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table of contents 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 .on november 4 , 2004 , the registration statement relating to our initial public offering was declared effective by the sec .the high and low bid information for our common stock , as reported by nasdaq , was as follows : on march 28 , 2005 , the last reported closing price of our common stock on the nasdaq national market was $ 10.26 .holders there were approximately 188 holders of record of our common stock as of march 28 , 2005 .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 .additionally , prior to the closing of the initial public offering , all outstanding shares of convertible preferred stock were converted into 14484493 shares of common stock and 4266310 shares of non-voting common stock .the underwriters for our initial public offering were credit suisse first boston llc , j.p .morgan securities inc. , banc of america securities llc , bear , stearns & co .inc .and ubs securities llc .all of the underwriters are affiliates of some of our broker-dealer clients and affiliates of some our institutional investor clients .in addition , affiliates of all the underwriters are stockholders of ours .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 .as of december 31 , 2004 , we have not used any of the net proceeds from the initial public offering for product development costs , sales and marketing activities and working capital .we have invested the proceeds from the offering in cash and cash equivalents and short-term marketable securities pending their use for these or other purposes .item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities november 5 , 2004 december 31 , 2004 .
[['high', 'low'], ['$ 24.41', '$ 12.75']]
.
|
what was the difference between the high and low share price for the period?
|
11.66
|
{
"answer": "11.66",
"decimal": 11.66,
"type": "float"
}
| |
s c h e d u l e i v ace limited and subsidiaries s u p p l e m e n t a l i n f o r m a t i o n c o n c e r n i n g r e i n s u r a n c e premiums earned for the years ended december 31 , 2010 , 2009 , and 2008 ( in millions of u.s .dollars , except for percentages ) direct amount ceded to companies assumed from other companies net amount percentage of amount assumed to .
[['for the years ended december 31 2010 2009 and 2008 ( in millions of u.s . dollars except for percentages )', 'directamount', 'ceded to other companies', 'assumed from other companies', 'net amount', 'percentage of amount assumed to net'], ['2010', '$ 15780', '$ 5792', '$ 3516', '$ 13504', '26% ( 26 % )'], ['2009', '$ 15415', '$ 5943', '$ 3768', '$ 13240', '28% ( 28 % )'], ['2008', '$ 16087', '$ 6144', '$ 3260', '$ 13203', '25% ( 25 % )']]
.
|
in 2010 what was the ratio of the value of the direct amount of the premiums to the amount ceded to other companies
|
2.724
|
{
"answer": "2.724",
"decimal": 2.724,
"type": "float"
}
| |
.
[['contractual obligations', '2015', '2016', '2017', '2018', '2019', 'thereafter', 'total'], ['long-term obligations excluding capital leases', '888810', '753045', '700608', '1787451', '3159286', '7188751', '14477951'], ['cash interest expense', '550000', '517000', '485000', '399000', '315000', '654000', '2920000'], ['capital lease payments ( including interest )', '15589', '14049', '12905', '12456', '10760', '173313', '239072'], ['total debt service obligations', '1454399', '1284094', '1198513', '2198907', '3485046', '8016064', '17637023'], ['operating lease payments ( 11 )', '574438', '553864', '538405', '519034', '502847', '4214600', '6903188'], ['other non-current liabilities ( 12 ) ( 13 )', '11082', '20480', '5705', '13911', '4186', '1860071', '1915435'], ['total', '$ 2039919', '$ 1858438', '$ 1742623', '$ 2731852', '$ 3992079', '$ 14090735', '$ 26455646']]
( 1 ) represents anticipated repayment date ; final legal maturity date is march 15 , 2043 .( 2 ) represents anticipated repayment date ; final legal maturity date is march 15 , 2048 .( 3 ) in connection with our acquisition of mipt on october 1 , 2013 , we assumed approximately $ 1.49 billion aggregate principal amount of secured notes , $ 250.0 million of which we repaid in august 2014 .the gtp notes have anticipated repayment dates beginning june 15 , 2016 .( 4 ) assumed in connection with our acquisition of br towers and denominated in brl .the br towers debenture amortizes through october 2023 .the br towers credit facility amortizes through january 15 , ( 5 ) assumed by us in connection with the unison acquisition , and have anticipated repayment dates of april 15 , 2017 , april 15 , 2020 and april 15 , 2020 , respectively , and a final maturity date of april 15 , 2040 .( 6 ) denominated in mxn .( 7 ) denominated in zar and amortizes through march 31 , 2020 .( 8 ) denominated in cop and amortizes through april 24 , 2021 .( 9 ) reflects balances owed to our joint venture partners in ghana and uganda .the ghana loan is denominated in ghs and the uganda loan is denominated in usd .( 10 ) on february 11 , 2015 , we redeemed all of the outstanding 4.625% ( 4.625 % ) notes in accordance with the terms thereof .( 11 ) includes payments under non-cancellable initial terms , as well as payments for certain renewal periods at our option , which we expect to renew because failure to renew could result in a loss of the applicable communications sites and related revenues from tenant leases .( 12 ) primarily represents our asset retirement obligations and excludes certain other non-current liabilities included in our consolidated balance sheet , primarily our straight-line rent liability for which cash payments are included in operating lease payments and unearned revenue that is not payable in cash .( 13 ) excludes $ 26.6 million of liabilities for unrecognized tax positions and $ 24.9 million of accrued income tax related interest and penalties included in our consolidated balance sheet as we are uncertain as to when and if the amounts may be settled .settlement of such amounts could require the use of cash flows generated from operations .we expect the unrecognized tax benefits to change over the next 12 months if certain tax matters ultimately settle with the applicable taxing jurisdiction during this timeframe .however , based on the status of these items and the amount of uncertainty associated with the outcome and timing of audit settlements , we are currently unable to estimate the impact of the amount of such changes , if any , to previously recorded uncertain tax positions .off-balance sheet arrangements .we have no material off-balance sheet arrangements as defined in item 303 ( a ) ( 4 ) ( ii ) of sec regulation s-k .interest rate swap agreements .we have entered into interest rate swap agreements to manage our exposure to variability in interest rates on debt in colombia and south africa .all of our interest rate swap agreements have been designated as cash flow hedges and have an aggregate notional amount of $ 79.9 million , interest rates ranging from 5.74% ( 5.74 % ) to 7.83% ( 7.83 % ) and expiration dates through april 2021 .in february 2014 , we repaid the costa rica loan and subsequently terminated the associated interest rate swap agreements .additionally , in connection with entering into the colombian credit facility in october 2014 , we terminated our pre-existing interest rate .
|
what percentage of operating lease payments are due after 5 years?
|
61%
|
{
"answer": "61%",
"decimal": 0.61,
"type": "percentage"
}
| |
management 2019s discussion and analysis of financial condition and results of operations in 2008 , sales to the segment 2019s top five customers represented approximately 45% ( 45 % ) of the segment 2019s net sales .the segment 2019s backlog was $ 2.3 billion at december 31 , 2008 , compared to $ 2.6 billion at december 31 , 2007 .in 2008 , our digital video customers significantly increased their purchases of the segment 2019s products and services , primarily due to increased demand for digital entertainment devices , particularly ip and hd/dvr devices .in february 2008 , the segment acquired the assets related to digital cable set-top products of zhejiang dahua digital technology co. , ltd and hangzhou image silicon ( known collectively as dahua digital ) , a developer , manufacturer and marketer of cable set-tops and related low-cost integrated circuits for the emerging chinese cable business .the acquisition helped the segment strengthen its position in the rapidly growing cable market in china .enterprise mobility solutions segment the enterprise mobility solutions segment designs , manufactures , sells , installs and services analog and digital two-way radios , wireless lan and security products , voice and data communications products and systems for private networks , wireless broadband systems and end-to-end enterprise mobility solutions to a wide range of customers , including government and public safety agencies ( which , together with all sales to distributors of two-way communication products , are referred to as the 2018 2018government and public safety market 2019 2019 ) , as well as retail , energy and utilities , transportation , manufacturing , healthcare and other commercial customers ( which , collectively , are referred to as the 2018 2018commercial enterprise market 2019 2019 ) .in 2009 , the segment 2019s net sales represented 32% ( 32 % ) of the company 2019s consolidated net sales , compared to 27% ( 27 % ) in 2008 and 21% ( 21 % ) in 2007 .years ended december 31 percent change ( dollars in millions ) 2009 2008 2007 2009 20142008 2008 20142007 .
[['( dollars in millions )', 'years ended december 31 2009', 'years ended december 31 2008', 'years ended december 31 2007', 'years ended december 31 2009 20142008', '2008 20142007'], ['segment net sales', '$ 7008', '$ 8093', '$ 7729', '( 13 ) % ( % )', '5% ( 5 % )'], ['operating earnings', '1057', '1496', '1213', '( 29 ) % ( % )', '23% ( 23 % )']]
segment results 20142009 compared to 2008 in 2009 , the segment 2019s net sales were $ 7.0 billion , a decrease of 13% ( 13 % ) compared to net sales of $ 8.1 billion in 2008 .the 13% ( 13 % ) decrease in net sales reflects a 21% ( 21 % ) decrease in net sales to the commercial enterprise market and a 10% ( 10 % ) decrease in net sales to the government and public safety market .the decrease in net sales to the commercial enterprise market reflects decreased net sales in all regions .the decrease in net sales to the government and public safety market was primarily driven by decreased net sales in emea , north america and latin america , partially offset by higher net sales in asia .the segment 2019s overall net sales were lower in north america , emea and latin america and higher in asia the segment had operating earnings of $ 1.1 billion in 2009 , a decrease of 29% ( 29 % ) compared to operating earnings of $ 1.5 billion in 2008 .the decrease in operating earnings was primarily due to a decrease in gross margin , driven by the 13% ( 13 % ) decrease in net sales and an unfavorable product mix .also contributing to the decrease in operating earnings was an increase in reorganization of business charges , relating primarily to higher employee severance costs .these factors were partially offset by decreased sg&a expenses and r&d expenditures , primarily related to savings from cost-reduction initiatives .as a percentage of net sales in 2009 as compared 2008 , gross margin decreased and r&d expenditures and sg&a expenses increased .net sales in north america continued to comprise a significant portion of the segment 2019s business , accounting for approximately 58% ( 58 % ) of the segment 2019s net sales in 2009 , compared to approximately 57% ( 57 % ) in 2008 .the regional shift in 2009 as compared to 2008 reflects a 16% ( 16 % ) decline in net sales outside of north america and a 12% ( 12 % ) decline in net sales in north america .the segment 2019s backlog was $ 2.4 billion at both december 31 , 2009 and december 31 , 2008 .in our government and public safety market , we see a continued emphasis on mission-critical communication and homeland security solutions .in 2009 , we led market innovation through the continued success of our mototrbo line and the delivery of the apx fffd family of products .while spending by end customers in the segment 2019s government and public safety market is affected by government budgets at the national , state and local levels , we continue to see demand for large-scale mission critical communications systems .in 2009 , we had significant wins across the globe , including several city and statewide communications systems in the united states , and continued success winning competitive projects with our tetra systems in europe , the middle east .
|
how many sales did the north america account for in 2009?
|
$ 3994.56
|
{
"answer": "$ 3994.56",
"decimal": 3994.56,
"type": "money"
}
|
$ 3994.6 , the percentage of north american sales was given in line 18 . we take that percentage and multiple by the segmented net sales to get our answer .
|
on may 20 , 2015 , aon plc issued $ 600 million of 4.750% ( 4.750 % ) senior notes due may 2045 .the 4.750% ( 4.750 % ) notes due may 2045 are fully and unconditionally guaranteed by aon corporation .we used the proceeds of the issuance for general corporate purposes .on september 30 , 2015 , $ 600 million of 3.50% ( 3.50 % ) senior notes issued by aon corporation matured and were repaid .on november 13 , 2015 , aon plc issued $ 400 million of 2.80% ( 2.80 % ) senior notes due march 2021 .the 2.80% ( 2.80 % ) notes due march 2021 are fully and unconditionally guaranteed by aon corporation .we used the proceeds of the issuance for general corporate purposes .credit facilities as of december 31 , 2015 , we had two committed credit facilities outstanding : our $ 400 million u.s .credit facility expiring in march 2017 ( the "2017 facility" ) and $ 900 million multi-currency u.s .credit facility expiring in february 2020 ( the "2020 facility" ) .the 2020 facility was entered into on february 2 , 2015 and replaced the previous 20ac650 million european credit facility .each of these facilities is intended to support our commercial paper obligations and our general working capital needs .in addition , each of these facilities includes customary representations , warranties and covenants , including financial covenants that require us to maintain specified ratios of adjusted consolidated ebitda to consolidated interest expense and consolidated debt to adjusted consolidated ebitda , tested quarterly .at december 31 , 2015 , we did not have borrowings under either the 2017 facility or the 2020 facility , and we were in compliance with the financial covenants and all other covenants contained therein during the twelve months ended december 31 , 2015 .effective february 2 , 2016 , the 2020 facility terms were extended for 1 year and will expire in february 2021 our total debt-to-ebitda ratio at december 31 , 2015 and 2014 , is calculated as follows: .
[['years ended december 31,', '2015', '2014'], ['net income', '1422', '1431'], ['interest expense', '273', '255'], ['income taxes', '267', '334'], ['depreciation of fixed assets', '229', '242'], ['amortization of intangible assets', '314', '352'], ['total ebitda', '2505', '2614'], ['total debt', '5737', '5582'], ['total debt-to-ebitda ratio', '2.3', '2.1']]
we use ebitda , as defined by our financial covenants , as a non-gaap measure .this supplemental information related to ebitda represents a measure not in accordance with u.s .gaap and should be viewed in addition to , not instead of , our consolidated financial statements and notes thereto .shelf registration statement on september 3 , 2015 , we filed a shelf registration statement with the sec , registering the offer and sale from time to time of an indeterminate amount of , among other securities , debt securities , preference shares , class a ordinary shares and convertible securities .our ability to access the market as a source of liquidity is dependent on investor demand , market conditions and other factors. .
|
what was the ratio of the 2017 credit facility to the 2020 credit facility
|
2.25
|
{
"answer": "2.25",
"decimal": 2.25,
"type": "float"
}
| |
schlumberger limited and subsidiaries shares of common stock issued in treasury shares outstanding ( stated in millions ) .
[['', 'issued', 'in treasury', 'shares outstanding'], ['balance january 1 2008', '1334', '-138 ( 138 )', '1196'], ['shares sold to optionees less shares exchanged', '2013', '5', '5'], ['shares issued under employee stock purchase plan', '2013', '2', '2'], ['stock repurchase program', '2013', '-21 ( 21 )', '-21 ( 21 )'], ['issued on conversions of debentures', '2013', '12', '12'], ['balance december 31 2008', '1334', '-140 ( 140 )', '1194'], ['shares sold to optionees less shares exchanged', '2013', '4', '4'], ['vesting of restricted stock', '2013', '1', '1'], ['shares issued under employee stock purchase plan', '2013', '4', '4'], ['stock repurchase program', '2013', '-8 ( 8 )', '-8 ( 8 )'], ['balance december 31 2009', '1334', '-139 ( 139 )', '1195'], ['acquisition of smith international inc .', '100', '76', '176'], ['shares sold to optionees less shares exchanged', '2013', '6', '6'], ['shares issued under employee stock purchase plan', '2013', '3', '3'], ['stock repurchase program', '2013', '-27 ( 27 )', '-27 ( 27 )'], ['issued on conversions of debentures', '2013', '8', '8'], ['balance december 31 2010', '1434', '-73 ( 73 )', '1361']]
see the notes to consolidated financial statements part ii , item 8 .
|
what was the average beginning and ending balance of shares in millions outstanding during 2010?
|
1278
|
{
"answer": "1278",
"decimal": 1278,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements the allocation of the purchase price was finalized during the year ended december 31 , 2012 .the following table summarizes the allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : purchase price allocation .
[['', 'final purchase price allocation'], ['non-current assets', '$ 2'], ['property and equipment', '3590'], ['intangible assets ( 1 )', '1062'], ['other non-current liabilities', '-91 ( 91 )'], ['fair value of net assets acquired', '$ 4563'], ['goodwill ( 2 )', '89']]
( 1 ) consists of customer-related intangibles of approximately $ 0.4 million and network location intangibles of approximately $ 0.7 million .the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .( 2 ) the company expects that the goodwill recorded will be deductible for tax purposes .the goodwill was allocated to the company 2019s international rental and management segment .colombia 2014colombia movil acquisition 2014on july 17 , 2011 , the company entered into a definitive agreement with colombia movil s.a .e.s.p .( 201ccolombia movil 201d ) , whereby atc sitios infraco , s.a.s. , a colombian subsidiary of the company ( 201catc infraco 201d ) , would purchase up to 2126 communications sites from colombia movil for an aggregate purchase price of approximately $ 182.0 million .from december 21 , 2011 through the year ended december 31 , 2012 , atc infraco completed the purchase of 1526 communications sites for an aggregate purchase price of $ 136.2 million ( including contingent consideration of $ 17.3 million ) , subject to post-closing adjustments .through a subsidiary , millicom international cellular s.a .( 201cmillicom 201d ) exercised its option to acquire an indirect , substantial non-controlling interest in atc infraco .under the terms of the agreement , the company is required to make additional payments upon the conversion of certain barter agreements with other wireless carriers to cash paying lease agreements .based on the company 2019s current estimates , the value of potential contingent consideration payments required to be made under the amended agreement is expected to be between zero and $ 32.8 million and is estimated to be $ 17.3 million using a probability weighted average of the expected outcomes at december 31 , 2012 .during the year ended december 31 , 2012 , the company recorded a reduction in fair value of $ 1.2 million , which is included in other operating expenses in the consolidated statements of operations. .
|
based on the final purchase price allocation what was the ratio of the property and equipment to the intangible assets
|
3.4
|
{
"answer": "3.4",
"decimal": 3.4,
"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 2011?
|
42%
|
{
"answer": "42%",
"decimal": 0.42,
"type": "percentage"
}
| |
approximately 99% ( 99 % ) of the outstanding shares of common stock of aon corporation were held within the dtc system .the class a ordinary shares of aon plc are , at present , eligible for deposit and clearing within the dtc system .in connection with the closing of the redomestication , we entered into arrangements with dtc whereby we agreed to indemnify dtc for any stamp duty and/or sdrt that may be assessed upon it as a result of its service as a depository and clearing agency for our class a ordinary shares .in addition , we have obtained a ruling from hmrc in respect of the stamp duty and sdrt consequences of the reorganization , and sdrt has been paid in accordance with the terms of this ruling in respect of the deposit of class a ordinary shares with the initial depository .dtc will generally have discretion to cease to act as a depository and clearing agency for the class a ordinary shares .if dtc determines at any time that the class a ordinary shares are not eligible for continued deposit and clearance within its facilities , then we believe the class a ordinary shares would not be eligible for continued listing on a u.s .securities exchange or inclusion in the s&p 500 and trading in the class a ordinary shares would be disrupted .while we would pursue alternative arrangements to preserve our listing and maintain trading , any such disruption could have a material adverse effect on the trading price of the class a ordinary shares .item 1b .unresolved staff comments .item 2 .properties .we have offices in various locations throughout the world .substantially all of our offices are located in leased premises .we maintain our corporate headquarters at 122 leadenhall street , london , england , where we occupy approximately 190000 square feet of space under an operating lease agreement that expires in 2034 .we own one significant building at pallbergweg 2-4 , amsterdam , the netherlands ( 150000 square feet ) .the following are additional significant leased properties , along with the occupied square footage and expiration .property : occupied square footage expiration .
[['property:', 'occupiedsquare footage', 'leaseexpiration dates'], ['4 overlook point and other locations lincolnshire illinois', '1059000', '2019 2013 2024'], ['tikri campus and unitech cyber park gurgaon india', '440000', '2015 2013 2019'], ['200 e . randolph street chicago illinois', '428000', '2028'], ['2601 research forest drive the woodlands texas', '414000', '2020'], ['2300 discovery drive orlando florida', '364000', '2020'], ['199 water street new york new york', '319000', '2018'], ['7201 hewitt associates drive charlotte north carolina', '218000', '2025']]
the locations in lincolnshire , illinois , gurgaon , india , the woodlands , texas , orlando , florida , and charlotte , north carolina , are primarily dedicated to our hr solutions segment .the other locations listed above house personnel from both of our reportable segments .in general , no difficulty is anticipated in negotiating renewals as leases expire or in finding other satisfactory space if the premises become unavailable .we believe that the facilities we currently occupy are adequate for the purposes for which they are being used and are well maintained .in certain circumstances , we may have unused space and may seek to sublet such space to third parties , depending upon the demands for office space in the locations involved .see note 7 "lease commitments" of the notes to consolidated financial statements in part ii , item 8 of this report for information with respect to our lease commitments as of december 31 , 2015 .item 3 .legal proceedings .we hereby incorporate by reference note 14 "commitments and contingencies" of the notes to consolidated financial statements in part ii , item 8 of this report .item 4 .mine safety disclosure .not applicable. .
|
how many years are left till the lease expiration date for the building of aon's corporate headquarters?
|
19
|
{
"answer": "19",
"decimal": 19,
"type": "float"
}
| |
troubled debt restructurings ( tdrs ) a tdr is a loan whose terms have been restructured in a manner that grants a concession to a borrower experiencing financial difficulties .tdrs result from our loss mitigation activities , and include rate reductions , principal forgiveness , postponement/reduction of scheduled amortization , and extensions , which are intended to minimize economic loss and to avoid foreclosure or repossession of collateral .additionally , tdrs also result from borrowers that have been discharged from personal liability through chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to pnc .in those situations where principal is forgiven , the amount of such principal forgiveness is immediately charged off .some tdrs may not ultimately result in the full collection of principal and interest , as restructured , and result in potential incremental losses .these potential incremental losses have been factored into our overall alll estimate .the level of any subsequent defaults will likely be affected by future economic conditions .once a loan becomes a tdr , it will continue to be reported as a tdr until it is ultimately repaid in full , the collateral is foreclosed upon , or it is fully charged off .we held specific reserves in the alll of $ .5 billion and $ .6 billion at december 31 , 2013 and december 31 , 2012 , respectively , for the total tdr portfolio .table 70 : summary of troubled debt restructurings in millions dec .31 dec .31 .
[['in millions', 'dec . 312013', 'dec . 312012'], ['total consumer lending', '$ 2161', '$ 2318'], ['total commercial lending', '578', '541'], ['total tdrs', '$ 2739', '$ 2859'], ['nonperforming', '$ 1511', '$ 1589'], ['accruing ( a )', '1062', '1037'], ['credit card', '166', '233'], ['total tdrs', '$ 2739', '$ 2859']]
( a ) accruing loans have demonstrated a period of at least six months of performance under the restructured terms and are excluded from nonperforming loans .loans where borrowers have been discharged from personal liability through chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to pnc are not returned to accrual status .table 71 quantifies the number of loans that were classified as tdrs as well as the change in the recorded investments as a result of the tdr classification during 2013 , 2012 and 2011 .additionally , the table provides information about the types of tdr concessions .the principal forgiveness tdr category includes principal forgiveness and accrued interest forgiveness .these types of tdrs result in a write down of the recorded investment and a charge-off if such action has not already taken place .the rate reduction tdr category includes reduced interest rate and interest deferral .the tdrs within this category would result in reductions to future interest income .the other tdr category primarily includes consumer borrowers that have been discharged from personal liability through chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to pnc , as well as postponement/reduction of scheduled amortization and contractual extensions for both consumer and commercial borrowers .in some cases , there have been multiple concessions granted on one loan .this is most common within the commercial loan portfolio .when there have been multiple concessions granted in the commercial loan portfolio , the principal forgiveness tdr was prioritized for purposes of determining the inclusion in the table below .for example , if there is principal forgiveness in conjunction with lower interest rate and postponement of amortization , the type of concession will be reported as principal forgiveness .second in priority would be rate reduction .for example , if there is an interest rate reduction in conjunction with postponement of amortization , the type of concession will be reported as a rate reduction .in the event that multiple concessions are granted on a consumer loan , concessions resulting from discharge from personal liability through chapter 7 bankruptcy without formal affirmation of the loan obligations to pnc would be prioritized and included in the other type of concession in the table below .after that , consumer loan concessions would follow the previously discussed priority of concessions for the commercial loan portfolio .140 the pnc financial services group , inc .2013 form 10-k .
|
in millions for the two years ended dec . 312013 and dec . 312012 , \\nwhat was the average balance of total tdrs?
|
2797.5
|
{
"answer": "2797.5",
"decimal": 2797.5,
"type": "float"
}
| |
performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citi 2019s common stock , which is listed on the nyse under the ticker symbol 201cc 201d and held by 77787 common stockholders of record as of january 31 , 2017 , with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period through december 31 , 2016 .the graph and table assume that $ 100 was invested on december 31 , 2011 in citi 2019s common stock , the s&p 500 index and the s&p financial index , and that all dividends were reinvested .comparison of five-year cumulative total return for the years ended date citi s&p 500 financials .
[['date', 'citi', 's&p 500', 's&p financials'], ['31-dec-2011', '100.0', '100.0', '100.0'], ['31-dec-2012', '150.6', '116.0', '128.8'], ['31-dec-2013', '198.5', '153.6', '174.7'], ['31-dec-2014', '206.3', '174.6', '201.3'], ['31-dec-2015', '197.8', '177.0', '198.2'], ['31-dec-2016', '229.3', '198.2', '243.4']]
.
|
in 2016 what was the ratio of the five-year cumulative total return for citi compared to s&p 500
|
1.32
|
{
"answer": "1.32",
"decimal": 1.32,
"type": "float"
}
| |
each clearing firm is required to deposit and maintain balances in the form of cash , u.s .government securities , certain foreign government securities , bank letters of credit or other approved investments to satisfy performance bond and guaranty fund requirements .all non-cash deposits are marked-to-market and haircut on a daily basis .securities deposited by the clearing firms are not reflected in the consolidated financial statements and the clearing house does not earn any interest on these deposits .these balances may fluctuate significantly over time due to investment choices available to clearing firms and changes in the amount of contributions required .in addition , the rules and regulations of cbot require that collateral be provided for delivery of physical commodities , maintenance of capital requirements and deposits on pending arbitration matters .to satisfy these requirements , clearing firms that have accounts that trade certain cbot products have deposited cash , u.s .treasury securities or letters of credit .the clearing house marks-to-market open positions at least once a day ( twice a day for futures and options contracts ) , and require payment from clearing firms whose positions have lost value and make payments to clearing firms whose positions have gained value .the clearing house has the capability to mark-to-market more frequently as market conditions warrant .under the extremely unlikely scenario of simultaneous default by every clearing firm who has open positions with unrealized losses , the maximum exposure related to positions other than credit default and interest rate swap contracts would be one half day of changes in fair value of all open positions , before considering the clearing houses 2019 ability to access defaulting clearing firms 2019 collateral deposits .for cleared credit default swap and interest rate swap contracts , the maximum exposure related to cme 2019s guarantee would be one full day of changes in fair value of all open positions , before considering cme 2019s ability to access defaulting clearing firms 2019 collateral .during 2017 , the clearing house transferred an average of approximately $ 2.4 billion a day through the clearing system for settlement from clearing firms whose positions had lost value to clearing firms whose positions had gained value .the clearing house reduces the guarantee exposure through initial and maintenance performance bond requirements and mandatory guaranty fund contributions .the company believes that the guarantee liability is immaterial and therefore has not recorded any liability at december 31 , 2017 .at december 31 , 2016 , performance bond and guaranty fund contribution assets on the consolidated balance sheets included cash as well as u.s .treasury and u.s .government agency securities with maturity dates of 90 days or less .the u.s .treasury and u.s .government agency securities were purchased by cme , at its discretion , using cash collateral .the benefits , including interest earned , and risks of ownership accrue to cme .interest earned is included in investment income on the consolidated statements of income .there were no u.s .treasury and u.s .government agency securities held at december 31 , 2017 .the amortized cost and fair value of these securities at december 31 , 2016 were as follows : ( in millions ) amortized .
[['( in millions )', '2016 amortizedcost', '2016 fairvalue'], ['u.s . treasury securities', '$ 5548.9', '$ 5549.0'], ['u.s . government agency securities', '1228.3', '1228.3']]
cme has been designated as a systemically important financial market utility by the financial stability oversight council and maintains a cash account at the federal reserve bank of chicago .at december 31 , 2017 and december 31 , 2016 , cme maintained $ 34.2 billion and $ 6.2 billion , respectively , within the cash account at the federal reserve bank of chicago .clearing firms , at their option , may instruct cme to deposit the cash held by cme into one of the ief programs .the total principal in the ief programs was $ 1.1 billion at december 31 , 2017 and $ 6.8 billion at december 31 .
|
what was total amount of cash held by the federal reserve bank of chicago on behalf of the cme , including cash accounts and ief programs on december 31st , 2016?
|
13.0
|
{
"answer": "13.0",
"decimal": 13,
"type": "float"
}
| |
mill in the fourth quarter of 2008 .this compares with 635000 tons of total downtime in 2008 of which 305000 tons were lack-of-order downtime .printing papers in millions 2009 2008 2007 .
[['in millions', '2009', '2008', '2007'], ['sales', '$ 5680', '$ 6810', '$ 6530'], ['operating profit', '1091', '474', '839']]
north american printing papers net sales in 2009 were $ 2.8 billion compared with $ 3.4 billion in 2008 and $ 3.5 billion in 2007 .operating earnings in 2009 were $ 746 million ( $ 307 million excluding alter- native fuel mixture credits and plant closure costs ) compared with $ 405 million ( $ 435 million excluding shutdown costs for a paper machine ) in 2008 and $ 415 million in 2007 .sales volumes decreased sig- nificantly in 2009 compared with 2008 reflecting weak customer demand and reduced production capacity resulting from the shutdown of a paper machine at the franklin mill in december 2008 and the conversion of the bastrop mill to pulp production in june 2008 .average sales price realizations were lower reflecting slight declines for uncoated freesheet paper in domestic markets and significant declines in export markets .margins were also unfavorably affected by a higher proportion of shipments to lower-margin export markets .input costs , however , were favorable due to lower wood and chemical costs and sig- nificantly lower energy costs .freight costs were also lower .planned maintenance downtime costs in 2009 were comparable with 2008 .operating costs were favorable , reflecting cost control efforts and strong machine performance .lack-of-order downtime increased to 525000 tons in 2009 , including 120000 tons related to the shutdown of a paper machine at our franklin mill in the 2008 fourth quarter , from 135000 tons in 2008 .operating earnings in 2009 included $ 671 million of alternative fuel mixture cred- its , $ 223 million of costs associated with the shutdown of our franklin mill and $ 9 million of other shutdown costs , while operating earnings in 2008 included $ 30 million of costs for the shutdown of a paper machine at our franklin mill .looking ahead to 2010 , first-quarter sales volumes are expected to increase slightly from fourth-quarter 2009 levels .average sales price realizations should be higher , reflecting the full-quarter impact of sales price increases announced in the fourth quarter for converting and envelope grades of uncoated free- sheet paper and an increase in prices to export markets .however , input costs for wood , energy and chemicals are expected to continue to increase .planned maintenance downtime costs should be lower and operating costs should be favorable .brazil ian papers net sales for 2009 of $ 960 mil- lion increased from $ 950 million in 2008 and $ 850 million in 2007 .operating profits for 2009 were $ 112 million compared with $ 186 million in 2008 and $ 174 million in 2007 .sales volumes increased in 2009 compared with 2008 for both paper and pulp reflect- ing higher export shipments .average sales price realizations were lower due to strong competitive pressures in the brazilian domestic market in the second half of the year , lower export prices and unfavorable foreign exchange rates .margins were unfavorably affected by a higher proportion of lower margin export sales .input costs for wood and chem- icals were favorable , but these benefits were partially offset by higher energy costs .planned maintenance downtime costs were lower , and operating costs were also favorable .earnings in 2009 were adversely impacted by unfavorable foreign exchange effects .entering 2010 , sales volumes are expected to be seasonally lower compared with the fourth quarter of 2009 .profit margins are expected to be slightly higher reflecting a more favorable geographic sales mix and improving sales price realizations in export markets , partially offset by higher planned main- tenance outage costs .european papers net sales in 2009 were $ 1.3 bil- lion compared with $ 1.7 billion in 2008 and $ 1.5 bil- lion in 2007 .operating profits in 2009 of $ 92 million ( $ 115 million excluding expenses associated with the closure of the inverurie mill ) compared with $ 39 mil- lion ( $ 146 million excluding a charge to reduce the carrying value of the fixed assets at the inverurie , scotland mill to their estimated realizable value ) in 2008 and $ 171 million in 2007 .sales volumes in 2009 were lower than in 2008 primarily due to reduced sales of uncoated freesheet paper following the closure of the inverurie mill in 2009 .average sales price realizations decreased significantly in 2009 across most of western europe , but margins increased in poland and russia reflecting the effect of local currency devaluations .input costs were favorable as lower wood costs , particularly in russia , were only partially offset by higher energy costs in poland and higher chemical costs .planned main- tenance downtime costs were higher in 2009 than in 2008 , while manufacturing operating costs were lower .operating profits in 2009 also reflect favorable foreign exchange impacts .looking ahead to 2010 , sales volumes are expected to decline from strong 2009 fourth-quarter levels despite solid customer demand .average sales price realizations are expected to increase over the quar- ter , primarily in eastern europe , as price increases .
|
north american printing papers net sales where what percent of total printing paper sales in 2009?
|
49%
|
{
"answer": "49%",
"decimal": 0.49,
"type": "percentage"
}
| |
global brand concepts american living launched exclusively at jcpenney in february 2008 , american living is a new tradition in american style for family and home , developed for the jcpenney customer by polo ralph lauren 2019s global brand concepts .american living features menswear , womenswear , childrenswear , accessories and home furnishings capturing the american spirit with modern style and superior quality .a complete lifestyle brand for the entire family and the home , american living mixes sporty , iconic essentials with eye-catching looks for a free-spirited take on contemporary style for every day .american living is available exclusively at jcpenney and jcp.com .chaps translates the classic heritage and timeless aesthetic of ralph lauren into an accessible line for men , women , children and the home .from casual basics designed for versatility and ease of wear to smart , finely tailored silhouettes perfect for business and more formal occasions , chaps creates interchangeable classics that are both enduring and affordable .the chaps men 2019s collection is available at select department and specialty stores .the chaps collections for women , children and the home are available only at kohl 2019s and kohls.com .our wholesale segment our wholesale segment sells our products to leading upscale and certain mid-tier department stores , specialty stores and golf and pro shops , both domestically and internationally .we have focused on elevating our brand and improving productivity by reducing the number of unproductive doors within department stores in which our products are sold , improving in-store product assortment and presentation , and improving full-price sell-throughs to consumers .as of the end of fiscal 2009 , our ralph lauren-branded products were sold through approximately 6100 doors worldwide and during fiscal 2009 , we invested approximately $ 35 million in related shop-within-shops primarily in domestic and international department and specialty stores .department stores are our major wholesale customers in north america .in europe , our wholesale sales are a varying mix of sales to both department stores and specialty shops , depending on the country .our collection brands 2014 women 2019s ralph lauren collection and black label and men 2019s purple label collection and black label 2014 are distributed through a limited number of premier fashion retailers .in addition , we sell excess and out- of-season products through secondary distribution channels , including our retail factory stores .in japan , our products are distributed primarily through shop-within-shops at premiere department stores .the mix of business is weighted to polo ralph lauren in men 2019s and women 2019s blue label .the distribution of men 2019s and women 2019s black label is also expanding through shop-within-shop presentations in top tier department stores across japan .worldwide distribution channels the following table presents the approximate number of doors by geographic location , in which ralph lauren- branded products distributed by our wholesale segment were sold to consumers in our primary channels of distribution as of march 28 , 2009 : location number of doors ( a ) .
[['location', 'number of doors ( a )'], ['united states and canada', '2104'], ['europe', '3873'], ['japan', '120'], ['total', '6097']]
( a ) in asia/pacific ( excluding japan ) , our products are distributed by our licensing partners. .
|
what percentage of worldwide distribution channels doors were located in europe?
|
64%
|
{
"answer": "64%",
"decimal": 0.64,
"type": "percentage"
}
| |
corporate income taxes other than withholding taxes on certain investment income and premium excise taxes .if group or its bermuda subsidiaries were to become subject to u.s .income tax , there could be a material adverse effect on the company 2019s financial condition , results of operations and cash flows .united kingdom .bermuda re 2019s uk branch conducts business in the uk and is subject to taxation in the uk .bermuda re believes that it has operated and will continue to operate its bermuda operation in a manner which will not cause them to be subject to uk taxation .if bermuda re 2019s bermuda operations were to become subject to uk income tax , there could be a material adverse impact on the company 2019s financial condition , results of operations and cash flow .ireland .holdings ireland and ireland re conduct business in ireland and are subject to taxation in ireland .available information .the company 2019s annual reports on form 10-k , quarterly reports on form 10-q , current reports on form 8- k , proxy statements and amendments to those reports are available free of charge through the company 2019s internet website at http://www.everestregroup.com as soon as reasonably practicable after such reports are electronically filed with the securities and exchange commission ( the 201csec 201d ) .item 1a .risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities .if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly .risks relating to our business fluctuations in the financial markets could result in investment losses .prolonged and severe disruptions in the public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio .although financial markets have significantly improved since 2008 , they could deteriorate in the future .such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings .our results could be adversely affected by catastrophic events .we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism .any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations .subsequent to april 1 , 2010 , we define a catastrophe as an event that causes a loss on property exposures before reinsurance of at least $ 10.0 million , before corporate level reinsurance and taxes .prior to april 1 , 2010 , we used a threshold of $ 5.0 million .by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of contract specific reinsurance but before cessions under corporate reinsurance programs , were as follows: .
