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is&gs 2019 operating profit decreased $ 60 million , or 8% ( 8 % ) , for 2014 compared to 2013 .the decrease was primarily attributable to the activities mentioned above for sales , lower risk retirements and reserves recorded on an international program , partially offset by severance recoveries related to the restructuring announced in november 2013 of approximately $ 20 million for 2014 .adjustments not related to volume , including net profit booking rate adjustments , were approximately $ 30 million lower for 2014 compared to 2013 .2013 compared to 2012 is&gs 2019 net sales decreased $ 479 million , or 5% ( 5 % ) , for 2013 compared to 2012 .the decrease was attributable to lower net sales of about $ 495 million due to decreased volume on various programs ( command and control programs for classified customers , ngi and eram programs ) ; and approximately $ 320 million due to the completion of certain programs ( such as total information processing support services , the transportation worker identification credential and the outsourcing desktop initiative for nasa ) .the decrease was partially offset by higher net sales of about $ 340 million due to the start-up of certain programs ( such as the disa gsm-o and the national science foundation antarctic support ) .is&gs 2019 operating profit decreased $ 49 million , or 6% ( 6 % ) , for 2013 compared to 2012 .the decrease was primarily attributable to lower operating profit of about $ 55 million due to certain programs nearing the end of their life cycles , partially offset by higher operating profit of approximately $ 15 million due to the start-up of certain programs .adjustments not related to volume , including net profit booking rate adjustments and other matters , were comparable for 2013 compared to 2012 .backlog backlog increased in 2014 compared to 2013 primarily due to several multi-year international awards and various u.s .multi-year extensions .this increase was partially offset by declining activities on various direct warfighter support and command and control programs impacted by defense budget reductions .backlog decreased in 2013 compared to 2012 primarily due to lower orders on several programs ( such as eram and ngi ) , higher sales on certain programs ( the national science foundation antarctic support and the disa gsm-o ) and declining activities on several smaller programs primarily due to the continued downturn in federal information technology budgets .trends we expect is&gs 2019 net sales to decline in 2015 in the low to mid single digit percentage range as compared to 2014 , primarily driven by the continued downturn in federal information technology budgets , an increasingly competitive environment , including the disaggregation of existing contracts , and new contract award delays , partially offset by increased sales resulting from acquisitions that occurred during the year .operating profit is expected to decline in the low double digit percentage range in 2015 primarily driven by volume and an increase in intangible amortization from 2014 acquisition activity , resulting in 2015 margins that are lower than 2014 results .missiles and fire control our mfc business segment provides air and missile defense systems ; tactical missiles and air-to-ground precision strike weapon systems ; logistics and other technical services ; fire control systems ; mission operations support , readiness , engineering support and integration services ; and manned and unmanned ground vehicles .mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system , hellfire , jassm , javelin , apache , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) and sof clss .mfc 2019s operating results included the following ( in millions ) : .
[['', '2014', '2013', '2012'], ['net sales', '$ 7680', '$ 7757', '$ 7457'], ['operating profit', '1358', '1431', '1256'], ['operating margins', '17.7% ( 17.7 % )', '18.4% ( 18.4 % )', '16.8% ( 16.8 % )'], ['backlog at year-end', '$ 13600', '$ 15000', '$ 14700']]
2014 compared to 2013 mfc 2019s net sales for 2014 decreased $ 77 million , or 1% ( 1 % ) , compared to 2013 .the decrease was primarily attributable to lower net sales of approximately $ 385 million for technical services programs due to decreased volume reflecting market pressures ; and about $ 115 million for tactical missile programs due to fewer deliveries ( primarily high mobility artillery .
|
what is the growth rate in operating profit for mfc in 2013?
|
13.9%
|
{
"answer": "13.9%",
"decimal": 0.139,
"type": "percentage"
}
| |
visa inc .notes to consolidated financial statements 2014 ( continued ) september 30 , 2016 note 16 2014share-based compensation 2007 equity incentive compensation plan the company 2019s 2007 equity incentive compensation plan , or the eip , authorizes the compensation committee of the board of directors to grant non-qualified stock options ( 201coptions 201d ) , restricted stock awards ( 201crsas 201d ) , restricted stock units ( 201crsus 201d ) and performance-based shares to its employees and non-employee directors , for up to 236 million shares of class a common stock .shares available for award may be either authorized and unissued or previously issued shares subsequently acquired by the company .the eip will continue to be in effect until all of the common stock available under the eip is delivered and all restrictions on those shares have lapsed , unless the eip is terminated earlier by the company 2019s board of directors .in january 2016 , the company 2019s board of directors approved an amendment of the eip effective february 3 , 2016 , such that awards may be granted under the plan until january 31 , 2022 .share-based compensation cost is recorded net of estimated forfeitures on a straight-line basis for awards with service conditions only , and on a graded-vesting basis for awards with service , performance and market conditions .the company 2019s estimated forfeiture rate is based on an evaluation of historical , actual and trended forfeiture data .for fiscal 2016 , 2015 and 2014 , the company recorded share-based compensation cost related to the eip of $ 211 million , $ 184 million and $ 172 million , respectively , in personnel on its consolidated statements of operations .the related tax benefits were $ 62 million , $ 54 million and $ 51 million for fiscal 2016 , 2015 and 2014 , respectively .the amount of capitalized share-based compensation cost was immaterial during fiscal 2016 , 2015 and all per share amounts and number of shares outstanding presented below reflect the four-for-one stock split that was effected in the second quarter of fiscal 2015 .see note 14 2014stockholders 2019 equity .options options issued under the eip expire 10 years from the date of grant and primarily vest ratably over 3 years from the date of grant , subject to earlier vesting in full under certain conditions .during fiscal 2016 , 2015 and 2014 , the fair value of each stock option was estimated on the date of grant using a black-scholes option pricing model with the following weighted-average assumptions: .
[['', '2016', '2015', '2014'], ['expected term ( in years ) ( 1 )', '4.35', '4.55', '4.80'], ['risk-free rate of return ( 2 )', '1.5% ( 1.5 % )', '1.5% ( 1.5 % )', '1.3% ( 1.3 % )'], ['expected volatility ( 3 )', '21.7% ( 21.7 % )', '22.0% ( 22.0 % )', '25.2% ( 25.2 % )'], ['expected dividend yield ( 4 )', '0.7% ( 0.7 % )', '0.8% ( 0.8 % )', '0.8% ( 0.8 % )'], ['fair value per option granted', '$ 15.01', '$ 12.04', '$ 11.03']]
( 1 ) this assumption is based on the company 2019s historical option exercises and those of a set of peer companies that management believes is generally comparable to visa .the company 2019s data is weighted based on the number of years between the measurement date and visa 2019s initial public offering as a percentage of the options 2019 contractual term .the relative weighting placed on visa 2019s data and peer data in fiscal 2016 was approximately 77% ( 77 % ) and 23% ( 23 % ) , respectively , 67% ( 67 % ) and 33% ( 33 % ) in fiscal 2015 , respectively , and 58% ( 58 % ) and 42% ( 42 % ) in fiscal 2014 , respectively. .
|
what was the ratio of the share based compensation to the related tax benefits in 2016
|
3.4
|
{
"answer": "3.4",
"decimal": 3.4,
"type": "float"
}
| |
the facility is considered 201cdebt 201d for purposes of a support agreement between american water and awcc , which serves as a functional equivalent of a guarantee by american water of awcc 2019s payment obligations under the credit facility .also , the company acquired an additional revolving line of credit as part of its keystone acquisition .the total commitment under this credit facility was $ 16 million of which $ 2 million was outstanding as of december 31 , 2015 .the following table summarizes information regarding the company 2019s aggregate credit facility commitments , letter of credit sub-limits and available funds under those revolving credit facilities , as well as outstanding amounts of commercial paper and outstanding borrowings under the respective facilities as of december 31 , 2015 and 2014 : credit facility commitment available credit facility capacity letter of credit sublimit available letter of credit capacity outstanding commercial ( net of discount ) credit line borrowing ( in millions ) december 31 , 2015 .....$ 1266 $ 1182 $ 150 $ 68 $ 626 $ 2 december 31 , 2014 .....$ 1250 $ 1212 $ 150 $ 112 $ 450 $ 2014 the weighted-average interest rate on awcc short-term borrowings for the years ended december 31 , 2015 and 2014 was approximately 0.49% ( 0.49 % ) and 0.31% ( 0.31 % ) , respectively .interest accrues on the keystone revolving line of credit daily at a rate per annum equal to 2.75% ( 2.75 % ) above the greater of the one month or one day libor .capital structure the following table indicates the percentage of our capitalization represented by the components of our capital structure as of december 31: .
[['', '2015', '2014', '2013'], ["total common stockholders' equity", '43.5% ( 43.5 % )', '45.2% ( 45.2 % )', '44.6% ( 44.6 % )'], ['long-term debt and redeemable preferred stock at redemption value', '50.6% ( 50.6 % )', '50.1% ( 50.1 % )', '49.3% ( 49.3 % )'], ['short-term debt and current portion of long-term debt', '5.9% ( 5.9 % )', '4.7% ( 4.7 % )', '6.1% ( 6.1 % )'], ['total', '100% ( 100 % )', '100% ( 100 % )', '100% ( 100 % )']]
the changes in the capital structure between periods were mainly attributable to changes in outstanding commercial paper balances .debt covenants our debt agreements contain financial and non-financial covenants .to the extent that we are not in compliance with these covenants such an event may create an event of default under the debt agreement and we or our subsidiaries may be restricted in our ability to pay dividends , issue new debt or access our revolving credit facility .for two of our smaller operating companies , we have informed our counterparties that we will provide only unaudited financial information at the subsidiary level , which resulted in technical non-compliance with certain of their reporting requirements under debt agreements with respect to $ 8 million of outstanding debt .we do not believe this event will materially impact us .our long-term debt indentures contain a number of covenants that , among other things , limit the company from issuing debt secured by the company 2019s assets , subject to certain exceptions .our failure to comply with any of these covenants could accelerate repayment obligations .certain long-term notes and the revolving credit facility require us to maintain a ratio of consolidated debt to consolidated capitalization ( as defined in the relevant documents ) of not more than 0.70 to 1.00 .on december 31 , 2015 , our ratio was 0.56 to 1.00 and therefore we were in compliance with the covenant. .
|
what was the ratio of the commercial ( net of discount ) credit line borrowing from 2015 to 2014
|
1.39
|
{
"answer": "1.39",
"decimal": 1.39,
"type": "float"
}
|
for every dollar of commercial ( net of discount ) credit line borrowing in 2014 , there was 1.39 in 2015
|
morgan stanley notes to consolidated financial statements 2014 ( continued ) lending commitments .primary lending commitments are those that are originated by the company whereas secondary lending commitments are purchased from third parties in the market .the commitments include lending commitments that are made to investment grade and non-investment grade companies in connection with corporate lending and other business activities .commitments for secured lending transactions .secured lending commitments are extended by the company to companies and are secured by real estate or other physical assets of the borrower .loans made under these arrangements typically are at variable rates and generally provide for over-collateralization based upon the creditworthiness of the borrower .forward starting reverse repurchase agreements .the company has entered into forward starting securities purchased under agreements to resell ( agreements that have a trade date at or prior to december 31 , 2013 and settle subsequent to period-end ) that are primarily secured by collateral from u.s .government agency securities and other sovereign government obligations .commercial and residential mortgage-related commitments .the company enters into forward purchase contracts involving residential mortgage loans , residential mortgage lending commitments to individuals and residential home equity lines of credit .in addition , the company enters into commitments to originate commercial and residential mortgage loans .underwriting commitments .the company provides underwriting commitments in connection with its capital raising sources to a diverse group of corporate and other institutional clients .other lending commitments .other commitments generally include commercial lending commitments to small businesses and commitments related to securities-based lending activities in connection with the company 2019s wealth management business segment .the company sponsors several non-consolidated investment funds for third-party investors where the company typically acts as general partner of , and investment advisor to , these funds and typically commits to invest a minority of the capital of such funds , with subscribing third-party investors contributing the majority .the company 2019s employees , including its senior officers , as well as the company 2019s directors , may participate on the same terms and conditions as other investors in certain of these funds that the company forms primarily for client investment , except that the company may waive or lower applicable fees and charges for its employees .the company has contractual capital commitments , guarantees , lending facilities and counterparty arrangements with respect to these investment funds .premises and equipment .the company has non-cancelable operating leases covering premises and equipment ( excluding commodities operating leases , shown separately ) .at december 31 , 2013 , future minimum rental commitments under such leases ( net of subleases , principally on office rentals ) were as follows ( dollars in millions ) : year ended operating premises leases .
[['year ended', 'operating premises leases'], ['2014', '$ 672'], ['2015', '656'], ['2016', '621'], ['2017', '554'], ['2018', '481'], ['thereafter', '2712']]
.
|
what was the increase in lease liability between 2014 and 2015?
|
16
|
{
"answer": "16",
"decimal": 16,
"type": "float"
}
| |
as of may 26 , 2019 , we expect to pay approximately $ 2.0 million of unrecognized tax benefit liabilities and accrued interest within the next 12 months .we are not able to reasonably estimate the timing of future cash flows beyond 12 months due to uncertainties in the timing of tax audit outcomes .the remaining amount of our unrecognized tax liability was classified in other liabilities .we report accrued interest and penalties related to unrecognized tax benefit liabilities in income tax expense .for fiscal 2019 , we recognized $ 0.5 million of tax-related net interest and penalties , and had $ 26.0 million of accrued interest and penalties as of may 26 , 2019 .for fiscal 2018 , we recognized a net benefit of $ 3.1 million of tax-related net interest and penalties , and had $ 27.3 million of accrued interest and penalties as of may 27 , 2018 .note 15 .leases , other commitments , and contingencies our leases are generally for warehouse space and equipment .rent expense under all operating leases from continuing operations was $ 184.9 million in fiscal 2019 , $ 189.4 million in fiscal 2018 , and $ 188.1 million in fiscal 2017 .some operating leases require payment of property taxes , insurance , and maintenance costs in addition to the rent payments .contingent and escalation rent in excess of minimum rent payments and sublease income netted in rent expense were insignificant .noncancelable future lease commitments are : in millions operating leases capital leases .
[['in millions', 'operating leases', 'capital leases'], ['fiscal 2020', '$ 120.0', '$ 0.2'], ['fiscal 2021', '101.7', '0.1'], ['fiscal 2022', '85.0', '-'], ['fiscal 2023', '63.8', '-'], ['fiscal 2024', '49.1', '-'], ['after fiscal 2024', '63.0', '-'], ['total noncancelable future lease commitments', '$ 482.6', '$ 0.3'], ['less : interest', '', '-'], ['present value of obligations under capitalleases', '', '$ 0.3']]
depreciation on capital leases is recorded as depreciation expense in our results of operations .as of may 26 , 2019 , we have issued guarantees and comfort letters of $ 681.6 million for the debt and other obligations of consolidated subsidiaries , and guarantees and comfort letters of $ 133.9 million for the debt and other obligations of non-consolidated affiliates , mainly cpw .in addition , off-balance sheet arrangements are generally limited to the future payments under non-cancelable operating leases , which totaled $ 482.6 million as of may 26 , 2019 .note 16 .business segment and geographic information we operate in the packaged foods industry .our operating segments are as follows : north america retail ; convenience stores & foodservice ; europe & australia ; asia & latin america ; and pet .our north america retail operating segment reflects business with a wide variety of grocery stores , mass merchandisers , membership stores , natural food chains , drug , dollar and discount chains , and e-commerce grocery providers .our product categories in this business segment are ready-to-eat cereals , refrigerated yogurt , soup , meal kits , refrigerated and frozen dough products , dessert and baking mixes , frozen pizza and pizza snacks , grain , fruit and savory snacks , and a wide variety of organic products including refrigerated yogurt , nutrition bars , meal kits , salty snacks , ready-to-eat cereal , and grain snacks. .
|
what is the total rent expense for all operating leases from continuing operations from 2017 to 2019?
|
562.4
|
{
"answer": "562.4",
"decimal": 562.4,
"type": "float"
}
| |
equity compensation plan information the following table presents the equity securities available for issuance under our equity compensation plans as of december 31 , 2014 .equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights ( 2 ) number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1955024 $ 36.06 4078093 equity compensation plans not approved by security holders ( 3 ) 2014 2014 2014 .
[['plan category', 'number of securities to be issued upon exercise of outstanding options warrants and rights ( 1 ) ( a ) ( b )', 'weighted-average exercise price of outstanding optionswarrants and rights ( 2 )', 'number of securities remaining available for future issuance under equity compensation plans ( excluding securitiesreflected in column ( a ) ) ( c )'], ['equity compensation plans approved by security holders', '1955024', '$ 36.06', '4078093'], ['equity compensation plans not approved by security holders ( 3 )', '2014', '2014', '2014'], ['total', '1955024', '$ 36.06', '4078093']]
( 1 ) includes grants made under the huntington ingalls industries , inc .2012 long-term incentive stock plan ( the "2012 plan" ) , which was approved by our stockholders on may 2 , 2012 , and the huntington ingalls industries , inc .2011 long-term incentive stock plan ( the "2011 plan" ) , which was approved by the sole stockholder of hii prior to its spin-off from northrop grumman corporation .of these shares , 644321 were subject to stock options , 539742 were subject to outstanding restricted performance stock rights , and 63022 were stock rights granted under the 2011 plan .in addition , this number includes 33571 stock rights , 11046 restricted stock rights and 663322 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement .( 2 ) this is the weighted average exercise price of the 644321 outstanding stock options only .( 3 ) there are no awards made under plans not approved by security holders .item 13 .certain relationships and related transactions , and director independence information as to certain relationships and related transactions and director independence will be incorporated herein by reference to the proxy statement for our 2015 annual meeting of stockholders to be filed within 120 days after the end of the company 2019s fiscal year .item 14 .principal accountant fees and services information as to principal accountant fees and services will be incorporated herein by reference to the proxy statement for our 2015 annual meeting of stockholders to be filed within 120 days after the end of the company 2019s fiscal year .this proof is printed at 96% ( 96 % ) of original size this line represents final trim and will not print .
|
what portion of equity compensation plan is to be issued upon exercise of outstanding options warrants and rights?
|
32.4%
|
{
"answer": "32.4%",
"decimal": 0.324,
"type": "percentage"
}
| |
operating expenses as a percentage of total revenue .
[['', '2006', '2005', '2004'], ['marketing and sales', '27% ( 27 % )', '28% ( 28 % )', '28% ( 28 % )'], ['research and development', '31% ( 31 % )', '29% ( 29 % )', '31% ( 31 % )'], ['general and administrative', '10% ( 10 % )', '10% ( 10 % )', '7% ( 7 % )']]
operating expense summary 2006 compared to 2005 overall operating expenses increased $ 122.5 million in 2006 , as compared to 2005 , primarily due to : 2022 an increase of $ 58.4 million in stock-based compensation expense due to our adoption of sfas no .123r ; and 2022 an increase of $ 49.2 million in salary , benefits and other employee-related costs , primarily due to an increased number of employees and increases in bonus and commission costs , in part due to our acquisition of verisity ltd. , or verisity , in the second quarter of 2005 .2005 compared to 2004 operating expenses increased $ 97.4 million in 2005 , as compared to 2004 , primarily due to : 2022 an increase of $ 63.3 million in employee salary and benefit costs , primarily due to our acquisition of verisity and increased bonus and commission costs ; 2022 an increase of $ 9.9 million in stock-based compensation expense due to grants of restricted stock and the assumption of options in our acquisitions ; 2022 an increase of $ 8.6 million in losses associated with the sale of installment contract receivables ; and 2022 an increase of $ 7.1 million in costs related to the retirement of our executive chairman and former president and chief executive officer in 2005 ; partially offset by 2022 our restructuring activities , as discussed below .marketing and sales 2006 compared to 2005 marketing and sales expenses increased $ 39.4 million in 2006 , as compared to 2005 , primarily due to : 2022 an increase of $ 14.8 million in stock-based compensation expense due to our adoption of sfas no .123r ; 2022 an increase of $ 18.2 million in employee salary , commissions , benefits and other employee-related costs due to increased hiring of sales and technical personnel , and higher commissions earned resulting from an increase in 2006 sales performance ; and 2022 an increase of $ 7.8 million in marketing programs and customer-focused conferences due to our new marketing initiatives and increased travel to visit our customers .2005 compared to 2004 marketing and sales expenses increased $ 33.1 million in 2005 , as compared to 2004 , primarily due to : 2022 an increase of $ 29.4 million in employee salary , commission and benefit costs due to increased hiring of sales and technical personnel and higher employee bonuses and commissions ; and 2022 an increase of $ 1.6 million in stock-based compensation expense due to grants of restricted stock and the assumption of options in our acquisitions ; partially offset by 2022 a decrease of $ 1.9 million in marketing program costs. .
|
what was the change in research and development expenses as a percentage of total revenue from 2005 to 2006?
|
2%
|
{
"answer": "2%",
"decimal": 0.02,
"type": "percentage"
}
| |
united parcel service , inc .and subsidiaries notes to consolidated financial statements capital lease obligations we have certain property , plant and equipment subject to capital leases .some of the obligations associated with these capital leases have been legally defeased .the recorded value of our property , plant and equipment subject to capital leases is as follows as of december 31 ( in millions ) : .
[['', '2015', '2014'], ['vehicles', '$ 74', '$ 86'], ['aircraft', '2289', '2289'], ['buildings', '207', '197'], ['accumulated amortization', '-849 ( 849 )', '-781 ( 781 )'], ['property plant and equipment subject to capital leases', '$ 1721', '$ 1791']]
these capital lease obligations have principal payments due at various dates from 2016 through 3005 .facility notes and bonds we have entered into agreements with certain municipalities to finance the construction of , or improvements to , facilities that support our u.s .domestic package and supply chain & freight operations in the united states .these facilities are located around airport properties in louisville , kentucky ; dallas , texas ; and philadelphia , pennsylvania .under these arrangements , we enter into a lease or loan agreement that covers the debt service obligations on the bonds issued by the municipalities , as follows : 2022 bonds with a principal balance of $ 149 million issued by the louisville regional airport authority associated with our worldport facility in louisville , kentucky .the bonds , which are due in january 2029 , bear interest at a variable rate , and the average interest rates for 2015 and 2014 were 0.03% ( 0.03 % ) and 0.05% ( 0.05 % ) , respectively .2022 bonds with a principal balance of $ 42 million and due in november 2036 issued by the louisville regional airport authority associated with our air freight facility in louisville , kentucky .the bonds bear interest at a variable rate , and the average interest rates for 2015 and 2014 were 0.02% ( 0.02 % ) and 0.05% ( 0.05 % ) , respectively .2022 bonds with a principal balance of $ 29 million issued by the dallas / fort worth international airport facility improvement corporation associated with our dallas , texas airport facilities .the bonds are due in may 2032 and bear interest at a variable rate , however the variable cash flows on the obligation have been swapped to a fixed 5.11% ( 5.11 % ) .2022 bonds with a principal balance of $ 100 million issued by the delaware county , pennsylvania industrial development authority associated with our philadelphia , pennsylvania airport facilities .the bonds , which were due in december 2015 , had a variable interest rate , and the average interest rates for 2015 and 2014 were 0.02% ( 0.02 % ) and 0.04% ( 0.04 % ) , respectively .as of december 2015 , these $ 100 million bonds were repaid in full .2022 in september 2015 , we entered into an agreement with the delaware county , pennsylvania industrial development authority , associated with our philadelphia , pennsylvania airport facilities , for bonds issued with a principal balance of $ 100 million .these bonds , which are due september 2045 , bear interest at a variable rate .the average interest rate for 2015 was 0.00% ( 0.00 % ) .pound sterling notes the pound sterling notes consist of two separate tranches , as follows : 2022 notes with a principal amount of a366 million accrue interest at a 5.50% ( 5.50 % ) fixed rate , and are due in february 2031 .these notes are not callable .2022 notes with a principal amount of a3455 million accrue interest at a 5.125% ( 5.125 % ) fixed rate , and are due in february 2050 .these notes are callable at our option at a redemption price equal to the greater of 100% ( 100 % ) of the principal amount and accrued interest , or the sum of the present values of the remaining scheduled payout of principal and interest thereon discounted to the date of redemption at a benchmark u.k .government bond yield plus 15 basis points and accrued interest. .
|
what is the difference in total property , plant and equipment subject to capital lease between 2014 and 2015?
|
-70
|
{
"answer": "-70",
"decimal": -70,
"type": "float"
}
| |
management 2019s discussion and analysis of financial condition and results of operations comcast corporation and subsidiaries28 comcast corporation and subsidiaries the exchangeable notes varies based upon the fair market value of the security to which it is indexed .the exchangeable notes are collateralized by our investments in cablevision , microsoft and vodafone , respectively .the comcast exchangeable notes are collateralized by our class a special common stock held in treasury .we have settled and intend in the future to settle all of the comcast exchangeable notes using cash .during 2004 and 2003 , we settled an aggregate of $ 847 million face amount and $ 638 million face amount , respectively , of our obligations relating to our notes exchangeable into comcast stock by delivering cash to the counterparty upon maturity of the instruments , and the equity collar agreements related to the underlying shares expired or were settled .during 2004 and 2003 , we settled $ 2.359 billion face amount and $ 1.213 billion face amount , respectively , of our obligations relating to our exchangeable notes by delivering the underlying shares of common stock to the counterparty upon maturity of the investments .as of december 31 , 2004 , our debt includes an aggregate of $ 1.699 billion of exchangeable notes , including $ 1.645 billion within current portion of long-term debt .as of december 31 , 2004 , the securities we hold collateralizing the exchangeable notes were sufficient to substantially satisfy the debt obligations associated with the outstanding exchangeable notes .stock repurchases .during 2004 , under our board-authorized , $ 2 billion share repurchase program , we repurchased 46.9 million shares of our class a special common stock for $ 1.328 billion .we expect such repurchases to continue from time to time in the open market or in private transactions , subject to market conditions .refer to notes 8 and 10 to our consolidated financial statements for a discussion of our financing activities .investing activities net cash used in investing activities from continuing operations was $ 4.512 billion for the year ended december 31 , 2004 , and consists primarily of capital expenditures of $ 3.660 billion , additions to intangible and other noncurrent assets of $ 628 million and the acquisition of techtv for approximately $ 300 million .capital expenditures .our most significant recurring investing activity has been and is expected to continue to be capital expendi- tures .the following table illustrates the capital expenditures we incurred in our cable segment during 2004 and expect to incur in 2005 ( dollars in millions ) : .
[['', '2004', '2005'], ['deployment of cable modems digital converters and new service offerings', '$ 2106', '$ 2300'], ['upgrading of cable systems', '902', '200'], ['recurring capital projects', '614', '500'], ['total cable segment capital expenditures', '$ 3622', '$ 3000']]
the amount of our capital expenditures for 2005 and for subsequent years will depend on numerous factors , some of which are beyond our control , including competition , changes in technology and the timing and rate of deployment of new services .additions to intangibles .additions to intangibles during 2004 primarily relate to our investment in a $ 250 million long-term strategic license agreement with gemstar , multiple dwelling unit contracts of approximately $ 133 million and other licenses and software intangibles of approximately $ 168 million .investments .proceeds from sales , settlements and restructurings of investments totaled $ 228 million during 2004 , related to the sales of our non-strategic investments , including our 20% ( 20 % ) interest in dhc ventures , llc ( discovery health channel ) for approximately $ 149 million .we consider investments that we determine to be non-strategic , highly-valued , or both to be a source of liquidity .we consider our investment in $ 1.5 billion in time warner common-equivalent preferred stock to be an anticipated source of liquidity .we do not have any significant contractual funding commitments with respect to any of our investments .refer to notes 6 and 7 to our consolidated financial statements for a discussion of our investments and our intangible assets , respectively .off-balance sheet arrangements we do not have any significant off-balance sheet arrangements that are reasonably likely to have a current or future effect on our financial condition , results of operations , liquidity , capital expenditures or capital resources. .
|
what percentage of total cable segment capital expenditures in 2004 where due to upgrading of cable systems?
|
25%
|
{
"answer": "25%",
"decimal": 0.25,
"type": "percentage"
}
| |
shareholder return performance presentation the graph presented below compares the cumulative total shareholder return on state street's common stock to the cumulative total return of the s&p 500 index , the s&p financial index and the kbw bank index over a five- year period .the cumulative total shareholder return assumes the investment of $ 100 in state street common stock and in each index on december 31 , 2008 at the closing price on the last trading day of 2008 , and also assumes reinvestment of common stock dividends .the s&p financial index is a publicly available measure of 81 of the standard & poor's 500 companies , representing 17 diversified financial services companies , 22 insurance companies , 19 real estate companies and 23 banking companies .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 24 leading national money center and regional banks and thrifts. .
[['', '2008', '2009', '2010', '2011', '2012', '2013'], ['state street corporation', '$ 100', '$ 111', '$ 118', '$ 105', '$ 125', '$ 198'], ['s&p 500 index', '100', '126', '146', '149', '172', '228'], ['s&p financial index', '100', '117', '132', '109', '141', '191'], ['kbw bank index', '100', '98', '121', '93', '122', '168']]
.
|
what percent increase would shareholders receive between 2008 and 2013?
|
98%
|
{
"answer": "98%",
"decimal": 0.98,
"type": "percentage"
}
| |
december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
[['', 'december 312011', 'december 312012', 'december 312013', 'december 312014', 'december 312015', 'december 312016'], ['disca', '$ 100.00', '$ 154.94', '$ 220.70', '$ 168.17', '$ 130.24', '$ 133.81'], ['discb', '$ 100.00', '$ 150.40', '$ 217.35', '$ 175.04', '$ 127.80', '$ 137.83'], ['disck', '$ 100.00', '$ 155.17', '$ 222.44', '$ 178.89', '$ 133.79', '$ 142.07'], ['s&p 500', '$ 100.00', '$ 113.41', '$ 146.98', '$ 163.72', '$ 162.53', '$ 178.02'], ['peer group', '$ 100.00', '$ 134.98', '$ 220.77', '$ 253.19', '$ 243.93', '$ 271.11']]
equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2017 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference .item 6 .selected financial data .the table set forth below presents our selected financial information for each of the past five years ( in millions , except per share amounts ) .the selected statement of operations information for each of the three years ended december 31 , 2016 and the selected balance sheet information as of december 31 , 2016 and 2015 have been derived from and should be read in conjunction with the information in item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations , 201d the audited consolidated financial statements included in item 8 , 201cfinancial statements and supplementary data , 201d and other financial information included elsewhere in this annual report on form 10-k .the selected statement of operations information for each of the two years ended december 31 , 2013 and 2012 and the selected balance sheet information as of december 31 , 2014 , 2013 and 2012 have been derived from financial statements not included in this annual report on form 10-k .2016 2015 2014 2013 2012 selected statement of operations information : revenues $ 6497 $ 6394 $ 6265 $ 5535 $ 4487 operating income 2058 1985 2061 1975 1859 income from continuing operations , net of taxes 1218 1048 1137 1077 956 loss from discontinued operations , net of taxes 2014 2014 2014 2014 ( 11 ) net income 1218 1048 1137 1077 945 net income available to discovery communications , inc .1194 1034 1139 1075 943 basic earnings per share available to discovery communications , inc .series a , b and c common stockholders : continuing operations $ 1.97 $ 1.59 $ 1.67 $ 1.50 $ 1.27 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.97 1.59 1.67 1.50 1.25 diluted earnings per share available to discovery communications , inc .series a , b and c common stockholders : continuing operations $ 1.96 $ 1.58 $ 1.66 $ 1.49 $ 1.26 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.96 1.58 1.66 1.49 1.24 weighted average shares outstanding : basic 401 432 454 484 498 diluted 610 656 687 722 759 selected balance sheet information : cash and cash equivalents $ 300 $ 390 $ 367 $ 408 $ 1201 total assets 15758 15864 15970 14934 12892 long-term debt : current portion 82 119 1107 17 31 long-term portion 7841 7616 6002 6437 5174 total liabilities 10348 10172 9619 8701 6599 redeemable noncontrolling interests 243 241 747 36 2014 equity attributable to discovery communications , inc .5167 5451 5602 6196 6291 total equity $ 5167 $ 5451 $ 5604 $ 6197 $ 6293 2022 income per share amounts may not sum since each is calculated independently .2022 on september 30 , 2016 , the company recorded an other-than-temporary impairment of $ 62 million related to its investment in lionsgate .on december 2 , 2016 , the company acquired a 39% ( 39 % ) minority interest in group nine media , a newly formed media holding company , in exchange for contributions of $ 100 million and the company's digital network businesses seeker and sourcefed , resulting in a gain of $ 50 million upon deconsolidation of the businesses .( see note 4 to the accompanying consolidated financial statements. ) .
|
what was the percentage cumulative total shareholder return on disca for the five year period ended december 31 , 2016?
|
33.81%
|
{
"answer": "33.81%",
"decimal": 0.3381,
"type": "percentage"
}
| |
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 is the average volatility for 2017?
|
21.14%
|
{
"answer": "21.14%",
"decimal": 0.2114,
"type": "percentage"
}
|
it is the sum of both percentages of 2017 divided by two .
|
goodwill is assigned to one or more reporting segments on the date of acquisition .we evaluate goodwill for impairment by comparing the fair value of each of our reporting segments to its carrying value , including the associated goodwill .to determine the fair values , we use the market approach based on comparable publicly traded companies in similar lines of businesses and the income approach based on estimated discounted future cash flows .our cash flow assumptions consider historical and forecasted revenue , operating costs and other relevant factors .we amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists .we continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets , including our intangible assets may not be recoverable .when such events or changes in circumstances occur , we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows .if the future undiscounted cash flows are less than the carrying amount of these assets , we recognize an impairment loss based on any excess of the carrying amount over the fair value of the assets .we did not recognize any intangible asset impairment charges in fiscal 2012 , 2011 or 2010 .our intangible assets are amortized over their estimated useful lives of 1 to 13 years .amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed .the weighted average useful lives of our intangible assets was as follows : weighted average useful life ( years ) .
[['', 'weighted averageuseful life ( years )'], ['purchased technology', '5'], ['customer contracts and relationships', '10'], ['trademarks', '7'], ['acquired rights to use technology', '9'], ['localization', '1'], ['other intangibles', '3']]
software development costs capitalization of software development costs for software to be sold , leased , or otherwise marketed begins upon the establishment of technological feasibility , which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate .amortization begins once the software is ready for its intended use , generally based on the pattern in which the economic benefits will be consumed .to date , software development costs incurred between completion of a working prototype and general availability of the related product have not been material .internal use software we capitalize costs associated with customized internal-use software systems that have reached the application development stage .such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related expenses for employees , who are directly associated with the development of the applications .capitalization of such costs begins when the preliminary project stage is complete and ceases at the point in which the project is substantially complete and is ready for its intended purpose .income taxes we use the asset and liability method of accounting for income taxes .under this method , income tax expense is recognized for the amount of taxes payable or refundable for the current year .in addition , deferred tax assets and liabilities are recognized for expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities , and for operating losses and tax credit carryforwards .we record a valuation allowance to reduce deferred tax assets to an amount for which realization is more likely than not .table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .
|
what is the yearly amortization rate related to customer contracts and relationships?
|
10%
|
{
"answer": "10%",
"decimal": 0.1,
"type": "percentage"
}
| |
notes to consolidated financial statements derivatives with credit-related contingent features certain of the firm 2019s derivatives have been transacted under bilateral agreements with counterparties who may require the firm to post collateral or terminate the transactions based on changes in the firm 2019s credit ratings .the firm assesses the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies .a downgrade by any one rating agency , depending on the agency 2019s relative ratings of the firm at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies .the table below presents the aggregate fair value of net derivative liabilities under such agreements ( excluding application of collateral posted to reduce these liabilities ) , the related aggregate fair value of the assets posted as collateral , and the additional collateral or termination payments that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in the firm 2019s credit ratings. .
[['$ in millions', 'as of december 2014', 'as of december 2013'], ['net derivative liabilities under bilateral agreements', '$ 35764', '$ 22176'], ['collateral posted', '30824', '18178'], ['additional collateral or termination payments for a one-notch downgrade', '1072', '911'], ['additional collateral or termination payments for a two-notch downgrade', '2815', '2989']]
additional collateral or termination payments for a one-notch downgrade 1072 911 additional collateral or termination payments for a two-notch downgrade 2815 2989 credit derivatives the firm enters into a broad array of credit derivatives in locations around the world to facilitate client transactions and to manage the credit risk associated with market- making and investing and lending activities .credit derivatives are actively managed based on the firm 2019s net risk position .credit derivatives are individually negotiated contracts and can have various settlement and payment conventions .credit events include failure to pay , bankruptcy , acceleration of indebtedness , restructuring , repudiation and dissolution of the reference entity .credit default swaps .single-name credit default swaps protect the buyer against the loss of principal on one or more bonds , loans or mortgages ( reference obligations ) in the event the issuer ( reference entity ) of the reference obligations suffers a credit event .the buyer of protection pays an initial or periodic premium to the seller and receives protection for the period of the contract .if there is no credit event , as defined in the contract , the seller of protection makes no payments to the buyer of protection .however , if a credit event occurs , the seller of protection is required to make a payment to the buyer of protection , which is calculated in accordance with the terms of the contract .credit indices , baskets and tranches .credit derivatives may reference a basket of single-name credit default swaps or a broad-based index .if a credit event occurs in one of the underlying reference obligations , the protection seller pays the protection buyer .the payment is typically a pro-rata portion of the transaction 2019s total notional amount based on the underlying defaulted reference obligation .in certain transactions , the credit risk of a basket or index is separated into various portions ( tranches ) , each having different levels of subordination .the most junior tranches cover initial defaults and once losses exceed the notional amount of these junior tranches , any excess loss is covered by the next most senior tranche in the capital structure .total return swaps .a total return swap transfers the risks relating to economic performance of a reference obligation from the protection buyer to the protection seller .typically , the protection buyer receives from the protection seller a floating rate of interest and protection against any reduction in fair value of the reference obligation , and in return the protection seller receives the cash flows associated with the reference obligation , plus any increase in the fair value of the reference obligation .132 goldman sachs 2014 annual report .
|
in millions for 2014 and 2013 , what was total amount of net derivative liabilities under bilateral agreements?\\n
|
57940
|
{
"answer": "57940",
"decimal": 57940,
"type": "float"
}
| |
j.p .morgan chase & co ./ 2003 annual report 33 corporate credit allocation in 2003 , tss was assigned a corporate credit allocation of pre- tax earnings and the associated capital related to certain credit exposures managed within ib 2019s credit portfolio on behalf of clients shared with tss .prior periods have been revised to reflect this allocation .for 2003 , the impact to tss of this change increased pre-tax operating results by $ 36 million and average allocated capital by $ 712 million , and it decreased sva by $ 65 million .pre-tax operating results were $ 46 million lower than in 2002 , reflecting lower loan volumes and higher related expenses , slightly offset by a decrease in credit costs .business outlook tss revenue in 2004 is expected to benefit from improved global equity markets and from two recent acquisitions : the november 2003 acquisition of the bank one corporate trust portfolio , and the january 2004 acquisition of citigroup 2019s electronic funds services business .tss also expects higher costs as it integrates these acquisitions and continues strategic investments to sup- port business expansion .by client segment tss dimensions of 2003 revenue diversification by business revenue by geographic region investor services 36% ( 36 % ) other 1% ( 1 % ) institutional trust services 23% ( 23 % ) treasury services 40% ( 40 % ) large corporations 21% ( 21 % ) middle market 18% ( 18 % ) banks 11% ( 11 % ) nonbank financial institutions 44% ( 44 % ) public sector/governments 6% ( 6 % ) europe , middle east & africa 27% ( 27 % ) asia/pacific 9% ( 9 % ) the americas 64% ( 64 % ) ( a ) includes the elimination of revenue related to shared activities with chase middle market in the amount of $ 347 million .year ended december 31 , operating revenue .
