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f-772016 annual report the hartford financial services group , inc .notes to consolidated financial statements ( continued ) 13 .debt ( continued ) the 7.875% ( 7.875 % ) and 8.125% ( 8.125 % ) debentures may be redeemed in whole prior to the call date upon certain tax or rating agency events , at a price equal to the greater of 100% ( 100 % ) of the principal amount being redeemed and the applicable make-whole amount plus any accrued and unpaid interest .the company may elect to redeem the 8.125% ( 8.125 % ) debentures in whole or part at its option prior to the call date at a price equal to the greater of 100% ( 100 % ) of the principal amount being redeemed and the applicable make-whole amount plus any accrued and unpaid interest .the company may elect to redeem the 7.875% ( 7.875 % ) and 8.125% ( 8.125 % ) debentures in whole or in part on or after the call date for the principal amount being redeemed plus accrued and unpaid interest to the date of redemption .in connection with the offering of the 8.125% ( 8.125 % ) debentures , the company entered into a replacement capital covenant ( 201crcc 201d ) for the benefit of holders of one or more designated series of the company 2019s indebtedness , initially the company 2019s 6.1% ( 6.1 % ) notes due 2041 .under the terms of the rcc , if the company redeems the 8.125% ( 8.125 % ) debentures at any time prior to june 15 , 2048 it can only do so with the proceeds from the sale of certain qualifying replacement securities .on february 7 , 2017 , the company executed an amendment to the rcc to lengthen the amount of time the company has to issue qualifying replacement securities prior to the redemption of the 8.125% ( 8.125 % ) debentures and to amend the definition of certain qualifying replacement securities .long-term debt long-term debt maturities ( at par value ) as of december 31 , 2016 .
[['2017 - current maturities', '$ 416'], ['2018', '$ 320'], ['2019', '$ 413'], ['2020', '$ 500'], ['2021', '$ 2014'], ['thereafter', '$ 3525']]
shelf registrations on july 29 , 2016 , the company filed with the securities and exchange commission ( the 201csec 201d ) an automatic shelf registration statement ( registration no .333-212778 ) for the potential offering and sale of debt and equity securities .the registration statement allows for the following types of securities to be offered : debt securities , junior subordinated debt securities , preferred stock , common stock , depositary shares , warrants , stock purchase contracts , and stock purchase units .in that the hartford is a well- known seasoned issuer , as defined in rule 405 under the securities act of 1933 , the registration statement went effective immediately upon filing and the hartford may offer and sell an unlimited amount of securities under the registration statement during the three-year life of the registration statement .contingent capital facility the hartford is party to a put option agreement that provides the hartford with the right to require the glen meadow abc trust , a delaware statutory trust , at any time and from time to time , to purchase the hartford 2019s junior subordinated notes in a maximum aggregate principal amount not to exceed $ 500 .on february 8 , 2017 , the hartford exercised the put option resulting in the issuance of $ 500 in junior subordinated notes with proceeds received on february 15 , 2017 .under the put option agreement , the hartford had been paying the glen meadow abc trust premiums on a periodic basis , calculated with respect to the aggregate principal amount of notes that the hartford had the right to put to the glen meadow abc trust for such period .the hartford has agreed to reimburse the glen meadow abc trust for certain fees and ordinary expenses .the company holds a variable interest in the glen meadow abc trust where the company is not the primary beneficiary .as a result , the company does not consolidate the glen meadow abc trust .the junior subordinated notes have a scheduled maturity of february 12 , 2047 , and a final maturity of february 12 , 2067 .the company is required to use reasonable efforts to sell certain qualifying replacement securities in order to repay the debentures at the scheduled maturity date .the junior subordinated notes bear interest at an annual rate of three-month libor plus 2.125% ( 2.125 % ) , payable quarterly , and are unsecured , subordinated indebtedness of the hartford .the hartford will have the right , on one or more occasions , to defer interest payments due on the junior subordinated notes under specified circumstances .upon receipt of the proceeds , the company entered into a replacement capital covenant ( the 201crcc 201d ) for the benefit of holders of one or more designated series of the company 2019s indebtedness , initially the company 2019s 4.3% ( 4.3 % ) notes due 2043 .under the terms of the rcc , if the company redeems the debentures at any time prior to february 12 , 2047 ( or such earlier date on which the rcc terminates by its terms ) it can only do so with the proceeds from the sale of certain qualifying replacement securities .the rcc also prohibits the company from redeeming all or any portion of the notes on or prior to february 15 , 2022 .revolving credit facilities the company has a senior unsecured five-year revolving credit facility ( the 201ccredit facility 201d ) that provides for borrowing capacity up to $ 1 billion of unsecured credit through october 31 , 2019 available in u.s .dollars , euro , sterling , canadian dollars and japanese yen .as of december 31 , 2016 , no borrowings were outstanding under the credit facility .as of december 31 , 2016 , the company was in compliance with all financial covenants within the credit facility .commercial paper the hartford 2019s maximum borrowings available under its commercial paper program are $ 1 billion .the company is dependent upon market conditions to access short-term financing through the issuance of commercial paper to investors .as of december 31 , 2016 , there was no commercial paper outstanding. .
|
as of december 2016 what was the average long-term debt maturities that was due between 2017 and 2020 in millions
|
412.25
|
{
"answer": "412.25",
"decimal": 412.25,
"type": "float"
}
| |
from time to time , we may elect to use foreign currency forward contracts to reduce the risk from exchange rate fluctuations on intercompany transactions and projected inventory purchases for our european and canadian subsidiaries .in addition , we may elect to enter into foreign currency forward contracts to reduce the risk associated with foreign currency exchange rate fluctuations on pound sterling denominated balance sheet items .we do not enter into derivative financial instruments for speculative or trading purposes .based on the foreign currency forward contracts outstanding as of december 31 , 2011 , we receive u.s .dollars in exchange for canadian dollars at a weighted average contractual forward foreign currency exchange rate of 1.03 cad per $ 1.00 , u.s .dollars in exchange for euros at a weighted average contractual foreign currency exchange rate of 20ac0.77 per $ 1.00 and euros in exchange for pounds sterling at a weighted average contractual foreign currency exchange rate of a30.84 per 20ac1.00 .as of december 31 , 2011 , the notional value of our outstanding foreign currency forward contracts for our canadian subsidiary was $ 51.1 million with contract maturities of 1 month or less , and the notional value of our outstanding foreign currency forward contracts for our european subsidiary was $ 50.0 million with contract maturities of 1 month .as of december 31 , 2011 , the notional value of our outstanding foreign currency forward contract used to mitigate the foreign currency exchange rate fluctuations on pound sterling denominated balance sheet items was 20ac10.5 million , or $ 13.6 million , with a contract maturity of 1 month .the foreign currency forward contracts are not designated as cash flow hedges , and accordingly , changes in their fair value are recorded in other expense , net on the consolidated statements of income .the fair values of our foreign currency forward contracts were liabilities of $ 0.7 million and $ 0.6 million as of december 31 , 2011 and 2010 , respectively , and were included in accrued expenses on the consolidated balance sheet .refer to note 10 to the consolidated financial statements for a discussion of the fair value measurements .included in other expense , net were the following amounts related to changes in foreign currency exchange rates and derivative foreign currency forward contracts: .
[['year ended december 31 , ( in thousands )', 'year ended december 31 , 2011', 'year ended december 31 , 2010', '2009'], ['unrealized foreign currency exchange rate gains ( losses )', '$ -4027 ( 4027 )', '$ -1280 ( 1280 )', '$ 5222'], ['realized foreign currency exchange rate gains ( losses )', '298', '-2638 ( 2638 )', '-261 ( 261 )'], ['unrealized derivative losses', '-31 ( 31 )', '-809 ( 809 )', '-1060 ( 1060 )'], ['realized derivative gains ( losses )', '1696', '3549', '-4412 ( 4412 )']]
we enter into foreign currency forward contracts with major financial institutions with investment grade credit ratings and are exposed to credit losses in the event of non-performance by these financial institutions .this credit risk is generally limited to the unrealized gains in the foreign currency forward contracts .however , we monitor the credit quality of these financial institutions and consider the risk of counterparty default to be minimal .although we have entered into foreign currency forward contracts to minimize some of the impact of foreign currency exchange rate fluctuations on future cash flows , we cannot be assured that foreign currency exchange rate fluctuations will not have a material adverse impact on our financial condition and results of operations .inflation inflationary factors such as increases in the cost of our product and overhead costs may adversely affect our operating results .although we do not believe that inflation has had a material impact on our financial position or results of operations to date , a high rate of inflation in the future may have an adverse effect on our ability to maintain current levels of gross margin and selling , general and administrative expenses as a percentage of net revenues if the selling prices of our products do not increase with these increased costs. .
|
as of december 312011 what was the percentage increase in the unrealized foreign currency exchange rate gains ( losses )
|
215%
|
{
"answer": "215%",
"decimal": 2.15,
"type": "percentage"
}
|
the was a 215% increase unrealized foreign currency exchange rate gains ( losses ) in 2011
|
packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2006 4 .stock-based compensation ( continued ) as of december 31 , 2006 , there was $ 8330000 of total unrecognized compensation costs related to the restricted stock awards .the company expects to recognize the cost of these stock awards over a weighted-average period of 2.5 years .5 .accrued liabilities the components of accrued liabilities are as follows: .
[['( in thousands )', 'december 31 , 2006', 'december 31 , 2005'], ['bonuses and incentives', '$ 29822', '$ 21895'], ['medical insurance and workers 2019 compensation', '18279', '18339'], ['vacation and holiday pay', '14742', '14159'], ['customer volume discounts and rebates', '13777', '13232'], ['franchise and property taxes', '8432', '8539'], ['payroll and payroll taxes', '5465', '4772'], ['other', '9913', '5889'], ['total', '$ 100430', '$ 86825']]
6 .employee benefit plans and other postretirement benefits in connection with the acquisition from pactiv , pca and pactiv entered into a human resources agreement which , among other items , granted pca employees continued participation in the pactiv pension plan for a period of up to five years following the closing of the acquisition for an agreed upon fee .effective january 1 , 2003 , pca adopted a mirror-image pension plan for eligible hourly employees to succeed the pactiv pension plan in which pca hourly employees had participated though december 31 , 2002 .the pca pension plan for hourly employees recognizes service earned under both the pca plan and the prior pactiv plan .benefits earned under the pca plan are reduced by retirement benefits earned under the pactiv plan through december 31 , 2002 .all assets and liabilities associated with benefits earned through december 31 , 2002 for hourly employees and retirees of pca were retained by the pactiv plan .effective may 1 , 2004 , pca adopted a grandfathered pension plan for certain salaried employees who had previously participated in the pactiv pension plan pursuant to the above mentioned human resource agreement .the benefit formula for the new pca pension plan for salaried employees is comparable to that of the pactiv plan except that the pca plan uses career average base pay in the benefit formula in lieu of final average base pay .the pca pension plan for salaried employees recognizes service earned under both the pca plan and the prior pactiv plan .benefits earned under the pca plan are reduced by retirement benefits earned under the pactiv plan through april 30 , 2004 .all assets and liabilities associated with benefits earned through april 30 , 2004 for salaried employees and retirees of pca were retained by the pactiv plan .pca maintains a supplemental executive retirement plan ( 201cserp 201d ) , which augments pension benefits for eligible executives ( excluding the ceo ) earned under the pca pension plan for salaried employees .benefits are determined using the same formula as the pca pension plan but in addition to counting .
|
as of december 312006 what was the expected annual unrecognized compensation to be recognized in the future periods
|
3332000
|
{
"answer": "3332000",
"decimal": 3332000,
"type": "float"
}
|
the company expects to recognize 3332000 from the total unrecognized compensation costs
|
other operating and administrative expenses increased slightly in 2015 due to increased expenses asso- ciated with our larger film slate .other operating and administrative expenses increased in 2014 primarily due to the inclusion of fandango , which was previously presented in our cable networks segment .advertising , marketing and promotion expenses advertising , marketing and promotion expenses consist primarily of expenses associated with advertising for our theatrical releases and the marketing of our films on dvd and in digital formats .we incur significant marketing expenses before and throughout the release of a film in movie theaters .as a result , we typically incur losses on a film prior to and during the film 2019s exhibition in movie theaters and may not realize profits , if any , until the film generates home entertainment and content licensing revenue .the costs associated with producing and marketing films have generally increased in recent years and may continue to increase in the future .advertising , marketing and promotion expenses increased in 2015 primarily due to higher promotional costs associated with our larger 2015 film slate and increased advertising expenses for fandango .advertising , marketing and promotion expenses decreased in 2014 primarily due to fewer major film releases compared to theme parks segment results of operations year ended december 31 ( in millions ) 2015 2014 2013 % ( % ) change 2014 to 2015 % ( % ) change 2013 to 2014 .
[['year ended december 31 ( in millions )', '2015', '2014', '2013', '% ( % ) change 2014 to 2015', '% ( % ) change 2013 to 2014'], ['revenue', '$ 3339', '$ 2623', '$ 2235', '27.3% ( 27.3 % )', '17.3% ( 17.3 % )'], ['operating costs and expenses', '1875', '1527', '1292', '22.8', '18.1'], ['operating income before depreciation and amortization', '$ 1464', '$ 1096', '$ 943', '33.5% ( 33.5 % )', '16.3% ( 16.3 % )']]
operating income before depreciation and amortization $ 1464 $ 1096 $ 943 33.5% ( 33.5 % ) 16.3% ( 16.3 % ) theme parks segment 2013 revenue in 2015 , our theme parks segment revenue was generated primarily from ticket sales and guest spending at our universal theme parks in orlando , florida and hollywood , california , as well as from licensing and other fees .in november 2015 , nbcuniversal acquired a 51% ( 51 % ) interest in universal studios japan .guest spending includes in-park spending on food , beverages and merchandise .guest attendance at our theme parks and guest spending depend heavily on the general environment for travel and tourism , including consumer spend- ing on travel and other recreational activities .licensing and other fees relate primarily to our agreements with third parties that own and operate the universal studios singapore theme park , as well as from the universal studios japan theme park , to license the right to use the universal studios brand name and other intellectual property .theme parks segment revenue increased in 2015 and 2014 primarily due to increases in guest attendance and increases in guest spending at our orlando and hollywood theme parks .the increase in 2015 was pri- marily due to the continued success of our attractions , including the wizarding world of harry potter 2122 2014 diagon alley 2122 in orlando and the fast & furious 2122 2014 supercharged 2122 studio tour and the simpson 2019s springfield attraction in hollywood , both of which opened in 2015 .in addition , theme parks segment revenue in 2015 includes $ 169 million of revenue attributable to universal studios japan for the period from november 13 , 2015 to december 31 , 2015 .the increase in 2014 was primarily due to new attractions , such as the wizarding world of harry potter 2122 2014 diagon alley 2122 in orlando , which opened in july 2014 , and despicable me : minion mayhem in hollywood .59 comcast 2015 annual report on form 10-k .
|
what was the operating profit margin for the year of 2015?
|
44%
|
{
"answer": "44%",
"decimal": 0.44,
"type": "percentage"
}
|
operating margin is a measure of the efficiency of on going operations before extraneous expenses of overhead .
|
selling , general and administrative expenses increased $ 286.7 million to $ 1158.3 million in 2014 from $ 871.6 million in 2013 .as a percentage of net revenues , selling , general and administrative expenses increased to 37.5% ( 37.5 % ) in 2014 from 37.3% ( 37.3 % ) in 2013 .these changes were primarily attributable to the following : 2022 marketing costs increased $ 86.5 million to $ 333.0 million in 2014 from $ 246.5 million in 2013 primarily due to increased global sponsorship of professional teams and athletes .as a percentage of net revenues , marketing costs increased to 10.8% ( 10.8 % ) in 2014 from 10.5% ( 10.5 % ) .2022 other costs increased increased $ 200.2 million to $ 825.3 million in 2014 from $ 625.1 million in 2013 .this increase was primarily due to higher personnel and other costs incurred for the continued expansion of our direct to consumer distribution channel , including increased investment for our brand house stores .this increase was also due to additional investment in our connected fitness business .as a percentage of net revenues , other costs were unchanged at 26.8% ( 26.8 % ) in 2014 and 2013 .income from operations increased $ 88.9 million , or 33.5% ( 33.5 % ) , to $ 354.0 million in 2014 from $ 265.1 million in 2013 .income from operations as a percentage of net revenues increased to 11.5% ( 11.5 % ) in 2014 from 11.4% ( 11.4 % ) in 2013 .interest expense , net increased $ 2.4 million to $ 5.3 million in 2014 from $ 2.9 million in 2013 .this increase was primarily due to the $ 150.0 million and $ 100.0 million term loans borrowed during 2014 .other expense , net increased $ 5.2 million to $ 6.4 million in 2014 from $ 1.2 million in 2013 .this increase was due to higher net losses in 2014 on the combined foreign currency exchange rate changes on transactions denominated in foreign currencies and our foreign currency derivative financial instruments as compared to 2013 .provision for income taxes increased $ 35.5 million to $ 134.2 million in 2014 from $ 98.7 million in 2013 .our effective tax rate was 39.2% ( 39.2 % ) in 2014 compared to 37.8% ( 37.8 % ) in 2013 .our effective tax rate for 2014 was higher than the effective tax rate for 2013 primarily due to increased foreign investments driving a lower proportion of foreign taxable income in 2014 and state tax credits received in 2013 .segment results of operations the net revenues and operating income ( loss ) associated with our segments are summarized in the following tables .the majority of corporate expenses within north america have not been allocated to international or connected fitness ; however , certain costs and revenues included within north america in the prior period have been allocated to connected fitness in the current period .prior period segment data has been recast by an immaterial amount within the tables to conform to the current period presentation .year ended december 31 , 2015 compared to year ended december 31 , 2014 net revenues by segment are summarized below: .
[['( in thousands )', 'year ended december 31 , 2015', 'year ended december 31 , 2014', 'year ended december 31 , $ change', 'year ended december 31 , % ( % ) change'], ['north america', '$ 3455737', '$ 2796374', '$ 659363', '23.6% ( 23.6 % )'], ['international', '454161', '268771', '185390', '69.0'], ['connected fitness', '53415', '19225', '34190', '177.8'], ['total net revenues', '$ 3963313', '$ 3084370', '$ 878943', '28.5% ( 28.5 % )']]
net revenues in our north america operating segment increased $ 659.3 million to $ 3455.7 million in 2015 from $ 2796.4 million in 2014 primarily due to the items discussed above in the consolidated results of operations .net revenues in international increased $ 185.4 million to $ 454.2 million in 2015 from $ 268.8 million in 2014 primarily due to unit sales growth in our emea and asia-pacific operating segments .net revenues in our connected fitness operating segment increased $ 34.2 million to $ 53.4 million in 2015 from $ 19.2 million in 2014 primarily due to revenues generated from our two connected fitness acquisitions in 2015 and growth in our existing connected fitness business. .
|
in 2015 what was the percent of the north america to the total net revenues
|
87.2%
|
{
"answer": "87.2%",
"decimal": 0.872,
"type": "percentage"
}
| |
our non-operating investment activity resulted in net losses of $ 12.7 million in 2009 and $ 52.3 million in 2008 .the improvement of nearly $ 40 million is primarily attributable to a reduction in the other than temporary impairments recognized on our investments in sponsored mutual funds in 2009 versus 2008 .the following table details our related mutual fund investment gains and losses ( in millions ) during the past two years. .
[['', '2008', '2009', 'change'], ['other than temporary impairments recognized', '$ -91.3 ( 91.3 )', '$ -36.1 ( 36.1 )', '$ 55.2'], ['capital gain distributions received', '5.6', '2.0', '-3.6 ( 3.6 )'], ['net gain ( loss ) realized on fund dispositions', '-4.5 ( 4.5 )', '7.4', '11.9'], ['net loss recognized on fund holdings', '$ -90.2 ( 90.2 )', '$ -26.7 ( 26.7 )', '$ 63.5']]
lower income of $ 16 million from our money market holdings due to the significantly lower interest rate environment offset the improvement experienced with our fund investments .there is no impairment of any of our mutual fund investments at december 31 , 2009 .the 2009 provision for income taxes as a percentage of pretax income is 37.1% ( 37.1 % ) , down from 38.4% ( 38.4 % ) in 2008 and .9% ( .9 % ) lower than our present estimate of 38.0% ( 38.0 % ) for the 2010 effective tax rate .our 2009 provision includes reductions of prior years 2019 tax provisions and discrete nonrecurring benefits that lowered our 2009 effective tax rate by 1.0% ( 1.0 % ) .2008 versus 2007 .investment advisory revenues decreased 6.3% ( 6.3 % ) , or $ 118 million , to $ 1.76 billion in 2008 as average assets under our management decreased $ 16 billion to $ 358.2 billion .the average annualized fee rate earned on our assets under management was 49.2 basis points in 2008 , down from the 50.2 basis points earned in 2007 , as lower equity market valuations resulted in a greater percentage of our assets under management being attributable to lower fee fixed income portfolios .continuing stress on the financial markets and resulting lower equity valuations as 2008 progressed resulted in lower average assets under our management , lower investment advisory fees and lower net income as compared to prior periods .net revenues decreased 5% ( 5 % ) , or $ 112 million , to $ 2.12 billion .operating expenses were $ 1.27 billion in 2008 , up 2.9% ( 2.9 % ) or $ 36 million from 2007 .net operating income for 2008 decreased $ 147.9 million , or 14.8% ( 14.8 % ) , to $ 848.5 million .higher operating expenses in 2008 and decreased market valuations during the latter half of 2008 , which lowered our assets under management and advisory revenues , resulted in our 2008 operating margin declining to 40.1% ( 40.1 % ) from 44.7% ( 44.7 % ) in 2007 .non-operating investment losses in 2008 were $ 52.3 million as compared to investment income of $ 80.4 million in 2007 .investment losses in 2008 include non-cash charges of $ 91.3 million for the other than temporary impairment of certain of the firm 2019s investments in sponsored mutual funds .net income in 2008 fell 27% ( 27 % ) or nearly $ 180 million from 2007 .diluted earnings per share , after the retrospective application of new accounting guidance effective in 2009 , decreased to $ 1.81 , down $ .59 or 24.6% ( 24.6 % ) from $ 2.40 in 2007 .a non-operating charge to recognize other than temporary impairments of our sponsored mutual fund investments reduced diluted earnings per share by $ .21 in 2008 .investment advisory revenues earned from the t .rowe price mutual funds distributed in the united states decreased 8.5% ( 8.5 % ) , or $ 114.5 million , to $ 1.24 billion .average mutual fund assets were $ 216.1 billion in 2008 , down $ 16.7 billion from 2007 .mutual fund assets at december 31 , 2008 , were $ 164.4 billion , down $ 81.6 billion from the end of 2007 .net inflows to the mutual funds during 2008 were $ 3.9 billion , including $ 1.9 billion to the money funds , $ 1.1 billion to the bond funds , and $ .9 billion to the stock funds .the value , equity index 500 , and emerging markets stock funds combined to add $ 4.1 billion , while the mid-cap growth and equity income stock funds had net redemptions of $ 2.2 billion .net fund inflows of $ 6.2 billion originated in our target-date retirement funds , which in turn invest in other t .rowe price funds .fund net inflow amounts in 2008 are presented net of $ 1.3 billion that was transferred to target-date trusts from the retirement funds during the year .decreases in market valuations and income not reinvested lowered our mutual fund assets under management by $ 85.5 billion during 2008 .investment advisory revenues earned on the other investment portfolios that we manage decreased $ 3.6 million to $ 522.2 million .average assets in these portfolios were $ 142.1 billion during 2008 , up slightly from $ 141.4 billion in 2007 .these minor changes , each less than 1% ( 1 % ) , are attributable to the timing of declining equity market valuations and cash flows among our separate account and subadvised portfolios .net inflows , primarily from institutional investors , were $ 13.2 billion during 2008 , including the $ 1.3 billion transferred from the retirement funds to target-date trusts .decreases in market valuations , net of income , lowered our assets under management in these portfolios by $ 55.3 billion during 2008 .management 2019s discussion & analysis 21 .
|
what percentage of the net inflows primarily from institutional investors was due to the transfer from retirement funds to target-date trusts?
|
10%
|
{
"answer": "10%",
"decimal": 0.1,
"type": "percentage"
}
| |
holding other assumptions constant , the following table reflects what a one hundred basis point increase and decrease in our estimated long-term rate of return on plan assets would have on our estimated 2010 pension expense ( in millions ) : change in long-term rate of return on plan assets .
[['increase ( decrease ) in expense', 'change in long-term rateof return on plan assets increase', 'change in long-term rateof return on plan assets decrease'], ['u.s . plans', '$ -13 ( 13 )', '$ 13'], ['u.k . plans', '-32 ( 32 )', '32'], ['the netherlands plan', '-5 ( 5 )', '5'], ['canada plans', '-2 ( 2 )', '2']]
estimated future contributions we estimate contributions of approximately $ 381 million in 2010 as compared with $ 437 million in goodwill and other intangible assets goodwill represents the excess of cost over the fair market value of the net assets acquired .we classify our intangible assets acquired as either trademarks , client lists , non-compete agreements , or other purchased intangibles .our goodwill and other intangible balances at december 31 , 2009 were $ 6.1 billion and $ 791 million , respectively , compared to $ 5.6 billion and $ 779 million , respectively , at december 31 , 2008 .although goodwill is not amortized , we test it for impairment at least annually in the fourth quarter .beginning in 2009 , we also test trademarks ( which also are not amortized ) that were acquired in conjunction with the benfield merger for impairment .we test more frequently if there are indicators of impairment or whenever business circumstances suggest that the carrying value of goodwill or trademarks may not be recoverable .these indicators may include a sustained significant decline in our share price and market capitalization , a decline in our expected future cash flows , or a significant adverse change in legal factors or in the business climate , among others .no events occurred during 2009 or 2008 that indicate the existence of an impairment with respect to our reported goodwill or trademarks .we perform impairment reviews at the reporting unit level .a reporting unit is an operating segment or one level below an operating segment ( referred to as a 2018 2018component 2019 2019 ) .a component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component .an operating segment shall be deemed to be a reporting unit if all of its components are similar , if none of its components is a reporting unit , or if the segment comprises only a single component .the goodwill impairment test is a two step analysis .step one requires the fair value of each reporting unit to be compared to its book value .management must apply judgment in determining the estimated fair value of the reporting units .if the fair value of a reporting unit is determined to be greater than the carrying value of the reporting unit , goodwill and trademarks are deemed not to be impaired and no further testing is necessary .if the fair value of a reporting unit is less than the carrying value , we perform step two .step two uses the calculated fair value of the reporting unit to perform a hypothetical purchase price allocation to the fair value of the assets and liabilities of the reporting unit .the difference between the fair value of the reporting unit calculated in step one and the fair value of the underlying assets and liabilities of the reporting unit is the implied fair value of .
|
considering the year 2010 , what is the difference between the expected contributions and the goodwill and other intangible assets value , in millions?
|
56
|
{
"answer": "56",
"decimal": 56,
"type": "float"
}
|
it is the variation between those values .
|
entergy corporation and subsidiaries management 2019s financial discussion and analysis net revenue utility following is an analysis of the change in net revenue comparing 2014 to 2013 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2013 net revenue', '$ 5524'], ['retail electric price', '135'], ['asset retirement obligation', '56'], ['volume/weather', '36'], ['miso deferral', '16'], ['net wholesale revenue', '-29 ( 29 )'], ['other', '-3 ( 3 )'], ['2014 net revenue', '$ 5735']]
the retail electric price variance is primarily due to : 2022 increases in the energy efficiency rider at entergy arkansas , as approved by the apsc , effective july 2013 and july 2014 .energy efficiency revenues are offset by costs included in other operation and maintenance expenses and have minimal effect on net income ; 2022 the effect of the apsc 2019s order in entergy arkansas 2019s 2013 rate case , including an annual base rate increase effective january 2014 offset by a miso rider to provide customers credits in rates for transmission revenue received through miso ; 2022 a formula rate plan increase at entergy mississippi , as approved by the mspc , effective september 2013 ; 2022 an increase in entergy mississippi 2019s storm damage rider , as approved by the mpsc , effective october 2013 .the increase in the storm damage rider is offset by other operation and maintenance expenses and has no effect on net income ; 2022 an annual base rate increase at entergy texas , effective april 2014 , as a result of the puct 2019s order in the september 2013 rate case ; and 2022 a formula rate plan increase at entergy louisiana , as approved by the lpsc , effective december 2014 .see note 2 to the financial statements for a discussion of rate proceedings .the asset retirement obligation affects net revenue because entergy records a regulatory debit or credit for the difference between asset retirement obligation-related expenses and trust earnings plus asset retirement obligation- related costs collected in revenue .the variance is primarily caused by increases in regulatory credits because of decreases in decommissioning trust earnings and increases in depreciation and accretion expenses and increases in regulatory credits to realign the asset retirement obligation regulatory assets with regulatory treatment .the volume/weather variance is primarily due to an increase of 3129 gwh , or 3% ( 3 % ) , in billed electricity usage primarily due to an increase in sales to industrial customers and the effect of more favorable weather on residential sales .the increase in industrial sales was primarily due to expansions , recovery of a major refining customer from an unplanned outage in 2013 , and continued moderate growth in the manufacturing sector .the miso deferral variance is primarily due to the deferral in 2014 of the non-fuel miso-related charges , as approved by the lpsc and the mpsc , partially offset by the deferral in april 2013 , as approved by the apsc , of costs incurred from march 2010 through december 2012 related to the transition and implementation of joining the miso .
|
what is the retail electric price as a percentage of net revenue in 2013?
|
2.44%
|
{
"answer": "2.44%",
"decimal": 0.024399999999999998,
"type": "percentage"
}
| |
the following table summarizes the total contractual amount of credit-related , off-balance sheet financial instruments at december 31 .amounts reported do not reflect participations to independent third parties. .
[['( in millions )', '2008', '2007'], ['indemnified securities financing', '$ 324590', '$ 558368'], ['liquidity asset purchase agreements', '28800', '35339'], ['unfunded commitments to extend credit', '20981', '17533'], ['standby letters of credit', '6061', '4711']]
approximately 81% ( 81 % ) of the unfunded commitments to extend credit expire within one year from the date of issue .since many of the commitments are expected to expire or renew without being drawn upon , the total commitment amounts do not necessarily represent future cash requirements .securities finance : on behalf of our customers , we lend their securities to creditworthy brokers and other institutions .we generally indemnify our customers for the fair market value of those securities against a failure of the borrower to return such securities .collateral funds received in connection with our securities finance services are held by us as agent and are not recorded in our consolidated statement of condition .we require the borrowers to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the fair market value of the securities borrowed .the borrowed securities are revalued daily to determine if additional collateral is necessary .in this regard , we held , as agent , cash and u.s .government securities with an aggregate fair value of $ 333.07 billion and $ 572.93 billion as collateral for indemnified securities on loan at december 31 , 2008 and 2007 , respectively , presented in the table above .the collateral held by us is invested on behalf of our customers .in certain cases , the collateral is invested in third-party repurchase agreements , for which we indemnify the customer against loss of the principal invested .we require the repurchase agreement counterparty to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the amount of the repurchase agreement .the indemnified repurchase agreements and the related collateral are not recorded in our consolidated statement of condition .of the collateral of $ 333.07 billion at december 31 , 2008 and $ 572.93 billion at december 31 , 2007 referenced above , $ 68.37 billion at december 31 , 2008 and $ 106.13 billion at december 31 , 2007 was invested in indemnified repurchase agreements .we held , as agent , cash and securities with an aggregate fair value of $ 71.87 billion and $ 111.02 billion as collateral for indemnified investments in repurchase agreements at december 31 , 2008 and december 31 , 2007 , respectively .asset-backed commercial paper program : in the normal course of our business , we provide liquidity and credit enhancement to an asset-backed commercial paper program sponsored and administered by us , described in note 12 .the commercial paper issuances and commitments of the commercial paper conduits to provide funding are supported by liquidity asset purchase agreements and back-up liquidity lines of credit , the majority of which are provided by us .in addition , we provide direct credit support to the conduits in the form of standby letters of credit .our commitments under liquidity asset purchase agreements and back-up lines of credit totaled $ 23.59 billion at december 31 , 2008 , and are included in the preceding table .our commitments under standby letters of credit totaled $ 1.00 billion at december 31 , 2008 , and are also included in the preceding table .legal proceedings : several customers have filed litigation claims against us , some of which are putative class actions purportedly on behalf of customers invested in certain of state street global advisors 2019 , or ssga 2019s , active fixed-income strategies .these claims related to investment losses in one or more of ssga 2019s strategies that included sub-prime investments .in 2007 , we established a reserve of approximately $ 625 million to address legal exposure associated with the under-performance of certain active fixed-income strategies managed by ssga and customer concerns as to whether the execution of these strategies was consistent with the customers 2019 investment intent .these strategies were adversely impacted by exposure to , and the lack of liquidity in .
|
what portion of the 2007 collateral was invested in indemnified repurchase agreements in 2007?
|
18.5%
|
{
"answer": "18.5%",
"decimal": 0.185,
"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 4 f o r m 1 0 - k notes to consolidated financial statements ( continued ) the components of accumulated other comprehensive income are as follows ( in millions ) : accumulated foreign foreign minimum unrealized other currency currency pension gains on comprehensive translation hedges liability securities income .
[['', 'foreign currency translation', 'foreign currency hedges', 'minimum pension liability', 'unrealized gains on securities', 'accumulated other comprehensive income'], ['beginning balance at january 1 2004', '$ 179.7', '$ -40.4 ( 40.4 )', '$ -0.6 ( 0.6 )', '$ 2013', '$ 138.7'], ['other comprehensive income ( loss )', '145.5', '-33.0 ( 33.0 )', '-0.3 ( 0.3 )', '2.4', '114.6'], ['balance at december 31 2004', '$ 325.2', '$ -73.4 ( 73.4 )', '$ -0.9 ( 0.9 )', '$ 2.4', '$ 253.3']]
accounting pronouncements 2013 in november 2004 , the no .123 ( r ) requires all share-based payments to employees , fasb issued fasb staff position ( 2018 2018fsp 2019 2019 ) 109-1 , 2018 2018application including stock options , to be expensed based on their fair of fasb statement no .109 , accounting for income taxes , to values .the company has disclosed the effect on net earnings the tax deduction on qualified production activities and earnings per share if the company had applied the fair provided by the american jobs creation act of 2004 2019 2019 and value recognition provisions of sfas 123 .sfas 123 ( r ) fsp 109-2 , 2018 2018accounting and disclosure guidance for the contains three methodologies for adoption : 1 ) adopt foreign earnings repatriation provision within the american sfas 123 ( r ) on the effective date for interim periods jobs creation act of 2004 2019 2019 .fsp 109-1 states that a thereafter , 2 ) adopt sfas 123 ( r ) on the effective date for company 2019s deduction under the american jobs creation act interim periods thereafter and restate prior interim periods of 2004 ( the 2018 2018act 2019 2019 ) should be accounted for as a special included in the fiscal year of adoption under the provisions of deduction in accordance with sfas no .109 and not as a tax sfas 123 , or 3 ) adopt sfas 123 ( r ) on the effective date for rate reduction .fsp 109-2 provides accounting and disclosure interim periods thereafter and restate all prior interim guidance for repatriation provisions included under the act .periods under the provisions of sfas 123 .the company has fsp 109-1 and fsp 109-2 were both effective upon issuance .not determined an adoption methodology .the company is in the adoption of these fsp 2019s did not have a material impact the process of assessing the impact that sfas 123 ( r ) will on the company 2019s financial position , results of operations or have on its financial position , results of operations and cash cash flows in 2004 .flows .sfas 123 ( r ) is effective for the company on july 1 , in november 2004 , the fasb issued sfas no .151 , 2005 .2018 2018inventory costs 2019 2019 to clarify the accounting for abnormal amounts of idle facility expense .sfas no .151 requires that 3 .acquisitions fixed overhead production costs be applied to inventory at centerpulse ag and incentive capital ag 2018 2018normal capacity 2019 2019 and any excess fixed overhead production costs be charged to expense in the period in which they were on october 2 , 2003 ( the 2018 2018closing date 2019 2019 ) , the company incurred .sfas no .151 is effective for fiscal years beginning closed its exchange offer for centerpulse , a global after june 15 , 2005 .the company does not expect sfas orthopaedic medical device company headquartered in no .151 to have a material impact on its financial position , switzerland that services the reconstructive joint , spine and results of operations , or cash flows .dental implant markets .the company also closed its in december 2004 , the fasb issued sfas no .153 , exchange offer for incentive , a company that , at the closing 2018 2018exchanges of nonmonetary assets 2019 2019 , which is effective for date , owned only cash and beneficially owned 18.3 percent of fiscal years beginning after june 15 , 2004 .the company does the issued centerpulse shares .the primary reason for not routinely engage in exchanges of nonmonetary assets ; as making the centerpulse and incentive exchange offers ( the such , sfas no .153 is not expected to have a material impact 2018 2018exchange offers 2019 2019 ) was to create a global leader in the on the company 2019s financial position , results of operations or design , development , manufacture and marketing of cash flows .orthopaedic reconstructive implants , including joint and in may 2004 , the fasb issued fsp 106-2 2018 2018accounting dental , spine implants , and trauma products .the strategic and disclosure requirements related to the medicare compatibility of the products and technologies of the prescription drug , improvement and modernization act of company and centerpulse is expected to provide significant 2003 2019 2019 , which is effective for the first interim or annual period earnings power and a strong platform from which it can beginning after june 15 , 2004 .the company does not expect actively pursue growth opportunities in the industry .for the to be eligible for the federal subsidy available pursuant to the company , centerpulse provides a unique platform for growth medicare prescription drug improvement and modernization and diversification in europe as well as in the spine and act of 2003 ; therefore , this staff position did not have a dental areas of the medical device industry .as a result of the material impact on the company 2019s results of operations , exchange offers , the company beneficially owned financial position or cash flow .98.7 percent of the issued centerpulse shares ( including the in december 2004 , the fasb issued sfas no .123 ( r ) , centerpulse shares owned by incentive ) and 99.9 percent of 2018 2018share-based payment 2019 2019 , which is a revision to sfas no .123 , the issued incentive shares on the closing date .2018 2018accounting for stock based compensation 2019 2019 .sfas .
|
what was the percentage change in accumulated other comprehensive income for 2004?
|
83%
|
{
"answer": "83%",
"decimal": 0.83,
"type": "percentage"
}
| |
56 / 57 management 2019s discussion and analysis of financial condition and results of operations junior subordinate deferrable interest debentures in june 2005 , we issued $ 100.0 a0million of trust preferred securities , which are reflected on the balance sheet as junior subordinate deferrable interest debentures .the proceeds were used to repay our revolving credit facility .the $ 100.0 a0million of junior subordi- nate deferrable interest debentures have a 30-year term ending july 2035 .they bear interest at a fixed rate of 5.61% ( 5.61 % ) for the first 10 years ending july 2015 .thereafter , the rate will float at three month libor plus 1.25% ( 1.25 % ) .the securities are redeemable at par .restrictive covenants the terms of the 2011 revolving credit facility and certain of our senior unsecured notes include certain restrictions and covenants which may limit , among other things , our ability to pay dividends ( as discussed below ) , make certain types of investments , incur additional indebtedness , incur liens and enter into negative pledge agreements and the disposition of assets , and which require compliance with financial ratios including our minimum tangible net worth , a maximum ratio of total indebtedness to total asset value , a minimum ratio of ebitda to fixed charges and a maximum ratio of unsecured indebtedness to unencumbered asset value .the dividend restriction referred to above provides that we will not during any time when we are in default , make distributions with respect to common stock or other equity interests , except to enable us to continue to qualify as a reit for federal income tax purposes .as of december a031 , 2011 and 2010 , we were in compli- ance with all such covenants .market rate risk we are exposed to changes in interest rates primarily from our floating rate borrowing arrangements .we use interest rate deriv- ative instruments to manage exposure to interest rate changes .a a0hypothetical 100 a0basis point increase in interest rates along the entire interest rate curve for 2011 and 2010 , would increase our annual interest cost by approximately $ 12.3 a0million and $ 11.0 a0mil- lion and would increase our share of joint venture annual interest cost by approximately $ 4.8 a0million and $ 6.7 a0million , respectively .we recognize all derivatives on the balance sheet at fair value .derivatives that are not hedges must be adjusted to fair value through income .if a derivative is a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earnings , or recognized in other comprehensive income until the hedged item is recognized in earnings .the ineffective portion of a derivative 2019s change in fair value is recognized immediately in earnings .approximately $ 4.8 a0billion of our long- term debt bore interest a0at fixed rates , and therefore the fair value of these instru- ments is affected by changes in the market interest rates .the interest rate on our variable rate debt and joint venture debt as of december a031 , 2011 ranged from libor plus 150 a0basis points to libor plus 350 a0basis points .contractual obligations combined aggregate principal maturities of mortgages and other loans payable , our 2011 revolving credit facility , senior unsecured notes ( net of discount ) , trust preferred securities , our share of joint venture debt , including as- of-right extension options , estimated interest expense ( based on weighted average interest rates for the quarter ) , and our obligations under our capital lease and ground leases , as of december a031 , 2011 are as follows ( in thousands ) : .