[['calendar year:', 'pre-tax catastrophe losses'], ['( dollars in millions )', ''], ['2013', '$ 195.0'], ['2012', '410.0'], ['2011', '1300.4'], ['2010', '571.1'], ['2009', '67.4']]
.
|
what are the total pre-tax catastrophe losses in the last two years?
|
605
|
{
"answer": "605",
"decimal": 605,
"type": "float"
}
| |
note 12 2013 stock-based compensation during 2013 , 2012 , and 2011 , we recorded non-cash stock-based compensation expense totaling $ 189 million , $ 167 million , and $ 157 million , which is included as a component of other unallocated costs on our statements of earnings .the net impact to earnings for the respective years was $ 122 million , $ 108 million , and $ 101 million .as of december 31 , 2013 , we had $ 132 million of unrecognized compensation cost related to nonvested awards , which is expected to be recognized over a weighted average period of 1.5 years .we received cash from the exercise of stock options totaling $ 827 million , $ 440 million , and $ 116 million during 2013 , 2012 , and 2011 .in addition , our income tax liabilities for 2013 , 2012 , and 2011 were reduced by $ 158 million , $ 96 million , and $ 56 million due to recognized tax benefits on stock-based compensation arrangements .stock-based compensation plans under plans approved by our stockholders , we are authorized to grant key employees stock-based incentive awards , including options to purchase common stock , stock appreciation rights , restricted stock units ( rsus ) , performance stock units ( psus ) , or other stock units .the exercise price of options to purchase common stock may not be less than the fair market value of our stock on the date of grant .no award of stock options may become fully vested prior to the third anniversary of the grant , and no portion of a stock option grant may become vested in less than one year .the minimum vesting period for restricted stock or stock units payable in stock is three years .award agreements may provide for shorter or pro-rated vesting periods or vesting following termination of employment in the case of death , disability , divestiture , retirement , change of control , or layoff .the maximum term of a stock option or any other award is 10 years .at december 31 , 2013 , inclusive of the shares reserved for outstanding stock options , rsus and psus , we had 20.4 million shares reserved for issuance under the plans .at december 31 , 2013 , 4.7 million of the shares reserved for issuance remained available for grant under our stock-based compensation plans .we issue new shares upon the exercise of stock options or when restrictions on rsus and psus have been satisfied .the following table summarizes activity related to nonvested rsus during 2013 : number of rsus ( in thousands ) weighted average grant-date fair value per share .
[['', 'number of rsus ( in thousands )', 'weighted average grant-date fair value pershare'], ['nonvested at december 31 2012', '4822', '$ 79.10'], ['granted', '1356', '89.24'], ['vested', '-2093 ( 2093 )', '79.26'], ['forfeited', '-226 ( 226 )', '81.74'], ['nonvested at december 31 2013', '3859', '$ 82.42']]
rsus are valued based on the fair value of our common stock on the date of grant .employees who are granted rsus receive the right to receive shares of stock after completion of the vesting period , however , the shares are not issued , and the employees cannot sell or transfer shares prior to vesting and have no voting rights until the rsus vest , generally three years from the date of the award .employees who are granted rsus receive dividend-equivalent cash payments only upon vesting .for these rsu awards , the grant-date fair value is equal to the closing market price of our common stock on the date of grant less a discount to reflect the delay in payment of dividend-equivalent cash payments .we recognize the grant-date fair value of rsus , less estimated forfeitures , as compensation expense ratably over the requisite service period , which beginning with the rsus granted in 2013 is shorter than the vesting period if the employee is retirement eligible on the date of grant or will become retirement eligible before the end of the vesting period .stock options we generally recognize compensation cost for stock options ratably over the three-year vesting period .at december 31 , 2013 and 2012 , there were 10.2 million ( weighted average exercise price of $ 83.65 ) and 20.6 million ( weighted average exercise price of $ 83.15 ) stock options outstanding .stock options outstanding at december 31 , 2013 have a weighted average remaining contractual life of approximately five years and an aggregate intrinsic value of $ 663 million , and we expect nearly all of these stock options to vest .of the stock options outstanding , 7.7 million ( weighted average exercise price of $ 84.37 ) have vested as of december 31 , 2013 and those stock options have a weighted average remaining contractual life of approximately four years and an aggregate intrinsic value of $ 497 million .there were 10.1 million ( weighted average exercise price of $ 82.72 ) stock options exercised during 2013 .we did not grant stock options to employees during 2013. .
|
what was the difference in the weighted average grant-date fair value per share between 2012 and 2013?\\n
|
3.32
|
{
"answer": "3.32",
"decimal": 3.32,
"type": "float"
}
| |
the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2014 estimated expense as a baseline .table 29 : pension expense 2013 sensitivity analysis change in assumption ( a ) estimated increase/ ( decrease ) to 2014 pension expense ( in millions ) .
[['change in assumption ( a )', 'estimated increase/ ( decrease ) to 2014 pension expense ( in millions )'], ['.5% ( .5 % ) decrease in discount rate', '$ -2 ( 2 )'], ['.5% ( .5 % ) decrease in expected long-term return on assets', '$ 21'], ['.5% ( .5 % ) increase in compensation rate', '$ 1']]
( a ) the impact is the effect of changing the specified assumption while holding all other assumptions constant .our pension plan contribution requirements are not particularly sensitive to actuarial assumptions .investment performance has the most impact on contribution requirements and will drive the amount of required contributions in future years .also , current law , including the provisions of the pension protection act of 2006 , sets limits as to both minimum and maximum contributions to the plan .we do not expect to be required by law to make any contributions to the plan during 2014 .we maintain other defined benefit plans that have a less significant effect on financial results , including various nonqualified supplemental retirement plans for certain employees , which are described more fully in note 15 employee benefit plans in the notes to consolidated financial statements in item 8 of this report .recourse and repurchase obligations as discussed in note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements in item 8 of this report , pnc has sold commercial mortgage , residential mortgage and home equity loans directly or indirectly through securitization and loan sale transactions in which we have continuing involvement .one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets .commercial mortgage loan recourse obligations we originate , close and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s delegated underwriting and servicing ( dus ) program .we participated in a similar program with the fhlmc .our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment .for more information regarding our commercial mortgage loan recourse obligations , see the recourse and repurchase obligations section of note 24 commitments and guarantees included in the notes to consolidated financial statements in item 8 of this report .residential mortgage repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors .these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements .residential mortgage loans covered by these loan repurchase obligations include first and second-lien mortgage loans we have sold through agency securitizations , non-agency securitizations , and loan sale transactions .as discussed in note 3 in the notes to consolidated financial statements in item 8 of this report , agency securitizations consist of mortgage loan sale transactions with fnma , fhlmc and the government national mortgage association ( gnma ) , while non-agency securitizations consist of mortgage loan sale transactions with private investors .mortgage loan sale transactions that are not part of a securitization may involve fnma , fhlmc or private investors .our historical exposure and activity associated with agency securitization repurchase obligations has primarily been related to transactions with fnma and fhlmc , as indemnification and repurchase losses associated with fha and va-insured and uninsured loans pooled in gnma securitizations historically have been minimal .repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment .loan covenants and representations and warranties are established through loan sale agreements with various investors to provide assurance that pnc has sold loans that are of sufficient investment quality .key aspects of such covenants and representations and warranties include the loan 2019s compliance with any applicable loan criteria established for the transaction , including underwriting standards , delivery of all required loan documents to the investor or its designated party , sufficient collateral valuation and the validity of the lien securing the loan .as a result of alleged breaches of these contractual obligations , investors may request pnc to indemnify them against losses on certain loans or to repurchase loans .we investigate every investor claim on a loan by loan basis to determine the existence of a legitimate claim and that all other conditions for indemnification or repurchase have been met prior to the settlement with that investor .indemnifications for loss or loan repurchases typically occur when , after review of the claim , we agree insufficient evidence exists to dispute the investor 2019s claim that a breach of a loan covenant and representation and warranty has occurred , such breach has not been cured and the effect of such breach is deemed to have had a material and adverse effect on the value of the transferred loan .depending on the sale agreement and upon proper notice from the investor , we typically respond to such indemnification and repurchase requests within 60 days , although final resolution of the claim may take a longer period of time .with the exception of the sales agreements associated the pnc financial services group , inc .2013 form 10-k 67 .
|
what is the difference in millions on the pension expense effect of a .5% ( .5 % ) decrease in expected long-term return on assets compared to a .5% ( .5 % ) increase in compensation rate?
|
20
|
{
"answer": "20",
"decimal": 20,
"type": "float"
}
| |
in asset positions , which totaled $ 41.2 million at june 30 , 2009 .to manage this risk , we have established strict counterparty credit guidelines that are continually monitored and reported to management .accordingly , management believes risk of loss under these hedging contracts is remote .certain of our derivative fi nancial instruments contain credit-risk-related contingent features .as of june 30 , 2009 , we were in compliance with such features and there were no derivative financial instruments with credit-risk-related contingent features that were in a net liability position .the est{e lauder companies inc .111 market risk we use a value-at-risk model to assess the market risk of our derivative fi nancial instruments .value-at-risk rep resents the potential losses for an instrument or portfolio from adverse changes in market factors for a specifi ed time period and confi dence level .we estimate value- at-risk across all of our derivative fi nancial instruments using a model with historical volatilities and correlations calculated over the past 250-day period .the high , low and average measured value-at-risk for the twelve months ended june 30 , 2009 and 2008 related to our foreign exchange and interest rate contracts are as follows: .
[['( in millions )', 'june 30 2009 high', 'june 30 2009 low', 'june 30 2009 average', 'june 30 2009 high', 'june 30 2009 low', 'average'], ['foreign exchange contracts', '$ 28.4', '$ 14.2', '$ 21.6', '$ 18.8', '$ 5.3', '$ 11.3'], ['interest rate contracts', '34.3', '23.0', '29.5', '28.8', '12.6', '20.0']]
the change in the value-at-risk measures from the prior year related to our foreign exchange contracts refl ected an increase in foreign exchange volatilities and a different portfolio mix .the change in the value-at-risk measures from the prior year related to our interest rate contracts refl ected higher interest rate volatilities .the model esti- mates were made assuming normal market conditions and a 95 percent confi dence level .we used a statistical simulation model that valued our derivative fi nancial instruments against one thousand randomly generated market price paths .our calculated value-at-risk exposure represents an esti mate of reasonably possible net losses that would be recognized on our portfolio of derivative fi nancial instru- ments assuming hypothetical movements in future market rates and is not necessarily indicative of actual results , which may or may not occur .it does not represent the maximum possible loss or any expected loss that may occur , since actual future gains and losses will differ from those estimated , based upon actual fl uctuations in market rates , operating exposures , and the timing thereof , and changes in our portfolio of derivative fi nancial instruments during the year .we believe , however , that any such loss incurred would be offset by the effects of market rate movements on the respective underlying transactions for which the deriva- tive fi nancial instrument was intended .off-balance sheet arrangements we do not maintain any off-balance sheet arrangements , transactions , obligations or other relationships with unconsolidated entities that would be expected to have a material current or future effect upon our fi nancial condi- tion or results of operations .recently adopted accounting standards in may 2009 , the financial accounting standards board ( 201cfasb 201d ) issued statement of financial accounting standards ( 201csfas 201d ) no .165 , 201csubsequent events 201d ( 201csfas no .165 201d ) .sfas no .165 requires the disclosure of the date through which an entity has evaluated subsequent events for potential recognition or disclosure in the fi nan- cial statements and whether that date represents the date the fi nancial statements were issued or were available to be issued .this standard also provides clarifi cation about circumstances under which an entity should recognize events or transactions occurring after the balance sheet date in its fi nancial statements and the disclosures that an entity should make about events or transactions that occurred after the balance sheet date .this standard is effective for interim and annual periods beginning with our fi scal year ended june 30 , 2009 .the adoption of this standard did not have a material impact on our consoli- dated fi nancial statements .in march 2008 , the fasb issued sfas no .161 , 201cdisclosures about derivative instruments and hedging activities 2014 an amendment of fasb statement no .133 201d ( 201csfas no .161 201d ) .sfas no .161 requires companies to provide qualitative disclosures about their objectives and strategies for using derivative instruments , quantitative disclosures of the fair values of , and gains and losses on , these derivative instruments in a tabular format , as well as more information about liquidity by requiring disclosure of a derivative contract 2019s credit-risk-related contingent .
|
considering the foreign exchange contracts , what is the difference between its average during 2008 and 2009?
|
10.3
|
{
"answer": "10.3",
"decimal": 10.3,
"type": "float"
}
|
it is the variation between these values.\\n
|
all debt and common and preferred stock issuances by entergy texas require prior regulatory approval .debt issuances are also subject to issuance tests set forth in its bond indenture and other agreements .entergy texas has sufficient capacity under these tests to meet its foreseeable capital needs .entergy texas 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. .
[['2017', '2016', '2015', '2014'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['$ 44903', '$ 681', '( $ 22068 )', '$ 306']]
see note 4 to the financial statements for a description of the money pool .entergy texas has a credit facility in the amount of $ 150 million scheduled to expire in august 2022 .the credit facility allows entergy texas to issue letters of credit against $ 30 million of the borrowing capacity of the facility .as of december 31 , 2017 , there were no cash borrowings and $ 25.6 million of letters of credit outstanding under the credit facility .in addition , entergy texas is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations to miso .as of december 31 , 2017 , a $ 22.8 million letter of credit was outstanding under entergy texas 2019s letter of credit facility .see note 4 to the financial statements for additional discussion of the credit facilities .entergy texas obtained authorizations from the ferc through october 2019 for short-term borrowings , not to exceed an aggregate amount of $ 200 million at any time outstanding , and long-term borrowings and security issuances .see note 4 to the financial statements for further discussion of entergy texas 2019s short-term borrowing limits .entergy texas , inc .and subsidiaries management 2019s financial discussion and analysis state and local rate regulation and fuel-cost recovery the rates that entergy texas charges for its services significantly influence its financial position , results of operations , and liquidity .entergy texas is regulated and the rates charged to its customers are determined in regulatory proceedings .the puct , a governmental agency , is primarily responsible for approval of the rates charged to customers .filings with the puct 2011 rate case in november 2011 , entergy texas filed a rate case requesting a $ 112 million base rate increase reflecting a 10.6% ( 10.6 % ) return on common equity based on an adjusted june 2011 test year . a0 a0the rate case also proposed a purchased power recovery rider . a0 a0on january 12 , 2012 , the puct voted not to address the purchased power recovery rider in the rate case , but the puct voted to set a baseline in the rate case proceeding that would be applicable if a purchased power capacity rider is approved in a separate proceeding . a0 a0in april 2012 the puct staff filed direct testimony recommending a base rate increase of $ 66 million and a 9.6% ( 9.6 % ) return on common equity . a0 a0the puct staff , however , subsequently filed a statement of position in the proceeding indicating that it was still evaluating the position it would ultimately take in the case regarding entergy texas 2019s recovery of purchased power capacity costs and entergy texas 2019s proposal to defer its miso transition expenses . a0 a0in april 2012 , entergy texas filed rebuttal testimony indicating a revised request for a $ 105 million base rate increase . a0 a0a hearing was held in late-april through early-may 2012 .in september 2012 the puct issued an order approving a $ 28 million rate increase , effective july 2012 . a0 a0the order included a finding that 201ca return on common equity ( roe ) of 9.80 percent will allow [entergy texas] a reasonable opportunity to earn a reasonable return on invested capital . 201d a0 a0the order also provided for increases in depreciation rates and the annual storm reserve accrual . a0 a0the order also reduced entergy texas 2019s proposed purchased power capacity costs , stating that they are not known and measurable ; reduced entergy texas 2019s regulatory assets associated with hurricane rita ; excluded from rate recovery capitalized financially-based incentive compensation ; included $ 1.6 million of miso transition expense in base rates ; and reduced entergy 2019s texas 2019s fuel reconciliation recovery by $ 4 .
|
if no payables were paid off between 2016 and 2017 , what is the value payables which were added in 2017?
|
44222
|
{
"answer": "44222",
"decimal": 44222,
"type": "float"
}
| |
notes to consolidated financial statements the amortized cost and fair value of fixed maturities by contractual maturity as of december 31 , 2007 , are as follows : amortized fair ( millions ) cost value .
[['( millions )', 'amortizedcost', 'fairvalue'], ['due in one year or less', '$ 50', '$ 50'], ['due after one year through five years', '52', '52'], ['due after five years through ten years', '47', '47'], ['due after ten years', '1', '1'], ['total fixed maturities', '$ 150', '$ 150']]
expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties .for categorization purposes , aon considers any rating of baa or higher by moody 2019s investor services or equivalent rating agency to be investment grade .aon 2019s continuing operations have no fixed maturities with an unrealized loss at december 31 , 2007 .aon 2019s fixed-maturity portfolio is subject to interest rate , market and credit risks .with a carrying value of approximately $ 150 million at december 31 , 2007 , aon 2019s total fixed-maturity portfolio is approximately 96% ( 96 % ) investment grade based on market value .aon 2019s non publicly-traded fixed maturity portfolio had a carrying value of $ 9 million .valuations of these securities primarily reflect the fundamental analysis of the issuer and current market price of comparable securities .aon 2019s equity portfolio is comprised of a preferred stock not publicly traded .this portfolio is subject to interest rate , market , credit , illiquidity , concentration and operational performance risks .limited partnership securitization .in 2001 , aon sold the vast majority of its limited partnership ( lp ) portfolio , valued at $ 450 million , to peps i , a qspe .the common stock interest in peps i is held by a limited liability company which is owned by aon ( 49% ( 49 % ) ) and by a charitable trust , which is not controlled by aon , established for victims of september 11 ( 51% ( 51 % ) ) .approximately $ 171 million of investment grade fixed-maturity securities were sold by peps i to unaffiliated third parties .peps i then paid aon 2019s insurance underwriting subsidiaries the $ 171 million in cash and issued to them an additional $ 279 million in fixed-maturity and preferred stock securities .as part of this transaction , aon is required to purchase from peps i additional fixed-maturity securities in an amount equal to the unfunded limited partnership commitments , as they are requested .aon funded $ 2 million of commitments in both 2007 and 2006 .as of december 31 , 2007 , these unfunded commitments amounted to $ 44 million .these commitments have specific expiration dates and the general partners may decide not to draw on these commitments .the carrying value of the peps i preferred stock was $ 168 million and $ 210 million at december 31 , 2007 and 2006 , respectively .prior to 2007 , income distributions received from peps i were limited to interest payments on various peps i debt instruments .beginning in 2007 , peps i had redeemed or collateralized all of its debt , and as a result , began to pay preferred income distributions .in 2007 , the company received $ 61 million of income distributions from peps i , which are included in investment income .aon corporation .
|
what is the percentage of the amortized cost of contracts due in one year or less among the total?
|
33.33%
|
{
"answer": "33.33%",
"decimal": 0.3333,
"type": "percentage"
}
|
it is the value of those contracts divided by the total , then turned into a percentage .
|
other income and expense for the three fiscal years ended september 28 , 2002 are as follows ( in millions ) : gains and losses on non-current investments investments categorized as non-current debt and equity investments on the consolidated balance sheet are in equity and debt instruments of public companies .the company's non-current debt and equity investments , and certain investments in private companies carried in other assets , have been categorized as available-for-sale requiring that they be carried at fair value with unrealized gains and losses , net of taxes , reported in equity as a component of accumulated other comprehensive income .however , the company recognizes an impairment charge to earnings in the event a decline in fair value below the cost basis of one of these investments is determined to be other-than-temporary .the company includes recognized gains and losses resulting from the sale or from other-than-temporary declines in fair value associated with these investments in other income and expense .further information related to the company's non-current debt and equity investments may be found in part ii , item 8 of this form 10-k at note 2 of notes to consolidated financial statements .during 2002 , the company determined that declines in the fair value of certain of these investments were other-than-temporary .as a result , the company recognized a $ 44 million charge to earnings to write-down the basis of its investment in earthlink , inc .( earthlink ) , a $ 6 million charge to earnings to write-down the basis of its investment in akamai technologies , inc .( akamai ) , and a $ 15 million charge to earnings to write-down the basis of its investment in a private company investment .these losses in 2002 were partially offset by the sale of 117000 shares of earthlink stock for net proceeds of $ 2 million and a gain before taxes of $ 223000 , the sale of 250000 shares of akamai stock for net proceeds of $ 2 million and a gain before taxes of $ 710000 , and the sale of approximately 4.7 million shares of arm holdings plc ( arm ) stock for both net proceeds and a gain before taxes of $ 21 million .during 2001 , the company sold a total of approximately 1 million shares of akamai stock for net proceeds of $ 39 million and recorded a gain before taxes of $ 36 million , and sold a total of approximately 29.8 million shares of arm stock for net proceeds of $ 176 million and recorded a gain before taxes of $ 174 million .these gains during 2001 were partially offset by a $ 114 million charge to earnings that reflected an other- than-temporary decline in the fair value of the company's investment in earthlink and an $ 8 million charge that reflected an other-than- temporary decline in the fair value of certain private company investments .during 2000 , the company sold a total of approximately 45.2 million shares of arm stock for net proceeds of $ 372 million and a gain before taxes of $ 367 million .the combined carrying value of the company's investments in earthlink , akamai , and arm as of september 28 , 2002 , was $ 39 million .the company believes it is likely there will continue to be significant fluctuations in the fair value of these investments in the future .accounting for derivatives and cumulative effect of accounting change on october 1 , 2000 , the company adopted statement of financial accounting standard ( sfas ) no .133 , accounting for derivative instruments and hedging activities .sfas no .133 established accounting and reporting standards for derivative instruments , hedging activities , and exposure definition .net of the related income tax effect of approximately $ 5 million , adoption of sfas no .133 resulted in a favorable cumulative-effect-type adjustment to net income of approximately $ 12 million for the first quarter of 2001 .the $ 17 million gross transition adjustment was comprised of a $ 23 million favorable adjustment for the restatement to fair value of the derivative component of the company's investment in samsung electronics co. , ltd .( samsung ) , partially offset by the unfavorable adjustments to certain foreign currency and interest rate derivatives .sfas no .133 also required the company to adjust the carrying value of the derivative component of its investment in samsung to earnings during the first quarter of 2001 , the before tax effect of which was an unrealized loss of approximately $ 13 million .interest and other income , net net interest and other income was $ 112 million in fiscal 2002 , compared to $ 217 million in fiscal 2001 .this $ 105 million or 48% ( 48 % ) decrease is .
[['', '2002', '2001', '2000'], ['gains ( losses ) on non-current investments net', '$ -42 ( 42 )', '$ 88', '$ 367'], ['unrealized loss on convertible securities', '$ 2014', '-13 ( 13 )', '$ 2014'], ['interest income', '$ 118', '$ 218', '$ 210'], ['interest expense', '-11 ( 11 )', '-16 ( 16 )', '-21 ( 21 )'], ['miscellaneous other income and expense', '5', '15', '14'], ['interest and other income net', '$ 112', '$ 217', '$ 203'], ['total other income and expense', '$ 70', '$ 292', '$ 570']]
total other income and expense .
|
what was the greatest amount of total other income and expense , in millions?
|
570
|
{
"answer": "570",
"decimal": 570,
"type": "float"
}
| |
liquidity and capital resources .
[['cash cash equivalents and short-term investments', '1999 $ 498.7', 'change 83% ( 83 % )', '1998 $ 272.5', 'change ( 46 ) % ( % )', '1997 $ 503.0'], ['working capital', '$ 355.4', '73% ( 73 % )', '$ 205.0', '( 55 ) % ( % )', '$ 454.3'], ["stockholders' equity", '$ 512.2', '( 0.8 ) % ( % )', '$ 516.4', '( 28 ) % ( % )', '$ 715.4']]
our cash , cash equivalents , and short-term investments consist principally of money market mutual funds , municipal bonds , and united states government agency securities .all of our cash equivalents and short-term investments are classified as available-for-sale under the provisions of sfas 115 , 2018 2018accounting for certain investments in debt and equity securities . 2019 2019 the securities are carried at fair value with the unrealized gains and losses , net of tax , included in accumulated other comprehensive income , which is reflected as a separate component of stockholders 2019 equity .our cash , cash equivalents , and short-term investments increased $ 226.2 million , or 83% ( 83 % ) , in fiscal 1999 , primarily due to cash generated from operations of $ 334.2 million , proceeds from the issuance of treasury stock related to the exercise of stock options under our stock option plans and sale of stock under the employee stock purchase plan of $ 142.9 million , and the release of restricted funds totaling $ 130.3 million associated with the refinancing of our corporate headquarters lease agreement .other sources of cash include the proceeds from the sale of equity securities and the sale of a building in the amount of $ 63.9 million and $ 40.6 million , respectively .in addition , short-term investments increased due to a reclassification of $ 46.7 million of investments classified as long-term to short-term as well as mark-to-market adjustments totaling $ 81.2 million .these factors were partially offset by the purchase of treasury stock in the amount of $ 479.2 million , capital expenditures of $ 42.2 million , the purchase of other assets for $ 43.5 million , the purchase of the assets of golive systems and attitude software for $ 36.9 million , and the payment of dividends totaling $ 12.2 million .we expect to continue our investing activities , including expenditures for computer systems for research and development , sales and marketing , product support , and administrative staff .furthermore , cash reserves may be used to purchase treasury stock and acquire software companies , products , or technologies that are complementary to our business .in september 1997 , adobe 2019s board of directors authorized , subject to certain business and market conditions , the purchase of up to 30.0 million shares of our common stock over a two-year period .we repurchased approximately 1.7 million shares in the first quarter of fiscal 1999 , 20.3 million shares in fiscal 1998 , and 8.0 million shares in fiscal 1997 , at a cost of $ 30.5 million , $ 362.4 million , and $ 188.6 million , respectively .this program was completed during the first quarter of fiscal 1999 .in april 1999 , adobe 2019s board of directors authorized , subject to certain business and market conditions , the purchase of up to an additional 5.0 million shares of our common stock over a two-year period .this new stock repurchase program was in addition to an existing program whereby we have been authorized to repurchase shares to offset issuances under employee stock option and stock purchase plans .no purchases have been made under the 5.0 million share repurchase program .under our existing plan to repurchase shares to offset issuances under employee stock plans , we repurchased approximately 11.2 million , 0.7 million , and 4.6 million shares in fiscal 1999 , 1998 , and 1997 , respectively , at a cost of $ 448.7 million , $ 16.8 million , and $ 87.0 million , respectively .we have paid cash dividends on our common stock each quarter since the second quarter of 1988 .adobe 2019s board of directors declared a cash dividend on our common stock of $ 0.025 per common share for each of the four quarters in fiscal 1999 , 1998 , and 1997 .on december 1 , 1997 , we dividended one share of siebel common stock for each 600 shares of adobe common stock held by stockholders of record on october 31 , 1997 .an equivalent cash dividend was paid for holdings of less than 15000 adobe shares and .
|
what percentage of cash , cash equivalents , and short-term investments was due to cash generated from operations?
|
148%
|
{
"answer": "148%",
"decimal": 1.48,
"type": "percentage"
}
| |
jpmorgan chase & co./2010 annual report 59 consolidated results of operations this following section provides a comparative discussion of jpmorgan chase 2019s consolidated results of operations on a reported basis for the three-year period ended december 31 , 2010 .factors that related primarily to a single business segment are discussed in more detail within that business segment .for a discussion of the critical accounting estimates used by the firm that affect the consolidated results of operations , see pages 149 2013 154 of this annual report .revenue year ended december 31 , ( in millions ) 2010 2009 2008 .
[['year ended december 31 ( in millions )', '2010', '2009', '2008'], ['investment banking fees', '$ 6190', '$ 7087', '$ 5526'], ['principal transactions', '10894', '9796', '-10699 ( 10699 )'], ['lending- and deposit-related fees', '6340', '7045', '5088'], ['asset management administrationand commissions', '13499', '12540', '13943'], ['securities gains', '2965', '1110', '1560'], ['mortgage fees and related income', '3870', '3678', '3467'], ['credit card income', '5891', '7110', '7419'], ['other income', '2044', '916', '2169'], ['noninterest revenue', '51693', '49282', '28473'], ['net interest income', '51001', '51152', '38779'], ['total net revenue', '$ 102694', '$ 100434', '$ 67252']]
2010 compared with 2009 total net revenue for 2010 was $ 102.7 billion , up by $ 2.3 billion , or 2% ( 2 % ) , from 2009 .results for 2010 were driven by a higher level of securities gains and private equity gains in corporate/private equity , higher asset management fees in am and administration fees in tss , and higher other income in several businesses , partially offset by lower credit card income .investment banking fees decreased from 2009 due to lower equity underwriting and advisory fees , partially offset by higher debt underwriting fees .competitive markets combined with flat industry-wide equity underwriting and completed m&a volumes , resulted in lower equity underwriting and advisory fees ; while strong industry-wide loan syndication and high-yield bond volumes drove record debt underwriting fees in ib .for additional information on investment banking fees , which are primarily recorded in ib , see ib segment results on pages 69 201371 of this annual report .principal transactions revenue , which consists of revenue from the firm 2019s trading and private equity investing activities , increased compared with 2009 .this was driven by the private equity business , which had significant private equity gains in 2010 , compared with a small loss in 2009 , reflecting improvements in market conditions .trading revenue decreased , reflecting lower results in corporate , offset by higher revenue in ib primarily reflecting gains from the widening of the firm 2019s credit spread on certain structured and derivative liabilities .for additional information on principal transactions revenue , see ib and corporate/private equity segment results on pages 69 201371 and 89 2013 90 , respectively , and note 7 on pages 199 2013200 of this annual report .lending- and deposit-related fees decreased in 2010 from 2009 levels , reflecting lower deposit-related fees in rfs associated , in part , with newly-enacted legislation related to non-sufficient funds and overdraft fees ; this was partially offset by higher lending- related service fees in ib , primarily from growth in business volume , and in cb , primarily from higher commitment and letter-of-credit fees .for additional information on lending- and deposit-related fees , which are mostly recorded in ib , rfs , cb and tss , see segment results for ib on pages 69 201371 , rfs on pages 72 201378 , cb on pages 82 201383 and tss on pages 84 201385 of this annual report .asset management , administration and commissions revenue increased from 2009 .the increase largely reflected higher asset management fees in am , driven by the effect of higher market levels , net inflows to products with higher margins and higher performance fees ; and higher administration fees in tss , reflecting the effects of higher market levels and net inflows of assets under custody .this increase was partially offset by lower brokerage commissions in ib , as a result of lower market volumes .for additional information on these fees and commissions , see the segment discussions for am on pages 86 201388 and tss on pages 84 201385 of this annual report .securities gains were significantly higher in 2010 compared with 2009 , resulting primarily from the repositioning of the portfolio in response to changes in the interest rate environment and to rebalance exposure .for additional information on securities gains , which are mostly recorded in the firm 2019s corporate segment , see the corporate/private equity segment discussion on pages 89 201390 of this annual report .mortgage fees and related income increased in 2010 compared with 2009 , driven by higher mortgage production revenue , reflecting increased mortgage origination volumes in rfs and am , and wider margins , particularly in rfs .this increase was largely offset by higher repurchase losses in rfs ( recorded as contra- revenue ) , which were attributable to higher estimated losses related to repurchase demands , predominantly from gses .for additional information on mortgage fees and related income , which is recorded primarily in rfs , see rfs 2019s mortgage banking , auto & other consumer lending discussion on pages 74 201377 of this annual report .for additional information on repurchase losses , see the repurchase liability discussion on pages 98 2013101 and note 30 on pages 275 2013280 of this annual report .credit card income decreased during 2010 , predominantly due to the impact of the accounting guidance related to vies , effective january 1 , 2010 , that required the firm to consolidate the assets and liabilities of its firm-sponsored credit card securitization trusts .adoption of the new guidance resulted in the elimination of all servicing fees received from firm-sponsored credit card securitization trusts ( which was offset by related increases in net .
|
what was noninterest revenue as a percent of total net revenue in 2009?
|
49%
|
{
"answer": "49%",
"decimal": 0.49,
"type": "percentage"
}
| |
borrowings reflect net proceeds received from the issuance of senior notes in june 2015 .see liquidity and capital resources below for additional information .in november 2015 , we repaid our $ 1 billion 0.90% ( 0.90 % ) senior notes upon maturity .in october 2015 , we announced an adjustment to our quarterly dividend .see capital requirements below for additional information .additions to property , plant and equipment are our most significant use of cash and cash equivalents .the following table shows capital expenditures related to continuing operations by segment and reconciles to additions to property , plant and equipment as presented in the consolidated statements of cash flows for 2015 , 2014 and 2013: .
[['( in millions )', 'year ended december 31 , 2015', 'year ended december 31 , 2014', 'year ended december 31 , 2013'], ['north america e&p', '$ 2553', '$ 4698', '$ 3649'], ['international e&p', '368', '534', '456'], ['oil sands mining ( a )', '-10 ( 10 )', '212', '286'], ['corporate', '25', '51', '58'], ['total capital expenditures', '2936', '5495', '4449'], ['change in capital expenditure accrual', '540', '-335 ( 335 )', '-6 ( 6 )'], ['additions to property plant and equipment', '$ 3476', '$ 5160', '$ 4443']]
( a ) reflects reimbursements earned from the governments of canada and alberta related to funds previously expended for quest ccs capital equipment .quest ccs was successfully completed and commissioned in the fourth quarter of 2015 .during 2014 , we acquired 29 million shares at a cost of $ 1 billion and in 2013 acquired 14 million shares at a cost of $ 500 million .there were no share repurchases in 2015 .see item 8 .financial statements and supplementary data 2013 note 23 to the consolidated financial statements for discussion of purchases of common stock .liquidity and capital resources on june 10 , 2015 , we issued $ 2 billion aggregate principal amount of unsecured senior notes which consist of the following series : 2022 $ 600 million of 2.70% ( 2.70 % ) senior notes due june 1 , 2020 2022 $ 900 million of 3.85% ( 3.85 % ) senior notes due june 1 , 2025 2022 $ 500 million of 5.20% ( 5.20 % ) senior notes due june 1 , 2045 interest on each series of senior notes is payable semi-annually beginning december 1 , 2015 .we used the aggregate net proceeds to repay our $ 1 billion 0.90% ( 0.90 % ) senior notes on november 2 , 2015 , and the remainder for general corporate purposes .in may 2015 , we amended our $ 2.5 billion credit facility to increase the facility size by $ 500 million to a total of $ 3.0 billion and extend the maturity date by an additional year such that the credit facility now matures in may 2020 .the amendment additionally provides us the ability to request two one-year extensions to the maturity date and an option to increase the commitment amount by up to an additional $ 500 million , subject to the consent of any increasing lenders .the sub-facilities for swing-line loans and letters of credit remain unchanged allowing up to an aggregate amount of $ 100 million and $ 500 million , respectively .fees on the unused commitment of each lender , as well as the borrowing options under the credit facility , remain unchanged .our main sources of liquidity are cash and cash equivalents , internally generated cash flow from operations , capital market transactions , our committed revolving credit facility and sales of non-core assets .our working capital requirements are supported by these sources and we may issue either commercial paper backed by our $ 3.0 billion revolving credit facility or draw on our $ 3.0 billion revolving credit facility to meet short-term cash requirements or issue debt or equity securities through the shelf registration statement discussed below as part of our longer-term liquidity and capital management .because of the alternatives available to us as discussed above , we believe that our short-term and long-term liquidity is adequate to fund not only our current operations , but also our near-term and long-term funding requirements including our capital spending programs , dividend payments , defined benefit plan contributions , repayment of debt maturities and other amounts that may ultimately be paid in connection with contingencies .general economic conditions , commodity prices , and financial , business and other factors could affect our operations and our ability to access the capital markets .a downgrade in our credit ratings could negatively impact our cost of capital and our ability to access the capital markets , increase the interest rate and fees we pay on our unsecured revolving credit facility , restrict our access to the commercial paper market , or require us to post letters of credit or other forms of collateral for certain .
|
during 2013 , what was the average cost per share acquired?
|
35.71
|
{
"answer": "35.71",
"decimal": 35.71,
"type": "float"
}
| |
table of contents hologic , inc .notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) the acquisition also provides for up to two annual earn-out payments not to exceed $ 15000 in the aggregate based on biolucent 2019s achievement of certain revenue targets .the company considered the provision of eitf 95-8 , and concluded that this contingent consideration represents additional purchase price .as a result , goodwill will be increased by the amount of the additional consideration , if any , as it is earned .as of september 26 , 2009 , the company has not recorded any amounts for these potential earn-outs .the allocation of the purchase price was based upon estimates of the fair value of assets acquired and liabilities assumed as of september 18 , 2007 .the components and allocation of the purchase price consisted of the following approximate amounts: .