[['year ended december 31 , ( in millions )', 'year ended december 31 , 2003', 'year ended december 31 , 2002', 'change'], ['treasury services', '$ 1927', '$ 1818', '6% ( 6 % )'], ['investor services', '1449', '1513', '-4 ( 4 )'], ['institutional trust services ( a )', '928', '864', '7'], ['other ( a ) ( b )', '-312 ( 312 )', '-303 ( 303 )', '-3 ( 3 )'], ['total treasury & securities services', '$ 3992', '$ 3892', '3% ( 3 % )']]
( a ) includes a portion of the $ 41 million gain on sale of a nonstrategic business in 2003 : $ 1 million in institutional trust services and $ 40 million in other .( b ) includes the elimination of revenues related to shared activities with chase middle market , and a $ 50 million gain on sale of a non-u.s .securities clearing firm in 2002. .
|
in 2003 what was the ratio of the total other income to the gain on sale of a non-u.s securities
|
-6.24
|
{
"answer": "-6.24",
"decimal": -6.24,
"type": "float"
}
| |
shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the sec , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing .the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index , and the dow jones transportation average .the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2009 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock. .
[['', '12/31/2009', '12/31/2010', '12/31/2011', '12/31/2012', '12/31/2013', '12/31/2014'], ['united parcel service inc .', '$ 100.00', '$ 130.29', '$ 135.35', '$ 140.54', '$ 205.95', '$ 223.79'], ['standard & poor 2019s 500 index', '$ 100.00', '$ 115.06', '$ 117.48', '$ 136.26', '$ 180.38', '$ 205.05'], ['dow jones transportation average', '$ 100.00', '$ 126.74', '$ 126.75', '$ 136.24', '$ 192.61', '$ 240.91']]
.
|
what was the percentage cumulative total shareowners 2019 returns for united parcel service inc . for the five years ended 12/31/2014?
|
123.79%
|
{
"answer": "123.79%",
"decimal": 1.2379,
"type": "percentage"
}
| |
ventas , inc .notes to consolidated financial statements 2014 ( continued ) applicable indenture .the issuers may also redeem the 2015 senior notes , in whole at any time or in part from time to time , on or after june 1 , 2010 at varying redemption prices set forth in the applicable indenture , plus accrued and unpaid interest thereon to the redemption date .in addition , at any time prior to june 1 , 2008 , the issuers may redeem up to 35% ( 35 % ) of the aggregate principal amount of either or both of the 2010 senior notes and 2015 senior notes with the net cash proceeds from certain equity offerings at redemption prices equal to 106.750% ( 106.750 % ) and 107.125% ( 107.125 % ) , respectively , of the principal amount thereof , plus , in each case , accrued and unpaid interest thereon to the redemption date .the issuers may redeem the 2014 senior notes , in whole at any time or in part from time to time , ( i ) prior to october 15 , 2009 at a redemption price equal to 100% ( 100 % ) of the principal amount thereof , plus a make-whole premium as described in the applicable indenture and ( ii ) on or after october 15 , 2009 at varying redemption prices set forth in the applicable indenture , plus , in each case , accrued and unpaid interest thereon to the redemption date .the issuers may redeem the 2009 senior notes and the 2012 senior notes , in whole at any time or in part from time to time , at a redemption price equal to 100% ( 100 % ) of the principal amount thereof , plus accrued and unpaid interest thereon to the redemption date and a make-whole premium as described in the applicable indenture .if we experience certain kinds of changes of control , the issuers must make an offer to repurchase the senior notes , in whole or in part , at a purchase price in cash equal to 101% ( 101 % ) of the principal amount of the senior notes , plus any accrued and unpaid interest to the date of purchase ; provided , however , that in the event moody 2019s and s&p have confirmed their ratings at ba3 or higher and bb- or higher on the senior notes and certain other conditions are met , this repurchase obligation will not apply .mortgages at december 31 , 2007 , we had outstanding 121 mortgage loans totaling $ 1.57 billion that are collateralized by the underlying assets of the properties .outstanding principal balances on these loans ranged from $ 0.4 million to $ 59.4 million as of december 31 , 2007 .the loans generally bear interest at fixed rates ranging from 5.4% ( 5.4 % ) to 8.5% ( 8.5 % ) per annum , except for 15 loans with outstanding principal balances ranging from $ 0.4 million to $ 32.0 million , which bear interest at the lender 2019s variable rates ranging from 3.4% ( 3.4 % ) to 7.3% ( 7.3 % ) per annum as of december 31 , 2007 .at december 31 , 2007 , the weighted average annual rate on fixed rate debt was 6.5% ( 6.5 % ) and the weighted average annual rate on the variable rate debt was 6.1% ( 6.1 % ) .the loans had a weighted average maturity of 7.0 years as of december 31 , 2007 .sunrise 2019s portion of total debt was $ 157.1 million as of december 31 , scheduled maturities of borrowing arrangements and other provisions as of december 31 , 2007 , our indebtedness had the following maturities ( in thousands ) : .
[['2008', '$ 193101'], ['2009', '605762'], ['2010', '282138'], ['2011', '303191'], ['2012', '527221'], ['thereafter', '1436263'], ['total maturities', '3347676'], ['unamortized fair value adjustment', '19669'], ['unamortized commission fees and discounts', '-6846 ( 6846 )'], ['senior notes payable and other debt', '$ 3360499']]
.
|
what percentage of total maturities expire after 2012?
|
42.9%
|
{
"answer": "42.9%",
"decimal": 0.429,
"type": "percentage"
}
| |
cash and a commitment to fund the capital needs of the business until such time as its cumulative funding is equal to funding that we have provided from inception through the effective date of the transaction .the transaction created a new joint venture which does business as comercia global payments brazil .as a result of the transaction , we deconsolidated global payments brazil , and we apply the equity method of accounting to our retained interest in comercia global payments brazil .we recorded a gain on the transaction of $ 2.1 million which is included in interest and other income in the consolidated statement of income for the fiscal year ended may 31 , 2014 .the results of the brazil operation from inception until the restructuring into a joint venture on september 30 , 2013 were not material to our consolidated results of operations , and the assets and liabilities that we derecognized were not material to our consolidated balance sheet .american express portfolio on october 24 , 2013 , we acquired a merchant portfolio in the czech republic from american express limited for $ 1.9 million .the acquired assets have been classified as customer-related intangible assets and contract-based intangible assets with estimated amortization periods of 10 years .paypros on march 4 , 2014 , we completed the acquisition of 100% ( 100 % ) of the outstanding stock of payment processing , inc .( 201cpaypros 201d ) for $ 420.0 million in cash plus $ 7.7 million in cash for working capital , subject to adjustment based on a final determination of working capital .we funded the acquisition with a combination of cash on hand and proceeds from our new term loan .paypros , based in california , is a provider of fully-integrated payment solutions for small-to-medium sized merchants in the united states .paypros delivers its products and services through a network of technology-based enterprise software partners to vertical markets that are complementary to the markets served by accelerated payment technologies ( 201capt 201d ) , which we acquired in october 2012 .we acquired paypros to expand our direct distribution capabilities in the united states and to further enhance our existing integrated solutions offerings .this acquisition was recorded as a business combination , and the purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values .due to the timing of this transaction , the allocation of the purchase price is preliminary pending final valuation of intangible assets and deferred income taxes as well as resolution of the working capital settlement discussed above .the purchase price of paypros was determined by analyzing the historical and prospective financial statements .acquisition costs associated with this purchase were not material .the following table summarizes the preliminary purchase price allocation ( in thousands ) : .
[['goodwill', '$ 271577'], ['customer-related intangible assets', '147500'], ['contract-based intangible assets', '31000'], ['acquired technology', '10700'], ['fixed assets', '1680'], ['other assets', '4230'], ['total assets acquired', '466687'], ['deferred income taxes', '-38949 ( 38949 )'], ['net assets acquired', '$ 427738']]
the preliminary purchase price allocation resulted in goodwill , included in the north america merchant services segment , of $ 271.6 million .such goodwill is attributable primarily to synergies with the services offered and markets served by paypros .the goodwill associated with the acquisition is not deductible for tax purposes .the customer-related intangible assets and the contract-based intangible assets have an estimated amortization period of 13 years .the acquired technology has an estimated amortization period of 7 years. .
|
what will be the yearly amortization expense related to acquired technology , ( in thousands ) ?
|
1528.6
|
{
"answer": "1528.6",
"decimal": 1528.6,
"type": "float"
}
| |
the pnc financial services group , inc .2013 form 10-k 29 part ii item 5 2013 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities ( a ) ( 1 ) our common stock is listed on the new york stock exchange and is traded under the symbol 201cpnc . 201d at the close of business on february 15 , 2019 , there were 53986 common shareholders of record .holders of pnc common stock are entitled to receive dividends when declared by our board of directors out of funds legally available for this purpose .our board of directors may not pay or set apart dividends on the common stock until dividends for all past dividend periods on any series of outstanding preferred stock and certain outstanding capital securities issued by the parent company have been paid or declared and set apart for payment .the board of directors presently intends to continue the policy of paying quarterly cash dividends .the amount of any future dividends will depend on economic and market conditions , our financial condition and operating results , and other factors , including contractual restrictions and applicable government regulations and policies ( such as those relating to the ability of bank and non-bank subsidiaries to pay dividends to the parent company and regulatory capital limitations ) .the amount of our dividend is also currently subject to the results of the supervisory assessment of capital adequacy and capital planning processes undertaken by the federal reserve and our primary bank regulators as part of the comprehensive capital analysis and review ( ccar ) process as described in the supervision and regulation section in item 1 of this report .the federal reserve has the power to prohibit us from paying dividends without its approval .for further information concerning dividend restrictions and other factors that could limit our ability to pay dividends , as well as restrictions on loans , dividends or advances from bank subsidiaries to the parent company , see the supervision and regulation section in item 1 , item 1a risk factors , the liquidity and capital management portion of the risk management section in item 7 , and note 10 borrowed funds , note 15 equity and note 18 regulatory matters in the notes to consolidated financial statements in item 8 of this report , which we include here by reference .we include here by reference the information regarding our compensation plans under which pnc equity securities are authorized for issuance as of december 31 , 2018 in the table ( with introductory paragraph and notes ) in item 12 of this report .our stock transfer agent and registrar is : computershare trust company , n.a .250 royall street canton , ma 02021 800-982-7652 www.computershare.com/pnc registered shareholders may contact computershare regarding dividends and other shareholder services .we include here by reference the information that appears under the common stock performance graph caption at the end of this item 5 .( a ) ( 2 ) none .( b ) not applicable .( c ) details of our repurchases of pnc common stock during the fourth quarter of 2018 are included in the following table : in thousands , except per share data 2018 period total shares purchased ( a ) average price paid per share total shares purchased as part of publicly announced programs ( b ) maximum number of shares that may yet be purchased under the programs ( b ) .
[['2018 period', 'total shares purchased ( a )', 'average price paid per share', 'total shares purchased as part of publicly announced programs ( b )', 'maximum number of shares that may yet be purchased under the programs ( b )'], ['october 1 2013 31', '1204', '$ 128.43', '1189', '25663'], ['november 1 2013 30', '1491', '$ 133.79', '1491', '24172'], ['december 1 2013 31', '3458', '$ 119.43', '3458', '20714'], ['total', '6153', '$ 124.67', '', '']]
( a ) includes pnc common stock purchased in connection with our various employee benefit plans generally related to forfeitures of unvested restricted stock awards and shares used to cover employee payroll tax withholding requirements .note 11 employee benefit plans and note 12 stock based compensation plans in the notes to consolidated financial statements in item 8 of this report include additional information regarding our employee benefit and equity compensation plans that use pnc common stock .( b ) on march 11 , 2015 , we announced that our board of directors approved a stock repurchase program authorization in the amount of 100 million shares of pnc common stock , effective april 1 , 2015 .repurchases are made in open market or privately negotiated transactions and the timing and exact amount of common stock repurchases will depend on a number of factors including , among others , market and general economic conditions , regulatory capital considerations , alternative uses of capital , the potential impact on our credit ratings , and contractual and regulatory limitations , including the results of the supervisory assessment of capital adequacy and capital planning processes undertaken by the federal reserve as part of the ccar process .in june 2018 , we announced share repurchase programs of up to $ 2.0 billion for the four quarter period beginning with the third quarter of 2018 , including repurchases of up to $ 300 million related to stock issuances under employee benefit plans , in accordance with pnc's 2018 capital plan .in november 2018 , we announced an increase to these previously announced programs in the amount of up to $ 900 million in additional common share repurchases .the aggregate repurchase price of shares repurchased during the fourth quarter of 2018 was $ .8 billion .see the liquidity and capital management portion of the risk management section in item 7 of this report for more information on the authorized share repurchase programs for the period july 1 , 2018 through june 30 , 2019 .http://www.computershare.com/pnc .
|
what total percentage of total shares were purchased in november and december?
|
80.43%
|
{
"answer": "80.43%",
"decimal": 0.8043,
"type": "percentage"
}
| |
packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2006 4 .stock-based compensation ( continued ) same period was $ 1988000 lower , than if it had continued to account for share-based compensation under apb no .25 .basic and diluted earnings per share for the year ended december 31 , 2006 were both $ 0.02 lower than if the company had continued to account for share-based compensation under apb no .25 .prior to the adoption of sfas no .123 ( r ) , the company presented all tax benefits of deductions resulting from share-based payment arrangements as operating cash flows in the statements of cash flows .sfas no .123 ( r ) requires the cash flows resulting from the tax benefits from tax deductions in excess of the compensation cost recognized for those share awards ( excess tax benefits ) to be classified as financing cash flows .the excess tax benefit of $ 2885000 classified as a financing cash inflow for the year ended december 31 , 2006 would have been classified as an operating cash inflow if the company had not adopted sfas no .123 ( r ) .as a result of adopting sfas no 123 ( r ) , unearned compensation previously recorded in stockholders 2019 equity was reclassified against additional paid in capital on january 1 , 2006 .all stock-based compensation expense not recognized as of december 31 , 2005 and compensation expense related to post 2005 grants of stock options and amortization of restricted stock will be recorded directly to additional paid in capital .compensation expense for stock options and restricted stock recognized in the statements of income for the year ended december 31 , 2006 , 2005 and 2004 was as follows : year ended december 31 , ( in thousands ) 2006 2005 2004 .
[['( in thousands )', 'year ended december 31 , 2006', 'year ended december 31 , 2005', 'year ended december 31 , 2004'], ['stock options', '$ -3273 ( 3273 )', '$ 2014', '$ 2014'], ['restricted stock', '-2789 ( 2789 )', '-1677 ( 1677 )', '-663 ( 663 )'], ['impact on income before income taxes', '-6062 ( 6062 )', '-1677 ( 1677 )', '-663 ( 663 )'], ['income tax benefit', '2382', '661', '260'], ['impact on net income', '$ -3680 ( 3680 )', '$ -1016 ( 1016 )', '$ -403 ( 403 )']]
.
|
what was the difference in thousands in impact on net income due to compensation expense for stock options and restricted stock between 2004 and 2005?
|
613
|
{
"answer": "613",
"decimal": 613,
"type": "float"
}
| |
the following table summarizes the weighted-average number of ordinary shares outstanding for basic and diluted earnings per share calculations. .
[['in millions', '2016', '2015', '2014'], ['weighted-average number of basic shares', '95.8', '95.9', '96.1'], ['shares issuable under incentive stock plans', '1.1', '1.0', '1.1'], ['weighted-average number of diluted shares', '96.9', '96.9', '97.2']]
at december 31 , 2016 , 0.6 million stock options were excluded from the computation of weighted average diluted shares outstanding because the effect of including these shares would have been anti-dilutive .note 21 2013 commitments and contingencies the company is involved in various litigations , claims and administrative proceedings , including those related to environmental and product warranty matters .amounts recorded for identified contingent liabilities are estimates , which are reviewed periodically and adjusted to reflect additional information when it becomes available .subject to the uncertainties inherent in estimating future costs for contingent liabilities , except as expressly set forth in this note , management believes that any liability which may result from these legal matters would not have a material adverse effect on the financial condition , results of operations , liquidity or cash flows of the company .environmental matters the company is dedicated to an environmental program to reduce the utilization and generation of hazardous materials during the manufacturing process and to remediate identified environmental concerns .as to the latter , the company is currently engaged in site investigations and remediation activities to address environmental cleanup from past operations at current and former production facilities .the company regularly evaluates its remediation programs and considers alternative remediation methods that are in addition to , or in replacement of , those currently utilized by the company based upon enhanced technology and regulatory changes .changes to the company's remediation programs may result in increased expenses and increased environmental reserves .the company is sometimes a party to environmental lawsuits and claims and has received notices of potential violations of environmental laws and regulations from the u.s .environmental protection agency and similar state authorities .it has also been identified as a potentially responsible party ( "prp" ) for cleanup costs associated with off-site waste disposal at federal superfund and state remediation sites .for all such sites , there are other prps and , in most instances , the company 2019s involvement is minimal .in estimating its liability , the company has assumed it will not bear the entire cost of remediation of any site to the exclusion of other prps who may be jointly and severally liable .the ability of other prps to participate has been taken into account , based on our understanding of the parties 2019 financial condition and probable contributions on a per site basis .additional lawsuits and claims involving environmental matters are likely to arise from time to time in the future .the company incurred $ 23.3 million , $ 4.4 million , and $ 2.9 million of expenses during the years ended december 31 , 2016 , 2015 and 2014 , respectively , for environmental remediation at sites presently or formerly owned or leased by the company .in the fourth-quarter of 2016 , with the collaboration and approval of state regulators , the company launched a proactive , alternative approach to remediate two sites in the united states .this approach will allow the company to more aggressively address environmental conditions at these sites and reduce the impact of potential changes in regulatory requirements .as a result , the company recorded a $ 15 million charge for environmental remediation in the fourth quarter .environmental remediation costs are recorded in costs of goods sold within the consolidated statements of comprehensive income .as of december 31 , 2016 and 2015 , the company has recorded reserves for environmental matters of $ 30.6 million and $ 15.2 million .the total reserve at december 31 , 2016 and 2015 included $ 9.6 million and $ 2.8 million related to remediation of sites previously disposed by the company .environmental reserves are classified as accrued expenses and other current liabilities or other noncurrent liabilities based on their expected term .the company's total current environmental reserve at december 31 , 2016 and 2015 was $ 6.1 million and $ 3.7 million and the remainder is classified as noncurrent .given the evolving nature of environmental laws , regulations and technology , the ultimate cost of future compliance is uncertain .warranty liability standard product warranty accruals are recorded at the time of sale and are estimated based upon product warranty terms and historical experience .the company assesses the adequacy of its liabilities and will make adjustments as necessary based on known or anticipated warranty claims , or as new information becomes available. .
|
considering the year 2016 , what is the percentage of stock options that were excluded from the computation due to its anti-dilutive effect?
|
0.62%
|
{
"answer": "0.62%",
"decimal": 0.0062,
"type": "percentage"
}
|
it is the number of stocks that were excluded divided by the total number of weighted average diluted shares , then turned into a percentage .
|
part ii price range our common stock commenced trading on the nasdaq national market under the symbol 201cmktx 201d on november 5 , 2004 .prior to that date , there was no public market for our common stock .the high and low bid information for our common stock , as reported by nasdaq , was as follows : on march 8 , 2006 , the last reported closing price of our common stock on the nasdaq national market was $ 12.59 .holders there were approximately 114 holders of record of our common stock as of march 8 , 2006 .dividend policy we have not declared or paid any cash dividends on our capital stock since our inception .we intend to retain future earnings to finance the operation and expansion of our business and do not anticipate paying any cash dividends in the foreseeable future .in the event we decide to declare dividends on our common stock in the future , such declaration will be subject to the discretion of our board of directors .our board may take into account such matters as general business conditions , our financial results , capital requirements , contractual , legal , and regulatory restrictions on the payment of dividends by us to our stockholders or by our subsidiaries to us and any such other factors as our board may deem relevant .use of proceeds on november 4 , 2004 , the registration statement relating to our initial public offering ( no .333-112718 ) was declared effective .we received net proceeds from the sale of the shares of our common stock in the offering of $ 53.9 million , at an initial public offering price of $ 11.00 per share , after deducting underwriting discounts and commissions and estimated offering expenses .except for salaries , and reimbursements for travel expenses and other out-of -pocket costs incurred in the ordinary course of business , none of the proceeds from the offering have been paid by us , directly or indirectly , to any of our directors or officers or any of their associates , or to any persons owning ten percent or more of our outstanding stock or to any of our affiliates .we have invested the proceeds from the offering in cash and cash equivalents and short-term marketable securities .item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities .
[['', 'high', 'low'], ['november 5 2004 to december 31 2004', '$ 24.41', '$ 12.75'], ['january 1 2005 to march 31 2005', '$ 15.95', '$ 9.64'], ['april 1 2005 to june 30 2005', '$ 13.87', '$ 9.83'], ['july 1 2005 to september 30 2005', '$ 14.09', '$ 9.99'], ['october 1 2005 to december 31 2005', '$ 13.14', '$ 10.64']]
.
|
what was the highest share price in the period october 1 2005 to december 31 2005?
|
13.14
|
{
"answer": "13.14",
"decimal": 13.14,
"type": "float"
}
| |
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 change in the percent of the weighted average common shares outstanding for diluted computations from 2014 to 2015
|
-2.4%
|
{
"answer": "-2.4%",
"decimal": -0.024,
"type": "percentage"
}
| |
( 5 ) we occupy approximately 350000 square feet of the one north end building .( 6 ) this property is owned by board of trade investment company ( botic ) .kcbt maintains a 51% ( 51 % ) controlling interest in botic .we also lease other office space around the world and have also partnered with major global telecommunications carriers in connection with our telecommunications hubs whereby we place data cabinets within the carriers 2019 existing secured data centers .we believe our facilities are adequate for our current operations and that additional space can be obtained if needed .item 3 .legal proceedings see 201clegal and regulatory matters 201d in note 14 .contingencies to the consolidated financial statements beginning on page 91 for cme group 2019s legal proceedings disclosure which is incorporated herein by reference .item 4 .mine safety disclosures not applicable .part ii item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities class a common stock our class a common stock is currently listed on nasdaq under the ticker symbol 201ccme . 201d as of february 13 , 2013 , there were approximately 3106 holders of record of our class a common stock .in may 2012 , the company 2019s board of directors declared a five-for-one split of its class a common stock effected by way of a stock dividend to its class a and class b shareholders .the stock split was effective july 20 , 2012 for all shareholders of record on july 10 , 2012 .as a result of the stock split , all amounts related to shares and per share amounts have been retroactively restated .the following table sets forth the high and low sales prices per share of our class a common stock on a quarterly basis , as reported on nasdaq. .
[['2012 first quarter', 'high $ 59.73', 'low $ 45.20', '2011 first quarter', 'high $ 63.40', 'low $ 56.06'], ['second quarter', '58.24', '50.70', 'second quarter', '62.15', '52.45'], ['third quarter', '59.35', '49.83', 'third quarter', '59.80', '47.43'], ['fourth quarter', '57.89', '50.12', 'fourth quarter', '59.73', '45.20']]
class b common stock our class b common stock is not listed on a national securities exchange or traded in an organized over- the-counter market .each class of our class b common stock is associated with a membership in a specific division of our cme exchange .cme 2019s rules provide exchange members with trading rights and the ability to use or lease these trading rights .each share of our class b common stock can be transferred only in connection with the transfer of the associated trading rights. .
|
what is the maximum change in share price during the first quarter of 2012?
|
14.53
|
{
"answer": "14.53",
"decimal": 14.53,
"type": "float"
}
| |
strategy our mission is to achieve sustainable revenue and earnings growth through providing superior solutions to our customers .our strategy to achieve this has been and will continue to be built on the following pillars : 2022 expand client relationships 2014 the overall market we serve continues to gravitate beyond single-product purchases to multi-solution partnerships .as the market dynamics shift , we expect our clients to rely more on our multidimensional service offerings .our leveraged solutions and processing expertise can drive meaningful value and cost savings to our clients through more efficient operating processes , improved service quality and speed for our clients' customers .2022 buy , build or partner to add solutions to cross-sell 2014 we continue to invest in growth through internal product development , as well as through product-focused or market-centric acquisitions that complement and extend our existing capabilities and provide us with additional solutions to cross-sell .we also partner from time to time with other entities to provide comprehensive offerings to our customers .by investing in solution innovation and integration , we continue to expand our value proposition to clients .2022 support our clients through market transformation 2014 the changing market dynamics are transforming the way our clients operate , which is driving incremental demand for our leveraged solutions , consulting expertise , and services around intellectual property .our depth of services capabilities enables us to become involved earlier in the planning and design process to assist our clients as they manage through these changes .2022 continually improve to drive margin expansion 2014 we strive to optimize our performance through investments in infrastructure enhancements and other measures that are designed to drive organic revenue growth and margin expansion .2022 build global diversification 2014 we continue to deploy resources in emerging global markets where we expect to achieve meaningful scale .revenues by segment the table below summarizes the revenues by our reporting segments ( in millions ) : .
[['', '2012', '2011', '2010'], ['fsg', '$ 2246.4', '$ 2076.8', '$ 1890.8'], ['psg', '2380.6', '2372.1', '2354.2'], ['isg', '1180.5', '1177.6', '917.0'], ['corporate & other', '0.1', '-0.9 ( 0.9 )', '-16.4 ( 16.4 )'], ['total consolidated revenues', '$ 5807.6', '$ 5625.6', '$ 5145.6']]
financial solutions group the focus of fsg is to provide the most comprehensive software and services for the core processing , customer channel , treasury services , cash management , wealth management and capital market operations of our financial institution customers in north america .we service the core and related ancillary processing needs of north american banks , credit unions , automotive financial companies , commercial lenders , and independent community and savings institutions .fis offers a broad selection of in-house and outsourced solutions to banking customers that span the range of asset sizes .fsg customers are typically committed under multi-year contracts that provide a stable , recurring revenue base and opportunities for cross-selling additional financial and payments offerings .we employ several business models to provide our solutions to our customers .we typically deliver the highest value to our customers when we combine our software applications and deliver them in one of several types of outsourcing arrangements , such as an application service provider , facilities management processing or an application management arrangement .we are also able to deliver individual applications through a software licensing arrangement .based upon our expertise gained through the foregoing arrangements , some clients also retain us to manage their it operations without using any of our proprietary software .our solutions in this segment include: .
|
what percent of total consolidate revenue was the psg segment in 2012?
|
41%
|
{
"answer": "41%",
"decimal": 0.41,
"type": "percentage"
}
| |
entergy corporation and subsidiaries notes to financial statements entergy new orleans securitization bonds - hurricane isaac in may 2015 the city council issued a financing order authorizing the issuance of securitization bonds to recover entergy new orleans 2019s hurricane isaac storm restoration costs of $ 31.8 million , including carrying costs , the costs of funding and replenishing the storm recovery reserve in the amount of $ 63.9 million , and approximately $ 3 million of up-front financing costs associated with the securitization .in july 2015 , entergy new orleans storm recovery funding i , l.l.c. , a company wholly owned and consolidated by entergy new orleans , issued $ 98.7 million of storm cost recovery bonds .the bonds have a coupon of 2.67% ( 2.67 % ) and an expected maturity date of june 2024 .although the principal amount is not due until the date given above , entergy new orleans storm recovery funding expects to make principal payments on the bonds over the next five years in the amounts of $ 11.4 million for 2016 , $ 10.6 million for 2017 , $ 11 million for 2018 , $ 11.2 million for 2019 , and $ 11.6 million for 2020 .with the proceeds , entergy new orleans storm recovery funding purchased from entergy new orleans the storm recovery property , which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds .the storm recovery property is reflected as a regulatory asset on the consolidated entergy new orleans balance sheet .the creditors of entergy new orleans do not have recourse to the assets or revenues of entergy new orleans storm recovery funding , including the storm recovery property , and the creditors of entergy new orleans storm recovery funding do not have recourse to the assets or revenues of entergy new orleans .entergy new orleans has no payment obligations to entergy new orleans storm recovery funding except to remit storm recovery charge collections .entergy texas securitization bonds - hurricane rita in april 2007 the puct issued a financing order authorizing the issuance of securitization bonds to recover $ 353 million of entergy texas 2019s hurricane rita reconstruction costs and up to $ 6 million of transaction costs , offset by $ 32 million of related deferred income tax benefits .in june 2007 , entergy gulf states reconstruction funding i , llc , a company that is now wholly-owned and consolidated by entergy texas , issued $ 329.5 million of senior secured transition bonds ( securitization bonds ) as follows : amount ( in thousands ) .
[['', 'amount ( in thousands )'], ['senior secured transition bonds series a:', ''], ['tranche a-1 ( 5.51% ( 5.51 % ) ) due october 2013', '$ 93500'], ['tranche a-2 ( 5.79% ( 5.79 % ) ) due october 2018', '121600'], ['tranche a-3 ( 5.93% ( 5.93 % ) ) due june 2022', '114400'], ['total senior secured transition bonds', '$ 329500']]
although the principal amount of each tranche is not due until the dates given above , entergy gulf states reconstruction funding expects to make principal payments on the bonds over the next five years in the amounts of $ 26 million for 2016 , $ 27.6 million for 2017 , $ 29.2 million for 2018 , $ 30.9 million for 2019 , and $ 32.8 million for 2020 .all of the scheduled principal payments for 2016 are for tranche a-2 , $ 23.6 million of the scheduled principal payments for 2017 are for tranche a-2 and $ 4 million of the scheduled principal payments for 2017 are for tranche a-3 .all of the scheduled principal payments for 2018-2020 are for tranche a-3 .with the proceeds , entergy gulf states reconstruction funding purchased from entergy texas the transition property , which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds .the transition property is reflected as a regulatory asset on the consolidated entergy texas balance sheet .the creditors of entergy texas do not have recourse to the assets or revenues of entergy gulf states reconstruction funding , including the transition property , and the creditors of entergy gulf states reconstruction funding do not have recourse to the assets or revenues of entergy texas .entergy texas has no payment obligations to entergy gulf states reconstruction funding except to remit transition charge collections. .
|
what is the principal payment in 2017 as a percentage of the total senior secured transition bonds?
|
8.38%
|
{
"answer": "8.38%",
"decimal": 0.08380000000000001,
"type": "percentage"
}
| |
mondavi produces , markets and sells premium , super-premium and fine california wines under the woodbridge by robert mondavi , robert mondavi private selection and robert mondavi winery brand names .woodbridge and robert mondavi private selection are the leading premium and super-premium wine brands by volume , respectively , in the united states .the acquisition of robert mondavi supports the company 2019s strategy of strengthening the breadth of its portfolio across price segments to capitalize on the overall growth in the pre- mium , super-premium and fine wine categories .the company believes that the acquired robert mondavi brand names have strong brand recognition globally .the vast majority of robert mondavi 2019s sales are generated in the united states .the company intends to leverage the robert mondavi brands in the united states through its selling , marketing and distribution infrastructure .the company also intends to further expand distribution for the robert mondavi brands in europe through its constellation europe infrastructure .the company and robert mondavi have complementary busi- nesses that share a common growth orientation and operating philosophy .the robert mondavi acquisition provides the company with a greater presence in the fine wine sector within the united states and the ability to capitalize on the broader geographic distribution in strategic international markets .the robert mondavi acquisition supports the company 2019s strategy of growth and breadth across categories and geographies , and strengthens its competitive position in its core markets .in par- ticular , the company believes there are growth opportunities for premium , super-premium and fine wines in the united kingdom , united states and other wine markets .total consid- eration paid in cash to the robert mondavi shareholders was $ 1030.7 million .additionally , the company expects to incur direct acquisition costs of $ 11.2 million .the purchase price was financed with borrowings under the company 2019s 2004 credit agreement ( as defined in note 9 ) .in accordance with the pur- chase method of accounting , the acquired net assets are recorded at fair value at the date of acquisition .the purchase price was based primarily on the estimated future operating results of robert mondavi , including the factors described above , as well as an estimated benefit from operating cost synergies .the results of operations of the robert mondavi business are reported in the constellation wines segment and have been included in the consolidated statement of income since the acquisition date .the following table summarizes the estimated fair values of the assets acquired and liabilities assumed in the robert mondavi acquisition at the date of acquisition .the company is in the process of obtaining third-party valuations of certain assets and liabilities , and refining its restructuring plan which is under development and will be finalized during the company 2019s year ending february 28 , 2006 ( see note19 ) .accordingly , the allocation of the purchase price is subject to refinement .estimated fair values at december 22 , 2004 , are as follows : {in thousands} .
[['current assets', '$ 494788'], ['property plant and equipment', '452902'], ['other assets', '178823'], ['trademarks', '186000'], ['goodwill', '590459'], ['total assets acquired', '1902972'], ['current liabilities', '309051'], ['long-term liabilities', '552060'], ['total liabilities acquired', '861111'], ['net assets acquired', '$ 1041861']]
the trademarks are not subject to amortization .none of the goodwill is expected to be deductible for tax purposes .in connection with the robert mondavi acquisition and robert mondavi 2019s previously disclosed intention to sell certain of its winery properties and related assets , and other vineyard prop- erties , the company has classified certain assets as held for sale as of february 28 , 2005 .the company expects to sell these assets during the year ended february 28 , 2006 , for net pro- ceeds of approximately $ 150 million to $ 175 million .no gain or loss is expected to be recognized upon the sale of these assets .hardy acquisition 2013 on march 27 , 2003 , the company acquired control of brl hardy limited , now known as hardy wine company limited ( 201chardy 201d ) , and on april 9 , 2003 , the company completed its acquisition of all of hardy 2019s outstanding capital stock .as a result of the acquisition of hardy , the company also acquired the remaining 50% ( 50 % ) ownership of pacific wine partners llc ( 201cpwp 201d ) , the joint venture the company established with hardy in july 2001 .the acquisition of hardy along with the remaining interest in pwp is referred to together as the 201chardy acquisition . 201d through this acquisition , the company acquired one of australia 2019s largest wine producers with interests in winer- ies and vineyards in most of australia 2019s major wine regions as well as new zealand and the united states and hardy 2019s market- ing and sales operations in the united kingdom .total consideration paid in cash and class a common stock to the hardy shareholders was $ 1137.4 million .additionally , the company recorded direct acquisition costs of $ 17.2 million .the acquisition date for accounting purposes is march 27 , 2003 .the company has recorded a $ 1.6 million reduction in the purchase price to reflect imputed interest between the accounting acquisition date and the final payment of consider- ation .this charge is included as interest expense in the consolidated statement of income for the year ended february 29 , 2004 .the cash portion of the purchase price paid to the hardy shareholders and optionholders ( $ 1060.2 mil- lion ) was financed with $ 660.2 million of borrowings under the company 2019s then existing credit agreement and $ 400.0 million .
|
what portion of the net asset acquired is related to goodwill?
|
56.7%
|
{
"answer": "56.7%",
"decimal": 0.5670000000000001,
"type": "percentage"
}
| |
we include here by reference additional information relating to pnc common stock under the common stock prices/ dividends declared section in the statistical information ( unaudited ) section of item 8 of this report .we include here by reference the information regarding our compensation plans under which pnc equity securities are authorized for issuance as of december 31 , 2015 in the table ( with introductory paragraph and notes ) that appears under the caption 201capproval of 2016 incentive award plan 2013 item 3 201d in our proxy statement to be filed for the 2016 annual meeting of shareholders and is incorporated by reference herein and in item 12 of this report .our stock transfer agent and registrar is : computershare trust company , n.a .250 royall street canton , ma 02021 800-982-7652 registered shareholders may contact the above phone number regarding dividends and other shareholder services .we include here by reference the information that appears under the common stock performance graph caption at the end of this item 5 .( a ) ( 2 ) none .( b ) not applicable .( c ) details of our repurchases of pnc common stock during the fourth quarter of 2015 are included in the following table : in thousands , except per share data 2015 period total shares purchased ( a ) average paid per total shares purchased as part of publicly announced programs ( b ) maximum number of shares that may yet be purchased under the programs ( b ) .
[['2015 period', 'total sharespurchased ( a )', 'averagepricepaid pershare', 'total sharespurchased aspartofpubliclyannouncedprograms ( b )', 'maximumnumberofshares thatmay yet bepurchasedunder theprograms ( b )'], ['october 1 2013 31', '2528', '$ 89.24', '2506', '85413'], ['november 1 2013 30', '1923', '$ 94.06', '1923', '83490'], ['december 1 2013 31', '1379', '$ 95.20', '1379', '82111'], ['total', '5830', '$ 92.24', '', '']]
( a ) includes pnc common stock purchased in connection with our various employee benefit plans generally related to forfeitures of unvested restricted stock awards and shares used to cover employee payroll tax withholding requirements .note 12 employee benefit plans and note 13 stock based compensation plans in the notes to consolidated financial statements in item 8 of this report include additional information regarding our employee benefit and equity compensation plans that use pnc common stock .( b ) on march 11 , 2015 , we announced that our board of directors had approved the establishment of a new stock repurchase program authorization in the amount of 100 million shares of pnc common stock , effective april 1 , 2015 .repurchases are made in open market or privately negotiated transactions and the timing and exact amount of common stock repurchases will depend on a number of factors including , among others , market and general economic conditions , economic capital and regulatory capital considerations , alternative uses of capital , the potential impact on our credit ratings , and contractual and regulatory limitations , including the results of the supervisory assessment of capital adequacy and capital planning processes undertaken by the federal reserve as part of the ccar process .our 2015 capital plan , submitted as part of the ccar process and accepted by the federal reserve , included share repurchase programs of up to $ 2.875 billion for the five quarter period beginning with the second quarter of 2015 .this amount does not include share repurchases in connection with various employee benefit plans referenced in note ( a ) .in the fourth quarter of 2015 , in accordance with pnc 2019s 2015 capital plan and under the share repurchase authorization in effect during that period , we repurchased 5.8 million shares of common stock on the open market , with an average price of $ 92.26 per share and an aggregate repurchase price of $ .5 billion .30 the pnc financial services group , inc .2013 form 10-k .
|
total shares purchased as part of publicly announced programs in the fourth quarter of 2015 totaled what?
|
5808
|
{
"answer": "5808",
"decimal": 5808,
"type": "float"
}
| |
the principal components of eog's rollforward of valuation allowances for deferred tax assets were as follows ( in thousands ) : .