[['', '2012', '2013', '2014', '2015', '2016', 'thereafter', 'total'], ['property mortgages', '$ 52443', '$ 568649', '$ 647776', '$ 270382', '$ 556400', '$ 2278190', '$ 4373840'], ['revolving credit facility', '2014', '2014', '2014', '2014', '350000', '2014', '350000'], ['trust preferred securities', '2014', '2014', '2014', '2014', '2014', '100000', '100000'], ['senior unsecured notes', '119423', '2014', '98578', '657', '274804', '777194', '1270656'], ['capital lease', '1555', '1555', '1555', '1592', '1707', '42351', '50315'], ['ground leases', '33429', '33429', '33429', '33429', '33533', '615450', '782699'], ['estimated interest expense', '312672', '309280', '269286', '244709', '212328', '470359', '1818634'], ['joint venture debt', '176457', '93683', '123983', '102476', '527814', '800102', '1824515'], ['total', '$ 695979', '$ 1006596', '$ 1174607', '$ 653245', '$ 1956586', '$ 5083646', '$ 10570659']]
.
|
in 2011 what was the percent of the capital lease that was due in 2013
|
3.1%
|
{
"answer": "3.1%",
"decimal": 0.031,
"type": "percentage"
}
| |
part ii , item 7 until maturity , effectively making this a us dollar denominated debt on which schlumberger will pay interest in us dollars at a rate of 4.74% ( 4.74 % ) .the proceeds from these notes were used to repay commercial paper borrowings .0160 on april 20 , 2006 , the schlumberger board of directors approved a share repurchase program of up to 40 million shares of common stock to be acquired in the open market before april 2010 , subject to market conditions .this program was completed during the second quarter of 2008 .on april 17 , 2008 , the schlumberger board of directors approved an $ 8 billion share repurchase program for shares of schlumberger common stock , to be acquired in the open market before december 31 , 2011 , of which $ 1.43 billion had been repurchased as of december 31 , 2009 .the following table summarizes the activity under these share repurchase programs during 2009 , 2008 and ( stated in thousands except per share amounts and prices ) total cost of shares purchased total number of shares purchased average price paid per share .
[['', 'total cost of shares purchased', 'total number of shares purchased', 'average price paid per share'], ['2009', '$ 500097', '7825.0', '$ 63.91'], ['2008', '$ 1818841', '21064.7', '$ 86.35'], ['2007', '$ 1355000', '16336.1', '$ 82.95']]
0160 cash flow provided by operations was $ 5.3 billion in 2009 , $ 6.9 billion in 2008 and $ 6.3 billion in 2007 .the decline in cash flow from operations in 2009 as compared to 2008 was primarily driven by the decrease in net income experienced in 2009 and the significant pension plan contributions made during 2009 , offset by an improvement in working capital requirements .the improvement in 2008 as compared to 2007 was driven by the net income increase experienced in 2008 offset by required investments in working capital .the reduction in cash flows experienced by some of schlumberger 2019s customers as a result of global economic conditions could have significant adverse effects on their financial condition .this could result in , among other things , delay in , or nonpayment of , amounts that are owed to schlumberger , which could have a material adverse effect on schlumberger 2019s results of operations and cash flows .at times in recent quarters , schlumberger has experienced delays in payments from certain of its customers .schlumberger operates in approximately 80 countries .at december 31 , 2009 , only three of those countries individually accounted for greater than 5% ( 5 % ) of schlumberger 2019s accounts receivable balance of which only one represented greater than 0160 during 2008 and 2007 , schlumberger announced that its board of directors had approved increases in the quarterly dividend of 20% ( 20 % ) and 40% ( 40 % ) , respectively .total dividends paid during 2009 , 2008 and 2007 were $ 1.0 billion , $ 964 million and $ 771 million , respectively .0160 capital expenditures were $ 2.4 billion in 2009 , $ 3.7 billion in 2008 and $ 2.9 billion in 2007 .capital expenditures in 2008 and 2007 reflected the record activity levels experienced in those years .the decrease in capital expenditures in 2009 as compared to 2008 is primarily due to the significant activity decline during 2009 .oilfield services capital expenditures are expected to approach $ 2.4 billion for the full year 2010 as compared to $ 1.9 billion in 2009 and $ 3.0 billion in 2008 .westerngeco capital expenditures are expected to approach $ 0.3 billion for the full year 2010 as compared to $ 0.5 billion in 2009 and $ 0.7 billion in 2008. .
|
by how much did the average price per share decrease from 2007 to 2009?
|
-23%
|
{
"answer": "-23%",
"decimal": -0.23,
"type": "percentage"
}
| |
through the certegy merger , the company has an obligation to service $ 200 million ( aggregate principal amount ) of unsecured 4.75% ( 4.75 % ) fixed-rate notes due in 2008 .the notes were recorded in purchase accounting at a discount of $ 5.7 million , which is being amortized over the term of the notes .the notes accrue interest at a rate of 4.75% ( 4.75 % ) per year , payable semi-annually in arrears on each march 15 and september 15 .on april 11 , 2005 , fis entered into interest rate swap agreements which have effectively fixed the interest rate at approximately 5.4% ( 5.4 % ) through april 2008 on $ 350 million of the term loan facilities ( or its replacement debt ) and at approximately 5.2% ( 5.2 % ) through april 2007 on an additional $ 350 million of the term loan .the company has designated these interest rate swaps as cash flow hedges in accordance with sfas no .133 .the estimated fair value of the cash flow hedges results in an asset to the company of $ 4.9 million and $ 5.2 million , as of december 31 , 2006 and december 31 , 2005 , respectively , which is included in the accompanying consolidated balance sheets in other noncurrent assets and as a component of accumulated other comprehensive earnings , net of deferred taxes .a portion of the amount included in accumulated other comprehensive earnings is reclassified into interest expense as a yield adjustment as interest payments are made on the term loan facilities .the company 2019s existing cash flow hedges are highly effective and there is no current impact on earnings due to hedge ineffectiveness .it is the policy of the company to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes .principal maturities at december 31 , 2006 ( and at december 31 , 2006 after giving effect to the debt refinancing completed on january 18 , 2007 ) for the next five years and thereafter are as follows ( in thousands ) : december 31 , january 18 , 2007 refinancing .
[['', 'december 31 2006', 'january 18 2007 refinancing'], ['2007', '$ 61661', '$ 96161'], ['2008', '257541', '282041'], ['2009', '68129', '145129'], ['2010', '33586', '215586'], ['2011', '941875', '165455'], ['thereafter', '1646709', '2105129'], ['total', '$ 3009501', '$ 3009501']]
fidelity national information services , inc .and subsidiaries and affiliates consolidated and combined financial statements notes to consolidated and combined financial statements 2014 ( continued ) .
|
what was the change , in thousands , of principal maturities due in 2007 after the the debt refinancing completed on january 18 , 2007?
|
-34500
|
{
"answer": "-34500",
"decimal": -34500,
"type": "float"
}
| |
through current cash balances and cash from oper- ations .additionally , the company has existing credit facilities totaling $ 2.5 billion .the company was in compliance with all its debt covenants at december 31 , 2012 .the company 2019s financial covenants require the maintenance of a minimum net worth of $ 9 billion and a total debt-to- capital ratio of less than 60% ( 60 % ) .net worth is defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock plus any cumulative goodwill impairment charges .the calcu- lation also excludes accumulated other compre- hensive income/loss and nonrecourse financial liabilities of special purpose entities .the total debt- to-capital ratio is defined as total debt divided by the sum of total debt plus net worth .at december 31 , 2012 , international paper 2019s net worth was $ 13.9 bil- lion , and the total-debt-to-capital ratio was 42% ( 42 % ) .the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows .funding decisions will be guided by our capi- tal structure planning objectives .the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense .the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors .maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy .at december 31 , 2012 , the company held long-term credit ratings of bbb ( stable outlook ) and baa3 ( stable outlook ) by s&p and moody 2019s , respectively .contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2012 , were as follows: .
[['in millions', '2013', '2014', '2015', '2016', '2017', 'thereafter'], ['maturities of long-term debt ( a )', '$ 444', '$ 708', '$ 479', '$ 571', '$ 216', '$ 7722'], ['debt obligations with right of offset ( b )', '2014', '2014', '2014', '5173', '2014', '2014'], ['lease obligations', '198', '136', '106', '70', '50', '141'], ['purchase obligations ( c )', '3213', '828', '722', '620', '808', '2654'], ['total ( d )', '$ 3855', '$ 1672', '$ 1307', '$ 6434', '$ 1074', '$ 10517']]
( a ) total debt includes scheduled principal payments only .( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to effect , a legal right to offset these obligations with investments held in the entities .accordingly , in its con- solidated balance sheet at december 31 , 2012 , international paper has offset approximately $ 5.2 billion of interests in the entities against this $ 5.2 billion of debt obligations held by the entities ( see note 11 variable interest entities and preferred securities of subsidiaries on pages 69 through 72 in item 8 .financial statements and supplementary data ) .( c ) includes $ 3.6 billion relating to fiber supply agreements entered into at the time of the 2006 transformation plan forest- land sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business .( d ) not included in the above table due to the uncertainty as to the amount and timing of the payment are unrecognized tax bene- fits of approximately $ 620 million .we consider the undistributed earnings of our for- eign subsidiaries as of december 31 , 2012 , to be indefinitely reinvested and , accordingly , no u.s .income taxes have been provided thereon .as of december 31 , 2012 , the amount of cash associated with indefinitely reinvested foreign earnings was approximately $ 840 million .we do not anticipate the need to repatriate funds to the united states to sat- isfy domestic liquidity needs arising in the ordinary course of business , including liquidity needs asso- ciated with our domestic debt service requirements .pension obligations and funding at december 31 , 2012 , the projected benefit obliga- tion for the company 2019s u.s .defined benefit plans determined under u.s .gaap was approximately $ 4.1 billion higher than the fair value of plan assets .approximately $ 3.7 billion of this amount relates to plans that are subject to minimum funding require- ments .under current irs funding rules , the calcu- lation of minimum funding requirements differs from the calculation of the present value of plan benefits ( the projected benefit obligation ) for accounting purposes .in december 2008 , the worker , retiree and employer recovery act of 2008 ( wera ) was passed by the u.s .congress which provided for pension funding relief and technical corrections .funding contributions depend on the funding method selected by the company , and the timing of its implementation , as well as on actual demo- graphic data and the targeted funding level .the company continually reassesses the amount and timing of any discretionary contributions and elected to make voluntary contributions totaling $ 44 million and $ 300 million for the years ended december 31 , 2012 and 2011 , respectively .at this time , we expect that required contributions to its plans in 2013 will be approximately $ 31 million , although the company may elect to make future voluntary contributions .the timing and amount of future contributions , which could be material , will depend on a number of factors , including the actual earnings and changes in values of plan assets and changes in interest rates .ilim holding s.a .shareholder 2019s agreement in october 2007 , in connection with the for- mation of the ilim holding s.a .joint venture , international paper entered into a share- holder 2019s agreement that includes provisions relating to the reconciliation of disputes among the partners .this agreement provides that at .
|
what percentage of contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2012 is short term for the year 2013?
|
88%
|
{
"answer": "88%",
"decimal": 0.88,
"type": "percentage"
}
| |
2022 secondary market same store communities are generally communities in markets with populations of more than 1 million but less than 1% ( 1 % ) of the total public multifamily reit units or markets with populations of less than 1 million that we have owned and have been stabilized for at least a full 12 months .2022 non-same store communities and other includes recent acquisitions , communities in development or lease-up , communities that have been identified for disposition , and communities that have undergone a significant casualty loss .also included in non-same store communities are non-multifamily activities .on the first day of each calendar year , we determine the composition of our same store operating segments for that year as well as adjust the previous year , which allows us to evaluate full period-over-period operating comparisons .an apartment community in development or lease-up is added to the same store portfolio on the first day of the calendar year after it has been owned and stabilized for at least a full 12 months .communities are considered stabilized after achieving 90% ( 90 % ) occupancy for 90 days .communities that have been identified for disposition are excluded from the same store portfolio .all properties acquired from post properties in the merger remained in the non-same store and other operating segment during 2017 , as the properties were recent acquisitions and had not been owned and stabilized for at least 12 months as of january 1 , 2017 .for additional information regarding our operating segments , see note 14 to the consolidated financial statements included elsewhere in this annual report on form 10-k .acquisitions one of our growth strategies is to acquire apartment communities that are located in various large or secondary markets primarily throughout the southeast and southwest regions of the united states .acquisitions , along with dispositions , help us achieve and maintain our desired product mix , geographic diversification and asset allocation .portfolio growth allows for maximizing the efficiency of the existing management and overhead structure .we have extensive experience in the acquisition of multifamily communities .we will continue to evaluate opportunities that arise , and we will utilize this strategy to increase our number of apartment communities in strong and growing markets .we acquired the following apartment communities during the year ended december 31 , 2017: .
[['community', 'market', 'units', 'closing date'], ['charlotte at midtown', 'nashville tn', '279', 'march 16 2017'], ['acklen west end', 'nashville tn', '320', 'december 28 2017']]
dispositions we sell apartment communities and other assets that no longer meet our long-term strategy or when market conditions are favorable , and we redeploy the proceeds from those sales to acquire , develop and redevelop additional apartment communities and rebalance our portfolio across or within geographic regions .dispositions also allow us to realize a portion of the value created through our investments and provide additional liquidity .we are then able to redeploy the net proceeds from our dispositions in lieu of raising additional capital .in deciding to sell an apartment community , we consider current market conditions and generally solicit competing bids from unrelated parties for these individual assets , considering the sales price and other key terms of each proposal .we also consider portfolio dispositions when such a structure is useful to maximize proceeds and efficiency of execution .during the year ended december 31 , 2017 , we disposed of five multifamily properties totaling 1760 units and four land parcels totaling approximately 23 acres .development as another part of our growth strategy , we invest in a limited number of development projects .development activities may be conducted through wholly-owned affiliated companies or through joint ventures with unaffiliated parties .fixed price construction contracts are signed with unrelated parties to minimize construction risk .we typically manage the leasing portion of the project as units become available for lease .we may also engage in limited expansion development opportunities on existing communities in which we typically serve as the developer .while we seek opportunistic new development investments offering attractive long-term investment returns , we intend to maintain a total development commitment that we consider modest in relation to our total balance sheet and investment portfolio .during the year ended december 31 , 2017 , we incurred $ 170.1 million in development costs and completed 7 development projects. .
|
during the year ended december 31 , 2017 , what was the ratio of the units disposed to the units acquired
|
2.94
|
{
"answer": "2.94",
"decimal": 2.94,
"type": "float"
}
|
for the year ended december 31 , 2017 , the company disposed of 2.94 units for each unit acquired
|
12 .brokerage receivables and brokerage payables citi has receivables and payables for financial instruments sold to and purchased from brokers , dealers and customers , which arise in the ordinary course of business .citi is exposed to risk of loss from the inability of brokers , dealers or customers to pay for purchases or to deliver the financial instruments sold , in which case citi would have to sell or purchase the financial instruments at prevailing market prices .credit risk is reduced to the extent that an exchange or clearing organization acts as a counterparty to the transaction and replaces the broker , dealer or customer in question .citi seeks to protect itself from the risks associated with customer activities by requiring customers to maintain margin collateral in compliance with regulatory and internal guidelines .margin levels are monitored daily , and customers deposit additional collateral as required .where customers cannot meet collateral requirements , citi may liquidate sufficient underlying financial instruments to bring the customer into compliance with the required margin level .exposure to credit risk is impacted by market volatility , which may impair the ability of clients to satisfy their obligations to citi .credit limits are established and closely monitored for customers and for brokers and dealers engaged in forwards , futures and other transactions deemed to be credit sensitive .brokerage receivables and brokerage payables consisted of the following: .
[['in millions of dollars', 'december 31 , 2017', 'december 31 , 2016'], ['receivables from customers', '$ 19215', '$ 10374'], ['receivables from brokers dealers and clearing organizations', '19169', '18513'], ['total brokerage receivables ( 1 )', '$ 38384', '$ 28887'], ['payables to customers', '$ 38741', '$ 37237'], ['payables to brokers dealers and clearing organizations', '22601', '19915'], ['total brokerage payables ( 1 )', '$ 61342', '$ 57152']]
payables to brokers , dealers and clearing organizations 22601 19915 total brokerage payables ( 1 ) $ 61342 $ 57152 ( 1 ) includes brokerage receivables and payables recorded by citi broker- dealer entities that are accounted for in accordance with the aicpa accounting guide for brokers and dealers in securities as codified in asc 940-320. .
|
as of december 31 2017 what is the ratio of receivables from brokers dealers and clearing organizations to payables to brokers dealers and clearing organizations?
|
.85
|
{
"answer": ".85",
"decimal": 0.85,
"type": "float"
}
|
systemically if there is a large market disruption with less receivables from the brokerage industry than payables it is disadvantageous
|
adjusted net income of $ 4.6 billion translated into adjusted earnings of $ 5.79 per diluted share , a best- ever performance .f0b7 freight revenues 2013 our freight revenues increased 7% ( 7 % ) year-over-year to $ 19.8 billion driven by volume growth of 2% ( 2 % ) , higher fuel surcharge revenue , and core pricing gains .growth in frac sand , coal , and intermodal shipments more than offset declines in grain , crude oil , finished vehicles , and rock shipments .f0b7 fuel prices 2013 our average price of diesel fuel in 2017 was $ 1.81 per gallon , an increase of 22% ( 22 % ) from 2016 , as both crude oil and conversion spreads between crude oil and diesel increased in 2017 .the higher price resulted in increased operating expenses of $ 334 million ( excluding any impact from year- over-year volume growth ) .gross-ton miles increased 5% ( 5 % ) , which also drove higher fuel expense .our fuel consumption rate , computed as gallons of fuel consumed divided by gross ton-miles in thousands , improved 2% ( 2 % ) .f0b7 free cash flow 2013 cash generated by operating activities totaled $ 7.2 billion , yielding free cash flow of $ 2.2 billion after reductions of $ 3.1 billion for cash used in investing activities and $ 2 billion in dividends , which included a 10% ( 10 % ) increase in our quarterly dividend per share from $ 0.605 to $ 0.665 declared and paid in the fourth quarter of 2017 .free cash flow is defined as cash provided by operating activities less cash used in investing activities and dividends paid .free cash flow is not considered a financial measure under gaap by sec regulation g and item 10 of sec regulation s-k and may not be defined and calculated by other companies in the same manner .we believe free cash flow is important to management and investors in evaluating our financial performance and measures our ability to generate cash without additional external financings .free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities .the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : .
[['millions', '2017', '2016', '2015'], ['cash provided by operating activities', '$ 7230', '$ 7525', '$ 7344'], ['cash used in investing activities', '-3086 ( 3086 )', '-3393 ( 3393 )', '-4476 ( 4476 )'], ['dividends paid', '-1982 ( 1982 )', '-1879 ( 1879 )', '-2344 ( 2344 )'], ['free cash flow', '$ 2162', '$ 2253', '$ 524']]
2018 outlook f0b7 safety 2013 operating a safe railroad benefits all our constituents : our employees , customers , shareholders and the communities we serve .we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , training and employee engagement , quality control , and targeted capital investments .we will continue using and expanding the deployment of total safety culture and courage to care throughout our operations , which allows us to identify and implement best practices for employee and operational safety .we will continue our efforts to increase detection of rail defects ; improve or close crossings ; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs ( including risk assessment strategies ) , industry programs and local community activities across our network .f0b7 network operations 2013 in 2018 , we will continue to align resources with customer demand , maintain an efficient network , and ensure surge capability of our assets .f0b7 fuel prices 2013 fuel price projections for crude oil and natural gas continue to fluctuate in the current environment .we again could see volatile fuel prices during the year , as they are sensitive to global and u.s .domestic demand , refining capacity , geopolitical events , weather conditions and other factors .as prices fluctuate , there will be a timing impact on earnings , as our fuel surcharge programs trail increases or decreases in fuel price by approximately two months .lower fuel prices could have a positive impact on the economy by increasing consumer discretionary spending that potentially could increase demand for various consumer products that we transport .alternatively , lower fuel prices could likely have a negative impact on other commodities such as coal and domestic drilling-related shipments. .
|
in 2017 what was the ratio of the cash provided by operating activities to the free cash flow
|
29.9%
|
{
"answer": "29.9%",
"decimal": 0.299,
"type": "percentage"
}
| |
management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) corporate and other expenses decreased slightly during 2012 by $ 4.7 to $ 137.3 compared to 2011 , primarily due to lower office and general expenses , partially offset by an increase in temporary help to support our information-technology system-upgrade initiatives .liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity , capital resources and uses of capital. .
[['cash flow data', 'years ended december 31 , 2013', 'years ended december 31 , 2012', 'years ended december 31 , 2011'], ['net income adjusted to reconcile net income to net cashprovided by operating activities1', '$ 598.4', '$ 697.2', '$ 735.7'], ['net cash used in working capital b2', '-9.6 ( 9.6 )', '-293.2 ( 293.2 )', '-359.4 ( 359.4 )'], ['changes in other non-current assets and liabilities using cash', '4.1', '-46.8 ( 46.8 )', '-102.8 ( 102.8 )'], ['net cash provided by operating activities', '$ 592.9', '$ 357.2', '$ 273.5'], ['net cash used in investing activities', '-224.5 ( 224.5 )', '-210.2 ( 210.2 )', '-58.8 ( 58.8 )'], ['net cash ( used in ) provided by financing activities', '-1212.3 ( 1212.3 )', '131.3', '-541.0 ( 541.0 )']]
1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets , amortization of restricted stock and other non-cash compensation , non-cash loss related to early extinguishment of debt , and deferred income taxes .2 reflects changes in accounts receivable , expenditures billable to clients , other current assets , accounts payable and accrued liabilities .operating activities net cash provided by operating activities during 2013 was $ 592.9 , which was an increase of $ 235.7 as compared to 2012 , primarily as a result of an improvement in working capital usage of $ 283.6 , offset by a decrease in net income .due to the seasonality of our business , we typically generate cash from working capital in the second half of a year and use cash from working capital in the first half of a year , with the largest impacts in the first and fourth quarters .the improvement in working capital in 2013 was impacted by our media businesses and an ongoing focus on working capital management at our agencies .net cash provided by operating activities during 2012 was $ 357.2 , which was an increase of $ 83.7 as compared to 2011 , primarily as a result of a decrease in working capital usage of $ 66.2 .the net working capital usage in 2012 was primarily impacted by our media businesses .the timing of media buying on behalf of our clients affects our working capital and operating cash flow .in most of our businesses , our agencies enter into commitments to pay production and media costs on behalf of clients .to the extent possible we pay production and media charges after we have received funds from our clients .the amounts involved substantially exceed our revenues , and primarily affect the level of accounts receivable , expenditures billable to clients , accounts payable and accrued liabilities .our assets include both cash received and accounts receivable from clients for these pass-through arrangements , while our liabilities include amounts owed on behalf of clients to media and production suppliers .our accrued liabilities are also affected by the timing of certain other payments .for example , while annual cash incentive awards are accrued throughout the year , they are generally paid during the first quarter of the subsequent year .investing activities net cash used in investing activities during 2013 primarily relates to payments for capital expenditures and acquisitions .capital expenditures of $ 173.0 relate primarily to computer hardware and software and leasehold improvements .we made payments of $ 61.5 related to acquisitions completed during 2013. .
|
what is the net change in cash in 2013?
|
-843.9
|
{
"answer": "-843.9",
"decimal": -843.9,
"type": "float"
}
| |
off-balance-sheet arrangements we have a number of off-balance-sheet investments , including joint ven- tures and debt and preferred equity investments .these investments all have varying ownership structures .substantially all of our joint venture arrangements are accounted for under the equity method of accounting as we have the ability to exercise significant influence , but not control over the operating and financial decisions of these joint venture arrange- ments .our off-balance-sheet arrangements are discussed in note a0 5 , 201cdebt and preferred equity investments 201d and note a0 6 , 201cinvestments in unconsolidated joint ventures 201d in the accompanying consolidated finan- cial statements .additional information about the debt of our unconsoli- dated joint ventures is included in 201ccontractual obligations 201d below .capital expenditures we estimate that , for the year ending december a031 , 2011 , we will incur approximately $ 120.5 a0 million of capital expenditures , which are net of loan reserves ( including tenant improvements and leasing commis- sions ) , on existing wholly-owned properties , and that our share of capital expenditures at our joint venture properties , net of loan reserves , will be approximately $ 23.4 a0million .we expect to fund these capital expen- ditures with operating cash flow , additional property level mortgage financings and cash on hand .future property acquisitions may require substantial capital investments for refurbishment and leasing costs .we expect that these financing requirements will be met in a similar fashion .we believe that we will have sufficient resources to satisfy our capital needs during the next 12-month period .thereafter , we expect our capital needs will be met through a combination of cash on hand , net cash provided by operations , borrowings , potential asset sales or addi- tional equity or debt issuances .above provides that , except to enable us to continue to qualify as a reit for federal income tax purposes , we will not during any four consecu- tive fiscal quarters make distributions with respect to common stock or other equity interests in an aggregate amount in excess of 95% ( 95 % ) of funds from operations for such period , subject to certain other adjustments .as of december a0 31 , 2010 and 2009 , we were in compliance with all such covenants .market rate risk we are exposed to changes in interest rates primarily from our floating rate borrowing arrangements .we use interest rate derivative instruments to manage exposure to interest rate changes .a hypothetical 100 basis point increase in interest rates along the entire interest rate curve for 2010 and 2009 , would increase our annual interest cost by approximately $ 11.0 a0mil- lion and $ 15.2 a0million and would increase our share of joint venture annual interest cost by approximately $ 6.7 a0million and $ 6.4 a0million , respectively .we recognize all derivatives on the balance sheet at fair value .derivatives that are not hedges must be adjusted to fair value through income .if a derivative is a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earnings , or recognized in other comprehensive income until the hedged item is recognized in earnings .the ineffective portion of a deriva- tive 2019s change in fair value is recognized immediately in earnings .approximately $ 4.1 a0billion of our long-term debt bore interest at fixed rates , and therefore the fair value of these instruments is affected by changes in the market interest rates .the interest rate on our variable rate debt and joint venture debt as of december a031 , 2010 ranged from libor plus 75 basis points to libor plus 400 basis points .contractual obligations combined aggregate principal maturities of mortgages and other loans payable , our 2007 unsecured revolving credit facility , senior unsecured notes ( net of discount ) , trust preferred securities , our share of joint venture debt , including as-of-right extension options , estimated interest expense ( based on weighted average interest rates for the quarter ) , and our obligations under our capital and ground leases , as of december a031 , 2010 , are as follows ( in thousands ) : .
[['', '2011', '2012', '2013', '2014', '2015', 'thereafter', 'total'], ['property mortgages', '$ 246615', '$ 143646', '$ 656863', '$ 208025', '$ 260433', '$ 1884885', '$ 3400467'], ['revolving credit facility', '2014', '650000', '2014', '2014', '2014', '2014', '650000'], ['trust preferred securities', '2014', '2014', '2014', '2014', '2014', '100000', '100000'], ['senior unsecured notes', '84823', '123171', '2014', '98578', '657', '793316', '1100545'], ['capital lease', '1555', '1555', '1555', '1555', '1593', '44056', '51869'], ['ground leases', '28929', '28179', '28179', '28179', '28179', '552421', '694066'], ['estimated interest expense', '265242', '245545', '221161', '197128', '177565', '355143', '1461784'], ['joint venture debt', '207738', '61491', '41415', '339184', '96786', '857305', '1603919'], ['total', '$ 834902', '$ 1253587', '$ 949173', '$ 872649', '$ 565213', '$ 4587126', '$ 9062650']]
48 sl green realty corp .2010 annual report management 2019s discussion and analysis of financial condition and results of operations .
|
what percentage of 2013 obligations was the 2013 capital lease obligation
|
0.16%
|
{
"answer": "0.16%",
"decimal": 0.0016,
"type": "percentage"
}
| |
fiscal 2011 , primarily because of increased business levels , an increase in revenue related to the sale and lease of our hardware products and increased revenue recognized from bookings in prior periods .maintenance revenue decreased on a standalone basis during fiscal 2012 as compared to fiscal 2011 , primarily because of the increased allocation to product revenue due to the gradual decline in the average duration of our time-based software license arrangements over the last three years .product and maintenance revenue increased during fiscal 2011 , as compared to fiscal 2010 , due to reasons noted above and also due to the increase in revenue from the denali business which we acquired in the second quarter of 2010 .we expect the aggregate of product and maintenance revenue will increase during fiscal 2013 due to increases in the revenue from our software and ip products , partially offset by an expected decrease in revenue from our hardware products .services revenue decreased during fiscal 2012 , as compared to fiscal 2011 , primarily because certain of our design services engineers have been redeployed to internal research and development projects and to assist with pre-sales activities .services revenue increased during fiscal 2011 , as compared to fiscal 2010 , primarily because of cash collections from customers on orders fulfilled in years prior to 2011 for which revenue was recognized in fiscal 2011 upon receipt of cash payment , and because of higher utilization rates for our services personnel .we expect services revenue to decrease during fiscal 2013 , as compared to fiscal 2012 , as we expect certain of our design services engineers will continue to work on internal research and development projects , primarily related or our design ip and vip activities .revenue by product group the following table shows the percentage of product and related maintenance revenue contributed by each of our five product groups , and services and other during fiscal 2012 , 2011 and 2010: .
[['', '2012', '2011', '2010'], ['functional verification hardware and ip', '30% ( 30 % )', '30% ( 30 % )', '24% ( 24 % )'], ['custom ic design', '23% ( 23 % )', '22% ( 22 % )', '26% ( 26 % )'], ['digital ic design', '23% ( 23 % )', '22% ( 22 % )', '23% ( 23 % )'], ['system interconnect design', '9% ( 9 % )', '9% ( 9 % )', '9% ( 9 % )'], ['design for manufacturing', '6% ( 6 % )', '7% ( 7 % )', '7% ( 7 % )'], ['services and other', '9% ( 9 % )', '10% ( 10 % )', '11% ( 11 % )'], ['total', '100% ( 100 % )', '100% ( 100 % )', '100% ( 100 % )']]
as described in note 2 in the notes to consolidated financial statements , certain of our licensing arrangements allow customers the ability to remix among software products .additionally , we have arrangements with customers that include a combination of our products , with the actual product selection and number of licensed users to be determined at a later date .for these arrangements , we estimate the allocation of the revenue to product groups based upon the expected usage of our products .the actual usage of our products by these customers may differ and , if that proves to be the case , the revenue allocation in the table above would differ .the changes in the percentage of revenue contributed by the functional verification , hardware and ip product group are generally related to changes in revenue related to our hardware products. .
|
what is the difference in the percentage of product and related maintenance revenue contributed by the custom ic design product group in 2010 versus 2012?
|
-3%
|
{
"answer": "-3%",
"decimal": -0.03,
"type": "percentage"
}
| |
marathon oil corporation notes to consolidated financial statements ( g ) this obligation relates to a lease of equipment at united states steel 2019s clairton works cokemaking facility in pennsylvania .we are the primary obligor under this lease .under the financial matters agreement , united states steel has assumed responsibility for all obligations under this lease .this lease is an amortizing financing with a final maturity of 2012 .( h ) these notes are senior secured notes of marathon oil canada corporation .the notes are secured by substantially all of marathon oil canada corporation 2019s assets .in january 2008 , we provided a full and unconditional guarantee covering the payment of all principal and interest due under the senior notes .( i ) these obligations as of december 31 , 2009 include $ 36 million related to assets under construction at that date for which a capital lease will commence upon completion of construction .the amounts currently reported are based upon the percent of construction completed as of december 31 , 2009 and therefore do not reflect future minimum lease obligations of $ 164 million related to the asset .( j ) payments of long-term debt for the years 2010 - 2014 are $ 102 million , $ 246 million , $ 1492 million , $ 287 million and $ 802 million .united steel is due to pay $ 17 million in 2010 , $ 161 million in 2011 , $ 19 million in 2012 , and $ 11 for year 2014 .( k ) in the event of a change in control , as defined in the related agreements , debt obligations totaling $ 662 million at december 31 , 2009 , may be declared immediately due and payable .( l ) see note 16 for information on interest rate swaps .20 .asset retirement obligations the following summarizes the changes in asset retirement obligations : ( in millions ) 2009 2008 .
[['( in millions )', '2009', '2008'], ['asset retirement obligations as of january 1', '$ 965', '$ 1134'], ['liabilities incurred including acquisitions', '14', '30'], ['liabilities settled', '-65 ( 65 )', '-94 ( 94 )'], ['accretion expense ( included in depreciation depletion and amortization )', '64', '66'], ['revisions to previous estimates', '124', '24'], ['held for sale', '-', '-195 ( 195 )'], ['asset retirement obligations as of december 31 ( a )', '$ 1102', '$ 965']]
asset retirement obligations as of december 31 ( a ) $ 1102 $ 965 ( a ) includes asset retirement obligation of $ 3 and $ 2 million classified as short-term at december 31 , 2009 , and 2008. .
|
what were total payments of long-term debt for the years 2010 - 2014 , in $ millions?
|
2929
|
{
"answer": "2929",
"decimal": 2929,
"type": "float"
}
| |
table of contents company stock performance the following graph shows a comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the dow jones u.s .technology supersector index and the s&p information technology index for the five years ended september 27 , 2014 .the company has added the s&p information technology index to the graph to capture the stock performance of companies whose products and services relate to those of the company .the s&p information technology index replaces the s&p computer hardware index , which is no longer tracked by s&p .the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the dow jones u.s .technology supersector index and the s&p information technology index as of the market close on september 25 , 2009 .note that historic stock price performance is not necessarily indicative of future stock price performance .copyright a9 2014 s&p , a division of the mcgraw-hill companies inc .all rights reserved .copyright a9 2014 dow jones & co .all rights reserved .apple inc .| 2014 form 10-k | 23 * $ 100 invested on 9/25/09 in stock or index , including reinvestment of dividends .data points are the last day of each fiscal year for the company 2019s common stock and september 30th for indexes .september september september september september september .
[['', 'september 2009', 'september 2010', 'september 2011', 'september 2012', 'september 2013', 'september 2014'], ['apple inc .', '$ 100', '$ 160', '$ 222', '$ 367', '$ 272', '$ 407'], ['s&p 500 index', '$ 100', '$ 110', '$ 111', '$ 145', '$ 173', '$ 207'], ['dow jones u.s . technology supersector index', '$ 100', '$ 112', '$ 115', '$ 150', '$ 158', '$ 205'], ['s&p information technology index', '$ 100', '$ 111', '$ 115', '$ 152', '$ 163', '$ 210']]
.
|
in what year did the s&p 500 have the greatest return?
|
2014
|
{
"answer": "2014",
"decimal": 2014,
"type": "float"
}
| |
dividends for a summary of the cash dividends paid on citi 2019s outstanding common stock during 2009 and 2010 , see note 33 to the consolidated financial statements .for so long as the u.s .government holds any citigroup trust preferred securities acquired pursuant to the exchange offers consummated in 2009 , citigroup has agreed not to pay a quarterly common stock dividend exceeding $ 0.01 per quarter , subject to certain customary exceptions .further , any dividend on citi 2019s outstanding common stock would need to be made in compliance with citi 2019s obligations to any remaining outstanding citigroup preferred stock .performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citigroup 2019s common stock with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period extending through december 31 , 2010 .the graph and table assume that $ 100 was invested on december 31 , 2005 in citigroup 2019s common stock , the s&p 500 index and the s&p financial index and that all dividends were reinvested .citigroup s&p 500 index s&p financial index comparison of five-year cumulative total return for the years ended 2006 2007 2008 2009 2010 .
[['december 31,', 'citigroup', 's&p 500 index', 's&p financial index'], ['2006', '119.55', '115.79', '119.19'], ['2007', '66.10', '122.15', '96.98'], ['2008', '15.88', '76.96', '43.34'], ['2009', '7.85', '97.33', '50.80'], ['2010', '11.22', '111.99', '56.96']]
.
|
what was the percentage cumulative total return for cititgroup's common stock for the five year period ending 2010?
|
-88.78%
|
{
"answer": "-88.78%",
"decimal": -0.8878,
"type": "percentage"
}
| |
citigroup 2019s repurchases are primarily from government sponsored entities .the specific representations and warranties made by the company depend on the nature of the transaction and the requirements of the buyer .market conditions and credit-ratings agency requirements may also affect representations and warranties and the other provisions the company may agree to in loan sales .in the event of a breach of the representations and warranties , the company may be required to either repurchase the mortgage loans ( generally at unpaid principal balance plus accrued interest ) with the identified defects or indemnify ( 201cmake-whole 201d ) the investor or insurer .the company has recorded a repurchase reserve that is included in other liabilities in the consolidated balance sheet .in the case of a repurchase , the company will bear any subsequent credit loss on the mortgage loans .the company 2019s representations and warranties are generally not subject to stated limits in amount or time of coverage .however , contractual liability arises only when the representations and warranties are breached and generally only when a loss results from the breach .in the case of a repurchase , the loan is typically considered a credit- impaired loan and accounted for under sop 03-3 , 201caccounting for certain loans and debt securities , acquired in a transfer 201d ( now incorporated into asc 310-30 , receivables 2014loans and debt securities acquired with deteriorated credit quality ) .these repurchases have not had a material impact on nonperforming loan statistics , because credit-impaired purchased sop 03-3 loans are not included in nonaccrual loans .the company estimates its exposure to losses from its obligation to repurchase previously sold loans based on the probability of repurchase or make-whole and an estimated loss given repurchase or make-whole .this estimate is calculated separately by sales vintage ( i.e. , the year the loans were sold ) based on a combination of historical trends and forecasted repurchases and losses considering the : ( 1 ) trends in requests by investors for loan documentation packages to be reviewed ; ( 2 ) trends in recent repurchases and make-wholes ; ( 3 ) historical percentage of claims made as a percentage of loan documentation package requests ; ( 4 ) success rate in appealing claims ; ( 5 ) inventory of unresolved claims ; and ( 6 ) estimated loss given repurchase or make-whole , including the loss of principal , accrued interest , and foreclosure costs .the company does not change its estimation methodology by counterparty , but the historical experience and trends are considered when evaluating the overall reserve .the request for loan documentation packages is an early indicator of a potential claim .during 2009 , loan documentation package requests and the level of outstanding claims increased .in addition , our loss severity estimates increased during 2009 due to the impact of macroeconomic factors and recent experience .these factors contributed to a $ 493 million change in estimate for this reserve in 2009 .as indicated above , the repurchase reserve is calculated by sales vintage .the majority of the repurchases in 2009 were from the 2006 and 2007 sales vintages , which also represent the vintages with the largest loss- given-repurchase .an insignificant percentage of 2009 repurchases were from vintages prior to 2006 , and this is expected to decrease , because those vintages are later in the credit cycle .although early in the credit cycle , the company has experienced improved repurchase and loss-given-repurchase statistics from the 2008 and 2009 vintages .in the case of a repurchase of a credit-impaired sop 03-3 loan ( now incorporated into asc 310-30 ) , the difference between the loan 2019s fair value and unpaid principal balance at the time of the repurchase is recorded as a utilization of the repurchase reserve .payments to make the investor whole are also treated as utilizations and charged directly against the reserve .the provision for estimated probable losses arising from loan sales is recorded as an adjustment to the gain on sale , which is included in other revenue in the consolidated statement of income .a liability for representations and warranties is estimated when the company sells loans and is updated quarterly .any subsequent adjustment to the provision is recorded in other revenue in the consolidated statement of income .the activity in the repurchase reserve for the years ended december 31 , 2009 and 2008 is as follows: .
[['in millions of dollars', '2009', '2008'], ['balance beginning of the year', '$ 75', '$ 2'], ['additions for new sales', '33', '23'], ['change in estimate', '493', '59'], ['utilizations', '-119 ( 119 )', '-9 ( 9 )'], ['balance end of the year', '$ 482', '$ 75']]
goodwill goodwill represents an acquired company 2019s acquisition cost over the fair value of net tangible and intangible assets acquired .goodwill is subject to annual impairment tests , whereby goodwill is allocated to the company 2019s reporting units and an impairment is deemed to exist if the carrying value of a reporting unit exceeds its estimated fair value .furthermore , on any business dispositions , goodwill is allocated to the business disposed of based on the ratio of the fair value of the business disposed of to the fair value of the reporting unit .intangible assets intangible assets 2014including core deposit intangibles , present value of future profits , purchased credit card relationships , other customer relationships , and other intangible assets , but excluding msrs 2014are amortized over their estimated useful lives .intangible assets deemed to have indefinite useful lives , primarily certain asset management contracts and trade names , are not amortized and are subject to annual impairment tests .an impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value .for other intangible assets subject to amortization , an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the intangible asset .other assets and other liabilities other assets include , among other items , loans held-for-sale , deferred tax assets , equity-method investments , interest and fees receivable , premises and equipment , end-user derivatives in a net receivable position , repossessed assets , and other receivables. .
|
what was the percent of the increase the additions for new sales of the repurchase reserve from 2008 to 2009
|
43.5%
|
{
"answer": "43.5%",
"decimal": 0.435,
"type": "percentage"
}
|
the additions for new sales of the repurchase reserve increased by 43.5% from 2008 to 2009
|
marathon oil corporation notes to consolidated financial statements 7 .dispositions outside-operated norwegian properties 2013 on october 31 , 2008 , we closed the sale of our norwegian outside-operated properties and undeveloped offshore acreage in the heimdal area of the norwegian north sea for net proceeds of $ 301 million , with a pretax gain of $ 254 million as of december 31 , 2008 .pilot travel centers 2013 on october 8 , 2008 , we completed the sale of our 50 percent ownership interest in ptc .sale proceeds were $ 625 million , with a pretax gain on the sale of $ 126 million .immediately preceding the sale , we received a $ 75 million partial redemption of our ownership interest from ptc that was accounted for as a return of investment .operated irish properties 2013 on december 17 , 2008 , we agreed to sell our operated properties located in ireland for proceeds of $ 180 million , before post-closing adjustments and cash on hand at closing .closing is subject to completion of the necessary administrative processes .as of december 31 , 2008 , operating assets and liabilities were classified as held for sale , as disclosed by major class in the following table : ( in millions ) 2008 .