[['net tangible assets acquired as of september 18 2007', '$ 2800'], ['developed technology and know how', '12300'], ['customer relationship', '17000'], ['trade name', '2800'], ['deferred income tax liabilities net', '-9500 ( 9500 )'], ['goodwill', '47800'], ['final purchase price', '$ 73200']]
as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .it was determined that only customer relationship , trade name and developed technology had separately identifiable values .the fair value of these intangible assets was determined through the application of the income approach .customer relationship represented a large customer base that was expected to purchase the disposable mammopad product on a regular basis .trade name represented the biolucent product name that the company intended to continue to use .developed technology represented currently marketable purchased products that the company continues to sell as well as utilize to enhance and incorporate into the company 2019s existing products .the deferred income tax liability relates to the tax effect of acquired identifiable intangible assets and fair value adjustments to acquired inventory , as such amounts are not deductible for tax purposes , partially offset by acquired net operating loss carryforwards of approximately $ 2400 .4 .sale of gestiva on january 16 , 2008 , the company entered into a definitive agreement pursuant to which it agreed to sell full u.s .and world-wide rights to gestiva to k-v pharmaceutical company upon approval of the pending gestiva new drug application ( the 201cgestiva nda 201d ) by the fda for a purchase price of $ 82000 .the company received $ 9500 of the purchase price in fiscal 2008 , and the balance is due upon final approval of the gestiva nda by the fda on or before february 19 , 2010 and the production of a quantity of gestiva suitable to enable the commercial launch of the product .either party has the right to terminate the agreement if fda approval is not obtained by february 19 , 2010 .the company agreed to continue its efforts to obtain fda approval of the nda for gestiva as part of this arrangement .all costs incurred in these efforts will be reimbursed by k-v pharmaceutical and are being recorded as a credit against research and development expenses .during fiscal 2009 and 2008 , these reimbursed costs were not material .the company recorded the $ 9500 as a deferred gain within current liabilities in the consolidated balance sheet .the company expects that the gain will be recognized upon the closing of the transaction following final fda approval of the gestiva nda or if the agreement is terminated .the company cannot assure that it will be able to obtain the requisite fda approval , that the transaction will be completed or that it will receive the balance of the purchase price .moreover , if k-v pharmaceutical terminates the agreement as a result of a breach by the company of a material representation , warranty , covenant or agreement , the company will be required to return the funds previously received as well as expenses reimbursed by k-v .source : hologic inc , 10-k , november 24 , 2009 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .past financial performance is no guarantee of future results. .
|
what portion of the final purchase price is related to goodwill?
|
65.3%
|
{
"answer": "65.3%",
"decimal": 0.653,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements as of december 31 , 2010 and 2009 , the company had $ 295.4 million and $ 295.0 million net , respectively ( $ 300.0 million aggregate principal amount ) outstanding under the 7.25% ( 7.25 % ) notes .as of december 31 , 2010 and 2009 , the carrying value includes a discount of $ 4.6 million and $ 5.0 million , respectively .5.0% ( 5.0 % ) convertible notes 2014the 5.0% ( 5.0 % ) convertible notes due 2010 ( 201c5.0% ( 201c5.0 % ) notes 201d ) matured on february 15 , 2010 , and interest was payable semiannually on february 15 and august 15 of each year .the 5.0% ( 5.0 % ) notes were convertible at any time into shares of the company 2019s class a common stock ( 201ccommon stock 201d ) at a conversion price of $ 51.50 per share , subject to adjustment in certain cases .as of december 31 , 2010 and 2009 , the company had none and $ 59.7 million outstanding , respectively , under the 5.0% ( 5.0 % ) notes .ati 7.25% ( 7.25 % ) senior subordinated notes 2014the ati 7.25% ( 7.25 % ) notes were issued with a maturity of december 1 , 2011 and interest was payable semi-annually in arrears on june 1 and december 1 of each year .the ati 7.25% ( 7.25 % ) notes were jointly and severally guaranteed on a senior subordinated basis by the company and substantially all of the wholly owned domestic restricted subsidiaries of ati and the company , other than spectrasite and its subsidiaries .the notes ranked junior in right of payment to all existing and future senior indebtedness of ati , the sister guarantors ( as defined in the indenture relating to the notes ) and their domestic restricted subsidiaries .the ati 7.25% ( 7.25 % ) notes were structurally senior in right of payment to all other existing and future indebtedness of the company , including the company 2019s senior notes , convertible notes and the revolving credit facility and term loan .during the year ended december 31 , 2010 , ati issued a notice for the redemption of the principal amount of its outstanding ati 7.25% ( 7.25 % ) notes .in accordance with the redemption provisions and the indenture for the ati 7.25% ( 7.25 % ) notes , the notes were redeemed at a price equal to 100.00% ( 100.00 % ) of the principal amount , plus accrued and unpaid interest up to , but excluding , september 23 , 2010 , for an aggregate purchase price of $ 0.3 million .as of december 31 , 2010 and 2009 , the company had none and $ 0.3 million , respectively , outstanding under the ati 7.25% ( 7.25 % ) notes .capital lease obligations and notes payable 2014the company 2019s capital lease obligations and notes payable approximated $ 46.3 million and $ 59.0 million as of december 31 , 2010 and 2009 , respectively .these obligations bear interest at rates ranging from 2.5% ( 2.5 % ) to 9.3% ( 9.3 % ) and mature in periods ranging from less than one year to approximately seventy years .maturities 2014as of december 31 , 2010 , aggregate carrying value of long-term debt , including capital leases , for the next five years and thereafter are estimated to be ( in thousands ) : year ending december 31 .
[['2011', '$ 74896'], ['2012', '625884'], ['2013', '618'], ['2014', '1750479'], ['2015', '600489'], ['thereafter', '2541858'], ['total cash obligations', '5594224'], ['unamortized discounts and premiums net', '-6836 ( 6836 )'], ['balance as of december 31 2010', '$ 5587388']]
.
|
what is the percentage change in the balance of capital lease obligations and notes payable from 2009 to 2010?
|
-21.5%
|
{
"answer": "-21.5%",
"decimal": -0.215,
"type": "percentage"
}
| |
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 company for an aggregate proceeds of approximately $ 234 million .the company recognized a gain on disposal of $ 6 million , net of tax , during the year ended december 31 , 2010 .ras laffan was previously reported in the asia generation segment .23 .acquisitions and dispositions acquisitions dpl 2014on november 28 , 2011 , aes completed its acquisition of 100% ( 100 % ) of the common stock of dpl for approximately $ 3.5 billion , pursuant to the terms and conditions of a definitive agreement ( the 201cmerger agreement 201d ) dated april 19 , 2011 .dpl serves over 500000 customers , primarily west central ohio , through its operating subsidiaries dp&l and dpl energy resources ( 201cdpler 201d ) .additionally , dpl operates over 3800 mw of power generation facilities and provides competitive retail energy services to residential , commercial , industrial and governmental customers .the acquisition strengthens the company 2019s u.s .utility operations by expanding in the midwest and pjm , a regional transmission organization serving several eastern states as part of the eastern interconnection .the company expects to benefit from the regional scale provided by indianapolis power & light company , its nearby integrated utility business in indiana .aes funded the aggregate purchase consideration through a combination of the following : 2022 the proceeds from a $ 1.05 billion term loan obtained in may 2011 ; 2022 the proceeds from a private offering of $ 1.0 billion notes in june 2011 ; 2022 temporary borrowings of $ 251 million under its revolving credit facility ; and 2022 the proceeds from private offerings of $ 450 million aggregate principal amount of 6.50% ( 6.50 % ) senior notes due 2016 and $ 800 million aggregate principal amount of 7.25% ( 7.25 % ) senior notes due 2021 ( collectively , the 201cnotes 201d ) in october 2011 by dolphin subsidiary ii , inc .( 201cdolphin ii 201d ) , a wholly-owned special purpose indirect subsidiary of aes , which was merged into dpl upon the completion of acquisition .the fair value of the consideration paid for dpl was as follows ( in millions ) : .
[['agreed enterprise value', '$ 4719'], ['less : fair value of assumed long-term debt outstanding net', '-1255 ( 1255 )'], ['cash consideration paid to dpl 2019s common stockholders', '3464'], ['add : cash paid for outstanding stock-based awards', '19'], ['total cash consideration paid', '$ 3483']]
.
|
total cash consideration was what percent of the enterprise value of dpl?
|
74%
|
{
"answer": "74%",
"decimal": 0.74,
"type": "percentage"
}
| |
tax benefits recognized for stock-based compensation during the years ended december 31 , 2011 , 2010 and 2009 , were $ 16 million , $ 6 million and $ 5 million , respectively .the amount of northrop grumman shares issued before the spin-off to satisfy stock-based compensation awards are recorded by northrop grumman and , accordingly , are not reflected in hii 2019s consolidated financial statements .the company realized tax benefits during the year ended december 31 , 2011 , of $ 2 million from the exercise of stock options and $ 10 million from the issuance of stock in settlement of rpsrs and rsrs .unrecognized compensation expense at december 31 , 2011 there was $ 1 million of unrecognized compensation expense related to unvested stock option awards , which will be recognized over a weighted average period of 1.1 years .in addition , at december 31 , 2011 , there was $ 19 million of unrecognized compensation expense associated with the 2011 rsrs , which will be recognized over a period of 2.2 years ; $ 10 million of unrecognized compensation expense associated with the rpsrs converted as part of the spin-off , which will be recognized over a weighted average period of one year ; and $ 18 million of unrecognized compensation expense associated with the 2011 rpsrs which will be recognized over a period of 2.0 years .stock options the compensation expense for the outstanding converted stock options was determined at the time of grant by northrop grumman .there were no additional options granted during the year ended december 31 , 2011 .the fair value of the stock option awards is expensed on a straight-line basis over the vesting period of the options .the fair value of each of the stock option award was estimated on the date of grant using a black-scholes option pricing model based on the following assumptions : dividend yield 2014the dividend yield was based on northrop grumman 2019s historical dividend yield level .volatility 2014expected volatility was based on the average of the implied volatility from traded options and the historical volatility of northrop grumman 2019s stock .risk-free interest rate 2014the risk-free rate for periods within the contractual life of the stock option award was based on the yield curve of a zero-coupon u.s .treasury bond on the date the award was granted with a maturity equal to the expected term of the award .expected term 2014the expected term of awards granted was derived from historical experience and represents the period of time that awards granted are expected to be outstanding .a stratification of expected terms based on employee populations ( executive and non-executive ) was considered in the analysis .the following significant weighted-average assumptions were used to value stock options granted during the years ended december 31 , 2010 and 2009: .
[['', '2010', '2009'], ['dividend yield', '2.9% ( 2.9 % )', '3.6% ( 3.6 % )'], ['volatility rate', '25% ( 25 % )', '25% ( 25 % )'], ['risk-free interest rate', '2.3% ( 2.3 % )', '1.7% ( 1.7 % )'], ['expected option life ( years )', '6', '5 & 6']]
the weighted-average grant date fair value of stock options granted during the years ended december 31 , 2010 and 2009 , was $ 11 and $ 7 , per share , respectively. .
|
what was the percentage decline in the dividend yield from 2009 to 2010
|
-19.4%
|
{
"answer": "-19.4%",
"decimal": -0.19399999999999998,
"type": "percentage"
}
|
the percentage change is the difference between the current and most recent divided by the most recent
|
note 8 .acquisitions during fiscal 2017 , cadence completed two business combinations for total cash consideration of $ 142.8 million , after taking into account cash acquired of $ 4.2 million .the total purchase consideration was allocated to the assets acquired and liabilities assumed based on their respective estimated fair values on the acquisition dates .cadence recorded a total of $ 76.4 million of acquired intangible assets ( of which $ 71.5 million represents in-process technology ) , $ 90.2 million of goodwill and $ 19.6 million of net liabilities consisting primarily of deferred tax liabilities .cadence will also make payments to certain employees , subject to continued employment and other performance-based conditions , through the fourth quarter of fiscal 2020 .during fiscal 2016 , cadence completed two business combinations for total cash consideration of $ 42.4 million , after taking into account cash acquired of $ 1.8 million .the total purchase consideration was allocated to the assets acquired and liabilities assumed based on their respective estimated fair values on the acquisition dates .cadence recorded a total of $ 23.6 million of goodwill , $ 23.2 million of acquired intangible assets and $ 2.6 million of net liabilities consisting primarily of deferred revenue .cadence will also make payments to certain employees , subject to continued employment and other conditions , through the second quarter of fiscal a trust for the benefit of the children of lip-bu tan , cadence 2019s chief executive officer ( 201cceo 201d ) and director , owned less than 3% ( 3 % ) of nusemi inc , one of the companies acquired in 2017 , and less than 2% ( 2 % ) of rocketick technologies ltd. , one of the companies acquired in 2016 .mr .tan and his wife serve as co-trustees of the trust and disclaim pecuniary and economic interest in the trust .the board of directors of cadence reviewed the transactions and concluded that it was in the best interests of cadence to proceed with the transactions .mr .tan recused himself from the board of directors 2019 discussion of the valuation of nusemi inc and rocketick technologies ltd .and on whether to proceed with the transactions .acquisition-related transaction costs there were no direct transaction costs associated with acquisitions during fiscal 2018 .transaction costs associated with acquisitions were $ 0.6 million and $ 1.1 million during fiscal 2017 and 2016 , respectively .these costs consist of professional fees and administrative costs and were expensed as incurred in cadence 2019s consolidated income statements .note 9 .goodwill and acquired intangibles goodwill the changes in the carrying amount of goodwill during fiscal 2018 and 2017 were as follows : gross carrying amount ( in thousands ) .
[['', 'gross carryingamount ( in thousands )'], ['balance as of december 31 2016', '$ 572764'], ['goodwill resulting from acquisitions', '90218'], ['effect of foreign currency translation', '3027'], ['balance as of december 30 2017', '666009'], ['effect of foreign currency translation', '-3737 ( 3737 )'], ['balance as of december 29 2018', '$ 662272']]
cadence completed its annual goodwill impairment test during the third quarter of fiscal 2018 and determined that the fair value of cadence 2019s single reporting unit substantially exceeded the carrying amount of its net assets and that no impairment existed. .
|
what is the percentage increase in the balance of goodwill from 2017 to 2018?
|
-0.6%
|
{
"answer": "-0.6%",
"decimal": -0.006,
"type": "percentage"
}
| |
securities have historically returned approximately 10% ( 10 % ) annually over long periods of time , while u.s .debt securities have returned approximately 6% ( 6 % ) annually over long periods .application of these historical returns to the plan 2019s allocation ranges for equities and bonds produces a result between 7.25% ( 7.25 % ) and 8.75% ( 8.75 % ) and is one point of reference , among many other factors , that is taken into consideration .we also examine the plan 2019s actual historical returns over various periods and consider the current economic environment .recent experience is considered in our evaluation with appropriate consideration that , especially for short time periods , recent returns are not reliable indicators of future returns .while annual returns can vary significantly ( actual returns for 2012 , 2011 , and 2010 were +15.29% ( +15.29 % ) , +.11% ( +.11 % ) , and +14.87% ( +14.87 % ) , respectively ) , the selected assumption represents our estimated long-term average prospective returns .acknowledging the potentially wide range for this assumption , we also annually examine the assumption used by other companies with similar pension investment strategies , so that we can ascertain whether our determinations markedly differ from others .in all cases , however , this data simply informs our process , which places the greatest emphasis on our qualitative judgment of future investment returns , given the conditions existing at each annual measurement date .taking into consideration all of these factors , the expected long-term return on plan assets for determining net periodic pension cost for 2012 was 7.75% ( 7.75 % ) , the same as it was for 2011 .after considering the views of both internal and external capital market advisors , particularly with regard to the effects of the recent economic environment on long-term prospective fixed income returns , we are reducing our expected long-term return on assets to 7.50% ( 7.50 % ) for determining pension cost for under current accounting rules , the difference between expected long-term returns and actual returns is accumulated and amortized to pension expense over future periods .each one percentage point difference in actual return compared with our expected return causes expense in subsequent years to increase or decrease by up to $ 8 million as the impact is amortized into results of operations .we currently estimate a pretax pension expense of $ 73 million in 2013 compared with pretax expense of $ 89 million in 2012 .this year-over-year expected decrease reflects the impact of favorable returns on plan assets experienced in 2012 as well as the effects of the lower discount rate required to be used in the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2013 estimated expense as a baseline .table 27 : pension expense - sensitivity analysis change in assumption ( a ) estimated increase to 2013 pension expense ( in millions ) .
[['change in assumption ( a )', 'estimatedincrease to 2013pensionexpense ( in millions )'], ['.5% ( .5 % ) decrease in discount rate', '$ 21'], ['.5% ( .5 % ) decrease in expected long-term return on assets', '$ 19'], ['.5% ( .5 % ) increase in compensation rate', '$ 2']]
( a ) the impact is the effect of changing the specified assumption while holding all other assumptions constant .our pension plan contribution requirements are not particularly sensitive to actuarial assumptions .investment performance has the most impact on contribution requirements and will drive the amount of required contributions in future years .also , current law , including the provisions of the pension protection act of 2006 , sets limits as to both minimum and maximum contributions to the plan .we do not expect to be required by law to make any contributions to the plan during 2013 .we maintain other defined benefit plans that have a less significant effect on financial results , including various nonqualified supplemental retirement plans for certain employees , which are described more fully in note 15 employee benefit plans in the notes to consolidated financial statements in item 8 of this report .the pnc financial services group , inc .2013 form 10-k 77 .
|
what is average estimated pretax pension expense for 2013 and 2012?
|
81
|
{
"answer": "81",
"decimal": 81,
"type": "float"
}
| |
management 2019s discussion and analysis of financial condition and results of operations ( continued ) the following table presents average u.s .and non-u.s .short-duration advances for the years ended december 31 : years ended december 31 .
[['( in millions )', '2013', '2012', '2011'], ['average u.s . short-duration advances', '$ 2356', '$ 1972', '$ 1994'], ['average non-u.s . short-duration advances', '1393', '1393', '1585'], ['average total short-duration advances', '$ 3749', '$ 3365', '$ 3579']]
although average short-duration advances for the year ended december 31 , 2013 increased compared to the year ended december 31 , 2012 , such average advances remained low relative to historical levels , mainly the result of clients continuing to hold higher levels of liquidity .average other interest-earning assets increased to $ 11.16 billion for the year ended december 31 , 2013 from $ 7.38 billion for the year ended december 31 , 2012 .the increased levels were primarily the result of higher levels of cash collateral provided in connection with our participation in principal securities finance transactions .aggregate average interest-bearing deposits increased to $ 109.25 billion for the year ended december 31 , 2013 from $ 98.39 billion for the year ended december 31 , 2012 .this increase was mainly due to higher levels of non-u.s .transaction accounts associated with the growth of new and existing business in assets under custody and administration .future transaction account levels will be influenced by the underlying asset servicing business , as well as market conditions , including the general levels of u.s .and non-u.s .interest rates .average other short-term borrowings declined to $ 3.79 billion for the year ended december 31 , 2013 from $ 4.68 billion for the year ended december 31 , 2012 , as higher levels of client deposits provided additional liquidity .average long-term debt increased to $ 8.42 billion for the year ended december 31 , 2013 from $ 7.01 billion for the year ended december 31 , 2012 .the increase primarily reflected the issuance of $ 1.0 billion of extendible notes by state street bank in december 2012 , the issuance of $ 1.5 billion of senior and subordinated debt in may 2013 , and the issuance of $ 1.0 billion of senior debt in november 2013 .this increase was partly offset by maturities of $ 1.75 billion of senior debt in the second quarter of 2012 .average other interest-bearing liabilities increased to $ 6.46 billion for the year ended december 31 , 2013 from $ 5.90 billion for the year ended december 31 , 2012 , primarily the result of higher levels of cash collateral received from clients in connection with our participation in principal securities finance transactions .several factors could affect future levels of our net interest revenue and margin , including the mix of client liabilities ; actions of various central banks ; changes in u.s .and non-u.s .interest rates ; changes in the various yield curves around the world ; revised or proposed regulatory capital or liquidity standards , or interpretations of those standards ; the amount of discount accretion generated by the former conduit securities that remain in our investment securities portfolio ; and the yields earned on securities purchased compared to the yields earned on securities sold or matured .based on market conditions and other factors , we continue to reinvest the majority of the proceeds from pay- downs and maturities of investment securities in highly-rated securities , such as u.s .treasury and agency securities , federal agency mortgage-backed securities and u.s .and non-u.s .mortgage- and asset-backed securities .the pace at which we continue to reinvest and the types of investment securities purchased will depend on the impact of market conditions and other factors over time .we expect these factors and the levels of global interest rates to dictate what effect our reinvestment program will have on future levels of our net interest revenue and net interest margin. .
|
what is the growth rate of the average total short-duration advances from 2011 to 2012?
|
-6.0%
|
{
"answer": "-6.0%",
"decimal": -0.06,
"type": "percentage"
}
| |
liquidity and capital resources we currently expect to fund all of our cash requirements which are reasonably foreseeable for 2018 , including scheduled debt repayments , new investments in the business , share repurchases , dividend payments , possible business acquisitions and pension contributions , with cash from operating activities , and as needed , additional short-term and/or long-term borrowings .we continue to expect our operating cash flow to remain strong .as of december 31 , 2017 , we had $ 211 million of cash and cash equivalents on hand , of which $ 151 million was held outside of the as of december 31 , 2016 , we had $ 327 million of cash and cash equivalents on hand , of which $ 184 million was held outside of the u.s .as of december 31 , 2015 , we had $ 26 million of deferred tax liabilities for pre-acquisition foreign earnings associated with the legacy nalco entities and legacy champion entities that we intended to repatriate .these liabilities were recorded as part of the respective purchase price accounting of each transaction .the remaining foreign earnings were repatriated in 2016 , reducing the deferred tax liabilities to zero at december 31 , 2016 .as of december 31 , 2017 we had a $ 2.0 billion multi-year credit facility , which expires in november 2022 .the credit facility has been established with a diverse syndicate of banks .there were no borrowings under our credit facility as of december 31 , 2017 or 2016 .the credit facility supports our $ 2.0 billion u.s .commercial paper program and $ 2.0 billion european commercial paper program .combined borrowing under these two commercial paper programs may not exceed $ 2.0 billion .at year-end , we had no amount outstanding under the european commercial paper program and no amount outstanding under the u.s .commercial paper program .additionally , we have uncommitted credit lines of $ 660 million with major international banks and financial institutions to support our general global funding needs .most of these lines are used to support global cash pooling structures .approximately $ 643 million of these credit lines were available for use as of year-end 2017 .bank supported letters of credit , surety bonds and guarantees total $ 198 million and represent commercial business transactions .we do not have any other significant unconditional purchase obligations or commercial commitments .as of december 31 , 2017 , our short-term borrowing program was rated a-2 by standard & poor 2019s and p-2 by moody 2019s .as of december 31 , 2017 , standard & poor 2019s and moody 2019s rated our long-term credit at a- ( stable outlook ) and baa1 ( stable outlook ) , respectively .a reduction in our credit ratings could limit or preclude our ability to issue commercial paper under our current programs , or could also adversely affect our ability to renew existing , or negotiate new , credit facilities in the future and could increase the cost of these facilities .should this occur , we could seek additional sources of funding , including issuing additional term notes or bonds .in addition , we have the ability , at our option , to draw upon our $ 2.0 billion of committed credit facility .we are in compliance with our debt covenants and other requirements of our credit agreements and indentures .a schedule of our various obligations as of december 31 , 2017 are summarized in the following table: .
[['( millions )', 'total', 'payments due by period less than 1 year', 'payments due by period 2-3 years', 'payments due by period 4-5 years', 'payments due by period more than 5 years'], ['notes payable', '$ 15', '$ 15', '$ -', '$ -', '$ -'], ['one-time transition tax', '160', '13', '26', '26', '95'], ['long-term debt', '7303', '549', '696', '1513', '4545'], ['capital lease obligations', '5', '1', '1', '1', '2'], ['operating leases', '617', '131', '211', '160', '115'], ['interest*', '2753', '242', '436', '375', '1700'], ['total', '$ 10853', '$ 951', '$ 1370', '$ 2075', '$ 6457']]
* interest on variable rate debt was calculated using the interest rate at year-end 2017 .during the fourth quarter of 2017 , we recorded a one-time transition tax related to enactment of the tax act .the expense is primarily related to the one-time transition tax , which is payable over eight years .as discussed further in note 12 , this balance is a provisional amount and is subject to adjustment during the measurement period of up to one year following the enactment of the tax act , as provided by recent sec guidance .as of december 31 , 2017 , our gross liability for uncertain tax positions was $ 68 million .we are not able to reasonably estimate the amount by which the liability will increase or decrease over an extended period of time or whether a cash settlement of the liability will be required .therefore , these amounts have been excluded from the schedule of contractual obligations. .
|
what is the growth rate in the balance of cash and cash equivalents on hand from 2016 to 2017?
|
-35.5%
|
{
"answer": "-35.5%",
"decimal": -0.355,
"type": "percentage"
}
| |
as of december 31 , 2012 and 2011 , the estimated value of the company's uncertain tax positions were liabilities of $ 19 million and $ 6 million , respectively .assuming sustainment of these positions , the reversal of $ 1 million of the amounts accrued would favorably affect the company's effective federal income tax rate in future periods .accrued interest and penalties with respect to unrecognized tax benefits were $ 2 million and $ 3 million as of december 31 , 2012 and 2011 , respectively .during 2011 , the company recorded a reduction of $ 10 million to its liability for uncertain tax positions relating to tax periods prior to the spin-off for which northrop grumman is the primary obligor .during 2010 , northrop grumman reached final settlement with the irs and the u .s .congressional joint committee on taxation on the irs examination of northrop grumman's tax returns for the years 2004 through 2006 .as a result of this settlement , the company recognized tax benefits of $ 8 million as a reduction to the provision for income taxes .in connection with the settlement , the company also recorded a reduction of $ 10 million to its liability for uncertain tax positions , including previously accrued interest , of $ 2 million .the following table summarizes the tax years that are either currently under examination or remain open under the statute of limitations and subject to examination by the major tax jurisdictions in which the company operates: .
[['jurisdiction united states', 'jurisdiction 2007', 'jurisdiction -', '2012'], ['california', '2007', '-', '2012'], ['louisiana', '2007', '-', '2012'], ['mississippi', '2009', '-', '2012'], ['virginia', '2006', '-', '2012']]
although the company believes it has adequately provided for all uncertain tax positions , amounts asserted by taxing authorities could be greater than the company's accrued position .accordingly , additional provisions on federal and state income tax related matters could be recorded in the future as revised estimates are made or the underlying matters are effectively settled or otherwise resolved .conversely , the company could settle positions with the tax authorities for amounts lower than have been accrued .the company believes it is reasonably possible that during the next 12 months the company's liability for uncertain tax positions may decrease by approximately $ 14 million .the company recognizes accrued interest and penalties related to uncertain tax positions in income tax expense .the irs is currently conducting an examination of northrop grumman's consolidated tax returns , of which hii was part , for the years 2007 through 2009 .open tax years related to state jurisdictions remain subject to examination .as of march 31 , 2011 , the date of the spin-off , the company's liability for uncertain tax positions was approximately $ 4 million , net of federal benefit , which related solely to state income tax positions .under the terms of the separation agreement , northrop grumman is obligated to reimburse hii for any settlement liabilities paid by hii to any government authority for tax periods prior to the spin-off , which include state income taxes .accordingly , the company has recorded a reimbursement receivable of approximately $ 4 million , net of federal benefit , in other assets related to uncertain tax positions for state income taxes as of the date of the spin-off .deferred income taxes - deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and income tax purposes .such amounts are classified in the consolidated statements of financial position as current or non-current assets or liabilities based upon the classification of the related assets and liabilities. .
|
how many years of tax examination is the company subject to in virginia?
|
6
|
{
"answer": "6",
"decimal": 6,
"type": "float"
}
| |
on november 18 , 2014 , the company entered into a collateralized reinsurance agreement with kilimanjaro to provide the company with catastrophe reinsurance coverage .this agreement is a multi-year reinsurance contract which covers specified earthquake events .the agreement provides up to $ 500000 thousand of reinsurance coverage from earthquakes in the united states , puerto rico and canada .on december 1 , 2015 the company entered into two collateralized reinsurance agreements with kilimanjaro re to provide the company with catastrophe reinsurance coverage .these agreements are multi-year reinsurance contracts which cover named storm and earthquake events .the first agreement provides up to $ 300000 thousand of reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .the second agreement provides up to $ 325000 thousand of reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .on april 13 , 2017 the company entered into six collateralized reinsurance agreements with kilimanjaro to provide the company with annual aggregate catastrophe reinsurance coverage .the initial three agreements are four year reinsurance contracts which cover named storm and earthquake events .these agreements provide up to $ 225000 thousand , $ 400000 thousand and $ 325000 thousand , respectively , of annual aggregate reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .the subsequent three agreements are five year reinsurance contracts which cover named storm and earthquake events .these agreements provide up to $ 50000 thousand , $ 75000 thousand and $ 175000 thousand , respectively , of annual aggregate reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .recoveries under these collateralized reinsurance agreements with kilimanjaro are primarily dependent on estimated industry level insured losses from covered events , as well as , the geographic location of the events .the estimated industry level of insured losses is obtained from published estimates by an independent recognized authority on insured property losses .as of december 31 , 2017 , none of the published insured loss estimates for the 2017 catastrophe events have exceeded the single event retentions under the terms of the agreements that would result in a recovery .in addition , the aggregation of the to-date published insured loss estimates for the 2017 covered events have not exceeded the aggregated retentions for recovery .however , if the published estimates for insured losses for the covered 2017 events increase , the aggregate losses may exceed the aggregate event retentions under the agreements , resulting in a recovery .kilimanjaro has financed the various property catastrophe reinsurance coverages by issuing catastrophe bonds to unrelated , external investors .on april 24 , 2014 , kilimanjaro issued $ 450000 thousand of notes ( 201cseries 2014-1 notes 201d ) .on november 18 , 2014 , kilimanjaro issued $ 500000 thousand of notes ( 201cseries 2014-2 notes 201d ) .on december 1 , 2015 , kilimanjaro issued $ 625000 thousand of notes ( 201cseries 2015-1 notes ) .on april 13 , 2017 , kilimanjaro issued $ 950000 thousand of notes ( 201cseries 2017-1 notes ) and $ 300000 thousand of notes ( 201cseries 2017-2 notes ) .the proceeds from the issuance of the notes listed above are held in reinsurance trust throughout the duration of the applicable reinsurance agreements and invested solely in us government money market funds with a rating of at least 201caaam 201d by standard & poor 2019s .9 .operating lease agreements the future minimum rental commitments , exclusive of cost escalation clauses , at december 31 , 2017 , for all of the company 2019s operating leases with remaining non-cancelable terms in excess of one year are as follows : ( dollars in thousands ) .
[['2018', '$ 16990'], ['2019', '17964'], ['2020', '17115'], ['2021', '8035'], ['2022', '7669'], ['thereafter', '24668'], ['net commitments', '$ 92440'], ['( some amounts may not reconcile due to rounding. )', '']]
.
|
what portion of the minimum future commitments is due in the next 12 months?
|
18.4%
|
{
"answer": "18.4%",
"decimal": 0.184,
"type": "percentage"
}
| |
table of contents celanese purchases of its equity securities information regarding repurchases of our common stock during the three months ended december 31 , 2017 is as follows : period number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced program approximate dollar value of shares remaining that may be purchased under the program ( 2 ) .
[['period', 'totalnumberof sharespurchased ( 1 )', 'averageprice paidper share', 'total numberof sharespurchased aspart of publiclyannounced program', 'approximatedollarvalue of sharesremaining thatmay bepurchased underthe program ( 2 )'], ['october 1 - 31 2017', '10676', '$ 104.10', '2014', '$ 1531000000'], ['november 1 - 30 2017', '924', '$ 104.02', '2014', '$ 1531000000'], ['december 1 - 31 2017', '38605', '$ 106.36', '2014', '$ 1531000000'], ['total', '50205', '', '2014', '']]
___________________________ ( 1 ) represents shares withheld from employees to cover their statutory minimum withholding requirements for personal income taxes related to the vesting of restricted stock units .( 2 ) our board of directors has authorized the aggregate repurchase of $ 3.9 billion of our common stock since february 2008 , including an increase of $ 1.5 billion on july 17 , 2017 .see note 17 - stockholders' equity in the accompanying consolidated financial statements for further information. .
|
what is the total value of purchased shares during november 2017?
|
96114.5
|
{
"answer": "96114.5",
"decimal": 96114.5,
"type": "float"
}
| |
( $ 125 million ) and higher maintenance outage costs ( $ 18 million ) .additionally , operating profits in 2012 include costs of $ 184 million associated with the acquisition and integration of temple-inland , mill divestiture costs of $ 91 million , costs associated with the restructuring of our european packaging busi- ness of $ 17 million and a $ 3 million gain for other items , while operating costs in 2011 included costs associated with signing an agreement to acquire temple-inland of $ 20 million and a gain of $ 7 million for other items .industrial packaging .
[['in millions', '2012', '2011', '2010'], ['sales', '$ 13280', '$ 10430', '$ 9840'], ['operating profit', '1066', '1147', '826']]
north american industr ia l packaging net sales were $ 11.6 billion in 2012 compared with $ 8.6 billion in 2011 and $ 8.4 billion in 2010 .operating profits in 2012 were $ 1.0 billion ( $ 1.3 billion exclud- ing costs associated with the acquisition and integration of temple-inland and mill divestiture costs ) compared with $ 1.1 billion ( both including and excluding costs associated with signing an agree- ment to acquire temple-inland ) in 2011 and $ 763 million ( $ 776 million excluding facility closure costs ) in 2010 .sales volumes for the legacy business were about flat in 2012 compared with 2011 .average sales price was lower mainly due to export containerboard sales prices which bottomed out in the first quarter but climbed steadily the rest of the year .input costs were lower for recycled fiber , wood and natural gas , but higher for starch .freight costs also increased .plan- ned maintenance downtime costs were higher than in 2011 .operating costs were higher largely due to routine inventory valuation adjustments operating profits in 2012 benefited from $ 235 million of temple-inland synergies .market-related downtime in 2012 was about 570000 tons compared with about 380000 tons in 2011 .operating profits in 2012 included $ 184 million of costs associated with the acquisition and integration of temple-inland and $ 91 million of costs associated with the divestiture of three containerboard mills .operating profits in 2011 included charges of $ 20 million for costs associated with the signing of the agreement to acquire temple- inland .looking ahead to 2013 , sales volumes in the first quarter compared with the fourth quarter of 2012 are expected to increase slightly for boxes due to a higher number of shipping days .average sales price realizations are expected to reflect the pass-through to box customers of a containerboard price increase implemented in 2012 .input costs are expected to be higher for recycled fiber , wood and starch .planned maintenance downtime costs are expected to be about $ 26 million higher with outages scheduled at eight mills compared with six mills in the 2012 fourth quarter .manufacturing operating costs are expected to be lower .european industr ia l packaging net sales were $ 1.0 billion in 2012 compared with $ 1.1 billion in 2011 and $ 990 million in 2010 .operating profits in 2012 were $ 53 million ( $ 72 million excluding restructuring costs ) compared with $ 66 million ( $ 61 million excluding a gain for a bargain purchase price adjustment on an acquisition by our joint venture in turkey and costs associated with the closure of our etienne mill in france in 2009 ) in 2011 and $ 70 mil- lion ( $ 73 million before closure costs for our etienne mill ) in 2010 .sales volumes in 2012 were lower than in 2011 reflecting decreased demand for packaging in the industrial market due to a weaker overall economic environment in southern europe .demand for pack- aging in the agricultural markets was about flat year- over-year .average sales margins increased due to sales price increases implemented during 2011 and 2012 and lower board costs .other input costs were higher , primarily for energy and distribution .operat- ing profits in 2012 included a net gain of $ 10 million for an insurance settlement , partially offset by addi- tional operating costs , related to the earthquakes in northern italy in may which affected our san felice box plant .entering the first quarter of 2013 , sales volumes are expected to be stable reflecting a seasonal decrease in market demand in agricultural markets offset by an increase in industrial markets .average sales margins are expected to improve due to lower input costs for containerboard .other input costs should be about flat .operating costs are expected to be higher reflecting the absence of the earthquake insurance settlement that was received in the 2012 fourth quar- asian industr ia l packaging net sales and operating profits include the results of sca pack- aging since the acquisition on june 30 , 2010 , includ- ing the impact of incremental integration costs .net sales for the packaging operations were $ 400 million in 2012 compared with $ 410 million in 2011 and $ 255 million in 2010 .operating profits for the packaging operations were $ 2 million in 2012 compared with $ 2 million in 2011 and a loss of $ 7 million ( a loss of $ 4 million excluding facility closure costs ) in 2010 .operating profits were favorably impacted by higher average sales margins in 2012 compared with 2011 , but this benefit was offset by lower sales volumes and higher raw material costs and operating costs .looking ahead to the first quarter of 2013 , sales volumes and average sales margins are expected to decrease due to seasonality .net sales for the distribution operations were $ 260 million in 2012 compared with $ 285 million in 2011 and $ 240 million in 2010 .operating profits were $ 3 million in 2012 compared with $ 3 million in 2011 and about breakeven in 2010. .
|
north american industrial packaging net sales where what percent of industrial packaging sales in 2012?
|
87%
|
{
"answer": "87%",
"decimal": 0.87,
"type": "percentage"
}
| |
table of contents adobe inc .notes to consolidated financial statements ( continued ) goodwill , purchased intangibles and other long-lived assets goodwill is assigned to one or more reporting segments on the date of acquisition .we review our goodwill for impairment annually during our second quarter of each fiscal year and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of any one of our reporting units below its respective carrying amount .in performing our goodwill impairment test , we first perform a qualitative assessment , which requires that we consider events or circumstances including macroeconomic conditions , industry and market considerations , cost factors , overall financial performance , changes in management or key personnel , changes in strategy , changes in customers , changes in the composition or carrying amount of a reporting segment 2019s net assets and changes in our stock price .if , after assessing the totality of events or circumstances , we determine that it is more likely than not that the fair values of our reporting segments are greater than the carrying amounts , then the quantitative goodwill impairment test is not performed .if the qualitative assessment indicates that the quantitative analysis should be performed , we then 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 equal weighting of 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 completed our annual goodwill impairment test in the second quarter of fiscal 2018 .we determined , after performing a qualitative review of each reporting segment , that it is more likely than not that the fair value of each of our reporting segments substantially exceeds the respective carrying amounts .accordingly , there was no indication of impairment and the quantitative goodwill impairment test was not performed .we did not identify any events or changes in circumstances since the performance of our annual goodwill impairment test that would require us to perform another goodwill impairment test during the fiscal year .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 2018 , 2017 or 2016 .during fiscal 2018 , our intangible assets were amortized over their estimated useful lives ranging from 1 to 14 years .amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed or on a straight-line basis when the consumption pattern is not apparent .the weighted average useful lives of our intangible assets were as follows : weighted average useful life ( years ) .
[['', 'weighted averageuseful life ( years )'], ['purchased technology', '6'], ['customer contracts and relationships', '9'], ['trademarks', '9'], ['acquired rights to use technology', '10'], ['backlog', '2'], ['other intangibles', '4']]
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. .
|
what is the average yearly amortization expense related to trademarks?
|
11.1%
|
{
"answer": "11.1%",
"decimal": 0.111,
"type": "percentage"
}
| |
2022 triggering our obligation to make payments under any financial guarantee , letter of credit or other credit support we have provided to or on behalf of such subsidiary ; 2022 causing us to record a loss in the event the lender forecloses on the assets ; and 2022 triggering defaults in our outstanding debt at the parent company .for example , our senior secured credit facility and outstanding debt securities at the parent company include events of default for certain bankruptcy related events involving material subsidiaries .in addition , our revolving credit agreement at the parent company includes events of default related to payment defaults and accelerations of outstanding debt of material subsidiaries .some of our subsidiaries are currently in default with respect to all or a portion of their outstanding indebtedness .the total non-recourse debt classified as current in the accompanying consolidated balance sheets amounts to $ 2.2 billion .the portion of current debt related to such defaults was $ 1 billion at december 31 , 2017 , all of which was non-recourse debt related to three subsidiaries 2014 alto maipo , aes puerto rico , and aes ilumina .see note 10 2014debt in item 8 . 2014financial statements and supplementary data of this form 10-k for additional detail .none of the subsidiaries that are currently in default are subsidiaries that met the applicable definition of materiality under aes' corporate debt agreements as of december 31 , 2017 in order for such defaults to trigger an event of default or permit acceleration under aes' indebtedness .however , as a result of additional dispositions of assets , other significant reductions in asset carrying values or other matters in the future that may impact our financial position and results of operations or the financial position of the individual subsidiary , it is possible that one or more of these subsidiaries could fall within the definition of a "material subsidiary" and thereby upon an acceleration trigger an event of default and possible acceleration of the indebtedness under the parent company's outstanding debt securities .a material subsidiary is defined in the company's senior secured revolving credit facility as any business that contributed 20% ( 20 % ) or more of the parent company's total cash distributions from businesses for the four most recently completed fiscal quarters .as of december 31 , 2017 , none of the defaults listed above individually or in the aggregate results in or is at risk of triggering a cross-default under the recourse debt of the company .contractual obligations and parent company contingent contractual obligations a summary of our contractual obligations , commitments and other liabilities as of december 31 , 2017 is presented below and excludes any businesses classified as discontinued operations or held-for-sale ( in millions ) : contractual obligations total less than 1 year more than 5 years other footnote reference ( 4 ) debt obligations ( 1 ) $ 20404 $ 2250 $ 2431 $ 5003 $ 10720 $ 2014 10 interest payments on long-term debt ( 2 ) 9103 1172 2166 1719 4046 2014 n/a .