[['', '2016', '2015', '2014'], ['beginning balance', '$ 506127', '$ 463018', '$ 223599'], ['increase ( 1 )', '37221', '146602', '392729'], ['decrease ( 2 )', '-12667 ( 12667 )', '-4315 ( 4315 )', '-1424 ( 1424 )'], ['other ( 3 )', '-147460 ( 147460 )', '-99178 ( 99178 )', '-151886 ( 151886 )'], ['ending balance', '$ 383221', '$ 506127', '$ 463018']]
( 1 ) increase in valuation allowance related to the generation of tax net operating losses and other deferred tax assets .( 2 ) decrease in valuation allowance associated with adjustments to certain deferred tax assets and their related allowance .( 3 ) represents dispositions/revisions/foreign exchange rate variances and the effect of statutory income tax rate changes .the balance of unrecognized tax benefits at december 31 , 2016 , was $ 36 million , of which $ 2 million may potentially have an earnings impact .eog records interest and penalties related to unrecognized tax benefits to its income tax provision .currently , $ 2 million of interest has been recognized in the consolidated statements of income and comprehensive income .eog does not anticipate that the amount of the unrecognized tax benefits will significantly change during the next twelve months .eog and its subsidiaries file income tax returns and are subject to tax audits in the united states and various state , local and foreign jurisdictions .eog's earliest open tax years in its principal jurisdictions are as follows : united states federal ( 2011 ) , canada ( 2012 ) , united kingdom ( 2015 ) , trinidad ( 2010 ) and china ( 2008 ) .eog's foreign subsidiaries' undistributed earnings of approximately $ 2 billion at december 31 , 2016 , are no longer considered to be permanently reinvested outside the united states and , accordingly , eog has cumulatively recorded $ 280 million of united states federal , foreign and state deferred income taxes .eog changed its permanent reinvestment assertion in 2014 .in 2016 , eog's alternative minimum tax ( amt ) credits were reduced by $ 21 million mostly as a result of carry-back claims and certain elections .remaining amt credits of $ 758 million , resulting from amt paid in prior years , will be carried forward indefinitely until they are used to offset regular income taxes in future periods .the ability of eog to utilize these amt credit carryforwards to reduce federal income taxes may become subject to various limitations under the internal revenue code .such limitations may arise if certain ownership changes ( as defined for income tax purposes ) were to occur .as of december 31 , 2016 , eog had state income tax net operating losses ( nols ) being carried forward of approximately $ 1.6 billion , which , if unused , expire between 2017 and 2035 .during 2016 , eog's united kingdom subsidiary incurred a tax nol of approximately $ 38 million which , along with prior years' nols of $ 740 million , will be carried forward indefinitely .as described above , these nols have been evaluated for the likelihood of future utilization , and valuation allowances have been established for the portion of these deferred tax assets that do not meet the "more likely than not" threshold .7 .employee benefit plans stock-based compensation during 2016 , eog maintained various stock-based compensation plans as discussed below .eog recognizes compensation expense on grants of stock options , sars , restricted stock and restricted stock units , performance units and performance stock , and grants made under the eog resources , inc .employee stock purchase plan ( espp ) .stock-based compensation expense is calculated based upon the grant date estimated fair value of the awards , net of forfeitures , based upon eog's historical employee turnover rate .compensation expense is amortized over the shorter of the vesting period or the period from date of grant until the date the employee becomes eligible to retire without company approval. .
|
what is the lowest beginning balance observed during 2014-2016?
|
223599
|
{
"answer": "223599",
"decimal": 223599,
"type": "float"
}
|
it is the minimum value observed in this period .
|
table of contents notes to consolidated financial statements of american airlines , inc .american files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates .american 2019s 2004 through 2013 tax years are still subject to examination by the internal revenue service .various state and foreign jurisdiction tax years remain open to examination and american is under examination , in administrative appeals , or engaged in tax litigation in certain jurisdictions .american believes that the effect of additional assessments will be immaterial to its consolidated financial statements .american has an unrecognized tax benefit of approximately $ 5 million , which did not change during the twelve months ended december 31 , 2014 .changes in the unrecognized tax benefit have no impact on the effective tax rate due to the existence of the valuation allowance .accrued interest on tax positions is recorded as a component of interest expense but was not significant at december 31 , 2014 .the reconciliation of the beginning and ending amounts of unrecognized tax benefit are ( in millions ) : .
[['', '2014', '2013'], ['unrecognized tax benefit at january 1', '$ 5', '$ 5'], ['no activity', '2014', '2014'], ['unrecognized tax benefit at december 31', '$ 5', '$ 5']]
american estimates that the unrecognized tax benefit will be realized within the next twelve months .8 .risk management and financial instruments american 2019s economic prospects are heavily dependent upon two variables it cannot control : the health of the economy and the price of fuel .due to the discretionary nature of business and leisure travel spending , airline industry revenues are heavily influenced by the condition of the u.s .economy and economies in other regions of the world .unfavorable conditions in these broader economies have resulted , and may result in the future , in decreased passenger demand for air travel and changes in booking practices , both of which in turn have had , and may have in the future , a strong negative effect on american 2019s revenues .in addition , during challenging economic times , actions by our competitors to increase their revenues can have an adverse impact on american 2019s revenues .american 2019s operating results are materially impacted by changes in the availability , price volatility and cost of aircraft fuel , which represents one of the largest single cost items in american 2019s business .because of the amount of fuel needed to operate american 2019s business , even a relatively small increase in the price of fuel can have a material adverse aggregate effect on american 2019s operating results and liquidity .jet fuel market prices have fluctuated substantially over the past several years and prices continued to be volatile in 2014 .these factors could impact american 2019s results of operations , financial performance and liquidity .( a ) fuel price risk management during the second quarter of 2014 , american sold its portfolio of fuel hedging contracts that were scheduled to settle on or after june 30 , 2014 .american has not entered into any transactions to hedge its fuel consumption since december 9 , 2013 and , accordingly , as of december 31 , 2014 , american did not have any fuel hedging contracts outstanding .as such , and assuming american does not enter into any future transactions to hedge its fuel consumption , american will continue to be fully exposed to fluctuations in fuel prices .american 2019s current policy is not to enter into transactions to hedge its fuel consumption , although american reviews that policy from time to time based on market conditions and other factors. .
|
what was the unrecognized tax benefit at december 31 , 2013?
|
$ 5
|
{
"answer": "$ 5",
"decimal": 5,
"type": "money"
}
| |
anticipated or possible short-term cash needs , prevailing interest rates , our investment policy and alternative investment choices .a majority of our cash and cash equivalents balance is invested in money market mutual funds that invest only in u.s .treasury securities or u.s .government agency securities .our exposure to risk is minimal given the nature of the investments .our practice is to have our pension plan 100% ( 100 % ) funded at each year end on a projected benefit obligation basis , while also satisfying any minimum required contribution and obtaining the maximum tax deduction .based on our actuarial projections , we estimate that a $ 14.1 million contribution in 2011 will allow us to meet our funding goal .however , the amount of the actual contribution is contingent on the actual rate of return on our plan assets during 2011 and the december 31 , 2011 discount rate .net current deferred tax assets of $ 18.3 million and $ 23.8 million are included in other current assets at december 31 , 2010 and 2009 , respectively .total net current deferred tax assets include unrealized losses , stock- based compensation and accrued expenses .net long-term deferred tax liabilities were $ 7.8 billion and $ 7.6 billion at december 31 , 2010 and 2009 , respectively .net deferred tax liabilities are principally the result of purchase accounting for intangible assets in our various mergers including cbot holdings and nymex holdings .we have a long-term deferred tax asset of $ 145.7 million included within our domestic long-term deferred tax liability .this deferred tax asset is for an unrealized capital loss incurred in brazil related to our investment in bm&fbovespa .as of december 31 , 2010 , we do not believe that we currently meet the more-likely-than-not threshold that would allow us to fully realize the value of the unrealized capital loss .as a result , a partial valuation allowance of $ 64.4 million has been provided for the amount of the unrealized capital loss that exceeds potential capital gains that could be used to offset the capital loss in future periods .we also have a long-term deferred tax asset related to brazilian taxes of $ 125.3 million for an unrealized capital loss incurred in brazil related to our investment in bm&fbovespa .a full valuation allowance of $ 125.3 million has been provided because we do not believe that we currently meet the more-likely-than-not threshold that would allow us to realize the value of the unrealized capital loss in brazil in the future .valuation allowances of $ 49.4 million have also been provided for additional unrealized capital losses on various other investments .net long-term deferred tax assets also include a $ 19.3 million deferred tax asset for foreign net operating losses related to swapstream .our assessment at december 31 , 2010 was that we did not currently meet the more-likely- than-not threshold that would allow us to realize the value of acquired and accumulated foreign net operating losses in the future .as a result , the $ 19.3 million deferred tax assets arising from these net operating losses have been fully reserved .each clearing firm is required to deposit and maintain specified performance bond collateral .performance bond requirements are determined by parameters established by the risk management department of the clearing house and may fluctuate over time .we accept a variety of collateral to satisfy performance bond requirements .cash performance bonds and guaranty fund contributions are included in our consolidated balance sheets .clearing firm deposits , other than those retained in the form of cash , are not included in our consolidated balance sheets .the balances in cash performance bonds and guaranty fund contributions may fluctuate significantly over time .cash performance bonds and guaranty fund contributions consisted of the following at december 31: .
[['( in millions )', '2010', '2009'], ['cash performance bonds', '$ 3717.0', '$ 5834.6'], ['cash guaranty fund contributions', '231.8', '102.6'], ['cross-margin arrangements', '79.7', '10.6'], ['performance collateral for delivery', '10.0', '34.1'], ['total', '$ 4038.5', '$ 5981.9']]
.
|
what is the decrease of the cash perfomance bonds in the years of 2009 and 2010 in millions?
|
-2117.6
|
{
"answer": "-2117.6",
"decimal": -2117.6,
"type": "float"
}
|
its the difference between those two values , in millions .
|
item 2 : properties information concerning applied 2019s principal properties at october 28 , 2012 is set forth below : location type principal use square footage ownership santa clara , ca ...........office , plant & warehouse headquarters ; marketing ; manufacturing ; distribution ; research , development , engineering ; customer support 1512000 150000 leased austin , tx ...............office , plant & warehouse manufacturing 1719000 145000 leased rehovot , israel ...........office , plant & warehouse manufacturing ; research , development , engineering ; customer support 417000 leased alzenau , germany ........office , plant & warehouse manufacturing ; research , development and engineering 281000 leased kalispell , mt ............office , plant & warehouse manufacturing ; research , development , engineering ; customer support 252000 owned cheseaux , switzerland .....office , plant & warehouse manufacturing ; research , development , engineering ; customer support 165000 leased treviso , italy .............office , plant & warehouse manufacturing ; research , development , engineering ; customer support 150000 leased singapore ...............office , plant & warehouse manufacturing and customer support 392000 leased gloucester , ma ...........office , plant & warehouse manufacturing ; research , development , engineering ; customer support 319000 135000 leased tainan , taiwan ...........office , plant & warehouse manufacturing and customer support 320000 owned xi 2019an , china .............office , plant & warehouse research , development and engineering 567000 owned hsinchu , taiwan ..........office & warehouse customer support 93000 leased .
[['location', 'type', 'principal use', 'squarefootage', 'ownership'], ['santa clara ca', 'office plant & warehouse', 'headquarters ; marketing ; manufacturing ; distribution ; research developmentengineering ; customer support', '1512000150000', 'ownedleased'], ['austin tx', 'office plant & warehouse', 'manufacturing', '1719000145000', 'ownedleased'], ['rehovot israel', 'office plant & warehouse', 'manufacturing ; researchdevelopment engineering;customer support', '4170005000', 'ownedleased'], ['alzenau germany', 'office plant & warehouse', 'manufacturing ; researchdevelopment andengineering', '281000', 'leased'], ['kalispell mt', 'office plant & warehouse', 'manufacturing ; researchdevelopment engineering;customer support', '252000', 'owned'], ['cheseaux switzerland', 'office plant & warehouse', 'manufacturing ; researchdevelopment engineering;customer support', '165000', 'leased'], ['treviso italy', 'office plant & warehouse', 'manufacturing ; researchdevelopment engineering;customer support', '150000', 'leased'], ['singapore', 'office plant & warehouse', 'manufacturing andcustomer support', '3920005000', 'ownedleased'], ['gloucester ma', 'office plant & warehouse', 'manufacturing ; researchdevelopment engineering;customer support', '319000135000', 'ownedleased'], ['tainan taiwan', 'office plant & warehouse', 'manufacturing andcustomer support', '320000', 'owned'], ['xi 2019an china', 'office plant & warehouse', 'research development andengineering', '567000', 'owned'], ['hsinchu taiwan', 'office & warehouse', 'customer support', '930006000', 'ownedleased'], ['shanghai china', 'office & warehouse', 'customer support', '105000', 'leased']]
because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .products in the silicon systems group are manufactured in austin , texas ; gloucester , massachusetts ; rehovot , israel ; and singapore .remanufactured products in the applied global services segment are produced primarily in austin , texas .products in the display segment are manufactured in santa clara , california ; alzenau , germany ; and tainan , taiwan .products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany ; cheseaux , switzerland ; and treviso , italy .in addition to the above properties , applied leases office space for marketing , sales , engineering and customer support offices in 79 locations throughout the world : 17 in europe , 23 in japan , 16 in north america ( principally the united states ) , 7 in china , 7 in korea , 6 in southeast asia , and 3 in taiwan .applied also owns 112 acres of buildable land in texas that could accommodate approximately 1708000 square feet of additional building space , 12.5 acres in california that could accommodate approximately 400000 square feet of additional building space , 10.8 acres in massachusetts that could accommodate approximately 65000 square feet of additional building space and 10 acres in israel that could accommodate approximately 111000 square feet of additional building space .applied also leases 4 acres in italy that could accommodate approximately 180000 square feet of additional building space .applied considers the properties that it owns or leases as adequate to meet its current and future requirements .applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
|
what is the total square footage of office & warehouse customer support 93000 leased in taiwan?
|
930326000
|
{
"answer": "930326000",
"decimal": 930326000,
"type": "float"
}
| |
during 2014 , the company closed on thirteen acquisitions of various regulated water and wastewater systems for a total aggregate purchase price of $ 9 .assets acquired , principally plant , totaled $ 17 .liabilities assumed totaled $ 8 , including $ 5 of contributions in aid of construction and assumed debt of $ 2 .during 2013 , the company closed on fifteen acquisitions of various regulated water and wastewater systems for a total aggregate net purchase price of $ 24 .assets acquired , primarily utility plant , totaled $ 67 .liabilities assumed totaled $ 43 , including $ 26 of contributions in aid of construction and assumed debt of $ 13 .included in these totals was the company 2019s november 14 , 2013 acquisition of all of the capital stock of dale service corporation ( 201cdale 201d ) , a regulated wastewater utility company , for a total cash purchase price of $ 5 ( net of cash acquired of $ 7 ) , plus assumed liabilities .the dale acquisition was accounted for as a business combination ; accordingly , operating results from november 14 , 2013 were included in the company 2019s results of operations .the purchase price was allocated to the net tangible and intangible assets based upon their estimated fair values at the date of acquisition .the company 2019s regulatory practice was followed whereby property , plant and equipment ( rate base ) was considered fair value for business combination purposes .similarly , regulatory assets and liabilities acquired were recorded at book value and are subject to regulatory approval where applicable .the acquired debt was valued in a manner consistent with the company 2019s level 3 debt .see note 17 2014fair value of financial instruments .non-cash assets acquired in the dale acquisition , primarily utility plant , totaled $ 41 ; liabilities assumed totaled $ 36 , including debt assumed of $ 13 and contributions of $ 19 .divestitures in november 2014 , the company completed the sale of terratec , previously included in the market-based businesses .after post-close adjustments , net proceeds from the sale totaled $ 1 , and the company recorded a pretax loss on sale of $ 1 .the following table summarizes the operating results of discontinued operations presented in the accompanying consolidated statements of operations for the years ended december 31: .
[['', '2014', '2013'], ['operating revenues', '$ 13', '$ 23'], ['total operating expenses net', '19', '26'], ['loss from discontinued operations before income taxes', '-6 ( 6 )', '-3 ( 3 )'], ['provision ( benefit ) for income taxes', '1', '-1 ( 1 )'], ['loss from discontinued operations net of tax', '$ -7 ( 7 )', '$ -2 ( 2 )']]
the provision for income taxes of discontinued operations includes the recognition of tax expense related to the difference between the tax basis and book basis of assets upon the sales of terratec that resulted in taxable gains , since an election was made under section 338 ( h ) ( 10 ) of the internal revenue code to treat the sales as asset sales .there were no assets or liabilities of discontinued operations in the accompanying consolidated balance sheets as of december 31 , 2015 and 2014. .
|
by how much did operating revenue decrease from 2013 to 2014?
|
-43.5%
|
{
"answer": "-43.5%",
"decimal": -0.435,
"type": "percentage"
}
| |
the pnc financial services group , inc .2013 form 10-k 65 liquidity and capital management liquidity risk has two fundamental components .the first is potential loss assuming we were unable to meet our funding requirements at a reasonable cost .the second is the potential inability to operate our businesses because adequate contingent liquidity is not available .we manage liquidity risk at the consolidated company level ( bank , parent company and nonbank subsidiaries combined ) to help ensure that we can obtain cost-effective funding to meet current and future obligations under both normal 201cbusiness as usual 201d and stressful circumstances , and to help ensure that we maintain an appropriate level of contingent liquidity .management monitors liquidity through a series of early warning indicators that may indicate a potential market , or pnc-specific , liquidity stress event .in addition , management performs a set of liquidity stress tests over multiple time horizons with varying levels of severity and maintains a contingency funding plan to address a potential liquidity stress event .in the most severe liquidity stress simulation , we assume that our liquidity position is under pressure , while the market in general is under systemic pressure .the simulation considers , among other things , the impact of restricted access to both secured and unsecured external sources of funding , accelerated run-off of customer deposits , valuation pressure on assets and heavy demand to fund committed obligations .parent company liquidity guidelines are designed to help ensure that sufficient liquidity is available to meet our parent company obligations over the succeeding 24-month period .liquidity-related risk limits are established within our enterprise liquidity management policy and supporting policies .management committees , including the asset and liability committee , and the board of directors and its risk committee regularly review compliance with key established limits .in addition to these liquidity monitoring measures and tools described above , we also monitor our liquidity by reference to the liquidity coverage ratio ( lcr ) which is further described in the supervision and regulation section in item 1 of this report .pnc and pnc bank calculate the lcr on a daily basis and as of december 31 , 2018 , the lcr for pnc and pnc bank exceeded the fully phased-in requirement of 100% ( 100 % ) .we provide additional information regarding regulatory liquidity requirements and their potential impact on us in the supervision and regulation section of item 1 business and item 1a risk factors of this report .sources of liquidity our largest source of liquidity on a consolidated basis is the customer deposit base generated by our banking businesses .these deposits provide relatively stable and low-cost funding .total deposits increased to $ 267.8 billion at december 31 , 2018 from $ 265.1 billion at december 31 , 2017 driven by growth in interest-bearing deposits partially offset by a decrease in noninterest-bearing deposits .see the funding sources section of the consolidated balance sheet review in this report for additional information related to our deposits .additionally , certain assets determined by us to be liquid as well as unused borrowing capacity from a number of sources are also available to manage our liquidity position .at december 31 , 2018 , our liquid assets consisted of short-term investments ( federal funds sold , resale agreements , trading securities and interest-earning deposits with banks ) totaling $ 22.1 billion and securities available for sale totaling $ 63.4 billion .the level of liquid assets fluctuates over time based on many factors , including market conditions , loan and deposit growth and balance sheet management activities .our liquid assets included $ 2.7 billion of securities available for sale and trading securities pledged as collateral to secure public and trust deposits , repurchase agreements and for other purposes .in addition , $ 4.9 billion of securities held to maturity were also pledged as collateral for these purposes .we also obtain liquidity through various forms of funding , including long-term debt ( senior notes , subordinated debt and fhlb borrowings ) and short-term borrowings ( securities sold under repurchase agreements , commercial paper and other short-term borrowings ) .see note 10 borrowed funds and the funding sources section of the consolidated balance sheet review in this report for additional information related to our borrowings .total senior and subordinated debt , on a consolidated basis , decreased due to the following activity : table 24 : senior and subordinated debt .
[['in billions', '2018'], ['january 1', '$ 33.3'], ['issuances', '4.5'], ['calls and maturities', '-6.8 ( 6.8 )'], ['other', '-.1 ( .1 )'], ['december 31', '$ 30.9']]
.
|
assuming all matured securities were pledged as collateral , how much should we assume came from the calls?
|
1.9
|
{
"answer": "1.9",
"decimal": 1.9,
"type": "float"
}
| |
the goldman sachs group , inc .and subsidiaries item 9 .changes in and disagreements with accountants on accounting and financial disclosure there were no changes in or disagreements with accountants on accounting and financial disclosure during the last two years .item 9a .controls and procedures as of the end of the period covered by this report , an evaluation was carried out by goldman sachs 2019 management , with the participation of our chief executive officer and chief financial officer , of the effectiveness of our disclosure controls and procedures ( as defined in rule 13a-15 ( e ) under the exchange act ) .based upon that evaluation , our chief executive officer and chief financial officer concluded that these disclosure controls and procedures were effective as of the end of the period covered by this report .in addition , no change in our internal control over financial reporting ( as defined in rule 13a-15 ( f ) under the exchange act ) occurred during the fourth quarter of our year ended december 31 , 2018 that has materially affected , or is reasonably likely to materially affect , our internal control over financial reporting .management 2019s report on internal control over financial reporting and the report of independent registered public accounting firm are set forth in part ii , item 8 of this form 10-k .item 9b .other information not applicable .part iii item 10 .directors , executive officers and corporate governance information relating to our executive officers is included on page 20 of this form 10-k .information relating to our directors , including our audit committee and audit committee financial experts and the procedures by which shareholders can recommend director nominees , and our executive officers will be in our definitive proxy statement for our 2019 annual meeting of shareholders , which will be filed within 120 days of the end of 2018 ( 2019 proxy statement ) and is incorporated in this form 10-k by reference .information relating to our code of business conduct and ethics , which applies to our senior financial officers , is included in 201cbusiness 2014 available information 201d in part i , item 1 of this form 10-k .item 11 .executive compensation information relating to our executive officer and director compensation and the compensation committee of the board will be in the 2019 proxy statement and is incorporated in this form 10-k by reference .item 12 .security ownership of certain beneficial owners and management and related stockholder matters information relating to security ownership of certain beneficial owners of our common stock and information relating to the security ownership of our management will be in the 2019 proxy statement and is incorporated in this form 10-k by reference .the table below presents information as of december 31 , 2018 regarding securities to be issued pursuant to outstanding restricted stock units ( rsus ) and securities remaining available for issuance under our equity compensation plans that were in effect during 2018 .plan category securities to be issued exercise of outstanding options and rights ( a ) weighted average exercise price of outstanding options ( b ) securities available for future issuance under equity compensation plans ( c ) equity compensation plans approved by security holders 17176475 n/a 68211649 equity compensation plans not approved by security holders 2013 2013 2013 .
[['plan category', 'securities to be issued upon exercise of outstanding options and rights ( a )', 'weighted average exercise price of outstanding options ( b )', 'securities available for future issuance under equity compensation plans ( c )'], ['equity compensation plans approved by security holders', '17176475', 'n/a', '68211649'], ['equity compensation plans not approved by securityholders', '2013', '2013', '2013'], ['total', '17176475', '', '68211649']]
in the table above : 2030 securities to be issued upon exercise of outstanding options and rights includes 17176475 shares that may be issued pursuant to outstanding rsus .these awards are subject to vesting and other conditions to the extent set forth in the respective award agreements , and the underlying shares will be delivered net of any required tax withholding .as of december 31 , 2018 , there were no outstanding options .2030 shares underlying rsus are deliverable without the payment of any consideration , and therefore these awards have not been taken into account in calculating the weighted average exercise price .196 goldman sachs 2018 form 10-k .
|
what portion of the securities approved by security holders remains available for future issuance?
|
79.9%
|
{
"answer": "79.9%",
"decimal": 0.799,
"type": "percentage"
}
| |
item 2 : properties information concerning applied 2019s properties is set forth below: .
[['( square feet in thousands )', 'united states', 'other countries', 'total'], ['owned', '3964', '1652', '5616'], ['leased', '845', '1153', '1998'], ['total', '4809', '2805', '7614']]
because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .the company 2019s headquarters offices are in santa clara , california .products in semiconductor systems are manufactured in santa clara , california ; austin , texas ; gloucester , massachusetts ; kalispell , montana ; rehovot , israel ; and singapore .remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .products in the display and adjacent markets segment are manufactured in alzenau , germany ; and tainan , taiwan .other products are manufactured in treviso , italy .applied also owns and leases offices , plants and warehouse locations in many locations throughout the world , including in europe , japan , north america ( principally the united states ) , israel , china , india , korea , southeast asia and taiwan .these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and customer support .applied also owns a total of approximately 269 acres of buildable land in montana , texas , california , israel and italy that could accommodate additional building space .applied considers the properties that it owns or leases as adequate to meet its current and future requirements .applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
|
what percentage of the company's property is located in other countries and it is owned by the company?
|
21.7%
|
{
"answer": "21.7%",
"decimal": 0.217,
"type": "percentage"
}
| |
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 89% ( 89 % ) and 93% ( 93 % ) as of december 31 , 2013 and 2012 , 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'], ['2013', '$ -26.9 ( 26.9 )', '$ 27.9'], ['2012', '-27.5 ( 27.5 )', '28.4']]
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 , 2013 .we had $ 1642.1 of cash , cash equivalents and marketable securities as of december 31 , 2013 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 2013 and 2012 , we had interest income of $ 24.7 and $ 29.5 , respectively .based on our 2013 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 16.4 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2013 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 2013 were the australian dollar , brazilian real , euro , japanese yen and the south african rand .based on 2013 exchange rates and operating results , if the u.s .dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase between 3% ( 3 % ) and 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2013 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 the interest income from 2012 to 2013?
|
-16.3%
|
{
"answer": "-16.3%",
"decimal": -0.163,
"type": "percentage"
}
| |
as described above , the borrowings are extended on a non-recourse basis .as such , there is no credit or market risk exposure to us on the assets , and as a result the terms of the amlf permit exclusion of the assets from regulatory leverage and risk-based capital calculations .the interest rate on the borrowings is set by the federal reserve bank , and we earn net interest revenue by earning a spread on the difference between the yield we earn on the assets and the rate we pay on the borrowings .for 2008 , we earned net interest revenue associated with this facility of approximately $ 68 million .separately , we currently maintain a commercial paper program under which we can issue up to $ 3 billion with original maturities of up to 270 days from the date of issue .at december 31 , 2008 and 2007 , $ 2.59 billion and $ 2.36 billion , respectively , of commercial paper were outstanding .in addition , state street bank currently has board authority to issue bank notes up to an aggregate of $ 5 billion , including up to $ 2.48 billion of senior notes under the fdic 2019s temporary liquidity guarantee program , instituted by the fdic in october 2008 for qualified senior debt issued through june 30 , 2009 , and up to $ 1 billion of subordinated bank notes ( see note 10 ) .at december 31 , 2008 and 2007 , no notes payable were outstanding , and at december 31 , 2008 , all $ 5 billion was available for issuance .state street bank currently maintains a line of credit of cad $ 800 million , or approximately $ 657 million , to support its canadian securities processing operations .the line of credit has no stated termination date and is cancelable by either party with prior notice .at december 31 , 2008 , no balance was due on this line of credit .note 9 .restructuring charges in december 2008 , we implemented a plan to reduce our expenses from operations and support our long- term growth .in connection with this plan , we recorded aggregate restructuring charges of $ 306 million in our consolidated statement of income .the primary component of the plan was an involuntary reduction of approximately 7% ( 7 % ) of our global workforce , which reduction we expect to be substantially completed by the end of the first quarter of 2009 .other components of the plan included costs related to lease and software license terminations , restructuring of agreements with technology providers and other costs .of the aggregate restructuring charges of $ 306 million , $ 243 million related to severance , a portion of which will be paid in a lump sum or over a defined period , and a portion of which will provide related benefits and outplacement services for approximately 2100 employees identified for involuntary termination in connection with the plan ; $ 49 million related to future lease obligations and write-offs of capitalized assets , including $ 23 million for impairment of other intangible assets ; $ 10 million of costs associated with information technology and $ 4 million of other restructuring costs .the severance component included $ 47 million related to accelerated vesting of equity-based compensation .in december 2008 , approximately 620 employees were involuntarily terminated and left state street .the following table presents the activity in the related balance sheet reserve for 2008 .( in millions ) severance lease and write-offs information technology other total .
[['( in millions )', 'severance', 'lease and asset write-offs', 'information technology', 'other', 'total'], ['initial accrual', '$ 250', '$ 42', '$ 10', '$ 4', '$ 306'], ['payments and adjustments', '-20 ( 20 )', '-25 ( 25 )', '-10 ( 10 )', '-1 ( 1 )', '-56 ( 56 )'], ['balance at december 31 2008', '$ 230', '$ 17', '2014', '$ 3', '$ 250']]
.
|
what portion of the balance of initial accrual is related to severances?
|
81.7%
|
{
"answer": "81.7%",
"decimal": 0.8170000000000001,
"type": "percentage"
}
| |
meet customer needs and put us in a position to handle demand changes .we will also continue utilizing industrial engineering techniques to improve productivity .2022 fuel prices 2013 uncertainty about the economy makes fuel price projections difficult , and we could see volatile fuel prices during the year , as they are sensitive to global and u.s .domestic demand , refining capacity , geopolitical issues and events , weather conditions and other factors .to reduce the impact of fuel price on earnings , we will continue to seek recovery from our customers through our fuel surcharge programs and to expand our fuel conservation efforts .2022 capital plan 2013 in 2010 , we plan to make total capital investments of approximately $ 2.5 billion , including expenditures for ptc , which may be revised if business conditions or new laws or regulations affect our ability to generate sufficient returns on these investments .see further discussion in this item 7 under liquidity and capital resources 2013 capital plan .2022 positive train control ( ptc ) 2013 in response to a legislative mandate to implement ptc by the end of 2015 , we expect to spend approximately $ 200 million during 2010 on the development of ptc .we currently estimate that ptc will cost us approximately $ 1.4 billion to implement by the end of 2015 , in accordance with rules issued by the fra .this includes costs for installing the new system along our tracks , upgrading locomotives to work with the new system , and adding digital data communication equipment so all the parts of the system can communicate with each other .2022 financial expectations 2013 we remain cautious about economic conditions but expect volume to increase from 2009 levels .in addition , we anticipate continued pricing opportunities and further productivity improvements .results of operations operating revenues millions of dollars 2009 2008 2007 % ( % ) change 2009 v 2008 % ( % ) change 2008 v 2007 .
[['millions of dollars', '2009', '2008', '2007', '% ( % ) change 2009 v 2008', '% ( % ) change 2008 v 2007'], ['freight revenues', '$ 13373', '$ 17118', '$ 15486', '( 22 ) % ( % )', '11% ( 11 % )'], ['other revenues', '770', '852', '797', '-10 ( 10 )', '7'], ['total', '$ 14143', '$ 17970', '$ 16283', '( 21 ) % ( % )', '10% ( 10 % )']]
freight revenues are revenues generated by transporting freight or other materials from our six commodity groups .freight revenues vary with volume ( carloads ) and average revenue per car ( arc ) .changes in price , traffic mix and fuel surcharges drive arc .we provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations , which we record as a reduction to freight revenues based on the actual or projected future shipments .we recognize freight revenues on a percentage-of-completion basis as freight moves from origin to destination .we allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them .other revenues include revenues earned by our subsidiaries , revenues from our commuter rail operations , and accessorial revenues , which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage .we recognize other revenues as we perform services or meet contractual obligations .freight revenues and volume levels for all six commodity groups decreased during 2009 , reflecting continued economic weakness .we experienced the largest volume declines in automotive and industrial .
|
how much of the 2010 capital expenditures are devoted to expenditures for ptc?
|
8%
|
{
"answer": "8%",
"decimal": 0.08,
"type": "percentage"
}
| |
proved reserves can be added as expansions are permitted , funding is approved and certain stipulations of the joint venture agreement are satisfied .the following table sets forth changes in estimated quantities of net proved bitumen reserves for the year 2008 .estimated quantities of proved bitumen reserves ( millions of barrels ) 2008 .
[['( millions of barrels )', '2008'], ['beginning of year', '421'], ['revisions ( a )', '-30 ( 30 )'], ['extensions discoveries and additions', '6'], ['production', '-9 ( 9 )'], ['end of year', '388']]
( a ) revisions were driven primarily by price and the impact of the new royalty regime discussed below .the above estimated quantity of net proved bitumen reserves is a forward-looking statement and is based on a number of assumptions , including ( among others ) commodity prices , volumes in-place , presently known physical data , recoverability of bitumen , industry economic conditions , levels of cash flow from operations , and other operating considerations .to the extent these assumptions prove inaccurate , actual recoveries could be different than current estimates .for a discussion of the proved bitumen reserves estimation process , see item 7 .management 2019s discussion and analysis of financial condition and results of operations 2013 critical accounting estimates 2013 estimated net recoverable reserve quantities 2013 proved bitumen reserves .operations at the aosp are not within the scope of statement of financial accounting standards ( 201csfas 201d ) no .25 , 201csuspension of certain accounting requirements for oil and gas producing companies ( an amendment of financial accounting standards board ( 201cfasb 201d ) statement no .19 ) , 201d sfas no .69 , 201cdisclosures about oil and gas producing activities ( an amendment of fasb statements 19 , 25 , 33 and 39 ) , 201d and securities and exchange commission ( 201csec 201d ) rule 4-10 of regulation s-x ; therefore , bitumen production and reserves are not included in our supplementary information on oil and gas producing activities .the sec has recently issued a release amending these disclosure requirements effective for annual reports on form 10-k for fiscal years ending on or after december 31 , 2009 , see item 7 .management 2019s discussion and analysis of financial condition and results of operations 2013 accounting standards not yet adopted for additional information .prior to our acquisition of western , the first fully-integrated expansion of the existing aosp facilities was approved in 2006 .expansion 1 , which includes construction of mining and extraction facilities at the jackpine mine , expansion of treatment facilities at the existing muskeg river mine , expansion of the scotford upgrader and development of related infrastructure , is anticipated to begin operations in late 2010 or 2011 .when expansion 1 is complete , we will have more than 50000 bpd of net production and upgrading capacity in the canadian oil sands .the timing and scope of future expansions and debottlenecking opportunities on existing operations remain under review .during 2008 , the alberta government accepted the project 2019s application to have a portion of the expansion 1 capital costs form part of the muskeg river mine 2019s allowable cost recovery pool .due to commodity price declines in the year , royalties for 2008 were one percent of the gross mine revenue .commencing january 1 , 2009 , the alberta royalty regime has been amended such that royalty rates will be based on the canadian dollar ( 201ccad 201d ) equivalent monthly average west texas intermediate ( 201cwti 201d ) price .royalty rates will rise from a minimum of one percent to a maximum of nine percent under the gross revenue method and from a minimum of 25 percent to a maximum of 40 percent under the net revenue method .under both methods , the minimum royalty is based on a wti price of $ 55.00 cad per barrel and below while the maximum royalty is reached at a wti price of $ 120.00 cad per barrel and above , with a linear increase in royalty between the aforementioned prices .the above discussion of the oil sands mining segment includes forward-looking statements concerning the anticipated completion of aosp expansion 1 .factors which could affect the expansion project include transportation logistics , availability of materials and labor , unforeseen hazards such as weather conditions , delays in obtaining or conditions imposed by necessary government and third-party approvals and other risks customarily associated with construction projects .refining , marketing and transportation refining we own and operate seven refineries in the gulf coast , midwest and upper great plains regions of the united states with an aggregate refining capacity of 1.016 million barrels per day ( 201cmmbpd 201d ) of crude oil .during 2008 .
|
by how much did proved bitumen reserves decrease during 2008?
|
-7.8%
|
{
"answer": "-7.8%",
"decimal": -0.078,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 19 .subsequent events 12.25% ( 12.25 % ) senior subordinated discount notes and warrants offering 2014in january 2003 , the company issued 808000 units , each consisting of ( 1 ) $ 1000 principal amount at maturity of the 12.25% ( 12.25 % ) senior subordinated discount notes due 2008 of a wholly owned subsidiary of the company ( ati notes ) and ( 2 ) a warrant to purchase 14.0953 shares of class a common stock of the company , for gross proceeds of $ 420.0 million .the gross offering proceeds were allocated between the ati notes ( $ 367.4 million ) and the fair value of the warrants ( $ 52.6 million ) .net proceeds from the offering aggregated approximately $ 397.0 million and were or will be used for the purposes described below under amended and restated loan agreement .the ati notes accrue no cash interest .instead , the accreted value of each ati note will increase between the date of original issuance and maturity ( august 1 , 2008 ) at a rate of 12.25% ( 12.25 % ) per annum .the 808000 warrants that were issued together with the ati notes each represent the right to purchase 14.0953 shares of class a common stock at $ 0.01 per share .the warrants are exercisable at any time on or after january 29 , 2006 and will expire on august 1 , 2008 .as of the issuance date , the warrants represented approximately 5.5% ( 5.5 % ) of the company 2019s outstanding common stock ( assuming exercise of all warrants ) .the indenture governing the ati notes contains covenants that , among other things , limit the ability of the issuer subsidiary and its guarantors to incur or guarantee additional indebtedness , create liens , pay dividends or make other equity distributions , enter into agreements restricting the restricted subsidiaries 2019 ability to pay dividends , purchase or redeem capital stock , make investments and sell assets or consolidate or merge with or into other companies .the ati notes rank junior in right of payment to all existing and future senior indebtedness , including all indebtedness outstanding under the credit facilities , and are structurally senior in right of payment to all existing and future indebtedness of the company .amended and restated loan agreement 2014on february 21 , 2003 , the company completed an amendment to its credit facilities .the amendment provides for the following : 2022 prepayment of a portion of outstanding term loans .the company agreed to prepay an aggregate of $ 200.0 million of the term loans outstanding under the credit facilities from a portion of the net proceeds of the ati notes offering completed in january 2003 .this prepayment consisted of a $ 125.0 million prepayment of the term loan a and a $ 75.0 million prepayment of the term loan b , each to be applied to reduce future scheduled principal payments .giving effect to the prepayment of $ 200.0 million of term loans under the credit facility and the issuance of the ati notes as discussed above as well as the paydown of debt from net proceeds of the sale of mtn ( $ 24.5 million in february 2003 ) , the company 2019s aggregate principal payments of long- term debt , including capital leases , for the next five years and thereafter are as follows ( in thousands ) : year ending december 31 .
[['2003', '$ 268496'], ['2004', '131262'], ['2005', '195082'], ['2006', '538479'], ['2007', '1065437'], ['thereafter', '1408783'], ['total', '$ 3607539']]
.
|
what is the total expected payments for principal of long- term debt , including capital leases in the next 24 months?
|
399758
|
{
"answer": "399758",
"decimal": 399758,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements as of december 31 , 2010 , total unrecognized compensation expense related to unvested restricted stock units granted under the 2007 plan was $ 57.5 million and is expected to be recognized over a weighted average period of approximately two years .employee stock purchase plan 2014the company maintains an employee stock purchase plan ( 201cespp 201d ) for all eligible employees .under the espp , shares of the company 2019s common stock may be purchased during bi-annual offering periods at 85% ( 85 % ) of the lower of the fair market value on the first or the last day of each offering period .employees may purchase shares having a value not exceeding 15% ( 15 % ) of their gross compensation during an offering period and may not purchase more than $ 25000 worth of stock in a calendar year ( based on market values at the beginning of each offering period ) .the offering periods run from june 1 through november 30 and from december 1 through may 31 of each year .during the 2010 , 2009 and 2008 offering periods employees purchased 75354 , 77509 and 55764 shares , respectively , at weighted average prices per share of $ 34.16 , $ 23.91 and $ 30.08 , respectively .the fair value of the espp offerings is estimated on the offering period commencement date using a black-scholes pricing model with the expense recognized over the expected life , which is the six month offering period over which employees accumulate payroll deductions to purchase the company 2019s common stock .the weighted average fair value for the espp shares purchased during 2010 , 2009 and 2008 was $ 9.43 , $ 6.65 and $ 7.89 , respectively .at december 31 , 2010 , 8.7 million shares remain reserved for future issuance under the plan .key assumptions used to apply this pricing model for the years ended december 31 , are as follows: .
