Context
stringlengths 523
16k
| Question
stringlengths 26
367
| Answer
stringlengths 1
335
| Ground_truths
dict | Explanation
stringclasses 898
values |
|---|---|---|---|---|
equity compensation plan information the following table presents the equity securities available for issuance under our equity compensation plans as of december 31 , 2015 .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 1424356 $ 33.90 4281952 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', '1424356', '$ 33.90', '4281952'], ['equity compensation plans not approved by security holders ( 3 )', '2014', '2014', '2014'], ['total', '1424356', '$ 33.90', '4281952']]
( 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 , 533397 were subject to stock options and 54191 were stock rights granted under the 2011 plan .in addition , this number includes 35553 stock rights , 10279 restricted stock rights , and 790936 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement .( 2 ) this is the weighted average exercise price of the 533397 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 2016 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 2016 annual meeting of stockholders , to be filed within 120 days after the end of the company 2019s fiscal year. .
|
what portion of the equity compensation plans approved by security holders is to be issued upon exercise of outstanding options warrants and rights?
|
25.0%
|
{
"answer": "25.0%",
"decimal": 0.25,
"type": "percentage"
}
| |
management 2019s discussion and analysis 130 jpmorgan chase & co./2013 annual report wholesale credit portfolio the wholesale credit environment remained favorable throughout 2013 driving an increase in commercial client activity .discipline in underwriting across all areas of lending continues to remain a key point of focus , consistent with evolving market conditions and the firm 2019s risk management activities .the wholesale portfolio is actively managed , in part by conducting ongoing , in-depth reviews of credit quality and of industry , product and client concentrations .during the year , wholesale criticized assets and nonperforming assets decreased from higher levels experienced in 2012 , including a reduction in nonaccrual loans by 39% ( 39 % ) .as of december 31 , 2013 , wholesale exposure ( primarily cib , cb and am ) increased by $ 13.7 billion from december 31 , 2012 , primarily driven by increases of $ 11.4 billion in lending-related commitments and $ 8.4 billion in loans reflecting increased client activity primarily in cb and am .these increases were partially offset by a $ 9.2 billion decrease in derivative receivables .derivative receivables decreased predominantly due to reductions in interest rate derivatives driven by an increase in interest rates and reductions in commodity derivatives due to market movements .the decreases were partially offset by an increase in equity derivatives driven by a rise in equity markets .wholesale credit portfolio december 31 , credit exposure nonperforming ( d ) .
[['december 31 , ( in millions )', 'december 31 , 2013', 'december 31 , 2012', '2013', '2012'], ['loans retained', '$ 308263', '$ 306222', '$ 821', '$ 1434'], ['loans held-for-sale', '11290', '4406', '26', '18'], ['loans at fair value ( a )', '2011', '2555', '197', '265'], ['loans 2013 reported', '321564', '313183', '1044', '1717'], ['derivative receivables', '65759', '74983', '415', '239'], ['receivables from customers and other ( b )', '26744', '23648', '2014', '2014'], ['total wholesale credit-related assets', '414067', '411814', '1459', '1956'], ['lending-related commitments', '446232', '434814', '206', '355'], ['total wholesale credit exposure', '$ 860299', '$ 846628', '$ 1665', '$ 2311'], ['credit portfolio management derivatives notional net ( c )', '$ -27996 ( 27996 )', '$ -27447 ( 27447 )', '$ -5 ( 5 )', '$ -25 ( 25 )'], ['liquid securities and other cash collateral held against derivatives', '-14435 ( 14435 )', '-15201 ( 15201 )', 'na', 'na']]
receivables from customers and other ( b ) 26744 23648 2014 2014 total wholesale credit- related assets 414067 411814 1459 1956 lending-related commitments 446232 434814 206 355 total wholesale credit exposure $ 860299 $ 846628 $ 1665 $ 2311 credit portfolio management derivatives notional , net ( c ) $ ( 27996 ) $ ( 27447 ) $ ( 5 ) $ ( 25 ) liquid securities and other cash collateral held against derivatives ( 14435 ) ( 15201 ) na na ( a ) during 2013 , certain loans that resulted from restructurings that were previously classified as performing were reclassified as nonperforming loans .prior periods were revised to conform with the current presentation .( b ) receivables from customers and other primarily includes margin loans to prime and retail brokerage customers ; these are classified in accrued interest and accounts receivable on the consolidated balance sheets .( c ) represents the net notional amount of protection purchased and sold through credit derivatives used to manage both performing and nonperforming wholesale credit exposures ; these derivatives do not qualify for hedge accounting under u.s .gaap .excludes the synthetic credit portfolio .for additional information , see credit derivatives on pages 137 2013138 , and note 6 on pages 220 2013233 of this annual report .( d ) excludes assets acquired in loan satisfactions. .
|
what was the percentage change in total wholesale credit-related assets from 2012 to 2013?
|
1%
|
{
"answer": "1%",
"decimal": 0.01,
"type": "percentage"
}
| |
as of december 31 , 2013 and 2012 , our liabilities associated with unrecognized tax benefits are not material .we and our subsidiaries file income tax returns in the u.s .federal jurisdiction and various foreign jurisdictions .with few exceptions , the statute of limitations is no longer open for u.s .federal or non-u.s .income tax examinations for the years before 2010 , other than with respect to refunds .u.s .income taxes and foreign withholding taxes have not been provided on earnings of $ 222 million , $ 211 million , and $ 193 million that have not been distributed by our non-u.s .companies as of december 31 , 2013 , 2012 , and 2011 .our intention is to permanently reinvest these earnings , thereby indefinitely postponing their remittance to the u.s .if these earnings were remitted , we estimate that the additional income taxes after foreign tax credits would have been approximately $ 50 million in 2013 , $ 45 million in 2012 , and $ 41 million in 2011 .our federal and foreign income tax payments , net of refunds received , were $ 787 million in 2013 , $ 890 million in 2012 , and $ 722 million in 2011 .our 2013 net payments reflect a $ 550 million refund from the irs primarily attributable to our tax-deductible discretionary pension contributions during the fourth quarter of 2012 ; our 2012 net payments reflect a $ 153 million refund from the irs related to a 2011 capital loss carryback claim ; and our 2011 net payments reflect a $ 250 million refund from the irs related to estimated taxes paid for 2010 .as of december 31 , 2013 and 2012 , we had federal and foreign taxes receivable of $ 313 million and $ 662 million recorded within other current assets on our balance sheet , primarily attributable to our tax-deductible discretionary pension contributions in the fourth quarter of 2013 and 2012 and our debt exchange transaction in the fourth quarter of 2012 .note 9 2013 debt our long-term debt consisted of the following ( in millions ) : .
[['', '2013', '2012'], ['notes with rates from 2.13% ( 2.13 % ) to 6.15% ( 6.15 % ) due 2016 to 2042', '$ 5642', '$ 5642'], ['notes with rates from 7.00% ( 7.00 % ) to 7.75% ( 7.75 % ) due 2016 to 2036', '916', '930'], ['notes with a rate of 7.38% ( 7.38 % ) due 2013', '2014', '150'], ['other debt', '476', '478'], ['total long-term debt', '7034', '7200'], ['less : unamortized discounts', '-882 ( 882 )', '-892 ( 892 )'], ['total long-term debt net of unamortized discounts', '6152', '6308'], ['less : current maturities of long-term debt', '2014', '-150 ( 150 )'], ['total long-term debt net', '$ 6152', '$ 6158']]
in december 2012 , we issued notes totaling $ 1.3 billion with a fixed interest rate of 4.07% ( 4.07 % ) maturing in december 2042 ( the new notes ) in exchange for outstanding notes totaling $ 1.2 billion with interest rates ranging from 5.50% ( 5.50 % ) to 8.50% ( 8.50 % ) maturing in 2023 to 2040 ( the old notes ) .in connection with the exchange , we paid a premium of $ 393 million , of which $ 225 million was paid in cash and $ 168 million was in the form of new notes .this premium , in addition to $ 194 million in remaining unamortized discounts related to the old notes , will be amortized as additional interest expense over the term of the new notes using the effective interest method .we may , at our option , redeem some or all of the new notes at any time by paying the principal amount of notes being redeemed plus a make-whole premium and accrued and unpaid interest .interest on the new notes is payable on june 15 and december 15 of each year , beginning on june 15 , 2013 .the new notes are unsecured senior obligations and rank equally in right of payment with all of our existing and future unsecured and unsubordinated indebtedness .in september 2011 , we issued $ 2.0 billion of long-term notes in a registered public offering and in october 2011 , we used a portion of the proceeds to redeem all of our $ 500 million long-term notes maturing in 2013 .in 2011 , we repurchased $ 84 million of our long-term notes through open-market purchases .we paid premiums of $ 48 million in connection with the early extinguishments of debt , which were recognized in other non-operating income ( expense ) , net .at december 31 , 2013 and 2012 , we had in place with a group of banks a $ 1.5 billion revolving credit facility that expires in august 2016 .we may request and the banks may grant , at their discretion , an increase to the credit facility by an additional amount up to $ 500 million .there were no borrowings outstanding under the credit facility through december 31 , 2013 .borrowings under the credit facility would be unsecured and bear interest at rates based , at our option , on a eurodollar rate or a base rate , as defined in the credit facility .each bank 2019s obligation to make loans under the credit facility is subject .
|
what was the change in millions of total long-term debt net between 2012 and 2013?
|
-6
|
{
"answer": "-6",
"decimal": -6,
"type": "float"
}
| |
cgmhi also has substantial borrowing arrangements consisting of facilities that cgmhi has been advised are available , but where no contractual lending obligation exists .these arrangements are reviewed on an ongoing basis to ensure flexibility in meeting cgmhi 2019s short-term requirements .the company issues both fixed and variable rate debt in a range of currencies .it uses derivative contracts , primarily interest rate swaps , to effectively convert a portion of its fixed rate debt to variable rate debt and variable rate debt to fixed rate debt .the maturity structure of the derivatives generally corresponds to the maturity structure of the debt being hedged .in addition , the company uses other derivative contracts to manage the foreign exchange impact of certain debt issuances .at december 31 , 2008 , the company 2019s overall weighted average interest rate for long-term debt was 3.83% ( 3.83 % ) on a contractual basis and 4.19% ( 4.19 % ) including the effects of derivative contracts .aggregate annual maturities of long-term debt obligations ( based on final maturity dates ) including trust preferred securities are as follows : in millions of dollars 2009 2010 2011 2012 2013 thereafter .
[['in millions of dollars', '2009', '2010', '2011', '2012', '2013', 'thereafter'], ['citigroup parent company', '$ 13463', '$ 17500', '$ 19864', '$ 21135', '$ 17525', '$ 102794'], ['other citigroup subsidiaries', '55853', '16198', '18607', '2718', '4248', '11691'], ['citigroup global markets holdings inc .', '1524', '2352', '1487', '2893', '392', '11975'], ['citigroup funding inc .', '17632', '5381', '2154', '1253', '3790', '7164'], ['total', '$ 88472', '$ 41431', '$ 42112', '$ 27999', '$ 25955', '$ 133624']]
long-term debt at december 31 , 2008 and december 31 , 2007 includes $ 24060 million and $ 23756 million , respectively , of junior subordinated debt .the company formed statutory business trusts under the laws of the state of delaware .the trusts exist for the exclusive purposes of ( i ) issuing trust securities representing undivided beneficial interests in the assets of the trust ; ( ii ) investing the gross proceeds of the trust securities in junior subordinated deferrable interest debentures ( subordinated debentures ) of its parent ; and ( iii ) engaging in only those activities necessary or incidental thereto .upon approval from the federal reserve , citigroup has the right to redeem these securities .citigroup has contractually agreed not to redeem or purchase ( i ) the 6.50% ( 6.50 % ) enhanced trust preferred securities of citigroup capital xv before september 15 , 2056 , ( ii ) the 6.45% ( 6.45 % ) enhanced trust preferred securities of citigroup capital xvi before december 31 , 2046 , ( iii ) the 6.35% ( 6.35 % ) enhanced trust preferred securities of citigroup capital xvii before march 15 , 2057 , ( iv ) the 6.829% ( 6.829 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xviii before june 28 , 2047 , ( v ) the 7.250% ( 7.250 % ) enhanced trust preferred securities of citigroup capital xix before august 15 , 2047 , ( vi ) the 7.875% ( 7.875 % ) enhanced trust preferred securities of citigroup capital xx before december 15 , 2067 , and ( vii ) the 8.300% ( 8.300 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xxi before december 21 , 2067 unless certain conditions , described in exhibit 4.03 to citigroup 2019s current report on form 8-k filed on september 18 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on november 28 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on march 8 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on july 2 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on august 17 , 2007 , in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on november 27 , 2007 , and in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on december 21 , 2007 , respectively , are met .these agreements are for the benefit of the holders of citigroup 2019s 6.00% ( 6.00 % ) junior subordinated deferrable interest debentures due 2034 .citigroup owns all of the voting securities of these subsidiary trusts .these subsidiary trusts have no assets , operations , revenues or cash flows other than those related to the issuance , administration and repayment of the subsidiary trusts and the subsidiary trusts 2019 common securities .these subsidiary trusts 2019 obligations are fully and unconditionally guaranteed by citigroup. .
|
what percentage of total aggregate annual maturities of long-term debt obligations ( based on final maturity dates ) including trust preferred securities due in 2009 are related to citigroup funding inc . ?
|
20%
|
{
"answer": "20%",
"decimal": 0.2,
"type": "percentage"
}
| |
million excluding a gain on a bargain purchase price adjustment on the acquisition of a majority share of our operations in turkey and restructuring costs ) compared with $ 53 million ( $ 72 million excluding restructuring costs ) in 2012 and $ 66 million ( $ 61 million excluding a gain for a bargain purchase price adjustment on an acquisition by our then joint venture in turkey and costs associated with the closure of our etienne mill in france in 2009 ) in 2011 .sales volumes in 2013 were higher than in 2012 reflecting strong demand for packaging in the agricultural markets in morocco and turkey .in europe , sales volumes decreased slightly due to continuing weak demand for packaging in the industrial markets , and lower demand for packaging in the agricultural markets resulting from poor weather conditions .average sales margins were significantly lower due to input costs for containerboard rising ahead of box sales price increases .other input costs were also higher , primarily for energy .operating profits in 2013 and 2012 included net gains of $ 13 million and $ 10 million , respectively , for insurance settlements and italian government grants , partially offset by additional operating costs , related to the earthquakes in northern italy in may 2012 which affected our san felice box plant .entering the first quarter of 2014 , sales volumes are expected to increase slightly reflecting higher demand for packaging in the industrial markets .average sales margins are expected to gradually improve as a result of slight reductions in material costs and planned box price increases .other input costs should be about flat .brazilian industrial packaging includes the results of orsa international paper embalagens s.a. , a corrugated packaging producer in which international paper acquired a 75% ( 75 % ) share in january 2013 .net sales were $ 335 million in 2013 .operating profits in 2013 were a loss of $ 2 million ( a gain of $ 2 million excluding acquisition and integration costs ) .looking ahead to the first quarter of 2014 , sales volumes are expected to be seasonally lower than in the fourth quarter of 2013 .average sales margins should improve reflecting the partial implementation of an announced sales price increase and a more favorable product mix .operating costs and input costs are expected to be lower .asian industrial packaging net sales were $ 400 million in 2013 compared with $ 400 million in 2012 and $ 410 million in 2011 .operating profits for the packaging operations were a loss of $ 5 million in 2013 ( a loss of $ 1 million excluding restructuring costs ) compared with gains of $ 2 million in 2012 and $ 2 million in 2011 .operating profits were favorably impacted in 2013 by higher average sales margins and slightly higher sales volumes compared with 2012 , but these benefits were offset by higher operating costs .looking ahead to the first quarter of 2014 , sales volumes and average sales margins are expected to be seasonally soft .net sales for the distribution operations were $ 285 million in 2013 compared with $ 260 million in 2012 and $ 285 million in 2011 .operating profits were $ 3 million in 2013 , 2012 and 2011 .printing papers demand for printing papers products is closely correlated with changes in commercial printing and advertising activity , direct mail volumes and , for uncoated cut-size products , with changes in white- collar employment levels that affect the usage of copy and laser printer paper .pulp is further affected by changes in currency rates that can enhance or disadvantage producers in different geographic regions .principal cost drivers include manufacturing efficiency , raw material and energy costs and freight costs .printing papers net sales for 2013 were about flat with both 2012 and 2011 .operating profits in 2013 were 55% ( 55 % ) lower than in 2012 and 69% ( 69 % ) lower than in 2011 .excluding facility closure costs and impairment costs , operating profits in 2013 were 15% ( 15 % ) lower than in 2012 and 40% ( 40 % ) lower than in 2011 .benefits from lower operating costs ( $ 81 million ) and lower maintenance outage costs ( $ 17 million ) were more than offset by lower average sales price realizations ( $ 38 million ) , lower sales volumes ( $ 14 million ) , higher input costs ( $ 99 million ) and higher other costs ( $ 34 million ) .in addition , operating profits in 2013 included costs of $ 118 million associated with the announced closure of our courtland , alabama mill .during 2013 , the company accelerated depreciation for certain courtland assets , and diligently evaluated certain other assets for possible alternative uses by one of our other businesses .the net book value of these assets at december 31 , 2013 was approximately $ 470 million .during 2014 , we have continued our evaluation and expect to conclude as to any uses for these assets during the first quarter of 2014 .operating profits also included a $ 123 million impairment charge associated with goodwill and a trade name intangible asset in our india papers business .operating profits in 2011 included a $ 24 million gain related to the announced repurposing of our franklin , virginia mill to produce fluff pulp and an $ 11 million impairment charge related to our inverurie , scotland mill that was closed in 2009 .printing papers .
[['in millions', '2013', '2012', '2011'], ['sales', '$ 6205', '$ 6230', '$ 6215'], ['operating profit', '271', '599', '872']]
north american printing papers net sales were $ 2.6 billion in 2013 , $ 2.7 billion in 2012 and $ 2.8 billion in 2011. .
|
in 2013 what percentage of printing papers sales where attributable to north american printing papers net sales?
|
42%
|
{
"answer": "42%",
"decimal": 0.42,
"type": "percentage"
}
| |
allowance for doubtful accounts is as follows: .
[['', '2010', '2009', '2008'], ['balance at beginning of year', '$ 160', '$ 133', '$ 86'], ['provision', '38', '54', '65'], ['amounts written off', '-13 ( 13 )', '-27 ( 27 )', '-18 ( 18 )'], ['balance at end of year', '$ 185', '$ 160', '$ 133']]
discontinued operations during the fourth quarter of 2009 , schlumberger recorded a net $ 22 million charge related to the resolution of a customs assessment pertaining to its former offshore contract drilling business , as well as the resolution of certain contingencies associated with other previously disposed of businesses .this amount is included in income ( loss ) from discontinued operations in the consolidated statement of income .during the first quarter of 2008 , schlumberger recorded a gain of $ 38 million related to the resolution of a contingency associated with a previously disposed of business .this gain is included in income ( loss ) from discon- tinued operations in the consolidated statement of income .part ii , item 8 .
|
what was the net change in the allowance in doubtful accounts in 2009
|
27
|
{
"answer": "27",
"decimal": 27,
"type": "float"
}
|
the net change for the period is the increase plus the decrease
|
abiomed , inc .and subsidiaries notes to consolidated financial statements 2014 ( continued ) the calculation of diluted weighted-average shares outstanding for the fiscal years ended march 31 , 2004 , 2005 and 2006 excludes potential stock from unexercised stock options that have an exercise price below the average market price as shown below .year ended march 31 , potential dilutive shares from exercise of common stock options .
[['year ended march 31,', 'potential dilutive shares from exercise of common stock options'], ['2004', '222593'], ['2005', '980147'], ['2006', '577845']]
the calculation of diluted weighted average shares outstanding excludes unissued shares of common stock associated with outstanding stock options that have exercise prices greater than the average market price .for the fiscal years ending march 31 , 2004 , 2005 and 2006 , the weighted average number of these potential shares totaled 1908347 , 825014 and 1417130 shares , respectively .the calculation of diluted weighted average shares outstanding for these fiscal years also excludes warrants to purchase 400000 share of common stock issued in connection with the acquisition of intellectual property ( see note 5 ) .( k ) cash and cash equivalents the company classifies any marketable security with a maturity date of 90 days or less at the time of purchase as a cash equivalent .at march 31 , 2005 and march 31 , 2006 , the company had restricted cash of approximately $ 97000 and $ 261000 , respectively , which are included in other assets at march 31 , 2005 and prepaid expenses and other current assets at march 31 , 2006 , respectively .this cash represents security deposits held in the company 2019s european banks for certain facility and auto leases .( l ) marketable securities and long-term investments the company classifies any security with a maturity date of greater than 90 days at the time of purchase as marketable securities and classifies marketable securities with a maturity date of greater than one year from the balance sheet date as long-term investments based upon the ability and intent of the company .in accordance with statement of financial accounting standards ( sfas ) no .115 , accounting for certain investments in debt and equity securities , securities that the company has the positive intent and ability to hold to maturity are reported at amortized cost and classified as held-to-maturity securities .at march 31 , 2006 the held-to-maturity investment portfolio consisted primarily of government securities and corporate bonds with maturities of one year or less .the amortized cost , including interest receivable , and market value of held 2013to-maturity short-term marketable securities were approximately $ 29669000 and $ 29570000 at march 31 , 2005 , and $ 16901000 and $ 16866000 at march 31 , 2006 , respectively .the company has classified its portion of the investment portfolio consisting of corporate asset-backed securities as available-for 2013sale securities .the cost of these securities approximates market value and was $ 4218000 at march 31 , 2005 and $ 6102000 at march 31 , 2006 .principal payments of these available-for-sale securities are typically made on an expected pre-determined basis rather than on the longer contractual maturity date. .
|
at march 31 , 2006 , how much loss could be recognized if they sold the held-to-maturity investment portfolio?
|
99000
|
{
"answer": "99000",
"decimal": 99000,
"type": "float"
}
| |
the pension plan investments are held in a master trust , with the northern trust company .investments in the master trust are valued at fair value , which has been determined based on fair value of the underlying investments of the master trust .investments in securities traded on public security exchanges are valued at their closing market prices on the valuation date ; where no sale was made on the valuation date , the security is generally valued at its most recent bid price .certain short-term investments are carried at cost , which approximates fair value .investments in registered investment companies and common trust funds , which primarily invest in stocks , bonds , and commodity futures , are valued using publicly available market prices for the underlying investments held by these entities .the majority of pension plan assets are invested in equity securities , because equity portfolios have historically provided higher returns than debt and other asset classes over extended time horizons , and are expected to do so in the future .correspondingly , equity investments also entail greater risks than other investments .equity risks are balanced by investing a significant portion of the plan 2019s assets in high quality debt securities .the average quality rating of the debt portfolio exceeded aa as of december 31 , 2008 and 2007 .the debt portfolio is also broadly diversified and invested primarily in u.s .treasury , mortgage , and corporate securities with an intermediate average maturity .the weighted-average maturity of the debt portfolio was 5 years at both december 31 , 2008 and 2007 , respectively .the investment of pension plan assets in securities issued by union pacific is specifically prohibited for both the equity and debt portfolios , other than through index fund holdings .other retirement programs thrift plan 2013 we provide a defined contribution plan ( thrift plan ) to eligible non-union employees and make matching contributions to the thrift plan .we match 50 cents for each dollar contributed by employees up to the first six percent of compensation contributed .our thrift plan contributions were $ 14 million in 2008 , $ 14 million in 2007 , and $ 13 million in 2006 .railroad retirement system 2013 all railroad employees are covered by the railroad retirement system ( the system ) .contributions made to the system are expensed as incurred and amounted to approximately $ 620 million in 2008 , $ 616 million in 2007 , and $ 615 million in 2006 .collective bargaining agreements 2013 under collective bargaining agreements , we provide certain postretirement healthcare and life insurance benefits for eligible union employees .premiums under the plans are expensed as incurred and amounted to $ 49 million in 2008 and $ 40 million in both 2007 and 5 .other income other income included the following for the years ended december 31 : millions of dollars 2008 2007 2006 .
[['millions of dollars', '2008', '2007', '2006'], ['rental income', '$ 87', '$ 68', '$ 83'], ['net gain on non-operating asset dispositions', '41', '52', '72'], ['interest income', '21', '50', '29'], ['sale of receivables fees', '-23 ( 23 )', '-35 ( 35 )', '-33 ( 33 )'], ['non-operating environmental costs and other', '-34 ( 34 )', '-19 ( 19 )', '-33 ( 33 )'], ['total', '$ 92', '$ 116', '$ 118']]
.
|
in 2008 what was the percentage of the total other income attributable to non-operating environmental costs
|
23%
|
{
"answer": "23%",
"decimal": 0.23,
"type": "percentage"
}
| |
shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the sec , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing .the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index , and the dow jones transportation average .the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2008 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock. .
[['', '12/31/2008', '12/31/2009', '12/31/2010', '12/31/2011', '12/31/2012', '12/31/2013'], ['united parcel service inc .', '$ 100.00', '$ 107.75', '$ 140.39', '$ 145.84', '$ 151.44', '$ 221.91'], ['standard & poor 2019s 500 index', '$ 100.00', '$ 126.45', '$ 145.49', '$ 148.55', '$ 172.30', '$ 228.09'], ['dow jones transportation average', '$ 100.00', '$ 118.59', '$ 150.30', '$ 150.31', '$ 161.56', '$ 228.42']]
.
|
what is the difference in performance for the five years ended 12/21/2013 between united parcel service inc . and the standard & poor's 500 index?
|
-5.18
|
{
"answer": "-5.18",
"decimal": -5.18,
"type": "float"
}
| |
jpmorgan chase & co./2010 annual report 197 the following table shows the current credit risk of derivative receivables after netting adjustments , and the current liquidity risk of derivative payables after netting adjustments , as of december 31 , 2010 and 2009. .
[['december 31 ( in millions )', 'derivative receivables 2010', 'derivative receivables 2009', 'derivative receivables 2010', '2009'], ['gross derivative fair value', '$ 1529412', '$ 1565518', '$ 1485109', '$ 1519183'], ['netting adjustment 2013offsettingreceivables/payables', '-1376969 ( 1376969 )', '-1419840 ( 1419840 )', '-1376969 ( 1376969 )', '-1419840 ( 1419840 )'], ['netting adjustment 2013 cashcollateral received/paid', '-71962 ( 71962 )', '-65468 ( 65468 )', '-38921 ( 38921 )', '-39218 ( 39218 )'], ['carrying value onconsolidated balancesheets', '$ 80481', '$ 80210', '$ 69219', '$ 60125']]
in addition to the collateral amounts reflected in the table above , at december 31 , 2010 and 2009 , the firm had received liquid securi- ties and other cash collateral in the amount of $ 16.5 billion and $ 15.5 billion , respectively , and had posted $ 10.9 billion and $ 11.7 billion , respectively .the firm also receives and delivers collateral at the initiation of derivative transactions , which is available as secu- rity against potential exposure that could arise should the fair value of the transactions move in the firm 2019s or client 2019s favor , respectively .furthermore , the firm and its counterparties hold collateral related to contracts that have a non-daily call frequency for collateral to be posted , and collateral that the firm or a counterparty has agreed to return but has not yet settled as of the reporting date .at december 31 , 2010 and 2009 , the firm had received $ 18.0 billion and $ 16.9 billion , respectively , and delivered $ 8.4 billion and $ 5.8 billion , respectively , of such additional collateral .these amounts were not netted against the derivative receivables and payables in the table above , because , at an individual counterparty level , the collateral exceeded the fair value exposure at december 31 , 2010 and 2009 .credit derivatives credit derivatives are financial instruments whose value is derived from the credit risk associated with the debt of a third-party issuer ( the reference entity ) and which allow one party ( the protection purchaser ) to transfer that risk to another party ( the protection seller ) .credit derivatives expose the protection purchaser to the creditworthiness of the protection seller , as the protection seller is required to make payments under the contract when the reference entity experiences a credit event , such as a bankruptcy , a failure to pay its obligation or a restructuring .the seller of credit protection receives a premium for providing protection but has the risk that the underlying instrument referenced in the contract will be subject to a credit event .the firm is both a purchaser and seller of protection in the credit derivatives market and uses these derivatives for two primary purposes .first , in its capacity as a market-maker in the dealer/client business , the firm actively risk manages a portfolio of credit derivatives by purchasing and selling credit protection , pre- dominantly on corporate debt obligations , to meet the needs of customers .as a seller of protection , the firm 2019s exposure to a given reference entity may be offset partially , or entirely , with a contract to purchase protection from another counterparty on the same or similar reference entity .second , the firm uses credit derivatives to mitigate credit risk associated with its overall derivative receivables and traditional commercial credit lending exposures ( loans and unfunded commitments ) as well as to manage its exposure to residential and commercial mortgages .see note 3 on pages 170 2013 187 of this annual report for further information on the firm 2019s mortgage-related exposures .in accomplishing the above , the firm uses different types of credit derivatives .following is a summary of various types of credit derivatives .credit default swaps credit derivatives may reference the credit of either a single refer- ence entity ( 201csingle-name 201d ) or a broad-based index .the firm purchases and sells protection on both single- name and index- reference obligations .single-name cds and index cds contracts are otc derivative contracts .single-name cds are used to manage the default risk of a single reference entity , while index cds con- tracts are used to manage the credit risk associated with the broader credit markets or credit market segments .like the s&p 500 and other market indices , a cds index comprises a portfolio of cds across many reference entities .new series of cds indices are periodically established with a new underlying portfolio of reference entities to reflect changes in the credit markets .if one of the refer- ence entities in the index experiences a credit event , then the reference entity that defaulted is removed from the index .cds can also be referenced against specific portfolios of reference names or against customized exposure levels based on specific client de- mands : for example , to provide protection against the first $ 1 million of realized credit losses in a $ 10 million portfolio of expo- sure .such structures are commonly known as tranche cds .for both single-name cds contracts and index cds contracts , upon the occurrence of a credit event , under the terms of a cds contract neither party to the cds contract has recourse to the reference entity .the protection purchaser has recourse to the protection seller for the difference between the face value of the cds contract and the fair value of the reference obligation at the time of settling the credit derivative contract , also known as the recovery value .the protection purchaser does not need to hold the debt instrument of the underlying reference entity in order to receive amounts due under the cds contract when a credit event occurs .credit-related notes a credit-related note is a funded credit derivative where the issuer of the credit-related note purchases from the note investor credit protec- tion on a referenced entity .under the contract , the investor pays the issuer the par value of the note at the inception of the transaction , and in return , the issuer pays periodic payments to the investor , based on the credit risk of the referenced entity .the issuer also repays the investor the par value of the note at maturity unless the reference entity experiences a specified credit event .if a credit event .
|
in 2010 what was the ratio of the firms other cash collateral received to the amount posted
|
1.51
|
{
"answer": "1.51",
"decimal": 1.51,
"type": "float"
}
| |
state street bank issuances : state street bank currently has authority to issue up to an aggregate of $ 1 billion of subordinated fixed-rate , floating-rate or zero-coupon bank notes with a maturity of five to fifteen years .with respect to the 5.25% ( 5.25 % ) subordinated bank notes due 2018 , state street bank is required to make semi-annual interest payments on the outstanding principal balance of the notes on april 15 and october 15 of each year , and the notes qualify as tier 2 capital under regulatory capital guidelines .with respect to the 5.30% ( 5.30 % ) subordinated notes due 2016 and the floating-rate subordinated notes due 2015 , state street bank is required to make semi-annual interest payments on the outstanding principal balance of the 5.30% ( 5.30 % ) notes on january 15 and july 15 of each year beginning in july 2006 , and quarterly interest payments on the outstanding principal balance of the floating-rate notes on march 8 , june 8 , september 8 and december 8 of each year beginning in march 2006 .the notes qualify as tier 2 capital under regulatory capital guidelines .note 10 .commitments and contingencies off-balance sheet commitments and contingencies : credit-related financial instruments include indemnified securities financing , unfunded commitments to extend credit or purchase assets and standby letters of credit .the total potential loss on unfunded commitments , standby and commercial letters of credit and securities finance indemnifications is equal to the total contractual amount , which does not consider the value of any collateral .the following is a summary of the contractual amount of credit-related , off-balance sheet financial instruments at december 31 .amounts reported do not reflect participations to unrelated third parties. .
[['( in millions )', '2006', '2005'], ['indemnified securities financing', '$ 506032', '$ 372863'], ['liquidity asset purchase agreements', '30251', '24412'], ['unfunded commitments to extend credit', '16354', '14403'], ['standby letters of credit', '4926', '5027']]
on behalf of our customers , we lend their securities to creditworthy brokers and other institutions .in certain circumstances , we may indemnify our customers for the fair market value of those securities against a failure of the borrower to return such securities .collateral funds received in connection with our securities finance services are held by us as agent and are not recorded in our consolidated statement of condition .we require the borrowers to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the fair market value of the securities borrowed .the borrowed securities are revalued daily to determine if additional collateral is necessary .we held , as agent , cash and u.s .government securities totaling $ 527.37 billion and $ 387.22 billion as collateral for indemnified securities on loan at december 31 , 2006 and 2005 , respectively .approximately 81% ( 81 % ) of the unfunded commitments to extend credit and liquidity asset purchase agreements expire within one year from the date of issue .since many of the commitments are expected to expire or renew without being drawn upon , the total commitment amounts do not necessarily represent future cash requirements .in the normal course of business , we provide liquidity and credit enhancements to asset-backed commercial paper programs , or 201cconduits . 201d these conduits are more fully described in note 11 .the commercial paper issuances and commitments of the conduits to provide funding are supported by liquidity asset purchase agreements and backup liquidity lines of credit , the majority of which are provided by us .in addition , we provide direct credit support to the conduits in the form of standby letters of credit .our commitments under liquidity asset purchase agreements and backup lines of credit totaled $ 23.99 billion at december 31 , 2006 , and are included in the preceding table .our commitments under seq 83 copyarea : 38 .x 54 .trimsize : 8.25 x 10.75 typeset state street corporation serverprocess c:\\fc\\delivery_1024177\\2771-1-dm_p.pdf chksum : 0 cycle 1merrill corporation 07-2771-1 thu mar 01 17:10:46 2007 ( v 2.247w--stp1pae18 ) .
|
what is the total of credit-related financial instruments in 2006? ( $ )
|
557563
|
{
"answer": "557563",
"decimal": 557563,
"type": "float"
}
| |
( a ) excludes discontinued operations .( b ) earnings before interest expense and taxes as a percent of average total assets .( c ) total debt as a percent of the sum of total debt , shareholders 2019 equity and non-current deferred income tax liabilities .the results above include the impact of the specified items detailed below .additional discussion regarding the specified items in fiscal years 2017 , 2016 and 2015 are provided in item 7 .management 2019s discussion and analysis of financial condition and results of operations. .
[['millions of dollars except per share amounts', 'years ended september 30 2017', 'years ended september 30 2016', 'years ended september 30 2015', 'years ended september 30 2014', 'years ended september 30 2013'], ['total specified items', '$ 1466', '$ 1261', '$ 1186', '$ 153', '$ 442'], ['after-tax impact of specified items', '$ 971', '$ 892', '$ 786', '$ 101', '$ 279'], ['impact of specified items on diluted earnings per share', '$ -4.34 ( 4.34 )', '$ -4.10 ( 4.10 )', '$ -3.79 ( 3.79 )', '$ -0.51 ( 0.51 )', '$ -1.40 ( 1.40 )'], ['impact of dilution from share issuances', '$ -0.54 ( 0.54 )', '$ 2014', '$ -0.02 ( 0.02 )', '$ 2014', '$ 2014']]
item 7 .management 2019s discussion and analysis of financial condition and results of operations the following commentary should be read in conjunction with the consolidated financial statements and accompanying notes .within the tables presented throughout this discussion , certain columns may not add due to the use of rounded numbers for disclosure purposes .percentages and earnings per share amounts presented are calculated from the underlying amounts .references to years throughout this discussion relate to our fiscal years , which end on september 30 .company overview description of the company and business segments becton , dickinson and company ( 201cbd 201d ) is a global medical technology company engaged in the development , manufacture and sale of a broad range of medical supplies , devices , laboratory equipment and diagnostic products used by healthcare institutions , life science researchers , clinical laboratories , the pharmaceutical industry and the general public .the company's organizational structure is based upon two principal business segments , bd medical ( 201cmedical 201d ) and bd life sciences ( 201clife sciences 201d ) .bd 2019s products are manufactured and sold worldwide .our products are marketed in the united states and internationally through independent distribution channels and directly to end-users by bd and independent sales representatives .we organize our operations outside the united states as follows : europe ; ema ( which includes the commonwealth of independent states , the middle east and africa ) ; greater asia ( which includes japan and asia pacific ) ; latin america ( which includes mexico , central america , the caribbean , and south america ) ; and canada .we continue to pursue growth opportunities in emerging markets , which include the following geographic regions : eastern europe , the middle east , africa , latin america and certain countries within asia pacific .we are primarily focused on certain countries whose healthcare systems are expanding , in particular , china and india .strategic objectives bd remains focused on delivering sustainable growth and shareholder value , while making appropriate investments for the future .bd management operates the business consistent with the following core strategies : 2022 to increase revenue growth by focusing on our core products , services and solutions that deliver greater benefits to patients , healthcare workers and researchers; .
|
based on the management 2019s discussion and analysis of financial condition and results of operations what wa steh approximate tax expense of the total specified items in 2018 in millions
|
495
|
{
"answer": "495",
"decimal": 495,
"type": "float"
}
| |
version 5 2022 9/11/14 2022 last revised by : saul bernstein 68 the est{e lauder companies inc .correlations calculated over the past 250-day period .the high , low and average measured value-at-risk during fiscal 2014 related to our foreign exchange contracts is as follows: .
[['( in millions )', 'year ended june 30 2014 high', 'year ended june 30 2014 low', 'year ended june 30 2014 average'], ['foreign exchange contracts', '$ 27.4', '$ 7.4', '$ 18.9']]
foreign exchange contracts $ 27.4 $ 7.4 $ 18.9 the model estimates were made assuming normal market conditions and a 95 percent confidence level .we used a statistical simulation model that valued our derivative financial instruments against one thousand randomly gen- erated market price paths .our calculated value-at-risk exposure represents an estimate of reasonably possible net losses that would be recognized on our portfolio of derivative financial instruments 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 fluctuations in market rates , operating exposures , and the timing thereof , and changes in our portfolio of derivative financial 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 financial instrument was intended .off-balance sheet arrangements we do not maintain any off-balance sheet arrangements , transactions , obligations or other relationships with unconsolidated entities , other than operating leases , that would be expected to have a material current or future effect upon our financial condition or results of operations .recently issued accounting standards refer to 201cnote 2 2014 summary of significant accounting policies 201d of notes to consolidated financial statements for discussion regarding the impact of accounting stan- dards that were recently issued but not yet effective , on our consolidated financial statements .forward-looking information we and our representatives from time to time make written or oral forward-looking statements , including statements contained in this and other filings with the securities and exchange commission , in our press releases and in our reports to stockholders .the words and phrases 201cwill likely result , 201d 201cexpect , 201d 201cbelieve , 201d 201cplanned , 201d 201cmay , 201d 201cshould , 201d 201ccould , 201d 201canticipate , 201d 201cestimate , 201d 201cproject , 201d 201cintend , 201d 201cforecast 201d or similar expressions are intended to identify 201cforward-looking statements 201d within the meaning of the private securities litigation reform act of 1995 .these statements include , without limitation , our expectations regarding sales , earn- ings or other future financial performance and liquidity , product introductions , entry into new geographic regions , information systems initiatives , new methods of sale , our long-term strategy , restructuring and other charges and resulting cost savings , and future operations or operating results .although we believe that our expectations are based on reasonable assumptions within the bounds of our knowledge of our business and operations , actual results may differ materially from our expectations .factors that could cause actual results to differ from expectations include , without limitation : ( 1 ) increased competitive activity from companies in the skin care , makeup , fragrance and hair care businesses , some of which have greater resources than we do ; ( 2 ) our ability to develop , produce and market new prod- ucts on which future operating results may depend and to successfully address challenges in our business ; ( 3 ) consolidations , restructurings , bankruptcies and reorganizations in the retail industry causing a decrease in the number of stores that sell our products , an increase in the ownership concentration within the retail industry , ownership of retailers by our competitors or ownership of competitors by our customers that are retailers and our inability to collect receivables ; ( 4 ) destocking and tighter working capital management by retailers ; ( 5 ) the success , or changes in timing or scope , of new product launches and the success , or changes in the tim- ing or the scope , of advertising , sampling and merchan- dising programs ; ( 6 ) shifts in the preferences of consumers as to where and how they shop for the types of products and services we sell ; ( 7 ) social , political and economic risks to our foreign or domestic manufacturing , distribution and retail opera- tions , including changes in foreign investment and trade policies and regulations of the host countries and of the united states ; 77840es_fin.indd 68 9/12/14 5:11 pm .
|
what is the variation observed in the low and average foreign exchange contracts , in millions of dollars?
|
11.5
|
{
"answer": "11.5",
"decimal": 11.5,
"type": "float"
}
|
it is the difference between those values .
|
page 31 of 98 additional details about the company 2019s receivables sales agreement and debt are available in notes 6 and 12 , respectively , accompanying the consolidated financial statements within item 8 of this report .other liquidity items cash payments required for long-term debt maturities , rental payments under noncancellable operating leases and purchase obligations in effect at december 31 , 2006 , are summarized in the following table: .