[['contractual obligations', 'total', 'less than 1 year', '1-3 years', '3-5 years', 'more than 5 years', 'other', 'footnote reference ( 4 )'], ['debt obligations ( 1 )', '$ 20404', '$ 2250', '$ 2431', '$ 5003', '$ 10720', '$ 2014', '10'], ['interest payments on long-term debt ( 2 )', '9103', '1172', '2166', '1719', '4046', '2014', 'n/a'], ['capital lease obligations', '18', '2', '2', '2', '12', '2014', '11'], ['operating lease obligations', '935', '58', '116', '117', '644', '2014', '11'], ['electricity obligations', '4501', '581', '948', '907', '2065', '2014', '11'], ['fuel obligations', '5859', '1759', '1642', '992', '1466', '2014', '11'], ['other purchase obligations', '4984', '1488', '1401', '781', '1314', '2014', '11'], ["other long-term liabilities reflected on aes' consolidated balance sheet under gaap ( 3 )", '701', '2014', '284', '118', '277', '22', 'n/a'], ['total', '$ 46505', '$ 7310', '$ 8990', '$ 9639', '$ 20544', '$ 22', '']]
_____________________________ ( 1 ) includes recourse and non-recourse debt presented on the consolidated balance sheet .these amounts exclude capital lease obligations which are included in the capital lease category .( 2 ) interest payments are estimated based on final maturity dates of debt securities outstanding at december 31 , 2017 and do not reflect anticipated future refinancing , early redemptions or new debt issuances .variable rate interest obligations are estimated based on rates as of december 31 , 2017 .( 3 ) these amounts do not include current liabilities on the consolidated balance sheet except for the current portion of uncertain tax obligations .noncurrent uncertain tax obligations are reflected in the "other" column of the table above as the company is not able to reasonably estimate the timing of the future payments .in addition , these amounts do not include : ( 1 ) regulatory liabilities ( see note 9 2014regulatory assets and liabilities ) , ( 2 ) contingencies ( see note 12 2014contingencies ) , ( 3 ) pension and other postretirement employee benefit liabilities ( see note 13 2014benefit plans ) , ( 4 ) derivatives and incentive compensation ( see note 5 2014derivative instruments and hedging activities ) or ( 5 ) any taxes ( see note 20 2014income taxes ) except for uncertain tax obligations , as the company is not able to reasonably estimate the timing of future payments .see the indicated notes to the consolidated financial statements included in item 8 of this form 10-k for additional information on the items excluded .( 4 ) for further information see the note referenced below in item 8 . 2014financial statements and supplementary data of this form 10-k. .
|
what percentage of total contractual obligations , commitments and other liabilities as of december 31 , 2017 is composed of debt obligations?
|
44%
|
{
"answer": "44%",
"decimal": 0.44,
"type": "percentage"
}
| |
operating expenses millions 2012 2011 2010 % ( % ) change 2012 v 2011 % ( % ) change 2011 v 2010 .
[['millions', '2012', '2011', '2010', '% ( % ) change 2012 v 2011', '% ( % ) change 2011 v 2010'], ['compensation and benefits', '$ 4685', '$ 4681', '$ 4314', '-% ( - % )', '9% ( 9 % )'], ['fuel', '3608', '3581', '2486', '1', '44'], ['purchased services and materials', '2143', '2005', '1836', '7', '9'], ['depreciation', '1760', '1617', '1487', '9', '9'], ['equipment and other rents', '1197', '1167', '1142', '3', '2'], ['other', '788', '782', '719', '1', '9'], ['total', '$ 14181', '$ 13833', '$ 11984', '3% ( 3 % )', '15% ( 15 % )']]
operating expenses increased $ 348 million in 2012 versus 2011 .depreciation , wage and benefit inflation , higher fuel prices and volume- related trucking services purchased by our logistics subsidiaries , contributed to higher expenses during the year .efficiency gains , volume related fuel savings ( 2% ( 2 % ) fewer gallons of fuel consumed ) and $ 38 million of weather related expenses in 2011 , which favorably affects the comparison , partially offset the cost increase .operating expenses increased $ 1.8 billion in 2011 versus 2010 .our fuel price per gallon rose 36% ( 36 % ) during 2011 , accounting for $ 922 million of the increase .wage and benefit inflation , volume-related costs , depreciation , and property taxes also contributed to higher expenses .expenses increased $ 20 million for costs related to the flooding in the midwest and $ 18 million due to the impact of severe heat and drought in the south , primarily texas .cost savings from productivity improvements and better resource utilization partially offset these increases .a $ 45 million one-time payment relating to a transaction with csx intermodal , inc ( csxi ) increased operating expenses during the first quarter of 2010 , which favorably affects the comparison of operating expenses in 2011 to those in 2010 .compensation and benefits 2013 compensation and benefits include wages , payroll taxes , health and welfare costs , pension costs , other postretirement benefits , and incentive costs .expenses in 2012 were essentially flat versus 2011 as operational improvements and cost reductions offset general wage and benefit inflation and higher pension and other postretirement benefits .in addition , weather related costs increased these expenses in 2011 .a combination of general wage and benefit inflation , volume-related expenses , higher training costs associated with new hires , additional crew costs due to speed restrictions caused by the midwest flooding and heat and drought in the south , and higher pension expense drove the increase during 2011 compared to 2010 .fuel 2013 fuel includes locomotive fuel and gasoline for highway and non-highway vehicles and heavy equipment .higher locomotive diesel fuel prices , which averaged $ 3.22 per gallon ( including taxes and transportation costs ) in 2012 , compared to $ 3.12 in 2011 , increased expenses by $ 105 million .volume , as measured by gross ton-miles , decreased 2% ( 2 % ) in 2012 versus 2011 , driving expense down .the fuel consumption rate was flat year-over-year .higher locomotive diesel fuel prices , which averaged $ 3.12 ( including taxes and transportation costs ) in 2011 , compared to $ 2.29 per gallon in 2010 , increased expenses by $ 922 million .in addition , higher gasoline prices for highway and non-highway vehicles also increased year-over-year .volume , as measured by gross ton-miles , increased 5% ( 5 % ) in 2011 versus 2010 , driving expense up by $ 122 million .purchased services and materials 2013 expense for purchased services and materials includes the costs of services purchased from outside contractors and other service providers ( including equipment 2012 operating expenses .
|
based on the calculated increase in locomotive diesel fuel price in 2012 , what is the estimated total fuel cost for 2012?
|
1050000000
|
{
"answer": "1050000000",
"decimal": 1050000000,
"type": "float"
}
| |
contractual obligations the following table summarizes our significant contractual obligations as of december 28 , 2013: .
[['( in millions )', 'payments due by period total', 'payments due by period less than1 year', 'payments due by period 1 20133 years', 'payments due by period 3 20135 years', 'payments due by period more than5 years'], ['operating lease obligations', '$ 870', '$ 208', '$ 298', '$ 166', '$ 198'], ['capital purchase obligations1', '5503', '5375', '125', '2014', '3'], ['other purchase obligations and commitments2', '1859', '772', '744', '307', '36'], ['long-term debt obligations3', '22372', '429', '2360', '3761', '15822'], ['other long-term liabilities4 5', '1496', '569', '663', '144', '120'], ['total6', '$ 32100', '$ 7353', '$ 4190', '$ 4378', '$ 16179']]
capital purchase obligations1 5503 5375 125 2014 3 other purchase obligations and commitments2 1859 772 744 307 36 long-term debt obligations3 22372 429 2360 3761 15822 other long-term liabilities4 , 5 1496 569 663 144 120 total6 $ 32100 $ 7353 $ 4190 $ 4378 $ 16179 1 capital purchase obligations represent commitments for the construction or purchase of property , plant and equipment .they were not recorded as liabilities on our consolidated balance sheets as of december 28 , 2013 , as we had not yet received the related goods or taken title to the property .2 other purchase obligations and commitments include payments due under various types of licenses and agreements to purchase goods or services , as well as payments due under non-contingent funding obligations .funding obligations include agreements to fund various projects with other companies .3 amounts represent principal and interest cash payments over the life of the debt obligations , including anticipated interest payments that are not recorded on our consolidated balance sheets .any future settlement of convertible debt would impact our cash payments .4 we are unable to reliably estimate the timing of future payments related to uncertain tax positions ; therefore , $ 188 million of long-term income taxes payable has been excluded from the preceding table .however , long- term income taxes payable , recorded on our consolidated balance sheets , included these uncertain tax positions , reduced by the associated federal deduction for state taxes and u.s .tax credits arising from non- u.s .income taxes .5 amounts represent future cash payments to satisfy other long-term liabilities recorded on our consolidated balance sheets , including the short-term portion of these long-term liabilities .expected required contributions to our u.s .and non-u.s .pension plans and other postretirement benefit plans of $ 62 million to be made during 2014 are also included ; however , funding projections beyond 2014 are not practicable to estimate .6 total excludes contractual obligations already recorded on our consolidated balance sheets as current liabilities except for the short-term portions of long-term debt obligations and other long-term liabilities .contractual obligations for purchases of goods or services , included in other purchase obligations and commitments in the preceding table , include agreements that are enforceable and legally binding on intel and that specify all significant terms , including fixed or minimum quantities to be purchased ; fixed , minimum , or variable price provisions ; and the approximate timing of the transaction .for obligations with cancellation provisions , the amounts included in the preceding table were limited to the non-cancelable portion of the agreement terms or the minimum cancellation fee .we have entered into certain agreements for the purchase of raw materials that specify minimum prices and quantities based on a percentage of the total available market or based on a percentage of our future purchasing requirements .due to the uncertainty of the future market and our future purchasing requirements , as well as the non-binding nature of these agreements , obligations under these agreements are not included in the preceding table .our purchase orders for other products are based on our current manufacturing needs and are fulfilled by our vendors within short time horizons .in addition , some of our purchase orders represent authorizations to purchase rather than binding agreements .table of contents management 2019s discussion and analysis of financial condition and results of operations ( continued ) .
|
what percentage of total contractual obligations as of december 28 , 2013 is made up of long-term debt obligations?
|
70%
|
{
"answer": "70%",
"decimal": 0.7,
"type": "percentage"
}
| |
item 11 2014executive compensation we incorporate by reference in this item 11 the information relating to executive and director compensation contained under the headings 201cother information about the board and its committees , 201d 201ccompensation and other benefits 201d and 201creport of the compensation committee 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007 .item 12 2014security ownership of certain beneficial owners andmanagement and related stockholdermatters we incorporate by reference in this item 12 the information relating to ownership of our common stock by certain persons contained under the headings 201ccommon stock ownership of management 201d and 201ccommon stock ownership by certain other persons 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007 .we have four compensation plans under which our equity securities are authorized for issuance .the global payments inc .amended and restated 2000 long-term incentive plan , global payments inc .amended and restated 2005 incentive plan , the non-employee director stock option plan , and employee stock purchase plan have been approved by security holders .the information in the table below is as of may 31 , 2007 .for more information on these plans , see note 8 to notes to consolidated financial statements .plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted- average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders: .....................5171000 $ 25 7779000 ( 1 ) equity compensation plans not approved by security holders: .....................2014 2014 2014 total ................................5171000 $ 25 7779000 ( 1 ) ( 1 ) also includes shares of common stock available for issuance other than upon the exercise of an option , warrant or right under the amended and restated 2000 non-employee director stock option plan , the amended and restated 2005 incentive plan and the amended and restated 2000 employee stock purchase item 13 2014certain relationships and related transactions , and director independence we incorporate by reference in this item 13 the information regarding certain relationships and related transactions between us and some of our affiliates and the independence of our board of directors contained under the headings 201ccertain relationships and related transactions 201d and 201cother information about the board and its committees 2014director independence 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007 .item 14 2014principal accounting fees and services we incorporate by reference in this item 14 the information regarding principal accounting fees and services contained under the heading 201cauditor information 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007. .
[['plan category', 'number of 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 futureissuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )', ''], ['equity compensation plans approved by security holders:', '5171000', '$ 25', '7779000', '-1 ( 1 )'], ['equity compensation plans not approved by security holders:', '2014', '2014', '2014', ''], ['total', '5171000', '$ 25', '7779000', '-1 ( 1 )']]
item 11 2014executive compensation we incorporate by reference in this item 11 the information relating to executive and director compensation contained under the headings 201cother information about the board and its committees , 201d 201ccompensation and other benefits 201d and 201creport of the compensation committee 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007 .item 12 2014security ownership of certain beneficial owners andmanagement and related stockholdermatters we incorporate by reference in this item 12 the information relating to ownership of our common stock by certain persons contained under the headings 201ccommon stock ownership of management 201d and 201ccommon stock ownership by certain other persons 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007 .we have four compensation plans under which our equity securities are authorized for issuance .the global payments inc .amended and restated 2000 long-term incentive plan , global payments inc .amended and restated 2005 incentive plan , the non-employee director stock option plan , and employee stock purchase plan have been approved by security holders .the information in the table below is as of may 31 , 2007 .for more information on these plans , see note 8 to notes to consolidated financial statements .plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted- average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders: .....................5171000 $ 25 7779000 ( 1 ) equity compensation plans not approved by security holders: .....................2014 2014 2014 total ................................5171000 $ 25 7779000 ( 1 ) ( 1 ) also includes shares of common stock available for issuance other than upon the exercise of an option , warrant or right under the amended and restated 2000 non-employee director stock option plan , the amended and restated 2005 incentive plan and the amended and restated 2000 employee stock purchase item 13 2014certain relationships and related transactions , and director independence we incorporate by reference in this item 13 the information regarding certain relationships and related transactions between us and some of our affiliates and the independence of our board of directors contained under the headings 201ccertain relationships and related transactions 201d and 201cother information about the board and its committees 2014director independence 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007 .item 14 2014principal accounting fees and services we incorporate by reference in this item 14 the information regarding principal accounting fees and services contained under the heading 201cauditor information 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007. .
|
what is the total number of approved securities by the security holders?
|
12950000
|
{
"answer": "12950000",
"decimal": 12950000,
"type": "float"
}
| |
table of contents interest expense , net of capitalized interest decreased $ 129 million , or 18.1% ( 18.1 % ) , in 2014 from the 2013 period primarily due to a $ 63 million decrease in special charges recognized period-over-period as further described below , as well as refinancing activities that resulted in $ 65 million less interest expense recognized in 2014 .in 2014 , american recognized $ 29 million of special charges relating to non-cash interest accretion on bankruptcy settlement obligations .in 2013 , american recognized $ 48 million of special charges relating to post-petition interest expense on unsecured obligations pursuant to the plan and penalty interest related to american 2019s 10.5% ( 10.5 % ) secured notes and 7.50% ( 7.50 % ) senior secured notes .in addition , in 2013 american recorded special charges of $ 44 million for debt extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness , including cash interest charges and non-cash write offs of unamortized debt issuance costs .as a result of the 2013 refinancing activities and the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes in 2014 , american recognized $ 65 million less interest expense in 2014 as compared to the 2013 period .other nonoperating expense , net of $ 153 million in 2014 consisted principally of net foreign currency losses of $ 92 million and early debt extinguishment charges of $ 48 million .other nonoperating expense , net of $ 84 million in 2013 consisted principally of net foreign currency losses of $ 55 million and early debt extinguishment charges of $ 29 million .other nonoperating expense , net increased $ 69 million , or 81.0% ( 81.0 % ) , during 2014 primarily due to special charges recognized as a result of early debt extinguishment and an increase in foreign currency losses driven by the strengthening of the u.s .dollar in foreign currency transactions , principally in latin american markets .american recorded a $ 43 million special charge for venezuelan foreign currency losses in 2014 .see part ii , item 7a .quantitative and qualitative disclosures about market risk for further discussion of our cash held in venezuelan bolivars .in addition , american 2019s nonoperating special items included $ 48 million in special charges in the 2014 primarily related to the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes and other indebtedness .reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases .the following table summarizes the components included in reorganization items , net on american 2019s consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : .
[['', '2013'], ['labor-related deemed claim ( 1 )', '$ 1733'], ['aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )', '320'], ['fair value of conversion discount ( 4 )', '218'], ['professional fees', '199'], ['other', '170'], ['total reorganization items net', '$ 2640']]
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees .each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes .the total value of this deemed claim was approximately $ 1.7 billion .( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds .the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify .
|
what percentage of total reorganization items net consisted of aircraft and facility financing renegotiations and rejections?
|
12.1%
|
{
"answer": "12.1%",
"decimal": 0.121,
"type": "percentage"
}
| |
shareholder value award program svas are granted to officers and management and are payable in shares of our common stock .the number of shares actually issued , if any , varies depending on our stock price at the end of the three-year vesting period compared to pre-established target stock prices .we measure the fair value of the sva unit on the grant date using a monte carlo simulation model .the model utilizes multiple input variables that determine the probability of satisfying the market condition stipulated in the award grant and calculates the fair value of the award .expected volatilities utilized in the model are based on implied volatilities from traded options on our stock , historical volatility of our stock price , and other factors .similarly , the dividend yield is based on historical experience and our estimate of future dividend yields .the risk-free interest rate is derived from the u.s .treasury yield curve in effect at the time of grant .the weighted-average fair values of the sva units granted during the years ended december 31 , 2018 , 2017 , and 2016 were $ 48.51 , $ 66.25 , and $ 48.68 , respectively , determined using the following assumptions: .
[['( percents )', '2018', '2017', '2016'], ['expected dividend yield', '2.50% ( 2.50 % )', '2.50% ( 2.50 % )', '2.00% ( 2.00 % )'], ['risk-free interest rate', '2.31', '1.38', '0.92'], ['volatility', '22.26', '22.91', '21.68']]
pursuant to this program , approximately 0.7 million shares , 1.1 million shares , and 1.0 million shares were issued during the years ended december 31 , 2018 , 2017 , and 2016 , respectively .approximately 1.0 million shares are expected to be issued in 2019 .as of december 31 , 2018 , the total remaining unrecognized compensation cost related to nonvested svas was $ 55.7 million , which will be amortized over the weighted-average remaining requisite service period of 20 months .restricted stock units rsus are granted to certain employees and are payable in shares of our common stock .rsu shares are accounted for at fair value based upon the closing stock price on the date of grant .the corresponding expense is amortized over the vesting period , typically three years .the fair values of rsu awards granted during the years ended december 31 , 2018 , 2017 , and 2016 were $ 70.95 , $ 72.47 , and $ 71.46 , respectively .the number of shares ultimately issued for the rsu program remains constant with the exception of forfeitures .pursuant to this program , 1.3 million , 1.4 million , and 1.3 million shares were granted and approximately 1.0 million , 0.9 million , and 0.6 million shares were issued during the years ended december 31 , 2018 , 2017 , and 2016 , respectively .approximately 0.8 million shares are expected to be issued in 2019 .as of december 31 , 2018 , the total remaining unrecognized compensation cost related to nonvested rsus was $ 112.2 million , which will be amortized over the weighted- average remaining requisite service period of 21 months .note 12 : shareholders' equity during 2018 , 2017 , and 2016 , we repurchased $ 4.15 billion , $ 359.8 million and $ 540.1 million , respectively , of shares associated with our share repurchase programs .a payment of $ 60.0 million was made in 2016 for shares repurchased in 2017 .during 2018 , we repurchased $ 2.05 billion of shares , which completed the $ 5.00 billion share repurchase program announced in october 2013 and our board authorized an $ 8.00 billion share repurchase program .there were $ 2.10 billion repurchased under the $ 8.00 billion program in 2018 .as of december 31 , 2018 , there were $ 5.90 billion of shares remaining under the 2018 program .we have 5.0 million authorized shares of preferred stock .as of december 31 , 2018 and 2017 , no preferred stock was issued .we have an employee benefit trust that held 50.0 million shares of our common stock at both december 31 , 2018 and 2017 , to provide a source of funds to assist us in meeting our obligations under various employee benefit plans .the cost basis of the shares held in the trust was $ 3.01 billion at both december 31 , 2018 and 2017 , and is shown as a reduction of shareholders 2019 equity .any dividend transactions between us and the trust are eliminated .stock held by the trust is not considered outstanding in the computation of eps .the assets of the trust were not used to fund any of our obligations under these employee benefit plans during the years ended december 31 , 2018 , 2017 , and .
|
what was the percentage change in dollars spent on share repurchase between 2016 and 2017?
|
-33%
|
{
"answer": "-33%",
"decimal": -0.33,
"type": "percentage"
}
| |
in september 2007 , we reached a settlement with the united states department of justice in an ongoing investigation into financial relationships between major orthopaedic manufacturers and consulting orthopaedic surgeons .under the terms of the settlement , we paid a civil settlement amount of $ 169.5 million and we recorded an expense in that amount .no tax benefit has been recorded related to the settlement expense due to the uncertainty as to the tax treatment .we intend to pursue resolution of this uncertainty with taxing authorities , but are unable to ascertain the outcome or timing for such resolution at this time .for more information regarding the settlement , see note 15 .in june 2006 , the financial accounting standards board ( fasb ) issued interpretation no .48 , accounting for uncertainty in income taxes 2013 an interpretation of fasb statement no .109 , accounting for income taxes ( fin 48 ) .fin 48 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements .under fin 48 , we may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities , based on the technical merits of the position .the tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement .fin 48 also provides guidance on derecognition , classification , interest and penalties on income taxes , accounting in interim periods and requires increased disclosures .we adopted fin 48 on january 1 , 2007 .prior to the adoption of fin 48 we had a long term tax liability for expected settlement of various federal , state and foreign income tax liabilities that was reflected net of the corollary tax impact of these expected settlements of $ 102.1 million , as well as a separate accrued interest liability of $ 1.7 million .as a result of the adoption of fin 48 , we are required to present the different components of such liability on a gross basis versus the historical net presentation .the adoption resulted in the financial statement liability for unrecognized tax benefits decreasing by $ 6.4 million as of january 1 , 2007 .the adoption resulted in this decrease in the liability as well as a reduction to retained earnings of $ 4.8 million , a reduction in goodwill of $ 61.4 million , the establishment of a tax receivable of $ 58.2 million , which was recorded in other current and non-current assets on our consolidated balance sheet , and an increase in an interest/penalty payable of $ 7.9 million , all as of january 1 , 2007 .therefore , after the adoption of fin 48 , the amount of unrecognized tax benefits is $ 95.7 million as of january 1 , 2007 , of which $ 28.6 million would impact our effective tax rate , if recognized .the amount of unrecognized tax benefits is $ 135.2 million as of december 31 , 2007 .of this amount , $ 41.0 million would impact our effective tax rate , if recognized .a reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows ( in millions ) : .
[['balance at january 1 2007', '$ 95.7'], ['increases related to prior periods', '27.4'], ['decreases related to prior periods', '-5.5 ( 5.5 )'], ['increases related to current period', '21.9'], ['decreases related to settlements with taxing authorities', '-1.3 ( 1.3 )'], ['decreases related to lapse of statue of limitations', '-3.0 ( 3.0 )'], ['balance at december 31 2007', '$ 135.2']]
we recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense in the consolidated statements of earnings , which is consistent with the recognition of these items in prior reporting periods .as of january 1 , 2007 , we recorded a liability of $ 9.6 million for accrued interest and penalties , of which $ 7.5 million would impact our effective tax rate , if recognized .the amount of this liability is $ 19.6 million as of december 31 , 2007 .of this amount , $ 14.7 million would impact our effective tax rate , if recognized .we expect that the amount of tax liability for unrecognized tax benefits will change in the next twelve months ; however , we do not expect these changes will have a significant impact on our results of operations or financial position .the u.s .federal statute of limitations remains open for the year 2003 and onward with years 2003 and 2004 currently under examination by the irs .it is reasonably possible that a resolution with the irs for the years 2003 through 2004 will be reached within the next twelve months , but we do not anticipate this would result in any material impact on our financial position .in addition , for the 1999 tax year of centerpulse , which we acquired in october 2003 , one issue remains in dispute .the resolution of this issue would not impact our effective tax rate , as it would be recorded as an adjustment to goodwill .state income tax returns are generally subject to examination for a period of 3 to 5 years after filing of the respective return .the state impact of any federal changes remains subject to examination by various states for a period of up to one year after formal notification to the states .we have various state income tax returns in the process of examination , administrative appeals or litigation .it is reasonably possible that such matters will be resolved in the next twelve months , but we do not anticipate that the resolution of these matters would result in any material impact on our results of operations or financial position .foreign jurisdictions have statutes of limitations generally ranging from 3 to 5 years .years still open to examination by foreign tax authorities in major jurisdictions include australia ( 2003 onward ) , canada ( 1999 onward ) , france ( 2005 onward ) , germany ( 2005 onward ) , italy ( 2003 onward ) , japan ( 2001 onward ) , puerto rico ( 2005 onward ) , singapore ( 2003 onward ) , switzerland ( 2004 onward ) , and the united kingdom ( 2005 onward ) .z i m m e r h o l d i n g s , i n c .2 0 0 7 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) .
|
what percent did the balance increase in 2007?
|
41.27%
|
{
"answer": "41.27%",
"decimal": 0.4127,
"type": "percentage"
}
|
makes more sense to do question 2 before question 1
|
united parcel service , inc .and subsidiaries management's discussion and analysis of financial condition and results of operations issuances of debt in 2014 and 2013 consisted primarily of longer-maturity commercial paper .issuances of debt in 2012 consisted primarily of senior fixed rate note offerings totaling $ 1.75 billion .repayments of debt in 2014 and 2013 consisted primarily of the maturity of our $ 1.0 and $ 1.75 billion senior fixed rate notes that matured in april 2014 and january 2013 , respectively .the remaining repayments of debt during the 2012 through 2014 time period included paydowns of commercial paper and scheduled principal payments on our capitalized lease obligations .we consider the overall fixed and floating interest rate mix of our portfolio and the related overall cost of borrowing when planning for future issuances and non-scheduled repayments of debt .we had $ 772 million of commercial paper outstanding at december 31 , 2014 , and no commercial paper outstanding at december 31 , 2013 and 2012 .the amount of commercial paper outstanding fluctuates throughout each year based on daily liquidity needs .the average commercial paper balance was $ 1.356 billion and the average interest rate paid was 0.10% ( 0.10 % ) in 2014 ( $ 1.013 billion and 0.07% ( 0.07 % ) in 2013 , and $ 962 million and 0.07% ( 0.07 % ) in 2012 , respectively ) .the variation in cash received from common stock issuances to employees was primarily due to level of stock option exercises in the 2012 through 2014 period .the cash outflows in other financing activities were impacted by several factors .cash inflows ( outflows ) from the premium payments and settlements of capped call options for the purchase of ups class b shares were $ ( 47 ) , $ ( 93 ) and $ 206 million for 2014 , 2013 and 2012 , respectively .cash outflows related to the repurchase of shares to satisfy tax withholding obligations on vested employee stock awards were $ 224 , $ 253 and $ 234 million for 2014 , 2013 and 2012 , respectively .in 2013 , we paid $ 70 million to purchase the noncontrolling interest in a joint venture that operates in the middle east , turkey and portions of the central asia region .in 2012 , we settled several interest rate derivatives that were designated as hedges of the senior fixed-rate debt offerings that year , which resulted in a cash outflow of $ 70 million .sources of credit see note 7 to the audited consolidated financial statements for a discussion of our available credit and debt covenants .guarantees and other off-balance sheet arrangements we do not have guarantees or other off-balance sheet financing arrangements , including variable interest entities , which we believe could have a material impact on financial condition or liquidity .contractual commitments we have contractual obligations and commitments in the form of capital leases , operating leases , debt obligations , purchase commitments , and certain other liabilities .we intend to satisfy these obligations through the use of cash flow from operations .the following table summarizes the expected cash outflow to satisfy our contractual obligations and commitments as of december 31 , 2014 ( in millions ) : .
[['commitment type', '2015', '2016', '2017', '2018', '2019', 'after 2019', 'total'], ['capital leases', '$ 75', '$ 74', '$ 67', '$ 62', '$ 59', '$ 435', '$ 772'], ['operating leases', '323', '257', '210', '150', '90', '274', '1304'], ['debt principal', '876', '8', '377', '752', '1000', '7068', '10081'], ['debt interest', '295', '293', '293', '282', '260', '4259', '5682'], ['purchase commitments', '269', '195', '71', '19', '8', '26', '588'], ['pension fundings', '1030', '1161', '344', '347', '400', '488', '3770'], ['other liabilities', '43', '23', '10', '5', '2014', '2014', '81'], ['total', '$ 2911', '$ 2011', '$ 1372', '$ 1617', '$ 1817', '$ 12550', '$ 22278']]
.
|
what percent of total expected cash outflow to satisfy contractual obligations and commitments as of december 31 , 2014 , is pension fundings?
|
17%
|
{
"answer": "17%",
"decimal": 0.17,
"type": "percentage"
}
| |
bhge 2018 form 10-k | 41 estimate would equal up to 5% ( 5 % ) of annual revenue .the expenditures are expected to be used primarily for normal , recurring items necessary to support our business .we also anticipate making income tax payments in the range of $ 425 million to $ 475 million in 2019 .contractual obligations in the table below , we set forth our contractual obligations as of december 31 , 2018 .certain amounts included in this table are based on our estimates and assumptions about these obligations , including their duration , anticipated actions by third parties and other factors .the contractual obligations we will actually pay in future periods may vary from those reflected in the table because the estimates and assumptions are subjective. .
[['( in millions )', 'payments due by period total', 'payments due by period less than1 year', 'payments due by period 1 - 3years', 'payments due by period 4 - 5years', 'payments due by period more than5 years'], ['total debt and capital lease obligations ( 1 )', '$ 6989', '$ 942', '$ 562', '$ 1272', '$ 4213'], ['estimated interest payments ( 2 )', '3716', '239', '473', '404', '2600'], ['operating leases ( 3 )', '846', '186', '262', '132', '266'], ['purchase obligations ( 4 )', '1507', '1388', '86', '25', '8'], ['total', '$ 13058', '$ 2755', '$ 1383', '$ 1833', '$ 7087']]
( 1 ) amounts represent the expected cash payments for the principal amounts related to our debt , including capital lease obligations .amounts for debt do not include any deferred issuance costs or unamortized discounts or premiums including step up in the value of the debt on the acquisition of baker hughes .expected cash payments for interest are excluded from these amounts .total debt and capital lease obligations includes $ 896 million payable to ge and its affiliates .as there is no fixed payment schedule on the amount payable to ge and its affiliates we have classified it as payable in less than one year .( 2 ) amounts represent the expected cash payments for interest on our long-term debt and capital lease obligations .( 3 ) amounts represent the future minimum payments under noncancelable operating leases with initial or remaining terms of one year or more .we enter into operating leases , some of which include renewal options , however , we have excluded renewal options from the table above unless it is anticipated that we will exercise such renewals .( 4 ) purchase obligations include expenditures for capital assets for 2019 as well as agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum or variable price provisions ; and the approximate timing of the transaction .due to the uncertainty with respect to the timing of potential future cash outflows associated with our uncertain tax positions , we are unable to make reasonable estimates of the period of cash settlement , if any , to the respective taxing authorities .therefore , $ 597 million in uncertain tax positions , including interest and penalties , have been excluded from the contractual obligations table above .see "note 12 .income taxes" of the notes to consolidated and combined financial statements in item 8 herein for further information .we have certain defined benefit pension and other post-retirement benefit plans covering certain of our u.s .and international employees .during 2018 , we made contributions and paid direct benefits of approximately $ 72 million in connection with those plans , and we anticipate funding approximately $ 41 million during 2019 .amounts for pension funding obligations are based on assumptions that are subject to change , therefore , we are currently not able to reasonably estimate our contribution figures after 2019 .see "note 11 .employee benefit plans" of the notes to consolidated and combined financial statements in item 8 herein for further information .off-balance sheet arrangements in the normal course of business with customers , vendors and others , we have entered into off-balance sheet arrangements , such as surety bonds for performance , letters of credit and other bank issued guarantees , which totaled approximately $ 3.6 billion at december 31 , 2018 .it is not practicable to estimate the fair value of these financial instruments .none of the off-balance sheet arrangements either has , or is likely to have , a material effect on our consolidated and combined financial statements. .
|
what are the total debt and capital lease obligations as a percentage of the total payments due?
|
53.5%
|
{
"answer": "53.5%",
"decimal": 0.535,
"type": "percentage"
}
| |
57management's discussion and analysis of financial condition and results of operations facility include covenants relating to net interest coverage and total debt-to-book capitalization ratios .the company was in compliance with the terms of the 3-year credit facility at december 31 , 2005 .the company has never borrowed under its domestic revolving credit facilities .utilization of the non-u.s .credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested .contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2005 .payments due by period ( 1 ) ( in millions ) total 2006 2007 2008 2009 2010 thereafter .
[['( in millions )', 'payments due by period ( 1 ) total', 'payments due by period ( 1 ) 2006', 'payments due by period ( 1 ) 2007', 'payments due by period ( 1 ) 2008', 'payments due by period ( 1 ) 2009', 'payments due by period ( 1 ) 2010', 'payments due by period ( 1 ) thereafter'], ['long-term debt obligations', '$ 4033', '$ 119', '$ 1222', '$ 200', '$ 2', '$ 529', '$ 1961'], ['lease obligations', '1150', '438', '190', '134', '109', '84', '195'], ['purchase obligations', '992', '418', '28', '3', '2', '2', '539'], ['total contractual obligations', '$ 6175', '$ 975', '$ 1440', '$ 337', '$ 113', '$ 615', '$ 2695']]
( 1 ) amounts included represent firm , non-cancelable commitments .debt obligations : at december 31 , 2005 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.0 billion , as compared to $ 5.0 billion at december 31 , 2004 .a table of all outstanding long-term debt securities can be found in note 4 , ""debt and credit facilities'' to the company's consolidated financial statements .as previously discussed , the decrease in the long- term debt obligations as compared to december 31 , 2004 , was due to the redemptions and repurchases of $ 1.0 billion principal amount of outstanding securities during 2005 .also , as previously discussed , the remaining $ 118 million of 7.6% ( 7.6 % ) notes due january 1 , 2007 were reclassified to current maturities of long-term debt .lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases .at december 31 , 2005 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 1.2 billion .rental expense , net of sublease income , was $ 254 million in 2005 , $ 217 million in 2004 and $ 223 million in 2003 .purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable .the longest of these agreements extends through 2015 .total payments expected to be made under these agreements total $ 992 million .commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers .most of the agreements extend for periods of one to three years ( three to five years for software ) .however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) .if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders .the company's liability would only arise in the event it terminates the agreements for reasons other than ""cause.'' in 2003 , the company entered into outsourcing contracts for certain corporate functions , such as benefit administration and information technology related services .these contracts generally extend for 10 years and are expected to expire in 2013 .the total payments under these contracts are approximately $ 3 billion over 10 years ; however , these contracts can be terminated .termination would result in a penalty substantially less than the annual contract payments .the company would also be required to find another source for these services , including the possibility of performing them in-house .as is customary in bidding for and completing network infrastructure projects and pursuant to a practice the company has followed for many years , the company has a number of performance/bid bonds and standby letters of credit outstanding , primarily relating to projects of government and enterprise mobility solutions segment and the networks segment .these instruments normally have maturities of up to three years and are standard in the .
|
what percent of the total contractual obligations should be paid by the end of 2006?
|
15.8%
|
{
"answer": "15.8%",
"decimal": 0.158,
"type": "percentage"
}
| |
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 20 .impairment expense asset impairment asset impairment expense for the year ended december 31 , 2011 consisted of : ( in millions ) .
[['', '2011 ( in millions )'], ['wind turbines & deposits', '$ 116'], ['tisza ii', '52'], ['kelanitissa', '42'], ['other', '15'], ['total', '$ 225']]
wind turbines & deposits 2014during the third quarter of 2011 , the company evaluated the future use of certain wind turbines held in storage pending their installation .due to reduced wind turbine market pricing and advances in turbine technology , the company determined it was more likely than not that the turbines would be sold significantly before the end of their previously estimated useful lives .in addition , the company has concluded that more likely than not non-refundable deposits it had made in prior years to a turbine manufacturer for the purchase of wind turbines are not recoverable .the company determined it was more likely than not that it would not proceed with the purchase of turbines due to the availability of more advanced and lower cost turbines in the market .these developments were more likely than not as of september 30 , 2011 and as a result were considered impairment indicators and the company determined that an impairment had occurred as of september 30 , 2011 as the aggregate carrying amount of $ 161 million of these assets was not recoverable and was reduced to their estimated fair value of $ 45 million determined under the market approach .this resulted in asset impairment expense of $ 116 million .wind generation is reported in the corporate and other segment .in january 2012 , the company forfeited the deposits for which a full impairment charge was recognized in the third quarter of 2011 , and there is no obligation for further payments under the related turbine supply agreement .additionally , the company sold some of the turbines held in storage during the fourth quarter of 2011 and is continuing to evaluate the future use of the turbines held in storage .the company determined it is more likely than not that they will be sold , however they are not being actively marketed for sale at this time as the company is reconsidering the potential use of the turbines in light of recent development activity at one of its advance stage development projects .it is reasonably possible that the turbines could incur further loss in value due to changing market conditions and advances in technology .tisza ii 2014during the fourth quarter of 2011 , tisza ii , a 900 mw gas and oil-fired generation plant in hungary entered into annual negotiations with its offtaker .as a result of these negotiations , as well as the further deterioration of the economic environment in hungary , the company determined that an indicator of impairment existed at december 31 , 2011 .thus , the company performed an asset impairment test and determined that based on the undiscounted cash flow analysis , the carrying amount of tisza ii asset group was not recoverable .the fair value of the asset group was then determined using a discounted cash flow analysis .the carrying value of the tisza ii asset group of $ 94 million exceeded the fair value of $ 42 million resulting in the recognition of asset impairment expense of $ 52 million during the three months ended december 31 , 2011 .tisza ii is reported in the europe generation reportable segment .kelanitissa 2014in 2011 , the company recognized asset impairment expense of $ 42 million for the long-lived assets of kelanitissa , our diesel-fired generation plant in sri lanka .we have continued to evaluate the recoverability of our long-lived assets at kelanitissa as a result of both the existing government regulation which .
|
what percentage of asset impairment expense for the year ended december 31 , 2011 was related to wind turbines & deposits?
|
52%
|
{
"answer": "52%",
"decimal": 0.52,
"type": "percentage"
}
| |
in 2011 , we transferred approximately 1.3 million shares of blackrock series c preferred stock to blackrock in connection with our obligation .in 2013 , we transferred an additional .2 million shares to blackrock .at december 31 , 2015 , we held approximately 1.3 million shares of blackrock series c preferred stock which were available to fund our obligation in connection with the blackrock ltip programs .see note 24 subsequent events for information on our february 1 , 2016 transfer of 0.5 million shares of the series c preferred stock to blackrock to satisfy a portion of our ltip obligation .pnc accounts for its blackrock series c preferred stock at fair value , which offsets the impact of marking-to-market the obligation to deliver these shares to blackrock .the fair value of the blackrock series c preferred stock is included on our consolidated balance sheet in the caption other assets .additional information regarding the valuation of the blackrock series c preferred stock is included in note 7 fair value .note 14 financial derivatives we use derivative financial instruments ( derivatives ) primarily to help manage exposure to interest rate , market and credit risk and reduce the effects that changes in interest rates may have on net income , the fair value of assets and liabilities , and cash flows .we also enter into derivatives with customers to facilitate their risk management activities .derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract .derivative transactions are often measured in terms of notional amount , but this amount is generally not exchanged and it is not recorded on the balance sheet .the notional amount is the basis to which the underlying is applied to determine required payments under the derivative contract .the underlying is a referenced interest rate ( commonly libor ) , security price , credit spread or other index .residential and commercial real estate loan commitments associated with loans to be sold also qualify as derivative instruments .the following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by pnc : table 111 : total gross derivatives .