[['( in millions )', '2008'], ['current assets', '$ 164'], ['noncurrent assets', '103'], ['total assets', '267'], ['current liabilities', '62'], ['noncurrent liabilities', '199'], ['total liabilities', '261'], ['net assets held for sale', '$ 6']]
8 .discontinued operations on june 2 , 2006 , we sold our russian oil exploration and production businesses in the khanty-mansiysk region of western siberia .under the terms of the agreement , we received $ 787 million for these businesses , plus preliminary working capital and other closing adjustments of $ 56 million , for a total transaction value of $ 843 million .proceeds net of transaction costs and cash held by the russian businesses at the transaction date totaled $ 832 million .a gain on the sale of $ 243 million ( $ 342 million before income taxes ) was reported in discontinued operations for 2006 .income taxes on this gain were reduced by the utilization of a capital loss carryforward .exploration and production segment goodwill of $ 21 million was allocated to the russian assets and reduced the reported gain .adjustments to the sales price were completed in 2007 and an additional gain on the sale of $ 8 million ( $ 13 million before income taxes ) was recognized .the activities of the russian businesses have been reported as discontinued operations in the consolidated statements of income and the consolidated statements of cash flows for 2006 .revenues applicable to discontinued operations were $ 173 million and pretax income from discontinued operations was $ 45 million for 2006. .
|
for the russian businesses transaction , what was the tax effect of the gain on the sale of $ 243 million reported in discontinued operations for 2006?
|
99
|
{
"answer": "99",
"decimal": 99,
"type": "float"
}
| |
consumer foods net sales increased $ 303 million , or 5% ( 5 % ) , for the year to $ 6.8 billion .results reflect an increase of three percentage points from improved net pricing and product mix and two percentage points of improvement from higher volumes .net pricing and volume improvements were achieved in many of the company 2019s priority investment and enabler brands .the impact of product recalls partially offset these improvements .the company implemented significant price increases for many consumer foods products during the fourth quarter of fiscal 2008 .continued net sales improvements are expected into fiscal 2009 when the company expects to receive the benefit of these pricing actions for full fiscal periods .sales of some of the company 2019s most significant brands , including chef boyardee ae , david ae , egg beaters ae , healthy choice ae , hebrew national ae , hunt 2019s ae , marie callender 2019s ae , manwich ae , orville redenbacher 2019s ae , pam ae , ro*tel ae , rosarita ae , snack pack ae , swiss miss ae , wesson ae , and wolf ae grew in fiscal 2008 .sales of act ii ae , andy capp ae , banquet ae , crunch 2018n munch ae , kid cuisine ae , parkay ae , pemmican ae , reddi-wip ae , and slim jim ae declined in fiscal 2008 .net sales in the consumer foods segment are not comparable across periods due to a variety of factors .the company initiated a peanut butter recall in the third quarter of fiscal 2007 and reintroduced peter pan ae peanut butter products in august 2007 .sales of all peanut butter products , including both branded and private label , in fiscal 2008 were $ 14 million lower than comparable amounts in fiscal 2007 .consumer foods net sales were also adversely impacted by the recall of banquet ae and private label pot pies in the second quarter of fiscal 2008 .net sales of pot pies were lower by approximately $ 22 million in fiscal 2008 , relative to fiscal 2007 , primarily due to product returns and lost sales of banquet ae and private label pot pies .sales from alexia foods and lincoln snacks , businesses acquired in fiscal 2008 , totaled $ 66 million in fiscal 2008 .the company divested a refrigerated pizza business during the first half of fiscal 2007 .sales from this business were $ 17 million in fiscal food and ingredients net sales were $ 4.1 billion in fiscal 2008 , an increase of $ 706 million , or 21% ( 21 % ) .increased sales are reflective of higher sales prices in the company 2019s milling operations due to higher grain prices , and price and volume increases in the company 2019s potato and dehydrated vegetable operations .the fiscal 2007 divestiture of an oat milling operation resulted in a reduction of sales of $ 27 million for fiscal 2008 , partially offset by increased sales of $ 18 million from the acquisition of watts brothers in february 2008 .international foods net sales increased $ 65 million to $ 678 million .the strengthening of foreign currencies relative to the u.s .dollar accounted for approximately $ 36 million of this increase .the segment achieved a 5% ( 5 % ) increase in sales volume in fiscal 2008 , primarily reflecting increased unit sales in canada and mexico , and modest increases in net pricing .gross profit ( net sales less cost of goods sold ) ( $ in millions ) reporting segment fiscal 2008 gross profit fiscal 2007 gross profit % ( % ) increase/ ( decrease ) .
[['reporting segment', 'fiscal 2008 gross profit', 'fiscal 2007 gross profit', '% ( % ) increase/ ( decrease )'], ['consumer foods', '$ 1802', '$ 1923', '( 6 ) % ( % )'], ['food and ingredients', '724', '590', '23% ( 23 % )'], ['international foods', '190', '180', '6% ( 6 % )'], ['total', '$ 2716', '$ 2693', '1% ( 1 % )']]
the company 2019s gross profit for fiscal 2008 was $ 2.7 billion , an increase of $ 23 million , or 1% ( 1 % ) , over the prior year .the increase in gross profit was largely driven by results in the food and ingredients segment , reflecting higher margins in the company 2019s milling and specialty potato operations , largely offset by reduced gross profits in the consumer foods segment .costs of implementing the company 2019s restructuring plans reduced gross profit by $ 4 million and $ 46 million in fiscal 2008 and fiscal 2007 , respectively. .
|
what percent of total gross profit in fiscal 2008 was contributed by consumer foods?
|
66%
|
{
"answer": "66%",
"decimal": 0.66,
"type": "percentage"
}
| |
sources and uses of cash ( in millions ) in summary , our cash flows for each period were as follows : years ended ( in millions ) dec 29 , dec 30 , dec 31 .
[['years ended ( in millions )', 'dec 292018', 'dec 302017', 'dec 312016'], ['net cash provided by operating activities', '$ 29432', '$ 22110', '$ 21808'], ['net cash used for investing activities', '-11239 ( 11239 )', '-15762 ( 15762 )', '-25817 ( 25817 )'], ['net cash provided by ( used for ) financing activities', '-18607 ( 18607 )', '-8475 ( 8475 )', '-5739 ( 5739 )'], ['net increase ( decrease ) in cash and cash equivalents', '$ -414 ( 414 )', '$ -2127 ( 2127 )', '$ -9748 ( 9748 )']]
md&a consolidated results and analysis 40 .
|
as of december 292017 what was the percent of the net cash used for investing activities to the net cash provided by operating activities
|
38.2%
|
{
"answer": "38.2%",
"decimal": 0.382,
"type": "percentage"
}
|
as of december 292018 38.2% of net cash provided by operating activities was used for the used for investing activities
|
stock performance graph : the graph below shows the cumulative total shareholder return assuming the investment of $ 100 , on december 31 , 2013 , and the reinvestment of dividends thereafter , if any , in the company 2019s common stock versus the standard and poor 2019s s&p 500 retail index ( 201cs&p 500 retail index 201d ) and the standard and poor 2019s s&p 500 index ( 201cs&p 500 201d ) . .
[['company/index', 'december 31 , 2013', 'december 31 , 2014', 'december 31 , 2015', 'december 31 , 2016', 'december 31 , 2017', 'december 31 , 2018'], ['o 2019reilly automotive inc .', '$ 100', '$ 150', '$ 197', '$ 216', '$ 187', '$ 268'], ['s&p 500 retail index', '100', '110', '137', '143', '184', '208'], ['s&p 500', '$ 100', '$ 111', '$ 111', '$ 121', '$ 145', '$ 136']]
.
|
did the five year return on o 2019reilly automotive inc . outperform the s&p 500 retail index?
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
the aeronautics segment generally includes fewer programs that have much larger sales and operating results than programs included in the other segments .due to the large number of comparatively smaller programs in the remaining segments , the discussion of the results of operations of those business segments focuses on lines of business within the segment rather than on specific programs .the following tables of financial information and related discussion of the results of operations of our business segments are consistent with the presentation of segment information in note 5 to the financial statements .we have a number of programs that are classified by the u.s .government and cannot be specifically described .the operating results of these classified programs are included in our consolidated and business segment results , and are subjected to the same oversight and internal controls as our other programs .aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support , and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles , and related technologies .key combat aircraft programs include the f-35 lightning ii , f-16 fighting falcon , and f-22 raptor fighter aircraft .key air mobility programs include the c-130j super hercules and the c-5m super galaxy .aeronautics provides logistics support , sustainment , and upgrade modification services for its aircraft .aeronautics 2019 operating results included the following : ( in millions ) 2010 2009 2008 .
[['( in millions )', '2010', '2009', '2008'], ['net sales', '$ 13235', '$ 12201', '$ 11473'], ['operating profit', '1502', '1577', '1433'], ['operating margin', '11.3% ( 11.3 % )', '12.9% ( 12.9 % )', '12.5% ( 12.5 % )'], ['backlog at year-end', '27500', '26700', '27200']]
net sales for aeronautics increased by 8% ( 8 % ) in 2010 compared to 2009 .sales increased in all three lines of business during the year .the $ 800 million increase in air mobility primarily was attributable to higher volume on c-130 programs , including deliveries and support activities , as well as higher volume on the c-5 reliability enhancement and re-engining program ( rerp ) .there were 25 c-130j deliveries in 2010 compared to 16 in 2009 .the $ 179 million increase in combat aircraft principally was due to higher volume on f-35 production contracts , which partially was offset by lower volume on the f-35 sdd contract and a decline in volume on f-16 , f-22 and other combat aircraft programs .there were 20 f-16 deliveries in 2010 compared to 31 in 2009 .the $ 55 million increase in other aeronautics programs mainly was due to higher volume on p-3 and advanced development programs , which partially were offset by a decline in volume on sustainment activities .net sales for aeronautics increased by 6% ( 6 % ) in 2009 compared to 2008 .during the year , sales increased in all three lines of business .the increase of $ 296 million in air mobility 2019s sales primarily was attributable to higher volume on the c-130 programs , including deliveries and support activities .there were 16 c-130j deliveries in 2009 and 12 in 2008 .combat aircraft sales increased $ 316 million principally due to higher volume on the f-35 program and increases in f-16 deliveries , which partially were offset by lower volume on f-22 and other combat aircraft programs .there were 31 f-16 deliveries in 2009 compared to 28 in 2008 .the $ 116 million increase in other aeronautics programs mainly was due to higher volume on p-3 programs and advanced development programs , which partially were offset by declines in sustainment activities .operating profit for the segment decreased by 5% ( 5 % ) in 2010 compared to 2009 .a decline in operating profit in combat aircraft partially was offset by increases in other aeronautics programs and air mobility .the $ 149 million decrease in combat aircraft 2019s operating profit primarily was due to lower volume and a decrease in the level of favorable performance adjustments on the f-22 program , the f-35 sdd contract and f-16 and other combat aircraft programs in 2010 .these decreases more than offset increased operating profit resulting from higher volume and improved performance on f-35 production contracts in 2010 .the $ 35 million increase in other aeronautics programs mainly was attributable to higher volume and improved performance on p-3 and advanced development programs as well as an increase in the level of favorable performance adjustments on sustainment activities in 2010 .the $ 19 million increase in air mobility operating profit primarily was due to higher volume and improved performance in 2010 on c-130j support activities , which more than offset a decrease in operating profit due to a lower level of favorable performance adjustments on c-130j deliveries in 2010 .the remaining change in operating profit is attributable to an increase in other income , net between the comparable periods .aeronautics 2019 2010 operating margins have decreased when compared to 2009 .the operating margin decrease reflects the life cycles of our significant programs .specifically , aeronautics is performing more development and initial production work on the f-35 program and is performing less work on more mature programs such as the f-22 and f-16 .development and initial production contracts yield lower profits than mature full rate programs .accordingly , while net sales increased in 2010 relative to 2009 , operating profit decreased and consequently operating margins have declined. .
|
what are the total operating expenses for aeronautics in 2010?
|
11733
|
{
"answer": "11733",
"decimal": 11733,
"type": "float"
}
| |
a valuation allowance has been established for certain deferred tax assets related to the impairment of investments .accounting for uncertainty in income taxes during fiscal 2011 and 2010 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : beginning balance gross increases in unrecognized tax benefits 2013 prior year tax positions gross decreases in unrecognized tax benefits 2013 prior year tax positions gross increases in unrecognized tax benefits 2013 current year tax positions settlements with taxing authorities lapse of statute of limitations foreign exchange gains and losses ending balance $ 156925 11901 ( 4154 ) 32420 ( 29101 ) ( 3825 ) $ 163607 $ 218040 ( 7104 ) 15108 ( 70484 ) ( 7896 ) $ 156925 as of december 2 , 2011 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 12.3 million .we file income tax returns in the u.s .on a federal basis and in many u.s .state and foreign jurisdictions .we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities .our major tax jurisdictions are the u.s. , ireland and california .for california , ireland and the u.s. , the earliest fiscal years open for examination are 2005 , 2006 and 2008 , respectively .we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examination .we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position .in august 2011 , a canadian income tax examination covering our fiscal years 2005 through 2008 was completed .our accrued tax and interest related to these years was approximately $ 35 million and was previously reported in long-term income taxes payable .we reclassified approximately $ 17 million to short-term income taxes payable and decreased deferred tax assets by approximately $ 18 million in conjunction with the aforementioned resolution .the $ 17 million balance in short-term income taxes payable is partially secured by a letter of credit and is expected to be paid by the first quarter of fiscal 2012 .in october 2010 , a u.s .income tax examination covering our fiscal years 2005 through 2007 was completed .our accrued tax and interest related to these years was $ 59 million and was previously reported in long-term income taxes payable .we paid $ 20 million in conjunction with the aforementioned resolution .a net income statement tax benefit in the fourth quarter of fiscal 2010 of $ 39 million resulted .the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process .these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities .the company believes that before the end of fiscal 2012 , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both .given the uncertainties described above , we can only determine a range of estimated potential decreases in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 40 million .these amounts would decrease income tax expense under current gaap related to income taxes .note 11 .restructuring fiscal 2011 restructuring plan in the fourth quarter of fiscal 2011 , in order to better align our resources around our digital media and digital marketing strategies , we initiated a restructuring plan consisting of reductions of approximately 700 full-time positions worldwide and we recorded restructuring charges of approximately $ 78.6 million related to ongoing termination benefits for the position eliminated .table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .
[['', '2011', '2010'], ['beginning balance', '$ 156925', '$ 218040'], ['gross increases in unrecognized tax benefits 2013 prior year tax positions', '11901', '9580'], ['gross decreases in unrecognized tax benefits 2013 prior year tax positions', '-4154 ( 4154 )', '-7104 ( 7104 )'], ['gross increases in unrecognized tax benefits 2013 current year tax positions', '32420', '15108'], ['settlements with taxing authorities', '-29101 ( 29101 )', '-70484 ( 70484 )'], ['lapse of statute of limitations', '-3825 ( 3825 )', '-7896 ( 7896 )'], ['foreign exchange gains and losses', '-559 ( 559 )', '-319 ( 319 )'], ['ending balance', '$ 163607', '$ 156925']]
a valuation allowance has been established for certain deferred tax assets related to the impairment of investments .accounting for uncertainty in income taxes during fiscal 2011 and 2010 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : beginning balance gross increases in unrecognized tax benefits 2013 prior year tax positions gross decreases in unrecognized tax benefits 2013 prior year tax positions gross increases in unrecognized tax benefits 2013 current year tax positions settlements with taxing authorities lapse of statute of limitations foreign exchange gains and losses ending balance $ 156925 11901 ( 4154 ) 32420 ( 29101 ) ( 3825 ) $ 163607 $ 218040 ( 7104 ) 15108 ( 70484 ) ( 7896 ) $ 156925 as of december 2 , 2011 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 12.3 million .we file income tax returns in the u.s .on a federal basis and in many u.s .state and foreign jurisdictions .we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities .our major tax jurisdictions are the u.s. , ireland and california .for california , ireland and the u.s. , the earliest fiscal years open for examination are 2005 , 2006 and 2008 , respectively .we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examination .we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position .in august 2011 , a canadian income tax examination covering our fiscal years 2005 through 2008 was completed .our accrued tax and interest related to these years was approximately $ 35 million and was previously reported in long-term income taxes payable .we reclassified approximately $ 17 million to short-term income taxes payable and decreased deferred tax assets by approximately $ 18 million in conjunction with the aforementioned resolution .the $ 17 million balance in short-term income taxes payable is partially secured by a letter of credit and is expected to be paid by the first quarter of fiscal 2012 .in october 2010 , a u.s .income tax examination covering our fiscal years 2005 through 2007 was completed .our accrued tax and interest related to these years was $ 59 million and was previously reported in long-term income taxes payable .we paid $ 20 million in conjunction with the aforementioned resolution .a net income statement tax benefit in the fourth quarter of fiscal 2010 of $ 39 million resulted .the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process .these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities .the company believes that before the end of fiscal 2012 , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both .given the uncertainties described above , we can only determine a range of estimated potential decreases in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 40 million .these amounts would decrease income tax expense under current gaap related to income taxes .note 11 .restructuring fiscal 2011 restructuring plan in the fourth quarter of fiscal 2011 , in order to better align our resources around our digital media and digital marketing strategies , we initiated a restructuring plan consisting of reductions of approximately 700 full-time positions worldwide and we recorded restructuring charges of approximately $ 78.6 million related to ongoing termination benefits for the position eliminated .table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .
|
what is the growth rate in the balance of unrecognized tax benefits during 2010?
|
-28.0%
|
{
"answer": "-28.0%",
"decimal": -0.28,
"type": "percentage"
}
| |
apple inc .| 2016 form 10-k | 20 company stock performance the following graph shows a comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the s&p information technology index and the dow jones u.s .technology supersector index for the five years ended september 24 , 2016 .the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p information technology index and the dow jones u.s .technology supersector index as of the market close on september 23 , 2011 .note that historic stock price performance is not necessarily indicative of future stock price performance .* $ 100 invested on 9/23/11 in stock or index , including reinvestment of dividends .data points are the last day of each fiscal year for the company 2019s common stock and september 30th for indexes .copyright a9 2016 s&p , a division of mcgraw hill financial .all rights reserved .copyright a9 2016 dow jones & co .all rights reserved .september september september september september september .
[['', 'september2011', 'september2012', 'september2013', 'september2014', 'september2015', 'september2016'], ['apple inc .', '$ 100', '$ 166', '$ 123', '$ 183', '$ 212', '$ 213'], ['s&p 500 index', '$ 100', '$ 130', '$ 155', '$ 186', '$ 185', '$ 213'], ['s&p information technology index', '$ 100', '$ 132', '$ 142', '$ 183', '$ 187', '$ 230'], ['dow jones u.s . technology supersector index', '$ 100', '$ 130', '$ 137', '$ 178', '$ 177', '$ 217']]
.
|
what was the 1 year return of apple inc . from 2013 to 2014?
|
49%
|
{
"answer": "49%",
"decimal": 0.49,
"type": "percentage"
}
| |
financial data supplement ( unaudited ) 2014 ( continued ) .
[['country', 'at december 31 2011 banks', 'at december 31 2011 governments', 'at december 31 2011 other', 'at december 31 2011 total'], ['united kingdom', '$ 13852', '$ 2', '$ 89585', '$ 103439'], ['cayman islands', '766', '2014', '31169', '31935'], ['france', '23561', '1096', '4196', '28853'], ['japan', '23542', '436', '2821', '26799'], ['germany', '18674', '3485', '1859', '24018'], ['netherlands', '3508', '23', '8826', '12357'], ['luxembourg', '1619', '94', '6137', '7850'], ['brazil', '149', '3398', '2165', '5712'], ['australia', '2008', '557', '1414', '3979'], ['italy', '881', '1463', '539', '2883']]
.
|
are the japan banks larger than the german government?
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
the goldman sachs group , inc .and subsidiaries notes to consolidated financial statements in connection with the firm 2019s prime brokerage and clearing businesses , the firm agrees to clear and settle on behalf of its clients the transactions entered into by them with other brokerage firms .the firm 2019s obligations in respect of such transactions are secured by the assets in the client 2019s account as well as any proceeds received from the transactions cleared and settled by the firm on behalf of the client .in connection with joint venture investments , the firm may issue loan guarantees under which it may be liable in the event of fraud , misappropriation , environmental liabilities and certain other matters involving the borrower .the firm is unable to develop an estimate of the maximum payout under these guarantees and indemnifications .however , management believes that it is unlikely the firm will have to make any material payments under these arrangements , and no material liabilities related to these guarantees and indemnifications have been recognized in the consolidated statements of financial condition as of december 2016 and december 2015 .other representations , warranties and indemnifications .the firm provides representations and warranties to counterparties in connection with a variety of commercial transactions and occasionally indemnifies them against potential losses caused by the breach of those representations and warranties .the firm may also provide indemnifications protecting against changes in or adverse application of certain u.s .tax laws in connection with ordinary-course transactions such as securities issuances , borrowings or derivatives .in addition , the firm may provide indemnifications to some counterparties to protect them in the event additional taxes are owed or payments are withheld , due either to a change in or an adverse application of certain non-u.s .tax laws .these indemnifications generally are standard contractual terms and are entered into in the ordinary course of business .generally , there are no stated or notional amounts included in these indemnifications , and the contingencies triggering the obligation to indemnify are not expected to occur .the firm is unable to develop an estimate of the maximum payout under these guarantees and indemnifications .however , management believes that it is unlikely the firm will have to make any material payments under these arrangements , and no material liabilities related to these arrangements have been recognized in the consolidated statements of financial condition as of december 2016 and december 2015 .guarantees of subsidiaries .group inc .fully and unconditionally guarantees the securities issued by gs finance corp. , a wholly-owned finance subsidiary of the group inc .has guaranteed the payment obligations of goldman , sachs & co .( gs&co. ) and gs bank usa , subject to certain exceptions .in addition , group inc .guarantees many of the obligations of its other consolidated subsidiaries on a transaction-by- transaction basis , as negotiated with counterparties .group inc .is unable to develop an estimate of the maximum payout under its subsidiary guarantees ; however , because these guaranteed obligations are also obligations of consolidated subsidiaries , group inc . 2019s liabilities as guarantor are not separately disclosed .note 19 .shareholders 2019 equity common equity dividends declared per common share were $ 2.60 in 2016 , $ 2.55 in 2015 and $ 2.25 in 2014 .on january 17 , 2017 , group inc .declared a dividend of $ 0.65 per common share to be paid on march 30 , 2017 to common shareholders of record on march 2 , 2017 .the firm 2019s share repurchase program is intended to help maintain the appropriate level of common equity .the share repurchase program is effected primarily through regular open-market purchases ( which may include repurchase plans designed to comply with rule 10b5-1 ) , the amounts and timing of which are determined primarily by the firm 2019s current and projected capital position , but which may also be influenced by general market conditions and the prevailing price and trading volumes of the firm 2019s common stock .prior to repurchasing common stock , the firm must receive confirmation that the federal reserve board does not object to such capital actions .the table below presents the amount of common stock repurchased by the firm under the share repurchase program. .
[['in millions except per share amounts', 'year ended december 2016', 'year ended december 2015', 'year ended december 2014'], ['common share repurchases', '36.6', '22.1', '31.8'], ['average cost per share', '$ 165.88', '$ 189.41', '$ 171.79'], ['total cost of common share repurchases', '$ 6069', '$ 4195', '$ 5469']]
172 goldman sachs 2016 form 10-k .
|
what was the difference in millions between the total cost of common shares repurchases from 2015 to 2016?
|
1874
|
{
"answer": "1874",
"decimal": 1874,
"type": "float"
}
| |
j.p .morgan chase & co ./ 2003 annual report 65 the commercial specific loss component of the allowance was $ 917 million at december 31 , 2003 , a decrease of 43% ( 43 % ) from year-end 2002 .the decrease was attributable to the improve- ment in the credit quality of the commercial loan portfolio , as well as the reduction in the size of the portfolio .the commercial expected loss component of the allowance was $ 454 million at december 31 , 2003 , a decrease of 26% ( 26 % ) from year- end 2002 .the decrease reflected an improvement in the average quality of the loan portfolio , as well as the improving credit envi- ronment , which affected inputs to the expected loss model .the consumer expected loss component of the allowance was $ 2.3 billion at december 31 , 2003 , a decrease of 4% ( 4 % ) from year- end 2002 .although the consumer managed loan portfolio increased by 10% ( 10 % ) , the businesses that drove the increase , home finance and auto finance , have collateralized products with lower expected loss rates .the residual component of the allowance was $ 895 million at december 31 , 2003 .the residual component , which incorpo- rates management's judgment , addresses uncertainties that are not considered in the formula-based commercial specific and expected components of the allowance for credit losses .the $ 121 million increase addressed uncertainties in the eco- nomic environment and concentrations in the commercial loan portfolio that existed during the first half of 2003 .in the sec- ond half of the year , as commercial credit quality continued to improve and the commercial allowance declined further , the residual component was reduced as well .at december 31 , 2003 , the residual component represented approximately 20% ( 20 % ) of the total allowance for loan losses , within the firm 2019s target range of between 10% ( 10 % ) and 20% ( 20 % ) .the firm anticipates that if the current positive trend in economic conditions and credit quality continues , the commercial and residual components will continue to be reduced .lending-related commitments to provide for the risk of loss inherent in the credit-extension process , management also computes specific and expected loss components as well as a residual component for commercial lending 2013related commitments .this is computed using a methodology similar to that used for the commercial loan port- folio , modified for expected maturities and probabilities of drawdown .the allowance decreased by 11% ( 11 % ) to $ 324 million as of december 31 , 2003 , due to improvement in the criticized portion of the firm 2019s lending-related commitments .credit costs .
[['for the year ended december 31 ( in millions )', 'for the year ended december 31 commercial', 'for the year ended december 31 consumer', 'for the year ended december 31 residual', 'for the year ended december 31 total', 'for the year ended december 31 commercial', 'for the year ended december 31 consumer', 'residual', 'total'], ['provision for loan losses', '$ -30 ( 30 )', '$ 1491', '$ 118', '$ 1579', '$ 2371', '$ 1589', '$ 79', '$ 4039'], ['provision for lending-related commitments', '-47 ( 47 )', '2014', '8', '-39 ( 39 )', '309', '2014', '-17 ( 17 )', '292'], ['securitized credit losses', '2014', '1870', '2014', '1870', '2014', '1439', '2014', '1439'], ['total managed credit costs', '$ -77 ( 77 )', '$ 3361', '$ 126', '$ 3410', '$ 2680', '$ 3028', '$ 62', '$ 5770']]
.
|
the consumer segment accounted for how much of the overall provision for loan losses in 2003?
|
94.4%
|
{
"answer": "94.4%",
"decimal": 0.9440000000000001,
"type": "percentage"
}
| |
entergy corporation and subsidiaries management's financial discussion and analysis the expenses related to the voluntary severance program offered to employees .approximately 200 employees from the non-utility nuclear business and 150 employees in the utility business accepted the voluntary severance program offers .net revenue utility following is an analysis of the change in net revenue comparing 2008 to 2007 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2007 net revenue', '$ 4618'], ['purchased power capacity', '-25 ( 25 )'], ['volume/weather', '-14 ( 14 )'], ['retail electric price', '9'], ['other', '1'], ['2008 net revenue', '$ 4589']]
the purchased power capacity variance is primarily due to higher capacity charges .a portion of the variance is due to the amortization of deferred capacity costs and is offset in base revenues due to base rate increases implemented to recover incremental deferred and ongoing purchased power capacity charges .the volume/weather variance is primarily due to the effect of less favorable weather compared to the same period in 2007 and decreased electricity usage primarily during the unbilled sales period .hurricane gustav and hurricane ike , which hit the utility's service territories in september 2008 , contributed an estimated $ 46 million to the decrease in electricity usage .industrial sales were also depressed by the continuing effects of the hurricanes and , especially in the latter part of the year , because of the overall decline of the economy , leading to lower usage in the latter part of the year affecting both the large customer industrial segment as well as small and mid-sized industrial customers .the decreases in electricity usage were partially offset by an increase in residential and commercial customer electricity usage that occurred during the periods of the year not affected by the hurricanes .the retail electric price variance is primarily due to : an increase in the attala power plant costs recovered through the power management rider by entergy mississippi .the net income effect of this recovery is limited to a portion representing an allowed return on equity with the remainder offset by attala power plant costs in other operation and maintenance expenses , depreciation expenses , and taxes other than income taxes ; a storm damage rider that became effective in october 2007 at entergy mississippi ; and an energy efficiency rider that became effective in november 2007 at entergy arkansas .the establishment of the storm damage rider and the energy efficiency rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense with no impact on net income .the retail electric price variance was partially offset by : the absence of interim storm recoveries through the formula rate plans at entergy louisiana and entergy gulf states louisiana which ceased upon the act 55 financing of storm costs in the third quarter 2008 ; and a credit passed on to customers as a result of the act 55 storm cost financings .refer to "liquidity and capital resources - hurricane katrina and hurricane rita" below and note 2 to the financial statements for a discussion of the interim recovery of storm costs and the act 55 storm cost financings. .
|
how much lower was net revenue in 2008 than 2007 ? ( in million $ )
|
29
|
{
"answer": "29",
"decimal": 29,
"type": "float"
}
| |
system energy resources , inc .management's financial discussion and analysis with syndicated bank letters of credit .in december 2004 , system energy amended these letters of credit and they now expire in may 2009 .system energy may refinance or redeem debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .all debt and common stock issuances by system energy require prior regulatory approval .debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements .system energy has sufficient capacity under these tests to meet its foreseeable capital needs .system energy has obtained a 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 $ 200 million .see note 4 to the financial statements for further discussion of system energy's short-term borrowing limits .system energy has also obtained an order from the ferc authorizing long-term securities issuances .the current long- term authorization extends through june 2009 .system energy's receivables from 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 )'], ['$ 42915', '$ 53620', '$ 88231', '$ 277287']]
in may 2007 , $ 22.5 million of system energy'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 .nuclear matters system energy owns and operates grand gulf .system energy is , therefore , subject to the risks related to owning and operating a nuclear plant .these include risks from the use , storage , handling and disposal of high-level and low-level radioactive materials , regulatory requirement changes , including changes resulting from events at other plants , limitations on the amounts and types of insurance commercially available for losses in connection with nuclear operations , and technological and financial uncertainties related to decommissioning nuclear plants at the end of their licensed lives , including the sufficiency of funds in decommissioning trusts .in the event of an unanticipated early shutdown of grand gulf , system energy may be required to provide additional funds or credit support to satisfy regulatory requirements for decommissioning .environmental risks system energy's facilities and operations are subject to regulation by various governmental authorities having jurisdiction over air quality , water quality , control of toxic substances and hazardous and solid wastes , and other environmental matters .management believes that system energy is in substantial compliance with environmental regulations currently applicable to its facilities and operations .because environmental regulations are subject to change , future compliance costs cannot be precisely estimated .critical accounting estimates the preparation of system energy's financial statements in conformity with generally accepted accounting principles requires management to apply appropriate accounting policies and to make estimates and judgments that .
|
what percent of system energy's receivable from the money pool was replaced by a note receivable from entergy new orleans?
|
42%
|
{
"answer": "42%",
"decimal": 0.42,
"type": "percentage"
}
| |
growth focused .for example , in december 2005 , 3m announced its intention to build an lcd optical film manufacturing facility in poland to support the fast-growing lcd-tv market in europe and to better serve its customers .the company expects 2006 capital expenditures to total approximately $ 1.1 billion , compared with $ 943 million in 2005 .in the third quarter of 2005 , 3m completed the acquisition of cuno .3m acquired cuno for approximately $ 1.36 billion , including assumption of debt .this $ 1.36 billion included $ 1.27 billion of cash paid ( net of cash acquired ) and the assumption of $ 80 million of debt , most of which has been repaid .in 2005 , the company also entered into two additional business combinations for a total purchase price of $ 27 million .refer to note 2 to the consolidated financial statements for more information on these 2005 business combinations , and for information concerning 2004 and 2003 business combinations .purchases of investments in 2005 include the purchase from ti&m beteiligungsgesellschaft mbh of 19 percent of i&t innovation technology ( discussed previously under the transportation business segment ) .the purchase price of approximately $ 55 million is reported as 201cinvestments 201d in the consolidated balance sheet and as 201cpurchases of investments 201d in the consolidated statement of cash flows .other 201cpurchases of investments 201d and 201cproceeds from sale of investments 201d in 2005 are primarily attributable to auction rate securities , which are classified as available-for-sale .prior to 2005 , purchases of and proceeds from the sale of auction rate securities were classified as cash and cash equivalents .at december 31 , 2004 , the amount of such securities taken as a whole was immaterial to cash and cash equivalents , and accordingly were not reclassified for 2004 and prior .proceeds from the sale of investments in 2003 include $ 26 million of cash received related to the sale of 3m 2019s 50% ( 50 % ) ownership in durel corporation to rogers corporation .additional purchases of investments totaled $ 5 million in 2005 , $ 10 million in 2004 and $ 16 million in 2003 .these purchases include additional survivor benefit insurance and equity investments .the company is actively considering additional acquisitions , investments and strategic alliances .cash flows from financing activities : years ended december 31 .
[['( millions )', '2005', '2004', '2003'], ['change in short-term debt 2014 net', '$ -258 ( 258 )', '$ 399', '$ -215 ( 215 )'], ['repayment of debt ( maturities greater than 90 days )', '-656 ( 656 )', '-868 ( 868 )', '-719 ( 719 )'], ['proceeds from debt ( maturities greater than 90 days )', '429', '358', '494'], ['total change in debt', '$ -485 ( 485 )', '$ -111 ( 111 )', '$ -440 ( 440 )'], ['purchases of treasury stock', '-2377 ( 2377 )', '-1791 ( 1791 )', '-685 ( 685 )'], ['reissuances of treasury stock', '545', '508', '555'], ['dividends paid to stockholders', '-1286 ( 1286 )', '-1125 ( 1125 )', '-1034 ( 1034 )'], ['distributions to minority interests and other 2014 net', '-76 ( 76 )', '-15 ( 15 )', '-23 ( 23 )'], ['net cash used in financing activities', '$ -3679 ( 3679 )', '$ -2534 ( 2534 )', '$ -1627 ( 1627 )']]
total debt at december 31 , 2005 , was $ 2.381 billion , down from $ 2.821 billion at year-end 2004 , with the decrease primarily attributable to the retirement of $ 400 million in medium-term notes .there were no new long- term debt issuances in 2005 .in 2005 , the cash flow decrease in net short-term debt of $ 258 million includes the portion of short-term debt with original maturities of 90 days or less .the repayment of debt of $ 656 million primarily related to the retirement of $ 400 million in medium-term notes and commercial paper retirements .proceeds from debt of $ 429 million primarily related to commercial paper issuances .total debt was 19% ( 19 % ) of total capital ( total capital is defined as debt plus equity ) , compared with 21% ( 21 % ) at year-end 2004 .debt securities , including the company 2019s shelf registration , its medium-term notes program , dealer remarketable securities and convertible note , are all discussed in more detail in note 8 to the consolidated financial statements .3m has a shelf registration and medium-term notes program through which $ 1.5 billion of medium- term notes may be offered .in 2004 , the company issued approximately $ 62 million in debt securities under its medium-term notes program .no debt was issued under this program in 2005 .the medium-term notes program and shelf registration have remaining capacity of approximately $ 1.438 billion .the company 2019s $ 350 million of dealer remarketable securities ( classified as current portion of long-term debt ) were remarketed for one year in december 2005 .in addition , the company has convertible notes with a book value of $ 539 million at december 31 , 2005 .the next put option date for these convertible notes is november 2007 , thus at year-end 2005 this debt .
|
what was the percentage change in the net cash used in financing activities from 2004 to 2005
|
45.2%
|
{
"answer": "45.2%",
"decimal": 0.452,
"type": "percentage"
}
|
the net cash used in financing activities increased by 45.2% from 2004 to 2005
|
edwards lifesciences corporation notes to consolidated financial statements ( continued ) 12 .employee benefit plans ( continued ) equity and debt securities are valued at fair value based on quoted market prices reported on the active markets on which the individual securities are traded .the insurance contracts are valued at the cash surrender value of the contracts , which is deemed to approximate its fair value .the following benefit payments , which reflect expected future service , as appropriate , at december 31 , 2016 , are expected to be paid ( in millions ) : .
[['2017', '$ 4.5'], ['2018', '4.0'], ['2019', '4.0'], ['2020', '4.6'], ['2021', '4.5'], ['2021-2025', '44.6']]
as of december 31 , 2016 , expected employer contributions for 2017 are $ 6.1 million .defined contribution plans the company 2019s employees in the united states and puerto rico are eligible to participate in a qualified defined contribution plan .in the united states , participants may contribute up to 25% ( 25 % ) of their eligible compensation ( subject to tax code limitation ) to the plan .edwards lifesciences matches the first 3% ( 3 % ) of the participant 2019s annual eligible compensation contributed to the plan on a dollar-for-dollar basis .edwards lifesciences matches the next 2% ( 2 % ) of the participant 2019s annual eligible compensation to the plan on a 50% ( 50 % ) basis .in puerto rico , participants may contribute up to 25% ( 25 % ) of their annual compensation ( subject to tax code limitation ) to the plan .edwards lifesciences matches the first 4% ( 4 % ) of participant 2019s annual eligible compensation contributed to the plan on a 50% ( 50 % ) basis .the company also provides a 2% ( 2 % ) profit sharing contribution calculated on eligible earnings for each employee .matching contributions relating to edwards lifesciences employees were $ 17.3 million , $ 15.3 million , and $ 12.8 million in 2016 , 2015 , and 2014 , respectively .the company also has nonqualified deferred compensation plans for a select group of employees .the plans provide eligible participants the opportunity to defer eligible compensation to future dates specified by the participant with a return based on investment alternatives selected by the participant .the amount accrued under these nonqualified plans was $ 46.7 million and $ 35.5 million at december 31 , 2016 and 2015 , respectively .13 .common stock treasury stock in july 2014 , the board of directors approved a stock repurchase program authorizing the company to purchase up to $ 750.0 million of the company 2019s common stock .in november 2016 , the board of directors approved a new stock repurchase program providing for an additional $ 1.0 billion of repurchases of our common stock .the repurchase programs do not have an expiration date .stock repurchased under these programs may be used to offset obligations under the company 2019s employee stock-based benefit programs and stock-based business acquisitions , and will reduce the total shares outstanding .during 2016 , 2015 , and 2014 , the company repurchased 7.3 million , 2.6 million , and 4.4 million shares , respectively , at an aggregate cost of $ 662.3 million , $ 280.1 million , and $ 300.9 million , respectively , including .
|
what was the percent change in matching contributions between 2014 and 2016?
|
35%
|
{
"answer": "35%",
"decimal": 0.35,
"type": "percentage"
}
| |
part iii item 10 .directors , executive officers and corporate governance the information required by this item is incorporated by reference to the 201celection of directors 201d section , the 201cdirector selection process 201d section , the 201ccode of conduct 201d section , the 201cprincipal committees of the board of directors 201d section , the 201caudit committee 201d section and the 201csection 16 ( a ) beneficial ownership reporting compliance 201d section of the proxy statement for the annual meeting of stockholders to be held on may 27 , 2010 ( the 201cproxy statement 201d ) , except for the description of our executive officers , which appears in part i of this report on form 10-k under the heading 201cexecutive officers of ipg . 201d new york stock exchange certification in 2009 , our ceo provided the annual ceo certification to the new york stock exchange , as required under section 303a.12 ( a ) of the new york stock exchange listed company manual .item 11 .executive compensation the information required by this item is incorporated by reference to the 201ccompensation of executive officers 201d section , the 201cnon-management director compensation 201d section , the 201ccompensation discussion and analysis 201d section and the 201ccompensation committee report 201d section of the proxy statement .item 12 .security ownership of certain beneficial owners and management and related stockholder matters the information required by this item is incorporated by reference to the 201coutstanding shares 201d section of the proxy statement , except for information regarding the shares of common stock to be issued or which may be issued under our equity compensation plans as of december 31 , 2009 , which is provided in the following table .equity compensation plan information plan category number of shares of common stock to be issued upon exercise of outstanding options , warrants and rights ( a ) 12 weighted-average exercise price of outstanding stock options ( b ) number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column a ) ( c ) 3 equity compensation plans approved by security holders .........34317386 $ 16.11 52359299 equity compensation plans not approved by security holders 4 .....612500 $ 27.53 2014 .