[['( $ in millions )', 'payments due by period ( a ) total', 'payments due by period ( a ) less than1 year', 'payments due by period ( a ) 1-3 years', 'payments due by period ( a ) 3-5 years', 'payments due by period ( a ) more than 5 years'], ['long-term debt', '$ 2301.6', '$ 38.5', '$ 278.4', '$ 972.9', '$ 1011.8'], ['capital lease obligations', '7.6', '2.7', '2.4', '0.4', '2.1'], ['interest payments on long-term debt ( b )', '826.5', '138.8', '259.4', '204.8', '223.5'], ['operating leases', '185.9', '45.0', '58.5', '38.7', '43.7'], ['purchase obligations ( c )', '7450.4', '2682.5', '3169.4', '1524.6', '73.9'], ['total payments on contractual obligations', '$ 10772.0', '$ 2907.5', '$ 3768.1', '$ 2741.4', '$ 1355.0']]
total payments on contractual obligations $ 10772.0 $ 2907.5 $ 3768.1 $ 2741.4 $ 1355.0 ( a ) amounts reported in local currencies have been translated at the year-end exchange rates .( b ) for variable rate facilities , amounts are based on interest rates in effect at year end .( c ) the company 2019s purchase obligations include contracted amounts for aluminum , steel , plastic resin and other direct materials .also included are commitments for purchases of natural gas and electricity , aerospace and technologies contracts and other less significant items .in cases where variable prices and/or usage are involved , management 2019s best estimates have been used .depending on the circumstances , early termination of the contracts may not result in penalties and , therefore , actual payments could vary significantly .contributions to the company 2019s defined benefit pension plans , not including the unfunded german plans , are expected to be $ 69.1 million in 2007 .this estimate may change based on plan asset performance .benefit payments related to these plans are expected to be $ 62.6 million , $ 65.1 million , $ 68.9 million , $ 73.9 million and $ 75.1 million for the years ending december 31 , 2007 through 2011 , respectively , and $ 436.7 million combined for 2012 through 2016 .payments to participants in the unfunded german plans are expected to be $ 24.6 million , $ 25.1 million , $ 25.5 million , $ 25.9 million and $ 26.1 million in the years 2007 through 2011 , respectively , and a total of $ 136.6 million thereafter .we reduced our share repurchase program in 2006 to $ 45.7 million , net of issuances , compared to $ 358.1 million net repurchases in 2005 and $ 50 million in 2004 .the net repurchases in 2006 did not include a forward contract entered into in december 2006 for the repurchase of 1200000 shares .the contract was settled on january 5 , 2007 , for $ 51.9 million in cash .in 2007 we expect to repurchase approximately $ 175 million , net of issuances , and to reduce debt levels by more than $ 125 million .annual cash dividends paid on common stock were 40 cents per share in 2006 and 2005 and 35 cents per share in 2004 .total dividends paid were $ 41 million in 2006 , $ 42.5 million in 2005 and $ 38.9 million in 2004. .
|
how much cash would the company have retained had it not paid dividends in 2006 , 2005 , and 2004 ( in millions? )
|
122.4
|
{
"answer": "122.4",
"decimal": 122.4,
"type": "float"
}
| |
performance graph this graph compares the return on lilly stock with that of the standard & poor 2019s 500 stock index and our peer group for the years 2014 through 2018 .the graph assumes that , on december 31 , 2013 , a person invested $ 100 each in lilly stock , the s&p 500 stock index , and the peer groups' common stock .the graph measures total shareholder return , which takes into account both stock price and dividends .it assumes that dividends paid by a company are reinvested in that company 2019s stock .value of $ 100 invested on last business day of 2013 comparison of five-year cumulative total return among lilly , s&p 500 stock index , peer group ( 1 ) .
[['', 'lilly', 'peer group', 's&p 500'], ['dec-13', '$ 100.00', '$ 100.00', '$ 100.00'], ['dec-14', '$ 139.75', '$ 114.39', '$ 113.69'], ['dec-15', '$ 175.21', '$ 116.56', '$ 115.26'], ['dec-16', '$ 157.03', '$ 112.80', '$ 129.05'], ['dec-17', '$ 185.04', '$ 128.90', '$ 157.22'], ['dec-18', '$ 259.88', '$ 136.56', '$ 150.33']]
( 1 ) we constructed the peer group as the industry index for this graph .it comprises the companies in the pharmaceutical and biotech industries that we used to benchmark the compensation of our executive officers for 2018 : abbvie inc. ; amgen inc. ; astrazeneca plc ; baxter international inc. ; biogen idec inc. ; bristol-myers squibb company ; celgene corporation ; gilead sciences inc. ; glaxosmithkline plc ; johnson & johnson ; medtronic plc ; merck & co. , inc. ; novartis ag. ; pfizer inc. ; roche holdings ag ; sanofi ; and shire plc. .
|
what was the difference in percentage return for lilly compared to the peer group for the five years ended dec-18?
|
123.32%
|
{
"answer": "123.32%",
"decimal": 1.2331999999999999,
"type": "percentage"
}
| |
part i berths at the end of 2011 .there are approximately 10 ships with an estimated 34000 berths that are expected to be placed in service in the north american cruise market between 2012 and 2016 .europe in europe , cruising represents a smaller but growing sector of the vacation industry .it has experienced a compound annual growth rate in cruise guests of approximately 9.6% ( 9.6 % ) from 2007 to 2011 and we believe this market has significant continued growth poten- tial .we estimate that europe was served by 104 ships with approximately 100000 berths at the beginning of 2007 and by 121 ships with approximately 155000 berths at the end of 2011 .there are approximately 10 ships with an estimated 28000 berths that are expected to be placed in service in the european cruise market between 2012 and 2016 .the following table details the growth in the global , north american and european cruise markets in terms of cruise guests and estimated weighted-average berths over the past five years : global cruise guests ( 1 ) weighted-average supply of berths marketed globally ( 1 ) north american cruise guests ( 2 ) weighted-average supply of berths marketed in north america ( 1 ) european cruise guests ( 3 ) weighted-average supply of berths marketed in europe ( 1 ) .
[['year', 'global cruiseguests ( 1 )', 'weighted-averagesupplyofberthsmarketedglobally ( 1 )', 'northamericancruiseguests ( 2 )', 'weighted-average supply ofberths marketedin northamerica ( 1 )', 'europeancruiseguests', 'weighted-averagesupply ofberthsmarketed ineurope ( 1 )'], ['2007', '16586000', '327000', '10247000', '212000', '4080000', '105000'], ['2008', '17184000', '347000', '10093000', '219000', '4500000', '120000'], ['2009', '17340000', '363000', '10198000', '222000', '5000000', '131000'], ['2010', '18800000', '391000', '10781000', '232000', '5540000', '143000'], ['2011', '20227000', '412000', '11625000', '245000', '5894000', '149000']]
( 1 ) source : our estimates of the number of global cruise guests , and the weighted-average supply of berths marketed globally , in north america and europe are based on a combination of data that we obtain from various publicly available cruise industry trade information sources including seatrade insider and cruise line international association .in addition , our estimates incorporate our own statistical analysis utilizing the same publicly available cruise industry data as a base .( 2 ) source : cruise line international association based on cruise guests carried for at least two consecutive nights for years 2007 through 2010 .year 2011 amounts represent our estimates ( see number 1 above ) .( 3 ) source : european cruise council for years 2007 through 2010 .year 2011 amounts represent our estimates ( see number 1 above ) .other markets in addition to expected industry growth in north america and europe as discussed above , we expect the asia/pacific region to demonstrate an even higher growth rate in the near term , although it will continue to represent a relatively small sector compared to north america and europe .we compete with a number of cruise lines ; however , our principal competitors are carnival corporation & plc , which owns , among others , aida cruises , carnival cruise lines , costa cruises , cunard line , holland america line , iberocruceros , p&o cruises and princess cruises ; disney cruise line ; msc cruises ; norwegian cruise line and oceania cruises .cruise lines compete with other vacation alternatives such as land-based resort hotels and sightseeing destinations for consum- ers 2019 leisure time .demand for such activities is influ- enced by political and general economic conditions .companies within the vacation market are dependent on consumer discretionary spending .operating strategies our principal operating strategies are to : and employees and protect the environment in which our vessels and organization operate , to better serve our global guest base and grow our business , order to enhance our revenues while continuing to expand and diversify our guest mix through interna- tional guest sourcing , and ensure adequate cash and liquidity , with the overall goal of maximizing our return on invested capital and long-term shareholder value , our brands throughout the world , revitalization of existing ships and the transfer of key innovations across each brand , while expanding our fleet with the new state-of-the-art cruise ships recently delivered and on order , by deploying them into those markets and itineraries that provide opportunities to optimize returns , while continuing our focus on existing key markets , support ongoing operations and initiatives , and the principal industry distribution channel , while enhancing our consumer outreach programs. .
|
what was the percent of the anticipated increased in the berths capacity to service european cruise market between 2012 and 2016
|
18.1%
|
{
"answer": "18.1%",
"decimal": 0.18100000000000002,
"type": "percentage"
}
| |
credit commitments the table below summarizes citigroup 2019s other commitments as of december 31 , 2008 and december 31 , 2007 .in millions of dollars u.s .outside december 31 , december 31 .
[['in millions of dollars', 'u.s .', 'outside u.s .', 'december 31 2008', 'december 31 2007'], ['commercial and similar letters of credit', '$ 2187', '$ 6028', '$ 8215', '$ 9175'], ['one- to four-family residential mortgages', '628', '309', '937', '4587'], ['revolving open-end loans secured by one- to four-family residential properties', '22591', '2621', '25212', '35187'], ['commercial real estate construction and land development', '2084', '618', '2702', '4834'], ['credit card lines', '867261', '135176', '1002437', '1103535'], ['commercial and other consumer loan commitments', '217818', '92179', '309997', '473631'], ['total', '$ 1112569', '$ 236931', '$ 1349500', '$ 1630949']]
the majority of unused commitments are contingent upon customers 2019 maintaining specific credit standards .commercial commitments generally have floating interest rates and fixed expiration dates and may require payment of fees .such fees ( net of certain direct costs ) are deferred and , upon exercise of the commitment , amortized over the life of the loan or , if exercise is deemed remote , amortized over the commitment period .commercial and similar letters of credit a commercial letter of credit is an instrument by which citigroup substitutes its credit for that of a customer to enable the customer to finance the purchase of goods or to incur other commitments .citigroup issues a letter on behalf of its client to a supplier and agrees to pay the supplier upon presentation of documentary evidence that the supplier has performed in accordance with the terms of the letter of credit .when drawn , the customer then is required to reimburse citigroup .one- to four-family residential mortgages a one- to four-family residential mortgage commitment is a written confirmation from citigroup to a seller of a property that the bank will advance the specified sums enabling the buyer to complete the purchase .revolving open-end loans secured by one- to four-family residential properties revolving open-end loans secured by one- to four-family residential properties are essentially home equity lines of credit .a home equity line of credit is a loan secured by a primary residence or second home to the extent of the excess of fair market value over the debt outstanding for the first mortgage .commercial real estate , construction and land development commercial real estate , construction and land development include unused portions of commitments to extend credit for the purpose of financing commercial and multifamily residential properties as well as land development projects .both secured-by-real-estate and unsecured commitments are included in this line .in addition , undistributed loan proceeds , where there is an obligation to advance for construction progress , payments are also included in this line .however , this line only includes those extensions of credit that once funded will be classified as loans on the consolidated balance sheet .credit card lines citigroup provides credit to customers by issuing credit cards .the credit card lines are unconditionally cancellable by the issuer .commercial and other consumer loan commitments commercial and other consumer loan commitments include commercial commitments to make or purchase loans , to purchase third-party receivables and to provide note issuance or revolving underwriting facilities .amounts include $ 140 billion and $ 259 billion with an original maturity of less than one year at december 31 , 2008 and december 31 , 2007 , respectively .in addition , included in this line item are highly leveraged financing commitments which are agreements that provide funding to a borrower with higher levels of debt ( measured by the ratio of debt capital to equity capital of the borrower ) than is generally considered normal for other companies .this type of financing is commonly employed in corporate acquisitions , management buy-outs and similar transactions. .
|
what percentage of citigroup 2019s total other commitments as of december 31 , 2008 are outside the u.s.?
|
18%
|
{
"answer": "18%",
"decimal": 0.18,
"type": "percentage"
}
| |
marathon oil corporation notes to consolidated financial statements restricted stock awards the following is a summary of restricted stock award activity .awards weighted-average grant date fair value .
[['', 'awards', 'weighted-averagegrant datefair value'], ['unvested at december 31 2008', '2049255', '$ 47.72'], ['granted', '251335', '24.74'], ['vested', '-762466 ( 762466 )', '46.03'], ['forfeited', '-96625 ( 96625 )', '43.56'], ['unvested at december 31 2009', '1441499', '44.89']]
the vesting date fair value of restricted stock awards which vested during 2009 , 2008 and 2007 was $ 24 million , $ 38 million and $ 29 million .the weighted average grant date fair value of restricted stock awards was $ 44.89 , $ 47.72 , and $ 39.87 for awards unvested at december 31 , 2009 , 2008 and 2007 .as of december 31 , 2009 , there was $ 43 million of unrecognized compensation cost related to restricted stock awards which is expected to be recognized over a weighted average period of 1.6 years .stock-based performance awards all stock-based performance awards have either vested or been forfeited .the vesting date fair value of stock- based performance awards which vested during 2007 was $ 38 .24 .stockholders 2019 equity in each year , 2009 and 2008 , we issued 2 million in common stock upon the redemption of the exchangeable shares described below in addition to treasury shares issued for employee stock-based awards .the board of directors has authorized the repurchase of up to $ 5 billion of marathon common stock .purchases under the program may be in either open market transactions , including block purchases , or in privately negotiated transactions .we will use cash on hand , cash generated from operations , proceeds from potential asset sales or cash from available borrowings to acquire shares .this program may be changed based upon our financial condition or changes in market conditions and is subject to termination prior to completion .the repurchase program does not include specific price targets or timetables .as of december 31 , 2009 , we have acquired 66 million common shares at a cost of $ 2922 million under the program .no shares have been acquired since august 2008 .securities exchangeable into marathon common stock 2013 as discussed in note 6 , we acquired all of the outstanding shares of western on october 18 , 2007 .the western shareholders who were canadian residents received , at their election , cash , marathon common stock , securities exchangeable into marathon common stock ( the 201cexchangeable shares 201d ) or a combination thereof .the western shareholders elected to receive 5 million exchangeable shares as part of the acquisition consideration .the exchangeable shares are shares of an indirect canadian subsidiary of marathon and , at the acquisition date , were exchangeable on a one-for-one basis into marathon common stock .subsequent to the acquisition , the exchange ratio is adjusted to reflect cash dividends , if any , paid on marathon common stock and cash dividends , if any , paid on the exchangeable shares .the exchange ratio at december 31 , 2009 , was 1.06109 common shares for each exchangeable share .the exchangeable shares are exchangeable at the option of the holder at any time and are automatically redeemable on october 18 , 2011 .holders of exchangeable shares are entitled to instruct a trustee to vote ( or obtain a proxy from the trustee to vote directly ) on all matters submitted to the holders of marathon common stock .the number of votes to which each holder is entitled is equal to the whole number of shares of marathon common stock into which such holder 2019s exchangeable shares would be exchangeable based on the exchange ratio in effect on the record date for the vote .the voting right is attached to voting preferred shares of marathon that were issued to a trustee in an amount .
|
according to the above listed weighted average grant date fair value , by what percentage did the value of unvested restricted stock awards decrease from 2008 to 2009?
|
-33.8%
|
{
"answer": "-33.8%",
"decimal": -0.33799999999999997,
"type": "percentage"
}
| |
on november 1 , 2016 , management evaluated the net assets of alcoa corporation for potential impairment and determined that no impairment charge was required .the cash flows related to alcoa corporation have not been segregated and are included in the statement of consolidated cash flows for 2016 .the following table presents depreciation , depletion and amortization , restructuring and other charges , and purchases of property , plant and equipment of the discontinued operations related to alcoa corporation: .
[['for the year ended december 31,', '2016'], ['depreciation depletion and amortization', '$ 593'], ['restructuring and other charges', '$ 102'], ['capital expenditures', '$ 298']]
w .subsequent events management evaluated all activity of arconic and concluded that no subsequent events have occurred that would require recognition in the consolidated financial statements or disclosure in the notes to the consolidated financial statements , except as noted below : on january 22 , 2019 , the company announced that its board of directors ( the board ) had determined to no longer pursue a potential sale of arconic as part of its strategy and portfolio review .on february 6 , 2019 , the company announced that the board appointed john c .plant , current chairman of the board , as chairman and chief executive officer of the company , effective february 6 , 2019 , to succeed chip blankenship , who ceased to serve as chief executive officer of the company and resigned as a member of the board , in each case as of that date .in addition , the company announced that the board appointed elmer l .doty , current member of the board , as president and chief operating officer , a newly created position , effective february 6 , 2019 .mr .doty will remain a member of the board .the company also announced that arthur d .collins , jr. , current member of the board , has been appointed interim lead independent director of the company , effective february 6 , 2019 .on february 8 , 2019 , the company announced the following key initiatives as part of its ongoing strategy and portfolio review : plans to reduce operating costs , designed to maximize the impact in 2019 ; the planned separation of its portfolio into engineered products and forgings ( ep&f ) and global rolled products ( grp ) , with a spin-off of one of the businesses ; the potential sale of businesses that do not best fit into ep&f or grp ; execute its previously authorized $ 500 share repurchase program in the first half of 2019 ; the board authorized an additional $ 500 of share repurchases , effective through the end of 2020 ; and plans to reduce its quarterly common stock dividend from $ 0.06 to $ 0.02 per share .on february 19 , 2019 , the company entered into an accelerated share repurchase ( 201casr 201d ) agreement with jpmorgan chase bank to repurchase $ 700 of its common stock , pursuant to the share repurchase program previously authorized by the board .under the asr agreement , arconic will receive initial delivery of approximately 32 million shares on february 21 , 2019 .the final number of shares to be repurchased will be based on the volume-weighted average price of arconic 2019s common stock during the term of the transaction , less a discount .the asr agreement is expected to be completed during the first half of the company will evaluate its organizational structure in conjunction with the planned separation of its portfolio and changes to its reportable segments are expected in the first half of 2019. .
|
considering the asr agreement , what will be the total value associated with the repurchase program of common stock , in millions of dollars?
|
22400
|
{
"answer": "22400",
"decimal": 22400,
"type": "float"
}
|
it is the price per repurchased share multiplied by the total amount of shares delivered .
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) maturities 2014as of december 31 , 2007 , 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 .
[['2008', '$ 1817'], ['2009', '1241'], ['2010', '78828'], ['2011', '13714'], ['2012', '1894998'], ['thereafter', '2292895'], ['total cash obligations', '$ 4283493'], ['accreted value of the discount and premium of 3.00% ( 3.00 % ) notes and 7.125% ( 7.125 % ) notes', '1791'], ['balance as of december 31 2007', '$ 4285284']]
4 .acquisitions during the years ended december 31 , 2007 , 2006 and 2005 , the company used cash to acquire a total of ( i ) 293 towers and the assets of a structural analysis firm for approximately $ 44.0 million in cash ( ii ) 84 towers and 6 in-building distributed antenna systems for approximately $ 14.3 million and ( iii ) 30 towers for approximately $ 6.0 million in cash , respectively .the tower asset acquisitions were primarily in mexico and brazil under ongoing agreements .during the year ended december 31 , 2005 , the company also completed its merger with spectrasite , inc .pursuant to which the company acquired approximately 7800 towers and 100 in-building distributed antenna systems .under the terms of the merger agreement , in august 2005 , spectrasite , inc .merged with a wholly- owned subsidiary of the company , and each share of spectrasite , inc .common stock converted into the right to receive 3.575 shares of the company 2019s class a common stock .the company issued approximately 169.5 million shares of its class a common stock and reserved for issuance approximately 9.9 million and 6.8 million of class a common stock pursuant to spectrasite , inc .options and warrants , respectively , assumed in the merger .the final allocation of the $ 3.1 billion purchase price is summarized in the company 2019s annual report on form 10-k for the year ended december 31 , 2006 .the acquisitions consummated by the company during 2007 , 2006 and 2005 , have been accounted for under the purchase method of accounting in accordance with sfas no .141 201cbusiness combinations 201d ( sfas no .141 ) .the purchase prices have been allocated to the net assets acquired and the liabilities assumed based on their estimated fair values at the date of acquisition .the company primarily acquired its tower assets from third parties in one of two types of transactions : the purchase of a business or the purchase of assets .the structure of each transaction affects the way the company allocates purchase price within the consolidated financial statements .in the case of tower assets acquired through the purchase of a business , such as the company 2019s merger with spectrasite , inc. , the company allocates the purchase price to the assets acquired and liabilities assumed at their estimated fair values as of the date of acquisition .the excess of the purchase price paid by the company over the estimated fair value of net assets acquired has been recorded as goodwill .in the case of an asset purchase , the company first allocates the purchase price to property and equipment for the appraised value of the towers and to identifiable intangible assets ( primarily acquired customer base ) .the company then records any remaining purchase price within intangible assets as a 201cnetwork location intangible . 201d .
|
assuming full exercise of the options and warrants assumed , what is the total millions of shares of class a common stock in the spectrasite deal?
|
186.2
|
{
"answer": "186.2",
"decimal": 186.2,
"type": "float"
}
| |
entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis entergy louisiana may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and distribution rates are favorable .all debt and common and preferred membership interest issuances by entergy louisiana require prior regulatory approval .preferred membership interest and debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements .entergy louisiana has sufficient capacity under these tests to meet its foreseeable capital needs .entergy louisiana 2019s receivables from the money pool were as follows as of december 31 for each of the following years. .
[['2016', '2015', '2014', '2013'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['$ 22503', '$ 6154', '$ 2815', '$ 19573']]
see note 4 to the financial statements for a description of the money pool .entergy louisiana has a credit facility in the amount of $ 350 million scheduled to expire in august 2021 .the credit facility allows entergy louisiana to issue letters of credit against 50% ( 50 % ) of the borrowing capacity of the facility .as of december 31 , 2016 , there were no cash borrowings and a $ 6.4 million letter of credit outstanding under the credit facility .in addition , entergy louisiana is party to an uncommitted letter of credit facility as a means to post collateral to support its obligations under miso .as of december 31 , 2016 , a $ 5.7 million letter of credit was outstanding under entergy louisiana 2019s uncommitted letter of credit facility .see note 4 to the financial statements for additional discussion of the credit facilities .the entergy louisiana nuclear fuel company variable interest entities have two separate credit facilities , one in the amount of $ 105 million and one in the amount of $ 85 million , both scheduled to expire in may 2019 .as of december 31 , 2016 , $ 3.8 million of letters of credit were outstanding under the credit facility to support a like amount of commercial paper issued by the entergy louisiana waterford 3 nuclear fuel company variable interest entity and there were no cash borrowings outstanding under the credit facility for the entergy louisiana river bend nuclear fuel company variable interest entity .see note 4 to the financial statements for additional discussion of the nuclear fuel company variable interest entity credit facility .entergy louisiana obtained authorizations from the ferc through october 2017 for the following : 2022 short-term borrowings not to exceed an aggregate amount of $ 450 million at any time outstanding ; 2022 long-term borrowings and security issuances ; and 2022 long-term borrowings by its nuclear fuel company variable interest entities .see note 4 to the financial statements for further discussion of entergy louisiana 2019s short-term borrowing limits .hurricane isaac in june 2014 the lpsc voted to approve a series of orders which ( i ) quantified $ 290.8 million of hurricane isaac system restoration costs as prudently incurred ; ( ii ) determined $ 290 million as the level of storm reserves to be re-established ; ( iii ) authorized entergy louisiana to utilize louisiana act 55 financing for hurricane isaac system restoration costs ; and ( iv ) granted other requested relief associated with storm reserves and act 55 financing of hurricane isaac system restoration costs .entergy louisiana committed to pass on to customers a minimum of $ 30.8 million of customer benefits through annual customer credits of approximately $ 6.2 million for five years .approvals for the act 55 financings were obtained from the louisiana utilities restoration corporation and the louisiana state bond commission .see note 2 to the financial statements for a discussion of the august 2014 issuance of bonds under act 55 of the louisiana legislature. .
|
what is the net change in entergy louisiana 2019s receivables from the money pool from 2014 to 2015?
|
3339
|
{
"answer": "3339",
"decimal": 3339,
"type": "float"
}
| |
vornado realty trust notes to consolidated financial statements ( continued ) 20 .leases as lessor : we lease space to tenants under operating leases .most of the leases provide for the payment of fixed base rentals payable monthly in advance .office building leases generally require the tenants to reimburse us for operating costs and real estate taxes above their base year costs .shopping center leases provide for pass-through to tenants the tenant 2019s share of real estate taxes , insurance and maintenance .shopping center leases also provide for the payment by the lessee of additional rent based on a percentage of the tenants 2019 sales .as of december 31 , 2012 , future base rental revenue under non-cancelable operating leases , excluding rents for leases with an original term of less than one year and rents resulting from the exercise of renewal options , are as follows : ( amounts in thousands ) year ending december 31: .
[['2013', '$ 1842355'], ['2014', '1738439'], ['2015', '1578559'], ['2016', '1400020'], ['2017', '1249904'], ['thereafter', '6134903']]
these amounts do not include percentage rentals based on tenants 2019 sales .these percentage rents approximated $ 8466000 , $ 7995000 and $ 7339000 , for the years ended december 31 , 2012 , 2011 and 2010 , respectively .none of our tenants accounted for more than 10% ( 10 % ) of total revenues in any of the years ended december 31 , 2012 , 2011 and 2010 .former bradlees locations pursuant to a master agreement and guaranty , dated may 1 , 1992 , we were due $ 5000000 of annual rent from stop & shop which was allocated to certain bradlees former locations .on december 31 , 2002 , prior to the expiration of the leases to which the additional rent was allocated , we reallocated this rent to other former bradlees leases also guaranteed by stop & shop .stop & shop contested our right to reallocate the rent .on november 7 , 2011 , the court determined that we had a continuing right to allocate the annual rent to unexpired leases covered by the master agreement and guaranty and directed entry of a judgment in our favor ordering stop & shop to pay us the unpaid annual rent .at december 31 , 2012 , we had a $ 47900000 receivable from stop and shop , which is included as a component of 201ctenant and other receivables 201d on our consolidated balance sheet .on february 6 , 2013 , we received $ 124000000 pursuant to a settlement agreement with stop & shop ( see note 22 2013 commitments and contingencies 2013 litigation ) . .
|
for 2012 and 2011 , percentage rentals based on tenants 2019 sales totaled what in thousands?
|
16461000
|
{
"answer": "16461000",
"decimal": 16461000,
"type": "float"
}
| |
zimmer biomet holdings , inc .and subsidiaries 2018 form 10-k annual report notes to consolidated financial statements ( continued ) default for unsecured financing arrangements , including , among other things , limitations on consolidations , mergers and sales of assets .financial covenants under the 2018 , 2016 and 2014 credit agreements include a consolidated indebtedness to consolidated ebitda ratio of no greater than 5.0 to 1.0 through june 30 , 2017 , and no greater than 4.5 to 1.0 thereafter .if our credit rating falls below investment grade , additional restrictions would result , including restrictions on investments and payment of dividends .we were in compliance with all covenants under the 2018 , 2016 and 2014 credit agreements as of december 31 , 2018 .as of december 31 , 2018 , there were no borrowings outstanding under the multicurrency revolving facility .we may , at our option , redeem our senior notes , in whole or in part , at any time upon payment of the principal , any applicable make-whole premium , and accrued and unpaid interest to the date of redemption , except that the floating rate notes due 2021 may not be redeemed until on or after march 20 , 2019 and such notes do not have any applicable make-whole premium .in addition , we may redeem , at our option , the 2.700% ( 2.700 % ) senior notes due 2020 , the 3.375% ( 3.375 % ) senior notes due 2021 , the 3.150% ( 3.150 % ) senior notes due 2022 , the 3.700% ( 3.700 % ) senior notes due 2023 , the 3.550% ( 3.550 % ) senior notes due 2025 , the 4.250% ( 4.250 % ) senior notes due 2035 and the 4.450% ( 4.450 % ) senior notes due 2045 without any make-whole premium at specified dates ranging from one month to six months in advance of the scheduled maturity date .the estimated fair value of our senior notes as of december 31 , 2018 , based on quoted prices for the specific securities from transactions in over-the-counter markets ( level 2 ) , was $ 7798.9 million .the estimated fair value of japan term loan a and japan term loan b , in the aggregate , as of december 31 , 2018 , based upon publicly available market yield curves and the terms of the debt ( level 2 ) , was $ 294.7 million .the carrying values of u.s .term loan b and u.s .term loan c approximate fair value as they bear interest at short-term variable market rates .we entered into interest rate swap agreements which we designated as fair value hedges of underlying fixed-rate obligations on our senior notes due 2019 and 2021 .these fair value hedges were settled in 2016 .in 2016 , we entered into various variable-to-fixed interest rate swap agreements that were accounted for as cash flow hedges of u.s .term loan b .in 2018 , we entered into cross-currency interest rate swaps that we designated as net investment hedges .the excluded component of these net investment hedges is recorded in interest expense , net .see note 13 for additional information regarding our interest rate swap agreements .we also have available uncommitted credit facilities totaling $ 55.0 million .at december 31 , 2018 and 2017 , the weighted average interest rate for our borrowings was 3.1 percent and 2.9 percent , respectively .we paid $ 282.8 million , $ 317.5 million , and $ 363.1 million in interest during 2018 , 2017 , and 2016 , respectively .12 .accumulated other comprehensive ( loss ) income aoci refers to certain gains and losses that under gaap are included in comprehensive income but are excluded from net earnings as these amounts are initially recorded as an adjustment to stockholders 2019 equity .amounts in aoci may be reclassified to net earnings upon the occurrence of certain events .our aoci is comprised of foreign currency translation adjustments , including unrealized gains and losses on net investment hedges , unrealized gains and losses on cash flow hedges , and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions on our defined benefit plans .foreign currency translation adjustments are reclassified to net earnings upon sale or upon a complete or substantially complete liquidation of an investment in a foreign entity .unrealized gains and losses on cash flow hedges are reclassified to net earnings when the hedged item affects net earnings .amounts related to defined benefit plans that are in aoci are reclassified over the service periods of employees in the plan .see note 14 for more information on our defined benefit plans .the following table shows the changes in the components of aoci , net of tax ( in millions ) : foreign currency translation hedges defined benefit plan items .
[['', 'foreign currency translation', 'cash flow hedges', 'defined benefit plan items', 'total aoci'], ['balance december 31 2017', '$ 121.5', '$ -66.5 ( 66.5 )', '$ -138.2 ( 138.2 )', '$ -83.2 ( 83.2 )'], ['aoci before reclassifications', '-135.4 ( 135.4 )', '68.2', '-29.7 ( 29.7 )', '-96.9 ( 96.9 )'], ['reclassifications to retained earnings ( note 2 )', '-17.4 ( 17.4 )', '-4.4 ( 4.4 )', '-21.1 ( 21.1 )', '-42.9 ( 42.9 )'], ['reclassifications', '-', '23.6', '12.0', '35.6'], ['balance december 31 2018', '$ -31.3 ( 31.3 )', '$ 20.9', '$ -177.0 ( 177.0 )', '$ -187.4 ( 187.4 )']]
.
|
what is the percent change of interest paid between 2016 and 2017?
|
-13%
|
{
"answer": "-13%",
"decimal": -0.13,
"type": "percentage"
}
| |
jpmorgan chase & co ./ 2005 annual report 123 litigation reserve the firm maintains litigation reserves for certain of its litigations , including its material legal proceedings .while the outcome of litigation is inherently uncertain , management believes , in light of all information known to it at december 31 , 2005 , that the firm 2019s litigation reserves were adequate at such date .management reviews litigation reserves periodically , and the reserves may be increased or decreased in the future to reflect further litigation devel- opments .the firm believes it has meritorious defenses to claims asserted against it in its currently outstanding litigation and , with respect to such liti- gation , intends to continue to defend itself vigorously , litigating or settling cases according to management 2019s judgment as to what is in the best interest of stockholders .note 26 2013 accounting for derivative instruments and hedging activities derivative instruments enable end users to increase , reduce or alter exposure to credit or market risks .the value of a derivative is derived from its reference to an underlying variable or combination of variables such as equity , foreign exchange , credit , commodity or interest rate prices or indices .jpmorgan chase makes markets in derivatives for customers and also is an end-user of derivatives in order to manage the firm 2019s exposure to credit and market risks .sfas 133 , as amended by sfas 138 and sfas 149 , establishes accounting and reporting standards for derivative instruments , including those used for trading and hedging activities , and derivative instruments embedded in other contracts .all free-standing derivatives , whether designated for hedging rela- tionships or not , are required to be recorded on the balance sheet at fair value .the accounting for changes in value of a derivative depends on whether the contract is for trading purposes or has been designated and qualifies for hedge accounting .the majority of the firm 2019s derivatives are entered into for trading purposes .the firm also uses derivatives as an end user to hedge market exposures , modify the interest rate characteristics of related balance sheet instruments or meet longer-term investment objectives .both trading and end-user derivatives are recorded at fair value in trading assets and trading liabilities as set forth in note 3 on page 94 of this annual report .in order to qualify for hedge accounting , a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged .each derivative must be designated as a hedge , with documentation of the risk management objective and strategy , including identification of the hedging instrument , the hedged item and the risk exposure , and how effectiveness is to be assessed prospectively and retrospectively .the extent to which a hedging instrument is effective at achieving offsetting changes in fair value or cash flows must be assessed at least quarterly .any ineffectiveness must be reported in current-period earnings .for qualifying fair value hedges , all changes in the fair value of the derivative and in the fair value of the item for the risk being hedged are recognized in earnings .if the hedge relationship is terminated , then the fair value adjust- ment to the hedged item continues to be reported as part of the basis of the item and is amortized to earnings as a yield adjustment .for qualifying cash flow hedges , the effective portion of the change in the fair value of the derivative is recorded in other comprehensive income and recognized in the income statement when the hedged cash flows affect earnings .the ineffective portions of cash flow hedges are immediately recognized in earnings .if the hedge relationship is terminated , then the change in fair value of the derivative recorded in other comprehensive income is recognized when the cash flows that were hedged occur , consistent with the original hedge strategy .for hedge relationships discontinued because the forecasted transaction is not expected to occur according to the original strategy , any related derivative amounts recorded in other comprehensive income are immediately recognized in earnings .for qualifying net investment hedges , changes in the fair value of the derivative or the revaluation of the foreign currency 2013denominated debt instrument are recorded in the translation adjustments account within other comprehensive income .any ineffective portions of net investment hedges are immediately recognized in earnings .jpmorgan chase 2019s fair value hedges primarily include hedges of fixed-rate long-term debt , loans , afs securities and msrs .interest rate swaps are the most common type of derivative contract used to modify exposure to interest rate risk , converting fixed-rate assets and liabilities to a floating rate .interest rate options , swaptions and forwards are also used in combination with interest rate swaps to hedge the fair value of the firm 2019s msrs .for a further discussion of msr risk management activities , see note 15 on pages 114 2013116 of this annual report .all amounts have been included in earnings consistent with the classification of the hedged item , primarily net interest income , mortgage fees and related income , and other income .the firm did not recognize any gains or losses during 2005 on firm commitments that no longer qualify as fair value hedges .jpmorgan chase also enters into derivative contracts to hedge exposure to variability in cash flows from floating-rate financial instruments and forecasted transactions , primarily the rollover of short-term assets and liabilities , and foreign currency-denominated revenues and expenses .interest rate swaps , futures and forward contracts are the most common instruments used to reduce the impact of interest rate and foreign exchange rate changes on future earnings .all amounts affecting earnings have been recognized consistent with the classification of the hedged item , primarily net interest income .the firm uses forward foreign exchange contracts and foreign currency- denominated debt instruments to protect the value of net investments in foreign currencies in non-u.s .subsidiaries .the portion of the hedging instru- ments excluded from the assessment of hedge effectiveness ( forward points ) is recorded in net interest income .the following table presents derivative instrument hedging-related activities for the periods indicated : year ended december 31 , ( in millions ) ( a ) 2005 2004 fair value hedge ineffective net gains/ ( losses ) ( b ) $ ( 58 ) $ 199 cash flow hedge ineffective net gains/ ( losses ) ( b ) ( 2 ) 2014 cash flow hedging gains on forecasted transactions that failed to occur 2014 1 ( a ) 2004 results include six months of the combined firm 2019s results and six months of heritage jpmorgan chase results .( b ) includes ineffectiveness and the components of hedging instruments that have been excluded from the assessment of hedge effectiveness .over the next 12 months , it is expected that $ 44 million ( after-tax ) of net gains recorded in other comprehensive income at december 31 , 2005 , will be recognized in earnings .the maximum length of time over which forecasted transactions are hedged is 10 years , and such transactions primarily relate to core lending and borrowing activities .jpmorgan chase does not seek to apply hedge accounting to all of the firm 2019s economic hedges .for example , the firm does not apply hedge accounting to standard credit derivatives used to manage the credit risk of loans and commitments because of the difficulties in qualifying such contracts as hedges under sfas 133 .similarly , the firm does not apply hedge accounting to certain interest rate derivatives used as economic hedges. .