[['in millions', 'december 31 2015 notional/contractamount', 'december 31 2015 assetfairvalue ( a )', 'december 31 2015 liabilityfairvalue ( b )', 'december 31 2015 notional/contractamount', 'december 31 2015 assetfairvalue ( a )', 'liabilityfairvalue ( b )'], ['derivatives designated as hedging instruments under gaap', '$ 52074', '$ 1159', '$ 174', '$ 49061', '$ 1261', '$ 186'], ['derivatives not designated as hedging instruments under gaap', '295902', '3782', '3628', '291256', '3973', '3841'], ['total gross derivatives', '$ 347976', '$ 4941', '$ 3802', '$ 340317', '$ 5234', '$ 4027']]
( a ) included in other assets on our consolidated balance sheet .( b ) included in other liabilities on our consolidated balance sheet .all derivatives are carried on our consolidated balance sheet at fair value .derivative balances are presented on the consolidated balance sheet on a net basis taking into consideration the effects of legally enforceable master netting agreements and , when appropriate , any related cash collateral exchanged with counterparties .further discussion regarding the offsetting rights associated with these legally enforceable master netting agreements is included in the offsetting , counterparty credit risk , and contingent features section below .any nonperformance risk , including credit risk , is included in the determination of the estimated net fair value of the derivatives .further discussion on how derivatives are accounted for is included in note 1 accounting policies .derivatives designated as hedging instruments under gaap certain derivatives used to manage interest rate and foreign exchange risk as part of our asset and liability risk management activities are designated as accounting hedges under gaap .derivatives hedging the risks associated with changes in the fair value of assets or liabilities are considered fair value hedges , derivatives hedging the variability of expected future cash flows are considered cash flow hedges , and derivatives hedging a net investment in a foreign subsidiary are considered net investment hedges .designating derivatives as accounting hedges allows for gains and losses on those derivatives , to the extent effective , to be recognized in the income statement in the same period the hedged items affect earnings .180 the pnc financial services group , inc .2013 form 10-k .
|
for 2015 , the fair value of total gross derivatives was what percent of notional value?
|
1.4%
|
{
"answer": "1.4%",
"decimal": 0.013999999999999999,
"type": "percentage"
}
| |
we realize synergies from consolidating businesses into our existing operations , whether through acquisitions or public-private partnerships , which allow us to reduce capital and expense requirements associated with truck routing , personnel , fleet maintenance , inventories and back-office administration .operating model the goal of our operating model pillar is to deliver a consistent , high quality service to all of our customers through the republic way : one way .everywhere .every day .this approach of developing standardized processes with rigorous controls and tracking allows us to leverage our scale and deliver durable operational excellence .the republic way is the key to harnessing the best of what we do as operators and translating that across all facets of our business .a key enabler of the republic way is our organizational structure that fosters a high performance culture by maintaining 360 degree accountability and full profit and loss responsibility with general management , supported by a functional structure to provide subject matter expertise .this structure allows us to take advantage of our scale by coordinating functionally across all of our markets , while empowering local management to respond to unique market dynamics .we have rolled out several productivity and cost control initiatives designed to deliver the best service possible to our customers in the most efficient and environmentally sound way .fleet automation approximately 72% ( 72 % ) of our residential routes have been converted to automated single driver trucks .by converting our residential routes to automated service , we reduce labor costs , improve driver productivity , decrease emissions and create a safer work environment for our employees .additionally , communities using automated vehicles have higher participation rates in recycling programs , thereby complementing our initiative to expand our recycling capabilities .fleet conversion to compressed natural gas ( cng ) approximately 16% ( 16 % ) of our fleet operates on cng .we expect to continue our gradual fleet conversion to cng , our preferred alternative fuel technology , as part of our ordinary annual fleet replacement process .we believe a gradual fleet conversion is most prudent to realize the full value of our previous fleet investments .approximately 33% ( 33 % ) of our replacement vehicle purchases during 2015 were cng vehicles .we believe using cng vehicles provides us a competitive advantage in communities with strict clean emission initiatives that focus on protecting the environment .although upfront costs are higher , using cng reduces our overall fleet operating costs through lower fuel expenses .as of december 31 , 2015 , we operated 38 cng fueling stations .standardized maintenance based on an industry trade publication , we operate the ninth largest vocational fleet in the united states .as of december 31 , 2015 , our average fleet age in years , by line of business , was as follows : approximate number of vehicles approximate average age .
[['', 'approximate number of vehicles', 'approximate average age'], ['residential', '7200', '7'], ['small-container commercial', '4400', '7'], ['large-container industrial', '4000', '9'], ['total', '15600', '7.5']]
onefleet , our standardized vehicle maintenance program , enables us to use best practices for fleet management , truck care and maintenance .through standardization of core functions , we believe we can minimize variability .
|
based on the provided information what is the approximate number of vehicles that have been converted to natural gas
|
2496
|
{
"answer": "2496",
"decimal": 2496,
"type": "float"
}
| |
the principal components of eog's rollforward of valuation allowances for deferred income tax assets were as follows ( in thousands ) : .
[['', '2017', '2016', '2015'], ['beginning balance', '$ 383221', '$ 506127', '$ 463018'], ['increase ( 1 )', '67333', '37221', '146602'], ['decrease ( 2 )', '-13687 ( 13687 )', '-12667 ( 12667 )', '-4315 ( 4315 )'], ['other ( 3 )', '29554', '-147460 ( 147460 )', '-99178 ( 99178 )'], ['ending balance', '$ 466421', '$ 383221', '$ 506127']]
( 1 ) increase in valuation allowance related to the generation of tax nols 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 .as of december 31 , 2017 , eog had state income tax nols being carried forward of approximately $ 1.7 billion , which , if unused , expire between 2018 and 2036 .during 2017 , eog's united kingdom subsidiary incurred a tax nol of approximately $ 72 million which , along with prior years' nols of $ 857 million , will be carried forward indefinitely .eog also has united states federal and canadian nols of $ 335 million and $ 158 million , respectively , with varying carryforward periods .eog's remaining amt credits total $ 798 million , resulting from amt paid with respect to prior years and an increase of $ 41 million in 2017 .as described above , these nols and credits , as well as other less significant future income tax benefits , have been evaluated for the likelihood of utilization , and valuation allowances have been established for the portion of these deferred income tax assets that t do not meet the "more likely than not" threshold .as further described above , significant changes were made by the tcja to the corporate amt that are favorable to eog , including the refunding of amt credit carryovers .due to these legislative changes , eog intends to settle certain uncertain tax positions related to amt credits for taxable years 2011 through 2015 , resulting in a decrease of uncertain tax positions of $ 40 million .the amount of unrecognized tax benefits at december 31 , 2017 , was $ 39 million , resulting from the tax treatment of its research and experimental expenditures related to certain innovations in its horizontal drilling and completion projects , which ish not expected to have an earnings impact .eog records interest and penalties related to unrecognized tax benefits to its income tax provision .eog does not anticipate that the amount of the unrecognized tax benefits will increase 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 ( 2014 ) , united kingdom ( 2016 ) , trinidad ( 2011 ) and china ( 2008 ) .eog's foreign subsidiaries' undistributed earnings are no longer considered to be permanently reinvested outside the u.s .and , accordingly , eog has cumulatively recorded $ 20 million of foreign and state deferred income taxes as of december 31 , 2017 .7 .employee benefit plans stock-based compensation during 2017 , 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 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. .
|
considering the eog's roll forward of valuation allowances for deferred income tax assets during 2015-2017 , what was the lowest value registered in the beginning balance?
|
383221
|
{
"answer": "383221",
"decimal": 383221,
"type": "float"
}
|
it is the minimum value of this period .
|
republic services , inc .notes to consolidated financial statements 2014 ( continued ) the letters of credit use $ 909.4 million and $ 950.2 million as of december 31 , 2012 and 2011 , respectively , of availability under our credit facilities .surety bonds expire on various dates through 2026 .these financial instruments are issued in the normal course of business and are not debt .because we currently have no liability for this financial assurance , it is not reflected in our consolidated balance sheets .however , we have recorded capping , closure and post-closure obligations and self-insurance reserves as they are incurred .the underlying financial assurance obligations , in excess of those already reflected in our consolidated balance sheets , would be recorded if it is probable that we would be unable to fulfill our related obligations .we do not expect this to occur .our restricted cash and marketable securities deposits include , among other things , restricted cash and marketable securities held for capital expenditures under certain debt facilities , and restricted cash and marketable securities pledged to regulatory agencies and governmental entities as financial guarantees of our performance related to our final capping , closure and post-closure obligations at our landfills .the following table summarizes our restricted cash and marketable securities as of december 31: .
[['', '2012', '2011'], ['financing proceeds', '$ 24.7', '$ 22.5'], ['capping closure and post-closure obligations', '54.8', '54.9'], ['self-insurance', '81.3', '75.2'], ['other', '3.4', '37.0'], ['total restricted cash and marketable securities', '$ 164.2', '$ 189.6']]
we own a 19.9% ( 19.9 % ) interest in a company that , among other activities , issues financial surety bonds to secure capping , closure and post-closure obligations for companies operating in the solid waste industry .we account for this investment under the cost method of accounting .there have been no identified events or changes in circumstances that may have a significant adverse effect on the recoverability of the investment .this investee company and the parent company of the investee had written surety bonds for us relating primarily to our landfill operations for capping , closure and post-closure , of which $ 1152.1 million was outstanding as of december 31 , 2012 .our reimbursement obligations under these bonds are secured by an indemnity agreement with the investee and letters of credit totaling $ 23.4 million and $ 45.0 million as of december 31 , 2012 and 2011 .off-balance sheet arrangements we have no off-balance sheet debt or similar obligations , other than operating leases and the financial assurances discussed above , which are not classified as debt .we have no transactions or obligations with related parties that are not disclosed , consolidated into or reflected in our reported financial position or results of operations .we have not guaranteed any third-party debt .guarantees we enter into contracts in the normal course of business that include indemnification clauses .indemnifications relating to known liabilities are recorded in the consolidated financial statements based on our best estimate of required future payments .certain of these indemnifications relate to contingent events or occurrences , such as the imposition of additional taxes due to a change in the tax law or adverse interpretation of the tax law , and indemnifications made in divestiture agreements where we indemnify the buyer for liabilities that relate to our activities prior to the divestiture and that may become known in the future .we do not believe that these contingent obligations will have a material effect on our consolidated financial position , results of operations or cash flows. .
|
what was the percentage decline in the total restricted cash and marketable securities from 2011 to 2012
|
-13.4%
|
{
"answer": "-13.4%",
"decimal": -0.134,
"type": "percentage"
}
|
the percentage change is the change from one period to the next divide by the earliest period
|
marathon oil corporation notes to consolidated financial statements the changes in the carrying amount of goodwill for the years ended december 31 , 2007 , and 2008 , were as follows : ( in millions ) e&p osm rm&t total .
[['( in millions )', 'e&p', 'osm', 'rm&t', 'total'], ['balance as of december 31 2006', '$ 519', '$ 2013', '$ 879', '$ 1398'], ['acquired', '71', '1437', '2013', '1508'], ['adjusted ( a )', '2013', '2013', '-7 ( 7 )', '-7 ( 7 )'], ['balance as of december 31 2007', '590', '1437', '872', '2899'], ['adjusted ( a )', '-17 ( 17 )', '-25 ( 25 )', '7', '-35 ( 35 )'], ['impaired', '2013', '-1412 ( 1412 )', '2013', '-1412 ( 1412 )'], ['disposed ( b )', '-5 ( 5 )', '', '2013', '-5 ( 5 )'], ['balance as of december 31 2008', '$ 568', '$ 2013', '$ 879', '$ 1447']]
( a ) adjustments related to prior period income tax and royalty adjustments .( b ) goodwill was allocated to the norwegian outside-operated properties sold in 2008 .17 .fair value measurements as defined in sfas no .157 , fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date .sfas no .157 describes three approaches to measuring the fair value of assets and liabilities : the market approach , the income approach and the cost approach , each of which includes multiple valuation techniques .the market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities .the income approach uses valuation techniques to measure fair value by converting future amounts , such as cash flows or earnings , into a single present value amount using current market expectations about those future amounts .the cost approach is based on the amount that would currently be required to replace the service capacity of an asset .this is often referred to as current replacement cost .the cost approach assumes that the fair value would not exceed what it would cost a market participant to acquire or construct a substitute asset of comparable utility , adjusted for obsolescence .sfas no .157 does not prescribe which valuation technique should be used when measuring fair value and does not prioritize among the techniques .sfas no .157 establishes a fair value hierarchy that prioritizes the inputs used in applying the various valuation techniques .inputs broadly refer to the assumptions that market participants use to make pricing decisions , including assumptions about risk .level 1 inputs are given the highest priority in the fair value hierarchy while level 3 inputs are given the lowest priority .the three levels of the fair value hierarchy are as follows .2022 level 1 2013 observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date .active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis .2022 level 2 2013 observable market-based inputs or unobservable inputs that are corroborated by market data .these are inputs other than quoted prices in active markets included in level 1 , which are either directly or indirectly observable as of the reporting date .2022 level 3 2013 unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management 2019s best estimate of fair value .we use a market or income approach for recurring fair value measurements and endeavor to use the best information available .accordingly , valuation techniques that maximize the use of observable inputs are favored .financial assets and liabilities are classified in their entirety based on the lowest priority level of input that is significant to the fair value measurement .the assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement of assets and liabilities within the levels of the fair value hierarchy. .
|
excluding 2008 adjustments , what was the balance of the rm&t segment goodwill as of december 31 2008 , in millions?
|
872
|
{
"answer": "872",
"decimal": 872,
"type": "float"
}
| |
edwards lifesciences corporation notes to consolidated financial statements ( continued ) 12 .employee benefit plans ( continued ) equity and debt securities are valued at fair value based on quoted market prices reported on the active markets on which the individual securities are traded .the insurance contracts are valued at the cash surrender value of the contracts , which is deemed to approximate its fair value .the following benefit payments , which reflect expected future service , as appropriate , at december 31 , 2014 , are expected to be paid ( in millions ) : .
[['2015', '$ 3.7'], ['2016', '5.5'], ['2017', '4.2'], ['2018', '4.2'], ['2019', '4.1'], ['2020-2024', '32.3']]
as of december 31 , 2014 , expected employer contributions for 2015 are $ 5.8 million .defined contribution plans the company 2019s employees in the united states and puerto rico are eligible to participate in a qualified 401 ( k ) and 1165 ( e ) plan , respectively .in the united states , participants may contribute up to 25% ( 25 % ) of their eligible compensation ( subject to tax code limitation ) to the plan .edwards lifesciences matches the first 3% ( 3 % ) of the participant 2019s annual eligible compensation contributed to the plan on a dollar-for-dollar basis .edwards lifesciences matches the next 2% ( 2 % ) of the participant 2019s annual eligible compensation to the plan on a 50% ( 50 % ) basis .in puerto rico , participants may contribute up to 25% ( 25 % ) of their annual compensation ( subject to tax code limitation ) to the plan .edwards lifesciences matches the first 4% ( 4 % ) of participant 2019s annual eligible compensation contributed to the plan on a 50% ( 50 % ) basis .the company also provides a 2% ( 2 % ) profit sharing contribution calculated on eligible earnings for each employee .matching contributions relating to edwards lifesciences employees were $ 12.8 million , $ 12.0 million , and $ 10.8 million in 2014 , 2013 , and 2012 , respectively .the company also has nonqualified deferred compensation plans for a select group of employees .the plans provide eligible participants the opportunity to defer eligible compensation to future dates specified by the participant with a return based on investment alternatives selected by the participant .the amount accrued under these nonqualified plans was $ 28.7 million and $ 25.9 million at december 31 , 2014 and 2013 , respectively .13 .common stock treasury stock in may 2013 , the board of directors approved a stock repurchase program authorizing the company to purchase up to $ 750.0 million of the company 2019s common stock from time to time until december 31 , 2016 .in july 2014 , the board of directors approved a new stock repurchase program providing for an additional $ 750.0 million of repurchases without a specified end date .stock repurchased under these programs will be used to offset obligations under the company 2019s employee stock option programs and reduce the total shares outstanding .during 2014 , 2013 , and 2012 , the company repurchased 4.4 million , 6.8 million , and 4.0 million shares , respectively , at an aggregate cost of $ 300.9 million , $ 497.0 million , and $ 353.2 million , respectively , including shares purchased under the accelerated share repurchase ( 2018 2018asr 2019 2019 ) agreements described below and shares .
|
what was the average purchase price of company repurchased shares in 2013?
|
73.08
|
{
"answer": "73.08",
"decimal": 73.08,
"type": "float"
}
| |
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 portion of the increase of marketing and sales expense in 2006 is incurred by the increase in stock-based compensation expense due to our adoption of sfas no?
|
37.6%
|
{
"answer": "37.6%",
"decimal": 0.376,
"type": "percentage"
}
| |
2022 increased proved liquid hydrocarbon , including synthetic crude oil , reserves to 78 percent from 75 percent of proved reserves 2022 increased e&p net sales volumes , excluding libya , by 7 percent 2022 recorded 96 percent average operational availability for all major company-operated e&p assets , compared to 94 percent in 2010 2022 completed debottlenecking work that increased crude oil production capacity at the alvheim fpso in norway to 150000 gross bbld from the previous capacity of 142000 gross bbld and the original 2008 capacity of 120000 gross bbld 2022 announced two non-operated discoveries in the iraqi kurdistan region and began drilling in poland 2022 completed aosp expansion 1 , including the start-up of the expanded scotford upgrader , realizing an increase in net synthetic crude oil sales volumes of 48 percent 2022 completed dispositions of non-core assets and interests in acreage positions for net proceeds of $ 518 million 2022 repurchased 12 million shares of our common stock at a cost of $ 300 million 2022 retired $ 2498 million principal of our long-term debt 2022 resumed limited production in libya in the fourth quarter of 2011 following the february 2011 temporary suspension of operations consolidated results of operations : 2011 compared to 2010 due to the spin-off of our downstream business on june 30 , 2011 , which is reported as discontinued operations , income from continuing operations is more representative of marathon oil as an independent energy company .consolidated income from continuing operations before income taxes was 9 percent higher in 2011 than in 2010 , largely due to higher liquid hydrocarbon prices .this improvement was offset by increased income taxes primarily the result of excess foreign tax credits generated during 2011 that we do not expect to utilize in the future .the effective income tax rate for continuing operations was 61 percent in 2011 compared to 54 percent in 2010 .revenues are summarized in the following table : ( in millions ) 2011 2010 .
[['( in millions )', '2011', '2010'], ['e&p', '$ 13029', '$ 10782'], ['osm', '1588', '833'], ['ig', '93', '150'], ['segment revenues', '14710', '11765'], ['elimination of intersegment revenues', '-47 ( 47 )', '-75 ( 75 )'], ['total revenues', '$ 14663', '$ 11690']]
e&p segment revenues increased $ 2247 million from 2010 to 2011 , primarily due to higher average liquid hydrocarbon realizations , which were $ 99.37 per bbl in 2011 , a 31 percent increase over 2010 .revenues in 2010 included net pre-tax gains of $ 95 million on derivative instruments intended to mitigate price risk on future sales of liquid hydrocarbons and natural gas .included in our e&p segment are supply optimization activities which include the purchase of commodities from third parties for resale .supply optimization serves to aggregate volumes in order to satisfy transportation commitments and to achieve flexibility within product types and delivery points .see the cost of revenues discussion as revenues from supply optimization approximate the related costs .higher average crude oil prices in 2011 compared to 2010 increased revenues related to supply optimization .revenues from the sale of our u.s .production are higher in 2011 primarily as a result of higher liquid hydrocarbon and natural gas price realizations , but sales volumes declined. .
|
by how much did total revenues increase from 2010 to 2011?
|
25.4%
|
{
"answer": "25.4%",
"decimal": 0.254,
"type": "percentage"
}
| |
changes in the benchmark index component of the 10-year treasury yield .the company def signated these derivatives as cash flow hedges .on october 13 , 2015 , in conjunction with the pricing of the $ 4.5 billion senior notes , the companyr terminated these treasury lock contracts for a cash settlement payment of $ 16 million , which was recorded as a component of other comprehensive earnings and will be reclassified as an adjustment to interest expense over the ten years during which the related interest payments that were hedged will be recognized in income .foreign currency risk we are exposed to foreign currency risks that arise from normal business operations .these risks include the translation of local currency balances of foreign subsidiaries , transaction gains and losses associated with intercompany loans with foreign subsidiaries and transactions denominated in currencies other than a location's functional currency .we manage the exposure to these risks through a combination of normal operating activities and the use of foreign currency forward contracts .contracts are denominated in currtt encies of major industrial countries .our exposure to foreign currency exchange risks generally arises from our non-u.s .operations , to the extent they are conducted ind local currency .changes in foreign currency exchange rates affect translations of revenues denominated in currencies other than the u.s .dollar .during the years ended december 31 , 2016 , 2015 and 2014 , we generated approximately $ 1909 million , $ 1336 million and $ 1229 million , respectively , in revenues denominated in currencies other than the u.s .dollar .the major currencies to which our revenues are exposed are the brazilian real , the euro , the british pound sterling and the indian rupee .a 10% ( 10 % ) move in average exchange rates for these currencies ( assuming a simultaneous and immediate 10% ( 10 % ) change in all of such rates for the relevant period ) would have resulted in the following increase or ( decrease ) in our reported revenues for the years ended december 31 , 2016 , 2015 and 2014 ( in millions ) : .
[['currency', '2016', '2015', '2014'], ['pound sterling', '$ 47', '$ 34', '$ 31'], ['euro', '38', '33', '30'], ['real', '32', '29', '38'], ['indian rupee', '12', '10', '8'], ['total impact', '$ 129', '$ 106', '$ 107']]
while our results of operations have been impacted by the effects of currency fluctuations , our international operations' revenues and expenses are generally denominated in local currency , which reduces our economic exposure to foreign exchange risk in those jurisdictions .revenues included $ 100 million and $ 243 million and net earnings included $ 10 million , anrr d $ 31 million , respectively , of unfavorable foreign currency impact during 2016 and 2015 resulting from a stronger u.s .dollar during these years compared to thet preceding year .in 2017 , we expect continued unfavorable foreign currency impact on our operating income resulting from the continued strengthening of the u.s .dollar vs .other currencies .our foreign exchange risk management policy permits the use of derivative instruments , such as forward contracts and options , to reduce volatility in our results of operations and/or cash flows resulting from foreign exchange rate fluctuations .we do not enter into foreign currency derivative instruments for trading purposes or to engage in speculative activitr y .we do periodically enter inttt o foreign currency forward exchange contracts to hedge foreign currency exposure to intercompany loans .as of december 31 , 2016 , the notional amount of these derivatives was approximately $ 143 million and the fair value was nominal .these derivatives are intended to hedge the foreign exchange risks related to intercompany loans but have not been designated as hedges for accounting purposes .we also use currency forward contracts to manage our exposure to fluctuations in costs caused by variations in indian rupee ( "inr" ) exchange rates .as of december 31 , 2016 , the notional amount of these derivatives was approximately $ 7 million and the fair value was ll less than $ 1 million .these inr forward contracts are designated as cash flow hedges .the fair value of these currency forward contracts is determined using currency exchange market rates , obtained from reliable , independent , third m party banks , at the balance sheet date .the fair value of forward contracts is subject to changes in currency exchange rates .the company has no ineffectiveness related to its use of currency forward contracts in connection with inr cash flow hedges .in conjunction with entering into the definitive agreement to acquire clear2pay in september 2014 , we initiated a foreign currency forward contract to purchase euros and sell u.s .dollars to manage the risk arising from fluctuations in exchange rates until the closing because the purchase price was stated in euros .as this derivative did not qualify for hedge accounting , we recorded a charge of $ 16 million in other income ( expense ) , net during the third quarter of 2014 .this forward contract was settled on october 1 , 2014. .
|
what is the unfavorable foreign currency impact in operating expenses in 2016?
|
90
|
{
"answer": "90",
"decimal": 90,
"type": "float"
}
| |
the goldman sachs group , inc .and subsidiaries management 2019s discussion and analysis net revenues in equities were $ 6.60 billion , 4% ( 4 % ) lower than 2016 , primarily due to lower commissions and fees , reflecting a decline in our listed cash equity volumes in the u.s .market volumes in the u.s .also declined .in addition , net revenues in equities client execution were lower , reflecting lower net revenues in derivatives , partially offset by higher net revenues in cash products .net revenues in securities services were essentially unchanged .operating expenses were $ 9.69 billion for 2017 , essentially unchanged compared with 2016 , due to decreased compensation and benefits expenses , reflecting lower net revenues , largely offset by increased technology expenses , reflecting higher expenses related to cloud-based services and software depreciation , and increased consulting costs .pre-tax earnings were $ 2.21 billion in 2017 , 54% ( 54 % ) lower than 2016 .investing & lending investing & lending includes our investing activities and the origination of loans , including our relationship lending activities , to provide financing to clients .these investments and loans are typically longer-term in nature .we make investments , some of which are consolidated , including through our merchant banking business and our special situations group , in debt securities and loans , public and private equity securities , infrastructure and real estate entities .some of these investments are made indirectly through funds that we manage .we also make unsecured loans through our digital platform , marcus : by goldman sachs and secured loans through our digital platform , goldman sachs private bank select .the table below presents the operating results of our investing & lending segment. .
[['$ in millions', 'year ended december 2018', 'year ended december 2017', 'year ended december 2016'], ['equity securities', '$ 4455', '$ 4578', '$ 2573'], ['debt securities and loans', '3795', '2660', '1689'], ['total net revenues', '8250', '7238', '4262'], ['provision for credit losses', '674', '657', '182'], ['operating expenses', '3365', '2796', '2386'], ['pre-taxearnings', '$ 4211', '$ 3785', '$ 1694']]
operating environment .during 2018 , our investments in private equities benefited from company-specific events , including sales , and strong corporate performance , while investments in public equities reflected losses , as global equity prices generally decreased .results for our investments in debt securities and loans reflected continued growth in loans receivables , resulting in higher net interest income .if macroeconomic concerns negatively affect corporate performance or the origination of loans , or if global equity prices continue to decline , net revenues in investing & lending would likely be negatively impacted .during 2017 , generally higher global equity prices and tighter credit spreads contributed to a favorable environment for our equity and debt investments .results also reflected net gains from company-specific events , including sales , and corporate performance .2018 versus 2017 .net revenues in investing & lending were $ 8.25 billion for 2018 , 14% ( 14 % ) higher than 2017 .net revenues in equity securities were $ 4.46 billion , 3% ( 3 % ) lower than 2017 , reflecting net losses from investments in public equities ( 2018 included $ 183 million of net losses ) compared with net gains in the prior year , partially offset by significantly higher net gains from investments in private equities ( 2018 included $ 4.64 billion of net gains ) , driven by company-specific events , including sales , and corporate performance .for 2018 , 60% ( 60 % ) of the net revenues in equity securities were generated from corporate investments and 40% ( 40 % ) were generated from real estate .net revenues in debt securities and loans were $ 3.80 billion , 43% ( 43 % ) higher than 2017 , primarily driven by significantly higher net interest income .2018 included net interest income of approximately $ 2.70 billion compared with approximately $ 1.80 billion in 2017 .provision for credit losses was $ 674 million for 2018 , compared with $ 657 million for 2017 , as the higher provision for credit losses primarily related to consumer loan growth in 2018 was partially offset by an impairment of approximately $ 130 million on a secured loan in 2017 .operating expenses were $ 3.37 billion for 2018 , 20% ( 20 % ) higher than 2017 , primarily due to increased expenses related to consolidated investments and our digital lending and deposit platform , and increased compensation and benefits expenses , reflecting higher net revenues .pre-tax earnings were $ 4.21 billion in 2018 , 11% ( 11 % ) higher than 2017 versus 2016 .net revenues in investing & lending were $ 7.24 billion for 2017 , 70% ( 70 % ) higher than 2016 .net revenues in equity securities were $ 4.58 billion , 78% ( 78 % ) higher than 2016 , primarily reflecting a significant increase in net gains from private equities ( 2017 included $ 3.82 billion of net gains ) , which were positively impacted by company-specific events and corporate performance .in addition , net gains from public equities ( 2017 included $ 762 million of net gains ) were significantly higher , as global equity prices increased during the year .for 2017 , 64% ( 64 % ) of the net revenues in equity securities were generated from corporate investments and 36% ( 36 % ) were generated from real estate .net revenues in debt securities and loans were $ 2.66 billion , 57% ( 57 % ) higher than 2016 , reflecting significantly higher net interest income ( 2017 included approximately $ 1.80 billion of net interest income ) .60 goldman sachs 2018 form 10-k .
|
what were net revenues in investing & lending in billions for 2017?
|
7.1
|
{
"answer": "7.1",
"decimal": 7.1,
"type": "float"
}
| |
the company orders components for its products and builds inventory in advance of product shipments .because the company 2019s markets are volatile and subject to rapid technology and price changes , there is a risk the company will forecast incorrectly and produce or order from third-parties excess or insufficient inventories of particular products or components .the company 2019s operating results and financial condition in the past have been and may in the future be materially adversely affected by the company 2019s ability to manage its inventory levels and outstanding purchase commitments and to respond to short-term shifts in customer demand patterns .gross margin declined in 2004 to 27.3% ( 27.3 % ) of net sales from 27.5% ( 27.5 % ) of net sales in 2003 .the company 2019s gross margin during 2004 declined due to an increase in mix towards lower margin ipod and ibook sales , pricing actions on certain power macintosh g5 models that were transitioned during the beginning of 2004 , higher warranty costs on certain portable macintosh products , and higher freight and duty costs during 2004 .these unfavorable factors were partially offset by an increase in direct sales and a 39% ( 39 % ) year-over-year increase in higher margin software sales .operating expenses operating expenses for each of the last three fiscal years are as follows ( in millions , except for percentages ) : september 24 , september 25 , september 27 , 2005 2004 2003 .
[['', 'september 24 2005', 'september 25 2004', 'september 27 2003'], ['research and development', '$ 534', '$ 489', '$ 471'], ['percentage of net sales', '4% ( 4 % )', '6% ( 6 % )', '8% ( 8 % )'], ['selling general and administrative expenses', '$ 1859', '$ 1421', '$ 1212'], ['percentage of net sales', '13% ( 13 % )', '17% ( 17 % )', '20% ( 20 % )'], ['restructuring costs', '$ 2014', '$ 23', '$ 26']]
research and development ( r&d ) the company recognizes that focused investments in r&d are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the company 2019s core business strategy .the company has historically relied upon innovation to remain competitive .r&d expense amounted to approximately 4% ( 4 % ) of total net sales during 2005 down from 6% ( 6 % ) and 8% ( 8 % ) of total net sales in 2004 and 2003 , respectively .this decrease is due to the significant increase of 68% ( 68 % ) in total net sales of the company for 2005 .although r&d expense decreased as a percentage of total net sales in 2005 , actual expense for r&d in 2005 increased $ 45 million or 9% ( 9 % ) from 2004 , which follows an $ 18 million or 4% ( 4 % ) increase in 2004 compared to 2003 .the overall increase in r&d expense relates primarily to increased headcount and support for new product development activities and the impact of employee salary increases in 2005 .r&d expense does not include capitalized software development costs of approximately $ 29.7 million related to the development of mac os x tiger during 2005 ; $ 4.5 million related to the development of mac os x tiger and $ 2.3 million related to the development of filemaker pro 7 in 2004 ; and $ 14.7 million related to the development of mac os x panther in 2003 .further information related to the company 2019s capitalization of software development costs may be found in part ii , item 8 of this form 10-k at note 1 of notes to consolidated financial statements .selling , general , and administrative expense ( sg&a ) expenditures for sg&a increased $ 438 million or 31% ( 31 % ) during 2005 compared to 2004 .these increases are due primarily to the company 2019s continued expansion of its retail segment in both domestic and international markets , a current year increase in discretionary spending on marketing and advertising , and higher direct and channel selling expenses resulting from the increase in net sales and employee salary .
|
what was the average research and development expense for fye 2003-2005 , in millions ? $ 534 $ 489 $ 471
|
501
|
{
"answer": "501",
"decimal": 501,
"type": "float"
}
| |
$ 43.3 million in 2011 compared to $ 34.1 million in 2010 .the retail segment represented 13% ( 13 % ) and 15% ( 15 % ) of the company 2019s total net sales in 2011 and 2010 , respectively .the retail segment 2019s operating income was $ 4.7 billion , $ 3.2 billion , and $ 2.3 billion during 2012 , 2011 , and 2010 respectively .these year-over-year increases in retail operating income were primarily attributable to higher overall net sales that resulted in significantly higher average revenue per store during the respective years .gross margin gross margin for 2012 , 2011 and 2010 are as follows ( in millions , except gross margin percentages ) : .
[['', '2012', '2011', '2010'], ['net sales', '$ 156508', '$ 108249', '$ 65225'], ['cost of sales', '87846', '64431', '39541'], ['gross margin', '$ 68662', '$ 43818', '$ 25684'], ['gross margin percentage', '43.9% ( 43.9 % )', '40.5% ( 40.5 % )', '39.4% ( 39.4 % )']]
the gross margin percentage in 2012 was 43.9% ( 43.9 % ) , compared to 40.5% ( 40.5 % ) in 2011 .this year-over-year increase in gross margin was largely driven by lower commodity and other product costs , a higher mix of iphone sales , and improved leverage on fixed costs from higher net sales .the increase in gross margin was partially offset by the impact of a stronger u.s .dollar .the gross margin percentage during the first half of 2012 was 45.9% ( 45.9 % ) compared to 41.4% ( 41.4 % ) during the second half of 2012 .the primary drivers of higher gross margin in the first half of 2012 compared to the second half are a higher mix of iphone sales and improved leverage on fixed costs from higher net sales .additionally , gross margin in the second half of 2012 was also affected by the introduction of new products with flat pricing that have higher cost structures and deliver greater value to customers , price reductions on certain existing products , higher transition costs associated with product launches , and continued strengthening of the u.s .dollar ; partially offset by lower commodity costs .the gross margin percentage in 2011 was 40.5% ( 40.5 % ) , compared to 39.4% ( 39.4 % ) in 2010 .this year-over-year increase in gross margin was largely driven by lower commodity and other product costs .the company expects to experience decreases in its gross margin percentage in future periods , as compared to levels achieved during 2012 , and the company anticipates gross margin of about 36% ( 36 % ) during the first quarter of 2013 .expected future declines in gross margin are largely due to a higher mix of new and innovative products with flat or reduced pricing that have higher cost structures and deliver greater value to customers and anticipated component cost and other cost increases .future strengthening of the u.s .dollar could further negatively impact gross margin .the foregoing statements regarding the company 2019s expected gross margin percentage in future periods , including the first quarter of 2013 , are forward-looking and could differ from actual results because of several factors including , but not limited to those set forth above in part i , item 1a of this form 10-k under the heading 201crisk factors 201d and those described in this paragraph .in general , gross margins and margins on individual products will remain under downward pressure due to a variety of factors , including continued industry wide global product pricing pressures , increased competition , compressed product life cycles , product transitions and potential increases in the cost of components , as well as potential increases in the costs of outside manufacturing services and a potential shift in the company 2019s sales mix towards products with lower gross margins .in response to competitive pressures , the company expects it will continue to take product pricing actions , which would adversely affect gross margins .gross margins could also be affected by the company 2019s ability to manage product quality and warranty costs effectively and to stimulate demand for certain of its products .due to the company 2019s significant international operations , financial results can be significantly affected in the short-term by fluctuations in exchange rates. .
|
what was the increase in gross margin percentage between 2011 and 2012?
|
1.1
|
{
"answer": "1.1",
"decimal": 1.1,
"type": "float"
}
| |
off-balance sheet transactions contractual obligations as of december 31 , 2017 , our contractual obligations with initial or remaining terms in excess of one year , including interest payments on long-term debt obligations , were as follows ( in thousands ) : the table above does not include $ 0.5 million of unrecognized tax benefits ( we refer you to the notes to the consolidated financial statements note 201410 201cincome tax 201d ) .certain service providers may require collateral in the normal course of our business .the amount of collateral may change based on certain terms and conditions .as a routine part of our business , depending on market conditions , exchange rates , pricing and our strategy for growth , we regularly consider opportunities to enter into contracts for the building of additional ships .we may also consider the sale of ships , potential acquisitions and strategic alliances .if any of these transactions were to occur , they may be financed through the incurrence of additional permitted indebtedness , through cash flows from operations , or through the issuance of debt , equity or equity-related securities .funding sources certain of our debt agreements contain covenants that , among other things , require us to maintain a minimum level of liquidity , as well as limit our net funded debt-to-capital ratio , maintain certain other ratios and restrict our ability to pay dividends .substantially all of our ships and other property and equipment are pledged as collateral for certain of our debt .we believe we were in compliance with these covenants as of december 31 , 2017 .the impact of changes in world economies and especially the global credit markets can create a challenging environment and may reduce future consumer demand for cruises and adversely affect our counterparty credit risks .in the event this environment deteriorates , our business , financial condition and results of operations could be adversely impacted .we believe our cash on hand , expected future operating cash inflows , additional available borrowings under our new revolving loan facility and our ability to issue debt securities or additional equity securities , will be sufficient to fund operations , debt payment requirements , capital expenditures and maintain compliance with covenants under our debt agreements over the next twelve-month period .there is no assurance that cash flows from operations and additional financings will be available in the future to fund our future obligations .less than 1 year 1-3 years 3-5 years more than 5 years long-term debt ( 1 ) $ 6424582 $ 619373 $ 1248463 $ 3002931 $ 1553815 operating leases ( 2 ) 131791 15204 28973 26504 61110 ship construction contracts ( 3 ) 6138219 1016892 1363215 1141212 2616900 port facilities ( 4 ) 138308 30509 43388 23316 41095 interest ( 5 ) 947967 218150 376566 203099 150152 other ( 6 ) 168678 54800 73653 23870 16355 .
