merchandise transfers .our stores use radio frequency hand-held devices to help ensure the accuracy of our inventory .our standard operating procedure , or sop , system is a web-based , electronic data management system that provides our team members with instant access to any of our standard operating procedures through a comprehensive on-line search function .all of these systems are tightly integrated and provide real-time , comprehensive information to store personnel , resulting in improved customer service levels , team member productivity and in-stock availability .purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations : 2022 store support center in roanoke , virginia ; 2022 regional office in minneapolis , minnesota ; and 2022 global sourcing office in taipei , taiwan .our roanoke team is primarily responsible for the parts categories and our minnesota team is primarily responsible for accessories , oil and chemicals .our global sourcing team works closely with both teams .in fiscal 2011 , we purchased merchandise from approximately 500 vendors , with no single vendor accounting for more than 9% ( 9 % ) of purchases .our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms , including pricing , payment terms and volume .the merchandising team has developed strong vendor relationships in the industry and , in a collaborative effort with our vendor partners , utilizes a category management process where we manage the mix of our product offerings to meet customer demand .we believe this process , which develops a customer-focused business plan for each merchandise category , and our global sourcing operation are critical to improving comparable store sales , gross margin and inventory productivity. .
[['', '2011', '2010', '2009', '2008', '2007'], ['beginning stores', '3369', '3264', '3243', '3153', '2995'], ['new stores ( 1 )', '95', '110', '75', '109', '175'], ['stores closed', '-4 ( 4 )', '-5 ( 5 )', '-54 ( 54 )', '-19 ( 19 )', '-17 ( 17 )'], ['ending stores', '3460', '3369', '3264', '3243', '3153']]
the following table sets forth information concerning increases in the total number of our aap stores during the past five years : beginning stores new stores ( 1 ) stores closed ending stores ( 1 ) does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores .our store-based information systems , which are designed to improve the efficiency of our operations and enhance customer service , are comprised of a proprietary pos system and electronic parts catalog , or epc , system .information maintained by our pos system is used to formulate pricing , marketing and merchandising strategies and to replenish inventory accurately and rapidly .our pos system is fully integrated with our epc system and enables our store team members to assist our customers in their parts selection and ordering based on the year , make , model and engine type of their vehicles .our centrally-based epc data management system enables us to reduce the time needed to ( i ) exchange data with our vendors and ( ii ) catalog and deliver updated , accurate parts information .our epc system also contains enhanced search engines and user-friendly navigation tools that enhance our team members' ability to look up any needed parts as well as additional products the customer needs to complete an automotive repair project .if a hard-to-find part or accessory is not available at one of our stores , the epc system can determine whether the part is carried and in-stock through our hub or pdq ae networks or can be ordered directly from one of our vendors .available parts and accessories are then ordered electronically from another store , hub , pdq ae or directly from the vendor with immediate confirmation of price , availability and estimated delivery time .we also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities .our store-level inventory management system provides real-time inventory tracking at the store level .with the store-level system , store team members can check the quantity of on-hand inventory for any sku , adjust stock levels for select items for store specific events , automatically process returns and defective merchandise , designate skus for cycle counts and track merchandise transfers .our stores use radio frequency hand-held devices to help ensure the accuracy of our inventory .our standard operating procedure , or sop , system is a web-based , electronic data management system that provides our team members with instant access to any of our standard operating procedures through a comprehensive on-line search function .all of these systems are tightly integrated and provide real-time , comprehensive information to store personnel , resulting in improved customer service levels , team member productivity and in-stock availability .purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations : 2022 store support center in roanoke , virginia ; 2022 regional office in minneapolis , minnesota ; and 2022 global sourcing office in taipei , taiwan .our roanoke team is primarily responsible for the parts categories and our minnesota team is primarily responsible for accessories , oil and chemicals .our global sourcing team works closely with both teams .in fiscal 2011 , we purchased merchandise from approximately 500 vendors , with no single vendor accounting for more than 9% ( 9 % ) of purchases .our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms , including pricing , payment terms and volume .the merchandising team has developed strong vendor relationships in the industry and , in a collaborative effort with our vendor partners , utilizes a category management process where we manage the mix of our product offerings to meet customer demand .we believe this process , which develops a customer-focused business plan for each merchandise category , and our global sourcing operation are critical to improving comparable store sales , gross margin and inventory productivity. .
|
what is the net number of stores that opened during 2011?
|
91
|
{
"answer": "91",
"decimal": 91,
"type": "float"
}
| |
act of 1933 , as amended , and section 1145 of the united states code .no underwriters were engaged in connection with such issuances .during the three months ended december 31 , 2008 , we issued an aggregate of 7173456 shares of our common stock upon conversion of $ 147.1 million principal amount of our 3.00% ( 3.00 % ) notes .pursuant to the terms of the indenture , holders of the 3.00% ( 3.00 % ) notes receive 48.7805 shares of our common stock for every $ 1000 principal amount of notes converted .in connection with the conversions , we paid such holders an aggregate of approximately $ 3.7 million , calculated based on the accrued and unpaid interest on the notes and the discounted value of the future interest payments on the notes .all shares were issued in reliance on the exemption from registration set forth in section 3 ( a ) ( 9 ) of the securities act of 1933 , as amended .no underwriters were engaged in connection with such issuances .issuer purchases of equity securities during the three months ended december 31 , 2008 , we repurchased 2784221 shares of our common stock for an aggregate of $ 79.4 million , including commissions and fees , pursuant to our publicly announced stock repurchase program , as follows : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .
[['period', 'total number of shares purchased ( 1 )', 'average price paid per share', 'total number of shares purchased as part of publicly announced plans or programs', 'approximate dollar value of shares that may yet be purchased under the plans orprograms ( in millions )'], ['october 2008', '1379180', '$ 30.51', '1379180', '$ 1005.3'], ['november 2008', '1315800', '$ 26.51', '1315800', '$ 970.4'], ['december 2008', '89241', '$ 27.32', '89241', '$ 967.9'], ['total fourth quarter', '2784221', '$ 28.53', '2784221', '$ 967.9']]
( 1 ) repurchases made pursuant to the $ 1.5 billion stock repurchase program approved by our board of directors in february 2008 .under this program , our management is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors .to facilitate repurchases , we make purchases pursuant to a trading plan under rule 10b5-1 of the exchange act , which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods .this program may be discontinued at any time .as reflected in the above table , in the fourth quarter of 2008 , we significantly reduced purchases of common stock under our stock repurchase program based on the downturn in the economy and the disruptions in the financial and credit markets .subsequent to december 31 , 2008 , we repurchased approximately 28000 shares of our common stock for an aggregate of $ 0.8 million , including commissions and fees , pursuant to this program .we expect to continue to manage the pacing of the program in the future in response to general market conditions and other relevant factors. .
|
what is the total cash used for stock repurchase during the fourth quarter of 2008 , in millions?
|
79.4
|
{
"answer": "79.4",
"decimal": 79.4,
"type": "float"
}
| |
part ii item 5 : market for registrant's common equity , related stockholder matters and issuer purchases of equity securities motorola's common stock is listed on the new york and chicago stock exchanges .the number of stockholders of record of motorola common stock on january 31 , 2006 was 80799 .the remainder of the response to this item incorporates by reference note 15 , ""quarterly and other financial data ( unaudited ) '' of the notes to consolidated financial statements appearing under ""item 8 : financial statements and supplementary data'' .the following table provides information with respect to acquisitions by the company of shares of its common stock during the quarter ended december 31 , 2005 .issuer purchases of equity securities ( d ) maximum number ( c ) total number ( or approximate dollar of shares purchased value ) of shares that ( a ) total number ( b ) average price as part of publicly may yet be purchased of shares paid per announced plans under the plans or period purchased ( 2 ) share ( 2 ) ( 3 ) or programs ( 1 ) programs ( 1 ) .
[['period', '( a ) total number of shares purchased ( 2 )', '( b ) average price paid per share ( 2 ) ( 3 )', '( c ) total number of shares purchased as part of publicly announced plans or programs ( 1 )', '( d ) maximum number ( or approximate dollar value ) of shares that may yet be purchased under the plans or programs ( 1 )'], ['10/2/05 to 10/29/05', '5506400', '$ 21.16', '5506400', '$ 3367111278'], ['10/30/05 to 11/26/05', '4968768', '$ 22.59', '4947700', '$ 3257373024'], ['11/27/05 to 12/31/05', '5824970', '$ 23.26', '5503500', '$ 3128512934'], ['total', '16300138', '$ 22.26', '15957600', '']]
( 1 ) on may 18 , 2005 , the company announced that its board of directors authorized the company to repurchase up to $ 4.0 billion of its outstanding shares of common stock over a 36-month period ending on may 31 , 2008 , subject to market conditions ( the ""stock repurchase program'' ) .( 2 ) in addition to purchases under the stock repurchase program , included in this column are transactions under the company's equity compensation plans involving the delivery to the company of 342415 shares of motorola common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock granted to company employees and the surrender of 123 shares of motorola common stock to pay the option exercise price in connection with the exercise of employee stock options .( 3 ) average price paid per share of stock repurchased under the stock repurchase program is execution price , excluding commissions paid to brokers. .
|
in 2005 what was the percent of the total number of shares purchased as part of publicly announced plans or programs on or after 11/25/2005
|
34.5%
|
{
"answer": "34.5%",
"decimal": 0.345,
"type": "percentage"
}
| |
z i m m e r h o l d i n g s , i n c .a n d s u b s i d i a r i e s 2 0 0 2 f o r m 1 0 - k notes to consolidated financial statements ( continued ) rating as of december 31 , 2002 met such requirement .fair value commitments under the credit facility are subject to certain the carrying value of the company 2019s borrowings approxi- fees , including a facility and a utilization fee .mates fair value due to their short-term maturities and uncommitted credit facilities variable interest rates .the company has a $ 26 million uncommitted unsecured 8 .derivative financial instruments revolving line of credit .the purpose of this credit line is to support the working capital needs , letters of credit and the company is exposed to market risk due to changes overdraft needs for the company .the uncommitted credit in currency exchange rates .as a result , the company utilizes agreement contains customary affirmative and negative cove- foreign exchange forward contracts to offset the effect of nants and events of default , none of which are considered exchange rate fluctuations on anticipated foreign currency restrictive to the operation of the business .in addition , this transactions , primarily intercompany sales and purchases uncommitted credit agreement provides for unconditional expected to occur within the next twelve to twenty-four and irrevocable guarantees by the company .in the event the months .the company does not hold financial instruments company 2019s long-term debt ratings by both standard and for trading or speculative purposes .for derivatives which poor 2019s ratings services and moody 2019s investor 2019s service , inc. , qualify as hedges of future cash flows , the effective portion fall below bb- and ba3 , then the company may be required of changes in fair value is temporarily recorded in other to repay all outstanding and contingent obligations .the comprehensive income , then recognized in earnings when company 2019s credit rating as of december 31 , 2002 met such the hedged item affects earnings .the ineffective portion of requirement .this uncommitted credit line matures on a derivative 2019s change in fair value , if any , is reported in july 31 , 2003 .outstanding borrowings under this uncommit- earnings .the net amount recognized in earnings during the ted line of credit as of december 31 , 2002 were $ 0.5 million years ended december 31 , 2002 and 2001 , due to ineffective- with a weighted average interest rate of 6.35 percent .ness and amounts excluded from the assessment of hedge the company also has a $ 15 million uncommitted effectiveness , was not significant .revolving unsecured line of credit .the purpose of this line of the notional amounts of outstanding foreign exchange credit is to support short-term working capital needs of the forward contracts , principally japanese yen and the euro , company .the agreement for this uncommitted unsecured entered into with third parties , at december 31 , 2002 , was line of credit contains customary covenants , none of which $ 252 million .the fair value of derivative instruments recorded are considered restrictive to the operation of the business .in accrued liabilities at december 31 , 2002 , was $ 13.8 million , this uncommitted line matures on july 31 , 2003 .there were or $ 8.5 million net of taxes , which is deferred in other no borrowings under this uncommitted line of credit as of comprehensive income and is expected to be reclassified to december 31 , 2002 .earnings over the next two years , of which , $ 7.7 million , or the company has a $ 20 million uncommitted revolving $ 4.8 million , net of taxes , is expected to be reclassified to unsecured line of credit .the purpose of this line of credit is earnings over the next twelve months .to support short-term working capital needs of the company .the pricing is based upon money market rates .the agree- 9 .capital stock and earnings per share ment for this uncommitted unsecured line of credit contains as discussed in note 14 , all of the shares of company customary covenants , none of which are considered restrictive common stock were distributed at the distribution by the to the operation of the business .this uncommitted line former parent to its stockholders in the form of a dividend matures on july 31 , 2003 .there were no borrowings under of one share of company common stock , and the associated this uncommitted line of credit as of december 31 , 2002 .preferred stock purchase right , for every ten shares of the company was in compliance with all covenants common stock of the former parent .in july 2001 the board under all three of the uncommitted credit facilities as of of directors of the company adopted a rights agreement december 31 , 2002 .the company had no long-term debt intended to have anti-takeover effects .under this agreement as of december 31 , 2002 .one right attaches to each share of company common stock .outstanding debt as of december 31 , 2002 and 2001 , the rights will not become exercisable until the earlier of : consist of the following ( in millions ) : a ) the company learns that a person or group acquired , or 2002 2001 obtained the right to acquire , beneficial ownership of securi- credit facility $ 156.2 $ 358.2 ties representing more than 20 percent of the shares of uncommitted credit facilities 0.5 5.7 company common stock then outstanding , or b ) such date , if any , as may be designated by the board of directorstotal debt $ 156.7 $ 363.9 following the commencement of , or first public disclosure of the company paid $ 13.0 million and $ 4.6 million in an intention to commence , a tender offer or exchange offer interest charges during 2002 and 2001 , respectively. .
[['', '2002', '2001'], ['credit facility', '$ 156.2', '$ 358.2'], ['uncommitted credit facilities', '0.5', '5.7'], ['total debt', '$ 156.7', '$ 363.9']]
z i m m e r h o l d i n g s , i n c .a n d s u b s i d i a r i e s 2 0 0 2 f o r m 1 0 - k notes to consolidated financial statements ( continued ) rating as of december 31 , 2002 met such requirement .fair value commitments under the credit facility are subject to certain the carrying value of the company 2019s borrowings approxi- fees , including a facility and a utilization fee .mates fair value due to their short-term maturities and uncommitted credit facilities variable interest rates .the company has a $ 26 million uncommitted unsecured 8 .derivative financial instruments revolving line of credit .the purpose of this credit line is to support the working capital needs , letters of credit and the company is exposed to market risk due to changes overdraft needs for the company .the uncommitted credit in currency exchange rates .as a result , the company utilizes agreement contains customary affirmative and negative cove- foreign exchange forward contracts to offset the effect of nants and events of default , none of which are considered exchange rate fluctuations on anticipated foreign currency restrictive to the operation of the business .in addition , this transactions , primarily intercompany sales and purchases uncommitted credit agreement provides for unconditional expected to occur within the next twelve to twenty-four and irrevocable guarantees by the company .in the event the months .the company does not hold financial instruments company 2019s long-term debt ratings by both standard and for trading or speculative purposes .for derivatives which poor 2019s ratings services and moody 2019s investor 2019s service , inc. , qualify as hedges of future cash flows , the effective portion fall below bb- and ba3 , then the company may be required of changes in fair value is temporarily recorded in other to repay all outstanding and contingent obligations .the comprehensive income , then recognized in earnings when company 2019s credit rating as of december 31 , 2002 met such the hedged item affects earnings .the ineffective portion of requirement .this uncommitted credit line matures on a derivative 2019s change in fair value , if any , is reported in july 31 , 2003 .outstanding borrowings under this uncommit- earnings .the net amount recognized in earnings during the ted line of credit as of december 31 , 2002 were $ 0.5 million years ended december 31 , 2002 and 2001 , due to ineffective- with a weighted average interest rate of 6.35 percent .ness and amounts excluded from the assessment of hedge the company also has a $ 15 million uncommitted effectiveness , was not significant .revolving unsecured line of credit .the purpose of this line of the notional amounts of outstanding foreign exchange credit is to support short-term working capital needs of the forward contracts , principally japanese yen and the euro , company .the agreement for this uncommitted unsecured entered into with third parties , at december 31 , 2002 , was line of credit contains customary covenants , none of which $ 252 million .the fair value of derivative instruments recorded are considered restrictive to the operation of the business .in accrued liabilities at december 31 , 2002 , was $ 13.8 million , this uncommitted line matures on july 31 , 2003 .there were or $ 8.5 million net of taxes , which is deferred in other no borrowings under this uncommitted line of credit as of comprehensive income and is expected to be reclassified to december 31 , 2002 .earnings over the next two years , of which , $ 7.7 million , or the company has a $ 20 million uncommitted revolving $ 4.8 million , net of taxes , is expected to be reclassified to unsecured line of credit .the purpose of this line of credit is earnings over the next twelve months .to support short-term working capital needs of the company .the pricing is based upon money market rates .the agree- 9 .capital stock and earnings per share ment for this uncommitted unsecured line of credit contains as discussed in note 14 , all of the shares of company customary covenants , none of which are considered restrictive common stock were distributed at the distribution by the to the operation of the business .this uncommitted line former parent to its stockholders in the form of a dividend matures on july 31 , 2003 .there were no borrowings under of one share of company common stock , and the associated this uncommitted line of credit as of december 31 , 2002 .preferred stock purchase right , for every ten shares of the company was in compliance with all covenants common stock of the former parent .in july 2001 the board under all three of the uncommitted credit facilities as of of directors of the company adopted a rights agreement december 31 , 2002 .the company had no long-term debt intended to have anti-takeover effects .under this agreement as of december 31 , 2002 .one right attaches to each share of company common stock .outstanding debt as of december 31 , 2002 and 2001 , the rights will not become exercisable until the earlier of : consist of the following ( in millions ) : a ) the company learns that a person or group acquired , or 2002 2001 obtained the right to acquire , beneficial ownership of securi- credit facility $ 156.2 $ 358.2 ties representing more than 20 percent of the shares of uncommitted credit facilities 0.5 5.7 company common stock then outstanding , or b ) such date , if any , as may be designated by the board of directorstotal debt $ 156.7 $ 363.9 following the commencement of , or first public disclosure of the company paid $ 13.0 million and $ 4.6 million in an intention to commence , a tender offer or exchange offer interest charges during 2002 and 2001 , respectively. .