[['year ended december 31 ( in millions ) ( a )', '2005', '2004'], ['fair value hedge ineffective net gains/ ( losses ) ( b )', '$ -58 ( 58 )', '$ 199'], ['cash flow hedge ineffective net gains/ ( losses ) ( b )', '-2 ( 2 )', '2014'], ['cash flow hedging gains on forecastedtransactions that failed to occur', '2014', '1']]
jpmorgan chase & co ./ 2005 annual report 123 litigation reserve the firm maintains litigation reserves for certain of its litigations , including its material legal proceedings .while the outcome of litigation is inherently uncertain , management believes , in light of all information known to it at december 31 , 2005 , that the firm 2019s litigation reserves were adequate at such date .management reviews litigation reserves periodically , and the reserves may be increased or decreased in the future to reflect further litigation devel- opments .the firm believes it has meritorious defenses to claims asserted against it in its currently outstanding litigation and , with respect to such liti- gation , intends to continue to defend itself vigorously , litigating or settling cases according to management 2019s judgment as to what is in the best interest of stockholders .note 26 2013 accounting for derivative instruments and hedging activities derivative instruments enable end users to increase , reduce or alter exposure to credit or market risks .the value of a derivative is derived from its reference to an underlying variable or combination of variables such as equity , foreign exchange , credit , commodity or interest rate prices or indices .jpmorgan chase makes markets in derivatives for customers and also is an end-user of derivatives in order to manage the firm 2019s exposure to credit and market risks .sfas 133 , as amended by sfas 138 and sfas 149 , establishes accounting and reporting standards for derivative instruments , including those used for trading and hedging activities , and derivative instruments embedded in other contracts .all free-standing derivatives , whether designated for hedging rela- tionships or not , are required to be recorded on the balance sheet at fair value .the accounting for changes in value of a derivative depends on whether the contract is for trading purposes or has been designated and qualifies for hedge accounting .the majority of the firm 2019s derivatives are entered into for trading purposes .the firm also uses derivatives as an end user to hedge market exposures , modify the interest rate characteristics of related balance sheet instruments or meet longer-term investment objectives .both trading and end-user derivatives are recorded at fair value in trading assets and trading liabilities as set forth in note 3 on page 94 of this annual report .in order to qualify for hedge accounting , a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged .each derivative must be designated as a hedge , with documentation of the risk management objective and strategy , including identification of the hedging instrument , the hedged item and the risk exposure , and how effectiveness is to be assessed prospectively and retrospectively .the extent to which a hedging instrument is effective at achieving offsetting changes in fair value or cash flows must be assessed at least quarterly .any ineffectiveness must be reported in current-period earnings .for qualifying fair value hedges , all changes in the fair value of the derivative and in the fair value of the item for the risk being hedged are recognized in earnings .if the hedge relationship is terminated , then the fair value adjust- ment to the hedged item continues to be reported as part of the basis of the item and is amortized to earnings as a yield adjustment .for qualifying cash flow hedges , the effective portion of the change in the fair value of the derivative is recorded in other comprehensive income and recognized in the income statement when the hedged cash flows affect earnings .the ineffective portions of cash flow hedges are immediately recognized in earnings .if the hedge relationship is terminated , then the change in fair value of the derivative recorded in other comprehensive income is recognized when the cash flows that were hedged occur , consistent with the original hedge strategy .for hedge relationships discontinued because the forecasted transaction is not expected to occur according to the original strategy , any related derivative amounts recorded in other comprehensive income are immediately recognized in earnings .for qualifying net investment hedges , changes in the fair value of the derivative or the revaluation of the foreign currency 2013denominated debt instrument are recorded in the translation adjustments account within other comprehensive income .any ineffective portions of net investment hedges are immediately recognized in earnings .jpmorgan chase 2019s fair value hedges primarily include hedges of fixed-rate long-term debt , loans , afs securities and msrs .interest rate swaps are the most common type of derivative contract used to modify exposure to interest rate risk , converting fixed-rate assets and liabilities to a floating rate .interest rate options , swaptions and forwards are also used in combination with interest rate swaps to hedge the fair value of the firm 2019s msrs .for a further discussion of msr risk management activities , see note 15 on pages 114 2013116 of this annual report .all amounts have been included in earnings consistent with the classification of the hedged item , primarily net interest income , mortgage fees and related income , and other income .the firm did not recognize any gains or losses during 2005 on firm commitments that no longer qualify as fair value hedges .jpmorgan chase also enters into derivative contracts to hedge exposure to variability in cash flows from floating-rate financial instruments and forecasted transactions , primarily the rollover of short-term assets and liabilities , and foreign currency-denominated revenues and expenses .interest rate swaps , futures and forward contracts are the most common instruments used to reduce the impact of interest rate and foreign exchange rate changes on future earnings .all amounts affecting earnings have been recognized consistent with the classification of the hedged item , primarily net interest income .the firm uses forward foreign exchange contracts and foreign currency- denominated debt instruments to protect the value of net investments in foreign currencies in non-u.s .subsidiaries .the portion of the hedging instru- ments excluded from the assessment of hedge effectiveness ( forward points ) is recorded in net interest income .the following table presents derivative instrument hedging-related activities for the periods indicated : year ended december 31 , ( in millions ) ( a ) 2005 2004 fair value hedge ineffective net gains/ ( losses ) ( b ) $ ( 58 ) $ 199 cash flow hedge ineffective net gains/ ( losses ) ( b ) ( 2 ) 2014 cash flow hedging gains on forecasted transactions that failed to occur 2014 1 ( a ) 2004 results include six months of the combined firm 2019s results and six months of heritage jpmorgan chase results .( b ) includes ineffectiveness and the components of hedging instruments that have been excluded from the assessment of hedge effectiveness .over the next 12 months , it is expected that $ 44 million ( after-tax ) of net gains recorded in other comprehensive income at december 31 , 2005 , will be recognized in earnings .the maximum length of time over which forecasted transactions are hedged is 10 years , and such transactions primarily relate to core lending and borrowing activities .jpmorgan chase does not seek to apply hedge accounting to all of the firm 2019s economic hedges .for example , the firm does not apply hedge accounting to standard credit derivatives used to manage the credit risk of loans and commitments because of the difficulties in qualifying such contracts as hedges under sfas 133 .similarly , the firm does not apply hedge accounting to certain interest rate derivatives used as economic hedges. .
|
what were the total 2005 and 2004 fair value hedge gains/ ( losses ) due to ineffectiveness , in us$ m?
|
141
|
{
"answer": "141",
"decimal": 141,
"type": "float"
}
| |
future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2022 notes .2021 notes .in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .these notes were issued as two separate series of senior debt securities , including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes , which were repaid in may 2013 at maturity .net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2021 notes .2019 notes .in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes , which were repaid in december 2014 at maturity , and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2019 ( the 201c2019 notes 201d ) .net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors from barclays on december 1 , 2009 , and for general corporate purposes .interest on the 2019 notes of approximately $ 50 million per year is payable semi-annually in arrears on june 10 and december 10 of each year .these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2019 notes .2017 notes .in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund-of-funds business of quellos and the remainder was used for general corporate purposes .interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .the 2017 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2017 notes .13 .commitments and contingencies operating lease commitments the company leases its primary office spaces under agreements that expire through 2035 .future minimum commitments under these operating leases are as follows : ( in millions ) .
[['year', 'amount'], ['2017', '142'], ['2018', '135'], ['2019', '125'], ['2020', '120'], ['2021', '112'], ['thereafter', '404'], ['total', '$ 1038']]
rent expense and certain office equipment expense under lease agreements amounted to $ 134 million , $ 136 million and $ 132 million in 2016 , 2015 and 2014 , respectively .investment commitments .at december 31 , 2016 , the company had $ 192 million of various capital commitments to fund sponsored investment funds , including consolidated vies .these funds include private equity funds , real assets funds , and opportunistic funds .this amount excludes additional commitments made by consolidated funds of funds to underlying third-party funds as third-party noncontrolling interest holders have the legal obligation to fund the respective commitments of such funds of funds .in addition to the capital commitments of $ 192 million , the company had approximately $ 12 million of contingent commitments for certain funds which have investment periods that have expired .generally , the timing of the funding of these commitments is unknown and the commitments are callable on demand at any time prior to the expiration of the commitment .these unfunded commitments are not recorded on the consolidated statements of financial condition .these commitments do not include potential future commitments approved by the company that are not yet legally binding .the company intends to make additional capital commitments from time to time to fund additional investment products for , and with , its clients .contingencies contingent payments related to business acquisitions .in connection with certain acquisitions , blackrock is required to make contingent payments , subject to achieving specified performance targets , which may include revenue related to acquired contracts or new capital commitments for certain products .the fair value of the remaining aggregate contingent payments at december 31 , 2016 totaled $ 115 million and is included in other liabilities on the consolidated statement of financial condition .other contingent payments .the company acts as the portfolio manager in a series of derivative transactions and has a maximum potential exposure of $ 17 million between the company and counterparty .see note 7 , derivatives and hedging , for further discussion .legal proceedings .from time to time , blackrock receives subpoenas or other requests for information from various u.s .federal , state governmental and domestic and international regulatory authorities in connection with .
|
what are the various capital commitments to fund sponsored investment funds as a percentage of the total future minimum commitments under the operating leases?
|
18.5%
|
{
"answer": "18.5%",
"decimal": 0.185,
"type": "percentage"
}
| |
the following table summarizes the activity in our gross unrecognized tax benefits for the years ended december 31: .
[['', '2009', '2008', '2007'], ['balance at beginning of year', '$ 611.9', '$ 23.2', '$ 56.4'], ['additions due to the acquisition of allied', '13.3', '582.9', '-'], ['additions based on tax positions related to current year', '3.9', '10.6', '16.3'], ['reductions for tax positions related to the current year', '-', '-5.1 ( 5.1 )', '-17.2 ( 17.2 )'], ['additions for tax positions of prior years', '5.6', '2.0', '2.0'], ['reductions for tax positions of prior years', '-24.1 ( 24.1 )', '-1.3 ( 1.3 )', '-12.3 ( 12.3 )'], ['reductions for tax positions resulting from lapse of statute of limitations', '-0.5 ( 0.5 )', '-0.4 ( 0.4 )', '-0.4 ( 0.4 )'], ['settlements', '-367.9 ( 367.9 )', '-', '-21.6 ( 21.6 )'], ['balance at end of year', '$ 242.2', '$ 611.9', '$ 23.2']]
new accounting guidance for business combinations is effective for our 2009 financial statements .this new guidance significantly changes the treatment of acquired uncertain tax liabilities .under previous guidance , changes in acquired uncertain tax liabilities were recognized through goodwill .under this new guidance , subsequent changes in acquired unrecognized tax liabilities are recognized through the income tax provision .as of december 31 , 2009 , $ 211.9 million of the $ 242.2 million of unrecognized tax benefits related to tax positions taken by allied prior to the merger .included in the balance at december 31 , 2009 are approximately $ 217.6 million of unrecognized tax benefits ( net of the federal benefit on state issues ) that , if recognized , would affect the effective income tax rate in future periods .during 2009 , we settled our outstanding tax dispute related to allied 2019s risk management companies ( see 2014 risk management companies ) with both the doj and the irs .this settlement reduced our gross unrecognized tax benefits by approximately $ 299.6 million .during 2009 , we also settled with the irs , through an accounting method change , our outstanding tax dispute related to intercompany insurance premiums paid to allied 2019s captive insurance company .this settlement reduced our gross unrecognized tax benefits by approxi- mately $ 62.6 million .in addition to these federal matters , we also resolved various state matters that , in the aggregate , reduced our gross unrecognized tax benefits during 2009 by approximately $ 5.8 million .we recognize interest and penalties as incurred within the provision for income taxes in our consolidated statements of income .related to the unrecognized tax benefits previously noted , we accrued interest of $ 24.5 million during 2009 and , in total as of december 31 , 2009 , have recognized a liability for penalties of $ 1.5 million and interest of $ 92.3 million .during 2008 , we accrued penalties of $ 0.2 million and interest of $ 5.2 million and , in total at december 31 , 2008 , had recognized a liability for penalties of $ 88.1 million and interest of $ 180.0 million .during 2007 , we accrued interest of $ 0.9 million and , in total at december 31 , 2007 , had recognized a liability for penalties and interest of $ 5.5 million .the decrease in accrued interest and penalties between 2009 and 2008 was driven mainly by the settlements discussed previously .however , the current year interest expense increased due to the accrual of a full twelve months of interest expense on allied 2019s acquired uncertain tax positions versus only one month of accrued interest expense recorded in 2008 .gross unrecognized tax benefits that we expect to settle in the following twelve months are in the range of $ 10.0 million to $ 20.0 million .it is reasonably possible that the amount of unrecognized tax benefits will increase or decrease in the next twelve months .republic services , inc .and subsidiaries notes to consolidated financial statements , continued .
|
as of december 31 , 2009 , what was the percent unrecognized tax benefits related to tax positions taken by allied prior to the merger .
|
87.5%
|
{
"answer": "87.5%",
"decimal": 0.875,
"type": "percentage"
}
|
the percent is the difference in the amounts divide by the earliest amount
|
results of operations 20142018 compared to 2017 net sales .
[['( in millions )', 'years ended december 31 2018', 'years ended december 31 2017', 'years ended december 31 % ( % ) change'], ['net sales from products and systems integration', '$ 5100', '$ 4513', '13% ( 13 % )'], ['net sales from services and software', '2243', '1867', '20% ( 20 % )'], ['net sales', '$ 7343', '$ 6380', '15% ( 15 % )']]
the products and systems integration segment 2019s net sales represented 69% ( 69 % ) of our consolidated net sales in 2018 , compared to 71% ( 71 % ) in 2017 .the services and software segment 2019s net sales represented 31% ( 31 % ) of our consolidated net sales in 2018 , compared to 29% ( 29 % ) in 2017 .net sales were up $ 963 million , or 15% ( 15 % ) , compared to 2017 .the increase in net sales was driven by the americas and emea with a 13% ( 13 % ) increase in the products and systems integration segment and a 20% ( 20 % ) increase in the services and software segment .this growth includes : 2022 $ 507 million of incremental revenue from the acquisitions of avigilon and plant in 2018 and kodiak networks and interexport which were acquired during 2017 ; 2022 $ 83 million from the adoption of accounting standards codification ( "asc" ) 606 ( see note 1 of our consolidated financial statements ) ; and 2022 $ 32 million from favorable currency rates .regional results include : 2022 the americas grew 17% ( 17 % ) across all products within both the products and systems integration and the services and software segments , inclusive of incremental revenue from acquisitions ; 2022 emea grew 18% ( 18 % ) on broad-based growth within all offerings within our products and systems integration and services and software segments , inclusive of incremental revenue from acquisitions ; and 2022 ap was relatively flat with growth in the services and software segment offset by lower products and systems integration revenue .products and systems integration the 13% ( 13 % ) growth in the products and systems integration segment was driven by the following : 2022 $ 318 million of incremental revenue from the acquisitions of avigilon in 2018 and interexport during 2017 ; 2022 $ 78 million from the adoption of asc 606 ; 2022 devices revenues were up significantly due to the acquisition of avigilon along with strong demand in the americas and emea ; and 2022 systems and systems integration revenues increased 10% ( 10 % ) in 2018 , as compared to 2017 driven by incremental revenue from avigilon , as well as system deployments in emea and ap .services and software the 20% ( 20 % ) growth in the services and software segment was driven by the following : 2022 $ 189 million of incremental revenue primarily from the acquisitions of plant and avigilon in 2018 and kodiak networks and interexport during 2017 ; 2022 $ 5 million from the adoption of asc 606 ; 2022 services were up $ 174 million , or 9% ( 9 % ) , driven by growth in both maintenance and managed service revenues , and incremental revenue from the acquisitions of interexport and plant ; and 2022 software was up $ 202 million , or 89% ( 89 % ) , driven primarily by incremental revenue from the acquisitions of plant , avigilon , and kodiak networks , and growth in our command center software suite. .
|
in 2018 what was the ratio of the net sales from products and systems integration to the services and software
|
2.27
|
{
"answer": "2.27",
"decimal": 2.27,
"type": "float"
}
| |
security ownership of 5% ( 5 % ) holders , directors , nominees and executive officers shares of common stock percent of common stock name of beneficial owner beneficially owned ( 1 ) outstanding .
[['name of beneficial owner', 'shares of common stock beneficially owned ( 1 )', '', 'percent of common stock outstanding'], ['fidelity investments', '56583870', '-2 ( 2 )', '6.49% ( 6.49 % )'], ['steven p . jobs', '5546451', '', '*'], ['william v . campbell', '112900', '-3 ( 3 )', '*'], ['timothy d . cook', '13327', '-4 ( 4 )', '*'], ['millard s . drexler', '230000', '-5 ( 5 )', '*'], ['tony fadell', '288702', '-6 ( 6 )', '*'], ['albert a . gore jr .', '70000', '-7 ( 7 )', '*'], ['ronald b . johnson', '1450620', '-8 ( 8 )', '*'], ['arthur d . levinson', '365015', '-9 ( 9 )', '*'], ['peter oppenheimer', '14873', '-10 ( 10 )', '*'], ['eric e . schmidt', '12284', '-11 ( 11 )', '*'], ['jerome b . york', '90000', '-12 ( 12 )', '*'], ['all current executive officers and directors as a group ( 14 persons )', '8352396', '-13 ( 13 )', '1.00% ( 1.00 % )']]
all current executive officers and directors as a group ( 14 persons ) 8352396 ( 13 ) 1.00% ( 1.00 % ) ( 1 ) represents shares of the company 2019s common stock held and options held by such individuals that were exercisable at the table date or within 60 days thereafter .this does not include options or restricted stock units that vest more than 60 days after the table date .( 2 ) based on a form 13g/a filed february 14 , 2007 by fmr corp .fmr corp .lists its address as 82 devonshire street , boston , ma 02109 , in such filing .( 3 ) includes 110000 shares of the company 2019s common stock that mr .campbell has the right to acquire by exercise of stock options .( 4 ) excludes 600000 unvested restricted stock units .( 5 ) includes 40000 shares of the company 2019s common stock that mr .drexler holds indirectly and 190000 shares of the company 2019s common stock that mr .drexler has the right to acquire by exercise of stock options .( 6 ) includes 275 shares of the company 2019s common stock that mr .fadell holds indirectly , 165875 shares of the company 2019s common stock that mr .fadell has the right to acquire by exercise of stock options within 60 days after the table date , 1157 shares of the company 2019s common stock held by mr .fadell 2019s spouse , and 117375 shares of the company 2019s common stock that mr .fadell 2019s spouse has the right to acquire by exercise of stock options within 60 days after the table date .excludes 210000 unvested restricted stock units held by mr .fadell and 40000 unvested restricted stock units held by mr .fadell 2019s spouse .( 7 ) consists of 70000 shares of the company 2019s common stock that mr .gore has the right to acquire by exercise of stock options .( 8 ) includes 1300000 shares of the company 2019s common stock that mr .johnson has the right to acquire by exercise of stock options and excludes 450000 unvested restricted stock units .( 9 ) includes 2000 shares of the company 2019s common stock held by dr .levinson 2019s spouse and 110000 shares of the company 2019s common stock that dr .levinson has the right to acquire by exercise of stock options .( 10 ) excludes 450000 unvested restricted stock units. .
|
if mr . fadell's gave his unvested restricted stock units to a girlfriend , would his wife have more than his girlfriend?
|
no
|
{
"answer": "no",
"decimal": null,
"type": "bool"
}
| |
for the estimates of our oil sands mining reserves has 33 years of experience in petroleum engineering and has conducted surface mineable oil sands evaluations since 1986 .he is a member of spe , having served as regional director from 1998 through 2001 and is a registered practicing professional engineer in the province of alberta .audits of estimates third-party consultants are engaged to provide independent estimates for fields that comprise 80 percent of our total proved reserves over a rolling four-year period for the purpose of auditing the in-house reserve estimates .we met this goal for the four-year period ended december 31 , 2011 .we established a tolerance level of 10 percent such that initial estimates by the third-party consultants are accepted if they are within 10 percent of our internal estimates .should the third-party consultants 2019 initial analysis fail to reach our tolerance level , both our team and the consultants re-examine the information provided , request additional data and refine their analysis if appropriate .this resolution process is continued until both estimates are within 10 percent .this process did not result in significant changes to our reserve estimates in 2011 or 2009 .there were no third-party audits performed in 2010 .during 2011 , netherland , sewell & associates , inc .( 201cnsai 201d ) prepared a certification of december 31 , 2010 reserves for the alba field in equatorial guinea .the nsai summary report is filed as an exhibit to this annual report on form 10-k .the senior members of the nsai team have over 50 years of industry experience between them , having worked for large , international oil and gas companies before joining nsai .the team lead has a master of science in mechanical engineering and is a member of spe .the senior technical advisor has a bachelor of science degree in geophysics and is a member of the society of exploration geophysicists , the american association of petroleum geologists and the european association of geoscientists and engineers .both are licensed in the state of texas .ryder scott company ( 201cryder scott 201d ) performed audits of several of our fields in 2011 and 2009 .their summary report on audits performed in 2011 is filed as an exhibit to this annual report on form 10-k .the team lead for ryder scott has over 20 years of industry experience , having worked for a major international oil and gas company before joining ryder scott .he has a bachelor of science degree in mechanical engineering , is a member of spe and is a registered professional engineer in the state of texas .the corporate reserves group also performs separate , detailed technical reviews of reserve estimates for significant fields that were acquired recently or for properties with other indicators such as excessively short or long lives , performance above or below expectations or changes in economic or operating conditions .changes in proved undeveloped reserves as of december 31 , 2011 , 395 mmboe of proved undeveloped reserves were reported , a decrease of 10 mmboe from december 31 , 2010 .the following table shows changes in total proved undeveloped reserves for 2011: .
[['beginning of year', '405'], ['revisions of previous estimates', '15'], ['improved recovery', '1'], ['purchases of reserves in place', '91'], ['extensions discoveries and other additions', '49'], ['transfer to proved developed', '-166 ( 166 )'], ['end of year', '395']]
significant additions to proved undeveloped reserves during 2011 include 91 mmboe due to acreage acquisition in the eagle ford shale , 26 mmboe related to anadarko woodford shale development , 10 mmboe for development drilling in the bakken shale play and 8 mmboe for additional drilling in norway .additionally , 139 mmboe were transferred from proved undeveloped to proved developed reserves due to startup of the jackpine upgrader expansion in canada .costs incurred in 2011 , 2010 and 2009 relating to the development of proved undeveloped reserves , were $ 1107 million , $ 1463 million and $ 792 million .projects can remain in proved undeveloped reserves for extended periods in certain situations such as behind-pipe zones where reserves will not be accessed until the primary producing zone depletes , large development projects which take more than five years to complete , and the timing of when additional gas compression is needed .of the 395 mmboe of proved undeveloped reserves at year end 2011 , 34 percent of the volume is associated with projects that have been included in proved reserves for more than five years .the majority of this volume is related to a compression project in equatorial guinea that was sanctioned by our board of directors in 2004 and is expected to be completed by 2016 .performance of this field has exceeded expectations , and estimates of initial dry gas in place increased by roughly 10 percent between 2004 and 2010 .production is not expected to experience a natural decline from facility-limited plateau production until 2014 , or possibly 2015 .the timing of the installation of compression is being driven by the reservoir performance. .
|
by how much did total proved undeveloped reserves decrease during 2011?
|
-2.5%
|
{
"answer": "-2.5%",
"decimal": -0.025,
"type": "percentage"
}
| |
unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .however , many of our assets are self-constructed .a large portion of our capital expenditures is for replacement of existing road infrastructure assets ( program projects ) , which is typically performed by our employees , and for track line expansion ( capacity projects ) .costs that are directly attributable or overhead costs that relate directly to capital projects are capitalized .direct costs that are capitalized as part of self-constructed assets include material , labor , and work equipment .indirect costs are capitalized if they clearly relate to the construction of the asset .these costs are allocated using appropriate statistical bases .general and administrative expenditures are expensed as incurred .normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .11 .accounts payable and other current liabilities dec .31 , dec .31 , millions of dollars 2009 2008 .
[['millions of dollars', 'dec . 31 2009', 'dec . 31 2008'], ['accounts payable', '$ 612', '$ 629'], ['accrued wages and vacation', '339', '367'], ['accrued casualty costs', '379', '390'], ['income and other taxes', '224', '207'], ['dividends and interest', '347', '328'], ['equipment rents payable', '89', '93'], ['other', '480', '546'], ['total accounts payable and other current liabilities', '$ 2470', '$ 2560']]
12 .financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements. .
|
for 2009 , what is the proportion of equipment rents payable of the total accounts payable?
|
3.6%
|
{
"answer": "3.6%",
"decimal": 0.036000000000000004,
"type": "percentage"
}
| |
our refineries processed 944 mbpd of crude oil and 207 mbpd of other charge and blend stocks .the table below sets forth the location and daily crude oil refining capacity of each of our refineries as of december 31 , 2008 .crude oil refining capacity ( thousands of barrels per day ) 2008 .
[['( thousands of barrels per day )', '2008'], ['garyville louisiana', '256'], ['catlettsburg kentucky', '226'], ['robinson illinois', '204'], ['detroit michigan', '102'], ['canton ohio', '78'], ['texas city texas', '76'], ['st . paul park minnesota', '74'], ['total', '1016']]
our refineries include crude oil atmospheric and vacuum distillation , fluid catalytic cracking , catalytic reforming , desulfurization and sulfur recovery units .the refineries process a wide variety of crude oils and produce numerous refined products , ranging from transportation fuels , such as reformulated gasolines , blend- grade gasolines intended for blending with fuel ethanol and ultra-low sulfur diesel fuel , to heavy fuel oil and asphalt .additionally , we manufacture aromatics , cumene , propane , propylene , sulfur and maleic anhydride .our refineries are integrated with each other via pipelines , terminals and barges to maximize operating efficiency .the transportation links that connect our refineries allow the movement of intermediate products between refineries to optimize operations , produce higher margin products and utilize our processing capacity efficiently .our garyville , louisiana , refinery is located along the mississippi river in southeastern louisiana .the garyville refinery processes heavy sour crude oil into products such as gasoline , distillates , sulfur , asphalt , propane , polymer grade propylene , isobutane and coke .in 2006 , we approved an expansion of our garyville refinery by 180 mbpd to 436 mbpd , with a currently projected cost of $ 3.35 billion ( excluding capitalized interest ) .construction commenced in early 2007 and is continuing on schedule .we estimate that , as of december 31 , 2008 , this project is approximately 75 percent complete .we expect to complete the expansion in late 2009 .our catlettsburg , kentucky , refinery is located in northeastern kentucky on the western bank of the big sandy river , near the confluence with the ohio river .the catlettsburg refinery processes sweet and sour crude oils into products such as gasoline , asphalt , diesel , jet fuel , petrochemicals , propane , propylene and sulfur .our robinson , illinois , refinery is located in the southeastern illinois town of robinson .the robinson refinery processes sweet and sour crude oils into products such as multiple grades of gasoline , jet fuel , kerosene , diesel fuel , propane , propylene , sulfur and anode-grade coke .our detroit , michigan , refinery is located near interstate 75 in southwest detroit .the detroit refinery processes light sweet and heavy sour crude oils , including canadian crude oils , into products such as gasoline , diesel , asphalt , slurry , propane , chemical grade propylene and sulfur .in 2007 , we approved a heavy oil upgrading and expansion project at our detroit , michigan , refinery , with a current projected cost of $ 2.2 billion ( excluding capitalized interest ) .this project will enable the refinery to process additional heavy sour crude oils , including canadian bitumen blends , and will increase its crude oil refining capacity by about 15 percent .construction began in the first half of 2008 and is presently expected to be complete in mid-2012 .our canton , ohio , refinery is located approximately 60 miles southeast of cleveland , ohio .the canton refinery processes sweet and sour crude oils into products such as gasoline , diesel fuels , kerosene , propane , sulfur , asphalt , roofing flux , home heating oil and no .6 industrial fuel oil .our texas city , texas , refinery is located on the texas gulf coast approximately 30 miles south of houston , texas .the refinery processes sweet crude oil into products such as gasoline , propane , chemical grade propylene , slurry , sulfur and aromatics .our st .paul park , minnesota , refinery is located in st .paul park , a suburb of minneapolis-st .paul .the st .paul park refinery processes predominantly canadian crude oils into products such as gasoline , diesel , jet fuel , kerosene , asphalt , propane , propylene and sulfur. .
|
in 2006 , what was the increase in capacity of our garyville refinery by mbpd ?
|
256
|
{
"answer": "256",
"decimal": 256,
"type": "float"
}
| |
the goldman sachs group , inc .and subsidiaries management 2019s discussion and analysis during periods in which we have significantly more positive net revenue days than net revenue loss days , we expect to have fewer var exceptions because , under normal conditions , our business model generally produces positive net revenues .in periods in which our franchise revenues are adversely affected , we generally have more loss days , resulting in more var exceptions .the daily net revenues for positions included in var used to determine var exceptions reflect the impact of any intraday activity , including bid/offer net revenues , which are more likely than not to be positive by their nature .sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure .other sensitivity measures we use to analyze market risk are described below .10% ( 10 % ) sensitivity measures .the table below presents market risk by asset category for positions accounted for at fair value , that are not included in var. .
[['$ in millions', 'as of december 2018', 'as of december 2017'], ['equity', '$ 1923', '$ 2096'], ['debt', '1890', '1606'], ['total', '$ 3813', '$ 3702']]
in the table above : 2030 the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the value of these positions .2030 equity positions relate to private and restricted public equity securities , including interests in funds that invest in corporate equities and real estate and interests in hedge funds .2030 debt positions include interests in funds that invest in corporate mezzanine and senior debt instruments , loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans .2030 funded equity and debt positions are included in our consolidated statements of financial condition in financial instruments owned .see note 6 to the consolidated financial statements for further information about cash instruments .2030 these measures do not reflect the diversification effect across asset categories or across other market risk measures .credit spread sensitivity on derivatives and financial liabilities .var excludes the impact of changes in counterparty and our own credit spreads on derivatives , as well as changes in our own credit spreads ( debt valuation adjustment ) on financial liabilities for which the fair value option was elected .the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a gain of $ 3 million ( including hedges ) as of both december 2018 and december 2017 .in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on financial liabilities for which the fair value option was elected was a gain of $ 41 million as of december 2018 and $ 35 million as of december 2017 .however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those financial liabilities for which the fair value option was elected , as well as the relative performance of any hedges undertaken .interest rate sensitivity .loans receivable were $ 80.59 billion as of december 2018 and $ 65.93 billion as of december 2017 , substantially all of which had floating interest rates .the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 607 million as of december 2018 and $ 527 million as of december 2017 , of additional interest income over a twelve-month period , which does not take into account the potential impact of an increase in costs to fund such loans .see note 9 to the consolidated financial statements for further information about loans receivable .other market risk considerations as of both december 2018 and december 2017 , we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group , inc .see note 18 to the consolidated financial statements for further information about such lending commitments .in addition , we make investments in securities that are accounted for as available-for-sale and included in financial instruments owned in the consolidated statements of financial condition .see note 6 to the consolidated financial statements for further information .we also make investments accounted for under the equity method and we also make direct investments in real estate , both of which are included in other assets .direct investments in real estate are accounted for at cost less accumulated depreciation .see note 13 to the consolidated financial statements for further information about other assets .92 goldman sachs 2018 form 10-k .
|
for asset category for positions accounted for at fair value , that are not included in var , in millions for 2018 and 2017 , what was the maximum equity value?
|
2096
|
{
"answer": "2096",
"decimal": 2096,
"type": "float"
}
| |
notes to consolidated financial statements 4 .the sum of the quarters 2019 earnings per common share may not equal the annual amounts due to the averaging effect of the number of shares and share equivalents throughout the year .5 .during the fourth quarter of 2016 , net revenues included losses of approximately $ 60 million on sales and markdowns of legacy limited partnership investments in third-party-sponsored funds within the invest- ment management business segment .the fourth quarter of 2016 also included a $ 70 million provision within the wealth management busi- ness segment related to certain brokerage service reporting activities .employee share-based awards .
[['$ in millions', '2017 quarter first', '2017 quarter second', '2017 quarter third', '2017 quarter fourth'], ['discrete tax benefit', '$ 112', '$ 16', '$ 11', '$ 16']]
24 .subsequent events the firm has evaluated subsequent events for adjustment to or disclosure in the financial statements through the date of this report and has not identified any recordable or disclos- able events not otherwise reported in these financial state- ments or the notes thereto .175 december 2017 form 10-k .
|
what was the total discrete tax benefit from employee share-based awards in 2017 in millions?
|
155
|
{
"answer": "155",
"decimal": 155,
"type": "float"
}
| |
- the increase in level 3 short-term borrowings and long-term debt of $ 2.8 billion and $ 7.3 billion , respectively , resulted from transfers in of level 2 positions as prices and other valuation inputs became unobservable , plus the additions of new issuances for fair value accounting was elected .items measured at fair value on a nonrecurring basis certain assets and liabilities are measured at fair value on a nonrecurring basis and therefore are not included in the tables above .these include assets measured at cost that have been written down to fair value during the periods as a result of an impairment .in addition , assets such as loans held for sale that are measured at the lower of cost or market ( locom ) that were recognized at fair value below cost at the end of the period .the company recorded goodwill impairment charges of $ 9.6 billion as of december 31 , 2008 , as determined based on level 3 inputs .the primary cause of goodwill impairment was the overall weak industry outlook and continuing operating losses .these factors contributed to the overall decline in the stock price and the related market capitalization of citigroup .see note 19 , 201cgoodwill and intangible assets 201d on page 166 , for additional information on goodwill impairment .the company performed an impairment analysis of intangible assets related to the old lane multi-strategy hedge fund during the first quarter of 2008 .as a result , a pre-tax write-down of $ 202 million , representing the remaining unamortized balance of the intangible assets , was recorded during the first quarter of 2008 .the measurement of fair value was determined using level 3 input factors along with a discounted cash flow approach .during the fourth quarter of 2008 , the company performed an impairment analysis of japan's nikko asset management fund contracts which represent the rights to manage and collect fees on investor assets and are accounted for as indefinite-lived intangible assets .as a result , an impairment loss of $ 937 million pre-tax was recorded .the related fair value was determined using an income approach which relies on key drivers and future expectations of the business that are considered level 3 input factors .the fair value of loans measured on a locom basis is determined where possible using quoted secondary-market prices .such loans are generally classified in level 2 of the fair-value hierarchy given the level of activity in the market and the frequency of available quotes .if no such quoted price exists , the fair value of a loan is determined using quoted prices for a similar asset or assets , adjusted for the specific attributes of that loan .the following table presents all loans held-for-sale that are carried at locom as of december 31 , 2008 and december 31 , 2007 ( in billions ) : .
[['', 'aggregate cost', 'fair value', 'level 2', 'level 3'], ['december 31 2008', '$ 3.1', '$ 2.1', '$ 0.8', '$ 1.3'], ['december 31 2007', '33.6', '31.9', '5.1', '26.8']]
loans held-for-sale that are carried at locom as of december 31 , 2008 significantly declined compared to december 31 , 2007 because most of these loans were either sold or reclassified to held-for-investment category. .
|
at december 312008 what was the difference between the aggregate and the fair value of the loans held-for-sale that are carried at locom in billions
|
1
|
{
"answer": "1",
"decimal": 1,
"type": "float"
}
|
at december 312008 there was a difference of $ 1 billion between the aggregate and the fair value of the loans held-for-sale
|
table of contents other equity method investments infraservs .we hold indirect ownership interests in several german infraserv groups that own and develop industrial parks and provide on-site general and administrative support to tenants .our ownership interest in the equity investments in infraserv affiliates are as follows : as of december 31 , 2017 ( in percentages ) infraserv gmbh & co .gendorf kg ( 1 ) ................................................................................................... .39 .
[['', 'as of december 31 2017 ( in percentages )'], ['infraserv gmbh & co . gendorf kg ( 1 )', '39'], ['infraserv gmbh & co . hoechst kg', '32'], ['infraserv gmbh & co . knapsack kg ( 1 )', '27']]
infraserv gmbh & co .knapsack kg ( 1 ) ................................................................................................ .27 ______________________________ ( 1 ) see note 29 - subsequent events in the accompanying consolidated financial statements for further information .research and development our business models leverage innovation and conduct research and development activities to develop new , and optimize existing , production technologies , as well as to develop commercially viable new products and applications .research and development expense was $ 72 million , $ 78 million and $ 119 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .we consider the amounts spent during each of the last three fiscal years on research and development activities to be sufficient to execute our current strategic initiatives .intellectual property we attach importance to protecting our intellectual property , including safeguarding our confidential information and through our patents , trademarks and copyrights , in order to preserve our investment in research and development , manufacturing and marketing .patents may cover processes , equipment , products , intermediate products and product uses .we also seek to register trademarks as a means of protecting the brand names of our company and products .patents .in most industrial countries , patent protection exists for new substances and formulations , as well as for certain unique applications and production processes .however , we do business in regions of the world where intellectual property protection may be limited and difficult to enforce .confidential information .we maintain stringent information security policies and procedures wherever we do business .such information security policies and procedures include data encryption , controls over the disclosure and safekeeping of confidential information and trade secrets , as well as employee awareness training .trademarks .amcel ae , aoplus ae , ateva ae , avicor ae , celanese ae , celanex ae , celcon ae , celfx ae , celstran ae , celvolit ae , clarifoil ae , dur- o-set ae , ecomid ae , ecovae ae , forflex ae , forprene ae , frianyl ae , fortron ae , ghr ae , gumfit ae , gur ae , hostaform ae , laprene ae , metalx ae , mowilith ae , mt ae , nilamid ae , nivionplast ae , nutrinova ae , nylfor ae , pibiflex ae , pibifor ae , pibiter ae , polifor ae , resyn ae , riteflex ae , slidex ae , sofprene ae , sofpur ae , sunett ae , talcoprene ae , tecnoprene ae , thermx ae , tufcor ae , vantage ae , vectra ae , vinac ae , vinamul ae , vitaldose ae , zenite ae and certain other branded products and services named in this document are registered or reserved trademarks or service marks owned or licensed by celanese .the foregoing is not intended to be an exhaustive or comprehensive list of all registered or reserved trademarks and service marks owned or licensed by celanese .fortron ae is a registered trademark of fortron industries llc .hostaform ae is a registered trademark of hoechst gmbh .mowilith ae and nilamid ae are registered trademarks of celanese in most european countries .we monitor competitive developments and defend against infringements on our intellectual property rights .neither celanese nor any particular business segment is materially dependent upon any one patent , trademark , copyright or trade secret .environmental and other regulation matters pertaining to environmental and other regulations are discussed in item 1a .risk factors , as well as note 2 - summary of accounting policies , note 16 - environmental and note 24 - commitments and contingencies in the accompanying consolidated financial statements. .
|
what was the total research and development from december 312017 to 2015 in millions
|
369
|
{
"answer": "369",
"decimal": 369,
"type": "float"
}
|
the total amount is the sum of all amounts
|
2015 compared to 2014 mfc 2019s net sales in 2015 decreased $ 322 million , or 5% ( 5 % ) , compared to the same period in 2014 .the decrease was attributable to lower net sales of approximately $ 345 million for air and missile defense programs due to fewer deliveries ( primarily pac-3 ) and lower volume ( primarily thaad ) ; and approximately $ 85 million for tactical missile programs due to fewer deliveries ( primarily guided multiple launch rocket system ( gmlrs ) ) and joint air-to-surface standoff missile , partially offset by increased deliveries for hellfire .these decreases were partially offset by higher net sales of approximately $ 55 million for energy solutions programs due to increased volume .mfc 2019s operating profit in 2015 decreased $ 62 million , or 5% ( 5 % ) , compared to 2014 .the decrease was attributable to lower operating profit of approximately $ 100 million for fire control programs due primarily to lower risk retirements ( primarily lantirn and sniper ) ; and approximately $ 65 million for tactical missile programs due to lower risk retirements ( primarily hellfire and gmlrs ) and fewer deliveries .these decreases were partially offset by higher operating profit of approximately $ 75 million for air and missile defense programs due to increased risk retirements ( primarily thaad ) .adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 60 million lower in 2015 compared to 2014 .backlog backlog decreased in 2016 compared to 2015 primarily due to lower orders on pac-3 , hellfire , and jassm .backlog increased in 2015 compared to 2014 primarily due to higher orders on pac-3 , lantirn/sniper and certain tactical missile programs , partially offset by lower orders on thaad .trends we expect mfc 2019s net sales to increase in the mid-single digit percentage range in 2017 as compared to 2016 driven primarily by our air and missile defense programs .operating profit is expected to be flat or increase slightly .accordingly , operating profit margin is expected to decline from 2016 levels as a result of contract mix and fewer risk retirements in 2017 compared to 2016 .rotary and mission systems as previously described , on november 6 , 2015 , we acquired sikorsky and aligned the sikorsky business under our rms business segment .the 2015 results of the acquired sikorsky business have been included in our financial results from the november 6 , 2015 acquisition date through december 31 , 2015 .as a result , our consolidated operating results and rms business segment operating results for the year ended december 31 , 2015 do not reflect a full year of sikorsky operations .our rms business segment provides design , manufacture , service and support for a variety of military and civil helicopters , ship and submarine mission and combat systems ; mission systems and sensors for rotary and fixed-wing aircraft ; sea and land-based missile defense systems ; radar systems ; the littoral combat ship ( lcs ) ; simulation and training services ; and unmanned systems and technologies .in addition , rms supports the needs of government customers in cybersecurity and delivers communication and command and control capabilities through complex mission solutions for defense applications .rms 2019 major programs include black hawk and seahawk helicopters , aegis combat system ( aegis ) , lcs , space fence , advanced hawkeye radar system , tpq-53 radar system , ch-53k development helicopter , and vh-92a helicopter program .rms 2019 operating results included the following ( in millions ) : .