[['', 'total', 'less than1 year', '1-3 years', '3-5 years', 'more than5 years'], ['long-term debt ( 1 )', '$ 6424582', '$ 619373', '$ 1248463', '$ 3002931', '$ 1553815'], ['operating leases ( 2 )', '131791', '15204', '28973', '26504', '61110'], ['ship construction contracts ( 3 )', '6138219', '1016892', '1363215', '1141212', '2616900'], ['port facilities ( 4 )', '138308', '30509', '43388', '23316', '41095'], ['interest ( 5 )', '947967', '218150', '376566', '203099', '150152'], ['other ( 6 )', '168678', '54800', '73653', '23870', '16355'], ['total', '$ 13949545', '$ 1954928', '$ 3134258', '$ 4420932', '$ 4439427']]
( 1 ) includes discount and premiums aggregating $ 0.5 million .also includes capital leases .the amount excludes deferred financing fees which are included in the consolidated balance sheets as an offset to long-term debt .( 2 ) primarily for offices , motor vehicles and office equipment .( 3 ) for our newbuild ships based on the euro/u.s .dollar exchange rate as of december 31 , 2017 .export credit financing is in place from syndicates of banks .( 4 ) primarily for our usage of certain port facilities .( 5 ) includes fixed and variable rates with libor held constant as of december 31 , 2017 .( 6 ) future commitments for service , maintenance and other business enhancement capital expenditure contracts. .
|
what portion of the expected payments within the next 12 months is allocated to the repayment of long-term debt?
|
31.7%
|
{
"answer": "31.7%",
"decimal": 0.317,
"type": "percentage"
}
| |
likely than not that some portion or all of the deferred tax assets will not be realized .the accruals for deferred tax assets and liabilities are subject to a significant amount of judgment by management and are reviewed and adjusted routinely based on changes in facts and circumstances .material changes in these accruals may occur in the future , based on the progress of ongoing tax audits , changes in legislation and resolution of pending tax matters .forward-looking estimates we are providing our 2011 forward-looking estimates in this section .these estimates were based on our examination of historical operating trends , the information used to prepare our december 31 , 2010 , reserve reports and other data in our possession or available from third parties .the forward-looking estimates in this report were prepared assuming demand , curtailment , producibility and general market conditions for our oil , gas and ngls during 2011 will be similar to 2010 , unless otherwise noted .we make reference to the 201cdisclosure regarding forward-looking statements 201d at the beginning of this report .amounts related to our canadian operations have been converted to u.s .dollars using an estimated average 2011 exchange rate of $ 0.95 dollar to $ 1.00 canadian dollar .during 2011 , our operations are substantially comprised of our ongoing north america onshore operations .we also have international operations in brazil and angola that we are divesting .we have entered into agreements to sell our assets in brazil for $ 3.2 billion and our assets in angola for $ 70 million , plus contingent consideration .as a result of these divestitures , all revenues , expenses and capital related to our international operations are reported as discontinued operations in our financial statements .additionally , all forward-looking estimates in this document exclude amounts related to our international operations , unless otherwise noted .north america onshore operating items the following 2011 estimates relate only to our north america onshore assets .oil , gas and ngl production set forth below are our estimates of oil , gas and ngl production for 2011 .we estimate that our combined oil , gas and ngl production will total approximately 236 to 240 mmboe .( mmbbls ) ( mmbbls ) ( mmboe ) .
[['', 'oil ( mmbbls )', 'gas ( bcf )', 'ngls ( mmbbls )', 'total ( mmboe )'], ['u.s . onshore', '17', '736', '34', '174'], ['canada', '28', '199', '3', '64'], ['north america onshore', '45', '935', '37', '238']]
oil and gas prices we expect our 2011 average prices for the oil and gas production from each of our operating areas to differ from the nymex price as set forth in the following table .the expected ranges for prices are exclusive of the anticipated effects of the financial contracts presented in the 201ccommodity price risk management 201d section below .the nymex price for oil is determined using the monthly average of settled prices on each trading day for benchmark west texas intermediate crude oil delivered at cushing , oklahoma .the nymex price for gas is determined using the first-of-month south louisiana henry hub price index as published monthly in inside .
|
what percentage of total mmboe have come from canada?
|
26.89%
|
{
"answer": "26.89%",
"decimal": 0.26890000000000003,
"type": "percentage"
}
| |
disclosure of , the issuance of certain types of guarantees .the adoption of fasb interpretation no .45 did not have a signif- icant impact on the net income or equity of the company .in january 2003 , fasb interpretation no .46 , 201cconsolidation of variable interest entities , an interpretation of arb 51 , 201d was issued .the primary objectives of this interpretation , as amended , are to provide guidance on the identification and consolidation of variable interest entities , or vies , which are entities for which control is achieved through means other than through voting rights .the company has completed an analysis of this interpretation and has determined that it does not have any vies .4 .acquisitions family health plan , inc .effective january 1 , 2004 , the company commenced opera- tions in ohio through the acquisition from family health plan , inc .of certain medicaid-related assets for a purchase price of approximately $ 6800 .the cost to acquire the medicaid-related assets will be allocated to the assets acquired and liabilities assumed according to estimated fair values .hmo blue texas effective august 1 , 2003 , the company acquired certain medicaid-related contract rights of hmo blue texas in the san antonio , texas market for $ 1045 .the purchase price was allocated to acquired contracts , which are being amor- tized on a straight-line basis over a period of five years , the expected period of benefit .group practice affiliates during 2003 , the company acquired a 100% ( 100 % ) ownership interest in group practice affiliates , llc , a behavioral healthcare services company ( 63.7% ( 63.7 % ) in march 2003 and 36.3% ( 36.3 % ) in august 2003 ) .the consolidated financial state- ments include the results of operations of gpa since march 1 , 2003 .the company paid $ 1800 for its purchase of gpa .the cost to acquire the ownership interest has been allocated to the assets acquired and liabilities assumed according to estimated fair values and is subject to adjustment when additional information concerning asset and liability valuations are finalized .the preliminary allocation has resulted in goodwill of approximately $ 3895 .the goodwill is not amortized and is not deductible for tax purposes .pro forma disclosures related to the acquisition have been excluded as immaterial .scriptassist in march 2003 , the company purchased contract and name rights of scriptassist , llc ( scriptassist ) , a medication com- pliance company .the purchase price of $ 563 was allocated to acquired contracts , which are being amortized on a straight-line basis over a period of five years , the expected period of benefit .the investor group who held membership interests in scriptassist included one of the company 2019s executive officers .university health plans , inc .on december 1 , 2002 , the company purchased 80% ( 80 % ) of the outstanding capital stock of university health plans , inc .( uhp ) in new jersey .in october 2003 , the company exercised its option to purchase the remaining 20% ( 20 % ) of the outstanding capital stock .centene paid a total purchase price of $ 13258 .the results of operations for uhp are included in the consolidated financial statements since december 1 , 2002 .the acquisition of uhp resulted in identified intangible assets of $ 3800 , representing purchased contract rights and provider network .the intangibles are being amortized over a ten-year period .goodwill of $ 7940 is not amortized and is not deductible for tax purposes .changes during 2003 to the preliminary purchase price allocation primarily consisted of the purchase of the remaining 20% ( 20 % ) of the outstanding stock and the recognition of intangible assets and related deferred tax liabilities .the following unaudited pro forma information presents the results of operations of centene and subsidiaries as if the uhp acquisition described above had occurred as of january 1 , 2001 .these pro forma results may not necessar- ily reflect the actual results of operations that would have been achieved , nor are they necessarily indicative of future results of operations. .
[['', '2002', '2001'], ['revenue', '$ 567048', '$ 395155'], ['net earnings', '25869', '11573'], ['diluted earnings per common share', '1.48', '1.00']]
diluted earnings per common share 1.48 1.00 texas universities health plan in june 2002 , the company purchased schip contracts in three texas service areas .the cash purchase price of $ 595 was recorded as purchased contract rights , which are being amortized on a straight-line basis over five years , the expected period of benefit .bankers reserve in march 2002 , the company acquired bankers reserve life insurance company of wisconsin for a cash purchase price of $ 3527 .the company allocated the purchase price to net tangible and identifiable intangible assets based on their fair value .centene allocated $ 479 to identifiable intangible assets , representing the value assigned to acquired licenses , which are being amortized on a straight-line basis over a notes to consolidated financial statements ( continued ) centene corporation and subsidiaries .
|
what was the percentage change in pro forma revenue from 2001 to 2002?
|
44%
|
{
"answer": "44%",
"decimal": 0.44,
"type": "percentage"
}
| |
stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , news corporation class a common stock , scripps network interactive , inc. , time warner , inc. , viacom , inc .class b common stock and the walt disney company .the graph assumes $ 100 originally invested on september 18 , 2008 , the date upon which our common stock began trading , 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 period september 18 , 2008 through december 31 , 2008 and the years ended december 31 , 2009 , 2010 , 2011 , and 2012 .december 31 , december 31 , december 31 , december 31 , december 31 .
[['', 'december 312008', 'december 312009', 'december 312010', 'december 312011', 'december 312012'], ['disca', '$ 102.53', '$ 222.09', '$ 301.96', '$ 296.67', '$ 459.67'], ['discb', '$ 78.53', '$ 162.82', '$ 225.95', '$ 217.56', '$ 327.11'], ['disck', '$ 83.69', '$ 165.75', '$ 229.31', '$ 235.63', '$ 365.63'], ['s&p 500', '$ 74.86', '$ 92.42', '$ 104.24', '$ 104.23', '$ 118.21'], ['peer group', '$ 68.79', '$ 100.70', '$ 121.35', '$ 138.19', '$ 190.58']]
equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2013 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 5 year average total return for the a and c series of stock?\\n\\n\\n
|
326.37
|
{
"answer": "326.37",
"decimal": 326.37,
"type": "float"
}
| |
table of contents interest expense , net of capitalized interest increased $ 64 million , or 9.8% ( 9.8 % ) , to $ 710 million in 2013 from $ 646 million in 2012 primarily due to special charges of $ 92 million to recognize post-petition interest expense on unsecured obligations pursuant to the plan and penalty interest related to 10.5% ( 10.5 % ) secured notes and 7.50% ( 7.50 % ) senior secured notes .other nonoperating expense , net of $ 84 million in 2013 consists principally of net foreign currency losses of $ 55 million and early debt extinguishment charges of $ 48 million .other nonoperating income in 2012 consisted principally of a $ 280 million special credit related to the settlement of a commercial dispute partially offset by net foreign currency losses .reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases .the following table summarizes the components included in reorganization items , net on american 2019s consolidated statements of operations for the years ended december 31 , 2013 and 2012 ( in millions ) : .
[['', '2013', '2012'], ['pension and postretirement benefits', '$ 2014', '$ -66 ( 66 )'], ['labor-related deemed claim ( 1 )', '1733', '2014'], ['aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )', '320', '1951'], ['fair value of conversion discount ( 4 )', '218', '2014'], ['professional fees', '199', '227'], ['other', '170', '67'], ['total reorganization items net', '$ 2640', '$ 2179']]
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees .each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes .the total value of this deemed claim was approximately $ 1.7 billion .( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds .the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify such financing or facility agreement and the debtors believed that it was probable the motion would be approved , and there was sufficient information to estimate the claim .see note 2 to american 2019s consolidated financial statements in part ii , item 8b for further information .( 3 ) pursuant to the plan , the debtors agreed to allow certain post-petition unsecured claims on obligations .as a result , during the year ended december 31 , 2013 , american recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $ 180 million , allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at jfk , and rejected bonds that financed certain improvements at ord , which are included in the table above .( 4 ) the plan allowed unsecured creditors receiving aag series a preferred stock a conversion discount of 3.5% ( 3.5 % ) .accordingly , american recorded the fair value of such discount upon the confirmation of the plan by the bankruptcy court. .
|
by how much did total reorganization items net increase from 2012 to 2013?
|
21.2%
|
{
"answer": "21.2%",
"decimal": 0.212,
"type": "percentage"
}
| |
year ended december 31 , 2004 compared to year ended december 31 , 2003 the historical results of operations of pca for the years ended december 31 , 2004 and 2003 are set forth below : for the year ended december 31 , ( in millions ) 2004 2003 change .
[['( in millions )', 'for the year ended december 31 , 2004', 'for the year ended december 31 , 2003', 'change'], ['net sales', '$ 1890.1', '$ 1735.5', '$ 154.6'], ['income before interest and taxes', '$ 140.5', '$ 96.9', '$ 43.6'], ['interest expense net', '-29.6 ( 29.6 )', '-121.8 ( 121.8 )', '92.2'], ['income ( loss ) before taxes', '110.9', '-24.9 ( 24.9 )', '135.8'], ['( provision ) benefit for income taxes', '-42.2 ( 42.2 )', '10.5', '-52.7 ( 52.7 )'], ['net income ( loss )', '$ 68.7', '$ -14.4 ( 14.4 )', '$ 83.1']]
net sales net sales increased by $ 154.6 million , or 8.9% ( 8.9 % ) , for the year ended december 31 , 2004 from the year ended december 31 , 2003 .net sales increased due to improved sales volumes and prices of corrugated products and containerboard compared to 2003 .total corrugated products volume sold increased 6.6% ( 6.6 % ) to 29.9 billion square feet in 2004 compared to 28.1 billion square feet in 2003 .on a comparable shipment-per-workday basis , corrugated products sales volume increased 7.0% ( 7.0 % ) in 2004 from 2003 .excluding pca 2019s acquisition of acorn in february 2004 , corrugated products volume was 5.3% ( 5.3 % ) higher in 2004 than 2003 and up 5.8% ( 5.8 % ) compared to 2003 on a shipment-per-workday basis .shipments-per-workday is calculated by dividing our total corrugated products volume during the year by the number of workdays within the year .the larger percentage increase was due to the fact that 2004 had one less workday ( 251 days ) , those days not falling on a weekend or holiday , than 2003 ( 252 days ) .containerboard sales volume to external domestic and export customers increased 6.8% ( 6.8 % ) to 475000 tons for the year ended december 31 , 2004 from 445000 tons in 2003 .income before interest and taxes income before interest and taxes increased by $ 43.6 million , or 45.1% ( 45.1 % ) , for the year ended december 31 , 2004 compared to 2003 .included in income before interest and taxes for the year ended december 31 , 2004 is income of $ 27.8 million , net of expenses , attributable to a dividend paid to pca by stv , the timberlands joint venture in which pca owns a 311 20443% ( 20443 % ) ownership interest .included in income before interest and taxes for the year ended december 31 , 2003 is a $ 3.3 million charge for fees and expenses related to the company 2019s debt refinancing which was completed in july 2003 , and a fourth quarter charge of $ 16.0 million to settle certain benefits related matters with pactiv corporation dating back to april 12 , 1999 when pca became a stand-alone company , as described below .during the fourth quarter of 2003 , pactiv notified pca that we owed pactiv additional amounts for hourly pension benefits and workers 2019 compensation liabilities dating back to april 12 , 1999 .a settlement of $ 16.0 million was negotiated between pactiv and pca in december 2003 .the full amount of the settlement was accrued in the fourth quarter of 2003 .excluding these special items , operating income decreased $ 3.4 million in 2004 compared to 2003 .the $ 3.4 million decrease in income before interest and taxes was primarily attributable to increased energy and transportation costs ( $ 19.2 million ) , higher recycled and wood fiber costs ( $ 16.7 million ) , increased salary expenses related to annual increases and new hires ( $ 5.7 million ) , and increased contractual hourly labor costs ( $ 5.6 million ) , which was partially offset by increased sales volume and sales prices ( $ 44.3 million ) . .
|
what were operating expenses in 2003?
|
1638.6
|
{
"answer": "1638.6",
"decimal": 1638.6,
"type": "float"
}
| |
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 was the ratio of net long-term deferred tax liabilities in 2010 compared to 2009
|
1.03
|
{
"answer": "1.03",
"decimal": 1.03,
"type": "float"
}
| |
hollyfrontier corporation notes to consolidated financial statements continued .
[['', '( in thousands )'], ['2018', '$ 148716'], ['2019', '132547'], ['2020', '119639'], ['2021', '107400'], ['2022', '102884'], ['thereafter', '857454'], ['total', '$ 1468640']]
transportation and storage costs incurred under these agreements totaled $ 140.5 million , $ 135.1 million and $ 137.7 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .these amounts do not include contractual commitments under our long-term transportation agreements with hep , as all transactions with hep are eliminated in these consolidated financial statements .we have a crude oil supply contract that requires the supplier to deliver a specified volume of crude oil or pay a shortfall fee for the difference in the actual barrels delivered to us less the specified barrels per the supply contract .for the contract year ended august 31 , 2017 , the actual number of barrels delivered to us was substantially less than the specified barrels , and we recorded a reduction to cost of goods sold and accumulated a shortfall fee receivable of $ 26.0 million during this period .in september 2017 , the supplier notified us they are disputing the shortfall fee owed and in october 2017 notified us of their demand for arbitration .we offset the receivable with payments of invoices for deliveries of crude oil received subsequent to august 31 , 2017 , which is permitted under the supply contract .we believe the disputes and claims made by the supplier are without merit .in march , 2006 , a subsidiary of ours sold the assets of montana refining company under an asset purchase agreement ( 201capa 201d ) .calumet montana refining llc , the current owner of the assets , has submitted requests for reimbursement of approximately $ 20.0 million pursuant to contractual indemnity provisions under the apa for various costs incurred , as well as additional claims related to environmental matters .we have rejected most of the claims for payment , and this matter is scheduled for arbitration beginning in july 2018 .we have accrued the costs we believe are owed pursuant to the apa , and we estimate that any reasonably possible losses beyond the amounts accrued are not material .note 20 : segment information effective fourth quarter of 2017 , we revised our reportable segments to align with certain changes in how our chief operating decision maker manages and allocates resources to our business .accordingly , our tulsa refineries 2019 lubricants operations , previously reported in the refining segment , are now combined with the operations of our petro-canada lubricants business ( acquired february 1 , 2017 ) and reported in the lubricants and specialty products segment .our prior period segment information has been retrospectively adjusted to reflect our current segment presentation .our operations are organized into three reportable segments , refining , lubricants and specialty products and hep .our operations that are not included in the refining , lubricants and specialty products and hep segments are included in corporate and other .intersegment transactions are eliminated in our consolidated financial statements and are included in eliminations .corporate and other and eliminations are aggregated and presented under corporate , other and eliminations column .the refining segment represents the operations of the el dorado , tulsa , navajo , cheyenne and woods cross refineries and hfc asphalt ( aggregated as a reportable segment ) .refining activities involve the purchase and refining of crude oil and wholesale and branded marketing of refined products , such as gasoline , diesel fuel and jet fuel .these petroleum products are primarily marketed in the mid-continent , southwest and rocky mountain regions of the united states .hfc asphalt operates various asphalt terminals in arizona , new mexico and oklahoma. .
|
what percentage of total costs occurred after 2022?
|
58.38%
|
{
"answer": "58.38%",
"decimal": 0.5838,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) other debt repurchases 2014during the year ended december 31 , 2004 , in addition to the redemptions discussed above , the company repurchased in privately negotiated transactions an aggregate of $ 309.7 million face amount of its ati 12.25% ( 12.25 % ) notes ( $ 179.4 million accreted value , net of $ 14.7 million fair value allocated to warrants ) for approximately $ 230.9 million in cash ; repurchased $ 112.1 million principal amount of its 93 20448% ( 20448 % ) notes for $ 118.9 million in cash ; and repurchased $ 73.7 million principal amount of its 5.0% ( 5.0 % ) notes for approximately $ 73.3 million in cash .as a consequence of these transactions , the company recorded an aggregate charge of $ 66.4 million related to the write-off of deferred financing fees and amounts paid in excess of carrying value .such loss is reflected in loss on retirement of long-term obligations in the accompanying condensed consolidated statement of operations for the year ended december 31 , 2004 .2.25% ( 2.25 % ) convertible notes repurchases 2014during the year ended december 31 , 2003 , the company repurchased an aggregate of $ 215.0 million accreted value ( $ 269.8 million face value ) of its 2.25% ( 2.25 % ) notes in exchange for an aggregate of 8415984 shares of class a common stock and $ 166.4 million in cash , including $ 84.2 million accreted value ( $ 104.9 million face amount ) of 2.25% ( 2.25 % ) notes repurchased in the company 2019s cash tender offer in october 2003 .the shares issued to noteholders included an aggregate of 6440636 shares of class a common stock issued to such holders in addition to the amounts issuable upon conversion of those notes as provided in the applicable indentures .the company made these repurchases pursuant to negotiated transactions with a limited number of note holders .as a consequence of these transactions , the company recorded charges of approximately $ 41.4 million during the year ended december 31 , 2003 , which primarily represent the fair market value of the shares of stock issued to the note holders in excess of the number of shares originally issuable upon conversion of the notes , as well as cash paid in excess of the related debt retired .these charges are included in loss on retirement of long-term obligations in the accompanying consolidated statement of operations for the year ended december 31 , 2003 .capital lease obligations and notes payable 2014the company 2019s capital lease obligations and notes payable approximated $ 60.0 million and $ 58.7 million as of december 31 , 2004 and 2003 , respectively .these obligations bear interest at rates ranging from 7.9% ( 7.9 % ) to 12.0% ( 12.0 % ) and mature in periods ranging from less than one year to approximately seventy years .maturities 2014as of december 31 , 2004 , aggregate principal payments of long-term debt , including capital leases , for the next five years and thereafter are estimated to be ( in thousands ) : year ending december 31 .
[['2005', '$ 138386'], ['2006', '42498'], ['2007', '332241'], ['2008', '561852'], ['2009', '205402'], ['thereafter', '2206476'], ['total cash obligations', '3486855'], ['accreted value of original issue discount of the ati 12.25% ( 12.25 % ) notes', '-172909 ( 172909 )'], ['accreted value of the related warrants', '-21588 ( 21588 )'], ['accreted value of the discount and premium of 3.00% ( 3.00 % ) notes and 7.125% ( 7.125 % ) notes', '1256'], ['balance as of december 31 2004', '$ 3293614']]
the holders of the company 2019s 5.0% ( 5.0 % ) notes have the right to require the company to repurchase their notes on specified dates prior to the maturity date in 2010 , but the company may pay the purchase price by issuing shares of class a common stock , subject to certain conditions .obligations with respect to the right of the holders to put the 5.0% ( 5.0 % ) notes have been included in the table above as if such notes mature the date on which the put rights become exercisable in 2007. .
|
what percentage of total cash obligations are due in 2005?
|
4%
|
{
"answer": "4%",
"decimal": 0.04,
"type": "percentage"
}
| |
a reconciliation of the beginning and ending amount of unrecognized tax benefits , for the periods indicated , is as follows: .
[['( dollars in thousands )', '2010', '2009', '2008'], ['balance at january 1', '$ 29010', '$ 34366', '$ 29132'], ['additions based on tax positions related to the current year', '7119', '6997', '5234'], ['additions for tax positions of prior years', '-', '-', '-'], ['reductions for tax positions of prior years', '-', '-', '-'], ['settlements with taxing authorities', '-12356 ( 12356 )', '-12353 ( 12353 )', '-'], ['lapses of applicable statutes of limitations', '-', '-', '-'], ['balance at december 31', '$ 23773', '$ 29010', '$ 34366']]
the entire amount of the unrecognized tax benefits would affect the effective tax rate if recognized .in 2010 , the company favorably settled a 2003 and 2004 irs audit .the company recorded a net overall tax benefit including accrued interest of $ 25920 thousand .in addition , the company was also able to take down a $ 12356 thousand fin 48 reserve that had been established regarding the 2003 and 2004 irs audit .the company is no longer subject to u.s .federal , state and local or foreign income tax examinations by tax authorities for years before 2007 .the company recognizes accrued interest related to net unrecognized tax benefits and penalties in income taxes .during the years ended december 31 , 2010 , 2009 and 2008 , the company accrued and recognized a net expense ( benefit ) of approximately $ ( 9938 ) thousand , $ 1563 thousand and $ 2446 thousand , respectively , in interest and penalties .included within the 2010 net expense ( benefit ) of $ ( 9938 ) thousand is $ ( 10591 ) thousand of accrued interest related to the 2003 and 2004 irs audit .the company is not aware of any positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within twelve months of the reporting date .for u.s .income tax purposes the company has foreign tax credit carryforwards of $ 55026 thousand that begin to expire in 2014 .in addition , for u.s .income tax purposes the company has $ 41693 thousand of alternative minimum tax credits that do not expire .management believes that it is more likely than not that the company will realize the benefits of its net deferred tax assets and , accordingly , no valuation allowance has been recorded for the periods presented .tax benefits of $ 629 thousand and $ 1714 thousand related to share-based compensation deductions for stock options exercised in 2010 and 2009 , respectively , are included within additional paid-in capital of the shareholders 2019 equity section of the consolidated balance sheets. .
|
between 2008 and 2010 what was the ratio of the company accrued and recognized a net benefit to expenses
|
2.48
|
{
"answer": "2.48",
"decimal": 2.48,
"type": "float"
}
| |
apple inc .| 2017 form 10-k | 20 company stock performance the following graph shows a comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the s&p information technology index and the dow jones u.s .technology supersector index for the five years ended september 30 , 2017 .the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p information technology index and the dow jones u.s .technology supersector index as of the market close on september 28 , 2012 .note that historic stock price performance is not necessarily indicative of future stock price performance .* $ 100 invested on 9/28/12 in stock or index , including reinvestment of dividends .data points are the last day of each fiscal year for the company 2019s common stock and september 30th for indexes .copyright a9 2017 s&p , a division of mcgraw hill financial .all rights reserved .copyright a9 2017 dow jones & co .all rights reserved .september september september september september september .
[['', 'september2012', 'september2013', 'september2014', 'september2015', 'september2016', 'september2017'], ['apple inc .', '$ 100', '$ 74', '$ 111', '$ 128', '$ 129', '$ 179'], ['s&p 500 index', '$ 100', '$ 119', '$ 143', '$ 142', '$ 164', '$ 194'], ['s&p information technology index', '$ 100', '$ 107', '$ 138', '$ 141', '$ 173', '$ 223'], ['dow jones u.s . technology supersector index', '$ 100', '$ 105', '$ 137', '$ 137', '$ 167', '$ 214']]
.
|
what was the change in the apple stock return between 2016 and 2017?
|
50
|
{
"answer": "50",
"decimal": 50,
"type": "float"
}
| |
eog resources , inc .supplemental information to consolidated financial statements ( continued ) capitalized costs relating to oil and gas producing activities .the following table sets forth the capitalized costs relating to eog's crude oil and natural gas producing activities at december 31 , 2018 and 2017: .
[['', '2018', '2017'], ['proved properties', '$ 53624809', '$ 48845672'], ['unproved properties', '3705207', '3710069'], ['total', '57330016', '52555741'], ['accumulated depreciation depletion and amortization', '-31674085 ( 31674085 )', '-29191247 ( 29191247 )'], ['net capitalized costs', '$ 25655931', '$ 23364494']]
costs incurred in oil and gas property acquisition , exploration and development activities .the acquisition , exploration and development costs disclosed in the following tables are in accordance with definitions in the extractive industries - oil and gas topic of the accounting standards codification ( asc ) .acquisition costs include costs incurred to purchase , lease or otherwise acquire property .exploration costs include additions to exploratory wells , including those in progress , and exploration expenses .development costs include additions to production facilities and equipment and additions to development wells , including those in progress. .
|
what is the variation observed in the accumulated depreciation depletion and amortization between 2017 and 2018?
|
2482811
|
{
"answer": "2482811",
"decimal": 2482811,
"type": "float"
}
|
it is the difference between the accumulated depreciation depletion and amortization of these years .
|
2000 non-employee director stock option plan ( the 201cdirector stock option plan 201d ) , and the global payments inc .2011 incentive plan ( the 201c2011 plan 201d ) ( collectively , the 201cplans 201d ) .we made no further grants under the 2000 plan after the 2005 plan was effective , and the director stock option plan expired by its terms on february 1 , 2011 .we will make no future grants under the 2000 plan , the 2005 plan or the director stock option plan .the 2011 plan permits grants of equity to employees , officers , directors and consultants .a total of 14.0 million shares of our common stock was reserved and made available for issuance pursuant to awards granted under the 2011 plan .the following table summarizes share-based compensation expense and the related income tax benefit recognized for our share-based awards and stock options ( in thousands ) : 2016 2015 2014 ( in thousands ) .
[['', '2016', '2015 ( in thousands )', '2014'], ['share-based compensation expense', '$ 30809', '$ 21056', '$ 29793'], ['income tax benefit', '$ 9879', '$ 6907', '$ 7126']]
we grant various share-based awards pursuant to the plans under what we refer to as our 201clong-term incentive plan . 201d the awards are held in escrow and released upon the grantee 2019s satisfaction of conditions of the award certificate .restricted stock restricted stock awards vest over a period of time , provided , however , that if the grantee is not employed by us on the vesting date , the shares are forfeited .restricted shares cannot be sold or transferred until they have vested .restricted stock granted before fiscal 2015 vests in equal installments on each of the first four anniversaries of the grant date .restricted stock granted during fiscal 2015 and thereafter either vest in equal installments on each of the first three anniversaries of the grant date or cliff vest at the end of a three-year service period .the grant date fair value of restricted stock , which is based on the quoted market value of our common stock at the closing of the award date , is recognized as share-based compensation expense on a straight-line basis over the vesting period .performance units certain of our executives have been granted performance units under our long-term incentive plan .performance units are performance-based restricted stock units that , after a performance period , convert into common shares , which may be restricted .the number of shares is dependent upon the achievement of certain performance measures during the performance period .the target number of performance units and any market-based performance measures ( 201cat threshold , 201d 201ctarget , 201d and 201cmaximum 201d ) are set by the compensation committee of our board of directors .performance units are converted only after the compensation committee certifies performance based on pre-established goals .the performance units granted to certain executives in fiscal 2014 were based on a one-year performance period .after the compensation committee certified the performance results , 25% ( 25 % ) of the performance units converted to unrestricted shares .the remaining 75% ( 75 % ) converted to restricted shares that vest in equal installments on each of the first three anniversaries of the conversion date .the performance units granted to certain executives during fiscal 2015 and fiscal 2016 were based on a three-year performance period .after the compensation committee certifies the performance results for the three-year period , performance units earned will convert into unrestricted common stock .the compensation committee may set a range of possible performance-based outcomes for performance units .depending on the achievement of the performance measures , the grantee may earn up to 200% ( 200 % ) of the target number of shares .for awards with only performance conditions , we recognize compensation expense on a straight-line basis over the performance period using the grant date fair value of the award , which is based on the number of shares expected to be earned according to the level of achievement of performance goals .if the number of shares expected to be earned were to change at any time during the performance period , we would make a cumulative adjustment to share-based compensation expense based on the revised number of shares expected to be earned .global payments inc .| 2016 form 10-k annual report 2013 83 .
|
how much percent did the income tax benefit increase from 2014 to 2016?
|
increased 38.6%
|
{
"answer": "increased 38.6%",
"decimal": 0.386,
"type": "percentage"
}
|
the tax benefit increased 38.6% , one can find this by subtracting 2016 by 2014 tax benefits . then taking the answer and dividing it by 2014 tax benefits .
|
holders of grupo gondi manage the joint venture and we provide technical and commercial resources .we believe the joint venture is helping us to grow our presence in the attractive mexican market .we have included the financial results of the joint venture in our corrugated packaging segment since the date of formation .we are accounting for the investment on the equity method .on january 19 , 2016 , we completed the packaging acquisition .the entities acquired provide value-added folding carton and litho-laminated display packaging solutions .we believe the transaction has provided us with attractive and complementary customers , markets and facilities .we have included the financial results of the acquired entities in our consumer packaging segment since the date of the acquisition .on october 1 , 2015 , we completed the sp fiber acquisition .the transaction included the acquisition of mills located in dublin , ga and newberg , or , which produce lightweight recycled containerboard and kraft and bag paper .the newberg mill also produced newsprint .as part of the transaction , we also acquired sp fiber's 48% ( 48 % ) interest in green power solutions of georgia , llc ( fffdgps fffd ) , which we consolidate .gps is a joint venture providing steam to the dublin mill and electricity to georgia power .subsequent to the transaction , we announced the permanent closure of the newberg mill due to the decline in market conditions of the newsprint business and our need to balance supply and demand in our containerboard system .we have included the financial results of the acquired entities in our corrugated packaging segment since the date of the acquisition .see fffdnote 2 .mergers , acquisitions and investment fffdtt of the notes to consolidated financial statements for additional information .see also item 1a .fffdrisk factors fffd fffdwe may be unsuccessful in making and integrating mergers , acquisitions and investments and completing divestitures fffd .business .
[['( in millions )', 'year ended september 30 , 2018', 'year ended september 30 , 2017', 'year ended september 30 , 2016'], ['net sales', '$ 16285.1', '$ 14859.7', '$ 14171.8'], ['segment income', '$ 1685.0', '$ 1193.5', '$ 1226.2']]
in fiscal 2018 , we continued to pursue our strategy of offering differentiated paper and packaging solutions that help our customers win .we successfully executed this strategy in fiscal 2018 in a rapidly changing cost and price environment .net sales of $ 16285.1 million for fiscal 2018 increased $ 1425.4 million , or 9.6% ( 9.6 % ) , compared to fiscal 2017 .the increase was primarily a result of an increase in corrugated packaging segment sales , driven by higher selling price/mix and the contributions from acquisitions , and increased consumer packaging segment sales , primarily due to the contribution from acquisitions ( primarily the mps acquisition ) .these increases were partially offset by the absence of net sales from hh&b in fiscal 2018 due to the sale of hh&b in april 2017 and lower land and development segment sales compared to the prior year period due to the timing of real estate sales as we monetize the portfolio and lower merchandising display sales in the consumer packaging segment .segment income increased $ 491.5 million in fiscal 2018 compared to fiscal 2017 , primarily due to increased corrugated packaging segment income .with respect to segment income , we experienced higher levels of cost inflation during fiscal 2018 as compared to fiscal 2017 , which was partially offset by recycled fiber deflation .the primary inflationary items were freight costs , chemical costs , virgin fiber costs and wage and other costs .productivity improvements in fiscal 2018 more than offset the net impact of cost inflation .while it is difficult to predict specific inflationary items , we expect higher cost inflation to continue through fiscal 2019 .our corrugated packaging segment increased its net sales by $ 695.1 million in fiscal 2018 to $ 9103.4 million from $ 8408.3 million in fiscal 2017 .the increase in net sales was primarily due to higher corrugated selling price/mix and higher corrugated volumes ( including acquisitions ) , which were partially offset by lower net sales from recycling operations due to lower recycled fiber costs , lower sales related to the deconsolidation of a foreign joint venture in fiscal 2017 and the impact of foreign currency .north american box shipments increased 4.1% ( 4.1 % ) on a per day basis in fiscal 2018 compared to fiscal 2017 .segment income attributable to the corrugated packaging segment in fiscal 2018 increased $ 454.0 million to $ 1207.9 million compared to $ 753.9 million in fiscal 2017 .the increase was primarily due to higher selling price/mix , lower recycled fiber costs and productivity improvements which were partially offset by higher levels of cost inflation and other items , including increased depreciation and amortization .our consumer packaging segment increased its net sales by $ 838.9 million in fiscal 2018 to $ 7291.4 million from $ 6452.5 million in fiscal 2017 .the increase in net sales was primarily due to an increase in net sales from acquisitions ( primarily the mps acquisition ) and higher selling price/mix partially offset by the absence of net sales from hh&b in fiscal 2018 due to the hh&b sale in april 2017 and lower volumes .segment income attributable to .
|
what was the percentage growth in the consumer packaging segment net sales in 2018 from 2017 by $ million in fiscal 2018 to $ 7291.4 million from $ million in fiscal 2017 .
|
13.0%
|
{
"answer": "13.0%",
"decimal": 0.13,
"type": "percentage"
}
| |
visa inc .notes to consolidated financial statements 2014 ( continued ) september 30 , 2008 ( in millions , except as noted ) require the company to redeem all class c ( series ii ) common stock at any time after december 4 , 2008 .therefore , in march 2008 , the company reclassified all class c ( series ii ) common stock at its then fair value of $ 1.125 billion to temporary equity on the company 2019s consolidated balance sheet with a corresponding reduction in additional paid-in-capital of $ 1.104 billion and accumulated income ( deficit ) of $ 21 million .the company accreted this stock to its redemption price of $ 1.146 billion , adjusted for dividends and certain other adjustments , on a straight-line basis , from march 2008 to october 2008 through accumulated income .see note 4 2014visa europe for a roll-forward of the balance of class c ( series ii ) common stock .the following table sets forth the number of shares of common stock issued and outstanding by class at september 30 , 2008 and the impact of the october 2008 redemptions and subsequent conversion of the remaining outstanding shares of class c ( series iii and series iv ) to class c ( series i ) shares and the number of shares of common stock issued and outstanding after the october 2008 redemptions in total and on as converted basis : shares issued and outstanding september 30 , october 2008 redemptions conversion to class c ( series i ) following immediate conversion to class c ( series i ) converted post october redemptions .