|
what was the percentage change of total debt from 2001 to 2002?
|
-57%
|
{
"answer": "-57%",
"decimal": -0.57,
"type": "percentage"
}
| |
valuation techniques 2013 cash equivalents are mostly comprised of short-term money-market instruments and are valued at cost , which approximates fair value .u.s .equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .for u.s .equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker or investment manager .these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager .commingled equity funds categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .for commingled equity funds not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker or investment manager .these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor .fixed income investments categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g. , interest rates and yield curves observable at commonly quoted intervals and credit spreads ) , bids provided by brokers or dealers or quoted prices of securities with similar characteristics .fixed income investments are categorized as level 3 when valuations using observable inputs are unavailable .the trustee typically obtains pricing based on indicative quotes or bid evaluations from vendors , brokers or the investment manager .in addition , certain other fixed income investments categorized as level 3 are valued using a discounted cash flow approach .significant inputs include projected annuity payments and the discount rate applied to those payments .certain commingled equity funds , consisting of equity mutual funds , are valued using the nav .the nav valuations are based on the underlying investments and typically redeemable within 90 days .private equity funds consist of partnership and co-investment funds .the nav is based on valuation models of the underlying securities , which includes unobservable inputs that cannot be corroborated using verifiable observable market data .these funds typically have redemption periods between eight and 12 years .real estate funds consist of partnerships , most of which are closed-end funds , for which the nav is based on valuation models and periodic appraisals .these funds typically have redemption periods between eight and 10 years .hedge funds consist of direct hedge funds for which the nav is generally based on the valuation of the underlying investments .redemptions in hedge funds are based on the specific terms of each fund , and generally range from a minimum of one month to several months .contributions and expected benefit payments the funding of our qualified defined benefit pension plans is determined in accordance with erisa , as amended by the ppa , and in a manner consistent with cas and internal revenue code rules .we made contributions of $ 5.0 billion to our qualified defined benefit pension plans in 2018 , including required and discretionary contributions .as a result of these contributions , we do not expect to make contributions to our qualified defined benefit pension plans in 2019 .the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2018 ( in millions ) : .
[['', '2019', '2020', '2021', '2022', '2023', '2024 2013 2028'], ['qualified defined benefit pension plans', '$ 2350', '$ 2390', '$ 2470', '$ 2550', '$ 2610', '$ 13670'], ['retiree medical and life insurance plans', '170', '180', '180', '180', '170', '810']]
defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees .under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents .our contributions were $ 658 million in 2018 , $ 613 million in 2017 and $ 617 million in 2016 , the majority of which were funded using our common stock .our defined contribution plans held approximately 33.3 million and 35.5 million shares of our common stock as of december 31 , 2018 and 2017. .
|
what is the percentage change in 401 ( k ) contributions from 2016 to 2017?
|
-0.6%
|
{
"answer": "-0.6%",
"decimal": -0.006,
"type": "percentage"
}
| |
zimmer holdings , inc .2013 form 10-k annual report notes to consolidated financial statements ( continued ) unrealized gains and losses on cash flow hedges , unrealized gains and losses on available-for-sale securities and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions .treasury stock 2013 we account for repurchases of common stock under the cost method and present treasury stock as a reduction of stockholders 2019 equity .we reissue common stock held in treasury only for limited purposes .noncontrolling interest 2013 in 2011 , we made an investment in a company in which we acquired a controlling financial interest , but not 100 percent of the equity .in 2013 , we purchased additional shares of the company from the minority shareholders .further information related to the noncontrolling interests of that investment has not been provided as it is not significant to our consolidated financial statements .accounting pronouncements 2013 effective january 1 , 2013 , we adopted the fasb 2019s accounting standard updates ( asus ) requiring reporting of amounts reclassified out of accumulated other comprehensive income ( oci ) and balance sheet offsetting between derivative assets and liabilities .these asus only change financial statement disclosure requirements and therefore do not impact our financial position , results of operations or cash flows .see note 12 for disclosures relating to oci .see note 13 for disclosures relating to balance sheet offsetting .there are no other recently issued accounting pronouncements that we have not yet adopted that are expected to have a material effect on our financial position , results of operations or cash flows .3 .share-based compensation our share-based payments primarily consist of stock options , restricted stock , restricted stock units ( rsus ) , and an employee stock purchase plan .share-based compensation expense is as follows ( in millions ) : .