[['', '2010', '2009', '2008'], ['range of risk-free interest rate', '0.22% ( 0.22 % ) - 0.23% ( 0.23 % )', '0.29% ( 0.29 % ) - 0.44% ( 0.44 % )', '1.99% ( 1.99 % ) - 3.28% ( 3.28 % )'], ['weighted average risk-free interest rate', '0.22% ( 0.22 % )', '0.38% ( 0.38 % )', '2.58% ( 2.58 % )'], ['expected life of shares', '6 months', '6 months', '6 months'], ['range of expected volatility of underlying stock price', '35.26% ( 35.26 % ) - 35.27% ( 35.27 % )', '35.31% ( 35.31 % ) - 36.63% ( 36.63 % )', '27.85% ( 27.85 % ) - 28.51% ( 28.51 % )'], ['weighted average expected volatility of underlying stock price', '35.26% ( 35.26 % )', '35.83% ( 35.83 % )', '28.51% ( 28.51 % )'], ['expected annual dividends', 'n/a', 'n/a', 'n/a']]
13 .stockholders 2019 equity warrants 2014in august 2005 , the company completed its merger with spectrasite , inc .and assumed outstanding warrants to purchase shares of spectrasite , inc .common stock .as of the merger completion date , each warrant was exercisable for two shares of spectrasite , inc .common stock at an exercise price of $ 32 per warrant .upon completion of the merger , each warrant to purchase shares of spectrasite , inc .common stock automatically converted into a warrant to purchase shares of the company 2019s common stock , such that upon exercise of each warrant , the holder has a right to receive 3.575 shares of the company 2019s common stock in lieu of each share of spectrasite , inc .common stock that would have been receivable under each assumed warrant prior to the merger .upon completion of the company 2019s merger with spectrasite , inc. , these warrants were exercisable for approximately 6.8 million shares of common stock .of these warrants , warrants to purchase approximately none and 1.7 million shares of common stock remained outstanding as of december 31 , 2010 and 2009 , respectively .these warrants expired on february 10 , 2010 .stock repurchase program 2014during the year ended december 31 , 2010 , the company repurchased an aggregate of approximately 9.3 million shares of its common stock for an aggregate of $ 420.8 million , including commissions and fees , of which $ 418.6 million was paid in cash prior to december 31 , 2010 and $ 2.2 million was included in accounts payable and accrued expenses in the accompanying consolidated balance sheet as of december 31 , 2010 , pursuant to its publicly announced stock repurchase program , as described below. .
|
what was the percentage change in the weighted average fair value for the espp shares purchased from 2009 to 2010
|
41.8%
|
{
"answer": "41.8%",
"decimal": 0.418,
"type": "percentage"
}
| |
note 4 - goodwill and other intangible assets : goodwill the company had approximately $ 93.2 million and $ 94.4 million of goodwill at december 30 , 2017 and december 31 , 2016 , respectively .the changes in the carrying amount of goodwill for the years ended december 30 , 2017 and december 31 , 2016 are as follows ( in thousands ) : .
[['', '2017', '2016'], ['balance beginning of year', '$ 94417', '$ 10258'], ['goodwill acquired as part of acquisition', '2014', '84159'], ['working capital settlement', '-1225 ( 1225 )', '2014'], ['impairment loss', '2014', '2014'], ['balance end of year', '$ 93192', '$ 94417']]
goodwill is allocated to each identified reporting unit , which is defined as an operating segment or one level below the operating segment .goodwill is not amortized , but is evaluated for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable .the company completes its impairment evaluation by performing valuation analyses and considering other publicly available market information , as appropriate .the test used to identify the potential for goodwill impairment compares the fair value of a reporting unit with its carrying value .an impairment charge would be recorded to the company 2019s operations for the amount , if any , in which the carrying value exceeds the fair value .in the fourth quarter of fiscal 2017 , the company completed its annual impairment testing of goodwill and no impairment was identified .the company determined that the fair value of each reporting unit ( including goodwill ) was in excess of the carrying value of the respective reporting unit .in reaching this conclusion , the fair value of each reporting unit was determined based on either a market or an income approach .under the market approach , the fair value is based on observed market data .other intangible assets the company had approximately $ 31.3 million of intangible assets other than goodwill at december 30 , 2017 and december 31 , 2016 .the intangible asset balance represents the estimated fair value of the petsense tradename , which is not subject to amortization as it has an indefinite useful life on the basis that it is expected to contribute cash flows beyond the foreseeable horizon .with respect to intangible assets , we evaluate for impairment annually and whenever events or changes in circumstances indicate that the carrying value may not be recoverable .we recognize an impairment loss only if the carrying amount is not recoverable through its discounted cash flows and measure the impairment loss based on the difference between the carrying value and fair value .in the fourth quarter of fiscal 2017 , the company completed its annual impairment testing of intangible assets and no impairment was identified. .
|
what percent of the 2017 end goodwill balance is the goodwill from the acquisition?
|
89.14%
|
{
"answer": "89.14%",
"decimal": 0.8914,
"type": "percentage"
}
| |
management 2019s discussion and analysis interest expense was $ 17 million less in 2004 than in 2003 reflecting the year over year reduction in debt of $ 316 million .other charges declined $ 30 million in 2004 due to a combination of lower environmental remediation , legal and workers compensation expenses and the absence of certain 2003 charges .other earnings were $ 28 million higher in 2004 due primarily to higher earnings from our equity affiliates .the effective tax rate for 2004 was 30.29% ( 30.29 % ) compared to 34.76% ( 34.76 % ) for the full year 2003 .the reduction in the rate for 2004 reflects the benefit of the subsidy offered pursuant to the medicare act not being subject to tax , the continued improvement in the geographical mix of non- u.s .earnings and the favorable resolution during 2004 of matters related to two open u.s .federal income tax years .net income in 2004 totaled $ 683 million , an increase of $ 189 million over 2003 , and earnings per share 2013 diluted increased $ 1.06 to $ 3.95 per share .results of business segments net sales operating income ( millions ) 2004 2003 2004 2003 ( 1 ) coatings $ 5275 $ 4835 $ 777 $ 719 .
[['( millions )', 'net sales 2004', 'net sales 2003', 'net sales 2004', '2003 ( 1 )'], ['coatings', '$ 5275', '$ 4835', '$ 777', '$ 719'], ['glass', '2204', '2150', '169', '71'], ['chemicals', '2034', '1771', '291', '228']]
chemicals 2034 1771 291 228 ( 1 ) operating income by segment for 2003 has been revised to reflect a change in the allocation method for certain pension and other postretirement benefit costs in 2004 ( see note 22 , 201cbusiness segment information 201d , under item 8 of this form 10-k ) .coatings sales increased $ 440 million or 9% ( 9 % ) in 2004 .sales increased 6% ( 6 % ) from improved volumes across all our coatings businesses and 4% ( 4 % ) due to the positive effects of foreign currency translation , primarily from our european operations .sales declined 1% ( 1 % ) due to lower selling prices , principally in our automotive business .operating income increased $ 58 million in 2004 .factors increasing operating income were the higher sales volume ( $ 135 million ) and the favorable effects of currency translation described above and improved manufacturing efficiencies of $ 20 million .factors decreasing operating income were inflationary cost increases of $ 82 million and lower selling prices .glass sales increased $ 54 million or 3% ( 3 % ) in 2004 .sales increased 6% ( 6 % ) from improved volumes primarily from our performance glazings ( flat glass ) , fiber glass , and automotive original equipment businesses net of lower volumes in our automotive replacement glass business .sales also increased 2% ( 2 % ) due to the positive effects of foreign currency translation , primarily from our european fiber glass operations .sales declined 5% ( 5 % ) due to lower selling prices across all our glass businesses .operating income in 2004 increased $ 98 million .factors increasing operating income were improved manufacturing efficiencies of $ 110 million , higher sales volume ( $ 53 million ) described above , higher equity earnings and the gains on the sale/leaseback of precious metals of $ 19 million .the principal factor decreasing operating income was lower selling prices .fiber glass volumes were up 15% ( 15 % ) for the year , although pricing declined .with the shift of electronic printed wiring board production to asia and the volume and pricing gains there , equity earnings from our joint venture serving that region grew in 2004 .these factors combined with focused cost reductions and manufacturing efficiencies to improve the operating performance of this business , as we continue to position it for future growth in profitability .chemicals sales increased $ 263 million or 15% ( 15 % ) in 2004 .sales increased 10% ( 10 % ) from improved volumes in our commodity and specialty businesses and 4% ( 4 % ) due to higher selling prices for our commodity products .sales also increased 1% ( 1 % ) due to the positive effects of foreign currency translation , primarily from our european operations .operating income increased $ 63 million in 2004 .factors increasing operating income were the higher selling prices for our commodity products and the higher sales volume ( $ 73 million ) described above , improved manufacturing efficiencies of $ 25 million and lower environmental expenses .factors decreasing 2004 operating income were inflationary cost increases of $ 40 million and higher energy costs of $ 79 million .other significant factors the company 2019s pension and other postretirement benefit costs for 2004 were $ 45 million lower than in 2003 .this decrease reflects the market driven growth in pension plan assets that occurred in 2003 , the impact of the $ 140 million in cash contributed to the pension plans by the company in 2004 and the benefit of the subsidy offered pursuant to the medicare act , as discussed in note 12 , 201cpension and other postretirement benefits , 201d under item 8 of this form 10-k .commitments and contingent liabilities , including environmental matters ppg is involved in a number of lawsuits and claims , both actual and potential , including some that it has asserted against others , in which substantial monetary damages are sought .see item 3 , 201clegal proceedings 201d of this form 10-k and note 13 , 201ccommitments and contingent liabilities , 201d under item 8 of this form 10-k for a description of certain of these lawsuits , including a description of the proposed ppg settlement arrangement for asbestos claims announced on may 14 , 2002 .as discussed in item 3 and note 13 , although the result of any future litigation of such lawsuits and claims is inherently unpredictable , management believes that , in the aggregate , the outcome of all lawsuits and claims involving ppg , including asbestos-related claims in the event the ppg settlement arrangement described in note 13 does not become effective , will not have a material effect on ppg 2019s consolidated financial position or liquidity ; however , any such outcome may be material to the results of operations of any particular period in which costs , if any , are recognized .the company has been named as a defendant , along with various other co-defendants , in a number of antitrust lawsuits filed in federal and state courts .these suits allege that ppg acted with competitors to fix prices and allocate markets in the flat glass and automotive refinish industries .22 2005 ppg annual report and form 10-k .
|
what would 2004 sales have been in the glass segment without the positive effects of foreign currency translation , in millions?
|
2107
|
{
"answer": "2107",
"decimal": 2107,
"type": "float"
}
| |
the weighted average grant date fair value of options granted during 2012 , 2011 , and 2010 was $ 13 , $ 19 and $ 20 per share , respectively .the total intrinsic value of options exercised during the years ended december 31 , 2012 , 2011 and 2010 , was $ 19.0 million , $ 4.2 million and $ 15.6 million , respectively .in 2012 , the company granted 931340 shares of restricted class a common stock and 4048 shares of restricted stock units .restricted common stock and restricted stock units generally have a vesting period of 2 to 4 years .the fair value related to these grants was $ 54.5 million , which is recognized as compensation expense on an accelerated basis over the vesting period .beginning with restricted stock grants in september 2010 , dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .in 2012 , the company also granted 138410 performance shares .the fair value related to these grants was $ 7.7 million , which is recognized as compensation expense on an accelerated and straight-lined basis over the vesting period .the vesting of these shares is contingent on meeting stated performance or market conditions .the following table summarizes restricted stock , restricted stock units , and performance shares activity for 2012 : number of shares weighted average grant date fair value outstanding at december 31 , 2011 ..............1432610 $ 57 .
[['', 'number of shares', 'weightedaveragegrant datefair value'], ['outstanding at december 31 2011', '1432610', '$ 57'], ['granted', '1073798', '54'], ['vested', '-366388 ( 366388 )', '55'], ['cancelled', '-226493 ( 226493 )', '63'], ['outstanding at december 31 2012', '1913527', '54']]
outstanding at december 31 , 2012 ..............1913527 54 the total fair value of restricted stock , restricted stock units , and performance shares that vested during the years ended december 31 , 2012 , 2011 and 2010 , was $ 20.9 million , $ 11.6 million and $ 10.3 million , respectively .eligible employees may acquire shares of class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration .shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq global select market .compensation expense is recognized on the dates of purchase for the discount from the closing price .in 2012 , 2011 and 2010 , a total of 27768 , 32085 and 21855 shares , respectively , of class a common stock were issued to participating employees .these shares are subject to a six-month holding period .annual expense of $ 0.1 million , $ 0.2 million and $ 0.1 million for the purchase discount was recognized in 2012 , 2011 and 2010 , respectively .non-executive directors receive an annual award of class a common stock with a value equal to $ 75000 .non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 25000 , in shares of stock based on the closing price at the date of distribution .as a result , 40260 , 40585 and 37350 shares of class a common stock were issued to non-executive directors during 2012 , 2011 and 2010 , respectively .these shares are not subject to any vesting restrictions .expense of $ 2.2 million , $ 2.1 million and $ 2.4 million related to these stock-based payments was recognized for the years ended december 31 , 2012 , 2011 and 2010 , respectively .19 .fair value measurements in general , the company uses quoted prices in active markets for identical assets to determine the fair value of marketable securities and equity investments .level 1 assets generally include u.s .treasury securities , equity securities listed in active markets , and investments in publicly traded mutual funds with quoted market prices .if quoted prices are not available to determine fair value , the company uses other inputs that are directly observable .assets included in level 2 generally consist of asset- backed securities , municipal bonds , u.s .government agency securities and interest rate swap contracts .asset-backed securities , municipal bonds and u.s .government agency securities were measured at fair value based on matrix pricing using prices of similar securities with similar inputs such as maturity dates , interest rates and credit ratings .the company determined the fair value of its interest rate swap contracts using standard valuation models with market-based observable inputs including forward and spot exchange rates and interest rate curves. .
|
what is the total value of cancelled shares , ( in millions ) ?
|
14.3
|
{
"answer": "14.3",
"decimal": 14.3,
"type": "float"
}
| |
foodservice sales volumes increased in 2012 compared with 2011 .average sales margins were higher reflecting the realization of sales price increases for the pass-through of earlier cost increases .raw material costs for board and resins were lower .operating costs and distribution costs were both higher .the u.s .shorewood business was sold december 31 , 2011 and the non-u.s .business was sold in january looking ahead to the first quarter of 2013 , coated paperboard sales volumes are expected to increase slightly from the fourth quarter of 2012 .average sales price realizations are expected to be slightly lower , but margins should benefit from a more favorable product mix .input costs are expected to be higher for energy and wood .no planned main- tenance outages are scheduled in the first quarter .in january 2013 the company announced the perma- nent shutdown of a coated paperboard machine at the augusta mill with an annual capacity of 140000 tons .foodservice sales volumes are expected to increase .average sales margins are expected to decrease due to the realization of sales price decreases effective with our january contract open- ers .input costs for board and resin are expected to be lower and operating costs are also expected to decrease .european consumer packaging net sales in 2012 were $ 380 million compared with $ 375 million in 2011 and $ 345 million in 2010 .operating profits in 2012 were $ 99 million compared with $ 93 million in 2011 and $ 76 million in 2010 .sales volumes in 2012 increased from 2011 .average sales price realizations were higher in russian markets , but were lower in european markets .input costs decreased , primarily for wood , and planned maintenance downtime costs were lower in 2012 than in 2011 .looking forward to the first quarter of 2013 , sales volumes are expected to decrease in both europe and russia .average sales price realizations are expected to be higher in russia , but be more than offset by decreases in europe .input costs are expected to increase for wood and chemicals .no maintenance outages are scheduled for the first quarter .asian consumer packaging net sales were $ 830 million in 2012 compared with $ 855 million in 2011 and $ 705 million in 2010 .operating profits in 2012 were $ 4 million compared with $ 35 million in 2011 and $ 34 million in 2010 .sales volumes increased in 2012 compared with 2011 partially due to the start-up of a new coated paperboard machine .average sales price realizations were significantly lower , but were partially offset by lower input costs for purchased pulp .start-up costs for a new coated paperboard machine adversely impacted operating profits in 2012 .in the first quarter of 2013 , sales volumes are expected to increase slightly .average sales price realizations for folding carton board and bristols board are expected to be lower reflecting increased competitive pressures and seasonally weaker market demand .input costs should be higher for pulp and chemicals .however , costs related to the ramp-up of the new coated paperboard machine should be lower .distribution xpedx , our distribution business , is one of north america 2019s leading business-to-business distributors to manufacturers , facility managers and printers , providing customized solutions that are designed to improve efficiency , reduce costs and deliver results .customer demand is generally sensitive to changes in economic conditions and consumer behavior , along with segment specific activity including corpo- rate advertising and promotional spending , government spending and domestic manufacturing activity .distribution 2019s margins are relatively stable across an economic cycle .providing customers with the best choice for value in both products and supply chain services is a key competitive factor .addition- ally , efficient customer service , cost-effective logis- tics and focused working capital management are key factors in this segment 2019s profitability .distribution .
[['in millions', '2012', '2011', '2010'], ['sales', '$ 6040', '$ 6630', '$ 6735'], ['operating profit', '22', '34', '78']]
distr ibut ion 2019s 2012 annual sales decreased 9% ( 9 % ) from 2011 , and decreased 10% ( 10 % ) from 2010 .operating profits in 2012 were $ 22 million ( $ 71 million exclud- ing reorganization costs ) compared with $ 34 million ( $ 86 million excluding reorganization costs ) in 2011 and $ 78 million in 2010 .annual sales of printing papers and graphic arts supplies and equipment totaled $ 3.5 billion in 2012 compared with $ 4.0 billion in 2011 and $ 4.2 billion in 2010 , reflecting declining demand and the exiting of unprofitable businesses .trade margins as a percent of sales for printing papers were relatively even with both 2011 and 2010 .revenue from packaging prod- ucts was flat at $ 1.6 billion in both 2012 and 2011 and up slightly compared to $ 1.5 billion in 2010 .pack- aging margins increased in 2012 from both 2011 and 2010 , reflecting the successful execution of strategic sourcing initiatives .facility supplies annual revenue was $ 0.9 billion in 2012 , down compared to $ 1.0 bil- lion in 2011 and 2010 .operating profits in 2012 included $ 49 million of reorganization costs for severance , professional services and asset write-downs compared with $ 52 .
|
what percent of distribution sales where attributable to printing papers and graphic arts supplies and equipment in 2012?
|
58%
|
{
"answer": "58%",
"decimal": 0.58,
"type": "percentage"
}
| |
equity compensation plan information the plan documents for the plans described in the footnotes below are included as exhibits to this form 10-k , and are incorporated herein by reference in their entirety .the following table provides information as of dec .31 , 2006 regarding the number of shares of ppg common stock that may be issued under ppg 2019s equity compensation plans .plan category securities exercise of outstanding options , warrants and rights weighted- average exercise price of outstanding warrants and rights number of securities remaining available for future issuance under equity compensation ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) 9413216 $ 58.35 10265556 equity compensation plans not approved by security holders ( 2 ) , ( 3 ) 2089300 $ 70.00 2014 .
[['plan category', 'numberof securities to be issued upon exercise of outstanding options warrants and rights ( a )', 'weighted- average exercise price of outstanding options warrants and rights ( b )', 'number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )'], ['equity compensation plans approved by security holders ( 1 )', '9413216', '$ 58.35', '10265556'], ['equity compensation plans not approved by security holders ( 2 ) ( 3 )', '2089300', '$ 70.00', '2014'], ['total', '11502516', '$ 60.57', '10265556']]
( 1 ) equity compensation plans approved by security holders include the ppg industries , inc .stock plan , the ppg omnibus plan , the ppg industries , inc .executive officers 2019 long term incentive plan , and the ppg industries inc .long term incentive plan .( 2 ) equity compensation plans not approved by security holders include the ppg industries , inc .challenge 2000 stock plan .this plan is a broad- based stock option plan under which the company granted to substantially all active employees of the company and its majority owned subsidiaries on july 1 , 1998 , the option to purchase 100 shares of the company 2019s common stock at its then fair market value of $ 70.00 per share .options became exercisable on july 1 , 2003 , and expire on june 30 , 2008 .there were 2089300 shares issuable upon exercise of options outstanding under this plan as of dec .31 , 2006 .( 3 ) excluded from the information presented here are common stock equivalents held under the ppg industries , inc .deferred compensation plan , the ppg industries , inc .deferred compensation plan for directors and the ppg industries , inc .directors 2019 common stock plan , none of which are equity compensation plans .as supplemental information , there were 491168 common stock equivalents held under such plans as of dec .31 , 2006 .item 6 .selected financial data the information required by item 6 regarding the selected financial data for the five years ended dec .31 , 2006 is included in exhibit 99.2 filed with this form 10-k and is incorporated herein by reference .this information is also reported in the eleven-year digest on page 72 of the annual report under the captions net sales , income ( loss ) before accounting changes , cumulative effect of accounting changes , net income ( loss ) , earnings ( loss ) per common share before accounting changes , cumulative effect of accounting changes on earnings ( loss ) per common share , earnings ( loss ) per common share , earnings ( loss ) per common share 2013 assuming dilution , dividends per share , total assets and long-term debt for the years 2002 through 2006 .item 7 .management 2019s discussion and analysis of financial condition and results of operations performance in 2006 compared with 2005 performance overview our sales increased 8% ( 8 % ) to $ 11.0 billion in 2006 compared to $ 10.2 billion in 2005 .sales increased 4% ( 4 % ) due to the impact of acquisitions , 2% ( 2 % ) due to increased volumes , and 2% ( 2 % ) due to increased selling prices .cost of sales as a percentage of sales increased slightly to 63.7% ( 63.7 % ) compared to 63.5% ( 63.5 % ) in 2005 .selling , general and administrative expense increased slightly as a percentage of sales to 17.9% ( 17.9 % ) compared to 17.4% ( 17.4 % ) in 2005 .these costs increased primarily due to higher expenses related to store expansions in our architectural coatings operating segment and increased advertising to promote growth in our optical products operating segment .other charges decreased $ 81 million in 2006 .other charges in 2006 included pretax charges of $ 185 million for estimated environmental remediation costs at sites in new jersey and $ 42 million for legal settlements offset in part by pretax earnings of $ 44 million for insurance recoveries related to the marvin legal settlement and to hurricane rita .other charges in 2005 included pretax charges of $ 132 million related to the marvin legal settlement net of related insurance recoveries of $ 18 million , $ 61 million for the federal glass class action antitrust legal settlement , $ 34 million of direct costs related to the impact of hurricanes rita and katrina , $ 27 million for an asset impairment charge in our fine chemicals operating segment and $ 19 million for debt refinancing costs .other earnings increased $ 30 million in 2006 due to higher equity earnings , primarily from our asian fiber glass joint ventures , and higher royalty income .net income and earnings per share 2013 assuming dilution for 2006 were $ 711 million and $ 4.27 , respectively , compared to $ 596 million and $ 3.49 , respectively , for 2005 .net income in 2006 included aftertax charges of $ 106 million , or 64 cents a share , for estimated environmental remediation costs at sites in new jersey and louisiana in the third quarter ; $ 26 million , or 15 cents a share , for legal settlements ; $ 23 million , or 14 cents a share for business restructuring ; $ 17 million , or 10 cents a share , to reflect the net increase in the current value of the company 2019s obligation relating to asbestos claims under the ppg settlement arrangement ; and aftertax earnings of $ 24 million , or 14 cents a share for insurance recoveries .net income in 2005 included aftertax charges of $ 117 million , or 68 cents a share for legal settlements net of insurance ; $ 21 million , or 12 cents a share for direct costs related to the impact of hurricanes katrina and rita ; $ 17 million , or 10 cents a share , related to an asset impairment charge related to our fine chemicals operating segment ; $ 12 million , or 7 cents a share , for debt refinancing cost ; and $ 13 million , or 8 cents a share , to reflect the net increase in the current 2006 ppg annual report and form 10-k 19 4282_txt to be issued options , number of .
|
if all of the unexercised shares under the challenge 2000 stock plan were exercised , what would the increase in shareholders equity be?
|
146251000
|
{
"answer": "146251000",
"decimal": 146251000,
"type": "float"
}
| |
special purpose entity ( 201cspe 201d ) .the spe obtained a term loan and revolving loan commitment from a third party lender , secured by liens on the assets of the spe , to finance the purchase of the accounts receivable , which included a $ 275 million term loan and a $ 25 million revolving loan commitment .the revolving loan commitment may be increased by an additional $ 35 million as amounts are repaid under the term loan .quintilesims has guaranteed the performance of the obligations of existing and future subsidiaries that sell and service the accounts receivable under the receivables financing facility .the assets of the spe are not available to satisfy any of our obligations or any obligations of our subsidiaries .as of december 31 , 2016 , the full $ 25 million of revolving loan commitment was available under the receivables financing facility .we used the proceeds from the term loan under the receivables financing facility to repay in full the amount outstanding on the then outstanding revolving credit facility under its then outstanding senior secured credit agreement ( $ 150 million ) , to repay $ 25 million of the then outstanding term loan b-3 , to pay related fees and expenses and the remainder was used for general working capital purposes .restrictive covenants our debt agreements provide for certain covenants and events of default customary for similar instruments , including a covenant not to exceed a specified ratio of consolidated senior secured net indebtedness to consolidated ebitda , as defined in the senior secured credit facility and a covenant to maintain a specified minimum interest coverage ratio .if an event of default occurs under any of the company 2019s or the company 2019s subsidiaries 2019 financing arrangements , the creditors under such financing arrangements will be entitled to take various actions , including the acceleration of amounts due under such arrangements , and in the case of the lenders under the revolving credit facility and new term loans , other actions permitted to be taken by a secured creditor .our long-term debt arrangements contain usual and customary restrictive covenants that , among other things , place limitations on our ability to declare dividends .for additional information regarding these restrictive covenants , see part ii , item 5 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities 2014dividend policy 201d and note 11 to our audited consolidated financial statements included elsewhere in this annual report on form 10-k .at december 31 , 2016 , the company was in compliance with the financial covenants under the company 2019s financing arrangements .years ended december 31 , 2016 , 2015 and 2014 cash flow from operating activities .
[['( in millions )', 'year ended december 31 , 2016', 'year ended december 31 , 2015', 'year ended december 31 , 2014'], ['net cash provided by operating activities', '$ 860', '$ 476', '$ 433']]
2016 compared to 2015 cash provided by operating activities increased $ 384 million in 2016 as compared to 2015 .the increase in cash provided by operating activities reflects the increase in net income as adjusted for non-cash items necessary to reconcile net income to cash provided by operating activities .also contributing to the increase were lower payments for income taxes ( $ 15 million ) , and lower cash used in days sales outstanding ( 201cdso 201d ) and accounts payable and accrued expenses .the lower cash used in dso reflects a two-day increase in dso in 2016 compared to a seven-day increase in dso in 2015 .dso can shift significantly at each reporting period depending on the timing of cash receipts under contractual payment terms relative to the recognition of revenue over a project lifecycle. .
|
what is the percent increase in net cash provided by operating activities from 2015 to 2016?
|
80.67%
|
{
"answer": "80.67%",
"decimal": 0.8067,
"type": "percentage"
}
| |
supplemental pro forma financial information ( unaudited ) the following table presents summarized unaudited pro forma financial information as if sikorsky had been included in our financial results for the entire year in 2015 ( in millions ) : .
[['net sales', '$ 45366'], ['net earnings', '3534'], ['basic earnings per common share', '11.39'], ['diluted earnings per common share', '11.23']]
the unaudited supplemental pro forma financial data above has been calculated after applying our accounting policies and adjusting the historical results of sikorskywith pro forma adjustments , net of tax , that assume the acquisition occurred on january 1 , 2015 .significant pro forma adjustments include the recognition of additional amortization expense related to acquired intangible assets and additional interest expense related to the short-term debt used to finance the acquisition .these adjustments assume the application of fair value adjustments to intangibles and the debt issuance occurred on january 1 , 2015 and are approximated as follows : amortization expense of $ 125million and interest expense of $ 40million .in addition , significant nonrecurring adjustments include the elimination of a $ 72million pension curtailment loss , net of tax , recognized in 2015 and the elimination of a $ 58 million income tax charge related to historic earnings of foreign subsidiaries recognized by sikorsky in 2015 .the unaudited supplemental pro forma financial information also reflects an increase in interest expense , net of tax , of approximately $ 110 million in 2015 .the increase in interest expense is the result of assuming the november 2015 notes were issued on january 1 , 2015 .proceeds of the november 2015 notes were used to repay all outstanding borrowings under the 364- day facility used to finance a portion of the purchase price of sikorsky , as contemplated at the date of acquisition .the unaudited supplemental pro forma financial information does not reflect the realization of any expected ongoing cost or revenue synergies relating to the integration of the two companies .further , the pro forma data should not be considered indicative of the results that would have occurred if the acquisition , related financing and associated notes issuance and repayment of the 364-day facility had been consummated on january 1 , 2015 , nor are they indicative of future results .consolidation of awemanagement limited on august 24 , 2016 , we increased our ownership interest in the awe joint venture , which operates the united kingdom 2019s nuclear deterrent program , from 33% ( 33 % ) to 51% ( 51 % ) .at which time , we began consolidating awe .consequently , our operating results include 100% ( 100 % ) of awe 2019s sales and 51% ( 51 % ) of its operating profit .prior to increasing our ownership interest , we accounted for our investment inawe using the equity method of accounting .under the equity method , we recognized only 33% ( 33 % ) ofawe 2019s earnings or losses and no sales.accordingly , prior toaugust 24 , 2016 , the date we obtained control , we recorded 33%ofawe 2019s net earnings in our operating results and subsequent to august 24 , 2016 , we recognized 100% ( 100 % ) of awe 2019s sales and 51% ( 51 % ) of its operating profit .we accounted for this transaction as a 201cstep acquisition 201d ( as defined by u.s .gaap ) , which requires us to consolidate and record the assets and liabilities ofawe at fair value.accordingly , we recorded intangible assets of $ 243million related to customer relationships , $ 32 million of net liabilities , and noncontrolling interests of $ 107 million .the intangible assets are being amortized over a period of eight years in accordance with the underlying pattern of economic benefit reflected by the future net cash flows .in 2016we recognized a non-cash net gain of $ 104million associatedwith obtaining a controlling interest inawewhich consisted of a $ 127 million pretax gain recognized in the operating results of our space business segment and $ 23 million of tax-related items at our corporate office .the gain represents the fair value of our 51% ( 51 % ) interest inawe , less the carrying value of our previously held investment inawe and deferred taxes .the gainwas recorded in other income , net on our consolidated statements of earnings .the fair value ofawe ( including the intangible assets ) , our controlling interest , and the noncontrolling interests were determined using the income approach .divestiture of the information systems & global solutions business onaugust 16 , 2016wedivested our former is&gsbusinesswhichmergedwithleidos , in areversemorristrust transactionrr ( the 201ctransaction 201d ) .the transaction was completed in a multi-step process pursuant to which we initially contributed the is&gs business to abacus innovations corporation ( abacus ) , a wholly owned subsidiary of lockheed martin created to facilitate the transaction , and the common stock ofabacus was distributed to participating lockheedmartin stockholders through an exchange offer .under the terms of the exchange offer , lockheedmartin stockholders had the option to exchange shares of lockheedmartin common stock for shares of abacus common stock .at the conclusion of the exchange offer , all shares of abacus common stock were exchanged for 9369694 shares of lockheed martin common stock held by lockheed martin stockholders that elected to participate in the exchange.the shares of lockheedmartin common stock thatwere exchanged and acceptedwere retired , reducing the number of shares of our common stock outstanding by approximately 3% ( 3 % ) .following the exchange offer , abacus merged with .
|
what was the profit margin
|
7.8%
|
{
"answer": "7.8%",
"decimal": 0.078,
"type": "percentage"
}
| |
our operating cash flows are significantly impacted by the seasonality of our businesses .we typically generate most of our operating cash flow in the third and fourth quarters of each year .in june 2015 , we issued $ 900 million of senior notes in a registered public offering .the senior notes consist of two tranches : $ 400 million of five-year notes due 2020 with a coupon of 3% ( 3 % ) and $ 500 million of ten-year notes due 2025 with a coupon of 4% ( 4 % ) .we used the proceeds from the senior notes offering to pay down our revolving credit facility and for general corporate purposes .on december 31 , 2017 , the outstanding amount of the senior notes , net of underwriting commissions and price discounts , was $ 892.6 million .cash flows below is a summary of cash flows for the years ended december 31 , 2017 , 2016 and 2015 .( in millions ) 2017 2016 2015 .
[['( in millions )', '2017', '2016', '2015'], ['net cash provided by operating activities', '$ 600.3', '$ 650.5', '$ 429.2'], ['net cash used in investing activities', '-287.7 ( 287.7 )', '-385.1 ( 385.1 )', '-766.6 ( 766.6 )'], ['net cash ( used in ) provided by financing activities', '-250.1 ( 250.1 )', '-250.4 ( 250.4 )', '398.8'], ['effect of foreign exchange rate changes on cash', '9.0', '-2.0 ( 2.0 )', '-14.8 ( 14.8 )'], ['net increase in cash and cash equivalents', '$ 71.5', '$ 13.0', '$ 46.6']]
net cash provided by operating activities was $ 600.3 million in 2017 compared to $ 650.5 million in 2016 and $ 429.2 million in 2015 .the $ 50.2 million decrease in cash provided by operating activities from 2017 to 2016 was primarily due to higher build in working capital , primarily driven by higher inventory purchases in 2017 , partially offset by a higher net income .the $ 221.3 million increase in cash provided by operating activities from 2015 to 2016 was primarily due to a reduction in working capital in 2016 compared to 2015 and higher net income .net cash used in investing activities was $ 287.7 million in 2017 compared to $ 385.1 million in 2016 and $ 766.6 million in 2015 .the decrease of $ 97.4 million from 2016 to 2017 was primarily due lower cost of acquisitions of $ 115.1 million , partially offset by $ 15.7 million of higher capital expenditures .the decrease of $ 381.5 million from 2015 to 2016 was primarily due the decrease in cost of acquisitions of $ 413.1 million , partially offset by $ 20.8 million of higher capital spending .net cash used in financing activities was $ 250.1 million in 2017 compared to net cash used in financing activities of $ 250.4 million in 2016 and net cash provided by in financing activities of $ 398.8 million in 2015 .the change of $ 649.2 million in 2016 compared to 2015 was primarily due to $ 372.8 million of higher share repurchases and lower net borrowings of $ 240.8 million .pension plans subsidiaries of fortune brands sponsor their respective defined benefit pension plans that are funded by a portfolio of investments maintained within our benefit plan trust .in 2017 , 2016 and 2015 , we contributed $ 28.4 million , zero and $ 2.3 million , respectively , to qualified pension plans .in 2018 , we expect to make pension contributions of approximately $ 12.8 million .as of december 31 , 2017 , the fair value of our total pension plan assets was $ 656.6 million , representing funding of 79% ( 79 % ) of the accumulated benefit obligation liability .for the foreseeable future , we believe that we have sufficient liquidity to meet the minimum funding that may be required by the pension protection act of 2006 .foreign exchange we have operations in various foreign countries , principally canada , china , mexico , the united kingdom , france , australia and japan .therefore , changes in the value of the related currencies affect our financial statements when translated into u.s .dollars. .
|
\\nin june 2015 what was the percent of the five-year notes due 2020 with a coupon of 3% ( 3 % ) of senior notes in a registered public offering
|
44.4%
|
{
"answer": "44.4%",
"decimal": 0.444,
"type": "percentage"
}
| |
mondavi produces , markets and sells premium , super-premium and fine california wines under the woodbridge by robert mondavi , robert mondavi private selection and robert mondavi winery brand names .woodbridge and robert mondavi private selection are the leading premium and super-premium wine brands by volume , respectively , in the united states .the acquisition of robert mondavi supports the company 2019s strategy of strengthening the breadth of its portfolio across price segments to capitalize on the overall growth in the pre- mium , super-premium and fine wine categories .the company believes that the acquired robert mondavi brand names have strong brand recognition globally .the vast majority of robert mondavi 2019s sales are generated in the united states .the company intends to leverage the robert mondavi brands in the united states through its selling , marketing and distribution infrastructure .the company also intends to further expand distribution for the robert mondavi brands in europe through its constellation europe infrastructure .the company and robert mondavi have complementary busi- nesses that share a common growth orientation and operating philosophy .the robert mondavi acquisition provides the company with a greater presence in the fine wine sector within the united states and the ability to capitalize on the broader geographic distribution in strategic international markets .the robert mondavi acquisition supports the company 2019s strategy of growth and breadth across categories and geographies , and strengthens its competitive position in its core markets .in par- ticular , the company believes there are growth opportunities for premium , super-premium and fine wines in the united kingdom , united states and other wine markets .total consid- eration paid in cash to the robert mondavi shareholders was $ 1030.7 million .additionally , the company expects to incur direct acquisition costs of $ 11.2 million .the purchase price was financed with borrowings under the company 2019s 2004 credit agreement ( as defined in note 9 ) .in accordance with the pur- chase method of accounting , the acquired net assets are recorded at fair value at the date of acquisition .the purchase price was based primarily on the estimated future operating results of robert mondavi , including the factors described above , as well as an estimated benefit from operating cost synergies .the results of operations of the robert mondavi business are reported in the constellation wines segment and have been included in the consolidated statement of income since the acquisition date .the following table summarizes the estimated fair values of the assets acquired and liabilities assumed in the robert mondavi acquisition at the date of acquisition .the company is in the process of obtaining third-party valuations of certain assets and liabilities , and refining its restructuring plan which is under development and will be finalized during the company 2019s year ending february 28 , 2006 ( see note19 ) .accordingly , the allocation of the purchase price is subject to refinement .estimated fair values at december 22 , 2004 , are as follows : {in thousands} .