[['', '2016', '2015', '2014'], ['net sales', '$ 13462', '$ 9091', '$ 8732'], ['operating profit', '906', '844', '936'], ['operating margin', '6.7% ( 6.7 % )', '9.3% ( 9.3 % )', '10.7% ( 10.7 % )'], ['backlog atyear-end', '$ 28400', '$ 30100', '$ 13300']]
2016 compared to 2015 rms 2019 net sales in 2016 increased $ 4.4 billion , or 48% ( 48 % ) , compared to 2015 .the increase was primarily attributable to higher net sales of approximately $ 4.6 billion from sikorsky , which was acquired on november 6 , 2015 .net sales for 2015 include sikorsky 2019s results subsequent to the acquisition date , net of certain revenue adjustments required to account for the acquisition of this business .this increase was partially offset by lower net sales of approximately $ 70 million for training .
|
what is the growth rate of operating expenses from 2015 to 2016?
|
52.2%
|
{
"answer": "52.2%",
"decimal": 0.522,
"type": "percentage"
}
| |
regulatory balancing accounts accumulate differences between revenues recognized and authorized revenue requirements until they are collected from customers or are refunded .regulatory balancing accounts include low income programs and purchased power and water accounts .debt expense is amortized over the lives of the respective issues .call premiums on the redemption of long- term debt , as well as unamortized debt expense , are deferred and amortized to the extent they will be recovered through future service rates .as a result of american water capital corp . 2019s prepayment of the 5.62% ( 5.62 % ) series c senior notes due december 21 , 2018 ( 201cseries c senior notes 201d ) and 5.77% ( 5.77 % ) series d senior notes due december 21 , 2021 ( 201cseries d senior notes 201d ) and payment of a make-whole premium amount to the holders thereof of $ 34 million , the company recorded a $ 6 million charge resulting from the early extinguishment of debt at the parent company .substantially all of the early debt extinguishment costs allocable to the company 2019s utility subsidiaries were recorded as regulatory assets that the company believes are probable of recovery in future rates .approximately $ 1 million of the early debt extinguishment costs allocable to the company 2019s utility subsidiaries was amortized in 2017 .purchase premium recoverable through rates is primarily the recovery of the acquisition premiums related to an asset acquisition by the company 2019s california utility subsidiary during 2002 , and acquisitions in 2007 by the company 2019s new jersey utility subsidiary .as authorized for recovery by the california and new jersey pucs , these costs are being amortized to depreciation and amortization in the consolidated statements of operations through november 2048 .tank painting costs are generally deferred and amortized to operations and maintenance expense in the consolidated statements of operations on a straight-line basis over periods ranging from two to fifteen years , as authorized by the regulatory authorities in their determination of rates charged for service .other regulatory assets include certain construction costs for treatment facilities , property tax stabilization , employee-related costs , deferred other postretirement benefit expense , business services project expenses , coastal water project costs , rate case expenditures and environmental remediation costs among others .these costs are deferred because the amounts are being recovered in rates or are probable of recovery through rates in future periods .regulatory liabilities regulatory liabilities generally represent amounts that are probable of being credited or refunded to customers through the rate-making process .also , if costs expected to be incurred in the future are currently being recovered through rates , the company records those expected future costs as regulatory liabilities .the following table summarizes the composition of regulatory liabilities as of december 31: .
[['', '2017', '2016'], ['income taxes recovered through rates', '$ 1242', '$ 2014'], ['removal costs recovered through rates', '315', '316'], ['pension and other postretirement benefit balancing accounts', '48', '55'], ['other', '59', '32'], ['total regulatory liabilities', '$ 1664', '$ 403']]
income taxes recovered through rates relate to deferred taxes that will likely be refunded to the company 2019s customers .on december 22 , 2017 , the tcja was signed into law , which , among other things , enacted significant and complex changes to the internal revenue code of 1986 , including a reduction in the maximum u.s .federal corporate income tax rate from 35% ( 35 % ) to 21% ( 21 % ) as of january 1 , 2018 .the tcja created significant .
|
as a result of the addition of income taxes recovered through rates , how much did total regulatory liabilities increase from 2016 to 2017?
|
313%
|
{
"answer": "313%",
"decimal": 3.13,
"type": "percentage"
}
| |
management 2019s discussion and analysis sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure .the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the underlying asset value .the table below presents market risk for positions that are not included in var .these measures do not reflect diversification benefits across asset categories and therefore have not been aggregated .asset categories 10% ( 10 % ) sensitivity amount as of december in millions 2012 2011 .
[['asset categories', 'asset categories', ''], ['in millions', '2012', '2011'], ['icbc', '$ 208', '$ 212'], ['equity ( excluding icbc ) 1', '2263', '2458'], ['debt2', '1676', '1521']]
equity ( excluding icbc ) 1 2263 2458 debt 2 1676 1521 1 .relates to private and restricted public equity securities , including interests in firm-sponsored funds that invest in corporate equities and real estate and interests in firm-sponsored hedge funds .2 .primarily relates to interests in our firm-sponsored funds that invest in corporate mezzanine and senior debt instruments .also includes loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans .var excludes the impact of changes in counterparty and our own credit spreads on derivatives as well as changes in our own credit spreads on unsecured borrowings for which the fair value option was elected .the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a $ 3 million gain ( including hedges ) as of december 2012 .in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on unsecured borrowings for which the fair value option was elected was a $ 7 million gain ( including hedges ) as of december 2012 .however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those unsecured borrowings for which the fair value option was elected , as well as the relative performance of any hedges undertaken .the firm engages in insurance activities where we reinsure and purchase portfolios of insurance risk and pension liabilities .the risks associated with these activities include , but are not limited to : equity price , interest rate , reinvestment and mortality risk .the firm mitigates risks associated with insurance activities through the use of reinsurance and hedging .certain of the assets associated with the firm 2019s insurance activities are included in var .in addition to the positions included in var , we held $ 9.07 billion of securities accounted for as available-for- sale as of december 2012 , which support the firm 2019s reinsurance business .as of december 2012 , our available- for-sale securities primarily consisted of $ 3.63 billion of corporate debt securities with an average yield of 4% ( 4 % ) , the majority of which will mature after five years , $ 3.38 billion of mortgage and other asset-backed loans and securities with an average yield of 6% ( 6 % ) , the majority of which will mature after ten years , and $ 856 million of u.s .government and federal agency obligations with an average yield of 3% ( 3 % ) , the majority of which will mature after five years .as of december 2012 , such assets were classified as held for sale and were included in 201cother assets . 201d see note 12 to the consolidated financial statements for further information about assets held for sale .as of december 2011 , we held $ 4.86 billion of securities accounted for as available-for-sale , primarily consisting of $ 1.81 billion of corporate debt securities with an average yield of 5% ( 5 % ) , the majority of which will mature after five years , $ 1.42 billion of mortgage and other asset-backed loans and securities with an average yield of 10% ( 10 % ) , the majority of which will mature after ten years , and $ 662 million of u.s .government and federal agency obligations with an average yield of 3% ( 3 % ) , the majority of which will mature after ten years .in addition , as of december 2012 and december 2011 , we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group , inc .see note 18 to the consolidated financial statements for further information about such lending commitments .as of december 2012 , the firm also had $ 6.50 billion of loans held for investment which were accounted for at amortized cost and included in 201creceivables from customers and counterparties , 201d substantially all of which had floating interest rates .the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 62 million of additional interest income over a 12-month period , which does not take into account the potential impact of an increase in costs to fund such loans .see note 8 to the consolidated financial statements for further information about loans held for investment .additionally , we make investments accounted for under the equity method and we also make direct investments in real estate , both of which are included in 201cother assets 201d in the consolidated statements of financial condition .direct investments in real estate are accounted for at cost less accumulated depreciation .see note 12 to the consolidated financial statements for information on 201cother assets . 201d goldman sachs 2012 annual report 93 .
|
as of december 2011 , what percentage of available- for-sale securities was comprised of mortgage and other asset-backed loans and securities?
|
36%
|
{
"answer": "36%",
"decimal": 0.36,
"type": "percentage"
}
| |
as of september 24 , 2011 , the total amount of gross unrecognized tax benefits was $ 1.4 billion , of which $ 563 million , if recognized , would affect the company 2019s effective tax rate .as of september 25 , 2010 , the total amount of gross unrecognized tax benefits was $ 943 million , of which $ 404 million , if recognized , would affect the company 2019s effective tax rate .the aggregate changes in the balance of gross unrecognized tax benefits , which excludes interest and penalties , for the three years ended september 24 , 2011 , is as follows ( in millions ) : .
[['', '2011', '2010', '2009'], ['beginning balance', '$ 943', '971', '$ 506'], ['increases related to tax positions taken during a prior year', '49', '61', '341'], ['decreases related to tax positions taken during a prior year', '-39 ( 39 )', '-224 ( 224 )', '-24 ( 24 )'], ['increases related to tax positions taken during the current year', '425', '240', '151'], ['decreases related to settlements with taxing authorities', '0', '-102 ( 102 )', '0'], ['decreases related to expiration of statute of limitations', '-3 ( 3 )', '-3 ( 3 )', '-3 ( 3 )'], ['ending balance', '$ 1375', '$ 943', '$ 971']]
the company includes interest and penalties related to unrecognized tax benefits within the provision for income taxes .as of september 24 , 2011 and september 25 , 2010 , the total amount of gross interest and penalties accrued was $ 261 million and $ 247 million , respectively , which is classified as non-current liabilities in the consolidated balance sheets .in connection with tax matters , the company recognized interest expense in 2011 and 2009 of $ 14 million and $ 64 million , respectively , and in 2010 the company recognized an interest benefit of $ 43 million .the company is subject to taxation and files income tax returns in the u.s .federal jurisdiction and in many state and foreign jurisdictions .for u.s .federal income tax purposes , all years prior to 2004 are closed .the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments .the company has contested certain of these adjustments through the irs appeals office .the irs is currently examining the years 2007 through 2009 .in addition , the company is also subject to audits by state , local and foreign tax authorities .in major states and major foreign jurisdictions , the years subsequent to 1988 and 2001 , respectively , generally remain open and could be subject to examination by the taxing authorities .management believes that an adequate provision has been made for any adjustments that may result from tax examinations .however , the outcome of tax audits cannot be predicted with certainty .if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income tax in the period such resolution occurs .although timing of the resolution and/or closure of audits is not certain , the company does not believe it is reasonably possible that its unrecognized tax benefits would materially change in the next 12 months .note 6 2013 shareholders 2019 equity and share-based compensation preferred stock the company has five million shares of authorized preferred stock , none of which is issued or outstanding .under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock .comprehensive income comprehensive income consists of two components , net income and other comprehensive income .other comprehensive income refers to revenue , expenses , gains and losses that under gaap are recorded as an element .
|
how many years does the irs have under examination?
|
3
|
{
"answer": "3",
"decimal": 3,
"type": "float"
}
|
2006 is the last closed year .
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) as of december 31 , 2006 , the company held a total of ten interest rate swap agreements to manage exposure to variable rate interest obligations under its amt opco and spectrasite credit facilities and four forward starting interest rate swap agreements to manage exposure to variability in cash flows relating to forecasted interest payments in connection with the securitization which the company designated as cash flow hedges .the eight american tower swaps had an aggregate notional amount of $ 450.0 million and fixed rates ranging between 4.63% ( 4.63 % ) and 4.88% ( 4.88 % ) and the two spectrasite swaps have an aggregate notional amount of $ 100.0 million and a fixed rate of 4.95% ( 4.95 % ) .the four forward starting interest rate swap agreements had an aggregate notional amount of $ 900.0 million , fixed rates ranging between 4.73% ( 4.73 % ) and 5.10% ( 5.10 % ) .as of december 31 , 2006 , the company also held three interest rate swap instruments and one interest rate cap instrument that were acquired in the spectrasite , inc .merger in august 2005 and were not designated as cash flow hedges .the three interest rate swaps , which had a fair value of $ 6.7 million at the date of acquisition , have an aggregate notional amount of $ 300.0 million , a fixed rate of 3.88% ( 3.88 % ) .the interest rate cap had a notional amount of $ 175.0 million , a fixed rate of 7.0% ( 7.0 % ) , and expired in february 2006 .as of december 31 , 2006 , other comprehensive income includes unrealized gains on short term available-for-sale securities of $ 10.4 million and unrealized gains related to the interest rate swap agreements in the table above of $ 5.7 million , net of tax .during the year ended december 31 , 2006 , the company recorded a net unrealized gain of approximately $ 6.5 million ( net of a tax provision of approximately $ 3.5 million ) in other comprehensive loss for the change in fair value of interest rate swaps designated as cash flow hedges and reclassified $ 0.7 million ( net of an income tax benefit of $ 0.2 million ) into results of operations during the year ended december 31 , 2006 .9 .commitments and contingencies lease obligations 2014the company leases certain land , office and tower space under operating leases that expire over various terms .many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option .escalation clauses present in operating leases , excluding those tied to cpi or other inflation-based indices , are recognized on a straight-line basis over the non-cancelable term of the lease .( see note 1. ) future minimum rental payments under non-cancelable operating leases include payments for certain renewal periods at the company 2019s option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases , thereby making it reasonably assured that the company will renew the lease .such payments in effect at december 31 , 2007 are as follows ( in thousands ) : year ending december 31 .
[['2008', '$ 217969'], ['2009', '215763'], ['2010', '208548'], ['2011', '199024'], ['2012', '190272'], ['thereafter', '2451496'], ['total', '$ 3483072']]
aggregate rent expense ( including the effect of straight-line rent expense ) under operating leases for the years ended december 31 , 2007 , 2006 and 2005 approximated $ 246.4 million , $ 237.0 million and $ 168.7 million , respectively. .
|
in 2006 what was the approximate tax rate on unrecognized tax gain the in fair value of interest rate swaps designated as cash flow hedges
|
35%
|
{
"answer": "35%",
"decimal": 0.35,
"type": "percentage"
}
| |
consolidated 2005 results of operations was an estimated reduction of gross profit and a corresponding decrease to inventory , at cost , of $ 5.2 million .store pre-opening costs pre-opening costs related to new store openings and the construction periods are expensed as incurred .property and equipment property and equipment are recorded at cost .the company provides for depreciation and amortization on a straight-line basis over the following estimated useful lives: .
[['land improvements', '20'], ['buildings', '39-40'], ['furniture fixtures and equipment', '3-10']]
improvements of leased properties are amortized over the shorter of the life of the applicable lease term or the estimated useful life of the asset .impairment of long-lived assets when indicators of impairment are present , the company evaluates the carrying value of long-lived assets , other than goodwill , in relation to the operating performance and future cash flows or the appraised values of the underlying assets .in accordance with sfas 144 , 201caccounting for the impairment or disposal of long-lived assets , 201d the company reviews for impairment stores open more than two years for which current cash flows from operations are negative .impairment results when the carrying value of the assets exceeds the undiscounted future cash flows over the life of the lease .the company 2019s estimate of undiscounted future cash flows over the lease term is based upon historical operations of the stores and estimates of future store profitability which encompasses many factors that are subject to variability and difficult to predict .if a long-lived asset is found to be impaired , the amount recognized for impairment is equal to the difference between the carrying value and the asset 2019s fair value .the fair value is estimated based primarily upon future cash flows ( discounted at the company 2019s credit adjusted risk-free rate ) or other reasonable estimates of fair market value .assets to be disposed of are adjusted to the fair value less the cost to sell if less than the book value .the company recorded impairment charges , included in sg&a expense , of approximately $ 9.4 million in 2006 , $ 0.6 million in 2005 and $ 0.2 million in 2004 to reduce the carrying value of certain of its stores 2019 assets as deemed necessary due to negative sales trends and cash flows at these locations .the majority of the 2006 charges were recorded pursuant to certain strategic initiatives discussed in note 2 .other assets other assets consist primarily of long-term investments , qualifying prepaid expenses , debt issuance costs which are amortized over the life of the related obligations , utility and security deposits , life insurance policies and goodwill. .
|
what is the yearly depreciation rate on land improvements?
|
5%
|
{
"answer": "5%",
"decimal": 0.05,
"type": "percentage"
}
| |
recognition of deferred revenue related to sanofi-aventis 2019 $ 85.0 million up-front payment decreased in 2010 compared to 2009 due to the november 2009 amendments to expand and extend the companies 2019 antibody collaboration .in connection with the november 2009 amendment of the discovery agreement , sanofi-aventis is funding up to $ 30 million of agreed-upon costs incurred by us to expand our manufacturing capacity at our rensselaer , new york facilities , of which $ 23.4 million was received or receivable from sanofi-aventis as of december 31 , 2010 .revenue related to these payments for such funding from sanofi-aventis is deferred and recognized as collaboration revenue prospectively over the related performance period in conjunction with the recognition of the original $ 85.0 million up-front payment .as of december 31 , 2010 , $ 79.8 million of the sanofi-aventis payments was deferred and will be recognized as revenue in future periods .in august 2008 , we entered into a separate velocigene ae agreement with sanofi-aventis .in 2010 and 2009 , we recognized $ 1.6 million and $ 2.7 million , respectively , in revenue related to this agreement .bayer healthcare collaboration revenue the collaboration revenue we earned from bayer healthcare , as detailed below , consisted of cost sharing of regeneron vegf trap-eye development expenses , substantive performance milestone payments , and recognition of revenue related to a non-refundable $ 75.0 million up-front payment received in october 2006 and a $ 20.0 million milestone payment received in august 2007 ( which , for the purpose of revenue recognition , was not considered substantive ) .years ended bayer healthcare collaboration revenue december 31 .
[['bayer healthcare collaboration revenue', 'bayer healthcare collaboration revenue', ''], ['( in millions )', '2010', '2009'], ['cost-sharing of regeneron vegf trap-eye development expenses', '$ 45.5', '$ 37.4'], ['substantive performance milestone payments', '20.0', '20.0'], ['recognition of deferred revenue related to up-front and other milestone payments', '9.9', '9.9'], ['total bayer healthcare collaboration revenue', '$ 75.4', '$ 67.3']]
cost-sharing of our vegf trap-eye development expenses with bayer healthcare increased in 2010 compared to 2009 due to higher internal development activities and higher clinical development costs in connection with our phase 3 copernicus trial in crvo .in the fourth quarter of 2010 , we earned two $ 10.0 million substantive milestone payments from bayer healthcare for achieving positive 52-week results in the view 1 study and positive 6-month results in the copernicus study .in july 2009 , we earned a $ 20.0 million substantive performance milestone payment from bayer healthcare in connection with the dosing of the first patient in the copernicus study .in connection with the recognition of deferred revenue related to the $ 75.0 million up-front payment and $ 20.0 million milestone payment received in august 2007 , as of december 31 , 2010 , $ 47.0 million of these payments was deferred and will be recognized as revenue in future periods .technology licensing revenue in connection with our velocimmune ae license agreements with astrazeneca and astellas , each of the $ 20.0 million annual , non-refundable payments were deferred upon receipt and recognized as revenue ratably over approximately the ensuing year of each agreement .in both 2010 and 2009 , we recognized $ 40.0 million of technology licensing revenue related to these agreements .in addition , in connection with the amendment and extension of our license agreement with astellas , in august 2010 , we received a $ 165.0 million up-front payment , which was deferred upon receipt and will be recognized as revenue ratably over a seven-year period beginning in mid-2011 .as of december 31 , 2010 , $ 176.6 million of these technology licensing payments was deferred and will be recognized as revenue in future periods .net product sales in 2010 and 2009 , we recognized as revenue $ 25.3 million and $ 18.4 million , respectively , of arcalyst ae net product sales for which both the right of return no longer existed and rebates could be reasonably estimated .the company had limited historical return experience for arcalyst ae beginning with initial sales in 2008 through the end of 2009 ; therefore , arcalyst ae net product sales were deferred until the right of return no longer existed and rebates could be reasonably estimated .effective in the first quarter of 2010 , the company determined that it had .
|
what was the total in 2010 and 2009 for arcalyst ae net product sales?
|
43700000
|
{
"answer": "43700000",
"decimal": 43700000,
"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 operating expense in 2006 is incurred by the increase in stock-based compensation expense due to our adoption of sfas no?
|
47.7%
|
{
"answer": "47.7%",
"decimal": 0.47700000000000004,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements assessments in each of the tax jurisdictions resulting from these examinations .the company believes that adequate provisions have been made for income taxes for all periods through december 31 , 2010 .12 .stock-based compensation the company recognized stock-based compensation of $ 52.6 million , $ 60.7 million and $ 54.8 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively .stock-based compensation for the year ended december 31 , 2009 included $ 6.9 million related to the modification of the vesting and exercise terms for certain employee 2019s equity awards .the company did not capitalize any stock-based compensation during the years ended december 31 , 2010 and 2009 .summary of stock-based compensation plans 2014the company maintains equity incentive plans that provide for the grant of stock-based awards to its directors , officers and employees .under the 2007 equity incentive plan ( 201c2007 plan 201d ) , which provides for the grant of non-qualified and incentive stock options , as well as restricted stock units , restricted stock and other stock-based awards , exercise prices in the case of non-qualified and incentive stock options are not less than the fair market value of the underlying common stock on the date of grant .equity awards typically vest ratably over various periods , generally four years , and generally expire ten years from the date of grant .stock options 2014as of december 31 , 2010 , the company had the ability to grant stock-based awards with respect to an aggregate of 22.0 million shares of common stock under the 2007 plan .the fair value of each option grant is estimated on the date of grant using the black-scholes option pricing model based on the assumptions noted in the table below .the risk-free treasury rate is based on the u.s .treasury yield in effect at the accounting measurement date .the expected life ( estimated period of time outstanding ) was estimated using the vesting term and historical exercise behavior of company employees .the expected volatility was based on historical volatility for a period equal to the expected life of the stock options .key assumptions used to apply this pricing model are as follows: .
[['', '2010', '2009', '2008'], ['range of risk-free interest rate', '1.41% ( 1.41 % ) 2013 2.39% ( 2.39 % )', '1.41% ( 1.41 % ) 2013 2.04% ( 2.04 % )', '1.44% ( 1.44 % ) 2013 3.05% ( 3.05 % )'], ['weighted average risk-free interest rate', '2.35% ( 2.35 % )', '1.71% ( 1.71 % )', '1.89% ( 1.89 % )'], ['expected life of option grants', '4.60 years', '4.00 years', '4.00 years'], ['range of expected volatility of underlying stock price', '37.11% ( 37.11 % ) 2013 37.48% ( 37.48 % )', '36.00% ( 36.00 % ) 2013 36.63% ( 36.63 % )', '28.51% ( 28.51 % ) 2013 35.30% ( 35.30 % )'], ['weighted average expected volatility of underlying stock price', '37.14% ( 37.14 % )', '36.23% ( 36.23 % )', '29.10% ( 29.10 % )'], ['expected annual dividends', 'n/a', 'n/a', 'n/a']]
the weighted average grant date fair value per share during the years ended december 31 , 2010 , 2009 and 2008 was $ 15.03 , $ 8.90 and $ 9.55 , respectively .the intrinsic value of stock options exercised during the years ended december 31 , 2010 , 2009 and 2008 was $ 62.7 million , $ 40.1 million and $ 99.1 million , respectively .as of december 31 , 2010 , total unrecognized compensation expense related to unvested stock options was approximately $ 27.7 million and is expected to be recognized over a weighted average period of approximately two years .the amount of cash received from the exercise of stock options was approximately $ 129.1 million during the year ended december 31 , 2010 .during the year ended december 31 , 2010 , the company realized approximately $ 0.3 million of state tax benefits from the exercise of stock options. .
|
what was the percent of the change in the weighted average risk-free interest rate
|
37.4%
|
{
"answer": "37.4%",
"decimal": 0.374,
"type": "percentage"
}
| |
dispositions of depreciable real estate assets excluded from discontinued operations we recorded a gain on sale of depreciable assets excluded from discontinued operations of $ 190.0 million for the year ended december 31 , 2015 , an increase of approximately $ 147.3 million from the $ 42.6 million gain on sale of depreciable assets recorded for the year ended december 31 , 2014 .the increase was primarily the result of increased disposition activity .dispositions increased from eight multifamily properties for the year ended december 31 , 2014 , to 21 multifamily properties for the year ended december 31 , 2015 .gain from real estate joint ventures we recorded a gain from real estate joint ventures of $ 6.0 million during the year ended december 31 , 2014 as opposed to no material gain or loss being recorded during the year ended december 31 , 2015 .the decrease was primarily a result of recording a $ 3.4 million gain for the disposition of ansley village by mid-america multifamily fund ii , or fund ii , as well as a $ 2.8 million gain for the promote fee received from our fund ii partner during 2014 .the promote fee was received as a result of maa achieving certain performance metrics in its management of the fund ii properties over the life of the joint venture .there were no such gains recorded during the year ended december 31 , 2015 .discontinued operations we recorded a gain on sale of discontinued operations of $ 5.4 million for the year ended december 31 , 2014 .we did not record a gain or loss on sale of discontinued operations during the year ended december 31 , 2015 , due to the adoption of asu 2014-08 , reporting discontinued operations and disclosures of disposals of components of an entity , which resulted in dispositions being included in the gain on sale of depreciable real estate assets excluded from discontinued operations and is discussed further below .net income attributable to noncontrolling interests net income attributable to noncontrolling interests for the year ended december 31 , 2015 was approximately $ 18.5 million , an increase of $ 10.2 million from the year ended december 31 , 2014 .this increase is consistent with the increase to overall net income and is primarily a result of the items discussed above .net income attributable to maa primarily as a result of the items discussed above , net income attributable to maa increased by approximately $ 184.3 million in the year ended december 31 , 2015 from the year ended december 31 , 2014 .comparison of the year ended december 31 , 2014 to the year ended december 31 , 2013 the comparison of the year ended december 31 , 2014 to the year ended december 31 , 2013 shows the segment break down based on the 2014 same store portfolios .a comparison using the 2015 same store portfolio would not be comparative due to the nature of the classifications as a result of the merger .property revenues the following table shows our property revenues by segment for the years ended december 31 , 2014 and december 31 , 2013 ( dollars in thousands ) : year ended december 31 , 2014 year ended december 31 , 2013 increase percentage increase .
[['', 'year ended december 31 2014', 'year ended december 31 2013', 'increase', 'percentage increase'], ['large market same store', '$ 252029', '$ 241194', '$ 10835', '4.5% ( 4.5 % )'], ['secondary market same store', '246800', '242464', '4336', '1.8% ( 1.8 % )'], ['same store portfolio', '498829', '483658', '15171', '3.1% ( 3.1 % )'], ['non-same store and other', '493349', '151185', '342164', '226.3% ( 226.3 % )'], ['total', '$ 992178', '$ 634843', '$ 357335', '56.3% ( 56.3 % )']]
job title mid-america apartment 10-k revision 1 serial <12345678> date sunday , march 20 , 2016 job number 304352-1 type page no .51 operator abigaels .
|
what was the net income attributable to noncontrolling interests net income attributable to noncontrolling interests for the year ended december 31 , 2014 in million
|
8.3
|
{
"answer": "8.3",
"decimal": 8.3,
"type": "float"
}
|
the net income attributable to noncontrolling interests net income attributable to noncontrolling interests for the year ended december 31 , 2014 was 8.2 million
|
as of september 24 , 2011 , the total amount of gross unrecognized tax benefits was $ 1.4 billion , of which $ 563 million , if recognized , would affect the company 2019s effective tax rate .as of september 25 , 2010 , the total amount of gross unrecognized tax benefits was $ 943 million , of which $ 404 million , if recognized , would affect the company 2019s effective tax rate .the aggregate changes in the balance of gross unrecognized tax benefits , which excludes interest and penalties , for the three years ended september 24 , 2011 , is as follows ( in millions ) : .
[['', '2011', '2010', '2009'], ['beginning balance', '$ 943', '971', '$ 506'], ['increases related to tax positions taken during a prior year', '49', '61', '341'], ['decreases related to tax positions taken during a prior year', '-39 ( 39 )', '-224 ( 224 )', '-24 ( 24 )'], ['increases related to tax positions taken during the current year', '425', '240', '151'], ['decreases related to settlements with taxing authorities', '0', '-102 ( 102 )', '0'], ['decreases related to expiration of statute of limitations', '-3 ( 3 )', '-3 ( 3 )', '-3 ( 3 )'], ['ending balance', '$ 1375', '$ 943', '$ 971']]
the company includes interest and penalties related to unrecognized tax benefits within the provision for income taxes .as of september 24 , 2011 and september 25 , 2010 , the total amount of gross interest and penalties accrued was $ 261 million and $ 247 million , respectively , which is classified as non-current liabilities in the consolidated balance sheets .in connection with tax matters , the company recognized interest expense in 2011 and 2009 of $ 14 million and $ 64 million , respectively , and in 2010 the company recognized an interest benefit of $ 43 million .the company is subject to taxation and files income tax returns in the u.s .federal jurisdiction and in many state and foreign jurisdictions .for u.s .federal income tax purposes , all years prior to 2004 are closed .the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments .the company has contested certain of these adjustments through the irs appeals office .the irs is currently examining the years 2007 through 2009 .in addition , the company is also subject to audits by state , local and foreign tax authorities .in major states and major foreign jurisdictions , the years subsequent to 1988 and 2001 , respectively , generally remain open and could be subject to examination by the taxing authorities .management believes that an adequate provision has been made for any adjustments that may result from tax examinations .however , the outcome of tax audits cannot be predicted with certainty .if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income tax in the period such resolution occurs .although timing of the resolution and/or closure of audits is not certain , the company does not believe it is reasonably possible that its unrecognized tax benefits would materially change in the next 12 months .note 6 2013 shareholders 2019 equity and share-based compensation preferred stock the company has five million shares of authorized preferred stock , none of which is issued or outstanding .under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock .comprehensive income comprehensive income consists of two components , net income and other comprehensive income .other comprehensive income refers to revenue , expenses , gains and losses that under gaap are recorded as an element .
|
what was the increase in interest expense between 2009 and 2011?
|
50
|
{
"answer": "50",
"decimal": 50,
"type": "float"
}
| |
five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 .the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2010 and that all dividends were reinvested .the information below is historical in nature and is not necessarily indicative of future performance .purchases of equity securities 2013 during 2015 , we repurchased 36921641 shares of our common stock at an average price of $ 99.16 .the following table presents common stock repurchases during each month for the fourth quarter of 2015 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares remaining under the plan or program [b] .
[['period', 'total number of shares purchased [a]', 'average price paid per share', 'total number of shares purchased as part of a publicly announcedplan or program [b]', 'maximum number of shares remaining under the plan or program [b]'], ['oct . 1 through oct . 31', '3247731', '$ 92.98', '3221153', '56078192'], ['nov . 1 through nov . 30', '2325865', '86.61', '2322992', '53755200'], ['dec . 1 through dec . 31', '1105389', '77.63', '1102754', '52652446'], ['total', '6678985', '$ 88.22', '6646899', 'n/a']]
[a] total number of shares purchased during the quarter includes approximately 32086 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares .[b] effective january 1 , 2014 , our board of directors authorized the repurchase of up to 120 million shares of our common stock by december 31 , 2017 .these repurchases may be made on the open market or through other transactions .our management has sole discretion with respect to determining the timing and amount of these transactions. .
|
in the fourth quarter ended december 31 , 2015 what was the percent of the total number of shares purchased that was attributable to the employees to pay stock option exercise prices , satisfy excess tax withholding obligations
|
0.5%
|
{
"answer": "0.5%",
"decimal": 0.005,
"type": "percentage"
}
| |
when the likelihood of clawback is considered mathematically improbable .the company records a deferred carried interest liability to the extent it receives cash or capital allocations related to carried interest prior to meeting the revenue recognition criteria .at december 31 , 2017 and 2016 , the company had $ 219 million and $ 152 million , respectively , of deferred carried interest recorded in other liabilities/other liabilities of consolidated vies on the consolidated statements of financial condition .a portion of the deferred carried interest liability will be paid to certain employees .the ultimate timing of the recognition of performance fee revenue , if any , for these products is unknown .the following table presents changes in the deferred carried interest liability ( including the portion related to consolidated vies ) for 2017 and 2016: .
[['( in millions )', '2017', '2016'], ['beginning balance', '$ 152', '$ 143'], ['net increase ( decrease ) in unrealized allocations', '75', '37'], ['performance fee revenue recognized', '-21 ( 21 )', '-28 ( 28 )'], ['acquisition', '13', '2014'], ['ending balance', '$ 219', '$ 152']]
for 2017 , 2016 and 2015 , performance fee revenue ( which included recognized carried interest ) totaled $ 594 million , $ 295 million and $ 621 million , respectively .fees earned for technology and risk management revenue are recorded as services are performed and are generally determined using the value of positions on the aladdin platform or on a fixed-rate basis .for 2017 , 2016 and 2016 , technology and risk management revenue totaled $ 677 million , $ 595 million and $ 528 million , respectively .adjustments to revenue arising from initial estimates recorded historically have been immaterial since the majority of blackrock 2019s investment advisory and administration revenue is calculated based on aum and since the company does not record performance fee revenue until performance thresholds have been exceeded and the likelihood of clawback is mathematically improbable .accounting developments recent accounting pronouncements not yet adopted .revenue from contracts with customers .in may 2014 , the financial accounting standards board ( 201cfasb 201d ) issued accounting standards update ( 201casu 201d ) 2014-09 , revenue from contracts with customers ( 201casu 2014-09 201d ) .asu 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance , including industry-specific guidance .the guidance also changes the accounting for certain contract costs and revises the criteria for determining if an entity is acting as a principal or agent in certain arrangements .the key changes in the standard that impact the company 2019s revenue recognition relate to the presentation of certain revenue contracts and associated contract costs .the most significant of these changes relates to the presentation of certain distribution costs , which are currently presented net against revenues ( contra-revenue ) and will be presented as an expense on a gross basis .the company adopted asu 2014-09 effective january 1 , 2018 on a full retrospective basis , which will require 2016 and 2017 to be restated in future filings .the cumulative effect adjustment to the 2016 opening retained earnings was not material .the company currently expects the net gross up to revenue to be approximately $ 1 billion with a corresponding gross up to expense for both 2016 and 2017 .consequently , the company expects its gaap operating margin to decline upon adoption due to the gross up of revenue .however , no material impact is expected on the company 2019s as adjusted operating margin .for accounting pronouncements that the company adopted during the year ended december 31 , 2017 and for additional recent accounting pronouncements not yet adopted , see note 2 , significant accounting policies , in the consolidated financial statements contained in part ii , item 8 of this filing .item 7a .quantitative and qualitative disclosures about market risk aum market price risk .blackrock 2019s investment advisory and administration fees are primarily comprised of fees based on a percentage of the value of aum and , in some cases , performance fees expressed as a percentage of the returns realized on aum .at december 31 , 2017 , the majority of the company 2019s investment advisory and administration fees were based on average or period end aum of the applicable investment funds or separate accounts .movements in equity market prices , interest rates/credit spreads , foreign exchange rates or all three could cause the value of aum to decline , which would result in lower investment advisory and administration fees .corporate investments portfolio risks .as a leading investment management firm , blackrock devotes significant resources across all of its operations to identifying , measuring , monitoring , managing and analyzing market and operating risks , including the management and oversight of its own investment portfolio .the board of directors of the company has adopted guidelines for the review of investments to be made by the company , requiring , among other things , that investments be reviewed by certain senior officers of the company , and that certain investments may be referred to the audit committee or the board of directors , depending on the circumstances , for approval .in the normal course of its business , blackrock is exposed to equity market price risk , interest rate/credit spread risk and foreign exchange rate risk associated with its corporate investments .blackrock has investments primarily in sponsored investment products that invest in a variety of asset classes , including real assets , private equity and hedge funds .investments generally are made for co-investment purposes , to establish a performance track record , to hedge exposure to certain deferred compensation plans or for regulatory purposes .currently , the company has a seed capital hedging program in which it enters into swaps to hedge market and interest rate exposure to certain investments .at december 31 , 2017 , the company had outstanding total return swaps with an aggregate notional value of approximately $ 587 million .at december 31 , 2017 , there were no outstanding interest rate swaps. .
|
what was the total increase from acquisitions and unrealized allocations ? in millions $ .
|
125
|
{
"answer": "125",
"decimal": 125,
"type": "float"
}
| |
five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 .the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2007 and that all dividends were reinvested .purchases of equity securities 2013 during 2012 , we repurchased 13804709 shares of our common stock at an average price of $ 115.33 .the following table presents common stock repurchases during each month for the fourth quarter of 2012 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares that may yet be purchased under the plan or program [b] .
[['period', 'total number ofsharespurchased [a]', 'averageprice paidper share', 'total number of sharespurchased as part of apublicly announced planor program [b]', 'maximum number ofshares that may yetbe purchased under the planor program [b]'], ['oct . 1 through oct . 31', '1068414', '121.70', '1028300', '16041399'], ['nov . 1 through nov . 30', '659631', '120.84', '655000', '15386399'], ['dec . 1 through dec . 31', '411683', '124.58', '350450', '15035949'], ['total', '2139728', '$ 121.99', '2033750', 'n/a']]
[a] total number of shares purchased during the quarter includes approximately 105978 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares .[b] on april 1 , 2011 , our board of directors authorized the repurchase of up to 40 million shares of our common stock by march 31 , 2014 .these repurchases may be made on the open market or through other transactions .our management has sole discretion with respect to determining the timing and amount of these transactions. .
|
what was the cost of total share repurchases during 2012?
|
1592097089
|
{
"answer": "1592097089",
"decimal": 1592097089,
"type": "float"
}
| |
investments prior to our acquisition of keystone on october 12 , 2007 , we held common shares of keystone , which were classified as an available-for-sale investment security .accordingly , the investment was included in other assets at its fair value , with the unrealized gain excluded from earnings and included in accumulated other comprehensive income , net of applicable taxes .upon our acquisition of keystone on october 12 , 2007 , the unrealized gain was removed from accumulated other comprehensive income , net of applicable taxes , and the original cost of the common shares was considered a component of the purchase price .fair value of financial instruments our debt is reflected on the balance sheet at cost .based on current market conditions , our interest rate margins are below the rate available in the market , which causes the fair value of our debt to fall below the carrying value .the fair value of our term loans ( see note 6 , 201clong-term obligations 201d ) is approximately $ 570 million at december 31 , 2009 , as compared to the carrying value of $ 596 million .we estimated the fair value of our term loans by calculating the upfront cash payment a market participant would require to assume our obligations .the upfront cash payment , excluding any issuance costs , is the amount that a market participant would be able to lend at december 31 , 2009 to an entity with a credit rating similar to ours and achieve sufficient cash inflows to cover the scheduled cash outflows under our term loans .the carrying amounts of our cash and equivalents , net trade receivables and accounts payable approximate fair value .we apply the market approach to value our financial assets and liabilities , which include the cash surrender value of life insurance , deferred compensation liabilities and interest rate swaps .the market approach utilizes available market information to estimate fair value .required fair value disclosures are included in note 8 , 201cfair value measurements . 201d accrued expenses we self-insure a portion of employee medical benefits under the terms of our employee health insurance program .we purchase certain stop-loss insurance to limit our liability exposure .we also self-insure a portion of our property and casualty risk , which includes automobile liability , general liability , workers 2019 compensation and property under deductible insurance programs .the insurance premium costs are expensed over the contract periods .a reserve for liabilities associated with these losses is established for claims filed and claims incurred but not yet reported based upon our estimate of ultimate cost , which is calculated using analyses of historical data .we monitor new claims and claim development as well as trends related to the claims incurred but not reported in order to assess the adequacy of our insurance reserves .self-insurance reserves on the consolidated balance sheets are net of claims deposits of $ 0.7 million and $ 0.8 million , at december 31 , 2009 and 2008 , respectively .while we do not expect the amounts ultimately paid to differ significantly from our estimates , our insurance reserves and corresponding expenses could be affected if future claim experience differs significantly from historical trends and assumptions .product warranties some of our mechanical products are sold with a standard six-month warranty against defects .we record the estimated warranty costs at the time of sale using historical warranty claim information to project future warranty claims activity and related expenses .the changes in the warranty reserve are as follows ( in thousands ) : .