[['for the years ended december 31,', '2013', '2012', '2011'], ['stock options', '$ 24.7', '$ 32.4', '$ 41.7'], ['rsus and other', '23.8', '22.6', '18.8'], ['total expense pre-tax', '48.5', '55.0', '60.5'], ['tax benefit related to awards', '-15.6 ( 15.6 )', '-16.6 ( 16.6 )', '-17.8 ( 17.8 )'], ['total expense net of tax', '$ 32.9', '$ 38.4', '$ 42.7']]
share-based compensation cost capitalized as part of inventory for the years ended december 31 , 2013 , 2012 and 2011 was $ 4.1 million , $ 6.1 million , and $ 8.8 million , respectively .as of december 31 , 2013 and 2012 , approximately $ 2.4 million and $ 3.3 million of capitalized costs remained in finished goods inventory .stock options we had two equity compensation plans in effect at december 31 , 2013 : the 2009 stock incentive plan ( 2009 plan ) and the stock plan for non-employee directors .the 2009 plan succeeded the 2006 stock incentive plan ( 2006 plan ) and the teamshare stock option plan ( teamshare plan ) .no further awards have been granted under the 2006 plan or under the teamshare plan since may 2009 , and shares remaining available for grant under those plans have been merged into the 2009 plan .vested and unvested stock options and unvested restricted stock and rsus previously granted under the 2006 plan , the teamshare plan and another prior plan , the 2001 stock incentive plan , remained outstanding as of december 31 , 2013 .we have reserved the maximum number of shares of common stock available for award under the terms of each of these plans .we have registered 57.9 million shares of common stock under these plans .the 2009 plan provides for the grant of nonqualified stock options and incentive stock options , long-term performance awards in the form of performance shares or units , restricted stock , rsus and stock appreciation rights .the compensation and management development committee of the board of directors determines the grant date for annual grants under our equity compensation plans .the date for annual grants under the 2009 plan to our executive officers is expected to occur in the first quarter of each year following the earnings announcements for the previous quarter and full year .the stock plan for non-employee directors provides for awards of stock options , restricted stock and rsus to non-employee directors .it has been our practice to issue shares of common stock upon exercise of stock options from previously unissued shares , except in limited circumstances where they are issued from treasury stock .the total number of awards which may be granted in a given year and/or over the life of the plan under each of our equity compensation plans is limited .at december 31 , 2013 , an aggregate of 10.4 million shares were available for future grants and awards under these plans .stock options granted to date under our plans generally vest over four years and generally have a maximum contractual life of 10 years .as established under our equity compensation plans , vesting may accelerate upon retirement after the first anniversary date of the award if certain criteria are met .we recognize expense related to stock options on a straight-line basis over the requisite service period , less awards expected to be forfeited using estimated forfeiture rates .due to the accelerated retirement provisions , the requisite service period of our stock options range from one to four years .stock options are granted with an exercise price equal to the market price of our common stock on the date of grant , except in limited circumstances where local law may dictate otherwise. .
|
what was the percentage change in share-based compensation expense between 2012 and 2013?
|
-14%
|
{
"answer": "-14%",
"decimal": -0.14,
"type": "percentage"
}
| |
table of contents as of september 28 , 2013 .the company 2019s share repurchase program does not obligate it to acquire any specific number of shares .under the program , shares may be repurchased in privately negotiated and/or open market transactions , including under plans complying with rule 10b5-1 of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) .in august 2012 , the company entered into an accelerated share repurchase arrangement ( 201casr 201d ) with a financial institution to purchase up to $ 1.95 billion of the company 2019s common stock in 2013 .in the first quarter of 2013 , 2.6 million shares were initially delivered to the company .in april 2013 , the purchase period for the asr ended and an additional 1.5 million shares were delivered to the company .in total , 4.1 million shares were delivered under the asr at an average repurchase price of $ 478.20 per share .the shares were retired in the quarters they were delivered , and the up-front payment of $ 1.95 billion was accounted for as a reduction to shareholders 2019 equity in the company 2019s consolidated balance sheet in the first quarter of 2013 .in april 2013 , the company entered into a new asr program with two financial institutions to purchase up to $ 12 billion of the company 2019s common stock .in exchange for up-front payments totaling $ 12 billion , the financial institutions committed to deliver shares during the asr 2019s purchase periods , which will end during 2014 .the total number of shares ultimately delivered , and therefore the average price paid per share , will be determined at the end of the applicable purchase period based on the volume weighted average price of the company 2019s stock during that period .during the third quarter of 2013 , 23.5 million shares were initially delivered to the company and retired .this does not represent the final number of shares to be delivered under the asr .the up-front payments of $ 12 billion were accounted for as a reduction to shareholders 2019 equity in the company 2019s consolidated balance sheet .the company reflected the asrs as a repurchase of common stock for purposes of calculating earnings per share and as forward contracts indexed to its own common stock .the forward contracts met all of the applicable criteria for equity classification , and , therefore , were not accounted for as derivative instruments .during 2013 , the company repurchased 19.4 million shares of its common stock in the open market at an average price of $ 464.11 per share for a total of $ 9.0 billion .these shares were retired upon repurchase .note 8 2013 comprehensive income comprehensive income consists of two components , net income and other comprehensive income .other comprehensive income refers to revenue , expenses , and gains and losses that under gaap are recorded as an element of shareholders 2019 equity but are excluded from net income .the company 2019s other comprehensive income consists of foreign currency translation adjustments from those subsidiaries not using the u.s .dollar as their functional currency , net deferred gains and losses on certain derivative instruments accounted for as cash flow hedges , and unrealized gains and losses on marketable securities classified as available-for-sale .the following table shows the components of aoci , net of taxes , as of september 28 , 2013 and september 29 , 2012 ( in millions ) : .