[['shares issued and outstanding', 'at september 30 2008', 'october 2008 redemptions', 'conversion to class c ( series i )', 'following immediate conversion to class c ( series i )', 'as converted post october 2008 redemptions'], ['class a common stock', '447746261', '2014', '2014', '447746261', '447746261'], ['class b common stock ( 1 )', '245513385', '2014', '2014', '245513385', '175367482'], ['class c ( series i ) common stock', '124097105', '2014', '27499203', '151596308', '151596308'], ['class c ( series ii ) common stock', '79748857', '-79748857 ( 79748857 )', '2014', '2014', '2014'], ['class c ( series iii ) common stock', '62213201', '-35263585 ( 35263585 )', '-26949616 ( 26949616 )', '2014', '2014'], ['class c ( series iv ) common stock', '549587', '2014', '-549587 ( 549587 )', '2014', '2014'], ['total shares issued and outstanding', '959868396', '-115012442 ( 115012442 )', '2014', '844855954', '774710051']]
( 1 ) all voting and dividend payment rights are based on the number of shares held multiplied by the applicable conversion rate in effect on the record date , as discussed below .subsequent to the ipo and as a result of the initial funding of the litigation escrow account , the conversion rate applicable to class b common stock was approximately 0.71 shares of class a common stock for each share of class b common stock .special ipo cash and stock dividends received from cost method investees , net of tax several of the company 2019s cost method investees are also holders of class c ( series i ) common stock and therefore participated in the initial share redemption in march 2008 .certain of these investees elected to declare a special cash dividend to return to their owners on a pro rata basis , the proceeds received as a result of the redemption of a portion of their class c ( series i ) common stock .the dividends represent the return of redemption proceeds .as a result of the company 2019s ownership interest in these cost method investees , the company received approximately $ 21 million of special dividends from these investees during the third fiscal quarter and recorded a receivable of $ 8 million in prepaid and other assets on its consolidated balance sheet at september 30 , 2008 for a dividend declared by these investees during the fourth fiscal quarter .in addition , another investee elected to distribute its entire ownership in the company 2019s class c ( series i ) common stock through the distribution of these shares to its investors on a pro rata basis .as a result , the company received 525443 shares of its own class c ( series i ) common stock during the fourth fiscal quarter and recorded $ 35 million in treasury stock .the value of the treasury stock was calculated based on sales prices of other recent class c ( series i ) stock transactions by other class c .
|
what portion of the total shares issued and outstanding are class b common stock?
|
25.6%
|
{
"answer": "25.6%",
"decimal": 0.256,
"type": "percentage"
}
| |
( c ) includes the effects of items not considered in the assessment of the operating performance of our business segments which increased operating profit by $ 230 million , $ 150 million after tax ( $ 0.34 per share ) .also includes expenses of $ 16 million , $ 11 million after tax ( $ 0.03 per share ) for a debt exchange , and a reduction in income tax expense of $ 62 million ( $ 0.14 per share ) resulting from a tax benefit related to claims we filed for additional extraterritorial income exclusion ( eti ) tax benefits .on a combined basis , these items increased earnings by $ 201 million after tax ( $ 0.45 per share ) .( d ) includes the effects of items not considered in the assessment of the operating performance of our business segments which , on a combined basis , increased operating profit by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) .( e ) includes the effects of items not considered in the assessment of the operating performance of our business segments which decreased operating profit by $ 61 million , $ 54 million after tax ( $ 0.12 per share ) .also includes a charge of $ 154 million , $ 100 million after tax ( $ 0.22 per share ) for the early repayment of debt , and a reduction in income tax expense resulting from the closure of an internal revenue service examination of $ 144 million ( $ 0.32 per share ) .on a combined basis , these items reduced earnings by $ 10 million after tax ( $ 0.02 per share ) .( f ) includes the effects of items not considered in the assessment of the operating performance of our business segments which , on a combined basis , decreased operating profit by $ 7 million , $ 6 million after tax ( $ 0.01 per share ) .also includes a charge of $ 146 million , $ 96 million after tax ( $ 0.21 per share ) for the early repayment of debt .( g ) we define return on invested capital ( roic ) as net earnings plus after-tax interest expense divided by average invested capital ( stockholders 2019 equity plus debt ) , after adjusting stockholders 2019 equity by adding back adjustments related to postretirement benefit plans .we believe that reporting roic provides investors with greater visibility into how effectively we use the capital invested in our operations .we use roic to evaluate multi-year investment decisions and as a long-term performance measure , and also use it as a factor in evaluating management performance under certain of our incentive compensation plans .roic is not a measure of financial performance under generally accepted accounting principles , and may not be defined and calculated by other companies in the same manner .roic should not be considered in isolation or as an alternative to net earnings as an indicator of performance .we calculate roic as follows : ( in millions ) 2007 2006 2005 2004 2003 .
[['( in millions )', '2007', '2006', '2005', '2004', '2003'], ['net earnings', '$ 3033', '$ 2529', '$ 1825', '$ 1266', '$ 1053'], ['interest expense ( multiplied by 65% ( 65 % ) ) 1', '229', '235', '241', '276', '317'], ['return', '$ 3262', '$ 2764', '$ 2066', '$ 1542', '$ 1370'], ['average debt2 5', '$ 4416', '$ 4727', '$ 5077', '$ 5932', '$ 6612'], ['average equity3 5', '7661', '7686', '7590', '7015', '6170'], ['average benefit plan adjustments3 4 5', '3171', '2006', '1545', '1296', '1504'], ['average invested capital', '$ 15248', '$ 14419', '$ 14212', '$ 14243', '$ 14286'], ['return on invested capital', '21.4% ( 21.4 % )', '19.2% ( 19.2 % )', '14.5% ( 14.5 % )', '10.8% ( 10.8 % )', '9.6% ( 9.6 % )']]
1 represents after-tax interest expense utilizing the federal statutory rate of 35% ( 35 % ) .2 debt consists of long-term debt , including current maturities of long-term debt , and short-term borrowings ( if any ) .3 equity includes non-cash adjustments , primarily for unrecognized benefit plan actuarial losses and prior service costs in 2007 and 2006 , the adjustment for the adoption of fas 158 in 2006 , and the additional minimum pension liability in years prior to 2007 .4 average benefit plan adjustments reflect the cumulative value of entries identified in our statement of stockholders equity under the captions 201cpostretirement benefit plans , 201d 201cadjustment for adoption of fas 158 201d and 201cminimum pension liability . 201d the total of annual benefit plan adjustments to equity were : 2007 = $ 1706 million ; 2006 = ( $ 1883 ) million ; 2005 = ( $ 105 ) million ; 2004 = ( $ 285 ) million ; 2003 = $ 331 million ; 2002 = ( $ 1537 million ) ; and 2001 = ( $ 33 million ) .as these entries are recorded in the fourth quarter , the value added back to our average equity in a given year is the cumulative impact of all prior year entries plus 20% ( 20 % ) of the current year entry value .5 yearly averages are calculated using balances at the start of the year and at the end of each quarter. .
|
what was the average return on invested capital from 2003 to 2007?
|
15.1%
|
{
"answer": "15.1%",
"decimal": 0.151,
"type": "percentage"
}
| |
va health care delivery system through our network of providers .we are compensated by the va for the cost of our providers 2019 services at a specified contractual amount per service plus an additional administrative fee for each transaction .the contract , under which we began providing services on january 1 , 2008 , is comprised of one base period and four one-year option periods subject to renewals at the federal government 2019s option .we are currently in the first option period , which expires on september 30 , 2009 .for the year ended december 31 , 2008 , revenues under this va contract were approximately $ 22.7 million , or less than 1% ( 1 % ) of our total premium and aso fees .for the year ended december 31 , 2008 , military services premium revenues were approximately $ 3.2 billion , or 11.3% ( 11.3 % ) of our total premiums and aso fees , and military services aso fees totaled $ 76.8 million , or 0.3% ( 0.3 % ) of our total premiums and aso fees .international and green ribbon health operations in august 2006 , we established our subsidiary humana europe in the united kingdom to provide commissioning support to primary care trusts , or pcts , in england .under the contracts we are awarded , we work in partnership with local pcts , health care providers , and patients to strengthen health-service delivery and to implement strategies at a local level to help the national health service enhance patient experience , improve clinical outcomes , and reduce costs .for the year ended december 31 , 2008 , revenues under these contracts were approximately $ 7.7 million , or less than 1% ( 1 % ) of our total premium and aso fees .we participated in a medicare health support pilot program through green ribbon health , or grh , a joint- venture company with pfizer health solutions inc .grh was designed to support cms assigned medicare beneficiaries living with diabetes and/or congestive heart failure in central florida .grh used disease management initiatives , including evidence-based clinical guidelines , personal self-directed change strategies , and personal nurses to help participants navigate the health system .revenues under the contract with cms over the period which began november 1 , 2005 and ended august 15 , 2008 are subject to refund unless savings , satisfaction , and clinical improvement targets are met .under the terms of the contract , after a claims run-out period , cms is required to deliver a performance report during the third quarter of 2009 .to date , all revenues have been deferred until reliable estimates are determinable , and revenues are not expected to be material when recognized .our products marketed to commercial segment employers and members smart plans and other consumer products over the last several years , we have developed and offered various commercial products designed to provide options and choices to employers that are annually facing substantial premium increases driven by double-digit medical cost inflation .these smart plans , discussed more fully below , and other consumer offerings , which can be offered on either a fully-insured or aso basis , provided coverage to approximately 670000 members at december 31 , 2008 , representing approximately 18.5% ( 18.5 % ) of our total commercial medical membership as detailed below .smart plans and other consumer membership other commercial membership commercial medical membership .
[['', 'smart plans and other consumer membership', 'other commercial membership', 'commercial medical membership'], ['fully-insured', '392500', '1586300', '1978800'], ['aso', '277500', '1364500', '1642000'], ['total commercial medical', '670000', '2950800', '3620800']]
these products are often offered to employer groups as 201cbundles 201d , where the subscribers are offered various hmo and ppo options , with various employer contribution strategies as determined by the employer. .
|
at december 31 , 2008 what was the percent of the fully-insured to the total commercial medical smart plans and other consumer membership
|
58.6%
|
{
"answer": "58.6%",
"decimal": 0.586,
"type": "percentage"
}
| |
acquisition date ) .realex is a leading european online payment gateway technology provider .this acquisition furthered our strategy to provide omnichannel solutions that combine gateway services , payment service provisioning and payment technology services across europe .this transaction was accounted for as a business combination .we recorded the assets acquired , liabilities assumed and noncontrolling interest at their estimated fair values as of the acquisition date .on october 5 , 2015 , we paid 20ac6.7 million ( $ 7.5 million equivalent as of october 5 , 2015 ) to acquire the remaining shares of realex , after which we own 100% ( 100 % ) of the outstanding shares .the estimated acquisition date fair values of the assets acquired , liabilities assumed and the noncontrolling interest , including a reconciliation to the total purchase consideration , are as follows ( in thousands ) : .
[['cash', '$ 4082'], ['customer-related intangible assets', '16079'], ['acquired technology', '39820'], ['trade name', '3453'], ['other intangible assets', '399'], ['other assets', '6213'], ['liabilities', '-3479 ( 3479 )'], ['deferred income tax liabilities', '-7216 ( 7216 )'], ['total identifiable net assets', '59351'], ['goodwill', '66809'], ['noncontrolling interest', '-7280 ( 7280 )'], ['total purchase consideration', '$ 118880']]
goodwill of $ 66.8 million arising from the acquisition , included in the europe segment , was attributable to expected growth opportunities in europe , potential synergies from combining our existing business with gateway services and payment service provisioning in certain markets and an assembled workforce to support the newly acquired technology .goodwill associated with this acquisition is not deductible for income tax purposes .the customer-related intangible assets have an estimated amortization period of 16 years .the acquired technology has an estimated amortization of 10 years .the trade name has an estimated amortization period of 7 years .ezidebit on october 10 , 2014 , we completed the acquisition of 100% ( 100 % ) of the outstanding stock of ezi holdings pty ltd ( 201cezidebit 201d ) for aud302.6 million in cash ( $ 266.0 million equivalent as of the acquisition date ) .this acquisition was funded by a combination of cash on hand and borrowings on our revolving credit facility .ezidebit is a leading integrated payments company focused on recurring payments verticals in australia and new zealand .the acquisition of ezidebit further enhanced our existing integrated solutions offerings .this transaction was accounted for as a business combination .we recorded the assets acquired and liabilities assumed at their estimated fair values as of the acquisition date .76 2013 global payments inc .| 2017 form 10-k annual report .
|
what percentage of the total purchase consideration did the trade name represent?
|
3%
|
{
"answer": "3%",
"decimal": 0.03,
"type": "percentage"
}
| |
58 2016 annual report note 12 .business acquisition bayside business solutions , inc .effective july 1 , 2015 , the company acquired all of the equity interests of bayside business solutions , an alabama-based company that provides technology solutions and payment processing services primarily for the financial services industry , for $ 10000 paid in cash .this acquisition was funded using existing operating cash .the acquisition of bayside business solutions expanded the company 2019s presence in commercial lending within the industry .management has completed a purchase price allocation of bayside business solutions and its assessment of the fair value of acquired assets and liabilities assumed .the recognized amounts of identifiable assets acquired and liabilities assumed , based upon their fair values as of july 1 , 2015 are set forth below: .
[['current assets', '$ 1922'], ['long-term assets', '253'], ['identifiable intangible assets', '5005'], ['total liabilities assumed', '-3279 ( 3279 )'], ['total identifiable net assets', '3901'], ['goodwill', '6099'], ['net assets acquired', '$ 10000']]
the goodwill of $ 6099 arising from this acquisition consists largely of the growth potential , synergies and economies of scale expected from combining the operations of the company with those of bayside business solutions , together with the value of bayside business solutions 2019 assembled workforce .goodwill from this acquisition has been allocated to our banking systems and services segment .the goodwill is not expected to be deductible for income tax purposes .identifiable intangible assets from this acquisition consist of customer relationships of $ 3402 , $ 659 of computer software and other intangible assets of $ 944 .the weighted average amortization period for acquired customer relationships , acquired computer software , and other intangible assets is 15 years , 5 years , and 20 years , respectively .current assets were inclusive of cash acquired of $ 1725 .the fair value of current assets acquired included accounts receivable of $ 178 .the gross amount of receivables was $ 178 , none of which was expected to be uncollectible .during fiscal year 2016 , the company incurred $ 55 in costs related to the acquisition of bayside business solutions .these costs included fees for legal , valuation and other fees .these costs were included within general and administrative expenses .the results of bayside business solutions 2019 operations included in the company 2019s consolidated statement of income for the twelve months ended june 30 , 2016 included revenue of $ 4273 and after-tax net income of $ 303 .the accompanying consolidated statements of income for the fiscal year ended june 30 , 2016 do not include any revenues and expenses related to this acquisition prior to the acquisition date .the impact of this acquisition was considered immaterial to both the current and prior periods of our consolidated financial statements and pro forma financial information has not been provided .banno , llc effective march 1 , 2014 , the company acquired all of the equity interests of banno , an iowa-based company that provides web and transaction marketing services with a focus on the mobile medium , for $ 27910 paid in cash .this acquisition was funded using existing operating cash .the acquisition of banno expanded the company 2019s presence in online and mobile technologies within the industry .during fiscal year 2014 , the company incurred $ 30 in costs related to the acquisition of banno .these costs included fees for legal , valuation and other fees .these costs were included within general and administrative expenses .the results of banno's operations included in the company's consolidated statements of income for the year ended june 30 , 2016 included revenue of $ 6393 and after-tax net loss of $ 1289 .for the year ended june 30 , 2015 , our consolidated statements of income included revenue of $ 4175 and after-tax net loss of $ 1784 attributable to banno .the results of banno 2019s operations included in the company 2019s consolidated statement of operations from the acquisition date to june 30 , 2014 included revenue of $ 848 and after-tax net loss of $ 1121 .the accompanying consolidated statements of income for the twelve month period ended june 30 , 2016 do not include any revenues and expenses related to this acquisition prior to the acquisition date .the impact of this acquisition was considered immaterial to both the current and prior periods of our consolidated financial statements and pro forma financial information has not been provided. .
|
were current assets acquired greater than long-term assets?
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
guarantees to third parties .we have , however , issued guar- antees and comfort letters of $ 171 million for the debt and other obligations of unconsolidated affiliates , primarily for cpw .in addition , off-balance sheet arrangements are gener- ally limited to the future payments under noncancelable operating leases , which totaled $ 408 million at may 28 , at may 28 , 2006 , we had invested in four variable interest entities ( vies ) .we are the primary beneficiary ( pb ) of general mills capital , inc .( gm capital ) , a subsidiary that we consolidate as set forth in note eight to the consoli- dated financial statements appearing on pages 43 and 44 in item eight of this report .we also have an interest in a contract manufacturer at our former facility in geneva , illi- nois .even though we are the pb , we have not consolidated this entity because it is not material to our results of oper- ations , financial condition , or liquidity at may 28 , 2006 .this entity had property and equipment of $ 50 million and long-term debt of $ 50 million at may 28 , 2006 .we are not the pb of the remaining two vies .our maximum exposure to loss from these vies is limited to the $ 150 million minority interest in gm capital , the contract manufactur- er 2019s debt and our $ 6 million of equity investments in the two remaining vies .the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period .the majority of the purchase obligations represent commitments for raw mate- rial and packaging to be utilized in the normal course of business and for consumer-directed marketing commit- ments that support our brands .the net fair value of our interest rate and equity swaps was $ 159 million at may 28 , 2006 , based on market values as of that date .future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future .other long-term obligations primarily consist of income taxes , accrued compensation and benefits , and miscella- neous liabilities .we are unable to estimate the timing of the payments for these items .we do not have significant statutory or contractual funding requirements for our defined-benefit retirement and other postretirement benefit plans .further information on these plans , including our expected contributions for fiscal 2007 , is set forth in note thirteen to the consolidated financial statements appearing on pages 47 through 50 in item eight of this report .in millions , payments due by fiscal year total 2007 2008-09 2010-11 2012 and thereafter .
[['in millionspayments dueby fiscal year', 'total', '2007', '2008-09', '2010-11', '2012 andthereafter'], ['long-term debt', '$ 4546', '$ 2131', '$ 971', '$ 55', '$ 1389'], ['accrued interest', '152', '152', '2013', '2013', '2013'], ['operating leases', '408', '92', '142', '89', '85'], ['purchaseobligations', '2351', '2068', '144', '75', '64'], ['total', '$ 7457', '$ 4443', '$ 1257', '$ 219', '$ 1538']]
significant accounting estimates for a complete description of our significant accounting policies , please see note one to the consolidated financial statements appearing on pages 35 through 37 in item eight of this report .our significant accounting estimates are those that have meaningful impact on the reporting of our financial condition and results of operations .these poli- cies include our accounting for trade and consumer promotion activities ; goodwill and other intangible asset impairments ; income taxes ; and pension and other postretirement benefits .trade and consumer promotion activities we report sales net of certain coupon and trade promotion costs .the consumer coupon costs recorded as a reduction of sales are based on the estimated redemption value of those coupons , as determined by historical patterns of coupon redemption and consideration of current market conditions such as competitive activity in those product categories .the trade promotion costs include payments to customers to perform merchandising activities on our behalf , such as advertising or in-store displays , discounts to our list prices to lower retail shelf prices , and payments to gain distribution of new products .the cost of these activi- ties is recognized as the related revenue is recorded , which generally precedes the actual cash expenditure .the recog- nition of these costs requires estimation of customer participation and performance levels .these estimates are made based on the quantity of customer sales , the timing and forecasted costs of promotional activities , and other factors .differences between estimated expenses and actual costs are normally insignificant and are recognized as a change in management estimate in a subsequent period .our accrued trade and consumer promotion liability was $ 339 million as of may 28 , 2006 , and $ 283 million as of may 29 , 2005 .our unit volume in the last week of each quarter is consis- tently higher than the average for the preceding weeks of the quarter .in comparison to the average daily shipments in the first 12 weeks of a quarter , the final week of each quarter has approximately two to four days 2019 worth of incre- mental shipments ( based on a five-day week ) , reflecting increased promotional activity at the end of the quarter .this increased activity includes promotions to assure that our customers have sufficient inventory on hand to support major marketing events or increased seasonal demand early in the next quarter , as well as promotions intended to help achieve interim unit volume targets .if , due to quarter-end promotions or other reasons , our customers purchase more product in any reporting period than end-consumer demand will require in future periods , our sales level in future reporting periods could be adversely affected. .
|
what was the percentage change in our accrued trade and consumer promotion liability from 2005 to 2006
|
19.8%
|
{
"answer": "19.8%",
"decimal": 0.198,
"type": "percentage"
}
| |
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 $ 559 million as of may 27 , as of may 27 , 2018 , we had invested in five variable interest entities ( vies ) .none of our vies are material to our results of operations , financial condition , or liquidity as of and for the fiscal year ended may 27 , 2018 .our defined benefit plans in the united states are subject to the requirements of the pension protection act ( ppa ) .in the future , the ppa may require us to make additional contributions to our domestic plans .we do not expect to be required to make any contributions in fiscal 2019 .the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period: .
[['in millions', 'payments due by fiscal year total', 'payments due by fiscal year 2019', 'payments due by fiscal year 2020 -21', 'payments due by fiscal year 2022 -23', 'payments due by fiscal year 2024 and thereafter'], ['long-term debt ( a )', '$ 14354.0', '$ 1599.8', '$ 3122.6', '$ 2315.5', '$ 7316.1'], ['accrued interest', '107.7', '107.7', '-', '-', '-'], ['operating leases ( b )', '559.3', '137.4', '208.0', '122.7', '91.2'], ['capital leases', '0.5', '0.3', '0.2', '-', '-'], ['purchase obligations ( c )', '3417.0', '2646.9', '728.8', '39.8', '1.5'], ['total contractual obligations', '18438.5', '4492.1', '4059.6', '2478.0', '7408.8'], ['other long-term obligations ( d )', '1199.0', '-', '-', '-', '-'], ['total long-term obligations', '$ 19637.5', '$ 4492.1', '$ 4059.6', '$ 2478.0', '$ 7408.8']]
( a ) amounts represent the expected cash payments of our long-term debt and do not include $ 0.5 million for capital leases or $ 85.7 million for net unamortized debt issuance costs , premiums and discounts , and fair value adjustments .( b ) operating leases represents the minimum rental commitments under non-cancelable operating leases .( c ) the majority of the purchase obligations represent commitments for raw material and packaging to be utilized in the normal course of business and for consumer marketing spending commitments that support our brands .for purposes of this table , arrangements are considered purchase obligations if a contract specifies all significant terms , including fixed or minimum quantities to be purchased , a pricing structure , and approximate timing of the transaction .most arrangements are cancelable without a significant penalty and with short notice ( usually 30 days ) .any amounts reflected on the consolidated balance sheets as accounts payable and accrued liabilities are excluded from the table above .( d ) the fair value of our foreign exchange , equity , commodity , and grain derivative contracts with a payable position to the counterparty was $ 16 million as of may 27 , 2018 , based on fair market values as of that date .future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future .other long-term obligations mainly consist of liabilities for accrued compensation and benefits , including the underfunded status of certain of our defined benefit pension , other postretirement benefit , and postemployment benefit plans , and miscellaneous liabilities .we expect to pay $ 20 million of benefits from our unfunded postemployment benefit plans and $ 18 million of deferred compensation in fiscal 2019 .we are unable to reliably estimate the amount of these payments beyond fiscal 2019 .as of may 27 , 2018 , our total liability for uncertain tax positions and accrued interest and penalties was $ 223.6 million .significant accounting estimates for a complete description of our significant accounting policies , please see note 2 to the consolidated financial statements in item 8 of this report .our significant accounting estimates are those that have a meaningful impact .
|
what portion of the total long-term obligations are due by the fiscal year 2019?
|
22.88%
|
{
"answer": "22.88%",
"decimal": 0.2288,
"type": "percentage"
}
| |
other expense , net : the company's other expense consists of the following: .
[['( in thousands )', 'year ended december 31 , 2013', 'year ended december 31 , 2012'], ['foreign currency losses net', '$ -1115 ( 1115 )', '$ -1401 ( 1401 )'], ['other income ( expense ) net', '69', '-4 ( 4 )'], ['total other expense net', '$ -1046 ( 1046 )', '$ -1405 ( 1405 )']]
income tax provision : the company recorded income tax expense of $ 77.2 million and had income before income taxes of $ 322.5 million for the year ended december 31 , 2013 , representing an effective tax rate of 23.9% ( 23.9 % ) .during the year ended december 31 , 2012 , the company recorded income tax expense of $ 90.1 million and had income before income taxes of $ 293.5 million , representing an effective tax rate of 30.7% ( 30.7 % ) .in december 2013 , the company received notice from the irs that the joint committee on taxation took no exception to the company's tax returns that were filed for 2009 and 2010 .an $ 11.0 million tax benefit was recognized in the company's 2013 financial results as the company had effectively settled uncertainty regarding the realization of refund claims filed in connection with the 2009 and 2010 returns .in the u.s. , which is the largest jurisdiction where the company receives such a tax credit , the availability of the research and development credit expired at the end of the 2011 tax year .in january 2013 , the u.s .congress passed legislation that reinstated the research and development credit retroactive to 2012 .the income tax provision for the year ended december 31 , 2013 includes approximately $ 2.3 million related to the reinstated research and development credit for 2012 activity .the decrease in the effective tax rate from the prior year is primarily due to the release of an uncertain tax position mentioned above , the reinstatement of the u.s .research and development credit mentioned above , and cash repatriation activities .when compared to the federal and state combined statutory rate , the effective tax rates for the years ended december 31 , 2013 and 2012 were favorably impacted by lower statutory tax rates in many of the company 2019s foreign jurisdictions , the domestic manufacturing deduction and tax benefits associated with the merger of the company 2019s japan subsidiaries in 2010 .net income : the company 2019s net income for the year ended december 31 , 2013 was $ 245.3 million as compared to net income of $ 203.5 million for the year ended december 31 , 2012 .diluted earnings per share was $ 2.58 for the year ended december 31 , 2013 and $ 2.14 for the year ended december 31 , 2012 .the weighted average shares used in computing diluted earnings per share were 95.1 million and 95.0 million for the years ended december 31 , 2013 and 2012 , respectively .table of contents .
|
what was the percentage change in the foreign currency losses net from 2012 to 2013
|
-20.4%
|
{
"answer": "-20.4%",
"decimal": -0.204,
"type": "percentage"
}
| |
notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201ccompany 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 operating in the u.s .our network includes 32236 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s .gateways and providing several corridors to key mexican gateways .we own 26039 miles and operate on the remainder pursuant to trackage rights or leases .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 we provide and analyze revenue by commodity group , we treat the financial results of the railroad as one segment due to the integrated nature of our rail network .our operating revenues are primarily derived from contracts with customers for the transportation of freight from origin to destination .effective january 1 , 2018 , the company reclassified its six commodity groups into four : agricultural products , energy , industrial , and premium .the following table represents a disaggregation of our freight and other revenues: .
[['millions', '2018', '2017', '2016'], ['agricultural products', '$ 4469', '$ 4303', '$ 4209'], ['energy', '4608', '4498', '3715'], ['industrial', '5679', '5204', '4964'], ['premium', '6628', '5832', '5713'], ['total freight revenues', '$ 21384', '$ 19837', '$ 18601'], ['other subsidiary revenues', '881', '885', '814'], ['accessorial revenues', '502', '458', '455'], ['other', '65', '60', '71'], ['total operating revenues', '$ 22832', '$ 21240', '$ 19941']]
although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products we transport are outside the u.s .each of our commodity groups includes revenue from shipments to and from mexico .included in the above table are freight revenues from our mexico business which amounted to $ 2.5 billion in 2018 , $ 2.3 billion in 2017 , and $ 2.2 billion in 2016 .basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .2 .significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .all intercompany transactions are eliminated .we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .cash , cash equivalents and restricted cash 2013 cash equivalents consist of investments with original maturities of three months or less .amounts included in restricted cash represent those required to be set aside by contractual agreement. .
|
in billions , what would 2018 total operating revenues have been without the mexico business?
|
20.332
|
{
"answer": "20.332",
"decimal": 20.332,
"type": "float"
}
| |
entergy louisiana , llc management's financial discussion and analysis 2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .following is an analysis of the change in net revenue comparing 2007 to 2006 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2006 net revenue', '$ 942.1'], ['base revenues', '78.4'], ['volume/weather', '37.5'], ['transmission revenue', '9.2'], ['purchased power capacity', '-80.0 ( 80.0 )'], ['other', '3.9'], ['2007 net revenue', '$ 991.1']]
the base revenues variance is primarily due to increases effective september 2006 for the 2005 formula rate plan filing to recover lpsc-approved incremental deferred and ongoing capacity costs .see "state and local rate regulation" below and note 2 to the financial statements for a discussion of the formula rate plan filing .the volume/weather variance is due to increased electricity usage , including electricity sales during the unbilled service period .billed retail electricity usage increased a total of 666 gwh in all sectors compared to 2006 .see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues .the transmission revenue variance is primarily due to higher rates .the purchased power capacity variance is primarily due to higher purchased power capacity charges and the amortization of capacity charges effective september 2006 as a result of the formula rate plan filing in may 2006 .a portion of the purchased power capacity costs is offset in base revenues due to a base rate increase implemented to recover incremental deferred and ongoing purchased power capacity charges , as mentioned above .see "state and local rate regulation" below and note 2 to the financial statements for a discussion of the formula rate plan filing .gross operating revenues , fuel , purchased power expenses , and other regulatory charges ( credits ) gross operating revenues increased primarily due to : an increase of $ 143.1 million in fuel cost recovery revenues due to higher fuel rates and usage ; an increase of $ 78.4 million in base revenues , as discussed above ; and an increase of $ 37.5 million related to volume/weather , as discussed above .fuel and purchased power expenses increased primarily due to an increase in net area demand and an increase in deferred fuel expense as a result of higher fuel rates , as discussed above .other regulatory credits decreased primarily due to the deferral of capacity charges in 2006 in addition to the amortization of these capacity charges in 2007 as a result of the may 2006 formula rate plan filing ( for the 2005 test year ) with the lpsc to recover such costs through base rates effective september 2006 .see note 2 to the financial statements for a discussion of the formula rate plan and storm cost recovery filings with the lpsc. .
|
what is the percent change in net revenue between 2006 and 2007?
|
5.2%
|
{
"answer": "5.2%",
"decimal": 0.052000000000000005,
"type": "percentage"
}
| |
the following table provides a summary of our historical capital expenditures related to the upgrading of our infrastructure and systems: .
[['( in millions )', 'for the years ended december 31 , 2018', 'for the years ended december 31 , 2017', 'for the years ended december 31 , 2016'], ['transmission and distribution', '$ 572', '$ 551', '$ 568'], ['treatment and pumping', '231', '171', '151'], ['services meter and fire hydrants', '303', '281', '297'], ['general structure and equipment', '371', '281', '202'], ['sources of supply', '26', '54', '59'], ['wastewater', '83', '96', '34'], ['total capital expenditures', '$ 1586', '$ 1434', '$ 1311']]
in 2018 , our capital expenditures increased $ 152 million , or 10.6% ( 10.6 % ) , primarily due to investment across the majority of our infrastructure categories .in 2017 , our capital expenditures increased $ 123 million , or 9.4% ( 9.4 % ) , primarily due to investment in our general structure and equipment and wastewater categories .we also grow our business primarily through acquisitions of water and wastewater systems , as well as other water-related services .these acquisitions are complementary to our existing business and support continued geographical diversification and growth of our operations .generally , acquisitions are funded initially with short- term debt , and later refinanced with the proceeds from long-term debt .the following is a summary of the acquisitions and dispositions affecting our cash flows from investing activities : 2022 the majority of cash paid for acquisitions pertained to the $ 365 million purchase of pivotal within our homeowner services group .2022 paid $ 33 million for 15 water and wastewater systems , representing approximately 14000 customers .2022 received $ 35 million for the sale of assets , including $ 27 million for the sale of the majority of the o&m contracts in our contract services group during the third quarter of 2018 .2022 the majority of cash paid for acquisitions pertained to the $ 159 million purchase of the wastewater collection and treatment system assets of the municipal authority of the city of mckeesport , pennsylvania ( the 201cmckeesport system 201d ) , excluding a $ 5 million non-escrowed deposit made in 2016 .2022 paid $ 18 million for 16 water and wastewater systems , excluding the mckeesport system and shorelands ( a stock-for-stock transaction ) , representing approximately 7000 customers .2022 received $ 15 million for the sale of assets .2022 paid $ 199 million for 15 water and wastewater systems , representing approximately 42000 customers .2022 made a non-escrowed deposit of $ 5 million related to the mckeesport system acquisition .2022 received $ 9 million for the sale of assets .as previously noted , we expect to invest between $ 8.0 billion to $ 8.6 billion from 2019 to 2023 , with $ 7.3 billion of this range for infrastructure improvements in our regulated businesses .in 2019 , we expect to .
|
total transmission and distribution expenses in millions for the three year period equaled what?
|
1691
|
{
"answer": "1691",
"decimal": 1691,
"type": "float"
}
| |
sales of unregistered securities not applicable .repurchases of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2017 to december 31 , 2017 .total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 .
[['', 'total number ofshares ( or units ) purchased1', 'average price paidper share ( or unit ) 2', 'total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3', 'maximum number ( orapproximate dollar value ) of shares ( or units ) that may yet be purchasedunder the plans orprograms3'], ['october 1 - 31', '1231868', '$ 20.74', '1230394', '$ 214001430'], ['november 1 - 30', '1723139', '$ 18.89', '1722246', '$ 181474975'], ['december 1 - 31', '1295639', '$ 20.25', '1285000', '$ 155459545'], ['total', '4250646', '$ 19.84', '4237640', '']]
1 included shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .we repurchased 1474 withheld shares in october 2017 , 893 withheld shares in november 2017 and 10639 withheld shares in december 2017 , for a total of 13006 withheld shares during the three-month period .2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our share repurchase program , described in note 5 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our share repurchase program .3 in february 2017 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2017 share repurchase program 201d ) .on february 14 , 2018 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock .the new authorization is in addition to any amounts remaining for repurchase under the 2017 share repurchase program .there is no expiration date associated with the share repurchase programs. .
|
what is the percentage decrease in average price per share from october to november?
|
8.92%
|
{
"answer": "8.92%",
"decimal": 0.0892,
"type": "percentage"
}
| |
kimco realty corporation and subsidiaries notes to consolidated financial statements , continued uncertain tax positions : the company is subject to income tax in certain jurisdictions outside the u.s. , principally canada and mexico .the statute of limitations on assessment of tax varies from three to seven years depending on the jurisdiction and tax issue .tax returns filed in each jurisdiction are subject to examination by local tax authorities .the company is currently under audit by the canadian revenue agency , mexican tax authority and the u.s .internal revenue service ( 201cirs 201d ) .in october 2011 , the irs issued a notice of proposed adjustment , which proposes pursuant to section 482 of the code , to disallow a capital loss claimed by krs on the disposition of common shares of valad property ltd. , an australian publicly listed company .because the adjustment is being made pursuant to section 482 of the code , the irs believes it can assert a 100 percent 201cpenalty 201d tax pursuant to section 857 ( b ) ( 7 ) of the code and disallow the capital loss deduction .the notice of proposed adjustment indicates the irs 2019 intention to impose the 100 percent 201cpenalty 201d tax on the company in the amount of $ 40.9 million and disallowing the capital loss claimed by krs .the company and its outside counsel have considered the irs 2019 assessment and believe that there is sufficient documentation establishing a valid business purpose for the transfer , including recent case history showing support for similar positions .accordingly , the company strongly disagrees with the irs 2019 position on the application of section 482 of the code to the disposition of the shares , the imposition of the 100 percent penalty tax and the simultaneous assertion of the penalty tax and disallowance of the capital loss deduction .the company received a notice of proposed assessment and filed a written protest and requested an irs appeals office conference .an appeals hearing was attended by management and its attorneys , the irs compliance group and an irs appeals officer in november , 2014 , at which time irs compliance presented arguments in support of their position , as noted herein .management and its attorneys presented rebuttal arguments in support of its position .the matter is currently under consideration by the appeals officer .the company intends to vigorously defend its position in this matter and believes it will prevail .resolutions of these audits are not expected to have a material effect on the company 2019s financial statements .during 2013 , the company early adopted asu 2013-11 prospectively and reclassified a portion of its reserve for uncertain tax positions .the reserve for uncertain tax positions included amounts related to the company 2019s canadian operations .the company has unrecognized tax benefits reported as deferred tax assets and are available to settle adjustments made with respect to the company 2019s uncertain tax positions in canada .the company reduced its reserve for uncertain tax positions by $ 12.3 million associated with its canadian operations and reduced its deferred tax assets in accordance with asu 2013-11 .the company does not believe that the total amount of unrecognized tax benefits as of december 31 , 2014 , will significantly increase or decrease within the next 12 months .as of december 31 , 2014 , the company 2019s canadian uncertain tax positions , which reduce its deferred tax assets , aggregated $ 10.4 million .the liability for uncertain tax benefits principally consists of estimated foreign , federal and state income tax liabilities in years for which the statute of limitations is open .open years range from 2008 through 2014 and vary by jurisdiction and issue .the aggregate changes in the balance of unrecognized tax benefits for the years ended december 31 , 2014 and 2013 were as follows ( in thousands ) : .
[['', '201 4', '2013'], ['balance beginning of year', '$ 4590', '$ 16890'], ['increases for tax positions related to current year', '59', '15'], ['reduction due to adoption of asu 2013-11 ( a )', '-', '-12315 ( 12315 )'], ['balance end of year', '$ 4649', '$ 4590']]
( a ) this amount was reclassified against the related deferred tax asset relating to the company 2019s early adoption of asu 2013-11 as discussed above. .
|
what is the net change in the balance unrecognized tax benefits in 2013?
|
-12300
|
{
"answer": "-12300",
"decimal": -12300,
"type": "float"
}
| |
part ii item 5 .market for registrant 2019s common equity and related stockholder matters market information our common stock has been traded on the new york stock exchange ( 2018 2018nyse 2019 2019 ) under the symbol 2018 2018exr 2019 2019 since our ipo on august 17 , 2004 .prior to that time there was no public market for our common stock .the following table sets forth , for the periods indicated , the high and low bid price for our common stock as reported by the nyse and the per share dividends declared : dividends high low declared .