[['balance as of january 1 2008', '$ 580'], ['warranty expense', '3681'], ['warranty claims', '-3721 ( 3721 )'], ['balance as of december 31 2008', '540'], ['warranty expense', '5033'], ['warranty claims', '-4969 ( 4969 )'], ['balance as of december 31 2009', '$ 604']]
.
|
what was the percentage change in warranty reserves from 2008 to 2009?
|
12%
|
{
"answer": "12%",
"decimal": 0.12,
"type": "percentage"
}
| |
management 2019s discussion and analysis 114 jpmorgan chase & co./2017 annual report derivative contracts in the normal course of business , the firm uses derivative instruments predominantly for market-making activities .derivatives enable counterparties to manage exposures to fluctuations in interest rates , currencies and other markets .the firm also uses derivative instruments to manage its own credit and other market risk exposure .the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed .for otc derivatives the firm is exposed to the credit risk of the derivative counterparty .for exchange- traded derivatives ( 201cetd 201d ) , such as futures and options , and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp .where possible , the firm seeks to mitigate its credit risk exposures arising from derivative transactions through the use of legally enforceable master netting arrangements and collateral agreements .for further discussion of derivative contracts , counterparties and settlement types , see note 5 .the following table summarizes the net derivative receivables for the periods presented .derivative receivables .
[['december 31 ( in millions )', '2017', '2016'], ['interest rate', '$ 24673', '$ 28302'], ['credit derivatives', '869', '1294'], ['foreign exchange', '16151', '23271'], ['equity', '7882', '4939'], ['commodity', '6948', '6272'], ['total net of cash collateral', '56523', '64078'], ['liquid securities and other cash collateral held against derivative receivables ( a )', '-16108 ( 16108 )', '-22705 ( 22705 )'], ['total net of all collateral', '$ 40415', '$ 41373']]
( a ) includes collateral related to derivative instruments where an appropriate legal opinion has not been either sought or obtained .derivative receivables reported on the consolidated balance sheets were $ 56.5 billion and $ 64.1 billion at december 31 , 2017 and 2016 , respectively .derivative receivables decreased predominantly as a result of client- driven market-making activities in cib markets , which reduced foreign exchange and interest rate derivative receivables , and increased equity derivative receivables , driven by market movements .derivative receivables amounts represent the fair value of the derivative contracts after giving effect to legally enforceable master netting agreements and cash collateral held by the firm .however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s .government and agency securities and other group of seven nations ( 201cg7 201d ) government bonds ) and other cash collateral held by the firm aggregating $ 16.1 billion and $ 22.7 billion at december 31 , 2017 and 2016 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor .in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily cash , g7 government securities , other liquid government-agency and guaranteed securities , and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date .although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative transactions move in the firm 2019s favor .the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit .for additional information on the firm 2019s use of collateral agreements , see note 5 .while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure .to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) .these measures all incorporate netting and collateral benefits , where applicable .peak represents a conservative measure of potential exposure to a counterparty calculated in a manner that is broadly equivalent to a 97.5% ( 97.5 % ) confidence level over the life of the transaction .peak is the primary measure used by the firm for setting of credit limits for derivative transactions , senior management reporting and derivatives exposure management .dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be equivalent to the risk of loan exposures .dre is a less extreme measure of potential credit loss than peak and is used for aggregating derivative credit risk exposures with loans and other credit risk .finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral .avg exposure over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit risk capital and the cva , as further described below .the three year avg exposure was $ 29.0 billion and $ 31.1 billion at december 31 , 2017 and 2016 , respectively , compared with derivative receivables , net of all collateral , of $ 40.4 billion and $ 41.4 billion at december 31 , 2017 and 2016 , respectively .the fair value of the firm 2019s derivative receivables incorporates cva to reflect the credit quality of counterparties .cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market .the firm believes that active risk management is essential to controlling the dynamic credit risk in the derivatives portfolio .in addition , the firm 2019s risk management process takes into consideration the potential .
|
what was the ratio of the derivative receivables reported on the consolidated balance sheets for 2016 to 2017
|
1.14
|
{
"answer": "1.14",
"decimal": 1.14,
"type": "float"
}
| |
stock performance graph : the graph below shows the cumulative total shareholder return assuming the investment of $ 100 , on december 31 , 2012 , and the reinvestment of dividends thereafter , if any , in the company 2019s common stock versus the standard and poor 2019s s&p 500 retail index ( 201cs&p 500 retail index 201d ) and the standard and poor 2019s s&p 500 index ( 201cs&p 500 201d ) . .
[['company/index', 'december 31 , 2012', 'december 31 , 2013', 'december 31 , 2014', 'december 31 , 2015', 'december 31 , 2016', 'december 31 , 2017'], ['o 2019reilly automotive inc .', '$ 100', '$ 144', '$ 215', '$ 283', '$ 311', '$ 269'], ['s&p 500 retail index', '100', '144', '158', '197', '206', '265'], ['s&p 500', '$ 100', '$ 130', '$ 144', '$ 143', '$ 157', '$ 187']]
.
|
what is the roi of an investment in s&p500 from 2014 to 2016?
|
9.0%
|
{
"answer": "9.0%",
"decimal": 0.09,
"type": "percentage"
}
| |
item 7 .management 2019s discussion and analysis of financial condition and results of operations executive summary international paper 2019s operating results in 2006 bene- fited from strong gains in pricing and sales volumes and lower operating costs .our average paper and packaging prices in 2006 increased faster than our costs for the first time in four years .the improve- ment in sales volumes reflects increased uncoated papers , corrugated box , coated paperboard and european papers shipments , as well as improved revenues from our xpedx distribution business .our manufacturing operations also made solid cost reduction improvements .lower interest expense , reflecting debt repayments in 2005 and 2006 , was also a positive factor .together , these improvements more than offset the effects of continued high raw material and distribution costs , lower real estate sales , higher net corporate expenses and lower con- tributions from businesses and forestlands divested during 2006 .looking forward to 2007 , we expect seasonally higher sales volumes in the first quarter .average paper price realizations should continue to improve as we implement previously announced price increases in europe and brazil .input costs for energy , fiber and chemicals are expected to be mixed , although slightly higher in the first quarter .operating results will benefit from the recently completed international paper/sun paperboard joint ventures in china and the addition of the luiz anto- nio paper mill to our operations in brazil .however , primarily as a result of lower real estate sales in the first quarter , we anticipate earnings from continuing operations will be somewhat lower than in the 2006 fourth quarter .significant steps were also taken in 2006 in the execution of the company 2019s transformation plan .we completed the sales of our u.s .and brazilian coated papers businesses and 5.6 million acres of u.s .forestlands , and announced definitive sale agreements for our kraft papers , beverage pack- aging and arizona chemical businesses and a majority of our wood products business , all expected to close during 2007 .through december 31 , 2006 , we have received approximately $ 9.7 billion of the estimated proceeds from divest- itures announced under this plan of approximately $ 11.3 billion , with the balance to be received as the remaining divestitures are completed in the first half of 2007 .we have strengthened our balance sheet by reducing debt by $ 6.2 billion , and returned value to our shareholders by repurchasing 39.7 million shares of our common stock for approximately $ 1.4 billion .we made a $ 1.0 billion voluntary contribution to our u.s .qualified pension fund .we have identified selective reinvestment opportunities totaling approx- imately $ 2.0 billion , including opportunities in china , brazil and russia .finally , we remain focused on our three-year $ 1.2 billion target for non-price profit- ability improvements , with $ 330 million realized during 2006 .while more remains to be done in 2007 , we have made substantial progress toward achiev- ing the objectives announced at the outset of the plan in july 2005 .results of operations industry segment operating profits are used by inter- national paper 2019s management to measure the earn- ings performance of its businesses .management believes that this measure allows a better under- standing of trends in costs , operating efficiencies , prices and volumes .industry segment operating profits are defined as earnings before taxes and minority interest , interest expense , corporate items and corporate special items .industry segment oper- ating profits are defined by the securities and exchange commission as a non-gaap financial measure , and are not gaap alternatives to net income or any other operating measure prescribed by accounting principles generally accepted in the united states .international paper operates in six segments : print- ing papers , industrial packaging , consumer pack- aging , distribution , forest products and specialty businesses and other .the following table shows the components of net earnings ( loss ) for each of the last three years : in millions 2006 2005 2004 .
[['in millions', '2006', '2005', '2004'], ['industry segment operating profits', '$ 2074', '$ 1622', '$ 1703'], ['corporate items net', '-746 ( 746 )', '-607 ( 607 )', '-477 ( 477 )'], ['corporate special items*', '2373', '-134 ( 134 )', '-141 ( 141 )'], ['interest expense net', '-521 ( 521 )', '-595 ( 595 )', '-712 ( 712 )'], ['minority interest', '-9 ( 9 )', '-9 ( 9 )', '-21 ( 21 )'], ['income tax ( provision ) benefit', '-1889 ( 1889 )', '407', '-114 ( 114 )'], ['discontinued operations', '-232 ( 232 )', '416', '-273 ( 273 )'], ['net earnings ( loss )', '$ 1050', '$ 1100', '$ -35 ( 35 )']]
* corporate special items include gains on transformation plan forestland sales , goodwill impairment charges , restructuring and other charges , net losses on sales and impairments of businesses , insurance recoveries and reversals of reserves no longer required. .
|
what was the percentage change in industry segment operating profits from 2005 to 2006?
|
28%
|
{
"answer": "28%",
"decimal": 0.28,
"type": "percentage"
}
| |
in addition , included in the loan table are purchased distressed loans , which are loans that have evidenced significant credit deterioration subsequent to origination but prior to acquisition by citigroup .in accordance with sop 03-3 , the difference between the total expected cash flows for these loans and the initial recorded investments is recognized in income over the life of the loans using a level yield .accordingly , these loans have been excluded from the impaired loan information presented above .in addition , per sop 03-3 , subsequent decreases to the expected cash flows for a purchased distressed loan require a build of an allowance so the loan retains its level yield .however , increases in the expected cash flows are first recognized as a reduction of any previously established allowance and then recognized as income prospectively over the remaining life of the loan by increasing the loan 2019s level yield .where the expected cash flows cannot be reliably estimated , the purchased distressed loan is accounted for under the cost recovery method .the carrying amount of the purchased distressed loan portfolio at december 31 , 2009 was $ 825 million net of an allowance of $ 95 million .the changes in the accretable yield , related allowance and carrying amount net of accretable yield for 2009 are as follows : in millions of dollars accretable carrying amount of loan receivable allowance .
[['in millions of dollars', 'accretable yield', 'carrying amount of loan receivable', 'allowance'], ['beginning balance', '$ 92', '$ 1510', '$ 122'], ['purchases ( 1 )', '14', '329', '2014'], ['disposals/payments received', '-5 ( 5 )', '-967 ( 967 )', '2014'], ['accretion', '-52 ( 52 )', '52', '2014'], ['builds ( reductions ) to the allowance', '-21 ( 21 )', '1', '-27 ( 27 )'], ['increase to expected cash flows', '10', '2', '2014'], ['fx/other', '-11 ( 11 )', '-7 ( 7 )', '2014'], ['balance december 31 2009 ( 2 )', '$ 27', '$ 920', '$ 95']]
( 1 ) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $ 87 million of purchased loans accounted for under the level-yield method and $ 242 million under the cost-recovery method .these balances represent the fair value of these loans at their acquisition date .the related total expected cash flows for the level-yield loans were $ 101 million at their acquisition dates .( 2 ) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $ 561 million of loans accounted for under the level-yield method and $ 359 million accounted for under the cost-recovery method. .
|
in 2009 what was the percent of the purchases included in the total carrying amount of loan receivable
|
35.8%
|
{
"answer": "35.8%",
"decimal": 0.358,
"type": "percentage"
}
| |
there were no options granted in excess of market value in 2011 , 2010 or 2009 .shares of common stock available during the next year for the granting of options and other awards under the incentive plans were 33775543 at december 31 , 2011 .total shares of pnc common stock authorized for future issuance under equity compensation plans totaled 35304422 shares at december 31 , 2011 , which includes shares available for issuance under the incentive plans and the employee stock purchase plan ( espp ) as described below .during 2011 , we issued 731336 shares from treasury stock in connection with stock option exercise activity .as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises .awards granted to non-employee directors in 2011 , 2010 and 2009 include 27090 , 29040 , and 39552 deferred stock units , respectively , awarded under the outside directors deferred stock unit plan .a deferred stock unit is a phantom share of our common stock , which requires liability accounting treatment until such awards are paid to the participants as cash .as there are no vesting or service requirements on these awards , total compensation expense is recognized in full on awarded deferred stock units on the date of grant .incentive/performance unit share awards and restricted stock/unit awards the fair value of nonvested incentive/performance unit share awards and restricted stock/unit awards is initially determined based on prices not less than the market value of our common stock price on the date of grant .the value of certain incentive/ performance unit share awards is subsequently remeasured based on the achievement of one or more financial and other performance goals generally over a three-year period .the personnel and compensation committee of the board of directors approves the final award payout with respect to incentive/performance unit share awards .restricted stock/unit awards have various vesting periods generally ranging from 36 months to 60 months .beginning in 2011 , we incorporated two changes to certain awards under our existing long-term incentive compensation programs .first , for certain grants of incentive performance units , the future payout amount will be subject to a negative annual adjustment if pnc fails to meet certain risk-related performance metrics .this adjustment is in addition to the existing financial performance metrics relative to our peers .these grants have a three-year performance period and are payable in either stock or a combination of stock and cash .second , performance-based restricted share units ( performance rsus ) were granted in 2011 to certain of our executives in lieu of stock options .these performance rsus ( which are payable solely in stock ) have a service condition , an internal risk-related performance condition , and an external market condition .satisfaction of the performance condition is based on four independent one-year performance periods .the weighted-average grant-date fair value of incentive/ performance unit share awards and restricted stock/unit awards granted in 2011 , 2010 and 2009 was $ 63.25 , $ 54.59 and $ 41.16 per share , respectively .we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program .nonvested incentive/performance unit share awards and restricted stock/unit awards 2013 rollforward shares in thousands nonvested incentive/ performance unit shares weighted- average date fair nonvested restricted stock/ shares weighted- average date fair .
[['shares in thousands december 31 2010', 'nonvested incentive/ performance unit shares 363', 'weighted- average grant date fair value $ 56.40', 'nonvested restricted stock/ unit shares 2250', 'weighted- average grant date fair value $ 49.95'], ['granted', '623', '64.21', '1059', '62.68'], ['vested', '-156 ( 156 )', '59.54', '-706 ( 706 )', '51.27'], ['forfeited', '', '', '-91 ( 91 )', '52.24'], ['december 31 2011', '830', '$ 61.68', '2512', '$ 54.87']]
in the chart above , the unit shares and related weighted- average grant-date fair value of the incentive/performance awards exclude the effect of dividends on the underlying shares , as those dividends will be paid in cash .at december 31 , 2011 , there was $ 61 million of unrecognized deferred compensation expense related to nonvested share- based compensation arrangements granted under the incentive plans .this cost is expected to be recognized as expense over a period of no longer than five years .the total fair value of incentive/performance unit share and restricted stock/unit awards vested during 2011 , 2010 and 2009 was approximately $ 52 million , $ 39 million and $ 47 million , respectively .liability awards we grant annually cash-payable restricted share units to certain executives .the grants were made primarily as part of an annual bonus incentive deferral plan .while there are time- based and service-related vesting criteria , there are no market or performance criteria associated with these awards .compensation expense recognized related to these awards was recorded in prior periods as part of annual cash bonus criteria .as of december 31 , 2011 , there were 753203 of these cash- payable restricted share units outstanding .174 the pnc financial services group , inc .2013 form 10-k .
|
were there more isos granted in the year than restricted stock units?
|
no
|
{
"answer": "no",
"decimal": null,
"type": "bool"
}
| |
notes to consolidated financial statements fifth third bancorp 81 vii held by the trust vii bear a fixed rate of interest of 8.875% ( 8.875 % ) until may 15 , 2058 .thereafter , the notes pay a floating rate at three-month libor plus 500 bp .the bancorp entered into an interest rate swap to convert $ 275 million of the fixed-rate debt into floating .at december 31 , 2008 , the rate paid on the swap was 6.05% ( 6.05 % ) .the jsn vii may be redeemed at the option of the bancorp on or after may 15 , 2013 , or in certain other limited circumstances , at a redemption price of 100% ( 100 % ) of the principal amount plus accrued but unpaid interest .all redemptions are subject to certain conditions and generally require approval by the federal reserve board .subsidiary long-term borrowings the senior fixed-rate bank notes due from 2009 to 2019 are the obligations of a subsidiary bank .the maturities of the face value of the senior fixed-rate bank notes are as follows : $ 36 million in 2009 , $ 800 million in 2010 and $ 275 million in 2019 .the bancorp entered into interest rate swaps to convert $ 1.1 billion of the fixed-rate debt into floating rates .at december 31 , 2008 , the rates paid on these swaps were 2.19% ( 2.19 % ) on $ 800 million and 2.20% ( 2.20 % ) on $ 275 million .in august 2008 , $ 500 million of senior fixed-rate bank notes issued in july of 2003 matured and were paid .these long-term bank notes were issued to third-party investors at a fixed rate of 3.375% ( 3.375 % ) .the senior floating-rate bank notes due in 2013 are the obligations of a subsidiary bank .the notes pay a floating rate at three-month libor plus 11 bp .the senior extendable notes consist of $ 797 million that currently pay interest at three-month libor plus 4 bp and $ 400 million that pay at the federal funds open rate plus 12 bp .the subordinated fixed-rate bank notes due in 2015 are the obligations of a subsidiary bank .the bancorp entered into interest rate swaps to convert the fixed-rate debt into floating rate .at december 31 , 2008 , the weighted-average rate paid on the swaps was 3.29% ( 3.29 % ) .the junior subordinated floating-rate bank notes due in 2032 and 2033 were assumed by a bancorp subsidiary as part of the acquisition of crown in november 2007 .two of the notes pay floating at three-month libor plus 310 and 325 bp .the third note pays floating at six-month libor plus 370 bp .the three-month libor plus 290 bp and the three-month libor plus 279 bp junior subordinated debentures due in 2033 and 2034 , respectively , were assumed by a subsidiary of the bancorp in connection with the acquisition of first national bank .the obligations were issued to fnb statutory trusts i and ii , respectively .the junior subordinated floating-rate bank notes due in 2035 were assumed by a bancorp subsidiary as part of the acquisition of first charter in may 2008 .the obligations were issued to first charter capital trust i and ii , respectively .the notes of first charter capital trust i and ii pay floating at three-month libor plus 169 bp and 142 bp , respectively .the bancorp has fully and unconditionally guaranteed all obligations under the acquired trust preferred securities .at december 31 , 2008 , fhlb advances have rates ranging from 0% ( 0 % ) to 8.34% ( 8.34 % ) , with interest payable monthly .the advances are secured by certain residential mortgage loans and securities totaling $ 8.6 billion .at december 31 , 2008 , $ 2.5 billion of fhlb advances are floating rate .the bancorp has interest rate caps , with a notional of $ 1.5 billion , held against its fhlb advance borrowings .the $ 3.6 billion in advances mature as follows : $ 1.5 billion in 2009 , $ 1 million in 2010 , $ 2 million in 2011 , $ 1 billion in 2012 and $ 1.1 billion in 2013 and thereafter .medium-term senior notes and subordinated bank notes with maturities ranging from one year to 30 years can be issued by two subsidiary banks , of which $ 3.8 billion was outstanding at december 31 , 2008 with $ 16.2 billion available for future issuance .there were no other medium-term senior notes outstanding on either of the two subsidiary banks as of december 31 , 2008 .15 .commitments , contingent liabilities and guarantees the bancorp , in the normal course of business , enters into financial instruments and various agreements to meet the financing needs of its customers .the bancorp also enters into certain transactions and agreements to manage its interest rate and prepayment risks , provide funding , equipment and locations for its operations and invest in its communities .these instruments and agreements involve , to varying degrees , elements of credit risk , counterparty risk and market risk in excess of the amounts recognized in the bancorp 2019s consolidated balance sheets .creditworthiness for all instruments and agreements is evaluated on a case-by-case basis in accordance with the bancorp 2019s credit policies .the bancorp 2019s significant commitments , contingent liabilities and guarantees in excess of the amounts recognized in the consolidated balance sheets are summarized as follows : commitments the bancorp has certain commitments to make future payments under contracts .a summary of significant commitments at december 31: .
[['( $ in millions )', '2008', '2007'], ['commitments to extend credit', '$ 49470', '49788'], ['letters of credit ( including standby letters of credit )', '8951', '8522'], ['forward contracts to sell mortgage loans', '3235', '1511'], ['noncancelable lease obligations', '937', '734'], ['purchase obligations', '81', '52'], ['capital expenditures', '68', '94']]
commitments to extend credit are agreements to lend , typically having fixed expiration dates or other termination clauses that may require payment of a fee .since many of the commitments to extend credit may expire without being drawn upon , the total commitment amounts do not necessarily represent future cash flow requirements .the bancorp is exposed to credit risk in the event of nonperformance for the amount of the contract .fixed-rate commitments are also subject to market risk resulting from fluctuations in interest rates and the bancorp 2019s exposure is limited to the replacement value of those commitments .as of december 31 , 2008 and 2007 , the bancorp had a reserve for unfunded commitments totaling $ 195 million and $ 95 million , respectively , included in other liabilities in the consolidated balance sheets .standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party .at december 31 , 2008 , approximately $ 3.3 billion of letters of credit expire within one year ( including $ 57 million issued on behalf of commercial customers to facilitate trade payments in dollars and foreign currencies ) , $ 5.3 billion expire between one to five years and $ 0.4 billion expire thereafter .standby letters of credit are considered guarantees in accordance with fasb interpretation no .45 , 201cguarantor 2019s accounting and disclosure requirements for guarantees , including indirect guarantees of indebtedness of others 201d ( fin 45 ) .at december 31 , 2008 , the reserve related to these standby letters of credit was $ 3 million .approximately 66% ( 66 % ) and 70% ( 70 % ) of the total standby letters of credit were secured as of december 31 , 2008 and 2007 , respectively .in the event of nonperformance by the customers , the bancorp has rights to the underlying collateral , which can include commercial real estate , physical plant and property , inventory , receivables , cash and marketable securities .the bancorp monitors the credit risk associated with the standby letters of credit using the same dual risk rating system utilized for .
|
what is the percentage change in the balance of noncancelable lease obligations from 2007 to 2008?
|
734
|
{
"answer": "734",
"decimal": 734,
"type": "float"
}
| |
notes to consolidated financial statements note 10 .securitization activities the firm securitizes residential and commercial mortgages , corporate bonds , loans and other types of financial assets by selling these assets to securitization vehicles ( e.g. , trusts , corporate entities and limited liability companies ) or through a resecuritization .the firm acts as underwriter of the beneficial interests that are sold to investors .the firm 2019s residential mortgage securitizations are substantially all in connection with government agency securitizations .beneficial interests issued by securitization entities are debt or equity securities that give the investors rights to receive all or portions of specified cash inflows to a securitization vehicle and include senior and subordinated interests in principal , interest and/or other cash inflows .the proceeds from the sale of beneficial interests are used to pay the transferor for the financial assets sold to the securitization vehicle or to purchase securities which serve as collateral .the firm accounts for a securitization as a sale when it has relinquished control over the transferred assets .prior to securitization , the firm accounts for assets pending transfer at fair value and therefore does not typically recognize significant gains or losses upon the transfer of assets .net revenues from underwriting activities are recognized in connection with the sales of the underlying beneficial interests to investors .for transfers of assets that are not accounted for as sales , the assets remain in 201cfinancial instruments owned , at fair value 201d and the transfer is accounted for as a collateralized financing , with the related interest expense recognized over the life of the transaction .see notes 9 and 23 for further information about collateralized financings and interest expense , respectively .the firm generally receives cash in exchange for the transferred assets but may also have continuing involvement with transferred assets , including ownership of beneficial interests in securitized financial assets , primarily in the form of senior or subordinated securities .the firm may also purchase senior or subordinated securities issued by securitization vehicles ( which are typically vies ) in connection with secondary market-making activities .the primary risks included in beneficial interests and other interests from the firm 2019s continuing involvement with securitization vehicles are the performance of the underlying collateral , the position of the firm 2019s investment in the capital structure of the securitization vehicle and the market yield for the security .these interests are accounted for at fair value and are included in 201cfinancial instruments owned , at fair value 201d and are generally classified in level 2 of the fair value hierarchy .see notes 5 through 8 for further information about fair value measurements .the table below presents the amount of financial assets securitized and the cash flows received on retained interests in securitization entities in which the firm had continuing involvement. .
[['in millions', 'year ended december 2013', 'year ended december 2012', 'year ended december 2011'], ['residential mortgages', '$ 29772', '$ 33755', '$ 40131'], ['commercial mortgages', '6086', '300', '2014'], ['other financial assets', '2014', '2014', '269'], ['total', '$ 35858', '$ 34055', '$ 40400'], ['cash flows on retained interests', '$ 249', '$ 389', '$ 569']]
goldman sachs 2013 annual report 165 .
|
what percent of financial assets securitized in 2012 were residential mortgages?
|
99%
|
{
"answer": "99%",
"decimal": 0.99,
"type": "percentage"
}
| |
apple inc .| 2018 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 29 , 2018 .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 27 , 2013 .note that historic stock price performance is not necessarily indicative of future stock price performance .* $ 100 invested on september 27 , 2013 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 2018 standard & poor 2019s , a division of s&p global .all rights reserved .copyright a9 2018 s&p dow jones indices llc , a division of s&p global .all rights reserved .september september september september september september .
[['', 'september2013', 'september2014', 'september2015', 'september2016', 'september2017', 'september2018'], ['apple inc .', '$ 100', '$ 149', '$ 173', '$ 174', '$ 242', '$ 359'], ['s&p 500 index', '$ 100', '$ 120', '$ 119', '$ 137', '$ 163', '$ 192'], ['s&p information technology index', '$ 100', '$ 129', '$ 132', '$ 162', '$ 209', '$ 275'], ['dow jones u.s . technology supersector index', '$ 100', '$ 130', '$ 130', '$ 159', '$ 203', '$ 266']]
.
|
what is the difference in percentage cumulative total return between apple inc . and the s&p 500 index for the five year period ended september 2018?
|
167%
|
{
"answer": "167%",
"decimal": 1.67,
"type": "percentage"
}
| |
the goldman sachs group , inc .and subsidiaries management 2019s discussion and analysis investing & lending investing & lending includes our investing activities and the origination of loans , including our relationship lending activities , to provide financing to clients .these investments and loans are typically longer-term in nature .we make investments , some of which are consolidated , including through our merchant banking business and our special situations group , in debt securities and loans , public and private equity securities , infrastructure and real estate entities .some of these investments are made indirectly through funds that we manage .we also make unsecured and secured loans to retail clients through our digital platforms , marcus and goldman sachs private bank select ( gs select ) , respectively .the table below presents the operating results of our investing & lending segment. .
[['$ in millions', 'year ended december 2017', 'year ended december 2016', 'year ended december 2015'], ['equity securities', '$ 4578', '$ 2573', '$ 3781'], ['debt securities and loans', '2003', '1507', '1655'], ['total net revenues', '6581', '4080', '5436'], ['operating expenses', '2796', '2386', '2402'], ['pre-taxearnings', '$ 3785', '$ 1694', '$ 3034']]
operating environment .during 2017 , generally higher global equity prices and tighter credit spreads contributed to a favorable environment for our equity and debt investments .results also reflected net gains from company- specific events , including sales , and corporate performance .this environment contrasts with 2016 , where , in the first quarter of 2016 , market conditions were difficult and corporate performance , particularly in the energy sector , was impacted by a challenging macroeconomic environment .however , market conditions improved during the rest of 2016 as macroeconomic concerns moderated .if macroeconomic concerns negatively affect company-specific events or corporate performance , or if global equity markets decline or credit spreads widen , net revenues in investing & lending would likely be negatively impacted .2017 versus 2016 .net revenues in investing & lending were $ 6.58 billion for 2017 , 61% ( 61 % ) higher than 2016 .net revenues in equity securities were $ 4.58 billion , including $ 3.82 billion of net gains from private equities and $ 762 million in net gains from public equities .net revenues in equity securities were 78% ( 78 % ) higher than 2016 , primarily reflecting a significant increase in net gains from private equities , which were positively impacted by company- specific events and corporate performance .in addition , net gains from public equities were significantly higher , as global equity prices increased during the year .of the $ 4.58 billion of net revenues in equity securities , approximately 60% ( 60 % ) was driven by net gains from company-specific events , such as sales , and public equities .net revenues in debt securities and loans were $ 2.00 billion , 33% ( 33 % ) higher than 2016 , reflecting significantly higher net interest income ( 2017 included approximately $ 1.80 billion of net interest income ) .net revenues in debt securities and loans for 2017 also included an impairment of approximately $ 130 million on a secured operating expenses were $ 2.80 billion for 2017 , 17% ( 17 % ) higher than 2016 , due to increased compensation and benefits expenses , reflecting higher net revenues , increased expenses related to consolidated investments , and increased expenses related to marcus .pre-tax earnings were $ 3.79 billion in 2017 compared with $ 1.69 billion in 2016 .2016 versus 2015 .net revenues in investing & lending were $ 4.08 billion for 2016 , 25% ( 25 % ) lower than 2015 .net revenues in equity securities were $ 2.57 billion , including $ 2.17 billion of net gains from private equities and $ 402 million in net gains from public equities .net revenues in equity securities were 32% ( 32 % ) lower than 2015 , primarily reflecting a significant decrease in net gains from private equities , driven by company-specific events and corporate performance .net revenues in debt securities and loans were $ 1.51 billion , 9% ( 9 % ) lower than 2015 , reflecting significantly lower net revenues related to relationship lending activities , due to the impact of changes in credit spreads on economic hedges .losses related to these hedges were $ 596 million in 2016 , compared with gains of $ 329 million in 2015 .this decrease was partially offset by higher net gains from investments in debt instruments and higher net interest income .see note 9 to the consolidated financial statements for further information about economic hedges related to our relationship lending activities .operating expenses were $ 2.39 billion for 2016 , essentially unchanged compared with 2015 .pre-tax earnings were $ 1.69 billion in 2016 , 44% ( 44 % ) lower than 2015 .goldman sachs 2017 form 10-k 61 .
|
what percentage of total net revenue in the investing & lending segment during 2017 was comprised of equity securities?
|
70%
|
{
"answer": "70%",
"decimal": 0.7,
"type": "percentage"
}
| |
the agencies consider many factors in determining the final rating of an insurance company .one consideration is the relative level of statutory surplus necessary to support the business written .statutory surplus represents the capital of the insurance company reported in accordance with accounting practices prescribed by the applicable state insurance department .see part i , item 1a .risk factors 2014 201cdowngrades in our financial strength or credit ratings , which may make our products less attractive , could increase our cost of capital and inhibit our ability to refinance our debt , which would have a material adverse effect on our business , financial condition , results of operations and liquidity . 201d statutory surplus the table below sets forth statutory surplus for the company 2019s insurance companies as of december 31 , 2014 and 2013: .
[['', '2014', '2013'], ['u.s . life insurance subsidiaries includes domestic captive insurance subsidiaries in 2013', '$ 7157', '$ 6639'], ['property and casualty insurance subsidiaries', '8069', '8022'], ['total', '$ 15226', '$ 14661']]
statutory capital and surplus for the u.s .life insurance subsidiaries , including domestic captive insurance subsidiaries in 2013 , increased by $ 518 , primarily due to variable annuity surplus impacts of $ 788 , net income from non-variable annuity business of $ 187 , increases in unrealized gains from other invested assets carrying values of $ 138 , partially offset by returns of capital of $ 500 , and changes in reserves on account of change in valuation basis of $ 100 .effective april 30 , 2014 the last domestic captive ceased operations .statutory capital and surplus for the property and casualty insurance increased by $ 47 , primarily due to statutory net income of $ 1.1 billion , and unrealized gains on investments of $ 1.4 billion , largely offset by dividends to the hfsg holding company of $ 2.5 billion .the company also held regulatory capital and surplus for its former operations in japan until the sale of those operations on june 30 , 2014 .under the accounting practices and procedures governed by japanese regulatory authorities , the company 2019s statutory capital and surplus was $ 1.2 billion as of december 31 , 2013. .
|
what was the average statutory surplus for the company 2019s insurance companies for u.s . life insurance subsidiaries including domestic captive insurance subsidiaries from 2012 to 2013
|
6898
|
{
"answer": "6898",
"decimal": 6898,
"type": "float"
}
| |
page 30 of 94 are included in capital spending amounts .another example is the company 2019s decision in 2007 to contribute an additional $ 44.5 million ( $ 27.3 million ) to its pension plans as part of its overall debt reduction plan .based on this , our consolidated free cash flow is summarized as follows: .
[['( $ in millions )', '2007', '2006', '2005'], ['cash flows from operating activities', '$ 673.0', '$ 401.4', '$ 558.8'], ['incremental pension funding net of tax', '27.3', '2013', '2013'], ['capital spending', '-308.5 ( 308.5 )', '-279.6 ( 279.6 )', '-291.7 ( 291.7 )'], ['proceeds for replacement of fire-damaged assets', '48.6', '61.3', '2013'], ['free cash flow', '$ 440.4', '$ 183.1', '$ 267.1']]
based on information currently available , we estimate cash flows from operating activities for 2008 to be approximately $ 650 million , capital spending to be approximately $ 350 million and free cash flow to be in the $ 300 million range .capital spending of $ 259.9 million ( net of $ 48.6 million in insurance recoveries ) in 2007 was below depreciation and amortization expense of $ 281 million .we continue to invest capital in our best performing operations , including projects to increase custom can capabilities , improve beverage can and end making productivity and add more beverage can capacity in europe , as well as expenditures in the aerospace and technologies segment .of the $ 350 million of planned capital spending for 2008 , approximately $ 180 million will be spent on top-line sales growth projects .debt facilities and refinancing interest-bearing debt at december 31 , 2007 , decreased $ 93.1 million to $ 2358.6 million from $ 2451.7 million at december 31 , 2006 .the 2007 debt decrease from 2006 was primarily attributed to debt payments offset by higher foreign exchange rates .at december 31 , 2007 , $ 705 million was available under the company 2019s multi-currency revolving credit facilities .the company also had $ 345 million of short-term uncommitted credit facilities available at the end of the year , of which $ 49.7 million was outstanding .on october 13 , 2005 , ball refinanced its senior secured credit facilities and during the third and fourth quarters of 2005 , ball redeemed its 7.75% ( 7.75 % ) senior notes due august 2006 primarily through the drawdown of funds under the new credit facilities .the refinancing and redemption resulted in a pretax debt refinancing charge of $ 19.3 million ( $ 12.3 million after tax ) to reflect the call premium associated with the senior notes and the write off of unamortized debt issuance costs .the company has a receivables sales agreement that provides for the ongoing , revolving sale of a designated pool of trade accounts receivable of ball 2019s north american packaging operations , up to $ 250 million .the agreement qualifies as off-balance sheet financing under the provisions of statement of financial accounting standards ( sfas ) no .140 , as amended by sfas no .156 .net funds received from the sale of the accounts receivable totaled $ 170 million and $ 201.3 million at december 31 , 2007 and 2006 , respectively , and are reflected as a reduction of accounts receivable in the consolidated balance sheets .the company was not in default of any loan agreement at december 31 , 2007 , and has met all payment obligations .the u.s .note agreements , bank credit agreement and industrial development revenue bond agreements contain certain restrictions relating to dividends , investments , financial ratios , guarantees and the incurrence of additional indebtedness .additional details about the company 2019s receivables sales agreement and debt are available in notes 7 and 13 , respectively , accompanying the consolidated financial statements within item 8 of this report. .
|
what is the percentage change in capital spending from 2006 to 2007?
|
10.3%
|
{
"answer": "10.3%",
"decimal": 0.10300000000000001,
"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. .
|
assuming the same rate of growth as in 2018 , what would industrial segment revenues grow to in 2019?
|
6179
|
{
"answer": "6179",
"decimal": 6179,
"type": "float"
}
| |
tower cash flow , adjusted consolidated cash flow and non-tower cash flow are considered non-gaap financial measures .we are required to provide these financial metrics by the indentures for our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes , and we have included them below because we consider the indentures for these notes to be material agreements , the covenants related to tower cash flow , adjusted consolidated cash flow and non-tower cash flow to be material terms of the indentures , and information about compliance with such covenants to be material to an investor 2019s understanding of our financial results and the impact of those results on our liquidity .the following table presents tower cash flow , adjusted consolidated cash flow and non-tower cash flow for the company and its restricted subsidiaries , as defined in the indentures for the applicable notes ( in thousands ) : .
[['tower cash flow for the three months ended december 31 2008', '$ 188449'], ['consolidated cash flow for the twelve months ended december 31 2008', '726954'], ['less : tower cash flow for the twelve months ended december 31 2008', '-741565 ( 741565 )'], ['plus : four times tower cash flow for the three months ended december 31 2008', '753798'], ['adjusted consolidated cash flow for the twelve months ended december 31 2008', '739187'], ['non-tower cash flow for the twelve months ended december 31 2008', '$ -14611 ( 14611 )']]
.
|
what was the average tower cash flow for the three months ended december 31 2008
|
62816
|
{
"answer": "62816",
"decimal": 62816,
"type": "float"
}
| |
note 8 2013 debt our long-term debt consisted of the following ( in millions ) : .