[['plan category', 'number of shares of common stock to be issued upon exercise of outstandingoptions warrants and rights ( a ) 12', 'weighted-average exercise price of outstanding stock options ( b )', 'number of securities remaining available for futureissuance under equity compensation plans ( excluding securities reflected in column a ) ( c ) 3'], ['equity compensation plans approved by security holders', '34317386', '$ 16.11', '52359299'], ['equity compensation plans not approved by security holders4', '612500', '$ 27.53', '2014'], ['total', '34929886', '$ 16.31', '52359299']]
1 includes a total of 6058967 performance-based share awards made under the 2004 , 2006 and 2009 performance incentive plan representing the target number of shares to be issued to employees following the completion of the 2007-2009 performance period ( the 201c2009 ltip share awards 201d ) , the 2008- 2010 performance period ( the 201c2010 ltip share awards 201d ) and the 2009-2011 performance period ( the 201c2011 ltip share awards 201d ) respectively .the computation of the weighted-average exercise price in column ( b ) of this table does not take the 2009 ltip share awards , the 2010 ltip share awards or the 2011 ltip share awards into account .2 includes a total of 3914804 restricted share unit and performance-based awards ( 201cshare unit awards 201d ) which may be settled in shares or cash .the computation of the weighted-average exercise price in column ( b ) of this table does not take the share unit awards into account .each share unit award actually settled in cash will increase the number of shares of common stock available for issuance shown in column ( c ) .3 includes ( i ) 37885502 shares of common stock available for issuance under the 2009 performance incentive plan , ( ii ) 13660306 shares of common stock available for issuance under the employee stock purchase plan ( 2006 ) and ( iii ) 813491 shares of common stock available for issuance under the 2009 non-management directors 2019 stock incentive plan .4 consists of special stock option grants awarded to certain true north executives following our acquisition of true north ( the 201ctrue north options 201d ) .the true north options have an exercise price equal to the fair market value of interpublic 2019s common stock on the date of the grant .the terms and conditions of these stock option awards are governed by interpublic 2019s 1997 performance incentive plan .generally , the options become exercisable between two and five years after the date of the grant and expire ten years from the grant date. .
|
what percentage of remaining securities are available for issuance under the 2009 non-management directors 2019 stock incentive plan .
|
1.55%
|
{
"answer": "1.55%",
"decimal": 0.0155,
"type": "percentage"
}
| |
system energy may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .all debt and common stock issuances by system energy require prior regulatory approval . a0 a0debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements . a0 a0system energy has sufficient capacity under these tests to meet its foreseeable capital needs .system energy 2019s receivables from the money pool were as follows as of december 31 for each of the following years. .
[['2017', '2016', '2015', '2014'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['$ 111667', '$ 33809', '$ 39926', '$ 2373']]
see note 4 to the financial statements for a description of the money pool .the system energy nuclear fuel company variable interest entity has a credit facility in the amount of $ 120 million scheduled to expire in may 2019 .as of december 31 , 2017 , $ 17.8 million in letters of credit to support a like amount of commercial paper issued and $ 50 million in loans were outstanding under the system energy nuclear fuel company variable interest entity credit facility .see note 4 to the financial statements for additional discussion of the variable interest entity credit facility .system energy obtained authorizations from the ferc through october 2019 for the following : 2022 short-term borrowings not to exceed an aggregate amount of $ 200 million at any time outstanding ; 2022 long-term borrowings and security issuances ; and 2022 long-term borrowings by its nuclear fuel company variable interest entity .see note 4 to the financial statements for further discussion of system energy 2019s short-term borrowing limits .system energy resources , inc .management 2019s financial discussion and analysis federal regulation see the 201crate , cost-recovery , and other regulation 2013 federal regulation 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis and note 2 to the financial statements for a discussion of federal regulation .complaint against system energy in january 2017 the apsc and mpsc filed a complaint with the ferc against system energy .the complaint seeks a reduction in the return on equity component of the unit power sales agreement pursuant to which system energy sells its grand gulf capacity and energy to entergy arkansas , entergy louisiana , entergy mississippi , and entergy new orleans .entergy arkansas also sells some of its grand gulf capacity and energy to entergy louisiana , entergy mississippi , and entergy new orleans under separate agreements .the current return on equity under the unit power sales agreement is 10.94% ( 10.94 % ) .the complaint alleges that the return on equity is unjust and unreasonable because current capital market and other considerations indicate that it is excessive .the complaint requests the ferc to institute proceedings to investigate the return on equity and establish a lower return on equity , and also requests that the ferc establish january 23 , 2017 as a refund effective date .the complaint includes return on equity analysis that purports to establish that the range of reasonable return on equity for system energy is between 8.37% ( 8.37 % ) and 8.67% ( 8.67 % ) .system energy answered the complaint in february 2017 and disputes that a return on equity of 8.37% ( 8.37 % ) to 8.67% ( 8.67 % ) is just and reasonable .the lpsc and the city council intervened in the proceeding expressing support for the complaint .system energy is recording a provision against revenue for the potential outcome of this proceeding .in september 2017 the ferc established a refund effective date of january 23 , 2017 , consolidated the return on equity complaint with the proceeding described in unit power sales agreement below , and directed the parties to engage in settlement .
|
what was the sum of the system energy 2019s receivables from 2014 to 2017
|
187775
|
{
"answer": "187775",
"decimal": 187775,
"type": "float"
}
| |
backlog backlog increased in 2015 compared to 2014 primarily due to higher orders on f-35 and c-130 programs .backlog decreased slightly in 2014 compared to 2013 primarily due to lower orders on f-16 and f-22 programs .trends we expect aeronautics 2019 2016 net sales to increase in the mid-single digit percentage range as compared to 2015 due to increased volume on the f-35 and c-130 programs , partially offset by decreased volume on the f-16 program .operating profit is also expected to increase in the low single-digit percentage range , driven by increased volume on the f-35 program offset by contract mix that results in a slight decrease in operating margins between years .information systems & global solutions our is&gs business segment provides advanced technology systems and expertise , integrated information technology solutions and management services across a broad spectrum of applications for civil , defense , intelligence and other government customers .is&gs 2019 technical services business provides a comprehensive portfolio of technical and sustainment services .is&gs has a portfolio of many smaller contracts as compared to our other business segments .is&gs has been impacted by the continued downturn in certain federal agencies 2019 information technology budgets and increased re-competition on existing contracts coupled with the fragmentation of large contracts into multiple smaller contracts that are awarded primarily on the basis of price .is&gs 2019 operating results included the following ( in millions ) : .
[['', '2015', '2014', '2013'], ['net sales', '$ 5596', '$ 5654', '$ 6115'], ['operating profit', '508', '472', '498'], ['operating margins', '9.1% ( 9.1 % )', '8.3% ( 8.3 % )', '8.1% ( 8.1 % )'], ['backlog at year-end', '$ 4800', '$ 6000', '$ 6300']]
2015 compared to 2014 is&gs 2019 net sales decreased $ 58 million , or 1% ( 1 % ) , in 2015 as compared to 2014 .the decrease was attributable to lower net sales of approximately $ 395 million as a result of key program completions , lower customer funding levels and increased competition , coupled with the fragmentation of existing large contracts into multiple smaller contracts that are awarded primarily on the basis of price when re-competed ( including cms-citic ) .these decreases were partially offset by higher net sales of approximately $ 230 million for businesses acquired in 2014 ; and approximately $ 110 million due to the start-up of new programs and growth in recently awarded programs .is&gs 2019 operating profit increased $ 36 million , or 8% ( 8 % ) , in 2015 as compared to 2014 .the increase was attributable to improved program performance and risk retirements , offset by decreased operating profit resulting from the activities mentioned above for net sales .adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 70 million higher in 2015 compared to 2014 .2014 compared to 2013 is&gs 2019 net sales decreased $ 461 million , or 8% ( 8 % ) , in 2014 as compared to 2013 .the decrease was primarily attributable to lower net sales of about $ 475 million due to the wind-down or completion of certain programs , driven by reductions in direct warfighter support ( including jieddo ) ; and approximately $ 320 million due to decreased volume in technical services programs reflecting market pressures .the decreases were offset by higher net sales of about $ 330 million due to the start-up of new programs , growth in recently awarded programs and integration of recently acquired companies .is&gs 2019 operating profit decreased $ 26 million , or 5% ( 5 % ) , in 2014 as compared to 2013 .the decrease was primarily attributable to the activities mentioned above for sales , partially offset by severance recoveries related to the restructuring announced in november 2013 of approximately $ 20 million in 2014 .adjustments not related to volume , including net profit booking rate adjustments , were comparable in 2014 and 2013. .
|
what was the percentage of the change in the backlog at year-end \\n
|
-4.8%
|
{
"answer": "-4.8%",
"decimal": -0.048,
"type": "percentage"
}
| |
part i item 1 entergy corporation , utility operating companies , and system energy asbestos litigation ( entergy arkansas , entergy gulf states louisiana , entergy louisiana , entergy mississippi , entergy new orleans , and entergy texas ) numerous lawsuits have been filed in federal and state courts primarily in texas and louisiana , primarily by contractor employees who worked in the 1940-1980s timeframe , against entergy gulf states louisiana and entergy texas , and to a lesser extent the other utility operating companies , as premises owners of power plants , for damages caused by alleged exposure to asbestos .many other defendants are named in these lawsuits as well .currently , there are approximately 500 lawsuits involving approximately 5000 claimants .management believes that adequate provisions have been established to cover any exposure .additionally , negotiations continue with insurers to recover reimbursements .management believes that loss exposure has been and will continue to be handled so that the ultimate resolution of these matters will not be material , in the aggregate , to the financial position or results of operation of the utility operating companies .employment and labor-related proceedings ( entergy corporation , entergy arkansas , entergy gulf states louisiana , entergy louisiana , entergy mississippi , entergy new orleans , entergy texas , and system energy ) the registrant subsidiaries and other entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees .generally , the amount of damages being sought is not specified in these proceedings .these actions include , but are not limited to , allegations of wrongful employment actions ; wage disputes and other claims under the fair labor standards act or its state counterparts ; claims of race , gender and disability discrimination ; disputes arising under collective bargaining agreements ; unfair labor practice proceedings and other administrative proceedings before the national labor relations board ; claims of retaliation ; and claims for or regarding benefits under various entergy corporation sponsored plans .entergy and the registrant subsidiaries are responding to these suits and proceedings and deny liability to the claimants .employees employees are an integral part of entergy 2019s commitment to serving customers .as of december 31 , 2011 , entergy subsidiaries employed 14682 people .utility: .
[['entergy arkansas', '1357'], ['entergy gulf states louisiana', '805'], ['entergy louisiana', '937'], ['entergy mississippi', '736'], ['entergy new orleans', '342'], ['entergy texas', '674'], ['system energy', '-'], ['entergy operations', '2867'], ['entergy services', '3138'], ['entergy nuclear operations', '3709'], ['other subsidiaries', '117'], ['total entergy', '14682']]
approximately 5300 employees are represented by the international brotherhood of electrical workers , the utility workers union of america , the international brotherhood of teamsters , the united government security officers of america , and the international union , security , police , fire professionals of america. .
|
what percentage of total entergy's employees are part of entergy texas?
|
4.6%
|
{
"answer": "4.6%",
"decimal": 0.046,
"type": "percentage"
}
| |
million ( $ 27.6 million at such time ) annually under its transmission contract with itvd .itvd represented approximately 12% ( 12 % ) of the 2001 revenues of ccuk and approximately 3% ( 3 % ) of the 2001 consolidated revenues of the company .in august 2002 , the itc granted the dtt multiplex licenses previously held by itvd to ccuk ( multiplex c and d ) and the bbc ( multiplex b , bringing the bbc 2019s total to two licenses ) .the dtt multiplex licenses awarded to ccuk have a term of 12 years , and ccuk has the right to renew the licenses for an additional term of 12 years subject to satisfaction of certain performance criteria .no license fees were paid to the u.k .government with respect to the award of the multiplex licenses other than an approximately $ 76000 application fee .following the award of such licenses , the current u.k .dtt multiplex licensing structure is as follows: .
[['multiplex', 'licensee', 'multiplex service provider', 'transmission service provider'], ['1', 'bbc', 'bbc technology ltd', 'ccuk'], ['2', 'digital 3&4 ltd', 'ntl', 'ntl'], ['a', 'sdn ltd', 'ntl', 'ntl'], ['b', 'bbc', 'bbc technology ltd', 'ccuk*'], ['c', 'ccuk', 'bbc technology ltd', 'ccuk*'], ['d', 'ccuk', 'bbc technology ltd', 'ccuk*']]
* broadcasting service provided in connection with freeview brand .on october 30 , 2002 , the bbc , ccuk and bskyb launched a multi-channel digital tv and radio broadcasting service under the brand 201cfreeview . 201d freeview is a free-to-air broadcast service and is received by viewers via a set- top box or other device .at the end of 2003 , there were approximately three million such devices in service , in contrast to the approximately 1.2 million set-top boxes in service with respect to itvd service 20 months prior .our revenue derived from broadcast transmission services ( including distribution and multiplexing ) relating to freeview is contractually based and therefore is not directly dependent on the number of freeview viewers .in connection with the launch of freeview , in august 2002 ccuk entered into an agreement with the bbc to provide broadcast transmission along with distribution service for the second multiplex license ( multiplex b ) awarded to the bbc .also in august 2002 , ccuk entered into an agreement with bskyb to provide broadcast transmission along with distribution and multiplexing service in relation to 75% ( 75 % ) of the capacity of one of the ccuk multiplexes ( multiplex c ) .both of these agreements are for an initial period of six years with options for the bbc and bskyb to extend for an additional six-year term .in addition , ccuk has entered into agreements to provide similar service to a number of tv , radio and interactive service content providers ( including uktv , flextech , viacom , emap , mietv , oneword , guardian media group and bbc world service ) through the two multiplexes awarded to ccuk .freeview related agreements with the television content providers are also for six-year terms , with renewal options , while agreements with radio and interactive service providers are generally for shorter terms .through such agreements , ccuk is currently transmitting content for such customers with respect to approximately 90% ( 90 % ) of its licensed capacity and is negotiating with content providers with respect to the remaining capacity .ccuk has contracted annual revenues of approximately a327.2 million ( $ 48.5 million ) for the provision of transmission , distribution and multiplexing services related to its multiplex licenses , which replaces the approximately a319.4 million annual revenues previously earned from the itvd contract and is in addition to the revenues generated from the 1998 bbc digital transmission contract .see 201cbusiness 2014the company 2014u.k .operations 2014significant contracts 20141998 bbc dtt transmission contract 201d , 201c 20142002 bbc dtt transmission contract 201d and 201c 2014bskyb and other freeview content dtt transmission contracts . 201d as a result of its previous contract with itvd , ccuk had already invested substantially all of the capital required to provide the freeview related broadcast transmission service described above .in addition , ccuk had previously been incurring , again by virtue of its previous contract with itvd , a large proportion of the operating costs required to provide these services ( including payments to bt for distribution circuits and payments to ntl for site rental ) .since ccuk is providing a more complete end-to-end service to content providers than was provided to itvd , ccuk is incurring certain additional annual operating costs of approximately a34.6 million ( $ 8.2 million ) .
|
what is the operating expense ratio for ccuk ( in millions ) ?
|
0.17
|
{
"answer": "0.17",
"decimal": 0.17,
"type": "float"
}
|
the operating expense ratio is the operating expensive divided by the revenue . line 19 has the revenue for ccuk and line 23 has the operating costs for ccuk .
|
entergy corporation and subsidiaries management 2019s financial discussion and analysis the miso deferral variance is primarily due to the deferral in 2014 of non-fuel miso-related charges , as approved by the lpsc and the mpsc .the deferral of non-fuel miso-related charges is partially offset in other operation and maintenance expenses .see note 2 to the financial statements for further discussion of the recovery of non-fuel miso-related charges .the waterford 3 replacement steam generator provision is due to a regulatory charge of approximately $ 32 million recorded in 2015 related to the uncertainty associated with the resolution of the waterford 3 replacement steam generator project .see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding .entergy wholesale commodities following is an analysis of the change in net revenue comparing 2015 to 2014 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2014 net revenue', '$ 2224'], ['nuclear realized price changes', '-310 ( 310 )'], ['vermont yankee shutdown in december 2014', '-305 ( 305 )'], ['nuclear volume excluding vermont yankee effect', '20'], ['other', '37'], ['2015 net revenue', '$ 1666']]
as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 558 million in 2015 primarily due to : 2022 lower realized wholesale energy prices , primarily due to significantly higher northeast market power prices in 2014 , and lower capacity prices in 2015 ; and 2022 a decrease in net revenue as a result of vermont yankee ceasing power production in december 2014 .the decrease was partially offset by higher volume in the entergy wholesale commodities nuclear fleet , excluding vermont yankee , resulting from fewer refueling outage days in 2015 as compared to 2014 , partially offset by more unplanned outage days in 2015 as compared to 2014. .
|
what is the growth rate of net revenue from 2014 to 2015 for entergy wholesale commodities?
|
-25.1%
|
{
"answer": "-25.1%",
"decimal": -0.251,
"type": "percentage"
}
| |
2015 and 2014 was $ 1.5 billion and $ 1.3 billion .the aggregate notional amount of our outstanding foreign currency hedges at december 31 , 2015 and 2014 was $ 4.1 billion and $ 804 million .derivative instruments did not have a material impact on net earnings and comprehensive income during 2015 , 2014 and 2013 .substantially all of our derivatives are designated for hedge accounting .see note 16 for more information on the fair value measurements related to our derivative instruments .recent accounting pronouncements 2013 in may 2014 , the fasb issued a new standard that will change the way we recognize revenue and significantly expand the disclosure requirements for revenue arrangements .on july 9 , 2015 , the fasb approved a one-year deferral of the effective date of the standard to 2018 for public companies , with an option that would permit companies to adopt the standard in 2017 .early adoption prior to 2017 is not permitted .the new standard may be adopted either retrospectively or on a modified retrospective basis whereby the new standard would be applied to new contracts and existing contracts with remaining performance obligations as of the effective date , with a cumulative catch-up adjustment recorded to beginning retained earnings at the effective date for existing contracts with remaining performance obligations .in addition , the fasb is contemplating making additional changes to certain elements of the new standard .we are currently evaluating the methods of adoption allowed by the new standard and the effect the standard is expected to have on our consolidated financial statements and related disclosures .as the new standard will supersede substantially all existing revenue guidance affecting us under gaap , it could impact revenue and cost recognition on thousands of contracts across all our business segments , in addition to our business processes and our information technology systems .as a result , our evaluation of the effect of the new standard will extend over future periods .in september 2015 , the fasb issued a new standard that simplifies the accounting for adjustments made to preliminary amounts recognized in a business combination by eliminating the requirement to retrospectively account for those adjustments .instead , adjustments will be recognized in the period in which the adjustments are determined , including the effect on earnings of any amounts that would have been recorded in previous periods if the accounting had been completed at the acquisition date .we adopted the standard on january 1 , 2016 and will prospectively apply the standard to business combination adjustments identified after the date of adoption .in november 2015 , the fasb issued a new standard that simplifies the presentation of deferred income taxes and requires that deferred tax assets and liabilities , as well as any related valuation allowance , be classified as noncurrent in our consolidated balance sheets .the standard is effective january 1 , 2017 , with early adoption permitted .the standard may be applied either prospectively from the date of adoption or retrospectively to all prior periods presented .we are currently evaluating when we will adopt the standard and the method of adoption .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 ) : .
[['', '2015', '2014', '2013'], ['weighted average common shares outstanding for basic computations', '310.3', '316.8', '320.9'], ['weighted average dilutive effect of equity awards', '4.4', '5.6', '5.6'], ['weighted average common shares outstanding for diluted computations', '314.7', '322.4', '326.5']]
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 and exercise of outstanding stock options based on the treasury stock method .the computation of diluted earnings per common share excluded 2.4 million stock options for the year ended december 31 , 2013 because their inclusion would have been anti-dilutive , primarily due to their exercise prices exceeding the average market prices of our common stock during the respective periods .there were no anti-dilutive equity awards for the years ended december 31 , 2015 and 2014. .
|
what was the ratio of the amount of our outstanding foreign currency hedges in 2015 compared to 2014
|
5.1
|
{
"answer": "5.1",
"decimal": 5.1,
"type": "float"
}
| |
during 2015 , continued management actions , primarily the sale or transfer to held-for-sale of approximately $ 1.5 billion of delinquent residential first mortgages , including $ 0.9 billion in the fourth quarter largely associated with the transfer of citifinancial loans to held-for-sale referenced above , were the primary driver of the overall improvement in delinquencies within citi holdings 2019 residential first mortgage portfolio .credit performance from quarter to quarter could continue to be impacted by the amount of delinquent loan sales or transfers to held-for-sale , as well as overall trends in hpi and interest rates .north america residential first mortgages 2014state delinquency trends the following tables set forth the six u.s .states and/or regions with the highest concentration of citi 2019s residential first mortgages. .
[['in billions of dollars state ( 1 )', 'in billions of dollars enr ( 2 )', 'in billions of dollars enrdistribution', 'in billions of dollars 90+dpd% ( 90+dpd % )', 'in billions of dollars %ltv >100% ( >100 % ) ( 3 )', 'in billions of dollars refreshedfico', 'in billions of dollars enr ( 2 )', 'in billions of dollars enrdistribution', 'in billions of dollars 90+dpd% ( 90+dpd % )', '%ltv >100% ( >100 % ) ( 3 )', 'refreshedfico'], ['ca', '$ 19.2', '37% ( 37 % )', '0.2% ( 0.2 % )', '1% ( 1 % )', '754', '$ 18.9', '31% ( 31 % )', '0.6% ( 0.6 % )', '2% ( 2 % )', '745'], ['ny/nj/ct ( 4 )', '12.7', '25', '0.8', '1', '751', '12.2', '20', '1.9', '2', '740'], ['va/md', '2.2', '4', '1.2', '2', '719', '3.0', '5', '3.0', '8', '695'], ['il ( 4 )', '2.2', '4', '1.0', '3', '735', '2.5', '4', '2.5', '9', '713'], ['fl ( 4 )', '2.2', '4', '1.1', '4', '723', '2.8', '5', '3.0', '14', '700'], ['tx', '1.9', '4', '1.0', '2014', '711', '2.5', '4', '2.7', '2014', '680'], ['other', '11.0', '21', '1.3', '2', '710', '18.2', '30', '3.3', '7', '677'], ['total ( 5 )', '$ 51.5', '100% ( 100 % )', '0.7% ( 0.7 % )', '1% ( 1 % )', '738', '$ 60.1', '100% ( 100 % )', '2.1% ( 2.1 % )', '4% ( 4 % )', '715']]
total ( 5 ) $ 51.5 100% ( 100 % ) 0.7% ( 0.7 % ) 1% ( 1 % ) 738 $ 60.1 100% ( 100 % ) 2.1% ( 2.1 % ) 4% ( 4 % ) 715 note : totals may not sum due to rounding .( 1 ) certain of the states are included as part of a region based on citi 2019s view of similar hpi within the region .( 2 ) ending net receivables .excludes loans in canada and puerto rico , loans guaranteed by u.s .government agencies , loans recorded at fair value and loans subject to long term standby commitments ( ltscs ) .excludes balances for which fico or ltv data are unavailable .( 3 ) ltv ratios ( loan balance divided by appraised value ) are calculated at origination and updated by applying market price data .( 4 ) new york , new jersey , connecticut , florida and illinois are judicial states .( 5 ) improvement in state trends during 2015 was primarily due to the sale or transfer to held-for-sale of residential first mortgages , including the transfer of citifinancial residential first mortgages to held-for-sale in the fourth quarter of 2015 .foreclosures a substantial majority of citi 2019s foreclosure inventory consists of residential first mortgages .at december 31 , 2015 , citi 2019s foreclosure inventory included approximately $ 0.1 billion , or 0.2% ( 0.2 % ) , of the total residential first mortgage portfolio , compared to $ 0.6 billion , or 0.9% ( 0.9 % ) , at december 31 , 2014 , based on the dollar amount of ending net receivables of loans in foreclosure inventory , excluding loans that are guaranteed by u.s .government agencies and loans subject to ltscs .north america consumer mortgage quarterly credit trends 2014net credit losses and delinquencies 2014home equity citi 2019s home equity loan portfolio consists of both fixed-rate home equity loans and loans extended under home equity lines of credit .fixed-rate home equity loans are fully amortizing .home equity lines of credit allow for amounts to be drawn for a period of time with the payment of interest only and then , at the end of the draw period , the then-outstanding amount is converted to an amortizing loan ( the interest-only payment feature during the revolving period is standard for this product across the industry ) .after conversion , the home equity loans typically have a 20-year amortization period .as of december 31 , 2015 , citi 2019s home equity loan portfolio of $ 22.8 billion consisted of $ 6.3 billion of fixed-rate home equity loans and $ 16.5 billion of loans extended under home equity lines of credit ( revolving helocs ) . .
|
what percentage of citi's home equity portfolio as of december 31 , 2015 was comprised of fixed-rate home equity loans?
|
28%
|
{
"answer": "28%",
"decimal": 0.28,
"type": "percentage"
}
| |
l iquidity and capital resources we have historically generated positive cash flow from operations and have generally used funds generated from operations and short-term borrowings on our revolving credit facility to meet capital requirements .we expect this trend to continue in the future .the company's cash and cash equivalents decreased to $ 65565 at june 30 , 2008 from $ 88617 at june 30 , 2007 .the following table summarizes net cash from operating activities in the statement of cash flows : year ended june 30 cash provided by operations increased $ 6754 to $ 181001 for the fiscal year ended june 30 , 2008 as compared to $ 174247 for the fiscal year ended june 30 , 2007 .this increase is primarily attributable to an increase in expenses that do not have a corresponding cash outflow , such as depreciation and amortization , as a percentage of total net income .cash used in investing activities for the fiscal year ended june 2008 was $ 102148 and includes payments for acquisitions of $ 48109 , plus $ 1215 in contingent consideration paid on prior years 2019 acquisitions .during fiscal 2007 , payments for acquisitions totaled $ 34006 , plus $ 5301 paid on earn-outs and other acquisition adjustments .capital expenditures for fiscal 2008 were $ 31105 compared to $ 34202 for fiscal 2007 .cash used for software development in fiscal 2008 was $ 23736 compared to $ 20743 during the prior year .net cash used in financing activities for the current fiscal year was $ 101905 and includes the repurchase of 4200 shares of our common stock for $ 100996 , the payment of dividends of $ 24683 and $ 429 net repayment on our revolving credit facilities .cash used in financing activities was partially offset by proceeds of $ 20394 from the exercise of stock options and the sale of common stock and $ 3809 excess tax benefits from stock option exercises .during fiscal 2007 , net cash used in financing activities included the repurchase of our common stock for $ 98413 and the payment of dividends of $ 21685 .as in the current year , cash used in fiscal 2007 was partially offset by proceeds from the exercise of stock options and the sale of common stock of $ 29212 , $ 4640 excess tax benefits from stock option exercises and $ 19388 net borrowings on revolving credit facilities .at june 30 , 2008 , the company had negative working capital of $ 11418 ; however , the largest component of current liabilities was deferred revenue of $ 212375 .the cash outlay necessary to provide the services related to these deferred revenues is significantly less than this recorded balance .therefore , we do not anticipate any liquidity problems to result from this condition .u.s .financial markets and many of the largest u.s .financial institutions have recently been shaken by negative developments in the home mortgage industry and the mortgage markets , and particularly the markets for subprime mortgage-backed securities .while we believe it is too early to predict what effect , if any , these developments may have , we have not experienced any significant issues with our current collec- tion efforts , and we believe that any future impact to our liquidity would be minimized by our access to available lines of credit .2008 2007 2006 .
[['2007', 'year ended june 30 2008 2007', 'year ended june 30 2008 2007', 'year ended june 30 2008'], ['net income', '$ 104222', '$ 104681', '$ 89923'], ['non-cash expenses', '70420', '56348', '52788'], ['change in receivables', '-2913 ( 2913 )', '-28853 ( 28853 )', '30413'], ['change in deferred revenue', '5100', '24576', '10561'], ['change in other assets and liabilities', '4172', '17495', '-14247 ( 14247 )'], ['net cash from operating activities', '$ 181001', '$ 174247', '$ 169438']]
.
|
what was change in millions of cash used for software development in fiscal 2008 compared to the prior year?
|
2993
|
{
"answer": "2993",
"decimal": 2993,
"type": "float"
}
| |
transfer agent and registrar for common stock the transfer agent and registrar for our common stock is : computershare shareowner services llc 480 washington boulevard 29th floor jersey city , new jersey 07310 telephone : ( 877 ) 363-6398 sales of unregistered securities not applicable .repurchase of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2014 to december 31 , 2014 .total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 .
[['', 'total number ofshares ( or units ) purchased1', 'average price paidper share ( or unit ) 2', 'total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3', 'maximum number ( or approximate dollar value ) of shares ( or units ) that mayyet be purchased under theplans or programs3'], ['october 1 - 31', '5854930', '$ 18.93', '5849517', '$ 159819370'], ['november 1 - 30', '4266', '$ 20.29', '2014', '$ 159819370'], ['december 1 - 31', '826744', '$ 19.67', '826639', '$ 143559758'], ['total', '6685940', '$ 19.02', '6676156', '']]
1 included shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .we repurchased 5413 withheld shares in october 2014 , 4266 withheld shares in november 2014 and 105 withheld shares in december 2014 .2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our stock repurchase program , described in note 5 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our stock repurchase program .3 in february 2014 , the board authorized a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2014 share repurchase program 201d ) .on february 13 , 2015 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock .the new authorization is in addition to any amounts remaining available for repurchase under the 2014 share repurchase program .there is no expiration date associated with the share repurchase programs. .
|
what was the percentage decrease between total number of shares purchased in october and november?
|
99.93%
|
{
"answer": "99.93%",
"decimal": 0.9993000000000001,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements the allocation of the purchase price was finalized during the year ended december 31 , 2012 .the following table summarizes the allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : purchase price allocation .
[['', 'final purchase price allocation'], ['non-current assets', '$ 2'], ['property and equipment', '3590'], ['intangible assets ( 1 )', '1062'], ['other non-current liabilities', '-91 ( 91 )'], ['fair value of net assets acquired', '$ 4563'], ['goodwill ( 2 )', '89']]
( 1 ) consists of customer-related intangibles of approximately $ 0.4 million and network location intangibles of approximately $ 0.7 million .the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .( 2 ) the company expects that the goodwill recorded will be deductible for tax purposes .the goodwill was allocated to the company 2019s international rental and management segment .colombia 2014colombia movil acquisition 2014on july 17 , 2011 , the company entered into a definitive agreement with colombia movil s.a .e.s.p .( 201ccolombia movil 201d ) , whereby atc sitios infraco , s.a.s. , a colombian subsidiary of the company ( 201catc infraco 201d ) , would purchase up to 2126 communications sites from colombia movil for an aggregate purchase price of approximately $ 182.0 million .from december 21 , 2011 through the year ended december 31 , 2012 , atc infraco completed the purchase of 1526 communications sites for an aggregate purchase price of $ 136.2 million ( including contingent consideration of $ 17.3 million ) , subject to post-closing adjustments .through a subsidiary , millicom international cellular s.a .( 201cmillicom 201d ) exercised its option to acquire an indirect , substantial non-controlling interest in atc infraco .under the terms of the agreement , the company is required to make additional payments upon the conversion of certain barter agreements with other wireless carriers to cash paying lease agreements .based on the company 2019s current estimates , the value of potential contingent consideration payments required to be made under the amended agreement is expected to be between zero and $ 32.8 million and is estimated to be $ 17.3 million using a probability weighted average of the expected outcomes at december 31 , 2012 .during the year ended december 31 , 2012 , the company recorded a reduction in fair value of $ 1.2 million , which is included in other operating expenses in the consolidated statements of operations. .
|
for the 2012 acquisition , hard assets were what percent of the total fair value of net assets acquired?
|
79%
|
{
"answer": "79%",
"decimal": 0.79,
"type": "percentage"
}
|
ppe - hard assets
|
entergy corporation notes to consolidated financial statements the annual long-term debt maturities ( excluding lease obligations ) for debt outstanding as of december 31 , 2004 , for the next five years are as follows: .
[['', '( in thousands )'], ['2005', '$ 467298'], ['2006', '$ 75896'], ['2007', '$ 199539'], ['2008', '$ 747246'], ['2009', '$ 512584']]
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 domestic utility 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 domestic utility companies default on other indebtedness or are in bankruptcy or insolvency proceedings , an acceleration of the notes' maturity dates may occur .the long-term securities issuances of entergy corporation , entergy gulf states , entergy louisiana , entergy mississippi , and system energy also are limited to amounts authorized by the sec .under its current sec order , and without further authorization , entergy corporation cannot incur additional indebtedness or issue other securities unless ( a ) it and each of its public utility subsidiaries maintain a common equity ratio of at least 30% ( 30 % ) and ( b ) the security to be issued ( if rated ) and all outstanding securities of entergy corporation that are rated , are rated investment grade by at least one nationally recognized statistical rating agency .under their current sec orders , and without further authorization , entergy gulf states , entergy louisiana , and entergy mississippi cannot incur additional indebtedness or issue other securities unless ( a ) the issuer and entergy corporation maintains a common equity ratio of at least 30% ( 30 % ) and ( b ) the security to be issued ( if rated ) and all outstanding securities of the issuer ( other than preferred stock of entergy gulf states ) , as well as all outstanding securities of entergy corporation , that are rated , are rated investment grade .junior subordinated deferrable interest debentures and implementation of fin 46 entergy implemented fasb interpretation no .46 , "consolidation of variable interest entities" effective december 31 , 2003 .fin 46 requires existing unconsolidated variable interest entities to be consolidated by their primary beneficiaries if the entities do not effectively disperse risks among their investors .variable interest entities ( vies ) , generally , are entities that do not have sufficient equity to permit the entity to finance its operations without additional financial support from its equity interest holders and/or the group of equity interest holders are collectively not able to exercise control over the entity .the primary beneficiary is the party that absorbs a majority of the entity's expected losses , receives a majority of its expected residual returns , or both as a result of holding the variable interest .a company may have an interest in a vie through ownership or other contractual rights or obligations .entergy louisiana capital i , entergy arkansas capital i , and entergy gulf states capital i ( trusts ) were established as financing subsidiaries of entergy louisiana , entergy arkansas , and entergy gulf states .
|
what amount of long-term debt is due in the next 24 months for entergy corporation as of december 31 , 2004 , in millions?
|
543.2
|
{
"answer": "543.2",
"decimal": 543.2,
"type": "float"
}
| |
notes to consolidated financial statements jpmorgan chase & co./2009 annual report 204 on the amount of interest income recognized in the firm 2019s consolidated statements of income since that date .( b ) other changes in expected cash flows include the net impact of changes in esti- mated prepayments and reclassifications to the nonaccretable difference .on a quarterly basis , the firm updates the amount of loan principal and interest cash flows expected to be collected , incorporating assumptions regarding default rates , loss severities , the amounts and timing of prepayments and other factors that are reflective of current market conditions .probable decreases in expected loan principal cash flows trigger the recognition of impairment , which is then measured as the present value of the expected principal loss plus any related foregone interest cash flows discounted at the pool 2019s effective interest rate .impairments that occur after the acquisition date are recognized through the provision and allow- ance for loan losses .probable and significant increases in expected principal cash flows would first reverse any previously recorded allowance for loan losses ; any remaining increases are recognized prospectively as interest income .the impacts of ( i ) prepayments , ( ii ) changes in variable interest rates , and ( iii ) any other changes in the timing of expected cash flows are recognized prospectively as adjustments to interest income .disposals of loans , which may include sales of loans , receipt of payments in full by the borrower , or foreclosure , result in removal of the loan from the purchased credit-impaired portfolio .if the timing and/or amounts of expected cash flows on these purchased credit-impaired loans were determined not to be rea- sonably estimable , no interest would be accreted and the loans would be reported as nonperforming loans ; however , since the timing and amounts of expected cash flows for these purchased credit-impaired loans are reasonably estimable , interest is being accreted and the loans are being reported as performing loans .charge-offs are not recorded on purchased credit-impaired loans until actual losses exceed the estimated losses that were recorded as purchase accounting adjustments at acquisition date .to date , no charge-offs have been recorded for these loans .purchased credit-impaired loans acquired in the washington mu- tual transaction are reported in loans on the firm 2019s consolidated balance sheets .in 2009 , an allowance for loan losses of $ 1.6 billion was recorded for the prime mortgage and option arm pools of loans .the net aggregate carrying amount of the pools that have an allowance for loan losses was $ 47.2 billion at december 31 , 2009 .this allowance for loan losses is reported as a reduction of the carrying amount of the loans in the table below .the table below provides additional information about these pur- chased credit-impaired consumer loans. .
[['december 31 ( in millions )', '2009', '2008'], ['outstanding balance ( a )', '$ 103369', '$ 118180'], ['carrying amount', '79664', '88813']]
( a ) represents the sum of contractual principal , interest and fees earned at the reporting date .purchased credit-impaired loans are also being modified under the mha programs and the firm 2019s other loss mitigation programs .for these loans , the impact of the modification is incorporated into the firm 2019s quarterly assessment of whether a probable and/or signifi- cant change in estimated future cash flows has occurred , and the loans continue to be accounted for as and reported as purchased credit-impaired loans .foreclosed property the firm acquires property from borrowers through loan restructur- ings , workouts , and foreclosures , which is recorded in other assets on the consolidated balance sheets .property acquired may include real property ( e.g. , land , buildings , and fixtures ) and commercial and personal property ( e.g. , aircraft , railcars , and ships ) .acquired property is valued at fair value less costs to sell at acquisition .each quarter the fair value of the acquired property is reviewed and adjusted , if necessary .any adjustments to fair value in the first 90 days are charged to the allowance for loan losses and thereafter adjustments are charged/credited to noninterest revenue 2013other .operating expense , such as real estate taxes and maintenance , are charged to other expense .note 14 2013 allowance for credit losses the allowance for loan losses includes an asset-specific component , a formula-based component and a component related to purchased credit-impaired loans .the asset-specific component relates to loans considered to be impaired , which includes any loans that have been modified in a troubled debt restructuring as well as risk-rated loans that have been placed on nonaccrual status .an asset-specific allowance for impaired loans is established when the loan 2019s discounted cash flows ( or , when available , the loan 2019s observable market price ) is lower than the recorded investment in the loan .to compute the asset-specific component of the allowance , larger loans are evaluated individually , while smaller loans are evaluated as pools using historical loss experience for the respective class of assets .risk-rated loans ( primarily wholesale loans ) are pooled by risk rating , while scored loans ( i.e. , consumer loans ) are pooled by product type .the firm generally measures the asset-specific allowance as the difference between the recorded investment in the loan and the present value of the cash flows expected to be collected , dis- counted at the loan 2019s original effective interest rate .subsequent changes in measured impairment due to the impact of discounting are reported as an adjustment to the provision for loan losses , not as an adjustment to interest income .an asset-specific allowance for an impaired loan with an observable market price is measured as the difference between the recorded investment in the loan and the loan 2019s fair value .certain impaired loans that are determined to be collateral- dependent are charged-off to the fair value of the collateral less costs to sell .when collateral-dependent commercial real-estate loans are determined to be impaired , updated appraisals are typi- cally obtained and updated every six to twelve months .the firm also considers both borrower- and market-specific factors , which .
|
in 2009 , what percentage of its net aggregate carrying amount did the firm record as its allowance for loan losses?
|
3.4%
|
{
"answer": "3.4%",
"decimal": 0.034,
"type": "percentage"
}
|
the firm's allowance for loan losses , $ 1.6 billion , came from an aggregate pool of $ 47.2 billion .
|
humana inc .notes to consolidated financial statements 2014 ( continued ) the grant-date fair value of the award will be estimated using option-pricing models .in addition , certain tax effects of stock option exercises will be reported as a financing activity rather than an operating activity in the statements of cash flows .we adopted sfas 123r on january 1 , 2006 under the retrospective transition method using the black-scholes pricing model .the effect of expensing stock options under a fair value approach using the black-scholes pricing model on diluted earnings per common share for the years ended december 31 , 2005 , 2004 and 2003 is disclosed on page 69 .in addition , the classification of cash inflows from any excess tax benefit associated with exercising stock options will change from an operating activity to a financing activity in the consolidated statements of cash flows with no impact on total cash flows .we estimate the impact of this change in classification will decrease operating cash flows ( and increase financing cash flows ) by approximately $ 15.5 million in 2005 , $ 3.7 million in 2004 , and $ 15.2 million in 2003 .stock option expense after adopting sfas 123r is not expected to be materially different than our pro forma disclosure on page 69 and is dependent on levels of stock options granted during 2006 .3 .acquisitions in january 2006 , our commercial segment reached an agreement to acquire cha service company , or cha health , a health plan serving employer groups in kentucky , for cash consideration of approximately $ 60.0 million plus any excess statutory surplus .this transaction , which is subject to regulatory approval , is expected to close effective in the second quarter of 2006 .on december 20 , 2005 , our commercial segment acquired corphealth , inc. , or corphealth , a behavioral health care management company , for cash consideration of approximately $ 54.2 million , including transaction costs .this acquisition allows humana to integrate coverage of medical and behavior health benefits .net tangible assets acquired of $ 6.0 million primarily consisted of cash and cash equivalents .the purchase price exceeded the estimated fair value of the net tangible assets acquired by approximately $ 48.2 million .we preliminarily allocated this excess purchase price to other intangible assets of $ 8.6 million and associated deferred tax liabilities of $ 3.2 million , and non-deductible goodwill of $ 42.8 million .the other intangible assets , which consist primarily of customer contracts , have a weighted average useful life of 14.7 years .the allocation is subject to change pending completion of the valuation by a third party valuation specialist firm assisting us in evaluating the fair value of the assets acquired .on february 16 , 2005 , our government segment acquired careplus health plans of florida , or careplus , as well as its affiliated 10 medical centers and pharmacy company .careplus provides medicare advantage hmo plans and benefits to medicare advantage members in miami-dade , broward and palm beach counties .this acquisition enhances our medicare market position in south florida .we paid approximately $ 444.9 million in cash , including transaction costs .we financed the transaction with $ 294.0 million of borrowings under our credit agreement and $ 150.9 million of cash on hand .the purchase price is subject to a balance sheet settlement process with a nine month claims run-out period .this settlement , which will be reflected as an adjustment to goodwill , is not expected to be material .the fair value of the acquired tangible assets ( assumed liabilities ) consisted of the following: .