[['', '2013', '2012'], ['cumulative foreign currency translation', '$ -105 ( 105 )', '$ 8'], ['net unrecognized gains/losses on derivative instruments', '-175 ( 175 )', '-240 ( 240 )'], ['net unrealized gains/losses on marketable securities', '-191 ( 191 )', '731'], ['accumulated other comprehensive income/ ( loss )', '$ -471 ( 471 )', '$ 499']]
.
|
what was the change in cumulative foreign currency translation during 2013?
|
-113
|
{
"answer": "-113",
"decimal": -113,
"type": "float"
}
| |
the retail electric price variance is primarily due to an increase in formula rate plan revenues , implemented with the first billing cycle of march 2016 , to collect the estimated first-year revenue requirement related to the purchase of power blocks 3 and 4 of the union power station in march 2016 and a provision recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding .see note 2 to the financial statements for further discussion of the formula rate plan revenues and the waterford 3 replacement steam generator prudence review proceeding .the louisiana act 55 financing savings obligation variance results from a regulatory charge recorded in 2016 for tax savings to be shared with customers per an agreement approved by the lpsc .the tax savings resulted from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike .see note 3 to the financial statements for additional discussion of the settlement and benefit sharing .the volume/weather variance is primarily due to the effect of less favorable weather on residential and commercial sales and decreased usage during the unbilled sales period .the decrease was partially offset by an increase of 1237 gwh , or 4% ( 4 % ) , in industrial usage primarily due to an increase in demand from existing customers and expansion projects in the chemicals industry .2016 compared to 2015 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .following is an analysis of the change in net revenue comparing 2016 to 2015 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2015 net revenue', '$ 2408.8'], ['retail electric price', '62.5'], ['volume/weather', '-6.7 ( 6.7 )'], ['louisiana act 55 financing savings obligation', '-17.2 ( 17.2 )'], ['other', '-9.0 ( 9.0 )'], ['2016 net revenue', '$ 2438.4']]
the retail electric price variance is primarily due to an increase in formula rate plan revenues , implemented with the first billing cycle of march 2016 , to collect the estimated first-year revenue requirement related to the purchase of power blocks 3 and 4 of the union power station .see note 2 to the financial statements for further discussion .the volume/weather variance is primarily due to the effect of less favorable weather on residential sales , partially offset by an increase in industrial usage and an increase in volume during the unbilled period .the increase in industrial usage is primarily due to increased demand from new customers and expansion projects , primarily in the chemicals industry .the louisiana act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the lpsc .the tax savings resulted from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike .see note 3 to the financial statements for additional discussion of the settlement and benefit sharing .included in other is a provision of $ 23 million recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding , offset by a provision of $ 32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the waterford 3 replacement steam generator prudence entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis .
|
how much higher was the net revenue in 2016 than 2015 ? ( in millions )
|
29
|
{
"answer": "29",
"decimal": 29,
"type": "float"
}
| |
2022 increased proved liquid hydrocarbon , including synthetic crude oil , reserves to 78 percent from 75 percent of proved reserves 2022 increased e&p net sales volumes , excluding libya , by 7 percent 2022 recorded 96 percent average operational availability for all major company-operated e&p assets , compared to 94 percent in 2010 2022 completed debottlenecking work that increased crude oil production capacity at the alvheim fpso in norway to 150000 gross bbld from the previous capacity of 142000 gross bbld and the original 2008 capacity of 120000 gross bbld 2022 announced two non-operated discoveries in the iraqi kurdistan region and began drilling in poland 2022 completed aosp expansion 1 , including the start-up of the expanded scotford upgrader , realizing an increase in net synthetic crude oil sales volumes of 48 percent 2022 completed dispositions of non-core assets and interests in acreage positions for net proceeds of $ 518 million 2022 repurchased 12 million shares of our common stock at a cost of $ 300 million 2022 retired $ 2498 million principal of our long-term debt 2022 resumed limited production in libya in the fourth quarter of 2011 following the february 2011 temporary suspension of operations consolidated results of operations : 2011 compared to 2010 due to the spin-off of our downstream business on june 30 , 2011 , which is reported as discontinued operations , income from continuing operations is more representative of marathon oil as an independent energy company .consolidated income from continuing operations before income taxes was 9 percent higher in 2011 than in 2010 , largely due to higher liquid hydrocarbon prices .this improvement was offset by increased income taxes primarily the result of excess foreign tax credits generated during 2011 that we do not expect to utilize in the future .the effective income tax rate for continuing operations was 61 percent in 2011 compared to 54 percent in 2010 .revenues are summarized in the following table : ( in millions ) 2011 2010 .
[['( in millions )', '2011', '2010'], ['e&p', '$ 13029', '$ 10782'], ['osm', '1588', '833'], ['ig', '93', '150'], ['segment revenues', '14710', '11765'], ['elimination of intersegment revenues', '-47 ( 47 )', '-75 ( 75 )'], ['total revenues', '$ 14663', '$ 11690']]
e&p segment revenues increased $ 2247 million from 2010 to 2011 , primarily due to higher average liquid hydrocarbon realizations , which were $ 99.37 per bbl in 2011 , a 31 percent increase over 2010 .revenues in 2010 included net pre-tax gains of $ 95 million on derivative instruments intended to mitigate price risk on future sales of liquid hydrocarbons and natural gas .included in our e&p segment are supply optimization activities which include the purchase of commodities from third parties for resale .supply optimization serves to aggregate volumes in order to satisfy transportation commitments and to achieve flexibility within product types and delivery points .see the cost of revenues discussion as revenues from supply optimization approximate the related costs .higher average crude oil prices in 2011 compared to 2010 increased revenues related to supply optimization .revenues from the sale of our u.s .production are higher in 2011 primarily as a result of higher liquid hydrocarbon and natural gas price realizations , but sales volumes declined. .
|
what was the total revenues for 2011 and 2010 , in millions?