[['', 'high', 'low', 'dividends declared'], ['period from august 17 2004 to september 30 2004', '$ 14.38', '$ 12.50', '$ 0.1113'], ['quarter ended december 31 2004', '14.55', '12.60', '0.2275'], ['quarter ended march 31 2005', '14.30', '12.55', '0.2275'], ['quarter ended june 30 2005', '14.75', '12.19', '0.2275'], ['quarter ended september 30 2005', '16.71', '14.32', '0.2275'], ['quarter ended december 31 2005', '15.90', '13.00', '0.2275']]
on february 28 , 2006 , the closing price of our common stock as reported by the nyse was $ 15.00 .at february 28 , 2006 , we had 166 holders of record of our common stock .holders of shares of common stock are entitled to receive distributions when declared by our board of directors out of any assets legally available for that purpose .as a reit , we are required to distribute at least 90% ( 90 % ) of our 2018 2018reit taxable income 2019 2019 is generally equivalent to our net taxable ordinary income , determined without regard to the deduction for dividends paid , to our stockholders annually in order to maintain our reit qualifications for u.s .federal income tax purposes .unregistered sales of equity securities and use of proceeds on june 20 , 2005 , we completed the sale of 6200000 shares of our common stock , $ .01 par value , for $ 83514 , which we reported in a current report on form 8-k filed with the securities and exchange commission on june 24 , 2005 .we used the proceeds for general corporate purposes , including debt repayment .the shares were issued pursuant to an exemption from registration under the securities act of 1933 , as amended. .
|
what was the dividend yield for the quarter ended march 31 , 2005 using the high bid price?
|
6%
|
{
"answer": "6%",
"decimal": 0.06,
"type": "percentage"
}
|
this gives and example of the yield for the full year based on the worst price that could have been obtained on the bid for the quarter . it also compares with the previous answer as a risk measure .
|
performance graph the following graph compares the yearly change in the cumulative total stockholder return for our last five full fiscal years , based upon the market price of our common stock , with the cumulative total return on a nasdaq composite index ( u.s .companies ) and a peer group , the nasdaq medical equipment-sic code 3840-3849 index , which is comprised of medical equipment companies , for that period .the performance graph assumes the investment of $ 100 on march 31 , 2010 in our common stock , the nasdaq composite index ( u.s .companies ) and the peer group index , and the reinvestment of any and all dividends. .
[['', '3/31/2010', '3/31/2011', '3/31/2012', '3/31/2013', '3/31/2014', '3/31/2015'], ['abiomed inc', '100', '140.79', '215.02', '180.91', '252.33', '693.60'], ['nasdaq composite index', '100', '115.98', '128.93', '136.26', '175.11', '204.38'], ['nasdaq medical equipment sic code 3840-3849', '100', '108.31', '115.05', '105.56', '123.18', '118.95']]
this graph is not 201csoliciting material 201d under regulation 14a or 14c of the rules promulgated under the securities exchange act of 1934 , is not deemed filed with the securities and exchange commission and is not to be incorporated by reference in any of our filings under the securities act of 1933 , as amended , or the exchange act whether made before or after the date hereof and irrespective of any general incorporation language in any such filing .transfer agent american stock transfer & trust company , 59 maiden lane , new york , ny 10038 , is our stock transfer agent. .
|
did abiomed outperform the nasdaq medical equipment index over the five year period?
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
equity compensation plan information the following table presents the equity securities available for issuance under our equity compensation plans as of december 31 , 2012 .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 3946111 $ 34.67 3608527 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', '3946111', '$ 34.67', '3608527'], ['equity compensation plans not approved by security holders ( 3 )', '2014', '2014', '2014'], ['total', '3946111', '$ 34.67', '3608527']]
( 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 , 1166492 were subject to stock options , 2060138 were subject to outstanding restricted performance stock rights , 641556 were restricted stock rights , and 63033 were stock rights granted under the 2011 plan .in addition , this number includes 9129 stock rights and 5763 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement .( 2 ) this is the weighted average exercise price of the 1166492 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 2013 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 2013 annual meeting of stockholders to be filed within 120 days after the end of the company 2019s fiscal year. .
|
what is the ratio of the number of securities to be issued to the number of securities remaining available
|
1.1
|
{
"answer": "1.1",
"decimal": 1.1,
"type": "float"
}
|
for every 1.1 securities to be issued there is 1 securities remaining
|
american tower corporation and subsidiaries notes to consolidated financial statements the valuation allowance increased from $ 47.8 million as of december 31 , 2009 to $ 48.2 million as of december 31 , 2010 .the increase was primarily due to valuation allowances on foreign loss carryforwards .at december 31 , 2010 , the company has provided a valuation allowance of approximately $ 48.2 million which primarily relates to state net operating loss carryforwards , equity investments and foreign items .the company has not provided a valuation allowance for the remaining deferred tax assets , primarily its federal net operating loss carryforwards , as management believes the company will have sufficient taxable income to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period .valuation allowances may be reversed if related deferred tax assets are deemed realizable based on changes in facts and circumstances relevant to the assets 2019 recoverability .the recoverability of the company 2019s remaining net deferred tax asset has been assessed utilizing projections based on its current operations .the projections show a significant decrease in depreciation in the later years of the carryforward period as a result of a significant portion of its assets being fully depreciated during the first fifteen years of the carryforward period .accordingly , the recoverability of the net deferred tax asset is not dependent on material improvements to operations , material asset sales or other non-routine transactions .based on its current outlook of future taxable income during the carryforward period , management believes that the net deferred tax asset will be realized .the company 2019s deferred tax assets as of december 31 , 2010 and 2009 in the table above do not include $ 122.1 million and $ 113.9 million , respectively , of excess tax benefits from the exercises of employee stock options that are a component of net operating losses .total stockholders 2019 equity as of december 31 , 2010 will be increased by $ 122.1 million if and when any such excess tax benefits are ultimately realized .at december 31 , 2010 , the company had net federal and state operating loss carryforwards available to reduce future federal and state taxable income of approximately $ 1.2 billion , including losses related to employee stock options of $ 0.3 billion .if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : .
[['years ended december 31,', 'federal', 'state', 'foreign'], ['2011 to 2015', '$ 2014', '$ 2014', '$ 503'], ['2016 to 2020', '2014', '331315', '5509'], ['2021 to 2025', '774209', '576780', '2014'], ['2026 to 2030', '423398', '279908', '92412'], ['total', '$ 1197607', '$ 1188003', '$ 98424']]
in addition , the company has mexican tax credits of $ 5.2 million which if not utilized would expire in 2017. .
|
what portion of the total net operating loss carryforwards is state related?
|
47.8%
|
{
"answer": "47.8%",
"decimal": 0.478,
"type": "percentage"
}
| |
adjusted ebitda increased $ 574 million , or 5% ( 5 % ) , in 2017 primarily from : 2022 an increase in branded postpaid and prepaid service revenues primarily due to strong customer response to our un- carrier initiatives , the ongoing success of our promotional activities , and the continued strength of our metropcs brand ; 2022 higher wholesale revenues ; and 2022 higher other revenues ; partially offset by 2022 higher selling , general and administrative expenses ; 2022 lower gains on disposal of spectrum licenses of $ 600 million ; gains on disposal were $ 235 million for the year ended december 31 , 2017 , compared to $ 835 million in the same period in 2016 ; 2022 higher cost of services expense ; 2022 higher net losses on equipment ; and 2022 the negative impact from hurricanes of approximately $ 201 million , net of insurance recoveries .adjusted ebitda increased $ 2.8 billion , or 36% ( 36 % ) , in 2016 primarily from : 2022 increased branded postpaid and prepaid service revenues primarily due to strong customer response to our un-carrier initiatives and the ongoing success of our promotional activities ; 2022 higher gains on disposal of spectrum licenses of $ 672 million ; gains on disposal were $ 835 million in 2016 compared to $ 163 million in 2015 ; 2022 lower losses on equipment ; and 2022 focused cost control and synergies realized from the metropcs business combination , primarily in cost of services ; partially offset by 2022 higher selling , general and administrative .effective january 1 , 2017 , the imputed discount on eip receivables , which was previously recognized within interest income in our consolidated statements of comprehensive income , is recognized within other revenues in our consolidated statements of comprehensive income .due to this presentation , the imputed discount on eip receivables is included in adjusted ebitda .see note 1 - summary of significant accounting policies of notes to the consolidated financial statements included in part ii , item 8 of this form 10-k for further information .we have applied this change retrospectively and presented the effect on the years ended december 31 , 2016 and 2015 , in the table below. .
[['( in millions )', 'year ended december 31 2016 as filed', 'year ended december 31 2016 change in accounting principle', 'year ended december 31 2016 as adjusted', 'year ended december 31 2016 as filed', 'year ended december 31 2016 change in accounting principle', 'as adjusted'], ['operating income', '$ 3802', '$ 248', '$ 4050', '$ 2065', '$ 414', '$ 2479'], ['interest income', '261', '-248 ( 248 )', '13', '420', '-414 ( 414 )', '6'], ['net income', '1460', '2014', '1460', '733', '2014', '733'], ['net income as a percentage of service revenue', '5% ( 5 % )', '2014% ( 2014 % )', '5% ( 5 % )', '3% ( 3 % )', '2014% ( 2014 % )', '3% ( 3 % )'], ['adjusted ebitda', '$ 10391', '$ 248', '$ 10639', '$ 7393', '$ 414', '$ 7807'], ['adjusted ebitda margin ( adjusted ebitda divided by service revenues )', '37% ( 37 % )', '1% ( 1 % )', '38% ( 38 % )', '30% ( 30 % )', '1% ( 1 % )', '31% ( 31 % )']]
adjusted ebitda margin ( adjusted ebitda divided by service revenues ) 37% ( 37 % ) 1% ( 1 % ) 38% ( 38 % ) 30% ( 30 % ) 1% ( 1 % ) 31% ( 31 % ) liquidity and capital resources our principal sources of liquidity are our cash and cash equivalents and cash generated from operations , proceeds from issuance of long-term debt and common stock , capital leases , the sale of certain receivables , financing arrangements of vendor payables which effectively extend payment terms and secured and unsecured revolving credit facilities with dt. .
|
what was the service revenue as of december 312016 in millions as filed?
|
29200
|
{
"answer": "29200",
"decimal": 29200,
"type": "float"
}
|
the service revenue was derived based on the net income and net income as a percent of service revenue provided
|
visa inc .notes to consolidated financial statements 2014 ( continued ) september 30 , 2013 ( 4 ) participating securities are unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents , such as the company 2019s restricted stock awards , restricted stock units and earned performance-based shares .note 16 2014share-based compensation 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 59 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 .no awards may be granted under the plan on or after 10 years from its effective date .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 2013 , 2012 , and 2011 , the company recorded share-based compensation cost of $ 179 million , $ 147 million and $ 154 million , respectively , in personnel on its consolidated statements of operations .the amount of capitalized share-based compensation cost was immaterial during fiscal 2013 , 2012 and 2011 .options options issued under the eip expire 10 years from the date of grant and vest ratably over three years from the date of grant , subject to earlier vesting in full under certain conditions .during fiscal 2013 , 2012 and 2011 , 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: .
[['', '2013', '2012', '2011'], ['expected term ( in years ) ( 1 )', '6.08', '6.02', '5.16'], ['risk-free rate of return ( 2 )', '0.8% ( 0.8 % )', '1.2% ( 1.2 % )', '1.2% ( 1.2 % )'], ['expected volatility ( 3 )', '29.3% ( 29.3 % )', '34.9% ( 34.9 % )', '33.4% ( 33.4 % )'], ['expected dividend yield ( 4 )', '0.9% ( 0.9 % )', '0.9% ( 0.9 % )', '0.8% ( 0.8 % )'], ['fair value per option granted', '$ 39.03', '$ 29.65', '$ 27.50']]
( 1 ) based on a set of peer companies that management believes is generally comparable to visa .( 2 ) based upon the zero coupon u.s .treasury bond rate over the expected term of the awards .( 3 ) based on the average of the company 2019s implied and historical volatility .as the company 2019s publicly-traded stock history is relatively short , historical volatility relies in part on the historical volatility of a group of peer companies that management believes is generally comparable to visa .the relative weighting between visa historical volatility and the historical volatility of the peer companies is based on the percentage of years visa stock price information has been available since its initial public offering compared to the expected term .the expected volatilities ranged from 27% ( 27 % ) to 29% ( 29 % ) in fiscal 2013 .( 4 ) based on the company 2019s annual dividend rate on the date of grant. .
|
what is the percentage change in fair value of option from 2012 to 2013?
|
31.6%
|
{
"answer": "31.6%",
"decimal": 0.316,
"type": "percentage"
}
| |
part ii were issued in an initial aggregate principal amount of $ 500 million at a 2.25% ( 2.25 % ) fixed , annual interest rate and will mature on may 1 , 2023 .the 2043 senior notes were issued in an initial aggregate principal amount of $ 500 million at a 3.625% ( 3.625 % ) fixed , annual interest rate and will mature on may 1 , 2043 .interest on the senior notes is payable semi-annually on may 1 and november 1 of each year .the issuance resulted in gross proceeds before expenses of $ 998 million .on november 1 , 2011 , we entered into a committed credit facility agreement with a syndicate of banks which provides for up to $ 1 billion of borrowings with the option to increase borrowings to $ 1.5 billion with lender approval .the facility matures november 1 , 2017 .as of and for the periods ended may 31 , 2015 and 2014 , we had no amounts outstanding under our committed credit facility .we currently have long-term debt ratings of aa- and a1 from standard and poor 2019s corporation and moody 2019s investor services , respectively .if our long- term debt ratings were to decline , the facility fee and interest rate under our committed credit facility would increase .conversely , if our long-term debt rating were to improve , the facility fee and interest rate would decrease .changes in our long-term debt rating would not trigger acceleration of maturity of any then-outstanding borrowings or any future borrowings under the committed credit facility .under this committed revolving credit facility , we have agreed to various covenants .these covenants include limits on our disposal of fixed assets , the amount of debt secured by liens we may incur , as well as a minimum capitalization ratio .in the event we were to have any borrowings outstanding under this facility and failed to meet any covenant , and were unable to obtain a waiver from a majority of the banks in the syndicate , any borrowings would become immediately due and payable .as of may 31 , 2015 , we were in full compliance with each of these covenants and believe it is unlikely we will fail to meet any of these covenants in the foreseeable future .liquidity is also provided by our $ 1 billion commercial paper program .during the year ended may 31 , 2015 , we did not issue commercial paper , and as of may 31 , 2015 , there were no outstanding borrowings under this program .we may issue commercial paper or other debt securities during fiscal 2016 depending on general corporate needs .we currently have short-term debt ratings of a1+ and p1 from standard and poor 2019s corporation and moody 2019s investor services , respectively .as of may 31 , 2015 , we had cash , cash equivalents and short-term investments totaling $ 5.9 billion , of which $ 4.2 billion was held by our foreign subsidiaries .included in cash and equivalents as of may 31 , 2015 was $ 968 million of cash collateral received from counterparties as a result of hedging activity .cash equivalents and short-term investments consist primarily of deposits held at major banks , money market funds , commercial paper , corporate notes , u.s .treasury obligations , u.s .government sponsored enterprise obligations and other investment grade fixed income securities .our fixed income investments are exposed to both credit and interest rate risk .all of our investments are investment grade to minimize our credit risk .while individual securities have varying durations , as of may 31 , 2015 the weighted average remaining duration of our short-term investments and cash equivalents portfolio was 79 days .to date we have not experienced difficulty accessing the credit markets or incurred higher interest costs .future volatility in the capital markets , however , may increase costs associated with issuing commercial paper or other debt instruments or affect our ability to access those markets .we believe that existing cash , cash equivalents , short-term investments and cash generated by operations , together with access to external sources of funds as described above , will be sufficient to meet our domestic and foreign capital needs in the foreseeable future .we utilize a variety of tax planning and financing strategies to manage our worldwide cash and deploy funds to locations where they are needed .we routinely repatriate a portion of our foreign earnings for which u.s .taxes have previously been provided .we also indefinitely reinvest a significant portion of our foreign earnings , and our current plans do not demonstrate a need to repatriate these earnings .should we require additional capital in the united states , we may elect to repatriate indefinitely reinvested foreign funds or raise capital in the united states through debt .if we were to repatriate indefinitely reinvested foreign funds , we would be required to accrue and pay additional u.s .taxes less applicable foreign tax credits .if we elect to raise capital in the united states through debt , we would incur additional interest expense .off-balance sheet arrangements in connection with various contracts and agreements , we routinely provide indemnification relating to the enforceability of intellectual property rights , coverage for legal issues that arise and other items where we are acting as the guarantor .currently , we have several such agreements in place .however , based on our historical experience and the estimated probability of future loss , we have determined that the fair value of such indemnification is not material to our financial position or results of operations .contractual obligations our significant long-term contractual obligations as of may 31 , 2015 and significant endorsement contracts , including related marketing commitments , entered into through the date of this report are as follows: .
[['description of commitment ( in millions )', 'description of commitment 2016', 'description of commitment 2017', 'description of commitment 2018', 'description of commitment 2019', 'description of commitment 2020', 'description of commitment thereafter', 'total'], ['operating leases', '$ 447', '$ 423', '$ 371', '$ 311', '$ 268', '$ 1154', '$ 2974'], ['capital leases', '2', '2', '1', '2014', '2014', '2014', '5'], ['long-term debt ( 1 )', '142', '77', '55', '36', '36', '1451', '1797'], ['endorsement contracts ( 2 )', '1009', '919', '882', '706', '533', '2143', '6192'], ['product purchase obligations ( 3 )', '3735', '2014', '2014', '2014', '2014', '2014', '3735'], ['other ( 4 )', '343', '152', '75', '72', '36', '92', '770'], ['total', '$ 5678', '$ 1573', '$ 1384', '$ 1125', '$ 873', '$ 4840', '$ 15473']]
( 1 ) the cash payments due for long-term debt include estimated interest payments .estimates of interest payments are based on outstanding principal amounts , applicable fixed interest rates or currently effective interest rates as of may 31 , 2015 ( if variable ) , timing of scheduled payments and the term of the debt obligations .( 2 ) the amounts listed for endorsement contracts represent approximate amounts of base compensation and minimum guaranteed royalty fees we are obligated to pay athlete , sport team and league endorsers of our products .actual payments under some contracts may be higher than the amounts listed as these contracts provide for bonuses to be paid to the endorsers based upon athletic achievements and/or royalties on product sales in future periods .actual payments under some contracts may also be lower as these contracts include provisions for reduced payments if athletic performance declines in future periods .in addition to the cash payments , we are obligated to furnish our endorsers with nike product for their use .it is not possible to determine how much we will spend on this product on an annual basis as the contracts generally do not stipulate a specific amount of cash to be spent on the product .the amount of product provided to the endorsers will depend on many factors , including general playing conditions , the number of sporting events in which they participate and our own decisions regarding product and marketing initiatives .in addition , the costs to design , develop , source and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers. .
|
what percent of the total for all years was due to contributions form the year 2020?
|
5%
|
{
"answer": "5%",
"decimal": 0.05,
"type": "percentage"
}
| |
repurchase of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2012 to december 31 , 2012 .total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 .
[['', 'total number ofshares ( or units ) purchased1', 'average price paidper share ( or unit ) 2', 'total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3', 'maximum number ( or approximate dollar value ) of shares ( or units ) that mayyet be purchased under theplans or programs3'], ['october 1 - 31', '13566', '$ 10.26', '0', '$ 148858924'], ['november 1 - 30', '5345171', '$ 9.98', '5343752', '$ 195551133'], ['december 1 - 31', '8797959', '$ 10.87', '8790000', '$ 99989339'], ['total', '14156696', '$ 10.53', '14133752', '']]
1 includes shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .we repurchased 13566 withheld shares in october 2012 , 1419 withheld shares in november 2012 and 7959 withheld shares in december 2012 , for a total of 22944 withheld shares during the three-month period .2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our stock repurchase program , described in note 5 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our stock repurchase program .3 on february 24 , 2012 , we announced in a press release that our board had approved a share repurchase program to repurchase from time to time up to $ 300.0 million of our common stock ( the 201c2012 share repurchase program 201d ) , in addition to amounts available on existing authorizations .on november 20 , 2012 , we announced in a press release that our board had authorized an increase in our 2012 share repurchase program to $ 400.0 million of our common stock .on february 22 , 2013 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million of our common stock .the new authorization is in addition to any amounts remaining available for repurchase under the 2012 share repurchase program .there is no expiration date associated with the share repurchase programs. .
|
what percentage of total shares were purchased in october?
|
0.0958%
|
{
"answer": "0.0958%",
"decimal": 0.000958,
"type": "percentage"
}
| |
fiscal 2011 , primarily because of increased business levels , an increase in revenue related to the sale and lease of our hardware products and increased revenue recognized from bookings in prior periods .maintenance revenue decreased on a standalone basis during fiscal 2012 as compared to fiscal 2011 , primarily because of the increased allocation to product revenue due to the gradual decline in the average duration of our time-based software license arrangements over the last three years .product and maintenance revenue increased during fiscal 2011 , as compared to fiscal 2010 , due to reasons noted above and also due to the increase in revenue from the denali business which we acquired in the second quarter of 2010 .we expect the aggregate of product and maintenance revenue will increase during fiscal 2013 due to increases in the revenue from our software and ip products , partially offset by an expected decrease in revenue from our hardware products .services revenue decreased during fiscal 2012 , as compared to fiscal 2011 , primarily because certain of our design services engineers have been redeployed to internal research and development projects and to assist with pre-sales activities .services revenue increased during fiscal 2011 , as compared to fiscal 2010 , primarily because of cash collections from customers on orders fulfilled in years prior to 2011 for which revenue was recognized in fiscal 2011 upon receipt of cash payment , and because of higher utilization rates for our services personnel .we expect services revenue to decrease during fiscal 2013 , as compared to fiscal 2012 , as we expect certain of our design services engineers will continue to work on internal research and development projects , primarily related or our design ip and vip activities .revenue by product group the following table shows the percentage of product and related maintenance revenue contributed by each of our five product groups , and services and other during fiscal 2012 , 2011 and 2010: .
[['', '2012', '2011', '2010'], ['functional verification hardware and ip', '30% ( 30 % )', '30% ( 30 % )', '24% ( 24 % )'], ['custom ic design', '23% ( 23 % )', '22% ( 22 % )', '26% ( 26 % )'], ['digital ic design', '23% ( 23 % )', '22% ( 22 % )', '23% ( 23 % )'], ['system interconnect design', '9% ( 9 % )', '9% ( 9 % )', '9% ( 9 % )'], ['design for manufacturing', '6% ( 6 % )', '7% ( 7 % )', '7% ( 7 % )'], ['services and other', '9% ( 9 % )', '10% ( 10 % )', '11% ( 11 % )'], ['total', '100% ( 100 % )', '100% ( 100 % )', '100% ( 100 % )']]
as described in note 2 in the notes to consolidated financial statements , certain of our licensing arrangements allow customers the ability to remix among software products .additionally , we have arrangements with customers that include a combination of our products , with the actual product selection and number of licensed users to be determined at a later date .for these arrangements , we estimate the allocation of the revenue to product groups based upon the expected usage of our products .the actual usage of our products by these customers may differ and , if that proves to be the case , the revenue allocation in the table above would differ .the changes in the percentage of revenue contributed by the functional verification , hardware and ip product group are generally related to changes in revenue related to our hardware products. .
|
what is the difference in the percentage of product and related maintenance revenue contributed by the functional verification hardware and ip product group in 2010 versus 2012?
|
6%
|
{
"answer": "6%",
"decimal": 0.06,
"type": "percentage"
}
| |
management 2019s discussion and analysis investing & lending investing & lending includes our investing activities and the origination of loans to provide financing to clients .these investments and loans are typically longer-term in nature .we make investments , some of which are consolidated , directly and indirectly through funds that we manage , in debt securities and loans , public and private equity securities , and real estate entities .the table below presents the operating results of our investing & lending segment. .
[['$ in millions', 'year ended december 2014', 'year ended december 2013', 'year ended december 2012'], ['equity securities', '$ 3813', '$ 3930', '$ 2800'], ['debt securities and loans', '2165', '1947', '1850'], ['other1', '847', '1141', '1241'], ['total net revenues', '6825', '7018', '5891'], ['operating expenses', '2819', '2686', '2668'], ['pre-tax earnings', '$ 4006', '$ 4332', '$ 3223']]
1 .includes net revenues of $ 325 million for 2014 , $ 329 million for 2013 and $ 362 million for 2012 related to metro international trade services llc .we completed the sale of this consolidated investment in december 2014 .2014 versus 2013 .net revenues in investing & lending were $ 6.83 billion for 2014 , 3% ( 3 % ) lower than 2013 .net gains from investments in equity securities were slightly lower due to a significant decrease in net gains from investments in public equities , as movements in global equity prices during 2014 were less favorable compared with 2013 , partially offset by an increase in net gains from investments in private equities , primarily driven by company-specific events .net revenues from debt securities and loans were higher than 2013 , reflecting a significant increase in net interest income , primarily driven by increased lending , and a slight increase in net gains , primarily due to sales of certain investments during 2014 .other net revenues , related to our consolidated investments , were significantly lower compared with 2013 , reflecting a decrease in operating revenues from commodities-related consolidated investments .during 2014 , net revenues in investing & lending generally reflected favorable company-specific events , including initial public offerings and financings , and strong corporate performance , as well as net gains from sales of certain investments .however , concerns about the outlook for the global economy and uncertainty over the impact of financial regulatory reform continue to be meaningful considerations for the global marketplace .if equity markets decline or credit spreads widen , net revenues in investing & lending would likely be negatively impacted .operating expenses were $ 2.82 billion for 2014 , 5% ( 5 % ) higher than 2013 , reflecting higher compensation and benefits expenses , partially offset by lower expenses related to consolidated investments .pre-tax earnings were $ 4.01 billion in 2014 , 8% ( 8 % ) lower than 2013 .2013 versus 2012 .net revenues in investing & lending were $ 7.02 billion for 2013 , 19% ( 19 % ) higher than 2012 , reflecting a significant increase in net gains from investments in equity securities , driven by company-specific events and stronger corporate performance , as well as significantly higher global equity prices .in addition , net gains and net interest income from debt securities and loans were slightly higher , while other net revenues , related to our consolidated investments , were lower compared with 2012 .during 2013 , net revenues in investing & lending generally reflected favorable company-specific events and strong corporate performance , as well as the impact of significantly higher global equity prices and tighter corporate credit spreads .operating expenses were $ 2.69 billion for 2013 , essentially unchanged compared with 2012 .operating expenses during 2013 included lower impairment charges and lower operating expenses related to consolidated investments , partially offset by increased compensation and benefits expenses due to higher net revenues compared with 2012 .pre-tax earnings were $ 4.33 billion in 2013 , 34% ( 34 % ) higher than 2012 .goldman sachs 2014 annual report 45 .
|
in millions for 2014 2013 and 2012 , what was the total balance of debt securities and loans?\\n
|
5962
|
{
"answer": "5962",
"decimal": 5962,
"type": "float"
}
| |
notes to consolidated financial statements hedge accounting the firm applies hedge accounting for ( i ) certain interest rate swaps used to manage the interest rate exposure of certain fixed-rate unsecured long-term and short-term borrowings and certain fixed-rate certificates of deposit , ( ii ) certain foreign currency forward contracts and foreign currency-denominated debt used to manage foreign currency exposures on the firm 2019s net investment in certain non-u.s .operations and ( iii ) certain commodities-related swap and forward contracts used to manage the exposure to the variability in cash flows associated with the forecasted sales of certain energy commodities by one of the firm 2019s consolidated investments .to qualify for hedge accounting , the derivative hedge must be highly effective at reducing the risk from the exposure being hedged .additionally , the firm must formally document the hedging relationship at inception and test the hedging relationship at least on a quarterly basis to ensure the derivative hedge continues to be highly effective over the life of the hedging relationship .fair value hedges the firm designates certain interest rate swaps as fair value hedges .these interest rate swaps hedge changes in fair value attributable to the designated benchmark interest rate ( e.g. , london interbank offered rate ( libor ) or ois ) , effectively converting a substantial portion of fixed-rate obligations into floating-rate obligations .the firm applies a statistical method that utilizes regression analysis when assessing the effectiveness of its fair value hedging relationships in achieving offsetting changes in the fair values of the hedging instrument and the risk being hedged ( i.e. , interest rate risk ) .an interest rate swap is considered highly effective in offsetting changes in fair value attributable to changes in the hedged risk when the regression analysis results in a coefficient of determination of 80% ( 80 % ) or greater and a slope between 80% ( 80 % ) and 125% ( 125 % ) .for qualifying fair value hedges , gains or losses on derivatives are included in 201cinterest expense . 201d the change in fair value of the hedged item attributable to the risk being hedged is reported as an adjustment to its carrying value and is subsequently amortized into interest expense over its remaining life .gains or losses resulting from hedge ineffectiveness are included in 201cinterest expense . 201d when a derivative is no longer designated as a hedge , any remaining difference between the carrying value and par value of the hedged item is amortized to interest expense over the remaining life of the hedged item using the effective interest method .see note 23 for further information about interest income and interest expense .the table below presents the gains/ ( losses ) from interest rate derivatives accounted for as hedges , the related hedged borrowings and bank deposits , and the hedge ineffectiveness on these derivatives , which primarily consists of amortization of prepaid credit spreads resulting from the passage of time. .
[['in millions', 'year ended december 2013', 'year ended december 2012', 'year ended december 2011'], ['interest rate hedges', '$ -8683 ( 8683 )', '$ -2383 ( 2383 )', '$ 4679'], ['hedged borrowings and bank deposits', '6999', '665', '-6300 ( 6300 )'], ['hedge ineffectiveness', '$ -1684 ( 1684 )', '$ -1718 ( 1718 )', '$ -1621 ( 1621 )']]
goldman sachs 2013 annual report 149 .
|
in millions for 2013 , 2012 , and 2011 , what was the maximum interest rate hedge?
|
467
|
{
"answer": "467",
"decimal": 467,
"type": "float"
}
| |
2022 triggering our obligation to make payments under any financial guarantee , letter of credit or other credit support we have provided to or on behalf of such subsidiary ; 2022 causing us to record a loss in the event the lender forecloses on the assets ; and 2022 triggering defaults in our outstanding debt at the parent company .for example , our senior secured credit facility and outstanding debt securities at the parent company include events of default for certain bankruptcy related events involving material subsidiaries .in addition , our revolving credit agreement at the parent company includes events of default related to payment defaults and accelerations of outstanding debt of material subsidiaries .some of our subsidiaries are currently in default with respect to all or a portion of their outstanding indebtedness .the total non-recourse debt classified as current in the accompanying consolidated balance sheets amounts to $ 2.2 billion .the portion of current debt related to such defaults was $ 1 billion at december 31 , 2017 , all of which was non-recourse debt related to three subsidiaries 2014 alto maipo , aes puerto rico , and aes ilumina .see note 10 2014debt in item 8 . 2014financial statements and supplementary data of this form 10-k for additional detail .none of the subsidiaries that are currently in default are subsidiaries that met the applicable definition of materiality under aes' corporate debt agreements as of december 31 , 2017 in order for such defaults to trigger an event of default or permit acceleration under aes' indebtedness .however , as a result of additional dispositions of assets , other significant reductions in asset carrying values or other matters in the future that may impact our financial position and results of operations or the financial position of the individual subsidiary , it is possible that one or more of these subsidiaries could fall within the definition of a "material subsidiary" and thereby upon an acceleration trigger an event of default and possible acceleration of the indebtedness under the parent company's outstanding debt securities .a material subsidiary is defined in the company's senior secured revolving credit facility as any business that contributed 20% ( 20 % ) or more of the parent company's total cash distributions from businesses for the four most recently completed fiscal quarters .as of december 31 , 2017 , none of the defaults listed above individually or in the aggregate results in or is at risk of triggering a cross-default under the recourse debt of the company .contractual obligations and parent company contingent contractual obligations a summary of our contractual obligations , commitments and other liabilities as of december 31 , 2017 is presented below and excludes any businesses classified as discontinued operations or held-for-sale ( in millions ) : contractual obligations total less than 1 year more than 5 years other footnote reference ( 4 ) debt obligations ( 1 ) $ 20404 $ 2250 $ 2431 $ 5003 $ 10720 $ 2014 10 interest payments on long-term debt ( 2 ) 9103 1172 2166 1719 4046 2014 n/a .
[['contractual obligations', 'total', 'less than 1 year', '1-3 years', '3-5 years', 'more than 5 years', 'other', 'footnote reference ( 4 )'], ['debt obligations ( 1 )', '$ 20404', '$ 2250', '$ 2431', '$ 5003', '$ 10720', '$ 2014', '10'], ['interest payments on long-term debt ( 2 )', '9103', '1172', '2166', '1719', '4046', '2014', 'n/a'], ['capital lease obligations', '18', '2', '2', '2', '12', '2014', '11'], ['operating lease obligations', '935', '58', '116', '117', '644', '2014', '11'], ['electricity obligations', '4501', '581', '948', '907', '2065', '2014', '11'], ['fuel obligations', '5859', '1759', '1642', '992', '1466', '2014', '11'], ['other purchase obligations', '4984', '1488', '1401', '781', '1314', '2014', '11'], ["other long-term liabilities reflected on aes' consolidated balance sheet under gaap ( 3 )", '701', '2014', '284', '118', '277', '22', 'n/a'], ['total', '$ 46505', '$ 7310', '$ 8990', '$ 9639', '$ 20544', '$ 22', '']]
_____________________________ ( 1 ) includes recourse and non-recourse debt presented on the consolidated balance sheet .these amounts exclude capital lease obligations which are included in the capital lease category .( 2 ) interest payments are estimated based on final maturity dates of debt securities outstanding at december 31 , 2017 and do not reflect anticipated future refinancing , early redemptions or new debt issuances .variable rate interest obligations are estimated based on rates as of december 31 , 2017 .( 3 ) these amounts do not include current liabilities on the consolidated balance sheet except for the current portion of uncertain tax obligations .noncurrent uncertain tax obligations are reflected in the "other" column of the table above as the company is not able to reasonably estimate the timing of the future payments .in addition , these amounts do not include : ( 1 ) regulatory liabilities ( see note 9 2014regulatory assets and liabilities ) , ( 2 ) contingencies ( see note 12 2014contingencies ) , ( 3 ) pension and other postretirement employee benefit liabilities ( see note 13 2014benefit plans ) , ( 4 ) derivatives and incentive compensation ( see note 5 2014derivative instruments and hedging activities ) or ( 5 ) any taxes ( see note 20 2014income taxes ) except for uncertain tax obligations , as the company is not able to reasonably estimate the timing of future payments .see the indicated notes to the consolidated financial statements included in item 8 of this form 10-k for additional information on the items excluded .( 4 ) for further information see the note referenced below in item 8 . 2014financial statements and supplementary data of this form 10-k. .
|
what percentage of total contractual obligations , commitments and other liabilities as of december 31 , 2017 is composed of fuel obligations?
|
13%
|
{
"answer": "13%",
"decimal": 0.13,
"type": "percentage"
}
| |
liquidity and capital resources .
[['cash cash equivalents and short-term investments', '1999 $ 498.7', 'change 83% ( 83 % )', '1998 $ 272.5', 'change ( 46 ) % ( % )', '1997 $ 503.0'], ['working capital', '$ 355.4', '73% ( 73 % )', '$ 205.0', '( 55 ) % ( % )', '$ 454.3'], ["stockholders' equity", '$ 512.2', '( 0.8 ) % ( % )', '$ 516.4', '( 28 ) % ( % )', '$ 715.4']]
our cash , cash equivalents , and short-term investments consist principally of money market mutual funds , municipal bonds , and united states government agency securities .all of our cash equivalents and short-term investments are classified as available-for-sale under the provisions of sfas 115 , 2018 2018accounting for certain investments in debt and equity securities . 2019 2019 the securities are carried at fair value with the unrealized gains and losses , net of tax , included in accumulated other comprehensive income , which is reflected as a separate component of stockholders 2019 equity .our cash , cash equivalents , and short-term investments increased $ 226.2 million , or 83% ( 83 % ) , in fiscal 1999 , primarily due to cash generated from operations of $ 334.2 million , proceeds from the issuance of treasury stock related to the exercise of stock options under our stock option plans and sale of stock under the employee stock purchase plan of $ 142.9 million , and the release of restricted funds totaling $ 130.3 million associated with the refinancing of our corporate headquarters lease agreement .other sources of cash include the proceeds from the sale of equity securities and the sale of a building in the amount of $ 63.9 million and $ 40.6 million , respectively .in addition , short-term investments increased due to a reclassification of $ 46.7 million of investments classified as long-term to short-term as well as mark-to-market adjustments totaling $ 81.2 million .these factors were partially offset by the purchase of treasury stock in the amount of $ 479.2 million , capital expenditures of $ 42.2 million , the purchase of other assets for $ 43.5 million , the purchase of the assets of golive systems and attitude software for $ 36.9 million , and the payment of dividends totaling $ 12.2 million .we expect to continue our investing activities , including expenditures for computer systems for research and development , sales and marketing , product support , and administrative staff .furthermore , cash reserves may be used to purchase treasury stock and acquire software companies , products , or technologies that are complementary to our business .in september 1997 , adobe 2019s board of directors authorized , subject to certain business and market conditions , the purchase of up to 30.0 million shares of our common stock over a two-year period .we repurchased approximately 1.7 million shares in the first quarter of fiscal 1999 , 20.3 million shares in fiscal 1998 , and 8.0 million shares in fiscal 1997 , at a cost of $ 30.5 million , $ 362.4 million , and $ 188.6 million , respectively .this program was completed during the first quarter of fiscal 1999 .in april 1999 , adobe 2019s board of directors authorized , subject to certain business and market conditions , the purchase of up to an additional 5.0 million shares of our common stock over a two-year period .this new stock repurchase program was in addition to an existing program whereby we have been authorized to repurchase shares to offset issuances under employee stock option and stock purchase plans .no purchases have been made under the 5.0 million share repurchase program .under our existing plan to repurchase shares to offset issuances under employee stock plans , we repurchased approximately 11.2 million , 0.7 million , and 4.6 million shares in fiscal 1999 , 1998 , and 1997 , respectively , at a cost of $ 448.7 million , $ 16.8 million , and $ 87.0 million , respectively .we have paid cash dividends on our common stock each quarter since the second quarter of 1988 .adobe 2019s board of directors declared a cash dividend on our common stock of $ 0.025 per common share for each of the four quarters in fiscal 1999 , 1998 , and 1997 .on december 1 , 1997 , we dividended one share of siebel common stock for each 600 shares of adobe common stock held by stockholders of record on october 31 , 1997 .an equivalent cash dividend was paid for holdings of less than 15000 adobe shares and .
|
what is the average purchase price of shares purchased during 1999?
|
17.9
|
{
"answer": "17.9",
"decimal": 17.9,
"type": "float"
}
|
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