[['', '( in thousands )'], ['cash and cash equivalents', '$ 92116'], ['premiums receivable and other current assets', '6510'], ['property and equipment and other assets', '21315'], ['medical and other expenses payable', '-37375 ( 37375 )'], ['other current liabilities', '-23359 ( 23359 )'], ['other liabilities', '-5915 ( 5915 )'], ['net tangible assets acquired', '$ 53292']]
.
|
what is the total value of liabilities , in thousands?
|
66649
|
{
"answer": "66649",
"decimal": 66649,
"type": "float"
}
|
it is the sum of all liabilities.\\n
|
notes to consolidated financial statements regulatory tax examinations the firm is subject to examination by the u.s .internal revenue service ( irs ) and other taxing authorities in jurisdictions where the firm has significant business operations , such as the united kingdom , japan , hong kong , korea and various states , such as new york .the tax years under examination vary by jurisdiction .the firm believes that during 2013 , certain audits have a reasonable possibility of being completed .the firm does not expect completion of these audits to have a material impact on the firm 2019s financial condition but it may be material to operating results for a particular period , depending , in part , on the operating results for that period .the table below presents the earliest tax years that remain subject to examination by major jurisdiction .jurisdiction december 2012 u.s .federal 1 2005 new york state and city 2 2004 .
[['jurisdiction', 'as of december 2012'], ['u.s . federal1', '2005'], ['new york state and city2', '2004'], ['united kingdom', '2007'], ['japan3', '2008'], ['hong kong', '2005'], ['korea', '2008']]
1 .irs examination of fiscal 2008 through calendar 2010 began during 2011 .irs examination of fiscal 2005 , 2006 and 2007 began during 2008 .irs examination of fiscal 2003 and 2004 has been completed , but the liabilities for those years are not yet final .the firm anticipates that the audits of fiscal 2005 through calendar 2010 should be completed during 2013 , and the audits of 2011 through 2012 should begin in 2013 .2 .new york state and city examination of fiscal 2004 , 2005 and 2006 began in 2008 .3 .japan national tax agency examination of fiscal 2005 through 2009 began in 2010 .the examinations have been completed , but the liabilities for 2008 and 2009 are not yet final .all years subsequent to the above remain open to examination by the taxing authorities .the firm believes that the liability for unrecognized tax benefits it has established is adequate in relation to the potential for additional assessments .in january 2013 , the firm was accepted into the compliance assurance process program by the irs .this program will allow the firm to work with the irs to identify and resolve potential u.s .federal tax issues before the filing of tax returns .the 2013 tax year will be the first year examined under the program .note 25 .business segments the firm reports its activities in the following four business segments : investment banking , institutional client services , investing & lending and investment management .basis of presentation in reporting segments , certain of the firm 2019s business lines have been aggregated where they have similar economic characteristics and are similar in each of the following areas : ( i ) the nature of the services they provide , ( ii ) their methods of distribution , ( iii ) the types of clients they serve and ( iv ) the regulatory environments in which they operate .the cost drivers of the firm taken as a whole 2014 compensation , headcount and levels of business activity 2014 are broadly similar in each of the firm 2019s business segments .compensation and benefits expenses in the firm 2019s segments reflect , among other factors , the overall performance of the firm as well as the performance of individual businesses .consequently , pre-tax margins in one segment of the firm 2019s business may be significantly affected by the performance of the firm 2019s other business segments .the firm allocates assets ( including allocations of excess liquidity and cash , secured client financing and other assets ) , revenues and expenses among the four reportable business segments .due to the integrated nature of these segments , estimates and judgments are made in allocating certain assets , revenues and expenses .transactions between segments are based on specific criteria or approximate third-party rates .total operating expenses include corporate items that have not been allocated to individual business segments .the allocation process is based on the manner in which management currently views the performance of the segments .goldman sachs 2012 annual report 195 .
|
how many years longer is the u.s . federal exam than the new york state and city exam?
|
1
|
{
"answer": "1",
"decimal": 1,
"type": "float"
}
| |
as of september 24 , 2011 , the total amount of gross unrecognized tax benefits was $ 1.4 billion , of which $ 563 million , if recognized , would affect the company 2019s effective tax rate .as of september 25 , 2010 , the total amount of gross unrecognized tax benefits was $ 943 million , of which $ 404 million , if recognized , would affect the company 2019s effective tax rate .the aggregate changes in the balance of gross unrecognized tax benefits , which excludes interest and penalties , for the three years ended september 24 , 2011 , is as follows ( in millions ) : .
[['', '2011', '2010', '2009'], ['beginning balance', '$ 943', '971', '$ 506'], ['increases related to tax positions taken during a prior year', '49', '61', '341'], ['decreases related to tax positions taken during a prior year', '-39 ( 39 )', '-224 ( 224 )', '-24 ( 24 )'], ['increases related to tax positions taken during the current year', '425', '240', '151'], ['decreases related to settlements with taxing authorities', '0', '-102 ( 102 )', '0'], ['decreases related to expiration of statute of limitations', '-3 ( 3 )', '-3 ( 3 )', '-3 ( 3 )'], ['ending balance', '$ 1375', '$ 943', '$ 971']]
the company includes interest and penalties related to unrecognized tax benefits within the provision for income taxes .as of september 24 , 2011 and september 25 , 2010 , the total amount of gross interest and penalties accrued was $ 261 million and $ 247 million , respectively , which is classified as non-current liabilities in the consolidated balance sheets .in connection with tax matters , the company recognized interest expense in 2011 and 2009 of $ 14 million and $ 64 million , respectively , and in 2010 the company recognized an interest benefit of $ 43 million .the company is subject to taxation and files income tax returns in the u.s .federal jurisdiction and in many state and foreign jurisdictions .for u.s .federal income tax purposes , all years prior to 2004 are closed .the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments .the company has contested certain of these adjustments through the irs appeals office .the irs is currently examining the years 2007 through 2009 .in addition , the company is also subject to audits by state , local and foreign tax authorities .in major states and major foreign jurisdictions , the years subsequent to 1988 and 2001 , respectively , generally remain open and could be subject to examination by the taxing authorities .management believes that an adequate provision has been made for any adjustments that may result from tax examinations .however , the outcome of tax audits cannot be predicted with certainty .if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income tax in the period such resolution occurs .although timing of the resolution and/or closure of audits is not certain , the company does not believe it is reasonably possible that its unrecognized tax benefits would materially change in the next 12 months .note 6 2013 shareholders 2019 equity and share-based compensation preferred stock the company has five million shares of authorized preferred stock , none of which is issued or outstanding .under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock .comprehensive income comprehensive income consists of two components , net income and other comprehensive income .other comprehensive income refers to revenue , expenses , gains and losses that under gaap are recorded as an element .
|
what was the net change in millions of the gross unrecognized tax benefits between 2010 and 2011?
|
432
|
{
"answer": "432",
"decimal": 432,
"type": "float"
}
| |
n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( continued ) ace limited and subsidiaries the following table shows changes in the company 2019s restricted stock for the years ended december 31 , 2008 , 2007 , and 2006 : number of restricted stock weighted average grant- date fair value .
[['', 'number of restricted stock', 'weighted average grant- date fair value'], ['unvested restricted stock december 31 2005', '3488668', '$ 41.26'], ['granted', '1632504', '$ 56.05'], ['vested and issued', '-1181249 ( 1181249 )', '$ 40.20'], ['forfeited', '-360734 ( 360734 )', '$ 44.04'], ['unvested restricted stock december 31 2006', '3579189', '$ 48.07'], ['granted', '1818716', '$ 56.45'], ['vested and issued', '-1345412 ( 1345412 )', '$ 44.48'], ['forfeited', '-230786 ( 230786 )', '$ 51.57'], ['unvested restricted stock december 31 2007', '3821707', '$ 53.12'], ['granted', '1836532', '$ 59.84'], ['vested and issued', '-1403826 ( 1403826 )', '$ 50.96'], ['forfeited', '-371183 ( 371183 )', '$ 53.75'], ['unvested restricted stock december 31 2008', '3883230', '$ 57.01']]
under the provisions of fas 123r , the recognition of deferred compensation , a contra-equity account representing the amount of unrecognized restricted stock expense that is reduced as expense is recognized , at the date restricted stock is granted is no longer permitted .therefore , upon adoption of fas 123r , the amount of deferred compensation that had been reflected in unearned stock grant compensation was reclassified to additional paid-in capital in the company 2019s consolidated balance sheet .restricted stock units the company 2019s 2004 ltip also provides for grants of other awards , including restricted stock units .the company generally grants restricted stock units with a 4-year vesting period , based on a graded vesting schedule .each restricted stock unit repre- sents the company 2019s obligation to deliver to the holder one share of common shares upon vesting .during 2008 , the company awarded 223588 restricted stock units to officers of the company and its subsidiaries with a weighted-average grant date fair value of $ 59.93 .during 2007 , 108870 restricted stock units , with a weighted-average grant date fair value of $ 56.29 were awarded to officers of the company and its subsidiaries .during 2006 , 83370 restricted stock units , with a weighted-average grant date fair value of $ 56.36 were awarded to officers of the company and its subsidiaries .the company also grants restricted stock units with a 1-year vesting period to non-management directors .delivery of common shares on account of these restricted stock units to non-management directors is deferred until six months after the date of the non-management directors 2019 termination from the board .during 2008 , 2007 , and 2006 , 40362 restricted stock units , 29676 restricted stock units , and 23092 restricted stock units , respectively , were awarded to non-management direc- the espp gives participating employees the right to purchase common shares through payroll deductions during consecutive 201csubscription periods . 201d annual purchases by participants are limited to the number of whole shares that can be purchased by an amount equal to ten percent of the participant 2019s compensation or $ 25000 , whichever is less .the espp has two six-month subscription periods , the first of which runs between january 1 and june 30 and the second of which runs between july 1 and december 31 of each year .the amounts that have been collected from participants during a subscription period are used on the 201cexercise date 201d to purchase full shares of common shares .an exercise date is generally the last trading day of a sub- scription period .the number of shares purchased is equal to the total amount , as of the exercise date , that has been collected from the participants through payroll deductions for that subscription period , divided by the 201cpurchase price 201d , rounded down to the next full share .effective for and from the second subscription period of 2007 , the purchase price is 85 percent of the fair value of a common share on the exercise date .prior to the second subscription period of 2007 , the purchase price was calculated as the lower of ( i ) 85 percent of the fair value of a common share on the first day of the subscription period , or .
|
what is the net change in the number of unvested restricted stocks in 2008?
|
61523
|
{
"answer": "61523",
"decimal": 61523,
"type": "float"
}
| |
building .the construction of the building was completed in december 2003 .due to lower than expected financing and construction costs , the final lease balance was lowered to $ 103.0 million .as part of the agreement , we entered into a five-year lease that began upon the completion of the building .at the end of the lease term , we can purchase the building for the lease balance , remarket or relinquish the building .if we choose to remarket or are required to do so upon relinquishing the building , we are bound to arrange the sale of the building to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 90.8 million ( 201cresidual value guarantee 201d ) .see note 14 in our notes to consolidated financial statements for further information .in august 1999 , we entered into a five-year lease agreement for our other two office buildings that currently serve as our corporate headquarters in san jose , california .under the agreement , we have the option to purchase the buildings at any time during the lease term for the lease balance , which is approximately $ 142.5 million .we are in the process of evaluating alternative financing methods at expiration of the lease in fiscal 2004 and believe that several suitable financing options will be available to us .at the end of the lease term , we can purchase the buildings for the lease balance , remarket or relinquish the buildings .if we choose to remarket or are required to do so upon relinquishing the buildings , we are bound to arrange the sale of the buildings to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 132.6 million ( 201cresidual value guarantee 201d ) .for further information , see note 14 in our notes to consolidated financial statements .the two lease agreements discussed above are subject to standard financial covenants .the agreements limit the amount of indebtedness we can incur .a leverage covenant requires us to keep our debt to ebitda ratio less than 2.5:1.0 .as of november 28 , 2003 , our debt to ebitda ratio was 0.53:1.0 , well within the limit .we also have a liquidity covenant which requires us to maintain a quick ratio equal to or greater than 1.0 .as of november 28 , 2003 , our quick ratio was 2.2 , well above the minimum .we expect to remain within compliance in the next 12 months .we are comfortable with these limitations and believe they will not impact our cash or credit in the coming year or restrict our ability to execute our business plan .the following table summarizes our contractual commitments as of november 28 , 2003 : less than over total 1 year 1 2013 3 years 3-5 years 5 years non-cancelable operating leases , net of sublease income ................ .$ 83.9 $ 23.6 $ 25.9 $ 16.3 $ 18.1 indemnifications in the normal course of business , we provide indemnifications of varying scope to customers against claims of intellectual property infringement made by third parties arising from the use of our products .historically , costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations .we have commitments to make certain milestone and/or retention payments typically entered into in conjunction with various acquisitions , for which we have made accruals in our consolidated financial statements .in connection with our purchases of technology assets during fiscal 2003 , we entered into employee retention agreements totaling $ 2.2 million .we are required to make payments upon satisfaction of certain conditions in the agreements .as permitted under delaware law , we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is , or was serving , at our request in such capacity .the indemnification period covers all pertinent events and occurrences during the officer 2019s or director 2019s lifetime .the maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited ; however , we have director and officer insurance coverage that limits our exposure and enables us to recover a portion of any future amounts paid .we believe the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. .
[['', 'total', 'less than 1 year', '1-3 years', '3-5 years', 'over 5 years'], ['non-cancelable operating leases net of sublease income', '$ 83.9', '$ 23.6', '$ 25.9', '$ 16.3', '$ 18.1']]
building .the construction of the building was completed in december 2003 .due to lower than expected financing and construction costs , the final lease balance was lowered to $ 103.0 million .as part of the agreement , we entered into a five-year lease that began upon the completion of the building .at the end of the lease term , we can purchase the building for the lease balance , remarket or relinquish the building .if we choose to remarket or are required to do so upon relinquishing the building , we are bound to arrange the sale of the building to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 90.8 million ( 201cresidual value guarantee 201d ) .see note 14 in our notes to consolidated financial statements for further information .in august 1999 , we entered into a five-year lease agreement for our other two office buildings that currently serve as our corporate headquarters in san jose , california .under the agreement , we have the option to purchase the buildings at any time during the lease term for the lease balance , which is approximately $ 142.5 million .we are in the process of evaluating alternative financing methods at expiration of the lease in fiscal 2004 and believe that several suitable financing options will be available to us .at the end of the lease term , we can purchase the buildings for the lease balance , remarket or relinquish the buildings .if we choose to remarket or are required to do so upon relinquishing the buildings , we are bound to arrange the sale of the buildings to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 132.6 million ( 201cresidual value guarantee 201d ) .for further information , see note 14 in our notes to consolidated financial statements .the two lease agreements discussed above are subject to standard financial covenants .the agreements limit the amount of indebtedness we can incur .a leverage covenant requires us to keep our debt to ebitda ratio less than 2.5:1.0 .as of november 28 , 2003 , our debt to ebitda ratio was 0.53:1.0 , well within the limit .we also have a liquidity covenant which requires us to maintain a quick ratio equal to or greater than 1.0 .as of november 28 , 2003 , our quick ratio was 2.2 , well above the minimum .we expect to remain within compliance in the next 12 months .we are comfortable with these limitations and believe they will not impact our cash or credit in the coming year or restrict our ability to execute our business plan .the following table summarizes our contractual commitments as of november 28 , 2003 : less than over total 1 year 1 2013 3 years 3-5 years 5 years non-cancelable operating leases , net of sublease income ................ .$ 83.9 $ 23.6 $ 25.9 $ 16.3 $ 18.1 indemnifications in the normal course of business , we provide indemnifications of varying scope to customers against claims of intellectual property infringement made by third parties arising from the use of our products .historically , costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations .we have commitments to make certain milestone and/or retention payments typically entered into in conjunction with various acquisitions , for which we have made accruals in our consolidated financial statements .in connection with our purchases of technology assets during fiscal 2003 , we entered into employee retention agreements totaling $ 2.2 million .we are required to make payments upon satisfaction of certain conditions in the agreements .as permitted under delaware law , we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is , or was serving , at our request in such capacity .the indemnification period covers all pertinent events and occurrences during the officer 2019s or director 2019s lifetime .the maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited ; however , we have director and officer insurance coverage that limits our exposure and enables us to recover a portion of any future amounts paid .we believe the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. .
|
what percent of non-cancelable operating leases net of sublease income are due in greater than five years?\\n
|
21.6%
|
{
"answer": "21.6%",
"decimal": 0.21600000000000003,
"type": "percentage"
}
| |
jpmorgan chase & co./2016 annual report 35 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co .( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 index , the kbw bank index and the s&p financial index .the s&p 500 index is a commonly referenced united states of america ( 201cu.s . 201d ) equity benchmark consisting of leading companies from different economic sectors .the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s .and is composed of leading national money center and regional banks and thrifts .the s&p financial index is an index of financial companies , all of which are components of the s&p 500 .the firm is a component of all three industry indices .the following table and graph assume simultaneous investments of $ 100 on december 31 , 2011 , in jpmorgan chase common stock and in each of the above indices .the comparison assumes that all dividends are reinvested .december 31 , ( in dollars ) 2011 2012 2013 2014 2015 2016 .
[['december 31 ( in dollars )', '2011', '2012', '2013', '2014', '2015', '2016'], ['jpmorgan chase', '$ 100.00', '$ 136.18', '$ 186.17', '$ 204.57', '$ 221.68', '$ 298.31'], ['kbw bank index', '100.00', '133.03', '183.26', '200.42', '201.40', '258.82'], ['s&p financial index', '100.00', '128.75', '174.57', '201.06', '197.92', '242.94'], ['s&p 500 index', '100.00', '115.99', '153.55', '174.55', '176.95', '198.10']]
december 31 , ( in dollars ) .
|
what was the 5 year return of the kbw bank index?
|
158.82%
|
{
"answer": "158.82%",
"decimal": 1.5881999999999998,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements the following table summarizes the preliminary allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : preliminary purchase price allocation .
[['', 'preliminary purchase price allocation'], ['non-current assets', '$ 24460'], ['property and equipment', '138959'], ['intangible assets ( 1 )', '117990'], ['other non-current liabilities', '-18195 ( 18195 )'], ['fair value of net assets acquired', '$ 263214'], ['goodwill ( 2 )', '47481']]
( 1 ) consists of customer-related intangibles of approximately $ 80.0 million and network location intangibles of approximately $ 38.0 million .the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .( 2 ) the company expects that the goodwill recorded will be deductible for tax purposes .the goodwill was allocated to the company 2019s international rental and management segment .ghana acquisition 2014on december 6 , 2010 , the company entered into a definitive agreement with mtn group limited ( 201cmtn group 201d ) to establish a joint venture in ghana .the joint venture is controlled by a holding company of which a wholly owned subsidiary of the company ( the 201catc ghana subsidiary 201d ) holds a 51% ( 51 % ) interest and mobile telephone networks ( netherlands ) b.v. , a wholly owned subsidiary of mtn group ( the 201cmtn ghana subsidiary 201d ) holds a 49% ( 49 % ) interest .the joint venture is managed and controlled by the company and owns a tower operations company in ghana .pursuant to the agreement , on may 6 , 2011 , august 11 , 2011 and december 23 , 2011 , the joint venture acquired 400 , 770 and 686 communications sites , respectively , from mtn group 2019s operating subsidiary in ghana for an aggregate purchase price of $ 515.6 million ( including contingent consideration of $ 2.3 million and value added tax of $ 65.6 million ) .the aggregate purchase price was subsequently increased to $ 517.7 million ( including contingent consideration of $ 2.3 million and value added tax of $ 65.6 million ) after certain post-closing adjustments .under the terms of the purchase agreement , legal title to certain of the communications sites acquired on december 23 , 2011 will be transferred upon fulfillment of certain conditions by mtn group .prior to the fulfillment of these conditions , the company will operate and maintain control of these communications sites , and accordingly , reflect these sites in the allocation of purchase price and the consolidated operating results .in december 2011 , the company signed an amendment to its agreement with mtn group , which requires the company to make additional payments upon the conversion of certain barter agreements with other wireless carriers to cash-paying master lease agreements .the company currently estimates the fair value of remaining potential contingent consideration payments required to be made under the amended agreement to be between zero and $ 1.0 million and is estimated to be $ 0.9 million using a probability weighted average of the expected outcomes at december 31 , 2012 .the company has previously made payments under this arrangement of $ 2.6 million .during the year ended december 31 , 2012 , the company recorded an increase in fair value of $ 0.4 million as other operating expenses in the consolidated statements of operations. .
|
based on the price allocation what was the sum of the assets purchased before the goodwill
|
281409
|
{
"answer": "281409",
"decimal": 281409,
"type": "float"
}
| |
item 7a .quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items .from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks .derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes .interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations .the majority of our debt ( approximately 91% ( 91 % ) and 86% ( 86 % ) as of december 31 , 2014 and 2013 , respectively ) bears interest at fixed rates .we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows .the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below .increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .
[['as of december 31,', 'increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates', 'increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates'], ['2014', '$ -35.5 ( 35.5 )', '$ 36.6'], ['2013', '-26.9 ( 26.9 )', '27.9']]
we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates .we do not have any interest rate swaps outstanding as of december 31 , 2014 .we had $ 1667.2 of cash , cash equivalents and marketable securities as of december 31 , 2014 that we generally invest in conservative , short-term bank deposits or securities .the interest income generated from these investments is subject to both domestic and foreign interest rate movements .during 2014 and 2013 , we had interest income of $ 27.4 and $ 24.7 , respectively .based on our 2014 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 16.7 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2014 levels .foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates .since we report revenues and expenses in u.s .dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s .dollars ) from foreign operations .the primary foreign currencies that impacted our results during 2014 included the argentine peso , australian dollar , brazilian real and british pound sterling .based on 2014 exchange rates and operating results , if the u.s .dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2014 levels .the functional currency of our foreign operations is generally their respective local currency .assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented .the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets .our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk .however , certain subsidiaries may enter into transactions in currencies other than their functional currency .assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement .currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses .we have not entered into a material amount of foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates. .
|
what is the growth rate of interest income from 2013 to 2014?
|
10.9%
|
{
"answer": "10.9%",
"decimal": 0.109,
"type": "percentage"
}
| |
table of contents notes to consolidated financial statements of american airlines , inc .certificate of incorporation ( the certificate of incorporation ) contains transfer restrictions applicable to certain substantial stockholders .although the purpose of these transfer restrictions is to prevent an ownership change from occurring , there can be no assurance that an ownership change will not occur even with these transfer restrictions .a copy of the certificate of incorporation was attached as exhibit 3.1 to a current report on form 8-k filed by aag with the sec on december 9 , 2013 .reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred in the chapter 11 cases .the following table summarizes the components included in reorganization items , net on the consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : december 31 .
[['', 'december 31 2013'], ['labor-related deemed claim ( 1 )', '$ 1733'], ['aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )', '320'], ['fair value of conversion discount ( 4 )', '218'], ['professional fees', '199'], ['other', '170'], ['total reorganization items net', '$ 2640']]
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees .each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes .the total value of this deemed claim was approximately $ 1.7 billion .( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds .the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify such financing or facility agreement and the debtors believed that it was probable the motion would be approved , and there was sufficient information to estimate the claim .( 3 ) pursuant to the plan , the debtors agreed to allow certain post-petition unsecured claims on obligations .as a result , during the year ended december 31 , 2013 , american recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $ 180 million , allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at john f .kennedy international airport ( jfk ) , and rejected bonds that financed certain improvements at chicago o 2019hare international airport ( ord ) , which are included in the table above .( 4 ) the plan allowed unsecured creditors receiving aag series a preferred stock a conversion discount of 3.5% ( 3.5 % ) .accordingly , american recorded the fair value of such discount upon the confirmation of the plan by the bankruptcy court. .
|
what is the ratio of the labor-related deemed claim to the other fees
|
10.2
|
{
"answer": "10.2",
"decimal": 10.2,
"type": "float"
}
|
there is $ 10.2 of labor-related deemed claim for every $ 1 of other fees
|
table of contents ended december 31 , 2015 and 2014 , respectively .the increase in cash provided by accounts payable-inventory financing was primarily due to a new vendor added to our previously existing inventory financing agreement .for a description of the inventory financing transactions impacting each period , see note 6 ( inventory financing agreements ) to the accompanying consolidated financial statements .for a description of the debt transactions impacting each period , see note 8 ( long-term debt ) to the accompanying consolidated financial statements .net cash used in financing activities decreased $ 56.3 million in 2014 compared to 2013 .the decrease was primarily driven by several debt refinancing transactions during each period and our july 2013 ipo , which generated net proceeds of $ 424.7 million after deducting underwriting discounts , expenses and transaction costs .the net impact of our debt transactions resulted in cash outflows of $ 145.9 million and $ 518.3 million during 2014 and 2013 , respectively , as cash was used in each period to reduce our total long-term debt .for a description of the debt transactions impacting each period , see note 8 ( long-term debt ) to the accompanying consolidated financial statements .long-term debt and financing arrangements as of december 31 , 2015 , we had total indebtedness of $ 3.3 billion , of which $ 1.6 billion was secured indebtedness .at december 31 , 2015 , we were in compliance with the covenants under our various credit agreements and indentures .the amount of cdw 2019s restricted payment capacity under the senior secured term loan facility was $ 679.7 million at december 31 , 2015 .for further details regarding our debt and each of the transactions described below , see note 8 ( long-term debt ) to the accompanying consolidated financial statements .during the year ended december 31 , 2015 , the following events occurred with respect to our debt structure : 2022 on august 1 , 2015 , we consolidated kelway 2019s term loan and kelway 2019s revolving credit facility .kelway 2019s term loan is denominated in british pounds .the kelway revolving credit facility is a multi-currency revolving credit facility under which kelway is permitted to borrow an aggregate amount of a350.0 million ( $ 73.7 million ) as of december 31 , 2015 .2022 on march 3 , 2015 , we completed the issuance of $ 525.0 million principal amount of 5.0% ( 5.0 % ) senior notes due 2023 which will mature on september 1 , 2023 .2022 on march 3 , 2015 , we redeemed the remaining $ 503.9 million aggregate principal amount of the 8.5% ( 8.5 % ) senior notes due 2019 , plus accrued and unpaid interest through the date of redemption , april 2 , 2015 .inventory financing agreements we have entered into agreements with certain financial intermediaries to facilitate the purchase of inventory from various suppliers under certain terms and conditions .these amounts are classified separately as accounts payable-inventory financing on the consolidated balance sheets .we do not incur any interest expense associated with these agreements as balances are paid when they are due .for further details , see note 6 ( inventory financing agreements ) to the accompanying consolidated financial statements .contractual obligations we have future obligations under various contracts relating to debt and interest payments , operating leases and asset retirement obligations .our estimated future payments , based on undiscounted amounts , under contractual obligations that existed as of december 31 , 2015 , are as follows: .
[['( in millions )', 'payments due by period total', 'payments due by period < 1 year', 'payments due by period 1-3 years', 'payments due by period 4-5 years', 'payments due by period > 5 years'], ['term loan ( 1 )', '$ 1703.4', '$ 63.9', '$ 126.3', '$ 1513.2', '$ 2014'], ['kelway term loan ( 1 )', '90.9', '13.5', '77.4', '2014', '2014'], ['senior notes due 2022 ( 2 )', '852.0', '36.0', '72.0', '72.0', '672.0'], ['senior notes due 2023 ( 2 )', '735.1', '26.3', '52.5', '52.5', '603.8'], ['senior notes due 2024 ( 2 )', '859.7', '31.6', '63.3', '63.3', '701.5'], ['operating leases ( 3 )', '143.2', '22.5', '41.7', '37.1', '41.9'], ['asset retirement obligations ( 4 )', '1.8', '0.8', '0.5', '0.3', '0.2'], ['total', '$ 4386.1', '$ 194.6', '$ 433.7', '$ 1738.4', '$ 2019.4']]
.
|
what was the percent of the total term loan that was due in 1-3 years
|
7.4%
|
{
"answer": "7.4%",
"decimal": 0.07400000000000001,
"type": "percentage"
}
| |
note 17 .debt our debt as of december 2 , 2011 and december 3 , 2010 consisted of the following ( in thousands ) : capital lease obligations total debt and capital lease obligations less : current portion debt and capital lease obligations $ 1494627 19681 1514308 $ 1505096 $ 1493969 28492 1522461 $ 1513662 in february 2010 , we issued $ 600.0 million of 3.25% ( 3.25 % ) senior notes due february 1 , 2015 ( the 201c2015 notes 201d ) and $ 900.0 million of 4.75% ( 4.75 % ) senior notes due february 1 , 2020 ( the 201c2020 notes 201d and , together with the 2015 notes , the 201cnotes 201d ) .our proceeds were approximately $ 1.5 billion and were net of an issuance discount of $ 6.6 million .the notes rank equally with our other unsecured and unsubordinated indebtedness .in addition , we incurred issuance costs of approximately $ 10.7 million .both the discount and issuance costs are being amortized to interest expense over the respective terms of the notes using the effective interest method .the effective interest rate including the discount and issuance costs is 3.45% ( 3.45 % ) for the 2015 notes and 4.92% ( 4.92 % ) for the 2020 notes .interest is payable semi-annually , in arrears , on february 1 and august 1 , commencing on august 1 , 2010 .during fiscal 2011 interest payments totaled $ 62.3 million .the proceeds from the notes are available for general corporate purposes , including repayment of any balance outstanding on our credit facility .based on quoted market prices , the fair value of the notes was approximately $ 1.6 billion as of december 2 , 2011 .we may redeem the notes at any time , subject to a make whole premium .in addition , upon the occurrence of certain change of control triggering events , we may be required to repurchase the notes , at a price equal to 101% ( 101 % ) of their principal amount , plus accrued and unpaid interest to the date of repurchase .the notes also include covenants that limit our ability to grant liens on assets and to enter into sale and leaseback transactions , subject to significant allowances .as of december 2 , 2011 , we were in compliance with all of the covenants .credit agreement in august 2007 , we entered into an amendment to our credit agreement dated february 2007 ( the 201camendment 201d ) , which increased the total senior unsecured revolving facility from $ 500.0 million to $ 1.0 billion .the amendment also permits us to request one-year extensions effective on each anniversary of the closing date of the original agreement , subject to the majority consent of the lenders .we also retain an option to request an additional $ 500.0 million in commitments , for a maximum aggregate facility of $ 1.5 billion .in february 2008 , we entered into a second amendment to the credit agreement dated february 26 , 2008 , which extended the maturity date of the facility by one year to february 16 , 2013 .the facility would terminate at this date if no additional extensions have been requested and granted .all other terms and conditions remain the same .the facility contains a financial covenant requiring us not to exceed a certain maximum leverage ratio .at our option , borrowings under the facility accrue interest based on either the london interbank offered rate ( 201clibor 201d ) for one , two , three or six months , or longer periods with bank consent , plus a margin according to a pricing grid tied to this financial covenant , or a base rate .the margin is set at rates between 0.20% ( 0.20 % ) and 0.475% ( 0.475 % ) .commitment fees are payable on the facility at rates between 0.05% ( 0.05 % ) and 0.15% ( 0.15 % ) per year based on the same pricing grid .the facility is available to provide loans to us and certain of our subsidiaries for general corporate purposes .on february 1 , 2010 , we paid the outstanding balance on our credit facility and the entire $ 1.0 billion credit line under this facility remains available for borrowing .capital lease obligation in june 2010 , we entered into a sale-leaseback agreement to sell equipment totaling $ 32.2 million and leaseback the same equipment over a period of 43 months .this transaction was classified as a capital lease obligation and recorded at fair value .as of december 2 , 2011 , our capital lease obligations of $ 19.7 million includes $ 9.2 million of current debt .table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .
[['', '2011', '2010'], ['notes', '$ 1494627', '$ 1493969'], ['capital lease obligations', '19681', '28492'], ['total debt and capital lease obligations', '1514308', '1522461'], ['less : current portion', '9212', '8799'], ['debt and capital lease obligations', '$ 1505096', '$ 1513662']]
note 17 .debt our debt as of december 2 , 2011 and december 3 , 2010 consisted of the following ( in thousands ) : capital lease obligations total debt and capital lease obligations less : current portion debt and capital lease obligations $ 1494627 19681 1514308 $ 1505096 $ 1493969 28492 1522461 $ 1513662 in february 2010 , we issued $ 600.0 million of 3.25% ( 3.25 % ) senior notes due february 1 , 2015 ( the 201c2015 notes 201d ) and $ 900.0 million of 4.75% ( 4.75 % ) senior notes due february 1 , 2020 ( the 201c2020 notes 201d and , together with the 2015 notes , the 201cnotes 201d ) .our proceeds were approximately $ 1.5 billion and were net of an issuance discount of $ 6.6 million .the notes rank equally with our other unsecured and unsubordinated indebtedness .in addition , we incurred issuance costs of approximately $ 10.7 million .both the discount and issuance costs are being amortized to interest expense over the respective terms of the notes using the effective interest method .the effective interest rate including the discount and issuance costs is 3.45% ( 3.45 % ) for the 2015 notes and 4.92% ( 4.92 % ) for the 2020 notes .interest is payable semi-annually , in arrears , on february 1 and august 1 , commencing on august 1 , 2010 .during fiscal 2011 interest payments totaled $ 62.3 million .the proceeds from the notes are available for general corporate purposes , including repayment of any balance outstanding on our credit facility .based on quoted market prices , the fair value of the notes was approximately $ 1.6 billion as of december 2 , 2011 .we may redeem the notes at any time , subject to a make whole premium .in addition , upon the occurrence of certain change of control triggering events , we may be required to repurchase the notes , at a price equal to 101% ( 101 % ) of their principal amount , plus accrued and unpaid interest to the date of repurchase .the notes also include covenants that limit our ability to grant liens on assets and to enter into sale and leaseback transactions , subject to significant allowances .as of december 2 , 2011 , we were in compliance with all of the covenants .credit agreement in august 2007 , we entered into an amendment to our credit agreement dated february 2007 ( the 201camendment 201d ) , which increased the total senior unsecured revolving facility from $ 500.0 million to $ 1.0 billion .the amendment also permits us to request one-year extensions effective on each anniversary of the closing date of the original agreement , subject to the majority consent of the lenders .we also retain an option to request an additional $ 500.0 million in commitments , for a maximum aggregate facility of $ 1.5 billion .in february 2008 , we entered into a second amendment to the credit agreement dated february 26 , 2008 , which extended the maturity date of the facility by one year to february 16 , 2013 .the facility would terminate at this date if no additional extensions have been requested and granted .all other terms and conditions remain the same .the facility contains a financial covenant requiring us not to exceed a certain maximum leverage ratio .at our option , borrowings under the facility accrue interest based on either the london interbank offered rate ( 201clibor 201d ) for one , two , three or six months , or longer periods with bank consent , plus a margin according to a pricing grid tied to this financial covenant , or a base rate .the margin is set at rates between 0.20% ( 0.20 % ) and 0.475% ( 0.475 % ) .commitment fees are payable on the facility at rates between 0.05% ( 0.05 % ) and 0.15% ( 0.15 % ) per year based on the same pricing grid .the facility is available to provide loans to us and certain of our subsidiaries for general corporate purposes .on february 1 , 2010 , we paid the outstanding balance on our credit facility and the entire $ 1.0 billion credit line under this facility remains available for borrowing .capital lease obligation in june 2010 , we entered into a sale-leaseback agreement to sell equipment totaling $ 32.2 million and leaseback the same equipment over a period of 43 months .this transaction was classified as a capital lease obligation and recorded at fair value .as of december 2 , 2011 , our capital lease obligations of $ 19.7 million includes $ 9.2 million of current debt .table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .
|
as of december 2 , 2011 , what would capital lease obligations be in millions excluding of current debt?
|
10.5
|
{
"answer": "10.5",
"decimal": 10.5,
"type": "float"
}
| |
the following table summarizes the total contractual amount of credit-related , off-balance sheet financial instruments at december 31 .amounts reported do not reflect participations to independent third parties. .
[['( in millions )', '2008', '2007'], ['indemnified securities financing', '$ 324590', '$ 558368'], ['liquidity asset purchase agreements', '28800', '35339'], ['unfunded commitments to extend credit', '20981', '17533'], ['standby letters of credit', '6061', '4711']]
approximately 81% ( 81 % ) of the unfunded commitments to extend credit expire within one year from the date of issue .since many of the commitments are expected to expire or renew without being drawn upon , the total commitment amounts do not necessarily represent future cash requirements .securities finance : on behalf of our customers , we lend their securities to creditworthy brokers and other institutions .we generally indemnify our customers for the fair market value of those securities against a failure of the borrower to return such securities .collateral funds received in connection with our securities finance services are held by us as agent and are not recorded in our consolidated statement of condition .we require the borrowers to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the fair market value of the securities borrowed .the borrowed securities are revalued daily to determine if additional collateral is necessary .in this regard , we held , as agent , cash and u.s .government securities with an aggregate fair value of $ 333.07 billion and $ 572.93 billion as collateral for indemnified securities on loan at december 31 , 2008 and 2007 , respectively , presented in the table above .the collateral held by us is invested on behalf of our customers .in certain cases , the collateral is invested in third-party repurchase agreements , for which we indemnify the customer against loss of the principal invested .we require the repurchase agreement counterparty to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the amount of the repurchase agreement .the indemnified repurchase agreements and the related collateral are not recorded in our consolidated statement of condition .of the collateral of $ 333.07 billion at december 31 , 2008 and $ 572.93 billion at december 31 , 2007 referenced above , $ 68.37 billion at december 31 , 2008 and $ 106.13 billion at december 31 , 2007 was invested in indemnified repurchase agreements .we held , as agent , cash and securities with an aggregate fair value of $ 71.87 billion and $ 111.02 billion as collateral for indemnified investments in repurchase agreements at december 31 , 2008 and december 31 , 2007 , respectively .asset-backed commercial paper program : in the normal course of our business , we provide liquidity and credit enhancement to an asset-backed commercial paper program sponsored and administered by us , described in note 12 .the commercial paper issuances and commitments of the commercial paper conduits to provide funding are supported by liquidity asset purchase agreements and back-up liquidity lines of credit , the majority of which are provided by us .in addition , we provide direct credit support to the conduits in the form of standby letters of credit .our commitments under liquidity asset purchase agreements and back-up lines of credit totaled $ 23.59 billion at december 31 , 2008 , and are included in the preceding table .our commitments under standby letters of credit totaled $ 1.00 billion at december 31 , 2008 , and are also included in the preceding table .legal proceedings : several customers have filed litigation claims against us , some of which are putative class actions purportedly on behalf of customers invested in certain of state street global advisors 2019 , or ssga 2019s , active fixed-income strategies .these claims related to investment losses in one or more of ssga 2019s strategies that included sub-prime investments .in 2007 , we established a reserve of approximately $ 625 million to address legal exposure associated with the under-performance of certain active fixed-income strategies managed by ssga and customer concerns as to whether the execution of these strategies was consistent with the customers 2019 investment intent .these strategies were adversely impacted by exposure to , and the lack of liquidity in .
|
what portion of the 2008 collateral was invested in indemnified repurchase agreements in 2008?
|
20.5%
|
{
"answer": "20.5%",
"decimal": 0.205,
"type": "percentage"
}
| |
fleet automation approximately 66% ( 66 % ) of our residential routes have been converted to automated single driver trucks .by converting our residential routes to automated service , we reduce labor costs , improve driver productivity and create a safer work environment for our employees .additionally , communities using automated vehicles have higher participation rates in recycling programs , thereby complementing our initiative to expand our recycling capabilities .fleet conversion to compressed natural gas ( cng ) approximately 12% ( 12 % ) of our fleet operates on natural gas .we expect to continue our gradual fleet conversion to cng , our preferred alternative fuel technology , as part of our ordinary annual fleet replacement process .we believe a gradual fleet conversion is most prudent to realize the full value of our previous fleet investments .approximately 50% ( 50 % ) of our replacement vehicle purchases during 2013 were cng vehicles .we believe using cng vehicles provides us a competitive advantage in communities with strict clean emission objectives or initiatives that focus on protecting the environment .although upfront costs are higher , we expect that using natural gas will reduce our overall fleet operating costs through lower fuel expenses .standardized maintenance based on an industry trade publication , we operate the eighth largest vocational fleet in the united states .as of december 31 , 2013 , our average fleet age in years , by line of business , was as follows : approximate number of vehicles average age .