[['', '2012', '2011'], ['notes with rates from 2.13% ( 2.13 % ) to 6.15% ( 6.15 % ) due 2016 to 2042', '$ 5642', '$ 5308'], ['notes with rates from 7.00% ( 7.00 % ) to 7.75% ( 7.75 % ) due 2013 to 2036', '1080', '1239'], ['other debt', '478', '19'], ['total long-term debt', '7200', '6966'], ['less : unamortized discounts', '-892 ( 892 )', '-506 ( 506 )'], ['total long-term debt net of unamortized discounts', '6308', '6460'], ['less : current maturities of long-term debt', '-150 ( 150 )', '2014'], ['total long-term debt net', '$ 6158', '$ 6460']]
in december 2012 , we issued notes totaling $ 1.3 billion with a fixed interest rate of 4.07% ( 4.07 % ) maturing in december 2042 ( the new notes ) in exchange for outstanding notes totaling $ 1.2 billion with interest rates ranging from 5.50% ( 5.50 % ) to 8.50% ( 8.50 % ) maturing in 2023 to 2040 ( the old notes ) .in connection with the exchange , we paid a premium of $ 393 million , of which $ 225 million was paid in cash and $ 168 million was in the form of new notes .this premium , in addition to $ 194 million in remaining unamortized discounts related to the old notes , will be amortized as additional interest expense over the term of the new notes using the effective interest method .we may , at our option , redeem some or all of the new notes at any time by paying the principal amount of notes being redeemed plus a make-whole premium and accrued and unpaid interest .interest on the new notes is payable on june 15 and december 15 of each year , beginning on june 15 , 2013 .the new notes are unsecured senior obligations and rank equally in right of payment with all of our existing and future unsecured and unsubordinated indebtedness .on september 9 , 2011 , we issued $ 2.0 billion of long-term notes in a registered public offering consisting of $ 500 million maturing in 2016 with a fixed interest rate of 2.13% ( 2.13 % ) , $ 900 million maturing in 2021 with a fixed interest rate of 3.35% ( 3.35 % ) , and $ 600 million maturing in 2041 with a fixed interest rate of 4.85% ( 4.85 % ) .we may , at our option , redeem some or all of the notes at any time by paying the principal amount of notes being redeemed plus a make-whole premium and accrued and unpaid interest .interest on the notes is payable on march 15 and september 15 of each year , beginning on march 15 , 2012 .in october 2011 , we used a portion of the proceeds to redeem all of our $ 500 million long-term notes maturing in 2013 .in 2011 , we repurchased $ 84 million of our long-term notes through open-market purchases .we paid premiums of $ 48 million in connection with the early extinguishments of debt , which were recognized in other non-operating income ( expense ) , net .in august 2011 , we entered into a $ 1.5 billion revolving credit facility with a group of banks and terminated our existing $ 1.5 billion revolving credit facility that was to expire in june 2012 .the credit facility expires august 2016 , and we may request and the banks may grant , at their discretion , an increase to the credit facility by an additional amount up to $ 500 million .there were no borrowings outstanding under either facility through december 31 , 2012 .borrowings under the credit facility would be unsecured and bear interest at rates based , at our option , on a eurodollar rate or a base rate , as defined in the credit facility .each bank 2019s obligation to make loans under the credit facility is subject to , among other things , our compliance with various representations , warranties and covenants , including covenants limiting our ability and certain of our subsidiaries 2019 ability to encumber assets and a covenant not to exceed a maximum leverage ratio , as defined in the credit facility .the leverage ratio covenant excludes the adjustments recognized in stockholders 2019 equity related to postretirement benefit plans .as of december 31 , 2012 , we were in compliance with all covenants contained in the credit facility , as well as in our debt agreements .we have agreements in place with banking institutions to provide for the issuance of commercial paper .there were no commercial paper borrowings outstanding during 2012 or 2011 .if we were to issue commercial paper , the borrowings would be supported by the credit facility .during the next five years , we have scheduled long-term debt maturities of $ 150 million due in 2013 and $ 952 million due in 2016 .interest payments were $ 378 million in 2012 , $ 326 million in 2011 , and $ 337 million in 2010. .
|
what is the percentage change in interest payments from 2011 to 2012?
|
16.0%
|
{
"answer": "16.0%",
"decimal": 0.16,
"type": "percentage"
}
| |
zimmer holdings , inc .2013 form 10-k annual report notes to consolidated financial statements ( continued ) we have four tranches of senior notes outstanding : $ 250 million aggregate principal amount of 1.4 percent notes due november 30 , 2014 , $ 500 million aggregate principal amount of 4.625 percent notes due november 30 , 2019 , $ 300 million aggregate principal amount of 3.375 percent notes due november 30 , 2021 and $ 500 million aggregate principal amount of 5.75 percent notes due november 30 , 2039 .interest on each series is payable on may 30 and november 30 of each year until maturity .the estimated fair value of our senior notes as of december 31 , 2013 , based on quoted prices for the specific securities from transactions in over-the-counter markets ( level 2 ) , was $ 1649.5 million .we may redeem the senior notes at our election in whole or in part at any time prior to maturity at a redemption price equal to the greater of 1 ) 100 percent of the principal amount of the notes being redeemed ; or 2 ) the sum of the present values of the remaining scheduled payments of principal and interest ( not including any portion of such payments of interest accrued as of the date of redemption ) , discounted to the date of redemption on a semi-annual basis at the treasury rate ( as defined in the debt agreement ) , plus 15 basis points in the case of the 2014 notes , 20 basis points in the case of the 2019 notes and 2021 notes , and 25 basis points in the case of the 2039 notes .we would also pay the accrued and unpaid interest on the senior notes to the redemption date .we have entered into interest rate swap agreements which we designated as fair value hedges of underlying fixed- rate obligations on our senior notes due 2019 and 2021 .see note 13 for additional information regarding the interest rate swap agreements .before our senior notes due november 30 , 2014 become payable , we intend to issue new senior notes in order to pay the $ 250 million owed .if we are not able to issue new senior notes , we intend to borrow against our senior credit facility to pay these notes .since we have the ability and intent to refinance these senior notes on a long-term basis with new notes or through our senior credit facility , we have classified these senior notes as long-term debt as of december 31 , 2013 .we also have available uncommitted credit facilities totaling $ 50.7 million .at december 31 , 2013 , the weighted average interest rate for our long-term borrowings was 3.3 percent .at december 31 , 2012 , the weighted average interest rate for short-term and long-term borrowings was 1.1 percent and 3.5 percent , respectively .we paid $ 68.1 million , $ 67.8 million and $ 55.0 million in interest during 2013 , 2012 and 2011 , respectively .12 .accumulated other comprehensive income oci refers to certain gains and losses that under gaap are included in comprehensive income but are excluded from net earnings as these amounts are initially recorded as an adjustment to stockholders 2019 equity .amounts in oci may be reclassified to net earnings upon the occurrence of certain events .our oci is comprised of foreign currency translation adjustments , unrealized gains and losses on cash flow hedges , unrealized gains and losses on available-for-sale securities , and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions on our defined benefit plans .foreign currency translation adjustments are reclassified to net earnings upon sale or upon a complete or substantially complete liquidation of an investment in a foreign entity .unrealized gains and losses on cash flow hedges are reclassified to net earnings when the hedged item affects net earnings .unrealized gains and losses on available-for-sale securities are reclassified to net earnings if we sell the security before maturity or if the unrealized loss is considered to be other-than-temporary .we typically hold our available-for-sale securities until maturity and are able to realize their amortized cost and therefore we do not have reclassification adjustments to net earnings on these securities .amounts related to defined benefit plans that are in oci are reclassified over the service periods of employees in the plan .the reclassification amounts are allocated to all employees in the plans and therefore the reclassified amounts may become part of inventory to the extent they are considered direct labor costs .see note 14 for more information on our defined benefit plans .the following table shows the changes in the components of oci , net of tax ( in millions ) : foreign currency translation hedges unrealized gains on securities defined benefit .
[['', 'foreign currency translation', 'cash flow hedges', 'unrealizedgains onsecurities', 'defined benefit plan items'], ['balance december 31 2012', '$ 445.5', '$ 4.1', '$ 0.4', '$ -106.1 ( 106.1 )'], ['oci before reclassifications', '-44.4 ( 44.4 )', '33.4', '0.1', '30.6'], ['reclassifications', '2013', '-4.4 ( 4.4 )', '2013', '7.9'], ['balance december 31 2013', '$ 401.1', '$ 33.1', '$ 0.5', '$ -67.6 ( 67.6 )']]
.
|
what was the change in interest paid between 2012 and 2013 in millions?
|
0.3
|
{
"answer": "0.3",
"decimal": 0.3,
"type": "float"
}
| |
the discount rate used to measure pension obligations is determined by comparing the expected future benefits that will be paid under the plan with yields available on high quality corporate bonds of similar duration .the impact on pension expense of a .5% ( .5 % ) decrease in discount rate in the current environment is an increase of $ 18 million per year .this sensitivity depends on the economic environment and amount of unrecognized actuarial gains or losses on the measurement date .the expected long-term return on assets assumption also has a significant effect on pension expense .the expected return on plan assets is a long-term assumption established by considering historical and anticipated returns of the asset classes invested in by the pension plan and the asset allocation policy currently in place .for purposes of setting and reviewing this assumption , 201clong term 201d refers to the period over which the plan 2019s projected benefit obligations will be disbursed .we review this assumption at each measurement date and adjust it if warranted .our selection process references certain historical data and the current environment , but primarily utilizes qualitative judgment regarding future return expectations .to evaluate the continued reasonableness of our assumption , we examine a variety of viewpoints and data .various studies have shown that portfolios comprised primarily of u.s .equity securities have historically returned approximately 9% ( 9 % ) 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 6.50% ( 6.50 % ) and 7.25% ( 7.25 % ) 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 2014 , 2013 and 2012 were +6.50% ( +6.50 % ) , +15.48% ( +15.48 % ) , and +15.29% ( +15.29 % ) , 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 2014 was 7.00% ( 7.00 % ) , down from 7.50% ( 7.50 % ) for 2013 .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 6.75% ( 6.75 % ) 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 can cause expense in subsequent years to increase or decrease by up to $ 9 million as the impact is amortized into results of operations .we currently estimate pretax pension expense of $ 9 million in 2015 compared with pretax income of $ 7 million in 2014 .this year-over-year expected increase in expense reflects the effects of the lower expected return on asset assumption , improved mortality , and the lower discount rate required to be used in 2015 .these factors will be partially offset by the favorable impact of the increase in plan assets at december 31 , 2014 and the assumed return on a $ 200 million voluntary contribution to the plan made in february 2015 .the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2015 estimated expense as a baseline .table 26 : pension expense 2013 sensitivity analysis change in assumption ( a ) estimated increase/ ( decrease ) to 2015 pension expense ( in millions ) .
[['change in assumption ( a )', 'estimatedincrease/ ( decrease ) to 2015pensionexpense ( in millions )'], ['.5% ( .5 % ) decrease in discount rate', '$ 18'], ['.5% ( .5 % ) decrease in expected long-term return on assets', '$ 22'], ['.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 .notwithstanding the voluntary contribution made in february 2015 noted above , we do not expect to be required to make any contributions to the plan during 2015 .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 13 employee benefit plans in the notes to consolidated financial statements in item 8 of this report .66 the pnc financial services group , inc .2013 form 10-k .
|
what's the percentage increase from the 2014 estimated pretax pension expense with the expense for 2015?
|
28.57%
|
{
"answer": "28.57%",
"decimal": 0.2857,
"type": "percentage"
}
| |
put options we currently have outstanding put option agreements with other shareholders of our air products san fu company , ltd .and indura s.a .subsidiaries .the put options give the shareholders the right to sell stock in the subsidiaries based on pricing terms in the agreements .refer to note 17 , commitments and contingencies , to the consolidated financial statements for additional information .due to the uncertainty of whether these options would be exercised and the related timing , we excluded the potential payments from the contractual obligations table .pension benefits we sponsor defined benefit pension plans that cover a substantial portion of our worldwide employees .the principal defined benefit pension plans 2014the u.s .salaried pension plan and the u.k .pension plan 2014were closed to new participants in 2005 and were replaced with defined contribution plans .over the long run , the shift to defined contribution plans is expected to reduce volatility of both plan expense and contributions .for 2013 , the fair market value of pension plan assets for our defined benefit plans as of the measurement date increased to $ 3800.8 from $ 3239.1 in 2012 .the projected benefit obligation for these plans as of the measurement date was $ 4394.0 and $ 4486.5 in 2013 and 2012 , respectively .refer to note 16 , retirement benefits , to the consolidated financial statements for comprehensive and detailed disclosures on our postretirement benefits .pension expense .
[['', '2013', '2012', '2011'], ['pension expense', '$ 169.7', '$ 120.4', '$ 114.1'], ['special terminations settlements and curtailments ( included above )', '19.8', '8.2', '1.3'], ['weighted average discount rate', '4.0% ( 4.0 % )', '5.0% ( 5.0 % )', '5.0% ( 5.0 % )'], ['weighted average expected rate of return on plan assets', '7.7% ( 7.7 % )', '8.0% ( 8.0 % )', '8.0% ( 8.0 % )'], ['weighted average expected rate of compensation increase', '3.8% ( 3.8 % )', '3.9% ( 3.9 % )', '4.0% ( 4.0 % )']]
2013 vs .2012 the increase in pension expense , excluding special items , was primarily attributable to the 100 bp decrease in weighted average discount rate , resulting in higher amortization of actuarial losses .the increase was partially offset by a higher expected return on plan assets and contributions in 2013 .special items of $ 19.8 primarily included $ 12.4 for pension settlement losses and $ 6.9 for special termination benefits relating to the 2013 business restructuring and cost reduction plan .2012 vs .2011 pension expense in 2012 , excluding special items , was comparable to 2011 expense as a result of no change in the weighted average discount rate from year to year .2014 outlook pension expense is estimated to be approximately $ 140 to $ 145 , excluding special items , in 2014 , a decrease of $ 5 to $ 10 from 2013 , resulting primarily from an increase in discount rates , partially offset by unfavorable impacts associated with changes in mortality and inflation assumptions .pension settlement losses of $ 10 to $ 25 are expected , dependent on the timing of retirements .in 2014 , pension expense will include approximately $ 118 for amortization of actuarial losses compared to $ 143 in 2013 .net actuarial gains of $ 370.4 were recognized in 2013 , resulting primarily from an approximately 65 bp increase in the weighted average discount rate as well as actual asset returns above expected returns .actuarial gains/losses are amortized into pension expense over prospective periods to the extent they are not offset by future gains or losses .future changes in the discount rate and actual returns on plan assets , different from expected returns , would impact the actuarial gains/losses and resulting amortization in years beyond 2014 .pension funding pension funding includes both contributions to funded plans and benefit payments for unfunded plans , which are primarily non-qualified plans .with respect to funded plans , our funding policy is that contributions , combined with appreciation and earnings , will be sufficient to pay benefits without creating unnecessary surpluses .in addition , we make contributions to satisfy all legal funding requirements while managing our capacity to benefit from tax deductions attributable to plan contributions .with the assistance of third party actuaries , we analyze the liabilities and demographics of each plan , which help guide the level of contributions .during 2013 and 2012 , our cash contributions to funded plans and benefit payments for unfunded plans were $ 300.8 and $ 76.4 , respectively .contributions for 2013 include voluntary contributions for u.s .plans of $ 220.0. .
|
considering the years 2012-2013 , what is the increase observed in the special terminations settlements and curtailments?
|
141.46%
|
{
"answer": "141.46%",
"decimal": 1.4146,
"type": "percentage"
}
|
it is the 2013 value divided by the 2012's , then turned into a percentage and subtracted 100% .
|
u.s .equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .for u.s .equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker or investment manager .these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager .commingled equity funds categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .for commingled equity funds not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker or investment manager .these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor .fixed income investments categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g. , interest rates and yield curves observable at commonly quoted intervals and credit spreads ) , bids provided by brokers or dealers or quoted prices of securities with similar characteristics .fixed income investments are categorized at level 3 when valuations using observable inputs are unavailable .the trustee obtains pricing based on indicative quotes or bid evaluations from vendors , brokers or the investment manager .commodities are traded on an active commodity exchange and are valued at their closing prices on the last trading day of the certain commingled equity funds , consisting of equity mutual funds , are valued using the nav.aa thenavaa valuations are based on the underlying investments and typically redeemable within 90 days .private equity funds consist of partnership and co-investment funds .the navaa is based on valuation models of the underlying securities , which includes unobservable inputs that cannot be corroborated using verifiable observable market data .these funds typically have redemption periods between eight and 12 years .real estate funds consist of partnerships , most of which are closed-end funds , for which the navaa is based on valuationmodels and periodic appraisals .these funds typically have redemption periods between eight and 10 years .hedge funds consist of direct hedge funds forwhich thenavaa is generally based on the valuation of the underlying investments .redemptions in hedge funds are based on the specific terms of each fund , and generally range from a minimum of one month to several months .contributions and expected benefit payments the funding of our qualified defined benefit pension plans is determined in accordance with erisa , as amended by the ppa , and in a manner consistent with cas and internal revenue code rules .there were no material contributions to our qualified defined benefit pension plans during 2017 .we will make contributions of $ 5.0 billion to our qualified defined benefit pension plans in 2018 , including required and discretionary contributions.as a result of these contributions , we do not expect any material qualified defined benefit cash funding will be required until 2021.we plan to fund these contributions using a mix of cash on hand and commercial paper .while we do not anticipate a need to do so , our capital structure and resources would allow us to issue new debt if circumstances change .the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2017 ( in millions ) : .
[['', '2018', '2019', '2020', '2021', '2022', '2023 2013 2027'], ['qualified defined benefit pension plans', '$ 2450', '$ 2480', '$ 2560', '$ 2630', '$ 2700', '$ 14200'], ['retiree medical and life insurance plans', '180', '180', '180', '180', '180', '820']]
defined contribution plans wemaintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees .under the provisions of our 401 ( k ) plans , wematchmost employees 2019 eligible contributions at rates specified in the plan documents .our contributions were $ 613 million in 2017 , $ 617 million in 2016 and $ 393 million in 2015 , the majority of which were funded using our common stock .our defined contribution plans held approximately 35.5 million and 36.9 million shares of our common stock as of december 31 , 2017 and 2016. .
|
what was the percentage change in the employee total matching contributions from 2015 to 2016
|
57%
|
{
"answer": "57%",
"decimal": 0.57,
"type": "percentage"
}
| |
synopsys , inc .notes to consolidated financial statements 2014continued the aggregate purchase price consideration was approximately us$ 417.0 million .as of october 31 , 2012 , the total purchase consideration and the preliminary purchase price allocation were as follows: .
[['', '( in thousands )'], ['cash paid', '$ 373519'], ['fair value of shares to be acquired through a follow-on merger', '34054'], ['fair value of equity awards allocated to purchase consideration', '9383'], ['total purchase consideration', '$ 416956'], ['goodwill', '247482'], ['identifiable intangibles assets acquired', '108867'], ['cash and other assets acquired', '137222'], ['liabilities assumed', '-76615 ( 76615 )'], ['total purchase allocation', '$ 416956']]
goodwill of $ 247.5 million , which is generally not deductible for tax purposes , primarily resulted from the company 2019s expectation of sales growth and cost synergies from the integration of springsoft 2019s technology and operations with the company 2019s technology and operations .identifiable intangible assets , consisting primarily of technology , customer relationships , backlog and trademarks , were valued using the income method , and are being amortized over three to eight years .acquisition-related costs directly attributable to the business combination were $ 6.6 million for fiscal 2012 and were expensed as incurred in the consolidated statements of operations .these costs consisted primarily of employee separation costs and professional services .fair value of equity awards : pursuant to the merger agreement , the company assumed all the unvested outstanding stock options of springsoft upon the completion of the merger and the vested options were exchanged for cash in the merger .on october 1 , 2012 , the date of the completion of the tender offer , the fair value of the awards to be assumed and exchanged was $ 9.9 million , calculated using the black-scholes option pricing model .the black-scholes option-pricing model incorporates various subjective assumptions including expected volatility , expected term and risk-free interest rates .the expected volatility was estimated by a combination of implied and historical stock price volatility of the options .non-controlling interest : non-controlling interest represents the fair value of the 8.4% ( 8.4 % ) of outstanding springsoft shares that were not acquired during the tender offer process completed on october 1 , 2012 and the fair value of the option awards that were to be assumed or exchanged for cash upon the follow-on merger .the fair value of the non-controlling interest included as part of the aggregate purchase consideration was $ 42.8 million and is disclosed as a separate line in the october 31 , 2012 consolidated statements of stockholders 2019 equity .during the period between the completion of the tender offer and the end of the company 2019s fiscal year on october 31 , 2012 , the non-controlling interest was adjusted by $ 0.5 million to reflect the non-controlling interest 2019s share of the operating loss of springsoft in that period .as the amount is not significant , it has been included as part of other income ( expense ) , net , in the consolidated statements of operations. .
|
what percentage of total purchase allocation is identifiable intangibles assets acquired?
|
26%
|
{
"answer": "26%",
"decimal": 0.26,
"type": "percentage"
}
| |
able to reasonably estimate the timing of future cash flows beyond 12 months due to uncertainties in the timing of tax audit outcomes .the remaining amount of our unrecognized tax liability was classified in other liabilities .we report accrued interest and penalties related to unrecognized tax benefit liabilities in income tax expense .for fiscal 2017 , we recognized a net benefit of $ 5.6 million of tax-related net interest and penalties , and had $ 23.1 million of accrued interest and penalties as of may 28 , 2017 .for fiscal 2016 , we recognized a net benefit of $ 2.7 million of tax-related net interest and penalties , and had $ 32.1 million of accrued interest and penalties as of may 29 , 2016 .note 15 .leases , other commitments , and contingencies the company 2019s leases are generally for warehouse space and equipment .rent expense under all operating leases from continuing operations was $ 188.1 million in fiscal 2017 , $ 189.1 million in fiscal 2016 , and $ 193.5 million in fiscal 2015 .some operating leases require payment of property taxes , insurance , and maintenance costs in addition to the rent payments .contingent and escalation rent in excess of minimum rent payments and sublease income netted in rent expense were insignificant .noncancelable future lease commitments are : operating capital in millions leases leases .
[['in millions', 'operating leases', 'capital leases'], ['fiscal 2018', '$ 118.8', '$ 0.4'], ['fiscal 2019', '101.7', '0.4'], ['fiscal 2020', '80.7', '0.2'], ['fiscal 2021', '60.7', '0.1'], ['fiscal 2022', '49.7', '2014'], ['after fiscal 2022', '89.1', '0.1'], ['total noncancelable future lease commitments', '$ 500.7', '$ 1.2'], ['less : interest', '', '-0.1 ( 0.1 )'], ['present value of obligations under capital leases', '', '$ 1.1']]
depreciation on capital leases is recorded as deprecia- tion expense in our results of operations .as of may 28 , 2017 , we have issued guarantees and comfort letters of $ 504.7 million for the debt and other obligations of consolidated subsidiaries , and guarantees and comfort letters of $ 165.3 million for the debt and other obligations of non-consolidated affiliates , mainly cpw .in addition , off-balance sheet arrangements are generally limited to the future payments under non-cancelable operating leases , which totaled $ 500.7 million as of may 28 , 2017 .note 16 .business segment and geographic information we operate in the consumer foods industry .in the third quarter of fiscal 2017 , we announced a new global orga- nization structure to streamline our leadership , enhance global scale , and drive improved operational agility to maximize our growth capabilities .as a result of this global reorganization , beginning in the third quarter of fiscal 2017 , we reported results for our four operating segments as follows : north america retail , 65.3 percent of our fiscal 2017 consolidated net sales ; convenience stores & foodservice , 12.0 percent of our fiscal 2017 consolidated net sales ; europe & australia , 11.7 percent of our fiscal 2017 consolidated net sales ; and asia & latin america , 11.0 percent of our fiscal 2017 consoli- dated net sales .we have restated our net sales by seg- ment and segment operating profit amounts to reflect our new operating segments .these segment changes had no effect on previously reported consolidated net sales , operating profit , net earnings attributable to general mills , or earnings per share .our north america retail operating segment consists of our former u.s .retail operating units and our canada region .within our north america retail operating seg- ment , our former u.s .meals operating unit and u.s .baking operating unit have been combined into one operating unit : u.s .meals & baking .our convenience stores & foodservice operating segment is unchanged .our europe & australia operating segment consists of our former europe region .our asia & latin america operating segment consists of our former asia/pacific and latin america regions .under our new organization structure , our chief operating decision maker assesses performance and makes decisions about resources to be allocated to our segments at the north america retail , convenience stores & foodservice , europe & australia , and asia & latin america operating segment level .our north america retail operating segment reflects business with a wide variety of grocery stores , mass merchandisers , membership stores , natural food chains , drug , dollar and discount chains , and e-commerce gro- cery providers .our product categories in this business 84 general mills .
|
in 2016 what was the ratio of the net benefit recognized to the accrued interest and penalties
|
8.4%
|
{
"answer": "8.4%",
"decimal": 0.084,
"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 after 2009?
|
63%
|
{
"answer": "63%",
"decimal": 0.63,
"type": "percentage"
}
| |
item 1 .business cna financial corporation 2013 ( continued ) unpredictability in the law , insurance underwriting is expected to continue to be difficult in commercial lines , professional liability and other specialty coverages .the dodd-frank wall street reform and consumer protection act expands the federal presence in insurance oversight and may increase the regulatory requirements to which cna may be subject .the act 2019s requirements include streamlining the state-based regulation of reinsurance and nonadmitted insurance ( property or casualty insurance placed from insurers that are eligible to accept insurance , but are not licensed to write insurance in a particular state ) .the act also establishes a new federal insurance office within the u.s .department of the treasury with powers over all lines of insurance except health insurance , certain long term care insurance and crop insurance , to , among other things , monitor aspects of the insurance industry , identify issues in the regulation of insurers that could contribute to a systemic crisis in the insurance industry or the overall financial system , coordinate federal policy on international insurance matters and preempt state insurance measures under certain circumstances .the act calls for numerous studies and contemplates further regulation .the patient protection and affordable care act and the related amendments in the health care and education reconciliation act may increase cna 2019s operating costs and underwriting losses .this landmark legislation may lead to numerous changes in the health care industry that could create additional operating costs for cna , particularly with respect to workers 2019 compensation and long term care products .these costs might arise through the increased use of health care services by claimants or the increased complexities in health care bills that could require additional levels of review .in addition , due to the expected number of new participants in the health care system and the potential for additional malpractice claims , cna may experience increased underwriting risk in the lines of business that provide management and professional liability insurance to individuals and businesses engaged in the health care industry .the lines of business that provide professional liability insurance to attorneys , accountants and other professionals who advise clients regarding the health care reform legislation may also experience increased underwriting risk due to the complexity of the legislation .properties : the chicago location owned by ccc , a wholly owned subsidiary of cna , houses cna 2019s principal executive offices .cna owns or leases office space in various cities throughout the united states and in other countries .the following table sets forth certain information with respect to cna 2019s principal office locations : location ( square feet ) principal usage 333 s .wabash avenue 763322 principal executive offices of cna chicago , illinois 401 penn street 190677 property and casualty insurance offices reading , pennsylvania 2405 lucien way 116948 property and casualty insurance offices maitland , florida 40 wall street 114096 property and casualty insurance offices new york , new york 1100 ward avenue 104478 property and casualty insurance offices honolulu , hawaii 101 s .phillips avenue 83616 property and casualty insurance offices sioux falls , south dakota 600 n .pearl street 65752 property and casualty insurance offices dallas , texas 1249 s .river road 50366 property and casualty insurance offices cranbury , new jersey 4267 meridian parkway 46903 data center aurora , illinois 675 placentia avenue 46571 property and casualty insurance offices brea , california cna leases its office space described above except for the chicago , illinois building , the reading , pennsylvania building , and the aurora , illinois building , which are owned. .
[['location', 'size ( square feet )', 'principal usage'], ['333 s . wabash avenuechicago illinois', '763322', 'principal executive offices of cna'], ['401 penn streetreading pennsylvania', '190677', 'property and casualty insurance offices'], ['2405 lucien waymaitland florida', '116948', 'property and casualty insurance offices'], ['40 wall streetnew york new york', '114096', 'property and casualty insurance offices'], ['1100 ward avenuehonolulu hawaii', '104478', 'property and casualty insurance offices'], ['101 s . phillips avenuesioux falls south dakota', '83616', 'property and casualty insurance offices'], ['600 n . pearl streetdallas texas', '65752', 'property and casualty insurance offices'], ['1249 s . river roadcranbury new jersey', '50366', 'property and casualty insurance offices'], ['4267 meridian parkwayaurora illinois', '46903', 'data center'], ['675 placentia avenuebrea california', '46571', 'property and casualty insurance offices']]
item 1 .business cna financial corporation 2013 ( continued ) unpredictability in the law , insurance underwriting is expected to continue to be difficult in commercial lines , professional liability and other specialty coverages .the dodd-frank wall street reform and consumer protection act expands the federal presence in insurance oversight and may increase the regulatory requirements to which cna may be subject .the act 2019s requirements include streamlining the state-based regulation of reinsurance and nonadmitted insurance ( property or casualty insurance placed from insurers that are eligible to accept insurance , but are not licensed to write insurance in a particular state ) .the act also establishes a new federal insurance office within the u.s .department of the treasury with powers over all lines of insurance except health insurance , certain long term care insurance and crop insurance , to , among other things , monitor aspects of the insurance industry , identify issues in the regulation of insurers that could contribute to a systemic crisis in the insurance industry or the overall financial system , coordinate federal policy on international insurance matters and preempt state insurance measures under certain circumstances .the act calls for numerous studies and contemplates further regulation .the patient protection and affordable care act and the related amendments in the health care and education reconciliation act may increase cna 2019s operating costs and underwriting losses .this landmark legislation may lead to numerous changes in the health care industry that could create additional operating costs for cna , particularly with respect to workers 2019 compensation and long term care products .these costs might arise through the increased use of health care services by claimants or the increased complexities in health care bills that could require additional levels of review .in addition , due to the expected number of new participants in the health care system and the potential for additional malpractice claims , cna may experience increased underwriting risk in the lines of business that provide management and professional liability insurance to individuals and businesses engaged in the health care industry .the lines of business that provide professional liability insurance to attorneys , accountants and other professionals who advise clients regarding the health care reform legislation may also experience increased underwriting risk due to the complexity of the legislation .properties : the chicago location owned by ccc , a wholly owned subsidiary of cna , houses cna 2019s principal executive offices .cna owns or leases office space in various cities throughout the united states and in other countries .the following table sets forth certain information with respect to cna 2019s principal office locations : location ( square feet ) principal usage 333 s .wabash avenue 763322 principal executive offices of cna chicago , illinois 401 penn street 190677 property and casualty insurance offices reading , pennsylvania 2405 lucien way 116948 property and casualty insurance offices maitland , florida 40 wall street 114096 property and casualty insurance offices new york , new york 1100 ward avenue 104478 property and casualty insurance offices honolulu , hawaii 101 s .phillips avenue 83616 property and casualty insurance offices sioux falls , south dakota 600 n .pearl street 65752 property and casualty insurance offices dallas , texas 1249 s .river road 50366 property and casualty insurance offices cranbury , new jersey 4267 meridian parkway 46903 data center aurora , illinois 675 placentia avenue 46571 property and casualty insurance offices brea , california cna leases its office space described above except for the chicago , illinois building , the reading , pennsylvania building , and the aurora , illinois building , which are owned. .
|
what percent of the illinois properties relate to data centers?
|
5.6%
|
{
"answer": "5.6%",
"decimal": 0.055999999999999994,
"type": "percentage"
}
| |
notes to consolidated financial statements of annual compensation was made .for the years ended december 31 , 2009 , 2008 and , 2007 , we made matching contributions of approxi- mately $ 450000 , $ 503000 and $ 457000 , respectively .note 17 / commitments and contingencies we and our operating partnership are not presently involved in any mate- rial litigation nor , to our knowledge , is any material litigation threatened against us or our properties , other than routine litigation arising in the ordinary course of business .management believes the costs , if any , incurred by us and our operating partnership related to this litigation will not materially affect our financial position , operating results or liquidity .we have entered into employment agreements with certain executives , which expire between june 2010 and january 2013 .the minimum cash-based compensation , including base salary and guaran- teed bonus payments , associated with these employment agreements totals approximately $ 7.8 million for 2010 .in march 1998 , we acquired an operating sub-leasehold posi- tion at 420 lexington avenue .the operating sub-leasehold position required annual ground lease payments totaling $ 6.0 million and sub- leasehold position payments totaling $ 1.1 million ( excluding an operating sub-lease position purchased january 1999 ) .in june 2007 , we renewed and extended the maturity date of the ground lease at 420 lexington avenue through december 31 , 2029 , with an option for further exten- sion through 2080 .ground lease rent payments through 2029 will total approximately $ 10.9 million per year .thereafter , the ground lease will be subject to a revaluation by the parties thereto .in june 2009 , we acquired an operating sub-leasehold posi- tion at 420 lexington avenue for approximately $ 7.7 million .these sub-leasehold positions were scheduled to mature in december 2029 .in october 2009 , we acquired the remaining sub-leasehold position for $ 7.6 million .the property located at 711 third avenue operates under an operating sub-lease , which expires in 2083 .under the sub-lease , we are responsible for ground rent payments of $ 1.55 million annually through july 2011 on the 50% ( 50 % ) portion of the fee we do not own .the ground rent is reset after july 2011 based on the estimated fair market value of the property .we have an option to buy out the sub-lease at a fixed future date .the property located at 461 fifth avenue operates under a ground lease ( approximately $ 2.1 million annually ) with a term expiration date of 2027 and with two options to renew for an additional 21 years each , followed by a third option for 15 years .we also have an option to purchase the ground lease for a fixed price on a specific date .the property located at 625 madison avenue operates under a ground lease ( approximately $ 4.6 million annually ) with a term expiration date of 2022 and with two options to renew for an additional 23 years .the property located at 1185 avenue of the americas oper- ates under a ground lease ( approximately $ 8.5 million in 2010 and $ 6.9 million annually thereafter ) with a term expiration of 2020 and with an option to renew for an additional 23 years .in april 1988 , the sl green predecessor entered into a lease agreement for the property at 673 first avenue , which has been capitalized for financial statement purposes .land was estimated to be approximately 70% ( 70 % ) of the fair market value of the property .the portion of the lease attributed to land is classified as an operating lease and the remainder as a capital lease .the initial lease term is 49 years with an option for an additional 26 years .beginning in lease years 11 and 25 , the lessor is entitled to additional rent as defined by the lease agreement .we continue to lease the 673 first avenue property , which has been classified as a capital lease with a cost basis of $ 12.2 million and cumulative amortization of $ 5.5 million and $ 5.2 million at december 31 , 2009 and 2008 , respectively .the following is a schedule of future minimum lease payments under capital leases and noncancellable operating leases with initial terms in excess of one year as of december 31 , 2009 ( in thousands ) : non-cancellable december 31 , capital lease operating leases .
[['december 31,', 'capital lease', 'non-cancellable operating leases'], ['2010', '$ 1451', '$ 31347'], ['2011', '1555', '28929'], ['2012', '1555', '28179'], ['2013', '1555', '28179'], ['2014', '1555', '28179'], ['thereafter', '45649', '580600'], ['total minimum lease payments', '53320', '$ 725413'], ['less amount representing interest', '-36437 ( 36437 )', ''], ['present value of net minimum lease payments', '$ 16883', '']]
note 18 / financial instruments : derivatives and hedging we recognize all derivatives on the balance sheet at fair value .derivatives that are not hedges must be adjusted to fair value through income .if a derivative is a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earn- ings , or recognized in other comprehensive income until the hedged item is recognized in earnings .the ineffective portion of a derivative 2019s change in fair value will be immediately recognized in earnings .reported net income and stockholders 2019 equity may increase or decrease prospectively , depending on future levels of interest rates and other variables affecting the fair values of derivative instruments and hedged items , but will have no effect on cash flows. .
|
what was the change in non-cancellable operating lease expense in millions between 2011 and 2012?
|
750
|
{
"answer": "750",
"decimal": 750,
"type": "float"
}
| |
2mar201707015999 ( c ) in october 2016 , our accelerated share repurchase ( 2018 2018asr 2019 2019 ) agreement concluded and we received an additional 44 thousand shares of our common stock .shares purchased pursuant to the asr agreement are presented in the table above in the periods in which they were received .performance graph the following graph compares the performance of our common stock with that of the s&p 500 index and the s&p 500 healthcare equipment index .the cumulative total return listed below assumes an initial investment of $ 100 at the market close on december 30 , 2011 and reinvestment of dividends .comparison of 5 year cumulative total return 2011 2012 2016201520142013 edwards lifesciences corporation s&p 500 s&p 500 healthcare equipment index december 31 .
[['total cumulative return', '2012', '2013', '2014', '2015', '2016'], ['edwards lifesciences', '$ 127.54', '$ 93.01', '$ 180.17', '$ 223.42', '$ 265.06'], ['s&p 500', '116.00', '153.58', '174.60', '177.01', '198.18'], ['s&p 500 healthcare equipment index', '117.42', '150.28', '181.96', '194.37', '207.46']]
.
|
what was the difference in cumulative percentage returns between edwards lifesciences and the s&p 500 for the five years ended 2016?
|
67%
|
{
"answer": "67%",
"decimal": 0.67,
"type": "percentage"
}
| |
royal caribbean cruises ltd .15 from two to 17 nights throughout south america , the caribbean and europe .additionally , we announced that majesty of the seas will be redeployed from royal caribbean international to pullmantur in 2016 .pullmantur serves the contemporary segment of the spanish , portuguese and latin american cruise mar- kets .pullmantur 2019s strategy is to attract cruise guests from these target markets by providing a variety of cruising options and onboard activities directed at couples and families traveling with children .over the last few years , pullmantur has systematically increased its focus on latin america and has expanded its pres- ence in that market .in order to facilitate pullmantur 2019s ability to focus on its core cruise business , on march 31 , 2014 , pullmantur sold the majority of its interest in its non-core busi- nesses .these non-core businesses included pullmantur 2019s land-based tour operations , travel agency and 49% ( 49 % ) interest in its air business .in connection with the sale agreement , we retained a 19% ( 19 % ) interest in each of the non-core businesses as well as 100% ( 100 % ) ownership of the aircraft which are being dry leased to pullmantur air .see note 1 .general and note 6 .other assets to our consolidated financial statements under item 8 .financial statements and supplementary data for further details .cdf croisi e8res de france we currently operate two ships with an aggregate capacity of approximately 2800 berths under our cdf croisi e8res de france brand .cdf croisi e8res de france offers seasonal itineraries to the mediterranean , europe and caribbean .during the winter season , zenith is deployed to the pullmantur brand for sailings in south america .cdf croisi e8res de france is designed to serve the contemporary segment of the french cruise market by providing a brand tailored for french cruise guests .tui cruises tui cruises is a joint venture owned 50% ( 50 % ) by us and 50% ( 50 % ) by tui ag , a german tourism and shipping com- pany , and is designed to serve the contemporary and premium segments of the german cruise market by offering a product tailored for german guests .all onboard activities , services , shore excursions and menu offerings are designed to suit the preferences of this target market .tui cruises operates three ships , mein schiff 1 , mein schiff 2 and mein schiff 3 , with an aggregate capacity of approximately 6300 berths .in addition , tui cruises currently has three newbuild ships on order at the finnish meyer turku yard with an aggregate capacity of approximately 7500 berths : mein schiff 4 , scheduled for delivery in the second quarter of 2015 , mein schiff 5 , scheduled for delivery in the third quarter of 2016 and mein schiff 6 , scheduled for delivery in the second quarter of 2017 .in november 2014 , we formed a strategic partnership with ctrip.com international ltd .( 201cctrip 201d ) , a chinese travel service provider , to operate a new cruise brand known as skysea cruises .skysea cruises will offer a custom-tailored product for chinese cruise guests operating the ship purchased from celebrity cruises .the new cruise line will begin service in the second quarter of 2015 .we and ctrip each own 35% ( 35 % ) of the new company , skysea holding , with the balance being owned by skysea holding management and a private equity fund .industry cruising is considered a well-established vacation sector in the north american market , a growing sec- tor over the long term in the european market and a developing but promising sector in several other emerging markets .industry data indicates that market penetration rates are still low and that a significant portion of cruise guests carried are first-time cruisers .we believe this presents an opportunity for long-term growth and a potential for increased profitability .the following table details market penetration rates for north america and europe computed based on the number of annual cruise guests as a percentage of the total population : america ( 1 ) europe ( 2 ) .
[['year', 'north america ( 1 )', 'europe ( 2 )'], ['2010', '3.1% ( 3.1 % )', '1.1% ( 1.1 % )'], ['2011', '3.4% ( 3.4 % )', '1.1% ( 1.1 % )'], ['2012', '3.3% ( 3.3 % )', '1.2% ( 1.2 % )'], ['2013', '3.4% ( 3.4 % )', '1.2% ( 1.2 % )'], ['2014', '3.5% ( 3.5 % )', '1.3% ( 1.3 % )']]
( 1 ) source : our estimates are based on a combination of data obtained from publicly available sources including the interna- tional monetary fund and cruise lines international association ( 201cclia 201d ) .rates are based on cruise guests carried for at least two consecutive nights .includes the united states of america and canada .( 2 ) source : our estimates are based on a combination of data obtained from publicly available sources including the interna- tional monetary fund and clia europe , formerly european cruise council .we estimate that the global cruise fleet was served by approximately 457000 berths on approximately 283 ships at the end of 2014 .there are approximately 33 ships with an estimated 98650 berths that are expected to be placed in service in the global cruise market between 2015 and 2019 , although it is also possible that ships could be ordered or taken out of service during these periods .we estimate that the global cruise industry carried 22.0 million cruise guests in 2014 compared to 21.3 million cruise guests carried in 2013 and 20.9 million cruise guests carried in 2012 .part i .
|
what is the estimated percentage increase , from 2012 to 2014 , in total global cruise guests?
|
5.26%
|
{
"answer": "5.26%",
"decimal": 0.0526,
"type": "percentage"
}
| |
during fiscal 2013 , we entered into an asr with a financial institution to repurchase an aggregate of $ 125 million of our common stock .in exchange for an up-front payment of $ 125 million , the financial institution committed to deliver a number of shares during the asr 2019s purchase period , which ended on march 30 , 2013 .the total number of shares delivered under this asr was 2.5 million at an average price of $ 49.13 per share .during fiscal 2013 , in addition to shares repurchased under the asr , we repurchased and retired 1.1 million shares of our common stock at a cost of $ 50.3 million , or an average of $ 44.55 per share , including commissions .note 10 2014share-based awards and options non-qualified stock options and restricted stock have been granted to officers , key employees and directors under the global payments inc .2000 long-term incentive plan , as amended and restated ( the 201c2000 plan 201d ) , the global payments inc .amended and restated 2005 incentive plan ( the 201c2005 plan 201d ) , the amended and restated 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 ) .there were no further grants made under the 2000 plan after the 2005 plan was effective , and the director stock option plan expired by its terms on february 1 , 2011 .there will be no future grants under the 2000 plan , the 2005 plan or the director stock option the 2011 plan permits grants of equity to employees , officers , directors and consultants .a total of 7.0 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 stock options , restricted stock , performance units , tsr units , and shares issued under our employee stock purchase plan ( each as described below ) .2015 2014 2013 ( in millions ) .