[['current assets', '$ 494788'], ['property plant and equipment', '452902'], ['other assets', '178823'], ['trademarks', '186000'], ['goodwill', '590459'], ['total assets acquired', '1902972'], ['current liabilities', '309051'], ['long-term liabilities', '552060'], ['total liabilities acquired', '861111'], ['net assets acquired', '$ 1041861']]
the trademarks are not subject to amortization .none of the goodwill is expected to be deductible for tax purposes .in connection with the robert mondavi acquisition and robert mondavi 2019s previously disclosed intention to sell certain of its winery properties and related assets , and other vineyard prop- erties , the company has classified certain assets as held for sale as of february 28 , 2005 .the company expects to sell these assets during the year ended february 28 , 2006 , for net pro- ceeds of approximately $ 150 million to $ 175 million .no gain or loss is expected to be recognized upon the sale of these assets .hardy acquisition 2013 on march 27 , 2003 , the company acquired control of brl hardy limited , now known as hardy wine company limited ( 201chardy 201d ) , and on april 9 , 2003 , the company completed its acquisition of all of hardy 2019s outstanding capital stock .as a result of the acquisition of hardy , the company also acquired the remaining 50% ( 50 % ) ownership of pacific wine partners llc ( 201cpwp 201d ) , the joint venture the company established with hardy in july 2001 .the acquisition of hardy along with the remaining interest in pwp is referred to together as the 201chardy acquisition . 201d through this acquisition , the company acquired one of australia 2019s largest wine producers with interests in winer- ies and vineyards in most of australia 2019s major wine regions as well as new zealand and the united states and hardy 2019s market- ing and sales operations in the united kingdom .total consideration paid in cash and class a common stock to the hardy shareholders was $ 1137.4 million .additionally , the company recorded direct acquisition costs of $ 17.2 million .the acquisition date for accounting purposes is march 27 , 2003 .the company has recorded a $ 1.6 million reduction in the purchase price to reflect imputed interest between the accounting acquisition date and the final payment of consider- ation .this charge is included as interest expense in the consolidated statement of income for the year ended february 29 , 2004 .the cash portion of the purchase price paid to the hardy shareholders and optionholders ( $ 1060.2 mil- lion ) was financed with $ 660.2 million of borrowings under the company 2019s then existing credit agreement and $ 400.0 million .
|
what percent of the hardy acquisition was paid in cash?
|
37.7%
|
{
"answer": "37.7%",
"decimal": 0.377,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 7 .derivative financial instruments under the terms of the credit facility , the company is required to enter into interest rate protection agreements on at least 50% ( 50 % ) of its variable rate debt .under these agreements , the company is exposed to credit risk to the extent that a counterparty fails to meet the terms of a contract .such exposure is limited to the current value of the contract at the time the counterparty fails to perform .the company believes its contracts as of december 31 , 2004 are with credit worthy institutions .as of december 31 , 2004 , the company had two interest rate caps outstanding with an aggregate notional amount of $ 350.0 million ( each at an interest rate of 6.0% ( 6.0 % ) ) that expire in 2006 .as of december 31 , 2003 , the company had three interest rate caps outstanding with an aggregate notional amount of $ 500.0 million ( each at a rate of 5.0% ( 5.0 % ) ) that expired in 2004 .as of december 31 , 2004 and 2003 , there was no fair value associated with any of these interest rate caps .during the year ended december 31 , 2003 , the company recorded an unrealized loss of approximately $ 0.3 million ( net of a tax benefit of approximately $ 0.2 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 5.9 million ( net of a tax benefit of approximately $ 3.2 million ) into results of operations .during the year ended december 31 , 2002 , the company recorded an unrealized loss of approximately $ 9.1 million ( net of a tax benefit of approximately $ 4.9 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 19.5 million ( net of a tax benefit of approximately $ 10.5 million ) into results of operations .hedge ineffectiveness resulted in a gain of approximately $ 1.0 million for the year ended december 31 , 2002 , which is recorded in other expense in the accompanying consolidated statement of operations .the company records the changes in fair value of its derivative instruments that are not accounted for as hedges in other expense .the company did not reclassify any derivative losses into its statement of operations for the year ended december 31 , 2004 and does not anticipate reclassifying any derivative losses into its statement of operations within the next twelve months , as there are no amounts included in other comprehensive loss as of december 31 , 2004 .8 .commitments and contingencies lease obligations 2014the company leases certain land , office and tower space under operating leases that expire over various terms .many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option .escalation clauses present in operating leases , excluding those tied to cpi or other inflation-based indices , are straight-lined over the term of the lease .( see note 1. ) future minimum rental payments under non-cancelable operating leases include payments for certain renewal periods at the company 2019s option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases , thereby making it reasonably assured that the company will renew the lease .such payments in effect at december 31 , 2004 are as follows ( in thousands ) : year ending december 31 .
[['2005', '$ 106116'], ['2006', '106319'], ['2007', '106095'], ['2008', '106191'], ['2009', '106214'], ['thereafter', '1570111'], ['total', '$ 2101046']]
aggregate rent expense ( including the effect of straight-line rent expense ) under operating leases for the years ended december 31 , 2004 , 2003 and 2002 approximated $ 118741000 , $ 113956000 , and $ 109644000 , respectively. .
|
what was the average rental expense between 2002 and 2004
|
114113666.667
|
{
"answer": "114113666.667",
"decimal": 114113666.667,
"type": "float"
}
| |
federal realty investment trust schedule iii summary of real estate and accumulated depreciation 2014continued three years ended december 31 , 2007 reconciliation of accumulated depreciation and amortization ( in thousands ) .
[['balance december 31 2004', '$ 595338'], ['additions during period 2014depreciation and amortization expense', '83656'], ['deductions during period 2014disposition and retirements of property', '-15244 ( 15244 )'], ['balance december 31 2005', '$ 663750'], ['additions during period 2014depreciation and amortization expense', '89564'], ['deductions during period 2014disposition and retirements of property', '-12807 ( 12807 )'], ['balance december 31 2006', '$ 740507'], ['additions during period 2014depreciation and amortization expense', '96454'], ['deductions during period 2014disposition and retirements of property', '-80258 ( 80258 )'], ['balance december 31 2007', '$ 756703']]
.
|
what is the variation of the additions during 2005 and 2006 , in thousands of dollars?
|
5908
|
{
"answer": "5908",
"decimal": 5908,
"type": "float"
}
|
it is the difference between those addition values .
|
performance share awards the vesting of psas is contingent upon meeting various individual , divisional or company-wide performance conditions , including revenue generation or growth in revenue , pretax income or earnings per share over a one- to five-year period .the performance conditions are not considered in the determination of the grant date fair value for these awards .the fair value of psas is based upon the market price of the aon common stock at the date of grant .compensation expense is recognized over the performance period , and in certain cases an additional vesting period , based on management 2019s estimate of the number of units expected to vest .compensation expense is adjusted to reflect the actual number of shares issued at the end of the programs .the actual issuance of shares may range from 0-200% ( 0-200 % ) of the target number of psas granted , based on the plan .dividend equivalents are not paid on psas .information regarding psas granted during the years ended december 31 , 2011 , 2010 and 2009 follows ( shares in thousands , dollars in millions , except fair value ) : .
[['', '2011', '2010', '2009'], ['target psus granted', '1715', '1390', '3754'], ['fair value ( 1 )', '$ 50', '$ 39', '$ 38'], ['number of shares that would be issued based on current performance levels', '1772', '1397', '2300'], ['unamortized expense based on current performance levels', '$ 60', '$ 18', '$ 4']]
( 1 ) represents per share weighted average fair value of award at date of grant .during 2011 , the company issued approximately 1.2 million shares in connection with the 2008 leadership performance plan ( 2018 2018lpp 2019 2019 ) cycle and 0.3 million shares related to a 2006 performance plan .during 2010 , the company issued approximately 1.6 million shares in connection with the completion of the 2007 lpp cycle and 84000 shares related to other performance plans .stock options options to purchase common stock are granted to certain employees at fair value on the date of grant .commencing in 2010 , the company ceased granting new stock options with the exception of historical contractual commitments .generally , employees are required to complete two continuous years of service before the options begin to vest in increments until the completion of a 4-year period of continuous employment , although a number of options were granted that require five continuous years of service before the options are fully vested .options issued under the lpp program vest ratable over 3 years with a six year term .the maximum contractual term on stock options is generally ten years from the date of grant .aon uses a lattice-binomial option-pricing model to value stock options .lattice-based option valuation models use a range of assumptions over the expected term of the options .expected volatilities are based on the average of the historical volatility of aon 2019s stock price and the implied volatility of traded options and aon 2019s stock .the valuation model stratifies employees between those receiving lpp options , special stock plan ( 2018 2018ssp 2019 2019 ) options , and all other option grants .the company believes that this stratification better represents prospective stock option exercise patterns .the expected dividend yield assumption is based on the company 2019s historical and expected future dividend rate .the risk-free rate for periods within the contractual life of the option is based on the u.s .treasury yield curve in effect at the time of grant .the expected life of employee stock options represents the weighted-average period stock options are expected to remain outstanding and is a derived output of the lattice-binomial model. .
|
what was the ratio of the shares in connection with the 2008 leadership performance plan ( 2018 2018lpp 2019 2019 ) cycle to the 2006 performance plan issued in 2011
|
4
|
{
"answer": "4",
"decimal": 4,
"type": "float"
}
|
in 2011 the company issued 4 shares in connection with the 2008 leadership performance plan ( 2018 2018lpp 2019 2019 ) cycle to the per share of the 2006 performance plan
|
jpmorgan chase & co./2017 annual report 115 impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality .many factors may influence the nature and magnitude of these correlations over time .to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg .the firm risk manages exposure to changes in cva by entering into credit derivative transactions , as well as interest rate , foreign exchange , equity and commodity derivative transactions .the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the peak , dre and avg metrics .the three measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio .exposure profile of derivatives measures december 31 , 2017 ( in billions ) the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of all collateral , at the dates indicated .the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as assigned by s&p and moody 2019s .ratings profile of derivative receivables .
[['rating equivalent december 31 ( in millions except ratios )', 'rating equivalent exposure net of all collateral', 'rating equivalent % ( % ) of exposure netof all collateral', 'exposure net of all collateral', '% ( % ) of exposure netof all collateral'], ['aaa/aaa to aa-/aa3', '$ 11529', '29% ( 29 % )', '$ 11449', '28% ( 28 % )'], ['a+/a1 to a-/a3', '6919', '17', '8505', '20'], ['bbb+/baa1 to bbb-/baa3', '13925', '34', '13127', '32'], ['bb+/ba1 to b-/b3', '7397', '18', '7308', '18'], ['ccc+/caa1 and below', '645', '2', '984', '2'], ['total', '$ 40415', '100% ( 100 % )', '$ 41373', '100% ( 100 % )']]
as previously noted , the firm uses collateral agreements to mitigate counterparty credit risk .the percentage of the firm 2019s over-the-counter derivatives transactions subject to collateral agreements 2014 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity and centrally cleared trades that are settled daily 2014 was approximately 90% ( 90 % ) as of december 31 , 2017 , largely unchanged compared with december 31 , 2016 .credit derivatives the firm uses credit derivatives for two primary purposes : first , in its capacity as a market-maker , and second , as an end-user to manage the firm 2019s own credit risk associated with various exposures .for a detailed description of credit derivatives , see credit derivatives in note 5 .credit portfolio management activities included in the firm 2019s end-user activities are credit derivatives used to mitigate the credit risk associated with traditional lending activities ( loans and unfunded commitments ) and derivatives counterparty exposure in the firm 2019s wholesale businesses ( collectively , 201ccredit portfolio management 201d activities ) .information on credit portfolio management activities is provided in the table below .for further information on derivatives used in credit portfolio management activities , see credit derivatives in note 5 .the firm also uses credit derivatives as an end-user to manage other exposures , including credit risk arising from certain securities held in the firm 2019s market-making businesses .these credit derivatives are not included in credit portfolio management activities ; for further information on these credit derivatives as well as credit derivatives used in the firm 2019s capacity as a market-maker in credit derivatives , see credit derivatives in note 5 .10 years5 years2 years1 year .
|
in 2017 what was the percent of the total exposure net of all collateral that was a+/a1 to a-/a3
|
17.1%
|
{
"answer": "17.1%",
"decimal": 0.171,
"type": "percentage"
}
| |
item 2 : properties information concerning applied 2019s properties is set forth below: .
[['( square feet in thousands )', 'united states', 'other countries', 'total'], ['owned', '4530', '2417', '6947'], ['leased', '1037', '1341', '2378'], ['total', '5567', '3758', '9325']]
because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .the company 2019s headquarters offices are in santa clara , california .products in semiconductor systems are manufactured in santa clara , california ; austin , texas ; gloucester , massachusetts ; kalispell , montana ; rehovot , israel ; and singapore .remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .products in the display and adjacent markets segment are manufactured in alzenau , germany and tainan , taiwan .other products are manufactured in treviso , italy .applied also owns and leases offices , plants and warehouse locations in many locations throughout the world , including in europe , japan , north america ( principally the united states ) , israel , china , india , korea , southeast asia and taiwan .these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and customer support .applied also owns a total of approximately 269 acres of buildable land in montana , texas , california , israel and italy that could accommodate additional building space .applied considers the properties that it owns or leases as adequate to meet its current and future requirements .applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
|
what portion of total company used area is company owned?
|
74.5%
|
{
"answer": "74.5%",
"decimal": 0.745,
"type": "percentage"
}
| |
notes to consolidated financial statements sumitomo mitsui financial group , inc .( smfg ) provides the firm with credit loss protection on certain approved loan commitments ( primarily investment-grade commercial lending commitments ) .the notional amount of such loan commitments was $ 32.41 billion and $ 31.94 billion as of december 2012 and december 2011 , respectively .the credit loss protection on loan commitments provided by smfg is generally limited to 95% ( 95 % ) of the first loss the firm realizes on such commitments , up to a maximum of approximately $ 950 million .in addition , subject to the satisfaction of certain conditions , upon the firm 2019s request , smfg will provide protection for 70% ( 70 % ) of additional losses on such commitments , up to a maximum of $ 1.13 billion , of which $ 300 million of protection had been provided as of both december 2012 and december 2011 .the firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by smfg .these instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity or credit default swaps that reference a market index .warehouse financing .the firm provides financing to clients who warehouse financial assets .these arrangements are secured by the warehoused assets , primarily consisting of commercial mortgage loans .contingent and forward starting resale and securities borrowing agreements/forward starting repurchase and secured lending agreements the firm enters into resale and securities borrowing agreements and repurchase and secured lending agreements that settle at a future date .the firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements .the firm 2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused .investment commitments the firm 2019s investment commitments consist of commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages .these commitments include $ 872 million and $ 1.62 billion as of december 2012 and december 2011 , respectively , related to real estate private investments and $ 6.47 billion and $ 7.50 billion as of december 2012 and december 2011 , respectively , related to corporate and other private investments .of these amounts , $ 6.21 billion and $ 8.38 billion as of december 2012 and december 2011 , respectively , relate to commitments to invest in funds managed by the firm , which will be funded at market value on the date of investment .leases the firm has contractual obligations under long-term noncancelable lease agreements , principally for office space , expiring on various dates through 2069 .certain agreements are subject to periodic escalation provisions for increases in real estate taxes and other charges .the table below presents future minimum rental payments , net of minimum sublease rentals .in millions december 2012 .
[['in millions', 'as of december 2012'], ['2013', '$ 439'], ['2014', '407'], ['2015', '345'], ['2016', '317'], ['2017', '306'], ['2018 - thereafter', '1375'], ['total', '$ 3189']]
rent charged to operating expense for the years ended december 2012 , december 2011 and december 2010 was $ 374 million , $ 475 million and $ 508 million , respectively .operating leases include office space held in excess of current requirements .rent expense relating to space held for growth is included in 201coccupancy . 201d the firm records a liability , based on the fair value of the remaining lease rentals reduced by any potential or existing sublease rentals , for leases where the firm has ceased using the space and management has concluded that the firm will not derive any future economic benefits .costs to terminate a lease before the end of its term are recognized and measured at fair value on termination .goldman sachs 2012 annual report 175 .
|
what percentage of future minimum rental payments is due after 2017?
|
43%
|
{
"answer": "43%",
"decimal": 0.43,
"type": "percentage"
}
| |
management 2019s discussion and analysis jpmorgan chase & co./2009 annual report 130 the following histogram illustrates the daily market risk 2013related gains and losses for ib and consumer/cio positions for 2009 .the chart shows that the firm posted market risk 2013related gains on 227 out of 261 days in this period , with 69 days exceeding $ 160 million .the inset graph looks at those days on which the firm experienced losses and depicts the amount by which the 95% ( 95 % ) confidence level var exceeded the actual loss on each of those days .losses were sustained on 34 days during 2009 and exceeded the var measure on one day due to high market volatility in the first quarter of 2009 .under the 95% ( 95 % ) confidence interval , the firm would expect to incur daily losses greater than that pre- dicted by var estimates about twelve times a year .the following table provides information about the gross sensitivity of dva to a one-basis-point increase in jpmorgan chase 2019s credit spreads .this sensitivity represents the impact from a one-basis-point parallel shift in jpmorgan chase 2019s entire credit curve .as credit curves do not typically move in a parallel fashion , the sensitivity multiplied by the change in spreads at a single maturity point may not be representative of the actual revenue recognized .debit valuation adjustment sensitivity 1 basis point increase in ( in millions ) jpmorgan chase credit spread .
[['( in millions )', '1 basis point increase in jpmorgan chase credit spread'], ['december 31 2009', '$ 39'], ['december 31 2008', '$ 37']]
loss advisories and drawdowns loss advisories and drawdowns are tools used to highlight to senior management trading losses above certain levels and initiate discus- sion of remedies .economic value stress testing while var reflects the risk of loss due to adverse changes in normal markets , stress testing captures the firm 2019s exposure to unlikely but plausible events in abnormal markets .the firm conducts economic- value stress tests using multiple scenarios that assume credit spreads widen significantly , equity prices decline and significant changes in interest rates across the major currencies .other scenar- ios focus on the risks predominant in individual business segments and include scenarios that focus on the potential for adverse movements in complex portfolios .scenarios were updated more frequently in 2009 and , in some cases , redefined to reflect the signifi- cant market volatility which began in late 2008 .along with var , stress testing is important in measuring and controlling risk .stress testing enhances the understanding of the firm 2019s risk profile and loss potential , and stress losses are monitored against limits .stress testing is also utilized in one-off approvals and cross-business risk measurement , as well as an input to economic capital allocation .stress-test results , trends and explanations based on current market risk positions are reported to the firm 2019s senior management and to the lines of business to help them better measure and manage risks and to understand event risk 2013sensitive positions. .
|
what is the increase observed in the credit spread between 2008 and 2009 , in millions of dollars?
|
2
|
{
"answer": "2",
"decimal": 2,
"type": "float"
}
|
its the difference between the 2008's credit spread and the 2009's credit spread .
|
2016 vs .2015 sales of $ 498.8 increased $ 212.1 , or 74% ( 74 % ) .the increase in sales was driven by the jazan project which more than offset the decrease in small equipment and other air separation unit sales .in 2016 , we recognized approximately $ 300 of sales related to the jazan project .operating loss of $ 21.3 decreased 59% ( 59 % ) , or $ 30.3 , primarily from income on the jazan project and benefits from cost reduction actions , partially offset by lower other sale of equipment project activity and a gain associated with the cancellation of a sale of equipment contract that was recorded in fiscal year 2015 .corporate and other the corporate and other segment includes two ongoing global businesses ( our lng equipment business and our liquid helium and liquid hydrogen transport and storage container businesses ) , and corporate support functions that benefit all the segments .corporate and other also includes income and expense that is not directly associated with the business segments , including foreign exchange gains and losses and stranded costs .stranded costs result from functional support previously provided to the two divisions comprising the former materials technologies segment .the majority of these costs are reimbursed to air products pursuant to short-term transition services agreements under which air products provides transition services to versum for emd and to evonik for pmd .the reimbursement for costs in support of the transition services has been reflected on the consolidated income statements within "other income ( expense ) , net." .
[['', '2017', '2016', '2015'], ['sales', '$ 82.6', '$ 236.0', '$ 315.4'], ['operating loss', '-170.6 ( 170.6 )', '-87.6 ( 87.6 )', '-86.5 ( 86.5 )'], ['adjusted ebitda', '-158.4 ( 158.4 )', '-68.1 ( 68.1 )', '-66.2 ( 66.2 )']]
2017 vs .2016 sales of $ 82.6 decreased $ 153.4 , primarily due to lower lng project activity .we expect continued weakness in new lng project orders due to continued oversupply of lng in the market .operating loss of $ 170.6 increased $ 83.0 due to lower lng activity , partially offset by productivity improvements and income from transition service agreements with versum and evonik .2016 vs .2015 sales of $ 236.0 decreased $ 79.4 , or 25% ( 25 % ) , primarily due to lower lng sale of equipment activity .operating loss of $ 87.6 increased 1% ( 1 % ) , or $ 1.1 , due to lower lng activity , mostly offset by benefits from our recent cost reduction actions and lower foreign exchange losses .reconciliation of non-gaap financial measures ( millions of dollars unless otherwise indicated , except for per share data ) the company has presented certain financial measures on a non-gaap ( 201cadjusted 201d ) basis and has provided a reconciliation to the most directly comparable financial measure calculated in accordance with gaap .these financial measures are not meant to be considered in isolation or as a substitute for the most directly comparable financial measure calculated in accordance with gaap .the company believes these non-gaap measures provide investors , potential investors , securities analysts , and others with useful supplemental information to evaluate the performance of the business because such measures , when viewed together with our financial results computed in accordance with gaap , provide a more complete understanding of the factors and trends affecting our historical financial performance and projected future results .in many cases , our non-gaap measures are determined by adjusting the most directly comparable gaap financial measure to exclude certain disclosed items ( 201cnon-gaap adjustments 201d ) that we believe are not representative of the underlying business performance .for example , air products has executed its strategic plan to restructure the company to focus on its core industrial gases business .this resulted in significant cost reduction and asset actions that we believe are important for investors to understand separately from the performance of the underlying business .the reader should be aware that we may incur similar expenses in the future .the tax impact of our non- gaap adjustments reflects the expected current and deferred income tax expense impact of the transactions and is impacted primarily by the statutory tax rate of the various relevant jurisdictions and the taxability of the adjustments in those jurisdictions .investors should also consider the limitations associated with these non-gaap measures , including the potential lack of comparability of these measures from one company to another. .
|
considering the years 2015-2017 , what is the average operating loss?
|
114.9
|
{
"answer": "114.9",
"decimal": 114.9,
"type": "float"
}
|
it is the sum of all operating loss divided by three ( the sum of the years ) .
|
notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d .1 .nature of operations operations and segmentation 2013 we are a class i railroad that operates in the united states .we have 32094 route miles , linking pacific coast and gulf coast ports with the midwest and eastern united states gateways and providing several corridors to key mexican gateways .we serve the western two- thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .although revenues are analyzed by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network .the following table provides revenue by commodity group : millions of dollars 2009 2008 2007 .
[['millions of dollars', '2009', '2008', '2007'], ['agricultural', '$ 2666', '$ 3174', '$ 2605'], ['automotive', '854', '1344', '1458'], ['chemicals', '2102', '2494', '2287'], ['energy', '3118', '3810', '3134'], ['industrial products', '2147', '3273', '3077'], ['intermodal', '2486', '3023', '2925'], ['total freight revenues', '$ 13373', '$ 17118', '$ 15486'], ['other revenues', '770', '852', '797'], ['total operating revenues', '$ 14143', '$ 17970', '$ 16283']]
although our revenues are principally derived from customers domiciled in the united states , the ultimate points of origination or destination for some products transported are outside the united states .basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the united states of america ( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .subsequent events evaluation 2013 we evaluated the effects of all subsequent events through february 5 , 2010 , the date of this report , which is concurrent with the date we file this report with the u.s .securities and exchange commission ( sec ) .2 .significant accounting policies change in accounting principle 2013 we have historically accounted for rail grinding costs as a capital asset .beginning in the first quarter of 2010 , we will change our accounting policy for rail grinding costs .
|
for the three year period what were cumulative operating revenues?
|
48366000000
|
{
"answer": "48366000000",
"decimal": 48366000000,
"type": "float"
}
| |
35% ( 35 % ) due primarily to certain undistributed foreign earnings for which no u.s .taxes are provided because such earnings are intended to be indefinitely reinvested outside the u.s .as of september 24 , 2011 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 3.2 billion , and deferred tax liabilities of $ 9.2 billion .management believes it is more likely than not that forecasted income , including income that may be generated as a result of certain tax planning strategies , together with future reversals of existing taxable temporary differences , will be sufficient to fully recover the deferred tax assets .the company will continue to evaluate the realizability of deferred tax assets quarterly by assessing the need for and amount of a valuation allowance .the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments .the company has contested certain of these adjustments through the irs appeals office .the irs is currently examining the years 2007 through 2009 .all irs audit issues for years prior to 2004 have been resolved .in addition , the company is subject to audits by state , local , and foreign tax authorities .management believes that adequate provisions have been made for any adjustments that may result from tax examinations .however , the outcome of tax audits cannot be predicted with certainty .if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income taxes in the period such resolution occurs .liquidity and capital resources the following table presents selected financial information and statistics as of and for the three years ended september 24 , 2011 ( in millions ) : .
[['', '2011', '2010', '2009'], ['cash cash equivalents and marketable securities', '$ 81570', '$ 51011', '$ 33992'], ['accounts receivable net', '$ 5369', '$ 5510', '$ 3361'], ['inventories', '$ 776', '$ 1051', '$ 455'], ['working capital', '$ 17018', '$ 20956', '$ 20049'], ['annual operating cash flow', '$ 37529', '$ 18595', '$ 10159']]
cash , cash equivalents and marketable securities increased $ 30.6 billion or 60% ( 60 % ) during 2011 .the principal components of this net increase was the cash generated by operating activities of $ 37.5 billion , which was partially offset by payments for acquisition of property , plant and equipment of $ 4.3 billion , payments for acquisition of intangible assets of $ 3.2 billion and payments made in connection with business acquisitions , net of cash acquired , of $ 244 million .the company believes its existing balances of cash , cash equivalents and marketable securities will be sufficient to satisfy its working capital needs , capital asset purchases , outstanding commitments and other liquidity requirements associated with its existing operations over the next 12 months .the company 2019s marketable securities investment portfolio is invested primarily in highly rated securities and its policy generally limits the amount of credit exposure to any one issuer .the company 2019s investment policy requires investments to generally be investment grade with the objective of minimizing the potential risk of principal loss .as of september 24 , 2011 and september 25 , 2010 , $ 54.3 billion and $ 30.8 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s .dollar-denominated holdings .amounts held by foreign subsidiaries are generally subject to u.s .income taxation on repatriation to the u.s .capital assets the company 2019s capital expenditures were $ 4.6 billion during 2011 , consisting of approximately $ 614 million for retail store facilities and $ 4.0 billion for other capital expenditures , including product tooling and manufacturing .
|
inventories were what percent of working capital for 2009?
|
2.3
|
{
"answer": "2.3",
"decimal": 2.3,
"type": "float"
}
| |
the goldman sachs group , inc .and subsidiaries notes to consolidated financial statements the table below presents a summary of level 3 financial assets. .
[['$ in millions', 'as of december 2018', 'as of december 2017'], ['cash instruments', '$ 17227', '$ 15395'], ['derivatives', '4948', '3802'], ['other financial assets', '6', '4'], ['total', '$ 22181', '$ 19201']]
level 3 financial assets as of december 2018 increased compared with december 2017 , primarily reflecting an increase in level 3 cash instruments .see notes 6 through 8 for further information about level 3 financial assets ( including information about unrealized gains and losses related to level 3 financial assets and financial liabilities , and transfers in and out of level 3 ) .note 6 .cash instruments cash instruments include u.s .government and agency obligations , non-u.s .government and agency obligations , mortgage-backed loans and securities , corporate debt instruments , equity securities , investments in funds at nav , and other non-derivative financial instruments owned and financial instruments sold , but not yet purchased .see below for the types of cash instruments included in each level of the fair value hierarchy and the valuation techniques and significant inputs used to determine their fair values .see note 5 for an overview of the firm 2019s fair value measurement policies .level 1 cash instruments level 1 cash instruments include certain money market instruments , u.s .government obligations , most non-u.s .government obligations , certain government agency obligations , certain corporate debt instruments and actively traded listed equities .these instruments are valued using quoted prices for identical unrestricted instruments in active markets .the firm defines active markets for equity instruments based on the average daily trading volume both in absolute terms and relative to the market capitalization for the instrument .the firm defines active markets for debt instruments based on both the average daily trading volume and the number of days with trading activity .level 2 cash instruments level 2 cash instruments include most money market instruments , most government agency obligations , certain non-u.s .government obligations , most mortgage-backed loans and securities , most corporate debt instruments , most state and municipal obligations , most other debt obligations , restricted or less liquid listed equities , commodities and certain lending commitments .valuations of level 2 cash instruments can be verified to quoted prices , recent trading activity for identical or similar instruments , broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency .consideration is given to the nature of the quotations ( e.g. , indicative or firm ) and the relationship of recent market activity to the prices provided from alternative pricing sources .valuation adjustments are typically made to level 2 cash instruments ( i ) if the cash instrument is subject to transfer restrictions and/or ( ii ) for other premiums and liquidity discounts that a market participant would require to arrive at fair value .valuation adjustments are generally based on market evidence .level 3 cash instruments level 3 cash instruments have one or more significant valuation inputs that are not observable .absent evidence to the contrary , level 3 cash instruments are initially valued at transaction price , which is considered to be the best initial estimate of fair value .subsequently , the firm uses other methodologies to determine fair value , which vary based on the type of instrument .valuation inputs and assumptions are changed when corroborated by substantive observable evidence , including values realized on sales .valuation techniques and significant inputs of level 3 cash instruments valuation techniques of level 3 cash instruments vary by instrument , but are generally based on discounted cash flow techniques .the valuation techniques and the nature of significant inputs used to determine the fair values of each type of level 3 cash instrument are described below : loans and securities backed by commercial real estate .loans and securities backed by commercial real estate are directly or indirectly collateralized by a single commercial real estate property or a portfolio of properties , and may include tranches of varying levels of subordination .significant inputs are generally determined based on relative value analyses and include : 2030 market yields implied by transactions of similar or related assets and/or current levels and changes in market indices such as the cmbx ( an index that tracks the performance of commercial mortgage bonds ) ; 118 goldman sachs 2018 form 10-k .
|
what is the percentage change in cash instruments from 2017 to 2018?
|
11.9%
|
{
"answer": "11.9%",
"decimal": 0.11900000000000001,
"type": "percentage"
}
| |
management 2019s discussion and analysis of financial condition and results of operations ( continued ) the npr is generally consistent with the basel committee 2019s lcr .however , it includes certain more stringent requirements , including an accelerated implementation time line and modifications to the definition of high-quality liquid assets and expected outflow assumptions .we continue to analyze the proposed rules and analyze their impact as well as develop strategies for compliance .the principles of the lcr are consistent with our liquidity management framework ; however , the specific calibrations of various elements within the final lcr rule , such as the eligibility of assets as hqla , operational deposit requirements and net outflow requirements could have a material effect on our liquidity , funding and business activities , including the management and composition of our investment securities portfolio and our ability to extend committed contingent credit facilities to our clients .in january 2014 , the basel committee released a revised proposal with respect to the net stable funding ratio , or nsfr , which will establish a one-year liquidity standard representing the proportion of long-term assets funded by long-term stable funding , scheduled for global implementation in 2018 .the revised nsfr has made some favorable changes regarding the treatment of operationally linked deposits and a reduction in the funding required for certain securities .however , we continue to review the specifics of the basel committee's release and will be evaluating the u.s .implementation of this standard to analyze the impact and develop strategies for compliance .u.s .banking regulators have not yet issued a proposal to implement the nsfr .contractual cash obligations and other commitments the following table presents our long-term contractual cash obligations , in total and by period due as of december 31 , 2013 .these obligations were recorded in our consolidated statement of condition as of that date , except for operating leases and the interest portions of long-term debt and capital leases .contractual cash obligations .
[['as of december 31 2013 ( in millions )', 'payments due by period total', 'payments due by period less than 1year', 'payments due by period 1-3years', 'payments due by period 4-5years', 'payments due by period over 5years'], ['long-term debt ( 1 )', '$ 10630', '$ 1015', '$ 2979', '$ 2260', '$ 4376'], ['operating leases', '923', '208', '286', '209', '220'], ['capital lease obligations', '1051', '99', '185', '169', '598'], ['total contractual cash obligations', '$ 12604', '$ 1322', '$ 3450', '$ 2638', '$ 5194']]
( 1 ) long-term debt excludes capital lease obligations ( presented as a separate line item ) and the effect of interest-rate swaps .interest payments were calculated at the stated rate with the exception of floating-rate debt , for which payments were calculated using the indexed rate in effect as of december 31 , 2013 .the table above does not include obligations which will be settled in cash , primarily in less than one year , such as client deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings .additional information about deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings is provided in notes 8 and 9 to the consolidated financial statements included under item 8 of this form 10-k .the table does not include obligations related to derivative instruments because the derivative-related amounts recorded in our consolidated statement of condition as of december 31 , 2013 did not represent the amounts that may ultimately be paid under the contracts upon settlement .additional information about our derivative instruments is provided in note 16 to the consolidated financial statements included under item 8 of this form 10-k .we have obligations under pension and other post-retirement benefit plans , more fully described in note 19 to the consolidated financial statements included under item 8 of this form 10-k , which are not included in the above table .additional information about contractual cash obligations related to long-term debt and operating and capital leases is provided in notes 10 and 20 to the consolidated financial statements included under item 8 of this form 10-k .our consolidated statement of cash flows , also included under item 8 of this form 10-k , provides additional liquidity information .the following table presents our commitments , other than the contractual cash obligations presented above , in total and by duration as of december 31 , 2013 .these commitments were not recorded in our consolidated statement of condition as of that date. .
|
what portion of the total contractual lease obligations are classified as capital leases?
|
53.2%
|
{
"answer": "53.2%",
"decimal": 0.532,
"type": "percentage"
}
| |
jpmorgan chase & co ./ 2008 annual report 175jpmorgan chase & co ./ 2008 annual report 175jpmorgan chase & co ./ 2008 annual report 175jpmorgan chase & co ./ 2008 annual report 175jpmorgan chase & co ./ 2008 annual report 175 securities borrowed and securities lent are recorded at the amount of cash collateral advanced or received .securities borrowed consist primarily of government and equity securities .jpmorgan chase moni- tors the market value of the securities borrowed and lent on a daily basis and calls for additional collateral when appropriate .fees received or paid in connection with securities borrowed and lent are recorded in interest income or interest expense .the following table details the components of collateralized financings. .
[['december 31 ( in millions )', '2008', '2007'], ['securities purchased under resale agreements ( a )', '$ 200265', '$ 169305'], ['securities borrowed ( b )', '124000', '84184'], ['securities sold under repurchase agreements ( c )', '$ 174456', '$ 126098'], ['securities loaned', '6077', '10922']]
( a ) includes resale agreements of $ 20.8 billion and $ 19.1 billion accounted for at fair value at december 31 , 2008 and 2007 , respectively .( b ) includes securities borrowed of $ 3.4 billion accounted for at fair value at december 31 , 2008 .( c ) includes repurchase agreements of $ 3.0 billion and $ 5.8 billion accounted for at fair value at december 31 , 2008 and 2007 , respectively .jpmorgan chase pledges certain financial instruments it owns to col- lateralize repurchase agreements and other securities financings .pledged securities that can be sold or repledged by the secured party are identified as financial instruments owned ( pledged to various parties ) on the consolidated balance sheets .at december 31 , 2008 , the firm received securities as collateral that could be repledged , delivered or otherwise used with a fair value of approximately $ 511.9 billion .this collateral was generally obtained under resale or securities borrowing agreements .of these securities , approximately $ 456.6 billion were repledged , delivered or otherwise used , generally as collateral under repurchase agreements , securities lending agreements or to cover short sales .note 14 2013 loans the accounting for a loan may differ based upon whether it is origi- nated or purchased and as to whether the loan is used in an invest- ing or trading strategy .for purchased loans held-for-investment , the accounting also differs depending on whether a loan is credit- impaired at the date of acquisition .purchased loans with evidence of credit deterioration since the origination date and for which it is probable , at acquisition , that all contractually required payments receivable will not be collected are considered to be credit-impaired .the measurement framework for loans in the consolidated financial statements is one of the following : 2022 at the principal amount outstanding , net of the allowance for loan losses , unearned income and any net deferred loan fees or costs , for loans held for investment ( other than purchased credit- impaired loans ) ; 2022 at the lower of cost or fair value , with valuation changes record- ed in noninterest revenue , for loans that are classified as held- for-sale ; or 2022 at fair value , with changes in fair value recorded in noninterest revenue , for loans classified as trading assets or risk managed on a fair value basis ; 2022 purchased credit-impaired loans held for investment are account- ed for under sop 03-3 and initially measured at fair value , which includes estimated future credit losses .accordingly , an allowance for loan losses related to these loans is not recorded at the acquisition date .see note 5 on pages 156 2013158 of this annual report for further information on the firm 2019s elections of fair value accounting under sfas 159 .see note 6 on pages 158 2013160 of this annual report for further information on loans carried at fair value and classified as trading assets .for loans held for investment , other than purchased credit-impaired loans , interest income is recognized using the interest method or on a basis approximating a level rate of return over the term of the loan .loans within the held-for-investment portfolio that management decides to sell are transferred to the held-for-sale portfolio .transfers to held-for-sale are recorded at the lower of cost or fair value on the date of transfer .credit-related losses are charged off to the allowance for loan losses and losses due to changes in interest rates , or exchange rates , are recognized in noninterest revenue .loans within the held-for-sale portfolio that management decides to retain are transferred to the held-for-investment portfolio at the lower of cost or fair value .these loans are subsequently assessed for impairment based on the firm 2019s allowance methodology .for a fur- ther discussion of the methodologies used in establishing the firm 2019s allowance for loan losses , see note 15 on pages 178 2013180 of this annual report .nonaccrual loans are those on which the accrual of interest is dis- continued .loans ( other than certain consumer and purchased credit- impaired loans discussed below ) are placed on nonaccrual status immediately if , in the opinion of management , full payment of princi- pal or interest is in doubt , or when principal or interest is 90 days or more past due and collateral , if any , is insufficient to cover principal and interest .loans are charged off to the allowance for loan losses when it is highly certain that a loss has been realized .interest accrued but not collected at the date a loan is placed on nonaccrual status is reversed against interest income .in addition , the amortiza- tion of net deferred loan fees is suspended .interest income on nonaccrual loans is recognized only to the extent it is received in cash .however , where there is doubt regarding the ultimate col- lectibility of loan principal , all cash thereafter received is applied to reduce the carrying value of such loans ( i.e. , the cost recovery method ) .loans are restored to accrual status only when future pay- ments of interest and principal are reasonably assured .consumer loans , other than purchased credit-impaired loans , are generally charged to the allowance for loan losses upon reaching specified stages of delinquency , in accordance with the federal financial institutions examination council policy .for example , credit card loans are charged off by the end of the month in which the account becomes 180 days past due or within 60 days from receiv- ing notification of the filing of bankruptcy , whichever is earlier .residential mortgage products are generally charged off to net real- izable value at no later than 180 days past due .other consumer .
|
how much of the securities borrowed in 2008 were fair value resale agreements?
|
16.8%
|
{
"answer": "16.8%",
"decimal": 0.168,
"type": "percentage"
}
| |
volatility of capital markets or macroeconomic factors could adversely affect our business .changes in financial and capital markets , including market disruptions , limited liquidity , uncertainty regarding brexit , and interest rate volatility , including as a result of the use or discontinued use of certain benchmark rates such as libor , may increase the cost of financing as well as the risks of refinancing maturing debt .in addition , our borrowing costs can be affected by short and long-term ratings assigned by rating organizations .a decrease in these ratings could limit our access to capital markets and increase our borrowing costs , which could materially and adversely affect our financial condition and operating results .some of our customers and counterparties are highly leveraged .consolidations in some of the industries in which our customers operate have created larger customers , some of which are highly leveraged and facing increased competition and continued credit market volatility .these factors have caused some customers to be less profitable , increasing our exposure to credit risk .a significant adverse change in the financial and/or credit position of a customer or counterparty could require us to assume greater credit risk relating to that customer or counterparty and could limit our ability to collect receivables .this could have an adverse impact on our financial condition and liquidity .item 1b .unresolved staff comments .item 2 .properties .our corporate co-headquarters are located in pittsburgh , pennsylvania and chicago , illinois .our co-headquarters are leased and house certain executive offices , our u.s .business units , and our administrative , finance , legal , and human resource functions .we maintain additional owned and leased offices throughout the regions in which we operate .we manufacture our products in our network of manufacturing and processing facilities located throughout the world .as of december 29 , 2018 , we operated 84 manufacturing and processing facilities .we own 81 and lease three of these facilities .our manufacturing and processing facilities count by segment as of december 29 , 2018 was: .