[['', 'approximate number of vehicles', 'average age'], ['residential', '7600', '7'], ['commercial', '4300', '6'], ['industrial', '3600', '9'], ['total', '15500', '7']]
through standardization of core functions , we believe we can minimize variability in our maintenance processes resulting in higher vehicle quality while extending the service life of our fleet .we believe operating a more reliable , safer and efficient fleet will lower our operating costs .we have completed implementation of standardized maintenance programs for approximately 45% ( 45 % ) of our fleet maintenance operations as of december 31 , 2013 .cash utilization strategy key components of our cash utilization strategy include increasing free cash flow and improving our return on invested capital .our definition of free cash flow , which is not a measure determined in accordance with united states generally accepted accounting principles ( u.s .gaap ) , is cash provided by operating activities less purchases of property and equipment , plus proceeds from sales of property and equipment as presented in our consolidated statements of cash flows .for a discussion and reconciliation of free cash flow , you should read the 201cfree cash flow 201d section of our management 2019s discussion and analysis of financial condition and results of operations contained in item 7 of this form 10-k .we believe free cash flow drives shareholder value and provides useful information regarding the recurring cash provided by our operations .free cash flow also demonstrates our ability to execute our cash utilization strategy , which includes investments in acquisitions and returning a majority of free cash flow to our shareholders through dividends and share repurchases .we are committed to an efficient capital structure and maintaining our investment grade rating .we manage our free cash flow by ensuring that capital expenditures and operating asset levels are appropriate in light of our existing business and growth opportunities , as well as by closely managing our working capital , which consists primarily of accounts receivable , accounts payable , and accrued landfill and environmental costs. .
|
as of december 31 , 2013 what was the ratio of the number of vehicles for the residential to the industrial
|
2.11
|
{
"answer": "2.11",
"decimal": 2.11,
"type": "float"
}
|
the are 2.11 residential vehicles for every industrial vehicle
|
part ii , item 8 fourth quarter of 2007 : 0160 schlumberger sold certain workover rigs for $ 32 million , resulting in a pretax gain of $ 24 million ( $ 17 million after-tax ) which is classified in interest and other income , net in the consolidated statement of income .4 .acquisitions acquisition of eastern echo holding plc on december 10 , 2007 , schlumberger completed the acquisition of eastern echo holding plc ( 201ceastern echo 201d ) for $ 838 million in cash .eastern echo was a dubai-based marine seismic company that did not have any operations at the time of acquisition , but had signed contracts for the construction of six seismic vessels .the purchase price has been allocated to the net assets acquired based upon their estimated fair values as follows : ( stated in millions ) .
[['cash and short-term investments', '$ 266'], ['other current assets', '23'], ['fixed income investments held to maturity', '54'], ['vessels under construction', '694'], ['accounts payable and accrued liabilities', '-17 ( 17 )'], ['long-term debt', '-182 ( 182 )'], ['total purchase price', '$ 838']]
other acquisitions schlumberger has made other acquisitions and minority interest investments , none of which were significant on an individual basis , for cash payments , net of cash acquired , of $ 514 million during 2009 , $ 345 million during 2008 , and $ 281 million during 2007 .pro forma results pertaining to the above acquisitions are not presented as the impact was not significant .5 .drilling fluids joint venture the mi-swaco drilling fluids joint venture is owned 40% ( 40 % ) by schlumberger and 60% ( 60 % ) by smith international , inc .schlumberger records income relating to this venture using the equity method of accounting .the carrying value of schlumberger 2019s investment in the joint venture on december 31 , 2009 and 2008 was $ 1.4 billion and $ 1.3 billion , respectively , and is included within investments in affiliated companies on the consolidated balance sheet .schlumberger 2019s equity income from this joint venture was $ 131 million in 2009 , $ 210 million in 2008 and $ 178 million in 2007 .schlumberger received cash distributions from the joint venture of $ 106 million in 2009 , $ 57 million in 2008 and $ 46 million in 2007 .the joint venture agreement contains a provision under which either party to the joint venture may offer to sell its entire interest in the venture to the other party at a cash purchase price per percentage interest specified in an offer notice .if the offer to sell is not accepted , the offering party will be obligated to purchase the entire interest of the other party at the same price per percentage interest as the prices specified in the offer notice. .
|
what was cash and short-term investments as a percentage of total purchase price?
|
31.7%
|
{
"answer": "31.7%",
"decimal": 0.317,
"type": "percentage"
}
| |
74 2013 ppg annual report and form 10-k 22 .separation and merger transaction on january 28 , 2013 , the company completed the previously announced separation of its commodity chemicals business and merger of its wholly-owned subsidiary , eagle spinco inc. , with a subsidiary of georgia gulf corporation in a tax ef ficient reverse morris trust transaction ( the 201ctransaction 201d ) .pursuant to the merger , eagle spinco , the entity holding ppg's former commodity chemicals business , became a wholly-owned subsidiary of georgia gulf .the closing of the merger followed the expiration of the related exchange offer and the satisfaction of certain other conditions .the combined company formed by uniting georgia gulf with ppg's former commodity chemicals business is named axiall corporation ( 201caxiall 201d ) .ppg holds no ownership interest in axiall .ppg received the necessary ruling from the internal revenue service and as a result this transaction was generally tax free to ppg and its shareholders in the united states and canada .under the terms of the exchange offer , 35249104 shares of eagle spinco common stock were available for distribution in exchange for shares of ppg common stock accepted in the offer .following the merger , each share of eagle spinco common stock automatically converted into the right to receive one share of axiall corporation common stock .accordingly , ppg shareholders who tendered their shares of ppg common stock as part of this offer received 3.2562 shares of axiall common stock for each share of ppg common stock accepted for exchange .ppg was able to accept the maximum of 10825227 shares of ppg common stock for exchange in the offer , and thereby , reduced its outstanding shares by approximately 7% ( 7 % ) .the completion of this exchange offer was a non-cash financing transaction , which resulted in an increase in "treasury stock" at a cost of $ 1.561 billion based on the ppg closing stock price on january 25 , 2013 .under the terms of the transaction , ppg received $ 900 million of cash and 35.2 million shares of axiall common stock ( market value of $ 1.8 billion on january 25 , 2013 ) which was distributed to ppg shareholders by the exchange offer as described above .in addition , ppg received $ 67 million in cash for a preliminary post-closing working capital adjustment under the terms of the transaction agreements .the net assets transferred to axiall included $ 27 million of cash on the books of the business transferred .in the transaction , ppg transferred environmental remediation liabilities , defined benefit pension plan assets and liabilities and other post-employment benefit liabilities related to the commodity chemicals business to axiall .during the first quarter of 2013 , ppg recorded a gain of $ 2.2 billion on the transaction reflecting the excess of the sum of the cash proceeds received and the cost ( closing stock price on january 25 , 2013 ) of the ppg shares tendered and accepted in the exchange for the 35.2 million shares of axiall common stock over the net book value of the net assets of ppg's former commodity chemicals business .the transaction resulted in a net partial settlement loss of $ 33 million associated with the spin out and termination of defined benefit pension liabilities and the transfer of other post-retirement benefit liabilities under the terms of the transaction .the company also incurred $ 14 million of pretax expense , primarily for professional services related to the transaction in 2013 as well as approximately $ 2 million of net expense related to certain retained obligations and post-closing adjustments under the terms of the transaction agreements .the net gain on the transaction includes these related losses and expenses .the results of operations and cash flows of ppg's former commodity chemicals business for january 2013 and the net gain on the transaction are reported as results from discontinued operations for the year -ended december 31 , 2013 .in prior periods presented , the results of operations and cash flows of ppg's former commodity chemicals business have been reclassified from continuing operations and presented as results from discontinued operations .ppg will provide axiall with certain transition services for up to 24 months following the closing date of the transaction .these services include logistics , purchasing , finance , information technology , human resources , tax and payroll processing .the net sales and income before income taxes of the commodity chemicals business that have been reclassified and reported as discontinued operations are presented in the table below: .
[['millions', 'year-ended 2013', 'year-ended 2012', 'year-ended 2011'], ['net sales', '$ 108', '$ 1688', '$ 1732'], ['income from operations before income tax', '$ 2014', '$ 345', '$ 376'], ['net gain from separation and merger of commodity chemicals business', '2192', '2014', '2014'], ['income tax expense', '-5 ( 5 )', '117', '126'], ['income from discontinued operations net of tax', '$ 2197', '$ 228', '$ 250'], ['less : net income attributable to non-controlling interests discontinued operations', '$ 2014', '$ -13 ( 13 )', '$ -13 ( 13 )'], ['net income from discontinued operations ( attributable to ppg )', '$ 2197', '$ 215', '$ 237']]
income from discontinued operations , net of tax $ 2197 $ 228 $ 250 less : net income attributable to non- controlling interests , discontinued operations $ 2014 $ ( 13 ) $ ( 13 ) net income from discontinued operations ( attributable to ppg ) $ 2197 $ 215 $ 237 during 2012 , $ 21 million of business separation costs are included within "income from discontinued operations , net." notes to the consolidated financial statements .
|
during 2013 , what was the decline in net sales in disco?
|
-93%
|
{
"answer": "-93%",
"decimal": -0.93,
"type": "percentage"
}
| |
royal caribbean cruises ltd .79 notes to the consolidated financial statements in 2012 , we determined the implied fair value of good- will for the pullmantur reporting unit was $ 145.5 mil- lion and recognized an impairment charge of $ 319.2 million based on a probability-weighted discounted cash flow model further discussed below .this impair- ment charge was recognized in earnings during the fourth quarter of 2012 and is reported within impair- ment of pullmantur related assets within our consoli- dated statements of comprehensive income ( loss ) .during the fourth quarter of 2014 , we performed a qualitative assessment of whether it was more-likely- than-not that our royal caribbean international reporting unit 2019s fair value was less than its carrying amount before applying the two-step goodwill impair- ment test .the qualitative analysis included assessing the impact of certain factors such as general economic conditions , limitations on accessing capital , changes in forecasted operating results , changes in fuel prices and fluctuations in foreign exchange rates .based on our qualitative assessment , we concluded that it was more-likely-than-not that the estimated fair value of the royal caribbean international reporting unit exceeded its carrying value and thus , we did not pro- ceed to the two-step goodwill impairment test .no indicators of impairment exist primarily because the reporting unit 2019s fair value has consistently exceeded its carrying value by a significant margin , its financial performance has been solid in the face of mixed economic environments and forecasts of operating results generated by the reporting unit appear suffi- cient to support its carrying value .we also performed our annual impairment review of goodwill for pullmantur 2019s reporting unit during the fourth quarter of 2014 .we did not perform a quali- tative assessment but instead proceeded directly to the two-step goodwill impairment test .we estimated the fair value of the pullmantur reporting unit using a probability-weighted discounted cash flow model .the principal assumptions used in the discounted cash flow model are projected operating results , weighted- average cost of capital , and terminal value .signifi- cantly impacting these assumptions are the transfer of vessels from our other cruise brands to pullmantur .the discounted cash flow model used our 2015 pro- jected operating results as a base .to that base , we added future years 2019 cash flows assuming multiple rev- enue and expense scenarios that reflect the impact of different global economic environments beyond 2015 on pullmantur 2019s reporting unit .we assigned a probability to each revenue and expense scenario .we discounted the projected cash flows using rates specific to pullmantur 2019s reporting unit based on its weighted-average cost of capital .based on the probability-weighted discounted cash flows , we deter- mined the fair value of the pullmantur reporting unit exceeded its carrying value by approximately 52% ( 52 % ) resulting in no impairment to pullmantur 2019s goodwill .pullmantur is a brand targeted primarily at the spanish , portuguese and latin american markets , with an increasing focus on latin america .the persistent economic instability in these markets has created sig- nificant uncertainties in forecasting operating results and future cash flows used in our impairment analyses .we continue to monitor economic events in these markets for their potential impact on pullmantur 2019s business and valuation .further , the estimation of fair value utilizing discounted expected future cash flows includes numerous uncertainties which require our significant judgment when making assumptions of expected revenues , operating costs , marketing , sell- ing and administrative expenses , interest rates , ship additions and retirements as well as assumptions regarding the cruise vacation industry 2019s competitive environment and general economic and business conditions , among other factors .if there are changes to the projected future cash flows used in the impairment analyses , especially in net yields or if certain transfers of vessels from our other cruise brands to the pullmantur fleet do not take place , it is possible that an impairment charge of pullmantur 2019s reporting unit 2019s goodwill may be required .of these factors , the planned transfers of vessels to the pullmantur fleet is most significant to the projected future cash flows .if the transfers do not occur , we will likely fail step one of the impairment test .note 4 .intangible assets intangible assets are reported in other assets in our consolidated balance sheets and consist of the follow- ing ( in thousands ) : .
[['', '2014', '2013'], ['indefinite-life intangible asset 2014pullmantur trademarks and trade names', '$ 214112', '$ 204866'], ['foreign currency translation adjustment', '-26074 ( 26074 )', '9246'], ['total', '$ 188038', '$ 214112']]
during the fourth quarter of 2014 , 2013 and 2012 , we performed the annual impairment review of pullmantur 2019s trademarks and trade names using a discounted cash flow model and the relief-from-royalty method to compare the fair value of these indefinite-lived intan- gible assets to its carrying value .the royalty rate used is based on comparable royalty agreements in the tourism and hospitality industry .we used a dis- count rate comparable to the rate used in valuing the pullmantur reporting unit in our goodwill impairment test .based on the results of our testing , we did not .
|
what was the percentage increase in the intangible assets are reported in other assets from 2013 to 2014
|
4.5%
|
{
"answer": "4.5%",
"decimal": 0.045,
"type": "percentage"
}
| |
management 2019s priorities management has re-evaluated its priorities following the appointment of its new ceo in september 2011 .management is focused on the following priorities : 2022 execution of our geographic concentration strategy to maximize shareholder value through disciplined capital allocation including : 2022 platform expansion in brazil , chile , colombia , and the united states , 2022 platform development in turkey , poland , and the united kingdom , 2022 corporate debt reduction , and 2022 a return of capital to shareholders , including our intent to initiate a dividend in 2012 ; 2022 closing the sales of businesses for which we have signed agreements with counterparties and prudently exiting select non-strategic markets ; 2022 optimizing profitability of operations in the existing portfolio ; 2022 integration of dpl into our portfolio ; 2022 implementing a management realignment of our businesses under two business lines : utilities and generation , and achieving cost savings through the alignment of overhead costs with business requirements , systems automation and optimal allocation of business development spending ; and 2022 completion of an approximately 2400 mw construction program and the integration of new projects into existing businesses .during the year ended december 31 , 2011 , the following projects commenced commercial operations : project location fuel aes equity interest ( percent , rounded ) aes solar ( 1 ) .......................various solar 62 50% ( 50 % ) .
[['project', 'location', 'fuel', 'gross mw', 'aes equity interest ( percent rounded )'], ['aes solar ( 1 )', 'various', 'solar', '62', '50% ( 50 % )'], ['angamos', 'chile', 'coal', '545', '71% ( 71 % )'], ['changuinola', 'panama', 'hydro', '223', '100% ( 100 % )'], ['kumkoy ( 2 )', 'turkey', 'hydro', '18', '51% ( 51 % )'], ['laurel mountain', 'us-wv', 'wind', '98', '100% ( 100 % )'], ['maritza', 'bulgaria', 'coal', '670', '100% ( 100 % )'], ['sao joaquim', 'brazil', 'hydro', '3', '24% ( 24 % )'], ['trinidad ( 3 )', 'trinidad', 'gas', '394', '10% ( 10 % )']]
trinidad ( 3 ) ........................trinidad gas 394 10% ( 10 % ) ( 1 ) aes solar energy ltd .is a joint venture with riverstone holdings and is accounted for as an equity method investment .plants that came online during the year include : kalipetrovo , ugento , soemina , francavilla fontana , latina , cocomeri , francofonte , scopeto , sabaudia , aprilla-1 , siracusa 1-3 complex , manduria apollo and rinaldone .( 2 ) joint venture with i.c .energy .( 3 ) an equity method investment held by aes .key trends and uncertainties our operations continue to face many risks as discussed in item 1a . 2014risk factors of this form 10-k .some of these challenges are also described below in 201ckey drivers of results in 2011 201d .we continue to monitor our operations and address challenges as they arise .operations in august 2010 , the esti power plant , a 120 mw run-of-river hydroelectric power plant in panama , was taken offline due to damage to its tunnel infrastructure .aes panama is partially covered for business .
|
was the company's us project capacity greeter than the capacity in bulgaria?
|
no
|
{
"answer": "no",
"decimal": null,
"type": "bool"
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| |
jpmorgan chase & co./2012 annual report 249 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agreements 201d ) primarily to finance the firm 2019s inventory positions , acquire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations .securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets .resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest .securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received .where appropriate under applicable accounting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis .fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense , respectively .the firm has elected the fair value option for certain securities financing agreements .for further information regarding the fair value option , see note 4 on pages 214 2013 216 of this annual report .the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated balance sheets .generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue .however , for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue .the following table details the firm 2019s securities financing agreements , all of which are accounted for as collateralized financings during the periods presented .december 31 , ( in millions ) 2012 2011 securities purchased under resale agreements ( a ) $ 295413 $ 235000 securities borrowed ( b ) 119017 142462 securities sold under repurchase agreements ( c ) $ 215560 $ 197789 securities loaned ( d ) 23582 14214 ( a ) at december 31 , 2012 and 2011 , included resale agreements of $ 24.3 billion and $ 22.2 billion , respectively , accounted for at fair value .( b ) at december 31 , 2012 and 2011 , included securities borrowed of $ 10.2 billion and $ 15.3 billion , respectively , accounted for at fair value .( c ) at december 31 , 2012 and 2011 , included repurchase agreements of $ 3.9 billion and $ 6.8 billion , respectively , accounted for at fair value .( d ) at december 31 , 2012 , included securities loaned of $ 457 million accounted for at fair value .there were no securities loaned accounted for at fair value at december 31 , 2011 .the amounts reported in the table above were reduced by $ 96.9 billion and $ 115.7 billion at december 31 , 2012 and 2011 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance .jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securities borrowed .the firm monitors the value of the underlying securities ( primarily g7 government securities , u.s .agency securities and agency mbs , and equities ) that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities .margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default .jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default .as a result of the firm 2019s credit risk mitigation practices with respect to resale and securities borrowed agreements as described above , the firm did not hold any reserves for credit impairment with respect to these agreements as of december 31 , 2012 and for further information regarding assets pledged and collateral received in securities financing agreements , see note 30 on pages 315 2013316 of this annual report. .
[['december 31 ( in millions )', '2012', '2011'], ['securities purchased under resale agreements ( a )', '$ 295413', '$ 235000'], ['securities borrowed ( b )', '119017', '142462'], ['securities sold under repurchase agreements ( c )', '$ 215560', '$ 197789'], ['securities loaned ( d )', '23582', '14214']]
jpmorgan chase & co./2012 annual report 249 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agreements 201d ) primarily to finance the firm 2019s inventory positions , acquire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations .securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets .resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest .securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received .where appropriate under applicable accounting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis .fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense , respectively .the firm has elected the fair value option for certain securities financing agreements .for further information regarding the fair value option , see note 4 on pages 214 2013 216 of this annual report .the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated balance sheets .generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue .however , for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue .the following table details the firm 2019s securities financing agreements , all of which are accounted for as collateralized financings during the periods presented .december 31 , ( in millions ) 2012 2011 securities purchased under resale agreements ( a ) $ 295413 $ 235000 securities borrowed ( b ) 119017 142462 securities sold under repurchase agreements ( c ) $ 215560 $ 197789 securities loaned ( d ) 23582 14214 ( a ) at december 31 , 2012 and 2011 , included resale agreements of $ 24.3 billion and $ 22.2 billion , respectively , accounted for at fair value .( b ) at december 31 , 2012 and 2011 , included securities borrowed of $ 10.2 billion and $ 15.3 billion , respectively , accounted for at fair value .( c ) at december 31 , 2012 and 2011 , included repurchase agreements of $ 3.9 billion and $ 6.8 billion , respectively , accounted for at fair value .( d ) at december 31 , 2012 , included securities loaned of $ 457 million accounted for at fair value .there were no securities loaned accounted for at fair value at december 31 , 2011 .the amounts reported in the table above were reduced by $ 96.9 billion and $ 115.7 billion at december 31 , 2012 and 2011 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance .jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securities borrowed .the firm monitors the value of the underlying securities ( primarily g7 government securities , u.s .agency securities and agency mbs , and equities ) that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities .margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default .jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default .as a result of the firm 2019s credit risk mitigation practices with respect to resale and securities borrowed agreements as described above , the firm did not hold any reserves for credit impairment with respect to these agreements as of december 31 , 2012 and for further information regarding assets pledged and collateral received in securities financing agreements , see note 30 on pages 315 2013316 of this annual report. .
|
at december 31 , 2012 , what is the amount of securities accounted for on the cost basis?
|
108.8
|
{
"answer": "108.8",
"decimal": 108.8,
"type": "float"
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| |
recent accounting pronouncements see note 1 accounting policies in the notes to consolidated financial statements in item 8 of this report for additional information on the following recent accounting pronouncements that are relevant to our business , including a description of each new pronouncement , the required date of adoption , our planned date of adoption , and the expected impact on our consolidated financial statements .all of the following pronouncements were issued by the fasb unless otherwise noted .the following were issued in 2007 : 2022 sfas 141 ( r ) , 201cbusiness combinations 201d 2022 sfas 160 , 201caccounting and reporting of noncontrolling interests in consolidated financial statements , an amendment of arb no .51 201d 2022 in november 2007 , the sec issued staff accounting bulletin no .109 , 2022 in june 2007 , the aicpa issued statement of position 07-1 , 201cclarification of the scope of the audit and accounting guide 201cinvestment companies 201d and accounting by parent companies and equity method investors for investments in investment companies . 201d the fasb issued a final fsp in february 2008 which indefinitely delays the effective date of aicpa sop 07-1 .2022 fasb staff position no .( 201cfsp 201d ) fin 46 ( r ) 7 , 201capplication of fasb interpretation no .46 ( r ) to investment companies 201d 2022 fsp fin 48-1 , 201cdefinition of settlement in fasb interpretation ( 201cfin 201d ) no .48 201d 2022 sfas 159 , 201cthe fair value option for financial assets and financial liabilities 2013 including an amendment of fasb statement no .115 201d the following were issued during 2006 : 2022 sfas 158 , 201cemployers 2019 accounting for defined benefit pension and other postretirement benefit plans 2013 an amendment of fasb statements no .87 , 88 , 106 and 132 ( r ) 201d ( 201csfas 158 201d ) 2022 sfas 157 , 201cfair value measurements 201d 2022 fin 48 , 201caccounting for uncertainty in income taxes 2013 an interpretation of fasb statement no .109 201d 2022 fsp fas 13-2 , 201caccounting for a change or projected change in the timing of cash flows relating to income taxes generated by a leveraged lease transaction 201d 2022 sfas 156 , 201caccounting for servicing of financial assets 2013 an amendment of fasb statement no .140 201d 2022 sfas 155 , 201caccounting for certain hybrid financial instruments 2013 an amendment of fasb statements no .133 and 140 201d 2022 the emerging issues task force ( 201ceitf 201d ) of the fasb issued eitf issue 06-4 , 201caccounting for deferred compensation and postretirement benefit aspects of endorsement split-dollar life insurance arrangements 201d status of defined benefit pension plan we have a noncontributory , qualified defined benefit pension plan ( 201cplan 201d or 201cpension plan 201d ) covering eligible employees .benefits are derived from a cash balance formula based on compensation levels , age and length of service .pension contributions are based on an actuarially determined amount necessary to fund total benefits payable to plan participants .consistent with our investment strategy , plan assets are currently approximately 60% ( 60 % ) invested in equity investments with most of the remainder invested in fixed income instruments .plan fiduciaries determine and review the plan 2019s investment policy .we calculate the expense associated with the pension plan in accordance with sfas 87 , 201cemployers 2019 accounting for pensions , 201d and we use assumptions and methods that are compatible with the requirements of sfas 87 , including a policy of reflecting trust assets at their fair market value .on an annual basis , we review the actuarial assumptions related to the pension plan , including the discount rate , the rate of compensation increase and the expected return on plan assets .neither the discount rate nor the compensation increase assumptions significantly affects pension expense .the expected long-term return on assets assumption does significantly affect pension expense .the expected long-term return on plan assets for determining net periodic pension cost for 2007 was 8.25% ( 8.25 % ) , unchanged from 2006 .under current accounting rules , the difference between expected long-term returns and actual returns is accumulated and amortized to pension expense over future periods .each one percentage point difference in actual return compared with our expected return causes expense in subsequent years to change by up to $ 4 million as the impact is amortized into results of operations .the table below reflects the estimated effects on pension expense of certain changes in assumptions , using 2008 estimated expense as a baseline .change in assumption estimated increase to 2008 pension expense ( in millions ) .
[['change in assumption', 'estimatedincrease to 2008pensionexpense ( in millions )'], ['.5% ( .5 % ) decrease in discount rate', '$ 1'], ['.5% ( .5 % ) decrease in expected long-term return on assets', '$ 10'], ['.5% ( .5 % ) increase in compensation rate', '$ 2']]
we currently estimate a pretax pension benefit of $ 26 million in 2008 compared with a pretax benefit of $ 30 million in .
|
does a .5% ( .5 % ) decrease in expected long-term return on assets have a greater effect on pension expense than a .5% ( .5 % ) increase in compensation rate?
|
yes
|
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"answer": "yes",
"decimal": 1,
"type": "bool"
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| |
capital asset purchases associated with the retail segment were $ 294 million in 2007 , bringing the total capital asset purchases since inception of the retail segment to $ 1.0 billion .as of september 29 , 2007 , the retail segment had approximately 7900 employees and had outstanding operating lease commitments associated with retail store space and related facilities of $ 1.1 billion .the company would incur substantial costs if it were to close multiple retail stores .such costs could adversely affect the company 2019s financial condition and operating results .other segments the company 2019s other segments , which consists of its asia pacific and filemaker operations , experienced an increase in net sales of $ 406 million , or 30% ( 30 % ) during 2007 compared to 2006 .this increase related primarily to a 58% ( 58 % ) increase in sales of mac portable products and strong ipod sales in the company 2019s asia pacific region .during 2006 , net sales in other segments increased 35% ( 35 % ) compared to 2005 primarily due to an increase in sales of ipod and mac portable products .strong sales growth was a result of the introduction of the updated ipods featuring video-playing capabilities and the new intel-based mac portable products that translated to a 16% ( 16 % ) increase in mac unit sales during 2006 compared to 2005 .gross margin gross margin for each of the last three fiscal years are as follows ( in millions , except gross margin percentages ) : september 29 , september 30 , september 24 , 2007 2006 2005 .
[['', 'september 29 2007', 'september 30 2006', 'september 24 2005'], ['net sales', '$ 24006', '$ 19315', '$ 13931'], ['cost of sales', '15852', '13717', '9889'], ['gross margin', '$ 8154', '$ 5598', '$ 4042'], ['gross margin percentage', '34.0% ( 34.0 % )', '29.0% ( 29.0 % )', '29.0% ( 29.0 % )']]
gross margin percentage of 34.0% ( 34.0 % ) in 2007 increased significantly from 29.0% ( 29.0 % ) in 2006 .the primary drivers of this increase were more favorable costs on certain commodity components , including nand flash memory and dram memory , higher overall revenue that provided for more leverage on fixed production costs and a higher percentage of revenue from the company 2019s direct sales channels .the company anticipates that its gross margin and the gross margins of the personal computer , consumer electronics and mobile communication industries will be subject to pressure due to price competition .the company expects gross margin percentage to decline sequentially in the first quarter of 2008 primarily as a result of the full-quarter impact of product transitions and reduced pricing that were effected in the fourth quarter of 2007 , lower sales of ilife and iwork in their second quarter of availability , seasonally higher component costs , and a higher mix of indirect sales .these factors are expected to be partially offset by higher sales of the company 2019s mac os x operating system due to the introduction of mac os x version 10.5 leopard ( 2018 2018mac os x leopard 2019 2019 ) that became available in october 2007 .the foregoing statements regarding the company 2019s expected gross margin percentage are forward-looking .there can be no assurance that current gross margin percentage will be maintained or targeted gross margin percentage levels will be achieved .in general , gross margins and margins on individual products will remain under downward pressure due to a variety of factors , including continued industry wide global pricing pressures , increased competition , compressed product life cycles , potential increases in the cost and availability of raw material and outside manufacturing services , and a potential shift in the company 2019s sales mix towards products with lower gross margins .in response to these competitive pressures , the company expects it will continue to take pricing actions with respect to its products .gross margins could also be affected by the company 2019s ability to effectively manage product quality and warranty costs and to stimulate .
|
what was the highest gross margin percentage for the three year period?
|
34.0%
|
{
"answer": "34.0%",
"decimal": 0.34,
"type": "percentage"
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| |
our non-operating investment activity resulted in net losses of $ 12.7 million in 2009 and $ 52.3 million in 2008 .the improvement of nearly $ 40 million is primarily attributable to a reduction in the other than temporary impairments recognized on our investments in sponsored mutual funds in 2009 versus 2008 .the following table details our related mutual fund investment gains and losses ( in millions ) during the past two years. .
[['', '2008', '2009', 'change'], ['other than temporary impairments recognized', '$ -91.3 ( 91.3 )', '$ -36.1 ( 36.1 )', '$ 55.2'], ['capital gain distributions received', '5.6', '2.0', '-3.6 ( 3.6 )'], ['net gain ( loss ) realized on fund dispositions', '-4.5 ( 4.5 )', '7.4', '11.9'], ['net loss recognized on fund holdings', '$ -90.2 ( 90.2 )', '$ -26.7 ( 26.7 )', '$ 63.5']]
lower income of $ 16 million from our money market holdings due to the significantly lower interest rate environment offset the improvement experienced with our fund investments .there is no impairment of any of our mutual fund investments at december 31 , 2009 .the 2009 provision for income taxes as a percentage of pretax income is 37.1% ( 37.1 % ) , down from 38.4% ( 38.4 % ) in 2008 and .9% ( .9 % ) lower than our present estimate of 38.0% ( 38.0 % ) for the 2010 effective tax rate .our 2009 provision includes reductions of prior years 2019 tax provisions and discrete nonrecurring benefits that lowered our 2009 effective tax rate by 1.0% ( 1.0 % ) .2008 versus 2007 .investment advisory revenues decreased 6.3% ( 6.3 % ) , or $ 118 million , to $ 1.76 billion in 2008 as average assets under our management decreased $ 16 billion to $ 358.2 billion .the average annualized fee rate earned on our assets under management was 49.2 basis points in 2008 , down from the 50.2 basis points earned in 2007 , as lower equity market valuations resulted in a greater percentage of our assets under management being attributable to lower fee fixed income portfolios .continuing stress on the financial markets and resulting lower equity valuations as 2008 progressed resulted in lower average assets under our management , lower investment advisory fees and lower net income as compared to prior periods .net revenues decreased 5% ( 5 % ) , or $ 112 million , to $ 2.12 billion .operating expenses were $ 1.27 billion in 2008 , up 2.9% ( 2.9 % ) or $ 36 million from 2007 .net operating income for 2008 decreased $ 147.9 million , or 14.8% ( 14.8 % ) , to $ 848.5 million .higher operating expenses in 2008 and decreased market valuations during the latter half of 2008 , which lowered our assets under management and advisory revenues , resulted in our 2008 operating margin declining to 40.1% ( 40.1 % ) from 44.7% ( 44.7 % ) in 2007 .non-operating investment losses in 2008 were $ 52.3 million as compared to investment income of $ 80.4 million in 2007 .investment losses in 2008 include non-cash charges of $ 91.3 million for the other than temporary impairment of certain of the firm 2019s investments in sponsored mutual funds .net income in 2008 fell 27% ( 27 % ) or nearly $ 180 million from 2007 .diluted earnings per share , after the retrospective application of new accounting guidance effective in 2009 , decreased to $ 1.81 , down $ .59 or 24.6% ( 24.6 % ) from $ 2.40 in 2007 .a non-operating charge to recognize other than temporary impairments of our sponsored mutual fund investments reduced diluted earnings per share by $ .21 in 2008 .investment advisory revenues earned from the t .rowe price mutual funds distributed in the united states decreased 8.5% ( 8.5 % ) , or $ 114.5 million , to $ 1.24 billion .average mutual fund assets were $ 216.1 billion in 2008 , down $ 16.7 billion from 2007 .mutual fund assets at december 31 , 2008 , were $ 164.4 billion , down $ 81.6 billion from the end of 2007 .net inflows to the mutual funds during 2008 were $ 3.9 billion , including $ 1.9 billion to the money funds , $ 1.1 billion to the bond funds , and $ .9 billion to the stock funds .the value , equity index 500 , and emerging markets stock funds combined to add $ 4.1 billion , while the mid-cap growth and equity income stock funds had net redemptions of $ 2.2 billion .net fund inflows of $ 6.2 billion originated in our target-date retirement funds , which in turn invest in other t .rowe price funds .fund net inflow amounts in 2008 are presented net of $ 1.3 billion that was transferred to target-date trusts from the retirement funds during the year .decreases in market valuations and income not reinvested lowered our mutual fund assets under management by $ 85.5 billion during 2008 .investment advisory revenues earned on the other investment portfolios that we manage decreased $ 3.6 million to $ 522.2 million .average assets in these portfolios were $ 142.1 billion during 2008 , up slightly from $ 141.4 billion in 2007 .these minor changes , each less than 1% ( 1 % ) , are attributable to the timing of declining equity market valuations and cash flows among our separate account and subadvised portfolios .net inflows , primarily from institutional investors , were $ 13.2 billion during 2008 , including the $ 1.3 billion transferred from the retirement funds to target-date trusts .decreases in market valuations , net of income , lowered our assets under management in these portfolios by $ 55.3 billion during 2008 .management 2019s discussion & analysis 21 .
|
what was the value , in millions of dollars , of net revenues in 2007?
|
2232
|
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| |
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 average operating profit from 2000 to 2003
|
382.7
|
{
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"decimal": 382.7,
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| |
table of contents sl green realty corp .and sl green operating partnership , l.p .notes to consolidated financial statements ( cont. ) december 31 , 2018 pricing models , replacement cost , and termination cost are used to determine fair value .all methods of assessing fair value result in a general approximation of value , and such value may never actually be realized .in the normal course of business , we are exposed to the effect of interest rate changes and limit these risks by following established risk management policies and procedures including the use of derivatives .to address exposure to interest rates , derivatives are used primarily to fix the rate on debt based on floating-rate indices and manage the cost of borrowing obligations .we use a variety of conventional derivative products .these derivatives typically include interest rate swaps , caps , collars and floors .we expressly prohibit the use of unconventional derivative instruments and using derivative instruments for trading or speculative purposes .further , we have a policy of only entering into contracts with major financial institutions based upon their credit ratings and other factors .we may employ swaps , forwards or purchased options to hedge qualifying forecasted transactions .gains and losses related to these transactions are deferred and recognized in net income as interest expense in the same period or periods that the underlying transaction occurs , expires or is otherwise terminated .hedges that are reported at fair value and presented on the balance sheet could be characterized as cash flow hedges or fair value hedges .interest rate caps and collars are examples of cash flow hedges .cash flow hedges address the risk associated with future cash flows of interest payments .for all hedges held by us and which were deemed to be fully effective in meeting the hedging objectives established by our corporate policy governing interest rate risk management , no net gains or losses were reported in earnings .the changes in fair value of hedge instruments are reflected in accumulated other comprehensive income .for derivative instruments not designated as hedging instruments , the gain or loss , resulting from the change in the estimated fair value of the derivative instruments , is recognized in current earnings during the period of change .earnings per share of the company the company presents both basic and diluted earnings per share , or eps , using the two-class method , which is an earnings allocation formula that determines eps for common stock and any participating securities according to dividends declared ( whether paid or unpaid ) .under the two-class method , basic eps is computed by dividing the income available to common stockholders by the weighted-average number of common stock shares outstanding for the period .basic eps includes participating securities , consisting of unvested restricted stock that receive nonforfeitable dividends similar to shares of common stock .diluted eps reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock , where such exercise or conversion would result in a lower eps amount .diluted eps also includes units of limited partnership interest .the dilutive effect of stock options is reflected in the weighted average diluted outstanding shares calculation by application of the treasury stock method .there was no dilutive effect for the exchangeable senior notes as the conversion premium was to be paid in cash .earnings per unit of the operating partnership the operating partnership presents both basic and diluted earnings per unit , or epu , using the two-class method , which is an earnings allocation formula that determines epu for common units and any participating securities according to dividends declared ( whether paid or unpaid ) .under the two-class method , basic epu is computed by dividing the income available to common unitholders by the weighted-average number of common units outstanding for the period .basic epu includes participating securities , consisting of unvested restricted units that receive nonforfeitable dividends similar to shares of common units .diluted epu reflects the potential dilution that could occur if securities or other contracts to issue common units were exercised or converted into common units , where such exercise or conversion would result in a lower epu amount .the dilutive effect of unit options is reflected in the weighted average diluted outstanding units calculation by application of the treasury stock method .there was no dilutive effect for the exchangeable senior notes as the conversion premium was to be paid in cash .use of estimates the preparation of financial statements in conformity with accounting principles generally accepted in the united states requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes .actual results could differ from those estimates .concentrations of credit risk financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash investments , debt and preferred equity investments and accounts receivable .we place our cash investments with high quality financial institutions .the collateral securing our debt and preferred equity investments is located in the new york metropolitan area .see note 5 , "debt and preferred equity investments." table of contents sl green realty corp .and sl green operating partnership , l.p .notes to consolidated financial statements ( cont. ) december 31 , 2018 we perform ongoing credit evaluations of our tenants and require most tenants to provide security deposits or letters of credit .though these security deposits and letters of credit are insufficient to meet the total value of a tenant's lease obligation , they are a measure of good faith and a source of funds to offset the economic costs associated with lost revenue and the costs associated with re-tenanting a space .the properties in our real estate portfolio are located in the new york metropolitan area .the tenants located in our buildings operate in various industries .other than one tenant , credit suisse securities ( usa ) , inc. , who accounts for 8.2% ( 8.2 % ) of our share of annualized cash rent , no other tenant in our portfolio accounted for more than 5.0% ( 5.0 % ) of our share of annualized cash rent , including our share of joint venture annualized cash rent , at december 31 , 2018 .for the years ended december 31 , 2018 , 2017 , and 2016 , the following properties contributed more than 5.0% ( 5.0 % ) of our annualized cash rent , including our share of joint venture annualized cash rent: .
[['property 11 madison avenue', '2018 7.4% ( 7.4 % )', 'property 11 madison avenue', '2017 7.1% ( 7.1 % )', 'property 1515 broadway', '2016 8.8% ( 8.8 % )'], ['1185 avenue of the americas', '6.7% ( 6.7 % )', '1185 avenue of the americas', '7.1% ( 7.1 % )', '1185 avenue of the americas', '6.9% ( 6.9 % )'], ['420 lexington avenue', '6.5% ( 6.5 % )', '1515 broadway', '7.0% ( 7.0 % )', '11 madison avenue', '6.1% ( 6.1 % )'], ['1515 broadway', '6.0% ( 6.0 % )', '420 lexington avenue', '6.0% ( 6.0 % )', '420 lexington avenue', '5.9% ( 5.9 % )'], ['one madison avenue', '5.8% ( 5.8 % )', 'one madison avenue', '5.6% ( 5.6 % )', 'one madison avenue', '5.6% ( 5.6 % )']]
as of december 31 , 2018 , 68.7% ( 68.7 % ) of our work force is covered by six collective bargaining agreements and 56.0% ( 56.0 % ) of our work force , which services substantially all of our properties , is covered by collective bargaining agreements that expire in december 2019 .see note 19 , "benefits plans." reclassification certain prior year balances have been reclassified to conform to our current year presentation .accounting standards updates in october 2018 , the fasb issued accounting standard update ( asu ) no .2018-17 , consolidation ( topic 810 ) , targeted improvements to related party guidance for variable interest entities .under this amendment reporting entities , when determining if the decision-making fees are variable interests , are to consider indirect interests held through related parties under common control on a proportional basis rather than as a direct interest in its entirety .the guidance is effective for the company for fiscal years beginning after december 15 , 2019 .early adoption is permitted .the company has adopted this guidance and it had no impact on the company 2019s consolidated financial statements .in august 2018 , the securities and exchange commission adopted a final rule that eliminated or amended disclosure requirements that were redundant or outdated in light of changes in its requirements , generally accepted accounting principles , or changes in the business environment .the commission also referred certain disclosure requirements to the financial accounting standards board for potential incorporation into generally accepted accounting principles .the rule is effective for filings after november 5 , 2018 .the company assessed the impact of this rule and determined that the changes resulted in clarification or expansion of existing requirements .the company early adopted the rule upon publication to the federal register on october 5 , 2018 and it did not have a material impact on the company 2019s consolidated financial statements .in august 2018 , the fasb issued accounting standard update ( asu ) no .2018-15 , intangibles - goodwill and other- internal-use software ( topic 350-40 ) , customer 2019s accounting for implementation costs incurred in a cloud computing arrangement that is a service contract .the amendments provide guidance on accounting for fees paid when the arrangement includes a software license and align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing costs to develop or obtain internal-use software .the guidance is effective for the company for fiscal years beginning after december 15 , 2019 .early adoption is permitted .the company has not yet adopted this new guidance and does not expect it to have a material impact on the company 2019s consolidated financial statements when the new standard is implemented .in august 2018 , the fasb issued asu no .2018-13 , fair value measurement ( topic 820 ) , disclosure framework - changes to the disclosure requirements for fair value measurement .this amendment removed , modified and added the disclosure requirements under topic 820 .the changes are effective for the company for fiscal years beginning after december 15 , 2019 .early adoption is permitted for the removed or modified disclosures with adoption of the additional disclosures upon the effective date .the company has not yet adopted this new guidance and does not expect it to have a material impact on the company 2019s consolidated financial statements when the new standard is implemented. .
|
did credit suisse securities ( usa ) account for a greater % ( % ) of our share of annualized cash rent than the largest other property in 2018?