[['', '2015', '2014 ( in millions )', '2013'], ['share-based compensation expense', '$ 21.1', '$ 29.8', '$ 18.4'], ['income tax benefit', '$ -6.9 ( 6.9 )', '$ -7.1 ( 7.1 )', '$ -5.6 ( 5.6 )']]
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 and restricted stock units we grant restricted stock and restricted stock units .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 will 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 up to three types of 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 .80 2013 global payments inc .| 2015 form 10-k annual report .
|
what was the total income tax benefit that came from buying back their common stock from 2013 to 2015?
|
$ 19.6 million
|
{
"answer": "$ 19.6 million",
"decimal": 19600000,
"type": "money"
}
|
to calculate the income tax benefit one would need to add up the income tax benefit for the years of 2013 , 2014 , and 2015 .
|
allowance for doubtful accounts is as follows: .
[['', '2010', '2009', '2008'], ['balance at beginning of year', '$ 160', '$ 133', '$ 86'], ['provision', '38', '54', '65'], ['amounts written off', '-13 ( 13 )', '-27 ( 27 )', '-18 ( 18 )'], ['balance at end of year', '$ 185', '$ 160', '$ 133']]
discontinued operations during the fourth quarter of 2009 , schlumberger recorded a net $ 22 million charge related to the resolution of a customs assessment pertaining to its former offshore contract drilling business , as well as the resolution of certain contingencies associated with other previously disposed of businesses .this amount is included in income ( loss ) from discontinued operations in the consolidated statement of income .during the first quarter of 2008 , schlumberger recorded a gain of $ 38 million related to the resolution of a contingency associated with a previously disposed of business .this gain is included in income ( loss ) from discon- tinued operations in the consolidated statement of income .part ii , item 8 .
|
in 2010 , what percentage of allowance for doubtful accounts were written off?
|
8%
|
{
"answer": "8%",
"decimal": 0.08,
"type": "percentage"
}
| |
shareholder return performance presentation the graph presented below compares the cumulative total shareholder return on state street's common stock to the cumulative total return of the s&p 500 index , the s&p financial index and the kbw bank index over a five- year period .the cumulative total shareholder return assumes the investment of $ 100 in state street common stock and in each index on december 31 , 2008 at the closing price on the last trading day of 2008 , and also assumes reinvestment of common stock dividends .the s&p financial index is a publicly available measure of 81 of the standard & poor's 500 companies , representing 17 diversified financial services companies , 22 insurance companies , 19 real estate companies and 23 banking companies .the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s. , and is composed of 24 leading national money center and regional banks and thrifts. .
[['', '2008', '2009', '2010', '2011', '2012', '2013'], ['state street corporation', '$ 100', '$ 111', '$ 118', '$ 105', '$ 125', '$ 198'], ['s&p 500 index', '100', '126', '146', '149', '172', '228'], ['s&p financial index', '100', '117', '132', '109', '141', '191'], ['kbw bank index', '100', '98', '121', '93', '122', '168']]
.
|
how much higher are the returns of the s&p 500 in the same period ( 2008-2013 ) ? as a percentage .
|
30%
|
{
"answer": "30%",
"decimal": 0.3,
"type": "percentage"
}
|
used result from question 1
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) company is currently unable to estimate the impact of the amount of such changes , if any , to previously recorded uncertain tax positions .a reconciliation of the beginning and ending amount of unrecognized tax benefits for the year ending december 31 , 2007 is as follows ( in thousands ) : .
[['balance at january 1 2007', '$ 183953'], ['additions based on tax positions related to the current year', '2598'], ['additions for tax positions of prior years', '5412'], ['reductions for tax positions of prior years', '-120016 ( 120016 )'], ['cash advance in connection with proposed settlement', '-6682 ( 6682 )'], ['settlements with taxing authorities', '-5372 ( 5372 )'], ['reductions as a result of the lapse of statute of limitations', '-669 ( 669 )'], ['balance as of december 31 2007', '$ 59224']]
during the year ended december 31 , 2007 , the company recorded penalties and tax-related interest income of $ 2.5 million and interest income from tax refunds of $ 1.5 million for the year ended december 31 , 2007 .as of december 31 , 2007 and january 1 , 2007 , the total unrecognized tax benefits included in other long-term liabilities in the consolidated balance sheets was $ 29.6 million and $ 34.3 million , respectively .as of december 31 , 2007 and january 1 , 2007 , the total amount of accrued income tax-related interest and penalties included in other long-term liabilities in the consolidated balance sheets was $ 30.7 million and $ 33.2 million , respectively .in the fourth quarter of 2007 , the company entered into a tax amnesty program with the mexican tax authority .as of december 31 , 2007 , the company had met all of the administrative requirements of the program , which enabled the company to recognize certain tax benefits .this was confirmed by the mexican tax authority on february 5 , 2008 .these benefits include a reduction of uncertain tax benefits of $ 5.4 million along with penalties and interest of $ 12.5 million related to 2002 , all of which reduced income tax expense .in connection with the above program , the company paid $ 6.7 million to the mexican tax authority as a settlement offer for other uncertain tax positions related to 2003 and 2004 .this offer is currently under review by the mexican tax authority ; the company cannot yet determine the specific timing or the amount of any potential settlement .during 2007 , the statute of limitations on certain unrecognized tax benefits lapsed , which resulted in a $ 0.7 million decrease in the liability for uncertain tax benefits , all of which reduced the income tax provision .the company files numerous consolidated and separate income tax returns , including u.s .federal and state tax returns and foreign tax returns in mexico and brazil .as a result of the company 2019s ability to carry forward federal and state net operating losses , the applicable tax years remain open to examination until three years after the applicable loss carryforwards have been used or expired .however , the company has completed u.s .federal income tax examinations for tax years up to and including 2002 .the company is currently undergoing u.s .federal income tax examinations for tax years 2004 and 2005 .additionally , it is subject to examinations in various u.s .state jurisdictions for certain tax years , and is under examination in brazil for the 2001 through 2006 tax years and mexico for the 2002 tax year .sfas no .109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2007 , the company has provided a valuation allowance of approximately $ 88.2 million , including approximately .
|
without the statutes running in 2007 , what would the total be in thousands of the unrecognized tax benefits?\\n
|
59893
|
{
"answer": "59893",
"decimal": 59893,
"type": "float"
}
| |
fair value of financial instruments we believe that the fair values of current assets and current liabilities approximate their reported carrying amounts .the fair values of non-current financial assets , liabilities and derivatives are shown in the following table. .
[['( $ in millions )', '2005 carrying amount', '2005 fair value', '2005 carrying amount', 'fair value'], ['notes and other long-term assets', '$ 1374', '$ 1412', '$ 1702', '$ 1770'], ['long-term debt and other long-term liabilities', '$ 1636', '$ 1685', '$ 848', '$ 875'], ['derivative instruments', '$ 6', '$ 6', '$ 2014', '$ 2014']]
we value notes and other receivables based on the expected future cash flows dis- counted at risk-adjusted rates .we determine valuations for long-term debt and other long-term liabilities based on quoted market prices or expected future payments dis- counted at risk-adjusted rates .derivative instruments during 2003 , we entered into an interest rate swap agreement under which we receive a floating rate of interest and pay a fixed rate of interest .the swap modifies our interest rate exposure by effectively converting a note receivable with a fixed rate to a floating rate .the aggregate notional amount of the swap is $ 92 million and it matures in 2010 .the swap is classified as a fair value hedge under fas no .133 , 201caccounting for derivative instruments and hedging activities 201d ( 201cfas no .133 201d ) , and the change in the fair value of the swap , as well as the change in the fair value of the underlying note receivable , is recognized in interest income .the fair value of the swap was a $ 1 million asset at year-end 2005 , and a $ 3 million liability at year-end 2004 .the hedge is highly effective , and therefore , no net gain or loss was reported during 2005 , 2004 , and 2003 .during 2005 , we entered into two interest rate swap agreements to manage the volatil- ity of the u.s .treasury component of the interest rate risk associated with the forecasted issuance our series f senior notes and the exchange of our series c and e senior notes for new series g senior notes .both swaps were designated as cash flow hedges under fas no .133 and were terminated upon pricing of the notes .both swaps were highly effective in offsetting fluctuations in the u.s .treasury component .thus , there was no net gain or loss reported in earnings during 2005 .the total amount for these swaps was recorded in other comprehensive income and was a net loss of $ 2 million during 2005 , which will be amortized to interest expense using the interest method over the life of the notes .at year-end 2005 , we had six outstanding interest rate swap agreements to manage interest rate risk associated with the residual interests we retain in conjunction with our timeshare note sales .historically , we were required by purchasers and/or rating agen- cies to utilize interest rate swaps to protect the excess spread within our sold note pools .the aggregate notional amount of the swaps is $ 380 million , and they expire through 2022 .these swaps are not accounted for as hedges under fas no .133 .the fair value of the swaps is a net asset of $ 5 million at year-end 2005 , and a net asset of approximately $ 3 million at year-end 2004 .we recorded a $ 2 million net gain during 2005 and 2004 , and a $ 3 million net gain during 2003 .during 2005 , 2004 , and 2003 , we entered into interest rate swaps to manage interest rate risk associated with forecasted timeshare note sales .during 2005 , one swap was designated as a cash flow hedge under fas no .133 and was highly effective in offsetting interest rate fluctuations .the amount of the ineffectiveness is immaterial .the second swap entered into in 2005 did not qualify for hedge accounting .the non-qualifying swaps resulted in a loss of $ 3 million during 2005 , a gain of $ 2 million during 2004 and a loss of $ 4 million during 2003 .these amounts are included in the gains from the sales of timeshare notes receivable .during 2005 , 2004 , and 2003 , we entered into forward foreign exchange contracts to manage the foreign currency exposure related to certain monetary assets .the aggregate dollar equivalent of the notional amount of the contracts is $ 544 million at year-end 2005 .the forward exchange contracts do not qualify as hedges in accordance with fas no .133 .the fair value of the forward contracts is a liability of $ 2 million at year-end 2005 and zero at year-end 2004 .we recorded a $ 26 million gain during 2005 and a $ 3 million and $ 2 million net loss during 2004 and 2003 , respectively , relating to these forward foreign exchange contracts .the net gains and losses for all years were offset by income and losses recorded from translating the related monetary assets denominated in foreign currencies into u.s .dollars .during 2005 , 2004 , and 2003 , we entered into foreign exchange option and forward contracts to hedge the potential volatility of earnings and cash flows associated with variations in foreign exchange rates .the aggregate dollar equivalent of the notional amounts of the contracts is $ 27 million at year-end 2005 .these contracts have terms of less than one year and are classified as cash flow hedges .changes in their fair values are recorded as a component of other comprehensive income .the fair value of the option contracts is approximately zero at year-end 2005 and 2004 .during 2004 , it was deter- mined that certain derivatives were no longer effective in offsetting the hedged item .thus , cash flow hedge accounting treatment was discontinued and the ineffective con- tracts resulted in a loss of $ 1 million , which was reported in earnings for 2004 .the remaining hedges were highly effective and there was no net gain or loss reported in earnings for 2005 , 2004 , and 2003 .as of year-end 2005 , there were no deferred gains or losses on existing contracts accumulated in other comprehensive income that we expect to reclassify into earnings over the next year .during 2005 , we entered into forward foreign exchange contracts to manage currency exchange rate volatility associated with certain investments in foreign operations .one contract was designated as a hedge in the net investment of a foreign operation under fas no .133 .the hedge was highly effective and resulted in a $ 1 million net loss in the cumulative translation adjustment at year-end 2005 .certain contracts did not qualify as hedges under fas no .133 and resulted in a gain of $ 3 million for 2005 .the contracts offset the losses associated with translation adjustments for various investments in for- eign operations .the contracts have an aggregate dollar equivalent of the notional amounts of $ 229 million and a fair value of approximately zero at year-end 2005 .contingencies guarantees we issue guarantees to certain lenders and hotel owners primarily to obtain long-term management contracts .the guarantees generally have a stated maximum amount of funding and a term of five years or less .the terms of guarantees to lenders generally require us to fund if cash flows from hotel operations are inadequate to cover annual debt service or to repay the loan at the end of the term .the terms of the guarantees to hotel owners generally require us to fund if the hotels do not attain specified levels of 5 0 | m a r r i o t t i n t e r n a t i o n a l , i n c .2 0 0 5 .
|
what is the potential gain if the notes and other long-term assets had been sold at the end of 2004?
|
68
|
{
"answer": "68",
"decimal": 68,
"type": "float"
}
| |
dispositions of depreciable real estate assets excluded from discontinued operations we recorded a gain on sale of depreciable assets excluded from discontinued operations of $ 190.0 million for the year ended december 31 , 2015 , an increase of approximately $ 147.3 million from the $ 42.6 million gain on sale of depreciable assets recorded for the year ended december 31 , 2014 .the increase was primarily the result of increased disposition activity .dispositions increased from eight multifamily properties for the year ended december 31 , 2014 , to 21 multifamily properties for the year ended december 31 , 2015 .gain from real estate joint ventures we recorded a gain from real estate joint ventures of $ 6.0 million during the year ended december 31 , 2014 as opposed to no material gain or loss being recorded during the year ended december 31 , 2015 .the decrease was primarily a result of recording a $ 3.4 million gain for the disposition of ansley village by mid-america multifamily fund ii , or fund ii , as well as a $ 2.8 million gain for the promote fee received from our fund ii partner during 2014 .the promote fee was received as a result of maa achieving certain performance metrics in its management of the fund ii properties over the life of the joint venture .there were no such gains recorded during the year ended december 31 , 2015 .discontinued operations we recorded a gain on sale of discontinued operations of $ 5.4 million for the year ended december 31 , 2014 .we did not record a gain or loss on sale of discontinued operations during the year ended december 31 , 2015 , due to the adoption of asu 2014-08 , reporting discontinued operations and disclosures of disposals of components of an entity , which resulted in dispositions being included in the gain on sale of depreciable real estate assets excluded from discontinued operations and is discussed further below .net income attributable to noncontrolling interests net income attributable to noncontrolling interests for the year ended december 31 , 2015 was approximately $ 18.5 million , an increase of $ 10.2 million from the year ended december 31 , 2014 .this increase is consistent with the increase to overall net income and is primarily a result of the items discussed above .net income attributable to maa primarily as a result of the items discussed above , net income attributable to maa increased by approximately $ 184.3 million in the year ended december 31 , 2015 from the year ended december 31 , 2014 .comparison of the year ended december 31 , 2014 to the year ended december 31 , 2013 the comparison of the year ended december 31 , 2014 to the year ended december 31 , 2013 shows the segment break down based on the 2014 same store portfolios .a comparison using the 2015 same store portfolio would not be comparative due to the nature of the classifications as a result of the merger .property revenues the following table shows our property revenues by segment for the years ended december 31 , 2014 and december 31 , 2013 ( dollars in thousands ) : year ended december 31 , 2014 year ended december 31 , 2013 increase percentage increase .
[['', 'year ended december 31 2014', 'year ended december 31 2013', 'increase', 'percentage increase'], ['large market same store', '$ 252029', '$ 241194', '$ 10835', '4.5% ( 4.5 % )'], ['secondary market same store', '246800', '242464', '4336', '1.8% ( 1.8 % )'], ['same store portfolio', '498829', '483658', '15171', '3.1% ( 3.1 % )'], ['non-same store and other', '493349', '151185', '342164', '226.3% ( 226.3 % )'], ['total', '$ 992178', '$ 634843', '$ 357335', '56.3% ( 56.3 % )']]
job title mid-america apartment 10-k revision 1 serial <12345678> date sunday , march 20 , 2016 job number 304352-1 type page no .51 operator abigaels .
|
what is the percentage of non-same store revenue among the total revenue in 2014?
|
49.72%
|
{
"answer": "49.72%",
"decimal": 0.4972,
"type": "percentage"
}
|
it is the revenue of the non-same store divided by the total revenue , then turned into a percentage .
|
entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 175.4 million primarily due to the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense .also contributing to the increase were lower other operation and maintenance expenses , higher net revenue , and higher other income .the increase was partially offset by higher depreciation and amortization expenses , higher interest expense , and higher nuclear refueling outage expenses .2015 compared to 2014 net income increased slightly , by $ 0.6 million , primarily due to higher net revenue and a lower effective income tax rate , offset by higher other operation and maintenance expenses , higher depreciation and amortization expenses , lower other income , and higher interest expense .net revenue 2016 compared to 2015 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .following is an analysis of the change in net revenue comparing 2016 to 2015 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2015 net revenue', '$ 2408.8'], ['retail electric price', '69.0'], ['transmission equalization', '-6.5 ( 6.5 )'], ['volume/weather', '-6.7 ( 6.7 )'], ['louisiana act 55 financing savings obligation', '-17.2 ( 17.2 )'], ['other', '-9.0 ( 9.0 )'], ['2016 net revenue', '$ 2438.4']]
the retail electric price variance is primarily due to an increase in formula rate plan revenues , implemented with the first billing cycle of march 2016 , to collect the estimated first-year revenue requirement related to the purchase of power blocks 3 and 4 of the union power station .see note 2 to the financial statements for further discussion .the transmission equalization variance is primarily due to changes in transmission investments , including entergy louisiana 2019s exit from the system agreement in august 2016 .the volume/weather variance is primarily due to the effect of less favorable weather on residential sales , partially offset by an increase in industrial usage and an increase in volume during the unbilled period .the increase .
|
what portion of the change in net income during 2016 was related the irs audit?
|
77.6%
|
{
"answer": "77.6%",
"decimal": 0.7759999999999999,
"type": "percentage"
}
| |
a valuation allowance totaling $ 43.9 million , $ 40.4 million and $ 40.1 million as of 2012 , 2011 and 2010 year end , respectively , has been established for deferred income tax assets primarily related to certain subsidiary loss carryforwards that may not be realized .realization of the net deferred income tax assets is dependent on generating sufficient taxable income prior to their expiration .although realization is not assured , management believes it is more- likely-than-not that the net deferred income tax assets will be realized .the amount of the net deferred income tax assets considered realizable , however , could change in the near term if estimates of future taxable income during the carryforward period fluctuate .the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for 2012 , 2011 and ( amounts in millions ) 2012 2011 2010 .
[['( amounts in millions )', '2012', '2011', '2010'], ['unrecognized tax benefits at beginning of year', '$ 11.0', '$ 11.1', '$ 17.5'], ['gross increases 2013 tax positions in prior periods', '0.7', '0.5', '0.6'], ['gross decreases 2013 tax positions in prior periods', '-4.9 ( 4.9 )', '-0.4 ( 0.4 )', '-0.4 ( 0.4 )'], ['gross increases 2013 tax positions in the current period', '1.2', '2.8', '3.1'], ['settlements with taxing authorities', '2013', '-1.2 ( 1.2 )', '-9.5 ( 9.5 )'], ['increase related to acquired business', '2013', '2013', '0.4'], ['lapsing of statutes of limitations', '-1.2 ( 1.2 )', '-1.8 ( 1.8 )', '-0.6 ( 0.6 )'], ['unrecognized tax benefits at end of year', '$ 6.8', '$ 11.0', '$ 11.1']]
of the $ 6.8 million , $ 11.0 million and $ 11.1 million of unrecognized tax benefits as of 2012 , 2011 and 2010 year end , respectively , approximately $ 4.1 million , $ 9.1 million and $ 11.1 million , respectively , would impact the effective income tax rate if recognized .interest and penalties related to unrecognized tax benefits are recorded in income tax expense .during 2012 and 2011 , the company reversed a net $ 0.5 million and $ 1.4 million , respectively , of interest and penalties to income associated with unrecognized tax benefits .as of 2012 , 2011 and 2010 year end , the company has provided for $ 1.6 million , $ 1.6 million and $ 2.8 million , respectively , of accrued interest and penalties related to unrecognized tax benefits .the unrecognized tax benefits and related accrued interest and penalties are included in 201cother long-term liabilities 201d on the accompanying consolidated balance sheets .snap-on and its subsidiaries file income tax returns in the united states and in various state , local and foreign jurisdictions .it is reasonably possible that certain unrecognized tax benefits may either be settled with taxing authorities or the statutes of limitations for such items may lapse within the next 12 months , causing snap-on 2019s gross unrecognized tax benefits to decrease by a range of zero to $ 2.4 million .over the next 12 months , snap-on anticipates taking uncertain tax positions on various tax returns for which the related tax benefit does not meet the recognition threshold .accordingly , snap-on 2019s gross unrecognized tax benefits may increase by a range of zero to $ 1.6 million over the next 12 months for uncertain tax positions expected to be taken in future tax filings .with few exceptions , snap-on is no longer subject to u.s .federal and state/local income tax examinations by tax authorities for years prior to 2008 , and snap-on is no longer subject to non-u.s .income tax examinations by tax authorities for years prior to 2006 .the undistributed earnings of all non-u.s .subsidiaries totaled $ 492.2 million , $ 416.4 million and $ 386.5 million as of 2012 , 2011 and 2010 year end , respectively .snap-on has not provided any deferred taxes on these undistributed earnings as it considers the undistributed earnings to be permanently invested .determination of the amount of unrecognized deferred income tax liability related to these earnings is not practicable .2012 annual report 83 .
|
what is the net change in unrecognized tax benefits in 2012?
|
-4.2
|
{
"answer": "-4.2",
"decimal": -4.2,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) market and lease the unused tower space on the broadcast towers ( the economic rights ) .tv azteca retains title to these towers and is responsible for their operation and maintenance .the company is entitled to 100% ( 100 % ) of the revenues generated from leases with tenants on the unused space and is responsible for any incremental operating expenses associated with those tenants .the term of the economic rights agreement is seventy years ; however , tv azteca has the right to purchase , at fair market value , the economic rights from the company at any time during the last fifty years of the agreement .should tv azteca elect to purchase the economic rights ( in whole or in part ) , it would also be obligated to repay a proportional amount of the loan discussed above at the time of such election .the company 2019s obligation to pay tv azteca $ 1.5 million annually would also be reduced proportionally .the company has accounted for the annual payment of $ 1.5 million as a capital lease ( initially recording an asset and a corresponding liability of approximately $ 18.6 million ) .the capital lease asset and the discount on the note , which aggregate approximately $ 30.2 million , represent the cost to acquire the economic rights and are being amortized over the seventy-year life of the economic rights agreement .on a quarterly basis , the company assesses the recoverability of its note receivable from tv azteca .as of december 31 , 2007 and 2006 , the company has assessed the recoverability of the note receivable from tv azteca and concluded that no adjustment to its carrying value is required .a former executive officer and former director of the company served as a director of tv azteca from december 1999 to february 2006 .as of december 31 , 2007 and 2006 , the company also had other long-term notes receivable outstanding of approximately $ 4.3 million and $ 11.0 million , respectively .8 .derivative financial instruments the company enters into interest rate protection agreements to manage exposure on the variable rate debt under its credit facilities and to manage variability in cash flows relating to forecasted interest payments .under these agreements , the company is exposed to credit risk to the extent that a counterparty fails to meet the terms of a contract .such exposure was limited to the current value of the contract at the time the counterparty fails to perform .the company believes its contracts as of december 31 , 2007 and 2006 are with credit worthy institutions .as of december 31 , 2007 and 2006 , the carrying amounts of the company 2019s derivative financial instruments , along with the estimated fair values of the related assets reflected in notes receivable and other long-term assets and ( liabilities ) reflected in other long-term liabilities in the accompanying consolidated balance sheet , are as follows ( in thousands except percentages ) : as of december 31 , 2007 notional amount interest rate term carrying amount and fair value .
[['as of december 31 2007', 'notional amount', 'interest rate', 'term', 'carrying amount and fair value'], ['interest rate swap agreement', '$ 150000', '3.95% ( 3.95 % )', 'expiring in 2009', '$ -369 ( 369 )'], ['interest rate swap agreement', '100000', '4.08% ( 4.08 % )', 'expiring in 2010', '-571 ( 571 )'], ['total', '$ 250000', '', '', '$ -940 ( 940 )']]
.
|
what is the net change in the balance of other long-term notes receivable during 2007?
|
6.7
|
{
"answer": "6.7",
"decimal": 6.7,
"type": "float"
}
| |
adobe systems incorporated notes to consolidated financial statements ( continued ) we review our goodwill for impairment annually , or more frequently , if facts and circumstances warrant a review .we completed our annual impairment test in the second quarter of fiscal 2014 .we elected to use the step 1 quantitative assessment for our reporting units and determined that there was no impairment of goodwill .there is no significant risk of material goodwill impairment in any of our reporting units , based upon the results of our annual goodwill impairment test .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 2014 , 2013 or 2012 .our intangible assets are amortized over their estimated useful lives of 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', '10'], ['trademarks', '8'], ['acquired rights to use technology', '8'], ['localization', '1'], ['other intangibles', '3']]
software development costs capitalization of software development costs for software to be sold , leased , or otherwise marketed begins upon the establishment of technological feasibility , which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate .amortization begins once the software is ready for its intended use , generally based on the pattern in which the economic benefits will be consumed .to date , software development costs incurred between completion of a working prototype and general availability of the related product have not been material .internal use software we capitalize costs associated with customized internal-use software systems that have reached the application development stage .such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related expenses for employees , who are directly associated with the development of the applications .capitalization of such costs begins when the preliminary project stage is complete and ceases at the point in which the project is substantially complete and is ready for its intended purpose .income taxes we use the asset and liability method of accounting for income taxes .under this method , income tax expense is recognized for the amount of taxes payable or refundable for the current year .in addition , deferred tax assets and liabilities are recognized for expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities , and for operating losses and tax credit carryforwards .we record a valuation allowance to reduce deferred tax assets to an amount for which realization is more likely than not .taxes collected from customers we net taxes collected from customers against those remitted to government authorities in our financial statements .accordingly , taxes collected from customers are not reported as revenue. .
|
what is the yearly amortization rate related to the trademarks?
|
12.5%
|
{
"answer": "12.5%",
"decimal": 0.125,
"type": "percentage"
}
| |
discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014 factors affecting sources of liquidity . 201d recent sales of unregistered securities during the year ended december 31 , 2005 , we issued an aggregate of 4670335 shares of our class a common stock upon conversion of $ 57.1 million principal amount of our 3.25% ( 3.25 % ) notes .pursuant to the terms of the indenture , the holders of the 3.25% ( 3.25 % ) notes received 81.808 shares of class a common stock for every $ 1000 principal amount of notes converted .the shares were issued to the noteholders in reliance on the exemption from registration set forth in section 3 ( a ) ( 9 ) of the securities act of 1933 , as amended .no underwriters were engaged in connection with such issuances .in connection with the conversion , we paid such holders an aggregate of $ 4.9 million , calculated based on the accrued and unpaid interest on the notes and the discounted value of the future interest payments on the notes .subsequent to december 31 , 2005 , we issued shares of class a common stock upon conversions of additional 3.25% ( 3.25 % ) notes , as set forth in item 9b of this annual report under the caption 201cother information . 201d during the year ended december 31 , 2005 , we issued an aggregate of 398412 shares of our class a common stock upon exercises of 55729 warrants assumed in our merger with spectrasite , inc .in august 2005 , in connection with our merger with spectrasite , inc. , we assumed approximately 1.0 million warrants to purchase shares of spectrasite , inc .common stock .upon completion of the merger , each warrant to purchase shares of spectrasite , inc .common stock automatically converted into a warrant to purchase 7.15 shares of class a common stock at an exercise price of $ 32 per warrant .net proceeds from these warrant exercises were approximately $ 1.8 million .the shares of class a common stock issued to the warrantholders upon exercise of the warrants were issued in reliance on the exemption from registration set forth in section 3 ( a ) ( 9 ) of the securities act of 1933 , as amended .no underwriters were engaged in connection with such issuances .subsequent to december 31 , 2005 , we issued shares of class a common stock upon exercises of additional warrants , as set forth in item 9b of this annual report under the caption 201cother information . 201d issuer purchases of equity securities in november 2005 , we announced that our board of directors had approved a stock repurchase program pursuant to which we intend to repurchase up to $ 750.0 million of our class a common stock through december 2006 .during the fourth quarter of 2005 , we repurchased 2836519 shares of our class a common stock for an aggregate of $ 76.6 million pursuant to our stock repurchase program , as follows : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs ( 1 ) approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .
[['period', 'total number of shares purchased ( 1 )', 'average price paid per share', 'total number of shares purchased as part of publicly announced plans or programs ( 1 )', 'approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions )'], ['11/17/05 2013 11/30/05', '874306', '$ 26.25', '874306', '$ 727.0'], ['12/1/05 2013 12/31/05', '1962213', '$ 27.29', '1962213', '$ 673.4'], ['total fourth quarter', '2836519', '$ 26.97', '2836519', '$ 673.4']]
( 1 ) all issuer repurchases were made pursuant to the stock repurchase program publicly announced in november 2005 .pursuant to the program , we intend to repurchase up to $ 750.0 million of our class a common stock during the period november 2005 through december 2006 .under the program , our management is authorized to purchase shares from time to time in open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors .to facilitate repurchases , we entered into a trading plan under rule 10b5-1 of the securities exchange act of 1934 , which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self- imposed trading blackout periods .the program may be discontinued at any time .since december 31 , 2005 , we have continued to repurchase shares of our class a common stock pursuant to our stock repurchase program .between january 1 , 2006 and march 9 , 2006 , we repurchased 3.9 million shares of class a common stock for an aggregate of $ 117.4 million pursuant to the stock repurchase program. .
|
based on the information what was the number of stock warrants issued for the purchase of spectrasite , inc
|
56250
|
{
"answer": "56250",
"decimal": 56250,
"type": "float"
}
| |
fair value of the tangible assets and identifiable intangible assets acquired , was $ 17.7 million .goodwill resulted primarily from the company 2019s expectation of synergies from the integration of sigma-c 2019s technology with the company 2019s technology and operations .virtio corporation , inc .( virtio ) the company acquired virtio on may 15 , 2006 in an all-cash transaction .reasons for the acquisition .the company believes that its acquisition of virtio will expand its presence in electronic system level design .the company expects the combination of the company 2019s system studio solution with virtio 2019s virtual prototyping technology will help accelerate systems to market by giving software developers the ability to begin code development earlier than with prevailing methods .purchase price .the company paid $ 9.1 million in cash for the outstanding shares of virtio , of which $ 0.9 million was deposited with an escrow agent and which will be paid to the former stockholders of virtio pursuant to the terms of an escrow agreement .in addition , the company had a prior investment in virtio of approximately $ 1.7 million .the total purchase consideration consisted of: .
[['', '( in thousands )'], ['cash paid', '$ 9076'], ['prior investment in virtio', '1664'], ['acquisition-related costs', '713'], ['total purchase price', '$ 11453']]
acquisition-related costs of $ 0.7 million consist primarily of legal , tax and accounting fees , estimated facilities closure costs and employee termination costs .as of october 31 , 2006 , the company had paid $ 0.3 million of the acquisition-related costs .the $ 0.4 million balance remaining at october 31 , 2006 primarily consists of professional and tax-related service fees and facilities closure costs .under the agreement with virtio , the company has also agreed to pay up to $ 4.3 million over three years to the former stockholders based upon achievement of certain sales milestones .this contingent consideration is considered to be additional purchase price and will be an adjustment to goodwill when and if payment is made .additionally , the company has also agreed to pay $ 0.9 million in employee retention bonuses which will be recognized as compensation expense over the service period of the applicable employees .assets acquired .the company has performed a preliminary valuation and allocated the total purchase consideration to the assets and liabilities acquired , including identifiable intangible assets based on their respective fair values on the acquisition date .the company acquired $ 2.5 million of intangible assets consisting of $ 1.9 million in existing technology , $ 0.4 million in customer relationships and $ 0.2 million in non-compete agreements to be amortized over five to seven years .additionally , the company acquired tangible assets of $ 5.5 million and assumed liabilities of $ 3.2 million .goodwill , representing the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in the merger , was $ 6.7 million .goodwill resulted primarily from the company 2019s expectation of synergies from the integration of virtio 2019s technology with the company 2019s technology and operations .hpl technologies , inc .( hpl ) the company acquired hpl on december 7 , 2005 in an all-cash transaction .reasons for the acquisition .the company believes that the acquisition of hpl will help solidify the company 2019s position as a leading electronic design automation vendor in design for manufacturing ( dfm ) .
|
what percentage of the total purchase price did intangible assets represent?
|
22%
|
{
"answer": "22%",
"decimal": 0.22,
"type": "percentage"
}
| |
management 2019s discussion and analysis net revenues in equities were $ 8.21 billion for 2012 , essentially unchanged compared with 2011 .net revenues in securities services were significantly higher compared with 2011 , reflecting a gain of $ 494 million on the sale of our hedge fund administration business .in addition , equities client execution net revenues were higher than 2011 , primarily reflecting significantly higher results in cash products , principally due to increased levels of client activity .these increases were offset by lower commissions and fees , reflecting declines in the united states , europe and asia .our average daily volumes during 2012 were lower in each of these regions compared with 2011 , consistent with listed cash equity market volumes .during 2012 , equities operated in an environment generally characterized by an increase in global equity prices and lower volatility levels .the net loss attributable to the impact of changes in our own credit spreads on borrowings for which the fair value option was elected was $ 714 million ( $ 433 million and $ 281 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2012 , compared with a net gain of $ 596 million ( $ 399 million and $ 197 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2011 .during 2012 , institutional client services operated in an environment generally characterized by continued broad market concerns and uncertainties , although positive developments helped to improve market conditions .these developments included certain central bank actions to ease monetary policy and address funding risks for european financial institutions .in addition , the u.s .economy posted stable to improving economic data , including favorable developments in unemployment and housing .these improvements resulted in tighter credit spreads , higher global equity prices and lower levels of volatility .however , concerns about the outlook for the global economy and continued political uncertainty , particularly the political debate in the united states surrounding the fiscal cliff , generally resulted in client risk aversion and lower activity levels .also , uncertainty over financial regulatory reform persisted .operating expenses were $ 12.48 billion for 2012 , 3% ( 3 % ) lower than 2011 , primarily due to lower brokerage , clearing , exchange and distribution fees , and lower impairment charges , partially offset by higher net provisions for litigation and regulatory proceedings .pre- tax earnings were $ 5.64 billion in 2012 , 27% ( 27 % ) higher than 2011 .investing & lending investing & lending includes our investing activities and the origination of loans to provide financing to clients .these investments , some of which are consolidated , and loans are typically longer-term in nature .we make investments , 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 2013', 'year ended december 2012', 'year ended december 2011'], ['equity securities', '$ 3930', '$ 2800', '$ 603'], ['debt securities and loans', '1947', '1850', '96'], ['other', '1141', '1241', '1443'], ['total net revenues', '7018', '5891', '2142'], ['operating expenses', '2684', '2666', '2673'], ['pre-tax earnings/ ( loss )', '$ 4334', '$ 3225', '$ -531 ( 531 )']]
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 .if equity markets decline or credit spreads widen , net revenues in investing & lending would likely be negatively impacted .operating expenses were $ 2.68 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 .52 goldman sachs 2013 annual report .
|
operating expenses for 2012 , were what percent of pre- tax earnings?
|
221%
|
{
"answer": "221%",
"decimal": 2.21,
"type": "percentage"
}
| |
the goldman sachs group , inc .and subsidiaries notes to consolidated financial statements 2030 purchased interests represent senior and subordinated interests , purchased in connection with secondary market-making activities , in securitization entities in which the firm also holds retained interests .2030 substantially all of the total outstanding principal amount and total retained interests relate to securitizations during 2014 and thereafter as of december 2018 , and relate to securitizations during 2012 and thereafter as of december 2017 .2030 the fair value of retained interests was $ 3.28 billion as of december 2018 and $ 2.13 billion as of december 2017 .in addition to the interests in the table above , the firm had other continuing involvement in the form of derivative transactions and commitments with certain nonconsolidated vies .the carrying value of these derivatives and commitments was a net asset of $ 75 million as of december 2018 and $ 86 million as of december 2017 , and the notional amount of these derivatives and commitments was $ 1.09 billion as of december 2018 and $ 1.26 billion as of december 2017 .the notional amounts of these derivatives and commitments are included in maximum exposure to loss in the nonconsolidated vie table in note 12 .the table below presents information about the weighted average key economic assumptions used in measuring the fair value of mortgage-backed retained interests. .