[['', 'owned', 'leased'], ['united states', '40', '1'], ['canada', '2', '2014'], ['emea', '12', '2014'], ['rest of world', '27', '2']]
we maintain all of our manufacturing and processing facilities in good condition and believe they are suitable and are adequate for our present needs .we also enter into co-manufacturing arrangements with third parties if we determine it is advantageous to outsource the production of any of our products .in the fourth quarter of 2018 , we announced our plans to divest certain assets and operations , predominantly in canada and india , including one owned manufacturing facility in canada and one owned and one leased facility in india .see note 5 , acquisitions and divestitures , in item 8 , financial statements and supplementary data , for additional information on these transactions .item 3 .legal proceedings .see note 18 , commitments and contingencies , in item 8 , financial statements and supplementary data .item 4 .mine safety disclosures .not applicable .part ii item 5 .market for registrant's common equity , related stockholder matters and issuer purchases of equity securities .our common stock is listed on nasdaq under the ticker symbol 201ckhc 201d .at june 5 , 2019 , there were approximately 49000 holders of record of our common stock .see equity and dividends in item 7 , management 2019s discussion and analysis of financial condition and results of operations , for a discussion of cash dividends declared on our common stock. .
|
what is the portion of total number of facilities located in the rest of the world?
|
34.5%
|
{
"answer": "34.5%",
"decimal": 0.345,
"type": "percentage"
}
| |
28 , 35 , or 90 days .the funds associated with failed auctions will not be accessible until a successful auction occurs or a buyer is found outside of the auction process .based on broker- dealer valuation models and an analysis of other-than-temporary impairment factors , auction rate securities with an original par value of approximately $ 34 million were written-down to an estimated fair value of $ 16 million as of december 31 , 2007 .this write-down resulted in an 201cother-than-temporary 201d impairment charge of approximately $ 8 million ( pre-tax ) included in net income and a temporary impairment charge of $ 10 million ( pre-tax ) reflected as an unrealized loss within other comprehensive income for 2007 .as of december 31 , 2007 , these investments in auction rate securities have been in a loss position for less than six months .these auction rate securities are classified as non-current marketable securities as of december 31 , 2007 as indicated in the preceding table .3m reviews impairments associated with the above in accordance with emerging issues task force ( eitf ) 03-1 and fsp sfas 115-1 and 124-1 , 201cthe meaning of other-than-temporary-impairment and its application to certain investments , 201d to determine the classification of the impairment as 201ctemporary 201d or 201cother-than-temporary . 201d a temporary impairment charge results in an unrealized loss being recorded in the other comprehensive income component of stockholders 2019 equity .such an unrealized loss does not reduce net income for the applicable accounting period because the loss is not viewed as other-than-temporary .the company believes that a portion of the impairment of its auction rate securities investments is temporary and a portion is other-than-temporary .the factors evaluated to differentiate between temporary and other-than-temporary include the projected future cash flows , credit ratings actions , and assessment of the credit quality of the underlying collateral .the balance at december 31 , 2007 for marketable securities and short-term investments by contractual maturity are shown below .actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties .dec .31 , ( millions ) 2007 .
[['( millions )', 'dec . 31 2007'], ['due in one year or less', '$ 231'], ['due after one year through three years', '545'], ['due after three years through five years', '221'], ['due after five years', '62'], ['total marketable securities', '$ 1059']]
predetermined intervals , usually every 7 .
|
what was the rate of the adjustment of the auction rate securities with an original par value of approximately $ 34 million were written-down to an estimated fair value of $ 16 million as of december 31 , 2007.\\n
|
52.9%
|
{
"answer": "52.9%",
"decimal": 0.529,
"type": "percentage"
}
| |
table of contents the following table discloses purchases of shares of our common stock made by us or on our behalf during the fourth quarter of 2015 .period total number of shares purchased average price paid per share total number of shares not purchased as part of publicly announced plans or programs ( a ) total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( b ) .
[['period', 'total numberof sharespurchased', 'averageprice paidper share', 'total number ofshares notpurchased as part ofpublicly announcedplans or programs ( a )', 'total number ofshares purchased aspart of publiclyannounced plans orprograms', 'approximate dollarvalue of shares thatmay yet be purchasedunder the plans orprograms ( b )'], ['october 2015', '1658771', '$ 62.12', '842059', '816712', '$ 2.0 billion'], ['november 2015', '2412467', '$ 71.08', '212878', '2199589', '$ 1.8 billion'], ['december 2015', '7008414', '$ 70.31', '980', '7007434', '$ 1.3 billion'], ['total', '11079652', '$ 69.25', '1055917', '10023735', '$ 1.3 billion']]
( a ) the shares reported in this column represent purchases settled in the fourth quarter of 2015 relating to ( i ) our purchases of shares in open-market transactions to meet our obligations under stock-based compensation plans , and ( ii ) our purchases of shares from our employees and non-employee directors in connection with the exercise of stock options , the vesting of restricted stock , and other stock compensation transactions in accordance with the terms of our stock-based compensation plans .( b ) on july 13 , 2015 , we announced that our board of directors approved our purchase of $ 2.5 billion of our outstanding common stock ( with no expiration date ) , which was in addition to the remaining amount available under our $ 3 billion program previously authorized .during the third quarter of 2015 , we completed our purchases under the $ 3 billion program .as of december 31 , 2015 , we had $ 1.3 billion remaining available for purchase under the $ 2.5 billion program. .
|
as of december 31 , 2015 , what was the percent of the $ 2.5 billion program remaining available for purchase
|
52%
|
{
"answer": "52%",
"decimal": 0.52,
"type": "percentage"
}
| |
common stock from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to stock price , business and market conditions and other factors .we have been funding and expect to continue to fund stock repurchases through a combination of cash on hand and cash generated by operations .in the future , we may also choose to fund our stock repurchase program under our revolving credit facility or future financing transactions .there were no repurchases of our series a and b common stock during the three months ended december 31 , 2013 .the company first announced its stock repurchase program on august 3 , 2010 .stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , scripps network interactive , inc. , time warner , inc. , twenty-first century fox , inc .class a common stock ( news corporation class a common stock prior to june 2013 ) , viacom , inc .class b common stock and the walt disney company .the graph assumes $ 100 originally invested on december 31 , 2008 in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the years ended december 31 , 2009 , 2010 , 2011 , 2012 and 2013 .december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
[['', 'december 312008', 'december 312009', 'december 312010', 'december 312011', 'december 312012', 'december 312013'], ['disca', '$ 100.00', '$ 216.60', '$ 294.49', '$ 289.34', '$ 448.31', '$ 638.56'], ['discb', '$ 100.00', '$ 207.32', '$ 287.71', '$ 277.03', '$ 416.52', '$ 602.08'], ['disck', '$ 100.00', '$ 198.06', '$ 274.01', '$ 281.55', '$ 436.89', '$ 626.29'], ['s&p 500', '$ 100.00', '$ 123.45', '$ 139.23', '$ 139.23', '$ 157.90', '$ 204.63'], ['peer group', '$ 100.00', '$ 151.63', '$ 181.00', '$ 208.91', '$ 286.74', '$ 454.87']]
equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2014 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference. .
|
what was the percentage cumulative total shareholder return on disca for the five year period ended december 21 , 2013?
|
502.08%
|
{
"answer": "502.08%",
"decimal": 5.0207999999999995,
"type": "percentage"
}
| |
for marketing .there are several methods that can be used to determine the estimated fair value of the ipr&d acquired in a business combination .we utilized the 201cincome method , 201d which applies a probability weighting to the estimated future net cash fl ows that are derived from projected sales revenues and estimated costs .these projec- tions are based on factors such as relevant market size , patent protection , historical pricing of similar products , and expected industry trends .the estimated future net cash fl ows are then discounted to the present value using an appropriate discount rate .this analysis is performed for each project independently .in accordance with fin 4 , applicability of fasb statement no .2 to business combinations accounted for by the purchase method , these acquired ipr&d intangible assets totaling $ 4.71 billion and $ 340.5 million in 2008 and 2007 , respectively , were expensed immediately subsequent to the acquisition because the products had no alternative future use .the ongoing activities with respect to each of these products in development are not material to our research and development expenses .in addition to the acquisitions of businesses , we also acquired several products in development .the acquired ipr&d related to these products of $ 122.0 million and $ 405.1 million in 2008 and 2007 , respectively , was also writ- ten off by a charge to income immediately upon acquisition because the products had no alternative future use .imclone acquisition on november 24 , 2008 , we acquired all of the outstanding shares of imclone systems inc .( imclone ) , a biopharma- ceutical company focused on advancing oncology care , for a total purchase price of approximately $ 6.5 billion , which was fi nanced through borrowings .this strategic combination will offer both targeted therapies and oncolytic agents along with a pipeline spanning all phases of clinical development .the combination also expands our bio- technology capabilities .the acquisition has been accounted for as a business combination under the purchase method of accounting , resulting in goodwill of $ 419.5 million .no portion of this goodwill is expected to be deductible for tax purposes .allocation of purchase price we are currently determining the fair values of a signifi cant portion of these net assets .the purchase price has been preliminarily allocated based on an estimate of the fair value of assets acquired and liabilities assumed as of the date of acquisition .the fi nal determination of these fair values will be completed as soon as possible but no later than one year from the acquisition date .although the fi nal determination may result in asset and liability fair values that are different than the preliminary estimates of these amounts included herein , it is not expected that those differences will be material to our fi nancial results .estimated fair value at november 24 , 2008 .
[['cash and short-term investments', '$ 982.9'], ['inventories', '136.2'], ['developed product technology ( erbitux ) 1', '1057.9'], ['goodwill', '419.5'], ['property and equipment', '339.8'], ['debt assumed', '-600.0 ( 600.0 )'], ['deferred taxes', '-315.0 ( 315.0 )'], ['deferred income', '-127.7 ( 127.7 )'], ['other assets and liabilities 2014 net', '-72.1 ( 72.1 )'], ['acquired in-process research and development', '4685.4'], ['total purchase price', '$ 6506.9']]
1this intangible asset will be amortized on a straight-line basis through 2023 in the u.s .and 2018 in the rest of the world .all of the estimated fair value of the acquired ipr&d is attributable to oncology-related products in develop- ment , including $ 1.33 billion to line extensions for erbitux .a signifi cant portion ( 81 percent ) of the remaining value of acquired ipr&d is attributable to two compounds in phase iii clinical testing and one compound in phase ii clini- cal testing , all targeted to treat various forms of cancers .the discount rate we used in valuing the acquired ipr&d projects was 13.5 percent , and the charge for acquired ipr&d of $ 4.69 billion recorded in the fourth quarter of 2008 , was not deductible for tax purposes .pro forma financial information the following unaudited pro forma fi nancial information presents the combined results of our operations with .
|
what portion of the imclone's total purchase price is dedicated to goodwill?
|
6.4%
|
{
"answer": "6.4%",
"decimal": 0.064,
"type": "percentage"
}
| |
positions and collateral of the defaulting firm at each respective clearing organization , and taking into account any cross-margining loss sharing payments , any of the participating clearing organizations has a remaining liquidating surplus , and any other participating clearing organization has a remaining liquidating deficit , any additional surplus from the liquidation would be shared with the other clearing house to the extent that it has a remaining liquidating deficit .any remaining surplus funds would be passed to the bankruptcy trustee .mf global bankruptcy trust .the company provided a $ 550.0 million financial guarantee to the bankruptcy trustee of mf global to accelerate the distribution of funds to mf global customers .in the event that the trustee distributed more property in the second or third interim distributions than was permitted by the bankruptcy code and cftc regulations , the company will make a cash payment to the trustee for the amount of the erroneous distribution or distributions up to $ 550.0 million in the aggregate .a payment will only be made after the trustee makes reasonable efforts to collect the property erroneously distributed to the customer ( s ) .if a payment is made by the company , the company may have the right to seek reimbursement of the erroneously distributed property from the applicable customer ( s ) .the guarantee does not cover distributions made by the trustee to customers on the basis of their claims filed in the bankruptcy .because the trustee has now made payments to nearly all customers on the basis of their claims , the company believes that the likelihood of payment to the trustee is very remote .as a result , the guarantee liability is estimated to be immaterial at december 31 , 2012 .family farmer and rancher protection fund .in april 2012 , the company established the family farmer and rancher protection fund ( the fund ) .the fund is designed to provide payments , up to certain maximum levels , to family farmers , ranchers and other agricultural industry participants who use cme group agricultural products and who suffer losses to their segregated account balances due to their cme clearing member becoming insolvent .under the terms of the fund , farmers and ranchers are eligible for up to $ 25000 per participant .farming and ranching cooperatives are eligible for up to $ 100000 per cooperative .the fund has an aggregate maximum payment amount of $ 100.0 million .if payments to participants were to exceed this amount , payments would be pro-rated .clearing members and customers must register in advance with the company and provide certain documentation in order to substantiate their eligibility .peregrine financial group , inc .( pfg ) filed for bankruptcy protection on july 10 , 2012 .pfg was not one of cme 2019s clearing members and its customers had not registered for the fund .accordingly , they were not technically eligible for payments from the fund .however , because the fund was newly implemented and because pfg 2019s customers included many agricultural industry participants for whom the program was designed , the company decided to waive certain terms and conditions of the fund , solely in connection with the pfg bankruptcy , so that otherwise eligible family farmers , ranchers and agricultural cooperatives could apply for and receive benefits from cme .based on the number of such pfg customers who applied and the estimated size of their claims , the company has recorded a liability in the amount of $ 2.1 million at december 31 , 2012 .16 .redeemable non-controlling interest the following summarizes the changes in redeemable non-controlling interest for the years presented .non- controlling interests that do not contain redemption features are presented in the statements of equity. .
[['( in millions )', '2012', '2011', '2010'], ['balance at january 1', '$ 70.3', '$ 68.1', '$ 2014'], ['contribution by dow jones', '2014', '2014', '675.0'], ['distribution to dow jones', '2014', '2014', '-607.5 ( 607.5 )'], ['allocation of stock-based compensation', '2014', '0.1', '2014'], ['total comprehensive income attributable to redeemable non-controlling interest', '10.5', '2.1', '0.6'], ['balance at december 31', '$ 80.8', '$ 70.3', '$ 68.1']]
contribution by dow jones ...........2014 2014 675.0 distribution to dow jones ...........2014 2014 ( 607.5 ) allocation of stock- compensation ....2014 0.1 2014 total comprehensive income attributable to redeemable non- controlling interest ..........10.5 2.1 0.6 balance at december 31 .........$ 80.8 $ 70.3 $ 68.1 .
|
what was the percentage change in the redeemable non-controlling in 2012
|
14.9%
|
{
"answer": "14.9%",
"decimal": 0.149,
"type": "percentage"
}
| |
we operated the following factory stores as of march 29 , 2014: .
[['location', 'factory stores'], ['the americas', '150'], ['europe', '50'], ['asia ( a )', '35'], ['total', '235']]
( a ) includes australia , china , hong kong , japan , malaysia , south korea , and taiwan .our factory stores in the americas offer selections of our menswear , womenswear , childrenswear , accessories , home furnishings , and fragrances .ranging in size from approximately 2700 to 20000 square feet , with an average of approximately 10400 square feet , these stores are principally located in major outlet centers in 40 states in the u.s. , canada , and puerto rico .our factory stores in europe offer selections of our menswear , womenswear , childrenswear , accessories , home furnishings , and fragrances .ranging in size from approximately 1400 to 19700 square feet , with an average of approximately 7000 square feet , these stores are located in 12 countries , principally in major outlet centers .our factory stores in asia offer selections of our menswear , womenswear , childrenswear , accessories , and fragrances .ranging in size from approximately 1100 to 11800 square feet , with an average of approximately 6200 square feet , these stores are primarily located throughout china and japan , in hong kong , and in or near other major cities in asia and australia .our factory stores are principally located in major outlet centers .factory stores obtain products from our suppliers , our product licensing partners , and our other retail stores and e-commerce operations , and also serve as a secondary distribution channel for our excess and out-of-season products .concession-based shop-within-shops the terms of trade for shop-within-shops are largely conducted on a concession basis , whereby inventory continues to be owned by us ( not the department store ) until ultimate sale to the end consumer .the salespeople involved in the sales transactions are generally our employees and not those of the department store .as of march 29 , 2014 , we had 503 concession-based shop-within-shops at 243 retail locations dedicated to our products , which were located in asia , australia , new zealand , and europe .the size of our concession-based shop-within-shops ranges from approximately 140 to 7400 square feet .we may share in the cost of building-out certain of these shop-within-shops with our department store partners .e-commerce websites in addition to our stores , our retail segment sells products online through our e-commerce channel , which includes : 2022 our north american e-commerce sites located at www.ralphlauren.com and www.clubmonaco.com , as well as our club monaco site in canada located at www.clubmonaco.ca ; 2022 our ralph lauren e-commerce sites in europe , including www.ralphlauren.co.uk ( servicing the united kingdom ) , www.ralphlauren.fr ( servicing belgium , france , italy , luxembourg , the netherlands , portugal , and spain ) , and www.ralphlauren.de ( servicing germany and austria ) ; and 2022 our ralph lauren e-commerce sites in asia , including www.ralphlauren.co.jp servicing japan and www.ralphlauren.co.kr servicing south korea .our ralph lauren e-commerce sites in the u.s. , europe , and asia offer our customers access to a broad array of ralph lauren , rrl , polo , and denim & supply apparel , accessories , fragrance , and home products , and reinforce the luxury image of our brands .while investing in e-commerce operations remains a primary focus , it is an extension of our investment in the integrated omni-channel strategy used to operate our overall retail business , in which our e-commerce operations are interdependent with our physical stores .our club monaco e-commerce sites in the u.s .and canada offer our domestic and canadian customers access to our club monaco global assortment of womenswear , menswear , and accessories product lines , as well as select online exclusives. .
|
what percentage of factory stores as of march 29 , 2014 are in asia?
|
15%
|
{
"answer": "15%",
"decimal": 0.15,
"type": "percentage"
}
| |
after reviewing earnings per share and operating cash flow results against the performance objectives in the above table , the personnel committee set the entergy achievement multiplier at 140% ( 140 % ) of target .under the terms of the executive incentive plan , the entergy achievement multiplier is automatically increased by 25 percent for the members of the office of the chief executive ( including mr .denault and mr .smith , but not the other named executive officers ) , subject to the personnel committee's discretion to adjust the automatic multiplier downward or eliminate it altogether .in accordance with section 162 ( m ) of the internal revenue code , the multiplier which entergy refers to as the management effectiveness factor is intended to provide the committee , through the exercise of negative discretion , a mechanism to take into consideration the specific achievement factors relating to the overall performance of entergy corporation .in january 2009 , the committee exercised its negative discretion to eliminate the management effectiveness factor , reflecting the personnel committee's determination that the entergy achievement multiplier , in and of itself without the management effectiveness factor , was consistent with the performance levels achieved by management .the annual incentive award for the named executive officers ( other than mr .leonard , mr .denault and mr .smith ) is awarded from an incentive pool approved by the committee .from this pool , each named executive officer's supervisor determines the annual incentive payment based on the entergy achievement multiplier .the supervisor has the discretion to increase or decrease the multiple used to determine an incentive award based on individual and business unit performance .the incentive awards are subject to the ultimate approval of entergy's chief executive officer .the following table shows the executive and management incentive plans payments as a percentage of base salary for 2008 : named exeutive officer target percentage base salary 2008 annual incentive award .
[['named exeutive officer', 'target', 'percentage base salary', '2008 annual incentive award'], ['j . wayne leonard', '120% ( 120 % )', '168% ( 168 % )', '$ 2169720'], ['leo p . denault', '70% ( 70 % )', '98% ( 98 % )', '$ 617400'], ['richard j . smith', '70% ( 70 % )', '98% ( 98 % )', '$ 632100'], ['e . renae conley', '60% ( 60 % )', '102% ( 102 % )', '$ 415000'], ['hugh t . mcdonald', '50% ( 50 % )', '50% ( 50 % )', '$ 160500'], ['joseph f . domino', '50% ( 50 % )', '72% ( 72 % )', '$ 230000'], ['roderick k . west', '40% ( 40 % )', '80% ( 80 % )', '$ 252000'], ['haley fisackerly', '40% ( 40 % )', '46% ( 46 % )', '$ 125700'], ['theodore h . bunting jr .', '60% ( 60 % )', '117% ( 117 % )', '$ 400023'], ['carolyn shanks', '50% ( 50 % )', '72% ( 72 % )', '$ 229134'], ['jay a . lewis', '40% ( 40 % )', '60% ( 60 % )', '$ 128505']]
while ms .shanks and mr .lewis are no longer ceo-entergy mississippi and principal financial officer for the subsidiaries , respectively , ms .shanks continues to participate in the executive incentive plan , and mr .lewis continues to participate in the management incentive plan as they remain employees of entergy since the contemplated enexus separation has not occurred and enexus remains a subsidiary of entergy .nuclear retention plan some of entergy's executives , but not any of the named executive officers , participate in a special retention plan for officers and other leaders with special expertise in the nuclear industry .the committee authorized the plan to attract and retain management talent in the nuclear power field , a field which requires unique technical and other expertise that is in great demand in the utility industry .the plan provides for bonuses to be paid over a three-year employment period .subject to continued employment with a participating company , a participating employee is eligible to receive a special cash bonus consisting of three payments , each consisting of an amount from 15% ( 15 % ) to 30% ( 30 % ) of such participant's base salary. .
|
what is the difference of annual incentive award between the highest and the lowest award?
|
2044020
|
{
"answer": "2044020",
"decimal": 2044020,
"type": "float"
}
| |
amortization expense , which is included in selling , general and administrative expenses , was $ 13.0 million , $ 13.9 million and $ 8.5 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .the following is the estimated amortization expense for the company 2019s intangible assets as of december 31 , 2016 : ( in thousands ) .
[['2017', '$ 10509'], ['2018', '9346'], ['2019', '9240'], ['2020', '7201'], ['2021', '5318'], ['2022 and thereafter', '16756'], ['amortization expense of intangible assets', '$ 58370']]
at december 31 , 2016 , 2015 and 2014 , the company determined that its goodwill and indefinite- lived intangible assets were not impaired .5 .credit facility and other long term debt credit facility the company is party to a credit agreement that provides revolving commitments for up to $ 1.25 billion of borrowings , as well as term loan commitments , in each case maturing in january 2021 .as of december 31 , 2016 there was no outstanding balance under the revolving credit facility and $ 186.3 million of term loan borrowings remained outstanding .at the company 2019s request and the lender 2019s consent , revolving and or term loan borrowings may be increased by up to $ 300.0 million in aggregate , subject to certain conditions as set forth in the credit agreement , as amended .incremental borrowings are uncommitted and the availability thereof , will depend on market conditions at the time the company seeks to incur such borrowings .the borrowings under the revolving credit facility have maturities of less than one year .up to $ 50.0 million of the facility may be used for the issuance of letters of credit .there were $ 2.6 million of letters of credit outstanding as of december 31 , 2016 .the credit agreement contains negative covenants that , subject to significant exceptions , limit the ability of the company and its subsidiaries to , among other things , incur additional indebtedness , make restricted payments , pledge their assets as security , make investments , loans , advances , guarantees and acquisitions , undergo fundamental changes and enter into transactions with affiliates .the company is also required to maintain a ratio of consolidated ebitda , as defined in the credit agreement , to consolidated interest expense of not less than 3.50 to 1.00 and is not permitted to allow the ratio of consolidated total indebtedness to consolidated ebitda to be greater than 3.25 to 1.00 ( 201cconsolidated leverage ratio 201d ) .as of december 31 , 2016 , the company was in compliance with these ratios .in addition , the credit agreement contains events of default that are customary for a facility of this nature , and includes a cross default provision whereby an event of default under other material indebtedness , as defined in the credit agreement , will be considered an event of default under the credit agreement .borrowings under the credit agreement bear interest at a rate per annum equal to , at the company 2019s option , either ( a ) an alternate base rate , or ( b ) a rate based on the rates applicable for deposits in the interbank market for u.s .dollars or the applicable currency in which the loans are made ( 201cadjusted libor 201d ) , plus in each case an applicable margin .the applicable margin for loans will .
|
what was the difference in millions of amortization expense between 2015 and 2016?
|
-.9
|
{
"answer": "-.9",
"decimal": -0.9,
"type": "float"
}
| |
charge-off is based on pnc 2019s actual loss experience for each type of pool .since a pool may consist of first and second liens , the charge-off amounts for the pool are proportionate to the composition of first and second liens in the pool .our experience has been that the ratio of first to second lien loans has been consistent over time and is appropriately represented in our pools used for roll-rate calculations .generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20-year amortization term .during the draw period , we have home equity lines of credit where borrowers pay interest only and home equity lines of credit where borrowers pay principal and interest .the risk associated with our home equity lines of credit end of period draw dates is considered in establishing our alll .based upon outstanding balances at december 31 , 2013 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end .table 41 : home equity lines of credit 2013 draw period end in millions interest only product principal and interest product .
[['in millions', 'interest onlyproduct', 'principal andinterest product'], ['2014', '$ 1768', '$ 450'], ['2015', '1829', '625'], ['2016', '1521', '485'], ['2017', '2738', '659'], ['2018', '1206', '894'], ['2019 and thereafter', '3848', '4562'], ['total ( a ) ( b )', '$ 12910', '$ 7675']]
( a ) includes all home equity lines of credit that mature in 2014 or later , including those with borrowers where we have terminated borrowing privileges .( b ) includes approximately $ 185 million , $ 193 million , $ 54 million , $ 63 million , $ 47 million and $ 561 million of home equity lines of credit with balloon payments , including those where we have terminated borrowing privileges , with draw periods scheduled to end in 2014 , 2015 , 2016 , 2017 , 2018 and 2019 and thereafter , respectively .we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments .based upon outstanding balances , and excluding purchased impaired loans , at december 31 , 2013 , for home equity lines of credit for which the borrower can no longer draw ( e.g. , draw period has ended or borrowing privileges have been terminated ) , approximately 3.65% ( 3.65 % ) were 30-89 days past due and approximately 5.49% ( 5.49 % ) were 90 days or more past due .generally , when a borrower becomes 60 days past due , we terminate borrowing privileges and those privileges are not subsequently reinstated .at that point , we continue our collection/recovery processes , which may include a loss mitigation loan modification resulting in a loan that is classified as a tdr .see note 5 asset quality in the notes to consolidated financial statements in item 8 of this report for additional information .loan modifications and troubled debt restructurings consumer loan modifications we modify loans under government and pnc-developed programs based upon our commitment to help eligible homeowners and borrowers avoid foreclosure , where appropriate .initially , a borrower is evaluated for a modification under a government program .if a borrower does not qualify under a government program , the borrower is then evaluated under a pnc program .our programs utilize both temporary and permanent modifications and typically reduce the interest rate , extend the term and/or defer principal .temporary and permanent modifications under programs involving a change to loan terms are generally classified as tdrs .further , certain payment plans and trial payment arrangements which do not include a contractual change to loan terms may be classified as tdrs .additional detail on tdrs is discussed below as well as in note 5 asset quality in the notes to consolidated financial statements in item 8 of this report .a temporary modification , with a term between 3 and 24 months , involves a change in original loan terms for a period of time and reverts to a calculated exit rate for the remaining term of the loan as of a specific date .a permanent modification , with a term greater than 24 months , is a modification in which the terms of the original loan are changed .permanent modifications primarily include the government-created home affordable modification program ( hamp ) or pnc-developed hamp-like modification programs .for home equity lines of credit , we will enter into a temporary modification when the borrower has indicated a temporary hardship and a willingness to bring current the delinquent loan balance .examples of this situation often include delinquency due to illness or death in the family or loss of employment .permanent modifications are entered into when it is confirmed that the borrower does not possess the income necessary to continue making loan payments at the current amount , but our expectation is that payments at lower amounts can be made .we also monitor the success rates and delinquency status of our loan modification programs to assess their effectiveness in serving our customers 2019 needs while mitigating credit losses .table 42 provides the number of accounts and unpaid principal balance of modified consumer real estate related loans and table 43 provides the number of accounts and unpaid principal balance of modified loans that were 60 days or more past due as of six months , nine months , twelve months and fifteen months after the modification date .the pnc financial services group , inc .2013 form 10-k 79 .
|
at december 31 , 2013 , for home equity lines of credit for which the borrower can no longer draw ( e.g . , draw period has ended or borrowing privileges have been terminated ) , approximately what percent were 30-89 days past due and 90 days or more past due?
|
9.14
|
{
"answer": "9.14",
"decimal": 9.14,
"type": "float"
}
| |
interest expense .
[['', '2014', '2013', '2012'], ['interest incurred', '$ 158.1', '$ 167.6', '$ 153.9'], ['less : capitalized interest', '33.0', '25.8', '30.2'], ['interest expense', '$ 125.1', '$ 141.8', '$ 123.7']]
2014 vs .2013 interest incurred decreased $ 9.5 .the decrease was primarily due to a lower average interest rate on the debt portfolio which reduced interest by $ 13 , partially offset by a higher average debt balance which increased interest by $ 6 .the change in capitalized interest was driven by a higher carrying value in construction in progress .2013 vs .2012 interest incurred increased $ 13.7 .the increase was driven primarily by a higher average debt balance for $ 41 , partially offset by a lower average interest rate on the debt portfolio of $ 24 .the change in capitalized interest was driven by a decrease in project spending and a lower average interest rate .effective tax rate the effective tax rate equals the income tax provision divided by income from continuing operations before taxes .refer to note 22 , income taxes , to the consolidated financial statements for details on factors affecting the effective tax rate .2014 vs .2013 on a gaap basis , the effective tax rate was 27.0% ( 27.0 % ) and 22.8% ( 22.8 % ) in 2014 and 2013 , respectively .the effective tax rate was higher in the current year primarily due to the goodwill impairment charge of $ 305.2 , which was not deductible for tax purposes , and the chilean tax reform enacted in september 2014 which increased income tax expense by $ 20.6 .these impacts were partially offset by an income tax benefit of $ 51.6 associated with losses from transactions and a tax election in a non-u.s .subsidiary .the prior year rate included income tax benefits of $ 73.7 related to the business restructuring and cost reduction plans and $ 3.7 for the advisory costs .refer to note 4 , business restructuring and cost reduction actions ; note 9 , goodwill ; note 22 , income taxes ; and note 23 , supplemental information , to the consolidated financial statements for details on these transactions .on a non-gaap basis , the effective tax rate was 24.0% ( 24.0 % ) and 24.2% ( 24.2 % ) in 2014 and 2013 , respectively .2013 vs .2012 on a gaap basis , the effective tax rate was 22.8% ( 22.8 % ) and 21.9% ( 21.9 % ) in 2013 and 2012 , respectively .the effective rate in 2013 includes income tax benefits of $ 73.7 related to the business restructuring and cost reduction plans and $ 3.7 for the advisory costs .the effective rate in 2012 includes income tax benefits of $ 105.0 related to the business restructuring and cost reduction plans , $ 58.3 related to the second quarter spanish tax ruling , and $ 3.7 related to the customer bankruptcy charge , offset by income tax expense of $ 43.8 related to the first quarter spanish tax settlement and $ 31.3 related to the gain on the previously held equity interest in da nanomaterials .refer to note 4 , business restructuring and cost reduction actions ; note 5 , business combinations ; note 22 , income taxes ; and note 23 , supplemental information , to the consolidated financial statements for details on these transactions .on a non-gaap basis , the effective tax rate was 24.2% ( 24.2 % ) in both 2013 and 2012 .discontinued operations during the second quarter of 2012 , the board of directors authorized the sale of our homecare business , which had previously been reported as part of the merchant gases operating segment .in 2012 , we sold the majority of our homecare business to the linde group for sale proceeds of 20ac590 million ( $ 777 ) and recognized a gain of $ 207.4 ( $ 150.3 after-tax , or $ .70 per share ) .in addition , an impairment charge of $ 33.5 ( $ 29.5 after-tax , or $ .14 per share ) was recorded to write down the remaining business , which was primarily in the united kingdom and ireland , to its estimated net realizable value .in 2013 , we recorded an additional charge of $ 18.7 ( $ 13.6 after-tax , or $ .06 per share ) to update our estimate of the net realizable value .in 2014 , a gain of $ 3.9 was recognized for the sale of the remaining homecare business and settlement of contingencies on the sale to the linde group .refer to note 3 , discontinued operations , to the consolidated financial statements for additional details on this business. .
|
what is the increase observed in the interest expense during 2012 and 2013?
|
14.63%
|
{
"answer": "14.63%",
"decimal": 0.1463,
"type": "percentage"
}
|
it is the total expenses in 2013 divided by the 2012's then turned into a percentage .
|
institutions .international paper continually monitors its positions with and the credit quality of these financial institutions and does not expect non- performance by the counterparties .note 14 capital stock the authorized capital stock at both december 31 , 2006 and 2005 , consisted of 990850000 shares of common stock , $ 1 par value ; 400000 shares of cumulative $ 4 preferred stock , without par value ( stated value $ 100 per share ) ; and 8750000 shares of serial preferred stock , $ 1 par value .the serial preferred stock is issuable in one or more series by the board of directors without further shareholder action .in july 2006 , in connection with the planned use of projected proceeds from the company 2019s trans- formation plan , international paper 2019s board of direc- tors authorized a share repurchase program to acquire up to $ 3.0 billion of the company 2019s stock .in a modified 201cdutch auction 201d tender offer completed in september 2006 , international paper purchased 38465260 shares of its common stock at a price of $ 36.00 per share , plus costs to acquire the shares , for a total cost of approximately $ 1.4 billion .in addition , in december 2006 , the company purchased an addi- tional 1220558 shares of its common stock in the open market at an average price of $ 33.84 per share , plus costs to acquire the shares , for a total cost of approximately $ 41 million .following the completion of these share repurchases , international paper had approximately 454 million shares of common stock issued and outstanding .note 15 retirement plans u.s .defined benefit plans international paper maintains pension plans that provide retirement benefits to substantially all domestic employees hired prior to july 1 , 2004 .these employees generally are eligible to participate in the plans upon completion of one year of service and attainment of age 21 .employees hired after june 30 , 2004 , who are not eligible for these pension plans receive an additional company contribution to their savings plan ( see 201cother plans 201d on page 83 ) .the plans provide defined benefits based on years of credited service and either final average earnings ( salaried employees ) , hourly job rates or specified benefit rates ( hourly and union employees ) .for its qualified defined benefit pension plan , interna- tional paper makes contributions that are sufficient to fully fund its actuarially determined costs , gen- erally equal to the minimum amounts required by the employee retirement income security act ( erisa ) .in addition , international paper made volun- tary contributions of $ 1.0 billion to the qualified defined benefit plan in 2006 , and does not expect to make any contributions in 2007 .the company also has two unfunded nonqualified defined benefit pension plans : a pension restoration plan available to employees hired prior to july 1 , 2004 that provides retirement benefits based on eligible compensation in excess of limits set by the internal revenue service , and a supplemental retirement plan for senior managers ( serp ) , which is an alternative retirement plan for senior vice presi- dents and above who are designated by the chief executive officer as participants .these nonqualified plans are only funded to the extent of benefits paid , which are expected to be $ 41 million in 2007 .net periodic pension expense service cost is the actuarial present value of benefits attributed by the plans 2019 benefit formula to services rendered by employees during the year .interest cost represents the increase in the projected benefit obli- gation , which is a discounted amount , due to the passage of time .the expected return on plan assets reflects the computed amount of current year earn- ings from the investment of plan assets using an estimated long-term rate of return .net periodic pension expense for qualified and nonqualified u.s .defined benefit plans comprised the following : in millions 2006 2005 2004 .
[['in millions', '2006', '2005', '2004'], ['service cost', '$ 141', '$ 129', '$ 115'], ['interest cost', '506', '474', '467'], ['expected return on plan assets', '-540 ( 540 )', '-556 ( 556 )', '-592 ( 592 )'], ['actuarial loss', '243', '167', '94'], ['amortization of prior service cost', '27', '29', '27'], ['net periodic pension expense ( a )', '$ 377', '$ 243', '$ 111']]
( a ) excludes $ 9.1 million , $ 6.5 million and $ 3.4 million in 2006 , 2005 and 2004 , respectively , in curtailment losses , and $ 8.7 million , $ 3.6 million and $ 1.4 million in 2006 , 2005 and 2004 , respectively , of termination benefits , in connection with cost reduction programs and facility rationalizations that were recorded in restructuring and other charges in the con- solidated statement of operations .also excludes $ 77.2 million and $ 14.3 million in 2006 and 2005 , respectively , in curtailment losses , and $ 18.6 million and $ 7.6 million of termination bene- fits in 2006 and 2005 , respectively , related to certain divest- itures recorded in net losses on sales and impairments of businesses held for sale in the consolidated statement of oper- ations. .
|
what is the percentage change in net periodic pension expense between 2004 and 2005?
|
119%
|
{
"answer": "119%",
"decimal": 1.19,
"type": "percentage"
}
| |
operating profit for the segment decreased by 1% ( 1 % ) in 2010 compared to 2009 .for the year , operating profit declines in defense more than offset an increase in civil , while operating profit at intelligence essentially was unchanged .the $ 27 million decrease in operating profit at defense primarily was attributable to a decrease in the level of favorable performance adjustments on mission and combat systems activities in 2010 .the $ 19 million increase in civil principally was due to higher volume on enterprise civilian services .operating profit for the segment decreased by 3% ( 3 % ) in 2009 compared to 2008 .operating profit declines in civil and intelligence partially were offset by growth in defense .the decrease of $ 29 million in civil 2019s operating profit primarily was attributable to a reduction in the level of favorable performance adjustments on enterprise civilian services programs in 2009 compared to 2008 .the decrease in operating profit of $ 27 million at intelligence mainly was due to a reduction in the level of favorable performance adjustments on security solution activities in 2009 compared to 2008 .the increase in defense 2019s operating profit of $ 29 million mainly was due to volume and improved performance in mission and combat systems .the decrease in backlog during 2010 compared to 2009 mainly was due to higher sales volume on enterprise civilian service programs at civil , including volume associated with the dris 2010 program , and mission and combat system programs at defense .backlog decreased in 2009 compared to 2008 due to u.s .government 2019s exercise of the termination for convenience clause on the tsat mission operations system ( tmos ) contract at defense , which resulted in a $ 1.6 billion reduction in orders .this decline more than offset increased orders on enterprise civilian services programs at civil .we expect is&gs will experience a low single digit percentage decrease in sales for 2011 as compared to 2010 .this decline primarily is due to completion of most of the work associated with the dris 2010 program .operating profit in 2011 is expected to decline in relationship to the decline in sales volume , while operating margins are expected to be comparable between the years .space systems our space systems business segment is engaged in the design , research and development , engineering , and production of satellites , strategic and defensive missile systems , and space transportation systems , including activities related to the planned replacement of the space shuttle .government satellite programs include the advanced extremely high frequency ( aehf ) system , the mobile user objective system ( muos ) , the global positioning satellite iii ( gps iii ) system , the space-based infrared system ( sbirs ) , and the geostationary operational environmental satellite r-series ( goes-r ) .strategic and missile defense programs include the targets and countermeasures program and the fleet ballistic missile program .space transportation includes the nasa orion program and , through ownership interests in two joint ventures , expendable launch services ( united launch alliance , or ula ) and space shuttle processing activities for the u.s .government ( united space alliance , or usa ) .the space shuttle is expected to complete its final flight mission in 2011 and our involvement with its launch and processing activities will end at that time .space systems 2019 operating results included the following : ( in millions ) 2010 2009 2008 .