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements of its outstanding restricted stock awards and stock options and uses the if-converted method to calculate the effect of its outstanding mandatory convertible preferred stock .retirement plan 2014the company has a 401 ( k ) plan covering substantially all employees who meet certain age and employment requirements .for the years ended december 31 , 2014 and 2013 , the company matched 75% ( 75 % ) of the first 6% ( 6 % ) of a participant 2019s contributions .the company 2019s matching contribution for the year ended december 31 , 2012 was 50% ( 50 % ) of the first 6% ( 6 % ) of a participant 2019s contributions .for the years ended december 31 , 2014 , 2013 and 2012 , the company contributed approximately $ 6.5 million , $ 6.0 million and $ 4.4 million to the plan , respectively .accounting standards updates 2014in april 2014 , the financial accounting standards board ( the 201cfasb 201d ) issued additional guidance on reporting discontinued operations .under this guidance , only disposals representing a strategic shift in operations would be presented as discontinued operations .this guidance requires expanded disclosure that provides information about the assets , liabilities , income and expenses of discontinued operations .additionally , the guidance requires additional disclosure for a disposal of a significant part of an entity that does not qualify for discontinued operations reporting .this guidance is effective for reporting periods beginning on or after december 15 , 2014 , with early adoption permitted for disposals or classifications of assets as held-for-sale that have not been reported in financial statements previously issued or available for issuance .the company chose to early adopt this guidance during the year ended december 31 , 2014 and the adoption did not have a material effect on the company 2019s financial statements .in may 2014 , the fasb issued new revenue recognition guidance , which requires an entity to recognize revenue in an amount that reflects the consideration to which the entity expects to be entitled in exchange for the transfer of promised goods or services to customers .the standard will replace most existing revenue recognition guidance in gaap and will become effective on january 1 , 2017 .the standard permits the use of either the retrospective or cumulative effect transition method , and leases are not included in the scope of this standard .the company is evaluating the impact this standard may have on its financial statements .2 .prepaid and other current assets prepaid and other current assets consists of the following as of december 31 , ( in thousands ) : .
[['', '2014', '2013 ( 1 )'], ['prepaid operating ground leases', '$ 88508', '$ 96881'], ['prepaid income tax', '34512', '52612'], ['unbilled receivables', '25352', '25412'], ['prepaid assets', '23848', '34243'], ['value added tax and other consumption tax receivables', '23228', '77016'], ['other miscellaneous current assets', '59174', '61253'], ['balance as of december 31,', '$ 254622', '$ 347417']]
( 1 ) december 31 , 2013 balances have been revised to reflect purchase accounting measurement period adjustments. .
|
in millions , what were total tax related prepaids in 2014?
|
54770
|
{
"answer": "54770",
"decimal": 54770,
"type": "float"
}
| |
pipeline transportation 2013 we own a system of pipelines through marathon pipe line llc ( 201cmpl 201d ) and ohio river pipe line llc ( 201corpl 201d ) , our wholly-owned subsidiaries .our pipeline systems transport crude oil and refined products primarily in the midwest and gulf coast regions to our refineries , our terminals and other pipeline systems .our mpl and orpl wholly-owned and undivided interest common carrier systems consist of 1737 miles of crude oil lines and 1825 miles of refined product lines comprising 32 systems located in 11 states .the mpl common carrier pipeline network is one of the largest petroleum pipeline systems in the united states , based on total barrels delivered .our common carrier pipeline systems are subject to state and federal energy regulatory commission regulations and guidelines , including published tariffs for the transportation of crude oil and refined products .third parties generated 13 percent of the crude oil and refined product shipments on our mpl and orpl common carrier pipelines in 2009 .our mpl and orpl common carrier pipelines transported the volumes shown in the following table for each of the last three years .pipeline barrels handled ( thousands of barrels per day ) 2009 2008 2007 .
[['( thousands of barrels per day )', '2009', '2008', '2007'], ['crude oil trunk lines', '1279', '1405', '1451'], ['refined products trunk lines', '953', '960', '1049'], ['total', '2232', '2365', '2500']]
we also own 196 miles of private crude oil pipelines and 850 miles of private refined products pipelines , and we lease 217 miles of common carrier refined product pipelines .we have partial ownership interests in several pipeline companies that have approximately 780 miles of crude oil pipelines and 3600 miles of refined products pipelines , including about 970 miles operated by mpl .in addition , mpl operates most of our private pipelines and 985 miles of crude oil and 160 miles of natural gas pipelines owned by our e&p segment .our major refined product pipelines include the owned and operated cardinal products pipeline and the wabash pipeline .the cardinal products pipeline delivers refined products from kenova , west virginia , to columbus , ohio .the wabash pipeline system delivers product from robinson , illinois , to various terminals in the area of chicago , illinois .other significant refined product pipelines owned and operated by mpl extend from : robinson , illinois , to louisville , kentucky ; garyville , louisiana , to zachary , louisiana ; and texas city , texas , to pasadena , texas .in addition , as of december 31 , 2009 , we had interests in the following refined product pipelines : 2022 65 percent undivided ownership interest in the louisville-lexington system , a petroleum products pipeline system extending from louisville to lexington , kentucky ; 2022 60 percent interest in muskegon pipeline llc , which owns a refined products pipeline extending from griffith , indiana , to north muskegon , michigan ; 2022 50 percent interest in centennial pipeline llc , which owns a refined products system connecting the gulf coast region with the midwest market ; 2022 17 percent interest in explorer pipeline company , a refined products pipeline system extending from the gulf coast to the midwest ; and 2022 6 percent interest in wolverine pipe line company , a refined products pipeline system extending from chicago , illinois , to toledo , ohio .our major owned and operated crude oil lines run from : patoka , illinois , to catlettsburg , kentucky ; patoka , illinois , to robinson , illinois ; patoka , illinois , to lima , ohio ; lima , ohio to canton , ohio ; samaria , michigan , to detroit , michigan ; and st .james , louisiana , to garyville , louisiana .as of december 31 , 2009 , we had interests in the following crude oil pipelines : 2022 51 percent interest in loop llc , the owner and operator of loop , which is the only u.s .deepwater oil port , located 18 miles off the coast of louisiana , and a crude oil pipeline connecting the port facility to storage caverns and tanks at clovelly , louisiana ; 2022 59 percent interest in locap llc , which owns a crude oil pipeline connecting loop and the capline system; .
|
what was the greatest yearly production of crude oil trunk lines?
|
1451
|
{
"answer": "1451",
"decimal": 1451,
"type": "float"
}
| |
the following table illustrates the pro forma effect on net income and earnings per share as if all outstanding and unvested stock options in 2005 were accounted for using estimated fair value .2005year ended december 31 .
[['year ended december 31,', '2005'], ['( in millions except per share amounts )', ''], ['net income as reported', '$ 838'], ['add : stock option compensation expense included in reported net income net of related taxes', '20'], ['deduct : total stock option compensation expense determined under fair value method for all awards net of related taxes', '-27 ( 27 )'], ['pro forma net income', '$ 831'], ['earnings per share:', ''], ['basic 2014as reported', '$ 2.53'], ['basic 2014pro forma', '2.51'], ['diluted 2014as reported', '2.50'], ['diluted 2014pro forma', '2.48']]
basic earnings per share is calculated by dividing net income available to common shareholders by the weighted-average number of common shares outstanding for the period , which excludes unvested shares of restricted stock .diluted earnings per share is calculated by dividing net income available to common shareholders by the weighted-average number of common shares outstanding for the period and the shares representing the dilutive effect of stock options and awards and other equity-related financial instruments .the effect of stock options and restricted stock outstanding is excluded from the calculation of diluted earnings per share in periods in which their effect would be antidilutive .special purpose entities : we are involved with various legal forms of special purpose entities , or spes , in the normal course of our business .we use trusts to structure and sell certificated interests in pools of tax-exempt investment-grade assets principally to our mutual fund customers .these trusts are recorded in our consolidated financial statements .we transfer assets to these trusts , which are legally isolated from us , from our investment securities portfolio at adjusted book value .the trusts finance the acquisition of these assets by selling certificated interests issued by the trusts to third-party investors .the investment securities of the trusts are carried in investments securities available for sale at fair value .the certificated interests are carried in other short-term borrowings at the amount owed to the third-party investors .the interest revenue and interest expense generated by the investments and certificated interests , respectively , are recorded in net interest revenue when earned or incurred. .
|
what is the diluted number of outstanding shares based on the eps , ( in millions ) ?
|
335.2
|
{
"answer": "335.2",
"decimal": 335.2,
"type": "float"
}
| |
third-party sales for this segment increased 4% ( 4 % ) in 2014 compared with 2013 , primarily due to higher volumes and the acquisition of firth rixson ( $ 81 2014see above ) .the higher volumes were mostly related to the aerospace ( commercial ) and commercial transportation end markets , somewhat offset by lower volumes in the industrial gas turbine end market .atoi for the engineered products and solutions segment increased $ 16 in 2015 compared with 2014 , principally the result of net productivity improvements across most businesses , a positive contribution from inorganic growth , and overall higher volumes in this segment 2019s organic businesses .these positive impacts were partially offset by unfavorable price/product mix , higher costs related to growth projects , and net unfavorable foreign currency movements , primarily related to a weaker euro .atoi for this segment climbed $ 10 in 2014 compared with 2013 , mainly due to net productivity improvements across all businesses and overall higher volumes , partially offset by higher costs , primarily labor , and unfavorable product in 2016 , demand in the commercial aerospace end market is expected to remain strong , driven by significant order backlog .also , third-party sales will include a positive impact due to a full year of sales related to the acquisitions of rti and tital .additionally , net productivity improvements are anticipated while pricing pressure across all markets is expected .transportation and construction solutions .
[['', '2015', '2014', '2013'], ['third-party sales', '$ 1882', '$ 2021', '$ 1951'], ['atoi', '$ 166', '$ 180', '$ 167']]
this segment represents a portion of alcoa 2019s downstream operations and produces products that are used mostly in the nonresidential building and construction and commercial transportation end markets .such products include integrated aluminum structural systems , architectural extrusions , and forged aluminum commercial vehicle wheels , which are sold directly to customers and through distributors .a small part of this segment also produces aluminum products for the industrial products end market .generally , the sales and costs and expenses of this segment are transacted in the local currency of the respective operations , which are mostly the u.s .dollar , the euro , and the brazilian real .third-party sales for the transportation and construction solutions segment decreased 7% ( 7 % ) in 2015 compared with 2014 , primarily driven by unfavorable foreign currency movements , principally caused by a weaker euro and brazilian real , and lower volume related to the building and construction end market , somewhat offset by higher volume related to the commercial transportation end market .third-party sales for this segment increased 4% ( 4 % ) in 2014 compared with 2013 , mostly the result of higher volume related to the commercial transportation and building and construction end markets , somewhat offset by lower volume in the industrial products and market .atoi for the transportation and construction solutions segment declined $ 14 in 2015 compared with 2014 , mainly due to higher costs , net unfavorable foreign currency movements , primarily related to a weaker euro and brazilian real , and unfavorable price/product mix .these negative impacts were mostly offset by net productivity improvements across all businesses .atoi for this segment improved $ 13 in 2014 compared with 2013 , principally attributable to net productivity improvements across all businesses and overall higher volumes , partially offset by unfavorable product mix and higher costs , primarily labor .in 2016 , the non-residential building and construction end market is expected to improve through growth in north america but will be slightly offset by overall weakness in europe .also , north america build rates in the commercial .
|
what is the percentual contribution of the acquisition of firth rixson in the third-party sales in 2014?
|
4%
|
{
"answer": "4%",
"decimal": 0.04,
"type": "percentage"
}
|
it is the value of the acquisition of firth rixson divided by the total third-party sales .
|
the graph below compares expeditors international of washington , inc.'s cumulative 5-year total shareholder return on common stock with the cumulative total returns of the s&p 500 index and the nasdaq industrial transportation index ( nqusb2770t ) .the graph assumes that the value of the investment in our common stock and in each of the indexes ( including reinvestment of dividends ) was $ 100 on 12/31/2013 and tracks it through 12/31/2018 .total return assumes reinvestment of dividends in each of the indices indicated .comparison of 5-year cumulative total return among expeditors international of washington , inc. , the s&p 500 index and the nasdaq industrial transportation index. .
[['', '12/13', '12/14', '12/15', '12/16', '12/17', '12/18'], ['expeditors international of washington inc .', '$ 100.00', '$ 100.81', '$ 101.92', '$ 119.68', '$ 146.19', '$ 153.88'], ["standard and poor's 500 index", '100.00', '111.39', '110.58', '121.13', '144.65', '135.63'], ['nasdaq industrial transportation ( nqusb2770t )', '100.00', '121.41', '93.55', '120.89', '154.19', '140.25']]
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .
|
what is the difference in percentage of cumulative total return between expeditors international of washington inc . and the standard and poor's 500 index for the 5 year period ending 12/18?
|
18.25%
|
{
"answer": "18.25%",
"decimal": 0.1825,
"type": "percentage"
}
| |
notes to consolidated financial statements 2014 ( continued ) note 14 2014commitments and contingencies leases we conduct a major part of our operations using leased facilities and equipment .many of these leases have renewal and purchase options and provide that we pay the cost of property taxes , insurance and maintenance .rent expense on all operating leases for fiscal 2010 , 2009 and 2008 was $ 32.8 million , $ 30.2 million , and $ 30.4 million , respectively .future minimum lease payments for all noncancelable leases at may 31 , 2010 were as follows : operating leases .
[['', 'operating leases'], ['2011', '$ 9856'], ['2012', '3803'], ['2013', '2538'], ['2014', '1580'], ['2015', '928'], ['thereafter', '1428'], ['total future minimum lease payments', '$ 20133']]
we are party to a number of claims and lawsuits incidental to our business .in the opinion of management , the reasonably possible outcome of such matters , individually or in the aggregate , will not have a material adverse impact on our financial position , liquidity or results of operations .we define operating taxes as tax contingencies that are unrelated to income taxes , such as sales and property taxes .during the course of operations , we must interpret the meaning of various operating tax matters in the united states and in the foreign jurisdictions in which we do business .taxing authorities in those various jurisdictions may arrive at different interpretations of applicable tax laws and regulations as they relate to such operating tax matters , which could result in the payment of additional taxes in those jurisdictions .as of may 31 , 2010 and 2009 we did not have a liability for operating tax items .the amount of the liability is based on management 2019s best estimate given our history with similar matters and interpretations of current laws and regulations .bin/ica agreements in connection with our acquisition of merchant credit card operations of banks , we have entered into sponsorship or depository and processing agreements with certain of the banks .these agreements allow us to use the banks 2019 identification numbers , referred to as bank identification number for visa transactions and interbank card association number for mastercard transactions , to clear credit card transactions through visa and mastercard .certain of such agreements contain financial covenants , and we were in compliance with all such covenants as of may 31 , 2010 .on june 18 , 2010 , cibc provided notice that it will not renew its sponsorship with us for visa in canada after the initial ten year term .as a result , their canadian visa sponsorship will expire in march 2011 .we are .
|
what was the total rent expense on all operating leases for fiscal 2008 through 2010 in millions
|
93.4
|
{
"answer": "93.4",
"decimal": 93.4,
"type": "float"
}
| |
13 .rentals and leases the company leases sales and administrative office facilities , distribution centers , research and manufacturing facilities , as well as vehicles and other equipment under operating leases .total rental expense under the company 2019s operating leases was $ 239 million in 2017 and $ 221 million in both 2016 and 2015 .as of december 31 , 2017 , identifiable future minimum payments with non-cancelable terms in excess of one year were : ( millions ) .
[['2018', '$ 131'], ['2019', '115'], ['2020', '96'], ['2021', '86'], ['2022', '74'], ['thereafter', '115'], ['total', '$ 617']]
the company enters into operating leases for vehicles whose non-cancelable terms are one year or less in duration with month-to-month renewal options .these leases have been excluded from the table above .the company estimates payments under such leases will approximate $ 62 million in 2018 .these vehicle leases have guaranteed residual values that have historically been satisfied by the proceeds on the sale of the vehicles .14 .research and development expenditures research expenditures that relate to the development of new products and processes , including significant improvements and refinements to existing products , are expensed as incurred .such costs were $ 201 million in 2017 , $ 189 million in 2016 and $ 191 million in 2015 .the company did not participate in any material customer sponsored research during 2017 , 2016 or 2015 .15 .commitments and contingencies the company is subject to various claims and contingencies related to , among other things , workers 2019 compensation , general liability ( including product liability ) , automobile claims , health care claims , environmental matters and lawsuits .the company is also subject to various claims and contingencies related to income taxes , which are discussed in note 12 .the company also has contractual obligations including lease commitments , which are discussed in note 13 .the company records liabilities where a contingent loss is probable and can be reasonably estimated .if the reasonable estimate of a probable loss is a range , the company records the most probable estimate of the loss or the minimum amount when no amount within the range is a better estimate than any other amount .the company discloses a contingent liability even if the liability is not probable or the amount is not estimable , or both , if there is a reasonable possibility that a material loss may have been incurred .insurance globally , the company has insurance policies with varying deductibility levels for property and casualty losses .the company is insured for losses in excess of these deductibles , subject to policy terms and conditions and has recorded both a liability and an offsetting receivable for amounts in excess of these deductibles .the company is self-insured for health care claims for eligible participating employees , subject to certain deductibles and limitations .the company determines its liabilities for claims on an actuarial basis .litigation and environmental matters the company and certain subsidiaries are party to various lawsuits , claims and environmental actions that have arisen in the ordinary course of business .these include from time to time antitrust , commercial , patent infringement , product liability and wage hour lawsuits , as well as possible obligations to investigate and mitigate the effects on the environment of the disposal or release of certain chemical substances at various sites , such as superfund sites and other operating or closed facilities .the company has established accruals for certain lawsuits , claims and environmental matters .the company currently believes that there is not a reasonably possible risk of material loss in excess of the amounts accrued related to these legal matters .because litigation is inherently uncertain , and unfavorable rulings or developments could occur , there can be no certainty that the company may not ultimately incur charges in excess of recorded liabilities .a future adverse ruling , settlement or unfavorable development could result in future charges that could have a material adverse effect on the company 2019s results of operations or cash flows in the period in which they are recorded .the company currently believes that such future charges related to suits and legal claims , if any , would not have a material adverse effect on the company 2019s consolidated financial position .environmental matters the company is currently participating in environmental assessments and remediation at approximately 45 locations , the majority of which are in the u.s. , and environmental liabilities have been accrued reflecting management 2019s best estimate of future costs .potential insurance reimbursements are not anticipated in the company 2019s accruals for environmental liabilities. .
|
what is the percentage change in the r&d expenses from 2016 to 2017?
|
6.3%
|
{
"answer": "6.3%",
"decimal": 0.063,
"type": "percentage"
}
| |
61 of 93 is not necessarily indicative of the results of future operations that would have been achieved had the acquisitions taken place at the beginning of 2001 .pro forma information follows ( in millions , except per share amounts ) : .
[['', '2001'], ['net sales', '$ 5370'], ['net loss', '$ -44 ( 44 )'], ['basic loss per common share', '$ -0.13 ( 0.13 )'], ['diluted loss per common share', '$ -0.13 ( 0.13 )']]
note 5 -- restructuring charges fiscal 2003 restructuring actions the company recorded total restructuring charges of approximately $ 26.8 million during the year ended september 27 , 2003 , including approximately $ 7.4 million in severance costs , a $ 5.0 million charge to write-off deferred compensation , $ 7.1 million in asset impairments and a $ 7.3 million charge for lease cancellations .of the $ 26.8 million , nearly all had been spent by the end of 2003 , except for approximately $ 400000 of severance costs and approximately $ 4.5 million related to operating lease costs on abandoned facilities .during the third quarter of 2003 , approximately $ 500000 of the amount originally accrued for lease cancellations was determined to be in excess due to the sublease of a property sooner than originally estimated and an approximately $ 500000 shortfall was identified in the severance accrual due to higher than expected severance costs related to the closure of the company 2019s singapore manufacturing operations .these adjustments had no net effect on reported operating expense .during the second quarter of 2003 , the company 2019s management approved and initiated restructuring actions that resulted in recognition of a total restructuring charge of $ 2.8 million , including $ 2.4 million in severance costs and $ 400000 for asset write-offs and lease payments on an abandoned facility .actions taken in the second quarter were for the most part supplemental to actions initiated in the prior two quarters and focused on further headcount reductions in various sales and marketing functions in the company 2019s americas and europe operating segments and further reductions associated with powerschool-related activities in the americas operating segment , including an accrual for asset write-offs and lease payments on an abandoned facility .the second quarter actions resulted in the termination of 93 employees , 92 were terminated prior to the end of 2003 .during the first quarter of 2003 , the company 2019s management approved and initiated restructuring actions with a total cost of $ 24 million that resulted in the termination of manufacturing operations at the company-owned facility in singapore , further reductions in headcount resulting from the shift in powerschool product strategy that took place at the end of fiscal 2002 , and termination of various sales and marketing activities in the united states and europe .these restructuring actions will ultimately result in the elimination of 260 positions worldwide , all but one of which were eliminated by the end of 2003 .closure of the company 2019s singapore manufacturing operations resulted in severance costs of $ 1.8 million and costs of $ 6.7 million to write-off manufacturing related fixed assets , whose use ceased during the first quarter .powerschool related costs included severance of approximately $ 550000 and recognition of $ 5 million of previously deferred stock compensation that arose when powerschool was acquired by the company in 2001 related to certain powerschool employee stockholders who were terminated in the first quarter of 2003 .termination of sales and marketing activities and employees , principally in the united states and europe , resulted in severance costs of $ 2.8 million and accrual of costs associated with operating leases on closed facilities of $ 6.7 million .the total net restructuring charge of $ 23 million recognized during the first quarter of 2003 also reflects the reversal of $ 600000 of unused restructuring accrual originally made during the first quarter of 2002 .except for certain costs associated with operating leases on closed facilities , the company currently anticipates that all of the remaining accrual for severance costs of approximately $ 400000 will be spent by the end of the first quarter of fiscal 2004. .
|
what percentage of the total restructuring charges during the year ended september 27 , 2003 were severance costs?
|
27.6%
|
{
"answer": "27.6%",
"decimal": 0.276,
"type": "percentage"
}
| |
basel iii ( full implementation ) citigroup 2019s capital resources under basel iii ( full implementation ) citi currently estimates that its effective minimum common equity tier 1 capital , tier 1 capital and total capital ratio requirements under the u.s .basel iii rules , on a fully implemented basis and assuming a 3% ( 3 % ) gsib surcharge , may be 10% ( 10 % ) , 11.5% ( 11.5 % ) and 13.5% ( 13.5 % ) , respectively .further , under the u.s .basel iii rules , citi must also comply with a 4% ( 4 % ) minimum tier 1 leverage ratio requirement and an effective 5% ( 5 % ) minimum supplementary leverage ratio requirement .the following tables set forth the capital tiers , total risk-weighted assets , risk-based capital ratios , quarterly adjusted average total assets , total leverage exposure and leverage ratios , assuming full implementation under the u.s .basel iii rules , for citi as of december 31 , 2015 and december 31 , 2014 .citigroup capital components and ratios under basel iii ( full implementation ) december 31 , 2015 december 31 , 2014 ( 1 ) in millions of dollars , except ratios advanced approaches standardized approach advanced approaches standardized approach .
[['in millions of dollars except ratios', 'december 31 2015 advanced approaches', 'december 31 2015 standardized approach', 'december 31 2015 advanced approaches', 'standardized approach'], ['common equity tier 1 capital', '$ 146865', '$ 146865', '$ 136597', '$ 136597'], ['tier 1 capital', '164036', '164036', '148066', '148066'], ['total capital ( tier 1 capital + tier 2 capital ) ( 2 )', '186097', '198655', '165454', '178413'], ['total risk-weighted assets', '1216277', '1162884', '1292605', '1228488'], ['common equity tier 1 capital ratio ( 3 ) ( 4 )', '12.07% ( 12.07 % )', '12.63% ( 12.63 % )', '10.57% ( 10.57 % )', '11.12% ( 11.12 % )'], ['tier 1 capital ratio ( 3 ) ( 4 )', '13.49', '14.11', '11.45', '12.05'], ['total capital ratio ( 3 ) ( 4 )', '15.30', '17.08', '12.80', '14.52']]
common equity tier 1 capital ratio ( 3 ) ( 4 ) 12.07% ( 12.07 % ) 12.63% ( 12.63 % ) 10.57% ( 10.57 % ) 11.12% ( 11.12 % ) tier 1 capital ratio ( 3 ) ( 4 ) 13.49 14.11 11.45 12.05 total capital ratio ( 3 ) ( 4 ) 15.30 17.08 12.80 14.52 in millions of dollars , except ratios december 31 , 2015 december 31 , 2014 ( 1 ) quarterly adjusted average total assets ( 5 ) $ 1724710 $ 1835637 total leverage exposure ( 6 ) 2317849 2492636 tier 1 leverage ratio ( 4 ) 9.51% ( 9.51 % ) 8.07% ( 8.07 % ) supplementary leverage ratio ( 4 ) 7.08 5.94 ( 1 ) restated to reflect the retrospective adoption of asu 2014-01 for lihtc investments , consistent with current period presentation .( 2 ) under the advanced approaches framework eligible credit reserves that exceed expected credit losses are eligible for inclusion in tier 2 capital to the extent the excess reserves do not exceed 0.6% ( 0.6 % ) of credit risk-weighted assets , which differs from the standardized approach in which the allowance for credit losses is eligible for inclusion in tier 2 capital up to 1.25% ( 1.25 % ) of credit risk-weighted assets , with any excess allowance for credit losses being deducted in arriving at credit risk-weighted assets .( 3 ) as of december 31 , 2015 and december 31 , 2014 , citi 2019s common equity tier 1 capital , tier 1 capital , and total capital ratios were the lower derived under the basel iii advanced approaches framework .( 4 ) citi 2019s basel iii capital ratios and related components , on a fully implemented basis , are non-gaap financial measures .citi believes these ratios and the related components provide useful information to investors and others by measuring citi 2019s progress against future regulatory capital standards .( 5 ) tier 1 leverage ratio denominator .( 6 ) supplementary leverage ratio denominator. .
|
what is the difference in the tier 1 capital ratio between the advanced approaches and the standardized approach at december 31 , 2015?
|
-.62
|
{
"answer": "-.62",
"decimal": -0.62,
"type": "float"
}
| |
gain on land sales are derived from sales of undeveloped land owned by us .we pursue opportunities to dispose of land in markets with a high concentration of undeveloped land and in those markets where the land no longer meets our strategic development plans .the increase was partially attributable to a land sale to a current corporate tenant for potential future expansion .we recorded $ 424000 and $ 560000 of impairment charges associated with contracts to sell land parcels for the years ended december 31 , 2004 and 2003 , respectively .as of december 31 , 2004 , only one parcel on which we recorded impairment charges is still owned by us .we anticipate selling this parcel in the first quarter of 2005 .discontinued operations we have classified operations of 86 buildings as discontinued operations as of december 31 , 2004 .these 86 buildings consist of 69 industrial , 12 office and five retail properties .as a result , we classified net income from operations , net of minority interest , of $ 1.6 million , $ 6.3 million and $ 10.7 million as net income from discontinued operations for the years ended december 31 , 2004 , 2003 and 2002 , respectively .in addition , 41 of the properties classified in discontinued operations were sold during 2004 , 42 properties were sold during 2003 , two properties were sold during 2002 and one operating property is classified as held-for-sale at december 31 , 2004 .the gains on disposal of these properties , net of impairment adjustment and minority interest , of $ 23.9 million and $ 11.8 million for the years ended december 31 , 2004 and 2003 , respectively , are also reported in discontinued operations .for the year ended december 31 , 2002 , a $ 4.5 million loss on disposal of properties , net of impairment adjustments and minority interest , is reported in discontinued operations due to impairment charges of $ 7.7 million recorded on three properties in 2002 that were later sold in 2003 and 2004 .comparison of year ended december 31 , 2003 to year ended december 31 , 2002 rental income from continuing operations rental income from continuing operations increased from $ 652.8 million in 2002 to $ 689.3 million in 2003 .the following table reconciles rental income by reportable segment to our total reported rental income from continuing operations for the years ended december 31 , 2003 and 2002 ( in thousands ) : .
[['', '2003', '2002'], ['office', '$ 419962', '$ 393810'], ['industrial', '259762', '250391'], ['retail', '5863', '4733'], ['other', '3756', '3893'], ['total', '$ 689343', '$ 652827']]
although our three reportable segments comprising rental operations ( office , industrial and retail ) are all within the real estate industry , they are not necessarily affected by the same economic and industry conditions .for example , our retail segment experienced high occupancies and strong overall performance during 2003 , while our office and industrial segments reflected the weaker economic environment for those property types .the primary causes of the increase in rental income from continuing operations , with specific references to a particular segment when applicable , are summarized below : 25cf during 2003 , in-service occupancy improved from 87.1% ( 87.1 % ) at the end of 2002 to 89.3% ( 89.3 % ) at the end of 2003 .the second half of 2003 was highlighted by a significant increase in the industrial portfolio occupancy of 2.1% ( 2.1 % ) along with a slight increase in office portfolio occupancy of 0.9% ( 0.9 % ) .25cf lease termination fees totaled $ 27.4 million in 2002 compared to $ 16.2 million in 2003 .most of this decrease was attributable to the office segment , which recognized $ 21.1 million of termination fees in 2002 as compared to $ 11.8 million in 2003 .lease termination fees relate to specific tenants that pay a fee to terminate their lease obligations before the end of the contractual lease term .the high volume of termination fees in 2002 was reflective of the contraction of the business of large office users during that year and their desire to downsize their use of office space .the decrease in termination fees for 2003 was indicative of an improving economy and a more stable financial position of our tenants .25cf during the year ended 2003 , we acquired $ 232 million of properties totaling 2.1 million square feet .the acquisitions were primarily class a office buildings in existing markets with overall occupancy near 90% ( 90 % ) .revenues associated with these acquisitions totaled $ 11.9 million in 2003 .in addition , revenues from 2002 acquisitions totaled $ 15.8 million in 2003 compared to $ 4.8 million in 2002 .this significant increase is primarily due to a large office acquisition that closed at the end of december 2002 .25cf developments placed in-service in 2003 provided revenues of $ 6.6 million , while revenues associated with developments placed in-service in 2002 totaled $ 13.7 million in 2003 compared to $ 4.7 million in 25cf proceeds from dispositions of held for rental properties totaled $ 126.1 million in 2003 , compared to $ 40.9 million in 2002 .these properties generated revenue of $ 12.5 million in 2003 versus $ 19.6 million in 2002 .equity in earnings of unconsolidated companies equity in earnings represents our ownership share of net income from investments in unconsolidated companies .these joint ventures generally own and operate rental properties and hold land for development .these earnings decreased from $ 27.2 million in 2002 to $ 23.7 million in 2003 .this decrease is a result of the following significant activity: .
|
what is the percent change in rental income from continuing operations from 2002 to 2003?
|
5.59%
|
{
"answer": "5.59%",
"decimal": 0.0559,
"type": "percentage"
}
| |
our refining and wholesale marketing gross margin is the difference between the prices of refined products sold and the costs of crude oil and other charge and blendstocks refined , including the costs to transport these inputs to our refineries , the costs of purchased products and manufacturing expenses , including depreciation .the crack spread is a measure of the difference between market prices for refined products and crude oil , commonly used by the industry as a proxy for the refining margin .crack spreads can fluctuate significantly , particularly when prices of refined products do not move in the same relationship as the cost of crude oil .as a performance benchmark and a comparison with other industry participants , we calculate midwest ( chicago ) and u.s .gulf coast crack spreads that we feel most closely track our operations and slate of products .posted light louisiana sweet ( 201clls 201d ) prices and a 6-3-2-1 ratio of products ( 6 barrels of crude oil producing 3 barrels of gasoline , 2 barrels of distillate and 1 barrel of residual fuel ) are used for the crack spread calculation .our refineries can process significant amounts of sour crude oil which typically can be purchased at a discount to sweet crude oil .the amount of this discount , the sweet/sour differential , can vary significantly causing our refining and wholesale marketing gross margin to differ from the crack spreads which are based upon sweet crude .in general , a larger sweet/sour differential will enhance our refining and wholesale marketing gross margin .in 2009 , the sweet/sour differential narrowed , due to a variety of worldwide economic and petroleum industry related factors , primarily related to lower hydrocarbon demand .sour crude accounted for 50 percent , 52 percent and 54 percent of our crude oil processed in 2009 , 2008 and 2007 .the following table lists calculated average crack spreads for the midwest ( chicago ) and gulf coast markets and the sweet/sour differential for the past three years .( dollars per barrel ) 2009 2008 2007 .
[['( dollars per barrel )', '2009', '2008', '2007'], ['chicago lls 6-3-2-1', '$ 3.52', '$ 3.27', '$ 8.87'], ['u.s . gulf coast lls 6-3-2-1', '$ 2.54', '$ 2.45', '$ 6.42'], ['sweet/sour differential ( a )', '$ 5.82', '$ 11.99', '$ 11.59']]
sweet/sour differential ( a ) $ 5.82 $ 11.99 $ 11.59 ( a ) calculated using the following mix of crude types as compared to lls. : 15% ( 15 % ) arab light , 20% ( 20 % ) kuwait , 10% ( 10 % ) maya , 15% ( 15 % ) western canadian select , 40% ( 40 % ) mars .in addition to the market changes indicated by the crack spreads and sweet/sour differential , our refining and wholesale marketing gross margin is impacted by factors such as : 2022 the types of crude oil and other charge and blendstocks processed , 2022 the selling prices realized for refined products , 2022 the impact of commodity derivative instruments used to manage price risk , 2022 the cost of products purchased for resale , and 2022 changes in manufacturing costs , which include depreciation .manufacturing costs are primarily driven by the cost of energy used by our refineries and the level of maintenance costs .planned turnaround and major maintenance activities were completed at our catlettsburg , garyville , and robinson refineries in 2009 .we performed turnaround and major maintenance activities at our robinson , catlettsburg , garyville and canton refineries in 2008 and at our catlettsburg , robinson and st .paul park refineries in 2007 .our retail marketing gross margin for gasoline and distillates , which is the difference between the ultimate price paid by consumers and the cost of refined products , including secondary transportation and consumer excise taxes , also impacts rm&t segment profitability .there are numerous factors including local competition , seasonal demand fluctuations , the available wholesale supply , the level of economic activity in our marketing areas and weather conditions that impact gasoline and distillate demand throughout the year .refined product demand increased for several years until 2008 when it decreased due to the combination of significant increases in retail petroleum prices , a broad slowdown in general economic activity , and the impact of increased ethanol blending into gasoline .in 2009 refined product demand continued to decline .for our marketing area , we estimate a gasoline demand decline of about one percent and a distillate demand decline of about 12 percent from 2008 levels .market demand declines for gasoline and distillates generally reduce the product margin we can realize .we also estimate gasoline and distillate demand in our marketing area decreased about three percent in 2008 compared to 2007 levels .the gross margin on merchandise sold at retail outlets has been historically less volatile. .
|
by what percentage did the average crack spread for sweet/sour differential decrease from 2007 to 2009?
|
-49.8%
|
{
"answer": "-49.8%",
"decimal": -0.498,
"type": "percentage"
}
| |
key operating and financial activities significant operating and financial activities during 2012 include : 2022 net proved reserve additions for the e&p and osm segments combined of 389 mmboe , for a 226 percent reserve replacement 2022 increased proved liquid hydrocarbon and synthetic crude oil reserves by 316 mmbbls , for a reserve replacement of 268 percent for these commodities 2022 recorded more than 95 percent average operational availability for operated e&p assets 2022 increased e&p net sales volumes , excluding libya , by 8 percent 2022 eagle ford shale average net sales volumes of 65 mboed for december 2012 , a fourfold increase over december 2011 2022 bakken shale average net sales volumes of 29 mboed , a 71 percent increase over last year 2022 resumed sales from libya and reached pre-conflict production levels 2022 international liquid hydrocarbon sales volumes , for which average realizations have exceeded wti , were 62 percent of net e&p liquid hydrocarbon sales 2022 closed $ 1 billion of acquisitions in the core of the eagle ford shale 2022 assumed operatorship of the vilje field located offshore norway 2022 signed agreements for new exploration positions in e.g. , gabon , kenya and ethiopia 2022 issued $ 1 billion of 3-year senior notes at 0.9 percent interest and $ 1 billion of 10-year senior notes at 2.8 percent interest some significant 2013 activities through february 22 , 2013 include : 2022 closed sale of our alaska assets in january 2013 2022 closed sale of our interest in the neptune gas plant in february 2013 consolidated results of operations : 2012 compared to 2011 consolidated income before income taxes was 38 percent higher in 2012 than consolidated income from continuing operations before income taxes were in 2011 , largely due to higher liquid hydrocarbon sales volumes in our e&p segment , partially offset by lower earnings from our osm and ig segments .the 7 percent decrease in income from continuing operations included lower earnings in the u.k .and e.g. , partially offset by higher earnings in libya .also , in 2011 we were not in an excess foreign tax credit position for the entire year as we were in 2012 .the effective income tax rate for continuing operations was 74 percent in 2012 compared to 61 percent in 2011 .revenues are summarized in the following table: .
[['( in millions )', '2012', '2011'], ['e&p', '$ 14084', '$ 13029'], ['osm', '1552', '1588'], ['ig', '2014', '93'], ['segment revenues', '15636', '14710'], ['elimination of intersegment revenues', '2014', '-47 ( 47 )'], ['unrealized gain on crude oil derivative instruments', '52', '2014'], ['total revenues', '$ 15688', '$ 14663']]
e&p segment revenues increased $ 1055 million from 2011 to 2012 , primarily due to higher average liquid hydrocarbon sales volumes .e&p segment revenues included a net realized gain on crude oil derivative instruments of $ 15 million in 2012 while the impact of derivatives was not significant in 2011 .see item 8 .financial statements and supplementary data 2013 note 16 to the consolidated financial statement for more information about our crude oil derivative instruments .included in our e&p segment are supply optimization activities which include the purchase of commodities from third parties for resale .see the cost of revenues discussion as revenues from supply optimization approximate the related costs .supply optimization serves to aggregate volumes in order to satisfy transportation commitments and to achieve flexibility within product .
|
what was the change in the effective income tax rate for continuing operations between in 2012 compared to 2011?
|
13
|
{
"answer": "13",
"decimal": 13,
"type": "float"
}
| |
performance graph the table below compares the cumulative total shareholder return on our common stock with the cumulative total return of ( i ) the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) , ( ii ) the standard & poor 2019s industrials index ( 201cs&p industrials index 201d ) and ( iii ) the standard & poor 2019s consumer durables & apparel index ( 201cs&p consumer durables & apparel index 201d ) , from december 31 , 2005 through december 31 , 2010 , when the closing price of our common stock was $ 12.66 .the graph assumes investments of $ 100 on december 31 , 2005 in our common stock and in each of the three indices and the reinvestment of dividends .performance graph 201020092008200720062005 s&p 500 index s&p industrials index s&p consumer durables & apparel index the table below sets forth the value , as of december 31 for each of the years indicated , of a $ 100 investment made on december 31 , 2005 in each of our common stock , the s&p 500 index , the s&p industrials index and the s&p consumer durables & apparel index and includes the reinvestment of dividends. .