|
2973
|
{
"answer": "2973",
"decimal": 2973,
"type": "float"
}
| |
jpmorgan chase & co./2012 annual report 119 implementing further revisions to the capital accord in the u.s .( such further revisions are commonly referred to as 201cbasel iii 201d ) .basel iii revised basel ii by , among other things , narrowing the definition of capital , and increasing capital requirements for specific exposures .basel iii also includes higher capital ratio requirements and provides that the tier 1 common capital requirement will be increased to 7% ( 7 % ) , comprised of a minimum ratio of 4.5% ( 4.5 % ) plus a 2.5% ( 2.5 % ) capital conservation buffer .implementation of the 7% ( 7 % ) tier 1 common capital requirement is required by january 1 , in addition , global systemically important banks ( 201cgsibs 201d ) will be required to maintain tier 1 common requirements above the 7% ( 7 % ) minimum in amounts ranging from an additional 1% ( 1 % ) to an additional 2.5% ( 2.5 % ) .in november 2012 , the financial stability board ( 201cfsb 201d ) indicated that it would require the firm , as well as three other banks , to hold the additional 2.5% ( 2.5 % ) of tier 1 common ; the requirement will be phased in beginning in 2016 .the basel committee also stated it intended to require certain gsibs to hold an additional 1% ( 1 % ) of tier 1 common under certain circumstances , to act as a disincentive for the gsib from taking actions that would further increase its systemic importance .currently , no gsib ( including the firm ) is required to hold this additional 1% ( 1 % ) of tier 1 common .in addition , pursuant to the requirements of the dodd-frank act , u.s .federal banking agencies have proposed certain permanent basel i floors under basel ii and basel iii capital calculations .the following table presents a comparison of the firm 2019s tier 1 common under basel i rules to its estimated tier 1 common under basel iii rules , along with the firm 2019s estimated risk-weighted assets .tier 1 common under basel iii includes additional adjustments and deductions not included in basel i tier 1 common , such as the inclusion of aoci related to afs securities and defined benefit pension and other postretirement employee benefit ( 201copeb 201d ) plans .the firm estimates that its tier 1 common ratio under basel iii rules would be 8.7% ( 8.7 % ) as of december 31 , 2012 .the tier 1 common ratio under both basel i and basel iii are non- gaap financial measures .however , such measures are used by bank regulators , investors and analysts as a key measure to assess the firm 2019s capital position and to compare the firm 2019s capital to that of other financial services companies .december 31 , 2012 ( in millions , except ratios ) .
[['tier 1 common under basel i rules', '$ 140342'], ['adjustments related to aoci for afs securities and defined benefit pension and opeb plans', '4077'], ['all other adjustments', '-453 ( 453 )'], ['estimated tier 1 common under basel iii rules', '$ 143966'], ['estimated risk-weighted assets under basel iii rules ( a )', '$ 1647903'], ['estimated tier 1 common ratio under basel iii rules ( b )', '8.7% ( 8.7 % )']]
estimated risk-weighted assets under basel iii rules ( a ) $ 1647903 estimated tier 1 common ratio under basel iii rules ( b ) 8.7% ( 8.7 % ) ( a ) key differences in the calculation of risk-weighted assets between basel i and basel iii include : ( 1 ) basel iii credit risk rwa is based on risk-sensitive approaches which largely rely on the use of internal credit models and parameters , whereas basel i rwa is based on fixed supervisory risk weightings which vary only by counterparty type and asset class ; ( 2 ) basel iii market risk rwa reflects the new capital requirements related to trading assets and securitizations , which include incremental capital requirements for stress var , correlation trading , and re-securitization positions ; and ( 3 ) basel iii includes rwa for operational risk , whereas basel i does not .the actual impact on the firm 2019s capital ratios upon implementation could differ depending on final implementation guidance from the regulators , as well as regulatory approval of certain of the firm 2019s internal risk models .( b ) the tier 1 common ratio is tier 1 common divided by rwa .the firm 2019s estimate of its tier 1 common ratio under basel iii reflects its current understanding of the basel iii rules based on information currently published by the basel committee and u.s .federal banking agencies and on the application of such rules to its businesses as currently conducted ; it excludes the impact of any changes the firm may make in the future to its businesses as a result of implementing the basel iii rules , possible enhancements to certain market risk models , and any further implementation guidance from the regulators .the basel iii capital requirements are subject to prolonged transition periods .the transition period for banks to meet the tier 1 common requirement under basel iii was originally scheduled to begin in 2013 , with full implementation on january 1 , 2019 .in november 2012 , the u.s .federal banking agencies announced a delay in the implementation dates for the basel iii capital requirements .the additional capital requirements for gsibs will be phased in starting january 1 , 2016 , with full implementation on january 1 , 2019 .management 2019s current objective is for the firm to reach , by the end of 2013 , an estimated basel iii tier i common ratio of 9.5% ( 9.5 % ) .additional information regarding the firm 2019s capital ratios and the federal regulatory capital standards to which it is subject is presented in supervision and regulation on pages 1 20138 of the 2012 form 10-k , and note 28 on pages 306 2013 308 of this annual report .broker-dealer regulatory capital jpmorgan chase 2019s principal u.s .broker-dealer subsidiaries are j.p .morgan securities llc ( 201cjpmorgan securities 201d ) and j.p .morgan clearing corp .( 201cjpmorgan clearing 201d ) .jpmorgan clearing is a subsidiary of jpmorgan securities and provides clearing and settlement services .jpmorgan securities and jpmorgan clearing are each subject to rule 15c3-1 under the securities exchange act of 1934 ( the 201cnet capital rule 201d ) .jpmorgan securities and jpmorgan clearing are also each registered as futures commission merchants and subject to rule 1.17 of the commodity futures trading commission ( 201ccftc 201d ) .jpmorgan securities and jpmorgan clearing have elected to compute their minimum net capital requirements in accordance with the 201calternative net capital requirements 201d of the net capital rule .at december 31 , 2012 , jpmorgan securities 2019 net capital , as defined by the net capital rule , was $ 13.5 billion , exceeding the minimum requirement by .