[['$ in millions', 'as of december 2018', 'as of december 2017'], ['fair value of retained interests', '$ 3151', '$ 2071'], ['weighted average life ( years )', '7.2', '6.0'], ['constant prepayment rate', '11.9% ( 11.9 % )', '9.4% ( 9.4 % )'], ['impact of 10% ( 10 % ) adverse change', '$ -27 ( 27 )', '$ -19 ( 19 )'], ['impact of 20% ( 20 % ) adverse change', '$ -53 ( 53 )', '$ -35 ( 35 )'], ['discount rate', '4.7% ( 4.7 % )', '4.2% ( 4.2 % )'], ['impact of 10% ( 10 % ) adverse change', '$ -75 ( 75 )', '$ -35 ( 35 )'], ['impact of 20% ( 20 % ) adverse change', '$ -147 ( 147 )', '$ -70 ( 70 )']]
in the table above : 2030 amounts do not reflect the benefit of other financial instruments that are held to mitigate risks inherent in these retained interests .2030 changes in fair value based on an adverse variation in assumptions generally cannot be extrapolated because the relationship of the change in assumptions to the change in fair value is not usually linear .2030 the impact of a change in a particular assumption is calculated independently of changes in any other assumption .in practice , simultaneous changes in assumptions might magnify or counteract the sensitivities disclosed above .2030 the constant prepayment rate is included only for positions for which it is a key assumption in the determination of fair value .2030 the discount rate for retained interests that relate to u.s .government agency-issued collateralized mortgage obligations does not include any credit loss .expected credit loss assumptions are reflected in the discount rate for the remainder of retained interests .the firm has other retained interests not reflected in the table above with a fair value of $ 133 million and a weighted average life of 4.2 years as of december 2018 , and a fair value of $ 56 million and a weighted average life of 4.5 years as of december 2017 .due to the nature and fair value of certain of these retained interests , the weighted average assumptions for constant prepayment and discount rates and the related sensitivity to adverse changes are not meaningful as of both december 2018 and december 2017 .the firm 2019s maximum exposure to adverse changes in the value of these interests is the carrying value of $ 133 million as of december 2018 and $ 56 million as of december 2017 .note 12 .variable interest entities a variable interest in a vie is an investment ( e.g. , debt or equity ) or other interest ( e.g. , derivatives or loans and lending commitments ) that will absorb portions of the vie 2019s expected losses and/or receive portions of the vie 2019s expected residual returns .the firm 2019s variable interests in vies include senior and subordinated debt ; loans and lending commitments ; limited and general partnership interests ; preferred and common equity ; derivatives that may include foreign currency , equity and/or credit risk ; guarantees ; and certain of the fees the firm receives from investment funds .certain interest rate , foreign currency and credit derivatives the firm enters into with vies are not variable interests because they create , rather than absorb , risk .vies generally finance the purchase of assets by issuing debt and equity securities that are either collateralized by or indexed to the assets held by the vie .the debt and equity securities issued by a vie may include tranches of varying levels of subordination .the firm 2019s involvement with vies includes securitization of financial assets , as described in note 11 , and investments in and loans to other types of vies , as described below .see note 11 for further information about securitization activities , including the definition of beneficial interests .see note 3 for the firm 2019s consolidation policies , including the definition of a vie .goldman sachs 2018 form 10-k 149 .
|
what was the change in the weighted average life ( years ) as of december 2018 and december 2017?\\n
|
1.2
|
{
"answer": "1.2",
"decimal": 1.2,
"type": "float"
}
| |
gain on business divestitures and impairments , net we strive to have a number one or number two market position in each of the markets we serve , or have a clear path on how we will achieve a leading market position over time .where we cannot establish a leading market position , or where operations are not generating acceptable returns , we may decide to divest certain assets and reallocate resources to other markets .asset or business divestitures could result in gains , losses or asset impairment charges that may be material to our results of operations in a given period .during 2018 , we recorded a net gain on business divestitures , net of asset impairments of $ 44.9 million .during 2017 , we recorded a net gain on business divestitures , net of asset impairments of $ 27.1 million .we also recorded a gain on business divestitures of $ 6.8 million due to the transfer of ownership of the landfill gas collection and control system and the remaining post-closure and environmental liabilities associated with one of our divested landfills .during 2016 , we recorded a charge to earnings of $ 4.6 million primarily related to environmental costs associated with one of our divested landfills .during 2016 , we also recorded a net gain related to a business divestiture of $ 4.7 million .restructuring charges in january 2018 , we eliminated certain positions following the consolidation of select back-office functions , including but not limited to the integration of our national accounts support functions into our existing corporate support functions .these changes include a reduction in administrative staffing and the closure of certain office locations .during 2018 , we incurred restructuring charges of $ 26.4 million that primarily consisted of severance and other employee termination benefits , the closure of offices with non-cancelable lease agreements , and the redesign of our back-office functions and upgrades to certain of our software systems .we paid $ 24.7 million during 2018 related to these restructuring efforts .in january 2016 , we realigned our field support functions by combining our three regions into two field groups , consolidating our areas and streamlining select operational support roles at our phoenix headquarters .additionally , in the second quarter of 2016 , we began the redesign of our back-office functions as well as the consolidation of over 100 customer service locations into three customer resource centers .the redesign of our back-office functions and upgrades to certain of our software systems continued into 2018 .during the years ended december 31 , 2017 and 2016 , we incurred $ 17.6 million and $ 40.7 million of restructuring charges , respectively , that primarily consisted of severance and other employee termination benefits , transition costs , relocation benefits , and the closure of offices with lease agreements with non-cancelable terms .the savings realized from these restructuring efforts have been reinvested in our customer-focused programs and initiatives .interest expense the following table provides the components of interest expense , including accretion of debt discounts and accretion of discounts primarily associated with environmental and risk insurance liabilities assumed in acquisitions ( in millions of dollars ) : .
[['', '2018', '2017', '2016'], ['interest expense on debt and capital lease obligations', '$ 349.4', '$ 324.8', '$ 324.1'], ['non-cash interest', '41.2', '43.6', '53.4'], ['less : capitalized interest', '-6.8 ( 6.8 )', '-6.5 ( 6.5 )', '-6.2 ( 6.2 )'], ['total interest expense', '$ 383.8', '$ 361.9', '$ 371.3']]
total interest expense for 2018 increased compared to 2017 primarily due to the increase in debt outstanding during the period and higher interest rates on floating rate debt .total interest expense for 2017 decreased .
|
what was the growth in the interest expense on debt and capital lease obligations from 2017 to 2018
|
7.6%
|
{
"answer": "7.6%",
"decimal": 0.076,
"type": "percentage"
}
|
the growth is based on the subtraction of the current from the prior period amount divide by the prior period
|
management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) corporate and other expenses decreased slightly during 2012 by $ 4.7 to $ 137.3 compared to 2011 , primarily due to lower office and general expenses , partially offset by an increase in temporary help to support our information-technology system-upgrade initiatives .liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity , capital resources and uses of capital. .
[['cash flow data', 'years ended december 31 , 2013', 'years ended december 31 , 2012', 'years ended december 31 , 2011'], ['net income adjusted to reconcile net income to net cashprovided by operating activities1', '$ 598.4', '$ 697.2', '$ 735.7'], ['net cash used in working capital b2', '-9.6 ( 9.6 )', '-293.2 ( 293.2 )', '-359.4 ( 359.4 )'], ['changes in other non-current assets and liabilities using cash', '4.1', '-46.8 ( 46.8 )', '-102.8 ( 102.8 )'], ['net cash provided by operating activities', '$ 592.9', '$ 357.2', '$ 273.5'], ['net cash used in investing activities', '-224.5 ( 224.5 )', '-210.2 ( 210.2 )', '-58.8 ( 58.8 )'], ['net cash ( used in ) provided by financing activities', '-1212.3 ( 1212.3 )', '131.3', '-541.0 ( 541.0 )']]
1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets , amortization of restricted stock and other non-cash compensation , non-cash loss related to early extinguishment of debt , and deferred income taxes .2 reflects changes in accounts receivable , expenditures billable to clients , other current assets , accounts payable and accrued liabilities .operating activities net cash provided by operating activities during 2013 was $ 592.9 , which was an increase of $ 235.7 as compared to 2012 , primarily as a result of an improvement in working capital usage of $ 283.6 , offset by a decrease in net income .due to the seasonality of our business , we typically generate cash from working capital in the second half of a year and use cash from working capital in the first half of a year , with the largest impacts in the first and fourth quarters .the improvement in working capital in 2013 was impacted by our media businesses and an ongoing focus on working capital management at our agencies .net cash provided by operating activities during 2012 was $ 357.2 , which was an increase of $ 83.7 as compared to 2011 , primarily as a result of a decrease in working capital usage of $ 66.2 .the net working capital usage in 2012 was primarily impacted by our media businesses .the timing of media buying on behalf of our clients affects our working capital and operating cash flow .in most of our businesses , our agencies enter into commitments to pay production and media costs on behalf of clients .to the extent possible we pay production and media charges after we have received funds from our clients .the amounts involved substantially exceed our revenues , and primarily affect the level of accounts receivable , expenditures billable to clients , accounts payable and accrued liabilities .our assets include both cash received and accounts receivable from clients for these pass-through arrangements , while our liabilities include amounts owed on behalf of clients to media and production suppliers .our accrued liabilities are also affected by the timing of certain other payments .for example , while annual cash incentive awards are accrued throughout the year , they are generally paid during the first quarter of the subsequent year .investing activities net cash used in investing activities during 2013 primarily relates to payments for capital expenditures and acquisitions .capital expenditures of $ 173.0 relate primarily to computer hardware and software and leasehold improvements .we made payments of $ 61.5 related to acquisitions completed during 2013. .
|
for net cash provided by operating activities in 2013 , how much was lost due to the decrease in net income?
|
$ 47.9 million
|
{
"answer": "$ 47.9 million",
"decimal": 47900000,
"type": "money"
}
|
to figure out the decrease in net income , one must take total change without net income and subtract it by the change between the years . this should give you $ 47.9 million .
|
the goldman sachs group , inc .and subsidiaries management 2019s discussion and analysis other principal transactions revenues in the consolidated statements of earnings were $ 3.20 billion for 2016 , 36% ( 36 % ) lower than 2015 , primarily due to significantly lower revenues from investments in equities , primarily reflecting a significant decrease in net gains from private equities , driven by company-specific events and corporate performance .in addition , revenues in debt securities and loans were significantly lower compared with 2015 , reflecting significantly lower revenues related to relationship lending activities , due to the impact of changes in credit spreads on economic hedges .losses related to these hedges were $ 596 million in 2016 , compared with gains of $ 329 million in 2015 .this decrease was partially offset by higher net gains from investments in debt instruments .see note 9 to the consolidated financial statements for further information about economic hedges related to our relationship lending activities .net interest income .net interest income in the consolidated statements of earnings was $ 2.59 billion for 2016 , 16% ( 16 % ) lower than 2015 , reflecting an increase in interest expense primarily due to the impact of higher interest rates on other interest-bearing liabilities , interest- bearing deposits and collateralized financings , and increases in total average long-term borrowings and total average interest-bearing deposits .the increase in interest expense was partially offset by higher interest income related to collateralized agreements , reflecting the impact of higher interest rates , and loans receivable , reflecting an increase in total average balances and the impact of higher interest rates .see 201cstatistical disclosures 2014 distribution of assets , liabilities and shareholders 2019 equity 201d for further information about our sources of net interest income .operating expenses our operating expenses are primarily influenced by compensation , headcount and levels of business activity .compensation and benefits includes salaries , discretionary compensation , amortization of equity awards and other items such as benefits .discretionary compensation is significantly impacted by , among other factors , the level of net revenues , overall financial performance , prevailing labor markets , business mix , the structure of our share- based compensation programs and the external environment .in addition , see 201cuse of estimates 201d for further information about expenses that may arise from litigation and regulatory proceedings .in the context of the challenging environment , we completed an initiative during 2016 that identified areas where we can operate more efficiently , resulting in a reduction of approximately $ 900 million in annual run rate compensation .for 2016 , net savings from this initiative , after severance and other related costs , were approximately $ 500 million .the table below presents our operating expenses and total staff ( including employees , consultants and temporary staff ) . .
[['$ in millions', 'year ended december 2017', 'year ended december 2016', 'year ended december 2015'], ['compensation and benefits', '$ 11853', '$ 11647', '$ 12678'], ['brokerage clearing exchangeand distribution fees', '2540', '2555', '2576'], ['market development', '588', '457', '557'], ['communications and technology', '897', '809', '806'], ['depreciation and amortization', '1152', '998', '991'], ['occupancy', '733', '788', '772'], ['professional fees', '965', '882', '963'], ['other expenses', '2213', '2168', '5699'], ['totalnon-compensationexpenses', '9088', '8657', '12364'], ['total operating expenses', '$ 20941', '$ 20304', '$ 25042'], ['total staff atperiod-end', '36600', '34400', '36800']]
in the table above , other expenses for 2015 included $ 3.37 billion recorded for the settlement agreement with the rmbs working group .see note 27 to the consolidated financial statements in part ii , item 8 of our annual report on form 10-k for the year ended december 31 , 2015 for further information .2017 versus 2016 .operating expenses in the consolidated statements of earnings were $ 20.94 billion for 2017 , 3% ( 3 % ) higher than 2016 .compensation and benefits expenses in the consolidated statements of earnings were $ 11.85 billion for 2017 , 2% ( 2 % ) higher than 2016 .the ratio of compensation and benefits to net revenues for 2017 was 37.0% ( 37.0 % ) compared with 38.1% ( 38.1 % ) for 2016 .non-compensation expenses in the consolidated statements of earnings were $ 9.09 billion for 2017 , 5% ( 5 % ) higher than 2016 , primarily driven by our investments to fund growth .the increase compared with 2016 reflected higher expenses related to consolidated investments and our digital lending and deposit platform , marcus : by goldman sachs ( marcus ) .these increases were primarily included in depreciation and amortization expenses , market development expenses and other expenses .in addition , technology expenses increased , reflecting higher expenses related to cloud-based services and software depreciation , and professional fees increased , primarily related to consulting costs .these increases were partially offset by lower net provisions for litigation and regulatory proceedings , and lower occupancy expenses ( primarily related to exit costs in 2016 ) .net provisions for litigation and regulatory proceedings for 2017 were $ 188 million compared with $ 396 million for 2016 .2017 included a $ 127 million charitable contribution to goldman sachs gives , our donor-advised fund .compensation was reduced to fund this charitable contribution to goldman sachs gives .we ask our participating managing directors to make recommendations regarding potential charitable recipients for this contribution .54 goldman sachs 2017 form 10-k .
|
what portion of total operating expenses is related to compensation and benefits in 2017?
|
56.6%
|
{
"answer": "56.6%",
"decimal": 0.5660000000000001,
"type": "percentage"
}
| |
morgan stanley notes to consolidated financial statements 2014 ( continued ) 16 .shareholders 2019 equity .common stock .changes in shares of common stock outstanding for fiscal 2007 and fiscal 2006 were as follows ( share data in millions ) : fiscal fiscal .
[['', 'fiscal 2007', 'fiscal 2006'], ['shares outstanding at beginning of period', '1049', '1058'], ['net impact of stock option exercises and other share issuances', '59', '43'], ['treasury stock purchases', '-52 ( 52 )', '-52 ( 52 )'], ['shares outstanding at end of period', '1056', '1049']]
treasury shares .during fiscal 2007 , the company purchased $ 3.8 billion of its common stock through open market purchases at an average cost of $ 72.65 per share .during fiscal 2006 , the company purchased $ 3.4 billion of its common stock through open market purchases at an average cost of $ 65.43 per share .in december 2006 , the company announced that its board of directors had authorized the repurchase of up to $ 6 billion of the company 2019s outstanding common stock .this share repurchase authorization considers , among other things , business segment capital needs , as well as equity-based compensation and benefit plan requirements .as of november 30 , 2007 , the company had approximately $ 2.3 billion remaining under its current share repurchase authorization .rabbi trusts .the company has established rabbi trusts ( the 201crabbi trusts 201d ) to provide common stock voting rights to certain employees who hold outstanding restricted stock units .the number of shares of common stock outstanding in the rabbi trusts was approximately 107 million at november 30 , 2007 and approximately 81 million at november 30 , 2006 .the assets of the rabbi trusts are consolidated with those of the company , and the value of the company 2019s stock held in the rabbi trusts is classified in shareholders 2019 equity and generally accounted for in a manner similar to treasury stock .preferred stock .in july 2006 , the company issued 44000000 depositary shares , in an aggregate of $ 1100 million .each depositary share represents 1/1000th of a share of floating rate non-cumulative preferred stock , series a , $ 0.01 par value ( 201cseries a preferred stock 201d ) .the series a preferred stock is redeemable at the company 2019s option , in whole or in part , on or after july 15 , 2011 at a redemption price of $ 25000 per share ( equivalent to $ 25 per depositary share ) .the series a preferred stock also has a preference over the company 2019s common stock upon liquidation .subsequent to fiscal year-end , the company declared a quarterly dividend of $ 379.66 per share of series a preferred stock that was paid on january 15 , 2008 to preferred shareholders of record on december 31 , 2007 .regulatory requirements .on april 1 , 2007 , the company merged msdwi into ms&co .upon completion of the merger , the surviving entity , ms&co. , became the company 2019s principal u.s .broker-dealer .ms&co .is a registered broker-dealer and registered futures commission merchant and , accordingly , is subject to the minimum net capital requirements of the securities and exchange commission ( the 201csec 201d ) , the financial industry regulatory authority and the commodity futures trading commission .ms&co .has consistently operated in excess of these requirements .ms&co . 2019s net capital totaled $ 6673 million at november 30 , 2007 , which exceeded the amount required by $ 4950 million .msip , a london-based broker-dealer subsidiary , is subject to the capital requirements of the financial services authority , and msjs , a tokyo-based broker-dealer subsidiary , is subject to the capital requirements of the financial services agency .msip and msjs consistently operated in excess of their respective regulatory capital requirements. .
|
what was the net change in common stock outstanding in millions between 2006 and 2007?
|
7
|
{
"answer": "7",
"decimal": 7,
"type": "float"
}
| |
which , $ 44.9 million , or $ 38.2 million , net of taxes , is expected to be reclassified to earnings over the next twelve months .we also enter into foreign currency forward exchange contracts with terms of one month to manage currency exposures for assets and liabilities denominated in a currency other than an entity 2019s functional currency .as a result , any foreign currency translation gains/losses recognized in earnings under sfas no .52 , 201cforeign currency translation 201d are generally offset with gains/losses on the foreign currency forward exchange contracts in the same reporting period .other comprehensive income 2013 other comprehensive income refers to revenues , expenses , gains and losses that under generally accepted accounting principles are included in comprehensive income but are excluded from net earnings as these amounts are recorded directly as an adjustment to stockholders 2019 equity .other comprehensive income is comprised of foreign currency translation adjustments , unrealized foreign currency hedge gains and losses , unrealized gains and losses on available-for-sale securities and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions .the components of accumulated other comprehensive income are as follows ( in millions ) : balance at december 31 , comprehensive income ( loss ) balance at december 31 .
[['', 'balance at december 31 2006', 'other comprehensive income ( loss )', 'balance at december 31 2007'], ['foreign currency translation', '$ 267.7', '$ 101.1', '$ 368.8'], ['foreign currency hedges', '-22.6 ( 22.6 )', '-22.8 ( 22.8 )', '-45.4 ( 45.4 )'], ['unrealized gains ( losses ) on securities', '-0.5 ( 0.5 )', '-1.4 ( 1.4 )', '-1.9 ( 1.9 )'], ['unrecognized prior service cost and unrecognized ( gain ) / loss in actuarial assumptions', '-35.4 ( 35.4 )', '4.2', '-31.2 ( 31.2 )'], ['accumulated other comprehensive income', '$ 209.2', '$ 81.1', '$ 290.3']]
treasury stock 2013 we account for repurchases of common stock under the cost method and present treasury stock as a reduction of shareholders equity .we may reissue common stock held in treasury only for limited purposes .accounting pronouncements 2013 in june 2006 , the fasb issued interpretation no .48 , 201caccounting for uncertainty in income taxes , an interpretation of fas 109 , accounting for income taxes 201d ( fin 48 ) , to create a single model to address accounting for uncertainty in tax positions .see our income tax disclosures in note 11 for more information regarding the adoption of fin 48 .in september 2006 , the fasb issued sfas no .158 , 201cemployers 2019 accounting for defined benefit pension and other postretirement plans 2013 an amendment of fasb statements no .87 , 88 , 106 and 132 ( r ) . 201d this statement requires recognition of the funded status of a benefit plan in the statement of financial position .sfas no .158 also requires recognition in other comprehensive income of certain gains and losses that arise during the period but are deferred under pension accounting rules , as well as modifies the timing of reporting and adds certain disclosures .the statement provides recognition and disclosure elements to be effective as of the end of the fiscal year after december 15 , 2006 and measurement elements to be effective for fiscal years ending after december 15 , 2008 .we adopted sfas no .158 on december 31 , 2006 .see our pension and other postretirement disclosures in note 10 .in december 2004 , the fasb issued sfas no .123 ( r ) , 201cshare-based payment 201d , which is a revision to sfas no .123 .sfas 123 ( r ) requires all share-based payments to employees , including stock options , to be expensed based on their fair values .we adopted sfas 123 ( r ) on january 1 , 2006 using the modified prospective method and did not restate prior periods .in september 2006 , the fasb issued sfas no .157 , 201cfair value measurements 201d , which defines fair value , establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements .this statement does not require any new fair value measurements , but provides guidance on how to measure fair value by providing a fair value hierarchy used to classify the source of the information .sfas no .157 is effective for financial statements issued for fiscal years beginning after november 15 , 2007 and interim periods within those fiscal years .in february 2008 , the fasb issued fasb staff position ( fsp ) no .sfas 157-2 , which delays the effective date of certain provisions of sfas no .157 relating to non-financial assets and liabilities measured at fair value on a non-recurring basis until fiscal years beginning after november 15 , 2008 .the adoption of sfas no .157 is not expected to have a material impact on our consolidated financial statements or results of operations .in february 2007 , the fasb issued sfas no .159 , 201cthe fair value option for financial assets and financial liabilities 2013 including an amendment of fasb statement no .115 201d ( sfas no .159 ) .sfas no .159 creates a 201cfair value option 201d under which an entity may elect to record certain financial assets or liabilities at fair value upon their initial recognition .subsequent changes in fair value would be recognized in earnings as those changes occur .the election of the fair value option would be made on a contract-by-contract basis and would need to be supported by concurrent documentation or a preexisting documented policy .sfas no .159 requires an entity to separately disclose the fair 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 is the change in percentage of accumulated other comprehensive income from 2006 to 2007?
|
39%
|
{
"answer": "39%",
"decimal": 0.39,
"type": "percentage"
}
| |
bhge 2018 form 10-k | 85 it is expected that the amount of unrecognized tax benefits will change in the next twelve months due to expiring statutes , audit activity , tax payments , and competent authority proceedings related to transfer pricing or final decisions in matters that are the subject of litigation in various taxing jurisdictions in which we operate .at december 31 , 2018 , we had approximately $ 96 million of tax liabilities , net of $ 1 million of tax assets , related to uncertain tax positions , each of which are individually insignificant , and each of which are reasonably possible of being settled within the next twelve months .we conduct business in more than 120 countries and are subject to income taxes in most taxing jurisdictions in which we operate .all internal revenue service examinations have been completed and closed through year end 2015 for the most significant u.s .returns .we believe there are no other jurisdictions in which the outcome of unresolved issues or claims is likely to be material to our results of operations , financial position or cash flows .we further believe that we have made adequate provision for all income tax uncertainties .note 13 .stock-based compensation in july 2017 , we adopted the bhge 2017 long-term incentive plan ( lti plan ) under which we may grant stock options and other equity-based awards to employees and non-employee directors providing services to the company and our subsidiaries .a total of up to 57.4 million shares of class a common stock are authorized for issuance pursuant to awards granted under the lti plan over its term which expires on the date of the annual meeting of the company in 2027 .a total of 46.2 million shares of class a common stock are available for issuance as of december 31 , 2018 .stock-based compensation cost was $ 121 million and $ 37 million in 2018 and 2017 , respectively .stock-based compensation cost is measured at the date of grant based on the calculated fair value of the award and is generally recognized on a straight-line basis over the vesting period of the equity grant .the compensation cost is determined based on awards ultimately expected to vest ; therefore , we have reduced the cost for estimated forfeitures based on historical forfeiture rates .forfeitures are estimated at the time of grant and revised , if necessary , in subsequent periods to reflect actual forfeitures .there were no stock-based compensation costs capitalized as the amounts were not material .stock options we may grant stock options to our officers , directors and key employees .stock options generally vest in equal amounts over a three-year vesting period provided that the employee has remained continuously employed by the company through such vesting date .the fair value of each stock option granted is estimated using the black- scholes option pricing model .the following table presents the weighted average assumptions used in the option pricing model for options granted under the lti plan .the expected life of the options represents the period of time the options are expected to be outstanding .the expected life is based on a simple average of the vesting term and original contractual term of the awards .the expected volatility is based on the historical volatility of our five main competitors over a six year period .the risk-free interest rate is based on the observed u.s .treasury yield curve in effect at the time the options were granted .the dividend yield is based on a five year history of dividend payouts in baker hughes. .
[['', '2018', '2017'], ['expected life ( years )', '6', '6'], ['risk-free interest rate', '2.5% ( 2.5 % )', '2.1% ( 2.1 % )'], ['volatility', '33.7% ( 33.7 % )', '36.4% ( 36.4 % )'], ['dividend yield', '2% ( 2 % )', '1.2% ( 1.2 % )'], ['weighted average fair value per share at grant date', '$ 10.34', '$ 12.32']]
baker hughes , a ge company notes to consolidated and combined financial statements .
|
what is the percent change in weighted average fair value per share at grant date from 2017 to 2018?
|
19.2%
|
{
"answer": "19.2%",
"decimal": 0.192,
"type": "percentage"
}
| |
shares of common stock issued , in treasury , and outstanding were ( in thousands of shares ) : .
[['', 'shares issued', 'treasury shares', 'shares outstanding'], ['balance at december 29 2013', '376832', '2014', '376832'], ['exercise of stock options issuance of other stock awards and other', '178', '2014', '178'], ['balance at december 28 2014', '377010', '2014', '377010'], ['exercise of warrants', '20480', '2014', '20480'], ['issuance of common stock to sponsors', '221666', '2014', '221666'], ['acquisition of kraft foods group inc .', '592898', '2014', '592898'], ['exercise of stock options issuance of other stock awards and other', '2338', '-413 ( 413 )', '1925'], ['balance at january 3 2016', '1214392', '-413 ( 413 )', '1213979'], ['exercise of stock options issuance of other stock awards and other', '4555', '-2058 ( 2058 )', '2497'], ['balance at december 31 2016', '1218947', '-2471 ( 2471 )', '1216476']]
note 13 .financing arrangements we routinely enter into accounts receivable securitization and factoring programs .we account for transfers of receivables pursuant to these programs as a sale and remove them from our consolidated balance sheet .at december 31 , 2016 , our most significant program in place was the u.s .securitization program , which was amended in may 2016 and originally entered into in october of 2015 .under the program , we are entitled to receive cash consideration of up to $ 800 million ( which we elected to reduce to $ 500 million , effective february 21 , 2017 ) and a receivable for the remainder of the purchase price ( the 201cdeferred purchase price 201d ) .this securitization program utilizes a bankruptcy- remote special-purpose entity ( 201cspe 201d ) .the spe is wholly-owned by a subsidiary of kraft heinz and its sole business consists of the purchase or acceptance , through capital contributions of receivables and related assets , from a kraft heinz subsidiary and subsequent transfer of such receivables and related assets to a bank .although the spe is included in our consolidated financial statements , it is a separate legal entity with separate creditors who will be entitled , upon its liquidation , to be satisfied out of the spe's assets prior to any assets or value in the spe becoming available to kraft heinz or its subsidiaries .the assets of the spe are not available to pay creditors of kraft heinz or its subsidiaries .this program expires in may 2017 .in addition to the u.s .securitization program , we have accounts receivable factoring programs denominated in australian dollars , new zealand dollars , british pound sterling , euros , and japanese yen .under these programs , we generally receive cash consideration up to a certain limit and a receivable for the deferred purchase price .there is no deferred purchase price associated with the japanese yen contract .related to these programs , our aggregate cash consideration limit , after applying applicable hold-backs , was $ 245 million u.s .dollars at december 31 , 2016 .generally , each of these programs automatically renews annually until terminated by either party .the cash consideration and carrying amount of receivables removed from the consolidated balance sheets in connection with the above programs were $ 904 million at december 31 , 2016 and $ 267 million at january 3 , 2016 .the fair value of the deferred purchase price for the programs was $ 129 million at december 31 , 2016 and $ 583 million at january 3 , 2016 .the deferred purchase price is included in sold receivables on the consolidated balance sheets and had a carrying value which approximated its fair value at december 31 , 2016 and january 3 , 2016 .the proceeds from these sales are recognized on the consolidated statements of cash flows as a component of operating activities .we act as servicer for these arrangements and have not recorded any servicing assets or liabilities for these arrangements as of december 31 , 2016 and january 3 , 2016 because they were not material to the financial statements. .
|
what portion of the issued shares is reported as treasury stock as of december 31 , 2016?
|
0.2%
|
{
"answer": "0.2%",
"decimal": 0.002,
"type": "percentage"
}
| |
in 2017 , cash flows provided by operations increased $ 160 million , primarily due to an increase in net income after non-cash adjustments , including the impact of the enactment of the tcja , and an increase in cash flows from working capital .the main factors contributing to the net income increase are described in the 201cconsolidated results of operations 201d section and include higher operating revenues , partially offset by higher income taxes due to a $ 125 million re-measurement charge resulting from the impact of the change in the federal tax rate on the company 2019s deferred income taxes from the enactment of the tcja .the increase in non-cash activities was mainly attributable to the increase in deferred income taxes , as mentioned above , and an increase in depreciation and amortization due to additional utility plant placed in service .the change in working capital was principally due to ( i ) the timing of accounts payable and accrued liabilities , including the accrual recorded during 2016 for the binding global agreement in principle to settle claims associated with the freedom industries chemical spill in west virginia , ( ii ) a decrease in unbilled revenues as a result of our military services group achieving significant capital project milestones during 2016 , and ( iii ) a change in other current assets and liabilities , including the decrease in other current assets associated with the termination of our four forward starting swap agreements and timing of payments clearing our cash accounts .the company expects to make pension contributions to the plan trusts of up to $ 31 million in 2019 .in addition , we estimate that contributions will amount to $ 32 million , $ 29 million , $ 29 million and $ 29 million in 2020 , 2021 , 2022 and 2023 , respectively .actual amounts contributed could change materially from these estimates as a result of changes in assumptions and actual investment returns , among other factors .cash flows used in investing activities the following table provides a summary of the major items affecting our cash flows used in investing activities: .
[['( in millions )', 'for the years ended december 31 , 2018', 'for the years ended december 31 , 2017', 'for the years ended december 31 , 2016'], ['net capital expenditures', '$ -1586 ( 1586 )', '$ -1434 ( 1434 )', '$ -1311 ( 1311 )'], ['acquisitions', '-398 ( 398 )', '-177 ( 177 )', '-204 ( 204 )'], ['other investing activities net ( a )', '-52 ( 52 )', '-61 ( 61 )', '-75 ( 75 )'], ['net cash flows used in investing activities', '$ -2036 ( 2036 )', '$ -1672 ( 1672 )', '$ -1590 ( 1590 )']]
( a ) includes removal costs from property , plant and equipment retirements and proceeds from sale of assets .in 2018 and 2017 , cash flows used in investing activities increased primarily due to an increase in our regulated capital expenditures , principally from incremental investments associated with the replacement and renewal of our transmission and distribution infrastructure in our regulated businesses , as well as acquisitions in both our regulated businesses and market-based businesses , as discussed below .our infrastructure investment plan consists of both infrastructure renewal programs , where we replace infrastructure , as needed , and major capital investment projects , where we construct new water and wastewater treatment and delivery facilities to meet new customer growth and water quality regulations .our projected capital expenditures and other investments are subject to periodic review and revision to reflect changes in economic conditions and other factors. .
|
in 2018 , what percentage of cash flows used in investing activities composed of acquisitions?
|
19.5
|
{
"answer": "19.5",
"decimal": 19.5,
"type": "float"
}
| |
the following is a schedule of future minimum rental payments required under long-term operating leases at october 30 , 2010 : fiscal years operating leases .
[['fiscal years', 'operating leases'], ['2011', '$ 21871'], ['2012', '12322'], ['2013', '9078'], ['2014', '6381'], ['2015', '5422'], ['later years', '30655'], ['total', '$ 85729']]
12 .commitments and contingencies from time to time in the ordinary course of the company 2019s business , various claims , charges and litigation are asserted or commenced against the company arising from , or related to , contractual matters , patents , trademarks , personal injury , environmental matters , product liability , insurance coverage and personnel and employment disputes .as to such claims and litigation , the company can give no assurance that it will prevail .the company does not believe that any current legal matters will have a material adverse effect on the company 2019s financial position , results of operations or cash flows .13 .retirement plans the company and its subsidiaries have various savings and retirement plans covering substantially all employees .the company maintains a defined contribution plan for the benefit of its eligible u.s .employees .this plan provides for company contributions of up to 5% ( 5 % ) of each participant 2019s total eligible compensation .in addition , the company contributes an amount equal to each participant 2019s pre-tax contribution , if any , up to a maximum of 3% ( 3 % ) of each participant 2019s total eligible compensation .the total expense related to the defined contribution plan for u.s .employees was $ 20.5 million in fiscal 2010 , $ 21.5 million in fiscal 2009 and $ 22.6 million in fiscal 2008 .the company also has various defined benefit pension and other retirement plans for certain non-u.s .employees that are consistent with local statutory requirements and practices .the total expense related to the various defined benefit pension and other retirement plans for certain non-u.s .employees was $ 11.7 million in fiscal 2010 , $ 10.9 million in fiscal 2009 and $ 13.9 million in fiscal 2008 .during fiscal 2009 , the measurement date of the plan 2019s funded status was changed from september 30 to the company 2019s fiscal year end .non-u.s .plan disclosures the company 2019s funding policy for its foreign defined benefit pension plans is consistent with the local requirements of each country .the plans 2019 assets consist primarily of u.s .and non-u.s .equity securities , bonds , property and cash .the benefit obligations and related assets under these plans have been measured at october 30 , 2010 and october 31 , 2009 .analog devices , inc .notes to consolidated financial statements 2014 ( continued ) .
|
what is the percentage change in the total expense related to the defined contribution plan for u.s employees in 2010?
|
-4.7%
|
{
"answer": "-4.7%",
"decimal": -0.047,
"type": "percentage"
}
| |
management 2019s discussion and analysis sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure .the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the underlying asset value .the table below presents market risk for positions that are not included in var .these measures do not reflect diversification benefits across asset categories and therefore have not been aggregated .asset categories 10% ( 10 % ) sensitivity amount as of december in millions 2012 2011 .
[['asset categories', 'asset categories', ''], ['in millions', '2012', '2011'], ['icbc', '$ 208', '$ 212'], ['equity ( excluding icbc ) 1', '2263', '2458'], ['debt2', '1676', '1521']]
equity ( excluding icbc ) 1 2263 2458 debt 2 1676 1521 1 .relates to private and restricted public equity securities , including interests in firm-sponsored funds that invest in corporate equities and real estate and interests in firm-sponsored hedge funds .2 .primarily relates to interests in our firm-sponsored funds that invest in corporate mezzanine and senior debt instruments .also includes loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans .var excludes the impact of changes in counterparty and our own credit spreads on derivatives as well as changes in our own credit spreads on unsecured borrowings for which the fair value option was elected .the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a $ 3 million gain ( including hedges ) as of december 2012 .in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on unsecured borrowings for which the fair value option was elected was a $ 7 million gain ( including hedges ) as of december 2012 .however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those unsecured borrowings for which the fair value option was elected , as well as the relative performance of any hedges undertaken .the firm engages in insurance activities where we reinsure and purchase portfolios of insurance risk and pension liabilities .the risks associated with these activities include , but are not limited to : equity price , interest rate , reinvestment and mortality risk .the firm mitigates risks associated with insurance activities through the use of reinsurance and hedging .certain of the assets associated with the firm 2019s insurance activities are included in var .in addition to the positions included in var , we held $ 9.07 billion of securities accounted for as available-for- sale as of december 2012 , which support the firm 2019s reinsurance business .as of december 2012 , our available- for-sale securities primarily consisted of $ 3.63 billion of corporate debt securities with an average yield of 4% ( 4 % ) , the majority of which will mature after five years , $ 3.38 billion of mortgage and other asset-backed loans and securities with an average yield of 6% ( 6 % ) , the majority of which will mature after ten years , and $ 856 million of u.s .government and federal agency obligations with an average yield of 3% ( 3 % ) , the majority of which will mature after five years .as of december 2012 , such assets were classified as held for sale and were included in 201cother assets . 201d see note 12 to the consolidated financial statements for further information about assets held for sale .as of december 2011 , we held $ 4.86 billion of securities accounted for as available-for-sale , primarily consisting of $ 1.81 billion of corporate debt securities with an average yield of 5% ( 5 % ) , the majority of which will mature after five years , $ 1.42 billion of mortgage and other asset-backed loans and securities with an average yield of 10% ( 10 % ) , the majority of which will mature after ten years , and $ 662 million of u.s .government and federal agency obligations with an average yield of 3% ( 3 % ) , the majority of which will mature after ten years .in addition , as of december 2012 and december 2011 , we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group , inc .see note 18 to the consolidated financial statements for further information about such lending commitments .as of december 2012 , the firm also had $ 6.50 billion of loans held for investment which were accounted for at amortized cost and included in 201creceivables from customers and counterparties , 201d substantially all of which had floating interest rates .the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 62 million of additional interest income over a 12-month period , which does not take into account the potential impact of an increase in costs to fund such loans .see note 8 to the consolidated financial statements for further information about loans held for investment .additionally , we make investments accounted for under the equity method and we also make direct investments in real estate , both of which are included in 201cother assets 201d in the consolidated statements of financial condition .direct investments in real estate are accounted for at cost less accumulated depreciation .see note 12 to the consolidated financial statements for information on 201cother assets . 201d goldman sachs 2012 annual report 93 .
|
as of december 2012 , what percentage of available- for-sale securities was comprised of mortgage and other asset-backed loans and securities?
|
43%
|
{
"answer": "43%",
"decimal": 0.43,
"type": "percentage"
}
| |
table of contents .
[['assumptions used in monte carlo lattice pricing model', 'year ended december 31 , 2016', 'year ended december 31 , 2015', 'year ended december 31 , 2014'], ['risk-free interest rate', '1.0% ( 1.0 % )', '1.1% ( 1.1 % )', '0.7% ( 0.7 % )'], ['expected dividend yield', '2014% ( 2014 % )', '2014% ( 2014 % )', '2014% ( 2014 % )'], ['expected volatility 2014ansys stock price', '21% ( 21 % )', '23% ( 23 % )', '25% ( 25 % )'], ['expected volatility 2014nasdaq composite index', '16% ( 16 % )', '14% ( 14 % )', '15% ( 15 % )'], ['expected term', '2.8 years', '2.8 years', '2.8 years'], ['correlation factor', '0.65', '0.60', '0.70']]
the company issued 35000 , 115485 and 39900 performance-based restricted stock awards during 2016 , 2015 and 2014 , respectively .of the cumulative performance-based restricted stock awards issued , defined operating metrics were assigned to 63462 , 51795 and 20667 awards with grant-date fair values of $ 84.61 , $ 86.38 and $ 81.52 during 2016 , 2015 and 2014 , respectively .the grant-date fair value of the awards is being recorded from the grant date through the conclusion of the measurement period associated with each operating metric based on management's estimates concerning the probability of vesting .as of december 31 , 2016 , 7625 units of the total 2014 awards granted were earned and will be issued in 2017 .total compensation expense associated with the awards recorded for the years ended december 31 , 2016 , 2015 and 2014 was $ 0.4 million , $ 0.4 million and $ 0.1 million , respectively .in addition , in 2016 , 2015 and 2014 , the company granted restricted stock units of 488622 , 344500 and 364150 , respectively , that will vest over a three- or four-year period with weighted-average grant-date fair values of $ 88.51 , $ 86.34 and $ 82.13 , respectively .during 2016 and 2015 , 162019 and 85713 shares vested and were released , respectively .as of december 31 , 2016 , 2015 and 2014 , 838327 , 571462 and 344750 units were outstanding , respectively .total compensation expense is being recorded over the service period and was $ 19.1 million , $ 12.5 million and $ 5.8 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .in conjunction with a 2015 acquisition , ansys issued 68451 shares of replacement restricted stock with a weighted-average grant-date fair value of $ 90.48 .of the $ 6.2 million grant-date fair value , $ 3.5 million , related to partially vested awards , was recorded as non-cash purchase price consideration .the remaining fair value will be recognized as stock compensation expense through the conclusion of the service period .during the years ended december 31 , 2016 and 2015 , the company recorded $ 1.2 million and $ 0.6 million , respectively , of stock compensation expense related to these awards .in conjunction with a 2011 acquisition , the company granted performance-based restricted stock awards .vesting was determined based on the achievements of certain revenue and operating income targets of the entity post-acquisition .total compensation expense associated with the awards recorded for the year ended december 31 , 2014 was $ 4.7 million .the company has granted deferred stock awards to non-affiliate independent directors , which are rights to receive shares of common stock upon termination of service as a director .in 2015 and prior , the deferred stock awards were granted quarterly in arrears and vested immediately upon grant .associated with these awards , the company established a non-qualified 409 ( a ) deferred compensation plan with assets held under a rabbi trust to provide directors an opportunity to diversify their vested awards .during open trading windows and at their elective option , the directors may convert their company shares into a variety of non-company-stock investment options in order to diversify their holdings .as of december 31 , 2016 , 5000 shares have been diversified and 184099 undiversified deferred stock awards have vested with the underlying shares remaining unissued until the service termination of the respective director owners .in may 2016 , the company granted 38400 deferred stock awards which will vest in full on the one-year anniversary of the grant .total compensation expense associated with the awards recorded for the years ended december 31 , 2016 , 2015 and 2014 was $ 1.9 million , $ 4.0 million and $ 3.5 million , respectively. .
|
what was the percentage change in the expected volatility 2014nasdaq composite index from 2015 to 2016 16% ( 16 % ) 14% ( 14 % )
|
14.3%
|
{
"answer": "14.3%",
"decimal": 0.14300000000000002,
"type": "percentage"
}
|
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.