[['( in millions )', '2010', '2009', '2008'], ['net sales', '$ 8246', '$ 8654', '$ 8027'], ['operating profit', '972', '972', '953'], ['operating margin', '11.8% ( 11.8 % )', '11.2% ( 11.2 % )', '11.9% ( 11.9 % )'], ['backlog at year-end', '17800', '16800', '17900']]
net sales for space systems decreased by 5% ( 5 % ) in 2010 compared to 2009 .sales declined in all three lines of business during the year .the $ 253 million decrease in space transportation principally was due to lower volume on the space shuttle external tank , commercial launch vehicle activity and other human space flight programs , which partially were offset by higher volume on the orion program .there were no commercial launches in 2010 compared to one commercial launch in 2009 .strategic & defensive missile systems ( s&dms ) sales declined $ 147 million principally due to lower volume on defensive missile programs .the $ 8 million sales decline in satellites primarily was attributable to lower volume on commercial satellites , which partially were offset by higher volume on government satellite activities .there was one commercial satellite delivery in 2010 and one commercial satellite delivery in 2009 .net sales for space systems increased 8% ( 8 % ) in 2009 compared to 2008 .during the year , sales growth at satellites and space transportation offset a decline in s&dms .the sales growth of $ 707 million in satellites was due to higher volume in government satellite activities , which partially was offset by lower volume in commercial satellite activities .there was one commercial satellite delivery in 2009 and two deliveries in 2008 .the increase in sales of $ 21 million in space transportation primarily was due to higher volume on the orion program , which more than offset a decline in the space shuttle 2019s external tank program .there was one commercial launch in both 2009 and 2008 .s&dms 2019 sales decreased by $ 102 million mainly due to lower volume on defensive missile programs , which more than offset growth in strategic missile programs. .
|
what is the growth rate of operating expenses from 2009 to 2010?
|
-5.3%
|
{
"answer": "-5.3%",
"decimal": -0.053,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) from december 1 through may 31 of each year .during the 2008 , 2007 and 2006 offering periods employees purchased 55764 , 48886 and 53210 shares , respectively , at weighted average prices per share of $ 30.08 , $ 33.93 and $ 24.98 , respectively .the fair value of the espp offerings is estimated on the offering period commencement date using a black-scholes pricing model with the expense recognized over the expected life , which is the six month offering period over which employees accumulate payroll deductions to purchase the company 2019s common stock .the weighted average fair value for the espp shares purchased during 2008 , 2007 and 2006 were $ 7.89 , $ 9.09 and $ 6.79 , respectively .at december 31 , 2008 , 8.8 million shares remain reserved for future issuance under the plan .key assumptions used to apply this pricing model for the years ended december 31 , are as follows: .
[['', '2008', '2007', '2006'], ['range of risk free interest rates', '1.99% ( 1.99 % ) 20143.28% ( 20143.28 % )', '4.98% ( 4.98 % ) 20145.05% ( 20145.05 % )', '5.01% ( 5.01 % ) 20145.17% ( 20145.17 % )'], ['weighted average risk-free interest rate', '2.58% ( 2.58 % )', '5.02% ( 5.02 % )', '5.08% ( 5.08 % )'], ['expected life of the shares', '6 months', '6 months', '6 months'], ['range of expected volatility of underlying stock price', '27.85% ( 27.85 % ) 201428.51% ( 201428.51 % )', '27.53% ( 27.53 % ) 201428.74% ( 201428.74 % )', '29.60% ( 29.60 % )'], ['weighted average expected volatility of underlying stock price', '28.51% ( 28.51 % )', '28.22% ( 28.22 % )', '29.60% ( 29.60 % )'], ['expected annual dividends', 'n/a', 'n/a', 'n/a']]
13 .stockholders 2019 equity warrants 2014in january 2003 , the company issued warrants to purchase approximately 11.4 million shares of its common stock in connection with an offering of 808000 units , each consisting of $ 1000 principal amount at maturity of ati 12.25% ( 12.25 % ) senior subordinated discount notes due 2008 and a warrant to purchase 14.0953 shares of the company 2019s common stock .these warrants became exercisable on january 29 , 2006 at an exercise price of $ 0.01 per share .as these warrants expired on august 1 , 2008 , none were outstanding as of december 31 , in august 2005 , the company completed its merger with spectrasite , inc .and assumed outstanding warrants to purchase shares of spectrasite , inc .common stock .as of the merger completion date , each warrant was exercisable for two shares of spectrasite , inc .common stock at an exercise price of $ 32 per warrant .upon completion of the merger , each warrant to purchase shares of spectrasite , inc .common stock automatically converted into a warrant to purchase shares of the company 2019s common stock , such that upon exercise of each warrant , the holder has a right to receive 3.575 shares of the company 2019s common stock in lieu of each share of spectrasite , inc .common stock that would have been receivable under each assumed warrant prior to the merger .upon completion of the company 2019s merger with spectrasite , inc. , these warrants were exercisable for approximately 6.8 million shares of common stock .of these warrants , warrants to purchase approximately 1.8 million and 2.0 million shares of common stock remained outstanding as of december 31 , 2008 and 2007 , respectively .these warrants will expire on february 10 , 2010 .stock repurchase programs 2014during the year ended december 31 , 2008 , the company repurchased an aggregate of approximately 18.3 million shares of its common stock for an aggregate of $ 697.1 million , including commissions and fees , pursuant to its publicly announced stock repurchase programs , as described below. .
|
what is the growth rate in the price of espp shares purchased from 2007 to 2008?
|
-13.2%
|
{
"answer": "-13.2%",
"decimal": -0.132,
"type": "percentage"
}
| |
item 2 : properties information concerning applied 2019s principal properties at october 28 , 2012 is set forth below : location type principal use square footage ownership santa clara , ca ...........office , plant & warehouse headquarters ; marketing ; manufacturing ; distribution ; research , development , engineering ; customer support 1512000 150000 leased austin , tx ...............office , plant & warehouse manufacturing 1719000 145000 leased rehovot , israel ...........office , plant & warehouse manufacturing ; research , development , engineering ; customer support 417000 leased alzenau , germany ........office , plant & warehouse manufacturing ; research , development and engineering 281000 leased kalispell , mt ............office , plant & warehouse manufacturing ; research , development , engineering ; customer support 252000 owned cheseaux , switzerland .....office , plant & warehouse manufacturing ; research , development , engineering ; customer support 165000 leased treviso , italy .............office , plant & warehouse manufacturing ; research , development , engineering ; customer support 150000 leased singapore ...............office , plant & warehouse manufacturing and customer support 392000 leased gloucester , ma ...........office , plant & warehouse manufacturing ; research , development , engineering ; customer support 319000 135000 leased tainan , taiwan ...........office , plant & warehouse manufacturing and customer support 320000 owned xi 2019an , china .............office , plant & warehouse research , development and engineering 567000 owned hsinchu , taiwan ..........office & warehouse customer support 93000 leased .
[['location', 'type', 'principal use', 'squarefootage', 'ownership'], ['santa clara ca', 'office plant & warehouse', 'headquarters ; marketing ; manufacturing ; distribution ; research developmentengineering ; customer support', '1512000150000', 'ownedleased'], ['austin tx', 'office plant & warehouse', 'manufacturing', '1719000145000', 'ownedleased'], ['rehovot israel', 'office plant & warehouse', 'manufacturing ; researchdevelopment engineering;customer support', '4170005000', 'ownedleased'], ['alzenau germany', 'office plant & warehouse', 'manufacturing ; researchdevelopment andengineering', '281000', 'leased'], ['kalispell mt', 'office plant & warehouse', 'manufacturing ; researchdevelopment engineering;customer support', '252000', 'owned'], ['cheseaux switzerland', 'office plant & warehouse', 'manufacturing ; researchdevelopment engineering;customer support', '165000', 'leased'], ['treviso italy', 'office plant & warehouse', 'manufacturing ; researchdevelopment engineering;customer support', '150000', 'leased'], ['singapore', 'office plant & warehouse', 'manufacturing andcustomer support', '3920005000', 'ownedleased'], ['gloucester ma', 'office plant & warehouse', 'manufacturing ; researchdevelopment engineering;customer support', '319000135000', 'ownedleased'], ['tainan taiwan', 'office plant & warehouse', 'manufacturing andcustomer support', '320000', 'owned'], ['xi 2019an china', 'office plant & warehouse', 'research development andengineering', '567000', 'owned'], ['hsinchu taiwan', 'office & warehouse', 'customer support', '930006000', 'ownedleased'], ['shanghai china', 'office & warehouse', 'customer support', '105000', 'leased']]
because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .products in the silicon systems group are manufactured in austin , texas ; gloucester , massachusetts ; rehovot , israel ; and singapore .remanufactured products in the applied global services segment are produced primarily in austin , texas .products in the display segment are manufactured in santa clara , california ; alzenau , germany ; and tainan , taiwan .products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany ; cheseaux , switzerland ; and treviso , italy .in addition to the above properties , applied leases office space for marketing , sales , engineering and customer support offices in 79 locations throughout the world : 17 in europe , 23 in japan , 16 in north america ( principally the united states ) , 7 in china , 7 in korea , 6 in southeast asia , and 3 in taiwan .applied also owns 112 acres of buildable land in texas that could accommodate approximately 1708000 square feet of additional building space , 12.5 acres in california that could accommodate approximately 400000 square feet of additional building space , 10.8 acres in massachusetts that could accommodate approximately 65000 square feet of additional building space and 10 acres in israel that could accommodate approximately 111000 square feet of additional building space .applied also leases 4 acres in italy that could accommodate approximately 180000 square feet of additional building space .applied considers the properties that it owns or leases as adequate to meet its current and future requirements .applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
|
what is the total square footage of office & warehouse customer support 93000 leased in china?
|
672000
|
{
"answer": "672000",
"decimal": 672000,
"type": "float"
}
| |
table of contents item 1b .unresolved staff comments we have no unresolved sec staff comments to report .item 2 .properties as of december 31 , 2015 , we owned or leased 126 major manufacturing sites and 14 major technical centers .a manufacturing site may include multiple plants and may be wholly or partially owned or leased .we also have many smaller manufacturing sites , sales offices , warehouses , engineering centers , joint ventures and other investments strategically located throughout the world .we have a presence in 44 countries .the following table shows the regional distribution of our major manufacturing sites by the operating segment that uses such facilities : north america europe , middle east & africa asia pacific south america total .
[['', 'north america', 'europemiddle east& africa', 'asia pacific', 'south america', 'total'], ['electrical/electronic architecture', '30', '32', '25', '5', '92'], ['powertrain systems', '4', '10', '5', '2', '21'], ['electronics and safety', '3', '7', '3', '2014', '13'], ['total', '37', '49', '33', '7', '126']]
in addition to these manufacturing sites , we had 14 major technical centers : four in north america ; five in europe , middle east and africa ; four in asia pacific ; and one in south america .of our 126 major manufacturing sites and 14 major technical centers , which include facilities owned or leased by our consolidated subsidiaries , 77 are primarily owned and 63 are primarily leased .we frequently review our real estate portfolio and develop footprint strategies to support our customers 2019 global plans , while at the same time supporting our technical needs and controlling operating expenses .we believe our evolving portfolio will meet current and anticipated future needs .item 3 .legal proceedings we are from time to time subject to various actions , claims , suits , government investigations , and other proceedings incidental to our business , including those arising out of alleged defects , breach of contracts , competition and antitrust matters , product warranties , intellectual property matters , personal injury claims and employment-related matters .it is our opinion that the outcome of such matters will not have a material adverse impact on our consolidated financial position , results of operations , or cash flows .with respect to warranty matters , although we cannot ensure that the future costs of warranty claims by customers will not be material , we believe our established reserves are adequate to cover potential warranty settlements .however , the final amounts required to resolve these matters could differ materially from our recorded estimates .gm ignition switch recall in the first quarter of 2014 , gm , delphi 2019s largest customer , initiated a product recall related to ignition switches .delphi received requests for information from , and cooperated with , various government agencies related to this ignition switch recall .in addition , delphi was initially named as a co-defendant along with gm ( and in certain cases other parties ) in class action and product liability lawsuits related to this matter .as of december 31 , 2015 , delphi was not named as a defendant in any class action complaints .although no assurances can be made as to the ultimate outcome of these or any other future claims , delphi does not believe a loss is probable and , accordingly , no reserve has been made as of december 31 , 2015 .unsecured creditors litigation the fourth amended and restated limited liability partnership agreement of delphi automotive llp ( the 201cfourth llp agreement 201d ) was entered into on july 12 , 2011 by the members of delphi automotive llp in order to position the company for its initial public offering .under the terms of the fourth llp agreement , if cumulative distributions to the members of delphi automotive llp under certain provisions of the fourth llp agreement exceed $ 7.2 billion , delphi , as disbursing agent on behalf of dphh , is required to pay to the holders of allowed general unsecured claims against dphh $ 32.50 for every $ 67.50 in excess of $ 7.2 billion distributed to the members , up to a maximum amount of $ 300 million .in december 2014 , a complaint was filed in the bankruptcy court alleging that the redemption by delphi automotive llp of the membership interests of gm and the pbgc , and the repurchase of shares and payment of dividends by delphi automotive plc , constituted distributions under the terms of the fourth llp agreement approximating $ 7.2 billion .delphi considers cumulative .
|
what percentage of major manufacturing sites are in asia pacific?
|
26%
|
{
"answer": "26%",
"decimal": 0.26,
"type": "percentage"
}
| |
our overall gross margin percentage decreased to 59.8% ( 59.8 % ) in 2013 from 62.1% ( 62.1 % ) in 2012 .the decrease in the gross margin percentage was primarily due to the gross margin percentage decrease in pccg .we derived most of our overall gross margin dollars in 2013 and 2012 from the sale of platforms in the pccg and dcg operating segments .our net revenue for 2012 , which included 52 weeks , decreased by $ 658 million , or 1% ( 1 % ) , compared to 2011 , which included 53 weeks .the pccg and dcg platform unit sales decreased 1% ( 1 % ) while average selling prices were unchanged .additionally , lower netbook platform unit sales and multi-comm average selling prices , primarily discrete modems , contributed to the decrease .these decreases were partially offset by our mcafee operating segment , which we acquired in the q1 2011 .mcafee contributed $ 469 million of additional revenue in 2012 compared to 2011 .our overall gross margin dollars for 2012 decreased by $ 606 million , or 2% ( 2 % ) , compared to 2011 .the decrease was due in large part to $ 494 million of excess capacity charges , as well as lower revenue from the pccg and dcg platform .to a lesser extent , approximately $ 390 million of higher unit costs on the pccg and dcg platform as well as lower netbook and multi-comm revenue contributed to the decrease .the decrease was partially offset by $ 643 million of lower factory start-up costs as we transition from our 22nm process technology to r&d of our next- generation 14nm process technology , as well as $ 422 million of charges recorded in 2011 to repair and replace materials and systems impacted by a design issue related to our intel ae 6 series express chipset family .the decrease was also partially offset by the two additional months of results from our acquisition of mcafee , which occurred on february 28 , 2011 , contributing approximately $ 334 million of additional gross margin dollars in 2012 compared to 2011 .the amortization of acquisition-related intangibles resulted in a $ 557 million reduction to our overall gross margin dollars in 2012 , compared to $ 482 million in 2011 , primarily due to acquisitions completed in q1 2011 .our overall gross margin percentage in 2012 was flat from 2011 as higher excess capacity charges and higher unit costs on the pccg and dcg platform were offset by lower factory start-up costs and no impact in 2012 for a design issue related to our intel 6 series express chipset family .we derived a substantial majority of our overall gross margin dollars in 2012 and 2011 from the sale of platforms in the pccg and dcg operating segments .pc client group the revenue and operating income for the pccg operating segment for each period were as follows: .
[['( in millions )', '2013', '2012', '2011'], ['net revenue', '$ 33039', '$ 34504', '$ 35624'], ['operating income', '$ 11827', '$ 13106', '$ 14840']]
net revenue for the pccg operating segment decreased by $ 1.5 billion , or 4% ( 4 % ) , in 2013 compared to 2012 .pccg platform unit sales were down 3% ( 3 % ) primarily on softness in traditional pc demand during the first nine months of the year .the decrease in revenue was driven by lower notebook and desktop platform unit sales which were down 4% ( 4 % ) and 2% ( 2 % ) , respectively .pccg platform average selling prices were flat , with 6% ( 6 % ) higher desktop platform average selling prices offset by 4% ( 4 % ) lower notebook platform average selling prices .operating income decreased by $ 1.3 billion , or 10% ( 10 % ) , in 2013 compared to 2012 , which was driven by $ 1.5 billion of lower gross margin , partially offset by $ 200 million of lower operating expenses .the decrease in gross margin was driven by $ 1.5 billion of higher factory start-up costs primarily on our next-generation 14nm process technology as well as lower pccg platform revenue .these decreases were partially offset by approximately $ 520 million of lower pccg platform unit costs , $ 260 million of lower excess capacity charges , and higher sell-through of previously non- qualified units .net revenue for the pccg operating segment decreased by $ 1.1 billion , or 3% ( 3 % ) , in 2012 compared to 2011 .pccg revenue was negatively impacted by the growth of tablets as these devices compete with pcs for consumer sales .platform average selling prices and unit sales decreased 2% ( 2 % ) and 1% ( 1 % ) , respectively .the decrease was driven by 6% ( 6 % ) lower notebook platform average selling prices and 5% ( 5 % ) lower desktop platform unit sales .these decreases were partially offset by a 4% ( 4 % ) increase in desktop platform average selling prices and a 2% ( 2 % ) increase in notebook platform unit sales .table of contents management 2019s discussion and analysis of financial condition and results of operations ( continued ) .
|
in 2013 what was the operating margin
|
35.8%
|
{
"answer": "35.8%",
"decimal": 0.358,
"type": "percentage"
}
|
in 2013 the operating margin was 35.8%
|
bank holding companies and banks must have basel i capital ratios of at least 6% ( 6 % ) for tier 1 risk-based , 10% ( 10 % ) for total risk- based , and 5% ( 5 % ) for leverage .the basel ii framework , which was adopted by the basel committee on banking supervision in 2004 , seeks to provide more risk-sensitive regulatory capital calculations and promote enhanced risk management practices among large , internationally active banking organizations .the u.s .banking agencies initially adopted rules to implement the basel ii capital framework in 2004 .in july 2013 , the u.s .banking agencies adopted final rules ( referred to as the advanced approaches ) that modified the basel ii framework effective january 1 , 2014 .see item 1 business 2013 supervision and regulation and item 1a risk factors in this report .prior to fully implementing the advanced approaches established by these rules to calculate risk-weighted assets , pnc and pnc bank , n.a .must successfully complete a 201cparallel run 201d qualification phase .both pnc and pnc bank , n.a .entered this parallel run phase under the basel ii capital framework on january 1 , 2013 .this phase must last at least four consecutive quarters , although , consistent with the experience of other u.s .banks , we currently anticipate a multi-year parallel run period .in july 2013 , the u.s .banking agencies also adopted final rules that : ( i ) materially modify the definition of , and required deductions from , regulatory capital ( referred to as the basel iii rule ) ; and ( ii ) revise the framework for the risk-weighting of assets under basel i ( referred to as the standardized approach ) .the basel iii rule became effective for pnc on january 1 , 2014 , although many of its provisions are phased-in over a period of years , with the rules generally becoming fully effective on january 1 , 2019 .the standardized approach rule becomes effective on january 1 , 2015 .tier 1 common capital as defined under the basel iii rule differs materially from basel i .for example , under basel iii , significant common stock investments in unconsolidated financial institutions , mortgage servicing rights and deferred tax assets must be deducted from capital to the extent they individually exceed 10% ( 10 % ) , or in the aggregate exceed 15% ( 15 % ) , of the institution 2019s adjusted tier 1 common capital .also , basel i regulatory capital excludes other comprehensive income related to both available for sale securities and pension and other postretirement plans , whereas under basel iii these items are a component of pnc 2019s capital .the basel iii final rule also eliminates the tier 1 treatment of trust preferred securities for bank holding companies with $ 15 billion or more in assets .in the third quarter of 2013 , we concluded our redemptions of the discounted trust preferred securities assumed through acquisitions .see item 1 business- supervision and regulation and note 14 capital securities of subsidiary trusts and perpetual trust securities in the notes to consolidated financial statements in item 8 of this report for additional discussion of our previous redemptions of trust preferred securities .we provide information below regarding pnc 2019s pro forma fully phased-in basel iii tier 1 common capital ratio under both the advanced approaches and standardized approach frameworks and how it differs from the basel i tier 1 common capital ratios shown in table 18 above .after pnc exits parallel run , its regulatory basel iii risk-based capital ratios will be the lower of the ratios as calculated under the standardized and advanced approaches .table 19 : estimated pro forma fully phased-in basel iii tier 1 common capital ratio dollars in millions december 31 december 31 .
[['dollars in millions', 'december 31 2013', 'december 31 2012'], ['basel i tier 1 common capital', '$ 28484', '$ 24951'], ['less regulatory capital adjustments:', '', ''], ['basel iii quantitative limits', '-1386 ( 1386 )', '-2330 ( 2330 )'], ['accumulated other comprehensive income ( a )', '196', '276'], ['all other adjustments', '162', '-396 ( 396 )'], ['estimated fully phased-in basel iii tier 1 common capital', '$ 27456', '$ 22501'], ['estimated basel iii advanced approaches risk-weighted assets', '290080', '301006'], ['pro forma fully phased-in basel iii advanced approaches tier 1 common capitalratio', '9.5% ( 9.5 % )', '7.5% ( 7.5 % )'], ['estimated basel iii standardized approach risk-weighted assets', '291977', 'n/a'], ['pro forma fully phased-in basel iii standardized approach tier 1 common capitalratio', '9.4% ( 9.4 % )', 'n/a']]
estimated fully phased-in basel iii tier 1 common capital $ 27456 $ 22501 estimated basel iii advanced approaches risk-weighted assets 290080 301006 pro forma fully phased-in basel iii advanced approaches tier 1 common capital ratio 9.5% ( 9.5 % ) 7.5% ( 7.5 % ) estimated basel iii standardized approach risk-weighted assets 291977 n/a pro forma fully phased-in basel iii standardized approach tier 1 common capital ratio 9.4% ( 9.4 % ) n/a ( a ) represents net adjustments related to accumulated other comprehensive income for available for sale securities and pension and other postretirement benefit plans .basel iii advanced approaches risk-weighted assets were estimated based on the advanced approaches rules and application of basel ii.5 , and reflect credit , market and operational risk .basel iii standardized approach risk- weighted assets were estimated based on the standardized approach rules and reflect credit and market risk .as a result of the staggered effective dates of the final u.s .capital rules issued in july 2013 , as well as the fact that pnc remains in the parallel run qualification phase for the advanced approaches , pnc 2019s regulatory risk-based capital ratios in 2014 will be based on the definitions of , and deductions from , capital under basel iii ( as such definitions and deductions are phased-in for 2014 ) and basel i risk- weighted assets ( but subject to certain adjustments as defined by the basel iii rules ) .we refer to the capital ratios calculated using these basel iii phased-in provisions and basel i risk- weighted assets as the transitional basel iii ratios .we provide in the table below a pro forma illustration of the basel iii transitional tier i common capital ratio using december 31 , 2013 data and the basel iii phase-in schedule in effect for 2014 .the pnc financial services group , inc .2013 form 10-k 47 .
|
in 2013 what was the ratio of the basel iii tier 1 common capital to the basel i tier 1 common capital
|
0.96
|
{
"answer": "0.96",
"decimal": 0.96,
"type": "float"
}
| |
holding other assumptions constant , the following table reflects what a one hundred basis point increase and decrease in our estimated long-term rate of return on plan assets would have on our estimated 2011 pension expense ( in millions ) : change in long-term rate of return on plan assets .
[['increase ( decrease ) in expense', 'change in long-term rateof return on plan assets increase', 'change in long-term rateof return on plan assets decrease'], ['u.s . plans', '$ -14 ( 14 )', '$ 14'], ['u.k . plans', '-35 ( 35 )', '35'], ['the netherlands plan', '-5 ( 5 )', '5'], ['canada plans', '-2 ( 2 )', '2']]
estimated future contributions we estimate contributions of approximately $ 403 million in 2011 as compared with $ 288 million in goodwill and other intangible assets goodwill represents the excess of cost over the fair market value of the net assets acquired .we classify our intangible assets acquired as either trademarks , customer relationships , technology , non-compete agreements , or other purchased intangibles .our goodwill and other intangible balances at december 31 , 2010 increased to $ 8.6 billion and $ 3.6 billion , respectively , compared to $ 6.1 billion and $ 791 million , respectively , at december 31 , 2009 , primarily as a result of the hewitt acquisition .although goodwill is not amortized , we test it for impairment at least annually in the fourth quarter .in the fourth quarter , we also test acquired trademarks ( which also are not amortized ) for impairment .we test more frequently if there are indicators of impairment or whenever business circumstances suggest that the carrying value of goodwill or trademarks may not be recoverable .these indicators may include a sustained significant decline in our share price and market capitalization , a decline in our expected future cash flows , or a significant adverse change in legal factors or in the business climate , among others .no events occurred during 2010 or 2009 that indicate the existence of an impairment with respect to our reported goodwill or trademarks .we perform impairment reviews at the reporting unit level .a reporting unit is an operating segment or one level below an operating segment ( referred to as a 2018 2018component 2019 2019 ) .a component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component .an operating segment shall be deemed to be a reporting unit if all of its components are similar , if none of its components is a reporting unit , or if the segment comprises only a single component .the goodwill impairment test is a two step analysis .step one requires the fair value of each reporting unit to be compared to its book value .management must apply judgment in determining the estimated fair value of the reporting units .if the fair value of a reporting unit is determined to be greater than the carrying value of the reporting unit , goodwill and trademarks are deemed not to be impaired and no further testing is necessary .if the fair value of a reporting unit is less than the carrying value , we perform step two .step two uses the calculated fair value of the reporting unit to perform a hypothetical purchase price allocation to the fair value of the assets and liabilities of the reporting unit .the difference between the fair value of the reporting unit calculated in step one and the fair value of the underlying assets and liabilities of the reporting unit is the implied fair value of the reporting unit 2019s goodwill .a charge is recorded in the financial statements if the carrying value of the reporting unit 2019s goodwill is greater than its implied fair value. .
|
what is the total change in long-term rate of return on plan assets if there is an decrease of one hundred basis point?
|
56
|
{
"answer": "56",
"decimal": 56,
"type": "float"
}
| |
performance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 25 , 2009 through october 26 , 2014 .this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period .the comparison assumes $ 100 was invested on october 25 , 2009 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any .dollar amounts in the graph are rounded to the nearest whole dollar .the performance shown in the graph represents past performance and should not be considered an indication of future performance .comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index 201cs&p 201d is a registered trademark of standard & poor 2019s financial services llc , a subsidiary of the mcgraw-hill companies , inc. .
[['', '10/25/2009', '10/31/2010', '10/30/2011', '10/28/2012', '10/27/2013', '10/26/2014'], ['applied materials', '100.00', '97.43', '101.85', '88.54', '151.43', '183.29'], ['s&p 500 index', '100.00', '116.52', '125.94', '145.09', '184.52', '216.39'], ['rdg semiconductor composite index', '100.00', '121.00', '132.42', '124.95', '163.20', '207.93']]
dividends during fiscal 2014 , applied 2019s board of directors declared four quarterly cash dividends of $ 0.10 per share each .during fiscal 2013 , applied 2019s board of directors declared three quarterly cash dividends of $ 0.10 per share each and one quarterly cash dividend of $ 0.09 per share .during fiscal 2012 , applied 2019s board of directors declared three quarterly cash dividends of $ 0.09 per share each and one quarterly cash dividend of $ 0.08 .dividends declared during fiscal 2014 , 2013 and 2012 totaled $ 487 million , $ 469 million and $ 438 million , respectively .applied currently anticipates that it will continue to pay cash dividends on a quarterly basis in the future , although the declaration and amount of any future cash dividends are at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination that cash dividends are in the best interests of applied 2019s stockholders .$ 100 invested on 10/25/09 in stock or 10/31/09 in index , including reinvestment of dividends .indexes calculated on month-end basis .and the rdg semiconductor composite index 183145 97 102 121 132 10/25/09 10/31/10 10/30/11 10/28/12 10/27/13 10/26/14 applied materials , inc .s&p 500 rdg semiconductor composite .
|
how much more return was given for investing in the overall market rather than applied materials from 2009 to 2014 ? ( in a percentage )
|
33.1%
|
{
"answer": "33.1%",
"decimal": 0.331,
"type": "percentage"
}
|
to figure out the percentage return , we need to find out how much each one grew over the years first . one can do this by subtracting by 100 and making that number a percentage because we started at 100 . then we subtract the two percentages to find out how much more return one stock gave us .
|
12 .brokerage receivables and brokerage payables the company has receivables and payables for financial instruments sold to and purchased from brokers , dealers and customers , which arise in the ordinary course of business .citi is exposed to risk of loss from the inability of brokers , dealers or customers to pay for purchases or to deliver the financial instruments sold , in which case citi would have to sell or purchase the financial instruments at prevailing market prices .credit risk is reduced to the extent that an exchange or clearing organization acts as a counterparty to the transaction and replaces the broker , dealer or customer in question .citi seeks to protect itself from the risks associated with customer activities by requiring customers to maintain margin collateral in compliance with regulatory and internal guidelines .margin levels are monitored daily , and customers deposit additional collateral as required .where customers cannot meet collateral requirements , citi may liquidate sufficient underlying financial instruments to bring the customer into compliance with the required margin level .exposure to credit risk is impacted by market volatility , which may impair the ability of clients to satisfy their obligations to citi .credit limits are established and closely monitored for customers and for brokers and dealers engaged in forwards , futures and other transactions deemed to be credit sensitive .brokerage receivables and brokerage payables consisted of the following: .
[['in millions of dollars', 'december 31 , 2018', 'december 31 , 2017'], ['receivables from customers', '$ 14415', '$ 19215'], ['receivables from brokers dealers and clearing organizations', '21035', '19169'], ['total brokerage receivables ( 1 )', '$ 35450', '$ 38384'], ['payables to customers', '$ 40273', '$ 38741'], ['payables to brokers dealers and clearing organizations', '24298', '22601'], ['total brokerage payables ( 1 )', '$ 64571', '$ 61342']]
total brokerage payables ( 1 ) $ 64571 $ 61342 ( 1 ) includes brokerage receivables and payables recorded by citi broker-dealer entities that are accounted for in accordance with the aicpa accounting guide for brokers and dealers in securities as codified in asc 940-320. .
|
in 2018 what was the ratio of the total brokerage payables to total brokerage receivables
|
1.8
|
{
"answer": "1.8",
"decimal": 1.8,
"type": "float"
}
|
in 2018 there was $ 1.8 total brokerage payables for each total brokerage receivable
|
competitive supply aes 2019s competitive supply line of business consists of generating facilities that sell electricity directly to wholesale customers in competitive markets .additionally , as compared to the contract generation segment discussed above , these generating facilities generally sell less than 75% ( 75 % ) of their output pursuant to long-term contracts with pre-determined pricing provisions and/or sell into power pools , under shorter-term contracts or into daily spot markets .the prices paid for electricity under short-term contracts and in the spot markets are unpredictable and can be , and from time to time have been , volatile .the results of operations of aes 2019s competitive supply business are also more sensitive to the impact of market fluctuations in the price of electricity , natural gas , coal and other raw materials .in the united kingdom , txu europe entered administration in november 2002 and is no longer performing under its contracts with drax and barry .as described in the footnotes and in other sections of the discussion and analysis of financial condition and results of operations , txu europe 2019s failure to perform under its contracts has had a material adverse effect on the results of operations of these businesses .two aes competitive supply businesses , aes wolf hollow , l.p .and granite ridge have fuel supply agreements with el paso merchant energy l.p .an affiliate of el paso corp. , which has encountered financial difficulties .the company does not believe the financial difficulties of el paso corp .will have a material adverse effect on el paso merchant energy l.p . 2019s performance under the supply agreement ; however , there can be no assurance that a further deterioration in el paso corp 2019s financial condition will not have a material adverse effect on the ability of el paso merchant energy l.p .to perform its obligations .while el paso corp 2019s financial condition may not have a material adverse effect on el paso merchant energy , l.p .at this time , it could lead to a default under the aes wolf hollow , l.p . 2019s fuel supply agreement , in which case aes wolf hollow , l.p . 2019s lenders may seek to declare a default under its credit agreements .aes wolf hollow , l.p .is working in concert with its lenders to explore options to avoid such a default .the revenues from our facilities that distribute electricity to end-use customers are generally subject to regulation .these businesses are generally required to obtain third party approval or confirmation of rate increases before they can be passed on to the customers through tariffs .these businesses comprise the large utilities and growth distribution segments of the company .revenues from contract generation and competitive supply are not regulated .the distribution of revenues between the segments for the years ended december 31 , 2002 , 2001 and 2000 is as follows: .
[['', '2002', '2001', '2000'], ['large utilities', '36% ( 36 % )', '21% ( 21 % )', '22% ( 22 % )'], ['growth distribution', '14% ( 14 % )', '21% ( 21 % )', '21% ( 21 % )'], ['contract generation', '29% ( 29 % )', '32% ( 32 % )', '27% ( 27 % )'], ['competitive supply', '21% ( 21 % )', '26% ( 26 % )', '30% ( 30 % )']]
development costs certain subsidiaries and affiliates of the company ( domestic and non-u.s. ) are in various stages of developing and constructing greenfield power plants , some but not all of which have signed long-term contracts or made similar arrangements for the sale of electricity .successful completion depends upon overcoming substantial risks , including , but not limited to , risks relating to failures of siting , financing , construction , permitting , governmental approvals or the potential for termination of the power sales contract as a result of a failure to meet certain milestones .as of december 31 , 2002 , capitalized costs for projects under development and in early stage construction were approximately $ 15 million and capitalized costs for projects under construction were approximately $ 3.2 billion .the company believes .
|
for the years 2002 , 2001 , and 2000 , what was the average distribution of revenue to the large utilities segment?
|
26.3%
|
{
"answer": "26.3%",
"decimal": 0.263,
"type": "percentage"
}
| |
during the year ended december 31 , 2011 , we granted 354660 performance share units having a fair value based on our grant date closing stock price of $ 28.79 .these units are payable in stock and are subject to certain financial performance criteria .the fair value of these performance share unit awards is based on the grant date closing stock price of each respective award grant and will apply to the number of units ultimately awarded .the number of shares ultimately issued for each award will be based on our financial performance as compared to peer group companies over the performance period and can range from zero to 200% ( 200 % ) .as of december 31 , 2011 , estimated share payouts for outstanding non-vested performance share unit awards ranged from 150% ( 150 % ) to 195% ( 195 % ) .for the legacy frontier performance share units assumed at july 1 , 2011 , performance is based on market performance criteria , which is calculated as the total shareholder return achieved by hollyfrontier stockholders compared with the average shareholder return achieved by an equally-weighted peer group of independent refining companies over a three-year period .these share unit awards are payable in stock based on share price performance relative to the defined peer group and can range from zero to 125% ( 125 % ) of the initial target award .these performance share units were valued at july 1 , 2011 using a monte carlo valuation model , which simulates future stock price movements using key inputs including grant date and measurement date stock prices , expected stock price performance , expected rate of return and volatility of our stock price relative to the peer group over the three-year performance period .the fair value of these performance share units at july 1 , 2011 was $ 8.6 million .of this amount , $ 7.3 million relates to post-merger services and will be recognized ratably over the remaining service period through 2013 .a summary of performance share unit activity and changes during the year ended december 31 , 2011 is presented below: .
[['performance share units', 'grants'], ['outstanding at january 1 2011 ( non-vested )', '556186'], ['granted ( 1 )', '354660'], ['vesting and transfer of ownership to recipients', '-136058 ( 136058 )'], ['outstanding at december 31 2011 ( non-vested )', '774788']]
( 1 ) includes 225116 non-vested performance share grants under the legacy frontier plan that were outstanding and retained by hollyfrontier at july 1 , 2011 .for the year ended december 31 , 2011 we issued 178148 shares of our common stock having a fair value of $ 2.6 million related to vested performance share units .based on the weighted average grant date fair value of $ 20.71 there was $ 11.7 million of total unrecognized compensation cost related to non-vested performance share units .that cost is expected to be recognized over a weighted-average period of 1.1 years .note 7 : cash and cash equivalents and investments in marketable securities our investment portfolio at december 31 , 2011 consisted of cash , cash equivalents and investments in debt securities primarily issued by government and municipal entities .we also hold 1000000 shares of connacher oil and gas limited common stock that was received as partial consideration upon the sale of our montana refinery in we invest in highly-rated marketable debt securities , primarily issued by government and municipal entities that have maturities at the date of purchase of greater than three months .we also invest in other marketable debt securities with the maximum maturity or put date of any individual issue generally not greater than two years from the date of purchase .all of these instruments , including investments in equity securities , are classified as available- for-sale .as a result , they are reported at fair value using quoted market prices .interest income is recorded as earned .unrealized gains and losses , net of related income taxes , are reported as a component of accumulated other comprehensive income .upon sale , realized gains and losses on the sale of marketable securities are computed based on the specific identification of the underlying cost of the securities sold and the unrealized gains and losses previously reported in other comprehensive income are reclassified to current earnings. .
|
what percentage of july 2011 performance shares does not relate to post-merger services?
|
15.1%
|
{
"answer": "15.1%",
"decimal": 0.151,
"type": "percentage"
}
| |
unit shipments increased 49% ( 49 % ) to 217.4 million units in 2006 , compared to 146.0 million units in 2005 .the overall increase was driven by increased unit shipments of products for gsm , cdma and 3g technologies , partially offset by decreased unit shipments of products for iden technology .for the full year 2006 , unit shipments by the segment increased in all regions .due to the segment 2019s increase in unit shipments outpacing overall growth in the worldwide handset market , which grew approximately 20% ( 20 % ) in 2006 , the segment believes that it expanded its global handset market share to an estimated 22% ( 22 % ) for the full year 2006 .in 2006 , asp decreased approximately 11% ( 11 % ) compared to 2005 .the overall decrease in asp was driven primarily by changes in the geographic and product-tier mix of sales .by comparison , asp decreased approximately 10% ( 10 % ) in 2005 and increased approximately 15% ( 15 % ) in 2004 .asp is impacted by numerous factors , including product mix , market conditions and competitive product offerings , and asp trends often vary over time .in 2006 , the largest of the segment 2019s end customers ( including sales through distributors ) were china mobile , verizon , sprint nextel , cingular , and t-mobile .these five largest customers accounted for approximately 39% ( 39 % ) of the segment 2019s net sales in 2006 .besides selling directly to carriers and operators , the segment also sold products through a variety of third-party distributors and retailers , which accounted for approximately 38% ( 38 % ) of the segment 2019s net sales .the largest of these distributors was brightstar corporation .although the u.s .market continued to be the segment 2019s largest individual market , many of our customers , and more than 65% ( 65 % ) of the segment 2019s 2006 net sales , were outside the u.s .the largest of these international markets were china , brazil , the united kingdom and mexico .home and networks mobility segment the home and networks mobility segment designs , manufactures , sells , installs and services : ( i ) digital video , internet protocol ( 201cip 201d ) video and broadcast network interactive set-tops ( 201cdigital entertainment devices 201d ) , end-to- end video delivery solutions , broadband access infrastructure systems , and associated data and voice customer premise equipment ( 201cbroadband gateways 201d ) to cable television and telecom service providers ( collectively , referred to as the 201chome business 201d ) , and ( ii ) wireless access systems ( 201cwireless networks 201d ) , including cellular infrastructure systems and wireless broadband systems , to wireless service providers .in 2007 , the segment 2019s net sales represented 27% ( 27 % ) of the company 2019s consolidated net sales , compared to 21% ( 21 % ) in 2006 and 26% ( 26 % ) in 2005 .( dollars in millions ) 2007 2006 2005 2007 20142006 2006 20142005 years ended december 31 percent change .