|
how much more money would jp morgan need to meet management 2019s plan to reach an estimated basel iii tier i common ratio of 9.5%?
|
$ 12584
|
{
"answer": "$ 12584",
"decimal": 12584,
"type": "money"
}
|
to find out how much money the firm would need we need to take the current estimated risk-weighted assets under basel iii rules and multiple it by 9.5% . we then take this number and subtract it from the current estimated tier 1 common under basel iii rules . this will get us our final answer of $ 12584
|
taxes .if group or its bermuda subsidiaries were to become subject to u.s .income tax ; there could be a material adverse effect on the company 2019s financial condition , results of operations and cash flows .united kingdom .bermuda re 2019s uk branch conducts business in the uk and is subject to taxation in the uk .bermuda re believes that it has operated and will continue to operate its bermuda operation in a manner which will not cause them to be subject to uk taxation .if bermuda re 2019s bermuda operations were to become subject to uk income tax there could be a material adverse impact on the company 2019s financial condition , results of operations and cash flow .available information the company 2019s annual reports on form 10-k , quarterly reports on form 10-q , current reports on form 8-k , proxy state- ments and amendments to those reports are available free of charge through the company 2019s internet website at http://www.everestre.com as soon as reasonably practicable after such reports are electronically filed with the securities and exchange commission ( the 201csec 201d ) .i t e m 1 a .r i s k f a c t o r s in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities .if the circumstances contemplated by the individual risk factors materialize , our business , finan- cial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly .r i s k s r e l a t i n g t o o u r b u s i n e s s our results could be adversely affected by catastrophic events .we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism .any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations .we define a catastrophe as an event that causes a pre-tax loss on property exposures before reinsurance of at least $ 5.0 million , before corporate level rein- surance and taxes .effective for the third quarter 2005 , industrial risk losses have been excluded from catastrophe losses , with prior periods adjusted for comparison purposes .by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of contract specific reinsurance but before cessions under corporate reinsurance programs , were as follows: .
[['calendar year', 'calendar year', ''], ['2006', '$ 287.9', 'million'], ['2005', '$ 1485.7', 'million'], ['2004', '$ 390.0', 'million'], ['2003', '$ 35.0', 'million'], ['2002', '$ 30.0', 'million']]
our losses from future catastrophic events could exceed our projections .we use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic under- writing tool .we use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the purchase of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area .these loss projections are approximations reliant on a mix of quantitative and qualitative processes and actual losses may exceed the projections by a material amount .we focus on potential losses that can be generated by any single event as part of our evaluation and monitoring of our aggre- gate exposure to catastrophic events .accordingly , we employ various techniques to estimate the amount of loss we could sustain from any single catastrophic event in various geographical areas .these techniques range from non-modeled deterministic approaches 2014such as tracking aggregate limits exposed in catastrophe-prone zones and applying historic dam- age factors 2014to modeled approaches that scientifically measure catastrophe risks using sophisticated monte carlo simulation techniques that provide insights into the frequency and severity of expected losses on a probabilistic basis .if our loss reserves are inadequate to meet our actual losses , net income would be reduced or we could incur a loss .we are required to maintain reserves to cover our estimated ultimate liability of losses and loss adjustment expenses for both reported and unreported claims incurred .these reserves are only estimates of what we believe the settlement and adminis- tration of claims will cost based on facts and circumstances known to us .in setting reserves for our reinsurance liabilities , we rely on claim data supplied by our ceding companies and brokers and we employ actuarial and statistical projections .the information received from our ceding companies is not always timely or accurate , which can contribute to inaccuracies in our 81790fin_a 4/13/07 11:08 am page 23 http://www.everestre.com .
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what are the total pre-tax catastrophe losses in the three two years?
|
2163.6
|
{
"answer": "2163.6",
"decimal": 2163.6,
"type": "float"
}
| |
the table below summarizes activity of rsus with performance conditions for the year ended december 31 , shares ( in thousands ) weighted average grant date fair value ( per share ) .
[['', 'shares ( in thousands )', 'weightedaverage grantdate fair value ( per share )'], ['non-vested total as of december 31 2016', '309', '$ 55.94'], ['granted', '186', '63.10'], ['vested', '-204 ( 204 )', '46.10'], ['forfeited', '-10 ( 10 )', '70.50'], ['non-vested total as of december 31 2017', '281', '$ 67.33']]
as of december 31 , 2017 , $ 6 million of total unrecognized compensation cost related to the nonvested rsus , with and without performance conditions , is expected to be recognized over the weighted-average remaining life of 1.5 years .the total fair value of rsus , with and without performance conditions , vested was $ 16 million , $ 14 million and $ 12 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .if dividends are paid with respect to shares of the company 2019s common stock before the rsus are distributed , the company credits a liability for the value of the dividends that would have been paid if the rsus were shares of company common stock .when the rsus 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 less than $ 1 million , $ 1 million and $ 1 million to accumulated deficit in the accompanying consolidated statements of changes in stockholders 2019 equity for the years ended december 31 , 2017 , 2016 and 2015 , 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 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 february 15 , 2017 , the board adopted the american water works company , inc .and its designated subsidiaries 2017 nonqualified employee stock purchase plan , which was approved by stockholders on may 12 , 2017 and took effect on august 5 , 2017 .the prior plan was terminated as to new purchases of company stock effective august 31 , 2017 .as of december 31 , 2017 , there were 2.0 million shares of common stock reserved for issuance under the espp .the espp is considered compensatory .during the years ended december 31 , 2017 , 2016 and 2015 , the company issued 93 thousand , 93 thousand and 98 thousand shares , respectively , under the espp. .
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by how much did non-vested rsu's decrease from 2016 to 2017?
|
-9.1%
|
{
"answer": "-9.1%",
"decimal": -0.091,
"type": "percentage"
}
|
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