[['', '2006', '2007', '2008', '2009', '2010'], ['masco', '$ 101.79', '$ 76.74', '$ 42.81', '$ 54.89', '$ 51.51'], ['s&p 500 index', '$ 115.61', '$ 121.95', '$ 77.38', '$ 97.44', '$ 111.89'], ['s&p industrials index', '$ 113.16', '$ 126.72', '$ 76.79', '$ 92.30', '$ 116.64'], ['s&p consumer durables & apparel index', '$ 106.16', '$ 84.50', '$ 56.13', '$ 76.51', '$ 99.87']]
in july 2007 , our board of directors authorized the purchase of up to 50 million shares of our common stock in open-market transactions or otherwise .at december 31 , 2010 , we had remaining authorization to repurchase up to 27 million shares .during 2010 , we repurchased and retired three million shares of our common stock , for cash aggregating $ 45 million to offset the dilutive impact of the 2010 grant of three million shares of long-term stock awards .we did not purchase any shares during the three months ended december 31 , 2010. .
|
what was percent of the remaining authorization to repurchase of the 2007 authorized the purchase at december 2010
|
54%
|
{
"answer": "54%",
"decimal": 0.54,
"type": "percentage"
}
|
the remaining authorization to repurchase of the 2007 authorized the purchase at december 2013
|
prior to its adoption of sfas no .123 ( r ) , the company recorded compensation expense for restricted stock awards on a straight-line basis over their vesting period .if an employee forfeited the award prior to vesting , the company reversed out the previously expensed amounts in the period of forfeiture .as required upon adoption of sfas no .123 ( r ) , the company must base its accruals of compensation expense on the estimated number of awards for which the requisite service period is expected to be rendered .actual forfeitures are no longer recorded in the period of forfeiture .in 2005 , the company recorded a pre-tax credit of $ 2.8 million in cumulative effect of accounting change , that represents the amount by which compensation expense would have been reduced in periods prior to adoption of sfas no .123 ( r ) for restricted stock awards outstanding on july 1 , 2005 that are anticipated to be forfeited .a summary of non-vested restricted stock award and restricted stock unit activity is presented below : shares ( in thousands ) weighted- average date fair .
[['', 'shares ( in thousands )', 'weighted- average grant date fair value'], ['non-vested at december 31 2006:', '2878', '$ 13.01'], ['issued', '830', '$ 22.85'], ['released ( vested )', '-514 ( 514 )', '$ 15.93'], ['canceled', '-1197 ( 1197 )', '$ 13.75'], ['non-vested at december 31 2007:', '1997', '$ 15.91']]
as of december 31 , 2007 , there was $ 15.3 million of total unrecognized compensation cost related to non-vested awards .this cost is expected to be recognized over a weighted-average period of 1.6 years .the total fair value of restricted shares and restricted stock units vested was $ 11.0 million , $ 7.5 million and $ 4.1 million for the years ended december 31 , 2007 , 2006 and 2005 , respectively .employee stock purchase plan the shareholders of the company previously approved the 2002 employee stock purchase plan ( 201c2002 purchase plan 201d ) , and reserved 5000000 shares of common stock for sale to employees at a price no less than 85% ( 85 % ) of the lower of the fair market value of the common stock at the beginning of the one-year offering period or the end of each of the six-month purchase periods .under sfas no .123 ( r ) , the 2002 purchase plan was considered compensatory .effective august 1 , 2005 , the company changed the terms of its purchase plan to reduce the discount to 5% ( 5 % ) and discontinued the look-back provision .as a result , the purchase plan was not compensatory beginning august 1 , 2005 .for the year ended december 31 , 2005 , the company recorded $ 0.4 million in compensation expense for its employee stock purchase plan for the period in which the 2002 plan was considered compensatory until the terms were changed august 1 , 2005 .at december 31 , 2007 , 757123 shares were available for purchase under the 2002 purchase plan .401 ( k ) plan the company has a 401 ( k ) salary deferral program for eligible employees who have met certain service requirements .the company matches certain employee contributions ; additional contributions to this plan are at the discretion of the company .total contribution expense under this plan was $ 5.7 million , $ 5.7 million and $ 5.2 million for the years ended december 31 , 2007 , 2006 and 2005 , respectively. .
|
what was the ratio of the total fair value of restricted shares and restricted stock units vested in 2007 to 2006
|
1.47
|
{
"answer": "1.47",
"decimal": 1.47,
"type": "float"
}
|
total fair value of restricted shares and restricted stock units vested in 2007 to 2006 was 1.47 to 1
|
incremental contract start-up costs 2014large municipal contract .during 2018 and 2017 , we incurred costs of $ 5.7 million and $ 8.2 million , respectively , related to the implementation of a large municipal contract .these costs did not meet the capitalization criteria prescribed by the new revenue recognition standard .adoption of the tax act .the tax act was enacted on december 22 , 2017 .among other things , the tax act reduced the u.s .federal corporate tax rate from 35% ( 35 % ) to 21% ( 21 % ) .for the year ended december 31 , 2017 , we recorded provisional amounts based on our estimates of the tax act 2019s effect to our deferred taxes , uncertain tax positions , and one-time transition tax .these adjustments reduced our tax provision by $ 463.9 million .during 2018 , we adjusted the provisional amounts recorded as of december 31 , 2017 for the one-time transition tax , deferred taxes and uncertain tax positions .these adjustments increased our tax provision by $ 0.3 million .bridgeton insurance recovery , net .during 2018 , we collected an insurance recovery of $ 40.0 million related to our closed bridgeton landfill in missouri , which we recognized as a reduction of remediation expenses in our cost of operations .in addition , we incurred $ 12.0 million of incremental costs attributable to the bridgeton insurance recovery .recent developments 2019 financial guidance in 2019 , we will continue to focus on managing the controllable aspects of our business by enhancing the quality of our revenue , investing in profitable growth opportunities and reducing costs .our team remains focused on executing our strategy to deliver consistent earnings and free cash flow growth , and improve return on invested capital .we are committed to an efficient capital structure , maintaining our investment grade credit ratings and increasing cash returned to our shareholders .our guidance is based on current economic conditions and does not assume any significant changes in the overall economy in 2019 .specific guidance follows : revenue we expect 2019 revenue to increase by approximately 4.25 to 4.75% ( 4.75 % ) comprised of the following : increase ( decrease ) .
[['', 'increase ( decrease )'], ['average yield', '2.75% ( 2.75 % )'], ['volume', '0.0 to 0.25'], ['energy services', '2013'], ['fuel recovery fees', '0.25'], ['recycling processing and commodity sales', '0.25 to 0.5'], ['acquisitions / divestitures net', '1.0'], ['total change', '4.25 to 4.75% ( 4.75 % )']]
changes in price are restricted on approximately 50% ( 50 % ) of our annual service revenue .the majority of these restricted pricing arrangements are tied to fluctuations in a specific index ( primarily a consumer price index ) as defined in the contract .the consumer price index varies from a single historical stated period of time or an average of trailing historical rates over a stated period of time .in addition , the initial effect of pricing resets typically lags 6 to 12 months from the end of the index measurement period to the date the revised pricing goes into effect .as a result , current changes in a specific index may not manifest themselves in our reported pricing for several quarters into the future. .
|
what is the ratio of the acquisitions / divestitures net to the fuel recovery fees as part of the expected 2019 revenue to increase
|
4
|
{
"answer": "4",
"decimal": 4,
"type": "float"
}
| |
jpmorgan chase & co./2016 annual report 35 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co .( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 index , the kbw bank index and the s&p financial index .the s&p 500 index is a commonly referenced united states of america ( 201cu.s . 201d ) equity benchmark consisting of leading companies from different economic sectors .the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s .and is composed of leading national money center and regional banks and thrifts .the s&p financial index is an index of financial companies , all of which are components of the s&p 500 .the firm is a component of all three industry indices .the following table and graph assume simultaneous investments of $ 100 on december 31 , 2011 , in jpmorgan chase common stock and in each of the above indices .the comparison assumes that all dividends are reinvested .december 31 , ( in dollars ) 2011 2012 2013 2014 2015 2016 .
[['december 31 ( in dollars )', '2011', '2012', '2013', '2014', '2015', '2016'], ['jpmorgan chase', '$ 100.00', '$ 136.18', '$ 186.17', '$ 204.57', '$ 221.68', '$ 298.31'], ['kbw bank index', '100.00', '133.03', '183.26', '200.42', '201.40', '258.82'], ['s&p financial index', '100.00', '128.75', '174.57', '201.06', '197.92', '242.94'], ['s&p 500 index', '100.00', '115.99', '153.55', '174.55', '176.95', '198.10']]
december 31 , ( in dollars ) .
|
did jpmorgan chase outperform the kbw bank index 100.00?\\n
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
performance based restricted stock awards is generally recognized using the accelerated amortization method with each vesting tranche valued as a separate award , with a separate vesting date , consistent with the estimated value of the award at each period end .additionally , compensation expense is adjusted for actual forfeitures for all awards in the period that the award was forfeited .compensation expense for stock options is generally recognized on a straight-line basis over the requisite service period .maa presents stock compensation expense in the consolidated statements of operations in "general and administrative expenses" .effective january 1 , 2017 , the company adopted asu 2016-09 , improvements to employee share- based payment accounting , which allows employers to make a policy election to account for forfeitures as they occur .the company elected this option using the modified retrospective transition method , with a cumulative effect adjustment to retained earnings , and there was no material effect on the consolidated financial position or results of operations taken as a whole resulting from the reversal of previously estimated forfeitures .total compensation expense under the stock plan was approximately $ 10.8 million , $ 12.2 million and $ 6.9 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .of these amounts , total compensation expense capitalized was approximately $ 0.2 million , $ 0.7 million and $ 0.7 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .as of december 31 , 2017 , the total unrecognized compensation expense was approximately $ 14.1 million .this cost is expected to be recognized over the remaining weighted average period of 1.2 years .total cash paid for the settlement of plan shares totaled $ 4.8 million , $ 2.0 million and $ 1.0 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .information concerning grants under the stock plan is listed below .restricted stock in general , restricted stock is earned based on either a service condition , performance condition , or market condition , or a combination thereof , and generally vests ratably over a period from 1 year to 5 years .service based awards are earned when the employee remains employed over the requisite service period and are valued on the grant date based upon the market price of maa common stock on the date of grant .market based awards are earned when maa reaches a specified stock price or specified return on the stock price ( price appreciation plus dividends ) and are valued on the grant date using a monte carlo simulation .performance based awards are earned when maa reaches certain operational goals such as funds from operations , or ffo , targets and are valued based upon the market price of maa common stock on the date of grant as well as the probability of reaching the stated targets .maa remeasures the fair value of the performance based awards each balance sheet date with adjustments made on a cumulative basis until the award is settled and the final compensation is known .the weighted average grant date fair value per share of restricted stock awards granted during the years ended december 31 , 2017 , 2016 and 2015 , was $ 84.53 , $ 73.20 and $ 68.35 , respectively .the following is a summary of the key assumptions used in the valuation calculations for market based awards granted during the years ended december 31 , 2017 , 2016 and 2015: .
[['', '2017', '2016', '2015'], ['risk free rate', '0.65% ( 0.65 % ) - 1.57% ( 1.57 % )', '0.49% ( 0.49 % ) - 1.27% ( 1.27 % )', '0.10% ( 0.10 % ) - 1.05% ( 1.05 % )'], ['dividend yield', '3.573% ( 3.573 % )', '3.634% ( 3.634 % )', '3.932% ( 3.932 % )'], ['volatility', '20.43% ( 20.43 % ) - 21.85% ( 21.85 % )', '18.41% ( 18.41 % ) - 19.45% ( 19.45 % )', '15.41% ( 15.41 % ) - 16.04% ( 16.04 % )'], ['requisite service period', '3 years', '3 years', '3 years']]
the risk free rate was based on a zero coupon risk-free rate .the minimum risk free rate was based on a period of 0.25 years for the years ended december 31 , 2017 , 2016 and 2015 .the maximum risk free rate was based on a period of 3 years for the years ended december 31 , 2017 , 2016 and 2015 .the dividend yield was based on the closing stock price of maa stock on the date of grant .volatility for maa was obtained by using a blend of both historical and implied volatility calculations .historical volatility was based on the standard deviation of daily total continuous returns , and implied volatility was based on the trailing month average of daily implied volatilities interpolating between the volatilities implied by stock call option contracts that were closest to the terms shown and closest to the money .the minimum volatility was based on a period of 3 years , 2 years and 1 year for the years ended december 31 , 2017 , 2016 and 2015 , respectively .the maximum volatility was based on a period of 1 year , 1 year and 2 years for the years ended december 31 , 2017 , 2016 and 2015 , respectively .the requisite service period is based on the criteria for the separate programs according to the vesting schedule. .
|
what was the percent of the change in the weighted average grant date fair value per share of restricted stock from 2016 to 2017
|
15.5%
|
{
"answer": "15.5%",
"decimal": 0.155,
"type": "percentage"
}
|
the weighted average grant date fair value per share of restricted stock increased by 15.5% from 2016 to 2017
|
management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) corporate and other expenses increased slightly during 2013 by $ 3.5 to $ 140.8 compared to 2012 , primarily due to an increase in salaries and related expenses , mainly attributable to higher base salaries , benefits and temporary help , partially offset by lower severance expenses and a decrease in office and general expenses .liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity , capital resources and uses of capital. .
[['cash flow data', 'years ended december 31 , 2014', 'years ended december 31 , 2013', 'years ended december 31 , 2012'], ['net income adjusted to reconcile net income to net cashprovided by operating activities1', '$ 831.2', '$ 598.4', '$ 697.2'], ['net cash used in working capital b2', '-131.1 ( 131.1 )', '-9.6 ( 9.6 )', '-293.2 ( 293.2 )'], ['changes in other non-current assets and liabilities using cash', '-30.6 ( 30.6 )', '4.1', '-46.8 ( 46.8 )'], ['net cash provided by operating activities', '$ 669.5', '$ 592.9', '$ 357.2'], ['net cash used in investing activities', '-200.8 ( 200.8 )', '-224.5 ( 224.5 )', '-210.2 ( 210.2 )'], ['net cash ( used in ) provided by financing activities', '-343.9 ( 343.9 )', '-1212.3 ( 1212.3 )', '131.3']]
1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets , amortization of restricted stock and other non-cash compensation , non-cash ( gain ) loss related to early extinguishment of debt , and deferred income taxes .2 reflects changes in accounts receivable , expenditures billable to clients , other current assets , accounts payable and accrued liabilities .operating activities net cash provided by operating activities during 2014 was $ 669.5 , which was an improvement of $ 76.6 as compared to 2013 , primarily as a result of an increase in net income , offset by an increase in working capital usage of $ 121.5 .due to the seasonality of our business , we typically generate cash from working capital in the second half of a year and use cash from working capital in the first half of a year , with the largest impacts in the first and fourth quarters .our net working capital usage in 2014 was impacted by our media businesses .net cash provided by operating activities during 2013 was $ 592.9 , which was an increase of $ 235.7 as compared to 2012 , primarily as a result of an improvement in working capital usage of $ 283.6 , offset by a decrease in net income .the improvement in working capital in 2013 was impacted by our media businesses and an ongoing focus on working capital management at our agencies .the timing of media buying on behalf of our clients affects our working capital and operating cash flow .in most of our businesses , our agencies enter into commitments to pay production and media costs on behalf of clients .to the extent possible we pay production and media charges after we have received funds from our clients .the amounts involved substantially exceed our revenues and primarily affect the level of accounts receivable , expenditures billable to clients , accounts payable and accrued liabilities .our assets include both cash received and accounts receivable from clients for these pass-through arrangements , while our liabilities include amounts owed on behalf of clients to media and production suppliers .our accrued liabilities are also affected by the timing of certain other payments .for example , while annual cash incentive awards are accrued throughout the year , they are generally paid during the first quarter of the subsequent year .investing activities net cash used in investing activities during 2014 primarily related to payments for capital expenditures and acquisitions .capital expenditures of $ 148.7 related primarily to computer hardware and software and leasehold improvements .we made payments of $ 67.8 related to acquisitions completed during 2014 , net of cash acquired. .
|
by how many percent did the net cash provided by operating activities increase from 2013 to 2014?
|
12.92%
|
{
"answer": "12.92%",
"decimal": 0.1292,
"type": "percentage"
}
| |
net impairment we recognized $ 14.9 million of net impairment during the year ended december 31 , 2011 , on certain securities in our non-agency cmo portfolio due to continued deterioration in the expected credit performance of the underlying loans in those specific securities .the gross other-than-temporary impairment ( 201cotti 201d ) and the noncredit portion of otti , which was or had been previously recorded through other comprehensive income , are shown in the table below ( dollars in millions ) : year ended december 31 , 2011 2010 .
[['', 'year ended december31 2011', '2010'], ['other-than-temporary impairment ( 201cotti 201d )', '$ -9.2 ( 9.2 )', '$ -41.5 ( 41.5 )'], ['less : noncredit portion of otti recognized into ( out of ) other comprehensive income ( loss ) ( before tax )', '-5.7 ( 5.7 )', '3.8'], ['net impairment', '$ -14.9 ( 14.9 )', '$ -37.7 ( 37.7 )']]
other revenues other revenues decreased 15% ( 15 % ) to $ 39.3 million for the year ended december 31 , 2011 compared to 2010 .the decrease was due primarily to the gain on sale of approximately $ 1 billion in savings accounts to discover financial services in the first quarter of 2010 , which increased other revenues during the year ended december 31 , 2010 .provision for loan losses provision for loan losses decreased 43% ( 43 % ) to $ 440.6 million for the year ended december 31 , 2011 compared to 2010 .the decrease in provision for loan losses was driven by improving credit trends and loan portfolio run-off , as evidenced by the lower levels of delinquent loans in the one- to four-family and home equity loan portfolios .the provision for loan losses has declined for three consecutive years , down 72% ( 72 % ) from its peak of $ 1.6 billion for the year ended december 31 , 2008 .we expect provision for loan losses to continue to decline in 2012 compared to 2011 , although it is subject to variability from quarter to quarter .as we transition from the ots to the occ , we are evaluating programs and practices that were designed in accordance with guidance from the ots .we are working to align certain policies and procedures to the guidance from the occ and have suspended certain loan modification programs that will require changes .we increased the qualitative reserve in 2011 to reflect additional estimated losses during the period of reduced activity in our modification programs , as well as uncertainty around certain loans modified under our previous programs .once the evaluation of the existing programs and practices is complete and any necessary changes have been implemented , we will re-assess the overall qualitative reserve. .
|
as december 312011 what was the amount of the provision for impairment in billion
|
1.152
|
{
"answer": "1.152",
"decimal": 1.152,
"type": "float"
}
|
as december 312011 the amount of the provision for impairment in billion was 1.152 compared to 1.6 in 2008
|
notes to consolidated financial statements 2014 ( continued ) a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in thousands ) : .
[['balance at september 29 2007', '$ 7315'], ['increases based on positions related to prior years', '351'], ['increases based on positions related to current year', '813'], ['decreases relating to lapses of applicable statutes of limitations', '-605 ( 605 )'], ['balance at october 3 2008', '$ 7874']]
the company 2019s major tax jurisdictions as of october 3 , 2008 for fin 48 are the u.s. , california , and iowa .for the u.s. , the company has open tax years dating back to fiscal year 1998 due to the carryforward of tax attributes .for california , the company has open tax years dating back to fiscal year 2002 due to the carryforward of tax attributes .for iowa , the company has open tax years dating back to fiscal year 2002 due to the carryforward of tax attributes .during the year ended october 3 , 2008 , the statute of limitations period expired relating to an unrecognized tax benefit .the expiration of the statute of limitations period resulted in the recognition of $ 0.6 million of previously unrecognized tax benefit , which impacted the effective tax rate , and $ 0.5 million of accrued interest related to this tax position was reversed during the year .including this reversal , total year-to-date accrued interest related to the company 2019s unrecognized tax benefits was a benefit of $ 0.4 million .10 .stockholders 2019 equity common stock the company is authorized to issue ( 1 ) 525000000 shares of common stock , par value $ 0.25 per share , and ( 2 ) 25000000 shares of preferred stock , without par value .holders of the company 2019s common stock are entitled to such dividends as may be declared by the company 2019s board of directors out of funds legally available for such purpose .dividends may not be paid on common stock unless all accrued dividends on preferred stock , if any , have been paid or declared and set aside .in the event of the company 2019s liquidation , dissolution or winding up , the holders of common stock will be entitled to share pro rata in the assets remaining after payment to creditors and after payment of the liquidation preference plus any unpaid dividends to holders of any outstanding preferred stock .each holder of the company 2019s common stock is entitled to one vote for each such share outstanding in the holder 2019s name .no holder of common stock is entitled to cumulate votes in voting for directors .the company 2019s second amended and restated certificate of incorporation provides that , unless otherwise determined by the company 2019s board of directors , no holder of common stock has any preemptive right to purchase or subscribe for any stock of any class which the company may issue or sell .in march 2007 , the company repurchased approximately 4.3 million of its common shares for $ 30.1 million as authorized by the company 2019s board of directors .the company has no publicly disclosed stock repurchase plans .at october 3 , 2008 , the company had 170322804 shares of common stock issued and 165591830 shares outstanding .preferred stock the company 2019s second amended and restated certificate of incorporation permits the company to issue up to 25000000 shares of preferred stock in one or more series and with rights and preferences that may be fixed or designated by the company 2019s board of directors without any further action by the company 2019s stockholders .the designation , powers , preferences , rights and qualifications , limitations and restrictions of the preferred stock of each skyworks solutions , inc .2008 annual report %%transmsg*** transmitting job : a51732 pcn : 099000000 ***%%pcmsg|103 |00005|yes|no|03/26/2009 13:34|0|0|page is valid , no graphics -- color : d| .
|
what is the total increase ross unrecognized tax benefits based on positions related to prior and current year?
|
462
|
{
"answer": "462",
"decimal": 462,
"type": "float"
}
| |
natural gas prices on average were lower in 2009 than in 2008 and in 2007 , with prices in 2008 hitting uniquely high levels .a significant portion of our natural gas production in the lower 48 states of the u.s .is sold at bid-week prices or first-of-month indices relative to our specific producing areas .a large portion of natural gas sales in alaska are subject to term contracts .our other major natural gas-producing regions are europe and equatorial guinea , where large portions of our natural gas sales are also subject to term contracts , making realized prices in these areas less volatile .as we sell larger quantities of natural gas from these regions , to the extent that these fixed prices are lower than prevailing prices , our reported average natural gas prices realizations may be less than benchmark natural gas prices .oil sands mining oil sands mining segment revenues correlate with prevailing market prices for the various qualities of synthetic crude oil and vacuum gas oil we produce .roughly two-thirds of the normal output mix will track movements in wti and one-third will track movements in the canadian heavy sour crude oil marker , primarily western canadian select .output mix can be impacted by operational problems or planned unit outages at the mine or the upgrader .the operating cost structure of the oil sands mining operations is predominantly fixed and therefore many of the costs incurred in times of full operation continue during production downtime .per-unit costs are sensitive to production rates .key variable costs are natural gas and diesel fuel , which track commodity markets such as the canadian aeco natural gas sales index and crude prices respectively .the table below shows average benchmark prices that impact both our revenues and variable costs. .
[['benchmark', '2009', '2008', '2007'], ['wti crude oil ( dollars per barrel )', '$ 62.09', '$ 99.75', '$ 72.41'], ['western canadian select ( dollars per barrel ) ( a )', '$ 52.13', '$ 79.59', '$ 49.60'], ['aeco natural gas sales index ( dollars per mmbtu ) ( b )', '$ 3.49', '$ 7.74', '$ 6.06']]
western canadian select ( dollars per barrel ) ( a ) $ 52.13 $ 79.59 $ 49.60 aeco natural gas sales index ( dollars per mmbtu ) ( b ) $ 3.49 $ 7.74 $ 6.06 ( a ) monthly pricing based upon average wti adjusted for differentials unique to western canada .( b ) alberta energy company day ahead index .integrated gas our integrated gas strategy is to link stranded natural gas resources with areas where a supply gap is emerging due to declining production and growing demand .our integrated gas operations include marketing and transportation of products manufactured from natural gas , such as lng and methanol , primarily in west africa , the u.s .and europe .our most significant lng investment is our 60 percent ownership in a production facility in equatorial guinea , which sells lng under a long-term contract at prices tied to henry hub natural gas prices .in 2009 , the gross sales from the plant were 3.9 million metric tonnes , while in 2008 , its first full year of operations , the plant sold 3.4 million metric tonnes .industry estimates of 2009 lng trade are approximately 185 million metric tonnes .more lng production facilities and tankers were under construction in 2009 .as a result of the sharp worldwide economic downturn in 2008 , continued weak economies are expected to lower natural gas consumption in various countries ; therefore , affecting near-term demand for lng .long-term lng supply continues to be in demand as markets seek the benefits of clean burning natural gas .market prices for lng are not reported or posted .in general , lng delivered to the u.s .is tied to henry hub prices and will track with changes in u.s .natural gas prices , while lng sold in europe and asia is indexed to crude oil prices and will track the movement of those prices .we own a 45 percent interest in a methanol plant located in equatorial guinea through our investment in ampco .gross sales of methanol from the plant totaled 960374 metric tonnes in 2009 and 792794 metric tonnes in 2008 .methanol demand has a direct impact on ampco 2019s earnings .because global demand for methanol is rather limited , changes in the supply-demand balance can have a significant impact on sales prices .the 2010 chemical markets associates , inc .estimates world demand for methanol in 2009 was 41 million metric tonnes .our plant capacity is 1.1 million , or about 3 percent of total demand .refining , marketing and transportation rm&t segment income depends largely on our refining and wholesale marketing gross margin , refinery throughputs and retail marketing gross margins for gasoline , distillates and merchandise. .
|
what was the difference in the average price of wti crude oil and western canadian select during 2008??
|
$ 20.16
|
{
"answer": "$ 20.16",
"decimal": 20.16,
"type": "money"
}
| |
entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 175.4 million primarily due to the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense .also contributing to the increase were lower other operation and maintenance expenses , higher net revenue , and higher other income .the increase was partially offset by higher depreciation and amortization expenses , higher interest expense , and higher nuclear refueling outage expenses .2015 compared to 2014 net income increased slightly , by $ 0.6 million , primarily due to higher net revenue and a lower effective income tax rate , offset by higher other operation and maintenance expenses , higher depreciation and amortization expenses , lower other income , and higher interest expense .net revenue 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', '69.0'], ['transmission equalization', '-6.5 ( 6.5 )'], ['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 transmission equalization variance is primarily due to changes in transmission investments , including entergy louisiana 2019s exit from the system agreement in august 2016 .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 .
|
what is the growth rate in net revenue in 2016 for entergy louisiana?
|
1.2%
|
{
"answer": "1.2%",
"decimal": 0.012,
"type": "percentage"
}
| |
royal caribbean cruises ltd .15 from two to 17 nights throughout south america , the caribbean and europe .additionally , we announced that majesty of the seas will be redeployed from royal caribbean international to pullmantur in 2016 .pullmantur serves the contemporary segment of the spanish , portuguese and latin american cruise mar- kets .pullmantur 2019s strategy is to attract cruise guests from these target markets by providing a variety of cruising options and onboard activities directed at couples and families traveling with children .over the last few years , pullmantur has systematically increased its focus on latin america and has expanded its pres- ence in that market .in order to facilitate pullmantur 2019s ability to focus on its core cruise business , on march 31 , 2014 , pullmantur sold the majority of its interest in its non-core busi- nesses .these non-core businesses included pullmantur 2019s land-based tour operations , travel agency and 49% ( 49 % ) interest in its air business .in connection with the sale agreement , we retained a 19% ( 19 % ) interest in each of the non-core businesses as well as 100% ( 100 % ) ownership of the aircraft which are being dry leased to pullmantur air .see note 1 .general and note 6 .other assets to our consolidated financial statements under item 8 .financial statements and supplementary data for further details .cdf croisi e8res de france we currently operate two ships with an aggregate capacity of approximately 2800 berths under our cdf croisi e8res de france brand .cdf croisi e8res de france offers seasonal itineraries to the mediterranean , europe and caribbean .during the winter season , zenith is deployed to the pullmantur brand for sailings in south america .cdf croisi e8res de france is designed to serve the contemporary segment of the french cruise market by providing a brand tailored for french cruise guests .tui cruises tui cruises is a joint venture owned 50% ( 50 % ) by us and 50% ( 50 % ) by tui ag , a german tourism and shipping com- pany , and is designed to serve the contemporary and premium segments of the german cruise market by offering a product tailored for german guests .all onboard activities , services , shore excursions and menu offerings are designed to suit the preferences of this target market .tui cruises operates three ships , mein schiff 1 , mein schiff 2 and mein schiff 3 , with an aggregate capacity of approximately 6300 berths .in addition , tui cruises currently has three newbuild ships on order at the finnish meyer turku yard with an aggregate capacity of approximately 7500 berths : mein schiff 4 , scheduled for delivery in the second quarter of 2015 , mein schiff 5 , scheduled for delivery in the third quarter of 2016 and mein schiff 6 , scheduled for delivery in the second quarter of 2017 .in november 2014 , we formed a strategic partnership with ctrip.com international ltd .( 201cctrip 201d ) , a chinese travel service provider , to operate a new cruise brand known as skysea cruises .skysea cruises will offer a custom-tailored product for chinese cruise guests operating the ship purchased from celebrity cruises .the new cruise line will begin service in the second quarter of 2015 .we and ctrip each own 35% ( 35 % ) of the new company , skysea holding , with the balance being owned by skysea holding management and a private equity fund .industry cruising is considered a well-established vacation sector in the north american market , a growing sec- tor over the long term in the european market and a developing but promising sector in several other emerging markets .industry data indicates that market penetration rates are still low and that a significant portion of cruise guests carried are first-time cruisers .we believe this presents an opportunity for long-term growth and a potential for increased profitability .the following table details market penetration rates for north america and europe computed based on the number of annual cruise guests as a percentage of the total population : america ( 1 ) europe ( 2 ) .
[['year', 'north america ( 1 )', 'europe ( 2 )'], ['2010', '3.1% ( 3.1 % )', '1.1% ( 1.1 % )'], ['2011', '3.4% ( 3.4 % )', '1.1% ( 1.1 % )'], ['2012', '3.3% ( 3.3 % )', '1.2% ( 1.2 % )'], ['2013', '3.4% ( 3.4 % )', '1.2% ( 1.2 % )'], ['2014', '3.5% ( 3.5 % )', '1.3% ( 1.3 % )']]
( 1 ) source : our estimates are based on a combination of data obtained from publicly available sources including the interna- tional monetary fund and cruise lines international association ( 201cclia 201d ) .rates are based on cruise guests carried for at least two consecutive nights .includes the united states of america and canada .( 2 ) source : our estimates are based on a combination of data obtained from publicly available sources including the interna- tional monetary fund and clia europe , formerly european cruise council .we estimate that the global cruise fleet was served by approximately 457000 berths on approximately 283 ships at the end of 2014 .there are approximately 33 ships with an estimated 98650 berths that are expected to be placed in service in the global cruise market between 2015 and 2019 , although it is also possible that ships could be ordered or taken out of service during these periods .we estimate that the global cruise industry carried 22.0 million cruise guests in 2014 compared to 21.3 million cruise guests carried in 2013 and 20.9 million cruise guests carried in 2012 .part i .
|
what is the anticipated increase in the number of global cruise fleet berths from 2015 to 2019
|
21.6%
|
{
"answer": "21.6%",
"decimal": 0.21600000000000003,
"type": "percentage"
}
| |
billion at december 31 , 2008 and december 31 , 2007 , respectively .securities and other marketable assets held as collateral amounted to $ 27 billion and $ 54 billion , the majority of which collateral is held to reimburse losses realized under securities lending indemnifications .the decrease from the prior year is in line with the decrease in the notional amount of these indemnifications , which are collateralized .additionally , letters of credit in favor of the company held as collateral amounted to $ 503 million and $ 370 million at december 31 , 2008 and december 31 , 2007 , respectively .other property may also be available to the company to cover losses under certain guarantees and indemnifications ; however , the value of such property has not been determined .performance risk citigroup evaluates the performance risk of its guarantees based on the assigned referenced counterparty internal or external ratings .where external ratings are used , investment-grade ratings are considered to be baa/bbb and above , while anything below is considered non-investment grade .the citigroup internal ratings are in line with the related external rating system .on certain underlying referenced credits or entities , ratings are not available .such referenced credits are included in the 201cnot-rated 201d category .the maximum potential amount of the future payments related to guarantees and credit derivatives sold is determined to be the notional amount of these contracts , which is the par amount of the assets guaranteed .presented in the table below is the maximum potential amount of future payments classified based upon internal and external credit ratings as of december 31 , 2008 .as previously mentioned , the determination of the maximum potential future payments is based on the notional amount of the guarantees without consideration of possible recoveries under recourse provisions or from collateral held or pledged .such amounts bear no relationship to the anticipated losses , if any , on these guarantees. .
[['in billions of dollars', 'maximum potential amount of future payments investment grade', 'maximum potential amount of future payments non-investment grade', 'maximum potential amount of future payments not rated', 'maximum potential amount of future payments total'], ['financial standby letters of credit', '$ 49.2', '$ 28.6', '$ 16.4', '$ 94.2'], ['performance guarantees', '5.7', '5.0', '5.6', '16.3'], ['derivative instruments deemed to be guarantees', '2014', '2014', '67.9', '67.9'], ['guarantees of collection of contractual cash flows', '2014', '2014', '0.3', '0.3'], ['loans sold with recourse', '2014', '2014', '0.3', '0.3'], ['securities lending indemnifications', '2014', '2014', '47.6', '47.6'], ['credit card merchant processing', '2014', '2014', '56.7', '56.7'], ['custody indemnifications and other', '18.5', '3.1', '2014', '21.6'], ['total', '$ 73.4', '$ 36.7', '$ 194.8', '$ 304.9']]
credit derivatives a credit derivative is a bilateral contract between a buyer and a seller under which the seller sells protection against the credit risk of a particular entity ( 201creference entity 201d or 201creference credit 201d ) .credit derivatives generally require that the seller of credit protection make payments to the buyer upon the occurrence of predefined credit events ( commonly referred to as 201csettlement triggers 201d ) .these settlement triggers are defined by the form of the derivative and the reference credit and are generally limited to the market standard of failure to pay on indebtedness and bankruptcy of the reference credit and , in a more limited range of transactions , debt restructuring .credit derivative transactions referring to emerging market reference credits will also typically include additional settlement triggers to cover the acceleration of indebtedness and the risk of repudiation or a payment moratorium .in certain transactions , protection may be provided on a portfolio of referenced credits or asset-backed securities .the seller of such protection may not be required to make payment until a specified amount of losses has occurred with respect to the portfolio and/or may only be required to pay for losses up to a specified amount .the company makes markets in and trades a range of credit derivatives , both on behalf of clients as well as for its own account .through these contracts , the company either purchases or writes protection on either a single name or a portfolio of reference credits .the company uses credit derivatives to help mitigate credit risk in its corporate loan portfolio and other cash positions , to take proprietary trading positions , and to facilitate client transactions .the range of credit derivatives sold includes credit default swaps , total return swaps and credit options .a credit default swap is a contract in which , for a fee , a protection seller ( guarantor ) agrees to reimburse a protection buyer ( beneficiary ) for any losses that occur due to a credit event on a reference entity .if there is no credit default event or settlement trigger , as defined by the specific derivative contract , then the guarantor makes no payments to the beneficiary and receives only the contractually specified fee .however , if a credit event occurs and in accordance with the specific derivative contract sold , the guarantor will be required to make a payment to the beneficiary .a total return swap transfers the total economic performance of a reference asset , which includes all associated cash flows , as well as capital appreciation or depreciation .the protection buyer ( beneficiary ) receives a floating rate of interest and any depreciation on the reference asset from the protection seller ( guarantor ) , and in return the protection seller receives the cash flows associated with the reference asset , plus any appreciation .thus , the beneficiary will be obligated to make a payment any time the floating interest rate payment according to the total return swap agreement and any depreciation of the reference asset exceed the cash flows associated with the underlying asset .a total return swap may terminate upon a default of the reference asset subject to the provisions in the related total return swap agreement between the protection seller ( guarantor ) and the protection buyer ( beneficiary ) . .
|
what percent of total maximum potential amount of future payments are backed by performance guarrantees ? \\n
|
5%
|
{
"answer": "5%",
"decimal": 0.05,
"type": "percentage"
}
| |
cash and cash equivalents - the carrying amounts of cash and cash equivalents approximate fair value due to the short-term nature of these assets , which have original maturity dates of 90 days or less .concentration risk - the company 2019s assets that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents .the company places its cash and cash equivalents with reputable financial institutions and limits the amount of credit exposure with any one of them .the company regularly evaluates the creditworthiness of these financial institutions and minimizes this credit risk by entering into transactions with high- quality counterparties , limiting the exposure to each counterparty , and monitoring the financial condition of its counterparties .in connection with its u.s .government contracts , the company is required to procure certain raw materials , components , and parts from supply sources approved by the u.s .government .only one supplier may exist for certain components and parts required to manufacture the company's products .accounts receivable - accounts receivable include amounts billed and currently due from customers , amounts currently due but unbilled , certain estimated contract change amounts , claims or requests for equitable adjustment in negotiation that are probable of recovery , and amounts retained by the customer pending contract completion .inventoried costs - inventoried costs primarily relate to production costs of contracts in process and company owned raw materials , which are stated at the lower of cost or net realizable value , generally using the average cost method .under the company's u.s .government contracts , the customer asserts title to , or a security interest in , inventories related to such contracts as a result of contract advances , performance-based payments , and progress payments .in accordance with industry practice , inventoried costs are classified as a current asset and include amounts related to contracts having production cycles longer than one year .inventoried costs also include work in process under contracts that recognize revenues using labor dollars as the basis of the percentage-of-completion calculation .these costs represent accumulated contract costs less cost of sales as calculated using the percentage-of-completion method , not in excess of recoverable value .advance payments and billings in excess of revenues - payments received in excess of inventoried costs and revenues are recorded as advance payment liabilities .property , plant , and equipment - depreciable properties owned by the company are recorded at cost and depreciated over the estimated useful lives of individual assets .major improvements are capitalized while expenditures for maintenance , repairs , and minor improvements are expensed .costs incurred for computer software developed or obtained for internal use are capitalized and amortized over the expected useful life of the software , not to exceed nine years .leasehold improvements are amortized over the shorter of their useful lives or the term of the lease .the remaining assets are depreciated using the straight-line method , with the following lives: .
[['land improvements', 'years 2', 'years -', 'years 40'], ['buildings and improvements', '2', '-', '60'], ['capitalized software costs', '2', '-', '9'], ['machinery and other equipment', '2', '-', '45']]
the company evaluates the recoverability of its property , plant , and equipment when there are changes in economic circumstances or business objectives that indicate the carrying value may not be recoverable .the company's evaluations include estimated future cash flows , profitability , and other factors affecting fair value .as these assumptions and estimates may change over time , it may or may not be necessary to record impairment charges .leases - the company uses its incremental borrowing rate in the assessment of lease classification as capital or operating and defines the initial lease term to include renewal options determined to be reasonably assured .the company conducts operations primarily under operating leases. .
|
what is the difference in depreciation years of the maximum length for land improvements and buildings and improvements?
|
20
|
{
"answer": "20",
"decimal": 20,
"type": "float"
}
| |
long-term product offerings include alpha-seeking active and index strategies .our alpha-seeking active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile , and leverage fundamental research and 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 alpha-seeking 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 .net flows in institutional index products generally have a small impact on blackrock 2019s revenues and earnings .equity year-end 2017 equity aum totaled $ 3.372 trillion , reflecting net inflows of $ 130.1 billion .net inflows included $ 174.4 billion into ishares etfs , driven by net inflows into core funds and broad developed and emerging market equities , partially offset by non-etf index and active net outflows of $ 25.7 billion and $ 18.5 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 equity revenues and effective fee rate .fixed income fixed income aum ended 2017 at $ 1.855 trillion , reflecting net inflows of $ 178.8 billion .in 2017 , active net inflows of $ 21.5 billion were diversified across fixed income offerings , and included strong inflows into municipal , unconstrained and total return bond funds .ishares etfs net inflows of $ 67.5 billion were led by flows into core , corporate and treasury bond funds .non-etf index net inflows of $ 89.8 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 2017 are presented below .( in millions ) december 31 , net inflows ( outflows ) market change impact december 31 .
[['( in millions )', 'december 312016', 'net inflows ( outflows )', 'marketchange', 'fximpact', 'december 312017'], ['asset allocation and balanced', '$ 176675', '$ -2502 ( 2502 )', '$ 17387', '$ 4985', '$ 196545'], ['target date/risk', '149432', '23925', '24532', '1577', '199466'], ['fiduciary', '68395', '-1047 ( 1047 )', '7522', '8819', '83689'], ['futureadvisor ( 1 )', '505', '-46 ( 46 )', '119', '2014', '578'], ['total', '$ 395007', '$ 20330', '$ 49560', '$ 15381', '$ 480278']]
( 1 ) futureadvisor amounts do not include aum held in ishares etfs .multi-asset net inflows reflected ongoing institutional demand for our solutions-based advice with $ 18.9 billion of net inflows coming from institutional clients .defined contribution plans of institutional clients remained a significant driver of flows , and contributed $ 20.8 billion to institutional multi-asset net inflows in 2017 , primarily into target date and target risk product offerings .retail net inflows of $ 1.1 billion reflected demand for our multi-asset income fund family , which raised $ 5.8 billion in 2017 .the company 2019s multi-asset strategies include the following : 2022 asset allocation and balanced products represented 41% ( 41 % ) 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 16% ( 16 % ) organically in 2017 , with net inflows of $ 23.9 billion .institutional investors represented 93% ( 93 % ) of target date and target risk aum , with defined contribution plans accounting for 87% ( 87 % ) of aum .flows were driven by defined contribution investments in our lifepath offerings .lifepath products utilize a proprietary active asset allocation overlay model that seeks to balance risk and return over an investment horizon based on the investor 2019s expected retirement timing .underlying investments are primarily index products .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 investment 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. .
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what was the value of the total fximpact and market change impact ? in million $ .
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64941
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{
"answer": "64941",
"decimal": 64941,
"type": "float"
}
|
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