[['( dollars in millions )', 'years ended december 31 2007', 'years ended december 31 2006', 'years ended december 31 2005', 'years ended december 31 2007 20142006', '2006 20142005'], ['segment net sales', '$ 10014', '$ 9164', '$ 9037', '9% ( 9 % )', '1% ( 1 % )'], ['operating earnings', '709', '787', '1232', '( 10 ) % ( % )', '( 36 ) % ( % )']]
segment results 20142007 compared to 2006 in 2007 , the segment 2019s net sales increased 9% ( 9 % ) to $ 10.0 billion , compared to $ 9.2 billion in 2006 .the 9% ( 9 % ) increase in net sales reflects a 27% ( 27 % ) increase in net sales in the home business , partially offset by a 1% ( 1 % ) decrease in net sales of wireless networks .net sales of digital entertainment devices increased approximately 43% ( 43 % ) , reflecting increased demand for digital set-tops , including hd/dvr set-tops and ip set-tops , partially offset by a decline in asp due to a product mix shift towards all-digital set-tops .unit shipments of digital entertainment devices increased 51% ( 51 % ) to 15.2 million units .net sales of broadband gateways increased approximately 6% ( 6 % ) , primarily due to higher net sales of data modems , driven by net sales from the netopia business acquired in february 2007 .net sales of wireless networks decreased 1% ( 1 % ) , primarily driven by lower net sales of iden and cdma infrastructure equipment , partially offset by higher net sales of gsm infrastructure equipment , despite competitive pricing pressure .on a geographic basis , the 9% ( 9 % ) increase in net sales reflects higher net sales in all geographic regions .the increase in net sales in north america was driven primarily by higher sales of digital entertainment devices , partially offset by lower net sales of iden and cdma infrastructure equipment .the increase in net sales in asia was primarily due to higher net sales of gsm infrastructure equipment , partially offset by lower net sales of cdma infrastructure equipment .the increase in net sales in emea was , primarily due to higher net sales of gsm infrastructure equipment , partially offset by lower demand for iden and cdma infrastructure equipment .net sales in north america continue to comprise a significant portion of the segment 2019s business , accounting for 52% ( 52 % ) of the segment 2019s total net sales in 2007 , compared to 56% ( 56 % ) of the segment 2019s total net sales in 2006 .60 management 2019s discussion and analysis of financial condition and results of operations .
|
what was the growth , in a percentage , of the consolidated net sales from 2005 to 2007?
|
15%
|
{
"answer": "15%",
"decimal": 0.15,
"type": "percentage"
}
|
in line 17 it said the percentage of total segmented sales relative to consolidated net sales . you take this percentage and multiple it by the segmented net sales to get the consolidated net sales . then you must take these two products and subtract them from each other . this product is then divided by the the consolidated net sales in 2005 .
|
entergy gulf states louisiana , l.l.c .management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities .results of operations net income 2011 compared to 2010 net income increased $ 12.3 million primarily due to lower interest expense and lower other operation and maintenance expenses , offset by higher depreciation and amortization expenses and a higher effective income tax 2010 compared to 2009 net income increased $ 37.7 million primarily due to higher net revenue , a lower effective income tax rate , and lower interest expense , offset by higher other operation and maintenance expenses , lower other income , and higher taxes other than income taxes .net revenue 2011 compared to 2010 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory credits .following is an analysis of the change in net revenue comparing 2011 to 2010 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2010 net revenue', '$ 933.6'], ['retail electric price', '-20.1 ( 20.1 )'], ['volume/weather', '-5.2 ( 5.2 )'], ['fuel recovery', '14.8'], ['transmission revenue', '12.4'], ['other', '-2.1 ( 2.1 )'], ['2011 net revenue', '$ 933.4']]
the retail electric price variance is primarily due to an increase in credits passed on to customers as a result of the act 55 storm cost financing .see 201cmanagement 2019s financial discussion and analysis 2013 hurricane gustav and hurricane ike 201d and note 2 to the financial statements for a discussion of the act 55 storm cost financing .the volume/weather variance is primarily due to less favorable weather on the residential sector as well as the unbilled sales period .the decrease was partially offset by an increase of 62 gwh , or 0.3% ( 0.3 % ) , in billed electricity usage , primarily due to increased consumption by an industrial customer as a result of the customer 2019s cogeneration outage and the addition of a new production unit by the industrial customer .the fuel recovery variance resulted primarily from an adjustment to deferred fuel costs in 2010 .see note 2 to the financial statements for a discussion of fuel recovery. .
|
by what percentage point did the net income margin improve in 2011?
|
1.3
|
{
"answer": "1.3",
"decimal": 1.3,
"type": "float"
}
| |
there are inherent limitations on the effectiveness of our controls .we do not expect that our disclosure controls or our internal control over financial reporting will prevent or detect all errors and all fraud .a control system , no matter how well-designed and operated , can provide only reasonable , not absolute , assurance that the control system 2019s objectives will be met .the design of a control system must reflect the fact that resource constraints exist , and the benefits of controls must be considered relative to their costs .further , because of the inherent limitations in all control systems , no evaluation of controls can provide absolute assurance that misstatements due to error or fraud will not occur or that all control issues and instances of fraud , if any , have been detected .the design of any system of controls is based in part on certain assumptions about the likelihood of future events , and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions .projections of any evaluation of the effectiveness of controls to future periods are subject to risks .over time , controls may become inadequate due to changes in conditions or deterioration in the degree of compliance with policies or procedures .if our controls become inadequate , we could fail to meet our financial reporting obligations , our reputation may be adversely affected , our business and operating results could be harmed , and the market price of our stock could decline .item 1b .unresolved staff comments not applicable .item 2 .properties as of december 31 , 2016 , our major facilities consisted of : ( square feet in millions ) united states countries total owned facilities1 ..........................................................31.5 19.2 50.7 leased facilities2 ..........................................................2.5 7.1 9.6 .
[['( square feet in millions )', 'unitedstates', 'othercountries', 'total'], ['owned facilities1', '31.5', '19.2', '50.7'], ['leased facilities2', '2.5', '7.1', '9.6'], ['total facilities', '34.0', '26.3', '60.3']]
1 leases and municipal grants on portions of the land used for these facilities expire on varying dates through 2109 .2 leases expire on varying dates through 2058 and generally include renewals at our option .our principal executive offices are located in the u.s .and the majority of our wafer manufacturing activities in 2016 were also located in the u.s .one of our arizona wafer fabrication facilities is currently on hold and held in a safe state , and we are reserving the building for additional capacity and future technologies .incremental construction and equipment installation are required to ready the facility for its intended use .for more information on our wafer fabrication and our assembly and test facilities , see 201cmanufacturing and assembly and test 201d in part i , item 1 of this form 10-k .we believe that the facilities described above are suitable and adequate for our present purposes and that the productive capacity in our facilities is substantially being utilized or we have plans to utilize it .we do not identify or allocate assets by operating segment .for information on net property , plant and equipment by country , see 201cnote 4 : operating segments and geographic information 201d in part ii , item 8 of this form 10-k .item 3 .legal proceedings for a discussion of legal proceedings , see 201cnote 20 : commitments and contingencies 201d in part ii , item 8 of this form 10-k .item 4 .mine safety disclosures not applicable. .
|
as of december 31 , 2016 what percentage by square feet of major facilities are owned?
|
84%
|
{
"answer": "84%",
"decimal": 0.84,
"type": "percentage"
}
| |
notes to the consolidated financial statements 40 2016 ppg annual report and form 10-k 1 .summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc .( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s .and non-u.s. , that it controls .ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls .for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests .investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting .as a result , ppg 2019s share of the earnings or losses of such equity affiliates is included in the accompanying consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in 201cinvestments 201d in the accompanying consolidated balance sheet .transactions between ppg and its subsidiaries are eliminated in consolidation .use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s .generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period .such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated .actual outcomes could differ from those estimates .revenue recognition the company recognizes revenue when the earnings process is complete .revenue is recognized by all operating segments when goods are shipped and title to inventory and risk of loss passes to the customer or when services have been rendered .shipping and handling costs amounts billed to customers for shipping and handling are reported in 201cnet sales 201d in the accompanying consolidated statement of income .shipping and handling costs incurred by the company for the delivery of goods to customers are included in 201ccost of sales , exclusive of depreciation and amortization 201d in the accompanying consolidated statement of income .selling , general and administrative costs amounts presented as 201cselling , general and administrative 201d in the accompanying consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate- wide functional support in such areas as finance , law , human resources and planning .distribution costs pertain to the movement and storage of finished goods inventory at company- owned and leased warehouses and other distribution facilities .advertising costs advertising costs are expensed as incurred and totaled $ 322 million , $ 324 million and $ 297 million in 2016 , 2015 and 2014 , respectively .research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. .
[['( $ in millions )', '2016', '2015', '2014'], ['research and development 2013 total', '$ 487', '$ 494', '$ 499'], ['less depreciation on research facilities', '21', '18', '16'], ['research and development net', '$ 466', '$ 476', '$ 483']]
legal costs legal costs , primarily include costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes , are charged to expense as incurred .foreign currency translation the functional currency of most significant non-u.s .operations is their local currency .assets and liabilities of those operations are translated into u.s .dollars using year-end exchange rates ; income and expenses are translated using the average exchange rates for the reporting period .unrealized foreign currency translation adjustments are deferred in accumulated other comprehensive loss , a separate component of shareholders 2019 equity .cash equivalents cash equivalents are highly liquid investments ( valued at cost , which approximates fair value ) acquired with an original maturity of three months or less .short-term investments short-term investments are highly liquid , high credit quality investments ( valued at cost plus accrued interest ) that have stated maturities of greater than three months to one year .the purchases and sales of these investments are classified as investing activities in the consolidated statement of cash flows .marketable equity securities the company 2019s investment in marketable equity securities is recorded at fair market value and reported in 201cother current assets 201d and 201cinvestments 201d in the accompanying consolidated balance sheet with changes in fair market value recorded in income for those securities designated as trading securities and in other comprehensive income , net of tax , for those designated as available for sale securities. .
|
are r&d expenses greater than advertising costs in 2016?\\n
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
entergy mississippi may refinance , redeem , or otherwise retire debt and preferred stock prior to maturity , to the extent market conditions and interest and dividend rates are favorable .all debt and common and preferred stock issuances by entergy mississippi require prior regulatory approval . a0 a0preferred stock and debt issuances are also subject to issuance tests set forth in its corporate charter , bond indenture , and other agreements . a0 a0entergy mississippi has sufficient capacity under these tests to meet its foreseeable capital needs .entergy mississippi 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 )'], ['$ 1633', '$ 10595', '$ 25930', '$ 644']]
see note 4 to the financial statements for a description of the money pool .entergy mississippi has four separate credit facilities in the aggregate amount of $ 102.5 million scheduled to expire may 2018 .no borrowings were outstanding under the credit facilities as of december a031 , 2017 . a0 a0in addition , entergy mississippi is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations to miso .as of december a031 , 2017 , a $ 15.3 million letter of credit was outstanding under entergy mississippi 2019s uncommitted letter of credit facility .see note 4 to the financial statements for additional discussion of the credit facilities .entergy mississippi obtained authorizations from the ferc through october 2019 for short-term borrowings not to exceed an aggregate amount of $ 175 million at any time outstanding and long-term borrowings and security issuances .see note 4 to the financial statements for further discussion of entergy mississippi 2019s short-term borrowing limits .entergy mississippi , inc .management 2019s financial discussion and analysis state and local rate regulation and fuel-cost recovery the rates that entergy mississippi charges for electricity significantly influence its financial position , results of operations , and liquidity .entergy mississippi is regulated and the rates charged to its customers are determined in regulatory proceedings .a governmental agency , the mpsc , is primarily responsible for approval of the rates charged to customers .formula rate plan in march 2016 , entergy mississippi submitted its formula rate plan 2016 test year filing showing entergy mississippi 2019s projected earned return for the 2016 calendar year to be below the formula rate plan bandwidth .the filing showed a $ 32.6 million rate increase was necessary to reset entergy mississippi 2019s earned return on common equity to the specified point of adjustment of 9.96% ( 9.96 % ) , within the formula rate plan bandwidth .in june 2016 the mpsc approved entergy mississippi 2019s joint stipulation with the mississippi public utilities staff .the joint stipulation provided for a total revenue increase of $ 23.7 million .the revenue increase includes a $ 19.4 million increase through the formula rate plan , resulting in a return on common equity point of adjustment of 10.07% ( 10.07 % ) .the revenue increase also includes $ 4.3 million in incremental ad valorem tax expenses to be collected through an updated ad valorem tax adjustment rider .the revenue increase and ad valorem tax adjustment rider were effective with the july 2016 bills .in march 2017 , entergy mississippi submitted its formula rate plan 2017 test year filing and 2016 look-back filing showing entergy mississippi 2019s earned return for the historical 2016 calendar year and projected earned return for the 2017 calendar year to be within the formula rate plan bandwidth , resulting in no change in rates .in june 2017 , entergy mississippi and the mississippi public utilities staff entered into a stipulation that confirmed that entergy .
|
not including letters from the uncommitted facility , what percent of the borrowings allowance do the letters of credits set to expire may 2018 amount to?
|
58.57%
|
{
"answer": "58.57%",
"decimal": 0.5857,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) stock-based compensation 2014the company complies with the provisions of sfas no .148 , 201caccounting for stock-based compensation 2014transition and disclosure 2014an amendment of sfas no .123 , 201d which provides optional transition guidance for those companies electing to voluntarily adopt the accounting provisions of sfas no .123 .the company continues to use accounting principles board opinion no .25 ( apb no .25 ) , 201caccounting for stock issued to employees , 201d to account for equity grants and awards to employees , officers and directors and has adopted the disclosure-only provisions of sfas no .148 .in accordance with apb no .25 , the company recognizes compensation expense based on the excess , if any , of the quoted stock price at the grant date of the award or other measurement date over the amount an employee must pay to acquire the stock .the company 2019s stock option plans are more fully described in note 13 .in december 2004 , the fasb issued sfas no .123r , 201cshare-based payment 201d ( sfas no .123r ) , described below .the following table illustrates the effect on net loss and net loss per share if the company had applied the fair value recognition provisions of sfas no .123 ( as amended ) to stock-based compensation .the estimated fair value of each option is calculated using the black-scholes option-pricing model ( in thousands , except per share amounts ) : .
[['', '2004', '2003', '2002'], ['net loss as reported', '$ -247587 ( 247587 )', '$ -325321 ( 325321 )', '$ -1163540 ( 1163540 )'], ['add : stock-based employee compensation expense associated with modifications net of related tax effect included in net loss asreported', '2297', '2077', ''], ['less : total stock-based employee compensation expense determined under fair value based method for all awards net of related taxeffect', '-23906 ( 23906 )', '-31156 ( 31156 )', '-38126 ( 38126 )'], ['pro-forma net loss', '$ -269196 ( 269196 )', '$ -354400 ( 354400 )', '$ -1201666 ( 1201666 )'], ['basic and diluted net loss per share 2014as reported', '$ -1.10 ( 1.10 )', '$ -1.56 ( 1.56 )', '$ -5.95 ( 5.95 )'], ['basic and diluted net loss per share pro-forma', '$ -1.20 ( 1.20 )', '$ -1.70 ( 1.70 )', '$ -6.15 ( 6.15 )']]
during the year ended december 31 , 2004 and 2003 , the company modified certain option awards to accelerate vesting and recorded charges of $ 3.0 million and $ 2.3 million , respectively , and corresponding increases to additional paid in capital in the accompanying consolidated financial statements .fair value of financial instruments 2014the carrying values of the company 2019s financial instruments , with the exception of long-term obligations , including current portion , reasonably approximate the related fair values as of december 31 , 2004 and 2003 .as of december 31 , 2004 , the carrying amount and fair value of long-term obligations , including current portion , were $ 3.3 billion and $ 3.6 billion , respectively .as of december 31 , 2003 , the carrying amount and fair value of long-term obligations , including current portion , were $ 3.4 billion and $ 3.6 billion , respectively .fair values are based primarily on quoted market prices for those or similar instruments .retirement plan 2014the company has a 401 ( k ) plan covering substantially all employees who meet certain age and employment requirements .under the plan , the company matching contribution for periods prior to june 30 , 2004 was 35% ( 35 % ) up to a maximum 5% ( 5 % ) of a participant 2019s contributions .effective july 1 , 2004 , the plan was amended to increase the company match to 50% ( 50 % ) up to a maximum 6% ( 6 % ) of a participant 2019s contributions .the company contributed approximately $ 533000 , $ 825000 and $ 979000 to the plan for the years ended december 31 , 2004 , 2003 and 2002 , respectively .recent accounting pronouncements 2014in december 2004 , the fasb issued sfas no .123r , which is a revision of sfas no .123 , 201caccounting for stock-based compensation , 201d and supersedes apb no .25 , accounting for .
|
as of december 31 , 2004 , what was the ratio of the the carrying amount to the fair value of long-term obligations
|
0.91
|
{
"answer": "0.91",
"decimal": 0.91,
"type": "float"
}
| |
leases , was $ 92 million , $ 80 million , and $ 72 million in 2002 , 2001 , and 2000 , respectively .future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 28 , 2002 , are as follows ( in millions ) : concentrations in the available sources of supply of materials and product although certain components essential to the company's business are generally available from multiple sources , other key components ( including microprocessors and application-specific integrated circuits , or ( "asics" ) ) are currently obtained by the company from single or limited sources .some other key components , while currently available to the company from multiple sources , are at times subject to industry- wide availability and pricing pressures .in addition , the company uses some components that are not common to the rest of the personal computer industry , and new products introduced by the company often initially utilize custom components obtained from only one source until the company has evaluated whether there is a need for and subsequently qualifies additional suppliers .if the supply of a key single-sourced component to the company were to be delayed or curtailed or in the event a key manufacturing vendor delays shipments of completed products to the company , the company's ability to ship related products in desired quantities and in a timely manner could be adversely affected .the company's business and financial performance could also be adversely affected depending on the time required to obtain sufficient quantities from the original source , or to identify and obtain sufficient quantities from an alternative source .continued availability of these components may be affected if producers were to decide to concentrate on the production of common components instead of components customized to meet the company's requirements .finally , significant portions of the company's cpus , logic boards , and assembled products are now manufactured by outsourcing partners , the majority of which occurs in various parts of asia .although the company works closely with its outsourcing partners on manufacturing schedules and levels , the company's operating results could be adversely affected if its outsourcing partners were unable to meet their production obligations .contingencies beginning on september 27 , 2001 , three shareholder class action lawsuits were filed in the united states district court for the northern district of california against the company and its chief executive officer .these lawsuits are substantially identical , and purport to bring suit on behalf of persons who purchased the company's publicly traded common stock between july 19 , 2000 , and september 28 , 2000 .the complaints allege violations of the 1934 securities exchange act and seek unspecified compensatory damages and other relief .the company believes these claims are without merit and intends to defend them vigorously .the company filed a motion to dismiss on june 4 , 2002 , which was heard by the court on september 13 , 2002 .on december 11 , 2002 , the court granted the company's motion to dismiss for failure to state a cause of action , with leave to plaintiffs to amend their complaint within thirty days .the company is subject to certain other legal proceedings and claims that have arisen in the ordinary course of business and have not been fully adjudicated .in the opinion of management , the company does not have a potential liability related to any current legal proceedings and claims that would have a material adverse effect on its financial condition , liquidity or results of operations .however , the results of legal proceedings cannot be predicted with certainty .should the company fail to prevail in any of these legal matters or should several of these legal matters be resolved against the company in the same reporting period , the operating results of a particular reporting period could be materially adversely affected .the parliament of the european union is working on finalizing the waste electrical and electronic equipment directive ( the directive ) .the directive makes producers of electrical goods , including personal computers , financially responsible for the collection , recycling , and safe disposal of past and future products .the directive must now be approved and implemented by individual european union governments by june 2004 , while the producers' financial obligations are scheduled to start june 2005 .the company's potential liability resulting from the directive related to past sales of its products and expenses associated with future sales of its product may be substantial .however , because it is likely that specific laws , regulations , and enforcement policies will vary significantly between individual european member states , it is not currently possible to estimate the company's existing liability or future expenses resulting from the directive .as the european union and its individual member states clarify specific requirements and policies with respect to the directive , the company will continue to assess its potential financial impact .similar legislation may be enacted in other geographies , including federal and state legislation in the united states , the cumulative impact of which could be significant .fiscal years .
[['2003', '$ 83'], ['2004', '78'], ['2005', '66'], ['2006', '55'], ['2007', '42'], ['later years', '140'], ['total minimum lease payments', '$ 464']]
.
|
what percentage of total minimum lease payments is due in 2004?
|
17%
|
{
"answer": "17%",
"decimal": 0.17,
"type": "percentage"
}
| |
a e s 2 0 0 0 f i n a n c i a l r e v i e w in may 2000 , a subsidiary of the company acquired an additional 5% ( 5 % ) of the preferred , non-voting shares of eletropaulo for approximately $ 90 million .in january 2000 , 59% ( 59 % ) of the preferred non-voting shares were acquired for approximately $ 1 billion at auction from bndes , the national development bank of brazil .the price established at auction was approximately $ 72.18 per 1000 shares , to be paid in four annual installments com- mencing with a payment of 18.5% ( 18.5 % ) of the total price upon closing of the transaction and installments of 25.9% ( 25.9 % ) , 27.1% ( 27.1 % ) and 28.5% ( 28.5 % ) of the total price to be paid annually thereafter .at december 31 , 2000 , the company had a total economic interest of 49.6% ( 49.6 % ) in eletropaulo .the company accounts for this investment using the equity method based on the related consortium agreement that allows the exercise of significant influence .in august 2000 , a subsidiary of the company acquired a 49% ( 49 % ) interest in songas limited for approxi- mately $ 40 million .songas limited owns the songo songo gas-to-electricity project in tanzania .under the terms of a project management agreement , the company has assumed overall project management responsibility .the project consists of the refurbishment and operation of five natural gas wells in coastal tanzania , the construction and operation of a 65 mmscf/day gas processing plant and related facilities , the construction of a 230 km marine and land pipeline from the gas plant to dar es salaam and the conversion and upgrading of an existing 112 mw power station in dar es salaam to burn natural gas , with an optional additional unit to be constructed at the plant .since the project is currently under construction , no rev- enues or expenses have been incurred , and therefore no results are shown in the following table .in december 2000 , a subsidiary of the company with edf international s.a .( 201cedf 201d ) completed the acquisition of an additional 3.5% ( 3.5 % ) interest in light from two sub- sidiaries of reliant energy for approximately $ 136 mil- lion .pursuant to the acquisition , the company acquired 30% ( 30 % ) of the shares while edf acquired the remainder .with the completion of this transaction , the company owns approximately 21.14% ( 21.14 % ) of light .in december 2000 , a subsidiary of the company entered into an agreement with edf to jointly acquire an additional 9.2% ( 9.2 % ) interest in light , which is held by a sub- sidiary of companhia siderurgica nacional ( 201ccsn 201d ) .pursuant to this transaction , the company acquired an additional 2.75% ( 2.75 % ) interest in light for $ 114.6 million .this transaction closed in january 2001 .following the purchase of the light shares previously owned by csn , aes and edf will together be the con- trolling shareholders of light and eletropaulo .aes and edf have agreed that aes will eventually take operational control of eletropaulo and the telecom businesses of light and eletropaulo , while edf will eventually take opera- tional control of light and eletropaulo 2019s electric workshop business .aes and edf intend to continue to pursue a fur- ther rationalization of their ownership stakes in light and eletropaulo , the result of which aes would become the sole controlling shareholder of eletropaulo and edf would become the sole controlling shareholder of light .upon consummation of the transaction , aes will begin consolidating eletropaulo 2019s operating results .the struc- ture and process by which this rationalization may be effected , and the resulting timing , have yet to be deter- mined and will likely be subject to approval by various brazilian regulatory authorities and other third parties .as a result , there can be no assurance that this rationalization will take place .in may 1999 , a subsidiary of the company acquired subscription rights from the brazilian state-controlled eletrobras which allowed it to purchase preferred , non- voting shares in eletropaulo and common shares in light .the aggregate purchase price of the subscription rights and the underlying shares in light and eletropaulo was approximately $ 53 million and $ 77 million , respectively , and represented 3.7% ( 3.7 % ) and 4.4% ( 4.4 % ) economic ownership interest in their capital stock , respectively .the following table presents summarized financial information ( in millions ) for the company 2019s investments in 50% ( 50 % ) or less owned investments accounted for using the equity method: .
[['as of and for the years ended december 31,', '2000', '1999', '1998'], ['revenues', '$ 6241', '$ 5960', '$ 8091'], ['operating income', '1989', '1839', '2079'], ['net income', '859', '62', '1146'], ['current assets', '2423', '2259', '2712'], ['noncurrent assets', '13080', '15359', '19025'], ['current liabilities', '3370', '3637', '4809'], ['noncurrent liabilities', '5927', '7536', '7356'], ["stockholder's equity", '6206', '6445', '9572']]
.
|
what was the change in revenue for the company 2019s investments in 50% ( 50 % ) or less owned investments accounted for using the equity method between 1999 and 2000?
|
5%
|
{
"answer": "5%",
"decimal": 0.05,
"type": "percentage"
}
| |
results of operations for 2016 include : 1 ) $ 2836 million ( $ 1829 million net-of-tax ) of impairment and related charges primarily to write down the carrying values of the entergy wholesale commodities 2019 palisades , indian point 2 , and indian point 3 plants and related assets to their fair values ; 2 ) a reduction of income tax expense , net of unrecognized tax benefits , of $ 238 million as a result of a change in the tax classification of a legal entity that owned one of the entergy wholesale commodities nuclear power plants ; income tax benefits as a result of the settlement of the 2010-2011 irs audit , including a $ 75 million tax benefit recognized by entergy louisiana related to the treatment of the vidalia purchased power agreement and a $ 54 million net benefit recognized by entergy louisiana related to the treatment of proceeds received in 2010 for the financing of hurricane gustav and hurricane ike storm costs pursuant to louisiana act 55 ; and 3 ) a reduction in expenses of $ 100 million ( $ 64 million net-of-tax ) due to the effects of recording in 2016 the final court decisions in several lawsuits against the doe related to spent nuclear fuel storage costs .see note 14 to the financial statements for further discussion of the impairment and related charges , see note 3 to the financial statements for additional discussion of the income tax items , and see note 8 to the financial statements for discussion of the spent nuclear fuel litigation .net revenue utility following is an analysis of the change in net revenue comparing 2017 to 2016 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2016 net revenue', '$ 6179'], ['retail electric price', '91'], ['regulatory credit resulting from reduction of thefederal corporate income tax rate', '56'], ['grand gulf recovery', '27'], ['louisiana act 55 financing savings obligation', '17'], ['volume/weather', '-61 ( 61 )'], ['other', '9'], ['2017 net revenue', '$ 6318']]
the retail electric price variance is primarily due to : 2022 the implementation of formula rate plan rates effective with the first billing cycle of january 2017 at entergy arkansas and an increase in base rates effective february 24 , 2016 , each as approved by the apsc .a significant portion of the base rate increase was related to the purchase of power block 2 of the union power station in march 2016 ; 2022 a provision recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding ; 2022 the implementation of the transmission cost recovery factor rider at entergy texas , effective september 2016 , and an increase in the transmission cost recovery factor rider rate , effective march 2017 , as approved by the puct ; and 2022 an increase in rates at entergy mississippi , as approved by the mpsc , effective with the first billing cycle of july 2016 .see note 2 to the financial statements for further discussion of the rate proceedings and the waterford 3 replacement steam generator prudence review proceeding .see note 14 to the financial statements for discussion of the union power station purchase .entergy corporation and subsidiaries management 2019s financial discussion and analysis .
|
what is the reduction of income tax expense as a percentage of net revenue in 2016?
|
3.85%
|
{
"answer": "3.85%",
"decimal": 0.0385,
"type": "percentage"
}
| |
as a result of the transaction , we recognized a net gain of approximately $ 1.3 billion , including $ 1.2 billion recognized in 2016 .the net gain represents the $ 2.5 billion fair value of the shares of lockheed martin common stock exchanged and retired as part of the exchange offer , plus the $ 1.8 billion one-time special cash payment , less the net book value of the is&gs business of about $ 3.0 billion at august 16 , 2016 and other adjustments of about $ 100 million .in 2017 , we recognized an additional gain of $ 73 million , which reflects certain post-closing adjustments , including certain tax adjustments and the final determination of net working capital .we classified the operating results of our former is&gs business as discontinued operations in our consolidated financial statements in accordance with u.s .gaap , as the divestiture of this business represented a strategic shift that had a major effect on our operations and financial results .however , the cash flows generated by the is&gs business have not been reclassified in our consolidated statements of cash flows as we retained this cash as part of the transaction .the operating results , prior to the august 16 , 2016 divestiture date , of the is&gs business that have been reflected within net earnings from discontinued operations for the year ended december 31 , 2016 are as follows ( in millions ) : .
[['net sales', '$ 3410'], ['cost of sales', '-2953 ( 2953 )'], ['severance charges', '-19 ( 19 )'], ['gross profit', '438'], ['other income net', '16'], ['operating profit', '454'], ['earnings from discontinued operations before income taxes', '454'], ['income tax expense', '-147 ( 147 )'], ['net gain on divestiture of discontinued operations', '1205'], ['net earnings from discontinued operations', '$ 1512']]
the operating results of the is&gs business reported as discontinued operations are different than the results previously reported for the is&gs business segment .results reported within net earnings from discontinued operations only include costs that were directly attributable to the is&gs business and exclude certain corporate overhead costs that were previously allocated to the is&gs business .as a result , we reclassified $ 82 million in 2016 of corporate overhead costs from the is&gs business to other unallocated , net on our consolidated statement of earnings .additionally , we retained all assets and obligations related to the pension benefits earned by former is&gs business salaried employees through the date of divestiture .therefore , the non-service portion of net pension costs ( e.g. , interest cost , actuarial gains and losses and expected return on plan assets ) for these plans have been reclassified from the operating results of the is&gs business segment and reported as a reduction to the fas/cas pension adjustment .these net pension costs were $ 54 million for the year ended december 31 , 2016 .the service portion of net pension costs related to is&gs business 2019s salaried employees that transferred to leidos were included in the operating results of the is&gs business classified as discontinued operations because such costs are no longer incurred by us .significant severance charges related to the is&gs business were historically recorded at the lockheed martin corporate office .these charges have been reclassified into the operating results of the is&gs business , classified as discontinued operations , and excluded from the operating results of our continuing operations .the amount of severance charges reclassified were $ 19 million in 2016 .financial information related to cash flows generated by the is&gs business , such as depreciation and amortization , capital expenditures , and other non-cash items , included in our consolidated statement of cash flows for the years ended december 31 , 2016 were not significant. .
|
what was the profit margin in december 2016
|
13.3%
|
{
"answer": "13.3%",
"decimal": 0.133,
"type": "percentage"
}
| |
maturities of long-term debt in each of the next five years and beyond are as follows: .
[['2014', '$ 907.4'], ['2015', '453.0'], ['2016', '433.0'], ['2017', '453.8'], ['2018', '439.9'], ['thereafter', '2876.6'], ['total', '$ 5563.7']]
on 4 february 2013 , we issued a $ 400.0 senior fixed-rate 2.75% ( 2.75 % ) note that matures on 3 february 2023 .additionally , on 7 august 2013 , we issued a 2.0% ( 2.0 % ) eurobond for 20ac300 million ( $ 397 ) that matures on 7 august 2020 .various debt agreements to which we are a party also include financial covenants and other restrictions , including restrictions pertaining to the ability to create property liens and enter into certain sale and leaseback transactions .as of 30 september 2013 , we are in compliance with all the financial and other covenants under our debt agreements .as of 30 september 2013 , we have classified commercial paper of $ 400.0 maturing in 2014 as long-term debt because we have the ability and intent to refinance the debt under our $ 2500.0 committed credit facility maturing in 2018 .our current intent is to refinance this debt via the u.s .public or private placement markets .on 30 april 2013 , we entered into a five-year $ 2500.0 revolving credit agreement with a syndicate of banks ( the 201c2013 credit agreement 201d ) , under which senior unsecured debt is available to us and certain of our subsidiaries .the 2013 credit agreement provides us with a source of liquidity and supports our commercial paper program .this agreement increases the previously existing facility by $ 330.0 , extends the maturity date to 30 april 2018 , and modifies the financial covenant to a maximum ratio of total debt to total capitalization ( total debt plus total equity plus redeemable noncontrolling interest ) no greater than 70% ( 70 % ) .no borrowings were outstanding under the 2013 credit agreement as of 30 september 2013 .the 2013 credit agreement terminates and replaces our previous $ 2170.0 revolving credit agreement dated 8 july 2010 , as subsequently amended , which was to mature 30 june 2015 and had a financial covenant of long-term debt divided by the sum of long-term debt plus equity of no greater than 60% ( 60 % ) .no borrowings were outstanding under the previous agreement at the time of its termination and no early termination penalties were incurred .effective 11 june 2012 , we entered into an offshore chinese renminbi ( rmb ) syndicated credit facility of rmb1000.0 million ( $ 163.5 ) , maturing in june 2015 .there are rmb250.0 million ( $ 40.9 ) in outstanding borrowings under this commitment at 30 september 2013 .additional commitments totaling $ 383.0 are maintained by our foreign subsidiaries , of which $ 309.0 was borrowed and outstanding at 30 september 2013. .
|
what is going to be the matured value of the eurobond issued in 2013 , in millions?
|
456.55
|
{
"answer": "456.55",
"decimal": 456.55,
"type": "float"
}
|
it is the original $ 397 calculated in the compound interest formula , in which 2% is going to be the interest and 7 is going to be the period ( 2020-2013 ) .
|
pullmantur during 2013 , we operated four ships with an aggre- gate capacity of approximately 7650 berths under our pullmantur brand , offering cruise itineraries that ranged from four to 12 nights throughout south america , the caribbean and europe .one of these ships , zenith , was redeployed from pullmantur to cdf croisi e8res de france in january 2014 .pullmantur serves the contemporary segment of the spanish , portuguese and latin american cruise markets .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 .in recognition of this , pullmantur recently opened a regional head office in panama to place the operating management closer to its largest and fastest growing market .in order to facilitate pullmantur 2019s ability to focus on its core cruise business , in december 2013 , pullmantur reached an agreement to sell the majority of its inter- est in its land-based tour operations , travel agency and pullmantur air , the closing of which is subject to customary closing conditions .in connection with the agreement , we will retain a 19% ( 19 % ) interest in the non-core businesses .we will retain ownership of the pullmantur aircraft which will be dry leased to pullmantur air .cdf croisi e8res de france in january 2014 , we redeployed zenith from pullmantur to cdf croisi e8res de france .as a result , as of january 2014 , we operate two ships with an aggregate capac- ity of approximately 2750 berths under our cdf croisi e8res de france brand .during the summer of 2014 , cdf croisi e8res de france will operate both ships in europe and , for the first time , the brand will operate in the caribbean during the winter of 2014 .in addition , cdf croisi e8res de france offers seasonal itineraries to the mediterranean .cdf croisi e8res de france is designed to serve the contemporary seg- ment of the french cruise market by providing a brand tailored for french cruise guests .tui cruises tui cruises 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 two ships , mein schiff 1 and mein schiff 2 , with an aggregate capacity of approximately 3800 berths .in addition , tui cruises has two ships on order , each with a capacity of 2500 berths , scheduled for delivery in the second quarter of 2014 and second quarter of 2015 .tui cruises is a joint venture owned 50% ( 50 % ) by us and 50% ( 50 % ) by tui ag , a german tourism and shipping company that also owns 51% ( 51 % ) of tui travel , a british tourism company .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 )'], ['2009', '3.0% ( 3.0 % )', '1.0% ( 1.0 % )'], ['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 % )']]
( 1 ) source : international monetary fund and cruise line international association based on cruise guests carried for at least two con- secutive nights for years 2009 through 2012 .year 2013 amounts represent our estimates .includes the united states of america and canada .( 2 ) source : international monetary fund and clia europe , formerly european cruise council , for years 2009 through 2012 .year 2013 amounts represent our estimates .we estimate that the global cruise fleet was served by approximately 436000 berths on approximately 269 ships at the end of 2013 .there are approximately 26 ships with an estimated 71000 berths that are expected to be placed in service in the global cruise market between 2014 and 2018 , 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 21.3 million cruise guests in 2013 compared to 20.9 million cruise guests carried in 2012 and 20.2 million cruise guests carried in 2011 .part i .
|
by what percentage did the global cruise guests increase from 2011 to 2012 and from 2012 to 2013?
|
1.91% and 3.46% , respectively
|
{
"answer": "1.91% and 3.46% , respectively",
"decimal": null,
"type": "open_ended_answer"
}
| |
the graph below shows a five-year comparison of the cumulative shareholder return on the company's common stock with the cumulative total return of the s&p smallcap 600 index and the s&p 600 electrical equipment index , all of which are published indices .comparison of five-year cumulative total return from december 31 , 2002 to december 31 , 2007 assumes $ 100 invested with reinvestment of dividends period indexed returns .
[['company/index', 'baseperiod 12/31/02', 'baseperiod 12/31/03', 'baseperiod 12/31/04', 'baseperiod 12/31/05', 'baseperiod 12/31/06', '12/31/07'], ['a o smith corp', '100.00', '132.23', '115.36', '138.20', '150.26', '142.72'], ['s&p smallcap 600 index', '100.00', '138.79', '170.22', '183.30', '211.01', '210.39'], ['s&p 600 electrical equipment', '100.00', '126.12', '152.18', '169.07', '228.83', '253.33']]
12/31/02 12/31/03 12/31/04 12/31/05 12/31/06 12/31/07 smith ( a o ) corp s&p smallcap 600 index s&p 600 electrical equipment .
|
what was the difference in cumulative total return for the five year period ending 12/31/07 between a o smith corp and the s&p 600 electrical equipment?
|
-110.61%
|
{
"answer": "-110.61%",
"decimal": -1.1061,
"type": "percentage"
}
|
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